Archive for January, 2015

(TINY) Portfolio Company D-Wave Systems Raises an Additional $29 Million

NEW YORK, Jan. 30, 2015  — Harris & Harris Group, Inc. (Nasdaq:TINY), an investor in transformative companies enabled by disruptive science, notes the announcement by portfolio company, D-Wave Systems, Inc., that it has closed $29 million (CAD) in funding from a large institutional investor, among others. This funding will be used to accelerate development of D-Wave’s quantum hardware and software and expand the software application ecosystem. This investment brings total funding in D-Wave to $174 million (CAD), with approximately $62 million (CAD) raised in 2014. Harris & Harris Group’s total investment in D-Wave is approximately $5.8 million (USD). D-Wave’s announcement also includes highlights of 2014, a year of strong growth and advancement for D-Wave.

“We are continuously impressed by D-Wave’s ability to execute and deliver on its aggressive technology innovation roadmap,” said Alexei Andreev, a managing director of Harris & Harris Group. “With its next 1000 qubit system coming online, we are approaching a regime where quantum computers will be able to out-perform conventional solutions despite tens of years and trillions of dollars invested in digital machines to date.”

“The additional funding comes as a result of D-Wave’s continued progress and leadership in quantum computing,” said Doug Jamison, CEO of Harris & Harris Group. “We agree with Vern Brownell and D-Wave that by making quantum computing available to more organizations, D-Wave is toward its goal of finding solutions to the most complex optimization and machine learning applications.”

D-Wave’s press release may be viewed on the company’s website. The press release also contains highlights for D-Wave from 2014.

In a recent blog post, titled “Getting in on the Ground Floor: Investing in Quantum Computing,” Mr. Andreev, who is a member of D-Wave’s board of directors, wrote about the value of investing in D-Wave and quantum computing.

About Harris & Harris Group

Harris & Harris Group is a publicly traded venture capital firm that is also a business development company. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com, on Facebook at www.facebook.com/harrisharrisvc and by following on Twitter @harrisandharrisgroup.

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company’s current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company’s business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company’s actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com, www.dwavesys.com and www.Facebook.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.

CONTACT: Press contact
         Jessica Attanasio
         Associate Vice President
         Gregory FCA
         Jessica@GregoryFCA.com
         610-228-2112
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(SYRX) Announces Management Change

Sysorex (NASDAQ:SYRX) (the “Company”), a global technology leader specializing in big data analytics and location-based mobile solutions for the private and public sectors, today announced a management change.

The Company has appointed Wendy Loundermon as its interim Chief Financial Officer. Ms. Loundermon replaces Will Frederick, who has resigned to pursue other interests, and management has begun the search for a permanent successor.

“We thank Will for his contributions during his time with the Company and wish him well,” said Nadir Ali, CEO of Sysorex.

Ms. Loundermon, age 44, comes to the position with over 20 years of financial experience. Ms. Loundermon joined the Company in 2002 and had been the CFO until October 2014. Prior to her re-appointment as Chief Financial Officer, Ms. Loundermon was serving as the Company’s Vice President of Finance and Secretary and continues to serve as President, Chief Financial Officer and Secretary of its Sysorex Government Services subsidiary. Ms. Loundermon is a CPA, and holds a Masters in Taxation and a B.S. in Accounting from George Mason University.

“Wendy is a veteran on our team since joining the Company in 2002 and was instrumental in our 2014 IPO on NASDAQ. Her previous Sysorex experience also includes our rapid expansion during 2011 through 2014, and I am confident that she will help us move through the next phase in our business,” continued Mr. Ali.

About Sysorex Global Holdings Corp.

Through focused, custom technology solutions, Sysorex (NASDAQ:SYRX) provides cyber security, data analytics, custom application development, cloud solutions, Mobile/BYOD solutions and strategic outsourcing to government and commercial clients in major industries around the world. From identifying security risks to helping clients realize value from their big data strategies, Sysorex has the experience, technology, partners, and agility to be your trusted IT partner. Visit www.sysorex.com, follow @Sysorex and Like us on Facebook.

Sysorex Investor Relations:
CorProminence LLC
Scott Arnold, +1-516-222-2560
Managing Director
www.corprominence.com

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(PFMT) Announces Withdrawal of Public Offerings

LIVERMORE, Calif., Jan. 30, 2015  — Performant Financial Corporation (Nasdaq:PFMT) (“Performant”) announced today that it has decided to withdraw its proposed public offerings of convertible senior notes and common stock. Proceeds of the financings were intended to fund the purchase price for the acquisition of Premier Healthcare Exchange, Inc. (PHX).

Performant Chief Executive Officer Lisa Im stated, “We continue to believe that Premiere Healthcare Exchange is an exceptional company, the acquisition has very compelling merits, and fits within our strategy of growing in healthcare technology. However, we are not going forward with the previously announced capital raise at levels that are not in the best interests of our stockholders.”

About Performant Financial Corporation

Performant helps government and commercial organizations enhance revenue and contain costs by preventing, identifying and recovering waste, improper payments and defaulted assets. Performant is a leading provider of these services in several industries, including healthcare, student loans and government. Powered by their proprietary analytic platform and proprietary workflow technology, Performant also provides professional services related to the recovery effort, including reporting capabilities, support services, customer care and stakeholder training programs meant to mitigate future instances of improper payments. Founded in 1976, Performant is headquartered in Livermore, California.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, that Performant’s agreements with CMS and the Department of Education, two of its largest customers, are currently subject to rebidding processes, that transition rules have significantly limited Performant’s activity under the existing RAC contract, the high level of revenue concentration among Performant’s five largest customers, that many of Performant’s customer contracts are subject to periodic renewal, are not exclusive and do not provide for committed business volumes, that Performant faces significant competition in all of its markets, that the U.S. federal government accounts for a significant portion of Performant’s revenues, that future legislative and regulatory changes may have significant effects on Performant’s business, failure of Performant’s or third parties’ operating systems and technology infrastructure could disrupt the operation of Performant’s business and the threat of breach of Performant’s security measures or failure or unauthorized access to confidential data that Performant possesses.. More information on potential factors that could affect Performant’s financial condition and operating results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of its annual report on Form 10-K for the year ended December 31, 2013, its quarterly report on Form 10-Q for the three months ended September 30, 2014 and other documents and reports subsequently filed by Performant with the Securities and Exchange Commission. The forward-looking statements are made as of the date of this press release and Performant does not undertake to update any forward-looking statements to conform these statements to actual results or revised expectations.

CONTACT: Richard Zubek
         Investor Relations
         925-960-4988
         investors@performantcorp.com
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(AINC) Prices Offering of 9.5 Million Shares of Common Stock

DALLAS, Jan. 30, 2015  — Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today announced that it has priced its follow-on public offering of 9,500,000 shares of common stock at $10.65 per share.  The Company has granted the underwriter of the offering a 30-day option to purchase up to an additional 1,425,000 shares of common stock.  Settlement of the offering is expected to occur on February 4, 2015.

Ashford Trust intends to use the net proceeds of the offering to fund a portion of the cost of its pending acquisitions of the Memphis Marriott East hotel, the Lakeway Resort & Spa and its joint venture partner’s interest in PIM Highland JV and, any remaining funds, for general corporate purposes, including, without limitation, hotel-related investments, capital expenditures, working capital, and repayment of debt or other obligations.

Robert W. Baird & Co. Incorporated served as sole underwriter for the offering.

A registration statement relating to the shares is effective with the Securities and Exchange Commission.  This press release does not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor will there be any sale of such shares or any other securities in any state or other jurisdiction which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

The offering is being made only by means of a prospectus supplement and the related base prospectus, which have been filed with the Securities and Exchange Commission.  Copies of the preliminary prospectus supplement, final prospectus supplement (when available) and the related base prospectus may be obtained from Robert W. Baird & Co. Incorporated, Attn: Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202, Telephone: (800) 792-2473, Email: syndicate@rwbaird.com, or on the internet site of the Securities and Exchange Commission at www.sec.gov.

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing opportunistically in the hospitality industry across all segments and at all levels of the capital structure primarily within the United States.

Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are subject to risks and uncertainties.  When we use the words “will likely result,” “may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements.  Such forward-looking statements include, but are not limited to, statements about the terms and size of the offering and the use of proceeds from the offering.  Such statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford Trust’s control.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation:  general volatility of the capital markets and the market price of our common stock; changes in our business or investment strategy; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the market in which we operate, interest rates or the general economy; and the degree and nature of our competition.  These and other risk factors are more fully discussed in Ashford Trust’s filings with the Securities and Exchange Commission.

The forward-looking statements included in this press release are only made as of the date of this press release.  Investors should not place undue reliance on these forward-looking statements.  We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise.

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(CTP) Executive Search Announces Pricing of Underwritten Offering

CTPartners Executive Search Inc. (the “Company”) (NYSE MKT:CTP) today announced that it has priced a $5.0 million registered underwritten offering of its common stock at a price of $3.00 per share to one institutional investor. The offering is expected to close on February 4, 2015, subject to the satisfaction of customary closing conditions.

Craig-Hallum Capital Group is acting as sole managing underwriter for the offering.

The offering of these shares will be made only by means of a prospectus. Copies of the prospectus supplement and accompanying prospectus related to the offering, when available, may be obtained by contacting: Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, phone number (612) 334-6300. The documents may also be obtained for free from the SEC’s EDGAR database available online at www.sec.gov.

