Friday, May 24, 2024

Merck to Showcase Advances in the Science of Cancer With New Data Presented at ASCO 2024

DARMSTADT, Germany - Friday, 24. May 2024


    First-in-human data for potential first-in-class anti-CEACAM5 ADC with topoisomerase 1 inhibitor payload, M9140, in treatment of metastatic colorectal cancer to be featured in oral presentation
    Phase I data for tuvusertib, lead asset from the company’s unique portfolio of DDR inhibitors, including an oral presentation on the combination with a PARP inhibitor, support further clinical development
    New analyses contribute to totality of evidence supporting BAVENCIO first-line maintenance as a standard-of-care in advanced bladder cancer

Not intended for Canada-, UK- or US-based media

 

(BUSINESS WIRE)--Merck, a leading science and technology company, today announced new research from the company’s diverse oncology portfolio will be presented at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, May 31 to June 4, Chicago. Data from company- and investigator-sponsored studies include 31 accepted abstracts across more than 10 tumor types, including seven oral presentations, highlighting the company’s innovative oncology pipeline encompassing potential first-in-class approaches designed to hit cancer at its core.

“Our research at the 2024 ASCO Annual Meeting showcases the advancement of our novel pipeline designed to exploit the major vulnerabilities of cancer, with new data from our lead investigational antibody-drug conjugate and our DNA damage response portfolio,” said Victoria Zazulina, M.D., Head of Development Unit, Oncology, for the Healthcare business of Merck. “In addition, new analyses from pivotal studies and collaborations underline our determination to maximize the impact of our standard-of-care treatments as we seek to improve the lives of those living with cancer.”

Highlights of the company’s data include:

First-in-human data for the antibody-drug conjugate (ADC) M9140 (Abstract 3000). This Phase I trial is investigating the safety, tolerability, pharmacokinetics (PK), and preliminary clinical activity of M9140, the company’s investigational ADC against carcinoembryonic antigen-related cell adhesion molecule 5 (CEACAM5) with a novel exatecan payload, in heavily pretreated patients with metastatic colorectal cancer. Data from 40 patients treated across seven dose levels in Part 1A of the study showed encouraging clinical activity and a manageable and predictable safety profile in this population. The randomized dose-expansion part of the study is ongoing.

New findings for tuvusertib, the lead oral ATRi asset from the company’s portfolio of DNA damage response (DDR) inhibitors (Abstracts 3018, 2612, 2614). Data from the DDRiver™ Clinical Trials program highlight the potential of the investigational oral ataxia telangiectasia and RAD3-related inhibitor (ATRi) tuvusertib in various combinations across solid tumors.

    Part B1 of the Phase I DDRiver Solid Tumors 301 study assessed safety as well as PK, pharmacodynamics, and preliminary efficacy of different dosing regimens of tuvusertib in combination with the poly-ADP ribose polymerase (PARP) inhibitor niraparib in patients with locally advanced or metastatic unresectable solid tumors refractory to standard treatment. Data show a manageable safety profile and preliminary efficacy in patients with advanced solid tumors, confirming suitability of this combination for further evaluation.
    Presentations from the Phase Ib DDRiver Solid Tumors 320 study showcase further data on the combination of tuvusertib with the company’s ataxia telangiectasia-mutated (ATM) inhibitor lartesertib, building on the safety and efficacy data presented at the AACR Annual Meeting in April 2024, and for the first time, with the company’s immune checkpoint inhibitor BAVENCIO® (avelumab). The findings further support that both DDRi assets are well-positioned for combination development building on in-house expertise.

Post-hoc independent read confirmation of Phase II efficacy data for xevinapant (Abstract e18039). A previously published Phase II study of the investigational oral IAP (inhibitor of apoptosis protein) inhibitor xevinapant plus chemoradiotherapy (CRT) versus placebo plus CRT in patients with unresected locally advanced squamous cell carcinoma of the head and neck (LA SCCHN) showed improved efficacy outcomes. This post-hoc analysis showed consistent outcomes when comparing the review of selected efficacy endpoints by blinded independent review committee (BIRC) with previously reported outcomes by investigator review. Xevinapant plus CRT demonstrated a 62% reduction in the risk of disease progression (by BIRC) or death compared with placebo plus CRT, with prolonged duration of response and increased complete response rates.

Long-term efficacy and safety analyses from JAVELIN Bladder 100 (Abstracts 4566, 4567). New analyses of this Phase III study, which has previously shown in a post-hoc exploratory analysis a median overall survival of 29.7 months in patients who received BAVENCIO plus best supportive care (BSC) as measured from the start of first-line chemotherapy, confirm the benefit of BAVENCIO first-line maintenance in key subgroups of patients with advanced urothelial carcinoma that has not progressed on platinum-based chemotherapy, including those who have low tumor burden and in those with mixed histologic subtypes. These findings further support the use of the JAVELIN Bladder regimen as a standard of care in this setting and as an important first-line treatment regimen for patients with low tumor burden in particular, where pronounced efficacy with BAVENCIO (vs BSC alone) was observed.

