Cyanotech Reports Financial Results for the Third Quarter and First Nine Months of Fiscal 2012

— Net Sales Increase 71% for Third Quarter —

Cyanotech Corporation (Nasdaq Capital Market: CYAN), a world leader in microalgae-based, high-value nutrition and health products, today announced financial results for the third quarter and first nine months of fiscal year 2012, ended December 31, 2011.

Third Quarter 2012
For the third quarter of fiscal 2012 compared to the third quarter of fiscal 2011, revenues were $6,706,000 compared to $3,919,000. Gross profit was $2,827,000, with gross profit margin of 42%, compared to gross profit of $1,232,000 and gross profit margin of 31%. Net income was $1,113,000 or $0.20 per diluted share, compared to net income of $10,000 or $0.00 per diluted share.

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Valeant Pharmaceuticals Announces All-Cash Offer to Acquire Afexa Life Sciences Inc.

Valeant Pharmaceuticals International, Inc. ("Valeant") (NYSE/TSX:VRX), announced today that it has agreed to acquire Afexa Life Sciences Inc. ( - News) for approximately C$76 million.  Afexa, a health-science company headquartered in Edmonton, Alberta, Canada, currently markets several consumer brands, such as COLD-FX® and COLDSORE-FX™, and has annual revenues of approximately C$40 million.

"We are pleased to have the full support of Afexa's management team and board of directors for a transaction that we believe should deliver significant benefits to our customers, employees and shareholders," stated J. Michael Pearson, chairman and chief executive officer.

Read more: Afexa Life Sciences Inc ( FXA )

DSM to Acquire Martek to Add New Nutrition Growth Platform

  • DSM (NYSE Euronext: DSM KON) to offer US$31.50 for each share of Martek Biosciences Corporation (Nasdaq:MATK ) in an all-cash transaction (through a tender offer)
  • Total consideration of US$1,087 million (about euro 829 million)
  • Offer price represents 35% premium to Martek's closing share price on December 20, 2010
  • Martek Board of Directors recommends the offer
  • Acquisition adds new growth platform for natural, healthy Polyunsaturated Fatty Acids (PUFAs) nutrition ingredients (Omega-3 DHA and Omega-6 ARA)  
  • PUFAs are clinically proven to have important human health benefits. Martek is a leader in this field with strong positions, especially in Infant Formula Nutrition applications
    Read more: Martek Biosciences Corporation ( MATK )

Danone to Acquire Medical Nutrition USA, Inc.

Medical Nutrition USA, Inc. (NASDAQ:MDNU ) (and referred to herein as "MNI"), a developer and distributor of nutrition-medicine products, today announced that it has entered into a definitive merger agreement with Danone North America, Inc. ("Danone"), under which Danone will acquire all the outstanding shares of MNI for $4.00 per share in cash, in a transaction valued at approximately $62.3 million.

Under the terms of the merger agreement, a wholly owned subsidiary of Danone will merge into MNI, with MNI as the surviving corporation, and each outstanding share of common stock of MNI (other than dissenting shares) will be converted into the right to receive $4.00 per share, in cash. This price represents a premium of 44% over the closing share price of MNI's common stock on June 10, 2010.

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EnWave Announces Successful Test Results For Antibodies Using freezeREV Dehydration Technology

EnWave Corporation (TSX VENTURE: ENW.V) ("EnWave" or "the Company") today announced that it has successfully dried three different antibodies in the Company's prototype freezeREV vial dehydration technology. Results from this study showed no detectable visual difference between freezeREV-dried and freeze dried samples when examined with the SDS-PAGE electrophoresis method. Additionally, the indication of the molecular weight was similar between the two dried samples and liquid antibodies. Freeze drying, or lyophilization, is the current industry standard for dehydrating live or active organisms such as antibodies.

Freeze drying can be particularly harsh on sensitive materials such as antibodies because of the length of time the organisms are exposed to extremely low temperatures.

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