BUSINESS NOTES MINIMED WILL FUND DIABETES RESEARCH.NORTHRIDGE - MiniMed Inc. said Friday it will fund a major research grant through the American Diabetes Association's Research Foundation. MiniMed, which makes medical devices to manage diabetes, said the $600,000 grant will allow the study over several years of insulin-pump therapy on glycemic Glycemic The presence of glucose in the blood. Mentioned in: Cholesterol, High glycemic pertaining to the level of glucose in the blood. control in insulin-using Type 2 diabetes type 2 diabetes n. See diabetes mellitus. patients aged 55 and older. Pump therapy has been shown to help patients with Type 1 diabetes type 1 diabetes n. See diabetes mellitus. and this gives an opportunity to study its effect on Type 2 patients, said MiniMed Executive Chairman Alfred E. Mann Alfred E. Mann (born 1925, Portland, OR), who is also known as Al Mann, is an American entrepreneur and philanthropist. He is a billionaire. Born and raised in Portland, his father was English and mother Polish. . - Daily News 3D Systems plans merger with DTM DTM dermatophyte test medium. VALENCIA - 3D Systems Corp. said Friday it has received a financing commitment from U.S. Bank in an amount sufficient to fund its tender offer for all the outstanding shares of common stock of DTM Corporation for $5.80 per share in cash. 3D Systems expects to commence the tender within the next five business days, consistent with the terms of the merger agreement between 3D Systems and DTM of April 2, 2001. Under the agreement, the tender offer will be followed by a merger in which each share of DTM common stock not tendered through the offer will convert to a right to receive $5.80 in cash. After the merger, DTM will become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of 3D Systems. - Daily News Photonix enters contract with DRS DRS Drives (street suffix) DRS Dispute Resolution Service DRS Doctorandus DRS Department of Rehabilitative Services DRS Direct Registration System (securities) DRS Department of Rehabilitation Services CAMARILLO - Advanced Photonix Inc., a leading developer and manufacturer of large-area avalanche photodiodes said Friday it has received a five-year, $1.7 million contract from DRS Optronics Inc.. DRS supplies missile tracking and imaging systems on a variety of tube- launched, optically tracked, wire-guided (TOW) missile platforms. Advanced Photonix supplies photodetector A device that senses light. It uses the principle of photoconductivity, which is exhibited in certain materials that change their electrical conductivity when exposed to light. See photoelectric, photocell and photodiode. assemblies used in the guidance systems of various modules of the TOW missile. The TOW missile was developed for the U.S. Army to defeat advances in the armor created by the advent of first- and second-generation explosive reactive armor. - Daily News Sunkist protests Argentine tariff SHERMAN OAKS - Sherman Oaks-based Sunkist Growers on Friday denounced Argentina's raise on the tariff it charges on U.S. citrus coming into its market. Argentina last week raised the duty it charges U.S. citrus coming into its market from 12 to 25 percent, according to Sunkist Growers. ``We believe this tariff increase demonstrates a willful disregard for an improved and reciprocal trading relationship with the United States,'' Sunkist Growers' Michael Wootton said in a letter to U.S. Trade Representative Robert Zoellick. - City News Service |
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