Daily Archives: November 9, 2017

USSOCOM Awards Vricon Foreign Comparative Test Contract

Vricon to increase the resolution and accuracy of SOCOM’s 3D geospatial data

McLean, Virginia, Nov. 09, 2017 (GLOBE NEWSWIRE) — The US Special Operations Command (USSOCOM) awarded Vricon a contract for a Foreign Comparative Test for commercial data, software, and testing to increase the resolution and accuracy of the Command’s 3D geospatial data.  Vricon also will work to automate workflows to reduce manual processes involved in producing enhanced geospatial data and 3D scene visualizations.

“This collaboration between SOCOM and Vricon should result in superior geospatial data, as well a reduction in time-consuming manual work to produce the data,” said Magnus Brege, Vricon CEO. “These results are increasingly important in a time when national security is dependent upon ever-shrinking timelines and precise information.”

The sole source award is based on USSOCOM’s assessment that Vricon “is the only vendor which currently has the highly specialized software algorithms to generate pre-processed 3D data capable of meeting the government’s requirements…” The contract is valued at approximately $1.3 million.

About Vricon

Vricon serves the global professional geospatial market with world-leading 3D geospatial and digital elevation data and 3D visualization solutions. Vricon is headquartered in McLean, Virginia. For further information, visit vricon.com.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b11c5e0f-7851-405d-ac56-080164e00f0a

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/86993422-66cc-4cf5-a0c8-e7cead79303b

Craig Brower
Vricon
703-283-4588
craig.brower@vricon.com

Nasdaq Wins RiskTech100® Best Operational Risk & GRC Category

Awarded by Chartis Research, the accolade spotlights the major players in risk technology 

NEW YORK, Nov. 09, 2017 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq:NDAQ), one of the world’s leading Governance, Risk management and Compliance (GRC) solution providers, has won the Best Operational Risk & GRC provider at the RiskTech100® 2018 awards.

Nasdaq’s four commercial offerings were considered for the award:

  •          BWise: Governance, Risk & Compliance software solutions
  •          SMARTS: Trade Surveillance and Market Surveillance solutions
  •          TradeGuard: Pre-Trade Risk Management technology
  •          Nasdaq Boardvantage: An online board portal, designed to increase collaboration and good governance

“We are thrilled to be named the winner of the Operational Risk and GRC category,” said Lars Ottersgård, EVP & Head of Market Technology, Nasdaq. “In today’s economy, access to capital can only be obtained when there is sufficient trust and transparency. Nasdaq provides the technology to help companies achieve their ambitions, build trust and be transparent, whether it’s driven by GRC, board & leadership communications or (pre-) trade risk management & surveillance efforts. This recognition by Chartis underscores our current and future commitment in this space.”

“Nasdaq has embraced new technologies and addressed important industry demands over the past year,” said Rob Stubbs, Head of Research, Chartis. “We expect it to continue to progress as a provider of GRC and operational risk software.”

The awards are organized by Chartis Research – the leading provider of research and analysis on the global market for risk technology – and recognize the major players in this area. The winners and subsequent rankings are based on Chartis’ analysis into market trends, participants, expenditure patterns and best practices. The analysis has been validated through several phases of independent verification and is the most comprehensive study of its kind, having researched 40,000 risk technology buyers globally (70% in financial services, 30% in non-financial services).

About Nasdaq

Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $12 trillion. To learn more, visit: http://business.nasdaq.com

About Chartis Research

Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and Waters Technology. Chartis’ goal is to support enterprises as they drive business performance through improved risk management, corporate governance and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.

For Media Inquiries
Nasdaq
Ryan Wells
ryan.wells@nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile:  +44 (0) 7809 596 390

-NDAQG-

Disruptive Semiconductor Technology Leader Luxcore Signs Multi-year Colocation Deal with INAP

Luxcore selects INAP to support their ground breaking second generation LambdaRouterTM — the first full wavelength optical router.

INAP chosen for its global presence in strategic markets, carrier neutrality and signature Performance IPTM service.

ATLANTA, Nov. 09, 2017 (GLOBE NEWSWIRE) — Internap Corporation (NASDAQ:INAP), (“INAP” or the “Company”), a provider of high-performance internet infrastructure including colocation, cloud and network services, and Luxcore, pioneers of a revolutionary all-optical wavelength routing platform, today announced a multi-year agreement for colocation services in seven global locations.

