Lille (France), Cambridge (Massachusetts, United States), July 7, 2020 – GENFIT (Nasdaq and Euronext: GNFT), a late-stage biopharmaceutical company dedicated to improving the lives of patients with metabolic and liver diseases, today announced, following its annual Shareholders Meeting, the appointment of Ms. Katherine Kalin and Mr. Eric Baclet to the company’s Board of Directors. Together, they bring more than 50 years of combined pharmaceutical experience and deep subject matter expertise that will aid in the next phase of Genfit’s growth.Pascal Prigent, CEO of GENFIT, noted: “We are delighted to announce the appointments of Katherine and Eric to the board. Both bring a wealth of highly relevant life science industry experience. Ms. Kalin has extensive strategic and financial management experience in both pharmaceutical and diagnostic solutions, with a deep understanding of the U.S. market. Mr. Baclet has a broad experience covering therapeutic drug development, as well as commercial management in several markets, including China. Both will bring strong knowledge bases and strategic insights as the company works to determine the next corporate steps that will shape its transformation.”Ms. Kalin’s healthcare industry expertise spans diagnostics, medical devices, and pharmaceuticals. Ms. Kalin is currently a director on the boards of Clinical Genomics, a molecular diagnostic firm, Brown Advisory, a strategic advisory and investment firm, and Primari Analytics, a startup in artificial intelligence. From 2012-17, Ms. Kalin led corporate strategy at Celgene, a global biopharmaceutical company, for 5 1/2 years. Prior to that, Ms. Kalin held executive leadership roles in marketing, sales, strategy and new business development at Johnson & Johnson (J&J) from 2002 to 2011. Prior to J&J, Ms. Kalin served as a Partner at McKinsey and Company, a global management consulting firm, where she negotiated and led consulting assignments, as a strategic advisor to pharmaceutical, medical device and other healthcare companies.Mr. Eric Baclet has over 30 years of experience with Eli Lilly in international drug development, management, and commercialization, all expertise he gained as President and General Manager of Lilly Italia, General Manager of Lilly China, VP of Global Marketing, and Executive Directorship of International Marketing, to name a few. Throughout his tenure at Eli Lilly, Mr. Baclet spearheaded international drug launches across multiple geographies, and led multi-disciplinary teams involved in biopharmaceutical value-chain management in more than seven countries.Jean-François Mouney, Chairman of the Board, added: “The Board is thrilled to welcome Katherine and Eric. We look forward to working with Pascal and the GENFIT team to help the company build value and succeed in its development programs in therapeutic areas with high unmet medical need.” ABOUT GENFITGENFIT is a late-stage biopharmaceutical company dedicated to the discovery and development of innovative therapeutic and diagnostic solutions in metabolic and liver related diseases where there are considerable unmet medical needs, corresponding to a lack of approved treatments. GENFIT is a pioneer in the field of nuclear receptor-based drug discovery, with a rich history and strong scientific heritage spanning more than two decades. