CYRS, VGPR, PAYI, DVME, JAGR, BRYN, QEDN, EWBC, ONSM, CSU, CGEN OTCPicks.com Daily Market Movers Digest Midday Report for Monday, November 9th

Our Stocks to Watch today include Cheyenne Resources Corp. (OTCBB: CYRS), Vega Promotional Systems Inc. (OTC: VGPR), Pay88 Inc. (OTCBB: PAYI), Diverse Media Group Inc. (OTC: DVME), Jaguar Mining Enterprises Inc. (OTC: JAGR), Bryn Resources Inc. (OTC: BRYN), QED Connect Inc. (OTC: QEDN), East West Bancorp (Nasdaq: EWBC), Onstream Media Corp. (Nasdaq: ONSM), Carriage Services Inc. (NYSE: CSV) and Compugen Ltd. (Nasdaq: CGEN).

 

Visit http://www.otcpicks.com/microcap.htm to register for our Daily Market Mover’s Digest Newsletter and Email Stock Watch Alerts.

 

CHEYENNE RESOURCES CORPORATION (OTCBB: CYRS)

 

Detailed Quote: http://www.otcpicks.com/quotes/CYRS.php 

 

Company Profile: http://www.otcpicks.com/cheyenne-resources.htm

 

Cheyenne Resources Corp. engages in the exploration and development of oil and gas properties primarily in the United States. The company was formerly known as Atlas Oil and Gas, Inc. and changed its name to Cheyenne Resources Corp. on September 1, 2009. Cheyenne Resources Corp. is based in Winston-Salem, North Carolina.

 

CYRS News:

 

November 6 - Cheyenne Resources Negotiating to Secure Large Oil Property in Abilene, Texas

 

Cheyenne Resources Corp. (OTCBB: CYRS), an emerging company focusing on major exploration and production reclamation projects in the oil and gas sector, reported that it currently is in negotiations to secure 1,000 acres of property in Abilene, Texas.

 

The site has reported reserves of 15.7 million barrels of oil at depths of less than 1,000 feet. There are 11 additional zones on the property with recoverable crude at depths of 500 to 4,500 feet.

 

"Upon successful completion of negotiations," states Cheyenne Resources President Thomas J. Cunningham, "re-work will commence immediately. Within six months, we expect production of 150 barrels of oil per day. At a price of $70 per barrel, that would yield revenues of approximately $315,000 per month, or nearly $4 million annually. Cheyenne Resources will have an 80% working interest in this property."

 

VEGA PROMOTIONAL SYSTEMS INCORPORATED (OTC: VGPR)

 

Detailed Quote: http://www.otcpicks.com/quotes/VGPR.php 

 

Company Profile: http://www.otcpicks.com/Newsletter/VGPR_eProfile_110909.html

 

Vega Biofuels, Inc. (VGPR) was formed to pursue the production and sale of biofuel products throughout the world. With the growing need for clean energy, and the uncertain costs of fossil fuels, power generating plants around the world are looking at more useful and economical methods to run their power systems.

 

VGPR News:

 

November 5 - Vega Redesigns 'Green Valley Project' to Increase Power Production

 

Vega Promotional Systems, Inc. (OTC: VGPR) announced the Company has entered into an Agreement with green energy expert, Robert Chew to redesign the "Green Valley Project."

 

Located in western Indiana, The Green Valley Project is a multifaceted green energy power production facility that converts inexpensive methane gas from an abandoned coal mine into electricity and thermal energy.

 

Vega recently announced it has entered into a Gas Purchase Agreement with Chattanooga based Tennessee Power Company to purchase the necessary methane gas to run the project. Tennessee Power Company owns the rights to the coal bed methane located in the 314 acre abandoned Green Valley coal mine. The methane gas will be pumped from the mine and delivered through gas lines directly to the production facility located on the surface just above the mine that was recently leased by Vega.

