Acrometa Signs Strategic Cooperation Framework Agreement to Develop Co-Working Lab Space in China

SINGAPORE, Dec 12, 2023 – (ACN Newswire) – ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced that its 70% owned subsidiary Life Science Incubator Holdings Pte Ltd (“LSI”) signed a strategic cooperation framework agreement (“Agreement”) with its partner Fenglin Healthcare Industry Development (Group) Co. Ltd. (“Fenglin Group”).

(3rd from Right) Fenglin Group Deputy General Manager Mr Pan Taishen and (2nd from Right) AcroMeta Executive Chairman Mr Levin Lee Keng Weng at the signing ceremony

The Agreement follows an earlier MOU signed in November 2023 to further deepen their collaboration for the co-working laboratory space business in the People’s Republic of China.

The signing ceremony, which was held at the German Center Singapore, was part of a corporate access event which featured a presentation on the co-working laboratory space business, followed by a tour of the facilities for a first-hand look at the laboratory that is fully fitted with state-of-the-art equipment.

Representatives from AcroMeta, LSI and Fenglin Group present at the event held at the German Centre Singapore

China-incorporated Fenglin Group, the administrative arm of the Shanghai Xuhui government in charge of Life Sciences, aims to establish an integrated ecosystem of local and international stakeholders in Shanghai’s Xuhui District to accelerate biopharmaceutical innovation and development.

Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said,

“We extend a warm welcome to all our honoured guests, including the top Management of Fenglin Group. LSI and Fenglin will work closely together to fulfil the goals of our strategic cooperation in the co-working laboratory business.

China’s life sciences industry is an important part of China’s ‘Made in China 2025’ strategy and its rapid growth has seen the birth of thousands of start- ups and SMEs in biotech, agritech, pharmaceuticals, and medical devices doing research and development to bring innovative products into the market. Our co-working laboratory space business will enable them to conduct their R&D without incurring high CAPEX to build the facilities.”

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities, and cleanrooms.

ACROMETA’s business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA’s customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.

The Company has been listed on the Catalist Board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:
ACROMETA Group Limited
Ms. Cheah Lai Min
Chief Financial Officer
Tel: +65 6415 0574
Email: laimin.cheah@acrometa.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.

Cryofocus Medtech Obtains NMPA Approval for the AF Cryoablation System

HONG KONG, Dec 12, 2023 – (ACN Newswire) – The innovative medical device company in China with a main focus on the field of minimally-invasive interventional cryotherapy, Cryofocus Medtech (Shanghai) Co., Ltd. (the “Company” or “Cryofocus Medtech”, stock code: 6922.HK), on a voluntary basis to announce that the Company has obtained the marketing approval for its self-developed Atrial Fibrillation Cryoablation System (“AF Cryoablation System”) from the National Medical Products Administration of the People’s Republic of China (the “NMPA”).

The AF Cryoablation System of Cryofocus Medtech, consisting of the cryoablation equipment, the balloon cryoablation catheter, the disposable intracardiac mapping catheter and the adjustable curved guide catheter, is the first cardiac product that applies cryoballoon with liquid nitrogen as the refrigerant for the treatment of drug-refractory recurrent symptomatic paroxysmal atrial fibrillation. Using liquid nitrogen as the refrigerant, the target tissue is rapidly cooled down by the ultra-low temperature generated by the liquid nitrogen, and the ablation range can be precisely controlled to achieve the therapeutic effect of necrosis of aberrant myocardial cells, which greatly improves the effectiveness and safety of the product. Unlike traditional point-by-point radiofrequency ablation, cryotherapy technology can realize one-time comprehensive ablation, which is safe, effective, convenient and reproducible. The cryoballoon ablation has become one of the standard methods to realize pulmonary vein isolation.

As the first cryoablation technology platform company in China that uses liquid nitrogen as the main cryogenic source, Cryofocus Medtech has overcome many key difficulties in the clinical application of liquid nitrogen cryogen and developed the original liquid nitrogen cryoablation technology in China, which can efficiently isolate pulmonary veins. Combined with ultra-vacuum heat insulation technology, the freezing medium can be transported to a treatment site under low pressure and the balloon temperature can be accurately controlled and monitored in real time, further improving the safety and effectiveness of the AF Cryoablation System. Meanwhile, in contrast to nitrous oxide (Nâ‚‚O) as a freezing medium, nitrogen gas is safe, readily available and environmentally friendly, which is better for clinical promotion and application.

