Alta Partners with Scenic to Enable Enhanced Access to Booming Secondaries Space

The Scenic Private Access Fund (SPA) provides exclusive access to late-stage technology companies with proven commercial success, offering risk-adjusted returns of 2-3x over the 4 year lifecycle of the fund
Alta experienced a significant surge in its secondary order volumes, reaching up to 300% in the previous year.
Today, the secondary market offers some unique opportunities to access renowned private companies such as ByteDance, Revolut, SpaceX and Epic Games.

SINGAPORE, Apr 2, 2024 – (ACN Newswire) – Alta Alternative Investments (Alta), Southeast Asia’s leading digital securities exchange for alternative assets, has partnered with US-based investment adviser Scenic Management LLC (Scenic) to launch the Scenic Private Access (SPA) Fund on its platform, enabling access to direct venture secondaries to its global investor community.

Through the SPA fund, Alta will provide direct access to late stage, VC-backed companies that have proven technology and commercially successful products. Later-stage companies typically have reduced risk profiles as compared to early-stage venture capital opportunities. According to Scenic, the SPA fund has the potential to offer risk-reduced returns of 2-3x over the 4 year lifecycle of the fund

“The value of secondary transactions may triple over the next seven years, from $114 billion in 2023 to $417 billion in 2030. At Alta too we saw a year-on-year increase of over 300 per cent in order volume on our secondary platform. This partnership with Scenic adds to the vibrant secondaries opportunities on our platform, providing our â€‹â€‹investor community with an exclusive and compelling option to invest in the booming secondaries space for wealth creation”, said Yifei Li, Managing Director, Head of Client Business, Alta.

Since emerging, Asia’s secondary market has matched global trends, comprising 5-10% of global volumes, akin to Asia’s representation in primary capital raised globally. In 2022, as aggregate exit values in Asia declined sharply, secondaries constituted 22% of total private equity exits in the region, indicating its rising significance for liquidity. According to consultancy firm EY, secondaries will become a popular exit choice in Southeast Asia for private equity (PE) firms in 2024, after an overall slowdown in the exit landscape last year.

Besides the Scenic Private Access Fund, TikTok’s parent company ByteDance, Epic Games, SpaceX and Revolut are some of the many high-profile private companies that have become easily accessible to investors through secondary deals.

Through secondaries, investors would be able to tap on significant tangible value increases by investing in a business that is in a later stage of maturity, where the business would have discovered how to reliably and sustainably generate revenue and profits.

Mark K Norbury, Managing Director and Head of Investor Relations and Co-invest at Scenic added, “Partnering with Alta marks a significant stride in our mission to create value for investors by exploring forward-thinking solutions. As we explore new horizons in private markets, we are excited about the prospects of expanding access to unique private market opportunities and allowing investors to invest in secondary opportunities in highly sought-after pre-IPO private companies. Alta’s proven track record and comprehensive approach to alternative assets complement our vision for a dynamic, interconnected marketplace. Together, we look forward to opening up new avenues for investors seeking new investment opportunities.”

In an era marked by evolving investor demands for liquidity and portfolio diversification, Alta provides diverse investment opportunities in private capital markets, including a wide range of alternative assets. Earlier in January, Alta launched a unique liquidity program for shareholders of Income Insurance Limited, a leading Singaporean insurer. This marked the largest listing of a non-public company on a private securities exchange, enabling institutional and accredited investors to trade and own shares of a non-publicly listed company.

About Alta

We’re Building the Future of Capital Markets

As Southeast Asia’s largest licensed digital securities exchange for alternative investments, we believe that access to capital markets are pivotal in all economies and recognize that our role in building this critical infrastructure goes beyond facilitating trades; it paves the way for entrepreneurship, job creation, financial inclusion, and economic resilience, fostering a brighter future for emerging markets and economies.

Empowering Private Markets: Through our Digital Exchange, we enable the tokenization and digital custody of alternative assets. This end-to-end solution simplifies and expedites the trading of smaller asset blocks, ultimately facilitating access and liquidity in private markets.

Innovative Financial Ecosystem: Our journey has seen us transition from securities trading and distribution of comprehensive products, including equities, private credit, funds, and asset-backed securities (ABS) (representing Real World Assets (“RWA”) like whiskies, wines, art, watches, and real estate) to include fund management and digital custody services.

Established in 2016 and headquartered in Singapore, Alta operates offices globally and is the only integrated securities exchange, brokerage, and fund management group in Southeast Asia.

Visit us on https://alta.exchange/

About Scenic Management LLC

Scenic Management LLC is Scenic’s fund management business. Scenic was founded in 2013 and was built by a team with decades of experience and billions of dollars of transaction volume in pre-IPO equities of leading venture-backed companies. We apply a systematic, quantitative approach to private markets that leverages proprietary data. We specialize in short-duration vehicles and employ a disciplined investing approach that delivers value within growth. Our funds provide diversified exposure to highly performing businesses at exceptional valuations for sophisticated investors. Headquartered in San Francisco, Scenic serves companies, shareholders, and investors globally.

For media inquiries, please contact:
PRecious Communications for Alta
alta@preciouscomms.com

Ahead of Big CIO Show 2024: Cross — Industry Commitments Highlight Tech Investment Surge

BENGALURU, INDIA, Apr 2, 2024 – (ACN Newswire) – As the anticipation builds for the 13th edition of the Big CIO Show & Awards, an event organised by Trescon, the registration of over 600+ C-level executives underscores the pivotal role of cutting-edge technologies in driving India’s digital transformation and revolutionizing key economic sectors. Taking place at the Sheraton Grand Hotel in Whitefield, Bengaluru, this event is a critical juncture for thought leaders and industry veterans to converge, share insights, and engage in discussions about the next wave of technological innovation.

