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News Article | February 16, 2017
Site: www.accesswire.com

TORONTO, ON / ACCESSWIRE / February 16, 2017 / Wi2Wi Corporation (Wi2Wi or the Company) (TSX-V: YTY), announces that Mr. Daniel Phelan has resigned as a director and Chairman of the Board of Directors. Mr. Michael R. Sonnenreich and Fraser C. Henderson Sr., M.D have joined the Board of Directors and Mr. Sonnenreich was elected as the Chairman of the Board of Directors. Mr. Sonnenreich is a lawyer and a philanthropist and has extensive management experiences in various industries; Technology, Pharmaceutical and Global Marketing. He is an active stake holder and advisor to several national and international companies. Currently, Mr. Sonnenreich is the Chairman of the Board of Kikaku America International, and Vice Chairman of PharMa International Corporation of Tokyo, Japan. He is a graduate of the University of Wisconsin, the University of Madrid, Spain, and Harvard University Law School. In the past twelve years Mr. Sonnenreich has served as a board member and trustee of numerous important companies and universities, including Williams Creek Explorations, Vancouver, British Columbia, Canada; Wi2Wi, San Jose, California; Tyhee Development Corp. Ltd., Vancouver, British Columbia, Canada; Les Aliments SoYummi, Inc., Montreal, Canada; the ABD American Capital Market Funds; the Integra Fund; Continental Steel Inc.; Amorfix Life Sciences Ltd. (now Promis Neurosciences), Vancouver, British Columbia, Canada; Scientific American; and Medical Tribune International. Mr. Sonnenreich has had long-term involvement with many nonprofit institutions. These include the Washington National Opera (President 1996-98; 2002-2006); D.C. Jazz Festival (Chairman, 2010-2014); Sackler/Freer Galleries of Art (Smithsonian Institution), D.C.; Commission on the Arts and Humanities (Mayoral Appointment as Commissioner, 2008-2011); the Johns Hopkins University School of Advanced International Studies; the New England Conservatory of Music; the North Carolina Museum of Art Foundation; the University of Virginia Art Museum; Clark University; the Maret School; and the Richard Tucker Music Foundation. Mr. Sonnenreich served as President of the National Coordinating Council on Drug Education. In 2008, he was named Distinguished Washingtonian by the University Club of Washington, D.C. He previously served in government in the Department of Justice and was appointed Executive Director of the National Commission on Marijuana and Drug Abuse. Dr. Henderson is a world renowned Board-certified Neurological Surgeon and a retired US Navy Commander. He has received both his bachelor's and Medical degree from the University of Virginia, Charlottesville Virginia. He completed his fellowship in Craniospinal surgery under Professor Alan Crockard at The National Hospital for Neurology and Neurosurgery, Queen Square, London. As Part of his active duty obligations; Dr. Henderson was the Director of Spine at National Naval Medical Center, Bethesda, MD and was Brigade Neurosurgeon for the 4th Marine Expeditionary Brigade in Desert Shield and Desert Storm during the 1st Gulf War. Finishing his tour with the US Navy, Commander Henderson joined Georgetown University, in Washington D.C. as Director of Neurosurgery of the Spine and Cranio-cervical Junction. He was Co-Director of the Lombardi Neuro-Oncology Division, Co-Director of the CyberKnife Radiosurgery Center, and Medical Director of the Neuroscience Nursing Units. He was Professor of Neurosurgery and Radiology at Georgetown University, where he was active in advancing CyberKnife radiosurgery for treatment of chordoma and other complex spinal tumors. He is the Director of Neurosurgery at Doctors Hospital and Director of the Chiari Center of Excellence, where he is focused on the development of the understanding and treatment of deformity induced injury to the brainstem and spinal cord in Chiari Malformation and Ehlers Danlos Syndrome. Dr. Henderson developed intellectual property for three inventions relating to spinal radiosurgery and spinal cancer, including the TPS® -Telescopic Plate Spacer- a vertebral replacement device for metastatic disease and was Principal Investigator in the translational development of a radio-sensitizing drug, and a drug to block the malignant invasiveness of Glioblastoma Multiforme. He is an inventor of 11 devices and concepts relating to disorders of the brainstem and spinal cord, and has published over 50 peer reviewed articles and book chapters, and given over 120 invited lectures with a focus on craniocervical disorders, Chiari malformation, cancer, radiosurgery and unusual problems of the spine "We are excited to have both Mr. Sonnenreich and Mr. Henderson in the Board. Their vast experience and expertise will definitely guide the company into the successful future," said Zachariah Mathews, President and CEO of Wi2Wi. "The Board expresses its profound appreciation to Mr. Daniel Phelan for the business and financial expertise he brought to the board of directors over the past three years and helping the management of the company," said the Chairman of the Board Mr. Michael Sonnenreich. For further information, please contact: Essentially, IoT and M2M describe the network of physical objects or "things" embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data. Driven by several factors including the growth in the availability of Broadband Internet, which reduces the cost of connecting, and the related increase in Wi-Fi capabilities as well as sensors built into myriad technologies, this has been described as the "perfect storm" for the IoT. Almost any device with an on and off switch that can be connected to the Internet (and/or to each other) - anything from cell phones, coffee makers, washing machines, headphones, lamps, wearable devices, cars, as well as machine components in the engine of a jet airplane or the drill of an oil rig. According to analyst firm Gartner, by 2020 there will be over 26 billion connected devices. Others think this figure could be too conservative by a factor of four. Wi2Wi is a vertically-integrated technology company which designs, manufactures and markets high performance, low power wireless connectivity solutions, global navigation satellite system (GNSS) modules, and frequency control devices. The Company's products and services address numerous applications in the markets of Internet of Things (IoT), Machine to Machine (M2M), Avionics, Space, and Government Sponsored Projects. Wi2Wi's products and value-added services provide highly integrated, rugged, robust, and reliable multiprotocol wireless actuators with embedded software, along with customized timing and frequency control devices for customers, worldwide. The Company was founded in 2005 and is strategically headquartered in San Jose, California with satellite offices in Middleton, Wisconsin and Hyderabad, India. Wi2Wi's manufacturing operations, its laboratory for reliability and quality control, together with design and engineering for timing and frequency control devices are located in Middleton, WI. The branch office, located in Hyderabad, India, focuses on the development of wireless connectivity; both hardware and software. Wi2Wi's strategic objective is to service the unique needs of each customer by providing end to end wireless integration solutions and highly customizable timing and frequency control devices. Wi2Wi distinguishes itself from commodity grade products, with best in the market performance, highly reliable, low power wireless connectivity products with integrated software that supports broader temperature ranges and a longer product life cycle. Furthermore, Wi2Wi's end to end product solutions helps the customer substantially reduce their end product expense, certification cost, and overall R&D investment, in addition to substantially reducing the time to market. Wi2Wi has partnered with best in class global leaders in technology, manufacturing, and sales. The Company uses a wide network of manufacturer's representatives, worldwide, to promote its products and services, and has partnered with world class distributors for the fulfillment of orders along with direct sales. Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with the ability to access sufficient capital, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, stock market volatility. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


News Article | March 2, 2017
Site: www.prweb.com

CANNDESCENT, a cultivator of ultra-premium cannabis flower, announced today that it has abandoned the use of traditional cannabis strain names, and that it will adopt an effects-based classification system: Calm, Cruise, Create, Connect and Charge. In development for a year, the system simplifies cannabis for end users by combining informative names, colors, numbers, and tasting notes to indicate how users may feel after consumption. As seen in the chart below, CANNDESCENT describes each broad category and differentiates between a strain’s potential effect on the mind and body. In addition to the basic categories, the company provides strain-specific tasting notes and numbering to help users control their experience time and time again. For example, the strain description for CALM NO. 105TM reads, “Lulls the mind and body into a gratifying sleep, waking you up alert for the next day,” and the strain CREATE NO. 301 TM offers, “Focuses your mind and settles your body, so it’s ideal for crafts or computer work.” As part of its effects-based system, CANNDESCENT pairs activities with each strain the way a sommelier might tailor a wine selection to a particular meal or course. The company calls this pairing of cannabis flower with the desired effect, “The Art of FlowerTM.” It believes the user is the artist, who can paint the canvas of his or her life experience and augment it by using cannabis responsibly. “You shouldn’t need to bio-hack your body through a periodic table of ominous strain names like Durban Poison and Train wreck just to buy some pot,” said Adrian Sedlin, CEO of CANNDESCENT. Sedlin continued, “The way Apple made computing more intuitive and Google streamlined search, we want to democratize strain selection and provide users the opportunity to curate their life experience. Google asked, 'What do you want to know?’ CANNDESCENT asks, ‘How do you want to feel?’” CANNDESCENT’s EVP of Operations, Rick Fisher, added, “Strain names no longer communicate usable information because different growers cultivate the same strain using different phenotypes, grow mediums, nutrients, environments, skills, and pesticides.” Fisher continued, “Selecting CANNDESCENT CONNECT NO. 401TM or any of our strains, users know CANNDESCENT made it and millions of dollars went into creating a robust, reliable and pesticide-free experience.” While the company offers intuitive strain names and descriptions, it acknowledges that an individual’s experience will vary based on his or her unique biochemistry or mindset prior to use. Reviewing CANNDESCENT’s classification system, Eugenio Garcia, Publisher of the widely circulated Cannabis Now Magazine noted, “For the market to appeal to more mainstream consumers and grow geometrically, permitted cultivators like CANNDESCENT need to lead the way with this type of disruptive innovation. CANNDESCENT just made navigating the category easier for newbies and hard core users alike.” Adding to this sentiment, Matt Stang, CEO of High Times, the largest cannabis publication in the world, stated, “CANNDESCENT just expanded the market for everyone by replacing countercultural, code speak with transparency and ease-of-use. With top talent in both the garden and board room, CANNDESCENT is clearly leading the industry into the future.” CANNDESCENT currently offers 24 strains under its system, says it can accommodate up to 500, and plans to add new strains and “C”ategoriies over time. It will do so by combining feedback from users and continued research by its in-house Ph.D of Neurosciences. About CANNDESCENT CANNDESCENT believes individuals should achieve their best self. It cultivates ultra-premium cannabis flowers that average 22%-33% THC content in fully licensed, indoor facilities. CANNDESCENT’s branded flowers pair exceptional product quality, state-of-the art cannabis science, and informative product categories— Calm, Cruise, Create, Connect, and Charge--so consumers can navigate to their desired effect. That is, “The Art of Flower.” Consumers can purchase CANNDESCENT’s flowers through California dispensaries and delivery services that value CANNDESCENT’s professional management, reliability, marketing, and product quality.


