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Archive for February 22nd, 2012

Jubilant and Mnemosyne Pharmaceuticals Announce Drug Discovery Collaboration

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BANGALORE, India, Feb. 21, 2012 /PRNewswire-Asia/ —

Jubilant Biosys Limited, Bangalore announced today that they have entered into drug discovery collaboration with Mnemosyne Pharmaceutical Inc, Providence, Rhode Island that will seek to identify preclinical candidates in the area of neuropsychiatric diseases. The collaboration will focus on developing subunit selective NMDA receptor modulators (SNRMs) that Mnemosyne has identified. The alliance shall initially span a period of 2 years and may be extended on mutual consent across other therapeutic programs as well.

The multi-target program agreement will be enabled by the expertise of Mnemosyne in NMDA receptor pharmacology and supported by Jubilant’s translational center in Malvern, Pennsylvania and by scientists from Jubilant’s India based facilities. The collaboration will leverage the capabilities of the companies across medicinal chemistry, NMDA receptor pharmacology, electrophysiology, computational chemistry and DMPK and in vivo pharmacology as appropriate in progressing promising compounds that have been identified by Mnemosyne. Under the terms of the alliance agreement, Mnemosyne will exclusively own all IP generated and shall be responsible for clinical development and commercialization.

Commenting on this achievement, Sri Mosur, CEO & President, Global Drug Discovery & Development, Jubilant said: “We are pleased to collaborate with Mnemosyne Pharmaceuticals Inc, on the SNRM platform,We are excited about the Mnemosyne programs and enthused that our ion channel expertise in Malvern, Pennsylvania supported by already demonstrated capabilities in India will be leveraged in this collaboration to deliver optimal outcomes in the difficult area of neuroscience research. This creative alliance further demonstrates Jubilant’s commitment to global R&D in enabling early discovery research towards optimal commercialization.”

Commenting on the collaboration Mnemosyne CEO, Dr. Kollol Pal said that “Mnemosyne is very impressed with the integrated chemistry and biology expertise that has been assembled by Jubilant, particularly in the area of ion channels and neuroscience. We are looking forward to a successful collaboration with Jubilant that will produce first-in-class drugs that address the unmet medical need in neuropsychiatric diseases such as schizophrenia and Alzheimer’s disease.”

About Us

Jubilant Biosys Ltd. is a Bengaluru based subsidiary of Jubilant Life Sciences Ltd, headquartered in Noida, India. Jubilant Biosys, provides integrated drug discovery and development solutions to the global pharmaceutical industry. It is a pioneer in collaborative discovery research and development and is engaged in multiple partnerships with global pharmaceutical industry in therapeutic areas of Oncology, CNS and CVMED.

http://www.jubilantbiosys.com

About Mnemosyne

Mnemosyne Pharmaceuticals, Inc. is a privately-held, biotechnology company focused on the discovery and development of small molecule therapeutics for the neuropsychiatry market. The company’s drug discovery efforts are focused on targeting the NMDA receptor, which is known to be the “master” switch for learning and memory. Mnemosyne’s lead program is for schizophrenia, and the company is exploring additional indications including Alzheimer’s disease, recovery from stroke and traumatic brain injury and attention deficit/hyperactivity disorder.

http://www.mnemosynepharma.com

SOURCE﹛Jubilant Biosys Ltd

Written by asiafreshnews

February 22, 2012 at 3:10 pm

Posted in Uncategorized

Far East Energy Announces Investor Update Conference Call

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HOUSTON, Feb. 21, 2012 /PRNewswire-Asia/ — Far East Energy Corporation (OTC BB:FEEC) announced today that it will host an update conference call for shareholders and other interested parties on Thursday, February 23, 2012 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).

Conference Call Details
Date: Thursday, February 23, 2012
Time: 9:00 a.m. CT (10:00 a.m. ET)
Dial in access: 1-800-860-2442 (U.S. participants) or
1-412-858-4600 (International participants)
1-866-605-3852 (Canada participants)
Request connect: Far East Energy Conference Call
Call and Slides: http://www.fareastenergy.com

To participate in the conference call, participants have the option to listen to the call by toll-free dial in number, or to listen and view slides via the link posted on the website. The Q&A segment will be conducted live via conference operator. Please note: slides can be viewed during the call via the webcast link posted on the Company’s website at http://www.fareastenergy.com.

