CORAL GABLES, FL / ACCESSWIRE / January 31, 2019 / The biotech stock market has evolved over the years in tandem with new technologies designed to tackle the world's most threatening diseases. Though the field of biotech is relatively new, companies in the industry have gone to g great lengths to prove that their products are capable of driving medical progress through advancements in personalized medicine. As a result of these developments, the biotech industry has seen an influx of investor excitement as well as consumer trust in the products being released. Premier Health Group (OTC: PHGRF) (CSE: PHGI), SCYNEXIS Inc (NASDAQ: SCYX), Geron Corporation (NASDAQ: GERN), and Fortress Biotech Inc (NASDAQ: FBIO) represent four biotech companies creating new treatment technologies aimed to ensure that patients get the therapies best suited to their needs.
Premier Health Group (OTC: PHGRF) (CSE: PHGI) is a company focused on developing nuanced approaches to healthcare that combine human skill-based expertise with state-of-the-art technologies used throughout the healthcare industry to create the best-possible care solutions for their growing patient network. The Company has seen impressive gains over the last few months as a result of momentum gained from several key strategic investments meant demonstrate Premier's dedication to revolutionizing how we treat patients with specific conditions, genetic makeups, and other health characteristics.
Premier Health Group (OTC: PHGRF) (CSE: PHGI) announced earlier this week that, further to its news release dated January 10, 2019, the Company has acquired all outstanding securities of Cloud Practice Inc. As a result of the acquisition, Cloud Practice's Founders, including CEO Jordan Visco, and entire support team, consisting of several software developers and sales staff, will join and work alongside the Premier Health team to offer tools and resources providing for better efficiency on a day-to-day basis for both physicians and customers.
Per the official details of the agreement, Premier will pay to the Cloud Practice shareholders total consideration of up to $5 million, $2 million dollars in cash to be paid out as follows: (i) $500,000 paid in cash on signing of the binding LOI as a refundable deposit, (ii) $500,000 in cash payable on closing, (iii) $500,000 in cash payable 90 days after closing, (iv) $500,000 in cash payable within six months of the LOI subject to the satisfaction of certain milestones related to the integration of the Juno EMR, and $3 million payable in common shares of Premier at a deemed price of $0.76 per share.
Dr. Essam Hamza, CEO of Premier Health Group (OTC: PHGRF) (CSE: PHGI), commented, ''we are very excited to have completed this acquisition and to have the experienced team at Cloud Practice join the team at Premier Health. With this acquisition, we now have a medical software company with national reach. Thus, enabling us to build on our patient-centric technology platform that will integrate telemedicine, online booking, and other premium services with our electronic medical records (EMR) system.''
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SCYNEXIS Inc (SCYX), a biotech company working to deliver innovative therapies for life-threatening infections, yesterday announced positive results from one of the first analyses done on their ongoing FURI study. FURI is a Phase 3 open-label study evaluating oral ibrexafungerp as a salvage treatment in patients with difficult-to-treat mucocutaneous and invasive fungal infections that are refractory to or intolerant of currently available standards of care.
Following the announcement of these results, Dr. Marco Taglietti, Chief Executive Officer of SCYNEXIS, commented, ''first, we fulfilled our ethical responsibility to justify the testing of oral ibrexafungerp in this patient population. Second, we showed that ibrexafungerp, administered orally, is effective in treating mucocutaneous and invasive fungal infections that do not respond to other therapies, including those administered intravenously.''
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Geron Corporation (GERN) announced several key leadership decisions earlier this month as the Company has been working to restructure their in-house development team to further support its plans to initiate a Phase 3 clinical trial of imetelstat in lower risk myelodysplastic syndromes by mid-year 2019.
Per the details of the announcement, Israel Gutierrez, M.D., has joined the Company as Vice President, Pharmacovigilance and Drug Safety, as of earlier this month. He will be tasked with leading and directing the oversight of clinical drug safety risk management and compliance at Gerona and will be responsible for product safety-related recommendations and decisions.
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Fortress Biotech Inc (FBIO), a biopharmaceutical company dedicated to acquiring, developing, and commercializing innovative pharmaceutical and biotech products, today announced that Caelum Biosciences Inc, founded by Fortress, has signed a strategic agreement with Alexion Pharmaceuticals Inc to advance the development of CAEL-101 for light chain (AL) amyloidosis. CAEL-101 is a first-in-class amyloid fibril targeted therapy designed to improve organ function by reducing or eliminating amyloid deposits in patients with AL amyloidosis.
In a press release regarding the agreement, Lindsay A. Rosenwald, Fortress' Chairman, President, and Chief Executive Officer, said, ''This collaboration with Alexion, a global leader in the rare disease field, is a testament to the Fortress team's expertise in identifying and developing promising treatments to their full potential. Fortress founded Caelum in January 2017 on the potential of CAEL-101, with the goal of improving treatment options for patients with AL amyloidosis.''
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