Month: November 2021

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Singapore, Malaysia ease Covid curbs at busy border crossing

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Relaxnews

Singapore and Malaysia eased coronavirus travel restrictions on one of the world’s busiest land borders Monday after nearly two years, allowing some vaccinated people to cross without quarantine. Before the pandemic, about 300,000 people used to commute across the border from Malaysia every day to the neighbouring city-state, to work in areas ranging from public transport to electronics manufacturing. But most travel was abruptly halted in March last year, leaving many who previously commuted, and other Malaysians in Singapore, effectively stuck there as they needed to continue working. From M… Continue reading “Singapore, Malaysia ease Covid curbs at busy border crossing”

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Jeito Capital co-leads $156 million oversubscribed Series B financing in Quell Therapeutics

Jeito Capital co-leads $156 million oversubscribed Series B financing in Quell Therapeutics

  • Quell Therapeutics is the world leader in developing engineered T-regulatory (Tregs) cell therapies for serious medical conditions driven by the immune system.
  • Jeito continues to build a strong portfolio of companies with groundbreaking therapies in areas of high unmet need.

Paris, France, 29 November 2021 – Jeito Capital (“Jeito”), a leading independent private equity firm dedicated to biotech and biopharma, today announces that it has co-led a $156 million oversubscribed Series B financing round in Quell Therapeutics (“Quell”), the world leader in the development of engineered T-regulatory (Treg) cell therapies for serious medical conditions driven by the immune system.

Jeito co-led the financing with Ridgeback Capital Investments and SV Health Investors and Fidelity Management & Research Company, with participation from founding investor Syncona and new investors including British Patient Capital through its Future Fund: Breakthrough program, Janus Henderson Investors, Monashee Investment Management, Point72 and funds managed by Tekla Capital Management LLC. Rachel Mears, Partner at Jeito Capital, will join Quell’s Board of Directors.

Quell is harnessing the full power of Tregs, known as the “master modulators” of immune homeostasis, to create novel cell therapies designed to suppress overactive immune responses, drive long-term tolerance in the local immune environment and promote tissue repair.

Proceeds from the financing will be used to fund the LIBERATE Phase 1/2 clinical trial of QEL-001, Quell’s first-in-class antigen-specific multi-modular CAR-Treg cell therapy candidate designed to prevent organ rejection in liver transplant patients by inducing durable immune tolerance and eliminating the need for lifelong immunosuppression. QEL-001 is on track to become the first multi-modular engineered CAR-Treg cell therapy in clinical development, with patient recruitment expected to begin before the end of the year. Funds will also be used to advance the company’s pipeline in core therapeutic areas of transplantation, neuroinflammatory diseases and autoimmune diseases, as well as accelerate the development of Quell’s autologous multi-modular engineered Treg platform and further develop an allogeneic CAR-Treg platform.

Quell’s versatile platform technology enables the company to design, engineer, and manufacture at scale Treg products with greater stability, persistence, and potency than earlier generations. Key elements of this technology include its proprietary Foxp3 Phenotype Lock technology, which enables Quell to “lock” Tregs in an immunosuppressive phenotype that enhances their safety, stability, and efficacy; chimeric antigen receptor (CAR) modules for tissue targeting; and additional modules to enhance disease-specific efficacy and safety.

The company, which is based in London, U.K., with an office in Boston, Mass., U.S., is led by Chief Executive Officer Iain McGill, a leading pharmaceutical executive with extensive relevant experience, having spent most of his 25 years in the industry in immunology, including the areas of solid organ and cell transplantation, at global pharmaceutical companies such as Jazz Pharmaceuticals, Roche, and Novartis. Quell recently strengthened its executive leadership team with key appointments, including Dominik Hartl as Chief Medical Officer and Tracey Lodie as Chief Scientific Officer.

Rafaèle Tordjman, Founder and CEO at Jeito, said: “Our investment in Quell is testament of our ambition to continue building a strong portfolio of companies with the potential of becoming market leaders. Following the recent closing of our first fund, Jeito I, at €534 million ($630 million), we are pleased to have co-led this financing round alongside many prestigious investors in the US and the UK. With its high-quality science, expert leadership team, strong syndicate of investors and significant capital, Quell is ideally positioned to accelerate its therapies through clinical development for the benefit of millions of patients.”

