West African Monetary Institute (WAMI) Partners with EMTECH SOLUTIONS INC to Modernize Fintech Regulatory Frameworks Across the West African Monetary Zone

 ACCRA, Ghana & NEW YORK 

(BUSINESS WIRE) -- The West African Monetary Institute (WAMI) and EMTECH SOLUTIONS Inc. today announced a strategic partnership to modernize country-level and regional regulatory sandboxes, enabling the harmonization of heterogeneous Fintech regulatory policies and frameworks across the West African Monetary Zone (WAMZ). The collaboration aims at strengthening financial integration across the WAMZ member states.

WAMI and EMTECH will establish a knowledge and collaboration program called WAMZ RegEX, which focuses on showcasing regulatory innovation, sharing insights from global and regional regulatory sandbox benchmarking, onboarding a cohort of WAMZ regulatory sandboxes to conduct rapid pilots, and promoting value. Additionally, the partnership will involve publishing research and case studies, as well as capacity-building programs and thought-leadership workshops.

Olorunsola E. Olowofeso, Director General of the West African Monetary Institute (WAMI), emphasized the importance of the partnership saying, "Our collaboration with EMTECH marks a new chapter in our commitment to creating a unified financial landscape in the WAMZ and signifies a critical step towards achieving a more integrated and technologically advanced financial ecosystem in West Africa. We look forward to the positive impact this partnership will have on our member states and the broader West African region."

Souleymane Tall, Director of Financial Integration at WAMI, highlighted the strategic value of this collaboration and stated that the partnership with EMTECH would align with our core mission to promote financial integration and regional economic development. By working together, we could unlock new opportunities, improve access to financial services, and contribute to the overall growth and stability of the West African Monetary Zone.

Tunji Odumuboni, Executive Director, Africa at EMTECH, remarked, "We are excited and honored to collaborate with WAMI to drive financial integration and economic development within the WAMZ." EMTECH’s expertise in Central Bank Digital Currency (CBDC) and Digital Regulatory Sandbox technology will support WAMI and WAMZ member states in fostering an environment conducive to financial innovation.

Carmelle Cadet, Founder and CEO of EMTECH added, "The collaboration between EMTECH and WAMI aligns with our mission of making financial markets inclusive and resilient for everyone, by modernizing central banking infrastructure."

“We are eager to work with WAMI to deploy solutions addressing local and regional fintech innovation and regulatory frameworks in the West African Monetary Zone." Cadet continued, “As many countries are developing fintech regulatory frameworks, a regulatory sandbox is a powerful tool to support safe innovations and capitalize on investment opportunities and economic growth. From the U.S. to Europe, regulators need novel new tools. By joining efforts with WAMI, we are committed to working closely with all 6 member states and support them along this new journey of modern central banking in Africa. In EMTECH, they have a real partner for the long haul.”

For more information about the partnership between WAMI and EMTECH, please contact WAMI Press Contact at +233 (0)302 743801 or info@wami-imao.org and EMTECH Press Contact at +1 415 889-7444 or info@emtech.com.

About the West African Monetary Institute (WAMI)

The West African Monetary Institute (WAMI) is an organization established to undertake technical preparations for the establishment of a West African central bank and launching of a single currency for the West African Monetary Zone (WAMZ). The Institute's overarching mission is to conduct preparatory activities for the launch of a monetary union, including research and publication, data collection and sharing, and the dissemination of information to facilitate trade integration, financial sector integration, payments system development, and statistical harmonization.

About EMTECH SOLUTIONS, INC.

EMTECH is a modern central bank technology and services company offering an integrated SaaS platform with products such as the Digital Regulatory Sandbox and Central Bank Digital Currency (CBDC). EMTECH's innovative solutions empower central banks, financial institutions, and regulators to navigate the rapidly evolving landscape of financial services innovation and regulation. EMTECH enables its partners to address local and regional challenges, foster financial inclusion, and drive sustainable economic growth by providing cutting-edge technology solutions and services.

 

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Contacts

West African Monetary Institute (WAMI)

Email: info@wami-imao.org

+233 (0)302 743801

For EMTECH SOLUTIONS, INC.

Jessica Rees

Email: Jess@publicity.im

+1 415 889-7444

Skyflow Radically Simplifies Data Residency

PALO ALTO, Calif. - Friday, 26. May 2023

Leading SaaS and B2C companies launch in new regions in weeks, not years.

(BUSINESS WIRE)--Today Skyflow, the data privacy vault company, announced new data residency capabilities including Asia-Pacific instances in Japan, Indonesia, India, and Bahrain, and an expansion of its footprint in EMEA and North America.

With Skyflow, companies that store sensitive customer data can meet regulatory requirements for localized storage, provable and auditable data protection, and governance – simply by leveraging Skyflow’s global vault infrastructure. This enables global expansion to reach new customers in new markets, while minimizing complexity and cost. For example, SaaS ISVs can scale and sell their product in both EMEA and APAC without adding instances.

Replicating Instances is Expensive and Slow

Today, companies that want to expand internationally face a technically complex and expensive proposition: replicate all of your cloud infrastructure, databases, and data warehouses by adding instances in each region before onboarding new customers in that region.

As more countries implement data protection laws, some businesses that were previously compliant now face the need to re-architect their customer data platform (CDP) and cloud infrastructure.

With Skyflow, companies have a better option: add a data privacy vault in each region with data localization requirements, and store sensitive customer data in that local vault. Skyflow’s unique polymorphic encryption and tokenization capabilities let you do this without losing the ability to run workflows, analytics, or even machine learning while maintaining compliance.

Launch in New Regions in Weeks

One Skyflow customer, a Fortune 500 computer hardware company, was able to launch a new product in 30 countries across six regions in just three weeks without replicating their CDP or cloud infrastructure. They provisioned Skyflow vaults in each region, and stored their customer PII locally, all using Skyflow’s simple, yet powerful API.

“Our customers love that they can run their businesses globally without worrying about expensive replication and duplication. By isolating the PII and storing it locally, they meet localization requirements and also enhance security and governance controls,” said Anshu Sharma, co-founder and CEO of Skyflow. “We run a global network of cloud infrastructure so you don’t have to.”

“Skyflow enabled us to set up vaults in different regions quickly – such as Bahrain and the UAE – without having to spend money and resources replicating our infrastructure. Implementation was easy, so we were able to quickly start supporting customers across EMEA while ensuring privacy and compliance," said Michael Tomlins, co-founder and CEO of Apaya.

Read about Skyflow’s data residency solution here.

About Skyflow

Skyflow is a data privacy vault company built to radically simplify how companies isolate, protect and govern their customers’ most sensitive data. With its global network of data privacy vaults, Skyflow helps companies meet complex data localization requirements. Skyflow customers span verticals like fintech, retail, travel, and healthcare. Skyflow is headquartered in Palo Alto, California and was founded in 2019. For more information, visit www.skyflow.com or follow on Twitter and LinkedIn.

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Contacts

Ali Rae Hunt
alirae.hunt@skyflow.com

Takeda and HUTCHMED Announce New Drug Application (NDA) for Fruquintinib for Treatment of Previously Treated Metastatic Colorectal Cancer Granted Priority Review

 OSAKA, Japan & CAMBRIDGE, Mass. & HONG KONG & SHANGHAI & FLORHAM PARK, N.J. - Friday, 26. May 2023 AETOSWire Print 

− Prescription Drug User Fee Act (PDUFA) Target Action Date Set for November 30, 2023

− NDA Includes Results From the Phase 3 FRESCO-2 and FRESCO Clinical Trials

(BUSINESS WIRE) -- Takeda (TSE:4502/NYSE:TAK) and HUTCHMED (China) Limited (Nasdaq/AIM:HCM, HKEX:13) (HUTCHMED) today announced that the U.S. Food and Drug Administration (FDA) has granted priority review of the New Drug Application (NDA) for fruquintinib, a highly selective and potent inhibitor of vascular endothelial growth factor receptors (VEGFR) -1, -2 and -3 for the treatment of adult patients with previously treated metastatic colorectal cancer (CRC). If approved, fruquintinib will be the first and only highly selective inhibitor of all three VEGF receptors approved in the U.S. for previously treated metastatic CRC.1,2 The Prescription Drug User Fee Act (PDUFA) goal date assigned by the FDA for this NDA is November 30, 2023.

“We are confident that fruquintinib has the potential to transform the treatment landscape for those living with previously treated metastatic colorectal cancer, as demonstrated by its strong clinical profile,” said Awny Farajallah, M.D., head of Global Medical Affairs Oncology at Takeda. “There are significant needs for patients with this disease in the U.S., and we believe fruquintinib has the potential to address these needs regardless of patients’ biomarker status. We look forward to continuing conversations with the FDA with the goal to make this therapy available to patients as soon as possible.”

