Archive for October, 2015
(DRAD) Announces Agreement to Acquire DMS Health Technologies for $36 Million in Cash
- $36 million transaction anticipated to increase Digirad’s pro forma revenue and adjusted EBITDA to over $125 million and $17 million annually
- Transaction expected to be immediately accretive to Digirad’s earnings and cash flow on an adjusted basis
- Combined company will have significantly expanded geographies, customer base, and product and service offerings
- Industry-leading service offerings will be significantly diversified among multiple imaging modalities
- Wells Fargo has provided Digirad with a Commitment Letter for a senior secured credit facility of up to $40 million
- Digirad’s regular quarterly cash dividend will remain unchanged
SUWANEE, Ga. and FARGO, N.D., Oct. 14, 2015 — Digirad Corporation (“Digirad”) (NASDAQ:DRAD), the leader in providing healthcare solutions on an as needed, when needed, and where needed basis, today announced that it has entered into a definitive agreement to acquire all the outstanding equity of Project Rendezvous Holding Corporation, the ultimate parent company of DMS Health Technologies, Inc. (“DMS Health”), for $36 million in cash from Los Angeles-based Platinum Equity.
Headquartered in Fargo, North Dakota, DMS Health has approximately 250 employees and provides mobile diagnostic imaging and related sales and services to small and regional hospitals throughout the country, with a large concentration in the upper Midwest region.
“We believe this acquisition represents a significant milestone in Digirad’s history, and should generate considerable value for our customers and our shareholders and enhanced opportunities for the employees of both companies,” commented Matt Molchan, Digirad’s President and CEO. “The integration of DMS Health and Digirad will enable the combined company to expand its range of customers serviced as well as provide significant geographical and service level diversification. DMS Health is an ideal strategic fit for us and our commitment to providing healthcare solutions on an as needed, when needed, and where needed basis.”
DMS Health generated over $65 million in revenues in 2014. Once the integration is complete, the Company expects, based on current information, the consolidated Digirad entity to generate pro forma annual revenue and adjusted EBITDA of over $125 million and $17 million, respectively.
“Today is an exciting day for the entire DMS Health team and for the future of our company,” said William Vogel, DMS Health’s CEO. “Digirad is an ideal fit for our company; they know the industry and our market very well, and we believe the Digirad team is uniquely suited to help us grow in the future.”
Mr. Molchan continued, “DMS Health has a significant presence in the upper Midwest, a region that is currently absent in our Diagnostic Services business map, and specializes in the provision of mobile MRI, CT, and PET/CT imaging, all modalities that we do not currently offer. Further, DMS Health has a long standing partnership with Philips Healthcare North America equipment sales and service. These are just a few of the numerous synergistic and diversification opportunities this acquisition provides to Digirad. We believe the new, combined Company will be much stronger than either company would be on its own.”
Transaction Details
The aggregate consideration for DMS Health will be $36 million in cash at closing. In connection with the acquisition, Digirad has obtained a commitment letter from Wells Fargo Bank, N.A. for a total senior secured credit facility of up to $40 million that the Company intends to use to partially fund the transaction, along with cash on hand.
Digirad remains committed to its current quarterly dividend of $0.05 per share and its capital structure post-closing of the transaction is intended to support this important component of value to Digirad shareholders.
The transaction is expected to close before the end of the year and is subject to the satisfaction of customary closing conditions.
Conference Call Information
A conference call is scheduled for 11:00 a.m. EDT on October 14, 2015 to discuss the transaction and Management’s outlook. The call may be accessed by dialing 877-407-9039 (international callers: 201-689-8470) five minutes prior to the scheduled start time and referencing Digirad. A simultaneous webcast of the call may be accessed online from the Events & Presentations link on the Investors page of the Digirad website at http://drad.client.shareholder.com/events.cfm; an archived replay of the webcast will be available within 15 minutes of the end of the conference call.
About Digirad
Digirad delivers convenient, effective, and efficient healthcare solutions on an as needed, when needed, and where needed basis. Digirad is one of the largest national providers of in-office nuclear cardiology and ultrasound imaging services, and also provides cardiac event monitoring services. These services are provided to physician practices, hospitals and imaging centers through its Diagnostic Services business. Digirad also sells medical diagnostic imaging systems, including solid-state gamma cameras, for nuclear cardiology and general nuclear medicine applications, as well as provides service on the products sold through its Diagnostic Imaging business. For more information, please visit www.digirad.com. Digirad® and Cardius® are registered trademarks of Digirad Corporation.
About DMS
DMS Health Technologies’ diverse portfolio of medical equipment and diagnostic imaging services provides physicians the access to technology necessary to provide exceptional patient care in today’s rapidly changing healthcare environment. DMS Health’s complete portfolio of healthcare solutions and healthcare equipment, coupled with over three decades of serving healthcare facilities, exceptional customer service and quality patient care, demonstrates DMS Health’s expertise and professionalism in healthcare.
Use of Non-GAAP Financial Measures
In addition to financial results calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), information containing non-GAAP financial measures is disclosed herein. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements should be carefully evaluated. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. Management encourages readers to rely upon the GAAP numbers, but includes the non-GAAP financial measures as supplemental metrics to assist readers.
The Company presented the non-GAAP financial measure “adjusted EBITDA.” Company management uses this non-GAAP financial measure and other non-GAAP financial measures to evaluate the Company’s performance. As the Company’s core business is providing healthcare services and products to the healthcare industry, Company management finds it useful to use financial measures that do not include charges associated with restructuring and integration activities, acquired intangible asset amortization, acquisition-related income tax adjustments, or acquisition related contingent consideration adjustments. While we may have these types of items and charges in the future, Company management believes that they are not reflective of the day-to-day offering of its products and services and relate more to strategic, multi-year corporate actions, without predictable trends, and that may obscure the trends and financial performance of the Company’s core business. Further, Company management believes the exclusion of interest, taxes, depreciation, amortization, and stock-based compensation is very commonly utilized in the investment community and it helps Company management benchmark its operations and results with the industry.
The limitation associated with using non-GAAP financial measures is that these measures exclude items that impact the Company’s GAAP operating results. This limitation is best addressed by using non-GAAP financial measures in combination with “net income” (the most comparable GAAP measure).
Forward-Looking Statements
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should,” “seek,” “approximately,” “intends,” “plans,” “estimates,” or “anticipates,” or the negative of those words or other comparable terminology, or in specific statements such as the Company’s ability to deliver value to customers, the ability to grow and generate positive cash flow, the ability to execute on restructuring activities, and ability to successfully close and execute the acquisition of DMS Health and other acquisitions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These risks are detailed in Digirad’s filings with the U.S. Securities and Exchange Commission, including the Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports. Readers are cautioned to not place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Digirad undertakes no obligation to revise or update the forward-looking statements contained herein.
For more information contact: Jeffry Keyes Chief Financial Officer 858-726-1600 ir@digirad.com
(CASI) Receives EU Orphan Drug Designation For ENMD-2076 in Cancer
ROCKVILLE, Md., Oct. 14, 2015 — CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a biopharmaceutical company dedicated to innovative therapeutics addressing cancer and other unmet medical needs, announces that its oncology drug candidate, ENMD-2076, has received Orphan Drug designation from the European Medicines Agency (EMA) for the treatment of hepatocellular carcinoma (HCC), including fibrolamellar carcinoma (FLC), a rare type of HCC.
The designation provides CASI with 10 years of market exclusivity in EU after ENMD-2076 receives marketing authorization there. The product was also granted Orphan Drug designation for the treatment of HCC by US Food and Drug Administration (FDA) in 2014, which provides CASI with a 7-year market exclusivity in the country after its New Drug Application approval.
Dr. Ken Ren, Chief Executive Officer of CASI, commented, “We are very pleased with the Orphan Drug designation in the EU for HCC. This is an important regulatory milestone for us to enhance the commercial value of ENMD-2076 for global market. We are in the process of initiating our phase 2 clinical trials in the US for the treatment of FLC and expecting to start patient recruitment very soon. We will seek regulatory approvals and expand the trial into EU once a signal of clinical benefits is indicated in our US trial. As a part of our global development plan, we also have clinical trial application filed with Chinese FDA pending for approval for FLC. We are quite optimistic and committed to the development of ENMD-2076 as a first line therapy for the treatment of FLC and look forward to advancing its development to the next step.”
About ENMD-2076
ENMD-2076 is an orally-active, Aurora A/angiogenic kinase inhibitor with a unique kinase selectivity profile and multiple mechanisms of action. ENMD-2076 has been shown to inhibit a distinct profile of angiogenic tyrosine kinase targets in addition to the Aurora A kinase. Aurora kinases are key regulators of mitosis (cell division), and are often over-expressed in human cancers. ENMD-2076 also targets the VEGFR, Flt-3 and FGFR3 kinases, which have been shown to play important roles in the pathology of several cancers. ENMD-2076 has shown promising activity in Phase 1 clinical trials in solid tumors including ovarian, breast, liver, renal and sarcoma, as well as in leukemia and multiple myeloma. ENMD-2076 is currently in Phase 2 clinical trials in multiple indications, including triple-negative breast cancer, soft tissue sarcoma, ovarian clear cell carcinomas and fibrolamellar carcinoma. ENMD-2076 has received orphan drug designation from the U.S. FDA for the treatment of ovarian cancer, multiple myeloma, acute myeloid leukemia, and hepatocellular carcinoma.
About CASI Pharmaceuticals, Inc.
CASI is a biopharmaceutical company dedicated to the acquisition, development and commercialization of innovative therapeutics addressing cancer and other unmet medical needs for the global market with a commercial focus on China. CASI’s product pipeline includes exclusive rights to ZEVALIN® (ibritumomab tiuxetan), MARQIBO® (vinCRIStine sulfate LIPOSOME injection) and EVOMELA™ (CE-Melphalan HCI for injection) for greater China (including Taiwan, Hong Kong and Macau). CASI’s development pipeline also includes its proprietary drug candidate ENMD-2076, a selective angiogenic kinase inhibitor currently in multiple Phase 2 oncology studies, and 2ME2 (2-methoxyestradial) currently under reformulation development. CASI is headquartered in Rockville, Maryland and has a wholly owned subsidiary and R&D operations in Beijing, China. More information on CASI is available at www.casipharmaceuticals.com and in the Company’s filings with the U.S. Securities and Exchange Commission.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance, strategies, expectations and goals, including, without limitation, with respect to the closing of the private placement offering and the anticipated use of the net proceeds. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and no duty to update forward-looking statements is assumed. Actual results could differ materially from those currently anticipated due to a number of factors, including: the risk that the closing of the private placement offering does not occur, that we may be unable to continue as a going concern as a result of our inability to raise sufficient capital for our operational needs; the possibility that we may be delisted from trading on the Nasdaq Capital Market; the volatility in the market price of our common stock; risks relating to interests of our largest stockholders that differ from our other stockholders; the risk of substantial dilution of existing stockholders in future stock issuances, including as a result of the closing of the private placement offering; the difficulty of executing our business strategy in China; our inability to enter into strategic partnerships for the development, commercialization, manufacturing and distribution of our proposed product candidate or future candidates; risks relating to the need for additional capital and the uncertainty of securing additional funding on favorable terms; risks associated with our product candidates; risks associated with any early-stage products under development; the risk that results in preclinical models are not necessarily indicative of clinical results; uncertainties relating to preclinical and clinical trials, including delays to the commencement of such trials; the lack of success in the clinical development of any of our products; dependence on third parties; and risks relating to the commercialization, if any, of our proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks). Such factors, among others, could have a material adverse effect upon our business, results of operations and financial condition. We caution readers not to place undue reliance on any forward-looking statements, which only speak as of the date made. Additional information about the factors and risks that could affect our business, financial condition and results of operations, are contained in our filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov.
ZEVALIN® MARQIBO® and EVOMELA™ are proprietary to Spectrum Pharmaceuticals, Inc. and its affiliates.
COMPANY CONTACT:CASI Pharmaceuticals, Inc.
240.864.2643 |
INVESTOR CONTACT:Torrey Hills Capital
Jim Macdonald 858.456.7300 |
(ISCO) Presents Comprehensive Findings for Parkinson’s Disease Program Preclinical Studies
CARLSBAD, CA–(October 14, 2015) – International Stem Cell Corporation (OTCQB: ISCO), a California-based biotechnology company developing novel stem cell-based therapies and biomedical products, announced today that the Company will make an oral presentation on the comprehensive results of its preclinical development of human parthenogenetic neural stem cells (hPNSCs) for the treatment of Parkinson’s Disease at Neuroscience 2015 in Chicago.
Session Title: Therapeutics of Parkinson’s Disease: Preclinical Studies
Session Date and Time: Tuesday Oct 20, 2015 8:00 AM – 10:15 AM
Location/Room: McCormick Place/N230
Session Number: 463
“The comprehensive data collected from our extensive GLP studies serve as proof of safety and efficacy for our planned clinical trial for the treatment of Parkinson’s Disease in Australia. We look forward to providing an update on the status of our regulatory submission to the Australian government in the near future,” said Russell A. Kern, Ph.D. chief scientific officer of ISCO.
ISCO’s Parkinson’s disease program uses human parthenogenetic neural stem cells (hPNSC) which are a novel therapeutic cellular product derived from the Company’s proprietary human pluripotent stem cells. hPNSC are self-renewing multipotent cells that are precursors for the major cells of the central nervous system. The ability of hPNSC to differentiate into dopaminergic neurons and express neurotrophic factors to protect the nigrostriatal system offers a new opportunity for the treatment of Parkinson’s disease.
About International Stem Cell Corporation
International Stem Cell Corporation (ISCO) is focused on the therapeutic applications of human parthenogenetic stem cells (hpSCs) and the development and commercialization of cell-based research and cosmetic products. ISCO’s core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenetic, homozygous stem cell line that can be a source of therapeutic cells for hundreds of millions of individuals of differing genders, ages and racial background with minimal immune rejection after transplantation. hpSCs offer the potential to create the first true stem cell bank, UniStemCell™. ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology (www.lifelinecelltech.com), and stem cell-based skin care products through its subsidiary Lifeline Skin Care (www.lifelineskincare.com). More information is available at www.internationalstemcell.com.
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Safe harbor statement
Statements pertaining to anticipated developments, expected clinical studies (including timing and results), progress of research and development, and other opportunities for the company and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, regulatory approvals, need and ability to obtain future capital, application of capital resources among competing uses, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the company’s business, particularly those mentioned in the cautionary statements found in the company’s Securities and Exchange Commission filings. The company disclaims any intent or obligation to update forward-looking statements.
Contact
International Stem Cell Corporation
Russell A. Kern, PhD
Phone: +1-760-940-6383
Email: ir@intlstemcell.com
Media:
Christopher R. Hippolyte
Phone: +1-646-942-5634
Email: chris.hippolyte@russopartnersllc.com
Amiad Finkelthal
Phone: +1-646-942-5626
amiad.finkelthal@russopartnersllc.com
Kootenay Zinc Corp. (CSE:ZNK) (OTCQB:KTNNF)
Kootenay Zinc Corp. (KTNNF) is a mineral exploration and development company focused on discovering large-scale sedimentary-exhalative (“SEDEX”) zinc deposits. Based in Vancouver, British Columbia, the company is ideally positioned near its primary target, the Sully Property, located 18 miles east of the world-class Sullivan Mine.
Of the 22 raw materials tracked by the Bloomberg Commodity Index, zinc was the best-performing base metal in 2016. Based on a widening global supply deficit, outlook for the commodity remains strong. As the most closely tied base metal to the Chinese economy, zinc demand and prices are expected to rise well into the year 2020, putting increased pressure on zinc supply.