A registration statement relating to these shares was filed with the Securities and Exchange Commission on August 5, 2014 and has become effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these shares in any state in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any state.

About CTPartners Executive Search Inc.

CTPartners is a global executive search firm that is designed to deliver in-depth expertise, creative strategies, and outstanding results to clients worldwide. From its 44 offices in 24 countries, CTPartners serves clients with a global organization of more than 500 professionals and employees, offering expertise in board advisory services, key leadership functions, and executive recruiting services in the financial services, life sciences, industrial, professional services, retail and consumer, and technology, media and telecom industries.

Safe Harbor Statement

The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements. As a general matter, forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be identified by the use of forward looking terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words, but the absence of these words does not necessarily mean that a statement is not forward-looking. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for the disclosure of forward-looking statements.

The forward looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. You should, however, review the factors and risks we describe in the reports we will file from time to time with the Securities and Exchange Commission.

EVC Group, Inc.
Investor Relations
Bob Jones, 646-201-5447
bjones@evcgroup.com
Chris Dailey, 646-445-4801
cdailey@evcgroup.com
or
CTPartners
Jennifer Silver, 1-877-439-9229
1 International Place
32nd Floor
Boston, MA 02110
IR@Ctnet.com

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(GURE) Announced Finding of Natural Gas Resources Under Its Bromine Well in Sichuan Area

SHOUGUANG, China, Jan. 30, 2015 — Gulf Resources, Inc. (Nasdaq:GURE) (“Gulf Resources” or the “Company” or “GURE”), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that the company has found natural gas resources under its bromine well in Sichuan area.

In 2014, the Chinese National Petroleum Corporation (CNCPC), (listed symbol PTR) discovered 440.4 billion cubic meters of proven geological natural gas reserves of which 308.2 billion cubic meters is “technically recoverable” in Moxi block of An’yue field Sichuan Province. This area is very near to the region where Gulf Resources is exploring for bromine.

GURE’s technical staff believed there might be natural gas under the company’s bromine well due to the similar geological structure with Moxi block. In September 2014, GURE’s team started deeper drilling exploration under its existing well and did exploration analysis on the resources from different levels. Recently, GURE’s team discovered natural gas resources under its existing well. Because the discovery was under its existing well, the drilling costs have not been excessive.

Gulf Resources’ CEO, Xiaobin Liu stated, “We are very excited and pleasantly surprised to have found natural gas under our existing well. We will hire a third party to conduct a survey of the geological structure and complexity analysis and the economics of the natural gas under this well. However, given the success of the Chinese National Petroleum Corporation in the same region, we are optimistic about this opportunity.”

China continues to have a shortage of both natural gas and oil. While world prices have come down, prices in China have remained on a stable increase trend and China is still a large importer of natural gas. In 2014, the price for stock natural gas station for non-residential use increased approximately RMB0.4 ($0.06) per cubic meter. During the first three quarters of 2014, imports of natural gas increased approximately 9.3%. It is predicted that the price might increase approximately another RMB0.4 ($0.06) per cubic meter in 2015 for stock natural gas.

“Gulf does not know,” Mr. Liu added, “if this project will be commercially viable. Neither has it decided whether it will develop these fields by itself or seek to partner with a company specializing in this industry until after the assessment report from third party has been completed.”

“Nonetheless,” Mr. Liu concluded, “We are very excited about this new finding. The discovery of natural gas in our drilling area might bring Gulf into a business segment with exceptional opportunities in terms of both sales and profits.”

About Gulf Resources, Inc.

Gulf Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited (“SCHC”) and Shouguang Yuxin Chemical Industry Co., Limited (“SYCI”). The company believes that it is one of the largest producers of bromine in China. Elemental Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. Through SYCI, the company manufactures chemical products utilized in a variety of applications, including oil and gas field explorations and papermaking chemical agents. For more information, visit www.gulfresourcesinc.com.

Forward-Looking Statements

Certain statements in this news release contain forward-looking information about Gulf Resources and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the PRC, future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, the ability to make future bromine asset purchases, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the company’s reports filed with the Securities and Exchange Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

CONTACT: Gulf Resources, Inc.
         Web: http://www.gulfresourcesinc.com

         Director of Investor Relations
         Helen Xu
         Beishengrong@vip.163.com

         IR Manager
         Max Ma
         Max_vx@163.com
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(OMER) Prices $75 Million Public Offering of Common Stock and Pre-Funded Warrants

SEATTLE, Jan. 29, 2015  –Omeros Corporation (NASDAQ: OMER) today announced that it has priced an underwritten public offering of 2,995,506 shares of its common stock at a per share price to the public equal to $20.03, and pre-funded warrants to purchase up to 749,250 shares of its common stock, at a per warrant price to the public equal to $20.02.  The pre-funded warrants have a term of seven years and an exercise price of $0.01 per share. Total gross proceeds, including the approximately $15 million to be received on the pre-funded warrants, will be approximately $75 million. The net proceeds from this offering, after deducting the underwriters’ discounts and other estimated offering expenses, will be approximately $70.6 million. Omeros has also granted the underwriters a 30-day option to purchase up to an additional 449,325 shares of common stock to cover overallotments, if any, which would result in additional gross proceeds of approximately $9 million if exercised in full.  The offering is expected to close on or about February 3, 2015, subject to customary closing conditions.

Omeros intends to use the net proceeds of the offering for general corporate purposes, including expenses related to the commercialization of Omidria™, research and development expenses, such as funding clinical trials, preclinical studies, manufacturing development and costs associated with otherwise advancing the company’s drug candidates toward New Drug Application submission. Omeros may also use the net proceeds for working capital, the repayment of debt obligations, acquisitions or investments in businesses, products or technologies that are complementary to its own, and other capital expenditures.

Cowen and Company, LLC acted as the sole book-running manager for the offering.

Wedbush PacGrow Life Sciences acted as co-lead manager. Needham & Company, LLC, WBB Securities LLC, Maxim Group LLC and MLV & Co. LLC acted as co-managers.

A registration statement on Form S-3 relating to these securities was filed with the Securities and Exchange Commission and was automatically effective. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement related to the offering was filed with the Securities and Exchange Commission on January 28, 2015. An electronic copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering is available on the website of the Securities and Exchange Commission at www.sec.gov.  Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Cowen and Company, LLC (c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone: 631-274-2806, Fax: 631-254-7140).

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Omeros, and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Omeros Corporation

Omeros is a biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics for large-market as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system.

Forward-looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the “safe harbor” created by those sections for such statements.   All statements other than statements of historical facts are forward-looking statements. Terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” and similar expressions and variations thereof are intended to identify forward-looking statements, but these terms are not the exclusive means of identifying such statements.  Forward-looking statements are based on management’s beliefs and assumptions and on information available to management only as of the date of this press release. Omeros’ actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, risks associated with Omeros’ ability to begin U.S. commercial sales of Omidria (OMS302) in early 2015, Omeros’ ability to obtain regulatory approval for its Marketing Authorization Application in the EU for the commercialization of Omidria, Omeros’ unproven preclinical and clinical development activities, regulatory oversight, product commercialization, intellectual property claims, competitive developments, litigation, and the risks, uncertainties and other factors described under the heading “Risk Factors” in the company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 10, 2014.  Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the company assumes no obligation to update these forward-looking statements, even if new information becomes available in the future.

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(CRMD) Lead Product Candidate in the U.S., Neutrolin(R), Granted FDA QIDP Designation

CorMedix is Developing Neutrolin for the Prevention of Catheter Related Bloodstream Infections and Maintenance of Catheter Patency in Hemodialysis, Oncology and Intensive Care

BRIDGEWATER, N.J., Jan. 29, 2015  — CorMedix Inc. (NYSE MKT: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of cardiac, renal and infectious diseases, today announced that the U.S. Food and Drug Administration (FDA) has designated the company’s lead product candidate, Neutrolin® Catheter Lock Solution, as a Qualified Infectious Disease Product (QIDP) for oncology, hemodialysis and intensive care unit patients, where catheter-related blood stream infections and clotting can be life-threatening.

The QIDP designation will make Neutrolin eligible to benefit from certain incentives as provided under the Generating Antibiotic Incentives Now (GAIN) program. These incentives include FDA priority review, eligibility for fast-track status and, if ultimately approved by the FDA, Neutrolin would be eligible for an additional five-year extension of Hatch-Waxman patent exclusivity.

Neutrolin is a novel formulation of taurolidine, citrate and heparin 1000 u/ml that provides a combination preventative solution, decreases the triple threat of infection, thrombosis and biofilm to keep catheters operating safely and efficiently by optimizing catheter blood flow while minimizing infections and biofilm formation.  Neutrolin has CE mark approval for use in the European Union and was recently approved to enter a planned Phase 3 program in the United States.

“CorMedix is delighted that the FDA has given Neutrolin a QIDP designation further affirming the importance of addressing the serious medical need related to catheter infections,” said Randy Milby, CorMedix Chief Executive Officer. “The QIDP designation, combined with the recently achieved Fast Track designation, will strongly support our goal to bring Neutrolin® to the U.S. market as fast as possible.”

