The uptick in volume and share value is being fueled in part by the Canadian-based company’s announcement that it has entered into a share exchange agreement with Experion Biotechnologies Inc.
Experion and Abattis’ wholly owned subsidiary Northern Vine have exchanged 25% of each parties' issued and outstanding common shares. Abattis maintains a 75% ownership in Northern Vine.
To Capitalize On Medical Marijuana
Experion is located in Greater Vancouver and is nearing the completion of its Marijuana for Medical Purposes Regulations "MMPR" license application with Health Canada. Together, Northern Vine and Experion are well positioned to capitalize on the growing trend towards marijuana legalization in the United States and medical use in Canada as licensed producers.
Northern Vine, a lab and compounding pharmacy with patented compositions, owns various Natural Health Product licenses for use in the nutraceutical markets. Northern Vine has one remaining outstanding item to complete as required by Health Canada in respect of its controlled substance license application.
It is anticipated that Experion will provide cannabis for Northern Vine's research and development activities upon receiving its MMPR license. Experion will also allocate a portion of its 10 acre site for the expansion of Northern Vine's future processing facility and any expansion requirements needed to satisfy cultivation demand in the foreseeable future.
CEO of Abattis Mike Withrow, President and stated: “This is a strategic partnership that links our pending Controlled Substance Licensee to another MMPR Application in order to further expand our business potential.
On Apr 16, ATTBF’s share price closed at $1.07, up 32 cent, or 42.13%, from its closing price of 75 cents the previous day.
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Advanced Cell Technology Discovers New Way to Replenish Mesenchymal Stem Cells
In other news, Advanced Cell Technology Inc. (OTCQB: ACTC),a biotechnology company focused on developing and commercializing human embryonic and adult stem cell technology, announced that it has discovered a new method to generate a potent and replenishable population of mesenchymal stem cells (MSCs) from pluripotent stem cells.
The Marlborough, Mass.-based company’s research appears online ahead of print in Stem Cell and Development, one of the top stem cells journals, published by Mary Ann Liebert Inc. This new and proprietary population of pluripotent stem cell-derived MSCs displays potent immunomodulatory and therapeutic properties and has a greater than 30,000 fold proliferative capacity, relative to ordinary bone marrow-derived MSCs, the most commonly used source for MSCs in clinical trials.
On Apr. 16, ACTC’s share price closed at 27 cents, up 3 cents from the previous day’s close of 24 cents a share.
FDA Grants Needed Extension on MannKind’s Insulin Therapy Review
Meanwhile, MannKind Corp. (NASDAQ:MNKD) announced that the Food and Drug Administration (FDA) has extended the Prescription Drug User Fee Act (PDUFA) date for AFREZZA by three months to Jul.15, 2014 in order to provide time for a full review of information submitted by MannKind in response to the FDA's requests.
AFREZZA (uh-FREZZ-uh) is a novel, ultra rapid-acting mealtime insulin therapy developed by MannKind Corporation to improve glycemic control in adult patients with type 1 or type 2 diabetes. It is a drug-device combination product, consisting of AFREZZA Inhalation Powder delivered using a small, discreet and easy-to-use inhaler. Administered at the start of a meal, AFREZZA Inhalation Powder dissolves immediately upon inhalation to the deep lung and delivers insulin quickly to the bloodstream. Peak insulin levels are achieved within 12 to 15 minutes of administration, compared to 45-90 minutes for injected rapid acting insulin analogs and 90-150 minutes for injected regular human insulin.
Of the 5 analyst firms covering MNKD, 1 rates it a "strong buy," 3 a “hold” and 1 an "underperform."
On Apr. 16, MNKD’s share price closed at $6.39, up 11 cents from the previous day’s close of $6.28 cents a share.
Medizone International Inc. Appoints New Board Member
Finally, Medizone International Inc. (OTCQB: MZEI) share volume soared Apr. 16, with 2,026,548 changing hands, more than five times its average three-month volume of 498,779 shares.
The Sausalito-based company designs, manufactures and sells a patented system using ozone in the disinfection of surgical and other medical treatment facilities.
Its recent surge in stock volume could be triggered in part by the company’s recent announcement of the addition of David Esposito to its board of directors
According to Medizone, it made the move in anticipation of full U.S. regulatory approval of the company's AsepticSure(R) hospital disinfection system.
"As Medizone International continues to move forward with our growth strategy, it is important that we continue to attract talented commercial leaders to help the organization reach its potential in establishing the AsepticSure system as the new gold standard for disinfection across a wide range of commercial applications," said CEO of Medizone International Edwin Marshall. "As we prepare for the global commercialization of the AsepticSure system, we are pleased to announce that David Esposito has joined our Board of Directors to help support our commercial strategy and business development initiatives,” he added.
Esposito has tremendous commercial experience as a senior executive in both the pharmaceutical and medical diagnostic markets.
Over a 15-year career with Merck & Co., Esposito played key roles in sales, marketing, and commercial strategy. Esposito, as the former President and General Manager of Phadia US Inc., a leading specialty diagnostics company, helped drive significant growth in the US market and was a key member of the Phadia Leadership Team that successfully sold the business to Thermo Fisher Scientific for $3.5 Billion USD in 2011.
Post the acquisition, Esposito led the US Commercial Operations for a division of Thermo Fisher Scientific. Prior to his commercial success in the healthcare marketplace, David graduated from the United States Military Academy at West Point with a BS in Civil Engineering. As an Infantry Platoon Leader with the 101st Airborne Division, Esposito was awarded a Bronze Star during the Persian Gulf War. David also holds a Master of Business Administration from Syracuse University.
On Apr. 16, MZEI’s share price closed at 6 cents, unchanged from the previous day’s close of 24 cents a share.
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