The Information Technology and Services sector remains at the forefront of adopting transformative technologies, with significant investments over US$ 1 million dedicated to driving advancements, reinforcing its role in shaping a digital future.

The Big CIO Show & Awards draws sectors beyond IT, like Automation, Healthcare, Financial Services, Retail, Manufacturing, Aviation, Aerospace, Automotive, and Banking, signaling a collective push for digital progress. Each sector allocates budgets from US $50K to over US$1 million for tech investments, showcasing a unified commitment to digital transformation. This underscores the event’s significance as a platform for collaboration and technological advancement.

#BigCIO offers a comprehensive agenda with engaging keynote speeches, use-case presentations, and insightful panel discussions on topics encompassing emerging technologies, utilising low-code/no-code platforms, generative AI, and more.

Among the notable speakers at the event are:

Kirti Patil, Chief Technology Officer, Kotak Mahindra Life Insurance Company
Krishnan Venkateswaran, Chief Digital & Information Officer, Titan Company Ltd
Shruti Kashyap, Chief Information Officer, Unilever
Venkatesh Bhardwaj, Chief Technology Officer, MakeMyTrip
Bhuwan Lodha, Senior Vice President & Head of Digital, Mahindra & Mahindra
Monish Kaul: Chief Product & Technology Officer, Zivame
Ashish Bansal, Director / Sr. Principal, Global Products & Technology Operations Leader, GlaxoSmithKline (GSK)
Neeraj Chopra, Chief Product and Technology Officer (CPTO), Walmart India, Flipkart Wholesale

The show will also host the ‘Big CIO 50 Innovators Awards’ and the ‘Big CIO 50 Leaders Awards’ where industry savants will be honored for their efforts and contributions to the technology eco-space. The registration for the Big CIO Show & Awards is now open. Dive deep into the world of emerging technologies as you forge partnerships and gain actionable insights at the event. To book your tickets, visit https://bigcioshow.com/

About Trescon

Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership. With a deep understanding of the realities and requirements of the growth markets we operate in – we strive to deliver innovative and high-quality business platforms for our clients. For more information about Trescon, visit: www.tresconglobal.com.

For media inquiries and further information, please contact:
Vishal S S
Media, PR and Corporate Communications Executive
Trescon
Email: vishals@tresconglobal.com
Mobile: +91-7358680951

Discover the potential of Voice AI at the 3rd Edition SpeechTech Summit Middle East 2024

DUBAI, Apr 2, 2024 – (ACN Newswire) – 3rd Edition of SpeechTech Summit Middle East confirmed to be hosted on 12-13 June 2024 at Crowne Plaza, Dubai will bring together 500+ industry executives, developers, customer experience professionals and adopters of voice bot technology and speech analytics from 5 prominent countries in the Middle Eastern market. The summit will reflect the latest tendencies and recent application changes in the Voice Recognition space in the Middle Eastern market. Discover voice technology applications in all industry sectors, from BFSI, Hospitality, Retail, Healthcare and much more.

Reasons to attend:

2 days of powerful industry panel discussions, workshops and presentations, on current status and future strategies of speech technology.
Latest trends and tools on voice assistance and chatbots.
20 National and International speakers sharing their thoughts on future of voice technology in the Middle Eastern market.
Understand how the latest developments in voice technology are being implemented in the Middle east.
Network with leaders across multiple sectors and discover the blueprint for transforming your business.
The future of voice in the Middle East and the use of voice and chat bot technology for better customer experience.
Leveraging chatbots in financial services.
Companies, strategies and investment to adopt conversational machines.
How technologies such as AI can improvise voice recognition.
Innovative technologies and trends in speech technology.

Key Topics to be covered:

The current state of Voice Technology and the future perspective
The Emerging Trends in Voice Search
Digital Voice Assistants and Future of in-Vehicle Control
The Rise of Voice Assistants in The Banking Industry
Overcoming The Problem of Voice Discovery – Strategies for A Voice-First Future
Crawl, Walk, Run Approach to Implementing Voice AI
How Voice Technology is Transforming Customer Support
The Advantages of Voice Recognition for the Retail and E-Commerce Industry
Ethics & Privacy in Voice Technology

Voice technology and conversational AI are now becoming pervasive in routine applications in most business sectors, in both B2B & B2C applications, in financial services such as banking, credit cards and insurance, as well as in many other business and consumer interactions in healthcare, hospitality, retail, commercial, industrial and manufacturing sectors, especially in client care, customer service and ordering. Attend the only B2B VoiceTech conference and expo and delve into the world of Voice AI.

For more information, visit https://speechtechme.com/.

Media contact:
Rishav Saha
Mobile – +91 8884144691
Email – contact@thefuture-event.com
Grab your Tickets here – https://speechtechme.com/book-tickets

VC Holdings Announces 2023 Annual Results

HONG KONG, Apr 2, 2024 – (ACN Newswire) – Value Convergence Holdings Limited (“VC Holdings”, together with its subsidiaries, the “Group”; Stock Code: 0821.HK), a well-established and one-stop financial services institution in Hong Kong, is pleased to announce its audited annual results for the year ended 31 December 2023 (the “Reporting Year”). During the Reporting Year, the Group achieved improvement in its newly-acquired asset management business, and also in its insurance brokerage and digital assets businesses. Meanwhile, the Group made a breakthrough by entering mainland China’s promising natural gas industry.

During the Reporting Year, the Group managed to achieve progress in business diversification amid market volatility, while the expansion of asset management, insurance brokerage and digital assets businesses contributed to a moderate rise in the Group’s revenue. During the Reporting Year, the Group’s consolidated revenue increased by about 3.9% year on year to approximately HK$76.1 million (2022: approximately HK$73.3 million). Despite the Group implemented stringent cost control measures, the Group recorded a bigger loss during the Reporting Year than it did during the previous year, due to a one-off share-based payment expense, devaluation of proprietary holding value and higher impairment losses on accounts receivable. Loss for the year amounted to approximately HK$288.2 million (2022: loss for the year of HK$178.1 million). Basic loss per share was HK12.05 cents (2022: basic loss per share of HK8.57 cents).