The NDA for fruquintinib includes results from the Phase 3 FRESCO-2 trial along with data from the Phase 3 FRESCO trial conducted in China. FRESCO-2 is a global Phase 3 multi-regional clinical trial (MRCT) conducted in the U.S., Europe, Japan and Australia investigating fruquintinib plus best supportive care (BSC) vs placebo plus BSC in patients with previously treated metastatic CRC. The FRESCO-2 trial met its primary and key secondary endpoints, showing a significant and clinically meaningful improvement in overall survival (OS) and progression-free survival (PFS), respectively. Fruquintinib has been generally well tolerated in patients to date.

“The clinical benefit of fruquintinib has been confirmed in multiple ways, from global clinical studies to commercialization in China. We are pleased to have Takeda as our partner furthering development and commercialization of fruquintinib outside of China,” said Dr. Michael Shi, Head of R&D and Chief Medical Officer, HUTCHMED. “Today’s acceptance marks a significant advancement towards the goal of providing patients with previously treated metastatic colorectal cancer a much-needed therapeutic option, given the limited treatment options currently available to patients. This also supports our ongoing vision to design and develop differentiated molecules that help patients with high unmet needs globally.”

Fruquintinib is currently approved in China under the brand name ELUNATE®. Approval in China was based on the results of the FRESCO study, a Phase 3 pivotal registration trial of fruquintinib in 416 patients with metastatic CRC in China, published in The Journal of the American Medical Association, JAMA, in June 2018 (NCT02314819).3 In March 2023, HUTCHMED and Takeda closed an exclusive licensing agreement to further the global development, commercialization and manufacture of fruquintinib outside of China.

About Fruquintinib

Fruquintinib is a highly selective and potent oral inhibitor of VEGFR -1, -2 and -3. VEGFR inhibitors play a pivotal role in blocking tumor angiogenesis. Fruquintinib was designed to improve kinase selectivity with the intention of minimizing off-target toxicities, improving tolerability and providing more consistent target coverage. Fruquintinib has been generally well tolerated in patients to date and is being investigated in combinations with other anti-cancer therapies.

About FRESCO-2

The FRESCO-2 study is a multi-regional clinical trial conducted in the U.S., Europe, Japan and Australia investigating fruquintinib plus BSC vs placebo plus BSC in patients with previously treated metastatic CRC. As previously disclosed, the 691-patient study met its primary endpoint of OS in patients with metastatic CRC who had progressed on standard chemotherapy and relevant biologic agents and who had progressed on, or were intolerant to, TAS-102 and/or regorafenib. In addition to OS, a statistically significant improvement in PFS, a key secondary endpoint, was observed. Fruquintinib has been generally well tolerated in patients to date. Summary results were initially presented at the European Society for Medical Oncology (ESMO) Congress in September 2022.4 Additional details of the study may be found at clinicaltrials.gov, using identifier NCT04322539.

About CRC

CRC is a cancer that starts in either the colon or rectum. According to the International Agency for Research on Cancer, CRC is the third most prevalent cancer worldwide, associated with 935,000 deaths in 2020.5 In the U.S., it is estimated that 153,000 patients will be diagnosed with CRC and 53,000 deaths from the disease will occur in 2023.6 In Europe, CRC was the second most common cancer in 2020 with approximately 520,000 new cases and 245,000 deaths. In Japan, CRC was the most common cancer with an estimated 148,000 new cases and 60,000 deaths in 2020.5 Although early-stage CRC can be surgically resected, metastatic CRC remains an area of high unmet need with poor outcomes and limited treatment options. Some patients with metastatic CRC may benefit from personalized therapeutic strategies based on molecular characteristics; however, most patients have tumors that do not harbor actionable mutations.7,8,9,10,11

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 disease, plasma-derived therapies, neuroscience, oncology 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.

About HUTCHMED

HUTCHMED (Nasdaq/AIM:HCM; HKEX:13) is an innovative, commercial-stage, biopharmaceutical company. It is committed to the discovery and global development and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases. It has approximately 5,000 personnel across all its companies, at the center of which is a team of about 1,800 in oncology/immunology. Since inception it has focused on bringing cancer drug candidates from in-house discovery to patients around the world, with its first three oncology drugs now approved and marketed in China. For more information, please visit: www.hutch-med.com or follow us on LinkedIn.

Takeda 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.

Takeda 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.

HUTCHMED Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect HUTCHMED’s current expectations regarding future events, including its expectations regarding the submission of a NDA for fruquintinib for the treatment of CRC with the FDA and the timing of such submission, the therapeutic potential of fruquintinib for the treatment of patients with CRC and the further clinical development of fruquintinib in this and other indications. Forward-looking statements involve risks and uncertainties. Such risks and uncertainties include, among other things, assumptions regarding the timing and outcome of clinical studies and the sufficiency of clinical data to support NDA approval of fruquintinib for the treatment of patients with CRC or other indications in the U.S. or other jurisdictions such as Europe or Japan, its potential to gain approvals from regulatory authorities on an expedited basis or at all; the efficacy and safety profile of fruquintinib; HUTCHMED’s ability to fund, implement and complete its further clinical development and commercialization plans for fruquintinib; the timing of these events; each party’s ability to satisfy the terms and conditions under the license agreement; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials or the regulatory pathway for fruquintinib; Takeda’s ability to successfully develop and commercialize fruquintinib; and the impact of the COVID-19 pandemic on general economic, regulatory and political conditions. In addition, as certain studies rely on the use of other drug products such as paclitaxel as combination therapeutics with fruquintinib, such risks and uncertainties include assumptions regarding the safety, efficacy, supply and continued regulatory approval of these therapeutics. Such forward-looking statements include, without limitation, statements regarding the plan to develop and commercialize fruquintinib under the license agreement; potential payments under the license agreement, including the upfront payment and any milestone or royalty payments; potential benefits of the license agreement; and HUTCHMED’s strategy, goals and anticipated milestones, business plans and focus. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. For further discussion of these and other risks, see HUTCHMED’s filings with the U.S. Securities and Exchange Commission, on AIM and on The Stock Exchange of Hong Kong Limited. HUTCHMED undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.

Takeda 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.

_________________________

1 Xu X, et al. Efficacy and safety of regorafenib and fruquintinib as third-line treatment for colorectal cancer: a narrative review. Transl Cancer Res 2022;11(1):276-287. doi: 10.21037/tcr-20-3539

2 Sun Q, et al. (2014) Discovery of fruquintinib, a potent and highly selective small molecule inhibitor of VEGFR 1, 2, 3 tyrosine kinases for cancer therapy, Cancer Biol Ther. 2014 15:12, 1635-1645. Doi: 10.4161/15384047.2014.964087

3 Li J, Qin S, Xu RH, et al. Effect of Fruquintinib vs Placebo on Overall Survival in Patients With Previously Treated Metastatic Colorectal Cancer: The FRESCO Randomized Clinical Trial. JAMA. 2018;319(24):2486-2496. doi:10.1001/jama.2018.7855.

4 Dasari NA, et al. LBA25 – FRESCO-2: A global phase 3 multiregional clinical trial (MRCT) evaluating the efficacy and safety of fruquintinib in patients with refractory metastatic colorectal cancer. Ann Oncol. 2022 Sep;33(suppl_7): S808-S869. 10.1016/annonc/annonc1089.

