GUANGZHOU, CHINA – Media OutReach Newswire – 4 December 2023 – The 17th Congress of the World Federation of Hainanese Associations was successfully launched in Guangzhou on 3rd December, gathering over 2,300 Hainanese compatriots from 32 countries and regions worldwide to jointly reminisce about their hometown ties, discuss common development, and seek for cooperation.

Video Link: https://www.youtube.com/watch?v=_vz5A-Zc-w0

Liu Xiaoming, the Governor of Hainan Province, expressed in his opening speech that for centuries, generations of Hainanese have crossed oceans, demonstrating daring, tenacity, and pioneering spirit. They have established splendid careers in their countries and regions of residence, earning widespread acclaim and respect. Overseas Hainanese have always been emotionally connected to China and their hometown, playing a unique role and making significant contributions in every phase of Hainan’s development and reform.

He said that currently, Hainan is aiming for the goal of island-wide customs closure by the end of 2025, accelerating the construction of both soft and hard infrastructure for this closure. By the end of this year, the basic hardware conditions for the closure will be in place, and all preparations are expected to be completed next year. Hainan is facing a once-in-a-millennium development opportunity. The construction of the Hainan Free Trade Port requires the participation of 3.9 million overseas Hainanese compatriots. He hopes that these overseas compatriots will continue to care for and support the construction and development of their hometown as they have always done.

Wang Ruijun, Member of the Standing Committee of the Guangdong Provincial Committee and Minister of the United Front Work Department of the Guangdong Provincial Committee, stated that with the deepening development of The Guangdong–Hong Kong–Macao Greater Bay Area and Hainan Free Trade Port, cooperation between Guangdong and Hainan provinces in trade, tourism, technology, culture, and other fields has been increasingly deepened. This collaboration fosters mutual promotion and win-win development prospects, which are becoming broader. He expects that including Hainanese compatriots abroad, the broader community will actively participate in the economic and social development of both provinces. Guangdong is willing to further strengthen communication and close cooperation with Hainan, injecting new momentum into both provinces’ joint efforts to achieve high-level openness and high-quality development.

The head of the relevant department of the Overseas Chinese Affairs Office of the State Council stated that the construction of the Hainan Free Trade Port is a new platform for China to share new opportunities with the world. This development will not only bring historic changes to the economic and social development of Hainan but also provide a broader space for cooperation, superior development conditions, and more diversified service guarantees for overseas Chinese, especially those of Hainanese origin. He looks forward to compatriots at home and abroad fully leveraging their unique advantage of integrating Chinese and foreign elements, building a bridge between China and the world, and actively participating in the grand endeavor of modernization in the Chinese style.

Since its inception in 1989 by the Singapore Hainan Hwee Kuan, The Congress of the World Federation of Hainanese Associations has held 17 sessions in 10 different countries and regions. This session is guided by the People’s Government of Hainan Province, supported by The United Front Work Department of CPC Hainan Provincial Committee and the United Front Work Department of the Guangdong Provincial Committee, and hosted by the Guangdong Hainan Sodality.

Hashtag: #HainanAssociationOfGuangdong

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Samyang Corporation's Eco-Friendly Transparent Flame-Retardant Polycarbonate, Proven Free of Per- and Polyfluoroalkyl Substances(PFAS)

CISION PR Newswire

Dec 4, 2023

SGS, a global inspection and testing company conducts tests for 74 types of per and polyfluoroalkyl substances Per- and polyfluoroalkyl substances, difficult to be biodegraded and accumulate in the body, cause diseases. Regulatory strengthening trend worldwide Eco-friendly material not using flame retardants. Achieves highest flame-retardant rating, superior chemical resistance and low temperature impact strength compared to standard PC

SEOUL, South Korea, Dec. 4, 2023 /PRNewswire/ — Samyang Corporation targets the global market with its eco-friendly and safety proven transparent flame-retardant polycarbonate material.

Samyang Corporation (CEO Kang Ho-sung) announced on the 4th that its self-developed eco-friendly transparent flame-retardant polycarbonate was tested and found to be free of harmful per- and polyfluoroalkyl substances (PFAS).

Per- and polyfluoroalkyl substances, artificial substances composed of carbon and fluorine, are widely used in electrical and electronic products, food packaging, cosmetics, textiles, and firefighting equipment due to their thermal stability and resistance to water and oil. Termed as "forever chemicals" due to their resistance to natural decomposition, they accumulate in the environment and human body, causing environmental pollution and health issues such as tumors, thyroid disruption, and hormonal imbalances.

Due to these hazards, the United States has already started regulating per- and polyfluoroalkyl substances, and the European Union is pushing for legislation to ban their use, including in harmful chemicals, with other countries also moving toward regulations restricting their use.

Samyang Corporation conducted tests for 74 types of per- and polyfluoroalkyl substances in this test. Key substances tested include △Perfluorooctanesulfonic acid (PFOS), which can cause chronic renal failure, and △Perfluorooctanoic acid (PFOA), known to increase the rate of birth defects and cause various severe diseases such as cancers and thyroid disorders. In addition, tests were conducted for Perfluorohexanesulfonic acid (PFHxS), Perfluoroalkyl carboxylic acids (PFCA), and various per- and polyfluoroalkyl substances, and the results showed no detection of these harmful substances.

SGS, a global inspection and testing company, conducted the detection test for per- and polyfluoroalkyl substances. Established in 1878, SGS operates 2,600 offices and laboratories worldwide, and is highly regarded for its inspection and verification reliability and compliance with international standards.

