Stealth BioTherapeutics accelerates the development of a new pipeline candidate into Investigational New Drug enabling studies byleveraging Evotec’s INDiGO platform
BOSTON, Aug. 15, 2018 /PRNewswire/ — Stealth BioTherapeutics (Stealth), a clinical-stage biopharmaceutical company developing a first-in-class platform of novel therapeutic compounds for the treatment of diseases associated with mitochondrial dysfunction, announced today that it is advancing a new pipeline candidate into investigational new drug (IND) enabling studies in collaboration with long-term partner Evotec AG.
Stealth’s nomination of this novel pipeline candidate marks the culmination of a development initiative resulting in a diverse proprietary pipeline of compounds for the treatment of mitochondrial dysfunction arising in the context of both genetic mitochondrial diseases as well as age-related diseases. Stealth’s lead candidate, elamipretide, has received Orphan Drug and Fast Track designation with respect to late stage clinical development efforts in primary mitochondrial myopathy (PMM), Barth syndrome and Leber’s hereditary optic neuropathy (LHON). Stealth is also developing elamipretide for dry age-related macular degeneration, the leading cause of blindness in the elderly. With this new pipeline candidate progressing toward IND, Stealth hopes to broaden its therapeutic horizons to address other areas of unmet medical need.
“We believe that our first-in-class mitochondrial medicines offer a novel approach to the treatment of human disease,” said Reenie McCarthy, chief executive officer of Stealth. “We hope to utilize our deep knowledge of mitochondrial therapeutics to improve the treatment paradigm for patients suffering from genetic diseases involving mitochondrial dysfunction, as well as to potentially extend health span in the context of age-related diseases to which mitochondrial dysfunction is a known contributor.”
Stealth expects to advance its new pipeline candidate to clinical-stage studies by the end of 2019 utilizing Evotec’s INDiGO platform. INDiGO is a market-leading integrated drug development solution that accelerates early drug candidates into the clinic by reducing time from nomination to IND submission, typically in less than 52 weeks. Under the terms of the collaboration, Evotec will be responsible for all preclinical and toxicology/safety studies ahead of clinical trials in 2019.
“Our team at Stealth evaluated all options to help support the progression of our newest pipeline candidate through IND filing, and we are confident that Evotec, with its INDiGO platform and the team of experts they have assembled, is the best option to ensure the rapid and high-quality advancement of the compound,” said Mark Bamberger, chief scientific officer of Stealth.
“Our INDiGO platform reduces time and cost while consistently producing a quality data package for clinical trial agreements and investigational new drug filings,” said Dr. Mario Polywka, chief operating officer of Evotec. “We have a great scientific and personal relationship with Stealth and are excited for the opportunity to continue to help advance their programs.”
About Stealth We are a privately held clinical-stage biotechnology company focused on the development of therapeutics for diseases involving mitochondrial dysfunction. We believe there is a strong rationale for our lead product candidate, elamipretide, in indications in these diseases based on encouraging preclinical and early clinical data. We are investigating elamipretide in three primary mitochondrial diseases – primary mitochondrial myopathy (PMM), Barth syndrome and Leber’s hereditary optic neuropathy (LHON) – for which we have both Fast Track and Orphan Drug designation. We are also investigating elamipretide in dry age-related macular degeneration, the leading cause of blindness in the elderly. We have a broad pipeline of novel mitochondria-targeting compounds we are evaluating for new indications, including neurodegenerative diseases. To learn more information about us and our pipeline, visit www.stealthbt.com.
About Evotec AG Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic to meet the industry’s need for innovation and efficiency in drug discovery. The INDiGO platform is a key value-generating component of Evotec’s broad EVT Execute business and represents a logical extension of its broad discovery platform. INDiGO accelerates early drug candidates into the clinic by reducing time from nomination to regulatory submission in 52 weeks, and under certain circumstances, even less. Accelerated development is achieved by tightly integrating traditional drug development activities into a single project managed under one roof. The program has been proven to reduce time and cost while achieving a quality data package for CTA/IND level regulatory filings. The scale of this capability means that Evotec works on 10-15 INDiGO’s at any one time. For additional information please go to www.evotec.com and follow us on Twitter @EvotecAG.
Forward Looking Statements Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.
Media Relations dna Communications Kate Contreras, 617-520-7088 Media@StealthBT.com
Investor Relations Stern IR Rachel Frank, 212-362-1200 IR@StealthBT.com
– Mundipharma and Helsinn Group expand exclusive licensing and distribution agreement for anti-emetic medicine ALOXI®
– This agreement builds on similar existing arrangements in a range of territories.
SINGAPORE and LUGANO, Switzerland, Aug. 15, 2018 /PRNewswire/ — Mundipharma and Helsinn Group signed a licensing and distribution agreement for the anti-emetic agent ALOXI® in Vietnam, extending an international collaboration.
ALOXI® (palonosetron hydrochloride), a 5-HT3 receptor antagonist was approved in Vietnam. For additional information please see the Product Information.
Chemotherapy-Induced Nausea and Vomiting (CINV) is one of the most common and distressing side effects of cancer chemotherapy. Mundipharma and Helsinn are experts in the CINV field with decades of shared experience and are currently providing medicine to CINV sufferers.
Mundipharma CEO, Raman Singh said, “This important extension of our portfolio in Vietnam offers relief to patients suffering from the side effects of chemotherapy and enables patients and healthcare providers to benefit from our expertise in this area.”
Riccardo Braglia, Helsinn Group Vice Chairman and CEO, commented: “Helsinn and Mundipharma have an effective, longstanding partnership and Mundipharma successfully markets, promotes and distributes a number of our products across a range of territories. We’re delighted to be able to extend this relationship through this agreement.”
About the Helsinn Group
Helsinn is a privately owned pharmaceutical group with an extensive portfolio of marketed cancer care products and a robust drug development pipeline. Since 1976, Helsinn has been improving the everyday lives of patients, guided by core family values of respect, integrity and quality. The Group works across pharmaceuticals, biotechnology, medical devices and nutritional supplements and has expertise in research, development, manufacture and the commercialization of therapeutic and supportive care products for cancer, pain and inflammation and gastroenterology. In 2016, Helsinn created the Helsinn Investment Fund to support early-stage investment opportunities in areas of unmet patient need. The company is headquartered in Lugano, Switzerland, with operating subsidiaries in Switzerland, Ireland, the U.S., Monaco, and China, as well as a product presence in approximately 190 countries globally.