Far East Energy Corporation
Based in Houston, Texas, with offices in Beijing, Kunming, and Taiyuan City, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China.

Statements contained in this press release that state the intentions, hopes, estimates, beliefs, anticipations, expectations or predictions of the future of Far East Energy Corporation and its management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content; there can be no assurance as to the volume of gas that is ultimately produced or sold from our wells; the fracture stimulation program may not be successful in increasing gas volumes; due to limitations under Chinese law, we may have only limited rights to enforce the gas sales agreement between Shanxi Province Guoxin Energy Development Group Limited and China United Coalbed Methane Corporation (“CUCBM”), to which we are an express beneficiary; additional wells may not be drilled, or if drilled may not be timely; additional pipelines and gathering systems needed to transport our gas may not be constructed, or if constructed may not be timely, or their routes may differ from those anticipated; the pipeline and local distribution/compressed natural gas companies may decline to purchase or take our gas, or we may not be able to enforce our rights under definitive agreements with pipelines; conflicts with coal mining operations or coordination of our exploration and production activities with mining activities could adversely impact or add significant costs to our operations; the Chinese Ministry of Commerce (“MofCom”) may not approve the Modification Agreement to the Shouyang PSC (the “Modification Agreement”) on a timely basis or at all, or, if so, on commercially advantageous terms; our Chinese partner companies or MofCom may require certain changes to the terms and conditions of the Modification Agreement or our PSCs in conjunction with their approval, including reductions in acreage or a reduction in the term of the extension for the exploration period; our lack of operating history; limited and potentially inadequate management of our cash resources; risk and uncertainties associated with exploration, development and production of coalbed methane; proved reserves may not be reported in a timely manner or at all and, if reported, may be smaller than anticipated; our inability to extract or sell all or a substantial portion of our estimated Contingent Resources; we may not satisfy requirements for listing our securities on a securities exchange; expropriation and other risks associated with foreign operations; disruptions in capital markets affecting fundraising; matters affecting the energy industry generally; lack of availability of oil and gas field goods and services; environmental risks; drilling and production risks; changes in laws or regulations affecting our operations, as well as other risks described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission.

SOURCE﹛Far East Energy Corporation

Written by asiafreshnews

February 22, 2012 at 2:36 pm

Posted in Uncategorized

Far East Energy Announces Investor Update Conference Call

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HOUSTON, Feb. 21, 2012 /PRNewswire-Asia/ — Far East Energy Corporation (OTC BB:FEEC) announced today that it will host an update conference call for shareholders and other interested parties on Thursday, February 23, 2012 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).

Conference Call Details
Date: Thursday, February 23, 2012
Time: 9:00 a.m. CT (10:00 a.m. ET)
Dial in access: 1-800-860-2442 (U.S. participants) or
1-412-858-4600 (International participants)
1-866-605-3852 (Canada participants)
Request connect: Far East Energy Conference Call
Call and Slides: http://www.fareastenergy.com

To participate in the conference call, participants have the option to listen to the call by toll-free dial in number, or to listen and view slides via the link posted on the website. The Q&A segment will be conducted live via conference operator. Please note: slides can be viewed during the call via the webcast link posted on the Company’s website at http://www.fareastenergy.com.

Far East Energy Corporation
Based in Houston, Texas, with offices in Beijing, Kunming, and Taiyuan City, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China.

