PROTEONOMIX, INC. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC (“XGen”) towards implementing operations in the United Arab Emirates (U.A.E.).
Proteonomix is the majority shareholder in XGen with the balance held by an anonymous investor group. Proteonomix personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting Proteonomix personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
It was further announced that XGen has expanded its talks within the region beyond a license for manufacture of and treatment with Proteonomix cellular material. Discussions are now further encompassing both the construction of XGen’s own manufacturing and treatment facility within the U.A.E. and on funding phased trials for one or more of Proteonomix’s proprietary cellular materials for treatment of disease.
Celgene Corporation (NASDAQ:CELG) reports the successful pricing of three series of senior unsecured notes for an aggregate principal amount of $1.25 billion. Of these notes, $500 million will mature in October 2015 and will bear interest at an annual rate of 2.45%, $500 million will mature in October 2020 and will bear interest at an annual rate of 3.95%, and $250 million will mature in October 2040 and will bear interest at an annual rate of 5.70%. The 2.45% notes due October 2015, the 3.95% notes due October 2020, and the 5.70% notes due October 2040 were priced to yield 2.481%, 3.981%, and 5.713%, respectively.
Celgene expects to use the net proceeds from the offering for general corporate purposes, which may include, without limitation, further development of Celgene�s clinical and preclinical programs, expansion of Celgene�s international operations, capital expenditures, strategic transactions and to meet working capital needs. The offering is expected to close on October 7, 2010.
Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of novel therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation.
Cell Therapeutics, Inc. (NASDAQ:CTIC) reports the results from its Annual Meeting of Shareholders held on Thursday, September 16, 2010.
At the Annual Meeting, shareholders elected John H. Bauer and Phillip M. Nudelman, M.D. to serve on the Company’s Board of Directors until the Company’s 2013 Annual Meeting. Shareholders approved the proposals to amend the Company’s amended and restated articles of incorporation to increase the total number of authorized shares and authorized shares of common stock and amend the Company’s 2007 Equity Incentive Plan, as amended (the “Plan”), to increase the number of shares available for issuance under the Plan. Shareholders ratified the selection of Stonefield Josephson, Inc. as the Company’s independent auditors for the year ending December 31, 2010.
Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable.
Cellcom Israel Ltd. (NYSE: CEL) reported recently that the Ministry of Communications, or MOC, published a UMTS spectrum tender for two additional UMTS operators. Participation will be allowed for new operators and Mirs Communications Ltd., or Mirs (an existing niche operator). The winners will be awarded a general license for the provision of cellular services (in Mirs’ case, its current license shall be amended). The tender does not set a completion date for the tender process. The tender conditions are subject to changes.
Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its approximately 3.341 million subscribers (as at June 30, 2010) with a broad range of value added services including cellular and landline telephony, roaming services for tourists in Israel and for its subscribers abroad and additional services in the areas of music, video, mobile office etc., based on Cellcom Israel’s technologically advanced infrastructure. The Company operates an HSPA 3.5 Generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE and TDMA networks. Cellcom Israel offers Israel’s broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Through its broad customer service network Cellcom Israel offers its customers technical support, account information, direct to the door parcel services, internet and fax services, dedicated centers for the hearing impaired, etc. As of 2006, Cellcom Israel, through its wholly owned subsidiary Cellcom Fixed Line Communications L.P., provides landline telephone communication services in Israel, in addition to data communication services.
No comments :
Post a Comment