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PGIM Investments launches growth, value and multi-asset ETFs

Time-tested, actively managed strategies now available as ETFs


NEWARK, N.J. — (BUSINESS WIRE) — PGIM Investments has launched three actively managed ETFs — the PGIM Jennison Focused Growth ETF (PJFG), the PGIM Jennison Focused Value ETF (PJFV) and the PGIM Portfolio Ballast ETF (PBL).

 

With these launches, PGIM Investments expands its lineup of active ETFs to eight funds. The new funds complement PGIM Investments’ existing suite of actively managed fixed income ETFs.

 

“PGIM continues to expand access to our time-tested investment strategies by bringing them to market in the ETF wrapper. These new funds offer compelling investment strategies, combined with the benefits of the ETF structure, including increased transparency and greater tax-efficiency,” said Stuart Parker, president and CEO of PGIM Investments.

 

FULLY TRANSPARENT GROWTH AND VALUE ETFS

The PGIM Jennison funds are fully transparent ETFs with concentrated, high-conviction portfolios. Jennison’s equity investment approach is rooted in deep, fundamental research and bottom-up security selection. Both funds’ investment strategies are substantially similar to those of their respective mutual fund and institutional strategy counterparts.

 

The PGIM Jennison Focused Growth ETF (PJFG) seeks to provide long-term growth of capital by investing in a focused portfolio of primarily mid- and large-capitalization stocks believed to have strong capital appreciation potential. The Fund’s investment team believes that excess returns can be generated by investing in market-leading companies that create economic value through unique business models, long-duration competitive advantages and catalysts that drive growth rates well above that of the market.

 

The PGIM Jennison Focused Value ETF (PJFV) seeks to provide long-term growth of capital by investing in a focused portfolio of predominantly large-capitalization companies believed to be undervalued compared to their perceived worth. The Fund’s investment team looks for companies that have one or more of the following characteristics: attractive valuation metrics that are unique to that business, high levels of durability and viability of the business, good business models that are being mispriced, high returns on assets and/or equity, high free cash flow yields, management teams that are willing to make changes, and/or something operationally wrong that can be fixed or is temporary.

 

A MULTI-ASSET ETF TO HELP NAVIGATE MARKET VOLATILITY

The PGIM Portfolio Ballast ETF (PBL), seeks to provide long-term capital growth with reduced volatility compared to the equity market. PBL’s long-term goal is to capture 60% of the performance of the S&P 500 on average in appreciating equity markets, and to capture 30% of the performance of the S&P 500 on average in declining equity markets over a market cycle.

 

Like ballast on a ship providing critical stability amid rough waters, the PGIM Portfolio Ballast ETF offers what may be an attractive and uniquely diversifying solution in the face of uncertain and turbulent markets.

 

PBL’s underlying strategy is substantially similar to the U.S. Market Participation Strategy (MPS) — an institutional strategy with a live 30-year track record and more than $1 billion of client capital as of Oct. 31, 2022. Both MPS and PBL are managed by PGIM Quantitative Solutions, the quantitative and multi-asset specialist of PGIM.

 

ABOUT PGIM INVESTMENTS

PGIM Investments LLC and its affiliates offer more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives and real estate.

 

ABOUT JENNISON ASSOCIATES LLC

Founded in 1969, Jennison Associates offers a range of equity and fixed income investment strategies. Its equity expertise spans styles, geographies, and market capitalizations. Its fixed income capability includes investment-grade active and structured strategies of various durations. Original fundamental research, specialized investment teams, strong client focus, and highly experienced investment professionals are among the firm’s competitive distinctions. As of Sept. 30, 2022, Jennison managed $164 billion in client assets. For more information, please visit jennison.com.

 

ABOUT PGIM QUANTITATIVE SOLUTIONS

PGIM Quantitative Solutions is the quantitative equity, systematic macro, and multi-asset specialist of PGIM. For more than 45 years, PGIM Quant Solutions has helped investors around the world solve their unique needs by leveraging the power of technology and data as well as advanced academic research. PGIM Quant Solutions manages portfolios across equities, multi-asset and liquid alternatives and also offers defined contribution solutions. As of Sept. 30, 2022, PGIM Quant Solutions managed $81 billion in client assets. For more information, please visit pgimquantitativesolutions.com.

 

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with more than $1.2 trillion in assets under management as of Sept. 30, 2022. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

 

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

 

Consider a fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and summary prospectus. Read them carefully before investing.

 

Investing in mutual funds and ETFs involves risks. Some funds have more risk than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost and it is possible to lose money.

 

Funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company and FINRA member firm. Jennison Associates is a registered investment advisor. PGIM Quantitative Solutions is a wholly owned subsidiary of PGIM. Both are Prudential Financial companies. © 2022 Prudential Financial, Inc. and its related entities. Jennison, PGIM Quantitative Solutions, PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

 

Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.

