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Archive for April 9th, 2013

Resverlogix to Spin-out RVX Therapeutics Inc. to Shareholders

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– Transaction Designed to Enhance Shareholder Value By Unlocking Value of the Epigenetics Platform

– TSX Exchange Symbol: RVX

CALGARY, Alberta, April 8, 2013 /PRNewswire/ — Resverlogix Corp. (TSX:RVX) (“Resverlogix”) today announced that its Board of Directors has approved a proposal to spin-out its subsidiary, RVX Therapeutics Inc. (“RVX Therapeutics”), which will focus on innovative drug research and development by leveraging its epigenetics platform. RVX Therapeutics will exclude Apolipoprotein A-1 (“Apo A-1”) and RVX-208 technologies, rather focusing on multiple therapeutic indications including autoimmune diseases and cancer.

The spin-out is to be implemented by way of a court-approved Plan of Arrangement (“the Arrangement”) pursuant to the Business Corporations Act (Alberta). The implementation of the Arrangement will be subject to, among other things, final board approval of the Arrangement and a shareholder vote.

Rationale

The spin-out of RVX Therapeutics reflects the Board of Director’s and management’s belief that it is in the best interests of shareholders to create a future value for its epigenetics platform and to provide a mechanism for the retention of possible future royalties on RVX-208 sales, depending on the deal structure finally negotiated.

Based on the belief that the RVX-208 program currently accounts for the entire market value of Resverlogix and that the value of the epigenetics platform is unrealized, the spinning out of RVX Therapeutics will facilitate a corporate structure that is more likely to reflect an accurate valuation of the epigenetics platform.

The objective of the spin-out is to split the clinical RVX-208 program (Resverlogix) from the epigenetics platform (RVX Therapeutics). In doing so, this process will create distinct corporate environments such that Resverlogix is structurally ready for acquisition while RVX Therapeutics’ future value could be realized through a licensing and/or partnering business model.

This has the potential to unlock the future value for RVX Therapeutics via research and development of the epigenetic mechanism and establishes a potential royalty stream from RVX-208. Enhanced long-term shareholder value is provided through direct valuations related to any future licensing and partnering deals.

In addition, the new structure will minimize future dilutions should either corporation require additional equity capital.

Resverlogix will continue to focus on the clinical development of RVX-208, its small molecule for the treatment of atherosclerosis through therapeutic increases in Apo A-1. In addition, Resverlogix will continue with its RVX-208 related clinical trial for diabetes and the soon to launch Alzheimer’s disease clinical trial.

RVX Therapeutics will focus on innovative drug research and development by leveraging its epigenetics platform in multiple diseases including autoimmune and oncology, excluding Apo A-1 and RVX-208 technology.

It is anticipated that the directors and senior officers of RVX Therapeutics will continue to consist of current directors and senior officers of Resverlogix.

Resverlogix shareholders to receive one share in each of the two companies

Under the terms of the Arrangement, Resverlogix’s shareholders will receive shares of a newly incorporated company (“Spinco”) that will own all of the shares of RVX Therapeutics on a basis that is proportional to their interest in Resverlogix. Every Resverlogix shareholder will receive one share in Spinco for every share held in Resverlogix at the effective date.

Every Resverlogix warrant holder at the effective date will receive one warrant in Spinco for every warrant held in Resverlogix. The exercise price of Resverlogix warrants would be reduced in accordance with the terms of the applicable warrant by an amount on a per share basis to reflect the fair market value of Spinco and the reduction would be allocated to the exercise price of the replacement Spinco warrants. If a Resverlogix warrant holder wishes to participate in the Arrangement and receive common shares of Spinco at the effective date, the warrant holder will need to exercise their Resverlogix warrants prior to the effective date of the Arrangement to acquire Resverlogix common shares.

Shares of Spinco will not be listed on an exchange initially, however the Board of Directors will give due consideration to whether it is in the best interests of shareholders of Spinco that the shares of Spinco are listed and at what time.

The implementation of the Arrangement will be subject to, among other things, board, shareholders, court and regulatory approvals, including TSX acceptance of the Arrangement.

