latest news releases from the newsroom
United Online, Inc.
United Online Signs Multi-Year Distribution Agreement with Musicland
WOODLAND HILLS, Calif., Oct. 7, 2004 (PRIMEZONE) -- United Online, Inc. (Nasdaq:UNTD), a leading provider of consumer Internet subscription services, today announced it has entered into a multi-year distribution agreement with Musicland Group Inc., one of the nation's leading specialty retailers of music, movies and entertainment-related products. Under the agreement, United Online will offer its value-priced NetZero Platinum and NetZero HiSpeed Internet services in the more than 900 Sam Goody, Suncoast and Media Play stores in the continental United States.
Across America Real Estate Development Corp.
Across America Real Estate Development Enters into an Arrangement with S&O Development for $1,850,000
DENVER, Oct. 7, 2004 (PRIMEZONE) -- Across America Real Estate Development (Pink Sheets:AARD), a national publicly traded company that is a developer partner focusing on 100% financing of build to suit real estate projects and also provides financing for those transactions where a bank requires developer equity, announced today that it has entered into an arrangement with S&O Development, LLC, a builder and developer of commercial property. AARD and S&O intend to develop an express tunnel carwash located in Littleton Colorado with an approximate cost of $1,850,000. AARD expects to start funding this project immediately.
Diamyd starts larger trial in type 2 diabetes patients in Sweden
STOCKHOLM, Sweden, Oct. 7, 2004 (PRIMEZONE) -- At the International Diabetes Federation meeting in Los Angeles, USA, it will be announced today that a larger clinical trial with Diamyd will start in type 2 diabetes patients in Sweden. "This new study implies a major step towards registration of Diamyd," says CEO Anders Essen-Moller. "The prospect for development of our therapeutic for treatment of type I diabetes and final vaccine has been considerably enhanced. For a new pharmaceutical to be approved - i.e registered - two phase III studies are required which must be carried out on a larger number of patients and show positive results. The approved study is intended to be one of these pivotal studies to provide statistically significant positive effects and enable registration." The Medical Products Agency in Uppsala and the Ethical Committee of Lund University have approved a larger study to investigate the efficacy of the diabetes pharmaceutical in 160 patients with type 2 diabetes and antibodies against GAD (i.e. patients with LADA). The study is to be carried out by Clinical Data Care AB at some 15 clinics throughout Sweden and is to start immediately under the leadership of Professor Carl-David Agardh of Malmo University Hospital. Professor Agardh confirmed at an international LADA symposium in Munich, Germany in September that the patients who received two injections of 20g in the earlier phase II study showed significantly improved insulin production and blood sugar levels 24 month after treatment. The new study, which is randomized, double blind and placebo controlled, includes 160 patients diagnosed with type 2 diabetes with antibodies against GAD. The active group will receive two injections 30 days apart of a 20g dose of Diamyd . The aim of the study is to convincingly demonstrate the ability of Diamyd to inhibit the autoimmune attack that results in destruction of insulin-producing beta cells. Important scientific papers have been published during 2004 that indicate that the retention by patients of even a small capacity to produce their own insulin significantly improves the prognosis for the complications resulting from diabetes. There are estimated to be 194 million people worldwide aged between 20 and 79 who have diabetes. The majority (ca. 90%) of these have type 2 diabetes (adult-onset diabetes). This number is expected to rise to 330 million by 2025 (source: the International Diabetes Federation). In addition, there are an unknown number of individuals with elevated blood sugar levels (pre-diabetes). The cost of diabetes in Western countries is about 7% of the total healthcare budget or over $100 billion a year in the US alone. Type 2 diabetes is - at least at the onset - characterized by chronic high blood sugar levels caused by an increasing insensitivity to insulin that cannot be compensated for by the patient's beta cells producing more insulin (overproduction). As the overproducing beta cells die of exhaustion, beta cell autoantigens such as GAD are released and presented to macrophages and other blood cells belonging to the immune system. This in turn triggers an immune process in about 10% of the patients (i.e those with LADA) where the immune system attacks and kills beta cells that have autoantigen fragments on the cell surface. Diamyd is designed to prevent and treat the autoimmune process in type 2 diabetes patients so that this group can fully benefit from treatment with modern pharmaceuticals for reduced insulin sensitivity or other metabolic disorders. Applications based on the Company's GAD platform Diabetes The first application of Diamyd will be type 2 diabetes patients with antibodies to GAD, or LADA patients. The rationales for this patient group are as follows: The patients are adults, already have diabetes, and regularly seek medical treatment. Although it is known that their beta cells are being destroyed and will eventually give rise to the need for insulin injections, LADA have more beta cells than patients presenting with type 1 diabetes, and is likely to be one reason why the earlier the treatment is begun, the greater the chance of Diamyd having an effect. Furthermore, the large LADA market size justifies development of this pharmaceutical. The next application is the treatment of new- onset type 1 diabetes patients. The aim is to halt the autoimmune progress that results in the patient's remaining cells being destroyed with two injections of Diamyd. A long-term objective is to vaccinate children to prevent the illness. Obesity The GAD gene has been identified as a candidate for obesity. The Company intends to investigate the possibility of developing a pharmaceutical for obesity based on GAD65. Parkinson/Epilepsy GAD-based therapy is being evaluated by other players for the treatment of Parkinson's disease. Diamyd Medical intends to issue licenses for GAD-based gene therapy of Parkinson's disease.
Cell Power Technologies, Inc.
Cell Power Technologies Raises Aggregate Gross Proceeds of $2.2 Million in Unit Sale
BROOKLYN, N.Y., Oct. 7, 2004 (PRIMEZONE) -- Cell Power Technologies, Inc. (OTCBB:CLPW) today announced that it has completed its previously announced offering of up to $3 million of its securities following the final closing on gross proceeds of $240,000. The amounts previously raised from the three interim closings on the offering were disclosed in Cell Power's quarterly reports on Form 10-QSB for the quarters ended April 30, 2004 and July 31, 2004. In total, Cell Power raised aggregate gross proceeds of $2,209,920 from the sale of 92.08 units of its securities at a per unit price of $24,000. Each unit consists of 32,000 shares of common stock and five year (subject to adjustment under certain conditions) warrants to purchase up to an additional 32,000 shares of common stock at a per share exercise price of $1.25. The offering expired as scheduled on September 29, 2004.