TOXINS 2021: New analyses of pivotal Phase III trial data highlight long duration of response for Dysport® (abobotulinumtoxinA) in five therapeutic indications

TOXINS 2021: New analyses of pivotal Phase III trial data highlight long duration of response for Dysport® (abobotulinumtoxinA) in five therapeutic indications

  • Analyses of pivotal study data of Dysport® reveal a large proportion of study patients did not require retreatment for at least 12 weeks (and at least 16 weeks for pediatric upper limb spasticity)
  • This new analysis concluded that Dysport® is associated with a long duration of response
  • These data form one of 26 abstracts Ipsen is presenting at the TOXINS 2021 conference, taking place virtually between 16-17 January 2020, which brings new insights in research, development and manufacturing, including findings with clinical and economic implications for the management of cervical dystonia and spasticity1-28

PARIS–(BUSINESS WIRE)–
Regulatory News:

Ipsen (Euronext: IPN; ADR: IPSEY) announced results from new analyses of pivotal Phase III clinical trial data to assess treatment intervals over repeat cycles of Dysport® (abobotulinumtoxinA [aboBoNT-A]) in five patient populations. AbobotulinumtoxinA: Evidence for Long Duration of Response from 5 Patient Populations is being shared during the TOXINS 2021 conference, which is taking place virtually between 16-17 January 2020 and is organized by the International Neurotoxin Association.1-28 Ipsen is sharing 26 abstracts during the congress, with data including updates from the recently published surveys into the experience of patients and caregivers, data from the Phase IV ULIS-III trial, and ten abstracts focused on basic science research into neurotoxins.1-27

Spasticity is one of the most common and disabling conditions associated with many neurological conditions in adults and is characterized by velocity-dependent muscle hypertonia. Spasticity can lead to disabilities related to muscle stiffness, including impaired walking and hand use, pain, disfigurement and contractures.29

The new analyses of pivotal Phase III clinical trial data included randomized clinical trials and respective open-label extensions to assess treatment intervals over repeat cycles of Dysport® in the management of cervical dystonia (CD), adult lower-limb (ALL) and upper-limb (AUL) spasticity, and pediatric lower-limb (PLL) and upper-limb (PUL) spasticity. Flexible study designs allowed patients to be reinjected after week 12 (or, for PUL, week 16), according to clinical need.1

Results from the five patient populations highlighted that Dysport® offered a long duration of response when injected at the recommended and approved dose, with a large proportion of study patients not requiring retreatment for more than 12/16 weeks (% patients injected week-16 or later): in the CD study: 72.6-81.5%, ALL study: 20.1-32.0%, AUL study: 24.0-36.9%, PLL studies: 72.8-93.8%; (% children injected week-22 or later in PUL study: 19.6-67.0%) in the five pivotal studies of Dysport®, whilst safety outcomes were as expected.1

The results observed in Ipsen’s Phase III clinical studies were reinforced by real-world data from the ULIS-III observational study – the largest observational study investigating a structured approach to goal setting and outcome measurement.

Dr. Alberto Esquenazi, Sheerr Gait and Motion Analysis Laboratory, MossRehab, U.S. and lead author of the research commented: “Waning symptom relief can lead to pain and movement difficulties between treatments. These data showed the duration of response that Dysport® can offer to patients decreases the chance of patients experiencing symptomatic recurrence before the next injection.”

“We are constantly striving to uncover new insights into the therapeutic use of botulinum toxins, including key aspects of treatment such as duration of response,” said Prof. Dr. Steven Hildemann, Executive Vice President, Chief Medical Officer, Head of Global Medical Affairs and Patient Safety, Ipsen. “The breadth and depth of our data shared at TOXINS 2021 underscores Ipsen’s commitment to advancing the science and understanding the real-world impact of spasticity and dystonia to deliver treatments with individual and clinical benefits.”

Follow Ipsen on Twitter via @IpsenGroup and keep up to date with TOXINS 2021 news and updates by using the hashtag #ina_toxins.

Overview of Ipsen presentations at TOXINS 2021 Congress:1-27

Abstract title

AbobotulinumtoxinA: Evidence for Long Duration of Response from 5 Patient Populations

Alberto Esquenazi, Mauricio R. Delgado, Robert A. Hauser, Andreas Lysandropoulos, Jean-Michel Gracies

The Systematic Approach to Developing a Cell-Free Platform Process for Recombinant Toxin Production

Williams Olughu, Kevin Moore, Cillian Paget, David Gruber

Digitisation of Toxin Development

Alison Mason, Sian Richardson, Alina Bugajewska-Waller, David Gruber

Automated fermentation platform for Toxin-based Therapeutics

Stanislav Pepeliaev

Quantity of Prabotulinumtoxin Type A in 100U vials

David Allcock, Andrew Splevins, Hamzah Baig, Daniel Higazi

3D reconstruction and analysis of neuromuscular junction distribution in whole skeletal muscles in the rat using light-sheet microscopy

Denis Carré, Renaud Morin, Marine Norlund, Aurélie Gomes, Jean-Michel Lagarde, Stephane Lezmi

BoNT Intoxication: Functional Genomics Reveals an Unexpected Trafficking Route

Jeremy Yeo, Omar Loss, Iwona Ziomkiewicz, Johannes Krupp, Felicia Tay, Keith Foster, Matthew Beard, Frederic Bard

Effects of recombinant botulinum neurotoxin type A1 on CFA-induced mechanical allodynia and sensory neurone responses to mechanical stimulation monitored with GCaMP fluorescence in mice

Beatrice Oehler, Cindy Perier, Amy Fisher, Mikhail Kalinichev and Stephen McMahon

Management of Symptom Re-Emergence in Patients Living with Spasticity and Cervical Dystonia: Findings from 2 Online Patient Surveys

Alberto Esquenazi, Joaquim J. Ferreira, Jorge Jacinto, Andreas Lysandropoulos, Cynthia Comella

Patients Experiences of Symptom Re-Emergence: Findings from 2 Online Patient Surveys in Spasticity and Cervical Dystonia

Alberto Esquenazi, Joaquim J. Ferreira, Jorge Jacinto, Andreas Lysandropoulos, Cynthia Comella

Patient Perceptions of Spasticity and Treatment Satisfaction Over the Course of a Botulinum Neurotoxin A (BoNT-A) Treatment Cycle: An Ethnographic Study of Stroke Survivors

Jorge Jacinto, Andreas Lysandropoulos, Antony Fulford Smith

Longitudinal Goal Attainment with Integrated Upper Limb Spasticity Management Including Botulinum Toxin A: Primary Results from the ULIS-III Study

