Posts

Posted on

Clean Power Capital Corp. Added to the CSE Composite Index® and the CSE25™ Index as of December 18, 2020

VANCOUVER, British Columbia, Dec. 23, 2020 (GLOBE NEWSWIRE) — Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”) is pleased to announce that as of Friday, December 18, 2020 the Company has been added to two indices on the Canadian Securities Exchange (“CSE”); the CSE Composite Index® as well as the CSE25™ index.

The CSE Composite Index® provides approximately 75% coverage of all equities listed on the CSE, and consists primarily of firms in the Life Sciences sector. The CSE25™ index is a subset of the CSE Composite Index®, consisting of securities of the top 25 companies by market capitalization. Inclusive of MOVE and the 24 other companies comprising the index, the CSE25™ has a combined portfolio capitalization of approximately CAD $28.1 billion as of market pre-open on December 22, 2020.

The Company’s management is pleased to receive this public recognition of its achievements to date in the North American capital markets.

MOVE Chief Executive Officer Joel Dumaresq commented, “It is an honour for the Company to be added to any major index at such an early stage, let alone for it to rank in the top 25 of such an index by market capitalization. Some of North America’s most innovative companies are traded on the CSE, and we are proud to be among leading firms in life sciences, technology, and diversified industries who comprise the CSE Composite Index®.”

ABOUT CLEAN POWER CAPITAL CORP.

Clean Power is an investment company that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation, and to seek liquidity in our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.

ON BEHALF OF THE CLEAN POWER CAPITAL CORP. BOARD OF DIRECTORS

“Joel Dumaresq”

Joel Dumaresq
Chief Executive Officer
+1 (604) 687-2038
info@cleanpower.capital

Learn more about Clean Power by visiting our website at: https://cleanpower.capital/

THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.

Notice Regarding Forward-Looking Information:

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Clean Power. Some assumptions include, without limitation, the development of hydrogen-powered vehicles by vehicle makers, the adoption of hydrogen-powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.



Posted on

BioInvent receives $3 million payment related to selection of antibodies under collaboration with Pfizer Inc.

PR Newswire

LUND, Sweden, Dec. 23, 2020 /PRNewswire/ — BioInvent International AB (OMXS: BINV ), a biotech company focused on the discovery and development of novel and first-in-class immune-modulatory antibodies for cancer immunotherapy, today announced that Pfizer Inc. (“Pfizer”) (NYSE: PFE) has selected antibodies directed at a previously-selected target under the companies’ cancer immunotherapy research collaboration and license agreement.

The agreement, into which the companies entered in December 2016, covers developing antibodies from BioInvent’s proprietary F.I.R.S.TTM drug discovery platform targeting tumor-associated myeloid cells.

The selection of these antibodies triggers a payment from Pfizer to BioInvent of $3,000,000. BioInvent is eligible for further milestone payments from development of these antibodies and potential selection and development of further antibodies directed at the same target.                                                                                  

BioInvent’s CEO Martin Welschof said: “Pfizer’s selection of antibodies under our agreement is a great demonstration of the actionable leads generated by our drug discovery technology platform. We are very pleased with how our partnership is progressing and look forward to further strengthening our collaboration. Our F.I.R.S.TTM platform is a patient-centric approach, drawing on our high-quality n-CoDeR® antibody library to produce promising drug candidates, and we believe this partnership is an important validation of this technology.”

About BioInvent

BioInvent International AB (publ) (OMXS: BINV) is a clinical stage company that discovers and develops novel and first-in-class immuno-modulatory antibodies for cancer therapies, with four programs in clinical development. The Company’s validated, proprietary F.I.R.S.TTM technology platform simultaneously identifies both targets and the antibodies that bind to them, generating many promising new drug candidates to fuel the Company’s own clinical development pipeline or for additional licensing and partnering.

The Company generates revenues from research collaborations and license agreements with multiple top-tier pharmaceutical companies, as well as from producing antibodies for third parties in the Company’s fully integrated manufacturing unit. More information is available at www.bioinvent.com.

For further information, please contact:

Martin Welschof, CEO  

Mary-Ann Chang, LifeSci Advisors

+46 (0)46 286 85 50

+44 7483 284 853


martin.welschof@bioinvent.com      


mchang@lifesciadvisors.com

BioInvent International AB (publ)

Co. Reg. No. Org nr: 556537-7263
Visiting address: Sölvegatan 41
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
www.bioinvent.com

The press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release.

