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Business Science

Bayer strengthens company’s government and industry affairs group in key U.S. market with two appointments

Michael Parrish Named Vice President of Public Affairs, Science and Sustainability in the U.S.

Duane Simpson Named Vice President of North America Crop Science Public Affairs, Science and Sustainability

 

WHIPPANY, N.J. — (BUSINESS WIRE) — Bayer today announced the appointment of Michael Parrish to the position of Vice President of Public Affairs, Science and Sustainability, U.S. Parrish has served as the interim lead of U.S. Public Affairs since April 2021, following the function’s formation. In this new role, he will be responsible for driving a unified organization and strategy, including oversight of the company’s U.S. Government Relations, Policy and Corporate Engagement teams.


To continue to align and unify our efforts with policymakers at the state and federal levels, government relations for Crop Science will now shift to the U.S. Public Affairs, Science and Sustainability team, bringing our three divisional government affairs efforts to one team representing Bayer. In this capacity, the company has promoted Duane Simpson to Vice President of the North America Crop Science Public Affairs, Science and Sustainability Team. Simpson and his team will be responsible for engaging with key federal and state agencies, as well as industry and trade associations, that help govern the technologies that farmers use and support the growth of the U.S. and Canadian agriculture sectors.

 

Parrish will continue to report to Patrick Lockwood-Taylor, President of Bayer U.S., and serve as a member of the U.S. Country Leadership Team, as well as the Global Public Affairs Leadership Team reporting to Matthias Berninger, Senior Vice President, Public Affairs and Sustainability. Simpson will report to Jacqueline Applegate, President, North America Crop Science, and continue to be a part of the Crop Science North American Leadership Team.

 

“As a top U.S. life sciences company, we remain focused on using our science-based innovation for better lives, and leading with heart, to make our vision of ‘Health for All, Hunger for None’ a reality for generations to come,” said Patrick Lockwood-Taylor, President of Bayer U.S. “These appointments recognize the tremendous success both Michael Parrish and Duane Simpson have already brought to Bayer. Under their leadership, the organization will continue to build and strengthen relationships with policymakers and key stakeholders that are essential to advancing our growth and value – and our success – in the company’s most important market.”

 

Parrish brings a wealth of experience to the role, with more than 20 years in government service and government relations in corporate settings, working with elected officials, and various roles held at the U.S. Department of State and Department of Justice. Simpson has nearly 30 years of experience in political campaigns, state government, trade associations, industry affairs and government affairs at both the state and federal level.

 

Parrish and Simpson assume their new responsibilities effective March 1, 2022.

 

Bayer: Science For A Better Life

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.us.

 

Bayer U.S. Social Media Channels: Facebook / Twitter / Instagram

Bayer® and the Bayer Cross® are registered trademarks of Bayer.

 

Forward-Looking Statements

This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Contacts

Nicole Hayes, Bayer U.S.

Nicole.Hayes@bayer.com
201-421-5268

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Business Local News

U.S. Food and Drug Administration approves Opdivo® (nivolumab) with chemotherapy as neoadjuvant treatment for certain adult patients with resectable non-small cell lung cancer

Approval marks the first-and-only immunotherapy-based treatment for use before surgery for non-small cell lung cancer1

In the Phase 3 CheckMate -816 trial, Opdivo plus platinum-doublet chemotherapy significantly improved event-free survival and pathologic complete response compared to platinum-doublet chemotherapy alone1

Opdivo-based combinations now approved in both metastatic and earlier stages of non-small cell lung cancer

 

PRINCETON, N.J. — (BUSINESS WIRE) — $BMY #BMSBristol Myers Squibb (NYSE: BMY) today announced that the U.S. Food and Drug Administration (FDA) approved Opdivo® (nivolumab) 360 mg (injection for intravenous use) in combination with platinum-doublet chemotherapy every three weeks for three cycles for adult patients with resectable (tumors ≥4 cm or node positive) non-small cell lung cancer (NSCLC) in the neoadjuvant setting.1 Opdivo plus chemotherapy is approved regardless of PD-L1 status.1 The approval is based on the CheckMate -816 trial, the first positive Phase 3 trial of an immunotherapy-based combination used before surgery for resectable NSCLC. The primary endpoints included event-free survival (EFS) and pathologic complete response (pCR), which were evaluated using independent blinded review, and an additional efficacy outcome measure was overall survival (OS).1 The study compared Opdivo plus platinum-doublet chemotherapy (n=179) to platinum-doublet chemotherapy alone (n=179).1

In the trial, when given before surgery, Opdivo plus chemotherapy showed a statistically significant improvement in EFS with a 37% reduction in the risk of progression, recurrence or death (Hazard Ratio [HR] 0.63; 95% Confidence Interval [CI]: 0.45 to 0.87; P=0.0052) compared to chemotherapy alone.1 Opdivo plus chemotherapy showed a median EFS of 31.6 months (95% CI: 30.2 to Not Reached [NR]) compared to 20.8 months for patients treated with chemotherapy alone (95% CI: 14.0 to 26.7).1 Additionally, 24% of patients treated with Opdivo plus chemotherapy achieved pCR (95% CI: 18.0 to 31.0), compared to 2.2% of patients treated with chemotherapy alone (95% CI: 0.6 to 5.6; estimated treatment difference 21.6; 95% CI: 15.1 to 28.2; P<0.0001).1 A prespecified interim analysis for OS resulted in a HR of 0.57 (95% CI: 0.38 to 0.87), which did not cross the boundary for statistical significance.1

 

“Given the rates of disease recurrence in patients with resectable NSCLC, additional treatment options are needed that can be given before surgery to help improve the chance of successful surgical treatment and support the goal of reducing the risk of cancer returning,” said Mark Awad, MD, PhD, CheckMate -816 study investigator and clinical director of the Lowe Center for Thoracic Oncology at Dana-Farber Cancer Institute.2,3 “The approval of nivolumab with platinum-doublet chemotherapy marks a turning point in how we treat resectable NSCLC and it enables us to use immunotherapy and chemotherapy as neoadjuvant treatment for patients before surgery. Today’s announcement reinforces the need to increase the rates of NSCLC screening and early detection, and for patients to discuss treatment options with their providers.”1

 

Opdivo is associated with the following Warnings & Precautions: severe and fatal immune-mediated adverse reactions including pneumonitis, colitis, hepatitis and hepatotoxicity, endocrinopathies, dermatologic adverse reactions, nephritis with renal dysfunction, other immune-mediated adverse reactions; infusion-related reactions; complications of allogeneic hematopoietic stem cell transplantation (HSCT); embryo-fetal toxicity; and increased mortality in patients with multiple myeloma when Opdivo is added to a thalidomide analogue and dexamethasone, which is not recommended outside of controlled clinical trials.1 Please see Important Safety Information below.

