Categories
Business

PGIM Investments expands alternative investment lineup with new PGIM Wadhwani fund

NEWARK, N.J. — (BUSINESS WIRE) — $PRU–PGIM Investments continues to expand its platform of alternative investment solutions with the launch of the PGIM Wadhwani Systematic Absolute Return Fund, a proprietary quantitative and systematic global macro strategy seeking long-term risk-adjusted total return. This is PGIM Investments’ first PGIM Wadhwani strategy offered as a U.S. mutual fund.


“Investors are facing a challenging market environment where stock market valuations are historically high and bond market yields are historically low. Alternative investment solutions like global macro strategies may offer a compelling way for investors to generate uncorrelated risk-adjusted returns to complement their traditional 60/40 portfolios,” said Stuart Parker, president and CEO of PGIM Investments.

 

The fund invests across global equities, fixed income and currencies (directly or through the use of derivatives), taking both long and short positions, in an effort to capture alpha opportunities while limiting downside risk. With its dynamic asset allocation strategy, the fund seeks to remain nimble in quickly changing market environments.

 

“With risk management integral to the way we construct portfolios, we employ an agile approach, dynamically tilting and timing our exposures and combining signals in a non-linear fashion to try to limit portfolio drawdowns,” said Dr. Sushil Wadhwani, CBE, chief investment officer of PGIM Wadhwani and a named portfolio manager of the fund. Dr. Wadhwani has 31 years of investment experience, which includes work in academia and the financial sector, as well as several years on the Bank of England’s Monetary Policy Committee.

 

PGIM Investments is part of PGIM, Inc. (“PGIM”), the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Wadhwani LLP (formerly QMA Wadhwani LLP) is a London-based asset management company that specializes in systematic global macro investing with a unique combination of academic, macro, policy and financial market experience.

 

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 PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world* with approximately $1.5 trillion in assets under management as of June 30, 2021. With offices in 17 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.

 

* Prudential Financial, Inc. (PFI) is the 10th-largest investment manager (out of 477) in terms of global AUM based on the Pensions & Investments Top Money Managers list published on May 31, 2021. This ranking represents assets managed by Prudential Financial as of Dec. 31, 2020.

 

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 involves risks. Some mutual 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. There is no guarantee that a fund’s objectives will be achieved. The risks associated with each fund are explained more fully in each fund’s respective prospectus.

 

Funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company. PGIM Wadhwani is the primary business name of PGIM Wadhwani LLP, a wholly owned subsidiary of PGIM, Inc. (PGIM), a Prudential Financial company. © 2021 Prudential Financial, Inc. and its related entities. 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.

 

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Contacts

MEDIA CONTACT
Kylie Scott

+1 973 902 2503

kylie.scott@pgim.com

Categories
Business Science

Shionogi to present In Vitro and Real-World Data at IDWeek 2021 demonstrating activity of FETROJA® (cefiderocol) against gram-negative pathogens

OSAKA, Japan & FLORHAM PARK, N.J. — (BUSINESS WIRE) — Shionogi & Co., Ltd. (hereafter “Shionogi”) today announces that 11 abstracts on FETROJA® (cefiderocol) will be shared at IDWeek. The meeting will take place virtually from Sept. 29 – Oct. 3, 2021.

  

“The data presented at IDWeek underscores our commitment to fighting antimicrobial resistance and addressing the challenges in treating carbapenem-resistant Gram-negative bacteria, which are associated with high mortality and unmet need,” said Akira Kato, Ph.D., President and CEO at Shionogi Inc. “We look forward to sharing new real-world data on FETROJA with the infectious disease community at IDWeek.”

 

Presentations will include data from company-sponsored or investigator-initiated studies. Abstracts will be available in the IDWeek Interactive Program and include:

 

  • Poster #789: Susceptibility of Phenotypic Subsets of Pseudomonas aeruginosa isolates of Cefiderocol and Comparator Agents from SIDERO-WT 2014-2019

    Presenter: Sean Nguyen, Pharm.D.

  • Poster #1058: In Vitro and in Vivo Antibacterial Activity of Cefiderocol against Burkholderia spp.

    Presenter: Merime Ota, BSc

  • Poster #1065: Efficacy of Cefiderocol in Experimental Stenotrophomonas maltophilia Pneumonia in Persistently Neutropenic Rabbits

    Presenter: Vidmantas Petraitis, M.D.

  • Poster #1066: In Vitro and in Vivo Antimicrobial Activity of Cefiderocol and Comparators against Achromobacter spp

    Presenter: Ryuichiro Nakai, MSc

  • Poster #1106: Evaluation of Penetration of Cefiderocol into Cerebrospinal Fluid Using a Rat Meningitis Model

    Presenter: Miki Takemura, M.S.

  • Poster #1232: In Vitro Activity of Cefiderocol and Comparator Agents against Molecularly-characterized Carbapenem-resistant Enterobacterales Clinical Isolates Causing Infection in United States Hospitals (2020)

    Presenter: Rodrigo E. Mendes, Ph.D.

  • Poster #1256: Clinical Response by Minimum Inhibitory Concentrations in Carbapenem-Resistant Pseudomonas aeruginosa Infections under Cefiderocol Compassionate Use Program

    Presenter: Michael Satlin, M.D.

  • Poster #1272: Cefiderocol In Vitro Activity against Molecularly characterized Acinetobacter baumannii-calcoaceticus complex and Pseudomonas aeruginosa Clinical Isolates Causing Infection in United States Hospitals (2020)

    Presenter: Rodrigo E. Mendes, Ph.D.

  • Poster #1287: Double Disk Diffusion Study to Evaluate the Synergistic Effect Between Cefiderocol and Ceftazidime-Avibactam Against Cefiderocol-non-susceptible Acinetobacter baumannii

    Presenter: Yoshinori Yamano, Ph.D.

  • Poster #1291: PROVE (Retrospective Cefiderocol Chart Review) Study of Real-World Outcomes and Safety in the Treatment of Patients with Gram-negative Bacterial Infections in the US and Europe

    Presenter: Stephen W. Marcella, M.D., M.P.H.

  • Poster #1308: Activity of Cefiderocol and Comparators against Gram-negative Isolates from US Patients Hospitalized with Pneumonia

    Presenter: Dee Shortridge, Ph.D.

 

For additional information related to FETROJA, please contact Shionogi at medinfo@shionogi.com.

 

About FETROJA® (cefiderocol) for Injection

FETROJA® (cefiderocol) is a cephalosporin antibiotic with a novel mechanism for penetrating the outer cell membrane of Gram-negative pathogens by acting as a siderophore. In addition to entering cells by passive diffusion through porin channels, FETROJA binds to ferric iron and is actively transported into bacterial cells through the outer membrane via the bacterial iron transporters, which function to incorporate this essential nutrient for bacteria. These mechanisms allow FETROJA to achieve high concentrations in the periplasmic space where it can bind to penicillin-binding proteins and inhibit cell wall synthesis in the bacterial cells. FETROJA has also demonstrated in vitro activity against certain bacteria that contain very problematic resistant enzymes such as ESBLs, AmpC, serine- and metallo-carbapenemases. Data from multinational surveillance studies for FETROJA demonstrated potent in vitro activity against a wide spectrum of Gram-negative pathogens including carbapenem-resistant A. baumannii, P. aeruginosa, Enterobacterales, and S. maltophilia. The clinical significance of the in vitro data is unknown. FETROJA has poor in vitro activity against Gram-positive or anaerobic bacteria.

