Category: Pakistan

FDA Feedback Supports Planned Emergency Use Authorization (EUA) Submission for ADG20 for Prevention of COVID-19; Interim Clinical Data Package from EVADE Prevention Trial to Support EUA Submission Expected in Second Quarter 2022

Enrollment Progressing in ADG20 STAMP Trial for Treatment of COVID-19; Planned Interim Efficacy Analysis Expected in Second Quarter 2022 to Support Potential EUA Submission

WALTHAM, Mass., Nov. 15, 2021 (GLOBE NEWSWIRE) — Adagio Therapeutics, Inc., (Nasdaq: ADGI) a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of antibody-based solutions for infectious diseases with pandemic potential, today provided an update on its lead COVID-19 antibody program, ADG20, and reported third quarter 2021 financial results. ADG20 is an investigational monoclonal antibody product candidate designed to provide broad and potent neutralizing activity against SARS-CoV-2, including variants of concern, for the prevention and treatment of COVID-19.

“ADG20 continues to be the only monoclonal antibody in late-stage development that has the potential to offer a unique combination of potency, breadth of neutralization across known SARS-CoV-2 variants of concern as well as additional SARS-like viruses with pandemic potential, and durable protection against COVID-19 for up to one year. Further, our single injection delivery avoids the inconveniences associated with IV administration or multiple injections,” said Lynn Connolly, M.D., Ph.D., chief medical officer of Adagio. “The world continues to face a host of challenges in fully addressing the COVID-19 crisis. Alternatives or supplements to vaccines for the prevention of COVID-19 are needed for immunocompromised individuals and those who remain hesitant to receive a vaccine or to vaccinate their children. Certain patient populations may not be ideal candidates for emerging oral treatment options due to adherence concerns, comorbidities or possible drug interactions. Based on its combined attributes, ADG20 has the potential to be a differentiated alternative for the prevention and treatment of COVID-19 that may address the needs of these populations, and our commitment to its advancement is unwavering.”

“We’ve made significant progress over the course of 2021, and 2022 is set to be a landmark year for Adagio as we prepare for potential EUA submissions for ADG20 for the prevention and treatment of COVID-19,” said Tillman Gerngross, Ph.D., co-founder and chief executive officer of Adagio. “We recently received clear feedback from the FDA on a strategy to submit an EUA for ADG20 for the prevention of COVID-19, and have initiated efforts to expand our clinical program to additional patient subsets, including immunocompromised individuals and children. Our commercial-readiness efforts are well underway and with a strong balance sheet, we are ready to move quickly to enable access to individuals in need of COVID-19 prevention and treatment options, if authorization and/or approval is granted.”

ADG20 COVID-19 Program Updates

Prevention
Adagio continues to enroll adult and adolescent participants in its ongoing, global Phase 3 EVADE clinical trial evaluating ADG20 as a prevention for COVID-19 in both the pre-exposure and recent exposure settings.

• Adagio has received feedback from the U.S. Food and Drug Administration (FDA) on a data package needed and a pathway for an EUA submission for the pre-exposure prevention of COVID-19
• Adagio anticipates that the data package to support an EUA for ADG20 will be available in the second quarter of 2022 followed by expected submission to the FDA in the third quarter of 2022
• Adagio plans to add a new cohort in EVADE to evaluate ADG20 as a preventative option in immunocompromised individuals, with enrollment expected to begin in the first quarter of 2022
• Adagio also plans to initiate a trial evaluating ADG20 as a vaccine supplement
• Following discussion with the FDA, Adagio has aligned on a plan to evaluate ADG20 as a preventative option in the pediatric population, with a trial in individuals between two and 11 years of age expected to be initiated by mid-year 2022

Treatment
Adagio continues to enroll patients in its ongoing, global Phase 2/3 STAMP clinical trial evaluating ADG20 as a treatment for COVID-19.

• Adagio is planning to modify the trial design in order to expand the at-risk patient population eligible for enrollment in STAMP
• Based on current enrollment, Adagio anticipates reaching the Phase 2 independent data monitoring committee evaluation in the first quarter of 2022 and the interim efficacy analysis in the second quarter of 2022 to potentially support a subsequent EUA submission

Recent ADG20 Data Presentations at ISIRV-WHO and IDWeek2021

• New in vitro data demonstrated retained neutralizing activity of ADG20 against a diverse panel of circulating SARS-CoV-2 variants, including the newly emerged Lambda, Mu and Delta plus variants. Notably, findings showed that ADG20 demonstrated potent neutralizing activity against all SARS-CoV-2 variants of concern tested, including those with reduced susceptibility to mAb products currently available under EUA or in late-stage development.
• Data from a six-month evaluation in Adagio’s Phase 1 healthy volunteer trial of ADG20 confirmed the extended half-life of ADG20, which approached 100 days based on data from the 300 mg intramuscular dose that was given as a single injection. In addition, an exploratory analysis showed that 50% serum virus neutralization titers at six months after a 300 mg intramuscular dose of ADG20 were similar to observed peak titers with the mRNA-1273 vaccine and exceeded those achieved with the AZD1222 vaccine series. ADG20 was well-tolerated with no study drug-related adverse events (AEs), serious AEs, or injection-site or hypersensitivity reactions reported through a minimum of three months follow-up across all cohorts.
• To support dose selection for Adagio’s global Phase 2/3 STAMP and EVADE clinical trials, the company modified an existing quantitative systems pharmacology whole-body physiologically-based pharmacokinetic (QSP/PBPK) model to better characterize the PK of extended half-life mAbs in serum and key sites of viral replication in the respiratory tract. Adagio’s model adequately a priori predicted the observed ADG20 serum PK in non-human primates (NHPs) and humans. The model was further optimized based on data from Adagio’s Phase 1 clinical trial and then applied for dose selection for STAMP and EVADE, ultimately informing selection of the 300 mg intramuscular dose for the trials.

