--(www.USEquityNews.com)-- 07/01/2008 - Healthcare industry alert provided by U.S. Equity News. TapImmune Inc., (OTCBB: TPIM) announced recently the U.S. Patent and Trademark Office (USPTO) has issued U.S. patent No. 7,378,087, entitled "Method of Enhancing an Immune Response." The patent claims relate to methods for enhancing the immune response to tumor cells by introducing the TAP molecule into the infected cells. Patent applications are pending on other aspects of the company's technology. TAP, or Transporters Associated with Antigen Processing, are proteins responsible for supplying tumor-associated antigens (markers) and viral antigens to the surface of infected cells. Without TAP, the immune system fails to spot rogue cells and the cancerous cells can grow undetected. In the case of virally infected cells, the TAP adjuvant makes the vaccine more effective in its job of educating the immune system to deal with the infectious pathogen.
Genaera Corporation (NASDAQ: GENR) recently announced the election of Paul K. Wotton, Ph.D., to Genaera's Board of Directors, bringing the membership total to seven. Dr. Wotton is expected to serve for the remainder of the Board's existing term through the Company's 2009 Annual Meeting. "We are extremely pleased to add Paul Wotton to our Board of Directors. He has a proven record of success in business development, commercializing new business opportunities, and closing negotiations," said Jack Armstrong, president and CEO of Genaera. "I believe Paul's areas of expertise will be invaluable to Genaera. The management team and I look forward to working closely with Paul and the rest of our Board members to further develop strategic relationships."
Alseres Pharmaceuticals, Inc. (NASDAQ: ALSE), a biopharmaceuticals company engaged in the development of therapeutic and diagnostic products primarily for disorders in the central nervous system, entered a into Convertible Promissory Note Purchase Agreement, with Robert Gipson (the "Lender"), pursuant to which the Company may borrow up to aggregate principal amount of $5,000,000. Pursuant to the Purchase Agreement, the Company issued a convertible promissory note to the Lender in the aggregate principal amount of $5,000,000 (the "Note"). According to the terms of the Purchase Agreement, the Lender may elect to convert all or a portion of the outstanding principal and accrued interest under the Note (the "Total Converted Balance") into (i) shares of the Company's common stock at a conversion price of $2.50 per share or (ii) into the right to receive from the Company the following payments related to the Company's molecular imaging products: for each $1,000,000 of Total Converted Balance, (A) 2% of Pre-Commercial Income; plus (B) a royalty at a rate of 0.5% of Net Sales of Molecular Imaging Products (each as defined in the Purchase Agreement).
Shares of Indevus Pharmaceuticals Inc. (NASDAQ: IDEV) rose recently after drug developer said the Food and Drug Administration gave it clear recommendations to put an experimental testosterone drug back on the path toward approval. Still, the company plans to cut 12 percent of its staff, mainly at the Lexington, Mass., headquarters, and aggressively pursue other programs because of the regulatory delays with Nebido. Indevus expects restructuring charges between $3 million and $4 million in the third quarter. Shares rose 25 cents, or 16 percent, to $1.81 in afternoon trading. The stock has traded between $1.19 and $8.22 over the past 52 weeks.
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