Category: Business

The Campaign Celebrates the Power of Reading and Finding Solace in Books Throughout 2020

EAST RUTHERFORD, N.J.–(BUSINESS WIRE)–Hudson Ltd. (NYSE: HUD) (“Hudson” or “Company”), a North American travel experience leader with more than 1,000 stores in airports, commuter hubs, landmarks and tourist destinations, today announced its “Celebrate Books and Booksellers” campaign, honoring powerful reads that sparked joy, fostered learning and inspired readers across North America throughout the year.

The year 2020 will long be remembered as unprecedented – from the global health crisis to the significant economic turmoil and record unemployment levels to the social justice movements. While challenging in so many ways, the past year also inspired many to pursue new and welcome conversations, engage in different forms of entertainment and even learn something new. Books were an essential element of this interaction and a welcome bright spot of 2020, providing both a world to escape into and a way to connect with the world.

“While challenging in so many ways, 2020 is a year that has made me feel especially grateful for the comforts and joys of life – the big ones like health and friendship, and the smaller ones like a park to walk in, or reading a book,” said Sara Hinckley, Senior Vice President of Books at Hudson. “Books both entertain and educate, and bring people together, even if socially distanced, by helping us see different perspectives and share the experience of loving the same books.”

Throughout the year, Hudson and its bookselling community worked hard to curate imaginative and eclectic book assortments that put fun, timely and relevant titles in the hands of readers, whether physically or virtually, and were perfect for avid bookworms and new book enthusiasts alike. “This year, I asked some of our best friends in bookselling, from all across Hudson, to Publishers, to Independent Booksellers, and more, to share the books both new and old that gave them a reason to celebrate or just provided a little comfort this year,” said Hinckley. “We received a wonderfully diverse selection of responses, from some amazing people, all of whom are fighting the good fight to keep bringing books to Hudson’s larger community of travelers through independent and alternative channels.”

The list, spanning a variety of categories and boasting an assortment of accolades, can be found in Hudson bookstores and convenience stores across North America, as well as at: www.Hudsonbooksellers.com/Celebrate.

Some of the recommended books include:

Non-Fiction

Humankind: A Hopeful History by Rutger Bregman

“Philosophers and economists often start with the premise that humans are bad or primarily driven by self-interest… If he [Bregman] is correct and how we think about our fellow humans has a direct effect on how we act, can you imagine the impact it would have if we all changed our assumptions and thought more kindly of each other?”

– Justin Hennequant, Director, Books, Hudson

Untamed by Glennon Doyle

“When you’re feeling trapped by COVID, this is a fantastic book to get you out of your slump and get you moving to a happier, healthier, more free and genuine life.”

– Pam Brown, Senior National Account Manager, Penguin Random House

How to Be an Antiracist by Ibram X. Kendi

“A central premise of the book, that you are either racist or antiracist, is put forward in a way that pushes the reader to revisit how we deal with race in our daily business, and to come back better prepared after a good deal of soul-searching.”

– Jordi Martin-Consuegra, Executive Vice President & Chief Administrative Officer; Deputy CEO, Hudson

Breath: The New Science of a Lost Art by James Nestor

“So much science is now affirming ancient wisdom from non-Western cultures on the health effects of breathing in certain ways. This book will help make your last breaths of 2020 more intentional, setting you up for a 2021 of hope and peace.”

– Pete Mulvihill, Co-Owner, Green Apple Books, San Francisco, CA

Wow, No Thank you – Hudson Exclusive by Samantha Irby

“Samantha Irby’s third book is another comedic triumph. Her quest to find friends after moving to Wisconsin is especially hilarious. It’s one of the books that has made me laugh despite all of the rough news of 2020.”

– Leonard Foote, Business Partner Manager, Barbara’s Bookstores at O’Hare, Hudson

Fiction

Homeland Elegies by Ayad Akhtar

“Homeland Elegies deftly combines elements of memoir with fiction to shine a bright light on the immigrant experience in America.”