Mr. Peter Fu, Chairman and Executive Director of Value Convergence Holdings Limited, said, “In 2023, the momentum of growth slowed and was uneven worldwide against a backdrop of interest rate increases, unprecedented monetary policy tightening to combat the highest inflation in decades, and geopolitical conflict. In Hong Kong, the financial landscape was subject to significant market volatility, with a notable decline in stock prices, amid which the Hang Seng Index recorded an unprecedented fourth consecutive year of decline. The difficulties of recent years continued to affect capital markets in both mainland China and Hong Kong, which experienced a succession of challenges that inevitably affected the Group’s business operations. In view of market volatility, the Group adopted stringent cost control measures and stepped up its business diversification efforts to mitigate operational risks, while certain business segments have started to bear fruit.”

Business Overview

Financial Services Business

During the Reporting Year, with its persistent efforts to diversify its business, the contribution of the Group’s traditional brokerage and financing businesses to its total revenue further declined to approximately 79%. The Group maintained its provision of various financial services, including local and overseas securities trading, derivatives and trading in other structured products, placements, underwriting, and margin financing through VC Brokerage Limited (“VC Brokerage”). Additionally, the Group offered financing services through VC Finance Limited (“VC Finance”). The Group also took on the role of placing agent and underwriter for fundraising activities of Hong Kong-listed companies. It provided a range of financial and strategic advisory support services to clients, including offering corporate finance and other advisory services such as mergers and acquisitions advisory through VC Capital Limited (“VC Capital”) and company secretarial services through VC Corporate Services Limited (“VCCS”). Due to market volatility, the Group’s brokerage commissions, underwriting, sub-underwriting, placing and sub-placing commissions declined notably, alongside corporate finance and other advisory fees, resulting in a reduction in segmental revenue.

Following the completed acquisition of VC International Asset Management Limited (“VCIAM”; formerly known as “Anli Asset Management Limited”) and Anli Investment Fund SPC (“AIF”) in April 2023, the Group observed an encouraging expansion in its asset management operations that began to generate revenue. The Group also continued to spearhead the expansion of its insurance brokerage services through Experts Management Limited, which possesses an insurance brokerage license and is authorised to participate in the long-term insurance market. Capturing the opportunities arising from the reopening of the Hong Kong and mainland China borders, the Group’s senior management team proactively reached out and attracted more clientele from mainland China, and the Group’s insurance brokerage segment also began to have revenue contribution.

Proprietary Trading Business

The Group held financial assets for trading, comprising equity securities listed in Hong Kong, worth approximately HK$155.1 million as of 31 December 2023, against the backdrop of a poor-performing equity market and bearish investor sentiment. During the Reporting Year, the Group held stocks mainly in industrial, which tumbled on weak corporate earnings.

Digital Assets Business

During the Reporting Year, by expanding sales and marketing efforts in digital assets segment, the Group sought to leverage the potential of the growing market and capitalise on increasing demand. Thanks to improved sales, the sales and marketing of digital assets business enjoyed a revenue increase during the Reporting Year.

Outlook

Looking ahead, the anticipated global economic outlook for 2024 is multifaceted, with various factors influencing the path of expansion. On a positive note, the Chinese government implemented a wide range of measures to encourage institutional and individual stock purchases in early 2024, while the Hong Kong government also committed to boost financial markets through expanding the Stock Connect scheme and deepening co-operation with Middle Eastern and ASEAN countries.

To further strengthen its market position, in addition to enhancing its insurance brokerage and sales and marketing of digital assets businesses, the Group plans to adopt strategic initiatives and allocate additional resources to the development of its asset management business, expanding into private equity in 2024.

To further enrich its investment portfolio and expand its income sources, the Group proposed to acquire a 24% equity interest in Zhanhua Jiutai Gas Co., Ltd.* (“Zhanhua Jiutai Gas”) in 2024, at the consideration of HK$30 million by the issue of consideration convertible bonds. As a profit guarantee, the net income after tax of Zhanhua Jiutai Gas during the year ended 31 December 2024 shall not be less than HK$20 million. Leveraging its position and resource advantages in the Zhanhua district natural gas market in Shandong Province, and with its main business benefiting from mainland China’s environmental protection policies, Zhanhua Jiutai Gas enjoys extensive business opportunities and prospects. It is believed that Zhanhua Jiutai Gas will realise further growth and provide a stable source of income for the Group in the future.

Mr. Fu concluded, “We believe that the Group’s investment in the natural gas industry will capture significant market opportunities and create a highly lucrative recurring revenue stream, bringing new impetus for the Group’s sustainable development in the ever-changing and competitive markets in which it operates. With substantial efforts being made to drive growth in various parts of our operations, our longstanding ties with clients, and a healthy and balanced investment portfolio, we will continue to advance our development and create long-term shareholder value.”

* For identification purposes only

About VC Holdings Limited

Value Convergence Holdings Limited (Stock code: 0821.HK) was listed on the GEM board of Hong Kong Stock Exchange in 2001, and completed transfer of listing to the Main Board in 2008. Being a well-established financial services group committed to delivering premier financial services and products in the Great China region, the Group’s services include (i) provision of financial services comprising securities and options brokering and dealing, financing services, corporate finance and other advisory services, asset management and insurance brokerage; (ii) proprietary trading; and (iii) sale and marketing of digital assets.

For more details, please visit www.vcgroup.com.hk.

