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HOUSTON, Aug. 30, 2016 — EV Energy Partners, L.P. (Nasdaq:EVEP) announced that its unitholders approved the 2016 Long Term Incentive Plan and the ratification of Deloitte & Touche LLP as EVEP’s independent registered public accounting firm for the fiscal year ending December 31, 2016 during a special meeting of the Partnership’s unitholders.
A quorum at the special meeting required the presence, either in person or by proxy, of a majority of all the Partnership’s outstanding units as of the record of date of July 7, 2016. Approximately 38.7 million or 79% percent of the Partnership’s outstanding units participated in the special meeting.
About EV Energy Partners, L.P.
EV Energy Partners, L.P. is a Houston based master limited partnership engaged in acquiring, producing and developing oil and natural gas properties. More information about EVEP is available on the Internet at www.evenergypartners.com.
(code #: EVEP/G)
EV Energy Partners, L.P., Houston
Nicholas Bobrowski
713-651-1144
http://www.evenergypartners.com
SAN DIEGO, CA–(August 30, 2016) – National Research Corporation (NRC) (NASDAQ: NRCIA) (NASDAQ: NRCIB) is proud to announce the 2016 Excellence, Dimension, and Improvement Best Practice Award winners. The winners were recognized at awards presentations throughout the 22nd Annual NRC Picker Patient-Centered Care Symposium, August 28-30 in San Diego.
Twenty-nine NRC clients received the Excellence Award. The award recipients were selected based on their achievement status within categories that patients have identified as being most important to the quality of their care. The award is only bestowed upon those organizations that are ranked by patients as being a top performer in one of the following categories: Overall Hospital Rating, Overall Provider Rating, Improvement Planner Champion, Value-Based Purchasing Champion, and Patient-Centered Care Champion. Click here to learn more about the award categories and see the winners.
In addition to the Excellence Awards, the Dimension Awards honor organizations with highest combined percentages of patients rating them positively on one of the the eight individual Dimensions of Patient-Centered Care: Access to Care, Continuity and Transition, Coordination of Care, Emotional Support, Information and Education, Involvement of Family and Friends, Physical Comfort, and Respect for Patient Preferences. The Patient Centered Care Champion represents the organization that had the highest combined rating for all eight dimensions.
Kaiser Permanente Woodland Hills Medical Center, Woodland Hills, CA received the Improvement Best Practice Award. The award is given to an organization that has demonstrated best practices resulting in significant improvements in patient-centered care and healthcare outcomes. NRC defines a best practice in patient-centered care as an innovative use of resources with documented results of significant improvement in cost, quality, patient satisfaction, and safety — all factors that affect the health of an organization and its patients.
The other top two finalists for the Improvement Best Practice Award were Sentara Williamsburg Regional Medical Center (Sentara Healthcare), Williamsburg, VA and Texas Scottish Rite Hospital for Children, Dallas, TX.
“It is always a special pleasure for us to honor the work of so many outstanding organizations making significant efforts to improve the quality of patient-centered care. The Symposium Excellence Awards recognize the work of so many people, all focusing on what matters most to those they serve,” said Helen Hrdy, Senior Vice President of Client Service at NRC.
About Symposium
The NRC Picker Patient-Centered Care Symposium provides an opportunity for healthcare professionals to network and share best practices related to improving the patient experience across the healthcare continuum. The event encompasses leading professional speakers, hands-on breakout sessions, and topical agenda items that cover the latest trends in healthcare.
About National Research Corporation
For 35 years, National Research Corporation (NASDAQ: NRCIA) (NASDAQ: NRCIB) has been at the forefront of patient-centered care. Today, the company’s focus on empowering customer-centric healthcare across the continuum extends patient-centered care to incorporate families, communities, employees, senior housing residents, and other stakeholders.
For more information call 800-388-4264, write to info@nationalresearch.com, or visit www.nationalresearch.com.
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LINCOLN, NE–(August 30, 2016) – National Research Corporation (NASDAQ: NRCIA) (NASDAQ: NRCIB) today announced that its Board of Directors has declared a quarterly cash dividend of $0.08 (eight cents) per Class A share and $.48 (forty-eight cents) per Class B share payable Friday, October 14, 2016, to shareholders of record as of the close of business on Friday, September 30, 2016.
For more than 35 years, National Research Corporation has been at the forefront of patient-centered care, helping healthcare providers measure and improve quality and services through analytics that offer a rich understanding of customers’ experiences, preferences, risks and behaviors across the healthcare continuum.
Contact:
Kevin R. Karas
Chief Financial Officer
402-475-2525
NEWTON, Mass., Aug. 30, 2016 — Karyopharm Therapeutics Inc. (Nasdaq:KPTI), a clinical-stage pharmaceutical company, today announced it will provide an overview of top-line results from its Phase 2b STORM study and the planned development path for selinexor (KPT-330) in multiple myeloma (MM) on Tuesday, September 6, 2016, followed by a conference call on Tuesday, September 6, 2016 at 8:30 a.m., Eastern time. To access the conference call, please dial (855) 437-4406 (US) or (484) 756-4292 (international) at least five minutes prior to the start time and refer to conference ID: 74213103. Accompanying slides will be available under “Events & Presentations” in the “Investor” section of Karyopharm’s website, http://www.karyopharm.com, where an audio recording of the call will be available approximately two hours after the event.
Karyopharm today confirmed that, as had been reported on clinicaltrials.gov, it intends to expand its Phase 2b STORM study evaluating the activity of selinexor in multiple myeloma (MM) to include approximately 120 additional patients with penta-refractory MM. Patients with penta-refractory myeloma have previously received two proteasome inhibitors (PIs) (bortezomib (Velcade®) and carfilzomib (Kyprolis®)) and two immunomodulatory agents (IMiDs) (lenalidomide (Revlimid®) and pomalidomide (Pomalyst®)), and their disease is refractory to at least one PI, at least one IMiD and an anti-CD38 monoclonal antibody, such as daratumumab (Darzalex™) or isatuximab, and has progressed following their most recent therapy. Selinexor, the Company’s lead, novel, oral Selective Inhibitor of Nuclear Export / SINE™ compound, is being developed for the treatment of a variety of malignancies, including MM.
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (Nasdaq:KPTI) is a clinical-stage pharmaceutical company focused on the discovery and development of novel first-in-class drugs directed against nuclear transport and related targets for the treatment of cancer and other major diseases. Karyopharm’s SINE™ compounds function by binding with and inhibiting the nuclear export protein XPO1 (or CRM1). In addition to single-agent and combination activity against a variety of human cancers, SINE™ compounds have also shown biological activity in models of neurodegeneration, inflammation, autoimmune disease, certain viruses and wound-healing. Karyopharm, which was founded by Dr. Sharon Shacham, currently has several investigational programs in clinical or preclinical development. For more information, please visit www.karyopharm.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those regarding the therapeutic potential of and potential clinical development plans for Karyopharm’s drug candidates, including the reporting of data from such trials. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company’s current expectations. For example, there can be no guarantee that selinexor (KPT-330) will successfully complete necessary preclinical and clinical development phases or that development of selinexor will continue. Management’s expectations and, therefore, any forward-looking statements in this press release could also be affected by risks and uncertainties relating to a number of other factors, including the following: Karyopharm’s results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S. Food and Drug Administration and other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies, including with respect to the need for additional clinical studies; Karyopharm’s ability to obtain and maintain requisite regulatory approvals and to enroll patients in its clinical trials; unplanned cash requirements and expenditures; development of drug candidates by Karyopharm’s competitors for diseases in which Karyopharm is currently developing its drug candidates; and Karyopharm’s ability to obtain, maintain and enforce patent and other intellectual property protection for any drug candidates it is developing. These and other risks are described under the caption “Risk Factors” in Karyopharm’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016, which was filed with the Securities and Exchange Commission (SEC) on August 4, 2016, and in other filings that Karyopharm may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and Karyopharm expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Velcade® is a registered trademark of Takeda Pharmaceutical Company Limited
Revlimid® and Pomalyst® are registered trademarks of Celgene Corporation
Kyprolis® is a registered trademark of Onyx Pharmaceuticals, Inc.
Darzalex™ is a trademark of Janssen Biotech, Inc.
Contact:
Justin Renz
(617) 658-0574
jrenz@karyopharm.com
Gina Nugent
(617) 460-3579
nugentcomm@aol.com
Conference call and webcast today at 8:00 AM Eastern Time
SOUTH SAN FRANCISCO, Calif., Aug. 30, 2016 — Rigel Pharmaceuticals, Inc. (Nasdaq:RIGL) today announced that fostamatinib, its oral spleen tyrosine kinase (SYK) inhibitor, met the primary endpoint in the first of two double-blind studies in the FIT Phase 3 clinical program for the treatment of adult chronic/persistent immune thrombocytopenia (ITP). The study (n=76) showed that 18% of patients receiving fostamatinib achieved a stable platelet response compared to none receiving a placebo control (p=0.0261). A stable platelet response was defined as achieving greater than 50,000 platelets per uL of blood on at least four of the last six scheduled visits between weeks 14 and 24 of treatment. The results from the second FIT Phase 3 study are expected in October/November 2016.
The most frequent adverse events were gastrointestinal-related, and the safety profile of the product was consistent with prior clinical experience, and no new or unusual safety issues were discovered.
“These data demonstrate the potential benefit of fostamatinib for chronic ITP patients who are in need of new treatment options,” said Raul Rodriguez, president and chief executive officer of Rigel. “We believe that fostamatinib has significant commercial potential given that it has a unique mechanism of action that may work where other products have failed.”
“We are very encouraged by these results,” said Anne-Marie Duliege, M.D., executive vice president and chief medical officer of Rigel. “Consistent with the prior clinical study of fostamatinib in ITP, this FIT Phase 3 study demonstrated that fostamatinib provided a robust and enduring benefit for those patients who responded to the drug candidate.”
Patients who met the primary endpoint of this study typically had an increase in platelet counts to a level above 50,000/uL within the initial weeks of treatment, providing early feedback as to whether it was a viable option for treating their ITP.
In general, the clinical goal of ITP treatment is to raise platelet counts to more than 50,000/uL. Patients who met the primary endpoint in this study had their platelet counts increase from a median of 16,000/uL at baseline to a median of more than 100,000/uL at week 24, a robust response that potentially allows patients to remain above 50,000/uL more consistently.
All of the patients from this study who met the stable platelet response endpoint enrolled in the long-term, Phase 3 extension study and continued to maintain their platelet levels for months past the initial study period of 24 weeks. These data affirm similar results observed in two patients from the Rigel Phase 2 study of fostamatinib in ITP who have been taking fostamatinib for more than seven years and have maintained stable platelet levels over this extended time period.
Fostamatinib’s clinical safety profile includes more than 5,000 patient years of data across multiple autoimmune indications and has a well-defined and manageable safety profile, providing data that it may be suitable for long-term maintenance therapy in chronic ITP.
If these results are reproduced in the second Phase 3 study and are supported by the results of a planned interim analysis of the Phase 3 extension study, the company expects to submit a New Drug Application with the U.S. Food and Drug Administration in the first quarter of 2017. Further results from the FIT Phase 3 studies and long-term extension will be presented at future medical meetings.
FIT Phase 3 Program
The FIT program consists of two identical multi-center, randomized, double-blind, placebo-controlled studies of approximately 75 adult patients each. The patients have been diagnosed with persistent or chronic ITP, and have blood platelet counts consistently below 30,000/uL of blood. The patients all had experience with at least one other ITP treatment such as steroids, Rituxan, splenectomy and/or TPO mimetics. Patients were randomized in a 2:1 ratio to receive either fostamatinib or placebo twice a day to be taken for up to six months. Study subjects remained on treatment for up to 24 weeks. The primary efficacy endpoint of this program is a stable platelet response defined as achieving platelet counts at or above 50,000/uL of blood for at least four of the last six clinic visits of the study. Patients were subsequently offered to enroll in an open-label, Phase 3, long-term extension study, which is ongoing.
Fostamatinib and ITP
In patients with ITP, the immune system attacks and destroys the body’s own blood platelets, which play an active role in blood clotting and healing. There are approximately 50-60 thousand adult patients in the U.S. living with primary chronic ITP. ITP patients can suffer extraordinary bruising, bleeding and fatigue as a result of low platelet counts. Further, people suffering with chronic ITP live with increased risk of severe bleeding events that can result in serious medical complications or even death. Current therapies for ITP include steroids, blood platelet production boosters (TPOs) and splenectomy. While these treatment options can be effective in treating ITP symptoms, given the heterogeneity of the disease, each has significant limitations. It can be difficult to predict which approved treatments are going to be effective.
Fostamatinib is an oral investigational drug with a unique mechanism of action designed to inhibit SYK kinase, a key player in the immune process that leads to platelet destruction in ITP. The U.S. Food and Drug Administration has granted Orphan Drug designation to fostamatinib for the treatment of patients with ITP. Unlike other therapies that modulate the immune system in different ways or stimulate platelet production, fostamatinib may address the underlying autoimmune basis of ITP by impeding platelet destruction. Fostamatinib potentially offers a compelling addition to the treatment options available for ITP patients.
Conference Call and Webcast Presentation Today at 8:00AM Eastern Time
Rigel will hold a live conference call and webcast today at 8:00am Eastern Time (5:00am Pacific Time). Participants can access the live conference call by dialing 855-892-1489 (domestic) or 720-634-2939 (international) and using the Conference ID number 72149873.
The conference call and accompanying slide presentation will also be webcast live and can be accessed from Rigel’s website at www.rigel.com. The webcast will be archived and available for replay after the call via the Rigel website.
About Rigel (www.rigel.com)
Rigel Pharmaceuticals, Inc. is a clinical-stage biotechnology company dedicated to the discovery and development of novel, targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. Rigel’s pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company’s current clinical programs include fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase 3 clinical trials for immune thrombocytopenia (ITP); a Phase 2 clinical trial for autoimmune hemolytic anemia (AIHA); and a Phase 2 clinical trial for IgA nephropathy (IgAN). In addition, Rigel has two oncology product candidates in Phase 1 development with partners BerGenBio AS and Daiichi Sankyo.
This press release contains “forward-looking” statements, including, without limitation, statements related to Rigel’s clinical development plans, including the timing, design and nature of planned clinical trials and the timing and nature of results of those trials, as well as the potential activity of fostamatinib with respect to ITP. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “planned,” “will,” “may,” “expect,” and similar expressions are intended to identify these forward-looking statements. These forward-looking statements are based on Rigel’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward looking statements as a result of these risks and uncertainties, which include, without limitation, the availability of resources to develop Rigel’s product candidates, Rigel’s need for additional capital in the future to sufficiently fund Rigel’s operations and research, the uncertain timing of completion of and the success of clinical trials, risks associated with and Rigel’s dependence on Rigel’s corporate partnerships, as well as other risks detailed from time to time in Rigel’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-Q for the year ended June 30, 2016. Rigel does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.
Contacts:
Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com
Jessica Daitch
Chandler Chicco Agency
Phone: 917.816.6712
Email: jessica.daitch@inventivhealth.com
1. Dramatic Decrease in Prostate Cancer and
2. Major Reduction in Need For BPH Prostate Surgery
HASBROUCK HEIGHTS, N.J., Aug. 29, 2016 — Nymox Pharmaceutical Corporation (Nasdaq:NYMX) lead drug fexapotide which has been in development for over a decade and which has been tested by expert clinical trial investigative teams in over 70 distinguished clinical trial centers throughout the US, has been found after 7 years of prospective placebo controlled double blind studies of treatment of 995 U.S. men with prostate enlargement to not only show clinically meaningful and durable relief of BPH symptoms, but also to show a major reduction in the incidence of prostate cancer, compared to placebo and compared to the known and expected normal incidence of the disease. This is in stark contrast to some conventional BPH treatments in routine clinical use today which on the other hand increase prostate cancer risk, and which have many other well-known undesirable side effects such as retrograde ejaculation which is when men lose the ability to have normal orgasms.