Lynne Turner-Stokes, Klemens Fheodoroff, Jorge Jacinto, Allison Brashear, Pascal Maisonobe, Andreas Lysandropoulos, Stephen Ashford

Real-Life Data on the Time to Retreatment with Botulinum Toxin A in Upper Limb Spasticity Management

Jorge Jacinto, Stephen Ashford, Klemens Fheodoroff, Allison Brashear, Pascal Maisonobe, Andreas Lysandropoulos, Lynne Turner-Stokes

Pain in Cervical Dystonia: A Meta-Analysis of Outcomes Following Treatment with AbobotulinumtoxinA in Randomized, Controlled Clinical Studies

Raymond L. Rosales, Lorraine Cuffe, Benjamin Regnault, Richard M Trosch

Impact of patient input on the study execution of an observational study assessing the effectiveness of abobotulinumtoxinA treatment in leg spasticity management in adults

Alberto Esquenazi, Pascal Maisonobe, Carlos Durán Sánchez, Andreas Lysandropoulos, Stephen Ashford

Improvement of Spastic Paresis and Cervical Dystonia Management: Assessment of Seven Years of the Innovative International Educational Program Ixcellence Network®

Nigar Dursun, Tae Mo Chung, Carlo Colosimo, Roongroj Bhidayasiri, Kailash Bhatia, Julie Tiley, Jorge Jacinto

Long-Term Efficacy and Safety of Liquid Formulation AbobotulinumtoxinA for the Treatment of Moderate-to-Severe Glabellar Lines: A Phase III, Double-Blind, Placebo-Controlled and Open-Label Repeat Injection Study

Philippe Kestemont, Said Hilton, Bill Andriopoulos, Inna Prygova, Catherine Thompson, Magali Volteau, Benjamin Ascher

Patient satisfaction with abobotulinumtoxinA for aesthetic use in the upper face: A Systematic literature review and post hoc analysis of the APPEAL study

Riekie Smit, Elena Gubanova, Joely Kaufman, Marina Landau, Beatriz Molina, Bill Andriopoulos, Pascal Maisonobe, Inna Prygova, Alessio Redaelli

BoNT-As for Adult Spasticity and Cervical Dystonia: Cost-Effectiveness Analysis and the Cost of Response in the United Kingdom

Karissa Johnston, Natalya Danchenko, Talshyn Bolatova, John Whalen

Economic outcomes in real-world use of botulinum toxin-A products for adult patients with upper limb spasticity: a UK perspective

Lynne Turner-Stokes, Stephen Ashford, Jorge Jacinto, Klemens Fheodoroff, Natalya Danchenko, Pascal Maisonobe, Michael Williams, John Whalen

Cost-Effectiveness of BoNT-A Products for Treatment of Pediatric Spasticity in the United Kingdom

Natalya Danchenko, Karissa Johnston, Talshyn Bolatova, John Whalen

The Spasticity-Related Quality of Life 6-Dimensions Tool (SQOL-6D) in Upper Limb Spasticity: A First Psychometric Evaluation

Lynne Turner-Stokes, Klemens Fheodoroff, Jorge Jacinto, Jeremy Lambert, Christine de la Loge, John Whalen, Pascal Maisonobe, Stephen Ashford

AbobotulinumtoxinA in the Management of Hallux Valgus in Adult Patients: Results of a Randomized and Placebo-Controlled Phase II Trial

Selene G Parekh, David G Armstrong, Lawrence A DiDomenico, Babak Baravarian, Magali Volteau, Robert Silva

Dosing from a Phase 3, Pivotal Study of AbobotulinumtoxinA Injection in Upper-Limb Muscles in Pediatric Patients with Cerebral Palsy

Joyce Oleszek, Ann Tilton, Jorge Carranza, Nigar Dursun, Marcin Bonikowski, Edward Dabrowski, Benjamin Regnault, Mauricio R. Delgado on behalf of the Dysport in PUL study group

Efficacy and Safety of AbobotulinumtoxinA in Pediatric Lower Limb Spasticity: 2nd Interim Results from a Phase IV, Prospective, Observational, Multicenter Study

Mark Gormley, Edward Dabrowski, Ann Tilton, Asare Christian, Sarah Helen Evans, Pascal Maisonobe, Stefan Wietek

Development of the Hygiene Extension Limb Position Pain (HELP) Tool to Monitor Waning of Clinical Efficacy in Patients with Spasticity or Cervical Dystonia Treated with Botulinum Toxins

Atul Patel, Stefan Wietek, Edward Dabrowski

About spasticity

Spasticity is estimated to affect more than 12 million people worldwide.30 It is a condition in which certain muscles are continuously contracted causing stiffness or tightness of the muscles, which can interfere with normal movement, gait and speech.31 Spasticity is usually caused by damage to the parts of the brain or spinal cord that control voluntary movement,31-32 leading to a change in the balance of signals between the nervous system and the muscles which leads to increased activity in the muscles.31 Spinal cord injury, multiple sclerosis, cerebral palsy, stroke, brain or head trauma and metabolic diseases can all cause spasticity.32 Spasticity is experienced by approximately 34% of stroke survivors within 18 months following a stroke.33

About cervical dystonia

Cervical dystonia (CD), also known as spasmodic torticollis, is a movement disorder in which involuntary muscular contractions occur primarily in the neck muscles.34,35 This can cause the head to turn to one side or to be pulled backward or forward.34,36 CD is relatively uncommon, affecting 57 to 280 people per million.37 It can occur at any age, although symptoms generally appear in middle age, often beginning slowly and usually reaching a plateau over a few months or years.38 The degeneration of the spine, irritation of nerve roots or frequent headaches can make CD particularly painful.38 In most cases the cause is unknown and no cure exists.37

About Dysport®

Dysport® (abobotulinumtoxinA) is an injectable form of a botulinum neurotoxin type A (BoNT-A) product, which is a substance derived from Clostridium bacteria producing BoNT-A that inhibits the effective transmission of nerve impulses and thereby reduces muscular contractions. It is supplied as a lyophilized powder. AbobotulinumtoxinA has marketing authorization in more than 90 countries, more than 30 years of clinical experience and six million treatment years of patient experience.

The detailed recommendations for the use of Dysport are described in the Summary of Product Characteristics (SmPC) for Dysport (300 units) Powder and Dysport (500 units) Powder, and the U.S. Prescribing Information (PI).

NOTE: Dysport® labels and approved indications may vary from country to country.