BLUETTI AC240 Launches in Australia: The Ultimate All-Weather Power Solution

SYDNEY, AU, Apr 2, 2024 – (ACN Newswire) – BLUETTI, a leading provider of green energy storage solutions, will introduce the newBLUETTI AC240 to the Australian market on April 2nd at 13:00 local time. The AC240 promises to be the go-to power solution for outdoor enthusiasts with IP65 water resistance and dustproofing for reliable performance in any climate.

IP65 Dustproofing and Water Resistance

Designed to withstand harsh conditions, the BLUETTI AC240 is dust-proof and resistant to low-pressure water jets. This level of protection ensures an uninterrupted power supply during outdoor activities such as beach camping, overland adventures, and marine excursions. The AC240’s resilience is based on several of BLUETTI’s advanced designs, including independent air ducts and sealed compartments.

Versatile Power for Every Adventure

With an impressive 2,400W output and 1,536Wh LFP battery, the AC240 offers versatile power solutions for a variety of outdoor adventures. Whether it’s sailing at sea or living off the grid, the AC240 can power essential appliances such as refrigerators, air conditioners, and coffee makers. Its efficient 1,200W solar charging capability, combined with multiple outputs, allows for seamless integration into RV or boat power systems, ensuring self-sustained adventures.

Disaster Prevention Backup Power

In the event of weather-related power outages in Australia, such as those caused by tropical storms, the AC240 serves as a reliable backup power source. The expandable battery capacity of up to 10,136Wh with BLUETTI’s B210 battery packs provides uninterrupted power during emergencies. Its lightning-fast UPS feature powers up critical equipment within 15 milliseconds of a power outage for peace of mind.

Durable and Intelligent Power Solution

Crafted to last, the AC240 features a reliable lithium iron phosphate battery and BLUETOPUS AI-powered battery management system for optimal performance over about a decade. Supported by app control and backed by a 6-year warranty, the AC240 guarantees reliable service for years to come.

Availability and Pricing

The BLUETTI AC240 will be sold on BLUETTI’s official website and Amazon store starting April 2nd, 13:00, with an exclusive early bird price of A$2499.

About BLUETTI

Committed to a sustainable future, BLUETTI provides affordable green energy storage solutions for both indoor and outdoor use. Through initiatives like the LAAF (Lighting An African Family) program, BLUETTI has empowered over 100,000 African families in off-grid regions. With a dedication to innovation and addressing customer needs, BLUETTI has established itself as a trusted industry leader across more than 100 countries worldwide.

CONTACT:
Bluetti Power Inc
pr@bluetti.com

SOURCE: Bluetti Power Inc.

SGX-Listed Mooreast Secures Anchor Order for Floating Offshore Wind Project in Southern France

SINGAPORE, Apr 2, 2024 – (ACN Newswire) – Mooreast Holdings Ltd. (“Mooreast” or the “Group”) has secured an order to supply its proprietary anchors for a pre-commercial floating offshore wind farm. Located off the French coast of Port-La Nouvelle and Gruissan in Southern France, Eolmed is a project developed by Qair, a European independent energy company, with TotalEnergies and floating technology supplier BW Ideol.

Mooreast and Bourbon Offshore at the first steel cut ceremony; Mooreast will supply its MA5S mooring drag anchors to the biggest of the first three floating wind energy projects in France

Singapore Exchange-listed Mooreast, a total mooring solutions specialist and Asia’s only ultra-high power anchor manufacturer, announced today that it has partnered with French Installation Contractor Bourbon Offshore to supply Mooreast’s MA5S mooring drag anchors. The latter will provide transport and installation services to the 30MW pre-commercial project, which is the biggest of the first three floating wind energy projects to be developed in the country.

Up to 35 tonnes each, the anchors command a holding power of up to 1,210 metric tonnes, underscoring its remarkable strength-to-weight ratio and efficiency. The anchors will be used to moor three floating wind turbines. The anchors are expected to be delivered by October 2024, and the order will contribute positively to Mooreast’s FY2024 performance.

Singapore-based Mooreast is leveraging more than 30 years of mooring and offshore marine expertise to target the floating offshore wind sector worldwide. The fresh order marks Mooreast’s 15th offshore wind-related project since undertaking its first project in 2013, underscoring its strong track record in the emerging sector.

Apart from specialist anchors and equipment, Mooreast also offers geotechnical and geophysical studies such as soil data analysis to determine project feasibility and engineering design for mooring configuration for floating wind turbines.

The anchors will be manufactured at Mooreast’s yard at 51 Shipyard Road, Singapore, where the Group has also developed a range of anchors, chain stoppers and buoys to moor floating platforms.

Mr Sim Koon Lam, founder, Executive Director, CEO and Deputy Chairman of Mooreast, said, “The project win in France underscores the growing confidence that international players in the floating renewable industry have in us. The European floating wind energy sector is known for its rigorous standards and we are proud that Mooreast is able to achieve market acceptance in this region.”

“Already, we are in active discussions with several project developers looking to tap into our expertise and capacity for subsea foundation production. As more floating wind farms gain traction, Mooreast can add value through its specialist solutions and products. We are establishing a manufacturing facility in Aberdeen, Scotland, in addition to our regional marketing office in the Netherlands. We remain focused on offering differentiated value even as we see to capture more opportunities in the near future in this exciting sector.”

None of the Directors or substantial shareholders of the Group, as well as their respective associates, has any interest (direct or indirect) in this new project, other than through their shareholdings in the Group.

This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, W Capital Markets Pte. Ltd. (the “Sponsor”). This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Ms Alicia Chang, Registered Professional, W Capital Markets Pte. Ltd., at 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3525.

Issued for and on behalf of Mooreast Holdings Ltd. by WeR1 Consultants Pte Ltd.

About Mooreast Holdings Ltd.