The same clinical program conducted at the same highly regarded treatment centers under rigorous trial scrutiny and performed strictly at arms-length by top teams of clinical investigators across the country, has now also shown that the long-term blinded placebo crossover group study has resulted in an 82-95% reduction in the number of these patients who required surgery after they received crossover fexapotide in the trial, as compared to patients who did not receive fexapotide but instead received crossover conventional approved BPH treatments (p<.0001). The aim of the crossover study was to determine the clinical benefit fexapotide can provide to men who initially were double blind randomized to and received placebo, remained blinded as to their placebo treatment, and who subsequently required additional medical and/or surgical treatment. In this study long-term outcomes were determined in 391 patients who were given double blind placebo injections, which were followed by crossover to other treatments at the patients’ discretion. The numbers of blinded placebo patients who subsequently received surgical treatment during the next 2-3 years for their BPH symptoms were then prospectively analyzed.
For the long-term cancer incidence analysis, the men in the study received fexapotide or placebo for the treatment of their prostate enlargement (BPH) symptoms. All men were thoroughly evaluated at expert urological testing investigational centers to exclude any prostate cancer prior to qualifying for enrollment in the studies. The participants were enrolled at these over 70 top well-known U.S. urological investigational centers, and were followed for up to 7 years (median of 5 years) after treatment. The study analyzed all cases of prostate cancer that were subsequently diagnosed. The expected rate of new prostate cancer in the U.S. general male population in this age group is in the 5-20% range after 7 years. In the BPH population in published large trials of drugs for the prevention of prostate cancer, the incidence of new prostate cancer cases after 4-7 years has been reported in major studies to be 20-25%. The new data analysis from the Nymox fexapotide study has now shown the statistically significant and very low incidence of 1.3% for prostate cancer in this comparable fexapotide treated BPH population. By comparison, for example in a population of patients with erectile dysfunction treated with PDE5 inhibitor drugs after 4 years the rate of subsequent prostate cancer was 19.5% (and 22.7% in controls) as recently reported in a large U.S. study published in the Journal of Urology (Volume 196; 3, 2016). The quoted study was in a population of middle aged and elderly men without prostate cancer, similar to the Nymox study population.
“These results are astonishingly good. Other drug treatments and controls tested in similar studies have been associated with a prostate cancer incidence 10 times higher than the results reported by Nymox for fexapotide. This is truly good news. The data strongly indicate that in addition to benefit for BPH symptoms, fexapotide will also help to prevent cancer in these patients,” said Dr. Ronald Tutrone, one of the Principal Investigators in the Nymox Fexapotide Prostate Cancer and BPH studies. Dr. Tutrone is Chief of the Division of Urology, Greater Baltimore Medical Center; Medical Director of Chesapeake Urology Research Associates and Chairman of the William E. Kalhert Endowment for Urological Research.
“These exciting results from this long-term prospective analysis confirm what I and other researchers have consistently seen in the clinic — that it is obvious that fexapotide greatly helps patients in terms of symptomatic benefit for their BPH; and with these results, the clinical benefit also results in much less need for surgical intervention over the long-term. I believe these clinical results, combined with previously reported incidence and progression of prostate cancer in this patient population are truly important. Furthermore, the extreme safety of this new drug and the lack of sexual side effects are remarkably helpful for patients,” said Dr. Mo Bidair, Medical Director of San Diego Clinical Trials in San Diego, CA and an Investigator who has participated for many years in the Fexapotide Clinical Trials.
Clinical trial results from Nymox’s Phase 2 clinical program for fexapotide previously have been promptly and frequently reported at large national and international urology meetings, after the completion of the studies. There were peer review publications and over 12 well attended presentations to the AUA and EAU as soon as the Phase 2 data was available. The Company now greatly looks forward to publication of the results and to the upcoming presentations of completed Phase 3 data at national and international medical conferences at the appropriate time.
Dr. Paul Averback, CEO of Nymox said, “The new results now add a third dimension to fexapotide utility: clinical prostate cancer prevention. The drug has now demonstrated statistically significant prospective long-term outcome data showing dramatic reduction in the incidence of newly diagnosed prostate cancer after minimal BPH treatment with fexapotide. Nymox announced in Q3 last year that it will seek regulatory approvals for fexapotide for BPH based on the long-term BPH safety and efficacy data announced Q3 last year. We believe that the exciting new prostate cancer prevention results will add significantly to the evidence in fexapotide’s favor towards our goal of widespread major benefit for middle-aged and elderly men.”
Dr. Averback added, “These prospective study results in blinded placebo crossover patients clearly demonstrate that fexapotide reduces the long-term need for surgery by up to 82-95% compared to approved conventional BPH treatments. We are extremely grateful to the thousands of people who have been part of these clinical trials. The Company also thankfully acknowledges our shareholders for their long-term commitment that supports these studies.”
Nymox has completed and fully financed the execution of seven Phase 3 U.S. BPH (prostate enlargement) clinical protocols, including 2 prospective randomized multicenter single injection double blind clinical trials; 2 U.S. repeat injection clinical trials; and 3 U.S. blinded long-term clinical trial extension studies. In addition, a number of Phase 3 safety and clinical pharmacology studies and analyses have been completed. The Company expects to file for approvals in the next 1-2 quarters. The Company also expects to report further analyses and results when available in the near future.
Fexapotide is a safe and painless single injection treatment given in the urologist’s office. The drug is in Phase 3 for BPH and Phase 2 for prostate cancer. It has been tested in over 1700 drug and placebo treatment administrations in the U.S. As a treatment for low grade localized BPH, fexapotide shows long-term efficacy without the safety risk and side effect concerns or added cancer risk associated with currently approved BPH treatments. As a treatment for prostate cancer fexapotide was found to lead to highly statistically significant reduction in disease progression in a large 147 patient multi-year Phase 2 study of U.S. men with low grade cancer.
For more information please contact info@nymox.com or 800-936-9669.
Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Nymox, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the need for new options to treat BPH and prostate cancer, the potential of fexapotide to treat BPH and prostate cancer and the estimated timing of further developments for fexapotide. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development program, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the regulatory approval process, the timing of Nymox’s regulatory filings, Nymox’s substantial dependence on fexapotide, Nymox’s commercialization plans and efforts and other matters that could affect the availability or commercial potential of fexapotide. Nymox undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Nymox in general, see Nymox’s current and future reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the year ended December 31, 2015, and its Quarterly Reports.
Contact:
Paul Averback
Nymox Pharmaceutical Corporation
800-93NYMOX
www.nymox.com
Frazier Healthcare Partners to acquire a majority interest in Matrix Medical Network; Providence Service Corporation will maintain a significant interest and have representatives on Matrix’s Board of Director
Transaction values Matrix at $537.5 million
Providence to receive gross cash proceeds of approximately $418 million before transaction costs, taxes, and customary post-closing adjustments
STAMFORD, Conn., Aug. 29, 2016 — The Providence Service Corporation (“Providence”) (Nasdaq:PRSC) today announced it has signed a definitive subscription agreement with an affiliate of Frazier Healthcare Partners (“Frazier”), a leading private equity firm based in Seattle, pursuant to which Frazier will own a 60% equity interest in Matrix Medical Network (“Matrix”), which values Matrix at approximately $537.5 million. Following closing of the transaction, Providence will retain a 40% equity interest in Matrix and have representatives on Matrix’s Board of Directors.
“This partnership will allow us to accelerate our growth strategy into a diversified healthcare services company by leveraging our proven operational platform as the foundation,” said Walt Cooper, CEO of Matrix. “We look forward to partnering with one of the preeminent healthcare investors by utilizing their strategic relationships and broad expertise to bring care to more markets and more populations.”
“We are excited to partner with Providence to help Matrix expand its core offerings into adjacent markets and provide innovative additional services to its customers’ members,” said Ben Magnano, General Partner at Frazier. “This partnership is another successful example of Frazier’s operating partner model whereby we work with experienced executives to identify and invest in growth areas within healthcare. Brett Moraski, who is a long-tenured managed care executive and Frazier Operating Partner, helped create the opportunity for investment into Matrix in partnership with Providence. We look forward to working with the Matrix team and Brett to continue driving the future growth of the business.”
According to James Lindstrom, CEO of Providence, “After recently completing its two millionth in-home health assessment visit, we are creating this partnership with Frazier to accelerate Matrix’s growth opportunities. Partnering with Frazier is an example of how Providence seeks to work with leaders in industry domains, particularly where those partners with deep industry insight, when combined with our long-term investment perspective, can provide advantages for our clients, colleagues and shareholders. For Providence, the transaction represents a validation of the investment to date and the liquidity provides further opportunity for disciplined capital deployment.”
Strategic Partnership Overview
The strategic partnership with Frazier is expected to generate substantial strategic and operational benefits, such as:
- Positioning Matrix to accelerate growth in its chronic care management and assessment offerings;
- Providing Matrix with access to Frazier’s network and domain expertise in payor services, which can provide additional acquisition and investment opportunities for both Providence and Frazier; and
- Allowing Providence to benefit from Matrix’s enhanced earnings growth profile through its ongoing equity ownership.
The transaction, which has been approved by the Providence Board of Directors, values Matrix at $537.5 million. Providence will receive gross cash proceeds from Matrix of approximately $418 million before transaction fees, taxes, and customary post-closing adjustments while also retaining a 40% equity interest in Matrix. The cash proceeds to Providence are comprised of a new term loan fully underwritten by SunTrust Robinson Humphrey and Frazier’s subscription for a 60% equity interest. Further details can be found in the 8-K to be filed on or about August 31, 2016.
Matrix Background
Acquired by Providence in October 2014 for approximately $393 million, Matrix has strengthened its strategic value through a variety of initiatives under the Matrix and Providence leadership teams. In an effort to build a foundation for future growth, Matrix has since launched an in-home chronic care management program and expanded its in-home assessments offerings into adjacent markets. In 2015, Matrix generated $217.4 million of revenue and operating income of $22.1 million, which included $29.5 million of depreciation and amortization.
Additional Transaction Considerations
Providence intends to use a portion of the cash proceeds to repay in full its term loan and swingline credit facilities. Upon the closing of the transaction, Providence expects to have approximately $194 million of undrawn capacity on its swingline credit facilities. Based upon Providence’s anticipated outstanding debt immediately after closing of the transaction, Providence expects its annual interest expense to decrease to approximately $0.5 million per year and to be comprised primarily of undrawn revolving commitment fees.
Providence expects to recognize a pre-tax gain as a result of the transaction in the range of $125 million to $150 million in the fourth quarter of 2016. Upon closing, Providence expects to report its 40% equity interest in Matrix as an equity investment.
Subject to additional management evaluation of market and business conditions, share price and other factors and evaluation and approval by Providence’s Board of Directors, the remaining net proceeds from the transaction may be used by Providence for acquisitions, investments in the long-term development of the Company’s other businesses and the return of capital to stockholders through a share buyback program, among other uses.
The transaction is subject to satisfaction of customary closing conditions and is expected to close in the fourth quarter of 2016.
TripleTree served as financial advisor to Providence. Debevoise & Plimpton LLP served as Providence’s primary legal counsel. Goodwin & Proctor LLP served as Frazier’s primary legal counsel.
About Providence
The Providence Service Corporation is a holding company whose subsidiaries provide critical healthcare and workforce development services, comprised of non-emergency transportation services, workforce development services, legal offender rehabilitation services, health assessment services, and care management services in the United States and abroad. For more information, please visit www.prscholdings.com.
About Frazier Healthcare Partners
Founded in 1991, Frazier Healthcare Partners is a leading provider of growth capital to healthcare companies. The firm has over $2.9 billion in committed capital under management and has made investments in over 170 healthcare companies with investment types ranging from company creation and venture capital to growth buyouts and leveraged recapitalizations. Frazier’s experienced team takes an active approach to helping build portfolio companies, leveraging the team’s deep domain expertise and expansive network of healthcare executives, advisors and industry thought leaders. The firm’s Growth Buyout team invests in profitable companies focusing on healthcare services, pharmaceutical services, medical products, and related sectors. The firm’s Life Sciences team invests in therapeutics and related areas that are addressing unmet medical needs through innovation. Frazier has offices in Seattle, Washington and Menlo Park, California, and invests broadly across the United States, Canada, and Europe. Additional information about Frazier is available through its website, www.frazierhealthcare.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “demonstrate,” “expect,” “estimate,” “forecast,” “anticipate,” “should” and “likely” and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Such forward-looking statements are based on current expectations and assumptions of Providence’s management that involve a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, the timing of the closing of, and risks associated with the ability to consummate, the transaction between Providence and Frazier, the ability of Matrix to realize the anticipated benefits of the partnership between Providence and Frazier, the potential impact of the announcement of the transaction or consummation of the transaction on relationships, including with employees, customers and competitors and other risks detailed in Providence’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and subsequent filings. Providence is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.
Investor Relations Contact
Chris Brigleb – VP of Finance
(203) 816-6589
Human Longevity Inc. Study on OMNIgene®Ÿ GUT Recently Published in Scientific Reports
BETHLEHEM, Pa., Aug. 29, 2016 — OraSure Technologies, Inc. (NASDAQ:OSUR) announced today that a study conducted by Human Longevity, Inc. (HLI) and published in the Journal Scientific Reports (Nature Publishing Group) on August 25, 2016 proposes the use of the OMNIgene•GUT microbiome sample collection and stabilization device sold by OraSure’s wholly-owned subsidiary, DNA Genotek Inc., in global microbiome studies. The published report can be found online at http://www.nature.com/articles/srep31731.
Research into the human microbiome is emerging as highly informative to our overall understanding of health and disease risk. The article discusses the need for standardization of sample collection and stabilization to ensure accurate downstream results in microbiome studies and compares OMNIgene•GUT to existing accepted methods including use of both fresh and frozen samples.
The HLI authors state: “Stabilization of biological samples is crucial for accurate analysis of microbiome data, and for comparison across studies.” They then conclude: “This stabilization and collection device (OMNIgene•GUT) allows for ambient temperature storage, automation, and ease of shipping/transfer of samples. The device permitted the same data reproducibility as with frozen samples, and yielded higher recovery of nucleic acids. Collection and stabilization of stool microbiome samples with the DNA Genotek collection device, combined with our extraction and WGS (whole genome sequencing), provides a robust, reproducible workflow that enables standardized global collection, storage, and analysis of stool for microbiome studies.”
“DNA Genotek is pleased to provide a broad spectrum of kits for nucleic acid collection and stabilization from multiple sample types to enable HLI’s extensive research into genomics and metagenomics,” said Brian Smith, Senior Vice President and General Manager, at DNA Genotek Inc. “We are also proud to offer HLI end-to-end logistics support through our custom kitting and fulfillment services. HLI is a thought leader in the field and we are honored that they have provided such positive feedback, supporting the use of our product in support of discoveries impacting global health and wellness.”
OMNIgene•GUT is an all in one system for the easy self-collection and stabilization of microbial DNA from feces/stool for gut microbiome profiling. The device allows for ambient temperature storage and transportation and provides a liquid sample to enable high throughput automation in a laboratory, offering reduced costs and increased consistency and standardization.
