State sets $300,000 to stake biotech firm
The Arkansas Science and Technology Authority will invest $300,000 in a Fayetteville-based biotechnology firm over the next two years, the authority said.
Ascendant Diagnostics is developing a noninvasive test for early detection of breast cancer that will use protein deposits found in tear samples.
MelodyDX is a low-cost method of detection and uses technology developed at the University of Arkansas for Medical Sciences.
The company is in clinical trials with five clinics, including the Breast Center and the Highlands Oncology Clinic, both in Northwest Arkansas. Ascendant Diagnostics could receive up to an additional $100,000 in funding.
The authority is a state organization created to develop, expand and retain high-paying, knowledge-based industries.
- John Magsam
OSHA fines Pilgrim’s
$170,000 on safety
The Occupational Safety and Health Administration has imposed penalties of $170,000 for 11 safety violations, nine of which were considered serious, at the Pilgrim’s Pride Corp. poultry plant in De Queen.
The agency issued a $70,000 fine for failing to document that the emergency shutdown system for the engine room was designed to ensure that the mechanical ventilation system was activated in the event of an ammonia leak. OSHA termed it a willful violation.
A $61,500 fine was imposed for nine serious violations. Those concerned deficiencies in process safety management in regard to relief valves and failure to provide process hazard analysis, operating procedures, testing procedures and procedures for management of changes. A $38,500 fine was imposed for a repeat violation for failure to ensure the adequate frequency of self inspections of ammonia refrigeration equipment.
Cameron Bruett, a spokesman for Pilgrim’s parent company, JBS S.A., said the company is aware of the alleged violations.
- Steve Painter
Arkansas Index up
as 11 stocks gain
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 0.67 to 290.60 Thursday.
“U.S. stocks ended higher on Thursday rallying the last hour of the day after a report that the Fed is likely to reassure markets at next week’s meeting that they will not be quick to raise interest rates,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc.
in Little Rock. “The Arkansas Index moved higher as 11 stocks advanced and five declined.”
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 27 on 07/26/2013