Mundipharma is a network of independent associated companies, which are privately owned entities, covering pharmaceutical markets in Asia-Pacific, Latin America, the Middle East and Africa. The headquarters for these territories is in Singapore. Mundipharma consistently delivers high-quality medicines while standing by the values it represents. Its mission is to alleviate the suffering of patients and to substantially improve their quality of life. Mundipharma is dedicated to bringing to patients the benefit of novel treatment options in fields such as pain, oncology, oncology supportive care, ophthalmology, respiratory disease and consumer healthcare.
BURLINGTON, Massachusetts, Aug. 16, 2018 /PRNewswire/ — Linkage, Inc., a global leadership development consultancy, announced that it has awarded the 2018 Warren Bennis Award for Excellence in Leadership to Sir Andrew Witty, a leader in the pharmaceutical industry.
Global healthcare leader Sir Andrew Witty will receive the 2018 Warren Bennis Leadership Award.
Sir Andrew Witty spent over three decades at GlaxoSmithKline, most recently serving as CEO from 2008 to 2017. He is credited with reshaping the pharmaceutical industry’s reputation by shifting GSK’s strategy to include a focus on affordable medicines and vaccines in the poorest countries. On July 1, he started his new role as CEO of Optum, an organization that leverages technology, data and expertise to improve health care delivery, quality and efficiency.
“Sir Andrew Witty is a remarkable leader characterized by his broad reaching impact in healthcare globally and by his success uniting populations around a common purpose for the greater good of mankind,” said Sam Lam, CEO of Linkage Asia and Chair of the Warren Bennis Award Committee.
The Award is named after Warren Bennis, referred to by Forbes Magazine as the “Dean of Leadership Gurus.” He was an exemplary leader who practiced, studied, wrote about and taught leadership for decades. Established by Linkage in 1999 to honor Bennis’ legacy, this Award honors a recipient who demonstrates courage, endurance, capability and success in his or her field and is a role model for current and aspiring leaders. It is presented annually at Linkage’s Global Institute for Leadership Development® (GILD®), a five-day immersive learning experience.
Past recipients include Mikhail Gorbachev (former President, Soviet Union), Rosabeth Moss Kanter (author and Harvard Business School Professor), and Howard Schultz (former CEO, Starbucks), among others.
Sir Andrew Witty will receive the award on October 4, 2018 at Linkage’s Global Institute for Leadership Development® in Palm Desert, CA.
About Linkage and the Warren Bennis Leadership Award
At Linkage, we are passionate about developing leaders who create lasting impact in and outside of their organizations. We believe that becoming the best requires a lifelong commitment to learning, improving, adapting and developing. Linkage established the Warren Bennis Award for Excellence in Leadership in 1999 to honor the legacy of long-time partner Warren Bennis. Warren co-founded Linkage’s Global Institute for Leadership Development® 22 years ago. Click here for a list of past recipients. Learn more about Linkage: http://www.linkageinc.com.
HONG KONG and SHANGHAI, Aug. 16, 2018 /PRNewswire/ — China’s leading one-stop healthcare ecosystem platform, Ping An Healthcare and Technology Company Limited (“Ping An Good Doctor“, the “Company”, stock code: 1833.HK), is pleased to announce its 2018 interim results for the period ended June 30, 2018 (“the Period”). According to the results, Ping An Good Doctor recorded a revenue of RMB1,123 million, representing a year-on-year increase of 150.3%. Among which, the family doctor services business, the core business of the Company, recorded a revenue of RMB186 million, representing a year-on-year increase of 91.4%.
From left to right: Mr. FAN Yin, Managing Director, Mr. Edwin Morris Chief Financial Officer, Mr. WANG Tao Chairman of the Board, Executive Director and Chief Executive Officer, Ms. BAI Xue, Chief Operation Officer, Mr. WU Zongxun, Chief Product Officer, Mr. WANG Qi, Chief Technology Officer.
Meanwhile, Ping An Good Doctor’s three KPIs, including the number of registered users, monthly active users (MAU) and average daily consultations, maintained rapid growth. As of the end of June, the registered customers of the Company reached 228 million, increased by 35.20 million compared to the end of 2017; MAU reached 48.60 million, representing a year-on-year increase of 50.9%; average daily consultations reached 531,000 in the first half of 2018, representing a year-on-year increase of 58%.
Ping An Good Doctor recorded rapid growth in all of its businesses, thanks to the fact that the Company has grasped the development opportunities within the industry and established a one-stop, asset-light healthcare platform. While diligently implementing its strategy, the Company has witnessed rapid growth in various businesses. In the first half of 2018, Ping An Good Doctor focused on the users’ medical and health needs to provide convenient, high-quality healthcare services based on our in-house, AI-assisted medical team. Ping An Good Doctor also actively explored diversified forms of partnership with commercial insurance companies and built a payment mechanism for commercial issuers to settle their policyholders’ claims. This “Insurance + Health” model helped the policyholders manage their health and enhanced the insurers’ risk control.
In addition to announcing its 2018 interim results, Ping An Good Doctor also announced that it is actively carrying forward its internationalization strategy and established an international joint venture with Grab, a technology company that offers ride-hailing services through an app, in order to export Ping An Good Doctor’s outstanding medical services and AI technology. Ping An Good Doctor aim to pursue development opportunities in the Southeast Asian market, building a solid foundation for “the greatest medical healthcare ecosystem in the world”, with the help of Grab’s large user base in the Southeast Asian market.
Moreover, Ping An Good Doctor has signed the equity transfer agreement to acquire 100% shares of Ping An Wanjia Healthcare (Wanjia Healthcare). Wanjia Healthcare focuses on connecting and empowering primary medical institutions, to develop an overall primary medical solution of “System + Standard + Service” which will help it build the biggest primary medical services platform in China. Through the acquisition of Wanjia Healthcare, Ping An Good Doctor will accelerate its offline strategic layout, optimize the self-contained system of online and offline family doctor services, achieve both online to offline and offline to online medical engagement, to improve the connection with the insurance business, as well as help the Company explore the new business model of commercial insurance in the medical sector.
Rapid revenue growth in core business with great expansion of one-hour express pharmaceutical delivery services network
Through the integration of resources for our AI-assisted in-house medical team, external doctors and healthcare network, Ping An Good Doctor has established a self-contained servicing system that allows its users to consult doctors and purchase medicine online, or consult doctors online and receive offline medical treatment arranged for them by us. During the reporting period, the revenue of the family doctor business amounted to RMB186.2 million, representing a year-on-year increase of 91.4%. As of the end of June 2018, the in-house medical team consisted of 1,037 personnel, Ping An Good Doctor also contracted 4,650 external doctors (Assistant Supervisor Level or above from Class III Grade A Hospitals), and collaborated with over 3,100 hospitals (including over 1,200 Class III Grade A hospitals) and over 12,000 pharmacies outlets. At present, our one-hour express pharmaceutical delivery services network now covers over 80 cities in the country to allow users to enjoy more convenient and efficient family doctor services.