News Article | March 2, 2017
Site: www.prweb.com

CANNDESCENT, a cultivator of ultra-premium cannabis, announced today that it has abandoned the use of traditional strain names, and that it will adopt an effects-based classification system, grouping its flowers Calm, Cruise, Create, Connect and Charge. In development for a year, the system simplifies cannabis for end users by combining informative names, colors, numbers, and tasting notes to indicate how users may feel after consumption. As seen in the chart attached, CANNDESCENT describes each category while differentiating its potential effect on the mind and body. In addition to the basic categories, the company provides strain-specific tasting notes and numbering to help users control their experience time and time again. For example, the strain description for CALM NO. 105 reads, “Lulls the mind and body into a gratifying sleep, waking you up alert for the next day,” and the strain CREATE NO. 301 offers, “Focuses your mind and settles your body, so it’s ideal for crafts or computer work.” As part of its effects-based system, CANNDESCENT pairs activities with each strain the way a sommelier might tailor a wine selection to a particular meal or course. The company calls this pairing of cannabis flower with an effect or activity, “The Art of Flower.” The company believes the consumer creates The Art of Flower and beautifies the canvas of his or her life by marrying the right strain, activity, and responsible use. “You shouldn’t need to bio-hack your body through a periodic table of ominous strains like Durban Poison and Train wreck just to buy some cannabis,” said Adrian Sedlin, CEO of CANNDESCENT. Sedlin continued, “The way Apple made computing more intuitive and Google streamlined search, we want to simplify strain selection and provide users the opportunity to curate their life experience. Google asked, ‘What do you want to know?’ CANNDESCENT asks, ‘How do you want to feel?’” CANNDESCENT’s EVP of Operations, Rick Fisher, added, “Given that hundreds of growers cultivate the same strain using different phenotypes, grow mediums, nutrients, environments, techniques, and even harmful pesticides, the same strain can produce wildly different effects; names have lost their meaning as a result.” Fisher continued, “Selecting CONNECT NO. 401 or any of our strains, users know CANNDESCENT produced it, and millions of dollars went into creating a robust, predictable and pesticide-free experience.” While the company offers intuitive strain names and descriptions, it acknowledges that an individual’s experience may vary based on his or her unique biochemistry or mindset prior to use. Reviewing CANNDESCENT’s classification system, Eugenio Garcia, Publisher of the nationally distributed Cannabis Now Magazine noted, “For the market to appeal to more mainstream consumers and grow geometrically, permitted cultivators like CANNDESCENT need to lead the way with this type of disruptive innovation. CANNDESCENT just made navigating the category easier for experienced users and newbies alike.” Adding to this sentiment, Matt Stang, CRO of High Times, the largest cannabis publication in the world stated, “CANNDESCENT just changed the game, making it simple and easy for everyone to elevate their mood and choose the effect they desire. Combining top notch business minds with deep roots in premium cultivation, CANNDESCENT will clearly be a leader for years to come.” CANNDESCENT currently offers 24 strains under its system, says it can accommodate up to 500, and plans to add new strains and “C”ategories over time. It will do so by combining feedback from users and continued research by its in-house Ph.D of Neurosciences. CANNDESCENT believes individuals can achieve their best self. It cultivates ultra-premium cannabis flowers that average 22%-33% THC content in fully licensed, indoor facilities. CANNDESCENT’s branded flowers pair exceptional product quality, state-of-the art cannabis science, and informative product categories— Calm, Cruise, Create, Connect, and Charge--so consumers can navigate to their desired effect and live The Art of Flower. Consumers can purchase CANNDESCENT’s flowers through California dispensaries and delivery services that value CANNDESCENT’s professional management, reliability, marketing, and product quality.


News Article | February 15, 2017
Site: www.eurekalert.org

LA JOLLA--(February 14, 2017) Not everyone is Fred Astaire or Michael Jackson, but even those of us who seem to have two left feet have got rhythm--in our brains. From breathing to walking to chewing, our days are filled with repetitive actions that depend on the rhythmic firing of neurons. Yet the neural circuitry underpinning such seemingly ordinary behaviors is not fully understood, even though better insights could lead to new therapies for disorders such as Parkinson's disease, ALS and autism. Recently, neuroscientists at the Salk Institute used stem cells to generate diverse networks of self-contained spinal cord systems in a dish, dubbed circuitoids, to study this rhythmic pattern in neurons. The work, which appears online in the February 14, 2017, issue of eLife, reveals that some of the circuitoids--with no external prompting--exhibited spontaneous, coordinated rhythmic activity of the kind known to drive repetitive movements. "It's still very difficult to contemplate how large groups of neurons with literally billions if not trillions of connections take information and process it," says the work's senior author, Salk Professor Samuel Pfaff, who is also a Howard Hughes Medical Institute investigator and holds the Benjamin H. Lewis Chair. "But we think that developing this kind of simple circuitry in a dish will allow us to extract some of the principles of how real brain circuits operate. With that basic information maybe we can begin to understand how things go awry in disease." Nerve cells in your brain and spinal cord connect to one another much like electronic circuits. And just as electronic circuits consist of many components, the nervous system contains a dizzying array of neurons, often resulting in networks with many hundreds of thousands of cells. To model these complex neural circuits, the Pfaff lab prompted embryonic stem cells from mice to grow into clusters of spinal cord neurons, which they named circuitoids. Each circuitoid typically contained 50,000 cells in clumps just large enough to see with the naked eye, and with different ratios of neuronal subtypes. With molecular tools, the researchers tagged four key subtypes of both excitatory (promoting an electrical signal) and inhibitory (stopping an electrical signal) neurons vital to movement, called V1, V2a, V3 and motor neurons. Observing the cells in the circuitoids in real time using high-tech microscopy, the team discovered that circuitoids composed only of V2a or V3 excitatory neurons or excitatory motor neurons (which control muscles) spontaneously fired rhythmically, but that circuitoids comprising only inhibitory neurons did not. Interestingly, adding inhibitory neurons to V3 excitatory circuitoids sped up the firing rate, while adding them to motor circuitoids caused the neurons to form sub-networks, smaller independent circuits of neural activity within a circuitoid. "These results suggest that varying the ratios of excitatory to inhibitory neurons within networks may be a way that real brains create complex but flexible circuits to govern rhythmic activity," says Pfaff. "Circuitoids can reveal the foundation for complex neural controls that lead to much more elaborate types of behaviors as we move through our world in a seamless kind of way." Because these circuitoids contain neurons that are actively functioning as an interconnected network to produce patterned firing, Pfaff believes that they will more closely model a normal aspect of the brain than other kinds of cell culture systems. Aside from more accurately studying disease processes that affect circuitry, the new technique also suggests a mechanism by which dysfunctional brain activity could be treated by altering the ratios of cell types in circuits. Other authors included: Matthew J. Sternfeld, Christopher A. Hinckley, Niall J. Moore, Matthew T. Pankratz, Kathryn L. Hilde, Shawn P. Driscoll, Marito Hayashi, Neal D. Amin, Dario Bonanomi, Wesley D. Gifford, and Martyn Goulding of Salk; and Kamal Sharma of the University of Illinois, Chicago. The work was funded by the National Cancer Institute at the National Institutes of Health; the Rose Hills Foundation; the H. A. and Mary K. Chapman Charitable Trust; the University of California, San Diego, Neurosciences Graduate Program; a U.S. National Research Service Award fellowship from the U.S. National Institutes of Health National Institute of Neurological Disorders and Stroke; the National Science Foundation; the Japanese Ministry of Education, Culture, Sports, Science, and Technology Long-Term Student Support Program; the Timken-Sturgis Foundation; the California Institute for Regenerative Medicine; the Howard Hughes Medical Institute; the Christopher and Dana Reeve Foundation; the Marshall Heritage Foundation; and the Sol Goldman Charitable Trust. Every cure has a starting point. The Salk Institute embodies Jonas Salk's mission to dare to make dreams into reality. Its internationally renowned and award-winning scientists explore the very foundations of life, seeking new understandings in neuroscience, genetics, immunology, plant biology and more. The Institute is an independent nonprofit organization and architectural landmark: small by choice, intimate by nature and fearless in the face of any challenge. Be it cancer or Alzheimer's, aging or diabetes, Salk is where cures begin. Learn more at: salk.edu.


CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--For nearly forty years, the Jefferson Scholars Foundation has played a valuable role in recruiting top undergraduate and graduate students to the University of Virginia. Now, the Foundation is helping recruit world-class professors, too. The Jefferson Scholars Foundation, a private foundation that supports the University of Virginia through undergraduate, graduate and faculty programs, has filled its first endowed professorship. The Paul T. Jones Jefferson Scholars Foundation Professorship will be held by Professor J.C. Cang, a renowned neurobiology professor. Professor Cang currently serves as Professor of Neurobiology at Northwestern University in Evanston, Illinois. He will begin work at the University of Virginia in the fall of 2017 and help lead the University’s brain-science research efforts. Professor Cang studies the organization, function, and development of the visual system. In one research area, Professor Cang’s laboratory made a paradigm-shifting discovery regarding how sensory experience shapes visual functions in the cortex. Professor Cang has been awarded the Sloan Research Fellowship, the Klingenstein Fellowship Award in Neurosciences, and several research grants including ones from the National Institutes of Health. “Professor Cang is a true rock star. Developing a better understanding of our brain is the focus of a national research initiative, and Professor Cang’s research will immediately bolster the work currently being done at the University of Virginia to support that effort,” said Jimmy Wright, president of the Jefferson Scholars Foundation. Joining Professor Cang on the University faculty will be his partner, Professor Xiaorung Liu, also a star career neurobiologist at Northwestern. “Professors Cang and Liu will be stellar additions to our cross-grounds neuroscience initiatives,” said Ian Baucom, Dean of the College and Graduate Schools of Arts and Sciences. In 2012, the Jefferson Scholars Foundation announced the creation of two Jefferson Scholars Foundation Endowed Professorships and launched an initiative to endow several additional Endowed Professorships. The professorships represent an extension of the Foundation’s mission to serve the University by identifying, attracting, and nurturing individuals of extraordinary intellectual range and depth whose contributions and leadership will enhance the University community. “We have a rich tradition of bringing exceptional students to Charlottesville and these endowed professorships will help ensure that University of Virginia students learn from some of our nation’s brightest teachers,” Wright said. “We are grateful to Paul Tudor Jones and our other generous donors for creating these endowed professorships that allow the University of Virginia to compete on the world stage for truly remarkable faculty.”


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

TORONTO, ON / ACCESSWIRE / February 16, 2017 / Wi2Wi Corporation (Wi2Wi or the Company) (TSX-V: YTY), announces that Mr. Daniel Phelan has resigned as a director and Chairman of the Board of Directors. Mr. Michael R. Sonnenreich and Fraser C. Henderson Sr., M.D have joined the Board of Directors and Mr. Sonnenreich was elected as the Chairman of the Board of Directors. Mr. Sonnenreich is a lawyer and a philanthropist and has extensive management experiences in various industries; Technology, Pharmaceutical and Global Marketing. He is an active stake holder and advisor to several national and international companies. Currently, Mr. Sonnenreich is the Chairman of the Board of Kikaku America International, and Vice Chairman of PharMa International Corporation of Tokyo, Japan. He is a graduate of the University of Wisconsin, the University of Madrid, Spain, and Harvard University Law School. In the past twelve years Mr. Sonnenreich has served as a board member and trustee of numerous important companies and universities, including Williams Creek Explorations, Vancouver, British Columbia, Canada; Wi2Wi, San Jose, California; Tyhee Development Corp. Ltd., Vancouver, British Columbia, Canada; Les Aliments SoYummi, Inc., Montreal, Canada; the ABD American Capital Market Funds; the Integra Fund; Continental Steel Inc.; Amorfix Life Sciences Ltd. (now Promis Neurosciences), Vancouver, British Columbia, Canada; Scientific American; and Medical Tribune International. Mr. Sonnenreich has had long-term involvement with many nonprofit institutions. These include the Washington National Opera (President 1996-98; 2002-2006); D.C. Jazz Festival (Chairman, 2010-2014); Sackler/Freer Galleries of Art (Smithsonian Institution), D.C.; Commission on the Arts and Humanities (Mayoral Appointment as Commissioner, 2008-2011); the Johns Hopkins University School of Advanced International Studies; the New England Conservatory of Music; the North Carolina Museum of Art Foundation; the University of Virginia Art Museum; Clark University; the Maret School; and the Richard Tucker Music Foundation. Mr. Sonnenreich served as President of the National Coordinating Council on Drug Education. In 2008, he was named Distinguished Washingtonian by the University Club of Washington, D.C. He previously served in government in the Department of Justice and was appointed Executive Director of the National Commission on Marijuana and Drug Abuse. Dr. Henderson is a world renowned Board-certified Neurological Surgeon and a retired US Navy Commander. He has received both his bachelor's and Medical degree from the University of Virginia, Charlottesville Virginia. He completed his fellowship in Craniospinal surgery under Professor Alan Crockard at The National Hospital for Neurology and Neurosurgery, Queen Square, London. As Part of his active duty obligations; Dr. Henderson was the Director of Spine at National Naval Medical Center, Bethesda, MD and was Brigade Neurosurgeon for the 4th Marine Expeditionary Brigade in Desert Shield and Desert Storm during the 1st Gulf War. Finishing his tour with the US Navy, Commander Henderson joined Georgetown University, in Washington D.C. as Director of Neurosurgery of the Spine and Cranio-cervical Junction. He was Co-Director of the Lombardi Neuro-Oncology Division, Co-Director of the CyberKnife Radiosurgery Center, and Medical Director of the Neuroscience Nursing Units. He was Professor of Neurosurgery and Radiology at Georgetown University, where he was active in advancing CyberKnife radiosurgery for treatment of chordoma and other complex spinal tumors. He is the Director of Neurosurgery at Doctors Hospital and Director of the Chiari Center of Excellence, where he is focused on the development of the understanding and treatment of deformity induced injury to the brainstem and spinal cord in Chiari Malformation and Ehlers Danlos Syndrome. Dr. Henderson developed intellectual property for three inventions relating to spinal radiosurgery and spinal cancer, including the TPS® -Telescopic Plate Spacer- a vertebral replacement device for metastatic disease and was Principal Investigator in the translational development of a radio-sensitizing drug, and a drug to block the malignant invasiveness of Glioblastoma Multiforme. He is an inventor of 11 devices and concepts relating to disorders of the brainstem and spinal cord, and has published over 50 peer reviewed articles and book chapters, and given over 120 invited lectures with a focus on craniocervical disorders, Chiari malformation, cancer, radiosurgery and unusual problems of the spine "We are excited to have both Mr. Sonnenreich and Mr. Henderson in the Board. Their vast experience and expertise will definitely guide the company into the successful future," said Zachariah Mathews, President and CEO of Wi2Wi. "The Board expresses its profound appreciation to Mr. Daniel Phelan for the business and financial expertise he brought to the board of directors over the past three years and helping the management of the company," said the Chairman of the Board Mr. Michael Sonnenreich. For further information, please contact: Essentially, IoT and M2M describe the network of physical objects or "things" embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data. Driven by several factors including the growth in the availability of Broadband Internet, which reduces the cost of connecting, and the related increase in Wi-Fi capabilities as well as sensors built into myriad technologies, this has been described as the "perfect storm" for the IoT. Almost any device with an on and off switch that can be connected to the Internet (and/or to each other) - anything from cell phones, coffee makers, washing machines, headphones, lamps, wearable devices, cars, as well as machine components in the engine of a jet airplane or the drill of an oil rig. According to analyst firm Gartner, by 2020 there will be over 26 billion connected devices. Others think this figure could be too conservative by a factor of four. Wi2Wi is a vertically-integrated technology company which designs, manufactures and markets high performance, low power wireless connectivity solutions, global navigation satellite system (GNSS) modules, and frequency control devices. The Company's products and services address numerous applications in the markets of Internet of Things (IoT), Machine to Machine (M2M), Avionics, Space, and Government Sponsored Projects. Wi2Wi's products and value-added services provide highly integrated, rugged, robust, and reliable multiprotocol wireless actuators with embedded software, along with customized timing and frequency control devices for customers, worldwide. The Company was founded in 2005 and is strategically headquartered in San Jose, California with satellite offices in Middleton, Wisconsin and Hyderabad, India. Wi2Wi's manufacturing operations, its laboratory for reliability and quality control, together with design and engineering for timing and frequency control devices are located in Middleton, WI. The branch office, located in Hyderabad, India, focuses on the development of wireless connectivity; both hardware and software. Wi2Wi's strategic objective is to service the unique needs of each customer by providing end to end wireless integration solutions and highly customizable timing and frequency control devices. Wi2Wi distinguishes itself from commodity grade products, with best in the market performance, highly reliable, low power wireless connectivity products with integrated software that supports broader temperature ranges and a longer product life cycle. Furthermore, Wi2Wi's end to end product solutions helps the customer substantially reduce their end product expense, certification cost, and overall R&D investment, in addition to substantially reducing the time to market. Wi2Wi has partnered with best in class global leaders in technology, manufacturing, and sales. The Company uses a wide network of manufacturer's representatives, worldwide, to promote its products and services, and has partnered with world class distributors for the fulfillment of orders along with direct sales. Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with the ability to access sufficient capital, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, stock market volatility. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. TORONTO, ON / ACCESSWIRE / February 16, 2017 / Wi2Wi Corporation (Wi2Wi or the Company) (TSX-V: YTY), announces that Mr. Daniel Phelan has resigned as a director and Chairman of the Board of Directors. Mr. Michael R. Sonnenreich and Fraser C. Henderson Sr., M.D have joined the Board of Directors and Mr. Sonnenreich was elected as the Chairman of the Board of Directors. Mr. Sonnenreich is a lawyer and a philanthropist and has extensive management experiences in various industries; Technology, Pharmaceutical and Global Marketing. He is an active stake holder and advisor to several national and international companies. Currently, Mr. Sonnenreich is the Chairman of the Board of Kikaku America International, and Vice Chairman of PharMa International Corporation of Tokyo, Japan. He is a graduate of the University of Wisconsin, the University of Madrid, Spain, and Harvard University Law School. In the past twelve years Mr. Sonnenreich has served as a board member and trustee of numerous important companies and universities, including Williams Creek Explorations, Vancouver, British Columbia, Canada; Wi2Wi, San Jose, California; Tyhee Development Corp. Ltd., Vancouver, British Columbia, Canada; Les Aliments SoYummi, Inc., Montreal, Canada; the ABD American Capital Market Funds; the Integra Fund; Continental Steel Inc.; Amorfix Life Sciences Ltd. (now Promis Neurosciences), Vancouver, British Columbia, Canada; Scientific American; and Medical Tribune International. Mr. Sonnenreich has had long-term involvement with many nonprofit institutions. These include the Washington National Opera (President 1996-98; 2002-2006); D.C. Jazz Festival (Chairman, 2010-2014); Sackler/Freer Galleries of Art (Smithsonian Institution), D.C.; Commission on the Arts and Humanities (Mayoral Appointment as Commissioner, 2008-2011); the Johns Hopkins University School of Advanced International Studies; the New England Conservatory of Music; the North Carolina Museum of Art Foundation; the University of Virginia Art Museum; Clark University; the Maret School; and the Richard Tucker Music Foundation. Mr. Sonnenreich served as President of the National Coordinating Council on Drug Education. In 2008, he was named Distinguished Washingtonian by the University Club of Washington, D.C. He previously served in government in the Department of Justice and was appointed Executive Director of the National Commission on Marijuana and Drug Abuse. Dr. Henderson is a world renowned Board-certified Neurological Surgeon and a retired US Navy Commander. He has received both his bachelor's and Medical degree from the University of Virginia, Charlottesville Virginia. He completed his fellowship in Craniospinal surgery under Professor Alan Crockard at The National Hospital for Neurology and Neurosurgery, Queen Square, London. As Part of his active duty obligations; Dr. Henderson was the Director of Spine at National Naval Medical Center, Bethesda, MD and was Brigade Neurosurgeon for the 4th Marine Expeditionary Brigade in Desert Shield and Desert Storm during the 1st Gulf War. Finishing his tour with the US Navy, Commander Henderson joined Georgetown University, in Washington D.C. as Director of Neurosurgery of the Spine and Cranio-cervical Junction. He was Co-Director of the Lombardi Neuro-Oncology Division, Co-Director of the CyberKnife Radiosurgery Center, and Medical Director of the Neuroscience Nursing Units. He was Professor of Neurosurgery and Radiology at Georgetown University, where he was active in advancing CyberKnife radiosurgery for treatment of chordoma and other complex spinal tumors. He is the Director of Neurosurgery at Doctors Hospital and Director of the Chiari Center of Excellence, where he is focused on the development of the understanding and treatment of deformity induced injury to the brainstem and spinal cord in Chiari Malformation and Ehlers Danlos Syndrome. Dr. Henderson developed intellectual property for three inventions relating to spinal radiosurgery and spinal cancer, including the TPS® -Telescopic Plate Spacer- a vertebral replacement device for metastatic disease and was Principal Investigator in the translational development of a radio-sensitizing drug, and a drug to block the malignant invasiveness of Glioblastoma Multiforme. He is an inventor of 11 devices and concepts relating to disorders of the brainstem and spinal cord, and has published over 50 peer reviewed articles and book chapters, and given over 120 invited lectures with a focus on craniocervical disorders, Chiari malformation, cancer, radiosurgery and unusual problems of the spine "We are excited to have both Mr. Sonnenreich and Mr. Henderson in the Board. Their vast experience and expertise will definitely guide the company into the successful future," said Zachariah Mathews, President and CEO of Wi2Wi. "The Board expresses its profound appreciation to Mr. Daniel Phelan for the business and financial expertise he brought to the board of directors over the past three years and helping the management of the company," said the Chairman of the Board Mr. Michael Sonnenreich. For further information, please contact: Essentially, IoT and M2M describe the network of physical objects or "things" embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data. Driven by several factors including the growth in the availability of Broadband Internet, which reduces the cost of connecting, and the related increase in Wi-Fi capabilities as well as sensors built into myriad technologies, this has been described as the "perfect storm" for the IoT. Almost any device with an on and off switch that can be connected to the Internet (and/or to each other) - anything from cell phones, coffee makers, washing machines, headphones, lamps, wearable devices, cars, as well as machine components in the engine of a jet airplane or the drill of an oil rig. According to analyst firm Gartner, by 2020 there will be over 26 billion connected devices. Others think this figure could be too conservative by a factor of four. Wi2Wi is a vertically-integrated technology company which designs, manufactures and markets high performance, low power wireless connectivity solutions, global navigation satellite system (GNSS) modules, and frequency control devices. The Company's products and services address numerous applications in the markets of Internet of Things (IoT), Machine to Machine (M2M), Avionics, Space, and Government Sponsored Projects. Wi2Wi's products and value-added services provide highly integrated, rugged, robust, and reliable multiprotocol wireless actuators with embedded software, along with customized timing and frequency control devices for customers, worldwide. The Company was founded in 2005 and is strategically headquartered in San Jose, California with satellite offices in Middleton, Wisconsin and Hyderabad, India. Wi2Wi's manufacturing operations, its laboratory for reliability and quality control, together with design and engineering for timing and frequency control devices are located in Middleton, WI. The branch office, located in Hyderabad, India, focuses on the development of wireless connectivity; both hardware and software. Wi2Wi's strategic objective is to service the unique needs of each customer by providing end to end wireless integration solutions and highly customizable timing and frequency control devices. Wi2Wi distinguishes itself from commodity grade products, with best in the market performance, highly reliable, low power wireless connectivity products with integrated software that supports broader temperature ranges and a longer product life cycle. Furthermore, Wi2Wi's end to end product solutions helps the customer substantially reduce their end product expense, certification cost, and overall R&D investment, in addition to substantially reducing the time to market. Wi2Wi has partnered with best in class global leaders in technology, manufacturing, and sales. The Company uses a wide network of manufacturer's representatives, worldwide, to promote its products and services, and has partnered with world class distributors for the fulfillment of orders along with direct sales. Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with the ability to access sufficient capital, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, stock market volatility. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


