Click here to close now.

SYS-CON MEDIA Authors: Roger Strukhoff, Pat Romanski, Elizabeth White, Liz McMillan, Kelly Murphy

News Feed Item

Actinium Pharmaceuticals, Inc. Goes Public via a Reverse Merger into Cactus Ventures, Inc.

NEW YORK, Jan. 3, 2013 /PRNewswire/ -- Actinium Pharmaceuticals, Inc. ("Actinium") announced today that it went public via a reverse merger into Cactus Ventures, Inc. (OTCBB: CTVN), a fully reporting public company (the "Company") pursuant to a share exchange agreement dated December 28, 2012. As a result of the share exchange, former shareholders of Actinium became the controlling shareholders of the public Company. On the closing of the share exchange approximately 21% of Actinium's issued and outstanding shares were exchanged for 4,309,015 shares of the Company's common stock.  The Company's stock will trade under the name Cactus Ventures, Inc. until such time as the intended name change to Actinium Pharmaceuticals, Inc. takes effect.   

The Company will continue to exchange its shares of common stock for shares of Actinium held by the remaining Actinium shareholders and urges existing Actinium shareholders to do so as quickly as possible.

Jack Talley, our President and Chief Executive Officer, said: "As we are expanding our ongoing clinical trials and adding new ones, it is very important to have access to public markets and provide liquidity for our investors who helped us reach this stage in the clinical development of our drug candidates."

Mr. Talley will serve as our President and Chief Executive Officer of the newly public company.  Dragan Cicic, MD will serve as our Chief Operating Officer and Chief Medical Officer.  Enza Guagenti will serve as our Chief Financial Officer. Our Board of Directors will include Mr. Talley, Dr. Rosemary Mazanet, David Nicholson, Sandesh Seth and Sergio Traversa.  The Company will be based in New York, NY.

On December 26, 2012, Actinium announced that it completed a first closing of $5.1 million in its current round of financing (the "Offering"), for which Laidlaw & Company (UK) Ltd. is the exclusive placement agent. Funding from the Offering will be used primarily for further development of Actimab™A, Actinium's lead drug candidate in multicenter Phase I/II trials in Acute Myeloid Leukemia (AML) and Iomab™ – B, a Phase II clinical stage bone marrow conditioning agent for preparing patients for hematopoietic stem cell transplantation. 

Post the closing of the share exchange, the Company will continue the Offering on the same terms on a pro-forma basis with the common shares offered at $1.65 per share, the 120 day warrants exercise price at $1.65 per share and the 5 year warrants exercise price at $2.47 per share. Investors in the Offering will receive securities of the Company, the public company, and not Actinium.  The Company is authorized to sell up to $15 million in gross proceeds in the Offering.

More information about the transaction may be found in a current report on Form 8-K filed on January 2, 2013 with the United States Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to participate in the Offering. This press release is being issued pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended.

About the Company

The Company is a New York, New York based biopharmaceutical company that develops innovative alpha particle immunotherapeutics based on its proprietary platform for the therapeutic utilization of alpha particle emitting actinium-225 and bismuth-213 isotopes in association with monoclonal antibodies.  The Company also develops other radiopharmaceuticals for select applications.

Forward-Looking Statements

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, and to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from the Company.

For more information:

Visit our web site www.actiniumpharmaceuticals.com or contact:

Media:
Dennis S. Dobson Jr., 203-258-0159
Email: [email protected]
www.dobsonmediagroup.com

Jack Talley, CEO
Actinium Pharmaceuticals Inc.
Tel:  (646) 459-4201
E-mail: [email protected]

Investors:
Jeff Ramson
ProActive Capital Group, LLC
Tel:  (646) 863-6341
E-mail: [email protected]
www.proactivecrg.com  

SOURCE Actinium Pharmaceuticals, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use c...
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @Things...
“Oh, dev is dev and ops is ops, and never the twain shall meet.” With apoloies to Rudyard Kipling and all of his fans, this describes the early state of the two sides of DevOps. Yet the DevOps approach is demanded by cloud computing, as the speed, flexibility, and scalability in today's so-called “Third Platform” must not be hindered by the traditional limitations of software development and deployment. A recent report by Gartner, for example, says that 25% of Global 2000 companies will b...
Software-driven innovation is becoming a primary approach to how businesses create and deliver new value to customers. A survey of 400 business and IT executives by the IBM Institute for Business Value showed businesses that are more effective at software delivery are also more profitable than their peers nearly 70 percent of the time (1). DevOps provides a way for businesses to remain competitive, applying lean and agile principles to software development to speed the delivery of software that ...
Big Data is amazing, it's life changing and yes it is changing how we see our world. Big Data, however, can sometimes be too big. Organizations that are not amassing massive amounts of information and feeding into their decision buckets, smaller data that feeds in from customer buying patterns, buying decisions and buying influences can be more useful when used in the right way. In their session at Big Data Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positi...
JFrog on Thursday announced that it has added Docker support to Bintray, its distribution-as-a-service (DaaS) platform. When combined with JFrog’s Artifactory binary repository management system, organizations can now manage Docker images with an end-to-end solution that supports all technologies. The new version of Bintray allows organizations to create an unlimited number of private Docker repositories, and through the use of fast Akamai content delivery networks (CDNs), it decreases the dow...
More organizations are embracing DevOps to realize compelling business benefits such as more frequent feature releases, increased application stability, and more productive resource utilization. However, security and compliance monitoring tools have not kept up and often represent the single largest remaining hurdle to continuous delivery. In their session at DevOps Summit, Justin Criswell, Senior Sales Engineer at Alert Logic, Ricardo Lupo, a Solution Architect with Chef, will discuss how to ...
Thanks to Docker, it becomes very easy to leverage containers to build, ship, and run any Linux application on any kind of infrastructure. Docker is particularly helpful for microservice architectures because their successful implementation relies on a fast, efficient deployment mechanism – which is precisely one of the features of Docker. Microservice architectures are therefore becoming more popular, and are increasingly seen as an interesting option even for smaller projects, instead of bein...
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects - scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e....
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understand...
The truth is, today’s databases are anything but agile – they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver new features and capabilities needed to make your organization competitive. As your application and business needs change, data repositories and structures get outmoded rapidly, resulting in increased work for applica...