Market Newsdesk

IGC Commences Phase 1 of Cannabinoid Clinical Trial for Alzheimer’s Patients

POTOMAC, MD–(BUSINESS WIRE)–
India Globalization Capital, Inc. (“IGC” or the “Company”) (NYSE American: IGC) announced that it is enrolling participants suffering from mild to severe dementia due to Alzheimer’s disease for its Phase 1 clinical trial.

Our subsidiary, IGC Pharma, LLC, received approval from an Institutional Review Board (“IRB”) as previously disclosed, engaged a Principal Investigator and a study site, and began enrolling participants for a Phase 1 trial on its Investigational Drug Candidate (“IDC”), IGC-AD1.

Our Phase 1 study is a placebo-controlled study. IGC-AD1 will be administered for three 14-day periods, with the dose escalated in each of the periods. The participants will be monitored daily, certain data will be collected, and while collection of safety data is the primary objective, we will, for research purposes, collect data that extends beyond safety. For example, we expect to collect data on how fast IGC-AD1 is absorbed through the body (pharmacokinetics), how long it lasts in the body, and whether different individuals process it differently based on polymorphisms of the liver enzyme CYP450 2C9. In addition, we will monitor, through tests, certain behavioral aspects brought on by dementia to help us in anticipated future phases of the study.

As previously reported, on July 30, 2020, IGC received notice from the U.S. Food and Drug Administration (“FDA”) to proceed with a 12-subject Phase 1 human clinical trial (“removal of full clinical hold”) on its Investigational New Drug Application (“INDA”), IGC-AD1, submitted under Section 505(i) of the federal Food, Drug, and Cosmetic Act.

To receive investigational drug approval as a pharmaceutical drug, the Sponsor (IGC Pharma, LLC) must conduct several trials and gather data. These typically start with pre-clinical trials that involve testing the IDC on cells outside of a living organism (in vitro), followed by animal testing. This in vitro and animal data was previously disclosed. Based on promising evidence, we are pursuing human trials, for which the FDA must give permission. Following Pre-INDA meeting correspondence in late 2018, we submitted an INDA to the FDA in November 2019. This process included presenting the results of in vitro and animal studies, safety data, a protocol outlining how a potential trial will be run, how data will be collected, how participant data will be protected, how IGC-AD1 will be made, who will make it, what is in it, data on the stability of the formulation, and details on the Chemistry, Manufacturing, and Controls (CMC). We also agreed a) to obtain an Informed Consent Form (ICF) from participants that would be reviewed and approved by an IRB, and b) to follow all rules required for studying IDCs, including those surrounding COVID-19.

While we cannot guarantee the time frame, taking into account the upcoming holidays and current restrictions brought on by COVID-19, we expect to complete the phase 1 study during the first half of calendar 2021.

About IGC:

IGC operates two lines of business: (i) infrastructure and (ii) life sciences. The Company is based in Potomac, Maryland, U.S.A. social media: www.igcinc.uswww.igcpharma.com Twitter @IGCIR.

About Alzheimer’s Disease:

Alzheimer’s Disease (AD) is the most common cause of dementia. It is a progressive disorder that destroys memory and other important mental functions. AD currently affects more than 5.3 million Americans, about 44 million worldwide, and over 65% of AD patients are women. It is known as America’s most expensive disease, with an estimated cost to the U.S. economy of $236 billion. To date, no effective cure has been found.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based largely on IGC’s expectations and are subject to several risks and uncertainties, certain of which are beyond IGC’s control. For the next several years, our success is highly correlated primarily with the successful outcome of our clinical trials and the recovery of the world and regional economies following the COVID-19 pandemic and secondarily on the sale of our products and services candidates. IGC may not be able to complete human trials on our investigational drug candidates or, once conducted, the results of human trials testing results may not be favorable or as anticipated. IGC may not be able to complete human trials on the estimated and expected timelines for various reasons, including low enrollment of or inability to enroll qualified patients. Our projections and investments anticipate stable pricing, which may not hold out over the next several years, as well as certain regulatory changes, specifically in states and territories where medical cannabis has been legalized, and the diseases which we anticipate our products will target are, become, or remain approved conditions for treatment or usage with cannabis/cannabinoids. We may not be able to protect our intellectual property adequately or receive patents. We may not receive regulatory approval for our products, or trials. An additional risk factor worth highlighting is that the patent applications we have licensed may not be granted by the United States Patent and Trademark Office (“USPTO”), even if the Company is in full compliance with USPTO requirements. We may not have adequate resources, including financial resources, to successfully conduct all requisite clinical trials, to bring products to market, or to pay applicable maintenance fees over time. We may not be able to successfully commercialize our products, even if they are successful and receive regulatory approval. Failure or delay with respect to any of the factors above could have a material adverse effect on our business, future results of operations, our stock price, and our financial condition. Actual results could differ materially from these forward-looking statements as a result of, among other factors, competitive conditions in the industries in which IGC operates, failure to commercialize one or more of the technologies of IGC, general economic conditions that are less favorable than expected, the FDA’s general position regarding hemp-based products, the ongoing COVID-19 pandemic and its effect on global and regional economies in which IGC participates, and other factors, many of which are discussed in IGC’s SEC filings. IGC incorporates by reference the Risk Factors identified in its Annual Report on Form 10-K filed with the SEC on July 13, 2020, Quarterly Reports on Form 10-Q filed with the SEC on August 19, 2020 and November 20, 2020 as if fully set forth and restated herein. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this release will in fact occur.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005670/en/

