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August 30th, 2005
Zynex Medical Holdings, Inc. (OTCBB: ZYNX), which offers
electrotherapy products for pain management, has been awarded a multi-million dollar grant from the National Institute of
Health to conduct a randomized study of its NeuroMove technology, a technology has already been cleared by the United States
Food and Drug Administration for Stroke Rehabilitation.
Called "Electrical Stimulation of Upper Limb Recovery
in Stroke," the study is being conducted by Zynex in collaboration with Case Western Reserve University and the University
of Cincinnati. The study will measure motor impairment, upper limb activity and EMG activation patterns.
The NeuroMove system requires a doctor's prescription
and is aimed at improving the mobility of the over four million stroke victims in the United States.
AUGUST 29th, 2005
Non-Invasive Monitoring Systems, Inc. (NIMS)(OTCBB:NIMU)
has closed a $950,000 financing round consisting of common stock and warrants. With the announcement, Dr. Marvin Sackner,
Chairman of the Board of Directors of NIMS, commented on the company’s pain management technology, "We are delighted
to have this infusion of additional capital. We believe that this capital will sufficiently fund our current business plan
and capital requirements. It will allow us to continue our strategy of seeking FDA 510 clearance to market our flagship product,
the AT-101 therapeutic vibrator, as an effective, safe, drug-free means to relieve minor aches and pains as well as developing
and marketing a less expensive, home version of this device."
August 5th, 2005
LAB International Inc. (TSX: LAB, Frankfurt: LD9.F, XETRA: LD9.DE),
an integrated drug development company involved in the inhalation therapy market, reported second quarter revenue for the
period ended June 30, 2005 of $13.2 million, a 129 percent increase from the $5.7 million it reported for the same period
in 2004. For the year-to-date, the company reported a 98 percent increase in revenue over the same period in 2004.
The increase in revenue is mainly attributed to the company’s
Scantox division, which it acquired in February of 2005. Scantox, the company’s new Danish subsidiary has contributed
$9.2 million in revenue since the acquisition. Mr. Andrew Reiter, CFO at Lab International, indicated that the growth was
a result of internal growth and acquisitions, "These quarterly results are the best in our corporate history and clearly demonstrate
LAB's ability to couple strong internal growth with strategic acquisitions. LAB Research's strong financial performance, including
the substantial contribution provided by Scantox, is a key and essential element towards the success of our product development
strategy. The
significant level of cash being generated internally allows us to confidently advance LAB Pharma's pipeline
into late stage clinical trials. "
LAB Pharma, one of the units at Lab International, is focused on
its lead product used for the treatment of cancer pain. That produce is delivered via the company’s dry powder inhaler,
TAIFUN. Lab Pharma is also developing asthma products. The companies LAB Research business is a contract research services
operation.
AUGUST 3rd, 2005
Altea, a Transdermal Patch Company, Completes $30 Million Round
C - Diabetes and Pain Management Patch Under Development
Signifying a potential promising trend in non-invasive medical
treatment, Altea Therapeutics has completed a $30 million round of equity financing for the further development of its protein
and drug delivery patches. The Series C round was led by Aperture Venture Partners. Others that contributed to the round were
CX Ventures, Domain, KBC, Quilvest, Rockport Ventures, Venrock and vSpring Capital
Eric Tomlinson, Ph.D., CEO of Altea Therapeutics indicated that
the funding would be used for the clinical development of its lead products, "Altea Therapeutics will use the proceeds to
continue the clinical development of our lead products for pain management and diabetes control. These funds will also support
the further development of processes for the fabrication of our commercial products."
Paul E. Tierney, Jr., Managing Partner of Aperture Venture Partners,
the lead investment firm, commented on Altea’s progress "Altea Therapeutics has made impressive progress in developing
a convenient method for the sustained delivery of proteins and water-soluble drugs across the skin; the Company's achievements
to date set the stage for future success."
Altea Therapeutics in the announcement indicated that its patented
PassPort transdermal system, in clinical studies, is able to deliver proteins and water-soluble drugs through patches, something
that for the most part has only been achieved in the past through the use of needles, which are considered a high-risk and
sometimes painful medical delivery system.
Altea also noted in the announcement that it is conducting Phase
2 clinical trials in the United States for a daily hydromorphone patch for rapid pain management and a Phase 1 clinical trial
for its insulin patches.
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