James Bourdage to Retire as BASi VP of Bioanalytical Operations; Michael Baim Named as Successor

Press Release updated: Apr 30, 2018


Bioanalytical Systems Inc. (NASDAQ:BASI) (“BASi” or the “Company”) today announced that James Bourdage, Ph.D., vice president of Bioanalytical Operations, will retire as of May 4, 2018. Michael Baim, Ph.D., will assume the role of vice president of Bioanalytical Operations effective May 7, 2018.

Before joining BASi nearly four years ago, Dr. Bourdage enjoyed a long and esteemed career in the pharmaceutical industry. Having received his Ph.D. in immunochemistry from the University of Illinois, he served in leadership positions at Covance, PharmAthene, Eli Lilly and Pharmacia/Upjohn. In addition to authoring numerous scientific papers, Dr. Bourdage is a member of the American Society of Clinical Pathologists and the American Association of Pharmaceutical Scientists.

“We are grateful for Jim’s leadership, vision and commitment to BASi’s growth and success during his time with us,” said Philip Downing, senior vice president of preclinical services at BASi. “His dedication to the BASi team, and to the clients we serve, is his legacy. We extend our best wishes to Jim and his family as he begins the next chapter in his life.”

We are thrilled to welcome Dr. Baim to the BASi family and we are confident that his vast experience, reputation for being a thoughtful leader and mentor, and career-long focus on delivering performance to reach critical corporate goals will be a tremendous asset to our leadership team and our company.

Jill Blumhoff

BASi Chief Financial Officer

Dr. Michael Baim is an energetic and passionate leader who brings to BASi over 30 years of experience in the pharmaceutical and lab management industries. He is well-versed in analytical methodology and project design and has a proven track record of delivering significant and sustainable profitable growth across many different business segments.

Dr. Baim received his B.A. degree in chemistry from Whitman College in Washington State. He then studied analytical chemistry as an American Chemical Society Analytical Research Fellow at Washington State University, where he earned his Ph.D. degree. He is currently working towards his MBA in marketing management.

Dr. Baim began his career at The Procter & Gamble Company in 1984 and has since held several leadership, management and technical positions at other prominent companies including Novartis and Bristol-Myers Squibb/Mead Johnson. Most recently, he served as an analytical laboratory director, designing a new analytical chemistry lab and revitalizing chemistry operations by adding new technologies and staff to optimize technical guidance and improve customer service. These efforts resulted in a sustained, double-digit growth rate for the company.

Jill Blumhoff, chief financial officer at BASi, commented, “We are thrilled to welcome Dr. Baim to the BASi family and we are confident that his vast experience, reputation for being a thoughtful leader and mentor, and career-long focus on delivering performance to reach critical corporate goals will be a tremendous asset to our leadership team and our company. His expertise and vision align perfectly with our company’s goal to enhance and expand our bioanalytical and in-vitro bioequivalence capabilities and deliver the quality services and solutions our customers need and expect.”

About Bioanalytical Systems Inc.

BASi is a pharmaceutical development company providing contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The Company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more information about BASi.

This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the company’s filings with the Securities and Exchange Commission. 

Company Contact:
Jill Blumhoff
Chief Financial Officer &
Vice President of Finance
Phone: 765.497.8381
jblumhoff@BASinc.com

Source: Bioanalytical Systems Inc.

https://www.newswire.com/news/james-bourdage-to-retire-as-basi-vp-of-bioanalytical-operations-20452561

DynaResource Inc. and DynaResource De México SA De C.V. Announce a Favorable Decision From a US District Court Magistrate Judge Recommending the Vacating of a 2016 Arbitration Award

Press Release updated: Feb 26, 2018


OTCBB: DYNR – DynaResource Inc. (“DynaUSA”) and its affiliate DynaResource de México SA de C.V. (“DynaMéxico”), the 100 percent owner of the San José de Gracia Project in Sinaloa, México (collectively “DynaResource”), announce that a recent attempt by Goldgroup Resources Inc. (“Goldgroup”) to confirm an international arbitration award adverse to DynaResource has been rejected by a United States District Court.

In a carefully crafted, detailed 31-page Recommendation (the “Recommendation”), United States Magistrate Judge Kathleen M. Tafoya of the United States District Court for the District of Colorado determined the arbitration award must be vacated under the Federal Arbitration Act.

According to Magistrate Judge Tafoya, the arbitrator issuing the international arbitration award “was well outside his authority to proceed with the arbitration proceedings” (initiated by Goldgroup), considering an order issued by a Court in México (The “México Court Order”) determined that an arbitration provision in the parties’ agreements was unenforceable and Goldgroup waived its right to initiate the arbitration against DynaResource. Magistrate Judge Tafoya characterized the México Court Order as a “sea change” event in the litigation between the parties.

In response to the Recommendation, Mr. K.D. Diepholz, president of DynaUSA and president of DynaMéxico, stated, “The Recommendation states the conclusions clearly. The 31-page opinion issued by Magistrate Judge Kathleen M. Tafoya shows a thorough and comprehensive review and assessment of the applicable law as applied to the litigations between DynaUSA, DynaMéxico and Goldgroup in México, the U.S. Federal Court in Colorado and the international arbitration. The Recommendation ​determines the same conclusions which DynaResource has determined and argued successfully. DynaResource is satisfied with the conclusions described in the Recommendation and I appreciate the commitment and diligence reflected in the detailed writing of the Recommendation.”

The Recommendation was issued after Goldgroup moved to confirm the arbitration award, and DynaResource filed a petition requesting the arbitration award to not be recognized and vacated. After the parties’ dueling motions were filed, the Recommendation was issued.

The México Court Order referenced in the Recommendation

The México Court Order referred to as a “sea change” event in the Recommendation stems from proceedings in a litigation styled DynaMéxico v. Goldgroup, et al., File No. 1120/2014, 36th Civil Court of the Superior Court of Justice of the Federal District (“México City Case”). The Recommendation acknowledges that on Oct. 5, 2015,the México​ Court Order issued in the México City Case, signed by Judge Julio Gabriel Iglesias Gomez, includes 13 separate and distinct “orders.” Importantly, “orders” six and seven state:

SIX. Based on the provision of Article 1424 of the Commercial Code, it is judicially declared that the arbitration agreement agreed upon in Clause 8.16 of the Earn In Option Agreement dated September one, year two thousand six, is notoriously inefficient and unenforceable.

SEVEN. It is judicially declared that any dispute that might exist arising from the Earn In Option Agreement shall be followed and resolved under Mexican law and before the judges of the Mexican State with jurisdiction to do so, for having tacitly waived both the plaintiff and defendant, to the arbitration clause.

For further information on DynaUSA and DynaMéxico, please visit www.dynaresource.com or contact:

K.D. Diepholz, CEO
972-868-9066  

Brad J. Saulter, V.P. Investor Relations
972-868-9066

Source: DynaResource Inc.

https://www.newswire.com/news/dynaresource-inc-and-dynaresource-de-m-xico-sa-de-c-v-announce-a-20352646

BASi Reports First Quarter Results

Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi”, the “Company”, “We” or “Our”) today announced financial results for the first quarter of fiscal 2018.

First Quarter Results

For the three months ended December 31, 2017, revenue amounted to $5,377,000 a 13% decrease from $6,174,000 in the first quarter of fiscal 2017.

Service revenue for the first quarter of fiscal 2018 decreased 14% to $4,525,000 compared to $5,264,000 for the same period in fiscal 2017. Preclinical services revenue decreased due to an unfavorable mix of studies compared to the prior fiscal year period. Other laboratory services revenues were positively impacted by higher pharmaceutical analysis revenues, which were slightly offset by lower discovery services revenues in the first quarter of fiscal 2018 versus the comparable period in fiscal 2017. In addition, archive revenue increased in the first quarter of fiscal 2018, as compared to the first quarter of fiscal 2017. Bioanalytical analysis revenues declined due to fewer samples received and analyzed in the first quarter of fiscal 2018.

Sales in our Products segment decreased 6% in the first quarter of fiscal 2018 from $910,000 to $852,000 when compared to the same period in the prior fiscal year. The majority of the decrease stems from lower maintenance and services revenues as well as a decline in sales of our Culex automated in vivo sampling systems. These factors were partially offset by an increase in our analytical instruments revenues in the first quarter of fiscal 2018.

Gross profit decreased to $1,581,000, or 29% of revenue, in the first quarter of fiscal 2018, compared to $1,859,000, or 30% of revenue, during the comparable fiscal 2017 period. The principal causes for the decrease were a decline in revenues and a less favorable revenue mix.

Operating expenses for the first quarter of fiscal 2018 decreased 11% to $1,570,000 compared to $1,765,000 during the first quarter of fiscal 2017. The principal reason for the decrease was the absence of an accrual for the severance for our former Chief Executive Officer, amounting to approximately $200,000 that occurred in the first quarter of fiscal 2017.

Operating income for the first quarter of fiscal 2018 amounted to $11,000 compared to operating income of $94,000 for the first quarter of fiscal 2017. The decrease was primarily due to lower revenue, partially offset by decreased operating expenses.

Due to the changes in the United States tax law in December of 2017, we accrued a refundable tax asset and subsequent reduction in tax expense of $68 in the first quarter of fiscal 2018 associated with the AMT credit carryforward.

Net income for the first quarter of fiscal 2018 amounted to $26,000, or $0.00 per diluted share, compared to a net income of $17,000, or $0.00 per diluted share for the first quarter of fiscal 2017.

EBITDA for the first quarter of fiscal 2018, amounted to $446,000, compared to EBITDA for the first quarter of fiscal 2017 of $480,000.

Cash Provided by Operating Activities

Cash provided by operating activities was $760,000 for the first quarter of fiscal 2018 due in large part to the lower working capital levels in the first quarter. Accounts Receivable decreased $419,000 and Accrued Expenses and Customer Advances increased by $178,000 and $283,000, respectively. These items were offset in part by a decrease in Accounts Payable of $327,000 and an increase in Prepaid Expenses of $173,000.

The Company had $933,000 in cash and cash equivalents and $2,000,000 available on its line of credit as of December 31, 2017. During the first quarter of fiscal 2018, cash from operations funded capital expenditures for building improvements as well as laboratory and computer equipment of approximately $175,000.

Remarks

Jill Blumhoff, BASi’s Vice President of Finance and Chief Financial Officer commented, “While our first quarter was challenging from a revenue standpoint, we believe our performance was principally a reflection of the normal variability of our business on a quarterly basis driven by the timing and scope of quote activity. We expect to see the positive side of this variability in the future.”

