Philips to postpone its Capital Markets Day to the fourth quarter of 2020

March 31, 2020

Amsterdam, the Netherlands – In connection with the coronavirus disease (COVID-19) outbreak and related precautionary measures, Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that it will postpone its Capital Markets Day – which was scheduled to take place in London (UK) on May 13, 2020 –  to the fourth quarter of 2020.

In the fourth quarter of this year, Philips also plans to provide an update on the company’s medium-term financial targets and performance trajectory for the period after 2020.

Further details about the new date and the venue of Philips’ 2020 Capital Markets Day will be announced in due course. Investors and analysts are advised to regularly check the company’s website (www.philips.com/investorrelations) for updates.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 1521 3446
E-mail: ben.zwirs@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 5977055
E-mail: derya.guzel@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips’ health technology portfolio generated 2019 sales of EUR 19.5 billion and employs approximately 80,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

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Årsrapport 2019

Herlev 31. marts 2020

Selskabsmeddelelse 10/2020

Årsregnskab 2019 + frasalg af aktivitet:

SIG A/S præsterede i 2019 et tilfredsstillende EBIT resultat, som samtidig blev afsættet til frasalget af den danske aktivitet med closing pr. 31/12-2019. Frasalget var samtidig en tilfredsstillende eksekvering af strategien fra juni 2018.

Omsætningen blev på 324 mio. DKK og EBIT DKK 8,3 mio. for den danske aktivitet inklusiv indretning af nyt lager/hovedkontor i Horsens og efter regnskabsteknisk indregning af warrants på DKK – 0,8 mio. – hvilket ledelse og bestyrelse vil betegne som meget tilfredsstillende. Som følge af frasalget er den danske aktivitet præsenteret under ophørende aktiviteter.

EBIT på den frasolgte aktivitet blev DKK 9,8 mio.

Selskabets egenkapital pr. 31/12-2020 udgør DKK 102,4 mio. svarende til en indre værdi pr. aktie på DKK 1,95 og udvandet indre værdi pr. aktie på DKK 1,91. Indre værdi pr. aktie er således lidt højere end estimeret ved indgåelse af betinget aftale om salg af alle driftsmæssige aktiviteter, (jf. selskabsmeddelelse 11/2019), hvor indre værdi pr. aktie blev estimeret til DKK 1,91.

Årets begivenheder

Eksekvering af strategi 2018-2021:

På den ekstraordinær generalforsamling den 4. juni 2018 blev en ny 3 års strategi for selskabet lanceret, med arbejdstitlen – “En ny begyndelse”. Denne strategi betød en turnaround proces og oprydning i selskabet, som medførte et tilfredsstillende resultat i 2018, og i forlængelse heraf blev en strategisk review proces påbegyndt i marts 2019. Denne proces medførte salget af den danske aktivitet for en samlet værdi på DKK 112.5 mio. før regulering af kontant bankindestående samt afholdelse af transaktionsomkostninger med virkning fra 31/12-2019, hvorefter aktiviteten i DLH overgik til et nyt selskab. Det børsnoterede selskab fortsætter i henhold til at videreføre den eksisterende formålsparagraf med fokus på opkøb af industriselskaber samt udlejningsejendomme.

Organisatoriske ændringer:

På baggrund af frasalget af den danske aktivitet, hvor alle medarbejdere og direktøren fulgte med over i det nye selskab, foretog SIG et internt ledelsesskifte i og med at bestyrelsesformand Michael Hove blev selskabets fortsættende direktør fra og med 1 januar 2020, og derudover blev en ny bestyrelse med Søren Dal Thomsen som ny formand præsenteret. Den nye bestyrelse besidder kompetencer indenfor opkøb af industriselskaber & udlejningsejendomme, og blev valgt på den ekstraordinære generalforsamling d. 24. januar 2020.

Navneskifte/Ny visuel identitet:

Ifm. salget af den danske aktivitet foretog det fortsættende børsnoterede selskab et navneskifte til Scandinavian Investment Group A/S, og gennemgik herefter en visuel identitetsforandring med nyt logo og opdateret hjemmeside. Det er målsætningen, at alle informationer om selskabet fremover vil blive reflekteret på hjemmesiden.

IT struktur/ERP system:

I 2018 blev det som led i fremtidens digitalisering og effektivisering af selskabets IT-struktur besluttet, at SIG skulle påbegynde en etablering af et nyt ERP-system og en ny IT-infrastruktur, som påvirkede selskabets omkostningsstruktur igennem hele 2019. Systemet blev endeligt implementeret og fuldt overdraget til køber pr.  31/12-2019, og vil således ikke fremover have nogen effekt på driften i SIG A/S.

Warrantprogram:

Selskabet besluttede som led i et incitamentsprogram til ledelse, medarbejdere og bestyrelse et incitament program d. 4. juni 2018 i form af et warrant program, som udelukkende er opbygget omkring selskabets evne til at skabe værdi for aktionærerne. Warrantprogrammet har påvirket EBIT for 2019 med DKK – 0,8 mio. og i 2020 med forventet DKK – 0,2 mio.

Salg og køb af egne aktier:

På den ekstraordinære generalforsamling den 5. december 2019 (Meddelelse 15/2019) blev det besluttet at tilbagekøbe i alt 1.011.654 stk. medarbejderaktier til kurs DKK 1,91 som led i frasalget. Selskabets egenbeholdning pr. 31/12-2019 udgjorde 2.039.592 svarende til 3,81% af aktiekapitalen.

Selskabets fremadrettede strategi:

Efter frasalget har bestyrelsen foretaget en grundig evaluering af hvordan værdierne for selskabets aktionærer bevares bedst muligt, og har konkluderet at fortsætte driften under den gældende formålsparagraf med særskilt fokus på opkøb af industriselskaber samt udlejningsejendomme.

Året 2020 vil blive brugt til at identificere attraktive aktiver, som fremover vil bidrage til selskabets målsætning om at forrente sin egenkapital med 12% inkl. forrentning af gearing af egenkapitalen på op til 150%, hvilket er selskabets målsætning når egenkapitalen er fuldt investeret.

Det forventes at forretningsmålsætningen vil blive opfyldt fra og med regnskabsåret 2021, dog med forbehold for de generelle usikkerheder omkring Corona virussens effekt på markederne. Når selskabet er fuldt investeret ift. den nuværende egenkapital, vil selskabet undersøge muligheden for at bruge sin bemyndigelse i vedtægterne omkring en eller flere kapitaludvidelser for at løfte selskabets balance/indtjeningsevne, hvis muligheden byder sig for at investere i attraktive aktiver.

Nyt aktietilbagekøbsprogram:

Bestyrelsen har besluttet at iværksætte et aktietilbagekøbsprogram i overensstemmelse med generalforsamlingsbemyndigelse af 24. april 2019.

Aktietilbagekøbet løber i perioden fra og med den 1. april 2020 til og med den 1. oktober 2020. I denne periode vil Selskabet købe egne aktier op til maksimalt 10,0 % af aktiekapitalen i et aktietilbagekøbsprogram efter bestemmelserne i EU’s forordning nr. 596/2014 af 16. april 2014 og EU’s forordning 2016/1052 om supplerende regler til forordning nr. 596/2014, den såkaldte ”Safe Harbour” metode, som værner børsnoterede selskaber og deres bestyrelse og direktion imod overtrædelse af forbuddene mod markedsmisbrug i forbindelse med aktietilbagekøb.

Selskabet besidder per 1. april 2020 2.039.592 svarende til 3,81% af aktiekapitalen

Betingelser for tilbagekøbsprogrammet:

  • Formålet med aktietilbagekøbet er at opfylde eventuelle forpligtelser som følge af aktieoptionsprogrammer eller lignende til ledelsen eller ansatte i Selskabet.
  • Selskabet har udpeget ABG Sundal Collier som finansiel rådgiver og lead manager for aktietilbagekøbet, som uafhængigt af og uden indflydelse fra Selskabet træffer sine handelsbeslutninger og eksekverer aktietilbagekøbet inden for de offentliggjorte rammer.
  • Aktietilbagekøbet er begrænset til en maksimal værdi på optil 10% af aktiekapitalen, dog giver generalforsamlingsbemyndigelsen mulighed for at eje op til 25% af egne aktier.
  • Det maksimale antal aktier, der kan erhverves udgør 1.658.528 stk. aktier á nominelt DKK 0,5 eller multipla heraf.
  • Tilbagekøbet må ikke ske til en aktiekurs, der overstiger 10% af den seneste uafhøngige aktiehandel Der må ikke på en enkelt handelsdag købes mere end 25 % af den gennemsnitlige volumen af Selskabets aktier, der er blevet handlet på Nasdaq Copenhagen A/S de foregående 20 handelsdage.
  • Selskabet vil ugentligt offentliggøre en separat meddelelse til Nasdaq Copenhagen A/S og annoncere antallet af tilbagekøbte aktier og deres værdi (den vægtede gennemsnitskurs pr. dag og pr. markedsplads).
  • Vedhæftet den ugentlige meddelelse, vil transaktionerne relateret til aktietilbagekøbsprogrammet ligeledes blive præsenteret i detaljeret form, i overensstemmelse med EU’s forordning 2016/1052 om supplerende regler til forordning nr. 596/2014
  • Selskabet forbeholder sig retten til, på ethvert tidspunkt, efter meddelelse herom via Nasdaq Copenhagen A/S, at suspendere eller indstille aktietilbagekøbsprogrammet.

Ophørende aktiviteter:

Parallelt med at selskabet søger nye aktiviteter at investere i, opretholdes processen med at afhænde- og/eller afvikle alle ophørende aktiviteter stadig. Arbejdet hermed er i 2019 nået langt, og koncernen har nu kun 1 ophørende datterselskab tilbage, der ikke relaterer sig til den fortsættende forretning, og som rapporteres som ophørende aktiviteter. Vi vil fortsat arbejde intensivt med afhændelsen/afviklingen, som i det væsentlige forventes afsluttet i 2020.

