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CHICAGO, IL / ACCESSWIRE / March 2, 2017 / Good Gaming, Inc. and CMG Holdings Group, Inc. (OTC PINK: GMER and OTC PINK: CMGO): Good Gaming, Inc., owner and operator of the world's most scalable eSports tournament platform and social network for gamers, today announces its plans to monetize its site effective May 1st, 2017. As part of its plans to cross the chasm into revenue generation, the Company will implement a freemium model, whereby free members - whose numbers have jumped from zero to over 12,500 in just one year - will be offered monthly subscription plans that will give them various levels of access to the Company's cash tournaments, premium content, and other modules. Free members will be granted limited access to low pot tournaments each month and will be required to view video and banner advertising while they access the GG site. Paid members will not have to view any advertisements except during sponsored tournaments. Subscription plans will be available with tiered levels of service and discounts given to members that prepay in advance. Additionally, the Company is creating an a la carte menu that will allow members of all classes to purchase goods and services to multiply their winnings in tournaments, increase the amount of proprietary content they can view, enter raffles for prizes, and acquire equipment that will improve their chances at success in eSports. GG's proprietary Mercenary System will be integrated into the site so that members may purchase, buy, and sell goods and services attached to their accounts. With signups to the GG site increasing significantly in 2017, management believes the time is coming to flip GG's model from brand awareness to revenue generation. Based on guidance from GG's Board, in 4Q16, the Company substantially raised the size of its tournament jackpots and increased the frequency of tournaments to three per week. Besides building significant brand awareness and credibility, these events gave management invaluable information regarding subscriber acquisition costs. The data from these events clearly demonstrate that jackpots for tournaments greater than $250 - $500 do not provide adequate returns to the Company. As such, management decided to increase the frequency of tournaments, while trimming payouts to $500 or less, which management believed would drive increased traffic to the site. With these moves and the addition of Hearthstone Cup Tournament (HCT) points, which were approved only one month ago by Blizzard, GG has witnessed a dramatic increase in its unique visitors, quality of traffic, and signups to its social network. Blizzard is now endorsing GG through its social media channels and is opening the Company up to its vast audience of players, which has dramatically increased traffic to GG's site. To this end, in February alone, GG increased its membership count by roughly 20%, which was the greatest monthly performance in the Company's history. HCT points will be awarded to competitors, along with smaller cash pots throughout 2017, providing GG an opportunity to take its membership base and brand awareness to the next level. The Company is applying to Blizzard to increase its authorization to offer HCT point tournaments from 16 events per month to 24 - 32 events per month - which management expects will further increase traffic to the GG site. On the operational front, the Company has implemented an aggressive 60 - 90 day plan to take its business to the next level. GG has engaged ViaOne Services, LLC to implement search engine optimization (SEO) and pay-per-click advertising (PPC) to expand its awareness on the Web, drive traffic, and improve the quality of traffic delivered to its site. The Company is also engaging ViaOne for back office support, financial controls, and other support services, which positions GG to become a substantially improved reporting entity. Regarding the GG website, the Company recently reskinned it to make it more attractive to gamers and improve conversions of unique visitors to members. Further enhancements are planned, which will implement next-gen coding and make the site more interactive and easier to navigate. With regard to micro-transactions and the Company's planned proprietary Mercenary System, GG is implementing a micro-transaction marketplace for its Minecraft server to generate revenues from its existing base of players, which typically spend $5 - $10 per month on goods and services. The Minecraft server is now ranked #32 out of 164,157 servers worldwide, and is being expanded in capacity by 200% to further drive stickiness and traffic. Management believes that Minecraft in its own right can become an anchor of the entire business, as some of the top operators in the world have tens of thousands of concurrent sessions at any given time. Looking ahead, GG intends to begin hosting Minecraft tournaments, a new paradigm for that title that currently has no market leader. When expanded, Minecraft is expected to further drive the business and accelerating signups to the social network. Elsewhere, more games are under consideration to further expand play options for GG's membership base. Further, the Company is exploring launching tournaments for titles from publishers other than Blizzard, including Valve's CS.GO, Riot Games' League of Legends, Take2Interactive's NBA2K, Electronic Arts' sports titles, Cd Projekt Red's Gwent, and RocketLeague by Psyonix, which should add substantial new audiences to its social network community and help push GG's model viral. Altogether, the Company continues to improve its social network in order to maintain its market leadership in eSports tournaments and gamer social networking. GG also is pleased to announce that the Company is in strategic discussions with numerous Native American Tribes, including a tribe with dozens of cafes and casinos worldwide. The Company is pursuing a B2B model with these entities to supplement its existing B2C strategy. Management envisions that these tribes will implement global eSports tournaments that will culminate in LAN-based finals at real world properties. Additionally, these groups may provide sponsorships, investment capital, and enhanced branding for the GG franchise. With regards to financing, GG's angel investors and their affiliates have been funding the Company's burn since November 2016 to the tune of $75,000 in debentures per month. The investors have the option to to roll their notes into a larger financing round at the same terms as new investors. To this end, GG has engaged a FINRA firm to execute a capital raise using preferred stock. The investment banking firm is mandated to introduce GG to family offices, institutions, and strategic investors. Management expects this process to take approximately three months, culminating in potentially permanent financing that will fully fund GG's business plan. Separately, as discussed roughly one year ago with investors, now that the Company is entering a new chapter in its evolution and based on discussions with its advisors, GG intends to file for a reverse split that will enhance the Company's attractiveness as an investment opportunity. GG's Board of Directors has approved a 1 - 1000 reverse split, which will equally impact all classes of shares, including series A B C preferred shares and common shares. Management wants to make it clear that, unlike most other OTC stocks, this corporate action is not being done to facilitate a cash grab or massive dilution to shareholders. On the contrary, GG is implementing a recap in order to take its business to the next level, up-list the stock to the OTCQB, and attract long-term investors including family offices and institutions that will not typically invest in sub-penny stocks. It is mandated that all preferred shares will convert into common shares on closing. Upon completion of this corporate action, GG intends to reduce authorized common shares from 2.0BN to 100MM, and to reduce authorized preferred shares from 450MM to 2.0MM. Fully-diluted shares, pre-financing, will approximate 36.5MM with a free trading float of roughly 2.0MM. Debt outstanding after the recap through conversions and/or repurchase will be nil. With regard to GG's Advisory Board, Kevin Harrington and his consulting firm, KBHJJ, have ceased participation due to their limited time to commit to the Company's advancement. The Company would like to thank Mr. Harrington and KBHJJ for introductions made during their tenure. KBHJJ was not issued any cash or equity for their services. GG is in discussions with a world-renowned inventor and member of the Native American community to join its Advisory Board and invest in the Company. While there are no assurances, GG is excited about this potential appointment who has indicated an interest in introducing the Company to leading tribes across the nation that are looking for a strategic partner in the eSports marketplace. Vik Grover, CEO, said, "We have momentum building in our business, as evidenced by our significant growth in members in the past few weeks. We spent the vast majority of 2016 testing, refining, and improving our platform. We can now confidently say we are the owner and operator of the premiere tournament platform for eSports and the only provider of social networking for amateur gamers worldwide, which now number over 250MM up from 205MM one year ago. It is time to take our business to the next level, not only by crossing the chasm into revenue generation, but by taking our equity to a higher level that will be more attractive to a broader range of investors that require a better exchange than the pink sheets. Our monetization strategy should bear fruit for our loyal investors that have waited over a year for us to punch this ticket into the end zone. As I promised in our original investor call one year ago, we would only pursue this corporate action if it was in the best interests of shareholders. All of the existing angel investors, including myself, who funded the Company in early 2016, will suffer the same impact as common shareholders. Shareholder ownership % of the Company will not change as a result of the reverse split and conversions, and there will be no flood of common shares issued to the Street as many OTC Companies do just to keep the lights on. In fact, we expect our angel round investors to extend their lockup on closing of the recap so there should be no confusion or concern from new and existing investors about what is going on here. Once it is completed, the reverse split and recap will open doors for us to build credibility during discussions with new investors, including strategic parties who may sponsor the site, subsidize tournaments, invest in the Company and/or license our platform for worldwide events. The time has come to take GG to its next chapter and achieve our potential." Good Gaming, Inc. is a leading tournament gaming platform and online destination targeting the over 250 million amateur eSports players worldwide that want to compete at the high school or college level. Register now to join the Good Gaming community and make sure to sign up to all the awesome events, including upcoming tournaments offering amazing prize pools: https://www.good-gaming.com. Statements not historical in nature, are intended, and are hereby identified as, "forward-looking statements." Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect," and similar expressions. The Company cautions readers that forward-looking statements including, without limitation, those relating to future business prospects are subject to risks and uncertainties that could cause actual results to differ materially from projections, estimates or aspirations, due to factors such as those relating to economic, governmental, technological, and any risks and factors identified from time to time in the Company's reports filed with the SEC.


