Pivotal Phase 3 Data Presented at ISTH 2023 Congress Spotlight TAK-755 Prophylaxis for Patients with Congenital Thrombotic Thrombocytopenic Purpura (cTTP)

 OSAKA, Japan & CAMBRIDGE, Mass. - Sunday, 25. June 2023


    Data from First and Only Phase 3 Controlled Trial in cTTP Demonstrate Strong Efficacy and Favorable Safety Profile with TAK-755 (recombinant ADAMTS13), Compared to Plasma-Based Therapies
    Patients Receiving TAK-755 Achieved an Increase in Plasma ADAMTS13 Enzyme Activity Levels, Which Are Deficient in Patients with cTTP, Compared to Plasma-Based Therapies

 

(BUSINESS WIRE) -- Takeda (TSE: 4502/NYSE:TAK) today presented favorable interim results from a global pivotal Phase 3 randomized, controlled, open-label, crossover trial evaluating the safety and efficacy of TAK-755 (recombinant ADAMTS13) replacement therapy for the prophylactic treatment of congenital thrombotic thrombocytopenic purpura (cTTP), and pharmacokinetics (PK) characteristics of TAK-755, as well as long-term data on TAK-755 prophylaxis from a Phase 3b continuation study.

cTTP is an ultra-rare, chronic and debilitating blood clotting disorder caused by a deficiency in ADAMTS13 enzyme. Clinical presentation of cTTP lies on a spectrum of severity ranging from severe acute TTP events to chronic, recurring TTP manifestations (e.g., thrombocytopenia, hemolytic activity, headache, abdominal pain). Acute TTP events have a mortality rate of >90%, if left untreated.1 These studies were designed to evaluate the clinical benefit of TAK-755 in patients with cTTP across multiple clinically relevant endpoints and based on the totality of the evidence provided by efficacy, PK, safety and tolerability data. Both acute and subacute TTP events, including TTP-related organ-specific signs and symptoms were evaluated.

In the pivotal trial, no patient had an acute TTP event while receiving TAK-755 prophylactic treatment. TAK-755 also reduced the incidence of thrombocytopenia by 60%, as compared to plasma-based therapy (for the rate ratio = 0.40 TAK-755/plasma-based therapy with 95% Confidence Interval 0.3 to 0.7). Thrombocytopenia, an important marker of disease activity, was the most frequently observed TTP manifestation. In addition, the results show that TAK-755 demonstrated a favorable safety and tolerability profile, with a potential safety advantage over plasma-based therapies. In the pivotal trial, treatment-emergent adverse events (TEAEs) were reported in 10.3% of patients ages 12-68 receiving TAK-755 compared to 50% of patients receiving plasma-based therapy. (Presentation Number: OC 14.1)

“These findings suggest that recombinant ADAMTS13 is a promising innovative investigational treatment for patients with cTTP,” said Marie Scully, M.D., Department of Haematology, University College London Hospitals, London, United Kingdom. “Given the high burden of illness these patients experience, complicated by unpredictable acute episodes and multiple disease-related complications, this is a much-needed option, supported through a first-of-its-kind clinical trial.”

PK characteristics of ADAMTS13 after a single infusion (0-168 hours) were evaluated and compared to plasma-based therapy in 36 cTTP patients aged 12 and older. Patients receiving TAK-755 achieved a five-fold increase in their ADAMTS13 activity levels compared to those receiving plasma-based therapy (Cmax 100% activity for TAK-755 vs. 19% activity for plasma-based therapy) and lower variability (23.8% vs. 56% coefficient of variation [CV], respectively). (Presentation Number: OC 14.2)

“People with cTTP face life-threatening events and debilitating symptoms, and have no approved treatment for the disease,” said Daniel Curran, M.D., Head, Rare Genetics & Hematology Therapeutic Area Unit at Takeda. “We are encouraged by what these positive results mean for people living with this rare disorder, and we look forward to continuing to advance this program for patients who may benefit from treatment with TAK-755.”

Takeda also presented an interim analysis of the Phase 3b continuation study, evaluating the safety and efficacy of long-term TAK-755 prophylaxis in 29 patients with cTTP (mean ± SD age: 40.4 ± 12.1; 62% female; median [range] duration of treatment 0.7 [0-1.4] years). Results demonstrated a consistently favorable safety profile with TAK-755 prophylaxis and no development of neutralizing antibodies. Zero acute TTP events occurred during TAK-755 prophylaxis, and the incidence rates of subacute TTP events and TTP manifestations were comparable to those with TAK-755 prophylaxis in the pivotal study. (Presentation Number: OC 14.4)

Results were presented today in three oral presentations delivered at the International Society on Thrombosis and Haemostasis (ISTH) 2023 Congress. The full text of Takeda abstracts at ISTH can be found here: https://www.isth2023.org/program

TAK-755 is an investigational therapy that has not been approved by the U.S. Food & Drug Administration (FDA), European Medicines Agency (EMA) or other Regulatory authorities. The FDA has accepted and granted Priority Review for Takeda’s Biologics License Application (BLA) for TAK-755 for the treatment of cTTP.

ABOUT TAK-755

TAK-755 is the first and only recombinant ADAMTS13 protein in development. It provides targeted therapy to address an unmet medical need in patients with thrombotic thrombocytopenic purpura (TTP), by replacing the missing or deficient ADAMTS13 enzyme.2

The TAK-755 cTTP clinical development program includes one first-in-human, Phase 1 study, 281101 (NCT02216084),3 and two ongoing Phase 3 studies: a pivotal Phase 3 study, Study 281102 (NCT03393975), and one Phase 3b continuation study, Study TAK-755-3002 (NCT04683003).4,5 TAK-755 is also being investigated in immune-mediated TTP (iTTP) and sickle cell disease, with Phase 2b (NCT05714969) and Phase 1 (NCT03997760) trials ongoing, respectively, with the Phase 1 trial due to provide data in 2023.6,7

TAK-755 was granted Orphan Drug Designation (ODD) by the U.S. Food and Drug Administration (FDA) for the treatment (ODA-08-2622) and prevention (ODA-08-2652) of TTP including its congenital, acquired idiopathic and secondary forms; and by the European Medicines Agency (EMA) and Japan’s Ministry of Health, Labour and Welfare (MHLW) for the treatment of TTP (EU/3/08/588). The FDA has also granted TAK-755 Fast Track Designation (FTD) for the treatment, prevention and routine prophylaxis of acute episodes of TTP in patients with congenital ADAMTS13 deficiency and granted its Biologics License Application (BLA) Priority Review.

ABOUT cTTP

cTTP is an ultra-rare, chronic and debilitating blood clotting disorder associated with life-threatening acute episodes and long-term chronic symptoms.8,9 cTTP is a sub-type of TTP that has an estimated prevalence of <1 cases/million,9 with cTTP accounting for ≤5% of patients with TTP.10,11 It develops due to deficiency in ADAMTS13 enzyme, a von Willebrand factor (VWF) cleaving protease, which results in the accumulation of ultra-large VWF multimers in the blood.8 The accumulation of ultra-large VWF multimers leads to uncontrolled platelet aggregation and adhesion.9,12 This can lead to abnormal clotting in the small blood vessels of the body and is associated with hemolytic anemia and low platelet levels (thrombocytopenia).12

cTTP has both acute and chronic manifestations (including stroke and cardiovascular disease) and is associated with a significant disease burden. Patients’ quality of life and lifespan are significantly reduced compared to the general population, due to serious, ongoing widespread organ damage and other co-morbidities resulting from an ADAMTS13-deficient state.9,10,13,14 TAK-755 (recombinant ADAMTS13) is a novel investigational therapeutic approach for cTTP.15

There are no medications specifically approved by regulatory authorities for routine prophylactic treatment of cTTP. Current treatment centers around plasma-based therapy, either by infusion or plasma exchange.16 Plasma-based therapy is time consuming and can be associated with severe treatment complications.14,16,17 These can include treatment-limiting volume overload and allergic reactions.16,17

ABOUT TAKEDA

Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit www.takeda.com.

