TransTech Pharma completes End of Phase 2 meeting with FDA

TransTech Pharma Inc. announced today that it has successfully completed an End of Phase 2 meeting for TTP488 with the US Food and Drug Administration (FDA). TTP488 is under development for the treatment of mild to moderate Alzheimer's disease. The FDA Division of Neurology Products agreed that the data from the completed Phase 2 clinical trial is sufficient to support the start of a Phase 3 registration program. The FDA concurred with TransTech's proposal for the overall size and design of the planned Phase 3 clinical studies, the primary endpoints, the total safety database proposed for NDA filing, the clinical pharmacology program and the plan to apply for a Special Protocol Assessment ("SPA").

The Phase 3 clinical trial design for TTP488 will focus on patients with mild to moderate Alzheimer's disease. TransTech Pharma anticipates filing an SPA request within the next few weeks.

Also read: Elder Pharma surges post UK subsidiary buys Max Healthcare

"We are very pleased with the outcome of the End of Phase 2 meeting and look forward to working with the FDA to finalize the Phase 3 study design via the FDA's Special Protocol Assessment program," said Dr. Adnan Mjalli, TransTech's Chief Executive Officer. "This development represents another significant step in advancing the development of TTP488 toward meeting the huge unmet medical need for treatment of patients with Alzheimer's disease."

About TTP488

Substantial data suggest that "RAGE" molecules are involved in the pathogenesis of Alzheimer's disease, and that sustained amyloid beta interaction with RAGE at the blood-brain barrier (BBB), or in neuronal or microglial cells, is an important element of amyloid plaque formation and chronic neural dysfunction.

TTP488 is a novel, small-molecule, orally active antagonist of RAGE. In a recent double-blind clinical trial where data was taken over 18 months, TTP488 slowed cognitive decline in patients with mild to moderate Alzheimer's disease. TransTech Pharma discovered and developed TTP488 using its proprietary drug discovery platform, TTP Translational Technology.

About Alzheimer's Disease

Alzheimer's disease, the most common form of dementia, is a progressive neurodegenerative disorder that causes decline in cognition and functional abilities. It has been estimated to affect 5 million individuals in the United States, and represents the 6th leading cause of death. Worldwide, there are currently more than 35 million people with dementia, and the number is predicted to increase to over 115 million by 2050.

While current approved therapies for Alzheimer's disease focus on improving the symptoms of cognitive dysfunction, there is currently no treatment to slow disease progression.

About TransTech Pharma

TransTech Pharma is a privately held, clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of human therapeutics to fill unmet medical needs. The Company's high-throughput drug discovery platform, Translational Technology®, translates the functional modulation of human proteins into safe and effective medicines. TransTech Pharma has a pipeline of small-molecule clinical and pre-clinical drug candidates for the treatment of a wide range of human diseases, including central nervous system disorders, diabetes, obesity, cardiovascular disease, inflammation and cancer. For further company information, visit http://www.ttpharma.com .

21.03 | 0 komentar | Read More

Airpush launches AirDSP

Airpush (www.Airpush.com), winner of "Best Mobile Ad Network" at the 2012 MEA's, today unveiled its "AirDSP" platform to provide mobile real-time bidding capability for the company's 5,000+ advertisers.

Using AirDSP, advertisers can run campaigns across all major mobile RTB exchanges and SSPs from a single interface, using the most advanced optimization and audience targeting tools in the industry. Airpush has partnered with Inneractive, MobClix, MoPub, OpenX, Smaato and other mobile RTB supply sources around the world, in order to provide AirDSP clients with nearly limitless scale for RTB campaigns.

"Real-time bidding in mobile has recently experienced explosive growth, but the barriers to entry are extremely high for advertisers who want to enter the market and be competitive," said Asher Delug, Airpush Founder and CEO. "Only the largest advertisers and agencies are equipped to build connectivity to the exchanges, develop a bidding algorithm and media buying interface, and acquire data at a scale that is required to be competitive in today's mobile RTB market. Our vision for AirDSP was to break down those barriers to entry and give our 5,000+ advertisers a world-class platform to enter the mobile RTB market effortlessly."

