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 towards implementing operations in the United Arab Emirates.
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
MusclePharm Corporation (OTCQB:MSLP)
MSLP, one of the fastest growing nutritional supplement companies in the United States with a proprietary formulation used in eight performance products, recently announced MuscleGel achieves NSF certification. In addition, MSLP’s Recon and Assault nutritional products will be NSF certified within the coming months.
“We are extremely pleased MusclePharm’s MuscleGel is now NSF certified and look forward to Recon and Assault’s future addition to the NSF’s list of approved supplements,” commented Brad Pyatt, MSLP’s Chief Executive Officer. “Our Chief Medical Researcher, Dr. Jeffery Stout, Ph.D. and his team of scientists, doctors, and top professional athletes were instrumental in achieving the NSF’s certification of MuscleGel, Recon and Assault. These three products provide strong, unique opportunities for us to expand MusclePharm’s distribution within the professional athletic community, including the MLB and NFL.”
MSLP products are currently available in 1,200 of the top GNC in the United States, as well as Vitamin Shop. MSLP’s award-winning products — Assault, Battle Fuel, Bullet Proof, Combat Powder, Recon and Shred Matrix—are also available online at gnc.com, bodybuilding.com, amazon.com and many other locations.
MSLP manufactures and markets sports nutrition products for athletes, body builders, and health minded individuals in the United States and internationally. MSLP's nutrition products consist of vitamins, minerals, herbs, and dietary supplements. MSLP's product portfolio includes Assault, a combination of clinically proven, naturally occurring substances for providing muscles with increased energy at the cellular level; Battle Fuel that comprises natural compounds to impact the body's hormonal, recovery, and immune pathways; Bullet Proof, a clinically proven combination of natural components to support the restful state of sleep possible, as well as to optimize recovery and repair through specific hormonal modulation and precise nutrient delivery. MSLP's products also comprise Combat Powder, a timed-released protein super-food; Shred Matrix that includes natural compounds to impact the body's multiple metabolic, energy, and performance pathways; and Recon that consists of BCAAs and EAAs for muscle building. MSLP sells its products under the MusclePharm brand name. MSLP markets its products directly, as well as through retail stores, distributors, and Internet sites. MSLP was founded in 2008 and is based in Aurora, Colorado.
To learn more about MSLP visit: http://www.musclepharm.com
Webster Financial Corporation (NYSE:WBS)
WBS recently announced that John Ciulla, executive vice president, has been named head of WBS's Middle Market banking group and the chairman of Webster's Regional Presidents Council. Since January 2008, Ciulla has been Chief Credit Risk Officer; prior to that he was a senior vice president in WBS's Commercial Bank.
Joseph Savage, WBS's executive vice president and head of the Commercial Bank, said, "John's return to the 'client' side of the bank offers the latest validation that Webster has emerged from the recession stronger, more focused, and poised to grow. In heading up Middle Market, John's focus will be to turbo-charge the success that the Commercial Bank is already enjoying with its robust pipeline of new relationships and to accelerate our cross-selling activity through the Regional Presidents."
WBS operates as the holding company for the Webster Bank that provides various banking and financial products and services in southern New England and eastern New York State. As of March 1, 2010, WBS operated 181 banking offices and 501 automated teller machines in Connecticut, Massachusetts, Rhode Island, and New York. WBS was founded in 1935 and is headquartered in Waterbury, Connecticut.
To learn more about WBS visit: http://www.websteronline.com
Weight Watchers International, Inc. (NYSE:WTW)
WTW this month announced that its Board of Directors declared its quarterly cash dividend of $0.175 per share of common stock, which corresponds to an annual dividend rate of $0.70 per share. This quarterly dividend will be payable on October 15, 2010 to shareholders of record at the close of business on October 1, 2010.
WTW provides weight management services worldwide. It offers various services and products that are built upon weight management plans comprising nutritional, exercise, and behavioral tools and approaches. WTW sells its products through meeting operations and to its franchisees. WTW has a joint venture agreement with Danone Dairy Asia to establish a weight management business in the People's Republic of China. WTW was founded in 1961 and is headquartered in New York, New York.
To learn more about WTW visit: http://www.weightwatchers.com
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