Rachel Mears, Partner at Jeito, said: “We have been impressed with Quell’s science, its team, ambitious strategy, and commitment to accelerating the delivery of truly innovative and life-changing therapies for patients across autoimmune and inflammatory diseases and in organ transplant rejection, for which there is a high unmet need. Quell has made significant progress since the company’s creation in 2019 and we are excited to be working closely with the team, providing continuous support and expertise, as they progress their first enhanced Treg cell therapy candidate into clinical development.”

Iain McGill, Chief Executive Officer of Quell Therapeutics, said: “We are proud to have the support of this high-quality syndicate of investors as we drive forward to our next stage of growth. With this financing, we have the full suite of capabilities – capital, cutting-edge science, and a world-class team – to advance our pipeline and platform to key milestones on our path to ultimately deliver potentially transformative therapies to patients suffering from diseases caused by immune dysregulation.”

About Jeito Capital
Jeito Capital is a global leading investment company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports entrepreneurs through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access in Europe & the United States. Jeito Capital has €534 million under management. Jeito Capital is based in Paris with a presence in Europe and the United States. For more information, please visit www.jeito.life, or follow on Twitter @Jeito_life or LinkedIn.

About Quell Therapeutics

Quell Therapeutics is the world leader in developing engineered T-regulatory (Treg) cell therapies that aim to harness, direct and optimize their immune suppressive properties to address serious medical conditions driven by the immune system.

The Company is leveraging its pioneering phenotype lock technology, unique multi-modular platform and integrated manufacturing capabilities to design and develop a pipeline of highly engineered Treg cell therapies with greater potential for stability, persistence and potency than earlier generations of Treg cell therapy approaches.

Quell’s lead candidate QEL-001 is being developed to induce operational tolerance following liver transplantation, with the potential to protect the post-transplant liver without the need for chronic immunosuppressive medications. Quell is also advancing additional programs in neuroinflammatory and autoimmune diseases. www.quell-tx.com.

For more information please contact:

Consilium Strategic Communications

Mary-Jane Elliott / Melissa Gardiner / Davide Salvi / Kris Lam

Jeito@consilium-comms.com

Tilder (French PR)

Marion Bougeard
m.bougeard@tilder.com

Hynd Boumehdi
h.boumehdi@tilder.com
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UAE’s GreenDome Investments Acquires Elite Co. in Multi-Million Dollar Middle East Logistics Deal

UAE’s GreenDome Investments Acquires Elite Co.

UAE’s GreenDome Investments Acquires Elite Co.

DUBAI, United Arab Emirates, Nov. 28, 2021 (GLOBE NEWSWIRE) — GreenDome Investments announced today that it has closed on the acquisition of Elite Co. from Prama Holdings. Elite Co. is a leading fully integrated land freight and courier solutions providers in the Middle East. The transaction represents one of the region’s largest acquisitions in the logistics market and is the first of many acquisitions by GreenDome Investments, a logistics investment vehicle owned by regional industry leaders.

“The acquisition of Elite Co. represents our first transaction as we embark on a journey to build an integrated, customer-centric and technology-focused end-to-end global logistics services business. We intend to support the region’s fast-paced economies while expanding our offering beyond the Middle East,” said Saadi Abdul Rahim Hassan Al Rais, Chairman of GreenDome Investments and Managing Director of Rais Hassan Saadi Group.

Elite Co., founded in the 1990s, is a highly specialized overland freight and courier services business and has state-of-the-art operations and assets across Oman, Bahrain, Qatar and the United Arab Emirates, with its regional hub in Dubai. It has over 1000 staff, 600 trucks and 100,000 square feet of warehouse capacity.

“We are humbled by what we have built over the past twenty years and we could not have found a better-suited investor to take Elite Co. into its next phase of its growth. GDI’s ambition to build a regional end-to-end logistics champion with global reach is inspiring and we are pleased that Elite will be the foundation from which this vision is realized,” said Roney Malhotra, outgoing CEO of Elite Co. and Chairman of Prama Holdings.