Also read: Toshiba launches NFC(1) LSI for mobile payments

One of AirDSP's flagship features is Optimizer, a breakthrough, patent-pending optimization tool that can dramatically improve the performance of any RTB campaign. Optimizer "democratizes" the mobile RTB market by giving self-serve advertisers a level of bidding precision that was previously available only to programmatic buyers. The tool's core functionality is to display campaign performance metrics and trends across a high number of targeting parameters, while enabling advertisers to manage different bids, creatives, and landing pages for each targeting parameter independently. For example, a restaurant chain promoting a coupon campaign can automatically change the ad creative during breakfast, lunch, and dinner hours as well as raise bids 30 percent during the most profitable meal time.

In another major benefit to Airpush clients, AirDSP features a comprehensive set of open APIs. This enables agencies, ad networks, and resellers to offer mobile real-time bidding functionality to their clients via their own customer portal on a private-label basis. Every feature available in the AirDSP portal has been exposed via open APIs, enabling clients to fully replicate the power of AirDSP within their own web applications.

AirDSP is currently available on www.airpush.com. Current advertisers can log into their existing self-serve accounts for immediate access, and new advertisers can easily sign up by creating a free advertiser account on the Airpush website.

About Airpush

Named "Best Mobile Ad Network" at the 2012 Mobile Excellence Awards, Airpush is on a mission to redefine mobile advertising for publishers and advertisers. More than 100,000 apps and 5,000 advertisers rely on Airpush to deliver the industry's highest performance, driven by exceptional ad formats and targeting technology. Founded in 2011 by mobile advertising veterans, the company has approximately 140 employees and offices in Los Angeles and Bangalore. For more information, visit www.airpush.com or follow us on Twitter @AirpushAds.

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Fullerton India bags 3 awards for its CSR initiatives

Fullerton India Credit Company Limited was honoured with three awards last weekend for its CSR work in the community. At the Responsible Business Summit 2013- June 28'13, Fullerton India won awards in two categories- 'Best Corporate Social Responsibility Practice' and 'Best Community Development Program'. The Responsible Business Summit is a symposium on sustainability and was attended by leading Indian corporates. Fullerton India won its third award at the Corporate Excellence Awards June 29'13 for 'Best Community Development'. Endorsed by CMO Asia, the Corporate Excellence Awards are given out to corporates for excellence across all disciplines including Corporate Social Responsibility, IT, Finance & Marketing.

Fullerton India won the awards for the sustainable work that it has been doing in Rural India as part of its Livelihood Advancement Initiative. Deeply invested the development of rural India and its people, Fullerton India is committed towards development work amongst the communities it serves. It identifies programs in its rural branch catchment areas that have a sustained and positive impact on the community, thus helping the community to improve their income and standard of living.

As part of its CSR initiative, Fullerton India organises over 700 programs annually, benefitting more than 31,200 households last year alone.

Conceptualising Livelihood Programs with Partner organisations across disciplines, Fullerton India brings together Partner organisations like the Government, NGOs, Socio-Economic development organisations, Manufacturing and Trading organisations in the Private sector to implement the programs. Fullerton India's CSR programs and events are organised and run completely by its employees.

"Our CSR initiative is focussed on Rural Livelihood Advancement and designed to have a sustainable impact on its beneficiaries. These programs aimed at rural households are implemented by engaging over 2000 of our employees" said Ravi Shankar, EVP Rural Business, Marketing & CSR.

Also read: Fullerton India adopts Cloud for DR & infrastructure

Fullerton India is one of India's leading Non-Banking Finance Companies (NBFC). It has over 360 branches spread across 21 states in urban and rural centres. It offers several retail finance products for varying needs of customers in the locations it serves. Fullerton India has a widespread reach in Rural India through its network of 140 rural business branches called Gramshakti, which service over 15,000 villages. It is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.