OMNIgene•GUT OMR-200 is available for sale in the USA, and is intended for research use only, not for use in diagnostic procedures. This product has not been approved or cleared by the U.S. Food and Drug Administration. OMNIgene•GUT OM-200 is available for sale outside the U.S. and is CE marked for in vitro diagnostic use.
About DNA Genotek
DNA Genotek Inc., a subsidiary of OraSure Technologies, Inc. (NASDAQ: OSUR), focuses on providing high-quality biological sample collection products and end-to-end services for human genomics, microbiome and infectious disease applications. The Company’s Oragene•Dx and ORAcollect•Dx product lines are the first and only FDA 510(k) cleared saliva-based DNA collection devices for in vitro diagnostic use. DNA Genotek also offers Research Use Only products to collect and preserve large amounts of DNA or RNA from multiple sample types. DNA Genotek markets its products worldwide and has a global customer base with thousands of customers in over 100 countries. For more information about DNA Genotek, visit www.dnagenotek.com.
About OraSure Technologies
OraSure Technologies is a leader in the development, manufacture and distribution of point of care diagnostic and collection devices and other technologies designed to detect or diagnose critical medical conditions. Its first-to-market, innovative products include rapid tests for the detection of antibodies to HIV and HCV on the OraQuick® platform, oral fluid sample collection, stabilization and preparation products for molecular diagnostic applications, and oral fluid laboratory tests for detecting various drugs of abuse. OraSure’s portfolio of products is sold globally to various clinical laboratories, hospitals, clinics, community-based organizations and other public health organizations, research and academic institutions, distributors, government agencies, physicians’ offices, commercial and industrial entities and consumers. The Company’s products enable healthcare providers to deliver critical information to patients, empowering them to make decisions to improve and protect their health. For more information on OraSure Technologies, please visit www.orasure.com.
Ronald H. Spair
Chief Financial Officer
610-882-1820
Investorinfo@orasure.com
Ron Ticho
SVP, Corporate Communications
484-353-1575
media@orasure.com
Novel Small Molecule Approach to Targeting Transcriptional Kinases Validates CDK12 and CDK13 Biology in Cancer
Syros Holds Exclusive Rights to Research, Develop and Commercialize This and Related Selective Small Molecule Inhibitors
Research Findings Published in Nature Chemical Biology
Syros Pharmaceuticals (NASDAQ: SYRS) announced today that research from its scientific founders validates CDK12 and CDK13, members of the transcriptional cyclin-dependent kinase family that play a critical role in regulating gene expression, as promising new drug targets for a range of aggressive and difficult-to-treat cancers. These findings were possible as a result of the discovery of a highly selective CDK12 and CDK13 inhibitor by Syros’ scientific founders and underscore the potential of Syros’ pioneering approach for understanding and drugging transcriptional targets to advance a new wave of medicines that control the expression of disease-driving genes.
The research from Nathanael Gray’s lab at Dana-Farber Cancer Institute and Richard Young’s lab at the Whitehead Institute for Biomedical Research, which was published online today in the peer-reviewed scientific journal Nature Chemical Biology (Zhang T., et al., “Covalent targeting of remote cysteine residues to develop CDK12 and CDK13 inhibitors”), shows that inhibiting CDK12 and CDK13 with a small molecule selectively decreases the expression of DNA damage response genes and super-enhancer associated transcription factors implicated in cancer, including acute leukemia and breast and ovarian cancers. The results suggest that a selective CDK12 and CDK13 inhibitor could be effective as a monotherapy in certain cancers and as a combination therapy in other cancers by increasing their susceptibility to targeted therapies involved in DNA damage repair such as PARP1 inhibitors.
Transcriptional kinases have been historically difficult to drug selectively, and the absence of selective CDK12 and CDK13 inhibitors has hindered the ability to study the consequences of inhibiting them in healthy and cancerous cells. Using a novel chemistry approach, Syros’ scientific founders designed the first selective CDK12 and CDK13 inhibitors. This novel class of inhibitors achieves its selectivity in part by covalently, or irreversibly, binding to a cysteine residue near the kinase domain that is unique to some transcriptional kinases. This approach was first used to create SY-1365, Syros’ first-in-class selective CDK7 inhibitor, which is on track to begin a Phase 1/2 trial in the first half of 2017.
Syros holds all research, development and commercial rights to the research compound described in the paper, as well as related compounds, through both ownership of the intellectual property and a license from Dana-Farber. Syros is leveraging its unique expertise in drugging transcriptional kinases to create selective CDK12 and CDK13 inhibitors suitable for clinical development.
“A key focus of our proprietary gene control platform is understanding and drugging transcriptional targets, including transcriptional kinases. By modulating these targets with small molecules, we aim to control the expression of the critical set of genes driving the disease with a single drug,” said Eric Olson, Ph.D., Syros’ Chief Scientific Officer. “These findings provide further evidence of the therapeutic potential of selectively inhibiting transcriptional kinases as a promising approach for treating a range of aggressive cancers. Building on the work of our founders, as well as our success in creating SY-1365, we believe we are uniquely positioned to create selective inhibitors of CDK12 and CDK13 that can achieve a therapeutic benefit without the toxicities associated with less selective CDK inhibitors.”
Selectivity has proven critical in targeting the CDK family. While pan-CDK inhibitors have shown anti-tumor activity, their clinical utility has been limited due to their toxic effect on blood cells. By contrast, Syros’ selective CDK7 inhibitor SY-1365 has been shown to induce tumor regression and prolong survival in preclinical models of acute leukemia, while having minimal effect on blood cells counts, demonstrating a more favorable profile than a non-selective CDK inhibitor.
About Syros Pharmaceuticals
Syros Pharmaceuticals is pioneering the understanding of the non-coding region of the genome to advance a new wave of medicines that control expression of disease-driving genes. Syros has built a proprietary platform to systematically and efficiently analyze this unexploited region of DNA in human disease tissue to identify and drug novel targets linked to genomically defined patient populations. Because gene expression is fundamental to the function of all cells, the Company’s gene control platform has broad potential to achieve profound and durable benefit across a range of diseases. Syros is focused on cancer and immune-mediated diseases and is advancing a growing pipeline, including its lead drug candidates SY-1425, a selective RARα agonist for genomically defined subsets of patients identified by its platform, for a range of cancers including acute myeloid leukemia and myelodysplastic syndrome, and SY-1365, a selective CDK7 inhibitor for a range of blood cancers and solid tumors. Led by a team with deep experience in drug discovery, development and commercialization, Syros is located in Cambridge, Mass.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including without limitation statements by the Company regarding: progress in its clinical development of SY-1365; its drug development strategies; its plans to develop CDK inhibitors and the potential safety and efficacy profile of such inhibitors; and the potential benefits of the Company’s gene control platform. The words ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘target,’’ ‘‘should,’’ ‘‘would,’’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including: Syros’ ability to: advance the development of its programs, including SY-1425 and SY-1365, under the timelines it projects in current and future clinical trials; obtain and maintain patent protection for its drug candidates and the freedom to operate under third party intellectual property; demonstrate in any current and future clinical trials the requisite safety, efficacy and combinability of its drug candidates; obtain and maintain necessary regulatory approvals; identify, enter into and maintain collaboration agreements with third-parties; manage competition; manage expenses; raise the substantial additional capital needed to achieve its business objectives; and successfully execute on its business strategies; risks described under the caption “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016, which is on file with the Securities and Exchange Commission; and risks described in other filings that the Company makes with the Securities and Exchange Commission in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.
Media Contact:
Syros Pharmaceuticals
Naomi Aoki, 617-283-4298
naoki@syros.com
or
Investor Contact:
Stern Investor Relations, Inc.
Jesse Baumgartner, 212-362-1200
Jesse@sternir.com
Combined company to advance Leap’s two first-in-class immuno-oncology monoclonal antibodies targeting aggressive cancers
CAMBRIDGE, Massachusetts and PETACH TIKVA, Israel, August 29, 2016 —
Leap Therapeutics, Inc., a clinical stage immuno-oncology company, and Macrocure Ltd. (NASDAQ: MCUR) today announced the signing of a definitive merger agreement. Under the terms of the agreement, Macrocure will become a wholly owned subsidiary of Leap, and Leap will become a public company. In connection with the transaction, Leap will apply to have the shares of the combined entity listed for trading on NASDAQ upon completion of the merger.
Under the terms of the agreement, Macrocure shareholders will exchange their Macrocure shares for newly issued shares of Leap common stock. In addition, existing Leap investors, including entities affiliated with HealthCare Ventures, have committed to invest an additional $10 million at the closing of the transaction. On a pro forma basis, after giving effect to the merger and the investment, Macrocure equity holders are expected collectively to own approximately 31.8%, and Leap equity holders are expected collectively to own approximately 68.2%, of the combined company, subject to certain possible adjustments based on Macrocure’s net cash level at closing. Existing Leap shareholders will receive the right to a royalty, under certain circumstances, based on future net sales. The combined company is expected to have a minimum of $30 million of cash at closing to finance future operations.
“The combination with Macrocure positions our organization as a leading immuno-oncology company with sufficient capital to advance our pipeline of first-in-class monoclonal antibodies through significant value-creating events,” commented Christopher K. Mirabelli, PhD, CEO of Leap. “Importantly, we anticipate achieving substantial clinical milestones over the course of 2016 and 2017. We plan to present data and initiate randomized studies for DKN-01, our lead development candidate, which has demonstrated clinical activity in esophageal cancer and cholangiocarcinoma when combined with chemotherapy; and we expect to report data from a repeat-dose study of TRX518, a novel GITR agonist monoclonal antibody which is believed to enhance an immune anti-tumor response.”
“After careful review of many alternatives, the executive team and Board of Directors of Macrocure believe this transaction provides great potential for our shareholders,” said Nissim Mashiach, President and Chief Executive Officer of Macrocure Ltd. “Leap Therapeutics has a maturing pipeline of novel drug candidates focused on key immuno-oncology targets that are designed to provide new and valuable treatment options for patients suffering from aggressive cancers. Furthermore, Leap’s experienced management team has a track record relating to public and private companies and drug development success.”
The executive team of Leap Therapeutics will remain in their positions in the combined entity that will be based out of Leap Therapeutics’ current corporate office in Cambridge, Massachusetts. The combined entity’s leadership team will consist of Christopher K. Mirabelli, PhD, who will serve as Chief Executive Officer and Chairman of the Board of Directors, Augustine Lawlor as Chief Operating Officer, and Douglas E. Onsi as Chief Financial Officer. At the closing, two Macrocure designated individuals, including Nissim Mashiach, will join Leap’s Board of Directors.
The Board of Directors of both companies have unanimously approved the proposed merger. Macrocure’s shareholders who hold approximately 51% of Macrocure’s voting shares, have entered into agreements in support of the proposed transaction. While these agreements assure the approval of the merger, all Macrocure shareholders will be asked to vote on the merger at a meeting of shareholders. Additionally, entities affiliated with HealthCare Ventures and Eli Lilly, which own all of Leap’s outstanding voting shares, have entered into agreements in support of the proposed transaction. The transaction is expected to close near year-end, subject to shareholder approval and other customary closing conditions which are set forth in the merger agreement.
Raymond James is serving as exclusive financial advisor to Macrocure Ltd.
Leap expects to file a registration statement on Form S-4 with the U.S. Securities and Exchange Commission to register the shares of common stock to be issued in the merger. The registration statement will contain more detailed information about the transaction, as well as information about the respective companies. In addition, Macrocure expects to file a current report on Form 6-K shortly regarding the transaction. Macrocure also will be mailing a proxy statement to its shareholders, which will be filed on a current report on Form 6-K and attached as an appendix to Leap’s Form S-4 registration statement.
About DKN-01
DKN-01 is a humanized monoclonal IgG4 monoclonal antibody with neutralizing activity against the Dickkopf-1 protein. DKN-01 is currently being studied in clinical trials in esophageal cancer and cholangiocarcinoma. DKN-01 demonstrated clinical activity as a single agent in patients with non-small cell lung cancer in a Phase 1 dose escalation study that was presented at the American Society for Clinical Oncology (ASCO) 2014 Annual Meeting and in combination with paclitaxel in patients with esophageal cancer in a study that was presented at the European Society for Medical Oncology (ESMO) World GI Congress in 2016. Additional data from the study of DKN-01 plus the combination of gemcitabine and cisplatin in patients with cholangiocarcinoma will be presented at the ESMO Annual Meeting in October 2016.
About TRX518
TRX518 is a humanized aglycosyl IgG1 monoclonal antibody with agonist activity targeting GITR. TRX518 has been shown to bind and activate GITR through bivalent binding to the receptor. TRX518 was engineered to remove Fc-receptor interactions to prevent complement-mediated cytolysis and antibody-mediated depletion of leukocytes expressing GITR. TRX518 surrogate antibodies have been effective in preclinical animal models, prolonging survival or enhancing immune responses when combined with chemotherapeutics and checkpoint inhibitors. Initial clinical data on TRX518 was presented at the ASCO 2016 Annual Meeting.
About Leap Therapeutics
Leap Therapeutics is an immuno-oncology company with two clinical stage programs. Leap’s most advanced clinical candidate, DKN-01, is a humanized monoclonal antibody targeting the Dickkopf-1 (DKK1) protein. DKN-01 is in clinical trials in esophageal cancer and cholangiocarcinoma. Leap’s second clinical candidate, TRX518, is a novel, humanized GITR agonist monoclonal antibody designed to enhance the immune system’s anti-tumor response. TRX518 is in clinical trials in patients with advanced solid tumors. For more information about Leap Therapeutics, please visit http://www.leaptx.com .
About Macrocure Ltd.
Macrocure Ltd. is a clinical-stage biotechnology company that was focused on developing a novel therapeutic platform to address chronic and hard-to-heal wounds. For more information, please visit www.macrocure.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements that are not historical facts, such as statements regarding assumptions and results related to financial results, forecasts, clinical trials, and regulatory authorizations. Words such as “will,” “expect,” “anticipate,” “plan,” “believe,” “design,” “may,” “future,” “estimate,” “predict,” “objective,” “goal,” or variations thereof and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are based on Macrocure’s and/or Leap’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties, and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, the expected timing and likelihood of completion of the proposed merger, the occurrence of any event, change, or other circumstance that could result in the termination of the merger agreement or the anticipated financing, receipt and timing of any required governmental or regulatory approvals relating to the registration and listing of Leap’s common stock or otherwise relating to the merger, the anticipated amount needed to finance the combined company’s future operations, unexpected results of clinical trials, delays or denial in regulatory approval process, or additional competition in the market. The forward-looking statements made herein speak only as of the date of this release and Macrocure and Leap undertake no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the proposed Merger or otherwise. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
In connection with the proposed merger, Leap intends to file with the U.S. Securities and Exchange Commission (SEC) a registration statement on Form S-4 containing a prospectus and other relevant documents relating to the proposed merger and combined company. Macrocure intends to file a current report on Form 6-K containing its proxy statement and other documents relating to the proposed merger. This communication is not a substitution for the registration statement, final prospectus, proxy statement, or any other documents that Leap and Macrocure may file with the SEC or send to shareholders in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROSPECTUS, THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED, OR TO BE FILED, WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT LEAP, MACROCURE, AND THE PROPOSED MERGER. Investors and security holders will be able to obtain free copies of the registration statement, the prospectus, the proxy statement, and any other documents filed by Leap and Macrocure with the SEC (when available) at the SEC’s website at www.sec.gov. Copies of documents filed by Leap may be obtained for free by contacting Leap Investor Relations by mail at Leap Therapeutics, Inc., 47 Thorndike Street, Suite B1-1, Cambridge, MA 02141, Attention: Investor Relations or by telephone at (617)-714-0360. Copies of documents filed by Macrocure may be obtained for free by contacting Macrocure Investor Relations by mail at Macrocure Ltd., 25 Hasivim Street, Kiryat Matalon, Petach Tikva 4959383, Israel, Attention: Investor Relations, by telephone at +(972)-54-565-6011, or by going to Macrocure’s Investor Relations page at http://investor.macrocure.com/. The contents of Macrocure’s website are not deemed to be incorporated by reference into the registration statement, the prospectus, or the proxy statement.