Efterfølgende begivenheder:

Der er indtil årsrapportens aflæggelse den 31. marts 2020 ikke indtruffet begivenheder, som vil påvirke den økonomiske og finansielle stilling i årsrapporten.

Øvrige begivenheder efter balancedagen:

  • Den 1. januar 2020 tiltrådte Michael Hove som administrerende direktør.
  • Tilgodehavendet fra salget (DKK 101,8 mio) blev modtaget den 2. januar 2020.
  • SIG solgte i januar 2020 sin ejerandel af regnskoven Caceres Florestal AS for DKK 2.66 mio.  Ejerandelen stod bogført til DKK 1.74 mio.
  • I marts 2020 erhvervede selskabet en ejendom beliggende Fabriksvej 2 og 3, 8800 Viborg for en kontant købspris på DKK 54,9 mio. (Selskabsmeddelelse 7/2020 og 8/2020).
  • SIG har fået en ny storaktionær idet investeringsselskabet AHJ A/S i marts 2020 har flaget et ejerskab på 28,16% af aktiekapitalen.

Forventninger til 2020:

2020 vil blive et transformationsår for SIG, hvor en række aktiver vil blive evalueret kritisk og egenkapitalen successivt blive investeret i nye aktiviteter ift. selskabets strategi i takt med at selskabet fortsat afvikler den sidste del af den ophørende forretning.

Set i lyset af den usikkerhed som Corona virussen generelt har skabt på markedet, er selskabet ekstra kritisk med at vurdere de aktiver som fremadrettet skal danne forretningsgrundlaget for SIG. På den baggrund vil selskabet afstå for at komme med en specifik guidance for 2020 indtil der kommer mere klarhed over hvilke aktivklasser selskabet investerer i samt Corona virussens omfang og påvirkning af den skandinaviske økonomi.

Kontakt:

Evt. spørgsmål til denne meddelelse kan rettes til CEO Michael Hove på 28126609 eller mail mh@sca-inv-group.dk

Venlig hilsen

Bestyrelsen

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SweeGen Accelerates Global Expansion with New Food and Beverage Application Centers in North America, Europe, Asia-Pacific and Latin America

New centers enable deep collaboration with global and regional customers on sugar reduction and taste innovations

Rancho Santa Margarita, Calif., March 30, 2020 (GLOBE NEWSWIRE) — Global food and beverage manufacturers can now easily create and collaborate on exploring sugar reduction solutions with SweeGen in its newly launched Food and Beverage Application Centers located in four global regions — North America, Europe, Asia-Pacific and Latin America.

The centers will create synergy and local interaction with new and existing customers thereby accelerating new product development reflecting local consumer preferences in taste, flavors and ingredients.

“This expansion on application and technical support into local markets is our continuing commitment to provide a unique sugar reduced solution that rapidly reduces product development time for our customers, and delivers a winning product for the region, said Shari Mahon, S.V.P., application technology. “Each facility will feature a full spectrum of development capabilities supporting beverage, dairy, confectionery, snack and bakery foods.”

The flagship California center opened first this year. Mexico and Europe to follow, and Asia-Pacific slated to open by the end of 2020. The opening of the European center will coincide with an anticipated EFSA approval of the company’s Rebaudioside M stevia sweetener in Europe. Additionally, and planned to open later this year in Europe, the company will produce more than 3,000 metric tons of stevia sweeteners per year at its new manufacturing site.

The personalized customer service at the centers is just one of SweeGen’s competitive advantages. SweeGen also provides manufacturers access to reliable high purity world-scale supply of best tasting zero-calorie stevia sweeteners.

“The investment we’ve made in our new application centers is an investment we’ve made in our customer relationships and their businesses,” said Luca Giannone, vice president of sales and marketing. “We see stevia as the preferred global ingredient for sugar reduction and that’s possible because SweeGen scales the production of Reb M, D and E to world levels.”

SweeGen’s Bestevia Taste Solutions a proprietary taste and sweetener platform, featuring its e+ stevia sweetener that delivers a clean stevia taste at a price advantage over single stevia sweetener solutions. With a non-GMO Project Verification, Bestevia enables manufacturers to meet the needs of today’s label-conscious consumers.

“Globally, consumers are looking for healthier options as they continue to reduce the amount of sugar in their diets, and SweeGen is creating collaborative spaces to support food and beverage manufacturers in their application development — from start to finish,” said Katharina Pueller, SweeGen’s director of natural sweetener business. “Our SweeGen Food and Beverage Application Centers provide expert support to manufacturers seeking to be part of the global sugar reduction solution.”

The company expansion comes at a time when concerns of global sugar reduction are prevalent in health and diet discussions. Governments are responding with new measures to limit sugar consumption including bans and taxes. These dynamics are driving companies to conceptualize new products and reformulate iconic brands that meet the new reality of consumer needs and government regulations.