 

“At Bristol Myers Squibb, we are leading innovative science in the use of immunotherapy in earlier stages of cancer and are committed to bringing these options to patients,” said Adam Lenkowsky, senior vice president and general manager, U.S. Cardiovascular, Immunology and Oncology at Bristol Myers Squibb. “Today’s approval builds on that commitment and expands the role of Opdivo-based treatment in NSCLC, the most common form of lung cancer, so patients may benefit earlier in the course of their disease.”1,4

 

This application was approved under the FDA’s Real-Time Oncology Review (RTOR) pilot program, which aims to ensure that safe and effective treatments are available to patients as early as possible.5 The review was also conducted under the FDA’s Project Orbis initiative, which enabled concurrent review by the health authorities in Australia, Canada and the United Kingdom, where the application remains under review. The EFS data from the Phase 3 CheckMate -816 trial will be presented at the American Association for Cancer Research Annual Meeting 2022 in April.

 

About CheckMate -816

CheckMate -816 is a randomized, open label trial evaluating Opdivo plus platinum-doublet chemotherapy compared to chemotherapy alone as neoadjuvant treatment in adult patients with resectable non-small cell lung cancer, regardless of PD-L1 expression.1 The trial included patients with histologically confirmed Stage IB (≥4 cm), II or IIIA NSCLC (per the 7th edition American Joint Committee on Cancer/Union for International Cancer Control [AJCC/UICC] staging criteria), ECOG performance status 0 or 1, and measurable disease (per RECIST version 1.1).1 Patients with unresectable or metastatic NSCLC, known EGFR mutations or ALK translocations, Grade 2 or greater peripheral neuropathy, active autoimmune disease, or medical conditions requiring systemic immunosuppression were excluded from the study.1 For the primary analysis, 358 patients were randomized to receive either Opdivo 360 mg plus histology-based platinum doublet chemotherapy on the same day every three weeks for up to three cycles, or platinum doublet chemotherapy every three weeks for up to three cycles, followed by surgery.1

 

The primary endpoints of the trial were EFS determined by Blinded Independent Central Review (BICR) and pCR determined by Blinded Independent Pathology Review (BIPR).1 EFS is defined as the length of time from randomization to any of the following events: any progression of disease precluding surgery, progression, or recurrence of disease after surgery, or death due to any cause.1 In addition, pCR was defined as 0% residual viable tumor cells in both primary tumor and sampled lymph nodes as assessed by BIPR.1 Additional efficacy outcome measures included OS.1

 

Select Safety Profile from CheckMate -816 Study

Adverse reactions leading to the discontinuation of Opdivo plus platinum-doublet chemotherapy occurred in 10% of patients and 30% had at least one treatment withheld for an adverse reaction.1 Serious adverse reactions occurred in 30% of patients receiving Opdivo plus platinum-doublet chemotherapy.1 Serious adverse reactions in >2% of patients included pneumonia and vomiting.1 No fatal adverse reactions occurred in patients who received Opdivo in combination with platinum-doublet chemotherapy.1 The most common (>20%) adverse reactions were nausea (38%), constipation (34%), fatigue (26%), decreased appetite (20%), and rash (20%).1

 

About Lung Cancer

Lung cancer is the leading cause of cancer deaths in the United States.4 The two main types of lung cancer are non-small cell and small cell.4 Non-small cell lung cancer is the most common type of lung cancer and accounts for up to 84% of diagnoses.4 Surgery (resection) remains the standard of care for resectable NSCLC and while many patients with NSCLC are treated with surgery, between 30% to 55% of patients develop recurrence and die of their disease despite resection.2,3

 

INDICATIONS

OPDIVO® (nivolumab), in combination with platinum-doublet chemotherapy, is indicated as neoadjuvant treatment of adult patients with resectable (tumors ≥4 cm or node positive) non-small cell lung cancer (NSCLC).

 

OPDIVO® (nivolumab) is indicated for the adjuvant treatment of adult patients with melanoma with involvement of lymph nodes or metastatic disease who have undergone complete resection.

 

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the first-line treatment of adult patients with metastatic non-small cell lung cancer (NSCLC) whose tumors express PD-L1 (≥1%) as determined by an FDA-approved test, with no EGFR or ALK genomic tumor aberrations.

 

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab) and 2 cycles of platinum-doublet chemotherapy, is indicated for the first-line treatment of adult patients with metastatic or recurrent non-small cell lung cancer (NSCLC), with no EGFR or ALK genomic tumor aberrations.

 

OPDIVO® (nivolumab), as a single agent, is indicated for the adjuvant treatment of adult patients with urothelial carcinoma (UC) who are at high risk of recurrence after undergoing radical resection of UC.

 

OPDIVO® (nivolumab) is indicated for the adjuvant treatment of completely resected esophageal or gastroesophageal junction cancer with residual pathologic disease in adult patients who have received neoadjuvant chemoradiotherapy (CRT).

 

IMPORTANT SAFETY INFORMATION

Severe and Fatal Immune-Mediated Adverse Reactions

Immune-mediated adverse reactions listed herein may not include all possible severe and fatal immune-mediated adverse reactions.