Luxcore, creator of the LambdaRouterTM – the world’s first all-optical, wavelength switching, routing and transport system, selected INAP as its strategic partner to access the company’s global coverage and connectivity to Tier 1 providers, utilizing INAP’s access to dark fiber at all its locations.  To demonstrate its disruptive technology during its initial rollout, Luxcore selected seven INAP data centers in the following major markets: Atlanta, Dallas, Silicon Valley (Santa Clara), New York & New Jersey Metro Area, Northern Virginia & D.C. Metro Area, Singapore and Amsterdam.

“Luxcore is poised to lead a significant shift in the underlying technology of the internet and we are excited to be their partner on that journey,” said Corey Needles, INAP COLO’s SVP and General Manager. “Given our global reach and network connectivity utilizing multiple carrier networks and our own fiber, we are uniquely positioned to help Luxcore succeed.”

Luxcore is strategically partnering with INAP in a flagship venture to deliver the industry’s first all-optical wavelength switching, routing and transport capabilities of the second generation LambdaRouterTM.  When combined with INAP’s global reach, unprecedented Tier 1 interconnectivity and dark fiber, Luxcore will introduce the “Optical Internet” providing significant new revenue opportunities for both INAP and Luxcore.

“When we introduced our first LambdaRouterTM in Spring of 2001, it was the world’s first and only multi-terabit wavelength switching, routing and transport system based on proprietary optical semiconductor technology. The global telecom market subsequently collapsed and many said we were way ahead of our time. 15 years ago, there was no demand for such robust optical capacity. Fast forward to today’s mobile, social and device-driven data economy and the need for ultra-high speed bandwidth is an absolute necessity. Global internet traffic has grown exponentially measured in zettabytes, and the underlying backbone infrastructure has hit a wall. Partnering with INAP allows Luxcore to fulfill its original corporate vision – to build the new ‘Optical Internet,’” said Gerald Ramdeen, Luxcore Chairman and CEO.

With over 1 million square feet in 21 metropolitan markets and 89 POPs, INAP’s collocation and network services offers the proximity and connectivity needed for INAP customers to be successful in the global marketplace.

About INAP

Internap Corporation (NASDAQ: INAP) is a leading provider of internet infrastructure through both Colocation Business and Enterprise Services (including colocation, network connectivity, IP, bandwidth and managed hosting) and Cloud Services (including enterprise-grade AgileCLOUD, bare-metal servers and SMB iWeb platforms). INAP operates in Tier 3-type data centers in 21 metropolitan markets, primarily in North America, with 50 data centers and 89 POPs around the world. INAP operates a premium business model that provides high-power density colocation, low-latency bandwidth, and public and private cloud platforms in an expanding internet infrastructure industry. For more information, visit www.INAP.com

About Luxcore

2001, Luxcore introduced the LambdaRouterTM – the world’s first fully-integrated, all-optical switching, routing and transport system built upon proprietary semiconductor technology having origins from the Stanford University Center for Novel Optoelectronic Materials (CNOM), demonstrating 2.5Gbs and 10Gbs single port speeds at the lowest cost per bit. Luxcore Networks, Luxcore Optronics, Jedai Networks, (formerly Jedai Broadband Networks) – now Luxcore, Inc. has since leveraged in excess of $100MM in venture funding from prominent VC and private equity firms to develop the second generation of our award-winning LambdaRouterTM and the LambdaExchangeTM – introducing 100Gbs single port speeds at the lowest cost per bit.  For more information, visit www.luxcore.com.

