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KBR Expands Support to UK Naval Defence

PR Newswire

HOUSTON, April 12, 2021 /PRNewswire/ — KBR (NYSE: KBR) is expanding its presence in the UK naval defense sector with a new five year $470m contract to bring transformational change to the delivery of infrastructure services at HM Naval Base Portsmouth.

KBR, working in a joint venture with BAE Systems, under the name KBS Maritime, will deliver ambitious, modern and enduring change to the Portsmouth base, securing investment in the local community and ensuring fit-for-purpose, world-leading support for the Royal Navy over the next five years. 

As part of the UK Ministry of Defence’s (MOD) Future Maritime Support Programme (FMSP) – covering the management of naval bases in Portsmouth, Clyde and Devonport – the newly formed JV will provide technology-led and data-driven facilities management and dockside services at the base.

“This successful award is testament to the innovative proposition by two world-leading organizations that have a proud history of supporting UK defense,” said Stuart Bradie, KBR President and CEO. “The strength of this partnership aligns with our ambitions to expand our digital capabilities into the defense sector at all levels, with a focus on efficiency and sustainability to both the MOD and the public.”

KBR continues to expand its naval base support and wider breadth of capabilities into the UK MOD. In February, it announced a key contract to support delivery of a major naval infrastructure program at HM Clyde Naval Base in Scotland. KBR will support the delivery of Management Services, helping extend the design life of key facilities and maintain operations.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 people worldwide with customers in more than 80 countries and operations in 40 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com  

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company’s control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic; the company’s ability to respond to the challenges and business disruption presented by the COVID-19 pandemic; the recent dislocation of the global energy market; the company’s ability to realize cost savings and efficiencies relating to the streamlining of its Energy Solutions business; the company’s ability to manage its liquidity; the company’s ability to continue to generate anticipated levels of revenue, profits and cash flow from operations during the COVID-19 pandemic and any resulting economic downturn; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company’s indemnities from its former parent; changes in capital spending by the company’s customers, including as a result of the COVID-19 pandemic; the company’s ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company’s ability to control its cost under its contracts; claims negotiations and contract disputes with the company’s customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/kbr-expands-support-to-uk-naval-defence-301265978.html

SOURCE KBR, Inc.

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CyberOptics Receives $1.8 Million Order for 3D MX3000™ Systems

CyberOptics Receives $1.8 Million Order for 3D MX3000™ Systems

MINNEAPOLIS–(BUSINESS WIRE)–
CyberOptics Corporation (Nasdaq: CYBE), a leading global developer and manufacturer of high precision sensing technology solutions, today announced that it has received another new order from a recurring customer valued at $1.8 million for its MX3000 memory module inspection systems, powered by Multi-Reflection Suppression™ (MRS™) sensors. These final vision inspection (FVI) systems are expected to be recognized as revenue in the second half of 2021.

As previously reported, CyberOptics will release its operating results for the first quarter of 2021 on April 27th after market close.

About CyberOptics

CyberOptics Corporation (www.cyberoptics.com) is a leading global developer and manufacturer of high-precision 3D sensing technology solutions. CyberOptics’ sensors are used for inspection and metrology in the SMT and semiconductor markets to significantly improve yields and productivity. By leveraging its leading edge technologies, the Company has strategically established itself as a global leader in high precision 3D sensors, allowing CyberOptics to further increase its penetration of key vertical markets. Headquartered in Minneapolis, Minnesota, CyberOptics conducts worldwide operations through its facilities in North America, Asia and Europe.

Statements regarding the Company’s anticipated performance are forward-looking and therefore involve risks and uncertainties, including but not limited to: a possible world-wide recession or depression resulting from the economic consequences of the COVID-19 pandemic; the negative effect on our revenue and operating results of the COVID-19 crisis on our customers and suppliers and the global supply chain; market conditions in the global SMT and semiconductor capital equipment industries; trade relations between the United States and China and other countries; the timing of orders and shipments of our products, particularly our 3D MRS™ SQ3000 Multi-Function systems™ and MX systems for memory module inspection; increasing price competition and price pressure on our product sales, particularly our SMT systems; the level of orders from our OEM customers; the availability of parts required to meet customer orders; unanticipated product development challenges; the effect of world events on our sales, the majority of which are from foreign customers; rapid changes in technology in the electronics and semiconductor markets; product introductions and pricing by our competitors; the success of our 3D technology initiatives; the market acceptance of our SQ3000 Multi-Function™ inspection and measurement systems and products for semiconductor advanced packaging inspection and metrology; costly and time consuming litigation with third parties related to intellectual property infringement; the negative impact on our customers and suppliers due to past and future terrorist threats and attacks and any acts of war; the impact of the MX3000™ orders on our consolidated gross margin percentage in any future period; risks related to cancellation or renegotiation of orders we have received; and other factors set forth in the Company’s filings with the Securities and Exchange Commission.