About Ipsen

Ipsen is a global specialty-driven biopharmaceutical group focused on innovation and Specialty Care. The Group develops and commercializes innovative medicines in three key therapeutic areas – Oncology, Neuroscience, and Rare Diseases. Ipsen also has a well-established Consumer Healthcare business. With total sales over €2.5 billion in 2019, Ipsen sells more than 20 drugs in over 115 countries, with a direct commercial presence in more than 30 countries. Ipsen’s R&D is focused on its innovative and differentiated technological platforms located in the heart of the leading biotechnological and life sciences hubs (Paris-Saclay, France; Oxford, UK; Cambridge, US). The Group has about 5,700 employees worldwide. Ipsen is listed in Paris (Euronext: IPN) and in the United States through a Sponsored Level I American Depositary Receipt program (ADR: IPSEY). For more information on Ipsen, visit www.ipsen.com

Ipsen’s Forward Looking Statement

The forward-looking statements, objectives and targets contained herein are based on the Group’s management strategy, current views and assumptions. Such statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated herein. All of the above risks could affect the Group’s future ability to achieve its financial targets, which were set assuming reasonable macroeconomic conditions based on the information available today. Use of the words “believes”, “anticipates” and “expects” and similar expressions are intended to identify forward-looking statements, including the Group’s expectations regarding future events, including regulatory filings and determinations, and the outcome of this study or other studies. Moreover, the targets described in this document were prepared without taking into account external growth assumptions and potential future acquisitions, which may alter these parameters. These objectives are based on data and assumptions regarded as reasonable by the Group. These targets depend on conditions or facts likely to happen in the future, and not exclusively on historical data. Actual results may depart significantly from these targets given the occurrence of certain risks and uncertainties, notably the fact that a promising product in early development phase or clinical trial may end up never being launched on the market or reaching its commercial targets, notably for regulatory or competition reasons. The Group must face or might face competition from generic products that might translate into a loss of market share. Furthermore, the Research and Development process involves several stages each of which involves the substantial risk that the Group may fail to achieve its objectives and be forced to abandon its efforts with regards to a product in which it has invested significant sums. Therefore, the Group cannot be certain that favorable results obtained during preclinical trials will be confirmed subsequently during clinical trials, or that the results of clinical trials will be sufficient to demonstrate the safe and effective nature of the product concerned. There can be no guarantees a product will receive the necessary regulatory approvals or that the product will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Other risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of 6 pharmaceutical industry regulation and health care legislation; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the Group’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Group’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. The Group also depends on third parties to develop and market some of its products which could potentially generate substantial royalties; these partners could behave in such ways which could cause damage to the Group’s activities and financial results. The Group cannot be certain that its partners will fulfil their obligations. It might be unable to obtain any benefit from those agreements. A default by any of the Group’s partners could generate lower revenues than expected. Such situations could have a negative impact on the Group’s business, financial position or performance. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements, targets or estimates contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law. The Group’s business is subject to the risk factors outlined in its registration documents filed with the French Autorité des Marchés Financiers. The risks and uncertainties set out are not exhaustive and the reader is advised to refer to the Group’s 2019 Universal Registration Document available on its website (www.ipsen.com).