Immune-mediated adverse reactions, which may be severe or fatal, can occur in any organ system or tissue. While immune-mediated adverse reactions usually manifest during treatment, they can also occur after discontinuation of OPDIVO or YERVOY. Early identification and management are essential to ensure safe use of OPDIVO and YERVOY. Monitor for signs and symptoms that may be clinical manifestations of underlying immune-mediated adverse reactions. Evaluate clinical chemistries including liver enzymes, creatinine, adrenocorticotropic hormone (ACTH) level, and thyroid function at baseline and periodically during treatment with OPDIVO and before each dose of YERVOY. In cases of suspected immune-mediated adverse reactions, initiate appropriate workup to exclude alternative etiologies, including infection. Institute medical management promptly, including specialty consultation as appropriate.

Withhold or permanently discontinue OPDIVO and YERVOY depending on severity (please see section 2 Dosage and Administration in the accompanying Full Prescribing Information). In general, if OPDIVO or YERVOY interruption or discontinuation is required, administer systemic corticosteroid therapy (1 to 2 mg/kg/day prednisone or equivalent) until improvement to Grade 1 or less. Upon improvement to Grade 1 or less, initiate corticosteroid taper and continue to taper over at least 1 month. Consider administration of other systemic immunosuppressants in patients whose immune-mediated adverse reactions are not controlled with corticosteroid therapy. Toxicity management guidelines for adverse reactions that do not necessarily require systemic steroids (e.g., endocrinopathies and dermatologic reactions) are discussed below.

Immune-Mediated Pneumonitis

OPDIVO and YERVOY can cause immune-mediated pneumonitis. The incidence of pneumonitis is higher in patients who have received prior thoracic radiation. In patients receiving OPDIVO monotherapy, immune- mediated pneumonitis occurred in 3.1% (61/1994) of patients, including Grade 4 (<0.1%), Grade 3 (0.9%), and Grade 2 (2.1%). In NSCLC patients receiving OPDIVO 3 mg/kg every 2 weeks with YERVOY 1 mg/kg every 6 weeks, immune-mediated pneumonitis occurred in 9% (50/576) of patients, including Grade 4 (0.5%), Grade 3 (3.5%), and Grade 2 (4.0%). Four patients (0.7%) died due to pneumonitis.

Immune-Mediated Colitis

OPDIVO and YERVOY can cause immune-mediated colitis, which may be fatal. A common symptom included in the definition of colitis was diarrhea. Cytomegalovirus (CMV) infection/reactivation has been reported in patients with corticosteroid-refractory immune-mediated colitis. In cases of corticosteroid-refractory colitis, consider repeating infectious workup to exclude alternative etiologies. In patients receiving OPDIVO monotherapy, immune-mediated colitis occurred in 2.9% (58/1994) of patients, including Grade 3 (1.7%) and Grade 2 (1%).

Immune-Mediated Hepatitis and Hepatotoxicity

OPDIVO and YERVOY can cause immune-mediated hepatitis. In patients receiving OPDIVO monotherapy, immune-mediated hepatitis occurred in 1.8% (35/1994) of patients, including Grade 4 (0.2%), Grade 3 (1.3%), and Grade 2 (0.4%).

Immune-Mediated Endocrinopathies

OPDIVO and YERVOY can cause primary or secondary adrenal insufficiency, immune-mediated hypophysitis, immune-mediated thyroid disorders, and Type 1 diabetes mellitus, which can present with diabetic ketoacidosis. Withhold OPDIVO and YERVOY depending on severity (please see section 2 Dosage and Administration in the accompanying Full Prescribing Information). For Grade 2 or higher adrenal insufficiency, initiate symptomatic treatment, including hormone replacement as clinically indicated. Hypophysitis can present with acute symptoms associated with mass effect such as headache, photophobia, or visual field defects. Hypophysitis can cause hypopituitarism; initiate hormone replacement as clinically indicated. Thyroiditis can present with or without endocrinopathy. Hypothyroidism can follow hyperthyroidism; initiate hormone replacement or medical management as clinically indicated. Monitor patients for hyperglycemia or other signs and symptoms of diabetes; initiate treatment with insulin as clinically indicated.

In patients receiving OPDIVO monotherapy, adrenal insufficiency occurred in 1% (20/1994), including Grade 3 (0.4%) and Grade 2 (0.6%).

In patients receiving OPDIVO monotherapy, hypophysitis occurred in 0.6% (12/1994) of patients, including Grade 3 (0.2%) and Grade 2 (0.3%).

In patients receiving OPDIVO monotherapy, thyroiditis occurred in 0.6% (12/1994) of patients, including Grade 2 (0.2%).

In patients receiving OPDIVO monotherapy, hyperthyroidism occurred in 2.7% (54/1994) of patients, including Grade 3 (<0.1%) and Grade 2 (1.2%).

In patients receiving OPDIVO monotherapy, hypothyroidism occurred in 8% (163/1994) of patients, including Grade 3 (0.2%) and Grade 2 (4.8%).

In patients receiving OPDIVO monotherapy, diabetes occurred in 0.9% (17/1994) of patients, including Grade 3 (0.4%) and Grade 2 (0.3%), and 2 cases of diabetic ketoacidosis.

Immune-Mediated Nephritis with Renal Dysfunction

OPDIVO and YERVOY can cause immune-mediated nephritis. In patients receiving OPDIVO monotherapy, immune-mediated nephritis and renal dysfunction occurred in 1.2% (23/1994) of patients, including Grade 4 (<0.1%), Grade 3 (0.5%), and Grade 2 (0.6%).

Immune-Mediated Dermatologic Adverse Reactions

OPDIVO can cause immune-mediated rash or dermatitis. Exfoliative dermatitis, including Stevens-Johnson syndrome (SJS), toxic epidermal necrolysis (TEN), and drug rash with eosinophilia and systemic symptoms (DRESS) has occurred with PD-1/PD-L1 blocking antibodies. Topical emollients and/or topical corticosteroids may be adequate to treat mild to moderate nonexfoliative rashes.

YERVOY can cause immune-mediated rash or dermatitis, including bullous and exfoliative dermatitis, SJS, TEN, and DRESS. Topical emollients and/or topical corticosteroids may be adequate to treat mild to moderate non- bullous/exfoliative rashes.

Withhold or permanently discontinue OPDIVO and YERVOY depending on severity (please see section 2 Dosage and Administration in the accompanying Full Prescribing Information).