5 Sung H, et al. Global Cancer Statistics 2020: GLOBOCAN Estimates of Incidence and Mortality Worldwide for 36 Cancers in 185 Countries. CA Cancer J Clin. 2021;71(3):209-249. doi:10.3322/caac.21660

6 Siegel RL, al. Colorectal cancer statistics, 2023 [published online ahead of print, 2023 Mar 1]. CA Cancer J Clin. 2023;10.3322/caac.21772. doi:10.3322/caac.21772

7 Bando H, et al. Therapeutic landscape and future direction of metastatic colorectal cancer. Nat Rev Gastroenterol Hepatol (2023). Doi:10.1038/s41575-022-00736-1

8 D'Haene N, et al. Clinical application of targeted next-generation sequencing for colorectal cancer patients: a multicentric Belgian experience. Oncotarget. 2018;9(29):20761-20768. Published 2018 Apr 17. doi:10.18632/oncotarget.25099

9 Venderbosch, et al. (2014). Mismatch repair status and braf mutation status in metastatic colorectal cancer patients: A pooled analysis of the Cairo, Cairo2, coin, and Focus Studies. Clinical Cancer Research, 20(20), 5322–5330. https://doi.org/10.1158/1078-0432.ccr-14-0332

10 Koopman, M., et al. (2009). Deficient mismatch repair system in patients with sporadic advanced colorectal cancer. British Journal of Cancer, 100(2), 266–273. https://doi.org/10.1038/sj.bjc.6604867

11 Ahcene Djaballah S, et al. HER2 in Colorectal Cancer: The Long and Winding Road From Negative Predictive Factor to Positive Actionable Target. Am Soc Clin Oncol Educ Book. 2022;42:1-14. doi:10.1200/EDBK_351354

 

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Contacts

Takeda Media Contacts:

Japanese Media

Jun Saito

Jun.Saito@takeda.com

U.S. and International Media

Sara Noonan

Sara.Noonan@takeda.com

+1 (508) 566-2408

Emma Nash

Emma.Nash@takeda.com

+1 (404) 927-9113

HUTCHMED Contacts:

Investor Enquiries

Mark Lee, Senior Vice President +852 2121 8200

Annie Cheng, Vice President +1 (973) 306-4490

Media Enquiries

Americas – Brad Miles, Solebury Strategic Communications +1 (917) 570 7340 (Mobile) / bmiles@soleburystrat.com

Europe – Ben Atwell / Alex Shaw, FTI Consulting +44 20 3727 1030 / +44 7771 913 902 (Mobile) / +44 7779 545 055 (Mobile) / HUTCHMED@fticonsulting.com

Asia – Zhou Yi, Brunswick +852 9783 6894 (Mobile) / HUTCHMED@brunswickgroup.com

Nominated Advisor

Atholl Tweedie / Freddy Crossley / Daphne Zhang

Panmure Gordon +44 (20) 7886 2500

Global Talent Shines at II Moscow Interior and Design Week

 Moscow, Russia - Friday, 26. May 2023 AETOSWire  

 

The Russian capital has just finished hosting the II Moscow Interior and Design Week, which combined several major activities for industry: expo and marketplace, open discussions, lectures and workshops.

 

For several days, exhibition pavilions in Moscow were transformed into venues where companies and creators from all over the world showcased their creative furniture and interior design solutions, along with modern installations, while the attendees had an opportunity to buy the latest industry novelties at a discount.

 

This year's event brought together more than 650 Russian and international brands: leaders and trend-setters in the industry. The exhibition program saw contributions from foreign companies representing India, Peru, Turkey, Iran, Vietnam, and other countries. Flagship brands, up-and-coming businesses, and authentic local companies presented their products to global interior design enthusiasts and a wide audience of potential buyers all in one place.

 

The II Moscow Interior and Design Week also provided a platform for establishing and strengthening international partnerships in the industry. This was demonstrated following a cooperation agreement signed with PMVSN LLC from the United Arab Emirates. In addition, several international cooperation agreements were signed with companies from China, India, Kazakhstan, Kyrgyzstan, and Armenia. Delegations from Costa Rica, Nicaragua, Peru, Algeria, Uzbekistan, Oman, Japan, and Yemen also attended the event.

 

Moscow Mayor Sergey Sobyanin notes that «More than 650 companies from Russia and friendly countries offered their solutions. We saw 46% more brands and 20% more visitors at this year’s event compared to the inaugural event in Moscow in November 2022. Additionally, experts that joined the business program talked about the current state and prospects of the industry in Russia and in the world, modern approaches to designing residential and commercial spaces, and other important issues».

 

Over and above its importance, the exhibition was crucial in bringing together industry players, value-adding education programs, and renowned speakers from all over the world. Among them, were the famous Brazilian designer and Casa Vogue Design Award finalist Juliana Lima Vasconcellos, and GQ Designer of the Year Tristan du Plessis from South Africa. Over 152 presentations were made by speakers from Russian and 11 international speakers from eight countries including Thailand, Peru, Mexico, India, and others. Over a hundred thematic sessions were also showcased to a large general and specialized audience.

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Contacts

Melwyn Abraham

melwyn@matrixdubai.com

Merck Highlights Commitment to Improving Cancer Outcomes at ASCO 2023

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

(BUSINESS WIRE) -- Merck, a leading science and technology company, today announced that 43 abstracts covering several modalities and mechanisms will be presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting, June 2-6, Chicago, Ill., US. New data for the medicines BAVENCIO® (avelumab), ERBITUX® (cetuximab), and TEPMETKO® (tepotinib) and pipeline assets including the first-in-class investigational IAP (inhibitor of apoptosis protein) inhibitor xevinapant demonstrate the Company’s efforts to pioneer novel medicines intended to improve the lives of people living with cancer.

“The research we will present at ASCO 2023 demonstrates that we are not only maximizing the impact of our standard-of-care treatments but also advancing development programs focused on synergistic approaches targeting key cancer pathways and mechanisms,” said Victoria Zazulina, M.D., Head of Development Unit, Oncology, for the Healthcare business of Merck.

Key presentations include:

BAVENCIO (Abstracts: 4515, 4516) clinical data reinforce its role as a standard of care in first-line maintenance for advanced urothelial carcinoma (UC): Poster discussions, including long-term safety analyses and an analysis of quality-adjusted survival from the Phase III JAVELIN Bladder 100 study, confirm the acceptable long-term benefit-risk profile as well as the net benefit estimate of BAVENCIO first-line (1L) maintenance and further support its use as a standard of care for advanced UC. As part of the JAVELIN Bladder regimen, BAVENCIO first-line maintenance has demonstrated the longest survival benefit seen to date in a global, randomized Phase III trial in advanced UC.

Xevinapant (Abstracts: TPS6101, 6027) preclinical data supporting dosing rationale for this investigational IAP inhibitor as well as a trial-in-progress poster outlining design of the recently initiated Phase III XRay Vision® study in locally advanced squamous cell carcinoma of the head and neck (LA SCCHN): Preclinical data demonstrate the benefit of extended xevinapant treatment beyond the completion of xevinapant plus radiotherapy (RT) and support the rationale for administration of six cycles of xevinapant in the ongoing Phase III studies, while also indicating that restoring sensitivity to apoptosis may address some unmet treatment needs in LA SCCHN. The trial design of the ongoing randomized Phase III XRay Vision study also will be featured. This study is assessing xevinapant plus RT in patients with resected, high-risk LA SCCHN who are not eligible for cisplatin.

TEPMETKO (Abstracts: 9021, 9060, 9070, 9074) data continue to demonstrate durable efficacy for first-line treatment of METex14 advanced non-small cell lung cancer (NSCLC): Long-term outcomes from the VISION study, the largest study of a MET inhibitor in patients with METex14-skipping advanced NSCLC (N=313), demonstrate the robust and durable clinical activity of TEPMETKO, particularly in the first-line setting, detected by liquid and/or tissue biopsy: with median follow-up of 32.6 months, in 164 first-line patients, overall response rate was 57.3% (95% CI: 49.4, 65.0) and median duration of response was 46.4 months (13.8, not estimable). A manageable safety profile further supports its use in clinical practice. Additional presentations for TEPMETKO include analyses from the INSIGHT 2 study in EGFRm METamp NSCLC for patients treated with TEPMETKO plus osimertinib.

ERBITUX (Abstracts: 3507, 3544, 3603) data to be presented at the congress add to the growing body of evidence supporting the role of cetuximab-based therapies across the continuum of care in the treatment of RAS wild-type metastatic colorectal cancer and as a backbone of treatment in SCCHN.

Additional company-sponsored activity at ASCO:

CME Live Symposium & Webcast, “After More Than a Decade: Can We Now Enhance Treatment of Patients With LA SCCHN?” with course director Kevin Harrington, PhD, FRCR, FRCP, The Institute of Cancer Research, The Royal Marsden Hospital, London, UK, on June 3, 7:00-8:00 PM CDT, Hilton Chicago (720 South Michigan Ave.), room Continental A.

A UC Biosphere™ Connect event, “First-Line Maintenance Therapy: Supporting Patient Care in aUC” on June 4, 6:30-8:00 PM CDT, Marriott Marquis Chicago (connected to McCormick Place, 2121 S. Prairie Ave.), Great Lakes Ballroom C, Level 2)

In addition to the data being presented at ASCO 2023, Merck will launch a new educational initiative for oncology professionals on the unmet medical need in LA SCCHN, cancer’s resistance to apoptosis, and the role of apoptosis proteins. More information on the initiative can be found at www.TheWallinSCCHN.com.