For 2017, Goldman Sachs has predicted a 360,000 ton shortage of zinc, along with a subsequent rise in zinc prices to $2,500 per metric ton in the first half of the year. Zinc continues to make history in the metals exchange, driving significant interest in the market amid supply constraints in concentrates and refined metal drive prices.
Ready to claim its share of the market, Kootenay Zinc is focused on its Sully Property. It comprises 1,375 hectares and overlies rocks of similar age and origin as those which host the legendary Sullivan deposit. The Sullivan mine was discovered in 1892, and is known to be one of the world’s largest SEDEX deposits. Over its 100-year lifetime, Sullivan produced approximately 150 million tonnes of ore, including approximately 300 million ounces of silver, 8 million tonnes of zinc and 8 million tonnes of lead.
Notably, geophysical data suggests that Kootenay Zinc’s Sully project and Sullivan share many geological features:
- Strata at Sully are in the same sedimentary basin as the Sullivan mine
- The exact stratigraphic time horizon at which Sullivan formed is present at Sully
- Filtered AeroMag anomalies coincident with Sullivan Time at Sully appear similar to Sullivan
- Gravity anomaly at Sully indicates excess mass of comparable magnitude to Sullivan
- Pb-Zn is present as traces in outcrop, drill core and in a soil geochemical anomaly
The squeeze in zinc supplies particularly affects China, which is both the world’s largest zinc consumer and its largest producer, with 4.9 million tons of output in 2015. Chinese manufacturers are now being forced to import zinc for use in cars, household appliances, paints, rubber products and smartphones.
Zinc’s rally shows no sign of slowing down in the near future, and companies that currently occupy stake in a zinc deposit find themselves in an enviable position over miners rushing to find new reserves. With its Sully Project, Kootenay Zinc could be on track to capture its share of the market, guided by a management team of mining directors and executives that currently lead some of the world’s best mining companies and have been involved in world-class discoveries which sold for billions of dollars. The company’s technical team includes industry experts that have worked on mega-mining projects, including the Sullivan and Voisey Bay projects.
Investment Considerations
- Zinc is the top performer of the 22 raw materials tracked by the Bloomberg Commodity Index
- Global outlook for zinc remains strong as growing supply deficit drives increase in prices
- Sully Project located in world-class Sullivan Mine with production valued at US$49 billion
Oakridge Global Energy Solutions (OGES)
Oakridge Global Energy Solutions, Inc. is an integrated energy storage solutions company focused on the design, development and manufacture of high-quality cells, batteries and power systems. The company’s innovative ‘Made in the U.S.A.’ product line includes multiple lithium-ion technologies and form factors that are optimized to address three high-demand target markets – including stationary and grid storage; motive applications, such as electric and hybrid electric fleet vehicles; and specialty applications, such as military, aerospace, marine, medical and telecom backup.
Through a recent restructuring of its operations, Oakridge strategically positioned itself to expand its market reach moving forward. The company currently owns and operates two manufacturing facilities in Melbourne, Florida, which play an instrumental role in its efforts to meet the growing demand for its cutting-edge large format Pro Series golf car batteries and its small format Patriot Series RC batteries. These operations also allow Oakridge to bring stable employment opportunities back to the U.S., effectively highlighting its tireless commitment to the revitalization of the country’s manufacturing industry.
The company also maintains a presence on the international stage through its recently formed subsidiary, Oakridge Global Energy Solutions Limited, Hong Kong. This subsidiary, which is expected to serve as the foundation for Oakridge’s sales efforts throughout the Asia-Pacific region, was created primarily to address the tremendous international demand for its revolutionary stored energy solutions. The company also maintains a substantial interest in Leclanche S.A., a Swiss developer and manufacturer of large-sized lithium-ion batteries that was originally founded in 1909.
Oakridge has indicated plans to expand its presence in a collection of markets throughout Europe and Asia as it continues to build upon its established product development and manufacturing infrastructure. The company will lean on the expertise of its proven management team – which includes well over a century of combined industry experience – as it looks to increase its share of the $12 billion domestic battery manufacturing industry.
(RAVE) Saddles up in San Antonio with Development Deal
Nation’s Leading Fast Casual Pizza Chain Signs Multi-Unit Agreement
DALLAS, Oct. 13, 2015 — Dallas-based Pie Five Pizza will be adding more locations to its roster with its latest multi-unit development agreement. Franchise partner, Umar Ibrahim, has signed on to build 8 to 10 Pie Five locations in the San Antonio area. The first location will open mid-2016.
“Pie Five is on fire in Dallas-Fort Worth and with similar demographics, I know it will do very well in the San Antonio market too,” said Umar Ibrahim, Pie Five’s San Antonio franchise partner. “I really did my homework on the fast casual pizza segment and found that Pie Five offered a value and service proposition that was hard to beat.”
At Pie Five, guests can choose from more than a million combinations of farm fresh ingredients, artisan sauces and handcrafted crust variety. Pies bake in just 140 seconds in a custom-designed, state-of-the-art oven. By the time the guest arrives at the register, their hot, bubbly, pizza perfection is ready. Additionally, they can add one of Pie Five’s freshly-tossed hand-made salads served in a baked pizza dough bowl or a decadent home-baked brownie or cookie pie to their meal. The rapidly expanding chain is capitalizing on growing consumer demand for personalized, fresh dining options.
“Umar is a great addition to our franchise team bringing extensive restaurant operations experience to our brand – we’re thrilled to have him on board to develop the South Central Texas area,” said Randy Gier, Chief Eating Officer of Rave Restaurant Group, Inc. “We know Texans love Pie Five and the communities in and around San Antonio will appreciate having a fast, fresh, customized pizza option to enjoy with friends and family.”
Pie Five has grown from one location to 69 nationally in less than four years. In the last month, Pie Five has announced multi-unit development deals for new locations in North Carolina and South Florida. Pie Five opened its first location in Fort Worth in 2011 and has since expanded around the state in Dallas-Fort Worth and Houston. Locations in Austin and Lubbock will open in the coming months.
ABOUT PIE FIVE PIZZA CO.
Dallas-based Pie Five Pizza Co. is a subsidiary of RAVE Restaurant Group, Inc. (NASDAQ: RAVE). RAVE owns, franchises and supplies more than 300 Pie Five and Pizza Inn restaurants operating domestically and internationally. Pie Five Pizza Co. is the leading brand in the rapidly growing fast-casual pizza space, offering individual handcrafted pizzas with fresh ingredients made to order in less than five minutes. Named among Fast Casual’s Top “Movers & Shakers” for three consecutive years, 2015 “Best Franchise Deal” by QSR Magazine, 2012 Hot Concepts winner by Nation’s Restaurant News and one of “10 Hot New Restaurant Chains from Established Brands” by Forbes.com, the company currently has 70 locations in 18 states and the District of Columbia. For more information, please visit PieFivePizza.com.
Contact: Shannon Raymond, MWW
214-537-4335; sraymond@mww.com
(CJJD) Reports Official Online Pharmacy Sales Growth of 438% in First Half of FY16
-Branded Alibaba marketplace storefront sales growth of 130%
HANGZHOU, China, Oct. 13, 2015 — China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the “Company” or “China Jo-Jo”), a leading China-based retail, wholesale and online distributor of pharmaceutical and health care products through its own online and retail pharmacies, announced preliminary half year fiscal 2016 sales estimates for the Company’s official branded online pharmacy through www.dada360.com, growing 438% year over year, consolidated gross profit margin was a record 25%.
China Jo-Jo’s online sales are principally driven by four categories of products including: medical devices, OTC drugs, toiletries and nutritional supplements through the presence of 6 e-pharmacy platforms online, including the Company’s official branded website and marketplaces in Alibaba and JD.com. The Company is at the forefront of supply chain management and B2C sales in the fast growing online pharmacy space in China. The Company’s online pharmacy sales for the last four years has been led by Jo-Jo’s flagship store through Alibaba’s marketplace, however for the month of September, 2015, sales from China Jo-Jo’s own B2C website surpassed sales from the flagship store, which is indicative of the great demand for online pharmacy services in China. Additionally, sales from China Jo-Jo’s branded e-pharmacy storefront in Alibaba’s marketplace, increased by 130% in the first half of fiscal 2016.
Currently, sales from China Jo-Jo’s e-commerce platforms represent 30% of the overall sales from its physical retail stores, which increased by 10% as compared to last year; achieving expected internal sales targets for fiscal year 2016 to date. Primary reasons for the rapid growth in China Jo-Jo’s e-pharmacy business are the unmet demand for competitively priced shopping alternatives for which the Company carries roughly 8,000 products across its retail and online businesses. For the half year period, a major contributing factor to adoption of online sales is the web traffic driven to our B2C sites from “private insurance card” member holders. Private insurance cards are a fast growing segment of the Company’s business whereby member incentives for card holders include discounts, promotions and prescription reimbursements from large private insurance carriers in China. The number of qualified customers utilizing commercially available private insurance cards in this period was up 20% to roughly 220,000 participants while the variety of products available online increased 50% year over year.
China Jo-Jo believes that a main driver of its business, in particular, its e-pharmacy business is the rapid expansion of private health insurance and reform in China. Private commercial health insurance in China now accounts for less than 5% of all of the market for which the Chinese government is encouraging to grow. The Company continues to tap into this growing market through agreements that allow for exclusivity or preferred provider of pharmacy benefits which are ultimately driving transactions to the Company’s official online pharmacy pages as well as retail stores.
Mr. Qi Li, president of China Jo-Jo commented, “2015 has ushered in a new era in China and the launch of nascent but rapidly growing online pharmacy industry. We expect continued success as the industry matures, creating an evolved ecosystem to service the needs of our customers for many years to come.”
Currently, China continues to develop the online pharmacy industry and the class of products which can be sold is evolving in accordance with the government’s ability to oversee the industry. China’s Food and Drug Administration and Social Security Bureau is studying and formulating rules that will allow the industry to flourish while ensuring the safety of medicine in China. As of recent, the Chinese Ministry of Commerce has encouraged pharmacies to move forward with online to offline, “O2O”, sales in order to meet the growing demands and ability to efficiently distribute pharmaceutical products to consumers. O2O services encourages consumers to search and pay for products online that are available for pickup “offline” locally.
About China Jo-Jo Drugstores, Inc.
China Jo-Jo Drugstores, Inc., through its own retail drugstores, wholesale distributor and online pharmacy, is a leading retailer and wholesale distributor of pharmaceutical and healthcare products in China. As of June 30, 2015, the Company had 59 retail pharmacies in Zhejiang Province, China. The Company’s wholesale subsidiary not only supplies its retail stores, but also distributes drug and other healthcare products to other drugstores and drug vendors. The Company routinely posts important information on its corporate websites at www.jiuzhou-drugstore.com (Chinese) and www.chinajojodrugstores.com (English).
Forward Looking Statement
Statements in this press release regarding the Company that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements, including, but not limited to, financial guidance, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “estimate,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” “anticipate,” the negatives thereof, or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. It is routine for the Company’s internal projections and expectations to change as the quarter and year progresses, and therefore it should be clearly understood that the internal projections and beliefs upon which the Company bases its expectations may change. Although these expectations may change, the Company is under no obligation to inform you if they do. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of numerous factors, including the risks associated with the effect of changing economic conditions in the People’s Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products. Readers are referred to the reports and documents filed from time to time by the Company with the Securities and Exchange Commission for a discussion of these and other important risk factors that could cause actual results to differ from those discussed in forward-looking statements. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
(IDN) US Army’s Fort Sill Expands Adoption of Intellicheck’s Defense ID
Real-Time Identification Authentication Solution Alerts Security Officers to Potential Threats
Intellicheck Mobilisa, Inc. (NYSE MKT:IDN), a leader in identity authentication, verification and validation solutions, today announced the Company has been awarded a contract by the Fort Sill Army installation for additional units of its Defense ID™ solution.
The new contract upgrades the Intellicheck system currently in place with a combination of new Defense ID handhelds, workstations, and a Visitor/Vendor Registration and Credentialing Center running on hardened laptop equipment. Expanded use of Intellicheck’s real-time identification authentication solution will increase the capability of installation security personnel to instantly confirm the identity of, and assess the potential threat pertaining to, every individual who seeks access to the Army base.
Located just north of Lawton, Okla., Fort Sill’s 94,000 acres serve as home to a military population of approximately 16,500 together with a civilian workforce of about 7,000. Fort Sill is designated as the U.S. Army Fires Center of Excellence (FCoE) and includes the U.S. Army Field Artillery School, U.S. Army Air Defense Artillery School, the Marine Corps Field Artillery MOS School, U.S. Army 31st Air Defense Artillery Brigade, Army Basic Combat Training Center, Non-Commissioned Officer Academy and a Field Artillery Brigade. Approximately 60,000 family members live on post or in the surrounding communities, and there are approximately 23,300 military retirees living in the region. Fort Sill has played a significant role in every major American conflict since 1869.
Security personnel use Defense ID to increase situational awareness at restricted facilities by instantly authenticating the identification of visitors, vendors, and employees seeking site access and enabling rules-based access decision support, while improving operational efficiencies. Security personnel never have to lose sight of a contact as mobile devices scan the bar code of driver licenses from all U.S. states and Canadian Provinces, as well as military and other identification documents issued by government agencies. Defense ID alerts security officers of a potential threat by comparing a visitor’s identification card information with information available from public and government data sources in real time. The system subsequently determines if the identification is fake or stolen, whether the person is on Be-On-the-Look-Out (BOLO) lists, may be the subject of law enforcement wants and warrants, or listed for military base debarments and driving suspensions.
In addition to computer-based applications, the rules-based engine can be set to allow visitation only at certain pre-designated times to specific parts of the site. Defense ID’s durable handheld mobile devices assure base personnel maximum flexibility for patrol and special events.
Intellicheck Mobilisa CEO Dr. William Roof commented, “Defense ID is being increasingly deployed by US Army facilities such as Ft Sill, because it provides instantaneous access to critical information that protects people and property. We know that the security environment is constantly evolving, which is why we have added features and functionality to make our application mobile, interoperable with multiple standard and proprietary information sources and flexible in terms of programmable rules. We have enjoyed a long partnership with Fort Sill and it is a privilege to continue to provide our troops and their extended community with our industry leading solution. As a graduate of the Field Artillery Officer Basic Course (FAOBC) at Fort Sill, I am particularly pleased to be working, once again, with our terrific soldiers there. Fort Sill is among the 23 military installations and 16 U.S. ports across the US that currently deploy Defense ID and we expect increasing adoption of our military-grade security solution.”
Intellicheck’s identification authentication, verification and validation technology solutions are unique in their ability to provide accurate, real-time identification authentication and situational awareness that is fully regulatory compliant and easily integrated and customized into existing infrastructures including mobile devices. Its identity solutions support customers in the national defense, law enforcement, retail, hospitality and financial markets.
About Intellicheck Mobilisa
Intellicheck Mobilisa is an industry leader in identity authentication, verification and validation solutions in both the U.S. and Mexico. The Company holds 24 patents including many patents pertaining to identification technology. Its identity solutions support customers in the national defense, law enforcement, retail, hospitality and financial markets. The Company’s products scan, authenticate and analyze components of identity documents including driver licenses, military identification cards and other government forms of identification containing magnetic stripe, barcode and smart chip information. Once extracted from the identity card, the information can be used to populate forms as well as provide safety, security and efficiencies throughout these markets. For more information regarding Intellicheck’s innovative products, please visit www.intellicheck.com.
Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may constitute forward looking statements including, without limitation, the statements regarding Intellicheck Mobilisa’s future growth opportunities. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to general market conditions, development and product commercialization activities, and the success of its research, development and expansion of sales and marketing team, plans and strategies. These and other risks and uncertainties are identified and described in more detail in Intellicheck Mobilisa’s filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2014, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Intellicheck Mobilisa undertakes no obligation to publicly update or revise any forward-looking statements.
Intellicheck Mobilisa, Inc.
Media and Public Relations:
Sharon Schultz, 302-539-3747
or
Investor Relations:
Gar Jackson, 949-873-2789
(NBBC) & (YDKN) Announce Signing of Definitive Merger Agreement
Strengthening North Carolina’s Largest Community Bank With Greater Than $7 Billion in Assets
RALEIGH, N.C. & GREENSBORO, N.C., Oct. 13, 2015 — Yadkin Financial Corporation (NYSE:YDKN) (or “Yadkin”) and NewBridge Bancorp (NASDAQ:NBBC) (or “NewBridge”) jointly announced today that they have entered into a definitive merger agreement, pursuant to which Yadkin will acquire NewBridge. The combination will strengthen Yadkin as the largest community bank headquartered in North Carolina.
Based on financials reported on June 30, 2015, the combined company would have total assets of $7.1 billion, deposits of $5.2 billion and loans of $5.0 billion. Yadkin will operate in all major North Carolina markets, enhancing its statewide presence in its existing footprint and expanding into the Piedmont Triad.
Yadkin will acquire 100% of the outstanding shares of NewBridge in exchange for shares of Yadkin’s common stock. The exchange ratio has been fixed at 0.50 shares of Yadkin’s common stock for each share of NewBridge which equates to a deal value of $11.40 per share, or approximately $456 million in the aggregate, based on YDKN’s closing price of $22.79 as of October 12, 2015.
Scott M. Custer, YDKN’s President and Chief Executive Officer, stated, “We are excited about our merger with NewBridge, which strengthens Yadkin’s leading position as the largest community bank in North Carolina. Our combined statewide presence coupled with our shared commitment to providing best in class service uniquely positions our franchise to grow as the premier community bank in the state. The merger will also increase our presence in South Carolina with the addition of offices in the Greenville-Spartanburg and Charleston markets.”
Pressley A. Ridgill, President and Chief Executive Officer of NBBC, said, “We believe that Yadkin is the ideal partner for our bank. Both of our companies are deeply committed to our communities, and this merger will allow us to better provide quality banking services to our customers, a rewarding workplace for our employees and superior value to our shareholders.”
Yadkin will be governed by a 15 member Board of Directors consisting of 10 Yadkin directors and 5 NewBridge directors. Joseph Towell will remain Chairman of the Board, Scott Custer will remain Chief Executive Officer, and Terry Earley will remain Executive VP & Chief Financial Officer of the combined company. Pressley Ridgill will be a consultant to Yadkin.
Upon closing of the merger, Yadkin Financial Corporation shareholders will own approximately 61.3% of the combined company and NewBridge Bancorp existing shareholders will own approximately 38.7% of the combined company. The name of the holding company will remain Yadkin Financial Corporation and continue to be headquartered in Raleigh, North Carolina.
The transaction has been unanimously approved by the Board of Directors of each company and is expected to close in early Q2 2016, subject to shareholder and regulatory approval and other customary closing conditions.
Keefe, Bruyette & Woods, Inc. served as financial advisor to Yadkin, and Sandler O’Neill + Partners, L.P. served as financial advisor to NewBridge Bancorp. Skadden, Arps, Slate, Meagher & Flom LLP provided legal counsel to Yadkin Financial Corporation, and Brooks, Pierce, McLendon, Humphrey and Leonard LLP and Wachtell, Lipton, Rosen & Katz provided legal counsel to NewBridge Bancorp.
Conference Call
A conference call to discuss the transaction is scheduled for 10:00 a.m. Eastern Time (ET) on October 13, 2015. Those wishing to participate in the call may dial toll-free 1-888-228-0571 and request the Yadkin Financial Corporation Investor Call. Participants should dial in at least 15 minutes before the call begins.
A presentation regarding the transaction will be discussed on this call and can be accessed online by registering at: https://cc.callinfo.com/cc/s/registrations/new?cid=1395u63icctlu, or for download at www.yadkinbank.com and at www.newbridgebank.com on the investor relations page.
About Yadkin Financial Corporation
Yadkin Financial Corporation is the holding company for Yadkin Bank, a full-service state-chartered community bank providing services in 70 branches across North Carolina and upstate South Carolina. Serving over 80,000 customers, Yadkin has assets of $4.3 billion. Yadkin Bank’s primary business is providing banking, mortgage, investment and insurance services to residents and businesses across the Carolinas. Yadkin Bank provides mortgage-lending services through its mortgage division, Yadkin Mortgage, headquartered in Greensboro, NC. Yadkin Bank’s SBA Lending (Government Guaranteed Lending) is headquartered in Charlotte, NC. Yadkin Financial Corporation’s website is www.yadkinbank.com. Yadkin Financial Corporation’s common stock is traded on the NYSE under the symbol YDKN.
About NewBridge Bancorp
NewBridge Bancorp (NASDAQ:NBBC) is the holding company for NewBridge Bank, a $2.8 billion community-focused bank headquartered in Greensboro, North Carolina. Through 42 branches, NewBridge Bank provides a comprehensive array of personal financial solutions including banking, lending and wealth management services. NewBridge Bank’s commercial teams provide customized lending services, including SBA loans, along with sophisticated deposit and treasury management solutions to small businesses and middle market corporations. With continuous operations dating back to 1910 in the Piedmont Triad Region of North Carolina (Greensboro-Winston-Salem-High Point), NewBridge Bank’s served markets have expanded to also include Charlotte-Gastonia-Concord, Raleigh-Durham-Chapel Hill, and Wilmington in North Carolina, and Greenville-Spartanburg and Charleston in South Carolina. To make NewBridge Bank your preferred financial partner, please visit us in our offices or online at www.newbridgebank.com.
FORWARD-LOOKING STATEMENTS
The information presented herein contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 giving Yadkin’s and NewBridge’s expectations or predictions of future financial or business performance or conditions. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,” “positions,” “prospects” or “potential,” by future conditional verbs such as “will,” “would,” “should,” “could” or “may”, or by variations of such words or by similar expressions. Such forward-looking statements include, but are not limited to, statements about the benefits of the business combination transaction involving Yadkin and NewBridge, including future financial and operating results, expected cost savings, expected impact on future earnings, the combined company’s plans, objectives, expectations and intentions and other statements that are not historical facts. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time. Forward-looking statements speak only as of the date they are made and you are cautioned not to place undue reliance on any forward-looking statements. We assume no duty to update forward-looking statements.
In addition to factors previously disclosed in Yadkin’s and NewBridge’s reports filed with the Securities and Exchange Commission, the following factors among others, could cause actual results to differ materially from forward-looking statements: ability to obtain regulatory approvals and meet other closing conditions to the merger, including approval by Yadkin and NewBridge shareholders, on the expected terms and schedule; delay in closing the merger; difficulties and delays in integrating the Yadkin and NewBridge businesses or fully realizing cost savings and other benefits; business disruption following the proposed transaction; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with mergers, acquisitions and divestitures; economic conditions; the reaction to the transaction of the companies’ customers, employees and counterparties; and the impact, extent and timing of technological changes, capital management activities, and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms.
ADDITIONAL INFORMATION ABOUT THE PROPOSED TRANSACTION AND WHERE TO FIND IT
This communication is being made in respect of the proposed transaction involving Yadkin and NewBridge. This material is not a solicitation of any vote or approval of Yadkin’s or NewBridge’s shareholders and is not a substitute for the joint proxy statement/prospectus or any other documents which Yadkin and NewBridge may send to their respective shareholders in connection with the proposed merger. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities.
In connection with the proposed transaction, Yadkin intends to file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 that will include a joint proxy statement of Yadkin and NewBridge and a prospectus of Yadkin, as well as other relevant documents concerning the proposed transaction. Investors and security holders are also urged to carefully review and consider each of Yadkin’s and NewBridge’s public filings with the SEC, including but not limited to their Annual Reports on Form 10-K, their proxy statements, their Current Reports on Form 8-K and their Quarterly Reports on Form 10-Q. Both NewBridge and Yadkin will mail the joint proxy statement/prospectus to their respective shareholders. BEFORE MAKING ANY VOTING OR INVESTMENT DECISIONS, INVESTORS AND SHAREHOLDERS OF YADKIN AND NEWBRIDGE ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED MERGER WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders may obtain a free copy of the proxy statement/prospectus (when available) and other filings containing information about Yadkin and NewBridge at the SEC’s website at www.sec.gov. The joint proxy statement/prospectus (when available) and the other filings may also be obtained free of charge at Yadkin’s website at www.Yadkinbank.com, or at NewBridge’s website at www.newbridgebank.com.
Yadkin, NewBridge and certain of their respective directors and executive officers, under the SEC’s rules, may be deemed to be participants in the solicitation of proxies of Yadkin’s and NewBridge’s shareholders in connection with the proposed transaction. Information about the directors and executive officers of Yadkin and their ownership of Yadkin common stock is set forth in the proxy statement for Yadkin’s 2015 Annual Meeting of Shareholders, as filed with the SEC on Schedule 14A on April 10, 2015. Information about the directors and executive officers of NewBridge and their ownership of NewBridge’s common stock is set forth in the proxy statement for NewBridge’s 2015 Annual Meeting of Shareholders, as filed with the SEC on a Schedule 14A on April 2, 2015. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the joint proxy statement/prospectus regarding the proposed transaction when it becomes available. Free copies of this document may be obtained as described in the preceding paragraph.
CONTACT: Terry Earley, Chief Financial Officer Yadkin Financial Corporation Phone: (919) 659-9015 Email: terry.earley@yadkinbank.com
(FXENP) Announces Agreement to Be Acquired by ORLEN Upstream
– FX Energy common stockholders to receive $1.15 per share in cash – FX Energy Series B preferred stock to be redeemed for $25.00 per share in cash, plus accrued and unpaid dividends
SALT LAKE CITY, Oct. 13, 2015 — FX Energy, Inc. (NASDAQ: FXEN, FXENP) today announced that it has entered into a definitive merger agreement pursuant to which ORLEN Upstream Sp. z o.o. will acquire all of the outstanding shares of common stock of FX Energy. ORLEN Upstream is the wholly-owned exploration and production subsidiary of PKN ORLEN SA (GPW: PKN).
In the transaction, holders of FX Energy common stock will receive consideration of $1.15 per share in cash, which represents a 22% premium over the average closing price for the Company’s common stock for the 60 trading-day period ended on October 12, 2015. The transaction values FX Energy at approximately $119 million, including the Company’s net debt at June 30, 2015.
The agreement with ORLEN Upstream is the result of FX Energy’s previously announced process to explore a possible sale of the Company or other transaction and has been approved unanimously by the Company’s Board of Directors.
David N. Pierce, FX Energy’s President and Chief Executive Officer, commented, “Following a thorough process conducted with our financial advisor, the Board of Directors determined that this transaction provides the best opportunity to deliver value to our stockholders in view of the challenges we face with the current commodity-price environment, currency exchange-rate fluctuations and our current capital structure and limited access to the capital necessary to realize the value of our assets in Poland.”
Under the terms of the merger agreement, ORLEN Upstream will commence a cash tender offer to purchase all of FX Energy’s outstanding common stock, with a merger following the completion of the tender offer that would result in all shares of common stock not tendered in the tender offer being converted into the right to receive the cash consideration. The Company believes the two-step transaction will allow its common stockholders who tender their shares in the tender offer to receive the consideration more quickly than they would under a single-step merger transaction. Common stockholders who do not tender their shares in the tender offer will be entitled to receive the cash consideration upon consummation of the second-step merger.
Following the completion of the tender offer, if ORLEN Upstream owns at least 90% of the outstanding shares of FX Energy common stock, including through the exercise of a “top-up” option granted to ORLEN Upstream, the merger will be effected through a “short-form” merger without further action by stockholders of FX Energy. FX Energy has granted to ORLEN Upstream a “top-up” option to acquire directly from FX Energy after completion of the tender offer the number of shares of common stock required to effect the “short-form” merger, subject to the availability of sufficient authorized and unissued shares of FX Energy common stock. If, after the completion of the tender offer and any exercise of the “top-up” option, ORLEN Upstream owns less than 90% of the outstanding shares of FX Energy common stock, FX Energy will convene a meeting of the holders of its common stock to approve the merger. ORLEN Upstream has agreed that it will vote all shares of FX Energy common stock then owned by it in favor of approval of the merger.
The tender offer is expected to commence by October 27, 2015, and the transaction is expected to be completed in the fourth quarter of 2015 if effected as a “short-form” merger or in the first quarter of 2016 if a meeting of FX Energy’s common stockholders is required to approve the merger. The closing of the transaction is subject to customary closing conditions, including at least a majority of the outstanding shares of FX Energy common stock being tendered in the tender offer and receipt of required antitrust approvals.
The merger agreement provides that all outstanding shares of FX Energy’s 9.25% Series B Cumulative Convertible Preferred Stock will be redeemed in connection with the transaction pursuant to the terms of the preferred stock at the redemption price of $25.00 per share, plus accrued and unpaid dividends to, but not including, the redemption date.
Evercore Group, L.L.C. acted as financial advisor to FX Energy. Bracewell & Giuliani LLP and Kruse Landa Maycock & Ricks, LLC acted as legal counsel for FX Energy.
For further information regarding all terms and conditions contained in the definitive merger agreement, please see FX Energy’s Current Report on Form 8-K, which will be filed in connection with this transaction.
About FX Energy
FX Energy is an independent oil and gas exploration and production company with production in the US and Poland. The Company’s main exploration and production activity is focused on Poland’s Permian Basin where the gas-bearing Rotliegend sandstone is a direct analog to the Southern Gas Basin offshore England. The Company trades on the NASDAQ Global Select Market under the symbol FXEN. Website www.fxenergy.com.
IMPORTANT ADDITIONAL INFORMATION AND WHERE YOU CAN FIND IT
The tender offer for the outstanding shares of FX Energy’s common stock described in this communication has not commenced. This press release is for information purposes only and is not an offer to purchase or a solicitation of an offer to sell FX Energy common stock. It is also not a substitute for the tender offer materials or Solicitation/Recommendation statement to be filed by the parties. At the time the tender offer is commenced, ORLEN Upstream will file or cause to be filed Tender Offer materials on Schedule TO with the Securities and Exchange Commission (“SEC”), and thereafter FX Energy will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC related to the tender offer. The Tender Offer materials (including an Offer to Purchase, a related Letter of Transmittal and other tender offer documents) and the Solicitation/Recommendation Statement will contain important information that should be read carefully before making any decision with respect to the tender offer or tendering shares. Those materials will be made available to FX Energy’s common stockholders at no expense to them by the information agent for the tender offer, which will be announced. In addition, all of those materials (and any other documents filed with the SEC) will be available at no charge on the SEC’s website at www.sec.gov or phone, email or written request by contacting FX Energy, Inc. at the following:
Address: 3006 Highland Drive, Suite 206, Salt Lake City, Utah 84106
Phone: (801) 486-5555
Email: scottduncan@fxenergy.com
FORWARD-LOOKING STATEMENTS
Statements in this press release regarding the proposed transaction, the expected timetable for completing the proposed transaction, benefits of the proposed transaction, future financial and operating results and any other statements about the future expectations, beliefs, goals, plans or prospects of FX Energy, Inc. constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to consummate the proposed transaction; the ability to obtain requisite regulatory and stockholder approval and the satisfaction of the other conditions to the consummation of the proposed transaction; the potential impact of the announcement or consummation of the proposed transaction on relationships, including with employees, suppliers, customers and competitors; and the other factors and financial, operational and legal risks or uncertainties described in FX Energy Inc.’s Annual Report on Form 10-K for the year ended December 31, 2014 and other reports filed with the SEC under the Securities Exchange Act of 1934. FX Energy disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document except as required by law.
