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Business News Now!

National Wealth Management to join Cary Street Partners

Further Expands Cary Street Partners’ New Jersey Presence

 

RICHMOND, Va. — (BUSINESS WIRE) — Cary Street Partners today announced the firm has acquired Florham Park, NJ based National Wealth Management, an SEC Registered Investment Adviser. Founded in 2005, National Wealth Management provides high net worth individuals and families with comprehensive fee- based financial planning and wealth management services.

“We are excited to join forces with Dave Cottam and the team of National Wealth Management,” said Joseph R. Schmuckler, Chief Executive Officer of Cary Street Partners. “Dave was an early pioneer to the fee-based independent business model and understands what it takes to build a valuable service culture to clients in today’s environment. Cary Street Partners is built on the same vision and the combination of our firms will strengthen all of us to operate at a higher standard in all that we do to serve clients.”

 

National Wealth Management (“NWM”) builds asset allocation and investment programs tailored to meeting overall long-term financial goals and objectives. As a fee-based fiduciary platform, the firm was built on always keeping the client at the center of focus. NWM specializes in investment management, financial, retirement and business succession planning, strategic executive stock option management, insurance risk management, advanced planning, and education planning.

 

“Throughout my career, I have learned to recognize the need for the services provided by my firm and others like me as critical for individuals to save, invest and plan for their futures,” said David Cottam, Founding Partner of NWM. “As we have grown, we began to recognize the need for the larger scale institutional competencies required to cover our business needs. Growing compliance, operations and technology and investment solutions are core to providing the highest standard to remain a true fiduciary. Cary Street Partners has the people and resources required to enable our team to do more of what we love to do, focus on clients and to expand our expertise.”

 

The combined firms will manage approximately $5.5 billion in assets across all Cary Street Partners subsidiaries1 with the completion of the acquisition and will provide comprehensive wealth management solutions to individuals, families, and institutions. This combination will further expand the Virginia based firm into metro New Jersey, marking the second acquisition in under three years and dramatically expanding the firm’s reach. The transaction closed on April 15, 2022.

 

About Cary Street Partners

Cary Street Partners Financial LLC is a leading independent financial services firm operating in 13 offices across five states. Cary Street Partners provides comprehensive wealth management services including investment management, planning and financial advice in a culture dedicated to independence and objective thinking. Cary Street Partners financial advisers serve individuals, families and institutions with customized strategies tailored to fit each client’s objectives. For more information, please visit carystreetpartners.com.

 

1As of the completion of the acquisition (4/15/2022)

Cary Street Partners is the trade name used by Cary Street Partners LLC, Member FINRA/SIPC; Cary Street Partners Investment Advisory LLC and Cary Street Partners Asset Management LLC, registered investment advisers. National Wealth Management (“NWM”) is a registered investment adviser.

Contacts

Paige W. Garrigan

Paige.Garrigan@CaryStreetPartners.com
404-974-4984

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Business News Now!

Catalent, Inc. announces third quarter fiscal year 2022 earnings conference webcast

SOMERSET, N.J. — (BUSINESS WIRE) — Catalent, the leading global provider of advanced delivery technologies, development, manufacturing and clinical supply solutions for drugs, biologics, cell and gene therapies, as well as consumer health products, today announced that it will release financial results for the third quarter of fiscal year 2022 ended March 31, 2022, before the market open on Tuesday, May 3, 2022. The Company’s management will host a webcast to discuss the results at 8:15 a.m. ET on the same day.

Catalent invites all interested parties to listen to the webcast, which will be accessible through Catalent’s website at http://investor.catalent.com.

 

A supplemental slide presentation will also be available in the “Investors” section of Catalent’s website prior to the start of the webcast. The webcast replay, along with the supplemental slides, will be available for 90 days in the “Investors” section at www.catalent.com.

 

About Catalent, Inc.

Catalent, Inc. (NYSE: CTLT), an S&P 500® company, is the global leader in enabling pharma, biotech, and consumer health partners to optimize product development, launch, and full life-cycle supply for patients around the world. With broad and deep scale and expertise in development sciences, delivery technologies, and multi-modality manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer health brand extensions, and blockbuster drugs. Catalent helps accelerate over 1,000 partner programs and launch over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply over 70 billion doses of more than 7,000 products to over 1,000 customers annually. Catalent’s expert workforce exceeds 18,000, including more than 2,500 scientists and technicians. Headquartered in Somerset, New Jersey, the company generated $4 billion in revenue in its 2021 fiscal year. For more information, visit www.catalent.com.

 

More products. Better treatments. Reliably supplied.™

Contacts

Investor Contact:

Paul Surdez, Catalent, Inc.

