Great News Today For Ptv And Prot Be Sure To Keep An Eye On Them For August 18th, 2010
Proteonomix, Inc.; PROT
Proteonomix, Inc.; PROT
Last Trade: 2.85
Volume:16,575
Change 21.28%
Proteonomix, Inc. (OTCBB:PROT) entered into an agreement with a group of investors that will create a new stem cell treatment and research facility in the United Arab Emirates (U.A.E.). The Investor Group has committed to invest $5 million on or before September 10,2010. The Joint Venture company, XGen Medical LLC ("XGen"), a Nevis Island limited liability company, will be owned 51% by Proteonomix and 49% by the Investor Group.
The Investor Group's $5 million cash investment includes the purchase of $1 million of cellular material from Proteonomix.
Additionally, as part of the agreement PROT will license to XGen, both a use and treatment license in the U.A.E., as well as a license to manufacture the cellular material.
The agreement calls for PROT, through its wholly owned subsidiary, StromaCel, Inc. to receive $ 7,500 per treated patient.
There is also provision made for the distribution of Proteoderm, PROT's new Anti-aging line of skin care products. including Proteoderm's Matrix NC-138 (click here) anti-aging products.
XGen will maintain exclusive distribution rights of Proteoderm in the U.A.E. provided the Joint Venture purchases a minimum order of 5,000 units the first year, and increases purchases at a rate of 20% per annum until reaching 10,000 units per year.
About Proteonomix, Inc.:
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteoderm, Inc. is a wholly owned subsidiary of Proteonomix that has recently opened its retail web site, Proteoderm.com, and begun accepting pre-orders for its anti-aging line of skin care products. StromaCel, Inc.'s goal is the development therapeutic modalities for the treatment of Cardiovascular Disease (CVD). StromaCel, Inc. is pursuing the licensing of other technologies for therapeutic use. National Stem Cell, Inc. is Proteonomix's operating subsidiary. The Sperm Bank of New York, Inc. is a fully operational tissue bank. Proteonomix Regenerative Translational Medicine Institute, Inc. ("PRTMI") intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies. Please also visit http://www.proteonomix.com/, http://www.proteoderm.com/, http://www.otcmarkets.com/ and http://www.sec.gov/.
Pactiv Corporation;PTV
Pactiv Corporation (NYSE:PTV), a leader in the consumer and foodservice packaging markets, has reported it has entered into a definitive merger agreement to be acquired by Reynolds Group Holdings Limited, a leading global manufacturer and supplier of consumer food and beverage packaging and storage products headquartered in Chicago, Illinois, in a transaction valued at approximately $6 billion.
Reynolds is a wholly owned subsidiary of New Zealand-based Rank Group Limited, which is owned by Graeme Hart.
PTV shareholders will receive $33.25 in cash for each share of PTV common stock held.
PTVs board of directors unanimously approved the merger agreement and will recommend that Pactivs common shareholders approve the transaction.
Pactiv is an outstanding company. It is a clear leader in its markets as a result of its broad product line and unique distribution system. I am excited about the opportunity to grow Pactivs foodservice and Hefty consumer businesses and to be associated with the people who have made it such a successful company over the years. I am very pleased to add these businesses to our packaging group, remarked Graeme Hart.
Pactiv has been a leading performer in its industries since it became publicly held in 1999. We are proud of what we have accomplished, and we are excited to join with Reynolds consumer and foodservice businesses to grow and add more capabilities for our customers. All of the Pactiv team takes pride in the fact that we have been able to create the shareholder value released by this transaction, and we are pleased to join a group that is committed to the growth of both its packaging and consumer businesses, said Richard L. Wambold, Pactivs chairman and chief executive officer.
About Pactiv
Pactiv Corporation (NYSE:PTV) is a leader in the consumer and foodservice/food packaging markets it serves. With 2009 sales of $3.4 billion, Pactiv derives more than 80 percent of its sales from market sectors in which it holds the No. 1 or No. 2 market-share position. Pactivs Hefty brand products include waste bags, slider storage bags, disposable tableware, and disposable cookware. Pactivs foodservice/food packaging offering is one of the broadest in the industry, including both custom and stock products in a variety of materials. For more information, visit www.pactiv.com.
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Great News Today For Ptv And Prot Be Sure To Keep An Eye On Them For August 18th, 2010