In order to achieve QIDP designation, a drug product must be intended to treat serious or life-threatening infections, particularly those infections caused by “qualified pathogens,” as determined by the FDA.  These pathogens include Staphylococcus aureus, Streptococcus species and Pseudomonas species, among others.  Neutrolin has shown antimicrobial activity against many of these qualified pathogens, several of which are known to pose a serious threat to the public health by causing blood-stream infections in hemodialysis, oncology, and intensive care patients.

Neutrolin’s QIDP status follows its receipt of Fast Track designation, granted earlier this month.  Neutrolin’s Fast Track designation provides CorMedix with the opportunity to meet with the FDA on a more frequent basis during the review process, and provides eligibility for priority review of the marketing application.

About CorMedix Inc.

CorMedix Inc. is a commercial-stage pharmaceutical company that seeks to in-license, develop and commercialize therapeutic products for the prevention and treatment of cardiac, renal and infectious diseases. CorMedix’s first commercial product in Europe is Neutrolin®, a catheter lock solution for the prevention of catheter related bloodstream infections and maintenance of catheter patency in tunneled, cuffed, central venous catheters used for vascular access in hemodialysis patients, in addition to oncology patients, critical care patients including neonates, and patients receiving total parenteral nutrition, IV hydration, and/or IV medications.  Please see the company’s website at www.cormedix.com for additional information. Plans are in progress to expand commercial distribution into the United States, Asia, the Middle East, South America and Africa upon appropriate regulatory approval.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management’s expectations, beliefs, goals, plans or CorMedix’s prospects, future financial position, future revenues and projected costs should be considered forward-looking. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, including: the cost, timing and results of  the planned Phase 3 trial for Neutrolin in the U.S.; obtaining regulatory approvals to conduct clinical trials and to commercialize CorMedix’s product candidates, including marketing of Neutrolin® in countries other than Europe; the risks associated with the launch of Neutrolin® in new  markets; CorMedix’s ability to enter into, execute upon and maintain collaborations with third parties for its development and marketing programs; CorMedix’s ability to maintain its listing on the NYSE MKT; the risks and uncertainties associated with CorMedix’s ability to manage its limited cash resources; the outcome of clinical trials of CorMedix’s product candidates and whether they demonstrate these candidates’ safety and effectiveness; CorMedix’s dependence on its collaborations and its license relationships; achieving milestones under CorMedix’s collaborations; obtaining additional financing to support CorMedix’s research and development and clinical activities and operations; CorMedix’s dependence on preclinical and clinical investigators, preclinical and clinical research organizations, manufacturers, sales and marketing organizations, and consultants; and protecting the intellectual property developed by or licensed to CorMedix. These and other risks are described in greater detail in CorMedix’s filings with the SEC, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from CorMedix. CorMedix may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. CorMedix assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

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(NVCN) Increases Size And Prices Offering Of Common Shares

NASDAQ: NVCN
TSX: NVC

VANCOUVER, Jan. 29, 2015 – Neovasc Inc. (“Neovasc” or the “Company“) (NASDAQ: NVCN) (TSX: NVC) is pleased to announce that due to market interest, it has increased the size of its previously announced underwritten public offering from 8,000,000 common shares to 10,500,000 common shares of the Company. The Company also announced that it has priced the offering at US$7.19 per common share (the “Offering Price“) for aggregate gross proceeds of US$63,559,600 for the Company and US$11,935,400 for the Selling Securityholders (as defined below) before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company and the Selling Securityholders.  The Company is offering 8,840,000 of the 10,500,000 common shares in the offering. The remaining 1,660,000 common shares are being offered by certain directors, officers and employees of the Company (the “Selling Securityholders“).

The Company has also granted the underwriters an over-allotment option to purchase up to an additional 1,575,000 common shares from the Company at the Offering Price, exercisable for a period of 30 days following closing of the offering. Leerink Partners LLC is acting as the sole book-running manager for the offering. Canaccord Genuity Inc. and JMP Securities LLC are acting as co-lead managers for the offering. Ladenburg Thalmann & Co. Inc. is acting as co-manager for the offering.

Closing of the offering will be subject to customary closing conditions, including listing of the common shares on the TSX and NASDAQ and any required approvals of the TSX, and is expected to occur on or about February 3, 2015.

The Company anticipates using the net proceeds of the offering (i) to complete the TIARA-I Feasibility Study; (ii) to initiate a U.S. Investigational Device Exemption Study for Tiara; (iii) to further develop and refine Tiara; (iv) to advance the commercialization of Reducer in Europe; (v) to initiate a U.S. Investigational Device Exemption Study for Reducer; and (vi) for general corporate purposes.

The securities described above are being offered pursuant to a shelf registration statement (including a prospectus) previously filed with and declared effective by the Securities Exchange Commission (“SEC“)  on May 14, 2014 and a corresponding Canadian base shelf prospectus dated May 13, 2014, filed with the securities regulatory authorities in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, Canada. All securities being sold in the offering are being sold only in the United States. A final prospectus supplement relating to the offering will be filed with the SEC and with the securities regulatory authorities in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, Canada.

A copy of the final prospectus supplement and accompanying prospectus relating to the offering will be available for free on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, or by phone at 1-800-808-7525, ext. 4814, or by email at Syndicate@leerink.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction. None of the underwriters of the offering is registered as a dealer in any Canadian jurisdiction and accordingly, the underwriters will only sell the offered shares in the United States.

About Neovasc Inc.

Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace.  Its products include the Tiara™ technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer™ for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products including transcatheter heart valves.

Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words “anticipates,” “believes,” “may,” “continues,” “estimates,” “expects,” and “will” and words of similar import, constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which the Company operates; the closing of the offering; regulatory approvals of the offering; the merits and the Company’s defence of the lawsuit filed by CardiAQ, our anticipated use of proceeds from any financings, a history of losses and lack of and uncertainty of revenues, ability to obtain required financing, receipt of regulatory approval of product candidates, ability to properly integrate newly acquired businesses, technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; liability and other claims asserted against the Company; and other factors referenced in the Company’s filings with Canadian securities regulators. No assurances can be given as to the future results, approvals or achievements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not assume the obligation to update any forward-looking statements except as otherwise required by applicable law.

Thursday, January 29th, 2015 Uncategorized Comments Off on (NVCN) Increases Size And Prices Offering Of Common Shares

(GENE) Announces up to 6 New Breast Centres to Begin Offering BREVAGenplus(R)

MELBOURNE, AUSTRALIA–(Jan 29, 2015) – Molecular diagnostics company Genetic Technologies Limited (ASX: GTG) (NASDAQ: GENE) (“Company”) is pleased to report that up to 6 new breast diagnosis/treatment centres are expected to begin offering BREVAGenplus® to their at-risk patients in a systematic broad fashion in the January to March timeframe, with a growing number of additional new breast and imaging centre customers expected to follow later in calendar year 2015. As a result, the Company expects sales growth to accelerate in the second half 2015 and beyond.

Prior to the release of BREVAGenplus, the Company revised its sales strategy to focus on large comprehensive breast treatment and imaging centres, in concert with its ongoing approach to independent physician and women’s healthcare providers. This recent pivotal change of sales and marketing emphasis towards large breast centres, which are more complex entities with a longer sales cycle, but with higher potential, is expected to lead to significant acceleration in growth and less volatile test volumes than the Company has experienced to date.

In October 2014, the Company announced the US release of BREVAGenplus, an easy-to-use predictive risk test for the millions of women at risk of developing sporadic, or non-hereditary, breast cancer, representing a marked enhancement in accuracy and broader patient applicability, over the Company’s first generation BREVAGen™ product. Results from BREVAGenplus provide physicians with valuable information to assist in developing a patient-specific Breast Cancer Risk Reduction and Screening Plan based on professional medical society guidelines, such as the American Cancer Society (ACS) (www.cancer.org) and The National Comprehensive Cancer Network (NCCN) (www.nccn.org).

About Genetic Technologies Limited
Genetic Technologies is a molecular diagnostics company that offers predictive testing and assessment tools to help physicians proactively manage women’s health. The Company’s lead product, BREVAGenplus®, is a clinically validated risk assessment test for non-hereditary breast cancer and is first in its class. BREVAGenplus® improves upon the predictive power of the first generation BREVAGen test and is designed to facilitate better informed decisions about breast cancer screening and preventive treatment plans. BREVAGenplus® expands the application of BREVAGen from Caucasian women to include African-Americans and Hispanics, and is directed towards women aged 35 years or above, who have not had breast cancer and have one or more risk factors for developing breast cancer.

The Company has successfully launched the first generation BREVAGen test across the U.S. via its U.S. subsidiary Phenogen Sciences Inc. and the addition of BREVAGenplus®, launched in October 2014, significantly expands the applicable market. The Company markets BREVAGenplus® to healthcare professionals in comprehensive breast health care and imaging centres, as well as to obstetricians/gynaecologists (OBGYNs) and breast cancer risk assessment specialists (such as breast surgeons).

For more information, please visit www.brevagenplus.com and www.phenogensciences.com.

Safe Harbor Statement
Any statements in this press release that relate to the Company’s expectations are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees. Since this information may involve risks and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. Additional risks associated with Genetic Technologies’ business can be found in its periodic filings with the SEC.