Samyang Corporation’s transparent flame-retardant polycarbonate is an eco-friendly material developed by changing the molecular bonding structure based on silicone polycarbonate (Si-PC), without adding halogen-based flame retardants like chlorine and bromine, which produce toxic gases when incinerated.

It overcomes the drawbacks of traditional flame-retardant polycarbonates with decreased transparency and impact strength, and its chemical resistance and low temperature impact strength are superior to regular polycarbonate. The flame-retardant quality is also exceptional, having obtained the highest rating of "V-0" in the UL 94 vertical burn test developed by "UL (Underwriters Laboratories)," a U.S. safety standards development and certification organization. V-0 is awarded only to plastics that self-extinguish within 10 seconds when ignited vertically.

Samyang Corporation plans to expand the use of this material in various industries requiring transparency and flame-retardancy, such as automotive and home appliance exteriors and interiors, sound barriers, and medical device parts, based on its capability to maintain mechanical properties at a similar level to regular polycarbonate even when processed into thin films of about 1 mm thick.

Samyang Corporation’s CEO Kang Ho-seong stated, "The recent environmental pollution and human health issues caused by per- and polyfluoroalkyl substances have become a global concern, leading countries to strengthen regulations on their use. Based on the results of per- and polyfluoroalkyl substance tests, we plan to accelerate the global expansion of transparent flame-retardant polycarbonate, while also leading in the development of eco-friendly and high-functionality materials."

Meanwhile, Samyang Group is accelerating their expansion into eco-friendly material business. Samyang Corporation last year developed the country’s first polycarbonate containing more than 90% of post-consumer recycled polycarbonate (PCR PC) material. Additionally, they have signed a supply contract with the fishing net recycling company NETSPA and are developing plastic products for automobile interiors and exteriors, electronic devices, and household goods using recycled plastic pellets from fishing nets, with commercialization on the horizon.

Samyang Innochem, a chemical subsidiary, has completed a production plant for the white bio material "Isosorbide" using corn, and Samyang Packaging is expanding its recycled plastic business, operating a recycling facility for 21,000 tons of PET chips.

■ Samyang Corporation AM (Advanced Materials) BU(Business Unit) Website
https://samyangep.com/en/index

Source : Samyang Corporation's Eco-Friendly Transparent Flame-Retardant Polycarbonate, Proven Free of Per- and Polyfluoroalkyl Substances(PFAS)

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Atlas Lithium Fully Funded to First Production in 2024

Corporate News Media OutReach

Dec 4, 2023

Hong Kong Baptist University-led research discovers new therapeutic target for irritable bowel syndrome

HIGHLIGHTS

Direct investment at a premium into Atlas Lithium and offtake agreements for Phase 1 of Atlas Lithium’s battery grade spodumene concentrate production have been executed with two top lithium chemical companies, Chengxin Lithium Group and Yahua Industrial Group, suppliers of lithium hydroxide to Tesla, BYD, and LG, among others. Goldman Sachs served as financial advisor to Atlas Lithium in these transactions.
Chengxin and Yahua have committed an aggregate of US$50 million to Atlas Lithium with US$10 million as equity at $29.77 per share (a 10% premium to recent VWAP) and US$40 million as non-dilutive prepayment in exchange for 80% of Atlas Lithium’s Phase 1 lithium concentrate production.
With these transactions, Atlas Lithium is fully funded for its estimated total CAPEX to first production of US$49.5 million.
The accelerated production timeline will be achieved by deploying modular DMS technology and contracting the initial crushing and mining operations with local third parties. The DMS plant for Phase 1 has already been designed and purchased; it is being constructed at an expert facility and will be air freighted into Brazil in 2024.
Phase 1 annualized production targets up to 150,000 tonnes per annum (“tpa”) of battery grade spodumene concentrate by Q4 2024, with the offtake agreements announced today comprising 120,000 tpa in total and with each party receiving 60,000 tpa. Atlas Lithium’s planned Phase 2 aims to increase capacity to 300,000 tpa by mid-2025. Phase 2 capacity remains uncommitted.
Atlas Lithium is well positioned to become one of the highest-quality, lowest-cost lithium producers in the world. DMS is an environmentally sustainable technology, and the Company’s project has strong support from the community where it operates.

Boca Raton, Florida – Newsfile Corp. – December 4, 2023 – Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading lithium exploration and development company, is pleased to announce full funding for its early revenue strategy designed to allow the Company to be in production in Q4 2024. Atlas Lithium has estimated the total Phase 1 capital expenditures (“CAPEX”) to be US$ 49.5 million for the implementation of mining and production of spodumene concentrate at its lithium project in Brazil’s Lithium Valley. This CAPEX is now funded by the US$ 50 million secured from lithium industry leaders Yahua and Chengxin as described in this press release.

Offtake Agreements

The high quality of Atlas Lithium’s spodumene, further validated by extensive metallurgical test work, along with the project’s amenability to open pit mining and simple dense media separation (“DMS”) processing, generated robust interest from global parties looking to invest and partner with the Company. After a process which included project site visits from multiple parties, Atlas Lithium chose to partner with Chengxin and Yahua, two of the world’s largest lithium hydroxide producers. Atlas Lithium’s battery grade spodumene concentrate is a product tailored to be used in chemical conversion plants that will process it to lithium hydroxide, the next step in the processing of lithium towards eventual use in batteries. With excellent technologies, strong relationships with top-tier customers such as BYD (the largest global EV maker), Tesla (the second largest), and LG, among others, and a commitment to high-quality, sustainable lithium production, Chengxin and Yahua share Atlas Lithium’s vision to power the accelerating global transition to green energy. Furthermore, Atlas Lithium’s business development team did not want to rely on placing the Company’s product on the spot market as the vagaries of such approach are much less economically attractive than securing purchasing agreements with Tier 1 customers such as Yahua and Chengxin.