 

The methane has been tested and a demonstration project was in operation for approximately three years, proving the viability of utilizing coal bed methane from the Green Valley Mine as a sole source fuel to generate electricity from natural gas reciprocating engine generator sets.

 

Mr. Chew has been retained to manage the redesign of the project. One change that will be made is that the power generating capacity of the facility will be increased by 100% to generate approximately 5 megawatts of power that will be sold to the local power company.

 

A seasoned veteran of the energy industry, Mr. Chew has spent 17 years in the power sector mostly in Brazil working with Teco Power Services bidding on Greenfield power plant projects in Brazil. In addition, Mr. Chew has worked with DQE Energy Services to launch a distributive generation company in Brazil and help start a small distributive power and substation firm in Sao Paulo called Grupo Energia. Mr. Chew was a qualified nuclear plant operator in the United States Navy and graduated from the University of South Carolina with a Masters Degree in international business.

 

The Company will release additional details on The Green Valley Project as the project moves forward.

 

PAY88 INCORPORATED (OTCBB: PAYI)

 

Detailed Quote: http://www.otcpicks.com/quotes/PAYI.php 

 

Company Profile: http://www.otcpicks.com/pay88-inc/pay88-inc.htm

 

Pay88, Inc., through its wholly-owned subsidiary, Chongqing Qianbao Technology, Ltd., is a rapidly growing digital technology company and the leading reseller of internet game time in China with over $19.7 million USD in revenues in 2008, a 134.8% increase over revenues in 2007. The company is primarily engaged in the sale of prepaid online multi-player game cards in more than 20 cities in China, an industry that generated $2.75 billion in 2008 and is expected to reach $3.8 billion by the end of 2009. In addition, The Company sells prepaid telephone cards and over 800 software products, including cooking, language and education software. Qianbao sells its game cards through its websites, www.iamseller.com, and www.17logo.com, which has more than 1 million registered users. The Company has successfully captured more than 80% of the online multi-player game time market in Chongqing, a municipality of more than 31 million people, and the third fastest-growing regional economy in China. Pay88 leverages such consumer establishments as retail kiosks and Internet cafes to increase its distribution of highly popular games for an increasing number of gaming companies.

 

PAYI News:

 

November 9 - Pay88, Inc. Takes First Step to Becoming Online Supermarket of Financial Products and Services

 

Pay88, Inc. (OTCBB: PAYI) announced that it has signed an LOI with Chongqing Kai Yuan investment Co. marking Pay88's first step toward achieving their goal of becoming China's online supermarket of financial products and services.

 

Chongqing Kai Yuan Investment Co. is a niche financial services firm that provides micro-loans to small enterprises throughout Chongqing, a municipality of more than 31 million people, and the third fastest-growing regional economy in China. Kai Yuan Investments reported a net profit of $1.6 million USD in 2008.

 

Pay88, is already the leading reseller of internet game time in China's booming $2.75 billion online video game market. The company sells online multiplayer game time and prepaid cards in more than 20 cities in China and has already successfully captured more than 80% of the online multi-player game time market in Chongqing. Pay88 also markets prepaid telephone cards and over 800 software products, including cooking, language and education software. Adding financial products and services to their menu of offerings, company officials say, is a natural and a powerful step forward in the company's goal to become the premier online provider of consumer products and services throughout China.

 

The agreement with Chongqing Kai Yuan will soon make it possible for new clients to use Pay88's platform to apply for loans online. In addition, it will allow current clients to register, maintain and update their business profiles and financial reports online, a convenience that wasn't previously available. Pay88 projects the expansion of their platform, making these services fully available, will be complete by Q1 of 2010.

 

Guo Fan, Chairman and President of Pay88, commented on the new agreement saying, "Kai Yuan has a solid management structure with excellent local know-how about Chinese enterprises, the capital markets and the finance systems, and they provide valuable financial products and services to their clients. This agreement leverages Pay88's large customer base, diverse distribution channels and strong presence in Chongqing and southwest China offering both our companies excellent opportunities for growth."