In the first half of this year, with the successful experience in Internet medical health, the Company has extended the family doctor services to the countryside. We undertook the “Village Doctor” project in the “Construction Project in Three Villages” of Ping An Group to alleviate poverty by improving health.
AI-assisted medical system greatly improved service efficiency and explored offline clinical application
As of the end of June 2018, Ping An Good Doctor’s AI R&D team has submitted 26 patent applications. Thanks to the continuous optimization of the AI-assisted medical system, Ping An Good Doctor was able to rapidly improve the online consultation efficiency and accuracy, as well as reducing the unit cost of online consultation. The average daily consultation volume reached 531,000 in the first half of the year, a year-on-year increase of 58%. At present, Ping An Good Doctor has accumulated more than 300 million online consultation records, and also started planning the “one-minute clinics”, which combined smart medicine cabinets with the AI-assisted medical system.
In the future, Ping An Good Doctor will continue to strengthen the AI research and development capabilities and enhance the accuracy and appropriateness of AI medical applications to create a powerful, intelligent engine.
Explore diversified forms of partnership with commercial insurance companies, provide a 360-degreehealthcare management service
In the first half of 2018, Ping An good Doctor made a breakthrough in cooperating with insurance companies. The Company continued to deepen cooperation efforts with the Ping An Group to provide policyholders with one-stop healthcare solutions. To cater to the needs of policyholders in healthcare management, Ping An good Doctor launched the “Health 360” plan to provide an all-round 360-degree Healthcare Management Service that integrates online consultations, the facilitation of offline medical treatments and express pharmaceutical deliveries. The plan enables the users to enjoy a high quality healthcare service experience.
In the future, Ping An good Doctor will actively explore diversified forms of partnership with commercial insurance companies to help the policyholders manage their health and enhance the insurers’ risk control.
Future Vision: Become the Online Healthcare Platform With Global Influence
Since established, Ping An Good Doctor is committed to “providing a family doctor for every family, creating an e-health profile for everyone, and setting up a health management plan for everyone”. Looking forward, Ping An Good Doctor will continue to attract user traffic, expand the user base, invest in and integrate the healthcare industry, enhance platform strength and improve user experiences. At the same time, Ping An Good Doctor will enrich its product portfolio and expand distribution channels to serve a wider range of users, and also plan to enter overseas markets by introducing successful China model abroad, with the view of exporting the established technologies and services to resolve healthcare problems worldwide.
About Ping An Good Doctor
Ping An Good Doctor (01833.HK) is a leading one-stop healthcare ecosystem platform in China. The Company strives to provide a doctor for every family, an electronic healthcare record for everyone and a healthcare management plan for everyone via “mobile medical care + AI technology”. With a variety of vertical services, Ping An Good Doctor has established business segments, including family doctor services, a health mall, health management and wellness interaction, as well as consumer healthcare.
Ping An Good Doctor employed a full-time team of more than a thousand medical professionals, offering users a wide scope of online to offline services varying from auxiliary diagnosis, rehabilitation guidance and medication suggestions via online consultations, simply by text conversations, image or by video call.
These core and prioritized services bring reliable convenience around the clock 24 hours a day, 7 days a week, thanks to mobile technologies with AI-enhanced capabilities. Ping An Good Doctor also utilizes the skills of tens of thousands of in-service medical professionals to provide hospital first appointment, online pre-check triage, referral and subsequent counseling, etc.
Ping An Good Doctor now covers approximately 3,100 hospitals including over 1,200 first class hospitals in China (Class III Grade A), and more than 2,000 healthcare institutions such as physical examination centers, dental clinics, cosmetic surgery institutions and more than 10,000 pharmacy outlets.
In less than 3 years after its official launch in April 2015, Ping An Good Doctor’s mobile application gained over 200 million registered users (RU) as of February, 2018, making it the most popular mobile healthcare mobile application in China.
On May 4th, 2018, Ping An Good Doctor became the first listed internet health-tech company in the world when it joined the Hong Kong Stock Exchange (HKEx).
BOSTON, Aug. 16, 2018/PRNewswire/ — Adlai Nortye Ltd. (“Adlai Nortye” or “the Company”), aglobally-focused biopharmaceutical company dedicated to becoming a leader in developing effective therapies for cancer treatment and unmet medical needs, announced the opening of its first US site in Boston, Massachusetts. The Boston site was opened by CEO Carsten Lu, CDO Dr. Lars E. Bigerson, M.D., Ph.D. who is also President & CEO of Adlai Nortye USA Inc, and other core management team members.
The Boston site, which will form the target validation and translational medicine center of the company, is an “innovation center” dedicated to the development of important new treatments for cancer, especially immuno-oncology drugs based in the US. The center will support clinical stage programs of the company and serve as a platform to better integrate Adlai Nortye into the global biopharmaceutical research and development industry.
“Today marks the first step in our overseas expansion,” commented the CEO Carsten Lu, “The establishment of our Boston site is not just a significant step for our company, but also a sign of our relentless commitment to developing innovative, world-class therapeutic solutions for patients.”
“Adlai Nortye, unlike other domestic pharmaceutical manufacturers in China used to being associated with the production of “me-too” drugs or “me-better” drugs, aims to innovate through target validation to discover new translational medicines,” said CDO and President & CEO of Adlai Nortye USA Inc, Dr. Lars E. Bigerson, M.D., Ph.D. “The establishment of our first overseas site in Boston, will further help us to better integrate into the international biopharmaceutical market as we push forward the development of our treatments.”
Through successful collaboration with global partners, Adlai Nortye is well-placed at the forefront of the immuno-oncology industry. To date, the company has several products in its development pipeline, ranging from early-pre-clinical to stage 3 ready.
Including:
REOLYSIN®, a safe and well-tolerated intravenously delivered immuno-oncolytic virus (IOV) currently entering phase 3
Buparlisib (AN2025), an oral pan-PI3K inhibitor that has received Fast-Track designation from the FDA for the treatment of HNSCC
AN0025, an investigational, potentially first-in-class oral EP4 antagonist in phase 1 development
The new Boston site will focus on novel target identification, validation, and translational medicine research, such as mechanistic and biomarker studies. The site will also allow an internationally well placed Adlai Nortye to solidify its position as an innovative leader in the fields of immuno-oncology, and to expand this role as it seeks to move deeper into the global pharmaceutical research and development market.
About Adlai Nortye
Adlai Nortye is a science-led biopharmaceutical company dedicated to discovering, developing and commercializing new drugs in the field of oncology/immuno-oncology. Our mission is to improve patient lives by identifying and acquiring differentiated innovative medicines that help people live better and longer. Through close collaboration with global partners, we have successfully positioned ourselves in the fields of immuno-oncology/oncology and have several programs ongoing from early pre-clinical to phase 3 ready.
