Monthly Archives: December 2017

Eloxx Pharmaceuticals Completes Acquisition Transaction with Sevion Therapeutics

Company to focus on advancing the clinical development of ELX-02, a disease-modifying therapy for genetic diseases caused by nonsense mutations

WALTHAM, Mass., REHOVOT, Israel, and SAN DIEGO, Dec. 22, 2017 (GLOBE NEWSWIRE) — Eloxx Pharmaceuticals Ltd. (“Eloxx”) and Sevion Therapeutics, Inc. (OTCQB:SVON) (“Sevion”) today announced the two companies have completed their previously announced acquisition transaction effective as of December 19, 2017.  The Company will be known as Eloxx Pharmaceuticals, Inc. following the completion of the transaction, and began trading on OTCQB Market under the new name effective as of December 20, 2017.

“This acquisition transaction marks a significant milestone as Eloxx transitions from a private to a publicly-traded company with significantly increased financial resources,” said Silvia Noiman, Ph.D., MBA, founder and Chief Executive Officer of Eloxx Pharmaceuticals. “We are now better positioned to advance our development programs and look forward to initiating multiple Phase 2 studies for ELX-02. In parallel, we intend to strengthen our company on all fronts and, most recently, we hired several key employees to support this effort.”

At the effective time of the transaction, all of the issued and outstanding ordinary and preferred shares of Eloxx stock were converted, on a pro rata basis, into the right to receive 20,316,656 shares of Sevion common stock, par value $0.01, after giving effect to the 1-for-20 reverse stock split. Following the reverse stock split and post-acquisition, the combined company has approximately 27.6 million shares outstanding.

About Eloxx Pharmaceuticals

Eloxx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing novel small molecule medicines to treat many rare and ultra-rare genetic diseases caused by nonsense mutations. Nonsense mutations are a class of genetic defects that result in premature termination of protein synthesis. As a consequence, patients with a genetic disease caused by nonsense mutations have absent or truncated nonfunctional proteins, accounting for some of the most severe phenotypes in these genetic diseases. Eloxx’s lead product candidate, ELX-02, is an optimized aminoglycoside designed to restore full-length functional proteins. Eloxx was founded in 2013 and maintains offices in Waltham, MA, and Rehovot, Israel.

Forward-Looking Statements

Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. All statements that address activities, events or developments that we intend, expect or believe may occur in the future are forward-looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors, including, but not limited to: the Company’s ability to continue as a going concern; the ability of the Company to consummate additional financings; the development of the Company’s antibody technology; the approval of the Company’s patent applications; the Company’s ability to successfully defend its intellectual property or obtain the necessary licenses at a cost acceptable to the Company, if at all; the successful implementation of the Company’s research and development programs and collaborations; the success of the Company’s license agreements; the acceptance by the market of the Company’s products; the timing and success of the Company’s preliminary studies, preclinical research and clinical trials; competition and the timing of projects and trends in future operating performance; and the quotation of the Company’s common stock on an over-the-counter securities market, as well as other factors expressed from time to time in the Company’s periodic filings with the Securities and Exchange Commission (the “SEC”). As a result, this press release should be read in conjunction with the Company’s periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update or revise such forward-looking statements to reflect subsequent events or circumstances.

Contacts:
Eloxx Pharmaceuticals
Greg Weaver, CFO
greg@eloxxpharma.com

Williams Scotsman Completes Acquisition of Acton Mobile

BALTIMORE, Dec. 21, 2017 (GLOBE NEWSWIRE) — WillScot Corporation (NASDAQ:WSC) (“Williams Scotsman”) today announced that it has completed its previously announced acquisition of Acton Mobile (ActonMobile.com) for a cash purchase price of approximately $235 million.

Williams Scotsman will have nearly 100,000 modular space and portable storage units serving approximately 35,000 customers from over 100 locations across the United States, Canada and Mexico.  Williams Scotsman will expand the breadth and depth of its Ready to Work services to existing and incremental customers and markets.

Brad Soultz, president and chief executive officer of Williams Scotsman, commented, “We are excited to complete our acquisition of Acton, and believe that it presents a compelling opportunity to strategically expand our Ready to Work solutions to existing and incremental customers and markets.  I am pleased to welcome the talented and experienced Acton employees to our Company, and look forward to the many growth opportunities ahead for Williams Scotsman.”

The transaction was funded with cash on hand and borrowings under its revolving credit agreement.

About WillScot Corporation

Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the Williams Scotsman family of companies in the United States, Canada and Mexico. WillScot Corporation trades on the NASDAQ stock exchange under the ticker symbol “WSC.” Williams Scotsman is a specialty rental services market leader providing innovative modular space and portable storage solutions across North America. Williams Scotsman is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. With over half a century of innovative history, organic growth and strategic acquisitions, its branch network includes over 100 locations, its fleet comprises nearly 100,000 modular space and portable storage units and its customer base has grown to approximately 35,000.