 

"Our long-term goal," he adds, "is to digitize and streamline the whole processes of customer acquisition, client management, loan application and loan issuing. Once the expansion of our platform is complete, we plan to co-design and digitize an entire series of financial products, not only with Chongqing Kai Yuan Investment Co., but with many reputable financial services firms."

 

DIVERSE MEDIA GROUP INCORPORATED (OTC: DVME)

"Up 16.67% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/DVME.php 

 

Company Profile: http://otcpicks.com/Newsletter/DVME_eProfile_091709.html 

 

Diverse Media Group, Inc. is an entertainment company that aggregates expertise across all aspects of the media industry. Diverse Media Group has at its core the established 27-year history of its wholly owned subsidiary, Diverse Talent Group. Diverse Talent Group is now the 10th largest Hollywood agency offering talent and literary representation in commercials, episodic television, cable programming and motion pictures. The company has the ability to create programming, foster distribution and represent talented individuals to fuel a new digital age of content generation. The parent company also includes the subsidiary Talent Quest America, Inc., which identifies new and rising talent representing the future of the Hollywood entertainment community.

 

DVME News:

 

September 28 - Network Talks Underway to Develop 'Momo' into Weekly TV Series Title is Part of Diverse Media Group, Inc. Option Agreement with Elio Pictures

 

“Momo” executive producers Dimitri Logothetis and Nicholas Celozzi have announced that talks are underway with networks in the U.S. and Canada to develop the project as a weekly series for television. “Momo” is one of six titles for which Diverse Media Group, Inc. (OTC: DVME) has optioned to purchase a 30% interest from Elio Pictures, Ltd.

 

Diverse Media Group CEO Chris Nassif calls the development “a huge step forward in our company’s transition to a complete entertainment and media services provider.”

 

Logothetis and Celozzi have been working for seven years on the life story of infamous mob boss Sam Giancana. After securing the exclusive story rights from Francine Giancana to her father’s life story, they originally set the project up at Warner Bros. and Turner as a mini-series. Logothetis calculates development costs to date at $75,000. With the success of the 60's-based AMC series “Mad Men,” they decided that “Momo” could also satisfy weekly audience interest in that period of Americana. Giancana was born in 1908 and killed in 1974.

 

Celozzi describes the series as real-life “Sopranos” meets “The Gangster Chronicles.” Sam Giancana was a very compelling personality. As a family man, Sam lost his wife to a rheumatic heart disease, raised three daughters, supported an extended family and was one of the most powerful men of the twentieth century. Through union ties Giancana helped swing the Illinois vote during the Kennedy/Nixon election. He was the first mobster to claim his rights to the Fifth Amendment in front of live television cameras while questioned by Bobby Kennedy during the McClellan committee hearings. Sam had a long-standing friendship with Frank Sinatra, the leader of the so called “Rat Pack,” who played in Chicago nightclubs run by Giancana.

 

The other Elio Pictures titles optioned by Diverse Media Group include “The Lost Angel” (2005) with Judd Nelson and Celozzi, “Framed by Seduction” (2004) starring Robert Patrick, “Nightmare Boulevard” (2004) starring Claudia Christian and Corbin Bernsen, “7-10 Split” (2007) featuring Tara Reid and Rachel Hunter, and “Senior Skip Day” (2008) with Lea Thompson and Norm MacDonald.

 

The option is being purchased with 25 million shares of Diverse Media Group restricted common stock, valued at $50,000. The Company has until March 30, 2010, to exercise its option for a cash price of an additional $400,000.

 

JAGUAR MINING ENTERPRISES INCORPORATED (OTC: JAGR)

 

Detailed Quote: www.otcpicks.com/quotes/JAGR.php 

 

Company Profile: http://www.otcpicks.com/jaguar-mining/jaguar-mining.htm 

 

Jaguar Mining Enterprises, Inc. is an independent mining company engaged in the acquisition, development, and exploitation of iron ore primarily mined in Mexico. The Company specializes in the exploitation of iron ore mines with proven reserves. The Company's strategy is to locate, acquire and develop mine locations that contain sufficient quantities of iron ore and require minimal start-up costs.