SHANGHAI, Aug. 17, 2018 /PRNewswire/ —Shanghai ChemPartner, a leading life science organization providing high-quality and cost-effective drug discovery and development services, announced the closure of the merger deal with Quantum Hi-Tech China Biological.
Quantum, in apress releasein 2017, announced their intent to join with Shanghai ChemPartner, a science-drive, technology-based Contract Research and Contract Manufacturing Organization (CRO/CMO) serving the pharmaceutical and biotechnology industry worldwide. The merger and corporate restructuring were also addressed by ChemPartner in apress releasein March 2017, and are part of the Company’s plans to leverage the capital market in China.
“We are excited to join with Quantum, and together achieve our vision and goals as a public company. This significant milestone was achieved as a result of hard work and rigorous due diligence. The successful outcome and approval of our merger provide confidence in the bright future ahead for ChemPartner, our employees and our clients,” stated Michael Hui, Chairman of Shanghai ChemPartner.
Michael Hui will remain the Chairman of the Shanghai ChemPartner, and will serve as the Vice Chairman of the Quantum Board of Directors. The ChemPartner leadership team will remain intact, and the company will continue to operate as a standalone entity.
Shanghai ChemPartner, which includes ChemPartner, China Gateway Pharmaceutical Development, China Gateway Biologics, and ChemExplorer, offers a broad range of drug discovery and development capabilities including biologics discovery, chemistry and medicinal chemistry, biology and pharmacology, DMPK and exploratory toxicology, and small and large molecule CMC. Shanghai ChemPartner serves a diverse global client base and has laboratories, business offices and representatives in the US, Europe, China, and Japan.
– Patent covers paired Cas9 nickase technology to reduce off-target effects, advance gene therapy and research
– Expands company’s foundational CRISPR cutting and integration IP necessary to correct genetic defects in gene therapy patients
– Merck to license CRISPR-related patents to interested parties
DARMSTADT, Germany, Aug. 15, 2018 /PRNewswire/ — Merck, the vibrant science and technology company, today announced that the Australian Patent Office has allowed the company’s patent application for the use of paired CRISPR nickases. Paired nickases represent a significant step in increasing safety by driving specificity through a highly flexible and efficient approach to reduce off-target effects. This improves CRISPR’s ability to fix diseased genes while not affecting healthy ones.
Paired CRISPR nickase methods build on other technologies in Merck’s CRISPR patent portfolio, including CRISPR integration. Commercial organizations need Merck’s IP for CRISPR-based insertion of DNA if they want correct genetic defects in the somatic cells of gene therapy patients. Merck is licensing this patent portfolio for all fields of use. (PRNewsFoto/Merck)
“We’ve made tremendous strides in recent years evolving CRISPR technology, and this is a pivotal time in scientific research,” said Udit Batra, member of the Merck Executive Board, and CEO, Life Science. “Merck’s paired nickase CRISPR technology is important for researchers who need highly accurate methods when developing treatments for difficult-to-treat diseases. This new patent allowance represents a significant advancement in safety for CRISPR-enabled therapeutics.”
The allowed patent application covers a foundational CRISPR strategy in which two CRISPR nickases are targeted to a common gene target and work together by nicking or cleaving opposite strands of chromosomal sequence to create a double-stranded break. This process can optionally include an exogenous or donor sequence for insertion in the same manner as Merck’s patented CRISPR integration technology. The requirement of two CRISPR binding events greatly reduces the chances of off-target cutting at other locations in the genome.
In addition to allowing a patent application on paired nickases, the Australian Patent Office recently announced the formal grant of Merck’s 2017 CRISPR integration patent, following withdrawal of four independent, anonymously filed oppositions.
Merck’s CRISPR integration patent portfolio includes granted patents in Australia, Canada, China, Europe, Israel, Singapore and South Korea. These CRISPR patents are directed to chromosomal integration, or cutting of the sequence of eukaryotic cells and insertion of a synthetic exogenous DNA sequence to make a desired genomic change.
Paired CRISPR nickase methods build on other technologies in Merck’s CRISPR patent portfolio, including CRISPR integration. Commercial organizations need Merck’s intellectual property for CRISPR-based insertion of DNA if they seek to correct genetic defects in the somatic cells of gene therapy patients. Merck is licensing this patent portfolio for all fields of use.
As a company that for the past 14 years has been highly involved in genome-editing innovation, Merck recognizes that genome editing has resulted in major advancements in biological research and medicine. At the same time, the growing potential of genome-editing technologies has opened scientific, legal and societal concerns. As both a user and supplier of genome-editing technology, Merck supports research with genome editing under careful consideration of ethical and legal standards. Merck has established a Bioethics Advisory Panel to provide guidance for research in which its businesses are involved, including research on or using genome editing, and has defined a clear operational position taking into account scientific and societal issues to inform promising therapeutic approaches for use in research and applications.
Merck was the first company to offer custom biomolecules for genome editing globally (TargeTron™ RNA-guided group II introns and CompoZr™ zinc finger nucleases), driving adoption of these techniques by researchers all over the world. Merck was also the first company to manufacture arrayed CRISPR libraries covering the entire human genome, accelerating disease cures by allowing scientists to explore more questions about root causes.
In addition to basic genome-editing research, Merck supports development of gene- and cell-based therapeutics and manufactures viral vectors. In 2016, Merck launched a genome-editing initiative aimed at advancing research in novel modalities — from genome editing to gene medicine manufacturing — through a dedicated team and enhanced resources, further solidifying the company’s commitment to the field.
All Merck news releases are distributed by email at the same time they become available on the Merck website. Please go to www.merckgroup.com/subscribe to register online, change your selection or discontinue this service.
About Merck Merck is a leading science and technology company in healthcare, life science and performance materials. Around 53,000 employees work to further develop technologies that improve and enhance life – from biopharmaceutical therapies to treat cancer or multiple sclerosis, cutting-edge systems for scientific research and production, to liquid crystals for smartphones and LCD televisions. In 2017, Merck generated sales of €15.3 billion in 66 countries.
Founded in 1668, Merck is the world’s oldest pharmaceutical and chemical company. The founding family remains the majority owner of the publicly listed corporate group. Merck holds the global rights to the “Merck” name and brand. The only exceptions are the United States and Canada, where the company operates as EMD Serono, MilliporeSigma and EMD Performance Materials.