21.03 | 0 komentar | Read More

Telecom commission approves 100% FDI in telecom service

Telecom Commission, an inter-ministerial body, today approved to hike foreign direct investment limit for telecom sector to 100 percent from 74 percent currently. Sources informed CNBC-TV18 that following the news, the Department of Telecommunication (DoT) is likely to soon move a cabinet note for 100 percent FDI in telecom services.

At present, FDI limit in the sector is 74 percent and 49 percent can be invested through automatic route. But to take it upto 74 percent, Foreign Investment Permission Board (FIPB) nod is required. In case 100 percent FDI is approved, 49 percent investment would still be allowed through automatic route.

Also read: TRAI to make suggestions for spectrum reserve price: Sibal

The idea behind increasing FDI limit in telecom sector is to help industry get fresh funds to lower financial burden. Reacting to the news of increase in FDI limit KPMG said that 100 percent FDI will help telecom companies to bring down debts. However the research firm does not see improvement in valuation of telecom companies on this regard.

Ernst & Young believes that the move will open door for new companies to enter the Indian market. Telecom major Reliance Communication said that the company supported government's move which will enhance value for all stakeholders.

Telenor too welcomed government's move and said that increase in FDI limits will help operators to attract more investment. Sistema Shyam which has been struggling to grow its foothold in the country after its licenses got cancelled said that this was a much needed policy decision and hailed it as pro industry and pro-consumer move. The largest telecom operator of the country Bharti Airtel too welcomed government's move.

MOH and security agencies to oppose 100% FDI

It must be noted that Ministry of Home Affairs and many security agencies had opposed the move to allow 100 percent FDI in telecom. Sources informed that MOH is likely to propose new security conditions for allowing 100 percent FDI. It may also seek enforcement of remote access bar, sources said.   

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3G row: Vodafone urges DoT to withdraw show cause notice

Objecting to the show cause notice issued to it on 3G intra-circle roaming, India's second largest telecom operator Vodafone on Tuesday said the move will undermine investors confidence and impact future spectrum auctions.

"At the outset we submit that the issue of this show cause notice is without authority of law as also bad in law," Vodafone's Resident Director TV Ramachandran said in the letter.

Also read: Vodafone offers Rs 40bn for licence renewal in 3 cities

Vodafone said that it reserves the right to take appropriate steps to seek damages for the losses that company is facing due to DoT's stance.

Department of Telecommunications (DoT) had issued the show cause notice to Vodafone on May 31 calling its roaming pact with Bharti Airtel and Idea Cellular in service area where the two did not win 3G spectrum in 2010 auction as violation of licence conditions.

The notice said the agreement signed between the company with Bharti Airtel and Idea Cellular was in nature of sub-leasing of 3G spectrum which is violation of licence conditions.

It mentioned that Bharti Airtel did not have 3G spectrum in Haryana, Maharashtra, UP East and Kolkata while Idea Cellular did not hold the spectrum in Chennai, Delhi, Kolkata and Tamil Nadu. The two companies were facilitating 3G services in these areas using Vodafone's spectrum.

The company argued that intra-circle roaming was allowed as per clarifications given by DoT before the 3G auctions and the position taken after it invested Rs. 11,617.86 crore for 3G spectrum in 9 service area "is contradictory".

Calling the stand of DoT "arbitrary, inconsistent, unfair and unreasonable", Vodafone said it will not only "give rise to serious disputes and challenges but will also irreparably impact all future auctions that may be conducted by the DoT as bidders would have no faith or rely on any statements made by the DoT."

The company has requested DoT to "withdraw the show cause notice", and provide explanation to its stand on 3G roaming agreement.

