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Cybin Establishes Clinical Advisory Board of Renowned Physicians, Dr. Maurizio Fava, Dr. Lynn Marie Morski and Dr. Anthony Back

Cybin Establishes Clinical Advisory Board of Renowned Physicians, Dr. Maurizio Fava, Dr. Lynn Marie Morski and Dr. Anthony Back

TORONTO–(BUSINESS WIRE)–Cybin Inc. (NEO:CYBN) (OTCQB:CLXPF) (“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, today announced the formation of its Clinical Advisory Board, with the additions of Maurizio Fava, MD, Psychiatrist-in-Chief in the Department of Psychiatry at Massachusetts General Hospital; Lynn Marie Morski, MD, Esq., President of the Psychedelic Medicine Association; and Anthony Back, MD, Professor in the Department of Medicine and Division of Oncology at the University of Washington. The Clinical Advisory Board will be chaired by Alex Belser, PhD, Cybin’s Chief Clinical Officer.

“We are delighted to welcome three accomplished experts in their respective fields to guide the strategic development of Cybin’s clinical programs. Together, Drs. Fava, Morski, and Back add unparalleled clinical expertise and strengthen our position to advance psychedelic therapeutics. Their insights will be especially valuable as we move our development pipeline through clinical trials,” stated Doug Drysdale, Chief Executive Officer.

“It is an honor to work alongside these visionary physicians who have shaped the clinical landscape,” said Dr. Belser, Chair of the Clinical Advisory Board. “In these unprecedented times, we are confronting an unfolding mental health crisis, high unmet need and inadequate existing treatments. With the guidance of our team of advisors, we are aiming to develop psychedelic medicine to address these challenges with skill, integrity and compassion.”

Dr. Maurizio Fava is an international leader in the field of depression. He serves as Psychiatrist-in-Chief in the Department of Psychiatry at Massachusetts General Hospital. He is also Director of the Division of Clinical Research, Mass General Research Institute, Associate Dean for Clinical & Translational Research, and Slater Family Professor of Psychiatry at Harvard Medical School. In 2007, he founded and is now Executive Director of the Mass General Psychiatry Clinical Trials Network and Institute (“CTNI”), the first academic contract research organization (“CRO”) specialized in planning and coordination of multi-center clinical trials in psychiatry. He has authored or co-authored more than 800 original articles published in medical journals with international circulation, edited eight books, and published more than 50 chapters and over 600 abstracts. Dr. Fava earned his medical degree from the University of Padua.

Dr. Lynn Marie Morski is the President of the Psychedelic Medicine Association (“PMA”), a society of physicians, therapists and health care professionals looking to advance their education on the therapeutic uses of psychedelic medicines. The PMA is a public benefit corporation of health care providers working to bridge the gap between the advances taking place in the psychedelic research world and medical practitioners. Dr. Morski is also host of the Plant Medicine Podcast, the founder of PlantMedicine.org, and the medical director for WayofLeaf.com. She is a Mayo Clinic-trained physician in family medicine and sports medicine, as well as an attorney and former adjunct law professor. Dr Morski earned her medical degree at Saint Louis University School of Medicine and her law degree at Thomas Jefferson School of Law.

Dr. Anthony Back is a recognized leader in the fields of palliative care and oncology. He is a board-certified physician at Colorectal Services at University of Washington Medical Center, co-director of the University of Washington Center for Excellence in Palliative Care, and a University of Washington professor of Oncology and Medicine and an adjunct professor of Bioethics and Humanities. He is triple board certified in Hospice and Palliative Medicine, Medical Oncology and General Internal Medicine. He was the principal investigator for the Oncotalk interventions, co-wrote Mastering Communication with Seriously Ill Patients, released the first iPhone app for clinician communication skills, and is a Contemplative Studies Fellow of the Mind and Life Institute. His clinical and research interests include patient-physician communication and quality of life palliative care. Dr. Back earned his medical degree at Harvard Medical School.

Dr. Alex Belser is a well-known leader in the field of psychedelic research and Chair of Cybin’s Clinical Advisory Board. Dr. Belser has served as an investigator on clinical trials of psilocybin and MDMA to treat depression, anxiety, substance use, obsessive-compulsive disorder (“OCD”), post-traumatic stress disorder (“PTSD”), and end-of-life distress at New York University and Yale University. Dr. Belser previously served as Chief Clinical Officer at Adelia Therapeutics. Dr. Belser was the founding President of Nautilus Sanctuary, the first non-profit center for psychedelic medicine in the eastern United States. He has written and taught widely on the topic of psychedelic medicine, having given over 50 lectures, presentations, and Grand Rounds on psychedelic topics. Dr. Belser trained at Bellevue Hospital, Mount Sinai Beth Israel Hospital, and New York Psychiatric Institute at Columbia University. Dr. Belser has a Bachelor of Arts degree in English and Government from Georgetown University, a Master of Philosophy degree from Cambridge University, a PhD in Counseling Psychology from New York University, and completed his Clinical Research Fellowship at Yale University.

About Cybin

Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.

Cautionary Notes and Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release may include statements regarding enhanced liquidity, the value of additional capital markets exposure, access to institutional and retail investors, the Company’s new strategic brand messaging campaign, and psychedelic drug development programs to potentially treat mental health disorders. There are numerous risks and uncertainties that could cause actual results and Cybin’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.

The NEO Exchange has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.

Investor Contacts:

Tim Regan/Scott Eckstein

KCSA Strategic Communications

[email protected]

Lisa M. Wilson

In-Site Communications, Inc.

[email protected]

Media Contacts:

John Kanakis

Cybin Inc.

