|Neptune charges higher on funding. ARIAD reports license agreements.|
|By Staff and Wire Reports|
|Wednesday, 20 April 2011 20:19|
Neptune Technologies & Bioressources Inc. (Nasdaq:NEPT) (TSX-V:NTB) announced today that in connection with its private placement financing of units announced yesterday, it has secured commitments, with the same terms for an additional $2,865,000. The total proceeds of the private placement financing amounts for approximately $12.4M.
The Company said it is not accepting any other financing at this time and that it expects the closing of these units to occur concurrently with the closing of the previously announced financing.
Shares surged more than 13.5% or 35 cents to $2.93.
REGENX BioSciences, a privately held biopharmaceutical company and developer of NAV, a unique gene delivery technology, announced an exclusive license agreement with ARIAD Pharmaceuticals, Inc. (NASDAQ:ARIA) for its ARGENT gene expression regulation technology. This regulation technology, which is built exclusively from human proteins to minimize the potential for immunogenicity, adds a valuable tool to the NAV platform by providing control of gene expression and the potential for greater safety and efficacy in certain disease populations. This license also expands the market applications for NAV Technology in therapeutic areas where there is a need for precise calibration of pharmacologic control of gene expression.
Under the terms of the license, REGENX has exclusive rights, with the right to sublicense, to ARIAD's regulated gene expression system in the development and commercialization of human therapeutics and vaccines based on in vivo gene delivery mediated by viral vectors, including but not limited to REGENX's proprietary NAV vectors. ARIAD has an equity stake in REGENX and will receive clinical and regulatory milestones and royalties on products developed and commercialized utilizing the ARGENT technology, as well as a portion of sublicensing revenues.
Seperately, Clontech Laboratories, Inc., a wholly-owned subsidiary of Takara Bio Inc., today announced the release of the iDimerize inducible dimerization systems. Based on the widely used ARGENT technology developed by ARIAD, the iDimerize systems enable precise, real-time control of protein-protein interactions using specific cell-permeable chemical ligands, called dimerizers. Any cellular process that can be activated or inactivated by protein-protein interactions can be controlled in real time by dimerizers, either in vitro or in vivo, by fusing the proteins of interest to specific dimerization domains.
Shares of ARIAD gained 34 cents or 4.33% to $8.19.
Shares of BSD Medical Corporation (NASDAQ:BSDM) moved higher after the company announced today that a U.S. Government medical facility has purchased a BSD-500 Hyperthermia System (BSD-500). “BSD has received purchase orders for eight hyperthermia systems since September 1, 2010, the beginning of BSD's 2011 fiscal year,” stated Harold Wolcott, BSD's President. “Clinical studies have shown that hyperthermia delivered using the BSD-500 can significantly increase the effectiveness of radiation therapy without a significant increase in toxicity for certain tumors. We are excited that this technology will be more widely available to patients throughout the world.”
The BSD-500 Hyperthermia System is used to deliver therapeutic heating (hyperthermia) using either non-invasive (external) hyperthermia, which is delivered using antennas placed over the tumor, or interstitial hyperthermia, which is delivered using antennas that are inserted into the tumor, or a combination of both. The BSD-500 has received U.S. Food and Drug Administration pre-market approval, which is the standard FDA approval required to market Class III medical devices in the United States, for the use of hyperthermia alone or in conjunction with radiation therapy for the treatment of certain tumors.
Shares surged 36 cents or 9.5% to $4.15.
Anavex Life Sciences Corp. (OTCBB:AVXL.ob) today announced that the first healthy human volunteers have been initially dosed in its Phase I clinical trial to evaluate ANAVEX 2-73, the company's lead compound for Alzheimer's disease.
"We are pleased that the first volunteers have been dosed with the study drug, according to the study protocol, and no adverse events have been recorded post dosing to date," said Dr. Ozkan Yalkinoglou, Medical Director of ABX-CRO.
"ANAVEX 2-73 is a proprietary, wholly owned drug that comes from a family of compounds discovered and developed in-house. Its first-in-human administration is the most significant and important milestone in our corporate history. We eagerly anticipate the results of this Phase I clinical trial," said Dr. Cameron Durrant, Executive Chairman of Anavex.
Shares of Anavex jumped 23 cents or 8% to $3.12.
Adeona Pharmaceuticals, Inc. (NYSE Amex: AEN), a developer of innovative medicines for serious central nervous system diseases, announced today that it has executed an agreement with TG United, Inc. of Brooksville, Florida, to provide commercial-scale manufacturing capabilities for reaZin. Adeona is developing reaZin, its product candidate for the dietary management of Alzheimer's disease and mild cognitive impairment, as a prescription medical food. "Executing this agreement for the manufacturing of our product candidate, reaZin, is an important step for commercialization," stated James S. Kuo, M.D., M.B.A., Adeona's Chief Executive Officer. "With the recent news that revised guidelines for diagnosing Alzheimer's disease could double the population size, we are excited that reaZin may be of benefit to this growing population, particularly in the earlier stages."
Aethlon Medical, Inc. (OTCBB: AEMD) disclosed that it was the subject of an ABC affiliate station news story that included discussion of the company's proposed strategy to reduce the occurrence of sepsis in wounded military personnel.
Amgen (NASDAQ:AMGN) reported adjusted earnings per share (EPS) of $1.34 for the first quarter of 2011, an increase of 3 percent compared to $1.30 for the first quarter of 2010.
Anavex Life Sciences Corp. ("Anavex") (OTCBB: AVXL) today announced that the first healthy human volunteers have been initially dosed in its Phase I clinical trial to evaluate ANAVEX 2-73, the company's lead compound for Alzheimer's disease.
Cepheid (Nasdaq:CPHD) today reported revenue for the first quarter of 2011 of $60.2 million.
Oncolytics Biotech Inc. ("Oncolytics") (TSX:ONC, NASDAQ:ONCY) today announced interim data from a U.K. translational clinical trial (REO 013) investigating intravenous administration of REOLYSIN in patients with metastatic colorectal cancer prior to surgical resection of liver metastases.
Vermillion, Inc. (NASDAQ:VRML), a molecular diagnostics company, will host a web cast and conference call to give a company update following issuance of the first quarter financial results on Tuesday, May 10, 2011.