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VOL. 130 | NO. 132 | Thursday, July 9, 2015

Daily Digest

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GTx Names New Medical Director

Dr. Diane C. Young is the new vice president, chief medical officer, of GTx Inc.

The Memphis-based biopharmaceutical company announced Young’s appointment Wednesday, July 8.

Young is an oncologist with 25 years of clinical development experience in the industry, most recently at Novartis, where she spent 12 years in global and regional leadership roles in oncology clinical development and medical affairs. She also spent a decade at Johnson and Johnson, serving as vice president of global development at R.W. Johnson Pharmaceutical Research Institute.

In her new role, Young will help oversee the clinical development of GTx’s product candidates, including its selective androgen receptor modulator, enobosarm.

Her appointment is effective July 13. She will report to CEO Marc Hanover.

– Bill Dries

Dogwood Trace Apartments Sell for $1.2 Million

The Dogwood Trace Apartments, located at 4635 Forest Oak Way in Parkway Village, have sold for $1.2 million.

Saddle Vineyards LP, a Tennessee limited partnership, purchased the complex July 1 from Dogwood Trace LLC, according to a special warranty deed filed July 2. Dogwood Trace LLC paid $3.4 million when it purchased the complex in February 2007.

The property sits on 9.5 acres between Knight and South Perkins roads just north of Winchester Road. The Shelby County Assessor of Property’s 2015 appraisal is $1.5 million.

A $2.5 million loan was filed with First National Bank of Eastern Arkansas at the time of sale. The five-year loan matures on July 1, 2020.

– Wendy Greenlaw, Chandler Reports

Lifeblood Receives Grant for New Bloodmobile

Lifeblood has been awarded a $250,000 grant through The Plough Foundation for the purchase of a new bloodmobile.

The organization, Memphis’ only local, nonprofit volunteer blood center, collected more than 42,000 units of blood in 2014, with 60 percent of collections coming through mobile blood drives.

“We are grateful that The Plough Foundation recognizes the critical importance of a safe and stable local blood supply,” said Jennifer Balink, vice president of donor relations for Lifeblood. “As a community, Memphis has more patients who need blood than local donors providing it on a regular basis, so reaching more donors in the Memphis area is critically important for treating trauma victims, premature babies, cancer, and sickle cell disease.”

Lifeblood, which annually supplies more than 100,000 units of blood and blood components to area hospitals for local patient transfusions, anticipates delivery of the new, custom-built bloodmobile in early 2016.

– Daily News staff

Council Approves Moratorium on Pinch Building Permits

Memphis City Council members approved a 120-day moratorium Tuesday, July 7, on new building permits in the Pinch District as they also approved a planned development Downtown.

The moratorium proposed by councilman Berlin Boyd allows the council to grant waivers on a case-by-case basis during the four-month period. During that time, the Memphis-Shelby County Office of Planning and Development will come up with suggested guidelines for future development of the district bordering The Pyramid.

Boyd proposed the moratorium after he said unnamed “stakeholders” in his council district appealed for some sort of better planning in the Pinch.

The concern came as several development proposals – including a gas station and an extended-stay hotel – surfaced after Bass Pro Shops at The Pyramid opened in late April. The moratorium would not apply to those projects and others already in the pipeline of seeking approval.

Boyd drew fire from council members Janis Fullilove and Wanda Halbert for not disclosing who those citizens are.

“Will you say who these people are that wanted the councilman to not be as transparent as we know we all should be?” Fullilove asked Boyd.

“I’m being transparent because I’m their representative,” Boyd replied. “If they want me to hold it as proprietary information, I will do so.”

Boyd said he and the constituents want to see “the highest and best use” of the property in the district.

The mixed-use planned development by Pinch Partners LLC is on the southeast corner of Jackson Avenue and North Main Street, within sight of Bass Pro Shops.

The parcel comprises several lots, including the Balinese Ballroom banquet hall, a duplex and Ferraro’s Pizzeria & Pub. The two surface parking lots also include a billboard that would be moved to a corner of one lot to make the redevelopment possible.

“If not for this planned development, nothing could happen on this property,” said Brenda Solomito-Basar, Pinch Partners’ representative.

– Bill Dries

Memphis Athletic Director Wants to Talk to Nichols About Transfer Request

Memphis athletic director Tom Bowen would “welcome the opportunity to speak with” forward Austin Nichols, who is seeking to transfer.

Nichols’ father, Mark Nichols, said Tuesday that Austin’s request for a transfer had been denied.

Bowen issued a statement Wednesday saying he hasn’t had the opportunity to talk with Austin Nichols about his transfer request.

Bowen said, “I believe this is an important step in determining the best courses of action for both the student-athlete and his future.”

Austin Nichols missed a mandatory team meeting on Monday and a workout on Tuesday.

Mark Nichols declined to say why his son is seeking a transfer.

Nichols averaged 13.3 points, 6.1 rebounds and 3.4 blocks in a sophomore season shortened by an ankle injury. He was a first-team American Athletic Conference selection. Nichols, a Briarcrest High School graduate, chose Memphis over Duke University – among others – in part because he wanted to play close to home.

Earlier this offseason, Tigers forward Nick King transferred to Alabama and guard Pookie Powell transferred to La Salle.

– Don Wade & The Associated Press

Back-to-School Fair Planned in Whitehaven Saturday

The Academy for Youth Empowerment, along with business leaders and community organizations, are sponsoring the 15th annual Back to School Health Fair and Family Festival on Saturday, July 11.

The annual health fair is a public event where medical professionals offer various free services for both children and adults, including immunization shots, preschool physicals, dental screening, eye exams, blood pressure checks and HIV testing, among others.

Event sponsors also will conduct a school supply giveaway for area students. The family festival will provide fun activities for children, live entertainment, and free food and refreshments.

The event will take place from 10 a.m. to 2 p.m. at Hillcrest High School, 4184 Graceland Drive.

Individual sponsors and sponsoring organizations include: The Academy for Youth Empowerment; councilman Harold Collins; Walgreens; Shelby County Health Department; Memphis Police Department; Methodist South Hospital, Baptist Hospital; Regional One Health; FedEx; State Farm Insurance; and the YWCA of Greater Memphis; among others.

– Don Wade

PROPERTY SALES 34 34 3,905
MORTGAGES 47 47 4,437
BUILDING PERMITS 190 190 9,458
BANKRUPTCIES 60 60 2,945