FOR FURTHER INFORMATION PLEASE CONTACT
Mr. Eutillio Buccilli
Chief Operating Officer &
Chief Financial Officer
Genetic Technologies Limited
+ 61 3 8412 7050

Candice Knoll (USA)
Blueprint Life Science Group
+1 (415) 375 3340, Ext. 105

Thursday, January 29th, 2015 Uncategorized Comments Off on (GENE) Announces up to 6 New Breast Centres to Begin Offering BREVAGenplus(R)

(ICPT) Breakthrough Therapy Designation From FDA In Liver Fibrosis

Breakthrough Therapy Designation for Treatment of NASH With Liver Fibrosis Reinforces Potential for OCA to Address Unmet Medical Need in Patients With This Serious Condition

NEW YORK, Jan. 29, 2015  — Intercept Pharmaceuticals, Inc. (Nasdaq:ICPT) (Intercept), today announced that its investigational product obeticholic acid (OCA) has received “breakthrough therapy designation” from the U.S. Food and Drug Administration (FDA) for the treatment of patients with nonalcoholic steatohepatitis (NASH) with liver fibrosis. This indication constitutes a population of patients with a serious and life-threatening condition reflected by a higher risk of progression to cirrhosis and liver failure. OCA is currently being developed for the treatment of several chronic liver diseases, including primary biliary cirrhosis (PBC), NASH and primary sclerosing cholangitis (PSC).

“We are very pleased to have received breakthrough therapy designation for NASH with liver fibrosis, as it will enable us to work closely with FDA to finalize the design of our Phase 3 program,” said Mark Pruzanski, M.D., President and Chief Executive Officer of Intercept. “This designation underscores a recognition of the urgent need to bring novel treatments to NASH patients who have developed liver fibrosis, which is expected to make this serious disease the leading cause for liver transplant in just the next few years. As a first-in-class FXR agonist, we believe OCA has the potential to be an important treatment option for patients with no currently approved medicines.”

Breakthrough therapy designation for OCA was based on clinical efficacy and safety data from two placebo-controlled, Phase 2 clinical trials of OCA. A Phase 2 trial in 64 patients with nonalcoholic fatty liver disease (NAFLD) assessed the impact of OCA treatment on insulin sensitivity (published in Gastroenterology in June 2013). The FLINT Phase 2 trial in 283 patients with NASH assessed the impact of OCA treatment on liver histology and fibrosis (published in The Lancet in November 2014).

The breakthrough therapy designation was created by the FDA to speed the availability of new therapies for serious or life-threatening conditions. Drugs qualifying for this designation must show credible evidence of a substantial improvement on a clinically significant endpoint over available therapies, or over placebo if there is no available therapy. The designation confers several benefits, including intensive FDA guidance and discussion and eligibility for submission of a rolling NDA.

About Nonalcoholic Steatohepatitis

NASH is a serious chronic liver disease caused by excessive fat accumulation in the liver that induces chronic inflammation which leads to progressive fibrosis (scarring) that can lead to cirrhosis, eventual liver failure and death. There are currently no drugs approved for the treatment of NASH. Studies have shown that 21-26% of NASH patients will develop cirrhosis over 8.2 years of follow-up and that liver-related mortality due to this disease is ten-fold that of the general population. According to recent epidemiological studies, it is estimated that more than 10% of the U.S. adult population has NASH with more than 60% of patients (potentially more than 14 million in total) believed to have liver fibrosis or cirrhosis due to progression of the disease. The proportion of liver transplants attributable to NASH has increased rapidly in past years and by 2020 the disease is projected to become the leading indication for liver transplant ahead of chronic hepatitis C and alcoholic liver disease. NASH patients with fibrosis are at greater risk of progressing to cirrhosis, liver failure and cancer.

About Intercept and Obeticholic Acid

Intercept is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat orphan and more prevalent liver and intestinal diseases utilizing its expertise in bile acid chemistry. The company’s lead product candidate, obeticholic acid (OCA), is a bile acid analog and first-in-class agonist of the farnesoid X receptor (FXR). OCA is being developed for a variety of chronic liver diseases including primary biliary cirrhosis (PBC), nonalcoholic steatohepatitis (NASH) and primary sclerosing cholangitis (PSC). OCA has been granted fast track designation by FDA for the treatment of patients with PBC who have an inadequate response to or are intolerant of ursodiol. OCA has received orphan drug designation in both the United States and Europe for the treatment of PBC and PSC. Intercept owns worldwide rights to OCA outside of Japan, China and Korea, where it has out-licensed the product candidate to Sumitomo Dainippon Pharma. For more information about Intercept, please visit the Company’s website at: www.interceptpharma.com.

Safe Harbor Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the clinical, preclinical and regulatory developments for our product candidates, the anticipated results of our clinical and preclinical trials and other development activities and the timing thereof, our potential development and regulatory milestones and the timeframes under which we anticipate such milestones may be achieved, whether the receipt of breakthrough therapy designation for OCA in fibrotic NASH patients will meaningfully impact the development and review of OCA by the FDA or the likelihood that the product will be found to be safe and effective, the clinical utility of the selected endpoints for our trials and any potential consensus relating thereto,  and our strategic directives under the caption “About Intercept.” These “forward-looking statements” are based on management’s current expectations of future events and are subject to a number of important risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the initiation, cost, timing, progress and results of our development activities, preclinical studies and clinical trials; the timing of and our ability to obtain and maintain regulatory approval of OCA, INT-767 and any other product candidates we may develop, particularly the possibility that regulatory authorities may require clinical outcomes data (and not just results based on achievement of a surrogate endpoint) as a condition to any marketing approval for OCA, and any related restrictions, limitations, and/or warnings in the label of any approved product candidates; our plans to research, develop and commercialize our product candidates; the election by our collaborators to pursue research, development and commercialization activities; our ability to attract collaborators with development, regulatory and commercialization expertise; our ability to obtain and maintain intellectual property protection for its product candidates; our ability to successfully commercialize our product candidates; the size and growth of the markets for our product candidates and our ability to serve those markets; the rate and degree of market acceptance of any future products; the success of competing drugs that are or become available; regulatory developments in the United States and other countries; the performance of third-party suppliers and manufacturers; our need for and ability to obtain additional financing; our estimates regarding expenses, future revenues and capital requirements and the accuracy thereof; our ability to retain key scientific or management personnel; and other factors discussed under the heading “Risk Factors” contained in our annual report on Form 10-K for the year ended December 31, 2013 filed on March 14, 2014 as well as any updates to these risk factors filed from time to time in our other filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Intercept undertakes no duty to update this information unless required by law.

CONTACT: For more information about Intercept,
         please contact Barbara Duncan or Senthil Sundaram,
         both of Intercept Pharmaceuticals at 1-646-747-1000.
         Media inquiries: media@interceptpharma.com
         Investor inquiries: investors@interceptpharma.com
Thursday, January 29th, 2015 Uncategorized Comments Off on (ICPT) Breakthrough Therapy Designation From FDA In Liver Fibrosis

(ATNM) to Participate in the Canaccord Genuity Rare Disease and Biopharma One-on-One Day

NEW YORK, NY–(January 28, 2015) – Actinium Pharmaceuticals, Inc. (NYSE MKT: ATNM) (“Actinium” or “the Company”), a biopharmaceutical company developing innovative targeted payload immunotherapeutics for the treatment of advanced cancers, today announced that Mr. Sandesh Seth, Executive Chairman of Actinium, and other members of the management team will be attending the Canaccord Genuity Rare Disease and Biopharma One-on-One Day on Tuesday, February 3, 2015.

Members of the investment community who are interested in meeting with management should contact Evan Smith, CFA of Actinium Pharmaceuticals at (646) 840-5442 or esmith@actiniumpharma.com.

About Actinium Pharmaceuticals

Actinium Pharmaceuticals, Inc. (www.actiniumpharma.com) is a New York-based biopharmaceutical company developing innovative targeted payload immunotherapeutics for the treatment of advanced cancers. Actinium’s targeted radiotherapy is based on its proprietary delivery platform for the therapeutic utilization of alpha-emitting actinium-225 and bismuth-213 and certain beta emitting radiopharmaceuticals in conjunction with monoclonal antibodies. The Company’s lead radiopharmaceutical Iomab™-B will be used in preparing patients for hematopoietic stem cell transplant, commonly referred to as bone marrow transplant. The Company is preparing a single, pivotal, multicenter Phase 3 clinical study of Iomab™-B in refractory and relapsed Acute Myeloid Leukemia (AML) patients over the age of 55 with a primary endpoint of durable complete remission. The Company’s second program, Actimab-A, is continuing its clinical development in a Phase 1/2 trial for newly diagnosed AML patients over the age of 60 in a single-arm multicenter trial.

Forward-Looking Statement for Actinium Pharmaceuticals, Inc.

This news release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve risks and uncertainties, which may cause actual results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential, or financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Actinium Pharmaceuticals undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Contact:
Actinium Pharmaceuticals, Inc.
Evan Smith, CFA
VP Investor Relations and Finance
+1 (646) 840-5442
Email: esmith@actiniumpharma.com

Wednesday, January 28th, 2015 Uncategorized Comments Off on (ATNM) to Participate in the Canaccord Genuity Rare Disease and Biopharma One-on-One Day

(RDUS) Closing of Public Offering of Common Stock

Full Exercise of Underwriters’ Option to Purchase Additional Shares

WALTHAM, Mass., Jan. 28, 2015  — Radius Health, Inc. (Nasdaq:RDUS) (the “Company”), a science-driven biopharmaceutical company focused on developing potential new therapeutics for patients with advanced osteoporosis as well as other serious endocrine-mediated diseases, including hormone responsive cancers, today announced the closing of its previously announced public offering of 4,600,000 shares of common stock at a public offering price of $36.75 per share, including 600,000 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares of common stock.