Mooreast is a total mooring solutions specialist, serving mainly the offshore oil & gas (“O&G”), marine and offshore renewable energy industries, with operations primarily in Singapore, the Netherlands through its wholly-owned subsidiary in Rotterdam Mooreast Europe, and the United Kingdom through Mooreast UK, an office based in Scotland.

Mooreast’s solutions include the design, engineering, fabrication, supply and logistics, installation and commissioning of mooring systems. Mooreast is applying its experience and expertise in mooring solutions to floating renewable energy projects, in particular floating offshore wind farms. It has successfully participated in developmental and prototype projects for floating offshore wind turbines in Japan and Europe.

For more information, please visit https://mooreast.com/

Media & Investor Contact Information
WeR1 Consultants Pte Ltd
1 Raffles Place #02-01
One Raffles Place Mall Suite 332
Singapore 048616
Isaac Tang, mooreast@wer1.net (M: +65 9748 0688)

CMS and Incyte Announce Collaboration and License Agreement for Povorcitinib in China and Southeast Asia

HONG KONG, China and WILMINGTON, Del., Apr 1, 2024 – (ACN Newswire) – China Medical System Holdings Limited (“CMS” or the “Group”) and Incyte (Nasdaq:INCY) (“Incyte”) are pleased to announce that on 31 March 2024, that the Group, through a wholly-owned dermatology medical aesthetic subsidiary of the Company (“CMS Skinhealth”), and Incyte entered into a Collaboration and License Agreement for the development and commercialization of povorcitinib (the “Product”), a selective oral JAK1 inhibitor, to research, develop, register and commercialize the Product in Mainland China, Hong Kong, Macao, Taiwan Region and eleven Southeast Asian countries (the “Territory”) and a non-exclusive license to manufacture the Product in CMS’ Territory.

Under the terms of the agreement, CMS will make an upfront payment to Incyte and Incyte is eligible to receive additional potential development and commercial milestones and royalties on net sales of the licensed product in CMS’ territory.

CMS will receive an exclusive license to develop and commercialize and a non-exclusive license to manufacture povorcitinib in autoimmune and inflammatory dermatologic diseases, including non-segmental vitiligo, hidradenitis suppurativa (HS), prurigo nodularis (PN), asthma and chronic spontaneous urticaria, for patients in mainland China, Hong Kong, Macau, Taiwan and certain countries in Southeast Asia.

“We are excited to announce the addition of this collaboration for povorcitinib, expanding our relationship with CMS in the Dermatology space beyond ruxolitinib cream, to include two products with the potential to help patients with limited treatment options,” said Herve Hoppenot, Chief Executive Officer, Incyte. “There remains a significant need for new, innovative treatment for vitiligo and other immune-mediated dermatologic conditions, and we look forward to working together with the CMS team to bringing these products to market in China.”

Mr. Huang Anjun, the general manager of CMS Skinhealth, stated that, “We expect that this collaboration will enhance CMS Skinhealth’s portfolio of potential treatments for vitiligo that, if approved, will provide differentiated treatment options for vitiligo patients in China. Upon approval, povorcitinib is poised to synergize with the innovative drugs in the commercialization stage of our pipeline ILUMETRI (tildrakizumab injection), original drugs including Hirudoid (mucopolysaccharide polysulfate cream) and Aethoxysklerol (polidocanol injection) in terms of our network and market resources, which will help the Product to realize its clinical and commercial value.”

The transaction is effective immediately upon the execution of the Collaboration and License Agreement.

About Povorcitinib

Povorcitinib is a selective oral small-molecule JAK1 inhibitor, with compound and use patents in certain countries/regions in the Territory. Currently, povorcitinib is in Phase 3 clinical trials for non-segmental vitiligo and HS in multiple countries outside of China. Additionally, Phase 2 clinical studies of povorcitinib for PN, asthma and chronic spontaneous urticaria are also ongoing.

About Vitiligo

Vitiligo is a chronic autoimmune disease characterized by depigmentation of the skin, which results from the loss of pigment-producing cells known as melanocytes. Overactivity of the JAK signaling pathway is believed to drive inflammation involved in the pathogenesis and progression of vitiligo.

It is estimated that there are approximately 14 million vitiligo patients in China and 6.5 million in the eleven Southeast Asian countries respectively. Non-segmental vitiligo patients account for approximately 85% of them[1]. Vitiligo can occur at any age, although many patients with vitiligo will experience initial onset before the age of 30[2]. Currently, therapeutic options for vitiligo are limited, and the condition is difficult to treat, especially for patients with moderate to severe extensive vitiligo.

About Hidradenitis Suppurativa (HS)

HS is a chronic recurrent inflammatory skin condition characterized by the presence of painful inflammatory nodules, abscesses, ruptures, as well as the formation of sinus tracts and scarring. Overactivity of the JAK signaling pathway is believed to drive inflammation involved in the pathogenesis and progression of HS[3].

It is estimated that there are approximately 470 thousand HS patients in China, about 75% of whom are moderate to severe patients[4]. Additionally, it is estimated that there are approximately 13 thousand HS patients in the six Southeast Asian countries, comprising Thailand, Singapore, Malaysia, Philippine, Vietnam and Indonesia. HS has been included in the second batch of the Rare Disease List in China. Given the debilitating nature of condition, it can have a profoundly negative effect on patients’ quality of life. However, currently in China, there are no biologics or small molecule medicines approved by the National Medical Products Administration for the treatment of HS, creating an urgent need for effective therapeutic options[5].

About CMS Skinhealth

CMS’s Dermatology and Medical Aesthetic Business “CMS Skinhealth” regards dermatology prescription products as its core, and extends to dermatology-grade skincare products and light medical aesthetic products, continually optimizing full lifecycle skin-health management solutions, and gradually moving toward becoming “the largest and most professional skin-health management company in China “. Relying on its strong clinical development and commercialization advantages, CMS will realize the commercialization of povorcitinib in the Territory as soon as possible to meet the clinical needs of oral vitiligo drugs with efficacy and benefit relevant patients.