The approval of the AF Cryoablation System in China markets marks an important milestone in the business development of Cryofocus Medtech in vascular interventional cryotherapy. It will further enrich the Company’s product portfolio, meet diversified market demands, and effectively enhance the Company’s core competitiveness. Cryofocus Medtech is a global leader in minimally-invasive interventional cryotherapy, with extensive presence in two fast-growing areas, i.e. vascular Intervention and natural orifice transluminal endoscopic surgery (NOTES). The Company continues to launch multiple innovative cryoablation products to meet the urgent clinical treatment needs in China.

In the first half of 2023, Cryofocus Medtech continues to achieve positive progress in both product pipeline development and business operations. As of June 30, 2023, the Cryo-RDN System, developed by the Company to treat patients with refractory hypertension using an innovative 360-degree cryoballoon ablation technology on a circumferential surface, has also entered clinical trials of registration. The Company expects to obtain approval from the NMPA in the second half of 2025 and the Cryo-RDN System is expected to be the world’s first cryoablation product that specifically focuses on the treatment of hypertension. Meanwhile, the Company’s Asthma Cryoablation System and COPD Cryospray System entered into the confirmatory clinical trial phase in March 2023. It is expected to submit the product registration submission to the NMPA in the second half of 2025. In addition, as of June 30, 2023, Cryofocus Medtech submitted the registration application for the Cryoadhesion System, and it is expected to obtain approval from the NMPA for the product in the first quarter of 2024.

In the future, Cryofocus Medtech will continue to adhere to independent innovation, continuously promote the clinical development and commercialization of product candidates, further expand the product portfolio, and allow advanced cryoablation technology to benefit a large population of patients.

About Cryofocus Medtech (Shanghai) Co., Ltd. (6922.HK)

Cryofocus Medtech is an innovative medical device company in China with a main focus on the field of minimally-invasive interventional cryotherapy. Since its inception in 2013, the Company has developed a comprehensive product portfolio mainly focusing on two therapeutic areas: vascular interventional therapy and natural orifice transluminal endoscopic surgery, or NOTES. The product pipeline of Cryofocus Medtech includes a variety of cryotherapy systems and surgical consumables, four of which were recognized as “innovative medical devices” by the NMPA or its provincial counterparts, according to Frost & Sullivan. The Company’s major product, the AF Cryoablation System, has demonstrated good efficacy and safety profiles in clinical trials.

Moderna Reviews its Environmental, Social and Governance (ESG) Progress and Ambitions at Second ESG Investor Event

Cambridge, MA, Dec 11, 2023 – (ACN Newswire) – Moderna, Inc. (NASDAQ:MRNA) today will provide an update on its Environmental, Social and Governance (ESG) strategy at its second ESG Investor Event. Building off its inaugural ESG Day in November 2022, the Company will highlight the year’s progress on its ESG journey and future work to further impact global health and protect the environment.

“Our mRNA platform science has benefited patients around the world and with that comes great responsibility as science alone will not solve the world’s greatest health challenges,” said Stéphane Bancel, Chief Executive Officer of Moderna. “We are committed to moving beyond the power of our technology – tackling enduring health disparities, engaging with our communities, and recognizing that human health and planetary health are intricately linked. We look forward to building on our substantial ESG progress to become the best version of Moderna.”

Moderna’s ESG strategy is articulated around five areas:

Medicines for Patients: Moderna is leveraging its platform for many medicines, from vaccines to protect hundreds of millions of people from common viruses for which no vaccines are available today, to several rare disease therapies with tremendous opportunity for impact. Within its clinical trials, Moderna believes a committed approach to offering equal healthcare accessibility is achievable and necessary. The Company is also committed to using its platform to help rapidly respond to the greatest public health threats, pursuing a pipeline of priority programs relevant for outbreak response and pandemic preparedness. Moderna has long prioritized strategic collaborations to benefit global health, including its partnership with The Coalition for Epidemic Preparedness Innovations (CEPI), and Moderna’s mRNA Access program, a collaborative effort that enables researchers around the world to utilize Moderna’s mRNA technology.