SANTA CLARA, California, Aug. 15, 2018 /PRNewswire/ — Based on its recent analysis of the North America electronic prescribing market, Frost & Sullivan recognizes Surescripts with the 2018 North America New Product Innovation Award for its integrated and streamlined approach to prescription price transparency and electronic prior authorization. This pioneering health information network enables safer and more affordable prescriptions while empowering healthcare professionals with actionable patient intelligence to ensure patient safety and workflow efficiencies. Unlike any other solution, Surescripts end-to-end workflow management capabilities can enhance medication adherence, reduce time delays, and improve prescriber, pharmacist, and patient satisfaction by reducing the administrative hassle associated with “sticker shock” at the pharmacy counter.
Frost_and_Sullivan___Surescripts_Award
“Leveraging its experience in industry-led collaborative measures, the Surescripts Network Alliance™ includes leading pharmacy benefit managers (PBMs), electronic health records (EHRs) providers, pharmacies, clinicians, and health plans,” said Nancy Fabozzi, Principal Analyst, Digital Health. “This powerful network allows Surescripts to offer comprehensive patient intelligence at the point of care (POC), without steering prescribers to specific drugs or channels.”
Surescripts has found rapid adoption in the electronic prescribing market. In 2014, 94% of pharmacies and 57% of prescribers in the United States utilized e-prescribing on the Surescripts network; in 2017, those numbers increased to 98% of pharmacies and 69% of prescribers. In the same year, Surescripts introduced its Real-Time Prescription Benefit and expanded Electronic Prior Authorization solutions to offer both price transparency and prior authorization at the POC. Surescripts achieved this by employing actionable intelligence that helped optimize prescription benefits and prior authorization capabilities.
“Surescripts is honored to receive the Frost & Sullivan 2018 North America New Product Innovation Award for our innovative approach to price transparency and benefit optimization at the point of care,” said Tom Skelton, Chief Executive Officer of Surescripts. “Combined, these solutions deliver on our purpose of increasing patient safety, lowering costs, and improving quality of care for patients and the physicians and pharmacists who care for them.”
Organizations such as Allscripts, Aprima Medical Software, Cerner, CVS Health, Epic, and Express Scripts collaborate with Surescripts to provide personalized prescription benefit and pricing information in the EHR. The service is currently available to EHR vendors representing 69% of US physicians, and 65,000 prescribers nationwide are actively utilizing the service today. A rapidly growing number of clinicians will be able to view this information about drug benefits and costs in near real time, which will help them recommend clinically appropriate and affordable therapeutic alternatives. Furthermore, the company’s automated authorization workflow allows users to fill out forms within the EHR, delivering unparalleled value to both patients and providers.
“Due to the company’s strong relationships with PBMs, EHR vendors, and others across the Surescripts Network Alliance, both the Real-Time Prescription Benefit and Electronic Prior Authorization solutions experienced significant growth. In 2017, Surescripts processed 3.1 million Real-Time Prescription Benefit transactions,” noted Fabozzi. “Overall, Surescripts’ best-in-class offering is positioned to continue driving the flow of electronic health information among doctors, payers, and pharmacies.”
Each year, Frost & Sullivan presents this award to the company that develops an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased return on investment (ROI) it gives customers, which in turn, raises customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Surescripts
Our purpose is to serve the nation with the single most trusted and capable health information network, built to increase patient safety, lower costs, and ensure quality care. Since 2001, Surescripts has led the movement to turn data into actionable intelligence, and convened the Surescripts Network Alliance™ to enhance prescribing, inform care decisions, and advance the healthcare industry. Visit us at surescripts.com and follow us at twitter.com/surescripts.
About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.
JINING, China, Aug. 15, 2018 /PRNewswire/ — China YCT International Group, Inc. (OTCQB: CYIG) (the “Company”) today announced its financial results for the three months ended June 30, 2018.
Total revenues increased by 21.9% year-over-year to $20.89 million with growth in sales from both acer truncatum seed oil and Huoliyuan capsules. The increase in revenues also benefitted from favorable exchange rate between RMB to US$ compared to a year ago.
Overall gross margin was 42.7%, compared to 40.0% for the same period of the prior fiscal year. The increase in overall gross margin was mainly due to higher gross margin for acer truncatum seed oil as a result of decreased raw material, packaging and manufacturing costs.
Net income attributable to the Company was $4.49 million, or $0.15 per share, compared to $3.81 million, or $0.13 per share, for the same period of the prior fiscal year.
“We started the new fiscal year on a high note with revenues and net income increasing by 21.9% and 17.8%, respectively, for the first fiscal quarter that ended June 30, 2018. Gross and operating margins also increased on a year-over-year basis. The acer truncatum seed oil segment was particularly strong, with revenues growing by 81.3% to $5.25 million. Gross margin for acer truncatum seed oil also reached record level of 60.5% for the fiscal quarter ended June 30, 2018,” said Mr. Tinghe Yan, Chairman and Chief Executive Officer of the Company.
“As our order trend suggests continuing growth momentum, we are optimistic about the near-term outlook of our business and believe that we can extend our streak of five consecutive years of top-line growth in fiscal year 2019,” concluded Mr. Yan.
Fiscal Quarter Ended June 30, 2018 Financial Results
For the Three Months Ended June 30,
($ millions, except per share data)
2018
2017
% Change
Revenues
$20.89
$17.13
21.9%
Gross profit
$8.92
$6.85
30.3%
Gross margin
42.7%
40.0%
2.8 pp
Operating income
$6.13
$4.64
32.1%
Operating margin
29.3%
27.1%
2.3 pp
Net income attributable to CYIG
$4.49
$3.81
17.8%
Earnings per share
$0.15
$0.13
17.7%
Revenues
For the three months ended June 30, 2018, total revenues increased by $3.75 million, or 21.9%, to $20.89 million from $17.13 million for the same period of the prior fiscal year. The increase in total revenues was mainly due to increase in sales for acer truncatum seed oil and also benefited from RMB appreciation versus US$ compared to a year ago.
Revenues from health care products increased by $0.17 million, or 2.1%, to $8.01 million for the three months ended June 30, 2018 from $7.85 million for the same period of the prior fiscal year. The revenue from sales of health care products measured in RMB decreased by 5.0% but was offset by a 7.1% increase due to favorable US currency exchange rates. The decrease in sales of the health care products in RMB was primarily due to decreases in sales of other traditional health care products.
Revenues from Huoliyuan capsules increased by $1.24 million, or 19.3%, to $7.63 million for the three months ended June 30, 2018 from $6.40 million for the same period of the prior fiscal year. The increase in sales of Huoliyuan capsules was primarily due to improved market share performance.