Ms. Blumhoff continued, “We are very pleased with our progress this quarter on the growth initiatives underway for fiscal 2018 that we discussed at the end of fiscal 2017. We remain focused on new product development opportunities and continue to focus on marketing and expanding our relationships with our distributors, resellers and strategic partners in our products business. We are also taking steps to make the expansion of our preclinical services facilities a reality. I am pleased to report that we have made progress in enhancing the scientific expertise of our staff and in upgrading our laboratory equipment for our other service offerings.

“We are not finished. With our untapped credit facility fully accessible, in addition to our cash on hand, we believe we have the liquidity to fund relevant initiatives in order to deliver consistent profitable growth. With the outstanding work from our dedicated employees and the support from our board members and shareholders, we will continue executing on our initiatives,” Ms. Blumhoff concluded.

Non-GAAP to GAAP Reconciliation

This press release contains financial measures that are not calculated in accordance with generally accepted accounting principles in the United States (GAAP). The non-GAAP financial measures are EBITDA for the first quarters of fiscal 2018 and 2017. EBITDA refers to a financial performance measure that excludes certain income statement line items, such as interest, taxes, depreciation, and amortization. EBITDA may also exclude certain non-cash expenses, such as stock-based compensation.

The non-GAAP financial information should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Management, however, believes that EBITDA, when used in conjunction with the results presented in accordance with GAAP, may provide a more complete understanding of the Company’s results and may facilitate a fuller analysis of the Company’s results, particularly in evaluating performance from one period to another.

Management has chosen to provide this supplemental information to investors, analysts, and other interested parties to enable them to perform additional analyses of results and to illustrate the results giving effect to the non-GAAP adjustments shown in the reconciliation. Management strongly encourages investors to review the Company’s consolidated financial statements and publicly filed reports in their entirety and cautions investors that the non-GAAP measures used by the Company may differ from similar measures used by other companies, even when similar terms are used to identify such measures.

About Bioanalytical Systems, Inc.

BASi is a pharmaceutical development company providing contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The Company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more information about BASi.

This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to our financial condition, changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the Company’s filings with the Securities and Exchange Commission. BASi assumes no obligation to update any forward-looking statement. Actual results may vary, and could differ materially, from those anticipated, estimated, projected or expected in these forward-looking statements for a number of reasons, including, among others, the risk factors disclosed in the Company’s most recent Annual Report, as filed, with the Securities and Exchange Commission.

(SEE BELOW FOR CONDENSED CONSOLIDATED FINANCIAL STATEMENTS)


BIOANALYTICAL SYSTEMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS)
(In thousands, except per share amounts)
(Unaudited)

Three Months Ended
December 31,

2017

2016

Service revenue

$ 4,525

$ 5,264

Product revenue

852

910

Total revenue

5,377

6,174

Cost of service revenue

3,273

3,750

Cost of product revenue

523

565

Total cost of revenue

3,796

4,315

Gross profit

1,581

1,859

Operating expenses:

Selling

294

336

Research and development

139

104

General and administrative

1,137

1,325

Total operating expenses

1,570

1,765

Operating income

11

94

Interest expense

(52)

(76)

Other income

1

Net (loss) income before income taxes

(41)

19

Income taxes (benefit)

(67)

2

Net income

$26

$ 17

Other comprehensive income:

21

Comprehensive income

$ 26

$ 38

Basic net (loss) income per share

$ 0.00

$ 0.00

Diluted net (loss) income per share

$ 0.00

$ 0.00

Weighted common shares outstanding:

Basic

8,244

8,107

Diluted

8,795

8,699



BIOANALYTICAL SYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
AND COMPREHENSIVE INCOME (LOSS)
(In thousands, except share amounts)

December 31,

2017

September 30,

2017

(Unaudited)

Assets

Current assets:

Cash and cash equivalents

$ 933

$ 434

Accounts receivable

Trade, net of allowance of $2,019 at December 31, 2017
and $2,404 at September 30, 2017

2,267

2,530

Unbilled revenues and other

450

615

Inventories, net

931

913

Prepaid expenses

987

814

Total current assets

5,568

5,306

Property and equipment, net

14,740

14,965

Lease rent receivable

96

87

Deferred tax asset

68

Goodwill

38

38

Other assets

20

21

Total assets

$ 20,530

$ 20,417

Liabilities and shareholders’ equity

Current liabilities:

Accounts payable

$ 1,725

$ 2,052

Restructuring liability

1,117

1,117

Accrued expenses

1,380

1,202

Customer advances

3,263

2,980

Income taxes payable

21

20

Revolving line of credit

Current portion of capital lease obligation

130

128

Current portion of long-term debt

226

224

Total current liabilities

7,862

7,723

Capital lease obligation, less current portion

36

69

Long-term debt, less current portion, net of debt issuance costs

4,104

4,158

Total liabilities

12,002

11,950

Shareholders’ equity:

Preferred shares, authorized 1,000,000 shares, no par value:

1,035 Series A shares at $1,000 stated value issued and
outstanding at December 31, 2017 and at
September 30, 2017

1,035

1,035

Common shares, no par value:

Authorized 19,000,000 shares; 8,244,201 issued and
outstanding at December 31, 2017 and 8,243,896 at September 30, 2017

2,023

2,023

Additional paid-in capital

21,481

21,446

Accumulated deficit

(16,011)

(16,037)

Total shareholders’ equity

8,528

8,467

Total liabilities and shareholders’ equity

$ 20,530

$ 20,417


BIOANALYTICAL SYSTEMS, INC.
RECONCILIATION OF GAAP TO NON-GAAP EARNINGS
(In thousands)
(Unaudited)

Three Months Ended
December 31,

2017

2016

GAAP Net income

$ 26

$ 17

Add back: Interest expense

52

76

Income taxes

(67)

2

Depreciation and amortization

401

375

Stock option expense

34

10

EBITDA

$ 446

$ 480

EBITDA – Earnings before interest, taxes, depreciation, amortization, and stock option expenses.


Company Contact:

Jill Blumhoff
Chief Financial Officer &
Vice President of Finance
Phone: 765.497.8381
jblumhoff@BASinc.com

https://www.newswire.com/news/basi-reports-first-quarter-3961158-20231345

Bioanalytical Systems to Release First Quarter Fiscal 2018 Results on Tuesday, February 13, 2018

Press Release updated: Feb 8, 2018


Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”) today announced today that it will report financial results for the first quarter of fiscal 2018 ended December 31, 2017, prior to the market opening on Tuesday, February 13, 2018.

If there are any questions after the press release is issued, please direct your comments to the investor relations contact noted in this release.

About Bioanalytical Systems, Inc. 

BASi is a pharmaceutical development company providing contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more about BASi.

This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the company’s filings with the Securities and Exchange Commission.

Company Contact:
Jill Blumhoff
Chief Financial Officer &
Vice President of Finance
Phone: 765.497.8381
jblumhoff@BASinc.com

Source: Bioanalytical Systems, Inc.

https://www.newswire.com/news/bioanalytical-systems-to-release-first-quarter-fiscal-2018-results-on-20187290

Solbright Group Inc. Reports Second Quarter Fiscal 2018 Financial Results

Quarterly Revenue Increases 7X Year Over Year to $3.2 Million & Operating Cash Flow Remains Positive Through First Six Months of Combined Operations Following SolBright Acquisition

Press Release updated: Jan 17, 2018


Solbright Group, Inc. (OTC: SBRT), an industrial automation and energy management company providing Industrial Internet of Things (IoT) solutions that help commercial and industrial facilities increase efficiency and reduce costs, today announced financial results for the second quarter of fiscal 2018 ended Nov. 30, 2017.

Revenue for the second quarter of fiscal year 2018 was $3,291,100, an increase of over 700 percent compared to revenue of $389,676 in the second quarter of fiscal year 2017. The increase in top-line revenue is primarily due to the growth in the Company’s customer base and revenue recognized from the SolBright acquisition completed in May 2017. The Company posted a loss from operations of $1,948,205 in the period, which includes $820,143 of stock-based compensation relating to the settlement of debt and services.

“As we have completed internalizing the SolBright acquisition, we are very pleased with the growth in revenues that we continue to experience in our Services business year over year, and we expect to maintain this upward trajectory through the remainder of this fiscal year and beyond,” said CEO Terrence DeFranco. “Commercial and industrial facilities owners — particularly in retail, health care, education, specialty agriculture and data centers — can benefit from the bundling of our robust Industrial Internet of Things (IIoT) platform for energy management and predictive maintenance with our solar and LED lighting installations by lowering energy consumption and maintenance costs, extending asset life, increasing efficiency and productivity and realizing their sustainability goals. As we continue to execute on the expansion of our Services business and begin to introduce our IoT solutions to our growing customer base, we believe that we will successfully transform our Company and establish Solbright as a leader in the IIoT and energy services markets.”

Total operating expenses were $1,550,217 compared to $634,856 in the second quarter of fiscal 2017. The increase was primarily due to the increase in personnel related to the SolBright acquisition. The operating loss for the second quarter of fiscal 2018 was $1,948,205 compared to an operating loss of $503,936 for the second quarter of fiscal 2017. Other income/expenses included interest expense of $537,075 and non-cash charges for amortization of debt discount and deferred finance costs and loss on the settlement of a liability, totaled $310,148 and $101,223, respectively.

The net loss was $2,896,651 or ($0.12) per basic and diluted share, for the second quarter of fiscal 2018 compared to a net loss of $509,151, or ($0.04) per basic and diluted share, for the second quarter of fiscal 2017. Basic and diluted per share results are based on weighted average shares outstanding of 23,663,668 and 13,728,834 for the second quarters of fiscal 2018 and fiscal 2017, respectively. Please visit www.sec.gov to view our second quarter results on Form 10Q or visit the Company’s Investor Relations page at www.solbrightgroup.com.

About Solbright Group, Inc.:

Solbright Group, Inc. is an industrial automation and energy management company providing Industrial Internet of Things (IoT) solutions that help commercial and industrial facilities increase efficiency and reduce cost. We deliver technology solutions for building and machine automation and energy conservation that complement our energy conservation services such as LED lighting retrofits, HVAC system retrofits and solar engineering, procurement and construction services. Our focus is towards the development and commercialization of an Internet of Things software platform that supports Big Data applications that complement our energy management services. More information is available at www.solbrightgroup.com.

Forward-Looking Statements:

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to the acquisition and integration of the Solbright assets, risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to pre-clinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

Investor contact:

Solbright Investor Relations
973-339-3855
​investors@solbrightgroup.com

Source: Solbright Group, Inc.

https://www.newswire.com/news/solbright-group-inc-reports-second-quarter-fiscal-2018-financial-20153166

Advanced BioMedical Technologies Inc. Commences Facility Upgrade

Press Release updated: Jan 3, 2018


​​Advanced Biomedical Technologies Inc. (OTCQB:ABMT), a developer and manufacturer of orthopaedic internal fixation devices, has announced the commencement of upgrading its facility in Shenzhen, China.