Intellectual Property

On October 29, 2021, the United States Patent and Trademark Office mailed a notice of allowance to the company for a patent application that will provide patent protection for ADG20 in the U.S.

Third Quarter 2021 Financial Results

• As of September 30, 2021, Adagio had cash, cash equivalents and marketable securities of $666.3 million, which are expected to support the company’s current operating plans into 2023.
• Research & development expenses including in-process research and development for the third quarter of 2021 were $49.4 million.
• Selling, general & administrative expenses for the third quarter of 2021 were $11.1 million.
• Net loss for the third quarter was $60.4 million, or $0.98 per share.

About ADG20
ADG20, an investigational monoclonal antibody targeting the spike protein of SARS-CoV-2 and related coronaviruses, is advancing through global clinical trials for the prevention and treatment of COVID-19, the disease caused by SARS-CoV-2. ADG20 was designed and engineered to possess high potency and broad neutralization activity against SARS-CoV-2 and additional clade 1 sarbecoviruses by targeting a highly conserved epitope in the receptor binding domain. ADG20 was further engineered to provide an extended half-life for durable protection. ADG20 has demonstrated potent neutralizing activity against the original SARS-CoV-2 virus, all known SARS-CoV-2 variants of concern and additional SARS-like viruses in preclinical studies. ADG20 is administered in clinical trials by a single intramuscular injection. To date, ADG20 has been well-tolerated in a Phase 1 trial with no safety signals identified through a minimum of three months follow-up across all cohorts. ADG20 has not been approved for use in any country, and safety and efficacy have not yet been established.

About Adagio Therapeutics
Adagio (Nasdaq: ADGI) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of antibody-based solutions for infectious diseases with pandemic potential, including COVID-19 and influenza. The company’s portfolio of antibodies has been optimized using Adimab’s industry-leading antibody engineering capabilities and is designed to provide patients and clinicians with the potential for a powerful combination of potency, breadth, durable protection (via half-life extension), manufacturability and affordability. Adagio’s portfolio of SARS-CoV-2 antibodies includes multiple non-competing, broadly neutralizing antibodies with distinct binding epitopes, led by ADG20. Adagio has secured manufacturing capacity for the production of ADG20 with third-party contract manufacturers to support the completion of clinical trials and initial commercial launch, ensuring the potential for broad accessibility to people around the world. For more information, please visit www.adagiotx.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “expects,” “intends,” “projects,” and “future” or similar expressions are intended to identify forward-looking statements. Forward-looking statements include statements concerning, among other things, the timing, progress and results of our preclinical studies and clinical trials of ADG20, including the timing of our planned EUA submissions, initiation, modification and completion of studies or trials and related preparatory work, the period during which the results of the trials will become available and our research and development programs; our ability to obtain and maintain regulatory approvals for, our product candidates; our ability to identify patients, including in specific populations, with the diseases treated by our product candidates and to enroll these patients in our clinical trials; our expectations regarding the scope of any approved indication for ADG20; and the benefits of our product candidates to patients; our manufacturing capabilities and strategy; and our ability to successfully commercialize our product candidates. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from the results described in or implied by the forward-looking statements, including, without limitation, the impacts of the COVID-19 pandemic on our business, clinical trials and financial position, unexpected safety or efficacy data observed during preclinical studies or clinical trials, clinical trial site activation or enrollment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, and the uncertainties and timing of the regulatory approval process. Other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading “Risk Factors” in Adagio’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 and in Adagio’s future reports to be filed with the SEC, including Adagio’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021. Such risks may be amplified by the impacts of the COVID-19 pandemic. Forward-looking statements contained in this press release are made as of this date, and Adagio undertakes no duty to update such information except as required under applicable law.

Contacts:
Media Contact:
Dan Budwick, 1AB
Dan@1abmedia.com

Investor Contact:
Monique Allaire, THRUST Strategic Communications
monique@thrustsc.com

ADAGIO THERAPEUTICS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(In thousands, except share and per share amounts)

		September 30, 2021				December 31, 2020
Assets
Current assets:
Cash and cash equivalents		$	478,269			$	114,988
Marketable securities			188,053				—
Prepaid expenses and other current assets			13,833				2,394
Total current assets			680,155				117,382
Other non-current assets			6,115				—
Total assets		$	686,270			$	117,382
Liabilities, Convertible Preferred Stock and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable		$	17,564			$	8,153
Accrued expenses			35,485				4,919
Total current liabilities			53,049				13,072
Early-exercise liability			8				11
Total liabilities			53,057				13,083
Commitments and contingencies
Convertible preferred stock (Series A, B and C) $0.0001 par value; no shares authorized, issued and outstanding at September 30, 2021; 12,647,934 shares authorized, issued and outstanding at December 31, 2020; aggregate liquidation preference of $0 and $169,900 at September 30, 2021 and December 31, 2020, respectively			—				169,548
Stockholders’ equity (deficit):
Preferred stock:
Undesignated preferred stock, $0.0001 par value; 10,000,000 shares authorized at September 30, 2021; no shares authorized at December 31, 2020; no shares issued and outstanding at September 30, 2021 and December 31, 2020			—				—
Common stock, $0.0001 par value; 1,000,000,000 shares authorized at September 30, 2021; 150,000,000 shares authorized at December 31, 2020; 111,251,660 shares issued and outstanding at September 30, 2021; 28,193,240 shares issued and 5,593,240 shares outstanding at December 31, 2020			5				1
Treasury stock, at cost; no shares and 22,600,000 shares at September 30, 2021 and December 31, 2020, respectively			—				(85	)
Additional paid-in capital			842,272				154
Accumulated other comprehensive income			3				—
Accumulated deficit			(209,067	)			(65,319	)
Total stockholders’ equity (deficit)			633,213				(65,249	)
Total liabilities, convertible preferred stock and stockholders’ equity (deficit)		$	686,270			$	117,382

