


ImmunoGen, Inc. engages in the research and development of antibody-based anticancer therapeutics in the United States. The company develops its product candidates using its Targeted Antibody Payload (TAP) technology. Its products include Trastuzumab-DM1, a Phase III clinical trial product for the treatment of advanced HER2+ breast cancer; lorvotuzumab mertansine (IMGN901), a Phase I clinical trial product to treat various tumor types, including small-cell lung cancer, ovarian cancer, Merkel cell carcinoma, and the liquid tumor, multiple myeloma; SAR3419, a Phase I clinical trial product for the treatment of non-Hodgkin’s lymphoma and other B-cell malignancies; and IMGN388 and BIIB015, which are in Phase I clinical trials for the treatment of solid tumors.
– Event triggers $2 million payment from Bayer HealthCare Pharmaceuticals –

ImmunoGen, Inc. (Nasdaq:IMGN), a biotechnology company that develops targeted antibody-based anticancer products using its antibody expertise and Targeted Antibody Payload (TAP) technology, announced that Bayer HealthCare Pharmaceuticals’ submission of an Investigational New Drug (IND) application for the TAP compound, BAY 94-9343, triggers a $2 million milestone payment to ImmunoGen.
BAY 94-9343 is in development by Bayer HealthCare under an agreement with ImmunoGen that grants Bayer HealthCare exclusive rights to use the Company’s maytansinoid TAP technology to develop anticancer therapeutics that target mesothelin. Under this agreement, ImmunoGen is entitled to receive milestone payments potentially totaling up to $170.5 million for each resulting product plus royalties on sales.
“BAY 94-9343 is a promising therapeutic for mesothelin-expressing cancers,” commented Daniel Junius, ImmunoGen President and CEO. “In addition to BAY 94-9343, we expect five other TAP compounds to advance into clinical testing in next twelve months – two developed and wholly owned by ImmunoGen and three through our collaborations with other companies. Overall, we anticipate that there will be twelve TAP compounds in the clinic by this time next year.”
Mesothelin is highly expressed on mesotheliomas and on many ovarian and pancreatic carcinomas.(1) BAY 94-9343 consists of a Bayer HealthCare antibody that targets mesothelin with ImmunoGen’s DM4 cancer-cell killing agent attached using one of the Company’s engineered linkers. In preclinical testing, BAY 94-9343 demonstrated potent, targeted anticancer activity against mesothelin-expressing tumors.(2)
More information about ImmunoGen can be found at www.immunogen.com.
(1)Mesothelin, Encyclopedia of Cancer, 2009.
(2)102nd Annual Meeting of the American Association for Cancer Research, 2011 (abstract #1754).
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Garmin Ltd. (Nasdaq:GRMN) at Garmin Ltd.’s annual shareholders’ meeting, approval was received from the shareholders in accordance with Swiss corporate law for a cash dividend in the amount of $2.00 per share (subject to possible adjustment based on the total amount of the dividend in Swiss Francs as approved at the annual meeting). The dividend is payable in four installments with $1.60 payable in the Company’s 2011 fiscal year as follows: $0.80 on June 30, 2011 to shareholders of record on June 15, 2011, $0.40 on September 30, 2011 to shareholders of record on September 15, 2011, $0.40 on December 30, 2011 to shareholders of record on December 15, 2011 and $0.40 on March 30, 2012 to shareholders of record on March 15, 2012.
Garmin Ltd. operates as a holding company and through its subsidiaries, designs, develops, manufactures, and markets global positioning system (GPS) enabled products and other navigation, communication, and information products worldwide.
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VIASPACE Green Energy, Inc. (VSPC)
Biofuels are renewable, meaning their sources can be regrown. Advanced biofuels can offer environmental benefits such as lower carbon emissions and lower sulfur compared with first-generation biofuels and conventional petroleum-based fuels.
VIASPACE is a clean energy company providing products and technology for renewable and alternative energy that reduce or eliminate dependence on fossil and high-pollutant energy sources. Through its majority-owned subsidiary, VIASPACE Green Energy Inc., the Company grows Giant King Grass as a low-carbon fuel for electricity generating power plants, as a feedstock for bio methane production and cellulosic biofuels such as ethanol and butanol, and for biochemicals and bioplastics. For more information, please go to www.viaspace.com or www.viaspacegreenenergy.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@VIASPACE.com.
VIASPACE Inc. (OTC Bulletin Board:VSPC), and its renewable energy subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board:VGREF) announced that their Green Log™ brand fireplace and campfire logs were exhibited at the National Hardware Show held in Las Vegas, Nevada from May 10-12, 2011. The National Hardware Show is an annual gathering of buyers and sellers in specialties such as hardware tools, lawn and garden, and outdoor living. The trade show was an ideal venue for the Company’s Green Log to be presented. Many of the major players in the fire log industry also exhibited at the show.