About Incyte

A global biopharmaceutical company on a mission to Solve On., Incyte follows the science to find solutions for patients with unmet medical needs. Through the discovery, development and commercialization of proprietary therapeutics, Incyte has established a portfolio of first-in-class medicines for patients and a strong pipeline of products in Oncology and Inflammation & Autoimmunity. Headquartered in Wilmington, Delaware, Incyte has operations in North America, Europe and Asia.

For additional information on Incyte, please visit Incyte.com or follow us on social media: LinkedIn, X, Instagram, Facebook, YouTube.

About CMS

CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.

CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.

CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development of its advantageous specialty fields and expand business boundaries. While strengthening the competitiveness of the cardio-cerebrovascular/gastroenterology business, CMS independently operates its dermatology and medical aesthetics business, and ophthalmology business, aiming to gain leading positions in specialty therapeutic fields, whilst enhancing the scale and efficiency. At the same time, CMS has expanded its business territory to the Southeast Asian market, striving to become a “bridgehead” for global pharmaceutical companies to enter the Southeast Asian market, further escorting the sustainable and healthy development of the Group.

Incyte Forward-Looking Statements

Except for the historical information set forth herein, the matters set forth in this press release, including statements regarding whether and when povorcitinib will be approved for use in mainland China, Hong Kong, Macau, Taiwan or Southeast Asia; whether and when CMS will bring povorcitinib to market in mainland China, Hong Kong, Macau, Taiwan or Southeast Asia; the potential of povorcitinib to treat patients with vitiligo, hidradenitis superativa or for any other indication; the potential for Incyte to receive royalties and payments from CMS for development and commercial milestones; and the potential for Incyte to broaden its ability to bring new medicines to patients in Asia and elsewhere, contain predictions, estimates and other forward-looking statements.

These forward-looking statements are based on Incyte’s current expectations and are subject to risks and uncertainties that may cause actual results to differ materially, including unanticipated developments in and risks related to: unanticipated delays; further research and development and the results of clinical trials possibly being unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development; the ability to enroll sufficient numbers of subjects in clinical trials; Incyte’s dependence on its relationships with its collaboration partners; the efficacy or safety of Incyte’s products and the products of its collaboration partners; the acceptance of Incyte’s products and the products of its collaboration partners in the marketplace; market competition; sales, marketing, manufacturing and distribution requirements; and other risks detailed from time to time in Incyte’s reports filed with the Securities and Exchange Commission, including our quarterly report on Form 10-Q for the quarter ended December 31, 2023. Incyte disclaims any intent or obligation to update these forward-looking statements.

CMS Forward-Looking Statements

This press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.

This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. This press release may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of or any omission from this press release is expressly excluded.

Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. The Group assumes no obligation to update any forward-looking information contained in this press release. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.

Contacts:
CMS
Investor Relations: ir@cms.net.cn

Incyte
Media: media@incyte.com
Investors: ir@incyte.com

Reference

1. Ezzedine K, Eleftheriadou V, Whitton M, van Geel N. Vitiligo. Lancet. 2015 Jul 4;386(9988):74-84. doi: 10.1016/S0140-6736(14)60763-7. Epub 2015 Jan 15. PMID: 25596811

2. Frisoli M, et al. Vitiligo: mechanisms of pathogenesis and treatment. Annu. Rev. Immunol. 2020;38(1):621-648

3. Solimani, F., Meier, K., & Ghoreschi, K. (2019). Emerging topical and systemic JAK inhibitors in dermatology. Frontiers in immunology, 10, 2847

4. Prevalence of Acne Inversa (Hidradenitis Suppurativa) in China: A Nationwide Cross-Sectional Epidemiological Study

5. Diagnosis and treatment of acne inversa/hidradenitis suppurativa in China: an expert consensus statement (2021 version)

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Brand: China Medical System Holdings Ltd.
Contact: CMS Investor Relations
Website: https://web.cms.net.cn/en/home/

Source: China Medical System Holdings Ltd.

3rd Annual Middle East Women Leaders’ Summit & Awards KSA 2024: Empowering Women, Shaping Futures

RIYADH, Apr 1, 2024 – (ACN Newswire) – The 3rd Annual Middle East Women Leaders’ Summit & Awards KSA 2024 is poised to be a transformative gathering, scheduled to take place on May 14-15, 2024, at the prestigious venue in Riyadh, Kingdom of Saudi Arabia. Organized by Verve Management, this groundbreaking event aims to celebrate the resilience and achievements of women leaders while championing a new era of empowerment and equality.

Under the theme of “Empowering Women: Kingdom’s Transformation Through Equality & Opportunity,” the summit promises to transcend conventional discussions on women’s empowerment. It seeks to create an ecosystem where women from diverse backgrounds can thrive together, moving beyond traditional paradigms to challenge and reshape societal norms.

The summit will feature insightful discussions, engaging workshops, and inspirational talks by prominent women achievers from various sectors. Attendees can expect to gain invaluable insights into the challenges faced by women in the workforce, exchange knowledge and best practices, and forge meaningful connections with fellow leaders committed to driving positive change.

Confirmed speakers for the summit include distinguished individuals such as Her Royal Highness Princess Abeer Al Saud, whose presence underscores the significance of the event in the region. Additionally, notable figures such as Maha Shirah, Founder and CEO of Sheworks, Julie Barbier-Leblan, CEO & Co-founder of Merit Incentives, andSouhair AlQaisi, CEO of Quantum Star, will share their insights and experiences, inspiring attendees with their journeys of success and empowerment.