 

1065505-00001-00

Contacts

MEDIA
Kylie Scott

+1 973 902 2503

kylie.scott@pgim.com

Categories
Culture Healthcare Lifestyle Technology Travel & Leisure

Aetrex Albert 3DFit and Foot.com named CES 2023 Innovation Award Honoree

Aetrex will debut its Albert 3DFit foot scanning technology and Foot.com 3D Data Portal for retailers at Booth #54953

 

TEANECK, N.J. — (BUSINESS WIRE) — Named a CES 2023 Innovation Award Honoree for the second year in a row, Aetrex Inc., a global market leader in foot scanning technology and orthotics will debut the honorable mention technology, the Albert 3DFit and Foot.com Data Portal, at this year’s show from Jan. 5-8 in Las Vegas.


The Albert 3DFit is Aetrex’s newest scanner. It uses four state-of-the-art Intel® RealSense™ 3D Depth Cameras to capture complete, accurate foot measurements in 10 seconds, including length, width, girth and more, all down to 1 millimeter of accuracy. The data is then converted into a 3D model of the foot, utilizing over 3.5 million data points. Once a scan is collected, Aetrex’s proprietary FitGenius™ AI platform analyzes the unique foot data to provide the best-fitting footwear recommendations by brand, style and size, helping customers find the perfect fit whether shopping in store or online.

 

The Foot.com Data Portal is a dedicated platform to help shoe manufacturers around the world create better fitting footwear. It collects and filters hundreds of thousands of unique, global, anonymous 3D foot scans from Aetrex’s Albert 3DFit and Albert 2 Pro. By arming footwear research and development teams with 3D data, the portal takes the guesswork out of footwear design, resulting in more anatomically-correct lasts. Through the website, users can easily filter and access the most accurate, complete 3D foot data broken down by gender, region, foot size and more.

 

“Online footwear sales have one of the highest return rates at 30-40%. Aetrex Technology provides retailers with a suite of solutions, including our advanced 3D foot scanners, AI footwear recommendations with our online FitGenius platform, and the new Foot.com Data Portal. With the breadth of these products, we can provide retailers and brands a variety of options to choose from to tackle today’s online fitting challenges,” said Larry Schwartz, CEO of Aetrex.

 

“Our mission is to become the world’s ultimate source for 3D foot data, helping retailers and brands around the world create better fit experiences for their customers.”

 

Aetrex is a technology-first company, operating the largest technology team in the industry with AI and computer vision engineers fully involved in product development. Since 2002, Aetrex has placed over 10-thousand-foot scanners worldwide that have completed more than 40 million unique foot scans. Aetrex partners include BOA, Burton, Marathon Sports, Sun & Ski Sports, The North Face, and more.

 

CES 2023 attendees can experience the Albert 3DFit at Aetrex’s booth and access their scan data via a QR code. Visitors who get their feet scanned will receive a 50% off coupon to purchase Aetrex Orthotics on aetrex.com. The Foot.com Data Portal will also be available for demonstration.

 

To learn more about Aetrex’s technology suite, please visit booth #54953 at CES 2023 or www.aetrex.com.

 

About Aetrex

Aetrex, Inc. is widely recognized as a global leader in foot scanning technology, orthotics and comfort and wellness footwear. Aetrex has developed state-of-the-art foot scanning devices, including Albert, Albert 2 Pro and Albert 3DFit (2022 and 2023 CES Innovation Award Honorees), Albert Pressure and iStep, designed to accurately measure feet and determine foot type and pressure points. Since 2002, Aetrex has placed over 10,000 scanners worldwide that have performed more than 40 million unique customer foot scans, currently averaging more than 2.5 million scans a year.

 

The company is renowned for its over-the-counter orthotics – the world’s #1 premium foot orthotic. With fashion, function and quality at the forefront, Aetrex also designs and manufactures stylish, performance footwear. Based in New Jersey, Aetrex is consistently named one of New Jersey’s Top 100 Privately Held Companies and was also included in NJBIZ’s Top 30 Manufacturing Companies. It has remained privately owned by the Schwartz family for three generations. For additional information, visit www.aetrex.com.

Contacts

Media
Rajira Hernandez

Matter Communications

978-225-8082

aetrex@matternow.com

Categories
Business Digital - AI & Apps Lifestyle Science Technology

KBP Brands tests new SMS and mobile wallet program at select KFC restaurants

OVERLAND PARK, Kan. — (BUSINESS WIRE) — KFC franchisee KBP Brands, one of the largest and fastest-growing QSR franchises in the country, today announced it has partnered with Vibes, the technology leader powering seamless mobile brand experiences, to test a SMS and mobile wallet program at 162 participating KBP-owned Kentucky Fried Chicken restaurants in Texas, New York (Buffalo), New Jersey, Oklahoma and Arkansas. This program enables the ability to meet consumers where they are most active: their mobile devices.