In patients receiving OPDIVO monotherapy, immune-mediated rash occurred in 9% (171/1994) of patients, including Grade 3 (1.1%) and Grade 2 (2.2%).

Other Immune-Mediated Adverse Reactions

The following clinically significant immune-mediated adverse reactions occurred at an incidence of <1% (unless otherwise noted) in patients who received OPDIVO monotherapy or OPDIVO in combination with YERVOY or were reported with the use of other PD-1/PD-L1 blocking antibodies. Severe or fatal cases have been reported for some of these adverse reactions: cardiac/vascular: myocarditis, pericarditis, vasculitis; nervous system: meningitis, encephalitis, myelitis and demyelination, myasthenic syndrome/myasthenia gravis (including exacerbation), Guillain-Barré syndrome, nerve paresis, autoimmune neuropathy; ocular: uveitis, iritis, and other ocular inflammatory toxicities can occur; gastrointestinal: pancreatitis to include increases in serum amylase and lipase levels, gastritis, duodenitis; musculoskeletal and connective tissue: myositis/polymyositis, rhabdomyolysis, and associated sequelae including renal failure, arthritis, polymyalgia rheumatica; endocrine: hypoparathyroidism; other (hematologic/immune): hemolytic anemia, aplastic anemia, hemophagocytic lymphohistiocytosis (HLH), systemic inflammatory response syndrome, histiocytic necrotizing lymphadenitis (Kikuchi lymphadenitis), sarcoidosis, immune thrombocytopenic purpura, solid organ transplant rejection.

In addition to the immune-mediated adverse reactions listed above, across clinical trials of YERVOY monotherapy or in combination with OPDIVO, the following clinically significant immune-mediated adverse reactions, some with fatal outcome, occurred in <1% of patients unless otherwise specified: nervous system: autoimmune neuropathy (2%), myasthenic syndrome/myasthenia gravis, motor dysfunction; cardiovascular: angiopathy, temporal arteritis; ocular: blepharitis, episcleritis, orbital myositis, scleritis; gastrointestinal: pancreatitis (1.3%); other (hematologic/immune): conjunctivitis, cytopenias (2.5%), eosinophilia (2.1%), erythema multiforme, hypersensitivity vasculitis, neurosensory hypoacusis, psoriasis.

Some ocular IMAR cases can be associated with retinal detachment. Various grades of visual impairment, including blindness, can occur. If uveitis occurs in combination with other immune-mediated adverse reactions, consider a Vogt-Koyanagi-Harada–like syndrome, which has been observed in patients receiving OPDIVO and YERVOY, as this may require treatment with systemic corticosteroids to reduce the risk of permanent vision loss.

Infusion-Related Reactions

OPDIVO and YERVOY can cause severe infusion-related reactions. Discontinue OPDIVO and YERVOY in patients with severe (Grade 3) or life-threatening (Grade 4) infusion-related reactions. Interrupt or slow the rate of infusion in patients with mild (Grade 1) or moderate (Grade 2) infusion-related reactions. In patients receiving OPDIVO monotherapy as a 60-minute infusion, infusion-related reactions occurred in 6.4% (127/1994) of patients. In a separate trial in which patients received OPDIVO monotherapy as a 60-minute infusion or a 30- minute infusion, infusion-related reactions occurred in 2.2% (8/368) and 2.7% (10/369) of patients, respectively. Additionally, 0.5% (2/368) and 1.4% (5/369) of patients, respectively, experienced adverse reactions within 48 hours of infusion that led to dose delay, permanent discontinuation or withholding of OPDIVO.

Complications of Allogeneic Hematopoietic Stem Cell Transplantation

Fatal and other serious complications can occur in patients who receive allogeneic hematopoietic stem cell transplantation (HSCT) before or after being treated with OPDIVO or YERVOY. Transplant-related complications include hyperacute graft-versus-host-disease (GVHD), acute GVHD, chronic GVHD, hepatic veno-occlusive disease (VOD) after reduced intensity conditioning, and steroid-requiring febrile syndrome (without an identified infectious cause). These complications may occur despite intervening therapy between OPDIVO or YERVOY and allogeneic HSCT.

Follow patients closely for evidence of transplant-related complications and intervene promptly. Consider the benefit versus risks of treatment with OPDIVO and YERVOY prior to or after an allogeneic HSCT.

Embryo-Fetal Toxicity

Based on its mechanism of action and findings from animal studies, OPDIVO and YERVOY can cause fetal harm when administered to a pregnant woman. The effects of YERVOY are likely to be greater during the second and third trimesters of pregnancy. Advise pregnant women of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with OPDIVO and YERVOY and for at least 5 months after the last dose.

Increased Mortality in Patients with Multiple Myeloma when OPDIVO is Added to a Thalidomide Analogue and Dexamethasone

In randomized clinical trials in patients with multiple myeloma, the addition of OPDIVO to a thalidomide analogue plus dexamethasone resulted in increased mortality. Treatment of patients with multiple myeloma with a PD-1 or PD-L1 blocking antibody in combination with a thalidomide analogue plus dexamethasone is not recommended outside of controlled clinical trials.

Lactation

There are no data on the presence of OPDIVO or YERVOY in human milk, the effects on the breastfed child, or the effects on milk production. Because of the potential for serious adverse reactions in breastfed children, advise women not to breastfeed during treatment and for 5 months after the last dose.