21.03 | 0 komentar | Read More

Diesel prices hiked by 50 paise/litre, excluding VAT

Jul 01, 2013, 06.59 PM IST

India Oil Corporation today announced a hike in diesel prices by 50 paise per litre, excluding VAT with effect from midnight tonight.

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Diesel prices hiked by 50 paise/litre, excluding VAT

India Oil Corporation today announced a hike in diesel prices by 50 paise per litre, excluding VAT with effect from midnight tonight.

Like this story, share it with millions of investors on M3

Diesel prices hiked by 50 paise/litre, excluding VAT

India Oil Corporation today announced a hike in diesel prices by 50 paise per litre, excluding VAT with effect from midnight tonight.

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Moneycontrol Bureau

After petrol price hike of Rs 1.82 per litre on Friday, Indian Oil Corporation today announced a hike in diesel prices by 50 paise per litre, excluding VAT with effect from midnight tonight.

This is the seventh hike in diesel price since January when the government authorised state-owned oil firms to increase prices by up to 50 paisa per litre every month till entire losses on the fuel are wiped out.

Also read: Petrol price up by Rs 1.82/L; to cost Rs 76.90/L in Mumbai

IOC further added that oil marketing companies' losses on diesel have widened to Rs 8.10 a litre from Rs 6.31 a litre at the middle of the month.

On Friday, petroleum minister Veerappa Moily had told CNBC-TV18 that diesel prices would not be increased by a higher quantum despite a depreciating rupee. OMCs will only be allowed to increase diesel prices once again only by the mandated quantum of 45 paise to 50 paise per litre.

Following are the revised prices of diesel in four metros after oil firms hiked rates with effective from midnight tonight.

Revised diesel prices
City	Current Price	Revised Price	Increase
Mumbai	56.99	57.61	0.62
Delhi	50.26	50.84	0.58
Chennai	53.54	54.15	0.61
Kolkata	54.57	55.16	0.59

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ESOP Direct launches Zero C for cashless exercise of ESOPs

Very often employees are constrained from exercising the options because they do not have enough funds to pay for the exercise price and perquisite tax. Loans are either not available immediately at that moment or the employee is not comfortable to borrow. Even if one were to borrow and fund the exercise, he / she is still exposed to the market risk (between the date of exercise and date on which shares hit the demat account) for more than a month. In a volatile market this period could wipe out the entire ESOP gains for the employee who has already paid the perquisite tax on the notional gain.

As another pioneering initiative, ESOP Direct has designed India's first Cashless methodology, Zero C, which has been vetted by legal experts and approved by regulators.

Harshu Ghate, Co-Founder & CEO of ESOP Direct says, "Time lag between the employee exercising and he getting the tradable shares is usually around 30-45 days. This is one loose end in the value realization process for the employee. Zero C is an online functionality on our platform which shortens this time lag to 5-7 days. Companies often ignore this pain point for the employee, which exposes him to market and financial risk. This unique solution will go a long way in making ESOPs a delightful experience for the employee and eventually the employer."

A core component of My ESOPs (ESOP Direct's platform for management of ESOPs), Zero C, allows employees to exercise their options without bothering to arrange for the funds. The tool manages the entire back-end process, settles the employee's liability and transfers the net gain to the employee's bank / demat account.

This process is extremely convenient for Foreign Nationals and Non Resident Indians who can exercise and get the money directly remitted to their bank account without opening a PAN / Bank / Demat account which is a very cumbersome and time consuming process for them.

Nalin Singla, Global Head Global Head Rewards & HR Operations, Ranbaxy Laboratories Ltd says "We have been using the Zero C tool from ESOP Direct for the last 3 quarters and it has significantly streamlined our exercise process. Our employees can now realize their ESOP gains fast and without much difficulty. The tool provides user friendly navigation. Over the last three quarters over 70% of exercises have been through the Cashless route, an indication that the employees prefer this mode"

About ESOP Direct

ESOP Direct is a leading solutions company in the space of Equity based compensation and offers services covering the entire life cycle of ESOPs including Plan conceptualization, Design, Documentation, Plan management, Compliance and reporting. ESOP Direct is the first and the only company to offer a full spectrum of integrated on-line stock plan management services, including plan administration, compliance, employee communication and online transaction capabilities. This service is delivered using their proprietary web based platform My ESOPsTM. ESOP Direct also offers a web based platform for financial reporting of stock options which includes valuation , expensing and reporting under IFRS, IGAAP & FAS 123R.