NAP Media Contacts

Richard Ramlall, VP IR & PR
(404) 302-9982

Clay Boothby
(202) 595-4923

Luxcore Media Contacts

Tamer Yacoub, VP Corporate Alliances
(212) 618-1724

Dino Ianniello
SilverMoss
(770) 573-1733

RedHill Biopharma Announces Last Patient Enrolled in the Phase III Study with RHB-104 for Crohn’s Disease

  • Top-line results are expected to be announced in mid-2018
  • The Phase III study evaluating RHB-104 for Crohn’s disease (MAP US study) is a randomized, double-blind, placebo-controlled study that is evaluating the safety and efficacy of RHB-104 in 331 subjects with moderately to severely active Crohn’s disease
  • Worldwide sales of Crohn’s disease therapies exceeded $7.6 billion in 2016
  • A pivotal Phase III study with RHB-104 for Nontuberculous Mycobacteria (NTM) infections, with Fast-Track development status, is planned to be initiated in H1/2018          

TEL-AVIV, Israel and RALEIGH, N.C., Nov. 09, 2017 (GLOBE NEWSWIRE) — RedHill Biopharma Ltd. (NASDAQ:RDHL) (Tel-Aviv Stock Exchange:RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company primarily focused on late clinical-stage development and commercialization of proprietary drugs for gastrointestinal and inflammatory diseases and cancer, today announced that the last patient has been enrolled in the Phase III study with RHB-104 for Crohn’s disease (MAP US study). Top-line results are expected to be announced in mid-2018.

The MAP US study is a randomized, double-blind, placebo-controlled first Phase III study evaluating the safety and efficacy of RHB-104 in subjects with moderately to severely active Crohn’s disease (defined as Crohn’s Disease Active Index (CDAI) between 220 and 450). The primary endpoint of the MAP US study is disease remission, defined as a reduction in CDAI to less than 150 at week 26. The study enrolled 331 patients across approximately 150 clinical sites in the U.S., Canada, Europe, Israel, Australia and New Zealand.

Two pre-planned independent Data and Safety Monitoring Board (DSMB) meetings have been held to review data from the MAP US study, in which unanimous recommendations were given to continue the study without any changes to the protocol, investigator’s brochure, study conduct or informed consent form. At the first DSMB meeting, held in December 2016, safety data from the study was reviewed. At the second DSMB meeting, held in July 2017, safety and efficacy data from the first 222 subjects who had completed week 26 assessments of the study was reviewed.

In addition, an open-label extension Phase III study (the MAP US2 study) continues to evaluate the safety and efficacy of RHB-104 in subjects who remain with active Crohn’s disease (CDAI ≥ 150) after 26 weeks of blinded study therapy in the ongoing Phase III MAP US study. These subjects have the opportunity to receive treatment with RHB-104 for a 52-week period in the open-label MAP US2 extension study. The data collected in the MAP US2 study will be supplemental to the MAP US study data. The MAP US2 study’s primary endpoint is disease remission at week 16, defined as CDAI of less than 150. The MAP US2 study is planned to enroll approximately 50-70 subjects in the U.S., Canada, Europe, Israel and New Zealand. Additional open-label studies with RHB-104 for Crohn’s disease are being planned to generate further supportive clinical data for potential future marketing applications.

Additional clinical studies are likely to be required to support a U.S. New Drug Application (NDA) for RHB-104. If the MAP US study results are positive, RedHill will meet with the U.S. Food and Drug Administration (FDA) and key opinion leaders to present the data package and discuss the preferred development path.

The worldwide sales of Crohn’s disease therapies exceeded $7.6 billion in 20161.

In addition to the ongoing Phase III studies with RHB-104 for Crohn’s disease, RedHill plans, subject to regulatory approvals, to initiate a pivotal Phase III study with RHB-104 for the treatment of nontuberculous mycobacteria (NTM) infections in the U.S. in the first half of 2018. RHB-104 was granted Qualified Infectious Disease Product (QIDP) status by the FDA for the treatment of NTM infections. QIDP designation allows for Fast-Track development status, Priority Review of an NDA, if filed, and an additional five years of U.S. market exclusivity on top of the standard exclusivity period or Orphan Designation exclusivity period, as applicable, for a total U.S. market exclusivity of 8-12 years.

The clinical studies with RHB-104 are registered on www.ClinicalTrials.gov, a web-based service of the U.S. National Institute of Health, which provides access to information on publicly and privately-supported clinical studies.