The 3rd Annual Middle East Women Leaders’ Summit & Awards KSA 2024 promises to be a landmark event in the journey towards gender equality and women’s empowerment in the region. Join us as we celebrate women leaders who have shattered the glass ceiling and continue to inspire the next generation of leaders.

For more information and registration details, visit KSAMENAWomenLeaders.com.

Media contact:
Hawa Bezan
hawa@verve-management.com
Marketing Executive
Verve Management

Presto Embarks on Regional Market Expansion: Bringing Innovative Loyalty to E-Commerce Redemption Ecosystem to Singapore and Thailand

KUALA LUMPUR, Apr 1, 2024 – (ACN Newswire) – Presto, renowned as Malaysia’s First Loyalty E-commerce Aggregator, is proud to announce its strategic expansion into the Singapore and Thailand market. The setting up of Presto operations in these countries marks the start of the company’s regional expansion, bringing its innovative loyalty to the e-commerce redemption ecosystem to a wider audience.

Having achieved monumental success by connecting over 20 million users in Malaysia through esteemed partnerships with industry giants such as Bonus Link and Touch ‘N Go eWallet, Presto is now poised to redefine the loyalty rewards landscape on a regional scale. This expansion is led by the newly appointed Managing Director, Regional Business, Jeffry Ho, alongside dedicated Country Heads for Presto Singapore and Thailand, Donn Kwong, and Nakarin Prapaiwongs, respectively, signaling growth and opportunity for Presto’s partners and members.

Presto is Malaysia’s premier Multiple Loyalty Points Redemption Hub, redefining the loyalty rewards program by ingeniously integrating it with e-commerce redemption. With a robust connection to over 20 million loyalty members, Presto offers an unparalleled selection of over 20,000 products ranging from health and beauty, home and living, to tech and gadgets, and vouchers – all available at the convenience under one platform. This groundbreaking platform marks a significant shift in the loyalty rewards ecosystem, introducing a novel concept where loyalty points transcend their traditional role.

The process of combining points with Presto is designed to be as user-friendly with minimal tech integration from our loyalty issuers partners. Users can simply link their various loyalty program accounts through the Presto platform, and then choose how they wish to combine their points at the time of redemption. Presto’s transparent interface ensures that users have complete control over their points, enabling them to maximize the value of their rewards in a way that suits their preferences and needs.

The unique selling proposition of Presto lies in its ability to seamlessly integrate points from multiple loyalty programs, offering unprecedented flexibility to users. This means that points which were previously stranded in less frequently used accounts can now be combined with others to unlock valuable rewards. Whether it’s travel, dining, shopping, or entertainment, users can now leverage their collective points balance to enjoy a wide range of rewards, without the need to wait for a high accumulated points balance in a single program.

At the same time, Presto is engaging in collaborations with several significant upcoming partners. This strategic move not only signifies Presto’s commitment to delivering unparalleled value and convenience to its users but also marks the beginning of an exciting new chapter in the company’s journey to revolutionize the loyalty ecosystem across the region.

Mr Cheong Chia Chou, Group CEO of Presto, commented, “The expansion of Presto into the Singapore and Thailand markets represents a significant milestone for our company. We are excited to bring our innovative loyalty to e-commerce redemption ecosystem to a wider audience, enhancing user experiences and driving regional growth. This move underscores our commitment to delivering unparalleled value and convenience to our users across the region.”

Mr Jeffry Ho, appointed as Managing Director, Regional Business, brings with him more than 20 years of regional experience in the Asia Pacific countries. His leadership, coupled with extensive knowledge of the regional market dynamics, positions Presto for unprecedented success in the region. Donn Kwong and Nakarin Prapaiwongs, appointed as Country Heads for Presto Singapore and Thailand respectively, bring their expertise in sales, partner management, and distribution channels in the Fintech, IT, and Mobile industries, ensuring customized offerings to meet the unique needs of these markets.

Mr. Jeffry Ho, Managing Director, Regional Business

The setting up of Presto operations in Thailand and Singapore is just the beginning of the company’s regional expansion. Presto is committed to fostering a seamless Loyalty to E-commerce Redemption ecosystem where businesses across the region can thrive together, creating unparalleled value for all stakeholders.

TransNusa Launches Five New Direct Domestic Flights

PT TransNusa Aviation Mandiri implements domestic strategy that coincides with Indonesian Government’s push for increase in air connectivity within tourism destinations
TransNusa introduces five new scheduled direct flights to boost connectivity to Manado, Sorong, Ambon, and Timika
TransNusa focuses on high potential tourism destinations to offers domestic and foreign tourists ease in travel to world renown diving destinations Manado and Raja Ampat, Sorong; the Island of Spices, Ambon and the world largest gold mining island, Timika

JAKARTA, Apr 1, 2024 – (ACN Newswire) – TransNusa has taken a bold move in introducing five new domestic routes to boost domestic and foreign tourism spending and travel. Ticket sale for the five routes started last week while flight for the new domestic routes will begin between April 1 and April 19, depending on TransNusa’s scheduled timeline.

The new five routes are renowned Bali to world’s diving paradise Manado; Manado to the home of world’s richest coral reef and rare marine species, Raja Ampat, Sorong; Manado to Indonesia’s Island of Spices, Ambon; Sorong to Ambon and Sorong to Timika, home to the Jaya Wijaya mountain, which is the highest peak in Indonesia.

TransNusa Group Chief Executive Officer, Datuk Bernard Francis said that increasing air connectivity within tourism destinations is part of the Indonesian Government’s Eight Strategic Steps in boosting national tourism performance.

“We would like to play our part in boosting and increasing air connectivity within tourism destinations in the country to assist the Government realise its tourism development plans. Our focus is in increasing direct flight to destinations that has high potential and is world renowned for its unique and stunning landscape and natural offerings,” he said, adding that Indonesia has more than 17,000 islands that boosts it own stunning and vibrant panoramas.

