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(FNJN) Ruling in Favor of Finjan for Nearly $40 Million as Blue Coat Trial Concludes
Jury Finds Five of Six Finjan’s Patents Infringed by Blue Coat Systems
EAST PALO ALTO, CA–(Aug 5, 2015) – Finjan Holdings, Inc. (NASDAQ: FNJN), a cybersecurity company, announced today that the jury in Finjan, Inc. v. Blue Coat Systems Inc. (5:13-cv-03999-BLF) returned a unanimous verdict that Finjan’s U.S. Patent Nos. 6,154,844 (the “‘844 Patent”), 6,804,780 (the “‘780 Patent”), 6,965,968 (the “‘968 Patent”), and the 7,418,731 (the “‘731 Patent”) were literally infringed by Blue Coat. Further, the jury found that U.S. Patent No. 7,647,633 (the “‘633 Patent”) was infringed by Blue Coat under the Doctrine of Equivalents. Moreover, the jury found each of Finjan’s asserted patents valid. The verdict, reached on August 04, 2015, followed a two-week trial before the Honorable Beth Labson Freeman of the U.S. District Court for the Northern District of California.
Finjan alleged that Blue Coat’s products or combination of products, namely, WebPulse, ProxySG, CAS (or Content Analysis System), MAA (or Malware Analysis Appliance), and ProxyAG infringed one or more of the asserted claims of the asserted patents.
The jury also decided that Finjan was entitled to $39,528,487.00 damages as reasonable royalties for Blue Coat’s infringement.
“We are both grateful and gratified with the jury’s verdict,” said Julie Mar-Spinola, Finjan’s Chief Intellectual Property Officer and VP, Legal. “As we have stated in our earlier Litigation Updates, we are committed to our licensing best practices and will present our patent infringement claims credibly and convincingly to establish the merits of our case, in and outside of the courtroom. Additionally, we were confident in the merits of our patent claims against Blue Coat. It is significant that the jury unanimously agreed with us on all but one.”
Finjan is well-represented by Paul Andre, Lisa Kobialka, James Hannah, Hannah Lee, and Kris Kastens, and many other significant contributors from the law offices of Kramer Levin Naftalis & Frankel in Menlo Park, CA.
Finjan has also filed a second patent infringement lawsuit against Blue Coat Systems, Inc. (Blue Coat), alleging infringement of seven Finjan patents relating to new infringing Blue Coat products and services. The Complaint (5:15-cv-03295, Docket No. 1), filed July 15, 2015, in the U.S. District Court for the Northern District of California, alleges that Blue Coat’s new products and services infringe seven Finjan patents. In particular, Finjan is asserting infringement of U.S. Patent Nos. 6,154,844; 6,965,968; 7,418,731; 8,079,086; 8,225,408; 8,566,580; 8,677,494; four of which are being asserted against Blue Coat for the first time. This matter has also been assigned to Judge Freeman.
Finjan has filed patent infringement lawsuits against FireEye, Proofpoint, Sophos, Symantec, and Palo Alto Networks relating to, collectively, more than 20 patents in the Finjan portfolio. The court dockets for the foregoing cases are publicly available on the Public Access to Court Electronic Records (PACER) website, www.pacer.gov, which is operated by the Administrative Office of the U.S. Courts.
ABOUT FINJAN
Established nearly 20 years ago, Finjan is a globally recognized leader in cybersecurity. Finjan’s inventions are embedded within a strong portfolio of patents focusing on software and hardware technologies capable of proactively detecting previously unknown and emerging threats on a real-time, behavior-based basis. Finjan continues to grow through investments in innovation, strategic acquisitions, and partnerships promoting economic advancement and job creation. For more information, please visit www.finjan.com.
Follow Finjan Holdings, Inc.:
Twitter: @FinjanHoldings
LinkedIn: linkedin.com/company/finjan
Facebook: facebook.com/FinjanHoldings
Finjan Mobile Defense Challenge 2015: contest.finjan.com
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, the matters set forth herein that are forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, the outcome of pending or future enforcement actions, our ability to expand our technology portfolio, the enforceability of our patents, the continued use of our technologies in the market, our stock price, changes in the trading market for our securities, regulatory developments, general economic and market conditions, the market acceptance and successful business, technical and economic implementation of Finjan Holdings’ intended plan; and the other risk factors set forth from time to time in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2014, and the Company’s periodic filings with the SEC, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from Finjan Holdings, Inc. All forward-looking statements herein reflect our opinions only as of the date of this release, and Finjan Holdings undertakes no obligation, and expressly disclaims any obligation, to update forward-looking statements herein in light of new information or future events.
(CDRB) CEO Talks Growth in BYOD Enterprises, Rising Adoption of iRAPP
NEW YORK, NY–(Aug 5, 2015) – Code Rebel Corp. (NASDAQ: CDRB), an enterprise software development firm that licenses its proprietary software solution to enable simplified secure access and communications between PC and Mac environments on virtually any computer, tablet, or smartphone, today is pleased to announce the release of an exclusive BizTechReports webcast featuring Code Rebel founder and CEO Arben Kryeziu, along with its newly appointed Director, renowned futurist and former Apple executive, Dr. James Canton, discussing the growing prevalence of Bring-Your-Own-Device (BYOD) Enterprises, and rising adoption of its iRAPP Solution by major Fortune 500 companies such as AT&T, Microsoft, Cisco, IBM, Bloomberg, and J.P. Morgan Chase. The webcast can be found here: http://biztechreports.com/blog/2015/06/15/byod-and-cloud-create-demand-for-enterprises-to-leverage-both-mac-and-windows-platforms/
BizTechReports is an independent reporting agency that analyzes user trends in business technology. They explore the role that technology products and services play in the overall economy and/or in specific vertical industries. With offices in Washington, DC and Toronto, Canada, BizTechReports’ mission is to put enterprise technologies into a context that business decision-makers can understand and appreciate.
“BYOD has impacted the enterprise. Every enterprise needs to have a BYOD strategy that enables flexibility, high performance and agility. Code Rebel’s iRAPP solution enables enterprise customers exactly that and it’s truly platform agnostic. They can access information anywhere and anytime from multiple screens regardless of platform — from Mac to PC,” says Arben Kryeziu, CEO of Code Rebel. “With iRAPP enterprise features such as an access platform for simultaneous users, Microsoft Remote Desktop Protocol and Data Safety, customers can address many BYOD benefits.”
Leading Code Rebel customers, such as Wells Fargo, are using iRAPP to enhance enterprise collaboration, employee productivity and service. Customers include Fortune 500 companies such as AT&T, Microsoft, Cisco, IBM, Bloomberg, J.P. Morgan Chase, Lloyds Bank, Merck, Panasonic and IKEA, as well as organizations such as the University of California, University of Texas and University of Missouri.
For more information on Code Rebel products and current uses, please visit: http://www.coderebel.com/products/ and http://www.coderebel.com/about/news/casestudies/
About Code Rebel
Code Rebel is an enterprise software company that develops, licenses, and supports software designed for cross-platform enterprise security and productivity. The proprietary Code Rebel iRAPP software addresses the growing requirement of corporate IT departments for secure access from diverse enterprise devices. Code Rebel software was developed by its in-house engineering team to address the demand for secure interoperability between mobile, desktop, and server environments and interaction between Apple and Microsoft devices and software. Code Rebel software facilitates mobile, desktop, and server environment interoperability seamlessly across Apple and Microsoft devices and software. The company provides enterprise client support for its software to a diverse range of industries. For more information visit: http://www.coderebel.com, Facebook and Twitter
Forward-Looking Statements
This press release contains information about Code Rebel’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of software and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Code Rebel encourages you to review other factors that may affect its future results in Code Rebel’s registration statement and in its other filings with the Securities and Exchange Commission.
Code Rebel Investor Relations Contact:
Christopher R. Sawicki II
President
Code Rebel Corporation
Phone (cell): (480) 338-9330
Phone (work): (808) 871-6496
Email: chris@coderebel.com
http://www.coderebel.com
Howard Gostfrand
President
American Capital Ventures
Phone (work): (305) 918-7000
Email: info@amcapventures.com
www.amcapventures.com
(VSAR) to Present at the Canaccord Genuity 35th Annual Growth Conferenc
MENLO PARK, Calif., Aug. 4, 2015 — Versartis, Inc. (NASDAQ:VSAR), an endocrine-focused biopharmaceutical company that is developing somavaratan (VRS-317), a novel, long-acting form of recombinant human growth hormone (rhGH) for growth hormone deficiency (GHD), today announced that Mr. Jay Shepard, President and Chief Executive Officer, is scheduled to present at the Canaccord Genuity 35th Annual Growth Conference on Wednesday, August 12, 2015 at the InterContinental in Boston, Massachusetts.
| Event: | Canaccord Genuity 35th Annual Growth Conference |
| Date: | Wednesday, August 12, 2015 |
| Time: | 11:30 a.m. ET / 8:30 a.m. PT |
An audio webcast of the Company’s presentation will be available on the investor relations section of Versartis’ website at www.versartis.com. A replay of the presentation will be available for 90 days.
About Versartis, Inc.
Versartis, Inc. is an endocrine-focused biopharmaceutical company initially developing somavaratan (VRS-317), a novel, long-acting form of recombinant human growth hormone for the treatment of growth hormone deficiency (GHD). Somavaratan is intended to reduce the burden of daily injection therapy by requiring significantly fewer injections, potentially improving compliance and, therefore, treatment outcomes. The Company completed the Phase 2a stage of a Phase 1b/2a trial evaluating weekly, twice-monthly and monthly dosing regimens of somavaratan in children with GHD in June 2014 and initiated a global Phase 3 registration trial, VELOCITY, in GHD children in January 2015. In addition, the Company initiated a Phase 2/3 trial in Japan for children with GHD in April 2015. Additional information on Versartis clinical trials can be found at www.versartistrials.com. Further information on Versartis can be found at www.versartis.com.
Cautionary Note on Forward Looking Statements
This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding our intentions or current expectations concerning, among other things, plans and timing of our clinical trials and the potential for eventual regulatory approval of somavaratan. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to: our success being heavily dependent on somavaratan; somavaratan being a new chemical entity; the risk that somavaratan may not have favorable results in clinical trials or receive regulatory approval; potential delays in our clinical trials due to regulatory requirements or difficulty identifying qualified investigators or enrolling patients; the risk that somavaratan may cause serious side effects or have properties that delay or prevent regulatory approval or limit its commercial potential; the risk that we may encounter difficulties in manufacturing somavaratan; if somavaratan is approved, risks associated with its market acceptance, including pricing and reimbursement; potential difficulties enforcing our intellectual property rights; our reliance on our license of intellectual property from Amunix Operating, Inc. and our need for additional funds to support our operations. We discuss many of these risks in greater detail under the heading “Risk Factors” contained in our Annual Report on Form 10-K for the year ended December 31, 2014, which is on file with the Securities and Exchange Commission (SEC), and in our Quarterly Report on Form 10-Q for the three months ended June 30, 2015, which we expect to file with the SEC on or before August 5, 2015. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.
CONTACT: Corporate & Investors:
Joshua Brumm
Chief Financial Officer
(650) 963-8582
IR@versartis.com
Investors:
Nick Laudico
The Ruth Group
(646) 536-7030
nlaudico@theruthgroup.com
Media:
Debra Bannister
Corporate Communications
(530) 676-7373
media@versartis.com
(PEIX) to Present at the Jefferies 2015 Industrials Conference
SACRAMENTO, Calif., Aug. 4, 2015 — Pacific Ethanol, Inc. (NASDAQ:PEIX), a leading producer and marketer of low-carbon renewable fuels in the United States, announced it will present at the Jefferies 2015 Industrials Conference on August 10th. The event will take place in New York City.
Bryon McGregor, Chief Financial Officer, is scheduled to present at 10:00 a.m. ET on Monday, August 10th and will host one-on-one meetings throughout the day. Investors may access a webcast of the presentation by visiting Pacific Ethanol’s website at www.pacificethanol.com.
About Pacific Ethanol, Inc.
Pacific Ethanol, Inc. (PEIX) is the leading producer and marketer of low-carbon renewable fuels in the Western United States. With the addition of four Midwestern ethanol plants in July 2015, Pacific Ethanol more than doubled the scale of its operations, entered new markets, and expanded its mission to be the industry leader in the production and marketing of low carbon renewable fuels. Pacific Ethanol owns and operates eight ethanol production facilities, four in the Western states of California, Oregon and Idaho, and four in the Midwestern states of Illinois and Nebraska. The plants have a combined production capacity of 515 million gallons per year, produce over one million tons per year of ethanol co-products such as wet and dry distillers grains, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast and CO2. Pacific Ethanol markets and distributes ethanol and co-products domestically and internationally. Pacific Ethanol’s subsidiary, Kinergy Marketing LLC, markets all ethanol for the Pacific Ethanol plants as well as for third parties, with over 800 million gallons of ethanol marketed annually based on historical volumes. Pacific Ethanol’s subsidiary, Pacific Ag. Products LLC, markets wet and dry distillers grains. For more information please visit www.pacificethanol.com.
CONTACT: Company IR Contact:
Pacific Ethanol, Inc.
916-403-2755
866-508-4969
Investorrelations@pacificethanol.com
IR Agency Contact:
Becky Herrick
LHA
415-433-3777
Media Contact:
Paul Koehler
Pacific Ethanol, Inc.
916-403-2790
paulk@pacificethanol.com
(ACTA) Adds Executive Vice-President of Sales and Chief Financial Officer
New Executives Bring High-Growth Credentials in Public Sector Sales and Finance
SAINT PAUL, Minn., Aug. 4, 2015 — GovDelivery, the leading cloud-based digital communication solution for government, announced today that the company has bolstered its leadership team with the appointments of Mike Coughlin as chief financial officer and Howard Langsam as executive vice president in charge of sales. These additions to the GovDelivery leadership team follow a period of rapid growth. GovDelivery has closed three acquisitions in the past nine months and has grown its team by 59% since January 2014. Both the St. Paul and Washington D.C. offices have recently been recognized as top workplaces by local media.
“We’re thrilled to have attracted such incredible talent in both Mike and Howard. They are exceptional executives who have the skills and experience to help us execute against our vision of empowering government to make better lives for more people,” said Scott Burns, CEO and co-founder of GovDelivery. “In the past year, GovDelivery has grown and expanded on almost every front and we expect these great additions to our team to take our growth to the next level.”
Langsam will be responsible for driving continued growth at GovDelivery, leading the teams that grow the company’s client base and expand GovDelivery’s work with existing clients. Coughlin will oversee the finance and contracting functions with a focus on building the scalable systems necessary for continued rapid growth.
Langsam’s experience ranges from technology startups to major services firms serving the public sector. He joins GovDelivery from NTT DATA, one of the 10 largest IT services companies in the world. At NTT DATA, Langsam’s most recent role was as a senior vice president in the public sector business unit with general management responsibility for a 9-figure revenue portfolio with a team of more than 700. He joined NTT DATA in late 2008 as vice president of state and local sales where sales nearly tripled in five years. Langsam will be based in GovDelivery’s East coast office in Washington, D.C.
“I have seen firsthand the need for government organizations to improve program results by better connecting with the public,” said Langsam. “GovDelivery is positioned well to address this need, and I’m thrilled to join the team.”
Coughlin started his career in public accounting with E&Y before taking a series of finance leadership positions in growth technology companies over the last 18 years. His compelling success record includes VUE, Inc, now PearsonVUE, the leading certification testing company. Mike acted as CFO in the early stages with the company reaching $100 million in revenue resulting in the sale of VUE. In addition, Mike was the CFO of Paisley Consulting, the leading Governance Risk and Compliance solution provider until its sale to Thomson Reuters. Coughlin has extensive experience in global expansion, scaling cloud-based businesses, SEC compliance, and mergers and acquisitions. He will be based in GovDelivery’s Central office in St. Paul, Minn.
“GovDelivery has a strong position in the market and a lot of upside,” said Coughlin. “I joined the team because of the company’s visionary leadership, the extraordinary role it plays in helping government reach more than 90 million people, and the promise of even faster growth in the future.”