Goldman, Sachs & Co. and BofA Merrill Lynch are acting as joint book-running managers for the offering. Cowen and Company, LLC is acting as lead manager.

The offering was made pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on January 20, 2015. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of shares of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A prospectus supplement describing the terms of the offering has been filed with the Securities and Exchange Commission and forms a part of the effective registration statement. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone at (866) 471-2526 or e-mail at prospectus-ny@gs.com, or BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or via email, at dg.prospectus_requests@baml.com.

CONTACT: Investor Relations
         Barbara Ryan
         Clermont Partners
         bryan@radiuspharm.com
         203-274-2825
Wednesday, January 28th, 2015 Uncategorized Comments Off on (RDUS) Closing of Public Offering of Common Stock

(COMM) Agrees To Acquire TE Connectivity’s Telecom, Enterprise and Wireless Businesses

Combination of Highly Complementary Businesses Broadens CommScope’s Position as a Leading Communications Infrastructure Provider Expanded Offerings Position CommScope to Meet Growing Demand for Bandwidth Transaction Expected to be Significantly Accretive to CommScope’s Adjusted EPS and Exceed $150 Million in Annual Synergies Beginning in Third Year Following Closing Transaction Valued at $3 Billion

CommScope Holding Company, Inc. (NASDAQ: COMM) has agreed to acquire TE Connectivity’s (NYSE: TEL) Telecom, Enterprise and Wireless businesses in an all-cash transaction valued at approximately $3 billion. The transaction, which was approved by the boards of directors of both companies, is expected to accelerate CommScope’s strategy to drive profitable growth by entering into attractive adjacent markets and to broaden its position as a leading communications infrastructure provider. In addition, CommScope will have greater geographic and business diversity following the completion of the transaction.

The Telecom, Enterprise and Wireless businesses of TE Connectivity, a world leader in fiber optic connectivity for wireline and wireless networks, generated annual revenues of approximately $1.9 billion in its fiscal year ended September 26, 2014, consisting of $1.1 billion from its Telecom business, where it is a world leader; $627 million from Enterprise; and $164 million from Wireless. The combined company’s pro forma results for the twelve months ended September 30, 2014 would have been approximately $5.8 billion in net sales and $1.2 billion in pro forma adjusted EBITDA. The transaction is expected to be in excess of 20% accretive to CommScope’s adjusted earnings per share by the end of the first full year after closing and on a pro forma basis, excluding purchase accounting charges, transition costs and other special items.

“This is an important and transformative acquisition for CommScope, bringing together complementary geographic and customer coverage, products and technologies for the benefit of our stockholders, customers and employees,” said Eddie Edwards, CommScope president and chief executive officer. “This transaction has many clear strategic and financial benefits for all of our stakeholders. It creates enhanced scale with a combined, diversified portfolio that we believe is well-positioned to take advantage of opportunities in the marketplace.

“We look forward to welcoming the TE Connectivity businesses to CommScope, which will bring top talent, strong customer relationships in growing markets and a robust pipeline of innovations. CommScope has a strong track record of disciplined strategic acquisitions and successful integrations, and we look forward to working with the TE Connectivity team to bring these assets together as cohesively and expeditiously as possible.”

“CommScope is a proven industry leader, and we believe it is the right company to lead our Telecom, Enterprise and Wireless businesses forward,” said Tom Lynch, TE Connectivity chairman and chief executive officer. “Our dedicated employees have been instrumental in the success of these businesses, and we are confident in their ability to continue to deliver. We look forward to working closely with the CommScope management team to close the transaction.”

Transaction Expected to Position CommScope for Future Growth and Value Creation Through:

  • Establishing Leading Positions Across Diverse and Growing Product Segments and Geographies: This transaction is expected to provide CommScope with the opportunity to expand into the adjacent wireline telecom networks/fiber-to-the-X (FTTx) market and meet the steadily growing demand for broadband services in developed and emerging markets. Upon completion of the transaction, CommScope’s overall sales concentration would be more balanced based on the 12 months ending September 30, 2014:
    • Wireless—approximately 46% of sales, versus 65%;
    • Enterprise—approximately 26% of sales, versus 22%; and
    • Broadband Connectivity—approximately 28% of sales, versus 13%.

Furthermore, with TE Connectivity’s strong presence in the Europe, Middle East, Africa and Asia Pacific regions, the combined company is expected to meaningfully expand its footprint and global competitive position.

 

  • Significantly Expanding Platform for Innovative Solutions: The transaction is expected to substantially expand CommScope’s foundation of innovation with the addition of approximately 7,000 patents and patent applications worldwide from TE Connectivity. Further, TE Connectivity’s leading fiber technology is expected to help CommScope better address a transition to fiber deployments deeper into networks and data centers as consumers and businesses generate increasing bandwidth requirements. With these additional innovative solutions, CommScope expects to solve more customer communications challenges, while providing greater opportunities to its business partners.
  • Creating Complementary Market Opportunities: The combined company is expected to have the technology, solutions and talent to provide greater value and a broader range of services to its customers and partners. Additionally, TE Connectivity’s existing relationships with key industry participants are expected to enable the combined company to meaningfully strengthen its position across multiple markets.
  • Offering Significant Synergy Opportunities and Strong Financial Profile: CommScope expects to realize more than $150 million in annual synergies beginning in the third year following closing, which includes more than $50 million in the first full year. CommScope expects to drive synergies across all areas of the company, including sales, marketing, general and administration, operations, and research and development. The transaction is expected to be in excess of 20% accretive by the end of the first full year after closing and on a pro forma basis, excluding purchase accounting charges, transition costs and other special items.
  • Enhancing Employee Opportunities as Part of Larger Organization: TE Connectivity’s Telecom, Enterprise and Wireless businesses will contribute approximately 10,000 people and 65 facilities to CommScope. This combination is expected to create an even stronger base of talent by uniting two highly-skilled and diverse workforces with a strong commitment to serving customers. As part of a stronger, larger company, CommScope and TE Connectivity employees are expected to have the opportunity to benefit from greater career and professional development opportunities.

Management Team, Closing and Financing

Upon completion of the transaction, Mr. Edwards, along with other members of the CommScope executive management team, will continue to lead the company. CommScope management will be welcoming members of the TE Connectivity leadership team upon closing of the transaction. CommScope corporate headquarters will remain in Hickory, North Carolina.

The transaction is expected to close by the end of 2015 subject to consummation of contemplated financing, regulatory approvals and other customary closing conditions.

CommScope expects to finance the transaction through the use of cash on hand and up to $3 billion of incremental debt, and has received debt financing commitments from J.P. Morgan Securities LLC, BofA Merrill Lynch, Deutsche Bank and Wells Fargo. Upon completion of the transaction, CommScope’s net debt to 2014 pro forma adjusted EBITDA ratio is expected to total approximately 4.0x to 4.5x.

Advisors

Allen & Company LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch and Deutsche Bank are serving as financial advisors to CommScope. Alston & Bird LLP, Latham & Watkins LLP, Baker & McKenzie and Jones Day are serving as legal advisors to CommScope.

Conference Call and Webcast

CommScope will host a conference call at 8:00 AM ET today, January 28, 2015, to discuss the transaction. The conference call can be accessed by dialing (866) 610-1072 (U.S./Canada) or (973) 935-2840 (International) and giving the passcode 73069027. A replay of the call will be available from January 28, 2015 at 11:00 AM ET until 11:59 PM ET on February 11, 2015 by dialing (800) 585-8367 (U.S./Canada) or (404) 537-3406 (international) and by entering the passcode 73069027. The webcast and accompanying presentation of the conference call will be available on CommScope’s website (www.CommScope.com) prior to the start of the call.

About CommScope

CommScope (NASDAQ: COMM) helps companies around the world design, build and manage their wired and wireless networks. Our network infrastructure solutions help customers increase bandwidth; maximize existing capacity; improve network performance and availability; increase energy efficiency; and simplify technology migration. You will find our solutions in the largest buildings, venues and outdoor spaces; in data centers and buildings of all shapes, sizes and complexity; at wireless cell sites and in cable headends; and in airports, trains, and tunnels. Vital networks around the world run on CommScope solutions.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning CommScope, the proposed acquisition by CommScope of the Telecom, Enterprise and Wireless businesses of TE Connectivity and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of CommScope and TE Connectivity as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “would,” “should,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project” or similar words, phrases or expressions. These forward-looking statements are subject to various risks and uncertainties, many of which are outside the control of CommScope and TE Connectivity. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include failure to obtain applicable regulatory approvals in a timely manner, on terms acceptable to CommScope or TE Connectivity or at all; failure to satisfy other closing conditions to the proposed transactions; the risk that CommScope will be required to pay the reverse break-up fee under the Stock and Asset Purchase Agreement; the risk that the TE Connectivity businesses will not be integrated successfully into CommScope or that CommScope will not realize estimated cost savings, synergies and growth or that such benefits may take longer to realize than expected; failure by CommScope to realize anticipated benefits of the acquisition; risks relating to unanticipated costs of integration; risks from relying on TE Connectivity for various critical transaction services for an extended period; reductions in customer spending and/or a slowdown in customer payments; failure to manage potential conflicts of interest between or among customers; unanticipated changes relating to competitive factors in the telecommunications industry; ability to hire and retain key personnel; the potential impact of announcement or consummation of the proposed acquisition on relationships with third parties, including customers, employees and competitors; ability to attract new customers and retain existing customers in the manner anticipated; changes in legislation or governmental regulations affecting the CommScope and the TE Connectivity businesses to be acquired; international, national or local economic, social or political conditions that could adversely affect CommScope, the TE Connectivity businesses to be acquired or their customers; conditions in the credit markets that could impact the costs associated with financing the acquisition; risks associated with assumptions made in connection with the critical accounting estimates, including segment presentation, and legal proceedings of CommScope and/or the TE Connectivity businesses to be acquired; and the international operations of CommScope and/or the TE Connectivity businesses to be acquired, which are subject to the risks of currency fluctuations and foreign exchange controls. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect the businesses of CommScope and/or the TE Connectivity businesses to be acquired, including those described in each of CommScope’s and TE Connectivity’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed from time to time with the Securities and Exchange Commission. Except as required under applicable law, the parties do not assume any obligation to update these forward-looking statements.

