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Kingslake Energy, Inc. (Pink Sheets: KGLJ) (Wed, February 13th, 2008, 8:42am ET) Kingslake Energy, Inc. announces a four-point growth strategy. The natural gas exploration and development company's current projects are located in the prolific Appalachian Basin. The area encompasses Kentucky, Tennessee, West Virginia, and Virginia. Kingslake holds strategic oil and gas leases in Kentucky covering 20,000 acres, more or less. The natural gas rich Devonian Shale formation underlies the entire lease area.
"We have embarked on an aggressive four-point growth strategy focused on acquiring and developing promising natural gas leases while maintaining our financial strength," commented James R. Pagnum, president of Kingslake Energy, Inc. "We believe that adherence to these four principles will guide us as we continue to expand our portfolio of oil and gas properties in our mission to create sustainable, long-term growth."
The four-points of Kingslake's growth plan are:
Identify and Develop Unconventional Resources
Explore in High-potential, Proven Basins
Ensure Financial Discipline and Flexibility
Growth by the drill bit
ABOUT KINGSLAKE ENERGY INC.
Kingslake Energy, Inc. plans to become significant presence in the multi-billion dollar US natural gas exploration and production market. The Company explores and drills in the prolific Appalachian Basin, an area encompassing Kentucky, Tennessee, West Virginia, and Virginia.
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DOR BioPharma, Inc. (OTCBB: DORB) (Wed, February 13th, 2008, 7:00am ET) DOR BioPharma, Inc. ("DOR" or "The Company"), a late-stage drug development company, announced today that positive results for orBec (oral beclomethasone dipropionate or oral BDP) in preventing serious lung injury in patients with gastrointestinal Graft-versus-Host disease (GI GVHD), will be presented this afternoon by Jason W. Chien, MD of the Fred Hutchinson Cancer Research Center (FHCRC) at the annual Tandem Bone Marrow Transplant Meeting of the American Society for Blood and Marrow Transplantation and the International Bone Marrow Transplant Registry in San Diego. The presentation is entitled "Preservation of pulmonary diffusing capacity with oral beclomethasone dipropionate: Results from two randomized, placebo-controlled trials in allogeneic graft recipients," published in Biology of Blood and Marrow Transplantation (Volume 14, Number 2, Supplement 2). DOR is also the Sponsor of the GVHD Working Committee at the conference on Thursday, February 14.
The pulmonary data, collected by DOR in response to a specific FDA request as part of its New Drug Application (NDA) review last summer, included a comparison of patients enrolled at FHCRC in two randomized, double-blind, placebo-controlled clinical trials for the treatment of patients with acute GI GVHD. Sixty patients had been randomized to orBec and the same number to placebo. Serial Pulmonary Function Tests (PFTs) at day 80 were available from 44 and 50 patients on placebo and orBec , respectively.
Significantly fewer patients randomized to orBec (55%) had deterioration of pulmonary diffusing capacity by transplant day 80, compared to placebo (79%), p=0.02. Clinical pulmonary events from the time of randomization to 200 days afterwards were reviewed by Dr. Chien of the FHCRC Pulmonary and Critical Care Medicine Section while blinded to the randomization assignment; no patient randomized to orBec developed a non-infectious pulmonary problem during this interval, compared to 4 patients on placebo.
These data suggest that orBec (oral BDP) may have a protective effect on early decline in pulmonary diffusing capacity, which commonly occurs by day 80 after transplant because of interstitial lung injury, and that this effect is accompanied by prevention of clinical pulmonary events such as Idiopathic Pneumonia Syndrome and Bronchiolitis Obliterans. It is hypothesized that these beneficial effects on the lungs were due to delivery of the potent immunosuppressive 17-BMP (an active metabolite of BDP) to the lungs via GI mucosa, portal vein, and pulmonary artery.
"The observations presented today in San Diego are intriguing and may lead to the development of new applications of oral BDP in a host of pulmonary inflammatory disorders having significant market opportunity beyond the GI area where we are currently in late-stage development," said Christopher J. Schaber, PhD, President and Chief Executive Officer of DOR. "We will continue to secure intellectual property in this new arena and to begin evaluating the possibilities for future clinical development."
