Friday, November 8, 2013

New data presented at AASD further demonstrate benefits of Trajenta® (linagliptin) with efficacy and safety in specific patient populations

INGELHEIM, Germany & INDIANAPOLIS, US - Thursday, November 7th 2013 [ME NewsWire]

•    Linagliptin showed a statistically significant reduction in blood glucose in adults with Type 2 Diabetes and liver disease

 •    Reduction in blood glucose levels in Asian people aged 65 years or older with Type 2 Diabetes

(BUSINESS WIRE) For Non-US and Non-UK Media

Boehringer Ingelheim and Eli Lilly and Company announce new data that reinforce the efficacy and tolerability of linagliptin in people with Type 2 Diabetes (T2D) and liver disease, as well as Asian people with T2D aged 65 years or older. The data add to a growing body of clinical evidence supporting the use of linagliptin, a dipeptidyl peptidase-4 (DPP-4) inhibitor from Boehringer Ingelheim (BI) and Eli Lilly and Company, in a broad range of adults with T2D. The data will be announced on Saturday 9th November during the 2013 International Conference on Diabetes and Metabolism & 5th Asian Association for the Study of Diabetes (AASD) Annual Scientific meeting.

Adults with T2D aged 65 years or older and those with pre-existing liver and biliary disease are characterised by limited treatment options. With the rate of T2D rapidly growing in Asia,1 and the prevalence of T2D and hepatobiliary diseases being high, especially in Asian countries,2 effective and safe treatment options are increasingly becoming a priority. Moreover, given the major elimination of linagliptin via the entero-hepatic system, it is particularly important to further characterise the efficacy and safety of linagliptin in T2D patients with liver and biliary complications.

Efficacy and tolerability in people with T2D and previous/current liver and biliary disease

In a pooled analysis of 17 double-blind placebo controlled randomised clinical trials investigating the efficacy and tolerability of linagliptin in people with T2D and self-reported previous/current liver and biliary disease, results showed:

    Linagliptin demonstrated a statistically significant placebo-adjusted reduction in HbA1c of 0.52 and 0.62 percent in patients with- and without hepatobiliary disorders, respectively, from baseline to 24 weeks.3
    Overall incidence of adverse events (AEs) was similar for hepatobiliary (65.1 percent – linagliptin; 68.0 percent – placebo) and non-hepatobiliary patients (56.7 percent – linagliptin; and 62.0 percent - placebo).
    Rates of serious AEs were 7.9 percent vs. 9.9 percent (linagliptin and placebo, respectively) in the hepatobiliary group, and 4.7 percent vs. 6.6 percent, (linagliptin and placebo, respectively) in the non-hepatobiliary group.
    Fewer patients in the linagliptin group experienced drug related AEs than placebo (12 percent vs. 15.3 percent hepatobiliary; 11.6 percent vs. 13.6 percent non-hepatobiliary); and hypoglycaemia was less frequent with linagliptin versus placebo (12.2 percent vs. 19.2 percent hepatobiliary; 11.9 vs. 14.8 non-hepatobiliary).

Efficacy and safety in Asian elderly people with T2D

In a second pooled analysis investigating the efficacy and safety of linagliptin (as monotherapy or in combination with common anti-hyperglycaemic drugs) in Asian people aged 65 years or older with uncontrolled T2D, results showed:

    Linagliptin demonstrated a statistically significant reduction in HbA1c of 0.90 percent, compared to a 0.08 percent reduction with placebo, resulting in a treatment difference of 0.82 percent after 24 weeks.4
    Overall incidence of adverse events (AEs) or serious adverse events (SAEs) with linagliptin was similar to placebo (AE 53.6 percent vs 61.9 percent, and SAE 4.5 percent vs. 6.9 percent respectively).
    Drug-related AEs were lower in the linagliptin arm than with placebo (12.6 percent vs. 17.5 percent, respectively); as was the occurrence of investigator defined hypoglycaemia (9.5 percent vs. 18.1 percent, respectively).
    The incidence of symptomatic hypoglycemia events was similar to placebo (1.1 percent in linagliptin vs 1.5 percent in placebo) when patients were not on insulin or sulphonylurea background therapy.