The Company is renovating its Shenzhen GMP facility to meet new China Food and Drug Administration (“CFDA”) regulations and in preparation for CFDA’s approval of the Company’s PA Screws product which has been under CFDA review. The facility upgrade is expected to be completed in three months with the total cost at approximately $150,000.

“Not only will we meet the new requirements set by CFDA regulation, the enhancement of this facility will also improve our productivity and increase efficiency,” expressed Wang Hui, CEO of the Company. “We must be well-prepared in every situation prior to CFDA’s approval of our product, and to maintain this facility at its pristine condition is of our utmost priority and responsibility.”

About Advanced Biomedical Technologies Inc. (OTCQB: ABMT)

Advanced Biomedical Technologies, Inc.’s primary product line includes internal fixation devices consisting of proprietary high-grade polymers (polyamide – “PA”). Our products are used in a variety of applications including orthopaedic trauma, sports-related medical treatment, or cartilage injuries, and reconstructive dental procedures. During the healing process, the products stimulate new bone growth which replaces the degrading device, leaving newer, stronger bone in the exact location of the injury; thus making the site of the injury stronger and more resistant to recurring damage. These products provide an alternative to metal implants and overcome the limitations of other re-absorbable fixation devices.

The products and materials that the Company has created differ from competing bio-degradable and metal based products being marketed today by:

  • The ability to control the speed that the device degrades; therefore improving upon the healing time.
  • Eliminating the need for a second surgery to replace device due to infection or other post-operative complications.
  • The capability of being evenly absorbed from outer layer inwards, so that it gives enough restoration time for bone healing and re-growth.

Forward-Looking Statements

This release contains forward-looking statements which are made pursuant to provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that such statements in this release, including statements relating to regulatory and business strategies, plans and objectives of management and growth opportunities for existing or proposed products, constitute forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. The risks and uncertainties include, without limitation, risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured, we may lack financial resources to complete development or marketing of our products, government regulatory agencies may interpret the results of studies differently than us, competing products may be more successful, demand for new pharmaceutical products may decrease, the biopharmaceutical industry may experience negative market trends, our continuing efforts to develop bone fixation devices may be unsuccessful, our common stock could be delisted from the over-the-counter market, and other risks and challenges detailed in our filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this release. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.

Contact:

Kai Gui
Advanced Biomedical Technologies Inc.
TEL: 1-718-766-7898
EMAIL: info@abtbiomedical.com

Source: Advanced Biomedical Technologies Inc.

https://www.newswire.com/news/advanced-biomedical-technologies-inc-commences-facility-upgrade-20130599

Update: AIM Exploration Discuss Discovery of Rare Earth Elements (REE) in Anthracite, Trump Boon to Anthracite Mining in US and Increase Demand for Anthracite Coal

Press Release updated: Dec 27, 2017


 AIM Exploration (“The Company”), a SEC reporting public company listed as OTC:AEXE announces the global need for Anthracite in the world for its Rare Earth Elements (REE).

A third-party news report on Nov. 17, 2017, has announced the discovery of precious rare earth elements found and creatable in Anthracite that is used in computer and cell phone and wireless products. The discovery about Rare Earth Elements found in Anthracite has been reported from a number of sources including the Department of Energy (US), U.S. Secretary of Energy Rick Perry, and the National Energy Technology Laboratory (NETL).

US Energy Secretary Rick Perry said: “Rare Earth Elements are vital to the development and manufacturing of high-tech devices such as computers, cell phones, and our national defense systems. The current difficulties and high expenses associated with REE extraction have left the U.S. dependent on foreign REE imports.”

https://energy.gov/articles/high-concentrations-rare-earth-elements-found-american-coal-basins

and

http://www.pahomepage.com/news/rare-earth-elements-could-mean-a-bright-future-for-coal/871780887

The rare earth elements are a group of 17 little-known elements, most of them with unpronounceable names like neodymium or ytterbium. However, these elements are very vital to the manufacture of electronic components like smartphone displays, sensors, and electric motors. They are also vital for defense applications.

Read more: http://www.digitaljournal.com/tech-and-science/technology/high-levels-of-rare-earth-minerals-found-in-usa-coal-basins/article/509021#ixzz52PgnrqSG

Anthracite has been in demand due to the water filtration properties. We have had record high drinking water demands due to the hurricanes on the east coast. High-quality Anthracite is needed for filtration and removal of harmful particulates and disease substances.

Anthracite is used for high heat to forge end quality metals and alloys for minimal impurities. In addition, Anthracite has a low ash and low pollution rate compared to regular coal.

As reported in Standard-Speaker, U.S. Rep. Lou Barletta believes President Donald Trump’s recent executive order to increase production of domestically sourced critical minerals will be a boon to the area. “My hope is that the Department of Interior will include REEs as critical minerals so we can stop relying on the Chinese for these vital elements that are in everything from cell phones to the weapons used by our troops,” Barletta said. “Domestic production of REEs will strengthen national security and bring good paying jobs and economic growth to Pennsylvania, and I hope the administration will take a serious look at including them in the scope of this executive order,” said Barletta from www.standardspeaker.com report.

http://standardspeaker.com/news/barletta-views-trump-order-a-boon-to-area-1.2283157

While no firm pricing has been established for our coal, the Alibaba prices for clean Anthracite has a new price range of $400 to $1000 per metric ton. Calcined Anthracite on Alibaba now ranges from $1000 to $3500 per ton.

Our press release issued Dec. 26, 2017 stated that The Company has received multiple requests from buyers for a sampling of the purity of our Anthracite for the purpose of pricing and possible purchase orders to sell and ship coal. The Company has been receiving more requests for samples than the last year and years before. The Company has had a lab analysis done last year by SGS labs.  The Company had been requested again this year for new lab analysis by multiple potential buyers.

The Company continues to have more trips slated in 2018 for meetings with coal experts.

About AIM Exploration

The Company is an Anthracite coal mining and exploration company and plans to mine 1,000 hectares of land. Putting this into perspective 1,000 hectares is 3 times the size of Central Park. We have expertise in business, mining, and legal with our distinguished board of directors. We have amicable relationships with all parties involved in mining in Peru. We are a SEC reporting publicly traded company with the symbol (OTC PINK: AEXE).

Forward-Looking Statements

Certain information set forth in this press release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. the Company is not basing its production on a feasibility study of mineral reserves that has demonstrated economic and technical viability. Also, please provide additional disclosure of the increased uncertainty and the specific economic and Some of the forward-looking statements may be identified by words such as “estimates,” “expects,” “anticipates,” “believes,” “projects,” “plans,” “targets,” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause AIM’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements.

Contact: info@aimexploration.com
Twitter: www.twitter.com/aexeqb or @aexedb
Website: www.aimexploration.com
AIM Exploration Inc.
J.R. (Bob) Todhunter

Source: AIM Exploration Inc.

https://www.newswire.com/news/update-aim-exploration-discuss-discovery-of-rare-earth-elements-ree-in-20122993

AIM Exploration Inc. Update of India Steel Policy

Press Release updated: Dec 26, 2017


AIM Exploration (“The Company”), an SEC reporting public company listed as OTC: AEXE announces its significant activities to its investors today.

As the year comes to an end we are updating our shareholders, during the year we elected to cancel the agreement we set up in Dubai as the sales were just not coming in the timeframe we had expected. Subsequently, the Company has received multiple requests from buyers for a sampling of the purity of our anthracite for the purpose of pricing and possible purchase orders to sell and ship coal.

The Company did another lab analysis done last year by SGS labs which included SGS actually visiting the mine site and sapling 900 KG of coal. This has led the company to now perform additional testing with SGS and potential buyers who also would like to visit the mine site and view our entire logistics. 

In addition, the Company has been receiving more requests for samples than last year and previous years before.

The Company has issued a material event to request a name change from AIM Exploration Inc. to AIM Energy Inc. The name change hopes to reflect the broader scope of the business plan of the Company in the years to come.

While the name change is completed in the State of Nevada, it cannot be reflected until FINRA approval is received.

The Company board members have met worldwide coal buyers recently and there is a great deal of interest.

While no firm pricing has been established for our coal, the Alibaba prices for clean anthracite has a new price range of $400 to $1000 per metric ton. Calcined Anthracite on Alibaba now ranges from $1000 to $3500 per ton.

The anthracite coal that the Company has on the property is high quality with and is suitable for water filtration, high heat for forging steels and for high-grade aluminum blends.

The Company has issued a share structure change to be aligned with the market capitalization and the share structure that potential suitors desire for a working relationship in the capacity of being subsidiarized, ease of accounting if a partnership is to occur, or a synergistic partial or wholly owned subsidiarization or amalgamation of private and/or public companies in the energy sector. This is not a forward-looking statement of any merger or acquisition.

The Company continues to have more trips slated in 2018 for meetings with coal experts and we are very hopeful the ensuing year will prove to be a great year for AIM.

We welcome our audience to view our website: http://aimexploration.com

And we also welcome people to follow our twitter feed at www.twitter.com/aexeqb which has 5000 followers and growing. “This gives us an indication that clean energy is a global concern and enforces our belief that is why we need to carry out our objective of mining clean high BTU anthracite coal,” said J.R. (Bob) Todhunter.

About AIM Exploration: The Company is an Anthracite coal mining and exploration company and plans to mine 1,000 hectares of land. Putting this into perspective 1,000 hectares is 3 times the size of Central Park. We have expertise in business, mining, and legal with our distinguished board of directors. We have amicable relationships with all parties involved in mining in Peru. We are a SEC reporting publicly traded company with the symbol (OTC: AEXE).

Forward-Looking Statements 
Certain information set forth in this press release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. the Company is not basing its production on a feasibility study of mineral reserves that has demonstrated economic and technical viability. Also, please provide additional disclosure of the increased uncertainty and the specific economic and  Some of the forward-looking statements may be identified by words such as “estimates,” “expects,” “anticipates,” “believes,” “projects,” “plans,” “targets,” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause AIM’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements.

Contact: info@aimexploration.com
Twitter: www.twitter.com/aexeqb or @aexedb
Website: www.aimexploration.com
AIM Exploration Inc.
J.R. (Bob) Todhunter

Source: AIM Exploration Inc.

https://www.newswire.com/news/aim-exploration-inc-otc-aexe-update-20122039

BASi Continues Profitability Improvement to Close Out Fiscal 2017

Bioanalytical Systems, Inc. (NASDAQ:BASI) (” BASi” or the “Company”) today announced financial results for the three and twelve months ended September 30, 2017.

