Category: Press Releases

LONDON, Jan. 10, 2024 (GLOBE NEWSWIRE) — Emerging Markets Global Advisory LLP (EMGA), an investment bank specializing in emerging markets, has successfully secured a commitment for USD 30.0 million in senior debt finance for Citizens Development Business Finance PLC (CDB) based in Sri Lanka. EMGA originated, structured, and negotiated this financing arrangement, with the financial support provided by the U.S. International Development Finance Corporation (DFC).

Sajeev Chakkalakal, EMGA’s Head of Investment Banking commented, “Despite the challenges we faced, we are delighted to have delivered again an innovative funding solution for CDB. We believe this marks a significant milestone, in being the first external funding commitment secured for a Sri Lankan NBFI in several years. It will also allow for CDB to continue to support SMEs, including female-owned enterprises, as well as the renewable energy sector in the country.”

Jeremy Dobson, EMGA’s Chief Operating Officer commentated, “CDB’s strong financial standing enabled EMGA to navigate the prevailing macroeconomic headwinds in Sri Lanka to secure the commitment for this funding. This achievement not only underscores EMGA’s expertise in navigating complex financial landscapes, but also highlights the successful collaboration between EMGA, CDB, and DFC in setting a positive precedent for a leading Sri Lankan financial institution to secure external funding in challenging economic climates.”

Maryam Khosharay, DFC’s Deputy Vice President of the Office of Development Credit commented, “We are very glad to continue DFC’s commitment to bolstering investments in Sri Lanka especially those advancing financing for women and green assets in times of economic difficulty and high energy prices.”

Commenting on the transaction, Director Corporate Finance of CDB Roshan Abeygoonewardena opined that CDB has been continually strengthening the bottom of the pyramid as an overarching ethos of its sustainability agenda. “For us women entrepreneurs, especially in the micro and SMEs is where the wheels of the economy turn. Prioritizing women’s empowerment in our business model with access to finance which in turn will spur financial independence and inclusivity will be the panacea in adding fillip to Sri Lanka’s development and economic agenda.”

Emerging Markets Global Advisory LLP (EMGA), based in London and New York helps financial institutions and corporates seeking new debt or equity capital. EMGA’s multi-national team combine the decades of experience necessary to complete transactions within most emerging countries, including Sri Lanka. EMGA continues to expand its geographic reach, solidifying its place as a preeminent, emerging market focused, niche investment bank.

Citizens Development Business Finance PLC (CDB) stands among the five largest non-Bank financial institutions in Sri Lanka and is one of the most innovative financial institutions in the country, with a strong commitment to sustainability, exemplary corporate governance, accountability, and transparency. It is renowned for disrupting the financial services industry with far-reaching technological innovations and cutting-edge financial solutions.

The U.S. International Development Finance Corporation (DFC) is the U.S. Government’s development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.

Contact details
info@emergingmarketsglobaladvisory.com

GlobeNewswire Distribution ID 1000908217

Professor Jerry Mendell and Professor Howard Chang, among other eminent figures, were selected to win the 46th session of the Prize

Riyadh, Saudi Arabia, Jan. 10, 2024 (GLOBE NEWSWIRE) — Professor Jerry Mendell was announced this year’s laureate in King Faisal Prize for Medicine for his groundbreaking contributions to screening, early diagnosis, and treatment of neuromuscular disorders, and Professor Howard Chang was announced this year’s laureate in King Faisal Prize for Science in the field of Biology for his pioneering work in uncovering the significance of long non-coding RNAs in gene regulation and function and his collaborative efforts in advancing genome-wide methodologies to identify DNA regulatory regions. Other laureates’ names were announced to win King Faisal Prize in 2024 for enriching humanity with invaluable achievements and discoveries, and excelling in the fields of Islamic Studies and Serving Islam.

Professor Jerry Mendell’s work lies in the screening, early diagnosis, and treatment of patients with spinal muscular atrophy (SMA), Duchenne muscular dystrophy (DMD), and limb girdle muscular dystrophies. The Prize’s Medicine topic for 2024 was “Management of Peripheral Disabilities”.

Spinal muscular atrophy (SMA) used to be considered the primary genetic contributor to infant mortality. Around 95% of infants that were diagnosed with SMA, did not survive beyond the age of two. Babies with SMA type 1 are missing a gene called survival motor neuron gene 1 (SMN1) which is vital for their development and its absence prevents them from moving, talking, swallowing, and eventually breathing. Professor Mendell, the Director of Gene Therapy Center at Nationwide Children’s Hospital and Curran Peters Chair in Pediatric Research, used gene-therapy to deliver a healthy gene (SMN1) to patients’ cells. He was the first to demonstrate the safety and efficacy of high doses of AAV-mediated gene transfer therapy for individuals diagnosed with SMA type 1. Adeno-associated viral vectors (AAV) are engineered viruses specifically designed to deliver DNA, and in the context of SMA treatment, they carry the genetic encoding of the healthy SMN gene. His therapeutic approach has garnered worldwide approval, and in 2019 the U.S. Food and Drug Administration granted approval for the first-ever gene therapy treatment for pediatric patients under 2 years of age diagnosed with SMA.