Shenzhen Chengxin Lithium Group Co., Ltd (“Chengxin”) was established in 2001 and is headquartered in Chengdu, China. It is listed on the Shenzhen Stock Exchange with a market capitalization of approximately US$2.8 billion. Chengxin’s core business is production and sales of lithium battery materials. The main products are lithium concentrate, lithium carbonate, lithium hydroxide, lithium chloride, and lithium metal. At present, the Company has built a total production capacity of 72,000 tons of lithium chemicals in Deyang and Suining. Chengxin is currently building out new capacity of 60,000 tons of lithium chemical project in Indonesia which was expected to be completed by the first half of 2024. Chengxin’s main customers include BYD, CATL, LG Chemical and other industry leading enterprises.

Sichuan Yahua Industrial Group Co., Ltd (“Yahua”) was founded in 1952 and is headquartered in Chengdu, China. It is listed on the Shenzhen Stock Exchange with a market capitalization of approximately US$2.2 billion. Yahua is a diversified chemical company engaged in the production and sale of lithium chemical products among others. Yahua currently has an annual lithium chemical production capacity exceeding 70,000 tons, including industrial and battery grade lithium carbonate and lithium hydroxide. Yahua plans to expand its lithium salt production capacity to over 100,000 tons by 2025. Yahua’s main customers include CATL, Tesla and LG Energy Solutions.

Nick Rowley, Atlas Lithium’s VP of Business Development, said, “I had the opportunity to work with both Chengxin and Yahua during my time at Galaxy Resources (now Allkem). These two companies were among the top purchasers of product from Galaxy and integral to our success there as major offtake partners of the Mt Cattlin lithium mine in Western Australia. I am thrilled to have secured their support for Atlas Lithium which is now poised to become the next high-quality lithium concentrate producer in Brazil’s globally renowned Lithium Valley region.”

Marc Fogassa, the Company’s CEO and Chairman, added, “I am humbled by the robust interest multiple parties demonstrated in Atlas Lithium. Ultimately, we opted to partner with two exceptional firms that rapidly and proactively pursued this opportunity to fruition. The ability to become a lithium producer with minimal dilution to shareholders is a significant accomplishment. Securing strong customers with premier end-users is also pivotal to Atlas Lithium’s ambition to become a significant supplier of high-quality lithium. This announcement thus signals a watershed moment for Atlas Lithium’s pursuit of Tier 1 producer status.”

Details of the agreements described in the press release can be found on a Form 8-K which the Company has filed today with the Securities and Exchange Commission. The offtake agreements carry a 5-year term while allowing for early termination should Atlas Lithium undergo a change of control transaction. The Company considers that it received highly attractive pricing on the offtake agreements because of the quality of its spodumene and the credibility of its team. Pricing for the periodic sales of Atlas Lithium’s battery grade spodumene concentrate will be calculated by a formula based on the price of lithium hydroxide globally. The price of lithium hydroxide is defined by historical data for the import and export pricing in China, Japan and South Korea, as determined by major cathode makers.

Early-Revenue Strategy

With the well-delineated initial Anitta pegmatites and positive metallurgical test work results, Atlas Lithium’s technical team opted to expedite the production timeline for its 100%-owned Neves Project. The original target of 300,000 tpa of spodumene concentrate output remains on track for 2025 as Phase 2. However, the Company now targets to commence the initial production of up to 150,000 tpa of spodumene concentrate by Q4 2024. This accelerated production timeline will be enabled by deploying modular DMS technology and contracting initial crushing and mining operations. The total CAPEX until the initial production and revenues is estimated at US$ 49.5 million, which includes the modular DMS plant already purchased along with all civil construction and mining implementation work, and a contingency reserve.

To enable the accelerated production schedule, the Company will utilize modular DMS processing plants, a design and approach not yet utilized in lithium processing in Brazil, and which allows for expedited construction. Figures 1 and 2 show the overall design for Atlas Lithium’s modular plant, with a targeted nameplate capacity of up to 150,000 tpa of spodumene concentrate. The first two DMS modules for Phase 1 are currently under construction with an estimated delivery date to Brazil by April 2024.

Figure 1 – Atlas Lithium’s designed modular DMS plant with a targeted nameplate capacity of up to 150,000 tpa of spodumene concentrate.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6706/189403_82c09b34e42f6be2_003full.jpg

Figure 2 – Rotated view of Atlas Lithium’s designed modular DMS plant design with a targeted nameplate capacity of up to 150,000 tpa of spodumene concentrate.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6706/189403_82c09b34e42f6be2_004full.jpg

Mine development has also progressed significantly, with well-defined ore bodies that have enabled the Company to develop a comprehensive mining schedule. The geological modelling team has completed a detailed block model of the initial pit area, which has facilitated the design of an optimal open-pit outline by outside consultants. The initial mining plan is focused on the Anitta 2 and 3 pegmatites with Figure 3 illustrating the cross-section with an overlying pit shell for Anitta 2, the location of the starting open-pit mine. The processing plant and Anitta 2 open-pit layout can be seen in Figure 4.