References

  1. Esquenazi et al., TOXINS 2021. AbobotulinumtoxinA: Evidence for Long Duration of Response from 5 Patient Populations.
  2. Olughu et al., TOXINS 2021. The Systematic Approach to Developing a Cell-Free Platform Process for Recombinant Toxin Production.
  3. Mason et al., TOXINS 2021. Digitisation of Toxin Development
  4. Pepeliaev S., TOXINS 2021. Automated fermentation platform for Toxin-based Therapeutics.
  5. Allcock et al., TOXINS 2021. Quantity of Prabotulinumtoxin Type A in 100U vials.
  6. Pryazhnikov et al., TOXINS 2021. Local cortical injection of AbobotulinumtoxinA (Dysport®) enhances the laser injury-induced microglial cell migration and process extension in in mice.
  7. Carré et al., TOXINS 2021. 3D reconstruction and analysis of neuromuscular junction distribution in whole skeletal muscles in the rat using light-sheet microscopy.
  8. Yeo et al., TOXINS 2021. BoNT Intoxication: Functional Genomics Reveals an Unexpected Trafficking Route.
  9. Oehler et al., TOXINS 2021. Effects of recombinant botulinum neurotoxin type A1 on CFA-induced mechanical allodynia and sensory neurone responses to mechanical stimulation monitored with GCaMP fluorescence in mice.
  10. Esquenazi et al., TOXINS 2021. Management of Symptom Re-Emergence in Patients Living with Spasticity and Cervical Dystonia: Findings from 2 Online Patient Surveys
  11. Esquenazi et al., TOXINS 2021. Patients Experiences of Symptom Re-Emergence: Findings from 2 Online Patient Surveys in Spasticity and Cervical Dystonia.
  12. Jacinto et al., TOXINS 2021. Patient Perceptions of Spasticity and Treatment Satisfaction Over the Course of a Botulinum Neurotoxin A (BoNT-A) Treatment Cycle: An Ethnographic Study of Stroke Survivors.
  13. Turner-Stokes et al., TOXINS 2021. Longitudinal Goal Attainment with Integrated Upper Limb Spasticity Management Including Botulinum Toxin A: Primary Results from the ULIS-III Study.
  14. Jacinto et al., TOXINS 2021. Real-Life Data on the Time to Retreatment with Botulinum Toxin A in Upper Limb Spasticity Management.
  15. Rosales et al., TOXINS 2021. Pain in Cervical Dystonia: A Meta-Analysis of Outcomes Following Treatment with AbobotulinumtoxinA in Randomized, Controlled Clinical Studies.
  16. Esquenazi et al., TOXINS 2021. Impact of patient input on the study execution of an observational study assessing the effectiveness of abobotulinumtoxinA treatment in leg spasticity management in adults.
  17. Dursun et al., TOXINS 2021. Improvement of Spastic Paresis and Cervical Dystonia Management: Assessment of Seven Years of the Innovative International Educational Program Ixcellence Network®.
  18. Kestemont et al., TOXINS 2021. Long-Term Efficacy and Safety of Liquid Formulation AbobotulinumtoxinA for the Treatment of Moderate-to-Severe Glabellar Lines: A Phase III, Double-Blind, Placebo-Controlled and Open-Label Repeat Injection Study.
  19. Smit et al., TOXINS 2021. Patient satisfaction with abobotulinumtoxinA for aesthetic use in the upper face: A Systematic literature review and post hoc analysis of the APPEAL study.
  20. Johnston et al., TOXINS 2021. BoNT-As for Adult Spasticity and Cervical Dystonia: Cost-Effectiveness Analysis and the Cost of Response in the United Kingdom.
  21. Turner-Stokes et al., TOXINS 2021. Economic outcomes in real-world use of botulinum toxin-A products for adult patients with upper limb spasticity: a UK perspective.
  22. Danchenko et al., TOXINS 2021. Cost-Effectiveness of BoNT-A Products for Treatment of Pediatric Spasticity in the United Kingdom
  23. Turner-Stokes et al., TOXINS 2021. The Spasticity-Related Quality of Life 6-Dimensions Tool (SQOL-6D) in Upper Limb Spasticity: A First Psychometric Evaluation
  24. Parekh et al., TOXINS 2021. AbobotulinumtoxinA in the Management of Hallux Valgus in Adult Patients: Results of a Randomized and Placebo-Controlled Phase II Trial.
  25. Oleszek et al., TOXINS 2021. Dosing from a Phase 3, Pivotal Study of AbobotulinumtoxinA Injection in Upper-Limb Muscles in Pediatric Patients with Cerebral Palsy.
  26. Gormley et al., TOXINS 2021. Efficacy and Safety of AbobotulinumtoxinA in Pediatric Lower Limb Spasticity: 2nd Interim Results from a Phase IV, Prospective, Observational, Multicenter Study.
  27. Patel et al., TOXINS 2021. Development of the Hygiene Extension Limb Position Pain (HELP) Tool to Monitor Waning of Clinical Efficacy in Patients with Spasticity or Cervical Dystonia Treated with Botulinum Toxins
  28. TOXINS 2021 Virtual Congress. Virtual Congress Hall. TOXINS. Available at: https://www.neurotoxins.org/toxins-2021-virtual/#:~:text=The%20TOXINS%202021%20virtual%20conference%20will%20provide%20participants%20with%20important,head%20and%20neck%2C%20limb%20dystonia%2C. Accessed January 2021.
  29. Mayo Clinic. Cervical Dystonia. Available at https://www.mayoclinic.org/diseases-conditions/cervical– dystonia/symptoms-causes/syc-20354123. Accessed December 2020.
  30. John Hopkins Medicine. Spasticity. Accessed: December 2020. Available at: https://www.hopkinsmedicine.org/health/conditions-and- diseases/spasticity. Accessed December 2020.
  31. American Association of Neurological Surgeons. Spasticity. Available at: https://www.aans.org/Patients/Neurosurgical-Conditions-and-Treatments/Spasticity. Accessed December 2020.
  32. American Association of Neurological Surgeons. Movement Disorders. Available at: https://www.aans.org/Patients/Neurosurgical-Conditions-and-Treatments/Movement-Disorders. Accessed December 2020.
  33. Kuo C. Post-stroke Spasticity: A review of epidemiology, pathophysiology, and treatments. Int J Gerontol 2018;12:280-284.
  34. Royal College of Physicians, British Society of Rehabilitation, “Spasticity in adults: management using botulinum toxin. National Guidelines”; 2018
  35. Claypool D, et al. Epidemiology and outcome of cervical dystonia (spasmodic torticollis) in Rochester, Minnesota. Movement Disorders 1995;10: 608-614.
  36. National Institute of Neurological Disorders and Stroke. Dystonias Fact Sheet. Available at https://www.ninds.nih.gov/Disorders/Patient-Caregiver-Education/Fact-Sheets/Dystonias-Fact-Sheet. Accessed December 2020.
  37. Castelão M, et al. Botulinumtoxin type A therapy for cervical dystonia.Cochrane Database of Systematic Reviews 2017;12:CD003633.
  38. American Association of Neurological Surgeons. Dystonia. Available at http://www.aans.org/Patients/Neurosurgical-Conditions-and-Treatments/Dystonia. Accessed December 2020.

 

Media and Financial Community

Ipsen Global Communications

[email protected]

KEYWORDS: Europe United States North America France New York

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health

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CallTower Announces 2020 Power Partner of the Year Awards

Celebrating top-performing partners, who demonstrate innovation and excellence in UCaaS, CCaaS and Collaboration solution selling

South Jordan, Utah, Jan. 15, 2021 (GLOBE NEWSWIRE) — CallTower, a global leader in delivering cloud-based enterprise-class unified communications and contact center solutions, announced today the winners of their Power Partner of the Year Awards for 2020.  CallTower is celebrating channel professionals that have excelled in developing their partnerships with CallTower and growing mutual business opportunities and customers.   

CallTower is committed to delivering industry-leading UCaaSCCaaS and collaboration solutions that enable mutual growth with partners.  The 2020 CallTower Power Partner of the Year Awards recognizes partners for their outstanding performance and accomplishments that raise the standard for business excellence and customer satisfaction.  Winners were chosen for their excellent financial performance, innovative solution selling and for driving meaningful business results for shared customers. 

CallTower’s 2020 award winners are:  Ali Niroo, Converged Network Services Group (CNSG); Bill Wootten, C3 Integrated Services; Stacey Dupree, Meridian Network Services; Robert Leyman, Lancaster Communications Group; Patrick Keane, Simplified Communications; and Sean Lailey, Agile IT. 

“We are thrilled to recognize and honor top-performing partners who excel at meeting the needs of our joint customers. The CallTower Power Partner Awards celebrate our partners’ achievements and exemplify how together we deliver industry-leading UCaaS solutions to maximize customers communication needs,” said CallTower’s Chief Revenue Officer, William Rubio. “Thanks to our remarkable partners, we had an outstanding 2020.  The outlook is tremendous for an extraordinary opportunity in 2021 and beyond, with the vast number of companies looking to move to cloud-based business communication solutions. We are excited to continue working with our partners to deliver powerful business outcomes that enable our joint customers to transform and accelerate their businesses.” 

 

About CallTower  

Since its inception in 2002, CallTower has become a leading provider of cloud-based, enterprise-class Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) solutions for growing organizations worldwide. CallTower provides, integrates, and supports industry-leading, cloud-based, UCaaS and CCaaS solutions, including Cisco® HCS, Cisco® Webex, Native Microsoft® Teams Direct Routing, Microsoft® Office 365, Enterprise Hosted Skype for Business, CT Cloud Voice, CT Cloud Boost, CT Cloud Meeting powered by Zoom and Cloud Contact Center for business customers.  