Commenting on the studies, Professor Klaus Dugi, Corporate Senior Vice President Medicine, Boehringer Ingelheim, said: “The effects of treatment on health and safety in specific groups of people with Type 2 Diabetes, such as the elderly and those with liver disease, must be considered when selecting the most appropriate therapy. However, those patients present complications that limit their choice of treatment. The findings that will be presented at AASD support linagliptin’s safety and efficacy in these populations with Type 2 Diabetes, and confirm that linagliptin is an important treatment option.”

The U.S. Food and Drug Administration (FDA), European Medicines Agency (EMA), Japan Pharmaceuticals and Medical Devices Agency (PMDA) and several other regulatory authorities worldwide have approved linagliptin for the treatment of adults with T2D as monotherapy or in combination with metformin, metformin + sulphonylurea, and as add-on therapy to insulin. With linagliptin, no dose adjustment is required regardless of renal function or hepatic impairment.5,6

About the studies

Efficacy and tolerability of linagliptin, a dipeptidyl peptidase (DPP)-4 inhibitor, in people with Type 2 Diabetes (T2DM) and liver disease: a pooled analysis of 17 randomised placebo-controlled double-blind studies3 (AASD abstract no. 192)

Pooled data were analysed from 7009 subjects (621 with a history of hepatobiliary disorders [among whom the most frequent conditions were hepatic steatosis, cholelithiasis, and cholecystitis]) receiving linagliptin (n=418 with hepatobiliary disorder; n=4207 with no hepatobiliary disorder) or placebo (n=203 with hepatobiliary disorder; n=2181 with no hepatobiliary disorder). Almost 40 percent of subjects in each group (hepatobiliary and non-hepatobiliary) were Asian. All studies had a primary outcome measure of change from baseline HbA1c.

Efficacy and safety of linagliptin in Asian patients aged ≥65 years: results of a pooled analysis4 (AASD abstract no. 170)

Data from placebo-controlled trials evaluating linagliptin (monotherapy or in combination with common anti-diabetes drugs) were pooled. Efficacy data were pooled from 11 trials, comprising 347 Asian adults with T2D (linagliptin n=239; placebo n=108) that included assessments of more than 24 weeks. Safety data were pooled from 15 trials of varying durations, comprising 518 Asian adults with T2D (linagliptin n=358; placebo n=160).

Please click on the link below for ‘Notes to Editors’ and ‘References’:

http://www.boehringer-ingelheim.com/news/news_releases/press_releases/2013/07_november_2013_diabetes.html

Contacts

Dr. Petra Kienle

Launch and Established Products CVM

Boehringer Ingelheim GmbH

Email: press@boehringer-ingelheim.com

Phone: +49 (6132) 77 143877



Tammy Hull

Communications Manager

Lilly Diabetes

Email: hullta@lilly.com

Phone: +1 (317) 651 9116







Permalink: http://www.me-newswire.net/news/9103/en

Thursday, November 7, 2013

New survey in four major Asian countries reveals complexity of managing Type 2 Diabetes is currently underestimated1

INGELHEIM, Germany & INDIANAPOLIS, US - Wednesday, November 6th 2013 [ME NewsWire]

    Physicians believe more information on managing the condition is needed1
    More than three quarters of doctors surveyed say complexity of Type 2 Diabetes is underestimated1
    Managing cardiovascular risk is a key influence when prescribing oral anti-hyperglycaemic treatments1

(BUSINESS WIRE) For Non-US and Non-UK Media

Boehringer Ingelheim and Eli Lilly and Company today announced results from a poll conducted with almost 800 physicians treating people with Type 2 Diabetes (T2D), in Japan, China, India and South Korea.1

Results from the online poll revealed 79 percent of the physicians surveyed believed the complexity of managing T2D is currently underestimated.1

