(January 18, 2011) Shares of Cyplasin Biomedical Ltd., a Canada-based company, soared in trading on Tuesday, ending the day 55.56% higher at $0.140.
In the last three trading sessions, the Cyplasin Biomedical stock has gained a spectacular 250%.
Last week, Cyplasin Biomedical provided a corporate update for the year 2010. The company said that during 2010 it secured a worldwide, exclusive license for a platform vaccine technology from the National Institutes of Health. The company said that before it secured the license, the licensed platform technology received a total of $10 million in investment.
Cyplasin Biomedical also said that during 2010 it saw the development of a parallel revenue generation strategy within the $2 billion per year therapeutic Hepatitis C drug market.
In 2010, Cyplasin Biomedical also entered into a letter of agreement with Minapharm Pharma for the possible co-product development and distribution of products.
During 2010, Cyplasin Biomedical also identified a cGMP manufacturer for the active pharmaceutical ingredient of the C-Virin product and initiated purchase orders from them. The company also negotiated the final terms with a formulation specialty company to make a C-Virin product line.
About Cyplasin Biomedical Ltd.: Cyplasin Biomedical Ltd. is a specialty pharmaceutical company. The company is headquartered in Edmonton, Alberta, Canada.
Summary
Cyplasin Biomedical made steady progress during 2010. The company’s shares have picked up strong momentum in the last three trading sessions.