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(CDNA) Revised Share Purchase Agreement
Combination Creates an International Transplantation Diagnostics Company With Expanded Distribution and Growth Potential
BRISBANE, Calif., Feb. 09, 2016 — CareDx, Inc. (NASDAQ:CDNA), a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value diagnostic surveillance solutions for transplant patients, today announced a revision to the terms of its public offer to the shareholders of Allenex AB (Stockholm:ALNX, S+).
Under the agreements entered into on December 16, 2015, the three principal Allenex shareholders, collectively owning 78% of the outstanding shares (the “Majority Shareholders”), agreed with CareDx to tender their shares for a combination of cash and CareDx common stock that valued Allenex at approximately $35 million. Under the original terms, $6 million of the cash consideration to the Majority Shareholders would be made contingent on Allenex achieving certain commercial and financial milestones in 2016. Under the revised terms, CareDx and the Majority Shareholders have agreed to defer the payment of these milestones until March 31, 2017, if earned. In addition, the Majority Shareholders will be issued a total of 150,000 additional shares of CareDx common stock. This deferred milestone payment only applies to the Majority Shareholders.
CareDx is also revising the cash and common stock alternative offered to the remaining 22% of Allenex shareholders (the “Non-Majority Shareholders”) by increasing the common stock component by the same proportion from 0.01298 to 0.01458 CareDx share per Allenex share. If the offer is accepted in its entirety under the cash and common stock alternative, 1,753,806 shares of common stock will be issued by CareDx, which would represent 12.8% of the outstanding shares of CareDx. The Non-Majority Shareholders have also been offered an all cash alternative which remains unchanged from the original offer.
The public offer is made to all shareholders of Allenex. The Majority Shareholders have already agreed to tender their shares. The offer document is expected to be published in the first quarter of 2016.
The combination of CareDx and Allenex will create an international transplantation diagnostics company with product offerings along the pre-post-transplant continuum. The Olerup SSP line and AlloMap® are foundational diagnostics that are well recognized by the transplant community. The combined company will have a presence and direct distribution channels in the US and Europe.
A link to the release can be found here:
http://news.cision.com/caredx–inc-/r/caredx-announces-revised-terms-in-its-recommended-offer-to-all-shareholders-in-allenex,c9910367
About CareDx
CareDx, Inc., based in Brisbane, California, is a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value diagnostic surveillance solutions for transplant patients. The company has commercialized AlloMap®, a gene expression test that aids clinicians in identifying heart transplant patients with stable graft function who have a low probability of moderate/severe acute cellular rejection. CareDx is also developing additional products for transplant monitoring using a variety of technologies, including AlloSure™, its next-generation sequencing—based test to detect donor-derived cell-free DNA after transplantation. For more information, please visit: www.CareDx.com.
About Allenex AB
Allenex AB, headquartered in Stockholm, is a life sciences company that develops, manufactures, markets and sells high quality products that increase the chance of successful transplants by facilitating a better match between the donor and the recipient of stem cells and organs. Allenex AB currently markets two key products: Olerup SSP, a set of HLA typing used prior to hematopoietic stem cell/bone marrow transplantation and organ transplantation, and XM-ONE®, the first standardized test used for crossmatching that identifies the presence of non-HLA antibodies strongly associated with rejection episodes and reduced kidney function after transplant.
Forward Looking Statements
This press release contains forward-looking statements including, but not limited to statements regarding the Company’s expectations regarding future potential, development and commercial activities. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward looking statements, including CareDx’s limited operating history and experience with developing new markets and that closing conditions may not be satisfied and the transaction may not be completed, as well as other risks stated in CareDx’s filings with the SEC located at www.sec.gov. CareDx disclaims any obligation to publicly update or revise any forward looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
Media Contact Molly Martell, CareDx, Inc. T: +1 415-287-2397 E: mmartell@caredx.com Investor Contact Leigh J. Salvo, Westwicke Partners, LLC T: +1 415-513-1281 E: lsalvo@westwicke.com
(ZIOP) First Patient Enrolled Phase 1 Study in CAR T-Cell Therapy
BOSTON, Feb. 09, 2016 — ZIOPHARM Oncology, Inc. (Nasdaq:ZIOP), a biopharmaceutical company focused on new cancer immunotherapies, today announced that the first patient has been enrolled in a Phase 1 clinical study of its second generation non-viral CD19-specific chimeric antigen receptor (CAR) modified T-cell therapy in patients with advance lymphoid malignancies. The CD19-specific T cells were modified using the Sleeping Beauty system to stably express the CAR in T cells.
The Sleeping Beauty transposon-transposase is a unique non-viral system for introducing genes encoding CARs and T-cell receptors (TCRs) into lymphocytes and is exclusively licensed by Intrexon Corporation (NYSE:XON) through The University of Texas MD Anderson Cancer Center and accessed as part of ZIOPHARM’s collaboration. This non-viral approach may play an important role in immunotherapy and has several potential advantages over viral delivery systems, including:
- Lower cost of generating genetically modified T cells
- Generate T cells with minimal ex vivo processing
- Conduit to targeting solid tumor neo-antigens using TCRs
- Pathway to overcome regulatory hurdles
“The survival benefit seen in early clinical results with our first generation CD19-specific CAR+ T cells were highly encouraging, and preclinical results to date suggest that our next generation CAR structure may improve upon these outcomes,” said Laurence Cooper, M.D., Ph.D., Chief Executive Officer of ZIOPHARM. “These studies continue to strengthen our understanding of the application and benefit of the Sleeping Beauty platform, the only efficient non-viral gene transfer system in clinical application. Sleeping Beauty offers the potential to significantly reduce the expense and simplify the implementation of genetically modified T cells, both of which are critical to the personalization and broad application of immunotherapies based on CARs and TCRs.”
In two prior trials the first generation CD19-specific CAR+ T cells, patient-derived (autologous) or donor-derived (allogeneic) T cells were administered to recipients with advanced CD19-expressing leukemias and lymphomas after hematopoietic stem-cell transplantation (HSCT). Results demonstrated an apparent doubling of survivals compared to historical controls.
The second-generation Sleeping Beauty CAR+ T cells employ a revised CAR construct designed to improve persistence and anti-tumor response over the first generation therapy. Additionally, this investigational treatment is independent of HSCT. This trial is being conducted at MD Anderson.
About ZIOPHARM Oncology, Inc.:
ZIOPHARM Oncology is a Boston, Massachusetts-based biotechnology company employing novel gene expression, control and cell technologies to deliver safe, effective and scalable cell- and viral-based therapies for the treatment of cancer. The Company’s synthetic immuno-oncology programs, in collaboration with Intrexon Corporation (NYSE:XON) and the MD Anderson Cancer Center, include chimeric antigen receptor T cell (CAR-T) and other adoptive cell based approaches that use non-viral gene transfer methods for broad scalability. The Company is advancing programs in multiple stages of development together with Intrexon Corporation’s RheoSwitch Therapeutic System® technology, a switch to turn on and off, and more precisely modulate gene expression in order to improve therapeutic index. The Company’s pipeline includes a number of cell-based therapeutics in both clinical and preclinical testing which are focused on hematologic and solid tumor malignancies.
Forward-Looking Safe-Harbor Statement:
This press release contains certain forward-looking information about ZIOPHARM Oncology, Inc. that is intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts, and in some cases can be identified by terms such as “may,” “will,” “could,” “expects,” “plans,” “anticipates,” and “believes.” These statements include, but are not limited to, statements regarding the progress, timing and results of preclinical and clinical trials involving the Company’s drug candidates, and the progress of the Company’s research and development programs. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements. These risks and uncertainties include, but are not limited to: whether chimeric antigen receptor T cell (CAR T) approaches, Ad-RTS-IL-12, TCR and NK cell-based therapies, or any of our other therapeutic candidates will advance further in the pre-clinical or clinical trials process and whether and when, if at all, they will receive final approval from the U.S. Food and Drug Administration or equivalent foreign regulatory agencies and for which indications; whether chimeric antigen receptor T cell (CAR T) approaches, Ad-RTS-IL-12, TCR and NK cell-based therapies, and our other therapeutic products will be successfully marketed if approved; the strength and enforceability of our intellectual property rights; competition from other pharmaceutical and biotechnology companies; and the other risk factors contained in our periodic and interim SEC reports filed from time to time with the Securities and Exchange Commission, including but not limited to, our Annual Report on Form 10-K for the fiscal year ended December 31, 2014, and our Quarterly Reports on Form 10Q for the quarters ended March 31, 2015, June 30, 2015 and September 30, 2015. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
Trademarks
RheoSwitch Therapeutic System® (RTS®) technology is a registered trademark of Intrexon Corporation.
Contact: Lori Ann Occhiogrosso ZIOPHARM Oncology, Inc. 617-259-1987 locchiogrosso@ziopharm.com David Pitts Argot Partners 212-600-1902 david@argotpartners.com
(SLI) Announces Receipt of Revised Non-Binding Acquisition Proposal
SL Industries, Inc. (NYSE MKT: SLI) (the “Company”) announced that Handy & Harman Ltd., a publicly traded NASDAQ company, has delivered a revised non-binding proposal to acquire all outstanding shares of common stock of the Company. Under the terms of the revised proposal, Handy & Harman has proposed to pay $35.50 per share in an all cash transaction. Handy & Harman is an affiliate of Steel Partners Holdings L.P., which beneficially owns 25.1% of the Company’s outstanding common stock.
Handy & Harman’s initial proposal, received by the independent directors of the Company’s Board of Directors in June 2015, included a per share price of $43.00 to $45.00. The initial proposal contemplated that Company stockholders other than Steel Partners Holdings would be able to elect to receive cash or Handy & Harman stock (with Steel electing to receive all stock), subject to proration so that the aggregate consideration consisted of 55% cash and 45% Handy & Harman stock.
The Special Committee of the Company’s Board of Directors, which was authorized, among other things, to evaluate the initial Handy & Harman proposal, will review and consider the revised proposal carefully in due course, consistent with its fiduciary duties to act in the best interest of stockholders. The Special Committee’s independent financial adviser is Houlihan Lokey Capital, Inc. and its legal counsel is Gardere Wynne Sewell LLP.
The Company cautions its stockholders and others considering trading in its securities that the Handy & Harman proposal was just received and no decisions have been made by the Special Committee with respect to a response. There can be no assurance that any agreement will be executed or that any transaction will be consummated.
The Company presently does not intend to comment further regarding the revised Handy & Harman proposal or any other potential transaction, unless and until a specific transaction is approved by the Special Committee.
About SL Industries
SL Industries, Inc., designs, manufactures and markets power electronics, motion control, power protection, and power quality electromagnetic equipment that is used in a variety of medical, commercial and military aerospace, solar, computer, datacom, industrial, LED lighting and audio visual systems, and telecom applications. For more information about SL Industries, Inc. and its products, please visit the Company’s web site at www.slindustries.com.
Forward-Looking Statements
This press release contains certain “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, that reflect the Company’s current expectations and projections about its future results, performance, prospects, and opportunities. The Company has tried to identify these forward-looking statements by using words such as “may,” “should,” “expect,” “hope,” “anticipate,” “believe,” “intend,” “plan,” “estimate,” and similar expressions. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause its actual results, performance, prospects, or opportunities in 2016 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These factors include, without limitation: the effectiveness of the cost reduction initiatives undertaken by the Company, changes in demand for the Company’s products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, difficulties encountered in the integration of acquired businesses and other risks discussed from time to time in the Company’s Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable and achievable, such statements involve significant risks and uncertainties, and no assurance can be given that the actual results will be consistent with these forward-looking statements. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances, or any other reason.
SL Industries, Inc.
Louis J. Belardi
Chief Financial Officer
856-727-1500 x 5525
louis.belardi@slindustries.com
(NYMX) Announces Prostate Cancer Clinical Trial Results
HASBROUCK HEIGHTS, N.J., Feb. 09, 2016 — Nymox Pharmaceutical Corporation (NASDAQ:NYMX) today announced results from the completion of the Company’s U.S. 40 month (18 month outcomes) localized prostate cancer Phase 2 NX03-0040 clinical trial of fexapotide triflutate (NX-1207). The study successfully met its pre-determined endpoints. Cancer progression clinical outcomes were significantly improved in the fexapotide treated patient groups.
The clinical trial commenced in February 2012 at 28 U.S. investigational clinical trial sites and enrolled 147 patients with low grade localized (T1c) prostate cancer. The study lasted 40 months overall from the first patient randomized to the last patient 18 month endpoints.
Results from the completed 18 month outcome study after a single injection of fexapotide included the following:
- Absence of tumors (Primary Endpoint) controlled for size in baseline area: fexapotide 15 mg superior to control (p=.035); crossover fexapotide 15 mg superior to control (p=.002); crossover fexapotide overall superior to control (p=.014).
- 75.5% reduction in biopsy proven prostate cancer Gleason upgrades (pathological progression) after 18 months in fexapotide 15 mg treated patients compared to control (p=.0055). 71.7% reduction in prostate cancer Gleason upgrades in fexapotide treated patients overall (p=.0045 vs controls).
- 84.8% reduction after 18 months in surgery or radiotherapy instituted for prostate cancer Gleason upgrade (biopsy worsening) in fexapotide treated patients overall compared to control group (p=.014).
- 54.8% reduction after 18 months in surgery or radiotherapy instituted for all causes with or without prostate cancer Gleason upgrade in fexapotide 15 mg treated patients compared to control (p=.026).
- Significant improvement for fexapotide patients compared to controls in 4 out of 4 Secondary Endpoints. Tumor volume reduction in the treated area, combined dosages (p=.04); tumor volume change in prostate overall, fexapotide patients overall (p=.014); median tumor grade outcome in the treated area, all dosages (fexapotide median benign, vs control median Gleason 3+3), and superior median tumor grade in prostate overall, fexapotide 15 mg vs controls.