About GovDelivery
GovDelivery empowers government to create better lives for more people. More than 1,000 organizations worldwide use the GovDelivery platform and network to inform and engage over 90 million people. GovDelivery is the only digital marketing platform built exclusively for public sector organizations in order to promote usage of services, enhance public awareness, and increase the contributions and involvement of citizen communities. Visit www.govdelivery.com.
CONTACT: Media contact:
Kelsey Lund
Kelsey.Lund@govdelivery.com
651-925-5766
(PCLN) Named Preferred Menu Provider for OpenTable
SinglePlatform customer menus will update across all OpenTable platforms
Connecting with hungry diners just got a lot easier for restaurants. SinglePlatform from Constant Contact®, Inc. (NASDAQ:CTCT) today announced that OpenTable, Inc., the world’s leading provider of online restaurant reservations, has named SinglePlatform as its new preferred provider of restaurant menus in North America. With this partnership, restaurants that use OpenTable can take advantage of unlimited updates for up to five menus, and SinglePlatform will provide a dedicated support team, ensuring accurate menus that will aid the decision-making of the millions of diners OpenTable seats per month.
“Diners rely on OpenTable to provide all the information they need to discover and book the perfect restaurant, and menus are a key element of the discovery and decision-making experience,” said Scott Jampol, Senior Vice President of Marketing at OpenTable. “By partnering with SinglePlatform, we’re working together to make it easy and seamless for our restaurant customers to update and showcase their latest menus and seasonal fare.”
Via the partnership with SinglePlatform, OpenTable restaurant customers can update their menus from OpenTable’s Restaurant Center and have those updates reflected on the OpenTable site and mobile apps.
“It’s an understatement to say that online search is essential to a local restaurant’s success,” said Pete Chen, vice president and general manager of SinglePlatform from Constant Contact. “Restaurants need to have accurate menu information readily available online, as well as a way for consumers to take action on their restaurant selection.”
About SinglePlatform from Constant Contact
SinglePlatform from Constant Contact gives small businesses a single place to update their critical business information and delivers that information across its publishing partner network, including the top business directory sites, the top ratings and reviews sites, and dozens of other sites and apps, as well as the businesses’ social media profiles, website, and mobile site. It makes a business listing more than an address and phone number by adding the rich content that consumers want when they are searching for information – such as digital menus, products, pricing, and services. In 2014, SinglePlatform’s publishing partner network generated nearly 400 million views for small business locations.
About OpenTable
OpenTable, Inc., part of The Priceline Group (NASDAQ:PCLN), is the world’s leading provider of online restaurant reservations, seating more than 16 million diners per month via online bookings across more than 32,000 restaurants. The OpenTable network connects restaurants and diners, helping diners discover and book the perfect table and helping restaurants deliver personalized hospitality to keep guests coming back. The OpenTable service enables diners to see which restaurants have available tables, select a restaurant based on verified diner reviews, menus, and other helpful information, and easily book a reservation. In addition to the company’s website and mobile apps, OpenTable powers online reservations for nearly 600 partners, including many of the Internet’s most popular global and local brands. For restaurants, the OpenTable hospitality solutions enable them to manage their reservation book, streamline their operations, and enhance their service levels. Since its inception in 1998, OpenTable has seated more than 830 million diners around the world. The Company is headquartered in San Francisco, California, and the OpenTable service is available throughout the United States, as well as in Canada, Germany, Japan, Mexico, and the UK.
OpenTable, OpenTable.com, OpenTable logos, and other service names are the trademarks of OpenTable, Inc. and/or its affiliates.
About Constant Contact®, Inc.
Constant Contact introduced the first email marketing tool for small businesses, nonprofits, and associations in 1998. Today, the company helps more than 650,000 customers worldwide find marketing success through the only all-in-one online marketing platform for small organizations. Anchored by our world-class email marketing tool, Constant Contact helps small businesses drive repeat business and find new customers. It features multi-channel marketing campaigns (newsletters/announcements, offers/promotions, online listings, events/registration, and feedback) combined with shared content, contacts, and reporting; free award-winning coaching and product support; and integrations with critical business tools – all from a single login. The company’s extensive network of educators, consultants/resellers, technology providers, franchises, and national associations offer further support to help small organizations succeed and grow. Through its Innovation Loft, Constant Contact is fueling the next generation of small business technology.
Constant Contact and the Constant Contact Logo are registered trademarks of Constant Contact, Inc. All Constant Contact product names and other brand names mentioned herein are trademarks or registered trademarks of Constant Contact, Inc. All other company and product names may be trademarks or service marks of their respective owners.
Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Constant Contact’s relationship with OpenTable, including SinglePlatform by Constant Contact’s status as OpenTable’s preferred provider of restaurant menus in North America. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “suggest,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions that are not statements of historical fact are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Constant Contact’s control. Constant Contact’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, the success of SinglePlatform by Constant Contact’s relationship with OpenTable, adverse economic conditions in general and adverse economic conditions specifically affecting the markets in which Constant Contact operates, Constant Contact’s ability to successfully develop and introduce new offerings or enhancements to existing products, adverse regulatory or legal developments, litigation risk and expense, Constant Contact’s ability to continue to promote and maintain its brands in a cost-effective manner, changes in the competitive environment, the company’s ability to compete effectively, and other risks detailed in Constant Contact’s most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission as well as other documents that may be filed by the it from time to time with the Securities and Exchange Commission. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Constant Contact’s views as of the date of this press release. Constant Contact anticipates that subsequent events and developments will cause its views to change. Constant Contact undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Constant Contact’s views as of any date subsequent to the date of this press release.
(CTCT-F)
OpenTable
Media Contact:
Tiffany Fox, 415-344-4275
tfox@opentable.com
or
Constant Contact
Media Contact:
Erika Tower, 781-482-7039
pr@constantcontact.com
or
Investor Contact:
Jeremiah Sisitsky, 339-222-5740
ir@constantcontact.com
(CATB) to Present at the Wedbush PacGrow Healthcare Conference
Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB), a clinical-stage drug development company built on a pathway pharmacology technology platform, today announced that Catabasis will present a company overview at the Wedbush PacGrow Healthcare Conference. The Wedbush PacGrow Healthcare Conference will be held August 11 – 12, 2015, in New York, NY at Le Parker Meridien Hotel.
- Jill C. Milne, Ph.D., chief executive officer, will present Catabasis corporate and pipeline updates on August 11, 2015, at 10:20am local time at Le Parker Meridien.
A webcast of the presentation will be available in the Investors section of the Company’s website, www.catabasis.com, and will be archived for 30 days following the presentation.
About Catabasis
Catabasis Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics using its proprietary Safely Metabolized And Rationally Targeted, or SMART, linker technology platform. The Company’s SMART linker technology platform is based on the concept of treating diseases by simultaneously modulating multiple targets in one or more related disease pathways. The Company engineers bi-functional product candidates that are conjugates of two molecules, or bioactives, each with known pharmacological activity, joined by one of its proprietary SMART linkers. The SMART linker conjugates are designed for enhanced efficacy and improved safety and tolerability. The Company’s focus is on treatments for rare diseases. The Company is also developing other product candidates for the treatment of serious lipid disorders. For more information on the Company’s technology and pipeline of drug candidates, please visit www.catabasis.com.
About CAT-1004
CAT-1004 is an oral small molecule that inhibits activated NF-kB, a protein that coordinates cellular response to muscular damage, stress and inflammation and plays an important role in muscle health. In skeletal muscle, activated NF-kB drives muscle degeneration and suppresses muscle regeneration. In animal models of DMD, CAT-1004 inhibited activated NF-kB, reduced muscle inflammation and degeneration and increased muscle regeneration. In Phase 1 clinical trials, CAT-1004 inhibited activated NF-kB and was well-tolerated with no observed safety concerns. The FDA has granted CAT-1004 orphan drug and fast track designations for the treatment of DMD.
About CAT-2054
CAT-2054 is an investigational oral drug initially being developed for the treatment of hypercholesterolemia in patients for whom existing therapies are insufficient. By modulating the SREBP pathway, CAT-2054 may inhibit production of important cholesterol metabolism proteins such as PCSK9, HMG-CoA reductase, ATP citrate lyase and NPC1L1. If approved, CAT-2054, may have the potential to be the first therapy to simultaneously modulate cholesterol synthesis, clearance and absorption.
Corporate and Media Contact
Catabasis Pharmaceuticals, Inc.
Andrea Matthews, 617-349-1971
amatthews@catabasis.com
(FTEK) Awarded Air Pollution Control Orders Totaling $4.7 Million
Fuel Tech, Inc. (NASDAQ:FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications, today announced the receipt of multiple air pollution control (APC) contracts from customers in the US, Europe and China. These awards have an aggregate value of approximately $4.7 million.
The first US order is for engineering and long-lead equipment for an Electrostatic Precipitator (ESP) retrofit on a Midwestern coal-fired unit. Preliminary engineering is scheduled to complete in the third quarter of 2015. The project is designed to improve the performance of the plant to meet the Environmental Protection Agency’s upcoming Mercury and Air Toxics Standards (MATS) for particulate emissions. The plant will utilize dry sorbent injection and activated carbon injection to control acid gas and mercury emissions. The ESP upgrades are scheduled to complete in the second quarter of 2016 and, when implemented, will capture the fly ash and sorbents.
Two additional US contracts were received for ESP equipment and optimization services for utility boilers in the Midwest, with deliveries scheduled for the third quarter of 2015. In addition, a US order for upgrades to an existing Selective Catalytic Reduction (SCR) system was received for an industrial gas-fired boiler. These upgrades are designed to optimize performance and reliability for SCR performance, with delivery scheduled for the third quarter of 2015.
In the UK, a contract was received for Fuel Tech’s NOxOUT® Selective Non-Catalytic Reduction (SNCR) technology for a unit burning biomass. Delivery for the system is scheduled for the fourth quarter of 2015. This is the second recent order for SNCR technology in the UK, and follows the order announced in May for Fuel Tech’s Advanced NOxOUT® Selective Non-Catalytic Reduction (ASNCR) technology at the Drax Power Station for four boilers burning both coal and biomass.
Fuel Tech is working with Doosan Babcock to provide an emissions control solution to meet the requirements of the European Union’s Industrial Emissions Directive. Through the utilization of advanced control and injection systems in conjunction with more accurate boiler data, ASNCR optimizes urea injection to improve NOx reduction performance and minimize reagent costs.
In China, five orders were received for multiple ULTRA™ systems that will be installed on utility coal-fired units being retrofitted with NOx reduction technology. Fuel Tech’s ULTRA process provides for the safe and cost-effective on-site conversion of urea to ammonia for use as a reagent in the SCR process for NOx control, eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. Equipment deliveries are expected to occur in the third quarter of 2015.
Vincent J. Arnone, President and Chief Executive Officer, commented, “We are excited about the ESP orders as utility plant operators continue to meet MATS emission requirements. The recent Supreme Court ruling raised questions about MATS compliance dates, and these contracts support predictions by many industry experts that compliance dates for 2016 will remain on schedule. The contracts in the UK demonstrate recent growth in the European market and we are pleased to work with Doosan Babcock as we see potential for other projects within the European Union.”
Mr. Arnone continued, “Our ULTRA technology simplifies on-site ammonia generation for SCR applications of all types. We are pleased to see that our air pollution control product line continues to play a role in assisting China in its endeavor to reduce harmful air pollutants.”
About Fuel Tech
Fuel Tech is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. These technologies enable customers to produce energy and processed materials in a cost-effective and environmentally sustainable manner.
The Company’s nitrogen oxide (NOx) reduction technologies include advanced combustion modification techniques and post-combustion NOx control approaches, including NOxOUT®, HERT™, and Advanced SNCR systems, ASCR™ Advanced Selective Catalytic Reduction systems, and I-NOx™ Integrated NOx Reduction Systems, which utilize various combinations of these systems, along with the ULTRA™ process for safe ammonia generation. These technologies have established Fuel Tech as a leader in NOx reduction, with installations on over 900 units worldwide.
Fuel Tech’s technologies for particulate control include Electrostatic Precipitator (ESP) products and services including complete turnkey capability for ESP retrofits, with experience on units up to 700 MW. Flue gas conditioning (FGC) systems include treatment using sulfur trioxide (SO3) and ammonia (NH3) based conditioning to improve the performance of ESPs by modifying the properties of the fly ash particle. Fuel Tech’s particulate control technologies have been installed on more than 125 units worldwide.
The Company’s FUEL CHEM® technology revolves around the unique application of chemicals to improve the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion, opacity and improving boiler operations. The Company has experience with this technology, in the form of a customizable FUEL CHEM program, on over 110 units.
Fuel Tech also provides a range of services, including boiler tuning and selective catalytic reduction (SCR) optimization services. In addition, flow corrective devices and physical and computational modeling services are available to optimize flue gas distribution and mixing in both utility and industrial applications.
Many of Fuel Tech’s products and services rely heavily on the Company’s exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. These capabilities, coupled with innovative technologies and a multi-disciplined team approach, enable Fuel Tech to provide practical solutions to many of our customers’ most challenging problems. For more information, visit Fuel Tech’s web site at www.ftek.com.
This press release may contain statements of a forward-looking nature regarding future events. These statements are only predictions and actual events may differ materially. Please refer to documents that Fuel Tech files from time to time with the Securities and Exchange Commission for a discussion of certain factors that could cause actual results to differ materially from those contained in the forward-looking statements.
Fuel Tech, Inc.
David S. Collins, 630-845-4500
Chief Financial Officer
or
The Equity Group Inc.
Devin Sullivan, 212-836-9608
Senior Vice President
(CORI) Announces Proposed Public Offering of Common Stock
MENLO PARK, Calif., Aug. 3, 2015 — Corium International, Inc. (Nasdaq:CORI), a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty transdermal products, announced today that it has commenced an underwritten public offering of up to 4,000,000 shares of its common stock. Corium also expects to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of its common stock offered in the public offering. All of the shares will be offered and sold by Corium.
Jefferies LLC and Leerink Partners LLC are acting as joint book-running managers for the offering. Needham & Company, LLC is acting as lead manager. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Corium intends to use the net proceeds from this offering for general corporate purposes, which may include funding research and development, increasing its working capital, acquisitions or investments in businesses, products or technologies that are complementary to its own and capital expenditures.
The public offering will be made pursuant to a shelf registration statement on Form S-3 that was filed by Corium with the Securities and Exchange Commission (“SEC”) on May 8, 2015 and declared effective by the SEC on May 21, 2015. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY, 10022, by telephone at 877-821-7388, or by email at Prospectus_Department@Jefferies.com, or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525 ext. 6142, or by email at syndicate@leerink.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy Corium’s common stock, nor shall there be any sale of Corium’s common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations of offers to buy, or sales of the common stock will only be made pursuant to the registration statement filed with the SEC, including a prospectus and a related prospectus supplement.
About Corium
Corium International, Inc. is a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty pharmaceutical products that leverage the company’s broad experience in advanced transdermal and transmucosal delivery systems. Corium has developed and is the sole commercial manufacturer of seven prescription drug and consumer products with partners Teva Pharmaceuticals, Par Pharmaceutical and Procter & Gamble. The company has two proprietary transdermal platforms: Corplex™ for small molecules and MicroCor®, a biodegradable microstructure technology for small molecules and biologics, including vaccines, peptides and proteins. The company’s late-stage pipeline includes a contraceptive patch co-developed with Agile Therapeutics that is currently in Phase 3 trials, and additional transdermal products that are being co-developed with Teva. Corium has multiple proprietary programs in preclinical and clinical development for the treatment of osteoporosis and neurological disorders. For further information, please visit www.coriumgroup.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein which do not describe historical facts, including but not limited to statements regarding the proposed public offering, the anticipated use of proceeds of the offering and the expectations regarding size and timing of completion of the offering, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include, among others, the risks identified in Corium’s filings with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on July 30, 2015, the preliminary prospectus supplement related to the proposed public offering and subsequent filings with the SEC. Any of these risks and uncertainties could materially and adversely affect Corium’s results of operations, which would, in turn, have a significant and adverse impact on Corium’s stock price. Corium cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Corium undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.