 

Cefiderocol, under the brand name FETCROJA®, is approved by the European Commission for the treatment of infections due to aerobic Gram-negative bacteria in adults 18 years or older with limited treatment options.

 

US INDICATIONS

Fetroja® (cefiderocol) is indicated in patients 18 years of age or older for the treatment of complicated urinary tract infections (cUTIs), including pyelonephritis caused by the following susceptible Gram-negative microorganisms: Escherichia coli, Klebsiella pneumoniae, Proteus mirabilis, Pseudomonas aeruginosa, and Enterobacter cloacae complex.

 

Fetroja is indicated in patients 18 years of age or older for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia, caused by the following susceptible Gram-negative microorganisms: Acinetobacter baumannii complex, Escherichia coli, Enterobacter cloacae complex, Klebsiella pneumoniae, Pseudomonas aeruginosa, and Serratia marcescens.

 

USAGE

To reduce the development of drug-resistant bacteria and maintain the effectiveness of Fetroja and other antibacterial drugs, Fetroja should be used only to treat or prevent infections that are proven or strongly suspected to be caused by susceptible bacteria.

 

SELECT IMPORTANT SAFETY INFORMATION

CONTRAINDICATIONS

Fetroja is contraindicated in patients with a known history of severe hypersensitivity to cefiderocol or other beta-lactam antibacterial drugs, or any other component of Fetroja.

 

WARNINGS AND PRECAUTIONS

Increase in All-Cause Mortality in Patients with Carbapenem-Resistant Gram-Negative Bacterial Infections

An increase in all-cause mortality was observed in patients treated with Fetroja as compared to best available therapy (BAT) in a multinational, randomized, open-label trial in critically ill patients with carbapenem-resistant Gram-negative bacterial infections (NCT02714595). Patients with nosocomial pneumonia, bloodstream infections, sepsis, or cUTI were included in the trial. BAT regimens varied according to local practices and consisted of 1 to 3 antibacterial drugs with activity against Gram-negative bacteria. Most of the BAT regimens contained colistin.

 

The increase in all-cause mortality occurred in patients treated for nosocomial pneumonia, bloodstream infections, or sepsis. The 28-Day all-cause mortality was higher in patients treated with Fetroja than in patients treated with BAT [25/101 (24.8%) vs 9/49 (18.4%), treatment difference 6.4%, 95% CI (-8.6, 19.2)]. All-cause mortality remained higher in patients treated with Fetroja than in patients treated with BAT through Day 49 [34/101 (33.7%) vs 10/49 (20.4%), treatment difference 13.3%, 95% CI (-2.5, 26.9)]. Generally, deaths were in patients with infections caused by Gram-negative organisms, including non-fermenters such as Acinetobacter baumannii complex, Stenotrophomonas maltophilia, and Pseudomonas aeruginosa, and were the result of worsening or complications of infection, or underlying comorbidities. The cause of the increase in mortality has not been established.

 

Closely monitor the clinical response to therapy in patients with cUTI and HABP/VABP.

 

For Full US Prescribing Information, please visit Shionogi.com

 

Shionogi’s commitment to fighting antimicrobial resistance

Shionogi has a strong heritage in the field of anti-infectives and has been developing antimicrobial therapies for more than 60 years. Shionogi is proud to be one of the few large pharmaceutical companies that continue to focus on research and development in anti-infectives. The company invests the highest proportion of its pharmaceutical revenues in relevant anti-infectives R&D compared to other large pharmaceutical companies.1

 

For more information, please refer to: https://www.shionogi.com/global/en/sustainability/amr.html

 

About Shionogi

Shionogi & Co., Ltd. is a Japanese major research-driven pharmaceutical company dedicated to bringing benefits to patients based on its corporate philosophy of “supplying the best possible medicine to protect the health and wellbeing of the patients we serve.” The company currently markets products in several therapeutic areas including anti-infectives, pain, cardiovascular diseases, and gastroenterology. Our pipeline is focused on infectious disease, pain, CNS, and oncology. For more information on Shionogi & Co., Ltd., visit https://www.shionogi.com/global/en/. Shionogi Inc. is the U.S. subsidiary of Shionogi & Co., Ltd. based in N.J. For more information on Shionogi Inc., please visit www.shionogi.com.

 

Forward Looking Statement

This announcement contains forward-looking statements. These statements are based on expectations in light of the information currently available, assumptions that are subject to risks and uncertainties which could cause actual results to differ materially from these statements. Risks and uncertainties include general domestic and international economic conditions such as general industry and market conditions, and changes of interest rate and currency exchange rate. These risks and uncertainties particularly apply with respect to product-related forward-looking statements. Product risks and uncertainties include, but are not limited to, completion and discontinuation of clinical trials; obtaining regulatory approvals; claims and concerns about product safety and efficacy; technological advances; adverse outcome of important litigation; domestic and foreign healthcare reforms and changes of laws and regulations. Also, for existing products, there are manufacturing and marketing risks, which include, but are not limited to, inability to build production capacity to meet demand, unavailability of raw materials and entry of competitive products. The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.


1 Antimicrobial Resistance Benchmark 2020.

https://accesstomedicinefoundation.org/media/uploads/downloads/5f3f76733efaa_Antimicrobial_Resistance_Benchmark_2020.pdf Last accessed September 2021.

Contacts

Lindsay Bohlander, Senior Director, Corporate Planning & Communications

+1 973-307-3718

Lindsay.Bohlander@shionogi.com

Categories
Business Education

Barnes & Noble Education names Maureen Paradine as senior vice president, chief human resources officer

BASKING RIDGE, N.J. — (BUSINESS WIRE) — Barnes & Noble Education, Inc. (NYSE: BNED), a leading solutions provider for the education industry, today announced that Maureen Paradine has been named Senior Vice President, Chief Human Resources Officer, effective September 27, 2021. Ms. Paradine will report directly to Michael C. Miller, Executive Vice President, Corporate Development and Affairs, and Chief Legal Officer, BNED.

As Chief Human Resources Officer, Ms. Paradine will be responsible for the talent, recruiting, diversity and inclusion, compensation, benefits, employee relations and all aspects of human resources for the Company. Ms. Paradine brings 30 years of human resources experience and more than 20 years experience in the retail industry to her new role at BNED. She has a proven track record as a leader, building out foundational processes and establishing strategic HR functions and partnerships around compensation, retention and rewards, employee engagement, performance management and succession planning, and implemented technologies and dashboards to provide clearer, more consistent data to the leadership team and board of directors.

 

“We are pleased to welcome Maureen to BNED as our new Chief Human Resources Officer,” said Michael P. Huseby, CEO and Chairman, BNED. “Maureen’s leadership experience and impressive background developing and overseeing the HR strategy for a diverse workforce in the retail industry will be an incredible asset to BNED.”