Investor Contact
Phil Armstrong, CommScope
Senior Vice President, Corporate Finance
+1 828-323-4848
phil.armstrong@commscope.com
or
Media Contacts
Rick Aspan, CommScope
Vice President, Corporate Communications
+1 708-236-6568
rick.aspan@commscope.com
or
James Golden / Joe Snodgrass / Joseph Sala
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449

Wednesday, January 28th, 2015 Uncategorized Comments Off on (COMM) Agrees To Acquire TE Connectivity’s Telecom, Enterprise and Wireless Businesses

(ADMP) Notice of Allowance for US and Japanese Patents for Its Dry Powder Inhaler

SAN DIEGO, Jan. 28, 2015  — Adamis Pharmaceuticals Corporation (Nasdaq:ADMP) (“Company”) recently received a notice of allowance that one of its patent applications for its proprietary dry powder inhaler, Taper DPI, will issue in the United States (U.S. Patent Application No. 13/320,762) and in Japan (Japanese Patent Application No. 2012-511965). The approved claims describe the device and components that are important for its function.

As previously announced, Adamis acquired worldwide rights to the Taper DPI technology in all medical indications from 3M. The Taper DPI technology was designed to efficiently deliver dry powder by utilizing a carrier tape.  Adamis intends to use the Taper DPI initially to develop a combination drug product, referred to as APC-5000 DPI, intended for the treatment of asthma and COPD by delivering the same active ingredients as GlaxoSmithKline’s (“GSK”) Advair Diskus®.  The Advair Diskus®, which, according to GSK’s public filings, had revenues of over $8 billion worldwide in 2013, is a dry powder inhaler product that combines fluticasone and salmeterol.  Fluticasone belongs to the family of medicines known as corticosteroids or steroids which produce anti-inflammatory effects. Salmeterol is a long-acting beta-agonist drug that causes bronchodilation by relaxing the smooth muscle in the airway.

In its current stage of development, Adamis’ Taper DPI combines patient-friendly design and active aerosolization to provide effective delivery of drug in a multi-dose DPI. Additional advantages of the current technology seem to include: greater efficiency, ability to supply a single or combination of drugs, eliminates the need for excipients in most formulations, less dependence on the individual’s inspiratory flow rate, and ease of use.

Upon completion of clinical trials and if required regulatory approvals are obtained, Adamis intends to commercially market the APC-5000 product to compete for a share of the Advair Diskus® market with a branded generic version.  Assuming clinical trials are successfully completed, Adamis expects to pursue an NDA under Section 505(b)(2) to seek approval for sale in the U.S. market.  Outside of the U.S., the Company plans to identify potential opportunities to market APC-5000 DPI based products. The Company also believes that the device can be used to deliver a variety of different drug compounds, potentially creating multiple follow-on products for Adamis using this platform DPI technology.

About Adamis Pharmaceuticals Corporation

Adamis Pharmaceuticals Corporation is a biopharmaceutical company engaged in the development and commercialization of specialty pharmaceutical and biotechnology products in the therapeutic areas of respiratory disease, allergy, oncology and immunology.  Adamis’ current specialty pharmaceutical product candidates include the Epinephrine Injection PFS syringe product for use in the emergency treatment of anaphylaxis, APC-1000 and APC-5000 for the treatment of asthma and chronic obstructive pulmonary disease, and APC-3000, an HFA inhaled nasal steroid product for the treatment of allergic rhinitis. The company’s vaccine product candidates and cancer drug product candidates under research and development include TeloB-VAX, a cell-based therapeutic cancer vaccine and three drugs, APC-100, APC-200, and APC-300, for the treatment of prostate cancer.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future results of operations or future financial performance, including, but not limited to the following statements: the company’s beliefs concerning the ability of its product candidates to compete successfully in the market; the company’s beliefs concerning the safety and effectiveness of its product candidates; the results of any future clinical trials that the company may conduct relating to its product candidates; the ability to fund future product development; future revenues expected from any of its product candidates, assuming that they are developed and approved for marketing by the FDA and other regulatory authorities; and the intellectual property protection that may be afforded by any patents or patent applications relating to its products and product candidates. Statements in this press release concerning future events depend on several factors beyond the company’s control, including receipt of adequate funding to support these activities, the absence of unexpected developments or delays, market conditions, and the regulatory approval process. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Adamis’ actual results to be materially different from these forward-looking statements. Certain of these risks, uncertainties, and other factors are described in greater detail in Adamis’ filings from time to time with the SEC, which Adamis strongly urges you to read and consider, all of which are available free of charge on the SEC’s web site at http://www.sec.gov. Except to the extent required by law, Adamis expressly disclaims any obligation to update any forward-looking statements. The company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release.

CONTACT: Mark Flather
         Director, Investor Relations
         & Corporate Communications
         (858) 412-7951
         mflather@adamispharma.com

         Mark Gundy
         External Investor Relations
         972-240-1873
         markgundy@gmail.com
Wednesday, January 28th, 2015 Uncategorized Comments Off on (ADMP) Notice of Allowance for US and Japanese Patents for Its Dry Powder Inhaler

(MNOV) Open Investigational New Drug (IND) Application for MN-001 in NASH

LA JOLLA, Calif., Jan. 28, 2015  — MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (Nasdaq:MNOV) and the JASDAQ Market of the Tokyo Stock Exchange (Code Number: 4875), today announced that the IND (Investigational New Drug) Application for MN-001 (tipelukast) for the treatment of NASH (nonalcoholic steatohepatitis) has been accepted and is now open with the FDA (U.S. Food and Drug Administration). Importantly, due to safety data from previous clinical studies of MN-001, FDA has agreed that MediciNova may proceed with a Phase 2 study as the first clinical study of MN-001 in NASH.

“We are very pleased that this important regulatory step is now completed, as we can now pursue clinical development of MN-001 in NASH or other liver diseases,” commented Yuichi Iwaki, MD, PhD, President and CEO of MediciNova, Inc.

About NASH (nonalcoholic steatohepatitis)

Nonalcoholic steatohepatitis (NASH) is a condition in which there is fat in the liver along with inflammation and damage to liver cells. NASH is a common liver disease that resembles alcoholic liver disease but occurs in people who drink little or no alcohol. According to the U.S. National Digestive Diseases Information Clearinghouse (NDDIC), NASH prevalence in the U.S. is 2-5%, and an additional 10-20% of Americans have “fatty liver.” The underlying cause of NASH is unclear, but it most often occurs in persons who are middle-aged and overweight or obese. Many patients with NASH have elevated serum lipids, diabetes or pre-diabetes. Progression of NASH can lead to liver cirrhosis. Liver transplantation is the only treatment for advanced cirrhosis with liver failure. At this time, there is no treatment for NASH.

About MN-001

MN-001 (tipelukast) is a novel, orally bioavailable small molecule compound which exerts its effects through several mechanisms to produce its anti-fibrotic and anti-inflammatory activity in preclinical models, including leukotriene (LT) receptor antagonism, inhibition of phosphodiesterases (PDE) (mainly 3 and 4), and inhibition of 5-lipoxygenase (5-LO). The 5-LO/LT pathway has been postulated as a pathogenic factor in fibrosis development and MN-001’s inhibitory effect on 5-LO and the 5-LO/LT pathway is considered to be a novel approach to treat fibrosis. MN-001 has been shown to down-regulate expression of genes that promote fibrosis including LOXL2, Collagen Type 1 and TIMP-1. MN-001 has also been shown to down-regulate expression of genes that promote inflammation including CCR2 and MCP-1. In addition, histopathological data shows that MN-001 reduces fibrosis in multiple animal models.

Previously, MediciNova evaluated MN-001 for its potential clinical efficacy in asthma and had positive Phase 2 results. MN-001 has been exposed to more than 600 subjects and considered generally safe and well-tolerated. In 2014, MediciNova announced that it received a notice of allowance for a new patent which covers MN-001 and MN-002 for the treatment of nonalcoholic fatty liver disease, and a second notice of allowance for a new patent which covers MN-001 and MN-002 for the treatment of steatosis.