Jeffrey A. Bertelsen, Chief Financial Officer

763-542-5000

Carla Furanna, Vice President of Global Marketing

952-820-5837

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Semiconductor Hardware Manufacturing Other Manufacturing Technology

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A Year Into COVID-19, Global Study Reveals IT Leaders Have Increasing Impact on Employee Experience and Business Resilience

A Year Into COVID-19, Global Study Reveals IT Leaders Have Increasing Impact on Employee Experience and Business Resilience

New Study from Elastic Shows IT Leaders Believe Empowering, Inspiring, and Enabling Employees to Work Flexibly and Remotely Will Improve Resilience, Competitive Advantage, and Scale in Times of Disruption

  • 60% of IT organizations are investing in improving employee experience to support remote workforce productivity and performance.
  • But, 57% of IT leaders globally have seen their budgets cut over the past 12 months, with 35% experiencing budget cuts of 10% or more.
  • Only 40% of IT leaders report they have the right tools, policies, and procedures to support a remote workforce.
  • To amplify impact on employee experience, 57% of IT leaders are collaborating more closely with their HR counterparts.

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch and the Elastic Stack, today announced a new study that shows employee experience has become a new priority for IT leaders as they reinvent their infrastructures to support remote workforces. The commissioned study titled The Changing Role of the IT Leader was conducted by Forrester Consulting on behalf of Elastic in February 2021, one year into the global pandemic, and published in April. The study can be downloaded here.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005230/en/

A year into COVID-19: IT leaders have increasing impact on employee experience (Graphic: Business Wire)

A year into COVID-19: IT leaders have increasing impact on employee experience (Graphic: Business Wire)

Based on a survey of 1,000 CIOs and IT leaders in 10 countries1, the study illustrates that an adaptive business model with employee experience at its core is the key to building business resilience, creating a sustainable competitive advantage, and scaling effectively in times of disruption.

Since the start of the COVID-19 pandemic, the shift to remote and hybrid working models has become a permanent fixture for many global organizations. Nearly 60% of IT leaders believe that enabling employees to work flexibly will improve the adaptiveness of their organizations and they are investing in technology to improve employee experience and productivity.

Globally, the partnership between IT and HR is growing stronger, with 57% of IT leaders collaborating more closely with their HR counterparts since the start of the pandemic.

While many IT leaders worldwide have pivoted to an employee-centric approach in their technology decisions, they still face barriers to establish an environment where IT fosters engagement and productivity.

IT leaders report that 92% of organizations worldwide are in survival or maintenance mode.

  • In Asia-Pacific, China (21%) and Japan (16%) are leading with the highest number of enterprises in growth mode, while Australia (78%) has the highest number of enterprises in maintenance mode.
  • In Europe, the Netherlands (64%) and Germany (60%) are struggling most, with the highest number of enterprises in survival mode, and 3 in 5 IT leaders in the surveyed countries said their businesses are fighting to survive.
  • In North America only 7% of enterprises are in growth mode, while three times that number are in survival mode.

60% of IT organizations are investing in improving employee experience to support remote workforce productivity and performance, but don’t have access to the budget and tools to do so.

  • 63% of organizations are prioritizing a shift to digital business by focusing on democratizing employee access to data by evolving their data architectures to reduce data silos.
  • 57% of IT leaders globally have seen their budgets cut over the past 12 months, with 33% experiencing budget cuts of 10% or more.
  • 60% of IT leaders do not yet have the right tools, policies, and procedures to support a remote workforce.

Find more information and view the full findings from the Changing Role of the IT Leader study here.

Supporting Quotes:

  • “One year into the COVID-19 global pandemic, the data shows it’s time for IT leaders to put employee experience at the heart of every technology decision they make,” said Kim Huffman, VP, IT, Elastic. “They must quickly and dramatically evolve and accelerate their programs as they work to support their employees and adapt to the next normal and a completely different way of working.”
  • “A deep partnership between HR and IT leaders is crucial when it comes to enhancing employee experience, and that partnership has never been more important than it was over the past year,” said Leah Sutton, SVP, Global Human Resources, Elastic. “The combined insight and expertise that both leaders bring ensure that employees aren’t bouncing around from IT, to HR, to finance, and more. Rather, employees have a holistic corporate experience that ensures they are supported, informed, and empowered with access to the tools and resources they need to successfully do their jobs.”

Methodology

For this study, “The Changing Role of the IT Leader” (April 2021) – commissioned by Elastic – Forrester Consulting conducted a global online survey of 1,000 CIOs and IT decision-makers and select in-depth interviews with CIOs and IT leaders in Australia, China, France, Germany, India, Japan, the Netherlands, North America, Singapore, and the United Kingdom.

