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RegMed Daily, Mid-Day, 10/6/11, overshadowed by Icon Steve Jobs death, EU fiascoes and coming unemployment numbers

Last updated: 16:43 06 Oct 2011 BST, First published: 20:43 06 Oct 2011 BST

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   The 6 W’s: Who, what, where, when, why and what of it …

 

 

After moving sharply higher in the 3 previous sessions, stocks are giving back some ground in early trading on Thursday, 10/6/11.  The major averages have moved to the downside, although selling pressure has remained relatively subdued.

 

Mid-Day: The NASDAQ is UP +35.76 (+1.45%) to 2,496.27. The Dow is UP +104.93 (+0.96%) to 11,044.88.

Mid-Day Movers: Aastrom (ASTM), Athersys (ATHX), BioMimetic (BMTI), BioTime (AMEX: BTX), Cytori (CYTX), Dendreon (DNDN), Fibrocell (OTC BB: FCSC), ImmunoCellular (OTC BB: IMUC), Opexa (OPXA), Osiris (OSIR), Pluristem (PSTI), StemCells (STEM) and ThermoGenesis (KOOL)

What’s new in the regenerative medicine/stem cell market …

Advanced Cell Technology, Dr Robert Langer Joins Board of Directors: ACT or OTCBB: ACTC has appointed Dr Robert S. Langer, David H. Koch Institute Professor at the Massachusetts Institute of Technology (MIT), to the Board of Directors, and will also serve as the Chair of the Board’s Science Advisory Committee. The bottom line, Dr. Langer is a world-renowned scientist and entrepreneur with a wide range of experience in the healthcare, biotechnology, and pharmaceutical industries. Dr Langer has such a diverse background and successful track record, Bob’s experience in guiding life science companies through different stages of growth will be a great asset to ACTC as advance its mission to develop cutting-edge regenerative medicine therapies. His expertise in cross-disciplinary research, product development efforts,  professional collaborations will be invaluable to ACT, and investors should look forward to his joining  for the strategic decisions that will shape the future of ACT.

Experts develop close embryonic clones of patients with diabetes: Scientists at the New York Stem Cell Foundation Laboratory were able to develop 13 early-stage human embryos that are close copies of patients with diabetes after deriving DNA-carrying nuclei from the patients’ skin cells and adding them to unfertilized human eggs, which later on reprogrammed the cells into blastocysts. They also reported in the journal Nature that they were able to turn master stem cells, which are reprogrammed skin cells by the eggs, into nerves and other types of cells. Although the embryos aren’t considered viable because of the extra set of chromosomes, the technique might pave the way for the development of tailor-made stem cells for use in the treatment of serious conditions.

NIH awards $9M grant to help experts study cardiovascular disease: The NIH has awarded a $9Mgrant over five years to a researcher at the Medical College of Wisconsin and two scientists at theUniversity ofPennsylvania. The 3 researchers will use liver cells derived from fat cells and analyze gene mutations to gain a better understanding of cardiovascular disease.

Tengion Receives NASDAQ Notice of Minimum Bid Price Non-Compliance: TNGN has received notice from the Listing Qualifications Department of the Nasdaq Stock Market indicating that, for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share required for continued inclusion on The Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1).  The notification letter states that the Company will be afforded 180 calendar days, or until April 2, 2012, to regain compliance with the minimum bid price requirement. In order to regain compliance, shares of the Company’s common stock must maintain a minimum bid closing price of at least $1.00 per share for a minimum of ten consecutive business days.

Bioheart Announces $3M Equity Facility: OTCBB: BHRT has agreed on terms with an investor to provide $3,000,000 in equity financing via sales of registered common stock over a 24 month term. Under this agreement, BHRT will have the right (but not the obligation) to sell its common stock to the investor, subject to agreed upon terms that include the requirement that the shares are registered through a series of issuances. The formula will be a function of the market price of the common stock at the time of the issuance.

International Stem Cell, New Vice-Chairman and President/COO: OTC BB: ISCO designated Dr. Andrey Semechkin, the CEO as a Co-Chairman with the founder, Kenneth Aldrich, and also named Kurt May as President and COO. Mr. May is currently SVP and this represents both a promotion and the delegation of additional duties and responsibilities. Prior to joining ISCO, Mr. May was a senior executive with GTE Corporation and with PriceSmart, and the founder and CEO of a privately owned biotech company, Psynomics, based on medical technology derived from the UC,San Diego. Mr. May served as a faculty member and Assistant Dean of UCSD’s Rady School of Management from 2005 to 2009.

 

 

 

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