Leap Therapeutics Contact
Douglas E. Onsi, Chief Financial Officer
donsi@leaptx.com
+1-617-714-0360
Macrocure Ltd. Contact
Shai Lankry, Chief Financial Officer
Shai@macrocure.com
+972-54-565-6011
PHILADELPHIA, Aug. 29, 2016 — Hemispherx Biopharma, Inc. (NYSE MKT:HEB) (the “Company” or “Hemispherx”), announced that it will present at CHI’s 4th Annual Immuno-Oncology Summit, August 29 through September 2, 2016 in Boston, MA. Dr. Christopher Nicodemus of Hemispherx’ Scientific Advisory Board will present the presentation entitled “RINTATOLIMOD: Enhancement of immune responses with a well-tolerated selective TLR3 agonist. The potential for I-O combination.”
Dr. David Strayer, Hemispherx’ Chief Scientific Officer, stated, “The next major advance in immuno-oncology will be the use of combinations of drugs that favor the immune system to respond to checkpoint inhibition and improve upon the unprecedented results being recorded with this class of therapy. We believe that Ampligen as a selective stimulator of innate and adaptive immune responses and modulator of the tumor micro-environment may play an important part in this emerging chapter in immuno-oncology.”
About Hemispherx Biopharma
Hemispherx Biopharma, Inc. is an advanced specialty pharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of seriously debilitating disorders. Hemispherx’s flagship products include Alferon N Injection® and the experimental therapeutics rintatolimod (tradenames Ampligen® or Rintamod®) and Alferon® LDO. Rintatolimod is an experimental RNA nucleic acid being developed for globally important debilitating diseases and disorders of the immune system, including Chronic Fatigue Syndrome. Hemispherx’s platform technology includes components for potential treatment of various severely debilitating and life threatening diseases. Because both rintatolimod and Alferon® LDO are experimental in nature, they are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials. Hemispherx has patents comprising its core intellectual property estate and a fully commercialized product (Alferon N Injection®), approved for sale in the U.S. and Argentina. The Company’s Alferon N approval in Argentina includes the use of Alferon N Injection (under the pending brand name “Naturaferon”) for use in any patients who fail or become intolerant to recombinant interferon, including patients with chronic active hepatitis C infection. The Company wholly owns and exclusively operates a GMP certified manufacturing facility in the United States for commercial products. For more information please visit www.hemispherx.net.
Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “intends,” “plans,” and similar expressions are intended to identify forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Hemispherx that any of its plans will be achieved. These forward-looking statements are neither promises nor guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond Hemispherx’s control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Examples of such risks and uncertainties include those set forth in the Disclosure Notice, below, as well as the risks described in Hemispherx’s filings with the Securities and Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Hemispherx undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise revise or update this release to reflect events or circumstances after the date hereof.
Disclosure Notice
The information in this press release includes certain “forward-looking” statements including without limitation statements about additional steps which the FDA may require and Hemispherx may take in continuing to seek commercial approval of the Ampligen® NDA for the treatment of Chronic Fatigue Syndrome in the United States. The final results of these and other ongoing activities could vary materially from Hemispherx’s expectations and could adversely affect the chances for approval of the Ampligen® NDA in the United States and other countries. The clinical studies referenced herein have been previously reviewed by the FDA and are not, in and of themselves, a sufficient basis for approval in the United States. Any failure to satisfy the FDA regulatory requirements or the requirements of other countries could significantly delay, or preclude outright, approval of the Ampligen® NDA in the United States and other countries.
Information contained in this news release, other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties including, but not limited to, general industry conditions and competition; general economic factors; the Company’s ability to adequately fund its projects; the impact of pharmaceutical industry regulation and healthcare legislation in the United States and internationally; trends toward healthcare cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the Company’s ability to accurately predict the future market conditions; manufacturing difficulties or delays; dependence on the effectiveness of the Company’s patents and other protections for products; and the exposure to litigation, including patent litigation, and/or regulatory actions; and numerous other factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. The final results of these efforts and/or any other activities could vary materially from Hemispherx’s expectations. Approval of Ampligen® for CFS in the Argentine Republic does not in any way suggest that the Ampligen® NDA in the United States will obtain commercial approval. Also, it is noted that ANMAT approval is only an initial, but important, step in the overall successful commercialization. Namely, additional steps required for commercialization in Argentina will require, among others, an appropriate reimbursement level, appropriate marketing strategies, completion of manufacturing preparations for launch including possible requirements for approval of final manufacturing, etc., and there are no assurances as to whether or when such multiple subsequent steps will be successfully performed to result in an overall successful commercialization and product launch.
Company/Investor Contact:
Charles Jones
CJones & Associates Public Relations
888-557-6480
cjones@cjonespr.com
LOS ANGELES, Aug. 26, 2016 — Reed’s, Inc. (NYSE MKT:REED), the leading maker of craft sodas nationwide, today announced that it has been notified by the New York Stock Exchange (“NYSE”) that it reviewed the Company’s July 20, 2016 plan and determined to accept the plan and grant a plan period through December 22, 2017.
The Company previously announced on June 28, 2016, that it received a notice from the NYSE that the company’s common stock was not in compliance with the NYSE’s continued listing standard and did not satisfy the listing requirements in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE MKT Company Guidance since it reported a stockholders’ deficit of $(581,000) as of March 31, 2016 and net losses in its five most recent fiscal years ended December 31, 2015.
ABOUT REEDS
Reed’s, Inc. makes the top-selling sodas in the natural and specialty foods industry and are sold in over 15,000 natural and mainstream supermarkets nationwide. Reed’s products are sold through an additional estimated 40,000 accounts that include specialty gourmet, natural food stores, retail stores, convenience stores and restaurants nationwide and in select international markets. Reed’s has sold over 500 million bottles since inception in June 1989 and is considered the leader of the fast growing craft soda category. Its seven award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks. The Company owns the top-selling root beer line in natural foods, the Virgil’s Root Beer product line, and a top-selling cola line in natural foods, the China Cola product line. In 2012, the Company launched its Reed’s Culture Club Kombucha line of organic live beverages. Other product lines include Reed’s Ginger Candies and Reed’s Ginger Ice Creams.
For more information about Reed’s, please visit the Company’s website at: http://www.reedsinc.com or call 800-99-REEDS.
Follow Reed’s on Twitter at http://twitter.com/reedsgingerbrew
Reed’s Facebook Fan Page at https://www.facebook.com/ReedsGingerBrew
SAFE HARBOR STATEMENT
Some portions of this press release, particularly those describing Reed’s goals and strategies, contain “forward-looking statements.” These forward-looking statements can generally be identified as such because the context of the statement will include words, such as “expects,” “should,” “believes,” “anticipates” or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. While Reed’s is working to achieve those goals and strategies, actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include difficulty in marketing its products and services, maintaining and protecting brand recognition, the need for significant capital, dependence on third party distributors, dependence on third party brewers, increasing costs of fuel and freight, protection of intellectual property, competition and other factors, any of which could have an adverse effect on the business plans of Reed’s, its reputation in the industry or its expected financial return from operations and results of operations. In light of significant risks and uncertainties inherent in forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by Reed’s that they will achieve such forward-looking statements. For further details and a discussion of these and other risks and uncertainties, please see our most recent reports on Form 10-K and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time to time. Reed’s undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Reed's, Inc.
Investor Relations
(310) 217-9400 ext. 18
Email: ir@reedsinc.com
www.reedsinc.com
BETHESDA, Md., Aug. 26, 2016 — TerraForm Global, Inc. (Nasdaq:GLBL) (the “Company”), a global owner and operator of clean energy power plants, today announced that its subsidiary TerraForm Global Operating, LLC (“TerraForm Global”) has launched the solicitation of consents (the “Consent Solicitation”) from holders of record as of 5:00 p.m., New York City time, on August 25, 2016 (the “Record Date”) of its 9.75% Senior Notes due 2022 (the “Notes”) to obtain waivers (the “Proposed Waiver”) relating to certain reporting covenants under the indenture dated as of August 5, 2015 (as supplemented, the “Indenture”), among TerraForm Global, as issuer, the Guarantors party thereto and U.S. Bank National Association, as trustee, and to effectuate certain amendments to the Indenture (the “Proposed Amendments” and, together with the Proposed Waiver, the “Proposed Waiver and Amendments”).
The Proposed Waiver would waive (i) any and all Defaults or Events of Default (as such terms are defined in the Indenture) existing as of the Waiver Effectiveness Date (as described below and in the Consent Solicitation Statement), and the consequences thereof, with respect to any failure to comply with the Indenture, the Notes or the Note Guarantees (as defined in the Indenture) that may have occurred, directly or indirectly, as a result of, arising from, relating to or in connection with a failure to comply with the covenants set forth in Section 4.03 of the Indenture other than those under Section 4.03(a)(3) thereof relating to current reports on Form 8-K (such covenants, other than those under Section 4.03(a)(3) thereof, being referred to herein as the “Annual and Quarterly Reporting Covenants”) and (ii) compliance with the Annual and Quarterly Reporting Covenants, in each case from the Waiver Effectiveness Date until 5:00 p.m., New York City time, on December 6, 2016 (such time and date, the “Waiver Expiration Date”), if TerraForm Global has not, by the Waiver Effectiveness Date, filed with the Securities and Exchange Commission (the “SEC”) or made publicly available all annual and quarterly reports that would have been required to be so filed or made publicly available pursuant to the Annual and Quarterly Reporting Covenants and cured each Default or Event of Default in connection therewith.
The Consent Solicitation will expire at 5:00 p.m., New York City time, on September 1, 2016, unless extended or earlier terminated by TerraForm Global in its sole discretion (the “Consent Date”).
TerraForm Global’s obligation to accept consents, pay the Consent Fee (as defined below) and effect the Proposed Amendments is conditioned on, among other things, there being validly delivered and unrevoked consents from the Holders of not less than a majority in aggregate principal amount of the Notes and the Proposed Waiver having become effective under the Indenture, simultaneously with payment of such Consent Fee and effectuation of such Proposed Amendments (the “Requisite Consents”). TerraForm Global is offering each Holder that consents (a “Consenting Holder”) to the Proposed Waiver and Amendments a consent fee (the “Consent Fee”) of $5.00 per $1,000 principal amount of the Notes held by such Holder as to which TerraForm Global receives and accepts consents. If the Requisite Consents are received by the Consent Date, TerraForm Global will be deemed to have accepted the consents if, as and when it pays the Consent Fee in respect thereof, at which time the Proposed Waiver and Amendments will become effective. The date and time at which the Proposed Waiver will become effective is referred to as the Waiver Effectiveness Date.
In addition, under the Proposed Waiver, in the event that (x) TerraForm Global, Inc. (the “Company”) publicly announces at any time an M&A Transaction that has been approved by the Board of Directors of the Company and (y) such M&A Transaction includes an offer by TerraForm Global (or one of its affiliates) or a potential acquiror (or one of its affiliates) to each Holder (as defined in the Indenture) of the Notes to repurchase all of that Holder’s Notes at a purchase price in cash at least equal to 101% of the aggregate principal amount of such Notes repurchased, plus accrued and unpaid interest, if any, on such Notes repurchased to the date of repurchase (such an offer, a “Repurchase Offer”), compliance with the Annual and Quarterly Reporting Covenants will be suspended beginning on the date of such public announcement and the Proposed Waiver will continue in full force and effect regardless of the Waiver Expiration Date; provided that such suspension of compliance with the Annual and Quarterly Reporting Covenants shall cease on the date that is six months following the date of such public announcement if such M&A Transaction (or any other M&A Transaction meeting the requirements of the preceding clause (y) relating to a Repurchase Offer) has not been consummated within such six months; provided, further, that if such M&A Transaction (including such other M&A Transaction meeting the requirements of the preceding clause (y) relating to a Repurchase Offer) has been consummated within such six months (it being understood that such M&A Transaction shall have met the requirement of the preceding clause (y) relating to a Repurchase Offer), (x) any and all Defaults or Events of Default existing as of the consummation of such M&A Transaction, and the consequences thereof, with respect to any failure to comply with the Indenture, the Notes or the Note Guarantees that may have occurred, directly or indirectly, as a result of, arising from, relating to or in connection with a failure to comply with the Annual and Quarterly Reporting Covenants will be waived and (y) compliance with the Annual and Quarterly Reporting Covenants will be waived with respect to any fiscal quarter or fiscal year (other than (i) the first full fiscal quarter that begins after the consummation of such M&A Transaction and any subsequent fiscal quarter thereafter and (ii) the first full fiscal year that begins after the consummation of such M&A Transaction and any subsequent fiscal year thereafter) (it being understood that, with respect to each such fiscal period in (i) and (ii) of this clause (y), compliance with the Annual and Quarterly Reporting Covenants shall again apply).
Copies of the Consent Solicitation Statement and the Letter of Consent may be obtained by holders of the Notes from the Tabulation Agent for the Consent Solicitation, Global Bondholder Services Corporation, at (866) 794-2200.
Citigroup Global Markets Inc. is the Solicitation Agent for the Consent Solicitation. Questions regarding the Consent Solicitation may be directed to Citigroup Global Markets Inc., at (800) 558-3745 and (212) 723-6106.
None of TerraForm Global, the Tabulation Agent, the Solicitation Agent, the Trustee or any of their respective affiliates makes any recommendation as to whether holders of the Notes should deliver their consent to the Proposed Waiver pursuant to the Consent Solicitation, and no one has been authorized by any of them to make such a recommendation. Each holder of the Notes must make its own decision as to whether to give its consent.
THIS NEWS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE A SOLICITATION OF CONSENTS IN ANY JURISDICTION.
THE CONSENT SOLICITATION IS BEING MADE ONLY PURSUANT TO THE CONSENT SOLICITATION STATEMENT AND THE LETTER OF CONSENT THAT THE TABULATION AGENT WILL DISTRIBUTE TO HOLDERS OF THE NOTES. HOLDERS OF THE NOTES SHOULD CAREFULLY READ THE CONSENT SOLICITATION STATEMENT AND LETTER OF CONSENT PRIOR TO MAKING ANY DECISION WITH RESPECT TO THE CONSENT SOLICITATION, BECAUSE SUCH DOCUMENTS CONTAIN IMPORTANT INFORMATION, INCLUDING THE VARIOUS TERMS OF, AND CONDITIONS TO, THE CONSENT SOLICITATION.
About TerraForm Global
TerraForm Global is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Global creates value for its investors by owning and operating clean energy power plants in high-growth emerging markets. For more information about TerraForm Global, please visit: www.terraformglobal.com.
Contacts:
Investors:
Brett Prior
TerraForm Global
investors@terraform.com
Media:
Meaghan Repko / Joseph Sala / Nicholas Leasure
Joele Frank, Wilkinson Brimmer Katcher
media@terraform.com
(212) 355-4449
VANCOUVER, Aug. 26, 2016 – Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) announces that Guy McAree, Director of Investor Relations will present during the 2016 Gateway Conference at The Four Seasons Hotel in San Francisco on Wednesday, September 7th, 2016 at 10:00 a.m.