Select Merck-related abstracts accepted for presentation at ASCO 2023 include (all times in CDT):

Title

Lead Author

Abstract

Session Information

BAVENCIO (avelumab)

Advanced Urothelial Carcinoma

Long-term safety of avelumab first-line (1L) maintenance for advanced urothelial carcinoma (aUC) in the JAVELIN Bladder 100 trial

Bellmunt J

4516

Genitourinary Cancer: Kidney and Bladder

Saturday, June 3, 2023

8:00AM-11:00AM

Poster Discussion Time:

3:00PM-4:30PM

 

Estimated net benefit of avelumab (AVE) + best supportive care (BSC) vs BSC alone for patients (pts) with advanced urothelial carcinoma (aUC) using a quality-adjusted time without cancer symptoms or toxicity (Q-TWiST) analysis

 

Powles T

4515

Genitourinary Cancer: Kidney and Bladder

Saturday, June 3, 2023

8:00AM-11:00AM

 

Poster Discussion Time:

3:00PM-4:30PM

Real-world response (rwR) rates and clinical outcomes of patients treated with first-line (1L) platinum-based chemotherapy (PBC) for advanced urothelial cancer (aUC)

 

Moon HH

4567

Genitourinary Cancer: Kidney and Bladder

Saturday, June 3, 2023

8:00 AM-11:00 AM

Metastatic Merkel Cell Carcinoma

Avelumab as second-line or later (2L+) treatment in patients (pts) with metastatic Merkel cell carcinoma (mMCC): analysis of real-world outcomes in France using the CARADERM registry and the French national healthcare database

 

Blom A

9537

Melanoma/Skin Cancers

Saturday, June 3, 2023

1:15PM-4:15PM

Metastatic Colorectal Cancer

Modified FOLFOXIRI plus cetuximab and avelumab as initial therapy in RAS wild-type unresectable metastatic colorectal cancer: results of the phase II AVETRIC trial by GONO

 

Conca V

3575

Gastrointestinal Cancer: Colorectal and Anal

Monday, June 5, 2023

8:00AM-11:00AM

Xevinapant

 

 

 

Phase 3 study of xevinapant plus radiotherapy (RT) for high-risk, cisplatin-ineligible patients with resected, locally advanced squamous cell carcinoma of the head and neck (LA SCCHN)

 

Ferris RL

TPS6101

Head and Neck Cancer

Monday, June 5, 2023

1:15PM-4:15PM

Effect of extended treatment with IAP inhibitor xevinapant post radiotherapy (RT) on efficacy and the tumor microenvironment (TME) in preclinical models

 

Yeung TL

6027

Head and Neck Cancer

Monday, June 5, 2023

1:15PM-4:15PM

TEPMETKO (tepotinib)

 

 

 

Long-term outcomes of tepotinib in patients with MET exon 14 skipping NSCLC from the VISION study

 

Paik P

9060

Lung Cancer: Non-Small Cell Metastatic

Sunday, June 4, 2023

8:00AM-11:00AM

 

Tepotinib + osimertinib for EGFR mutant (EGFRm) NSCLC with MET amplification (METamp) after first-line (1L) osimertinib

 

Tan D

9021

Lung Cancer: Non-Small Cell Metastatic

Sunday, June 4, 2023

8:00AM-11:00AM

Poster Discussion Time:

4:30PM-6:00PM

 

Detection of MET amplification (METamp) in patients with EGFR mutant (m) NSCLC after first-line (1L) osimertinib

 

Yu H

9074

Lung Cancer: Non-Small Cell Metastatic

Sunday, June 4, 2023

8:00AM-11:00AM

Patients with EGFR-mutant (m) MET-altered NSCLC receiving tepotinib with an EGFR tyrosine kinase inhibitor (TKI): a case series

Le X

9070

Lung Cancer: Non-Small Cell Metastatic

Sunday, June 4, 2023

8:00 AM-11:00 AM

 

ERBITUX (cetuximab)

 

 

 

Phase III FIRE-4 study (AIO KRK-0114): Influence of Baseline Liquid Biopsy results in first-line treatment efficacy of FOLFIRI/cetuximab in patients with tissue RAS-WT mCRC

 

Stintzing S

3507

Oral Abstract Session Gastrointestinal Cancer: Colorectal and Anal

Sunday, June 4, 2023

8:00AM-11:00AM

Early tumor shrinkage (ETS) as clinical factor to select maintenance with cetuximab (cet) alone in RAS/BRAF wild-type (wt) metastatic colorectal cancer (mCRC) patients (pts): a secondary endpoint analysis of the ERMES study

 

Orlandi A

3603

Gastrointestinal Cancer: Colorectal and Anal

Monday, June 5, 2023

8:00AM-11:00AM

 

Prognostic role of TP53 variants in the phase III study of FOLFIRI/cetuximab versus FOLFIRI/cetuximab followed by cetuximab (Cet) alone in first-line therapy of RAS and BRAF wild-type (wt) metastatic colorectal cancer (mCRC) patients (ERMES study)

 

Normanno N

3544

Gastrointestinal Cancer: Colorectal and Anal

Monday, June 5, 2023

8:00AM-11:00AM

   

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 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. The Merck-Pfizer strategic alliance regarding BAVENCIO was mutually terminated, with an effective date of June 30, 2023, with Merck regaining exclusive worldwide rights for BAVENCIO.

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) granted accelerated approval for BAVENCIO for the treatment of adults and pediatric patients 12 years and older with metastatic MCC. This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

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 was the first oral MET inhibitor to receive a regulatory approval anywhere in the world for the treatment of advanced NSCLC harboring MET gene alterations, with its approval in Japan in March 2020. In February 2021, the US Food and Drug Administration granted accelerated approval to TEPMETKO, making it the first and only once-daily oral MET inhibitor approved for patients in the US with metastatic NSCLC with METex14-skipping alterations. In February 2022, the European Commission (EC) approved once-daily oral TEPMETKO as monotherapy for the treatment of adult patients with advanced non-small cell lung cancer (NSCLC) harboring alterations leading to mesenchymal-epithelial transition factor gene exon 14 (METex14) skipping, who require systemic therapy following prior treatment with immunotherapy and/or platinum-based chemotherapy.

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.

Merck is also investigating the potential role of tepotinib in treating patients with NSCLC and acquired resistance due to MET amplification in the Phase II INSIGHT 2 study of tepotinib in combination with osimertinib in MET amplified, advanced or metastatic NSCLC harboring activating EGFR mutations that has progressed following first-line treatment with osimertinib.

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 Xevinapant

Xevinapant (formerly known as Debio 1143) is an investigational first-in-class potent oral small-molecule IAP (inhibitor of apoptosis protein) inhibitor for the treatment of LA SCCHN. In preclinical studies, xevinapant restored sensitivity to apoptosis in cancer cells, thereby enhancing the effects of chemotherapy and radiotherapy. Xevinapant, the most clinically advanced IAP inhibitor, improved efficacy outcomes in combination with chemoradiotherapy (CRT), including three-year progression-free survival and five-year survival, compared with placebo plus CRT in a Phase II study in patients with unresected locally advanced squamous cell carcinoma of the head and neck (LA SCCHN). 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 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.

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.

About Merck

Merck, a leading science and technology company, operates across life science, healthcare and electronics. More than 64,000 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 2022, Merck generated sales of € 22.2 billion in 66 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.

 

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Contacts

Your Contact

noelle.piscitelli@emdserono.com

Phone: +1 (781) 427-4351

CORRECTING and REPLACING Belkin Introduces the Ultimate Power Bank – the BoostCharge™ Fast Wireless Charger for Apple Watch + Power Bank 10K

 Featuring fast charging for Apple Watch and 20W USB-C PD for charging iPhone anytime, anywhere

Correction...by Belkin

(BUSINESS WIRE)-- The sentence just beneath the bullets should read "The BoostCharge Pro Fast Wireless Charger for Apple Watch + Power Bank 10K is now available for $99.99 USD on Belkin.com, and coming soon to select retailers worldwide." (instead of "The BoostCharge Pro Fast Wireless Charger for Apple Watch + Power Bank 10K is now available for $99.99 USD on Belkin.com.")

The updated release reads:

BELKIN INTRODUCES THE ULTIMATE POWER BANK – THE BOOSTCHARGE™ FAST WIRELESS CHARGER FOR APPLE WATCH + POWER BANK 10K

Featuring fast charging for Apple Watch and 20W USB-C PD for charging iPhone anytime, anywhere

Belkin, a leading consumer electronics brand for 40 years, today announces a first-of-its-kind power bank providing fast charge capabilities for newer Apple Watch models1 and iPhone simultaneously, on-the-go. Able to fully charge the Apple Watch Series 8 and Apple Watch Series 7 from 0% to 80% in about 45 minutes, and Apple Watch Ultra 0% to 80% in about an hour,2 the BoostCharge Pro Fast Wireless Charger is the perfect solution for portable power in a pinch.