(AMRS) Achieves Record Low Cost Farnesene Production
Accelerates Sales Growth in Performance Polymers and Industrial Solvents Markets
EMERYVILLE, Calif., Oct. 12, 2015 — Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced that after achieving a record low manufacturing cost of $1.75 per liter for farnesene in September 2015, Amyris has also accelerated its sales activity relating to high-performance polymer-grade farnesene for the polymers market and Myralene™ as a replacement for higher-priced limonene. Amyris expects several of its current partners to place initial orders for these products based on a guaranteed price for a three-year period that is lower than current prices for the materials being replaced.
Myralene is a higher-performance industrial solvent compared to equivalent products on the market and a lower cost alternative to limonene at current prices. Customers who are switching to Myralene as an industrial solvent are purchasing at approximately a 30% lower price compared with current limonene market prices and are achieving better cleaning performance without the negative environmental impact. At these low manufacturing costs, farnesene is also now priced competitively with isoprene as a raw material for many high-performance polymer applications and delivers better functional performance for Amyris’s partners’ end-market materials.
Amyris has focused its business on the creation of innovative ingredients that serve as drop-in replacements for other materials that are costly financially and environmentally and are subject to volatile supply issues. Amyris believes it is currently the low-cost provider of high-performance materials produced from sustainably-sourced sugar cane addressing the markets referenced above, and that the total value of these global markets could soon exceed $20 billion.
“We’re very pleased with our current production cost performance and the desire of several of our long-term partners to accelerate sales of high-performance farnesene into these end markets,” said John Melo, Amyris President & CEO. “We expect our sales from these markets to grow from less than $3 million in 2015 to over $20 million in 2016, with some of the shipments starting this quarter. We are realizing our vision that lower cost, higher performance and competitively priced materials would accelerate a transition to a bio-economy and are very pleased to be working with some of the world’s leading companies in making this vision a reality while helping them grow their business.”
About Amyris
Amyris is the integrated renewable products company that is enabling the world’s leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules, specialty ingredients and consumer products. The company is delivering its No Compromise® products in focused markets, including specialty and performance chemicals, fragrance ingredients, and cosmetic emollients. More information about the company is available at www.amyris.com.
Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as lower cost production of farnesene accelerating sales of farnesene and farnesene derivatives in the polymers and industrial solvents markets, Amyris’s revenues from products in polymers and industrial solvents markets to grow from less than $3 million in 2015 to over $20 million in 2016, with some shipments starting in the fourth quarter of 2015, and global market size for these products soon exceeding $20 billion) that involve risks and uncertainties. These statements are based on management’s current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to manufacturing capacity at Amyris’s Brotas facility, delays or failures in development, production and commercialization of products, liquidity and ability to fund capital expenditures, Amyris’s reliance on third parties to achieve its goals, and other risks detailed in the “Risk Factors” section of Amyris’s quarterly report on Form 10-Q filed on August 10, 2015. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
Amyris, the Amyris logo and Myralene are trademarks or registered trademarks of Amyris, Inc.
CONTACT: Peter DeNardo Director, Investor Relations and Corporate Communications Amyris, Inc. +1 (510) 740-7481 investor@amyris.com pr@amyris.com
(FFHL) to Convene Annual General Meeting of Shareholders on October 26, 2015
BEIJING, Oct. 12, 2015 — Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) (“Fuwei Films” or the “Company”), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced that it will hold its 2015 Annual General Meeting of Shareholders (the “AGM”) on October 26, 2015 at 9:00 a.m. (Beijing Time), at No. 19 Fuxingmenwai Street Chang’an Avenue West, Beijing, 100045, People’s Republic of China. Holders of record of ordinary shares of the Company at the close of business on September 2, 2015 are entitled to receive notice of and attend the AGM or any adjournment or postponement thereof. Holders of record as of September 2, 2015 are welcome to attend the AGM in person.
The notice of the AGM is available on the “Investor Relations” section of the Company’s website at http://www.fuweiholdings.com. Fuwei Films has filed its Annual Report on Form 20-F, as amended (the “Annual Report”), including its audited financial statements for the fiscal year ended December 31, 2014 with the U.S. Securities and Exchange Commission (the “SEC”). Fuwei Films’ Annual Report can be accessed on the above-mentioned website, as well as on the SEC’s website at http://www.sec.gov. Shareholders may request a hard copy of the Company’s Annual Report, free of charge, by contacting Investors Relations by email at fuweiir@fuweifilms.com or vivian.chen@grayling.com.
About Fuwei Films
Fuwei Films conducts its business through its wholly owned subsidiary, Fuwei Films (Shandong) Co., Ltd. (“Fuwei Shandong”). Fuwei Shandong develops, manufactures and distributes high-quality plastic films using the biaxial oriented stretch technique, otherwise known as BOPET film (biaxially oriented polyethylene terephthalate). Fuwei Films’ BOPET film is widely used to package food, medicine, cosmetics, tobacco, and alcohol, as well as in the imaging, electronics, and magnetic products industries.
Safe Harbor
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission which, among other things, include both the short and long-term effects of the global financial crisis on the Company and the BOPET film industry; competition in the BOPET film industry; growth of, and risks inherent in, the BOPET film industry in China; uncertainty as to future profitability and our ability to obtain adequate financing for our planned capital expenditure requirements; uncertainty as to our ability to continuously develop new BOPET film products and keep up with changes in BOPET film technology; risks associated with possible defects and errors in our products; uncertainty as to our ability to protect and enforce our intellectual property rights; uncertainty as to our ability to attract and retain qualified executives and personnel; and uncertainty in acquiring raw materials on time and on acceptable terms, particularly in view of the volatility in the prices of petroleum products in recent years. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release. Actual results of our operations may differ materially from information contained in the forward-looking statements as a result of the risk factors.
For more information, please contact:
In China:
Mr. Yong Jiang
Board Secretary
Phone: +86 158 632 92177
Email: fuweiir@fuweifilms.com
In the U.S.:
Ms. Vivian Chen
Investor Relations
Grayling
Phone: +1-646-284-9427
Email: vivian.chen@grayling.com
(BTX) Subsidiary OncoCyte Files Form 10 for Planned Distribution
- BioTime Plans Distribution of Shares of Subsidiary OncoCyte Corporation to BioTime Shareholders
- Planned Distribution to Allow OncoCyte Greater Access to Capital Markets as a Publicly Traded Company
BioTime, Inc. (NYSE MKT and TASE: BTX), a clinical-stage regenerative medicine company with a focus on pluripotent stem cell technology, and its subsidiary OncoCyte Corporation (“OncoCyte”), today announced that OncoCyte has filed a Form 10 Registration Statement with the Securities and Exchange Commission (“SEC”) in connection with BioTime’s planned distribution OncoCyte common stock to holders of BioTime common shares, on a pro rata basis.
The filing represents an important milestone in separating BioTime’s therapeutics and cancer diagnostics businesses. BioTime expects that the distribution will provide OncoCyte with greater access to capital markets in order to obtain its own financing for its operations, separately from BioTime financings. The distribution will also allow BioTime and OncoCyte to each focus on its own strategic priorities relating to its own management, capital structure, business model, and financial goals. The distribution may also provide enhanced liquidity to holders of BioTime common shares, who after the distribution will hold two separate publicly traded securities that they may choose to monetize or retain.
BioTime continues to believe in the opportunity for cancer diagnostics and expects to continue to own a majority of the outstanding common stock in OncoCyte immediately after the distribution. The “record date” for determining BioTime shareholders entitled to receive OncoCyte common stock in the planned distribution, and the date on which the distribution will occur, have not yet been determined. However, BioTime’s plan is to effect the distribution to BioTime shareholders in late 2015, subject to certain conditions.
OncoCyte is engaged in the development of new “liquid biopsy” diagnostic tests for cancer based on analyzing patient blood or urine samples for specific gene or protein markers indicative of the presence of particular types of cancer. OncoCyte is presently developing diagnostic tests for lung cancer, breast cancer and bladder cancer.
More information about OncoCyte and the planned shared distribution can be found in the Information Statement filed as an exhibit to OncoCyte’s Form 10 Registration Statement, which is available on the “Latest News” page of OncoCyte’s website: www.oncocyte.com and the website maintained by the SEC at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any OncoCyte securities. The distribution of OncoCyte common stock by BioTime will be made only in those states and other jurisdictions where permitted or not prohibited by law.
About BioTime
BioTime, Inc., a pioneer in regenerative medicine, is a clinical-stage biotechnology company. BioTime and its subsidiaries are leveraging their industry-leading experience in pluripotent stem cell technology and a broad intellectual property portfolio to facilitate the development and use of cell-based therapies and gene marker-based molecular diagnostics for major diseases and degenerative conditions for which there presently are no cures. The lead clinical programs of BioTime and its subsidiaries include OpRegen®, currently in a Phase I/IIa trial for the treatment of the dry form of age-related macular degeneration; AST-OPC1, currently in a Phase I/IIa trial for spinal cord injuries; Renevia™, currently in a pivotal trial in Europe as an injectable matrix for the engraftment of transplanted cells to treat HIV-related lipoatrophy; and cancer diagnostics, nearing the completion of initial clinical studies for the detection of lung, bladder, and breast cancers. AST-VAC2, a cancer vaccine, is in the pre-clinical trial stage.
BioTime’s subsidiaries include the publicly traded Asterias Biotherapeutics, Inc. (NYSE MKT: AST), developing pluripotent stem cell-based therapies in neurology and oncology, including AST-OPC1 and AST-VAC2; Cell Cure Neurosciences Ltd., developing stem cell-based therapies for retinal and neurological disorders, including OpRegen®; OncoCyte Corporation, developing cancer diagnostics; LifeMap Sciences, Inc., developing and marketing an integrated online database resource for biomedical and stem cell research; LifeMap Solutions, Inc., a subsidiary of LifeMap Sciences, developing mobile health (mHealth) products; ES Cell International Pte Ltd, which has developed cGMP-compliant human embryonic stem cell lines that are being marketed by BioTime for research purposes under the ESI BIO branding program; OrthoCyte Corporation, developing therapies to treat orthopedic disorders, diseases, and injuries; and ReCyte Therapeutics, Inc., developing therapies to treat a variety of cardiovascular and related ischemic disorders.
BioTime common stock is traded on the NYSE MKT and TASE under the symbol BTX. For more information, please visit www.biotimeinc.com or connect with the company on Twitter, LinkedIn, Facebook, YouTube, and Google+.
Forward-Looking Statements
Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for BioTime and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the business of BioTime and its subsidiaries, particularly those mentioned in the cautionary statements found in BioTime’s Securities and Exchange Commission filings. BioTime disclaims any intent or obligation to update these forward-looking statements.
To receive ongoing BioTime corporate communications, please click on the following link to join our email alert list: http://news.biotimeinc.com
BioTime, Inc.
Dan L. Lawrence, 510-775-0510
dlawrence@biotimemail.com
or
Investor Contact:
EVC Group, Inc.
Michael Polyviou, 646-445-4800
mpolyviou@evcgroup.com
or
Media Contact:
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Bill Douglass, 646-504-0890
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or
Israel Contact:
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zeevg@gk-biz.com
(HRTX) Appoints Neil J. Clendeninn, M.D., Ph.D. as Senior VP, CMO
Heron Therapeutics, Inc. (NASDAQ: HRTX), a biotechnology company focused on improving the lives of patients by developing best-in-class medicines that address major unmet medical needs, today announced the appointment of Neil J. Clendeninn, M.D., Ph.D. as Senior Vice President and Chief Medical Officer. Dr. Clendeninn joins the Company today and will report to Barry D. Quart, Pharm.D., Chief Executive Officer of Heron.
“Neil has been instrumental as an advisor to the Company, specifically in his guidance during our recently completed MAGIC study for SUSTOL® (granisetron) Injection, extended release, and we are delighted that he will be joining us as a permanent member of our team,” commented Barry D. Quart, Pharm.D., Chief Executive Officer of Heron. “Neil brings over 30 years of experience in drug development and clinical practice to his role at Heron, and we look forward to his leadership in all areas of our business as we move forward in our goals of developing best-in-class medicines with the potential to improve the lives of patients suffering from cancer or pain.”
Since 2001, Dr. Clendeninn has been the president of CANAID, Inc. his own consultancy firm, and prior to joining Heron, he was an advisor to the Company in that capacity. Additionally, Dr. Clendeninn is currently a practicing physician and serves as Program Director for Palliative Medicine Partners: Complex Illness Coordination, a program of Kauai Hospice in Kauai, Hawaii. From 1993 until 2001, Dr. Clendeninn served as Senior Vice President and Head of Clinical Affairs at Agouron Inc. Prior to this, beginning in 1985, he was Director of the Clinical Oncology Department at Burroughs-Welcome Company. Simultaneous to these roles, Dr. Clendeninn served as a practicing physician and held academic faculty roles at various institutions, among them, the University of North Carolina at Chapel Hill and the National Cancer Institute at the National Institutes of Health in Rockville, MD. In addition, Dr. Clendeninn currently sits on several Boards, including the Board of Directors at OncoGenex Pharmaceuticals in Bothell, WA, and is a Scientific Medical Advisor at the Cancer Prevention & Research Initiative of Texas. Previously, he served on the Board of Scientific Advisors at the National Cancer Institute of the National Institutes of Health, from 2001 through 2005. He received an M.D. and Ph.D. degree in microbiology and pharmacology from New York University in New York, NY.
About Heron Therapeutics, Inc.
Heron Therapeutics, Inc. is a biotechnology company focused on improving the lives of patients by developing best-in-class medicines that address major unmet medical needs. Heron is developing novel, patient-focused solutions that apply its innovative science and technologies to already-approved pharmacological agents. Heron’s goal is to build on therapeutics with well-known pharmacology by improving their tolerability and efficacy as well as broadening their potential field of use. Heron is currently developing four pharmaceutical products for patients suffering from cancer or pain. SUSTOL® (granisetron) Injection, extended release is being developed for the prevention of both acute and delayed chemotherapy-induced nausea and vomiting (CINV) associated with moderately emetogenic chemotherapy (MEC) or highly emetogenic chemotherapy (HEC). CINV is one of the most debilitating side effects of chemotherapy and is a leading cause of premature discontinuation of cancer treatment. Heron recently reported positive, top-line results from its Phase 3 MAGIC study. In July 2015, Heron resubmitted its New Drug Application (NDA) for SUSTOL to the U.S. Food and Drug Administration (FDA), and the FDA has assigned a Prescription Drug User Fee Act (PDUFA) goal date of January 17, 2016. HTX-019, also being developed for the prevention of CINV, has the potential to become the first polysorbate 80-free, intravenous formulation of aprepitant, a neurokinin-1 (NK1) receptor antagonist. Heron intends to file an NDA for HTX-019 using the 505(b)(2) regulatory pathway in the second half of 2016. HTX-011 is Heron’s long-acting formulation of the local anesthetic bupivacaine in a fixed-dose combination with the anti-inflammatory meloxicam. In September 2015, Heron reported positive, top-line results from a Phase 2 study of HTX-011 in patients undergoing bunionectomy. In this study, HTX-011 significantly reduced pain intensity and the need for opioid rescue medications. HTX-011 is the subject of a broad-based development program designed to target the many patients undergoing a wide range of surgeries who experience significant post-operative pain. HTX-003, a long-acting formulation of buprenorphine, is being developed for the potential management of chronic pain and opioid addiction. All of Heron’s product candidates utilize Heron’s innovative science and technology platforms, including its proprietary Biochronomer® drug delivery technology, which can deliver therapeutic levels of a wide range of otherwise short-acting pharmacological agents over a period of days to weeks with a single injection.