CHICAGO, IL / ACCESSWIRE / March 2, 2017 / Good Gaming, Inc. and CMG Holdings Group, Inc. (OTC PINK: GMER and OTC PINK: CMGO): Good Gaming, Inc., owner and operator of the world's most scalable eSports tournament platform and social network for gamers, today announces its plans to monetize its site effective May 1st, 2017. As part of its plans to cross the chasm into revenue generation, the Company will implement a freemium model, whereby free members - whose numbers have jumped from zero to over 12,500 in just one year - will be offered monthly subscription plans that will give them various levels of access to the Company's cash tournaments, premium content, and other modules. Free members will be granted limited access to low pot tournaments each month and will be required to view video and banner advertising while they access the GG site. Paid members will not have to view any advertisements except during sponsored tournaments. Subscription plans will be available with tiered levels of service and discounts given to members that prepay in advance. Additionally, the Company is creating an a la carte menu that will allow members of all classes to purchase goods and services to multiply their winnings in tournaments, increase the amount of proprietary content they can view, enter raffles for prizes, and acquire equipment that will improve their chances at success in eSports. GG's proprietary Mercenary System will be integrated into the site so that members may purchase, buy, and sell goods and services attached to their accounts. With signups to the GG site increasing significantly in 2017, management believes the time is coming to flip GG's model from brand awareness to revenue generation. Based on guidance from GG's Board, in 4Q16, the Company substantially raised the size of its tournament jackpots and increased the frequency of tournaments to three per week. Besides building significant brand awareness and credibility, these events gave management invaluable information regarding subscriber acquisition costs. The data from these events clearly demonstrate that jackpots for tournaments greater than $250 - $500 do not provide adequate returns to the Company. As such, management decided to increase the frequency of tournaments, while trimming payouts to $500 or less, which management believed would drive increased traffic to the site. With these moves and the addition of Hearthstone Cup Tournament (HCT) points, which were approved only one month ago by Blizzard, GG has witnessed a dramatic increase in its unique visitors, quality of traffic, and signups to its social network. Blizzard is now endorsing GG through its social media channels and is opening the Company up to its vast audience of players, which has dramatically increased traffic to GG's site. To this end, in February alone, GG increased its membership count by roughly 20%, which was the greatest monthly performance in the Company's history. HCT points will be awarded to competitors, along with smaller cash pots throughout 2017, providing GG an opportunity to take its membership base and brand awareness to the next level. The Company is applying to Blizzard to increase its authorization to offer HCT point tournaments from 16 events per month to 24 - 32 events per month - which management expects will further increase traffic to the GG site. On the operational front, the Company has implemented an aggressive 60 - 90 day plan to take its business to the next level. GG has engaged ViaOne Services, LLC to implement search engine optimization (SEO) and pay-per-click advertising (PPC) to expand its awareness on the Web, drive traffic, and improve the quality of traffic delivered to its site. The Company is also engaging ViaOne for back office support, financial controls, and other support services, which positions GG to become a substantially improved reporting entity. Regarding the GG website, the Company recently reskinned it to make it more attractive to gamers and improve conversions of unique visitors to members. Further enhancements are planned, which will implement next-gen coding and make the site more interactive and easier to navigate. With regard to micro-transactions and the Company's planned proprietary Mercenary System, GG is implementing a micro-transaction marketplace for its Minecraft server to generate revenues from its existing base of players, which typically spend $5 - $10 per month on goods and services. The Minecraft server is now ranked #32 out of 164,157 servers worldwide, and is being expanded in capacity by 200% to further drive stickiness and traffic. Management believes that Minecraft in its own right can become an anchor of the entire business, as some of the top operators in the world have tens of thousands of concurrent sessions at any given time. Looking ahead, GG intends to begin hosting Minecraft tournaments, a new paradigm for that title that currently has no market leader. When expanded, Minecraft is expected to further drive the business and accelerating signups to the social network. Elsewhere, more games are under consideration to further expand play options for GG's membership base. Further, the Company is exploring launching tournaments for titles from publishers other than Blizzard, including Valve's CS.GO, Riot Games' League of Legends, Take2Interactive's NBA2K, Electronic Arts' sports titles, Cd Projekt Red's Gwent, and RocketLeague by Psyonix, which should add substantial new audiences to its social network community and help push GG's model viral. Altogether, the Company continues to improve its social network in order to maintain its market leadership in eSports tournaments and gamer social networking. GG also is pleased to announce that the Company is in strategic discussions with numerous Native American Tribes, including a tribe with dozens of cafes and casinos worldwide. The Company is pursuing a B2B model with these entities to supplement its existing B2C strategy. Management envisions that these tribes will implement global eSports tournaments that will culminate in LAN-based finals at real world properties. Additionally, these groups may provide sponsorships, investment capital, and enhanced branding for the GG franchise. With regards to financing, GG's angel investors and their affiliates have been funding the Company's burn since November 2016 to the tune of $75,000 in debentures per month. The investors have the option to to roll their notes into a larger financing round at the same terms as new investors. To this end, GG has engaged a FINRA firm to execute a capital raise using preferred stock. The investment banking firm is mandated to introduce GG to family offices, institutions, and strategic investors. Management expects this process to take approximately three months, culminating in potentially permanent financing that will fully fund GG's business plan. Separately, as discussed roughly one year ago with investors, now that the Company is entering a new chapter in its evolution and based on discussions with its advisors, GG intends to file for a reverse split that will enhance the Company's attractiveness as an investment opportunity. GG's Board of Directors has approved a 1 - 1000 reverse split, which will equally impact all classes of shares, including series A B C preferred shares and common shares. Management wants to make it clear that, unlike most other OTC stocks, this corporate action is not being done to facilitate a cash grab or massive dilution to shareholders. On the contrary, GG is implementing a recap in order to take its business to the next level, up-list the stock to the OTCQB, and attract long-term investors including family offices and institutions that will not typically invest in sub-penny stocks. It is mandated that all preferred shares will convert into common shares on closing. Upon completion of this corporate action, GG intends to reduce authorized common shares from 2.0BN to 100MM, and to reduce authorized preferred shares from 450MM to 2.0MM. Fully-diluted shares, pre-financing, will approximate 36.5MM with a free trading float of roughly 2.0MM. Debt outstanding after the recap through conversions and/or repurchase will be nil. With regard to GG's Advisory Board, Kevin Harrington and his consulting firm, KBHJJ, have ceased participation due to their limited time to commit to the Company's advancement. The Company would like to thank Mr. Harrington and KBHJJ for introductions made during their tenure. KBHJJ was not issued any cash or equity for their services. GG is in discussions with a world-renowned inventor and member of the Native American community to join its Advisory Board and invest in the Company. While there are no assurances, GG is excited about this potential appointment who has indicated an interest in introducing the Company to leading tribes across the nation that are looking for a strategic partner in the eSports marketplace. Vik Grover, CEO, said, "We have momentum building in our business, as evidenced by our significant growth in members in the past few weeks. We spent the vast majority of 2016 testing, refining, and improving our platform. We can now confidently say we are the owner and operator of the premiere tournament platform for eSports and the only provider of social networking for amateur gamers worldwide, which now number over 250MM up from 205MM one year ago. It is time to take our business to the next level, not only by crossing the chasm into revenue generation, but by taking our equity to a higher level that will be more attractive to a broader range of investors that require a better exchange than the pink sheets. Our monetization strategy should bear fruit for our loyal investors that have waited over a year for us to punch this ticket into the end zone. As I promised in our original investor call one year ago, we would only pursue this corporate action if it was in the best interests of shareholders. All of the existing angel investors, including myself, who funded the Company in early 2016, will suffer the same impact as common shareholders. Shareholder ownership % of the Company will not change as a result of the reverse split and conversions, and there will be no flood of common shares issued to the Street as many OTC Companies do just to keep the lights on. In fact, we expect our angel round investors to extend their lockup on closing of the recap so there should be no confusion or concern from new and existing investors about what is going on here. Once it is completed, the reverse split and recap will open doors for us to build credibility during discussions with new investors, including strategic parties who may sponsor the site, subsidize tournaments, invest in the Company and/or license our platform for worldwide events. The time has come to take GG to its next chapter and achieve our potential." Good Gaming, Inc. is a leading tournament gaming platform and online destination targeting the over 250 million amateur eSports players worldwide that want to compete at the high school or college level. Register now to join the Good Gaming community and make sure to sign up to all the awesome events, including upcoming tournaments offering amazing prize pools: https://www.good-gaming.com. Statements not historical in nature, are intended, and are hereby identified as, "forward-looking statements." Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect," and similar expressions. The Company cautions readers that forward-looking statements including, without limitation, those relating to future business prospects are subject to risks and uncertainties that could cause actual results to differ materially from projections, estimates or aspirations, due to factors such as those relating to economic, governmental, technological, and any risks and factors identified from time to time in the Company's reports filed with the SEC. CHICAGO, IL / ACCESSWIRE / March 2, 2017 / Good Gaming, Inc. and CMG Holdings Group, Inc. (OTC PINK: GMER and OTC PINK: CMGO): Good Gaming, Inc., owner and operator of the world's most scalable eSports tournament platform and social network for gamers, today announces its plans to monetize its site effective May 1st, 2017. As part of its plans to cross the chasm into revenue generation, the Company will implement a freemium model, whereby free members - whose numbers have jumped from zero to over 12,500 in just one year - will be offered monthly subscription plans that will give them various levels of access to the Company's cash tournaments, premium content, and other modules. Free members will be granted limited access to low pot tournaments each month and will be required to view video and banner advertising while they access the GG site. Paid members will not have to view any advertisements except during sponsored tournaments. Subscription plans will be available with tiered levels of service and discounts given to members that prepay in advance. Additionally, the Company is creating an a la carte menu that will allow members of all classes to purchase goods and services to multiply their winnings in tournaments, increase the amount of proprietary content they can view, enter raffles for prizes, and acquire equipment that will improve their chances at success in eSports. GG's proprietary Mercenary System will be integrated into the site so that members may purchase, buy, and sell goods and services attached to their accounts. With signups to the GG site increasing significantly in 2017, management believes the time is coming to flip GG's model from brand awareness to revenue generation. Based on guidance from GG's Board, in 4Q16, the Company substantially raised the size of its tournament jackpots and increased the frequency of tournaments to three per week. Besides building significant brand awareness and credibility, these events gave management invaluable information regarding subscriber acquisition costs. The data from these events clearly demonstrate that jackpots for tournaments greater than $250 - $500 do not provide adequate returns to the Company. As such, management decided to increase the frequency of tournaments, while trimming payouts to $500 or less, which management believed would drive increased traffic to the site. With these moves and the addition of Hearthstone Cup Tournament (HCT) points, which were approved only one month ago by Blizzard, GG has witnessed a dramatic increase in its unique visitors, quality of traffic, and signups to its social network. Blizzard is now endorsing GG through its social media channels and is opening the Company up to its vast audience of players, which has dramatically increased traffic to GG's site. To this end, in February alone, GG increased its membership count by roughly 20%, which was the greatest monthly performance in the Company's history. HCT points will be awarded to competitors, along with smaller cash pots throughout 2017, providing GG an opportunity to take its membership base and brand awareness to the next level. The Company is applying to Blizzard to increase its authorization to offer HCT point tournaments from 16 events per month to 24 - 32 events per month - which management expects will further increase traffic to the GG site. On the operational front, the Company has implemented an aggressive 60 - 90 day plan to take its business to the next level. GG has engaged ViaOne Services, LLC to implement search engine optimization (SEO) and pay-per-click advertising (PPC) to expand its awareness on the Web, drive traffic, and improve the quality of traffic delivered to its site. The Company is also engaging ViaOne for back office support, financial controls, and other support services, which positions GG to become a substantially improved reporting entity. Regarding the GG website, the Company recently reskinned it to make it more attractive to gamers and improve conversions of unique visitors to members. Further enhancements are planned, which will implement next-gen coding and make the site more interactive and easier to navigate. With regard to micro-transactions and the Company's planned proprietary Mercenary System, GG is implementing a micro-transaction marketplace for its Minecraft server to generate revenues from its existing base of players, which typically spend $5 - $10 per month on goods and services. The Minecraft server is now ranked #32 out of 164,157 servers worldwide, and is being expanded in capacity by 200% to further drive stickiness and traffic. Management believes that Minecraft in its own right can become an anchor of the entire business, as some of the top operators in the world have tens of thousands of concurrent sessions at any given time. Looking ahead, GG intends to begin hosting Minecraft tournaments, a new paradigm for that title that currently has no market leader. When expanded, Minecraft is expected to further drive the business and accelerating signups to the social network. Elsewhere, more games are under consideration to further expand play options for GG's membership base. Further, the Company is exploring launching tournaments for titles from publishers other than Blizzard, including Valve's CS.GO, Riot Games' League of Legends, Take2Interactive's NBA2K, Electronic Arts' sports titles, Cd Projekt Red's Gwent, and RocketLeague by Psyonix, which should add substantial new audiences to its social network community and help push GG's model viral. Altogether, the Company continues to improve its social network in order to maintain its market leadership in eSports tournaments and gamer social networking. GG also is pleased to announce that the Company is in strategic discussions with numerous Native American Tribes, including a tribe with dozens of cafes and casinos worldwide. The Company is pursuing a B2B model with these entities to supplement its existing B2C strategy. Management envisions that these tribes will implement global eSports tournaments that will culminate in LAN-based finals at real world properties. Additionally, these groups may provide sponsorships, investment capital, and enhanced branding for the GG franchise. With regards to financing, GG's angel investors and their affiliates have been funding the Company's burn since November 2016 to the tune of $75,000 in debentures per month. The investors have the option to to roll their notes into a larger financing round at the same terms as new investors. To this end, GG has engaged a FINRA firm to execute a capital raise using preferred stock. The investment banking firm is mandated to introduce GG to family offices, institutions, and strategic investors. Management expects this process to take approximately three months, culminating in potentially permanent financing that will fully fund GG's business plan. Separately, as discussed roughly one year ago with investors, now that the Company is entering a new chapter in its evolution and based on discussions with its advisors, GG intends to file for a reverse split that will enhance the Company's attractiveness as an investment opportunity. GG's Board of Directors has approved a 1 - 1000 reverse split, which will equally impact all classes of shares, including series A B C preferred shares and common shares. Management wants to make it clear that, unlike most other OTC stocks, this corporate action is not being done to facilitate a cash grab or massive dilution to shareholders. On the contrary, GG is implementing a recap in order to take its business to the next level, up-list the stock to the OTCQB, and attract long-term investors including family offices and institutions that will not typically invest in sub-penny stocks. It is mandated that all preferred shares will convert into common shares on closing. Upon completion of this corporate action, GG intends to reduce authorized common shares from 2.0BN to 100MM, and to reduce authorized preferred shares from 450MM to 2.0MM. Fully-diluted shares, pre-financing, will approximate 36.5MM with a free trading float of roughly 2.0MM. Debt outstanding after the recap through conversions and/or repurchase will be nil. With regard to GG's Advisory Board, Kevin Harrington and his consulting firm, KBHJJ, have ceased participation due to their limited time to commit to the Company's advancement. The Company would like to thank Mr. Harrington and KBHJJ for introductions made during their tenure. KBHJJ was not issued any cash or equity for their services. GG is in discussions with a world-renowned inventor and member of the Native American community to join its Advisory Board and invest in the Company. While there are no assurances, GG is excited about this potential appointment who has indicated an interest in introducing the Company to leading tribes across the nation that are looking for a strategic partner in the eSports marketplace. Vik Grover, CEO, said, "We have momentum building in our business, as evidenced by our significant growth in members in the past few weeks. We spent the vast majority of 2016 testing, refining, and improving our platform. We can now confidently say we are the owner and operator of the premiere tournament platform for eSports and the only provider of social networking for amateur gamers worldwide, which now number over 250MM up from 205MM one year ago. It is time to take our business to the next level, not only by crossing the chasm into revenue generation, but by taking our equity to a higher level that will be more attractive to a broader range of investors that require a better exchange than the pink sheets. Our monetization strategy should bear fruit for our loyal investors that have waited over a year for us to punch this ticket into the end zone. As I promised in our original investor call one year ago, we would only pursue this corporate action if it was in the best interests of shareholders. All of the existing angel investors, including myself, who funded the Company in early 2016, will suffer the same impact as common shareholders. Shareholder ownership % of the Company will not change as a result of the reverse split and conversions, and there will be no flood of common shares issued to the Street as many OTC Companies do just to keep the lights on. In fact, we expect our angel round investors to extend their lockup on closing of the recap so there should be no confusion or concern from new and existing investors about what is going on here. Once it is completed, the reverse split and recap will open doors for us to build credibility during discussions with new investors, including strategic parties who may sponsor the site, subsidize tournaments, invest in the Company and/or license our platform for worldwide events. The time has come to take GG to its next chapter and achieve our potential." Good Gaming, Inc. is a leading tournament gaming platform and online destination targeting the over 250 million amateur eSports players worldwide that want to compete at the high school or college level. Register now to join the Good Gaming community and make sure to sign up to all the awesome events, including upcoming tournaments offering amazing prize pools: https://www.good-gaming.com. Statements not historical in nature, are intended, and are hereby identified as, "forward-looking statements." Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect," and similar expressions. The Company cautions readers that forward-looking statements including, without limitation, those relating to future business prospects are subject to risks and uncertainties that could cause actual results to differ materially from projections, estimates or aspirations, due to factors such as those relating to economic, governmental, technological, and any risks and factors identified from time to time in the Company's reports filed with the SEC.