Health-related quality-of-life data for TEPMETKO® (tepotinib) in NSCLC (Abstract 8575). This analysis reports health-related quality of life (HRQoL) outcomes from the Phase II VISION study of TEPMETKO in patients with metastatic non-small cell lung cancer (NSCLC) harboring METex14 skipping alterations with brain, liver, adrenal or bone metastases. These patients experienced stable HRQoL during treatment with TEPMETKO, with trends for improvement in cough, consistent with results for the overall population.

Additional company-sponsored activity at ASCO:

Medical Evening Lecture

What's new in LA SCCHN? An evasive enemy and an evolving landscape

Faculty: Kevin Harrington (chair), Institute of Cancer Research, UK; Ari Rosenberg, University of Chicago Medicine, USA; Jonathan Schoenfeld, Dana-Farber Cancer Institute, USA; Sue Yom, University of California, San Francisco, USA

June 2, 2024, 7:00PM-8:00PM CDT

W Chicago City Center hotel (172 West Adams Street), Great Room I

Select Merck-related abstracts accepted for the ASCO 2024 Annual Meeting include (all times in CDT):

Title
    

Lead Author
    

Abstract
    

Session Information

M9140
    

 
    

 
    

 

First-in-human trial of M9140, an anti-CEACAM5 antibody-drug conjugate (ADC) with exatecan payload, in patients with metastatic colorectal cancer.
    

Kopetz, S
    

3000
    

Session Title: Developmental Therapeutics—Molecularly Targeted Agents and Tumor Biology, HALL D1

Date: Saturday June 1, 2024

Session Time: 3:00-6:00PM

Presentation Time: 3:00-3:06PM

Location: Hall D1

DDRi
    

 
    

 
    

 

A phase I study of highly potent oral ATR inhibitor tuvusertib plus oral PARP inhibitor niraparib in patients with solid tumors.
    

Yap, T
    

3018
    

Session Title: Developmental Therapeutics—Molecularly Targeted Agents and Tumor Biology

Date: Monday June 3, 2024

Session Time: 8:00 -9:30AM

Presentation Time: 9:00-9:12AM

Location: S406

Pharmacodynamic and immunophenotyping analyses of ATR inhibitor tuvusertib + ATM inhibitor lartesertib in a phase Ib study in patients with advanced unresectable solid tumors.
    

Boni, V
    

2612
    

Session Title: Developmental Therapeutics—Immunotherapy

Date: Saturday June 1, 2024

Session Time: 9:00AM-12:00PM

Location: Hall A

Pharmacokinetic and pharmacodynamic findings from a phase 1b study of ATR inhibitor tuvusertib + anti-PD-L1 avelumab in patients with advanced unresectable solid tumors.
    

Tolcher, A
    

2614
    

Session Title: Developmental Therapeutics—Immunotherapy

Date: Saturday June 1, 2024

Session Time: 9:00AM-12:00PM

Location: Hall A

Xevinapant
    

 
    

 
    

 

Phase 2 study of xevinapant + chemoradiotherapy (CRT) vs placebo + CRT in patients with unresected

locally advanced squamous cell carcinoma of the head and neck: A post hoc activity analysis by blinded independent review committee evaluation.
    

Bourhis, J
    

e18039
    

Accepted for e-publication

Xevinapant with radiation and concurrent carboplatin and paclitaxel in patients ineligible for cisplatin with locoregionally advanced squamous cell carcinoma of the head and neck (The EXtRaCT study)
    

Mir, NA
    

TPS6126
    

Session Title: Head and Neck Cancer

Date: Sunday June 2, 2024

Session Time: 9:00AM-12:00PM

Location: Hall A

BAVENCIO (avelumab)

Avelumab first-line maintenance for advanced urothelial carcinoma: Long-term outcomes from JAVELIN Bladder 100 in patients with low tumor burden.
    

Bellmunt, J
    

4566
    

Session Title: Genitourinary Cancer—Kidney and Bladder

Date: Sunday June 2, 2024

Session Time: 9:00AM-12:00PM

Location: Hall A

Avelumab first-line maintenance for advanced urothelial carcinoma: Long-term outcomes from the JAVELIN Bladder 100 trial in patients with histological subtypes.
    

Loriot, Y
    

4567
    

Session Title: Genitourinary Cancer—Kidney and Bladder

Date: Sunday June 2, 2024

Session Time: 9:00AM-12:00PM

Location: Hall A

Avelumab + axitinib vs sunitinib in patients with advanced renal cell carcinoma: Final overall survival (OS) analysis from the JAVELIN Renal 101 phase 3 trial.
    