Claudia Grimaldi

[email protected] / Phone: 301-983-0998

KEYWORDS: Maryland United States North America

INDUSTRY KEYWORDS: Pharmaceutical Alternative Medicine Health FDA Hispanic Mental Health Consumer Clinical Trials

MEDIA:

Posted on November 23, 2020 9:03 am

This Thanksgiving, Pluto TV and CBS Serve up a Slate of Iconic & Classic Television

This Thanksgiving, Pluto TV and CBS Serve up a Slate of Iconic & Classic Television

On November 24^th, Pluto TV Welcomes the Holidays with Nostalgia and Cheer With Launch of New Classic Channels – Happy Days, Laverne & Shirley, Family Ties, The Love Boat, TheBeverly Hillbillies, Wings, Mission: ImpossibleandMork & Mindy

LOS ANGELES–(BUSINESS WIRE)–
On November 24th, in time for the ultimate comfort food holiday weekend, Pluto TV is dishing up some of the most iconic, classic series in the history of television, free to stream, all day, every day. Pluto TV is the ultimate destination this holiday season where viewers can visit yesteryear with a best-in-class streaming lineup that includes Happy Days, Family Ties, The Love Boat, Wings, The Beverly Hillbillies, Mission: Impossible, Laverne & Shirley, and Mork & Mindy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201123005617/en/

Pluto TV and CBS Serve up a Slate of Iconic & Classic Television (Photo: Business Wire)

In a year that has been challenging for so many across the globe, Pluto TV is bringing the joy, love and laughter that is synonymous with these series from an unforgettable era and inviting viewers to escape with their favorite characters and stories that shaped a generation of television.

All of Pluto TV’s new channels that will be available to stream for free on November 24th include:

	Happy Days Ayyyy! Flashback to simpler (and funnier) times with the 24/7 channel that brings you three classic sitcoms created by the legendary Garry Marshall. Titles include: Happy Days (11 seasons), Laverne & Shirley (8 seasons), and Mork & Mindy (4 seasons).
	Wings Welcome to Nantucket and thank you for choosing Sandpiper Air. Watch Tim Daly, Steven Weber, Crystal Bernard, Thomas Haden Church, and Tony Shaloub in the hit sitcom from the creators of Cheers, 24 hours a day (8 seasons).
	Family Ties The Emmy-winning sitcom that defined the ‘80s and made Michael J. Fox a superstar is now streaming on Pluto TV all day, every day. Also starring Meredith Baxter, Michael Gross, Justine Bateman, and Tina Yothers (7 seasons).
	The Love Boat Come aboard, we’re expecting you. The crew of the S.S. Pacific Princess is here for you and their all-star passengers 24 hours a day on the one channel that brings you the iconic TV classic (9 seasons).
	Beverly Hillbillies Y’all come back now to the original fish-out-of-water sitcom, The Beverly Hillbillies! Watch Jed, Granny, Jethro, and Elly May in the classic comedy, now available any time of day on their own channel (9 seasons).
	Mission: Impossible Your mission, if you choose to accept it: watch a channel dedicated to the original ‘60s spy thriller series starring Peter Graves, Martin Landau, and Leonard Nimoy. And it won’t self-destruct in five seconds (7 seasons).

In the spirit of the season, building on the nostalgia and comfort of classic television, Pluto TV is making a donation to World Central Kitchen to support of their ongoing efforts to use the power of food to heal communities and strengthen economies during times of crisis and beyond.

Throughout the holiday season, to drive even greater awareness to this noteworthy cause and amplify the efforts for World Central Kitchen, Pluto TV’s social media will feature curated holiday recipes inspired these shows and favorite recipes from beloved stars of the series.

Pluto TV offers hundreds of channels and thousands of movies and television series on-demand to a domestic audience of over 28.4 million users. With nearly 100,000 hours of premium content available on the platform, Pluto TV is available across all major mobile, connected TV and web-based devices and has a global footprint spanning three continents across 23 countries.

About Pluto TV

Pluto TV, a ViacomCBS Company, is the leading free streaming television service, delivering hundreds of live and original channels and thousands of on-demand movies in partnership with major TV networks, movie studios, publishers, and digital media companies. Named by Fast Company as one of 2020’s Most Innovative Companies, Pluto TV has a global audience of over 36 million monthly active users, with over 28.4 million in the U.S. Pluto TV has an international footprint that spans across three continents and 25 countries throughout the US, Europe and Latin America. Pluto TV is available on all mobile, web and connected TV streaming devices where millions tune in each month to watch premium news, TV shows, movies, sports, lifestyle, and trending digital series. Headquartered in Los Angeles, Pluto TV has offices across the United States, Europe and Latin America.