Environment: Moderna is progressing on its journey toward net-zero carbon emissions (Scopes 1 & 2) by 2030. The Company has advanced its overall environmental sustainability program, including through implementing its sustainability strategy, enhancing its disclosure of key performance indicators, submitting its first CDP Climate Change questionnaire, and initiating a climate risk and scenario analysis. These efforts support internal and external stakeholder expectations for sustainable operations and Moderna’s adaptation to a low-carbon economy.

Employees & Culture: Moderna consistently ranks as a top employer and achieves above benchmark scores on engagement, culture and belonging. Moderna continues to foster a culture where every employee can meaningfully contribute to the Company’s mission, an effort that serves to attract and retain the best talent. By living the Company’s values and mindsets every day, the Moderna team is not only advancing mRNA science, but also building an organization that cares deeply for patients, employees, the environment, and the community.

Community: Moderna is committed to having a positive impact on communities around the world. Moderna’s purpose-driven employees continue to exemplify the Company’s mission, with nearly two out of three employees participating in volunteering activities or contributing as part of Moderna’s newly instituted employee matching program. The Moderna Charitable Foundation continues to provide financial support to organizations and causes that promote public health, advance scientific education, and advocate for belonging, inclusion, and diversity.

Governance & Ethics: Moderna prioritizes accountability and transparency around its ESG efforts, including through the publication of its second annual ESG report and continued commitment to disclosing key metrics. Moderna has initiated an ESG materiality assessment, which includes broad stakeholder surveys, and is also leveraging AI to build a dynamic analysis of material topics.

“Delivering on our ESG ambitions is made possible by a strong culture that embeds the values of transparency, accountability and ownership at all levels of the organization,” said Shannon Thyme Klinger, Moderna’s Chief Legal Officer, Corporate Secretary and President of the Moderna Foundation. “The same determination that goes into our innovation carries over into our commitment to positively impact the communities in which we work and live.”

Webcast Information

To register for the live webcast of Moderna’s ESG Investor Event, visit https://moderna-esg-day-2023.open-exchange.net/registration. The archived webcast will be available under “Events and Presentations” in the Investors section of the Moderna website for one year following the call: https://investors.modernatx.com.

About Moderna

Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including one of the earliest and most effective COVID-19 vaccines.

Moderna’s mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: Moderna’s ability to leverage its mRNA platform for pandemic preparedness; Moderna’s commitment to achieving net-zero carbon emissions in its global operations for Scopes 1 and 2 by 2030; the potential of Moderna’s mRNA platform for addressing rare diseases and common viruses for which no vaccines are available today; and Moderna’s implementation of its environmental sustainability program. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the U.S. Securities and Exchange Commission (SEC), and in subsequent filings made by Moderna with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release

Moderna Contacts
Media:
Chris Ridley
Vice President, Communications
617-800-3651
Chris.Ridley@modernatx.com

Investors:
Lavina Talukdar
Senior Vice President & Head of Investor Relations
617-209-5834
Lavina.Talukdar@modernatx.com

As Health Systems Struggle With Nursing Shortages, CGFNS International Sees a Sharp Rise in Nurses Seeking to Migrate to the U.S.

PHILADELPHIA, PA, Dec 6, 2023 – (ACN Newswire) – In a report published today, CGFNS International revealed that in 2023, it issued its highest-ever number of occupational visa certifications to nurses and other skilled health workers seeking to migrate to the U.S., where health systems confront a staffing crisis.

The company, a non-profit that verifies credentials for immigration authorities and state licensing boards, said it issued nearly 27,000 of its VisaScreen® certificates during the government fiscal year that ended in October. That is more than twice the number of certificates CGFNS issued the previous year.

The increase continues a six-year upward trend, during which the annual number of VisaScreen® certificates has quadrupled. Over this time, U.S. health systems have increasingly scrambled to fill staff vacancies amid a longstanding nursing shortage that was aggravated by pandemic-era challenges and is projected to worsen through the end of the decade.

In the report, CGFNS stated that higher levels of nurse immigration in recent years are likely to have peaked, even as the nursing shortage widens. This is because, barring intervention, U.S. visa availability is declining to pre-pandemic levels.

Download the 2023 Nurse Migration Report: Navigating Nursing Shortages and Immigration Barriers.

Data in the report were derived from applicant information submitted to the VisaScreen® Service and the CGFNS Credentials Evaluation Service, two leading pathways through which foreign-educated nurses and other healthcare professionals can migrate to and work in the U.S.