Fourth Quarter Results

For the three months ended September 30, 2017, revenue amounted to $5,873,000, a 14% increase from $5,154,000 in the fourth quarter of fiscal 2016.

I am very excited to present continued operating improvements for the balance of fiscal 2017. We have had a remarkable year in which we have overcome many challenges.

Jill Blumhoff

Vice President of Finance and Chief Financial Officer at BASi

Service revenue for the fourth quarter of fiscal 2017 increased 24% to $5,002,000, compared to $4,043,000 for the corresponding period in fiscal 2016. Revenues improved due to an overall increase in the number of preclinical services studies, increased pharmaceutical analysis revenues and an increase in the number of bioanalytical analysis samples received and analyzed. In addition, the Company began to charge for archive services in fiscal 2017, resulting in the addition of $120,000 in archive service revenues in the fourth quarter of fiscal 2017.

Sales in our Products segment decreased 22% in the fourth quarter of fiscal 2017 from $1,111,000 to $871,000 when compared to the same period in the prior fiscal year. The majority of the decrease stems from lower sales of our Culex automated in vivo sampling systems and our analytical instruments over the same period in the prior fiscal year.

Gross profit increased to $1,864,000, or 32% of revenue, in the fourth quarter of fiscal 2017, compared to $952,000, or 18% of revenue, during the comparable fiscal 2016 period. The principal reason for the improvement was the increase in Service revenue, which led to a higher absorption of fixed costs.

Operating expenses for the fourth quarter of fiscal 2017 amounted to $1,572,000, a 44% decrease when compared to $2,836,000 incurred during the fourth quarter of fiscal 2016. Lower salary and employee benefit expenses due to a reduced number of business development and other management personnel in fiscal 2017 and the absence of a non-recurring goodwill impairment charge occurring in fiscal 2016 were partially offset by higher consulting services costs in the fourth quarter of fiscal 2017.

Operating income for the fourth quarter of fiscal 2017 amounted to $292,000 compared to an operating loss of $1,884,000 for the fourth quarter of fiscal 2016. The improvement was primarily due to higher revenue, improved operating margins and the absence of the non-recurring goodwill impairment charge incurred in fiscal 2016.

Net income for the fourth quarter of fiscal 2017 amounted to $229,000, or $0.03 per diluted share, compared to a net loss of $2,037,000, or $0.25 per diluted share for the fourth quarter of fiscal 2016.

EBITDA for the fourth quarter of fiscal 2017, amounted to $672,000, compared to a negative EBITDA of $526,000 for the fourth quarter of fiscal 2016.

Full Year Results

Revenue for fiscal 2017 amounted to $24,242,000 a 19% increase from $20,441,000 in fiscal 2016.

Service revenue increased 27% in fiscal 2017 to $20,182,000 from $15,924,000 in fiscal 2016. Preclinical services revenues improved due to an overall increase in the number of studies and other laboratory services revenues were positively impacted by higher discovery and pharmaceutical analysis revenues. Archive services revenue added $572,000 to other laboratory services revenue in fiscal 2017.

Sales in our Products segment decreased 10%, from $4,517,000 in fiscal 2016 to $4,060,000 in fiscal 2017. The majority of the decrease stems from lower sales of our analytical instruments.

Gross profit in fiscal 2017 increased to $7,697,000, or 32% of revenue, compared to $4,425,000, or 22% of revenue, in fiscal 2016. The improvement was driven by an increase in revenues which led to a higher absorption of fixed costs and a favorable change in sales mix.

Operating expenses for fiscal 2017 decreased 14% to $6,419,000 from $7,465,000 for fiscal 2016. The principal reasons for the decrease were the non-recurring goodwill impairment charge in fiscal 2016 of $971,000 plus lower salary and employee benefit expenses in fiscal 2017 due to the reduced number of business development and management personnel. These decreases were partially offset by higher costs for consulting services in fiscal 2017.

Operating income for fiscal 2017 amounted to $1,278,000 compared to an operating loss of $3,040,000 for fiscal 2016. The improvement was primarily due to higher revenue and the improved operating margins and slightly lower operating expenses in addition to the absence of the non-recurring goodwill impairment charge in fiscal 2016.

Net income amounted to $884,000, or $0.11 per diluted share, for fiscal 2017. Net loss amounted to $3,230,000, or $0.40 per diluted share, for fiscal 2016.

EBITDA was $2,822,000 for fiscal 2017, compared to a negative EBITDA of $615,000 for fiscal 2016.

Cash Provided by Operating Activities

Cash provided by operating activities was $1,236,000 for fiscal 2017 due in part to the improved operating income performance and lower working capital levels. Inventory and accounts payable decreased by $540,000 and $913,000, respectively, while accounts receivable increased $941,000.

The Company had $434,000 in cash and cash equivalents and $2,000,000 available on the line of credit at September 30, 2017. During fiscal 2017, cash from operations funded capital expenditures for computing infrastructure, building improvements and laboratory equipment of approximately $347,000.

Remarks

Jill Blumhoff, BASi’s Vice President of Finance and Chief Financial Officer commented, “Our fourth-quarter results provided a strong finish to an exceptional year during which we overcame many challenges. Our profitability improvements stem from the continued strong demand for preclinical and pharmaceutical analysis services. Our archive revenue initiative was also a significant contributor to the revenue and profitability improvement year-over-year.

“We are optimistic about the opportunities for growth in fiscal 2018 and beyond. We plan to continue investing in new product development opportunities and further develop and expand our relationships with our distributors, resellers and strategic partners in our products business. We are investigating a possible expansion for our preclinical services facilities and we intend, among other initiatives, to enhance the scientific expertise of our staff and upgrade the laboratory equipment for our other service offerings. With the new credit facility finalized in June, we believe we have the liquidity to drive relevant initiatives.

“In combination with the operational improvements in fiscal 2017 and initiatives underway for fiscal 2018, we have significantly lowered our employee turnover and revitalized our organization comprised of humble and dedicated employees who promote our values of quality and customer service. I sincerely thank each and every one of our employees, along with our board members and shareholders, for their steadfast support as we work to reshape the future of BASi,” Ms. Blumhoff concluded.

Non-GAAP to GAAP Reconciliation

This press release contains financial measures that are not calculated in accordance with generally accepted accounting principles in the United States (GAAP). The non-GAAP financial measures are EBITDA for the fourth quarter and twelve months of fiscal 2017 and 2016, respectively. EBITDA refers to a financial performance measure that excludes certain income statement line items, such as interest, taxes, depreciation, and amortization. EBITDA may also exclude certain non-cash expenses, such as stock-based compensation and the income or expense from the change in the warrant liability.

The non-GAAP financial information should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Management, however, believes that EBITDA, when used in conjunction with the results presented in accordance with GAAP, may provide a more complete understanding of the Company’s results and may facilitate a fuller analysis of the Company’s results, particularly in evaluating performance from one period to another.

Management has chosen to provide this supplemental information to investors, analysts, and other interested parties to enable them to perform additional analyses of results and to illustrate the results giving effect to the non-GAAP adjustments shown in the reconciliation. Management strongly encourages investors to review the Company’s consolidated financial statements and publicly filed reports in their entirety and cautions investors that the non-GAAP measures used by the Company may differ from similar measures used by other companies, even when similar terms are used to identify such measures.

About Bioanalytical Systems, Inc

BASi is a pharmaceutical development company providing contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The Company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more information about BASi.

This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to our financial condition, changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the Company’s filings with the Securities and Exchange Commission. BASi assumes no obligation to update any forward-looking statement. Actual results may vary, and could differ materially, from those anticipated, estimated, projected or expected in these forward-looking statements for a number of reasons, including, among others, the risk factors disclosed in the Company’s most recent Annual Report, as filed, with the Securities and Exchange Commission.

(SEE BELOW FOR CONDENSED CONSOLIDATED FINANCIAL STATEMENTS)


BIOANALYTICAL SYSTEMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS)

(In thousands, except per share amounts)
Three Months Ended
September 30,
(Unaudited)
Fiscal Year Ended
September 30,
2017
2016
2017
2016
Service revenue $ 5,002 $ 4,043 $ 20,182 $ 15,924
Product revenue 871 1,111 4,060 4,517
Total revenue 5,873 5,154 24,242 20,441
Cost of service revenue 3,386 3,517 13,990 13,355
Cost of product revenue 623 685 2,555 2,661
Total cost of revenue 4,009 4,202 16,545 16,016
Gross profit 1,864 952 7,697 4,425
Operating expenses:
Selling 245 345 1,053 1,417
Research and development 125 104 465 496
General and administrative 1,202 1,416 4,901 4,581
Impairment of goodwill 971 971
Total operating expenses 1,572 2,836 6,419 7,465
Operating income (loss) 292 (1,884) 1,278 (3,040)
Interest expense (53) (156) (375) (399)
Decrease in fair value of warrant liability 189
Other income 1 4 5 6
Net income (loss) before income taxes 240 (2,036) 908 (3,244)
Income tax expense (benefit) 11 1 24 (14)
Net income (loss) 229 (2,037) 884 (3,230)
Other comprehensive income (loss): 13 35 (88)
Comprehensive income (loss) $ 229 $ (2,024) $ 919 $ (3,318)
Basic net income (loss) per share $ 0.03 $ (0.25) $ 0.11 $ (0.40)
Diluted net income (loss) per share $ 0.03 $ (0.25) $ 0.10 $ (0.40)
Weighted common shares outstanding:
Basic 8,241 8,108 8,178 8,107
Diluted 8,780 8,108 8,733 8,107

BIOANALYTICAL SYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts)
September 30,
2017
September 30,
2016
Assets
(Unaudited)
Current assets:
Cash and cash equivalents $ 434 $ 386
Accounts receivable
Trade, net of allowance of $2,404 at September 30, 2017 and $565 at September 30, 2016 2,530 1,649
Unbilled revenues and other 615 591
Inventories, net 913 1,453
Prepaid expenses 814 798
Total current assets 5,306 4,877
Property and equipment, net 14,965 16,136
Lease rent receivable 87 51
Goodwill 38 38
Other assets 21 27
Total assets $ 20,417 $ 21,129
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable $ 2,052 $ 2,965
Restructuring liability 1,117 1,117
Accrued expenses 1,202 1,089
Customer advances 2,980 3,114
Income taxes payable 20 13
Revolving line of credit 1,358
Fair value of interest rate swap 35
Current portion of capital lease obligation 128 126
Current portion of long term debt 224 3,656
Total current liabilities 7,723 13,473
Capital lease obligation, less current portion 69 198
Long‑term debt, less current portion, net of debt issuance costs 4,158
Total liabilities 11,950 13,671
Shareholders’ equity:
Preferred shares, authorized 1,000,000 shares, no par value:
1,035 Series A shares at $1,000 stated value issued and 1,035 1,185
outstanding atSeptember 30, 2017 and 1,185 at September30, 2016
Common shares, no par value:
Authorized 19,000,000 shares; 8,243,896 issued and outstanding at September 30, 2017 and 8,107,558 at September 30, 2016 2,023 1,989
Additional paid‑in capital 21,446 21,240
Accumulated deficit (16,037) (16,921)
Accumulated other comprehensive income (loss) (35)
Total shareholders’ equity 8,467 7,458
Total liabilities and shareholders’ equity $ 20,417 $ 21,129