KBP Brands sought to equip local markets with innovative tools to win customers effectively and provide strong, trackable results. KBP Brands turned to Vibes to boost consumer engagement, increase in-store traffic and grow loyalty at its KFC restaurants through the delivery of timely, personalized messages.

 

KBP Brands can now instantly reach consumers through SMS and mobile wallet by sending targeted messages to local audiences based on price, demographic and regional competition. Restaurants can also offer unique promotions to customers, rewarding them for repeat visits or for opting into the SMS program. For example, those who opt-in to the KBP Brands text program from a mobile device receive an instant text alert offer and new offers weekly. To opt-in to the KBP Brands text program, simply text the word “DEALS” to “25899”. A complete list of participating locations can be found here.

 

“The text messaging program fills a gap in our local marketing toolkits, serving as an efficient mechanism to deliver relevant and timely offers to individuals. A broad value at a national level can be a challenge, especially by geographic area. We wanted the ability to activate compelling messaging quickly based on our restaurants’ unique needs,” said Tonya Mangels, vice president of marketing activation, KBP Brands. “The quick-service restaurant industry is highly competitive, and SMS marketing is a cost-effective tool that will help us both attract new customers and retain current customers.”

 

On average, brands see immediate rapid subscriber growth with a 98% retention rate and a 40x ROI with mobile messaging programs. KBP Brands will benefit from being able to deliver SMS messages at scale within a highly specific timeframe. With Vibes, KBP Brands can provide KFC customers real-time updates at the right place and right time, ranging from local store changes such as hours of operation to menu tests and limited-time-only deals, encouraging customers to visit and repeat business.

 

“We’re excited to help KBP Brands extend engagement with KFC customers in a personal, connected and authentic way,” said Alex Campbell, CIO and co-founder, Vibes. “Mobile offers one of the fastest ways to connect directly with a customer, and it will allow KBP Brands to meet individuals wherever they are in the consumer journey.”

 

ABOUT KBP BRANDS

KBP Brands is one of the largest franchisees in North America, operating ~1,000 restaurants across 31 states. Visit www.KBPbrands.com.

 

ABOUT VIBES

Vibes helps brands like Ralph Lauren, Kohl’s, Redbox, Chipotle, Sephora, Ascena Brands and LEGO to grow, activate and optimize consumer relationships with timely, relevant, high-volume mobile messaging at a global scale. The company’s intelligent mobile experience platform enables marketers and consumer loyalty professionals to connect with consumers using a unified native platform of SMS, MMS, dynamic wallet, mobile push notifications, app inbox and performance analytics, to become the backbone for these brands’ overall digital engagement strategies. Gartner recognized Vibes as a Leader in its 2019 and 2020 Gartner Magic Quadrant for Mobile Marketing Platforms.

Contacts

Will Gregory

Gregory Public Relations (for KBP)

will@willgregorypr.com
(816) 645-6116

Maya Halabi

Ketner Group Communications (for Vibes)

maya@ketnergroup.com

Categories
Business Lifestyle

Keystone Insurers Group announces New Jersey Agents Alliance (NJAA) to merge into independent agency network

NORTHUMBERLAND, Pa. — (BUSINESS WIRE) — #BetterTogether — Keystone Insurers Group (Keystone), the fourth largest insurance agency network, announced Monday that it has entered into definitive agreement to merge New Jersey Agents Alliance (NJAA) into its nationally ranked network.

 

While the terms of the transaction were not disclosed, Keystone has confirmed NJAA’s 22 members unanimously approved the agreement and Bob Mazey has accepted a position on Keystone’s Executive Leadership Team. Keystone President & CEO David E. Boedker, Sr. and NJAA Founder and President Bob Mazey made the announcement.

“The decision to make this move was designed to secure our members long-term position in the marketplace for generations to come,” Mazey remarked. “The culture of our two organizations could not be more aligned, with an unwavering commitment to the continued prosperity of the independent agent model. Keystone’s world class platform provides unique advantages that help agencies realize greater success while remaining independently owned and operated.”

 

As merger and acquisition activity continues to reshape the insurance distribution landscape, it is essential for agencies that wish to remain independently owned, align themselves with a nationally recognized organization that delivers much more than premium aggregation.

 

“The changes in our industry have made it more challenging for independent agencies to remain competitive and serve their communities,” added Boedker. “Keystone was founded by independent agents on the principle of strengthening their businesses together. That mission has not changed in our almost 40 years of business. This venture is a testament to the commitment and passion of both Keystone and NJAA. We’re excited to welcome Bob and the NJAA agencies to our network and look forward to demonstrating just how independence works better together.”

 

About Keystone Insurers Group (Keystone) — Keystone started in 1983 when four independent insurance agencies teamed up to pool their experience and expertise. This small group believed that agencies could be stronger and more successful if they linked arms — a passion and spirit that continues. Growing to almost 300 independent agency partners in 18 states, Keystone provides its agents with a community of like-minded agencies, industry expertise and access to specialized products for their clients. Keystone is ranked number four on Insurance Journal’s 2021 list of Top 20 Property/Casualty Agency Partnerships. For more information, go to www.keystoneinsgrp.com.