This information is information that BioInvent International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 5.30 a.m. CET, on 23 December, 2020.

This information was brought to you by Cision http://news.cision.com

The following files are available for download:

Cision View original content:http://www.prnewswire.com/news-releases/bioinvent-receives-3-million-payment-related-to-selection-of-antibodies-under-collaboration-with-pfizer-inc-301197924.html

SOURCE BioInvent

Posted on

Innovent Announces NMPA Granted New Indication Approvals for SULINNO® (Adalimumab Injection) for the Treatment of Pediatric Plaque Psoriasis and Non-infectious Uveitis

PR Newswire

SAN FRANCISCO and SUZHOU, China, Dec. 22, 2020 /PRNewswire/ — Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of cancer, metabolic, autoimmune and other major diseases, today announces that SULINNO® (adalimumab injection), a recombinant human anti-TNF-α monoclonal antibody drug, has been officially approved by the National Medical Products Administration (NMPA) of China for two new indications, including the treatment of pediatric plaque psoriasis and non-infectious intermediate uveitis, posterior uveitis and panuveitis in adults who do not respond adequately to corticosteroids, require restraint of corticosteroids, or are not suitable for corticosteroid therapies. These are the fifth and sixth approved indications of SULINNO® in China. SULINNO® was firstly approved by China NMPA on September 2, 2020. Previous approved indications of SULINNO® include rheumatoid arthritis, ankylosing spondylitis, psoriasis, and polyarticular juvenile idiopathic arthritis.

Since the launch of adalimumab, it has been approved worldwide for the treatment of seventeen diseases, including rheumatoid arthritis, ankylosing spondylitis, psoriasis, psoriasis arthritis, juvenile idiopathic arthritis, Crohn’s disease (including pediatric Crohn’s disease), ulcerative colitis, hidradenitis suppurativa, uveitis, etc. The efficacy and safety of adalimumab has been well recognized globally, and adalimumab injection is widely used in the North America and Europe. It has been consistently recommended in multiple diagnostic and therapeutic guidelines for the treatment of these diseases, and its significant efficacy has been universally recognized. SULINNO® is adalimumab biosimilar developed by Innovent, and its clinical results were published in the Inaugural Issue of The Lancet Rheumatology in 2019. The launch of SULINNO® has provided more Chinese patients with high-quality and relatively affordable adalimumab injection, bringing hope and opportunities to more patients.

Dr. Qian Lei, Senior Director of Medical Sciences and Strategies of Special Diseases of Innovent, stated, “There remains huge unmet medical need for the treatment of psoriasis and uveitis in China. Psoriasis can bring tremendous pain and physiological burden that seriously affect patients’ quality of life and mental health. Psoriasis in children is a particular challenge. However, early diagnosis and adequate management will have the opportunity to avoid complications that may result from chronic inflammation in adulthood. Uveitis can cause severe eye discomfort and directly affect vision. Meanwhile, patients with uveitis are at high risk for ocular complications, including glaucoma, macular edema, and cataracts, and recurrent episodes may result in cumulative ocular damage, increasing the risk of visual impairment or blindness. Up to 35% of patients with uveitis may have impaired vision, imposing a heavy economic burden on patients and society. Early diagnosis and standardization of effective treatment are important to maintain visual acuity. We hope the approval of SULINNO® for new indications will provide psoriasis and uveitis patients with a high quality, effective and more affordable treatment option.”

About Psoriasis and Pediatric Plaque Psoriasis

Psoriasis is a chronic inflammatory skin disease affecting approximately 2% of the population worldwide. The skin disorder begins in childhood in about one-third of the cases. The prevalence of psoriasis in the population aged 0-19 is about 0.18% in China. Thus it is estimated that psoriasis affects about 600,000 children in China. The most common type of psoriasis in children is chronic plaque psoriasis (74%), followed by guttate psoriasis (14%), seborrheic dermatitis-like psoriasis (8%), and the least common is pustular psoriasis (1%). The treatment of plaque psoriasis in children is complex and difficult due to the lack of adequate clinical data, effective systemic therapy, and standardized treatment guidelines. Psoriasis not only brings serious psychosocial burden to children, but also may increase the risk of complications such as hypertension and diabetes mellitus. Thus, timely and effective treatment is particularly important. Adalimumab injection was approved by FDA for the treatment of psoriasis (including pediatric plaque psoriasis), and is widely used in the North America and Europe for this disease. 