Figure 3 – Cross-section with an overlying pit shell for Anitta 2, the location of the first open-pit mine.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6706/189403_82c09b34e42f6be2_005full.jpg

Figure 4 – Neves Project processing plant and Anitta 2 open-pit layout.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6706/189403_82c09b34e42f6be2_006full.jpg

In parallel with its accelerated effort to commence production in 2024, the Company continues an aggressive exploration drilling campaign, with most rigs operating around the clock. The exploration campaign has recently revealed several promising new pegmatites, with numerous targets still untested (Figure 5). Under the technical leadership of James Abson, Atlas Lithium’s recently hired Chief Geology Officer, the Company is targeting the release of a Maiden Resource Estimate in Q1 2024, conjointly with its first Preliminary Economic Assessment. In the interim, certain technical areas are being advanced to allow issuing a Definitive Feasibility Study in Q2 2024, to be designed around the Phase 2 production target of 300,000 tpa of battery grade spodumene concentrate.

Figure 5 – Six new and promising target areas (designated as Target Areas 1 through 6) within the Neves Project, complementing the four confirmed pegmatite bodies with spodumene mineralization (designated as Anitta 1 through 4).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6706/189403_82c09b34e42f6be2_007full.jpg

Overall, the Company’s core strategy remains committed to strong ESG principles. Atlas Lithium is focused on sustainably producing premium spodumene concentrate, including plans to maximize water recycling, employ 100% dry stacked tailings without dams, avoid hazardous chemicals in flotation during the lithium concentration process, and planning to utilize renewable energy sources for power. Additionally, the Company continues building public and private partnerships to spur development in the Jequitinhonha Valley region and takes pride in serving as a sustainable job creator benefiting local communities.

About Atlas Lithium Corporation
Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report and in Form 10-Q filed with the SEC on October 20, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:
Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326
[email protected]
https://www.atlas-lithium.com/
@Atlas_Lithium

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Industry comes together around Mission Possible Partnership's 'real-world' roadmap towards net zero-emissions in concrete & cement

CISION PR Newswire

Dec 4, 2023

First strategy developed with concrete & cement industry & anchored in granular economic modelling Three main levers to enable net zero by 2050 and stay within the sectoral 1.5°C carbon budget High cost increase for production, but typical building increase limited to 3%

LONDON, Dec. 4, 2023 /PRNewswire/ — Major concrete companies and cement plants, including Heidelberg, Cemex and Holcim, join architects, engineers, and construction firms in a collective acknowledgement for action. Mission Possible Partnership (MPP) have developed the new strategy with industry input, setting out milestones and commitments needed by government, industry and investors over the next 25 years to make net zero emissions concrete and cement a reality.

Concrete is the world’s most widely used material after water, and with cement, it is an essential part of the global economy, critical to buildings, transportation, and other infrastructure. The sector currently generates 8% of global CO2 emissions: more than aviation and shipping combined. The challenge of increasing emissions is becoming more urgent as production of concrete and cement is increasing to meet global needs. Without efficiency gains, demand for cement is projected to increase by 50% by 2050.

‘Making Net Zero Concrete and Cement Possible’ shows, through its Net Zero scenario, how the sector can reach net zero GHG emissions and comply with a 1.5°C target if urgent action is taken across all three levers:

22% emissions reduction can be achieved on the demand side through efficiency improvements in construction and design reducing the volume of concrete needed without compromising safety or durability. 25% reduction can be achieved in process emissions on the supply side by deploying Supplementary Cementing Materials (SCMs) to decrease the use of clinker; whilst bringing alternative chemistries to commercial stage. 53% of emissions can be reduced, eliminated or captured through a combination of fuel switch, power sector decarbonisation and carbon capture utilisation and storage (CCUS).

CCUS currently has the largest emissions saving potential of all available technologies, and 33-45 new CCUS plants with an annual capacity of 80 megatonnes (Mt) of CO2 must be in operation by 2030 for the industry to stay within its carbon budget. However, new data from MPP’s tracking of green industrial projects – released by MPP for COP28 – shows that the current pipeline falls short, as projects struggle to reach FID. Fifteen plants have so far reached this critical point.

MPP CEO, Faustine Delasalle, says: "Our report sets out precisely what must happen to make zero carbon concrete and cement a reality, but time is not on our side. The moment to roll up our sleeves and work together across the value chain and with governments is now."

MPP is calling for immediate action across the concrete production value chain from industry, governments and financial institutions to create an enabling environment for innovation and decarbonisation. Its roadmap details short and long-term actions needed to rapidly decarbonise the sector.

Report

Press release

MPP

CONTACT: [email protected]

Source : Industry comes together around Mission Possible Partnership's 'real-world' roadmap towards net zero-emissions in concrete & cement

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Technoderma Medicines Completes Phase 1 Dose Escalation Clinical Trial of TDM-180935 for Atopic Dermatitis

CISION PR Newswire

Dec 4, 2023

CHENGDU, China, Dec. 4, 2023 /PRNewswire/ — Technoderma Medicines, Inc. ("the Company"), a clinical stage biopharmaceutical company, is pleased to report that the Company has completed a Phase 1 clinical trial (NCT05525468) of TDM-180935 topical ointment for Atopic Dermatitis (AD). This first clinical trial in the AD program included single dose and multidose escalation cohorts in a study entitled, "A Randomized, Double-Blind, Vehicle-Controlled, Parallel Group, Dose Escalation Study to Evaluate the Safety, Tolerability, and Pharmacokinetics of TDM-180935 Following Topical Administration in Healthy Male Subjects". Study objectives were to evaluate safety and pharmacokinetics of topical TDM-180935; one U.S. clinical site participated in this study under an open IND with FDA. All strengths of TDM-180935 (0.25%-2.0%) were well tolerated with no material safety issues identified. Bioanalytical results show that once daily application of TDM-180935 for 4 weeks over the range of doses studied produces extremely low to no systemic exposure.