Despite these complexities, high quality, structured patient education can help to improve health outcomes and significantly improve quality of life in people with T2D.2 Ninety percent of physicians polled agreed both HCPs and patients could gain from additional medical information and patient support materials.1

People with T2D have an increased risk of heart disease and stroke compared to those without the condition.3 The survey also highlighted the importance of managing cardiovascular risk in T2D. This was well recognised by the physicians polled and 94 percent of respondents believed the management of cardiovascular risk influenced their decision when prescribing an oral anti-hyperglycaemic treatment.1

In treating T2D, a number of factors may play a role in patient adherence to treatment regimes, including the dosing schedule.4 Half of the physicians surveyed ranked ‘number of doses per day’ as the factor that influenced them the most when prescribing an oral anti-hyperglycaemic agent, in addition to the management of blood glucose.1

“More than 60 percent of the world’s diabetes population lives in Asia and physicians treating Type 2 Diabetes in this region acknowledge that this is a complex condition,” said Professor Klaus Dugi, Corporate Senior Vice President Medicine, Boehringer Ingelheim. “Despite the numerous challenges Type 2 Diabetes can present in the face of rising prevalence, results from this survey show that healthcare professionals in Asia are evaluating the full spectrum of available treatments, dosing regimens, risk factors and co-morbidities to achieve the best possible health outcomes for their patients.”

The results of this poll echo those from a similar survey conducted by Boehringer Ingelheim and Eli Lilly and Company in September 2013 with more than 1,000 primary care healthcare professionals across eight European countries.5 The impact of cardiovascular risk in treating T2D was also highlighted in these results. Almost three quarters of physicians (74 percent) surveyed believed the management of cardiovascular risk is underestimated in people with T2D and 87 percent of respondents regard cardiovascular risk as a key consideration when making treatment decisions.5

Methodology

Over a two week period, an online tool consisting of five short multiple choice questions was used to gauge opinion from 798 physicians from Japan, South Korea, China and India. Results were then collated from the different markets to draw overall conclusions.

Please click on the link below for ‘Notes to Editors’ and ‘References’:

http://www.boehringer-ingelheim.com/news/news_releases/press_releases/2013/06_november_2013_diabetes.html

Contacts
Dr. Petra Kienle
Boehringer Ingelheim GmbH
Launch and Established Products CVM
Email: press@boehringer-ingelheim.com
Phone: +49 (6132) 77-143877



Tammy Hull
Lilly Diabetes
Communications Manager
Email: hullta@lilly.com
Phone: +1 317 651 9116





Permalink: http://www.me-newswire.net/news/9092/en

General Cable Reports Estimated Third Quarter Results; Estimated Third Quarter Adjusted Operating Results Reflect Continuing Stability in Europe and Rest of World; Acquisitions Continue to Exceed Management's Expectations

HIGHLAND HEIGHTS, Ky - Wednesday, November 6th 2013 [ME NewsWire]

(BUSINESS WIRE) General Cable Corporation (NYSE: BGC) announced today preliminary selected estimated results for the third quarter ended September 27, 2013. These results are considered preliminary due to the additional time needed to finalize the Company’s restated financial statements for the prior periods described below (see “Other Matters”). Due to the timing and ongoing preparation of the restated financial statements, the Company has provided only selected financial data tables in this press release.

Estimated adjusted operating income in Europe and ROW, specifically Asia Pacific and Latin America, was in line with management’s expectations. The performance of these businesses was more than offset by the impact of lower than expected demand principally in the Company’s North American aluminum-based businesses including aerial transmission, construction and rod and strip products. For the third quarter of 2013, excluding certain items, the Company generated estimated adjusted earnings per share of $0.45 and estimated adjusted operating income of $63 million. For the third quarter of 2013, estimated reported earnings per share were $0.31 and estimated reported operating income was $56 million. A reconciliation of estimated adjusted earnings per share to estimated reported earnings per share and estimated adjusted operating income to estimated reported operating income is included on page 4 of this press release.