GreenDome Investments, headquartered in Dubai, aims to build an integrated logistics services powerhouse to tap into the Middle East and the world’s growing logistics and e-commerce industry. The company is backed by regional industry leaders, including UAE-based Rais Hassan Saadi Group and the Sharaf Group, and Logipoint, a subsidiary of Saudi Industrial Services Company, SISCO, a listed company on the Saudi Arabia stock exchange.

“We see tremendous opportunity in the Middle East, as well as the broader global logistics industry, and we intend to leverage our decades of experience and expertise to build, through M&A, a globally integrated freight, courier, and contract logistics businesses,” said Mohammed Sharaf, former Group CEO of DP World and CEO of GreenDome Investments.

“We aim to offer unparalleled services to regional and global markets, while we support partners and customers to unlock and create value. In addition, the growing e-commerce sector, both regionally and globally, represents an important growth segment we intend to capitalize on,” added Sharaf.

“Elite Co. is well positioned to capitalize on the projected growth in the e-commerce sector as well as the broader express courier market, both in the Middle East and around the world. We will capture value from the industry’s growth by strengthening our network and offering, while also exploring global growth opportunities,” said Hisham Albahar, Incoming CEO of Elite Co.

“With the fourth industrial revolution upon us, we expect to see significant disruption and opportunity in the end-to-end logistics industry, and we intend to build on Elite Co.’s existing technology and expertise to improve efficiency, drive down costs and offer customer-centric solutions. Importantly, we will work closely with partners and customers to unlock value through sophisticated digital ecosystems to optimize supply chains,” added Albahar.

Press Contact: media@elite-co.com

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Image 1: UAE’s GreenDome Investments Acquires Elite Co.

Saadi Al Rais, GDI Chairman; Roney Malhotra, Chairman of Prama Holdings; Mohammed Sharaf, GDI CEO, Hisham Albahar, Incoming Elite CEO

This content was issued through the press release distribution service at Newswire.com.

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COVID: 73,653 of Selangor adolescents yet to be vaccinated – Exco

SHAH ALAM, Nov 29 — About 73,653 adolescents, aged 12 to 17, in Selangor have yet to receive COVID-19 vaccinations, out of the total adolescent population of 569,100, the State Legislative Assembly was told today.

State Public Health, Unity, Women and Family Development Committee chairman, Dr Siti Mariah Mahmud, said that 495,447 individuals from the group have received at least one dose of the vaccine.

She said this in reply to a question by Elizabeth Wong Keat Ping (PH-Bukit Lanjan) who wanted to know the number of people in Selangor, aged 12 and above, who have not been vaccinated.

Dr Siti Mariah said that vaccination administration for the group was still in process with all agencies, including the state education department, district education offices and non-governmental organisations (NGOs).

“For those teenagers who face difficulties in going to vaccination centres, such as teens who do not attend school, Orang Asli teens, or those in rehabilitation centres or shelter homes, the vaccines will be administered via outreach programmes,” she explained.

Meanwhile, as for youths, aged 18 and above, Dr Siti Mariah said that an estimated total of 275,237 have yet to be vaccinated, while 4.27 million have received at least one dose, of the total group population of 4,551,800.

“A small proportion of those unvaccinated are those classified as people who cannot receive, or have contraindications to the COVID-19 vaccine, while the rest are those who reject the vaccine,” she said.

She added out of 22,314 civil servants, only 132, or 0.59 per cent, across 43 state departments and agencies remain unvaccinated, as of Nov 16.

Source: BERNAMA News Agency

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Domestic violence cases continue to rise in Selangor

SHAH ALAM, Nov 29 — The number of domestic violence cases in Selangor shows an increase this year with 1,519 cases reported from January until October compared to 1,349 cases recorded last year.

State Public Health, Unity, and Women and Family Development Committee chairman, Dr Siti Mariah Mahmud said that 951 cases were recorded in 2018 and 1,159 in 2019.