- Consistent safety results with no significant drug-related adverse events and no significant related sexual adverse events.
- Overall superior results for the fexapotide 15 mg dose compared to the 2.5 mg dose (dose-response).
- Other statistically significant improvement outcomes in fexapotide patients compared to controls, to be presented comprehensively at medical meetings.
“These results demonstrate that a single targeted office injection of fexapotide has led to statistically significant improvement in outcomes with much less surgery or radiotherapy required after 18 months. This means a reduction in patient discomfort, and a reduction in permanent side effects and life changes when the more invasive treatments are required,” said Paul Averback, CEO of Nymox.
Dr. Averback added, “Based on these outcomes, we believe there are exciting potential patient benefits from one or more painless fexapotide office injections for this common and distressing condition.”
The Company will report at a later date concerning its plans for moving the compound forward toward the market for this important medical problem.
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, 2014, and its Quarterly Reports.
Paul Averback Nymox Pharmaceutical Corporation 800-93NYMOX www.nymox.com
(BLPH) Positive Data Phase 2 INOpulse Study
Long-Term Extension Data Reinforces Earlier Phase 2 Data and Indicates Sustainability of Benefits for PAH Patients
WARREN, N.J., Feb. 09, 2016 — Bellerophon Therapeutics, Inc. (Nasdaq:BLPH), a clinical-stage biotherapeutics company, today announced positive data from the final analysis of the Company’s Phase 2 long-term extension study of INOpulse for the treatment of Pulmonary Arterial Hypertension (PAH) (Part 2 of the Company’s Phase 2 trial).
The Phase 2 long-term extension study indicated a sustained benefit to PAH patients who received INOpulse 75 mcg/kg ideal body weight per hour (iNO 75) therapy for at least 12 hours per day combined with Long-Term Oxygen Therapy (LTOT). In Part 1 of the Phase 2 study, these patients showed a mean improvement in 6 minute walk distance (6MWD) of 52.4 meters after 16 weeks of therapy. In Part 2 of the study, after 16 to 32 months of treatment, the patients who remained on iNO 75 for at least 12 hours a day combined with LTOT continued to maintain a mean increase in 6MWD of 55.2 meters. None of these patients had a decrease in 6MWD. Patients, including those on LTOT, who were on either iNO 25 mcg/kg ideal body weight per hour (iNO 25) or maintained therapy for less than 12 hours per day had on average a decrease in 6MWD.
A recent study by Farber et al. shows that “worsening of the 6MWD was strongly and significantly associated with a poor prognosis.” (REVEAL Registry, Farber et al., J Heart Lung Transpl., 2015).
These data directly support the design of the planned Phase III trial.
Data from Long-term Extension Analysis
Following 16 weeks of blinded therapy in Part 1 of the trial, in Part 2 of the trial 65 patients were randomized to receive iNO 25 or iNO 75. The long-term extension analysis was performed after patients had completed between 16 and 32 months of INOpulse treatment, and data from the long-term extension analysis was compared to baseline measurements taken at the beginning of Part 1 of the trial. All patients in the trial were on at least one approved PAH therapy, and most were on two or three PAH therapies.
The long-term extension analysis showed the following:
- Patients on LTOT in the iNO 75 dose treatment arm who remained on INOpulse therapy for at least 12 hours a day had a mean improvement of 55.2 meters as compared to baseline (n=7).
- Patients on LTOT in the iNO 75 dose treatment arm who remained on INOpulse therapy for less than 12 hours a day showed a mean decrease of 18.0 meters as compared to baseline (n=6).
- Patients in the iNO 25 dose treatment arm, including those on LTOT, had a mean decrease of 43.7 meters from baseline (n=12).
For patients in the long-term extension study, no significant safety issues have been found with no reports of methemoglobin elevation and no adjudicated cases of pulmonary rebound. Only 2 Serious Adverse Events have been reported as possibly related, with these subjects continuing on iNO therapy.
These findings also confirmed a recently released interim analysis of the Phase II data which was performed at 12 months after entry into the study. The 12 month analysis also found that LTOT patients who used iNO 75 for at least 12 hours a day had the greatest benefit.
Jonathan Peacock, Chairman and Chief Executive Officer of Bellerophon Therapeutics, stated, “The long-term analysis is very encouraging for PAH patients, as the data indicates a clinically significant and sustained benefit for patients on Long-Term Oxygen Therapy and the higher iNO 75 dose, when used for at least 12 hours per day. The analysis supports the hypothesis generated from Part 1 of the Phase 2 study and is well aligned with the design of the Phase 3 program, for which we have agreement with the FDA through a SPA and with the European Medicines Agency through a Scientific Advice Working Party.”
Phase 3 Development Program
The key elements of the planned U.S. and EU Phase 3 development program are:
- The Phase 3 program will consist of two clinical trials totaling 450 patients; one trial with two treatment arms (iNO 75 and placebo) and one with three treatment arms (iNO 75, iNO 50 and placebo). Each treatment arm will consist of approximately 90 patients.
- All patients in the trials will be on LTOT.
- Each trial will have a run-in period of two weeks to ensure compliance. Patients who do not stay on the therapy for at least 16 hours a day during this period will be replaced.
- The primary endpoint is improvement in 6MWD compared to placebo after 16 weeks.
- The secondary endpoint is Time to Clinical Worsening (TTCW), with analysis pooled across both trials. Patients will stay on therapy until the last patient visit measuring 6MWD. One component of the definition of TTCW is decrease in 6MWD.
The Phase 3 trials will utilize the second-generation INOpulse device, which is considerably smaller and lighter (approximately 2.5 lbs.) than the original INOpulse DS device used in the Phase 2 study (approximately 7.5 lbs.). In addition to the significant reduction in size and weight, the INOpulse device also has an improved user interface and better breath detection technology, made possible by the Company’s proprietary tri-lumen cannula.
About Pulmonary Arterial Hypertension
Pulmonary Arterial Hypertension (PAH) is a rare, chronic and currently incurable disease that causes the walls of the arteries of the lungs to tighten and stiffen. Estimates suggest that there are about 35,000 patients diagnosed with PAH in the United States and Europe. In PAH patients, the right side of the heart has to work harder to pump blood through narrowed arteries in the lungs, which can decrease blood flow through the body. Eventually, the extra stress causes the heart to enlarge and become less flexible, further compromising its ability to pump blood out of the heart, through the lungs, and into the rest of the body. Patients with PAH have symptoms ranging from dizziness and fainting to shortness of breath during exercise. This range of symptoms, combined with the rare nature of the condition, often makes diagnosis difficult, and many PAH patients are not diagnosed until the disease has progressed. According to Thenappan et al, European Respiratory Journal 2007, even with today’s currently available therapies, the average mortality remains high, at 60% after five years.
About Bellerophon
Bellerophon Therapeutics is a clinical-stage biotherapeutics company focused on developing innovative therapies at the intersection of drugs and devices that address significant unmet medical needs in the treatment of cardiopulmonary diseases. The Company is currently developing three product candidates under its INOpulse® program, a proprietary pulsatile nitric oxide delivery device. The first is for the treatment of pulmonary arterial hypertension (PAH), for which the Company intends to commence Phase 3 clinical trials in 2016. The second is for the treatment of pulmonary hypertension associated with chronic obstructive pulmonary disease (PH-COPD), which is in Phase 2 development and the third candidate is for the treatment of pulmonary hypertension associated with Idiopathic Pulmonary Fibrosis (PH-IPF). The Company’s plans also call for the completion of further work on the use of INOpulse to treat PH-COPD and PH-IPF during 2016. For more information, please visit www.bellerophon.com.
Forward-looking Statements
Any statements in this press release about Bellerophon’s future expectations, plans and prospects, including statements about the clinical development of its product candidates, regulatory actions with respect to the Company’s clinical trials and expectations regarding the sufficiency of the Company’s cash balance to fund clinical trials, operating expenses and capital expenditures, and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials and the results of such trials, whether preliminary or interim results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials will be indicative of the results of later clinical trials, expectations for regulatory approvals, the FDA’s substantial discretion in the approval process, availability of funding sufficient for our foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the “Risk Factors” section of the Company’s most recent filings with the Securities and Exchange Commission. In addition, any forward-looking statements included in this press release represent Bellerophon’s views only as of the date of this release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release.
Contact At Bellerophon: Amy Edmonds, Vice President (908) 574-4765 At Rx Communications Group: Melody Carey (917) 322-2571
(TRCH) Provides Update on the Orogrande Project
PLANO, TX–(February 08, 2016) – Torchlight Energy Resources, Inc. (NASDAQ: TRCH) (“Torchlight” or the “Company”), today announced that the Orogrande Development Committee, consisting of members of the project operator, Torchlight Energy and consulting geologist Rich Masterson have elected to move forward on planning the next phase of drilling in the Orogrande Project. The project operator plans to permit three new wells starting with the University Founders B-19 #1 well. The new wells would be drilled vertically for test purposes and would have sufficient casing size to support lateral entry into any pay zone(s) encountered once the well is tested vertically. Torchlight and the project operator would then run a battery of tests on each well to gain information for future development of the field. Testing should confirm the pay zones seen in the Rich A-11 and five wells drilled in the field by Texaco and others. The University Founders B-19 #1 will be drilled in Section 19 near the center of the lease acreage to confirm the pay zones previously seen in the Cactus well. Field operations would begin within 90 days and in line with the development agreement. Upon commencing new drilling operations, Torchlight would receive $500,000, which is the next installment per the original $50 million Farm In Agreement with the project operator.
The Rich A-11 well has been evaluated and numerous scientific tests were performed which provide key data for the field development thesis. During the testing process a poor cement bond was identified preventing a cost effective production test for the primary pay zones. Repair to the well bore necessary for a subsequent frac procedure was determined to be economically unfeasible. With the Rich A-11 designed as a test well rather than commercial target, a decision to begin plans for drilling the next well(s) with larger casing that utilized for future commercial production was made.
“We are pleased that the project operator is underway on next steps in evaluating our Orogrande Project,” stated Will McAndrew III, COO of Torchlight. “Drilling additional test wells is the appropriate next action, providing data necessary for validation of the play and the development plan for the entire 168,000 acres. Our principal strategy is to create control data by strategically placing wells across the acreage and thus creating a development thesis for the entire basin. The capital and expertise being provided by our operating partner has set the stage for continued value creation for Torchlight and our shareholders.”
About Torchlight Energy
Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The Company currently holds interests in Texas, Kansas and Oklahoma where their targets are established plays such as the Wolf Penn, Eagle Ford Shale, Mississippi Limestone and Hunton Limestone trends. For additional information on the Company, please visit www.torchlightenergy.com.
Forward Looking Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with the Company’s ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations Contact
Derek Gradwell
MZ Group
SVP Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us
(LSG) & (TAHO) Announce Business Combination
VANCOUVER, BRITISH COLUMBIA–(Feb. 8, 2016) – Tahoe Resources Inc. (“Tahoe”) (TSX:THO) (BVL:THO) (NYSE:TAHO) and Lake Shore Gold Corp. (“Lake Shore Gold”) (TSX:LSG) (NYSE MKT:LSG) are pleased to announce that they have entered into a definitive agreement (the “Arrangement Agreement”) whereby Tahoe will acquire all of the issued and outstanding shares of Lake Shore Gold (the “Transaction”). Under the terms of the Arrangement Agreement, all of the Lake Shore Gold issued and outstanding common shares will be exchanged on the basis of 0.1467 of a Tahoe common share per each Lake Shore Gold common share (the “Exchange Ratio”). Upon completion of the Transaction, existing Tahoe and Lake Shore Gold shareholders will own approximately 74% and 26% of the pro forma company, respectively, on a fully-diluted in-the-money basis.
The Exchange Ratio implies a consideration of C$1.71 per Lake Shore Gold common share, based on the closing price of Tahoe common shares on the Toronto Stock Exchange (TSX) on February 5, 2016, representing a 14.8% premium to the closing price of Lake Shore Gold on February 5, 2016 and a 28.6% premium to the closing share of Lake Shore Gold on February 4, 2016. Based on each company’s 20-day volume weighted average price on the TSX, the Exchange Ratio implies a premium of 25.7% and 30.4% to Lake Shore Gold common shares for the periods ending February 5, 2016 and February 4, 2016, respectively. The implied equity value (assuming the conversion of in-the-money convertible debentures) is equal to C$945 million.
Lake Shore Gold operates the low-cost Timmins West and Bell Creek mines in Timmins, Ontario, Canada. Together with Tahoe’s world class Escobal mine in Guatemala and its low-cost La Arena and Shahuindo mines in Peru, the combined company is firmly established as a premier Americas-based precious metals producer. With a diversified suite of low-cost, highly prospective assets and a quality pipeline of new development opportunities, Tahoe is well positioned to sustain and grow its production base. Further, with zero net debt, sector leading operating margins, and moderate capital requirements, the combined company will continue to generate strong free cash flows. Accordingly, following completion of the Transaction, Tahoe intends to continue its dividend of US$0.02 cents per share per month.
Highlights of the Transaction
Key investment highlights of the pro forma company include:
- A leading Americas based precious metals producer: The combined company will have a strong diversified producing platform anchored by the Escobal mine, one of the largest and highest grade silver mines globally, and low-cost growing operations in Peru and Ontario.
- Significant low-cost production: 2016 production guidance of 18-21 million ounces (mozs) of silver at total cash costs of US$7.50-US$8.50/oz and all-in sustaining costs (AISC) of US$10.00-US$11.00/oz and 370,000-430,000 ounces of gold at total cash costs of US$675-US$725/oz and AISC of US$950-US$1,000/oz. All operations generate free cash flow in the current commodity price environment.