Important Notice
For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

Forward-Looking Statements
This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could” “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations, including global health care reforms; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/sec-filings/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

Medical information
This press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development.

References
____________________________
1 Van Dorland H et al. Haematologica. 2019;104:2107-16
2 Scully M et al. Blood. 2017;130:2055 -63
3 ClinicalTrials.gov Phase 1 Dose Escalation, Single Dose Study to Assess Safety and Pharmacokinetics of BAX930 in Hereditary Thrombotic Thrombocytopenic Purpura (TTP) Available at: https://clinicaltrials.gov/ct2/show/NCT02216084 Last accessed March 2023
4 ClinicalTrials.gov A Study of BAX 930 in Children, Teenagers, and Adults Born With Thrombotic Thrombocytopenic Purpura (TTP). Available at: https://clinicaltrials.gov/ct2/show/NCT03393975. Last accessed: March 2023
5 ClinicalTrials.gov A Study of TAK-755 in Participants With Congenital Thrombotic Thrombocytopenic Purpura Available at: https://clinicaltrials.gov/ct2/show/NCT04683003 Last accessed March 2023
6 ClinicalTrials.gov A Study of TAK-755 (rADAMTS13) With Little to No Plasma Exchange (PEX) Treatment in Adults With Immune-mediated Thrombotic Thrombocytopenic Purpura (iTTP)) Available at: https://clinicaltrials.gov/ct2/show/NCT05714969 Last accessed June 2023
7 ClinicalTrials.gov A Study of SHP655 (rADAMTS13) in Sickle Cell Disease (RAISE) Available at: https://clinicaltrials.gov/ct2/show/NCT03997760 Last accessed March 2023
8 Alwan F, et al., Blood. 2019;133:1644-51
9 Kremer Hovinga JA, et al., Nat Rev Dis Primers. 2017;3:17020
10 Sukumar S, et al. J Clin Med 2021;10:536
11 Mariotte E, et al. Lancet Haematol 2016;3:e237–45
12 Chiasakul T and Cuker A. Am Soc Hematol. 2018;2018(1):530–538
13 Joly BS et al., Blood. 2017;129(21):2836–2846
14 Zheng XL et al., J Thromb Haemost. 202;18(10):2486-95
15 Royal College of Pathologists Bulletin 200 October 2022. Available at: https://www.rcpath.org/profession/publications/college-bulletin/october-2022/thrombotic-thrombocytopenic-purpura-past-present-and-future.html Last accessed March 2023
16 Pandey S and Vyas GN. Transfus. 2012;52:65S-79S
17 McGuckin S et al. Vox Sanguinis 2014;106:161-66

C-APROM/INT/TAK-755/0003 June 2023

 

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Contacts

Japanese Media
Jun Saito
jun.saito@takeda.com

U.S. and International Media
Megan Ostrower
megan.ostrower@takeda.com
+1 772-559-4924

 

Berry Health raises $1.6m pre-seed funding co-led by Lightspeed and General Catalyst

 LONDON - Thursday, 29. June 2023



(BUSINESS WIRE) -- London-based consumer health startup Berry Health raised $1.6m from Lightspeed Venture Partners and General Catalyst to democratize access to healthcare in Africa, starting out with mental health, sexual health and dermatology.

Angels in the round include Reddit COO Jen Wong, Thirty Madison co-founders Demetri Karagas and Steven Gutentag, New York tech lawyer and VC Ed and Betsy Zimmerman, and former US Surgeon General ’09 to ’13 Dr. Regina Benjamin. Africa currently has the highest rate of clinically diagnosed depression and suicide globally according to the WHO, the second highest incidence of STIs, and a rapidly accelerating chronic disease burden.

The company was founded by Dr. Fredua Akosa, a British-Ghanaian medical doctor, public health expert and former VC, and the team includes: VP of Marketing Lusiana Castiglione (ex-WPP), VP Product Management Gaurav Kumar (ex-Instacart), Director of Design Daniel Harvey (ex-Babylon Health), and an expert clinical team.

“Lightspeed understands what it takes to build a successful technology-based healthcare business in various markets around the world,” said Paul Murphy, Partner at Lightspeed. “Our experience and longstanding relationship with Fredua, coupled with his unique insights on the gaps that exist for patients across sub-Saharan Africa, made us extremely excited to partner with Berry Health. We can’t wait for Fredua and the team to bring access to world-class healthcare to patients in Africa.”

About Berry Health:

Berry Health is committed to unlocking healthcare in Africa and breaking stigma in health through technology. The company’s mission is to improve lives by treating important but underserved and stigmatised conditions, while increasing patient agency.

Berry Health is a consumer health startup that offers remote diagnosis and treatment for chronic medical conditions.

For more information, visit our-berry.io and contact us at info@our-berry.io.

 

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Visa to Acquire Pismo

 

(BUSINESS WIRE) -- Visa (NYSE: V) today announced it has signed a definitive agreement to acquire Pismo, a cloud-native issuer processing and core banking platform with operations in Latin America, Asia Pacific and Europe, for $1 billion in cash.

By acquiring Pismo, Visa will be positioned to provide core banking and issuer processing capabilities across debit, prepaid, credit and commercial cards for clients via cloud native APIs. Pismo’s platform will also enable Visa to provide support and connectivity for emerging payment rails, like Pix in Brazil, for financial institution clients.

“Through the acquisition of Pismo, Visa can better serve our financial institution and fintech clients with more differentiated core banking and issuer solutions they can offer their customers,” said Jack Forestell, Chief Product and Strategy Officer, Visa.

"At Pismo, we aim to enable our clients to launch cutting-edge payments and banking products within a single cloud-native platform – regardless of rails, geography or currency. Visa provides us unrivalled support to expand our footprint globally and help shape a new era for banking and payments,“ said Ricardo Josua, Co-Founder, CEO, Pismo.

Pismo will retain its current management team. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by the end of 2023.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

About Pismo

Pismo is a technology company with deep experience developing and implementing banking and cards solutions for digital banks and large financial institutions. The company has operations in Latin America, Southeast Asia and Europe. The company’s investors include Redpoint eventures, Softbank, Amazon and Accel.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as “will,” “is expected,” and other similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the timing and likelihood of closing, Pismo’s future success, the impact of the acquisition on Visa’s growth, and the other benefits to Visa, financial institutions and consumers.

By their nature, forward-looking statements: (i) speak only as of the date they are made; (ii) are not statements of historical fact or guarantees of future performance; and (iii) are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from Visa’s forward-looking statements due to a variety of factors, including the timing and outcome of the regulatory approval process, shifts in the regulatory and competitive landscape, cybersecurity incidents, the pace and success of integration, and various other factors, including those contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022, and our other filings with the U.S. Securities and Exchange Commission.

You should not place undue reliance on such statements. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future developments or otherwise.

 

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Contacts

Media Contacts

Visa

Constantine Panagiotatos

press@visa.com

Pismo

Debora Fortes

press@pismo.io

Quectel Unveils White Paper Showcasing OEMs' Growing Embrace of IoT for Global Digital Transformation

VANCOUVER, British Columbia - Thursday, 29. June 2023

(BUSINESS WIRE) -- Quectel Wireless Solutions, a global IoT solutions provider, today released a comprehensive whitepaper shedding light on the positive contributions of IoT technology to society and the environment. Titled 'Why IoT Technology is a Force for Good,' this publication explores the transformative role of IoT in fostering a safer, healthier, and more sustainable society.

With the number of IoT connected devices forecast by GSMA Intelligence to double between 2021 and 2030 to 37 billion*, device original equipment manufacturers (OEMs) are increasingly embracing IoT as a powerful tool for driving digital transformation and generating significant benefits for the world. Over 7,000 Quectel customers across the globe are revolutionizing various industries and enhancing efficiency, safety, sustainability, and overall quality of life by integrating IoT technologies into their devices. IoT-enabled devices offer enhanced connectivity, allowing for seamless data exchange and real-time insights. This enables businesses to optimize their operations, streamline processes, and improve safety and resource management.

