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Philips Annual General Meeting of Shareholders approves all proposals

May 6, 2021

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) announced that today’s Annual General Meeting of Shareholders (2021 AGM) has re-appointed Mr. Marnix van Ginneken as member of the Board of Management and appointed Mrs. Chua Sock Koong and Mrs. Indra Nooyi as members of the Supervisory Board.

The other proposals voted on at the 2021 AGM, including the proposal to pay a dividend of EUR 0.85 per share over 2020, were also adopted. More information about the dividend can be found via this link.

More information on the composition of the Board of Management, the Executive Committee and the Supervisory Board can be found here.

Philips’ 2020 financial statements are included in its 2020 Annual Report that was published on February 23, 2021.

For more information about Philips’ 2021 AGM, please click on this link.

For further information, please contact:

Martijn van der Starre
Philips Global Press Office
Tel.: +31 6 28474617
E-mail: martijn.van.der.starre@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 17.3 billion and employs approximately 77,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Attachments

 

Oculis Selects AGC Biologics’ Heidelberg Facility to Manufacture OCS-02

Seattle, May 06, 2021 (GLOBE NEWSWIRE) — AGC Biologics, a leading global Biopharmaceutical Contract Development and Manufacturing Organization (CDMO), has announced its partnership with Oculis to manufacture OCS-02, a Phase II investigational drug targeting both Dry Eye Disease and Anterior Uveitis, at its Heidelberg facility.

“We are very pleased that Oculis has chosen us to manufacture this treatment,” says AGC Biologics Chief Business Officer, Mark Womack. “Our Heidelberg site has the experience and expertise to deliver this program from early phase to market.”

OCS-02 is a tumor necrosis factor-alpha (TNF alpha) inhibitor. TNF alpha is a proven biological target in ocular inflammation with possible dual actions: anti-inflammation and anti-necrosis. The OCS-02 compound is based on a proprietary single-chain antibody fragment technology specifically designed for topical delivery. The efficacy and safety of OCS-02 were evaluated in three clinical trials including two controlled studies under IND. The studies demonstrated a promising profile for treating ocular inflammatory conditions of the anterior segment of the eye including Dry Eye Disease and Non-Infectious Anterior Uveitis.

“The Heidelberg team is excited to advance the process and analytics for this molecule to the next phase and is looking forward to a close collaboration with the Oculis team,” says AGC Biologics General Manager, Heidelberg, Dieter Kramer.

AGC Biologics’ Heidelberg facility has over 20 years of experience delivering a very wide range of microbial programs. In addition, the site is AGC’s Center of Excellence for Plasmid DNA (pDNA) production, as part of their end-to-end Cell and Gene Therapy offering.

About AGC Biologics:
AGC Biologics is a leading global biopharmaceutical Contract Development and Manufacturing Organization (CDMO) with a strong commitment to delivering the highest standard of service as we work side-by-side with our clients and partners, every step of the way. We provide world-class development and manufacture of mammalian and microbial-based therapeutic proteins, plasmid DNA (pDNA), viral vectors and genetically engineered cells. Our global network spans the U.S., Europe and Asia, with cGMP-compliant facilities in Seattle, Washington; Boulder, Colorado; Copenhagen, Denmark; Heidelberg, Germany; Milan, Italy; and Chiba, Japan and we currently employ more than 1,700 employees worldwide. Our commitment to continuous innovation fosters the technical creativity to solve our clients’ most complex challenges, including specialization in fast-track projects and rare diseases. AGC Biologics is the partner of choice. To learn more, visit www.agcbio.com.

About Oculis:
Headquartered in Lausanne, Switzerland with global operations in Europe and the U.S., Oculis is a biopharmaceutical company focused on developing transformative innovative ophthalmic treatments to improve the sight and lives of patients. Oculis has a robust and expansive development portfolio including late-stage novel topical (eye drop) treatments, which are non-invasive and represent an unprecedented technical advance for patients with retinal edema and front-of-the-eye diseases. In addition, Oculis’ formulation discovery and innovation capabilities enable the development of a pipeline of topical drugs targeting sight-threatening eye diseases that affect both the anterior and posterior segments of the eye. To learn more, please visit www.oculis.com

David Self
AGC Biologics
dself@agcbio.com

 

Bombardier Reports First Quarter 2021 Financial Results, Affirms Full Year Financial Guidance and Delivery Outlook

  • Business jet revenues of $1.3 billion, up 18% year-over-year, mainly driven by a favourable mix of large-cabin aircraft deliveries, including eight Global 7500 aircraft