During his presentation, Mr. McAree will discuss Ballard’s strategic direction and recent progress within the fast-growing fuel cell and clean energy areas. He will also be available on September 7th and 8th at the conference for 1-on-1 meetings with interested investors.
About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in their fuel cell programs. To learn more about Ballard, please visit www.ballard.com.
QAD Inc. (NASDAQ: QADA) (NASDAQ: QADB), a leading provider of enterprise business software and services for global manufacturing companies, today announced that Daniel Lender, Executive Vice President and Chief Financial Officer, and Kara Bellamy, Chief Accounting Officer and Corporate Controller, will conduct one-on-one meetings with investors at the Avondale Partners 1-1 Technology/Services Conference on Wednesday, September 7 at the New York Athletic Club.
About QAD – The Effective Enterprise
QAD Inc. (Nasdaq:QADA) (Nasdaq:QADB) is a leading provider of enterprise software and services designed for global manufacturing companies. For more than 35 years, QAD has provided global manufacturing companies with QAD Enterprise Applications, an enterprise resource planning (ERP) system that supports operational requirements, including financials, manufacturing, demand and supply chain planning, customer management, business intelligence and business process management. QAD Enterprise Applications is offered in flexible deployment models in the cloud, on-premise or in a blended environment. With QAD, customers and partners in the automotive, consumer products, food and beverage, high technology, industrial products and life sciences industries can better align daily operations with their strategic goals to meet their vision of becoming more Effective Enterprises.
For more information about QAD, call +1 805-566-6000, visit www.qad.com.
“QAD” is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking statements made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the Company’s business, future economic performance or any of the assumptions underlying or relating to any of the foregoing. Forward-looking statements are based on the company’s current expectations. Words such as “expects,” “believes,” “anticipates,” “could,” “will likely result,” “estimates,” “intends,” “may,” “projects,” “should,” “would,” “might,” “plan” and variations of these words and similar expressions are intended to identify these forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to: risks associated with our cloud service offerings, such as defects and disruptions in our services, our ability to properly manage our cloud service offerings, our reliance on third-party hosting and other service providers, and our exposure to liability and loss from security breaches; demand for the company’s products, including cloud service, licenses, services and maintenance; pressure to make concessions on our pricing and changes in our pricing models; protection of our intellectual property; dependence on third-party suppliers and other third-party relationships, such as sales, services and marketing channels; changes in our revenue, earnings, operating expenses and margins; the reliability of our financial forecasts and estimates of the costs and benefits of transactions; the ability to leverage changes in technology; defects in our software products and services; third-party opinions about the company; competition in our industry; the ability to recruit and retain key personnel; delays in sales; timely and effective integration of newly acquired businesses; economic conditions in our vertical markets and worldwide; exchange rate fluctuations; and the global political environment. For a more detailed description of the risk factors associated with the company and factors that may affect our forward-looking statements, please refer to the company’s latest Annual Report on Form 10-K and, in particular, the section entitled “Risk Factors” therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter. Management does not undertake to update these forward-looking statements except as required by law.
Management Team to Discuss Record Financial Results for Fiscal 2016, M&A Opportunities and the Company’s Growth Initiatives
NEW YORK, NY–(August 26, 2016) – Staffing 360 Solutions, Inc. (NASDAQ: STAF), a public company executing a global buy-and-build strategy through the acquisition of staffing organizations in the US and UK, today announced that the Company’s financial results will be released on Monday, August 29, 2016, and its Form 10-K for the fiscal year ended May 31, 2016 will be filed the same day, followed by its earnings conference call on Wednesday, September 7, 2016 at 9:00 am Eastern Time.
Speakers will include: Brendan Flood, Executive Chairman; Matt Briand, President and Chief Executive Officer; David Faiman, Chief Financial Officer; and Darren Minton, Executive Vice President of Staffing 360 Solutions. The conference call will include a Q&A session where investors will have the opportunity to ask questions of the senior management team.
“We are looking forward to sharing our latest financial results,” stated Brendan Flood, Executive Chairman of Staffing 360 Solutions. “You’ll notice we are having our earnings call after Labor Day this year, approximately one week from our financials, to ensure that our entire management team is available to speak and conduct Q&A. This year we achieved record levels of revenue and Adjusted EBITDA, we raised $5.3 million of equity utilizing our S-3 registration statement, completed two acquisitions and we uplisted to Nasdaq, all within the past 12 months. Investors are encouraged to dial-in and learn more about our annual results, M&A opportunities and our strategic growth initiatives as we continue to achieve new milestones.”
The teleconference can be accessed by dialing 877.407.0778 within the United States, 800.756.3429 within the UK, or 201.689.8565 internationally. Please dial in 10 minutes prior to the beginning of the call. There will be a playback of the teleconference available until September 30, 2016. To listen to the playback, dial 877.481.4010 within the United States or 919.882.2331 internationally and use replay ID number: 10067.
The conference call will be simultaneously webcast and available at:
http://www.investorcalendar.com/event/175224
About Staffing 360 Solutions, Inc.
Staffing 360 Solutions, Inc. (NASDAQ: STAF) is a public company in the staffing sector engaged in the execution of a global buy-and-build strategy through the acquisition of domestic and international staffing organizations in the US and UK. The Company believes the staffing industry offers opportunities for accretive acquisitions that will drive its annual revenues to $300 million. As part of its targeted consolidation model, the Company is pursuing acquisition targets in the finance and accounting, administrative, engineering and IT staffing space. For more information, please visit: www.staffing360solutions.com.
Follow Staffing 360 Solutions on Facebook, LinkedIn and Twitter.
Forward-Looking Statements
Certain matters discussed within this press release are forward-looking statements including, but not limited to the timing and ability to enter into any additional acquisitions, as well as the size of future revenue. Although Staffing 360 Solutions, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Specifically, in order for the Company to achieve annualized revenues of $300 million, the Company will need to successfully raise sufficient capital, to consummate additional target acquisitions, successfully integrate any newly acquired companies, organically grow its business, successfully defend current and any potential future litigation, as well as various additional contingencies, many of which are unknown at this time and generally out of the Company’s control. The Company can give no assurance that it will be able to achieve these objectives. Staffing 360 Solutions does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in Staffing 360 Solutions’ reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K.
Corporate Investor Contact:
Staffing 360 Solutions, Inc.
Darren Minton
Executive Vice President
212.634.6413
Email contact
Financial Contact:
Staffing 360 Solutions, Inc.
David Faiman
Chief Financial Officer
212.634.6410
Email contact
HOUSTON, Aug. 25, 2016 — Lucas Energy, Inc. (NYSE MKT: LEI) (“Lucas” or the “Company”), an independent oil and gas company with its operations in central Texas, today announced that its wholly-owned subsidiary, CATI Operating, LLC (“CATI”), entered into an agreement with its senior lender, as evidenced by a promissory note, to borrow $1 million, effective August 15, 2016. The Company plans to use the funds to participate in the drilling and completion of certain Eagle Ford wells under a joint operating agreement with Lonestar Resources US, Inc. (“Lonestar”) and conduct improvement maintenance operations on the existing assets of CATI. The agreement with Lonestar covers over 1,450 gross acres and Lucas’ participation will vary from an 8% to a 14% working interest in the units.
“We are pleased to partner with Lonestar, a known and successful operator in the Eagle Ford, by initially participating in the Cyclone #9H and #10H wells in which CATI has a working interest of 8%,” said Anthony C. Schnur, Chief Executive Officer of Lucas Energy. “This represents another step in the growth and expansion of our assets and our company. It is anticipated that the wells will enhance our reserve portfolio and production in addition to securing the leaseholds of the locations.”
Under the terms of the note, a total of 80% of all cash flow generated by the wells is required to first be paid to satisfy amounts owed under the new and existing notes with the lender with the remaining 20% to be used by CATI for lease and other operating expenses and capital expenditures. Please refer to the Company’s Current Report on Form 8-K, filed with the SEC on August 25, 2016, for more information regarding the terms and conditions of the note and funding.
About Lucas Energy, Inc.
Based in Houston, Texas, Lucas Energy (NYSE MKT: LEI) is a growth-oriented, independent oil and gas company engaged in the development of crude oil, natural gas and natural gas liquids in the Hunton formation in Central Oklahoma and the Austin Chalk and Eagle Ford formations in South Texas.
For more information, please visit the updated Lucas Energy web site at www.lucasenergy.com.
Safe Harbor Statement and Disclaimer
This news release includes “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. Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including “may,” “expects,” “projects,” “anticipates,” “plans,” “believes,” “estimate,” “should,” and certain of the other foregoing statements may be deemed forward-looking statements. Although Lucas believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. These include risks inherent in natural gas and oil drilling and production activities, including risks of fire, explosion, blowouts, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; delays in receipt of drilling permits; risks with respect to natural gas and oil prices, a material decline which could cause Lucas to delay or suspend planned drilling operations or reduce production levels; risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in natural gas and oil prices; risks relating to unexpected adverse developments in the status of properties; risks relating to the absence or delay in receipt of government approvals or fourth party consents; and other risks described in Lucas’s Annual Report on Form 10-K and other filings with the SEC, available at the SEC’s website at www.sec.gov. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company’s SEC filings are available at http://www.sec.gov.
| Contacts: |
Carol Coale / Ken Dennard |
|
Dennard • Lascar Associates |
|
(713) 529-6600 |
MEDFORD, N.Y., Aug. 25, 2016 — Chembio Diagnostics, Inc. (Nasdaq:CEMI), a leader in point-of-care (POC) diagnostic tests for infectious diseases, today announced that it has been awarded a contract for up to $13.2 million in total funding from the U.S. Department of Health and Human Services (HHS); Office of the Assistant Secretary for Preparedness and Response; Biomedical Advanced Research and Development Authority (BARDA) for the development and commercialization of the Company’s rapid POC Zika test and Zika-related products.
The award includes an initial commitment of $5.9 million allocated specifically to the DPP® Zika IgM/IgG Assay and DPP® Micro Reader, as well as an option for an additional $7.3 million to fund the development, clinical trial and regulatory submissions related to the Company’s DPP® Zika/Chikungunya/Dengue IgM/IgG Combination Assay.
John Sperzel, Chembio’s Chief Executive Officer, commented, “We are very happy to receive this BARDA contract as it will allow the Company to further develop the DPP® Zika IgM/IgG Assays, complete key clinical trials, and complete important U.S. regulatory submissions. Given the limitations of laboratory-based Zika tests, we believe Chembio’s POC DPP® Zika IgM/IgG Assays will become essential tools in the battle against the Zika virus, which is likely to endanger millions of people, in both the U.S. and abroad in the coming years, especially pregnant women.”
The Company believes currently available genetic tests for the Zika virus have limited utility as they are accurate only during a narrow window of time between initial Zika virus exposure and the patient’s development of detectable antibodies to the virus, a process known as seroconversion. Following seroconversion, antibody tests are recommended to accurately identify Zika virus infections. The DPP® Zika IgM/IgG Assay will provide timely results, during the patient consultation. The DPP® Zika System, which includes the DPP® Zika IgM/IgG Assay and DPP® Micro Reader, detects both IgM and IgG antibodies, uses a 10uL fingerstick blood sample and provides quantitative results in 15 minutes.
The DPP® Zika/Chikungunya/Dengue IgM/IgG Combination Assay simultaneously detects IgM and IgG antibodies for Zika, Dengue and Chikungunya, uses a 10uL fingerstick blood sample and provides quantitative results in 15 minutes.
This project has been funded in whole or in part with Federal funds from the Department of Health and Human Services; Office of the Assistant Secretary for Preparedness and Response; Biomedical Advanced Research and Development Authority, under Contract No. HHSO100201600022C.
About Chembio Diagnostics
Chembio Diagnostics, Inc. develops, manufactures, licenses and markets proprietary rapid diagnostic tests in the growing $8.0 billion point-of-care testing market. Chembio markets each of its DPP® HIV 1/2 Assay, HIV 1/2 STAT-PAK® Assay, and SURE CHECK® HIV 1/2 Assay, with these Chembio brand names, in the U.S. and internationally both directly and through third-party distributors. The Company’s SURE CHECK® HIV 1/2 Assay previously has been exclusively sold in the U.S. as Clearview® Complete HIV 1/2 Assay.
Chembio has developed a patented point-of-care (POC) test platform technology, the Dual Path Platform (DPP®) technology, which has significant advantages over lateral-flow technologies. This technology is providing Chembio with a significant pipeline of business opportunities for the development and manufacture of new products.
Headquartered in Medford, NY, Chembio is licensed by the U.S. Food and Drug Administration (FDA) as well as the U.S. Department of Agriculture (USDA), and is certified for the global market under the International Standards Organization (ISO) directive 13485. Chembio Diagnostic Systems, Inc. is a wholly-owned subsidiary of Chembio Diagnostics, Inc. For more information, please visit: www.chembio.com.
Forward-Looking Statements
Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements, which are estimates only, reflect management’s current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Chembio’s ability to obtain additional financing and to obtain regulatory approvals in a timely manner, as well as the demand for Chembio’s products. Chembio undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Chembio’s expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Chembio’s success are more fully disclosed in Chembio’s most recent public filings with the U.S. Securities and Exchange Commission.
Contacts:
Chembio Diagnostics
Susan Norcott
(631) 924-1135, ext. 125
snorcott@chembio.com
Vida Strategic Partners (investor relations)
Stephanie C. Diaz
(415) 675-7401
sdiaz@vidasp.com
SUGAR LAND, Texas, Aug. 25, 2016 — Applied Optoelectronics, Inc. (NASDAQ:AAOI), a leading provider of fiber-optic access network products for the internet datacenter, cable broadband, and fiber-to-the-home markets, today announced that it has received initial orders for its market-leading 40 Gbps QSFP+ and 100 Gbps QSFP28 optical transceiver modules from a new hyper-scale datacenter customer.
“After an extensive period of product testing and qualification, we are pleased to have the opportunity to provide our industry-leading products to a new large datacenter customer. The initial orders we have received, totaling more than 10,000 transceivers of various product types, are for delivery over the next couple of quarters, and represent a compelling opportunity to develop a long-term relationship with this new customer,” said Dr. Thompson Lin, Applied Optoelectronics, Inc. founder, president and CEO. “We believe we are the market leader within our current datacenter customers and we are excited to have the opportunity to demonstrate our capabilities to this new customer as the relationship deepens over time.”
AOI’s 40 Gbps and 100 Gbps optical transceivers are predominantly deployed in intra-datacenter applications and are used for high speed switching and routing connectivity. AOI has invested over $70 million in the last four quarters on state-of-the-art production and R&D facilities to enable cost-effective, high volume production for its datacenter and CATV broadband product lines, including in-house laser diode and light engine production.
For more information about other AOI datacenter products, please contact AOI’s sales department at sales@ao-inc.com, or by telephone at 281-295-1800.
About Applied Optoelectronics
Applied Optoelectronics Inc. (AOI) is a leading developer and manufacturer of advanced optical products, including components, modules, and equipment. AOI’s products are the building blocks for broadband fiber access networks around the world, where they are used in the CATV broadband, internet datacenter, and fiber-to-the-home markets. AOI supplies optical networking lasers, components and equipment to tier-1 customers in all three of these markets. In addition to its corporate headquarters, wafer fab and advanced engineering and production facilities in Sugar Land, TX, AOI has engineering and manufacturing facilities in Taipei, Taiwan and Ningbo, China. For additional information, visit www.ao-inc.com. Applied Optoelectronics, Inc. and the related AOI logo are trademarks of Applied Optoelectronics, Inc.
