LONDON and NEW YORK, July 3, 2018 /PRNewswire/ —

Smith & Nephew (LSE: SN) (NYSE: SNN), the global medical technology business, announces that the UK’s National Institute for Health and Care Excellence (NICE) has issued a Medtech innovation briefing (MIB) on the use of PICO Single Use Negative Pressure Wound Therapy (sNPWT).

The MIB reports the prophylactic use of PICO as a potentially more effective alternative to standard surgical dressings in the prevention of surgical site complications (SSCs). This is the first and only MIB published by NICE on an NPWT device for preventing SSCs.

Complications from surgical incisions are a significant economic and human burden, costing an approximate £1 billion^[1] to the NHS each year and contributing to significant morbidity and mortality in the UK and globally. A recent World Union of Wound Healing Societies consensus guidelines reports that up to 60% of surgical site infections (SSIs) are preventable^[2].

The prophylactic use of the PICO system is proven to be effective in reducing SSCs, including SSIs and dehiscence (wound rupturing) of the surgical incision, in patients at elevated risk of SSCs^[7].

The PICO dressing has a proprietary AIRLOCK™ Technology that uniformly and consistently delivers NPWT across a surgical incision and the surrounding zone of injury generated naturally by the incision itself^[3],[4]. This proprietary feature is designed to help reduce the risk of wound complications by reducing post-operative fluid, swelling and associated tension around a closed surgical incision compared with standard dressings^[5],[6]. The combination of these actions helps reduce the risk of surgical wound dehiscence^[7] and SSIs^[7], the 2 most common SSCs.

Evidence shows how the prophylactic use of PICO resulted in fewer complications, and in earlier discharge from hospitals, reducing length of stay, on average by more than 8 days, in closed laparotomy wounds after abdominal surgery^[8]*, which has the potential to release bed days for the NHS. In patients undergoing primary hip and knee arthroplasties, it was estimated that care with PICO enabled cost savings of more than £7,000 per high-risk patient (BMI ≥35 or ASA ≥3) compared with care with standard dressings^[9]**.

Read more about NICE’s finding here: http://www.smith-nephew.com/PICOMIB

Ms Pauline Whitehouse, Consultant General and Colorectal Surgeon, Worthing Hospital, said, “Following the introduction of PICO into our Trust for moderate- to high-risk incisions, we quickly noticed a significant reduction in superficial surgical site infections. We have now introduced PICO across the Trust and are seeing similar reductions in infective complications for other specialities.”

MIBs are objective information on device and diagnostic technologies to aid local decision-making by clinicians, managers and procurement professionals. They are NICE advice, designed to support NHS and social care commissioners and staff who are considering using new medical devices, and other medical or diagnostic technologies. The briefing will help avoid the need for organisations to produce similar information locally, saving staff time and resources. MIBs are commissioned by NHS England and produced in support of the NHS 5-Year Forward View, specifically as one of a number of steps that will accelerate innovation in new treatments and diagnostics.

As part of the MIB, NICE conducted a thorough review of the published and peer-reviewed data from a variety of meta-analyses and randomised controlled trials (RCTs). The effectiveness of PICO in reducing SSCs has been examined in 10 RCTs and multiple observational studies. A recently published 1,839 patient meta-analysis demonstrated the efficacy of PICO, used prophylactically, significantly reducing SSIs by 58% in closed surgical incisions compared with standard care^[5]***.

PICO is suitable for use in both hospital and community settings, and is approved for a number of indications, including surgically closed incision sites.

“NICE MIBs are a great resource for NHS organisations, and are often a reference used by healthcare systems beyond the UK. Today we are delighted to see the NICE MIB support for the prophylactic use of PICO as an effective alternative for clinicians who look to reduce their rates of surgical site complications. This will provide them with the confidence to use PICO for their at-risk patients and procedures, in support of their efforts to achieve better economic and clinical outcomes,” said Paolo Di Vincenzo, Smith & Nephew’s SVP of Advanced Wound Management. “With PICO, we are keeping Smith & Nephew at the forefront of delivering pioneering solutions that continue to improve current standards of care, by reducing the burden and delivering better clinical and economic outcomes. PICO has shown significant clinical results in reducing life-threatening infections on closed surgical incisions, which has contributed significantly to improved patient outcomes, in a cost-effective portable solution.”