The powerful new charger was designed in California by Belkin’s award-winning design team and intricately engineered to fit most Apple Watch band sizes and styles. It leverages the latest in technology to charge the Apple Watch Series 8 fourteen times, or iPhone 14 twice3.

Product features:

Supports fast charging for Apple Watch Series 8 and Apple Watch Series 7 from 0% to 80% in about 45 minutes, and Apple Watch Ultra 0% to 80% in about an hour2

Built with a 20W USB-C PD port for fast charging the power bank itself as well as an additional device

Provides up to 36 hours of video playback for iPhone 144 with 10,000mAh cell capacity

Built with overcharge protection and fully certified by USB-IF and MFi to deliver safe, fast, efficient power

Supports wireless charging for AirPods Pro (2nd generation)

Includes 12-inch USB-C cable for charging power bank

Ships in plastic-free retail packaging

Connected Equipment Warranty covers up to $2500 for peace of mind

The BoostCharge Pro Fast Wireless Charger for Apple Watch + Power Bank 10K is now available for $99.99 USD on Belkin.com, and coming soon to select retailers worldwide.

Media kit is available for download HERE.

About Belkin

Belkin is an accessories market leader delivering power, protection, productivity, connectivity, audio, security, and home automation solutions for a broad range of consumer electronics and enterprise environments. Designed in Southern California and sold in more than 100 countries around the world, Belkin has been a market leader and innovator for 40 years. Its dedication to people-inspired design and quality informs everything from user testing and prototyping process to regulatory compliance, manufacturing and warranty programs. In 2018 Belkin International merged with Foxconn Interconnect Technology to broaden its global influence while maintaining its steadfast focus on R&D, community, education and sustainability.

____________________________

1 Fast charging is only compatible with Apple Watch Series 7, Apple Watch Series 8, and Apple Watch Ultra. Other models will have regular charge times.

2 Testing conducted by Belkin in October 2022; devices tested with latest watchOS 9.0.1 software. Actual results will vary depending on varying factors, including device age, model and usage environment, for individual users.

3 Data based on internal lab testing. Actual results will vary depending on varying factors for individual users.

4 Maximum additional video playback hours calculated by comparing the cell capacity of this power bank with the maximum video playback hours achievable by the iPhone 14 under normal conditions. Actual results will vary depending on varying factors for individual users.

 

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Contacts

Jen Wei

VP of Global Communications and Corporate Development

Comms@belkin.com

ExaGrid Wins 3 Industry Awards at Network Computing Awards 2023

 2023 Awards Mark ExaGrid’s 5th Consecutive Win at the Annual Awards Ceremony

(BUSINESS WIRE)--ExaGrid®, the industry’s only Tiered Backup Storage solution, today announced that the company was honored with three industry awards, including Bench Tested Product of the Year – Hardware Category, Company of the Year, and Storage Product of the Year, during the Network Computing Awards ceremony, held in London on May 18, 2023.

This year’s awards mark the fifth year of wins for ExaGrid at the Network Computing Awards—the third consecutive year that ExaGrid has won the Storage Product of the Year award, and the fourth consecutive year that ExaGrid has won the Company of Year award.

The Company of the Year and Storage Product of the Year awards are determined by public vote. The Bench Tested Product of the Year – Hardware Category award was chosen by the editorial team at Network Computing Magazine based on an independent product review of ExaGrid’s advanced integration with Veeam and support of Veeam’s features, including Veeam Fast Clone (as of Veeam V12, released in 2023).

“We are very honored to win these three awards. Congratulations to all of the winners of the Network Computing Awards 2023, and many thanks to everyone who voted for us and to the editorial team at Network Computing,” said Bill Andrews, President and CEO of ExaGrid. “ExaGrid continues to innovate its product, offering a next-generation approach to backup storage that provides organizations with the best in data protection: the fastest backup and restore performance, the only scale-out architecture to accommodate data growth, comprehensive security and ransomware recovery, and industry-leading customer support, all at the lowest cost up front and over time. We are proud of our Tiered Backup Storage and grateful for the continued recognition that we have received over the years.”

About ExaGrid

ExaGrid provides Tiered Backup Storage with a unique disk-cache Landing Zone, long-term retention repository, and scale-out architecture. ExaGrid’s Landing Zone provides for the fastest backups, restores, and instant VM recoveries. The Repository Tier offers the lowest cost for long-term retention. ExaGrid’s scale-out architecture includes full appliances and ensures a fixed-length backup window as data grows, eliminating expensive forklift upgrades and product obsolescence. ExaGrid offers the only two-tiered backup storage approach with a non-network-facing tier, delayed deletes, and immutable objects to recover from ransomware attacks.

ExaGrid has physical sales and pre-sales systems engineers in the following countries: Argentina, Australia, Benelux, Brazil, Canada, Chile, CIS, Colombia, Czech Republic, France, Germany, Hong Kong, Iberia, India, Israel, Japan, Mexico, Nordics, Poland, Saudi Arabia, Singapore, South Africa, South Korea, Turkey, United Arab Emirates, United Kingdom, United States, and other regions.

Visit us at exagrid.com and connect with us on LinkedIn. See what our customers have to say about their own ExaGrid experiences and learn why they now spend significantly less time on backup storage in our customer success stories. ExaGrid is proud of our +81 NPS score!

ExaGrid is a registered trademark of ExaGrid Systems, Inc. All other trademarks are the property of their respective holders.

 

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Media:

Mary Domenichelli

ExaGrid

mdomenichelli@exagrid.com

 

 PREVIOUS POST

Experian Named Overall Leader in KuppingerCole’s 2023 Fraud Reduction Intelligence Platforms Leadership Compass Report

 Showcases Experian’s Innovation and Leadership in Fraud Prevention; Recognizes CrossCore as an Overall, Product, Innovation and Market Leader

(BUSINESS WIRE) -- Experian was named an Overall Leader, Innovation Leader, Product Leader and Market Leader in KuppingerCole’s 2023 Fraud Reduction Intelligence Platform (FRIP) Leadership Compass report for its CrossCore® integrated digital identity and fraud platform. The report highlights the critical role that FRIPs play in mitigating the diverse types of fraud and provides valuable, comparative information for businesses looking to mitigate fraud risks.

CrossCore helps clients protect their organizations from fraud and ensure regulatory compliance, using real-time risk analytics and decision-making strategies. The cloud-based, scalable platform offers best-in-class capabilities by augmenting Experian’s industry-leading identity and fraud offerings with a highly curated ecosystem of partners that mitigate riskacross the consumer journey and power the best fraud risk assessment with a 360-degree view of consumer identity.

“We are honored to receive this recognition for the second consecutive time, and it validates the innovation and leadership in fraud prevention we bring to our global customers every day,” said Alex Lintner, Chief Executive Officer, Experian Software Solutions. “Especially rewarding was receiving the highest possible ratings for CrossCore’s enhanced security, ease of deployment and operation, and useability.”

“Experian ranks as an Overall, Product, Innovation, and Market Leader in the 2023 edition of the Leadership Compass on Fraud Reduction Intelligence Platforms,” said John Tolbert, Director of Cybersecurity Research and Lead Analyst at KuppingerCole. “Their solutions feature identity verification, device intelligence, user behavioral analysis, behavioral biometrics, and bot detection. Experian has extensive support for AML, KYC, OFAC, PEP, and sanctions screening for compliance across many jurisdictions. Experian also has a wide-ranging partner network that can bring in additional identity and transactional data for evaluation. Their solutions are globally distributed and highly scalable.”

The Leadership Compass report specifically cites several factors in CrossCore’s rating as an Overall Leader among FRIPs, including comprehensive identity proofing capabilities, with remote document verification; being ideally positioned to detect account opening (AO) fraud; an easily configurable policy and decisioning engine; and massive scalability with data centers across six continents.

KuppingerCole is a global industry analyst firm specializing in identity and access management, governance, fraud, risk and cybersecurity. The Fraud Reduction Intelligence Platform Leadership Compass report provides an overview and comparison of relevant vendors in defined fraud segments across product, innovation and market.

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 21,700 people operating across 30 countries and every day we’re investing in new technologies, talented people, and innovation to help all our clients maximise every opportunity. With corporate headquarters in Dublin, Ireland, we are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.