Serious Adverse Reactions

In Checkmate 238, serious adverse reactions occurred in 18% of patients receiving OPDIVO (n=452). Grade 3 or 4 adverse reactions occurred in 25% of OPDIVO-treated patients (n=452). The most frequent Grade 3 and 4 adverse reactions reported in ≥2% of OPDIVO-treated patients were diarrhea and increased lipase and amylase. In Checkmate 816, serious adverse reactions occurred in 30% of patients (n=176) who were treated with OPDIVO in combination with platinum-doublet chemotherapy. Serious adverse reactions in >2% included pneumonia and vomiting. No fatal adverse reactions occurred in patients who received OPDIVO in combination with platinum-doublet chemotherapy. In Checkmate 227, serious adverse reactions occurred in 58% of patients (n=576). The most frequent (≥2%) serious adverse reactions were pneumonia, diarrhea/colitis, pneumonitis, hepatitis, pulmonary embolism, adrenal insufficiency, and hypophysitis. Fatal adverse reactions occurred in 1.7% of patients; these included events of pneumonitis (4 patients), myocarditis, acute kidney injury, shock, hyperglycemia, multi-system organ failure, and renal failure. In Checkmate 9LA, serious adverse reactions occurred in 57% of patients (n=358). The most frequent (>2%) serious adverse reactions were pneumonia, diarrhea, febrile neutropenia, anemia, acute kidney injury, musculoskeletal pain, dyspnea, pneumonitis, and respiratory failure. Fatal adverse reactions occurred in 7 (2%) patients, and included hepatic toxicity, acute renal failure, sepsis, pneumonitis, diarrhea with hypokalemia, and massive hemoptysis in the setting of thrombocytopenia. In Checkmate 274, serious adverse reactions occurred in 30% of patients receiving OPDIVO (n=351).

Contacts

Bristol Myers Squibb

Media Inquiries:
media@bms.com

Investors:
investor.relations@bms.com

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Categories
Business Lifestyle

Crumbl Cookies, the nation’s fastest-growing gourmet cookie company, to open in Clark, New Jersey

CLARK, N.J. — (BUSINESS WIRE) — Crumbl Cookies is set to open its very first North Jersey location at 1255 Raritan Road in the Clark Commons Shopping Center. Known for its weekly rotating menu, famous pink box, and passionate social media following, their highly anticipated Grand Opening is set for Friday, March 11th.


We are so excited to bring Crumbl to Clark, New Jersey and hope the local residents love these cookies as much as we do,” said Jason McGowan, Crumbl Co-founder & CEO. “We love the traditional flavors, but also like to surprise our customers with new and fun concepts. My personal favorite is the raspberry cheesecake cookie. Our cookies are great for sharing with family members and friends, and even treating yourself! We offer unique gifting and catering options as well.”

 

Inside every Crumbl store, staff members mix, bake, and prepare the cookies fresh in an open kitchen for all to see. Cookies are then packaged in Crumbl’s famous pink box and taken home to be enjoyed. “Having our customers see every cookie being made is one of the best experiences of our stores,” said Sawyer Hemsley, Crumbl Co-founder & COO. “Each ingredient is carefully chosen to provide customers with the highest quality cookie on the market.”

 

Clark, New Jersey’s Grand Opening week menu will contain 6 of the 120+ rotating weekly flavors Crumbl has to offer including Crumbl’s staple chilled sugar and award-winning milk chocolate chip. Cold milk and gourmet ice cream can also be added to any order.

 

Nothing beats biting into a warm, delicious cookie that you can enjoy whether delivery, curbside pickup, or in-store takeout,” said Earl Koskie, Clark Crumbl owner. “We’re really excited to bring this experience to the Clark community.”

 

Some of the Crumbl specialty cookies include: Cornbread, Cookies and Cream, S’Mores, Key Lime Pie, Peppermint Bark, Orange Roll, Buttermilk Pancake, Galaxy Brownie, and many, many more.

 

About Crumbl

Crumbl: It started with one big dream, two crazy cousins, and the perfect combination of flour, sugar, and chocolate chips. Crumbl was established in 2017 in Logan, Utah. Since that time, more than 300 additional locations have been built to satisfy cookie cravings in over 36 states across the nation!

 

Crumbl is rapidly expanding across the country with 100 additional locations slated to open in the coming year. Crumbl is open from 8-10pm on weekdays, 8am-midnight each Friday and Saturday and is closed on Sundays. Visit Crumbl online at crumblcookies.com, on social media, (@crumblcookies), or any of their 300+ locations. Order cookies online at crumblcookies.com.

Contacts

Earl Koskie

Clark Crumbl Cookies Franchise Owner

nj.clark@crumbl.com, (385) 985-8555

Categories
Business

Best’s Commentary: US Insurers’ Indirect Exposures to Russia may be significant

OLDWICK, N.J. — (BUSINESS WIRE) — The impact of the conflict between Russia and Ukraine on U.S. insurers’ direct investments to the two countries appears to be limited, as they have less than $2 billion bonds exposed to Russia and Ukraine. However, according to a new AM Best commentary, insurers’ indirect exposures may be more substantial.

In its Best’s Commentary, “US Insurers’ Indirect Exposures to Russia May Be Significant,” AM Best estimates that the largest exposure at any company is less than 2% of capital and surplus, with the vast majority of these bonds investment grade NAIC-2. The commentary notes that higher capital charges could result if the issues were to fall below investment grade for an extended period, depending on the duration of the conflict and other factors.

 

While U.S. insurers have little exposure to Russian companies in their stock portfolios, they do have exposures to companies that derive a share of earnings from Russia. “Indirect investments through suppliers and customers of U.S. and European companies may still be impacted, similarly to the already substantial impact on commodity and energy markets,” said Jason Hopper, associate director, industry research and analytics, AM Best.

 

With the worsening business operating environment in Russia, more companies have started discontinuing operations in the country; in addition, oil prices have spiked and with increased volatility in financial markets. The situation continues to unfold, making it too early to determine specific impacts, but the commentary notes that the markets can be expected to rebound as has been seen in other geopolitical crises.

 

To access the full copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=318039.

 

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

Jason Hopper
Associate Director,
Industry Research and Analytics

+1 908 439 2200, ext. 5016
jason.hopper@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

Jim Peavy
Director, Communications

+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business

AM Best withdraws Credit Ratings of INSURANCE COMPANY OF GAZ INDUSTRY SOGAZ

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has withdrawn the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of INSURANCE COMPANY OF GAZ INDUSTRY SOGAZ (SOGAZ) (Russia). At the time of the withdrawal, the Credit Ratings (ratings) were under review with negative implications.