About Smith & Nephew 

Smith & Nephew is a global medical technology business dedicated to helping healthcare professionals improve people’s lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma & Extremities, Smith & Nephew has around 15,000 employees and a presence in more than 100 countries. Annual sales in 2017 were almost $4.8 billion. Smith & Nephew is a member of the FTSE100 (LSE:SN, NYSE:SNN).

For more information about Smith & Nephew, please visit our website http://www.smith-nephew.com, follow @SmithNephewplc on Twitter or visit SmithNephewplc on Facebook.com.

Forward-looking Statements 

This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as “aim”, “plan”, “intend”, “anticipate”, “well-placed”, “believe”, “estimate”, “expect”, “target”, “consider” and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith & Nephew, these factors include: economic and financial conditions in the markets we serve, especially those affecting health care providers, payers and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers; competition for qualified personnel; strategic actions, including acquisitions and dispositions, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith & Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith & Nephew’s most recent annual report on Form 20-F, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith & Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith & Nephew are qualified by this caution. Smith & Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith & Nephew’s expectations. 

(TM) Trademark of Smith & Nephew.  Certain marks registered US Patent and Trademark Office.  

* 50-patient study; length of stay reduced: PICO 6.1 days; control group 14.7 days; p<0.019

** Calculations based on a 220-patient RCT

*** Meta-analysis included 10 RCT and 6 observational studies. Reduction in SSI (16 studies) included 1,839 patients (2,154 incisions); PICO 5.2%; control group 12.5%; p<0.0001. Mean reduction in hospital length of stay (8 studies included): 0.47 days; p<0.0001

References: 

1. Guest J et al, Health economic burden that different wound types impose on the UK’s National Health Service. Int Wound J 2016; doi: 10.1111/iwj.12603

2. World Union of Wound Healing Societies (WUWHS) Consensus Document. Closed surgical incision management: understanding the role of NPWT. Wounds International, 2016

3. Data on File. DS/17/253/R. Project Opal PICO 7 System Stability Testing – Initial Time Point. October 2017

4. Malmsjö M et al. Biological effects of a disposable, canisterless Negative Pressure Wound Therapy system (in-vitro). Eplasty 2014; 14:e15

5. Selvaggi F et al., New Advances in Negative Pressure Wound Therapy (NPWT) for Surgical Wounds of Patients Affected with Crohn’s Disease. Surgical Technology International XXIV; 83- 89

6. Loveluck et al (2016) Biomechanical modeling of forces applied to closed incision during NPWT eplasty16e20

7. Strugala, V. and Martin, R. Meta-analysis of comparative trials evaluating a prophylactic single-use negative pressure wound therapy system for the prevention of surgical site complications. Surgical Infections (2017). DOI 10.1089/sur.2017.156

8. O’Leary, Donal Peter et al. 2017. “Prophylactic Negative Pressure Dressing Use in Closed Laparotomy Wounds Following Abdominal Operations.” Annals of Surgery. Jun 265(6): 1082-1086

9. Nherera LM, Trueman P, Karlakki SL. Cost-effectiveness analysis of single-use negative pressure wound therapy dressings (sNPWT) to reduce surgical site complications (SSC) in routine primary hip and knee replacements. Wound Repair Regen. April 2017. doi:10.1111/wrr.12530

PDF: https://mma.prnewswire.com/media/713194/PICO_Single_Use_Negative_Pressure_Wound_Therapy.pdf