 

Prior to joining BNED, Ms. Paradine served as Senior Vice President, Human Resources, 1-800-FLOWERS.COM, Inc., a U.S.-based floral and foods gift retailer and distribution company with several subsidiaries, including Harry & David, The Popcorn Factory, Wolferman’s Bakery and more. There, she oversaw all human resources activities for the company’s 4,000 employees across the enterprise, including organizational development, talent development, human capital management, performance management, employment law, compensation and benefits. Before joining 1-800-FLOWERS.COM, Inc. in 2005, Ms. Paradine spent four years as Vice President, Human Resources at The Hain Celestial Group. Prior to that, she held a variety of human resources and development roles at Thomson Industries, Inc., Cooper & Dunham LLP and Klein Behavioral Science Consultants.

 

Maureen is a member of the Selection Committee for the Athena Women’s Leadership Award for Long Island. She earned a Master’s in Industrial/Organizational Psychology from New York University and a Bachelor of Arts in Business from Hofstra University.

 

ABOUT BARNES & NOBLE EDUCATION, INC.

Barnes & Noble Education, Inc. (NYSE: BNED) is a leading solutions provider for the education industry, driving affordability, access and achievement at hundreds of academic institutions nationwide and ensuring millions of students are equipped for success in the classroom and beyond. Through its family of brands, BNED offers campus retail services and academic solutions, a digital direct-to-student learning ecosystem, wholesale capabilities and more. BNED is a company serving all who work to elevate their lives through education, supporting students, faculty and institutions as they make tomorrow a better, more inclusive and smarter world. For more information, visit www.bned.com.

Contacts

Media:
Carolyn J. Brown

Senior Vice President

Corporate Communications & Public Affairs

Barnes & Noble Education

908-991-2967 cbrown@bned.com

Categories
Healthcare Science

On the 15th anniversary of World Contraception Day Bayer releases survey results that highlight the role of contraceptives in women’s lives

Despite advances in women’s healthcare and the importance of contraceptives, the COVID-19 pandemic continues to challenge access 

 

WHIPPANY, N.J. — (BUSINESS WIRE) — Access to women’s healthcare has grown more complex in the economic crisis and day-to-day disruption caused by the ongoing COVID-19 pandemic.1 Yet, a new survey commissioned by Bayer underscores the importance of contraceptives in many aspects of women’s lives.2


Released today to mark the 15th anniversary of World Contraception Day, the new survey results show the majority of women who use birth control agree contraceptives help them feel in control of their lives (90 percent) and health decisions (87 percent), as well as have the freedom to explore their passions (82 percent).2 Additionally, 78 percent of women who use birth control say it has a positive impact on their peace of mind, with 73 percent saying it is even more important to their peace of mind in times of uncertainty.2

 

“These survey results underscore the role of contraceptives in women’s lives. Yet, there remains a 45 percent unplanned pregnancy rate in this country3, pointing toward a greater need for education on contraception options and access to reproductive healthcare – challenges that have grown more complex in the COVID-19 pandemic,” said Dr. Yesmean Wahdan, MD, Vice President, U.S. Medical Affairs, Bayer Women’s Healthcare. “At Bayer, we believe education and access are critical in helping women define their lives on their own terms. We demonstrate our We’re For Her mission by providing education and access so all women have the opportunity to make powerful decisions about their families, their futures and their health.”

 

Additional survey results from Bayer include:

  • The majority of women who use birth control agree that being educated about birth control is important in order to have meaningful conversations with healthcare professionals (82 percent) and knowing what questions to ask their providers (82 percent).2
  • 88 percent of women agree it is important that women have access to a variety of birth control methods so they can choose one that makes the most sense for them.2
  • Over half of women (53 percent) say they discuss family planning with a healthcare professional less than once per year or never.2
  • More than 3 in 4 women report that cost and affordability have a significant impact on their decision about what method of birth control to use, if any. Nearly half of birth control users (47 percent) say that prior to starting birth control, they anticipated it would be a financial burden for them. However, most (58 percent) say that paying for birth control has not been a financial burden for them.2

 

The Bayer survey –which polled a national sample of 1,000 US women ages 18-45 – was released for the 15th anniversary of World Contraception Day, a global movement to increase awareness of contraceptives and to enable women to have the tools, skills and knowledge to take control of their health and family planning.

 

Bayer’s We’re for Her Commitment

For over 60 years, Bayer has been committed to its mission of We’re for Her in all that we do. This mission is reflected every day in the initiatives that we drive, such as education and access to our product offerings, giving back to the communities we serve, and our investments in R&D to deliver new innovations and solutions.

 

Our commitment to We’re for Her includes supporting women to make powerful choices about their families, their futures and their health. We have remained dedicated to improving innovation in order to ensure women have options and information to meet their needs at all life stages from menarche through menopause – in normal and unprecedented times.

 

We continue to work hard to break down barriers to ensure that every woman can feel empowered and confident when it comes to her reproductive decisions and health. This means supporting every woman’s access to effective contraception regardless of their insurance coverage.

 

So even if you still have high out-of-pocket costs with your insurance, or if you don’t have insurance, there may be ways to get help paying for your birth control of choice.

 

To learn more, visit WereForHerAccess.com.

 

About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to drive sustainable development and generate a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2020, the Group employed around 100,000 people and had sales of 41.4 billion euros. R&D expenses before special items amounted to 4.9 billion euros. For more information, go to www.bayer.com.

 

1 Power to Decide, COVID-19 and Its Toll on Reproductive Health https://powertodecide.org/news/covid-19-and-its-toll-reproductive-health
2 This poll was conducted between July 29 – August 1, 2021 among a national sample of 1,000 US women, ages 18-45, excluding healthcare workers. The interviews were conducted online, and the data were weighted to approximate a target sample of US women, ages 18-45 based on age, educational attainment, race, and region. Results from the full survey have a margin of error of plus or minus 3 percentage points. Results reported are from the top two categories of the survey.

3 Finer LB and Zolna MR, Declines in unintended pregnancy in the United States, 2008–2011, New England Journal of Medicine, 2016, 374(9):843–852, doi:10.1056/NEJMsa1506575. https://www.nejm.org/doi/full/10.1056/nejmsa1506575

Contacts

Jennifer May

412-656-8192

jennifer.may@bayer.com

Categories
Business Technology

Spring Valley provides update on business combination with AeroFarms

DALLAS & NEWARK, N.J. — (BUSINESS WIRE) — Spring Valley Acquisition Corp. (“Spring Valley”) (Nasdaq: SV, SVSVW, SVSVU) and Dream Holdings, Inc. (“AeroFarms”) today provided an update on the closing process and related timeline for their previously announced business combination, which was approved by shareholders on August 30, 2021. Both parties are continuing to work diligently toward the transaction. Per the transaction agreements, absent any termination, the parties are permitted up to 30 additional days, expiring October 24, 2021 to close the transaction. Upon closing, the combined company’s stock and warrants would trade under the ticker symbols “ARFM” and “ARFMW”, respectively.

About Spring Valley Acquisition Corp.