Other key findings in the report:

– The Philippines continues to be by far the largest source of immigrant nurses for the U.S., accounting for more than 60% of the total VisaScreen® certificates issued by CGFNS.

– In 2023, the vast majority (85%) of certificates were issued to registered nurses (RNs), with another 14% issued to clinical laboratory scientists.

– More than three-quarters (78%) of those applying for certificates were seeking permanent green cards, up from 64% in 2018 and up nine percentage points in just the past year, showing a strong trend toward permanent migration among nurses.

“Recruitment of nurses from outside the U.S. by using best practices has been critical to helping U.S. health systems cope with extraordinary staffing challenges and to ensure patient safety. With many thousands of qualified foreign-trained nurses willing and waiting to migrate to meet this present need, now is not the time to further restrict their numbers, especially when nurses want to come to the U.S. to advance their careers,” said Peter Preziosi, President and CEO of CGFNS.

Contact Information
David St. John
dstjohn@cgfns.org

Acrometa Posts Record Revenue of S$69.5 Million for FY2023, Continues to Pursue New Opportunities in Co-Working Lab Space Business

SINGAPORE, Nov 29, 2023 – (ACN Newswire) – ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced its financial results for the 12 months ended 30 September 2023 (“FY2023”).

The Group’s revenue for FY2023 saw a 12% increase to S$69.5 million, a historical high for the Group, primarily attributed to the Engineering, Procurement and Construction (“EPC”) segment’s strong performance. Gross profit increased by 19% from S$9.8 million for FY2022 to S$11.7 million for FY2023, while gross profit margins improved from 15.7% for FY2022 to 16.8% in FY2023.

The Group’s continuing operations comprising of its specialist EPC and maintenance segments recorded a profit of S$2.2 million on the back of a 10.8% growth in revenue from S$62.3 million for FY2022 to S$69.0 million for FY2023. However, the operating environment remains challenging amidst increased operational costs in energy, labour, and materials as a result of inflationary pressures in the global economy.

In May 2023, the Group ventured into the co-working laboratory space segment through the acquisition of Life Science Incubator Pte Ltd (“LSI”), which currently manages a 6,500 sqft co-working laboratory space at The German Centre, Singapore. Under the Group’s leadership, LSI has made significant inroads with new partnerships across Singapore, Australia, and China for new co-working laboratory space projects, reflecting the Group’s continued efforts to broaden its revenue stream and capture new regional opportunities.

Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said,

“We will continue our current focus on expanding the laboratory construction and co-working laboratory space businesses, both of which are currently cash flow positive with promising long-term prospects amidst an encouraging flow of business opportunities and projects in the last twelve months.”

The Group’s co-working laboratory space segment contributed positively to AcroMeta’s FY2023 results and will be developed as a new engine of growth for the Group’s business moving forward.

While the Group’s continuing operations delivered a profit of S$2.2 million, the Group reported a net loss attributable to owners of S$7.5 million in FY2023 due to the one-off impairment and provisions. Excluding these, the net profit would be S$2.3 million compared to FY2022 net profit of S$2.9 million.

The one-off impairment and provisions relating to discontinuing operations related to renewable energy business are based on historical expenditure and have minimal impact on the Group’s ongoing cashflow. The Group’s net asset value remains positive at S$2.6 million or 0.93 cents per share as at 30 September 2023 while the Group’s cash and cash equivalents are stable at S$4.4 million as at 30 September 2023 as compared to S$4.1 million as at 30 September 2022. The proposed subscription of 12,500,000 shares in the capital of the Company for S$0.5 million, announced in November 2023, is expected to further strengthen the Group’s financial resources.

While renewable energy business is fundamentally promising, the Covid-19 pandemic’s impact on construction as well as regulatory changes meant that the project would continue to require financial support and affect the Group’s allocation of resources. The Group’s prudent step to place Neo Tiew Power Pte. Ltd. (“NTP”), a loss-making indirect subsidiary, under Creditors’ Voluntary Winding Up will enable optimal allocation of resources as the Group continues to progress forward with its specialist engineering and co-working laboratory space business.

This press release should be read in conjunction with the financial statements released by AcroMeta Group Limited today.

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities, and cleanrooms.

The Company has been listed on the Catalist Board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:

ACROMETA Group Limited
Ms. Cheah Lai Min
Chief Financial Officer
Tel: +65 6415 0574
Email: laimin.cheah@acrometa.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.