Contacts

Beth Bedisky

(570) 473-2828

bbedisky@keystoneinsgrp.com

Categories
Business Lifestyle Sports & Gaming

Rush Street Interactive expands Latin American presence as it opens two new state-of-art offices in Colombia

BOGOTA, Colombia — (BUSINESS WIRE) — Rush Street Interactive, Inc. (“RSI”) (NYSE: RSI), a leading online betting and gaming operator of the RushBet brand in Colombia and Mexico, has opened two new state-of-the-art offices in Bogota and Medellin to support RSI’s continued expansion of its Latin America presence and the growth of the RushBet brand.


In the heart of Bogota, RSI has opened a new 8,000-square-foot office to serve as the headquarters for its Latin America operations team. The office’s cutting-edge design embodies RSI’s culture of innovation and reflects the fun nature of the gaming industry: a full multimedia wall for watching live sports surrounds the office space; an actual basketball court functions as the marketing team’s space; conference rooms are designed like poker rooms; a production set simulates a stadium; lamps throughout the building resemble casino cards; and the cafeteria is a replica of RushBet’s sports bars.

 

In Medellin’s famed El Poblado neighborhood, RSI has expanded its technology hub to house a team of the area’s top tech talent to support RSI’s global technology platform. RSI chose Medellin due to its growing tech talent, which is supported by the local government’s substantial investment in its “Valle de Software” initiative to create a software valley by attracting IT businesses and training students from its best Latin American universities to become future professionals in IT fields. Moreover, the region has a solid business base with more than 163,000 companies in different economic sectors, which provides RSI with a vast network of partners and suppliers.

 

Opening these new offices is an important step for RSI as it continues to execute its development plans in Colombia, Mexico, and in the future throughout other markets in Latin America.

 

“We are investing in the region’s future and recognize the importance of earning the trust and respect of the communities where we operate,” said Richard Schwartz, Chief Executive Officer at RSI. “It’s important to have the brightest and strongest local teams to execute RSI’s ambitious growth strategy.” RSI was the first U.S.-based online operator to launch in Colombia and has grown to become one of its top three market leaders. Notably, Rush Street Interactive has partnered with many of the leading media companies, banks, retailers, and sports leagues with strong influences in the region, including recently expanding its exclusive partnership with LaLiga from only Colombia to now include all of South America.

 

“These new state-of-the art offices further exemplify our innovation and continued investment in Latin America and the future growth we expect in the region,” added Schwartz. “It was important for us to invest in creating world-class facilities to continue to attract and retain top industry talent, who play a vital role in RSI’s ongoing growth in Latin America.”

 

Link to video of RSI’s Bogota Headquarters: https://youtu.be/7WVdMgwIrOk

 

About Rush Street Interactive

RSI is a trusted online gaming and sports entertainment company focused on markets in the United States, Canada and Latin America. Through its brands, BetRivers, PlaySugarHouse and RushBet, RSI was an early entrant in many regulated jurisdictions. It currently offers real-money mobile and online operations in thirteen U.S. states: Pennsylvania, Illinois, New Jersey, New York, Connecticut, Michigan, Indiana, Virginia, Colorado, Iowa, West Virginia, Arizona and Louisiana, as well as in the regulated international markets of Ontario, Canada, Colombia and Mexico. RSI offers, through its proprietary online gaming platform, some of the most popular online casino games and sports betting options in the United States. Founded in 2012 in Chicago by gaming industry veterans, RSI was named the 2022 EGR North America Awards Operator of the Year, Customer Services Operator of the Year and Social Gaming Operator of the Year, and the 2021 SBC Latinoamérica Awards Sportsbook Operator of the Year. RSI was the first U.S.-based online casino and sports betting operator to receive RG Check iGaming Accreditation from the Responsible Gaming Council. For more information, visit www.rushstreetinteractive.com.

 

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. RSI’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, RSI’s expectations about its opening, use and purposes of its two Colombian offices, growth plans and opportunities and ability to attract employees. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside RSI’s control and are difficult to predict. Factors that may cause such differences include, without limitation, changes in applicable laws or regulations, unanticipated product or service delays, and other risks and uncertainties indicated from time to time in RSI’s most recent Annual Report on Form 10-K, including those under “Risk Factors” therein, and in RSI’s other filings with the SEC. RSI cautions that the foregoing list of factors is not exclusive. RSI cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. RSI does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Contacts

RSI Media:
Lisa Johnson

Lisa Johnson Communications

lisa@lisajohnsoncommunications.com

Categories
Business Lifestyle

AM Best assigns Credit Ratings to IdeaLife Insurance Company

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to IdeaLife Insurance Company (IdeaLife) (Stamford, CT). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect IdeaLife’s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect the level of support provided to the company by General Re Life Corporation (GRL).