Arthur P. Bertolino, MD, PhD, MBA, Chief Medical Officer at Technoderma Medicines commented, "We are excited to see that TDM-180935 has met our expectations of a favorable safety profile in the current Phase 1 testing. As a potent JAK1/Tyk2 small molecule inhibitor, it may offer significant advantages regarding efficacy and safety compared to existing topical treatments for Atopic Dermatitis."

"This is a major milestone for the Company as we can now transition our second clinical program into Phase 2. We continue to build a robust and sustainable pipeline of drug candidates in multiple phases of clinical development," said Zengquan Wang, PhD, Chief Executive Officer at Technoderma Medicines. "We are well on our way to produce a portfolio of dermatology drug candidates."

About TDM-180935

TDM 180935 is a small molecule drug candidate being developed as a topical drug for treatment of Atopic Dermatitis. It functions as a potent JAK1/Tyk2 small molecule inhibitor. Preclinical assessment of TDM-180935 has demonstrated efficacy in multiple models and that it is well-suited for topical administration. Functional cell assays demonstrate that TDM-180935 can effectively suppress both keratinocyte- and T cell-derived pathogenic pathways characteristic for Atopic Dermatitis. Testing in rats and minipigs demonstrated favorable toxicology and toxicokinetic profiles.

About Atopic Dermatitis (AD)

Atopic Dermatitis (AD), also called eczema, is a chronic relapsing pruritic inflammatory skin disorder that typically affects the face, neck, hands and feet, and flexor aspects of extremities. Depending on disease stages (acute, subacute, chronic), typical AD lesions include redness, swelling, cracked or excoriated skin, scaly erythema or plaques with or without exudates, and lichenification, accompanied by severe pruritus and skin dryness. Repeated scratching triggers a self-perpetuating itch-scratch cycle, which can have a significant impact on quality of life. The worldwide prevalence of AD is estimated to be 15-20% in children and 1-3% in adults, and the incidence has increased by 2- to 3-fold during the past decades in industrialized countries. The pathogenesis of AD involves four major aspects: disruption of skin barrier function, exposure to allergens, microbial infection, and dysregulated immune function. There are two major risk factors of developing AD: one is the genetic defect in the gene FLG encoding profilaggrin, the precursor of filaggrin protein present in the granular layer of the epidermis where it brings structural proteins together to create a strong barrier matrix; the other major risk factor is a family history of atopic diseases such as food allergy, allergic rhinitis, and asthma.

About Technoderma Medicines

Technoderma Medicines, Inc. is a privately held clinical stage biopharmaceutical company. The Company was originally located in Jiaxing Xiuzhou Biomedicine Guoqian Park, China, and recently relocated to Chengdu Tianfu BioPark, Sichuan, China. Its current core programs focus on development of innovative therapies for Androgenetic Alopecia, Atopic Dermatitis, Psoriasis and Lupus Erythematosus. Its "first-in-class" small molecule thyromimetic drug candidate TDM-105795 for Androgenetic Alopecia is currently completing Phase 2a clinical testing. Technoderma’s novel JAK1/TYK2 inhibitor TDM-180935 for Atopic Dermatitis has now completed Phase 1 clinical testing. The pipeline targets dermatologic indications.

INVESTOR AND MEDIA CONTACT

Technoderma Medicines, Inc.
Zengquan Wang, PhD, CEO
[email protected]

Source : Technoderma Medicines Completes Phase 1 Dose Escalation Clinical Trial of TDM-180935 for Atopic Dermatitis

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Abbisko Therapeutics Announced the Entry into a Licensing Agreement for Pimicotinib (ABSK021) with Merck

CISION PR Newswire

Dec 4, 2023

SHANGHAI, Dec. 4, 2023 /PRNewswire/ — On 4 Dec. 2023, Abbisko Therapeutics announced that it has entered into a licensing agreement with Merck, a leading science and technology company headquartered in Darmstadt, Germany. Under the terms of the agreement, Merck will be granted an exclusive license to commercialize products comprising or containing pimicotinib (ABSK021) for all indications in Chinese mainland, Hong Kong, Macau and Taiwan (the "Licensed Territory"), and Abbisko Therapeutics will retain the exclusive rights to develop pimicotinib within the Licensed Territory. Abbisko Therapeutics has also granted Merck an exclusive option for global commercial rights of pimicotinib, subject to the terms and conditions as agreed between the parties (the "Global Commercialization Option"). In addition, Merck has the option to co-develop pimicotinib in additional indications under certain conditions.

Pursuant to the License Agreement, Abbisko Therapeutics will receive a one-time, non-refundable down payment of US$ 70 million. In the event that Merck exercises the Global Commercialization Option, Merck will pay Abbisko Therapeutics an additional option exercise fee. The aggregate amount of upfront payment, exercising payment, and development and commercialization milestone adds up to US$ 605.5 million, plus a double-digit percentage (%) royalty on actual annual net sales.

Dr. Xu Yao-chang, Chairman of Abbisko Therapeutics, said that "The collaboration with Merck is an important milestone in advancing the global commercialization process of pimicotinib, and provides a new model for the commercialization path of the company’s pipeline in the future. We are pleased to collaborate with a leading multinational pharmaceutical company, jointly accelerating the global approval and commercialization pace of pimicotinib, and striving to bring new treatment options to patients as soon as possible."

"We have the opportunity through our partnership with Abbisko to deliver a first-in-class treatment for a critically underserved patient population in China and potentially beyond," said Andrew Paterson, Chief Marketing Officer for the Healthcare business sector of Merck. "Pimicotinib provides an opportunity to address a significant unmet medical need and for us to expand our commercial footprint in oncology in China, the second largest pharmaceutical market in the world."

