Pharmacyte Biotech Inc (OTCMKTS:PMCB) released an update on the progress of the compliance process completion for Austrianova’s cGMP facility in the Thai Science Park in Thailand. In this facility, the genetically modified human cells will be encapsulated in the Cell-in-a-Box® capsules that the company will utilize in its clinical trials in diabetes and cancer.
As per the PR, Austrianova is on way of completing operational qualification, performance qualification and installation qualification on the clean room and related areas, and of the machines needed for the manufacturing procedure at the cGMP facility. It has successfully ended an audit performed by an expert with experience of over 15 years in the pharmaceutical industry. Currently, he is an external expert for the WHO, helping in assessments for the WHO prequalification plan that ensures the secure and safe supply of medical products for grave treatments.
The second OTC firm in focus is Cerebain Biotech Corp (OTCBB:CBBT) after it reported that it acquired financial commitment of $2 million. This financing will enable it to move forward with planned corporate developments. Cerebain reported that it has finalized a deal with GMEA to buy up to $1.6 million shares of its stock. The raised funds will be used to support business and financial development objectives that will assist the company accelerate its testing and research programs, primarily the research focused on the advancement of a new treatment targeting Alzheimer’s disease.
Celgene Corporation (NASDAQ:CELG) reported it has completed its acquisition deal of Receptos Inc (NASDAQ:RCPT). It paid Receptos stockholders $232 per share in cash, making the total consideration amount reach at approximately $7.2 billion. Following the merger, the stock of Receptos will no longer be listed on the NASDAQ or any other exchange as trading is ceased after the market hours on Thursday, August 27, 2015.