BIOANALYTICAL SYSTEMS, INC.
RECONCILIATION OF GAAP TO NON-GAAP EARNINGS

(In thousands)
(Unaudited)
Three Months Ended
September 30,
Fiscal Year Ended
September 30,
2017
2016
2017
2016
GAAP Net income (loss) $ 229 $ (2,037) $ 884 $ (3,230)
Add back: Interest expense 53 156 375 399
Income taxes 11 1 24 (14)
Depreciation and amortization 373 372 1,520 1,403
Goodwill impairment charge 971 971
Decrease in fair value of warrant liability (189)
Stock option expense 6 11 19 45
Adjusted EBITDA $ 672 $ (526) $ 2,822 $ (615)
Adjusted EBITDA – Earnings before interest, taxes, depreciation, amortization, stock option expenses, impairment charges and the change in the fair value of warrant liability.

Source: Bioanalytical Systems, Inc.

https://www.newswire.com/news/basi-continues-profitability-improvement-to-close-out-fiscal-2017-20105953

Bioanalytical Systems to Release Fourth Quarter and Full Year Fiscal 2017 Results on Tuesday, December 19, 2017

Press Release updated: Dec 15, 2017


Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”) today announced that it will report financial results for the fourth quarter and twelve months ended September 30, 2017, prior to the market opening on Tuesday, December 19, 2017.

If there are any questions after the press release is issued, please direct your comments to the investor relations contact noted in this release.

About Bioanalytical Systems, Inc.

BASi is a pharmaceutical development company providing contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more about BASi.

This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the company’s filings with the Securities and Exchange Commission.

Company Contact:
Jill Blumhoff
Chief Financial Officer &
Vice President of Finance
Phone: 765.497.8381
jblumhoff@BASinc.com

Source: Bioanalytical Systems, Inc.

https://www.newswire.com/news/bioanalytical-systems-to-release-fourth-quarter-and-full-year-fiscal-20106093

BASi Announces Enhanced Bioequivalence Capabilities

Press Release updated: Dec 12, 2017


Bioanalytical Systems Inc. (NASDAQ:BASI) (“BASi” or the “Company”) today announced a multi-tiered strategy aimed at enhancing the company’s in vitro and in vivo bioequivalence capabilities.

Over the next several months, BASi will hire additional Principal Investigators and Research Analysts to support the company’s Bioanalytical and Pharm Analysis labs, and provide expanded cross training for current staff. Additionally, capital investments are being made for new and upgraded automated dissolution apparatus equipment for the company’s Pharm Analysis labs. These upgrades will not only provide improved data, a commitment at the heart of BASi’s pledge to its clients, but will increase capacity as well. The company will also increase its already extensive library of validated analytical methods applicable to in vivo bioequivalence studies.

BASi has extensive experience in performing in vitro bioequivalence studies as described in regulatory guidances and demonstrated by successful regulatory audits of the company’s work. BASi is actively engaged in developing new methods to be utilized for recent, new guidances. Some of the products requiring in vitro bioequivalence testing include sevelamer carbonate and hydrochloride, lanthanum carbonate, cholestyramine powder, colesevelam hydrochloride, calcium carbonate and colestipol.

This activity has provided good momentum for BASi in supporting more generic drug applications (ANDAs). Both in animal models and the clinic, our expanded library of assays also facilitates drug-drug interaction (DDI) studies with yet-to-be-approved novel therapeutics.

Peter T. Kissinger

BASi Founder and Scientific Adviser

“BASi’s goal is to be the go-to research organization for bioequivalence studies that provide timely, accurate and precise data for our clients’ regulatory filings,” said James Bourdage, Ph.D., vice president of Bioanalytical Operations at BASi. “Exceptional leadership, a dedicated and focused scientific team, state-of-the-art equipment in our labs and expanding our validated methods library will give us the competitive edge we need to reach that goal.”

Peter T. Kissinger, BASi founder and scientific adviser, added, “This activity has provided good momentum for BASi in supporting more generic drug applications (ANDAs). Both in animal models and the clinic, our expanded library of assays also facilitates drug-drug interaction (DDI) studies with yet-to-be-approved novel therapeutics.”

About Bioanalytical Systems Inc.

BASi is a pharmaceutical development company providing contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The Company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more information about BASi. 

This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards and various market and operating risks detailed in the company’s filings with the Securities and Exchange Commission. 

Company Contact:
Jill Blumhoff
Chief Financial Officer &
Vice President of Finance
Phone: 765.497.8381
jblumhoff@BASinc.com

Source: Bioanalytical Systems Inc.

https://www.newswire.com/news/basi-announces-enhanced-bioequivalence-capabilities-20098770

FinLab Expands Its Cryptocurrency Exposure With an Investment in the ICO- and Token-Sale Accelerator ICONIQ LAB

Press Release updated: Nov 24, 2017


Frankfurt-based Iconiq Lab Holding GmbH, the world’s first batch-driven Initial Coin Offering (ICO) and Token Sale accelerator program, has announced that FinLab AG is set to make an investment in the company. Iconiq Lab will invest these new financial resources in the development of its accelerator program and further expanding its global deal-sourcing presence. Iconiq Lab will invest in additional personnel and increase its marketing budget to drive global awareness of the sale of its own token, ICNQ, which goes on sale in January 2018.

Iconiq Lab is a full-service platform for crypto-, blockchain- or tokenizable startups and provides seed funding and ICO-related expense coverage to selected startups. Iconiq Lab and its partners provide expert services and digital learning modules on topics such as “how to tokenize”, ICO legal and jurisdictional issues, best-practices in marketing in the crypto economy, and connections to top crypto investors. This provides startups accepted to the program the best opportunity to secure funding through their own token sale, and token market participants a dealflow of expertly-screened and developed startups they can participate in the token sale of. The goal is to provide the crypto economy investable real-world business solutions supported by token instruments to promote the long-term sustainability of the crypto markets.

The innovative accelerator program drives adoption and growth of new tokenized business models, enabling founders to secure funding to scale their ventures, and global investors to participate in the financing of the most promising crypto, blockchain or tokenizable startups.

Iconiq Lab has always envisioned itself as the bridge between the traditional venture investment space and the new crypto economy. The resources, network and expertise of FinLab will help to strengthen Iconiq Lab’s presence in the European and global venture ecosystem. FinLab is a world-class, hands-on partner, both for us as well as for our accelerator participants.

Patrick Lowry

CEO, Iconiq Lab

Launched in the spring of 2017, Iconiq Lab has already built a team of experienced VCs, investment managers, blockchain, crypto and venture marketing experts. The team has arranged strategic partnerships with key players in both the traditional venturing ecosystem and the crypto economy. Iconiq Lab has sourced and performed due diligence on nearly 100 startup applicants to date, and will formally launch the first batch of the accelerator program in February 2018 with a targeted 5 startup participants. Iconiq Lab’s own token, ICNQ, is planned to go on sale in January 2018 with full regulatory approval.

Liquet Associates, a Frankfurt-based legal firm, helped finalize the deal with Iconiq Lab. 

“Iconiq Lab has always envisioned itself as the bridge between the traditional venture investment space and the new crypto economy,” says Iconiq Lab CEO, Patrick Lowry. “The resources, network and expertise of FinLab will help to strengthen Iconiq Lab’s presence in the European and global venture ecosystem. FinLab is a world-class, hands-on partner, both for us as well as for our accelerator participants.”

“With Iconiq Lab, we have found the perfect partner to connect the traditional world of venture capital with the new crypto economy. FinLab and Iconiq benefit mutually from the excellent skills of the other. With this symbiosis, we are confident that Iconiq will become the market leader as ICO- and Token-Sale Accelerator,” says Stefan Schütze, member of the management board of FinLab. 
 
About FinLab AG: 
Stock market listed company FinLab AG is one of the first and largest company builders and investors focused on the Financial Services Technologies (“FinTech”) sector in Europe. FinLab focuses on developing German FinTech startups and providing venture capital for their financial needs, whereby in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.

Press contact: FinLab AG
Web: investor-relations@finlab.de 
Email: http://www.finlab.de
Phone: +49 69 719 12 80 0 
 
About Iconiq Lab Holding GmbH:
Iconiq Lab is an Initial Coin Offer and Token Launch accelerator program. Iconiq Lab source, funds, develops and accelerates the best crypto, blockchain and tokenizable startups to their own ICO or Token Sale. Iconiq Lab helps launch tokens supported by real-world, sustainable business solutions.

Press contact: Patrick Lowry
Web: https://iconiqlab.com
Email: contact@iconiqlab.com
Phone: +49 157 809 42107

Source: Iconiq Lab, Finlab

https://www.newswire.com/news/finlab-expands-its-cryptocurrency-exposure-with-an-investment-in-the-20074117

Steady Growth Spurs Plans for BASi Expansion of GLP Toxicology Facility in Indiana

Investment Adds New Capabilities and State-of-the-Art Responsible Care Environment

Press Release updated: Nov 13, 2017


Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”) today announced the company has retained architects and consultants to design and complete a multi-phased plan for the expansion of its GLP toxicology facility in Mt. Vernon, Indiana, near Evansville. Steady growth and the increasing market demand for preclinical and non-clinical studies have made this multi-million dollar investment an organizational priority for the company.

“BASi’s growth has been built on a solid foundation of quality, on-time delivery and a loyal client base,” said Philip Downing, senior vice president of Preclinical Services at BASi. “We expect this momentum to continue well into 2018 and beyond. We are currently improving our environmental systems and infrastructure, and this further investment in expansion and upgrading facilities will allow us to better serve our clients while stabilizing current jobs and creating new workforce opportunities in the Evansville and surrounding markets.”

With a timeline for completion within the next 18-24 months, the company expects an increase in capacity of up to 30% with the planned expansion and renovation on the 52-acre campus. Backlog remains particularly strong, and this expansion is part of the company’s strategy to increase research capacity to meet that demand.