  • Adjusted EBITDA(1) from continuing operations of $123 million, up 43% year-over-year, reflecting an improved aircraft mix, Global 7500 aircraft learning curve progress and cost structure improvements; adjusted EBIT(1) from continuing operations of $29 million. Reported EBIT from continuing operations for the quarter was $19 million

  • Free cash flow usage(1) from continuing operations of $405 million, including ~ $100 million of non-recurring cash items(2), an improvement of $357 million year-over-year. Reported cash flows from operating activities – continuing operations for the quarter was a usage of $372 million and net additions to PPE & intangible assets – continuing operations for the quarter were $33 million
  • First quarter book-to-bill(3) > 1.0 on strong sales activity, which is expected to continue(4) into the second quarter

  • Strong pro-forma liquidity(4) of $2.6 billion, which includes $0.6 billion in proceeds from sale of Alstom shares. Bombardier has deployed ~ $2.4 billion toward balance sheet deleveraging year-to-date, expected to reduce annual cash interest costs by ~ $200 million versus its 2020 debt servicing cost

All amounts in this press release are in U.S. dollars unless otherwise indicated.
Amounts in tables are in millions, unless otherwise indicated.

MONTRÉAL, May 06, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today its financial results for the first quarter of 2021 and affirmed its full year 2021 financial guidance and delivery expectations of 110-120 aircraft.

“In our first quarter as a pure-play business aviation company, Bombardier delivered solid financial performance,” said Éric Martel, President and Chief Executive Officer, Bombardier. “This includes growth in business jet revenues, margin expansion and significantly improved cash performance. We also continue to make strong progress on each of our strategic priorities: maturing the Global 7500 aircraft program, delivering on our productivity initiative, executing our aftermarket growth strategy and deleveraging our balance sheet – setting the foundation for a more resilient and profitable business.”

First Quarter 2021 Financial Performance

Business jet revenues during the first quarter of 2021 totalled $1.3 billion, an 18% year-over-year increase. This increase was mainly driven by an improved mix of large-cabin aircraft deliveries, including eight Global 7500 aircraft. Total aircraft deliveries in the quarter equalled 26, in line with expectations and the company’s full-year delivery targets. Order activity in the quarter was strong, resulting in a book-to-bill ratio of greater than 1.0. Robust sales activity and positive market trends are expected to continue(5) into the second quarter.

Adjusted EBITDA for continuing operations in the quarter was $123 million, a 43% increase year-over-year, reflecting a favourable aircraft mix, progress on the Global 7500 aircraft learning curve, cost structure improvements and the divestitures of margin dilutive businesses. Adjusted EBIT for continuing operations was $29 million.

First-quarter free cash usage for continued operations totalled $405 million, including approximately $100 million of non-recurring cash items, representing a $357 million year-over-year improvement.

Balance Sheet Deleveraging Actions

As previously disclosed by Bombardier, the sale of its Transportation business was completed on January 29, 2021. Since the divestiture of Bombardier Transportation, Bombardier has deployed approximately $2.4 billion of liquidity, including proceeds from the Transportation sale, toward deleveraging its balance sheet. This includes the full repayment of the total outstanding balance of $750 million drawn on the $1.0 billion senior secured term loan facility with HPS Investment Partners, LLC and the recently concluded approximately $1.6 billion tender offer to purchase certain outstanding notes. Together, these actions are expected to reduce the company’s annual cash interest costs by approximately $200 million versus its 2020 debt servicing cost.

The company continues to consider various options to address other debt maturities in an opportunistic manner, with a focus on clearing a three-year runway providing the company with a path to execute its strategy.

Affirming Full Year 2021 Guidance and 2025 Objectives

“With our solid performance in the first quarter, and our markets in recovery and key initiatives well underway, we remain confident in our ability to deliver on both our full-year financial guidance and longer-term objectives,” Martel continued. “This includes: (i) diversifying the company’s revenue mix by growing aftermarket services to ~ 27% of revenues by 2025; (ii) achieving a 20% reduction in Global 7500 aircraft unit costs between the 50th and 100th aircraft delivery; and (iii) obtaining $400 million in recurring savings by 2023. Through these actions, we work on transforming Bombardier into a more predictable, profitable and resilient company.”