– Adrian Newell, Book Buyer, Warwick’s, La Jolla, CA

Luster by Raven Leilani

“With unflinching honesty, and a sharp, devastating understanding of human nature, Raven Leilani has written a dark, funny, poignant story about relationships, desire, family, and social issues. There are many moments of delights and surprises in the writing and in the storytelling as well as brilliant observations about life.”

– Spenser Lee, Senior Vice President, Director of Sales, Farrar, Straus & Giroux

The Friend by Sigrid Nunez

“The book that affected me the most during this pandemic year. For most of this short book, we think we are following a woman as she copes with her grief over the death of a man she once loved. Her adoption of his enormous Great Dane is a metaphor for this grief… until we learn that perhaps this grief is hers alone. It’s a deeply wise novel, with a lot to teach us about loss and recovery from loss.”

– Bob Miller, President & Publisher, Flatiron Books

Transcendent Kingdom by Yaa Gyasi

“The book is so precise, so deeply felt, I kept stopping to underline sentences until I realized I was underlining the entire book. Brilliant.”

– Ann Patchett, Co-Owner, Parnassus Books, Nashville, TN, International Bestselling Author

Migrations by Charlotte McConaghy

“The magic of reading fiction is that it makes us look at and think about the world in new ways and takes us to places we’ve never been. This year, I’ve needed that feeling more than ever, and Migrations is the book that brought it to me.”

– Megan Lynch, Senior Vice President & Publisher, Flatiron Books

To see the entire list of recommended books in Celebrate Books and Booksellers, or to purchase a book, please visit: www.Hudsonbooksellers.com/Celebrate

About Hudson

Hudson, a Dufry Company, is a travel experience company turning the world of travel into a world of opportunity by being the Traveler’s Best Friend in more than 1,000 stores in airport, commuter hub, landmark, and tourist locations. Our team members care for travelers as friends at our travel convenience, specialty retail, duty free and food and beverage destinations. At the intersection of travel and retail, we partner with landlords and vendors, and take innovative, commercial approaches to deliver exceptional value. To learn more about how we can make your location a travel destination, please visit us at hudsongroup.com.

Contacts

Investor/Media Contact
Cindi Buckwalter

VP of Investor Relations & Corporate Communications

investorrelations@hudsongroup.com
communications@hudsongroup.com

Combined company renamed PARTS iD, Inc. and will trade on the NYSE American under “ID”

NEW YORK & CRANBURY, N.J.–(BUSINESS WIRE)–Legacy Acquisition Corp. (NYSE: “LGC”) (“Legacy”), a publicly-traded special purpose acquisition company, and Onyx Enterprises Int’l Corp. (“Onyx”) the owner and operator of, among other verticals, “CARiD.com,” a leading digital commerce platform for the automotive aftermarket, announced today that they have completed their previously announced business combination. In conjunction with this transaction, the combined company has been renamed PARTS iD, Inc. (“PARTS iD”). Beginning on November 23, 2020, PARTS iD’s Class A common stock will trade on the NYSE American under the symbol “ID.”

“We are extremely excited to begin this next chapter as a public company,” said Antonino Ciappina, Chief Executive Officer of PARTS iD. “With CARiD.com, we have built a true disruptor in the $400+ billion automotive aftermarket industry through our technology-led, data-driven approach to digital commerce. Our unique model featuring proprietary fitment data, unmatched breadth of offerings and enhanced fulfillment capabilities provides consumers with a rewarding and accurate discovery experience in a traditionally complex market. We believe the business is ideally positioned to capitalize on the surge in eCommerce adoption and this transaction helps strengthen our foundation for growth within our core automotive categories as well as other complex, multidimensional parts and accessories markets.”

