Categories
Business

AM Best downgrades Credit Ratings of Grange Insurance Group Members

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “bbb+” (Good) from “a-” (Excellent) of Grange Insurance Association and its fully reinsured subsidiary, Granwest Property & Casualty, collectively referred to as Grange Insurance Group (Grange). The outlook of these Credit Ratings (ratings) has been revised to stable from negative. Both companies are domiciled in Seattle, WA.

 

The ratings reflect Grange’s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management (ERM).

 

The downgrades reflect a business profile that has challenged underwriting performance and restricted surplus growth over a prolonged period of time. While the group writes in six states and several lines of business, concentrations exist as two states (Washington and California) represent nearly 80% of the portfolio with homeowners and personal auto being the dominant coverages provided. The group has reduced its exposure to wildfire losses substantially in recent years; however, the current book of business continues to limit surplus growth from core operations. Management continues to implement corrective actions in an effort to smooth prospective underwriting performance, which include rate increases, underwriting restrictions and emphasis on more profitable segments.

 

Grange’s overall balance sheet strength of very strong continues to be supported by the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), as well as key metrics that do not materially deviate from composite averages. In prior years, the group reported an unfavorable trend of deficient reserve development; however, corrective actions were implemented to strengthen the reserve position, which led to consistent favorable development. The marginal operating performance reflects underwriting volatility, which has resulted in underwriting and operating performance metrics that trail the private passenger standard auto and homeowners composite. Performance has been impacted by severe events, such as wildfires and winter storms, which have ultimately restricted surplus growth over the past five years. AM Best views Grange’s ERM to be appropriate, with stress testing and capital modeling performed for the top risks of the organization.

 

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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Maxwell Gilberg
Financial Analyst
+1 908 439 2200, ext. 5684
maxwell.gilberg@ambest.com

Christopher Draghi
Director
+1 908 439 2200, ext. 5043
chris.draghi@ambest.com

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

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

Categories
Art & Life Digital - AI & Apps Lifestyle

Mike Crispi unafraid joins Salem Podcast Network

IRVING, Texas — (BUSINESS WIRE) — Salem Media Group, Inc. (NASDAQ: SALM) announced today that “Mike Crispi Unafraid” has officially joined the Salem Podcast Network beginning today, Jan. 9, 2023. The podcast, which launched in 2022, is hosted by Mike Crispi and will release one episode each weekday.

 

Crispi is an experienced television reporter, talk show host, and political operative throughout the Northeast. During the 2020 election, he provided live coverage of political rallies and grassroots conservative events on Right Side Broadcasting. In the last year, he has hosted one of the most popular live shows on Rumble. He has worked on multiple campaigns at both the state and federal levels, including his own Congressional campaign in New Jersey.

 

“It is a great honor to join forces with Salem Media,” Crispi said. “I have long admired their hosts, programming, and vision for the future of conservative media. This podcast has been a success since we started it last year, and I couldn’t think of a more genuine and authentic partner to help take it to the next level.”

 

“We’re excited to add Mike to our line-up,” said Marcus Brown, director of content strategy for the Salem Podcast Network. “He brings an enthusiasm and energy to our growing roster of young, conservative voices.”

 

The Salem Podcast network launched in January 2021 and is ranked as the 11th most listened to podcast network on the Triton Digital platform, with over 17 million average downloads per month.

 

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary, and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.

Contacts

Evan D. Masyr

Executive Vice President and Chief Financial Officer

(805) 384-4512

evan@salemmedia.com

Categories
Business

AM Best downgrades Credit Ratings of California Insurance Company and its affiliates; revises Under Review Status to developing implications

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a-” (Excellent) from “a” (Excellent) of California Insurance Company (Foster City, CA), Continental Indemnity Company, Illinois Insurance Company, Texas Insurance Company (Dallas, TX), Pennsylvania Insurance Company, Oklahoma Property and Casualty Insurance Company (Oklahoma City, OK) and Florida Casualty Insurance Company (Sarasota, FL). All companies collectively are referred to as North American Casualty Group (NAC) and are domiciled in Santa Fe, NM, unless otherwise specified. Concurrently, AM Best has maintained the under review status on these Credit Ratings (ratings) and revised the implication status to developing from negative.

At the same time, AM Best has withdrawn the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Catlin Specialty Insurance Company (Catlin) (Oklahoma City, OK). At the time of the withdrawal, these ratings were under review with negative implications.

 

The ratings reflect NAC’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management (ERM).

 

The downgrade reflects a deterioration in NAC’s ERM assessment. This action is a result of increased scrutiny regarding the group’s risk management capabilities in relation various operational risks that have arose in recent years. Despite these concerns, the group’s balance sheet strength and operating performance continues to hold on a statutory basis. The under review with developing implications status will remain on the group’s ratings until the sufficient information becomes available to AM Best that will allow an updated evaluation of NAC’s ERM assessment.

 

AM Best has withdrawn the ratings of Catlin as the company is no longer a risk-bearing entity, nor is it part of any reinsurance or pooling agreement that would warrant rating support from another entity. AM Best currently does not conduct ratings on non-risk-bearing entities. If Catlin were to become a risk-bearing entity, the company would potentially be eligible to participate in AM Best’s interactive rating process.

 

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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Dan Hofmeister, CFA, FRM, CAIA
Senior Financial Analyst
+1 908 439 2200, ext. 5385
dan.hofmeister@ambest.com

Steven Chirico, CPA
Director
+1 908 439 2200, ext. 5087
steven.chirico@ambest.com

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

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

Categories
Business Lifestyle Technology

Brother International Corporation to showcase comprehensive retail solutions that power the front and back of store operation at NRF 2023

Solutions and hardware from the Brother ecosystem on display to bring visitors through an immersive retail front-of-house, warehouse, and back-office retail experience

 

NEW YORK — (BUSINESS WIRE) — #BarcodeLabel — Join Brother at NRF booth #3145, Jan. 14-17, at the Javits Center in New York City for demonstrations of labeling, printing, and customization technology built for how the retail space operates.

 

Brother Mobile Solutions and Brother International Corporation will feature customer-first technology that supports an automated workflow ecosystem throughout the retail environment. From gearmotors and warehouse, to back-office printing and solutions, to front store customization and personalization, Brother enables retail partners to provide an efficient process built to address each partner’s unique retail need and environment.


Presenting an immersive retail experience

Brother will take attendees through a fully immersive retail experience at NRF. Experts will showcase solutions that meet today’s needs with a full walkthrough of the omnichannel retail landscape. Real-time demonstrations of printer and labeling technology across various retail operations—in-store purchases, warehouse fulfillment, e-commerce and BOPIS orders, and back-office operations—will provide attendees the opportunity to explore the full spectrum of how Brother can help retail operations. Displaying for the first time at NRF, the Brother Home Appliance Division will showcase customized embroidery demonstrations in the retail ecosystem to create even more personalized experiences for customers as part of this immersive booth experience.