BEIJING, July 3, 2018 /PRNewswire/ — The Honorary Trustee Appointment Ceremony for Dr. Lui Che Woo and the “LUI Che Woo Prize” symposium were held Friday at Yingjie Exchange Center, Peking University. Dr. Lui Che-woo, founder of the “LUI Che Woo Prize – Prize for World Civilisation”, Prof. Lin Jianhua, President of Peking University, Prof. XU Guanhua, Former Minister of the Ministry of Science and Technology, Selection Panel Member of the Sustainability Prize, Mr. Xie Zhenhua, laureate of the Sustainability Prize 2017, Dr. Mo Yan, a member of the Prize Recommendation Committee, Mr. Zhu Weiqun, Chairman of the Ethnic and Religious Affairs Committee of China, Mr. Geng Huichang, member of the Standing Committee of the Chinese People’s Political Consultative Conference and Vice-chairman of the Subcommittee of Hong Kong, Macao, Taiwan and Overseas Chinese, Mr. Zhigang Qin, Vice-chairman of the China Culture and Art Association, and a number of experts and scholars from political and academic circles gathered with more than 200 teachers and students of Peking University to participate in the symposium entitled “Facing the World: The Role, Opportunities and Challenges of Promoting Sustainable Development in China“. Dr. Lui Che Woo and Mrs. Lui also attended the unveiling ceremony of the Peking University Life Science Research Building, named the “Lui Che-woo Building” with Prof. Lin Jianhua and other guests, celebrating its completion and opening.  

Dr. Lui Che Woo, Founder of the “LUI Che Woo Prize – Prize for World Civilisation”, shared his experience of hardship in his early life during the opening speech and talked about his support for education.

(L-R)Prof. Tang Chao, Executive Dean of Academy for Advanced Interdisciplinary Studies and Chair Prof. of School of Physics of Peking University, Prof. Xu Zhihong, former President of Peking University, Dean of the College of Modern Agriculture Science, Prof. Rao Zihe, Selection Panel Member of the LUI Che Woo Prize and Prof. Zhang Dongxiao, Dean of the School of Graduate Studies and School of Engineering of Peking University, shared their views on sustainable development during the panel discussion.

Group photo: Dr. Lui Che Woo, leaders of Peking University and guest speakers.

Supporting the development of life sciences research and nurturing talents for the country

In 2017, Dr. Lui donated RMB 120 million to Peking University to set up the Lui Che Woo School of Life Sciences Fund and to construct a new Life Sciences building, continuing the pursuit of far-reaching and innovative research. Peking University’s new life science research building is named “Lui Che Woo Building” in gratitude to Dr. Lui for his dedication and significant contribution to the development of Peking University. Peking University also decided to appoint Dr. Lui as Honorary Trustee of Peking University, in order to gather the wisdom and experience of Dr. Lui, in further support of the development of the university.

Prof. Lin Jianhua said that he is thankful to Dr.Lui for his support of education and future generations and added that the establishment of the LUI Che Woo Prize reflects Dr. Lui’s broad-minded and profound thinking with regards to the challenges of human development. Prof. Lin Jianhua thanked Dr. Lui for his generous support of Peking University and was deeply delighted and inspired by his forward-looking and selfless dedication. Prof. Lin believes that advocating and establishing common values and visions are the foundations of society and university, which is also the intention of the LUI Che Woo Prize.  Prof. Lin expressed that Peking University is pleased to work with Dr. Lui Che Woo and all people with foresight to help the world understand China, and to let China understand the world with a broader mind and vision, moving towards world peace and a better future.

During the opening speech, Dr. Lui shared his experience of hardship early in his life and talked about his support for education. He believes that becoming a member of Peking University is an affirmation and great endorsement of his 89-year life. The support for the construction of “Lui Che Woo Building” is his appreciation to Peking University, to the country, to the compatriots, and to the world. He is looking forward to bringing great achievement to China in the area of life sciences, cultivating more outstanding talents and scientific research for the betterment of the country and the world. Dr. Lui said: “Let the revival of the five-thousand-year civilized country flourish with a humanistic glory. I know in my heart that this is where Peking University can make a unique contribution.” He believes that the future of Peking University will contribute more Chinese wisdom and spirit to the entire human society. As a “Chinese who has the privilege of doing something in the world,” Dr. Lui suggested: “Keep learning, making progress, embracing the world, facing the future, and creating achievements.”