Resverlogix must hold a special meeting of shareholders to approve the Arrangement. The record and meeting dates are anticipated to be on or around April 25, 2013 and May 28, 2013, respectively. A management information circular containing a complete description of the Arrangement and a description of tax implications to shareholders will be sent to shareholders of Resverlogix in connection with the special meeting to approve the Arrangement.

There can be no assurances or guarantees that the spin-out will be completed.

Resverlogix will host a live conference call and webcast with Q&A at 11 a.m. MDT, April 8, 2013.

Webcast Link:

http://services.choruscall.ca/links/resverlogix130408.html

Conference call-in numbers:

Canada & USA Toll Free Dial In:+1-800-319-4610 Outside of Canada & USA call:  +1-604-638-5340

About Resverlogix Corp.

Resverlogix Corp. (TSX:RVX) is a clinical stage cardiovascular company with an epigenetic platform technology that modulates protein production. Resverlogix is developing RVX-208, a first-in-class small molecule for the treatment of atherosclerosis. RVX-208 is the first BET bromodomain inhibitor in clinical trials. New compounds arising from Resverlogix’ epigenetic drug development platform function by inhibiting BET bromodomains and have the potential to impact multiple diseases including autoimmune diseases, cancer, neurodegenerative diseases and diabetes mellitus. Resverlogix’s common shares trade on the Toronto Stock Exchange (TSX: RVX). For further information please visit www.resverlogix.com. Follow us on our blog at http://www.resverlogix.com/blog/

This news release may contain certain forward-looking information as defined under applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. In particular, this news release includes forward looking information relating to the structure and timing of the proposed transaction, future royalties on RVX-208, future value of RVX Therapeutics and the epigenetics platform and future research and development activities. Our actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. We can give no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including but not limited to those assumptions and risk factors discussed in our Annual Information Form and most recent MD&A which are incorporated herein by reference and other documents we file from time to time with securities regulatory authorities, which are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. We disclaim any intention and have no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, please contact:

Company Contacts:  

Donald J. McCaffrey President & CEO Resverlogix Corp. Phone: +1-403-254-9252 Email: don@resverlogix.com

Sarah Zapotichny Director of Investor Relations Resverlogix Corp. Phone: +1-403-254-9252 Email: sarah@resverlogix.com

(RVX.)

 

Source: Resverlogix Corp.

Related stocks: Toronto:RVX

Written by asiafreshnews

April 9, 2013 at 5:23 pm

Posted in Healthcare

(ISC)2(R) Opens Nominations for Seventh Annual Asia-Pacific Information Security Leadership Achievements Program

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Nominations Open for Thought Leaders, Community Servants, Management Pioneers and Committed Practitioners in Information Security Industry

HONG KONG, April 8, 2013 /PRNewswire/ — (ISC)2® (“ISC-squared”), the world’s largest not-for-profit information security professional body and administrators of the CISSP® today announced the opening of nominations for its seventh annual Asia-Pacific Information Security Leadership Achievements (ISLA®) Program. To nominate an executive or information security professional, please visit https://awards.isc2.org and select “ISLA Asia-Pacific”. (ISC)2 officials will honor this year’s honorees at a gala dinner on August 8 in conjunction with the SecureAsia@Manila Conference in Manila, Philippines.

The Asia-Pacific ISLA Program, launched in 2007 as part of (ISC)2’s global Awards Program, recognizes the ongoing commitment by information security leaders in Asia-Pacific to build a highly qualified and ethical information security workforce. Asia-Pacific ISLA recognition is independent of professional certification. Professionals can be nominated in three distinct categories: Senior Information Security Professional; Managerial Professional for an Information Security Project; and Information Security Practitioner.

A nominations review committee, comprised of members from the (ISC)2 Asian Advisory Board (AAB) and previous Asia-Pacific ISLA honorees will review all applications based upon the selection criteria and eligibility requirements. For a list of nominations review committee members, please visit https://www.isc2.org/InnerPage.aspx?id=6120.