 

Technology for today’s challenges:

  • Agile pricing strategies: Updating prices on the sales floor is a key component of competitive pricing but one that takes up valuable associate time, especially in a tight labor market. See how the RuggedJet 3200, winner of the silver CStore Decisions Hot New Product of the Year Technology award, helps address this challenge with mobile printing on-demand.
  • Frictionless shopping experience: Clear, reliable barcode labels give retail customers a better shopping experience, especially with the rise of self-checkout technology. The Brother mobile and desktop printers create reliable labels to fit retailers’ needs.
  • Moving goods through the supply chain: Whether it’s goods moving from the warehouse to the store or reverse logistics to return product back to the manufacturer, high-quality shipping labels and reliable gearmotors for warehouse robots are critical to retailers. Brother offers a line of industrial and desktop printers that have solutions that fit retailers of any size, as well as gearmotors, a vital building block powering retail applications ranging from conveyors to warehouse robotics.
  • Fastest and Boldest Laser Output for Efficiency and Cost Saving: The recently announced Brother Workhorse MFC-L9670CDN multifunction printer provides the optimal performance and output, with a smaller footprint, made for the back office and corporate retail applications. This new series of economical Enterprise Color Laser printers can support any retail or business environment.
  • Customization and customer experience: Brother specialists will show solutions for a multitude of business needs with custom partnerships and integrations ensuring retailers give their customers a unique and seamless shopping experience, with a touch of personalization.

 

The right technology at the right time

Straight-forward labeling solutions are necessary across the retail front-of-house, back office and warehouse. “Giving employees the tools they need to be as efficient and productive as possible is a must in today’s shifting retail landscape,” said Ravi Panjwani, Vice President at Brother Mobile Solutions. “Brothers’ solutions support a seamless, omnichannel approach, and work to meet fast-paced demand through the automation of key tasks.”

 

“The Brother ecosystem for retail solutions and hardware continues to expand to fit the needs of and enhance our partners experiences both in-store and behind-the-scenes,” states Don Cummins, President, Brother International Corporation. “The way customers shop has evolved and we pride ourselves at Brother for being able to address the changing needs of our customers and partners. From customization with our embroidery machines, to the gears in our partner products enabling a smoother workflow, Brother is at your side to improve process efficiency in the fast-paced retail environment.”

 

For more information about the complete Brother retail ecosystem of solutions and hardware, visit Brother International Corporation and Brother Mobile Solutions.

 

About Brother Mobile Solutions

Brother Mobile Solutions, Inc., a wholly-owned subsidiary of Brother International Corporation, provides innovative mobile and desktop printing and industrial labeling solutions to field workforces and mobile enterprises. Brother International Corporation and its subsidiaries employ over 1,100 people in the Americas. For more information about Brother Mobile Solutions and its products, call (800) 543-6144, or visit www.brothermobilesolutions.com.

 

About Brother International Corporation

Brother International Corporation has earned its reputation as a premier provider of home office and business products, home appliances for the sewing and crafting enthusiast as well as industrial solutions that revolutionize the way we live and work. Brother International Corporation is a wholly owned subsidiary of Brother Industries Ltd. With worldwide sales exceeding $6 billion, this global manufacturer was started more than 100 years ago. Bridgewater, New Jersey is the corporate headquarters for Brother in the Americas. It has fully integrated sales, marketing services, manufacturing, research and development capabilities located in the U.S. In addition to its headquarters, Brother has facilities in California, Illinois and Tennessee, as well as subsidiaries in Canada, Brazil, Chile, Argentina, Peru and Mexico. For more information, visit www.brother.com.

Contacts

Molly Walsh

molly@outlookmarketingsrv.com

Categories
Business Healthcare Science

Otsuka and Lundbeck announce FDA acceptance and priority review of sNDA for Brexpiprazole for the treatment of agitation associated with alzheimer’s dementia

  • The supplemental new drug application (sNDA) for brexpiprazole in the treatment of agitation associated with Alzheimer’s dementia has been accepted and filed by the FDA under Priority review
  • The FDA target date (PDUFA date) for completion of the review is May 10, 2023
  • FDA is currently planning to hold a Psychopharmacologic Drugs Advisory Committee
  • If approved, brexpiprazole would be the first pharmacological treatment indicated for agitation in patients with Alzheimer’s dementia in the U.S.

 

PRINCETON, N.J. & DEERFIELD, Ill. — (BUSINESS WIRE) — Otsuka Pharmaceutical Co., Ltd. (Otsuka) and H. Lundbeck A/S (Lundbeck) announce the U.S. Food and Drug Administration (FDA) has determined that the supplementary New Drug Application (sNDA) for brexpiprazole for the use in the treatment of agitation associated with Alzheimer’s dementia (AAD) is sufficiently complete to permit a substantive review.

 

The FDA has assigned the application priority review and a Prescription Drug User Fee Act (PDUFA) target action date of May 10, 2023. The FDA also indicated that they are currently planning to hold a Psychopharmacologic Drugs Advisory Committee meeting to discuss the application.

 

The sNDA submission includes data from two positive clinical phase III studies that investigated the treatment of brexpiprazole in patients with AAD. Study 331-12-283 demonstrated brexpiprazole 2 mg/day was statistically superior to placebo for the primary endpoint of mean change in Cohen-Mansfield Agitation Inventory (CMAI) Total Score from baseline to Week 12 (p < 0.05). In Study 331-14-213, treatment with brexpiprazole 2 and 3 mg/day showed statistically significant improvement compared with placebo for the primary efficacy endpoint, the mean change in CMAI Total Score from baseline to Week 12 (p < 0.05).

 

“Agitation associated with Alzheimer’s dementia is complex and difficult to navigate for both patients and caregivers,” said John Kraus, M.D., Ph.D., executive vice president and chief medical officer, Otsuka Pharmaceutical Development & Commercialization, Inc. “New treatments in this area are desperately needed. Our commitment to patients is unwavering as we work to provide them and their caregivers with an option to help lessen the symptoms of agitation.”

 

“This milestone is important in our efforts to bring patients with Alzheimer’s dementia and their caregivers one step closer to having a potential treatment option that may address a major disabling neuropsychiatric symptom of the disease,” said Johan Luthman, executive vice president, Lundbeck Research & Development.