- Low-risk growth: Growth to be driven by the expansion of Shahuindo to 36,000 tpd and the advancement of a number of growth initiatives in Timmins, including the ramp up of the 144 Gap Deposit, extending the Bell Creek mine to depth, and the potential for an open-pit mining operation at the Whitney project.
- Exciting exploration potential: Over 3.4 mozs of M&I gold resources and 6 mozs of inferred gold resources across 8 exploration projects in Peru and Canada with strong near-mine potential to add additional gold resources. Large unexplored land packages across all regions.
- Strong balance sheet and superior financial performance: Zero net debt, modest capital requirements and strong free cash flow generation from operations provide industry leading financial strength and flexibility.
Kevin McArthur, Executive Chair of Tahoe, said, “The combination with Lake Shore Gold enhances Tahoe’s position as the new leader in precious metals by adding another low-cost operation in Timmins, one of the most prolific gold camps in the world. We are impressed by the long-term presence and see tremendous regional opportunities going forward. We look forward to continuing the strong relationships that Lake Shore Gold has fostered in Timmins with local stakeholders. Finally, I am very pleased to welcome Alan Moon, the current Chair of Lake Shore Gold, to our Board of Directors upon completion of the Transaction, as well as Tony Makuch, the current CEO of Lake Shore Gold, to Tahoe’s management team as President of Canadian Operations.”
Tony Makuch, President and CEO of Lake Shore Gold, stated, “The combination with Tahoe represents a unique opportunity for our shareholders to gain exposure to a high-quality portfolio of long life producing mines with substantial mineral reserves. Today’s announcement of an initial resource at our 144 Gap Deposit is a perfect example of the long-term growth potential of our Timmins portfolio. Tahoe’s strong balance sheet and superior cash generating capabilities will provide Lake Shore Gold with the financial resources to unlock the enormous growth potential of our asset base.”
Benefits to Tahoe Shareholders
- Establishes a significant presence in Canada with well-established, low-cost operations, and a talented and focused management team.
- Enhanced high-margin gold production with organic growth opportunities.
- Strengthens Tahoe’s ability to generate strong free cash flow on a per share basis.
- Addition of significant exploration potential at existing operations as well as attractive targets in close proximity to established, well-built mining and milling infrastructure.
- Positions Tahoe to evaluate further consolidation opportunities in Ontario.
Benefits to Lake Shore Gold Shareholders
- Immediate up-front premium while maintaining meaningful equity participation.
- Superior financial strength and flexibility to support advancement of Timmins projects.
- Exposure to a large, long-life reserve base pro forma through Tahoe’s world-class Escobal mine and growing low-cost platform in Peru.
- Expands operational capabilities, adding proven expertise in open pit mining.
- Access to an attractive dividend policy.
- Increased trading liquidity, enhanced value proposition and capital markets profile.
Board of Directors’ Recommendations
The Arrangement Agreement has been unanimously approved by the Boards of Directors of Tahoe and Lake Shore Gold, and each board recommends that their respective shareholders vote in favor of the Transaction.
GMP Securities L.P. and BMO Capital Markets have provided opinions to the Board of Directors of Tahoe and to the Lake Shore Gold Special Committee, respectively, stating that, and based upon and subject to the assumptions, limitations, and qualifications set forth therein, the consideration offered pursuant to the Transaction is fair, from a financial point of view, to the Tahoe shareholders and Lake Shore Gold shareholders, respectively.
Transaction Summary
The proposed business combination will be effected by way of a Plan of Arrangement completed under the Canada Business Corporations Act. The Transaction will require approval by 66 2/3 percent of the votes cast by the shareholders of Lake Shore Gold at a special meeting of Lake Shore Gold shareholders. The issuance of Tahoe common shares in connection with the Transaction will require the approval of a simple majority of the shareholders of Tahoe voting at a special meeting. Officers and directors of Lake Shore Gold and Tahoe intend to enter into voting support agreements, pursuant to which they will vote their common shares held in favor of the Transaction. In addition to shareholder and court approvals, the Transaction is subject to applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature.
The Arrangement Agreement includes customary provisions including non-solicitation provisions, a right to match any superior proposal and a C$37.8 million termination fee payable to Tahoe under certain circumstances. A C$20.0 million termination fee is payable to Lake Shore Gold under certain circumstances.
A change of control offer will be made for Lake Shore Gold’s outstanding 6.25% convertible senior unsecured debentures (the “Debentures”) in accordance with their trust indenture dated September 7, 2012. During the 30 day period following the effective date of the Arrangement Agreement, Debenture holders will receive notice (the “Debenture Change of Control Notice”) stating that a change of control has occurred along with an offer to purchase the Debentures at 100% of the principal amount plus accrued and unpaid interest on the date that is 30 business days following delivery of the Debenture Change of Control Notice. As part of the Arrangement Agreement, Lake Shore Gold has agreed not to purchase any of its outstanding securities. Accordingly, Lake Shore Gold is suspending its normal course issuer bid for the Debentures.
Timing
Full details of the Transaction will be included in the management information circulars of Tahoe and Lake Shore Gold and are expected to be mailed to their respective shareholders in early March 2016. It is anticipated that both shareholder meetings and closing of the Transaction will take place in early April 2016.
Advisors and Counsel
GMP Securities L.P. and Canaccord Genuity Corp. acted as financial advisors to Tahoe and McMillan LLP acted as its legal advisor.
BMO Capital Markets acted as financial advisor to Lake Shore Gold. Cassels, Brock & Blackwell LLP acted as Lake Shore Gold’s legal advisor.
Conference Call
Tahoe and Lake Shore Gold will host a joint conference call on Monday, February 8, 2016 at 1:30 p.m. Eastern Time, or 10:30 a.m. Pacific, for members of the investment community to discuss the transaction. The call-in details are as follows:
- Canada & USA toll-free: 1-800-319-4610
- Outside of Canada & USA: 1-604-638-5340
A copy of the merger investor presentation is also available on the Tahoe and Lake Shore Gold investor pages at www.tahoeresourcesinc.com/merger and www.lsgold.com, respectively. An audio recording of the conference call will be made available shortly after the call on the Tahoe and Lake Shore Gold investor pages.
About Tahoe
Tahoe’s strategy is to responsibly operate precious metals mines in the Americas and to deliver long-term shareholder value through share price appreciation, shareholder dividends and bottom-line growth. Tahoe is a member of the S&P/TSX Composite and TSX Global Mining indices and the Russell 3000 on the NYSE. Tahoe is listed on the TSX and BVL as THO and on the NYSE as TAHO.
In accordance with IFRS requirements Tahoe is conducting an annual review of the carrying value of its assets, including goodwill, for possible impairment charges in the fourth quarter. The analysis, which is dependent upon various assumptions including metal price forecasts over the remaining life of the assets, is expected to be finalized in Q1 for inclusion in the fourth quarter financial results.
About Lake Shore Gold
Lake Shore Gold is a Canadian-based gold producer with operations based in the Timmins Gold Camp of Northern Ontario. Lake Shore Gold produces gold from two mines, Timmins West and Bell Creek, with material being delivered for processing to the Bell Creek Mill. In addition to current mining and milling operations, Lake Shore Gold also has a number of highly prospective projects and exploration targets, all located in and around the Timmins Camp. Lake Shore Gold’s common shares trade on the TSX and NYSE MKT under the symbol LSG.
Qualified Person Statement
The technical and scientific information contained in this news release has been reviewed and approved by Charlie Muerhoff, Tahoe’s Vice President Technical Services and Qualified Person as defined by National Instrument 43-101 (NI 43-101) and Eric A. Kallio, P.Geo., Lake Shore Gold’s Senior Vice President of Exploration and a Qualified Person according to the definitions of NI 43-101.
Cautionary Notes
This press release includes certain non-GAAP financial measures throughout this document which include total cash costs and all-in sustaining costs per silver and per gold ounce. These measures are not defined under IFRS and should not be considered in isolation. Further information regarding the use of these measures and quantitative reconciliations from such non GAAP financial measures to the most directly comparable measure presented in each company’s financial statements are provided in Tahoe’s press release dated January 14, 2016 and are referenced in Lake Shore Gold’s press release dated January 8, 2016.
Forward-Looking Statements
This release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively referred to as “forward-looking statements”). All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements include, but are not limited to, statements or information related to: the expected benefits of the Transaction and the details related to the expected completion of the Transaction; the Company’s dividend policy following completion of the Transaction; 2016 operations outlook and production guidance for both Tahoe and Lake Shore Gold, including estimated unit costs per ounce of silver and gold and estimated capital costs; and the expected change of control offer for the Lake Shore Gold convertible debentures.
Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: obtaining shareholder, regulatory and court approvals, and the timing therefor; the Tahoe and Lake Shore Gold’s ability to carry on exploration and development activities, including construction; the timely receipt of required approvals; the price of silver, gold and other metals; prices for key mining supplies, including labor costs and consumables, remaining consistent with the Company’s current expectations; production meeting expectations and being consistent with estimates; plant, equipment and processes operating as anticipated; there being no material variations in the current tax and regulatory environment; the Company’s ability to operate in a safe, efficient and effective manner; the exchange rates among the Canadian dollar, Guatemalan quetzal, Peruvian nuevo sol and the United States dollar remaining consistent with current levels; and the Company’s ability to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include but are not limited to: the Company’s dependence on the Escobal and La Arena mines; the fluctuation of the price of silver, gold and other metals; changes in national and local government legislation, taxation and controls or regulations; social unrest, and political or economic instability in Guatemala and/or Peru; the availability of additional funding as and when required; the speculative nature of mineral exploration and development; the timing and ability to maintain and, where necessary, obtain necessary permits and licenses; the uncertainty in the estimation of mineral resources and mineral reserves; the uncertainty in geologic, hydrological, metallurgical and geotechnical studies and opinions; infrastructure risks, including access to water and power; the impact of inflation; changes in the administration of governmental regulation, policies and practices; environmental risks and hazards; insurance and uninsured risks; land title risks; risks associated with illegal mining activities by unauthorized individuals on the Company’s mining or exploration properties; risks associated with competition; risks associated with currency fluctuations; contractor, labor and employment risks; dependence on key management personnel and executives; the timing and possible outcome of pending or threatened litigation; the risk of unanticipated litigation; risks associated with the repatriation of earnings; risks associated with negative operating cash flow; risks associated with the Company’s hedging policies; risks associated with dilution; and risks associated with effecting service of process and enforcing judgments. For a further discussion of risks relevant to the Company, see the Company’s Annual Information Form available on SEDAR under the heading “Description of Our Business – Risk Factors”.
Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There is no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except as, and to the extent required by, applicable securities laws.
Tahoe Resources Inc.
Ira M. Gostin
Vice President Investor Relations
775-448-5807
investors@tahoeresourcesinc.com
Lake Shore Gold Corp.
Tony Makuch
President & CEO
(416) 703-6298
Lake Shore Gold Corp.
Mark Utting
Vice-President, Investor Relations
(416) 703-6298
www.lsgold.com
(TATT) Reports Joint Venture Announcement
GEDERA, Israel, February 8, 2016 —
TAT Technologies Ltd. (NASDAQ: TATT) (“the Company”), a leading provider of services and products for the commercial and military aerospace and ground defense industries, announced today that it has signed an agreement with Engineering Holding of Moscow, Russia, to establish a new maintenance facility for heat exchangers. The new company, TAT-Engineering LLC, will be based in Novosibirsk’s Tolmachevo airport.
Mr. Itsik Maaravi, TAT Technologies Ltd. President and CEO said, “We are proud of this joint venture with Engineering Holding. It enables us to expand our capabilities and offer local support for our customers in the CIS region. This would be an additional activity for our company in Eastern Europe and Russia, a market where we already deliver our Heat Management solutions. The combination of our vast experience in heat exchangers maintenance with the strength and reputation of the largest aircraft maintenance station in Russia will enable us to provide a timely and competitive service for our customers in the region.”
About TAT Technologies LTD
TAT Technologies Ltd. is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under four segments: (i) Original Equipment Manufacturing or “OEM” of Heat Management Solutions (ii) Heat Transfer Services and Products (iii) Maintenance, Repair and Overhaul or “MRO” services of Aviation Components; and (iv) overhaul and coating of jet engine components.
TAT’s activities in the area of OEM Heat Management Solutions are focused on the design, development, manufacture, and sale of the following: (i) a broad range of heat transfer components includings heat exchangers, pre-coolers and oil/fuel hydraulic coolers used in mechanical and electronic systems on-board commercial, military and business aircraft; (ii) environmental control and cooling systems on board aircraft and for ground applications; and (iii) a variety of other electronic and mechanical aircraft accessories and systems such as pumps, valves, power systems and turbines.
TAT’s activities in the area of Heat Transfer Services and Products include the maintenance, repair and overhaul of heat transfer equipment and to a lesser extent, the manufacture of certain heat transfer product parts. TAT’s Limco subsidiary operates an FAA certified repair station, which provides heat transfer MRO services and products for airlines, air cargo carriers, maintenance service centers and the military.
TAT’s activities in the area of MRO services for Aviation Components include the maintenance, repair and overhaul of APUs, Landing Gears and other aircraft components. TAT’s Piedmont subsidiary operates an FAA certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.
TAT’s activities in the area of jet engine overhaul includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes, afterburner flaps and other components.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which include, without limitation, statements regarding possible or assumed future operation results. These statements are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause our results to differ materially from management’s current expectations. Actual results and performance can also be influenced by other risks that we face in running our operations including, but are not limited to, general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, the price and continuity of supply of component parts used in our operations, the change of control that will occur on the sale by the receiver of the Company’s shares held by our previously controlling stockholders, and other risks detailed from time to time in the company’s filings with the Securities Exchange Commission, including, its annual report on form 20-F and its periodic reports on form 6-K. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.