For more information, please visit www.herontx.com.
Forward Looking Statements
This news release contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Heron cautions readers that forward-looking statements are based on management’s expectations and assumptions as of the date of this news release and are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, but are not limited to, those associated with: whether the U.S. Food and Drug Administration (FDA) approves the SUSTOL NDA as submitted or supports as broad of a labeled indication for SUSTOL as requested, the progress in the research and development of HTX-019, HTX-011, HTX-003 and our other programs, including the timing of preclinical, clinical, and manufacturing activities, safety and efficacy results from our studies that may not justify the pursuit of further development of our product candidates, the launch and acceptance of SUSTOL and new products generally, our financial position and our ability to raise additional capital to fund operations, if necessary, or to pursue additional business opportunities, strategic business alliances we may pursue or the potential acquisition of products or technologies, and our ability to grow our organization to sustain the commercial launch for SUSTOL, and other risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. Forward-looking statements reflect our analysis only on their stated date, and Heron takes no obligation to update or revise these statements except as may be required by law.
Heron Therapeutics, Inc.
Investor Relations Contact:
Jennifer Capuzelo, 858-703-6063
Associate Director, Investor Relations
jcapuzelo@herontx.com
or
Corporate Contact:
Barry D. Quart, Pharm D., 650-366-2626
Chief Executive Officer
(CANF) EMA Grants Orphan Designation to CF102 for Liver Cancer
10-year market exclusivity in Europe following marketing authorization in 31 European Economic Area (EEA) countries
PETACH TIKVA, Israel, Oct. 12, 2015 — Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE: CFBI), a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory and cancer diseases, today announced the Company’s oncology drug candidate, CF102, has been granted Orphan Drug Designation by the European Medicines Agency (EMA) for the indication of hepatocellular carcinoma (HCC), the most common form of liver cancer.
CF102 will benefit from protocol assistance and a 10-year market exclusivity following market authorization in the 28 European Union (EU) Member states, as well as 3 additional European Economic Area (EEA) countries.
“The EMA’s Orphan Drug designation for CF102 is the latest in a series of catalysts that we believe are accelerating the clinical development path of our liver cancer drug towards market approval. As we actively recruit patients in our Phase II study of CF102 in Europe, we are pleased the EMA will support CF102 through protocol assistance and post-authorization market exclusivity,” stated Can-Fite CEO Dr. Pnina Fishman.
In the U.S., CF102 has already received Fast Track Designation as a second line for the treatment of HCC of patients who have previously received Nexavar (sorafenib) and Orphan Drug Designation for the treatment of HCC. Israel’s Ministry of Health has also approved CF102 for Compassionate Use for HCC.
Can-Fite is conducting a Phase II study with CF102 in patients with advanced HCC in the U.S., Europe and Israel. The randomized, double blind, placebo controlled study is expected to complete enrollment by the end of the first half of 2016 in 78 patients with Child-Pugh Class B cirrhosis who failed the only FDA approved drug on the market, Nexavar® (sorafenib). Patients are treated twice daily with 25 mg of oral CF102, which has been found to be the most efficacious dose in Can-Fite’s earlier Phase I/II study resulting in the longest overall survival time, with excellent safety results.
According to Global Industry Analysts, the global market for liver cancer drugs is projected to exceed $2 billion in 2015. Nexavar® annual sales, as reported by Bayer, were €773 million in 2014.
About CF102
CF102 is a small orally bioavailable drug that binds with high affinity and selectivity to the A3 adenosine receptor (A3AR). A3AR is highly expressed in tumor cells whereas low expression is found in normal cells. This differential effect accounts for the excellent safety profile of the drug. In Can-Fite’s pre-clinical and clinical studies, CF102 has demonstrated a robust anti-tumor effect via deregulation of the Wnt signaling pathway, resulting in apoptosis of liver cancer cells.
About Can-Fite BioPharma Ltd.
Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE: CFBI) is an advanced clinical stage drug development Company with a platform technology that is designed to address multi-billion dollar markets in the treatment of cancer, inflammatory disease and sexual dysfunction. The Company is preparing for a Phase III CF101 trial for rheumatoid arthritis and is preparing its protocol for its next advanced psoriasis clinical trial. Can-Fite’s liver cancer drug CF102 is in Phase II trials and has been granted Orphan Drug Designation in the U.S. and Europe and Fast Track Designation as a second line treatment for hepatocellular carcinoma by the U.S. Food and Drug Administration. CF102 has also shown proof of concept to potentially treat other cancers including colon, prostate, and melanoma. The Company’s CF602 has shown efficacy in the treatment of erectile dysfunction. Can-Fite has initiated a full pre-clinical program for CF602 in preparation for filing an IND with the U.S. FDA in this indication. These drugs have an excellent safety profile with experience in over 1,200 patients in clinical studies to date. For more information please visit: www.can-fite.com.
Forward-Looking Statements
This press release may contain forward-looking statements, about Can-Fite’s expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, Can-Fite or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by Can-Fite with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of Can-Fite’s authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Can-Fite’s actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause Can-Fite’s actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in Can-Fite’s filings with the SEC and in its periodic filings with the TASE. In addition, Can-Fite operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. Can-Fite does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.
Contact
Can-Fite BioPharma
Motti Farbstein
info@canfite.com
+972-3-9241114
(OGES) Recognized for Ushering in New Era in Battery Manufacturing, Creating Local Jobs
Florida Governor Celebrates Oakridge’s Expansion Plans to Create 1,000 New Jobs, Awards the Company With the “Governor’s Business Ambassador” Medal
PALM BAY, FL–(Oct 12, 2015) – Oakridge Global Energy Solutions, Inc. (OTCQB: OGES) recently received impressive accolades from a major press conference in which Florida Governor Rick Scott, joined by several local dignitaries and business entrepreneurs, met with members of the Oakridge staff and executive team to celebrate the Company’s upcoming expansion plans and their impact on the local community.
The event took place on October 6 when Governor Scott, along with Space Coast Economic Development Commission CEO Lynda Weatherman, City of Palm Bay Mayor William Capote, and several other distinguished guests, visited Oakridge’s new corporate headquarters and manufacturing center in Palm Bay to recognize the Company’s expansion and subsequent creation of 1,000 new jobs in the community. This expansion is part of Oakridge’s existing and ongoing $270 million investment in its Brevard County lithium ion battery development and manufacturing facilities.
After his tour of Oakridge’s sprawling new 68,718-square-foot facility — a necessary upgrade from the Company’s previous 12,500-square-foot facility – Governor Scott addressed the throng of major media outlets from Central Florida, stating, “Oakridge Global Energy Solutions could have moved their headquarters anywhere in the world and I am proud to announce that they chose to remain in Florida and create 1,000 new jobs. Growing businesses like Oakridge… create opportunities for Floridians to provide for their families and build great careers, and that is why we will work with the Legislature to fully fund Enterprise Florida so more businesses have the opportunity to grow in Florida.”
The Governor personally greeted each Oakridge employee during his visit, and bestowed the prestigious “Governor’s Business Ambassador” Medal to Oakridge Executive Chairman and CEO, Steve Barber.
“I am excited to receive such a distinction from Governor Scott and his strong backing for what we are doing at Oakridge on the Space Coast. In Governor Scott, the State of Florida has a great leader committed to job creation, and I know that we have made the right decision to continue our growth strategy for Oakridge by staying in Florida, especially on the Space Coast and in Palm Bay. “Few things matter more to families than well-paying jobs”, he stated afterward. “This celebration today is really about 1,000 Florida families who are now going to have good jobs in the future for the long term at Oakridge. The “Governor’s Business Ambassador” Medal will hang proudly in my office as we create those jobs”.
“We really appreciate the support of Governor Scott, Enterprise Florida, the EDC of Florida’s Space Coast, and our local partners at the City of Palm Bay, especially Major Capote, as we begin this great expansion. Oakridge is proud to be a Florida business that offers high quality, “Made in America” products to customers across the world.”
Local leaders also reminded the standing crowd that October is “Manufacturing Month.” Florida currently has approximately 321,000 manufacturing employees in various industries. Bill Johnson, president and CEO of Enterprise Florida, said, “Oakridge Global Energy Solutions’ expansion and creation of 1,000 new jobs is exciting news for our state. As we continue to diversify our economy and market, Florida is the best state for business. Projects like Oakridge are great examples of what we can accomplish as a state.”
Oakridge’s planned jobs growth and corporate expansion will start immediately and continue to roll-out throughout the course of approximately three years.
About Oakridge Global Energy Solutions, Inc.
Oakridge Global Energy Solutions Inc. is a publicly traded company, trading under the symbol OGES on the OTCQB with a market capitalization of approximately USD $300,000,000. Oakridge’s strategy is to simultaneously deliver innovation and build an industrial scale platform that includes multiple lithium ion technologies and form factors that are optimized to address four target markets:
- The Freedom Series for stationary and grid storage, telecom backup and living space power for RVs, trucks and boats;
- The Pro Series for motive applications including fleet vehicles, Local Area Electric Vehicles and Hybrid Electric Vehicles, especially golf cars;
- The Patriot Series for specialty applications including Remote Control Civilian and Military Aerial, Land and Underwater vehicles, including the hobby market;
- The Liberty Series for starter motor batteries for motorcycles, jet skis, ski mobiles and boats.
Oakridge’s technology team is strongly engineering driven, with core capabilities in materials, product design, process control, manufacturing technology, quality and safety. The management team is comprised of individuals with long-term experience in both innovative startup companies and large industrial entities with worldwide operations in Chemical and Energy related sectors. Oakridge maintains its headquarters in the USA where it also has established product development and low volume manufacturing infrastructure. The company plans to expand in the US, EU, and Asia.
Additional information can be accessed on the company’s website at www.oakg.net.
Forward-Looking Statement Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statement contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknowns risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to e materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
Contact:
The Company:
Oakridge Global Energy Solutions, Inc.
www.oakg.net
Info@oakg.net
3520 Dixie Highway, NE
Palm Bay, Florida 32905 USA
Phone (321) 610-7959
Investors:
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(GLBL) Names Alejandro Hernandez Chief Financial Officer
BETHESDA, Md., Oct. 09, 2015 — TerraForm Global, Inc. (NASDAQ:GLBL), (the “Company”) today announced that Alejandro “Alex” Hernandez has been appointed as its Executive Vice President and Chief Financial Officer, effective on October 9, 2015. Mr. Hernandez will continue in his capacity as EVP and CFO of TerraForm Power, Inc. (NASDAQ:TERP). He will report directly to Carlos Domenech, the Company’s Chief Executive Officer.
Mr. Hernandez has served as the CFO of TerraForm Power since September 2014. Previously, Mr. Hernandez was Managing Director in the Investment Banking Division of Goldman, Sachs & Co. In that role, Mr. Hernandez was responsible for primary coverage of North American energy companies in the power, utility and renewable energy sectors, and provided strategic and capital markets advice to management teams and Boards of Directors.
“Mr. Hernandez’s broad-based experience as an energy finance professional, including his expertise in capital formation, strategic advisory, and risk management, provides TerraForm Global a solid platform to help drive value for our shareholders,” commented Mr. Domenech. “Alex’s leadership has been instrumental to the TerraForm platform. We welcome Alex to TerraForm Global and look forward to working with him as a core member of the TerraForm Global team.”
Mr. Hernandez earned a BA, cum laude, in Economics from Rice University, a BSc General Course from the London School of Economics, and an MBA from Columbia Business School. He currently serves as a Roundtable member of the James A. Baker III Institute for Public Policy at Rice University.
Mr. Hernandez replaces Mr. Jeremy Avenier, who will return to SunEdison as Head of SunEdison’s Corporate FP&A function. Mr. Avenier has agreed to be available for assistance during the transition period. “Jeremy was a key member of the team behind the IPO of TerraForm Global,” said Mr. Domenech. “We have appreciated Jeremy’s hard work at TerraForm Global and look forward to his continued contribution in his new role.”
About TerraForm Global
TerraForm Global (NASDAQ:GLBL) is a renewable energy leader that is changing how energy is generated, distributed, and owned. TerraForm Global creates value for its investors by owning and operating renewable energy power plants. For more information about TerraForm Global, please visit: http://www.terraform.com.
Media contact: Anne Granfield Finsbury for TerraForm Global anne.granfield@finsbury.com +1 (646) 805-2033 Investors / Analysts contact: Brett Prior bprior@terraform.com +1 (650) 889-8628
(BPTH) Completes Cohort 7 of Phase Ib Liposomal Grb-2 Clinical Trial in AML
One of two patients evaluated achieved complete remission; second patient shows continued improvement
Company opens enrollment into eighth and final cohort of Phase Ib clinical trial
Bio-Path Holdings, Inc., (NASDAQ:BPTH) (“Bio-Path”), a biotechnology company developing a liposomal delivery technology for nucleic acid cancer drugs, today announced the successful completion of Cohort 7 of its Phase Ib clinical trial evaluating the toxicity of its lead compound, Liposomal Grb-2, combined with low-dose cytarabine (LDAC) chemotherapy in patients with advanced Acute Myeloid Leukemia (AML). Bio-Path has opened enrollment into Cohort 8, which will complete the Company’s Phase Ib study of Liposomal Grb-2.
Three patients were evaluated in Cohort 7, which was the first cohort of the Company’s Phase Ib trial to evaluate the toxicity of Liposomal Grb-2 as a combination therapy. Patients were treated twice a week for four weeks with 60 mg/m2 of Liposomal Grb-2, for a total of eight doses in combination with the standard regimen of LDAC. Results were consistent with previous cohorts, showing Liposomal Grb-2 to be safe and well tolerated.
Furthermore, one patient achieved complete remission during treatment. A second patient demonstrated improvement in bone marrow blasts at the end of the first treatment cycle and is continuing Liposomal Grb-2 treatment as part of an additional treatment cycle. The third evaluable patient completed the treatment cycle, but did not show improvement. One patient ended the study early due to disease progression, and therefore was not evaluated in this cohort.
“I am highly encouraged to see that a patient suffering from advanced AML who was treated with Liposomal Grb-2 has achieved complete remission, and that another patient is continuing to improve,” said Peter Nielsen, President and Chief Executive Officer of Bio-Path. “Complete remission in a patient with refractory and treatment-resistant AML is an exciting milestone for Bio-Path and blood cancer patients, suggesting that Liposomal Grb-2 might have the potential to improve survival rates in combination with frontline chemotherapy. We anticipate that these positive results will support rapid enrollment into Cohort 8, and look forward to continuing the development of Liposomal Grb-2.”
Bio-Path has opened Cohort 8 for patients to be treated with 90 mg/m2 of Liposomal Grb-2, in combination with frontline LDAC. Upon successfully completing the evaluation of three patients in Cohort 8, the Company will finalize the Phase Ib clinical study.
About Bio-Path Holdings, Inc.
Bio-Path is a biotechnology company focused on developing therapeutic products utilizing its proprietary liposomal delivery technology designed to systemically distribute nucleic acid drugs throughout the human body with a simple intravenous transfusion. Bio-Path’s lead product candidate, Liposomal Grb-2, is in a Phase II study for blood cancers and in preclinical studies for triple negative and inflammatory breast cancers. Bio-Path’s second drug candidate, also a liposomal antisense drug, is ready for the clinic where it will be evaluated in lymphoma and solid tumors.
For more information, please visit the Company’s website at http://www.biopathholdings.com.