Our outlook is very positive as we consider evolving industry demands and how BASi is poised to meet them. These facility upgrades and the talented people supporting them will allow us to maintain our longstanding commitment to clients and their drug development success.

Peter Kissinger

BASi Founder and Scientific Adviser

BASi founder and scientific adviser Peter Kissinger commented, “Our outlook is very positive as we consider evolving industry demands and how BASi is poised to meet them. These facility upgrades and the talented people supporting them will allow us to maintain our longstanding commitment to clients and their drug development success.”

About Bioanalytical Systems, Inc.

BASi is a pharmaceutical development company providing Preclinical, Toxicological and Bioanalytical contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The Company’s laboratory, located near Evansville, Indiana, has been successfully providing clients with drug safety and toxicology testing services for over 40 years, including general toxicology services, carcinogenicity studies, DART, juvenile toxicology studies, bioanalytical supporting preclinical and clinical, and in vivo discovery. The Company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more information about BASi.

This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the company’s filings with the Securities and Exchange Commission.

Company Contact:
Jill Blumhoff
Chief Financial Officer &
Vice President of Finance
Phone: 765.497.8381
jblumhoff@BASinc.com

Source: Bioanalytical Systems, Inc.

https://www.newswire.com/news/steady-growth-spurs-plans-for-basi-expansion-of-glp-toxicology-20019505

DynaResource, Inc. Announces the Induction of Director and Senior Advisor Mr. Eduardo Luna as a Member of the Hall of Fame of Mexico Mining

OTCQB: DYNR–DynaResource, Inc. (“DynaUSA”, and “the Company”) is pleased to announce that Mr. Eduardo Luna, a member of the Company’s Board of Directors, and Special Advisor to Mineras de DynaResource S.A. de C.V. (“DynaMineras”), the exclusive operator of the San Jose de Gràcia Project (“SJG”) in the State of Sinaloa, México, was inducted into the “Hall of Fame of Mexico Mining” by the Association of Mining, Metallurgists, Geologists and Engineers of Mexico (“The Mexico Mining Association”), at the International Mining Congress held in October 2017 in Guadalajara, Mexico. The Mexico Mining Association reports over 3,500 members, and the 2017 International Mining Congress was attended by over 15,000 guests and contributors.

Mr. Luna is a respected, successful senior executive with over 40 years’ experience in the mining industry. Mr. Luna’s experience includes serving as a Member of the Board of Directors for major mining companies which have achieved success at the highest level of the mining industry. Mr. Luna currently serves as a member of the Board of Directors of Silver Wheaton Corp., which is the largest pure precious metals streaming company in the world. Mr. Luna has also served as a Member of the Board of Directors of Goldcorp Inc., Alamos Gold Inc., and Primero Mining Corp.

In addition to his roles on company boards, Mr. Luna has served in a variety of operational capacities.  From 1991 to 2005, Mr. Luna served as President of Luismin SA de CV in Mexico, which operated the Tayoltita Project for Goldcorp in Mexico. Mr. Luna also served as an Executive Vice President of Goldcorp. More recently, Mr. Luna served as President of Mexican Operations for Primero Mining from 2010-2015, during which time Primero Mining operated the Tayoltita Project.

During his distinguished career, Mr. Luna has received several mining industry recognitions and appointments, which include:

  • National Mining Award, Mexico, 1997;
  • President of the Mexican Chamber of Mines;
  • President of the Consulting Board for the School of Mines, Universidad de Guanajuato;
  • Member of the Advisory Boards of the School of Mines of National University of Mexico and University of Zacatecas;
  • President of The Silver Institute 2002 – 2003.

Mr. Luna received a Bachelor’s degree in Mining Engineering from Universidad de Guanajuato, 1971; an MBA from Tecnológico de Monterrey, 1979; and an Advanced Management degree from Harvard Business School.

In 1997 Mr. Luna was appointed Trustee of Fundación Pro Niños de la Calle, a charity that works with children living on the streets of Mexico City.

Mr. K.D. Diepholz, Chairman/CEO of DynaUSA, said “Mr. Luna is a consummate professional in the mining industry. His stature and successes in the industry are well-known. Mr. Luna’s vast experience and success at Tayoltita have transferred immediately to the underground test mining operations at SJG. In addition to the current underground mining development, we believe future development at SJG will include an expansion of the underground mining and pilot production activities, as well as the defining, and subsequent development of an open pit resource. We expect DynaMineras to accomplish a preliminary economic assessment report, scoping study, or similar report, which will be expected to support the project financing of the open pit operations at SJG.”

Mr. Luna said: “The DynaResource companies and the SJG Project offer a unique and substantial combination of opportunities. I recognize the possibility for the continued development of DynaResource into a mid-tier producer in the short-term and a first-class mining company in the longer term. I am very excited to join a very talented professional and management staff already in place at the DynaResource family of companies, both in the U.S. and in Mexico. I am looking forward to providing leadership, advice and guidance for the DynaResource Companies at this exciting growth phase, and I’m looking forward to the continuing development of the SJG Project into a world-class mining property.”

On behalf of the Board of Directors,

K.D. DIEPHOLZ;
DynaResource, Inc; Chairman and CEO

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS

The Company is an “OTC Reporting Issuer” as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions.

Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”) applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, “inferred mineral resources” have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although they may form, in certain circumstances, the basis of a “preliminary economic assessment” as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This News release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed “forward-looking”. All statements in this news release, other than statements of historical fact, that address events or developments that DynaResource expects to occur, are “forward-looking information”. These statements relate to future events or future performance and reflect the Company’s expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource. These forward-looking statements reflect the Company’s current internal projections, expectations or beliefs and are based on information currently available to DynaResource. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company’s plans at the San Jose de Gràcia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and México; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource available at www.sec.gov. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although DynaResource believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.

For further information on DynaUSA, DynaMineras, and DynaMéxico, please visit www.dynaresource.com or contact:

Brad J. Saulter, DynaUSA V.P. – Investor Relations; US Telephone: 972-868-9066

K.D. Diepholz, DynaUSA – Chairman / CEO

​DynaResource de México–Presidente; Mineras de DynaResource-Presidente

Source: DynaResource, Inc.

https://www.newswire.com/news/dynaresource-inc-announces-the-induction-of-director-and-senior-20041219

Leone Asset Issues Corporate Update

Press Release updated: Nov 1, 2017


​Today, Leone Asset Management (OTC PINK: LEON) issues a Corporate Update.

“I am very proud to announce that Cholesterade® has won a Finalist Award for new and innovative products in the Heart Healthy category in Supply Side West Editors Choice Awards. Cholesterade® was one of five finalists out of over 400 nominees. Needless to say, we are very excited and pleased to get this attention in such a short period of time and look forward to receiving many more awards in the future.

To continue, we had a very successful launch of Cholesterade® in the first quarter of 2017. The second quarter was mainly about adding additional independent locations around the country and to start introducing Cholesterade® to the small- and medium-sized chains. During the third quarter we continued with adding additional independent locations, and a few small chains such as Kinney Drugs (110 locations), we increased our online digital footprint and have set several large chain meetings. At the same time, our Medical Advisory board has continued conducting our multi-center clinical study that has been showing incredible results with the participants.

For those who are unfamiliar with the space we are operating in, it is important to know that within the sales process to retail, there are several steps involved and generally the process will take 1-6 months before we actually are on their shelves. It’s safe to say, the larger the chain the longer the process. We have met with and continue to set meetings with both regional and national chains and anticipate a favorable response to place Cholesterade® on their shelves during 2018. Once we are given acceptance, we will probably be given a 3-6 month timeframe in which the company stocks new product inventory for our category. Once again and just so everyone is clear, each chain places new products on their shelves at different times of the year depending on the actual category the product is in. This is a positive for us because it gives us the proper lead-time to build up inventories and plan an effective advertising and marketing campaign.

Even though we are still in our infancy with the National launch of Cholesterade®, we are pleased with our current growth rate. The second quarter experienced a 96 percent increase in sales over the first quarter, and the third quarter experienced an 86 percent increase over the second quarter.

During the third quarter we are happy to share with the public that we had a couple very nice endorsements that can be viewed on YouTube. John Basedow, one of the country’s top personal trainers gave us a glowing endorsement and it can be viewed at https://www.youtube.com/watch?v=xOMl43N16vI&t=48s. In addition, Joe Ciminera on Taste this TV also gave us a great endorsement which can be viewed at https://www.youtube.com/watch?v=6amJC_M2Y9E.

Last but not least, we continue some intense work with our consolidated accounting work and are doing all we can to get this completed as soon as possible so we can then complete our audits and file our registration statement and up-listing. I am anticipating being able to give a very definitive timeline on this process in next quarter’s update.

I want to offer a special thank you from the Leone Asset team for all of your support, and we wish you a very happy and successful last quarter and upcoming Holiday Season.”

About Leone Asset Management

Leone Asset Management, Inc., is a multi-national conglomerate with subsidiary companies that operate in Health and Wellness, Supplement Manufacturing and Distribution and Agriculture Management. For additional information, visit: www.leoneasset.com.

About Go Epic Health

Go Epic Health, a Leone Asset Management subsidiary, is a nutritional product holding company which owns the intellectual property and worldwide manufacturing and distribution rights to Cholesterade®, a natural cholesterol reducing product created by the late Dr. Robert Cade, creator of Gatorade®. Go Epic’s wholly owned subsidiary, American Retail Alliance, markets and distributes Cholesterade® as well as other new and innovative consumer goods through the nation’s largest retail pharmacy chain stores, drug and health food stores and product-specific catalogs. For further information, please visit www.goepichealth.com and www.gocholesterade.com.

Forward-Looking Statements Disclosure:

This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “beliefs,” “estimates,” “expects,” “intends,” ” plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matter that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.

Contact:

Woody Junot
President
Leone Asset Management
(727) 581-1500
wjunot@goepichealth.com

Source: Leone Asset Management

https://www.newswire.com/news/leone-asset-issues-corporate-update-20027446

Gaining Momentum: BASi Adds Candace Rohde-Johnson as Director of in Vivo Products and Services

Press Release updated: Oct 3, 2017


 Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”) today announced the addition of Candace Rohde-Johnson as Director of In Vivo Products and Services.

Ms. Rohde-Johnson will lead BASi’s In Vivo Products and Services Team with a focus on accelerating sales and expanding into new markets, contributing to product growth and innovation, and helping maintain the company’s longstanding commitment to its clients and their drug development success. She will also leverage her marketing experience to help create valuable content for the company’s clients and prospects, and provide surgical training and collaboration in BASi’s state-of-the-art vivarium using their Culex® in vivo sampling systems.