(732) 537-6325

investors@catalent.com

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Business Culture

Cross River supports American veterans through partnership with Heroes to Heroes program

FORT LEE, N.J. — (BUSINESS WIRE) — Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, today announced its support of Heroes to Heroes, a foundation that offers spiritual healing and peer support for combat veterans of all faiths and backgrounds who are suffering from the post traumatic effects of their service time. Cross River team members in both New Jersey and Jerusalem greeted and thanked American heroes as they kicked-off and landed on their trip to Israel as part of their spiritual healing journey.


“With Cross River offices in New Jersey and Jerusalem, our employees were able to interact and take part in the healing process for true American Heroes,” said Phil Goldfeder, SVP of Global Public Affairs at Cross River. “We’re thrilled to support Heroes to Heroes, an organization close to our hearts on both sides of the ocean, in this momentous initiative to provide life-saving resources that have the power to impact American veterans for the better.”

 

Heroes To Heroes is a non-denominational 501(c)(3) organization, providing emotional and spiritual healing, suicide prevention, and peer support for veterans who suffer from Moral Injury. The three-year and beyond program begins with a 12-month curriculum for emotional strength where the veterans focus on building trust and connecting with their emotions as well as their family and peers. Following this period, the next “journey” takes the veterans on a 10-day trip to Israel where they can begin to find reconnection to spirituality, forgiveness, faith and peace into their lives.

 

“Cross River’s support allows us to save and change lives for the better. Twelve veterans’ lives have been changed and they have chosen life,” said Judy Isaacson Elias, Founder and President, Heroes to Heroes Foundation. “This outcome not only affects the veteran, but impacts the lives of family members, friends, and the community. Successfully returning veterans to civilian life is crucial to the future of our country.”

 

On March 21st, 2022, Cross River hosted a meet and greet and sendoff for the veterans at Newark Liberty International Airport as they embarked on their voyage. At the end of the program, before leaving Israel and returning to the United States, the Cross River team in Israel attended a dinner with the participants, fortifying the bond and support between the veterans and Cross River.

 

“Thank you for this tremendous journey. It has helped me be closer to God and to appreciate the things I have in my life,” said Alberto Corales Santiago, a Hero from Bronx, NY. “It has taught me to be more merciful with others and to help other veterans in any way I can.”

 

Heroes to Heroes offers year-round services, such as coaching and peer support. Cross River plans to increase its assistance with volunteer engagement and sponsorships of their outings to continue to build on this meaningful relationship. Cross River is known for its financial inclusion efforts, and as a pillar in the community as a resource for support. The Company has been instrumental in bridging the gap between New Jersey and Jerusalem, working with the State and local organizations to strengthen existing economic ties, cultivate further investment opportunities in New Jersey and deepen cultural ties between United States and Israel.

 

About Cross River

Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, lending and crypto solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.

Contacts

Media Contacts
Cross River

Eden Hoffman

Phone: 201-808-7000 x538

ehoffman@crossriver.com

Categories
Business

AM Best comments on Credit Ratings of Accident Fund Insurance Company of America and subsidiaries following announcement of AmeriTrust Group acquisition

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has commented that the Credit Ratings (ratings) of Accident Fund Insurance Company of America (Accident Fund) (Lansing, MI) and its insurance subsidiaries remain unchanged following the announcement that it has agreed to acquire Star Insurance Company (Southfield, MI) and its subsidiaries (collectively referred to as AmeriTrust Group). The transaction is subject to regulatory approvals and is expected to close before the end of 2022.

On April 12, 2022, Accident Fund announced that it has entered into a definitive agreement to acquire AmeriTrust Group from Fosun International Limited. AmeriTrust offers specialty insurance programs and products, including workers’ compensation, commercial package and automotive business coverages, and comprehensive product offerings in various industry segments.

 

AM Best anticipates that Accident Fund will continue to maintain supportive risk-adjusted capitalization and overall balance sheet strength, which is assessed at the very strong level. AM Best does not expect Accident Fund’s strong operating performance, neutral business profile and appropriate enterprise risk management to be impacted by the transaction. Following the close of the transaction, AM Best will continue to discuss the transaction’s progress with Accident Fund management and assess its impact on operations.

 

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

Michael Venezia
Senior Financial Analyst
+1 908 439 2200, ext. 5034
michael.venezia@ambest.com

Robert Raber
Director
+1 908 439 2200, ext. 5696
robert.raber@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 Technology

Altada partners with leading data management platform, SlyceData

AI Leader Enters Into Strategic Relationship With Data and Research Platform Company, Delivering Enhanced Decision Making Tools to the Financial Services Market

 

CORK, Ireland & NEW YORK — (BUSINESS WIRE) — Altada Technology Solutions, a global provider of artificial intelligence (AI) solutions that supercharge data-driven decision making in the financial services, travel/security and healthcare sectors, today announced a strategic partnership with SlyceData. SlyceData is a leading data management platform for investment researchers that automates the data wrangling process and provides intuitive tools for exploring and extracting financial data.