Edwin Rigaud, Director of PARTS iD and Chairman & Chief Executive Officer of Legacy, “We believe PARTS iD presents a compelling opportunity for investors and is poised for success in the public markets. With over a decade developing its differentiated technology, product data, and strong consumer engagement, PARTS iD is truly a unique company with key competitive advantages and a compelling financial profile. The business’s low fixed cost structure and inventory efficient operating model is highly scalable, which we believe creates a long runway for profitable growth.”

Prashant Pathak, Chairman of PARTS iD, added, “I want to thank the teams on both sides of this transaction for their hard work in completing this business combination. We are excited to move forward as one organization and leverage the combined experience and leadership to drive profitable growth in the core business and continued investments in the digital transformation of the automotive and adjacent markets for industrial parts. Furthermore, PARTS iD while becoming a public company will maintain its long term approach to the business as it relates to strategy, capital management, and technology development decisions and is also committed to building on the progress Legacy’s founders have made towards inclusive capitalism, diversity of leadership on Wall Street and minority-led enterprise creation.”

Wells Fargo Securities, LLC served as financial advisor to Legacy and Canaccord Genuity LLC served as exclusive financial advisor to Onyx. Wells Fargo Securities, LLC, Cantor Fitzgerald & Co., and Stifel, Nicolaus & Company served as capital markets advisors to Legacy. DLA Piper LLP (US) and Graydon Head & Ritchey LLP served as legal advisors to Legacy. Faegre Drinker Biddle & Reath LLP served as legal counsel for Onyx.

About PARTS iD, Inc.

PARTS iD is a technology-driven, digital commerce company focused on creating custom infrastructure and unique user experiences within niche markets. Founded in 2008 with a vision of creating a one-stop eCommerce destination for the automotive parts and accessories market, PARTS iD has since become a market leader and proven brand-builder, fueled by its commitment to delivering a revolutionary shopping experience; comprehensive, accurate and varied product offerings; and continued digital commerce innovation.

Forward-Looking Statements

Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other such matters, including without limitation, the anticipated ability to capitalize on eCommerce demand or the potential for long term profitable growth, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict,” “potential,” “look forward” and similar expressions and their variants, as they relate to PARTS iD may identify forward-looking statements. PARTS iD cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time, often quickly and in unanticipated ways.

Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including without limitation, ability to obtain adequate financing to advance product development and company growth, the marketplace for online purchases of aftermarket auto parts, ability to maintain and enforce intellectual property rights, supply chain disruptions, unanticipated demands on cash resources, competition risks including the entry of new competitors and products, adverse federal, state and local government regulation, technological obsolescence of the PARTS iD’s products, price increases for supplies, the effects of current and future U.S. and foreign trade policy and tariff actions, and any disruption to its business caused by the current COVID-19 pandemic. Further information on the factors and risks that could cause actual results to differ from any forward-looking statements are contained in PARTS iD’s filings with the United States Securities and Exchange Commission (SEC), which are available at https://www.sec.gov (or at https://www.partsid.com). The forward-looking statements represent the estimates of PARTS iD as of the date hereof only, and PARTS iD specifically disclaims any duty or obligation to update forward-looking statements.

Contacts

Investors:

Dawn Francfort / Brendon Frey

ICR

ir@partsidinc.com

EAST BRUNSWICK, N.J. & BANGALORE, India–(BUSINESS WIRE)–#DJSI–Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has been selected as a member of the global Dow Jones Sustainability World Index (DJSI) – 2020 for the eleventh year in succession.

This year, 3429 companies were assessed from around the world, of which 323 made it to the final DJSI (World) index for 2020-2021. The IT Services sector saw 86 companies participating globally of which ten have been selected in the World Index. Wipro is also part of DJSI (Emerging Markets).

Launched in 1999, the S&P DJSI (World) is the leading global standard for corporate sustainability and represents the top 10% of an industry sector based on performance on a comprehensive range of Economic, Environmental, Social, and Governance (ESG) parameters. Inclusion in DJSI (World) index is based on a rigorous analysis of a company’s sustainability performance on nearly 1000 data points spread across 100 questions and three dimensions- Economic, Environmental, and Social.