ADAGIO THERAPEUTICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(UNAUDITED)
(In thousands, except share and per share amounts)

		Three Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,				Period from June 3, 2020 (Inception) to September 30,
		2021				2020				2021				2020
Operating expenses:
Research and development(1)		$	45,366			$	7,251			$	114,465			$	7,299
Acquired in-process research and development(2)			4,000				39,915				7,500				39,915
Selling, general and administrative			11,052				842				21,853				892
Total operating expenses			60,418				48,008				143,818				48,106
Loss from operations			(60,418	)			(48,008	)			(143,818	)			(48,106	)
Other income (expense):
Interest income			48				—				80				—
Other expense			(5	)			—				(10	)			—
Total other income (expense), net			43				—				70				—
Net loss			(60,375	)			(48,008	)			(143,748	)			(48,106	)
Other comprehensive income (loss)
Unrealized gain on available-for-sale securities, net of tax			3				—				3				—
Comprehensive loss		$	(60,372	)		$	(48,008	)		$	(143,745	)		$	(48,106	)
Net loss per share attributable to common stockholders, basic and diluted		$	(0.98	)		$	(25.98	)		$	(7.06	)		$	(7.55	)
Weighted-average common shares outstanding, basic and diluted			61,297,086				1,847,826				20,346,771				6,375,000

(1)   Includes related-party amounts of $1,826 and $2,261 for the three and nine months ended September 30, 2021, respectively, and $291 for both the three months ended September 30, 2020 and for the period from June 3, 2020 (inception) to September 30, 2020.
(2)   Includes related-party amounts of $4,000 and $7,500 for the three and nine months ended September 30, 2021, respectively, and $39,915 for both the three months ended September 30, 2020 and for the period from June 3, 2020 (inception) to September 30, 2020.

Despite High Confidence in Their Risk Assessment Capabilities, Study Finds a Third of Companies Have Been Breached, and 89% Have Been Hit Multiple Times

Philadelphia, Pennsylvania, Nov. 11, 2021 (GLOBE NEWSWIRE) –New data released today by Cornell University’s Center for Hospitality Research and FreedomPay, a global leader in data-driven commerce, reveals that while nearly all (96%) surveyed retail, restaurant and hospitality stakeholders are confident in their companies’ internal risk assessment processes, their satisfaction (95%) in the security of their systems is misaligned with reality, as one-third of companies (31%) have experienced a data breach in their company’s history. Of companies that have been breached, 89% have been hit more than once in a year, and 69% of retail businesses have been breached upwards of three times in a year.

Check Please! How Restaurant, Retail and Hospitality Businesses are Managing Cybersecurity Risks – a joint study between Cornell and FreedomPay – is based on a new survey of small, medium, and large-size enterprises across the hospitality, retail, and food and beverage sectors.

“Especially over the past two years, cybersecurity has been top of mind for businesses as we navigate a highly complex eCommerce network,” said Chris Kronenthal, President of FreedomPay. “Retailers and hospitality businesses increasingly view their payments systems as more than transaction processing – they are important sources of data and customer insights. Merchants and consumers alike need the assurance that this data is being protected and managed properly.”

“These findings provide a baseline understanding of how key decision-makers are handling cybersecurity issues and offer key insights for optimizing and fortifying systems as we continue down this path of accelerated digital transformation,” said Professor Linda Canina, the Dr. Michael Dang Director of the Center for Hospitality Research at the Cornell Peter and Stephanie Nolan School of Hotel Administration.

Threats Are Rising, Complexity Abounds

With new cyber threats emerging daily both internally and externally, business leaders are juggling a full slate of concerns and challenges. Threats such as payment integrity (59%) and malware (58%) are the most cited concerns, with risk management (57%) cited as the biggest challenge leaders say their systems face. Companies also fear internal threats, with hospitality companies most frequently citing human error (86%) and lack of employee education (81%) as negatively impacting cybersecurity systems.

Businesses’ best efforts to protect themselves and customers are spurring growing complexity and system proliferation. The findings revealed three-quarters (74%) of companies use more than one cybersecurity system. Medium merchants (80%) are significantly more likely than small merchants (67%) to use more than one system. More than half of companies (56%) have many cybersecurity systems in many locations. Overall, companies are split on whether systems are governed by a single department (51%) or multiple (49%). Small merchants (57%) are significantly more likely to keep governance to one department, while large merchants (63%) are significantly more likely to have multiple departments involved.