Acrometa Subsidiary Signs Two MOUs to Develop Co-Working Laboratory Space Business in China

SHANGHAI, CHINA, Nov 17, 2023 – (ACN Newswire) – ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced that its 70% owned subsidiary Life Science Incubator Holdings Pte Ltd (“LSI”) has entered into a strategic partnership with Fenglin Healthcare Industry Development (Group) Co. Ltd. (“Fenglin Group”) through a non-binding Memorandum of Understanding (“Fenglin MOU”) to develop new business opportunities for co-working laboratory space in the People’s Republic of China.

(Front L-R) Fenglin Group Deputy General Manager Mr Pan Taishen and AcroMeta Chairman Mr Levin Lee Keng Weng at the signing ceremony in Shanghai.

Fenglin Group will promote the co-working laboratory space with a focus on overseas biomedical science startups and SMEs planning to develop their business in China. On its part, LSI will use its existing business networks to recommend to Fenglin Group, Singapore and other overseas biomedical sciences companies that intend to have a business foothold in China and need co-working laboratory space. An area of approximately 2,705 sqm is set to be leased by LSI at preferential rates to set up world-class co-working laboratory space at Fenglin Group’s Innovation Valley Life Sciences Hub to provide a cost-effective venue with comprehensive laboratory facilities and equipment for research and development.

Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said,

“AcroMeta will continue to capture business opportunities both in Singapore and beyond to grow and create sustainable shareholder value for its investors. The business model for the Group’s co-working laboratory space business is scalable and replicable and therefore eminently suitable for international expansion.”

“China’s biopharmaceutical industry has undergone a tremendous transformation to become a thriving innovative life sciences hub driven by investments in research and development. The sector is a key focus of the Chinese government’s Made in China 2025 strategy, and we are optimistic about LSI’s long-term growth potential in collaboration with local partners.”

LSI has also signed a non-binding Memorandum of Understanding (“JV MOU”) with three investor parties (“Investor Parties”) for the setting up of a Joint Venture company (“JV Company”) to define the structure, ownership, and operational aspects of the Fenglin MOU. The expected JV Company will have a paid-up capital of at least S$3 million, with LSI holding a 51% stake. The Investor Parties are all established businessmen with deep connections to China’s medical and life science industries and will contribute their business network, expertise, and experience to facilitate the smooth set-up and successful realisation of the Fenglin MOU’s objectives.

The Fenglin MOU reflects the Group’s continued efforts to broaden its revenue stream and capture new regional opportunities. Following the Group’s MOU for the supply of high-grade silica sand from Indonesia, AcroMeta has extended its MOU with its Thai partner to jointly pursue the design, construction and operation of a solid waste and sludge testing and certification laboratory.

Reference:

https://links.sgx.com/FileOpen/PR-AcroMeta%20signs%20two%20MOUs%20for%20Co-working%20Lab%20Space%20Biz%20in%20China.ashx?App=Announcement&FileID=778491

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities, and cleanrooms.

The Company has been listed on the Catalist Board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:
ACROMETA Group Limited
Ms. Cheah Lai Min
Chief Financial Officer
Tel: +65 6415 0574
Email: laimin.cheah@acrometa.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com

The Largest Biotech City in Europe Will Soon Be Built, With an Investment Amounting to 7 Billion Euros

VILNIUS, Lithuania, Nov 17, 2023 – (ACN Newswire) – Northway Group is embarking on a project to establish Europe’s largest biotechnology hub, BIO CITY, in Vilnius, the capital of Lithuania. It includes 6 large biotechnological complexes – 4 state-of-the-art GMP manufacturing plants and 2 advanced scientific research centres – that will be built in an area equivalent to 10 football fields. The total investment for this biotech campus is projected to reach approximately 7 billion euros over the next decade.

Northway Group is in the process of constructing Europe’s largest biotechnology hub, with the inaugural Gene Therapy Center set to be operational in 2024.

“A science-based economy, supported by bright minds and intelligent entrepreneurs, is the foundation for Lithuania’s long-term economic prosperity. In the past, our growth was constrained by a lack of fossil resources, but today, we are boldly moving forward, relying on modern technologies. The new biotechnology hub embodies the direction of Lithuania’s innovative economy. It also promises new inventions that will enable people with serious illnesses to become full members of society, thereby reducing exclusion,” says the President of the Republic of Lithuania, Gitanas Nausėda.

