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Sign Up For Our Free Newsletter!! MTCH,AXPW,SNGX,ONNN,SNSS
(M2 PressWIRE Via Acquire Media NewsEdge) STOCK MARKETING INC PRESENTS : (OTCBB: MTCH) Matech Corp., (OTCBB: AXPW) Axion Power International, Inc., (OTCBB: SNGX) Soligenix, Inc., (NASDAQ: ONNN) ON Semiconductor Corp., (NASDAQ: SNSS) Sunesis Pharmaceuticals, Inc.
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(OTCBB: MTCH - Matech Corp.)
LATEST NEWS!!
MATECH Expects to Benefit From Potential $150 Billion Surge in Federal Stimulus Spending
Highway and Bridge Construction to Comprise Significant Portion of Stimulus Expenditure
LOS ANGELES, CA, Dec 28, 2009 -- MATECH Corp. (OTCBB: MTCH) (www.matechcorp.com) is pleased to announce that Company expects to benefit from a substantial increase in federal spending focused on job creation through infrastructure development among other initiatives recently proposed by President Obama.
New highway and bridge construction and other infrastructure development projects would comprise a significant portion of this new spending initiative along with a focus on other potential job-generating programs such as small business tax cuts and retrofitting millions of homes to be more energy-efficient.
Using its revolutionary Electrochemical Fatigue Sensor (EFS) System, the only nondestructive technology capable of detecting growing cracks as small as 0.01 inches, MATECH expects to significantly benefit from the proposed increase in federal stimulus towards infrastructure development and maintenance projects. MATECH's Sensor EFS System has proven its efficacy on over 40 bridges in 10 different states and on railroads across the nation.
"President Obama has repeatedly called for using federal spending to secure the nation's infrastructure as a means of job creation and improving the economy," said Robert M. Bernstein, Co-CEO of MATECH. "Should these additional measures be taken, we anticipate that MATECH and our effort to secure the nation's infrastructure will benefit enormously." MATECH has a proven track record of saving bridge owners money through improving bridge management and public safety with its cutting-edge EFS System. Through eliminating subjectivity of inspections for cracking in bridge members (the FHWA has stated that 90% of these cracks are missed with the usual visual inspections), MATECH is helping to eliminate wasted funds by prioritizing repairs and verifying their effectiveness immediately.
About MATECH MATECH Corp., founded in 1983, is an engineering, research and development company based in Los Angeles, CA. The Company specializes in technologies to measure microscopic fractures in metal structures. MATECH is marketing its patented Electrochemical Fatigue Sensor (EFS) and other advanced crack-detection technologies to bridge asset managers, railroad companies, and governmental agencies across the United States and internationally. To learn more, please visit: www.matechcorp.com
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(OTCBB: AXPW - Axion Power International, Inc.)
LATEST NEWS!!
Axion Power(TM) Awarded Government Grant to Help Develop, Deploy PowerCube(TM) Battery Energy Storage System for Smart Grid Technology
--Power from Storage Device Will Enable Solar-Powered Electric Vehicle Charging Station, Future Integration of Wind Turbine System
NEW CASTLE, Pa., Dec 28, 2009 -- Axion Power International, Inc. (OTC Bulletin Board: AXPW), the developer of advanced lead-carbon PbC(R) batteries, today announced that it had been awarded a grant from the Pennsylvania Energy Development Authority. The grant will be used to assist in the development and deployment of an Axion PowerCube(TM) battery energy storage system using the Company's proprietary PbC battery technology. The 500 kilowatt PowerCube will be built and installed at Axion's New Castle battery manufacturing facility and will be designed to enhance a Smart Grid electrical distribution system, including a future solar-powered electric vehicle charging station and a potential wind-powered energy system.
The $248,650 grant is part of $1.5 million in Pennsylvania state grant aid that is dedicated to "innovative green energy projects" announced recently by Gov. Edward G. Rendell. "These are the types of projects that are putting us on the road to energy independence," the governor's office stated in the release.
Axion Power CEO Thomas Granville said the state grant reaffirms the environmental attributes and energy storage potential of the Company's proprietary PbC battery technology, which forms the basis of the PowerCube.
"Our PbC battery technology can enhance energy storage capabilities within a viable Smart Grid electrical distribution system," Granville said. "This award gives us a chance to demonstrate the considerable promise of our PbC batteries as an enabling technology for a Smart Grid deployment. Our PbC battery will be used for power quality, peak demand reduction and as part of an electric car charging application. We look forward to working with our partners in demonstrating the effectiveness of our product." The grant funds will be used to purchase a power conditioning system for the PowerCube from Eaton Corporation as well as other ancillary design and installation costs. The PowerCube can be configured with an Envision Solar CleanCharge(TM) solar powered electric vehicle charging station and designed to also allow future integration of a wind turbine system. Axion has an established business relationship with Envision Solar, a company that has deployed solar energy generating systems at UC San Diego, several McDonald's franchises and other high-profile commercial sites around the country.
