AGRT, GTWO, LUXED, SNWT, BMGP, LDSR, TTDZ, CYCC, LUNA, XDSL, LJPC OTCPicks.com Daily Market Movers Digest Midday Report for Wednesday, December 30th

Our Stocks to Watch today include AGR Tools Inc. (OTCBB: AGRT), Gen2Media Corp. (OTCBB: GTWO), Lux Energy Corp. (OTCBB: LUXED), San West Inc. (OTCBB: SNWT), Biomagnetics Diagnostics Corp. (OTC: BMGP), Landstar Inc. (OTC: LDSR), Triton Distributions Systems Inc. (OTC: TTDZ), Cyclacel Pharmaceuticals Inc. (Nasdaq: CYCC), Luna Innovations Inc. (Nasdaq: LUNA), mPhase Technologies Inc. (OTCBB: XDSL) and La Jolla Pharmaceutical Co. (Nasdaq: LJPC).

 

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AGR TOOLS INCORPORATED (OTCBB: AGRT)

"Up 37.50% in morning trading"

 

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

 

Company Profile: http://www.otcpicks.com/agr-tools.htm

 

As a global leader in the manufacturing of high quality diamond tools, AGR Tools has been serving the construction and natural stone industries worldwide since 1983. AGR Stone & Tools USA, Inc. is the only manufacturer of a complete line of diamond tools designed for maximum performance for each application. Our products include turbo blades, polishing pads, cup wheels, core bits, tile blades, masonry blades, concrete blades, CNC tooling, engineered stone products and other high-end diamond tools.

 

AGRT News:

 

December 22 - AGR Expands Distribution Network to Nashville

 

AGR Tools, Inc. (OTCBB: AGRT) announces that AGR Stone & Tools USA, Inc., with which AGR Tools, Inc. has entered into a binding share exchange agreement, has expanded its distribution network into Nashville and the Middle Tennessee markets. With a population of approximately two million people and a multi-million dollar diamond tool market, the territory serviced by this addition will allow the company to continue increasing its presence in North America. The AGR Stone & Tools USA, Inc. distribution center in this region will be able to service Middle Tennessee's numerous general contractors, granite fabricators, concrete contractors, stonemasons, tile contractors and other construction professionals. The expansion will also position the company to take advantage of the large amount of government infrastructure spending in the state of Tennessee.

 

AGR Stone & Tools USA, Inc.'s entry into the Tennessee market represents an important step in achieving the expansion objectives the company has outlined for 2009. Its growing list of distribution centers throughout North America now consists of a network of 22 distribution outlets in 15 states and provinces in the United States and Canada.

 

As the only major manufacturer of diamond tools that markets and distributes its products directly to customers, AGR Stone & Tools USA, Inc. has a major advantage over its competition. By selling directly, its goal is to control a quarter of the approximately $8 billion North American diamond tool market. "As our distribution network continues to grow, that goal is becoming more and more a reality," noted Rock Rutherford, the CEO of AGR Stone & Tools USA, Inc.

 

ABOUT AGR STONE & TOOLS USA, INC.

 

AGR Stone & Tools USA, Inc. is a major supplier of diamond tools and adhesives. It specializes in producing consumable tools for the natural stone, engineered stone, concrete and masonry industries. Its goal is to provide its clients with superior quality products, excellent customer service and the most competitive prices in the diamond tool industry. The company has completed extensive research and testing, and uses the latest technologies to assure AGR Tools is at the forefront of the diamond tool industry. The company employs some of the world's top scientists, engineers and metallurgists to produce the highest quality diamond tools for the construction industry.

 

On October 29, 2009, AGR Tools, Inc. and AGR Stone & Tools USA, Inc. entered into a binding share exchange agreement. See AGR Tools, Inc.'s Current Report on Form 8-K filed on November 2, 2009 regarding the new share exchange agreement with AGR Stone & Tools USA, Inc. for details on various conditions which must be met before the share exchange between the two companies closes. There can be no assurance that the share exchange will close. AGR Tools, Inc must issue 46,186,516 shares of its common stock to the current shareholders of AGR Stone & Tools USA, Inc. in order to complete the share exchange. Accounting for the anticipated cancellation of 25,000,000 shares of its common stock, upon the closing of the share exchange AGR Tools, Inc. will have 81,186,516 shares of common stock issued and outstanding.

 

GEN2MEDIA CORPORATION (OTCBB: GTWO)

"Up 12.90% in morning trading"

 

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

 

Company Profile: http://www.otcpicks.com/Newsletter/GTWO_102809.html

 

Gen2Media is a fully integrated technology, production and marketing company whose proprietary and patent-pending technology has earned the trust of a growing, globally diversified customer base, comprised of leading media companies, corporations, chart-topping artists, entertainment companies, advertising agencies and national brands such as The Black Eyed Peas, Mary J. Blige, Britney Spears, Justin Timberlake, Microsoft Xbox LIVE, Coca-Cola Company, Toyota, Clear Channel, and others.