About Uveitis and Non-infectious Uveitis

Uveitis is a group of ocular diseases characterized by inflammation of the uveal tract and neighboring structures. Uveitis is mainly grouped into infectious uveitis and non-infectious uveitis, in which non-infectious uveitis accounts for about 20% to 40% of uveitis cases. The prevalence of uveitis in China is 152 / 100,000, of which the prevalence of non-infectious uveitis is 62.6-83.3/100,000. Thus it is estimated that there are about 800,000-1,150,000 patients with non-infectious uveitis in China. Non-infectious uveitis is an ocular immune disorder caused by an inappropriate inflammatory response of the immune system to antigens in the uveal tract and retina, some of which may be associated with systemic autoimmune diseases, but some may affect the eyes only. Since uveitis typically affects the working age group (20-60 years old), not only does it affect patients’ quality of life, but also has profound socioeconomic impact on the affected patients. Topical corticosteroid eye drops can be used for non-infectious anterior uveitis, but non-infectious intermediate, posterior, and panuveitis often requires long-term topical or even systemic corticosteroids or other immunomodulators. Some patients do not respond well to corticosteroid therapy, and the side effects of corticosteroids limit their long-term use. Adalimumab injection was approved by FDA on June 30, 2016 for the treatment of non-infectious intermediate, posterior and panuveitis. In 2018, international committee on uveitis issued a guideline on nonsteroidal systemic immunomodulatory treatment in uveitis, which made detailed recommendations on the use of TNF-α monoclonal antibody, represented by adalimumab, in non-infectious uveitis.

About SULINNO®

SULINNO® is an adalimumab (Humira®) biosimilar and a recombinant human anti-TNF-α monoclonal antibody independently developed by Innovent. TNF is a proinflammatory cytokine mainly produced by activated macrophages, natural killer cells and T lymphocytes, which is involved in inflammatory and immune responses. Anti-TNF-α antibody can bind to human TNF-α monomer or trimer, block TNF-α binding to the cellular surface receptor, p55 and p75, and neutralize the cytotoxic effect of TNF-α, thereby inhibiting the release of TNF-α mediated inflammatory factors and cytokines, the adhesion and infiltration of inflammatory cells, the proliferation of fibroblasts and the activation of osteoclasts.

The results of a complete pre-clinical comparison showed that SULINNO® has similar in vitro biological activity (binding activity to target antigen TNF-α and neutralizing activity), physicochemical property and pharmacokinetic characteristics to those of Humira®. The similarities were also demonstrated in pharmacological and toxicological studies. The head-to-head clinical study comparing SULINNO® and Humira® conducted in patients with ankylosing spondylitis demonstrated a clinical similarity. The study results were published at Inaugural Issue of The Lancet Rheumatology in 2019.

About Innovent

Inspired by the spirit of “Start with Integrity, Succeed through Action,” Innovent’s mission is to develop and commercialize high quality biopharmaceutical products that are affordable to ordinary people. Established in 2011, Innovent is committed to developing, manufacturing and commercializing high quality innovative medicines for the treatment of cancer, metabolic, autoimmune and other major diseases. On October 31, 2018, Innovent was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 01801.HK.

Since its inception, Innovent has developed a fully-integrated multi-functional platform which includes R&D, CMC (Chemistry, Manufacturing, and Controls), clinical development and commercialization capabilities. Leveraging the platform, the company has built a robust pipeline of 23 valuable assets in the fields of cancer, metabolic, autoimmune diseases and other major therapeutic areas, with 4 products, TYVYT® (sintilimab injection), BYVASDA® (bevacizumab biosimilar), SULINNO® (adalimumab biosomilar) and HALPRYZA® (rituximab biosimilar) on market, 4 assets in Phase III or pivotal clinical trials, and additional 15 molecules in clinical trials. TYVYT® (sintilimab injection) has been the only PD-1 inhibitor included in the NRDL since 2019.

Innovent has built an international team of advanced talents in high-end biological drug development and commercialization, including many overseas experts. The company has also entered into strategic collaborations with Eli Lilly, Adimab, Incyte, MD Anderson Cancer Center, Hanmi and other international partners. Innovent strives to work with all relevant parties to help advance China’s biopharmaceutical industry, improve drug availability to ordinary people and enhance the quality of the patients’ lives. For more information, please visit: www.innoventbio.com.