 

JAGR News:

 

October 27 - Jaguar Mining Enterprises Files Its Initial Disclosure Statement on Pink Sheets

 

Jaguar Mining Enterprises, Inc. (OTC: JAGR), an independent mining company engaged in the acquisition, development, and exploitation of iron ore primarily mined in Mexico, announced that the company has filed its Initial Information and Disclosure Statement through OTC Disclosure and News Service. A current summation of the company and its business objectives is now available on Pink Sheets (www.pinksheets.com) under the company's symbol, JAGR.

 

Jaguar Mining also announced that it has begun discussions with a Shanghai, China based firm to act as its direct sales and marketing representative to Chinese steel manufacturers. Jaguar hopes to finalize terms of an agreement which will provide the company with its first strategic partnership in China, the world's largest iron ore importer. The company plans to release complete details once a definitive agreement has been completed.

 

BRYN RESOURCES INCORPORATED (OTC: BRYN)

"Up 210.97% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/BRYN.php 

 

Bryn Resources Inc. is focused primarily on exploration and development of mineral resources and is currently arranging for the necessary capital to provide for the expenditures of surface sampling, assay work, IP work and further exploration requirements to define potential drill targets on the 1,980 acres of the Pequop Gold, Golden Eagle, Ace and Ore Claims this summer. The company is also proceeding to acquire additional claims with the JV exploration partner in this high value gold target area on a continuing basis.

 

BRYN News:

 

January 1 - BRYN Resources Inc. Releases Quarterly Report

 

Bryn Resources Inc. (OTC: BRYN) has released its latest financial report for the quarter ended March 31, 2009 at http://finance.yahoo.com/q/is?s=bryn.pk.

 

QED CONNECT INCORPORATED (OTC: QEDN)

"Up 100.00% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/QEDN.php

 

QED Connect, Inc. is an information security Software-as-a-Service (SaaS) provider that gives organizations visibility, management and control of activity on all their computers, laptops and wireless devices. The company's SaaS, Omni Manager, is an affordable way to monitor and manage how employees are using company computers and the Internet any time, any location; solving problems created by today's 'virtual' work environment (branch offices, remote workers, traveling employees). Omni Manager is a web-hosted software application that includes Internet filtering and blocking, antivirus, instant messaging management, asset tracking, application usage monitoring and policy management. ROI is delivered by employee productivity gains, cost savings and improved operational efficiencies.

 

QEDN News:

 

November 9 - QED Connect Inc. Signs of Letter of Intent for Merger

 

QED Connect Inc. (OTC: QEDN) ("QED Connect"), an innovative, software-as-a-service (SaaS) provider for the information security market, announced that the company has signed a Letter of Intent (LOI) to merge with Southeastern Retail Services, Inc., d/b/a ProRemote Solutions ("ProRemote Solutions").

 

ProRemote Solutions is a manufacturer of innovative, home-based technology solutions for the Home Theatre Industry. The company provides a value proposition of proprietary, single source remote control solutions integrating audio & video media servers along with remote monitoring, security and lighting systems in a single remote control unit. ProRemote also offers stand alone home theater products. ProRemote Solutions is headquartered in Marietta, GA.

 

Tom Makmann, President of QED, commented, "By joining with ProRemote Solutions, QED Connect is expanding its technology solutions into an exciting new market place that is expected to achieve high growth. The home control systems market is expected to be over $4 billion next year and media server market is estimated to hit $5.5 billion in the next few years (per Parks and Associates and The Forrester Group)."

 

Due to the economic environment over the past several years, QED Connect was unable to raise the required capital it expected to obtain and unable to generate sufficient revenues to support the organization and subsequently had to downsize. Management expects that the proposed merger will provide an additional revenue and capital financing opportunities.

