Corporate Report

Corporate Report

Study: SinoFresh spray kills MRSA in noses

Venice-based SinoFresh HealthCare Inc. reported that preliminary results from a successful pilot study indicated its SinoFresh nasal spray is useful in controlling Methicillin-resistant Staphylococcus aureus (MRSA), a bacteria infection in nasal passages that is resistant to many antibiotics.

The test, that took place at Virion Systems in Rockville, Md., followed an earlier study that was conducted at the Public Health Research Institute that was also successful.

"SinoFresh nasal spray used three times daily appeared to effectively eliminate MRSA in the noses of the test animals while leaving enough normal microbes to keep a normal population in the nasal passages," said Dr. John Todhunter, a SinoFresh consultant who oversaw the most recent study, in a press release.

MRSA is a growing concern in the health care community. It incubates in nasal passages and then adheres to skin where it can cause severe, virulent infections. Ultimately, MRSA can lead to disfigurement or death. It is believed that approximately two to three million people in the United States carry MRSA in their nasal passages. The ability to kill or severely reduce MRSA colonies is seen as an important weapon in fighting the spread of the bacteria.

Currently, an antibiotic Mupirocin is used to try to reduce MRSA. SinoFresh nasal spray attacks MRSA by physically destroying the super-bug's cell walls and membranes.

"Since bacteria can in effect change their metabolism to be resistant to antibiotics, but can't very well change the laws of physics, the chances for the development of resistance to SinoFresh Nasal Spray's mode of killing them is much lower," Dr. Todhunter said in a press release.

SinoFresh HealthCare develops and markets upper respiratory system therapies. The company is researching antiseptic approaches to reducing viral, bacterial and fungal organisms that are suspected to cause pathogenesis of the mouth, nose and throat. The company's lead product, SinoFresh Nasal and Sinus Care, is a cleansing spray that kills germs and removes other nasal/sinus irritants.

Intertape Polymer Group

releases new roof product

Intertape Polymer Group Inc., based in Bradenton and Quebec, has begun commercial production of a newly developed synthetic roof underlayment membrane product at its facility in Truro, Nova Scotia.

The company said initial sales of a pilot product line during the last few months were strong.

The new roof underlay, called Nova-Seal II, features unique properties designed to provide improved performance and significant cost savings compared to conventional products such as #30 building felt. Intertape's proprietary technology provides a membrane that is 80% lighter and easier to install. Nova-Seal is waterproof and wind-resistant plus has a patent-pending, anti-slip surface that is effective in both wet and dry weather.

"While the construction industry is currently in a downturn, we see a definite upside with this new product for Intertape," Jim Bob Carpenter, president of Intertape's engineered coated products division, said in a press release. "Currently the company has little or no market share in the estimated $800 million market and fully expects sales to grow quickly due to our superior performance and cost savings for the end user."

Intertape Polymer Group develops and manufactures specialized plastic- and paper-based packaging products and complementary packaging systems for industrial and retail use.

Cryo-Cell, EndGenitor plan

joint research program

Oldsmar-based Cryo-Cell International Inc. and Indianapolis-based EndGenitor Technologies Inc. have agreed to a new research collaboration to co-develop a cellular platform therapeutic for rapidly forming vasculature in injured tissues.

The research would focus on repairing damage in blood vessels by identifying the effected molecular and cellular components. Greater understanding of the complex process could likely pave the way for new therapeutics for treating cancer and cardiovascular disease.

The program will focus on the utilization of ECFCS (cord blood-derived endothelial colony-forming cells) and MenSCS (menstrual blood- derived cells). ECFCs are currently in pre-clinical development by EndGenitor for cardiovascular and other therapeutic applications. MenSCs, which were discovered and developed by Cryo-Cell, are specialized cells and are easily retrievable without invasive techniques.

"We think the project has significant potential, as both ECFCs® and MenSCs contribute to angiogenesis in vivo, which underscores the importance of further study into the potential synergy of these cells in the formation of vasculature," said Dr. Julie Allickson, vice president of laboratory operations and research and development at Cryo-Cell, said in a press release.

Cryo-Cell is one of the largest and most established family cord blood banks. EndGenitor focuses on developing unique adult stem cell therapeutics with a focus on cardiovascular, hematological and related areas. The company also sells adult stem cell products to the research market via its distribution partner Dynacell Life Sciences LLC.

MIVA rearranging its

European operations

Fort Myers-based digital media company MIVA Inc. is restructuring its MIVA Media E.U. operations. Scheduled to be completed in the fourth quarter, the action is expected to result in consolidation through the closure of several existing offices and a reduction in the company's European workforce.

MIVA Media E.U. is expected to reach Earnings Before Interest, Taxes, Depreciation and Amortization profitability in the fourth quarter as well. The restructuring follows losses in the E.U. in the first half of 2008 of about $4.5 million. It is expected that the restructuring expense will result in one-time charges to MIVA's third quarter operations of up to $4 million.