 

GTWO News:

 

December 17 - Gen2Media's Online Video Platform Used to Launch College and High School Cheerleading Competitions on Varsity.com

 

Grants Advertisers Access to Million+ Students from 46,000 High Schools and Colleges

 

Gen2Media Corporation (OTCBB: GTWO), an innovative full service video technology and production company, announces the recent launch of the brand new Cheer & Dance Competitions section of Varsity TV on Varsity.com using the Version 2 release of Gen2Media’s Online Video Platform. The site features over 20,000 cheerleading championship and competition videos enabling fellow students, friends and family to watch the largest cheerleading and dance competitions nationwide. Routines from select Varsity Championships can now be immediately uploaded by Varsity TV.

 

The national sponsors onboard for 2010 will be joining the likes of Universal Hollywood, music labels, and other companies who are looking for ways to reach influential teens and college age consumers. Forrester Research has found that more than 60% of teens ages 15 to 17 will remain with their bank after they graduate from high school and recommend that bank to friends. This and other studies make the teenage group the perfect audience for any company looking to create loyal lifetime customers, and the best brands to advertise on Varsity TV.

 

Since the launch of the Competitions page on Varsity.com, some single channels have seen more than 125,000 views in a single day, making the site on track to exceed 3.3 million monthly views.

 

“Video page skinning, social media integration, complete channel sponsorship, and in-stream and traditional advertising units together offer truly impactful and integrated opportunities. 9/10 of the students that participate in Varsity programs go on to college and have a higher GPA than the average student. Cheerleaders are trendsetters and thought leaders in their schools. By targeting this highly influential group, companies are using powerful brand ambassadors that their peers look up to. Advertisers are craving this chance to reach the million+ students from 46,000 High Schools and Colleges. Varsity TV represents unprecedented access to this market,” states Mary Spio, Co-Founder and President of Gen2Media.

 

Varsity TV was launched on the Version 2 release of Gen2Media’s Online Video Platform. Version Two has various capabilities that set it apart from other platforms, notably the player theme creator which enables a much deeper level of customization. Additionally, the Gen2Media Online Video Platform features a full advertising suite that also allows third party scheduling, trafficking, and monitoring providing a wholly integrated video experience. Other advanced delivery capabilities include Gen2Media’s enhanced time of day programming, channel syndication, and central content and advertising management across multiple publishers via the Enterprise version of the Online Video Platform. Gen2Media’s Online Video Platform is poised to be the first and only solution for scheduling video from one globally accessible interface delivered across all major mediums.

 

For more information visit www.Gen2Media.com or www.Varsity.com.

 

LUX ENERGY CORPORATION (OTCBB: LUXED)

"Up 9.09% in morning trading"

 

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

 

Company Profile: http://www.otcpicks.com/lux-energy-corp/lux-energy-corp.htm

 

Lux Energy Corp. is an oil and gas production and exploration company focusing on developing oil and gas resources in North America. Further information and news releases are available at www.luxenergycorp.com.

 

LUXED News:

 

December 16 - Lux Energy Corp Enters Into Negotiations for Participation in Significant Natural Gas Prospect

 

Lux Energy Corp. (OTCBB: LUXED), an oil and gas production and exploration company, announced that it has entered into negotiations to participate in significant natural gas prospect in South Eastern Alberta. Lux is seeking an agreement for a 50% working interest in eight development NG leases in the sweet gas rich areas of Medicine Hat.

 

Southern Alberta gas plays have produced thousands of wells over the past several decades. This area is historically famous in oil and gas circles for low cost, high BTU content reservoirs in the Milk River and Medicine Hat geological formations. The arena of petroleum spans 10,000 square kilometers of Sandstone Geology starting at the Foothills and stretching into Saskatchewan.

 

The prospect will involve a drilling program of 20 to 30 wells per section drilled to depths of 800 meters. Reservoir life is estimated at between 13 to 30 years. The project has outstanding economies. Wells can be drilled, completed and tied into established gathering, processing and delivery infrastructure within 30 days. In addition, the joint venture operator advises that recent technical advances in this play have increased potential recoveries and increased production.

 

Shane Broesky, President of Lux Energy Corp, comments, "Medicine Hat is an exceptional opportunity which became available with our partners in other areas. Medicine Hat, Central Alberta, Northern B.C. and Oklahoma are all on the screen. We intend to take advantage of the recent upsurge in NG prices. Recent acquisitions by petroleum super majors indicate very strong future natural gas products."

 

Lux Energy Corp. is an oil and gas production and exploration company focusing on developing oil and gas resources in North America. Further information and news releases are available at www.luxenergycorp.com.

 

SAN WEST INCORPORATED (OTCBB: SNWT)

 

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

 

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

 

San West designs, manufacturers, sells and repairs off-road buggies, and additionally provides aftermarket performance products and accessories for off-road buggies; products are sold via three divisions: at retail store locations; via the online store and; through its growing dealer network. Buggy repair services are sold and fulfilled at the Santee California retail location.

 

SNWT News:

 

December 29 - San West Inc. Releases Significant Milestones for 2009 and 2010 Outlook

 

Management Reflects on a Transformational 2009; Outlines Aggressive Growth Initiatives for 2010

 

San West Inc. (OTCBB: SNWT), an emerging leader in the design, manufacture, sales and repair of off-road recreational vehicles, provides a business update and reiterated its expectation that 2010 will be another transformational year as the company pushes forward with plans to become a leading global off-road sports producer and retailer.