Roadblocks Remain

Businesses are challenged to balance security with customer preferences, with many implementing heightened cybersecurity measures to make their customers feel more secured and reassured when making a purchase. The study found that 91% of companies believe their customers deeply care about cybersecurity while 86% believe it increases customer loyalty. Yet, companies acknowledge the inherent tradeoffs – namely, two-thirds (65%) of leaders believe that customers are annoyed by extra security measures, and they want systems to be easy to use (67%).

Budgetary concerns may also play a factor in determining any potential system enhancements – among the few (15%) that currently do not have plans to enhance their system, they are most likely to cite preventative costs (61%) and an unwillingness to have a disruption in service (52%).

Despite these roadblocks, companies have said they are increasing or have increased their IT budgets, calling out the COVID-19 pandemic and technology as driving forces. Other notable findings include:

• In The Dark: More than one-third (35%) of surveyed leaders do not know how much of their company’s budget is spent on cybersecurity.
• Bicameral Opinion: While 91% of respondents agree that their customers do care about cybersecurity, 48% also believe their customers do not care about cybersecurity.
• Inaction: Nearly all (96%) companies say they value the importance of security systems to protect their data, and 85% agree that their customers would be more satisfied if they had extra security measures in place. Yet, half (50%) have either not increased their IT security budget or decreased their budget since 2019.
• Show Me The Money: Still, companies are divided on what precautions and guidance are worth the cost. Four-fifths (83%) of companies who do use a third-party to manage and secure information say this option is “more cost-effective” for their business, while half (51%) of companies who do not use a third-party supplier cite it as being “more costly” than their current process.
• Checking The Box? Almost all merchants (91%) are very or extremely confident that their company adequately trains end-users, relying on conferences and seminars (71%) to keep them trained and engaged. Notably, small (92%) and medium (95%) merchants are significantly more confident than their large (79%) counterparts, where the most common form of end-user engagement comes from training videos (82%).
• Looking for a Leader: A majority of companies (87%) say they would welcome involvement from the U.S. government to fight cybersecurity threats as well as enhance policy (84%). Large merchants (threats-76%, policy-74%) and retail companies (threats-81%, policy-75%) are significantly less likely to want the U.S. government involved.

Click here to download the report.

Methodology

The survey was conducted by Hanover Research and included 300 respondents for small, medium, and large-size enterprises across hospitality, retail, and food & beverage spaces.

About FreedomPay

FreedomPay’s Next Level Commerce™ platform transforms existing payment systems and processes from legacy to leading edge. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce. The company maintains a world-class security environment and was first to earn the coveted validation by the PCI Security Standards Council against Point-to-Point Encryption (P2PE/EMV) standard in North America. FreedomPay’s robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack across multiple continents allowing enterprises to deliver an innovative Next Level experience on a global scale. www.freedompay.com

About Cornell Center of Hospitality Research

Cornell’s Center for Hospitality Research (CHR) was created in 1992 for the purpose of expanding both the quality and volume of research supporting the hospitality industry and its related service industries. The CHR’s mission is to advance hospitality thought leadership by publishing and disseminating impactful and actionable research that industry leaders can put into practice today; facilitating the exchange of new ideas by bringing students, faculty, and industry professionals together at roundtables, panels, conferences, and other engaging events; and partnering with the other Centers and Institutes in the Cornell Nolan School of Hotel Administration to maximize research, event, and networking collaborations.

Attachment

• New research published by FreedomPay and Cornell University’s Center for Hospitality Research 

Hill + Knowlton Strategies for FreedomPay
FreedomPay@hkstrategies.com

Menlo Park, California, Nov. 11, 2021 (GLOBE NEWSWIRE) — Zenfolio, the leader in creative and business solutions for photographers, announced that it has acquired Format, a major website-building platform and marketplace based in Toronto, Canada, used by professional photographers and artists worldwide. Both companies offer Software as a Service (SaaS) business solutions – Zenfolio since 2006 and Format since 2010. Combined, these two market leaders provide the most comprehensive service offering to photographers and artists, leveraging their respective brands and complementary strengths.

John Loughlin, Zenfolio CEO, shared the rationale for bringing the two companies together. “We deeply respect the Format brand, their employees and community, and the business they have built,” he stated. “This combination will expand the capabilities and services offered to our respective customers.”

Lukas Dryja, Format CEO and Co-Founder, shared his enthusiasm for the merger. “Since creating Format, we have cared deeply about our community and team,” he said. “Partnering with Zenfolio is a tremendous opportunity for both. The Format community will benefit from Zenfolio’s extensive technology services while Zenfolio customers will have access to world class tools and designs to showcase their work online.”

The Format acquisition continues a strategy launched by Zenfolio three years ago to reimagine the company. Zenfolio recently unveiled a new cloud-based technology platform using artificial intelligence and machine-learning that is redefining the business of photography. Zenfolio leads the industry in workflow automation, helping photographers manage and grow their businesses, while spending more time behind the lens.

“Bringing together two leading platforms for photographers allows us to accelerate the development of new services by taking best in breed features and capabilities and making them available to customers of both companies,” Loughlin explained.

The two brands will initially operate in parallel, each retaining its current employee workforce and subscription base. Format will continue to be headquartered in Toronto. Zenfolio headquarters will continue to be located in Menlo Park, California.

About Zenfolio

Zenfolio Inc., a Centre Lane Partners company, offers advanced business solutions enabling photographers to easily show, share and sell their images. For the past 15 years, Zenfolio has proudly served photographers around the globe.