VANCOUVER, British Columbia, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSXV:KALY) (“Kalytera”) will announce the results of a Phase 2a study investigating the safety and efficacy of cannabidiol (“CBD”) for the treatment of acute (Grades 3-4) Graft versus Host Disease (“GvHD”) on Wednesday, February 22, 2017. A conference call and webcast will be held on Thursday, February 23, 2017 at 12:00 PM ET to discuss the study results. The Phase 2a study was conducted by Talent Biotechs, Ltd. (“Talent”), an Israeli-based company evaluating the use of CBD to prevent and treat GvHD, that has been newly acquired by Kalytera. GvHD is a multisystem disorder that is a common, life-threatening complication of hematopoietic stem cell transplant (“HCT”) procedures. HCT is a lifesaving procedure for many diseases of the blood and bone marrow including leukemia, Hodgkin and Non-Hodgkin lymphoma, and multiple myeloma. GvHD occurs when the transplanted donor cells attack the patient’s organs, including the skin, gastrointestinal tract, liver, lungs, and eyes. GvHD is associated with acute and chronic illness, infections, disability, reduced quality of life, and death. The Phase 2a treatment study enrolled ten patients with acute GvHD, including five patients with Grade 3 GvHD and five patients with Grade 4 GvHD. All ten patients were steroid refractory, meaning that they had not responded to previously administered standard of care steroid treatment. Patients were administered daily doses of CBD for up to three months, alongside standard of care therapy. The conference call and webcast will be available for replay on the Kalytera website. About Kalytera Therapeutics Kalytera (TSXV: KALY) is pioneering the development of a next generation of cannabinoid therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of novel cannabinoid medicines for a range of important unmet medical needs, with an initial focus on Graft versus Host Disease (“GvHD”). Kalytera is focused first on developing a new class of proprietary cannabidiol (“CBD”) therapeutics. CBD is a remarkable compound that has shown activity against a number of pharmacological targets. However, there are limitations associated with natural CBD, including its poor oral bioavailability and short half-life. Kalytera is developing innovative CBD formulations and prodrugs in an effort to overcome these limitations, and to target specific disease sites within the body. Kalytera intends to file composition of matter and method of use patents covering its novel inventions, with the goal of limiting future competition. Cautionary Note Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way passed upon the merits of the proposed Transaction and associated transactions and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release. Forward-Looking Statement Disclosure This news release contains “forward-looking information” within the meaning of applicable securities laws, including information relating to the Phase 2a clinical trial. Although Kalytera believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Kalytera can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks of failure of the results of the Phase 2a clinical trial to be consistent with the preliminary results of such trial, that the Phase 2a clinical trial results are not determinative of or consistent with the results of the results of future Phase 2 or other clinical studies, that the small number of patients in the Phase 2a clinical trial may contribute to the risk that future studies may be inconsistent with the results of the Phase 2a clinical trial, and that clinical trials are subject to a number of other health, safety, efficacy and regulatory risks. The statements in this press release are made as of the date of this release. Kalytera undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Kalytera, Talent, their securities, or their respective financial or operating results (as applicable). Kalytera disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.