Highlights

    Europe and Med generated stable estimated results for the second consecutive quarter driven by consistent execution on submarine turnkey projects
    Estimated results in ROW reflect stability in Brazil, China and the Philippines and better than expected results in Venezuela
    Collectively, acquisitions made in 2012 continue to perform ahead of the original investment case
    Expanded the Company’s Senior Secured Credit Facility to $1.0 billion by incorporating certain European assets; maturity extended to 2018

Third Quarter Results

Estimated net sales of $1,556 million and global unit volume of 320 million pounds were lower than expected principally due to demand in North America for aluminum based products including aerial transmission, construction and rod and strip as well as the impact of changes in “bill and hold” revenue recognition accounting for aerial transmission projects in Brazil. Estimated adjusted operating income for the third quarter of 2013 of $63 million reflects stability in Europe and ROW. Adjusted operating results in ROW were buoyed by stronger than expected results in Venezuela and stable results in China and the Philippines. Estimated adjusted operating results in Brazil were stable as the business continues to gain traction in its specialty cable product start-up business as well as the benefit of ongoing shipments of aerial transmission cables. In North America, estimated adjusted operating income was burdened by the impact of lower than expected aluminum unit volume.

Gregory B. Kenny, President and Chief Executive Officer of General Cable, said, “As previously communicated, our businesses continue to feel a bit sluggish. Overall, pricing pressure and uneven global demand patterns in key end markets persist. In North America, we expected more of a pull through on existing orders for aerial transmission projects in the third quarter, which have shifted into the fourth quarter and the early part of next year. Also, while we experienced stable demand for aluminum based construction products and rod and strip in the third quarter the anticipated incremental volume failed to materialize. Similarly, seasonal demand driven by electricity grid reinforcement and maintenance spending by electric utilities was also below expectations. On the other hand, we are encouraged by the relative stability experienced in parts of our business including Europe and ROW, specifically Asia Pacific. We are also encouraged by the continued strong financial performance of our recent acquisitions in the U.S., Canada and China, which continue to exceed the original investment case as the operating margins of these businesses together have surpassed the corporate average in each quarter this year.”

In North America, unit volume was down versus management’s expectations principally due to aluminum-based electric utility product shipments including aerial transmission cables as well as construction cables and rod and strip products. The Company’s copper-based product shipments including electrical infrastructure and specialty were in line with management’s estimates for the third quarter.

In ROW, putting aside the change in bill and hold revenue recognition accounting for aerial transmission product shipments in Brazil, unit volume in Latin America was consistent with expectations in the third quarter driven by aerial transmission product shipments and the Company’s start-up specialty cables business in Brazil. Demand in Asia Pacific remains stable driven by China and the Philippines, which continue to benefit from construction spending.

In Europe and Mediterranean, seasonally lower unit volume was generally in line with expectations across most major end markets throughout the region.

Estimated other income was $9.6 million in the third quarter of 2013, which primarily consists of an estimate of $5.4 million of mark to market gains on derivative instruments accounted for as economic hedges, which are used to manage currency and commodity risk principally on the Company’s project business globally, and an estimate of $4.2 million of foreign currency transaction gains. The foreign currency transaction gains are principally the result of authorization received in Venezuela to purchase copper at a 4.3 Bolivars to each US Dollar exchange rate. The Company received this authorization prior to the currency devaluation on February 13, 2013. The Company does not expect to record a gain for the purchase of copper at the pre-devaluation exchange rate in the fourth quarter of 2013 in Venezuela.

Liquidity

Net debt of an estimated $995.5 million at the end of the third quarter of 2013 decreased an estimated $90.6 million from the end of the second quarter of 2013. The decrease in net debt is principally due to reductions in working capital as a result of normal seasonal trends. The Company continues to maintain adequate liquidity to fund operations, internal growth, and continuing product and geographic expansion opportunities as well as its share repurchase program and quarterly dividend.

Taxes

The Company’s adjusted effective tax rate for the third quarter of 2013 was approximately 45%, which reflects a relative greater mix of earnings in higher tax jurisdictions and the impact of full year forecasted tax losses in certain countries and other certain quarter-discrete items. As a result, the Company expects its full year adjusted effective tax rate also to be in the range of 45%.