Inspiring teachers and students to care about sustainable development

Mr. Xie delivered a speech at the symposium and stated that Dr. Lui has always practiced the vision of sustainable development, and he continues to take action, devote his energy, and strengthen his determination. The LUI Che Woo Prize shows that Chinese entrepreneurs take the social responsibility and promote sustainable development and he believes the Prize will lead more entrepreneurs to engage in sustainable development and contribute to a beautiful China.

Dr. Mo Yan said in his speech that Dr. Lui believes in good faith and good deeds. The establishment of the LUI Che Woo Prize aims to solve the impact of rapid development of materials and technology on morality, thereby improving the relationship between people, and between man and nature, so that individuals can pursue and achieve their goals, cherish and enjoy the beauty of the world, promote social harmony and common prosperity, and provide a better world for future generations. This is the Chinese peoples’ commitment to the world and its contribution to human society.

Prof. Xu Zhihong, former President of Peking University and Dean of the College of Modern Agriculture Science, Prof. Rao Zihe, Selection Panel Member of the LUI Che Woo Prize, Prof. Zhang Dongxiao, Dean of the School of Graduate Studies and School of Engineering of Peking University, and Prof. Tang Chao, Executive Dean of Academy for Advanced Interdisciplinary Studies and Chair Prof. of School of Physics of Peking University, shared their views on the importance of sustainable development during the panel discussion at the symposium, and answered questions from teachers and students. Prof. Xu Zhihong believes that universities should cultivate and encourage students to think about sustainable development. He suggested that every Chinese citizen, especially well-educated citizens, should have such a mindset, starting from oneself, and that this is the only hope for the future of China. Prof. Rao Zihe said that the LUI Che Woo Prize focuses on the overall contribution to mankind through its high assessment requirements and standards. He also said that the Prize will have a greater influence in the international community in the future. Prof. Zhang Dongxiao then spoke about the close relationship between development and sustainability, the prospects for future cooperation in energy development between China and the United States, and the direction of China’s energy structure adjustment.

After the symposium was completed, the guests gathered at “Lui Che Woo Building”, where Prof. Wu Hong, Dean of the School of Life Sciences of Peking University, introduced the “Lui Che Woo Building”. She said that the building will provide an innovative space for Peking University Life Science scholars, where the university will cultivate promising young people to contribute to China and the world, and that it will also serve as a bridge between Peking University and the world’s life sciences. Under the witness of teachers and students, Dr. Lui Che Woo and Mrs. Lui, Mr. Lawrence Lui Yiu Nam, the son of Dr. Lui, representative of LUI Che Woo Charity of the United States, Prof. Lin Jianhua, Prof. Xu Zhihong and Prof. Wu Hong lit a crystal ball and unveiled the “Lui Che Woo Building”, as well as a commemorative plaque for the building.

About the LUI Che Woo Prize – Prize for World Civilisation

Founded by Dr. LUI Che Woo in 2015, the “LUI Che Woo Prize – Prize for World Civilisation” is an annual, first of its kind international cross-sector innovative award for advancing world civilisation and inspiring people to build a more harmonious world. It aims to recognise and honour individuals or organisations all over the world for outstanding contributions and encourages the continuation of that work in three objectives: sustainable development of the world, betterment of the welfare of mankind and promotion of positive life attitude and enhancement of positive energy. For more details, please go to www.luiprize.org.