The partnership, effective today, will enable joint customers to seamlessly combine data from multiple sources, including those generated by Altada’s AI solutions. SlyceData’s best-in-class solution automates the crucial tasks of ingestion and concordance of data sets, complementing Altada’s suite of financial services AI solutions. Altada uses AI to generate structured datasets from previously inaccessible information, dramatically increasing the number of available data sources for financial services teams. Sharing technology capabilities, the Altada-SlyceData partnership will better serve the data analytics market across a variety of use cases.

 

“We’re excited about this strategic partnership with SlyceData because it greatly expands our technology capabilities,” said Allan Beechinor, Altada CEO. “Together, we will deliver a solution designed to empower professionals within financial institutions to make data-driven decisions as quickly as possible, using the best available data sources.”

 

The vast majority of structured datasets remain incompatible with each other. SlyceData automates time-consuming data preparation, drastically increasing the volume of data that can be utilized for decision making and accelerating the discovery of insights using those datasets.

 

The partnership will enable SlyceData to provide greater value to a wider range of financial institutions, and the combined Altada-SlyceData solution will provide clients with access to new data sources. It will also provide customers with the ability to intuitively explore, extract and visualize their various data sources side-by-side. These advanced capabilities will enable financial institutions to optimize their performance by making data-driven decisions quickly and cost effectively.

 

“We’re delighted to be partnering with Altada, who share our vision for a data-driven future for financial services and beyond,” said Chris Harrison, CEO of SlyceData. “SlyceData provides unique expertise around financial data management and a deep familiarity with the investment management space, while Altada brings the best of breed in AI and machine learning to streamline processes and quickly unlock new sources of data. By sharing our capabilities, we’ll accelerate product development to deliver a compelling solution – focused on data usability and accessibility – that will help firms leverage their data to drive business results.”

 

About Altada

Founded in 2017, Altada is a global provider of artificial intelligence (AI) solutions that supercharge data-driven decision making in the financial services, travel/security and healthcare markets. The company’s Data Intelligence Platform integrates the first AI engine that leverages optical character recognition (OCR) and natural language processing (NLP) to analyze large volumes of structured and unstructured data, enabling users to not only make sense of their information but to also gain meaningful market insights that drive competitive advantage. Altada is headquartered in Cork, Ireland, and operates 12 offices across Europe, the US and Asia, including Dublin, Malta, London, Miami, New York, San Francisco and Delhi. Privately-held, Altada is backed by venture investment from Rocktop Partners, Elkstone Partners and Enterprise Ireland. To learn more, please visit https://www.altada.com/.

 

About Slycedata

Headquartered in New Jersey, SlyceData provides data solutions to financial services firms to accelerate their investment research process. Its suite of tools was developed hand-in-hand with industry partners to fit seamlessly into investors’ workflows. Its team has deep expertise in data engineering and the investment management industry. SlyceData helps firms leverage the abundance of available data sources to deliver insights and drive performance.

Contacts

Altada Contact:
Miranda Honnoll

Bospar for Altada
miranda@bospar.com
(408) 887-8486

SlyceData Contact:
Aoife Manley

hello@slycedata.com
(805) 702-3205

Categories
Business Technology

OwnBackup announces the launch of OwnBackup Secure to help companies address SaaS data security gaps

With Secure, OwnBackup addresses the growing demand to include security as part of a comprehensive data protection strategy

 

ENGLEWOOD CLIFFS, N.J. — (BUSINESS WIRE) — OwnBackup, the leading SaaS data protection platform, today announced the launch of a new SaaS Security Posture Management (SSPM) solution, OwnBackup Secure, to help companies identify data vulnerabilities and proactively take action to protect their mission-critical data.

While cyberattacks continue to be a constant threat to all companies that store data in the cloud, it’s just one trend contributing to a larger data confidence crisis, as the volume, velocity, and variety of data inside SaaS applications grows. As SaaS solutions are adopted across more parts of a business, it’s becoming increasingly difficult for organizations to manage, secure and protect their data while simultaneously driving digital transformation projects – primarily because the security controls provided by SaaS providers become more difficult to manage as data and users scale. According to OwnBackup’s research, 88% of sensitive information inside Salesforce remains exposed to hacking and misuse by employees because most users can read or edit high-risk fields.

 

All of this data also poses compliance challenges, as the data varies considerably in sensitivity levels and is subject to industry-specific or government-mandated regulations such as SOX, HIPAA, PCI DSS, and GDPR. Without a proper SSPM solution, it’s nearly impossible for companies to understand what data they hold in their SaaS applications, who has access to it, and how much damage could be done if it was to be compromised.