Preferred Stock Dividend

In accordance with the terms of the Company’s 5.75% Series A Convertible Redeemable Preferred Stock, the Board of Directors has declared a regular quarterly preferred stock dividend of approximately $0.72 per share. The dividend is payable on November 25, 2013 to preferred stockholders of record as of the close of business on October 31, 2013. The Company expects the quarterly dividend payment to be less than $0.1 million. This is the last quarterly dividend payable to preferred stockholders. By its terms, the preferred stock, unless converted earlier by the holder(s), will be mandatorily redeemed on November 24, 2013 with the aggregate redemption price of $3.8 million payable on November 25, 2013.

Fourth Quarter 2013 Outlook

The Company’s fourth quarter revenues are expected to be in the range of $1.55 to $1.6 billion on flat to slightly lower global unit volume sequentially. The Company expects operating income to be in the range of $50 to $60 million. Adjusted earnings per share are expected to be in the range of $0.25 to $0.35 per share before the impact of non-cash convertible debt interest expense and mark to market gains or losses on derivative instruments. The Company’s fourth quarter outlook assumes copper and aluminum prices of $3.28 and $0.92. The fourth quarter is expected to be fairly consistent with typical seasonal declines partially offset by project related activity. In North America, orders that were delayed in the third quarter for aerial transmission cables are expected to ship, in part, in the fourth quarter as well as in the early part of next year. In Europe, the Company’s land-based and submarine turnkey project businesses are expected to deliver a number of projects in the fourth quarter. In Brazil, deliveries of aerial transmission projects are expected to continue at a stable rate over the final months of the year.

“Second half unit volume is expected to be weaker than previously anticipated. Overall, utility, mining and construction driven spending has been generally below our expectations. While the macro environment for infrastructure products has been uneven, we are making progress in a number of areas. We have removed significant costs over the past several years in Europe and are improving the cross utilization of our seven plants. In North America, we expect our Prestolite Wire and Alcan Cable acquisitions to perform above our business case for 2013. We are also pleased with our focus on new products and innovation. In North America, over 15% of products sold today have been refreshed or launched over the last three years. We continue to look for ways to reduce manufacturing and logistics costs. In ROW, we are accelerating the use of our Lean toolset with a focus on waste, entitlement capacity, and customer service. Higher value-add specialized products have been identified and are arriving through cross selling initiatives. We are focused on improving the returns on our investments in Brazil, Germany, India, Mexico, Peru and South Africa. Finally, over the past year we have made significant progress building our Company culture and reinforcing our values. Our Global Councils and newly created global roles in Manufacturing, Technology, Supply Chain, Commercial Sales and Communications products are facilitating the sharing of best practices while improving daily execution and working capital management. Despite the economic uncertainty, which continues to impact near term growth, our view of the intermediate and long-term demand growth drivers in our key end markets in North America and ROW is unchanged. As a late cyclical we are well positioned to benefit from the growth trends, energy and infrastructure related investments and construction activity in these markets,” Kenny concluded.

To view the full release including the tables, please click here

     



Contacts

General Cable Corporation

Len Texter, Vice President, Investor Relations, 859-572-8684

Wednesday, November 6, 2013

Vivotek and ImmerVision Sign New Agreement on Using Panomorph Optics

MONTREAL - Wednesday, November 6th 2013 [ME NewsWire]

(BUSINESS WIRE)-- ImmerVision, the inventor of the 360-degree panomorph lens and worldwide expert in immersive optical technology, announced today that it has signed an agreement with Vivotek, a Taiwanese camera manufacturer, to officially settle a recent legal dispute.

This signed agreement confirms that Vivotek will adopt the Immervision Enables 360-degree video standard in the development of future 360-degree video products. These new panomorph cameras from Vivotek will be duly certified ImmerVision Enables so customers will benefit from the standard’s leading performance which provides undistorted, blind-spot-free views, heighten situational awareness and the ability to simply pair cameras with a growing list of compatible and certified video management systems.