About Dr. LUI Che Woo

Dr. Lui Che-woo was born in Jiangmen, Guangdong Province, China in 1929. He established the first K. Wah company in Hong Kong in the 1950s. He is currently Chairman of K. Wah Group. Its major member companies include K. Wah International Holdings Limited, Galaxy Entertainment Group Limited, Stanford Hotels International and K. Wah Construction Materials Limited. Today, K. Wah Group has developed into a multi-national conglomerate, one of Asia’s largest and leading conglomerates involving diversified businesses including properties, entertainment and leisure, hospitality, and construction materials with over 200 subsidiaries and close to 30,000 employees worldwide. The foothold of the business covers Hong Kong, Mainland China, Macau, North America and Southeast Asia. A distinguished philanthropist, Dr. Lui has been particularly supportive of the development of medical care, education and hotel and tourism industries. In 2014, Dr. Lui established a HK$1.3 billion GEG Charitable Foundation to cultivate in the young proper moral values and nurture their sense of belonging to society and the community.

About LUI Che Woo Prize Limited (“Prize Company”)

The Prize Company is a charitable company limited by guarantee incorporated in Hong Kong. Nomination and its related work are handled by the Secretariat. The Prize Company is led and supervised by the Board of Governors and is responsible for the daily administration, coordination and liaison with the Board of Governors, the Prize Council, the Prize Recommendation Committee and the Selection Panels to ensure the highest standards of integrity and transparency in relation to the Prize are upheld.

Photo – https://photos.prnasia.com/prnh/20180629/2177060-1-a
Photo – https://photos.prnasia.com/prnh/20180629/2177060-1-b
Photo – https://photos.prnasia.com/prnh/20180629/2177060-1-c

SHANGHAI, June 29, 2018 /PRNewswire/ — I-Mab Biopharma, a company focusing on innovative Biologics in therapeutic areas of immuno-oncology and immuno-inflammation, announced the completion of Series C financing for USD 220 million, representing one of the largest amounts ever raised in Series C by an innovative biotech company in China. This round of funding was led by Hony Capital, with participations from Hillhouse Capital, HOPU Investments, CDH Investment, Ally Bridge Group, Singapore-based EDBI, and existing investors C-Bridge Capital and Tasly Capital. China Renaissance was designated as the sole financial advisor for this series of financing.

I-Mab Management Team

The proceeds of the financing will be used primarily to advance the pre-clinical and clinical development of a number of Best-in-Class and First-in-Class assets.

As a China-based innovative company specialized in oncology and autoimmune diseases, I-Mab Biopharma has rapidly built a globally competitive pipeline through its unique strength in target biology, antibody engineering as well as pre-clinical & clinical development. Currently, I-Mab has more than ten investigational drugs under development, and has forged partnerships with leading biotech and pharma companies, such as Genexine, Ferring Pharmaceuticals, MorphoSys AG, and CROs, which include WuXi Biologics, TigerMed and others.

A fresh round of fundraising came at the heels of the Company’s Series B financing of USD 150 million in March, 2017, and by retaining the world’s top investors in this round, I-Mab further demonstrated its development strengths and capabilities in innovative antibodies globally. 

“We are very proud that our innovative research and clinical development capabilities are recognized by the leading investors. In a very short time, I-Mab has built a globally competitive pipeline and a highly experienced team to deliver the pipeline milestones. This round of financing will facilitate further development of our innovative assets in China and internationally”, said Dr. Jingwu Zang, the founder and CEO of I-Mab.

“We are very excited about participating in this round of financing. Hony Capital has a long-term relationship with Dr. Zang and highly values his management team. I-Mab is uniquely positioned with a sharp focus on the development of innovative medicines. It has established a globally competitive pipeline through a compelling strategy and an elite team with strong R&D capabilities. Hony Capital is highly confident about I-Mab’s ability to leverage on its resources and attain future success,” said Bing Yuan, Managing Director of Hony Capital.

“I-Mab has made remarkable progress in delivering company and project milestones as well as assembling a world class team, C-Bridge Capital is honored to make a further investment in I-Mab, and we believe that I-Mab will be able to fulfill its mission to develop transformational medicines to improve the lives of patients around the world,” commented Wei Fu, Founding Partner of C-Bridge Capital.