Motzer, R
    

4508
    

Session Title: Genitourinary Cancer—Kidney and Bladder

Date: Monday June 3, 2024

Session Time: 8:00-11:00AM

Presentation Time: 10:12-10:24AM

Location: Hall B1

ERBITUX (cetuximab)
    

 
    

 
    

 

Efficacy of FOLFIRI plus bevacizumab versus FOLFIRI plus cetuximab in RAS-mutant metastatic

colorectal cancer: Final update on RAS mutant patients treated in FIRE-3.
    

Weiss, L
    

3550
    

Session Title: Gastrointestinal Cancer—Colorectal and Anal

Date: Saturday June 1, 2024

Session Time: 1:30-4:30PM

Location: Hall A

Encorafenib and cetuximab versus irinotecan/cetuximab or FOLFIRI/cetuximab in Chinese patients with BRAF V600E mutant metastatic colorectal cancer: The NAUTICAL CRC study.
    

Wang, X
    

LBA3559
    

Session Title: Gastrointestinal Cancer—Colorectal and Anal

Date: Saturday June 1, 2024

Session Time: 1:30-4:30PM

Location: Hall A

TEPMETKO (tepotinib)
    

 
    

 
    

 

Health-related quality of life with tepotinib in patients with MET exon 14 (METex14) skipping non-small cell lung cancer with brain, liver, adrenal, or bone metastases in the phase II VISION trial.
    

Reinmuth, N
    

8575
    

Session Title: Lung Cancer—Non-Small Cell Metastatic

Date: Monday June 3, 2024

Session Time: 1:30 -4:30PM

Location: Hall A

Advancing the Future of Cancer Care

At Merck, we strive every day to improve the futures of people living with cancer. Our research explores the full potential of promising mechanisms in cancer research, focused on synergistic approaches designed to hit cancer at its core. We are determined to maximize the impact of our standard-of-care treatments and to continue pioneering novel medicines. Our vision is to create a world where more cancer patients will become cancer survivors. Learn more at www.merckgrouponcology.com.

About M9140

M9140 is an investigational anti-CEACAM5 antibody-drug conjugate (ADC). Leveraging the company’s novel linker-payload technology, M9140 is the first CEACAM5 ADC with an exatecan payload, a potent topoisomerase inhibitor (TOP1i), which has been rationally designed for stability in circulation and superior cancer cell killing activity. Beyond the direct effect on the target cell, M9140 has been shown in preclinical research to induce tumor cell death through a bystander effect permeating the cell membrane to neighboring cells, inducing apoptosis (cell death). This bystander effect within the tumor microenvironment may enhance efficacy, particularly in tumors with heterogenous CEACAM5 expression. M9140 is currently being investigated in advanced solid tumors in a first-in-human, Phase I dose-escalation clinical trial (NCT05464030).

About Tuvusertib

Tuvusertib (M1774), is the lead asset in the company’s portfolio of DNA damage response inhibitors. Tuvusertib is an investigational, potentially best-in-class small-molecule oral inhibitor of the ataxia telangiectasia and Rad3-related (ATR) kinase, which serves as a major regulator of the replication stress response. Early clinical data for tuvusertib have shown potency, selectivity, and the potential to achieve high therapeutic doses without rate-limiting side effects. The company’s DDRiver™ Clinical Trial Program is exploring the potential of tuvusertib as a backbone therapy in a variety of combinations with other DDR inhibitors, immune checkpoint inhibitors, or cytotoxic agents, touching on multiple clinical hypotheses across several types of cancer.

About Xevinapant

Xevinapant (formerly known as Debio 1143) is an investigational first-in-class potent oral small-molecule IAP (inhibitor of apoptosis protein) inhibitor developed for the treatment of LA SCCHN, with a proposed dual mechanism of action: xevinapant releases the brakes on apoptosis and increases anti-tumor immunity, re-initiating the programmed cell death of tumor cells. Via this dual mechanism, xevinapant is thought to enhance the effects of chemo- and radiotherapy. Xevinapant has demonstrated improved efficacy outcomes in combination with chemoradiotherapy (CRT), including 18-month locoregional control, three-year progression-free survival and five-year survival, compared with placebo plus CRT in a Phase II study in patients with unresected LA SCCHN. Xevinapant is being studied in two Phase III studies: TrilynX™, in patients with unresected LA SCCHN, and XRay Vision™, in patients with resected LA SCCHN who are at a high risk of recurrence and who are deemed cisplatin-ineligible. In March 2021, Merck gained exclusive rights from Debiopharm to develop and commercialize xevinapant worldwide. Xevinapant is not approved for any use anywhere in the world.

