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Novelos Therapeutics, Inc. (OTCBB: NVLT) (December 19, 2007, 4:00pm ET) Novelos Therapeutics, Inc., a biopharmaceutical company focused on the development of therapeutics to treat cancer and hepatitis, today announced that Novelos signed an exclusive license agreement with Lee's Pharmaceutical (HK) Ltd (which is 30% owned by Sigma-Tau Group through Defiante Farmaceutica Lda) to develop and commercialize in China, including Hong Kong and Macau, as well as in Taiwan, two of Novelos' compounds: NOV-002 for cancer and NOV-205 for hepatitis. NOV-002 is Novelos' lead compound in pivotal Phase 3 trial for non-small cell lung cancer under a Special Protocol Assessment (SPA) and Fast Track.
Lee's Pharmaceutical ("Lee's Pharm") will be responsible for the cost of all clinical development, regulatory submissions and commercialization of NOV-002 and NOV-205 in China. In addition to upfront and milestone payments, Novelos will receive 20-25% royalties from Lee's Pharm on net sales of NOV-002 and 12-15% royalties on net sales of NOV-205.
"I am very pleased to be collaborating with Lee's Pharm, a vibrant public company that has a proven track record of developmental and commercialization expertise in China," said Harry Palmin, President and CEO of Novelos. "The significant royalties allow Novelos greater participation in China's rapidly growing marketplace, particularly in critical disease areas of cancer and hepatitis. This deal also marks the commencement of Novelos' ex-US partnering initiative."
"We are excited about the opportunity to work with Novelos on its two exciting compounds NOV-002 and NOV-205," said Dr. Benjamin Li, CEO of Lee's Pharm. "With over 1.7 million people being diagnosed with cancer each year and over 120 million people being infected with hepatitis B virus, both cancer and hepatitis B are major health problems facing China today. Better treatment options are badly needed in those areas and the market potential for innovative and effective treatment will be enormous."
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Telemedicus, Inc. (Pink Sheets: TMDI) (December 19, 2007, 8:00am ET) Telemedicus, Inc. will begin final testing of its technology for fixed/remote and ambulance based systems in anticipation of market launch in early 2008.
"This is a big milestone for the company as we commercialize this exciting technology. We have completed the base model and unit configurations, and we can now add peripherals to the base system for customers who want more features. Because the systems are modular, Telemedicus can launch multiple platforms and support them in the field," said Thomas Cloud, CEO of Telemedicus.
Telemedicus' Disaster Relief and Emergency Medical Services DREAMS technology turns practically any ambulance or medical transportation vehicle into a mobile trauma center. The doctor is able to provide treatment immediately through the medical technician because the doctor can see the patient and diagnostic data through the Telemedicus system.
The design and development of the next generation of this life saving technology will be completed by Texas A&M, the original developers of the DREAMS technology. The next generation of medical technology is coming to your neighborhood where a patient will be treated through the Telemedicus DREAMS technology.
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GoldSpring, Inc. (OTCBB: GSPG) ( December 19, 2007, 2:52pm ET) GoldSpring, Inc. announced that it has entered into an agreement with Orbit Garant Drilling, Inc., one of the largest drilling companies in North America, to perform exploration and developmental drilling at its Comstock Lode Project. The drill rig and crew are scheduled to arrive today, and the Company expects drilling to commence this week.
GoldSpring's COO, James Golden, said, "During the past several months we have been studying the geological data of the Comstock District and delineating ore bodies to determine the most advantageous drilling strategy. The results of our study allowed us to develop a drilling program which is anticipated to increase our mineral reserves and provide the necessary data to complete our mine plan and reserve report for the Hartford Complex. Our Phase 1 Drilling program is the next step in our preparatory plan for mining operation resumption in 2008."
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Dixie Lee International Industries, Inc. (Pink Sheets: DLII) Dixie Lee International Industries, Inc., parent company of the 40 year old "Dixie Lee" brand name, with more than 80 franchised restaurants open, announced today that it will soon offer a line of healthy pasta dishes to complement its current line of salads.
The six pasta product lines have been developed in such a way that the speed of service will not be compromised. Dave Silvester, Executive Vice President, stated, "The added line up will give our consumers an additional choice of healthier products and will complement the current salad lines that we offer in all Dixie Lee Chicken Restaurants currently."
The lines to be added include Chicken Alfredo with (low calorie) cream sauce, Lasagna Florentine with Spinach, Chicken Parmesan and Spaghetti with Meatballs. "And with cold weather settling in, our folks will appreciate these 'hot' new entrees," said Silvester. "We've been monitoring the growth in popularity of Italian (pasta) dishes for some time, and now's the right time for Dixie Lee to dish it up."
This new lineup will be backed up with a custom mail out campaign, supported with in-house Point of Sale (POS) materials.
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