George B. McDonald, MD, Head of the Gastroenterology/Hepatology Section at the FHCRC, inventor of orBec and an expert medical advisor to DOR, stated, "When we reviewed adverse event data from the pivotal Phase 3 trial of orBec for treatment of GI GVHD following hematopoietic cell transplantation, we noted a complete absence of non-infectious pulmonary infiltrates in patients in the orBec arm, compared to 18% in the placebo arm. These infiltrates are caused by inflammation of the lungs, most likely from the donor's immune cells. This observation led to the hypothesis that orBec (oral BDP), through its potent metabolite 17-beclomethasone monopropionate (17-BMP), delivered to the pulmonary artery via the gut and portal circulation, preserves lung function after allogeneic transplantation. Data presented at the Tandem Bone Marrow Transplant meeting suggests that this hypothesis is true, as significantly fewer orBec patients from a 120 randomized, single-center patient cohort had deterioration of pulmonary diffusing capacity by transplant day 80 compared to placebo, and none of 60 orBec patients had a non-infectious pulmonary event during a 200-day observation period, compared to 4 of 60 patients in the placebo arm. These non-infectious pulmonary events are significant causes of mortality after transplantation."
Dr. McDonald continued, "While the dominant effect of oral BDP is in the gastrointestinal mucosa, where it is significantly more effective than placebo in treating GVHD, some of its active metabolite, 17-BMP, reaches the pulmonary vasculature before being cleared from the systemic circulation. Thus, oral BDP may prevent pulmonary interstitial inflammation and subsequent lung injury. This beneficial effect of BDP could be useful not only in the setting of allogeneic hematopoietic cell transplantation, but as a potential treatment for a long list of pulmonary inflammatory conditions for which effective treatments are lacking."
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Sierra Gold Corporation (Pink Sheets: SGCP) (Tue, February 12th, 2008, 8:30am ET) Sierra Gold Corporation, announced today that after four and a half years of research and exploration, the Company has extracted and sold the first-ever kilogram of alluvial gold from its holdings in the West African nation of Sierra Leone. Proceeds from the sale of the initial gold production are being used for continuing operations and will facilitate the purchase of customized equipment that will allow SGCP to advance its alluvial operation and commence the 'hard rock' phase of gold production.
Sierra Gold CEO Doug Evans commented on the progress of the company: ''The extraction and sale of our first gold production validate our years of research and exploration. Needless to say, we are extremely excited that the company has entered the production phase.'' Mr. Evans added, ''Our alluvial production, coupled with our soon-to-be initiated hard rock production, should provide significant returns on invested capital throughout the second half of 2008 and beyond. We look forward to sharing our successes with shareholders along the way.''
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WorldWater & Solar Technologies Corp. (OTCBB: WWAT) (Wed, February 13th, 2008, 3:01am ET) WorldWater & Solar Technologies Corp., developer and marketer of proprietary high-power solar systems, today announced that it has raised $35.64 million from The Quercus Trust ("Quercus") in a private placement of 20,000 shares of WorldWater Series F Convertible Preferred Stock at a price of $1,782.00 per share. Each share of the Series F Convertible Preferred Stock is convertible into 1,000 shares of WorldWater common stock. Quercus also received warrants to purchase 29 million additional shares of common stock at an exercise price of $1.815. Complete terms of the transaction will be described in a Form 8-K to be filed with the Securities and Exchange Commission.
"Thanks to the steadfast commitment of the Quercus Trust, WorldWater now has the funds critical to drive future growth," said Quentin T. Kelly, Chairman and CEO. "A portion of the financing will be utilized to complete the construction of our 50 MW production plant in Texas, which is vital to the many large awards we are now pursuing. The funds will also be used to hire staff, support global expansion, and bolster our R&D. WorldWater is clearly positioned for a strong 2008 and, with the acquisition of ENTECH now complete, ramping up to meet the rapidly-developing demand for solar energy worldwide."
Prior to February 8, 2008, The Quercus Trust and its affiliates owned shares of WorldWater common stock and preferred stock convertible into shares of WorldWater common stock representing approximately 11.5% of the equity ownership in the Company on a fully diluted basis. With this agreement, the Quercus Trust and its affiliates will own approximately 24.1% of the equity ownership in WorldWater on a fully diluted basis.
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