SELECTED RESULTS

Results of the Quarter
Three-month periods ended March 31 2021
2020 Variance
restated(6)
Revenues(7) $ 1,341 $ 1,522 (12)%
Adjusted EBITDA $ 123 $ 86 43 %
Adjusted EBITDA margin(1)(7) 9.2 % 5.7 % 350 bps
Adjusted EBIT $ 29 $ 9 222%
Adjusted EBIT margin(1)(7) 2.2 % 0.6 % 160 bps
EBIT(7) $ 19 $ 105 (82)%
EBIT margin(7) 1.4 % 6.9 % (550) bps
Net loss from continuing operations $ (251 ) $ (281 ) 11 %
Net income from discontinued operations $ 5,321 $ 81 6,469 %
Net income (loss) $ 5,070 $ (200 ) nmf
Diluted EPS from continuing operations (in dollars) $ (0.10 ) $ (0.12 ) $ 0.02
Diluted EPS from discontinued operations (in dollars) $ 2.13 $ 0.01 $ 2.12
$ 2.03 $ (0.11 ) $ 2.14
Adjusted net loss(1)(7) $ (173 ) $ (182 ) (5)%
Adjusted EPS (in dollars)(1)(7) $ (0.07 ) $ (0.08 ) $ 0.01
Cash flows from operating activities
Continuing operations $ (372 ) $ (686 ) (46)%
Discontinued operations $ (621 ) $ (857 ) (28)%
$ (993 ) $ (1,543 ) (36)%
Net additions to PP&E and intangible assets
Continuing operations $ 33 $ 76 (57)%
Discontinued operations $ $ 23 (100)%
$ 33 $ 99 (67)%
Free cash flow (usage)
Continuing operations $ (405 ) $ (762 ) (47)%
Discontinued operations $ (621 ) $ (880 ) (29)%
$ (1,026 ) $ (1,642 ) (38)%
As at March 31, 2021
December 31, 2020 Variance
Cash and cash equivalents excluding Transportation $ 3,153 $ 1,779 77 %
Cash and cash equivalents from Transportation $ $ 671 (100)%
$ 3,153 $ 2,450 29 %
Available short-term capital resources(8) $ 3,153 $ 3,203 (2)%
Aviation order backlog (in billions of dollars)
Business aircraft(9) $ 10.4 $ 10.7 (3)%


KEY HIGHLIGHTS AND EVENTS

Progress on the Reshaping of Bombardier’s Balance Sheet

Following the conclusion of the sale of its Transportation business, Bombardier has proceeded to deploy approximately $2.4 billion of available cash towards debt repayment, including proceeds from the sale of the Transportation business. As a result, Bombardier expects to reduce its annual cash interest costs by approximately $200 million versus its 2020 debt servicing cost. Following the first quarter results, as well as the conclusion of these actions, the Corporation’s pro-forma liquidity remains strong at $2.6 billion, which includes $0.6 billion in proceeds from the sale of Alstom shares.

The deployment of the proceeds consisted of the following initiatives:

  • On February 19, 2021, Bombardier deployed $0.8 billion and completed the full repayment of its senior secured term loan with HPS Investment Partners, LLC.
  • On April 19, 2021, Bombardier announced the expiration of its tender offer to purchase for cash certain of its outstanding Notes. The aggregate purchase amount of the cash tender offer amounted to a total consideration of $1.6 billion.

First Quarter Financial Performance

  • Business jet revenues up 18% year-over-year, totalling $1.3 billion; this increase is mainly driven by a favourable mix of large-cabin aircraft deliveries and the fact that we are now operating at a steady delivery rate for the Global 7500.
  • Adjusted EBITDA of $123 million from continuing operations for the quarter up 43% year-over-year reflecting an improved aircraft mix, an acceleration of the Global 7500 learning curve benefits, and improvements in the cost structure. Reported EBIT from continuing operations for the quarter was $19 million.
  • Free cash flow usage from continuing operations for the quarter totalled $405 million including approximately $100 million of non-recurring cash items, representing an improvement of $357 million year-over-year. Reported cash flows from operating activities – continuing operations for the quarter was a usage of $372 million and net additions to PPE & intangible assets – continuing operations for the quarter were $33 million.
  • Business aircraft deliveries for the quarter totalled 26 units, on par with 2020; company remains on plan for 110-120 deliveries in 2021 within a market showing preliminary signs of recovery(5). Stronger sales activity in the first quarter yielded a unit book-to-bill ratio above 1.0, which is expected to continue into the second quarter.

About Bombardier

Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier, Global and Global 7500 are trademarks of Bombardier Inc. or its subsidiaries.