About SweeGen

SweeGen, Inc., is dedicated to the development, production and distribution of non- caloric sweeteners for the food, flavor and beverage industries. SweeGen’s robust product pipeline, intellectual property portfolio, and dedicated manufacturing capacity and R&D provide the foundation for innovation and delivery of high-quality sweeteners. For more information please contact info@sweegen.com and visit Sweegen’s website, www.sweegen.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements, including, among other statements, statements regarding the future prospects for Bestevia Taste Solutions and Rebs M, D and E stevia leaf sweeteners. These statements are based on current expectations, but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of SweeGen, Inc.

Relevant risks and uncertainties include those referenced in the historic filings of SweeGen, Inc. with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements, and therefore should be carefully considered. SweeGen, Inc. assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.

Attachment

Ana Arakelian
SweeGen, Inc.
+1-949-709-0583 and Mobile +1-949-750-6812
ana.arakelian@sweegen.com

EdtechX Holdings (NASDAQ:EDTX) and Meten International Announce Successful Merger Closing and Capital Raise

Meten EdTechX

Meten EdtechX combined logo

London, March 30, 2020 (GLOBE NEWSWIRE) — EdtechX Holdings (NASDAQ:EDTX) and Meten International Announce
Successful Merger Closing and Capital Raise

EdtechX Holdings Acquisition Corp. (“EdtechX”) (Nasdaq: EDTX), the world’s first special purpose acquisition company focused on investing in the education services and education technology industry, and Meten International Education Group (“Meten”), a leading English language training (“ELT”) service provider in China, announced today that they have successfully completed their previously announced merger transaction.

The combined entity will operate as Meten EdtechX Education Group Ltd. (“Meten EdtechX”) and will continue to focus on providing English language and future skills training for Chinese students and professionals.

In connection with the closing of the merger transaction, EdtechX and Meten completed the private placement of US$ 36 million from institutional investors including Azimut (AZM.MI), a leading Italian asset manager with assets under management of more than US$ 60 billion, and Xiamen ITG Holding Group, a Fortune Global 500 Company engaged in range of industries across China including education. These investments add to the previous investments into Meten by China International Capital Corporation (CICC, 3908.HK) and private equity funds affiliated with Tsinghua University. The transaction is expected to accelerate the expansion of Meten’s ELT offering and its fast-growing digital platform, ‘Likeshuo’, as well as fund potential synergistic and accretive acquisitions in China and internationally.

Commenting on the announcement, Benjamin Vedrenne-Cloquet, CEO of EdtechX, and Charles McIntyre, Chairman and Chief Investment Officer of EdtechX, jointly said:

“We believe that the closing of these simultaneous transactions during these unprecedented market conditions is a significant achievement. It is testament to the strong fundamentals of the Chinese ELT market, characterized by rapid growth in demand for practical English language learning, and the robust expansion strategy pursued by Meten EdtechX which leverages an efficient omnichannel business model and technology to deliver profitable growth.”

“While the current COVID-19 pandemic continues to affect global economies, it has also created the conditions for accelerated adoption of online education and training globally. This is a trend we expect to continue in the long term”.

Alan Peng, Chief Executive Officer of Meten International Education Group, commented:

“The closing of this merger marks a significant milestone for Meten, an achievement made possible through the support of investors across the world and the dedication of management teams on both sides of the transaction. We look forward to working with Benjamin and Charles to deliver our growth strategy, taking full advantage of the extensive industry experience of our new board directors and the additional funding raised in connection with the transaction.”

Meten EdtechX’s ordinary shares will trade on the Nasdaq stock exchange under the symbol METX. Benjamin Vedrenne-Cloquet and Charles McIntyre have joined the Board of Meten EdtechX as independent directors to support Meten’s founders and management team with international investor relations and the implementation of their acquisition and digital expansion strategy.

Chardan acted as financial and capital markets advisor to EdtechX. Macquarie acted as financial advisor to Meten. Graubard Miller LLP acted as legal counsel to EdtechX and Morgan, Lewis & Bockius and Conyers acted as legal counsels to Meten. Loeb & Loeb acted as special legal advisor to Chardan. Citigate Dewe Rogerson and Inbound Capital acted as Investor Relation advisors for the merged entity Meten EdtechX.

Investor Relation Website: http://investor.metenedu-edtechx.com/

About Meten International Education Group

Meten is a leading English language training (“ELT”) service provider in China, delivering English language and future skills training for Chinese students and professionals.

Meten benefits from a highly efficient business model, which leverages the synergies between its nationwide network of 149 learning centres and sophisticated digital platform, Likeshuo, to deliver profitable growth.

Meten’s superior teaching quality and student satisfaction is underpinned by cutting edge technology deployed across the business. AI-driven centralised teaching and management systems record and analyse learning processes in real time and personalise course content, facilitating continuous development of the course offering and strict quality control.