VIAC-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005617/en/

Media Contacts:

Jodi Lederman | Pluto TV

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Internet Audio/Video Film & Motion Pictures TV and Radio Family Technology Consumer Entertainment

MEDIA:

Photo

Pluto TV and CBS Serve up a Slate of Iconic & Classic Television (Photo: Business Wire)

Photo

Pluto TV and CBS Serve up a Slate of Iconic & Classic Television (Photo: Business Wire)

GigCapital2 Has Entered Into Business Combination Agreements With UpHealth and Cloudbreak to Form Combined Company to List on the NYSE, Creating a Unified and Profitable Global Digital Health Company

• The combined company, to be named UpHealth, will be an integrated global platform serving four of the fastest growing digital health markets: Integrated Care Management, Global Telehealth, Digital Pharmacy, and Tech-enabled Behavioral Health.
• The combined company has significant contracted growth across its established U.S. and international footprint, providing exceptional visibility into accelerating topline growth and profitability.
• In 2021, UpHealth is expected to generate over $190M in revenue and $24M in EBITDA; 69% of the 2021 incremental revenue growth is already contracted.
• UpHealth will be positioned for predictable growth and profitability enabling substantial reinvestment opportunities.
• Pro forma enterprise value is approximately $1.35 billion.

 

PALO ALTO, Calif.–(BUSINESS WIRE)–
GigCapital2 (NYSE: GIX), a Technology, Media and Telecom (TMT) Private-to-Public Equity (PPE)™ corporation, today announced that it has entered into two separate definitive business combination agreements with each of UpHealth Holdings, Inc. (“UpHealth”), one of the largest national and international digital healthcare providers, and Cloudbreak Health, LLC, (“Cloudbreak”), a leading unified telemedicine and video medical interpretation solutions provider, respectively, to form a combined entity that will create one of the only profitable, publicly traded, comprehensive global digital healthcare companies. Upon the closing of the transaction, the combined company will be named UpHealth, Inc. and will continue to be listed on the NYSE under the new ticker symbol “UPH”.

Following the combination, UpHealth will be a leading global digital healthcare company serving an entire spectrum of healthcare needs and will be established in fast growing sectors of the digital health industry. With its combinations, UpHealth is positioned to reshape healthcare across the continuum of care by providing a single, integrated platform of best-in-class technologies and tech-enabled services essential to personalized, affordable, and effective care. UpHealth’s multifaceted and integrated platform provides health systems, payors, and patients with a frictionless digital front door that connects evidence-based care, workflows, and services. Upon closing the pending mergers and the combination with Cloudbreak, UpHealth will be organized across four capabilities at the intersection of population health management and telehealth: Integrated Care Management, Global Telehealth, Digital Pharmacy, and Tech-enabled Behavioral Health.

1. Integrated Care Management – Thrasys Inc. (“Thrasys”) has reinvested $100M of customer revenue to develop its innovative SyntraNet Integrated Care technology platform. The platform integrates and organizes information, provides advanced population-based analytics and predictive models, and automates workflows across health plans, health systems, government agencies, and community organizations. The platform plans to add at least 40 million lives to UpHealth in the next 3 years to support global initiatives to transform healthcare.

2. The Global Telehealth Platform will consist of a U.S. division and an international division that, together, are anticipated to grow revenues by an additional $47 million in 2021.

• The U.S. division of Global Telehealth following the combination, Cloudbreak, is a leading unified telemedicine platform performing more than 100,000 encounters per month on over 14,000 video endpoints at over 1,800 healthcare venues nationwide. The Cloudbreak Platform offers telepsychiatry, telestroke, tele-urology, and other specialties, all with integrated language services for Limited English Proficient and Deaf/Hard-of-Hearing patients. Cloudbreak’s innovative, secure platform removes both distance and language barriers to improve patient care, satisfaction, and outcomes. Cloudbreak provides more than one and a half million minutes of telemedicine consultation each month simplifying how providers care for patients, putting a full care continuum at their fingertips 24/7 and enabling local healthcare systems to build their integrated telemedicine strategy from their digital front-door to in-hospital care and beyond.

• The international division of Global Telehealth following the combination, Glocal Healthcare Systems Pvt. Ltd (“Glocal”), is a global provider of virtual consultations and local care spanning the care continuum. It has designed proven, affordable and accessible solutions for the delivery of healthcare services globally. The platform provides a full suite of primary and acute care services, including an app-based telemedicine suite, digital dispensaries, and hospital centers. The platform has signed several country-wide contracts with government ministries across India, Southeast Asia, and Africa.

3. Digital Pharmacy – MedQuest Pharmacy (“MedQuest”) is a leading full-service manufactured and compounded pharmacy licensed in all 50 states that pre-packages and ships medications direct to patients. The company also offers lab services and testing, nutraceuticals, nutritional supplements, education for medical practitioners, and training for organizations, associations, and groups. MedQuest serves an established network of 13,000 providers. The MedQuest platform is poised for strong growth via targeted product expansion and expansive eCommerce capabilities for the entire provider network. UpHealth and MedQuest have mutually executed a merger agreement, the closing of which is awaiting regulatory approval for the transfer of licenses expected by the end of 2020 or early 2021.

4. Tech-enabled Behavioral Health – TTC Healthcare, Inc. (“TTC Healthcare”) and Behavioral Health Services LLC (“BHS”) offer comprehensive services specializing in acute and chronic outpatient behavioral health, rehabilitation and substance abuse, both onsite and via telehealth. UpHealth’s Behavioral Health capabilities have dramatically expanded use of telehealth for medical and clinical services and are leveraging UpHealth’s platform to increase volumes across its services. UpHealth and TTC Healthcare have mutually executed a merger agreement, the closing of which is awaiting regulatory approval for the transfer of licenses expected prior to the end of 2020.

Following the consummation of the transactions, UpHealth will have agreements to deliver digital healthcare in more than 10 countries globally. These various companies are expected to generate approximately $115 million in revenue and over $13 million of EBITDA in 2020 and following the combination, UpHealth expects to generate over $190 million in revenue and $24 million in EBITDA in 2021.