 

EAST WEST BANCORP INCORPORATED (NASDAQ: EWBC)

"Up 47.75% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/EWBC.php

 

East West Bancorp Inc. is a publicly owned company with over $19 billion in assets. The Company’s wholly owned subsidiary, FDIC-insured East West Bank, is the second largest bank headquartered in California and the largest bank in the nation focused on serving the Asian American community. East West Bank has 137 branches, including 112 branches in California, nine branches in New York, five branches in metropolitan Atlanta, three branches in Massachusetts, two branches in Houston, and two branches in Seattle. East West Bank has four full-service branches in Greater China, including two branches in Hong Kong, one branch in Shanghai, and one branch in Shantou. The Bank also has representative offices in Beijing, Guangzhou, Shanghai and Shenzhen, China, and Taipei, Taiwan.

 

EWBC News:

 

November 6 - East West Bancorp Announces Conference Call to discuss Acquisition of the Operations of United Commercial Bank

 

East West Bancorp (Nasdaq: EWBC) announced the acquisition of the operations of United Commercial Bank in an FDIC assisted transaction. East West will host a call to discuss the transaction on Monday, November 9, 2009 at 11:00 A.M. PT/ 2:00 P.M. ET. The public and investment community are invited to listen as management discusses the details of the transaction.

 

Those wishing to hear the conference call may log on to www.streetevents.com. The following dial-in information is provided for participation in the conference call: Local call (within the US and Canada) — (800) 860-2442; International call — (412) 858-4600. Additional information for the conference call and replay is provided on the Investor Relations page at www.eastwestbank.com. Slides related to the transaction will also be posted to the company website prior to the call.

 

ONSTREAM MEDIA CORPORATION (NASD: ONSM)

"Up 21.02% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/ONSM.php

 

Onstream Media Corporation operates as an online service provider of live and on-demand Internet video, corporate Web communications, and content management applications. Its Digital Media Services Group consists of Smart Encoding, Digital Media Services Platform (DMSP), User Generated Content (UGC), and EDNet divisions. The Smart Encoding division provides automated and manual encoding and editorial services for processing digital media, and online search, retrieval, and streaming of these media, which include photos, videos, audio, engineering specs, architectural plans, and Web pages. The DMSP division offers an online subscription-based service that includes access to enabling technologies and features for clients to acquire, store, index, secure, manage, distribute, and transform digital assets into saleable commodities. The UGC division provides a video ingestion and flash encoder that could be used by its clients on a stand-alone basis or in conjunction with the DMSP. The EDNet division provides connectivity within the entertainment and advertising industries through its managed network, which encompasses production and post-production companies, advertisers, producers, directors, and talent. The company's Web Communications Services Group comprises Webcasting, Infinite Conferencing, and Travel divisions. The Webcasting division provides an array of corporate-oriented, Web-based media services to the corporate market, which include live audio and video Webcasting, and on-demand audio and video streaming. The Infinite Conferencing division offers reservationless and operator-assisted audio and Web conferencing services. The Travel division produces and distributes Internet-based multi-media streaming videos related to hotels, resorts, time-shares, golf facilities, and other travel destinations. The company was founded in 1993 and is headquartered in Pompano Beach, Florida.

 

ONSM News:

 

November 4 - Onstream Media Expands Federal Government Business

 

New Contracts with the Department of the Treasury, REJ & Associates (a Prime Contractor for HUD's Federal Housing Administration) and a Renewal with the Nuclear Regulatory Commission

 

Onstream Media Corporation (Nasdaq: ONSM) a leading online service provider of live and on-demand internet video, corporate web communications and content management applications, today announced two Federal Government agreements including the Department of the Treasury's Internal Revenue Service (IRS) and the Nuclear Regulatory Commission (NRC). Onstream Media also announced a third agreement with strategic partner REJ & Associates, Inc. to provide Webinar services to the U.S. Department of Housing and Urban Development's Federal Housing Administration (FHA) Philadelphia Homeownership Center (HOC).

