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Bipolar NewsDecember 22, 2005Note: One or more of the following articles may require a subscription to view the entire article. We cannot post articles that require a subscription. We are sorry for the inconvenience.
Drug maker signs funding deal
Mother feels guilty about medical disorder's effects
Woman charged in OWI crash that killed brother
Drug maker signs funding deal.The Record (Hackensack, New Jersey) (via Knight-Ridder/Tribune Business News); 12/21/2005 Byline: Dunstan Prial Dec. 21--Memory Pharmaceuticals Corp. on Tuesday announced a partnership with non-profit group Stanley Medical Research Institute that calls for Memory to receive up to $3.2 million to help develop its lead drug candidate, MEM 1003, for treating neurological disorders. The Montvale company also said MEM 1003 tests on Alzheimer's patients were successful in showing the drug safe and well-tolerated among 81 patients. On Tuesday, Memory's shares traded at four times the average daily volume, starting the day up more than 10 percent and closing at $2.12, down 5 cents. Brian Lian, biotechnology analyst at Fortis Bank, said Memory should benefit as much from Stanley Medical's Research's expertise as from the cash infusion. Stanley Medical Research of Maryland is "prominent in research into central nervous system disorders," according to Lian, and will make a "well-qualified partner." Moreover, the research partnership is intended to develop the drug as a treatment for bipolar disorder, a use Memory researchers had not previously made well known, according to Lian. "It opens up new possibilities" for the drug, he said. Under the financial agreement, Stanley Medical purchased 440,367 shares of Memory stock at $2.18 each, which comes to $960,000. According to a statement by the company, the remaining $2.24 million will be paid if Memory passes certain goals in clinical trials. The money will be earmarked for a Phase 2 clinical trial for the treatment of bipolar disorder and will be paid back to Stanley Medical through future royalties on MEM 1003. The Alzheimer's test revealed that MEM 1003 was well-tolerated for the most part, with headaches being the most common negative side effect. Memory went public in April 2004, selling its shares at $7 each. But the stock has since struggled, hovering around $2. The company has yet to earn a profit. In its most recent quarterly earnings report, Memory reported a loss of $11.2 million compared with a loss of $6.6 million during the same period in 2004. To see more of The Record, or to subscribe to the newspaper, go to http://www.NorthJersey.com. Copyright (c) 2005, The Record, Hackensack, N.J. Distributed by Knight Ridder/Tribune Business News. For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com. COPYRIGHT 2005 The Record A Goal for Patient Dignity.PR Newswire Europe; 12/20/2005 LONDON, December 20 /PRNewswire/ -- - Top Cleanliness Rank by Healthcare Commission for The Aspens, Mexborough The Healthcare Commission ranked The Aspens as one of the cleanest facilities in England early this week with a score of 99%. This result puts The Aspens as a leader in cleanliness management in the country and one of the top two independent mental health facilities surveyed. "To us, appearance and cleanliness are part of providing a therapeutic environment that shows respect for our patients. Modern and clean facilities are essential to a caring environment that can address their needs and overcome the stigma, often attached to mental illness," said Saleem Asaria, Chief Executive, Cambian Group. The Aspens ranking is the result of a series of unannounced inspections of facilities in England by the Healthcare Commission. 98 facilities were inspected for cleanliness. The management and systems in place for cleanliness were also surveyed. The Commission's Report noted that overall cleanliness standards were "markedly poorer" in mental health facilities than acute facilities. The 6 worst scoring facilities were NHS mental health facilities and 18 out of 22 bottom scoring facilities were in the mental health sector. The Report states that lower standards of cleanliness may be linked to low staff morale and poor levels of staffing. The Aspens, one of eight specialist facilities operated by Cambian Healthcare, provides intensive psychiatric rehabilitation services to the NHS. Patients are provided with a unique rehabilitation programme to develop the living skills, education and confidence required to successfully rebuild their lives. Typically patients have been diagnosed with Schizophrenia, Schizo-affective Disorders, Personality Disorder, Bipolar Affective Disorder or Depression. For more information please visit www.cambianhealthcare.com Contact: Evans Ward, Director of Business Development, Cambian Healthcare, +44-(0)207-348-5222, evans.ward@cambianhealthcare.com COPYRIGHT 2005 PR Newswire Association LLC |
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Featured Article:Don't be a Victim of Pharmacy ErrorsCNN Medical News published a story about a woman who was pregnant and filled a prescription for prenatal vitamins at her local Walgreens in St. Louis, Missouri. Unfortunately, this woman miscarried within a few weeks of taking the drug. Later, she learned that instead of being given a prescription for her prenatal vitamins (Materna), she had instead been given Matulane, which is a chemotherapy drug used to treat Hodgkin's disease, according to a lawsuit filed this month in federal court. According to the lawsuit, the drug (Matulane) is intended to interfere with cell growth and DNA development. According to the National Patient Safety Foundation, each year in the United States there are 30 million dispensing errors out of 3 billion prescriptions which occur at outpatient pharmacies. Some errors are minor, and some patients catch them easily; however, other errors can be serious. |
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