 

IdeaLife has reinsured only one significant block of ordinary life new business over the past several years. The company’s initial activities were confined primarily to the reinsurance of ordinary term and graded premium whole life insurance of which a portion was ceded subsequently to GRL. While IdeaLife receives the financial support of its parent through reinsurance agreements, the company’s existing life, annuity and Medicare supplement books of business are in run-off. GRL continues to provide support to IdeaLife in order for the entity to be available for opportunities for new production or accept potential future blocks of life or health business if needed. Given internal plans for IdeaLife shared by company management with AM Best analysts, IdeaLife is considered a strategically important subsidiary of GRL and hence receives rating enhancement.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Kevin Varvaro
Financial Analyst
+1 908 439 2200, ext. 5487
kevin.varvaro@ambest.com

Anthony McSwieney
Senior Financial Analyst
+1 908 439 2200, ext. 5715
anthony.mcswieney@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business Culture Lifestyle Local News

Hughes: Support small businesses by buying local this holiday season

Mercer County Executive Brian M. Hughes encourages residents, who are preparing to make their shopping trips this holiday season, to consider the many small businesses in Mercer, some of which may be only a short distance away.

 

“The effect on our economic development community can be significant when we decide to buy local,” the County Executive said.

 

“Several studies have shown that when you buy from an independent, locally owned business, more of that dollar spent is reinvested into the community. That particular business is more likely to purchase goods or services from local or regional businesses, and thus stimulate more economic growth.”

 

For example, he said, studies have shown that for every $100 spent at a retail chain, there is a $43 return to the community. On the other hand, for every $100 spent at a local business, there is a return of $68 to the community.

 

“I would like to thank all of our local businesses and ‘buy local’ organizations that sponsor a sports team, support a local nonprofit or donate to a specific cause or program,” he said. “Their generosity uplifts communities and positively affects people’s lives.”

 

Besides these benefits, buying local generates more local job opportunities and creates environmentally friendly practices, the County Executive said.

 

“Whether it’s visiting a nearby retail store or buying a gift card at a local restaurant, let’s all remember our independently owned businesses this holiday season and the important impact that these businesses have on our daily lives,” he said.

Categories
Healthcare Lifestyle Science

Datopotamab Deruxtecan showed encouraging and durable efficacy in patients with heavily pretreated HR positive, HER2 low or negative metastatic breast cancer

  • First results for Daiichi Sankyo and AstraZeneca’s TROP2 directed ADC in this setting reported from TROPION-PanTumor01 phase 1 trial
  • Pivotal TROPION-Breast01 phase 3 trial is ongoing, evaluating datopotamab deruxtecan in these patients in earlier lines of treatment

 

TOKYO & MUNICH & BASKING RIDGE, N.J. — (BUSINESS WIRE) — Initial results from the TROPION-PanTumor01 phase 1 trial of datopotamab deruxtecan (Dato-DXd) showed encouraging and durable efficacy in patients with heavily pretreated hormone receptor (HR) positive, HER2 low (immunohistochemistry [IHC] 1+ or IHC 2+/in-situ hybridization [ISH]-) or HER2 negative (IHC 0) unresectable or metastatic breast cancer. Safety data were consistent with previous trials of datopotamab deruxtecan. Results were presented today as a Spotlight Poster Discussion (Abstract #PD13-08) at the 2022 San Antonio Breast Cancer Symposium (#SABCS22).

Datopotamab deruxtecan is a specifically engineered TROP2 directed DXd antibody drug conjugate (ADC) being jointly developed by Daiichi Sankyo (TSE: 4568) and AstraZeneca (LSE/STO/Nasdaq: AZN).

 

Approximately 70% of breast cancer tumors are considered HR positive and HER2 low or negative.1 For patients with HR positive, HER2 low or negative metastatic breast cancer that progress on or are not suitable candidates for endocrine therapy, the current standard of care is single-agent chemotherapy.2

 

In this cohort of TROPION-PanTumor01 (n=41) where patients previously received a median of five lines of treatment for metastatic disease, datopotamab deruxtecan demonstrated an objective response rate (ORR) of 27% as assessed by blinded independent central review (BICR). All responses were partial (n=11) and 56% of patients achieved stable disease (n=23). The disease control rate (DCR) was 85% and median progression-free survival (PFS) was 8.3 months (95% confidence interval [CI]: 5.5-11.1). With median follow-up of 13.7 months (range, 9-16), the median duration of response (DoR; 95% CI: 4.4-NE) and the median overall survival (OS) had not been reached with 59% of patients alive for more than one year.

 

“Patients with HR positive, HER2 low or negative metastatic breast cancer who are not eligible for endocrine therapy or have exhausted treatment options have a poor prognosis,” said presenting author Funda Meric-Bernstam, MD, Chair of the Department of Investigational Cancer Therapeutics at The University of Texas MD Anderson Cancer Center. “These preliminary results with datopotamab deruxtecan in patients with heavily pretreated HR positive, HER2 low or negative metastatic breast cancer are encouraging and warrant further evaluation in this setting.”