About Elastic:

Elastic is a search company built on a free and open heritage. Anyone can use Elastic products and solutions to get started quickly and frictionlessly. Elastic offers three solutions for enterprise search, observability, and security, built on one technology stack that can be deployed anywhere. From finding documents to monitoring infrastructure to hunting for threats, Elastic makes data usable in real time and at scale. Thousands of organizations worldwide, including Cisco, eBay, Goldman Sachs, Microsoft, The Mayo Clinic, NASA, The New York Times, Wikipedia, and Verizon, use Elastic to power mission-critical systems. Founded in 2012, Elastic is a distributed company with Elasticians around the globe and is publicly traded on the NYSE under the symbol ESTC. Learn more at elastic.co.

The release and timing of any features or functionality described in this document remain at Elastic’s sole discretion. Any features or functionality not currently available may not be delivered on time or at all.

Elastic and associated marks are trademarks or registered trademarks of Elastic N.V. and its subsidiaries. All other company and product names may be trademarks of their respective owners.

Elastic Public Relations

Chloe Guillemot

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Data Management Consumer Electronics Technology Professional Services Security Software Networks Internet Mobile/Wireless Human Resources Hardware

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A year into COVID-19: IT leaders have increasing impact on employee experience (Graphic: Business Wire)
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Avaya’s “Life and Work Beyond 2020” Survey Reveals Organizations Play Key Role in Individuals’ Well-Being

Avaya’s “Life and Work Beyond 2020” Survey Reveals Organizations Play Key Role in Individuals’ Well-Being

Workplace flexibility, customer interactions that delight now prized by employees and customers

RALEIGH-DURHAM, N.C.–(BUSINESS WIRE)–Avaya (NYSE: AVYA), a global leader in solutions to enhance and simplify communications and collaboration, today released the results of a new survey, “Life and Work Beyond 2020: The Change Makers,” examining how attitudes and feelings toward home and work life have changed over the last year. The Avaya survey uncovers a significant happiness gap, with only 27% of respondents saying they were happier in 2020 and 43% saying they were less happy. The survey also reveals that organizations have the power to increase well-being, with 56% saying hybrid work has the potential to improve their well-being and 79% saying that when engaging with an organization’s contact center, they expect agents to do everything possible to make them happy.

Digital transformation and the pandemic have created lasting change in how we want to work and shop. As workers, we want a hybrid work environment that offers more choice and eliminates an inflexible daily grind. As consumers, we want to interact with businesses through the channels we prefer, and we expect in-the-moment responsiveness to address our unique needs. Businesses that want to meet these changing dynamics require composable solutions that let them build the ideal communications and collaboration environment for managing distributed teams and empowering these teams to delight customers.

“Avaya’s ‘Life and Work Beyond 2020’ survey presents a compelling case that organizations today play a critical role in our well-being, both as employers and service providers,” said Simon Harrison, Chief Marketing Officer, Avaya. “The question is, how can businesses enable hybrid work while ensuring employees have the tools they need to consistently delight customers? Avaya OneCloud is a composable communication and collaboration platform that enables businesses to bridge employee and customer experiences, with fluid, seamless engagement no matter where employees are working while empowering them to quickly create and deliver memorable experiences in the moment.”

Key Takeaways from Avaya’s “Life and Work Beyond 2020” Survey

Our sources of happiness are changing – and many are less happy

According to the survey, the unsurprising top sources of decreased happiness in 2020 include the COVID-19 pandemic (82%), less face-to-face contact with others (68%) and money worries (64%). However, among the 27% of respondents whose happiness increased, the top reasons included some surprises, including flexibility in deciding where to work (62%) and more work from home & bosses trusting workers (57%).

Work needs flexibility

The desire for more work flexibility is underscored by the fact that across all respondents, 46% feel trapped in a daily routine and 43% are struggling to find the right work-life balance. Further, 56% think that hybrid work will have the potential to improve their well-being, and 60% would support government policies that embrace hybrid working.

Changed values are reshaping how we shop

Honesty, respect and optimism are now top values, and 69% of respondents say they actively (33%) or sometimes (36%) choose organizations, including banks, retailers, utilities, healthcare providers, and telecom providers, that reflect their values. More than 1 out of 2 prefer a mix of ways to contact organizations, including a phone number on every webpage or app (69%) and more help available on websites (57%). Nearly half of respondents (47%) say convenience is more important than price.

Organizations have a big impact on our well-being

The impact of organizations on well-being is huge, with 71% of respondents saying customer service problems cause them a great deal (28%) or a considerable amount (43%) of stress. A full 79% expect organization contact centers to do everything possible to make them a happy customer, but only 13% say organizations always make them feel good after an interaction and only 8% say they are regularly delighted by their interactions.