 

2009 Business Review

 

Operational Developments:

 

* Entered the public marketplace via reverse merger with Human Bio-Systems, Inc. in early June and began trading on the OTC Bulletin Board under the symbol HBSY, and changed corporate name and ticker change to San West Inc. and SNWT in late September.

 

* Launched a new and improved Buggy World website equipped with an e- commerce store to further expand our market reach and broaden our offering and purchasing options for customers.

 

* Became the exclusive TrophyKart dealership for San Diego County in an agreement expected to generate between $150,000 to $250,000 in annual sales and drastically boost and improve brand notoriety, particularly among the younger demographic.

 

* Partnered with CountyImports.com, the second-largest online retailer of off-road vehicles and accessories, in an agreement expected to add at least $3,200,000 in annual revenues to San West's top line and offset the seasonality of our sales levels.

 

* Subsequently launched an enhanced version of CountyImports.com and announced that sales generated through the website between 11/17/08 and 12/18/09 were approximately $150,000, higher than the corresponding period of 2008, a record year for CountyImports.com.

 

* Reported revenues for the third quarter of $217,099, an increase of 53.4% and gross profits or $146,336 , representing a gross profit margin of 26.8%.

 

* Announced that fourth quarter 2009 will by far be the greatest in corporate history.

 

* Established a promotional credit program — “The RPM Card” — to help offset the negative impact of the consumer credit meltdown by providing financing to customers with less than stellar credit ratings.

 

* Acquired non-exclusive sales & marketing rights for leading off-road sporting brands including Fox Racing, Joiner, and Thor.

 

Market-Related Developments:

 

* Share price has surged from less than one cent to a 52-week high of $1.71 on 10/12 ($0.35 split adjusted).

 

* Executed a 5 for 1 forward stock split in November of 2009 with the intent of strengthening shareholder value by facilitating increased trading among retail investors.

 

* Secured $10,000,000 in equity financing from an institutional investor during December which will enable San West to more aggressively pursue synergistic acquisitions.

 

* Announced a consulting agreement with Hayden IR, a leading North American investor relations firm with a proven track record of transforming micro- cap firms into NYSE and Nasdaq-traded companies.

 

2010 Outlook

 

1) 2010 will be another transformational year for San West Inc. During 2009, San West launched a number of strategic initiatives that helped lay the foundation for a premier international off-road sports firm and positioned the company to generate annual revenues in the $6,000,000 to $8,000,000 next year. We strongly believe that our continued relentless pursuance of opportunities that hold the potential to drive growth — both organically and via acquisition — during 2010 will help boost annual revenues above initial expectations.

 

2) We recently obtained $10,000,000 in equity financing which provides an ideal complement to our extremely successful and assiduous expansion initiatives. This capital injection will allow San West to grow our business in ways that were quite recently unimaginable. Corporate/competitor buyouts, major real estate acquisitions, massive advertising investments, expensive product and service development, and sponsorship of major industry events are all now economically feasible to some extent.

 

3) We are building a one-stop off-road sports superstore, both online and at our first Buggy World brick & mortar location — and will continue to pursue business ventures that will help broaden our global consumer reach. A few potential avenues for near-term expansion include but are not limited to fortifying existing online sales infrastructure, establishing additional retail locations in "hot" off-road markets, and expanding into new product markets such as personal watercraft (PWC) and motorcycles.

 

4) From a stock market perspective, our share price has matured significantly over the past 6 to 12 months. We have aligned our organization with some of the most highly esteemed financial services organizations in the world to help create shareholder value, provide maximum transparency into our operations, to articulate our unique value proposition and relay our growth story to the masses, and establish a line of communication to institutional investors.

 

5) At this point, we would like to thank our faithful shareholders for their interest in 2009 and reiterate our dedication to making 2010 another lucrative year for them and San West Inc. together. We wish everyone a very happy holiday season and a prosperous new year and also look forward to updating the public on our material developments as they arise.

 

December 28 - San West Inc. CEO Interviewed by Stockgoodies.com

 

Radio Interview Discusses Growth Strategy and Strategic Progress to Date in Effort to Build Global Off-Road Motorsports Leader

 

San West Inc. (OTCBB: SNWT), an emerging leader in the design, manufacturing, sales and repairs of off-road buggies, announced the availability of a recent interview conducted with President & CEO Frank Drechsler. Stockgoodies.com, a G6 Stocks community, conducted the interview and posted it on its homepage at www.stockgoodies.com.

 

Frank Drechsler, San West Inc. Chief Executive Officer, stated, "San West continues to benefit from increased media attention, due in large part to our consolidation of the outdoor and off-road racing industry as well as our projected growth for the fourth quarter and 2010. We have made tremendous progress in our efforts to create a one-stop-shop for all off-road motorsports enthusiasts, including buggies, scooters, ATVs and personal watercraft. We are excited for our prospects as we look into 2010 and beyond and we are eager to share our vision and discuss our progress with investors."

 

BIOMAGNETICS DIAGNOSTICS CORPORATION (OTC: BMGP)

 

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

 

Company Profile: http://www.otcpicks.com/biomagnetics-diagnostics/biomagnetics-diagnostics.htm

 

Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. The Company's revolutionary diagnostic systems, which are based on advanced magnetics, test for any viral or bacterial disease using any body fluid. The Company's technology allows laboratories to perform far more tests in the same amount of time it takes to do a single test. The HTS-MTP platform is designed to detect the actual virus and viral load in body fluids and not just simply screen for the presence of viral antibodies.