In sectors like healthcare, IoT-enabled medical devices enhance patient monitoring and enable remote healthcare services, improving access to quality care and empowering individuals to manage their health more effectively. Additionally, the adoption of IoT devices promotes sustainability by enabling energy-efficient systems and smart grids, reducing environmental impact. As device OEMs continue to embrace IoT technologies, the world stands to benefit from improved productivity, greater convenience, and a more sustainable future.

The white paper reveals how an optimized approach to design, development, distribution and manufacturing is enabling IoT products to have a positive impact while minimizing energy consumption, environmental impacts and costs for the end user. Critically, intelligent development means that the cost of technologies and components has reduced, democratizing access to innovation and enabling it to be applied to use cases that previously would have remained unviable.

“We’re delighted to publish our new whitepaper that explores why IoT technology is a force for good. The paper's references to a wide range of use cases highlight the profound influence of the Internet of Things (IoT) and the sheer variety of projects it enables,” says Norbert Muhrer, President and CSO, Quectel Wireless Solutions. “This abundance of examples underscores both the significant impact IoT is currently making and the diverse applications it supports. The outcomes experienced by citizens, patients and students demonstrate how IoT is protecting our environment, safeguarding our children and elderly, and following through on its promise to help build a smarter world.”

The concurrent advances in wireless connectivity, storage and computing and battery technology have revolutionized the capabilities of IoT and further helped to position IoT technologies to support society and improve everyone’s lives. Examples traverse the globe and take in multiple industries and the paper highlights use cases with transformative effects. One example was the utilization of IoT technologies to power Controlant’s Cold Chain as a Service offering which was adopted by Pfizer to support the delivery of the Pfizer-BioNTech COVID-19 vaccine. Controlant’s thermal shipping box utilized Quectel’s EG25-G module which supports all LTE, UMTS, HSPA+, EDGE, GPRS and GSM bands and all global navigation satellite systems (GNSS).

The paper reveals a raft of IoT for good use cases including IoT enablement of patient care in Australia, optimization of crop yields in Brazil, reduction of environmental impacts on waste collection routes in EMEA and minimized wastage of battery resources in Europe. Other applications the paper explores that benefit humans include use cases in mine safety, connected EVs and initiatives to bridge the digital divide.

The paper goes on to highlight how success IoT for good initiatives rely on a robust, global ecosystem of vendors to drive innovation and ensure R&D can deliver new capabilities at affordable costs. The paper reports that the IoT ecosystem is increasingly diverse and able to support the needs of the hyperscale marketplace as developers move forward into the next wave of transformative innovation.

To read the whitepaper, visit: https://www.quectel.com/library/iot-for-good-white-paper

*GSMA Intelligence: https://www.gsma.com/mobilefordevelopment/wp-content/uploads/2023/04/IoT-for-Development-Use-cases-delivering-impact.pdf

About Quectel

Quectel’s passion for a smarter world drives us to accelerate IoT innovation. A highly customer-centric organization, we are a global IoT solutions provider backed by outstanding support and services. Our growing global team of 5,900 professionals sets the pace for innovation in cellular, GNSS, Wi-Fi and Bluetooth modules, antennas, services and IoT connectivity.

With regional offices and support across the globe, our international leadership is devoted to advancing IoT and helping build a smarter world.

For more information: www.quectel.com, LinkedIn, Facebook, and Twitter.

 

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Provenir Awarded Best AI-Driven Credit Decisioning Solution Provider of the Year at Annual Africa Bank 4.0 Awards for North Africa

 London, United Kingdom - Wednesday, 28. June 2023 AETOSWire Print 

The company’s Data and AI-Powered Risk Decisioning Platform offers a streamlined single point of access to credit bureaus and data sources for more accurate credit decisioning

(BUSINESS WIRE) -- Provenir, a global leader in data and AI-powered risk decisioning software, today announced it has been awarded the Best AI-Driven Credit Decisioning Solution Provider of the Year at the annual Africa Bank 4.0 Awards for North Africa.

The Africa Bank 4.0 Awards recognises the pioneers and visionaries who are transforming the fintech industry and making financial services in Africa more accessible, innovative, convenient and affordable. Every year, they acknowledge the startups, banks and technology providers that are developing breakthrough technologies focused on financial inclusion.

Provenir’s data and AI-powered risk decisioning software allows businesses worldwide to easily create automated decisioning workflows across the entire customer lifecycle, integrate these workflows with data through a simplified single-API process, and apply AI to all data to automate the development of new credit risk models. From loan origination to merchant onboarding, Provenir’s software enables businesses to make smarter risk decisions across compliance, fraud and credit. Provenir is dedicated to redefining banking services and products by catering to the unique needs of the unbanked and underserved populations in Africa, leveraging alternative data and advanced analytics to catalyse financial inclusion while reducing risk and preventing fraud.

“We’re proud to be recognized in this year’s Africa Bank 4.0 Awards in North Africa for our industry-leading credit risk decisioning solutions,” said Adrian Pillay, Vice President of Sales, MEA, at Provenir. “The current approach to determining credit risk profiles using only traditional data unfairly impacts the unbanked population. At Provenir, we’re committed to setting the benchmark when it comes to providing tools that enable real-time decisioning processes and put financial inclusion at the heart of financial services. Our unique AI-driven solution enables lenders to leverage data quickly, simply and affordably to make better credit decisions.”

About Provenir

Provenir helps fintechs and financial services providers unlock the secret to smarter credit risk decisioning.

The company brings together the power of decisioning, data and AI to drive instant decisions. This unique offering gives organisations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, access to financial services, business agility, and more.

Provenir works with disruptive financial services organisations in more than 50 countries and processes more than 4 billion transactions annually.

 

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Media:

Eloise Doolan

Cognito Media (for Provenir)

Provenir@cognitomedia.com

+44 (0) 7530 122777

Moody’s and Microsoft Develop Enhanced Risk, Data, Analytics, Research and Collaboration Solutions Powered by Generative AI

 NEW YORK & REDMOND, Wash. - Thursday, 29. June 2023

Strategic Partnership for Next-Gen Solutions Built on Microsoft Azure OpenAI Service, Microsoft Fabric, and Microsoft Teams and Moody’s Proprietary Data to Empower Financial Services, Capital Markets and More

(BUSINESS WIRE) -- Moody’s Corporation (NYSE:MCO) and Microsoft (NASDAQ: MSFT) today announced a new strategic partnership to deliver next-generation data, analytics, research, collaboration and risk solutions for financial services and global knowledge workers. Built on a combination of Moody’s robust data and analytical capabilities and the power and scale of Microsoft Azure OpenAI Service, the partnership creates innovative offerings that enhance insights into corporate intelligence and risk assessment, powered by Microsoft AI and anchored by Moody’s proprietary data, analytics and research.

Strategic Partnership Highlights

Microsoft and Moody’s are co-creating new products and services for research and risk assessment, built on Azure OpenAI Service for enhanced data and risk management.

“Moody’s CoPilot,” an internal copilot tool, is now deployed to Moody’s 14,000 global employees, and will combine Moody’s proprietary data, analytics and research with the latest large language models (LLMs) and Microsoft’s world-class generative AI technology to drive firm-wide innovation and enhance employee productivity in a safe and secure digital sandbox.

Moody’s is adopting Microsoft Teams to provide a new platform for its knowledge workers and customers that will enhance collaboration, productivity, and communication, while maintaining the highest compliance standards.

For internal use and co-innovations, Microsoft is leveraging Moody’s broad range of solutions, including Moody’s Orbis database – one of the world’s most powerful databases on companies – with applications that include third-party reference data, counterparty risk assessment, and supply chain management.

Microsoft and Moody’s will collaborate on the opportunity to deliver data to their shared customers through Microsoft Fabric, a new analytics platform for end-to-end data management.

Moody’s commits to using Microsoft’s Azure cloud platform to power its growing suite of generative AI capabilities and cloud-based applications.