“Since 2007, (ISC)2 has recognized over 200 information security professionals through the Asia-Pacific ISLA Program,” said W. Hord Tipton, CISSP-ISSEP, CAP, CISA, (ISC)2 executive director. Year after year, we are reminded of the importance of showcasing information security professionalism, innovation, and leadership being displayed to increase awareness for the efforts these professionals put forth every day to make the cyber world a safer place. We look forward to honoring their achievements amongst peers and dignitaries in Manila this year.”

For more details about the program and nomination criteria, please visit https://www.isc2.org/isla/default.aspx. To view the 2012 showcased honorees’ achievement details, please visit https://www.isc2.org/isla-showcased-projects.aspx. To nominate a professional, please submit your nomination form at https://awards.isc2.org. The deadline for nominations is May 24, 2013.

About (ISC)2

(ISC)2 is the largest not-for-profit membership body of certified information and software security professionals worldwide, with nearly 90,000 members in more than 135 countries. Globally recognized as the Gold Standard, (ISC)2 issues the Certified Information Systems Security Professional (CISSP®) and related concentrations, as well as the Certified Secure Software Lifecycle Professional (CSSLP®), Certified Authorization Professional (CAP®), and Systems Security Certified Practitioner (SSCP®) credentials to qualifying candidates. (ISC)2’s certifications are among the first information technology credentials to meet the stringent requirements of ISO/IEC Standard 17024, a global benchmark for assessing and certifying personnel. (ISC)2 also offers education programs and services based on its CBK®, a compendium of information security topics. More information is available at http://www.isc2.org.

© 2013, (ISC)2 Inc. (ISC)2, CISSP, ISSAP, ISSMP, ISSEP, CSSLP, CAP, SSCP and CBK are registered marks of (ISC)2, Inc.

Kitty Chung
(ISC)2 Asia-Pacific
+852-3520-4001
kchung@isc2.org

Written by asiafreshnews

April 9, 2013 at 12:27 pm

Posted in Uncategorized

Asia Welcomes a Free Social Media Monitoring Tool: Buzz Equity

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BEIJING/PRNewswire/ — SinoTech Group, a social intelligence firm, announced today the launch of its latest product, Buzz Equity: a real-time social search that helps Brands, SME’s and consumers understand their social media value. Apart from providing social media insights like sentiment to authorship, Buzz Equity leverages sophisticated algorithms to determine a social value score that helps establish a Brand value determined by the social sphere.
Buzz Equity includes both Western and Asian social platforms within the analytics and therefore makes it an important tool for those people wanting to gain deeper insights from these markets. This tool is freely available for anyone to search for his or her company’s Brand or their competitor’s information. Dr. Mathew McDougall, Founder & CEO of SinoTech Group, said, “SinoTech saw a huge hole in social media monitoring tools for Asia (specifically China), so we wanted to apply our technology to developing a free social search tool for understanding a Brand’s value. We have also extended this free tool for Marketers and larger Brands to capture this data over time with a professional version.”
The professional version of Buzz Equity extends from a single “snapshot” search to tracking a Brand’s activity over time. The upgrade offers a history of buzz metrics, trends and analytics insights, and extended monitoring of platforms and mentions. The option to pay using Paypal makes it safe and easy to “GoPro” at a reasonable flat rate of US$19.95/month.
About SinoTech Group
SinoTech Group is a leading social media technology and consultancy firm that has been helping Brands to “understand the conversation” to meet business goals since early 2007. China based, globally focused; allowing companies to gain social intelligence in China and around the world. SinoTech Group provides innovative social intelligence technologies, consulting and market analysis services designed for developing social media strategies from the inside out; for both the Chinese and Western Web.
SinoTech Group garners these insights and understandings from social activities online through its Social Intelligence Platform (SIP) and its newly launched Buzz Equity product. This information can form the basis of future online strategy, market positioning, competitive positioning or even act as a reputation monitoring platform.
For more information:
PR & Marketing Coordinator
Digital Jungle
Tel: +86-150-1151-2054
Email: robyn.barber@digitaljungle.com.cn
Interviews:
To arrange interviews with Dr Mathew McDougall, SinoTech Group Founder & CEO, please contact Robyn Barber, E-mail: robyn.barber@digitaljungle.com.cn
Source: SinoTech Group

Written by asiafreshnews

April 9, 2013 at 12:18 pm

Posted in Uncategorized