Market Newsdesk

BEIJING, Dec. 16, 2020 /PRNewswire/ — Hexindai Inc. (NASDAQ: HX) (“Hexindai” or the “Company”), a social e-commerce platform in China, today announced that Beijing Hexin Yongheng Technology Development Co., Ltd. (“Hexin Yongheng”), a wholly-owned subsidiary of the Company, Kuaishangche Automobile Leasing Co., Ltd. (“Kuaishangche”), a company not directly associated with the Company, Hexin E-Commerce Company Limited (“Hexin E-Commerce”), and individual shareholders of Hexin E-Commerce have entered into an assignment and assumption agreement on December 11, 2020 (the “Agreement”). Pursuant to the Agreement, Hexin Yongheng has agreed to assign and transfer to Kuaishangche the control over Hexin E-Commerce, in exchange for cash consideration of RMB 5 million (the “Disposition”). Upon the closing of the Disposition, Kuaishangche will become the primary beneficiary of and have control of Hexin E-Commerce, and as a result, assume all assets and liabilities of Hexin E-Commerce and subsidiaries owned or controlled by Hexin E-Commerce, excluding any rights, titles, interests or claims that Hexin E-Commerce may have in Wusu Hexin Yongheng Commercial and Trading Co., Ltd. (“Wusu Company”), which shall remain as a consolidated variable interest entity of the Company. The Company conducted its peer-to-peer (“P2P”) business through its consolidated variable interest entity, Hexin E-Commerce and had ceased to offer new loans since November 2019. As a result of the Disposition, the Company will cease to conduct its P2P business and focus on developing and investing resources into its social e-commerce platform, Xaobai Maimai.

Mr. Xiaobo An, Founder, Chairman and Chief Executive Officer of Hexindai, commented, “Due to ongoing challenges and regulatory constraints, we have decided to dispose of our P2P business and transform into a social e-commerce platform. Since we launched Xiaobai Maimai in May 2020, this social e-commerce platform has been well received by users and gained strong growth momentum in recent months. Going forward, we will continue to improve our service and product offerings on Xiaobai Maimai, further expand our user base and diversify monetization channels with other e-commerce platforms and online marketplaces to create long-term value for our users and shareholders.”

The closing of the Disposition is subject to the satisfaction or waiver of certain closing conditions, including the receipt of a fairness opinion issued by independent appraisal firm Asia-Pacific Consulting and Appraisal Limited (“APA”), confirming that the consideration to be received by Hexin Yongheng in the Disposition is fair, from a financial point of view, to shareholders of Hexindai.

A copy of the Agreement, which sets forth the terms of the Disposition, is available on the SEC’s website at www.sec.gov.

About Hexindai Inc.

Hexindai Inc. (NASDAQ: HX) (“Hexindai” or the “Company”) is a social e-commerce platform based in Beijing, China. The Company collaborates with domestic e-commerce platforms and offers users a wide selection of high-quality and affordable products on its new social e-commerce platform. Leveraging its cooperation with mainstream e-commerce platforms and services marketplaces, and its data analytics algorithm and operating system, the Company continues to identify and introduce cost-efficient products and attract users to its platform and generate higher user satisfaction to realize the platform’s fast growth.

For more information, please visit http://ir.hexindai.com/

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the Company’s goals, strategies and expansion plans; its future business development, financial condition and results of operations; its ability to attract and retain new users and to increase revenues generated from repeat users; its expectations regarding demand for and market acceptance of its products and services; its relationships and cooperation with e-commerce platforms and services marketplaces; trends and competition in China’s e-commerce market; the expected growth of the Chinese e-commerce market; Chinese governmental policies relating to the Company’s corporate structure and the e-commerce industry; and general economic conditions in China. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law. 

For investor inquiries, please contact:

Hexindai

Investor Relations
Ms. Zenabo Ma
Email: [email protected]

Christensen

In China
Mr. Eric Yuan
Phone: +86-10- 5900-1548
E-mail: [email protected]

In US
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: [email protected]

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SOURCE Hexindai Inc.