Investor Relations Contacts:
The Blueshirt Group, Investor Relations
Maria Riley & Chelsea Lish
+1-415-217-7722
ir@ao-inc.com
Media Contacts:
Willis Chen
+1-281-295-1807
wchen@ao-inc.com
BEIJING, Aug. 25, 2016 — Wowo Limited (the “Company”) (NASDAQ:JMU), a leading B2B online e-commerce platform that provides integrated services to suppliers and customers in the foodservice industry in China, today announced that at an extraordinary general meeting (the “EGM”) of Xiao Nan Guo Restaurants Holdings Limited held on 24 August 2016, the acquisition of 9.82% stake in Wowo Limited for a total consideration of HK$368,396,837 (approximately US$47.5 million) was duly passed by way of poll, in which 85.57% voted for the ordinary resolution. This transaction priced the Company’s ordinary shares at HK$2.6 per share (approximately US$6.0 per American depositary share of the Company).
Xiao Nan Guo Restaurants Holdings Limited (“Xiao Nan Guo”), established in 1987, holds and operates a chain of businesses including restaurants that offer premium Chinese cuisine, western cuisine, desserts and beverages. Xiao Nan Guo was successfully listed on the Stock Exchange of Hong Kong on July 4, 2012.
With Chinese cuisine as the core business, Xiao Nan Guo adopts the strategy of restaurant chain development and has built a nationwide restaurant chain network in China. Its 29-year experience of providing premium experience to customers has made Xiao Nan Guo a leading brand of Chinese cuisine in the catering industry.
Xiao Nan Guo adopts the strategy of introducing outstanding brands for the development of its western cuisine business. By cooperating with leading international brands and exploring the Chinese market together, Xiao Nan Guo achieved significant growth in recent years.
In 2016, the top four restaurant brands of Xiao Nan Guo, namely Shanghai Min, The Dining Room, Wolfgang Puck and The BOATHOUSE opened stores in Shanghai Disney Park. The four restaurants offer a total area of over 6500 sqm, occupying 25% of catering businesses in Disneytown with a No.1 ranking among all leasees.
Under the new market environment, Xiao Nan Guo further focuses on restaurant chain industry and vertical penetration in the end-user links, by integrating offline stores and online platform resources. Xiao Nan Guo aims to build integrated service platforms in the catering industry and realize transition into a brand investment management group in the foodservice industry.
Currently, the main brands under Xiao Nao Guo include: Shanghai Min, Maison De l’Hui, The Dining Room, ORENO, Pokka Café, Wolfgang Puck, The BOATHOUSE and Michelin.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “ought to”, “plan”, “project”, “potential”, “seek”, “may”, “might”, “can”, “could”, “will”, “would”, “shall”, “should”, “is likely to” and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about JM Wowo’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as JM Wowo’s strategic and operational plans, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: The general economic and business conditions in China may deteriorate. The growth of Internet and mobile user population in China might not be as strong as expected. JM Wowo’s plan to enhance customer experience, upgrade infrastructure and increase service offerings might not be well received. JM Wowo might not be able to implement all of its strategic plans as expected. Competition in China may intensify further. All information provided in this press release is as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date, and JM Wowo does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
About JM Wowo Limited
Wowo Limited currently operates China’s leading B2B online e-commerce platform that provides integrated services to suppliers and customers in the foodservice industry. With the help of Internet and cloud technologies, the Company has the vision to reshape the procurement and distribution pattern and build a fair business ecosystem in the catering industry in China. The Company is further promoting the use of its platform for small- and medium-sized restaurants and restaurant chains in China.
Through cooperation with national and local industry associations and reputable restaurant groups across China, the Company has formed a leading industrial alliance and has great resource leverage in China’s catering industry. The Company works closely with suppliers and customers in the catering industry, providing one-stop procurement services, as well as other value-added services.
Contact:
Zhao Lichao IR Director
Wowo Limited
zhaolichao@ccjmu.com
Tel: 86-183 2119 5582
Bill Zima
ICR Inc.
bill.zima@icrinc.com
Tel: 203-682-8200
WASHINGTON, Aug. 25, 2016 — Vanda Pharmaceuticals Inc. (Vanda) (NASDAQ: VNDA) today announced that Judge Gregory M. Sleet of the United States District Court for the District of Delaware ruled that Roxane Laboratories Inc. (Roxane) infringed U.S. Patent Nos. RE39,198 (the ‘198 Patent) and 8,586,610 (the ‘610 Patent) by submitting to the FDA an ANDA seeking permission to market a generic version of Fanapt® before the expiration of Vanda’s patents.
“We are very pleased that the court found both patents valid, found that Roxane’s ANDA infringes the ‘198 patent and the ‘610 patent, and accordingly issued an injunction barring Roxane from marketing its product until the expiration of the later expiring ‘610 patent on November 2, 2027,” said Mihael H. Polymeropoulos, M.D., Vanda’s President and CEO.
About Vanda Pharmaceuticals Inc.
Vanda is a specialty pharmaceutical company focused on the development and commercialization of novel therapies to address high unmet medical needs and improve the lives of patients. For more on Vanda Pharmaceuticals, please visit www.vandapharma.com.
Fanapt® is a registered trademark of Vanda Pharmaceuticals Inc.
Corporate Contact:
Jim Kelly
Senior Vice President and Chief Financial Officer
Vanda Pharmaceuticals Inc.
(202) 734-3428
jim.kelly@vandapharma.com
Media Contact:
Laney Landsman
Group Vice President
Makovsky
(212) 508-9643
llandsman@makovsky.com
NEW YORK, Aug. 24, 2016 — TG Therapeutics, Inc. (NASDAQ:TGTX) today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation for the Company’s oral, next generation PI3K Delta inhibitor, TGR-1202, for the treatment of patients with chronic lymphocytic leukemia (CLL). TGR-1202 is currently being evaluated in the UNITY-CLL Phase 3 Trial for patients with both frontline and previously treated CLL.
“We are pleased to receive orphan drug designation for TGR-1202. In addition to our composition of matter patent for TGR-1202 which issued earlier this year, the granting of this orphan drug designation offers an additional level of proprietary protection and also may provide us certain other regulatory and financial benefits,” said Michael S. Weiss, Executive Chairman and Interim CEO of TG Therapeutics. “We continue to be excited about the differentiated safety profile of TGR-1202 over other PI3k delta inhibitors and believe the UNITY-CLL Phase 3 Trial will showcase those differences.”
Orphan drug designation is granted by the FDA to drugs and biologics which are defined as those intended for the safe and effective treatment, diagnosis or prevention of rare diseases/disorders that affect fewer than 200,000 people in the U.S. Orphan drug designation provides certain incentives which may include tax credits towards the cost of clinical trials and prescription drug user fee waivers. If a product that has orphan drug designation subsequently receives the first FDA approval for the disease for which it has such designation, the product is entitled to orphan product exclusivity.
Chronic lymphocytic leukemia (CLL) is a type of cancer in which the bone marrow makes too many lymphocytes (a type of white blood cell). CLL usually gets worse slowly and is one of the most common types of leukemia in adults. It often occurs during or after middle age. It is estimated that there are approximately 20,000 new cases of CLL diagnosed each year in the United States.
ABOUT TG THERAPEUTICS, INC.
TG Therapeutics is a biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Currently, the company is developing two therapies targeting hematological malignancies and autoimmune diseases. TG-1101 (ublituximab) is a novel, glycoengineered monoclonal antibody that targets a specific and unique epitope on the CD20 antigen found on mature B-lymphocytes. TG Therapeutics is also developing TGR-1202, an orally available PI3K delta inhibitor. The delta isoform of PI3K is strongly expressed in cells of hematopoietic origin and is believed to be important in the proliferation and survival of B‐lymphocytes. Both TG-1101 and TGR-1202 are in clinical development for patients with hematologic malignancies, with TG-1101 recently entering clinical development for autoimmune disorders. The Company also has pre-clinical programs to develop IRAK4 inhibitors, BET inhibitors, and anti-PD-L1 and anti-GITR antibodies. TG Therapeutics is headquartered in New York City.
Cautionary Statement
Some of the statements included in this press release, particularly those with respect to anticipating benefits from Orphan Drug Designation for TGR-1202, future clinical trials, the timing of commencing or completing such trials and business prospects for TG-1101, TGR-1202, the IRAK4 inhibitor program, the BET inhibitor program, and the anti-PD-L1 and anti-GITR antibodies may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially are the following: our ability to successfully and cost-effectively complete pre-clinical and clinical trials for TG-1101, TGR-1202, the IRAK4 inhibitor program, the BET inhibitor program, and the anti-PD-L1 and anti-GITR antibodies; the risk that early pre-clinical and clinical results that supported our decision to move forward with TG-1101, TGR-1202, the IRAK4 inhibitor program, the BET inhibitor program, and the anti-PD-L1 and anti-GITR antibodies will not be reproduced in additional patients or in future studies; the risk that trends observed which underlie certain assumptions of future performance of TGR-1202 will not continue, the risk that TGR-1202 will not produce satisfactory safety and efficacy results to warrant further development following the completion of the current Phase 1 study; the risk that the combination of TG-1101 and TGR-1202, referred to as TG-1303, will not prove to be a safe and efficacious backbone for triple and quad combination therapies; the risk that the data (both safety and efficacy) from future clinical trials will not coincide with the data produced from prior pre-clinical and clinical trials; the risk that trials will take longer to enroll than expected; our ability to achieve the milestones we project over the next year; our ability to manage our cash in line with our projections, and other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at www.tgtherapeutics.com. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.
TGTX – G
CONTACT:
Jenna Bosco
Vice President, Investor Relations
TG Therapeutics, Inc.
Telephone: 212.554.4351
Email: ir@tgtxinc.com
FREMONT, Calif. and SEONGNAM, South Korea, Aug. 24, 2016 — Aehr Test Systems (NASDAQ:AEHR), a worldwide supplier of semiconductor test and burn-in equipment, and Semics Inc., a semiconductor test equipment provider that produces fully automatic wafer handling and probing systems, today announced a development and manufacturing partnership between the two companies, including an investment by Semics in 200,000 shares of Aehr Test Systems common stock.
Aehr Test and Semics have a strategic partnership in place that includes a multi-year supply agreement for the development and manufacture of Aligners for Aehr Test’s multi-wafer FOX test and burn-in systems. The initial products resulting from this partnership have been delivered to customers and have been successfully implemented and qualified in a production environment, and the two companies expect to collaborate on additional wafer automation projects in the future.
Gayn Erickson, President and CEO of Aehr Test Systems, commented, “We are very pleased to receive this investment in Aehr Test as part of our development and manufacturing partnership, which began several years ago when we first collaborated to develop the FOX WaferPak Aligner, a key component of our new FOX-XP Multi-Wafer Test and Burn-in Systems. We have had a very successful working relationship with Semics, and more recently worked together on the multi-stage prober for our initial FOX-1P next generation single wafer test system, which we shipped last month to our initial lead customer for this system.”
Shoun Yu, CEO of Semics, commented, “This is a beneficial collaboration for both companies and we have enjoyed a very good working relationship with Aehr Test. I have enjoyed a close working relationship with Gayn that dates back many years and contributed to the success of Semics from the very beginning. We are pleased to make this investment and look forward to collaborating on additional automation projects with Aehr Test in the future.”
About Aehr Test Systems
Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic and memory integrated circuits and has an installed base of more than 2,500 systems worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, capacity needs and opportunities for Aehr Test products in package and wafer level test. Aehr Test has developed and introduced several innovative products, including the ABTSTM and FOX families of test and burn-in systems and the DiePak® carrier. The ABTS system is used in production and qualification testing of packaged parts for both lower-power and higher-power logic as well as all common types of memory devices. The FOX system is a full wafer contact test and burn-in system used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The DiePak carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of bare die. For more information, please visit the Company’s website at www.aehr.com.
About Semics Inc.
Headquartered in Seongnam, Gyeonggi, South Korea, Semics Inc. is a leading supplier of wafer handling and probing systems for analog, mixed signal, wireless, data storage, variable sensor and memory products and has more than 15 years’ experience in the worldwide market. The most important values of Semics Inc. are customer’s satisfaction first and being ready for the market by inventing a product which will lead every part of the community one more step forward. With this slogan, Semics Inc. has been introducing OPUS* series wafer probe systems since 2000. Today the OPUS probe systems handle 6” to 12” bare wafer as well as thinned, singulated, and reconstructed wafers on film frames to meet market demand. The Automotive, Mobile and IoT markets are driving chip scale packaging for miniaturization, quality and reliability, and the OPUS wafer probe system is the right solution in wafer level test. For more information, please visit the Company’s website at www.semics.com.
*OPUS is a trademark of Semics Inc. in Korea and other countries.
Safe Harbor Statement
This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements are based on information available to Aehr Test as of the date hereof and actual results could differ materially from those stated or implied due to risks and uncertainties. Forward-looking statements include statements regarding Aehr Test’s expectations, beliefs, intentions or strategies regarding the future including statements regarding future market opportunities and conditions, expected product shipment dates, customer orders or commitments and future operating results. The risks and uncertainties that could cause Aehr Test’s results to differ materially from those expressed or implied by such forward looking statements include, without limitation, general market conditions, customer demand and acceptance of Aehr Test’s products and Aehr Test’s ability to execute on its business strategy. See Aehr Test’s recent 10-K, 10-Q and other reports from time to time filed with the Securities and Exchange Commission for a more detailed description of the risks facing Aehr Test’s business. Aehr Test disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release.
Aehr Test Systems
Carl Buck
Vice President of Marketing
(510) 623-9400 x381
Investor Relations Contact:
Todd Kehrli or Jim Byers
MKR Group, Inc.
(323) 468-2300
aehr@mkr-group.com
Semics, Inc.
Paul Shin
Vice President of Marketing & Sales
(82) 31 697 6688
pshin@semics.com
Second Alzheimer’s Candidate to Follow Shortened Clinical Timeline
MENLO PARK, Calif., Aug. 24, 2016 — Corium International, Inc. (Nasdaq:CORI), a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty transdermal products, today announced receiving favorable written feedback from the U.S. Food and Drug Administration (FDA) on the company’s Pre-Investigational New Drug Application (PIND) submission for once-weekly transdermal Corplex Memantine.
Following review of Corium’s pre-IND submission, which included summary results from a Phase 1 pharmacokinetic (PK) study of the product candidate, the FDA concurred with the company’s development plans, including its proposal for pivotal studies based on the demonstration of bioequivalence, or BE, between the Corplex Memantine Transdermal Delivery System (TDS) and oral Namenda XR® (memantine HCl) extended release capsules.
“We are pleased with the FDA’s positive feedback on our bioequivalence-based clinical development plan,” said Peter D. Staple, President and Chief Executive Officer of Corium. “This guidance parallels the feedback that we received from the FDA for Corplex Donepezil, and was well-supported by our clinical study data. The bioequivalence approach enables the development of these important new treatments with reduced risk, time, and cost, compared to typical transdermal development programs.”
“We look forward to advancing our once-weekly Alzheimer’s products through clinical trials, and pursuing a streamlined regulatory pathway. These new transdermal therapeutics are designed to deliver drugs that collectively address an estimated 90% of the current market, and have the potential to improve the lives of patients and their caregivers.”