About I-Mab:

Facilitated by a merger between Third Venture Biotech and Tasgen Bio, which was followed by a Series B financing of USD 150 million in 2017, I-Mab has rapidly built a world-class R&D capability and highly experienced team.

I-Mab focuses on discovery and development of First-in-Class and Best-in-Class biologics in the areas of immuno-oncology and immuno-inflammation. The company has already submitted several IND applications and is prepared to submit additional INDs in order to initiate clinical trials in China and the US, including multiple Phase 2 and Phase 3 studies. I-Mab is on a fast track toward becoming an end-to-end fully integrated biopharma company. 

Photo – https://photos.prnasia.com/prnh/20180629/2176887-1

ZHUHAI, China, July 1, 2018 /PRNewswire/ — The 4th China-Israel Investment Summit will be held at the Zhuhai International Convention and Exhibition Center from July 2nd to 3rd. This summit is guided by National Development and Reform Commission of China, Ministry of Regional Cooperation of Israel, Ministry for Social Equality of Israel, and the People’s Government of Guangdong Province, hosted by International Cooperation Center of National Development and Reform Commission of China, the Consulate General of Israel in Guangzhou, and the People’s Government of Zhuhai Municipality, co-organized with Ministry of Economy and Industry of Israel, Development and Reform Commission of Guangdong Province, Economic and Information Commission of Guangdong Province, Department of Science and Technology of Guangdong Province, Department of Commerce of Guangdong Province, People’s Government of Shantou Municipality, Zhuhai Huafa Group and Infinity Group of Israel.

The 4th China-Israel Investment Summit will begin on July 2nd

The conference will focus on the theme of “Innovation Cooperation for a Bright and Smart Future in the Guangdong – Hong Kong-Macao Greater Bay Area” and combined with Zhuhai’s development direction for emerging industries, formulate a conference main forum and five industry sub-forums involving new and emerging industries of science and technology, namely Smart Manufacturing 2025, Digital Economy, Biomedicine, Intellectual Property, and Smart City. At the same time, it will conduct precise peer-to-peer invitations and dockings, hold Sino-Israeli B2B “one-on-one” docking exchanges, promote the economic and trade cooperation as well as the introduction of investment projects between China and Israel, and propel the healthy and rapid development of emerging industries in Zhuhai.

The summit invited officials like Mr. Nagev Cohen, who is the Consulate General of Israel in Guangzhou, and Mr. Tzachi Hanegbi, who is the Isreali Minister of Regional Cooperation. This deepens the exchange and cooperation between China and Israel. Other senior representatives, including Mr. Yao Yudong, former Director of the Financial Research Institute of People’s Bank of China, Mr. Yu Yi, President and Managing Director of Greater China of Accenture Digital Services, Mr. Xiong Yi, IBM Global Vice President, Ms. Dong Mingzhu, Chairperson and President of Zhuhai Gree Electric Appliance Co., Ltd, Mr. Wu Guangquan, Rresident and Departmental Secretary of Party Committee of China National Aero-Technology International Holdings Limited (AVIC International), Mr. Shraga Brosh, President of the Manufacturers’ Association of Israel, and Dr. Oded Shoseyov, Prof. Protein Engineering and Nano-Biotechnology of the Hebrew University of Jerusalem, will also attend the opening ceremony and join the discussion of topics such as Sino-Isreali technology & innovation cooperation and the development of the Guangdong – Hong Kong-Macau Greater Bay Area.

During the conference, Chinese and Israeli companies and institutions will hold negotiations and agreement-signings on dozens of cooperation projects, and there will be more than 2,000 B2B companies docking together. Tencent, Alibaba, IBM, IDG Capital, Accenture, ACAC, Foxconn, Beijing Automotive, and other publicly-known companies are among the participating companies, as well as elites in niche, such Hikvision, which ranks the first in video surveillance worldwide, Foxconn M Sub-group (Health Care Business Group) and others. The areas of cooperation include financial science and technology, industrial manufacturing, mobile communications and Internet, agricultural science and technology, and clean energy. The total investment involved is nearly 10 billion yuan.

