A Solid Start to 2011

Posted by Colleen Koski

January 5, 2011 at 10:11 AM

As we kick off the New Year, many companies within our Coverage Universe are showing a positive start to 2011. For example, Canadian biopharmaceutical company Bioniche Life Sciences Inc. (BNC-TSX) recently raised A$12.5 million in Australia. Biotechnology company Xoma Ltd. (XOMA-NASDAQ) signed a development and licensing agreement potentially valued up to $505 million for an anti-inflammatory drug candidate. In addition, Advanced Cell Technology, Inc. ([“ACT”] ACTC-OTC.BB), a regenerative medicine company, announced that the FDA has cleared its Investigational New Drug application (IND) to test a therapy made from embryonic stem cells in patients with macular degeneration, a leading cause of vision loss. Further, the Tel-Aviv Stock Exchange (TASE) approved the inclusion of Pluristem Therapeutics Inc.’s (PSTI-NASDAQ) ordinary shares on four TASE equity indexes: Tel-Tech, TA Composite, MidCap TA, and Biomed.

Xoma Ltd. On January 4, 2011, Xoma announced that it had signed a development and licensing agreement with the privately held French drug company Les Laboratoires Servier for the development of Xoma-052, which has potential to treat multiple inflammatory conditions. Xoma is retaining development and sales rights for Behcet’s uveitis (a condition involving inflammation of the eye) and other inflammatory and cancer indications in the U.S. and Japan, while Servier obtained similar rights in other countries worldwide. Per the terms of the agreement, Xoma may receive $35 million upfront and up to $470 million in additional milestone payments, along with royalties. Click here to read the full press release.

Bioniche Life Sciences Inc. On January 4, 2011, Bioniche announced that it successfully completed its Australian offer, raising gross proceeds of A$12.5 million. Within the past two months, the Company has raised total proceeds of C$29.4 million through its Australian offer as well as a Canadian offer that closed on December 16, 2010. Subject to the approval of the Australian Securities Exchange (ASX), Bioniche could be admitted to the Official List of the ASX, and the CHESS Depositary Instruments (CDIs) associated with the Australian offer could commence trading on the ASX in January 2011 under the ticker “BNC.” Bioniche may use the funds raised from both offers to expand its current manufacturing capacity for Urocidin™; pursue new human oncology applications; pursue a full license application in the U.S. as well as license applications in Australia, Europe, and Latin America; complete the development of a second food safety vaccine for Salmonella; and advance internally or externally developed animal health products/technologies, among other initiatives.

Additionally, Bioniche began the New Year by reorganizing its corporate leadership team, with a goal of increasing efficiency and better positioning the Company for strategic growth. For more details concerning the reorganization, view the full press release.

Pluristem Therapeutics Inc. On January 4, 2011, Pluristem announced that, beginning January 9, 2011, the Tel-Aviv Stock Exchange (TASE) is including its ordinary shares on four TASE equity indexes: Tel-Tech, TA Composite, MidCap TA, and Biomed.

Advanced Cell Technology, Inc. (“ACT”). On January 3, 2011, ACT announced that FDA had cleared its Investigational New Drug (IND) application to treat Dry Age-Related Macular Degeneration (AMD). ACT may now commence a Phase I/II multicenter clinical trial to treat patients with Dry AMD, the most common form of macular degeneration. Read the full press release for greater details concerning the upcoming trial.

CEL-SCI Corporation. On January 5, 2011, CEL-SCI (CVM-NYSE Amex) announced that it received governmental approval in Russia to begin enrollment of subjects for a Phase III clinical trial of Multikine®, the Company’s flagship immunotherapy to treat head and neck cancer. In total, the Phase III trial may run at roughly 48 clinical centers within nine countries worldwide. Click here to view the full press release.

<< See Our Companies at Upcoming Conferences >>

Amarin Corporation plc (AMRN-NASDAQ) is scheduled to present at the 29th Annual J.P. Morgan Healthcare Conference on January 13, 2011, at 1:00 p.m. PT in San Francisco.

Company executives from Pro-Pharmaceuticals, Inc. (PRWP-OTC.BB), a company developing therapeutics that target Galectin receptors to treat cancer and fibrosis, are scheduled to present a corporate update at the Biotech Showcase Conference on January 12, 2011, at 11:30 a.m. PT at the Parc 55 Wyndham Hotel in San Francisco, California. As well, Pierre Laurin, president and chief executive officer of ProMetic Life Sciences Inc. (PLI-TSX), is also scheduled to give a corporate presentation at the Biotech Conference on January 12, 2011, at 10:15 a.m. PT.

As well, several of our companies will be participating in the OneMedForum in San Francisco on January 11-13, 2011, including Advanced Cell Technology (ACT), BioCurex, Inc. (BOCX-OTC.BB), and Cytomedix, Inc. (GTF-NYSE Amex). For a complete list of participants, click here.

Topics: Newsworthy Events, Bioniche, Pluristem Therapeutics, CEL-SCI

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