The survey, conducted in November 2020, is based on interviews with 10,000 consumers and workers in a variety of markets around the world, including Austria, Canada, Egypt, France, Germany, India, Saudi Arabia, Switzerland, UAE, the UK and the U.S.

Additional Resources

About Avaya

Businesses are built by the experiences they provide, and everyday millions of those experiences are delivered by Avaya Holdings Corp. (NYSE: AVYA). Avaya is shaping what’s next for the future of work, with innovation and partnerships that deliver game-changing business benefits. Our cloud communications solutions and multi-cloud application ecosystem power personalized, intelligent, and effortless customer and employee experiences to help achieve strategic ambitions and desired outcomes. Together, we are committed to help grow your business by delivering Experiences that Matter. Learn more at http://www.avaya.com/

Cautionary Note Regarding Forward-Looking Statements

This document contains certain “forward-looking statements.” All statements other than statements of historical fact are “forward-looking” statements for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. The factors are discussed in the Company’s Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) available at www.sec.gov, and may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The Company cautions you that the list of important factors included in the Company’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this press release may not in fact occur. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

All trademarks identified by ®, TM, or SM are registered marks, trademarks, and service marks, respectively, of Avaya Inc. All other trademarks are the property of their respective owners.

Source: Avaya Newsroom

For media inquiries:

Alex Alias

[email protected]

KEYWORDS: United States North America North Carolina

INDUSTRY KEYWORDS: Mental Health Technology General Health Professional Services Consumer Other Communications Health Other Technology Telecommunications Communications Software Networks Other Professional Services Internet Other Consumer Human Resources Data Management

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Fresh Del Monte Produce to Report First Quarter 2021 Financial Results

Fresh Del Monte Produce to Report First Quarter 2021 Financial Results

CORAL GABLES, Fla.–(BUSINESS WIRE)–
Fresh Del Monte Produce Inc. (NYSE: FDP), today announced that it will issue a press release on its first quarter 2021 results prior to the market opening on Wednesday, May 5, 2021 and will host its quarterly conference call that day at 10:00 a.m. Eastern Time to discuss the Company’s financial results. Hosting the call for the Company will be Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer; Eduardo Bezerra, Senior Vice President and Chief Financial Officer; and Christine Cannella, Vice President, Investor Relations.

Interested parties are invited to participate by visiting the Investor Relations page of the Fresh Del Monte website at www.freshdelmonte.com. The call will begin at 10:00 a.m. Eastern Time. Institutional investors, analysts and other members of the financial community are invited to listen to the call and participate in the question and answer session by dialing 833-968-2221 (Domestic/Toll Free) or 825-312-2052 (International) and entering Passcode: 7196112. An audio replay of the conference call will be available on the Company’s website approximately two hours after the conclusion of the call for a period of one year.

About Fresh Del Monte Produce Inc.

Fresh Del Monte is one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa and the Middle East. Fresh Del Monte markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness and reliability for over 125 years. The Company also markets its products under the MANNTM brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd.

Christine Cannella

Vice President, Investor Relations

305-520-8433

KEYWORDS: Florida United States North America

INDUSTRY KEYWORDS: Retail Agriculture Natural Resources Food/Beverage

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AngioDynamics Submits 510(k) Application to FDA for AlphaVac Mechanical Thrombectomy System

AngioDynamics Submits 510(k) Application to FDA for AlphaVac Mechanical Thrombectomy System

Thrombectomy Device with Off-Circuit Mechanical Aspiration Design for Treatment of Undesirable Intravascular Material in Venous System and Peripheral Vasculature

LATHAM, N.Y.–(BUSINESS WIRE)–
AngioDynamics, Inc. (NASDAQ: ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, peripheral vascular disease, and oncology today announced that on April 9, 2021, it submitted a 510(k) application to the United States Food and Drug Administration (FDA) for the AlphaVac System, an off-circuit, multi-purpose mechanical aspiration thrombectomy device for the treatment of undesirable intravascular material in the venous system and peripheral vasculature.

The AlphaVac System combines two of AngioDynamics’ proprietary technologies: a new mechanical aspiration handle and the Company’s innovative self-expanding funnel tip and is designed to provide precise control in the removal of clot burden while minimizing patient blood loss. Undesirable intravascular material can include thrombus, embolus, and vegetation found in a patient’s venous system, including the peripheral vasculature.

