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Biospherics

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BUSINESS
May 6, 1992
This Greenbelt-based biotechnology company reported growth in revenues and profits for the first quarter, in large part because of a strong performance by the company's Information Services Division.The company said its Environmental and Laboratory Services Division reduced its loss, despite lower revenues, by instituting cost-cutting measures.Also during the first quarter, Pfizer Inc. purchased the right to negotiate with Biospherics for the commercialization of D-tagatose, Biospherics' patented, non-fattening sugar.
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NEWS
By Howard Witt and Howard Witt,CHICAGO TRIBUNE | July 5, 2005
ORACLE, Ariz. - As for-sale listings go, this one is a real fixer-upper: a 10-bedroom, five-bath glass house situated in Arizona's Sonoran Desert. The landscaping is lush, but it's a bit overgrown. There's a million-gallon pool, but the water is brackish. The utility bills are a bear - about $1 million a year. And the place is infested with five species of cockroaches and overrun with voracious ants. But if you're looking for a one-of-a-kind property set amid nearly 1,300 acres of cactus and tumbleweeds with spectacular mountain views, then the 137,000-square-foot Biosphere 2 just might be for you. This outsized glass terrarium was the place where eight scientists locked themselves inside in 1991 and lived for two years in hermetically sealed isolation, seeking to discover whether humans could replicate the ecology of Biosphere 1 - the Earth - inside a bubble, grow all their food and survive without help from the outside world.
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BUSINESS
November 26, 1992
Biospherics Inc. of Beltsville said yesterday that it would proceed without Pfizer Inc. to begin testing its low-calorie sweetener, D-tagatose, and that it hoped to market the product overseas within a couple years.After eight months evaluating the Biospherics product, Pfizer said the test results were encouraging, but that it would not go ahead developing the product as quickly as Biospherics wanted, said Gilbert V. Levin, president of the company.Biospherics said it had already made enough of the sweetener to begin tests in an industrial toxicology laboratory.
NEWS
By Andrew C. Revkin and Karen W. Arenson and Andrew C. Revkin and Karen W. Arenson,NEW YORK TIMES NEWS SERVICE | January 27, 2003
NEW YORK -- Columbia University plans to curtail sharply its financial support for Biosphere 2, the ambitious but troubled effort to simulate Earth's ecology under glass. The university is under contract with the owner of the Biosphere, a 250-acre research center in the desert north of Tucson, Ariz., to manage it until 2010. Three years ago, the university trustees approved $20 million to expand research and teaching programs there until 2005. But those efforts, and the fate of the center, are in doubt, many scientists and officials involved with the partnership said.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | September 13, 1995
No firm on Wall Street has an analyst who follows it. Only one firm anyone outside Wall Street junkies ever heard of even trades it. Legg Mason and T. Rowe Price, two of Baltimore's leading securities firms, say they don't own it.So how has Biospherics Inc. of Beltsville seen its roughly 4 million shares gain $75 million of value in the past week, propelling the tiny biotechnology company that made 5 cents a share in the first half of this year to a...
BUSINESS
January 24, 1998
Biospherics Inc. said yesterday that it won a contract to operate the reservations system for the National Park Service and expects to hire up to 200 employees to staff a call center in Cumberland.The publicly held company, based in Beltsville, said the contract is for a period of two years. The Park Service has the option to renew the contract on an annual basis for three years.Biospherics, which holds federal and state contracts to operate other information call centers, estimated that the contract would be worth $12 million in revenue if it is chosen to fulfill the contract for the five-year period.
BUSINESS
By John Woodruff and John Woodruff,Staff Writer | October 26, 1993
Stock in Beltsville-based Biospherics Inc. soared 72 percent yesterday, after the firm announced plans to sell a new low-calorie sweetener in overseas markets early next year.Vice President Lee R. Zehner said the plan became viable after the sweetener passed two testing milestones: creation of chocolate candies and spearmint chewing gums, and lab reports showing no toxic effects on animals that ate large amounts of it in addition to their normal diets.The stock shot up nearly 60 percent on the Nasdaq exchange within an hour after Mr. Zehner's announcement.
BUSINESS
By Timothy J. Mullaney | January 17, 1992
A Beltsville company that is trying to develop a sugar substitute that can be easily used in baking took a step toward getting the product on the market yesterday by winning a key patent, but the company's chief executive said the product is still years from the market.Biospherics Inc. said it had won a patent for calcium tagatate, a compound it uses in a previously patented process for making D-Tagatose, an artificial sugar derived from whey, a dairy byproduct.The company's chief executive, Gilbert Levin, said the new patent helped intensify the company's talks with potential investors, which are major food companies that would add the sugar substitute to their products.