 

“Protecting and governing the data inside your SaaS applications has become a massive undertaking,” said Sam Gutmann, CEO of OwnBackup. “Until now, there was no single company that could help organizations manage access to sensitive data through the entire data and application development lifecycle – including classification, security posture analysis, remediation, secure development, backup and recovery, and archiving. With OwnBackup Secure, along with our other products, we’re able to deliver all of those capabilities through a single platform.”

 

OwnBackup Secure is available on the Salesforce AppExchange. The product launch is yet another sign of OwnBackup’s rapid growth and furthers their goal to provide comprehensive data protection that goes beyond backup and recovery. Since acquiring RevCult, a SSPM provider, in the second half of 2021, OwnBackup has accelerated its product investments in security to meet increasing market demands and has gained several new customers in just the past few months.

 

“OwnBackup has helped us at Cadence Bank significantly to build a trusted partnership internally with our compliance and security teams, ” said Carl Lange, VP of Application Systems at Cadence Bank. “Having OwnBackup Secure allows our Salesforce team to focus more on what it does best, development in support of the system, while security and compliance teams can focus on risk, collectively benefiting the bank.”

 

Currently, OwnBackup provides its market-leading SaaS data protection solutions for Salesforce, where they are the top-rated solution on the Salesforce AppExchange, as well as Microsoft Dynamics 365, the second-largest CRM platform globally. Between both ecosystems, OwnBackup now protects over 4,500 customers worldwide. As part of their mission to empower customers to own and protect their data on any SaaS platform, they plan to launch OwnBackup Recover for ServiceNow in the coming months.

 

About OwnBackup

OwnBackup is a leading SaaS data protection platform for some of the largest SaaS ecosystems in the world, including Salesforce, Microsoft Dynamics 365, and ServiceNow. Through capabilities like data security, backup and recovery, archiving, and sandbox seeding, OwnBackup empowers thousands of organizations worldwide to manage and protect the mission-critical data that drives their business.

 

Co-founded by seasoned data recovery, data protection, and information security experts, OwnBackup is a trusted independent software vendor (ISV) partner on the Salesforce AppExchange and Microsoft Marketplace. Headquartered in Englewood Cliffs, New Jersey, with research and development (R&D), support, and other functions in Israel, EMEA and APAC, OwnBackup is the partner of choice for some of the world’s largest users of SaaS applications.

Contacts

Media:

Colin Snell

press@ownbackup.com

Categories
Local News Science

Neoadjuvant Opdivo (nivolumab) with chemotherapy significantly improves event-free survival in patients with resectable non-small cell lung cancer in Phase 3 CheckMate -816 trial

When administered before surgery, three cycles of Opdivo in combination with chemotherapy reduced the risk of disease recurrence, progression or death by 37% and showed an encouraging early trend in overall survival

 

CheckMate -816 is the first positive Phase 3 trial with an immunotherapy-based combination in the neoadjuvant setting of non-small cell lung cancer and fourth Opdivo trial to demonstrate benefit in earlier stages of cancer

 

Data featured as an oral presentation during a Clinical Trials Plenary Session at the American Association for Cancer Research Annual Meeting 2022 and simultaneously published in The New England Journal of Medicine

 

Based on the CheckMate -816 data, Opdivo in combination with chemotherapy received U.S. Food and Drug Administration approval for the neoadjuvant treatment of certain patients with resectable non-small cell lung cancer

 

PRINCETON, N.J. — (BUSINESS WIRE) — $BMY #AACRBristol Myers Squibb (NYSE: BMY) today announced results from the Phase 3 CheckMate -816 trial, which showed that neoadjuvant treatment with three cycles of Opdivo (nivolumab) in combination with chemotherapy significantly improved event-free survival (EFS), a primary endpoint, compared to chemotherapy alone in patients with resectable non-small cell lung cancer (NSCLC). With a minimum follow-up of 21.0 months, Opdivo with chemotherapy reduced the risk of disease recurrence, progression or death by 37% (Hazard Ratio [HR] 0.63; 97.38% Confidence Interval [CI]: 0.43 to 0.91; p=0.0052) across randomized patients when administered before surgery. In patients receiving the combination, median EFS was 31.6 months, compared to 20.8 months for patients treated with chemotherapy alone.

Additionally, while the data are still immature and the analysis did not reach statistical significance, favorable early overall survival (OS) results were observed with Opdivo in combination with chemotherapy (HR 0.57; 99.67% CI: 0.30 to 1.07). At two years, 83% of patients treated with neoadjuvant Opdivo and chemotherapy were alive, compared to 71% with chemotherapy alone. OS will continue to be followed for upcoming analyses.