About Format

Format empowers professional photographers and creatives by transforming them into successful entrepreneurs. Founded in 2010 in Toronto, Canada, Format is a proudly self-funded company with a remote team distributed globally.

Vista Point Advisors acted as the exclusive advisor to Format in its sale to Zenfolio.

Attachment

• Zenfolio, the leader in creative and business solutions for photographers

Zenfolio
pr@zenfolio.com

Strategic Partnership to Originate and Purchase Hospitality Loans Across All Major US Markets as Madison Newbond

NEW YORK, Nov. 08, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, and Newbond Holdings (Newbond), a vertically integrated real estate investment and operating platform founded by Neil Luthra and Vann Avedisian, today announced the launch of Madison Newbond, an institutional lending platform that will provide first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide.  The partnership launched with approximately $500 million of initial lending capacity and will add scale in line with the opportunity.

Madison Newbond will build on Madison Realty Capital’s institutional lending platform and deep relationships as well as Newbond’s hospitality industry expertise and strong operational knowledge. The partnership will offer unique financing programs to new and existing borrowers across the hospitality spectrum from limited-service hotels to ultra-luxury resorts and will target opportunities including transitional lending and ground up developments across major metropolitan markets.

“The hospitality industry has experienced significant disruption throughout the pandemic and there is a clear need for creative and flexible lending solutions for hotel owners as they continue to recover from the changes to their business plans,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “We are enthusiastic about joining forces with Newbond to expand our product offering tailored to meet the evolving needs of hospitality real estate owners and operators.”

“We are excited to launch this partnership with Madison Realty Capital, a firm with a world-class lending platform, and a team that we are deeply familiar with, to provide a wide range of lending options to the hospitality market,” said Neil Luthra, Founding Partner at Newbond. “Madison’s substantial resources coupled with Newbond’s extensive hotel underwriting capabilities will best position the platform to identify and capitalize on exciting opportunities in the hospitality space.”

Madison Realty Capital and the principals of Newbond have significant experience lending and investing in the hospitality sector.  The principals of Newbond have completed over $15 billion of debt and equity investments.  Notable recent Madison Realty Capital transactions include a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami and a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale.

For any financing inquiries or to request additional information about the Madison Newbond platform, please contact Andrew Fichte, a partner at Newbond, at afichte@newbond.com and Josh Zegen, at josh@madisonrealtycapital.com.

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that manages approximately $6.7 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $16 billion in transactions in the U.S. providing reputable borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has over 60 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

About Newbond Holdings 

Newbond Holdings, founded by Neil Luthra and Vann Avedisian in 2021, is a real estate investment and operating platform focused on debt and equity investments across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms.  The partners at Newbond have completed over $15 billion of debt and equity transactions.  As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.

Attachments

• Josh Zegen
• Neil Luthra 

For Madison Realty Capital: Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com

For Newbond: Eric Waters
Great Ink Communications, Ltd.
212-741-2977
Eric.Waters@greatink.com

Tom Nolan
Great Ink Communications, Ltd.
212-741-2977
Tom@greatink.com

The Canadian company is currently participating in the World Climate Summit and has recently renewed its climate neutral certification for the fourth year running.

MONTREAL, Nov. 08, 2021 (GLOBE NEWSWIRE) — Climate issues are more crucial than ever, and the ALDO Group is dedicated to maintaining its commitment to building a low-carbon future. In addition to announcing the renewal of its climate neutral certification for a fourth consecutive year, the company is currently participating in the 11^th World Climate Summit in Glasgow, Scotland. A few weeks ago, the Canadian fashion footwear company also joined We Mean Business, an international coalition of more than 600 companies calling upon the leaders of the world’s largest economies to reinforce their climate action objectives during the G20 and COP26 discussions.

“Inspired by the COP21 in Paris 6 years ago, we made a decision in 2018 to become the first climate neutral fashion footwear company. This year’s COP will be a critical meeting – there is massive worldwide support for bold action on climate change. We hope that our participation will contribute in a small way to a very big global challenge,” said David Bensadoun, CEO of the ALDO Group.

World Climate Summit: Rallying the Fashion Industry’s Stakeholders

On November 8 at 10 a.m. (GMT), Jonathan Frankel, Senior Vice-President of APS at the ALDO Group, will join the panel Lead by Example – Harnessing Innovation Towards a Carbon Neutral Fashion & Textile Industry to discuss how the fashion industry can work towards reducing its environmental footprint and how collaboration between manufacturers, designers and consumers is key to reach carbon neutrality.

“The long-term sustainability of the global fashion industry requires systemic change that goes beyond the capabilities of any one company. We cannot fight this problem alone. We strongly believe in collaboration, and that is why we wanted to take part in this unifying event,” said Jonathan Frankel.

Well aware that the fashion industry has an impact on global warming, the ALDO Group intensified its climate actions in recent years. The organization is also a member of multi-stakeholder associations that promote partnerships for concerted industry-wide actions, such as the Sustainable Apparel Coalition (SAC), the Fashion Pact and the United Nations Fashion Industry Charter for Climate Action (UNFCCC).

The ALDO Group’s Journey Towards Reducing Its Carbon Footprint

In 2018, the ALDO Group became the first fashion footwear and accessories company in the world to be certified climate neutral for its corporate stores, offices and distribution centres. The organization then reinforced its environmental commitment by also having eCommerce shipments and product transportation certified climate neutral.