Rob Fauber, president and chief executive officer of Moody's Corporation, said, “Generative AI represents a once-in-a-generation opportunity to enhance how companies navigate the ever-evolving world of exponential risk. By combining Microsoft’s cutting-edge AI capabilities with our proprietary data, research and analytics, Moody’s is positioned to lead the next generation of risk analysis, helping our customers make better decisions by unlocking deeper, more integrated, and unmatched perspectives on risk. We have activated our 14,000 global employees to drive unprecedented experimentation and ignite new innovations across our suite of products and solutions. We are excited to partner with Microsoft to set the standard for how generative AI will pioneer new advancements across our industry.”

Unlocking Advancements in Integrated Risk Analysis

A new copilot tool for customers, “Moody’s Research Assistant,” will unlock the full potential of Moody’s resources and solutions to provide customers with a multifaceted view of risk. Built on Microsoft Azure OpenAI Service and available through multiple channels, including Microsoft Teams, Moody’s Research Assistant will quickly compile and summarize complex information from multiple data sources, all in a safe and secure environment that protects private and proprietary information. Among its many anticipated uses will be the ability to generate custom, detailed analyses of a company or sector by seamlessly combining data from across multiple dimensions – such as firmographic data, credit indicators, economic forecasts, and risk and reputational profiles – to provide fast, contextual and informative answers based on the integration of expansive LLMs and Moody’s industry-leading data, analytics and research.

Bill Borden, corporate vice president of worldwide financial services at Microsoft said, “Our partnership will bring together world-class insights from Moody’s with the capabilities, trust and breadth of Microsoft Cloud – including Azure OpenAI Service, Fabric and Teams – to enable next-gen solutions that will unlock powerful business intelligence and transform productivity and collaboration. We look forward to the new opportunities and value this will bring to employees and firms across banking, capital markets and insurance as well as those in other industries such as manufacturing, telecommunications, transportation and utilities.”

Enhancing Moody’s Collaboration and Productivity through Microsoft Teams

Additionally, through the partnership, Moody’s will leverage Microsoft Teams to create a new collaboration, productivity and communication platform for its knowledge workers and customers. With the integration of Moody’s copilot tools, Teams will automate and streamline manual workflows, provide more efficient access to data and content, and synthesize and summarize information from across multiple data sets, resulting in better insights, improved productivity and compliance, and enhanced employee and customer experiences.

Collaborating to Enhance the New Microsoft Fabric

Microsoft and Moody’s will collaborate on the opportunity to deliver data to their shared customers through Microsoft Fabric, a new end-to-end data analytics platform. Microsoft Fabric includes technologies like Azure Synapse Analytics, Azure Data Factory and Power BI in a single unified product, allowing data engineers opportunity to easily connect and curate data from multiple sources, eliminating sprawl, while better governing data across the entire organization.

ABOUT MOODY’S CORPORATION

Moody’s (NYSE: MCO) is a global integrated risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With approximately 14,000 employees in more than 40 countries, Moody’s combines international presence with local expertise and over a century of experience in financial markets.

ABOUT MICROSOFT

Microsoft (Nasdaq “MSFT” @Microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for Moody’s business and operations that involve a number of risks and uncertainties. Such statements involve estimates, projections, goals, forecasts, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements. Stockholders and investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements and other information in this release are made as of the date hereof, and Moody’s undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Moody’s is identifying certain factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to: the impact of current economic conditions, including capital market disruptions, inflation and related monetary policy actions by governments in response to inflation, on worldwide credit markets and on economic activity, including on the volume of mergers and acquisitions, and their effects on the volume of debt and other securities issued in domestic and/or global capital markets; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government initiatives and monetary policy to respond to the current economic climate, including instability of financial institutions, credit quality concerns, and other potential impacts of volatility in financial and credit markets; the global impact of the Russia - Ukraine military conflict on volatility in world financial markets, on general economic conditions and GDP in the U.S. and worldwide, on global relations and on the Company's own operations and personnel; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, increased utilization of technologies that have the potential to intensify competition and accelerate disruption and disintermediation in the financial services industry, as well as the number of issuances of securities without ratings or securities which are rated or evaluated by non-traditional parties; the level of merger and acquisition activity in the U.S. and abroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government actions affecting credit markets, international trade and economic policy, including those related to tariffs, tax agreements and trade barriers; the impact of MIS’s withdrawal of its credit ratings on countries or entities within countries and of Moody’s no longer conducting commercial operations in countries where political instability warrants such action; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction of competing products or technologies by other companies; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation related to our rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquiries to which Moody’s may be subject from time to time; provisions in U.S. legislation modifying the pleading standards and EU regulations modifying the liability standards applicable to credit rating agencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; uncertainty regarding the future relationship between the U.S. and China; the possible loss of key employees and the impact of the global labor environment; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the timing and effectiveness of our restructuring programs, such as the 2022 - 2023 Geolocation Restructuring Program; currency and foreign exchange volatility; the outcome of any review by controlling tax authorities of Moody’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if Moody’s fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which Moody’s operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions, such as our acquisition of RMS, or other business combinations and the ability of Moody’s to successfully integrate acquired businesses; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under “Risk Factors” in Part I, Item 1A of Moody’s annual report on Form 10-K for the year ended December 31, 2022, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it. Forward-looking and other statements in this document may also address our corporate responsibility progress, plans, and goals (including sustainability and environmental matters), and the inclusion of such statements is not an indication that these contents are necessarily material to investors or required to be disclosed in the Company’s filings with the Securities and Exchange Commission. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.

 

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For Moody’s:

SHIVANI KAK

Investor Relations

+1 212-553-0298

shivani.kak@moodys.com

OR

MICHAEL ADLER

Moody’s Communications

+1 212-553-4667

michael.adler@moodys.com

For Microsoft:

WE Communications for Microsoft

Microsoft Media Relations

+1 425-638-7777

rapidresponse@we-worldwide.com

NTT Takes Tour de France and Tour de France Femmes avec Zwift to Edge of Innovation With Enhanced Technology Solutions

 LONDON - Thursday, 29. June 2023

For the past nine years, NTT has been the official technology partner to the Tour de France, working to deliver innovative experiences to fans, and digitally transform race operations.

Last year, NTT extended its solution to support the inaugural women’s race, the Tour de France Femmes avec Zwift.

 

(BUSINESS WIRE) -- NTT Ltd., a leading global IT infrastructure and services company, today announced it is enhancing its technology offering for the Tour de France and Tour de France Femmes avec Zwift to bring IoT, edge connectivity, and edge computing to the forefront of the famous sporting event.

In 2023, NTT will bring a greater focus on the combined value of these technologies for real-time analytics. NTT will integrate IoT and edge to create the world’s largest “connected stadium” by setting up a digital twin of the race, which will connect layers of real-time information to replicate all aspects of the highly dynamic event digitally.

At the core of NTT’s data-gathering are the bikes themselves. Using geolocation, they will transmit a constant stream of latitude, longitude, and speed data over radio networks to race motorcycles or a plane. A microwave signal will then carry the data to the end of the race, where a truck-based edge-computing device will run a containerized version of NTT’s real-time analytics platform.

This year’s race will also see the integration of ChatGPT in NTT’s AI-driven Digital Human solution, which combines machine learning, speech recognition, natural language processing and conversational AI. The digital human platform has been specifically trained on relevant race information and can access detailed information to further enhance the fan experience.

“Combining IoT and edge unlocks a new level of operational excellence and one that can’t be achieved in isolation. Capturing, processing, and analyzing data alongside the unity of these technologies is essential for making every bike a ‘digital twin’ which is the ultimate demonstration of edge computing in action,” said Shahid Ahmed, Group EVP, New Ventures and Innovation at NTT Ltd.

“Having worked with NTT for the past nine years, we’ve seen data become an increasing asset to better explain the race to a mass audience, strongly engage our fans, improve their fan experience and support our race organization’s challenges,” added Julien Goupil, Head of Partnerships & Media at A.S.O.