 

CheckMate -816 represents the first Phase 3 study with an immunotherapy-based combination to show a significant improvement in EFS, as well as in the other primary endpoint of pathologic complete response (pCR), in the neoadjuvant setting of NSCLC. The EFS data are being presented for the first time during the Neoadjuvant and Perioperative Immunotherapy Clinical Trials Plenary Session (Abstract #CT012) at the American Association for Cancer Research (AACR) Annual Meeting 2022 on Monday, April 11, 2022, from 10:15 a.m. to 12:15 p.m. CT and simultaneously published in The New England Journal of Medicine.

 

“While resectable non-small cell lung cancer may be curable in some cases, patients face a high probability of recurrence after surgery, so we need effective systemic treatment options to interrupt this trajectory,” said Nicolas Girard, M.D., Ph.D., CheckMate -816 investigator and professor and head of the Thorax Institute Curie-Montsouris. “The results from CheckMate -816 represent the first demonstration of clear and significant benefits with neoadjuvant immunotherapy-based treatment over chemotherapy alone for these patients, initially seen with increased pathologic complete response and now with improved event-free survival and a positive trend in overall survival. As we work toward the ultimate goal of curing these patients, these data suggest the potential for better long-term outcomes with nivolumab in combination with chemotherapy.”

 

In the study, the safety profile of the neoadjuvant Opdivo-chemotherapy combination was consistent with previous reports, and no new safety signals were observed at the time of the EFS analysis. Rates of Grade 3-4 treatment-related adverse events were similar with the Opdivo-chemotherapy combination versus chemotherapy alone (34% vs. 37%), as were all causality surgery-related Grade 3-4 adverse events (11% with the combination vs. 15% with chemotherapy). With Opdivo in combination with chemotherapy, 83% of patients went on to receive surgery, compared to 75% with chemotherapy.

 

“Surgery is still the cornerstone of cure for patients with non-small cell lung cancer,” said Jonathan Spicer M.D., Ph.D., CheckMate -816 investigator; associate professor of surgery, McGill University; and attending surgeon, division of thoracic and upper gastrointestinal surgery, Montreal General Hospital, McGill University Health Centre. “The fact that neoadjuvant nivolumab with chemotherapy enabled shorter, less invasive and less extensive operations without increasing complications or adverse events is of tremendous importance to thoracic surgeons and their patients. These findings, combined with the improved survival outcomes, have the potential to completely change the way surgeons and oncologists collaborate in treating patients with resectable non-small cell lung cancer.”

 

“Immunotherapy has ushered in a new era of treatment in metastatic cancers, changing survival expectations for patients with lung cancer and many other tumor types. More recently, our understanding of the biology of the immune system and cancer has led us to explore the role of immunotherapy in the neoadjuvant, adjuvant and peri-operative settings,” said Abderrahim Oukessou, M.D., vice president, thoracic cancers development lead, Bristol Myers Squibb. “The data from CheckMate -816, including the positive early overall survival results, reinforce the importance of researching immunotherapy in earlier stages of disease, and we look forward to continuing to see this science translate into tangible benefits for patients and their families.”

 

Based on the EFS and pCR results from CheckMate -816, the U.S. Food and Drug Administration approved Opdivo in combination with platinum-doublet chemotherapy every three weeks for three cycles for adult patients with resectable (tumors ≥4 cm or node positive) NSCLC in the neoadjuvant setting in March 2022, and further applications are under review with health authorities globally.

 

In non-metastatic NSCLC, Bristol Myers Squibb and collaborators are exploring the use of immunotherapy in the neoadjuvant, adjuvant and peri-operative settings, as well as in association with chemoradiation. The scientific rationale for using immunotherapy in the neoadjuvant setting is twofold: the presence of a tumor during immunotherapy treatment may enable a stronger immune response, potentially making the treatment more effective against a primary tumor, while offering an early opportunity to target covert micro-metastasis. To date, Opdivo-based treatments have shown improved efficacy in the neoadjuvant or adjuvant treatment of four tumor types: lung cancer, bladder cancer, esophageal/gastroesophageal junction cancer and melanoma.

 

Bristol Myers Squibb thanks the patients and investigators involved in the CheckMate -816 clinical trial.

 

About CheckMate -816

CheckMate -816 is a Phase 3 randomized, open label, multi-center trial evaluating Opdivo in combination with chemotherapy compared to chemotherapy alone as neoadjuvant treatment in patients with resectable stage IB to IIIA non-small cell lung cancer (per the 7th edition American Joint Committee on Cancer/Union for International Cancer Control staging criteria), regardless of PD-L1 expression. For the primary analysis, 358 patients were randomized to receive either Opdivo 360 mg with histology-based platinum doublet chemotherapy every three weeks for three cycles, or platinum doublet chemotherapy every three weeks for three cycles, followed by surgery. The primary endpoints of the trial are event-free survival and pathologic complete response. Secondary endpoints include overall survival, major pathologic response, and time to death or distant metastases.