Meten has grown rapidly and profitably to reach $200 million (RMB 1,424 million) in revenue and $20.1 million (RMB 144 million) in adjusted EBITDA in 2018, up from $113.9 million (RMB 802 million) in revenue and $2.4 million (RMB 17.1 million) in EBITDA in 2016, representing a two-year revenue CAGR of 33% and two-year EBITDA CAGR of 190%. It has closed the 2019 financial year with gross billings in line with management expectations, and its projected normalized adjusted EBITDA and adjusted net income for 2019 are $19.9 million (RMB 135.0 million) and $9.0 million (RMB 64.0 million), respectively, after taking into account certain one-off events.

Meten is well positioned to leverage China’s rapid growth in demand for education and training services, driven by the country’s continuous economic development and increasing urbanization. A growth strategy focused on further developing the online offering, expanding the offline network into tier two, three and four cities, and further enhancing and diversifying the service offering, is expected to deliver approximately 50% growth in revenue, 109% in adjusted EBITDA and 203% in adjusted net income by 2021.

About EdtechX Holdings Acquisition Corp. (“EdtechX”)

EdtechX Holdings Acquisition Corp., headquartered in London UK, is public acquisition company sponsored by affiliates of a specialist “edtech” investment bank, IBIS Capital, and Azimut Enterprises, a Milan based global asset management firm with approximately $61 billion in AUM. EdtechX listed on Nasdaq on October 2018 with an initial capital raise of $63.5M and announced the acquisition of Meten in December 2019 for a stock consideration of $535M. EdtechX is led by French Chief Executive Officer, Benjamin Vedrenne-Cloquet, and British Chairman, Charles McIntyre. Benjamin and Charles are long standing business partners and have built businesses in the edtech, media and financial services sectors. Together, they lead IBIS Capital, a leading specialist education and edtech focused investment bank whose advisory arm was involved in the acquisition of Wall Street English China in 2018. In 2013, Charles and Benjamin also co-founded EdtechX Global, a world leading conference and insight network across Europe, Asia and China, gathering over 10,000 companies and 2000 industry leaders, innovators and influencers in the education, training and edtech industries. In addition, Charles McIntyre is Chairman of Learnlight, a leading English tutoring digital platform for corporates. Benjamin Vedrenne-Cloquet is also Chairman of the Board of CFBL (a French English Bilingual College in London).

Forward Looking Statements

This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding Meten EdtechX’s future financial and business performance, attractiveness of Meten EdtechX’s service offerings and platforms and the value proposition of Meten EdtechX’s services, are forward-looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Meten EdtechX’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to recognize the anticipated benefits of the business combination; costs related to the business combination; Meten EdtechX’s ability to execute on its plans to develop and market new services and the timing of these development programs; Meten EdtechX’s estimates of the size of the markets for its services; the rate and degree of market acceptance of Meten EdtechX’s products; the success of other competing technologies that may become available; Meten EdtechX’s ability to identify and integrate acquisitions; the performance and security of Meten EdtechX’s services; potential litigation involving Meten EdtechX; and general economic and market conditions impacting demand for Meten EdtechX’s services. Neither EdtechX nor Meten undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Contact:
Investors Relation: 

Website: http://investor.metenedu-edtechx.com/
CitiGate Dewe Rogerson (London)

Tel: +44 (0)20 3926 8538
Email: lucy.eyles@citigatedewerogerson.com

Junshi Biosciences Announces Full-Year 2019 Financial Results and Business Updates

SHANGHAI, March 30, 2020 (GLOBE NEWSWIRE) — Junshi Biosciences (HKEX: 1877), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies, announced its audited consolidated annual results of the Company and its subsidiaries for the full-year ended December 31, 2019.

Financial Highlights (IFRS):

  • Total revenue was RMB775 million, mainly due to the sales of toripalimab since its commercialization in February 2019.
  • Due to continued investment in research and development (“R&D”), our R&D expenses were RMB946 million, representing a 75.8% increase from that in 2018. With constant progress in key clinical trials and the introduction of co-R&D and license-in projects, the Company’s R&D pipeline expanded to small molecule drugs and antibody drug conjugates.
  • Selling and distribution expenses were RMB320 million, mainly due to the launch and commercialization of toripalimab.
  • Total comprehensive expense was RMB741 million, representing a slight increase from RMB715 million in 2018, mainly benefits from the contribution of toripalimab sales, but offset by the increase in R&D expenses and administrative expenses.
  • Net cash from financing activities was RMB594 million, principally attributable to net cash from the exercise of over-allotment option of H shares amounting RMB404 million in our initial public offering of H shares on The Stock Exchange of Hong Kong Limited.
  • Net cash used in investing activities was RMB952 million, mainly due to (1) the Lingang Production Base’s construction. The Lingang Production Base is expected to enhance our current production capacity by ten times; and (2) diversification of our R&D pipeline and expansion to small molecule drugs and ADCs through equity investment.