"We believe that this restructuring will enable us to continue to serve our advertisers and publishers across Europe, but on a profitable basis," Peter Corrao, president and CEO of MIVA, Inc., said in a press release. "We further believe that our U.S. and consolidated E.U. Media businesses should benefit from the new MIVA Media technology platform expected in the fourth quarter."

MIVA Inc. currently has European offices in the U.K., France, Germany and Spain.

In other news, MIVA Direct Inc., the company's toolbar, homepage and content division, has signed a co-branded toolbar distribution agreement with Comercio Mas, S.A. de C.V., which operates entertainment portals esmas.com, gyggs.com and tarabu.com. Comercio Mas is part of Grupo Televisa, the huge Spanish-language media company with interests that include television programming, direct-to-home satellite services, cable television and telecommunication services, magazine publishing and publishing distribution, radio production and broadcasting, professional sports and live entertainment.

MIVA has two focuses to its business: owning and operating a growing portfolio of consumer destination sites and interest-specific toolbars through its MIVA Direct division; and running a third-party, contextual pay-per-click ad network.

State approves site for

Seminole clean coal unit

The secretary of the Florida Department of Environmental Protection has signed a site certification order authorizing construction of a new clean coal-generating unit at Seminole Generating Station in Putnam County.

The station is owned and operated by Tampa-based Seminole Electric Cooperative Inc., which provides wholesale power to 10 member-owned electric distribution cooperatives in Florida.

The new 750-megawatt, supercritical unit 3 will join two 650-megawatt generating units at the Northeast Florida station. Units 1 and 2 are in the process of significant environmental upgrades that will allow unit 3 to be brought online without a net increase in the station's regulated emissions. Unit 3's site certification initially was denied by the state in 2007. Seminole appealed that denial. On June 13, the Fifth District Court of Appeal reversed the D.E.P., and instructed the agency to issue a certification order approving unit 3.

A final construction schedule for unit 3 has not yet been determined.

"After many delays and appeals we are pleased to have this certification in hand, which is a significant milestone for our clean coal project," Timothy S. Woodbury, Seminole's CEO, said in a press release. "Clean coal generation will help us maintain a diversified energy portfolio that in turn will help keep energy affordable and available for our members."

Etc...

HSN Inc. leaves IAC,

listed on NASDAQ

St. Petersburg-based TV, catalog and Internet retailer HSN Inc. completed its spin-off from IAC/InterActiveCorp. to become an independent, publicly traded company, and was listed on NASDAQ beginning Aug. 12 with the symbol "HSNi."

HSN Inc. has two operating segments, HSN and Cornerstone. HSN includes the TV network - reaching 90 million homes - and www.hsn.com, one of the top 10 most-used e-commerce sites. 

Cornerstone consists of seven lifestyle brands (Ballard Design, Frontgate, Garnet Hill, Improvements, Smith & Noble, The Territory Ahead and Travelsmith), each with its own e-commerce site, along with total annual distribution of 400 million catalogs.

WellCare Health Plans

makes payment agreement

Tampa-based WellCare Health Plans Inc. has reached an agreement with the U.S. Attorney's Office for the Middle District of Florida and the Florida Attorney General's Medicaid Fraud Control Unit to pay the attorney's office $35.2 million.

The figure is a best estimate of what WellCare Florida HMOs may owe to Medicaid for behavioral health capitation refunds that were not sent from 2002 to 2006. The figure does not include interest, fines, penalties or other assessments.

Investigators have been looking into whether WellCare made accounting errors in relation to its refund requirements under the behavioral health component of its Medicaid-services contract with the Florida Agency for Health Care Administration.

WellCare Florida HMOs expects to make a payment of at least $24.5 million so that money will be transferred to the appropriate federal and state agencies. The remaining $10.7 million of the payment will be held in an escrow account until a final deal is worked out with the federal government and the state.

Gevity plans 5-cent dividend,

31st quarterly payment

Bradenton-based PEO Gevity will issue a cash dividend of five cents per share of common stock, payable on Oct. 31, to shareholders of record on Oct.15.

Gevity offers human resource services including payroll and payroll administration, benefits and benefits administration, risk management and loss prevention, HR policies and procedures, new hire support, performance management and employee development and retention.

Brown & Brown buys assets

of Pennsylvania-based firm

A subsidiary of Daytona Beach and Tampa-based insurance firm Brown & Brown Inc. purchased the assets of Advanced Insurance Concepts Inc. of Bensalem, Penn.

Advanced Insurance Concepts, which recorded annual revenue of $2 million, offers employee benefit insurance products and services on behalf of brokers in Delaware, New Jersey and Pennsylvania.

Brown & Brown provides insurance and reinsurance products as well as risk management, third-party administration, managed health care, and Medicare set-aside services and programs.