 

BMGP News:

 

December 28 - Biomagnetics to Become Fully Reporting; CEO Comments on Corporate Growth Plans and Strength of Balance Sheet

 

Biomagnetics Diagnostics Corp. (OTC: BMGP), a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, and malaria detection, announced it is instituting several actions to become a fully reporting organization, improve transparency to investors and migrate the trading of its common shares to the over-the-counter market. Additionally, corporate management is expressing confidence in achieving growth objectives for 2010.

 

“With the growth we expect during 2010 it will be important for us to provide full transparency to our investors and other stakeholders," commented Clayton Hardman, CEO of Biomagnetics Diagnostics. “Toward this aim, we have begun implementing plans to complete a full financial audit and to file these audit results with both Pink OTC Markets, Inc. and the Securities and Exchange Commission. We expect these actions to allow us to not only become a fully reporting organization, but also to make us eligible to trade our shares on the OTC market.

 

These actions include the completion of a full financial audit and the filing of financial disclosure information with Pink OTC Markets Inc. and the U.S. Securities and Exchange Commission. Additionally, the Company will be working with several broker-dealers on Rule 15c2-11 documentation for submission to FINRA in order to receive OTCBB quotation clearance.

 

“Our balance sheet remains very strong with a meaningful cash balance and minimal debt. We have been able to accomplish this with only very minimal fund-raising activities. This has allowed us to keep the number of total outstanding shares at only approximately 64 million. While we do not anticipate the need to raise growth capital, as our working capital balances are already robust, it is very comforting for us to have the strong backing of our shareholders, many of whom are eager to provide us additional growth capital should it be required. Simply put - our financial position is very strong, which will allow us to aggressively implement our growth strategies. With a total market capitalization of approximately $9 million, we believe our common shares are significantly undervalued.”

 

“Mr. Hardman continued, “While we realized significant accomplishments in the last four months of 2009, we expect the acceleration of developments in the first half of 2010. During the first quarter, we expect to enter into several certifications in China, India and Africa, which we believe will clearly demonstrate the superiority of our technology and testing cost profile relative to the inferior solutions currently available in today's market. In the first half we expect to expand upon our groundbreaking agreement with Los Alamos National Security, commercialize the integrated optical biosensor technology for the detection of cholera, malaria, tuberculosis and HIV/AIDS, in addition to accelerating development of the technology that will enable multiple detections from a single sample. We are clearly very excited about where Biomagnetics Diagnostics is headed during 2010.”

 

According to the World Health Organization, some 3.2 billion people, or about half the world's population is at risk of malaria transmission in 107 countries and territories worldwide. While there are between 350 million and 500 million new cases of malaria each year, there are very few reliable and field deployable diagnostic tools available. In the case of malaria, early detection substantially improves treatability and survivability. Field deployable Integrated Optical Biosensor Systems (IBOS), such those Biomagnetics Diagnostics is planning to soon introduce hold the promise to significantly speed the diagnostic testing process and to meaningfully lower costs and improve lives.

 

LANDSTAR INCORPORATED (OTC: LDSR)

"Up 87.50% in morning trading"

 

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

 

LandStar, Inc. operates as a polymer redeployment and polymer reactivation company. Through its majority owned subsidiary, Rebound Rubber Corporation, the company develops certain technology rights for the recycling of rubber. It also, along with its subsidiary PolyTek Rubber & Recycling, Inc., produces crumb rubber using reduction technologies, including ambient grind, cryogenic, and wet grind systems. LandStar also maintains exclusive North American rights to a proven devulcanization technology, which fundamentally changes the way recycled rubber is used. This technology creates a new raw material, Activated Modified Rubber, which may be compounded with natural and synthetic rubber or used directly in new vulcanized products.

 

LDSR News:

 

December 21 - Landstar Inc. Competes for a Large Project in Dongguan

 

Landstar Inc.'s (OTC: LDSR) subsidiary Hubei Chuguan Industrial Co. Ltd.'s representative met with representatives of Jinming Yongan Oil Depot in Dongguan City and submitted a tender for a multimillion project.

 

Hubei Chuguan Marketing Director met with the Chief Engineer of the Jinming Yongan Oil Depot in Dongguan City, as the oil depot started accepting tenders for the oil and gas recovery technology. The depot's Chief Engineer said that Hubei Chuguan technology and the company's solid portfolio show good prospects and make them highly competitive in the oil and gas recovery market.

 

The Jinming Yongan Oil Depot annual sales reach about 100, 000 cubic meters of gas annually, and if Hubei Chuguan acquires this project, it would be one of the major projects for Hubei Chuguan in 2010.

 

Marketing Director of Hubei Chuguan, Long Zegui, said, "This is a project of enormous proportions. Our technology is well competitive, and we'll do our best to get this project under our wings. If we obtain this project, 2010 will be our best year thus far. The price of this project is also considerable, we are talking a project well above $10 million US."