News Article | February 22, 2017
Site: www.eurekalert.org

Since the early seventies, scientists have been developing brain-machine interfaces; the main application being the use of neural prosthesis in paralyzed patients or amputees. A prosthetic limb directly controlled by brain activity can partially recover the lost motor function. This is achieved by decoding neuronal activity recorded with electrodes and translating it into robotic movements. Such systems however have limited precision due to the absence of sensory feedback from the artificial limb. Neuroscientists at the University of Geneva (UNIGE), Switzerland, asked whether it was possible to transmit this missing sensation back to the brain by stimulating neural activity in the cortex. They discovered that not only was it possible to create an artificial sensation of neuroprosthetic movements, but that the underlying learning process occurs very rapidly. These findings, published in the scientific journal Neuron, were obtained by resorting to modern imaging and optical stimulation tools, offering an innovative alternative to the classical electrode approach. Motor function is at the heart of all behavior and allows us to interact with the world. Therefore, replacing a lost limb with a robotic prosthesis is the subject of much research, yet successful outcomes are rare. Why is that? Until this moment, brain-machine interfaces are operated by relying largely on visual perception: the robotic arm is controlled by looking at it. The direct flow of information between the brain and the machine remains thus unidirectional. However, movement perception is not only based on vision but mostly on proprioception, the sensation of where the limb is located in space. "We have therefore asked whether it was possible to establish a bidirectional communication in a brain-machine interface: to simultaneously read out neural activity, translate it into prosthetic movement and reinject sensory feedback of this movement back in the brain", explains Daniel Huber, professor in the Department of Basic Neurosciences of the Faculty of Medicine at UNIGE. In contrast to invasive approaches using electrodes, Daniel Huber's team specializes in optical techniques for imaging and stimulating brain activity. Using a method called two-photon microscopy, they routinely measure the activity of hundreds of neurons with single cell resolution. "We wanted to test whether mice could learn to control a neural prosthesis by relying uniquely on an artificial sensory feedback signal", explains Mario Prsa, researcher at UNIGE and the first author of the study. "We imaged neural activity in the motor cortex. When the mouse activated a specific neuron, the one chosen for neuroprosthetic control, we simultaneously applied stimulation proportional to this activity to the sensory cortex using blue light". Indeed, neurons of the sensory cortex were rendered photosensitive to this light, allowing them to be activated by a series of optical flashes and thus integrate the artificial sensory feedback signal. The mouse was rewarded upon every above-threshold activation, and 20 minutes later, once the association learned, the rodent was able to more frequently generate the correct neuronal activity. This means that the artificial sensation was not only perceived, but that it was successfully integrated as a feedback of the prosthetic movement. In this manner, the brain-machine interface functions bidirectionally. The Geneva researchers think that the reason why this fabricated sensation is so rapidly assimilated is because it most likely taps into very basic brain functions. Feeling the position of our limbs occurs automatically, without much thought and probably reflects fundamental neural circuit mechanisms. This type of bidirectional interface might allow in the future more precisely displacing robotic arms, feeling touched objects or perceiving the necessary force to grasp them. At present, the neuroscientists at UNIGE are examining how to produce a more efficient sensory feedback. They are currently capable of doing it for a single movement, but is it also possible to provide multiple feedback channels in parallel? This research sets the groundwork for developing a new generation of more precise, bidirectional neural prostheses. By resorting to modern imaging tools, hundreds of neurons in the surrounding area could also be observed as the mouse learned the neuroprosthetic task. "We know that millions of neural connections exist. However, we discovered that the animal activated only the one neuron chosen for controlling the prosthetic action, and did not recruit any of the neighbouring neurons", adds Daniel Huber. "This is a very interesting finding since it reveals that the brain can home in on and specifically control the activity of just one single neuron". Researchers can potentially exploit this knowledge to not only develop more stable and precise decoding techniques, but also gain a better understanding of most basic neural circuit functions. It remains to be discovered what mechanisms are involved in routing signals to the uniquely activated neuron.