Cision View original content:http://www.prnewswire.com/news-releases/innovent-announces-nmpa-granted-new-indication-approvals-for-sulinno-adalimumab-injection-for-the-treatment-of-pediatric-plaque-psoriasis-and-non-infectious-uveitis-301197917.html

SOURCE Innovent Biologics

Posted on

XCMG Named as One of the World’s 500 Most Influential Brands, Shares Green Recovery Experience

PR Newswire

XUZHOU, China, Dec. 22, 2020 /PRNewswire/ — XCMG (000425.SZ), one of the world’s top construction machinery manufacturers, has been named one of “The World’s 500 Most Influential Brands” for the second time by The World Brand Lab and is the only Chinese construction machinery manufacturer to make it onto the 2020 list. The company also ranked in the top 100 of the 2020 China’s 500 Most Valuable Brands list.

“We are privileged to be recognized as an influential brand at a time when people judge a brand more by its sustainability and change-making ability,” said Yang Dongsheng, General Manager of XCMG Machinery. “The COVID-19 pandemic has brought more challenges for brands to convert such value to its fundamental strategy, and we hope to seize this opportunity to share our experience of a green recovery with our industrial partners and other brands around the world.”

XCMG is taking innovation and sustainability as its core development strategy and places the concept of sustainable development throughout every link of its product manufacturing.

The company is taking an “Advanced and Endurable” development path to develop green products, helping customers save energy and reduce emissions. Its introduction of LNG technology back in 2009 has led to a full coverage of green energy product lines from construction machineries to heavy trucks, such as its XE215HB hybrid excavator that can save energy at a rate of more than 25 percent.

The strategy has been proven by partners and customers. At the 2020 Global Top 50 Construction Machinery Summit, XCMG mobile cranes ranked first in the 2020 Top 10 Global Mobile Crane Manufacturers list. In addition, XCMG is investing more in intelligent and green manufacturing. The company has stopped using materials and processing techniques that may pollute the environment and endanger health. It has invested more than CNY250 million(US$ 38.1 million) in pollution treatment as well as energy and water source testing, including a 72-million yuan (US$10.9 million) investment in the green welding process.

XCMG has also invested 1.5 billion yuan(US$ 228.9 million) to establish a large-scale precision machining factory which utilizes a world-class green manufacturing system with zero emissions of solid pollutants.

For more information, please visit www.xcmg.com, or XCMG pages on Facebook, Twitter, YouTube, LinkedIn and Instagram.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/xcmg-named-as-one-of-the-worlds-500-most-influential-brands-shares-green-recovery-experience-301197916.html

SOURCE XCMG

Posted on

LG and Magna Enter Joint Venture Agreement to Expand in Powertrain Electrification Market

Combines Strengths of Two Major Players in the Electric Powertrain Space to Accelerate Time to Market and Capitalize on Electrification Emergence

SEOUL, Korea and AURORA, Ontario, Dec. 22, 2020 (GLOBE NEWSWIRE) — LG Electronics (“LG”) and Magna International Inc. (“Magna”) announced a joint venture (JV) to manufacture e-motors, inverters and on board chargers and, for certain automakers, related e-drive systems to support the growing global shift toward vehicle electrification. The new company, tentatively called LG Magna e-Powertrain, marries Magna’s strength in electric powertrain systems and world class automotive manufacturing with LG’s expertise in component development for e-motors and inverters, accelerating both partners’ growth in the electric powertrain market.

The JV enables the two companies to continue to grow their electric powertrain product offerings by leveraging existing technologies, engineering capabilities and global footprints. The market for e-motors, inverters and electric drive systems is expected to have significant growth between now and 2030, and the JV will target this fast-growing global market with a world-class portfolio.

LG has established experience in the development of electric vehicle components most notably for the Chevrolet Bolt EV and Jaguar I-PACE. LG will help accelerate Magna’s time to market and scale of manufacturing for electrification components, while software and systems integration are competencies that Magna brings to this venture. This JV will allow customers to select from a portfolio of reliable components through to integration of an entire electrified powertrain.

“This partnership fully aligns with our strategy of being at the forefront of electrification and supporting automakers with a diverse and world-class portfolio,” said Magna President and incoming CEO Swamy Kotagiri. “By combining our strengthens, we expect to gain investment efficiency and speed to market with synergies to achieve more, all while continuing to capitalize on the acceleration of the electrified powertrain market.”

“Manufacturers need to be disruptive to maintain leadership positions in electrification and, through this deal, LG is entering a new phase in its automotive components business, a growth opportunity with enormous potential,” said Dr. Kim Jin-yong, President of the LG Electronics Vehicle Component Solutions Company. “We believe that the combination of our in-house prowess and the experience and extensive history of Magna will transform the EV powertrain space faster than if we proceed alone.”