 

The safety profile of datopotamab deruxtecan was consistent with previous data with no new safety signals identified. The most common grade 3 or higher treatment-emergent adverse events (TEAEs) were decreased lymphocyte count (15%), stomatitis (10%), anemia (7%), dyspnea (2%) and fatigue (2%). Serious TEAEs were observed in six (15%) patients, including one death due to dyspnea that was not considered treatment-related. Treatment discontinuations due to an adverse event occurred in five (12%) patients. No cases of grade 3 or higher diarrhea or febrile neutropenia were observed. One case of grade 3 interstitial lung disease was adjudicated as treatment-related.

 

“These results add to the growing body of data demonstrating the potential of datopotamab deruxtecan to treat certain types of metastatic breast cancer,” said Mark Rutstein, MD, Global Head, Oncology Clinical Development, Daiichi Sankyo. “We look forward to the continued evaluation of our TROP2 directed antibody drug conjugate, including comparisons to standard therapy in earlier lines of treatment for HR positive, HER2 low or negative metastatic breast cancer through our ongoing TROPION-Breast01 phase 3 trial.”

 

“Many of these patients with metastatic breast cancer in TROPION-PanTumor01 had exhausted most of their available treatment options, having received a striking median of five prior regimens, including a CDK4/6 inhibitor for nearly all patients,” said Cristian Massacesi, MD, Chief Medical Officer and Oncology Chief Development Officer, AstraZeneca. “These promising results with datopotamab deruxtecan in such a heavily pretreated patient population support our strong belief that this TROP2 directed antibody drug conjugate has the potential to improve outcomes for patients with HR positive, HER2 low or negative breast cancer in this, and possibly earlier settings.”

 

Patients in this cohort were heavily pretreated, receiving a median of five prior lines of treatment in the metastatic setting (range, 3-10). Prior treatments included CDK4/6 inhibitors (95%), capecitabine (83%), taxanes (59%), anthracyclines (54%), neoadjuvant chemotherapy (37%), mTOR inhibitors (29%) and PI3KCA inhibitors (20%). As of data cut-off on July 22, 2022, five patients remained on study treatment.

 

Summary of Results

Efficacy Measure

Datopotamab Deruxtecan (6 mg/kg) n=41

Confirmed ORR, %i,ii

27% (n=11)

PR, %

27% (n=11)

SD, %

56% (n=23)

Non-CR/non-PD, %

2% (n=1)

PD, %

12% (n=5)

NE, %

2% (n=1)

DCR, %i,iii

85% (n=35)

Median DoR (months) (95% CI)i

NE (4.4-NE)

Median PFS (months) (95% CI)i

8.3 months (5.5-11.1)

Median OS (months)

Not reached

CI, confidence interval; CR, clinical response; DCR, disease control rate; DoR, duration of response; NE, not evaluable; ORR, objective response rate; OS, overall survival; PD, progressive disease; PFS, progression-free survival; PR, partial response; SD, stable disease

i As assessed by BICR

ii ORR is (CR + PR)

iii DCR is (CR + PR + SD + non-CR/non-PD)

 

Daiichi Sankyo and AstraZeneca have a broad clinical development program for datopotamab deruxtecan in breast cancer, including the ongoing pivotal TROPION-Breast01 phase 3 trial evaluating datopotamab deruxtecan in patients with HR positive, HER2 low or negative, inoperable or metastatic breast cancer previously treated with chemotherapy.

 

About TROPION-PanTumor01

TROPION-PanTumor01 is a first-in-human, open-label, two-part, multicenter phase 1 trial evaluating the safety and preliminary efficacy of datopotamab deruxtecan in patients with advanced solid tumors that have relapsed or are refractory to standard treatment or for which no standard treatment is available. The dose escalation portion of the trial enrolled patients with non-small cell lung cancer (NSCLC) to assess the safety and efficacy of datopotamab deruxtecan to determine the recommended dose for expansion (6 mg/kg). The dose expansion part of TROPION-PanTumor01 is enrolling several different cohorts including patients with NSCLC, triple negative breast cancer (TNBC), HR positive, HER2 low or negative breast cancer, small cell lung cancer, urothelial, gastric, pancreatic, castration-resistant prostate and esophageal cancer.

 

Safety endpoints include dose-limiting toxicities and serious adverse events. Efficacy endpoints include ORR, DoR, time to response, PFS and OS. Pharmacokinetic, biomarker and immunogenicity endpoints also are being evaluated.