Forward-Looking Statements
Any statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including Bio-Path’s ability to raise needed additional capital on a timely basis in order for it to continue its operations, have success in the clinical development of its technologies, the timing of enrollment and release of data in such clinical studies and the accuracy of such data, limited patient populations of early stage clinical studies and the possibility that results from later stage clinical trials with much larger patient populations may not be consistent with earlier stage clinical trials, and such other risks which are identified in the Company’s most recent Annual Report on Form 10-K and in any subsequent quarterly reports on Form 10-Q. These documents are available on request from Bio-Path Holdings or at www.sec.gov. Bio-Path disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investors
Bio-Path Holdings, Inc.
Kara Andress, 832-742-1357
Investor Relations
or
Rx Communications Group, LLC
Steve Silver, 917-322-2569
ssilver@rxir.com
or
Media
6 Degrees
Tony Plohoros, 908-591-2839
tplohoros@6degreespr.com
(XOMA) Chairman & CEO Inducted Into Chicago Area Entrepreneurship Hall of Fame
DUBLIN, IRELAND–(Oct 9, 2015) – Horizon Pharma plc (NASDAQ: HZNP), a biopharmaceutical company focused on improving patients’ lives by identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs, today announced that Chairman, President and Chief Executive Officer Timothy P. Walbert, received the Chicago Area Entrepreneurship Hall of Fame Award from the University of Illinois at Chicago’s (UIC) Institute for Entrepreneurial Studies (IES). The award recognizes distinguished business people who have demonstrated their entrepreneurial talent by fostering a thriving, diversified economic engine in Chicago and have enhanced Chicago’s communities.
“I am honored to receive this award and to be recognized among such a renowned group of Chicago entrepreneurial leaders,” Walbert said. “From our humble beginnings in Palo Alto to becoming an integral part of Chicago’s biotech ecosystem, Horizon has been committed to measuring success not just by the growth of our business, but also through our civic engagement and local philanthropy.”
Walbert joined Horizon Pharma in June 2008 as president and chief executive officer, and he has served as chairman of the company’s board of directors since 2010. In that time, he has grown Horizon Pharma from one employee working out of a coffee shop to more than 700 global employees with offices in four countries. Walbert also serves as chairman of the board of Egalet Corporation (NASDAQ: EGLT) and sits on the boards of directors of XOMA Corporation (NASDAQ: XOMA), the Pharmaceutical Research and Manufacturers of America (PhRMA), the Biotechnology Industry Organization (BIO), the Illinois Biotechnology Industry Organization (iBIO), ChicagoNEXT, which is the World Business Chicago’s innovation business development community, and the Greater Chicago Arthritis Foundation. He is also a member of the Illinois Innovation Council.
Walbert and Horizon Pharma are also active supporters of civic programs that focus on the areas of youth education, Science, Technology, Engineering and Mathematics (STEM) programs and children’s literacy, among others, as well as programs that foster innovation.
Chicago Area Entrepreneurship Hall of Fame Award nominees participated in personal interviews with a panel of judges and members of the Chicago Area Entrepreneurship Hall of Fame, who evaluated each nominee and selected winners based on their social and commercial contributions to strengthen Chicago’s economic environment and enhance the surrounding communities. The award was presented during the IES’ 30th Chicago Area Entrepreneurship Hall of Fame Dinner and Awards Ceremony on Thursday, October 8, 2015.
About Horizon Pharma plc
Horizon Pharma plc is a biopharmaceutical company focused on improving patients’ lives by identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs. The Company markets seven medicines through its orphan, primary care and specialty business units. Horizon’s global headquarters are in Dublin, Ireland. For more information, please visit www.horizonpharma.com. Follow @HZNPplc on Twitter or view careers on our LinkedIn page.
About The Chicago Area Entrepreneurship Hall of Fame Award
The Chicago Area Entrepreneurship Hall of Fame Award is the oldest and most prestigious Chicago Area Entrepreneurship Award. Each year the Entrepreneurship Hall of Fame Award recognizes innovative business leaders nominated from throughout the greater Chicago metropolitan area. For 30 years, we have inducted renowned entrepreneurial leaders into the Chicago Area Entrepreneurship Hall of Fame community, which now includes nearly 500 individuals. We turn to the members of the Entrepreneurship Hall of Fame community to enrich the entrepreneurship experience at UIC. Members have volunteered as speakers, mentors, judges and have sponsored programs and events. Their personal and financial support has been important to advancing our initiatives. By sharing their experiences and lessons learned, they inspire and educate our students, faculty, staff and alumni.
About University of Illinois at Chicago Institute for Entrepreneurial Studies
IES is UIC’s resource for inspiring and empowering entrepreneurs. We offer a portfolio of diverse programs — classes, workshops, challenges, and certificates that introduce new venture development skills and experiences. Our programs are applied, interdisciplinary and tailored with a bias toward action. They extend and complement traditional university courses. IES can connect you with experts, mentors, other entrepreneurs and the growing resources of the entrepreneurial community beyond UIC. We are a proud sponsor of the Illinois SBDC at UIC, which has served over 2000 entrepreneurs who launched over 200 businesses, creating 2,600 jobs and securing over $85 million in funding.
Contacts:
Media:
Geoff Curtis
Group Vice President, Corporate Communications
gcurtis@horizonpharma.com
(USAT) to Exhibit at The Atlantic Coast Exposition 2015, Booth #205
USA Technologies, Inc. (NASDAQ:USAT), a leader of wireless, cashless payment and M2M/IoT solutions for small-ticket, self-serve retailing industries, will be attending the Atlantic Coast Exposition ( ACE) at the Embassy Suites Hotel at Kingston Plantation in Myrtle Beach, SC. ACE 2015, which takes place October 8 – 10th, addresses the growing vending, office coffee and food service industry. The company will be showcasing its latest cashless payment solutions at booth #205.
USAT provides the industry’s most wide-ranging suite of services designed to connect the self-serve retail business to more sales, better operating data and stronger consumer relationships. The Company will be demonstrating its ePort Connect® technology, its premier NFC-enabled cashless payment and telemetry solutions, as well as the latest mobile technologies platform integration.
“There is a growing need for cashless solutions in the unattended retail market,” said Cecil Ledesma, VP of Regional Account Sales for USA Technologies. “With the continued adoption of mobile payments and increased credit and debit card use, there is a true need for technology infrastructure that addresses cashless payments and accepts mobile payment alternatives such as Apple and Android Pay. We will be showcasing our complete portfolio for the self-serve market.”
As part of the company’s visit to South Carolina, USA Technologies made a $2500 donation to the American Red Cross on behalf of flood victims in South Carolina.
Useful Links:
USA Technologies: https://usatech.com/
Twitter: https://twitter.com/usa_tech
YouTube: https://www.youtube.com/watch?v=OR-WnaPDAd4
Resource Center: https://usatech.com/resource-center/the-benefits
Sales and Partnership Inquiries:
Please contact USA Technologies, Inc. at +1 800.633.0340 or sales@usatech.com.
About USA Technologies:
USA Technologies is a leader of wireless, cashless payment and M2M telemetry flagship service platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of small ticket, self-service retailing industries. USA Technologies also provides a broad line of cashless acceptance technologies including its NFC- ready ePortG-series, ePort MobileTM for customers on the go, and QuickConnect, an API Web service for developers. USA Technologies has been granted 87 patents; and has agreements with Verizon, Visa, Chase Paymentech and customers such as Compass and others. Visit the website at www.usatech.com.
Forward-looking Statements:
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: All statements, other than statements of historical fact included in this release, are forward-looking statements. When used in this release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, and similar expressions, as they relate to USAT or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of USAT’s management, as well as assumptions made by and information currently available to USAT’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, business, financial market and economic conditions; the possibility that a customer would fail to or delay deploying cashless technologies in all of their point of sale locations; whether our suppliers would increase their prices, reduce their output or change their terms of sale which could, among other things, reduce the number of connections; whether USAT’s customers continue to utilize USAT’s transaction processing and related services, as our customer agreements are generally cancelable by the customer on thirty to sixty days’ notice; the extent to which USAT’s 2015 Cashless Knowledge Base is predictive of future market conditions, customer and consumer behavior, average ticket prices and cashless sales across all of USAT’s customer locations; the possibility that all of the expected benefits from adoption of cashless payment will not be realized by all vending operators, or will not be realized within the expected time period; and whether, and to what extent, mobile payment technologies have resulted in, and will result in, increased cashless usage and business growth for customers; and the ability of USAT to accurately predict future market conditions and customer behavior. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release speaks only as of the date of this release. Unless required by law, USAT does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.
G-USAT
Media:
ANW Networks
Alicia V. Nieva-Woodgate, +1 415.515.0866
alicia@anwnetworks.com
or
Emily F. Porro, +1 347.960.3603
emily@anwnetworks.com
or
Investors:
Blueshirt Group
Michael Bishop, +1 415.217.4968
mike@blueshirtgroup.com
(GOMO) Announces Extraordinary General Meeting of Shareholders
GUANGZHOU, China, Oct. 9, 2015 — Sungy Mobile Limited (NASDAQ:GOMO) (“Sungy Mobile” or the “Company”), a leading provider of mobile internet products and services globally with a focus on applications and mobile platform development, today announced that it has called an extraordinary general meeting of shareholders (the “EGM”), to be held on November 16, 2015 at 10:00 a.m. (Beijing time), at Floor 17, Tower A, China International Center, No. 33 Zhongshan 3rd Road, Yuexiu District, Guangzhou 510055, People’s Republic of China, to consider and vote on, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger, dated June 8, 2015 (the “Merger Agreement”) with Sunflower Parent Limited, an exempted company incorporated with limited liability under the laws of the Cayman Islands (“Parent”) formed by Mr. Yuqiang Deng (“Mr. Deng”), Mr. Zhi Zhu (“Mr. Zhu”), IDG-Accel China Growth Fund L.P., IDG-Accel China Growth Fund-A L.P., IDG Technology Venture Investment III, L.P., IDG-Accel China Investors L.P. and CBC Mobile Venture Limited and Sunflower Merger Sub Limited, an exempted company incorporated with limited liability under the laws of the Cayman Islands (“Merger Sub”) and a wholly owned subsidiary of Parent, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands, substantially in the form attached as Annex A to the Merger Agreement (the “Plan of Merger”) and the transactions contemplated thereby, including the Merger (as defined below).
Pursuant to the Merger Agreement, Merger Sub will be merged with and into the Company with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the “Merger”). If consummated, the Merger would result in the Company becoming a privately-held company and its American depositary shares (the “ADSs”) would no longer be listed on the NASDAQ Global Selected Market and the ADS program would be terminated. The Company’s board of directors, acting upon the unanimous recommendation of a special committee of the Company’s board of directors composed entirely of independent directors, recommends that the shareholders and ADS holders vote FOR, among other things, the proposal to approve the Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger.
Shareholders of record at the close of business in the Cayman Islands on October 23, 2015 will be entitled to attend and vote at the EGM and any adjournment thereof. The record date for ADS holders entitled to instruct JPMorgan Chase Bank, N.A., the ADS depositary, to vote the shares represented by the ADSs is the close of business in New York City on October 13, 2015. Additional information regarding the EGM and the Merger Agreement can be found in the transaction statement on Schedule 13E-3 and the proxy statement attached as Exhibit (a)-(1) thereto, as amended, filed with the U.S. Securities and Exchange Commission (the “SEC”), which can be obtained, along with other filings containing information about the Company, the proposed Merger and related matters, without charge, from the SEC’s website (www.sec.gov). SHAREHOLDERS AND ADS HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED MERGER AND RELATED MATTERS.
The Company and certain of its directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be “participants” in the solicitation of proxies from our shareholders with respect to the proposed Merger. Information regarding the persons who may be considered “participants” in the solicitation of proxies is set forth in the definitive proxy statement and Schedule 13E-3 transaction statement relating to the proposed Merger. Further information regarding persons who may be deemed participants, including any direct or indirect interests they may have, is also set forth in the definitive proxy statement.
This announcement is neither a solicitation of a proxy, an offer to purchase nor a solicitation of an offer to sell any securities and it is not a substitute for any proxy statement or other filings that have been or will be made with the SEC.
About Sungy Mobile Limited (http://www.gomo.com)
Sungy Mobile Limited (Nasdaq:GOMO) is a leading provider of mobile internet products and services globally with a focus on applications and mobile platform development. Sungy Mobile’s platform product, GO Launcher EX, manages apps, widgets and functions on Android smartphones and serves as users’ first entry point to their phones; it is the mobile access point from which many Android users are able to find new and innovative ways to customize their experience, download apps and interact with their mobile devices every day.
Safe Harbor Statement
This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Sungy Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
CONTACT: For further information, please contact ICR, Inc. Vera Tang Tel: +1-646-417-5388 Email: IR@gomo.com
(CXRX) Provides Update on AMCo Acquisition
OAKVILLE, ON, Oct. 9, 2015 – Concordia Healthcare Corp. (“Concordia” or the “Company”) (NASDAQ: CXRX) (TSX: CXR) is pleased to provide an update on its acquisition of Amdipharm Mercury Limited (“AMCo”). As previously announced, the Company has fully committed debt financing of approximately US$2.8 billion from certain financial institutions to fund the balance of the purchase price for AMCo and to refinance certain Concordia and AMCo debt. Pro forma for this debt financing, Concordia’s total debt will have a maximum blended interest rate of approximately 7.25 per cent.
On September 30, 2015, Concordia announced that it completed its underwritten public offering of 8,000,000 common shares for aggregate gross proceeds of US$520 million. The proceeds from the debt financing and equity offering, along with cash on hand, will be used to complete the acquisition of AMCo, which is scheduled to close on or about October 21, 2015.
The acquisition of AMCo is expected to significantly diversify the Company’s geographic base and transform its growth platform by allowing it to drive organic growth across the business. Following closing of the transaction, the United States is expected to represent approximately 40 per cent of Concordia’s annual revenue. A major growth driver of the combined business over the next three years is expected to be organic, volume-based growth opportunities driven by AMCo’s pipeline of approximately 60 planned new product launches.
About Concordia
Concordia is a diverse healthcare company focused on legacy pharmaceutical products and orphan drugs. Concordia’s legacy pharmaceutical division, Concordia Pharmaceuticals Inc., consists of a portfolio of branded products and authorized generic contracts, including branded products such as Nilandron®, for the treatment of metastatic prostate cancer; Dibenzyline®, for the treatment of pheochromocytoma; Lanoxin®, for the treatment of mild-to-moderate heart failure and atrial fibrillation; Plaquenil®, for the treatment of lupus and rheumatoid arthritis, Donnatal® for the treatment of irritable bowel syndrome and Zonegran® (zonisamide) for treatment of partial seizures in adults with epilepsy. Concordia’s orphan drugs division owns Photofrin®. Photofrin® is marketed by Pinnacle Biologics, Inc. in the United States.
Concordia operates out of facilities in Oakville, Ontario; Bridgetown, Barbados; Roanoke, Virginia and has a specialty healthcare distribution (SHD) division that operates out of Kansas City, Missouri. Pinnacle Biologics, Inc. is located in Chicago, Illinois.