In 2020, the company reduced carbon emissions from its operations by 74% compared to 2013. This year, it carried forward its sustainability journey by continuing to reduce its net emissions and compensating the unavoidable ones through a combination of nature-based forest conservation and clean energy projects. And for the fourth consecutive year, the ALDO Group has received its climate neutral company certification from the South Pole Group – a leading provider of global sustainability solutions and services with a transparent and rigorous certification process.

“It’s very exciting to see the ALDO Group continuing to make progress on climate action. The company has demonstrated industry leadership and we congratulate them on their commitments and ever-increasing ambition,” said Renat Heuberger, CEO and co-founder of South Pole.

Having achieved significant reductions for its operations’ emissions, the ALDO Group has been addressing other important issues: from waste management to its positive impact on local communities, from teaming up with partners to improve their social and environmental footprint to promoting diversity and inclusion. In terms of products, the company aims to continue introducing more innovative low impact materials in its collections and to increase its use of recycled materials, such as polyester. The company is also working to decarbonize it supply chain by working closely with its suppliers.

It is also important to remember that in 2019, the ALDO Group joined the Science Based Targets Initiative (SBTi). Its GHG reduction targets are therefore in line with climate science.

Member of the We Mean Business Coalition

Recognizing the need for collective climate action, the ALDO Group signed the We Mean Business coalition’s open letter earlier this month. Ahead of the crucial G20 and COP 26 summits, more than 600 companies from around the world called on the leaders of the world’s largest economies to do their utmost to limit global temperature rise to 1.5 °C and to reinforce their objectives. The signatories represent sectors ranging from energy and transportation to fashion and construction.

To read the letter and consult the list of companies who signed it, please visit https://www.wemeanbusinesscoalition.org/g20-2021/#letter-block.

For more information about the ALDO Group’s commitment to sustainability, please visit https://responsibility.aldogroup.com/.

About the ALDO Group
The ALDO Group is a world-leading creator and operator of desirable footwear and accessory brands. With a presence in over 100 countries around the world, the organization operates under two signature brands, ALDO and Call It Spring, and a multi-brand retail concept, GLOBO. The ALDO Group is also an industry-recognized wholesale distributor and third party sourcing provider of fashion footwear, handbags and accessories. In addition to its head office in Montreal, the ALDO Group has international offices in Europe and in Asia. Guided on a daily basis by its purpose A journey to create a world of love, confidence, and belonging, the ALDO Group is simply unique. For more information, visit www.aldogroup.com.

Media Contact:
press@aldogroup.com

Hammerle will be responsible for the formation and execution of Intelex’s strategy as it delivers safer, cleaner and more efficient operations for our customers.

Toronto, Canada, Nov. 05, 2021 (GLOBE NEWSWIRE) — Intelex Technologies, ULC, a leading global provider of cloud-based Environmental, Health, Safety and Quality (EHSQ) management software, today announced the appointment of Melissa Hammerle to the role of president of the organization.

“I’m excited to bring Melissa’s deep continuous improvement experience and leadership to the Intelex team. Melissa will be a key driver as we work to help customers drive EHS and ESG performance to levels previously unimaginable,” said Justin McElhattan, Group President of EHS businesses for Intelex parent company Fortive.

Hammerle brings experience driving growth, customer retention and innovation through leadership roles in general management, product, marketing, sales, customer success and the Fortive Business System (FBS). She has led teams to co-create cultures with high engagement, ownership and customer centricity across a range of businesses, from startups to large scale enterprises.

“I’m thrilled to join the Intelex team,” said Hammerle. “We have a profoundly impactful mission and a once-in-a-lifetime growth opportunity as investors, business leaders and customers raise the bar on the practices of EHSQ and help our customers achieve their Environment, Social and Governance (ESG) goals.”

Hammerle joins Intelex from Accruent, where, as the Commercial President, she and her team built new sales and marketing growth engines to sustainably deliver software bookings. Previously, she led the team that created Fluke’s first Internet of Things business to serve customer maintenance workflows, accelerated strategic initiatives across Fortive as the FBS Director of Growth, and delivered strong revenue and employee engagement as the VP & GM of Fluke Calibration.

Prior to joining Fortive, Hammerle served as a Captain in the U.S. Army, where she led a company in Iraq.

She earned an MBA from Harvard University and an BA in Economics from Dartmouth College.

About Intelex Technologies, ULC
Intelex Technologies, ULC is a global leader in environmental, health, safety and quality (EHSQ) management software. Since 1992, Intelex employees across the globe have been committed to innovating and enabling organizations to send their employees home safely every day, leaving behind a more sustainable world to the generations that follow, and manage quality so that only the safest and highest quality products make it to market. Intelex’s scalable, web-based platform and applications have helped clients across all industries improve business performance, mitigate organization-wide risk, and ensure sustained compliance with internationally accepted standards (e.g. ISO 9001, ISO 14001, ISO 45001, and OSHAS 18001) and regulatory requirements. Almost 1,400 customers in 195 countries trust Intelex to power their EHSQ initiatives. Headquartered in Toronto with regional offices and employees around the world, Intelex became an Industrial Scientific company in 2019. In 2020, Intelex acquired ehsAI, provider of a SaaS-based next-wave compliance automation solution that leverages artificial intelligence and machine learning algorithms. For more information about Intelex, visit www.intelex.com.