News Article | February 16, 2017
Site: globenewswire.com

VANCOUVER, British Columbia, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX-V:KALY) (“Kalytera”) announced today that it has successfully completed the previously announced acquisition (the “Acquisition”) of Talent Biotechs Ltd. (“Talent”), strengthening Kalytera’s position as an emerging market leader in cannabidiol (“CBD”) pharmaceuticals. Talent is a privately held, Israeli-based company evaluating the use of CBD to prevent and treat Graft versus Host Disease (“GvHD”). “We feel incredibly fortunate to be continuing Talent’s groundbreaking work in GvHD,” said Andrew Salzman, M.D., Kalytera’s Chief Executive Officer. “There are currently few options to prevent or treat persons with GvHD, a large and critically underserved market. The results of Talent’s Phase 2 clinical studies are unprecedented, and mark a major milestone in the potential prevention and treatment of this severe and life-threatening disease. We are encouraged by the data and seek to rapidly advance the GvHD program into FDA Phase 2b clinical studies.” “This is a transformational transaction for Kalytera,” said Robert Farrell, President, COO, and CFO of Kalytera. “Multiple studies have demonstrated that CBD, a non-psychoactive cannabis constituent, possesses remarkable therapeutic potential across a broad range of diseases and disorders. The acquisition of Talent and its late-stage GvHD program significantly advances Kalytera’s position as an emerging leader in CBD pharmaceuticals. We expect our work in GvHD to be the first of many programs that seek to investigate and commercialize this important compound.” As consideration for the Acquisition, Kalytera will provide a combination of cash, securities, and future contingent payments to Talent. To date, Kalytera has made cash payments to Talent totaling USD$10,000,000. In addition, Kalytera has issued 17,301,208 common shares to Talent, which securities will be subject to a contractual hold period expiring December 30, 2017. Subject to the completion of certain milestones in relation to the development and commercialization of the GvHD program, Kalytera will pay up to USD$20,000,000 in aggregate future contingent payments. Kalytera shall also issue to Talent an additional 2,883,535 common shares upon the completion of the first Phase 2b clinical study, and a further additional 2,883,535 common shares upon the issuance of the first patent by the USPTO or EU with respect to certain assets of Talent acquired in connection with the Acquisition. The shareholders of Talent shall also receive additional earn-out payments equal to 5% of the aggregate annual net sales of all products covered by patent rights included in the business of Talent.  The Acquisition has been conditionally approved by the TSX Venture Exchange, but remains subject to final approval. GvHD is an orphan disease that can arise following hematopoietic stem cell transplantation (“HCT”), a procedure where the stem cells of the bone marrow or peripheral blood of a healthy donor are transplanted into a new host after chemotherapy or radiation. HCT is a lifesaving procedure for many diseases of the blood and bone marrow including leukemia, Hodgkin and Non-Hodgkin lymphoma, multiple myeloma, sickle cell anemia, and thalassemia. There were over 8,000 HCT procedures in the U.S. in 20141 and the use of HCT procedures is expected to continue to increase. While HCT procedures can be lifesaving, they pose many dangerous side effects, including infection and GvHD. GvHD is a multisystem disorder that occurs when the transplanted cells from a donor (“the graft”) recognize the transplant recipient (“the host”) as foreign. This interaction initiates an immune reaction that causes disease in the transplant recipient. This reaction can occur within days after the transplant (acute GvHD) or months to years after HCT (chronic GvHD). GvHD can be mild, moderate, severe, and even life threatening. Patients with acute GvHD may suffer from rashes and blistering of the skin, nausea, vomiting, abdominal cramps accompanied by diarrhea, and jaundice. Generally, acute reactions are more severe and life threatening. GvHD is a major cause of morbidity and mortality following HCT. Researchers estimate that even with intensive prophylaxis with immunosuppressive treatments, 30-50% of patients transplanted from fully matched sibling donors and 50-70% of patients transplanted from unrelated donors will develop some level of GvHD2. The GvHD market was valued at $295M across the six major markets in 2013, and is expected to grow to $544M by 2023, according to the research and consulting firm GlobalData3. Standard of Care: Prevention and Treatment of GvHD The first step in prevention of GvHD is the selection of donor cells that closely match the genetics of the immune system of the transplant recipient, ideally a sibling donor. From there, the patient relies on drugs that have been developed to prevent or treat GvHD. Medicinal prevention of acute GvHD is dependent on immunosuppression of the donor cells, either pharmacologically or through T cell depletion. Common drugs include methotrexate, cyclosporine tacrolimus, sirolimus, mycophenolate mofetil, and ATG. Preventive measures and clinical practices vary by institution4. Treatment of GvHD involves pharmacologic suppression of the graft’s immune cell activation and reestablishment of donor-host immune-tolerance. Most patients are prescribed corticosteroids, which directly suppress the donor’s immune cell attack on host tissue, but also raise the risk of infection and cancer relapse. As with prevention, the optimal drug strategy for GvHD is not well defined. Only 30-50% of patients with moderate to severe GvHD respond to corticosteroids, putting many at risk for fatal outcomes5. Better treatment options are needed to improve the mortality and morbidity outcomes for transplant recipients. CBD is a major component of Cannabis sativa, commonly known as marijuana. CBD possesses potent anti-inflammatory and immunosuppressive properties. Unlike the other major component of cannabis, tetrahydrocannabinol (“THC”), CBD is non-psychoactive and is well tolerated by humans when taken over extended periods of time6. CBD has shown benefit in a number of models of inflammatory diseases including diabetes7, rheumatoid arthritis8, multiple sclerosis9, and inflammatory bowel disease10. In May 2015, Moshe Yeshurun, M.D., Chief Medical Officer of Talent and of the Head of the Bone Marrow Transplantation Department at the Rabin Medical Center in Israel, published the results of a Phase 2a study that followed adult recipients of HCT receiving standard GvHD prophylaxis11. Study participants were provided with daily doses of CBD for the seven days prior to transplantation and for 30 days after HCT. Participants were monitored for an average of 16 months following treatment. Talent researchers compared the trial results to historical data and reported that: Based on these promising results, Talent commenced a second phase 2a trial to evaluate the efficacy of a longer administration of CBD following HCT. As disclosed by Kalytera in its January 18, 2017 press release, in this study, which enrolled 12 patients, participants were provided daily doses of CBD 7 days prior to transplantation and for 100 days following the procedure. With a median follow up of 8.5 months following transplantation, preliminary results show that 85% of the patients did not develop significant (Grades 2-4) acute GvHD, although most of them received bone marrow from unrelated donors, and only 2 patients developed acute GVHD (being 15% of patients), versus the predicted incidence of 50-70% in the scientific literature. Talent has completed additional pilot studies exploring the use of CBD in the treatment of GvHD. Kalytera plans to initiate placebo-controlled, double blind, randomized studies of CBD for both the prevention and treatment of GvHD. These clinical studies may support U.S. Food and Drug Administration (“FDA”) Breakthrough Therapy and Fast Track Designations, which could accelerate the regulatory approval process. About Kalytera Therapeutics Kalytera (TSX-V:KALY) is pioneering the development of a next generation of cannabinoid therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of novel cannabinoid medicines for a range of important unmet medical needs, with an initial focus on Graft versus Host Disease (“GvHD”). Kalytera is focused first on developing a new class of proprietary cannabidiol (“CBD”) therapeutics. CBD is a remarkable compound that has shown activity against a number of pharmacological targets. However, there are limitations associated with natural CBD, including its poor oral bioavailability and short half-life. Kalytera is developing innovative CBD formulations and prodrugs in an effort to overcome these limitations, and to target specific disease sites within the body. Kalytera intends to file composition of matter and method of use patents covering its novel inventions, with the goal of limiting future competition. Cautionary Note Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way passed upon the merits of the proposed Transaction and associated transactions and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release. Forward-Looking Statement Disclosure This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the proposed Transaction including statements regarding the terms and conditions of the proposed Transaction, as well as information relating to Talent. The information about Talent contained in the press release has not been independently verified by Kalytera. Although Kalytera believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Kalytera can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements, depending on, among other things, the risks of failure to obtain final approval of the TSX Venture Exchange, failure of the results of the Phase 2a clinical trial to be consistent with the preliminary results of such trial, that the Phase 2a clinical trial results are not determinative of or consistent with the results of the results of future Phase 2 or other clinical studies, that the small number of patients in the Phase 2a clinical trial may contribute to the risk that future studies may be inconsistent with the results of the Phase 2a clinical trial, and that clinical trials are subject to a number of other health, safety, efficacy and regulatory risks. The statements in this press release are made as of the date of this release. Kalytera undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Kalytera, Talent, their securities, or their respective financial or operating results (as applicable). Kalytera disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. 1 Center for International Blood and Marrow Transplant Research (CIBMTR) HCT Trends and Survival Data 2 Weisdorf D. GVHD the nuts and bolts. Hematology Am Soc Hematol Educ Program. 2007;:62-7. 4 Ruutu T, Van biezen A, Hertenstein B, et al. Prophylaxis and treatment of GVHD after allogeneic haematopoietic SCT: a survey of centre strategies by the European Group for Blood and Marrow Transplantation. Bone Marrow Transplant. 2012;47(11):1459-64. 5 Weisdorf D. GVHD the nuts and bolts. Hematology Am Soc Hematol Educ Program. 2007;:62-7. 7 Weiss L, Zeira M, Reich S, et al. Cannabidiol lowers incidence of diabetes in non-obese diabetic mice. Autoimmunity. 2006;39(2):143-51. 8 Malfait AM, Gallily R, Sumariwalla PF, et al. The nonpsychoactive cannabis constituent cannabidiol is an oral anti-arthritic therapeutic in murine collagen-induced arthritis. Proc Natl Acad Sci USA. 2000;97(17):9561-6. 9 Trojano M. Advances in the management of MS symptoms: real-life evidence. Neurodegener Dis Manag. 2015;5(6 Suppl):19-21. 11 Yeshurun M, Shpilberg O, Herscovici C, et al. Cannabidiol for the Prevention of Graft-versus-Host-Disease after Allogeneic Hematopoietic Cell Transplantation: Results of a Phase II Study. Biol Blood Marrow Transplant. 2015;21(10):1770-5.