[email protected]

Annie Graf

KCSA Strategic Communications

[email protected]

Faith Pomeroy-Ward

In-Site Communications, Inc.

[email protected]

KEYWORDS: United States North America Canada

INDUSTRY KEYWORDS: Mental Health Research Clinical Trials Biotechnology Health Pharmaceutical General Health Science Oncology

MEDIA:

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CareRx Announces Agreement to Acquire Long-Term Care Pharmacy Division of Medical Pharmacies and Committed Subscription Receipt Financing of $55 Million


– Acquisition adds 36,000 residents serviced, adds $150 million in annual revenue and is expected to be immediately accretive with significant synergies –

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TORONTO, April 19, 2021 (GLOBE NEWSWIRE) — CareRx Corporation (“CareRx” or the “Company”) (TSX:CRRX), Canada’s leading provider of pharmacy services to seniors communities, announced today that it has entered into a definitive agreement to acquire the Long-Term Care Pharmacy Division (the “LTC Pharmacy Division”) of Medical Pharmacies Group Limited (“MPGL”), which is comprised of 18 fulfillment centres serving approximately 36,000 residents of long-term care, assisted living and other congregate care settings across Ontario, Alberta and British Columbia (the “Acquisition”). Upon closing, CareRx expects to service over 88,000 residents through a significantly strengthened national fulfillment network.

Acquisition Highlights

  • Adds approximately $150 million in annual revenue and is expected to be immediately accretive with significant synergies
  • Continues CareRx’s development as Canada’s leading seniors pharmacy provider with more than 88,000 beds
  • Increased scale will allow CareRx to capitalize on favourable industry dynamics including a rapidly growing seniors population
  • $75 million1 acquisition price to be financed through offering of subscription receipts and refinancing of existing credit facilities

“The acquisition of MPGL’s LTC Pharmacy Division is our most transformational acquisition to date and will increase the number of homes and residents we service by approximately 70%,” said David Murphy, President and Chief Executive Officer of CareRx. “MPGL’s LTC Pharmacy Division has a reputation for service and clinical excellence and, as part of CareRx, will provide strategic benefits that we are confident will further strengthen our service offering to our customers, while enhancing our future growth opportunities. With our proven track record of integrating acquisitions, we expect to generate significant operational synergies that will contribute to a meaningful expansion of our EBITDA margin.”

Mr. Murphy added, “The number of Canadians living in seniors housing is expected to more than double over the next 15 years. This Acquisition significantly expands our national platform, which we believe will be increasingly valued by home operators as they look to partner with a pharmacy provider that can support the highest levels of service, quality and care for their residents.”

“We are pleased to announce the signing of the sale of our LTC Pharmacy Division. We believe that this transaction is in the best interest of our stakeholders and that the combined business will be well positioned to provide outstanding service to its customers,” said John Leader, Chief Executive Officer of MPGL.

The Acquisition is expected to be immediately accretive to CareRx’s earnings, contributing run-rate revenue of approximately $150 million to CareRx on an annualized basis, with the integration of the two businesses expected to result in significant synergies, based on CareRx’s history of successful integrations.

The consideration for the Acquisition is comprised of $70 million of cash and the issuance of 1 million common shares of CareRx (“Common Shares”), payable at closing of the Acquisition (the “AcquisitionClosing”). The Acquisition is expected to close in late June or early July of 2021, subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals, including the approval of the applicable college of pharmacies and the Competition Bureau.


Acquisition Financing

Bought Deal Private Placement of Subscription Receipts: CareRx has entered into an agreement with Eight Capital and Cormark Securities Inc. (the “Co-Lead Underwriters”), on behalf of a syndicate of underwriters (together with the Co-Lead Underwriters, the “Underwriters”) pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 8,911,000 subscription receipts of the Company (the “Subscription Receipts”) at a price of $5.05 per Subscription Receipt (the “Issue Price”) for aggregate gross proceeds of approximately $45 million (the “Bought Deal Financing”).

Concurrent Private Placement to Yorkville Asset Management: CareRx has also entered into a binding term sheet with Yorkville Asset Management Inc. (for and on behalf of certain managed funds, “Yorkville”) pursuant to which Yorkville will purchase 1,980,200 Subscription Receipts at the Issue Price, on a non-brokered basis, for aggregate gross proceeds of approximately $10 million (the “Non-Brokered Financing” and, together with the Bought Deal Financing, the “Equity Financings”).

Refinancing of Existing Credit Facilities: The Company has entered into binding commitment letters with Crown Capital Partners Inc. (including certain entities and funds controlled by it, “Crown Capital”) and Yorkville, pursuant to which Crown Capital and Yorkville will amend their existing credit facilities with the Company and advance $39 million of total incremental indebtedness to CareRx, to fund a portion of the cash closing price for the Acquisition.


Summary of the Equity Financings

The aggregate gross proceeds from the Equity Financings are expected to be approximately $55 million, which will be used by the Company to fund a portion of the cash purchase price payable in connection with the Acquisition.

In addition, the Company will grant the Underwriters an option (the “Underwriters’ Option“) to sell an additional 1,336,650 Subscription Receipts at the Issue Price for additional gross proceeds of up to approximately $6.75 million which is exercisable up to 48 hours prior to the closing date of the Equity Financings. To the extent the Underwriters’ Option is exercised, Yorkville will have an option to purchase up to an additional 297,030 Subscription Receipts at the Issue Price for additional gross proceeds of up to approximately $1.5 million on similar terms as the Underwriters’ Option.