“We understand that ImmerVision Enables panomorph lenses offer superior 360-degree technology compared to other options like fisheye, and so we are pleased to leverage ImmerVision’s leading standard to develop new cutting-edge 360-degree devices,” said Steve Ma, Executive Vice President at Vivotek.

“We are very happy to have signed an agreement with Vivotek. The company shows tremendous respect for an organization’s intellectual property,” said Alessandro Gasparini, CCO at ImmerVision. “We look forward to a promising collaboration on more panomorph opportunities.”

About ImmerVision Leading innovation in 360-degree panoramic imaging, ImmerVision licenses its patented panomorph optical and software technology to global lens producers, product manufacturers and software developers. Panomorph lenses are the only ones that can be adapted to any camera, any sensor, and any consumer, commercial and government market. ImmerVision Enables is the recognized standard for 360-degree solutions and applications. www.immervision.com

About Vivotek VIVOTEK INC., established in Taiwan in 2000, has quickly grown into a prestigious leading manufacturer in the network video surveillance industry. In 2006, VIVOTEK (TAIEX: 3454) was listed on the Taiwan Stock Exchange. VIVOTEK spun off its SoC division into a wholly-owned subsidiary in 2007, namely VATICS, which focuses on multimedia SoC development and sales. To keep pace with rapid sales growth, it established a US subsidiary in California in 2008 to offer sales, support and service.

Contacts
ImmerVision
Martine Guay, +1 514 985-4007 ext. 3025
martine.guay@immervision.com









Permalink: http://www.me-newswire.net/news/9084/en

Toshiba Launches Small-Sized ESD Protection Diode Supporting High Speed Transmission Lines

TOKYO - Wednesday, November 6th 2013 [ME NewsWire]

(BUSINESS WIRE)-- Toshiba Corporation (TOKYO:6502) today announced that it has launched “DF4D7M2G”, a small-sized electrostatic discharge (ESD) protection diode that supports two lines of high speed data transmission. Mass production is scheduled to start in December.

ESD protection diodes are designed to absorb electrostatic discharge (ESD) energy from I/O ports.

The diode reduces terminal capacitance to 0.2pF (Typ.), enabling use for ESD protection in high speed interfaces, such as USB3.0 in mobile devices and low noise amplifiers in RF antennas. Adoption of small WCSP4 package reduces package size by 50% compared to equivalent products1, contributing to high density mounting.

Key Features of New Product

    Reduction of terminal capacitance enables use in high-speed transmission lines: Ct=0.2pF (typ.)
    Adoption of small packages allows high density mounting: WCSP4 (0.79×0.79mm, 0.4mm pitch)
    Compliant with electrostatic discharge immunity tests IEC61000-4-2: ±8kV (Contact), ±15kV (Air)

Applications

ESD protection for high-speed interfaces and RF antennas

Note: 1: Comparison with “DF6D7M1N“.

For more information about the product, please visit: http://www.semicon.toshiba.co.jp/info/lookup.jsp?pid=DF4D7M2G&lang=en

Customer Inquiries: Small Signal Device Sales and Marketing Department Tel: +81-3-3457-3411

Information in this document, including product prices and specifications, content of services and contact information, is current on the date of the announcement but is subject to change without prior notice.

About Toshiba

Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and MFPs; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances.

Toshiba was founded in 1875, and today operates a global network of more than 590 consolidated companies, with 206,000 employees worldwide and annual sales surpassing 5.8 trillion yen (US$61 billion). Visit Toshiba's web site at www.toshiba.co.jp/index.htm

Contacts

Media Inquiries:

Toshiba Corporation

Semiconductor & Storage Products Company

Takashi Mochizuki, +81-3-3457-4963

semicon-NR-mailbox@ml.toshiba.co.jp









Permalink: http://www.me-newswire.net/news/9088/en

TransRe Receives License for Singapore Branch Office

Latest Addition To Regional Network, To Better Serve Local Insurers and Brokers

NEW YORK - Wednesday, November 6th 2013 [ME NewsWire]

(BUSINESS WIRE)-- TransRe today announced that it has received a license from the Monetary Authority of Singapore for its fifth office in the region, joining Hong Kong, Shanghai, Sydney and Tokyo.