Spring Valley Acquisition Corp. is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While Spring Valley may pursue an initial business combination target in any business or industry, it is targeting companies focusing on sustainability, including clean energy and storage, smart grid/efficiency, environmental services and recycling, mobility, water and wastewater management, advanced materials and technology enabled services. Spring Valley’s sponsor is supported by Pearl Energy Investment Management, LLC, a Dallas, Texas based investment firm that focuses on partnering with best-in-class management teams to invest in the North American energy industry.

 

About AeroFarms

Since 2004, AeroFarms has been leading the way for indoor vertical farming and championing transformational innovation for agriculture. On a mission to grow the best plants possible for the betterment of humanity, AeroFarms is a Certified B Corporation with global headquarters in Newark, New Jersey. Named one of the World’s Most Innovative Companies by Fast Company two years in a row and one of TIME’s Best Inventions in Food, AeroFarms patented, award-winning indoor vertical farming technology provides the perfect conditions for healthy plants to thrive, taking agriculture to a new level of precision, food safety, and productivity while using up to 95% less water and no pesticides ever versus traditional field farming. AeroFarms enables local production to safely grow all year round, using vertical farming for elevated flavor. In addition, through its proprietary growing technology platform, AeroFarms has grown over 550 varieties and has developed multi-year strategic partnerships ranging from government to major Fortune 500 companies to help uniquely solve agriculture supply chain needs. For additional information, visit: https://aerofarms.com/.

 

On March 26, 2021, AeroFarms announced a definitive business combination agreement with Spring Valley Acquisition Corp. (Nasdaq: SV). Upon the closing of the business combination, AeroFarms will become publicly traded on Nasdaq under the new ticker symbol “ARFM”. Additional information about the transaction can be viewed here: https://aerofarms.com/investors/.

 

Forward Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “might,” “will,” “estimate,” “continue,” “contemplate,” “anticipate,” “intend,” “expect,” “should,” “would,” “could,” “plan,” “predict,” “project,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, including those regarding Spring Valley’s proposed acquisition of AeroFarms and pursuit of additional capital are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of AeroFarms and Spring Valley and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of AeroFarms and Spring Valley. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely consummate the proposed transaction, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed transaction or that the approval of the stockholders of Spring Valley or AeroFarms is not obtained; failure to realize the anticipated benefits of the proposed transaction; risks related to the expansion of AeroFarms’ business and the timing of expected business milestones; the effects of competition on AeroFarms’ business; the ability of Spring Valley or AeroFarms to issue equity or equity-linked securities or obtain debt financing in connection with the proposed transaction or in the future, and those factors discussed in Spring Valley’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, final prospectus dated November 25, 2020 and definitive proxy statement/prospectus dated July 26, 2021 under the heading “Risk Factors,” and other documents Spring Valley has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Spring Valley nor AeroFarms presently know, or that Spring Valley nor AeroFarms currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Spring Valley’s and AeroFarms’ expectations, plans, or forecasts of future events and views as of the date of this press release. Spring Valley and AeroFarms anticipate that subsequent events and developments will cause Spring Valley’s and AeroFarms’ assessments to change. However, while Spring Valley and AeroFarms may elect to update these forward-looking statements at some point in the future, Spring Valley and AeroFarms specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Spring Valley’s and AeroFarms’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts

AeroFarms Contacts

Investor Relations:

Jeff Sonnek

ICR

Jeff.Sonnek@icrinc.com
1-646-277-1263

Media Relations:

Marc Oshima

AeroFarms

MarcOshima@AeroFarms.com
1-917-673-4602

Categories
Business

AM Best withdraws credit ratings of Crusader Insurance Company and Unico American Corporation

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b” (Marginal) from “bb+” (Fair) of Crusader Insurance Company (Crusader). AM Best also has downgraded the Long-Term ICR to “ccc-” (Weak) from “b” (Marginal) of Crusader’s parent company, Unico American Corporation (Unico). In addition, AM Best has maintained the under review with negative implications status for these Credit Ratings (ratings). Concurrently, AM Best has withdrawn these ratings at the request of the company to no longer participate in AM Best’s interactive rating process. Both companies are domiciled in Calabasas, CA.

The ratings reflect Crusader’s balance sheet strength, which AM Best assesses as weak, as well as its weak operating performance, limited business profile and marginal enterprise risk management.

 

The rating downgrades follow Crusader’s announcement that it has entered into an Administrative Supervision Agreement with the California Department of Insurance (CDI). The supervision agreement was requested by the CDI because of its expressed concerns regarding Crusader’s financial stability and the potential effects on Crusader and its California policyholders of any potential bankruptcy of Unico. The supervision agreement, among other things, provides for the appointment by the CDI of a special examiner to provide supervision and regulatory oversight of Crusader. It also imposes limitations on Crusader’s ability to take certain actions without the prior written consent of the California Insurance Commissioner, the special examiner, or the special examiner’s appointed representative. At this time, Crusader’s outgoing claims payments are not expected be limited or delayed. Additionally, there is nothing in the agreement between the CDI and Crusader that should restrict Crusader or Unico from pursuing a sale or a restructuring of Crusader subject to regulatory approvals and requirements.

 

While Crusader maintains sufficient liquidity, and its risk-adjusted capital levels remain at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), the downgrades reflect the lowered assessment of the balance sheet strength given the enterprise’s diminished financial flexibility and the constraints imposed on Crusader by the CDI.

 

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 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.

 

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Categories
Healthcare Science

LYNPARZA® (olaparib) in combination with abiraterone significantly delayed disease progression in patients regardless of biomarker status in PROpel phase 3 trial in first-line metastatic castration-resistant prostate cancer (mCRPC)

First PARP Inhibitor to Demonstrate Clinical Benefit in Radiographic Progression-Free Survival in Combination With New Hormonal Agent in This Setting

 

KENILWORTH, N.J. — (BUSINESS WIRE) — $MRK #MRK–AstraZeneca and Merck (NYSE:MRK), known as MSD outside the United States and Canada, today announced positive results from the Phase 3 PROpel trial, in which LYNPARZA in combination with abiraterone and prednisone demonstrated a statistically significant and clinically meaningful improvement in the primary endpoint of radiographic progression-free survival (rPFS) versus abiraterone plus prednisone as a first-line treatment for men with metastatic castration-resistant prostate cancer (mCRPC) with or without homologous recombination repair (HRR) gene mutations.

At a planned interim analysis, the Independent Data Monitoring Committee concluded that the trial met the primary endpoint of rPFS in men with mCRPC who had not received treatment in the first-line setting, including new hormonal agents (NHAs) or chemotherapy. The trial also showed a trend at this interim analysis towards improved overall survival (OS). However, the OS data are still immature, and the trial will continue to assess OS as a key secondary endpoint. The safety and tolerability were consistent with the known profiles of each medicine and will continue to be assessed.

Globally, prostate cancer is the second most common cancer in men, with an estimated 1.4 million patients diagnosed worldwide in 2020. Approximately 10-20% of men with advanced prostate cancer are estimated to develop CRPC within five years, and at least 84% of these men may develop metastases at the time of CRPC diagnosis.

Susan Galbraith, executive vice president, oncology R&D, AstraZeneca, said, “Today, men with metastatic castration-resistant prostate cancer have limited options in the first-line setting, and sadly often the disease progresses after initial treatment with current standards of care. These exciting results demonstrate the potential for LYNPARZA with abiraterone to become a new first-line option for these patients regardless of their biomarker status and may help reach a broad population of patients living with this aggressive disease. We look forward to discussing the results with global health authorities as soon as possible.”