 – Nagarro will commence trading on the Frankfurt Stock Exchange

 – Company poised to grow global market share in the digital services market

FRANKFURT, Germany, Dec. 16, 2020 /PRNewswire/ — Nagarro SE (ISIN: DE000A3H2200) (WKN: A3H220), a global leader in digital engineering and technology solutions, today announced its debut as an independent, publicly traded company and the completion of its spin-off from Allgeier SE. The company’s common shares will begin trading today on the Frankfurt Stock Exchange (Prime Standard) under the symbol “NA9”. Under the terms of the spin-off, one (1) share of Nagarro SE for every one (1) share of Allgeier SE has been allotted to the Allgeier shareholders.

Nagarro is a global digital engineering company with over 8,400 employees in 25 countries across North America, Asia and Europe. The company offers a full-service portfolio of digital product engineering, digital commerce and customer experience, managed services, enterprise resource planning (“ERP”) consulting and other services. Nagarro has a diverse and loyal 750+ blue-chip customer base across all industries.

Manas Fuloria, Custodian of Entrepreneurship in the Organization (CEO) of Nagarro, said, “As an independent, public company, we can now capitalize on our own brand. We compete on the global stage and focus on growing our ability to deliver best-in-class digital services to more clients. We are addressing a large market that is growing double digits annually and is supported by structural tailwinds. We are confident that we can continue our profitable growth and deliver value for all stakeholders.”

Fuloria continued, “At Nagarro, we are building the company of tomorrow. Our differentiated organizational design and our unique culture promote entrepreneurship, agility and global collaboration, delivering great results to our clients. This modern culture, characterized by low hierarchy, high autonomy, excitement for technology, intercultural openness and pronounced social awareness, is the workplace of the future – we are convinced that this will enable us to achieve long-term success.”

Nagarro reported revenues of €402M, an adjusted EBITDA of €58M and an adjusted EBITDA margin of 14% for full year 2019. In the first nine months of 2020, revenue reached €321M and adjusted EBITDA €58M, which equals an EBITDA margin of 18%. The company targets its organic revenue growth rate to be in the region of 15% in 2021 and aims to return to historical levels (2017-2019) in the medium term. Nagarro also targets an adjusted EBITDA margin of approximately 15%. 

Nagarro’s listing agents are COMMERZBANK and Jefferies.

To celebrate the listing on the Frankfurt Stock Exchange, Nagarro will participate in a virtual listing ceremony beginning at 8:55 a.m. CET. The Frankfurt Stock Exchange will livestream the bell ringing on its website: www.boerse-frankfurt.de. A video of the livestream will be available afterwards on YouTube.

About Nagarro

Nagarro (FRA: NA9) is a global digital engineering company offering a full-service portfolio of digital product engineering, digital commerce and customer experience, managed services, ERP consulting and technology services. Customers choose Nagarro because of their differentiated combination of digital engineering power, entrepreneurial mindset, agile delivery capabilities, and global presence. Nagarro employs over 8,400 people in 25 countries. For more information, visit www.nagarro.com.

ISIN DE000A3H2200, WKN A3H220

Contact

Media Relations:
Edelman for Nagarro
Alexander Schmidt
[email protected]

Investor Relations:
Dr. Christopher Große
[email protected]

Disclaimer

This communication and the information contained therein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy or subscribe for any securities of Allgeier SE or Nagarro SE. This communication is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation of such jurisdiction or which would require any registration or licensing within such jurisdiction. Any failure to comply with these restrictions may constitute a violation of the laws of other jurisdictions. Any securities to be distributed in connection with this transaction have not been and will not be registered under the U.S. Securities Act of 1933 (as amended) or the laws of any state of the U.S. Neither Allgeier SE nor Nagarro SE intends to register any securities referred to herein in the U.S.