The JV will include more than 1,000 employees located at LG locations in the United States, South Korea and China.

The transaction is expected to close in July of 2021, subject to a number of conditions including obtaining LG shareholder approval and all necessary regulatory approvals.

TAGS: joint venture, electrification, electric vehicles, e-motors, e-drives

INVESTOR CONTACTS:

Louis Tonelli, Vice President, Magna Investor Relations
louis.tonelli@magna.com, +1.905.726.7035

Scott Sim, Head, LG Investor Relations
scott.sim@lge.com, +82.2.3777.3501

MEDIA CONTACTS:

Tracy Fuerst, Vice President, Magna Global Corporate Communications & PR
tracy.fuerst@magna.com, +1.248.761.7004

Ken Hong, Head, LG Global Corporate Communications
ken.hong@lge.com, +82.2.3777.3626

About LG Electronics, Inc.

LG Electronics is a global innovator in technology and consumer goods with a presence in almost every country in the world and a diverse workforce of 74,000. LG is composed of five companies – Home Appliance & Air Solution, Home Entertainment, Mobile Communications, Vehicle component Solutions and Business Solutions. With 2019 global sales of USD 53 billion, LG is a leading manufacturer of a wide range of products from TVs, washing machines, refrigerators, air conditioners, mobile devices, digital signage and automotive components. LG is also known for its premium LG SIGNATURE and advanced LG ThinQ brands, which feature the company’s artificial intelligence technology. For more news on LG, go to www.LGnewsroom.com.

About Magna

Magna is a mobility technology company with more than 157,000 entrepreneurial-minded employees and 344 manufacturing operations and 93 product development, engineering and sales centres in 27 countries. They have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. Magna also has electronic and software capabilities across many of these areas. Common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.magna.com.

FORWARD-LOOKING STATEMENTS

CERTAIN STATEMENTS IN THIS RELEASE CONSTITUTE “FORWARD-LOOKING INFORMATION” OR “FORWARD-LOOKING STATEMENTS” (COLLECTIVELY, “FORWARD-LOOKING STATEMENTS”) UNDER APPLICABLE SECURITIES LEGISLATION. WE USE WORDS SUCH AS “WILL”, “BELIEVE”, “EXPECT” AND SIMILAR EXPRESSIONS SUGGESTING FUTURE OUTCOMES OR EVENTS TO IDENTIFY FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS IN THIS PRESS RELEASE INCLUDE, BUT ARE NOT LIMITED TO, STATEMENTS RELATING TO: GROWTH IN THE MARKETS FOR INVERTERS, E-MOTORS AND ELECTRIC DRIVE SUB-SYSTEMS; OUR ABILITY TO CAPITALIZE ON, AND ACCELERATE GROWTH IN, THE ELECTRIC POWERTRAIN MARKET; AND ACCELERATION OF TIME TO MARKET AND SCALE OF MANUFACTURING OF ELECTRIFICATION COMPONENTS. THE FORWARD-LOOKING STATEMENTS IN THIS RELEASE ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT WWW.MAGNA.COM.    

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d326b027-2981-479e-b60d-ba001dd07ce0

Additional media can be downloaded here:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b35757be-42a2-4f2e-9371-aeb36b2bb72e
https://www.globenewswire.com/NewsRoom/AttachmentNg/fb0e53ad-ef15-4781-89c4-4b7251cb170f
https://www.globenewswire.com/NewsRoom/AttachmentNg/67f0baa9-eb05-4382-8735-6011f1361ca0



Posted on

Avaloq’s Acquisition by NEC Successfully Completed

Avaloq’s Acquisition by NEC Successfully Completed

ZURICH & TOKYO–(BUSINESS WIRE)–
Avaloq, a Swiss-based global leader in digital banking solutions and wealth management technology, and Japan-based NEC Corporation today announced the closing of NEC’s acquisition of Avaloq. Each being a market leader in their own field, the combination of their shared vision, technological strengths, and global presence, will accelerate both companies’ long-term growth, global expansion and value creation strategy.

This acquisition was first announced in October 2020, and following receipt of the relevant regulatory approvals, the acquisition was completed on December 22, 2020. NEC now holds 100% of Avaloq’s shares, including the 45% previously held by private equity firm Warburg Pincus, as well as the remaining shares held by Avaloq’s founder Francisco Fernandez and by employees.