Commenting on the achievement, Thierry Delaporte, CEO and Managing Director, Wipro Limited, said, “It is an honor to be named to the Dow Jones Sustainability World Index in recognition of our comprehensive sustainability approach. At Wipro, sustainability is more than just programs. It is infused throughout our company culture in how we make decisions and run our business. The DJSI recognition underscores our commitment to having a positive social and environmental impact.”

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 180,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Contacts

Purnima Burman

Wipro Limited

purnima.burman@wipro.com

NEW YORK & MORRISTOWN, N.J.–(BUSINESS WIRE)–Accenture (NYSE: ACN) has helped the U.S. subsidiary of Swedish pharmaceutical company Orexo launch its first digital therapeutic, vorvida®, for patients in the United States dealing with problematic alcohol use. vorvida® is a web-based digital platform that uses the INTIENT™ Patient solution suite, which is powered by Google Cloud, to enable secure patient interactions and connectivity to an ecosystem of third-party health care services.

A critical aspect to providing this population with a new treatment option was creating a digital solution that could immediately connect patients with health care services and scale to support the portfolio of Orexo’s future digital therapies, such as the ones for depression and opioid abuse.

“We are delighted to work with Accenture to make our digital therapies even more accessible to those who need them,” said Dennis Urbaniak, executive vice president, Digital Therapeutics, Orexo. “We know that many of our patients are concerned with confidentiality and privacy, and the INTIENT™ Platform provides a safe, secure platform through which individuals struggling with mental or behavioral issues can confidently get the care they need – right at their fingertips.”

Digital therapeutics are clinically validated patient treatments that provide access to novel care models and deliver health outcomes using a combination of digital inputs, artificial intelligence algorithms, and interventions to impact patients’ healthy behaviors. Orexo’s digital therapeutics are designed to learn from interactions and personalize the delivery of content to fit the unique needs of the individual. In addition to vorvida®, Orexo also offers deprexis® for the treatment of depression and anxiety, and modia™ for the treatment of opioid use disorder, which is expected to be available in the U.S. by the end of the year.

“Orexo is a great example of how INTIENT™ is supporting the future of the life science industry, driven by a focus on New Science, by providing a secure digital solution for patient data and connectivity to the market of digital health innovations and services,” said Tony Romito, managing director, Global Patient Service, Accenture.

The INTIENT Patient solution suite is part of Accenture’s INTIENT™ platform, which supports the life science industry by providing cloud-based solutions for industry needs across R&D and Commercial.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

The Life Sciences industry group helps pharmaceutical, biotech, medical technology, distributor and consumer health companies combine the latest technology with scientific breakthroughs to revolutionize how medical treatments are discovered, developed and delivered to patients around the world. To learn more, visit https://www.accenture.com/us-en/industries/life-sciences-index.

About Orexo DTx

Orexo DTx is the digital health arm of Orexo AB, a pharmaceutical company that develops and commercializes improved pharmaceuticals and digital therapies. The company addresses unmet needs mainly within the growing space of substance use disorders and mental health. Orexo DTx was created in Q4 of 2019 and the product portfolio consists of three digital therapies, deprexis® for depression, vorvida® for alcohol misuse and modia™ for opioid use disorder, all in partnership with the GAIA group.

Orexo DTx’s mission is to redefine treatment of addiction by offering clinically validated digital therapeutics to ensure more successful treatment for patients and cost-effective solutions for payers. The digital products will be commercialized by Orexo DTx worldwide, with the U.S. as the principal market, where Orexo also commercializes its lead product ZUBSOLV® (buprenorphine and naloxone) sublingual tablets (CIII) for treatment of opioid use disorder.

