In connection with its decision to seek Chapter 11 protection, NephroGenex has retained the investment banking firm of Cassel Salpeter & Co., LLC, to assist with the anticipated sale of its assets through a sale process under Section 363 of the Bankruptcy Code. To that end, NephroGenex anticipates that it will seek approval by the Court of appropriate bidding and sale procedures in the early weeks of its Chapter 11 case.

Bioheart, Inc. (OTCQB: BHRT), a biotechnology company focused on the discovery, development, and commercialization of autologous cell therapies, has entered into an investment banking agreement with Cassel Salpeter & Co. as its exclusive financial advisor in connection with investment banking matters.

James Cassel, chairman and co-founder of Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle-market and emerging growth companies in the U.S. and worldwide, today announced that the firm has been named a winner of the 7th Annual M&A Advisor Turnaround Awards.

Cassel Salpeter & Co., recently hired Philip Cassel to its professional staff. Philip will serve as an Associate and will focus on M&A and restructuring assignments.

Bluegreen Corporation (NYSE: BXG) (“Bluegreen” or “the Company”)today announced that it has entered into a definitive merger agreement with BFC Financial Corporation (“BFC”) (Pink Sheets: BFCF.PK) which provides for a merger that will, subject to the terms and conditions of the agreement, result in Bluegreen becoming a wholly-owned subsidiary of BFC.