Founded in 1985, Avaloq provides powerful cloud solutions for banks and wealth managers around the globe through business process as a service (BPaaS) and software as a service (SaaS) along with on-premise solutions. Avaloq’s vision for the future of wealth management is to maintain the human relationship an investor has with an advisor, to enhance the relationship through technology and to increase engagement and satisfaction. The democratization of wealth management will allow more people to have access to a greater quantity and quality of investment strategies and advice that was once reserved for ultra and high net worth individuals only.

With more than 120 years of expertise, NEC is a leader in the integration of IT and network technologies that benefit businesses and people around the world. Listed on the Tokyo stock exchange, NEC is a truly global organization with office locations in more than 50 countries.

Masakazu Yamashina, Executive Vice President of NEC and new chairman of Avaloq, said: “With its 35-year heritage and focus on innovation in digital banking solutions, core banking software and wealth management technology, Avaloq is uniquely qualified to launch NEC into the Digital Finance field, which together with Digital Government, is one of the pillars for building NEC’s global growth. Our joint value proposition will build on Avaloq’s reliable digital finance products and the trust it has established amongst its clients, coupled with NEC’s cutting-edge technologies, global business network and digital government domain knowledge.”

Jurg Hunziker, CEO of Avaloq, said: “Avaloq will be entering a new era together with NEC. This transaction has generated much interest and we truly believe that NEC is the best partner for our business. Our solutions will only evolve for the better when leveraging NEC’s proven expertise with technologies related to Digital Identity, Artificial Intelligence, Verification, Blockchain, Cybersecurity, and Biometrics. In addition, our innovation capabilities will be elevated with NEC’s strong commitment to Research & Development, evidenced by the resources it has placed towards this, including dedicated facilities in Heidelberg, Germany. I am very much looking forward to starting this new part of our exciting growth journey together with NEC.”

Joseph Jasper, j-jasper(at)nec.com

 

KEYWORDS: Asia Pacific Switzerland Europe Germany Japan

INDUSTRY KEYWORDS: Professional Services Technology Finance Software Banking Internet

MEDIA:

Logo
Logo
Posted on

Firstsource Solutions Acquires PatientMatters

Firstsource Solutions Acquires PatientMatters

Acquisition accentuates Firstsource’s Healthcare Provider portfolio and extends its national footprint in the US

MUMBAI, India & LOUISVILLE, Ky.–(BUSINESS WIRE)–
Firstsource Solutions Limited (NSE: FSL, BSE:532809), a global provider of Business Process Management (BPM) services and a RP-Sanjiv Goenka Group company, announced today that the firm has acquired PatientMatters, a healthcare Revenue Cycle Management (RCM) solutions provider. PatientMatters unifies disparate registration, bill estimation, and financial services with intelligent workflows and eligibility services, improving revenue realization for Hospitals. The acquisition complements Firstsource’s Provider Business on two dimensions: strengthening presence in large markets like Texas and New York and adding new capabilities of pre-authorization and patient bill estimation at the front-end of the RCM cycle.

Powered by its Digital First, Digital Now strategy, Firstsource helps the nation’s leading Healthcare Providers and Health Plans reimagine their operations with digitally enabled business process solutions. The acquisition integrates PatientMatters’ InteliPass with Firstsource’s proprietary patient engagement solutions MFocus℠ and MGagement℠, equipping Providers with a comprehensive platform-based solution that simplifies the end-to-end patient financial experience.

Dr. Sanjiv Goenka, Chairman, Firstsource Solutions and RP-Sanjiv Goenka Group said, “The Healthcare space in the US is ripe for digital disruption – a trend further accelerated by the pandemic. Firstsource already has a large presence in the US healthcare market, helping Providers and Health Plans streamline their operations with Intelligent Automation and emerging technologies for enhanced competitiveness. This strategic acquisition magnifies our strong patient-centric revenue management capabilities and creates adjacent areas for growth for us. We welcome the PatientMatters team to the Firstsource family and look forward to serving the combined client base.”

In tandem with the acquisition, Firstsource plans to consolidate its Healthcare Provider brands MedAssist and PatientMatters, under its enterprise umbrella. The move reflects the unified value proposition offered across all Firstsource solutions and services and reinforces the company’s brand as a global BPM leader.

