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PennyPerformers.com: "Penny Stocks that Perform" pick for today: Sinobiopharma, Inc. (SNBP) Phase IV Multi-center Clinical Study of Kutai Concludes in Nanjing
March 24, 2009 | M2 PressWIRE
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Source:M2 PressWIRE
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Mar 24, 2009 -- Allos Therapeutics, Inc. (NASDAQ: ALTH), a biopharmaceutical company focused on developing and commercializing innovative new drugs for the treatment of cancer, today announced the appointment of David M. Stout, former President, Pharmaceuticals at GlaxoSmithKline, to the Company's Board of Directors.

"We are pleased to welcome David to our Board of Directors and look forward to benefiting from his guidance and contributions," said Paul L. Berns, President and CEO of Allos. "David's 30-plus years of experience in the pharmaceutical industry will be valuable as we approach the potential commercialization of pralatrexate for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma and continue to drive our product development and commercialization plan for pralatrexate in both hematologic malignancies and solid tumors."

Mr. Stout, age 54, served most recently as President, Pharmaceuticals at GlaxoSmithKline, where he was responsible for the company's global pharmaceutical operations, from January 2003 to February 2008. Prior to that, he served as President, U.S. Pharmaceuticals at GlaxoSmithKline from 1999 to January 2003. He served as Senior Vice President and Director, Sales and Marketing-U.S. for SmithKline Beecham from 1996 to 1998. Prior to that, Mr. Stout was President of Schering Laboratories, a division of Schering-Plough Corporation, from 1994 to 1996. Mr. Stout also held various executive and sales and marketing positions with Schering-Plough Corporation from 1979, when he joined the company, until 1994. Mr. Stout is a director of Airgas, Inc.

About Allos Therapeutics, Inc.

Allos Therapeutics is a biopharmaceutical company focused on developing and commercializing innovative small molecule drugs for the treatment of cancer. In February 2009, the Company announced the final results from PROPEL, the Company's pivotal Phase 2 (PROPEL) trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma (PTCL). The PROPEL trial was conducted under an agreement reached with the U.S. Food and Drug Administration under its special protocol assessment (SPA) process. Based on the results of the PROPEL trial, the Company intends to submit a New Drug Application to the U.S. Food and Drug Administration for pralatrexate for the treatment of relapsed or refractory PTCL in the first half of 2009. The Company is also investigating pralatrexate in patients with non-small cell lung cancer, bladder cancer and a range of lymphoma sub-types. The Company currently retains exclusive worldwide rights to pralatrexate for all indications.

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Mar 24, 2009 -- First Solar, Inc., (Nasdaq: FSLR) has entered into a 25-year power purchase agreement with Tri-State Generation and Transmission Association, Inc., a wholesale electric power supplier serving more than 1.4 million consumers through 44 electric cooperatives and public power districts in Colorado, Nebraska, New Mexico and Wyoming.

"This photovoltaic (PV) power plant is another demonstration of our ability to provide affordable, utility-scale solar solutions," said John Carrington, First Solar executive vice president of marketing and business development. "In addition to being cost-effective, the plant will create 120 to 140 construction jobs, significantly reduce green house gas emissions and provide enough power to serve the equivalent of approximately 9,000 homes."

The agreement, which represents the largest PV contract by an electric cooperative in the U.S., calls for First Solar to engineer, procure and construct (EPC) a 30 megawatt AC (MW) ground-mounted PV power plant in northeastern New Mexico.

"Our partnership with First Solar further diversifies our resource mix and brings value to our member cooperatives across our four-state service territory," said Ken Anderson, Tri-State executive vice president and general manager. "This project in New Mexico demonstrates how electric cooperatives can effectively bring utility-scale solar projects to the rural areas they serve."

The project will be the first utility-scale solar power plant in the region and is expected to be complete by the end of 2010. First Solar will provide monitoring and maintenance services for the PV power plant over the course of its lifetime. The Company expects that, upon completion of the PV power plant, it will have transferred all or substantially all of its equity interest in the project.

"This first-of-its-kind initiative is further evidence that New Mexico is a national leader in renewable energy production. I look forward to many more projects like this coming to fruition in New Mexico and across the country as we shift from fossil fuels to cleaner, green energy. I am especially pleased to see the electric coops take this major leap into renewables," said U.S. Senator Jeff Bingaman, who chairs the Senate Energy and Natural Resources Committee.

"New Mexico has world-class renewable resources and a ready workforce," said Governor Bill Richardson. "The announcement of a major new solar power plant in Colfax County is welcome news and demonstrates New Mexico's commitment to leading the nation in renewable energy development."

First Solar combines the economic benefits of low-cost technology with superior environmental performance to provide truly sustainable energy solutions.