Roy Baynes, senior vice president and head of global clinical development, chief medical officer, Merck Research Laboratories, said, “We are encouraged by the PROpel results and the clinical benefit LYNPARZA in combination with abiraterone demonstrated versus abiraterone as a potential first-line treatment option for men with metastatic castration-resistant prostate cancer. These data build on Merck and AstraZeneca’s commitment to bring LYNPARZA to earlier lines of treatment and to more patients with advanced prostate cancer.”

The data will be presented at an upcoming medical meeting.

About PROpel

PROpel is a randomized, double-blind, multicenter Phase 3 trial testing the efficacy, safety and tolerability of LYNPARZA versus placebo when given in addition to abiraterone in men with mCRPC who had not received prior chemotherapy or NHAs in the first-line setting. Patients in both treatment groups also received either prednisone or prednisolone (5 mg twice daily). The primary endpoint is rPFS, and secondary endpoints include OS and time to first subsequent anticancer therapy or death.

The trial enrolled men with or without HRR gene mutations. They may have previously been treated with docetaxel at a prior stage of disease. The trial excluded men with prior treatment with abiraterone. Treatment with any other NHA must have been stopped one year or longer prior to randomization. Men must have an Eastern Cooperative Oncology Group (ECOG) performance status of 0-1 and be a candidate for abiraterone treatment with documented evidence of progressive disease.

IMPORTANT SAFETY INFORMATION

CONTRAINDICATIONS

There are no contraindications for LYNPARZA.

WARNINGS AND PRECAUTIONS

Myelodysplastic Syndrome/Acute Myeloid Leukemia (MDS/AML): Occurred in approximately 1.5% of patients exposed to LYNPARZA monotherapy, and the majority of events had a fatal outcome. The median duration of therapy in patients who developed MDS/AML was 2 years (range: <6 months to >10 years). All of these patients had previous chemotherapy with platinum agents and/or other DNA-damaging agents, including radiotherapy.

Do not start LYNPARZA until patients have recovered from hematological toxicity caused by previous chemotherapy (≤Grade 1). Monitor complete blood count for cytopenia at baseline and monthly thereafter for clinically significant changes during treatment. For prolonged hematological toxicities, interrupt LYNPARZA and monitor blood count weekly until recovery.

If the levels have not recovered to Grade 1 or less after 4 weeks, refer the patient to a hematologist for further investigations, including bone marrow analysis and blood sample for cytogenetics. Discontinue LYNPARZA if MDS/AML is confirmed.

Pneumonitis: Occurred in 0.8% of patients exposed to LYNPARZA monotherapy, and some cases were fatal. If patients present with new or worsening respiratory symptoms such as dyspnea, cough, and fever, or a radiological abnormality occurs, interrupt LYNPARZA treatment and initiate prompt investigation. Discontinue LYNPARZA if pneumonitis is confirmed and treat patient appropriately.

Embryo-Fetal Toxicity: Based on its mechanism of action and findings in animals, LYNPARZA can cause fetal harm. A pregnancy test is recommended for females of reproductive potential prior to initiating treatment.

Females

Advise females of reproductive potential of the potential risk to a fetus and to use effective contraception during treatment and for 6 months following the last dose.

Males

Advise male patients with female partners of reproductive potential or who are pregnant to use effective contraception during treatment and for 3 months following the last dose of LYNPARZA and to not donate sperm during this time.

Venous Thromboembolic Events: Including pulmonary embolism, occurred in 7% of patients with metastatic castration-resistant prostate cancer who received LYNPARZA plus androgen deprivation therapy (ADT) compared to 3.1% of patients receiving enzalutamide or abiraterone plus ADT in the PROfound study. Patients receiving LYNPARZA and ADT had a 6% incidence of pulmonary embolism compared to 0.8% of patients treated with ADT plus either enzalutamide or abiraterone. Monitor patients for signs and symptoms of venous thrombosis and pulmonary embolism, and treat as medically appropriate, which may include long-term anticoagulation as clinically indicated.

ADVERSE REACTIONS—First-Line Maintenance BRCAm Advanced Ovarian Cancer

Most common adverse reactions (Grades 1-4) in ≥10% of patients in clinical trials of LYNPARZA in the first-line maintenance setting for SOLO-1 were: nausea (77%), fatigue (67%), abdominal pain (45%), vomiting (40%), anemia (38%), diarrhea (37%), constipation (28%), upper respiratory tract infection/influenza/ nasopharyngitis/bronchitis (28%), dysgeusia (26%), decreased appetite (20%), dizziness (20%), neutropenia (17%), dyspepsia (17%), dyspnea (15%), leukopenia (13%), UTI (13%), thrombocytopenia (11%), and stomatitis (11%).

Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients in clinical trials of LYNPARZA in the first-line maintenance setting for SOLO-1 were: decrease in hemoglobin (87%), increase in mean corpuscular volume (87%), decrease in leukocytes (70%), decrease in lymphocytes (67%), decrease in absolute neutrophil count (51%), decrease in platelets (35%), and increase in serum creatinine (34%).

ADVERSE REACTIONS—First-Line Maintenance Advanced Ovarian Cancer in Combination with Bevacizumab

Most common adverse reactions (Grades 1-4) in ≥10% of patients treated with LYNPARZA/bevacizumab compared to a ≥5% frequency for placebo/bevacizumab in the first-line maintenance setting for PAOLA-1 were: nausea (53%), fatigue (including asthenia) (53%), anemia (41%), lymphopenia (24%), vomiting (22%) and leukopenia (18%). In addition, the most common adverse reactions (≥10%) for patients receiving LYNPARZA/bevacizumab irrespective of the frequency compared with the placebo/bevacizumab arm were: diarrhea (18%), neutropenia (18%), urinary tract infection (15%) and headache (14%).

In addition, venous thromboembolic events occurred more commonly in patients receiving LYNPARZA/bevacizumab (5%) than in those receiving placebo/bevacizumab (1.9%).

Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients for LYNPARZA in combination with bevacizumab in the first-line maintenance setting for PAOLA-1 were: decrease in hemoglobin (79%), decrease in lymphocytes (63%), increase in serum creatinine (61%), decrease in leukocytes (59%), decrease in absolute neutrophil count (35%) and decrease in platelets (35%).

ADVERSE REACTIONS—Maintenance Recurrent Ovarian Cancer

Most common adverse reactions (Grades 1-4) in ≥20% of patients in clinical trials of LYNPARZA in the maintenance setting for SOLO-2 were: nausea (76%), fatigue (including asthenia) (66%), anemia (44%), vomiting (37%), nasopharyngitis/upper respiratory tract infection (URI)/influenza (36%), diarrhea (33%), arthralgia/myalgia (30%), dysgeusia (27%), headache (26%), decreased appetite (22%), and stomatitis (20%).

Study 19: nausea (71%), fatigue (including asthenia) (63%), vomiting (35%), diarrhea (28%), anemia (23%), respiratory tract infection (22%), constipation (22%), headache (21%), decreased appetite (21%) and dyspepsia (20%).

Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients in clinical trials of LYNPARZA in the maintenance setting (SOLO-2/Study 19) were: increase in mean corpuscular volume (89%/82%), decrease in hemoglobin (83%/82%), decrease in leukocytes (69%/58%), decrease in lymphocytes (67%/52%), decrease in absolute neutrophil count (51%/47%), increase in serum creatinine (44%/45%), and decrease in platelets (42%/36%).

ADVERSE REACTIONS—Advanced gBRCAm Ovarian Cancer

Most common adverse reactions (Grades 1-4) in ≥20% of patients in clinical trials of LYNPARZA for advanced gBRCAm ovarian cancer after 3 or more lines of chemotherapy (pooled from 6 studies) were: fatigue/asthenia (66%), nausea (64%), vomiting (43%), anemia (34%), diarrhea (31%), nasopharyngitis/upper respiratory tract infection (URI) (26%), dyspepsia (25%), myalgia (22%), decreased appetite (22%), and arthralgia/musculoskeletal pain (21%).

Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients in clinical trials of LYNPARZA for advanced gBRCAm ovarian cancer (pooled from 6 studies) were: decrease in hemoglobin (90%), mean corpuscular volume elevation (57%), decrease in lymphocytes (56%), increase in serum creatinine (30%), decrease in platelets (30%), and decrease in absolute neutrophil count (25%).

ADVERSE REACTIONS—gBRCAm, HER2-Negative Metastatic Breast Cancer

Most common adverse reactions (Grades 1-4) in ≥20% of patients in OlympiAD were: nausea (58%), anemia (40%), fatigue (including asthenia) (37%), vomiting (30%), neutropenia (27%), respiratory tract infection (27%), leukopenia (25%), diarrhea (21%), and headache (20%).

Most common laboratory abnormalities (Grades 1-4) in >25% of patients in OlympiAD were: decrease in hemoglobin (82%), decrease in lymphocytes (73%), decrease in leukocytes (71%), increase in mean corpuscular volume (71%), decrease in absolute neutrophil count (46%), and decrease in platelets (33%).

ADVERSE REACTIONS—First-Line Maintenance gBRCAm Metastatic Pancreatic Adenocarcinoma

Most common adverse reactions (Grades 1-4) in ≥10% of patients in clinical trials of LYNPARZA in the first-line maintenance setting for POLO were: fatigue (60%), nausea (45%), abdominal pain (34%), diarrhea (29%), anemia (27%), decreased appetite (25%), constipation (23%), vomiting (20%), back pain (19%), arthralgia (15%), rash (15%), thrombocytopenia (14%), dyspnea (13%), neutropenia (12%), nasopharyngitis (12%), dysgeusia (11%), and stomatitis (10%).

Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients in clinical trials of LYNPARZA in the first-line maintenance setting for POLO were: increase in serum creatinine (99%), decrease in hemoglobin (86%), increase in mean corpuscular volume (71%), decrease in lymphocytes (61%), decrease in platelets (56%), decrease in leukocytes (50%), and decrease in absolute neutrophil count (25%).

ADVERSE REACTIONS—HRR Gene-mutated Metastatic Castration Resistant Prostate Cancer

Most common adverse reactions (Grades 1-4) in ≥10% of patients in clinical trials of LYNPARZA for PROfound were: anemia (46%), fatigue (including asthenia) (41%), nausea (41%), decreased appetite (30%), diarrhea (21%), vomiting (18%), thrombocytopenia (12%), cough (11%), and dyspnea (10%).

Most common laboratory abnormalities (Grades 1-4) in ≥25% of patients in clinical trials of LYNPARZA for PROfound were: decrease in hemoglobin (98%), decrease in lymphocytes (62%), decrease in leukocytes (53%), and decrease in absolute neutrophil count (34%).

DRUG INTERACTIONS

Anticancer Agents: Clinical studies of LYNPARZA with other myelosuppressive anticancer agents, including DNA-damaging agents, indicate a potentiation and prolongation of myelosuppressive toxicity.

CYP3A Inhibitors: Avoid coadministration of strong or moderate CYP3A inhibitors when using LYNPARZA. If a strong or moderate CYP3A inhibitor must be coadministered, reduce the dose of LYNPARZA. Advise patients to avoid grapefruit, grapefruit juice, Seville oranges, and Seville orange juice during LYNPARZA treatment.

CYP3A Inducers: Avoid coadministration of strong or moderate CYP3A inducers when using LYNPARZA.

USE IN SPECIFIC POPULATIONS

Lactation: No data are available regarding the presence of olaparib in human milk, its effects on the breastfed infant or on milk production. Because of the potential for serious adverse reactions in the breastfed infant, advise a lactating woman not to breastfeed during treatment with LYNPARZA and for 1 month after receiving the final dose.

Pediatric Use: The safety and efficacy of LYNPARZA have not been established in pediatric patients.

Hepatic Impairment: No adjustment to the starting dose is required in patients with mild or moderate hepatic impairment (Child-Pugh classification A and B). There are no data in patients with severe hepatic impairment (Child-Pugh classification C).

Renal Impairment: No dosage modification is recommended in patients with mild renal impairment (CLcr 51-80 mL/min estimated by Cockcroft-Gault). In patients with moderate renal impairment (CLcr 31-50 mL/min), reduce the dose of LYNPARZA to 200 mg twice daily. There are no data in patients with severe renal impairment or end-stage renal disease (CLcr ≤30 mL/min).

INDICATIONS for LYNPARZA in the United States

LYNPARZA is a poly (ADP-ribose) polymerase (PARP) inhibitor indicated:

First-Line Maintenance BRCAm Advanced Ovarian Cancer

For the maintenance treatment of adult patients with deleterious or suspected deleterious germline or somatic BRCA-mutated (gBRCAm or sBRCAm) advanced epithelial ovarian, fallopian tube or primary peritoneal cancer who are in complete or partial response to first-line platinum-based chemotherapy. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA.

First-Line Maintenance HRD-Positive Advanced Ovarian Cancer in Combination with Bevacizumab

In combination with bevacizumab for the maintenance treatment of adult patients with advanced epithelial ovarian, fallopian tube or primary peritoneal cancer who are in complete or partial response to first-line platinum-based chemotherapy and whose cancer is associated with homologous recombination deficiency (HRD) positive status defined by either:

  • a deleterious or suspected deleterious BRCA mutation and/or
  • genomic instability

Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA.

Maintenance Recurrent Ovarian Cancer

For the maintenance treatment of adult patients with recurrent epithelial ovarian, fallopian tube or primary peritoneal cancer, who are in complete or partial response to platinum-based chemotherapy.

Advanced gBRCAm Ovarian Cancer

For the treatment of adult patients with deleterious or suspected deleterious germline BRCA-mutated (gBRCAm) advanced ovarian cancer who have been treated with 3 or more prior lines of chemotherapy. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA.

gBRCAm HER2-Negative Metastatic Breast Cancer

For the treatment of adult patients with deleterious or suspected deleterious gBRCAm, human epidermal growth factor receptor 2 (HER2)-negative metastatic breast cancer, who have been treated with chemotherapy in the neoadjuvant, adjuvant or metastatic setting. Patients with hormone receptor (HR)-positive breast cancer should have been treated with a prior endocrine therapy or be considered inappropriate for endocrine therapy. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA.