Forward Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: our inability to realize the anticipated benefits of the announced acquisition; costs related to the acquisition and integration of the acquired companies; our ability to manage growth and execute our business plan; our estimates of the size of the markets for our products; the rate and degree of market acceptance of our products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs adversely affecting our profitability; potential litigation involving our company; general economic and market conditions impacting demand for our products and services; and such other risks and uncertainties as are discussed under the heading “Risk Factors” in our Current Report on Form 8-K, filed with the Securities and Exchange Commission (“SEC”) on December 5, 2017 and those discussed in other reports filed with the SEC by us from time to time, including those discussed under such heading in our Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K to be filed with the SEC. Any forward-looking statement speaks only at the date which it is made, and Williams Scotsman disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Additional Information and Where to Find It

Additional information about the transaction can be found on the Williams Scotsman investor relations website at www.investors.willscot.com

Contact Information

Investor Inquiries:

Mark Barbalato
investors@willscot.com

Media Inquiries:

Scott Junk
scott.junk@willscot.com

Vietnam, Laos deepen political ties

Lao Party General Secretary and President Bounnang Vorachit concluded his official visit to Vietnam on Thursday.

During the visit, the Lao leader held talks with Party leader Nguyen Phu Trong, met President Tran Dai Quang, Prime Minister Nguyen Xuan Phuc and National Assembly Chairwoman Nguyen Thi Kim Ngan, and visited a number of economic, historical, and cultural relics in Hanoi and Nghe An province, and Military Zone 4.

To mark the occasion, the two countries released the Vietnam-Lao Joint Statement affirming their determination to work closely to realize agreements signed by their Party and State leaders. They agreed to deepen the political relationship to guide bilateral cooperation, maintain exchanges, and improve cooperation between the two Parties and States.

They agreed to boost bilateral cooperation in economics, trade, education, training, health care, science and technology, as well as facilitate Vietnamese and Lao people in country of residence to work and live in line with local law and international practices.

Vietnam and Laos agreed to strengthen cooperation in national defense and security considering the main pillar in bilateral ties. The two sides also agreed to share information, work closely, and support each other at regional and global forums, particularly at the UN, ASEAN, and Mekong Sub-region.

They emphasized the importance of maintaining peace and stability in the East Sea, settling disputes by peaceful means in line with international law including the 1982 UN Convention on the Law of the Sea, fully and effectively implementing the Declaration on the Conduct of Parties in the East Sea, and soon finalizing the Code of Conduct in the East Sea, in order to maintain security, safety, cooperation and development in both the region and the wider world.

Source: VOV5

Lao Party, State leader visits Nghe An province

General Secretary of the Lao People’s Revolutionary Party (LPRP) and President of Laos Bounnhang Vorachith said Laos is committed to continuing to promote the solidarity, friendship, and comprehensive cooperation.

During his visit to Nghe An province on Wednesday, the Lao top leader met with Nguyen Dac Vinh, Secretary of the provincial Party Committee, who said Nghe An pays special heed to developing the relationship with Lao localities. Vinh noted that Nghe An and Lao provinces organize delegation exchanges annually to share experience and enhance cooperation.

On Wednesday night, the provincial leaders hosted a banquet for the Lao Party chief and President and his entourage.

Source: VOV5

Egyptian firms updated on Vietnam’s investment policy

A workshop themed Egypt’s business opportunities in Vietnam was held on Wednesday by the Embassy of Vietnam in Cairo and the Egyptian Business Association.

The event informed enterprises about Vietnam’s business climate, trade policies, and principal exports. Vietnamese Ambassador to Egypt Do Hoang Long said: “We came up with valuable initiatives to boost trade deals signed by Vietnam and Egypt. 3 major aspects were under the spotlight. First, we need to exchange timely information between enterprises. Second, we need to find the resoruces to implement the deals. Third, media plays an important role in promoting the images of both countries, particularly their businesses.”

Trade between Vietnam and Egypt totalled 350 million USD this year, 10% more than 2016. It is expected to reach 1 billion USD since both countries have significant untapped potentials and advantages.

Source: VOV5

IMF cuts forecast for British economy

The International Monetary Fund (IMF) lowered its forecast for UK growth this year from 1.7% in October to 1.6%, and said it expects the economy to grow by 1.5% next year.

Britain’s weaker growth this year is an effect of its departure from the EU, IMF managing director Christine Lagarde said on Wednesday. She said British growth will recover if the UK and the EU reach agreements to minimize trade tariffs and other trade barriers.

EU Brexit chief negotiator Michel Barnier said the post-Brexit transition should not last beyond the end of 2020.

Source: VOV5

Le Luong Minh to conclude ASEAN Secretary General tenure

A ceremony took place at the ASEAN Secretariat offices on Tuesday to bid farewell to outgoing Secretary General Le Luong Minh.

ASEAN’s Deputy Secretary General Mochtan said Minh fulfilled his duty during a significant development period for ASEAN as it built a community and expanded regional connectivity. He said Minh contributed to ASEAN’s growth with his experience and competency.

Minh said ASEAN has made significant progress over the past 5 years, forming ASEAN Community and the ASEAN Vision 2015, which will ensure a sustainable and long-lasting ASEAN. He said he believes ASEAN will consolidate its role in the region and the world, develop properly, and bring benefits to all people in the ASEAN community.

Minh will conclude his tenure as ASEAN Secretary General on December 31.

Source: VOV5