Orexo is listed on the Nasdaq Stockholm Mid Cap (ORX) and is available as ADRs on OTCQX (ORXOY) in the U.S. The company is headquartered in Uppsala, Sweden, where research and development activities are performed.

For more information about Orexo please visit, www.orexo.com. You can also follow Orexo on Twitter, @orexoabpubl, LinkedIn and YouTube.

Contacts

Lara Wozniak

Accenture

+1 858 252 8208

lara.wozniak@accenture.com

• • The U.S. 150-day delinquency rate reached its highest level since at least January 1999
• Forbearance provisions have helped foreclosure rates maintain historic lows

IRVINE, Calif.–(BUSINESS WIRE)–#Foreclosure–CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for August 2020. On a national level, 6.6% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure). This represents a 2.9-percentage point increase in the overall delinquency rate compared to August 2019, when it was 3.7%.

To gain an accurate view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency, including the share that transitions from current to 30 days past due. In August 2020, the U.S. delinquency and transition rates, and their year-over-year changes, were as follows:

• Early-Stage Delinquencies (30 to 59 days past due): 1.6%, down from 1.8% in August 2019, and down from 4.2% in April when early-stage delinquencies spiked.
• Adverse Delinquency (60 to 89 days past due): 0.8%, up from 0.6% in August 2019, but down from 1% in July and from 2.8% in May.
• Serious Delinquency (90 days or more past due, including loans in foreclosure): 4.3%, up from 1.3% in August 2019. This is the highest serious delinquency rate since February 2014.
• Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.3%, down from 0.4% in August 2019. The August 2020 foreclosure rate is the lowest since at least January 1999.
• Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.9%, up from 0.8% in August 2019. The transition rate has slowed since April 2020, when it peaked at 3.4%.

Foreclosure rates remain low, in part due to forbearance programs and other government provisions. However, August 2020 marked a spike in 150-day past-due loans, reaching a historic high of 1.2%, likely due to large volumes of delinquencies moving in tandem through the pipeline. Homeowners nearing the end of the first 180-day grace period (afforded to borrowers with federally backed mortgages) can request an extension of an additional 180 days, which is keeping foreclosure rates low while serious delinquency continues to climb. However, back-mortgage payments continue to add up for those unable to exit forbearance periods early. Looming unpaid mortgage payments, paired with sharp declines in income for many families, point to a potential wave of home sales triggered by financial distress in 2021 as forbearance periods end.

“Forbearance programs continue to reduce the flow of homes into foreclosure and distressed sales and has been the key to helping many families who have been particularly hard hit by the pandemic,” said Frank Martell, president and CEO of CoreLogic. “Even though foreclosure rates are at a historic low, the spike in 150-day past-due loans points to bumpy waters ahead.”

“Five months into the pandemic, the 150-day delinquency rate for August spiked to 1.2%,” said Dr. Frank Nothaft, chief economist at CoreLogic. “This was the highest rate in more than 21 years and double the January 2010 peak during the home-price bust. The spike in delinquency was all the more stunning given the generational low of 0.08% in March and April.”

In August, every state logged an annual increase in overall delinquency rates. Popular tourism destinations again showed the highest increases, with Nevada (up 5.3 percentage points), Hawaii (up 4.9 percentage points), New Jersey (up 4.6 percentage points), Florida (up 4.5 percentage points) and New York (up 4.4 percentage points) topping the list for gains.

Similarly, nearly all U.S. metro areas logged an increase in overall delinquency rates in August. Odessa, Texas — which has been hard hit by job loss in the oil and gas industry — again experienced the largest annual increase of 10.1 percentage points. Other metro areas with significant serious delinquency increases included Midland, Texas (up 7.9 percentage points); Kahului, Hawaii (up 7.6 percentage points) and Miami (up 7.0 percentage points). Dubuque, Iowa, was the only metro area to experience an annual decline in overall delinquency rate at -1.5%.