 

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Contacts

Michael Troncale

Experian Public Relations

+1 714 830 5462

michael.troncale@experian.com

 

Hytera Mission-critical Push-to-talk Solution Wins Flagship Industry Award

HELSINKI - Thursday, 25. May 2023

(BUSINESS WIRE)--Hytera Communications (SZSE: 002583), a leading global provider of professional communications technologies and solutions, received the award of “Best use of critical communications in utilities” with its entry “LECO Electricity MCPTT” at the International Critical Communications Awards (ICCAs) 2023 ceremony held in Helsinki, Finland on May 23. The ICCAs, presented by the Critical Communications Association (TCCA), is a highly-anticipated program recognizing the success of products, organizations, and individuals that have pushed boundaries and capabilities within the field of critical communications. Earlier in April, Hytera’s seven entries were shortlisted by ICCAs.

This Mission-critical Push-to-talk (MCPTT) deployment highlights a clear path for the migration of the private communications network in the utility sector. Working with local partner Dialog Enterprise, Hytera has deployed a customized MCPTT system for LECO, Lanka Electricity Company (Private) Limited. As the rapid-response arm of the Ceylon Electricity Board, LECO provides electrical services to underserved areas and now works with a state-of-the-art radio communications system based on MCPTT over 4G-LTE technology to cover service grids in Galle, Moratuwa, Kalutara, Negombo, Kelaniya, Kotte, and Nugegoda. In the extreme scenario where cellular network coverage is not available, Hytera’s dual-mode rugged radios support device-to-device (D2D) communication empowered by Digital Mobile Radio (DMR) technology. While it proves the versatility of MCPTT to serve utility companies, the project also demonstrates how product innovations, such as dual-mode radios, can win the users’ buy-ins in technology adoption.

“This MCPTT solution operates at a higher priority than Internet services, and also having a device-to-device communication mode are huge pluses for LECO,” said Athula P. De Silva, Chairman of LECO. “Because when connectivity is interrupted due to unforeseeable circumstances–like a sudden violent storm, for instance–we are the professionals whose job it is to bring the network back up. With this, our dispatchers and field engineers are in constant touch since we are in complete control of our own internal communication channel. So, in the event of an outage, power can be restored much faster. If we had chosen the generic mobile voice service or Push-to-talk over Cellular (PoC) instead, our rapid response team’s communications would have been vulnerable to the same disruptive factors and service interruptions as the general public–and that was totally unacceptable. We are the first line of defense against power outages. MCPTT solution is a perfect fit for our requirements.”

Hytera HyTalk MC Mission Critical Services (MCS) system is a multimedia mission-critical communication solution designed for sectors such as public safety, utilities, and transportation. It is fully compliant with the 3GPP MC standards including MCPTT, MCData, and MCVideo. It delivers reliable voice and video communication, high-speed data transfer, and multimedia dispatch services for daily operations. It helps enhance connectivity for better collaboration and improved situational awareness.

Priority Quality of Service (QoS) of HyTalk MC is guaranteed on the servers of the MCPTT platform provider and on the mobile operator's network. This end-to-end QoS ensures that critical communications users are given the highest priority available over any other commercial users. HyTalk MC also enables Professional Mobile Radio (PMR) to LTE interoperability, so that it allows connections among different task forces.

“The award is a great recognition to all the stakeholders of this project, including LECO and Dialog. This case epitomizes how technological advancements are introduced and adopted to empower professionals from the utility sector,” said Ming Kam Wong, deputy GM of Hytera overseas business, who was present at the ICCAs ceremony. “Hytera is humbled to see itself becoming a frequent participant and winner of ICCAs. Thank you to the panel and congratulations to all the winners of ICCAs 2023.”

About Hytera

Hytera Communications Corporation Limited (SZSE: 002583) is a leading global provider of professional communications technologies and solutions. With voice, video and data capabilities, we provide faster, safer, and more versatile connectivity for business and mission critical users. We make the world more efficient and safer by enabling our customers to achieve more in both daily operations and emergency response. Learn more at https://www.hytera.com/en/home.html.

 

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lele.yao@hytera.com

UAE's Technology Innovation Institute Launches Open-Source "Falcon 40B" Large Language Model for Research & Commercial Utilization

 

Calls for Proposals; Global Research Community, SME Entrepreneurs Invited to Leverage Falcon LLM for AI Use Cases

Exceptional Use Case Proposals to Receive "Training Compute Power" as Investment, TII Offers Commercialization Opportunities

 

The Technology Innovation Institute (TII), a leading global scientific research center and the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), today strengthened its growing international influence in the field of artificial intelligence by announcing that "Falcon 40B," the UAE's first large-scale AI model, is now open source for research and commercial use. This pioneering move demonstrates Abu Dhabi's commitment to fostering collaboration across sectors and driving advancements in generative AI. 

Falcon, a foundational large language model (LLM) with 40 billion parameters, trained on one trillion tokens, grants unprecedented access to researchers and small and medium-sized enterprise (SME) innovators alike. TII is providing access to the model’s weights as a more comprehensive open-source package,  with the aim of enabling access to powerful LLM capabilities, promoting transparency and accountability, and supporting innovation and research in the field.

In the current AI ecosystem, developers are finding LLMs that provide access to model weights more appealing due to the enhanced capabilities they offer for fine-tuning compared to those without. While the majority of LLMs have granted exclusive licenses solely to non-commercial users, TII has taken a key stride in offering researchers and commercial users access to the Falcon 40B LLM.

In conjunction with the release of Falcon 40B as an open-source model, TII has launched a call for proposals, inviting scientists, researchers, and visionaries who are enthusiastic about harnessing the potential of the foundation model. They are encouraged to contribute their innovative ideas and leverage the model to build inspiring use cases or explore further possibilities for its application to cover areas like engineering, healthcare, sustainability, coding, and much more.

As an incentive for exceptional research proposals, selected projects will receive “training compute power” in the form of investment, enabling innovators to leverage robust computational resources for accelerated data analysis, complex modeling, and new discoveries. This support will nurture and accelerate the development of novel ideas, providing the necessary resources to turn them into impactful AI solutions with commercial viability and societal benefits.

VentureOne, the commercialization arm of ATRC, will facilitate computation power to productize the most innovative solutions.

"Making Falcon 40B open source represents a critical milestone in our commitment to fostering AI innovation," said H.E.Faisal Al Bannai, Secretary General of the Advanced Technology Research Council (ATRC). "We are disrupting LLM access and enabling researchers and entrepreneurs to come up with the most innovative use cases. We will further support these submissions with computation power as funding through VentureOne, helping to advance a thriving research ecosystem.”

Falcon, first unveiled in March 2023, showcased exceptional performance and underscored the UAE's commitment to technological progress. Based on Stanford University’s HELM LLM benchmarking tool, Falcon 40B outperformed its renowned counterparts in utilizing significantly less training compute power. With only 75 percent of the training compute of OpenAI's GPT-3, 40 percent of DeepMind's Chinchilla AI, and 80 percent of the training compute of Google's PaLM-62B, the tool substantiated TII's commitment to advancing developments in generative AI.  

Dr. Ray O. Johnson, CEO of TII, said: "Computing power plays a pivotal role in expediting AI system training and enabling faster implementation of use cases. As the new fuel that drives technological innovation, the move to offer such support will be game-changing in enhancing the capabilities of innovators, and enabling them to push the boundaries of their projects to achieve remarkable advancements."

Falcon 40B is a breakthrough led by TII’s AI and Digital Science Research Center (AIDRC). The same team also launched NOOR, the world’s largest Arabic NLP model last year, and is on track to develop and announce Falcon 180B soon.  

Dr. Ebtesam Almazrouei Director, AI Cross-Center Unit, TII, said: “The open-source release of Falcon 40B, 7.5B, and 1.3B parameter AI models and our high-quality REFINEDWEB dataset, exemplifies the profound scientific contributions of the UAE. With each breakthrough, we defy limitations, reshape the realm of possibilities, and pave the way for collaborative efforts with transformative impact."

The UAE recently moved up five places to rank as the top Arab country and the 37th out of 166 countries in the UN Frontier Technologies Readiness Index 2023. Complementing a long list of progressive technology milestones, the open-source generative AI model is set to boost the UAE’s credentials as a mainstream AI player.

If you are interested in accessing the Falcon AI models or submitting for the use case call for proposal, we invite you to visit FalconLLM.TII.ae. Falcon LLMs open sourced to date, will be made available under a license built upon the principles of open-source Apache 2.0 software, which allows for a wide range of free use. 

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Contacts

Jennifer Dewan, Senior Director of Communications

jennifer.dewan@tii.ae.