CONTACT: Investor and Media Contact:
Karen L. Bergman
BCC Partners
kbergman@bccpartners.com
(650) 575-1509
(CFMS) Customized Knee Replacement Study Results At 2015 Pan Pacific Intnl. Conference
ConforMIS’s Customized iTotal CR Knee Replacements Demonstrate Superior Functional Outcomes Compared to Off-the-Shelf Knee Replacements in Multiple Studies
BEDFORD, Mass., Aug. 3, 2015 — ConforMIS, Inc. (NASDAQ:CFMS) announced today results from six clinical studies presented at the 2015 Pan Pacific International Congress for Joint Reconstruction (ICJR). In an ongoing, blinded, US multicenter study, the investigators reported that patients with customized ConforMIS iTotal CR knee replacements were more likely to have an excellent or good objective Knee Society Score (KSS) and walked statistically significantly faster than patients with standard, off-the-shelf total knee replacements.
For this study, researchers at seven US centers performed an interim analysis of 295 consecutively enrolled total knee replacement patients using a variety of functional tests and the KSS, a validated testing instrument used to assess patient outcomes. The objective component of the KSS measures factors such as range of motion, alignment, and stability, which are important for regaining functional abilities. Patients with iTotal CR knee replacements were 1.7 times more likely to achieve an excellent or good objective KSS, whereas patients with off-the-shelf knee replacements were 2.6 times more likely to achieve a poor objective KSS.
In a separate, validated functional test administered during this study, known as the Aggregated Locomotor Function (ALF) test, blinded operators assessed patients’ ability to perform various activities of daily living, including walking, standing from a chair and climbing stairs. Patients with iTotal CR knee replacements showed a statistically significantly better ALF score than patients with off-the-shelf knee replacements. In addition to achieving an overall better ALF score, the data also showed statistical significance in one individual component of the ALF test: patients with iTotal CR knee replacements walked statistically significantly faster than patients with off-the-shelf knee replacements.
“After performing several thousand total knee replacements, I have seen firsthand that using a customized implant designed specifically for each patient could have a significant impact on restoring function and improving overall patient satisfaction and ability to perform daily activities,” said Robert Tait, MD, Chief of Staff at St. Rose Dominican Hospital Siena in Henderson, Nev., and lead investigator on this clinical study. “This new data provides additional clinical evidence demonstrating that customized knee implants can deliver measurable advantages for patients that have a direct and positive impact on patient quality of life.”
Other studies presented at ICJR evaluated the ConforMIS iTotal CR knee replacement with regard to kinematics, safety profile and patient satisfaction:
- The lead investigator in a prospective, single-arm, multicenter study of 252 patients with iTotal CR knee replacements presented results at ICJR that showed high patient reported outcome scores, high range of motion, short hospital stay and excellent safety profile.
- In two other studies, investigators used real-time x-ray imaging with mobile fluoroscopy to study the movement, or kinematics, of the knee during deep knee bend and chair rise in patients with iTotal CR knee replacements compared to patients with off-the-shelf knee replacements. In the first study, investigators analyzed a total of 63 total knee replacements implanted by a single surgeon. The investigators observed knee motion that was more consistent with normal knee movement in patients with iTotal CR knee replacements compared to patients with off-the-shelf knee replacements. In addition, during a deep knee bend, patients with iTotal CR knee replacements achieved greater weight bearing flexion compared to patients with off-the-shelf knee replacements. In the second study, investigators analyzed 38 patients with total knee replacements. During a deep knee bend, 35% of patients with off-the-shelf knee replacements experienced implant lift-off in early flexion, whereas none (0%) of the patients with iTotal CR knee replacements experienced implant lift-off in early flexion. This difference was statistically significant. According to the investigators in this study, implant lift-off in early flexion is correlated with mid-flexion instability, a common source of patient dissatisfaction after knee replacement.
Additional studies presented at ICJR relating to customized ConforMIS iUni and iDuo partial knee replacements showed high patient satisfaction scores at two or more years post-surgery:
- In a prospective, single-arm, multicenter study, 118 patients with ConforMIS iUni knee replacements demonstrated improved range of motion and high functional scores at two years post-surgery, with 89% of patients stating that the movement of their knee felt natural.
- In a single-center study of 31 patients with ConforMIS iDuo customized implants, investigators found that a majority of patients rated their result as good or excellent, and 97% of patients reported that they would hypothetically undergo the same surgery again.
“Previous clinical studies have shown that about 20% of patients who receive a total knee replacement are not satisfied with the results. By focusing on the patient and specifically each patient’s unique anatomy, we believe ConforMIS is transforming the knee replacement experience for patients,” said Philipp Lang, MD, MBA, Chief Executive Officer and President of ConforMIS. “By designing implants to match the fit and natural curves of each patient’s knee, we believe our iTotal CR, iUni and iDuo knee replacements can provide patients with improved functional outcomes and higher overall satisfaction levels.”
About ConforMIS, Inc.
ConforMIS is a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants that are individually sized and shaped, or customized, to fit each patient’s unique anatomy. ConforMIS offers a broad line of customized knee implants and pre-sterilized, single-use instruments delivered in a single package to the hospital. In recent clinical studies, ConforMIS iTotal CR demonstrated superior clinical outcomes, including better function and greater patient satisfaction, compared to traditional, off-the-shelf implants. In addition, we believe ConforMIS implants provide economic advantages for hospitals by improving patient recovery times, reducing blood loss and reducing adverse event rates at discharge. ConforMIS owns or exclusively in-licenses approximately 470 issued patents and pending patent applications that cover customized implants and patient-specific instrumentation for all major joints. For more information, visit www.conformis.com.
Cautionary Statement Regarding Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for ConforMIS, including statements about ConforMIS’s strategy, future operations, future financial position and expected market growth, including expectations regarding the potential impact and advantages of using customized implants and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including risks related to our estimates regarding the potential market opportunity for our current and future products, our expectations regarding our sales, expenses, gross margins and other results of operations, and the other risks and uncertainties described in the “Risk Factors” sections of our public filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent ConforMIS’s views as of the date hereof. ConforMIS anticipates that subsequent events and developments may cause ConforMIS’s views to change. However, while ConforMIS may elect to update these forward-looking statements at some point in the future, ConforMIS specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing ConforMIS’s views as of any date subsequent to the date hereof.
CONTACT: Investor Contact:
Oksana Bradley
ir@conformis.com
(781) 374-5598
Media Contacts:
Bill Berry
Berry & Company Public Relations
Bberry@berrypr.com
(212) 253-8881
Lynn Granito
Berry & Company Public Relations
Lgranito@berrypr.com
(212) 253-8881
(CDRB) Announces Closing of ThinOps Resources LLC Acquisition
MAUI, Hawaii and NEW YORK, Aug. 3, 2015 — Code Rebel Corp. (NASDAQ: CDRB), an enterprise software development firm that licenses its proprietary software solution to enable simplified secure access and communications between PC and Mac environments on virtually any computer, tablet, or smartphone, announced today that it closed its previously announced acquisition of all of the outstanding membership interests of ThinOps Resources LLC from Thomas M. Moreno, ThinOps Resources’ sole member. ThinOps Resources is a management and technology consulting services firm based in Houston, Texas, which had revenue of over $2 million in 2014. As of the closing, ThinOps is a wholly-owned, independently operated subsidiary of Code Rebel.
Under the terms of the Membership Interest Purchase Agreement, Code Rebel paid to Mr. Moreno a combination of $9.25 million in cash and stock, including the issuance of 667,511 shares of its common stock at a price of approximately $12.73 per share, which was based on the volume weighted average closing price of Code Rebel’s common stock on the Nasdaq Capital Market for the ten trading days immediately preceding the closing date. In connection with the Membership Interest Purchase Agreement, Code Rebel also entered into an employment letter agreement with Mr. Moreno to serve as ThinOps’ President for three years.
The acquisition brings a number of benefits to Code Rebel, including:
- Increased revenues;
- An increase in the capacity of its in-house sales and project support team to support Code Rebel’s expanding distribution channels; and
- Access to potential new customers and users of Code Rebel’s software.
At the closing, Code Rebel had outstanding 13,350,225 shares of common stock after reflecting the issuance. The shares of Code Rebel common stock issued in the transaction have not been registered under the Securities Act of 1933.
About ThinOps
ThinOps Resources provides products and services to a wide variety of organizations from leading academic institutions and healthcare organizations to many Fortune 500 companies located around the country and abroad. In the consulting business, having a true understanding of the client needs only comes from experienced people that have “earned their experience.” Our service offerings focus on understanding our client’s needs and providing them a focused roadmap and supporting plan on how to bridge the gap between business theory and business reality.
About Code Rebel
Code Rebel is an enterprise software company that develops, licenses, and supports software designed for cross-platform enterprise security and productivity. The proprietary Code Rebel iRAPP software addresses the growing requirement of corporate IT departments for secure access from diverse enterprise devices. Code Rebel software was developed by its in-house engineering team to address the demand for secure interoperability between mobile, desktop, and server environments and interaction between Apple and Microsoft devices and software. Code Rebel software facilitates mobile, desktop, and server environment interoperability seamlessly across Apple and Microsoft devices and software. The company provides enterprise client support for its software to a diverse range of industries. For more information visit: http://www.coderebel.com.
Forward-Looking Statements
This press release contains information about Code Rebel’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of software and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Code Rebel encourages you to review other factors that may affect its future results in Code Rebel’s registration statement and in its other filings with the Securities and Exchange Commission.
Code Rebel Investor Relations Contact:
Howard Gostfrand, President
American Capital Ventures
Phone: 305.918.7000
Email: info@amcapventures.com
www.amcapventures.com
(PPSI) Acquires Pacific Power Systems Integration, Inc.
Acquisition Rounds Out Product Suite and Expands Customer Base
FORT LEE, N.J., Aug. 3, 2015 — Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (“Pioneer” or the “Company”), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment, today announced that its Pioneer CEP subsidiary had acquired substantially all of the assets of Pacific Power Systems Integration, Inc. (“Pacific”).
Pacific specializes in manufacturing custom electrical power distribution and control equipment, with a specific emphasis on low voltage draw-out, metal-enclosed and metal-clad switchgear. Pacific has successfully completed more than 100 projects over the last 15 years through EPC firms and directly with customers, mostly in the oil refining, utility and mass transit sectors, including: Jacobs Engineering, British Petroleum, Conoco Phillips, Pacific Gas & Electric, LADWP, SMUD and transportation agencies such as the LA Metropolitan Transportation Authority, Bay Area Rapid Transit and the Port Authority of New York and New Jersey.
The acquisition significantly enhances Pioneer CEP’s technical qualifications with more advanced classifications of switchgear, and provides access to larger, long-cycle project opportunities, new customers and end markets where Pioneer should be able to leverage its full suite of engineered product solutions. By December 2015, Pacific’s facility is expected to be closed and its operations consolidated into Pioneer CEP’s larger facility, located five miles away in Santa Fe Springs, California.
“This acquisition effectively completes our portfolio of low and medium voltage switchgear offerings, and is expected to sustain our overall growth objectives for years to come,” commented Nathan Mazurek, Pioneer’s Chairman and Chief Executive Officer. “At the same time, it provides multiple new avenues to drive efficiency and operational growth in both our T&D Solutions and Critical Power Solutions businesses. The rippling effect of this transaction will be felt throughout Pioneer, as it enables us to capitalize on new production and internal supply chain synergies, and should generate incremental sales across the organization, given the breadth of solutions we now have to offer. Our team’s focus on operational execution, both internally and externally, will be critical. I am confident that our efforts will place us in a stronger market position from which to engage and serve our customers, and improve our financial performance in 2016 and beyond.”
Kytchener Whyte, Pacific’s founder, added, “I am thrilled to be reunited with so many of my former colleagues at Pioneer, and look forward to working closely with Pioneer CEP’s President, Geo Murickan, to help take the combined business to the next level.”
Financial terms of the transaction were not disclosed. Based on Pacific’s current order backlog, the timing of the acquisition and integration activities remaining to be completed, the Company expects the transaction to be neutral to full-year 2015 non-GAAP earnings. In 2016, the acquisition is expected to be approximately $0.05 to $0.10 accretive to non-GAAP earnings per share.
About Pioneer Power Solutions, Inc.
Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company’s principal products and services include custom-engineered electrical transformers, switchgear and engine-generator sets and controls, complemented by a national field-service organization to maintain and repair power generation assets. Pioneer is headquartered in Fort Lee, New Jersey and operates from 14 additional locations in the U.S., Canada and Mexico for manufacturing, centralized distribution, engineering, sales, service and administration. To learn more about Pioneer, please visit our website at www.pioneerpowersolutions.com.
Safe Harbor Statement:
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company’s ability to expand its business through strategic acquisitions, (ii) the Company’s ability to integrate acquisitions and related businesses, (iii) the fact that many of the Company’s competitors are better established and have significantly greater resources, and may subsidize their competitive offerings with other products and services, which may make it difficult for the Company to attract and retain customers, (iv) the Company’s dependence on Hydro-Quebec Utility Company and Siemens Industry, Inc. for a large portion of its business, and the fact that any change in the level of orders from Hydro-Quebec Utility Company or Siemens Industry, Inc. could have a significant impact on the Company’s results of operations, (v) the potential loss or departure of key personnel, including Nathan J. Mazurek, the Company’s Chairman, President and Chief Executive Officer, (vi) the fact that fluctuations between the U.S. dollar and the Canadian dollar will impact the Company’s revenues, (vii) the Company’s ability to generate internal growth, (viii) market acceptance of existing and new products, (ix) the Company’s dependence on a distributor agreement with Generac Power Systems through which it derives a significant portion of its revenues, (x) operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, material, labor or overhead cost increases, interest rate risk and commodity risk, (xi) restrictive loan covenants or the Company’s ability to repay or refinance debt under its credit facilities that could limit the Company’s future financing options and liquidity position and may limit the Company’s ability to grow its business, (xii) general economic and market conditions in the electrical equipment, power generation, commercial construction, industrial production, oil and gas, marine and infrastructure industries, (xiii) the impact of geopolitical activity on the economy, changes in government regulations such as income taxes, climate control initiatives, the timing or strength of an economic recovery in the Company’s markets and the Company’s ability to access capital markets, (xiv) the fact that unanticipated increases in raw material prices or disruptions in supply could increase production costs and adversely affect the Company’s profitability, (xv) the fact that the Company’s Chairman controls a majority of the Company’s combined voting power, and may have, or may develop in the future, interests that may diverge from yours, (xvi) material weaknesses in the Company’s internal control over financial reporting that could have an adverse effect on the Company’s business and common stock price, and (xvii) the fact that future sales of large blocks of the Company’s common stock may adversely impact the Company’s stock price. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual and Quarterly Reports on Form 10-K and Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
CONTACT:
Brett Maas, Managing Partner
Hayden IR
(646) 536-7331
brett@haydenir.com
(LXRX) Positive Top-Line Results For Pivotal Phase 3 Telotristat Etiprate Cancer Study
Telotristat Etiprate has FDA Fast-Track, Orphan Drug Status Conference call and webcast on August 3, 2015 at 8:00 a.m. Eastern Time
THE WOODLANDS, Texas, Aug. 3, 2015 — Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced that the pivotal TELESTAR Phase 3 clinical trial met its primary endpoint, showing the benefit of oral telotristat etiprate in treating cancer patients with carcinoid syndrome that is not adequately controlled by the current standard of care. Telotristat etiprate was discovered using Lexicon’s gene science, based on Nobel Prize-winning technology, and is the company’s first discovery to complete a pivotal Phase 3 clinical trial. If approved, telotristat etiprate would be the first oral treatment successfully developed for carcinoid syndrome and the first addition to the standard of care in more than 16 years[1].
Top-line results from the Phase 3 study show that patients who added telotristat etiprate to the standard of care at both the 250 mg and 500 mg doses experienced a statistically significant reduction from baseline compared to placebo in the average number of daily bowel movements over the 12-week study period (p<0.001), meeting the study’s primary endpoint.