“UpHealth is a global, digital health services and technology pioneer. It combines primary care with integrated care management and overlays pharmacy and behavioral telehealth services to provide a ‘one-stop shop’ platform to improve health outcomes, quality, costs, and patient experience. The business combination strengthens UpHealth to further penetrate the broad and fast-growing digital health and telehealth market.” – Chirinjeev Kathuria, MD – Co-Founder and Executive Chairman of UpHealth

“Combining with UpHealth and its complementary suite of solutions will further our ability to power healthcare’s digital transformation and resolve disparities on a massive scale. We are proud to be part of this mission together.” – Jamey Edwards – CEO & Co-Founder of Cloudbreak Health

“We are excited to partner with UpHealth and Cloudbreak through our Private-to-Public Equity (PPE)™ platform. The combined UpHealth has all the hallmarks we look for in a successful partnership, including a world-class executive team and an exceptional business model with scale, strong growth, and profitability margins in the digital healthcare industry. We are particularly excited about the opportunity to provide our Mentor-Investor™ discipline in partnership with an exceptional global leadership team, as well as participate in a high-tech integrated platform that comprises a variety of cutting edge disciplines, such as the Artificial Intelligence platform being developed by Global Telehealth in conjunction with the tech-enabled Behavioral Health divisions. We are confident UpHealth is at the inflection point and positioned for accelerated growth.” – Dr. Avi Katz – Founder and Executive Chairman of GigCapital2

“Recognizing the significant opportunity in the continued transformation of healthcare through the use of digital health, we identified UpHealth as the only company that truly connects multiple parts of the healthcare continuum through technology. We believe that UpHealth is reshaping the future of healthcare and disrupting massive markets and critical needs through its integrated global health platform.” – Dr. Raluca Dinu, Chief Executive Officer and President of GigCapital2

Leadership Team

Following the combinations, Dr. Chirinjeev Kathuria and Dr. Avi Katz will serve as co-chairmen of the board of directors of UpHealth, which will include an additional 7 members. The executive team will be led by Al Gatmaitan (co-Chief Executive Officer), Ramesh Balakrishnan (co-Chief Executive Officer), Syed Sabahat Azim, MD (Chief Executive Officer, International), Martin Beck (Chief Financial Officer), Jamey Edwards (Chief Operations Officer), Jeffery Bray (Chief of Legislative and Regulatory Affairs), Mariya Pylypiv (Chief Strategy Officer) and Azfar Malik (President Behavioral Health). Executive team bios are available at www.UpHealthInc.com.

Transaction Overview

The business combinations were unanimously approved by the boards of directors of all parties, valuing the combined company at a combined pro forma enterprise value of approximately $1.35 billion. The proposed business combinations are expected to be completed in Q1 2021, subject to, among other things, the approval by GigCapital2 stockholders, regulatory approvals, and the satisfaction or waiver of other customary closing conditions.

Additional information about the proposed transaction, including copies of the merger agreements and investor presentation, will be provided in a Current Report on Form 8-K to be filed by GigCapital2 today with the Securities and Exchange Commission and available at www.sec.gov.

Advisors

Needham & Company serves as exclusive financial advisor, Husch Blackwell LLP serves as legal counsel, and Plante Moran, PLLC serves as auditors to UpHealth. Sidley Austin LLP serves as legal counsel to Cloudbreak. Nomura Securities International, Inc. serves as Exclusive Financial and Capital Markets Advisor, DLA Piper LLP (US) serves as legal counsel, and BPM LLP serves as auditors to GigCapital2.

Investor Conference Call

UpHealth, Cloudbreak and GigCapital2 will host a joint investor conference call to discuss the business and the proposed transaction today, November 23, 2020, at 4:30 PM ET.

To listen to the conference call via telephone, dial 1-877-407-9039 and 1-201-689-8470 (international callers/U.S. toll). To listen to the webcast, please click here http://public.viavid.com/index.php?id=142506. A telephone replay will be available until Monday, November 30, 2020, by dialing 1-412-317-6671 (international/U.S. toll) and entering Replay Pin Number, 13713437.

About UpHealth Holdings, Inc

UpHealth is a global comprehensive digital health technology and tech-enabled services platform (the “Platform”) that empowers providers, health systems and payors globally to manage care for people with complex medical, behavioral and social needs, while dramatically improving access to primary care. UpHealth owns Thrasys and BHS and almost half of Glocal, with its acquisition of all or almost all of the remaining half pending Indian regulatory approval expected prior to the closing of the combination with GigCapital2. Following the combination, including with Cloudbreak, UpHealth will be comprised of four service lines that have been strategically selected to deliver patient and provider-centric digital health technologies across the continuum of care and provide a full complement of services for managing the most challenging chronic conditions. The Platform improves patient access to timely and personalized digital care by delivering a complete set of care management tools, remote monitoring applications, full-service ePharmacy delivery, behavioral health solutions, and tech-enabled primary care. UpHealth is building its services to provide a digital marketplace of healthcare services. Following the combination, UpHealth will have offices in Delray Beach, Salt Lake City, San Francisco, Los Angeles, Columbus, and Kolkata.

For more information, visit www.UpHealthInc.com.