Power2Drive Europe: Mobile Electricity Storage Systems for Private Homes and Businesses – and for a Stable Power Grid

 (BUSINESS WIRE)--According to statistics from the European Alternative Fuels Observatory, over six million electric and hybrid cars were on Europe’s roads in 2022. From 2035 onward, all cars will have to be electric in the EU. With e-mobility booming, there is more and more potential for e-cars to be used as mobile energy storage systems. They can supply electricity to private homes and offices, stabilizing the public power grid in the process. Using vehicle batteries as flexible storage systems in a smart grid in the future will be a crucial step in guaranteeing a stable energy supply and a cost-effective way of achieving climate targets. Visitors at this year’s Power2Drive Europe, the international exhibition for charging infrastructure and e-mobility being held at Messe München on June 14–16, will be able to discover innovations in bidirectional charging. Experts will also be discussing this topic at the accompanying Power2Drive Europe Conference 2023 at the International Congress Center München (ICM).

Electric cars are as environmentally friendly as the electricity that powers them. When doubled up as mobile storage systems, they can also supply private homes with clean energy. With bidirectional charging, for example with Vehicle2Home (V2H), it is possible to optimize the self-consumption of solar power and the costs associated with charging and discharging e-cars when electricity rates are variable.

Vehicle2Building (V2B) takes this concept one step further. Multiple vehicles supply electricity to residential buildings or commercial properties, ensuring that the energy required during peak loads doesn’t have to be sourced from the grid. Both V2H and V2B are behind-the-meter applications. This means that vehicles only feed the electricity back into the residential building or commercial property. “This generally makes Vehicle2Home much easier to implement than Vehicle2Grid. And users can already expect decent margins,” says Timo Kern, Head of Energy System and Markets at the Research Center for Energy Economics (FfE) in Munich.

“So many vehicles and homes are suitable for Vehicle2Home”

With e-mobility booming, there is growing potential for V2H. Vehicles sitting at home during the week because their owners are working from home, work part-time or have a flexible working agreement are ideal – as are cars belonging to commuters, which can be used to store surplus energy over the weekend. When they are parked at home in the evening after work, they can supply electricity to the home. The difference between the domestic electricity price and the photovoltaic feed-in tariff is another major factor: “Since this difference has become much greater with energy prices on the rise, lots of vehicles and homes are now suitable for Vehicle2Home,” says Kern.

Vehicle2Grid (V2G) also has the potential to mobilize the immense power reserves in millions of electric cars in a matter of seconds, helping to secure a stable power supply in the process. In this context, vehicle batteries are used as flexible storage systems in a smart grid, playing a crucial role in guaranteeing a stable energy supply and providing a cost-effective way of achieving climate targets. Think tank Agora Energiewende (German Energy Transformation Initiative) ran the calculations in its study Climate-Neutral Power System 2035. If a quarter of all electric cars use V2G in 2035 and 40 percent of those vehicles are made available to the electricity market on average, the usable output will amount to 28 gigawatts in Germany. V2G also has the potential to reduce dependence on battery storage systems in private homes and on large-scale battery storage systems. And there are benefits for car owners too... They have the opportunity to earn money when they offer some of their vehicle’s battery capacity as a power reserve.

Only a modest number of e-cars are used for bidirectional charging as it stands. As demand grows, however, there will be more and more opportunities for vehicles to be used as electricity storage systems – whether that’s for V2H, V2B, V2G or V2L (Vehicle2Load). Bidirectional wallboxes are still relatively rare for now too. But demand is on the rise here too, so it’s only a matter of time before the relevant charging solutions are readily available in the market. The European Union’s three-year SCALE (Smart Charging Alignment for Europe) project is helping to lay the foundations here, with smart charging solutions for electric vehicles being researched and tested in real-life scenarios. Another aim of the project is to clarify technical, organizational, economic and political uncertainties surrounding the introduction of smart charging, inter-operability and V2X (Vehicle2Everything) solutions. The ultimate goal is to create a new energy ecosystem that benefits from the flexibility of batteries in electric vehicles on a large scale.

Bidirectional charging at the exhibition and Power2Drive Europe Conference

Visitors at Power2Drive Europe 2023 will be able to discover innovations in bidirectional charging. As part of The smarter E Europe, the international exhibition for charging infrastructure and e-mobility will be showcasing products, innovations and business models relating to charging infrastructure and electromobility at Messe München from June 14–16. Over 300 suppliers of charging infrastructure solutions are set to attend The smarter E Europe. The Mobility House, KEBA Group, Alfen and EnerCharge are just some of the exhibitors who will be presenting their solutions for bidirectional charging in Hall B6.

The Power2Drive Europe Conference 2023 will start on the day before the exhibition at the International Congress Center München (ICM). Bidirectional charging will be in the spotlight alongside market trends, analysis and research findings, and innovative projects for electromobility and charging infrastructure. For example, the session called Bidirectional Charging: Energy Supply Challenges organized by consulting and engineering firm umlaut will be discussing the latest developments in bidirectional charging, presenting results from pilot projects and looking at potential barriers to scaling bidirectional charging.

The most recent episode on Vehicle2Grid – How Close Are We to V2G Becoming a Daily Reality? with Dr. Stefan Perras & Thomas Gereke from Siemens – offers an in-depth look at the role of V2G in the decentralized grid of the future.

 

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Contacts

Press:

Peggy Zilay

Spokesperson

The smarter E Europe

+49 7231 58598-240

zilay@solarpromotion.com

Juliane Heermeier

Account Manager

+49 151 41482446

juliane.heermeier@fischerappelt.de

 

AVEVA Further Strengthens Executive Leadership Team with Four New Senior Roles

 LONDON - Thursday, 25. May 2023 AETOSWire 

Sue Quense, currently AVEVA’s Senior Vice President of Americas, takes on the newly created role of Chief Commercial Officer

Marco Mueller, long-time technology industry leader, joins AVEVA as Chief Marketing Officer

Rob McGreevy, Chief Product Officer, expands his responsibilities to include overseeing research & development (R&D) and Project Delivery Services.

And Iju Raj, who will head up R&D, to drive industrial software innovation

 

(BUSINESS WIRE) -- AVEVA, a global leader in industrial software, has further strengthened its leadership team announcing four new senior executive roles as the company drives forward its new business model.

The news follows the announcement in March of the company’s new Chief Executive Officer Caspar Herzberg, who took over the top job at AVEVA from Peter Herweck, now its chairperson. Herweck officially started as CEO of parent company Schneider Electric on May 4.

Sue Quense, currently AVEVA’s Senior Vice President of Americas, takes on the newly created role of Chief Commercial Officer. Quense, based in Philadelphia, USA, has spent more than three decades in software sales leadership roles. She was a driving force at OSIsoft, which merged with AVEVA in 2021 to meet the expanding industrial intelligence of global enterprises and accelerate the evolution of the connected industrial economy.

Marco Mueller, a long-time technology industry leader, joins AVEVA as Chief Marketing Officer and will be based in London, UK. He was formerly Senior Vice President Global Demand Marketing at ServiceNow, a leading cloud computing platform company headquartered in California’s Silicon Valley, for two and half years. Before that, Marco spent more than a decade in marketing executive roles with SAP, a market leader in enterprise application software where he led marketing teams across the globe. He began his career as a management consultant at Accenture in the high tech and consumer products industries.

With AVEVA’s goal to support end-to-end product innovation, the research & development (R&D) function and project delivery services will come together with the Business Units and Portfolio Management teams under the leadership of Rob McGreevy, Chief Product Officer.

Iju Raj, who has spent the last five years heading up AVEVA’s cloud platform, takes on the role of Executive Vice President for R&D and will report to McGreevy. Based in India, Raj will be responsible for the day-to-day leadership and operations of R&D, driving efficient development processes, programs, and software innovation.

Caspar Herzberg, CEO of AVEVA, said: “This is a pivotal moment in AVEVA’s 55-year heritage as a leading innovator of software and industrial sustainability. We are undergoing a portfolio-wide transition to a subscription-based business model, and I’m delighted to be adding such expertise and experience to the top table to further strengthen our growth plans.

“To accelerate access to modern solutions and meet dynamic business needs, customers can trade-in their existing perpetual licenses for subscriptions spanning any mix of cloud, hybrid, and on-premises solutions across the design-operate-optimize industrial lifecycle. Sue, Marco, Rob and Iju will be instrumental in further enhancing our leadership team and driving growth.”

- ENDS –

Notes to Editor

About AVEVA

AVEVA is a global leader in industrial software, sparking ingenuity to drive responsible use of the world’s resources. The company’s secure industrial cloud platform and applications enable businesses to harness the power of their information and improve collaboration with customers, suppliers, and partners.