"A key attribute of the PowerCube is its ability to couple energy storage with solar and wind systems as an integral component of a Smart Grid, which should help increase the reach and market penetration of renewable energy," Granville added. "The PowerCube has been designed to capture the intermittent power generated by renewable energy producers like solar and wind, and to recover rapidly after an outage event. Last week's completion of a $26M financing round for Axion will allow us to build additional carbon electrode production capacity to better serve, and more competitively serve, these emerging energy storage markets." About Axion Power International, Inc.
Axion has developed and patented a next generation energy storage device that won the prestigious Frost & Sullivan Technology Award for North America in the field of lead-acid batteries. According to Frost & Sullivan, Axion's new PbC(R) batteries have "the potential to revitalize the lead-acid battery industry by breathing new life into an established technology that is not well suited to the requirements of important new applications like hybrid electric vehicles and renewable power." Axion Power International, Inc. is the industry leader in the field of lead-acid-carbon energy storage technologies. Axion believes this new battery technology is the only class of advanced battery that can be assembled on existing lead-acid battery production lines throughout the world without significant changes to production equipment and fabrication processes. It also believes it will be able to manufacture carbon electrode assemblies in volume at low cost using standard automated production methods that are commonly used in other industries. If and when its electrode manufacturing methods are fully developed, Axion believes it will be able to sell carbon electrode assemblies as virtual plug-and-play replacements for lead-based negative electrodes used by all other lead-acid battery manufacturers. Axion's future goal, after filling their plant's lead-carbon battery production capacity, is to become the leading supplier of carbon electrode assemblies for the global lead-acid battery industry.
For more information, visit www.axionpower.com
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(OTCBB: SNGX - Soligenix, Inc.)
LATEST NEWS!!
Soligenix Announces Publication of Positive Pre-Clinical Results with RiVax(TM), Its Vaccine Against Ricin Toxin
--Collaborative Effort Between Soligenix and Wadsworth Center Describes the Properties of Protective Antibodies to Ricin Toxin
PRINCETON, N.J., Dec 28, 2009 -- Soligenix, Inc. (OTC Bulletin Board: SNGX) (Soligenix or the Company), a late-stage biotechnology company, announced today the publication of an article in the January 2010 edition of Infection and Immunity, detailing the characteristics of several immunodominant regions of ricin A chain, the antigenic component of RiVax((TM)). RiVax((TM)) is Soligenix's vaccine to protect against exposure to ricin toxin and is currently being evaluated in Phase 1 human safety and immunogenicity trials, as well as nonhuman primate trials for efficacy.
The article, entitled "A Monoclonal Immunoglobulin G Antibody Directed against an Immunodominant Linear Epitope on the Ricin A Chain Confers Systemic and Mucosal Immunity to Ricin," is the result of collaborative efforts between the Wadsworth Center of the New York State Department of Health (Albany, NY) and Soligenix. The research was funded in large part by several National Institutes of Health (NIH) grants to the Company for the development of RiVax((TM)). The full article (Neal et al., Infection and Immunity, 2010, volume 78: pp. 552-561) is available online at: http://iai.asm.org/cgi/content/abstract/78/1/552.
In this study, the investigators produced and characterized a monoclonal antibody directed against a region ("epitope") of the ricin A chain previously known to be highly immunologically stimulatory ("immunodominant") in humans. The monoclonal antibody was shown to bind the ricin A chain with high affinity, and to be capable of neutralizing ricin toxin in a cell-based killing assay. Moreover, when administered passively to mice, the neutralizing antibody was sufficient to protect the animals against both systemic (i.e., intraperitoneal) and mucosal (i.e., intragastric) ricin challenge. These results advance the concept that antibodies present in the circulation at the time of toxin exposure not only protect animals against death, but may also prevent the toxin's effects on mucosal tissues. This is an important finding, as ricin is toxic to humans following ingestion and inhalation. The study is also significant because it raises the possibility of using specific linear determinants on the ricin A chain as markers for protective immune responses in humans. Immunological readouts, such as the ability of serum antibodies to react with specific neutralizing epitopes on the ricin A chain, along with other markers that are currently in use to investigate human immune responses, will be essential in fully evaluating the efficacy of candidate ricin vaccines such as RiVax(TM), in the absence of the ability to perform vaccine efficacy trials in humans.