About Pimicotinib (ABSK021)

Pimicotinib is a novel, orally available, highly selective, and potent small molecule CSF-1R inhibitor, independently developed by Abbisko Therapeutics. It has been granted the breakthrough therapy designation (BTD) and Priority Medicine (PRIME) designation by China NMPA, U.S.FDA, and EMA for the treatment of TGCT patients that are not amenable to surgery. The study is the first global Phase III clinical trial of TGCT conducted simultaneously in China, the U.S., Canada and Europe.

Upon 1-year follow-up, striking improvement in efficacy has been observed with pimicotinib treatment and results were presented at CTOS in November of 2023, with an ORR of 87.5% (28/32, including 3 CR) in the 50 mg QD cohort. The Phase I dose-escalation trial for pimicotinib has been completed in the United States previously.

There is currently no approved drug available in China for TGCT patients, and only one drug has been approved in the U.S.. However, it is only available through the Risk Evaluation and Mitigation Strategy (REMS) Program which is a restricted procedure due to the potential liver injuries it may cause. There are unmet medical needs of TGCT patients in China, the U.S., and Europe.

Abbisko Therapeutics is also actively exploring the clinical potential of pimicotinib in many types of solid tumors, and has obtained approval from NMPA to conduct a Phase II clinical study in chronic graft-versus-host disease and a Phase II clinical study in advanced pancreatic cancer.

As of the date of this announcement, no highly selective CSF-1R inhibitor has been approved in China.

About Abbisko Therapeutics

Founded in April 2016, Abbisko Therapeutics Co., Ltd., a subsidiary of Abbisko Cayman Limited (Stock Code on the Hong Kong Stock Exchange: 2256. HK), is an oncology-focused biopharmaceutical company founded in Shanghai, dedicated to discovering and developing innovative medicines to meet unmet medical needs in China and globally. The Company was established by a group of seasoned drug hunters with rich R&D and managerial expertise from top multinational pharmaceutical companies. Since its founding, Abbisko Therapeutics has built an extensive pipeline of 15 innovative small molecule programs focused on precision oncology and immuno-oncology, including eight clinical stage assets.

Please visit www.abbisko.com for more information.

Source : Abbisko Therapeutics Announced the Entry into a Licensing Agreement for Pimicotinib (ABSK021) with Merck

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

GLOBAL CENTRE LAUNCHED TO ACCELERATE CLIMATE FINANCE

CISION PR Newswire

Dec 4, 2023

The Founding Members of Global Climate Finance Centre - GCFC (from left to right): Mark Carney, UN Special Envoy for Climate Action and Finance and Co-Chair, Glasgow Financial Alliance for Net Zero (GFANZ), Noel Quinn, Group Chief Executive at HSBC, Larry Fink, Chairman and CEO of BlackRock, Mercedes Vela Monserrate, GCFC CEO, H.E. Ahmed Jasim Al Zaabi, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Department of Development (ADDED) and (Abu Dhabi Global Market) ADGM, Ajay Banga, President of the World Bank Group, Kate Hampton, Chief Executive Officer of CIFF and Hendrik du Toit, Founder and Chief Executive Officer of Ninety One.

Pioneering new Global Climate Finance Centre in Abu Dhabi to accelerate global climate finance and market design, delivering COP28 legacy New knowledge hub to house world-leading research, advisory and skills academy to pioneer new forms of climate finance and establish Abu Dhabi as a leading global marketplace Nine global founding members confirm membership including ADGM, ADQ, BlackRock, CIFF, GFANZ, HSBC, Masdar, Ninety One, and the World Bank Group

DUBAI, UAE, Dec. 4, 2023 /PRNewswire/ — Abu Dhabi will host a pioneering Global Climate Finance Centre (GCFC), that will accelerate the development of climate finance frameworks and skills, and champion best practices in the UAE and globally. The GCFC aims to address key barriers linked to financial frameworks that hinder investment flows, to help make climate finance available, affordable, and accessible as a COP28 legacy for action.

The Founding Members of Global Climate Finance Centre – GCFC (from left to right): Mark Carney, UN Special Envoy for Climate Action and Finance and Co-Chair, Glasgow Financial Alliance for Net Zero (GFANZ), Noel Quinn, Group Chief Executive at HSBC, Larry Fink, Chairman and CEO of BlackRock, Mercedes Vela Monserrate, GCFC CEO, H.E. Ahmed Jasim Al Zaabi, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Department of Development (ADDED) and (Abu Dhabi Global Market) ADGM, Ajay Banga, President of the World Bank Group, Kate Hampton, Chief Executive Officer of CIFF and Hendrik du Toit, Founder and Chief Executive Officer of Ninety One.

As an independent think-tank and research hub, the GCFC aims to address the root causes currently preventing investment, bringing together cutting-edge research and leading experts to develop fit-for-purpose financial frameworks that are increasingly aligned internationally. By working with stakeholders across sectors, the GCFC will help to create the enabling environment for investment into low-carbon, sustainable and resilient projects.

