Corporate Report: Sept. 17 - Sept. 23

Cryo-Cell partners with Australian University

Pre-clinical studies using Oldsmar-based Cryo-Cell International's C'elle menstrual stem cell proprietary technology for identifying new therapies to treat autoimmune diseases such as multiple sclerosis will be conducted by scientists of Monash University's Centre of Inflammatory Diseases in Australia.

Autoimmune diseases are the result of the immune system attacking one's own tissues. Monash scientists have already shown that genetically modified bone marrow transplantation can promote tolerance by the immune system in a research study published in the American Society of Immunology's Journal of Immunology.

Dr. James Chan of Monash University, the largest in the country along with operating the largest research group, said in a press release, “The menstrual stem cell may potentially [be] highly prolific, non-invasive and cost-effective in the development of future cellular therapies to treat this debilitating autoimmune disease.”

Celle was introduced in November of 2007 as the first and only service designed to allow women to collect and cryopreserve menstrual flow for its undifferentiated adult stem cells.

World Wide Security plans to open new facility by mid-2011

Wide World Security Inc. of Bradenton plans to hire up to 100 employees over the next five years to run a $35-million headquarters and training center in eastern Manatee County on State Road 70.

The facility will provide training for police, fire, emergency management and private security agencies.

A first phase opening in the first half of 2011 is expected to include a 25,000-square-foot command center, office and training center with an indoor shooting range. Initially, the business will employ 15 instructors and other personnel.

With assistance from the Manatee Economic Development Council in applying, the startup was offered up to $100,000 over five years in performance-based incentives as it hires employees, plus a refund of $78,330 for transportation impact fees once it has received its first phase certificate of occupancy, both from the Manatee County Commissioners.

Wide World Security was formed in 2009 to provide private security services.

Florida Realtors to receive $16M from BP for effects of oil spill

Florida Realtors will receive $16 million from BP Plc to pay claims to its professionals, part of a larger allocation negotiated by five state realtor organizations, according to a press release.

“Providing this special allocation is a positive, responsive action — one that will help people move forward and reclaim their lives,” said Florida Realtors President Wendell Davis.

NCA, an independent Indiana claims adjustment firm, will handle the claims filed by Florida Realtors, formerly known as the Florida Association of Realtors that represents more than 115,000 members from 67 boards and organizations.

Tampa Electric files plan to drop fuel charge in 2011

Tampa Electric has applied to the Florida Public Service Commission for approval to lower the fuel portion of customer bills starting next year.

The fuel charge is based on lower costs for fuel and purchased power during the first six months of 2010 and projections that it will spend $67 million less on fuel for the remainder of this year than it earlier forecasted.

If approved, a typical 1,000 kilowatt-hour monthly residential bill would fall by $5.22 to $107.51. Commercial and industrial customers would shave 5% off their total bills.

Tampa Electric's fuel mix is primarily made up of coal and natural gas. It is the principal subsidiary of TECO Energy Inc., an energy-related holding company.

Walter Investment buying Marix Servicing LLC

Tampa-based Walter Investment Management Corp. has agreed with New York City-based Marathon Asset Management LP to purchase specialty mortgage servicer Marix Servicing LLC. The deal is expected to close within two months.

Marix, a Phoenix-based S&P Select Servicer, focuses on default management, borrower outreach, loss mitigation, liquidation, and component and specialty servicing, plus has relationships with each of the government-sponsored enterprises. The combined company will be one of the nation's top 10 servicers of sub-prime mortgages.

Mark J. O'Brien, Walter Investment's chairman and CEO, said in a press release, “Marix provides us with a superb mortgage servicing platform with a nationwide footprint, an independent revenue stream and a well-developed information technology infrastructure, including proprietary applications.”

Also, in the second of two deals totaling $20 million, the company bought a pool of residential first-lien performing mortgage loans predominantly in the South for $6.3 million, funds that came from a recent equity offering.

Walter Investment Management Corp. is an asset manager, mortgage servicer and portfolio owner focusing on less-than-prime, non-conforming and other credit-challenged assets. It has $1.9 billion of assets under management and annual revenues of $180 million.

Tampa pasta sauce company to sell shares to fund operations

Bella Patrella's Holdings Inc., a Tampa-based pasta sauce manufacturer, hopes to raise $1.3 million after underwriting expenses from selling 3 million shares of its common stock at 50 cents per share to raise capital funds for its operations.

A filing with the Securities and Exchange Commission stated: “We do not have sufficient capital to fund our plan of operations through 2011 without additional debt or equity funding.”

The filing also says another 6 million shares — half owned by JVW Entertainment Inc. — could soon change hands. Kodiak Capital Group, LLC, a New York-based equity firm, would buy the shares if a deal is made which would give it control of approximately 40% of BPH.

Tampa's Oragenics landS dual GNC distribution deal

Tampa-based Oragenics Inc.'s oral care probiotic EvoraPlus and its youth-focused oral care product EvoraKids will now be sold in GNC stores and in GNC concept stores, respectively.

Both products are forms of ProBiora3, a grouping of beneficial bacteria developed by Oragenics' chief scientific officer Dr. Jeffrey Hillman.

In June, the National Science Foundation awarded the firm a $500,000 grant.

Mary J. Blige fragrance breaks HSN sales records

Mary J. Blige's My Life fragrance set a new HSN category sales record of 60,000 units in just six hours on July 31, according to the St. Petersburg-based multi-media retailer.

The launch of the line supported the Foundation of the Advancement of Women Now, a non-profit created by Blige and Steve Stoute, chairman and lead investor of beauty lifestyle brand Carol's Daughter. For every unit of My Life fragrance sold, HSN Cares, an arm of HSN, donated $1 to FFAWN.

“The groundbreaking success changes the existing business model for a prestige fragrance launch and reinforces our role as a retail innovator,” HSN CEO Mindy Grossman said in a press release, adding that “Mary's inspiring story, her character, and, ultimately, her fragrance drew such an enthusiastic response.”

Offering the My Life line attracted nearly 20% new customers to HSN. Also, as part of HSN's continuity program, nearly 10,000 customers signed up to receive shipments of the new fragrance on a regular basis.

BayCare Behavioral Health opens recovery center in Lutz

BayCare Behavioral Health has opened the 72-bed Morton Plant North Bay Hospital Recovery Center in Lutz, the only hospital-based children's mental health facility in Pasco County that also provides acute care for adults.

BayCare will also begin construction later this year on St. Joseph's Hospital Recovery Center in Tampa, a 60-bed acute care, mental health facility for all ages, expected to open next year.

BayCare Behavioral Health is part of BayCare Health System, the largest community-based health system in the region with 10 nonprofit hospitals, outpatient facilities and services such as imaging, lab, behavioral health and home health care.