American Express Declares Regular Quarterly Dividend

American Express Declares Regular Quarterly Dividend

NEW YORK–(BUSINESS WIRE)–
The board of directors of American Express Company (NYSE:AXP) today declared a regular quarterly dividend of $0.43 per common share, payable on February 10, 2020 to shareholders of record on January 3, 2020.

About American Express

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services and corporate responsibility information: charge and credit cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, Accertify, InAuth, corporate card, business travel, and corporate responsibility.

Marina H. Norville

212-640-2832

marina.h.norville@aexp.com

Andrew R. Johnson

212-640-7034

andrew.r.johnson@aexp.com

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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Trades Completed in the First US Regulated Bitcoin Options on ICE Futures U.S.

Trades Completed in the First US Regulated Bitcoin Options on ICE Futures U.S.

ATLANTA & NEW YORK–(BUSINESS WIRE)–
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the first block trade of BakktTM Bitcoin (USD) Monthly Options (BTM) submitted to ICE Futures U.S.

“Based on our benchmark physically delivered bitcoin futures, these options contracts offer our customers a capital-efficient new tool for trading and for managing volatility, price risk and income generation,” said Trabue Bland, President of ICE Futures U.S.

Bakkt Bitcoin Options settle into the underlying Bakkt Bitcoin (USD) Monthly Futures contract two days prior to expiry. Price discovery for the contract occurs completely within a federally regulated market and has no exposure to unregulated bitcoin spot markets. The first trade was executed between Galaxy Digital Trading and XBTO.

“We believe the development of the institutional market infrastructure leads to deeper liquidity in digital assets,” said Josh Lim, Head of Trading Strategy at Galaxy Digital Trading. “The advent of centrally-cleared bitcoin options on a regulated U.S. exchange is a major milestone for this market.”

Paul Eisma, Head of Trading, XBTO said, “By launching bitcoin options at a major board of trade, ICE and Bakkt are providing invaluable instruments that professional investors and commercial hedgers need in order to properly manage risk in a rapidly maturing asset class. XBTO supports the evolving growth in non-linear institutional trading products coming to digital asset markets.”

A block trade is a privately negotiated trade with a certain minimum size threshold, which is submitted to the Exchange and cleared through ICE Clear US.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the SEC on February 7, 2019.

ICE-CORP

ICE Media Contact:

Damon Leavell

Damon.Leavell@theice.com

212-323-8587

ICE Investor Contact:

Warren Gardiner

Warren.Gardiner@theice.com

770-835-0114

KEYWORDS: United States North America New York Georgia

INDUSTRY KEYWORDS: Professional Services Data Management Technology Finance Software Banking

MEDIA:

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Energy Services of America Announces Special Dividend

PR Newswire

HUNTINGTON, W.Va., Dec. 12, 2019 /PRNewswire/ — Energy Services of America (the “Company” or “Energy Services”) (OTC QB: ESOA), parent company of C.J. Hughes Construction Company and Nitro Construction Services, announced  that on December 11, 2019, the Company’s board of directors declared a special dividend of $0.05 per common share payable on December 31, 2019 to shareholders of record as of December 23, 2019.

Douglas Reynolds, President, commented on the announcement.  “The Board of Directors of Energy Services would like to extend its appreciation to our shareholders as we continue to find ways to improve the Company and your return on investment.  We believe the announcement of this dividend shows our commitment to provide value to our shareholders based on our strong financial position.” 

Certain statements contained in the release, including without limitation statements including the words “believes,” “anticipates,” “intends,” “expects” or words of similar import, constitute “forward-looking statements” within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company expressed or implied by such forward-looking statements. Such factors include, among others, general economic and business conditions, changes in business strategy or development plans and other factors referenced in this release. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.

Source: Energy Services of America

Cision View original content:http://www.prnewswire.com/news-releases/energy-services-of-america-announces-special-dividend-300974162.html

SOURCE Energy Services of America Corporation

IIROC Trading Resumption – XTM

Canada NewsWire

VANCOUVER, Dec. 12, 2019 /CNW/ – Trading resumes in:

Company: Transition Metals Corp.