News Article | March 1, 2017
Site: www.rdmag.com

Since the early seventies, scientists have been developing brain-machine interfaces; the main application being the use of neural prosthesis in paralyzed patients or amputees. A prosthetic limb directly controlled by brain activity can partially recover the lost motor function. This is achieved by decoding neuronal activity recorded with electrodes and translating it into robotic movements. Such systems however have limited precision due to the absence of sensory feedback from the artificial limb. Neuroscientists at the University of Geneva (UNIGE), Switzerland, asked whether it was possible to transmit this missing sensation back to the brain by stimulating neural activity in the cortex. They discovered that not only was it possible to create an artificial sensation of neuroprosthetic movements, but that the underlying learning process occurs very rapidly. These findings, published in the scientific journal Neuron, were obtained by resorting to modern imaging and optical stimulation tools, offering an innovative alternative to the classical electrode approach. Motor function is at the heart of all behavior and allows us to interact with the world. Therefore, replacing a lost limb with a robotic prosthesis is the subject of much research, yet successful outcomes are rare. Why is that? Until this moment, brain-machine interfaces are operated by relying largely on visual perception: the robotic arm is controlled by looking at it. The direct flow of information between the brain and the machine remains thus unidirectional. However, movement perception is not only based on vision but mostly on proprioception, the sensation of where the limb is located in space. “We have therefore asked whether it was possible to establish a bidirectional communication in a brain-machine interface: to simultaneously read out neural activity, translate it into prosthetic movement and reinject sensory feedback of this movement back in the brain”, explains Daniel Huber, professor in the Department of Basic Neurosciences of the Faculty of Medicine at UNIGE. In contrast to invasive approaches using electrodes, Daniel Huber’s team specializes in optical techniques for imaging and stimulating brain activity. Using a method called two-photon microscopy, they routinely measure the activity of hundreds of neurons with single cell resolution. “We wanted to test whether mice could learn to control a neural prosthesis by relying uniquely on an artificial sensory feedback signal”, explains Mario Prsa, researcher at UNIGE and the first author of the study. “We imaged neural activity in the motor cortex. When the mouse activated a specific neuron, the one chosen for neuroprosthetic control, we simultaneously applied stimulation proportional to this activity to the sensory cortex using blue light”. Indeed, neurons of the sensory cortex were rendered photosensitive to this light, allowing them to be activated by a series of optical flashes and thus integrate the artificial sensory feedback signal. The mouse was rewarded upon every above-threshold activation, and 20 minutes later, once the association learned, the rodent was able to more frequently generate the correct neuronal activity. This means that the artificial sensation was not only perceived, but that it was successfully integrated as a feedback of the prosthetic movement. In this manner, the brain-machine interface functions bidirectionally. The Geneva researchers think that the reason why this fabricated sensation is so rapidly assimilated is because it most likely taps into very basic brain functions. Feeling the position of our limbs occurs automatically, without much thought and probably reflects fundamental neural circuit mechanisms. This type of bidirectional interface might allow in the future more precisely displacing robotic arms, feeling touched objects or perceiving the necessary force to grasp them. At present, the neuroscientists at UNIGE are examining how to produce a more efficient sensory feedback. They are currently capable of doing it for a single movement, but is it also possible to provide multiple feedback channels in parallel? This research sets the groundwork for developing a new generation of more precise, bidirectional neural prostheses. Towards better understanding the neural mechanisms of neuroprosthetic control By resorting to modern imaging tools, hundreds of neurons in the surrounding area could also be observed as the mouse learned the neuroprosthetic task. “We know that millions of neural connections exist. However, we discovered that the animal activated only the one neuron chosen for controlling the prosthetic action, and did not recruit any of the neighbouring neurons”, adds Daniel Huber. “This is a very interesting finding since it reveals that the brain can home in on and specifically control the activity of just one single neuron”. Researchers can potentially exploit this knowledge to not only develop more stable and precise decoding techniques, but also gain a better understanding of most basic neural circuit functions. It remains to be discovered what mechanisms are involved in routing signals to the uniquely activated neuron.


Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven pharmaceutical group, today announced financial results for the full year 2016. Commenting on the 2016 full year performance, David Meek, Chief Executive Officer of Ipsen, said: “The strong operating performance in 2016 serves as a solid foundation for the company in this new era of accelerated momentum and transformation. Sales grew by nearly 12% year-on-year, a record high for Ipsen, and core operating margin improved despite additional investments for the Cabometyx® launch in Europe.” David Meek added: “2016 was a very productive year for Ipsen with the Cabometyx® approval and launch for second line renal cell carcinoma in Europe, the launch of new indications for Dysport® in the U.S., a new corporate governance structure implemented, and most recently, the acquisition of Onivyde®, which reinforces our specialty oncology strategy. The focus for 2017 will be on building upon the strong momentum of the current business and the successful launch of Cabometyx®, which combined with the expected addition of Onivyde® and the new Primary Care products, will significantly contribute to the growth and profitability of the company in the coming years.” New definition of Core Financial Measures Ipsen has updated its definition of Core financial measures (Core Operating income, Core consolidated net profit, Core EPS) to exclude the amortization of intangible assets (excluding software) and the gain or loss on disposal of fixed assets. Core financial measures are the key performance indicators for understanding and measuring the performance of the Group. Ipsen believes that the updated financial indicators reflect with better clarity the Group’s underlying business trends and enable more meaningful comparisons year on year, as they exclude non-core items which may vary significantly. These performance indicators do not replace IFRS indicators, and should not be relied upon as such. Reconciliations between IFRS 2015/2016 results and the newly defined Core financial measures are presented in Appendix 4 and in the “Reconciliation from Core consolidated net profit to IFRS consolidated net profit” table on page 12. Note: Unless stated otherwise, all variations in sales are stated excluding foreign exchange impacts. Specialty Care sales reached €1,273.0 million, up 16.1%, driven by the strong growth of Somatuline® in North America, as well as a solid performance throughout Europe. Dysport® good sales performance in aesthetics in the U.S. through Galderma, and in Russia and the Middle East was offset by importation issues in Brazil that occurred in the second half of the year due to a temporary cancellation of the certificate of Good Manufacturing Practices (cGMP). Decapeptyl® sales reflect good volume growth in Europe and China offset by price pressure in the region. The Group booked during the fourth quarter the first sales of Cabometyx® in Europe, mainly in Germany, Austria and France following the product approval by EMA in September. Primary Care sales reached €311.6 million, down 2.7%, impacted by lower sales in Russia for Tanakan® and other Primary Care products, while Smecta® sales were slightly up driven by the implementation of the new OTx6 commercial model. Core Operating Income totaled €363.9 million, up 11.1%. Core operating margin reached 23.0%, up 0.3 points compared to 2015, mainly driven by strong business performance, partially offset by investments for the Cabometyx® launch and the adverse impact of foreign currencies. Core consolidated net profit was €263.6 million, up 12.8% over the period, compared to €233.8 million in 2015. Core earnings per share - fully diluted (see Appendix 4) grew by 13.0% year-on-year to reach €3.18 for 2016, compared to €2.82 in 2015. Free cash flow generated in 2016 reached €228.8 million, up by €52.5 million, driven by the strong operating performance and a good management of working capital and capital expenditures. Closing net cash reached €68.6 million at the end of the period, compared to €186.9 million in 2015, notably after payments to Exelixis for the original cabozantinib license and subsequent extension to Canada, as well as regulatory and commercial milestones, for a total of €257.3 million in 2016. IFRS Operating Income totaled €304.7 million, up 24.8% from €244.0 million in 2015, impacted by lower impairment charge, with an Operating margin at 19.2%, up 2.3 points compared to 2015. IFRS Consolidated net profit was €226.6 million, up 18.8% over the period, compared to €190.7 million in 2015 and fully diluted EPS at €2.73 in 2016, was up 18.7% from €2.30 in 2015. Comparison of 2016 performance with financial objectives The Group exceeded the raised guidance provided on 26 October 2016 for Specialty Care sales and Core operating margin and came in at the favorable end of revised guidance for Primary Care sales. The table below shows the comparison between the financial objectives provided on 26 October 2016 and 2016 actuals, both including the amortization of intangible assets. Below is a reconciliation of the Core Operating Income from the previous definition to the new reported definition: Dividend for the 2016 financial year proposed for the approval of Ipsen’s shareholders The Ipsen S.A. Board of Directors, which met on 22 February 2017, has decided to propose at the annual shareholders’ meeting on 7 June 2017 the payment of a dividend of €0.85 per share, stable year-on-year. The Group has set the following financial targets for 2017 assuming a successful closing of the Onivyde® transaction with Merrimack by the end of the first quarter 2017, and of the Consumer Healthcare transaction with Sanofi in the second quarter of 2017: Meeting, webcast and conference call for the press (in English) Ipsen will host a press conference on Thursday 23 February 2017 at 9:30 a.m. (Paris time, GMT +1) at Salons de l’hôtel des Arts et Métiers – 9 bis avenue d’Iéna – 75116 Paris (France). A conference call will take place and a web conference (audio and video webcast) will be available at www.ipsen.com. Participants should enter the call in approximately 5 to 10 minutes prior to its start. No reservation is required to participate in the conference call. A recording will be available for 7 days on Ipsen’s website and at the following numbers: France and continental Europe: +33 (0)1 70 99 35 29 UK: +44 (0)20 7031 4064 United States: +1 954 334 0342 Conference ID: 961391 Meeting, webcast and conference call (in English) for the financial community Ipsen will host an analyst meeting on Thursday 23 February 2017 at 2:30 p.m. (Paris time, GMT+1) at its headquarters in Boulogne-Billancourt (France). A conference call will take place and a web conference (audio and video webcast) will be available at www.ipsen.com. Participants should dial in to the call approximately 5 to 10 minutes prior to its start. No reservation is required to participate in the conference call. A recording will be available for 7 days on Ipsen’s website and at the following numbers: France and continental Europe: +33 (0)1 70 99 35 29 UK: +44 (0)20 7031 4064 United States: +1 954 334 0342 Conference ID: 961277 Ipsen is a global specialty-driven pharmaceutical group with total sales close to €1.6 billion in 2016. Ipsen sells more than 20 drugs in more than 115 countries, with a direct commercial presence in more than 30 countries. Ipsen’s ambition is to become a leader in specialty healthcare solutions for targeted debilitating diseases. Its fields of expertise cover oncology, neurosciences and endocrinology (adult & pediatric). Ipsen’s commitment to oncology is exemplified through its growing portfolio of key therapies improving the care of patients suffering from prostate cancer, neuro-endocrine tumors, renal cell carcinoma and pancreatic cancer. Ipsen also has a significant presence in primary care. Moreover, the Group has an active policy of partnerships. Ipsen's R&D is focused on its innovative and differentiated technological platforms, peptides and toxins, located in the heart of the leading biotechnological and life sciences hubs (Les Ulis/Paris-Saclay, France; Slough/Oxford, UK; Cambridge, US). In 2016, R&D expenditures exceeded €200 million. The Group has more than 4,900 employees worldwide. Ipsen’s shares are traded on segment A of Euronext Paris (stock code: IPN, ISIN code: FR0010259150) and are eligible to the “Service de Règlement Différé” (“SRD”). The Group is part of the SBF 120 index. Ipsen has implemented a Sponsored Level I American Depositary Receipt (ADR) program, which trades on the over-the-counter market in the United States under the symbol IPSEY. For more information on Ipsen, visit www.ipsen.com. The forward-looking statements, objectives and targets contained herein are based on the Group’s management strategy, current views and assumptions. Such statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated herein. All of the above risks could affect the Group’s future ability to achieve its financial targets, which were set assuming reasonable macroeconomic conditions based on the information available today. Use of the words "believes," "anticipates" and "expects" and similar expressions are intended to identify forward-looking statements, including the Group’s expectations regarding future events, including regulatory filings and determinations. Moreover, the targets described in this document were prepared without taking into account external growth assumptions and potential future acquisitions, which may alter these parameters. These objectives are based on data and assumptions regarded as reasonable by the Group. These targets depend on conditions or facts likely to happen in the future, and not exclusively on historical data. Actual results may depart significantly from these targets given the occurrence of certain risks and uncertainties, notably the fact that a promising product in early development phase or clinical trial may end up never being launched on the market or reaching its commercial targets, notably for regulatory or competition reasons. The Group must face or might face competition from generic products that might translate into a loss of market share. Furthermore, the Research and Development process involves several stages each of which involves the substantial risk that the Group may fail to achieve its objectives and be forced to abandon its efforts with regards to a product in which it has invested significant sums. Therefore, the Group cannot be certain that favorable results obtained during pre-clinical trials will be confirmed subsequently during clinical trials, or that the results of clinical trials will be sufficient to demonstrate the safe and effective nature of the product concerned. There can be no guarantees a product will receive the necessary regulatory approvals or that the product will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Other risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the Group's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Group’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. The Group also depends on third parties to develop and market some of its products which could potentially generate substantial royalties; these partners could behave in such ways which could cause damage to the Group’s activities and financial results. The Group cannot be certain that its partners will fulfil their obligations. It might be unable to obtain any benefit from those agreements. A default by any of the Group’s partners could generate lower revenues than expected. Such situations could have a negative impact on the Group’s business, financial position or performance. The Group expressly disclaims any obligation or undertaking to update or revise any forward looking statements, targets or estimates contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law. The Group’s business is subject to the risk factors outlined in its registration documents filed with the French Autorité des Marchés Financiers. The risks and uncertainties set out are not exhaustive and the reader is advised to refer to the Group’s 2015 Registration Document available on its website (www.ipsen.com). Comparison of Consolidated Sales for the Fourth Quarter and Full Year 2016 and 2015: Sales by therapeutic area and by product9 Note: Unless stated otherwise, all variations in sales are stated excluding foreign exchange impacts. The following table shows sales by therapeutic area and by product for the fourth quarter and full year 2016 and 2015: In the fourth quarter of 2016, sales reached €430.2 million, up 15.5%, led by the 17.8% growth of Specialty Care sales, while Primary Care sales grew by 7.6%. In 2016, sales amounted to €1,584.6 million, up 11.8%, driven by the 16.1% growth of Specialty Care sales, while Primary Care sales declined by 2.7%. In the fourth quarter of 2016, sales of Specialty Care products of €339.8 million, were up 17.8% year-on-year driven by Oncology sales growth of 27.0%. In 2016, sales of Specialty Care products of €1,273.0 million, were up 16.1% fueled by Oncology sales growth of 22.1%, Neurosciences sales growth of 4.3%, and Endocrinology sales growth of 1.7%. Over the period, the relative weight of Specialty Care continued to increase to reach 80.3% of Group sales, compared to 77.2% in 2015. In Oncology, sales reached €247.3 million in the fourth quarter of 2016, up 27.0% year-on-year, driven by the continued growth of Somatuline® in the United States and in Europe. In 2016, Oncology sales amounted to €904.8 million, up 22.1% and represented 57.0% of total Group sales, compared to 52.1% in 2015. Somatuline® – In the fourth quarter of 2016, sales reached €146.5 million, up 34.1%. In 2016, sales amounted to €538.3 million, up 35.5%. Somatuline®’s improved performance was driven by strong volumeand market share growth in North America and by a strong performance in most European countries, notably in the United Kingdom, France and Germany. Decapeptyl® – In the fourth quarter of 2016, sales totaled €88.0 million, up 8.5% year-on-year. In 2016, sales amounted to €339.8 million, up 4.2%. Decapeptyl®’s good performance across Europe, notably in France, Spain and UK was negatively impacted by price pressure in China which offset local volume growth. Cabometyx® – In the fourth quarter of 2016, sales reached €8.3 million, including sales recognized in France under the Cabometyx® Managed Access Program (ATU or Temporary Use Authorization). Other Oncology – In the fourth quarter of 2016, Hexvix® sales amounted to €4.5 million, up 6.6% year-on-year. In 2016, sales of Hexvix® reached €18.3 million, up 7.1%, mainly driven by the good performance in Germany, which accounts for the majority of product sales. The Group also registered first sales of Cometriq® of €1.2 million in the fourth quarter 2016. In Neurosciences, sales of Dysport® reached €71.2 million in the fourth quarter of 2016, down 1.6% year-on-year. Despite strong volume growth in the aesthetics business in North America with Galderma, and in Russia and the Middle East, sales were negatively impacted by importation issues in Brazil due to a temporary cancellation of the certificate of Good Manufacturing Practices (cGMP). An exceptional import license has been secured for the public market. For the private market, Ipsen is working closely with regulatory authorities on obtaining an exceptional import license. The company expects a new GMP certificate to be issued in the coming months. In 2016, sales amounted to €284.7 million, up 4.0%, driven by the good performance in Russia, the Middle East and in Germany as well as by the strong aesthetics business in North America and in Europe with Ipsen’s partner Galderma and despite the negative impact of importation issues in Brazil that arose in the second half of 2016. Over the period, Neurosciences sales represented 18.1% of total Group sales, compared to 19.4% in 2015. In Endocrinology, sales of NutropinAq® reached €14.0 million in the fourth quarter of 2016, down 3.8% year-on-year. In 2016, sales amounted to €57.7 million, down 3.5%, impacted by lower volumes, especially in Germany, Italy and the UK, and partly offset by a good performance in France. In the fourth quarter of 2016, sales of Increlex® reached €6.5 million, up 1.5% year-on-year, mostly driven by the United States. In 2016, sales amounted to €23.7 million, up 16.9%. Over the period, Endocrinology sales represented 5.1% of total Group sales, compared to 5.6% in 2015. In the fourth quarter of 2016, Primary Care sales reached €90.4 million, up 7.6% year-on-year, driven by the good performance of Smecta® and Etiasa®. In 2016, sales amounted to €311.6 million, down 2.7%, impacted by lower Tanakan® sales in Russia. Over the period, Primary Care sales represented 19.6% of total Group sales, compared to 22.8% in 2015. In the fourth quarter of 2016, Gastroenterology sales reached €63.7 million, up 9.6% year-on-year led by Smecta®. In 2016, sales amounted to €219.1 million, in line with 2015, driven by higher Smecta® sales in Russia and France but offset by negative inventory trends in Asia and the delisting of Bedelix® in Algeria. Smecta® – In the fourth quarter of 2016, sales reached €31.6 million, up 25.5% year-on-year, driven by a favorable basis of comparison in China. In 2016, sales amounted to €111.0 million, up 0.6% with a good performance in Russia and France, driven by the implementation of the OTC commercial model, and slightly offset by the negative stocking impact in China. Etiasa® – In the fourth quarter of 2016, sales reached €11.5 million up 38.6% year-on-year. In 2016, sales amounted to €29.3 million, up 19.5%. Forlax® – In the fourth quarter of 2016, sales reached €10.2 million, down 4.9% year-on-year. In 2016, sales amounted to €39.3 million, up 0.5%, supported by a good performance in France, Russia and China, as well as by Ipsen’s partners who distribute Macrogol®, the generic version of Forlax®, and offset by the sales decline in Algeria and in Italy. Fortrans® – In the fourth quarter of 2016, sales reached €7.3 million, down 0.4% year-on-year. In 2016, sales amounted to €23.2 million, up 2.7% due to the good performance in China. In the Cognitive Disorders area, sales of Tanakan® reached €15.8 million in the fourth quarter of 2016, up 7.1% year-on-year, driven by a rebound in Russia. Sales in 2016 amounted to €43.6 million, down 14.3%, impacted by continued market challenges in Russia and the market decrease in France. Sales of Other Primary Care products reached €5.4 million in the fourth quarter of 2016, up 8.3% year-on-year. In 2016, sales amounted to €23.5 million, down 10.0%, mainly affected by the underperformance of Adrovance®, which was down 15.5% over the period. In the fourth quarter of 2016, Drug-related Sales (active ingredients and raw