Proteonomix, Inc. (OTCPK:PROT)
PROT, a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC ("XGen") towards implementing operations in the United Arab Emirates (U.A.E.).
PROT is the majority shareholder in XGen with the balance held by an anonymous investor group. PROT personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting PROT personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
It was further announced that XGen has expanded its talks within the region beyond a license for manufacture of and treatment with PROT cellular material. Discussions are now further encompassing both the construction of XGen's own manufacturing and treatment facility within the U.A.E. and on funding phased trials for one or more of PROT's proprietary cellular materials for treatment of disease.
PROT CEO, Michael Cohen commented that "The business environment in the U.A.E. is very receptive to Proteonomix and our medical technologies. There is an intense focus on high quality public medical care as well as cutting edge technology. When combined with the rebounding financial condition within the region, we are very pleased to have this opportunity to conduct business in a growing location for medical advancement."
PROT, a biotechnology company, engages in the development of stem cell therapies primarily for the treatment of diabetes and cardiac therapy, as well as offers cosmeceutical products. The stem cell therapy involves the introduction of healthy new stem cells to repair and replace damaged or lost cells. It offers product for the treatment of anti-aging and damaged skin. PROT develops cosmetic products using its technologies, Secreted Matrix and Matrix NC-138 that is a stem cell derived proteins technology. PROT is also involved in the operation of retail Web site, Proteoderm.com to sell its anti-aging line of skin care products; develops therapeutic modalities for the treatment of cardiovascular disease; and engages in the reproductive tissue banking, including sperm, ova, ovarian tissue, and testicular tissue. In addition, PROT develops intellectual properties for patent applications, including a medium and scaffolding for enhancing the growth of stem cells, a growth platform for stem cells, a cord blood banking cryopreservation bag, and a device to eliminate malformed stem cells via filtration. Further, PROT is developing pre-clinical-stage therapeutic agents and treatments for cancer, diabetes, heart, lung, and kidney diseases, as well as for stem cell bone marrow and organ transplants. PROT was formerly known as National Stem Cell Holding, Inc. and changed its name to Proteonomix, Inc. in August 2008. PROT was founded in 2005 and is based in Mountainside, New Jersey.
To learn more about PROT visit: http://www.proteonomix.com
AVI BioPharma, Inc. (NASDAQ:AVII)
AVII, a developer of RNA-based therapeutics, announced earlier this week that AVII is scheduled to present at the UBS Global Life Sciences Conference, Monday, September 20, 2010, at 10:30 a.m. Eastern Time in New York City. J. David Boyle II, AVII's Interim President and Chief Executive Officer, and Chief Financial Officer, will provide a company overview.
The conference presentation will be webcast live under the events section of AVII's website, and will be archived there following the presentation. Please connect to AVII's website several minutes prior to the start of the broadcast to ensure adequate time for any software download that may be necessary.
AVII, a biopharmaceutical company, engages in the discovery and development of therapeutic products based on antisense and cancer immunotherapy technology. AVII's products under development comprise AVI-4658, which has completed Phase I human clinical trials to restore, prevent, or slow deterioration of muscle function; and AVI-5038, a preclinical stage product that is designed to skip exon 50, and overcome the mutational block and restore dystrophin expression. AVII's other development programs include AVI-6002 Ebola virus program, AVI-6003 Marburg virus program, and AVI-7367 H1N1 virus program. AVII has strategic alliances with Chiron Corporation; Cook Group Incorporated; Ercole Biotech, Inc.; Eleos Inc.; Charley's Fund, Inc.; and the United States Department of Defense. AVII was founded in 1980 and is headquartered in Bothell, Washington.
To learn more about AVII visit: http://www.antivirals.com
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO)
AVEO, a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics, earlier this week announced the appointment of Michael P. Bailey to the newly created role of chief commercial officer, as well as the addition of Donna M. Radzik, Ph.D., in the newly created role of vice president, technical operations. Both of these positions will report to Elan Ezickson, executive vice president and chief business officer of AVEO.
AVEO, a biopharmaceutical company, engages in the discovery and development of cancer therapeutics. AVEO's lead product candidate, Tivozanib (AV-951), is a novel, highly potent and selective oral inhibitor of the vascular endothelial growth factor, or VEGF, receptors 1, 2, and 3. It is also leading the clinical development of AV-299, which includes conducting multiple Phase I clinical trials and preparing for the conduct of multiple Phase II clinical trials. AVEO's product candidate in preclinical development is AV-203, a potent ErbB3 antibody that has demonstrated efficacy in vivo. AVEO has strategic partnerships with OSI Pharmaceuticals, Inc., Merck, and Biogen Idec, Inc. AVEO was formerly known as GenPath Pharmaceuticals, Inc. and changed its name to AVEO Pharmaceuticals, Inc. in March 2005. AVEO was founded in 2001 and is based in Cambridge, Massachusetts.
To learn more about AVEO visit: http://www.aveopharma.com
AVANIR Pharmaceuticals, Inc. (Nasdaq:AVNR)
AVNR yesterday announced that AVNR will present at the UBS 2010 Global Life Sciences Conference on Wednesday, September 22nd at 3:30 p.m. Eastern time (12:30 p.m. Pacific time) at the Grand Hyatt New York. The UBS Global Life Sciences Conference provides industry leaders in the life sciences sector with the opportunity to present to top institutional investors.
AVNR focuses on acquiring, developing, and commercializing novel therapeutic products for the treatment of central nervous system disorders primarily in the United States and Canada. AVNR's lead product candidate includes Zenviatm, which has completed three Phase III clinical trials for the treatment of pseudobulbar affect; and a Phase III trial for the treatment of patients with diabetic peripheral neuropathic pain. AVNR also offers Abreva, an over-the-counter product for the treatment of cold sores. AVNR was founded in 1988 and is headquartered in Aliso Viejo, California.
To learn more about AVNR visit: http://www.avanir.com
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