AM Best has withdrawn the ratings for commercial reasons that include, but are not limited to, the sanctions imposed on SOGAZ. Please refer to AM Best Rating Services Guide to Best’s Credit Ratings available on our website, www.ambest.com

 

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

Anna Sheremeteva
Financial Analyst
+44 20 7397 4397
anna.sheremeteva@ambest.com

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

Catherine Thomas, CFA
Senior Director, Analytics
+44 20 7397 0281
catherine.thomas@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business

AM Best affirms credit ratings of Lumico Life Insurance Company and its affiliates

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Lumico Life Insurance Company (Jefferson City, MO) and Lumico Life Insurance Company of New York (Armonk, NY). Together, these two companies are referred to as Lumico Life, and are indirect subsidiaries of Swiss Re Ltd (Swiss Re). AM Best also has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of Elips Life Insurance Company (elipsLife) (headquartered in Schaumburg, IL). elipsLife is an indirect subsidiary of Swiss Re. The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Lumico Life’s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and very strong enterprise risk management, as the overall risk management program through Swiss Re is being leveraged throughout the whole organization. Furthermore, Lumico Life receives rating lift as it benefits from explicit parental support and is likely to receive future support, if needed, to grow operations. AM Best expects the group to continue to maintain its strategic importance to its parent in a supporting role of providing direct life insurance operations and receive rating enhancement.

 

Lumico Life’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), continues to be assessed at the strongest level as of year-end 2020, benefiting from its relatively conservative short-term investment portfolio for immediate liquidity needs and from very strong internal reinsurance support provided by Swiss Re, although the absolute level of capital remains modest. There are no formal financial guarantees extended to Lumico Life from Swiss Re, but the ultimate parent has made previous capital infusions into the company to support increased expenses and underwriting enhancements.

 

AM Best expects a mix of protection and health products to drive Lumico Life’s premium growth going forward, with the primary initial focus on simplified level term life insurance and Medicare supplement products, which are sold by a variety of distribution partners leveraging different sales channels. The company continues to build reserves and align appropriate assets to cover its liabilities. Overall product design and pricing stands will continue to benefit from Swiss Re’s extensive data and underwriting expertise. Lumico Life maintains a limited market position as it continues to grow, and has not yet reached the breakeven point in terms of earnings, but is expected to do so in the near future with revised projections.

 

The ratings of elipsLife reflect its balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and very strong enterprise risk management, as the overall risk management program through Swiss Re is being leveraged throughout the whole organization. Furthermore, elipsLife’s receives rating lift as it benefits from explicit parental support and is likely to receive future support, if needed, to grow operations. AM Best expects the group to continue to maintain its strategic importance to its parent in a supporting role of providing direct Medicare supplemental insurance while receiving rating enhancement.

 

Swiss Re implemented a change in strategy for elipsLife, placing its group life and health business into runoff as of the end of 2020. elipsLife has been integrated into the iptiQAmericas Inc. business model, eventually becoming a key player that will support the growth strategy. AM Best expects elipsLife to continue to benefit from a significant reinsurance agreement with Swiss Re. Another capital infusion was made by Swiss Re in 2021 to further support elipsLife’s business runoff costs and volatile market conditions.

 

Despite its limited business profile, elipsLife’s ratings reflect AM Best’s expectation that the company will execute on its business plan to become the primary writer of Medicare supplement insurance in support of Lumico Life’s retail initiative, while continuing to benefit from Swiss Re’s support. AM Best will continue to monitor elipsLife’s progress closely in the near future to ensure that targeted results are realized.

 

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

Igor Bass
Senior Financial Analyst
+1 908 439 2200, ext. 5109
igor.bass@ambest.com

Michael Porcelli
Senior Director
+1 908 439 2200, ext. 5548
michael.procelli@ambest.com

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

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business

Velo3D announces the appointment of Ellen Pawlikowski to Its board of directors

The Addition Brings Decades of Experience Working With Companies and Engineers in Aviation, Aerospace, and Defense to the Board


Company Also Announces the Planned Resignations of 4 Board Members Post the Successful Completion of Its Public Listing on the New York Stock Exchange

 

CAMPBELL, Calif. — (BUSINESS WIRE) — Velo3D, Inc. (NYSE: VLD), a leading metal additive manufacturing technology company for mission-critical parts, has strengthened its board of directors with the addition of General Ellen Pawlikowski, an experienced commander and board member with strong roots in the aviation, space, and defense industries. This background and her in-depth knowledge of customers’ needs will support the growth in adoption of Velo3D’s additive manufacturing technology within these critical industries.

 

Pawlikowski’s appointment to the board is effective March 15, 2022. Additionally, the 12-person board will decrease in size to nine members with the planned resignation of early company investors Ricardo Angel, Jory Bell, David Cowan, and Sven Strohband following the company’s successful completion of the public listing on The New York Stock Exchange.

 

In addition to being an accomplished leader, Pawlikowski is an engineer with experience in research, development, and testing and has a deep understanding of customer needs. Her business acumen coupled with technical expertise will help Velo3D during its period of rapid growth in adoption of its end-to-end metal additive manufacturing solution.

 

“The Velo3D team is focused on delivering real-world results and meeting the promises we’ve made to our customers, investors, partners, and employees, and Ellen’s track record shows she can help us meet our challenging goals to land and expand within critical industries and broaden the adoption of our additive manufacturing technology,” said Benny Buller, Velo3D CEO and Founder. “We’re honored to have Ellen join the board, and her extensive experience working with innovators and leading organizations will help us capitalize on the blue-ocean opportunity ahead of us. I am also immensely grateful for the contributions of Ricardo, Jory, David, and Sven to the board over the course of their service and for believing in the vision of Velo3D.”

 

Pawlikowski currently serves on the boards of Raytheon, SRI international, and Applied Research Associates. She served in the U.S. Air Force for 36 years and retired as a 4-star general. Her last assignment was as the Commander of the US Air Force Materiel Command.

 

“Velo3D is a critical tool to innovation in the aerospace, aviation, and defense industries, and I strongly believe that its technology can be transformative to its customers,” said Pawlikowski. “While it’s amazing to see how Velo3D is empowering customers to solve their biggest challenges today, I think that its additive manufacturing technology will be even more impactful on innovation in the future.”

 

Pawlikowski has a Ph.D. in Chemical Engineering from the University of California, Berkeley. She also has a B.S. in Chemical Engineering from the New Jersey Institute of Technology.