 

About Agitation in Alzheimer’s Dementia

Neuropsychiatric symptoms (NPS) of Alzheimer’s dementia, such as agitation are associated with poor caregiver outcomes, including reduced quality of life and poorer health.1-4

 

Agitation is a common neuropsychiatric symptom of Alzheimer’s dementia. It is reported in approximately 45 percent of patients with Alzheimer’s dementia and has a large impact on quality of life for the patients, family members, and caregivers.5-6 Agitation covers a large group of behaviors occurring in patients with Alzheimer’s dementia, and it is an excessive/inappropriate manifestation of “normal” human emotions and behaviors. Such behaviors include pacing, gesturing, profanity, shouting, shoving, and hitting.7

 

Symptoms of agitation are also a consistent predictor of nursing home admission in patients with dementia.8-10

 

About Brexpiprazole

Brexpiprazole was approved in the U.S. on July 10, 2015, as an adjunctive therapy to antidepressants in adults with major depressive disorder and as a treatment for schizophrenia in adults. Brexpiprazole was also approved in 2017 in Health Canada and by the EMA in Europe in 2018 for the treatment of schizophrenia.

 

Brexpiprazole was discovered by Otsuka and is being co-developed by Otsuka and Lundbeck. The mechanism of action of brexpiprazole is unknown, however the efficacy of brexpiprazole may be mediated through a combination of partial agonist activity at serotonin 5-HT1A and dopamine D2 receptors and antagonism at noradrenaline alpha1B/2C receptors and at serotonin 5-HT2A receptors. In addition, brexpiprazole is an antagonist at noradrenaline alpha 1a, 1b, 1d and 2c receptors and partial agonist activity at serotonin5-HT1A and dopamine D2 receptors all at pharmacologically relevant potencies.11-12

 

About H. Lundbeck A/S

Lundbeck is a global pharmaceutical company specialized in brain diseases. For more than 70 years, we have been at the forefront of neuroscience research. We are tirelessly dedicated to restoring brain health, so every person can be their best.

 

We are committed to fighting stigma and discrimination against people living with brain diseases and advocating for broader social acceptance of people with brain health conditions. Our research programs tackle some of the most complex challenges in neuroscience, and our pipeline is focused on bringing forward transformative treatments for brain diseases for which there are few, if any therapeutic options.

 

For additional information, we encourage you to visit our corporate site www.lundbeck.com and connect with us on Twitter at @Lundbeck and via LinkedIn.

 

About Otsuka

Otsuka Pharmaceutical Co., Ltd. is a global healthcare company with the corporate philosophy: Otsuka–people creating new products for better health worldwide. Otsuka researches, develops, manufactures, and markets innovative products, with a focus on pharmaceutical products to meet unmet medical needs and nutraceutical products for the maintenance of everyday health.

 

In pharmaceuticals, Otsuka is a leader in the challenging areas of mental, renal, and cardiovascular health and has additional research programs in oncology and on several under-addressed diseases including tuberculosis, a significant global public health issue. These commitments illustrate how Otsuka is a “big venture” company at heart, applying a youthful spirit of creativity in everything it does.

 

Otsuka established a presence in the U.S. in 1973 and today its U.S. affiliates include Otsuka Pharmaceutical Development & Commercialization, Inc. (OPDC) and Otsuka America Pharmaceutical, Inc. (OAPI). These two companies’ 2,000 employees in the U.S. develop and commercialize medicines in the areas of mental health, nephrology, and cardiology, using cutting-edge technology to address unmet healthcare needs.

 

OPDC and OAPI are indirect subsidiaries of Otsuka Pharmaceutical Company, Ltd., which is a subsidiary of Otsuka Holdings Co., Ltd. headquartered in Tokyo, Japan. The Otsuka group of companies employed 47,000 people worldwide and had consolidated sales of approximately USD 13.6 billion in 2021.

 

All Otsuka stories start by taking the road less traveled. Learn more about Otsuka in the U.S. at www.otsuka-us.com and connect with us on LinkedIn and Twitter at @OtsukaUS. Otsuka Pharmaceutical Co., Ltd.’s global website is accessible at https://www.otsuka.co.jp/en/

 

Citations

1. Brodaty H, Hadzi-Pavlovic D. Psychosocial effects on carers of living with persons with dementia. Aust NZ J Psychiatry 1990; 24: 351–361

2. Kales HC et al. Assessment and management of behavioral and psychological symptoms of dementia. BMJ 2015; 350: h369

3. Karttunen K et al. Neuropsychiatric symptoms and quality of life in patients with very mild and mild Alzheimer’s disease. Int J Geriatr Psychiatry 2011; 26: 473–482

4. Brodaty H, Donkin M. Family caregivers of people with dementia. Dialogues Clin Neurosci 2009; 11: 217–228

5. Halpern R et al. Using electronic health records to estimate the prevalence of agitation in Alzheimer disease/dementia. Int J Geriatr Psychiatry 2019; 34: 420–431

6. Fillit H et al. Impact of agitation in long-term care residents with dementia in the United States. Int J Geriatr Psychiatry 2021; 36: 1959–1969

7. Cummings J et al. Agitation in cognitive disorders: International Psychogeriatric Association provisional consensus clinical and research definition. Int Psychogeriatr 2015; 27: 7–17

8. Gaugler JE et al. Predictors of nursing home admission for persons with dementia. Med Care 2009; 47: 191–198

9. Kales HC et al. Rates of clinical depression diagnosis, functional impairment, and nursing home placement in coexisting dementia and depression. Am J Geriatr Psychiatry 2005;13:441-449

10. Yaffe K et al. Patient and caregiver characteristics and nursing home placement in patients with dementia. JAMA 2002;287:2090 -2097

11. Maeda K, Sugino H, Akazawa H, et al. Brexpiprazole I: in vitro and in vivo characterization of a novel serotonin–dopamine activity modulator. J Pharmacol Exp Ther. 2014a;350(3):589–604.

12. Maeda K, Lerdrup L, Sugino H, et al. Brexpiprazole II: antipsychotic-like and procognitive effects of a novel serotonin–dopamine activity modulator. J Pharmacol Exp Ther. 2014b;350(3):605–614.

Contacts

Contacts for Media

Otsuka in the U.S.
Robert Murphy

Corporate Communications

Otsuka America Pharmaceutical, Inc.

robert.murphy@otsuka-us.com
+1 609 249 7262

Otsuka in Japan
Jeffrey Gilbert (Outside the US)

Leader, Pharmaceutical PR

Otsuka Pharmaceutical, Co., Ltd.

gilbert.jeffrey@otsuka.co.jp
+81 3 6361 7379

Lundbeck Contact for Media
Dyana Lescohier

Corporate Communications

Lundbeck US

dyle@lundbeck.com
+1 847 894 3586

Categories
Healthcare Lifestyle

Pinnacle Treatment Centers expands Ohio substance abuse treatment network with opening of Niles location

NILES, Ohio — (BUSINESS WIRE) — Pinnacle Treatment Centers, one of the largest methadone providers in the U.S. announced the opening of a new treatment center in Niles. The center will be Pinnacle’s 20th location in the Buckeye State.