About Cloudbreak Health

Cloudbreak Health (www.cloudbreak.us) revolutionized patient and provider communication with the introduction of video remote interpreting (VRI), establishing Cloudbreak as a pioneer in telehealth technology. Cloudbreak Health continues to innovate with Cloudbreak Telehealth Solutions, including telepsychiatry, telestroke, tele-quarantine, remote patient monitoring and other specialties. Committed to overcoming healthcare disparities and bringing language access to the point of care, Cloudbreak Health seamlessly integrates their language access solution, Martti, into a host of platforms, including Epic, Zoom, and Caregility. Performing more than 1.5 million minutes of telemedicine consultation each month on over 14,000 video endpoints at 1,800+ healthcare locations nationwide, Cloudbreak Telehealth simplifies how providers care for patients, putting a full care continuum at their fingertips 24/7. Follow Cloudbreak on Twitter @cloudbreakhlth or the hashtag #HumanizeHealthcare.

About GigCapital Global and GigCapital2, Inc.

GigCapital Global (“GigCapital”) is a Private-to-Public Equity (PPE)™ technology, media, and telecommunications (TMT) focused investment group led by an affiliated team of technology industry corporate executives and entrepreneurs, and TMT operational and strategic experts in the private and public markets, including substantial, success-proven M&A and IPO activities. The group deploys a unique Mentor-Investors™ methodology to partner with exceptional TMT companies, managed by dedicated and experienced entrepreneurs. The GigCapital Private-to-Public Equity (PPE) companies (also known as blank check companies or Special Purpose Acquisition Companies (SPACs)) offer financial, operational and executive mentoring to U.S. and overseas private, and non-U.S. public companies, in order to accelerate their path from inception and as a privately-held entity into the growth-stage as a publicly traded company in the U.S. The partnership of GigCapital with these companies continues through an organic and roll-up strategy growth post the transition to a public company. GigCapital was launched in 2017 with the vision of becoming the lead franchise in incepting and developing TMT Private-to-Public Equity (PPE) companies. For more information, visit www.gigcapitalglobal.com or https://www.gigcapital2.com/.

GigCapital2, Inc. (NYSE: GIX, GIX.U, GIX.RT, and GIX.WS), is one of GigCapital’s Private-to-Public Equity (PPE) companies.

“Private-to-Public Equity (PPE)” and “Mentor-Investor” are trademarks of GigFounders, LLC, an affiliate GigCapital and GigCapital2, and is used pursuant to agreement.

For more information, visit www.gigcapitalglobal.com

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our or our management team’s expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future, including possible business combinations, revenue growth and financial performance, product expansion and services. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs made by the management of GigCapital2, UpHealth Services and/or Cloudbreak in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effects on UpHealth Services, Cloudbreak and GigCapital2 as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting UpHealth, UpHealth Services, Cloudbreak or GigCapital2 will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including that the GigCapital2 stockholders will approve the transaction, regulatory approvals, the ability of the post-combination company to meet the NYSE listing standards, product and service acceptance, and that UpHealth, Inc. will have sufficient capital upon the approval of the transaction to operate as anticipated. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of GigCapital2’s filings with the SEC, and in GigCapital2’s current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to GigCapital2, UpHealth Services and/or Cloudbreak as of the date hereof, and GigCapital2, UpHealth Services and/or Cloudbreak assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Additional Information and Where to Find It

In connection with the proposed business combinations, GigCapital2 intends to file with the SEC a registration statement on Form S-4 containing a preliminary proxy statement and a preliminary prospectus of GigCapital2, and after the registration statement is declared effective, GigCapital2 will mail a definitive proxy statement/prospectus relating to the proposed business combinations to its stockholders. This press release does not contain all the information that should be considered concerning the proposed business combinations and is not intended to form the basis of any investment decision or any other decision in respect of the business combinations. Additional information about the proposed business combinations and related transactions will be described in GigCapital2’s Current Report on Form 8-K and combined proxy statement/prospectus relating to the proposed business combinations and the respective businesses of GigCapital2 and UpHealth Services and Cloudbreak, which GigCapital2 will file with the SEC. The proposed business combinations and related transactions will be submitted to stockholders of GigCapital2 for their consideration. GigCapital2’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with GigCapital2’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combinations and related transactions, because these materials will contain important information about UpHealth Services, Cloudbreak, GigCapital2 and the proposed business combinations and related transactions. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combinations will be mailed to stockholders of GigCapital2 as of a record date to be established for voting on the proposed business combinations and related transactions.

Stockholders may also obtain a copy of the preliminary or definitive proxy statement/prospectus, once available, as well as other documents filed with the SEC by GigCapital2, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Brad Weightman, Vice President and Chief Financial Officer, GigCapital2, Inc., 1731 Embarcadero Rd., Suite 200, Palo Alto, CA 94303, or by telephone at (650) 276-7040.

Participants in the Solicitation

UpHealth Services, Cloudbreak, GigCapital2 and their respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from GigCapital2’s stockholders in respect of the proposed business combinations and related transactions. Information regarding GigCapital2’s directors and executive officers is available in its Form 10-K filed with the SEC on March 30, 2020. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be contained in the preliminary and definitive proxy statements/prospectus related to the proposed business combinations and related transactions when it becomes available, and which can be obtained free of charge from the sources indicated above.

No Offer or Solicitation

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005682/en/

For GigCapital Investor / Media Relations:

Darrow Associates

Jim Fanucchi, (408) 404-5400

Jordan Darrow, (512) 551-9296

[email protected]

For UpHealth Investor / Media Relations:

ICR Strategic Communications & Advisory

Investors:

Constantine Davides

[email protected]

617-335-8899

Media:

Phil Denning

[email protected]

646-277-1258 PALO ALTO, Calif.