 

About Velo3D:

Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.

 

Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy, and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The end-to-end solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2021. For more information, please visit velo3d.com, or follow the company on LinkedIn or Twitter.

 

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 1996. The Company’s actual results may differ from its 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, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation 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.

 

VELO, VELO3D, SAPPHIRE, and INTELLIGENT FUSION, are registered trademarks of Velo3D, Inc.; and WITHOUT COMPROMISE, FLOW and ASSURE are trademarks of Velo3D, Inc. All Rights Reserved © Velo3D, Inc.

Contacts

Media Contact:
Velo3D

Dan Sorensen

dan.sorensen@velo3d.com

Investor Relations:
Bob Okunski, VP Investor Relations

investors@velo3d.com

Categories
Business

FRTek delivers the industry’s most flexible 5G smart repeaters

Industry’s first patented fiber cascading FRTek PrimAer smart repeaters powered by Movandi semiconductors and approved by top 5G operators

 

SAN JOSE, Calif. — (BUSINESS WIRE) — #5GMWC Barcelona – FRTek, a leading supplier of wireless, amplifier solutions and advanced repeater technologies to the mobile communications industry, today announced that it has entered an original equipment manufacturer (OEM) partnership with Movandi providing semiconductors and antenna modules for FRTek PrimAer’s smart repeaters in the 24/26 GHz (n258), 28 GHz (n257/n261) and 39 GHz (n260) spectrum bands. FRTek PrimAer smart repeaters with patented fiber cascading capabilities are being deployed today with global tier one 5G service providers including Verizon to deliver unprecedented 5G mmWave coverage.

FRTek’s PrimAer 28 GHz smart repeater was recently used at Qualcomm’s Snapdragon Tech Summit, November 30 – December 2, 2021 at the Fairmont Orchid Hotel located on the western side of Hawaii. Qualcomm released their Snapdragon® 8 GEN 1 Mobile Platform and demonstrated the industry’s first 8K HDR live video streaming using Snapdragon 8 powered reference smartphones in a video call that took place between Qualcomm President and CEO Cristiano Amon in Hawaii and Verizon CTO Kyle Malady in New Jersey. Click here to see the demonstration.

 

“The FRTek PrimAer 5G mmWave smart repeater family is the most innovative on the market with patented fiber cascading capabilities that enable service providers unequaled deployment versatility for fixed wireless access to residences and businesses and to extend outdoor and indoor range and coverage,” said Milla Woo, CEO and president at FRTek US, LLC. “Only with Movandi feature and performance innovation in 5G mmWave RF silicon technology solutions were we able to deliver the FRTek PrimAer family. We are excited to enable service providers to bring the 5G vision to life for their customers.”

 

Widespread deployment of FRTek PrimAer repeaters will extend 5G mmWave coverage to a broader range of customers who need reliable, high-speed internet access and 5G mobile service anywhere they are. FRTek PrimAer repeaters are designed to amplify 5G mmWave signals derived from nearby base stations and retransmit them to underserved areas. High-density areas, indoors or outdoors, especially those with multi-story buildings, stadiums, and shopping environments, will benefit from increased deployment of FRTek repeaters.

 

“Our collaboration with FRTek, and their expertise in the designing and manufacturing smart repeaters for 5G mmWave, helps to ensure that we’re able to meet the high-performance requirements of our mutual customers,” said Maryam Rofougaran, CEO and founder with Movandi. “We’re committed to driving innovation and helping mobile network operators scale 5G deployments economically by offering unmatched core semiconductor technology to ODMs and OEMs.”

 

The new FRTek PrimAer smart repeater portfolio are field proven and now support all global markets and licensed spectrum bands. The FRTek PrimAer repeaters use phased array modules including Movandi beamformers, up/down converters, PLL synthesizers, phased array antennas, algorithms, and software to bring the 5G high bandwidth and low latency vision to life.

 

FRTek’s PrimAer smart repeaters are 3GPP compliant and offer industry leading capabilities that reduce service provider deployment costs and time, while enhancing range and coverage for outdoor, indoor and outdoor-to-indoor applications such as urban densification, fixed wireless access, venue/campus coverage, office and residential indoor coverage, and private networking. Highlights include:

 

  • Patented fiber connectivity and cascading allows up to four smart repeaters to be daisy chained up to 600 meters apart providing great deployment flexibility. See video for details.
  • Cascading capability allows one donor unit to support multiple server units connected via fiber or over-the-air (OTA) enhancing deployment flexibility and enabling mmWave to be directed around obstacles.
  • Movandi BeamXR software defined beam networking (SDBN) enables remotely programmed beam forming and steering allowing continuous coverage optimization and reducing OPEX.
  • Donor units automatically find the best server, decodes the SSB, synchronizes TDD, and supports 38 dBm per polarization at 64 QAM with 45-degree azimuth and 45-degree elevation scan angles.
  • Single server units can support multiple beam patterns from narrow to wide beams depending on coverage objectives with 38 dBm per polarization at 64 QAM and programmable angle coverage of 30-degree azimuth and 15-degree elevation
  • Internal LTE modem enables remote operations and maintenance

 

Independent studies by Mobile Experts LLC, a leading industry analyst firm, have shown that smart repeaters can cut mmWave costs and deployment time in half solving the twin deployment problems of capital cost and time to market. Click here for the white paper.

 

About FRTek

Founded in 2000, FRTek (Fiber Radio Technologies) is a leading supplier of wireless and amplifier solutions with a strong track record of providing advanced repeater technology to the mobile communications industry. Headquartered in South Korea, FRTek is a global company with manufacturing facilities in South Korea and offices in Japan and the United States. FRTek’s wireless solutions include distributed antenna system (DAS) repeaters, interference cancellation system (ICS) repeaters, and RF repeaters for 5G mmWave, WCDMA and LTE networks. FRTek developed and tested Radio Unit’s for ORAN. In addition, FRTek is also actively engaged in wireless projects for the government sector. Learn more at frtek.com or follow us on Linkedin.