Following the announcement last year of the integration of NTT Ltd. and NTT DATA to create a $30 billion IT services powerhouse, NTT’s technology partnership with both the Tour de France and Tour de France Femmes avec Zwift now falls under the NTT DATA brand. NTT’s purpose is to transform businesses for success, disrupt industries for good and shape a better society for all.

To find out more about how NTT supports A.S.O., visit: https://services.global.ntt/tourdefrance

Follow @letourdata on Twitter and look for NTT’s race predictions using #NTTPredictor. You can also follow the race live with the official Race Center powered by NTT Data.

-ENDS-

About NTT Ltd.

As part of NTT DATA, a USD 30 billion IT services provider, NTT Ltd. is a leading IT infrastructure and services company serving 65% of the Fortune Global 500 and more than 75% of the Fortune Global 100. We lay the foundation for organizations’ edge-to-cloud networking ecosystem, simplify the complexity of their workloads across multicloud environments, and innovate at the edge of their IT environments where networks, cloud and applications converge. We offer tailored infrastructure and ensure consistent best practices in design and operations across all of our secure, scalable and customizable data centers. On the journey towards a software-defined future, we support organizations with our platform-delivered infrastructure services. We enable a connected future. Visit us at services.global.ntt

About Amaury Sport Organisation

Amaury Sport Organisation is a company that owns, designs and organises top international sporting events. Specialised in the ‘non-stadia’ events, it has in-house knowledge of professions linked to organisation, media and sales of sports events. A.S.O. organises 250 days of competition per year, with 90 events in 30 countries. A.S.O. is involved in 5 major sports including cycling with the Tour de France, motor sports with the Dakar, mass events with the Schneider Electric Marathon de Paris, golf with the Lacoste Ladies Open de France and sailing with production and distribution of images for prestigious races. Amaury Sport Organisation is a subsidiary of the Amaury Group, media and sport group that owns the newspaper L’Équipe.

 

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Hannah Lock

Hotwire for NTT Ltd.

Hannah.lock@hotwireglobal.com

 

Esri Partners with Databricks to Bring Spatial Analytics Functionality to the Lakehouse Platform

 New Partnership Agreement Enables Data Scientists Greater Flexibility to Scale Esri’s ArcGIS Capabilities

(BUSINESS WIRE) -- Data scientists must often transform gigabytes or terabytes of data—collected from trillions of sources—into valuable insights by finding new ways to make their data work harder. Spatial analysis has become a critical piece of the data science toolkit, enriching all forms of data with geographic context. This allows analysts to uncover patterns, make predictions, and optimize workflows to create operational efficiencies. To support the needs of these professionals, Esri, the global leader in location intelligence, has partnered with Databricks, the data and AI company. The collaboration will provide users with the advanced spatial analytics capabilities of Esri’s ArcGIS software easily accessible in Databricks’ big data platform, the Databricks Lakehouse Platform.

“The Databricks Lakehouse Platform merges data engineering, data science, machine learning, and analytics within a single platform and, in many cases, customers also need a powerful spatial component,” said Roger Murff, VP of product partnerships at Databricks. “By having geoanalytics tools run directly in Databricks, it empowers those users to perform spatial analysis at a scale they have come to expect with Databricks.”

Esri offerings that integrate with the Databricks Lakehouse Platform include ArcGIS GeoAnalytics Engine and Big Data Toolkit, which are built specifically to enable users to perform spatial analysis on big datasets.

“Organizations and data practitioners using Databricks need access to spatial tools where they do their day-to-day work,” said Richard Cooke, Esri director of global business development. “The solutions that Esri is providing allow data scientists to access the most comprehensive set of spatial analytics tools available natively within the Databricks environment.”

To learn more about how Databricks users can leverage Esri technology to support spatial analytics on big data, visit the GeoAnalytics Engine product page.

About Esri

Esri, the global market leader in geographic information system (GIS) software, location intelligence, and mapping, helps customers unlock the full potential of data to improve operational and business results. Founded in 1969 in Redlands, California, USA, Esri software is deployed in hundreds of thousands of organizations globally, including Fortune 500 companies, government agencies, nonprofit institutions, and universities. Esri has regional offices, international distributors, and partners providing local support in over 100 countries on six continents. With its pioneering commitment to geospatial technology and analytics, Esri engineers the most innovative solutions that leverage a geographic approach to solving some of the world’s most complex problems by placing them in the crucial context of location. Visit us at Esri.com.

Copyright © 2023 Esri. All rights reserved. Esri, the Esri globe logo, ArcGIS, The Science of Where, esri.com, and @esri.com are trademarks, service marks, or registered marks of Esri in the United States, the European Community, or certain other jurisdictions. Other companies and products or services mentioned herein may be trademarks, service marks, or registered marks of their respective mark owners.

 

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Jo Ann Pruchniewski

Public Relations, Esri

Mobile: 301-693-2643

Email: jpruchniewski@esri.com

 

Board Launches All-New Group Consolidation and Reporting Solution

 LONDON 

Organizations can now unify disparate consolidation and reporting activities with one easy-to-use solution.

(BUSINESS WIRE) -- Board, a leading global provider of Intelligent Planning solutions that empower organizations to plan smarter, take actionable insights, and deliver better outcomes, today announced the launch of the all-new Board Group Consolidation and Reporting offering. Board Group Consolidation and Reporting is offered as part of the Board Intelligent Planning Platform, which accelerates digital transformation of financial processes—while minimizing costs, manual efforts, and risks typically associated with such initiatives.

“The financial consolidation and reporting process can be a significant burden for many organizations, consuming valuable time and resources that could be better utilized to support performance management and decision-making. The Board Intelligent Planning Platform has the power to rapidly bring any finance organization to a leading maturity state, repositioning the business for sustainable growth, establishing planning as a critical decision-making process, and driving accountability and effectiveness,” said Marco Limena, Board CEO.

Utilizing advanced technology, the new Board solution simplifies monthly cycles, improves accuracy, and facilitates regulatory compliance. Innovative features and an intuitive user experience enable organizations to quickly get started and derive immediate business value. Guided processes, a user-friendly configuration wizard, and pre-built content tailored to common reporting standards all work to help maximize efficiency and ROI.

For additional information or to schedule a demo, please visit https://on.board.com/42GpAgY.

About Board:

Board’s Intelligent Planning Platform delivers solutions that help over 2,000 organizations worldwide plan smarter — enabling actionable insights and better outcomes. Placed as a leader in the 2022 Gartner Magic Quadrant for Financial Planning Software, Board helps leading enterprises discover crucial insights which drive business decisions and unify strategy, finance and operations through more integrated and intelligent planning to achieve full control of performance. Working with Board, global enterprises such as H&M, BASF, Burberry, Toyota, Coca-Cola, and HSBC have digitally transformed their planning processes.

Founded in 1994, and now with 25 offices worldwide, Board International is recognized by leading analysts including BARC, Gartner, and IDC.

 

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Victoire Depoix, VP of Global Communications

vdepoix@board.com

Gravity Officially Launches Mobile Idle Relaxing Game ‘WITH: Whale In The High’ for the Global Region!

 Global service for ‘WITH: Whale In The High’ will be opened on June 29th at 3 pm (KST)!

(BUSINESS WIRE) -- Gravity (NASDAQ: GRVY), a global game company, opens its official global service for ‘WITH: Whale In The High’, a mobile relaxing idle game, on June 29th at 3 pm (KST, UTC+9).

‘WITH: Whale In The High (WITH)’ is a mobile relaxing idle game published by Gravity and developed by Skywalk, a mobile game developer. In WITH, the main story unfolds after the main character, Wiz, winds up on the back of a whale by accident.

Users can decorate the Wiz village to their tastes with the main content such as hideout expansion and Wiz decoration while playing the game. Numerous contents including interacting with whales, decorating aquariums, taking pictures, etc., and trendy expressions of each Wiz’s characteristics using MBTI are expected to deliver a variety of entertainment.

The beautiful pastel-colored graphics and high-quality background music further spotlight the peaceful charm of the game. WITH provides services in a total of 13 languages, including English, Korean, and Japanese, with the aim of targeting the global market.