TSX-Venture Symbol: XTM (all issues)

Resumption (ET): 11:45:00

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

Genesis Health Clubs Tennis Department Wins Adult Player of the Year and President’s Awards at USTA Missouri Valley Annual Conference

Adult Player of the Year was granted to Genesis National Director of Cardio Tennis Thiago Santos, and the President’s Award was granted to Genesis National Director of Tennis Tournaments Simon Norman on Saturday, December 7, by the United States Tennis Association (USTA) Missouri Valley (5 States- Oklahoma, Missouri, Iowa, Kansas, Nebraska).

Olathe, Kan., Dec. 12, 2019 (GLOBE NEWSWIRE) — Every year at the USTA Missouri Valley Annual Conference, volunteers, programs, members and organizers are honored for their extraordinary work both on and off the tennis courts.

On Saturday, Genesis Health Clubs National Director of Cardio Tennis Thiago Santos was recognized as the USTA Missouri Valley Adult Player of the Year, an award based on performance, accomplishments, and sportsmanship.

Genesis National Director of Tennis Mike Woody showered praise on Santos: “This isn’t the first major award Thiago has won, and it won’t be the last. Over and over again, he shows himself to be a world-class tennis player, coach, and sportsman on and off the court.”

The prestigious President’s Award, which honors the individual who has given exceptional service to tennis, was given to the National Director of Tennis Tournaments Simon Norman, who has been with Genesis for over 20 years.

Woody struck an appreciative tone when asked about Norman’s President’s Award. “What can I say about Simon Norman that hasn’t been said before? He’s spent over 20 years with Genesis and helped build tennis in the Wichita area. He’s done so much for Genesis and for Tennis in the Missouri Valley. This award couldn’t go to a more deserving professional.”

To see a complete list of the USTA 2019 award winners, please see here. To read more on Genesis Tennis, you can visit genesishealthclubs.com/tennis for more details.

About Genesis Health Clubs Tennis

Genesis Health Clubs now has 50 locations across six states, including 12 tennis clubs in Colorado, Kansas, Nebraska, Missouri and recently Iowa, making it the largest tennis organization in the Midwest and one of the top 5 largest in the United States.

Genesis believes in innovating, educating and helping people look and feel better than they ever have before. By providing the most well-rounded gym experience in its 50 clubs, Genesis delivers premium amenities, a variety of classes and world-class training to its members. Genesis Health Clubs will continue to grow, change, innovate, and add new services and locations to give their members what they need to achieve their goals.

Jake McCabe, Vice President of Marketing
Genesis Health Clubs
(316) 681-4267
JMcCabe@genesishealthclubs.com

RUAN COMPANIES APPOINTS TRANSWESTERN AS PROPERTY MANAGER FOR 750,000 SF HEADQUARTERS

Assignment Marks the Commercial Real Estate Services Firm’s First Des Moines Project

DES MOINES, IOWA, Dec. 12, 2019 (GLOBE NEWSWIRE) — Transwestern Commercial Services (TCS) today announces it has been awarded the exclusive property management assignment for Ruan Companies’ headquarters in Des Moines, Iowa. The assignment includes 750,000 square feet at Ruan Center and Two Ruan Center, located at 666 Grand Ave. and 601 Locust St., respectively. This is the firm’s first engagement in Des Moines.

The Midwest Asset Services team of Senior Vice President Micah Larmie, Operations Director Bonnie Boden and Director of Engineering Pete Miceli will provide management and building engineering services for the two properties. General Manager Jona Schmidt will be on-site to directly oversee operations.

“When we were reviewing candidates to provide management services at Ruan Center, we were impressed by Transwestern’s tenant engagement philosophy and its recent BOMA International TOBY Award,” said Bradley Meister, the Construction Project Manager at Ruan Corporation. “Understanding what goes into such a prestigious award solidified my confidence in the team’s ability to transform buildings like ours.”

Built in 1975, the 24-story Ruan Center was named one of the 50 Most Significant Iowa Buildings of the 20th Century by the Iowa chapter of the American Institute of Architects. It is in the core of Des Moines’ Central Business District, widely recognized as one of the country’s up-and-coming downtowns. Experiencing 15.1% population growth since 2010, Des Moines is one of the fastest-growing major metropolitan areas in the country. Additionally, the market has experienced a 2.7% increase in employment growth since July 2018.