For more information of TAT Technologies, please visit our web-site: http://www.tat-technologies.com
Guy Nathanzon – CFO
TAT Technologies Ltd.
Tel: +972-8-862-8500
GuyN@tat-technologies.com
(GOLD) Bucks Industry Trend to Deliver Record Production for 2015
JERSEY, CHANNEL ISLANDS–(Feb 8, 2016) – Randgold Resources (LSE: RRS) (NASDAQ: GOLD)
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
RANDGOLD BUCKS INDUSTRY TREND TO DELIVER RECORD PRODUCTION FOR 2015
Cape Town, Monday 8 February 2016 – Randgold Resources chief executive Mark Bristow today described 2015 as one of the best years in the company’s history as it faced down the challenges surrounding the embattled gold mining industry to post performance improvements and advances on every front
Production and costs were in line with the company’s annual guidance, with production setting a new record of more than 1.2 million ounces, up 6% on the previous year, and group total cash cost per ounce down by 3% at $679/oz. Strong cash flows from the operations boosted cash on hand by 158% to $213.4 million but profit for the year was $212.8 million against the previous year’s $271.2 million, reflecting the decline in the gold price. The board has proposed a 10% increase in the annual dividend, reflecting the strong cash flows generated by the business.
“It’s easy to achieve when the stars are all aligned but it’s a lot more difficult in a market as challenged as this one, which makes these results even more pleasing,” Bristow said. He attributed the company’s robust showing to improved plant throughput, ore feed and grade management; reduced underground mining costs at Loulo following its transition from contract mining to owner mining; lower input costs; and improved efficiencies across all operations.
Bristow said Randgold had reviewed all its mine plans in the light of current conditions and with a focus on true returns and break-even cash flows. As a result of this, Loulo-Gounkoto and Kibali now both forecast annual production of +600 000 ounces at a total cash cost of around $600 per ounce or below, Loulo-Gounkoto for 10 years and Kibali for 12, while Tongon was forecasting to produce an average of more than 300 000 ounces for five years.
Operationally, Loulo-Gounkoto came back strongly in 2015 after a shaky start to the year while Kibali again beat its forecast. Tongon continues to improve its performance on the back of its plant upgrade and expansion programme and the retreatment operation at Morila, now scheduled for closure in 2019, remains profitable.
Bristow said Randgold continued to invest substantially in exploration, which remains the engine that drives its business and is expanding its footprint in its target areas, as well as in its sustainability programmes, which it regards as essential to retaining its social licence without which no mining company can operate successfully in Africa.
“Randgold is now in a unique position to continue delivering value to all its stakeholders. Our mines can continue to generate cash flows at gold prices well below the $1 000/oz level. Our positive production and cost profile extends beyond 10 years. Our exploration teams are not only replenishing the ounces we mine but are making significant progress in the hunt for our next big discovery. And when they find it, we can afford to build our next new mine without recourse to the market, thanks to our robust balance sheet,” he said.
RANDGOLD ENQUIRIES:
| Chief Executive Mark Bristow +44 788 071 1386 +44 779 775 2288 |
Financial Director Graham Shuttleworth +44 1534 735 333 +44 779 771 1338 |
Investor & Media Relations Kathy du Plessis +44 20 7557 7738 Email: randgold@dpapr.com |
Website: www.randgoldresources.com
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/3093O_1-2016-2-7.pdf
RNS
Customer
Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com
(NVCR) Phase 3 Pivotal Glioblastoma Trial Results Selected For Major Cancer Report
Novocure’s (NASDAQ: NVCR) phase 3 pivotal clinical trial results of Tumor Treating Fields (TTFields) in combination with temozolomide in newly diagnosed glioblastoma (GBM) have been selected for inclusion in the American Society of Clinical Oncology’s Clinical Cancer Advances 2016: Annual Report on Progress Against Cancer. The report, which was published first online on Feb. 4 in the Journal of Clinical Oncology, reviews the recent top advances and emerging trends in clinical cancer research that are leading to improved cancer treatments for patients.
“Clinical Cancer Advances 2016 represents and acknowledges the collective wisdom that has made progress against cancer possible,” ASCO President Julie M. Vose wrote in the report. “I hope these achievements will inspire all of us to do our part to further accelerate the pace of research and discovery to help millions of people who are living with cancer and the millions more who will face a cancer diagnosis in their lifetime.”
Novocure’s phase 3 pivotal trial compared TTFields therapy in combination with temozolomide to temozolomide alone in 695 patients with newly diagnosed GBM. The trial met its endpoints at the interim analysis. The trial’s results demonstrated superior progression-free and overall survivals in patients receiving TTFields therapy in combination with temozolomide compared to temozolomide alone (median progression-free survival of 7.2 months compared to 4.0 months, hazard ratio=0.62, p=0.001; median overall survival of 20.5 months compared to 15.6 months, hazard ratio=0.66, p=0.004).
In October 2015, the U.S. Food and Drug Administration approved Optune – a portable, non-invasive device that delivers TTFields – in combination with temozolomide for the treatment of adult patients with newly diagnosed glioblastoma. TTFields are the first FDA-approved therapy in more than a decade to demonstrate statistically significant extension of overall survival in newly diagnosed GBM, with a two-year survival of 48 percent versus 32 percent compared to temozolomide alone.
“We are honored that our research has been selected as a top advancement in cancer care by ASCO, a leading organization in oncology research and education,” said Novocure CEO Asaf Danziger. “Such advancements are critical to improving treatment and extending the lives of cancer patients. We are proud to receive this designation and believe it will help raise awareness of the benefits of TTFields therapy within the broader oncology community.”
About Novocure
Novocure is a Jersey Isle oncology company pioneering a novel therapy for solid tumors called TTFields. Novocure’s U.S. operations are based in Portsmouth, New Hampshire, and New York City. Additionally, the company has offices in Germany, Switzerland, and Japan and a research center in Haifa, Israel. For additional information about the company, please visit www.novocure.com or follow us at www.twitter.com/novocure.
Forward-Looking Statements
In addition to historical facts or statements of current condition, this press release may contain forward-looking statements. Forward-looking statements provide Novocure’s current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, development of potential products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” or other words and terms of similar meaning. Novocure’s performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions as well as more specific risks and uncertainties facing Novocure such as those set forth in its Quarterly Report on Form 10-Q filed on Oct. 27, 2015, with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, Novocure does not intend to update publicly any forward-looking statement, except as required by law. Any forward-looking statements herein speak only as of the date hereof. The Private Securities Litigation Reform Act of 1995 permits this discussion.
Media and Investor Contact:
Novocure
Ashley Cordova, 212-767-7558
acordova@novocure.com
(SIEN) Announces Return of All Products to U.S. Market
SANTA BARBARA, Calif., Feb. 08, 2016 — Sientra, Inc. (NASDAQ:SIEN) (“Sientra” or the “Company”), a medical aesthetics company, today announced all of its medical devices, including all Sientra breast implant products, will return to the U.S. market beginning March 1, 2016.
Sientra is taking this action subsequent to the completion of extensive independent, third-party testing and analyses of its products in the U.S. Under worst-case testing conditions, the products exhibit a high safety margin compared to numerous U.S. and international standards for medical device and materials safety. The conclusive results of our testing indicate no anticipated significant safety concerns with the use of Sientra products, including our breast implants, consistent with their approval status since 2012.
Jeffrey Nugent, Chairman and Chief Executive Officer of Sientra, said, “We are extremely pleased to return our products to the U.S. market where we can once again provide choice to board-certified plastic surgeons. Our decision to place the voluntary hold on Sientra products was difficult, but we felt it was the responsible action to take at the time amid the speculation, to ensure that Sientra products remain a safe choice for our customers and their patients. Following the results of independent, third-party testing, we are more confident than ever in the safety of our devices, and specifically our breast implant products, which are further supported by our 9-year clinical study data to be published in April of 2016. In terms of the confirmation of our manufacturing supply initiatives, we are confident that our resupply process will be in place in sufficient time to assure our customers of uninterrupted supply.”
Sientra has also sent a letter to its surgeons informing them of the Company’s market re-entry plans. A copy of that letter can be found in the Investor Relations section of Sientra’s web site or by clicking here.
About Sientra
Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company committed to making a difference in patients’ lives by enhancing their body image, growing their self-esteem and restoring their confidence. The Company was founded to provide greater choice to board-certified plastic surgeons and patients in need of medical aesthetics products. The Company has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company sells its breast implants and breast tissue expanders exclusively to board-certified and board-admissible plastic surgeons and tailors its customer service offerings to their specific needs. The Company also offers a range of other aesthetic and specialty products.
Forward-looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, relating to, among other things, the future performance of Sientra that are based on management’s current assumptions and expectations of future events and involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements regarding: the exact date that Sientra’s products will return to the U.S. market, the interpretation of the results of the third-party independent testing of Sientra’s products, actions that the FDA may take in response to such matters and the timing and availability of sources of supply. Such statements are subject to risks and uncertainties. The Company’s business, strategy, operations or financial performance, and actual results may differ materially from those predicted or implied. All statements other than statements of historical fact are forward-looking statements. The words ”believe,” ”may,” ”might,” ”could,” ”will,” ”aim,” ”estimate,” ”continue,” ”anticipate,” ”intend,” ”expect,” ”plan,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements.
More information about factors that could cause actual results to differ materially from those contemplated in this press release can be found under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent Quarterly Report on Form 10-Q at http://investors.sientra.com/financial-info/sec-filings/default.aspx or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to the Company on the date hereof, and except to the extent required by law, Sientra assumes no obligation to update such statements.
Contact Investor Contacts: The Ruth Group Nick Laudico / Brandon Vazquez (646) 536-7030 / 7032 IR@Sientra.com
(AUPH) Preliminary Topline Data From its Open Label Aurion Study in Lupus
100% of Patients receiving multi-target therapy with voclosporin achieved at least a 25% reduction of proteinuria at 8 weeks with a mean decrease of 72%
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH / TSX:AUP) (“Aurinia” or the “Company”) announced today that it has completed a preliminary analysis of its AURION (Aurinia early Urinary protein Reduction Predicts Response) study. In the first seven patients that have reached at least eight weeks of therapy in the AURION study, 100% (7/7) have achieved at least a 25% reduction in proteinuria compared to study entry. A 25% reduction in proteinuria has been shown to be predictive of a positive clinical response at 24weeks1. All of the other pre-specified eight week biomarkers of active lupus nephritis (LN) have also improved and are trending towards normalization. These biomarkers have also been shown to be predictive of a positive clinical response at 24 weeks1.
In the first eight weeks of a 48 week regimen of multi-target therapy including voclosporin in AURION, an overall mean reduction of proteinuria of 72% compared to pre-treatment levels was observed, and 57% (4/7) of these patients achieved complete remission as defined by a urinary protein creatinine ratio of ≤ 0.5mg/mg. Overall renal function as measured by eGFR in these patients has remained stable.
The AURION study is an open label, single arm, exploratory study assessing the ability of biomarkers at 8 weeks to predict clinical response rates at 24 and 48 weeks in subjects taking voclosporin 23.7mg twice daily in combination with standard of care, mycophenolate mofetil and corticosteroids, in patients with active LN.
“We are encouraged by these results. This is the first time voclosporin has been used in this particular patient population.” said Dr. Neil Solomons, MD, Chief Medical Officer of Aurinia Pharmaceuticals Inc. “It appears that this data supports our hypothesis that utilizing a multi-targeted approach to treating LN with voclosporin can help patients suffering from this disease. We are very excited to see the results from the 265 patient AURA study later this year.”
The Company will continue to review the AURION data and release more information as it becomes available, a webcast has been scheduled for Tuesday February 16th, 2016 at 4:30pm Eastern Standard Time. Interested parties can join the webcast at the specified time at the following URL: http://public.viavid.com/index.php?id=118297
1Dall’Era, M., Stone, D., Levesque, V., Cisternas,M., & Wofsy, D. (2011).Arthritis Care and Research, 63(3), 351–357.
About Aurinia
Aurinia is a clinical stage pharmaceutical company focused on the global nephrology market. The fully-enrolled Phase 2b AURA-LV clinical trial is evaluating the efficacy of its lead drug, voclosporin, as a treatment for active LN. LN is an inflammation of the kidneys, that if inadequately treated can lead to end-stage renal disease, making LN a serious and potentially life-threatening condition.
Voclosporin is a novel and potentially best-in-class calcineurin inhibitor (“CNI”) with extensive clinical data in over 2,000 patients in other indications. Voclosporin is made by a modification of a single amino acid of the cyclosporine molecule (a CNI approved for use in transplant patients since 1983). This modification results in a more predictable pharmacokinetic and pharmacodynamic relationship, an increase in potency vs. cyclosporine, an altered metabolic profile, and potential for flat dosing.
About AURA:
The AURA–LV study or “Aurinia Urine Protein Reduction in Active Lupus Nephritis Study” is an adequate and well-controlled clinical trial that enrolled 265 patients and is being conducted in over 20 countries worldwide. This trial will compare the efficacy of voclosporin against placebo in achieving remission in patients with active lupus nephritis. The AURA-LV study is designed to demonstrate that voclosporin can induce a rapid and sustained reduction of proteinuria in the presence of extremely low steroid exposure. It will compare two dosage groups of voclosporin (23.7mg and 39.5mg) compared to placebo, with all patients receiving mycophenolate mofetil (MMF) and oral corticosteroids as background therapy. There will be a primary analysis to determine complete remission at week 24 (confirmed at 26 weeks) and various secondary analyses at week 48 which include biomarkers and markers of non-renal SLE.