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Health Technology Practice Management Telecommunications Mobile/Wireless Software General Health

MEDIA:

Posted on November 23, 2020 9:03 am

Orange Business Services Forms Global Strategic Collaboration Agreement with Amazon Web Services to Accelerate Customers’ Innovation in the Cloud

Orange Business Services Forms Global Strategic Collaboration Agreement with Amazon Web Services to Accelerate Customers’ Innovation in the Cloud

• Orange Business Services to accelerate digital transformation and boost cloud-native approach for customers on AWS
• Orange Business Services will create a Dedicated Center of Excellence built on AWS

PARIS–(BUSINESS WIRE)–
Orange Business Services has announced a global strategic collaboration agreement with Amazon Web Services (AWS) to help enterprises accelerate their digital transformation and leverage the benefits of the cloud to adapt quicker to market changes and user needs.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201123005757/en/

Enterprises will now have access to a one-stop-shop for all their Orange and AWS requirements through their trusted point of contact. (Photo: Business Wire)

Orange and AWS will work together to deliver new solutions in the areas of modernization and migration, data analytics, innovation and security, resulting in new products and services to fast-track customers’ journeys to the cloud. As part of this agreement, a dedicated Cloud Center of Excellence will be built on AWS, coordinating joint development of an extensive training and certification program for more than 3,000 Orange Business Services cloud, cybersecurity, digital and data experts.

Enterprises will now have access to a one-stop-shop for all their Orange and AWS requirements through their trusted point of contact. Orange has deep strengths across consultancy, cybersecurity and connectivity through to cloud native applications. This removes multivendor complexity for Orange customers and allows them to speed up their digital transformation and explore future innovations that enhance cloud applications on AWS.

As part of its ongoing plan to reinvent its operator model, Orange has also invested heavily in cloud native skills and tools to allow customers to take full advantage of on-demand delivery, flexibility, and higher-level services, including resiliency and cost optimization.

Future proofing the cloud for digital transformation

Enterprise customers can rely on Orange to standardize, scale and optimize applications for their AWS environments to speed up innovation cycles, reduce risks and increase efficiency.

Christope Gervais, CTO of NowCP, a customer of Orange Business Services commented: “Thanks to Orange Business Services’ cloud expertise, it took NowCP less than three months to migrate its digital trading services to AWS. Our challenge is to develop and operate with limited staff and resources. Meanwhile, we strive to provide our members with the most innovating trading service: highly efficient trading in a secure environment, compliant with strict regulation. Working with Orange Business Services and AWS, NowCP can now focus even more on driving business value. Orange Business Services has a proven track record in implementing DevSecOps approach, and AWS is unparalleled in terms of cloud ecosystem. The result is outstanding; we have reduced our infrastructure costs by 30% while delivering faster new products and features releases.”

“We are delighted with the business opportunities this partnership will bring to us and to our customers. This collaboration with AWS extends our relationship, leveling up our capabilities to simplify and accelerate customers’ cloud transformations. Customers appreciate having a combination of our cloud excellence to address their specific needs as well as our global vision with local care,” said Stefan Kanis, Senior Vice President Cloud Business Unit, Orange Business Services.

“We are excited to support Orange Business Services as they enable customers globally and across industries to migrate and modernize their applications to AWS,” said Doug Yeum, Head of Global Partner Organization, Amazon Web Services, Inc. “Orange Business Services brings a unique set of capabilities across connectivity, design, migration, security and local delivery. Together, we offer a proven digital transformation roadmap to help customers leverage the breadth and depth of AWS services to quickly develop and deploy cloud native applications that are highly secure, resilient, and performant.

Orange has also become part of the AWS Channel Reseller Program, allowing it to resell AWS services to its customers as part of its value-added services and solutions.

About Orange Business Services

Orange Business Services is a network-native digital services company and the global enterprise division of the Orange Group. It connects, protects and innovates for enterprises around the world to support sustainable business growth. Leveraging its connectivity and system integration expertise throughout the digital value chain, Orange Business Services is well placed to support global businesses in areas such as software-defined networks, multi-cloud services, Data and AI, smart mobility services, and cybersecurity. It securely accompanies enterprises across every stage of the data lifecycle end-to-end, from collection, transport, storage and processing to analysis and sharing.

With companies thriving on innovation, Orange Business Services places its customers at the heart of an open collaborative ecosystem. This includes its 27,000 employees, the assets and expertise of the Orange Group, its technology and business partners, and a pool of finely selected start-ups. More than 3,000 multinational enterprises, as well as two million professionals, companies and local communities in France, put their trust in Orange Business Services.

For more information, visit www.orange-business.com or follow us on LinkedIn, Twitter and our blogs.

Orange is one of the world’s leading telecommunications operators with revenues of 42 billion euros in 2019 and 257 million customers worldwide at 30 September 2020. Orange is listed on the Euronext Paris (ORA) and on the New York Stock Exchange (ORAN). In December 2019, Orange presented its new “Engage 2025” strategic plan, guided by social and environmental accountability. While accelerating in growth areas, such as B-to-B services and placing data and AI at the heart of innovation, the entire Orange Group will be an attractive and responsible employer.

Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005757/en/

Press:

Mike Smith, Orange Business Services, [email protected], +33 6 08 80 13 61

KEYWORDS: France Europe

INDUSTRY KEYWORDS: Software Networks Online Retail Internet Professional Services Data Management Technology Retail Other Professional Services Other Technology Consulting Telecommunications

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Enterprises will now have access to a one-stop-shop for all their Orange and AWS requirements through their trusted point of contact. (Photo: Business Wire)

Etisalat Takes Major Leap Toward an Autonomous Network with Blue Planet

Transforms Transport Network with End-to-End Service Automation Deployment

DUBAI, United Arab Emirates & HANOVER, Md.–(BUSINESS WIRE)–
Etisalat, one of the leading telecommunications operators in emerging markets recognized by Ookla® Speedtest® as the world’s fastest mobile network provider, has deployed the first end-to-end multi-vendor DWDM Transport network orchestration in the Europe, Middle East and Africa (EMEA) region with software from Blue Planet, a division of Ciena (NYSE: CIEN), forging a path to create one of the world’s most adaptive and self-optimising networks. Blue Planet’s intelligent automation software supports in accelerating Etisalat’s digital transformation journey in line with UAE’s vision to create a more competitive digital economy.

Haitham Abdulrazzak, Chief Technology Officer, Etisalat, said: “Etisalat as a global leader in many technologies and innovations continuously aims to enhance its leadership, position, network efficiency and provide superior customer experience, and a ‘zero-touch network target’ is a tool to achieve this. Transport network is in the heart of all autonomous networks, and the deployment of Blue Planet solution is a major step in our strategy to create more agile on demand adaptive networks.”

The Blue Planet software has been designed to support Etisalat’s specific intelligent automation requirements and has been implemented in close collaboration with Etisalat.

By reducing manual operations and automating order-to-service processes, Blue Planet supports Etisalat to further reduce the time it takes to introduce new services by 70 to 90 percent. This efficiency is achieved via the Blue Planet Multi Domain Service Orchestration (MDSO) at the Transport DWDM Network level, which is integrated with Etisalat’s existing OSS inventory and automation systems to execute closed loop automation. Blue Planet also provides automated fiber diversity by integrating with a GIS system, while orchestrating service provisioning across the multi-vendor and multi-domain WDM network.

Additionally, the Blue Planet software will support Etisalat to dynamically tune and adjust Bandwidth on Demand (BoD), enabling its customers to quickly self-provision network resources whenever needed.

Rick Hamilton, Senior Vice President, Blue Planet, a division of Ciena, said: “Across the globe, operators are using automation to create networks that can handle the ever-changing expectations of their users and Etisalat is at the forefront of that movement. Our Blue Planet software will support this network transformation to accelerate service delivery.”

About Etisalat

Etisalat Group is one of the world’s leading telecom groups in emerging markets. With consolidated net revenues at AED 52.2 billion and consolidated net profit of AED 8.7 billion for 2019, its high credit ratings reflect the company’s strong balance sheet and proven long-term performance.

Headquartered in Abu Dhabi, Etisalat was established over four decades ago in the UAE as the country’s first telecommunications service provider. An international blue-chip organisation, Etisalat Group provides innovative solutions and services to 149 million subscribers in 16 countries across the Middle East, Asia and Africa.

Etisalat is the fastest mobile network globally by Ookla® Speedtest® in 2020 providing its subscribers the most superior experience. Etisalat is named “The Most Valuable Portfolio Brand” in the Middle East and North Africa (MENA) by Brand Finance, and has become the first group from the Middle East to break the USD 10 billion barrier in terms of wider portfolio value.

About Blue Planet

Blue Planet, a division of Ciena (NYSE: CIEN), provides market-leading intelligent automation software and specialized professional services to help customers modernize their IT and network operations. Driven by policy and AI-based insights, Blue Planet delivers the closed-loop automation tools needed to align IT and networking processes—critical to facilitating digital transformation. For updates on Blue Planet, visit www.blueplanet.com.

Note to Ciena Investors

You are encouraged to review the Investors section of our website, where we routinely post press releases, SEC filings, recent news, financial results, and other announcements. From time to time we exclusively post material information to this website along with other disclosure channels that we use. This press release contains certain forward-looking statements that are based on our current expectations, forecasts, information and assumptions. These statements involve inherent risks and uncertainties. Actual results or outcomes may differ materially from those stated or implied, because of risks and uncertainties, including those detailed in our most recent annual and quarterly reports filed with the SEC. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies and can be identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words. Ciena assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005850/en/

Press Contact:

Jamie Moody

Ciena Corporation

+1 (410) 694-5761

[email protected]

Investor Contact:

Gregg Lampf

Ciena Corporation

+1 (410) 694-5700

[email protected]

KEYWORDS: Maryland United States United Arab Emirates North America Middle East

INDUSTRY KEYWORDS: Technology Mobile/Wireless Telecommunications Software Networks Internet

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HSBC Bank Launches Single Global Account and Real-Time Payments Platform: HSBC Global Money Account

New offering puts the world of banking in customers’ pockets – ability to seamlessly hold, manage and send money across countries instantly 24/7 now available

NEW YORK–(BUSINESS WIRE)–HSBC Bank USA, N.A., (HSBC), part of the HSBC Group, today announced the launch of its newest real-time payments offering. HSBC’s Global Money Account allows its international customer base to hold, manage and send money across various currencies to 14 million HSBC customers in 20 countries worldwide through a single account 24/7. There are no fees associated with Global Money transfers, giving customers a faster and more cost-effective payment option.