“Following the increase in cases, the state government has taken some initiatives including creating the SELamat hotline for the public to complain on the domestic violence cases happening, particularly in Selangor.

“This has been operating since Nov 1 and until Nov 24, the SELamat line received 14 calls with seven of these involving psychological, physical and economic abuse,” she said to a question from Juwairiya Zulkifli (PH-Bukit Melawati) on the issue at the Selangor State Legislative Assembly sitting, here, today.

“All the calls received were non-emergency ones as the reason to call the line was to obtain counselling to help them manage their emotions,” she added.

Dr Siti Mariah said the SELamat line gave the callers, the choice of obtaining face-to-face or online counselling or further intervention from non-governmental organisations and the Sahabat line’s qualified counsellors under the Counselling Centre, Office of the Selangor State Secretary.

The 24-hour SELamat phone line at 03-64195027 is under the supervision of Wanita Berdaya Selangor (WBS), which shares information on this line on its Facebook and Instagram, Pusat Wanita Berdaya (PWB) in Selangor’s 56 state constituencies and partner offices to spread awareness and advocacy on the issue of domestic violence.

Source: BERNAMA News Agency

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Only 86 per cent of 8,500 buildings nationwide have fire certificates – JBPM DG

MELAKA, Nov 29 — About 86 per cent out of 8,500 buildings nationwide have obtained the Malaysian Fire and Rescue Department’s (JBPM) fire certificates (FC), said its director-general Datuk Seri Mohammad Hamdan Wahid.

These buildings comprised government buildings, industrial and commercial premises, shopping malls, hotels and office buildings.

Mohammad Hamdan said the buildings needed to be inspected and tested for safety in order to be issued with the FC, which has to be renewed every year, in line with the requirements of the Fire Services Act 1988 (Act 341).

“States such as Kuala Lumpur, Selangor, Penang, Johor, Sabah and Sarawak have more buildings that need to be inspected in order to obtain the FCs.

“The building should have a fire risk that exceeds certain levels classified under Act 341, and this is important (because) in the event of an emergency, the fire can be prevented or controlled at an early stage,” he told reporters after the presentation of JBPM excellent service awards in Kota Laksamana here, today.

Mohammad Hamdan said some of the buildings were still being inspected as there was a delay in the process due to the implementation of the Movement Control Order.

“We have issued a notice to conduct the inspection but some of them requested a postponement because they want to carry out repair works to the buildings in order to meet the FC requirements,” he said.

At the ceremony, Mohammad Hamdan also presented a takaful scheme and a contribution of RM194,000 to Noraida Che Nor, the widow of the late Mohd Diya Che Jusoh, a firefighter who died after losing consciousness during a flood rescue operation.

Source: BERNAMA News Agency

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Nine ministries achieve five-star rating for National Month celebration 2021

PUTRAJAYA, Nov 29 — Nine ministries achieved five-star rating for the ‘Program Keceriaan’ (Cheery Programme) among ministries in conjunction with the National Month celebration 2021.

The event, held for the first time and organised by the Ministry of Communications and Multimedia (KKMM), focused on creating a cheerful atmosphere during the celebration, as well as creative ways of flying the Jalur Gemilang at the ministries’ premises.

At the Information Department’s (Japen) appreciation ceremony today, KKMM secretary-general Datuk Seri Mohammad Mentek said the ‘Program Keceriaan’ was also aimed at raising the minisries’ commitment to fostering love for the country.

“Based on the encouraging response, this programme will be continued next year to also give the opportunity to other ministries to raise the star rating,” he added.

Among the ministries that achieved five-star rating were the Ministry of Transport, Ministry of Finance, Ministry of Youth and Sport, and Ministry of Education.

Fourteen ministries achieved four-star rating and three ministries, three-star rating.

The programme was held from Aug 1 to Sept 16, with the evaluation and scoring based on the video recordings and photographs submitted to Japen as the secretariat, as well as creativity, attractiveness and added value, such as ‘pantun’ and involvement of the ministries’ officials.

Source: BERNAMA News Agency