In celebration of the official launch of the WITH for the global region, Gravity provides rewards such as “Crocodile costume sets,” pets, and jewels for Wiz decoration to all users who access the game. Furthermore, various in-game events, including “WITH Festa Event,” will be held to offer abundant benefits.

Kenneth Noh, Global Mobile Business Team Lead at Gravity, said, “In an effort to reward the support from users around the world, we made our utmost efforts in preparing for the launch of WITH for the global region. As WITH provides relaxing elements and various entertainment, we hope that users can escape from exhausting daily routines and chill out at the end of the day while playing WITH. We are kindly asking for great attention and interest."

More details on WITH is available on the official WITH website (https://with.gnjoy.com/).

Gravity Official Website: http://www.gravity.co.kr

WITH Official Website: https://with.gnjoy.com

About Gravity

Gravity Co., Ltd is a Korean game company established in April 2000 and a global game company listed on NASDAQ (GRVY). As of June 30, 2021, the number of global cumulative accounts of Gravity's representative IP, Ragnarok IP, surpassed the 120 million mark. Based on collaboration among its headquarter, subsidiaries, and overseas branches, Gravity is building its global awareness and influence by engaging in a global publishing business that discovers and distributes games of various platforms and genres, including Ragnarok IP games. The company is expediting its content business by developing various goods for Ragnarok, expanding into the animation, IPTV, and webtoon fields, and promoting various brand collaborations.

 

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Contacts

Gravity Co., Ltd.

Sung Choi

+82-2-2132-7016

sungchoi@gravity.co.kr

 

Rimini Street Releases Free Savings Calculators for Oracle and SAP Software that Can Help Identify Hidden Savings Opportunities in Minutes

 LAS VEGAS - Thursday, 29. June 2023 AETOSWire 

New online tools assist Oracle and SAP licensees in pinpointing solutions that can lower total cost of ownership, improve and secure their systems and refocus IT resources towards strategic projects that can lower costs, improve profitability, increase competitiveness and accelerate growth

(BUSINESS WIRE) -- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced two free, online tools that work in minutes to help Oracle and SAP clients identify and unlock significant potential savings from their existing ERP investments: Rimini Street Savings Calculator for Oracle and Rimini Street Savings Calculator for SAP. Clients who choose Rimini Street have saved more than $7 billion to date, at the same time receiving more responsive and higher quality software support and a partnership that furthers their operational success.

Value of Oracle and SAP Vendor Maintenance Fees Diminishes Over Time

Oracle’s and SAP’s profit margin on their annual software support is typically more than 90%, meaning that the software vendors may spend less than 10% of their client’s annual fees on providing service. This can lead to significant gaps against service needs, such as support for custom configurations and customized code (“add ons”) which are common amongst many Oracle and SAP licensees.

After some number of years, both Oracle and SAP arbitrarily downgrade the scope of services available for a particular release level - yet are known to continue charging the same fee (or more) than when full support was available for the release and push for upgrades and migrations to their newest product releases that may not benefit a particular client.

For those who elect to follow the vendor-dictated roadmap, the total cost of ownership of the ERP system usually only increases, whether choosing to upgrade or maintain operations on their current release.

Rimini Street Solutions Provide Higher Value

Rimini Street provides an annual support solution to help its Oracle and SAP clients reverse this expensive, systemic challenge by offering an immediate 50% savings on annual support fees and these other key benefits:

Named, dedicated primary support engineer with an average of 20 years of experience backed by hundreds of engineering talent around the world

Guaranteed 10-minute response to priority cases, with an average of less than two minutes, to address and resolve issues faster, 24/7/365

Support for customizations at the same level as vendor-delivered code

Guaranteed 15 additional years of support from time of contracting to extract maximum value of existing ERP release

Risk avoidance related to system upgrade and migration challenges

Rimini Street Empowers Clients with $7B Savings and Strategic Project Funding

“Industry analysts estimate most companies spend around 90% of their IT budget on daily operating expenses, leaving only 10% for investment in innovation. Rimini Street can help significantly reduce that 90% to 60% with its service solutions, enabling clients to refocus more money, staff and time towards strategic initiatives and projects,” said Seth A. Ravin, CEO, president and chairman, Rimini Street, Inc.

Select Rimini Street client examples include:

HCX Technology Partners, a Philippines-based digital business solutions provider that manages 60,000 perpetual Oracle PeopleSoft licenses for its clients, utilized Rimini Street to help “reduce the number of people providing production support and refocused them on strategic and development projects,” said Crisela de Jesus, department head, HCM and CRM solutions at HCX Technology Partners.

NIBCO, a leading manufacturer of flow-control solutions with a rich history spanning back to 1904, found that the savings achieved by selecting Rimini Street for its SAP support maintenance has helped to “maximize the lifespan of our SAP system and to avoid unnecessarily spending money on upgrades,” said Jeff Miller, director, business relationship management at NIBCO. “We’ve been able to redirect those funds into acquisitions and developing new products. We’re now spending money on growing NIBCO, not just keeping the lights on.”

“We invite all companies using Oracle and SAP to take just a few minutes to leverage our Savings Calculators,” said David Rowe, chief product officer and executive vice president, global transformation at Rimini Street. “Most organizations are delighted to learn the savings from a switch to Rimini Street is much more than the 50% savings in annual support fees, but can also include savings from the avoidance of forced upgrades just to retain full support, support for customizations at no additional charge, and more efficient support processes. The discovery will be eye-opening and highly opportunistic for your business.“

Explore the full Rimini Street portfolio of ultra-responsive, trusted and proven support, managed services, security, integration, observability, professional services and Rimini ONE™ end-to-end outsourcing solutions for SAP, Oracle and Salesforce applications to support competitive advantage, profitability and growth.

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and a Salesforce and AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,100 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted enterprise software solutions provider. To learn more, please visit http://www.riministreet.com, and connect with Rimini Street on Twitter, Facebook and LinkedIn. (IR-RMNI)

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to sustain or achieve revenue growth or profitability and manage our cost of revenue; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle, and risks relating to retention rates; the loss of one or more members of our management team; our ability to attract and retain qualified employees and key personnel; challenges of managing growth profitably; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth; the impact of environmental, social and governance (ESG) matters; actions in response to any lingering impacts of the COVID-19 pandemic and its economic, operational and financial impacts on our business; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate tax reserves; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street’s equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 3, 2023, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2023 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

 

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Contacts

Janet Ravin

VP, Global Communications

Rimini Street, Inc.

+1 702 285-3532

pr@riministreet.com

 

Fidelis Insurance Holdings Limited Announces Pricing of Initial Public Offering

(BUSINESS WIRE) -- Fidelis Insurance Holdings Limited, a global (re)insurance company, headquartered in Bermuda with offices in Ireland and the United Kingdom (the “Company”), announced today the pricing of its initial public offering of an aggregate of 15,000,000 common shares at a price to the public of $14.00 per common share. Of the offered shares, 7,142,857 are being offered by the Company and 7,857,143 are being offered by certain of the Company’s existing shareholders. In addition, the underwriters have been granted a 30-day option to buy up to an additional 2,250,000 common shares from the selling shareholders at the initial public offering price, less underwriting discounts and commissions. The common shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "FIHL" on June 29, 2023, and the offering is expected to close on July 3, 2023, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds it receives from the offering to make capital contributions to its insurance operating subsidiaries, which, together with other sources of liquidity, should enable the Company to take advantage of the ongoing rate hardening in the key markets in which it participates by writing more business under its planned strategy. The Company will not receive any of the proceeds from the sale of its common shares by the selling shareholders.

J.P. Morgan, Barclays and Jefferies are acting as Joint Lead Bookrunning Managers for the offering. Keefe, Bruyette & Woods, a Stifel company, BMO Capital Markets, Citigroup and UBS Investment Bank are acting as Joint Bookrunning Managers for the offering. JMP Securities, A Citizens Company and Dowling & Partners Securities are acting as co-managers for the offering.