“We are excited to announce this important milestone in the ongoing transformation of our portfolio,” said Jim Clemmer, President and Chief Executive Officer of AngioDynamics. “Our team developed AlphaVac in collaboration with leading physicians to enable treatment in more cases without the need for perfusion while providing control, power and versatility to drive positive patient outcomes. AlphaVac expands our thrombus management portfolio allowing us to serve a larger, fast-growing segment of the thrombectomy market and we’re confident it will become a go-to treatment option for physicians.”

AngioDynamics anticipates the release of the AlphaVac System in the second half of calendar year 2021, subject to FDA clearance.

About AngioDynamics, Inc.

AngioDynamics, Inc. is a leading provider of innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, peripheral vascular disease, and oncology. AngioDynamics’ diverse product lines include market-leading ablation systems, vascular access products, angiographic products and accessories, drainage products, thrombolytic products and venous products. For more information, visit www.angiodynamics.com.

AngioDynamics and AlphaVac are trademarks and/or registered trademarks of AngioDynamics, Inc., an affiliate or subsidiary.

Investor Relations:

AngioDynamics, Inc.

Stephen Trowbridge

518-795-1408

[email protected]

Media:

AngioDynamics, Inc.

Saleem Cheeks

518-795-1174

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Biotechnology FDA Medical Devices Health Oncology

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C4 Therapeutics Presents Preclinical Data on CFT7455, a Novel IKZF1/3 Degrader for the Treatment of Hematologic Malignancies, at the AACR Annual Meeting 2021

– CFT7455 Demonstrated High Cereblon Binding Affinity and Rapid, Deep IKZF1/3 Degradation Enabling Activity across a Panel of Multiple Myeloma Cell Lines Including IMiD-Resistant Models –

– CFT7455 Promotes Sustained Degradation of IKZF1/3 and Durable Anti-tumor Response, Including Regressions in an IMiD-Insensitive Myeloma Tumor Xenograft Model –

– CFT7455 Phase 1/2 Trial in Multiple Myeloma and Non-Hodgkin Lymphomas 
On Track for 1H 2021 Initiation –

WATERTOWN, Mass., April 10, 2021 (GLOBE NEWSWIRE) — C4 Therapeutics, Inc. (C4T) (Nasdaq: CCCC), a biopharmaceutical company pioneering a new class of small-molecule medicines that selectively destroy disease-causing proteins through degradation, today presented preclinical data for CFT7455, the Company’s lead program, a MonoDACTM degrader targeting IKZF1/3 for the treatment of hematologic malignancies. These results, which support clinical evaluation of CFT7455 in multiple myeloma, were delivered as a late-breaking oral presentation during the first session of the American Association for Cancer Research (AACR) Annual Meeting 2021.

“IKZF1/3 proteins are critical dependencies of B cell malignancies including multiple myeloma and subsets of non-Hodgkin’s lymphoma,” said Stewart Fisher, Ph.D., chief scientific officer of C4 Therapeutics. “We are pleased to share preclinical data demonstrating that potent catalytic IKZF1/3 degradation activity of CFT7455, coupled with optimized pharmacological properties, can result in regression of multiple myeloma xenograft tumors not responsive to approved IMiD therapies. We are optimistic that the in vitro and in vivo data we saw preclinically will translate into improved, clinically meaningful outcomes for patients and we look forward to initiating our CFT7455 Phase 1/2 clinical trial in the first half of this year.”

Summary of Results

C4T conducted in vitro studies to confirm CFT7455’s intended mechanism. Notable observations include:

  • CFT7455 binds with high affinity to the E3 ligase adapter protein, cereblon (Kd = 0.9 nM);
  • In vitro, CFT7455 treatment results in deep, rapid degradation of IKZF1/3 proteins, resulting in apoptotic cell death; and
  • CFT7455 demonstrated broad, potent anti-proliferative activity in a panel of multiple myeloma cell lines.

In mouse xenograft models of IMiD-insensitive multiple myeloma, data further established CFT7455 as a highly potent, catalytic degrader of IKZF1/3, capable of generating anti-tumor activity as a single agent and in combination with dexamethasone. Notable observations include:

  • In the H929 myeloma xenograft tumor model, daily oral administration of CFT7455 at 0.1 mg/kg for three weeks led to partial or complete tumor regression, with the latter being durable even after stopping treatment.
  • CFT7455 produced deep and durable degradation of IKZF3 in the RPMI-8226 myeloma xenograft tumor model, which is relatively insensitive to pomalidomide. Tumor regression resulted from treatment with CFT7455 in both naïve RPMI-8226 tumors, as well as those previously exposed, but unresponsive, to pomalidomide.
  • The combination of CFT7455 and dexamethasone in the RPMI-8226 tumor xenograft model yielded expected improvements in efficacy and survival outcomes in mice bearing RPMI-8226 xenograft tumors, compared to either agent used alone.

