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Rusnano Capital LLC teamed up with New York-based I2BF Global Ventures to invest $150 million in nanotechnologies for Russia’s agriculture and water industries. Rusnano Capital, a unit of Russia’s state-owned OAO Rusnano, and clean-technology investor I2BF started a seven-year fund to invest in international businesses whose applications can be used in Russia, they said in an e-mailed statement. The I2BF-RNC Strategic Resources Fund, with a target size of $150 million, has $53 million already committed.
Spire Corporation (NASDAQ: SPIR) reported revenues from continuing operations for the second-quarter ended June 30, 2012 of $6.6 million, a 52% decrease from $13.9 million for the same quarter of 2011. This decline is primarily due to a decrease of $7.3 million in individual module equipment units delivered during the second-quarter of fiscal year 2012 as overcapacity in the global market continues to adversely affect the entire PV industry. Net loss for the second-quarter of 2012 was $1.8 million, or $0.21 per diluted share, compared with a net income of $0.7 million or $0.08 per diluted share for the second-quarter of 2011.
Starpharma Holdings Ltd (ASX:SPL; OTCQX:SPHRY) and Nufarm Australia (ASX:NUF) signed an agreement under which the parties will apply Starpharma’s Priostar(R) dendrimer technology to develop innovative crop protection formulations for Nufarm’s product portfolio.
The Company released also its annual report and financial results for the year ended 30 June 2012:
• Cash burn (cash outflows before new capital) for the year $9.9M;
• Cash position at end of year $42.8M;
• A$35 million placement and share purchase plan;
• Reported loss $13.7M.
• Full enrolment of the first of Starpharma’s two Phase 3 studies for VivaGel(R) as a treatment for BV; second Phase 3 trial nearing full recruitment.
• FDA and European (EMA) agreement on BV treatment Phase 3 design including Special Protocol Assessment (SPA) by FDA.
• Full recruitment for the Phase 2 clinical trial to investigate the ability of VivaGel® to prevent the recurrence of BV.
• Starpharma’s dendrimers improve efficacy of docetaxel in breast cancer model.
• Expansion of the development program with partner Lilly.
• Priostar(R) dendrimers result in significant improvement in performance of glyphosate (Roundup(R)).
• VivaGel(R)-coated condom agreement signed withAnsell.
• Starpharma elevated to S&P/ASX300 index.
• Signing of an agreement with Nufarm, one of the world’s leading crop protection companies.