"These data are important in terms of ricin vaccine development, since they firmly establish that pre-existing serum antibodies directed against linear determinants on the ricin A chain are sufficient to confer both systemic and mucosal immunity to ricin," stated Nicholas Mantis, Ph.D., Research Scientist IV, Wadsworth Center, and lead author of the study.
"Vaccination by injection primarily induces antibodies in the circulation, and in the case of RiVax((TM)), these fundamental results further indicate that intramuscular vaccination will be expected to protect humans against ingestion of toxin or aerosolized toxin exposure," said Robert N. Brey, Ph.D., Chief Scientific Officer of Soligenix, and a co-author of the study. "The publication of these results is exciting as they lead the way to the potential development of new applications utilizing a key target of neutralizing antibodies in vivo." About RiVax((TM)) RiVax(TM) is Soligenix's proprietary vaccine developed to protect against exposure to ricin toxin and is the most advanced vaccine in the company's portfolio. RiVax(TM) induces a protective immune response in animal models of ricin exposure and is currently being evaluated in humans. One human Phase 1 clinical trial has been completed and a second trial is currently being conducted.
Results of the first Phase 1 clinical trial of RiVax(TM) established that the immunogen was safe and induced antibodies anticipated to protect humans from ricin exposure. The outcome of the study was published in the Proceedings of the National Academy of Sciences (Vitetta et al., 2006, PNAS, 105:2268-2273). The second trial, sponsored by the University of Texas Southwestern Medical Center (UTSW), is currently evaluating a more potent formulation of RiVax((TM)). Soligenix has developed processes for large-scale manufacturing and is further establishing correlates of the human immune response in nonhuman primates.
The development of RiVax(TM) has been sponsored through a series of overlapping challenge grants (UC1) and cooperative grants (U01) from NIH, granted to Soligenix and to UTSW where the vaccine originated. The second clinical trial is being supported by a grant to UTSW from the US Food and Drug Administration's Office of Orphan Products Development. Soligenix and UTSW have collectively received approximately $25 million in grant funding from the NIH for development of RiVax(TM) and related vaccine technologies.
About Ricin Toxin Ricin toxin is a plant toxin thought to be a bioterror threat because of its stability and high potency, as well as the large worldwide reservoir created as a by-product of castor oil production. Exposure to ricin results in local tissue necrosis and general organ failure leading to death within several days of exposure. The potential use of ricin toxin as a biological weapon has been highlighted in an FBI terrorism report, which states that "Ricin and the bacterial agent anthrax are emerging as the most prevalent agents involved in WMD investigations" (http://www.fbi.gov/publications/terror/terrorism2002_2005.pdf).
There are currently no effective means to prevent the effects of ricin intoxication. The successful development of an effective vaccine against ricin toxin may act as a deterrent against the actual use of ricin as a biological weapon and could be used in rapid deployment scenarios in the event of a biological attack. RiVax((TM)) would potentially be added to the Strategic National Stockpile and dispensed in the event of a terrorist attack.
About Soligenix, Inc. Soligenix, Inc. (Soligenix), formerly known as DOR BioPharma, Inc., is a late-stage biopharmaceutical company developing products to treat life-threatening side effects of cancer treatments and serious gastrointestinal diseases, and vaccines for certain bioterrorism agents. Soligenix's lead product, orBec((R)) (oral beclomethasone dipropionate or BDP), is a potent, locally acting corticosteroid being developed for the treatment of acute gastrointestinal Graft-versus-Host-Disease (GI GVHD), a common and potentially life-threatening complication of hematopoietic cell transplantation. orBec((R)) is currently the subject of a confirmatory Phase 3 clinical trial for the treatment of acute GI GVHD and an NIH-supported, Phase 2, randomized, double-blind, placebo-controlled trial in the prevention of acute GVHD. Both of these trials are actively enrolling patients. Soligenix has also recently initiated an NIH-supported Phase 1/2 clinical trial of SGX201 in the prevention of acute radiation enteritis. Additionally, Soligenix has a Lipid Polymer Micelle (LPM(TM)) drug delivery technology for the oral delivery of leuprolide for the treatment of prostate cancer and endometriosis.
Through its Biodefense Division, Soligenix is developing biomedical countermeasures pursuant to the Project BioShield Act of 2004. Soligenix's lead biodefense product in development is a recombinant subunit vaccine called RiVax(TM), which is designed to protect against the lethal effects of exposure to ricin toxin. RiVax(TM) has been shown to be well tolerated and immunogenic in a Phase 1 clinical trial in normal volunteers. RiVax((TM)) will also be the subject of a recent $9.4 million NIH grant received by the Company supporting development of new heat stable vaccines.