“We are extremely pleased with these top-line results,” said Lexicon President and Chief Executive Officer Lonnel Coats. “Carcinoid syndrome is severely debilitating, preventing many patients from leading active and predictable lives, and unfortunately, a majority of patients will not be adequately controlled over time with the current standard of care. We are committed to working closely with the FDA to file our first new drug application (NDA) and to bring this innovative new treatment to patients whose lives are already impacted by the challenges of cancer.”
“The TELESTAR results are promising, and the community of patients and caregivers who live and deal with carcinoid syndrome are excited about the prospect of a new treatment becoming available,” said principal investigator Matthew H. Kulke, M.D., Director, Program in Neuroendocrine and Carcinoid Tumors and Senior Physician, Dana Farber Cancer Institute, and Associate Professor of Medicine, Harvard Medical School.
Lexicon received Fast Track designation and Orphan Drug status for telotristat etiprate from the U.S. Food and Drug Administration (FDA) in 2008 and 2012, respectively. The company plans to announce complete results from the Phase 3 TELESTAR study at an upcoming scientific conference.
About Carcinoid Syndrome
Carcinoid syndrome is a rare disease affecting thousands of patients with neuroendocrine tumors that originate in the gastrointestinal tract and metastasize or spread to the liver or other organs. Overproduction of serotonin within these metastatic neuroendocrine tumor (mNET) cells is a driver of carcinoid syndrome, which is characterized by debilitating diarrhea, facial flushing, abdominal pain, heart valve damage and other serious consequences. The severe and unpredictable diarrhea associated with carcinoid syndrome has a profound impact on cancer patients’ lives, often preventing them from participating in daily activities.
The current standard of care for carcinoid syndrome is somatostatin analog depot injection (SSA), first approved in 1998. SSA therapy fails to maintain adequate control of carcinoid syndrome for most patients, with many becoming not adequately controlled within the first two years after the therapy is initiated. Patients with carcinoid syndrome can live for many years with metastatic cancer, requiring the need for long-term treatment options to effectively manage their disease[2].
About TELESTAR
The double-blind Phase 3 study known as TELESTAR (Telotristat Etiprate for Somatostatin Analogue Not Adequately Controlled Carcinoid Syndrome) enrolled 135 patients with carcinoid syndrome which was not adequately controlled on SSA therapy, the current standard of care. The three-arm study evaluated two doses of oral telotristat etiprate – 250 mg and 500 mg, each taken three times daily – against placebo over a 12-week period and measured the reduction from baseline in the average number of daily bowel movements. Patients in both the treatment and placebo arms continued their SSA therapy throughout the study.
Top-line results from TELESTAR show that patients who added telotristat etiprate to the standard of care at both the 250 mg and 500 mg doses experienced a statistically significant reduction from baseline compared to placebo in the average number of daily bowel movements over the 12-week study period (p<0.001), meeting the study’s primary endpoint.
In a key secondary measure, a substantially greater proportion of patients on telotristat etiprate achieved a durable response (44 percent and 42 percent in the 250 mg and 500 mg arms, respectively), defined as at least a 30 percent reduction in daily bowel movements over at least half the days of the study period, as compared to 20 percent response on placebo (p<0.040).
Patients who received 250 mg of telotristat etiprate experienced a 29 percent reduction in the average number of daily bowel movements during the final week (week 12) of the study period compared to baseline, and those in the 500 mg arm experienced a 35 percent reduction, while the placebo group showed a 17 percent reduction. These results are consistent with those seen in the 12-week Phase 2 study of telotristat etiprate.
The proportion of patients with treatment-emergent adverse events (AEs), serious AEs and discontinuation due to AEs were generally similar in all three treatment arms. The tolerability profile of the telotristat etiprate 250 mg dose appeared similar to placebo and somewhat better than the 500 mg dose with respect to gastrointestinal discomfort and mood. The overall incidence and nature of AEs in TELESTAR was consistent with those reported in previous studies. Further in depth analysis of safety and tolerability data will be conducted.
The 12-week study period is being followed by a 36-week open-label extension where all patients receive telotristat etiprate 500 mg three times daily.
About Telotristat Etiprate
Discovered using Lexicon’s unique approach to gene science, telotristat etiprate is the first investigational drug in clinical studies to target tryptophan hydroxylase (TPH), an enzyme that triggers the excess serotonin production within mNET cells that leads to carcinoid syndrome. While existing treatments for carcinoid syndrome work to reduce the release of serotonin outside tumor cells, telotristat etiprate works at the source to reduce serotonin production within the tumor cells. By specifically inhibiting serotonin production, telotristat etiprate seeks to control this important driver of carcinoid syndrome and, in turn, provide patients with more control over their disease.
Lexicon retains rights to market telotristat etiprate in the U.S. and Japan, and is building the in-house commercial infrastructure to serve the U.S. market. The company has a license and collaboration agreement with Ipsen to commercialize telotristat etiprate in Europe and other countries outside the U.S. and Japan.
Lexicon Conference Call
Lexicon management will hold a conference call and webcast to discuss the TELESTAR Phase 3 top-line results at 8:00 a.m. Eastern Time on August 3, 2015. The dial-in number for the conference call is 888-645-5785 (within the US/Canada) or 970-300-1531 (international). The conference ID for all callers is 37172080. Investors can access a live webcast of the call at www.lexpharma.com. An archived version of the webcast will be available on the website through September 2, 2015.
About Lexicon
Lexicon is a fully integrated biopharmaceutical company that is applying a unique approach to gene science based on Nobel Prize-winning technology to discover and develop precise medicines for patients with serious, chronic conditions. Through its Genome5000™ program, Lexicon scientists have studied the role and function of nearly 5,000 genes over the last 20 years and have identified more than 100 protein targets with significant therapeutic potential in a range of diseases. Through the precise targeting of these proteins, Lexicon is pioneering the discovery and development of innovative medicines to safely and effectively treat disease. Lexicon has a pipeline of promising drug candidates in clinical and pre-clinical development in oncology, diabetes and metabolism. For additional information please visit www.lexpharma.com.
Safe Harbor Statement
This press release contains “forward-looking statements,” including statements relating to Lexicon’s clinical development of telotristat etiprate (LX1032), including characterizations of the results of and projected timing of clinical trials and the potential therapeutic and commercial potential of telotristat etiprate. In addition, this press release also contains forward-looking statements relating to Lexicon’s growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. All forward-looking statements are based on management’s current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to Lexicon’s ability to meet its capital requirements, successfully conduct clinical development of telotristat etiprate and preclinical and clinical development of its other potential drug candidates, obtain necessary regulatory approvals, achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, as well as additional factors relating to manufacturing, intellectual property rights, and the therapeutic or commercial value of its drug candidates, that may cause Lexicon’s actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under “Risk Factors” in Lexicon’s annual report on Form 10-K for the year ended December 31, 2014, as filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
[1] Octreotide acetate for injectable suspension was approved by FDA for the treatment of carcinoid syndrome in 1998.
[2] Shebani KO, Souba WW, Finkelstein DM, et al. (1999). Prognosis and Survival in Patients With Gastrointestinal Tract Carcinoid Tumors. Annals of Surgery. 1999;229(6):815.
(GAI) Announces Receipt of a Preliminary Non-Binding “Going Private” Offer
Global-Tech Advanced Innovations Inc. (NASDAQ: GAI) today announced that its Board of Directors (the “Board”) has received an unsolicited preliminary non-binding proposal letter, dated August 1, 2015, from Mr. John C.K. Sham, President and Chief Executive Officer of the Company, and certain of his controlled or affiliated entities (collectively, the “Acquirer”), proposing a potential offer to acquire all of the outstanding common shares of the Company (the “Offer”) not already beneficially owned or controlled by the Acquirer for $8.75 in cash per share (“Shares”).
According to the proposal letter, the Acquirer plans to form an acquisition company for the purpose of implementing the Offer, and the Offer is intended to be financed with a combination of cash and debt. The proposal letter states that the Acquirer is confident of its ability to timely secure adequate financing to consummate the Offer subject to the terms and conditions set out therein. A copy of the proposal letter is attached hereto as Exhibit A.
The Company’s Board of Directors intends to form a special committee comprised of and selected by independent directors (the “Special Committee”) to consider the proposal and any resulting Offer. The Special Committee is authorized to retain advisors, including an independent financial advisor and legal counsel, to assist it in evaluating any such proposal or Offer.
The Board cautions the Company’s shareholders and others considering trading in its securities since the Board has just received the unsolicited preliminary non-binding proposal letter from the Acquirer and no decisions have been made with respect to the Company’s response to the proposal. There can be no assurance that any definitive offer will be made, or that if an offer is received, that such an offer or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.
Global-Tech Advanced Innovations Inc. is a holding company, owning subsidiaries that manufacture and market electronic components and other related products, such as complementary metal oxide semiconductor (CMOS) camera modules (CCMs). The primary focus of its subsidiaries is to develop and market high-quality products for the communications industry in China and export such products to markets in other countries throughout the world.
Except for historical information, certain statements contained herein are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should,” “estimates,” or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are subject to risks and uncertainties, including but not limited to, the impact of competitive products and pricing, demand for new and existing products in our core business, the financial condition of the Company’s customers, product demand and market acceptance especially of our new products, the success of new product development especially in the area of cellular phone components and solutions, compact camera modules and other pending projects, reliance on material customers, suppliers and key strategic alliances, the terms and conditions of customer contracts and purchase orders, availability and cost of raw materials, the timely and proper execution of certain business plans, including the plan to diversify and transform a portion of manufacturing capacity to higher-value, technology-oriented products, currency fluctuations, including the revaluation of the Chinese Renminbi, the imposition by China’s trading partners of economic sanctions and/or protective tariffs on Chinese manufactured goods, uncertainties associated with investments, the regulatory environment, fluctuations in operating results, the impact of changing global, political and economic conditions and other risks detailed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission including its most recent Report on Form 20-F. The Company does not undertake to update its forward-looking information, or any other information contained or referenced in this press release to reflect future events or circumstances.
Exhibit A
August 1, 2015
The Board of Directors
Global-Tech Advanced Innovations Inc.
12/F., Kin Teck Industrial Building
26 Wong Chuk Hang Road
Aberdeen, Hong Kong
Dear Directors:
John C.K. Sham, President and Chief Executive Officer of Global-Tech Advanced Innovations Inc. (the “Company”), and certain of his controlled or affiliated entities (collectively, the “Acquirer”) are pleased to submit this preliminary non-binding proposal to acquire all outstanding common shares (the “Shares”) of the Company not beneficially owned or controlled by the Acquirer in a going-private transaction (the “Acquisition”). Our proposed purchase price for each Share of the Company is $8.75 in cash.
We believe that our proposal provides an attractive opportunity for the Company’s shareholders. Our proposed purchase price represents a premium of approximately 192% to the closing trading price of the Company’s Shares on July 31, 2015 and a premium of approximately 169% and 153% to the average closing trading price during the last 30 and 60 trading days, respectively.
1. Acquirer. The Acquirer, for the purpose of the Acquisition, plans to form an acquisition company for the purpose of implementing the Acquisition.
2. Purchase Price. The consideration payable for each Share of the Company will be $8.75 in cash per Share (other than those Shares held or controlled by the Acquirer that may be rolled over in connection with the Acquisition).
3. Funding. Acquirer intends to finance the Acquisition with a combination of cash and debt and is confident of its ability to timely secure adequate financing to consummate the Acquisition subject to the terms and conditions set out therein.
4. Due Diligence. We believe that we will be in a position to complete customary due diligence for the Acquisition in a timely manner and in parallel with discussions on the definitive agreements. We respectfully ask the board of directors of the Company (the “Board”) to accommodate such due diligence request and approve the provision of confidential information relating to the Company and its business to potential sources of debt financing subject to a customary form of confidentiality agreement.
5. Definitive Agreements. We are prepared to promptly negotiate and finalize definitive agreements (the “Definitive Agreements”) providing for the Acquisition and related transactions. This proposal is subject to execution of the Definitive Agreements. These documents will provide for representations, warranties, covenants and conditions, which are typical, customary and appropriate for transactions of this type.
6. Process. We believe that the Acquisition will provide superior value to the Company’s shareholders. We recognize that the Board will evaluate the Acquisition independently before it can make its determination to endorse it. Given the involvement of Mr. Sham in the Acquisition, we expect that the independent, disinterested members of the Board will proceed to consider the proposed Acquisition. In considering our offer, the Board should be aware that the Acquirer is interested only in acquiring the outstanding Shares that it does not already beneficially own or control, and that the Acquirer does not intend to sell any of its stake (owned or controlled) in the Company to any third party.
7. Confidentiality. The Acquirer will, as required by law, promptly file any document required with the U.S. Securities and Exchange Commission to disclose this proposal. However, we are sure you will agree that it is in all of our interests to ensure that we proceed in a strictly confidential manner, unless otherwise required by law, until we have executed Definitive Agreements or terminated our discussions.
8. No Binding Commitment. This letter constitutes only a preliminary indication of our interest, and does not constitute any binding commitment with respect to the Acquisition. A binding commitment will result only from the execution of Definitive Agreements, and then will be on terms and conditions as provided in such documentation.
In closing, we would like to express our commitment to working together to bring this Acquisition to a successful and timely conclusion. Should you have any questions regarding this proposal, please do not hesitate to contact us. We look forward to hearing from you.
Sincerely yours,
/s/ John C.K. Sham
Global-Tech Advanced Innovations Inc.
Cecilia Au-Yeung, +(852) 2814-0601
investorrelations@global-webpage.com
http://global-webpage.newshq.businesswire.com
International Stem Cell Corp. (ISCO)
International Stem Cell Corp. (ISCO) specializes in the therapeutic applications of human stem cells and the development and commercialization of cell-based biomedical products. The company was the first to develop and perfect a new class of human stem cells called parthenogenetic stem cells, created from unfertilized human eggs. ISCO has a strong patent portfolio offering clean intellectual property and freedom to operate. The company’s stem cells present superior immune matching capabilities and can be used in millions of people regardless of sex or racial background, with minimal expectation of immune rejection after transplantation.
The company’s human stem cells have been shown to be as pluripotent as embryonic stem cells, however their creation does not involve the destruction of a viable human embryo, which effectively sidesteps the controversy and ethical dilemmas associated with the use of human embryonic stem cells. In contrast to induced pluripotent stem cells, ISCO’s stem cells do not involve manipulation of cells’ genome thereby avoiding potential safety and regulatory obstacles in clinical applications.
The company’s scientists are currently focused on using its stem cells to treat severe unmet medical needs of the central nervous system (Parkinson’s disease), the liver and the eye, where cell therapy has been clinically proven but is limited due to the unavailability of safe human cells. Once the technology has been clinically validated there are an essentially unlimited number of potential applications. Because of their immune-matching ability a relatively small number of these stem cell lines could offer the potential of producing the first true stem cell bank as a means of serving populations of different immune types across the globe.
In addition to its therapeutic focus, ISCO also provides a growing revenue stream through two wholly owned subsidiaries. Lifeline Cell Technology specializes in producing primary human cells and growth media for biological research, and Lifeline Skin Care, the company manufactures and markets advanced anti-aging skincare products utilizing the company’s expertise in stem cell biology.
(ADMA) Announces Submission of RI-002 BLA to FDA
Submission Reinforces Commitment to Commercialize Novel Therapies for Immune Compromised Patients
RAMSEY, N.J., July 31, 2015 — ADMA Biologics, Inc. (Nasdaq:ADMA), a late-stage biopharmaceutical company that develops, manufactures and intends to commercialize specialty plasma-based biologics for the primary immunodeficiency (PI) population and the treatment and prevention of certain infectious diseases, announced that it has submitted its Biologics License Application (BLA) to the United States Food and Drug Administration (FDA), seeking marketing authorization for RI-002.
RI-002 demonstrated positive results in a Phase III study in patients with PI, meeting its primary endpoint of no serious bacterial infections (SBI). These results, included in the submission, more than meet the requirement specified by the FDA guidance of ≤ 1 SBI per patient-year.
“The BLA submission for RI-002 is a significant milestone for our growing company,” stated Adam Grossman, President and CEO of ADMA Biologics. “This submission, combined with our recent announcement of obtaining patent protection for RI-002, places ADMA in a rare position as a company poised to transition from development to commercial stage. We believe that RI-002, if approved by the FDA, has great potential to provide meaningful clinical improvement for patients living with PI, as well as offers clinicians a much needed option for their immune compromised patients. Under PDUFA V, the BLA filing fee is $2.3 million. The FDA reviewed ADMA’s small business waiver application and it was approved.”