The GCFC, head-quartered in Abu Dhabi Global Market (ADGM), was first announced by Dr. Sultan Al Jaber, COP28 President during the Finance Session panel on 1st December. Today, the Chairman of Abu Dhabi Global Market (ADGM) and Abu Dhabi Department of Economic Development (ADDED) H.E. Ahmed Jasim Al Zaabi, addressed the Abu Dhabi Sustainability Week (ADSW) Summit, part of the Special Edition of ADSW at COP28, where he gave more details of the GCFC’s three core functions:

Research, Policy and Innovation: As an independent and private-sector-focused global climate finance think-tank, the GCFC will conduct cutting-edge research and share best practices, principles and solutions to align frameworks and build financial markets, enabling greater investment to flow into low-carbon and sustainable investments. Advisory and stakeholder engagement: The GCFC will convene private and public stakeholders who are directly facing impediments to develop recommendations and actions that are targeted to deploy funds and incentivize the creation of strong pipelines of bankable investment opportunities. Coalitions and partnerships of relevant actors will be at the core of the GCFC’s work. Climate Finance Academy: The GCFC will first and foremost develop a strong knowledge basis on the back of the Abu Dhabi experience on green finance markets, including providing training modules and tailored courses to build expertise and capacity in the UAE. This will establish the Academy as a global thought leader, in turn, opening opportunities to engage with other jurisdictions in supporting the development of tailored financial frameworks well aligned with Abu Dhabi.

Together these initiatives will build capacity in UAE and global financial institutions; scale up green finance market activity and ecosystems; and catalyze international investment into low and zero-carbon initiatives.

The announcement of the GCFC coincides with another landmark climate finance development, the launch of ALTÉRRA, a US$30 billion catalytic climate vehicle that will drive forward international efforts to create a fairer climate finance system with an emphasis on improving access to funding for the Global South. ALTÉRRA will aim to mobilize US$250 billion globally by 2030, steering private markets towards climate investments with a focus on transforming emerging markets and developing economies where traditional investment has lacked due to the higher perceived risks across those geographies. By supporting the creation of climate financial markets, the GCFC will help enable ALTÉRRA to build a climate finance ecosystem in Abu Dhabi and unlock funds into climate investments around the world at a transformational scale.

Commenting on the creation of the GCFC, Dr. Sultan Al Jaber said: "The scale of the climate crisis demands urgent and game-changing solutions from every industry. Finance plays a critical role in turning our ambitions into action and is essential to eliminating emissions and keeping 1.5C within reach. COP28 must be an inflection point as we unite the world on how we bridge the gaps to 2030 identified in the Global Stocktake. To do this, we need an all-of-the-above approach that includes everyone because everyone is needed. That is why I greatly welcome this new Global Climate Finance Centre which will catalyze the transformation of UAE financial markets and institutions towards a greener and more sustainable future. It will put Abu Dhabi and the UAE at the forefront of driving global change in sustainable finance, providing a positive legacy for years to come."

H.E. Ahmed Jasim Al Zaabi commented at ADSW: "Abu Dhabi knows how to deliver rapid progress, which is increasingly critical as we respond to global economic and environmental challenges. Just as we have built ADGM as a pioneering International Financial Centre in just eight years, it is now time for Abu Dhabi to build a new pioneer for global climate finance. This new GCFC will unlock new capital flows into the region as the Emirate becomes a key marketplace for sustainable finance, building upon ADGM’s progressive Sustainable Finance Regulatory Framework. Our ambition is for the benefits of this world-leading facility to touch every corner of our planet."

The GCFC is a global institution. In addition to ADGM, the other Founding Members of the GCFC are ADQ, BlackRock, Children’s Investment Fund Foundation (CIFF), Glasgow Financial Alliance for Net Zero (GFANZ), HSBC, Masdar, Ninety One, and the World Bank Group. The Founding Members will provide strategic direction to the GCFC, drawing on their deep expertise, experience, and networks. The GCFC will seek to work with peer institutions and knowledge partners to build on sustainable finance leadership, develop expertise in-house and deliver maximum impact.

H.E. Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ, said: "As we work to accelerate economic transformation and sustainable growth, it is vital that we support innovation in sustainable finance. As a founding member of the GCFC, ADQ is committed to helping deliver lasting impact that will also increase the diversification of the Abu Dhabi economy and strengthen its growing sustainable finance sector."

Larry Fink, Chairman and CEO of BlackRock, said: "BlackRock is delighted to participate in the launch of the GCFC. The future focus of the think tank speaks directly to a number of areas of interest for many of our clients around the world, as they seek the best data, analytics and insights to navigate the risks and capture the investment opportunities of the transition to a low-carbon economy. As we do with many think tanks and organizations around the world, we look forward to contributing our insights and research to the GCFC."

Kate Hampton, Chief Executive Officer of CIFF, said: "Scaling high-quality, low-cost climate finance for developing countries is essential to keep 1.5 degrees alive and to enable long-term, green, and resilient growth. CIFF is pleased to be partnering with the Global Climate Finance Centre, which can bring transparency and ambition to investors’ transition finance targets and delivery and align that capital with NDCs."

Mark Carney, UN Special Envoy for Climate Action and Finance and Co-Chair, Glasgow Financial Alliance for Net Zero (GFANZ), said, "Innovation is needed to accelerate the flow of climate finance and build a bridge to a more prosperous future. GFANZ is looking forward to supporting the Global Climate Finance Centre, to close the gaps in data, action, and investment we must address to achieve the goals of the Paris Agreement. We applaud the UAE’s leadership in tackling the most pressing and difficult challenges and look forward to working together on our shared mission to scale transition finance and mobilize capital to the global south."

Noel Quinn, Group Chief Executive at HSBC, said: "For the world to achieve its climate goals, it is absolutely critical that thinking continues to evolve, markets continue to develop, and countries continue to collaborate. HSBC is pleased to be a founding member of the Global Climate Finance Centre, which underlines the COP28 Presidency’s commitment to making this a COP of action while putting in place the tools needed to help deliver a net zero future."

Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said: "We welcome this important initiative, and Abu Dhabi is the perfect location to host the Global Climate Finance Center. Masdar looks forward to supporting this independent think-tank through our rich experience and pioneering legacy in financing and developing clean energy projects across the globe."