Notice regarding forward-looking statements:
This news release includes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of Canadian securities laws, regarding Concordia and its business, which may include, but are not limited to the use of proceeds of the equity offering and debt financing, the completion of the debt financing, the effect of the acquisition of AMCo on the Company, growth of AMCo and Concordia, the completion of the acquisition of AMCo and timing thereof, organic growth and the sources thereof, the diversification of the Company’s geographic base and Concordia’s revenue by geography. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of Concordia’s management, and are based on assumptions and subject to risks and uncertainties. Although Concordia’s management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this news release may not occur by certain dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Concordia, including risks relating to Concordia’s securities, the acquisition of AMCo, increased leverage, the inability to generate cash flows and/or stable margins, the pharmaceutical industry and the regulation thereof, economic factors, the equity and debt markets generally, general economic and stock market conditions and many other factors beyond the control of Concordia. Although Concordia has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Concordia undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
(CORE) Murphy USA and Core-Mark Enter Strategic Supply Agreement
EL DORADO, AR and SOUTH SAN FRANCISCO, CA–(Oct 7, 2015) – Murphy USA Inc. (NYSE: MUSA) and Core-Mark Holding Company, Inc. (NASDAQ: CORE) announced today that they have entered into a five year supply agreement whereby Core-Mark will be the primary wholesale distributor to Murphy USA, delivering over 75% of the merchandise sold in their stores. Services under this contract are expected to begin in the first quarter of 2016 and estimated to generate approximately $1.7 billion in annualized revenue for Core-Mark while creating efficiencies and a strategic supply chain relationship for Murphy USA.
“We are confident the Core-Mark team will be an excellent strategic partner for Murphy USA, and we look forward to working together to achieve our mutual goals of profitable growth, efficient operations and superior execution for our stores and our customers,” said Andrew Clyde, President and Chief Executive Officer of Murphy USA.
“This contract win, driven by our trusted relationships and transparent approach, is a bell weather moment for this organization,” said Thomas B. Perkins, President and Chief Executive Officer of Core-Mark. “We are committed to serving Murphy USA stores with operational excellence and an innovative approach.”
Murphy USA
Murphy USA is a leading marketer of retail motor fuel products and convenience merchandise with over 1,275 locations in 23 states across the Southwest, Southeast and Midwest United States. Its stores are 100% company operated. For more information, please visit corporate.murphyusa.com.
Core-Mark
Core-Mark is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Founded in 1888, Core-Mark offers a full range of products, marketing programs, and technology solutions to over 36,000 customer locations in the U.S. and Canada through 29 distribution centers (excluding two distribution facilities the Company operates as a third party logistics provider). Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores, and other stores that carry convenience products. For more information, please visit www.core-mark.com.
(UBIC) and Hearts United Group to Launch Joint Stud
NEW YORK, Oct. 7, 2015 — UBIC, Inc. (Nasdaq:UBIC) (TSE:2158) (“UBIC” or “the Company”), a leading provider of AI-based, big data analysis services announced that it has reached an agreement in principle with Hearts United Group Co., Ltd. to conduct a joint study. The study is intended to develop advanced technology and services to discover security holes and bugs in software programs by leveraging data concerning more than one million bugs collected by Digital Hearts Ltd., a subsidiary of Hearts United Group.
The two companies will launch a study on a unique, AI-based approach to software bug detection based on data collected through Hearts United Group’s debugging and cyber security services and the experiences and intuitions cultivated by professionals over many years. This data will be used in combination with UBIC’s AI analysis system that learns tacit knowledge and predicts human behavior. With the aim of establishing advanced cybersecurity technology that supports a more safe and comfortable digital society, Hearts United Group and UBIC will also endeavor to create and provide value-added services and expand the scope of their businesses.
Hearts United Group provides debugging services that detect and report software bugs through Digital Hearts and other subsidiaries. Hearts United Group’s strength lies in its workforce of more than 8,000 employees, including debugging specialists capable of discovering unexpected bugs through their abundant experience and intuition, as well as its efficient debugging techniques based on data accumulated since its foundation.
By taking advantage of these strengths, Hearts United Group has detected more than one million bugs to date in the field of system verification related to game entertainment, web and financial systems. Moreover, it has recently expanded the coverage of its services by launching a debugging service to evaluate software vulnerabilities in the automobile industry, a sector in which automated driving technology and cybersecurity are becoming more advanced and important.
UBIC provides data analysis services with a processing speed 4,000 times faster than human experts by incorporating professionals’ tacit knowledge, including experience and intuition, into Virtual Data Scientist, an artificial intelligence (AI)-based software program. UBIC has provided the data analysis service in more than 1,500 cases of international litigation support and fraud investigation. Having expanded the scope of its AI applications to cover fields such as healthcare, marketing and business intelligence, UBIC excels in predicting human behavior and detecting signs of risk and opportunity based on the science of behavior informatics.
About UBIC, Inc.
UBIC, Inc. (Nasdaq:UBIC) (TSE:2158) supports the analysis of big data based on behavior informatics by utilizing its technology, “VIRTUAL DATA SCIENTIST” or VDS. UBIC’s VDS technology is driven by UBIC AI based on knowledge acquired through its litigation support services. The VDS incorporates experts’ tacit knowledge, including their experiences and intuitions, and utilizes that knowledge for big data analysis. UBIC continues to expand its business operations by applying VDS to new fields such as healthcare and marketing.
UBIC was founded in 2003 as a provider of e-discovery and international litigation support services. These services include the preservation, investigation and analysis of evidence materials contained in electronic data, and computer forensic investigation. UBIC provides e-discovery and litigation support by making full use of its data analysis platform, “Lit i View®”, and its Predictive Coding technology adapted to Asian languages.
For more information about UBIC, contact usinfo@ubicna.com or visit http://www.ubic-global.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the amount of data that UBIC expects to manage this year and the potential uses for UBIC’s new service in intellectual property-related litigation, contain forward-looking statements. UBIC may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about UBIC’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: UBIC’s goals and strategies; UBIC’s expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, UBIC’s services; UBIC’s expectations regarding keeping and strengthening its relationships with customers; UBIC’s plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where UBIC provides solutions and services. Further information regarding these and other risks is included in UBIC’s reports filed with, or furnished to the Securities and Exchange Commission. UBIC does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and UBIC undertakes no duty to update such information, except as required under applicable law.
CONTACT: UBIC Global PR UBIC North America, Inc. Tel: (212) 924-8242 global_pr@ubic.co.jp
(NVLS) Positive Phase 1b Results for N91115 in Cystic Fibrosis
– No dose limiting toxicities were observed and N91115 was well tolerated in the study
– Data to be presented at the North American Cystic Fibrosis Conference
BOULDER, Colo., Oct. 07, 2015 — Nivalis Therapeutics, Inc. (NASDAQ:NVLS), a clinical stage pharmaceutical company focused on treating people with cystic fibrosis (CF), today announced positive topline results from a Phase 1b clinical study evaluating N91115 that demonstrated favorable safety, tolerability and pharmacokinetics in adult CF patients with two copies of the F508del-CFTR mutation. N91115 is the Company’s novel stabilizer of the cystic fibrosis transmembrane conductance regulator (CFTR) protein.
In this randomized, double-blind, placebo-controlled, parallel group study, 51 adult CF patients were randomly assigned to receive placebo or N91115 at doses of 50, 100 or 200 mg administered twice daily for 28 days. The primary objective of the study was to evaluate the safety, tolerability and pharmacokinetic profile of N91115. Secondary objectives included the determination of doses for the Phase 2 clinical trial and the exploration of pharmacodynamic markers of biological activity. The safety of trial participants was monitored by an independent Data Monitoring Committee.
The trial demonstrated that N91115 was safe and well tolerated over the dose range studied. The pharmacokinetic profile of N91115 fully achieved the targeted blood levels and dose selection rationale. While not powered to demonstrate statistically significant clinical efficacy, there was a trend toward a modest reduction in sweat chloride at the highest dose studied that may suggest a threshold effect for CFTR modulation (placebo difference -5.2 mmol/L, 95% CI -11.7, 1.4, p = 0.11). Full results of the Phase 1b trial will be presented in an oral presentation and posters at the North American Cystic Fibrosis Conference (NACFC) being held October 8-10, 2015 in Phoenix, Arizona. Sponsored by the Cystic Fibrosis Foundation, the NACFC is the largest forum of its kind to advance research for the treatment and cure of CF.
“These data provide important insight about the safety, pharmacokinetics and pharmacodynamics of N91115,” said Scott H. Donaldson MD, principal investigator of the study and Associate Professor of Medicine at the University of North Carolina. “We are encouraged by the exploratory sweat chloride levels, a key measure of the function of the CFTR protein, observed in the 200 mg treatment group, which supports further study of the potential of N91115 as a CFTR modulator.”
Based upon this early signal of CFTR activity and the absence of dose limiting toxicities, 200 mg twice daily and a higher dose of N91115 are planned for the upcoming Phase 2 study. The presumed novel mechanism of action of N91115 S-nitrosoglutathione reductase (GSNOR) inhibition is distinct from other CFTR modulators and has been shown to improve the function of CFTR when added to correctors and potentiators in pre-clinical studies.
“These results represent a significant milestone in our efforts to further understand the clinical utility of N91115 in patients with the most common and complex form of cystic fibrosis,” said Jon Congleton, president and chief executive officer of Nivalis. “We look forward to initiating our Phase 2 study later this year evaluating the safety and efficacy of N91115 when added to Orkambi™.”
The Phase 2 study of N91115 added to Orkambi in people with CF who have two copies of the F508del mutation is subject to regulatory review and is planned to be initiated in the fourth quarter of 2015 with data available in the second half of 2016.
About Nivalis Therapeutics, Inc.
Nivalis Therapeutics, Inc. (http://www.nivalis.com) is a clinical stage pharmaceutical company committed to the discovery, development and commercialization of therapeutics for people with cystic fibrosis. In addition to developing innovative solutions intended to extend and improve the lives of people with cystic fibrosis, Nivalis plans to utilize its proprietary S-nitrosoglutathione reductase (GSNOR) inhibitor portfolio to develop therapeutics for other diseases.
About N91115
CF is a life-shortening genetic disease that affects an estimated 70,000 people worldwide, predominately in the United States and Europe. CF is characterized by a defect in the chloride channel of human cells known as the “cystic fibrosis transmembrane conductance regulator,” or CFTR, which is caused by mutations in the CFTR gene. N91115 works through a presumed novel mechanism of action called GSNOR inhibition to modulate the unstable and defective CFTR protein responsible for CF. GSNOR inhibition restores GSNO levels thereby modifying the chaperones responsible for CFTR protein degradation. This stabilizing effect increases and prolongs the function of the CFTR chloride channel and leads to an increase in net chloride secretion. Nivalis discovered and owns exclusive rights to N91115 in the United States and all other major markets, including U.S. composition of matter patent protection until at least 2031.
Nivalis Therapeutics has completed a Phase 1a dose-escalation safety study of orally administered N91115 in healthy volunteers, and a Phase 1b safety study in people with CF who have two copies of the F508del mutation. In pre-clinical studies, N91115 has been shown to increase the function of F508del-CFTR, the mutant protein that is estimated to be present in approximately 86 percent of people with CF in the United States and Europe.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Nivalis’ development plans and potential opportunities, the timing for initiating and completing the Phase 2 clinical trial, the timing for announcements of future clinical trial results and expectations that early stage clinical trials will result an approved drug. These forward-looking statements are based on management’s current expectations of future events and involve substantial risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by the forward-looking statements. These risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the risk that the timing of site initiation and patient enrollment for our clinical trials may take longer than expected, delays in the timing of regulatory filings and approvals, delays in the commercialization or availability of lumacaftor/ivacaftor, and other matters that could affect the completion of the clinical development and commercial potential of the company’s product candidates. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Nivalis’ business in general, see the risk factors contained in the company’s prospectus filed with the Securities and Exchange Commission on June 17, 2015, in the company’s most recent quarterly report on Form 10-Q and in its other reports filed with the Securities and Exchange Commission. All information in this press release is as of the date of this release, and Nivalis undertakes no duty to update or revise this information unless required by law.
Investor Relations John Graziano 1-646-378-2942 jgraziano@troutgroup.com Media Relations Lindsay Rocco 1-862-596-1304 lrocco@elixirhealthpr.com
(EVOK) Strengthens Financial Position
Provides Additional Support for Completion of Phase 3 Trial and Submission of New Drug Application (NDA)
SOLANA BEACH, Calif., Oct. 7, 2015 — Evoke Pharma, Inc. (NASDAQ:EVOK), a specialty pharmaceutical company focused on treatments for gastrointestinal (GI) diseases, today announced the amendment of its loan and security agreement with Square 1 Bank (the “credit facility”) to extend the interest-only payment term for an additional 12 months. Furthermore, through cash management and At-The-Market equity placements under its agreement with MLV & Co. LLC, Evoke had an estimated $10.7 million in cash as of September 30, 2015, an increase of $0.8 million from June 30, 2015. The Company now projects that its current cash resources should be sufficient to fund operations through October 2016.
Under the terms of the amended credit facility, the interest-only payment period has been extended by 12 months. As a result of the 24-month repayment period now initiating in November 2016, it will decrease the Company’s required debt payments by approximately $2.2 million for an additional year.
“In line with our corporate strategy, we have maintained a focus on prudent cash management. As a result, we have raised capital at opportunistic times and most recently, amended our debt facility to eliminate principal payments over the coming year. By taking these actions, we have provided the Company with additional capital resources to support our near-term objectives of completing our ongoing Phase 3 trial enrollment in the first half of 2016. In addition, we are initiating the preparation of our NDA for submission to the U.S. Food and Drug Administration,” said Matt D’Onofrio, Chief Business Officer. “With a strengthened balance sheet and primary focus on the development of EVK-001, we believe we can bring a much needed new treatment to market for women suffering from symptoms of gastroparesis.”
About Evoke Pharma, Inc.
Evoke is a specialty pharmaceutical company focused primarily on the development of drugs to treat GI disorders and diseases. The Company is developing EVK-001, a metoclopramide nasal spray for the relief of symptoms associated with acute and recurrent gastroparesis in women with diabetes mellitus. Diabetic gastroparesis is a GI disorder afflicting millions of sufferers worldwide, in which the stomach takes too long to empty its contents resulting in serious digestive system symptoms. Metoclopramide is the only product currently approved in the United States to treat gastroparesis, and is currently available only in oral and intravenous forms. EVK-001 is a novel formulation of this drug, designed to provide systemic delivery of metoclopramide through intranasal administration. Visit www.EvokePharma.com for more information.
Safe Harbor Statement
Evoke cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negatives of these terms or other similar expressions. These statements are based on the company’s current beliefs and expectations. These forward-looking statements include statements regarding: Evoke’s cash position and the sufficiency of its cash resources to fund operations through October 2016; the enrollment completion of Evoke’s ongoing Phase 3 clinical trial of EVK-001; the potential approval of EVK-001 as a new and effective treatment for gastroparesis; and Evoke’s anticipated submission of an NDA. The inclusion of forward-looking statements should not be regarded as a representation by Evoke that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Evoke’s business, including, without limitation: potential changes in estimated cash based on the completion of financial closing procedures and release of complete third quarter 2015 results; Evoke may spend its available cash faster than it anticipates; the inherent risks of clinical development of EVK-001, including continued delays in enrollment and completion of the Phase 3 trial as well as potential delays in any other clinical trials and studies; Evoke is entirely dependent on the success of EVK-001, for which it has commenced a Phase 3 clinical trial and male companion trial, and Evoke cannot be certain that it will be able to obtain regulatory approval for, or successfully commercialize, EVK-001; the results observed in female patients with symptoms associated with acute and recurrent diabetic gastroparesis in Evoke’s Phase 2b clinical trial of EVK-001 may not be predictive of the safety and efficacy results in the Phase 3 clinical trial; Evoke will require substantial additional funding to complete the Phase 3 clinical trial and potentially commercialize EVK-001 as well as to finance additional development requirements, and may be unable to raise capital when needed, including to fund ongoing operations; the potential for adverse safety findings relating to EVK-001 to delay or prevent regulatory approval or commercialization; and other risks detailed in Evoke’s prior press releases and in the periodic reports it files with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Evoke undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
CONTACT: Investor Contact: The Ruth Group David Burke Tel: 646-536-7009 dburke@theruthgroup.com Media Contact: The Ruth Group Kirsten Thomas Tel: 646-536-7014 kthomas@theruthgroup.com
(LBIO) Exclusive License From NIH to Develop, Commercialize TIL in HPV-Associated Cancers
NEW YORK, Oct. 7, 2015 — Lion Biotechnologies (Nasdaq:LBIO), a biotechnology company that is developing novel cancer immunotherapies based on tumor-infiltrating lymphocytes (TIL), today announced that it has obtained an exclusive, worldwide license from the National Institutes of Health (NIH) to develop and commercialize TIL therapy in four additional tumor indications. Under the agreement, the NIH has granted Lion exclusive rights to certain patents to develop TIL in the treatment of bladder, lung, breast and HPV-associated cancers, including cervical and head and neck.
