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XOMA Ltd. (Nasdaq: XOMA) $0.56. Today announced results demonstrating that a murine equivalent of XOMA 052, its novel, high-affinity antibody to interleukin-1 beta (IL-1 beta), significantly reduced adverse consequences that usually lead to the development of congestive heart failure in a mouse model of acute myocardial infarction (heart attack). The results were presented today at the American College of Cardiology 59th Annual Scientific Sessions in Atlanta.
In the study, mice were randomly assigned to treatment with one of three doses of a murine equivalent of XOMA 052, a control antibody or saline immediately after surgery and again seven days later. Treatment with the two higher doses of XOMA 052 resulted in statistically significant improvements in measurements of left ventricular cardiac function including the ability to pump blood, which is related to an individual's chance of developing congestive heart failure. No signs of cardiac toxicity were observed.
What They Do: XOMA discovers, develops and manufactures novel antibody therapeutics for its own proprietary pipeline as well as through license and collaborative agreements with pharmaceutical and biotechnology companies, and under its contracts with the U.S. government.
BioSante Pharmaceuticals, Inc. (Nasdaq" BPAX): $1.82. Today announced BioSante’s receipt of Orphan Drug designation from the FDA’s Office of Orphan Products Development for GVAX Pancreas Vaccine in the treatment of pancreatic cancer.
“The Orphan Drug designation of GVAX Pancreas Vaccine for the treatment of pancreatic cancer is BioSante’s first GVAX regulatory submission and response from the FDA since acquiring this portfolio of cancer vaccines last October,” said Stephen M. Simes, BioSante’s president & CEO. “It is our intention to find ways to continue the development of our GVAX Pancreas Vaccine using the benefits conferred by gaining Orphan Drug designation. Further, this designation alerts the FDA that we are dedicated to bringing better cancer therapy to patients in need. Currently, GVAX Pancreas Vaccine clinical trials are ongoing at the Johns Hopkins Sidney Kimmel Comprehensive Cancer Center. In addition, clinical trials of GVAX vaccines against many different cancer types are being conducted, including leukemia and breast cancer. We value our collaborative relationship with the researchers at the Cancer Center and intend to work with them to advance the development of these potentially life-saving therapies.”
What They Do: BioSante is a specialty pharmaceutical company focused on developing products for female sexual health, menopause, contraception and male hypogonadism.
KIT digital, Inc. (Nasdaq: KITD) $10.60. Yoday announced it has executed a definitive agreement to acquire privately-held Multicast Media Technologies, Inc. of Atlanta, Georgia for net consideration of approximately $18.0 million, comprised of $4.9 million in cash and 1.3 million shares of KIT digital common stock, plus the assumption of approximately $4.6 million in long-term liabilities.
Multicast is a recognized North American market leader in live event broadcasting, Internet video management and targeted multimedia communications. In 2009, nearly 1,000 organizations used Multicast's hosted solutions to broadcast 50,000 live events and serve more than 250 million video streams to a worldwide audience.
Multicast's clients include government, non-profit and faith-based organizations, as well as a number of Fortune 500 companies. Multicast derives an estimated $12 million in annualized recurring licensing fees for its IP video management software, with certain additional revenues related to professional services.
What They Do: KIT digital is a leading, global provider of on-demand, Internet Protocol (IP)-based video asset management systems (VAMS). KIT VX, the company's end-to-end software platform, enables enterprise clients to acquire, manage and distribute video assets across the three screens of today's world.
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