For more information contact [email protected]

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Kade Herbert
CallTower, Inc.
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[email protected]

Orthocell Receives US Market Clearance

Orthocell Receives US Market Clearance

  • Australian-based regenerative medicine company, Orthocell Ltd, has received US 510k clearance to market and supply its collagen medical device for dental bone and tissue regeneration procedures
  • Strong partnering potential, with US, EU and AU market approval now in place
  • Striate+TM established as the new global brand for dental bone and tissue regeneration product

PERTH, Australia–(BUSINESS WIRE)–
Australian-based regenerative medicine company, Orthocell Ltd (ASX:OCC, “Orthocell” or the “Company”), has achieved US 510k clearance to market and supply its collagen medical device Striate+TM in the US dental bone and tissue regeneration market.

Orthocell Managing Director, Paul Anderson, said:“US approval is a significant inflection point for our Company, and we are now primed to partner and distribute this product. I look forward to working with our leading dental surgeons to introduce the new global brand, Striate+TM – previously branded as CelGro® dental – to make a meaningful impact in the US market.”

The US 510(k) clearance now allows Orthocell to supply Striate+TM in the US dental bone and tissue regeneration market, estimated at US$500 million per annum1. The Company will now pursue negotiations with multi-national dental companies for US marketing and distribution rights, with Orthocell to retain manufacturing of the finished product.

Striate+TM has been approved for use in dental bone and tissue regeneration procedures including, but not limited to, dental bone defect repair, augmentation around dental implants in immediate and delayed extraction sockets and guided tissue regeneration procedures in intrabony periodontal defects.

Leading US dental surgeon, Dr Pamela Ray, said: “Striate+TM has exceptional handling qualities – when manipulating, it remains dimensionally stable and unrolls easily back to the original size. It has great tensile strength and does not deform when hydrated. I am excited by this innovative product and its potential. I believe it will assist with improving patient outcomes and I look forward to working with the team at Orthocell as it enters the US market.”

The 510(k) clearance follows the Company’s application submitted to the FDA in May 2020. The FDA determined that, for the indications above, Orthocell’s Striate+ is substantially equivalent to a predicate device and can therefore market Striate+ in the US. Striate+ has, based on surgeon feedback, distinct advantages over other similar products and may assist surgeons to deliver improved patient outcomes through superior handling characteristics, tissue integration qualities and improved bone healing.

With US, EU and Australian market approval achieved and key opinion leaders (KOLs) actively engaging with the program, Orthocell is well positioned to secure a distribution partner and establish Striate+TM as the best-in-class dental resorbable collagen membrane.

Media enquiries:

H^CK Director, Haley Chartres

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E: [email protected]

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INDUSTRY KEYWORDS: Science Other Science Biotechnology Research General Health Health Medical Devices Dental

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890 5th Avenue Partners, Inc. Announces Closing of $287.5 Million Initial Public Offering

890 5th Avenue Partners, Inc. Announces Closing of $287.5 Million Initial Public Offering

NEW YORK–(BUSINESS WIRE)–
890 5th Avenue Partners, Inc. (the “Company”) announced today the closing of its initial public offering of 28,750,000 units, which included the full exercise of the underwriters’ over-allotment option, at a price of $10.00 per unit, resulting in gross proceeds of $287,500,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The units began trading on the Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “ENFAU” on January 12, 2021. Each unit consists of one share of the Company’s common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of the Company’s common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Company’s common stock and redeemable warrants are expected to be listed on Nasdaq under the symbols “ENFA” and “ENFAW,” respectively.

The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses. The Company’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although it intends to focus on businesses in the media and entertainment industries.

Cowen and Company, LLC and Craig-Hallum Capital Group served as joint book-running managers for the offering.

The public offering was made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, email: [email protected], telephone: 833-297-2926; or Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital Markets, telephone: 612-334-6300 or by email at [email protected].

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 11, 2021. 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 these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About 890 5th Avenue Partners, Inc.

890 5th Avenue Partners, Inc., a Delaware corporation, is a blank check company newly formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses. The Company’s management team is led by Emiliano Calemzuk, Chief Executive Officer, Michael Del Nin, Chief Operating Officer and Chief Financial Officer, and Adam Rothstein, Executive Chairman.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds of the initial public offering. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

890 Fifth Avenue Partners, Inc

Chris Buffone

575 914 6575

[email protected]

KEYWORDS: United States North America New York Delaware

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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Triumph Group to Webcast Third Quarter Fiscal Year 2021 Earnings Conference Call

Live Webcast scheduled for 8:30 AM ET on February 3, 2021

PR Newswire

BERWYN, Pa., Jan. 14, 2021 /PRNewswire/ — Triumph Group, Inc. (NYSE: TGI) will release third quarter fiscal year 2021 earnings on February 3, 2021 and will host a conference call that day at 8:30 a.m. ET. A slide presentation will be included with the audio portion of the webcast.

What:

Triumph Group, Inc. Third Quarter Fiscal Year 2021 Earnings Conference Call

When:

8:30 a.m. ET on Wednesday, February 3, 2021

Where:


http://www.triumphgroup.com 

How:   

Go to the web site at least fifteen minutes early to register, download, and install any necessary audio software.

Archive:    

For those who cannot listen to the live broadcast, a replay will be available two hours after the call and will remain available for 90 days.

Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

More information about Triumph can be found on the company’s website at http://www.triumphgroup.com.

Cision View original content:http://www.prnewswire.com/news-releases/triumph-group-to-webcast-third-quarter-fiscal-year-2021-earnings-conference-call-301209039.html

SOURCE Triumph Group

Cresco Labs Announces Proposed Offering of Subordinate Voting Shares

Cresco Labs Announces Proposed Offering of Subordinate Voting Shares

Not for Distribution to United States Newswire Services or for Dissemination in the United States

CHICAGO–(BUSINESS WIRE)–
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it is commencing a best efforts overnight marketed offering (the “Offering”) of subordinate voting shares (the “Offered Securities”) of the Company.

The Offered Securities will be offered in each of the Provinces of Canada, other than Québec, pursuant to a prospectus supplement to the Company’s base shelf prospectus dated July 25, 2019 (collectively, the “Prospectus”) and in the United States on a private placement basis to “qualified institutional buyers” pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”).

The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to market and other customary conditions, including requirements of the Canadian Securities Exchange.

In addition, the Company intends to grant the agents a 30-day option to purchase up to an additional 15% of the Offered Securities pursuant to the proposed Offering on the same terms and conditions to cover over-allotments.

The Company intends to use the net proceeds of the Offering for organic and inorganic growth opportunities and general corporate purposes.