About MediciNova

MediciNova, Inc. is a publicly-traded biopharmaceutical company founded upon acquiring and developing novel, small-molecule therapeutics for the treatment of diseases with unmet medical needs with a commercial focus on the U.S. market. MediciNova’s current strategy is to focus on MN-166 (ibudilast) for neurological disorders such as progressive MS, ALS and substance dependence (e.g., methamphetamine dependence, opioid dependence) and MN-001 (tipelukast) for nonalcoholic steatohepatitis (NASH) and idiopathic pulmonary fibrosis (IPF) and other fibrotic disease. MediciNova’s pipeline also includes MN-221 (bedoradrine) for the treatment of acute exacerbations of asthma and MN-029 (denibulin) for solid tumor cancers. MediciNova is engaged in strategic partnering and other potential funding discussions to support further development of its programs. For more information on MediciNova, Inc., please visit www.medicinova.com.

Statements in this press release that are not historical in nature constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the future development and efficacy of MN-166, MN-221, MN-001, and MN-029. These forward-looking statements may be preceded by, followed by or otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “projects,” “can,” “could,” “may,” “will,” “would,” “considering,” “planning” or similar expressions. These forward-looking statements involve a number of risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results or events to differ materially from those expressed or implied by these forward-looking statements include, but are not limited to, risks of obtaining future partner or grant funding for development of MN-166, MN-221, MN-001, and MN-029 and risks of raising sufficient capital when needed to fund MediciNova’s operations and contribution to clinical development, risks and uncertainties inherent in clinical trials, including the potential cost, expected timing and risks associated with clinical trials designed to meet FDA guidance and the viability of further development considering these factors, product development and commercialization risks, the uncertainty of whether the results of clinical trials will be predictive of results in later stages of product development, the risk of delays or failure to obtain or maintain regulatory approval, risks associated with the reliance on third parties to sponsor and fund clinical trials, risks regarding intellectual property rights in product candidates and the ability to defend and enforce such intellectual property rights, the risk of failure of the third parties upon whom MediciNova relies to conduct its clinical trials and manufacture its product candidates to perform as expected, the risk of increased cost and delays due to delays in the commencement, enrollment, completion or analysis of clinical trials or significant issues regarding the adequacy of clinical trial designs or the execution of clinical trials, and the timing of expected filings with the regulatory authorities, MediciNova’s collaborations with third parties, the availability of funds to complete product development plans and MediciNova’s ability to obtain third party funding for programs and raise sufficient capital when needed, and the other risks and uncertainties described in MediciNova’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2013 and its subsequent periodic reports on Forms 10-Q and 8-K. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date hereof. MediciNova disclaims any intent or obligation to revise or update these forward-looking statements.

CONTACT: INVESTOR CONTACT:
         Geoff O'Brien
         Vice President
         MediciNova, Inc.
         info@medicinova.com
Wednesday, January 28th, 2015 Uncategorized Comments Off on (MNOV) Open Investigational New Drug (IND) Application for MN-001 in NASH

(CBLI) Announces Board Appointment

BUFFALO, NY–(Jan 28, 2015) – Cleveland BioLabs, Inc. (NASDAQ: CBLI) today announced the appointment of Elena Kasimova of BioProcess Capital Partners to the Company’s Board of Directors. Ms. Kasimova was appointed pursuant to a Rights Agreement with Dr. Mikhail Mogutov, which was entered into in connection with a private sale of securities to Dr. Mogutov in June 2014. As a result of the June 2014 sale, Dr. Mogutov is a holder of approximately 9% of CBLI’s outstanding shares of common stock.

Ms. Kasimova has more than 10 years of experience in various financial positions with a focus on corporate finance and mergers and acquisitions. She has been Director of Strategy and Investment at BioProcess Capital Partners since 2010. Ms. Kasimova also currently serves on the Board of Directors of 7 biotechnological and pharmaceutical companies. Prior to this she was a Vice President at NRG Private Equity, the management company of a private equity fund with over $200 million in assets under management. From 2005 to 2008, Ms. Kasimova was Director of J&P Capital, the Corporate Finance and Investment Department of J’son & Partners Consulting, where she managed more than 50 corporate finance and investment projects. From 2003 to 2005, she served in various positions in the Financial Department at Ulyanovsk-GSM, a cellular operator, ending her tenure as Chief Economist. She holds degrees in investment management and linguistics from Ulyanovsk State University and is certified by the Russian state securities and exchange commission as an investment fund manager and executive.

Yakov Kogan, Ph.D., MBA, Chief Executive Officer, stated, “We welcome Elena to our Board. Her perspective on corporate finance and investing will be valuable as we approach commercialization of entolimod as a medical radiation countermeasure and pursue partnerships for our oncology assets. We are on track for filing a pre-Emergency Use Authorization (pre-EUA) submission for entolimod’s biodefense indication in the first half of 2015 and have received notice that our proposal to support further development of entolimod as a medical radiation countermeasure has been recommended for funding subject to negotiations by the Department of Defense office of Congressionally Directed Medical Research Programs. We are analyzing data from the completed Phase 1 study of entolimod in advanced cancer patients and have started dosing in a small expansion study in the Russian Federation to gather additional immune cell response data at the highest dose levels reached in the Roswell Park study. Incuron’s two Phase 1 studies with Curaxin CBL0137 are continuing to progress, as no dose-limiting toxicities have been observed in either trial to date. Finally, dosing continues in a Phase 1 healthy subject study evaluating safety, tolerability and pharmacology of a single administration of CBLB612, and characterizing the type, quantity and timing of hematopoietic stem cell mobilization in these subjects.”

About Cleveland BioLabs
Cleveland BioLabs, Inc. is an innovative biopharmaceutical company seeking to develop first-in-class pharmaceuticals designed to address diseases with significant medical need. The company’s lead product candidates are entolimod, which is being developed as radiation countermeasure and a potential cancer treatment, and Curaxin CBL0137, our lead oncology product candidate. The company conducts business in the United States and in the Russian Federation through our three operating subsidiaries, Incuron, LLC, BioLabs 612, LLC and Panacela Labs, Inc. The company maintains strategic relationships with the Cleveland Clinic, Roswell Park Cancer Institute, and the Children’s Cancer Institute Australia. To learn more about Cleveland BioLabs, Inc., please visit the Company’s website at http://www.cbiolabs.com.

This press release contains certain forward-looking information about Cleveland BioLabs that is intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. Words such as “will,” “may,” “approach,” “pursue,” “continuing,” “continues” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding our ability to successfully develop and commercialize our therapeutic products; our ability to successfully submit and receive approval of our pre-EUA application for entolimod, the conduct and results of our various clinical trials; our ability to obtain approval from the U.S. Food and Drug Administration of our product candidates; and future performance. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. 

These risks and uncertainties include, among others, the Company’s failure to successfully and timely develop existing and new products; the Company’s collaborative relationships and the financial risks related thereto; the risks inherent in the early stages of drug development and in conducting clinical trials; the Company’s ability to comply with its obligations under license agreements; the Company’s inability to obtain regulatory approval in a timely manner or at all; subsequent changes in the agreement with the Russian Ministry of Industry and Trade, the Company’s history of operating losses and the potential for future losses, which may lead the Company to not be able to continue as a going concern. Some of these factors could cause future results to materially differ from the recent results or those projected in forward-looking statements. See also the “Risk Factors” and “Forward-Looking Statements” described in the Company’s periodic filings with the Securities and Exchange Commission.

Contact:
Rachel Levine
Vice President, Investor Relations
Cleveland BioLabs, Inc.
T: (917) 375-2935
E: rlevine@cbiolabs.com

Wednesday, January 28th, 2015 Uncategorized Comments Off on (CBLI) Announces Board Appointment

(NETE) Subsidiary Improves Mobile POS Restaurant Software with Additional Features

Aptito’s powerful all-in-one software gets dynamic upgrade, adding to original product functionality and increased sales momentum

MIAMI, Jan. 28, 2015  — Net Element Inc. (NASDAQ: NETE) subsidiary Aptito LLC today unveils version 2.3 of its cloud-based mobile point-of-sale (“mPOS”) platform. Aptito’s all-in-one restaurant and bar POS and business management software gives restaurants the tools to reduce payroll costs, improve efficiency, and increase customer satisfaction. The new mPOS version 2.3 is optimized for iOS 8.1.2 and is compatible with any iPhone 4, 4s, 5, 5c, 5s, 6, 6 Plus, as well as the iPod Touch.

“We are continuously advancing our technology to enhance product functionality for the benefit of our customers, and today we’re pleased to introduce to the marketplace our latest innovation, Aptito mPOS version 2.3,” says Oleg Firer, chief executive officer of Net Element. “One of the primary features of the new mPOS platform is its extended compatibility and significant overall redesign. Together, these updates and improvements result in numerous innovative advantages.”

Maintaining the feature-rich functionality of the previous mPOS platform, mPOS version 2.3 is equipped with several innovative improvements, including:

  1. Apple iOS 8.1.2, iPhone 6 & 6 Plus optimization;
  2. User interface redesign to provide greater simplicity in operation;
  3. Local server integration to support offline mode and internet downtime;
  4. Pay at the table functionality using latest secure, card reader technology;
  5. Cardholder signature screen on checkout with signature capture and storage.

Software licensing revenue for the platform increased at an average monthly rate of 8.2% when Net Element launched Aptito 2.0 in November 2014. The Company anticipates continued momentum from the release of mPOS version 2.3.