Revenues from acer truncatum seed oil increased by $2.35 million, or 81.3%, to $5.25 million for the three months ended June 30, 2018 from $2.89 million for the same period of the prior fiscal year. The increase in sales of acer truncatum seed oil was primarily due to continuing promotions of acer truncatum seed oil at conferences highlighting features and benefits of the product to our distributors and customers. Since July 2015, the Company has produced and sold acer truncatum seed oil extracted from the acer truncatum pods purchased from third party vendors. Our crops of acer truncatum pods will not be ready for production until approximately the fall of 2018.
The sales of health care products, Huoliyuan capsules, and acer truncatum Parliament seed oil accounted for 38.3%, 36.5%, and 25.1%, respectively, of total revenues for the three months ended June 30, 2018 , compared to 45.8%, 37.3%, and 16.9%, respectively, for the same period of the prior fiscal year.
The following table summarizes revenues and gross profit by products for the three months ended June 30, 2018 and 2017, respectively:
For the Three Months Ended June 30,
2018
2017
Revenues ($M)
Gross Profit ($M)
Gross Margin (%)
Revenues ($M)
Gross Profit ($M)
Gross Margin (%)
Health care supplements
8.01
3.56
44.4%
7.85
3.51
44.7%
Drugs (Huoliyuan capsule)
7.63
2.19
28.7%
6.40
2.05
32.1%
Acer truncatum oil
5.25
3.17
60.5%
2.89
1.29
44.5%
Total
20.89
8.92
42.7%
17.13
6.85
40.0%
Cost of Goods Sold
Cost of goods sold comprised primarily the cost of finished goods purchased from Shandong Yongchuntang, raw materials purchased from third party vendors, and the manufacturing cost of acer truncatum seed oil and Huoliyuan capsules. For the three months ended June 30, 2018, total cost of goods sold increased by $1.68 million, or 16.3%, to $11.96 million from $10.29 million for the same period of the prior fiscal year. As a percentage of revenues, total cost of goods sold was 57.3% for the three months ended June 30, 2018, compared to 60.0% for the same period of the prior fiscal year. The decrease was primarily due to decreased raw material, packaging and manufacturing costs for acer truncatum seed oil.
Cost of goods sold for health care products, Huoliyuan capsules, and acer truncatum seed oil were $4.45 million, $5.44 million and $2.07 million, respectively for the three months ended June 30, 2018, compared to $4.34 million, $4.34 million, and $1.61 million, respectively, for the same period of the prior fiscal year.
Gross Profit
Gross profit increased by $2.08 million, or 30.3%, to $8.92 million for the three months ended June 30, 2018, from $6.85 million for the same period of the prior fiscal year. Gross profit for health care products, Huoliyuan capsules, and acer truncatum Parliament seed oil were $3.56 million, $2.19 million, and $3.17 million, respectively, for the three months ended June 30, 2018, compared to $3.51 million, $2.05 million, and $1.29 million, respectively, for the same period of the prior fiscal year.
Overall gross margin was 42.7%, with gross margins for health care products, Huoliyuan capsules, and acer truncatum seed oil being 44.4%, 28.7%, and 60.5%, respectively, for the three months ended June 30, 2018. Overall gross margin was 40.0%, and gross margins for health care products, Huoliyuan capsules, and acer truncatum seed oil were 44.7%, 32.1%, and 44.5%, respectively, for the same period of the prior fiscal year. The increase in overall gross margin was mainly due to acer truncatum seed oil as a result of decreased raw material, packaging, and manufacturing costs.
Operating Expenses
Selling expenses consist primarily of sales commissions, advertising and promotion, freight charges, and related compensation. For the three months ended June 30, 2018, selling expenses increased by $0.16 million, or 12.6%, to $1.40 million, from $1.24 million for the same period of the prior fiscal year. The increase in selling expenses was primarily due to increases in shipping cost and sales commission from increased sales and salary expense.
General and administrative expenses increased by $0.17 million, or 19.0%, to $1.08 million for the three months ended June 30, 2018 from $0.91 million for the same period of the prior fiscal year. The increase in general and administrative expenses was primarily due to the increase in depreciation and consulting expenses.
Research and development expenses were $0.32 million for the three months ended June 30, 2018, compared to $0.06 million for the same period of the prior fiscal year. The increase in research and development expenses was mainly due to the increased cost of the materials used by the R&D department. As of June 30, 2018, the Company had a staff of 27 in the R&D department.
As a result, total operating expenses increased by $0.59 million, or 26.5%, to $2.80 million for the three months ended June 30, 2018, from $2.21 million for the same period of the prior fiscal year.
Operating Income
Total operating income increased by $1.49 million, or 32.1%, to $6.13 million for the three months ended June 30, 2018, from $4.64 million for the same period of the prior fiscal year. The increase in total operating income was mainly a result of increased gross profit, partially offset by increased operating expenses. Operating margin was 29.3% for the three months ended June 30, 2018, compared to 27.1% for the same period of the prior fiscal year.
Income before Income Taxes
Interest income was $40,073 for the three months ended June 30, 2018, compared to $25,103 for the same period of the prior fiscal year. The Company also booked gain on disposal of acer truncatum bunge plants of $0.57 million for the three months ended June 30, 2017.
Income before income tax provisions increased by $0.93 million, or 17.8%, to $6.17 million for the three months ended June 30, 2018, from $5.24 million for the same period of the prior fiscal year.
Net Income
Income tax expense increased by $0.23 million, or 17.8%, to $1.54 million for the three months ended June 30, 2018, from $1.31 million for the same period of the prior fiscal year.
Net income increased by $0.70 million, or 17.8%, to $4.63 million for the three months ended June 30, 2018, from $3.93 million for the same period of the prior fiscal year.
After the deduction of non-controlling interest, net income attributable to the Company was $4.49 million, or $0.15 per basic and diluted share for the three months ended June 30, 2018, compared to $3.81 million, or $0.13 per basic and diluted share, for the same period of the prior fiscal year.
Liquidity and Capital Resources
As of June 30, 2018, the Company had cash and cash equivalents of $27.86 million, and inventories of $3.16 million, compared to $25.35 million, and $2.38 million, respectively, as of March 31, 2018. Total working capital was $31.78 million as of June 30, 2018, compared to $28.08 million as of March 31, 2018.
Net cash provided by operating activities was $4.16 million for the three months ended June 30, 2018, compared to $5.55 million for the same period of the prior fiscal year. Net cash used in investing activities was $0.26 million for the three months ended June 30, 2018, compared to $1.21 million for the same period of the prior fiscal year. Net cash provided by financing activities was $nil for the three months ended June 30, 2018 and 2017, respectively.
Recent Developments
On July 17, 2018, the Company announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed public offering of shares of its common stock, par value $0.001 per share, for gross proceeds of $7,500,000, excluding the proceeds from the sale of additional shares of common stock to cover over-allotments, if any. The number of shares to be offered and the price range for the proposed offering have not yet been determined. China YCT International Group, Inc. has applied to list its common stock on The Nasdaq Capital Market. Maxim Group LLC will act as the sole book-running manager for the proposed offering.