The gross proceeds from the Equity Financings, net of the expenses of the Underwriters and 50% of the commissions payable to the Underwriters, will be placed into escrow and will be released upon the satisfaction of certain conditions, including CareRx shareholder approval of the Equity Financings (as described below) and completion of the Acquisition. Upon satisfaction of such escrow release conditions, each Subscription Receipt will be exchanged for one Common Share, subject to certain adjustments in the event that the Acquisition Closing does not occur by certain prescribed dates, in which case each Subscription Receipt will be exchanged for up to 1.1 Common Shares.

The Equity Financings are expected to close on or about May 19, 2021 and are each subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange (the “TSX”). Under applicable TSX policies, the Company is required to obtain shareholder approval for the Equity Financings, including disinterested shareholder approval, prior to the exercise of the Subscription Receipts into Common Shares. The Company expects to convene an annual and special meeting of shareholders (the “Meeting”) in early June at which it will seek shareholder approval of the Equity Financings. In connection therewith, certain significant shareholders of CareRx representing, in the aggregate, approximately 42% of the Common Shares entitled to vote at the Meeting, have signed voting support agreements under which they have committed to approving the Equity Financings at the Meeting.

The Subscription Receipts to be issued under the Equity Financings and the Common Shares exchanged for the Subscription Receipts upon the Acquisition Closing will be subject to a hold period in Canada expiring four months and one day from the closing date of the Equity Financings.


Summary of the Refinancing of Existing Credit Facilities

The Company has signed a binding commitment letter with Crown Capital, on behalf of a syndicate of lenders, pursuant to which Crown Capital will advance new credit facilities to the Company of $60 million (the “Senior Facility”). $32 million of the Senior Facility will be used to pay a portion of the cash closing price for the Acquisition and related transaction costs, with the remaining $28 million being used to repay the existing term loan with Crown Capital in full. The Senior Facility will be advanced contemporaneously with the Acquisition Closing. Interest on the Senior Facility will accrue at an annual rate of between 7.5% and 9% based on applicable financial covenants, and the Senior Facility will mature on the 5th anniversary of the Acquisition Closing, subject to certain prepayment rights in favour of the Company.

The Company has also signed a binding commitment letter with Yorkville pursuant to which Yorkville will increase the principal amount outstanding under its existing subordinated facility with the Company (the “Subordinated Facility”) by $6 million, which Subordinated Facility will be used to fund working capital needs of the Company. The credit agreement for the Subordinated Facility will also be amended to reduce the interest rate from 12% to 10.5% per annum, and the maturity date of the Subordinated Facility will be extended until the 5th anniversary of the Acquisition Closing, subject to certain prepayment rights in favour of the Company. The amendments to the Subordinated Facility are not conditional on completion of the Acquisition, and are expected to become effective on or about May 1, 2021.

The Subordinated Facility constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Holders in Special Transactions (“MI 61-101”) as Yorkville is a control person of CareRx and is therefore a “related party” of CareRx under MI 61-101. The Company has relied on the exemption from the minority approval requirement contained in section 5.7(1)(f) of MI 61-101 in respect of the Subordinated Facility as the Subordinated Facility has been obtained from Yorkville on reasonable commercial terms that are not less advantageous to the Company than if the Subordinated Facility was obtained from a person dealing at arm’s length with the Company and is not convertible or repayable in Common Shares. A material change report in respect of the Acquisition, the Equity Financings, the Senior Facility and the Subordinated Facility will be filed as required, but is not expected to be filed 21 days in advance of the closing of the Subordinated Facility due to the Company’s immediate need for the proceeds of the Subordinated Facility. The disinterested members of the Company’s Board of Directors have unanimously approved the Subordinated Facility.


Advisors and Counsel

In connection with the Acquisition, Origin Merchant Partners and BDO Canada LLP acted as the financial advisors to CareRx and Stikeman Elliott LLP acted as legal advisor. Richter LLP acted as the financial advisor to MPGL and Torys LLP acted as legal advisor. Bennett Jones LLP is acting as legal counsel to the Underwriters. Eight Capital and Cormark Securities Inc. acted as strategic advisors to CareRx.


The securities described in this press release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.


ABOUT CARERX

CareRx is Canada’s leading provider of pharmacy services to seniors communities. We serve over 52,000 residents in over 900 seniors and other congregate care communities (long-term care homes, retirement homes, assisted living facilities, and group homes). We are a national organization with a large network of pharmacy fulfillment centres strategically located across the country. This allows us to deliver medications in a timely and cost-effective manner and quickly respond to routine changes in medication management. We use best-in-class technology that automates the preparation and verification of multi-dose compliance packaging of medication, providing the highest levels of safety and adherence for individuals with complex medication regimes. We take an active role in working with our home operator partners to promote resident health, staff education, and medication system quality and efficiency.


ABOUT MEDICAL PHARMACIES

MPGL is one of Canada’s leading continuing care pharmacies, providing services and support to complex continuing care residents and clients across Ontario, Alberta and British Columbia. MPGL also provides specialty pharmacy services and support to physician and specialist clinics, hospitals and other care institutions. Through its subsidiary Ontario Medical Supply (www.oms.ca), MPGL also offers a comprehensive and complementary suite of medical products. For more information on MPGL, please visit www.medicalpharmacies.com.


FORWARD-LOOKING STATEMENTS

This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding the Company’s business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events, including in respect of the Acquisition, the Equity Financings, the Senior Facility and the Subordinated Facility. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate” or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management.

Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include the Company’s exposure to and reliance on government regulation and funding, the Company’s liquidity and capital requirements, exposure to epidemic or pandemic outbreak, the highly competitive nature of the Company’s industry, reliance on contracts with key customers and other risk factors described from time to time in the reports and disclosure documents filed by the Company with Canadian securities regulatory agencies and commissions. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future results, levels of activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The factors underlying current expectations are dynamic and subject to change.