materials) reached €5.4 million, down 11.6% year-on-year, mostly affected by import difficulties in Algeria. In 2016, sales amounted to €25.5 million, up 4.9% driven by solid sales to the Group partner Schwabe. Group sales by geographical area in the fourth quarter and full year 2016 and 2015: In the fourth quarter of 2016, sales in the Major Western European countries reached €148.6 million, up 8.6% year-on-year. In 2016, sales in the Major Western European countries amounted to €571.9 million, up 6.9%. Over the period, sales in the Major Western European countries represented 36.1% of total Group sales, compared to 37.7% in the previous year. France – In the fourth quarter of 2016, sales reached €61.5 million, up 14.1% year-on-year, driven by the first sales of Cabometyx®. In 2016, sales amounted to €225.5 million, up 6.2%, driven by the sustained growth of Somatuline® and Decapeptyl®, as well as the first sales of Cabometyx® in the fourth quarter. Primary Care sales were stable over the year with a good performance of Smecta®, offset by the decrease of Tanakan®, Adrovance®, and Nisis®/Nisisco®. The relative weight of France in the Group’s consolidated sales has continued to decrease to represent 14.2% of total Group sales, compared to 14.7% in the previous year. Germany – In the fourth quarter of 2016, sales reached €31.6 million, up 5.4% year-on-year. In 2016, sales amounted to €123.2 million, up 11.7%, driven by strong growth of Somatuline® and Dysport® as well as the commercial launch of Cabometyx® and Cometriq® in November. Over the period, sales in Germany represented 7.8% of total Group sales, compared to 7.6% in the previous year. Italy – In the fourth quarter of 2016, sales reached €18.8 million, down 3.4% year-on-year. In 2016, sales amounted to €81.2 million, up 2.2%. The solid growth of Somatuline® was partly offset by the sales decline of Dysport® and NutropinAq®. Over the period, sales in Italy represented 5.1% of total Group sales, compared to 5.5% in the previous year. United Kingdom – In the fourth quarter of 2016, sales reached €18.2 million, up 12.6% year-on-year. In 2016, sales amounted to €72.8 million, up 8.2%, driven by Somatuline® and Decapeptyl®. Over the period, the United Kingdom represented 4.6% of total Group sales, compared to 5.3% in the previous year. Spain – In the fourth quarter of 2016, sales reached €18.5 million, up 6.0% year-on-year. In 2016, sales amounted to €69.2 million, up 5.5%, driven by strong volume growth of Decapeptyl® and Somatuline®. Over the period, sales in Spain represented 4.4% of total Group sales, compared to 4.5% in the previous year. In the fourth quarter of 2016, sales in Other European countries reached €97.7 million, up 21.0% year-on-year, driven by the launch of Cabometyx® in Austria and the good performance of Dysport® in Russia. In 2016, sales amounted to €349.2 million, up 11.5%, supported by the strong performance of Somatuline® across the region as well as Dysport® and Decapeptyl®, notably in Russia and Ukraine, partly offset by the Tanakan® slowdown in Russia. Over the period, sales in the region represented 22.0% of total Group sales compared to 22.3% in the previous year. In the fourth quarter of 2016, sales generated in North America reached €83.3 million, up 69.4% year-on-year. In 2016, sales amounted to €273.0 million, up 72.5%, supported by the growth of Somatuline® and the growth of Dysport® mainly driven by the strong growth in aesthetics through the Galderma partnership. Over the period, sales in North America represented 17.2% of total Group sales, compared to 10.9% in the previous year. In the fourth quarter of 2016, sales in the Rest of the World reached €100.5 million, down 3.9% year-on-year mainly impacted by Dysport® in Brazil. In 2016, sales amounted to €390.5 million, down 4.4%. Sales were impacted by importation issues in Brazil which negatively impacted Dysport®, as well as the delisting of Bedelix® in Algeria. Over the period, sales in the Rest of the World represented 24.6% of total Group sales, compared to 29.1% in the previous year. Comparison of Core consolidated income statement for 2016 and 2015 Core financial measures are performance indicators. Reconciliation between these indicators and IFRS headings is presented in Appendix 4 “Bridges from IFRS consolidated net profit to Core consolidated net profit”. In 2016, the Group's consolidated sales came to €1,584.6 million, up 9.7% year-on-year, and up 11.8% excluding the impact of foreign exchange. Other revenues for the financial year 2016 totaled €86.5 million, up 13.4% versus €76.3 million generated in 2015. This change was attributable to higher royalties received from Group partners (mainly Galderma for Dysport® and Menarini for Adenuric®), the new distribution model for Etiasa® in China, partially offset by the recognition in 2015 of an upfront payment of €3.4 million received from the sale of Ginkor Fort® licensing rights to Tonipharm. In 2016, cost of goods sold amounted to €353.3 million, representing 22.3% of sales compared to €336.8 million, or 23.3% of sales in 2015. The improvement in cost of goods sold as a percentage of sales was primarily due to a favorable product mix arising from the growth of the Specialty Care business associated with productivity efforts deployed at manufacturing sites. In 2016, selling expenses came to €608.4 million, representing 38.4% of sales, up 12.4% versus 2015. The increase reflected the investments to support Cabometyx®’s launch in Europe as well as commercial efforts deployed to support Somatuline®'s growth and to launch Dysport® in spasticity indications in the United States. For the financial year 2016, research and development expenses totaled €208.9 million, compared with €192.1 million in the same period in 2015. Main expenditures were committed to continue managing the lifecycle of Dysport® and Somatuline® as well as developing new oncology programs based on peptide receptor radionuclide therapy. In 2016, the research tax credit amounted to €29.6 million, up €1.5 million versus 2015. In 2016, general and administrative expenses came to €129.4 million, compared to €122.9 million in 2015. This increase resulted primarily from some limited additional support functions costs in accordance with sales growth priorities and the impact of the Group's outperformance on bonus pay. In 2016, other core operating expenses totaled €7.1 million, compared with other core operating income of €0.7 million in 2015. This evolution is mainly due to the impact of the currency hedging policy. Core Operating Income in 2016 came to €363.9 million, representing 23.0% of sales, compared with €327.7 million in Core Operating Income in 2015, representing 22.7% of sales. The continued good performance of Somatuline® in the United States and Europe, along with the strengthening partnership with Galderma, enabled the Group to intensify its commercial investments, notably to support the launch of Cabometyx® in Europe, while maintaining its profitability. The growth of the Core Operating Income between December 2015 and December 2016 reached 11.1%. In 2016, the Group had net financial expense of €14.3 million, versus net financial expense of €11.3 million in 2015. In 2016, core income tax expense of €88.0 million resulted from a core effective tax rate of 25.2% on pre-tax profit. That compares with a core effective rate of 26.9% in 2015. For the year ended 31 December 2016, Core consolidated net profit increased by 12.8% to €263.6 million, with €262.9 million attributable to Ipsen S.A. shareholders. This compares to consolidated net profit of €233.8 million, with €232.9 million attributable to Ipsen S.A. shareholders in 2015. In 2016, Core EPS fully diluted (see Appendix 4) came to €3.18, up 13.0% versus €2.82 per share in 2015. From Core financial measures to IFRS reported figures Reconciliations between IFRS 2015/2016 results and the newly defined Core financial measures are presented in Appendix 4. In 2016, the main reconciling items between Core consolidated net income and IFRS consolidated net income were: Amortization of intangible assets (excluding software) for 2016 amounted to €7.7 million before tax, compared with €4.7 million before tax in 2015. This variance consisted mainly of the amortization of the cabozantinib intangible assets starting with the first sales of the product. Other operating expenses for 2016 amounted to €6.8 million before tax and consisted mainly of the costs from the change in the Group’s corporate governance and the costs from the move to the new UK research and development site in Oxford. In 2015, those expenses totaled €7.2 million before tax. They corresponded mainly to the amount booked following the discontinuation of the tasquinimod studies for prostate cancer. In 2016, restructuring costs came to €1.9 million before tax, compared with €6.7 million before tax in 2015. In 2016, Ipsen recorded a €42.9 million impairment charge (before tax) on intangible assets related to OctreoPharm for €28.9 million (delayed development), to MCNA for €8.0 million (after the termination of the Telesta Therapeutics partnership), and to Canbex Therapeutics for €5.4 million (purchase option). In 2015, the Group recorded a €57.0 million loss before tax to impair all intangible assets related to the tasquinimod program, and a €7.6 million impairment loss before tax, resulting from the full write-down of an Ipsen BioInnovation Ltd. intangible asset. In 2016, Ipsen received €5.3 million of dividends from Rhythm Holding and €2.4 million of dividends from InnoBio fund as well as Spirogen earn-out payment, while in 2015 the Group received a €4.9 million final earn-out from the sale of PregLem shares. In 2016, Operating Income totaled €304.7 million, up 24.8% from €244.0 million in 2015, impacted by a lower impairment charge, with an Operating margin at 19.2%, up 2.3 points compared to 2015. Consolidated net profit was €226.6 million, up 18.8% over the period, compared to €190.7 million in 2015. Fully diluted EPS was €2.73 in 2016, up 18.7% from €2.30 in 2015. Segment information is presented according to the Group's two operating segments: Specialty Care and Primary Care. All costs allocated to these two segments are presented in the key performance indicators. Only corporate overhead costs and the impact of the currency hedging policy are not allocated to the two operating segments. Research and development costs are allocated to operating segments, while formerly included in Unallocated. The Group uses Core Operating Income to measure its segment performance and to allocate resources. Sales, revenue and Core Operating Income are presented by therapeutic area for the 2016 and 2015 financial years in the following table. In 2016, Specialty Care sales grew to €1,273.0 million, up 14.2% over 2015, driven by oncology sales that advanced 20.2% at current rates. The relative weight of Specialty Care products continued to increase, reaching 80.3% of total consolidated sales at 31 December 2016, versus 77.2% a year earlier. In 2016, Core Operating Income for Specialty Care amounted to €415.0 million, including research and development costs, representing 32.6% of sales. That result compared to €328.9 million in 2015, representing 29.5% of sales. The improvement reflected Somatuline®'s continued sales growth in the United States and Europe, along with increased commercial investments, notably in the United States for Somatuline® and in Europe to support the Cabometyx® launch. In 2016, sales of Primary Care products came to €311.6 million, down 5.5% year on year, mainly related to continued market challenges in Russia for Tanakan® and lower other Primary Care sales. In 2016, Core Operating Income for Primary Care amounted to €99.6 million, representing 32.0% of sales. In 2016, unallocated Core Operating Income came to a negative €150.7 million, compared with a negative €127.9 million in 2015. These expenses consisted mainly of unallocated corporate expenses and of the impact from the currency hedging policy. In 2016, the Group had a decrease in net cash of €118.4 million, bringing closing net cash to €68.6 million. In 2016, Operating Cash Flow totaled €307.1 million, up €64.0 million versus 31 December 2015. The increase was driven by higher Core Operating Income and by the improvement in working capital requirement partially offset by higher net capital expenditures (excluding milestones paid). The working capital requirement for operating activities increased by €2.8 million at 31 December 2016, compared with an increase of €53.2 million at 31 December 2015. The change at 31 December 2016 stemmed mainly from the following: In 2016, other working capital requirement decreased by €12.1 million, compared with a €7.4 million increase in 2015, mainly due to the reimbursement in 2016 of French R&D tax credit amounts. Net capital expenditure grew by €27.4 million year-on-year to €84.0 million at 31 December 2016. In 2016, these investments included projects in the Group’s manufacturing sites in Ireland and in France to increase production capacity, as well as in the new R&D toxin center in the UK. In 2016, Free Cash Flow came to €228.8 million, up €52.5 million versus 31 December 2015. This evolution was mainly driven by the Operating Cash Flow improvement. Other operating income and expenses and restructuring costs amounted to €20.8 million including the impact of the change in the Group’s corporate governance, as well as payments for earlier restructuring plans. At the end of December 2015, €28.9 million of such payments were primarily comprised of restructuring costs and expenses arising from discontinuing clinical trials of tasquinimod. The €3.1 million in financial income paid at the end of December 2016 resulted mainly from hedging costs and realized exchange losses, partially offset by the collection of dividends on Rhythm Holding participation, as well as by an earnout payment related to the sale of Spirogen shares and dividends from Innobio Fund. In comparison, the €4.7 million in financial expense, at the end of December 2015, were derived from a €4.9 million earnout payment from the PregLem shares that was partially offset by an unfavorable foreign exchange effect. The change in current income tax stemmed from the change in the effective tax rate. At 31 December 2016, the dividend payout to Ipsen S.A. shareholders amounted to €70.0 million. Net investments at 31 December 2016 mainly encompassed a €257 million upfront and milestones payment to Exelixis, following the signature of an exclusive licensing agreement to commercialize and develop cabozantinib, a €5 million upfront payment to 3B Pharmaceuticals GmbH, following the signature of an exclusive licensing agreement for new radiopharmaceutical products in oncology and a €5 million milestone paid in relation with the Lexicon license agreement. These amounts are partially offset by regulatory milestone payments received from Acadia (€7 million) and Radius (€3 million) and by scheduled payments related to the agreement signed with Galderma in December 2015 for Asia-Pacific markets (collection of a net €6 million). At 31 December 2015, net investments primarily included the €31.4 million acquisition of OctreoPharm Sciences GmbH and the purchase of a €6.0 million call option to acquire Canbex Therapeutics. Reconciliation of cash and cash equivalents and net cash (*) Net cash / (debt): cash and cash equivalents, less bank overdrafts, bank loans and other financial liabilities and excluding financial derivative instruments. (**) Financial liabilities mainly exclude €18.2 million in derivative instruments in 2016, compared with €4.5 million in derivative instruments in 2015. On 16 June 2016, Ipsen S.A. issued a €300 million unsecured seven-year public bond loan with an annual interest rate of 1.875%. In addition, €300 million of bilateral long term bank loans were contracted with a maximum maturity of 6.5 years from June 2016. At 31 December 2016, none of these bank loans had been tapped. On 24 June 2016, Ipsen S.A. amended its multiple-currency Revolving Credit Facility to reduce it to €300 million and to remove its financial covenants. This credit line remained undrawn at 31 December 2016. Ipsen S.A. has also a €300 million short term commercial paper program of which €30 million were issued at 31 December 2016. (a) Milestones paid correspond to payments subject to the terms and conditions set out in the Group's partnership agreements. The €257.3 million in upfront and milestones paid to Exelixis accounted for the majority of the milestones paid at 31 December 2016. The amounts paid were recorded as an increase in intangible assets on the consolidated balance sheet. The transactions were included in the "Acquisition of intangible assets" line item in the consolidated statement of cash flow (see Appendix 3.1). (b) Milestones received are amounts collected by Ipsen from its partners. Of the €20.7 million in milestones received at 31 December 2016, €10.5 million were paid by Galderma in accordance with the partnership agreement signed in December 2015 for the Asia Pacific region. The amounts were recorded as deferred income in the consolidated balance sheet and then recognized in the income statement as "Other revenues". Milestones received were included in the "Net change in other operating assets and liabilities" line item in the consolidated statement of cash flow (see Appendix 3.1). The reconciliation items between Core consolidated net profit and IFRS consolidated net profit are described in the paragraph “From Core financial measures to IFRS reported figures”. The Group operates in an environment which is undergoing rapid change and exposes its operations to a number of risks, some of which are outside its control. The risks and uncertainties set out below are not exhaustive and the reader is advised to refer to the Group’s 2015 Registration Document available on its website (www.ipsen.com). 1 Year-on-year growth excluding foreign exchange impacts 2 Excludes amortization of intangible assets (excluding software), gain or loss on disposal of fixed assets, restructuring costs, impairment losses and other non-core items 3 Reconciliation between this new definition of Core Operating Income and the previous definition is presented on page 3 4 Bridges from IFRS consolidated net profit to Core consolidated net profit are presented in appendix 4 5 Cash and cash equivalents, less bank overdrafts, bank loans and other financial liabilities and excluding financial derivative instruments 6 OTx: Combination of prescription and over-the-counter 7 2016 revised financial objectives communicated on 26 October 2016 8 Year-on-year growth excluding foreign exchange impacts 9 New sales reporting according to main therapeutic indication of each product