About AURION:
The AURION study or “Aurinia Early Urinary Protein Reduction Predicts Response Study” is an open label, exploratory study being conducted in multiple sites in Malaysia to assess the short term predictors of response using voclosporin (23.7mg) in combination with mycophenolate mofetil and oral corticosteroids in patients with active lupus nephritis. This study will examine biomarkers of disease activity at 8 weeks and their ability to predict response at 24 and 48 weeks.
We seek Safe Harbor.
Aurinia Pharmaceuticals Inc.
Mr. Michael Martin, 250-708-4272
Chief Operating Officer
mmartin@auriniapharma.com
or
Renmark Financial Communications Inc.
Barry Mire: bmire@renmarkfinancial.com
Laura Welsh: lwelsh@renmarkfinancial.com
Tel: 416-644-2020 or 514-939-3989
(CLCD) to Ring The Nasdaq Stock Market Closing Bell
ADVISORY, Feb. 05, 2016 —
What:
CoLucid Pharmaceuticals, Inc. (Nasdaq:CLCD), a Phase 3 clinical-stage biopharmaceutical company that is developing its lead product candidate, lasmiditan, for the acute treatment of migraine headaches, will visit the Nasdaq MarketSite in Times Square.
In honor of the occasion, Thomas P. Mathers, Chief Executive Officer, will ring the Closing Bell.
Where:
Nasdaq MarketSite – 4 Times Square – 43rd & Broadway – Broadcast Studio
When:
Monday, February 8, 2016 – 3:45 p.m. to 4:00 p.m. ET
CoLucid Pharmaceuticals Media Contact:
Hans Vitzthum
(212) 915-2568
hans@lifesciadvisors.com
Nasdaq MarketSite:
Emily Pan
(646) 441-5120
emily.pan@nasdaq.com
Feed Information:
Fiber Line (Encompass Waterfront): 4463
Gal 3C/06C 95.05 degrees West
18 mhz Lower
DL 3811 Vertical
FEC 3/4
SR 13.235
DR 18.295411
MOD 4:2:0
DVBS QPSK
Social Media:
For multimedia features such as exclusive content, photo postings, status updates and video of bell ceremonies please visit our Facebook page at:
http://www.facebook.com/NASDAQ.
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For news tweets, please visit our Twitter page at:
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Webcast:
A LiveStream of the Nasdaq Closing Bell will be available at:
https://new.livestream.com/nasdaq/live or http://www.nasdaq.com/about/marketsitetowervideo.asx
Photos:
To obtain a hi-resolution photograph of the Market Close, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market close of your choice.
About CoLucid Pharmaceuticals, Inc.
CoLucid is developing oral lasmiditan for the acute treatment of migraine headaches in adults and intravenous lasmiditan for the acute treatment of headache pain associated with migraine in adults in the emergency room and other urgent care settings.
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,700 listed companies with a market value of approximately $9.6 trillion and nearly 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.
(DHRM) Announces Corporate Restructuring Plan
BEIJING, Feb. 5, 2016 — Dehaier Medical Systems Ltd. (Nasdaq: DHRM) (“Dehaier Medical” or the “Company”), which develops, markets and sells medical devices and wearable sleep respiratory products in China and international markets, today announced its corporate and business restructuring plan which aims to concentrate the Company’s resources to develop its mobile health business, including wearable sleep respiratory business and to focus more on its major businesses. As of this announcement, the Company has officially launched the business and corporate restructuring process.
As part of the restructuring, the Board of Directors of the Company directed the Company to set up a wholly owned subsidiary, Connection Wearable Health Technology (Beijing) Co., Ltd. (“CWHT”), in Beijing. The Company is conducting related procedures to establish CWHT and it anticipates the process to be completed by the end of February 2016. After its incorporation, CWHT will conduct wearable sleep respiratory and mobile health related businesses. On the other hand, Beijing Dehaier Medical Technology Co., Ltd. (“BDL”) will focus on remaining profitable medical device sales, collection of existing accounts receivable, selling off remaining inventory, management and maintenance of intellectual property assets and certifications of all subsidiaries of the Company.
The Company expects to continue scaling down and discontinuing, as appropriate, its unprofitable medical device business, including assembly and sales of X-ray machines and anesthesia machines. The Company plans to maintain only a few profitable businesses such as sales of its patented medical air compressors and cardiopulmonary resuscitation (“CPR”) instruments in the future.
On January 14, 2016, the Company completed an acquisition of 0.8% equity interest of BDL from Beijing Dehaier Technology Co., Ltd. (“BTL”). The Company now holds 100% of the equity interest of BDL. This change reflects BTL’s reduced reliance on business with BDL in providing repair and maintenance services.
Mr. Ping Chen, CEO of the Company commented to the restructuring plan, “We believe these changes are crucial to improve our competitiveness over the longer term. By restructuring our Company to reduce our reliance on our less profitable medical devices assembly and distribution businesses, we will be more able to leverage our resources to develop smart health products and services, which we see as the future of our Company. Our long-term goal is to gradually decrease our production business, and focus instead on developing a complete mobile health operation platform as well as a supply chain management platform by utilizing the products produced by third parties. ”
About Dehaier Medical Systems Ltd.
Dehaier Medical is an emerging leader in the development, marketing and sale of medical products, including medical devices and wearable sleep respiratory products in China and international markets. The company develops and assembles its self-branded medical devices and sleep respiratory products from third-party components. The company also distributes products designed and manufactured by other companies, including medical devices from HEYER (Germany) and Timesco (UK). Dehaier Medical’s technology is based on six patents and eleven software copyrights. More information may be found at http://www.dehaier.com.cn.
Forward-looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, fulfillment of bids and contracts, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
Dehaier Medical Systems Limited
Janice Wang
+86 10-5166-0080 ext. 211
investors@dehaier.com.cn
(CHRS) to Present at Bloomberg Intelligence Healthcare Event on February 12th
REDWOOD CITY, Calif., Feb. 05, 2016 — Coherus BioSciences, Inc. (Nasdaq:CHRS), a leading pure-play, global biosimilars company with late-stage clinical products, today announced that Denny Lanfear, President and Chief Executive Officer, will be a featured speaker at the 4th Annual Bloomberg Intelligence Healthcare Event.
The discussion will be held on Friday, February 12 starting at 2:00 pm ET in New York City. Information regarding the event is available at www.bloomberglp.com/healthcareevent2016.
About Coherus BioSciences, Inc.
Coherus is a leading pure-play global biosimilar platform company that develops and commercializes high-quality therapeutics for major regulated markets. Biosimilars are intended for use in place of existing, branded biologics to treat a range of chronic and often life-threatening diseases, with the potential to reduce costs and expand patient access. Composed of a team of proven industry veterans with world-class expertise in process science, analytical characterization, protein production and clinical-regulatory development, Coherus is positioned as a leader in the global biosimilar marketplace. Coherus is advancing three late-stage clinical products towards commercialization, CHS-1701 (pegfilgrastim biosimilar), CHS-0214 (etanercept biosimilar) and CHS-1420 (adalimumab biosimilar), as well as developing a robust pipeline of future products. For additional information, please visit www.coherus.com.
INVESTOR AND MEDIA CONTACT: Keith Vendola, M.D. Investor Relations Coherus BioSciences, Inc. kvendola@coherus.com +1 (650) 437-6239
(LSG) Comments on Trading Activity
TORONTO, ONTARIO–(Feb. 5, 2016) – Lake Shore Gold Corp. (TSX:LSG) (NYSE MKT:LSG) (“Lake Shore Gold” or the “Company“) is issuing this press release in response to a request by market regulation services to comment on recent trading activity in its stock. The Company has also become aware of speculation concerning a potential transaction involving the Company.
As a general policy, the Company does not publicly comment on market speculation and rumours. The Company is not aware of any material, undisclosed corporate developments that would account for recent trading in its stock. The Company will continue to keep the market informed as required but does not intend to make any further comment or release regarding market speculation.
About Lake Shore Gold
Lake Shore Gold is a Canadian-based gold producer with operations based in the Timmins Gold Camp of Northern Ontario. The Company produces gold from two mines, Timmins West and Bell Creek, with material being delivered for processing to the Bell Creek Mill. In addition to current mining and milling operations, the Company also has a number of highly prospective projects and exploration targets, all located in and around the Timmins Camp. The Company’s common shares trade on the TSX and NYSE MKT under the symbol LSG.
Forward-looking Statements
Certain statements in this press release relating to the Company, particularly in respect of any potential transaction being agreed, are “forward-looking statements” or “forward-looking information” within the meaning of certain securities laws, including under the provisions of Canadian provincial securities laws and under the United States Private Securities Litigation Reform Act of 1995 and are referred to herein as “forward-looking statements.”
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements unless required by applicable securities laws. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in the Company’s most recent Annual Information Form and other regulatory filings with the Canadian Securities Administrators, which are posted on SEDAR at www.sedar.com, or the Company’s most recent Annual Report on Form 40-F and other regulatory filings with the Securities and Exchange Commission.
Lake Shore Gold
Tony Makuch
President & CEO
(416) 703-6298
Lake Shore Gold
Mark Utting
Vice-President, Investor Relations
(416) 703-6298
www.lsgold.com
(SPI) Expands Its Electric Vehicle Rental Business in Southern China
SHANGHAI, Feb. 5, 2016 — SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (Nasdaq: SPI), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, today announced that its majority-owned subsidiary, Beijing Yiwei New Energy Technology Development Company (“Yiwei”), has expanded its business into China’s southern province of Hainan. The Internet-based electric vehicle (EV) rental service provider, which has existing operations in Beijing and Shenzhen, is expanding to Hainan, which is expected to see a spike in tourism during the upcoming Chinese New Year holiday.
Xiaofeng Peng, Chairman of SPI Energy said, “Every year more Chinese people are choosing to drive cars to explore the country during the Chinese New Year holiday. This year SPI Energy is pleased to offer EV rental solutions for environmentally conscious travelers visiting China’s popular coastal province of Hainan. With increasing government support and business investment, there are now EV charging facilities across China that are encouraging more people to rent and purchase EVs.”
SPI Energy closed its investment of RMB30 million for a 60% stake in Yiwei in January 2016 and is leveraging its Solarbao.com platform to help Yiwei expand its existing fleet of EVs and EV chargers in China. Users can book the EVs through Yiwei’s website or mobile app.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. SPI Energy focuses on the downstream PV market including the development, financing, installation, operation and sale of utility-scale and residential solar power projects in China, Japan, Europe and North America. The Company operates an innovative online energy e-commerce and investment platform, www.solarbao.com, which enables individual and institutional investors to purchase innovative PV-based investment and other products; as well as www.solartao.com, a B2B e-commerce platform offering a range of PV products for both upstream and downstream suppliers and customers. The Company has its operating headquarters in Shanghai and maintains global operations in Asia, Europe, North America and Australia.
For additional information visit: www.spisolar.com, www.solarbao.com or www.solartao.com.
Safe Harbor Statement
This release contains certain “forward-looking statements.” These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. All forward-looking statements included in this release are based upon information available to the Company as of the date of this release, which may change, and the Company undertakes no obligation to update or revise any forward-looking statements, except as may be required under applicable securities law.
Contact:
Amy Liu
US cell: (800) 548 8767
(IMMU) FDA Grants Breakthrough Therapy Designation to Immunomedics
MORRIS PLAINS, N.J., Feb. 05, 2016 — Immunomedics, Inc., (Nasdaq:IMMU) today announced that its lead investigational antibody-drug conjugate, sacituzumab govitecan, or IMMU-132, has received Breakthrough Therapy Designation from the FDA for the treatment of patients with triple-negative breast cancer (TNBC) who have failed at least 2 prior therapies for metastatic disease.
The Breakthrough Therapy Designation was supported by a Phase 2 study in patients with metastatic TNBC who had received a median of 5 prior therapies (range, 2 – 12).
“We believe Breakthrough Therapy Designation for IMMU-132 further validates this potential therapeutic for patients with TNBC, and we are delighted to receive this important recognition,” commented Cynthia L. Sullivan, President and Chief Executive Officer. “We continue to assess partnering opportunities while completing the scale-up manufacturing and regulatory activities for an international, randomized, controlled, registration trial in TNBC, based on the Special Protocol Assessment agreement that was already granted by the FDA,” she added.
Ms. Sullivan further stated: “IMMU-132 is also in Phase 2 trials in patients with advanced, heavily-pretreated, non-small-cell lung cancer, small-cell lung cancer, and urothelial cancers, where encouraging results have been observed. The Trop-2 receptor targeted by this antibody-drug conjugate has increased expression in a large number of solid cancers. To date, we have enrolled about 300 patients with diverse cancer types.”
About Breakthrough Therapy Designation
Breakthrough Therapy Designation was created as part of the 2012 FDA Safety and Innovation Act (FDASIA) to expedite the development and review of a drug that is intended, alone or in combination with one or more other drugs, to treat a serious or life-threatening disease or condition, and preliminary clinical evidence indicates that the drug may demonstrate substantial improvement over existing therapies on one or more clinically significant endpoints, such as substantial treatment effects observed early in clinical development. More information on the Breakthrough Therapy Designation can be accessed at:
http://www.fda.gov/downloads/Drugs/GuidanceComplianceRegulatoryInformation/Guidances/UCM358301.pdf.
About Triple-Negative Breast Cancer (TNBC)
TNBC is a serious disease, with an annual incidence estimated to be about 40,000 people, 20,000 for metastatic TNBC, in the United States. As the name implies, TNBC does not express estrogen, progesterone or the HER2 receptor, and is, therefore, insensitive to most of the available targeted therapies for breast cancer treatment, including HER2-directed therapy (such as trastuzumab), and endocrine therapies (such as tamoxifen or the aromatase inhibitors). The median overall survival is 6-13 months and the median PFS is usually 3-4 months. There is currently no single standard chemotherapy to treat patients with relapsed/refractory metastatic TNBC. Rapid relapse, with visceral and brain metastases, is very common.