 

About Lung Cancer

Lung cancer is the leading cause of cancer deaths globally. Non-small cell lung cancer (NSCLC) is one of the most common types of lung cancer, representing up to 84% of diagnoses. Non-metastatic cases account for the majority of NSCLC diagnoses (approximately 60%, with up to half of these being resectable), and the proportion is expected to grow over time with enhanced screening programs. While many non-metastatic NSCLC patients are cured by surgery, 30% to 55% develop recurrence and die of their disease despite resection, contributing to a need for treatment options administered before surgery (neoadjuvant) and/or after surgery (adjuvant) to improve long-term outcomes.

 

Bristol Myers Squibb: Creating a Better Future for People with Cancer

Bristol Myers Squibb is inspired by a single vision — transforming patients’ lives through science. The goal of the company’s cancer research is to deliver medicines that offer each patient a better, healthier life and to make cure a possibility. Building on a legacy across a broad range of cancers that have changed survival expectations for many, Bristol Myers Squibb researchers are exploring new frontiers in personalized medicine, and through innovative digital platforms, are turning data into insights that sharpen their focus. Deep scientific expertise, cutting-edge capabilities and discovery platforms enable the company to look at cancer from every angle. Cancer can have a relentless grasp on many parts of a patient’s life, and Bristol Myers Squibb is committed to taking actions to address all aspects of care, from diagnosis to survivorship. Because as a leader in cancer care, Bristol Myers Squibb is working to empower all people with cancer to have a better future.

 

About Opdivo

Opdivo is a programmed death-1 (PD-1) immune checkpoint inhibitor that is designed to uniquely harness the body’s own immune system to help restore anti-tumor immune response. By harnessing the body’s own immune system to fight cancer, Opdivo has become an important treatment option across multiple cancers.

 

Opdivo’s leading global development program is based on Bristol Myers Squibb’s scientific expertise in the field of Immuno-Oncology, and includes a broad range of clinical trials across all phases, including Phase 3, in a variety of tumor types. To date, the Opdivo clinical development program has treated more than 35,000 patients. The Opdivo trials have contributed to gaining a deeper understanding of the potential role of biomarkers in patient care, particularly regarding how patients may benefit from Opdivo across the continuum of PD-L1 expression.

 

In July 2014, Opdivo was the first PD-1 immune checkpoint inhibitor to receive regulatory approval anywhere in the world. Opdivo is currently approved in more than 65 countries, including the United States, the European Union, Japan and China. In October 2015, the Company’s Opdivo and Yervoy combination regimen was the first Immuno-Oncology to receive regulatory approval for the treatment of metastatic melanoma and is currently approved in more than 50 countries, including the United States and the European Union.

 

INDICATIONS

OPDIVO® (nivolumab), as a single agent, is indicated for the treatment of adult patients with unresectable or metastatic melanoma.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of adult patients with unresectable or metastatic melanoma.

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 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), 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) is indicated for the treatment of adult patients with metastatic non-small cell lung cancer (NSCLC) with progression on or after platinum-based chemotherapy. Patients with EGFR or ALK genomic tumor aberrations should have disease progression on FDA-approved therapy for these aberrations prior to receiving OPDIVO.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the first-line treatment of adult patients with unresectable malignant pleural mesothelioma (MPM).

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the first-line treatment of adult patients with intermediate or poor risk advanced renal cell carcinoma (RCC).

OPDIVO® (nivolumab), in combination with cabozantinib, is indicated for the first-line treatment of adult patients with advanced renal cell carcinoma (RCC).

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with advanced renal cell carcinoma (RCC) who have received prior anti-angiogenic therapy.

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with classical Hodgkin lymphoma (cHL) that has relapsed or progressed after autologous hematopoietic stem cell transplantation (HSCT) and brentuximab vedotin or after 3 or more lines of systemic therapy that includes autologous HSCT. This indication is approved under accelerated approval based on overall response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with recurrent or metastatic squamous cell carcinoma of the head and neck (SCCHN) with disease progression on or after platinum-based therapy.

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with locally advanced or metastatic urothelial carcinoma who have disease progression during or following platinum-containing chemotherapy or have disease progression within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy.

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), as a single agent, is indicated for the treatment of adult and pediatric (12 years and older) patients with microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) metastatic colorectal cancer (CRC) that has progressed following treatment with a fluoropyrimidine, oxaliplatin, and irinotecan. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of adults and pediatric patients 12 years and older with microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) metastatic colorectal cancer (CRC) that has progressed following treatment with a fluoropyrimidine, oxaliplatin, and irinotecan. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of adult patients with hepatocellular carcinoma (HCC) who have been previously treated with sorafenib. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with unresectable advanced, recurrent or metastatic esophageal squamous cell carcinoma (ESCC) after prior fluoropyrimidine- and platinum-based chemotherapy.

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).