 

Hubei Chuguan Industry Co. Ltd., a subsidiary of LandStar Inc., provides recycling solutions on settlement and reconstruction for oil and gas. With the technologies of Nippon Oil Corporation at its core, Hubei Chuguan Industry Co. Ltd. purchases parts and assembles these recycling units in China.

 

TRITON DISTRIBUTION SYSTEMS INCORPORATED (OTC: TTDZ)

"Up 80.56% in morning trading"

 

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

 

Miller Energy Resources is a high-growth oil and natural gas exploration, production and drilling company operating in multiple exploration and production projects in North America. Miller's focus is in Cook Inlet, Alaska and in the heart of Tennessee's prolific and hydrocarbon-rich Appalachian Basin. Miller is a Tennessee registered company that has been in existence for over 40 years and been publicly traded for 12 years. It is the largest owner/operator of oil and gas wells in Tennessee with over 602 wells, over 54,500 net acres of lease holdings in Tennessee and 602,000 net acres in Alaska. Company chairman, Deloy Miller has a successful oil and gas track record spanning more than forty years in the Tennessee Basin. Since 1967, Miller has drilled and/or serviced over 5,200 wells. Miller is one of the United States premier energy companies and is using its strategy of opportunistic growth combined with prudent development and management of exiting assets to maximize value for its shareholders. Miller is headquarters in Huntsville, Tennessee with offices in Knoxville and New York City.

 

TTDZ News:

 

November 24 - Triton Announces Today the Completion of Its Automated Instant Language Translation System

 

Triton Distributions Systems Inc. (OTC: TTDZ) announces the completion of its automated instant language translation system. This enhancement to its already technologically superior travel industry database delivery systems allow Triton to continue to aggressively pursue expansion of its international travel industry reservation platform.

 

According to Gregory Lykiardopoulos, CEO of Triton, "This new language translation capability incorporated into our database system is a technological revolution for both the travel professional as well as the traveler. We can now instantly change languages for both electronic information and printed documents as, and when, needed for anyone, anytime they use our systems."

 

About Triton Distribution Systems: Triton Distribution Systems is a pioneer in low-cost, business-to-business, Internet-based travel distribution and procurement solutions. Triton provides the electronic distribution of travel inventory from airlines, car rental companies, hotels, tour and cruise operators, and other travel vendors to travel agencies and their clients on a global basis. Triton's proprietary products and services fill crucial needs in the travel industry, and offer product, pricing, and marketing advantages. Triton has developed a broad-based suite of products, including ReservationExpert®, TritonTwist® and Red Dragon Express® — the world's first distribution gateway to the Chinese market.

 

CYCLACEL PHARMACEUTICALS INCORPORATED (NASDAQ: CYCC)

"Up 23.60% in morning trading"

 

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

 

Cyclacel is a biopharmaceutical company dedicated to the discovery, development and commercialization of novel, mechanism-targeted drugs to treat human cancers and other serious disorders. Three orally-available Cyclacel drugs are in clinical development. Sapacitabine (CYC682), a cell cycle modulating nucleoside analog, is in Phase 2 studies for the treatment of acute myeloid leukemia in the elderly, myelodysplastic syndromes and lung cancer. The Company plans to submit a Special Protocol Assessment (SPA) request for a pivotal study with sapacitabine during the first quarter of 2010. Seliciclib (CYC202 or R-roscovitine), a CDK (cyclin dependent kinase) inhibitor, is in Phase 2 studies for the treatment of lung cancer and nasopharyngeal cancer and in a Phase 1 trial in combination with sapacitabine. CYC116, an Aurora kinase and VEGFR2 inhibitor, is in a Phase 1 trial in patients with solid tumors. Cyclacel's ALIGN Pharmaceuticals subsidiary markets directly in the U.S. Xclair® Cream for radiation dermatitis, Numoisyn® Liquid and Numoisyn® Lozenges for xerostomia. Cyclacel's strategy is to build a diversified biopharmaceutical business focused in hematology and oncology based on a portfolio of commercial products and a development pipeline of novel drug candidates.

 

CYCC News:

 

December 30 - Cyclacel Announces Publication of Peer-Reviewed Journal Article Describing the Mechanism of Action of Seliciclib

 

Seliciclib's Down-Regulation of the Mcl-1 Protein Highlighted

 

Cyclacel Pharmaceuticals, Inc. (Nasdaq: CYCC) (Nasdaq: CYCCP) announced the publication of an article that reviews and discusses the company's seliciclib (CYC202 or R-roscovitine) product candidate, an orally available inhibitor of multiple cyclin-dependent kinases (CDKs) and its mechanism of action. The peer-reviewed article, "Cyclin-Dependent Kinase Inhibitors as Anticancer Drugs" was published in the online edition of Current Drug Targets.

 

"The publication sets out the body of evidence that seliciclib is a promising anti-cancer agent that promotes cancer cell death by down-regulation of key proteins, such as p53 and Mcl-1, associated with survival of cancer cells," said Professor David Glover, Ph.D., Cyclacel's Chief Scientist. "A broader therapeutic role for CDK inhibitors in chronic proliferative diseases in addition to cancer has continued to emerge. Recently published evidence suggests that seliciclib promotes apoptosis of uncontrolled white blood cells, including neutrophils and eosinophils, also by down-regulation of Mcl-1. This is a novel finding with promising implications for the treatment of autoimmune and inflammatory conditions, including asthma. It builds upon previously published data showing seliciclib activity in lupus nephritis, polycystic kidney disease, pulmonary fibrosis and rheumatoid arthritis. We look forward to highlighting these non-oncology indications, unveiling Cyclacel's next-generation CDK inhibitors, and reviewing our promising pipeline programs at a Company-sponsored analyst day in 2010."