About Sacituzumab Govitecan
Sacituzumab govitecan, or IMMU-132, is a first-in-class ADC developed by the Company by conjugating the moderately-toxic drug, SN-38, site-specifically and at a high ratio of drug to antibody, to a humanized antibody that targets the Trop-2 receptor expressed by many solid cancers. SN-38 is the active metabolite of irinotecan (Camptosar), which is used to treat certain solid cancers as a part of combination therapies, so its pharmacology and properties are well-known. The ADC has received Fast Track designation from the FDA for the treatment of patients with triple-negative breast cancer, small-cell and non-small-cell lung cancers, and has also been designated an orphan drug for the treatment of patients with small-cell lung or pancreatic cancer in the U.S., and for the treatment of patients with pancreatic cancer in the European Union.
About Immunomedics
Immunomedics is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Immunomedics’ advanced proprietary technologies allow the Company to create humanized antibodies that can be used either alone in unlabeled or “naked” form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins. Using these technologies, Immunomedics has built a pipeline of nine clinical-stage product candidates. Immunomedics’ most advanced candidate is 90Y-clivatuzumab tetraxetan. This radiolabeled antibody is in an international Phase 3 registration trial in patients with advanced pancreatic cancer. Immunomedics expects patient enrollment to be completed in calendar year 2016. Immunomedics’ portfolio of investigational products also includes antibody-drug conjugates (ADCs) that are designed to deliver a specific payload of a chemotherapeutic directly to the tumor while reducing overall toxic effects that are usually found with conventional administration of these chemotherapeutic agents. Immunomedics’ most advanced ADCs are sacituzumab govitecan (IMMU-132) and labetuzumab govitecan (IMMU-130), which are in Phase 2 trials for a number of solid tumors and metastatic colorectal cancer, respectively. Immunomedics has a research collaboration with Bayer to study epratuzumab as a thorium-227-labeled antibody. Immunomedics has other ongoing collaborations in oncology with independent cancer study groups. The IntreALL Inter-European study group is conducting a large, randomized Phase 3 trial combining epratuzumab with chemotherapy in children with relapsed acute lymphoblastic leukemia at clinical sites in Australia, Europe, and Israel. Immunomedics also has a number of other product candidates that target solid tumors and hematologic malignancies, as well as other diseases, in various stages of clinical and preclinical development. These include combination therapies involving its antibody-drug conjugates, bispecific antibodies targeting cancers and infectious diseases as T-cell redirecting immunotherapies, as well as bispecific antibodies for next-generation cancer and autoimmune disease therapies, created using its patented DOCK-AND-LOCK® protein conjugation technology. The Company believes that its portfolio of intellectual property, which includes approximately 282 active patents in the United States and more than 400 foreign patents, protects its product candidates and technologies. For additional information on the Company, please visit its website at www.immunomedics.com. The information on its website does not, however, form a part of this press release.
This release, in addition to historical information, may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Such statements, including statements regarding clinical trials (including the funding therefor, outcomes, timing or associated costs), out-licensing arrangements (including the timing and amount of contingent payments), forecasts of future operating results, potential collaborations, and capital raising activities, involve significant risks and uncertainties and actual results could differ materially from those expressed or implied herein. Factors that could cause such differences include, but are not limited to, new product development (including clinical trials outcome and regulatory requirements/actions), the Company’s dependence on business collaborations in order to further develop our products and finance our operations, the risk that we or any of our collaborators may be unable to secure regulatory approval of and market our drug candidates, risks associated with the outcome of pending litigation and competitive risks to marketed products, and availability of required financing and other sources of funds on acceptable terms, if at all, as well as the risks discussed in the Company’s filings with the Securities and Exchange Commission. The Company is not under any obligation, and the Company expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.
For More Information: Dr. Chau Cheng Senior Director, Investor Relations & Corporate Secretary (973) 605-8200, extension 123 ccheng@immunomedics.com
(IMDZ) to Present at Leerink Partners 5th Annual Global Healthcare Conference
SEATTLE and SOUTH SAN FRANCISCO, Calif., Feb. 04, 2016 — Immune Design (Nasdaq:IMDZ), a clinical-stage immunotherapy company focused on oncology, today announced that Carlos Paya, M.D., Ph.D., President and Chief Executive Officer, will present at the Leerink Partners 5th Annual Global Healthcare Conference in New York on Thursday, February 11, 2016 at 3:05 p.m. ET.
A live webcast of the presentation will be available online from the investor relations page of the company’s corporate website at http://ir.immunedesign.com/events.cfm. After the live webcast, an archive of the presentation will be available on the company website for 30 days.
About Immune Design
Immune Design is a clinical-stage immunotherapy company employing next-generation in vivo approaches to enable the body’s immune system to fight disease. The company’s technologies are engineered to activate the immune system’s natural ability to generate and/or expand antigen-specific cytotoxic T cells, while also enhancing other immune effectors, to fight cancer and other chronic diseases. CMB305 and G100, the two-pronged focus of Immune Design’s ongoing immuno-oncology clinical programs, are the product of its two synergistic discovery platforms, ZVexTM and GLAASTM. Immune Design has offices in Seattle and South San Francisco. For more information, visit www.immunedesign.com.
Media Contact Julie Rathbun Rathbun Communications julie@rathbuncomm.com 206-769-9219 Investor Contact Shari Annes Annes Associates sannes@annesassociates.com 650-888-0902
(VBIV) Partners with the Canadian CMV Foundation
CAMBRIDGE, Mass., Feb. 04, 2016 — VBI Vaccines Inc. (Nasdaq:VBIV) (“VBI”) is proud to announce its continued sponsorship support of Le Classique, the Canadian CMV Foundation’s largest annual fundraiser. Now in its fourth year, Le Classique is a 3-on-3 ball hockey tournament being held in Winnipeg, Canada on February 5th and 6th, 2016, in support of cytomegalovirus (“CMV”) awareness.
“We’re thrilled to be supporting Rob Tetrault and the Canadian CMV Foundation’s efforts to promote CMV awareness and prevention strategies,” said Jeff Baxter, VBI’s President and CEO. “VBI maintains strong ties to Canada – our research facilities and the majority of our workforce are located in Ottawa, Ontario. We believe that more can be done to raise the profile of CMV both in Canada and internationally.”
CMV is among the most common congenital infections in Canada, causing a host of prenatal developmental delays. Strategies can be employed by pregnant women and women considering pregnancy to lower their risk of congenital infection. Despite its prevalence, many women of reproductive age are not aware of the risks posed by CMV. A 2012 study published in Preventative Medicine revealed that only 7% of men and 13% of U.S. women surveyed had heard of congenital CMV.
“Until a vaccine can be developed and deployed, awareness is the best current tool we have to prevent future infections,” said Rob Tetrault, founder of the Canadian CMV Foundation. “Women contemplating pregnancy need to be made aware of the condition so they can understand and better manage potential infection risks.”
To make a contribution, or to learn more about Le Classique and the Canadian CMV Foundation, visit: http://leclassique.ca/.
Event Details
- Event: Le Classique
- Date: February 5th and 6th, 2016
- Location: Whittier Park in Winnipeg, Canada
- Event Website: http://leclassique.ca
About VBI Vaccines Inc.
VBI Vaccines Inc. (“VBI”) is a biopharmaceutical company developing novel technologies that seek to expand vaccine protection in large underserved markets. VBI’s eVLP Platform allows for the design of enveloped (“e”) virus-like particle (“VLP”) vaccines that closely mimic the target virus. VBI’s lead eVLP asset is a prophylactic cytomegalovirus (“CMV”) vaccine; VBI has initiated work for GMP manufacturing of its CMV candidate for use in formal preclinical and Phase I trials. VBI’s second platform is a thermostable technology that enables the development of vaccines and biologics that can preserve vaccine potency and withstand storage or shipment at fluctuating temperatures. VBI has completed proof of concept thermostability studies on a number of vaccine and biologic targets. VBI is headquartered in Cambridge, MA with research facilities in Ottawa, Canada.
Website Home: http://www.vbivaccines.com/
News and Insights: http://www.vbivaccines.com/wire/
Investors: http://ir.vbivaccines.com/
Company Contact
Perri Maduri, Communications Executive
Phone: (617) 830-3031 x124
Email: ir@vbivaccines.com
Investor Contacts
Robert B. Prag, President
The Del Mar Consulting Group, Inc.
Phone: (858) 794-9500
Email: bprag@delmarconsulting.com
Scott Wilfong, President
Alex Partners, LLC
Phone: (425) 242-0891
Email: scott@alexpartnersllc.com
Forward-Looking Statement Disclosure
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the efficacy of potential products, the timelines for bringing such products to market, and the availability of funding sources for continued development of such products. Forward-looking statements are based on management’s estimates, assumptions, and projections, and are subject to uncertainties, many of which are beyond the control of VBI. Actual results may differ materially from those anticipated in any forward-looking statement. Factors that may cause such differences include the risks that potential products that appear promising to VBI cannot be shown to be efficacious or safe in subsequent preclinical or clinical trials, VBI will not obtain appropriate or necessary governmental approvals to market these or other potential products, VBI may not be able to obtain anticipated funding for its development projects or other needed funding, and VBI may not be able to secure or enforce adequate legal protection, including patent protection, for its products. All forward-looking statements included in this press release are made only as of the date of this press release, and VBI does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.
More detailed information about VBI and risk factors that may affect the realization of forward-looking statements, including the forward-looking statements in this press release, is set forth in VBI’s filings with the Securities and Exchange Commission (the “Commission”). VBI urges investors and security holders to read those documents free of charge at the Commission’s Web site at http://www.sec.gov. Interested parties may also obtain those documents free of charge from VBI. Forward-looking statements speak only as to the date they are made, and except for any obligation under the U.S. federal securities laws, VBI undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
(AST) Receives Orphan Drug Designation for AST-OPC1
FREMONT, Calif., Feb. 4, 2016 — Asterias Biotherapeutics, Inc. (NYSE MKT: AST), a biotechnology company focused on the emerging field of regenerative medicine, today announced receipt of Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for its product development candidate, AST-OPC1, for the treatment of acute spinal cord injury.
Orphan Drug Designation is granted by the FDA Office of Orphan Products Development to products that treat rare diseases. The FDA defines rare diseases as those affecting fewer than 200,000 people in the United States. Orphan Drug Designation may provide the sponsor certain benefits and incentives, including a period of marketing exclusivity for the first marketing application if regulatory approval is received for the designated indication, potential tax credits for certain activities and waiver of certain administrative fees.
About AST-OPC1
AST-OPC1, an oligodendrocyte progenitor population derived from human embryonic stem cells, has been shown in animals or in vitro to have three potentially reparative functions that address the complex pathologies observed at the injury site of a spinal cord injury. These activities of AST-OPC1 include production of neurotrophic factors, stimulation of vascularization, and induction of remyelination of denuded axons, all of which are critical for survival, regrowth and conduction of nerve impulses through axons at the injury site. In preclinical animal testing, AST-OPC1 administration led to remyelination of axons, improved hind limb and forelimb locomotor function, dramatic reductions in injury-related cavitation and significant preservation of myelinated axons traversing the injury site.
In a previous Phase 1 clinical trial, five patients with neurologically complete, thoracic spinal cord injury were administered two million AST-OPC1 cells at the spinal cord injury site 7-14 days post-injury. They also received low level immunosuppression for the next 60 days. Delivery of AST-OPC1 was successful in all five subjects with no serious adverse events associated with the administration of the cells, with AST-OPC1 itself, or the immunosuppressive regimen. No evidence of rejection of AST-OPC1 was observed in detailed immune response monitoring of all patients. In four of the five patients, serial MRI scans indicated that reduced spinal cord cavitation may have occurred. Based on the results of this study, Asterias received approval from FDA to progress testing of AST-OPC1 to patients with complete cervical spinal cord injuries, which represents the first targeted population for registration trials. This trial, known as the SCiStar trial, will test three escalating doses of AST-OPC1 administered at 14-30 days post-injury in patients with neurologically complete cervical spinal cord injuries. Asterias has concluded recruitment of the initial safety cohort of the trial, in which three patients were administered a low dose of 2 million AST-OPC1 cells. The results of this cohort continue to support a robust safety profile for AST-OPC1. Additionally at 3 months post-injection the first patient in this cohort had demonstrated neurological improvement progressing from a complete ASIA Impairment Scale (AIS) A injury to an incomplete AIS C injury. Recruitment is currently underway in the second cohort of the study, in which five patients will be administered a dose of 10 million AST-OPC1 cells, the first of two dose cohorts designed to bracket the predicted optimal dose range of AST-OPC1 based on the preclinical studies.
About Asterias Biotherapeutics
Asterias Biotherapeutics, Inc. is a leading biotechnology company in the emerging field of regenerative medicine. The company’s proprietary, industry leading platforms are based on its pluripotent stem cell and dendritic cell immunotherapy technologies. Asterias is focused on developing therapies to treat conditions in several medical areas where there is high unmet medical need and inadequate available therapies. AST-OPC1 (oligodendrocyte progenitor cells) is currently in a Phase 1/2a dose escalation clinical trial in spinal cord injury. AST-VAC1 (antigen-presenting autologous dendritic cells) has demonstrated promise in a Phase 2 study in acute myelogenous leukemia. AST-VAC2 (antigen-presenting allogeneic dendritic cells) represents a second generation, allogeneic approach to dendritic cell vaccines. Additional information about Asterias can be found at www.asteriasbiotherapeutics.com.
FORWARD-LOOKING STATEMENTS
Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Asterias, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Asterias, particularly those mentioned in the cautionary statements found in Asterias’s filings with the Securities and Exchange Commission. Asterias disclaims any intent or obligation to update these forward-looking statements.