 

About HR Positive, HER2 Low or Negative Breast Cancer

Breast cancer is the most common cancer and one of the leading causes of cancer-related deaths worldwide.3 More than two million breast cancer cases were diagnosed in 2020 with nearly 685,000 deaths globally.3

 

Breast cancer is considered HR positive, HER2 low or negative when the tumors test positive for estrogen and/or progesterone hormone receptors and low for HER2 (measured as a HER2 score of IHC 1+ or IHC 2+/ISH-) or negative for HER2 (measured as IHC 0).1,4 This subtype accounts for approximately 70% of diagnosed breast cancer cases and is associated with lower survival rates with 30% of patients anticipated to live beyond five years after diagnosis.1 Current standard of care treatment for patients with HR positive, HER2 low or negative metastatic breast cancer that progress on hormone therapy-based regimens is sequential single-agent chemotherapy, which is associated with a low median PFS of less than 10 months and OS of less than two years, underscoring the need for additional treatment options.2,5,6,7

 

TROP2 (trophoblast cell-surface antigen 2) is a transmembrane glycoprotein that is broadly expressed in several types of solid tumors, including HR positive, HER2 low or negative breast cancer.8,9 TROP2 expression is an unfavorable prognostic factor for overall survival in all types of breast cancer.8

 

About Datopotamab Deruxtecan (Dato-DXd)

Datopotamab deruxtecan (Dato-DXd) is an investigational TROP2 directed ADC. Designed using Daiichi Sankyo’s proprietary DXd ADC technology, datopotamab deruxtecan is one of the three lead ADCs in the oncology pipeline of Daiichi Sankyo, and one of the most advanced programs in AstraZeneca’s ADC scientific platform. Datopotamab deruxtecan is comprised of a humanized anti-TROP2 IgG1 monoclonal antibody, developed in collaboration with Sapporo Medical University, attached to a number of topoisomerase I inhibitor payloads, an exatecan derivative, via tetrapeptide-based cleavable linkers.

 

A comprehensive development program called TROPION is underway globally with more than 10 trials evaluating the efficacy and safety of datopotamab deruxtecan across multiple TROP2 targetable tumors, including NSCLC, TNBC and HR positive, HER2 low or negative breast cancer. Trials in combination with other anticancer treatments, such as immunotherapy, are also underway.

 

About the Daiichi Sankyo and AstraZeneca Collaboration
Daiichi Sankyo and AstraZeneca entered into a global collaboration to jointly develop and commercialize datopotamab deruxtecan in July 2020, except in Japan where Daiichi Sankyo maintains exclusive rights. Daiichi Sankyo is responsible for the manufacturing and supply of datopotamab deruxtecan.

 

About Daiichi Sankyo

Daiichi Sankyo is dedicated to creating new modalities and innovative medicines by leveraging our world-class science and technology for our purpose “to contribute to the enrichment of quality of life around the world.” In addition to our current portfolio of medicines for cancer and cardiovascular disease, Daiichi Sankyo is primarily focused on developing novel therapies for people with cancer as well as other diseases with high unmet medical needs. With more than 100 years of scientific expertise and a presence in more than 20 countries, Daiichi Sankyo and its 16,000 employees around the world draw upon a rich legacy of innovation to realize our 2030 Vision to become an “Innovative Global Healthcare Company Contributing to the Sustainable Development of Society.” For more information, please visit: www.daiichisankyo.com.

 

References:

1 National Cancer Institute. SEER cancer stat facts: female breast cancer subtypes. Accessed December 2022.

2 NCCN Treatment Guidelines for Breast Cancer. Version 4.2022.

3 Sung H, et al. CA Cancer J Clin. 2021;10.3322/caac.21660.

4 Iqbal N, et al. Mol Biol Int. 2014;852748.

5 Cortes J, et al. Lancet. 2011;377:914-923.

6 Yuan P, et al. Eur J Cancer. 2019;112:57-65.

7 Jerusalem G, et al. JAMA Oncol. 2018;4(10):1367–1374.

8Goldenberg D, et al. Oncotarget. 2018;9(48): 28989-29006.

9 Zaman S, et al. Onco Targets Ther. 2019;12:1781–1790.

Contacts

Media Contacts:

Global/US:
Rose Talarico

Daiichi Sankyo, Inc.

rtalarico@dsi.com
+1 973 775 0838 (mobile)

EU:
Simone Jendsch-Dowé

Daiichi Sankyo Europe GmbH

simone.dowe@daiichi-sankyo.eu
+49 (89) 78080 (office)

Japan:
Koji Ogiwara

Daiichi Sankyo Co., Ltd.

ogiwara.koji.ay@daiichisankyo.co.jp
+81 3 6225 1126 (office)

Investor Relations:
DaiichiSankyoIR@daiichisankyo.co.jp

Categories
Business Lifestyle Local News Science

Universal Display Corporation named to Newsweek’s America’s Most Responsible Companies for third consecutive year

EWING, N.J. — (BUSINESS WIRE) — $OLED #OLED—Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, announced today that the Company was named to Newsweek’s list of America’s Most Responsible Companies 2023.

