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CORAL SPRINGS, Florida, February 20, 2014 /PRNewswire/ --
Market snapshot updates and news developments for advancing cannabis and healthcare stocks: PetroTech Oil and Gas Inc. (OTC: PTOG), Tanke, Incorporated (OTC: TNKE), Strategic Global Investments, Inc. (OTC: STBV), Raptor Pharmaceutical Corp. (NASDAQ: RPTP) and Agenus Inc. (NASDAQ: AGEN).
PetroTech Oil and Gas Inc. (OTC: PTOG) announced the week that they have set up a subsidiary company in Colorado, and Washington, to serve as the foundation for the company's entry into the emerging market for medical and recently legalized recreational marijuana in the United States. PTOG will leverage its expertise in natural resource development in enhanced oil recovery and launch LP.US Management Group, Inc. The partnership allows The Company to secure a leadership position in the rapidly developing marketplace around legalized Cannabis and Hemp production. LP U.S. Management Group, Inc. which owns (http://www.legalizepot.us) is structured around three main divisions, including Entertainment Arts, Information and News, and Cannabis and Hemp Production. These divisions will work cohesively to produce and market medicinal and recreational marijuana, as well as the many fiber, oil and seed related Hemp products produced for home and commercial use. The Company is acquiring warehouse facilities in Telluride, CO, and currently has three growers in Colorado and two in Washington, with immediate plans for expansion already formalized.
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Tanke, Incorporated (OTC: TNKE), a diversified holding company focused on emerging technologies and "cleantech" is pleased to announced this week the signing of an incubation, management and investment agreement with Xinyue Coating and Finishing Ltd., a company headquartered in Jiaxing City, China. The agreement is expected to bring management revenues of $4.8 million in 2014 and additional incubation and investment revenues of $60 million.
Strategic Global Investments, Inc. (OTC: STBV) is pleased to announce that the Company has completed negotiations, and has signed an agreement for the purchase of Bearpot, Inc., controlling entity of an existing Marijuana Growing facility located in Teller County, Colorado. As a subsidiary of Strategic Global Inc., Bearpot, Inc. will function as the marijuana incubation and development sector of the Company. The transaction brings existing equipment and inventory; creating a successful model that the Company can duplicate as legalization continues to spread and markets continue to open nationwide and in Canada.
Raptor Pharmaceutical Corp. (NASDAQ: RPTP) today announced top line results from a planned 18 month analysis of an ongoing 3 year Phase 2/3 clinical trial of RP103 (delayed-release cysteamine) for the potential treatment of Huntington's disease (HD) in collaboration with the Centre Hospitalier Universitaire d'Angers (CHU d'Angers). A total of 96 patients with HD were randomized to treatment with RP103 or placebo. Eighty nine patients completed the initial 18 month phase. Analysis of all 96 patients enrolled in the trial showed a positive trend towards slower progression of Total Motor Score (TMS) in patients treated with RP103 vs. those patients on placebo, the primary endpoint of the study.
Agenus Inc. (NASDAQ: AGEN), a biopharmaceutical company developing novel immunotherapeutics, including a portfolio of checkpoint modulators (CPMs), anti-cancer vaccines and adjuvants, today completed the previously announced acquisition of 4-Antibody AG, a private European-based biopharmaceutical company. The acquisition includes the Retrocyte Display® technology platform which enables rapid discovery and optimization of fully human antibodies against a wide array of molecular targets. For the past three years, 4-Antibody has been applying Retrocyte Display to create therapeutic antibodies to six key checkpoint targets that regulate immune response to cancers and other diseases. The company has multiple preclinical immune CPM programs in development..
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