SARASOTA, Fla., Sept. 29, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.
ART International Corporation, (OTCBB:ARIOF), Seattle Genetics Inc. (Nasdaq:SGEN), Ligand Pharmaceuticals Inc. (Nasdaq:LGND) and Video Without Boundaries, Inc. (OTCBB:VDWB)
ART International Corporation (OTCBB:ARIOF) announced after the closing bell Tuesday that "its wholly-owned subsidiary, Diamant Film(tm) Inc., the North American distributor of a revolutionary non-PVC stretch wrap, has been authorized to use Canada's Environmental Choice (M) Program (ECP). The Environmental Choice Program is North America's leading benchmark of environmentally responsible products and services. Diamant stretch film has successfully met the criteria for both environmental and performance standards."
Stefan Gudmundsson, Chief Executive Officer of Diamant Film Inc., commented, "We realized that being environmentally and socially responsible is important to our customers, employees and shareholders."
ART International Corporation through its wholly-owned subsidiary, Diamant film Inc., has secured a ten-year agreement with Diamant Plastics Corporation for the exclusive marketing and distribution rights in the United States and Canada to Diamant film, a non-PVC food stretch film. Diamant film is the world's first, plasticizer-free stretch film based on polystyrene and the first food wrapping film that is environmentally friendly and recyclable.
ARIOF is currently trading around .35 a share.
On the Nasdaq --
Seattle Genetics Inc. (Nasdaq:SGEN)
Seattle Genetics Inc. announced Tuesday that it has received license for its proprietary antibody-drug conjugate (ADC) technology from Bayer Pharmaceuticals Corp. (NYSE: BAY), and that it has received $2 million fee from Bayer. The company added that under the terms of the multi-year license agreement, Bayer has agreed to make progress-dependent milestone payments and pay royalties on net sales of resulting ADC products.
The company said that this license provides Bayer with rights to utilize its ADC technology to link cell-killing drugs to antibodies against a specific tumor target selected by Bayer, and that Bayer is responsible for research, product development, manufacturing and commercialization of all products under the collaboration.
SGEN closed Tuesday's regular trading session up .15 at $6.63, on volume of 544,281 shares.
Ligand Pharmaceuticals Inc. (Nasdaq:LGND)
Healthcare and biotechnology company Ligand Pharmaceuticals Inc. said Tuesday that it has agreed to exchange its X-Ceptor shares for biotechnology company Exelixis Inc. (Nasdaq:EXEL) common stock. It further agreed to vote its X-Ceptor shares in favor of the merger between Exelixis Inc and X-Ceptor Therapeutics Inc which is anticipated to occur within the fourth quarter 2004.
The company announced that it currently owns 6.0 million preferred shares, or approximately 17% of X-Ceptor outstanding capital stock, and expects to receive approximately 610k shares of Exelixis Inc. common stock in exchange for its X-Ceptor shares, representing 24% of the total shares to be issued. These shares will be subject to trading restrictions for up to two years.
Shares of LGND finished Tuesday's session even at $10.15 on volume of 621,296 shares, while EXEL close at $8.12, up 0.35.
On the OTCBB --
Video Without Boundaries, Inc. (OTCBB:VDWB)
Broadband media device company Video Without Boundaries, Inc. announced Tuesday that it will be showcasing its exciting MediaREADY(tm) 4000 digital media center at Digital Hollywood, September 27-29, 2004 at the Santa Monica Beach Hotel, Santa Monica, CA. The MediaREADY(tm) 4000, a consumer electronics device the size of a DVD player, combines DVD/MPEG-1/MPEG-2/MPEG-4 playback with a media jukebox, web browser, karaoke, gaming, e-mail and much more, and is one of the first true platform products in the long-awaited home entertainment convergence marketplace.
The company stated that other company announcements expected at Digital Hollywood include the signing of several new partnership agreements with companies providing entertainment content for the MediaREADY(tm) 4000.
Jeffrey Harrell, President of Video Without Boundaries, Inc. said, "Digital Hollywood attracts major players like IBM, Microsoft, Sony Pictures, Sun Microsystems, Phillips, and BusinessWeek from the entertainment, media, and high-tech industries. VWB is pleased to present its breakthrough technologies to this audience, giving the MediaREADY(tm) platform tremendous exposure, resulting in major revenue growth."
The company added that its soon-to-be-announced content partners have been signed under the company's Content Provider Program, announced earlier this year. Companies already participating in the program include InGrooves, Blastro, Live 365, Adventures in OZ, and VegTV.
VDWB closed Tuesday up .07 at $0.67, on above average volume of 2,069,092 shares.
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