About China YCT International Group, Inc.
Based in Jining, Shandong Province and founded in January 1989, China YCT International Group, Inc., through its subsidiaries, engages in the business of (i) distributing health care supplement products manufactured by Shandong Yongchuntang Group Co., Ltd. in the PRC, (ii) developing, manufacturing, and selling Huoliyuan capsules, a prescription medicine, (iii) developing acer truncatum bunge planting bases, and manufacturing and selling acer truncatum bunge seed oil in the PRC. Acer truncatum bunge plants are a species of maple tree. For more information about the Company, please visit http://zgyct.yongchuntang.com.
Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
At the Company:
Zecheng Shao, Vice President Phone: +86-156-5377-2006 Email: zc_shao@126.com
Investor Relations:
Tony Tian, CFA Weitian Group LLC Phone: +1-732-910-9692 Email: ttian@weitianco.com
CHINA YCT INTERNATIONAL GROUP, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
JUNE 30,
MARCH 31,
2018
2018
Assets
Current assets:
Cash and cash equivalents
$
27,863,079
$
25,353,360
Accounts receivable
364,809
174,558
Inventories
3,164,358
2,383,382
Purchase deposit to related party
1,208,005
1,412,864
Prepaid leases – current portion
633,732
741,583
Total current assets
33,233,983
30,065,747
Prepaid leases
457,876
641,349
Development cost of acer truncatum bunge planting
46,730,621
48,984,881
Plant, property, and equipment, net
15,687,813
16,793,413
Intangible assets, net
10,952,043
11,862,017
Deferred tax assets
169,314
200,387
Security deposit to related party
1,511,350
1,590,305
Total assets
$
108,743,000
$
110,138,099
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and other accrued expenses
$
135,556
$
372,782
Advance from customers
–
445,829
Taxes payable
1,321,890
1,164,198
Total current liabilities
1,457,446
1,982,809
Stockholders’ Equity
Preferred stock, par value $0.001 per share; 5,000,000 shares authorized, zero shares issued and outstanding
–
–
12% Preferred stock, par value $500 per share; 45 shares authorized, issued and outstanding
22,500
22,500
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 29,839,168 and 29,789,168 shares issued and outstanding at June 30, 2018 and March 31, 2018, respectively
29,839
29,789
Additional paid-in capital
4,363,788
4,322,838
Statutory reserve
1,828,504
1,828,504
Retained earnings
98,935,764
94,447,937
Accumulated other comprehensive income (loss)
(916,224)
4,455,017
Total stockholders’ equity attributable to the Company
104,264,171
105,106,585
Noncontrolling interest
3,021,383
3,048,705
Total stockholders’ equity
107,285,554
108,155,290
Total liabilities and stockholders’ equity
$
108,743,000
$
110,138,099
CHINA YCT INTERNATIONAL GROUP, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited)
THREE MONTHS ENDED
JUNE 30,
2018
2017
Sales
$
20,888,847
$
17,134,865
Cost of Goods Sold (including $4,390,324 and $4,288,935 from a related party for the three months ended June 30, 2018 and 2017, respectively)
11,964,700
10,287,148
Gross profit
8,924,147
6,847,717
Operating expenses
Selling expenses
1,391,603
1,236,292
General and administrative expenses
1,081,049
908,405
Research and development expenses
322,733
64,378
Total operating expenses
2,795,385
2,209,075
Income from operations
6,128,762
4,638,642
Gain on disposal of acer truncatum bunge plants
–
573,092
Interest income
40,073
25,103
Income before income tax provision
6,168,835
5,236,837
Income tax provision
1,542,209
1,309,209
Net income
4,626,626
3,927,628
Less: Net income attributable to noncontrolling interest
138,799
117,829
Net income attributable to the Company
4,487,826
3,809,799
Other comprehensive income (loss):
Foreign currency translation adjustment
(5,537,362)
1,655,501
Comprehensive income (loss)
(910,736)
5,583,129
Less: Comprehensive income (loss) attributable to noncontrolling interest
(27,322)
166,315
Comprehensive income (loss) attributable to the Company
$
(883,414)
$
5,416,814
Earnings per common share
Basic and Diluted
$
0.15
$
0.13
Weighted average number of common shares outstanding
Basic and Diluted
29,804,003
29,789,168
CHINA YCT INTERNATIONAL GROUP, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
THREE MONTHS ENDED
JUNE 30,
2018
2017
Cash Flows From Operating Activities:
Net income
$
4,626,626
$
3,927,628
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of plant, property and equipment
352,766
287,248
Amortization of intangible assets
333,014
309,948
Amortization of prepaid leases
230,963
210,588
Stock-based compensation
41,000
–
Deferred taxes
21,912
167,355
Gain on disposal of acer truncatum bunge plants
–
(573,092)
Changes in operating assets and liabilities:
Purchase deposit to vendors
–
655,130
Inventory
(932,817)
2,315,657
Accounts receivable
(206,330)
1,080,011
Cash received from cancellation of lease
–
55,932
Taxes payable
223,523
(908,641)
Purchase deposit and accounts payable to related party, net
139,733
(2,014,308)
Advance from customers
(439,483)
–
Accounts payable and other accrued expenses
(226,868)
40,790
Net cash provided by operating activities
4,164,039
5,554,246
Cash Flows From Investing Activities:
Acquisition of property, plant and equipment
(70,793)
(2,080,416)
Proceeds from disposal of acer truncatum bunge plants
–
2,084,706
Development cost of acer truncatum bunge planting
(184,358)
(1,215,128)
Net cash used in investing activities
(255,151)
(1,210,838)
Effect of exchange rate changes on cash and cash equivalents
(1,399,169)
240,841
Net increase in cash and cash equivalents
2,509,719
4,584,249
Cash and cash equivalents at beginning of period
25,353,360
10,308,622
Cash and cash equivalents at end of period
$
27,863,079
$
14,892,871
Supplemental disclosures of cash flow information:
Only 30% of Hong Kong citizens[1] understand the symptoms of diabetes
Growing trend of youngsters diagnosed with Diabetes
HONG KONG, Aug. 15, 2018 /PRNewswire/ — Diabetes is one of the ten leading causes of death in Hong Kong[2] ;one out of ten people in Hong Kong is living with the disease, including more than 20% of patients who were diagnosed before they turned 40 years old[3], and more than a half of patients have undiagnosed diabetes[4]. AXA Hong Kong commissioned marketing research firm Nielsen to conduct an online survey with 1,010 interviewees aged from 18 to 54. The findings revealed that nearly 90% of respondents expressed that they are not diabetic patients and around 70% of respondents misunderstood the symptoms of diabetes.