For more information, visit 

www.carerx.ca

or contact:

David Murphy
President & Chief Executive Officer
CareRx Corporation
416-927-8400		   Lawrence Chamberlain
Investor Relations
LodeRock Advisors
416-519-4196
[email protected]

_______________________
1 Purchase Price consideration comprised of $70 million of cash and the issuance of 1 million common shares of CareRx.



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PTT Invests in Lotus Pharmaceutical’s Strategic Partnership in South East Asia

PTT Invests in Lotus Pharmaceutical’s Strategic Partnership in South East Asia

  • The transaction creates a very strong platform to expand market access in the ASEAN region.
  • Both parties are committed to further collaboration to provide patients with better access to high quality medicines across the region.

TAIPEI, Taiwan–(BUSINESS WIRE)–
Lotus Pharmaceutical Co., Ltd. (“Lotus” or “the Company”, Taiwan TWSE ticker: 1795), an Alvogen company, has announced the issuance of new shares through private placement to be acquired by Innobic (Asia). The move is aimed at further strengthening the company’s market access in the ASEAN region. Innobic (Asia) is a wholly owned subsidiary of PTT Public Company Limited (“PTT”, SET ticker: PTT), the largest publicly listed conglomerate in Thailand. PTT, whose majority owner is the Ministry of Finance in Thailand, is the nation’s only company listed in the Fortune Global 500.

Under the agreement, Innobic (Asia), PTT’s Pharmaceutical and Life Science arm, commits to an investment of approximately US$50 million, to subscribe 17,517,348 new shares via private placement at the price of NT$80.7 per share.

Through this strategic alliance, Lotus and Innobic (Asia) will jointly explore opportunities in the South East Asia pharmaceutical markets, including but not limited to Thailand, Vietnam, Philippines, Malaysia and other ASEAN countries. The partnership combines Lotus’ strong pipeline, wide portfolio, R&D and Business Development capabilities, combined with extensive industry knowledge and high Good Manufacturing Practices (GMP) standards, with Innobic and PTT’s solid market access, local knowledge, creditability, potential commercial network and business relationship.

Robert Wessman, Chairman of Lotus Pharmaceuticals, commented: “This partnership is an important milestone in realizing our vision to establish Lotus as a global leader in generic oral oncology products. Lotus has secured partnerships with many of the leading pharmaceutical companies around the world to market and commercialize our products. The addition of Innobic (Asia) as a shareholder, will further support the long-term growth of Lotus in Asia and its mission to become a global leader in oral oncology.”

Dr. Buranin Rattanasombat, Senior Executive Vice President PTT group and Chairman of Innobic (Asia), commented: “PTT Group has continuously expanded our business value-chain to satisfy the changing demands of a diversified and broader customer base. With the rising concern on the importance of healthcare eco-system, it has become a part of our Innobic (Asia)’s strategy to promote innovative medicines in Thailand and South East Asia to improve patient’s access to more affordable medicines with quality. Today’s venture marks yet another successful milestone towards this goal. We are delighted to be partner with Lotus who we trust as leader in the industry.”

About Lotus

Founded in 1966, Lotus is a generic company headquartered in Taiwan with high-value generic products covering CNS, CVS, oncology, women health, and anti-obesity drugs in tablets & hard/softgel capsule for global markets. It became an Alvogen Company in 2014. The primary focus of Lotus is on addressing the fast-growing oncology market. By aligning the company’s internal development and manufacturing capabilities, Lotus aims to benefit patients, its employees, and shareholders alike. The company boasts a best-in-class R&D and manufacturing platform across Taiwan and Korea. Further, Lotus can reach nearly every global market with its high value pipeline through the company’s direct markets, relationship with Alvogen’s commercial units spanning over 30 countries, and through alliances with top-tier pharma companies.

About Innobic (Asia)

Innobic (Asia) Company Limited, officially established on December 2020, aims to drive for concrete Life Science businesses for PTT Group with its vision as leading life science company in regional by bringing best science and enhancing quality of life.

Angela Luan, Investor Relations Director

+886 2 2700 5908

[email protected]

 

KEYWORDS: Europe Thailand Taiwan Asia Pacific

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health Oncology

MEDIA:

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Baidu Showcases Apollo Solution Upgrades at Auto Shanghai 2021, Strengthening Autonomous Driving Offerings in Latest Commercialization Push

PR Newswire

  • In the second half of 2021, Apollo will come pre-installed with at least one mass-produced car model each month
  • Baidu aims to bring the Apollo Navigation Pilot (ANP) solution to 20 cities this year, and 100 cities by 2023
  • Apollo, which has announced the completion of over 10 million kilometers of road testing for L4 autonomous driving, plans to expand its team to strengthen R&D


BEIJING
, April 19, 2021 /PRNewswire/ — Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888) today unveiled upgrades to its intelligent driving and cloud solutions at the Auto Shanghai 2021, making more customizable offerings available to automakers amid a push for the commercialization of autonomous driving. Baidu also announced plans to have Apollo pre-installed on more mass-produced car models and bring Apollo Navigation Pilot (ANP) to more cities. Baidu Apollo has completed over 10 million kilometers of L4 autonomous driving road testing, making Baidu the first Chinese company to reach this milestone.  

Apollo intelligent driving solutions are one of the highlights being showcased at the auto show. Powered by Apollo’s L4 autonomous driving technology, intelligent driving solutions have been empowering the production of autonomous vehicles around the world. Baidu also announced upgrades to its intelligent cloud solutions, which are designed to support auto companies in building intelligent capabilities. The upgraded solutions have the capability to significantly shorten the autonomous driving R&D cycle from the current seven years to six months.