Vipul Khanna, MD and Chief Executive Officer, FirstsourceSolutions commented, “The integrated brand strategy under the Firstsource name will create a seamless organization with unparalleled service capabilities and geographic reach. While we’ve built a strong reputation under the MedAssist brand over the past three decades, we believe that Firstsource’s distinct track record of successes worldwide will help us create a deeper impact in the marketplace. Both Firstsource and PatientMatters share a singular mission – to help healthcare organizations enhance the patient financial experience with innovative, digital-first solutions. PatientMatters’ portfolio of offerings further amplify our RCM solutions, empowering patients to take control of their finances and Providers to optimize their revenues.”

David Shelton, CEO of PatientMatters further added, “PatientMatters is excited to be part of the Firstsource brand. Firstsource is a market leader in healthcare RCM solutions with extensive reach and a global presence. We believe our strong eligibility services and intelligent financial management workflows will support Firstsource’s strategy of putting clients at the heart of its operations and accelerating success.”

A Century Equity Partners portfolio company, PatientMatters is headquartered in Orlando, Florida with operations across the US.

About Firstsource:

Firstsource Solutions Limited, a RP-Sanjiv Goenka Group company (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN), is a leading provider of transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology and other industries. The Company’s ‘Digital First, Digital Now’ approach helps organizations reinvent operations and reimagine business models, enabling them to deliver moments that matter and build competitive advantage. With an established presence in the US, the UK, India and the Philippines, Firstsource acts as a trusted growth partner for over 100 leading global brands, including several Fortune 500 and FTSE 100 companies. (www.firstsource.com)

Media Contact

Sarika Rath

Sarika.rath@firstsource.com

(+91 98863 78198)

Joseph Favata

Joseph.favata@firstsource.com

(716) 725-7462

Investors Contact

Ankur Maheshwari

Ankur.Maheshwari@firstsource.com

+91(80) 6633 6075

Diwakar Pingle

dpingle@christensenir.com

+91 (22) 4215 0210

KEYWORDS: Florida Kentucky United States India North America Asia Pacific

INDUSTRY KEYWORDS: Data Management Technology Professional Services Managed Care Other Health Health General Health Software Hospitals Insurance Finance

MEDIA:

Logo
Logo
Posted on

FCA Chief Human Resources Officer Linda Knoll to Retire

PR Newswire

AUBURN HILLS, Mich., Dec. 22, 2020 /PRNewswire/ — Fiat Chrysler Automobiles N.V. (“FCA” or “the Company”) (NYSE: FCAU / MTA: FCA) today announced that Linda Knoll, its Chief Human Resources Officer, has elected to retire after nearly three decades of dedicated service.

In a distinguished career, honed also in the predecessor companies of FCA and at CNH Industrial, Ms. Knoll has served in a number of wide-ranging senior leadership roles since first joining the Fiat Group in 1994.

Ms. Knoll is one of the longest-serving members of the Company’s Group Executive Council (GEC), which was formed in 2011 as the highest executive decision-making body within FCA, responsible for reviewing the operating performance of the business, making key strategic decisions and sharing best practices, including the development and deployment of key human resources.

FCA will continue to benefit from Ms. Knoll’s counsel and experience until the closing of the merger with Peugeot S.A. (Groupe PSA) and the creation of Stellantis, which is expected to take place by the end of the first quarter of 2021.

After her retirement from the Company Ms. Knoll will continue to share her valuable knowledge and expertise by serving as an Adviser to EXOR, FCA’s reference shareholder. She will also remain on the Board of Comau as it prepares to become a publicly-listed company.

“Linda has been pivotal in strengthening our global Human Resources operations and played a fundamental role in our success,” said Mike Manley, Chief Executive Officer of FCA. “On behalf of all FCA employees and the many colleagues with whom she has worked so closely, I want to express our warm thanks to Linda for her dedication, leadership and tireless service to our Company.”

London, 22 December 2020

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/fca-chief-human-resources-officer-linda-knoll-to-retire-301197913.html

SOURCE FCA

Posted on

FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of BSX, RTX and SPLK

CEDARHURST, N.Y., Dec. 22, 2020 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues this alert to shareholders of the following publicly traded companies.