“Having previously been a member of the BASi team for nearly a decade, we know Candace well-and highly-regarded her as a competent researcher, exceptionally-skilled animal surgeon, and passionate advocate for our Culex product line,” said Jill Blumhoff, Chief Financial Officer and Vice President of Finance at BASi. “Candace has a true gift for listening closely to clients and turning their ideas into solutions. She is well-respected in our field and is known for her dedication, collaborative nature, mentorship, and enthusiasm.”

Having previously been a member of the BASi team for nearly a decade, we know Candace well- and highly-regarded her as a competent researcher, exceptionally-skilled animal surgeon, and passionate advocate for our Culex product line.

Jill Blumhoff

BASi Chief Financial Officer and Vice President of Finance

Rohde-Johnson is BASi’s second high-profile hire in recent months as the company further fills out its team of industry experts in contract research services, preclinical PK-PD and preclinical toxicology. With Candace and other key leaders in place, Peter T. Kissinger, BASi Founder and Scientific Adviser, believes that “BASi is well-positioned to further improve the reach of our innovative line of in vivo products and to help our clients optimize their drug discovery and preclinical development efforts.”

Ms. Rohde-Johnson earned a B.S. in Anthropology/Zoology from the University of Michigan in 2003. She has worked in animal research for more than 12 years, beginning in the lab and moving into customer support and management roles. Throughout her career, Candace has worked with clients worldwide to provide training, seminars and workshops focused on improving research results without sacrificing animal welfare.

About Bioanalytical Systems, Inc.

BASi is a pharmaceutical development company providing Preclinical, Toxicological and Bioanalytical contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The Company’s in vivo automated sampling center is a purpose-built facility including ten in vivo labs, colony rooms for rats and mice with individually ventilated housing systems (IVCs), rodent surgical site, and a wet lab and cage wash facility that is complemented by state-of-the-art cold storage, formulations and bioanalytical facilities. The Company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more information about BASi.

This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the company’s filings with the Securities and Exchange Commission. 

Company Contact:
Jill Blumhoff
Chief Financial Officer &
Vice President of Finance
Phone: 765.497.8381
jblumhoff@BASinc.com

Source: Bioanalytical Systems, Inc.

https://www.newswire.com/news/gaining-momentum-basi-adds-candace-rohde-johnson-as-director-of-in-19983551

BASi Strengthens Preclinical PK/PD Leadership With the Hiring of James E. Burleigh as Director of Operations, Preclinical PK/PD

Press Release updated: Sep 19, 2017


Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”) today announced the addition of James E. Burleigh as Director of Operations, Preclinical PK/PD.

“With his vast experience and impeccable reputation, we are incredibly pleased to have Jim Burleigh join the BASi team,” said Philip A. Downing, Senior Vice President of Preclinical Services. “Having worked for BASi before, Jim is very familiar with the company’s processes and objectives and is prepared to hit the ground running to optimize our Preclinical PK/PD operations. Jim is known for his collegiality, dependability and calm demeanor, making him the perfect anchor for leading and mentoring this team for ongoing success. His appointment represents yet another important step for BASi as we seek to further expand our preclinical capabilities and build on an already exemplary track record of supporting our clients’ drug discovery and preclinical development efforts.”

Mr. Burleigh will lead BASi’s Preclinical PK/PD Laboratory reporting to Philip A. Downing, Senior Vice President of Preclinical Services. Mr. Burleigh’s responsibilities will include, among others, directing DMPK studies in BASi’s state-of-the-art vivarium using their Culex® in vivo sampling systems, leveraging his experience in pharmacokinetics and IACUC, operations and administration oversight, while driving continuous improvement in quality and financial performance.

It’s great to welcome back one of our most innovative preclinical research leaders as we add to our services to validate drug leads on their way to the clinic.

Peter Kissinger

BASi Founder and Scientific Adviser

BASi founder and scientific adviser Peter Kissinger commented, “It’s great to welcome back one of our most innovative preclinical research leaders as we add to our services to validate drug leads on their way to the clinic.”

Mr. James Burleigh earned his B.S. in Zoology from Michigan State University in 1979. Mr. Burleigh has several years’ ascendant experience in scientist roles with Pfizer Global Research and Development (formerly Parke-Davis) from 1984-2002. As Director of In Vivo for BASi from 2003-2007, Mr. Burleigh developed, managed and directed facility operations in a new vivarium, and incorporated changes to transform the facility into a USDA regulatory environment. He also co-developed a novel, automated bile collection system for rats. As Sr. Research Scientist II for Wyeth Research (Pfizer) from 2007-2010, Mr. Burleigh served as IACUC liaison and managed discovery and development study coordination, new model development, and automated blood sampling. Mr. Burleigh’s most recent role was Associate Director, DMPK for Frontage Laboratories where he was responsible for in-life laboratory process, development and management.

About Bioanalytical Systems, Inc.

BASi is a pharmaceutical development company providing Preclinical, Toxicological and Bioanalytical contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The Company’s in vivo automated sampling center is a purpose-built facility including ten in vivo labs, colony rooms for rats and mice with individually ventilated housing systems (IVCs), rodent surgical site, and a wet lab and cage wash facility that is complemented by state-of-the-art cold storage, formulations and bioanalytical facilities. The Company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more information about BASi.

This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the company’s filings with the Securities and Exchange Commission.

Company Contact:
Jill Blumhoff
Chief Financial Officer &
Vice President of Finance
Phone: 765.497.8381
jblumhoff@BASinc.com

Source: Bioanalytical Systems, Inc.

https://www.newswire.com/news/basi-strengthens-preclinical-pk-pd-leadership-with-the-hiring-of-james-19942582

DynaResource, Inc. Announces News Release Issued by DynaResource De México, S.A. De C.V.

DynaResource de México S.A. de C.V. wins Amparo Trial against Goldgroup Resources Inc.


(OTCQB: DYNR; “DynaUSA”) reports that DynaResource de México SA de C.V. (“DynaMéxico”), the 100% owner of the San Jose de Gracia high-grade gold project, located in the County of Sinaloa de Leyva, State of Sinaloa, México, issued a news release dated Sept. 15, 2017, announcing the favorable ruling for DynaMéxico against Goldgroup Resources Inc. in an Amparo Trial (an appellate ruling) in the State of Veracruz, México.  Goldgroup Resources Inc. is reported to be 100% owned by Goldgroup Mining Inc., Vancouver, BC Canada.

The news release issued by DynaMéxico is set forth below:

“Mazatlán, Sinaloa, México (September 15, 2017) DynaResource de México SA de C.V. (“DynaMéxico”), the 100% owner of the San José de Gracia High-Grade Gold Project in northern Sinaloa, México, announces that on Aug. 24, 2017, a Federal Amparo Judge (“Juzgado de Distrito”) in the State of Veracruz, Mexico dismissed Goldgroup Resources Inc.’s Amparo Trial challenge to the $48 million USD damages award previously granted in favor of DynaMéxico. Pursuant to the ruling issued by the Federal Amparo Judge, the $48 M damages award – previously granted to DynaMéxico by the Thirty-Sixth Civil Court of the Superior Court of Justice of the Federal District of Mexico on Oct. 5, 2015 – was effectively confirmed.

In the Federal Amparo Court, Goldgroup Resources Inc. (“Goldgroup”) claimed that it was unaware of the Superior Court legal action which ultimately resulted in the $48 million damages award to DynaMéxico.  Goldgroup further claimed that this lack of knowledge was the reason for its having missed the deadline for filing an Amparo Trial challenge to the $48 million damages award.

The Federal Amparo Judge found, contrary to Goldgroup’s claims, both Goldgroup and its legal counsel had full knowledge of the existence of the Superior Court legal action since at least January 2015. Accordingly, the Federal Amparo Judge dismissed Goldgroup’s Amparo Trial challenge.”

Legal Background (Recent Awards – Legal Decisions in Favor of DynaMéxico):

$48M USD Damages Award and Definitive Sentence against Goldgroup (October 5, 2015):

DynaMéxico was awarded $48 million USD in damages against Goldgroup on October 05, 2015, as described in the Sentencia Definitiva (“Definitive Sentence”) issued by the Thirty-Sixth Civil Court of the Superior Court of Justice of the Federal District of México, File number 1120/2014.

Grant of Lien upon the Shares of DynaMéxico owned by Goldgroup (October 5, 2016):

On October 5, 2016, the one-year anniversary of the $48 M damages award, the Thirty-Sixth Civil Court of the Superior Court of Justice of the Federal District of México granted to DynaMéxico, a lien (referred to by the Superior Court as an “Embargo”) upon 100% of the shares of DynaMéxico previously issued to Goldgroup, which at the time constituted 20% of the outstanding shares of DynaMéxico.

The referenced 2015, 2016, and 2017 court rulings in Mexico, are all favorable for DynaMéxico. The cumulative effect of these rulings is as follows: (a) Goldgroup is responsible for the payment of $48 million USD in damages to DynaMéxico; (b) Goldgroup’s challenge to that award has once again been denied by an appellate court; and (c) Goldgroup’s 20% ownership of the share capital of DynaMéxico is subject to a lien in favor of DynaMéxico.

On behalf of the Board of Directors,

K.D. DIEPHOLZ;
DynaResource, Inc.; CEO

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an “OTC Reporting Issuer” as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions.

Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”) applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, “inferred mineral resources” have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although, in certain circumstances, they may form the basis of a “preliminary economic assessment” as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed “forward-looking”. All statements in this news release, other than statements of historical fact, that address events or developments that DynaResource expects to occur, are “forward-looking information”. These statements relate to future events or future performance and reflect the Company’s expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource. These forward-looking statements reflect the Company’s current internal projections, expectations or beliefs and are based on information currently available to DynaResource. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company’s plans at the San Jose de Gràcia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and México; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties.  In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource available at www.sec.gov. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although DynaResource believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.

For further information on DynaUSA, DynaMineras, and DynaMéxico, please visit www.dynaresource.com or contact:

  • Brad J. Saulter, DynaUSA V.P. – Investor Relations; US Telephone: 972-868-9066
  • K.D. Diepholz, DynaUSA – Chairman / CEO; US Telephone: 972-868-9066
  • DynaResource de México–Presidente; Mineras de DynaResource-Presidente

Source: DynaResource, Inc.

https://www.newswire.com/news/dynaresource-inc-announces-news-release-issued-by-dynaresource-de-m-19942744

DynaResource De México S.A. De C.V. Wins Amparo Trial Against Goldgroup Resources Inc.