Chief Executive Carl Kukkonen stated, “The Green Log is a product that we have spent a lot of time and effort in developing. We believe the Green Log is the most eco-friendly fire log product on the market, and at the trade show, we were able to educate people about the many benefits of the Green Log.”
Mr. Sung Chang, President of VIASPACE Green Energy added, “The National Hardware Show allowed us to get the Green Log name out there. Many prospective customers were at the trade show along with our competitors in the fire log industry. From what was seen at the trade show, our competitors have already identified VIASPACE as a viable contender in the fire log industry. Potential buyers of the Green Log have expressed interest in our product and we are following up with them.”
The Green Log is VIASPACE’s first commercial product made with Giant King Grass. The fire log is a renewable and sustainable product as opposed to other artificial fire logs that are made with petroleum-based materials and trees that take decades to fully grow. The product takes just 3 minutes to fully light, and it burns for up to 5 hours.
Information on Green Logs is available on the VIASPACE website www.VIASPACE.com. A video about Green Logs was produced for use at the National Hardware Show and can be seen at the following link:
For more information, please go to www.viaspace.com
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Cleantech Transit, Inc. (CLNO)
Cleantech Transit, Inc. is in the business of producing and conserving power. They produce and sell clean electricity globally, with a focus on sustainable energies using renewable resources such as Geothermal, Solar and Wind. Cleantech Transit, Inc goal is to use innovative technologies to reduce electricity consumption and dependence on carbon based energy.
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company’s manufacturing clients worldwide.
Biomass is any recent plant or animal organic matter. Coal and oil fossil fuels are fossilized biomass. Biomass energy can be produced from plants, wood, residues (for example sawdust and bagasse, or sugar cane residue, after crushing) and animal wastes.
During photosynthesis, solar energy and carbon dioxide are stored in plants. When biomass is burned carbon dioxide and energy are released, which is the reverse of photosynthesis.
Traditional biomass use includes wood and charcoal for fuel. Modern biomass use is concerned with finding substitutes for fossil fuels. Agricultural crops, such as sugar cane, corn, sunflower seeds and soy beans, can be grown for use as energy sources called biofuels, which can be used in motor vehicles. These plants are used to make ethanol (an alcohol) in the same way that ethanol is made for alcoholic drinks. The plants are crushed and mixed with yeast, which converts starches to ethanol.
Cleantech Transit Inc. is pleased to provide additional details after achieving success on the 500 KW facilities and successfully moving past the interconnection testing stage.
Coming on the recent success at the 500KW facility in Merced, California this poises Phoenix Energy to become a leading developer of renewable biomass distributed generation plants that utilize local resources for local energy.
Currently there are two additional projects being pre-certified by Phoenix Energy in California. The projects are each projected to be 1 MW biomass gasification facilities that will provide both electricity and process heat energy. Each facility will provide enough electricity to power approximately 800 homes as well as process heat to be used in drying agricultural products. The projects are expected to complete by the end of 2012.
Cleantech will be providing details on the expecting closing date of its initial investment into Phoenix Energy in the coming weeks.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
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Spectrum Pharmaceuticals, Inc. (Nasdaq:SPPI) announced the promotion of Steven M. Fruchtman, MD, to the position of Vice President and Chief Medical Officer, and Nozar Azarnia, PhD, to the position of Vice President of Biostatistics and Data Management. Dr. Fruchtman will report directly to Rajesh C. Shrotriya, MD, Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals. His new responsibilities include clinical research, clinical affairs, preclinical research, biostatistics, data management and regulatory affairs, in addition to managing the Company’s clinical development of belinostat, apaziquone, and its other pipeline products and indications. Dr. Azarnia will report directly to Dr. Fruchtman and will be responsible for all statistical and data management support, from design of clinical trials through marketing applications.
Spectrum Pharmaceuticals, Inc. operates as a commercial-stage biotechnology company with a primary focus in oncology and hematology.
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Diodes Incorporated (Nasdaq:DIOD) updated its guidance for the second quarter of 2011. The Company is maintaining its revenue guidance for the second quarter of 2011 as it anticipates revenue to range between $170 million and $178 million, an increase of 5 to 10 percent sequentially. The Company is lowering its gross margin guidance to 32.5 percent plus or minus 1.5 percent, versus its previous guidance of comparable to the first quarter. Gross margin is being impacted by a mix shift due to a softening of demand and the slower than expected recovery from the previously disclosed manpower shortages at the Company’s China packaging facilities. The previous guidance for operating expenses, tax rate and shares used to calculate GAAP EPS remains unchanged.
Diodes Incorporated, together with its subsidiaries, engage in the manufacture and distribution of semiconductor products to manufacturers in the communications, computing, consumer electronics, industrial, and automotive markets worldwide.
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