Raytheon Technologies Corporation f/k/a Raytheon Company (RTX, RTN)

Class Period: February 10, 2016 and October 27, 2020
Lead Plaintiff Motion Deadline: December 29, 2020
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nyse-rtx/

Boston Scientific Corporation (BSX)

Class Period: April 24, 2019 and November 16, 2020
Lead Plaintiff Motion Deadline: February 2, 2021
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nyse-bsx/

Splunk Inc. (SPLK)

Class Period: October 21, 2020 and December 2, 2020
Lead Plaintiff Motion Deadline: February 2, 2021
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nasdaqgs-splk/

Shareholders who purchased shares in these companies during the dates listed are encouraged to contact us via the case links above, by calling toll-free at 1-833-835-1495 or by email (dk@kclasslaw.com).

If you wish to serve as lead plaintiff with the goal of overseeing the litigation to obtain a fair and just resolution, you must petition the Court on or before the deadlines provided above.

Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 344
Cedarhurst, NY 11516
Email: dk@kclasslaw.com
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967
https://kclasslaw.com



Posted on

GBS Inc. Announces Pricing of Initial Public Offering

Will Trade on the Nasdaq Global Market Under Ticker “GBS”

NEW YORK, Dec. 22, 2020 (GLOBE NEWSWIRE) — GBS Inc. (the “Company”) (Nasdaq: GBS), a life sciences company developing non-invasive, real-time diagnostic testing in the hands of patients and their primary health practitioners at point of care, today announced the pricing of its initial public offering of 1,270,589 units at a public offering price of $17.00 per unit. Each unit will immediately separate into (a) one share of the Company’s common stock (or, at the purchaser’s election, one share of Series B Convertible Preferred Stock), (b) one Series A warrant (the “Series A Warrants”) to purchase one share of the Company’s common stock at an exercise price equal to $8.50 per share exercisable until the 5th anniversary of the issuance date, and (c) one Series B warrant to purchase one share of the Company’s common stock at an exercise price equal to $17.00 per share exercisable until the 5th anniversary of the issuance date and subject to certain adjustment and cashless exercise provisions as described herein. The Series B warrants contain an exchange feature that will permit the holder to exchange the warrant into shares of common stock on a one-for-one basis any time commencing the earlier of 10 days from the IPO or the time when $10 million of volume is traded in the common stock, if the closing stock price of the common stock on the date of exercise is below the exercise price of the Series B warrant. In addition, GBS has granted the underwriters a 45-day option to purchase up to an additional 190,588 shares of common stock and/or Series A Warrants to purchase up to an aggregate of 190,588 shares of common stock and Series B Warrants to purchase up to an aggregate of 190,588 shares of common stock, in any combinations thereof, at the public offering price per security, less the underwriting discounts and commissions, to cover over-allotments, if any.

The gross offering proceeds to GBS from the sale of the securities are expected to be approximately $21.6 million, after deducting underwriting discounts and commissions and estimated offering expenses. The company intends to use the net proceeds from this offering for obtaining regulatory approvals, marketing and establishing a distribution network, in addition to working capital.

Dawson James Securities, Inc. is acting as the sole book-running manager in connection with the offering.

The shares of the Company’s common stock will separate from the unit and immediately begin trading on the Nasdaq Global Market on December 23, 2020 under the ticker symbol “GBS”. The Company does not intend to apply for any listing of either of the warrants or its Series B Convertible Preferred Stock on the Nasdaq Global Market or any other securities exchange or nationally recognized trading system, and it does not expect a market to develop for such securities. The closing of the offering is expected to take place on or about December 28, 2020, subject to the satisfaction or waiver of customary closing conditions.

The securities were offered pursuant to a registration statement on Form S-1, which was declared effective by the Securities and Exchange Commission (“SEC”) on December 22, 2020, and an additional registration statement filed pursuant to Rule 462(b), which became effective on December 22, 2020.

The offering is being made solely by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Dawson James Securities, Inc., Attention: Prospectus Department, 101 N. Federal Highway, Boca Raton, Florida 33432, by telephone at 1 (866) 928-0928 or by email at syndicate@dawsonjames.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About GBS, Inc.

GBS Inc. is a biosensor diagnostic technology company on a mission to put the power of non-invasive, real-time diagnostic testing in the hands of patients and their primary health practitioners at point of care. With the world-first Biosensor Platform, GBS Inc. intends to develop and launch point-of-care diagnostic tests urgently needed to help control COVID-19 and change the lives of people living with diabetes. 

Visit our website: gbs.inc

Forward Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, including the Company’s expectations regarding the proposed offering of the Company’s securities, including as to the consummation of the offering described above and the size of the offering are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, risk factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Jeremy Feffer
LifeSci Advisors, LLC
T: 212.915.2568
jeremy@lifesciadvisors.com