“I am pleased to report another excellent set of results in 2016 from Eurofins, with organic growth nearly double our annual objective. In 2016, we made significant progress towards both our financial and operational objectives. With 89% of Group revenues now generating 21.3% EBITDA margin, Eurofins is able to continue investing for future growth such as the roll-out of multiple start-up laboratories in high-growth markets, as well as deliver profit improvements (+50bp expansion in reported EBITDA margin), and earnings expansion (+91% uplift in reported EPS). Operationally, we continue to make steady progress on key initiatives including the addition of 46,000m2 of state-of-the-art laboratory surface in 2016 alone, development and commercialization of many innovative tests to better serve our clients, internal development of tailor-made IT solutions that should further elevate the Eurofins laboratory network ahead of its peers, and the roll-out of over 20 new start-up laboratories in 2016. I would like to thank and compliment our teams in the 39 countries where we operate laboratories around the world for their outstanding dedication and performance in what was once again the best year ever for Eurofins as well as thank our clients and shareholders for their continued support.” In view of the positive developments in our start-up investment program as detailed on page 7 of this press release, the Group has significantly accelerated the current program which commenced in 2014, to open 76 start-up laboratories by the end of 2017. Start-ups complement the Group’s acquisition strategy, and provide a compelling alternative in markets or segments where acquisition prices are too high. Start-up investments therefore allow the Group to enter or reinforce its leadership in high-growth markets without putting value creation at risk by overpaying for acquisitions. In addition, despite investments to strengthen barriers to entry and secure future growth drivers, the Group continues to optimize its capital structure, successfully de-levering the balance sheet to 1.16x net debt to adjusted EBITDA, and deliver strong cash generation, with a 40% increase in free cash flow to the firm8 in 2016. Therefore, whilst the strong growth outlook of the existing businesses allows the Group to be selective to ensure that we maintain financial discipline with regards to acquisitions, our strong balance sheet means that Eurofins is better-positioned than ever to respond to large, compelling opportunities as and when they arise. Overall, the Group’s performance in the first of its 5-year plan bodes well for the achievement of our mid-term objectives. In light of these results and the continued positive outlook for the Group, the management will be proposing a 38% increase in dividends to EUR 2 per share. N.B. H2 2016 results can be found in Table 3 on page 8 of this press release Revenues grew 16.0% to EUR 699.3m in the fourth quarter, bringing revenues for the full year 2016 to EUR 2,536.6m, representing year-on-year increase of 30.1%, of which over 9% was organic. Acceleration in market share gains in most geographies, increased customer penetration, as well as continued growth in the testing market underpin the robust growth across the Group. Currency translation had a limited impact of -0.3% during the year. Taking the annualized revenues of all the acquisitions completed during the year, 2016 pro-forma revenues were EUR 2,658.6m. In Q3 and Q4 2016, Eurofins once again exceeded its 5% organic growth objective despite very strong comparable level of almost 9% in H2 2015, and clinical testing bearing most of the annual impact of cost containment measures by payors in Q4. The stronger organic growth generated by the Group compared to its 5% annual growth objective continues to be driven by a ramp-up in volumes, and supported by continued strength in the underlying trends across many of its businesses. During the year, Eurofins’ food testing business once again outperformed the Group’s organic growth objective, driven by rising awareness among consumers and across the food industry of the need for more systematic testingi, and the Group’s capability to often respond to the industry’s needs better than any other laboratory testing service provider. Strong performance from some of the Group’s environment testing businesses, notably air and water testing in France and Germany, partially offset some of the impact of slower economic activity in the rest of Europe, as well as the continued weakness in the US environment testing market. Although organic growth in environment testing for 2016 was lower than the Group average, the business is well-positioned for growth due to the scale of its network. Organic growth generated by the Group’s pharmaceutical testing business remained well above the Group’s 5% objective in 2016, on the back of further growth acceleration in pharmaceutical products testing, and as the Group unwinds and starts to see the benefits of the reorganization of its discovery services business, as well as the steady build-up of the order book in the central laboratory business. In the broader industry, the steady number of applications for FDA approvalsii, and strong growth in drug salesiii, are supportive of the underlying fundamentals for the pharma testing business in the medium term. The Group’s clinical testing business continues to gain traction, following several acquisitions in the US and in Europe. Innovation continues to be a solid growth driver in US clinical testing, while in Europe, the Group continues to roll-out its strategic footprint. In both markets, Eurofins continues to leverage its expertise in genomics, and more broadly in pharmaceutical testing. Positive trends continue to drive the growth in Eurofins’ businesses in North America, where revenues increased 24.9% to EUR 803.6m, comprising nearly 32% of total Group revenues. Regulatory catch-up remains a key growth driver for the food testing market, and Eurofins continues to gain market share, as reflected in the high single-digit organic growth generated by the Group’s US food testing business. Eurofins’ pharma testing businesses in the US delivered another solid performance in 2016, with strong organic growth in biopharma products testing driven by continued growth in drug sales and new drug applications, as well as strengthening central lab order book. The completion of the site reorganization programme in its discovery services business has also started to bear fruit, as reflected in the organic growth generated by the business in 2016 which was above Group objective. In addition, Eurofins has further expanded its footprint with the launch of medical device testing to add to its comprehensive pharma testing competencies, reinforce its market leadership, and secure additional growth driver. Organic growth in environment testing was somewhat below Group objective as market consolidation continues to be the main driver, which should purge oversupply in the market in due course. The Group’s specialty clinical diagnostics businesses contributed good organic growth in spite of strengthening reimbursement headwinds in H2 as the laboratories expand their sales forces to accelerate the commercialization of their tests and invest in further development of new innovative tests and services. Overall, trends are expected to continue to be supportive of Eurofins’ businesses in North America and the Group continues to invest in expanding its footprint in the region. In France, Eurofins’ second largest market with nearly 25% of total Group sales, revenues increased 69.3% to EUR 625.9m. Organic growth was in-line with Group objective as the clinical testing businesses, which account for over half of revenues in France, generated better than expected growth despite the annual adjustments in reimbursements being fully applied in Q4, according to the French health authority budget. The food testing business performed strongly during the year on continued market share gains supported by capacity expansion driven by innovation, such as the launch of the Maldi-TOFiv technology which significantly reduces turn-around time and increases capacity for microbiology testing. In addition, Eurofins continues to leverage its international network to become the preferred laboratory partner for clients with equally wide footprint. For example, the Group’s flagship food laboratory in Nantes gained the German QS accreditation to test for pesticides in fruits and vegetables, allowing Eurofins to partner with customers whose products are shipped in markets requiring such certification. Likewise, the selection of Eurofins by the ANEEFELv as one of a handful of reference laboratories in France to serve the fruit and vegetable industry gives access to an important market, and is another demonstration of the Group’s capabilities. The Group’s environment testing business in France also generated organic growth above Group objective driven by market share gains and positive trends especially in indoor air testing. The water testing business also delivered solid performance on the back of recently-won public tenders (“Agence de l’Eau Seine Normandie” and “Agence de l’Eau Loire Bretagne”) as well as increased volumes from existing customers. The clinical diagnostics testing business also generated better than expected growth, validating the Group’s strategy of building a differentiated platform focused on building regional leadership and leading the market for specialized, highly-innovative diagnostic tests. Revenue contribution from Germany, which makes up 11% of Group revenues, was EUR 279.4m in 2016, representing growth of 11.6%, most of which was organic. The food testing business continues to strengthen, generating the highest revenue growth in five years, with growing scale effect reflected in higher activities from cross-selling initiatives, as well as higher share of incremental market volumes driven by new regulations such as those addressing potential contaminants from packaging materialsvi. Increasingly harmonised service offering from different Eurofins laboratories was reflected in greater penetration and higher volumes from key global food customers. The Group’s environment testing business in Germany also delivered strong performance reflecting continued growth even in a mature market. The Group’s businesses in the Benelux achieved revenues of EUR 191.2m, representing 7.5% of total Group revenues, and an increase of 20.9% compared to 2015, driven by new businesses won such as the new contract for groundwater analysis in Belgium. Eurofins’ Nordic businesses generated EUR 172.4m of revenues in 2016, making up nearly 7% of total sales. The Group continues to generate robust growth despite high market share across the region as it benefits from past investments which strengthened its ability to continually expand the services it can provide to clients, resulting in increased share of clients’ testing spend. Revenues from the UK & Ireland grew 26.8% to EUR 122.0m, as the strong performance from the pharmaceutical testing business offset the exit from some water testing segments. Eurofins continues to expand its footprint in emerging markets and Asia Pacific, which contributed revenues of EUR 342.1m, an increase of 27.1% versus 2015, as the Group continued to expand its Asian footprint both organically and through acquisitions. Overall, the Group delivered strong performance across its businesses in 2016, supported both by positive underlying trends, and the benefits of past investments to build the best laboratory network infrastructure in its markets to serve the needs of its clients. The strong results achieved by Eurofins in most of its markets reflect the progress that the Group is making in securing leadership and strengthening its footprint in each of its areas of competence. Group adjusted EBITDA increased 32.9% to EUR 479.6m in 2016 as margin expanded by 40bp to 18.9% driven by the strong revenue growth and profitability improvements in both the mature businesses and those that had been recently transferred out of the start-up/businesses in reorganization perimeter. The mature businesses of the Group, i.e. excluding start-ups and acquisitions in significant restructuring, generated EUR 2,254.3m of revenues during the period, implying that the margin for these businesses further expanded to 21.3%. Start-ups and businesses in restructuring or reorganization generated the remaining EUR 282.3m of revenues, which means that these businesses now account for 11.1% of total Group revenues, compared to 12.5% in 2015. Start-up losses and restructuring costs as disclosed in the separately disclosed items2 (SDI) were EUR 18.5m in 2016, representing 3.9% of the total EBITDA generated by the mature businesses of the Group, a further reduction compared to the 4.4% level in 2015 despite the acceleration in the Group’s start-up investments and the finalization of some of the reorganization of its discovery services business in the US, the site consolidation programs in the UK and Benelux, and the relocation of its US genomics business to Louisville, KY. Even with multiple investments for future growth that are temporarily dilutive, reported EBITDA margin still expanded by 50bp to 18.2% as reported EBITDA increased by 33.6% to EUR 461.1m due to strong top line growth and economies of scale, allowing continued profit expansion in the Group’s mature businesses. Adjusted EBITAS increased 35.3% to EUR 357.6m despite the 27.6% year-on-year increase in depreciation and amortization, due largely to the elevated capital expenditures in recent years. The strong growth in profitability resulted in a 36.5% growth in reported EBITAS to EUR 319.4m as EBITAS margin expanded by 60bp to 12.6% during the year. Non-cash stock option charge and net acquisition-related expenses grew only modestly by 4.3% resulting in a growth of 42.3% in reported EBIT for the Group to EUR 281.9m. Finance costs in 2016 were EUR 70.8m, remaining stable at 2.8% of total revenuesvii, despite the cost of carrying more than EUR 820m of unused cash on the balance sheet at year-end and a similar amount throughout 2016. Adjusted Financial Result remained stable at -1.9% of Revenues. The income tax expense has decreased by more than 500bps to 26.8% of the profit before income taxesviii. This is the result of some exceptional finance income and the measures put in place by management to achieve an optimum tax structure, including the recognition of deferred tax assets where applicable. Adjusted net profit stood at EUR 221.6m for 2016. Due to the strong revenue growth and profit improvement, and with finance costs stable relative to revenues, reported net profit nearly doubled to EUR 174.0m during the year, translating to a 90.6% uplift in the Group’s basic earnings per share (EPS), which exceeded EUR 10 for the first time, at EUR 10.88. The 83.3% increase in pre-tax profit to EUR 242.6m, in addition to the successful management of net working capital to 3.7% of sales at the end of December 2016 (versus 5.1% in June, and against 5% NWC/Sales annual objective), resulted in a 27.7% increase in operating cash flow for the Group, to EUR 371.8m in 2016. Capital expenditures for 2016 were EUR 194.1m. Although the absolute amount represents an 18.5% increase from the previous year, capex/sales declined by 70bp to 7.7%, compared to 8.4% in 2015, demonstrating progress towards management’s commitment to its objective of managing capital expenditures program progressively closer to 6% of sales by 2020. Capital expenditures during the year were, among others, related to 46,000m2 of additional state-of-the-art lab surface, the launch of 22 new start-up laboratories during the year, as well as continued development and deployment of the Group’s new generation of IT solutions. The Group’s capital spending is consistent with its commitment to strengthening its long-term competitive advantage by building a state-of-the-art laboratory network and bespoke IT solutions. Eurofins generated robust cash flows in 2016, with free cash flow to the firm growing 39.5% to EUR 177.7m as strong revenue and profit growth offset the increase in capex. Likewise, free cash flow to equity increased 26.1% to EUR 125.9m despite the increase in interest payments due to higher gross debt, and penalties for early repayment of the EUR 170m Schuldschein loan (of which the amount due in July 2018 was paid two years early in July 2016) and the remaining EUR 116m OBSAAR bonds (of which the amount due in June 2017 was paid 6 months early in December 2016). At the end of December 2016, the Group’s leverage ratio stood at 1.16x net debt/adjusted EBITDA, well below the 3.5x limit, as net debt was reduced to EUR 557.8m, compared to EUR 916.3m in December 2015. The significant reduction was due to the higher cash generation, as well as the successful issuance of new shares in June and in September 2016, which raised total proceeds of EUR 496m. In 2016, Eurofins completed 27 acquisitions that either strengthen Eurofins’ leadership in existing markets, or further develop the Group’s expanding footprint in its newer markets, such as in clinical diagnostics testing, or in Asia Pacific. Some of Eurofins’ acquisitions during the year are discussed below. In January, Eurofins acquired Sinensis Life Sciences, a leading provider of pharmaceutical product testing and cGMP Quality Control (QC) services in the Netherlands, further reinforcing the Group’s global leadership in this area of pharmaceutical products testing. In the same month, Eurofins also acquired Biotech-Germande SAS, one of the leading players in the environmental clinical testing and hospital hygiene market, as well as in medical device evaluation in France. Biotech-Germande complements Eurofins' growing footprint in the testing market for the healthcare sector in France. In March, Eurofins further strengthened its pharmaceutical products testing footprint with the acquisition of ams Laboratories and Advantar, two leading independent analytical and cGMP Quality Control (QC) service providers in Australia, and the US West Coast respectively. In April, Eurofins acquired PerkinElmer, Inc.’s U.S. prenatal screening laboratory services business PerkinElmer Labs/NTD, a reference laboratory in the US for first and second trimester prenatal screening. The acquisition strengthens Eurofins’ growing footprint in the genetics segment of the specialty clinical diagnostic testing market. Eurofins completed the acquisition of EAC Corporation from Asahi Industries in Japan in May. EAC should reinforce the Group’s local footprint as well as its platform to further deploy the Group’s analytical expertise especially in water and dioxin testing. As part of the acquisition, Asahi and Eurofins entered into an exclusive service contract for a period of 3 years. At the end of May, Eurofins strengthened its leadership in the French food testing market with the acquisition of Agro-Analyses SAS, one of the leading analytical service providers supporting the food retail and catering sectors in France. In June, Eurofins acquired Bureau de Wit BV, one of the main laboratory service providers focused on food and water safety testing for the food production, hotel and catering sectors in The Netherlands. In July, the Group successfully closed the acquisition of Exova’s food, water and pharmaceutical testing business in the UK & Ireland, reinforcing Eurofins’ existing footprint as well as expanding client reach in the UK and Ireland. In September, Eurofins strengthened its footprint in the specialty clinical diagnostics market with the acquisition of VRL Laboratories, one of the leading laboratories in pre-transplant testing for the eligibility determination for Donors of Human Cells, Tissues, and Cellular and Tissue-Based Products (HCT/Ps) in the US. In the same month, Eurofins further reinforced its clinical diagnostics footprint in Europe with the acquisition of Megalab, one of the top five clinical diagnostic laboratory groups in Spain. Towards the end of the year, the Group further expanded its presence in North America with the acquisition of Exova’s environment testing business in Eastern Canada, and in Latin America with the acquisition of ASL Análises Ambientais, one of the leading environment testing service providers in Brazil. Total acquisition spend in 2016 was EUR 201mix for total annualized revenues in excess of EUR 220m. Including earn-outs for these newly acquired companies, this translates into an EV/sales multiple of ca 1x for the year 2016, which remains very reasonable and in line with our historical metrics. Eurofins delivered 46,000m2 of the 106,000m2 of laboratory surface planned to come on stream by the end of 2017 as part of its ongoing investment program to build the largest and most efficient state-of-the-art laboratory network in its industry. Between 2005 and 2016, Eurofins has added or brought to the most modern standards over 380,000m2 of laboratory space. In-line with the positive outlook in the US domestic testing market, the Group is further expanding its laboratory campus in Lancaster, already the largest independent single-site laboratory in the world, with a planned 17,200m2 extension to be completed by the end of 2018, of which 1,600m2 is expected to come on stream by the end of this year. Boston Heart Diagnostics (BHD) has also completed the extension of its testing facilities in Framingham, MA, which has increased its laboratory surface by over 40% to 9,300m2. In Asia Pacific, the Group is on track to complete the expansion of its main Chinese food testing laboratory in Suzhou, as well as the construction of new food testing laboratories in Australia and Singapore by the end of 2017. These projects follow the completion of the Group’s new laboratories in Hong Kong and India, as well as the multiple site upgrade and expansion projects in Australia and New Zealand in 2015. In addition to infrastructure expansion, the Group is also undertaking several site rationalization projects with part or full site upgrades, consolidating several small sites into fewer but larger industrialized sites, or simply moving some businesses into our large campuses to maximize synergies and optimize efficiencies across our businesses. The move to consolidate several small sites to a large campus in Hamburg is expected to be completed by 2019, as are the site consolidation programs in Benelux and Sweden. Encouraged by the strong performance from its start-up laboratories, with the newly-opened laboratories from the latest start-up program (launched in 2014) generating 101% revenue growth in 2016, and the 18 laboratories from the previous program (launched in 2010) generating 22% revenue growth and 19% EBITDA margin in 2016, the Group has accelerated its current start-ups program. Between 2014 and the end of 2017, Eurofins plans to open 76 green-field laboratories (from the original 35 announced in 2015), which would mean an average of 20 start-ups launched per year during that period. This would take total start-ups launched by the Group to 110 laboratories between 2007 and 2017. 1 Adjusted – reflects the ongoing performance of the mature and recurring activities excluding “separately disclosed items”. 2 Separately disclosed items - includes one-off costs from integration, reorganisation, discontinued operations and other non-recurring income and costs, temporary losses and other costs related to network expansion, start-ups and new acquisitions undergoing significant restructuring, non-cash accounting charges for stock options and free shares, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, discontinued activities and transaction costs related to acquisitions as well as income from reversal of such costs and from unused amounts due for business acquisitions, net finance costs related to borrowing and investing excess cash and one-off financial effects and the related tax effects. (Details in Note 2.3 of the 2016 Consolidated Financial Statements). 3 EBITDA – Earnings before interest, taxes, depreciation and amortisation, non-cash accounting charges for stock options and free shares, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, discontinued activities and transaction costs related to acquisitions as well as income from unused amounts due for business acquisitions. 4 EBITAS – Earnings before interest, taxes, non-cash accounting charges for stock options and free shares, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, discontinued activities and transaction costs related to acquisitions as well as income from unused amounts due for business acquisitions. 5 Net Profit – Net profit for equity holders after non-controlling interests but before payment to Hybrid capital holders 6 Basic EPS – earnings per share (basic) total (to equity holders before payment of dividends to Hybrid capital holders) 7 Operating Cash Flow – Net cash provided by operating activities (after tax) 8 Free Cash Flow to the Firm –Operating Cash Flow, less Net capex 9 Organic growth for a given period (Q1, Q2, Q3, Half Year, Nine Months or Full Year) - non-IFRS measure calculating the growth in revenues during that period between 2 successive years for the same scope of businesses using the same exchange rates but excluding discontinued activities. For the purpose of organic growth calculation for year Y, the relevant scope used is the scope of businesses that have been consolidated in the Group's income statement of the previous financial year (Y-1). Revenue contribution from companies acquired in the course of Y-1 but not consolidated for the full year are adjusted as if they had been consolidated as from 1st January Y-1. All revenues from businesses acquired since 1st January Y are excluded from the calculation. For details of the FY 2016 results, including consolidated financial statements and related notes, please visit: http://www.eurofins.com/investor-relations/reports-presentations/ Eurofins Scientific through its subsidiaries (hereinafter sometimes “Eurofins” or “the Group”) believes it is the world leader in food, environment and pharmaceutical products testing and that it is also one of the global independent market leaders in certain testing and laboratory services for agroscience, genomics, discovery pharmacology and for supporting clinical studies. In addition, Eurofins is one of the key emerging players in specialty clinical diagnostic testing in Europe and the USA. With over 27,000 staff in 310 laboratories across 39 countries, Eurofins offers a portfolio of over 130,000 analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products, as well as for innovative clinical diagnostic. The Group objective is to provide its customers with high-quality services, accurate results on time and expert advice by its highly qualified staff. Eurofins is committed to pursuing its dynamic growth strategy by expanding both its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions and the most comprehensive range of testing methods. As one of the most innovative and quality oriented international players in its industry, Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the expanding demands of regulatory authorities around the world. The shares of Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP). This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgement of Eurofins Scientific’ management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantee can be made as to their validity. Eurofins provides in the Income Statement certain alternative performance measures (non-IFRS information such as “Adjusted Results and Separately Disclosed Items”) that exclude certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. (Refer to description of Separately Disclosed Items). In addition, Eurofins shows the following two earnings measures in the Income Statement with the objective to be close and consistent with the information used in internal Group reporting to measure the performance of Group companies and information published by other companies in the sector: EBITDA: Earnings before interest, taxes, depreciation and amortisation, non-cash accounting charges for stock options and free shares, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, discontinued activities and transaction costs related to acquisitions as well as income from unused amounts due for business acquisitions” EBITAS: Earnings before interest, taxes, non-cash accounting charges for stock options and free shares, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, discontinued activities and transaction costs related to acquisitions as well as income from unused amounts due for business acquisitions” Organic growth for a given period (Q1, Q2, Q3, Half Year, Nine Months or Full Year) - non-IFRS measure calculating the growth in revenues during that period between 2 successive years for the same scope of businesses using the same exchange rates but excluding discontinued operations. For the purpose of organic growth calculation for year Y, the relevant scope used is the scope of businesses that have been consolidated in the Group's income statement of the previous financial year (Y-1). Revenue contribution from companies acquired in the course of Y-1 but not consolidated for the full year are adjusted as if they had been consolidated as from 1st January Y-1. All revenues from businesses acquired since 1st January Y are excluded from the calculation. Management believes that providing these alternative performance measures enhances investors' understanding of the company’s core operating results and future prospects, consistent with how management measures and forecasts the company’s performance, especially when comparing such results to previous periods or forecasts and to the performance of our competitors. This information should be considered in addition to, but not in lieu of, information prepared in accordance with IFRS. i https://ec.europa.eu/food/sites/food/files/safety/docs/rasff_annual_report_2015.pdf ii http://www.fda.gov/downloads/Drugs/DevelopmentApprovalProcess/DrugInnovation/UCM536693.pdf iii http://www.fiercepharma.com/sales-and-marketing/drug-sales-expected-to-top-1-3t-2018?utm_medium=nl&utm_source=internal iv Matrix Assisted Laser Desorption Ionization Time-of-Flight v Association Nationale des Expéditeurs et Exportateurs de Fruits et Légumes vi Regulation of mineral oil saturated hydrocarbons (MOSH) and mineral oil aromatic hydrocarbons (MOAH) http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//TEXT+MOTION+B8-2016-0411+0+DOC+XML+V0//EN ; Legislation on Polycyclic Aromatic Hydrocarbons (PAHs) https://ec.europa.eu/jrc/en/eurl/pahs/legislation vii Compared to 2015 level adjusted for the impact of derivative financial instruments ix including earn-out payments on acquisitions completed in previous years