“We are excited for the opportunity to expand our services in Des Moines and work with the Ruan family, an iconic organization with a proud history,” said Larmie. “The growth potential in this vibrant market makes the win even more exciting for Transwestern and our Midwest property management team, and we look forward to delivering value through many avenues for our client.”

ABOUT TRANSWESTERN COMMERCIAL SERVICES

Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.

ABOUT RUAN COMPANIES

Founded in 1932, Ruan is a family owned transportation company, providing dedicated contract transportation, logistics management and warehouse management solutions to customers across the country. With more than 85 years of transportation experience, Ruan is one of the top 10 privately owned transportation service companies in the country. The company operates in 48 states and has more than 300 locations nationwide.

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Stefanie Lewis
Transwestern Commercial Services
7132721266
stefanie.lewis@transwestern.com

Four New Metro Areas Reach Full Home Price Recovery

Improvement continues, but 21 major metro areas still have value gaps from the previous boom-era high

PR Newswire

FOSTER CITY, Calif., Dec. 12, 2019 /PRNewswire/ — HSH.com, a trusted online resource for mortgage data, content and expertise, has released its latest quarterly Home Price Recovery Index, an analysis of the nation’s top 100 metropolitan housing markets. The housing market report shows about 80% of home prices are at previous boom-era peaks, while others have not yet recovered their lost value from the Great Recession.

The study examines home values in the largest 100 metropolitan areas from 1991 through the third quarter of 2019. A faster-rising pace of home prices in many metros during the latest quarter enabled four metro areas to reach values last seen during boom-era peaks more than 13 years ago. Those are:


  • SacramentoRosevilleFolsom, CA

  • OxnardThousand OaksVentura, CA

  • MiamiMiami Beach-Kendall, FL

  • Fort LauderdalePompano BeachSunrise, FL

However, despite years of economic expansion and improving real estate markets, 21 of the nation’s most populated metro areas have not seen values recover to previous highs. Even if gains in value accelerate, some markets seem unlikely to reach recovery in the current economic and housing cycle.

HSH.com’s “Home Price Recovery Index” uses the Federal Housing Finance Agency’s (FHFA) Home Price Index for insight on housing markets values. By this reference, 87 of the 100 largest metro areas enjoyed quarter-to-quarter increases in home values, and no metros report any decline in value when compared against the same period a year ago.  But there is a danger sign with price gains becoming uneven, since 13 metro areas are showing lower values in the third quarter of 2019, compared to the second quarter.


Areas with greatest pricing recovery


Percent value now above “boom era” price peak

1. Denver-Aurora-Lakewood, CO

93.48%

2. Austin-Round Rock-Georgetown, TX

81.23%

3. Dallas-Plano-Irving, TX

74.39%

 


Areas with largest recovery gaps


Percent increase needed to regain price peak

1. Bakersfield, CA

21.74%

2. Cape Coral-Fort Myers, FL

16.61%

3. Camden, NJ

16.51%

It is important to note that many markets have seen significant price recoveries since hitting their bottom values, but that many still have not fully recovered the lost value. In fact, there are still five metro areas where this is the case, despite a doubling or more of ‘bust-era’ bottom home values. Two of those remain in the group with the largest value gap yet to close.


Areas nearing recovery


Percent increase needed to regain price peak

1. Tucson, AZ

0.56%

2. North Port-Sarasota-Bradenton, FL

1.63%

3. Frederick-Gaithersburg-Rockville, MD

2.14%

Important takeaways

  • Lower mortgage rates have helped re-ignite home price gains. Faster home price increases pushed four new markets into the recovered ranks in the third quarter, a number greater than in the last three quarters combined. Sixty-one markets now have values that are more than 10% above previous peaks. A year ago, that number was 54.
  • Only seven metros still have double-digit value gaps yet to fill. A year ago, all of the markets furthest away from full recovery had gaps of no less than 11%, with the largest difference over 27%. With home prices on an upward march for most areas, only seven markets now have chasms greater than 10%, with the largest just under 22% in Bakersfield, CA and the smallest just over 7% in the ChicagoNapervilleEvanston metro area.
  • There were no new entrants into the most-recovered group. Stronger price gains in Texas saw two metros elbow their way up the ranks, with the DallasPlanoIrving and Fort WorthArlingtonGrapevine, TX metros moving up to the #3 and #4 slots, pushing the San FranciscoSan MateoRedwood City metro to the #5 position. Another Texas market (San AntonioNew Braunfels) also climbed a spot in rank, moving to #8.
  • With a value gap of 7.34% yet to fill, the ChicagoNapervilleEvanston metro area slid into the #10 slot of the group with the largest gaps between previous peak and current values. This area experienced a 0.45% decrease in value in the third quarter even as other markets that have not yet recovered saw gains. For example, the Lake County (IL)-Kenosha County (WI) metro saw values increase by 2.57% in the period, vaulting it out of the bottom group.

See the full analysis here: https://www.hsh.com/finance/real-estate/home-price-recovery.html

Homeowners interested in seeing how their home’s value has changed over time are encouraged to use HSH.com’s free “Home Value Estimator.” The tool allows users to select their market from 100 metropolitan areas and enter the time frame in which they’ve owned their home; changes in the home’s value during this ownership period are revealed and a current price estimate based on housing cost trends in the selected metro area is provided.

About HSH.com


HSH.com
is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. QuinStreet is committed to providing consumers and businesses with the information and tools they need to research, find and select the products and brands that meet their needs. HSH.com is a member of the company’s expert research and publishing division.

Since 1979, HSH.com has been a trusted mortgage resource for consumers seeking independent, objective and expert-level information, forecasts and data. HSH.com offers unique analysis, calculators, tools and content to help demystify first mortgages, home equity loans and lines of credit, reverse mortgages and more. HSH.com empowers homebuyers and homeowners to fully understand their home financing choices and provide opportunities for them to engage with partners to execute their transactions.

Website: https://www.hsh.com
Twitter: @HSHassociates
Facebook: https://www.facebook.com/HSHassociates/

Press Contact

Jacqueline Leppla

jleppla@quinstreet.com

(775) 842-9048

OR

Liberty Communications for QuinStreet
Rick Judge, 415-429-5652
QuinStreet@libertycomms.com

 

Cision View original content:http://www.prnewswire.com/news-releases/four-new-metro-areas-reach-full-home-price-recovery-300974145.html

SOURCE HSH.com

The Industry’s First Accelerometer with Built-In Noise Filtering Function

Provides flexible support for machine condition monitoring of industrial equipment

Ithaca, New York, USA, Dec. 12, 2019 (GLOBE NEWSWIRE) — ROHM Group company Kionix recently announced the availability of an accelerometer ideal for high accuracy, low power motion sensing applications in the industrial equipment and consumer wearable markets.

In recent years, as factories have begun to save labor costs and increase efficiency, the concept of predictive maintenance for detecting abnormalities before equipment malfunctions has gained broad acceptance. This has increased the need for machine health monitoring along using sensors to detect equipment conditions (i.e. motor vibration).  

The KX134-1211 is a 3-axis accelerometer optimized for machine condition monitoring. Advanced Data Path (ADP) technology allows noise filtering and sensor signal processing normally carried out by the MCU to be performed by the accelerometer. They contribute to reducing MCU load and power consumption together with improved application performance. In addition, to meet industrial requirements, the sensing frequency and acceleration detection ranges have been increased to 8,500Hz and ±64g, respectively, while supporting operating temperatures up to 105°C. At the same time, the sensor itself consumes less than half the current (0.67μA in low power mode) compared to conventional products. Additional features include Wake Up and Back to Sleep functions that contribute to lower power consumption, enabling sensing operation in battery-equipped wearable devices. 

A leading supplier of compact accelerometers, Kionix is responding to market needs by developing products for the industrial sector. Kionix will continue to contribute to a growing IoT society by expanding its sensor lineup featuring high accuracy and low power consumption.

Availability: Now 

Key Features

1. Original ADP (Advanced Data Pass) technology reduces MCU load

ADP is Kionix’s new function that replaces the filtering function of conventional MCUs. Specifically, multiple customizable frequency filters built into the sensor eliminate unnecessary noise signals by employing a versatile configuration that extracts only the necessary signals. Each filter can be switched ON and OFF, providing flexible operation. Frequency filtering and signal power calculation (root mean square calculation) conventionally carried out by a host MCU can now be performed on sensor side, reducing MCU load and associated power consumption.