 

Dedicated to helping adults struggling with substance use and addiction recovery, Niles Treatment Services will provide medication-assisted treatment through medications methadone and buprenorphine (Suboxone) as part of a thorough treatment program which includes individual, group, and family counseling. Patients will have access to other wrap around services like peer support and targeted case management.

 

“We understand that addiction affects multiple facets of a person’s life. While the physical stabilization through medication is key, that is just one weapon in our arsenal. While the medication takes care of the physical piece by helping with cravings, we can work in parallel to help restore the other areas affected by the disease through counseling, peer support, and case management” said Angelica Brewer, Niles’ Executive Director.

 

Peer support will provide patients with the encouragement to continue their personal development to develop the skills they need for long-term recovery. “Peer support is just one aspect of the wrap-around services we provide our patients. They have a unique ability to connect with, advocate for, and share experiences with people entering recovery. An often-overlooked aspect of successful recovery is a network of experts equipped with tools to support someone on their journey,” said Jennifer Morgenstern, Pinnacle Treatment Services Regional Director.

 

Trumbull County, where Niles is located, has one of the highest drug overdose death rates in the state. With Fentanyl on the rise, 2020 saw a death rate increase of 32% according to the Ohio Department of Health.

 

Multifaceted support and connection to community resources like housing, employment, education, and healthcare is at the forefront of case management efforts. “We have been reaching Ohioans through our network of treatment centers across every level of care, and we hope that those in need of services know that help is available.” said Brian Thorn, COO of Pinnacle Treatment Centers.

 

Niles Treatment Services accepts Medicaid, commercial insurance, and offers reasonable self-pay rates. The center is open Mondays through Fridays, 5:30 a.m. – 7p.m., and on Saturdays, 5:00 a.m.- 10 a.m. Individuals can call 234-544-3322 for a free, confidential assessment.

 

Pinnacle’s 20 addiction treatment centers in Ohio include:

  1. Akron Treatment Services
  2. Athens Treatment Services
  3. Brilliant Treatment Services
  4. Chillicothe Treatment Services
  5. Covedale Treatment Services
  6. Dayton Treatment Services
  7. Elyria Treatment Services
  8. Findlay Treatment Services
  9. Georgetown Treatment Services
  10. Hamilton Treatment Services
  11. Marion Treatment Services
  12. Milford Treatment Services
  13. Niles Treatment Services
  14. Recovery Works Columbus
  15. Recovery Works Portage
  16. Sandusky Treatment Services
  17. Springfield Treatment Services
  18. Toledo Treatment Services
  19. Youngstown Treatment Services
  20. Zanesville Treatment Services

 

About Pinnacle Treatment Centers

Headquartered in Mount Laurel, New Jersey, Pinnacle Treatment Centers is a recognized leader in comprehensive drug and alcohol addiction treatment serving more than 35,000 patients daily in California, Georgia, Indiana, Kentucky, North Carolina, New Jersey, Ohio, Pennsylvania, and Virginia. With more than 135 community-based locations, Pinnacle provides a full continuum of quality care including medically-monitored detoxification/withdrawal management, Acute psychiatric stabilization for individuals with co-occurring substance use and mental health (dual diagnosis) treatment., residential treatment, partial hospitalization, recovery residences, intensive and general outpatient programming, and outpatient medication-assisted treatment (MAT) for opioid use disorder. For more information, visit pinnacletreatment.com.

Contacts

Media:
Jules Czukor

Director of Marketing | Pinnacle Treatment Centers

215-630-5006 | jules.czukor@pinnacletreatment.com

Categories
Business Lifestyle

New Qi2 standard for wireless devices ensures enhanced consumer convenience and efficiency

Qi2 will lead to faster wireless charging and universal compatibility of handheld and mobile devices

LAS VEGAS — (BUSINESS WIRE) — The Wireless Power Consortium (WPC) will introduce a new wireless charging standard to unify the industry under one global standard and provide enhanced convenience and efficiency for mobile devices and wearables.

 

The Qi2 standard will be introduced later this year by the global consortium and will offer millions of consumers who rely on wireless charging a better user experience. The WPC is a global body dedicated to the creation of standards to ensure safe, efficient, and interoperable wireless charging and wireless power.

 

Consumers and retailers have been telling us they’re confused concerning what devices are Qi Certified and those that claim to work with Qi but are not Qi Certified. This confusion can lead to a poor user experience and even safety issues,” says Paul Struhsaker, executive director of the Wireless Power Consortium. “Our standard assures consumers that their devices are safe, efficient, and interoperable with other brands. Qi2 will be the global standard for wireless charging and provide consumers and retailers with that assurance.”

 

WPC member, Apple®, provided the basis for the new Qi2 standard building on its MagSafe® technology. Apple® and other WPC members developed the new Magnetic Power Profile, which is at the core of Qi2. Qi2’s Magnetic Power Profile will ensure that phones or other rechargeable battery-powered mobile products are perfectly aligned with charging devices, thus providing improved energy efficiency and faster charging.

 

The Qi2 (pronounced ‘chee two’) standard will replace its predecessor, Qi, in a rapidly expanding market where about one billion devices – transmitters and receivers – will be sold worldwide in 2023. The launch of the Qi2 standard will further expand the wireless charging market by opening the market to new accessories that wouldn’t be chargeable using current flat surface-to-flat surface devices.

 

Because of its improved efficiency and interoperability, Qi2 will enable faster charging for some devices, furthermore, it will pave the way for significant future increases in wireless charging speeds that are safe, and energy-efficient and won’t shorten battery life or damage a user’s phone.

 

Energy efficiency and sustainability are on everyone’s minds these days,” says Struhsaker. “Qi2’s perfect alignment improves energy efficiency by reducing the energy loss that can happen when the phone or the charger is not aligned. Just as important, Qi2 will greatly reduce the landfill waste associated with wired charger replacement due to plugs breaking and the stress placed on cords from daily connecting and disconnecting.”

 

Qi2 Certified mobile phones and chargers are expected to be available for the 2023 holiday season.

 

At CES

Learn more about Qi2 at the Wireless Power Consortium’s CES booth number 53529 on Level 2 of the Venetian Expo Center.

 

About the Wireless Power Consortium

The Wireless Power Consortium leads the world in ensuring consumers, retailers and manufacturers that they can rely on universal, interoperable standards and certifications for wireless devices. Through rigorous testing and certifications, the global body is dedicated to ensuring safe, efficient, and interoperable wireless charging and wireless power. The WPC’s nearly 400 member organizations established and support the current Qi standard and are developing standards for innovative new wireless power applications, including the Ki Cordless Kitchen.