Xavier Lestrade, Managing Director, Life Insurance, AXA Hong Kong (middle); Professor Juliana CHAN, Chair Professor of Medicine and Therapeutics at CUHK and Chairperson of GemVCare (left); and Kevin Chor, Chief Life Product and Proposition Officer, AXA Hong Kong (right), attended the kick-off for the “AXA Diabetes & Three-Highs Management Programme”.
Due to the fact that diabetes may lead to life-threatening consequences, Hong Kong citizens with a weak awareness of diabetes cannot be overlooked. According to data, patients with the ‘three-highs’ (high blood pressure, high cholesterol and high BMI) may have a higher risk of developing diabetes[5], and diabetes patients have twice the risk of developing liver cancer[6].
“The survey revealed that Hong Kong citizens do not fully understand diabetes, and underestimate the impact to health associated with diabetes and the ‘three highs’. According to an analysis of the data from Hospital Authority, the annual direct medical costs for diabetes treatment can exceed HKD$120,000[7]. As a lifelong health partner, AXA Hong Kong is committed to putting our customers at the forefront to enjoy a healthier life. Further to launching the innovative insurance initiative ‘BetterMe by AXA’ and the first ‘Quit Smoking Incentive’ programme, for our second series, we invited Asia Diabetes Foundation Limited and GemVCare, to co-launch the first-in-market ‘AXA Diabetes & Three-Highs Management Programme’. This programme combines personalised dietary advice, physical training and health education to manage clients’ year-long health conditions, and support them in the ‘Better Me’ programme to effectively reduce the risks and anxieties associated with diabetes and the ‘Three-Highs’,” said Xavier Lestrade, Managing Director,Life Insurance,AXA Hong Kong.
AXA Hong Kong believes that protection is not just about insurance product, but a concept. There are some customers who cannot be covered by insurance due to their living habits, or chronic illnesses. As a long term partner of our customers, AXA Hong Kong has launched an innovative insurance initiative ‘BetterMe by AXA’ to provide flexibility to these customers, and encourage them along the health journey, so that they can be adequately covered. ‘BetterMe by AXA’ covers three areas with breakthroughs in underwriting approaches, inclusiveness of protection and all-round health management, it aims to protect customers in every possible way whilst supporting them to live a healthier and better life.
The ‘AXA Diabetes & Three-Highs Management Programme’ is a new series from ‘BetterMe by AXA’. This programme is authorised by the Asia Diabetes Foundation Limited (JADE®), with service provided by GemVCare, founded by a team of CUHK researchers with support from Technology Start-up Support Scheme for Universities. It aims to provide personalised professional health guidelines, suggestions and support to our customers, including: –
Participation in the Joint Asia Diabetes Evaluation Programme(JADE®) – Through an all-round risk assessment service, customers may fully manage their health conditions and control diabetes in an effective way.
15% Premium Rebate – Upon completion of the ‘AXA Diabetes & Three-Highs Management Programme’ and accumulation of specific points, participants can enjoy a one-off 15% Premium Rebate.
Nurse Consultation – A nurse will follow up the year-long health management programme to regularly assess the customer’s health condition.
Dietary Advice – A registered dietitian will provide personalised dietary advice and a meal plan.
Physical Training Advice – A certified physical trainer will provide physical training advice to maintain body health.
Health Education – Regular workshops and webinars cover various topics including diabetes care, daily exercises and dietary planning to reinforce health knowledge.
“Out of the 10% of diabetic patients in Hong Kong’s population, there are 2% to 6%[8] who will develop dangerous complications every year, including critical illness such as heart disease, kidney failure or stroke. This statistic raises public concern because of these complications which may lead to death. According to data from 2009 in Hong Kong, the youngest affected patient with type 2 diabetes was less than 9 years old[9] and the trend had increased 13-fold over a decade9. It reflects the trend of adolescent-onset diabetes. JADE® is designed and developed by Asia Diabetes Foundation Limited, and currently has 30,000 participants in Hong Kong. The programme combines nurse-coordinated risk stratification and a supporting medical team to establish treatment programmes. Upon reassessment after 12 to 24 months, 20% to 50% of patients have a reduction in the incidence of major critical illness and hospitalisations[10],” said Professor Juliana CHAN, Chair Professor of Medicine and Therapeutics at CUHK and Chairperson of GemVCare.
From 15 August 2018 to 24 December 2018, Diabetes & Three-Highs (high blood pressure, high cholesterol and high BMI) individuals, who successfully apply for the ‘CritiPartner Critical Illness Plan’ with a total annualised first-year premium of such basic plan and its supplement (if applicable) of HKD$12,000 or above (or its equivalent in foreign currency) will have a chance to join the ‘AXA Diabetes & Three-Highs Management Programme’.
For more information on the new ‘AXA Diabetes & Three-Highs Management Programme’, please visit AXA Hong Kong website for details.
The above information is for reference only. For details of the product features, content, terms, conditions and exclusions, please refer to the relevant programme brochures.
ABOUT AXA HONG KONG
AXA Hong Kong, a member of the AXA Group, prides itself on serving over 1 million customers1 in Hong Kong and Macau. Besides being one of the largest health protection providers in Hong Kong, it is also the #1 General Insurance provider2 and the #1 insurance brand worldwide for the ninth consecutive year3.
AXA Hong Kong has a clear goal of ’empowering people to live a better life’. This is reflected in everything we do. AXA Hong Kong is one of the most diversified insurers providing full range coverage for individual and commercial customers. We offer all-round, integrated solutions across Life, Health and Property & Casualty to address all their insurance needs.
AXA Hong Kong leverages on Big Data and AI to transform the end-to-end customer experience, making insurance simpler and more personal. As an innovative insurer, we continue to drive innovation notably in health and protection, supporting customers in prevention, treatment and recovery.
We also believe it is our inherent responsibility to support the communities in which we operate. The AXA Foundation is our flagship corporate social responsibility programme covering all of our efforts in promoting health, education and community support to create a positive and lasting impact for Hong Kong.
1 Including customers of AXA China Region Insurance Company Limited, AXA China Region Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability), and AXA General Insurance Hong Kong Limited 2 Based on 2016 Insurance Authority market share statistics represented by overall gross premiums 3 Interbrand Best Global Brand 2017 (By brand value)
THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE: AXA.COM.HK
IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and AXA’s plans and objectives to differ materially from those expressed or implied in the forward looking statements. Please refer to Part 4 – “Risk factors and risk management” of AXA’s Document de Référence (Annual Report) for the year ended December 31, 2016, for a description of certain important factors, risks and uncertainties that may affect AXA’s business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise.