 

Poor therapeutic outcomes and serious side effects are common problems of current cancer therapies. Acquired drug resistance is a further major emerging problem as cancer cells learn to evade the activity of anti-cancer drugs by expressing proteins, such as Mcl-1, that make them immortal. The urgent need for new cancer-targeted drugs that can overcome resistance has led to the development of molecules that specifically inhibit CDKs.

 

The Current Drug Targets article reports the development of CDK inhibitors and their anti-cancer activities, with special attention to the mechanism of action of multi-kinase CDK inhibitors, including Cyclacel's seliciclib, currently in Phase 2 clinical trials as a treatment for various cancers. The ability of CDK inhibitors to suppress transcription and sensitize certain cancer cells to apoptosis by down-regulating the expression of the Mcl-1 protein and their synergy in combination with common DNA damaging anti-cancer drugs are also discussed. Citation: Krystof V, Uldrijan S., Cyclin-Dependent Kinase Inhibitors as Anticancer Drugs, Curr Drug Targets. 2009 Dec 23. [Epub ahead of print].

 

Recently scientists from the Centre for Inflammation Research at the University of Edinburgh published preclinical evidence that seliciclib may be a promising treatment for asthma. They studied the effects of the drug on immune cells of the respiratory system known as eosinophils which help the body fight off infections. Uncontrolled proliferation of eosinophils can damage other cells that line lung tissues and thus contribute to inflammatory conditions such as asthma. Researchers found that exposure to seliciclib caused proliferating eosinophil cells to undergo apoptosis or programmed cell death by down-regulating the expression of the Mcl-1 protein. Citation: Duffin R, et al., The CDK inhibitor, R-roscovitine, promotes eosinophil apoptosis by down-regulation of Mcl-1, FEBS Lett. 2009 Aug 6;583(15):2540-6.

 

ABOUT SELICICLIB

 

Seliciclib is an orally available molecule that selectively inhibits multiple CDK enzyme targets, CDK2/E, CDK2/A, CDK7 and CDK9, that are central to the process of cell division and cell cycle control. Seliciclib has been administered to approximately 450 patients in Phase 1 and Phase 2 trials. It is currently being evaluated in the APPRAISE trial, a Phase 2b randomized double-blinded study as a treatment in patients with non-small cell lung cancer (NSCLC) who failed at least two prior therapies and in a randomized Phase 2 study as a single agent in patients with nasopharyngeal cancer.

 

LUNA INNOVATIONS INCORPORATED (NASDAQ: LUNA)

"Up 19.66% in morning trading"

 

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

 

Luna Innovations Incorporated develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets. Through its disciplined commercialization business model, Luna has become a recognized leader in transitioning science to solutions. Luna is headquartered in Roanoke, Virginia. Luna’s nanoWorks division, located in Danville, Virginia, is developing pharmaceutical products empowered by nanomaterials with applications in diagnostics and therapeutics. Luna’s exclusive carbon nanomaterials offer unique physical, chemical, thermal, magnetic, biological, optical and electronic properties that can be tailored to customer needs.

 

LUNA News:

 

December 29 - Luna Strengthens its Position in Nanomedicine

 

Tego Biosciences is acquired by Luna Innovations

 

Luna Innovations Incorporated (Nasdaq: LUNA) has acquired certain intellectual property assets of Tego Biosciences, its main competitor in developing medicines based on carbon nanomaterials. Tego Biosciences, Inc. is a wholly owned subsidiary of Arrowhead Research Corporation (Nasdaq: ARWR). This acquisition integrates the patent assets of the two leading companies and provides Luna a dominant intellectual property portfolio in carbon nanomaterial-based pharmaceuticals.

 

“We are pleased to add Tego’s portfolio of intellectual property to enhance our exciting program in nanomedicines,” stated Dr. Kent Murphy, Chairman and CEO of Luna Innovations. “The acquisition of Tego’s fullerene assets for use in pharmaceuticals demonstrates Luna’s continued commitment to novel therapeutics using carbon nanomaterials to treat a variety of inflammatory diseases that address significant markets such as arthritis, allergies and asthma. In addition, Luna’s technology is being used to improve diagnostic imaging by developing agents targeted to reveal brain cancer and plaque on arterial walls.”

 

With this acquisition, Luna’s intellectual property portfolio for carbon nanomaterials now includes seven owned patents, 10 licensed patents and 44 U.S. and foreign applications. In addition, Luna acquired the research programs Tego has sponsored in radiation protection, anti-viral therapies and macular degeneration, the leading cause of blindness in the elderly. Luna also acquired Tego’s license to The Bronx Project (TBP), a program for developing new medicines based on carbon nanomaterials for Parkinson’s and other neurodegenerative diseases. As a result of this transaction, Luna and Tego will equally share in the net proceeds from activities related to the TBP license.