Contacts

Paul Golden

paul.golden@wirelesspowerconsortium.com
+1 972-854-2616

Categories
Business Culture

Turnbridge Equities marks banner year of success with the sale of 738,000-sq.-ft. warehouse portfolio in Newark, NJ

Last-mile industrial facility appreciates by 46% over 19-month investment

 

NEW YORK — (BUSINESS WIRE) — Turnbridge Equities (Turnbridge), a real estate investment and development firm that invests in commercial and industrial opportunities in high-growth and high barrier-to-entry markets, in partnership with Long Wharf Capital (Long Wharf), has announced the sale of its 738,000-square-foot Newark Distribution Center, formerly known as the Ballantine Brewery Complex, a 19.4-acre portfolio of three infill industrial properties located in Newark, NJ.

 

As the former home of the P. Ballantine and Sons Brewing Company founded in 1840, the 100%-occupied property was purchased by Hines, a global real estate investment, development, and property manager. Turnbridge was represented by JLL in the transaction.


“We’re excited to complete the sale of the Newark Distribution Center to Hines,” said Ryan Nelson, managing principal at Turnbridge Equities.

 

“The sale was a great execution by the entire team, especially in the current and challenging market environment. The transaction speaks volumes about the quality of the real estate, the renovations Turnbridge completed, and the property’s strong tenancy. We’re very proud that during our investment, we completed an extensive renovation, brought the property to 100% occupancy, and realized value by selling off portions of the original property for self-storage and multi-family projects. This project had it all.”

 

Turnbridge and Long Wharf acquired the property in May 2021 for $92 million from a joint venture between Turnbridge and institutional investors advised by J.P. Morgan Asset Management. Upon acquisition, Turnbridge completed the last stages of a $13 million renovation of the Newark Distribution Center, which brought the older complex up to modern logistics standards. As a result of the renovation, the property is occupied by multiple tenants, including Iron Mountain, One Stop Logistics, and Worldpac, Inc., illustrating the property’s attractiveness to multiple tenants. In May 2022, Turnbridge and Long Wharf created and sold a subdivided portion of the property at 425 Ferry Street to Storage Blue for $8.25 million.

 

“We’re excited to have completed the successful repositioning and sale of this Class A industrial property in one of the strongest markets in the country with our partners at Turnbridge,” said Philip Murphy, Managing Director of Acquisitions at Long Wharf.

 

Located in the Ironbound district of Newark at 397-447 Ferry St., the property sits two miles from the Port of Newark and is conveniently positioned to serve consumers and businesses throughout the New York City Metropolitan Area. The property, situated within an Opportunity Zone, is among Turnbridge’s extensive portfolio of infill industrial and last-mile logistics centers. Hyper-focused on high barrier-to-entry markets, such as New York, New Jersey, and Washington D.C., Turnbridge invests in last-mile industrial properties that address a rapidly increasing demand for same-day deliveries and urban logistics. Other last-mile industrial investments of note within Turnbridge’s portfolio include Bronx Logistics Center, New York’s largest industrial development, and National Capital Business Park outside Washington, DC.

 

Photos of Turnbridge Equities’ Newark Distribution Center, along with headshots of Turnbridge Founder Andrew Joblon and Managing Partner Ryan Nelson can be found here.

 

About Turnbridge Equities

Founded in 2015 by Andrew Joblon, Turnbridge Equities is a vertically integrated real estate investment and development firm that brings a tenacious passion and fresh approach to the traditional real estate model. The firm pursues uniquely diversified investment strategies and a highly selective market entry process, leveraging more than 150 years of combined industry experience. With a firm commitment to environmental and social stewardship, Turnbridge Equities offers an unrivaled competitive advantage that creates long-term value for investors, occupants, and end users.

 

About Long Wharf Capital

Long Wharf Capital LLC is a Boston-based private equity real estate manager focused exclusively on value-added investments in the U.S. Formed in 2011, the firm invests on behalf of institutional clients including pension funds, endowments, foundations, and family offices. Long Wharf’s investment approach utilizes multiple value creation strategies to target opportunities across property sectors and U.S. markets. Since Long Wharf’s first fund in 2012, the team has invested over $1.2 billion of equity in more than 70 investments across the U.S. with an aggregated gross cost of $3.9 billion. For further information, visit: www.longwharf.com.

Contacts

Donna Haldipur

Marino

dhaldipur@marinopr.com
(424) 363-0848

Categories
Business Healthcare

Merck to present at the 41st Annual J.P. Morgan Healthcare Conference

RAHWAY, N.J. — (BUSINESS WIRE) — $MRK #MRK — Merck (NYSE: MRK), known as MSD outside of the United States and Canada, announced today that Robert M. Davis, chairman and chief executive officer, and Dr. Dean Y. Li, executive vice president and president, Merck Research Laboratories, are scheduled to participate in a fireside chat at the 41st Annual J.P. Morgan Healthcare Conference on Monday, Jan. 9, 2023, at 5:15 p.m. PT / 8:15 p.m. ET.

Investors, analysts, members of the media and the general public are invited to listen to a live audio webcast of the presentation at this weblink.

 

About Merck

At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. 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., Rahway, N.J., USA

This news release of Merck & Co., Inc., Rahway, 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. 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.

 

The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).

Contacts

Media Contacts:

Robert Josephson

(203) 914-2372

Michael Levey

(215) 872-1462

Investor Contacts:

Peter Dannenbaum

(908) 740-1037

Steven Graziano

(908) 740-6582

Categories
Business Science

Legend Biotech announces acceptance of its new drug application for Ciltacabtagene Autoleucel (Cilta-Cel) in China

SOMERSET, N.J. — (BUSINESS WIRE) — $LEGN — Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global biotechnology company developing, manufacturing and commercializing novel therapies to treat life-threatening diseases, announced today that China’s National Medical Products Administration (NMPA) has formally accepted its New Drug Application (NDA) for ciltacabtagene autoleucel (cilta-cel).

This submission is based on data from the confirmatory Phase 2 clinical study CARTIFAN-1 (NCT03758417) conducted in China, which evaluated the efficacy and safety of cilta-cel in adult patients with relapsed or refractory multiple myeloma who have received 3 or more prior lines of therapy, including a proteasome inhibitor and immunomodulatory drug.

 

Saijuan Chen, M.D., hematologist and molecular geneticist, Academician of the Chinese Academy of Engineering, and principal investigator of the CARTIFAN-1 clinical trial, said: “Incidence and mortality rates of multiple myeloma have recently increased in China, and the disease remains incurable. As a result, there is a huge unmet medical need for new treatment options. The data from the CARTIFAN-1 study showed that cilta-cel provided deep and durable responses in patients with relapsed or refractory multiple myeloma. We hope this drug becomes available to eligible patients as soon as possible.”