ESOP Direct, since its inception in 1999, has advised more than 500 companies on their ESOP design and implementation. It manages more than 250 Plans on its platform covering over 100,000 global employees.

21.03 | 0 komentar | Read More

Hero Moto's $25 mn EBR stake buy to help access US mkts

Hero Motocorp will be acquiring 49.2% stake in one of its technology partner firms; US based Eric Buell Racing (EBR) for USD 25 million.

The first tranche of  USD 15 million has already been invested while the remaining would be paid over the next nine months. The move marks a clear attempt by the country's largest two-wheeler maker to increase the focus on high-end premium bikes - a segment currently dominated by its Pune-based rival firm Bajaj Auto. 

Also read: Buy Hero MotoCorp, says Sudarshan Sukhani

Pawan Munjal, MD& CEO of Hero MotoCorp told reporters that post the stake acquisition, the company would get access to the US markets. "This relationship would also get extended into selling and marketing the products of both EBR as well as Hero MotoCorp, in the western market," he said.

He further added, "I am not looking at this partnership anytime in the near future to help us to get into the target of 1 million exports. That 1 million target is going to be achieved through our current products and some of the new products that we are building currently."

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DIPP, finmin officials discuss Mayaram panel report

Senior officials from the Department of Industrial Policy & Promotion (DIPP), the finance ministry as well as other departments huddled up on Monday to discuss the Mayaram panel report on FDI reforms.

Also read: Mayaram submits FDI report to FM; recommends hiking caps

The report calls for opening up of all sectors to the extent of 49 percent FDI through the automatic route, as well as allow 100 percent FDI in telecom and 74 percent FDI in retail and civil aviation.

The meeting of officials will be followed by a high-level meeting that will be chaired by the Prime Minister on FDI reforms later this month.

Earlier on Monday, commerce minister Anand Sharma met finance minister P Chidambaram to discuss the Mayaram Panel report as well as new norms for brownfield FDI in the pharma sector.

Anand Sharma, commerce minister, says, "The finance minister and I have had a rather comprehensive discussion and reviewed the overall situation with particular regard to CAD, the market's progress and the FDI scenario. We have been attracting FDI even during the difficult years and we hope to continue to do that."

21.03 | 0 komentar | Read More

Muthoot Finance applies for new banking licence

Moneycontrol Bureau

Kochi-based gold loan company Muthoot Finance applied for the new banking licence on Monday, July 1, the last date of application as stipulated by the Reserve Bank of India (RBI). Till the last week, there were 16 companies which had applied. On the last day, more companies are expected to submit their applications.

"The application for a banking license is indeed a major milestone for the Muthoot Group. With our last mile connect in to the rural hinterland, a banking license will enable us to play a larger role of financial inclusion by taking these services to the unbanked and underserved population of the country," George Alexander Muthoot, MD, Muthoot Finance said in a statement.

The application is in accordance with the guidelines issued by RBI for licensing of new banks in the private sector dated February 22, 2013. The decision was taken in the meeting of board of directors of the company held on June 30, 2013.

Muthoot Finance has a branch network of 4200 spread across 21 states and 4 union territories. Around 60% of this branch network is spread across tier II, tier III and tier IV cities. Muthoot Finance has also recently received in-principle approval from RBI to set up White Label ATMs.

Since last one year, Muthoot shares tanked more than 24 percent as against nearly 65 percent drop in Manappuram Finance, its business rival.

21.03 | 0 komentar | Read More