For information

Francis Richer de La Flèche Anna Cristofaro
Vice President, Financial Planning Manager
and Investor Relations Communications
Bombardier Bombardier
+514 855 5001 x13228 +514 855 8678

The Management’s Discussion and Analysis and the Interim Consolidated Financial Statements are available at ir.bombardier.com.

bps: basis points
nmf: information not meaningful
(1) Non-GAAP financial measures. Refer to the Non-GAAP financial measures section in Overview for definitions of these metrics and to the Analysis of consolidated results section and Liquidity and capital resources section in Overview for reconciliations to the most comparable IFRS measures.
(2) Non-recurring cash items include the impact of winding down the reverse factoring programs, payments of residual value guarantee liability and restructuring costs.
(3) Ratio of new aircraft orders in units over aircraft deliveries in units.
(4) Non-GAAP measure. Pro-forma liquidity is defined as cash and cash equivalents as at March 31, 2021, of $3.2 billion, plus approximately $0.6 billion of Alstom shares, plus $0.4 billion of short-term restricted cash as collateral for bank guarantees, and less $1.6 billion paid to repurchase certain outstanding Notes in April 2021.
(5) See the forward-looking statements disclaimer.
(6) Restated for the sale of Transportation, refer to Note 17 – Disposal of business to our Interim consolidated financial statements for more details.
(7) Includes continuing operations only.
(8) Defined as cash and cash equivalents as at March 31, 2021; defined as cash and cash equivalents including cash and cash equivalents from Transportation plus the undrawn amounts under Transportation’s revolving credit facility and our senior secured term loan as at December 31, 2020.
(9) Includes order backlog for both manufacturing and services.

CAUTION REGARDING NON-GAAP FINANCIAL MEASURES

This press release is based on reported earnings in accordance with IFRS and on the following non-GAAP financial measures:

Non-GAAP financial measures
Adjusted EBIT EBIT excluding special items. Special items comprise items which do not reflect the Corporation’s core performance or where their separate presentation will assist users of the consolidated financial statements in understanding the Corporation’s results for the period. Such items include, among others, the impact of restructuring charges, impact of business disposals and significant impairment charges and reversals.
Adjusted EBITDA Adjusted EBIT plus amortization and impairment charges on PP&E and intangible assets.
Adjusted net income (loss) Net income (loss) excluding special items, accretion on net retirement benefit obligations, certain net gains and losses arising from changes in measurement of provisions and of financial instruments carried at FVTP&L and the related tax impacts of these items.
Free cash flow (usage) Cash flows from operating activities less net additions to PP&E and intangible assets.

Non-GAAP financial measures are mainly derived from the consolidated financial statements but do not have standardized meanings prescribed by IFRS. The exclusion of certain items from non-GAAP performance measures does not imply that these items are necessarily non-recurring. Other entities in our industry may define the above measures differently than we do. In those cases, it may be difficult to compare the performance of those entities to ours based on these similarly-named non-GAAP measures.

Adjusted EBIT, adjusted EBITDA and adjusted net income (loss)
Management uses adjusted EBIT, adjusted EBITDA and adjusted net income (loss) for purposes of evaluating underlying business performance. Management believes these non-GAAP earnings measures in addition to IFRS measures provide users of our Financial Report with enhanced understanding of our results and related trends and increases the transparency and clarity of the core results of our business. Adjusted EBIT, adjusted EBITDA and adjusted net income (loss) exclude items that do not reflect our core performance or where their exclusion will assist users in understanding our results for the period. For these reasons, a significant number of users of the MD&A analyze our results based on these financial measures. Management believes these measures help users of MD&A to better analyze results, enabling better comparability of our results from one period to another and with peers.

Free cash flow (usage)
Free cash flow is defined as cash flows from operating activities less net additions to PP&E and intangible assets. Management believes that this non-GAAP cash flow measure provides investors with an important perspective on the Corporation’s generation of cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long-term value creation. This non-GAAP cash flow measure does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. Management uses free cash flow as a measure to assess both business performance and overall liquidity generation.

Reconciliations of non-GAAP financial measures to the most comparable IFRS financial measures are provided in the table hereafter, except for the following reconciliations:

  • adjusted EBIT to EBIT – see the Consolidated results of operations section; and
  • free cash flow usage to cash flows from operating activities – see the Free cash flow usage table in the Liquidity and capital resources section in the MD&A.
   Reconciliation of adjusted EBITDA to EBIT(1)
Three-month periods
ended March 31

2021 2020
EBIT $ 19 $ 105
Amortization 94 77
Impairment charges on PP&E and intangible assets(2) 3 11
Special items excluding impairment charges on PP&E and intangible assets(2) 7 (107 )
Adjusted EBITDA $ 123 $ 86
(1) Includes continuing operations only.
(2) Refer to the Consolidated results of operations section for details regarding special items.