Business Highlights

We have achieved significant progress with respect to our product commercialization, clinical trials, pipeline expansion and construction of production bases in the year of 2019, including:

  • As of the date of this announcement, we have developed a product pipeline comprising 21 drug candidates which covers a wide variety of disease areas associated with high levels of unmet medical needs, using our core platforms and through collaborations with third parties;
  • As of the date of this announcement, there were 14 pivotal registered clinical trials covering a broad spectrum indications for toripalimab being conducted simultaneously, including: urothelial carcinoma (“UC”), nasopharyngeal carcinoma (“NPC”), melanoma, non-small cell lung carcinoma (“NSCLC”), small cell lung carcinoma (“SCLC”), triple-negative breast carcinoma (“TNBC”), esophageal carcinoma (“EC”), hepatocellular carcinoma (“HCC”), gastric carcinoma (“GC”) and renal cell carcinoma (“RCC”);
  • Toripalimab has been well recognized in academic research during the year. Relevant study results have been published in journals such as Monoclonal Antibodies (mAbs), Journal of Hematology & Oncology, Annals of Oncology and Journal of Clinical Oncology (JCO). In addition to the outstanding publication track-record in top academic journals, toripalimab related research was also presented in a series of influential academic conferences such as American Society of Clinical Oncology (“ASCO”), European Society for Medical Oncology (“ESMO”), World Conference for Lung Cancer (“WCLC”) and Chinese Society of Clinical Oncology (“CSCO”). With the clinically-proven safety and efficacy, toripalimab is recommended in the 2019 edition of the CSCO Guidelines for the Diagnosis and Treatment of Melanoma;
  • TAB004/JS004 (anti-BTLA monoclonal antibody) Investigational New Drug (“IND”) was approved for clinical study by the US FDA. We are currently conducting Phase I clinical trial in the United States. TAB004/JS004 was also approved for clinical trial by the National Medical Products Administration of China (“NMPA”) on January 23, 2020;
  • NDA application for UBP1211 (Humira biosimilar) to NMPA was submitted, and it was accepted in November 2019;
  • JS005 (anti-IL-17A monoclonal antibody) has received the Clinical Trial Approval from NMPA in August 2019. Phase I clinical trial of JS005 is expected to complete the first patient enrollment in the first half of 2020; and
  • Our Lingang Production Base with 30,000L capacity in Shanghai, constructed in accordance with the Current Good Manufacturing Practice (cGMP) standards, has obtained the Drug Production License issued by the Shanghai Medical Products Administration.

Product Pipeline

At present, we have 21 drug candidates, including 13 original innovative drugs independently developed by the Company and 8 drugs jointly developed with our partners. Our diversified drug pipeline covers different R&D stages. Our first product, JS001 (i.e. toripalimab), was officially launched for sale with approved indication of locally advanced or metastatic melanoma after standard treatment failure. Nine candidates obtained IND approvals from NMPA, including:

  • JS001, which was conditionally approved for marketing, commenced clinical trials for indication expansion;
  • UBP1211 (a biosimilar of Humira) was accepted for New Drug Application (“NDA”) by NMPA;
  • JS002 (a recombinant humanized anti-PCSK9 monoclonal antibody for injection) commenced Phase II clinical trial;
  • JS501 (a biosimilar of Avastin);
  • JS003 (a recombinant humanized anti-PD-L1 monoclonal antibody for injection);
  • JS101 (a pan-CDK inhibitor);
  • TAB004/JS004 (a recombinant humanized anti-BTLA monoclonal antibody for injection);
  • JS005 (a recombinant humanized anti-IL-17A monoclonal antibody for injection) commenced Phase I clinical trial; and
  • UBP1213 (a recombinant humanized anti-BLyS monoclonal antibody for injection) is being prepared for clinical trial.

Two candidates obtained approval from the US FDA for clinical trial:

  • JS001 commenced Phase Ib clinical trial in the United States.
  • TAB004/JS004 is the world’s first anti-BTLA monoclonal antibody for cancer treatment approved for clinical trial, and commenced Phase I clinical trial in the United States.

Twelve candidates are in the preclinical research stage, and an IND application for JS108 (a recombinant humanized anti-Trop2 monoclonal antibody-Tub196 conjugate for injection) has been submitted to the NMPA.

About Junshi Biosciences

Established in 2012, Junshi Biosciences is committed to developing first-in-class and best-in-class drugs through original innovation and becoming a pioneer in the area of translational medicine to provide patients with effective and affordable treatment options. On December 24, 2018, Junshi Biosciences was listed on the Main Board of the Stock Exchange of Hong Kong with the stock code: 1877.HK. The Company has established a diversified R&D pipeline comprising 21 drug candidates with therapeutic areas covering cancer, metabolic diseases, autoimmune diseases, and neurologic diseases. Product types include monoclonal antibodies, fusion proteins, antibody drug conjugates, and small molecule drugs. With a combined 33,000L fermentation capacity in two GMP facilities at Shanghai and Wujiang, Junshi has established the manufacturing infrastructure to support commercialization and provide our partners and patients with high-quality products through a global supply chain network. For more information, please visit: http://junshipharma.com/en/Index.html