“We are more than pleased with the initial success of Aptito 2.0 and the traction the platform is seeing in the market,” says Firer. “The immediate increase in revenues validates our belief and provides tangible evidence of the growing interest in the mPOS platform.”

Aptito’s cloud-based software allows restaurants to revolutionize their customers’ dining experience. The Aptito mPOS application is free, so restaurant owners can test the software on their own mobile devices alongside our iPad POS system at no risk.

Key features of the mobile POS solution include:

All-Inclusive Functionality. The all-in-one platform allows staff to take orders, send them to the kitchen, process payments and more all from one device. The multi-functionality saves time, which can reduce payroll costs and improve customer satisfaction.

Tableside Ordering and Payment. The new Aptito allows customers to place their own orders right at the table with full-color, digital menus, as well as to make their own payments. This feature is ideal for helping to reduce wait times and to encourage additional orders.

Small and Mobile System. Aptito’s mobile platform can be used on an iPhone or iPod Touch, which takes up much less space than a traditional POS. The platform clears up counter space and eliminates long lines in front of cash registers while enabling waitstaff to serve customers wherever they are located in the restaurant.

Improved Training and Payroll. The new Aptito system is simple to use with little training required.  New employees can learn the system within minutes, which will help them quickly feel confident and reduce the restaurant’s training costs. The system also includes features like a time clock, allowing employees to punch in and out exactly when their shift begins and ends, thereby reducing wastes in payroll.

Whether customers are ordering their own food at their table or servers are sending orders to the kitchen at the touch of a button, the new Aptito mPOS accelerates service to customers and provides a more positive dining experience. Digital menus with beautiful color photographs will encourage more ordering and increase the amount of each transaction.

Additional features include smart inventory management, digital menu syncing, a real-time reservation system, automated delivery and takeout, payroll scheduling and more. The system is also able to connect to a local server and work in an offline mode, so businesses never have to worry about losing a sale because of a problem with Internet connection.

About Net Element

Net Element (NASDAQ: NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services. The Company owns and operates a global mobile payments and transaction processing provider, TOT Group. TOT Group companies include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Private Company in America in 2012; Aptito, a next generation cloud-based point of sale payments platform; and TOT Money, which has a leading position in Russia and has been ranked as the #1 SMS content provider by Beeline, Russia’s second largest telecommunications operator. Together with its subsidiaries, Net Element enables ecommerce and adds value to mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the Company for continued growth. More information is available at www.netelement.com.

Forward-Looking Statements

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. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, whether Net Element or its business continues to grow, whether the release of the new version of the Aptito product will have a positive effect on the Company’s business and whether Net Element can secure any additional financing and if such additional financing will be adequate to meet the Company’s objectives.  All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Net Element’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element’s ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element’s ability to successfully expand in existing markets and enter new markets; (iv) Net Element’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element’s business; (viii) changes in government licensing and regulation that may adversely affect Net Element’s business; (ix) the risk that changes in consumer behavior could adversely affect Net Element’s business; (x) Net Element’s ability to protect its intellectual property; (xi) local, industry and general business and economic conditions; (xii) adverse effects of potentially deteriorating U.S.-Russia relations, including, without limitation, over a conflict related to Ukraine, including a risk of further U.S. government sanctions or other legal restrictions on U.S. businesses doing business in Russia. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K and the subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element with the Securities and Exchange Commission. Net Element anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

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(USAT) Announces Support for Apple Pay

USA Technologies, Inc. (NASDAQ:USAT), a leader of wireless, cashless payment and M2M/IoT solutions for small-ticket, self-serve retailing industries, today announced a nationwide rollout of new acceptance points for Apple Pay, a new category of service that transforms mobile payments with an easy, secure and private way to pay.

This immediately adds approximately 200,000 Apple Pay acceptance points to the growing list of locations officially supporting Apple Pay, bringing the advanced mobile payments service to owners and operators of coffee brewers, vending machines, kiosks, laundry equipment, parking pay stations and other self-serve appliances.

“Our customers are excited to accept Apple Pay at the self-serve locations they operate,” said Stephen P. Herbert, Chairman and Chief Executive Officer of USA Technologies. “We anticipate that the millions of consumers who frequent these locations will appreciate the convenience and security of using Apple Pay for their everyday purchases, and we believe that Apple Pay will help to drive additional sales for our customers. USA Technologies has always sought to provide convenience, security and an easy way to pay for consumers who are less and less likely to carry cash. We recognized early on the potential for mobile payment, and promoted the technology to ensure our customers were ready for this shift to occur.”

Security and privacy is at the core of Apple Pay. When you add a credit or debit card with Apple Pay, the actual card numbers are not stored on the device nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code, instead of using the security code from the back of your card.

USA Technologies began building NFC capabilities into its cashless payment products and services approximately 10 years ago and has enjoyed a steady increase in the sale of its flagship ePort cashless payments technologies specially designed for small ticket, unattended retail applications.

Apple Pay will work with iPhone 6, iPhone 6 Plus and Apple Watch, upon availability. For more information on Apple Pay, visit: https://www.apple.com/apple-pay/

About USA Technologies, Inc.:

USA Technologies is a leader of wireless, cashless payment and M2M/IoT telemetry solutions for small-ticket, self-serve retailing industries. ePort Connect® is the company’s 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 ePort® G-series, ePort Mobile™ 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, MasterCard, and customers such as Compass, Coca-Cola Refreshments USA, Inc., 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 ability of USAT to predict future or any market conditions and consumer behavior; and the possibility that all of the expected benefits from acceptance of payments through Apple Pay, including increased sales, will not be realized by our customers, or will not be realized to the extent predicted and/or within the expected time period. 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

 

Investor Contact:
USA Technologies
The Blueshirt Group
Mike Bishop, +1 415-217-4968
mike@blueshirtgroup.com

Tuesday, January 27th, 2015 Uncategorized Comments Off on (USAT) Announces Support for Apple Pay

(SYRX) Can Privacy and Security Coexist During the Internet of Things Era?

As the number of devices connected to the Internet continues to grow exponentially, concerns about security and privacy are growing, too. As part of an international effort to raise awareness and education on the new challenges in protecting privacy and controlling one’s digital footprint, Cleve Adams, CEO of cybersecurity firm AirPatrol Corporation, will join CyberTECH and Securing Our eCity to host a security panel at Data Privacy Day, January 28, 2015 at the SDG&E Energy Innovation Center in San Diego, CA.

“During this age of the interconnection of all devices, trust is an interesting concept. Users are okay with some companies having their data, but absolutely do not want others or the government to have access to it,” Adams said. “Questions are arising about the privacy and security we give up with each device, but it doesn’t need to be that way.”

Adams has an extensive security background and has held a number of leadership roles dating back to the 1990’s including his role as a founding executive at cybersecurity pioneer, Websense. He will moderate the 3:30pm panel “Security, Privacy, and Trust in IoT Platforms.” Panelist speakers will include Charles Brooks (Xerox), Mike Coomes (Department of Defense), Lance Cottrell (Ntrepid), Alex Goryachev (Cisco), and Ted Harrington (Independent Security Evaluators). Register here: http://cybertechnetwork.org/specialevents/.

“The more that devices know about the user and what’s happening nearby, the better they can operate,” Adams said. “As a person’s private habits and information become part of the big data ecosystem, there is also a growing risk of data leaks and unintended consequences. I look forward to the opportunity to have a discussion with other thought leaders on how we can improve our world via the Internet of Things without completely surrendering our privacy and data security,” he said.

About AirPatrol

AirPatrol, a wholly-owned subsidiary of Sysorex Global Holdings Corp., is a developer of mobile device identification and locationing systems. Its flagship product, ZoneDefense, is a security platform for wireless and cellular networks that can detect, monitor and manage the behavior of smartphones, tablets, laptops and other mobile devices based on their location. AirPatrol also offers a business-to-consumer platform called ZoneAware that allows retailers, resort owners, consumer firms and others to deliver custom content and services based on a mobile device’s location. Headquartered near Washington, D.C., AirPatrol has regional offices in San Diego, California, Vancouver, Canada, Sydney, Australia and Sao Paulo, Brazil. AirPatrol customers include numerous government and military agencies and large enterprises around the globe. For more information on AirPatrol Corporation and its products, call 410-290-3446, email: ledwards@airpatrolcorp.com or visit www.airpatrolcorp.com.

About Sysorex Global Holdings Corp.

Through focused, custom technology solutions, Sysorex (NASDAQ:SYRX) provides cyber security, data analytics, custom application development, cloud solutions, Mobile/BYOD solutions and strategic outsourcing to government and commercial clients in major industries around the world. From identifying security risks to helping clients realize value from their big data strategies, Sysorex has the experience, technology, partners, and agility to be your trusted IT partner. Visit www.sysorex.com, follow @SysorexGlobal and Like us on Facebook.

Safe Harbor Statement

All statements in this release that are not based on historical fact are “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of the registrant and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of global economic conditions, the performance of management and employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic and current reports available for review at www.sec.gov. Furthermore, we operate in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements.

 

AirPatrol:
Lauren Edwards, +1 410-290-3446
ledwards@airpatrolcorp.com
or
Sysorex Investor Relations:
CorProminence LLC
Scott Arnold, +1 516-222-2560
Managing Director
www.corprominence.com

Tuesday, January 27th, 2015 Uncategorized Comments Off on (SYRX) Can Privacy and Security Coexist During the Internet of Things Era?