The offering of the Company’s common shares is being made only by means of a prospectus. When available, copies of the final prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-866-471-2526 or by email at prospectus-eq_fi@jpmchase.com; Barclays Capital Inc. c/o Broadridge Financial Solutions, 115 Long Island Avenue Edgewood, NY 11717, by telephone at (888) 603-5847 or by email at Barclaysprospectus@broadridge.com; and Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com.

A registration statement relating to the common shares was declared effective by the Securities and Exchange Commission on June 28, 2023. This press release does not constitute an offer to sell or the solicitation of an offer to buy the common shares, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

About Fidelis

Fidelis Insurance Group (“FIHL”) is a global (re)insurance company, headquartered in Bermuda with offices in Ireland and the United Kingdom. Our business focuses on three pillars: Specialty, Bespoke, and Reinsurance. We manage volatility thorough our balanced and diversified portfolio. Our strong capital position provides us with the flexibility to engage in attractive underwriting opportunities.

Forward-Looking Statements

This press release may include forward-looking statements. The words "expect", "intends", “should,” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates. The forward-looking statements in this press release are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

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Contacts

Investor Inquiries:

IR@fidelisinsurance.com

Media Inquiries:

fidelis@teneo.com

The Empire State Building and Space Needle Team Up to Celebrate the 30th Anniversary of Sleepless in Seattle

 Cross-Country Sweepstakes, Special Movie Screenings, and Coordinated Lightings

Sleepless in Seattle is available to buy on disc and digital

(BUSINESS WIRE)--The Empire State Building and Space Needle announces a special collaboration today to celebrate 30 years since the June 1993 theatrical release of the movie Sleepless in Seattle. The coast-to-coast collaboration – supported by Sony Pictures Home Entertainment, Alaska Airlines, Visit Seattle, New York City Tourism + Conventions, and Seattle Center – will include a simultaneous lighting of both landmarks; special screenings of the beloved film; activations at both attractions; and a sweepstakes for two lucky winners to relive some of the major cinematic moments with a weeklong trip to both Seattle and New York City.

“As Sleepless in Seattle superfans, we’ve had a front row seat to guests from around the world living out their romantic comedy dreams in the Emerald City,” said Randy Coté, Chief Marketing Officer for the Space Needle. “There’s no denying that Sleepless in Seattle has connected millions of people together, from Seattle to NYC, and everywhere in between. The Space Needle is thrilled to collaborate with the Empire State Building to help even more people make memories by celebrating the 30th anniversary this summer!”

“The Empire State Building and its reimagined Observatory have been featured in countless movie moments, and one of the most beloved for many will always be Sleepless in Seattle, which culminates at the top of the ‘World’s Most Romantic Building’ right here in the heart of Manhattan,” said Jean-Yves Ghazi, president of the Empire State Building Observatory. “We are delighted to honor the anniversary of such a film with our friends in Seattle and celebrate the warmth and love that fans continue to feel 30 years later as they watch the movie and then visit us to experience it for themselves.”

Celebrations around the anniversary will include the following:

“It’s a Sign” – On June 30 at sunset, both the Empire State Building and the Space Needle will light up together – the Space Needle in red, and the Empire State Building in lavender and red with a heart spinning in the tower’s mast to resemble the original movie artwork and the “sign” that led Annie Reed character back to the top of the Empire State Building.

Special Anniversary Screenings

On July 1 at 9:30 p.m., Seattle Center will screen the film at the Mural Amphitheater. This one-night-only movie showing is free and open to the public (no ticket required; first-come, first-served). Located in the heart of Downtown, Seattle Center is home to the Space Needle and many other top attractions. The Mural Amphitheater is an outdoor greenspace with the Space Needle as the backdrop just minutes from the Puget Sound and Pike Place Market. The Amphitheatre serves as a primary venue for major summer festivals, like Movies at the Mural series.

Visitors to the Empire State Building Observatory can purchase a special ticket to view Sleepless in Seattle from a private area on the 80th Floor on July 9 at 9 p.m., with complimentary soda, candy and popcorn provided (more information and tickets available here). All Observatory guests can view the iconic scenes from the film that feature the Empire State Building in the new “World’s Most Famous Building” exhibit, part of a recent $165 million reimagination of the experience.

Recreate the Magic: From June 29 through July 3, visitors to both the Empire State Building Observatory and the Space Needle can recreate the iconic movie poster from Sleepless in Seattle as they pose for their authentic shot. Guests are encouraged to share these photos using the hashtag #Sleepless30. Guests of the Space Needle will also be able to experience themed cocktails at Space Needle Bar June 30 through July 2, with fun names that include Baltimore Sun (a take on Annie’s cosmo), Teddy Bear (a non-alcoholic kids drink with a gummy bear garnish), Never Settle (a spin on Walter’s Old Fashioned) and Sleepless in Seattle (Sam’s martini).

Sleepless in Seattle Sweepstakes: Entries for the Sleepless in Seattle Sweepstakes are open today, June 26, and run until midnight on July 21 online at sleepless30.com. One winner will be randomly selected and announced on August 7. The winner will receive a six-night trip for two to both Seattle and New York City, which will include complimentary flights from their home city to both cities and back, courtesy of Alaska Airlines (rules/restrictions apply), as well as:

In Seattle, a three-night stay at The Pan Pacific Hotel in Downtown Seattle with views of Space Needle; an exclusive VIP tour of Space Needle with dinner for two at the upscale Loupe Lounge on the world’s first and only revolving glass floor; Two complimentary CityPass tickets to enjoy some of the best attractions in Seattle, including an Argosy Cruise to tour Lake Union’s famous houseboats, to glimpse Sam’s actual houseboat residence from the movie; plus a $500 gift card towards experiencing the movie’s iconic locations, including the world-famous Pike Place Market, Alki Beach and Gas Works Park.

In New York City – a three-night stay at the five-star Langham, New York, Fifth Avenue; two weekly unlimited Metro cards and complimentary CityPass to see the best of the city; and an all-access tour of the Empire State Building with special callouts of all the important details/locations from the film, followed by a special prix fixe dinner with wine pairing at STATE Grill & Bar, the Empire State Building’s signature restaurant.

Hi-res imagery of the partnership, the lighting of both buildings, and the full elements of the sweepstakes can be found here.

About the Empire State Building

The Empire State Building, the “World's Most Famous Building," owned by Empire State Realty Trust, Inc. (ESRT: NYSE), soars 1,454 feet above Midtown Manhattan from base to antenna. The $165 million reimagination of the Empire State Building Observatory Experience creates an all-new experience with a dedicated guest entrance, an interactive museum with nine galleries, and a redesigned 102nd Floor Observatory with floor-to-ceiling windows. The journey to the world-famous 86th Floor Observatory, the only 360-degree, open-air observatory with views of New York and beyond, orients visitors for their entire New York City experience and covers everything from the building's iconic history to its current place in pop culture. The Empire State Building Observatory Experience welcomes millions of visitors each year and was declared "America's Favorite Building" by the American Institute of Architects, the world's most popular travel destination by Uber, the #1 attraction in the US for the second year in a row in Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best, and the #1 New York City attraction by Lonely Planet.

Since 2011, the building has been fully powered by renewable wind electricity, and its many floors house a diverse array of office tenants such as LinkedIn and Shutterstock, as well as retail options like STATE Grill and Bar, Tacombi, and Starbucks. For more information and Observatory Experience tickets visit esbnyc.com or follow the building's Facebook, Twitter, Instagram, Weibo, YouTube, or TikTok.

About the Space Needle

Built as the centerpiece and inspiration for the 1962 Seattle World’s Fair, the Space Needle has since become a part of the Seattle experience and the globally recognized icon for the city. Located at Seattle Center, the landmark stands at 605 feet tall and is one of the most photographed structures in the world.

The Space Needle’s recent $100 million renovation added more than 176 tons of glass to the structure offering unparalleled views of Seattle, Mt. Rainier, Puget Sound, and the Cascade and Olympic mountain ranges. The Space Needle also houses The Loupe — the world’s first and only revolving glass floor. Open year-round, the Space Needle hosts more than a million visitors per year.