ATB Capital Markets Inc. is acting as sole bookrunner for the Offering. A.G.P./Alliance Global Partners is acting as the sole U.S. sub-agent and financial advisor to the Company in connection with the Offering in the United States.

Copies of the Prospectus, following filing of the prospectus supplement, may be obtained on SEDAR at www.sedar.com and from ATB Capital Markets Inc., 410-585 8th Ave SW, Calgary, Alberta, T2P 1G1. The Prospectus contains important detailed information about the Company and the proposed Offering. Prospective investors should read the Prospectus and the other documents the Company has filed on SEDAR at www.sedar.com before making an investment decision.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The subordinate voting shares have not been and will not be registered under the U.S. Securities Act or any state securities laws. Accordingly, the Offered Securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Cresco Labs

Cresco Labs is one of the largest vertically integrated, multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry..

Forward Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the company’s CSE Listing Statement filed with SEDAR; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco’s shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.

Media:

Jason Erkes, Cresco Labs

Chief Communications Officer

[email protected]

Investors:

Jake Graves

Investor Relations

[email protected]

For general Cresco Labs inquiries:

312-929-0993

[email protected]

KEYWORDS: Illinois United States North America Canada

INDUSTRY KEYWORDS: Alternative Medicine Retail Health Agriculture Specialty Natural Resources

MEDIA:

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Cresco Labs Announces Proposed Offering of Subordinate Voting Shares

Cresco Labs Announces Proposed Offering of Subordinate Voting Shares

CHICAGO–(BUSINESS WIRE)–
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it is commencing a best efforts overnight marketed offering (the “Offering”) of subordinate voting shares (the “Offered Securities”) of the Company.

The Offered Securities will be offered in each of the Provinces of Canada, other than Québec, pursuant to a prospectus supplement to the Company’s base shelf prospectus dated July 25, 2019 (collectively, the “Prospectus”) and in the United States on a private placement basis to “qualified institutional buyers” pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”).

The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to market and other customary conditions, including requirements of the Canadian Securities Exchange.

In addition, the Company intends to grant the agents a 30-day option to purchase up to an additional 15% of the Offered Securities pursuant to the proposed Offering on the same terms and conditions to cover over-allotments.

The Company intends to use the net proceeds of the Offering for organic and inorganic growth opportunities and general corporate purposes.

Copies of the Prospectus, following filing of the prospectus supplement, may be obtained on SEDAR at www.sedar.com and from ATB Capital Markets Inc., 410-585 8th Ave SW, Calgary, Alberta, T2P 1G1. The Prospectus contains important detailed information about the Company and the proposed Offering. Prospective investors should read the Prospectus and the other documents the Company has filed on SEDAR at www.sedar.com before making an investment decision.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The subordinate voting shares have not been and will not be registered under the U.S. Securities Act or any state securities laws. Accordingly, the Offered Securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Cresco Labs

Cresco Labs is one of the largest vertically integrated, multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry.

Forward Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the company’s CSE Listing Statement filed with SEDAR; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco’s shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.

Media:

Jason Erkes, Cresco Labs

Chief Communications Officer

[email protected]

Investors:

Jake Graves

Investor Relations

[email protected]

For general Cresco Labs inquiries:

312-929-0993

[email protected]

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Agriculture Natural Resources Alternative Medicine General Health Health Tobacco Specialty Retail

MEDIA:

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Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Tricida, Inc. – TCDA

Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Tricida, Inc. – TCDA

NEW YORK–(BUSINESS WIRE)–
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Tricida, Inc. (NASDAQ:TCDA) between September 4, 2019 and October 28, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Tricida investors under the federal securities laws.

To join the Tricida class action, go to http://www.rosenlegal.com/cases-register-1941.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.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Tricida’s NDA for veverimer was materially deficient; (2) accordingly, it was foreseeably likely that the FDA would not accept the NDA for veverimer; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 8, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1941.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN 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/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. 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 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

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

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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GoldQuest: Dominican Republic’s Minister of Energy and Mines to Visit San Juan Community to Discuss the Romero Project

VANCOUVER, British Columbia, Jan. 14, 2021 (GLOBE NEWSWIRE) — GoldQuest Mining Corp. (TSXV:GQC, “GoldQuest” or the “Company”) The Minister of Energy and Mines, Mr. Antonio Almonte, stated in an interview published in the El Dia newspaper that he will be visiting the city of San Juan in the coming weeks to speak about the Romero Gold and Copper Project with community members. The Minister also went on to state that post his visit he will be writing a report to the President of the Dominican Republic to assist in making a decision on the Project.

“We are encouraged that Minister Almonte will meet with various community members to discuss our project in the next few weeks,” commented Dave Massola CEO of GoldQuest. “We are hopeful that a conclusion on our Romero Exploitation application will be made in the near term. We also invite the Minister or Vice Minister Miguel Diaz to visit our project site.”

In a separate letter to Mr. Massola, Minister Almonte stated that the government apologizes for the delay and assured GoldQuest that the new government is committed to supporting responsible mining and foreign investment. He also emphasized that the government is aware of the time the company has waited for a decision and assured the company that the Ministry is working hard to speed up the process of mining projects.

GoldQuest’s Romero gold project has been paralyzed for several years awaiting government approval, specifically the President’s final approval, to commence formal environmental studies, which, according to independent engineers JDS, could result in life-of-mine expenditures of US$550 million and create up to 1,000 jobs in the construction phase and 343 permanent jobs during the operation phase. (see details of the JDS Pre-Feasibility Study filed on SEDAR November 11, 2016).

The Company is well funded with C$15.7 million in cash reported at the end of Q3 2020.

About GoldQuest:

GoldQuest is a Canadian based mineral exploration and development company with projects in the Dominican Republic. GoldQuest is traded on the TSX‐V under the symbol GQC and in Frankfurt/Berlin with symbol M1W. The Company is well funded to carry out exploration programs and to advance the development of its Romero gold/copper discovery, also located in the Tireo Formation of the Dominican Republic.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward‐looking statements:

Statements contained in this news release that are not historical facts are forward‐looking information that involves known and unknown risks and uncertainties. Forward‐looking statements in this news release include, but are not limited to, statements with respect to potential development and production from the Company’s Romero Project, the economy of the Dominican Republic, the benefits of development and production from the Romero project on the economy of the Dominican Republic, the NPV and IRR included in the PFS, future tax payments and exploration expenditures by the Company in the Dominican Republic, the merits of the Company’s mineral properties, future programs and studies, and the Company’s plans and exploration programs for its mineral properties, including the timing of such plans and programs. In certain cases, forward‐looking statements can be identified by the use of words such as “plans”, “looks forward”, “has proven”, “expects” or “does not expect”, “is expected”, “potential”, “likelihood”, “appears”, “budget”, “scheduled”, “estimates”, “forecasts”, “at least”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be achieved”.

Forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward‐looking statements. Such risks and other factors include, among others, risks related to economic and political conditions globally and in the Dominican Republic; the COVID-19 pandemic, including measures taken and that may be taken to attempt to reduce the spread of COVID-19, employee and contractor health, safety and availability, availability of materials and equipment, travel restrictions, and other risks and uncertainties related to the pandemic; uncertainties inherent in drill results and the estimation of mineral resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the Company’s ability to continue as a going concern; the Company’s ability to raise funds through equity financings; risks inherent in mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals; government regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance coverage and the timing and possible outcome of litigation. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward‐looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, do not place undue reliance on forward‐looking statements. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward‐looking statements except as required under applicable securities laws. Forward‐looking statements are based on assumptions that the Company believes to be reasonable, including expectations regarding mineral exploration and development costs; expected trends in mineral prices and currency exchange rates; the accuracy of the Company’s current mineral resource estimates; that the Company’s activities will be in accordance with the Company’s public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

CONTACT INFORMATION

GoldQuest Corp

Dave Massola

Chief Executive Officer – Toronto

+1‐416-583-5606


[email protected]



Skillful Craftsman Announces Financial Results for The First Six Months of Fiscal Year 2021

14% year-over-year revenue growth

28% year-over-year total fee-paying members growth

WUXI, China, Jan. 14, 2021 (GLOBE NEWSWIRE) — Skillful Craftsman Education Technology Ltd. (“the Company”) (NASDAQ: EDTK), an education technology company providing interactive online learning services, today announced its financial results for the first six months of fiscal year 2021 ended September 30, 2020.

First Six Months of Fiscal Year 2021 Financial and Operational Highlights

All financial figures are in US Dollars unless otherwise noted.

  • Revenue was $15.3 million, compared with $13.4 million for the same period of last year, representing a 14% increase.
  • Gross profit was $8.5 million, compared with $8.1 million for the same period of last year, representing a 5% increase.
  • Gross profit margin was 55%, compared with 60% for the same period of last year.
  • Net income was $4.39 million, compared with $5.13 million for the same period of last year. The decrease was due in part to one-time expense related to the Company’s initial public offering (“IPO”).
  • Basic and diluted earnings per share were $0.44, compared with $0.57 for the same period of last year.
  • Total fee-paying members1 reached 3.28 million, compared with 2.57 million during the same period of last year, representing a 28% increase.

1Number of fee-paying members is defined as the total number of members that are paying fees for accessing our platforms as of the end of the applicable period.

Mr. Xiaofeng Gao, Chairman and CEO of Skillful Craftsman Education Technology Ltd., commented, “We are excited to announce our strong results for the first six months of fiscal year 2021 ended September 30, 2020. Our revenue increased by 14% to $15.3 million, from $13.4 million for the same period of last year and our total fee-paying members increased by 28% to 3.28 million, compared with 2.57 million during the same period of last year. We believe the results demonstrate the resilience of our business, the experience of our senior management team, and our commitment to quality service. As an education technology company, we strive to optimize our service and diversify our offerings to meet the evolving needs of the market. We believe that the current business climate, which encourages remote learning, will enhance our business growth more than ever. We have been pursuing our business strategies to expand course offerings in tune with industry trends and national policies, integrate online and offline resources for virtual simulation experimental training, offer professional development-related services and develop mobile app and WeChat interfaces for our online learning platform. We believe we are well-positioned in the turbulent market environment to optimize our revenue structure and strategically explore opportunities to create more value for all of our shareholders.”

First Six Months of Fiscal Year 2021 Financial Results

All figures refer to the first six months of fiscal year 2021 ended September 30, 2020 unless otherwise stated


Revenue

Revenue increased by 14% to $15.3 million, from $13.4 million for the same period of last year.


Cost of Revenue

Cost of revenue increased by 28% to $6.83 million, from $5.35 million for the same period of last year. The increase was mainly caused by the increase of resource usage fee by $0.35 million and website maintenance fee by $0.48 million. In addition, the depreciation expenses of server hardware also increased by $0.6 million.


Gross Profit and Gross Margin

Gross profit increased by 5% to $8.5 million, from $8.1 million for the same period of last year.

Gross margin decreased by 5 percentage points to 55%, from 60% for the same period of last year.


Operating Expenses

Operating expenses increased by 90% to $2.38 million, from $1.25 million for the same period of last year.

Sales and marketing expenses increased by 13% to $0.88 million, from $0.78 million for the same period of last year. This increase was mainly due to Telecommunications service fees, which increased by $0.21 million as the Company expanded their network and service systems.

General and administrative expenses increased by 217% to $1.50 million, from $0.47 million for the same period of last year. This increase was primarily caused by higher employee compensation and welfare expenses and particularly an increase of $0.54 million in salary and fee expenses of independent directors, senior executives and employees related to the IPO. The service fee also increased by $0.27 million due to the success of IPO. The Company also recorded research and development expenses in general and administrative expenses of $0.24 million, compared with $0.10 million for the same period of last year.


Income Before Tax

Income before tax expense decreased by 11% to $6.14 million, from $6.86 million for the same period of last year.


Net Income

Net income decreased by 14% to $4.39 million, from $5.13 million for the same period of last year.

Basic and diluted earnings per share were $0.44, compared with $0.57 for the same period of last year.


Cash and Cash Equivalents

As of September 30, 2020, the Company had cash and cash equivalents of $17.5 million, compared with $11.9 million as of March 31, 2020.


Cash Flow

Net cash generated from operating activities was $6.58 million, compared with $6.78 million for the same period of last year.

Net cash used in investing activities was $14.24 million, compared with $5.73 million for the same period of last year.

Net cash generated from financing activities was $13.24 million, compared with nil for the same period of last year.

