latest news releases from the newsroom
Medivir licenses MIV-150 to Population Council
HUDDINGE, Sweden, July 30, 2003 (PRIMEZONE) -- MIV-150 has been outlicensed to Population Council in New York for usein a microbicide intended to prevent HIV transmission. The PopulationCouncil has previously developed Carraguard, a vaginal formulation(microbicide) which is now in clinical evaluation among women in Africawith the hope that it will decrease the risk of HIV infection andprevent other sexually transmitted diseases. Laboratory experimentsindicate that the addition of MIV-150 to this vaginal formulation couldsubstantially increase the efficacy of the formulation in preventing HIVtransmission.
Telelogic Closes US$784,000 Deal with Major US-Based Healthcare Services Firm
MALMO, Sweden and IRVINE, Calif., July 30, 2003 (PRIMEZONE) -- Telelogic (Stockholm Exchange:TLOG) (Other OTC:TGIAF), the leading global provider of solutions for advanced systems and software development, today signed a one-year license agreement with a major US-based health services firm who has purchased US$784,000 of products and services.
Eastmain Resources Inc.
Eastmain Eliminates Back-In Option at Clearwater; $1 Million Drilling & Trenching Program Underway
TORONTO, Ontario, July 30, 2003 (PRIMEZONE) -- Eastmain Resources Inc. (TSX:ER) is pleased to announce that SOQUEM has waived its back-in right to Clearwater in exchange for 1 million common shares of the Corporation. In March 2002, Eastmain and SOQUEM entered into a Memorandum of Understanding (MOU) defining terms enabling the Corporation to acquire a 75% interest in the Clearwater Project. Under the terms of the MOU, SOQUEM granted Eastmain the option to earn an additional 25% interest in the Property in exchange for $2.5 Million in work expenditures over a four-year period. Upon Eastmain exercising its option, SOQUEM held a one-time, 60-day, back-in right to earn 25% interest in the Property for $3.0 Million in work expenditures over a five-year period.
NetSol Technologies Inc.
NetSol Technologies, Inc. Signs Binding Letter of Intent to Acquire Pearl Treasury Systems Ltd.
CALABASAS, Calif., July 30, 2003 (PRIMEZONE) -- NetSol Technologies, Inc. (Nasdaq:NTWKC), a developer of proprietary software applications, today announced that it has signed a Binding Letter of Intent to purchase United Kingdom-based Pearl Treasury Systems Ltd. (PTS). Under the terms of the agreement, NetSol will acquire PTS using the company's common stock. NetSol will issue up to 500,000 restricted shares of its common stock over a 12-month period as specified milestones are met by PTS management. NetSol intends to complete the acquisition within 30 days.
Smedvig asa: Court Rulings in the Balder Dispute
STAVANGER, Norway, July 30, 2003 (PRIMEZONE) -- The Stavanger District Court reached today its decision in the dispute between Smedvig (NYSE:SMVa) (NYSE:SMVb) and Esso with regard to the completion of the Balder production vessel. The court concluded that Esso had the right to terminate the sales and purchase contract and the operating contract. On the other hand, the court has concluded that all contractual limitations of responsibility are applicable. Furthermore, the court has rejected Esso's claim of gross negligence on Smedvig's part. Smedvig has to pay NOK 509 million to Esso as compensation for completion and guarantee work and USD 3.5 million as part refund of the purchase price. In addition to these amounts, a preliminary estimated net interest of NOK 150 million will apply.