The agreement was executed as an amendment to Lion’s existing exclusive licensing agreement with the NIH for the development and commercialization of TIL in the treatment of metastatic melanoma. As consideration for the license, Lion will make an upfront payment to the NIH, payable half within 60 days of closing and the balance a year later. Additional milestone payments, which will vary according to indication, will be based on completion of specific clinical, regulatory and commercial milestones. The agreement also calls for royalties to be payable to the NIH based on revenues, and certain additional payments under different sublicense scenarios.
“In addition to the efficacy previously reported in melanoma, we believe that TIL therapy has the potential to demonstrate significant clinical benefit in the treatment of many solid tumors,” said Elma Hawkins, PhD, Lion’s president and chief executive officer. “Having exclusivity in these additional indications will enable us to further our development efforts in other tumor types, with the goal of providing a new treatment option for patients.”
About Lion Biotechnologies
Lion Biotechnologies, Inc. is a clinical-stage biotechnology company focused on the development of cancer immunotherapy products for the treatment of various cancers. The company’s lead product candidate is an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL) for the treatment of patients with refractory metastatic melanoma, and is based on a clinical Cooperative Research and Development Agreement with the National Cancer Institute. TIL therapy is also being evaluated in physician-sponsored clinical trials at MD Anderson Cancer Center and Moffitt Cancer Center. For more information, please visit http://www.lionbio.com.
Forward Looking Statements
This press release contains certain forward-looking statements that are subject to a number of risks and uncertainties described in the Company’s most recently filed quarterly report on Form 10-Q and annual report on Form 10-K. Except as permitted by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Investor Relations The Trout Group Elizabeth Broder 646-378-2945 Ebroder@troutgroup.com
(VDSI) Enters Agreement to Acquire Electronic Signature Leader Silanis
Acquisition Will Expand VASCO’s Product Offering Adding Broad-Based Signature Capabilities for Digitized Business Transactions, a Rapidly Growing Market with Rising Demand Among VASCO Customers
OAKBROOK TERRACE, Ill. and MONTREAL, Oct. 6, 2015 — VASCO Data Security International, Inc. (NASDAQ: VDSI), a global leader in authentication, electronic signatures, and identity management, announced today the execution of a definitive agreement to acquire privately held Silanis Technology, Inc. (Silanis), a leading provider of electronic signature (e-signature) and digital transaction solutions used to sign, send and manage documents. Silanis’ e-SignLive™ platform is trusted by some of the largest banks, insurers and government agencies. The acquisition demonstrates VASCO’s strong commitment to its vision of delivering new solutions that are in high demand within its financial services customer base, accelerating its transition to a recurring revenue model, strengthening its revenue base in North America, and expanding its customer base outside of its core banking business.
VASCO anticipates significant revenue synergies from the acquisition. Both VASCO and Silanis are focused on addressing the business needs of organizations conducting secure transactions that must meet strict regulatory and compliance requirements. VASCO has identified demand for digital transaction solutions among its customer base and, following the closing of the transaction, can immediately start selling Silanis solutions to its global banking customers. The banking segment is Silanis’ number one vertical.
“In Silanis, we have found a company with incredible technology and solutions that have emerging demand among our vast customer base,” stated T. Kendall Hunt, Chairman and CEO of VASCO. “Silanis’ offering is consistent with our focus on authentication and fraud prevention. We see the potential to accelerate growth in a rapidly expanding new market while still maintaining our commitment to our core offering. Given that Silanis focuses on generating recurring revenue through a Software-as-a-Service model, we expect that it will be a significant factor in helping VASCO grow its operating income, both on an absolute basis as well as a percentage of revenue.”
Silanis, based in Montreal, Canada, utilizes a SaaS and on-premise subscription model for its customers who are located primarily in North America. Silanis expects to report revenues, determined under Canadian Generally Accepted Accounting Principles, of approximately USD $16 million for the full-year 2015, an increase of approximately 30% over full-year 2014. Based on bookings of new business through the third quarter of 2015, which were up more than 200% over the comparable period in 2014, Silanis is projecting that its revenues for 2016, on a standalone basis, will increase more than 25% over 2015.
Craig Le Clair, Principal Analyst at Forrester Research, reports a 53% average annual growth in the use of e-signatures since 2012 with the number of transactions settled using e-signatures topping 210 million and likely to reach more than 700 million in 2017. “A recent directive passed by the European Parliament and the Council of the European Union promises to solidify and promote e-signature adoption across the region,(1)” reported Mr. Le Clair. “Mobile transactions will push e-signature authentication to the device, with Europe leading the way in innovation. (2)” VASCO believes that its strength in mobile security combined with the ability to complete a legally enforceable transaction with e-signatures will provide organizations a pathway to increase the number of transactions completed on mobile devices.
e-SignLive, Silanis’ e-signature solution, delivers distinct advantages over competing solutions including the following:
- The ability to completely white-label the e-signature process for a seamless and branded experience to ensure the highest adoption rates.
- The most complete audit trails in the market, providing organizations with direct visibility into how and when the digital transaction took place.
- A unified platform that supports cloud, on-premise, and hybrid deployment options.
- Data centers around the globe that will help customers meet regulatory and in-country data residency requirements.
- Enterprise-grade solutions that can be easily deployed across an organization’s internal, business-to-business and customer-facing applications.
“By combining the strengths of both companies, we have created an opportunity to significantly enhance our ability to address rising global market demand for Silanis’ solutions. The demand for our solutions is driven by their strong ROI and end customers’ expectations to complete business transactions digitally,” stated Tommy Petrogiannis, CEO & Co-Founder of Silanis. “By taking advantage of our recently announced global data centers, we can accelerate revenue growth by reducing the time required to implement solutions for banks and other regulated organizations outside of North America that require compliant signing solutions.”
Financial Terms of the Transaction
Under the terms of the definitive agreement, VASCO will acquire all of the outstanding equity of Silanis for a cash consideration of $85 million, subject to customary closing conditions. The acquisition will be financed from VASCO’s existing cash balances. The acquisition is expected to be dilutive in 2016, on a GAAP and non-GAAP basis, which would exclude the amortization of purchased intangible assets. The acquisition is expected to be accretive in 2017 on a non-GAAP basis. Subject to a closing blackout period from December 1 through December 31, 2015, VASCO and Silanis will use commercially reasonable efforts to cause the closing to occur as soon as practicable, but in any event by January 31, 2016 or such other date as the Parties may agree to in writing.
Webcast and conference call information
On Tuesday, October 6, 2015 at 5:00 PM EDT/23:00 CEST, VASCO will host a conference call to discuss the transaction. A live webcast of the conference call will be available via the VASCO Investor Relations website at: www.vasco.com/investors
Dial-in telephone numbers for the conference call are:
- Dial-in U.S.: 800-954-0622
- Dial-in international: + 1- 212-231-2908
Mr. T. Kendall Hunt, Chairman and CEO of VASCO, Mr. Tommy Petrogiannis, CEO and Co-Founder of Silanis and Mr. Cliff Bown, Executive Vice President and CFO of VASCO, will be available to answer analyst and investor questions.
Financial Advisors
BMO Capital Markets acted as exclusive financial advisor to VASCO and Arma Partners acted as exclusive financial advisor to Silanis.
About VASCO
VASCO is a world leader in providing two-factor authentication and digital signature solutions to financial institutions. Many of the top 100 global banks rely on VASCO solutions to enhance security, protect mobile applications and meet regulatory requirements. VASCO also secures access to data and applications in enterprise environments, and provides tools for application developers to easily integrate security functions into their web-based and mobile applications. VASCO enables more than 10,000 customers in 100 countries to secure access, manage identities, verify transactions, and protect assets across financial, enterprise, E-commerce, government and healthcare markets. Learn more about VASCO at VASCO.com and on Twitter, LinkedIn and Facebook.
About Silanis Technology
Businesses choose e-SignLive™ by Silanis when electronic signatures matter. e-SignLive is one of the most widely used e-signature solutions in the world and ranked as a leader by analyst firms. Organizations of all sizes, including top banks, insurers, credit providers, pharmaceutical companies and government agencies, trust e-SignLive to support and digitize their core business processes through innovations in digital transactions, mobile technology, audit trails and customer transaction analytics. Built on a single SaaS platform that can be delivered in the cloud or on-premises, e-SignLive offers the best customer experience while providing strong legal protection and regulatory compliance. Learn more at www.silanis.com
Forward Looking Statements:
This press release contains forward-looking statements (including forward-looking statements relating to VASCO’s pending acquisition of Silanis Technology) within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. These forward-looking statements (1) are identified by use of terms and phrases such as “expect”, “believe”, “will”, “anticipate”, “emerging”, “intend”, “plan”, “could”, “may”, “estimate”, “should”, “objective”, “goal”, “possible”, “potential”, “project” and similar words and expressions, but such words and phrases are not the exclusive means of identifying them, and (2) are subject to risks and uncertainties and represent our present expectations or beliefs concerning future events. VASCO cautions that the forward-looking statements are qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These risks, uncertainties and other factors include the risk that VASCO’s acquisition of Silanis Technology is not completed on a timely basis or at all; VASCO’s ability to integrate Silanis into the business of VASCO successfully and the amount of time and expense spent and incurred in connection with the integration; the risk that the revenue synergies, cost savings and other economic benefits that VASCO anticipates as a result of the acquisition are not fully realized or take longer to realize than expected; and the risks, uncertainties and other factors that have been described in our Annual Report on Form 10-K for the year ended December 31, 2014, which include, but are not limited to, (a) risks of general market conditions, including currency fluctuations and the uncertainties resulting from turmoil in world economic and financial markets, (b) risks inherent to the computer and network security industry, including rapidly changing technology, evolving industry standards, increasingly sophisticated hacking attempts, increasing numbers of patent infringement claims, changes in customer requirements, price competitive bidding, and changing government regulations, and (c) risks specific to VASCO, including, demand for our products and services, competition from more established firms and others, pressures on price levels and our historical dependence on relatively few products, certain suppliers and certain key customers. Thus, the results that we actually achieve may differ materially from any anticipated results included in, or implied by these statements. Except for our ongoing obligations to disclose material information as required by the U.S. federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.
This document may contain trademarks of VASCO Data Security International, Inc. and its subsidiaries, and trademarks of Silanis, Inc.
(1) Brief: E-Signature Transactions Topped 210 Million In 2014, May 2015, Forrester Research
(2) Brief: Four Predictions For European E-Signature Adoption, April 2015, Forrester Research
VASCO Data Security Contact:
John Gunn
+1-847-370-1486
john.gunn@vasco.com
OurPet’s Company (OPCO)
Mission Statement: To build on award-winning market position, strong distribution network, and growing intellectual property portfolio to become the premier provider of innovative, trend-setting pet products and accessories.
OurPet’s Company develops, produces and markets various pet accessory and consumable products designed to awaken pets’ natural instincts, be it in feeding, playing or waste management. Sold globally through pet specialty retailers, food, drug and mass chains, e-commerce and international channels, the company’s products are marketed under a the OurPets®, Pet Zone® and PetTastic® brands with well-known sub-brands such as Play-N-Squeak™, Cosmic Catnip™, Durapet, SmartScoop and Flappy. In total, OurPet’s has an intellectual property portfolio featuring more than 160 individual patents, giving the company sustainable access to the pet products industry for the foreseeable future.
In recent years, the U.S. pet products and services market has experienced strong growth, with total sales accounting for approximately $73 billion in 2014, according to a report by Packaged Facts. In 2015, this strong performance is expected to continue, building on the recent rise in related ecommerce purchases, as well as an uptick in dog and cat ownership throughout the country. In order to capitalize on this market performance, OurPet’s maintains an ongoing new product development program to continually keep an evolutionary and revolutionary new product pipeline feeding its offerings. In July 2015, OurPet’s introduced many new products at the national Super Zoo trade show in Las Vegas such as the Catty Whack®, Designer Diner™/Barking Bistro™ and the Zoom Plume™.
The company’s capitalization strategy is guided by a management team of experienced industry professionals dedicated to further strengthening its product portfolio through aggressive development of innovative products. Management has a proven track-record of leveraging deep knowledge in the innovation, technology, distribution and pet markets to successfully push through adverse market conditions to achieve increases in revenue, margins and net income.
OurPet’s, through its innovative and extensive line of popular pet products, is in a favorable strategic position to continue building upon its recent market growth. For prospective shareholders, this positioning makes the company an intriguing investment opportunity in the months to come. Look for OurPet’s to capitalize on steady market performance moving forward, providing an opportunity for the company to realize strong investor returns in the future.
Key Investment Highlights
- Capitalizing on the rapidly growing $73 billion U.S. pet products and services market that appears to be recession resistant
- Strong management team with clear strategy to capitalize on market performance
- Award-winning products backed by deep portfolio of more than 160 patents
- Available at leading pet specialty retailers, mass merchandisers, online, international and more
Latitude 360, Inc. (LATX)
Latitude 360, Inc. (LATX) is an award-winning pioneer of a dining and entertainment venues that combine premier upscale casual dining with numerous state-of-the-art entertainment choices. The company develops, constructs and operates cutting-edge Latitude 360 venues ranging from 35,000-85,000 sq. ft., packed full of eating and entertainment options that appeal to a broad base of guests, private events and corporate clients.
Through its three current award-winning locations in Jacksonville, Florida, Pittsburgh, Pennsylvania, and Indianapolis, Indiana, Latitude 360 employs roughly 500 talented individuals working to deliver the brand’s unique “360 EXPERIENCE” which fuses the magic of exceptional food and beverage with multiple entertainment options in upscale, contemporary-designed venues. Key offerings at each 360 location include Las Vegas-style live performance showroom, a feature bar featuring the area’s top musicians and/or DJs, luxury bowling, dine-in movies, high-definition sports theatre, game arcade and luxury cigar lounge and many choices of private meeting space.
In 2014 Latitude 360 launched the first-of-its-kind monthly club membership program which provides guests with a cache of monthly entertainment assets at a value price as well as exclusive access to a 360 Club Concierge service – all for a monthly fee. The program has quickly grown to more than 5,000 monthly paying members.
Latitude 360 recently expanded its entertainment offerings when it acquired Major League Fantasy (MLF), a leader in the daily fantasy sports industry. By implementing “360 Fantasy Live” into is existing locations, Latitude 360 is making a strong entrance into a rapidly growing market expected to reach $6 billion-$10 billion by year-end 2016. The acquisition of MLF allows Latitude 360 to position itself as one of the first live, multimedia venues to offer in-house, high-stakes, competitive daily fantasy events.
Led by an experienced and visionary management team, Latitude 360 is focused on further expanding its brick and mortar locations and anticipates opening additional 360 venues overseas and domestically in major cities like New York, Boston, Atlantic City and Chicago.
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