PI is a class of inherited genetic disorders that causes an individual to have a deficient or absent immune system due to either a lack of necessary antibodies or a failure of these antibodies to function properly, affecting approximately 250,000 people in the United States.
The FDA has a 60-day review period to determine whether ADMA’s BLA submission for RI-002 is complete and acceptable for filing.
About RI-002
ADMA’s lead product candidate, RI-002, is a specialty plasma-derived, polyclonal, intravenous immune globulin (IGIV) derived from human plasma containing naturally occurring polyclonal antibodies (e.g., Streptococcus pneumoniae, H. influenza type B, cytomegalovirus (CMV), measles, tetanus, etc.) as well as standardized, high levels of antibodies to respiratory syncytial virus (RSV). On June 30, 2015, ADMA announced that it had received a notice of allowance for a U.S. patent pertaining to RI-002 entitled “Compositions and Methods for the Treatment of Immunodeficiency.” ADMA is pursuing an indication for the use of this specialty IGIV product for treatment of patients diagnosed with primary immune deficiency disease (PIDD). Polyclonal antibodies are the primary active component of IGIV/immuneglobulin products. Polyclonal antibodies are proteins that are used by the body’s immune system to neutralize microbes, such as bacteria and viruses. Data review indicates that the polyclonal antibodies present in RI-002 support its ability to prevent infections in immune-compromised patients. ADMA’s analysis demonstrated that the Phase III trial met the primary endpoint with no serious bacterial infections (SBI) reported. These results more than meet the requirement specified by the FDA guidance of ≤ 1 SBI per patient-year. A BLA was submitted to the FDA on July 31, 2015.
About ADMA Biologics, Inc.
ADMA is a late-stage biopharmaceutical company that develops, manufactures and intends to market specialty plasma-based biologics for the treatment and prevention of PI and certain infectious diseases. ADMA’s mission is to develop and commercialize plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases. The target patient populations include immune-compromised individuals who suffer from an underlying immune deficiency disease, or who may be immune-compromised for medical reasons. ADMA’s lead product candidate, RI-002, for which a notice of allowance for a U.S. patent was granted pertaining to RI-002 entitled “Compositions and Methods for the Treatment of Immunodeficiency,” has completed a Phase III clinical trial in patients with primary immune deficiency disease (PIDD) and has met the primary endpoint. A BLA for RI-002 was submitted to the FDA on July 31, 2015. For more information, please visit the company’s website at www.admabiologics.com.
About Primary Immune Deficiency Disease (PI)
PIDD is a class of inherited genetic disorders that causes an individual to have a deficient or absent immune system due to either a lack of necessary antibodies or a failure of these antibodies to function properly. PIDD patients are more vulnerable to infections and more likely to suffer complications from these infections. According to the World Health Organization, there are over 150 different presentations of PIDD. As patients suffering from PIDD lack a properly functioning immune system, they typically receive monthly, outpatient infusions of IGIV therapy. Without this exogenous antibody immune support, these patients would be susceptible to a wide variety of infectious diseases. PIDD has an estimated prevalence of 1:1,200 in the United States, or approximately 250,000 people.
Forward-Looking Statements
This press release contains “forward-looking statements” pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate,” “project,” “intend,” “forecast,” “target,” “anticipate,” “plan,” “planning,” “expect,” “believe,” “will,” “will likely,” “is likely”, “should,” “could,” “would,” “may” or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements include, but are not limited to, statements concerning interpretations of final data, possible characteristics of RI-002, acceptability of RI-002 for any purpose by physicians patients or payers, concurrence by FDA with our conclusions and the satisfaction by us of its guidance, the acceptability by the FDA of the BLA, the likelihood and timing of FDA action with respect to any further filings by the Company, results of the clinical development, continuing demonstrations of safety, comparability of results of RI-002 to other comparably run IVIG trials, improvements in clinical outcomes, potential of RI-002 to provide meaningful clinical improvement for patients living with PI, as well as to offer clinicians with an option for their immune compromised patients, market data and incidence of infection, regulatory processes, potential clinical trial initiations, potential investigational new product applications, biologics license applications, expansion plans, the achievement of clinical and regulatory milestones, commercialization efforts of the Company’s product candidate(s) and trends relating to demand for source plasma. Forward-looking statements are subject to many risks and uncertainties that could cause our actual results and the timing of certain events to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, risks as to whether final and secondary data will be accepted as encouraging, positive or will otherwise lead to an effective or approved product, whether we will be able to demonstrate efficacy or gain necessary approvals to market and commercialize any product, whether the FDA will accept our data, accept our submission of the BLA, continue to recognize its previously reported guidance, grant a license, or approve RI-002 for marketing, whether we will meet any of our clinical or regulatory milestones, whether we will develop any new products or expand existing ones, whether we will receive FDA approval of our new facility, whether there may be changes in regional and worldwide supply and demand for source plasma, whether we will be able to attract sufficient donors and operate our new facility effectively or profitably, whether we can sell our plasma in the marketplace at prices that will lead to adequate amounts of revenue, whether we will be able to sustain the listing of our common stock on the NASDAQ Capital Market, whether we will meet any timing targets expressed by the Company, and other risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission, including our most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto. Therefore, current and prospective security holders are cautioned that there also can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent to the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation or warranty by ADMA or any other person that the objectives and plans of ADMA will be achieved in any specified time frame, if at all. Except to the extent required by applicable laws or rules, ADMA does not undertake any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements.
CONTACT: Brian Lenz
Vice President and Chief Financial Officer
201-478-5552 | www.admabiologics.com
(OCAT) to Host Conference Call and Webcast
Call Scheduled for Thursday, August 6, 2015 at 4:30 P.M.
Ocata Therapeutics, Inc. (NASDAQ: OCAT), a leader in the field of Regenerative Ophthalmology™, announced today that it will host a conference call on Thursday, August 6, 2015 at 4:30 p.m. EDT, during which it will provide a corporate update for the second quarter of 2015.
Interested parties may access the call live by dialing (888) 312-3054 (US) or (719) 325-2449 (international) and using conference ID 2737702.
A live audio webcast of the presentation will be available via the “Investor Relations” page of the Ocata website, www.ocata.com. A replay of the webcast will be archived on Ocata’s website for 90 days.
About Ocata Therapeutics, Inc.
Ocata Therapeutics, Inc. is a clinical stage biotechnology company focused on the development and commercialization of Regenerative Ophthalmology therapeutics. Ocata’s most advanced products are in clinical trials for the treatment of Stargardt’s macular degeneration, dry age-related macular degeneration, and myopic macular degeneration. Ocata’s intellectual property portfolio includes pluripotent stem cell platforms – hESC and induced pluripotent stem cell (iPSC) – and other cell therapy research programs. For more information, visit www.ocata.com.
About Age-related Macular Degeneration
Age-related macular degeneration is the leading cause of vision loss in people over the age of 50. Every year in the USA there are 1.8 million patients newly diagnosed with dry AMD which occurs when light-sensitive photoreceptor cells in the macula, located in the center of the retina, slowly break down, causing vision loss as a result. Photoreceptor breakdown is a consequence of loss or damage to the RPE layer. As the disease progresses, patients may have difficulty reading and recognizing faces. There is currently no proven medical therapy for dry AMD and the projected number of people worldwide with age-related macular degeneration in 2020 is 196 million, increasing to 288 million in 2040 underscoring the urgent need for new treatments.
About Stargardt’s Disease
Stargardt’s macular degeneration is a form of juvenile macular degeneration that affects vision in children and young adults between the ages of six and 20, with a prevalence of approximately one in 10,000 people in the United States. It is an orphan disease and loss of vision is an inevitable aspect of SMD, with more than half of the patients experiencing vision loss in the range of 20/200-20/400. Like dry AMD, it occurs as a result of damage to the RPE layer and there are no treatments currently approved to prevent or slow the vision loss associated with SMD.
Ocata Therapeutics, Inc.
Investors:
Westwicke Partners
John Woolford, 443-213-0506
john.woolford@westwicke.com
or
Press:
Russo Partners
David Schull, 858-717-2310
david.schull@russopartnersllc.com
(WWWW) Invites Small Businesses in the Greater Reno, NV Area to Seminar
The Web.com Small Business Summit to be Held in Conjunction With the PGA TOUR Barracuda Championship
JACKSONVILLE, Fla., July 31, 2015 — Web.com (Nasdaq:WWWW), a leading provider of Internet services and online marketing solutions for small businesses, will host a free Web.com Small Business Summit designed to help small business owners in the greater Reno, NV area learn how to successfully increase their business’ visibility and better market themselves online. The Web.com Small Business Summit will take place on Friday, August 7, 2015, from 9:00 a.m. – 12:00 p.m. at the Montreux Golf and Country Club in Reno, NV. Through Web.com’s agreement with the PGA TOUR and as umbrella sponsor of the Web.com Tour, Web.com developed the Small Business Summit as a benefit to small business owners in communities across the country.
“Entrepreneurs and small businesses continue to help the greater Reno area grow its job base and strengthen its overall economy,” said Chris Hoff, tournament director for the Barracuda Championship. “Small business owners have many competing demands on their time, foremost of which is running a business, and they don’t always have the knowledge to successfully market their business online. So with the help of our PGA TOUR partner, Web.com, we are pleased to help local small business owners continue to prosper and grow while also having the chance to enjoy the Barracuda Championship experience.”
Justin Leedy, director of Marketing at Web.com, will lead the discussion at the Web.com Small Business Summit on how small businesses can increase their online visibility and optimize their online marketing efforts. Danny Milrad, Product Marketing Director at Barracuda Networks will share best practices for securing and protecting applications and data while simplifying IT for small businesses.
Topics and content at the Web.com Small Business Summit focus on ways small business owners can achieve a successful Internet presence, including the elements of a great website, how to determine if their website is working for them, increasing traffic to their website and business, mobile marketing, and decoding how to efficiently market their business on Google, Facebook and Twitter.
“As part of our commitment to give back to the communities we serve, we are pleased to offer this event which is focused on helping small business owners improve their business model,” said Leedy. “Every day, Web.com helps millions of business owners address the challenges of building and maintaining an effective online presence that allows their businesses to grow. We expect a lively dialogue covering a range of key, timely topics that small business owners face when tackling this increasingly important digital opportunity.”
“It’s an exciting time in Reno-Tahoe with the second annual Barracuda Championship and the corresponding activities all week,” said Milrad. “The Web.com Small Business Summit is great addition to the line-up, offering customers an opportunity to learn more about better running their businesses and keeping their data safe online, all while participating in an impressive PGA TOUR event.”
Event Details:
- Where: Montreux Golf and Country Club, 18077 Bordeaux Drive, Reno, NV
- When: Friday, August 7, 2015, registration, refreshments and networking 9:00 a.m.; presentation will start promptly at 10:00 a.m. and will conclude by 12:00 p.m.
- Cost: Attendance is free, but advanced registration is requested at smallbusinesssummit.web.com
- Social media: Twitter: @webdotcom / Facebook: Web.com / Hashtag: #SmallBizSummit
- All attendees will receive a complimentary ticket to Barracuda Championship
For the schedule of all 2015 Web.com Small Business Summits or for more information about this Small Business Summit, go to the Web.com Small Business Summit website, or contact smallbusinesssummit@web.com, or call 800-862-8718.
Attention Editors/News Directors: Click here to view a brief video on what it’s like to attend a Web.com Small Business Summit event.
About Web.com
Web.com Group, Inc. (Nasdaq:WWWW) provides a full range of Internet services to small businesses to help them compete and succeed online. Web.com is owner of several global domain registrars and further meets the needs of small businesses anywhere along their lifecycle with affordable, subscription-based solutions including website design and management, search engine optimization, online marketing campaigns, local sales leads, social media, mobile products, eCommerce solutions and call center services. To get more information, visit www.web.com; follow Web.com on Twitter @webdotcom or on Facebook at Facebook: Web.com. For additional online marketing resources and small business networking, please visit Web.com’s Small Business Summit.
About PGA TOUR
The PGA TOUR is the world’s premier membership organization for touring professional golfers, co-sanctioning more than 130 tournaments on the PGA TOUR, Champions Tour, Web.com Tour, PGA TOUR Latinoamérica, PGA TOUR Canada and PGA TOUR China.
The PGA TOUR’s mission is to entertain and inspire its fans, deliver substantial value to its partners, create outlets for volunteers to give back, generate significant charitable and economic impact in the communities in which it plays, and provide financial opportunities for TOUR players.
Worldwide, PGA TOUR tournaments are broadcast to more than 1 billion households in 225 countries and territories in 32 languages. Virtually all tournaments are organized as non-profit organizations in order to maximize charitable giving. In 2013, tournaments across all Tours generated more than $134 million for local and national charitable organizations and in early 2014 the TOUR’s all-time charitable contributions surpassed $2 billion.
The PGA TOUR’s web site is PGATOUR.COM, the No. 1 site in golf, and the organization is headquartered in Ponte Vedra Beach, Fla.
Note to Editors: Web.com is a registered trademark of Web.com Group, Inc.
CONTACT: Media Contact:
Ashley Clontz
Golin for Web.com
972-701-6974
aclontz@golin.com
(PLUG) Completes Acquisition of HyPulsion Joint Venture in Europe
Plug Power Now Poised to Convert $20 Billion European Electric Lift Truck Market to Hydrogen Fuel Cells
LATHAM, N.Y., July 31, 2015 — Plug Power Inc. (NASDAQ:PLUG), a leader in providing clean, reliable energy solutions, announced it has completed the previously announced acquisition of HyPulsion, the European joint venture created by Plug Power and Axane, S.A., a subsidiary of Air Liquide S.A. in 2012. Effective immediately, Plug Power will assume all responsibilities for the development, engineering, sales and marketing efforts in Europe for its GenFuel hydrogen and GenDrive fuel cell product lines and corresponding GenCare services.
Plug Power will offer its CE-certified GenDrive products to European lift truck customers in the $20 billion European electric lift truck market. For the short-term, Plug Power will continue to develop, engineer, and manufacture all products in the United States with a sales and service force in Europe.
Air Liquide will remain a strategic hydrogen production partner to Plug Power, acting as a hydrogen supplier to Plug Power’s material handling customers. Additionally, Air Liquide will continue to represent a seat on Plug Power’s board of directors, a position held since 2012.
“Plug Power is ready to move in Europe,” said Andy Marsh, CEO of Plug Power. “Our success with customers like BMW and Volkswagen has helped open doors in Europe, a $20 billion market where customers have a strong mandate for cleaner, more productive distribution centers and where Plug Power has an impressive head start on our competitors.”
About Plug Power Inc.
The powerhouse in hydrogen fuel cell technology, Plug Power is revolutionizing the industry with cost-effective solutions that increase productivity, lower operating costs and reduce carbon footprint. Its signature solution, GenKey, provides an all-inclusive package for customers, incorporating GenFuel hydrogen and fueling infrastructure, GenCare aftermarket service and either GenDrive or ReliOn fuel cell systems. GenDrive, a lead-acid battery replacement, is used in electric lift trucks in high-throughput material handling applications. With more than 7,000 GenDrive units deployed with material handling customers, GenDrive has been proven reliable with over 100 million hours of runtime. Plug Power manufactures tomorrow’s incumbent power solutions today, so customers can POWERAhead. Additional information about the Plug Power brands is available at www.plugpower.com.