Based in part on these results, C4T plans to explore the therapeutic applications of CFT7455 for the treatment of relapsed or refractory multiple myeloma and non-Hodgkin’s lymphomas and expects to initiate a Phase 1/2 clinical study of CFT7455 in the first half of 2021.

C4T’s AACR Annual Meeting 2021 presentation will be archived on the “Scientific Publications” page in the Investors section of the Company’s website, located at www.c4therapeutics.com.

About CFT7455

CFT7455 is an orally bioavailable MonoDAC™ (Monofunctional Degradation Activating Compound) degrader designed to bind with high affinity to the E3 ligase adapter protein, cereblon, to target and degrade IKZF1/3 for the treatment of hematologic malignancies such as multiple myeloma and non-Hodgkin’s lymphoma, including peripheral T cell lymphoma and mantle cell lymphoma. In preclinical studies, CFT7455 has demonstrated potent and selective protein degradation with favorable pharmacological properties.

About C4 Therapeutics

C4 Therapeutics (C4T) is a biopharmaceutical company focused on harnessing the body’s natural regulation of protein levels to develop novel therapeutic candidates to target and destroy disease-causing proteins for the treatment of cancer and other diseases. This targeted protein degradation approach offers advantages over traditional therapies, including the potential to treat a wider range of diseases, reduce drug resistance, achieve higher potency, and decrease side effects through greater selectivity. To learn more about C4 Therapeutics, visit www.C4Therapeutics.com.

Forward-Looking Statements

This press release contains “forward-looking statements” of C4 Therapeutics, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but may not be limited to, express or implied statements regarding our ability to develop potential therapies for patients; the design and potential efficacy or safety profile of our therapeutic approaches; the potential timing, design and advancement of our preclinical studies and clinical trials, including the potential timing for regulatory authorization related to clinical trials; our ability and the potential to successfully manufacture and supply our product candidates for clinical trials; our ability to replicate results achieved in our preclinical studies or clinical trials in any future studies or trials; our current resources and cash runway; and regulatory developments in the United States and foreign countries. Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: uncertainties related to the initiation, timing and conduct of preclinical and clinical studies and other development requirements for our product candidates and the risk that the results of preclinical studies and/or clinical trials will or will not be predictive of future results in connection with future studies or trials. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in C4 Therapeutics’ most recent Annual Report on Form 10-K and/or Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and C4 Therapeutics undertakes no duty to update this information unless required by law.



Investor & Media Contact
Kendra Adams
SVP, Communications & Investor Relations
[email protected]

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ROSEN, A GLOBALLY RECOGNIZED LAW FIRM, Encourages Athenex, Inc. Investors to Secure Counsel Before Important May 3 Deadline – ATNX

NEW YORK, April 10, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Athenex, Inc. (NASDAQ: ATNX) between August 7, 2019 and February 26, 2021, inclusive (the “Class Period”), of the important May 3, 2021 lead plaintiff deadline.

SO WHAT: If you purchased Athenex securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Athenex class action, go to http://www.rosenlegal.com/cases-register-2051.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 3, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the data included in the Oral Paclitaxel and Encequidar New Drug Application (“NDA”) presented a safety risk to patients in terms of an increase in neutropenia-related sequalae; (2) the uncertainty over the results of the primary endpoint of objective response rate (“ORR”) at week 19 conducted by blinded independent central review (“BICR”); (3) the BICR reconciliation and re-read process may have introduced unmeasured bias and influence on the BICR; (4) Athenex’s Phase 3 study that was used to file the NDA was inadequate and not well-conducted in a patient population with metastatic breast cancer representative of the U.S. population, such that the FDA would recommended a new such clinical trial; (5) as a result, it was foreseeable that the FDA would not approve Athenex’s NDA in its current form; and (6) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Athenex class action, go to http://www.rosenlegal.com/cases-register-2051.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        [email protected]
        [email protected]
        www.rosenlegal.com



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Mirati Therapeutics Presents Preclinical Data on Novel Approach to PRMT5 Inhibition that Selectively Targets the PRMT5/MTA Complex in MTAP-Deleted Cancer Models

Internally discovered PRMT5 program represents a potential first-in-class approach to specifically target MTAP-deleted tumors

Anticipate filing an Investigational New Drug application in the first half of 2022

PR Newswire

SAN DIEGO, April 10, 2021 /PRNewswire/ — Mirati Therapeutics, Inc. (NASDAQ: MRTX), a late-stage targeted oncology company, today announced initial preclinical results evaluating its investigational synthetic lethal PRMT5 inhibitor in methylthioadenosine phosphorylase (MTAP)-deleted cancer models. Mirati’s internally discovered PRMT5 compound is the first to specifically target the PRMT5/methylthioadenosine (MTA) complex. This approach is designed to leverage elevated levels of MTA in cancers exhibiting an MTAP deletion and to selectively kill cancer cells harboring this genetic alteration. The results were presented today during a late-breaking minisymposium at the 2021 American Association for Cancer Research (AACR) Virtual Annual Meeting [Abstract # LB003].