BUSINESS
By Michelle Singletary and Michelle Singletary,Evening Sun Staff | June 19, 1991
For stockholders of Biospherics Inc., lightning does strike twice in the same place.For the second time in three months, the company's stock price has shot up. Yesterday the price rose 36 percent, but company officials said they didn't have a clue as to why it soared.In trading yesterday, the stock closed at $9.87 1/2 up $2.62 1/2 and 255,000 shares changed hands. On Monday, when the stock closed at $7.25, only 32,000 shares were traded.On April 5, Biospherics stock closed at $4. The following Monday, the stock soared to $7.25.
BUSINESS
By Timothy J. Mullaney | January 17, 1992
A Beltsville company that is trying to develop a sugar substitute that can be easily used in baking took a step toward getting the product on the market yesterday by winning a key patent, but the company's chief executive said the product is still years from the market.Biospherics Inc. said it had won a patent for calcium tagatate, a compound it uses in a previously patented process for making D-Tagatose, an artificial sugar derived from whey, a dairy byproduct.The company's chief executive, Gilbert Levin, said the new patent helped intensify the company's talks with potential investors, which are major food companies that would add the sugar substitute to their products.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | April 12, 2001
Biospherics Inc., a Beltsville-based biotechnology company, said yesterday that its patented low-calorie sweetener received approval from an independent panel of qualified experts, a finding that effectively clears the way for its sale in the United States. Biospherics stands to reap royalties from a roughly $2 billion world market for tagatose, a sweetener that "tastes, looks, feels and performs like table sugar," according to a company statement. "The approval was tremendously important," said Dr. Gilbert V. Levin, Biospherics' chief executive officer and chairman.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | October 26, 1999
Biospherics Inc. said yesterday that it could be getting closer to finally making money from production of a sugar substitute it developed a decade ago.The Beltsville company sold licensing rights to the substitute, called D-tagatose, three years ago to MD Foods Ingredients, a Danish dairy producer. MD Foods will produce tagatose, sell it to food manufacturers and pay royalties on the sales to Biospherics.In what Biospherics executives hope is a sign that MD Foods is getting ready to go into high gear on production of tagatose, the Danish company said it is planning to merge with the Swedish dairy-and-food products company Arla.
BUSINESS
January 24, 1998
Biospherics Inc. said yesterday that it won a contract to operate the reservations system for the National Park Service and expects to hire up to 200 employees to staff a call center in Cumberland.The publicly held company, based in Beltsville, said the contract is for a period of two years. The Park Service has the option to renew the contract on an annual basis for three years.Biospherics, which holds federal and state contracts to operate other information call centers, estimated that the contract would be worth $12 million in revenue if it is chosen to fulfill the contract for the five-year period.
NEWS
December 20, 1997
The location of Biospherics Inc.'s headquarters was incorrect in an article in yesterday's editions. The company is in Beltsville.The Sun regrets the error.Pub Date: 12/20/97
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | December 20, 1997
Beltsville-based Biospherics, Inc. said yesterday that it has raised $3 million to launch a subsidiary that will provide health care information and guidance to health maintenance organizations, HMO members and self-insured employer groups.Jeffrey W. Church, Biospherics' vice president and chief financial officer, said the money was raised from a single institutional investment group in a private offering.The investor, which the company declined to identify, purchased 375,000 units, each comprising two shares of common stock and two warrants.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | December 19, 1997
The location of Biospherics Inc.'s headquarters was incorrect in an article in yesterday's editions. The company is in Beltsville.The Sun regrets the error.A federal judge has thrown out a libel suit filed against the publisher of Forbes magazine by Biospherics Inc., a Columbia-based company which has developed a nonfattening sugar substitute.Biospherics filed the lawsuit against Forbes Inc. in July, contending that its stock price declined and the company had difficulty raising capital as a result of a column that appeared under the heading "Money & Investments," in the Jan. 13 issue of the business publication.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF Bloomberg News contributed to this story | September 5, 1997
Shares in Biospherics Inc. dropped 38 percent yesterday, after gum giant Wm. Wrigley Jr. Co. disputed that it is seeking a patent to use a sweetener the Beltsville company developed.More than 2.5 million shares traded hands as the stock dropped $4.593 to close at $7.531.Biospherics President and Chief Executive Officer Gilbert V. Levin reacted angrily to Wrigley's denial of the patent filing, which his company announced in a press release Wednesday. Biospherics share price tripled after the release.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | July 24, 1997
Biospherics Inc., a Beltsville-based company that has developed a sugar substitute called D-Tagatose, yesterday filed a $15 million libel lawsuit against Forbes magazine and a reporter.A spokesman in the legal department of Forbes declined comment yesterday.Biospherics contends in the lawsuit, filed in U.S. District Court in Baltimore, that its stock price declined and that the company had subsequent difficulty raising capital as a result of a column that appeared under the heading Money & Investments in the Jan. 13 issue of the widely read publication.
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