Paul Bonny, TransRe’s President of Europe & Asia Pacific said, “Over the past 35 years we have built our global network of offices to better serve local insurers and brokers by combining local knowledge and relationships with global experience and insights. Asia’s insurance growth and market penetration continues at an incredible pace and Singapore is ideally positioned as a reinsurance center. I am confident our new office will help us build on our existing relationships in the region.”

Andy Taylor, TransRe’s Chief Underwriting Officer for Asia Pacific, said, “We are delighted to receive a branch license. Our industry is an important part of Singapore’s economy and I am pleased we are joining it. I look forward to supporting its growth by building our branch, our portfolio and our local team with Rob Saville.”

For all business enquiries, contact:
                 

Robert Saville, SVP and Branch Manager
         
                 

8 Marina View
         

T (65) 6407 1085
                 

Asia Square Tower 1, Level 07-04
         

rsaville@transre.com
                 

Singapore 018960
         
                             

About TransRe

TransRe is the brand name for Transatlantic Holdings, Inc. and its subsidiaries (including Transatlantic Reinsurance Company). TransRe, wholly owned by Alleghany Corporation (NYSE-Y), is a reinsurance organization headquartered in New York with operations worldwide. Since 1978, TransRe has been offering its clients the capacity, expertise and creativity necessary to structure programs across the full spectrum of property and casualty risks. Visit www.transre.com for additional information.

Contacts

TransRe

Thomas V. Cholnoky, 212-365-2292









Permalink: http://www.me-newswire.net/news/9087/en

WOUNDCHEK Laboratories – Leaders and innovators in wound diagnostics split from Systagenix

ME Newswire / Business Wire

GARGRAVE, England - Tuesday, November 5th 2013

WOUNDCHEK™ Laboratories announced today that it has successfully completed the spin out of the diagnostics business from Systagenix and has signed a non-exclusive global distribution agreement with Kinetic Concepts, Inc. (KCI), the acquirers of the Systagenix advanced wound care business.

The newly formed WOUNDCHEK™ Laboratories business, owned by One Equity Partners LLC (OEP), is based principally in the United Kingdom and will continue to focus 100% on the development of novel wound diagnostics products to help improve therapeutic outcomes in wound care.

Jack Wilkens, CEO of WOUNDCHEK™ Laboratories, added: “Our vision is to provide clinicians with better, accurate, timely, actionable, and easy to access information, leading to improved therapeutic outcomes through point of care wound diagnostics. With the cost of ineffective wound care treatment estimated at $20-25 billion1 annually, wound diagnostics is expected to help deliver a significant reduction of the cost to healthcare systems associated with poor targeting of treatment, delayed healing, and avoidable complications.”

Current development efforts are centred on three critical questions, identified by clinical experts as the primary pieces of diagnostic information needed to direct treatment pathways in the majority of chronic wounds: ‘Does the wound have elevated protease activity?’, ‘Is there an active infection?’, and ‘Is there adequate tissue oxygenation?’.

WOUNDCHEK™ Protease Status, the world’s first point of care test to detect elevated protease activity (EPA) in chronic wounds, was launched in 2012 in Europe, the Middle East, and South Africa. The distribution agreement with KCI can allow customers continued access to this ground-breaking new wound diagnostic test that is already helping clinicians target appropriate therapies on the right wounds at the right time.

- ENDS -

1. Data based on savings calculated with the WOUNDCHEK economic model, UK version, with AQP VLU data inputs. – Nherera L. et al. Quantifying the economic value of diagnostics in wound care in the UK. Poster, EWMA 2013.

Disclaimer

WOUNDCHEK™ Protease Status is not currently cleared by FDA for sale within the US market.

Contacts

For more information:

VSPR

Vicky Stoakes, 07747 534 519

Vicky@vs-pr.com









Permalink: http://me-newswire.net/news/8988/en