About BAVENCIO® (avelumab)

BAVENCIO is a human anti-programmed death ligand-1 (PD-L1) antibody. BAVENCIO has been shown in preclinical models to engage both the adaptive and innate immune functions. By blocking the interaction of PD-L1 with PD-1 receptors, BAVENCIO has been shown to release the suppression of the T cell-mediated antitumor immune response in preclinical models.

BAVENCIO Approved Indications

The European Commission (EC) has authorized the use of BAVENCIO as monotherapy for the first-line maintenance treatment of adult patients with locally advanced or metastatic urothelial carcinoma (UC) who are progression-free following platinum-based chemotherapy. BAVENCIO in combination with axitinib is indicated for the first-line treatment of adult patients with advanced renal cell carcinoma (RCC). BAVENCIO is also authorized by the EC for use as a monotherapy for the treatment of adult patients with metastatic Merkel cell carcinoma (MCC).

In the US, BAVENCIO is indicated for the maintenance treatment of patients with locally advanced or metastatic urothelial carcinoma (UC) that has not progressed with first-line platinum-containing chemotherapy. BAVENCIO is also indicated for the treatment of patients with locally advanced or metastatic UC who have disease progression during or following platinum-containing chemotherapy, or have disease progression within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy.

BAVENCIO in combination with axitinib is indicated in the US for the first-line treatment of patients with advanced RCC. Additionally, the US Food and Drug Administration (FDA) has approved BAVENCIO for the treatment of adults and pediatric patients 12 years and older with metastatic MCC.

BAVENCIO is currently approved for at least one indication for patients in more than 50 countries.

BAVENCIO Safety Profile from the EU Summary of Product Characteristics (SmPC)

The special warnings and precautions for use for BAVENCIO monotherapy include infusion-related reactions, as well as immune-related adverse reactions that include pneumonitis and hepatitis (including fatal cases), colitis, pancreatitis (including fatal cases), myocarditis (including fatal cases), endocrinopathies, nephritis and renal dysfunction, and other immune-related adverse reactions. The special warnings and precautions for use for BAVENCIO in combination with axitinib include hepatotoxicity.

The SmPC list of the most common adverse reactions with BAVENCIO monotherapy in patients with solid tumors includes fatigue, nausea, diarrhea, decreased appetite, constipation, infusion-related reactions, weight decreased and vomiting. The list of most common adverse reactions with BAVENCIO in combination with axitinib includes diarrhea, hypertension, fatigue, nausea, dysphonia, decreased appetite, hypothyroidism, cough, headache, dyspnea, and arthralgia.

About TEPMETKO® (tepotinib)

TEPMETKO is a once-daily oral MET inhibitor that inhibits the oncogenic MET receptor signaling caused by MET (gene) alterations. Discovered and developed in-house at Merck, TEPMETKO has a highly selective mechanism of action, with the potential to improve outcomes in aggressive tumors that have a poor prognosis and harbor these specific alterations.

TEPMETKO is the first oral MET inhibitor to have received a regulatory approval anywhere in the world for the treatment of advanced non-small cell lung cancer (NSCLC) harboring MET exon 14 skipping alterations, with its approval in Japan in March 2020. In February 2024, the US Food and Drug Administration granted full approval for TEPMETKO. The conversion from accelerated approval, which the company received in February 2021, to full FDA approval is based on additional data from the ongoing Phase II VISION study, the largest trial of its kind. The updated label includes revised data for overall response rate and duration of response, as well as safety outcomes for more than 300 patients who were treated with TEPMETKO once-daily for metastatic NSCLC with METex14 skipping alterations.

TEPMETKO is available in a number of countries. To meet an urgent clinical need, TEPMETKO is also available in a pilot zone of China in line with the government policy to drive early access for innovative medicines approved outside of China.

TEPMETKO Safety Profile from the EU Summary of Product Characteristics (SmPC)

The special warnings and precautions for use for TEPMETKO monotherapy include Interstitial lung disease (ILD) or ILD-like adverse reactions including pneumonitis, increase of liver enzymes (ALT and AST), QTc prolongation, and embryo-fetal toxicity.

The most common adverse reactions in ≥ 20% of exposed to tepotinib at the recommended dose in the target indication are oedema, mainly peripheral oedema, nausea, hypoalbuminemia, diarrhea and increase in creatinine. The most common serious adverse reactions in ≥ 1% of patients are peripheral oedema, generalized oedema and ILD.