About Skillful Craftsman

Skillful Craftsman is an education technology company that provides interactive online vocational training and virtual simulation experimental training courses. The Company began operations in Wuxi, China in 2013 and is a key supporter for China education reform and development for labor employment. As of March 31, 2020, the Company had 68.5 million total registered members, of which 3.1 million are fee-paying members. For more information, please visit: ir.kingwayup.com


Safe Harbor Statement

This report contains “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that represent our beliefs, projections and predictions about future events. All statements other than statements of historical fact are “forward-looking statements,” including any projections of earnings, revenue or other financial items, any statements of the plans, strategies and objectives of management for future operations, any statements concerning proposed new projects or other developments, any statements regarding future economic conditions or performance, any statements of management’s beliefs, goals, strategies, intentions and objectives, and any statements of assumptions underlying any of the foregoing. Words such as “may”, “will”, “should”, “could”, “would”, “predicts”, “potential”, “continue”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and similar expressions, as well as statements in the future tense, identify forward-looking statements.

Forward-looking statements are based on information available at the time those statements are made and management’s belief as of that time with respect to future events. These statements are necessarily subjective and involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any future results, performance or achievements described in or implied by such statements. Such risks, uncertainties, and other factors include, but are not limited to, our ability to improve launch and leverage new technologies and cooperative relationships or anticipate market demand in a timely or cost-effective manner, and those factors discussed under the headings “Risk Factors”, “Operating and Financial Review and Prospects,” and elsewhere in our Annual Report on Form 20-F. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Actual results may differ materially from expected results described in our forward-looking statements, including with respect to correct measurement and identification of factors affecting our business or the extent of their likely impact, and the accuracy and completeness of the publicly available information with respect to the factors upon which our business strategy is based or the success of our business. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.

For investor and media enquiries, please contact:

Skillful Craftsman
Investor Relations Department
Email: [email protected] 

Ascent Investor Relations LLC
Tina Xiao
Tel: +1 917-609-0333
Email: [email protected]

SKILLFUL CRAFTSMAN EDUCATION TECHNOLOGY LIMITED

CONSOLIDATED BALANCE SHEETS

      As of
      September 30, 2020     March 31, 2020
      (Unaudited)     (Audited)
ASSETS            
Current assets:            
Cash and cash equivalents   $ 17,450,639     $ 11,931,714  
Accounts receivable, net     103,069       78,785  
Prepayments and other current assets     1,119,333       1,963,102  
Other investments     8,000,000        
Total current assets     26,673,041       13,973,601  
Non-current assets            
Property and equipment, net     15,212,700       12,324,125  
Intangible assets, net     19,146,875       19,294,740  
Long-term prepayments and other non-current assets     68,526       97,035  
Total non-current assets     34,428,101       31,715,900  
TOTAL ASSETS   $ 61,101,142     $ 45,689,501  
 
Current liabilities            
Accounts payable   $ 99,264     $ 249,086  
Taxes payable     330,189       543,600  
Amounts due to a related party     509,012        
Other payables     996,436       227,525  
Deferred revenue-current     12,250,372       16,736,365  
Total current liabilities     14,185,273       17,756,576  
Non-current liabilities            
Deferred revenue-non-current     1,597,510       50,877  
Total non-current liabilities     1,597,510       50,877  
TOTAL LIABILITIES   $ 15,782,783     $ 17,807,453  
COMMITMENTS AND CONTIGENCIES            
SHAREHOLDERS’ EQUITY:            
Ordinary shares, 500,000,000 shares authorized; par value $0.0002 per share; 12,000,000 and 9,000,000 shares issued and outstanding as of 30 September, 2020 and 31 March, 2020, respectively     2,400       1,800  
Additional paid-in capital     13,415,987       1,619,774  
Statutory reserve     745,590       745,590  
Retained earnings     31,313,865       26,921,172  
Accumulated other component of equity:            
Foreign currency translation reserve     (159,483 )     (1,406,288 )
TOTAL SHAREHOLDERS’ EQUITY     45,318,359       27,882,048  
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   $ 61,101,142     $ 45,689,501  

SKILLFUL CRAFTSMAN EDUCATION TECHNOLOGY LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

      For the six months ended

September,
      2020     2019
      (Unaudited)     (Unaudited)
Revenue   $ 15,313,780     $ 13,420,883  
Cost of revenue     (6,826,879 )     (5,350,363 )
Gross profit     8,486,901       8,070,520  
             
Operating expenses:            
Selling and marketing expenses     (879,812 )     (776,903 )
General and administrative expenses     (1,499,774 )     (473,802 )
Total operating expenses     (2,379,586 )     (1,250,705 )
Income from operations     6,107,315       6,819,815  
Interest income     30,292       41,692  
Others, net     (909 )     (3,345 )
Income before income taxes     6,136,698       6,858,162  
Income tax expense     (1,744,005 )     (1,724,099 )
Net income   $ 4,392,693     $ 5,134,063  
             
Other comprehensive income/(loss):            
Foreign currency translation adjustment     1,246,805       (1,020,318 )
Total comprehensive income     5,639,498       4,113,745  

Net earnings per ordinary share, basic and diluted     0.44     0.57
Weighted average number of ordinary shares, basic and diluted     10,000,000     9,000,000

SKILLFUL CRAFTSMAN EDUCATION TECHNOLOGY LIMITED

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

  For the six months ended September 30,
  2020


  2019


Cash flows from operating activities          
Net income $ 4,392,693     $ 5,134,063  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation of property and equipment   1,657,961       1,069,520  
Amortization of intangible assets   3,157,605       3,104,576  
Loss on disposals of property and equipment         7,002  
Changes in operating assets and liabilities:          
Accounts receivables   (24,284 )     365,396  
Prepayments and other current assets   (602,972 )     (388,049 )
Long-term prepayments and other non-current assets   28,509       (291,606 )
Accounts payable   (149,822 )     18,224  
Amounts due to a related party   509,012        
Deferred revenue   (2,939,360 )     (1,732,645 )
Other payables   768,911       187,950  
Taxes payable   (213,411 )     (692,252 )
Net cash generated from operating activities   6,584,842       6,782,179  
           
Cash flows from investing activities          
Purchases of property and equipment   (3,988,249 )     (1,682,416 )
Purchases of intangible assets   (2,254,100 )     (4,043,574 )
Purchases of other investments   (8,000,000 )      
Net cash used in investing activities $ (14,242,349 )   $ (5,725,990 )
           
Cash flows from financing activities          
Proceeds from IPO net off IPO expenses   13,243,554        
Net cash flows generated from financing activities   13,243,554        
           
Effects of foreign currency translation   (67,122 )     539,066  
           
Net increase in cash and cash equivalents   5,518,925       1,595,255  
Cash and cash equivalents at beginning of period   11,931,714       10,362,283  
Cash and cash equivalents at end of period $ 17,450,639     $ 11,957,538  
           
Supplemental disclosures of cash flow information:          
Cash paid for income taxes $ 1,974,038       2,327,558