Contact Information

IR Team:
info@junshipharma.com
+ 86 021-2250 0300

Solebury Trout
Michael Levitan
mlevitan@soleburytrout.com
+1 646.378.2920

Junshi Biosciences Receives Orphan Drug Designation from the U.S. FDA for Toripalimab in Combination with Pfizer’s Axitinib for the Treatment of Mucosal Melanoma

SHANGHAI, China, March 30, 2020 (GLOBE NEWSWIRE) — Junshi Biosciences (HKEX: 1877) today announced that the U.S. Food and Drug Administration (FDA) has recently granted Orphan Drug Designation (ODD) for toripalimab in combination with Pfizer’s axitinib for the treatment of patients with mucosal melanoma. Toripalimab is an anti-PD-1 monoclonal antibody developed by Junshi. Toripalimab received its first approved for 2nd line treatment of metastatic melanoma on December 17, 2018 in China and was commercially launched in February 2019.

About the Combination Therapy

Mucosal melanoma is a rare type of melanoma that develops in the mucosal epithelium. It responds poorly to traditional chemotherapy, and is less responsive to immunotherapy when compared with cutaneous melanoma. Preclinical studies have shown that simultaneous inhibition of immune checkpoints with Vascular endothelial growth factor receptor (VEGFR) can increase lymphocyte infiltration and suppress tumor growth synergistically. On August 12, 2019, results of the Phase 1b study using toripalimab in combination with axitinib to treat advanced mucosal melanoma (NCT03086174) was published in the Journal of Clinical Oncology. The study showed that the combination achieved an objective response rate (ORR) of 48.3% and a disease control rate (DCR) of 86.2% in patients with advanced mucosal melanoma who have not received systemic chemotherapy. The median progression-free survival (mPFS) time was 7.5 months. A three-arm Phase II study, comparing the combination of toripalimab and axitinib versus each monotherapy is currently in progress (ClinicalTrials.gov Identifier: NCT03941795).

Impact of the Designation

The orphan-drug designation granted by the FDA is beneficial for the continuous development of the Combination Therapy and the receipt of certain policy support in terms of registration and commercialization of the Combination Therapy in the United States, including but not limited to (1) tax credits for clinical trial costs; (2) waiver of application fees for new drugs; and (3) 7 years of market exclusivity without being affected by patent.

About Junshi Biosciences

Established in 2012, Junshi Biosciences is committed to developing first-in-class and best-in-class drugs through original innovation and becoming a pioneer in the area of translational medicine to provide patients with effective and affordable treatment options. On December 24, 2018, Junshi Biosciences was listed on the Main Board of the Stock Exchange of Hong Kong with the stock code: 1877.HK. The Company has established a diversified R&D pipeline comprising 21 drug candidates with therapeutic areas covering cancer, metabolic diseases, autoimmune diseases, and neurologic diseases. Product types include monoclonal antibodies, fusion proteins, antibody-drug conjugates, and small molecule drugs. With a combined 33,000L fermentation capacity in two GMP-facilities at Shanghai and Wujiang, Junshi has established the manufacturing infrastructure to support commercialization and provide our partners and patients with high-quality products through a global supply chain network.

Contact Information

IR Team:
info@junshipharma.com
+ 86 021-2250 0300

Solebury Trout
Michael Levitan
mlevitan@soleburytrout.com
+1 646-378-2920

 

VISTA GLOBAL จะขยายเที่ยวบินว่างพิเศษแบบครบวงจรให้มากขึ้นเพื่อผู้ที่จำเป็นต้องใช้บริการมากขึ้นในช่วงที่มีการระบาดของโรคโควิด-19

  • Vista Global จะขยายการสนับสนุนผ่านโครงสร้างพื้นฐานระดับโลกทั้งหมดในขณะนี้รวมถึงฝูงบิน XO
  • ความคิดริเริ่มจะช่วยให้สามารถเข้าถึงเครื่องบิน 115 ลำและเที่ยวบินว่างพิเศษสำหรับรัฐบาลและองค์กรทางการแพทย์

นิวยอร์ก, March 30, 2020 (GLOBE NEWSWIRE) — Vista Global กลุ่มผู้ให้บริการการบินส่วนบุคคลซึ่งก่อตั้งโดย Thomas Flohr ได้ประกาศว่าจะเพิ่มข้อเสนอเที่ยวบินว่างพิเศษของ VistaJet ให้กับผู้ที่มีความต้องการด้านการเดินทางอย่างเร่งด่วนในช่วงเวลาที่มีความไม่แน่นอนนี้