Plug Power Inc. Safe Harbor Statement
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“PLUG”), including but not limited to statements about expansion into and growth in the European hydrogen and fuel cell market. You are cautioned that such statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will have been achieved. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. In particular, the risks and uncertainties include, among other things, the risk that we continue to incur losses and might never achieve or maintain profitability; the risk that we will need to raise additional capital to fund our operations and such capital may not be available to us; the risk that our lack of extensive experience in manufacturing and marketing products may impact our ability to manufacture and market products on a profitable and large-scale commercial basis; the risk that unit orders will not ship, be installed and/or converted to revenue, in whole or in part; the risk that pending orders may not convert to purchase orders, in whole or in part; the risk that a loss of one or more of our major customers could result in a material adverse effect on our financial condition; the risk that a sale of a significant number of shares of stock could depress the market price of our common stock; the risk that negative publicity related to our business or stock could result in a negative impact on our stock value and profitability; the risk of potential losses related to any product liability claims or contract disputes; the risk of loss related to an inability to maintain an effective system of internal controls or key personnel; the risks related to use of flammable fuels in our products; the cost and timing of developing, marketing and selling our products and our ability to raise the necessary capital to fund such costs; the ability to achieve the forecasted gross margin on the sale of our products; the risk that our actual net cash used for operating expenses may exceed the projected net cash for operating expenses; the cost and availability of fuel and fueling infrastructures for our products; market acceptance of our products, including GenDrive, ReliOn and GenKey systems; the volatility of our stock price; our ability to establish and maintain relationships with third parties with respect to product development, manufacturing, distribution and servicing and the supply of key product components; the cost and availability of components and parts for our products; our ability to develop commercially viable products; our ability to reduce product and manufacturing costs; our ability to successfully expand our product lines; our ability to successfully expand internationally; our ability to improve system reliability for our GenDrive, ReliOn and GenKey systems; competitive factors, such as price competition and competition from other traditional and alternative energy companies; our ability to protect our intellectual property; the cost of complying with current and future federal, state and international governmental regulations; risks associated with potential future acquisitions; and other risks and uncertainties referenced in our public filings with the Securities and Exchange Commission. For additional disclosure regarding these and other risks faced by PLUG, see disclosures contained in PLUG’s public filings with the Securities and Exchange Commission (the “SEC”) including, the “Risk Factors” section of PLUG’s Annual Report on Form 10-K for the year ended December 31, 2014. You should consider these factors in evaluating the forward-looking statements included in this presentation and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof, and PLUG undertakes no obligation to update such statements as a result of new information.
CONTACT: Plug Power Media Contact
Teal Vivacqua
518.738.0269
media@plugpower.com
(SMTP) Rick Carlson Appointed President
SMTP Taps Carlson to Take on Broader Role in Organization
NASHUA, N.H., July 31, 2015 — SMTP, Inc. (NASDAQ:SMTP), a global provider of cloud-based marketing technologies, announced today that Rick Carlson, President of SharpSpring, will be appointed President of SMTP, Inc. effective August 1, 2015, reflecting a broader role across the organization. In this new role, Rick will continue to drive SharpSpring’s growth but will also have responsibilities over marketing, product and operations across the entire company.
“Rick is a proven leader who has the experience and track record of delivering results,” said Jon Strimling, SMTP’s CEO. “His product vision and leadership drove SharpSpring to rapidly become a leading player in the fast growing marketing automation technology space. We are confident that Rick will help lead SMTP to new levels in the years to come.”
Carlson joined SMTP in the August 2014 acquisition of SharpSpring, and has quickly gained the respect and admiration of the company’s team worldwide. His results-oriented approach and focus on accountability have been instrumental in SharpSpring’s rapid adoption as a marketing automation provider.
“I am honored to serve as the President of SMTP,” said Rick Carlson. “Since joining the company last year, I have had the pleasure of working with a fantastic team of managers and leaders. I am excited to expand my work with Jon, the technology and management teams, and the great people across our organization. Together, we intend to continue to transform SMTP into a market leader, drive growth and create value for shareholders, across all of our products and services.”
About SMTP, Inc.
SMTP, Inc. (NASDAQ:SMTP) is a global provider of cloud-based marketing solutions ranging from sophisticated marketing automation (via subsidiary SharpSpring) to comprehensive email and mobile marketing (via subsidiary GraphicMail) and scalable, cost-effective email deliverability services. The company’s product family is hallmarked by its flexible architecture, ease-of-use and cost-effectiveness. SMTP augments its technology with high-quality, multilingual customer service and support. SMTP, Inc. is headquartered in Nashua NH, and can be found on the web at www.smtp.com. SharpSpring, based in Gainesville, FL, can be found on the web at www.SharpSpring.com. GraphicMail, based in Geneva, Switzerland, can be found on the web at www.GraphicMail.com.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continues,” “estimates,” “projects,” “intends,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us in Item 1.A “Risk Factors” in our most recent Form 10-K and other risks to which our Company is subject, and various other factors beyond the Company’s control.
CONTACT: Investor Relations Contact:
Edward Lawton
Chief Financial Officer
(617) 500-0122
ir@smtp.com
(GUID) to Highlight Inside-Out Security Framework at Black Hat USA
Researchers Will Demonstrate How New Approach Leads to RAT Malware Capture
Guidance Software, Inc. (NASDAQ: GUID), makers of EnCase®, the gold standard for digital investigations and endpoint data security, today announced the publication of its vendor-agnostic Inside-Out Security Framework and will discuss it at Black Hat USA 2015. Researchers will demonstrate how taking an Inside-Out approach to information security enables active defense to combat today’s advanced threats, such as the proliferation of remote access terminal (RAT) malware types like those seen in recent commercial and government data breaches.
“Security teams are grappling with the complex challenge of spotting custom or zero-day malware variants that have been instrumental in some of the most widely publicized cyber attacks,” said Scott Crawford, Research Director of the Information Security practice at 451 Research. “The Inside-Out Security Framework offers an actionable example of a process that illuminates the critical blind spots of traditional, perimeter-focused approaches.”
The Inside-Out Security Framework breaks the security planning process into four phases:
- Know Yourself: Create a security plan, build a baseline, identify your blind spots, and close the gaps.
- Detect: Detect known threats, then detect unknown threats.
- Respond: Automate response, enable remote investigation, analyze malware, and determine scope.
- Recover: Remediate, verify and update, enrich data, and repeat.
“Knowing yourself” involves gaining visibility to all the places where sensitive data is stored on network endpoints. Security teams that do this are better equipped to respond quickly when anomalous activity is taking place there. For example, the ability to spot an unauthorized or unusual connection to a remote IP address can serve as a trigger for a team to search for unusual activity and indicators of compromise on the endpoint in question, including the forensic artifacts that RAT malware cannot avoid leaving behind.
“Our vision is to help companies and government agencies spot unknown threats earlier in order to prevent data breaches. Inside-out security approaches put the focus on knowing your endpoints and protecting the information assets that reside there,” said Roger Angarita, Director of Product Management at Guidance Software. “Our research confirms the message in headline news: perimeter-focused security approaches aren’t keeping determined hackers out of our networks. It’s time for security teams to take an inside-out security approach using deep and rapid endpoint intelligence from inside the firewall.”
Guidance Software will be presenting the Inside-Out Security Framework and a demonstration of RAT malware capture at Black Hat USA 2015. For more information on the Inside-Out Security Framework or to see a demonstration of the RAT-hunting process, visit booth #641 in the Black Hat Business Hall on August 5-6, 2015.
About Guidance Software
Guidance Software, Inc. (NASDAQ: GUID), the maker of the EnCase technology platform, is the gold standard in digital investigations and endpoint data security, helping organizations around the world lower business risk by providing the most complete visibility to data everywhere it’s stored—on the endpoint, across servers, and into the cloud. Guidance Software solutions are built for integration within a rich technology ecosystem, including Dropbox, HP, Cisco, Box, and Blue Coat Systems, and widely adopted within multiple industries where compliance is critical, such as financial, insurance, defense, energy, pharmaceutical, manufacturing, and retail. Recognized as the market leader in endpoint detection and response by Gartner, the company’s EnCase platform has been deployed on an estimated 25 million endpoints and is used with confidence by more than 70 of the Fortune 100 and hundreds of government agencies around the world.
For more information about Guidance Software, please visit www.guidancesoftware.com, “Like” our Facebook page, follow us on Twitter, or follow our LinkedIn page.
EnCase®, EnScript®, FastBloc®, EnCE®, EnCEP®, Guidance Software™, LinkedReview™, EnPoint™ and Tableau™ are registered trademarks or trademarks owned by Guidance Software in the United States and other jurisdictions and may not be used without prior written permission. All other trademarks and copyrights referenced in this press release are the property of their respective owners.
GUID-F
Guidance Software
Cynthia Siemens, 626-463-7813
newsroom@guidancesoftware.com
or
Ross Levanto/Davida Dinerman
781-684-0770
guidance@mslgroup.com
(MGI) Announces Leadership Succession Plan
W. Alexander Holmes to Become Chief Executive Officer January 1, 2016 Pamela H. Patsley to Serve as Executive Chairman Through 2017
DALLAS, July 31, 2015 — MoneyGram (NASDAQ: MGI), a leading global money transfer and payment services company, announced today that its Board of Directors has chosen W. Alexander Holmes to serve as MoneyGram’s next chief executive officer, beginning on January 1, 2016. He will succeed MoneyGram chairman and CEO Pamela H. Patsley, who on the same date will assume the role of executive chairman for a minimum of two years. Holmes, currently the Company’s executive vice president, chief financial officer and chief operating officer, will join the MoneyGram Board by the start of his tenure as CEO.
“We are pleased to be moving forward with a succession plan that provides for an orderly leadership transition and builds on the strong, collaborative partnership that Pam Patsley and Alex Holmes have developed during the last six years,” said J. Coley Clark, chair of the human resources and nominating committee of the MoneyGram Board. “Alex has made many valuable contributions to our business and his proven leadership skills across a range of senior executive roles, as well as his extensive knowledge of the Company’s financial and business operations, make him highly qualified to serve as our next CEO. We are grateful to Pam for her service and accomplishments as CEO and are really pleased that she will be assuming the responsibilities of executive chairman through the end of 2017, ensuring a seamless leadership transition.”
“Alex has been a tremendous asset to MoneyGram since he first joined us in 2009, and I am excited that he will be the next leader to drive the Company’s growth and profitability while increasing our market share around the world,” said Patsley. “Alex’s exceptional record of success across multiple areas of our company, along with the central role he played in our recent transformation efforts, gives me great confidence in his ability to lead MoneyGram. That he succeeds to CEO from within the Company speaks to the incredibly talented team we have developed at MoneyGram. I am looking forward to continuing to work closely with Alex and our colleagues in the years ahead.”
In her role as executive chairman, Patsley will work closely with Holmes to oversee MoneyGram’s strategic planning efforts and help represent the Company in its interactions with customers, the financial community, regulators and government officials. She will also continue to lead the Board’s governance functions, take an active role in the MoneyGram Foundation, and speak out on issues affecting the money transfer industry.
“During Pam’s tenure as CEO, MoneyGram has worked diligently to address a range of opportunities and challenges facing the evolving money transfer industry,” said Seth W. Lawry, managing director at Thomas H. Lee Partners and a member of MoneyGram’s Board since 2008. “Among other things, Pam has played an instrumental role in growing MoneyGram’s agent network and customer base, allowing for the secure and efficient transfer of billions of dollars around the world. In addition, she has helped steer the Company through the crisis in the financial sector, overseen the resolution of significant legacy issues, and implemented the Company’s innovative self-service approach to technology-enabled money transfer services. Pam has also assembled a world-class management team and served as a terrific mentor to Alex, positioning him to become her natural successor.”
About W. Alexander Holmes
Alex Holmes has served as executive vice president, CFO and COO of MoneyGram since February 2014 and executive vice president and CFO since March 2012. He joined MoneyGram in 2009 as senior vice president for corporate strategy and investor relations. Holmes previously spent nine years at First Data Corporation and Western Union and has extensive experience in global financial services with in-depth expertise in the money transfer and payments industries. While at First Data, Holmes held a variety of positions including chief of staff to the CEO, head of investor relations and senior vice president of global sourcing & strategic initiatives. He is a graduate of the University of Colorado, where he earned a bachelor’s of science in business administration and accounting and a master’s of science in information technology.
About Pamela H. Patsley
Pam Patsley joined MoneyGram in January 2009 as Executive Chairman of the Company. She assumed the additional role of CEO in September 2009. Patsley is an experienced executive in the financial services industry. After almost six years at KPMG, she joined First USA, Inc. as CFO and later became president and CEO of Paymentech, Inc. until it was acquired by First Data Corporation. She then led First Data’s global expansion, serving as president of First Data International. Patsley currently sits on the boards of two other public companies: Texas Instruments, Inc. and Dr. Pepper Snapple Group, Inc. From 1996 to 2009, she served on the board of Molson Coors Brewing Company and its predecessor.
About MoneyGram Inc.
MoneyGram is a global provider of innovative money transfer services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.
(EVAR) Acquires Endovascular Stent Graft Developer Altura Medical
Acquisition Expands Lombard Product Portfolio with Simple, Safe and Efficient Ultra-Low Profile Endovascular Stent Graft
CE Mark in Place – European Launch Scheduled for January
IRVINE, Calif., July 30, 2015 — Lombard Medical, Inc. (NASDAQ:EVAR), a medical device company focused on endovascular aneurysm repair (EVAR) of abdominal aortic aneurysms (AAAs), today announced the acquisition of Silicon Valley-based Altura Medical, a privately-held, venture-backed company that has developed an innovative ultra-low profile endovascular stent graft technology that offers a simple and predictable solution for the treatment of standard AAA anatomies.
The terms of the transaction include the issuance of $15 million of Lombard common stock at $4 per share (3,750,000 shares of Lombard common stock subject to certain lock up conditions), the assumption of $5.5 million in bank debt and $2.5 million in certain liabilities and transaction-related costs.
In addition, up to $27.5 million may be paid based on the achievement of certain commercial and regulatory milestones anticipated over the next five years. Under the terms of the agreement, Lombard has the option to pay the additional consideration in either cash or stock.
The Altura endograft system received CE Mark in 2015 and Lombard plans to launch the device in Europe in January 2016 with a broader international roll out later the same year. In the U.S., Lombard intends to file for an IDE (Investigational Device Exemption) from the U.S. FDA in early 2016 with the intent to begin recruitment for a U.S. clinical study later in 2016.
Lombard CEO Simon Hubbert said, “The acquisition of Altura and the launch of its new AAA stent graft will provide a near-term and substantial increase in revenues. In fact, we believe this innovative technology could account for up to 20 percent of our 2016 total revenue. The combination of Altura’s technology with our flagship Aorfix™ platform creates a truly patient driven platform that we believe will allow us to capture share from our competitors. The Altura device offers a simple, safe and efficient treatment option for standard AAA anatomy, while Aorfix offers the only on-label solution for patients with Aortic neck angulation up to 90 degrees.”
“The Altura device offers a new ultra-low profile stent graft system without compromising the robustness and durability of the wire and graft fabric,” said Professor Dierk Scheinert, M.D., Chairman of the Division of Interventional Angiology, University Hospital Leipzig, Germany. Noting that, “The added benefits of this smart system are the ability to reposition during deployment and place each graft accurately to each renal artery enabling physicians to utilize all the available aortic neck. It also removes the need for cannulation and therefore provides a simple, intuitive, safe and consistent deployment system with predictable and shorter procedure times.”
“Many patients who present for AAA repair can be treated quickly and efficiently with minimal hospital stay and recovery times,” said Stuart A. Harlin, M.D., board certified vascular surgeon, Coastal Vascular & Interventional, Pensacola, FL. “The introduction of an easy-to-deploy AAA stent graft that offers enhanced safety and accuracy on an ultra-low profile delivery system will allow physicians to treat a large percentage of AAA patients more efficiently in the future.”
Conference Call
Lombard’s management will discuss the acquisition and answer questions during a conference call, which will include a slide presentation, beginning at 5:00 p.m. Eastern Time today, Thursday, July 30, 2015. To join the call, participants may dial 1-855-327-6837 (domestic), 0808-101-2791 (UK toll-free) or 1-631-982-4565 (international). To access the slide presentation and/or listen to a live webcast of the conference call, visit the Events and Presentations page under the Investors tab at www.lombardmedical.com. Phone participants who are accessing the slides from the webcast link should, after completing the registration, click the “Listen by Phone” black box under the smaller screen on the left hand side to turn off the webcast audio and sync the slides to the phone audio.
An archived replay of the webcast will be available shortly following the completion of the call on the Events and Presentations page under the Investors tab at www.lombardmedical.com.