Preclinical results showed that the Mirati PRMT5 compound bound selectively to the PRMT5/MTA complex and demonstrated a greater than 100-fold selectivity for MTAP-deleted cells compared with cells that do not exhibit this genetic defect in both proliferation and mechanistic assays. This selectivity for the PRMT5/MTA complex and MTAP-deleted cancer cells allows for the selective targeting of cancer cells while sparing healthy cells, which are also dependent on PRMT5 for cell growth and survival. In addition, treatment of MTAP-deleted tumor xenograft-bearing mice with the Mirati PRMT5 compound resulted in halted tumor growth and near complete reduction of symmetric dimethylarginine (SDMA), a biomarker of PRMT5 activity, at well-tolerated dose levels.  

“We are proud to have a potential first-in-class therapeutic agent to specifically target the PRMT5/MTA complex in MTAP-deleted cancer cells,” said James Christensen, Ph.D., executive vice president and chief scientific officer, Mirati Therapeutics, Inc. “Based on discoveries made by Mirati scientists, we have designed a novel approach to specifically bind to and inhibit PRMT5 in complex with MTA. With this approach, we are able to target MTAP-deleted tumors, which should result in an improved therapeutic index relative to known PRMT5 and MAT2A inhibitors.”

About PRMT5 Inhibition in MTAP-deleted Cancers

PRMT5 is an enzyme critical to the survival of both healthy and cancer cells and is partially inhibited by MTA, which accumulates in MTAP-deleted cancers. The MTAP deletion is present in approximately 10 percent of all cancers and is the most frequently observed gene deletion event (MTAP/CDKN2A) across several cancer types. Cancers with an MTAP deletion, such as pancreatic, lung, and bladder cancers, are associated with a poor prognosis, representing a significant unmet medical need.

Activated PRMT5 is crucial for the regulation of cellular processes essential for cell survival, including regulation of RNA splicing, gene expression and protein translation. In MTAP-deleted cancer cells, the inhibitory cofactor MTA accumulates and binds to PRMT5.  Mirati’s PRMT5 compound selectively targets the PRMT5/MTA complex in MTAP-deleted cancer cells while sparing healthy cells. The Mirati PRMT5 compound is advancing toward an Investigational New Drug (IND) filing in the first half of 2022.

About Mirati Therapeutics

Mirati Therapeutics is a late-stage biotechnology company whose mission is to discover, design and deliver breakthrough therapies to transform the lives of patients with cancer and their loved ones. The company is relentlessly focused on bringing forward therapies that address areas of high unmet need, including lung cancer, and advancing a pipeline of novel therapeutics targeting the genetic and immunological drivers of cancer. Mirati is using its scientific expertise to develop novel solutions in two registration-enabling programs: adagrasib (MRTX849), an investigational small molecule, potent and selective KRAS G12C inhibitor, as monotherapy and in combination with other agents, and sitravatinib, an investigational spectrum-selective inhibitor of receptor tyrosine kinases in combination with checkpoint inhibitor therapies. Mirati is also advancing its differentiated preclinical portfolio, including MRTX1133, an investigational KRAS G12D inhibitor, and other oncology discovery programs. Unified for patients, Mirati’s vision is to unlock the science behind the promise of a life beyond cancer.

For more information about Mirati Therapeutics, visit us at Mirati.com or follow us on Twitter and LinkedIn.  

Forward Looking Statements

This press release contains forward-looking statements regarding the business of Mirati Therapeutics, Inc. (“Mirati”). Any statement describing Mirati’s goals, expectations, financial or other projections, intentions or beliefs, development plans and the commercial potential of Mirati’s drug development pipeline, including without limitation adagrasib (MRTX849), sitravatinib and MRTX1133, is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to risks and uncertainties, particularly those challenges inherent in the process of discovering, developing and commercialization of new drug products that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs.

Mirati’s forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Mirati’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Mirati. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Mirati’s programs are described in additional detail in Mirati’s quarterly reports on Form 10-Q and annual reports on Form 10-K, which are on file with the U.S. Securities and Exchange Commission (the “SEC”) available at the SEC’s Internet site (www.sec.gov).These forward-looking statements are made as of the date of this press release, and Mirati assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. 

Mirati Contacts
Investor Relations
Temre Johnson
(858) 332-3562
[email protected]

Media Relations
Priyanka Shah
(908) 447-6134
[email protected]

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mirati-therapeutics-presents-preclinical-data-on-novel-approach-to-prmt5-inhibition-that-selectively-targets-the-prmt5mta-complex-in-mtap-deleted-cancer-models-301266155.html

SOURCE Mirati Therapeutics, Inc.