 

Luna has had an ongoing program to identify novel therapeutic candidates based on the unique properties of carbon nanospheres since 2003. These nanospheres, called buckminister fullerenes, must be chemically modified to make them compatible with living tissues. During this work, Luna has made a number of discoveries, funded in part by government contracts and awards. Luna’s business strategy for developing pharmaceutical products is to form partnerships with established companies to underwrite the expensive development programs.

 

“Tego accrued the combined fruits of most of the pioneering research on fullerene therapeutics that have been discovered over the last decade. Combining these assets with our own discoveries provides Luna with extensive intellectual property covering therapeutics based on carbon nanomaterials,” said Dr. Robert Lenk, President of Luna’s nanoWorks Division based in Danville, VA. “Our combined patent portfolio consists of 61 patents and pending applications covering classes of fullerene derivatives, methods for synthesizing these compounds and treatments for specific diseases. This acquisition strengthens our position in carbon nanomaterial-based nanomedicines and opens additional markets to attract potential partners as we move forward.”

 

MPHASE TECHNOLOGIES INCORPORATED (OTCBB: XDSL)

"Up 20.28% in morning trading"

 

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

 

mPhase Technologies, Inc. is focused on developing and commercializing a new battery technology featuring Power On Command™ which provides a unique way to store energy and manage power that will revolutionize the battery industry. mPhase, through its 100% owned consumer products division mPower Technologies, is marketing its first Power On Command product, the mPower Emergency Illuminator.

 

XDSL News:

 

December 30 - mPhase to Unveil First Consumer Product Driven by Power On Command™ Reserve Battery Technology

 

* 2010 International Consumer Electronics Show in Las Vegas, Nevada Sets the Stage for Debut of mPower Emergency Illuminator™

* Product Awarded CES Design and Innovation Honors

 

mPhase Technologies, Inc. (OTCBB: XDSL), the global leader in the development of Power On Command™ reserve battery technology, announced that its consumer products division, mPower Technologies Inc., will unveil the mPower Emergency Illuminator™ at the 2010 International Consumer Electronics Show in Las Vegas, Nevada. The Emergency Illuminator will be shown during the CES Unveiled media event on January 5, 2010 as well as on press day, January 6, 2010. The illuminator will subsequently be on public display at CES from January 7-10, 2010.

 

Designed by Porsche Design Studio of Zell am See, Austria, and manufactured by MKE of Austria, the mPower Emergency Illuminator is a precision instrument with a powerful 180 Lumens LED and two separate battery tubes. One tube is for everyday use and holds two CR123 batteries, while the other tube holds mPhase's Power On Command™ Reserve Battery. If the regular CR123 batteries run down, the Reserve Battery takes over -- even after laying idle for 20 years. The Emergency Illuminator also features a USB port, that can be used for charging portable devices such as a cell phone.

 

"The mPower Emergency Illuminator is a precision engineered tool," said Ron Durando, CEO of mPhase Technologies. "It is the first product to put our Power On Command reserve battery technology into the hands of the consumer. The extraordinarily long shelf life of the reserve battery guarantees users a reliable source of power when they need it most."

 

mPhase Technologies has been named an International Consumer Electronics Show Innovations 2010 Design and Engineering Awards honoree. The Company expects the mPower Emergency Illuminator to become available for purchase in January 2010 with delivery in March 2010 and to retail at a price of $289.00.

 

A universal glove box bracket will also be available for $29.99, allowing for easy mounting in most automobile glove compartments.

 

LA JOLLA PHARMACEUTICAL COMPANY (NASDAQ: LJPC)

"Up 21.15% in morning trading"

 

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

 

La Jolla Pharmaceutical Company is dedicated to improving and preserving human life by developing innovative pharmaceutical products. The Company's leading product in development is Riquent®, which is designed to treat lupus renal disease by preventing or delaying renal flares. Lupus renal disease is a leading cause of sickness and death in patients with lupus. The Company has also developed potential small molecule drug candidates to treat various other autoimmune and inflammatory conditions.

 

LJPC News:

 

December 22 - La Jolla Pharmaceutical Company Announces Filing of Joint Proxy Statement/Prospectus

 

La Jolla Pharmaceutical Company (Nasdaq: LJPC) (“La Jolla”) announced that it has filed its Registration Statement on Form S-4 with the Securities and Exchange Commission (“SEC”) in connection with its proposed merger with Adamis Pharmaceuticals Corporation (“Adamis”). The definitive merger agreement was entered into on December 4, 2009 and closing of the merger is subject to certain closing conditions, including approval by the stockholders of La Jolla and Adamis. Adamis stockholders holding approximately 35% of the outstanding common stock of Adamis have agreed to vote in favor of the merger, which is currently expected to close by the end of the first quarter of 2010. If the merger is consummated, La Jolla’s name will be changed to Adamis Pharmaceuticals Corporation.

 

The Registration Statement contains detailed information regarding the merger, including answers to the following frequently asked questions:

 

Q: What is the transaction?