About ERBITUX® (cetuximab)

ERBITUX is an IgG1 monoclonal antibody targeting the epidermal growth factor receptor (EGFR). As a monoclonal antibody, the mode of action of ERBITUX is distinct from standard non-selective chemotherapy treatments in that it specifically targets and binds to the EGFR. This binding inhibits the activation of the receptor and the subsequent signal-transduction pathway, which results in reducing both the invasion of normal tissues by tumor cells and the spread of tumors to new sites. It is also believed to inhibit the ability of tumor cells to repair the damage caused by chemotherapy and radiotherapy and to inhibit the formation of new blood vessels inside tumors, which appears to lead to an overall suppression of tumor growth. Based on in vitro evidence, ERBITUX also targets cytotoxic immune effector cells towards EGFR-expressing tumor cells (antibody-dependent cell-mediated cytotoxicity [ADCC]).

ERBITUX has already obtained market authorization in over 100 countries worldwide for the treatment of RAS wild-type metastatic colorectal cancer and for the treatment of squamous cell carcinoma of the head and neck. Merck licensed the right to market ERBITUX, a registered trademark of ImClone LLC, outside the U.S. and Canada from ImClone LLC, a wholly owned subsidiary of Eli Lilly and Company, in 1998.

About Merck

Merck, a leading science and technology company, operates across life science, healthcare and electronics. Around 63,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From providing products and services that accelerate drug development and manufacturing as well as discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2023, Merck generated sales of € 21 billion in 65 countries.

Scientific exploration and responsible entrepreneurship have been key to Merck’s technological and scientific advances. This is how Merck has thrived since its founding in 1668. The founding family remains the majority owner of the publicly listed company. Merck holds the global rights to the Merck name and brand. The only exceptions are the United States and Canada, where the business sectors of Merck operate as MilliporeSigma in life science, EMD Serono in healthcare, and EMD Electronics in electronics.

All Merck press releases are distributed by e-mail at the same time they become available on the Merck website. Please go to www.merckgroup.com/subscribe to register online, change your selection or discontinue this service.

 

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Contacts

Media Relations
noelle.piscitelli@emdserono.com
Phone: +1 (781) 427-4351

Spatial Adds HOOPS Communicator

 Unlock the Power of the Web Visualization for 3D Application


(BUSINESS WIRE)--Spatial Corp, the leading software development toolkit provider for design, manufacturing and engineering solutions and a subsidiary of Dassault Systèmes, announced today that it has added HOOPS Communicator, developed by Tech Soft 3D, to complement and extend its portfolio of component technologies. With the addition of HOOPS Communicator to Spatial’s 3D components portfolio, Spatial now enables web-based visualization of and interaction with 3D data for a diverse range of design, engineering and manufacturing workflows.


Adding HOOPS Communicator to Spatial’s product portfolio allows its customers to expand their applications to the web while reusing their IP from traditional desktop applications. As a result, Spatial’s customers can leverage many new opportunities on the web, including extended customer-reach, more access control, and less costly distributions, updates and maintenance.


“We are excited to enhance our portfolio by adding HOOPS Communicator. This addition enables Spatial customers to seamlessly implement powerful web applications for various engineering workflows, building on robust 3D modeling kernel and 3D InterOp components for data conversion, preparation and reuse,” said Jean-Marc Guillard, CEO, Spatial Corp.


One of Spatial’s newest customers is a vivid example of the tight integration of HOOPS Communicator with the 3D modelers CGM and ACIS as well as 3D InterOp. The customer plans to release a new web-based application for architectural, engineering and construction (AEC) workflows, which allows users to digitally create, review and finalize designs for homes, buildings and plants – all before costly construction begins – in collaboration with stakeholders across globally distributed sites.


Additional examples of web-based workflows enabled by HOOPS Communicator used in conjunction with Spatial’s 3D modelers CGM and ACIS and 3D InterOp include:


Virtual twin applications for numerous manufacturing processes such as sheet metal fabrication, 3D printing and multi-axis milling, as well as a wide range of robotic systems

Collaborative inspection applications for parts and assemblies with both geometry and product manufacturing information (PMI)

On-demand catalogs for 3D parts and assemblies for diverse kinds of industrial applications

Like HOOPS Visualize for developing native applications, which Spatial has integrated with its SDKs and resold since 2012, HOOPS Communicator provides comprehensive out-of-the-box API functionality for a variety of engineering workflows on the web. Such functionality avoids having to recreate the same functionality in WebGL or with open-source frameworks. Furthermore, unlike OEM solutions, HOOPS Communicator allows custom interaction with 3D data.


Contact Spatial today to learn more about how HOOPS Communicator can unlock the power of the web for 3D workflows.


About Spatial


Spatial Corp, a Dassault Systèmes subsidiary, is a provider of 3D software development toolkits for technical applications across a broad range of industries. Spatial 3D modeling, 3D visualization, and CAD translation software development toolkits help application developers deliver market-leading products, maintain focus on core competencies, and reduce time-to-market. For over 35 years, Spatial’s 3D software development toolkits have been adopted by many of the world’s most recognized software developers, manufacturers, research institutes, and universities. Headquartered in Broomfield, Colorado, Spatial has offices in the USA, France, Germany, Japan, China, and the United Kingdom. For more information, visit www.spatial.com.