OPDIVO® (nivolumab), in combination with fluoropyrimidine- and platinum- containing chemotherapy, is indicated for the treatment of adult patients with advanced or metastatic gastric cancer, gastroesophageal junction cancer, and esophageal adenocarcinoma.

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 patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, immune-mediated pneumonitis occurred in 7% (31/456) of patients, including Grade 4 (0.2%), Grade 3 (2.0%), and Grade 2 (4.4%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune-mediated pneumonitis occurred in 3.9% (26/666) of patients, including Grade 3 (1.4%) and Grade 2 (2.6%). 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.

In Checkmate 205 and 039, pneumonitis, including interstitial lung disease, occurred in 6.0% (16/266) of patients receiving OPDIVO. Immune-mediated pneumonitis occurred in 4.9% (13/266) of patients receiving OPDIVO, including Grade 3 (n=1) and Grade 2 (n=12).

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%). In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, immune-mediated colitis occurred in 25% (115/456) of patients, including Grade 4 (0.4%), Grade 3 (14%) and Grade 2 (8%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune-mediated colitis occurred in 9% (60/666) of patients, including Grade 3 (4.4%) and Grade 2 (3.7%).

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%). In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, immune- mediated hepatitis occurred in 15% (70/456) of patients, including Grade 4 (2.4%), Grade 3 (11%), and Grade 2 (1.8%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune-mediated hepatitis occurred in 7% (48/666) of patients, including Grade 4 (1.2%), Grade 3 (4.9%), and Grade 2 (0.4%).

OPDIVO in combination with cabozantinib can cause hepatic toxicity with higher frequencies of Grade 3 and 4 ALT and AST elevations compared to OPDIVO alone. Consider more frequent monitoring of liver enzymes as compared to when the drugs are administered as single agents. In patients receiving OPDIVO and cabozantinib, Grades 3 and 4 increased ALT or AST were seen in 11% of patients.

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.

Contacts

Bristol Myers Squibb


Media Inquiries:
media@bms.com

Investors:
investor.relations@bms.com

Read full story here

Categories
Business Culture

Marotta Controls named a New Jersey Top Workplace for 2022

Aerospace and Defense Supplier Recognized for Inclusive and Innovative Company Culture

 

MONTVILLE, N.J. — (BUSINESS WIRE) — #additivemanufacturingMarotta Controls, a rapidly growing aerospace and defense supplier, today announced that it has been named one of New Jersey’s top workplaces. Hosted by NJ Advance Media (NJ.com) in partnership with Energage, the statewide recognition program is based solely on employee survey responses and serves as a candid tool to assess corporate culture as well as the internal leadership impact and opportunity. Marotta Controls was one of 22 Aerospace and Defense companies evaluated nationwide, and ultimately ranked high in the mid-sized New Jersey companies category based on employee responses to the survey’s Culture Driver statements.


Marotta Controls’ performance-driven leadership strategy strives to instill a culture across all business units where new ideas and innovative concepts can be explored. Embracing that level of inspired creativity in a collaborative environment and focusing on employee engagement is largely what has influenced the company’s organic growth since it was founded in 1943.

 

“We deeply value our employee relationships, viewing them as long-term commitments not transactional engagements,” said Patrick Marotta, President and CEO, Marotta Controls. “We have an incredible staff with vision and passion for both engineering and business. Their contributions and support have enabled the company to achieve significant successes throughout our 79-year company history.”

 

This is Marotta Controls’ first year participating. At the time of the survey, the company’s employee base included approximately 450 individuals. Eighty-four percent responded, far exceeding the national participation average of 42 percent for all companies and 66 percent for Aerospace and Defense companies.

 

Notably, the respondents recognized the company as excelling in several crucial areas that shape company culture. Some of these areas include:

  • The company operating by strong values
  • Management caring about employees’ concerns
  • Employees feeling appreciated and that they are part of something meaningful
  • Individual learning, growth, and inclusion
  • Encouragement of new ideas and perspectives

 

“To be ranked by our team members as highly as we were demonstrates a mutual respect that we are truly honored to have earned. We take assessments like these very seriously and work to incorporate related feedback in meaningful ways. We’re proud to see that effort reflected in this year’s results,” added Patrick.

 

The complete list and ranking of New Jersey’s Top Workplaces will be formerly released later this quarter.

 

Methodology

Managed by the independent firm Energage, the NJ.com program is free and open to any organization with 50 or more employees. Staff members of nominated companies complete a questionnaire that addresses employee-centric issues from benefits and expectations to career opportunity and management support. Energage then uses its patented analytic tools and expertise gained from more than 16 years of culture research across 70,000 organizations to assess and report on the data.