 

"Our business relationships with various federal and state governments have never been stronger," said Randy Selman, President and Chief Executive Officer of Onstream Media. "As demand for our multi-media web communication products and services continues to increase on the commercial side of our business, we're also pleased to report continued growth in the government sector, which we expect to continue to rise in the years to come."

 

Under the agreement with the IRS, Onstream Media will provide its comprehensive Digital Media Services Platform (DMSP) and live and on-demand webcasting services for ongoing education and targeted outreach delivery services. The IRS will use Onstream Media's technology to communicate important tax information to tax professionals, small businesses, and self-employed taxpayers in more dynamic, web-friendly and innovative formats such as podcasts, webinars, live broadcasts or other forms of web-based media.

 

The company expects to deliver approximately 24 recorded, on-demand webinars and live webcasts in the first year of this agreement that also includes four subsequent option years. For the video production services portion of the contract with the IRS, Onstream Media has teamed with the National Press Club, Broadcast Operations Center to rehearse, film, stream live and archive the webinars, which can be easily played back via the web on-demand.

 

"The IRS is always looking for better ways to use the latest technology to deliver critical tax information to the public," said Rob Wilkerson, director of IRS's Communications, Liaison and Disclosure. "Web-based communication provides a convenient, flexible and efficient way for taxpayers and tax professionals to get the latest information from IRS sources."

 

Under the HUD/FHA Philadelphia Homeownership Centers agreement with REJ & Associates, Inc., Onstream Media is subcontracted to provide audio-based web conferencing services that enable FHA to bring employees and other participants from around the country together for online workshops, seminars and trainings. REJ & Associates, Inc., a minority-owned, federally certified 8(a) and SDB located in Baltimore, MD., provides customers with integrated marketing and communications services. The company specializes in radio and television broadcast, print, internet and event production services.

 

"We're pleased to be working with Onstream Media and think that their software and support services offer great solutions and complement our ability to deliver webcast services to various government entities," said Elliott A. Wiley, Founder, President & CEO of REJ. "We're excited about this new strategic partnership and the opportunity it presents to open many more doors for REJ & Associates as well as Onstream Media."

 

In addition, the NRC has exercised its first one year option to renew and extend its multi-year agreement with Onstream Media to provide ongoing webcasting, streaming media and multi-media services. The company began providing the NRC with its webcasting services in March, 2008.

 

"Onstream has been able to provide live and archived video broadcasts to the NRC which helps create much-needed transparency and opens up the regulatory process to the general public," added Selman. "In fact, more and more government agencies are turning to Onstream Media to provide video and audio broadcasts online to ensure that public hearings, training material and other specialized events and information are available to reach their constituents, industry partners and employees."

 

CARRIAGE SERVICES INCORPORATED (NYSE: CSV)

"Up 4.28% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/CSV.php

 

Carriage Services, Inc. provides death care services and merchandise in the United States. The company operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers various services to meet a family’s funeral needs, including consultation, the removal and preparation of remains, the sale of caskets and related funeral merchandise, the use of funeral home facilities for visitation and worship, and transportation. The Cemetery Operations segment offers interment services; the rights to interment in cemetery sites, including grave sites, mausoleum crypts, and niches; and related cemetery merchandise, such as memorials and vaults. The company also markets funeral and cemetery services and products on a preneed basis. Its preneed funeral or cemetery contracts enable families to establish, in advance, the type of service to be performed, the products to be used, and the cost of such products and services. As of December 31, 2007, the company operated 139 funeral homes in 25 states and 32 cemeteries in 11 states. Carriage Services was founded in 1991 and is headquartered in Houston, Texas.

 

CSV News:

 

November 5 - Carriage Services Amends and Extends Credit Facility

 

Carriage Services, Inc. (NYSE: CSV) announced that, effective November 4, 2009, it has amended and extended its existing senior secured bank revolving credit facility with its lenders, Bank of America and Wells Fargo. Prior to the transaction, the $20 million credit facility was scheduled to mature in April 2010. The amended credit facility is in the amount of $40 million with an accordion provision for an additional $20 million and matures in November 2012. The primary purpose of the credit facility is to provide acquisition financing. As of this date, the facility is undrawn.