Corium recently reported results of studies on its optimized formulation of Corplex Memantine, which demonstrated delivery of the required dose of memantine over seven days in a pig study while also indicating acceptable skin tolerability. In preparation for a pilot BE trial, the company next plans to conduct a human PK study of this optimized formulation in healthy subjects to confirm skin tolerability and sustained delivery over one week.
Bioequivalence clinical studies are designed to assess the biological equivalence of pharmaceutical products based on the similarity of their PK profiles to those of already-approved drugs, and are generally performed in healthy subjects. These studies are relatively short in duration of treatment, and provide a development path that is substantially less costly and more streamlined compared to standard clinical development programs.
A Section 505(b)(2) NDA is a new drug application in which the FDA and applicant may rely on certain investigations of safety and effectiveness that were previously conducted by someone other than the applicant, and is applicable to an active drug substance that has previously been approved in a different dosage form.
About Alzheimer’s Disease and Memantine
Alzheimer’s disease is a progressive brain disorder in which the brain cells degenerate and die, causing a steady decline in memory and mental function. An estimated 5.1 million Americans suffered from Alzheimer’s disease in 2015; by 2025, this number is estimated to reach 7.1 million. Alzheimer’s disease is the most common cause of dementia among older adults. Dementia ranges in severity from mild, when it is just beginning to affect a person’s functioning, to moderate, and severe, when the person must depend on others for the basic activities of day-to-day life.
Memantine (the active ingredient in Namenda®) is one of the most widely prescribed medications for the treatment of moderate to severe dementia of the Alzheimer’s type. Memantine is the only FDA-approved N-methyl-D-aspartate (NMDA)-receptor antagonist for use in Alzheimer’s and works by regulating the activity of glutamate, a neurotransmitter in the brain involved in learning and memory. Memantine is currently only available in once- and twice-daily oral dosage forms, presenting compliance challenges for family members and caregivers who cannot rely on patients to consistently take their daily tablets.
Memantine and donepezil (the active ingredient in Aricept®) together represent approximately 90% of the units sold for the treatment of Alzheimer’s disease in the United States.
About Corplex
Corium’s Corplex system is a novel commercial-stage platform technology designed to broadly enable the transdermal delivery of small molecules, many of which have not previously been amenable to transdermal delivery. Corplex advanced transdermal and transmucosal systems are broadly adaptable for use in multiple drug categories and indications, and have the potential to reduce quantities of active ingredient utilized in transdermal products. Additionally, Corplex transdermal patches can enable efficient drug delivery, and adhere to either wet or dry surfaces for an extended period of time. Corium’s Corplex technology has been successfully commercialized in Procter & Gamble’s Crest® Whitestrips products, and is being utilized in several proprietary therapeutic products under development.
About Corium
Corium International, Inc. is a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty pharmaceutical products that leverage the company’s broad experience with advanced transdermal and transmucosal delivery systems. Corium has multiple proprietary programs in preclinical and clinical development, focusing primarily on the treatment of neurological disorders, with lead programs in Alzheimer’s disease. Corium has developed and is the sole commercial manufacturer of seven prescription drug and consumer products with partners Mayne Pharma Endo Pharmaceuticals and Procter & Gamble. The company has two proprietary transdermal platforms: Corplex™ for small molecules and MicroCor®, a biodegradable microstructure technology for small molecules and biologics, including vaccines, peptides and proteins. The company’s late-stage pipeline includes a contraceptive patch co-developed with Agile Therapeutics that is currently in Phase 3 trials, and additional transdermal products that are being developed with other partners. For further information, please visit www.coriumgroup.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our clinical trial and regulatory timing and plans, the achievement of clinical and commercial milestones, and the advancement of our technologies and our products and product candidates. Forward-looking statements are based on management’s current expectations and projections and are subject to risks and uncertainties, which may cause Corium’s actual results to differ materially from the statements contained herein. Further information on potential risk factors that could affect Corium’s business and its results are detailed in Corium’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016, filed with the Securities and Exchange Commission on August 12, 2016, and other reports as filed from time to time with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements, especially guidance on future financial or operating performance, which speaks only as of the date they are made. Corium undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.
Corplex™ and MicroCor® are registered trademarks of Corium International, Inc.
Namenda® and Namenda XR® are registered trademarks of Merz Pharma GmbH & Co. KGaA.
Aricept® is a registered trademark of Eisai R&D Management Co., Ltd.
Crest® Whitestrips is a registered trademark of The Procter & Gamble Company.
Investor and Media Contact:
BCC Partners
Karen L. Bergman
kbergman@bccpartners.com
(650) 575-1509
Susan Pietropaolo
spietropaolo@bccpartners.com
(845) 638-6290
HASBROUCK HEIGHTS, N.J., Aug. 24, 2016 — Nymox Pharmaceutical Corporation (NASDAQ:NYMX) is pleased to announce successful new study results from the long-term blinded placebo crossover group from the U.S. Phase 3 trials for fexapotide, the Company’s lead compound in late stage development for enlarged prostate (BPH) and for localized prostate cancer. The aim of the study was to determine the clinical benefit fexapotide can provide to men who initially were double blind randomized to and received placebo, remained blinded as to their placebo treatment, and who subsequently required additional medical and/or surgical treatment. In the new study long-term outcomes were determined in 391 patients who were given double blind placebo injections, which were followed by crossover to other treatments at the patients’ discretion. The numbers of blinded placebo patients who subsequently received surgical treatment during the next 2-3 years for their BPH symptoms were then prospectively analyzed. Results have now shown that there was 82-95% reduction in the number of these patients who required surgery after they received crossover fexapotide in the trial, as compared to patients who did not receive fexapotide but instead received crossover conventional approved BPH treatments (p<.0001).
“These exciting results from this long-term prospective analysis confirm what I and other researchers have consistently seen in the clinic — that it is obvious that fexapotide greatly helps patients in terms of symptomatic benefit for their BPH; and with these results, the clinical benefit also results in much less need for surgical intervention over the long-term. I believe these clinical results, combined with previously reported incidence and progression of prostate cancer in this patient population are truly important. Furthermore, the extreme safety of this new drug and the lack of sexual side effects are remarkably helpful for patients,” said Dr. Mo Bidair, Medical Director of San Diego Clinical Trials in San Diego, CA and an Investigator who has participated for many years in the Fexapotide Clinical Trials.
Nymox has completed and fully financed the execution of seven Phase 3 U.S. BPH (prostate enlargement) clinical protocols, including 2 prospective randomized multicenter single injection double blind clinical trials; 2 U.S. repeat injection clinical trials; and 3 U.S. blinded long-term clinical trial extension studies. In addition, a number of Phase 3 safety and clinical pharmacology studies and analyses have been completed. The Company expects to file for approvals in the next 1-2 quarters. The Company also expects to report further analyses and results when available in the near future. The Company will publish the findings of the fexapotide clinical trials in peer review medical journals as well as in presentations at medical and urological meetings.
“These prospective study results in blinded placebo crossover patients clearly demonstrate that fexapotide reduces the long-term need for surgery by 82-95% compared to approved conventional BPH treatments”, said Dr. Paul Averback MD, CEO of Nymox. “Fexapotide shows significant efficacy against prostate cancer as a therapeutic, and in addition has been shown to reduce the risk of prostate cancer when fexapotide is used to treat BPH. This is in stark contrast to some conventional BPH treatments in routine clinical use today which on the other hand increase prostate cancer risk, and which have many other well known undesirable side effects,” said Dr. Averback.
For more information please contact info@nymox.com or 800-936-9669.
Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Nymox, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the need for new options to treat BPH and prostate cancer, the potential of fexapotide to treat BPH and prostate cancer and the estimated timing of further developments for fexapotide. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development program, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the regulatory approval process, the timing of Nymox’s regulatory filings, Nymox’s substantial dependence on fexapotide, Nymox’s commercialization plans and efforts and other matters that could affect the availability or commercial potential of fexapotide. Nymox undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Nymox in general, see Nymox’s current and future reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the year ended December 31, 2015, and its Quarterly Reports.
Contact:
Paul Averback
Nymox Pharmaceutical Corporation
800-93NYMOX
www.nymox.com
Interface to Allow Real-Time Booking Alternative Lodging Inventory Access to Online Travel Agencies (OTA) and Cruise Brokers
WESTON, FL–(Aug 24, 2016) – Monaker Group (OTCQB: MKGI), a technology-driven travel company focused on the alternative lodging rental (ALR) market, announced today that it has completed the design, architecture and buildout of the Monaker Booking Engine (“MBE”) and the Application Program Interface (“API”) is complete.
The completion of the API and corresponding launch of the MBE allows Monaker to work towards partnering with large established Online Travel Agencies, tour operators, airline and cruise originators. Each of these groups will be able to access to Monaker’s alternative lodging, timeshare and resorts inventory, in a Real-Time booking format to which they are accustomed. Monaker’s Booking Engine allows real-time adjustment in inventory, commissions and service fees, which facilitates the ease of use of this platform and interface. This approach and real-time format is believed to be unique to Monaker. Most Alternative Lodging Companies still follow the request/response approach, slowing down the time it takes to receive confirmation.
“The completion of the MBE and API is an important milestone for the Company and our large inventory can now be distributed to our interested partners in the Alternative Lodging industry,” said Bill Kerby, chairman and CEO of Monaker Group. “I’m very pleased with the functionality of the MBE and initial discussions with potential partners has suggested their desire to find a true ‘Plug and Play’ solution. We believe we can now uniquely provide this for the growing travel space. Our goal of becoming one of the larger players in the Alternative Lodging Rental industry can now occur rapidly and we should be adding several large travel industry partners in the near future.”
About Monaker Group
Monaker Group is a technology driven Travel Company with multiple divisions and brands, leveraging more than 60 years of operation in leisure travel. Monaker’s flagship is NextTrip.com, the industry’s first booking engine featuring alternative lodging (vacation home rentals, resort residences and unused timeshares) as well as a vast array of airlines, hotels, cruises, rental cars, tours and concierge services all combined in one platform to give customers the power of choice when booking their vacations. With key partnerships and established travel brands used as cornerstones, the Company’s mission is to continue to expand offerings to become the “one stop” vacation center. Headquartered in South Florida, the Company employs a dedicated team of travel and technology professionals. For more information, visit www.MonakerGroup.com
Safe Harbor Statement:
This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of Monaker Group. These statements are only predictions and actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of our control. The potential risks and uncertainties include, among others, or the expectations of future growth may not be realized. These forward-looking statements are made only as of the date hereof, and Monaker Group, undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. All forward looking statements are expressly qualified in their entirety by the “Risk Factors” and other cautionary statements included in Monaker Group’s annual, quarterly and special reports, proxy statements and other public filings with the Securities and Exchange Commission (“SEC”), including, but not limited to, the Company’s Annual Report on Form 10-K for the period ended February 29, 2016 which has been filed with the SEC and is available at the SEC’s website at www.sec.gov.
CONTACT:
Monaker Group
Attention: Richard Marshall
Director of Corporate Development
Email: rmarshall@monakergroup.com
Tel: (954) 888-9779
Chesapeake Group
Investor Relations (Monaker)
Tel: (410) 825-3930
SHANGHAI, China, Aug. 23, 2016 — Baozun Inc. (Nasdaq:BZUN) (“Baozun” or the “Company”), the leading brand e-commerce solutions provider in China, today announced the launch of Baotong E-logistics (“Baotong”), a wholly-owned warehousing and logistics solutions subsidiary. Baotong will further strengthen and expand the scale of the Company’s diversified range of warehousing and fulfillment services and improve its ability to serve a larger number of brand partners.
Baotong will serve as a separate logistics entity that will provide warehousing and fulfilment services to brand partners, beginning with the management and operation of Baozun’s seven distribution centers with an aggregate gross floor area of around 180,000 square meters. Final adjustments are currently being made to Baotong’s first premium warehouse, the Baotong Cube, which is expected to officially begin operations in September 2016. The new premium warehouse will be highly automated, significantly improve operational efficiency, provide brand partners with a more customizable solution and support Baozun’s long-term growth by strengthening and expanding the scale of its logistical capabilities.
Baotong will further diversify Baozun’s revenue streams by serving brand partners who are in need of the deep experience in B2C warehousing and fulfillment services. The Company will also be able to provide an enhanced and even more customizable array of logistical services to brand partners across a number of categories as well as improve their operational efficiency. Baotong will directly support the success of brand e-commerce and shape the industry going forward by forming a part of a new generation of intelligent warehousing and fulfillment services.
In addition to the strategic cooperation agreement signed with Alibaba Group Holding Limited’s (“Alibaba”) (NYSE:BABA) logistics arm Cainiao Network Technology Co., Ltd. (“Cainiao”) last year, Baotong will further deepen its relationship with Cainiao by providing best-in-class services to a wider variety of merchants through Cainiao’s platform.
“Creating Baotong as a separate entity is a significant milestone for us in further strengthening our logistical capabilities and another step in providing enhanced warehousing and fulfillment solutions to the e-commerce market as whole,” commented Mr. Vincent Qiu, Chief Executive Officer of Baozun. “As the rapid growth of brand e-commerce continues in China, more and more brands and merchants are seeking experienced and professional B2C warehouse and fulfillment services. By establishing a logistics subsidiary, we will also be able to develop relationships with more brands, starting with logistical services. We are committed to investing in our future as we explore solutions and innovate new services in China’s e-commerce industry.”
Safe Harbor Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “going forward,” “outlook” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
About Baozun Inc.
Baozun is the leading brand e-commerce solutions provider in China that helps brand partners execute their e-commerce strategies. The Company’s integrated capabilities encompass all aspects of the e-commerce value chain, covering IT solutions, store operations, digital marketing, customer services, warehousing and fulfillment. The Company helps brand partners execute their e-commerce strategies in China by selling their goods directly to customers online or by providing services to assist with their e-commerce operations.
For more information, please visit http://ir.baozun.com
For investor and media inquiries, please contact:
Baozun Inc.
Ms. Caroline Dong
ir@baozun.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
Platforms Covered in the Agreement Span Android & iOS Devices To Provide Value-Added Services
AUSTIN, Texas and MIAMI, Aug. 23, 2016 — Digital Turbine, Inc. (Nasdaq: APPS), a global mobile platform company, and Brightstar Corp., a world leader in managing mobile devices across the wireless ecosystem, today announced a global, multi-year agreement to provide value-added services to carriers and OEMs. Under the terms of the agreement, Brightstar may deploy Digital Turbine’s full suite of technology platforms, including Ignite™, Marketplace™, and Pay™, across targeted market segments. Implementation is expected to begin in the second half of 2016.
“Discovering new ways to enhance customer value is a top priority of ours,” said Nara Kim, Head of Mobile Digital Solutions at Brightstar. “Digital Turbine’s technology platforms enable us to provide more value-added services that create new revenue streams for our mobile operator and OEM partners. Operating at the convergence of mobile and media, we are pleased to work with Digital Turbine at the forefront of mobile monetization solutions.”
“Our end-to-end mobile platforms connect the dots between Operators, OEMs, and Advertisers, enabling monetization across devices and throughout the lifecycle,” said Bill Stone, CEO of Digital Turbine. “We are very excited to partner with Brightstar, an innovative leader with about 200 operator and MVNO partners globally. We offer an efficient way to monetize devices while providing end customers a more engaging user experience. Together with Brightstar, we can bring a new level of targeting capabilities and value added services to mobile operators and OEMs around the world.”
For more information, visit www.digitalturbine.com.