Hendrik du Toit, Founder and Chief Executive Officer of Ninety One, said: "Ninety One looks forward to supporting the GCFC in partnership with the UAE. Climate finance is a vital part of the battle against climate change. This launch represents decisive, ambitious action."

Ajay Banga, President of the World Bank Group, said: "We need the resources and ingenuity of the private sector, we need all shoulders to the wheel. This partnership embodies that cooperation, helping scale up solutions for low-carbon, climate-smart investments."

The GCFC will be led by Mercedes Vela Monserrate as its Chief Executive Officer. Being the sustainability lead for ADGM and a key advisor to COP28, Monserrate brings a wealth of experience and expertise to lead the centre in its mission to drive global change in sustainable finance.

Mercedes Vela Monserrate said, "I am honoured to lead the Global Climate Finance Centre and contribute to the transformation of financial markets towards a greener and more sustainable future. Together with our global partners, we aim to create a positive legacy by making climate finance more accessible and facilitating the transition to a low-carbon economy."

The GCFC website also launched today: www.gcfc.com.

The UAE has the capital, the capability and the ambition to serve as a global climate finance hub. In July 2023 ADGM implemented its Sustainable Finance Regulatory Framework, comprising the region’s most comprehensive ESG disclosure requirements and a regulatory framework for finds, discretionary managed portfolio, bonds and sukuks designed to accelerate the transition of the UAE to net zero greenhouse gas emissions.

The GCFC also builds upon ADGM initiatives such as the Abu Dhabi Sustainable Finance Declaration which has nearly 120 signatories, and the School of Sustainable Finance at the ADGM Academy. The GCFC will champion the accelerated growth of green finance in the region, with a focus on capital markets, and will build on the momentum created by COP28 in establishing ADGM as a strategic leader of sustainable finance.

ADSW is a global platform and event delivered by Masdar, which brings together heads of state, policymakers, industry leaders, investors, entrepreneurs, and youth, who all have a stake in the future of our planet, to discuss and engage on bold climate action and innovations that will ensure the next generation a sustainable world.

Source : GLOBAL CENTRE LAUNCHED TO ACCELERATE CLIMATE FINANCE

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

Viction Horizon's Startup Hackathon to offer over $300,000 in prizes

CISION PR Newswire

Dec 4, 2023

HO CHI MINH CITY, Vietnam, Dec. 4, 2023 /PRNewswire/ — The official Submission form for Viction Horizon Startup Hackathon is now open from 04/12/2023 – 27/12/2023. This ultimate playground for startups and aspiring developers is in their most exciting stage ever.

"We aim to discover projects that have the potential to make significant contributions to the Web3 industry and, more importantly, to human potential", Le Thanh, Co-Founder Ninety Eight.

Viction Horizon’s Overview

Viction Horizon, co-hosted by Coin98 Super Wallet, a core product of Ninety Eight Ecosystem, is a Startup Hackathon designed for developers, creators, innovators, and visionaries around the globe. The mission is to unlock human potential by transforming innovative ideas into successful startups within the Viction ecosystem.

Thanh Le, Council member at Viction Foundation and Co-founder of Ninety Eight, emphasized, "Our goal extends beyond simply identifying winners; we aim to discover projects that have the potential to make significant contributions to the Web3 industry and, more importantly, to human potential."

Extensive benefits for winning teams

The benefits of participating in Viction Horizon Startup Hackathon extends beyond just the prizes from the competition.

The $300,000 prize pool will be distributed as C98 tokens in two main categories: Main Track and Category Track. The Category Track includes smaller categories such as Social, Gaming, Payment, Stablecoin, and DeFi, each offering first, second, and third prizes for participants.

Furthermore, 8 winning teams (3 prize winners from the Main Track and the 1st prize winner from each of the 5 Category Tracks) will receive exclusive benefits, including the "Viction Horizon – Victory Expedition," which offers travel grants to Vietnam and networking activities sponsored by Arche Fund.

The most valuable benefit is the opportunity for fundraising, where participants can enter the Online Pitching round to present their ideas and introduce their projects to Arche Fund.

Valuable mentoring and support from industry leaders

With a lineup of 20+ experienced advisors, judges, and speakers from Viction Horizon, including founders and experts from renowned organizations like Ninety Eight, BTSE, DWFLabs, Layer Zero, Amazon Web Services, and AltLayer, participants will gain valuable insights from the blockchain industry and receive guidance at every stage of project implementation.

Furthermore, Viction Horizon has secured generous sponsorships from well-known names in the crypto market, such as BTSE, DWFLabs, AWS, Verichains, Poolz, RockX, BlockPi, Renverse, and Covalent, contributing over $300,000 to the event.

Previously, a series of online and offline events were organized to support developers in building Web3 projects. Workshops were conducted in countries like Thailand, Malaysia, and Vietnam, providing programming insights, and networking opportunities for builders.

Viction also actively fulfills their mission of education and knowledge-sharing by organizing Unitour visits to universities, spreading the value of Web3.

Evaluation Criteria

Evaluation of projects considers factors such as their vision, operating model, impact on the Victon ecosystem, implementation quality, and marketing strategy. To be eligible for participation, teams must also meet specific requirements, including deploying the project on the Viction blockchain, providing KYC information, being at least 18 years old, and agreeing to the designated terms and conditions.

To submit the project for the competition, fill out the form here before December 27th, 2023, or visit Viction Horizon Landing Page.

Source : Viction Horizon's Startup Hackathon to offer over $300,000 in prizes

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network