latest news releases from the newsroom
BrainStorm Cell Therapeutics
BrainStorm Makes Progress Towards Human Stem Cell Therapy for Parkinson's
NEW YORK and TEL AVIV, Israel, Dec. 13, 2005 (PRIMEZONE) -- BrainStorm Cell Therapeutics (OTCBB:BCLI), the developer of NurOwn(tm) bone marrow derived stem cell therapeutic products for the treatment of Parkinson's and other neurodegenerative diseases, announced today the results of a follow-up preclinical study evaluating the long-term impact of the company's dopaminergic cell treatment for Parkinson's disease.
Redfern Integrated Optics
Redfern Integrated Optics, Inc. (RIO) Raises Additional Funding, Bringing Series C Total to $8.4 Million
SANTA CLARA, Calif., Dec. 13, 2005 (PRIMEZONE) -- Redfern Integrated Optics, Inc. (RIO), a developer and manufacturer of low-cost, high-performance optical transmitters for telecommunications, data transmission and other markets, today announced that it has secured an additional $2.2 million from GE Capital Equity Investments and Jolimont Ventures -- bringing the total amount raised to $8.4 million. This additional financial support finalizes RIO's third round of funding, which completed its first close at $6.2 million in July, and was led by Advent International, Tallwood Venture Capital, TMT Ventures and Redfern Photonics. In connection with the new financing, Stephen Ezekiel of GE Commercial Finance joined RIO's board of directors.
Statman, Harris & Eyrich, LLC
Statman, Harris, Siegel & Eyrich, LLC Announces Class Action Lawsuit against Chicago Transit Authority
CHICAGO, Dec. 13, 2005 (PRIMEZONE) -- The law firm of Statman, Harris, Siegel & Eyrich, LLC has filed a Class Action Lawsuit on behalf of holders of the Chicago Transit Authority's Chicago Card and Chicago Card Plus against the Chicago Transit Authority ("CTA") for wrongful charges. The Complaint alleges that the CTA has deceptively and wrongfully charged thousands of holders of the Chicago Card and the Chicago Card Plus the sum of $1.75 for rides on CTA buses which were advertised as the $1.00 rush shuttle fare.
Diamyd Medical AB
Diamyd Medical Broadens Diabetes Pipeline With Acquisition Of Nurel Therapeutics
STOCKHOLM, Sweden, Dec. 13, 2005 (PRIMEZONE) -- Diamyd Medical AB (OMX:DIAMB) emerged as a global biotechnology company as shareholders approved the acquisition of Nurel Therapeutics, Inc. at a General Assembly Meeting in Stockholm yesterday. The Pittsburgh, PA- based biotech adds significantly to Diamyd Medical's pipeline for diabetes which now includes both a therapeutic vaccine for autoimmune type 1 and type 2 diabetes as well as therapies for diabetic pain. The merger is expected to close on Friday, December 16.
Care Choices Partners With Subimo to Offer Web-Based Tools for Consumers
FARMINGTON HILLS, Mich., Dec. 13, 2005 (PRIMEZONE) -- As insurance coverage changes in an effort to control health care costs, consumers are being asked to take a more active role in the cost and decisions about their health care. That's why Care Choices has partnered with Subimo to offer a powerful, comprehensive suite of Web-based tools that consumers can use to compare benefit plans, research health conditions, treatments and cost estimates. Subimo was recently selected by BusinessWeek readers as the "Best of the Web" for online health care decision-support web sites.
Walker Financial Corp.
Walker Financial Corporation Announces Its Analysis of Potential Product Areas to Enter Into in 2006 and Its New Corporate Office Location
GARDEN CITY, N.Y., Dec. 13, 2005 (PRIMEZONE) -- Walker Financial Corporation (OTCBB:WLKF), a marketer of insurance, financial products and other products and services which benefit the baby boomer and senior population segments, announces it will be conducting due diligence into the health care and medical related service business areas, which it may enter into during the calendar year 2006. Both of these markets represent important product areas for a large percentage of baby boomers and seniors. Mitchell Segal, President and CEO of Walker stated, "Health care and medical services are extremely important areas that concern the majority of the population segments that we seek to serve. We feel that there may be several opportunities that exist within these areas which could provide revenue and net income with corresponding shareholder value for our shareholder base. We are currently analyzing these areas for products and potential acquisition opportunities."
Major North American Automaker Orders Four More ABB TrueView Systems
VANCOUVER, British Columbia, Dec. 13, 2005 (PRIMEZONE) -- Braintech, Inc. (OTCBB:BRHI), a leading provider of vision guided robotic, ("VGR") software solutions, announced today that it has received an order from global robotics giant ABB, Inc. for four (4) Evf(tm) runtime licenses. ABB engineers will use these licenses to develop material handling systems for a major North American automaker's engine assembly plant.
Cyber Gear Wins Major Accounts in Fourth Quarter of 2005
DUBAI, United Arab Emirates, Dec. 13, 2005 (PRIMEZONE) -- Cyber Gear (www.cyber-gear.com), the largest web design company in the Middle East, has won several large accounts in the 4th quarter of 2005. According to Sharad Agarwal, CEO of Cyber Gear, "We are pleased to record a 187% increase in sales turnover this year. We are now positioned to provide global companies, all internet related services under one roof."
Aurora Oil & Gas Corporation
Cadence Resources Announces $20 Million Expansion of Credit Facility
TRAVERSE CITY, Mich., Dec. 13, 2005 (PRIMEZONE) -- Cadence Resources (OTCBB:CDNR) announced that effective December 8, 2005 the company entered into an Amended Note Purchase Agreement, through a borrowing subsidiary in its Aurora division, increasing its borrowing base under its existing credit facility to $50 million, representing an additional $20 million available for development. The additional commitment in the five-year revolving credit facility was provided by their existing mezzanine lender, Trust Company of the West ("TCW"). Funding of the first $10 Million is scheduled to occur today.