Prof. Vladas Algirdas Bumelis, founder and CEO of Northway Biotech and Celltechna, key components of the Northway Group, highlighted Lithuania’s strong global standing in biotechnology. The aim of the BIO CITY project is to further solidify this position with four advanced biomanufacturing facilities and two innovative research centres, significantly boosting Lithuania’s prominence in the international biotech sphere.

The Speaker of the Seimas, parliament of Lithuania, states that the new biotech city being developed in Vilnius will strengthen the competitiveness of our country. “Lithuanian life sciences industry has ambitions and potential to become a global leader in this field: a leader who will significantly contribute to the development of scientific research for the well-being of man, nature and planet, and will facilitate new opportunities to deal with global health, sustainable development and other challenges,” says Viktorija Čmilytė-Nielsen.

Vision of BIO CITY: A European Biotechnology Leader

“We envision BIO CITY as a frontrunner in the European biotechnology, by uniquely integrating various biotech segments into a single, synergistic ecosystem. This multifunctional complex will catalyse interdisciplinary collaborations, the quick realisation of ideas and technological advancements. Our unique model, which brings together diverse biotechnology fields in one location, is set to revolutionise the European biotech landscape,” said Prof. V. A. Bumelis.

Gene Therapy Centre will Open in 2024

The first facility to open its doors in the biotech hub BIO CITY will be the Gene Therapy Centre, which is currently under construction and is being built by Northway Group’s subsidiary, Celltechna. This centre, the first and so far the only one of its kind in the Baltic States, will bolster Lithuania’s role in gene therapy, addressing the needs of the 280 million individuals worldwide who are affected by genetic diseases.

“Our state-of-the-art facility will be instrumental in both research and production, offering new treatments for previously incurable diseases. This will not only augment our CDMO (Contract Development and Manufacturing Organisation) capabilities, but also position us for global competition and collaborations,” added Prof. V. A. Bumelis.

The Gene Therapy Centre, which is expected to become operational in the second quarter of 2024, will specialise in gene therapy research and GMP manufacturing. Representing an investment of 50 million euros, the facility will span 8,000 square metres and is anticipated to create over 100 high-value jobs. The centre will work in synergy with Northway Biotech. Established in 2004, Northway Biotech is a leading provider of CDMO services in the field of biologics, with a focus on the development and manufacturing of recombinant proteins and antibodies.

A Comprehensive Lithuanian Biotech Hub

By 2030, BIO CITY will see the inauguration of five additional complexes, including centres for R&D and Virology, Life Sciences Industry Smart Services, Stem Cell Research and 3D Bioprinting, as well as two large-scale production centres for mammalian and microbial products. The entire BIO CITY complex will span an area equivalent to 10 football fields, with the total investment expected to reach around 7 billion euros over the next decade.

“We will not only focus on contract development and manufacturing services, but will also invest significantly in the operation of scientific research centres. Scientific activity enhances a country’s competitiveness and generates value in various forms, beyond just the economic aspect. Modern biotechnologies, such as gene editing and cell therapies, are advancing rapidly. Lithuania can pride itself on having some of the most talented scientists and robust expertise in these areas. The development of the biotech campus in Vilnius means we are poised to foster new partnerships with innovative startups, research institutions and pharmaceutical companies on a global scale. We are actively seeking partnerships and offer a warm invitation to investors who are enthusiastic about joining this exciting venture,” said Prof. V. A. Bumelis.

Upon its completion, BIO CITY is expected to offer employment to approximately 2,100 highly skilled professionals, including scientists, biotechnologists, and medical engineers.

Lithuania is Among the Leaders in the Global Biotechnology Market

The global biotechnology market, currently valued at over 1,130 billion euros, is anticipated to grow to be worth more than 2,775 billion euros by 2030. Lithuania holds a strong position in this market, ranking among the Top 35 innovative countries in the biotechnology field, according to Scientific American Worldview.

“Every year, Lithuania is mentioned in the field of Life Sciences more often, and the ambitious BIO CITY project will contribute to our leadership. Our vision is coming to life – we are talking about world-class Life Sciences infrastructure and a competitive sector capable of building innovative products. In 2022, companies in the sector posted combined revenues of 1.5 billion euros, while exporting their goods to more than 100 countries. Overall, Life Sciences is a leading sector in Lithuania, when it comes to creating and implementing innovative solutions,” states Aušrinė Armonaitė, the Minister of the Economy and Innovation.