About RHB-104:      
Currently in a first Phase III study for the treatment of Crohn’s disease (the MAP US study), with top-line results expected in mid-2018, RHB-104 is a proprietary, orally-administered, potentially ground-breaking oral antibiotic combination therapy, with potent intracellular, antimycobacterial and anti-inflammatory properties. RHB-104 is based on increasing evidence supporting the hypothesis that Crohn’s disease is related to Mycobacterium avium subspecies paratuberculosis (MAP) infection in susceptible patients. The development of RHB-104 is consistent with the growing awareness of the possibility that a bacterially-induced dysregulated immune system may contribute to the pathogenesis of various autoimmune diseases of unknown etiology. Clinical trials conducted with earlier formulations of RHB-104 include an Australian Phase III study conducted by Pharmacia/Pfizer. RedHill has conducted several supportive studies with the current formulation of RHB-104 and a long-term population pharmacokinetic (pop-PK) study is ongoing as part of the Phase III MAP US study. Additionally, an open-label extension Phase III study (the MAP US2 study) is ongoing to assess the safety and efficacy of RHB-104 in subjects who have completed week 26 assessments in the ongoing Phase III MAP US study and remain with active Crohn’s disease (CDAI ≥ 150) at week 26. RHB-104 is covered by several issued and pending patents. RHB-104 was granted Qualified Infectious Disease Product (QIDP) designation by the U.S. FDA for the treatment of nontuberculous mycobacteria (NTM) infections, providing a Fast-Track development pathway, as well as NDA Priority Review and an additional five years of U.S. market exclusivity, if approved. A pivotal Phase III study with RHB-104 for NTM infections is planned to be initiated. RedHill also completed a Phase IIa, proof-of-concept clinical study, evaluating RHB-104 as an add-on therapy to interferon beta-1a in subjects treated for relapsing-remitting multiple sclerosis (the CEASE MS study), supporting additional studies.

About RedHill Biopharma Ltd.:
RedHill Biopharma Ltd. (NASDAQ:RDHL) (Tel-Aviv Stock Exchange:RDHL) is a specialty biopharmaceutical company, primarily focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer. RedHill promotes three gastrointestinal products in the U.S., and its clinical-stage pipeline includes treatments for gastrointestinal indications, pancreatic cancer and acute migraines: Donnatal® a prescription oral adjunctive drug used in the treatment of IBS and acute enterocolitis; Esomeprazole Strontium Delayed-Release Capsules 49.3 mg – a prescription proton pump inhibitor indicated for adults for the treatment of gastroesophageal reflux disease (GERD) and other gastrointestinal conditions; and EnteraGam® – a medical food intended for the dietary management, under medical supervision, of chronic diarrhea and loose stools. RedHill’s clinical-stage pipeline includes: (i) TALICIA (RHB-105) an oral combination therapy for the treatment of Helicobacter pylori infection with successful results from a first Phase III study and an ongoing confirmatory Phase III study; (ii) RHB-104 an oral combination therapy for the treatment of Crohn’s disease with an ongoing first Phase III study, a completed proof-of-concept Phase IIa study for multiple sclerosis, and a planned pivotal Phase III study for nontuberculous mycobacteria (NTM) infections; (iii) BEKINDA® (RHB-102) a once-daily oral pill formulation of ondansetron with successful top-line results from a Phase III study in acute gastroenteritis and gastritis and successful top-line results from a Phase II study in IBS-D; (iv) RHB-106 an encapsulated bowel preparation licensed to Salix Pharmaceuticals, Ltd.; (v) YELIVA® (ABC294640) a Phase II-stage, orally-administered, first-in-class SK2 selective inhibitor targeting multiple oncology, inflammatory and gastrointestinal indications; (vi) MESUPRON – a Phase II-stage first-in-class, orally-administered protease inhibitor, targeting pancreatic cancer and inflammatory gastrointestinal diseases and (vii) RIZAPORT® (RHB-103) – an oral thin-film formulation of rizatriptan for acute migraines, with a U.S. NDA resubmitted to the FDA and marketing authorization received in two EU member states under the European Decentralized Procedure (DCP).