2.  Ideal for machine condition monitoring of industrial equipment

The KX132-1211 features a max. frequency band of 4,200Hz and acceleration detection range from ±2g to ±16g, while the high-grade KX134-1211 expands the frequency band to 8,500Hz and acceleration range from ±8g to ±64g. In addition, unlike conventional products that can only operate up to 85°C, both models provide stable operation up to 105°C. The higher operating temperature supports a wider range of frequency and acceleration detection, making them ideal for machine condition monitoring such as motor vibration analysis in industrial equipment.

3. Reduces device and application power consumption

The KX134-1211 consumes 63% lower current than the current consumption of other conventional products (0.67μA in low power mode). In addition, a high resolution Wake Up function reports when acceleration exceeds an user-defined value. A Back to Sleep function prompts the MCU to switch back to an energy saving mode when acceleration is not detected for a certain amount of time. Reducing power consumption of not only the accelerometer but the MCU as well while the signal of interest is absent improves the power efficiency of the entire application, contributing to longer battery life in portable devices such as wearable and automotive smart keys.

Application Examples

・ Health, predictive maintenance, and condition/vibration monitoring (machine condition monitoring) in motor-equipped industrial equipment

・ Logistics tracking in combination with GPS

・ Wearables

・ Automotive smart keys


About Kionix

Kionix, Inc., a global MEMS inertial sensor manufacturer based in Ithaca, NY, USA, offers high-performance, low-power accelerometers, gyroscopes, and 6-axis combination sensors plus comprehensive software libraries that support a full range of sensor combinations, operating, systems and hardware platforms.
Leading consumer, automotive, health and fitness, and industrial companies worldwide use Kionix sensors and total system solutions to enable motion-based functionality in their products. Kionix is ISO 9001:2008, TS 16949, and TS 14001:2004 certified.
Kionix is a wholly owned subsidiary of ROHM Co., Ltd., a leading semiconductor component manufacturer. ROHM Group Companies include ROHM, Kionix and LAPIS Semiconductor. Combined, they offer a broad range of products and solutions optimized for a variety of applications and markets, from sensors, discretes, and SiC to power management ICs, low-power MCUs, and even intelligent digital power.

Attachment

Jayme Pontious
ROHM Group
jpontious@rohmsemiconductor.com

Genworth MI Canada Inc. acknowledges closing of Genworth Financial, Inc. sale of majority interest to Brookfield Business Partners

Canada NewsWire

TORONTO, Dec. 12, 2019 /CNW/ – Genworth MI Canada Inc. (the “Company“) (TSX: MIC) acknowledges closing of the previously announced sale of Genworth Financial, Inc.’s majority interest in the Company to Brookfield Business Partners L.P., together with its institutional partners (the “Transaction“).

In connection with the Transaction, Brian Hurley, Rohit Gupta, Rajinder Singh and Jerome Upton resigned as Directors of the Company and the Company is pleased to announce that Spencer Enright, Paul Forestell, Alan Norris and David Nowak have been appointed to the Board of Directors of the Company. The Board of Directors wishes to thank Messrs. Hurley, Gupta, Singh and Upton for their years of dedicated service to the Company.

In connection with the closing of the Transaction, the Company has terminated the automatic purchase plan (the “APP Agreement“) and related automatic disposition plan (the “ADP Agreement“) entered into in connection with the Company’s current normal course issuer bid (the “NCIB“). The agreements facilitated the implementation of the NCIB, including purchases of common shares from Genworth Financial, Inc. thereunder. At the time the APP Agreement and the ADP Agreement were terminated, the Company was not aware of any material fact or material change with respect to the Company or any of its securities that had not been generally disclosed.

About Genworth MI Canada Inc.

Genworth MI Canada Inc. (TSX: MIC) through its subsidiary, Genworth Financial Mortgage Insurance Company Canada (“Genworth Canada“), is the largest private sector residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. Genworth Canada differentiates itself through customer service excellence, innovative processing technology, and a robust risk management framework. For more than two decades, Genworth Canada has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system. As at September 30, 2019, the Company had $7.1 billion total assets and $4.0 billion total shareholders’ equity. Find out more at www.genworth.ca.   