(SAGE) to Present at the 2016 Leerink Global Healthcare Conference
CAMBRIDGE, Mass., Feb. 03, 2016 — SAGE Therapeutics (NASDAQ:SAGE), a clinical-stage biopharmaceutical company developing novel medicines to treat life-altering central nervous system disorders, today announced that Jeff Jonas, M.D., Chief Executive Officer of Sage, will present at the 2016 Leerink Global Healthcare Conference at 3:55 PM ET on Wednesday, February 10, 2016, in New York City.
A live webcast of the presentation can be accessed on the investor page of Sage’s website at investor.sagerx.com. A replay of the webcast will also be archived for up to 30 days on Sage’s website following the conference.
About Sage Therapeutics
Sage Therapeutics is a clinical-stage biopharmaceutical company committed to developing novel medicines to transform the lives of patients with life-altering central nervous system (CNS) disorders. Sage has a portfolio of novel product candidates targeting critical CNS receptor systems, GABA and NMDA. Sage’s lead program, SAGE-547, is in Phase 3 clinical development for super-refractory status epilepticus, a rare and severe seizure disorder. Sage is developing its next generation modulators, including SAGE-217, SAGE-689 and SAGE-718, with a focus on acute and chronic CNS disorders. For more information, please visit www.sagerx.com.
Investor Contact: Paul Cox, Sage Therapeutics paul.cox@sagerx.com 617-299-8377 Media Contact: Maureen L. Suda, Suda Communications LLC maureen_suda@yahoo.com 585-387-9248
(MOBL) Appoints Daniel Fields SVP of Engineering and Chief Software Development Officer
MOUNTAIN VIEW, Calif., Feb. 4, 2016 — MobileIron (NASDAQ: MOBL), the leader in mobile enterprise security, today announced that Daniel Fields has been named Senior Vice President of Engineering and Chief Software Development Officer. He will report to CEO Barry Mainz.
Daniel takes over engineering from MobileIron co-founder Suresh Batchu. Suresh will continue as Chief Technology Officer, leading MobileIron’s research division that anticipates and develops new technologies to support customers’ mobile initiatives now and in the future.
An experienced engineering leader, Daniel has more than 25 years of experience scaling engineering organizations, leading teams based around the world, and building complex enterprise cloud and on-premises solutions. He joins MobileIron from Oracle where he was Group Vice President, Engineering, Oracle Service Cloud. Before joining Oracle, Daniel was at RightNow Technologies where he served as Vice President, Engineering for the RightNow Service Cloud. Daniel joined Oracle when the company acquired RightNow Technologies for approximately $1.5 billion. At both Oracle and RightNow, Daniel was responsible for building cloud-based applications used in some of the world’s largest contact centers. He was also responsible for technical due diligence on multiple cloud-based acquisitions. Prior to RightNow Technologies, Daniel spent 17 years at Oracle in a variety of engineering roles. He earned a Bachelor of Engineering degree in Electronic Engineering from Dublin City University in Ireland.
“Danny brings an unrivaled combination of engineering skills and leadership as well as the personal experience of driving both a product and a company through rapid growth and I am very pleased to have him on my leadership team,” said Barry Mainz. “Danny’s experience is exactly what we need as MobileIron moves to its next phase of growth.”
“I am really excited to be joining MobileIron to lead the engineering team,” said Daniel Fields. “I am very impressed by this world-class team that has developed the industry-leading suite of mobile security products used by over 10,000 customers. We will focus on delivering highly secure, highly scalable, and highly available innovative solutions that enable organizations to embrace mobile and cloud solutions to drive business efficiency and growth.”
About MobileIron
MobileIron provides the secure foundation for companies around the world to transform into Mobile First organizations. For more information, please visit www.mobileiron.com.
(VHC) Awarded $625.6 Million Verdict Against Apple
Jury Found Apple’s modified VPN On-Demand, iMessage and FaceTime services infringed VirnetX’s patents
ZEPHYR COVE, Nev., Feb. 4, 2016 — VirnetX™ Holding Corporation (NYSE MKT: VHC), an Internet security software and technology company, announced today a jury in the United States Court for the Eastern District of Texas, Tyler Division, in the case VirnetX Inc., et al. v. Apple Inc., No. 6:12-cv-00855, has awarded VirnetX $625.6 million in a verdict against Apple Corporation for infringing four VirnetX patents, marking the second time a federal jury has found Apple liable for infringing VirnetX’s patented technology.
The verdict includes royalties awarded to VirnetX based on an earlier patent infringement finding against Apple. The jury found that Apple’s modified VPN On-Demand, iMessage and FaceTime services infringed VirnetX’s patents and that Apple’s infringement was willful.
In addition to determining the royalty owed by Apple for its prior infringement, today’s verdict also includes an award based on the jury’s finding that Apple’s modified VPN On Demand, iMessage and FaceTime services have continued to infringe VirnetX’s patents.
“We are extremely pleased with the jury verdict,” said Kendall Larsen, VirnetX CEO and President. “The jury agreed once again that Apple has been using the technology developed by our inventors.”
About VirnetX
VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 4G LTE security. The Company’s software and technology solutions, including its secure domain name registry and Gabriel Connection Technology™, are designed to facilitate secure communications and to create a secure environment for real-time communication applications such as instant messaging, VoIP, smart phones, eReaders and video conferencing. The Company’s patent portfolio includes over 112 U.S. and international patents and over 75 pending applications. For more information, please visit www.virnetx.com
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact, including statements regarding the strength of VirnetX’s intellectual property, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on expectations, estimates and projections about the markets in which the Company operates, management’s beliefs, and certain assumptions made by management and involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements, including but not limited to (1) the outcome of any legal proceedings that have been or may be initiated by the Company or that may be initiated against the Company, including pending and future inter partes review proceedings in the Patent and Trademark Office; (2) the ability to capitalize on the Company’s patent portfolio and generate licensing fees and revenues; (3) the ability of the Company to be successful in entering into licensing relationships with its targeted customers on commercially acceptable terms; (4) potential challenges to the validity of the Company’s patents underlying its licensing opportunities; (5) the ability of the Company to achieve widespread customer adoption of the Company’s Gabriel Communication Technology™ and its secure domain name registry; (6) the level of adoption of the 3GPP Series 33 security specifications; (7) whether or not the Company’s patents or patent applications may be determined to be or become essential to any standards or specifications in the 3GPP LTE, SAE project or otherwise; (8) the extent to which specifications relating to any of the Company’s patents or patent applications may be adopted as a final standard, if at all; and (9) the possibility that Company may be adversely affected by other economic, business, and/or competitive factors. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” or “plans” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s reports and registration statements filed with the Securities and Exchange Commission, including those under the heading “Risk Factors” in Company’s Quarterly Report on Form 10-Q filed with the SEC on November 9, 2015. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company’s ability to control or predict. Except as required by law, the Company is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.
Contact:
Investor Relations
VirnetX Holding Corporation
775.548.1785
ir@virnetx.com
VirnetX, Gabriel Collaboration Suite, Gabriel Secure Communications Platform and GABRIEL Connection Technology are trademarks of VirnetX Holding Corporation. Other company and product names may be trademarks of their respective owners.
(TINY) Portfolio Company, Magic Leap, Raises $793.5 Million in New Funding
NEW YORK, Feb. 03, 2016 — Harris & Harris Group, Inc. (NASDAQ:TINY), an investor in transformative companies enabled by disruptive science, notes the announcement by its portfolio company, Magic Leap, of the close of $793.5 million of new funding led by Alibaba Group. Other new investors in the company include Warner Bros., Fidelity Management and Research Company, J.P. Morgan Investment Management, Morgan Stanley Investment Management, funds and accounts advised by T. Rowe Price Associates, Inc., and Wellington Management Company. Magic Leap’s press release on the round of financing can be viewed at http://www.magicleap.com/#/press/magic-leap-series-c-funding.
About Harris & Harris Group
Harris & Harris Group is a publicly traded venture capital firm that is also a business development company. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com, on Facebook at www.facebook.com/harrisharrisvc and by following on Twitter @harrisandharrisgroup.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company’s current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company’s business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company’s actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references and links to the websites www.HHVC.com, www.magicleap.com and www.Facebook.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.
Press Contact: Daniel B. Wolfe Harris & Harris Group, Inc. 212-582-0900
(SKLN) to Present at Source Capital Group’s 2016 Conference
MINNEAPOLIS, Feb. 03, 2016 — Skyline Medical Inc. (NASDAQ:SKLN) (NASDAQ:SKLNU) today announced that Josh Kornberg, President and CEO, will provide a company overview at the Source Capital Group’s 2016 Disruptive Growth & Healthcare Conference at The Convene in New York City. The Company will present at 1:00pm ET on Thursday, February 11, 2016. For more information on the conference or for investors to register, please go to www.SourceCapitalConference.com.
About Skyline Medical Inc.
Skyline Medical Inc. produces a fully automated, patented, FDA-cleared, waste fluid disposal system that virtually eliminates staff exposure to blood, irrigation fluid and other potentially infectious fluids found in the healthcare environment. Antiquated manual fluid handling methods — which require hand carrying and emptying filled fluid canisters — present an exposure risk and potential liability. Skyline Medical’s STREAMWAY System fully automates the collection, measurement and disposal of waste fluids and is designed to: 1) reduce overhead costs to hospitals and surgical centers, 2) improve compliance with Occupational Safety and Health Administration (OSHA) and other regulatory agency safety guidelines, 3) improve efficiency in the operating room, and radiology and endoscopy departments — leading to greater profitability, and 4) provide greater environmental stewardship by helping to eliminate the approximately 50 million potentially disease-infected canisters that go into landfills annually in the United States. For additional information, please visit: www.skylinemedical.com.
About Source Capital Group
Source Capital Group, Inc. was founded in 1992 on the belief that the best investment advice should be independent, unbiased and tailor-made for the individual client’s needs. Source Capital began as a boutique investment banking firm specializing in small to medium sized transactions. We have grown to include businesses in general securities, emerging market securities, distressed and high yield debt securities, in addition to our investment banking activity. http://www.sourcegrp.com
Investor and Media Contact: Garth Russell KCSA Strategic Communications 212-896-1250 skyline@kcsa.com
(MARA) Subsidiary, Orthophoenix LLC Receives Favorable Markman Ruling
LOS ANGELES, CA–(Feb 3, 2016) – Marathon Patent Group, Inc. (NASDAQ: MARA) (“Marathon” or the “Company”), a patent licensing company, announced today that on February 2, 2015, the United States District Court for the District of Delaware issued the claim construction order in the litigation involving its wholly-owned subsidiary Orthophoenix LLC, in its case against Dfine Inc., Wright Medical Technology Inc., and Stryker Corporation.
In his opinion, Chief Judge Leonard P. Stark, addressed disputed claim terms for U.S. Patent numbers 6,440,138 (“the ‘138 patent”), 6,863,672 (“the ‘672 patent”) 6,663,647 (“the ‘647 patent”) 6,248,110 (‘the ‘110 patent”), 6,981,981 (“the ‘981 patent”), and 7,044,954 (“the ‘954 patent”). For all but one of the disputed claim terms, the court issued a favorable claim construction adopting the constructions (or minor variations thereof) proposed by Orthophoenix. The Court rejected defendants’ arguments that the claims were invalid for indefiniteness, and rejected defendants’ attempts to import limitations into the claims in order to avoid infringement.
Doug Croxall, Chief Executive Officer of Marathon, stated, “The Markman order is very encouraging, especially considering that almost all disputed terms were construed in our favor. We were gratified that the Court construed the claims to give them their full scope, and upheld the claims against defendants’ invalidity arguments. It’s rulings like this that generally have the potential to motivate possible resolution in the form of a reasonable licensing agreement. Absent such, we will confidently continue to work towards trial.”
Russ, August & Kabat is representing Orthophoenix. The complete Markman Order may be found at the company’s website.
About Marathon Patent Group
Marathon is a patent acquisition and monetization company. The Company acquires patents from a wide-range of patent holders from individual inventors to Fortune 500 companies. Marathon’s strategy of acquiring patents that cover a wide-range of subject matter allows the Company to achieve diversity within its patent asset portfolio. Marathon generates revenue with its diversified portfolio through actively managed concurrent patent rights enforcement campaigns. This approach is expected to result in a long-term, diversified revenue stream. To learn more about Marathon Patent Group, visit www.marathonpg.com.
Safe Harbor Statement
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission (the “SEC”), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The claim construction described in this press release does not result in revenue for the Company, does not assure success in the pending litigation nor is it binding on an appelate court. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
CONTACT INFORMATION
Marathon Patent Group, Inc.
Jason Assad
678-570-6791
Jason@marathonpg.com
(CNAT) FDA Grants Conatus Fast Track Designation
Focusing on Initial Registration in NASH Cirrhosis With Parallel Development in NASH Fibrosis
SAN DIEGO, Feb. 03, 2016 — Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to the company’s emricasan development program for the treatment of liver cirrhosis caused by nonalcoholic steatohepatitis (NASH). Based on additional communications with the FDA recommending single-etiology clinical trials, the company plans to focus on advancing toward initial registration of emricasan for patients with NASH cirrhosis, with parallel development toward registration of emricasan for patients with NASH fibrosis, and supportive clinical trials addressing additional patient populations.
The Fast Track program provides for greater access to FDA to facilitate development and expedite review of drugs that have demonstrated the potential to treat serious or life-threatening conditions. “The data from our recently completed Portal Hypertension trial, showing clinically meaningful reductions in hepatic venous pressure gradient (HVPG) in patients with severe portal hypertension after only one month of treatment with emricasan, were a key component of our Fast Track submission,” said Conatus co-founder, President and Chief Executive Officer Steven J. Mento, Ph.D. “The Fast Track designation formalizes the recognition of emricasan’s potential to address a significant unmet medical need, but we believe its real importance is in the opportunity for even closer interactions with the FDA as we pursue the most efficient pathway to provide a potentially disease-modifying treatment to patients with NASH cirrhosis.”