Attachment

• Melissa Hammerle\

Sandy Smith, Head of Global Content Marketing
Intelex Technologies, ULC
+1 216-375-0484
Sandy.Smith@intelex.com

New partnership will allow Indonesian mobile operator to bring personal cloud services to a market of more than 170 million subscribers

BRIDGEWATER, N.J., Nov. 04, 2021 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and innovator of cloud, messaging and digital solutions, today announced it would supply its personal cloud solution to Telkomsel, Indonesia’s largest mobile operator. The addition of the Synchronoss Personal Cloud solution will give Telkomsel’s subscribers the ability to back up and manage their valuable digital content, including photos and videos, from any device.

The white-label Synchronoss Personal Cloud solution—branded “Floudrive” and managed by Telkomsigma—will be made available to Telkomsel’s 170 million subscribers as a premium feature. Subscribers will be able to choose between two different storage tiers and enjoy an initial free 30-day period. The solution gives subscribers a reliable and intuitive cloud storage experience, with the ability to backup and sync digital content, while also introducing advanced tagging and search capabilities.

“We are excited to be partnering with Synchronoss to integrate its personal cloud solutions into our consumer channel,” said Tanto Suratno, Director of Business and Sales, Telkomsigma. “Having outgrown our existing personal cloud offering, now is the perfect time to embrace this opportunity and provide our subscribers with an advanced solution that meets their evolving needs. We look forward to enabling our customers to optimize and manage their precious digital content, and to protect and store it safely and securely. As well as benefiting our customers, this partnership also represents the next step as we move towards offering more digital services.”

The solution will be delivered through Synchronoss’ agreement with Telkomsigma, the IT Services and Data Center arm of Telkomsel and Telkomsigma’s parent company, Telkom Indonesia. Unlike other cloud solutions on the market, the Synchronoss-powered personal cloud allows subscriber data to be stored in-country, a critical requirement for Telkomsel to adhere to Indonesian law.

Anthony Socci, President and General Manager, APAC for Synchronoss, said he is delighted to be working with Telkomsel on its new cloud offering. “As a private cloud solution provider, we are always looking for ways to support telecom partners in their mission to deliver more varied and advanced digital services to their subscribers. This cloud solution will be instrumental to Telkomsel as it facilitates a more integrated experience and promotes a safer handling of personal assets,” he said. “This deal builds on the success we have already experienced with Telkomsigma that impressed and inspired Telkomsel to deliver similar offerings to their mobile subscribers. It will also create greater synergies between the two organizations within the group.”

To learn more about Synchronoss cloud solutions, visit synchronoss.com/solutions/cloud.

About Synchronoss
Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services and content they love. That’s why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com.

Media Contacts

For Synchronoss:
Anais Merlin,
CCgroup,
E: synchronoss@ccgrouppr.com

Investor Contact
For Synchronoss: Todd Kehrli/Joo-Hun Kim, MKR Investor Relations, Inc., E: investor@synchronoss.com

Investor Relations Contact

Kimberly Rogers
Hayden IR
ir@genasys.com

mimik’s hybrid edgeCloud platform is poised to revolutionize the delivery of microservices for applications in industries such as healthcare, automotive, manufacturing, logistics, retail, and banking

SAN FRANCISCO, Nov. 03, 2021 (GLOBE NEWSWIRE) — mimik Technology, Inc., a pioneer in hybrid edge cloud technology and business solutions, today announced a $14.3 million Series A funding round led by Pier 88 Investment Partners, a San Francisco-based alternative investment management firm. Other participants include Cathie Wood, Founder, CIO and CEO of ARK Invest and member of the mimik Board of Directors, along with existing investors Primera Capital and NLabs. mimik plans to use the funds to expand its global go-to-market operations including sales, solutions delivery, developer outreach, technical training, and partnership development.

mimik’s hybrid edgeCloud platform transforms cloud applications from a fixed client-server architecture—where server functionality is limited to servers in data centers and gateways—to a fully distributed architecture, enabling billions of smart client devices to act as servers and delivering nearly endless scalability. The mimik platform enables heterogeneous applications, processes, and devices to autonomously communicate in clusters on the edge regardless of their operating system or network. Because data is processed at the edge, mimik’s platform requires significantly less bandwidth and power, reduces cloud hosting costs, is more resilient than traditional client-server architecture, and offers much higher levels of data privacy and security.

“We have spent nearly a decade in R&D, building a platform to address the six major concerns of most developers: speed, cost, security, data privacy, interoperability, and scale,” said mimik Founder and CEO Fay Arjomandi. “The mimik platform offers a strong foundation to build sustainable edge cloud services to help accelerate digital transformation and power the hyper-connected digital economy.”

“Having invested in next-generation technologies like mobility, cloud computing, and cyber security for nearly two decades, our team is excited about the compelling growth opportunities we see in edge computing,” says Frank Timons, Founder and CEO of Pier 88 Investment Partners. “mimik’s technology lead and seasoned executive team position the company to capitalize on the next wave of growth for the computing industry as its nuanced device microservice architecture enhances security and privacy while reducing costs of traditional cloud computing solutions.”

“Primera Capital has funded some of the world’s most transformative technology companies over the past two decades,” said Ori Sasson, General Partner, Primera Capital. “We invest in extraordinary products, opportune markets, and daring entrepreneurs with unwavering visions, and with the disruptive potential of their edge platform and strong leadership team, mimik aligns with these key criteria.”