SALE OF THE TRANSPORTATION BUSINESS TO ALSTOM SA

On September 16, 2020, the Corporation, Alstom and CDPQ and certain related parties signed a definitive sale and purchase agreement for the sale of the Transportation business through the sale of the entire issued share capital of BT Holdco (“SPA”). On January 29, 2021, the Corporation closed the sale of the Transportation business to Alstom.

See Note 21 – Commitments and contingencies, to our interim consolidated financial statements, for more information regarding the indemnities and guarantees related to the sale of Transportation.

The transaction resulted in a gain of $5,321 million reflected in net income from discontinued operations.

For details, refer to Note 17 – Disposal of businesses, to our interim consolidated financial statements.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements, which may involve, but are not limited to: statements with respect to our objectives, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contribution thereto, targets, goals, priorities, market and strategies, financial position, financial performance, market position, capabilities, competitive strengths, credit ratings, beliefs, prospects, plans, expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry; customer value; expected demand for products and services; growth strategy; product development, including projected design, characteristics, capacity or performance; expected or scheduled entry-into-service of products and services, orders, deliveries, testing, lead times, certifications and execution of orders in general; competitive position; expectations regarding revenue and backlog mix; the expected impact of the legislative and regulatory environment and legal proceedings; strength of capital profile and balance sheet, creditworthiness, available liquidities and capital resources, expected financial requirements, and ongoing review of strategic and financial alternatives; the introduction of, productivity enhancements, operational efficiencies, cost reduction and restructuring initiatives, and anticipated costs, intended benefits and timing thereof; the anticipated business transition to growth cycle and cash generation; expectations, objectives and strategies regarding debt repayment, refinancing of maturities and interest cost reduction; expectations regarding availability of government assistance programs, compliance with restrictive debt covenants; expectations regarding the declaration and payment of dividends on our preferred shares; intentions and objectives for our programs, assets and operations; and the impact of the COVID-19 pandemic on the foregoing and the effectiveness of plans and measures we have implemented in response thereto; and expectations regarding gradual market and economic recovery in the aftermath of the COVID-19 pandemic. As it relates to the sale of the Transportation business to Alstom, this press release also contains forward-looking statements with respect to the benefits of such transaction, the use of the proceeds derived from the transaction and its impact on our outlook, guidance and targets, operations, infrastructure, opportunities, financial condition, business plan and overall strategy.

Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “shall”, “can”, “expect”, “estimate”, “intend”, “anticipate”, “plan”, “foresee”, “believe”, “continue”, “maintain” or “align”, the negative of these terms, variations of them or similar terminology. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of our current objectives, strategic priorities, expectations, outlook and plans, and in obtaining a better understanding of our business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

By their nature, forward-looking statements require management to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecast results set forth in forward-looking statements. While management considers these assumptions to be reasonable and appropriate based on information currently available, there is risk that they may not be accurate. The assumptions underlying the forward-looking statements made in this press release include the following material assumptions: the deployment of the proceeds from the sale of the Transportation business to Alstom on terms allowing the Corporation, when combined to other financing sources and free cash flow generation, to repay or otherwise manage its various maturities for the next three years; growth of the business aviation market and increase of the Corporation’s share of such market; proper identification of recurring cost savings and executing on our cost reduction plan; optimization of our real estate portfolio, including through the sale or other transaction in respect of real estate assets on favorable terms; and access to working capital facilities on market terms. For additional information, including with respect to other assumptions underlying the forward-looking statements made in this press release, refer to the Forward-looking statements — Assumptions section in the MD&A of our financial report for the fiscal year ended December 31, 2020 which may be viewed on SEDAR at www.sedar.com. Given the impact of the changing circumstances surrounding the COVID-19 pandemic and the related response from the Corporation, governments (federal, provincial and municipal), regulatory authorities, businesses, suppliers, customers, counterparties and third-party service providers, there is inherently more uncertainty associated with the Corporation’s assumptions as compared to prior years.

Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with the financial condition of business aircraft customers; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business ; order backlog; the transition to a pure-play business aviation company; the certification of products and services; the execution of orders; pressures on cash flows and capital expenditures based on seasonality and cyclicality; execution of our strategy, productivity enhancements, operational efficiencies, restructuring and cost reduction initiatives; doing business with partners; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial debt and interest payment requirements; restrictive debt covenants; reliance on debt management and interest cost reduction strategies; and reliance on government support), market risks (such as foreign currency fluctuations; changing interest rates; increases in commodity prices; and inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A which may be viewed on SEDAR at www.sedar.com. Any one or more of the foregoing factors may be exacerbated by the ongoing COVID-19 outbreak and may have a significantly more severe impact on the Corporation’s business, results of operations and financial condition than in the absence of such outbreak. As a result of the current COVID-19 pandemic, additional factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to: risks related to the impact and effects of the COVID-19 pandemic on economic conditions and financial markets and the resulting impact on our business, operations, capital resources, liquidity, financial condition, margins, prospects and results; uncertainty regarding the magnitude and length of economic disruption as a result of the COVID-19 outbreak and the resulting effects on the demand environment for our products and services; uncertainty regarding market and economic recovery in the aftermath of the COVID-19 pandemic; emergency measures and restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions; disruptions to global supply chain, customers, workforce, counterparties and third-party service providers; further disruptions to operations, orders and deliveries; technology, privacy, cyber security and reputational risks; and other unforeseen adverse events.

Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and undue reliance should not be placed on forward-looking statements. Other risks and uncertainties not presently known to us or that we presently believe are not material could also cause actual results or events to differ materially from those expressed or implied in our forward-looking statements. The forward-looking statements set forth herein reflect management’s expectations as at the date of this press release and are subject to change after such date. Unless otherwise required by applicable securities laws, we expressly disclaim any intention, and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

 

JW Player Acquires VUALTO to Strengthen Its Comprehensive Video Platform for Success in the Digital Video Economy

The merger combines complementary video offerings to empower established and emerging broadcasters with independence and control, as digital video becomes a must-have for all organizations.

NEW YORK and PLYMOUTH, United Kingdom and AMSTERDAM, The Netherlands, May 06, 2021 (GLOBE NEWSWIRE) — JW Player, the leading video software and data insights platform, today announced it is acquiring VUALTO, a leading provider of live and on-demand video streaming and Digital Rights Management (DRM) solutions. The acquisition deepens JW Player’s already robust offering to global broadcasters and further accelerates its vision to empower customers with independence and control in today’s Digital Video Economy by offering easy-to-use, scalable video technology.

This acquisition arrives as the consumption of digital video continues its push to the mainstream. Video now comprises over 80% of all traffic on the internet, and according to JW Player data, people are consuming over two hours of digital video each day, a 40% increase since the beginning of 2020. As a result, a digital video strategy has become a ‘must have’ not only for broadcasters and media companies, but also for organizations of all types, including for JW Player customers in fitness (Centr app), e-commerce (Tag Heuer), sports (Miami Heat) and e-learning (GoNoodle), among others. These new entrants have a diverse range of needs and require a scalable and flexible video platform that allows them to connect and engage with their audiences on the screens of their choice. Given these dynamics, the addressable market will grow from $14B today to $50B by 2027, a 20% CAGR.

“Over the past two years, digital video has become ubiquitous. We now live in the Digital Video Economy, and as a platform company that empowers our customers with independence and control, JW Player is uniquely positioned to succeed in this environment,” said Dave Otten, CEO and co-founder of JW Player. “Joining forces with VUALTO further solidifies our position. Their world-class technology stack expands our platform to include broadcast-level live streaming and content protection services, which are critical for today’s customers. We could not be more excited about this partnership and look forward to innovating together with the highly-talented VUALTO team.”

JW Player’s platform combines highly-scalable video delivery with data insights from 2.7 billion unique monthly devices to help its customers achieve their business goals with video. VUALTO complements JW Player’s offering with market-leading, high-end live streaming and DRM services for broadcasters. The combined result is a single platform for high-quality live and on-demand video delivery across mobile, web and OTT platforms; secure content delivery; and unique insights, intelligence and monetization features to help customers grow their revenue.

Camilla Young, CEO and co-founder, VUALTO, said, “This is a huge growth opportunity for us as a business, as well as for our team. Our successful partnership with JW Player over the past year has given our teams the opportunity to successfully go-to-market under real-world circumstances. Through this, a natural culture match between our teams has already developed, which gives us incredible confidence that together we will be hugely successful. As we embark on this new chapter, our commitment to our existing broadcast customers and our DRM service remains, and we will continue to provide the same high level of support and service that our customers have come to expect from VUALTO.”

VUALTO will expand JW Player’s customer base with prominent customers in the European market and elsewhere, including ITV, the UK’s most popular commercial TV channel, French national public broadcaster France TV, and the European Parliament. These broadcasters join over 12,000 media companies already using the JW Player platform, including broadcasters such as FOX, BBC, CNBC, EuroSport and VICE.