About Emricasan Clinical Development
To date, emricasan has been studied in over 650 subjects in sixteen clinical trials across a broad range of liver disease etiologies and stages of progression. In multiple clinical trials, emricasan has demonstrated statistically significant, rapid and sustained reductions in elevated levels of key biomarkers of inflammation and apoptosis that are implicated in the progression of liver disease. Recent clinical trial results have demonstrated emricasan’s ability to provide statistically significant improvements in clinically important validated functional surrogate endpoints of portal hypertension and liver function across a variety of etiologies in the subgroups of liver cirrhosis patients with highest medical need. In November 2015, the company announced plans to conduct a set of parallel EmricasaN, a Caspase inhibitOR, for Evaluation (ENCORE) clinical trials designed to evaluate multiple doses of emricasan over various treatment durations in chronic liver disease of different etiologies and disease stages. The ENCORE trials are designed to provide further information on doses leading to clinically relevant efficacy, including improvement in biopsy-proven fibrosis and inflammation in patients with NASH fibrosis, and improvement in severe portal hypertension and hepatic function in patients with NASH cirrhosis. The ENCORE trials are also designed to provide safety data to support the initial registration of emricasan for chronic administration in patients with liver cirrhosis. The company’s recently initiated Phase 2b ENCORE-NF clinical trial is evaluating emricasan’s potential longer-term benefits for patients with liver fibrosis resulting from NASH. The company also is evaluating emricasan’s potential longer-term benefits on liver fibrosis and cirrhosis in its ongoing Phase 2b clinical trial in post-orthotopic liver transplant (POLT) recipients who developed liver fibrosis or cirrhosis post-transplant as a result of recurrent hepatitis C virus (HCV) infection and who have successfully achieved a sustained viral response (SVR) following antiviral therapy (POLT-HCV-SVR).
About Conatus Pharmaceuticals
Conatus is a biotechnology company focused on the development and commercialization of novel medicines to treat liver disease. Conatus is developing its lead compound, emricasan, for the treatment of patients with chronic liver disease. Emricasan is a first-in-class, orally active pan-caspase inhibitor designed to reduce the activity of enzymes that mediate inflammation and apoptosis. Conatus believes that by reducing the activity of these enzymes, emricasan has the potential to interrupt the disease progression across the spectrum of liver disease. For additional information, please visit www.conatuspharma.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release are forward looking statements, including statements regarding: the company’s focus on initial registration of emricasan for patients with NASH cirrhosis; development toward registration of emricasan for patients with NASH fibrosis; supportive clinical trials addressing additional patient populations; emricasan’s potential to address a significant unmet medical need; the opportunity for closer interactions with the FDA; emricasan’s disease-modifying potential as a treatment for patients with NASH cirrhosis; the company’s plans to conduct the ENCORE set of parallel clinical trials; the ability of the ENCORE trials to provide dosing information leading to clinically relevant efficacy in patients with NASH fibrosis and NASH cirrhosis, and safety data to support the initial registration of emricasan for chronic administration; emricasan’s potential longer-term benefits for patients with NASH fibrosis; emricasan’s potential longer-term benefits on liver fibrosis and cirrhosis in POLT-HCV-SVR patients; and emricasan’s potential to interrupt the disease progression across the spectrum of liver disease. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including: Conatus’ ability to initiate and successfully complete current and future clinical trials; and those risks described in Conatus’ prior press releases and in the periodic reports it files with the Securities and Exchange Commission. The events and circumstances reflected in Conatus’ forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Except as required by applicable law, Conatus does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
MEDIA: David Schull Russo Partners, LLC (858) 717-2310 David.Schull@RussoPartnersLLC.com INVESTORS: Alan Engbring Conatus Pharmaceuticals Inc. (858) 376-2637 aengbring@conatuspharma.com
(GLUU) With Global Superstar Taylor Swift On New Mobile Game
Hot off her critically acclaimed The 1989 World Tour – Swift embarks on a new adventure in mobile gaming
Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, today announced the company has partnered with GRAMMY award-winning artist, Taylor Swift, on the development of a new mobile game. Swift will work exclusively with Glu as part of a multi-year partnership to develop and create a new, one-of-a-kind digital gaming experience. This is Swift’s first foray into the mobile gaming space following her 2015 Emmy award win for Best Original Interactive Program.
“Bringing with her over 227 million social followers*, I am thrilled to welcome Taylor Swift, an award-winning singer, musician and songwriter, to Glu’s family,” said Niccolo de Masi, Glu Chairman and CEO. “We realize that Taylor and her global fan base expect a new and highly differentiated mobile gaming experience,” continued de Masi. “Glu is equally committed to designing never before seen gameplay elements that utilize Taylor’s unique creativity. Accordingly, we will spend the required development time to ensure this innovation is achieved.”
Taylor Swift’s achievements have been recognized industry-wide, which include seven GRAMMY awards, 19 American Music Awards, 11 Country Music Association awards, 9 Academy of Country Music awards, 22 Billboard Music awards, one Brit award, one Emmy award, and 25 Teen Choice Awards. She is the only woman in history to be named Billboard Magazine’s ‘Woman of the Year’ twice, in 2011 and most recently in 2014. In 2015, she was named one of Time Magazine’s ‘100 Most Influential People in the World.’ In the fall of 2014, Swift released her fifth studio album, 1989, which sold 1.3 million copies in its first week making it the top-selling album of the year and Swift is the only artist in history to have three albums sell over one million albums their debut week. By the close of 2015, Taylor Swift had sold over 40 million albums worldwide during the course of her extraordinary career.
Currently slated for global release in late 2016, Glu will provide additional details regarding the game’s development and Taylor Swift’s involvement at a later date.
* Taylor Swift’s social audience as of February 2, 2016: 74 million on Facebook, 70.4 million on Twitter, 64.8 million on Instagram, and 18 million on Vevo. There is some fan overlap among these social channels.
About Glu Mobile
Glu Mobile (NASDAQ:GLUU) is a leading global developer and publisher of free-to-play games for smartphone and tablet devices. Glu is focused on creating compelling original IP games such as CONTRACT KILLER, COOKING DASH, DEER HUNTER, DINER DASH, DINO HUNTER: DEADLY SHORES, ETERNITY WARRIORS, FRONTLINE COMMANDO, RACING RIVALS, TAP SPORTS BASEBALL and TAP SPORTS FOOTBALL, and branded IP games including KIM KARDASHIAN: HOLLYWOOD, KATY PERRY POP, JAMES BOND: WORLD OF ESPIONAGE, MISSION IMPOSSIBLE: ROGUE NATION, and SNIPER X WITH JASON STATHAM on the App Store, Google Play, Amazon Appstore, Facebook, Mac App Store, and Windows Phone. Glu’s unique technology platform enables its titles to be accessible to a broad audience of consumers globally. Founded in 2001, Glu is headquartered in San Francisco with major U.S. offices outside Seattle and in Long Beach, and international locations in Canada, China, India, Japan, Korea, and Russia. Consumers can find high-quality entertainment wherever they see the ‘g’ character logo or at www.glu.com. For live updates, please follow Glu via Twitter at www.twitter.com/glumobile or become a Glu fan at www.facebook.com/glumobile.
CONTRACT KILLER, COOKING DASH, DEER HUNTER, DINER DASH, DINO HUNTER: DEADLY SHORES, ETERNITY WARRIORS, FRONTLINE COMMANDO, RACING RIVALS, SNIPER X, TAP SPORTS BASEBALL, TAP SPORTS FOOTBALL, GLU, GLU MOBILE and the ‘g’ character logo are trademarks of Glu Mobile Inc. or its subsidiaries.
Cautions Regarding Forward-Looking Statements
This release contains certain “forward-looking statements” related to Glu’s efforts to develop and create a new, one-of-a-kind, highly differentiated digital gaming experience; Glu’s commitment to ensuring that it creates a game with never before seen gameplay elements and the expected launch date of this game. Such forward-looking statements involve known and unknown risks and uncertainties, including the risk that Glu does not realize the expected benefits from its agreement with its newly signed celebrity or that Glu is unable to capitalize on her social media following; the risk that consumer demand for mobile devices does not grow as significantly as Glu anticipates or that it is unable to capitalize on any such growth; and the risk of product delays. Certain of these risks and uncertainties are described in greater detail in Glu’s public filings with the SEC. Glu is not under obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
About Taylor Swift
In the fall of 2014, when Taylor Swift released her critically acclaimed fifth album, 1989, she astounded the world by selling almost 1.3 million albums in its debut week — a feat that had been called impossible. Taylor is the only artist in history to have three albums selling over one million copies in their first week of release (2010’s Speak Now, 2012’s RED and 2014’s 1989). Taylor, a seven-time GRAMMY winner, is a singer, musician and songwriter, and the youngest winner in history of the music industry’s highest honor, the GRAMMY Award for Album of the Year and the inaugural recipient of AMA’s Dick Clark Award for Excellence. Taylor has an album on Rolling Stone’s prestigious The 50 Greatest Albums of All Time (by women) list, she is Billboard’s youngest-ever Woman of the Year and the only artist to have been awarded this honor twice, Time magazine has named her one the of the 100 Most Influential People in the world and one of only eight candidates for their most prestigious honor, 2014 Person of the Year. Taylor has career record sales of over 40 million albums and more than 130 million song downloads worldwide, with singles topping the charts around the globe. “Out Of The Woods” is her sixth and current single off 1989, her GRAMMY nominated Album of the Year.
Media:
Glu Mobile Inc.
Jason Enriquez, 415-800-6263
PR@glu.com
or
Taylor Swift
Premium PR
Tree Paine
tree.paine@premiumpr.com
(VTNR) Sells Nevada Facility for $35 Million
Vertex Energy, Inc. (NASDAQ:VTNR), an environmental services company that recycles industrial waste streams and off-specification commercial chemical products, announced today that it has sold its Nevada re-refinery facility, which is located in Churchill County, to Clean Harbors, Inc. for $35 million, of which approximately $14 million was immediately used at closing to purchase the facility and equipment previously leased by Vertex Energy in order to facilitate such sale.
Benjamin P. Cowart, Chairman and CEO of Vertex Energy, said, “This transaction benefits Vertex Energy in a variety of ways, not the least of which is by strengthening our balance sheet. As we noted in our third quarter Form 10-Q filing and on the conference call that followed, the Churchill County facility had an average carrying cost of $1.5 million per quarter. We eliminate those costs with this transaction. At the end of the third quarter of 2015, our cash and cash equivalents were over $4 million. This sale and related transactions will bring that cash position to more than $10 million. We also used $16 million of sale proceeds to pay down our term debt.”
Mr. Cowart added, “While the sale of our re-refinery in Nevada will lessen our footprint in the western U.S., the swap agreement and base oil agreements that were entered into as part of the sale should allow us to improve logistic costs and provide us with a long-term off-take agreement for base oil and finished lubricants to support our business strategy going forward.”
Mr. Cowart concluded, “We intend to put this cash to work both in reducing our long-term debt and in making opportunistic acquisitions. As of the end of the third quarter, the amount of our term debt owed to Goldman Sachs stood at $23.2 million. We have used $16 million of the funds from the Nevada sale to pay down and service that debt, lowering the amount owed to approximately $7 million today and our total long-term debt to approximately $14 million. Additionally, moving forward, we intend to expand our street collections of used oil through acquisitions, thereby decreasing our reliance on third-party purchases. We also anticipate seeing an increase in our margins by moving from third-party purchases to our own collections.”
Clean Harbors’ Chief Operating Officer Eric W. Gerstenberg said, “The Nevada facility is strategically located and aligns with our plans to increase our re-refining presence in California and other West Coast lubricant markets. As we pursue our closed loop direct sales strategy, this plant provides an opportunity to scale our blended operations in the Western U.S. where we currently have no capability. We are confident that the facility will complement our existing re-refining network through transportation efficiencies, additional storage and processing capabilities.”
Houlihan Lokey acted as the exclusive financial advisor to Vertex Energy, Inc. and Reinhart Boerner Van Deuren s.c. provided legal representation.
More information regarding the sale and related transactions can be found in Vertex Energy’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 3, 2016.
ABOUT VERTEX ENERGY, INC.
Vertex Energy, Inc. (NASDAQ: VTNR) is a leading environmental services company that recycles industrial waste streams and off-specification commercial chemical products. Its primary focus is recycling used motor oil and other petroleum by-product streams. Vertex Energy purchases these streams from an established network of local and regional collectors and generators. Vertex Energy also manages the transport, storage and delivery of the aggregated feedstock and product streams to end users, and manages the re-refining of a portion of its aggregated petroleum streams in order to sell them as higher-value end products. Vertex Energy sells its aggregated petroleum streams as feedstock to other re-refineries and fuel blenders or as replacement fuel for use in industrial burners. The re-refining of used motor oil that Vertex Energy manages takes place at its facility, which uses a proprietary Thermal Chemical Extraction Process (“TCEP”) technology. Based in Houston, Texas, Vertex Energy also has offices in California, Chicago, Georgia, and Ohio. More information on Vertex Energy can be found at www.vertexenergy.com.
This press release may contain forward-looking statements, including information about management’s view of Vertex Energy’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Vertex Energy, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Vertex Energy files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Vertex Energy’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex Energy cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex Energy undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex Energy.
Vertex Energy, Inc.
Investor Relations Contact
Marlon Nurse, DM, 212-564-4700
Senior VP – Investor Relations
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