“We’re thrilled to be working with funding partners such as Pier88, NLabs, Primera Capital and others. They understand the essential benefits of the mimik hybrid edgeCloud platform and the massive market opportunity ahead,” said Siavash Alamouti, Executive Chairman of mimik. “We’re in the midst of a massive transformation across all industries. The burgeoning hyper-connected economy will be orders of magnitude larger than mobile internet, and mimik’s platform will help accelerate this technology revolution and in a much more sustainable way.”

To drive the adoption of hybrid edge cloud computing, mimik has established strategic partnerships with leading cloud companies such as Amazon Web Services (AWS) and IBM and technology services companies such as Tata Elxsi. The platform has been successfully used to complete digital transformation with a number of companies with impressive results and is now being used by many early-adopter customers and partners. For more information on mimik’s hybrid edgeCloud platform, available edge-based microservices, and digital transformation services, visit mimik.com.

About mimik
mimik provides a hybrid edge cloud computing application development platform and business enablers for digital transformation. Developers and enterprises can achieve their business objectives without compromising time to market, cost, scalability, interoperability, data privacy and security, and being locked in proprietary technology stacks. mimik enables hybrid edge native application development that works across ecosystems of devices (iOS, Android, Windows, macOS, Linux, QNX, Raspbian, OpenWRT and smart IoT FreeRTOS sensors), networks, and any private and/or public cloud. The mimik platform is the fastest and most direct way of connecting siloed and fragmented applications from the edge with minimal reliance on middlemen. We can help enterprises save millions of dollars in legacy backend integration while reducing their ongoing operational costs through an edge-in approach. mimik enables systematic digital transformation for a sustainable digital economy to help enterprises secure business leadership in the hyper-connected world. For more information, visit: https://mimik.com and https://developer.mimik.com

Media Contact:
Beth Morrissey
PR@mimik.com

Aggressive expansion planned in growing Smart Building and ESG data space

PHILADELPHIA, Nov. 03, 2021 (GLOBE NEWSWIRE) — Microshare Inc., a leading provider of Smart Building data solutions to multinationals and public sector institutions, has closed $15 million in financing from the Avenue Sustainable Solutions Fund, L.P., Avenue Capital Group’s vehicle for supporting firms working to bring about a more sustainable world.

Microshare’s EverSmart suite of Smart Facilities solutions help global enterprises like GlaxoSmithKline, Aramark and Rent-A-Center reassure workforce, tenants and customers about the safety of indoor spaces while producing operational efficiencies as well as data insights that boost ESG (Environment | Social | Governance) performance.

“The Avenue Sustainable Solutions Fund investment represents a major vote of confidence in the transformational nature of our EverSmart solutions,” said Microshare CEO and Co-Founder Ron Rock. “As the pandemic hopefully subsides, our ability to create data where none existed before has never been more relevant as workers and tenants grappled with new concerns about indoor spaces, and companies rethink their real estate footprint and face new global expectations on climate and other ESG issues.”

“Microshare is a natural fit for our strategy,” said Sean Coleman, co-manager of the Avenue Sustainable Solutions Fund. “We are excited to back Microshare’s strategy to address growing corporate demand for improvements in building energy efficiency and water consumption, both of which are critical considerations for a sustainable future.”

Philadelphia-based Microshare provides Sensing-as-a-Service solutions to clients in Commercial Real Estate, Corporate, Healthcare, Manufacturing and Pharmaceuticals sectors. The company received international attention for the Universal Contact Tracing wearables it introduced early in the pandemic, a solution credited with preventing major outbreaks at essential manufacturing industries like pharmaceuticals and logistics.

Microshare will use the funds to expand its sales and development teams, grow its business in North America, Europe and the Middle East, and to solidify the complex supply chain and reseller relationships that underpin its efforts to deploy its data solutions at scale.

Microshare’s solutions create Digital Twins clients’ real-world assets that enable better decisions on operational systems and the data to inform and fuel impactful sustainability initiatives.

The company recently reached a number of milestone agreements, including:

• An agreement with Aramark, the largest facilities management firm in the U.S., for Microshare to provide the technological backbone of its AIWX Connect Predictive Cleaning solutions, now being deployed in major hospitals, stadiums and other infrastructure;
• An agreement with the British government and the University of Leeds on a test of its contact tracing wearables for infection reduction in dozens of elder care settings;
• Renewals of global contracts for Universal Contact Tracing wearables for GSK’s manufacturing plants globally, Rent-A-Center’s headquarters facilities, and several other clients in the Energy/Logistics sectors.

About Avenue Sustainable Solutions
The Avenue Sustainable Solutions Fund, L.P. seeks to provide creative financing solutions to high-growth companies that can demonstrate a measurable, positive environmental outcome alongside competitive financial returns. It focuses generally on North American companies within the underserved segment of the market created by the widening financing gap between commercial banks and larger debt funds. For additional information on Avenue Capital Group, which is a global investment firm with assets estimated to be approximately $11.7 billion as of September 30, 2021, please visit www.avenuecapital.com.

About Microshare
Microshare’s EverSmart suite of Smart Building solutions are deployed at scale around the world to bring safety, wellness, cost savings and sustainability data to our clients’ real estate assets. Microshare is a leader in LoRaWAN applications and a proud member of the LoRa Alliance®. www.microshare.io

Contact: Simon Redgate sredgate@microshare.io  +44(0)7850112703

Photo: https://www.globenewswire.com/NewsRoom/AttachmentNg/df48c883-9f8a-4e04-823a-5e421d771217