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GNVC, GIB, ITC, RRMS - CRWESelect.com Stock News! GenVec Inc., CGI Group Inc., ITC Holdings Corp., Rose Rock Midstream L.P. (Video Included Inside)
January 29, 2012 Investment news in Las Vegas,Nevada, United States of America
"GenVec, Inc. has extended its research collaboration and license agreement"
FOR IMMEDIATE RELEASE
Las Vegas,
Nevada,
United States of America
(Free-Press-Release.com) January 29, 2012 --
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GenVec, Inc. (NASDAQ: GNVC)
Biopharmaceutical company GenVec, Inc. - symbol GNVC - announced that it has extended its research collaboration and license agreement with Novartis. Novartis, through its subsidiaries, engages in the research, development, manufacture, and marketing of healthcare products worldwide.
Under the extension, Novartis will fund research at GenVec through January 2013 to support its hearing loss and balance disorders program.
"GenVec has worked closely with Novartis for the past two years to move this program forward and we remain committed to being a value added partner. This extension will allow GenVec to continue supporting this important effort," stated Douglas E. Brough, Ph.D., GenVec's Vice President of Research.
In January 2010, GenVec entered into a worldwide licensing and collaboration agreement with Novartis to discover and develop novel treatments for hearing loss and balance disorders. Under the terms of the agreement, if certain clinical, regulatory, and sales milestones are met, GenVec is eligible to receive up to $213.6 million, including upfront and milestone payments in addition to royalties on future sales.
In August 2010, GenVec entered into an additional agreement with Novartis, to manufacture clinical trial material for up to two lead product candidates for this program.
GNVC is a biopharmaceutical company using differentiated, proprietary technologies to create superior therapeutics and vaccines. A key component of our strategy is to develop and commercialize our product candidates through collaborations. GenVec is working with leading companies and organizations such as Novartis, Merial, and the U.S. Government to support a portfolio of product programs that address the prevention and treatment of a number of significant human and animal health concerns. GenVec's development programs address therapeutic areas such as hearing loss and balance disorders; as well as vaccines against infectious diseases including respiratory syncytial virus (RSV), herpes simplex virus (HSV), dengue fever, influenza, malaria, and human immunodeficiency virus (HIV). In the area of animal health we are developing vaccines against foot-and-mouth disease (FMD).
For more information about GNVC please visit http://www.genvec.com
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CGI Group, Inc. (NYSE: GIB) announced that Canada Post (CPC) has renewed and will expand its relationship with CGI Document Management Services for the delivery of print and mail services. Since 2006, CPC has used CGI's document management services for printing and insertion requirements in Central and Eastern Canada. Under the new agreement, CGI will provide the printing and insertion services across Canada. This new 5-year agreement is expected to generate over 125 million impressions and 52 million mail pieces annually.
CGI Group, Inc., through its subsidiaries, provides information technology (IT) and business process services in Canada, the United States, India, Europe, and the Asia Pacific.
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ITC Holdings Corp. (NYSE: ITC) will release consolidated financial results for the fourth quarter and year-end 2011 after market close on February 21, 2012. ITC also announced that it will conduct a webcast and conference call at 11 a.m. Eastern on Wednesday, February 22, 2012. The Company plans to discuss year-end 2011 results, provide an update on the previously announced transaction with Entergy Corporation and review ITC's updated stand-alone five-year plan, including capital investment plans and related financial forecasts. Joseph L. Welch, chairman, president and CEO, will provide a business and strategy overview, and Cameron M. Bready, executive vice president, treasurer and CFO, will discuss the financial results and forecasts.
ITC Holdings Corp., through its subsidiaries, engages in the transmission of electricity in the United States. The company operates as conduits, allowing for power from generators to be transmitted to local distribution systems either entirely through its own systems or in conjunction with neighboring transmission systems.
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Rose Rock Midstream, L.P. (NYSE: RRMS) announced that the Board of Directors of its general partner has declared a prorated cash distribution for the fourth quarter of 2011 of $0.0670 per unit. This distribution is the first declared by the partnership and corresponds to the minimum quarterly distribution of $0.3625 per unit, or $1.45 on an annualized basis, prorated for the partial quarter following the closing of the partnership`s initial public offering on December 14, 2011. The distribution will be paid on February 13, 2012 to all unitholders of record on February 3, 2012.
Rose Rock Midstream, L.P. acquires, owns, develops, and operates a diversified portfolio of midstream energy assets. It engages in the gathering, transportation, storage, and marketing of crude oil in Colorado, Kansas, Montana, North Dakota, Oklahoma, and Texas.
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