 


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Contacts

Spatial Corp

Fériel Jedidi

feriel.jedidi@3ds.com

+33 1 61 62 82 01


 


Mary Kay Awards Grants to Five Aspiring Young Scientists at Regeneron International Science and Engineering Fair

 (BUSINESS WIRE)--Mary Kay Inc., a corporate cheerleader in support of STEM education and youth pursuing their dreams, recently awarded three grants to five standout high school scientists, selected from nearly 2,000 participants representing almost 70 countries, with grants at the Regeneron International Science & Engineering Fair (ISEF) in Los Angeles. The grants—totaling nearly $10,000—were awarded to students with innovative projects focused on finding cures for cancers affecting women, sustainable packaging innovation, and protecting our planet’s most valuable resources.

ISEF, a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional, and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately $9 million in awards and scholarships.

“These future STEM leaders demonstrated innovative research, creative solutions, and novel approaches to complex problems that will directly impact cures for cancer, sustainable business practices, and redefine industry norms,” said Kristin Dasaro, Director, Package Engineering and Sustainability at Mary Kay. “We have so much to learn from this next generation and Mary Kay is honored to support them in their STEM journeys.”


MEET THE STUDENT SCIENTISTS

First Prize: Keshvee Sekhda and Nyambura Sallinen (Georgia, USA)

IdentiCan: The App That Detects Brain, Breast, Lung, Skin, and Pancreatic Cancer

App utilizing AI technology to identify cancerous tumors with 99.6% accuracy.


Second Prize: Madalena Filipe and Frederico Mauritty (Lisbon, Portugal)

HidroQapa: Waterproof Bioplastic Made From Chitosan Extracted From Shrimp Shell Waste

Creating sustainable, biodegradable materials from crustacean shells, helping to reduce waste and environmental pollution.


Third Prize: Carolina de Araujo Pereira da Silva (Rio de Janeiro, Brazil)

Rock the Metals! Investigating Manganese as a Trigger of Malignancy and Metal Transporters as Targets in Cancer Treatment

Researching how metals and their transporters affect cancer cell behavior for novel therapeutic cancer treatments.


About Mary Kay

Then. Now. Always. One of the original glass ceiling breakers, Mary Kay Ash founded her dream beauty brand in Texas in 1963 with one goal: to enrich women’s lives. That dream has blossomed into a global company with millions of independent sales force members in more than 35 countries. For 60 years, the Mary Kay opportunity has empowered women to define their own futures through education, mentorship, advocacy, and innovation. Mary Kay is dedicated to investing in the science behind beauty and manufacturing cutting-edge skincare, color cosmetics, nutritional supplements, and fragrances. Mary Kay believes in preserving our planet for future generations, protecting women impacted by cancer and domestic abuse, and encouraging youth to follow their dreams. Learn more at marykayglobal.com, find us on Facebook, Instagram, and LinkedIn, or follow us on Twitter.




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Mary Kay Inc. Corporate Communications

marykay.com/newsroom

972.687.5332 or media@mkcorp.com

Lenovo Group: Q4 and Full Year Financial Results 2023/24


 Lenovo’s growth accelerates in Q4 FY 23/24 - capturing hybrid AI opportunities

 

(BUSINESS WIRE)--Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced Q4 and full-year results for fiscal year 2023/24. After resuming growth in Q3, the Group reported year-on-year revenue growth across all business groups in Q4, with Group revenue increasing nearly 10% year-on-year to US$13.8 billion, net income doubling year-on-year to US$248 million, and non-PC revenue mix reaching a historic high of 45%. The Group’s Q4 and overall 2nd half performance demonstrates how Lenovo has navigated the past year’s industry downturn, captured the tremendous growth opportunities presented by AI, and accelerated momentum across the business. Revenue for the full fiscal year was US$56.9 billion, and net income was US$1 billion. From the second half of the fiscal year, Lenovo achieved year-on-year revenue growth of 6% and net margin recovered from a first half year-on-year decline to flat in the second half.

The Group is leading in an era of unprecedented AI opportunities with its pocket-to-cloud portfolio, strong ecosystem and partnerships, and full-stack AI capabilities. Since announcing its AI strategy in October 2023 at its annual Tech World event, Lenovo has launched its first wave of AI PCs as well as AI capabilities covering other smart devices, smart infrastructure, and smart solutions and services. The Group expects the AI PC – which is defined as equipped with a personal AI agent based on natural interactions, heterogeneous computing, personal knowledge base, connected to an open AI application ecosystem, and with privacy and security protection – to grow from its current premium position to mainstream over the next three years, driving a new refresh cycle for the industry. Hybrid AI is also driving greater demand for AI infrastructure and customers are increasingly asking for customized AI solutions and services, particularly consulting, design, deployment and maintenance of AI.

