CytRx Receives Orphan Drug Status For Pancreatic Cancer. Unigene Labs Enters Into Termination Agreement. Print E-mail
By BioMedReports.com Staff   
Monday, 13 June 2011 19:09
Below is a look at some of the headlines for companies that made news in the healthcare sector on June 13, 2011.

CytRx Corporation (NASDAQ:CYTR) announced that INNO-206, its tumor-targeting pro-drug candidate, has been approved for orphan drug designation for the treatment of patients with pancreatic cancer by the Office of Orphan Products Development of the U.S. Food and Drug Administration (FDA).

CytRx is currently conducting a Phase 1b safety and dose escalation study with INNO-206 in patients with advanced solid tumors who have failed standard therapies and in the second half of this year, anticipates moving into Phase 2 clinical testing for patients suffering from soft tissue sarcoma.

Objective clinical responses have been reported in patients with sarcoma, breast and small cell lung cancers. CytRx holds the exclusive worldwide development and commercialization rights to INNO-206.

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Unigene Laboratories, Inc. (OTC:UGNE) announced that the Company entered into a Termination Agreement and an Equity Sale and Purchase Agreement under which Unigene will sell its 45% equity interest in Unigene Biotechnology Co., Ltd. (the China Joint Venture) to China Pharmaceutical Group Limited (PINK:CHPTY) or one of its affiliates for an aggregate purchase price of $1,050,000, payable to Unigene in two installments, subject to the receipt of government approvals and other conditions.

In connection with the Termination Agreement, all technology licenses, sublicenses and other rights granted to the China Joint Venture and CPG have been returned to Unigene.

The China Joint Venture was originally formed pursuant to a Joint Venture Contract dated June 15, 2000 between CSPC and Unigene.

Unigene has no further obligations to the China Joint Venture and all disputes previously reported in the Company’s Securities and Exchange Commission (SEC) filings in connection with the China Joint Venture have been resolved to both parties’ full satisfaction.


Also Monday:

AtheroNova Inc. (OTCBB: AHRO) ("AtheroNova"), a biotech company focused on the research and development of compounds to regress atherosclerotic plaque, announced that Balbir (Bal) S. Brar, PhD, DVM, has been appointed Senior Vice President of Drug Development.

Bacterin International Holdings, Inc. (NYSE Amex:BONE), a creator and developer of revolutionary bone graft material and anti-microbial coatings for medical applications, today announced a five-year agreement with ROi (Resource Optimization & Innovation), a recognized leader in health care supply chain management, to provide the OsteoSponge® product line, OsteoSelect®DBM Putty, milled and traditional allografts, and the Elutia® Coated Wound Drain to ROi's nationwide network of hospitals and medical practices.  

BioStar Pharmaceuticals, Inc. (NASDAQ GM: BSPM) ("BioStar" or "the Company"), a Xianyang-based manufacturer of a leading PRC over-the-counter Hepatitis B medicine, Xin Aoxing Oleanolic Acid Capsules and a variety of pharmaceutical products, today announced the appointment of Fleishman-Hillard as its investor relations agency. Fleishman-Hillard will provide advisory services to BioStar for its investor communications and relations programs.

Cell Therapeutics, Inc. ("CTI") (NASDAQ: CTICD and MTA: CTIC) announced today that it has been included on a list of preliminary additions to the Russell 3000® Index and Russell Global Index posted by Russell Investments on June 10, 2011 at www.russell.com.

D. Medical Industries Ltd. (NASDAQ:DMED) (TASE:DMED)
("D. Medical" or the "Company"), a medical device company engaged through its subsidiaries in the research, development, manufacture and sale of innovative products for diabetes treatment and drug delivery, announced today that it filed its annual report on Form 20-F, containing audited consolidated financial statements for the year ended on December 31, 2010, with the U.S. Securities and Exchange Commission on June 13, 2011.

Genesis Biopharma, Inc. (OTCBB: GNBP), a biotechnology company developing targeted cancer therapies, today announced it has named Martin Schroeder to its Board of Directors.

K-V Pharmaceutical Company (NYSE: KVa/KVb)
today announced that it has filed its form 10-K for the fiscal year ended March 31, 2011 with the U.S. Securities and Exchange Commission.

D. Medical Industries Ltd. (NASDAQ:DMED) (TASE:DMED) ("D. Medical" or the "Company"), a medical device company engaged through its subsidiaries in the research, development, manufacture and sale of innovative products for diabetes treatment and drug delivery, today announced financial results for the three months ended March 31, 2011.

Medical Marijuana Inc (PINKSHEETS: MJNA) is pleased to announce completion of a draft for a preliminary petition to the Federal Government to obtain a DEA sanctioned License to cultivate marijuana for medicinal purposes.

NeoStem, Inc. (NYSE Amex:NBS), an international biopharmaceutical company with product and service revenues, global research and development capabilities and operations in three distinct business units – U.S. adult stem cells, China adult stem cells, and China pharmaceuticals, announced that its Suzhou Erye Pharmaceutical subsidiary ("Erye") has received approval from the State Food and Drug Administration (SFDA) in China for its sixth major production line which is responsible for the production of over 20 finished pharmaceutical products, 80% of which are on the National Insurance Drug List.

PROLOR Biotech, Inc. (NYSE Amex:PBTH)
, today announced that the U.S. Patent and Trademark Office (PTO) has allowed a new patent for the company's veterinary version of its long-acting CTP-enhanced non-human growth hormone (NhGH-CTP).

Spherix Incorporated (NASDAQ:SPEX) – an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis, and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies – today announced that Dr. Claire Kruger, Chief Executive Officer, will present to investors as part of the 5th Lippert/Heilshorn & Associates Life Sciences & Medical Technologies Virtual Conference on Thursday, June 16, 2011 at 2:00 p.m. Eastern time.

Stellar Biotechnologies, Inc. "Stellar" (TSX-V: KLH) (PINKSHEETS: SBOTF) is pleased to announce that its semi-annual CEO Letter to Shareholders has been released.

Tengion, Inc. (Nasdaq:TNGN) today provided an update on the clinical trial of the Company's lead clinical product candidate, the Neo-Urinary Conduit™, for use in bladder cancer patients requiring a urinary diversion following bladder removal (cystectomy).

Verisante Technology, Inc. (TSX VENTURE:VRS) (OTCQX:VRSEF) (the "Company" or "Verisante") announced today that the Company has entered into an Asset Purchase Agreement with Perceptronix Medical Inc. ("PMI").



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