About JW Player
JW Player is the leading video software and data insights platform that gives customers independence and control in today’s Digital Video Economy. Started in 2008 as a hugely popular open source video player, JW Player ’s technology platform now powers digital video for hundreds of thousands of businesses, including half of the comScore top 50 sites in the US, leading broadcasters across EMEA, APAC and Latin America. Each month 1 billion viewers, or one third of all people on the Internet, consume video on JW Player’s technology across 2.7 billion devices, creating an unmatched and powerful consumption and contextual data graph that helps customers grow audiences and generate incremental video from digital video. The company is headquartered in New York, with offices in London and Eindhoven, visit http://www.jwplayer.com.

About VUALTO
VUALTO are experts in cloud-based OTT Video Delivery & Orchestration, developing streaming solutions on a global scale. With three products, the VUALTO CONTROL HUB (VCH) video orchestration tool, CLIP2VU live & VOD video clipping & syndication tool, and VUDRM Digital Rights Management, VUALTO deliver an adaptable, scalable & intelligent video delivery solution, taking your content from camera, right through to your chosen users, on multi devices. Working globally, VUALTO develops video solutions for a host of industries to include: Broadcasters, Sports, Governments, Media & Entertainment, OTT Service Providers and Telecoms & Operators. To learn more, please visit www.VUALTO.com.

Contact: videosuccess@VUALTO.com

JW Player Media Contact:
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PEPTOMYC SL Announces Treatment of First Patient with its Lead Compound OMO-103 in a Phase I/II Clinical Trial

BARCELONA, Spain, May 06, 2021 (GLOBE NEWSWIRE) — Peptomyc, a Spanish clinical stage biotech company spin-off of the Vall d’Hebron Institute of Oncology (VHIO) and the Catalan Institute of Research and Advanced Studies (ICREA) in Barcelona, reported that on Tuesday 4th May the first patient has been dosed with OMO-103, its anti-MYC lead compound, in a Phase I/II study, under the supervision of Dr. Elena Garralda at the Hospital Universitari Vall d’Hebron in Barcelona.

Patients with advanced solid tumors are currently being enrolled in 3 Spanish sites for a Phase I clinical study: the Hospital Universitari Vall d’Hebron in Barcelona, and the Hospital Universitario HM Sanchinarro and Hospital Fundación Jimenez Diaz in Madrid.
In the Phase II part of the study, which will expand to additional hospital sites in Europe, at least 3 specific tumor entities will be included in the trial: TNBC, KRAS-mutated NSCLC and RAS-mutated CRC. The entire Phase I/II study will enroll up to 74 patients.
The objective of this first in human Phase I/II study is to evaluate the safety of OMO-103, as well as its preliminary anti-tumor efficacy.

Peptomyc’s CMO Manuela Niewel said, “We are thrilled to see our first patient already treated with OMO-103 and do hope that the safety and efficacy we saw preclinically will now translate into real benefit for our patients.”

Peptomyc’s CEO and co-founder Laura Soucek, whose research work has been seminal for the development of OMO-103, commented: “Most cancer researchers dream of one day seeing their hard work at the bench finally impacting the clinical practice. This is our chance to do so and I have high expectations and hope for this study.”

Finally, Dr. Elena Garralda, Director of the Research Unit for Molecular Therapy of Cancer (UITM) “la Caixa” and Principal Investigator of VHIO’s Early Clinical Drug Development Group, said: “Myc is a most wanted target in cancer therapy, but has always been considered impossible to attack with targeted therapies, so this trial is particularly interesting. If we confirm that the treatment is effective, it could be applied to many types of cancer.”

PEPTOMYC S.L

Office phone +34 932 543 450 (ext. 8636)
Centre CELLEX – C/ Natzaret, 115-117 – Barcelona, Spain, 08035

ไฮไลต์เหตุการณ์สำคัญของการเติบโตของ InvestorBrandNetwork (IBN) ในปี 2021

นิวยอร์ก, May 06, 2021 (GLOBE NEWSWIRE) — ผ่านทาง InvestorWire – InvestorBrandNetwork (“IBN”)ซึ่งเป็นหน่วยงานแห่งนวัตกรรมด้านการสื่อสารองค์กรและผู้จัดจำหน่ายเนื้อหาที่หลากหลายได้ประกาศการเติบโตครั้งสำคัญในช่วงต้นปี 2021