Apollo and its Intelligent Driving Solutions to be Available in More Car Models and Cities in the Near Future

Among the intelligent driving solutions, ANP is a leading navigation pilot product that adopts a pure visual solution and is developed based on the same technology structure of Apollo L4 autonomous technology. Compared with the lidar solutions, ANP’s advantages are its lower cost, mass-production, and self-learning capabilities. Together with the Apollo Valet Parking (AVP) solution that offers an automated parking experience, the intelligent driving solutions allow users to enjoy autonomous driving in real complex urban scenarios in cities including Beijing, Shanghai and Guangzhou. Baidu also plans to bring ANP to urban roads and highways in 20 cities this year and 100 cities by 2023.

One of the mass-produced car models using the Apollo AVP solution is the Weltmeister W6, receiving encouraging response from the industry. Baidu targets to have Apollo’s solutions pre-installed on one million vehicles over the next three-to-five years. In the second half of 2021, the Apollo will come pre-installed with at least one mass-produced car model each month, bringing a safe and cutting-edge autonomous driving experience to more consumers on at least six car models.

Upgrades of Intelligent Cloud Solutions Unveiled at the Auto Show

Baidu also revealed upgrades to its intelligent cloud solutions to empower partners developing autonomous vehicles by enhancing their production process, understanding of users and car security. With the upgraded intelligent cloud solutions, auto companies will be able to accelerate the development of their autonomous driving technology and mass production plans.

Under the autonomous driving cloud solution, Apollo will assist partners in developing AI production lines. With the big data cloud solution, Apollo will work with car companies on a closed loop for self-learning in a smart cabin, that will allow carmakers to better understand users and provide them with a customized driving experience. Leveraging Apollo’s experience in safety technology, the car safety cloud solution will support car companies in improving the car safety levels.

At the show, Apollo also announced a strategic collaboration with Chery Automobile based on intelligent cloud. The two companies will work together to provide users with safer intelligent vehicle services.

Road Testing for L4 Autonomous Driving Marks a Milestone with Total Mileage Exceeding 10 Million
Kilometers

Zhenyu Li, Senior Corporate Vice President of Baidu and General Manager of Intelligent Driving Group (IDG), announced that the mileage of road testing for L4 autonomous driving has exceeded 10 million kilometers. In addition, Apollo’s autonomous driving simulation test has surpassed one billion kilometers, while high-precision maps have been updated every minute. These achievements demonstrate the solid capabilities of Apollo’s solutions from various perspectives.

This year, Apollo plans to strengthen its team and expand its recruitment. Among the new hires, 90% will be dedicated to research and development. The move will help accelerate the large-scale deployment of Baidu’s Robotaxi business, Apollo GO, and the development of solutions that fit the evolving demand amid the push for commercialization of autonomous driving, that will see increased pre-installation of Apollo solutions in mass-produced vehicles.

About Baidu

Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with a strong Internet foundation. Baidu’s ADSs trade on the NASDAQ Global Select Market under the symbol “BIDU”. Currently, each ADS represents eight Class A ordinary shares.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/baidu-showcases-apollo-solution-upgrades-at-auto-shanghai-2021-strengthening-autonomous-driving-offerings-in-latest-commercialization-push-301271414.html

SOURCE Baidu, Inc.

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Gilat Awarded Over $20 Million in Orders for Support of Low Earth Orbit Constellation

PETAH TIKVA, Israel, April 19, 2021 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that it received orders of over $20 million for support of gateways of Low Earth Orbit (LEO) constellations.

Gilat’s subsidiary, Wavestream, was chosen as the vendor of choice to supply Gateway Solid State Power Amplifiers (SSPAs) to a leading satellite operator to support the LEO constellation gateways. The orders were received as part of the previously announced contract.

Wavestream’s Gateway-Class PowerStream 160Ka SSPAs, designed specifically for networks using wide bandwidth uplinks and high order modulation schemes, were selected because of their best-in-class technical performance and their unmatched reliability in harsh environments, best addressing the stringent requirements of Non-Geostationary Satellite Orbit (NGSO) constellations.

“We are fully engaged and committed to deliver the essential SSPAs for the LEO constellation Gateways,” said Bob Huffman, Wavestream’s General Manager. “Wavestream’s proven technological advantage, as well as our unmatched production capacity, make us a perfect supplier for the high volume of Ka-band Gateway-class SSPAs required for this constellation.”

About Wavestream

Wavestream, a Gilat subsidiary is the industry leader in the design and manufacture of next generation satellite communications high power transceivers for In Flight Connectivity, Ground Mobility and Gateway markets. Since 2001, we provide system integrators with field-proven, high performance Ka, Ku and X band Solid State Power Amplifiers (SSPAs), Block Upconverters (BUCs), Block Down Converters and Transceivers. We design, manufacture and repair our products in-house and have delivered over 40,000 systems in the past 15 years. Wavestream products provide high quality and reliability under the harshest environmental conditions and we are currently certified to ISO 9001:2008 and AS9100D standards. For further details please visit www.wavestream.com

About Gilat

Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With 30 years of experience, we design and manufacture cutting-edge ground segment equipment, and provide comprehensive solutions and end-to-end services, powered by our innovative technology. Delivering high value competitive solutions, our portfolio comprises of a cloud based VSAT network platform, high-speed modems, high performance on-the-move antennas and high efficiency, high power Solid State Amplifiers (SSPA) and Block Upconverters (BUC).