DynaResource de México SA de C.V. (“DynaMéxico”), the 100% owner of the San José de Gracia High Grade Gold Project in northern Sinaloa México announces that on August 24, 2017, a Federal Amparo Judge (“Juzgado de Distrito”) in the State of Veracruz, Mexico dismissed Goldgroup Resources Inc.’s Amparo Trial challenge to the $48 million USD damages award previously granted in favor of DynaMéxico. Pursuant to the ruling issued by the Federal Amparo Judge, the $48 M damages award – previously granted to DynaMéxico by the Thirty-Sixth Civil Court of the Superior Court of Justice of the Federal District of Mexico on October 5, 2015 – was effectively confirmed.

In the Federal Amparo Court, Goldgroup Resources Inc. (“Goldgroup”) claimed that it was unaware of the Superior Court legal action which ultimately resulted in the $48 million damages award to DynaMéxico. Goldgroup further claimed that this lack of knowledge was the reason for its having missed the deadline for filing an Amparo Trial challenge to the $48 million damages award.

The Federal Amparo Judge found, contrary to Goldgroup’s claims, both Goldgroup and its legal counsel had full knowledge of the existence of the Superior Court legal action since at least January 2015. Accordingly, the Federal Amparo Judge dismissed Goldgroup’s Amparo Trial challenge.

Legal Background (Previous Awards – Legal Decisions in Favor of DynaMéxico):

The legal rulings referenced herein affect the two shareholders of DynaMéxico which currently are: (1) DynaResource, Inc. (OTCQB: DYNR); which holds 80% of the outstanding share capital of DynaMéxico; and (2) Goldgroup Resources Inc., which holds 20% of the outstanding share capital of DynaMéxico. Goldgroup Resources Inc. is reported to be a 100% owned subsidiary of Goldgroup Mining Inc.

$48 Million USD Damages Award and Definitive Sentence against Goldgroup (October 5, 2015):

DynaMéxico was awarded $48 million USD in damages against Goldgroup on October 5, 2015, as described in the Sentencia Definitiva (“Definitive Sentence”) issued by the Thirty-Sixth Civil Court of the Superior Court of Justice of the Federal District of México, File number 1120/2014.

Grant of Lien upon the Shares of DynaMéxico owned by Goldgroup (October 5, 2016):

On October 5, 2016, the one-year anniversary of the $48 M damages award, the Thirty-Sixth Civil Court of the Superior Court of Justice of the Federal District of México granted to DynaMéxico, a lien (referred to by the Superior Court as an “Embargo”) upon 100% of the shares of DynaMéxico previously issued to Goldgroup, which at the time constituted 20% of the outstanding shares of DynaMéxico.

On behalf of the Board of Directors,

K.D. DIEPHOLZ;
DynaResource de México, SA de CV.; Presidente

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company’s majority shareholder is an “OTC Reporting Issuer” as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian provincial Securities Commissions.

Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”) applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part of the mineral deposits in these categories will ever be converted to reserves. In addition, “inferred mineral resources” have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although in certain circumstances, they may form the basis of a “preliminary economic assessment” as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part, or all, of an inferred mineral resource, exists, or is economically or legally mineable.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed “forward-looking”. All statements in this news release, other than statements of historical fact, that address events or developments that DynaMéxico expects to occur, are “forward-looking information”. These statements relate to future events or future performance and reflect the Company’s expectations regarding the future growth, results of operations, business prospects and opportunities of DynaMéxico. These forward-looking statements reflect the Company’s current internal projections, expectations or beliefs and are based on information currently available to DynaMéxico. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company’s plans at the San Jose de Gracia property. Many of these assumptions are based on factors and events that are not within the control of DynaMéxico and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and México; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in Mexico; taxation; controls; regulations and political or economic developments in Mexico; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource, Inc., the majority shareholder of DynaMéxico, available at www.sec.gov. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although DynaMéxico believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. DynaMéxico expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events, or otherwise.

For further information on DynaMéxico, please contact:
Brad J. Saulter, V.P. – Investor Relations; US Telephone: 972-868-9066
K.D. Diepholz, DynaResource de México–Presidente; Telephone: 972-868-9066​

Source: DynaResource, Inc.

https://www.newswire.com/news/dynaresource-de-m-xico-s-a-de-c-v-wins-amparo-trial-against-goldgroup-19940607

BASi and JOANNEUM RESEARCH Enter Into Collaboration to Commercialize Open Flow Microperfusion Technology

Press Release updated: Sep 6, 2017


Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”), a recognized global leader in the development of instrumentation for microdialysis and in vivo sampling in animal models, today announced that it has entered into a collaborative agreement with JOANNEUM RESEARCH to commercialize the Open Flow Microperfusion (OFM) technology for preclinical applications. Under the terms of the agreement, BASi will be granted exclusivity to promote and distribute OFM products meant for preclinical research applications in the North and South American markets.

Open Flow Microperfusion (OFM) is a novel in vivo technology for continuous sampling of the interstitial fluid from brain and peripheral tissues. Application of the OFM technology is focused on cerebral tissue (cOFM) and dermal, as well as subcutaneous adipose tissue (dOFM, aOFM). OFM has the ability to sample a wide range of substances from small ions, small molecules, and lipophilic drugs to large proteins, antibodies, vesicles, and even cells.

The distinct advantage of OFM lies in the use of patented, membrane-free probes. Membrane-based sampling technologies like microdialysis are restricted by a nominal size cut-off value and encounter problems when sampling high molecular weight or highly lipophilic substances in the interstitial fluid. Minimally-invasive OFM probes overcome these problems by featuring an exchange area with no diffusion barrier instead of a membrane. OFM probes have either a linear (dOFM, aOFM) or a concentric design (cOFM). In combination with a specialized peristaltic OFM pump, OFM achieves a stable recovery of interstitial fluid samples. This unfiltered sampling results in a complete representation of the interstitial fluid for relative and absolute quantification in the target tissue. 

We have developed and validated Open Flow Microperfusion (OFM) in the last 20 years and created a tool that gives insight in local, tissue-specific Pharmacokinetic and Pharmacodynamics. We are more than happy that we found BASi as an experienced partner for the commercialization of our product in order to make our remarkable tool accessible for a wide range of customers.

Dr. Frank Sinner

Director of the Institute HEALTH at JOANNEUM RESEARCH

Importantly, cerebral OFM allows sampling with an intact blood–brain barrier as it, unlike existing cerebral microdialysis tools, features a membrane-free probe and uses a healing probe-dummy, allowing tissue regeneration without the formation of scar tissue at the implant site. Therefore, the possibility of long-term implantation into the brain makes cOFM an outstanding tool in the development of brain relevant pharmaceuticals.

“We couldn’t be more pleased to be partnering with JOANNEUM RESEARCH in bringing the innovative OFM technology to the scientific community,” said Dr. Srini Jayaraman, Product Manager and Principal Investigator at BASi. “OFM will be a potential tool for researchers interested in understanding tissue-specific Pharmacokinetics and Pharmacodynamics (PK-PD). Drug discovery and academic scientists in the fields of Neuroscience/Neuropharmacology, Dermal, Oncology, Biomarkers, and PK-PD research will benefit by getting access to this cutting-edge in vivo sampling platform. OFM has distinct advantages over microdialysis and ultrafiltration, like sampling with intact blood-brain barrier integrity and molecular size inclusivity, providing the competitive edge in characterizing neurotransmitters, peptide and protein biomarkers, antibodies, transporters, enzymes, bound and unbound drugs, and even vesicles and cells from the extracellular space. OFM products are compatible with BASi’s in vivo sampling systems and perfectly complement BASi’s product portfolio. We’re very much looking forward to launching this collaboration with JOANNEUM RESEARCH,” concluded Dr. Jayaraman.

Dr. Peter T. Kissinger, BASi Founder and Scientific Advisor, said, “When BASi started working on microdialysis instrumentation and services in the 1970s, and then commercialized the platform for brain and peripheral applications in the 1980s, the neuropharmacology focus was all on small molecule drugs and biogenic amine transmitters. Today, the measurement tools for proteins have advanced dramatically and many of our clients are interested in dynamic measurements in the fully functioning brain. We can’t efficiently achieve this with microdialysis, thus flow probes unimpeded by a membrane are very attractive. Our collaborators in Austria have been developing this concept in an elegant way. We are excited to now introduce OFM to the research community.”

“We have developed and validated Open Flow Microperfusion (OFM) in the last 20 years and created a tool that gives insight in local, tissue-specific Pharmacokinetic and Pharmacodynamics,” said Dr. Frank Sinner, Director of the Institute HEALTH at JOANNEUM RESEARCH. “We are more than happy that we found BASi as an experienced partner for the commercialization of our product in order to make our remarkable tool accessible for a wide range of customers.”

Dr. Thomas Birngruber, Leader of the OFM Research and Development Team at JOANNEUM RESEARCH said, “Currently, the main application fields for OFM are monitoring of transport across biological barriers such as the blood-brain barrier and the skin, as well as bioequivalence studies. OFM is also successfully used in drug and formulation development, biomarker research, and nanotechnology, as well as basic research projects such as the investigation of local immune cell populations and microvesicle release. We are happy to provide support with the application of OFM technology and design of optimized study setups.”

About JOANNEUM RESEARCH

JOANNEUM RESEARCH Forschungsgesellschaft mbH is a leading international research organization that develops solutions and technologies for businesses and industry covering a wide range of sectors. As an INNOVATION COMPANY focused on applied research and technology development, it plays a key role in facilitating the transfer of technology and knowledge in Austria.

HEALTH: The Institute for Biomedicine and Health Sciences acts as a link between basic medical research and industrial application in close cooperation with the Medical University of Graz. HEALTH, as the inventor of OFM, provides high-quality PK/PD services in preclinical and clinical settings ranging from experiments in explanted human tissue, different animal models, up to clinical studies in healthy subjects and patient cohorts with different conditions. These services are supplemented by GLP compliant bioanalytics, data management and statistics. Visit www.openflowmicroperfusion.com for more information about OFM.

About Bioanalytical Systems, Inc.

BASi is a pharmaceutical development company providing Preclinical, Toxicological and Bioanalytical contract research services and monitoring instruments to the world’s leading drug development companies and medical research organizations. The Company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.BASinc.com for more information about BASi.

This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the company’s filings with the Securities and Exchange Commission.

Company Contact:
Jill Blumhoff
Chief Financial Officer &
Vice President of Finance
Phone: 765.497.8381
jblumhoff@BASinc.com​

Source: Bioanalytical Systems, Inc.

https://www.newswire.com/news/basi-and-joanneum-research-enter-into-collaboration-to-commercialize-19883884