“As the world’s leading international bank, it is our ambition to put banking in our customers’ pockets, and create a top-tier borderless banking experience that lets them manage their finances whenever and wherever they want,” said Matthias Dekan, Head of HSBC Global Money, HSBC Group. “Through the COVID-19 pandemic, we have seen usage of our Mobile Banking facilities increase by more than 150 percent. The HSBC Global Money Account further supports our customers in being able to manage their finances from the comfort and safety of their homes or when they’re on the go.”

During a time of uncertainty, customers need the assurance their funds will be transferred instantly and cost-effectively. The new platform allows users to send funds across any HSBC bank account around the clock in real time, receive preferential FX rates within the Global Money Account and have a seamless and convenient customer experience with day-to-day account tasks.

“The ambition for Global Money Account is to provide our customers with one global account for all of their financial needs so that if they move from one market to another, they don’t need to open a new account, they just take their existing account with them,” said Carolyn Criscitiello, Head of Digital Payments, Wealth and Personal Banking, HSBC USA. “This will allow them to pay bills in multiple markets, make cross border transfers and spend like a local wherever they are.”

The Global Money Account provides customers with the ability to hold eight different HSBC currencies online, with instant conversion to other currencies. Currencies available at launch include: United States Dollar (USD), Euro (EUR), Sterling (GBP), Canadian Dollar (CAD), Australian Dollar (AUD), New Zealand Dollar (NZD), Hong Kong Dollar (HKD) and Singapore Dollar (SGD).

Other benefits of the HSBC Global Money Account include:

• Easy sign-up via the existing banking app with no additional documentation or forms to be filled out for existing customers;
• Immediate access to the account;
• Fully mobile-based with all features accessible from a smartphone;
• Simple and easy-to-use customer interface on the app;
• A single account to manage finances in multiple currencies/geographies; and
• Instant, real-time transfers within HSBC.

The launch of HSBC Global Money Account follows HSBC’s earlier launch of domestic Real-Time Payments for its customers. In the future, more features and currencies will be added to the HSBC Global Money Account, such as allowing customers to sign up for an account in their home markets such as Singapore, the UAE, India and the Channel Islands.

Note to editors

HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through retail banking and wealth management, commercial banking, private banking, and global banking and markets segments. It operates bank branches in: California; Washington, D.C.; Florida; Maryland; New Jersey; New York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a Member of FDIC. Investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,956bn at 30 September 2020, HSBC is one of the world’s largest banking and financial services organisations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005903/en/

Media enquiries to:

Matt Klein +1 212 525-4644 [email protected]

Kathleen Bentley +1 212 525-0423 [email protected]

KEYWORDS: New York Europe United States United Kingdom North America

INDUSTRY KEYWORDS: Software Banking Mobile/Wireless Networks Internet Professional Services Data Management Technology Security Other Professional Services Finance Other Technology

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Posted on November 23, 2020 9:03 am

Comtech Awarded $175.1 Million Contract for Statewide Next Generation 9-1-1 Technologies and Services

Comtech Awarded $175.1 Million Contract for Statewide Next Generation 9-1-1 Technologies and Services

MELVILLE, N.Y.–(BUSINESS WIRE)–
November 23, 2020 —Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure and highly reliable location, public safety, navigation and communication technologies, announced that its Safety & Security Technologies group, which is part of Comtech’s Commercial Solutions segment, was awarded a statewide contract valued up to $175.1 million to design, deploy, and operate Next Generation 9-1-1 (“NG9-1-1”) services for the Commonwealth of Pennsylvania. The total contract value includes multi-year contract extension options. The Commonwealth initially funded the contract at $137.4 million, of which Comtech expects to record $111.6 million as a booking during its second quarter of fiscal 2021.

The competitively awarded contract is for implementation of Comtech’s NG9-1-1 services that will provide citizens with advanced communication capabilities when calling for emergency services, including police, fire and emergency medical services. Through use of Comtech’s Next Generation Core Services (“NGCS”), the Commonwealth of Pennsylvania will be able to offer a seamless, coordinated and efficient NG9-1-1 system to all the Commonwealth’s local 9-1-1 centers. “We are pleased to work with Comtech to continue to evolve emergency services in the Commonwealth of Pennsylvania,” said Randy Padfield, Director of the Pennsylvania Emergency Management Agency. “Our goal is to continue to provide the citizens of Pennsylvania the best possible 9-1-1 services.”

“We are honored that Comtech has been entrusted with this important work to enable statewide access to highly reliable advanced communication systems for emergency services for the citizens of the Commonwealth of Pennsylvania. With this award, we will bring our market-leading solutions and the highest performance and reliability standards to support Pennsylvanians with mission-critical emergency services,” said Fred Kornberg, Chairman of the Board of Directors and Chief Executive Officer of Comtech Telecommunications Corp.

Comtech Telecommunications Corp. designs, develops, produces, and markets innovative products, systems and services for advanced communications solutions. Comtech’s highly reliable technologies enable the successful handling of over five million 9-1-1 calls and texts each month. The Company sells products to a diverse customer base in the global commercial and government communications markets. For more information about Comtech’s 9-1-1 products and services, visit www.comtech911.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005882/en/

Media Contact:

Michael D. Porcelain

President and Chief Operating Officer

631-962-7000

[email protected]

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