Lenovo’s continued commitment and investment in innovation, focused on its anchor technologies of AI and computing, is helping it realize its vision of ‘Smarter AI for All’ and further lead in the AI era. In the past fiscal year, the Group achieved a record high percentage for both R&D headcount at 26.2%, as well as a R&D expense to revenue ratio of 3.6%.

Looking ahead, the Group is encouraged by its performance and momentum in the 2nd half of the fiscal year and is optimistic about the outlook for the year ahead where it will continue to lead in AI, invest in innovation, and seize on the unprecedented opportunities presented by hybrid AI as it accelerates growth and sustainable profitability increases across its entire business.

Lenovo’s Board of Directors declared a final dividend of 3.8 US cents or 30.0 HK cents per share for the fiscal year ended March 31, 2024.

Chairman and CEO quote – Yuanqing Yang:

“Lenovo’s fourth quarter results clearly demonstrate that we have not only resumed growth across all our businesses but that our business momentum is accelerating, driven by the unprecedented opportunities brought by Hybrid AI. Fueled by our intelligent transformation strategy and years of investment in innovation, we’ve built a full stack of AI capabilities and are at the forefront of pioneering the revolutionary AI PC market. Our vision in the AI era is Smarter AI for All. Supported by our strong execution, persistent innovation, operational excellence, and ecosystem partnerships, we are confident we can deliver sustainable growth and profitability improvement in the coming year.”

Financial Highlights:

 

Q4 23/24

US$ millions

Q4 22/23

US$ millions

Change

 

FY 23/24

US$ millions

FY 22/23

US$ millions

Change

 

 

Group Revenue

13,833

12,635

9%

 

56,864

61,947

(8%)

 

Pre-tax income

309

130

137%

 

1,365

2,136

(36%)

 

Net Income

(profit attributable to equity holders)

248

114

118%

 

1,011

1,608

(37%)

 

Net Income

(profit attributable to equity holders – non-HKFRS) [1]

218

284

(23%)

 

1,038

1,878

(45%)

 

 

 

Basic earnings per share (US cents)

2.02

0.95

1.07

 

8.41

13.50

(5.09)

 

Solutions and Services Group (SSG): Strong growth and profitability, driving AI solutions

Q4 and full year FY23/24 performance:

  • Strengthened SSG’s position as a growth engine and profit contributor by delivering more than 10 percent year-on-year revenue growth to US$1.8 billion, and high profitability with an operating margin exceeding 21% - double-digit revenue growth and operating margin for 12 consecutive quarters. Revenue for the full fiscal year was US$7.5 billion, growing at 12% year-on-year and an operating margin of nearly 21%.
  • Managed Services and Project and Solutions Services revenue mix grew five points year-on-year, now accounting for 55% of SSG’s total business for the quarter.
  • Hero offerings such as Digital Workplace Solutions and TruScale for Hybrid Cloud have both delivered rapid growth.

Opportunities and Sustainable Growth:

  • Looking ahead, SSG will continue to meet the increasing customer demand by moving fast to build AI-native and AI-embedded solutions and services.
  • The Care of One platform, Cyber Resiliency as a Service and the decisioning tool Lenovo Intelligent Sustainability Solutions Advisor (LISSA) use the power of AI to deliver hyper-personalized employee experiences, increased productivity, enhanced security and sustainable IT choices.

Infrastructure Solutions Group (ISG): Regained momentum

Q4 and full year FY23/24 performance:

  • Q4 revenue resumed growth, with double-digit year-on-year growth of 15%, taking ISG’s revenue for the quarter to US$2.5 billion – a new record high for a fourth quarter.
  • Storage, software and services businesses all achieved hypergrowth, with the combined revenue increasing more than 50% year-on-year. High Performance Computing revenue hit a record high.
  • For the full year ISG achieved quarter-on-quarter revenue growth for three consecutive quarters and achieved its second highest ever fiscal year revenue.

Opportunities and Sustainable Growth:

  • AI servers are expected to grow nearly twice as fast as the broad server market as the market shifts to AI infrastructure.
  • ISG will broaden its portfolio and convert its pipeline to capture new opportunities, as well as leveraging its strengths in traditional servers, edge, storage, software and services to capture growth and resume profitability.