As of June 27, 2,000 companies and organizations from China and Israel have registered for this summit with more than 5,000 participants, including nearly 250 representatives of Israeli government agencies and outstanding companies. Registered companies mainly cover industrial manufacturing and automation, mobile communications and Internet, clean energy, agricultural science and food technology, Internet of things, automotive technology, financial technology, industrial applications, life sciences, academic research and other fields.

Photo – https://photos.prnasia.com/prnh/20180701/2177794-1

Source: Shanghai United Imaging Healthcare Co., Ltd.

HONG KONG, June 29, 2018 /PRNewswire/ — PwC Hong Kong (“PwC”) has entered into an investment agreement today with Vitargent International Holdings Limited (“Vitargent”), a pioneer in bio-testing technology for product safety. This is PwC’s first proposed investment in the biotechnology and internet platform space, bringing together the strengths of PwC and Vitargent to address evolving challenges in food and consumer product safety across Greater China and beyond.

Raymund Chao, PwC Asia Pacific and Greater China Chairman, and Jimmy Tao, Chief Executive Officer, Vitargent, officiated at a signing ceremony held in Hong Kong today.

Vitargent is an award-winning biotechnology company specialising in product safety testing with its pioneering fish-embryo based toxicity testing technology. Backed by 10+ institutional investors and with input from its Scientific Advisory Board comprising experts from across the globe, Vitargent’s technology is serving 50+ leading companies and organisations including governments, research institutes, testing laboratories, major international skincare and cosmetics companies, food manufacturers and catering groups around the world.

Since forming a strategic alliance earlier this year in February, PwC and Vitargent have worked collaboratively to build a professional team of over 30 experts, actively providing a holistic one-stop solution to food manufacturers and suppliers to improve their quality of products and giving accreditation to companies that offer excellent quality. Vitargent also issues Test-it™ reports and safe-to-buy product lists to the public with PwC as a strategic partner providing professional services and a foundation for public trust across our markets. Our combined expertise brings these product safety resources to market equipping the public with better knowledge to make safer choices, and serving as an important tool for consumers to gain trust in brands and manufacturers.

Raymund Chao says, “We are delighted to establish a deeper relationship with Vitargent, whose innovative testing solutions complement PwC’s professional capabilities to tackle longstanding challenges in food integrity. This investment agreement is a significant step in furthering PwC’s purpose of solving important problems and building trust in society. By staying at the forefront of food safety innovations, PwC aims to reinforce our end-to-end services to help clients strengthen their competitive advantage, enhance consumer confidence and protect and enhance their reputation. Looking ahead, we are ready to deliver greater value to the food and consumer markets, with a focus on driving commercial growth while balancing that with consumer trust and regulatory concerns. Together, we can work towards building a safer and more sustainable future in food and other consumer products.”

Jimmy Tao says, “We are pleased to have PwC’s support in solving food safety issues and enhancing public trust in food supply. Food safety measures must be prioritised, in view of the global food safety violations and recalls of food in supply over the last decade. We will work closely to ensure food manufacturers and suppliers, across Greater China and beyond, will benefit from Vitargent’s advanced bio-toxicity testing technology, which provides early warnings to unsafe products and helps avoid potentially disastrous consequences. By sharing our industrial experience and expertise, we are setting a safety standard that is beyond regulatory requirements. We are building the world’s largest database of bio-data for consumer products that will add value to business and instil confidence to consumers and other stakeholders.”