First-Line Maintenance gBRCAm Metastatic Pancreatic Cancer

For the maintenance treatment of adult patients with deleterious or suspected deleterious gBRCAm metastatic pancreatic adenocarcinoma whose disease has not progressed on at least 16 weeks of a first-line platinum-based chemotherapy regimen. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA.

HRR Gene-mutated Metastatic Castration Resistant Prostate Cancer

For the treatment of adult patients with deleterious or suspected deleterious germline or somatic homologous recombination repair (HRR) gene-mutated metastatic castration-resistant prostate cancer (mCRPC) who have progressed following prior treatment with enzalutamide or abiraterone. Select patients for therapy based on an FDA-approved companion diagnostic for LYNPARZA.

Please click here for complete Prescribing Information, including Patient Information (Medication Guide).

About LYNPARZA® (olaparib)

LYNPARZA is a first-in-class PARP inhibitor and the first targeted treatment to potentially exploit DNA damage response (DDR) pathway deficiencies, such as BRCA mutations, to preferentially kill cancer cells. Inhibition of PARP with LYNPARZA leads to the trapping of PARP bound to DNA single-strand breaks, stalling of replication forks, their collapse and the generation of DNA double-strand breaks and cancer cell death. LYNPARZA is being tested in a range of tumor types with defects and dependencies in the DDR.

LYNPARZA, which is being jointly developed and commercialized by AstraZeneca and Merck, has a broad and advanced clinical trial development program, and AstraZeneca and Merck are working together to understand how it may affect multiple PARP-dependent tumors as a monotherapy and in combination across multiple cancer types.

About Metastatic Castration-Resistant Prostate Cancer

Prostate cancer is the second most common cancer in men and is associated with a significant mortality rate. Development of prostate cancer is often driven by male sex hormones called androgens, including testosterone. In patients with mCRPC, their prostate cancer grows and spreads to other parts of the body, despite the use of androgen-deprivation therapy to block the action of male sex hormones. Approximately 10-20% of men with advanced prostate cancer are estimated to develop CRPC within five years, and at least 84% of these men may develop metastases at the time of CRPC diagnosis. Of men with no metastases at CRPC diagnosis, 33% are likely to develop metastases within two years.

About the AstraZeneca and Merck Strategic Oncology Collaboration

In July 2017, AstraZeneca and Merck, known as MSD outside the United States and Canada, announced a global strategic oncology collaboration to co-develop and co-commercialize certain oncology products including LYNPARZA, the world’s first PARP inhibitor, for multiple cancer types. Working together, the companies will develop these products in combination with other potential new medicines and as monotherapies. Independently, the companies will develop these oncology products in combination with their respective PD-L1 and PD-1 medicines.

Merck’s Focus on Cancer

Our goal is to translate breakthrough science into innovative oncology medicines to help people with cancer worldwide. At Merck, the potential to bring new hope to people with cancer drives our purpose and supporting accessibility to our cancer medicines is our commitment. As part of our focus on cancer, Merck is committed to exploring the potential of immuno-oncology with one of the largest development programs in the industry across more than 30 tumor types. We also continue to strengthen our portfolio through strategic acquisitions and are prioritizing the development of several promising oncology candidates with the potential to improve the treatment of advanced cancers. For more information about our oncology clinical trials, visit www.merck.com/clinicaltrials.

About Merck

For over 130 years, Merck, known as MSD outside of the United States and Canada, has been inventing for life, bringing forward medicines and vaccines for many of the world’s most challenging diseases in pursuit of our mission to save and improve lives. We demonstrate our commitment to patients and population health by increasing access to health care through far-reaching policies, programs and partnerships. Today, Merck continues to be at the forefront of research to prevent and treat diseases that threaten people and animals – including cancer, infectious diseases such as HIV and Ebola, and emerging animal diseases – as we aspire to be the premier research-intensive biopharmaceutical company in the world. For more information, visit www.merck.com and connect with us on Twitter, Facebook, Instagram, YouTube and LinkedIn.

Forward-Looking Statement of Merck & Co., Inc., Kenilworth, N.J., USA

This news release of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline products that the products will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

Contacts

Media:

Melissa Moody

(215) 407-3536

Justine Moore

(908) 740-6449

Investors:

Peter Dannenbaum

(908) 740-1037

Raychel Kruper

(908) 740-2107

Read full story here

Categories
Business Entertainment News

Faire La Fête expands distribution footprint

The Authentic French Sparkling Wine Brand Grows to New Jersey, Florida, Massachusetts and more

 

LOS ANGELES — (BUSINESS WIRE) — First Growth Brands, a builder of brands and importer of unique, premium, authentic wines from Europe, will expand it’s regional footprint of the company’s flagship brand, Faire La Fête, the authentic French sparkling wine.

 

Already distributed in 26 states across the country, Faire La Fête will now be sold in six new markets beginning on October 1st; including New Jersey with Allied Beverage Group, Massachusetts and Rhode Island with Horizon Beverage, Connecticut with Brescome Barton plus Florida and Indiana with Southern Glazers.


Additionally, with Faire La Fête’s rapid growth in the New York market, the brand will be moving to the Emerald Division of Southern Glazers, plus participating in the New York Food & Wine Festival on October 15th.

 

“We are delighted with the successful expansion for Faire La Fête in the key ‘sparkling wine’ markets,” said Chris Siconolfi, Senior Vice President of Sales. “Our goal is to build the brand into a strong player and leader in the French Sparkling wine category.”

 

Faire La Fête is the vibrant sparkler that rivals all non-vintage Champagne brands for 1/3 of the price. Developed in Limoux, France, the village that discovered, and first produced sparkling wine in 1531, Faire La Fête is hand harvested by 8th generation families and aged for up to 24 months, longer than similar Champagnes that cost $50 or more a bottle. Faire la Fête is a “champagne for all” with a $20 price point.

Contacts

Caitlin Kelly Caitlin@caitlinkelly-nyc.com

Categories
Business Technology

Gupshup acquires leading RCS platform, Dotgo

Acquisition propels Gupshup into global leadership in RCS (Rich Communications Services), solidifying its IP-based conversational messaging platform.

Dotgo will also help Gupshup accelerate growth into Africa.

 

SAN FRANCISCO & BERKELEY HEIGHTS, N.J. — (BUSINESS WIRE) — Gupshup, the leader in conversational messaging, today announced that it has acquired New Jersey based Dotgo. Dotgo is the global industry leader in RCS business messaging (RBM), with award-winning technologies such as the RichOTP®, RichSMS™, Bot Store®, and MaaP (Messaging as a Platform) that foster the growth of RCS Business Messaging. A strong partner of Google, Mavenir, Synchronoss, Vodafone, and Orange, Dotgo manages RBM in several markets, and operates the world’s largest RBM Hub with global connectivity to RCS users across the world. Dotgo is uniquely positioned to help brands integrate, with simple APIs, the RCS channel into their customer communications, whether for sales, support, services, or other business processes.