Intelligent Devices Group (IDG): Solid growth, strengthened leadership

Q4 and full year FY23/24 performance:

  • IDG continued to deliver a solid quarter, strengthening its global market leadership for PCs with a market share of 22.9%, a significant premium to the market, and industry leading profitability. Revenue for the quarter was US$10.5 billion, and for the full year was US$44.6 billion.
  • The PC business was no. 1 in four out of five geographies, achieving record high market share in North America.
  • The smartphone business delivered remarkable growth, growing double digits in both shipments and revenue year-on-year, with substantial premium to the market.
  • IDG’s profitability for the full year was resilient, in spite of a weaker than expected market in the first half of the fiscal year. PCs, tablets, and smartphones all resumed growth in the second half of the fiscal year.

Opportunities and Sustainable Growth:

  • Looking ahead, the volume of PC market is expected to recover to pre-Covid levels, with smartphone already having returned to double-digit year-on-year hypergrowth.
  • AI PCs will gradually grow from premium to mainstream over the next three years as Lenovo has shipped its first wave of AI PCs and more will ship in the coming quarters, driving a new refresh cycle in the PC market.
  • Expanding AI from PCs to phones and tablets, building seamless collaboration between devices with Smart Connect software solution.

ESG and corporate highlights

Achievements, announcements, and notable commitments over the past quarter include:

  • The Group was also awarded ‘Best Value Chain Initiative’, ‘Best Green Product’, and received a recognition of ‘highly commended’ in the category of ‘Circular Economy Company of the Year’ at the global CRN Sustainability Tech Summit.
  • In February, Lenovo joined UNESCO’s commitment for responsible AI, which asks companies to apply timely measures to ‘prevent, mitigate, or remedy’ potential adverse effect of AI. This commitment is in addition to Lenovo’s own internal responsible AI committee, a governance framework that covers ethical, legal, safety, privacy and accountability for any AI products, services, and solutions.

[1] non-HKFRS measure was adjusted by excluding net fair value changes on financial assets at fair value through profit or loss, amortization of intangible assets resulting from mergers and acquisitions, mergers and acquisitions related charges, restructuring and other charges, gain on remeasurement of a written put option liability; and the corresponding income tax effects, if any.

About Lenovo

Lenovo is a US$57 billion revenue global technology powerhouse, ranked #217 in the Fortune Global 500, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company with a pocket-to cloud portfolio of AI-enabled, AI-ready, and AI-optimized devices (PCs, workstations, smartphones, tablets), infrastructure (data center, storage, edge, high performance computing and software defined infrastructure), software, solutions, and services. Lenovo’s continued investment in world-changing innovation is building a more equitable, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY). To find out more visit https://www.lenovo.com, and read about the latest news via our StoryHub

LENOVO GROUP

FINANCIAL SUMMARY

For the quarter and year ended March 31, 2024

(in US$ millions, except per share data)

 

 

Q4
FY23/24

Q4
FY22/23

 

Y/Y CHG

 

 

FY23/24

 

FY22/23

 

Y/Y CHG

Revenue

 

 

13,833

12,635

9%

 

56,864

61,947

(8)%

Gross profit

 

 

2,428

2,143

13%

 

9,803

10,501

(7)%

Gross profit margin

 

 

17.6%

17.0%

0.6 pts

 

17.2%

17.0%

0.2 pts

Operating expenses

 

 

(1,939)

(1,852)

5%

 

(7,797)

(7,832)

(0)%

R&D expenses
(included in operating expenses)

 

 

(532)

(550)

(3)%

 

(2,028)

(2,195)

(8)%

Expenses-to-revenue ratio

 

 

14.0%

14.7%

(0.7) pts

 

13.7%

12.6%

1.1 pts

Operating profit

 

 

489

291

68%

 

2,006

2,669

(25)%

Other non-operating income/(expenses) – net

 

 

(180)

(161)

12%

 

(641)

(533)

20%

Pre-tax income

 

 

309

130

137%

 

1,365

2,136

(36)%

Taxation

 

 

(56)

(24)

124%

 

(263)

(455)

(42)%

Profit for the period/year

 

 

253

106

140%

 

1,102

1,681

(34)%

Non-controlling interests

 

 

(5)

8

N/A

 

(91)

(73)

26%

Profit attributable to equity holders

 

 

248

114

118%

 

1,011

1,608

(37)%

Profit attributable to equity holders – non-HKFRS[1]

 

 

218

284

(23)%

 

1,038

1,878

(45)%

Earnings per share (US cents)
Basic
Diluted

 


2.02
1.95


0.95
0.93


1.07
1.02

 


8.41
8.05


13.50
12.74


(5.09)
(4.69)

 

 



Contacts

Hong Kong – Angela Lee, angelalee@lenovo.com, +852 2516 4810
London – Charlotte West, cwest@lenovo.com, +44 7825 605720
Zeno Group LenovoWWcorp@zenogroup.com