Proteonomix, Inc. (PROT.OB)
PROT, a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC ("XGen") towards implementing operations in the United Arab Emirates (U.A.E.).
PROT is the majority shareholder in XGen with the balance held by an anonymous investor group. PROT personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting PROT personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
It was further announced that XGen has expanded its talks within the region beyond a license for manufacture of and treatment with PROT cellular material. Discussions are now further encompassing both the construction of XGen's own manufacturing and treatment facility within the U.A.E. and on funding phased trials for one or more of PROT's proprietary cellular materials for treatment of disease.
PROT CEO, Michael Cohen commented that "The business environment in the U.A.E. is very receptive to Proteonomix and our medical technologies. There is an intense focus on high quality public medical care as well as cutting edge technology. When combined with the rebounding financial condition within the region, we are very pleased to have this opportunity to conduct business in a growing location for medical advancement."
PROT, a biotechnology company, engages in the development of stem cell therapies primarily for the treatment of diabetes and cardiac therapy, as well as offers cosmeceutical products. The stem cell therapy involves the introduction of healthy new stem cells to repair and replace damaged or lost cells. It offers product for the treatment of anti-aging and damaged skin. PROT develops cosmetic products using its technologies, Secreted Matrix and Matrix NC-138 that is a stem cell derived proteins technology. PROT is also involved in the operation of retail Web site, Proteoderm.com to sell its anti-aging line of skin care products; develops therapeutic modalities for the treatment of cardiovascular disease; and engages in the reproductive tissue banking, including sperm, ova, ovarian tissue, and testicular tissue. In addition, PROT develops intellectual properties for patent applications, including a medium and scaffolding for enhancing the growth of stem cells, a growth platform for stem cells, a cord blood banking cryopreservation bag, and a device to eliminate malformed stem cells via filtration. Further, PROT is developing pre-clinical-stage therapeutic agents and treatments for cancer, diabetes, heart, lung, and kidney diseases, as well as for stem cell bone marrow and organ transplants. PROT was formerly known as National Stem Cell Holding, Inc. and changed its name to Proteonomix, Inc. in August 2008. PROT was founded in 2005 and is based in Mountainside, New Jersey.
To learn more about PROT visit: http://www.proteonomix.com
Kandi Technologies, Corp. (NASDAQ:KNDI)
KNDI, a leading Chinese exporter of recreational vehicles, developer of the "COCO" all electric LSV, and a leader in Electric Vehicle (EV) development in China, announced recently substantial year over year advances in revenues and net income for its second quarter and six months ended June 30, 2010.
KNDI, through its subsidiaries, engages in the design, development, manufacture, and commercialization of off-road vehicles, motorcycles, mini-cars, and special automobile related products. KNDI's off-road vehicles include all-terrain vehicles, specialized utility vehicles, and go-karts. KNDI sells its products through third-party and independent distributors in the People's Republic of China, Asia, North America, Europe, and Australia. KNDI is based in Jinhua, the People's Republic of China.
To learn more about KNDI visit: http://www.kandivehicle.com
Kansas City Southern (NYSE:KSU)
KSU will release its financial results for third quarter 2010 on Tuesday October 26, 2010, before the opening of trading on the New York Stock Exchange. KSU will also hold its third quarter 2010 earnings conference call on Tuesday October 26, 2010 at 8:45 a.m. Eastern time. Shareholders and other interested parties are invited to participate via live webcast or telephone.
KSU, through its subsidiaries, engages primarily in the freight rail transportation business. KSU operates north/south rail between Kansas City, Missouri, and various ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi, and Texas in the midwest and southeast regions of the United States. KSU was formerly known as Kansas City Southern Industries, Inc. and changed its name to Kansas City Southern in 2002. KSU was founded in 1962 and is based in Kansas City, Missouri.
To learn more about KSU visit: http://www.kcsouthern.com
KAR Auction Services, Inc. (NYSE:KAR)
KAR today announced its participation in the following investor conference which will also be available via live audio webcast:
Deutsche Bank 2010 Leveraged Finance Conference
Eric Loughmiller, Chief Financial Officer & Executive Vice President and Jonathan Peisner, Vice President and Treasurer will speak on Wednesday, October 6th at 3:30 pm (MST)
Webcast of the presentation will be made available under the investor relations section of KAR's web site,
KAR, through its subsidiaries, provides vehicle auction services in North America. KAR operates in three segments: ADESA Auctions, IAAI, and AFC. KAR was formerly known as KAR Holdings Inc. and changed its name to KAR Auction Services, Inc. in November 2009. KAR was founded in 2006 and is headquartered in Carmel, Indiana. KAR is a subsidiary of KAR Holdings II, LLC.
To learn more about KAR visit: http://www.karholdings.com
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