TransNusa, in keeping with its new player, new rules character, has yet again implemented a strategy that allows the airline to become the first in the world to offer a direct flight between two world legendary destinations, Bali and Manado. The TransNusa flight will depart Bali from the Denpasar International Airport at 01.40am and arrive at Sam Ratulangi International Airport, Manado at 04.05am. The return flight will depart Manado at 05.45 and arrive in Bali at 08.25am. The scheduled direct flight will begin on Tuesday, April 2. TransNusa will be flying the round-trip route three times weekly from Bali and Manado on Tuesday, Thursday and Saturday.

TransNusa’s flight from Manado to Sorong will depart Manado from Sam Ratulangi International Airport and arrive at the Domine Eduard Osok Airport, Sorong. TransNusa will fly this round-trip route 11 times weekly. It has daily scheduled direct flight as well as one additional scheduled direct flight on Monday, Wednesday, Friday and Sunday. The daily scheduled direct flight will depart Manado at 09.00am and arrive at Sorong at 11.20am. While the second scheduled direct flight will depart Manado at 16.10pm and arrive at Sorong at 18.20pm while scheduled flight from Sorong to Manado will depart at 11.45am and arrive at 12.10pm. The additional scheduled flight will depart Sorong at 16.00pm and arrive in Manado at 16.20pm. The daily round-trip scheduled direct flights will begin on Friday, April 5 while the additional round-trip direct scheduled flight will begin from Manado on Wednesday, April 17 and from Sorong on Thursday, April 18.

On reasons behind the introduction of the above new route, Datuk Bernard said, “Raja Ampat in Sorong is Indonesia best kept secret. According to the National Geography Channel, Raja Ampat is the epicentre of marine biodiversity in the planet and is the world’s stronghold of healthy coral reefs. As such, it was only natural for TransNusa to introduce a direct flight from Manado to Sorong, in an effort to encourage and increase domestic and foreign tourism within the two destinations.”

BREATHTAKING SCENARIES AT RAJA AMPAT, SORONG

Meanwhile, TransNusa’s flight from Manado to Ambon will depart from Sam Ratulangi International Airport at 12.40pm and arrive at the Pattimura International Airport, Ambon at 14.50pm. The daily scheduled flight will depart Ambon at 15.15pm and arrive at Manado at 15.40pm. TransNusa’s daily scheduled direct flights for this round-trip route will begin on Friday, April 5.

“Ambon, known as the Island of spices, is also gateway to Banda Islands, Seram Island and even the Kei Islands. In addition, Ambon has some of the most pristine beaches and has an incredible natural landscape with sandy beaches and crystal-clear water,” said Datuk Bernard, adding that TransNusa will have daily scheduled flights to Ambon from not on Manado but also Sorong.

TransNusa’s flight from Sorong to Ambon will depart from the Domine Eduard Osok Airport at 09.00am and arrive at the Pattimura International Airport, Ambon at 10.00am. The TransNusa flight will depart Ambon at 10.25am and arrive at Sorong at 11.25am. The daily round-trip flight will begin on Thursday, April 18.

Meanwhile, on the Timika route, Datuk Bernard said, “Timika, where the 7th highest mountain in the world is located, is not only a tourist destination but also home to many who work at the Timika Gold mine. The dual demand for flight to Timika makes it a high potential but underserved market.”

TransNusa’s flight from Sorong to Timika will depart Sorong from Domine Eduard Osok Airport at 12.10pm and arrive at the Mozes Kilangin Internatioal Airport at 13.30pm. The TransNusa flight will depart Timika at 13.55pm and arrive at Sorong at 15.15pm. TransNusa will offer daily scheduled flights for this route starting Thursday, April 18.

Since the injection of new shareholders and management team in 2022, TransNusa has been implementing innovative and creative strategies as well as introducing new routes aggressively. The airline became a Premium Service Carrier and became Indonesia’s second airline to introduce flight to China from Jakarta last year. In the same year, TransNusa launched its maiden international flight to Kuala Lumpur, Malaysia and within the subsequent eight months, it successfully launched three new international routes.

Media Contact
Trina Thomas Raj
Mobile: +6012 4992672
E-mail: trina@myqaseh.org

About TransNusa

TransNusa Airline, is a Premium Service Carrier. After the take-over, in February 2024, the airline rebranded itself from being a Low-Cost Carrier to a Premium Service Carrier in line with its upgraded aircrafts that offers better comfort as well as based on the flexibility and quality of the services offered.

TransNusa, which received its AOC certification on 9th September 2022, launch its first three A320 operations on 6th October, 14th October and 12th December, 2022. The airline, which became the first outside of China to utilise Comac, received its first ARJ21 on 22nd December, 2022. In 2023, TransNusa introduced a new business model making it the first Premium Service Carrier in the Asia Pacific region. TransNusa introduced its first international flight on 14th April, 2023. The airline is currently based in Jakarta Soekarno-Hatta International Airport.

The airline currently flies to Yogyakarta and Bali. On the international front, TransNusa flies to Singapore, Guangzhou, Kuala Lumpur and Johor. The airline became the second Indonesian airline to fly to China and the first Indonesian airline to launch a Premium Service Carrier business model.

Passengers can book their flights on the TransNusa website (www.transnusa.co.id), through authorized travel agents in Singapore, Malaysia and Indonesia, or by contacting the airline’s customer service centre at, +62216310888. For the Singaporean market, passengers can contact TransNusa’s General Sales Agent, Chariot Travels Pte Ltd, at +65 86602719 while for the Malaysian market, passengers can contact MKM Ticketing Travel & Tours Sdn Bhd at +60378312581.