This communication is directed only at persons in the United Kingdom (“U.K.”) in circumstances where section 21(1) of the Financial Services and Markets Act 2000 does not apply. This communication and the information contained therein does not constitute an offer document or an offer of securities to the public in the U.K. to which section 85 of the Financial Services and Markets Act 2000 of the U.K. applies and is not, and should not be considered as, a recommendation that any person should subscribe for or purchase any securities. This communication and the information contained therein is being communicated only to (i) persons who are outside the U.K.; (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”) or (iii) persons within the scope of article 43 of the Order or (iv) high net worth companies, unincorporated associations and other bodies who fall within article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). Any investment or investment activity to which this communication and the information contained therein relates is available only to and will be engaged in only with Relevant Persons, and any person who is not a Relevant Person must not act or rely on this communication or any of its contents. This communication and the information contained therein should not be published, reproduced, distributed or otherwise made available, in whole or in part, to any other person without the prior consent of Allgeier SE or Nagarro SE.

This communication contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of Allgeier SE and Nagarro SE. Forward-looking statements involve known and unknown risks and uncertainties and, therefore, should not be construed as guarantees of future results, performance and events. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting Nagarro SE, and other factors. Allgeier SE or Nagarro SE do not undertake any obligation to update any forward-looking statements.

Advertisement

This communication is an advertisement for the purposes of the Prospectus Regulation EU 2017/1129 and underlying legislation. It is not a prospectus. The listing of the shares of Nagarro SE on the regulated market of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) will take place on the basis of an approved prospectus. The prospectus has been approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – “BaFin”) in accordance with the Prospectus Regulation regime. However, the approval of the prospectus by BaFin should not be understood as an endorsement of the shares of Nagarro SE. Investors should purchase shares solely on the basis of the prospectus relating to the shares and should read the prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the shares. Copies of the prospectus are available free of charge on Nagarro SE’s website (https://www.nagarro.com).

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SOURCE Nagarro

ISTANBUL and TOKYO, Dec. 16, 2020 /PRNewswire/ — Today Arçelik A.Ş. (IST: ARCLK) (“Arçelik”) and Hitachi Global Life Solutions, Inc. (“Hitachi GLS”) have signed a share purchase agreement to establish a new joint venture company. As part of the transaction, Hitachi GLS will establish a new company into which it will transfer its global home appliances business outside of Japan. Arçelik will acquire 60% ownership in the new company, which both partners aim to establish in the spring of 2021, subject to regulatory approvals and satisfaction of other customary conditions.

The transaction value is calculated as USD 300 million on a cash-free and debt-free basis for 60% of the business, which is subject to customary adjustments based on the balance of net debt, net working capital of the Company, and minority shares adjustment for the outstanding minority shares as of the closing date.

Arçelik and Hitachi GLS plan to build a competitive value chain leveraging the complementarity of both companies’ strategies and create growth opportunities that will increase their access to new markets, enhance their product ranges and sales capabilities, while delivering increased competitiveness across supply chain and production operations.

Arçelik has consistently expanded its home appliance business in over 145 countries around the world. The company has grown significantly in Europe in particular and achieved strong growth in South Asia over the last decade. Hitachi GLS currently operates its home appliance business mainly in Southeast Asia and the Middle East, where it enjoys a high-end brand image. The joint venture will manufacture, sell and provide after-sales services of Hitachi branded home appliances (including refrigerators, washing machines, vacuum cleaners etc.) globally outside of the Japanese market. Both partners will benefit from their complementarity in geographic coverage of sales channels and product line-ups as well as from management synergies arising from their collaboration.

The joint venture encompasses twelve Hitachi GLS group companies outside Japan (two manufacturing companies, ten sales companies) and approximately 3,800 employees. The portfolio generates a revenue of over JPY100bn in sales (approximately $1.0bn). Leveraging the sales network of Arçelik and Hitachi GLS, the joint venture will expand the sales of Hitachi branded products in Europe, South Asia and Africa as well as South East Asia and the Middle East. In addition, Arçelik and Hitachi GLS will combine their expertise in other key areas such as R&D, procurement and production systems, in order to optimize the joint venture’s global supply chain and strengthen its competitive positioning in the market.

Sustainability is at the core of both Arçelik’s and Hitachi’s strategies. Through their combined leadership in energy efficiency and sustainable solutions related to the home, the partnership will increase competitiveness around these key issues in the broader market.