 

Ying Huang, Ph.D., Chief Executive Officer of Legend Biotech, said: “Meeting medical needs and serving patients around the world has always been the goal of Legend Biotech’s innovative research and development. Cilta-cel has been approved for marketing in the United States and Japan and has received conditional marketing authorization in Europe. We look forward to the possibility of providing a new treatment option for appropriate patients with relapsed and refractory multiple myeloma in China.”

 

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About Ciltacabtagene autoleucel (cilta-cel)

Ciltacabtagene autoleucel is a BCMA-directed, genetically modified autologous T-cell immunotherapy, which involves reprogramming a patient’s own T-cells with a transgene encoding a chimeric antigen receptor (CAR) that identifies and eliminates cells that express BCMA. BCMA is primarily expressed on the surface of malignant multiple myeloma B-lineage cells, as well as late-stage B-cells and plasma cells. The cilta-cel CAR protein features two BCMA-targeting single domain antibodies designed to confer high avidity against human BCMA. Upon binding to BCMA-expressing cells, the CAR promotes T-cell activation, expansion, and elimination of target cells.1

 

In December 2017, Legend Biotech Corporation entered into an exclusive worldwide license and collaboration agreement with Janssen Biotech, Inc. (Janssen) to develop and commercialize cilta-cel.

In February 2022, cilta-cel was approved by the U.S. Food and Drug Administration (FDA) under the brand name CARVYKTI® for the treatment of adults with relapsed or refractory multiple myeloma.2 In May 2022, the European Commission (EC) granted conditional marketing authorization of CARVYKTI® for the treatment of adults with relapsed and refractory multiple myeloma.3 In September 2022, Japan’s Ministry of Health, Labour and Welfare (MHLW) approved CARVYKTI®.4 Cilta-cel was granted Breakthrough Therapy Designation in the U.S. in December 2019 and in China in August 2020. In addition, cilta-cel received a PRIority MEdicines (PRIME) designation from the European Commission in April 2019. Cilta-cel also received Orphan Drug Designation from the U.S. FDA in February 2019, from the European Commission in February 2020, and from the Pharmaceuticals and Medicinal Devices Agency (PMDA) in Japan in June 2020. In March 2022, the European Medicines Agency’s Committee for Orphan Medicinal Products recommended by consensus that the orphan designation for cilta-cel be maintained on the basis of clinical data demonstrating improved and sustained complete response rates following treatment.5

 

About CARTIFAN-1

CARTIFAN-1 (NCT03758417)6 is a Phase 2 open-label, confirmatory trial evaluating the efficacy and safety of cilta-cel in Chinese patients with relapsed/refractory multiple myeloma who have received at least three prior lines of treatments including a proteasome inhibitor and immunomodulatory drug. The primary endpoint is overall response rate.

 

About Multiple Myeloma

Multiple myeloma is an incurable blood cancer that starts in the bone marrow and is characterized by an excessive proliferation of plasma cells.7 In 2022, it is estimated that more than 21,000 people will be diagnosed with multiple myeloma, and more than 16,000 people will die from the disease in China.8 While some patients with multiple myeloma have no symptoms at all, most patients are diagnosed due to symptoms that can include bone problems, low blood counts, calcium elevation, kidney problems or infections.9 Although treatment may result in remission, unfortunately, patients will most likely relapse.10 Patients who relapse after treatment with standard therapies, including protease inhibitors, immunomodulatory agents, and an anti-CD38 monoclonal antibody, have poor prognoses and few treatment options available.11,12

 

CARVYKTI® U.S. Important Safety Information

INDICATIONS AND USAGE

CARVYKTI® (ciltacabtagene autoleucel) is a B-cell maturation antigen (BCMA)-directed genetically modified autologous T cell immunotherapy indicated for the treatment of adult patients with relapsed or refractory multiple myeloma, after four or more prior lines of therapy, including a proteasome inhibitor, an immunomodulatory agent, and an anti-CD38 monoclonal antibody.

WARNING: CYTOKINE RELEASE SYNDROME, NEUROLOGIC TOXICITIES, HLH/MAS, and PROLONGED and RECURRENT CYTOPENIA

  • Cytokine Release Syndrome (CRS), including fatal or life-threatening reactions, occurred in patients following treatment with CARVYKTI®. Do not administer CARVYKTI® to patients with active infection or inflammatory disorders. Treat severe or life-threatening CRS with tocilizumab or tocilizumab and corticosteroids.
  • Immune Effector Cell-Associated Neurotoxicity Syndrome (ICANS), which may be fatal or life-threatening, occurred following treatment with CARVYKTI®, including before CRS onset, concurrently with CRS, after CRS resolution, or in the absence of CRS. Monitor for neurologic events after treatment with CARVYKTI®. Provide supportive care and/or corticosteroids as needed.
  • Parkinsonism and Guillain-Barré syndrome and their associated complications resulting in fatal or life-threatening reactions have occurred following treatment with CARVYKTI®.
  • Hemophagocytic Lymphohistiocytosis/Macrophage Activation Syndrome (HLH/MAS), including fatal and life-threatening reactions, occurred in patients following treatment with CARVYKTI®. HLH/MAS can occur with CRS or neurologic toxicities.
  • Prolonged and/or recurrent cytopenias with bleeding and infection and requirement for stem cell transplantation for hematopoietic recovery occurred following treatment with CARVYKTI®.
  • CARVYKTI® is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS) called the CARVYKTI® REMS Program.

 

WARNINGS AND PRECAUTIONS

Cytokine Release Syndrome (CRS) including fatal or life-threatening reactions, occurred following treatment with CARVYKTI® in 95% (92/97) of patients receiving ciltacabtagene autoleucel. Grade 3 or higher CRS (2019 ASTCT grade)1 occurred in 5% (5/97) of patients, with Grade 5 CRS reported in 1 patient. The median time to onset of CRS was 7 days (range: 1-12 days). The most common manifestations of CRS included pyrexia (100%), hypotension (43%), increased aspartate aminotransferase (AST) (22%), chills (15%), increased alanine aminotransferase (14%) and sinus tachycardia (11%). Grade 3 or higher events associated with CRS included increased AST and ALT, hyperbilirubinemia, hypotension, pyrexia, hypoxia, respiratory failure, acute kidney injury, disseminated intravascular coagulation, HLH/MAS, angina pectoris, supraventricular and ventricular tachycardia, malaise, myalgias, increased C-reactive protein, ferritin, blood alkaline phosphatase and gamma-glutamyl transferase.

Identify CRS based on clinical presentation. Evaluate for and treat other causes of fever, hypoxia, and hypotension. CRS has been reported to be associated with findings of HLH/MAS, and the physiology of the syndromes may overlap. HLH/MAS is a potentially life-threatening condition. In patients with progressive symptoms of CRS or refractory CRS despite treatment, evaluate for evidence of HLH/MAS.

