AMDL restructures business into three divisions

AMDL (Tustin, California), a vertically integrated pharmaceutical company with major operations in China and the U.S., said it has restructured its business into three distinct divisions to better reflect the company's operational focus "on becoming a world-class, diversified pharmaceutical company."

The new divisions include an In Vitro Diagnostics (IVD) division specifically focused on accelerating AMDL's market launch for the AMDL-ELISA DR-70 (FDP) cancer test; a Cancer Therapeutics division specifically focused on accelerating research for its Combination Immunogene Therapy (CIT) technology; and a China-based Integrated Pharmaceuticals division focused on the continued manufacturing, sales and distribution of AMDL's broad range of generic, specialty and branded pharmaceutical products.

"Segmenting AMDL's operations into these three distinct divisions provides us with greater market focus, increased flexibility across our diverse product portfolio, and a solid platform to successfully execute AMDL's key business goals," said Gary Dreher, president/CEO of AMDL. "We've achieved significant growth in sales and gross profits over the past 18 months and believe this refinement will strengthen AMDL's long-term growth position as a leading developer, manufacturer and supplier of high-quality diagnostic and pharmaceutical products."

deCODE genetics gets Nasdaq listing notice

deCODE Genetics (Reykjavik, Iceland) said that on Sept. 30 it received a notice from the Nasdaq Stock Market stating that for 10 consecutive trading days the market value of deCODE's common stock had been below $50 million, the minimum level required for continued listing on the Nasdaq Global Market as set forth in Nasdaq Marketplace Rule 4450(b)(1)(A). The notice further stated that deCODE also does not comply with an alternative test set forth in Nasdaq Marketplace Rule 4450(b)(1)(B), which requires total assets and total revenue of $50 million each for the most recently completed fiscal year or two of the last three most recently completed fiscal years.

In accordance with Nasdaq Marketplace Rule 4450(e)(4), deCODE will be provided a period of 30 calendar days, or until Oct. 30, to regain compliance. If at any time before Oct. 30 the market value of deCODE's common stock is $50 million or more for a minimum of 10 consecutive business days, the Nasdaq staff will determine if deCODE complies with Marketplace Rule 4450(b)(1)(A).

deCODE is a biopharmaceutical company applying its discoveries in human genetics to the development of diagnostics and drugs for common diseases.

VirtualScopics gets Nasdaq panel extension

VirtualScopics (Rochester, New York) said the Nasdaq Hearings Panel has granted the company's request to remain listed on the Nasdaq capital market and has allowed the company until Feb. 3, 2009 to regain compliance with the minimum bid price. The panel's decision represents the full extent of the panel's authority to grant an exception pursuant to Marketplace Rule 4802(b). The decision of the panel to grant the company's request for continued listing is subject to the condition that the company must have evidenced a closing bid price of $1.00 or more for a minimum of ten consecutive trading days by Feb. 3, 2009. In the event the company does not comply with these conditions, its common stock may be suspended from The Nasdaq Capital Market.

VirtualScopics makes imaging solutions to accelerate drug and medical device development.

Cisbio Bioassays opens new U.S. facility

Cisbio Bioassays (Bagnols-sur-Cèze, France), a member of IBA group and a maker of HTRF (Homogeneous Time-Resolved Fluorescence) technology and services used in assay development and drug screening, said that its U.S. subsidiary, Cisbio US, has moved to a new, expanded facility in Bedford, Massachusetts. The space features a larger laboratory designed to accommodate the growing demand for Cisbio US's custom assay development and labeling services from its U.S.-based customers.

Now occupying a 10,000-cubic-foot space, Cisbio US has doubled its laboratory capacity, built a cell-culture facility, and added two assay development scientists, each of whom bring over 10 years of industry experience to its technical team and bring the company's headcount to double that of two years ago.

The expanded space also will enable Cisbio US to welcome customers on-site for HTRF technology training, theory, and lectures, all of which are features of its service and support programs.

Zila asks Nasdaq to look into suspicious trading

Zila (Phoenix) said that, as a result of suspicious end-of-day trading in the company's stock during the past several weeks, the company has made an urgent request that Nasdaq undertake an investigation to determine the reasons for this activity.

Zila is a diagnostic company specializing in the treatment of oral cancer and periodontal disease. Zila makes ViziLite Plus with TBlue, the company's flagship product for the early detection of oral abnormalities that could lead to cancer.