News Article | February 21, 2017
Site: www.eurekalert.org

Philadelphia, PA, February 21, 2017 - In the Biological Psychiatry special issue "Neuroimmune Mechanisms in Autism Spectrum Disorder", guest editor Professor Kimberley McAllister of the University of California, Davis, presents five reviews and three original research articles highlighting advances that are transforming the field of autism spectrum disorder (ASD) research. "ASD is the most rapidly increasing neurodevelopmental disorder and current estimates are alarming," said Dr. McAllister. One in 68 children and 1 in 42 boys in the US are estimated to be on the spectrum. Few treatment options exist, and the search for effective new therapies has been hindered by a struggle to understand what causes ASD. "One of the most exciting recent hypotheses in the field is that immune dysregulation contributes to, and may cause, ASD," Dr. McAllister added. The special issue reports on both environmental factors and genetic mutations that converge on immune dysfunction. To better understand the neurodevelopmental trajectory and role of immune function in ASD, new clinical studies detail the timing of immunologic disturbances in children with ASD and the relationship between immune system activation and severity of impairments. Inflammation may also help explain why ASD affects boys 4 to 5 times more than girls. A review highlighting the importance of the immune system in the normal development of males proposes how the process of masculinization makes boys more vulnerable to the effects of inflammation. Children with ASD often suffer from gastrointestinal issues, and two reviews highlight recent research on the environmental and genetic links that may bridge immune dysfunction, the gut microbiome, and impairments in brain development associated with ASD. Recent research has also implicated the maternal immune system during pregnancy on risk of ASD in children. Two new reviews in the issue collate research in humans and animal models that link alterations in the maternal immune system, whether through genetic autoimmune disorders or through immune system activation in response to infection, with impaired brain development observed in ASD. "Research in this new area of neuroimmunology provides real hope that new therapies directed at preventing and/or correcting immune dysregulation in ASD could improve the lives of millions of Americans," Dr. McAllister concluded. Therapies targeting the immune system may also have benefits beyond ASD, as indicated by a new study linking maternal immune dysfunction with an increased risk of attention-deficit/hyperactivity disorder. The findings suggest that correcting immune dysfunction may have potential for preventing a range of psychiatric diseases. The special issue is "Neuroimmune Mechanisms in Autism Spectrum Disorder," Biological Psychiatry, volume 81, issue 5 (2017), published by Elsevier. Copies of this paper included in the special issue are available to credentialed journalists upon request; please contact Elsevier's Newsroom at newsroom@elsevier.com or +31 20 485 2492. Biological Psychiatry is the official journal of the Society of Biological Psychiatry, whose purpose is to promote excellence in scientific research and education in fields that investigate the nature, causes, mechanisms and treatments of disorders of thought, emotion, or behavior. In accord with this mission, this peer-reviewed, rapid-publication, international journal publishes both basic and clinical contributions from all disciplines and research areas relevant to the pathophysiology and treatment of major psychiatric disorders. The journal publishes novel results of original research which represent an important new lead or significant impact on the field, particularly those addressing genetic and environmental risk factors, neural circuitry and neurochemistry, and important new therapeutic approaches. Reviews and commentaries that focus on topics of current research and interest are also encouraged. Biological Psychiatry is one of the most selective and highly cited journals in the field of psychiatric neuroscience. It is ranked 5th out of 140 Psychiatry titles and 11th out of 256 Neurosciences titles in the Journal Citations Reports® published by Thomson Reuters. The 2015 Impact Factor score for Biological Psychiatry is 11.212. Elsevier is a world-leading provider of information solutions that enhance the performance of science, health, and technology professionals, empowering them to make better decisions, deliver better care, and sometimes make groundbreaking discoveries that advance the boundaries of knowledge and human progress. Elsevier provides web-based, digital solutions -- among them ScienceDirect, Scopus, Research Intelligence and ClinicalKey -- and publishes over 2,500 journals, including The Lancet and Cell, and more than 35,000 book titles, including a number of iconic reference works. Elsevier is part of RELX Group, a world-leading provider of information and analytics for professional and business customers across industries. http://www.

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