For more information visit spaceneedle.com or follow the Needle on Facebook, Twitter, Instagram, or TikTok.

 

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Contacts

 

MEDIA:

Empire State Building

Brock Talbot

347-804-7863

btalbot@esrtreit.com

Space Needle

Sienna Spencer-Markles

818-281-7416

Siennasm@spaceneedle.com

 

Linksys Announces Velop Pro 6E Mesh System with High-Performance Connectivity at a Competitive Price

 IRVINE, Calif. - Wednesday, 28. June 2023 AETOSWire Print 

Quicker system setup, new Designer Series droplet design, and the power of WiFi 6E

(BUSINESS WIRE)--Linksys, a global innovator in WiFi technology, today announces the latest addition to its WiFi 6E product portfolio – the Linksys Velop Pro 6E, first of its new Designer Series using the “nature inspired” droplet design, along with advanced features that provide the ultimate WiFi 6E experience at an affordable price point.

WiFi 6E offers an extra 6GHz band connection that helps cut down on interference and improves speeds to your connected devices. Powered by the Qualcomm® Immersive Home 316 Platform, the Linksys Velop Pro 6E brings incredible range and coverage with WiFi 6E, enabling users to stream, download, or work with a faster and wider connection, and more devices on their network. Each tri-band node has one 1Gbps Ethernet LAN port for connecting wired devices to wireless networks. With the latest Linksys Mobile App, the Velop Pro 6E is easily set up in under 10 minutes*, and managed remotely with security and other useful features such as guest access, parental controls, and more.

“Today a Connected Home with ubiquitous Wi-Fi is the new normal, but people want the network devices to blend into their decor,” said Vice President of Experience, Jeevan Patil. “We have acted on that demand with our Velop Pro 6E, the first in our new Designer Series, using our droplet design, inspired by nature, in colors such as Carbon Black, Pebble Gray, and Pure White.”

“People not only want the home network device to blend in, but they want to install it quickly,” said Principal Engineer, Michael Forbes. “With our Velop Pro 6E, we reduced the setup time by two thirds, so a complete system can be setup and operational in under 10 minutes.”

The Linksys Velop Pro 6E is available in three configurations with the 1-pack starting at $199. The 1-pack covers ~3,000 square feet, the 2-pack covers ~6,000 square feet, and the 3-pack covers up to ~9,000 square feet. The Velop Pro 6E joins Linksys’ WiFi 6 lineup including the Hydra Pro 6E and Atlas Max 6E.

Additional Features and Benefits

Improved setup – With a quick and easy process, users can set up 3 nodes in under 10 minutes.

Security – Protect your devices with automatic security updates, a separate guest network, and other advanced features through the app.

Fortinet DNS Filtering – Powered by Fortinet’s FortiGuard Labs threat research team, the FortiGuard DNS Filtering Service guards against user connections to malicious or inappropriate websites and content.

Stable, blazing-fast coverage – Qualcomm® Immersive Home 316 Platform blends innovative mesh capabilities with advanced WiFi 6E features.

New form factor – Latest droplet design brings improved thermal management, coverage, and performance in a more compact footprint.

Revised packaging – New recyclable packaging made from 65% recycled material.

Improved mesh technology – Providing users a simple self-optimized capability for collaboration, streaming, gaming, or large gatherings with multiple devices. The network is automatically monitored regularly to ensure a quality experience.

Availability and Imagery

The Linksys Velop Pro 6E will be available July 16th for MSRP $199.99 (1-pack), $349.99 (2-pack), and $499.99 (3-pack) on Linksys.com and select retailers. Imagery and assets can be found here.

About Linksys

Linksys is an iconic brand celebrating its 35th year of innovation in Home Connectivity. Linksys has many industry firsts to its credit and are proven experts at delivering simpler, faster, and reliable connectivity products for the Home at affordable prices. “At Linksys, we engineer simplicity so that you never experience complexity.”

*Setup times and performance results may vary for your unique home network.

Linksys and many product names and logos are trademarks of Linksys Holdings Inc. and/or its affiliates. Third-party trademarks mentioned are the property of their respective owners. Qualcomm Networking Pro 620 platform is a product of Qualcomm Technologies Inc. and/or its subsidiaries. Qualcomm is a trademark or registered trademark of Qualcomm Incorporated.

© 2023 Linksys Holdings, Inc. and/or its affiliates. All rights reserved.

 

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Linksys@axicom.com

Thermo Fisher Scientific Introduces Tumoroid Culture Medium to Accelerate Development of Novel Cancer Therapies

 CARLSBAD, Calif. - Wednesday, 28. June 2023

Gibco™ OncoPro™ Tumoroid Culture Medium Kit broadens access to clinically relevant patient-derived tumor models

(BUSINESS WIRE)--Thermo Fisher Scientific, the world leader in serving science, today announced the launch of the Gibco™ OncoPro™ Tumoroid Culture Medium Kit*, the first commercially available culture medium specifically developed for the expansion of patient-derived tumoroids, or cancer organoids, from multiple cancer indications.

While cancer remains a leading cause of death globallyi ,hurdles remain in bringing new cancer therapies to patients, with up to 97% of drug candidates failing in clinical trialsii. More closely resembling donor tissue than traditional 2D cell models, patient-derived tumoroids – cultures of tumor cells derived from individual patients – hold promise in helping improve clinical trial success rates by enabling researchers to better model disease and predict patient response to therapeutics in vitro. Yet use of tumoroids in cancer research has been limited due to challenging culture requirements and a lack of commercially available media systems. Thermo Fisher’s new off-the-shelf, modular tumoroid culture medium kit is designed to make complex cancer models more accessible to researchers.

“Cancer’s unpredictable nature presents a significant scientific and clinical challenge for future discoveries and in delivering life-saving treatments to patients,” said Brian Douglass, vice president and general manager, cell biology at Thermo Fisher Scientific. “Globally, millions of patients and their families still await a cure for cancer despite the decades of advances in research, diagnostics and treatments aimed at helping lower cancer mortality. We developed the new OncoPro Tumoroid Culture Medium Kit so the scientific community can take greater advantage of tumoroid models to help bring drug candidates to market faster and more cost-effectively.”

Thermo Fisher is dedicated to supporting scientists as they elucidate tumoroid workflows and protocols. In addition to democratizing this workflow through the OncoPro Tumoroid Media system, Tumoroid Assay Development Services support outsourced screening and characterization. Customers may also leverage 7 unique OncoPro Tumoroid Cell Lines, representing four different cancer indications including colorectal, lung, endometrial and breast. To improve ease of use, the OncoPro Tumoroid Culture Medium Kit includes a scalable, automation-compatible suspension culture method.

“It is well known that tumor organoids are more predictive of clinical outcomes, adverse events and resistance mechanisms than established 2D cell line counterparts,” said Erik Goka, PhD, vice president of biology at Revere Pharmaceuticals. “The OncoPro Tumoroid Culture Medium Kit allows us to seamlessly integrate tumoroids into our research and drug discovery processes. With the tumoroid media system, we can propagate all our organoid models in the same culture medium system irrespective of the tissue of origin. This media system has been instrumental in allowing us to bring tumor organoids into our lab for everyday use.”

In keeping with Thermo Fisher’s mission of enabling its customers to make the world healthier, cleaner and safer, OncoPro Tumoroid Culture Medium Kit will not require a license for commercial use**.

To learn more about Thermo Fisher’s OncoPro Tumoroid Culture Medium Kit, please visit thermofisher.com/oncopro.

*For research use only. Not for use in diagnostic procedures.
**Excludes diagnostic, clinical and further manufacturing applications.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of more than $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

i https://www.who.int/news-room/fact-sheets/detail/cancer
ii https://www.science.org/doi/10.1126/scitranslmed.aaw8412

 

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Contacts
 

Media Contact Information:
Kristin Blake
Phone: 760-637-1166
Email: kristin.blake@thermofisher.com