Gilat’s comprehensive solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense and public safety, all while meeting the most stringent service level requirements. Gilat controlling shareholders are the FIMI Private Equity Funds. For more information, please visit: www.gilat.com

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, risks associated with the outbreak and global spread of the coronavirus (COVID-19) pandemic; changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

Contact:

Gilat Satellite Networks
Doreet Oren, Director Corporate Communications
[email protected]

GK Investor and Public Relations
Ehud Helft, Managing Partner
[email protected]



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U.S. FDA Approves CytoSorbents to Initiate U.S. STAR-T Trial For Ticagrelor Removal During Cardiothoracic Surgery

PR Newswire

MONMOUTH JUNCTION, N.J., April 19, 2021 /PRNewswire/ — CytoSorbents Corporation (NASDAQ: CTSO), a critical care leader whose flagship E.U. approved CytoSorb® blood purification technology is intended to treat deadly conditions in critically-ill and cardiac surgery patients, announces that the U.S. Food and Drug Administration (FDA) has granted conditional approval of its investigational device exemption (IDE) application for the U.S. Safe and Timely Antithrombotic Removal – Ticagrelor (STAR-T) randomized, controlled trial.  Based on this conditional approval, study initiation activities, including clinical trial agreement negotiations and institutional review board (IRB) submissions, can now commence, putting the study ahead of the Company’s internal schedule.  The Company has already identified and pre-screened many high-quality U.S. clinical centers that have indicated strong interest to participate in the STAR-T trial.  The Company believes conditions for full IDE approval can be appropriately addressed within the 45-day timeframe outlined by the FDA, and once accepted, the Company expects to provide additional detail on the trial. 

FDA gives green light to CytoSorbents to begin U.S. STAR-T Trial designed to support U.S. FDA marketing submission

Dr. David Cox, Vice President of Global Regulatory of CytoSorbents stated, “We are pleased that the FDA has approved our randomized, controlled clinical trial for the removal of ticagrelor (Brilinta®,AstraZeneca) during cardiothoracic surgery to reduce perioperative bleeding complications.  We will promptly address FDA’s conditions of approval and finalize the IDE protocol to best support a U.S. marketing submission of our FDA Breakthrough Device technology for this application.” 

Mr. Vincent Capponi, President and Chief Operating Officer of CytoSorbents added, “We are very excited to have received the go ahead from the FDA to begin the STAR-T trial, that if successful, is expected to support our first U.S. FDA marketing submission.  In the future, we plan to leverage the alignment with FDA and the STAR-T study infrastructure, including the academic leadership, operational framework, and participating clinical trial sites to seek label expansions in antithrombotic removal beyond ticagrelor.  This IDE approval marks a key first step forward in our long-term U.S. commercialization strategy to become the de facto standard of care therapy to remove antithrombotic drugs, generically called blood thinners, during cardiothoracic surgery, with an estimated total addressable U.S. market of $1 billion.”

In April 2020, the FDA granted CytoSorbents Breakthrough Device Designation to remove ticagrelor during cardiothoracic surgery, recognizing this major unmet medical need.  Each year, ticagrelor is prescribed to millions of cardiovascular patients worldwide to reduce the risk of recurrent hearts attack, stroke or cardiovascular death. Ticagrelor is frequently preferred as first line therapy in patients presenting to hospitals with an acute coronary syndrome in preparation of percutaneous coronary intervention (PCI) and stent placement.  However, up to 10% of these patients will require coronary artery bypass graft (CABG) open heart surgery and as several clinical studies, such as the PLATO trial, have shown, they face a very high risk of severe or life-threatening bleeding during surgery. 

Mr. Capponi continued, “CytoSorbents’ blood purification technology offers a simple solution to mitigate bleeding risk by being placed in the cardiopulmonary bypass machine blood circuit to directly remove ticagrelor during cardiothoracic surgery.  We are working collaboratively with FDA under Breakthrough Device Designation to aggressively pursue this opportunity and address this major unmet clinical need.  This approval accelerates our internal timeline, and with the identification of clinical sites already completed, we are now in a position to move agressively forward with the execution of the STAR-T trial.”

About CytoSorbents Corporation (NASDAQ: CTSO)

CytoSorbents Corporation is a leader in critical care immunotherapy, specializing in blood purification. Its flagship product, CytoSorb® is approved in the European Union with distribution in 67 countries outside of the US, as an extracorporeal cytokine adsorber designed to reduce the “cytokine storm” or “cytokine release syndrome” that may result in massive inflammation, organ failure and death in common critical illnesses. These are conditions where the risk of death may be extremely high, yet no effective treatments exist.  CytoSorb® is also being used during and after cardiac surgery to remove inflammatory mediators that can lead to post-operative complications, including multiple organ failure. CytoSorb® has been used in more than 121,000 human treatments to date.  CytoSorb has received CE-Mark label expansions for the removal of bilirubin (liver disease), myoglobin (trauma), and both ticagrelor and rivaroxaban during cardiothoracic surgery.  CytoSorb has also received FDA Emergency Use Authorization in the United States for use in critically ill COVID-19 patients with imminent or confirmed respiratory failure, in defined circumstances.  CytoSorb has also been granted FDA Breakthrough Designation for the removal of ticagrelor in a cardiopulmonary bypass circuit during emergent and urgent cardiothoracic surgery.

