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VCG Holding Corp. (Nasdaq: VCGH) $1.86. Today announced that on November 9, 2010 it entered into a definitive Agreement and Plan of Merger with the Company's Chairman of the Board and Chief Executive Officer, Troy Lowrie, Family Dog, LLC, FD Acquisition Co., and the Company's President and Chief Operating Officer, Micheal Ocello, to acquire all of the outstanding common stock of the Company held by public shareholders for $2.25 per share in cash in a going-private merger transaction where FD Acquisition Co. would merge with and into the Company, with the Company surviving the merger. Family Dog, LLC and its wholly-owned subsidiary FD Acquisition Co. are currently owned and controlled by Mr. Lowrie.
Completion of the merger is subject to certain closing conditions, including approval by a majority of the Company's disinterested shareholders. Completion of the merger is not subject to financing or due diligence conditions. The transaction is expected to close in the first quarter of 2011. Upon the closing of the merger, VCG will no longer be a public reporting or trading company. It is expected that certain members of VCG's management will participate in the ownership of the Company following the closing of the merger.
What They Do: VCG Holding Corp. is an owner, operator, and consolidator of adult nightclubs throughout the United States.
China Medical Technologies (Nasdaq: CMED) $11.81. Today announced that it has received approval for its real-time PCR-based Epidermal Growth Factor Receptor Assay for the use of lung cancer targeted drugs from the State Food and Drug Administration of China.
The EGFR PCR Assay is used for the detection of the 28 most common somatic mutations in the EGFR gene of patients with non-small cell lung cancer and provides a qualitative assessment of mutation status to determine the use of lung cancer targeted drugs for patients.
What They Do: China Medical Technologies, Inc. is a leading China-based advanced IVD company using molecular diagnostic technologies including Fluorescent in situ Hybridization (FISH) and Surface Plasmon Resonance (SPR) and an immunodiagnostic technology, Enhanced Chemiluminescence Immunoassay (ECLIA), to develop, manufacture and distribute diagnostic products used for the detection of various cancers, diseases and disorders as well as companion diagnostic tests for targeted cancer drugs.
Sunesis Pharmaceuticals (Nasdaq: SNSS) $0.31. Today announced updated data from Phase 2 clinical trials of the Company's lead drug candidate, vosaroxin, in combination with cytarabine, a widely used chemotherapy, in relapsed/refractory acute myeloid leukemia (AML) and as a single agent in frontline elderly AML. The data were presented today by Robert Stuart, M.D., Professor of Medicine, Division of Hematology/Oncology, Department of Medicine, Medical University of South Carolina, at the Chemotherapy Foundation Symposium XXVIII in New York City.
For the fully enrolled relapsed/refractory AML study, a total of 69 patients with first relapse or primary refractory AML have been treated at doses of 80 to 90 mg/m(2) of vosaroxin, in combination with bolus or continuous infusion cytarabine. Consistent with results presented at the American Society of Clinical Oncology (ASCO) Annual Meeting, vosaroxin achieved clinically meaningful complete remission rates balanced with low all-cause early mortality. Preliminary leukemia free survival, measured as time from complete remission to relapse or death, is now 14.4 months (440 days). Median overall survival was 7.1 months, with 14 patients continuing in survival follow up well beyond this median.
What They Do: Sunesis is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of solid and hematologic cancers.
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