Gene-therapy has also been used by Professor Mendell to correct the genetic mutations for patients suffering from the most common form of muscular dystrophy; Duchenne muscular dystrophy (DMD), a progressive neuromuscular disease. In patients with DMD, genetic mutations prevent cells from making dystrophin; a protein responsible for developing and maintaining healthy muscle tissue. While initial symptoms in DMD patients manifest in skeletal muscles, the condition progresses to impact the heart and respiratory functions. Gene therapy serves to rectify this genetic abnormality, enabling the body to generate dystrophin and impede the ongoing degeneration of muscle tissue. In June 2023, the U.S. Food and Drug Administration approved the first treatment for pediatric patients 4-5 years old with DMD using the novel gene-therapy co-invented by Professor Mendell and Professor Louise Rodino-Klapac; a post-doctoral fellow in Mendell’s lab at the time. A single injection treatment involves administering a micro-dystrophin gene into an adeno-associated virus serotype (AAVrh74), facilitating the delivery of missing or corrected genes to cells.

Professor Mendell has been involved in clinical trials for gene therapy for limb-girdle muscular dystrophy (LGMD) including types 2E, 2B, and 2D. LGMD is an umbrella term that represents several rare types of muscular dystrophy that cause muscle weakness in shoulders, upper arms, hips, and upper legs. It is a chronic condition that affects people of all ages. In one of his studies, Prof. Mendell and his team used a single injection of a low dose of a gene therapy vector to address the primary cellular deficit associated with LGMD2B. The approach repaired the injured muscle fibers, reducing degeneration, and enhancing muscle function.

As author of over 400 papers, Prof. Mendell was elected to the National Academy of Medicine in 2021. He was also recognized by the American Society of Gene and Cell Therapy (ASGCT) with a Translational Science Award in his Name. Science Magazine awarded him the Breakthrough Achievement Award in 2017 for SMA Gene Therapy.

As for this year’s Science Prize in the field of Biology, Professor Howard Chang was announced the laureate, for unveiling the intrinsic role of long non-coding RNAs in gene regulation and function, and for his collaborative endeavors in advancing genome-wide methodologies identifying DNA regulatory regions. Such findings are significantly influencing the realms of molecular biology and genetics, contributing to a deeper understanding of intricate human diseases. His research addresses how large sets of genes are turned on or off together, a key point that helps understand normal development, cancer, and aging.

Professor Howard Chang, a physician-scientist, Professor of Dermatology and Genetics, and Virginia and D.K. Ludwig Professor of Cancer Research at Stanford University, has made significant contributions to the field of RNA medicines. His lab’s work has focused on understanding the roles of long noncoding RNAs (a genetic material found in cells) in biological regulation and their potential therapeutic applications. He discovered long sequences of RNA that, in contrast to the better-known messenger (mRNAs) responsible for protein synthesis, do not encode proteins. Prof. Chang discovered that these sequences play a role in influencing DNA accessibility. They act like a magnet for other RNA molecules and alter mRNA splicing, to affect gene expression, among other duties. Despite not encoding proteins, lncRNAs are crucial for controlling the timing and amount of protein production, impacting the overall function and behavior of cells.

In every human cell, 2 meters of DNA are packed in a 10-micron nucleus, so most of the DNA is highly compacted making most of it inaccessible except for the active DNA elements that the cell is using and reading. Discovering the location of these accessible elements provides insights into the cell’s “software”. Prof. Chang’s lab has pioneered techniques to map the landscape of chromatin; the substance that forms chromosomes and consists of DNA and proteins that structure the genome and control gene expression. One groundbreaking technique innovated by Chang’s lab was the Assay of Transposase Accessible Chromatin, which used an enzyme called Tn5 transposase which copies and pastes DNA. This technique led to a million-fold improvement in the sensitivity and hundred-fold improvement in the speed of mapping regulatory DNA – the epigenome- in human cells.

His work unraveled mechanisms and targets in various human diseases, notably cancer, immunity, and development. His recent investigations into extrachromosomal DNA in cancer revealed key findings. Prof. Chang also established the RNA Medicine Program at Stanford, which works to accelerate the discovery and translation of RNA science into human therapeutics.

Prof. Chang’s honors include the NAS Award for Molecular Biology, Outstanding Investigator Award of the National Cancer Institute, Paul Marks Prize for Cancer Research, Judson Daland Prize of the American Philosophical Society, and the Vilcek Prize for Creative Promise. His work was honored by the journal Cell as a Landmark paper over the last 40 years and by Science as “Insight of the decade”.

In addition to Medicine and Science, King Faisal Prize recognized this year the achievements of an outstanding thinker and scholar in the field of Islamic Studies and exemplary leaders who played a pivotal role in serving Islam, Muslims, and humanity at large.

Professor Wael Hallaq, the Avalon Foundation Professor in the Humanities at Columbia University, was selected to receive the “Islamic Studies” prize in “Islamic Legislations and their Contemporary Applications” for 2024. He has provided an academic reference, parallel to the traditional Orientalist writings, that influenced universities around the world. This was evident in his numerous works that were translated into many languages, and his success in establishing a guideline for the development of Islamic legislation.