 

Universal Display ranked #215 on the 2023 list, which recognizes the top 500 most responsible companies in the United States across fourteen different industries. This is UDC’s third consecutive year on the list.

“We are pleased to be recognized for the third year among America’s most responsible companies,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation.

 

“For more than two-and-a-half decades, we have focused on cultivating and fostering a global culture that promotes inclusion, inventiveness, integrity and imagination. We also endeavor to contribute to creating a sustainable and low-carbon future through our energy-efficient portfolio of OLED solutions, including our award-winning phosphorescent OLED technology and UniversalPHOLED materials that are proven, and integral to enabling high performance, low-power consumption and energy-efficiency in OLED displays and lighting.”

 

Newsweek partnered with Statista to recognize the top 500 most responsible companies in the United States. America’s Most Responsible Companies were selected based on publicly available key performance indicators derived from CSR Reports, Sustainability Reports, and Corporate Citizenship Reports as well as an independent survey of more than 13,000 U.S. residents. The ranking focuses on a holistic view on corporate responsibility that considers the three pillars of ESG: Environment, Social and Corporate Governance. For more details on the methodology, please visit https://cdn.statcdn.com/rankings/Methodology_Americas_Most_Responsible_Companies_2023.pdf.

 

For more information about Universal Display Corporation’s corporate social responsibility commitment, please visit https://ir.oled.com/shareholders/Corporate-Responsibility/default.aspx.

 

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,500 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

 

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

 

All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

 

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Contacts

Universal Display Contact:
Darice Liu

investor@oled.com
media@oled.com
+1 609-964-5123

Categories
Business Healthcare Lifestyle

PAX debuts new PAX Era device and High Purity THC

Offers consumers the perfect blend of potency and flavor, at an accessible price

 

SAN FRANCISCO — (BUSINESS WIRE) — #PAXlife—PAX, a leading global cannabis brand, today announced the launch of its latest cannabis experience—the all new PAX Era vaporizer device and High Purity THC pod, the fourth cannabis product to come to market from PAX this year. Designed to work perfectly together, the new Era lineup offers consumers more vapor and a new anti-clog feature, while PAX High Purity THC pods offer a high potency experience at the brand’s most accessible price point to date.


“We’re excited to continue to expand our cannabis offerings to better meet the needs and lifestyles of our customers, especially those who want the clean, high quality products PAX has staked its reputation on,” said Steven Jung, Chief Operating Officer at PAX. “In this case, we’re delivering a high performing closed-loop system, paired with our High Potency THC, to provide the perfect blend of unique flavors and potency at an accessible price.”

 

PAX Era

Building on more than a decade of innovation and industry leading standards, the newest device from PAX’s rechargeable closed-loop battery and pod system, PAX Era, has been re-engineered to heat faster and produce more vapor, delivering hits up to 50% bigger than previous generations. An intuitive new anti-clog feature works automatically to prevent clogs. PAX’s patented temperature control heats, and never burns, for consistent flavors and aromas from start-to-finish for every pod. All devices are backed by a 1-year limited warranty.

 

The lineup offers three vibrant new colorways, Ultra Pink, Ultra Blue, and Ultra Green, in addition to a classic Black, with a MSRP starting at $35. PAX Era devices are available to consumers on pax.com or through licensed retailers in 20 states, including Arizona, California, Colorado, Connecticut, Florida, Illinois, Louisiana, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, Oklahoma, Oregon, Pennsylvania, Rhode Island, Utah and Washington.

 

PAX High Purity THC

PAX’s High Purity THC pods are California cannabis oil, sourced for purity and potency, enhanced with a blend of terpenes to bring out unique flavor and taste profiles. Available in six flavor-forward cultivars, including Limoncello Haze (Sativa), Strawberry Créme (Sativa), Berry Gelato (Hybrid), Forbidden Fruit (Hybrid), London Pound Cake (Indica), and GMO Cookies (Indica) each with 85%+ THC. All PAX pods are made with food grade materials and tested to medical standards, certified free from residual solvents, cutting agents, harmful heavy metals, toxins and contaminants. Available across California, PAX’s High Purity THC starts at $30 for 1G, providing the lowest-cost introduction to the PAX platform.

 

PAX is a leading global cannabis brand on a mission to enhance people’s lives through exceptional cannabis experiences. PAX’s curated set of pure, full-flavor products and award-winning devices make enjoying cannabis clean, simple and safe. For more than a decade, PAX has created high performance devices that deliver enduring quality through innovations in design and technology, and remain trusted by millions of consumers nationwide. The PAX brand believes in creating sustainable well-being and building opportunity through cannabis. pax.com

 

NOT FOR SALE TO MINORS. Final Bell Lic. No. C12-0000266-LIC. © 2022 PAX Labs, Inc. All Rights Reserved. PAX, X, and ERA are all trademarks of PAX Labs, Inc. Patents and Trademarks: pax.com/IP.

Contacts

press@pax.com