Comments from Arçelik’s and Hitachi GLS’s leaders

Koç Holding (Arçelik’s parent company) Consumer Durables Group President Fatih Kemal Ebiçlioğlu
: 

“This joint venture is another significant achievement in our Silk Road strategy. The Asia-Pacific home appliances market offers a strong growth owing to a rise in the middle-class population, developing retail channels, an increase in the household income and developing lifestyles. We will combine our global expertise, with the strong market position and brand heritage of Hitachi to grasp the global and local market needs.”

Arçelik CEO Hakan Bulgurlu:

“Hitachi GLS has strong presence in Southeast Asia, offers high-end home appliances in the rapidly growing Asian market and is a strong strategic fit for Arçelik in terms of geography, brand, and products. This historic joint venture with Hitachi GLS serves as a major step in our ambitious global expansion and our journey to becoming one of the world’s top home appliances companies. This joint venture significantly advances Arçelik’s and Hitachi’s global strategies and has solid future growth prospects as it will benefit from synergies realized by the joining forces of two well-established players.”

Keiji Kojima, Executive Vice President and Executive Officer, Hitachi, Ltd. (Hitachi GLS’s parent company
):

“Today, it is a great pleasure to be able to announce the establishment of a joint venture with Arçelik, who has a solid reputation for its high quality and operational efficiency. Hitachi Group aims to contribute to the creation of a sustainable society, resolving societal issues in each region through its “Social Innovation Business,” which leverages our broad portfolio of technologies, including IT. With the pandemic caused by COVID-19, remote working is becoming the new normal, and the Hitachi GLS home appliances business, which has a mission to make home life more secure and comfortable, is strategically important for the Hitachi Group. Through the establishment of this joint venture, we look forward to contributing to the improvement of people’s quality of life (QoL) by delivering Hitachi branded home appliances to broader areas.”

Jun Taniguchi, President, Hitachi Global Life Solutions, Inc.:

“I am delighted to have agreed the establishment of a joint venture company with Arçelik. Our strategic partnership enhances the complementary relationship we have in our sales networks and product strategy. Leveraging the strengths of both companies, we will increase the competitiveness of our home appliance businesses in the global market. And through the advanced technologies of both companies, we will also strive to develop products and services that will meet the needs of the consumers and contribute to people’s QoL.”

About Arçelik

With 32,000 employees throughout the world, 12 brands (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko), sales and marketing offices in 34 countries, and 22 production facilities in 8 countries, Arçelik offers products and services in more than 145 countries. As Europe’s second largest white goods company by market share (based on volumes), Arçelik reached a consolidated turnover of 5 billion Euros in 2019. With almost 70% of its revenues coming from international markets, Arçelik is the R&D leader in Turkey – holding more than 3,000 international patent applications to date with the efforts of 1,600 researchers in 15 R&D and Design Centers in Turkey and R&D Offices across five countries. Arçelik is named the “Industry Leader” in Durable Home Appliances category for the 2nd year in a row in Dow Jones Sustainability Index 2020 and in accordance with PAS 2060 Carbon Neutrality Standard, became carbon-neutral in global production plants in 2019 and 2020 fiscal years with its own carbon credits.

www.arcelikglobal.com

About Hitachi GLS

Headquartered in Tokyo, Japan, Hitachi Global Life Solutions, Inc., is a wholly owned subsidiary of Hitachi, Ltd. that provides engineering and maintenance services for home appliances, air conditioning equipment and other equipment and devices; as well as solutions utilizing digital technologies for the sale of home appliances. Working under the slogan of “360-degrees of happiness: a happy life for each and every customer,” we seek to gain a closer understanding of customer lifestyles. By delivering well-designed functional products and sophisticated solutions to resolve individual customer lifestyle issues, through the utilization of the Hitachi Group’s value chain and digital technologies, we aspire to be a company that contributes to improving the quality of life for customers around the world.

www.hitachi-gls.com/

 

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SOURCE Arçelik

BATTLE CREEK, Mich., Dec. 16, 2020 /PRNewswire/ — At Kellogg’s manufacturing plant East of Johannesburg, the company works hard to make and distribute delicious foods that delight people throughout South Africa. But, as Kellogg Company Manufacturing Manager Enoch Mazibuko watches thousands of packages roll off the production lines each day, he is reminded that there are many people in his country who do not have regular access to any food, let alone food from Kellogg’s. Enoch shares how he and colleagues at the Springs Plant stepped up to help feed their neighbors in need as part of Kellogg’s World Food Day celebration.