For further information regarding Soligenix, Inc., please visit the Company's website at www.soligenix.com.
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(NASDAQ: ONNN - ON Semiconductor Corp.)
LATEST NEWS!!
ON Semiconductor Commences Tender Offer for Acquisition of California Micro Devices Corporation
Acquisition Will Significantly Strengthen Company's Offering of Application Specific Integrated Passive Devices
PHOENIX, Ariz., Dec 28, 2009 -- ON Semiconductor (Nasdaq: ONNN) today announced that it has commenced its tender offer for the acquisition of California Micro Devices Corporation.
This move represents the next step toward an acquisition first announced on December 14. As previously reported: "The acquisition of California Micro Devices (CMD) will significantly strengthen our offering of application specific integrated passive (ASIP) devices to protect products in the wireless, computing and consumer electronics end-markets," said Keith Jackson, ON Semiconductor president and CEO. "In addition, CMD's expertise in protection solutions for the high brightness LED (HBLED) market, as well as their strengths in LC-based EMI (electromagnetic interference) filtering and low capacitance ESD (electrostatic discharge) protection, complement our existing portfolio of protection and lighting solutions. With technology and process development expertise in ESD and EMI protection, CMD is highly differentiated in the marketplace -- as demonstrated by their strong relationships with leading global customers across multiple large and growing applications. Combined with ON Semiconductor's global sales channel footprint and effective channels of distribution, we expect to be able to support a broader and deeper penetration of CMD's overall product portfolio with market-leading customers. This should enable us to accelerate revenue growth for CMD's products and increase market share. We also believe CMD's products and operations will benefit from ON Semiconductor's world-class manufacturing capabilities." The cash tender, through PAC-10 Acquisition Corporation, an indirect, wholly-owned ON Semiconductor subsidiary, is for all outstanding shares of CMD common stock at a price of $4.70 per share, without interest and less any applicable withholding or stock-transfer taxes.
The tender offer is subject to conditions set forth in the Offer to Purchase, including a minimum share-tender condition and other customary conditions, as described in the Offer to Purchase.
Unless extended, the tender offer and any withdrawal rights to which CMD stockholders may be entitled will expire at midnight, U.S. Eastern Time, on Tuesday, January 26, 2010 (which is the end of the day on January 26, 2010). Following acceptance for payment of shares in the tender offer and completion of the transactions contemplated in the merger agreement and described in the Offer to Purchase, CMD will become an indirect, wholly owned subsidiary of ON Semiconductor.
Complete terms and conditions of the tender offer are set forth in the Offer to Purchase, Letter of Transmittal and other related materials filed by ON Semiconductor and PAC-10 Acquisition Corporation with the SEC on December 28, 2009. In addition, on December 28, 2009, CMD filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC relating to the tender offer. Copies of the Offer to Purchase, Letter of Transmittal and other related materials, including the Solicitation/Recommendation Statement, are available free of charge from Georgeson, the information agent for the tender offer, toll-free at (866) 695-6073 or via email at calmicinfo@georgeson.com (banks and brokers call collect (212) 440-9800). Computershare Trust Company, N.A. is acting as depositary for the tender offer. GCA Savvian Advisors, LLC is acting as dealer manager for the tender offer.
About ON Semiconductor With its global logistics network and broad product portfolio, ON Semiconductor (Nasdaq: ONNN) is a premier supplier of high performance, energy efficient, silicon solutions that enable designers to quickly and cost-effectively improve system efficiency for electronics in the computing, communications, consumer, lighting, automotive, industrial, medical and military/aerospace markets. The company's portfolio includes power management, signal, logic, discrete and custom devices. The company operates a network of manufacturing facilities, sales offices, and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com.
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(NASDAQ: SNSS - Sunesis Pharmaceuticals, Inc.)
LATEST NEWS!!
Sunesis Pharmaceuticals Regains NASDAQ Compliance
SAN FRANCISCO, CA, Dec 28, 2009) -- Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) today announced that it has received notification from The NASDAQ Stock Market that it has regained compliance with the minimum $1.00 per share bid price requirement. As required under NASDAQ's Listing Rules, to regain compliance, the Company was required to evidence a closing bid price of $1.00 per share or more for at least ten consecutive days. On December 23, 2009, the closing bid price of the Company's common stock was $1.34 per share, the tenth consecutive day the stock price had closed above $1.00 per share.
About Sunesis Pharmaceuticals Sunesis is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of solid and hematologic cancers. Sunesis has built a highly experienced cancer drug development organization committed to advancing its lead product candidate, voreloxin, in multiple indications to improve the lives of people with cancer. For additional information on Sunesis Pharmaceuticals, please visit http://www.sunesis.com.
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