Power3 Medical Products, Inc. (OTCBB:PWRM) recently announced that company management believes it is making great progress in its focus on the development, sales, and marketing of its proprietary innovate diagnostic tests for breast cancer, pancreatic cancer, ovarian cancer, colon cancer, and certain neurodegenerative diseases, such as Alzheimer’s and Parkinson’s, to name a few. In addition, Power3 is a party to several litigation matters, most of which relate to various toxic debt instruments that were entered into by Power3 several years ago when it operated under the tenure of Chairman and CEO, Steven B. Rash.
Because current management believes these toxic debt instruments are responsible for Power3’s depressed stock price and have distracted the company from its mission, Power3 plans to settle as many of these nagging lawsuits as possible prior to the completion of its merger with Rozetta-Cell Life Sciences, Inc. As for those lawsuits that cannot be speedily resolved, Power3 will continue to rigorously defend its position. For example, one such lawsuit involves Neogenomics, Inc., which was recently granted a motion for summary judgment with respect to an amount due under a convertible debenture. Power3 intends to appeal this decision.
Rozetta-Cell Life Sciences, Inc. is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. Power3 plans to effect the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company. The acquisition of Rozetta-Cell is expected to be completed in February 2011.
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig’s disease). Power3 applies proprietary methodologies to discover and identify protein biomarkers associated with diseases. Through these processes, Power3 has developed a portfolio of products including BC-SeraPro™, a proteomic blood serum test for the early detection of breast cancer for which Power3 has completed Phase I clinical trials, and NuroPro®, a proteomic blood serum test for the detection of neurodegenerative diseases, including Alzheimer’s, Parkinson’s, and ALS diseases, for which Power3 is currently engaged in Phase II clinical trials.
Sunesis Pharmaceuticals Inc. (Nasdaq:SNSS) announced that the first patient has been randomized and dosed with blinded study treatment in its pivotal Phase 3 VALOR trial of vosaroxin, the company's lead drug candidate, in combination with cytarabine in patients with first relapsed or refractory acute myeloid leukemia (AML). The VALOR trial is a multinational, randomized, double-blind, placebo-controlled, pivotal trial which is expected to enroll 450 evaluable patients at leading sites in the U.S., Canada, Europe, Australia and New Zealand.
Sunesis Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of solid and hematologic cancers.
Hampton Roads Bankshares Inc. (Nasdaq:HMPR) announced that Shore Bank has named W. Thomas Mears President and Chief Executive Officer. Mears brings over 20 years of banking experience in markets on the Eastern Shore of Maryland and surrounding areas. He joins Shore Bank from Wilmington Trust, where he was Market Manager -- Lower Delaware and Eastern Shore of Maryland. Mears succeeds Steven M. Belote, who will assist with the transition and then assume another position with the Company to be determined following the completion of the transition.
Hampton Roads Bankshares, Inc. operates as the holding company for Bank of Hampton Roads (BOHR) and Shore Bank that provide community and commercial banking services primarily to individuals and businesses.
Marshall Edwards Inc.(Nasdaq:MSHL) an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced that they have entered into a definitive asset purchase agreement pursuant to which Marshall Edwards will acquire Novogen's isoflavone-based intellectual property portfolio in exchange for $4 million of convertible preferred stock.
Marshall Edwards, Inc., a developmental stage pharmaceutical company, engages in the development and commercialization of drugs for the treatment of cancer in the United States and Australia.
Global Hunter Corp. (TSX.V:BOB)(FSE:G5D) is pleased to announce that it recently completed a surface sampling program at La Corona de Cobre. The program was designed to collect surface samples from the numerous prospective shear zones. This will aid in the definition of drill targets to expand on the copper oxide mineralization. Global Hunter has collected approximately 250 samples from the shear zones listed below. The shear zones and areas of alteration that have been sampled (from East to West ) include the following zones: El Manto; La Golondrina; Cerro Borracho; El Tazon; La Copa; La Varrilla; Et Tazon; Vino Fino; Abisinia; and Las Posadas.
The samples will be collected from outcrops along the entire strike lengths of the shears and have been shipped to ALS Chemex Labs in La Serena Chile for analysis. Results will be released as soon as practical after they have been received. These shear zones can be traced on surface for hundreds of metres, with the longest being Vino Fino, which has been mapped for over 6,000 metres. Local miners are currently extracting ore from several shear zones on the property and transporting it to Enami for processing.
The surface sample results in conjunction with previous geophysical work completed on the property Global Hunter intends to prepare a multi-hole drill program on the shear zones scheduled to begin early 2011 as part of its ongoing evaluation of its Corona de Cobre project. In addition to sampling and drilling of the prospective shear zones at La Corona de Cobre mentioned above, Global Hunter will continue its work on the Las Posadas resource over the coming months and will provide a summary of its progress as information becomes available.
Global Hunter’s flagship project is the La Corona de Cobre property, located 70 kilometres north of La Serena, Chile, along the Pan American Highway, within the coastal belt of the Andean Cordillera. The NI 43-101-compliant resource contains 225 million pounds of copper oxide. In addition, Global Hunter has its Rabbit South molybdenum project in south-central British Columbia, Canada.
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