Biotechnology Market Report From Pennytobuck.com - Prot And Maxy
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Stem Cell treatments have been identified for a variety of diseases some 80 diseases have already been identified that Stem Cells could benefit.
Mr. Michael Cohen, Chairman and CEO of Proteonomix, Inc. (PROT.OB), stated, We have no doubt that stem cell therapies will be a major factor in combating a variety of medical conditions but it is essential that it be undertaken only after the clinical results determine that such a course of action is efficacious. Too much hype about cures for all types of diseases is diminishing the potential value of stem cells and could unduly delay future progress in stem cell treatments and research. Medical tourism is not a dirty word, if established in an ethical and professional manner.
With this in mind; PROTEONOMIX, a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced on August 6, that it has formed a new subsidiary called X Gen Medical LLC, a Nevis Virgin Island entity. X Gen Medical has been established with the intention of conducting business in the global medical marketplace. Proteonomix plans on utilizing X Gen Medical to serve as a platform for joint ventures with medical facilities worldwide. It is anticipated that new relationships formed with X Gen Medical will create medical facilities capable of not just attracting treatments locally, but also acting as hubs for medical tourism. Medical tourism is constantly on the rise and anticipated to continue to grow substantially due to current high costs of health care for certain procedures and improvements in both technology and standards of care in many countries
This is a biotech company that may be one of the leaders in this field in my opinion; you may want to add them to your radar screen.
Last Trade: 2.10
Change: 5.00%
Volume: 20,989
More about PROT at: www.proteonomix.com
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Maxygen, Inc. (Nasdaq:MAXY), a biopharmaceutical company focused on developing improved versions of protein drugs through both internal development and external collaborations and other arrangements, today announced financial and business results for the quarter ended June 30, 2010.
Maxygen reported net income attributable to Maxygen, Inc. of $1.5 million, or $0.05 per basic and diluted share, for the second quarter of 2010, compared to a net loss attributable to Maxygen, Inc. of $5.9 million, or $0.15 per basic and diluted share, for the second quarter of 2009. Net income for the second quarter primarily reflects an increase in revenues received by Perseid Therapeutics LLC, a majority owned subsidiary, under its collaboration agreements with Astellas Pharma Inc., pursuant to which the parties are collaborating on the discovery, research and development of multiple protein pharmaceutical programs, including Perseids CTLA-4 Ig program (designated as the MAXY-4 program).
Maxygen is a biopharmaceutical company focused on developing improved versions of protein drugs through both internal development and external collaborations and other arrangements. Maxygen uses its proprietary DNA shuffling technology and extensive protein modification expertise to pursue the creation of biosuperior proteins.
Last Trade: 5.97
Change: 1.36%
Volume: 157,662
To learn more about visit: http://www.maxygen.com
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by: Bill Pennyman
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