CytoSorbents’ purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption. Its technologies have received non-dilutive grant, contract, and other funding of more than $38 million from DARPA, the U.S. Department of Health and Human Services (HHS), the National Institutes of Health (NIH), National Heart, Lung, and Blood Institute (NHLBI), the U.S. Army, the U.S. Air Force, U.S. Special Operations Command (SOCOM), Air Force Material Command (USAF/AFMC), and others. The Company has numerous products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and multiple applications pending, including ECOS-300CY™, CytoSorb-XL™, HemoDefend-RBC™, HemoDefend-BGA™, VetResQ™, K+ontrol™, DrugSorb™, ContrastSorb, and others.    For more information, please visit the Company’s websites at www.cytosorbents.com and www.cytosorb.com or follow us on Facebook and Twitter.

Forward-Looking Statements

This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as “may,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements in this press release represent management’s current judgment and expectations, but our actual results, events and performance could differ materially from those in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the risks discussed in our Annual Report on Form 10-K, filed with the SEC on March 9, 2021, as updated by the risks reported in our Quarterly Reports on Form 10-Q, and in the press releases and other communications to shareholders issued by us from time to time which attempt to advise interested parties of the risks and factors which may affect our business. We caution you not to place undue reliance upon any such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required under the Federal securities laws.


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Investor Relations Contact:

Amy Vogel

Investor Relations
(732) 398-5394
[email protected]

Public Relations Contact:

Eric Kim

Rubenstein Public Relations
212-805-3052
[email protected]

 

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SOURCE CytoSorbents Corporation

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Interpace Biosciences Raises Full Year 2021 Revenue Guidance

Parsippany, NJ, April 19, 2021 (GLOBE NEWSWIRE) — Interpace Biosciences, Inc. (“Interpace” or the “Company”) (OTCQX: IDXG) today announced an update to its full year 2021 revenue guidance originally provided on March 31, 2021.

“We saw increased and sustained clinical volume activity during the first quarter, which, coupled with our improved reimbursement rates translated into higher revenues overall for Interpace than initially forecasted,” said Thomas W. Burnell, CEO and President. “We now expect 2021full year revenue to be in the range of $42 to $44 million as compared to our prior guidance of $38 to $40 million provided at the time of our full year and fourth quarter 2020 earning’s announcement. This represents an approximate 30% to 36% improvement over our 2020 full year revenue.” Burnell added, “With the revenue growth and restructuring progressing as planned, expectations remain to achieve our goal of EBITDA break-even by the end of 2021. We will provide additional detail when we report the Company’s first quarter results in May.”

About Interpace Biosciences

Interpace Biosciences is an emerging leader in enabling personalized medicine, offering specialized services along the therapeutic value chain from early diagnosis and prognostic planning to targeted therapeutic applications.

Clinical services, through Interpace Diagnostics, provides clinically useful molecular diagnostic tests, bioinformatics and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. Interpace has five commercialized molecular tests and one test in a clinical evaluation process (CEP): PancraGEN® for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; PanDNA, a “molecular only” version of PancraGEN® that provides physicians a snapshot of a limited number of factors; ThyGeNEXT® for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; ThyraMIR® for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay; and RespriDX® that differentiates lung cancer of primary versus metastatic origin. In addition, BarreGEN®, a molecular based assay that helps resolve the risk of progression of Barrett’s Esophagus to esophageal cancer, is currently in a clinical evaluation program (CEP) whereby we gather information from physicians using BarreGEN® to assist us in gathering clinical evidence relative to the safety and performance of the test and also providing data that will potentially support payer reimbursement.

Pharma services, through Interpace Pharma Solutions, provides pharmacogenomics testing, genotyping, biorepository and other customized services to the pharmaceutical and biotech industries. Pharma services also advances personalized medicine by partnering with pharmaceutical, academic, and technology leaders to effectively integrate pharmacogenomics into their drug development and clinical trial programs with the goals of delivering safer, more effective drugs to market more quickly, while also improving patient care.

For more information, please visit Interpace Biosciences’ website at www.interpace.com.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to the Company’s future financial and operating performance. The Company has attempted to identify forward looking statements by terminology including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from those expressed or implied by any forward-looking statements including, but not limited to, the adverse impact of the COVID-19 pandemic on the Company’s operations and revenues, the substantial doubt about the Company’s ability to continue as a going concern, the
possibility that the Company’s estimates of future revenue may prove to be materially inaccurate, the Company’s history of operating losses, the Company’s ability to adequately finance its business, the Company’s ability to repay its $5M secured bridge loan, the Company’s dependence on sales and reimbursements from its clinical services, the Company’s ability to retain or secure reimbursement including its reliance on third parties to process and transmit claims to payers and the adverse impact of any delay, data loss, or other disruption in processing or transmitting such claims, the Company’s revenue recognition being based in part on estimates for future collections which estimates may prove to be incorrect, and the Company’s ability to remediate material weaknesses in internal controls. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the Securities and Exchange Commission , Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Contacts:

Investor Relations
Edison Group
Joseph Green/ Megan Paul
(646) 653-7030/7034
[email protected]/[email protected]



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RaySecur Welcomes Richard Shatilla as Chief Commercial Officer

Mr. Shatilla joins RaySecur after leading sales for VOTI Detection from startup through IPO

CAMBRIDGE, Mass., April 19, 2021 (GLOBE NEWSWIRE) — RaySecurTM, the leading provider of mail security scanners, announced today the appointment of Richard Shatilla to the position of Chief Commercial Officer, effective immediately. Mr. Shatilla will be responsible for leading the company’s commercial activities.

“Richard brings a wealth of experience in sales and marketing, product launch, and market access, to accelerate RaySecur’s growth and expansion in the enterprise security space,” said RaySecur’s Chief Executive Officer, Alexander Sappok, Ph.D. “Richard’s sales leadership at Xerox and most recently at VOTI Detection, taking the company from startup through IPO with over 2,000% revenue growth, is well-aligned with our strategy for broadly scaling our technology solutions within global Fortune 500 accounts.