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the initiation, timing, progress and results of the Company’s research, manufacturing, preclinical studies, clinical trials, and other therapeutic candidate development efforts; (ii) the Company’s ability to advance its therapeutic candidates into clinical trials or to successfully complete its preclinical studies or clinical trials; (iii) the extent and number of additional studies that the Company may be required to conduct and the Company’s receipt of regulatory approvals for its therapeutic candidates, and the timing of other regulatory filings, approvals and feedback; (iv) the manufacturing, clinical development, commercialization, and market acceptance of the Company’s therapeutic candidates; (v) the Company’s ability to successfully market Donnatal® and EnteraGam®; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) the Company’s ability to acquire products approved for marketing in the U.S. that achieve commercial success and build its own marketing and commercialization capabilities; (viii) the interpretation of the properties and characteristics of the Company’s therapeutic candidates and the results obtained with its therapeutic candidates in research, preclinical studies or clinical trials; (ix) the implementation of the Company’s business model, strategic plans for its business and therapeutic candidates; (x) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its therapeutic candidates and its ability to operate its business without infringing the intellectual property rights of others; (xi) parties from whom the Company licenses its intellectual property defaulting in their obligations to the Company; (xii) estimates of the Company’s expenses, future revenues capital requirements and needs for additional financing; (xiii) the effect of patients suffering adverse experiences using investigative drugs under the Company’s Expanded Access Program; and (xiv) competition from other companies and technologies within the Company’s industry. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 20-F filed with the SEC on February 23, 2017. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law.

Company contact:
Adi Frish
Senior VP Business Development & Licensing
RedHill Biopharma
+972-54-6543-112
adi@redhillbio.com
IR contact (U.S.):
Marcy Nanus
Senior Vice President
The Trout Group
+1-646-378-2927
Mnanus@troutgroup.com

1 EvaluatePharma, estimated market for diagnosis and drug treatment of Crohn’s disease, January 2017.

VistaJet Customers Grow by 50% in the Middle East as the Company Expands Its Reach

The leader in global business aviation increases its offering to continue positive momentum in the region

  • New Program hours doubled year over year
  • New Program customers rose by 50% year over year
  • Full flying service now available in and out of Saudi Arabia as expansion continues
  • Results follow $150 million investment from Rhône Capital    

DUBAI, United Arab Emirates, Nov. 09, 2017 (GLOBE NEWSWIRE) — VistaJet, the first and only global aviation company, announces today positive results for the Middle East, highlighting the global trend of individuals and corporations moving away from fractional and full aircraft ownership.Direct_SocialMedia_Dubai

Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/1182a0ac-fee1-471d-ac41-9ed03d694641

http://www.globenewswire.com/NewsRoom/AttachmentNg/40cedebc-6ebd-40d8-9cbd-4a3f858c8472

http://www.globenewswire.com/NewsRoom/AttachmentNg/0dd92375-2b88-455b-af75-9a8311f8f645

Regionally, the company has seen its flagship Program Membership hours double this year, driven by an increase of 50% in the number of its Program customers. With clients buying more hours to meet their flying needs, VistaJet considerably surpasses the overall Middle East business aviation sector’s results, which is forecast to realise a 9% growth this year.

To enhance services for its Middle Eastern customers, VistaJet has additionally announced its approval to operate to and from Saudi Arabia, a country that accounts for VistaJet’s greatest share of Middle Eastern customers at 39%, followed by the United Arab Emirates with a 30% share, and Qatar, Kuwait and Egypt with 7% respectively. Saudi Arabia has even more potential for growth and as the first and only global operator to abolish positioning fees around the globe, VistaJet will enable its customers to seamlessly connect to and from the country, anytime and anywhere.

The company has visited over 1,600 airports globally and 68 in the Middle East, of which Dubai currently proves favorable for VistaJet customers flying in from Moscow, London, Nice and Mumbai; the highest traffic drivers for the region. The rising importance of private jet travel in the Middle East is characterized by the increase in companies launching their business subsidiaries in the region. With VistaJet’s global infrastructure, guaranteed aircraft availability and access to a fleet of over 70 identical large-cabin aircraft, VistaJet is perfectly positioned to deliver further positive results over the coming years.Global 6000 9H-VJA

In the past five years, the Middle East has seen a major shift to corporate use and currently 70% of overall private aviation flights within the region are for business purposes. In addition, superior high levels of service continue to be fundamental for local passengers. VistaJet tailors each flight to its customers’ needs; aircraft are able to serve as an office in the sky for customers needing to prepare for meetings and maximize productivity. Additionally, a Cabin Hostess trained by the British Butler Institute on every flight ensures customers receive an exceptional service, from in-flight entertainment to exclusive menus curated by the world’s most renowned chefs.