Sixty-nine of 97 (71%) patients received tocilizumab and/or a corticosteroid for CRS after infusion of ciltacabtagene autoleucel. Forty-four (45%) patients received only tocilizumab, of whom 33 (34%) received a single dose and 11 (11%) received more than one dose; 24 patients (25%) received tocilizumab and a corticosteroid, and one patient (1%) received only corticosteroids. Ensure that a minimum of two doses of tocilizumab are available prior to infusion of CARVYKTI®.

Monitor patients at least daily for 10 days following CARVYKTI® infusion at a REMS-certified healthcare facility for signs and symptoms of CRS. Monitor patients for signs or symptoms of CRS for at least 4 weeks after infusion. At the first sign of CRS, immediately institute treatment with supportive care, tocilizumab, or tocilizumab and corticosteroids.

Counsel patients to seek immediate medical attention should signs or symptoms of CRS occur at any time.

Neurologic toxicities, which may be severe, life-threatening or fatal, occurred following treatment with CARVYKTI®. Neurologic toxicities included ICANS, neurologic toxicity with signs and symptoms of parkinsonism, Guillain-Barré Syndrome, peripheral neuropathies, and cranial nerve palsies. Counsel patients on the signs and symptoms of these neurologic toxicities, and on the delayed nature of onset of some of these toxicities. Instruct patients to seek immediate medical attention for further assessment and management if signs or symptoms of any of these neurologic toxicities occur at any time.

Overall, one or more subtypes of neurologic toxicity described below occurred following ciltacabtagene autoleucel in 26% (25/97) of patients, of which 11% (11/97) of patients experienced Grade 3 or higher events. These subtypes of neurologic toxicities were also observed in two ongoing studies.

Immune Effector Cell-Associated Neurotoxicity Syndrome (ICANS): ICANS occurred in 23% (22/97) of patients receiving ciltacabtagene autoleucel including Grade 3 or 4 events in 3% (3/97) and Grade 5 (fatal) events in 2% (2/97). The median time to onset of ICANS was 8 days (range 1-28 days). All 22 patients with ICANS had CRS. The most frequent (≥5%) manifestation of ICANS included encephalopathy (23%), aphasia (8%) and headache (6%).

Monitor patients at least daily for 10 days following CARVYKTI® infusion at the REMS-certified healthcare facility for signs and symptoms of ICANS. Rule out other causes of ICANS symptoms. Monitor patients for signs or symptoms of ICANS for at least 4 weeks after infusion and treat promptly. Neurologic toxicity should be managed with supportive care and/or corticosteroids as needed.

Parkinsonism: Of the 25 patients in the CARTITUDE-1 study experiencing any neurotoxicity, five male patients had neurologic toxicity with several signs and symptoms of parkinsonism, distinct from immune effector cell-associated neurotoxicity syndrome (ICANS). Neurologic toxicity with parkinsonism has been reported in other ongoing trials of ciltacabtagene autoleucel. Patients had parkinsonian and non-parkinsonian symptoms that included tremor, bradykinesia, involuntary movements, stereotypy, loss of spontaneous movements, masked facies, apathy, flat affect, fatigue, rigidity, psychomotor retardation, micrographia, dysgraphia, apraxia, lethargy, confusion, somnolence, loss of consciousness, delayed reflexes, hyperreflexia, memory loss, difficulty swallowing, bowel incontinence, falls, stooped posture, shuffling gait, muscle weakness and wasting, motor dysfunction, motor and sensory loss, akinetic mutism, and frontal lobe release signs. The median onset of parkinsonism in the 5 patients in CARTITUDE-1 was 43 days (range 15-108) from infusion of ciltacabtagene autoleucel.

Monitor patients for signs and symptoms of parkinsonism that may be delayed in onset and managed with supportive care measures. There is limited efficacy information with medications used for the treatment of Parkinson’s disease, for the improvement or resolution of parkinsonism symptoms following CARVYKTI® treatment.

Guillain-Barré Syndrome: A fatal outcome following Guillain-Barré Syndrome (GBS) has occurred in another ongoing study of ciltacabtagene autoleucel despite treatment with intravenous immunoglobulins. Symptoms reported include those consistent with Miller-Fisher variant of GBS, encephalopathy, motor weakness, speech disturbances and polyradiculoneuritis.

Monitor for GBS. Evaluate patients presenting with peripheral neuropathy for GBS. Consider treatment of GBS with supportive care measures and in conjunction with immunoglobulins and plasma exchange, depending on severity of GBS.

Peripheral Neuropathy: Six patients in CARTITUDE-1 developed peripheral neuropathy. These neuropathies presented as sensory, motor or sensorimotor neuropathies. Median time of onset of symptoms was 62 days (range 4-136 days), median duration of peripheral neuropathies was 256 days (range 2-465 days) including those with ongoing neuropathy. Patients who experienced peripheral neuropathy also experienced cranial nerve palsies or GBS in other ongoing trials of ciltacabtagene autoleucel.

Cranial Nerve Palsies: Three patients (3.1%) experienced cranial nerve palsies in CARTITUDE-1. All three patients had 7th cranial nerve palsy; one patient had 5th cranial nerve palsy as well. Median time to onset was 26 days (range 21-101 days) following infusion of ciltacabtagene autoleucel. Occurrence of 3rd and 6th cranial nerve palsy, bilateral 7th cranial nerve palsy, worsening of cranial nerve palsy after improvement, and occurrence of peripheral neuropathy in patients with cranial nerve palsy have also been reported in ongoing trials of ciltacabtagene autoleucel. Monitor patients for signs and symptoms of cranial nerve palsies. Consider management with systemic corticosteroids, depending on the severity and progression of signs and symptoms.

Hemophagocytic Lymphohistiocytosis (HLH)/Macrophage Activation Syndrome (MAS): Fatal HLH occurred in one patient (1%), 99 days after ciltacabtagene autoleucel. The HLH event was preceded by prolonged CRS lasting 97 days. The manifestations of HLH/MAS include hypotension, hypoxia with diffuse alveolar damage, coagulopathy, cytopenia, and multi-organ dysfunction, including renal dysfunction. HLH is a life-threatening condition with a high mortality rate if not recognized and treated early. Treatment of HLH/MAS should be administered per institutional standards.

CARVYKTI® REMS: Because of the risk of CRS and neurologic toxicities, CARVYKTI® is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS) called the CARVYKTI® REMS.

Further information is available at www.CARVYKTIrems.com or 1-844-672-0067.

Prolonged and Recurrent Cytopenias: Patients may exhibit prolonged and recurrent cytopenias following lymphodepleting chemotherapy and CARVYKTI® infusion. One patient underwent autologous stem cell therapy for hematopoietic reconstitution due to prolonged thrombocytopenia.