Over 20,000 enterprises in over 100 countries rely on AVEVA to help them deliver life’s essentials: safe and reliable energy, food, medicines, infrastructure and more. By connecting people with trusted information and AI-enriched insights, AVEVA enables teams to engineer efficiently and optimize operations, driving growth and sustainability.

Named as one of the world’s most innovative companies, AVEVA supports customers with open solutions and the expertise of more than 6,400 employees, 5,000 partners and 5,700 certified developers. The company, which has operations around the globe, is headquartered in Cambridge, UK. Learn more at www.aveva.com.

Copyright © 2023 AVEVA Solutions Limited. All rights reserved. AVEVA Solutions Limited is owned by AVEVA Group. AVEVA, the AVEVA logos and AVEVA product names are trademarks or registered trademarks of AVEVA Group or its subsidiaries in the United Kingdom and other countries. Other brands and product- names are the trademarks of their respective companies.

 

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Contacts

Catherine Singh

catherine.singh@aveva.com

 

Boomi Appoints Josh Rutberg as Chief Customer Officer

 (BUSINESS WIRE)--Boomi™, the intelligent connectivity and automation leader, today announced the appointment of Josh Rutberg as Chief Customer Officer, responsible for driving measurable outcomes and success for the company’s nearly 20,000 global customers.

“The need for integration and automation solutions is exponential in today’s ever-changing business environment, and our customers rely on us for their success,” said Steve Lucas. “Josh’s experience and passion in leading customer success organizations across both high growth and scaling tech companies is exactly what we need to ensure our customers choose Boomi time and again.”

"Boomi’s mission to make the world a better place by connecting everyone to everything, anywhere shines through as a clear differentiator in what is an incredibly complex and competitive industry,” said Rutberg. "My passion for creating meaningful relationships with customers and ensuring their success matches Boomi’s unparalleled commitment to its customers, and I look forward to deepening our customer relationships as Boomi continues on its impressive growth journey.”

Rutberg brings over 20 years of experience with proven results and specialization in account management, retention, growth, executive relationships, loyalty, and more. He most recently led Customer Success at MuleSoft, where the team was integral to the “land and expand” motion for all customers. Prior to that, he was a partner with Bain & Company, and spent 15 years building a solid foundation in advising clients on strategy, go-to-market transformation, and mergers and acquisitions.

Rutberg earned a Master of Business Administration from The Wharton School and a B.S. in Economics from University of Pennsylvania.

Rutberg’s appointment follows the addition of several new executive leaders to its existing leadership bench, including:

Arlen Shenkman as Chief Financial Officer

Greg Wolfe as Chief Commercial Officer

Dan McAllister as Senior Vice President of Global Alliances and Channels

Troy Anderson as Global Commercial Market Vice President

Rahim Bhatia as Chief Strategy Officer

Adrian Trickett as Vice President of Sales and General Manager of EMEA

Jim Fisher as Vice President of Channels and Partners, APJ

Alison Biggan as Chief Marketing Officer

Jessica Soisson as Chief Accounting Officer

“With our recent move into AI and our continued focus on innovating for the future, we are assembling the best leadership team I have ever experienced in my career, and I know that together, Boomi will be ready for its next exciting stage as a company,” added Lucas.

As the pioneer of cloud-native integration platform as a service (iPaaS), Boomi celebrates the largest customer base among integration platform vendors; a growing community of more than 100,000 members; and one of the largest arrays of global systems integrators (GSIs) in the iPaaS space. The company boasts a worldwide network of partners, including Accenture, Deloitte, SAP, and Snowflake; and works with the largest hyperscaler cloud service providers, including Amazon Web Services, Google, and Microsoft, among others.

Included on the Deloitte Technology Fast 500™ and Inc. 5000 lists as one of America’s fastest growing and most innovative technology companies, Boomi was recently named to Nucleus Research's list of “Hot Companies to Watch in 2023.” The company has also won numerous awards as an employer of choice, including its listing as one of Inc. Magazine’s Best Workplaces. Boomi has also won three International Stevie® Awards, for Company of the Year (two years in a row) and Product Innovation; the Gold Globee® Award in the Platform as a Service (PaaS) category; the Merit Award for Technology in the Cloud Services category; the Stratus Award as a Global Leader in Cloud Computing 2022; and received the prestigious 5-star rating in the CRN Partner Program Guide for two consecutive years.

The company has also recently expanded its presence in the high-growth markets of Vancouver, Canada, Bengaluru, India and the Asia Pacific region to meet growing global demand for its category-leading integration and automation solution.

Additional Resources

Apply for one of Boomi’s open roles

Learn more about the Boomi platform

Explore the Boomiverse Community

Follow Boomi on Twitter, LinkedIn, Facebook, and YouTube

About Boomi:

Boomi aims to make the world a better place by connecting everyone to everything, anywhere. The pioneer of cloud-based integration platform as a service (iPaaS), and now a category-leading, global software as a service (SaaS) company, Boomi touts the largest customer base among integration platform vendors and a worldwide network of approximately 800 partners – including Accenture, Capgemini, Deloitte, SAP, and Snowflake. Global organizations turn to Boomi’s award-winning platform to discover, manage, and orchestrate data, while connecting applications, processes, and people for better, faster outcomes. For more information, visit http://www.boomi.com.

© 2023 Boomi, LP. Boomi, the ‘B’ logo, and Boomiverse are trademarks of Boomi, LP or its subsidiaries or affiliates. All rights reserved. Other names or marks may be the trademarks of their respective owners.

 

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Contacts

Media:

Kristen Walker

Global Corporate Communications

kristenwalker@boomi.com

+1-415-613-8320

Business Aviation Flying High as Corporate Buyer Roars Back to Life, Jetcraft Forecast Finds

 LONDON 

The aviation specialist predicts a total of 11,429 transactions representing $74.4B in revenue over the next five years

(BUSINESS WIRE) -- The return of the corporate buyer has played a key role in driving unprecedented business aviation demand, according to new research from Jetcraft, the global leader in business aircraft sales and acquisitions.

Ever Forward, Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast reveals that continued growth is predicted for the years ahead, despite an inevitable market correction in 2023, setting new annual benchmarks for volume and value. In 2022, transaction values hit a record $16.3B, driven in part by the resurgence of corporate aviation, following a dip during the pandemic.

Jetcraft’s data shows the share of Jetcraft buyers coming from the corporate sector reached 60% in 2022, demonstrating the value corporations place on jet ownership.

“The return of the corporate buyer proves what we’ve always known: the continued importance of face-to-face interactions in the relationship world of business,” says Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft. “Video conferencing technology served a purpose for all of us when the borders were closed, but businesses recognise the value of in-person meetings.”

New entrants to the market, OEM backlogs and the corporate buyer’s return resulted in total annual pre-owned transaction values beyond industry expectations – increasing by 38% in 2022.

“Existing corporate and individual clients looking to upgrade their aircraft will drive sales volume over the next five years,” continues Fazal-Karim. “First-time business jet owners continue to play a role in market growth, with many, having tested the waters through charter or fractional ownership, purchasing their own aircraft outright. From 2024, values will stabilise at above $15.4B annually, due to an increase in the total transaction volume, retirement of a significant portion of Light Jets from the under 25-year-old pre-owned fleet, and a higher share of larger jets entering the market.”

Jetcraft’s 2023 report also breaks down the nuances found in pre-owned transaction values, explaining why average prices increased more than expected during 2022.

Chad Anderson, CEO, Jetcraft adds “Today’s pre-owned jet marketplace is extremely complex, with aircraft segment prices differing widely and overlapping significantly. This price and segment variation stems from greater demand of popular makes and models, as well as turnkey aircraft, which have always attracted a premium but are especially lucrative at present due to the length of the OEM and maintenance facility backlogs. We expect prices to level out as supply increases and depreciation normalizes in 2024.”

Download Ever Forward, Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast here.

ENDS

About Jetcraft

More than brokers, Jetcraft® is a network of global aircraft advisors, offering unmatched international reach and unrivalled local knowledge. The company’s market-leading intelligence, strategic financing solutions, and extensive inventory support even the most intricate of transactions. For over 60 years, Jetcraft has led the way, setting standards that continue to shape the industry. Today, a team of 80+ dedicated aviation specialists across 25+ offices deliver worldwide aircraft sales, acquisitions, and trading at the Speed of Life.

Learn more at: www.jetcraft.com

 

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Contacts

8020 Communications.

Email: jetcraft@8020comms.com

Telephone: +44 (0)1483 447380