News Article | March 2, 2017
Site: globenewswire.com

SAN FRANCISCO, March 02, 2017 (GLOBE NEWSWIRE) -- Hybrid Coating Technologies Inc. (OTC Pink:HCTI) is pleased to announce that it has received a follow on order for its non-isocyanate binder from PPG-Comex for its erasable coating product. “We are very pleased to receive this follow on order as we continue to increase our presence in the Mexican market,” said Joseph Kristul President and CEO, “This demonstrates the market’s interest in our technology as we continue to penetrate different segments of the market across multiple geographic territories.” This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Hybrid Coating Technologies Inc. to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. Hybrid Coating Technologies Inc undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Hybrid Coating Technologies Inc. expectations. About Hybrid Coating Technologies Hybrid Coating Technologies (HCT) is a San Francisco-based innovator focused on improving the quality and safety of foams, coatings, and adhesives for industrial and commercial customers around the world. We are the exclusive licensee of Green Polyurethane™ foam, coatings, and adhesives – the world’s first-ever patent protected polyurethane-based foam, coatings, and adhesive products that eliminate toxic isocyanates from the entire production process (licensed by Nanotech Industries, Inc.) and the 2015 recipient of the Presidential Green Chemistry Award. The Problem of Conventional Foams/Coatings/Paint and Isocyanates Conventional polyurethane (PU) paint and coatings have many disadvantages: they are porous, permeable and maintain poor hydrolytic stability. This makes the material highly vulnerable to environmental degradation and ultimately leads to their chemical decomposition, especially when in contact with water. Conventional PU foams such as spray foam insulation are applied via a spraying mechanism that sends toxic isocyanates in the air – exposing workers to the dangers of toxic isocyanates. Strict and costly health & safety measures have to be implemented in the manufacture and application of conventional polyurethane due to the toxicity of isocyanates. This is why regulatory bodies around the world are now looking toward phasing out the use of isocyanates. The Green Polyurethane™ Solution Green Polyurethane™ (also referred to as “HNIPU” - hybrid non-isocyanate polyurethane) is a “hybrid” material that combines the high chemical resistance properties of epoxy and advanced durability and wear resistance properties of polyurethane, making it the perfect coating application for sanitary, high traffic and corrosive surface areas. As a hybrid material with superior properties, Green Polyurethane ™ can be applied in one or two coatings, providing a welcome cost-saving substitute to currently used multi-layered coating applications. Its safety features allow it to be applied without the interruption of business due to public exposure, creating an additional 30-60% savings on application costs for customers. As a foam, Green Polyurethane™ provides high R values up to 6.0, energy savings up to 30% and improved tensile strength over conventional foam without using dangerous isocyanates. Recent Anti-Isocyanate Regulatory Pressure US EPA MDI Action Plan: The US EPA (Environmental Protection Agency) is taking progressive action to regulate and potentially ban isocyanates and has mentioned Hybrid’s technology as an alternative to toxic polyurethane in its MDI Action Plan against isocyanates (see page 4 Figovsky and Shapovalov).  http://www.epa.gov/sites/production/files/2015-09/documents/tdi.pdf OSHA National Emphasis Program: On June 25, 2013 the Occupational Safety and Health Administration (OSHA), a division of the US Department of Labor, initiated a National Emphasis Program to protect workers from the serious health effects from occupational exposure to isocyanates.  Isocyanates are found in polyurethane based products. According to OSHA, "Workers exposed to isocyanates can suffer debilitating health problems for months or even years after exposure which could result in death." California’s Department of Toxic Substances Control (DTSC) on March 13, 2014 selected isocyanates and two others substances from a list of 1,100 toxic components that it will focus on with the goal of potentially banning them altogether within the next two years. The announcement is part of a bigger effort to educate consumers and manufacturers about product safety under the Green-Chemistry Law, which went into effect in California last year. Under the law, the agency has jurisdiction to ban these products altogether after following proper protocol. That process includes workshops, a public comment period and requiring manufacturers that want to sell these products in California to determine whether it would be feasible to use safer ingredients. The US EPA on January 8, 2015 announced that it was taking action to protect consumers from new uses and imports of harmful isocyanates in polyurethane. The EPA’s proposed action, a Significant New Use Rule (SNUR) under the Toxic Substances Control Act (TSCA), would require manufacturers (including importers) to notify the EPA at least 90 days before starting or resuming new uses of isocyanates in polyurethane based consumer products. The EPA would then have the opportunity to evaluate the intended use of and if necessary, to take action to prohibit or limit all products containing over one tenth of one percent of the chemical including imported products that make their way into the United States.