About Brightstar
Brightstar, a subsidiary of SoftBank Group Corp., is a leading provider of B2B services to mobile manufacturers, operators, retailers, and enterprises. With more than 50,000 customers in about 100 countries across six continents, Brightstar is firmly positioned at the center of the wireless ecosystem®. Brightstar touches almost every aspect of a mobile device somewhere in its lifecycle, by providing innovative services that can be seamlessly integrated across customer mobile value chains. Brightstar reported global net revenues of approximately $12.1 billion in 2015. For more information, please visit www.Brightstar.com.
About Digital Turbine
Digital Turbine works at the convergence of media and mobile communications, delivering end-to-end products and solutions for mobile operators, device OEMs, app advertisers and publishers, that enable efficient user acquisition, app management and monetization opportunities. The company’s products include Ignite™, a mobile device management solution with targeted app distribution capabilities, Marketplace™, an application and content store, and Pay™, a content management and mobile payment solution. Digital Turbine Media encompasses a leading independent user acquisition network as well as an advertiser solution for unique and exclusive carrier inventory. Digital Turbine has delivered more than 150 million app installs for hundreds of advertisers. In addition, more than 31 million customers use Digital Turbine’s solutions each month across more than 30 global operators. The company is headquartered in Austin, Texas with global offices in Durham, Berlin, San Francisco, Singapore, Sydney and Tel Aviv. For additional information visit http://www.digitalturbine.com/ or connect with Digital Turbine on Twitter at @DigitalTurbine.
Follow Digital Turbine:
Twitter: https://twitter.com/DigitalTurbine
Facebook: https://www.facebook.com/DigitalTurbineInc
LinkedIn: http://www.linkedin.com/company/digital-turbine
For more information, contact:
Investor relations contact:
Brian Bartholomew
Digital Turbine
ir@digitalturbine.com
(512) 800-0274
Carolyn Capaccio/Sanjay M. Hurry
LHA
(212) 838-3777
digitalturbine@lhai.com
– Milestone marks transition from development to prototype
Astrotech Corporation (NASDAQ:ASTC) subsidiary 1st Detect Corporation and strategic partner Battelle Memorial Institute completed the Brassboard Phase and were awarded the Final Prototype Phase of the US military’s Next Generation Chemical Detector (NGCD) Multi-Sample Identifier (MSI) Technology Maturation and Risk Reduction Program. During this upcoming phase, 1st Detect will deliver multiple OEM-1000NG Core Analyzer units for integration into Battelle’s NGCD prototype solution. Battelle is the prime contractor for the Department of Defense’s Joint Program Executive Office for Chemical and Biological Defense (DOD’s JPEO-CBD) next generation chemical detection solution program.
“We are pleased to have passed Phase II,” stated Brent Shroy, Manager of Battelle’s CBRNE Product & Lifecycle Management Business. “1st Detect’s chemical analyzer is the engine that enables the detection of complex compounds with high levels of sensitivity and accuracy. Through our collaboration, we have created a rugged, lightweight instrument that delivers lab quality performance and can be easily employed in the field. We look forward to continuing with 1st Detect to further refine our solution during Phase III.”
“In Phase III, our NGCD solution will undergo additional testing to validate performance in a variety of military operational environments,” stated Thomas B. Pickens III, CEO of Astrotech. “We are confident our collaboration will advance to the EMD phase with the government. Our technical program team has done an outstanding job developing a joint detection solution for use in post-event reconnaissance and surveillance.”
About Battelle Memorial Institute
Every day, the people of Battelle apply science and technology to solving what matters most. At major technology centers and national laboratories around the world, Battelle conducts research and development, designs and manufactures products, and delivers critical services for government and commercial customers. Headquartered in Columbus, Ohio since its founding in 1929, Battelle serves the national security, health and life sciences, and energy and environmental industries. For more information, visit www.battelle.org.
About 1st Detect Corporation
1st Detect, a subsidiary of Astrotech Corporation (NASDAQ: ASTC), develops, manufactures, and sells powerful, highly sensitive, and accurate mass spectrometers that are used in explosive and chemical warfare detection for the Department of Homeland Security and the military. The 1st Detect technology can also be used in various medical and industrial applications including breath analysis, leak detection and food and beverage manufacturing. These capabilities, combined in an economically priced, transportable, and ruggedized solution, make it an ideal tool for a variety of applications. For more information on 1st Detect Corporation, please visit www.1stDetect.com.
About Astrotech Corporation
Astrotech Corporation (NASDAQ: ASTC) is an innovative science and technology company that invents, acquires, and commercializes technological innovations sourced from research institutions, laboratories, universities, and internally, and then funds, manages, and builds proprietary, scalable start-up companies for profitable divestiture to market leaders to maximize shareholder value. Sourced from Oak Ridge Laboratory’s chemical analyzer research, 1st Detect develops, manufactures, and sells powerful, highly sensitive, and accurate mass spectrometers that can be used in explosive and chemical warfare detection for the Department of Homeland Security and the military. Sourced from decades of image research from the laboratories of IBM and Kodak combined with classified satellite technology from government laboratories, Astral Images sells film to digital image enhancement, defect removal and color correction software, and post processing services providing economically feasible conversion of television and feature 35mm and 16mm films to the new 4K ultra-high definition (UHD), high-dynamic range (HDR) format necessary for the new generation of digital distribution. Sourced from NASA’s extensive microgravity research, Astrogenetix is applying a fast-track on-orbit discovery platform using the International Space Station to develop vaccines and other therapeutics. Demonstrating its entrepreneurial strategy, Astrotech management sold its state-of-the-art satellite servicing operations to Lockheed Martin in August 2014. Astrotech has operations throughout Texas and is headquartered in Austin. For information, please visit www.astrotechcorp.com.
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, whether we can successfully develop our proprietary technologies and whether the market will accept our products and services, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
Company Contact:
Astrotech Corporation
Raj Mellacheruvu, 512-485-9530
Chief Operating Officer
IR Contact:
LHA Investor Relations
Cathy Mattison and Kirsten Chapman, 415-433-3777
ir@astrotechcorp.com
CENTENNIAL, Colo., Aug. 23, 2016 — Uranium Resources, Inc. (URI) (Nasdaq:URRE) (ASX:URI), announced today that it has staked approximately 4,600 acres (1,860 hectares) of placer mining claims covering a prospective target for lithium-enriched brines in the Columbus Salt Marsh area of west-central Nevada. The target area, known as the Nina Project, is situated within a region of known lithium mineralization and is approximately 27 miles (43 kilometers) northwest of the Clayton Valley/Silver Peak lithium brine mine of Albemarle Corporation, the only operating lithium brine recovery operation in the United States.
The acquisition of the Nina Project signals URI’s intent to expand and broaden our corporate efforts into other energy metal commodities, synergistic with the Company’s existing business operations and technical capabilities, in order to create increased shareholder value through exposure to rapidly expanding global energy demand. URI has advanced its internal program of target identification, exploration and evaluation rapidly, and is now actively acquiring lithium prospects to build a robust and prospective lithium project portfolio.
About the Nina Project:
The Nina Project is located approximately 45 miles (72 kilometers) west of Tonopah, Nevada, is bordered by US highways 6 and 95, and is located near electrical power. The target was initially identified by Company staff through literature reviews of historical geological and geochemical data from the US Geological Survey as well as other information sources, followed by field reconnaissance of the target area. Geochemical sampling returned lithium assay values from near-surface brines that ranged up to 70 and 124 parts per million (ppm) lithium, as determined by the Company’s Kingsville, Texas analytical laboratory and by ALS Minerals in Reno, Nevada, USA. Sediment samples collected from the target area ranged from 98 to 176 ppm lithium as determined through geochemical analyses carried out by ALS Minerals. These assay results generally confirm several of the lithium values from samples collected by the US Geological Survey in 1976, and indicate the target area warrants additional investigation to further characterize the subsurface environment.
The Columbus Salt Marsh, site of the Nina project, is a closed drainage basin covering an area of approximately 370 square miles (960 square kilometers) and whose geology is dominated by lake and evaporite sediments that have been sources of borate, potash and salt in the past.
Near term investigations at the Nina Project will focus on the chemical characterization of the lithium bearing brine aquifers, as well as the vertical and lateral extent of lithium-bearing brines.
A photo accompanying this release is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/60fd7521-68d1-43f7-84c6-c01d24c0349c
The nearby Clayton Valley (27 miles southeast) is the site of Albemarle Corporation’s Silver Peak lithium-brine mine; the only lithium brine production facility in the United States, which produces approximately 6,000 tonnes of lithium carbonate annually. The Columbus Salt Marsh is geologically similar to the Clayton Valley, and provides URI with a cornerstone project from which a complete lithium resource portfolio can be built.
About the Lithium Market
Lithium is a critical component for the manufacture of batteries for electrical storage and used in a wide range of devices ranging from cell phones to automobiles. The battery market is expected to grow 500% over the next 10 years, with lithium batteries accounting for 35% of this growth. At the same time, the transportation sub-market alone is expected to experience a 23% compounded annual growth rate during this same period.
With large battery plants such as Tesla’s “Gigafactory” near Reno, Nevada and Faraday Motor Works’ proposed facility near Las Vegas, Nevada – URI’s Nina Project is at the epicenter of lithium brine development, production and consumption in the United States.
Lithium enriched brines are proven to be less expensive to explore for, develop and operate than other sources of lithium, such as lithium rich pegmatites and hectorite clays. This advantage of brines is coupled with a small environmental footprint and minimal carbon emissions, which makes ISR mining of brines an attractive method for producing lithium.
For more on the Lithium Market please go to a new page on the Company’s website at www.uraniumresources.com.
Taking advantage of URI’s Expertise
With nearly forty years of corporate experience in the development, operation and restoration of ISR uranium recovery operations, URI is uniquely qualified to expand its business ventures into the lithium brine business. URI is positioned to take advantage of its extensive expertise in:
- Design, construction, and operation of well fields;
- The extraction and recovery (hydrometallurgy) of metals from groundwater;
- Exploration of mineral properties; and
- Permitting of new projects on privately-owned properties and lands administered by the US Bureau of Land Management and the US Forest Service.
The URI team has successfully explored for a wide range of mineral commodities, from industrial and agricultural minerals, precious metals, uranium and, now, lithium, in the United States and throughout the world. Using a disciplined approach, URI has centered its geological focus to locales, like the Columbus Salt Marsh, that fit a preferred geologic criteria and have the potential to host economic resources of lithium. Furthermore, the Company’s decades of wellfield design, management, and hydrometallurgical operations experience is directly transferrable to lithium brine extraction and processing. In addition, the Company’s existing facilities also present value in a diversification into lithium, as demonstrated in the use of the existing in-house analytical laboratory at the Kingsville Dome Mine to provide rapid analysis of brine screening samples collected as part of ongoing exploration and evaluation activities.
Christopher M. Jones, President and Chief Executive Officer, said, “Expanding our business into lithium brine exploration and development is a logical next step for URI and capitalizes on our wide range of experience. Diversifying our mineral portfolio while maintaining our uranium business portfolio in readiness for the predicted price rise allows investors increased exposure to the energy industry. We are excited about this new chapter for URI.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Uranium Resources (URI)
URI is focused on developing energy-related metals. In addition to the Nina Project, URI remains focused on advancing the Temrezli in-situ recovery (ISR) uranium project in Central Turkey. URI controls extensive exploration properties under nine exploration and operating licenses covering approximately 32,000 acres (over 13,000 ha) with numerous exploration targets, including the potential satellite Sefaatli Project, which is 30 miles (48 km) southwest of the Temrezli Project. In Texas, the Company has two licensed and currently idled processing facilities and approximately 11,000 acres (4,400 ha) of prospective ISR uranium projects. In New Mexico, the Company controls mineral rights encompassing approximately 190,000 acres (76,900 ha) in the prolific Grants Mineral Belt, which is one of the largest concentrations of sandstone-hosted uranium deposits in the world. Incorporated in 1977, URI also owns an extensive uranium information database of historic drill hole logs, assay certificates, maps and technical reports for the Western United States.
Cautionary Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing events or developments that the Company expects or anticipates will occur in the future, including but not limited to statements relating to mineralization and other developments at the Company’s lithium and uranium projects, synergies between the Company’s uranium and lithium businesses, and future prices and demand for lithium and uranium are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, (a) the Company’s ability to raise additional capital in the future; (b) spot price and long-term contract price of uranium and lithium; (c) risks associated with our foreign operations; (d) risks associated with the Company expanding its business into lithium; (e) competition from more experienced or better capitalized companies (f) operating conditions at the Company’s projects; (g) government and tribal regulation of the uranium industry and the nuclear power industry; (h) world-wide lithium and uranium supply and demand; (i) maintaining sufficient financial assurance in the form of sufficiently collateralized surety instruments; (j) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter, including in Turkey and in expanding into the lithium business; (k) the ability of the Company to enter into and successfully close acquisitions or other material transactions, including the transaction with Laramide, and other factors which are more fully described in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
Competent Person’s Statement
Technical information in this press release is based on data reviewed by Dean T. Wilton, who is Chief Geologist and Vice President of Uranium Resources, Inc. Mr. Wilton is a “Qualified Person” as defined by Canadian National Instrument 43-101, and a “Competent Person” as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). He is a Certified Professional Geologist (CPG-7659), as designated by the American Institute of Professional Geologists, and is a Member of the Australian Institute of Geoscientists (MAIG #6384). Mr. Wilton has appropriate experience that is relevant to the evaluation of the style of mineral deposits relating to this document. Mr. Wilton consents to the inclusion in this release of the matters based on their information in the form and context in which they appear.
The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.
Uranium Resources Contact:
Christopher M. Jones, President and CEO
303.531.0472
Jeff Vigil, CFO and VP Finance
303.531.0473
info@uraniumresources.com
www.uraniumresources.com
Independent Research Firm Raises Fair Value Estimate and Revenue Forecast
BELLINGHAM, WA–(August 23, 2016) – Fundamental Research Corp., an independent research firm specializing in the small-cap and microcap sectors, has announced that it has updated its analysis of eXp World Holdings, Inc. (OTCQB: EXPI). To the view the updated research report in its entirety visit http://www.otcmarkets.com/financialReportViewer?symbol=EXPI&id=159381.
eXp World Holdings, Inc. is the holding company for a number of entities including eXp Realty, the Agent-Owned Cloud Brokerage and First Cloud Mortgage, Inc. The Company’s real estate brokerage operations now has more than 1,600 real estate professionals who span across 41 states, the District of Columbia and parts of Canada.
In the report, Fundamental Research Corp., which initiated coverage of eXp World Holdings, Inc. back in April of this year, cites the Company’s record second quarter revenues and healthy balance sheet and the addition of 2 strong independent board members as well as adding to the company’s Executive team among the reasons for its upward revisions.
All research issued by Fundamental Research Corp. is based on public information. Fees were paid by EXPI to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, EXPI has agreed to a minimum coverage term including four reports.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage® as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
eXp World Holdings, Inc. also owns 89.4% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, Virginia and New Mexico. First Cloud Mortgage has positioned itself as a Planet Friendly Mortgage Company via the purchase of carbon offsets for homeowners offsetting the first year of the Carbon Footprint of the typical home on each mortgage originated through First Cloud Mortgage, Inc.
As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.
For more information you can follow eXp World Holdings, Inc. on Twitter, LinkedIn, Facebook, YouTube, or visit eXpWorldHoldings.com. For eXp Realty please visit: eXpRealty.com and for First Cloud Mortgage, Inc. check out FirstCloudMortgage.com.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the Company’s expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.