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MPLN INVESTOR REMINDER:  Kessler Topaz Meltzer & Check, LLP Announces Deadline in Securities Fraud Class Action Lawsuit Filed Against MultiPlan Corporation

RADNOR, Pa., April 10, 2021 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP announces deadline in securities fraud class action lawsuit filed in the United States District Court for the Southern District of New York against MultiPlan Corporation (NYSE:  MPLN; MPLN.WS) (“MultiPlan”) f/k/a Churchill Capital Corp. III (“Churchill III”) on behalf of: (1) those who purchased or acquired MultiPlan securities between July 12, 2020 and November 10, 2020, inclusive (the “Class Period”); and (2) all holders of Churchill III Class A common stock entitled to vote on Churchill III’s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries consummated in October 2020 (the “Merger”).


Deadline Reminder:  Investors who purchased or acquired MultiPlan securities


during the Class Period may, no later than April 26, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP:  James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at


[email protected]
; orclick https://www.ktmc.com/multiplan-corp-securities-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=multiplan.

Churchill III was formed in October 2019 as a special purpose acquisition vehicle.  On February 14, 2020, Churchill III completed its initial public offering, selling 110 million ownership units to investors for gross proceeds of $1.1 billion (the “IPO”).  Pursuant to the IPO prospectus, Churchill III was required to acquire a target business with an aggregate fair market value of at least 80% of the assets held in trust from the IPO proceeds and to do so within two years of the IPO.

The Class Period commences on July 12, 2020, when Churchill III and MultiPlan, a healthcare cost specialist, issued a joint press release announcing their agreement to combine. The Merger, initially valued at $5.7 billion, would be funded by the IPO proceeds as well as billions of dollars in new debt and equity issuances.

On September 18, 2020, Churchill III issued the proxy statement for the Merger which urged shareholders to vote in favor of the deal (the “Proxy”). The Proxy stated that Churchill had identified MultiPlan as a potential acquisition target soon after the IPO. On the basis of the Proxy, on October 7, 2020, shareholders voted to approve the Merger at a special shareholders meeting. Because of the Proxy, shareholders were prevented from the fully informed opportunity to redeem their shares as was their right. The shares subject to redemption were valued in the Proxy at approximately $10 per share.

On November 11, 2020, one month after the close of the Merger, Muddy Waters published a report on Churchill III titled “MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab”, which was based on extensive non-public sources such as interviews with former MultiPlan executives and other industry experts, as well as proprietary analysis. The report revealed, in part, that: (1) MultiPlan was in the process of losing its largest client, UnitedHealthcare, which was estimated to cost Churchill III up to 35% of its revenues and 80% of its levered free cash flow within two years; (2) MultiPlan was in significant financial decline because of its fundamentally flawed business model, which profited from excessively high healthcare costs; (3) UnitedHealthcare had purportedly launched a competitor, Naviguard, to reduce its business with MultiPlan and bring the over-priced and conflicted services offered by MultiPlan inhouse; and (4) MultiPlan had suffered from material, undisclosed pricing pressures that had caused it to slash the “take rate” it charged customers in half in some instances and falsely characterized revenue declines as “idiosyncratic” when in fact they were due to sustained, negative pricing trends afflicting MultiPlan’s business.

Following this news, the price of Churchill III’s securities declined. By November 12, 2020, the price of Churchill III’s Class A common stock fell to a low of just $6.12 per share, nearly 40% below the price at which shareholders could have redeemed their shares at the time of the shareholder vote on the Merger.

The complaint alleges that the Proxy failed to disclose among other things that: (a) MultiPlan was losing tens of millions of dollars in sales and revenues to Naviguard, which threatened up to 35% of Churchill III’s sales and 80% of its levered cash flows by 2022; (b) sales and revenue declines in the quarters leading up to the Merger were not due to “idiosyncratic” customer behaviors as represented, but rather due to a fundamental deterioration in demand for MultiPlan’s services and increased competition; (c) MultiPlan was facing significant pricing pressures for its services and had been forced to materially reduce its take rate in the lead up to the Merger by insurers; (d) as a result of the foregoing, MultiPlan was set to continue to suffer from revenues and earnings declines, increased competition and deteriorating pricing dynamics following the Merger; and (e) as a result of the foregoing, Churchill III investors had grossly overpaid for the acquisition of MultiPlan in the Merger, and MultiPlan’s business was worth far less than represented to investors.

MultiPlan investors may, no later than April 26, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member.  A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.  The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).  The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
(610) 667-7706
[email protected]