About Altura Medical, Inc.
Founded in 2008 and based in Menlo Park, CA, Altura Medical has developed a next generation endograft technology to treat AAA and other related conditions. The development of Altura’s highly differentiated technology was led by experienced technologists and supported by a prestigious syndicate of venture capital investors, including SV Life Sciences, New Leaf Ventures and Advanced Technology Ventures. Andrew Cragg, MD, a prolific physician inventor, entrepreneur and a principal at Intersect Partners, initially conceived the Altura AAA endograft technology.
About Lombard Medical, Inc.
Lombard Medical, Inc. is an Irvine, CA-based medical device company focused on device solutions for the $1.6 billion per year abdominal aortic aneurysm repair market. The Company’s lead product, Aorfix™, is an endovascular stent graft which has been specifically designed to solve the problems that exist in treating complex tortuous anatomies, which are often present in advanced AAA disease. Aorfix has been used to treat more than 4,000 patients worldwide. The Company’s lead product, Aorfix™, is the only endovascular stent graft cleared by the U.S. Food and Drug Administration (FDA) for the treatment of AAAs with angulation at the neck of the aneurysm of up to 90 degrees providing physicians in the U.S. with the only ‘on-label’ endovascular treatment option for patients with this complex AAA anatomy. All other approved grafts are only cleared by the FDA for the treatment of neck angulation up to 60 degrees. For more information, please visit www.lombardmedical.com.
Forward-Looking Statements
This announcement contains forward-looking statements that reflect the Company’s current expectations regarding future events. These forward-looking statements generally can be identified by the use of words or phrases such as “believe,” “expect,” “future,” “anticipate,” “look forward to,” “intend,” “plan,” “foresee,” “may,” “should,” “will,” “estimates,” “outlook,” “potential,” “optimistic,” “confidence,” “continue,” “evolve,” “expand,” “growth” or words and phrases of similar meaning. Statements that describe objectives, plans or goals also are forward-looking statements. Forward-looking statements are subject to risks, management assumptions and uncertainties. Actual results could differ materially from those projected herein and depend on a number of factors, including the success of the Company’s research and development and commercialization strategies, the uncertainties related to the regulatory process and the acceptance of the Company’s products by hospitals and other medical professionals, the uncertainty of estimated revenues and profits, the uncertainty of current domestic and international economic conditions that could adversely affect the level of demand for the Company’s products and increased volatility in foreign exchange rates, the inability to raise additional funds, and the risks, uncertainties and other factors described under the heading “Risk Factors” in the Company’s Form 20-F filed with the Securities and Exchange Commission dated April 29, 2015. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The forward-looking statements included herein are made only as of the date of this report and the Company undertakes no obligation to update these statements in the future.
For further information:
| Lombard Medical, Inc. Simon Hubbert, Chief Executive Officer William J. Kullback, Chief Financial Officer |
Tel: +1 949 379 3750 / +44 (0)1235 750 800 Tel: +1 949 748 6764 |
| Pure Communications Matthew H Clawson Susan Heins (Media) |
Tel: +1 949 370 8500 / matt@purecommunicationsinc.com Tel: +1 864 286 9597 / sjheins@purecommunicationsinc.com |
| FTI Consulting (UK) Simon Conway, Victoria Foster Mitchell |
Tel: +44 (0)20 3727 1000 |
(MXWL) Selected as Exclusive CE Storage Supplier by China’s Largest Rail Company
China Qingdao Sifang Rolling Stock Research Institute and Maxwell Sign Multi-year Strategic Agreement
SAN DIEGO, July 30, 2015 — Maxwell Technologies, Inc. (Nasdaq: MXWL), a leading developer and manufacturer of ultracapacitor-based energy storage solutions, announced today that it has signed a long-term strategic partnership agreement with China Railway Rolling Stock Corporation (CRRC-SRI, formerly CNR-SRI), subsidiary of CRRC, one of the largest rail vehicle manufacturers in the world. The agreement will examine multi-year collaboration activities between the two companies to jointly develop new application-specific, next-generation capacitive energy storage solutions that meet the unique application requirements of CRRC-SRI’s customers in the Chinese rail market.
Capacitive energy storage technology offers high-power density performance under extreme temperatures with long operational lifetimes and is ideally suited for rail transportation applications, particularly onboard commuter rolling stock modalities such as subway and light rail. CRRC-SRI selected Maxwell based on its global leadership in developing and delivering high-quality ultracapacitor solutions proven in global transportation applications such as start-stop autos and hybrid buses, which require rapid braking, energy recuperation and power delivery. Maxwell will work closely with CRRC-SRI to develop solutions uniquely designed to address the growing Chinese rail market.
“The current expansion of rail transportation infrastructure in China will continue well into the next decade and has higher requirements on energy saving and environment protection now and in the future, particularly for onboard rail vehicles,” said Liu Baoming, chairman of CRRC-SRI. “We firmly believe capacitive energy storage technology is essential to providing solutions that meet those energy-saving and environment-protection requirements. We highly value Maxwell Technologies’ expertise in capacitive energy storage and trust its technology leadership to help us keep pace with the rate of innovation required now and into the next decade.”
“Rail transportation applications are an excellent match for ultracapacitors, and the rail market will be a significant opportunity for Maxwell,” said Dr. Franz Fink, Maxwell’s president and chief executive officer. “In China, advanced energy storage and power delivery solutions will play an increasingly important role in improving efficiencies and reducing carbon emissions. Our partnership with CRRC-SRI represents an excellent opportunity for us to generate meaningful revenue in a three-to-five-year horizon through the co-development of application-specific technology and products for the expanding China rail market.”
Additional Maxwell Technologies information:
- Maxwell Technologies on Twitter: https://twitter.com/Maxwell_Tech
- Maxwell Technologies on Facebook: http://on.fb.me/10e2nPA
- Maxwell Technologies on LinkedIn: http://linkd.in/Z4737Y
- Maxwell Technologies on Google+: https://plus.google.com/+MaxwellTech/
- More information about ultracapacitors: http://www.maxwell.com/ultracapacitors
About Maxwell Technologies: Maxwell Technologies is a global leader in the development and manufacture of innovative, cost-effective energy storage and power delivery solutions. Our ultracapacitor products provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. Our high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. Our radiation-mitigated microelectronic products include power modules, memory modules and single board computers that incorporate powerful commercial silicon for superior performance and high reliability in aerospace applications. For more information, please visit our website: www.maxwell.com.
Maxwell Technologies Contacts:
Media: Sylvie Tse, Metis Communications: +1 (617) 236-0500; maxwell@metiscomm.com
Investor: Michael Sund: +1 (858) 503-3233; msund@maxwell.com
(HTCH) Introduces New Gemini SMA OIS Actuator
New Design Can Enable the World’s Slimmest OIS Smartphone Cameras
HUTCHINSON, Minn., July 30, 2015 — Hutchinson Technology Incorporated (NASDAQ:HTCH) today announced that it expects to begin shipping prototypes of a new Shape Memory Alloy Optical Image Stabilization (SMA OIS) actuator to tier 1 camera module manufacturers in early August. The new Gemini product was designed in response to customer requests for reduced OIS camera thickness. Gemini reduces SMA OIS actuator thickness by more than 70%, to enable the world’s slimmest OIS smartphone cameras.
Gemini also improves handshake suppression, resulting in clearer photos in low light conditions and more stabilized videos. The unique properties of shape memory alloy wire enable a more compact, higher force, and a more rugged actuator than industry standard voice coil motor designs.
The Gemini design significantly lowers the company’s capital and manufacturing costs by reducing the number of components in the product and better leveraging the company’s existing production equipment. “Our proven automated processes, quality control systems, and high volume precision manufacturing capabilities position us well to support large smartphone programs,” said Rick Penn, Hutchinson Technology’s president and chief executive officer.
Building on the value users place on “selfie” photos, Hutchinson Technology is also developing SMA OIS designs to improve front-facing camera image quality. With superior miniaturization capabilities, SMA OIS is an excellent candidate for spatially constrained front-facing cameras. Unlike voice coil motor actuators, SMA OIS actuators do not use magnets. This eliminates magnetic interference that could occur due to the camera’s close proximity to the phone’s antenna.
SMA OIS products offer a unique blend of smallest size, excellent performance, and industry leading shock reliability. Gemini is expected to be ready for volume production in CQ4 2015. Front-facing SMA OIS samples are also expected to be available in CQ4.
More information about Gemini OIS actuators can be found on Hutchinson Technology’s website at http://www.htchmfg.com/gemini-sma-ois.html.
About Hutchinson Technology
Hutchinson Technology is a global supplier of critical precision component technologies. As a key supplier of suspension assemblies for disk drives, we help customers improve overall disk drive performance and meet the demands of an ever-expanding digital universe. Through our new business development initiatives, we focus on leveraging our unique precision manufacturing capabilities in new markets to improve product performance, reduce size, lower cost, and reduce time to market.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements regarding development, market adoption and production of OIS actuators and product performance. The company does not undertake to update its forward-looking statements. These statements involve risks and uncertainties. The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of changes in market demand and market consumption of smartphones, changes in demand for our products, market acceptance of new products, the company’s ability to produce SMA OIS actuators at levels of precision, quality, volume and cost its customers require and other factors described from time to time in the company’s reports filed with the Securities and Exchange Commission.
CONTACT: MARKETING CONTACT:
Keith Johnson
Hutchinson Technology Inc.
320-587-1203
INVESTOR CONTACT:
Chuck Ives
Hutchinson Technology Inc.
320-587-1605
(GEVO) First Pump Sales of Isobutanol-Blended Gasoline at Express Lubes in Texas
Sales Focused at Owners of Boats, Outdoor Equipment and Off-Road Vehicles
ENGLEWOOD, Colo., July 30, 2015 — Gevo, Inc. (NASDAQ:GEVO), has announced that Express Lube of Fredericksburg, Texas, is the first U.S. service station to sell gasoline blended with Gevo’s renewable isobutanol at the pump. This is anticipated to be the first of many retail locations to offer Gevo’s product as the company rolls out its isobutanol to the marina, outdoor equipment and off-road gasoline markets.
According to Express Lube owner Adam Sheffield, he decided to sell isobutanol-blended gasoline because its moisture resistance and capacity to reduce engine corrosion are ideal for equipment and vehicles that are used intermittently. Sheffield learned about Gevo’s renewable isobutanol from Kino Oil, a local distributor that sells the product in drums. Kino began to offer the fuel made with isobutanol after finding that it is ethanol-free and is excellent for use with marine and off-road engines.
As a result of this improved performance provided by isobutanol-blended gasoline, Express Lube has been selling its fuel at over a 50 percent premium in comparison to local E10 gasoline blends (10 percent ethanol).
Gevo’s isobutanol is blended with gasoline to help meet renewable fuel and clean air standards, and after several years of work and testing, has successfully obtained registration with the U.S. EPA as a fuel additive. Recently, the National Marine Manufacturers Association officially endorsed isobutanol as a drop-in fuel for marine and recreational boat engines. Gevo believes that retail sales of isobutanol-blended gasoline by Express Lube will help establish the value proposition for other fuel retailers.
“Isobutanol is great for weed eaters, mowers and farm or ranch equipment that sits unused for long periods of time – because it does not cause carburetors to gum up the way ethanol does,” says Sheffield. “I tried it myself after discovering that the ethanol-blended gasoline sitting in my riding mower over the winter had ruined the carburetor. It cost me $700 to replace. That’s when I switched to isobutanol.”
“We welcome Express Lube as the very first retail service station to sell gasoline made with our isobutanol. It’s only a matter of time before other distributors and gas stations across the U.S. and in other parts of the world discover the benefits of isobutanol, and begin to offer our product commercially as well,” said Dr. Patrick Gruber, Chief Executive Officer of Gevo.
About Gevo
Gevo is a leading renewable technology, chemical products, and next generation biofuels company. Gevo has developed proprietary technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, as well as related products from renewable feedstocks. Gevo’s strategy is to commercialize bio-based alternatives to petroleum-based products to allow for the optimization of fermentation facilities’ assets, with the ultimate goal of maximizing cash flows from the operation of those assets. Gevo produces isobutanol, ethanol and high-value animal feed at its fermentation plant in Luverne, MN. Gevo has also developed technology to produce hydrocarbon products from renewable alcohols. Gevo currently operates a biorefinery in Silsbee, TX, in collaboration with South Hampton Resources Inc., to produce renewable jet fuel, octane, and ingredients for plastics like polyester. Gevo has a marquee list of partners including The Coca-Cola Company, Toray Industries Inc. and Total SA, among others. Gevo is committed to a sustainable bio-based economy that meets society’s needs for plentiful food and clean air and water.
About Express Lube
The Express Lube service station in Fredericksburg, Texas, near Hill Country, is dedicated to providing the highest quality oil and fuel products available. This includes products for cars, trucks, ATVs, lawn care, farm & ranch equipment, chain saws, gas generators, marine and recreational boats, and racing vehicles.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of 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 Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2014, as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Gevo. Certain statements in this press release are based on publicly available published studies conducted by the National Marine Manufacturers Association, marine engine manufacturers, the United States Coast Guard, national laboratories, the United States Department of Energy and others.
CONTACT: Media Contact
Karen Freedman / David Rodewald
The David James Agency, LLC
+1 805-494-9508
gevo@davidjamesagency.com
Investor Contact
Mike Willis
Gevo, Inc.
+1 720-267-8636
mwillis@gevo.com
(LPSN) to Present at Oppenheimer 18th Annual Conference
NEW YORK, July 30, 2015 — LivePerson, Inc. (Nasdaq: LPSN), a leading provider of digital engagement solutions, today announced that the Company will be presenting at the Oppenheimer 18th Annual Technology, Internet & Communications Conference in Boston at 11:45 a.m. ET on Tuesday, August 11, 2015. A copy of the presentation will be accessible through the Investors section of the company’s web site, www.liveperson.com.
About LivePerson, Inc.
LivePerson, Inc. (Nasdaq: LPSN) offers a cloud-based platform that enables businesses to proactively connect in real-time with their customers via chat, voice, and content delivery at the right time, through the right channel, including websites, social media, and mobile devices. This “intelligent engagement” is driven by real-time behavioral analytics, producing connections based on a true understanding of business objectives and customer needs. For more information, please visit www.liveperson.com. To view other global press releases about LivePerson, please visit pr.liveperson.com.
Investor Relations Contact
Matthew Kempler
mkempler@liveperson.com
212-609-4214
(QUIK) Announces the EOS Platform, the World’s Most Advanced Sensor Processing SoC
SUNNYVALE, CA–(Jul 30, 2015) – QuickLogic Corporation (NASDAQ: QUIK)
- Unique multi-core sensor processing System-On-a-Chip (SoC) provides a tiered architecture with world class computational capability at industry-leading power levels
- Delivers 80% more compute capability than traditional ARM M4F based microcontroller sensor hub solutions at a fraction of the power consumption
- Dedicated voice processing architecture enables always-on voice applications at less than 350 microAmps.
QuickLogic Corporation (NASDAQ: QUIK), the innovator of ultra-low power programmable sensor processing solutions, today announced its new EOS™ S3 sensor processing platform. The EOS platform incorporates a revolutionary architecture that enables the industry’s most advanced and computationally intensive sensor-driven applications at a fraction of the power consumption of competing technologies.
The EOS platform is a multi-core SoC that incorporates three dedicated processing engines. These include QuickLogic’s proprietary, patent-pending microDSP-like Flexible Fusion Engine (FFE), an ARM® Cortex® M4F Microcontroller (MCU), and a front-end sensor manager. The FFE and sensor manager handle the bulk of the algorithm processing, which minimizes the duty cycle for the floating point MCU. This approach dramatically lowers aggregate power consumption, and enables mobile, wearable and IoT device designers to introduce next generation sensor-driven applications, such as pedestrian dead reckoning (PDR), indoor navigation, motion compensated heart rate monitoring, and other advanced biological applications within their power budgets.
The EOS platform includes a hardened subsystem specifically designed for always-listening voice applications. With its dedicated PDM-to-PCM conversion block, and Sensory™’s Low Power Sound Detector (LPSD) technology, the EOS system enables always-on voice triggering and recognition while consuming less than 350 microAmps, far better than traditional MCU-based solutions.