Vista Global จะช่วยให้รัฐบาลและองค์กรทางการแพทย์สามารถเข้าถึงเครื่องบินได้มากกว่า 115 ลำในช่วงการระบาดของโควิด-19 ผ่าน VistaJet และ XO ในตอนนี้ ซึ่งเป็นตลาดดิจิตอลระดับโลกสำหรับการบินส่วนบุคคล การร่วมมือกันระหว่าง VistaJet และ XO และใช้ประโยชน์จากเครือข่าย โครงสร้างพื้นฐาน และเทคโนโลยีระดับโลก กลุ่มธุรกิจจะช่วยให้รัฐบาลส่งตัวประชาชนที่อยู่ในต่างประเทศและช่วยเหลือในการขนส่งผู้เชี่ยวชาญด้านสุขภาพและเวชภัณฑ์ไปยังประเทศที่ต้องการมากที่สุดโดยการให้สิทธิ์เข้าถึงเที่ยวบินว่างพิเศษฟรีVistaJet_Global 6000_Taxi

นอกจากนี้ เพื่อช่วยให้เจ้าหน้าที่เตรียมแผนการรับมือของตนได้โดยเร็วที่สุด Vista Global จะช่วยเหลือด้านใบอนุญาตและเอกสารที่จำเป็นของการขนส่งที่มีความซับซ้อน

Thomas Flohr ผู้ก่อตั้งและประธาน Vista Global ได้กล่าวว่า:
“ในช่วง 48 ชั่วโมงที่ผ่านมานับตั้งแต่การประกาศของ VistaJet เราได้รับการตอบสนองที่ดีจากรัฐบาลและองค์กรทางการแพทย์ ดังนั้นเราจึงตัดสินใจขยายข้อเสนอนี้ครอบคลุมไปยังฝูงเครื่องบินของเราจำนวน 115 ลำทั่วโลก เราเข้าใจว่าผู้คนต้องการความช่วยเหลือ โดยเฉพาะอย่างยิ่งในช่วงเวลาที่มีความไม่แน่นอน และในการขยายความพร้อมในการใช้งานไปยังฝูงบินของ XO เราสามารถใช้เครือข่าย โครงสร้างพื้นฐาน ความเชี่ยวชาญ และเทคโนโลยีทั่วโลกของเราเพื่อช่วยชุมชนที่ต้องการความช่วยเหลือได้มากขึ้น”

รัฐบาลและองค์กรทางการแพทย์ที่ต้องการความช่วยเหลือควรติดต่อกลุ่มบริษัทผ่านทางหน้าเว็บเฉพาะของ VistaJet เพื่อให้บริษัทสามารถส่งคำขอทั้งหมดเพื่อให้มั่นใจว่ามีการจัดลำดับความสำคัญ จัดการกับกรณีที่สำคัญที่สุด และจัดการการคัดกรองความปลอดภัยที่เกี่ยวข้อง

ติดต่อ
Vista Global: press@vistaglobal.com 

เกี่ยวกับ Vista Global Holding
Vista Global Holding เป็นระบบนิเวศการบินส่วนบุคคลแห่งแรกของโลก กลุ่มบริษัทระดับโลกนี้มีที่ตั้งสำนักงานใหญ่ที่ DIFC ในประเทศดูไบ Vista Global ได้ควบรวมบริษัทต่างๆ ที่มอบบริการ Asset-light เพื่อครอบคลุมทุกด้านที่สำคัญของการบินธุรกิจ โดยรับประกันและครอบคลุมเที่ยวบินแบบ On Demand ทั่วโลก รวมถึงการให้เช่าเครื่องบินและการเงิน และเทคโนโลยีการบินที่ดีที่สุดอีกด้วย โดยภารกิจของกลุ่มคือการเป็นผู้นำการเปลี่ยนแปลงเพื่อให้บริการการบินที่ดีและคุ้มค่าที่สุดแก่ลูกค้าทุกที่ทุกเวลาทั่วโลก ด้วยความรู้และความเข้าใจในทุกแง่มุมของอุตสาหกรรมของ Vista Global ทำให้เราพร้อมมอบข้อเสนอแบบ End-to-end และเทคโนโลยีที่ดีที่สุดให้แก่ลูกค้าการบินธุรกิจการบินทุกคนผ่านบริการภายใต้แบรนด์ VistaJet และ XO

มีเที่ยวบินว่างและข้อเสนออื่นๆ ให้บริการภายใต้ดุลยพินิจของ VistaJet และ XO แต่เพียงผู้เดียว และเป็นไปตามข้อกำหนดและเงื่อนไข Vista Global Holding Limited (“Vista Global”) ไม่ได้เป็นเจ้าของหรือดำเนินการเครื่องบินใดๆ เที่ยวบินทั้งหมดดำเนินการโดยเที่ยวบินภายใต้กลุ่ม Vista Global โดยตรง และ/หรือผู้ประกอบการซึ่งเป็นพันธมิตรที่ให้บริการ ซึ่งได้รับอนุญาตจาก FAA/DOT ที่ลงทะเบียนกับ EASA หรือรัฐบาลสหรัฐฯ Vista Global เป็นผู้ถือหุ้นส่วนน้อยที่ไม่มีอำนาจควบคุมใน XOJET Aviation LLC

รูปภาพประกอบของการแถลงนี้สามารถรับชมได้ที่: https://www.globenewswire.com/NewsRoom/AttachmentNg/6fc0f3c9-07c5-4bbb-ba63-7e5963c807e2