Social K – Kellogg Company Blog

 
By Enoch Mazibuko

Manufacturing Manager, Springs Plant, South Africa

The COVID-19 pandemic has made it even more difficult for people in need to access food, so our team came up with a creative way to feed people while remaining safe. We created food “hampers” – reusable shopping bags, essentially – that included four bags of Corn Flakes®, three Noodles® multipacks and a Kellogg’s Better Days® branded face mask.

In all, our colleagues distributed 400 hampers.

I was honored to give mine to a family not far from our facility. Each time one of us from the plant made a donation, we posted about it on social media using the tag #MyBetterDays.

The Kellogg headquarters team took our posts and similar ones from colleagues around the world to create this impactful video.

You may have read before that Kellogg has a goal to create Better Days for 3 billion people around the world by 2030. I’m grateful that my team and I get to contribute directly to this effort every year through events like World Food Day.

It makes the food we produce in Springs that much more powerful.

To learn more about the impact of our World Food Day program, visit Kellogg’s newsroom.

About Kellogg Company
At Kellogg Company (NYSE: K), we strive to enrich and delight the world through foods and brands that matter. Our beloved brands include Pringles®, Cheez-It®, Special K®, Kellogg’s Frosted Flakes®, Pop-Tarts®, Kellogg’s Corn Flakes®, Rice Krispies®, Eggo®, Mini-Wheats®, Kashi®, RXBAR®, MorningStar Farms® and more. Net sales in 2019 were approximately $13.6 billion, comprised principally of snacks and convenience foods like cereal and frozen foods. Kellogg brands are beloved in markets around the world. We are also a company with Heart & Soul, committed to creating Better Days for 3 billion people by the end of 2030 through our Kellogg’s® Better Days global purpose platform. Visit www.KelloggCompany.com or www.OpenforBreakfast.com.

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SOURCE Kellogg Company

HAIFA, Israel, Dec. 16, 2020 /PRNewswire/ — Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (“Elbit Systems”) announced today that it was awarded an approximately $50 million follow-on contract from the Dutch Ministry of Defence (“Dutch MOD”) to supply the Royal Netherlands Army (“RNLA”) with additional digital soldier and vehicular systems, expanding the soldier modernization program of the RNLA. The contract will be performed over a three-year period.

Under the contract, Elbit Systems will supply digital soldier systems and vehicular integration of improved combat network capabilities including TORCH-X^TM Dismounted Command and Control systems and E-LynX^TM Software Defines Radio systems. The solutions to be provided were designed to address unique requirements that were presented by the Netherlands’ Defence Material Organization and field-tested by RNLA troops.

Haim Delmar, General Manager of Elbit Systems C4I & Cyber, said: “We are pleased to have been given the opportunity to continue to provide the RNLA with advanced combat network capabilities, supporting them throughout their soldier modernization program. We are looking forward to continuing our partnership with the Dutch MOD on programs that contribute to the survivability and effectiveness of the Dutch soldiers”.

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.

 

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

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SOURCE Elbit Systems Ltd.

STOCKHOLM, Dec. 16, 2020 /PRNewswire/ — Diamyd Medical and the Critical Path Institute (C-Path) are proud to announce their collaboration to significantly improve the scientific community’s insight into type 1 diabetes (T1D) through Diamyd Medical’s contribution of fully anonymized data from a European Phase III trial to the Trial Outcome Measures Initiative (TOMI) T1D integrated database.

The Phase III trial evaluated the use of the diabetes vaccine Diamyd^®, an antigen-specific immunotherapy based on the auto-antigen GAD (glutamic acid decarboxylase), to induce immunological tolerance and stop the autoimmune destruction of insulin producing cells. The Data Contribution Agreement between Diamyd Medical and C-Path will allow for this unique set of fully anonymized clinical trial data to be integrated into an ever-growing list of committed trial data sets within the TOMI-T1D project.