The EOS platform provides the unique benefit of 2,800 effective logic cells of in-system reprogrammable logic that can be used for an additional FFE or customer-specific hardware differentiated features. No other sensor processing system on the market offers the combination of hardware and software flexibility, computational capacity, and the micro-power operation provided by the EOS platform.
The EOS SoC is designed to maximize the efficiency of QuickLogic’s extensive SenseMe™ algorithm library. The EOS S3 platform and SenseMe library are compliant with Android Lollipop as well as various Real Time Operating Systems (RTOS). Since the platform is sensor and algorithm agnostic, it can support third party and customer-developed algorithms through QuickLogic’s industry-standard Eclipse Integrated Development Environment (IDE) plugin. The IDE provides optimized and proven code generation tools as well as a feature-rich debugging environment to ensure quick porting of existing code into both the FFE and the ARM M4F MCU of the EOS S3 platform.
Based on research data published by IHS iSuppli, the total available market for sensor processing solutions in smartphone, tablet and wearable applications will reach 2 billion units in 2019. “We expect that the annual market for embedded processors as sensor hubs in handsets, tablets and wearable health and fitness devices will exceed 2.0 billion units by 2019,” said Tom Hackenberg, Principal Analyst at IHS Technology. This market growth is driven by an increase in the number of sensors in each product as the devices transition from simple products like pedometers, to sophisticated, multipurpose devices that feature always-on capabilities. Providing these demanding capabilities without sacrificing battery life makes power consumption a major factor in the success of these advanced devices. Power efficient sensor hubs, such as QuickLogic’s EOS platform, will be the enabling hardware that allows device designers to quickly and easily incorporate multiple advanced features without increasing power drain.”
Some of the target applications include but are not limited to:
- Always-on, always-listening voice recognition and triggering
- Pedometry, pedestrian dead reckoning, and indoor navigation
- Sports and activity monitoring
- Biological and environmental sensor applications
- Sensor fusion including gestures and context awareness
- Augmented reality
- Gaming
“QuickLogic’s revolutionary EOS platform enables OEMs to deliver a new class of advanced applications previously impractical to implement within the battery life constraints of today’s mobile devices,” said Brian Faith, vice president of worldwide sales and marketing at QuickLogic. “The EOS platform sets a new standard for multi-core sensor processing. No other solution in the market today can come close to delivering the combination of flexibility, computational bandwidth and ultra-low power consumption.”
| Feature | Details |
| Processor Cores | 180 DMIPS of aggregate processing capability 578 KB of aggregate SRAM for code and data storage |
| QuickLogic Proprietary microDSP Flexible Fusion Engine | 50 KB SRAM for Code 16 KB SRAM for Data Very Long Instruction Word (VLIW) microDSP architecture 50 microWatts/MHz As low as 12.5 microWatts/DMIPS |
| ARM Cortex M4F | Up to 80 MHz Up to 512 KB SRAM, 32-Bit, includes Floating Point Unit 100 microWatts/MHz; ~80 microWatts/DMIPS |
| Programmable Logic | 2,800 Effective Logic Cells Capable of implementing an additional FFE and customer-specific functionality |
| Package Configurations | |
| Ball Grid Array (BGA) | 3.5 x 3.5 mm x 0.8 mm, 0.40 mm ball pitch, 49-ball, 34 user I/O’s |
| Wafer Level Chip Scale Package (WLCSP) | 2.5 x 2.3 mm x 0.7 mm, 0.35 mm ball pitch, 36-ball, 28 user I/O’s |
| Integrated Voice | Always-On Voice Trigger and Phrase Recognition Capability, in conjunction with Sensory |
| I2S and PDM Microphone Input with support for mono and stereo configurations | |
| Integrated Hardware PDM to PCM Conversion Sensory Low Power Sound Detector (LPSD) |
|
| Interface Support | |
| To Host | SPI Slave |
| To Sensors and Peripherals | SPI Master (2X), I2C, UART |
| To Microphones | PDM and I2S |
| Additional Components | |
| ADC | 12-Bit Sigma Delta |
| Regulator | Low Drop Out (LDO), with 1.8 to 3.6 V input support |
| System Clock | Integrated 32 kHz and High Speed Oscillator |
| Development Environment | Industry Standard, Eclipse IDE Plugin |
Availability
Samples of the EOS sensor processing platform will be available in September 2015. For more information, please visit www.quicklogic.com/EOS.
About QuickLogic
QuickLogic Corporation is the leading provider of ultra-low power, customizable sensor processing platforms, Display, and Connectivity semiconductor solutions for smartphone, tablet, wearable, and mobile enterprise OEMs. Called Customer Specific Standard Products (CSSPs), these programmable ‘silicon plus software’ solutions enable our customers to bring hardware-differentiated products to market quickly and cost effectively. For more information about QuickLogic and CSSPs, visit www.quicklogic.com.
QuickLogic is a registered trademark and the QuickLogic logo and EOS are trademarks of QuickLogic Corporation. All other brands or trademarks are the property of their respective holders and should be treated as such.
Contact:
Andrea Vedanayagam
Veda Communications
408.656.4494
Email Contact
(IMNP) Secures Funding Of Up To $21.5 Million From Institutional Investors
Up to $9.5 Million in Debt Financing and $12 Million in Equity Financing Company to Advance its Immuno-Dermatology and Inflammatory Bowel Disease Product Candidates Lead Compound Bertilimumab, First-in-Class Autoimmune Therapy, a Priority
NEW YORK, July 29, 2015 — Immune Pharmaceuticals Inc. (NASDAQ: IMNP) announced today that it has secured financings of up to $21.5 million through two financing agreements. The first, with Hercules Technology Growth Capital, Inc. (NYSE: HTGC) (“Hercules”), for a term loan of up to $9.5 million. The second agreement, with mutual fund Discover Growth Fund (“Discover”), for the sale to Discover of newly created Series D Redeemable Convertible Preferred Stock (“Preferred Stock”) for up to $12 million in gross proceeds to the company.
Immune received $13.5 million in gross proceeds: $9.0 million from Discover and $4.5 million from Hercules, following the execution of the two agreements. Immune expects to receive an additional $3.0 million from Discover upon an effective “resale” registration statement for the securities sold and stockholders approval in accordance with the NASDAQ rules (stockholders of the company, representing close to 50% of the voting power as of July 28, 2015, have already agreed to vote in favor of such proposal). Immune also has the option to draw down additional capital under the term loan with Hercules of up to $5.0 million prior to June 15, 2016, subject to certain clinical milestones and other conditions.
“We believe bertilimumab is a promising first-in-class clinical asset with the potential to address unmet medical needs for several inflammatory and auto-immune conditions,” said Himani Bhalla, Principal at Hercules. “Hercules’ track record of investing in numerous biotechnology companies focused on antibody therapeutics provides us with an insight into the potential of the Immune pipeline,” she added.
The Preferred Stock issued to Discover is convertible at a fixed price of $2.50 per share and has a six and a half year maturity term, at which time it will convert automatically into common stock at $2.50 per share. The preferred stock bears an accrued annual dividend rate of 8.0%, which may range from 0% to 15%, based on certain adjustments and conditions. The dividend is payable in cash or common stock at the sole discretion of Immune.
“These financing agreements offer a vote of confidence from two institutional investors, Hercules and Discover, in support of clinical development for our drug candidate, bertilimumab, in bullous pemphigoid and ulcerative colitis”, said Dr. Daniel Teper, Chief Executive Officer, Immune. “With this financing, we intend to pursue a three-fold approach to advance our pipeline in addition to the two key indications described: explore additional indications for bertilimumab, bring the topical nano-formulated cyclosporine program into clinical trials in atopic dermatitis and psoriasis, and advance our lead NanomAb candidate to Phase I in oncology,”
“This financing extends our working capital for the next eighteen to twenty four months. It strengthens our balance sheet in support of growth-oriented research and development activities consistent with our long-range business plan. In addition, this financing strengthens our ability to maximize the value of the AmiKet™ asset in our on-going partnering discussions”, added Gad Berdugo, Executive Vice President and Chief Financial Officer of Immune.
Further information with respect to the definitive agreements with Hercules and Discover is contained in a Current Report on Form 8-K which will be filed by Immune Pharmaceuticals with the Securities and Exchange Commission.
Immune’s senior management will provide additional information on the financing, progress of its clinical trials and partnering activities, following the release of its second quarter financial report, in a conference call on Monday August 17th, 2015.
Roth Capital Partners and Chardan Capital Markets acted as co-lead placement agents on the Discover transaction. TriPoint Global Equities acted as sole placement agent on the Hercules transaction.
444 shares of Preferred Stock described above, and the shares of common stock issuable upon conversion of the Preferred Stock and any dividends payable thereof, were offered by the company pursuant to a prospectus supplement to the company’s “shelf” registration statement on Form S-3 (File No. 333-198647), which became effective on October 28, 2014. 503 of the shares of Preferred Stock, and the shares of common stock issuable upon conversion of the Preferred Stock and any dividends payable thereof, have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), will be issued in the concurrent private placement pursuant to the exemption provided in Section 4(a)(2) under the Securities Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements. The Preferred Stock was offered only to one institutional accredited investor. Immune has agreed to file a registration statement with the SEC covering the resale of the shares of common stock issuable upon conversion of the Preferred Stock issued in the private placement as well as any dividends payable in shares of common stock.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor will there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction. Immune has filed a prospectus supplement with the SEC relating to the shares of Preferred Stock, and the shares of common stock issuable upon conversion of the Preferred Stock and any dividends payable thereof, issued in the registered direct offering.
About Immune Pharmaceuticals
Immune Pharmaceuticals Inc. applies a personalized approach to treating and, developing novel, highly-targeted antibody therapeutics to improve the lives of patients with inflammatory diseases and cancer. The Company’s lead product candidate, bertilimumab, is in clinical development for moderate to severe ulcerative colitis as well as for bullous pemphigoid, an orphan auto-immune dermatological condition. Immune’s pipeline also includes NanomAbs®, antibody nanoparticle conjugates, for the targeted delivery of chemotherapeutics, and AmiKet™, a topical neuropathic pain drug candidate.
For more information, visit Immune’s website at www.immunepharmaceuticals.com
About Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) is the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related industries, including technology, biotechnology, life sciences, and energy and renewable technology, at all stages of development. Since inception (December 2003), Hercules has committed more than $5.2 billion to over 320 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contact info@htgc.com, or call 650.289.3060.
About Discover Growth Fund
Discover Growth Fund is a mutual fund, focused on making equity investments into small-cap and micro-cap public companies that have substantial growth potential. The Fund employs a fundamental equity investment strategy, which is characterized by intensive due diligence, first-hand research and disciplined company evaluation. The portfolio is comprised of smaller capitalization companies that are higher quality, have more effective management, and superior business models likely to produce higher returns for our investors. For more information on Discover Growth Fund visit www.dgfund.com.
Forward-Looking Statements
This news release and any oral statements made with respect to the information contained in this news release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “believes,” “estimates,” “projects,” “potential,” “expects,” “plans,” “anticipates,” “intends,” “continues,” “forecast,” “designed,” “goal” or the negative of those words or other comparable words to be uncertain and forward-looking. Such forward-looking statements include statements that express plans, anticipation, intent, contingency, goals, targets, future development and are otherwise not statements of historical fact. These statements are based on our current expectations and are subject to risks and uncertainties that could cause actual results or developments to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Factors that may cause actual results or developments to differ materially include, but not limited to: the risks associated with the adequacy of our existing cash resources and our ability to continue as a going concern; the risks associated with our ability to continue to meet our obligations under our existing debt agreements; the risk that clinical trials for bertilimumab or AmiKet will not be successful; the risk that bertilimumab, AmiKet or compounds arising from our NanomAbs program will not receive regulatory approval or achieve significant commercial success; the risk that we will not be able to find a partner to help conduct the Phase III trials for AmiKet on attractive terms, on a timely basis or at all; the risk that our other product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later-stage clinical trials; the risk that we will not obtain approval to market any of our product candidates; the risks associated with dependence upon key personnel; the risks associated with reliance on collaborative partners and others for further clinical trials, development, manufacturing and commercialization of our product candidates; the cost, delays and uncertainties associated with our scientific research, product development, clinical trials and regulatory approval process; our history of operating losses since our inception; the highly competitive nature of our business; risks associated with litigation; and risks associated with our ability to protect our intellectual property. These factors and other material risks are more fully discussed in our periodic reports, including our reports on Forms 8-K, 10-Q and 10-K and other filings with the U.S. Securities and Exchange Commission. You are urged to carefully review and consider the disclosures found in our filings, which are available at www.sec.gov or at www.immunepharmaceuticals.com. You are cautioned not to place undue reliance on any forward-looking statements, any of which could turn out to be wrong due to inaccurate assumptions, unknown risks or uncertainties or other risk factors. We expressly disclaim any obligation to publicly update any forward looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
(GSOL) Announces Preliminary Tender Offer Results
NEW YORK, July 29, 2015 — Global Sources Ltd. (NASDAQ: GSOL) announced today the preliminary results of its cash tender offer to purchase up to 6,666,666 shares of its issued and outstanding common shares at a price of $7.50 per share. The offer to purchase shares commenced on June 26, 2015 and expired at 12:00 midnight, New York City time, on July 27, 2015.
As of July 27, 2015, the company’s shares closed at $6.61 per share, as compared to $6.81 per share as of June 26, 2015, the date the tender offer commenced.
Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, approximately 12.6 million shares of the company’s common shares were properly tendered and not properly withdrawn. The number of shares properly tendered and not properly withdrawn is preliminary and subject to change. Given that the number of shares tendered was greater than the number of shares that the company offered to purchase, it will be necessary to apply the “odd lot” priority and pro-ration provisions described in the company’s offer to purchase. The “odd lot” priority and pro-ration process is estimated to be concluded by July 30, 2015 and payment to shareholders is expected to promptly commence after that process has been completed. The company will issue payment of $7.50 per share for all “odd lot” and pro-rata shares that were properly tendered and not properly withdrawn.
Based on the preliminary results of the tender offer, the company will become a “controlled company” under the NASDAQ rules upon the completion of the tender offer. As noted in the company’s offer to purchase, the company has no present intention to avail itself of the corporate governance exceptions afforded to a “controlled company” under the NASDAQ rules.
In addition to Computershare’s role as the depositary, Georgeson Inc. served as the information agent. Questions regarding the tender offer should be directed to Georgeson. All shareholders can contact Georgeson by calling them at: (1-888) 607-6511. Non-U.S. shareholders can contact Georgeson by calling them at: (1-781) 575-2137. Alternatively, shareholders can email Georgeson at globalsources@georgeson.com. These telephone numbers and email address are scheduled to remain operational until at least Aug. 26, 2015.
About Global Sources
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China.
The core business facilitates trade between Asia and the world using English-language media such as online marketplaces (GlobalSources.com), print and digital magazines, sourcing research reports, private sourcing events, and trade shows.
More than 1 million international buyers, including 95 of the world’s top 100 retailers, use these services to obtain product and company information to help them source more profitably from overseas supply markets. These services also provide suppliers with integrated marketing solutions to build corporate image, generate sales leads and win orders from buyers in more than 240 countries and territories.
Now in its fifth decade, Global Sources has been publicly listed on the NASDAQ since 2000.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933, as amended and Section 21-E of the Securities Exchange Act of 1934, as amended. The company’s actual results could differ materially from those set forth in the forward-looking statements as a result of the risks associated with the company’s business, changes in general economic conditions, and changes in the assumptions used in making such forward-looking statements.
| Press Contact in Asia | Investor Contact in Asia |
| Camellia So | Connie Lai |
| Tel: (852) 2555-5021 | Tel: (852) 2555-4747 |
| e-mail: cso@globalsources.com | e-mail: investor@globalsources.com |
| Press Contact in U.S. | Investor Contact in U.S. |
| Brendon Ouimette | Cathy Mattison |
| Tel: (1-480) 664-8309 | LHA |
| e-mail: bouimette@globalsources.com | Tel: (1-415) 433-3777 |
| e-mail: cmattison@lhai.com |
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