IBN มีการเติบโตอย่างต่อเนื่องนับตั้งแต่เปิดตัวแพลตฟอร์มการสื่อสารแบรนด์แรกในปี 2006 ปัจจุบันนี้แพลตฟอร์ม IBN Investor Brand อ้างถึงกลุ่มแบรนด์ที่มีกว่า 50 แบรนด์พร้อมกลุ่มผู้ชมสื่อสังคมออนไลน์ซึ่งรวมถึงผู้ติดตามนับล้านคนและเครือข่ายพันธมิตรที่กว้างใหญ่ของคู่ค้าร่วมที่สำคัญกว่า 5,000 ราย ประวัติการดำเนินธุรกิจที่ผ่านการพิสูจน์แล้วของบริษัทที่ให้บริการแก่พันธมิตรลูกค้ากว่า 500 รายแสดงให้เห็นถึงข้อเสนอคุณค่าที่เป็นเอกลักษณ์ของบริษัทที่ดำเนินงานในอุตสาหกรรมต่าง ๆ อย่างกว้างขวาง

InvestorBrandNetwork (IBN) มีความยินดีที่จะประกาศเหตุการณ์สำคัญล่าสุดดังต่อไปนี้:

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ด้วย NetworkNewsWire (“NNW”) และแบรนด์ในเครือ IBN มีการจัดหาสิ่งต่อไปนี้ให้ (1) การเข้าถึงเครือข่ายโซลูชันการเชื่อมต่อผ่าน InvestorWire เพื่อเข้าถึงตลาด อุตสาหกรรม และกลุ่มประชากรเป้าหมายทั้งหมดอย่างมีประสิทธิผลสูงสุด (2) การเผยแพร่บทความและการรวบรวมข่าวสารไปยังแหล่งข่าวกว่า 5,000 แห่ง (3) โซลูชันข่าวประชาสัมพันธ์ที่ได้รับการปรับปรุงเพื่อให้แน่ใจว่าจะเกิดอิทธิพลสูงสุด (4) การเผยแพร่อย่างเต็มรูปแบบไปยังผู้ชมสื่อสังคมออนไลน์ที่เพิ่มขึ้น (5) โซลูชันการสื่อสารองค์กรที่ครบครัน และ (6) โซลูชันการรายงานข่าวทั้งหมด

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Malaysians in north and west India to be brought back home – Hishammuddin

— The government is to conduct a special repatriation mission to bring home Malaysians from the northern and western region of India as the country set another new record in daily new COVID-19 cases and fatalities today.

Malaysian Foreign Minister Datuk Seri Hishammuddin Tun Hussein said the mission will be conducted with the cooperation of the National Disaster Management Agency (NADMA) and Health Ministry using a specially chartered aircraft from Malaysia.

“The aircraft will depart to New Delhi and Mumbai, India as soon as all related arrangements including the approval from the Indian government for the special flight,” he said in a statement issued by the Malaysian Foreign Ministry on Thursday.

Hishammuddin said the decision to bring them back was made jointly by all the agencies involved taking into account the observations and the analysis by the Malaysian missions in India.

Those who will be returning include home based staff from the various Malaysian agencies and their dependents and all will have to undergo COVID-19 test before leaving India and also upon arrival in Malaysia.

“Apart from that, they are also required to undergo 14-day quarantine at the centres appointed by the government,” he said.

Hishammuddin said Malaysians at the northern and western region of India keen in joining the repartriation flight should register with the Malaysian High Commission in New Delhi and the Malaysian Consulate General in Mumbai through email mwdelhi@kln.gov.my or mwmumbai@kln.gov.my, the latest by 5 pm May 7 (Friday) Indian time.

He reminded all Malaysians in both Indian regions to keep in contact with the High Commission and the Consulate General for the latest information relating to the mission or for consular assistance.

Hishammuddin also pointed out the southern and the eastern region of the country is not included in the repatriation mission as the situation there is still under control.

Wisma Putra through its Consulate General in Chennai will continue monitoring the situation in both regions and evaluate the situation to ensure the safety and wellbeing of Malaysians there.

“The repatriation mission is the continuous effort and commitment of the government in ensuring the wellbeing of Malaysians overseas,” he said.

Hishammuddin recalled that the same mission was carried out during the initial stages of the COVID-19 pandemic outbreak last year where Malaysians were successfully repatriated from Wuhan, China, Iran and Italy.

India set a new global record Thursday after the country registered its biggest single-day rise in coronavirus cases of over 412,000 in the last 24 hours.

The Health Ministry reported 412,262 new cases, taking the country’s total number of infections to over 21 million. With a record 3,980 new fatalities, the death toll reached 230,168.

Source: BERNAMA News Agency