TOMI-T1D is an international partnership between academia, the pharmaceutical industry and nonprofit organizations. It is funded by the world’s leading charities dedicated to diabetes research, JDRF, and Diabetes UK, guided by both organizations’ strong commitment to facilitate deep interrogation of consolidated community-wide trial data as a means to accelerate clinical research and therapeutic development for T1D. TOMI-T1D aims to create a clinical trial simulation tool (CTST) with large and diverse clinical datasets from the T1D community. The project also seeks to engage the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) to identify opportunities for regulatory endorsement of such drug development tools.

The Diamyd Medical data includes relevant information about disease progression, drug effects and clinical trial design. Contribution of these robust data sets from industry led trials is critical to TOMI-T1D’s work in developing innovative and quantitative tools that can facilitate clinical development efforts and be endorsed by regulators for future use by the pharmaceutical industry to optimize the design of future clinical trials. 

“Progress towards the establishment of approved therapies for people with T1D is critically reliant on participation from our partners in industry with their data”, said Simi Ahmed and Elizabeth Robertson, on behalf of the charity partnership.

“This is indeed a right step in that direction”, said Colin Dayan, lead PI at Cardiff University.

“We are thrilled that Diamyd Medical is taking a leading role and championing precompetitive collaborations advancing type 1 diabetes regulatory science solutions”, said Inish O’Doherty Executive Director at C-Path. “Their data will help in the construction and evaluation of a clinical trial simulation tool to assist in the development of novel therapies for type 1 diabetes patients”.

“We are very honored to be part of this important collaboration -involving key stakeholders within the type 1 diabetes landscape, said Ulf Hannelius, President & CEO of Diamyd Medical. “As we are moving into an era of precision medicine in type 1 diabetes, we can expect to see significant therapeutic advances, and access to high quality data will be integral to maximizing these efforts”.

To learn more about the TOMI-T1D project visit: https://c-path.org/programs/tomi-t1d/

About Critical Path Institute

Critical Path Institute (C-Path) is an independent, nonprofit organization established in 2005 as a public and private partnership. C-Path’s mission is to catalyze the development of new approaches that advance medical innovation and regulatory science, accelerating the path to a healthier world. An international leader in forming collaborations, C-Path has established numerous global consortia that currently include more than 1,600 scientists from government and regulatory agencies, academia, patient organizations, disease foundations, and dozens of pharmaceutical and biotech companies. C-Path US is headquartered in Tucson, Arizona and C-Path, Ltd. EU is headquartered in Dublin, Ireland, with additional staff in multiple other locations. For more information, visit c-path.org and c-path.eu.

About JDRF

JDRF’s mission is to accelerate life-changing breakthroughs to cure, prevent, and treat T1D and its complications. To accomplish this, JDRF has invested more than $2.5 billion in research funding since our inception. We are an organization built on a grassroots model of people connecting in their local communities, collaborating regionally for efficiency and broader fundraising impact and uniting on a national stage to pool resources, passion and energy. We collaborate with academic institutions, policymakers and corporate and industry partners to develop and deliver a pipeline of innovative therapies to people living with T1D. Our staff and volunteers throughout the United States and our five international affiliates are dedicated to advocacy, community engagement and our vision of a world without T1D. For more information, please visit jdrf.org or follow us on Twitter: @JDRF

About Diabetes UK

1.     Diabetes UK’s aim is creating a world where diabetes can do no harm. Diabetes is the most devastating and fastest growing health crisis of our time, affecting more people than any other serious health condition in the UK – more than dementia and cancer combined. There is currently no known cure for any type of diabetes. With the right treatment, knowledge and support people living with diabetes can lead a long, full and healthy life. For more information about diabetes and the charity’s work, visit www.diabetes.org.uk  

2.     Diabetes is a condition where there is too much glucose in the blood because the body cannot use it properly. If not managed well, both type 1 and type 2 diabetes can lead to devastating complications. Diabetes is one of the leading causes of preventable sight loss in people of working age in the UK and is a major cause of lower limb amputation, kidney failure and stroke. 