Over 80 life science companies operate in Lithuania, contributing about 2.5% to the country’s GDP. The Northway group, a key player in Lithuania’s biotech sector, manages seven companies: five in Lithuania and one each in the UK and the US, with the US entity being recognised as the largest biotech investor from the Baltic region in recent years. Employing more than 200 specialists, these companies provide services to a diverse array of international biopharmaceutical firms, ranging from small to large enterprises, predominantly operating in both Europe and the US.

BIO CITY Contacts:
Vladas Algirdas Bumelis
CEO and Chairman of the Board
vladas.bumelis@northwaybiotech.com

Contact Information:
Vladas Bumelis
CEO and Chairman of the Board
vladas.bumelis@northwaybiotech.com

ZAGENO Secures Esteemed Placement in the 2023 ProcureTech100 Elite

Cambridge, MA, Nov 15, 2023 – (ACN Newswire) – ZAGENO Inc., the leading marketplace for life science research products, proudly announces its inclusion in the prestigious 2023 ProcureTech100. This distinguished reward is reserved for a select group of technology, data, and analytics solutions celebrated for their exceptional innovation, scalability, and transformative impact on the digital procurement landscape.

Florian Wegener, CEO of ZAGENO Inc., expressed honor in being recognized among this elite group of companies, stating, “We look forward to advancing our mission to accelerate life science research and empower procurement teams globally.”

The rigorous selection process scrutinized over 5,000 global digital solutions, evaluated by esteemed procurement leaders, technology experts, and B2B investors. Dr. Elouise Epstein, Partner at Kearney, highlighted the significance of ProcureTech100 in identifying groundbreaking solutions that drive short-term benefits and long-term value in the supply chain.

ZAGENO, the leading lab supply marketplace, provides a superior selection of high-quality products from leading suppliers, emphasizing quality and convenience. Through streamlined order tracking and billing, ZAGENO simplifies and enhances the global procurement process for biotech and pharmaceutical companies. Customers benefit from the following:

Accelerate “Phase I Clinical Trial” Timelines: ZAGENO is committed to minimizing the time it takes to reach “phase I clinical trials,” ensuring a swift and efficient progression through crucial research phases.
Enhance Scientist Productivity: By leveraging ZAGENO’s platform, scientists can experience increased efficiency and productivity, streamlining their workflow and allowing them to focus on advancing critical research initiatives.
Strengthen Supply Chain Resilience: ZAGENO is pivotal in strengthening the supply chain’s resilience for biotech and pharma companies, offering a dependable and robust procurement infrastructure that contributes to overall supply chain stability.

The announcement of the 2023 ProcureTech100 took place at the ProcureTech PIONEERS event, attracting hundreds of procurement and digital leaders. ZAGENO is honored to be featured in this exclusive list and remains committed to delivering optimal solutions for its customers.

To learn more about ProcureTech100, please visit the ProcureTech100 website.

To learn more about ZAGENO Inc., please visit the ZAGENO website.

Contact Information:
Stephanie Harold
pr@zageno.com
+1 (857) 477-8479

Envision Pharma Group Announces New AI Innovation Board and Appoints Chairwoman

HORSHAM, UK, Nov 15, 2023 – (ACN Newswire) – Envision Pharma Group (Envision), a leading global technology-enabled strategic solutions partner for the life sciences industry, unveils its AI Innovation Board and announces the appointment of Dr. Loubna Bouarfa as AI thought leader and Chairwoman of the newly established board. This strategic move underscores Envision’s global commitment to harnessing the power of AI to shape the future of the life sciences industry.

Previously serving as the CEO and founder of OKRA.ai, which was acquired by Envision in February 2023, Dr. Bouarfa revolutionized healthcare by creating AI systems that support life sciences companies to better enable the drive of personalized medicine across the globe. In this new role, she will apply her deep expertise to intertwine AI with all the services that Envision offers.

“Loubna’s appointment and the establishment of the new AI Innovation Board marks a significant step toward aligning our innovation and technology efforts to drive our strategies for our internal team, business, and partners,” shares Howard Miller, CEO of Envision Pharma Group. “We are confident this strategic move will propel Envision to new heights.”