 

About Marotta Controls

Founded in 1943, Marotta Controls is a fully-integrated solutions provider which designs, develops, qualifies and manufactures innovative systems and sub-systems for the aerospace and defense sectors. Our portfolio includes pressure, power, motion, fluid, and electronic controls for tactical systems, shipboard and sub-sea applications, satellites, launch vehicles, and aircraft systems. With over 200 patents, Marotta Controls continues to build on its legacy as a highly respected, family-owned small business based in the state of New Jersey. Twitter: @marottacontrols LinkedIn: Marotta Controls, Inc.

Contacts

Heather Ailara

211 Communications

+1.973.567.6040

heather@211comms.com

Katee Glass

Marotta Controls, Inc.

kglass@marotta.com

Categories
Business International & World

MetLife Investment Management Europe receives license from Central Bank of Ireland to manage and market investment strategies across European Economic Area

WHIPPANY, N.J. — (BUSINESS WIRE) — MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that MetLife Investment Management Europe Limited (“MIM Europe”) has been authorized by the Central Bank of Ireland (“CBI”) to manage and market AIFs and UCITS, two vehicles through which European investors can best access MIM’s investment capabilities. Additionally, the license allows MIM Europe to offer and manage MIM’s full range of investment strategies across the European Economic Area (“EEA”).

Headquartered in Dublin, Ireland, MIM Europe will serve as the hub for MIM’s business in the EEA. Today, MIM has a significant presence in Europe across a range of client segments and countries. The authorization will enable broader access to the EEA market.

 

“This affirms our commitment to expand our offerings in Europe and will allow us to take an increasingly local approach to serving the market,” said Matthew Mosca, global head of the Institutional Client Group at MIM. “We have already seen demonstrated demand for our core investment products in Europe, and the CBI license will allow MIM to further leverage both our U.S. and Europe-based product and management capabilities in ways directly suited to European institutional investors.”

 

“The authorization of MIM Europe is a clear demonstration of the central role we expect Europe to continue to play in MIM’s international expansion, and of our desire to deliver our full breadth of investment capability to European investors,” said Nigel Murdoch, managing director and head of EMEA for MIM’s Institutional Client Group. “We look forward to collaborating with investors across Europe on the delivery of strong, long-term, sustainable investment returns.”

 

About MetLife Investment Management

MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of December 31, 2021, had $669.0 billion in total assets under management.1

 

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

 

Endnotes

1 Total AUM is comprised of all MetLife general account and separate account assets and unaffiliated/third party assets, at estimated fair value, managed by MIM.

Contacts

For Media:
Dave Franecki

+1-973-264-7465

dave.franecki@metlife.com

Doug Allen, DLPR

+1 646 722-6530

Doug@dlpr.com

Categories
Healthcare News Now! Science

Daiichi Sankyo provides update on patent dispute with Seagen

TOKYO & BASKING RIDGE, N.J. — (BUSINESS WIRE) — Daiichi Sankyo Co., Ltd. (TSE: 4568) announced today that a jury in the U.S. District Court of Eastern District of Texas decided that ENHERTU® infringes Seagen’s US patent 10,808,039 (the ’039 patent). However, on April 7, 2022, the U.S. Patent Office initiated post-grant review of the ’039 patent to determine whether the claims of that patent should not have originally been granted.

Discovered by Daiichi Sankyo, ENHERTU® is being co-developed and co-commercialized by Daiichi Sankyo and AstraZeneca.

 

Daiichi Sankyo disagrees with the jury verdict, is committed to defending its rights, and will explore options with respect to the jury verdict, including post-trial motions and an appeal,” said Naoto Tsukaguchi, Corporate Officer and General Counsel, Daiichi Sankyo Co., Ltd. “We are pleased that the U.S. Patent Office has agreed to review their initial granting of the ’039 patent.”

 

The jury awarded Seagen $41,820,000 in damages for the period leading up to trial and found that there was willful infringement of the ’039 patent. Seagen has also requested the Court to issue an order requiring the payment of royalties on future sales of ENHERTU® until the expiration of the ’039 patent in 2024. The court has not yet ruled on Seagen’s request for royalties on future sales and whether to enhance damages in view of the jury finding of willful infringement.

 

On October 19, 2020, Seagen filed a complaint against Daiichi Sankyo Co., Ltd. in the U.S. District Court for the Eastern District of Texas alleging infringement of the ’039 patent covering certain antibody drug conjugates. On December 23, 2020, Daiichi Sankyo filed a petition with the U.S. Patent Office for post-grant review contesting the patentability of certain claims within the ’039 patent.

 

About Daiichi Sankyo

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

Contacts

Japan:
Masashi Kawase

Daiichi Sankyo Co., Ltd.

kawase.masashi.a2@daiichisankyo.co.jp
+81 3 6225 1126 (office)

Investor Relations Contact:
DaiichiSankyoIR@daiichisankyo.co.jp

U.S.
Kim Wix

Daiichi Sankyo, Inc.

kwix@dsi.com
+1 973-992-6633 (office)