 

About Movandi

Movandi is a 5G and beyond RF semiconductor technology company enabling a hyperconnected world, broad 5G adoption and AI applications across multiple industries. Movandi has substantial intellectual property with 90 patents filed, and 60 patents issued in 5G RF semiconductors, algorithms and software. Our engineering innovation and know how optimizes 5G RF chipset performance, size and power efficiency, and dynamic beam forming and steering beam using intelligent algorithms, and software with cloud AI and ML. Founded in 2016 by former world-recognized Broadcom RF and SoC pioneers, the Movandi management team includes executives from Cisco, MediaTek, Qualcomm and Samsung. Movandi powered BeamXR smart repeater semiconductor modules solve difficult 5G engineering and economic challenges by speeding up extending range, enhancing coverage, and penetrating physical barriers in indoor, outdoor and mobile environments, and accelerating large-scale 5G commercialization by significantly reducing service provider capital investment and operating expenses. For more information, go to movandi.com or follow us on Linkedin or Twitter.

Contacts

Milla Woo

CEO

frtekglobal@frtek.com

Categories
Business

IMA Group continues national growth with acquisition of Amici Clinical Research

Newest acquisition adds two clinical trial sites to IMA’s clinical research network

 

TARRYTOWN, N.Y. — (BUSINESS WIRE) — The IMA Group (IMA) announced today the acquisition of Amici Clinical Research, a clinical trials company with two New Jersey sites in Raritan and Hoboken. Expanding IMA’s metro New York presence, Amici brings therapeutic expertise in fatty liver, cardiovascular, pulmonary, and neurologic diseases to IMA Clinical Research. The company also has extensive experience conducting endocrinology, dermatology, and vaccine studies, among the fastest-growing categories of clinical research today.

The acquisition of Amici expands IMA’s footprint in the Northeast and enhances its breadth of therapeutic coverage. It also adds to IMA’s growing clinical research network and more than 100 brick-and-mortar medical offices. The acquisition moves IMA a step closer to realizing its vision to reach people everywhere, as it partners with its sponsors on site-based, hybrid, and decentralized clinical trials.

 

Amici was founded in 2015 and is led by David Rodin, CEO, Robert Falcone, M.D., Chief Medical Officer, and Anthony Frisoli, M.D., Chief Business Development Officer. Rodin and Falcone will join the executive team of IMA Clinical Research, bringing over 55 years of combined experience in clinical care, research and drug development. Both previously held executive positions at Merck and Pfizer.

 

“We are very pleased to have David and Rob and the highly qualified team of Amici join our Clinical Research Division. Their extensive experience in clinical research and drug development, coupled with their deep industry knowledge, makes them a perfect fit for our executive team and staff as we accelerate the growth of our Clinical Research Division,” said Mark Weinberger, Ph.D., MPH, President and CEO of The IMA Group.

 

“This acquisition will enable Amici Clinical Research to provide an even higher level of service to a greater number of customers,” said Rodin. Falcone further commented that “IMA’s client-centric culture and vision, along with its complementary clinical strengths and impressive infrastructure, convinced David and me this was a perfect fit for our company and people.”

 

Financial terms for the two privately held companies were not disclosed. Amici Clinical Research will continue to operate under its current name. In addition to Rodin and Falcone, key leadership, investigators and staff will remain in place. Additional information regarding the capabilities of Amici Clinical Research can be found at www.amicicr.com.

 

About IMA Clinical Research:

IMA Clinical Research, a division of The IMA Group, is a physician-founded network of integrated clinical research sites specializing in Phase II-IV clinical trials in multiple therapeutic areas. With more than 100 sites in the IMA Clinical Trial Network, IMA Clinical Research has extensive capabilities to conduct site-based, hybrid and fully decentralized clinical trials that support the development of safe and effective new treatments. The Clinical Research Division offers access to new advances in pharmacology and biotechnology for research subjects, as well as a robust database of interested clinical trial participants for pharmaceutical and device sponsors. For more information, visit www.imaresearch.com or www.theIMAgroup.com.

Contacts

Brenna Harrington

Scott Public Relations

706-217-7809

Categories
Business

Iveric Bio reports inducement grants under Nasdaq listing rule 5635(c)(4)

PARSIPPANY, N.J. — (BUSINESS WIRE) — IVERIC bio, Inc. (NASDAQ: ISEE) today reported that on March 1, 2022, the Company granted equity-based awards pursuant to the Company’s 2019 Inducement Stock Incentive Plan to four newly-hired, non-executive employees. These inducement grants were approved by the Company’s compensation and talent strategy committee pursuant to a delegation by the Company’s board of directors and were made as a material inducement to each employee’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The inducement grants consisted of non-statutory stock options to purchase an aggregate of 72,000 shares of the Company’s common stock and an aggregate of 500 restricted stock units for shares of the Company’s common stock.

 

The stock options each have an exercise price of $16.10 per share, equal to the closing price of Iveric Bio’s common stock on March 1, 2022. The stock options each have a ten-year term and vest over four years, with 25% of the shares underlying each option vesting on March 1, 2023 and an additional 2.0833% of the shares underlying each option vesting at the end of each successive month thereafter. The grant of restricted stock units vests with respect to 100% of the shares underlying the applicable grant on September 1, 2022. The vesting of the grants is subject to the applicable employee’s continued service with the Company through the applicable vesting date. The inducement grants are subject to the terms and conditions of award agreements covering the grants and the Company’s 2019 Inducement Stock Incentive Plan.

 

Iveric Bio

Iveric Bio is a science-driven biopharmaceutical company focused on the discovery and development of novel treatments for retinal diseases with significant unmet medical needs. The Company is committed to having a positive impact on patients’ lives by delivering high-quality, safe and effective treatments designed to address debilitating retinal diseases including earlier stages of age-related macular degeneration. For more information on the Company, please visit www.ivericbio.com.

 

ISEE-G

Contacts

Investor / Media Contact:
Iveric Bio

Kathy Galante, 212-845-8231

Senior Vice President, Investor Relations

kathy.galante@ivericbio.com

Media Contact:
SmithSolve

Alex Van Rees, 973-442-1555 ext. 111

alex.vanrees@smithsolve.com