Contact Information

:

Investors — Aaron Williams, 905-287-5504 aaron.williams@genworth.com
Media — Susan Carter, 905-287-5520 or susan.carter@genworth.com

SOURCE Genworth MI Canada

Rheos Medicines Announces Publication of Perspective in Cell Metabolism Highlighting the Rationale and Potential of Employing Principles of Immunometabolism to Discover and Develop Novel Medicines

Rheos Medicines Announces Publication of Perspective in Cell Metabolism Highlighting the Rationale and Potential of Employing Principles of Immunometabolism to Discover and Develop Novel Medicines

The new field of immunometabolism is the study of how metabolic pathways control immune cell differentiation and function

CAMBRIDGE, Mass.–(BUSINESS WIRE)–
Rheos Medicines, a biopharmaceutical company harnessing insights in immunometabolism to create a new class of therapeutics for patients with severe autoimmune disorders, inflammatory diseases and cancer, today announced the online publication of a perspective in Cell Metabolism that highlights the rationale and potential of employing principles of immunometabolism to discover and develop novel medicines. The article, entitled The Untapped Opportunity and Challenge of Immunometabolism: A New Paradigm for Drug Discovery, was published online today in Cell Metabolism (DOI: 10.1016/j.cmet.2019.11.014).

Immune cells modulate their energy requirements in response to changes in their environment, which include interactions with pathogens, tumor cells, other immune system cells and molecules such as growth factors and antibodies. The metabolic programs that are induced or inhibited as immune cells respond to such stimuli can drive immune cell activation, differentiation, or suppression. Understanding the mechanisms through which metabolism can dictate the function or fate of immune cells is a new platform for target and biomarker discovery with a goal of identifying new medicines with potential to selectively tune the immune system to amplify or dampen its response. The perspective reviewed the underlying biology of immunometabolism and the new tools to discover and develop novel therapeutics based on this paradigm.

“To exploit this new field of immunometabolism, we have developed and industrialized a platform that comprehensively elucidates the metabolic pathways and targets with potential to control immune cell fate or function, as well as their associated metabolite biomarkers,” said Laurence Turka, M.D., Chief Scientific Officer and co-founder of Rheos. “Our approach employs a proprietary integration of metabolomic, transcriptomic, and other data to generate immunometabolism network maps (imMAPs™) that characterize immune cell activation and differentiation through a metabolic lens. Our imMAPs have potential to tap currently undiscovered or poorly understood biology and enable development of new therapeutics for a wide range of diseases including autoimmunity and cancer.”

Barbara Fox, Ph.D., Chief Executive Officer of Rheos, added, “Immunometabolism has the potential to be the next frontier in drug discovery. Our pioneering product engine has the breadth and power to identify novel metabolic targets across a diverse set of pathways, better understand the metabolic impact of existing therapies and bring the benefits of personalized medicine to autoimmunity. Based on our work to-date, we have initiated drug discovery efforts in a number of programs and we look forward to providing further updates as we continue to make progress.”

About Rheos Medicines

Rheos Medicines is a biopharmaceutical company harnessing insights in immunometabolism to develop novel therapeutics for patients with severe autoimmune disorders, inflammatory diseases and cancer. Our approach targets the underlying intracellular metabolism of immune cells and has the potential to unlock a new frontier in drug discovery for immune-mediated disease. Through a proprietary platform and product engine that integrates multiple “omic” datasets, we systematically define the biologic links between immune cell metabolism and function and simultaneously identify new drug targets and biomarkers of disease to bring precision to the treatment of immune-mediated diseases. We have assembled leading scientists whose discoveries opened the field of immunometabolism, clinicians with a deep understanding of immune-mediated diseases, and an experienced biotech leadership team. Rheos was founded by Third Rock Ventures and is located in Cambridge, MA. For more information, please visit www.rheosrx.com.

INVESTORS & MEDIA:

Investors:

Gad Soffer

Chief Operating Officer

gsoffer@rheosrx.com

650-477-8183

John Grimaldi, Burns McClellan

jgrimaldi@burnsmc.com

212-213-0006 x362

Media:

Ryo Imai / Robert Flamm, Ph.D., Burns McClellan

rimai@burnsmc.com / rflamm@burnsmc.com

212-213-0006 x315 / 364

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Biotechnology Health Genetics Pharmaceutical Oncology

MEDIA:

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