The next CoreLogic Loan Performance Insights Report will be released on December 8, 2020, featuring data for September 2020. For ongoing housing trends and data, visit the CoreLogic Insights Blog: www.corelogic.com/insights.

Methodology

The data in The CoreLogic LPI report represents foreclosure and delinquency activity reported through August 2020. The data in this report accounts for only first liens against a property and does not include secondary liens. The delinquency, transition and foreclosure rates are measured only against homes that have an outstanding mortgage. Homes without mortgage liens are not subject to foreclosure and are, therefore, excluded from the analysis. CoreLogic has approximately 75% coverage of U.S. foreclosure data.

Source: CoreLogic

The data provided is for use only by the primary recipient or the primary recipient’s publication or broadcast. This data may not be re-sold, republished or licensed to any other source, including publications and sources owned by the primary recipient’s parent company without prior written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data is illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website. For questions, analysis or interpretation of the data, contact Valerie Sheets at newsmedia@corelogic.com. Data provided may not be modified without the prior written permission of CoreLogic. Do not use the data in any unlawful manner. This data is compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.

About CoreLogic

CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.

CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.

Contacts

Valerie Sheets

CoreLogic

newsmedia@corelogic.com

SHANGHAI & PRINCETON, N.J.–(BUSINESS WIRE)–LianBio, a biotechnology company focused on bringing paradigm-shifting medicines to patients in China and major Asian markets, today announced that it has received clearance from the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA) to conduct the Phase 3 PROOF trial of infigratinib, a potential first-line treatment for patients with locally advanced or metastatic unresectable cholangiocarcinoma with FGFR2 gene fusions. LianBio has in-licensed infigratinib from BridgeBio Pharma, Inc. and is responsible for the registration application, clinical development and future commercial operations of the product candidate in Mainland China, Hong Kong and Macau.

Infigratinib is an investigational innovative, oral, selective and potent inhibitor of fibroblast growth factor receptor (FGFR) 1-3 with well-defined novel chemical structures and pharmacological effects, currently under Phase 3 global development by BridgeBio. In a separate clinical trial investigating infigratinib for patients with FGFR2-fusion positive cholangiocarcinoma who had progressed on gemcitabine-based therapy, infigratinib demonstrated an overall response rate of 27% ^[1]. The Phase 3 PROOF trial is a multicenter, randomized and controlled study designed to evaluate the pharmacokinetic profile, efficacy, and safety of infigratinib in patients with locally advanced or metastatic unresectable cholangiocarcinoma with FGFR2 gene fusions.

“This clearance by the China NMPA highlights the efficiency of LianBio’s operational model to bring cutting-edge technology to China,” said Dr. Bing Li, Chief Executive Officer of LianBio. “Untreated cholangiocarcinoma is usually fatal, with only 50% of patients surviving for one year. Given the severity of the disease and increasing prevalence in China, there is a high urgency to bring innovative treatments to this patient population. Supported by our partner BridgeBio, LianBio is well-positioned to advance the clinical development of this product candidate.”

Reference

1. Javle M. et al. A phase II study of infigratinib (BGJ398), an FGFR-selective tyrosine kinase inhibitor (TKI), in patients with previously-treated advanced cholangiocarcinoma containing FGFR2 fusions; ESMO 2018 Annual Meeting. Poster #LBA28.

About LianBio

LianBio’s mission is to catalyze the development and accelerate availability of paradigm-shifting medicines to patients in China and major Asian markets through partnerships that provide access to the best science-driven therapeutic discoveries. LianBio collaborates with world-class partners across a diverse array of therapeutic and geographic areas to build out a pipeline based on disease relevance and the ability to impact patients with transformative mechanisms and precision-based therapeutics. For more information, please visit lianbio.com.

Contacts

Investor:
Thomas Hoffmann

Solebury Trout

646-378-2931

thoffmann@soleburytrout.com

Media:
Hannah Gendel

Solebury Trout

646-378-2943

hgendel@soleburytrout.com