 

Additional information regarding the amended credit facility is contained in the Company's Form 8-K dated November 5, 2009, filed with the Securities and Exchange Commission.

 

Carriage Services is a leading provider of death care services and products. Carriage operates 134 funeral homes in 25 states and 32 cemeteries in 11 states.

 

COMPUGEN LIMITED (NASDAQ: CGEN)

"Up 18.93% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/CGEN.php

 

Compugen is a leading drug and diagnostic product candidate discovery company. Unlike traditional high throughput trial and error experimental based discovery, Compugen’s discovery efforts are based on in silico (by computer) prediction and selection utilizing a growing number of field focused proprietary discovery platforms accurately modeling biological processes at the molecular level. The resulting product candidates are then validated through in vitro and in vivo experimental studies and out-licensed for further development and commercialization under various forms of revenue sharing agreements. Compugen’s current collaborations include Bayer Schering Pharma, Biosite, Medarex, Inc., Merck & Co., Inc., Merck Serono, Ortho-Clinical Diagnostics (a Johnson & Johnson company), Roche, Siemens Healthcare Diagnostics, Inc., and Teva Pharmaceutical Industries. In 2002, Compugen established an affiliate, Evogene Ltd. (TASE: EVGN.TA), to utilize certain of the Company’s in silico predictive discovery capabilities in agricultural biotechnology.

 

CGEN News:

 

November 9 - Compugen Announces Discovery of Genetic Biomarker for Predisposition to Type 2 Diabetes

 

Compugen Ltd. (Nasdaq: CGEN) announced the discovery and experimental confirmation of a genetic biomarker, CGEN-40001 for predisposition to type 2 diabetes, the most common form of diabetes. This new biomarker was discovered using Compugen’s GeneVa® platform, which consists of an in silico database of approximately 350,000 predicted genetic variations in the human genome, with each predicted variation consisting of multiple consecutive nucleotides.

 

Predisposition markers are of particular value in diseases like type 2 diabetes, where specific lifestyle and health factors are known to play an important role. Following diagnosis, high-risk patients may benefit from more aggressive management either through lifestyle modification or drug treatment. There are an estimated 24 million people in the U.S. with diabetes, 90% of whom are affected by type 2 diabetes. During the past few years, extensive efforts by others searching for genetic markers for type 2 diabetes have utilized numerous genome-wide association studies, involving thousands of patients globally. Several validated genetic markers have been found; however, combining all the discovered biomarkers still explains only a small fraction of the heritability of the disease, so the need for additional markers continues to exist.

 

From the approximately 350,000 multiple nucleotide genetic variations predicted by the GeneVa® platform, a very small set of variations was selected as being potentially related to type 2 diabetes in Caucasians. This very small set, consisting of only 135 variations, was then tested in a genotyping experiment. In this study, CGEN-40001, a novel 15bp insertion in PFKP (a key regulatory enzyme in glycolysis), demonstrated the predicted correlation with type 2 diabetes in Caucasians. This correlation was then validated in a second study based on an independent set of samples. According to the two studies performed by Compugen, approximately 15% of the Caucasian population has at least one copy of this insertion. Furthermore, the studies showed that the presence of this insertion increases the risk of type 2 diabetes by 50-80%.

 

ABOUT TYPE 2 DIABETES

 

Diabetes mellitus type 2 is a chronic, life-long disorder that is characterized by high blood glucose in the context of insulin resistance and relative insulin deficiency. When glucose builds up in the blood rather than being absorbed into cells, it can lead to diabetic complications. Over time, diabetes can lead to blindness, kidney failure and nerve damage. Diabetes is also an important factor in accelerating the hardening and narrowing of arteries (atherosclerosis), which generally leads to strokes, coronary heart disease and other large blood vessel diseases. If left uncontrolled, the consequences can be life-threatening. However, type 2 diabetes is manageable and can be prevented. ”First-line” treatment consists of diet, weight control and physical activity.