Mr. Shatilla has a strong track record of success in the global security and technology industries, specifically, building out commercial capabilities, leading marketing and sales teams, and cultivating strong thought leader relationships across multiple specialties. His ability to streamline business operations from a security and automation perspective has served some of the largest enterprise customers and governments in the world and he will bring that experience with him to RaySecur. His 15 years of experience includes commercial leadership roles with VOTI Detection, Xerox, and Domaine Global Solutions.

About RaySecur

RaySecur™ is revolutionizing security imaging with the world’s first, scalable millimeter wave scanners and remote analysis and threat detection solutions. RaySecur’s flagship product, MailSecur™, is a desktop-sized scanner used by leading Fortune 500 companies, heads of state, and government agencies to detect threats in the mail. RaySecur and MailSecur are trademarks of RaySecur, Inc.

RaySecur Contact:

TJ Kelly, Marketing Director
+1 844-729-7328
[email protected]



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Centennial Resource Development, Inc. Announces First Quarter 2021 Earnings Conference Call

DENVER, April 19, 2021 (GLOBE NEWSWIRE) — Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) announced today that it will report first quarter 2021 financial and operating results after the market closes for trading on May 4, 2021. Management will host an earnings conference call on May 5, 2021 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (844) 348-0017, or (213) 358-0877 for international calls, (Conference ID: 7578513) at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on Centennial’s website or by phone at (855) 859-2056 (Conference ID: 7578513) for a seven-day period following the call.

About Centennial Resource Development, Inc.

Centennial Resource Development, Inc. is an independent oil and natural gas company focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets and operations, which are held and conducted through Centennial Resource Production, LLC, are concentrated in the Delaware Basin, a sub-basin of the Permian Basin. For additional information about the Company, please visit www.cdevinc.com. 

Contact:

Hays Mabry
Director, Investor Relations
(832) 240-3265
[email protected] 



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Taylor Morrison Releases Third Annual Environmental, Social and Governance (ESG) Report

Report captures homebuilder’s commitment to sustainability, people and communities

PR Newswire

SCOTTSDALE, Ariz., April 19, 2021 /PRNewswire/ — Guided by a commitment to integrating sustainable values into all aspects of its business, Taylor Morrison (NYSE: TMHC), the nation’s fifth largest homebuilder, has released its third annual Environmental, Social and Governance (ESG) Report. The report is centered on the company’s corporate responsibility pillars that are deep-rooted throughout the organization: a people-first culture, building for the future, and transparency and accountability.

“We build and develop communities that leave lasting impressions on people. With this enormous responsibility in mind, our story continues to evolve and extend beyond our product with our third annual ESG Report,” said Taylor Morrison Chairman and CEO Sheryl Palmer. “Each year, the report illustrates our impact in the communities we serve—from providing resources for local shelters to focusing philanthropy efforts on COVID-19 relief in 2020. This passion to serve others continues to be a source of pride and a reflection of the values that guide us.”

The publication highlights and celebrates major milestones Taylor Morrison made in 2020 despite the challenges brought forth during the COVID-19 pandemic, including:

  • Navigating COVID-19 with caution while putting the health and safety of Taylor Morrison team members, trade partners and customers first.
  • Doubling the impact of its conservation efforts in collaboration with the National Wildlife Federation by certifying nearly 4,000 acres of natural wildlife habitat in 75 communities nationwide to date.
  • Unveiling TMLiveWell™, a suite of products and technologies that promote healthier air, cleaner water and safer paint—standard in all new Taylor Morrison homes, that complement its long-standing commitment to high-quality building standards and eco-friendly design options.
  • Building a range of housing solutions to address the record number of individuals experiencing homelessness through a partnership with HomeAid America.
  • Furthering its commitment to gender diversity in the workplace while working to increase racial and ethnic diversity, starting with recruitment initiatives and Sheryl Palmer’s recent signing of the CEO Action Pledge.
  • Helping promote a sustainable workforce and pioneering new internship programs to address the trade labor shortage in the homebuilding industry through a partnership with the Building Talent Foundation.
  • Cultivating its people-first culture, TMLiving, through transparent communication and support of team member health and wellness, engagement, and training and development.
  • Embracing new virtual homebuying technologies to safely serve customers while paving the way for future innovations.

With this report, Taylor Morrison has made substantial progress in providing transparency on its ESG practices as defined by the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and the U.N. Sustainable Development Goals (UNSDGs). This year, the homebuilder expanded its disclosure to encompass ESG activities related to its responsible land use practices, commitment to superior construction quality, robust health and safety procedures and support of accessible homeownership.

Taylor Morrison’s full 2020 ESG Report can be accessed here.

About Taylor Morrison

Taylor Morrison Home Corporation (NYSE: TMHC) is the nation’s fifth largest homebuilder and developer based in Scottsdale, Arizona, that has been recognized as America’s Most Trusted® Home Builder for six years running (2016-2021). Operating under a family of brands including Taylor Morrison, Darling Homes, William Lyon Signature Home and Christopher Todd Communities built by Taylor Morrison, we serve consumer groups coast to coast, from first-time to move-up, luxury and 55-plus buyers. Our unwavering pledge to sustainability, our communities and our team—outlined in the 2020 Environmental, Social and Governance (ESG) Report—extends to designing thoughtful living experiences homeowners can be proud of for generations to come.

CONTACT: Alice Giedraitis
(480) 840-8137
[email protected]

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SOURCE Taylor Morrison