Statements contained in this press release that state the intentions, hopes, estimates, beliefs, anticipations, expectations or predictions of the future of Far East Energy Corporation and its management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content; there can be no assurance as to the volume of gas that is ultimately produced or sold from our wells; the fracture stimulation program may not be successful in increasing gas volumes; due to limitations under Chinese law, we may have only limited rights to enforce the gas sales agreement between Shanxi Province Guoxin Energy Development Group Limited and China United Coalbed Methane Corporation (“CUCBM”), to which we are an express beneficiary; additional wells may not be drilled, or if drilled may not be timely; additional pipelines and gathering systems needed to transport our gas may not be constructed, or if constructed may not be timely, or their routes may differ from those anticipated; the pipeline and local distribution/compressed natural gas companies may decline to purchase or take our gas, or we may not be able to enforce our rights under definitive agreements with pipelines; conflicts with coal mining operations or coordination of our exploration and production activities with mining activities could adversely impact or add significant costs to our operations; the Chinese Ministry of Commerce (“MofCom”) may not approve the Modification Agreement to the Shouyang PSC (the “Modification Agreement”) on a timely basis or at all, or, if so, on commercially advantageous terms; our Chinese partner companies or MofCom may require certain changes to the terms and conditions of the Modification Agreement or our PSCs in conjunction with their approval, including reductions in acreage or a reduction in the term of the extension for the exploration period; our lack of operating history; limited and potentially inadequate management of our cash resources; risk and uncertainties associated with exploration, development and production of coalbed methane; proved reserves may not be reported in a timely manner or at all and, if reported, may be smaller than anticipated; our inability to extract or sell all or a substantial portion of our estimated Contingent Resources; we may not satisfy requirements for listing our securities on a securities exchange; expropriation and other risks associated with foreign operations; disruptions in capital markets affecting fundraising; matters affecting the energy industry generally; lack of availability of oil and gas field goods and services; environmental risks; drilling and production risks; changes in laws or regulations affecting our operations, as well as other risks described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission.

SOURCE﹛Far East Energy Corporation

Written by asiafreshnews

February 22, 2012 at 2:35 pm

Posted in Uncategorized

Korn/Ferry International Appoints Robert Rozek as Chief Financial Officer

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LOS ANGELES, Feb. 21, 2012 /PRNewswire-Asia/ — Korn/Ferry International (NYSE: KFY), a premier global provider of talent management solutions, today announced that Robert Rozek has been appointed Chief Financial Officer effective immediately. Mr. Rozek joins Korn/Ferry with over 25 years of finance experience, having most recently served as Executive Vice President and Chief Financial Officer at Cushman & Wakefield, where he oversaw global financial and accounting operations. Prior to that, Mr. Rozek held senior leadership positions at Las Vegas Sands Corp. and Eastman Kodak, and spent five years as a partner with PricewaterhouseCoopers LLP. Mr. Rozek succeeds Mike DiGregorio who plans to pursue other interests.

“Korn/Ferry’s Board of Directors and I are excited to welcome Bob to Korn/Ferry,” said Gary Burnison, CEO, Korn/Ferry International. “We are confident that Bob’s broad finance experience and proven track record of managing global financial and accounting operations will benefit Korn/Ferry and its shareholders. We expect Bob to be an important part of Korn/Ferry’s continued success and I look forward to working closely with Bob as we work to drive shareholder value.”

Mr. Burnison added, “We thank Mike for his contributions as Korn/Ferry’s Chief Financial Officer during his time at the firm and we wish him every success in his future pursuits.”

About Korn/Ferry International

Korn/Ferry International, with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, engage, develop, and retain their talent. Visit http://www.kornferry.com for more information on the Korn/Ferry International family of companies, and http://www.kornferryinstitute.com for thought leadership, intellectual property and research.

SOURCE﹛Korn/Ferry International

Written by asiafreshnews

February 22, 2012 at 1:55 pm

Posted in Uncategorized

Dahabshiil CEO: Social Entrepreneurship is Key to Unlocking Somalia’s Potential

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LONDON, Feb. 21, 2012 /PRNewswire-Asia/ — The CEO of Dahabshiil, Somalia’s largest private sector employer, has called for the international community to help unlock the potential of social entrepreneurship in the region, so it can stage its own recovery from issues that have plagued it for more than 20 years.

Speaking ahead of the London Somalia Conference, to be chaired by British Prime Minister David Cameron, Abdirashid Duale, CEO of Dahabshiil, Africa’s largest money transfer business, said: “Somalis have high hopes that the international community will develop a concrete plan to improve the region’s future.

“The key to unlocking Somalia’s potential is international investment in social entrepreneurship and education. It will help Somalis help themselves by teaching them how to create new business opportunities, more jobs and a more sustainable economy. These practical alternatives will protect vulnerable Somalis, particularly younger generations, from the pressure put on them by extremist groups linked to piracy and terrorism.

“As the Somali proverb goes ‘the worst man is he who never sows, never consults and never economises’, meaning that our communities most value those that use their minds or assets to help themselves and others.”

