Proteonomix Issues Update on Its Joint Venture in United Arab Emirates
PROTEONOMIX, INC. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC ("XGen") towards implementing operations in the United Arab Emirates (U.A.E.).
Proteonomix is the majority shareholder in XGen with the balance held by an anonymous investor group. (See, 17 August 2010 Press Release) Proteonomix personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting Proteonomix personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries.
XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
It was further announced that XGen has expanded its talks within the region beyond a license for manufacture of and treatment with Proteonomix cellular material. Discussions are now further encompassing both the construction of XGen's own manufacturing and treatment facility within the U.A.E. and on funding phased trials for one or more of Proteonomix's proprietary cellular materials for treatment of disease.
Proteonomix CEO, Michael Cohen commented that "The business environment in the U.A.E. is very receptive to Proteonomix and our medical technologies. There is an intense focus on high quality public medical care as well as cutting edge technology. When combined with the rebounding financial condition within the region, we are very pleased to have this opportunity to conduct business in a growing location for medical advancement."
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).
Epiq Systems, Inc. (Nasdaq: EPIQ), a leading global provider of technology solutions for the legal profession, announced recently the opening of its new managed review legal services facility. Located at 90 Park Avenue in mid-town Manhattan, the managed review center accommodates growing demand for Epiq's specialized legal review services.
Epiq's managed review center combines world-leading technology, rigorous process and qualified legal reviewers to offer the most comprehensive managed review service available to the legal profession. The new state-of-the art facility resides on the floor above the company's New York eDiscovery headquarters, encompassing space for 14 teams housed in dedicated review rooms with an advanced security design.
ePlus inc. (Nasdaq:PLUS) recently announced that its wholly owned subsidiary, ePlus Technology inc., has achieved a Customer Satisfaction Excellence Gold Star from Cisco. This designation recognizes ePlus for delivering outstanding customer service to clients in the United States.
"We're pleased to be recognized by Cisco again with their highest customer satisfaction distinction award," said Jerry McIntosh, vice president of advanced technology solutions for ePlus Technology. "Achieving Cisco Channel Customer Satisfaction Excellence is objective proof that ePlus delivers an exceptional customer experience when planning, designing, deploying, and managing Cisco networked solutions."
ePlus is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. Founded in 1990, ePlus has more than 650 associates in 20+ locations serving federal, state, municipal, and commercial customers. The Company is headquartered in Herndon, VA. For more information, visit http://www.eplus.com, call 888-482-1122, or email firstname.lastname@example.org
Epoch Investment Partners, Inc. (Epoch or the Company), a leading investment manager and investment adviser and the sole operating subsidiary of Epoch Holding Corporation (Nasdaq: EPHC), recently announced that its assets under management ("AUM") were approximately $11.3 billion as of June 30, 2010, a decrease of 10% from $12.6 billion as of March 31, 2010. The decrease in AUM was attributable to the decline in equity markets during the quarter, slightly offset by net flows in both U.S. and global investment services.
Despite a quarter of negative equity market returns, we are pleased that there continues to be strong, growing interest in our investment strategies. Our emphasis on investing in high quality companies generating free cash flow and run by managements with successful records of allocating those cash flows, continues to attract new clients, said William W. Priest, Chief Executive Officer of the Company.
Epoch Holding Corporation conducts its operations through Epoch Investment Partners, Inc., a wholly-owned subsidiary and a registered investment adviser under the Investment Advisers Act of 1940, as amended.Investment management and investment advisory services are the Company's sole line of business.Headquartered in New York, the Company's current product offerings include U.S. All Cap Value; U.S. Value; U.S. Small Cap Value; U.S. SMID Cap Value; U.S. Choice; International Small Cap; Global Small Cap; Global Choice; Global Equity Shareholder Yield; and Global Absolute Return.
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