Dotgo, powered by a founding team with a rich history of tech innovation, is a Cohort 6 graduate of the IIT Startups accelerator. Dotgo grew rapidly in 2021 as RCS gained traction in North America, Europe, India, Brazil, and Nigeria. Dotgo’s MaaP, offered in partnership with, and pre-integrated with, Google Jibe platform, has been selected to operate RCS business messaging at several mobile operators. Dotgo has been a leading contributor at the Mobile Ecosystem Forum and GSMA in defining standards and processes for RCS business messaging.

Dotgo will significantly strengthen Gupshup’s conversational messaging platform that enables businesses and developers to build rich customer experiences. Gupshup also plans to leverage Dotgo’s strong experience and presence in Africa to expand there.

“Conversational experiences are becoming the key to business-customer interactions, and the RCS messaging channel is a critical enabler,” said Beerud Sheth, co-founder and CEO, Gupshup. “Dotgo’s product innovation, market traction, and thought leadership in the RCS ecosystem is truly impressive. Together, we’ll be able to offer a broader range of conversational messaging solutions to businesses and developers. We are excited to welcome them to the Gupshup family.”

Inderpal Singh Mumick, co-founder and CEO of Dotgo, said, “RCS business messaging is destined to change the way businesses communicate with their customers. We started Dotgo to create APIs that make it easy for brands and other players in the ecosystem to adopt RCS, while taking care of and hiding all the backend complexity from our customers. With the addition of RCS, Gupshup will undoubtedly be the strongest IP messaging company, and thus helps us accelerate our mission.”

Johanna Kollar, Partnerships Lead, Communication Products, Google, said, “We congratulate Dotgo and Gupshup on this acquisition. We have worked closely with Dotgo, and are very impressed by the quality of their products and services. We look forward to growing our relationship as the Dotgo team becomes a part of Gupshup.”

“The Dotgo team members were visionaries in recognizing the potential of RCS at a time when it had little adoption. We congratulate them on building industry leading products that are being adopted by customers across the world, just as RCS is taking off. Their bet proved prescient, and combining with an exceptional company like Gupshup will create a far stronger value proposition in the market,” said Naren Gupta, Managing Director, Nexus Venture Partners.

RCS will be a key messaging channel in Gupshup’s Conversational Messaging Platform, supplementing 30 other messaging channels available to customers via Gupshup’s Single API for messaging. RCS, a part of the 5G standard, is the next generation of SMS that includes pictures, audio, video, and presence, combined with enhanced security and encryption. RCS messages are delivered to native messaging apps such as Google Business Messages and Samsung Messages on Android phones. RCS Business Messaging uses the rich and interactive features of RCS to enable branded and secure business messaging. RCS is available globally with over 600M monthly active users, including about 20% of India’s smartphone users.

About Dotgo

Dotgo®, a global leader in RCS, is building the APIs and cloud platforms needed in a world where every business must have a presence inside messaging apps, just as they have web sites and smartphone apps. Dotgo’s APIs and services enable brands and developers to build conversational experiences that transform customer interactions, and help mobile operators to launch, manage, and monetize RCS business messaging. Dotgo is the provider of the Dotgo Bot Store®, world’s first and largest directory of RCS and WhatsApp bots, Dotgo MaaP, RichOTP®, RichSMS™, and the RBM Hub. Dotgo is a Google partner, a WhatsApp Business Solution Provider, and a member of the Mobile Ecosystem Forum. For more information, visit www.dotgo.com. Bot Store, Dotgo, and RichOTP are registered trademarks of Dotgo Systems Inc. in USA and other jurisdictions.

About Gupshup

Gupshup enables better customer engagement through conversational messaging. Gupshup is the leading conversational messaging platform, powering over 6 billion messages per month. Across verticals, thousands of large and small businesses in emerging markets use Gupshup to build conversational experiences across marketing, sales and support. Gupshup’s carrier-grade platform provides a single messaging API for 30+ channels, a rich conversational experience-building tool kit for any use case and a network of emerging market partnerships across messaging channels, device manufacturers, ISVs and operators. With Gupshup, businesses have made conversations an integral part of their customer engagement success. Gupshup is present in India, LATAM, South East Asia, Middle East, Eastern Europe, Africa and the United States. Visit www.gupshup.io. Converse with the Gupshup bot.

Contacts

Press
Richard Laermer

RLM PR | gupshup@rlmpr.com | (212) 741-5106 x 216

Categories
Healthcare Science

Raise breast cancer awareness at Ladies Night Out Events at ImageCare Radiology’s new locations

MORRISTOWN, N.J. — (BUSINESS WIRE) — #BreastCancerawareness–ImageCare Radiology is hosting Ladies Night Out Events on Sept 29 & Sept 30 from 4pm-8pm to announce the opening of 2 new locations and to celebrate Breast Cancer Awareness month in style. Attendees at the Woodbridge and Middletown locations will enjoy free activities such as manicures, tarot card readings, etc. as they meet other health professionals and learn about ImageCare’s new 3D Mammography with Profound AI® (Artificial Intelligence) which is the latest technology in breast cancer detection.


ImageCare Radiology invites all doctors and doctor’s office employees to enjoy free food & drink at their new full medical diagnostic imaging facilities in Woodbridge and Middletown. There will be 3 baskets raffled off at each location worth over $200 filled with items including a Massage Envy gift card, Turkish towels, Starbucks gift cards and much more. Please contact out office at info@imagecarecenters.com to get free raffle tickets to enter.

“We are excited to announce ImageCare Radiology’s new PINK Breast Centers in Middletown and Woodbridge. We strongly believe in women taking control of their health and giving them the best opportunity to do so,” says Dr. Richard Snellings, Managing Partner at ImageCare Radiology. “All our 3D mammograms are read with ProFound AI® (Artificial Intelligence), a new FDA cleared software, that is a breakthrough in women’s health. Ladies Night Out is a great way to build meaningful relationships in the area while introducing our new women’s health initiative.“

Woodbridge Location:

Date: Wed. Sept. 29

Time: 4pm-8pm

Address: 77 Queen Road, Iselin NJ

Middletown location:

Date: Thurs. Sept. 30

Time: 4pm-8pm

Address: 1275 Route 35 N, Middletown NJ

For rain date information, visit www.ImageCareCenters.com/about-us/community-involvement.

About ImageCare Radiology

ImageCare Radiology is committed to providing the most advanced medical diagnostic imaging to their patients, so they are comfortable and at ease. With their caring and compassionate staff, and team of skilled radiologists, they offer a wide array of State-of the-Art Radiology services including Open and Closed MRIs, Sedation MRIs, CT scans, Ultrasounds, X-rays, DEXA Bone Density Scans, 3D Mammograms with Artificial Intelligence, Pediatric Radiology and PET/CT scans. ImageCare has centers conveniently located throughout North and Central New Jersey in Bergen, Essex, Hunterdon, Middlesex, Monmouth, Morris, Passaic, Sussex, and Warren Counties.

For more information, please visit www.imagecarecenters.com.

Contacts

Tim Dwyre, Director of Marketing

tdwyre@imagecarecenters.com
95 Madison Ave | Morristown, NJ 07960

(973) 723-1696