News Article | March 2, 2017
Site: globenewswire.com

- Conference Call at 8:30 a.m. ET Today - DURHAM, N.C., March 02, 2017 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company developing novel antivirals to address unmet medical needs, today reported financial results and provided a corporate update for the fourth quarter and full year ended December 31, 2016. “Today we are pleased to report the positive outcome from the third cohort of our Single Ascending Dose study of intravenous brincidofovir, which demonstrated continued safety and tolerability at higher doses and further supports brincidofovir’s potential as a potent broad spectrum antiviral,” said Garrett Nichols, MD, MS, Chief Medical Officer of Chimerix. “During 2016 we made considerable progress developing the optimal paths forward for oral brincidofovir for short course treatment and advancing intravenous brincidofovir into the clinic.  These developments have positioned the Company well to achieve a number of milestones throughout 2017 that we believe will be instrumental in advancing brincidofovir in order to benefit patients fighting these serious viral infections,” concluded Michelle Berrey, MD, MPH, President and Chief Executive Officer. The ability to provide brincidofovir (BCV) in oral and intravenous (IV) formulations enables development across multiple indications and populations with the potential for best-in-class efficacy and safety.  In 28-day animal studies and in single dose administration in healthy subjects, IV BCV has shown the potential for less gastrointestinal (GI) injury compared to oral BCV, even with higher plasma drug concentrations and longer-term dosing.  Additionally, data from animal efficacy studies and AdVise support the continued development of oral BCV for short course treatment of smallpox and adenovirus (AdV). Reported Preliminary Data from Ongoing Phase 1 Dose Escalation Study of IV BCV in Healthy Subjects In this Phase 1 study, a total of 40 healthy subjects have been randomized to receive either a single dose of IV BCV or IV placebo in one of four cohorts: In January 2017, Chimerix announced preliminary data from the first two cohorts of this ongoing Phase 1 study. Today, Chimerix announces preliminary results from the third cohort (IV BCV 50 mg given over 2 hours) of this study. In this ongoing blinded study, a favorable safety and tolerability profile has been observed in all three cohorts completed to date.  Grade 1-2 (on a scale of Grade 1-5) safety laboratory changes were observed in some subjects in the first three dosing cohorts; none were considered clinically significant. No Grade 3 or higher safety laboratory abnormalities were observed for any subjects receiving IV study drug in Cohorts 1, 2 and 3.  In Cohort 3, IV BCV 50 mg or placebo, mild Adverse Events (AEs) were reported that possibly were related to study drug included: a single lower gastrointestinal event of loose stools was reported in one subject, and two other subjects each reported a mild headache that spontaneously resolved. In addition, three subjects had bruising at the site of the IV catheter. IV BCV 50 mg provided plasma drug exposures higher than achieved with oral BCV dosing, and in the range of exposures targeted for treatment indications such as for BK nephropathy. Cohort 4 will explore IV BCV 50 mg or placebo over a longer period of infusion.  Complete clinical and pharmacokinetic data from all four cohorts are expected to be reported during the first half of 2017. On February 23, final data from the AdVise trial of BCV for the treatment of AdV infection in allogeneic hematopoietic cell transplant (HCT) recipients was presented at the combined annual meetings of the Center for International Blood & Marrow Transplant Research (CIBMTR) and the American Society for Blood and Marrow Transplantation (ASBMT) held February 22-26, 2017 in Orlando, FL. The AdVise trial was an open-label, multicenter study designed to evaluate the efficacy, safety and overall tolerability of oral BCV for the treatment of AdV infection. Pediatric and adult subjects were assigned to one of three cohorts: All subjects were to receive 12 weeks of oral BCV and were followed for at least 36 weeks.  This final analysis includes 158 allogeneic HCT recipients assigned to Cohorts A (23 adult and 42 pediatric patients) and B (35 adult and 58 pediatric patients). In the AdVise trial, declines in AdV viral load of ≥2 log c/mL or below the limit of detection at week four were observed in 76 percent of pediatric patients and 45 percent of adult patients.  Notably, this antiviral effect was observed even in HCT recipients who did not yet have immune recovery. In Cohort A, 55 percent of patients with baseline low immunity (CD4 counts <50 cells/μL) achieved ≥2 log c/mL decline or undetectable AdV at week four. In Cohort B, 52 percent of patients with baseline low immunity achieved ≥2 log c/mL decline or undetectable AdV over the same period of time. In patients with disseminated disease, rapid virologic response, defined as undetectable AdV viremia at week six, was associated with nearly double the survival rate and lower AdV-associated mortality compared with subjects who did not have an antiviral response, as summarized in the table below. * Responders defined as subjects with baseline AdV viremia still on study at week six who had undetectable plasma AdV at week six; non-responders defined as subjects who did not achieve the specified cut-off. A Cox model was used to compare mortality at 36 weeks in responders and non-responders. Diarrhea was the most commonly reported treatment-emergent adverse event in AdVise Cohorts A and B, reported at 38 percent of adult and 43 percent of pediatric HCT recipients. Treatment discontinuations related to diarrhea in Cohorts A and B occurred in 5 percent of adult and 6 percent of pediatric patients. Chimerix reported a net loss of $15.0 million, or $0.32 per basic and diluted share, for the fourth quarter of 2016. During the same period in 2015, Chimerix recorded a net loss of $37.8 million, or $0.82 per basic and diluted share. Revenues for the fourth quarter of 2016 decreased to $2.0 million, compared to $3.1 million for the same period in 2015. Research and development expenses were $11.7 million for the fourth quarter of 2016, and $31.8 million for the same period in 2015. General and administrative expenses decreased to $5.6 million for the fourth quarter of 2016, compared to $9.5 million for the same period in 2015. Loss from operations was $15.4 million for the fourth quarter of 2016, compared to a loss from operations of $38.2 million for the same period in 2015. Interest income was $416,000 in the fourth quarter of 2016, compared to interest income of $381,000 in the same period in 2015. Chimerix's balance sheet as of December 31, 2016, included $278.1 million of capital available to fund operations, no debt and approximately 46.5 million outstanding shares of common stock. Chimerix reported a net loss of $76.4 million, or $1.65 per basic and diluted share, for the year ended December 31, 2016. For the year ended December 31, 2015, Chimerix recorded net loss of $117.4 million, or $2.67 per basic and diluted share. Research and development expenses were $58.6 million for the year ended December 31, 2016, compared to $97.7 million for the year ended December 31, 2015. General and administrative expenses decreased to $25.0 million for the year ended December 31, 2016, compared to $31.3 million for the year ended December 31, 2015. Loss from operations was $78.0 million for the year ended December 31, 2016, compared to a loss from operations of $118.3 million for the year ended December 31, 2015. Net interest income was $1.6 million for the year ended December 31, 2016, compared to net interest income of $0.9 million for the year ended December 31, 2015. Today's Conference Call and Webcast Chimerix will host a conference call and live webcast to discuss its fourth quarter and full year 2016 financial results and provide a business update today at 8:30 a.m. ET. To access the live conference call, please dial 877-354-4056 (domestic) or 678-809-1043 (international) at least five minutes prior to the start time and refer to conference ID 97022450. A live audio webcast of the call and accompanying slides will also be available on the Investors section of Chimerix's website, www.chimerix.com. An archived webcast will be available on the Chimerix website approximately two hours after the event. About Chimerix Chimerix is a biopharmaceutical company dedicated to discovering and developing medicines that improve outcomes for immunocompromised patients. Chimerix's proprietary lipid conjugate technology has produced brincidofovir (BCV, CMX001); CMX157, which was licensed to ContraVir Pharmaceuticals; and earlier-stage compounds. Chimerix recently announced a new clinical candidate, CMX521, for the treatment and/or prevention of norovirus. For further information, please visit Chimerix's website, www.chimerix.com. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the possibility that brincidofovir may not continue to show positive safety and tolerability at higher doses, that Chimerix may not be able to achieve milestones in 2017 to advance the development of brincidofovir, that there may not be a viable continued development path for brincidofovir, that FDA and other regulatory authorities may not approve brincidofovir or brincidofovir-based regimens, and that marketing approvals, if granted, may have significant limitations on their use. As a result, brincidofovir may never be successfully commercialized. In addition, Chimerix may be unable to file for regulatory approval for brincidofovir with other regulatory authorities. These risks, uncertainties and other factors could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Risks are described more fully in the Company's filings with the Securities and Exchange Commission, including without limitation the Company's most recent Annual Report on Form 10-K and other documents subsequently filed with or furnished to the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.


News Article | February 22, 2017
Site: globenewswire.com

-- Results show higher survival rate in adenovirus-infected patients with a virologic response to brincidofovir --  -- Mortality rates were lower in pediatric patients than in adult patients -- DURHAM, N.C., Feb. 22, 2017 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX) today announced the presentation of final data from the AdVise trial of brincidofovir for the treatment of adenovirus (AdV) infection in allogeneic hematopoietic cell transplant (HCT) recipients at the BMT Tandem Meetings held February 22-26, 2017 in Orlando, FL. “The final data highlight the clinical benefit of the early antiviral effect of brincidofovir on adenovirus,” said Dr. Vinod K. Prasad, Professor of Pediatrics, Duke University School of Medicine, and an investigator in the AdVise trial. “Rapid declines in adenovirus viral load were observed over the first four weeks of treatment, even in patients whose immune systems had not yet recovered. Importantly, patients who had a virologic response to brincidofovir showed higher survival, as did those who were treated earlier in the disease course. Adenovirus infection is a serious problem in HCT patients and this study showed encouraging results, particularly in children.” The AdVise trial was an open-label, multicenter study designed to evaluate the efficacy, safety and overall tolerability of oral brincidofovir for the treatment of adenovirus infection. Pediatric and adult subjects were assigned to one of three cohorts: All subjects were to receive 12 weeks of oral brincidofovir and were followed for at least 36 weeks. This final analysis includes 158 allogeneic HCT recipients assigned to Cohorts A (23 adult and 42 pediatric patients) and B (35 adult and 58 pediatric patients). In the AdVise trial, declines in AdV viral load of ≥2 log c/mL or below the limit of detection at Week 4 were observed in 76 percent of pediatric patients and 45 percent of adult patients. Notably, this antiviral effect was observed even in HCT recipients who did not yet have immune recovery. In Cohort A, 55 percent of patients with baseline low immunity (CD4 counts <50 cells/μL) achieved ≥2 log c/mL decline or undetectable AdV at Week 4. In Cohort B, 52 percent of patients with baseline low immunity achieved ≥2 log c/mL decline or undetectable AdV over the same period of time. In patients with disseminated disease, rapid virologic response, defined as undetectable AdV viremia at Week 6, was associated with nearly double the survival rate and lower adenovirus-associated mortality compared with subjects who did not have an antiviral response. *Responders defined as subjects with baseline AdV viremia still on study at Week 6 who had undetectable plasma AdV at Week 6; non-responders defined as subjects who did not achieve the specified cut-off. A Cox model incorporating age group was used to compare mortality at 36 weeks in responders and non-responders.  Diarrhea was the most commonly reported treatment emergent adverse event in the AdVise trial, reported in 38 percent of adult and 43 percent of pediatric HCT recipients. Many subjects enrolled in the AdVise trial, particularly in the first few months of the study, were begun on therapy at a point when they had multiple organ failure or other diagnoses likely to negatively impact their ability to survive the first four weeks of treatment. There was therefore a significant improvement in survival observed for subjects enrolled in the fourth quartile who were begun on brincidofovir with lower viral loads and a shorter time from AdV diagnosis to initiation of treatment. In the anticipated Study 999, patients who are unlikely to survive four weeks will not be enrolled in the trial. “AdVise is the first interventional trial in patients with serious adenovirus infections, a highly fatal disease after transplant. Because the median time to clear adenovirus from plasma in pediatric subjects was only 2-3 weeks, shorter courses of therapy with brincidofovir may deliver antiviral benefit and improve overall outcomes while limiting the risk of GI toxicity,” said Garrett Nichols, MD, MS, and Chief Medical Officer at Chimerix. “We plan to conduct a small comparative study in about 100 patients with short course oral brincidofovir to optimize outcomes in serious adenovirus disease.” Adenovirus (AdV) causes gastrointestinal and upper respiratory infections, including the common cold, in individuals with a functional immune system. However, in people with a weakened immune system, adenovirus can lead to life-threatening infections, including pneumonia and hepatitis. Pediatric and adult patients who have undergone allogeneic hematopoietic cell transplants (HCT) are at especially high risk for serious or fatal AdV infections due to profound immunodeficiency. Mortality rates of 50 to 80 percent have been reported in the literature for disseminated AdV disease. Rates of AdV infection with virus detected in the blood or other body fluids are higher in pediatric transplant recipients than in adults, and have resulted in many medical centers instituting screening protocols to detect AdV infection before the virus causes serious disease. There is currently no approved therapy for AdV infection, and although progression to disseminated disease in pediatric HCT recipients occurs in a small proportion of patients with AdV viremia, mortality rates for pediatric patients with confirmed AdV disease is greater than 50 percent in the first three months after diagnosis. Chimerix's lead product candidate, brincidofovir, is a nucleotide analog that has shown in vitro antiviral activity against all five families of DNA viruses that affect humans, including the herpesviruses and adenoviruses. Brincidofovir has a high barrier to resistance, no myelosuppression and low risk of nephrotoxicity. Brincidofovir has received Fast Track designation from the FDA for adenovirus, CMV and smallpox. Brincidofovir has also received Orphan Medicinal Product Designation from the European Commission for the treatment of adenovirus and for the prevention of CMV disease, and the Committee for Orphan Medicinal Products has issued a positive opinion for an Orphan Designation for the treatment of smallpox. Chimerix is a biopharmaceutical company dedicated to discovering, developing and commercializing medicines that improve outcomes for immunocompromised patients. Chimerix's proprietary lipid conjugate technology has produced brincidofovir (BCV); CMX157, which was licensed to ContraVir Pharmaceuticals; and earlier-stage clinical candidates. Chimerix recently announced a new clinical candidate, CMX521, for the treatment and/or prevention of norovirus. For further information, please visit Chimerix's website, www.chimerix.com. This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the possibility that there may not be a viable continued development path for BCV, that any clinical trials we may conduct will not demonstrate adequate efficacy and safety of BCV, that enrollment in clinical trials we may conduct may be insufficient or slower than we anticipate, that the FDA and other regulatory authorities may not approve BCV or BCV-based regimens, and that marketing approvals, if granted, may have significant limitations on their use. As a result, BCV may never be successfully commercialized. In addition, Chimerix may be unable to file for regulatory approval for BCV with other regulatory authorities. These risks, uncertainties and other factors could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Risks are described more fully in the Company's filings with the Securities and Exchange Commission, including without limitation the Company's most recent Quarterly Report on Form 10-Q and other documents subsequently filed with or furnished to the Securities and Exchange Commission. All forward-looking statements contained in this Current Report on Form 8-K speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.