In her new role, Dr. Bouarfa will focus on advancing AI strategy and promoting its integration across all aspects of Envision. This appointment solidifies Envision’s dedication to leveraging AI to deliver innovative, faster outcomes for the life sciences industry. In addition, Dr. Bouarfa will lead the AI Innovation Board to define and develop Envision’s AI strategy across all technology platforms, solidify thought leadership as pioneers in AI, and pilot new innovative AI applications.

Having earned the Deloitte Fast 50 Women in Leadership Award and a place on Forbes’ 50 Top Women in Tech list, Dr. Bouarfa expressed her commitment to the role, saying, “I am excited to take on this new challenge and continue driving AI innovation at Envision. We are dedicated to leading the industry in this space and delivering innovative solutions that will transform the future of life sciences. Our success will not only bring commercial benefit to clients but lead to improved patient outcomes across the globe.”

About Envision Pharma Group

Founded in 2001, Envision Pharma Group is a leading global technology-enabled strategic solutions partner for the life sciences industry, working with over 200 pharma and biotech companies, including 19 of the top 20 pharmaceutical companies. Envision supports clients across the product life cycle through a comprehensive suite of services and industry-leading technology solutions that include artificial intelligence and natural language processing, commercialization and integrated strategic consulting, evidence-based scientific communications and engagement, HEOR/market access and data analytics, medical capabilities, and omnichannel solutions. Learn more at www.envisionpharmagroup.com.

Contact Information
Colleen Carter
Associate Director, Communications, Office of CEO
colleen.carter@envisionpharma.com
1 (508) 505 8856

Indonesia’s ITS Launches 7 MedTech Devices Based on Various Integrated Technologies

SURABAYA, Indonesia, Nov 9, 2023 – (ACN Newswire) – Sepuluh Nopember Institute of Technology (ITS), a leading university in Indonesia, with PT Tekno Sains Medika and PT Bina Makmur Abadi, has developed seven medical devices using integrated digital technologies, in a significant boost to the country’s nascent MedTech industry.

The seven devices use integrated 3D design and digital fabrication technology. Through fabrication technology, products can be customized and made based on consumer request. It is expected that the use of this technology can help speed up the handling of medical cases, said Djoko Kuswanto, ITS lecturer and medical equipment inventor.

ITS launches seven medical technology devices using integrated 3D design and digital fabrication technology – a boost to the country’s MedTech industry [IMAGE: ITS].

The new products include AMO3D, a 3D-printed implant mold based on patient data; GUO3D, a 3D-printed work support tool; and PRO3D, a 3D-printed body protective device made using patient-specific scans. These tools are the only ones in Indonesia that combine innovation and digital technology for use in healthcare settings.

ITS has also created products called HUMA3D in the form of a mannequin, and TSM.Bones, a replica of human bones for educational purposes and clinical training for aspiring medical professionals.

The final products are RiseHand, a tool that assists patients with amputated fingers in grasping objects, and Surgical Instrument, a range of tools for surgical operations, including scissors, knives, and tweezers.

These medtech products, which were launched at the 35th Hospital Expo, Jakarta Convention Center on October 18 have been used by several hospitals and universities in Indonesia, and hundreds of units of the devices have been ordered. So the quality of these products is no less competitive comparing with products from developed countries, Kuswanto said.

Bambang Pramujati, ITS Deputy Rector, said: The launch of these medtech devices is proof of ITS’ commitment to developing technology in the health sector. The large volume of imported medical equipment and the rapid development of technology prompted ITS to develop the medical equipment by increasing the domestic component level to above 40 percent.

Besides collaborating with Airlangga University Hospital (RSUA) for the research and trials phase, the development of the new medical devices also involved the use of locally sourced components and the support of digital technology, said Pramujati.

Digital 3D printing technology, artificial intelligence (AI), as well as augmented reality (AR) and virtual reality (VR), can be used to improve health facilities in Indonesia, Pramujati said.

Nike Besta Sari, Director of PT Tekno Sains Medika, said: The price of the products is lower compared to other similar products. For example, HUMA3D is being sold for just under Rp50 million (around US$3,200), which makes it cheaper compared to similar products that cost hundreds of millions of rupiah.

Using locally-made components, the new devices are produced on a pre-order system. Sales pricing is less than that of imported products, but does not reduce product quality, Sari said, adding that the company would be holding development workshops regarding the healthcare tools at various locations throughout Indonesia.

By Yashinta Difa Pramudyani, Edit by Anton Santoso, COPYRIGHT (c) ANTARA 2023