 

At present, an estimated 8% of the U.S. population suffers from diabetes, 90% of whom are affected by type 2 diabetes. Moreover, prevalence rates in the U.S. have more than doubled since 1990, leading the U.S. Center for Disease Control to characterize this continuing increase as an epidemic. Worldwide, more than 150 million people are estimated to have this disorder; this number is expected to double by 2025.

 

ABOUT COMPUGEN’S GENEVA® PLATFORM

 

Compugen’s GeneVa® platform incorporates an in silico database of approximately 350,000 predicted human genetic variations. Each of these predicted variations consists of multiple consecutive nucleotides (in general varying between 2 and 500 nucleotides) and can be in the form of insertions, deletions and/or copy-number variations in the genome. Thus, these GeneVa® variations are much larger than the more commonly known SNP’s (Single Nucleotide Polymorphisms), millions of which are known to occur in the human genome, and with each SNP involving a change in only one nucleotide. It is generally believed that larger variations should have a more significant impact.

 

GeneVa® utilizes special purpose algorithms and other computational biology tools to select from the large database of genetic variations those variations that are predicted to be associated with the specific clinical phenotypes of interest, such as response or non-response to a specified drug of interest, or predisposition to a specified disease. Another key feature of the platform is a proprietary genotyping capability that allows the testing of multiple genetic variations on hundreds of DNA samples in a precise and cost-effective manner.

 

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Information contained in our report will contain "forward looking statements" as defined under Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Subscribers are cautioned not to place undue reliance upon these forward looking statements. These forward looking statements are subject to a number of known and unknown risks and uncertainties outside of our control that could cause actual operations or results to differ materially from those anticipated. Factors that could affect performance include, but are not limited to, those factors that are discussed in each profiled company's most recent reports or registration statements filed with the SEC. You should consider these factors in evaluating the forward looking statements included in the report and not place undue reliance upon such statements. We are committed to providing factual information on the companies that are profiled. However, we do not provide any assurance as to the accuracy or completeness of the information provided, including information regarding a profiled company's plans or ability to effect any planned or proposed actions. We have no first-hand knowledge of any profiled company's operations and therefore cannot comment on their capabilities, intent, resources, nor experience and we make no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company and related public information sources which we believe to be reliable but we cannot guarantee the accuracy of the information. To the fullest extent of the law, we will not be liable to any person or entity for the quality, accuracy, completeness, reliability, or timeliness of the information provided in the report, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information we provide to any person or entity (including, but not limited to, lost profits, loss of opportunities, trading losses, and damages that may result from any inaccuracy or incompleteness of this information). We encourage you to invest carefully and read investment information available at the websites of the SEC at http://www.sec.gov/ and FINRA at http://www.finra.org/.

Disclosure: OTCPicks.com has been compensated two thousand five hundred dollars by a third party (Bluewave Advisors) for CYRS advertising and promotional services. OTCPicks.com has not been compensated for VGPR advertising and promotional services but OTCPicks principles have purchased five hundred thousand free trading shares in the open market and reserves the right to sell any or all shares at any time. OTCPicks.com has been compensated six thousand five hundred dollars by a third part (Ladasa Inc.) for a two-week PAYI advertising and promotional program. OTCPicks has been compensated ten million free trading shares from a non-controlling third Party (Microcap Management) for DVME advertising and promotional services. OTCPicks.com has been compensated two hundred thousand free trading shares by a third party (Microcap Management) for JAGR advertising and promotional services. OTCPicks.com has been compensated ten thousand free trading shares by a third party (Downshire Capital) for BRYN advertising and promotional services. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. OTCPicks.com is a website partially owned by BlueWave Advisors, LLC, a financial public relations firm. BlueWave Advisors, LLC, its principal and/or its affiliates will hold positions in the company profiled and may buy or sell securities at any time without notice.