"Projects like these represent a step toward transforming our energy future; providing solutions for both climate and the environment," said Carl Zichella, western regional director for the Sierra Club.

About First Solar

First Solar, Inc. manufactures solar modules with an advanced semiconductor technology and provides comprehensive PV solutions that significantly reduce solar electricity costs. By enabling clean, renewable electricity at competitive prices, First Solar provides an economic and environmentally responsible alternative to existing peaking fossil-fuel electric generation. First Solar PV power plants operate with no water, air emissions or waste stream. First Solar set the benchmark for environmentally responsible product life cycle management by introducing the industry's first comprehensive collection and recycling program for solar modules. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective renewable energy solutions that protect and enhance the environment.

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Mar 24, 2009 -- Life Partners Holdings, Inc. (NASDAQGS: LPHI), parent company of Life Partners, Inc., a leader in the secondary life insurance market known as "life settlements," supports the proposed legislation announced on Monday by New York insurance regulator Eric Dinallo to create oversight of the life settlements market.

"Life Partners has long supported sound, meaningful regulation and oversight for the life settlement industry that requires brokers and providers to operate in an open and fair marketplace," said Brian Pardo, chief executive officer and chairman of LPHI. "While we generally purchase large face value policies from accredited and financially sophisticated individuals who don't require a high degree of government protection, there are many more non-accredited seniors in New York and throughout the country who could benefit from the secondary life insurance market. These ordinary senior citizens rely on a regulatory framework to offer them the same opportunities as financially sophisticated seniors. In these difficult financial times, we agree that the proposed legislation in New York could have very positive results for ordinary senior citizens by balancing the protection of their interests with the creation of an environment that promotes the secondary market for life insurance."

Life Partners, a recognized industry pioneer in the life settlements industry, helped write the regulations governing the life settlement industry in Texas and other states.

Life Partners is the world's oldest and one of the most active companies in the United States engaged in the secondary market for life insurance, commonly called "life settlements." Since its incorporation in 1991, Life Partners has completed over 84,000 transactions for its worldwide client base of over 22,000 high net worth individuals and institutions in connection with the purchase of over 6,000 policies totaling over $1.8 billion in face value.

March 24, 2009 -- Sinobiopharma, Inc. (OTCBB: SNBP) is pleased to announce that its patented version of Cisatracurium besylate, a pre-surgical skeletal muscle relaxant marketed as Kutai in China, has successfully concluded its Phase IV Clinical Study.

The multi-center Phase IV Clinical Study investigated the safety and effectiveness of Kutai's use at room temperature. The after-market study, supported by the National Multi-center Clinical plan, was concluded successfully on September 2, 2008.

Kutai is a non-depolarizing skeletal muscle relaxant for intravenous administration. Compared to other neuromuscular blocking agents, it is intermediate in its onset and duration of action.

More than 30 clinical experts from seven participating medical centers within China gathered in Nanjing for a conference to review the results of the Phase IV of the Kutai Multi-center clinical study project.

Ms. Xinming Wu, Chief anesthetist of No.1 Hospital of Chinese Peking University Anesthesia Department, presided over the conference and delivered a summary report of the Phase IV project. Xuejun Chen, Sinobiopharma's vice president of sales was also in attendance and expressed Sinobiopharma's thanks to the participating experts for their commitment to research on Kutai.

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Sinobiopharma has established a highly specialized professional team of clinical trial monitors as part of the project to keep close surveillance on the patients. The manager of Sinobiopharma's Clinical Research Department, Mr. Lei Wang, reported on the Phase IV project clinical monitoring outcomes.

The experts' consensus was that the Phase IV study established Kutai as safe and effective for room temperature storage. The year-long clinical research project showed no significant differences between Kutai and imported Cisatracurium besylate, and no significant differences for Kutai safety and effectiveness when stored at either room temperature or a lower temperature.

All the participating parties followed the study design and promote inter-communication to ensure compliance with Good Clinical Practice (GCP).

About Sinobiopharma

Sinobiopharma, Inc. is a fully integrated and highly innovative biotechnology company engaged in the research and development, manufacture and marketing of biopharmaceutical products in China, the world's fastest growing pharmaceutical market. Known as Dong Ying (Jiangsu) Pharmaceutical Co. Ltd. in China, the Company's current therapeutic focus is on anesthesia-assisted agents and cardiovascular drugs.

Mar 24, 2009 -- T-3 Energy Services, Inc. ("T-3 Energy") (NASDAQ: TTES) announced today that it will not be presenting, as previously announced, at the Howard Weil 37th Annual Energy Conference in New Orleans on Thursday, March 26, 2009.

T-3 Energy Services, Inc. provides a broad range of oilfield products and services primarily to customers in the drilling and completion of new oil and gas wells, the workover of existing wells and the production and transportation of oil and gas.

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