The conference, organised by the Foreign and Commonwealth Office, will be attended by more than 40 governments and international organisations, including the United Nations, African Union, European Union and the World Bank. Somali officials, including the Presidents of the Transitional Federal Government (TFG), Somaliland, Puntland, Galmudug and Ahlu Sunnah wal Jamaah will also be in attendance.

To be held at Lancaster House on 23 February, the conference aims to deliver commitment and coordination for a new international approach to tackle Somalia’s problems of terrorism, piracy, food shortage and the political vacuum affecting the region.

Addressing an audience of Somalis at Chatham House recently, UK Foreign Secretary William Hague said he was confident the conference would mark a turning point by “putting the needs of Somalis front and centre.” Hague also emphasised that solutions must be Somali-led. “We can help get Somalia on its feet – we cannot do the running for it”, he said.

Mr Duale added: “The conference addresses issues that are highly political, but if the Somali region is to be rehabilitated, then its business community – domestic and international – must be central to any agreed plan. Diaspora-led businesses in Somalia play a crucial role in bringing expertise and investment to the private sector.

“Those Somalis with the most at stake, who understand the many complex issues first-hand, tend to be those who live and work within the region. In pursuit of sustainable development, stability and effective government, multi-lateral organisations such as the African Union, UN, EU and World Bank need to find ways to help these various groups play to their strengths.”

Dahabshiil, which handles the majority of the $1.6bn remitted to Somalia by its diaspora, has a long history of partnership with international organisations, supporting development initiatives and providing financial services to 95% of NGOs operating there. Dahabshiil Group spans money transfer, banking and telecoms, and employs around 5,000 people within Somalia itself, across regional and clan lines.

As part of a wide-ranging corporate social responsibility programme financed by 5% of its annual profits, the company funds the main hospital in Mogadishu and is a major donor to healthcare programmes throughout the Horn of Africa. At the height of last year’s drought, Dahabshiil donated over US$200,000 to the relief effort and called for other businesses to follow suit. The firm contributes to infrastructure projects and makes regular donations of cash and equipment to schools and universities throughout the region.

Mr Duale believes that alongside business growth it is imperative that Somalis have access to a good education. He said: “There are now ten universities in Hargeisa and an increasing number of young people are choosing to pursue further education within the Somali regions instead of leaving. It is vital that we, alongside the international community, continue to make strenuous efforts in education as it will play a vital role in the development of a sustainable economy.”

It is increasingly recognised that the Somali youth represent a great challenge both in the diaspora and in the region itself. The international community has already stepped-up its efforts to engage disenfranchised young Somalis in the UK, Mogadishu and elsewhere, with part-government funded organisations such as the London Somali Youth Forum playing a particularly active role.

Referring to recent actions of a Minnesota bank in the US, which stopped money transfers to Somalia in fear of prosecution under US anti-terror laws, Mr Duale expressed his concern for those who rely heavily on remittances to survive.

He said: “Annual remittances to the Somali region are greater than funding from international aid. The flow of financial and human resources between the diaspora and the domestic population is crucial to sustained development, and the international community should not obstruct the efforts of Somalis to help themselves, whether it’s by sending money or by travelling to and from the region.”

Following the global media’s recent focus on the international impact of piracy and terrorism, Mr Duale was keen to highlight the effect on day-to-day business in the region itself.

“The threat of piracy and insurgent groups translate to increased business costs, such as insurance, shipping and internal security for firms trying to operate in these areas. Greater stability and continuity in the Somali government is a prerequisite to any long term solution. The conference must lay the foundations for this, as businesses are currently at the mercy of the government’s constantly changing nature and its lack of effective authority.”

Looking ahead, Mr Duale believes that to secure a brighter future for all Somalis it is imperative the international community help to build better infrastructure – citing roads and hospitals as necessary sources of investment. He also believes that Somalia would benefit from greater UN involvement, including closer collaboration with the private sector and greater investment from Turkey, the Middle East and other members of The Arab League.

Mr Duale also welcomed the recent aid from international donors, but said further humanitarian support is still required.

SOURCE﹛Dahabshiil

Written by asiafreshnews

February 22, 2012 at 12:01 pm

Posted in Uncategorized