Notes to Editors

About Vitargent

With nearly 15 years of biotechnology research and development and achievement by the co-founders, Vitargent commercialised the technology in 2010 with the vision of “Smarter Testing, Safer Products, Better World”. We are a pioneer in the field of applying fish embryo-based toxicity testing technology to ensure product safety. We are the proud winners of the Grand Prix at the International Exhibition of Inventions of Geneva (2015). We are backed by 10+ institutional investors. With hands-on guidance from our world-renowned Scientific and Business Advisory Boards, we combine technological expertise with social responsibility. We aid manufacturers to improve product safety and enhance consumers’ confidence in making safer purchases. We have served over 50+ top-notch testing organisations, governments, research institutes, major international skincare and cosmetics companies and catering groups around the world. With the firm support of these entities, we are working towards incorporating the technology into regional and international safety standards.

About Test-it™

Test-it™ is the consumer information product safety platform under Vitargent, the world’s first with Testing 2.0 bio-testing technology. It provides information for consumers to access in everyday lives. Find out more by visiting us at www.fishqc.com.

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We are a network of firms in 158 countries with more than 236,000 people who are committed to delivering quality in assurance, advisory and tax services. In China, including Hong Kong, we have over 18,000 people and are located in 23 cities.

Consumer confidence around food safety is a very significant societal concern, China’s food sector is evolving rapidly. PwC’s Food Supply & Integrity Services combine food industry expertise with our capabilities in risk management, internal controls, supply chain, strategy, compliance, capital markets and M&A to help our clients achieve lasting success. Our services enable a variety of clients to deliver safe, quality food while building growing and profitable businesses. 

Media Contact:

Wing Kwong, Vitargent
Email: wing.kwong@vitargent.com

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Successfully Listed on KOSDAQ

SEOUL, South Korea, June 29, 2018 /PRNewswire/ — Eone-Diagnomics Genome Center (EDGC; Co-CEO, Minseob Lee, Shangcheol Shin), the global leading company in genomic analysis, has successfully completed the ceremony celebrating its listing on the Korea Securities Dealer Automated Quotation (KOSDAQ) at the Korea Exchange on June 26.

EDGC is the international joint venture between Eone Life Science Institute in South Korea and Diagnomics in the Unites States of America. EDGC was established in 2013. It analyzes personal genes based on big-data technology, predicts genetic diseases and suggests personalized lifestyles to prevent diseases.

EDGC mainly provides clinical and consumer genetic services based on Next Generation Sequencing (NGS) technology: the first integrated genotype and phenotype test ‘MYGENPLAN™’, personalized medical check-up ‘gene2me^®Plus’, inherited ophthalmologic genetic screening test ‘MyEyeGene^®‘, non-invasive prenatal test ‘NICE^®‘, newborn genetic screening test ‘bebegene^®‘ and so on. In addition, it has focused to enhance its competitiveness through the business expansion into the area of liquid biopsy, transplant rejection.

EDGC is striving to develop and dominate overseas markets including the Chinese market. It plans to accelerate and make headway in the market by providing genomic analysis services and transferring technologies to overseas companies. Current services available in Southeast Asia and Middle East have provided excellent business results. To target overseas markets, it has acquired domestic and international certifications including, College of American Pathologists (CAP), Clinical Laboratory Improvement Amendments (CLIA), CommunauteEuropeen (CE), International Organization for Standardization (ISO) 13485.

The business value of EDGC is estimated at KRW 400 billion. The largest shareholders of EDGC are Cheol Ok Lee, Chairman of Eone Life Science Institute, largest commercial laboratory in South Korea; Kolmar Korea Holdings which is the global No. 1 in cosmetics Original Design Manufacturing (ODM); and Jun Il Kim, Founder of Lock & Lock. EDGC has attracted attention from the public prior to its listing due to the strong business results.

Shang Cheol Shin, co-CEO of EDGC, said listing on the KOSDAQ is the result of efforts by numerous people, and he added EDGC will help all the people improve their health and welfare and finally become the company which proposes the change of paradigm.

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Source: China Jo-Jo Drugstores, Inc.