In CARTITUDE-1, 30% (29/97) of patients experienced prolonged Grade 3 or 4 neutropenia and 41% (40/97) of patients experienced prolonged Grade 3 or 4 thrombocytopenia that had not resolved by Day 30 following ciltacabtagene autoleucel infusion.

Recurrent Grade 3 or 4 neutropenia, thrombocytopenia, lymphopenia and anemia were seen in 63% (61/97), 18% (17/97), 60% (58/97), and 37% (36/97) after recovery from initial Grade 3 or 4 cytopenia following infusion. After Day 60 following ciltacabtagene autoleucel infusion, 31%, 12% and 6% of patients had a recurrence of Grade 3 or higher lymphopenia, neutropenia and thrombocytopenia, respectively, after initial recovery of their Grade 3 or 4 cytopenia. Eighty-seven percent (84/97) of patients had one, two, or three or more recurrences of Grade 3 or 4 cytopenias after initial recovery of Grade 3 or 4 cytopenia. Six and 11 patients had Grade 3 or 4 neutropenia and thrombocytopenia, respectively, at the time of death.

Monitor blood counts prior to and after CARVYKTI® infusion. Manage cytopenias with growth factors and blood product transfusion support according to local institutional guidelines.

Infections: CARVYKTI® should not be administered to patients with active infection or inflammatory disorders. Severe, life-threatening or fatal infections occurred in patients after CARVYKTI® infusion.

Infections (all grades) occurred in 57 (59%) patients. Grade 3 or 4 infections occurred in 23% (22/97) of patients; Grade 3 or 4 infections with an unspecified pathogen occurred in 17%, viral infections in 7%, bacterial infections in 1%, and fungal infections in 1% of patients. Overall, four patients had Grade 5 infections: lung abscess (n=1), sepsis (n=2) and pneumonia (n=1).

Monitor patients for signs and symptoms of infection before and after CARVYKTI® infusion and treat patients appropriately. Administer prophylactic, pre-emptive and/or therapeutic antimicrobials according to the standard institutional guidelines. Febrile neutropenia was observed in 10% of patients after ciltacabtagene autoleucel infusion, and may be concurrent with CRS. In the event of febrile neutropenia, evaluate for infection and manage with broad-spectrum antibiotics, fluids and other supportive care, as medically indicated.

Viral Reactivation: Hepatitis B virus (HBV) reactivation, in some cases resulting in fulminant hepatitis, hepatic failure and death, can occur in patients with hypogammaglobulinemia. Perform screening for Cytomegalovirus (CMV), HBV, hepatitis C virus (HCV), and human immunodeficiency virus (HIV), or any other infectious agents if clinically indicated in accordance with clinical guidelines before collection of cells for manufacturing. Consider antiviral therapy to prevent viral reactivation per local institutional guidelines/clinical practice.

Hypogammaglobulinemia was reported as an adverse event in 12% (12/97) of patients; laboratory IgG levels fell below 500 mg/dL after infusion in 92% (89/97) of patients. Monitor immunoglobulin levels after treatment with CARVYKTI® and administer IVIG for IgG <400 mg/dL. Manage per local institutional guidelines, including infection precautions and antibiotic or antiviral prophylaxis.

Use of Live Vaccines: The safety of immunization with live viral vaccines during or following CARVYKTI® treatment has not been studied. Vaccination with live virus vaccines is not recommended for at least 6 weeks prior to the start of lymphodepleting chemotherapy, during CARVYKTI® treatment, and until immune recovery following treatment with CARVYKTI®.

Hypersensitivity Reactions have occurred in 5% (5/97) of patients following ciltacabtagene autoleucel infusion. Serious hypersensitivity reactions, including anaphylaxis, may be due to the dimethyl sulfoxide (DMSO) in CARVYKTI®. Patients should be carefully monitored for 2 hours after infusion for signs and symptoms of severe reaction. Treat promptly and manage appropriately according to the severity of the hypersensitivity reaction.

Secondary Malignancies: Patients may develop secondary malignancies. Monitor life-long for secondary malignancies. In the event that a secondary malignancy occurs, contact Janssen Biotech, Inc., at 1-800-526-7736 for reporting and to obtain instructions on collection of patient samples for testing of secondary malignancy of T cell origin.

Effects on Ability to Drive and Use Machines: Due to the potential for neurologic events, including altered mental status, seizures, neurocognitive decline, or neuropathy, patients are at risk for altered or decreased consciousness or coordination in the 8 weeks following CARVYKTI® infusion. Advise patients to refrain from driving and engaging in hazardous occupations or activities, such as operating heavy or potentially dangerous machinery during this initial period, and in the event of new onset of any neurologic toxicities.

ADVERSE REACTIONS

The most common non-laboratory adverse reactions (incidence greater than 20%) are pyrexia, cytokine release syndrome, hypogammaglobulinemia, hypotension, musculoskeletal pain, fatigue, infections of unspecified pathogen, cough, chills, diarrhea, nausea, encephalopathy, decreased appetite, upper respiratory tract infection, headache, tachycardia, dizziness, dyspnea, edema, viral infections, coagulopathy, constipation, and vomiting. The most common laboratory adverse reactions (incidence greater than or equal to 50%) include thrombocytopenia, neutropenia, anemia, aminotransferase elevation, and hypoalbuminemia.

Please read full Prescribing Information including Boxed Warning for CARVYKTI®.

About Legend Biotech

Legend Biotech is a global biotechnology company dedicated to treating, and one day curing, life-threatening diseases. Headquartered in Somerset, New Jersey, we are developing advanced cell therapies across a diverse array of technology platforms, including autologous and allogeneic chimeric antigen receptor T-cell and natural killer (NK) cell-based immunotherapy. From our three R&D sites around the world, we apply these innovative technologies to pursue the discovery of cutting-edge therapeutics for patients worldwide.

Learn more at www.legendbiotech.com and follow us on Twitter and LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to Legend Biotech’s strategies and objectives; statements relating to ciltacabtagene autoleucel (cilta-cel), including Legend Biotech’s expectations for cilta-cel; statements about submissions for cilta-cel to, and the progress of such submissions with, the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), the Chinese Center for Drug Evaluation of National Medical Products Administration (CDE) and other regulatory authorities; potential indications for cilta-cel; the anticipated timing of, and ability to progress, clinical trials; and the ability to generate, analyze and present data from clinical trials. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Contacts

Press Contact:
Tina Carter, Corporate Communications Lead, Legend Biotech

tina.carter@legendbiotech.com
(908) 331-5025

Investor Contacts:
Joanne Choi, Senior Manager, Investor Relations, Legend Biotech

joanne.choi@legendbiotech.com

Crystal Chen, Manager, Investor Relations, Legend Biotech

crystal.chen@legendbiotech.com

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