As for the Service to Islam Prize, the Japan Muslim Association and Dr. Mohammad Sammak, were announced as co-laureates for this year’s 2024 prize.

King Faisal Prize for Arabic Language & Literature for 2024 on the topic of “Non-Arab Institutions and their Endeavors to Promote Arabic” was withheld due to nominated works not elevating to the criteria of the prize.

King Faisal Prize’s laureates names for 2024 were announced today in Riyadh Saudi Arabia, by HRH Prince Turki Alfaisal and the Prize’s Secretary General Dr. Abdulaziz Alsebail. Since 1979, King Faisal Prize in its 5 different categories has awarded 295 laureates who have made distinguished contributions to different sciences and causes. Each prize laureate is endowed with USD 200 thousand; a 24-carat gold medal weighing 200 grams, and a Certificate inscribed with the Laureate’s name and a summary of their work which qualified them for the prize.

Attachments

• Professor Jerry Mendell
• Professor Howard Chang

Maysa Shawwa
King Faisal Foundation
Maysa.Shawwa@kff.com

GlobeNewswire Distribution ID 9015914

Companies partner to provide patients and sites with easy access to study information in one integrated solution

DURHAM, N.C., Jan. 09, 2024 (GLOBE NEWSWIRE) — Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced an industry partnership with founding members Veeva Systems Inc., a leading provider of industry cloud solutions for the global life sciences industry, and Advarra, a leading provider of clinical research technology for clinical research investigator sites and sponsors, to deliver an integrated patient- and site-centric solution that streamlines the clinical trial experience.

In an industry faced with complex challenges to clinical trial execution, Fortrea is establishing an alliance of industry partners—beginning with founding members, Veeva and Advarra—to tackle some of these challenges head-on. Many sites are burdened by administrative operations that have multiple, complex technologies with limited interoperability. This impacts their ability to focus on what matters most—the patients—and improving their recruitment and experience participating in clinical studies.

Fortrea, Veeva and Advarra are partnering to offer a seamless, unified technology solution that integrates best-in-class technologies and leverages Fortrea’s process expertise. This will help ease the administrative burden for patients and sites and increase the accessibility of clinical trials for the public.

“We heard from our Site Advisory Board that the multitude of technologies used on a study is one of their greatest challenges,” said Fortrea Chief Operating Officer and President of Clinical Services Mark Morais. “Working with industry-leading partners and founding members, Veeva and Advarra, we’re taking action to remove complexities so we can address the pain points of sites and patients and make a difference. We are leveraging our unique vantage point in the industry that enables us to layer our expertise over the tech and data ecosystems from best-in-class partners—adding to our alliance as we go—to dramatically simplify the experience for patients, sites and sponsors.”

For sites, the partnership is set to deliver:

• a cloud-based, simplified sign-on experience for Fortrea-run studies
• access to study technologies through a single dashboard
• a unified environment with a single repository for study documents and records

For patients, the solution is being designed to offer:

• easy-to-access, step-by-step, visit-by-visit support and education throughout a patient’s trial journey
• a simplified user experience through a single platform
• self-referral functionality to search and find studies in their disease area of interest
• ongoing patient support and education via an online portal or mobile app
• a simplified mobile and web application for consenting and responding to outcome surveys

“Veeva is helping to advance clinical trials with connected applications that reduce the burden of participating for patients, streamline execution for research sites and increase transparency for sponsors,” said Jim Reilly, vice president, Veeva Development Cloud Strategy. “Extending our partnership with Fortrea to deliver Veeva Clinical Platform applications will meet the unique needs of patients, sites and sponsors while significantly improving study data quality and collaboration with sites.”

“Advarra’s mission is to break the silos that impede clinical research, so we are excited to provide our Longboat solution and IRB services as part of this innovative and collaborative partnership aimed at reducing site and patient burden,” said Elisa Cascade, chief product officer at Advarra.  “By leveraging our Longboat solution, Fortrea will deliver a reimagined clinical research experience that will improve both protocol compliance and site and patient engagement throughout the clinical trial process.”

Learn more about how Fortrea is driving healthcare innovation throughout the world at Fortrea.com. For more information on the technology platforms, visit Veeva Clinical Platform and Advarra Longboat.

About Fortrea

Fortrea (Nasdaq: FTRE) is a leading global provider of clinical development and patient access solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, medical device and diagnostic companies to drive healthcare innovation that accelerates life changing therapies to patients in need. Fortrea provides phase I-IV clinical trial management, clinical pharmacology, differentiated technology-enabled trial solutions and post-approval services. Fortrea’s solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights and a strong investigator site network. Our talented and diverse team of about 19,000 people working in more than 90 countries is scaled to deliver focused and agile solutions to customers globally. Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com and follow us on LinkedIn and X (formerly Twitter) @Fortrea.

Fortrea Contacts:
Fortrea Media: Galen Wilson – 703-298-0802, media@fortrea.com
Fortrea Media: Kate Dillon – 646-818-9115, kdillon@prosek.com

GlobeNewswire Distribution ID 9015283