3.     People with type 1 diabetes cannot produce insulin. About 10 per cent of people with diabetes have type 1. No one knows exactly what causes it, but it’s not to do with being overweight and it isn’t currently preventable. It’s the most common type of diabetes in children and young adults, starting suddenly and getting worse quickly. Type 1 diabetes is treated by daily insulin doses – taken either by injections or via an insulin pump. It is also recommended to follow a healthy diet and take regular physical activity.

4.     People with type 2 diabetes don’t produce enough insulin or the insulin they produce doesn’t work properly (known as insulin resistance). Around 90 per cent of people with diabetes have type 2. They might get type 2 diabetes because of their family history, age and ethnic background puts them at increased risk. They are also more likely to get type 2 diabetes if they are overweight. It starts gradually, usually later in life, and it can be years before they realise they have it. Type 2 diabetes is treated with a healthy diet and increased physical activity. In addition, tablets and/or insulin can be required. 

For more information on reporting on diabetes, download our journalists’ guide: Diabetes in the News: A Guide for Journalists on Reporting on Diabetes (PDF, 3MB).

About Diamyd Medical

Diamyd Medical develops therapies for type 1 diabetes. The diabetes vaccine Diamyd^® is an antigen-specific immunotherapy for the preservation of endogenous insulin production. Significant results have been shown  in a genetically predefined patient group in a large-scale metastudy as well as in the Company’s European Phase IIb trial DIAGNODE-2, where the diabetes vaccine is administered directly into a lymph node in children and young adults with newly diagnosed type 1 diabetes. A new facility for vaccine manufacturing is being set up in Umeå for the manufacture of recombinant GAD65, the active ingredient in the therapeutic diabetes vaccine Diamyd^®. Diamyd Medical also develops the GABA-based investigational drug Remygen^® as a therapy for regeneration of endogenous insulin production and to improve hormonal response to hypoglycaemia. An investigator-initiated Remygen^® trial in patients living with type 1 diabetes for more than five years is ongoing at Uppsala University Hospital. Diamyd Medical is one of the major shareholders in the stem cell company NextCell Pharma AB.

Diamyd Medical’s B-share is traded on Nasdaq First North Growth Market under the ticker DMYD B. FNCA Sweden AB is the Company’s Certified Adviser; phone: +46 8-528 00 399, e-mail: [email protected]

CONTACT:

For further information, please contact:

Ulf Hannelius, President and CEO

Phone: +46 736 35 42 41

E-mail: [email protected]

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/diamyd-medical-ab/r/diamyd-medical-and-critical-path-institute-announce-data-sharing-collaboration-to-develop-advanced-d,c3255392

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SOURCE Diamyd Medical AB

HAIFA, Israel, Dec. 16, 2020 /PRNewswire/ — Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (“Elbit Systems” or “the Company”) announced today that it was awarded an approximately $15 million initial contract from the Dutch Ministry of Defense to supply XACT nv32 micro night vision monocular systems for the Armed Forces of the Netherlands. The initial contract will be performed over a period of two-years, with the potential for additional follow-on orders over a period of seven-years.

This contract award joins previous contracts in the Netherlands in the fields of digital soldier systems and network-combat warfare systems, most notably for the VOSS program.

Compact and light weight, with a flip-up head/helmet adapter, XACT nv32 provides high resolution images under adverse conditions while minimizing Line-Of-Sight deviation and is suitable for mounted and dismounted soldiers, Special Forces and law-enforcement teams. Elbit Systems’ XACT product family is already operational with a number of NATO countries, including Germany, as well as with the Israeli and the Australian Armed Forces.

Elad Aharonson, General Manager of Elbit Systems ISTAR, commented: “This contract award follows a number of important contracts awarded to Elbit Systems in recent years in the Netherlands. We see the Netherlands as a key market for Elbit Systems, and we intend to continue strengthening our local industrial cooperation and investments in the Netherlands in the years to come”.

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Youtube Channel.

Contacts:

 

View original content:http://www.prnewswire.com/news-releases/elbit-systems-awarded-a-15-million-contract-to-supply-xact-nv32-micro-night-vision-systems-to-the-netherlands-armed-forces-301193790.html

SOURCE Elbit Systems Ltd.