 

A: The transaction is the merger of La Jolla’s wholly-owned subsidiary, Jewel Merger Sub, Inc., with and into Adamis, with Adamis surviving the merger as a wholly-owned subsidiary of La Jolla. As a result, Adamis stockholders will be entitled to have their shares of Adamis common stock converted into shares of La Jolla common stock and will obtain a controlling stake in La Jolla after the closing of the merger.

 

Q: Why are the two companies proposing to merge?

 

A: The combined company resulting from the merger will be a specialty pharmaceutical company that has recently launched its first significant product, has several product candidates in late stage development and will be led by an experienced senior management team from Adamis. The merger provides La Jolla with a product pipeline and provides Adamis with the anticipated net cash from La Jolla to strengthen Adamis’ balance sheet and support Adamis’ commercialization and drug development activities.

 

Q: What is the reverse stock split and why is it necessary?

 

A: The reverse stock split is the combination of the outstanding shares of La Jolla common stock into a lesser number of shares immediately prior to the effective time of the merger. For example, the reverse stock split is expected to range between one-for-three and one-for-thirty. If the reverse stock split ratio is one-for-three, this means that every three shares of La Jolla common stock outstanding prior to the reverse split will be combined into one share of La Jolla common stock outstanding post-split; if the reverse stock split ratio is one-for-thirty, this means that every thirty shares of La Jolla common stock outstanding prior to the reverse split will be combined into one share of La Jolla common stock outstanding post-split.

 

The reverse stock split only affects the La Jolla stockholders and is necessary to adjust the number of shares owned by La Jolla stockholders so that they represent an agreed-upon percentage of the combined company, after giving effect to the fair value of the net assets that La Jolla is contributing to the combined company. At the effective time of the merger, existing La Jolla stockholders are expected to own between 5% and 30% of the combined company.

 

Q: How is the reverse stock split calculated?

 

A: The precise reverse stock split ratio will be determined based on the amount of La Jolla’s net cash as of the closing date of the merger, plus $750,000, divided by Adamis’ weighted average stock price prior to closing, subject to a variable discount, which in no event will yield a stock price that is less than $0.20 or greater than $1.50.

 

The estimated percentage ownership of the outstanding shares of common stock of the combined company that Adamis stockholders and current La Jolla stockholders would be expected to hold immediately following the closing of the merger, based on an assumed 45,972,303 outstanding Adamis shares and 65,722,648 outstanding La Jolla shares at the closing date of the merger, and reflecting the assumed high and low amounts of La Jolla Net Cash ($3.0 million (high) and $2.5 million (low), respectively) and different Adamis weighted average stock prices and related discounted stock prices.

 

Q: How many shares of common stock of the combined company would I own assuming that I currently own 100 shares of La Jolla common stock?

 

A: As a result of the proposed reverse stock split, immediately prior to the effective time of the merger, your 100 shares of La Jolla common stock would be reduced to a range expected to be between 3 and 33 shares of common stock of the combined company (depending on the reverse split ratio, which is expected to range between one-for-three and one-for-thirty). After your shares are subject to this reverse stock split, La Jolla will then issue new post-reverse split shares of La Jolla common stock to holders of Adamis common stock on a fixed one-for-one basis in connection with the merger.

 

Q: How many shares of common stock of the combined company would I own assuming that I currently own 100 shares of Adamis common stock?

 

A: As a result of the merger, immediately after the effective time of the merger, your 100 shares of Adamis common stock will be converted into 100 shares of La Jolla common stock (post-reverse stock split). The reverse stock split will have no impact on Adamis stockholders.

 

Q: What will happen to any options or warrants to acquire Adamis common stock in the merger?

 

A: In connection with the merger, Adamis warrant holders and option holders will have their Adamis warrants and options converted into warrants and options to purchase La Jolla common stock.

 

Q: Who will be the directors and executive officers of the combined company immediately following the merger?

 

A: Immediately following the merger, the board of directors of the combined company is expected to be composed solely of the members of the Adamis board of directors prior to the merger: Dennis J. Carlo, Ph.D., David J. Marguglio and Richard L. Aloi. Immediately following the merger, the executive management team of the combined company is expected to be composed solely of the members of the Adamis executive management team prior to the merger:

 

Q: What happens to La Jolla if the merger is not ultimately completed?

 

A: La Jolla will have limited cash resources, and if the merger with Adamis does not close, the La Jolla board of directors may elect to, among other things, attempt to complete another strategic transaction or wind down the business in a voluntary dissolution under Delaware law.

 

Q: When do La Jolla and Adamis expect to complete the merger?

 

A: La Jolla and Adamis are working to complete the merger during the first quarter of calendar year 2010, or as soon thereafter as reasonably possible. We must first obtain the necessary approvals, including, but not limited to, the approval of each company’s stockholders, and satisfy the closing conditions described in the merger agreement. We cannot assure you as to if or whether all the conditions to the merger will be met nor can we predict the exact timing of the closing of the merger or whether the merger will be completed at all.

 

Other Information

 

NASDAQ has informed La Jolla that the merger will constitute a change of control, which will require that La Jolla file a new listing application and demonstrate compliance with the NASDAQ new listing standards prior to the closing of the merger. At present, the combined company would not satisfy these standards. If these listing standards cannot be met prior to closing, the parties expect that La Jolla’s stock would be delisted and would then be quoted on the OTC Bulletin Board.

 

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

 

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