SEATTLE--(BUSINESS WIRE)--Omeros Corporation (NASDAQ: OMER) today announced additional positive data from the ongoing Phase 2 clinical trial evaluating OMS721 in the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy (HCT-TMA). These data were presented at the combined annual meetings of the Center for International Blood & Marrow Transplant Research (CIBMTR) and the American Society for Blood and Marrow Transplantation (ASBMT). The presentation, “Early Results of a Phase 2 Study Using OMS721 in Patients with Hematopoietic Stem Cell Transplant-Associated Thrombotic Microangiopathy (HCT-TMA),” summarized clinical data from the seven HCT-TMA patients who to date have been treated with OMS721. Samer Khaled, M.D., Assistant Clinical Professor of Hematology & Hematopoietic Cell Transplantation at City of Hope, presented the data Saturday, February 25, 2017. The Phase 2 uncontrolled clinical trial is ongoing in patients with one of three types of TMA, including HCT-TMA. To be eligible for enrollment, HCT-TMA patients are required to be adults with post-transplant TMA persisting at least two weeks following calcineurin inhibitor modification (conservative treatment). This population is at high risk for poor outcomes, including mortality. The primary efficacy endpoint of the study is change in platelet count. Additional efficacy endpoints include changes in lactate dehydrogenase (LDH) and haptoglobin levels. The presentation included multiple figures summarizing these efficacy measures following treatment with OMS721. Consistent with previously reported results, statistically significant and clinically meaningful improvements in TMA disease activity were observed over the course of treatment, specifically in mean platelet count, mean LDH and mean haptoglobin. Mean creatinine also improved but did not reach statistical significance. “TMA following stem cell transplantation can be a devastating complication, especially in these patients who had failed conservative treatment,” stated Dr. Khaled. “Their respective prognoses were poor, and the positive responses that we have observed with OMS721 are truly impressive. We are continuing to enroll patients in this study and I look forward to working with Omeros to move OMS721 through further development.” Thrombotic microangiopathy is a potentially life-threatening complication of HCT. Approximately 20,000 HCT procedures are performed in the U.S. annually, and TMA is reported to occur in approximately 10 to 25 percent of HCT patients. Although the kidney is the most commonly affected organ, HCT-TMA is a multi-system disorder and can also manifest clinically in the lungs, gastrointestinal tract and central nervous system. Reported mortality in patients with multi-organ involvement is greater than 90%. Even in patients who survive acute episodes, HCT-TMA increases the risk for chronic kidney disease and end-stage renal disease. The most common adverse events observed to date in the study have been diarrhea, abdominal pain, anemia, neutropenia, hyperbilirubinemia, hyperkalemia and graft-versus-host disease, all of which commonly occur with HCT. A total of ten serious adverse events have been reported, none considered related to OMS721 treatment. Two patients died of progression of cancer after less than three weeks of OMS721 treatment and one patient died of graft failure after completing the study and positively responding to OMS721. None of these deaths was considered by the investigators to be related to OMS721 treatment. “We are excited about the consistently positive results in this study,” stated Gregory A. Demopulos M.D., chairman and chief executive officer of Omeros. “HCT-TMA is frequently fatal and there is no approved treatment. We plan to discuss our data with the FDA and international regulatory agencies as we continue to design an efficient Phase 3 program with the objective of accelerating access to OMS721 for physicians and their patients.” Additional data related to treatment of HCT-TMA with OMS721 will be presented at the Annual Meeting of the European Society of Blood and Marrow Transplantation in Marseille, France later next month. Omeros controls the worldwide rights to MASP-2 and all therapeutics targeting MASP-2, a novel pro-inflammatory protein target involved in activation of the complement system, which is an important component of the immune system. The complement system plays a role in the inflammatory response and becomes activated as a result of tissue damage or microbial infection. MASP-2 is the effector enzyme of the lectin pathway, one of the principal complement activation pathways. Importantly, inhibition of MASP-2 does not appear to interfere with the antibody-dependent classical complement activation pathway, which is a critical component of the acquired immune response to infection, and its abnormal function is associated with a wide range of autoimmune disorders. MASP-2 is generated by the liver and is then released into circulation. Adult humans who are genetically deficient in one of the proteins that activate MASP-2 do not appear to be detrimentally affected by the deficiency. Omeros has received both Orphan Drug status and Fast Track designation from the U.S. FDA for its lead human MASP-2 antibody OMS721. Following discussions with both the FDA and the European Medicines Agency, a Phase 3 program for OMS721 in atypical hemolytic uremic syndrome is in progress. Also, two Phase 2 trials are ongoing. One is evaluating OMS721 in glomerulonephropathies, which has generated positive data in patients with immunoglobulin A (IgA) nephropathy and with membranous nephropathy and the other is being conducted in patients with thrombotic microangiopathies (TMAs), with positive data reported in patients with hematopoietic stem cell transplant-associated TMA. In addition to potential intravenous administration, Omeros plans to commercialize OMS721 for one or more therapeutic indications as a subcutaneous injection and is also developing small-molecule inhibitors of MASP-2. Based on requests from treating physicians, Omeros has established a compassionate-use program for OMS721, which is active in both the U.S. and Europe. Omeros also has identified MASP-3 as the protein that is critical to the activation of the complement system’s alternative pathway in humans, which is linked to a wide range of immune-related disorders. In addition to its lectin pathway inhibitors, the company is advancing its development of antibodies and small-molecule inhibitors against MASP-3 to block activation of the alternative pathway. Omeros is a biopharmaceutical company committed to discovering, developing and commercializing both small-molecule and protein therapeutics for large-market as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. Part of its proprietary PharmacoSurgery® platform, the company’s first drug product, OMIDRIA® (phenylephrine and ketorolac injection) 1% / 0.3%, was broadly launched in the U.S. in April 2015. OMIDRIA is the first and only FDA-approved drug (1) for use during cataract surgery or intraocular lens (IOL) replacement to maintain pupil size by preventing intraoperative miosis (pupil constriction) and to reduce postoperative ocular pain and (2) that contains an NSAID for intraocular use. In the European Union, the European Commission has approved OMIDRIA for use in cataract surgery and lens replacement procedures to maintain mydriasis (pupil dilation), prevent miosis (pupil constriction), and to reduce postoperative eye pain. Omeros has clinical-stage development programs focused on: complement-associated thrombotic microangiopathies; complement-mediated glomerulonephropathies; Huntington’s disease and cognitive impairment; and addictive and compulsive disorders. In addition, Omeros has a proprietary G protein-coupled receptor (GPCR) platform, which is making available an unprecedented number of new GPCR drug targets and corresponding compounds to the pharmaceutical industry for drug development, and a platform used to generate antibodies. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the “safe harbor” created by those sections for such statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “intend,” “look forward to,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions and variations thereof. Forward-looking statements are based on management’s beliefs and assumptions and on information available to management only as of the date of this press release. Omeros’ actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, risks associated with product commercialization and commercial operations, unproven preclinical and clinical development activities, regulatory oversight, intellectual property claims, competitive developments, litigation, and the risks, uncertainties and other factors described under the heading “Risk Factors” in the company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 9, 2016. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the company assumes no obligation to update these forward-looking statements, even if new information becomes available in the future.


News Article | February 23, 2017
Site: globenewswire.com

HCT-hakeyhdistelmätutkimushanke on osa Metsätehon puutavaran HCT-yhdistelmien tutkimusta. Sen tavoitteena on kehittää normaaliin päätieliikenteeseen sopivia, ympäristöystävällisiä, turvallisia ja tehokkaita yhdistelmiä. Yksi hakeyhdistelmähankkeen tutkimuskohteista on kuljetustekniikan kehittäminen. Esimerkiksi Lappeenrannan teknillinen yliopisto ja yhdistelmien valmistajat tekevät Tekes-rahotteista tutkimusta, jossa tutkitaan HCT-yhdistelmien runkorakenteita ja valmistusteknistä optimointia. UPM uudistaa bio- ja metsäteollisuutta. Rakennamme kestävää tulevaisuutta kuudella liiketoiminta-alueella: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Paper ENA ja UPM Plywood. Tuotteemme valmistetaan uusiutuvista raaka-aineista ja ne ovat kierrätettäviä. Palvelemme asiakkaitamme maailmanlaajuisesti. Yhtiössämme työskentelee noin 19 300 henkilöä ja vuosittainen liikevaihtomme on noin 10 miljardia euroa. UPM:n osakkeet on listattu Helsingin pörssissä. UPM - The Biofore Company - www.upm.fi

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