As a result of 13 years of investment and development, VistaJet is one of the most technologically integrated companies in business aviation. This year, the company introduced VistaJet Direct, a new digital membership giving customers priority access to available one-way and empty leg flights via the company’s app and website. VistaJet Direct is the first app membership in the industry able to offer a fully integrated end-to-end service for its customers.

Thomas Flohr, VistaJet’s Founder and Chairman, stated: “We’re delighted to announce today’s results as VistaJet continues to provide a valuable proposition for business leaders and an alternative to aircraft ownership. With a growing demand for global travel in the Middle East, we foresee a continued increase in our customer base in the region. We are leading the industry and relentlessly strive to deliver an unparalleled global service to our customers. With our extension to operate in and out of Saudi Arabia, this will further enable business leaders to travel seamlessly throughout the Middle East and to the rest of the world.”CH850-3651-002-150dpi-CMYK_NoSeatbelts

Following the $150 million investment from Rhône Capital, valuing VistaJet in excess of $2.5 billion, the company is well placed to capture even more market share by offering global coverage, consistent unparalleled quality and maximum productivity.

About VistaJet
VistaJet is the first and only global aviation company. On its fleet of silver and red business jets, VistaJet has flown corporations, governments and private clients to 187 countries worldwide. Founded in 2004 by Thomas Flohr, the company pioneered an innovative business model where customers pay only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership. VistaJet’s signature Program service offers customers a bespoke subscription of flight hours on its fleet of mid and long-range jets, to fly them anywhere and at any time.

More VistaJet information and news at vistajet.com.

Information 

Jennifer Tyler
VistaJet International
T: +44 (0) 203 617 3077
M: +44 (0) 7834 335505
jennifer.tyler@vistajet.com

James Leviton
Finsbury
T: +44 207 251 3851
VistaJet@finsbury.com

Telix Pharmaceuticals Limited Successfully Completes $50 Million Oversubscribed Initial Public Offering

MELBOURNE, Australia, Nov. 09, 2017 (GLOBE NEWSWIRE) — Telix Pharmaceuticals Limited (“Telix”, the “Company”), an Australian biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or “molecularly-targeted radiation” (MTR), has successfully raised $50 million following the close of its fully underwritten Initial Public Offering (IPO). The IPO was strongly supported by institutional investors internationally and domestically, as well as by retail investors in Australia.

Telix’s shares are due to begin trading on the Australian Securities Exchange (ASX) on 15th November 2017 under the ticker code TLX. The IPO, with a total of 77.0 million shares issued at $0.65 per share, gives Telix a market capitalisation of $128 million. The IPO was fully underwritten by the Lead Managers, Taylor Collison Limited and Wilsons Corporate Finance Limited.

The IPO was also strongly supported by existing shareholders, which include both industry partners and domestic institutional investors such as Acorn Capital, CVC, Monash Investors, Viburnum Funds, Alium Capital Management and Allan Moss. Fidelity International is a cornerstone investor in the IPO and will hold approximately 10% of the issued capital of the Company upon completion of the IPO.

Telix Co-Founder and CEO Dr. Christian Behrenbruch said the company was delighted with the strong support from investors.

“We would like to thank both existing and new investors for their support of the IPO and look forward to sharing the next phase of our journey with our shareholders. With established clinical data and several well-defined value inflection points in the coming months, this financing will enable Telix to deliver significant clinical and commercial outcomes.”

Telix Co-Founder and Chief Medical Officer Dr. Andreas Kluge noted, “We started the Telix journey over two years ago with the goal of creating momentum in a field of medicine that has great clinical potential but is only just starting to hit its commercial stride. We have built a company that we believe will have meaningful patient impact in disease areas with major unmet diagnostic and therapeutic need.”

Proceeds from the IPO will provide capital to fund the development and completion of clinical trials for Telix’s pipeline in renal (kidney), prostate and brain cancer (glioblastoma), and assist the Company to complete multiple clinical and product development milestones over the next 24 months.

Telix Pharmaceuticals Limited Investor and Media Relations
Dr Christian Behrenbruch Kyahn Williamson
Telix Pharmaceuticals WE Buchan
Tel: +61 (3) 9866 4722
Email: chris@telixpharma.com Email: kwilliamson@buchanwe.com.au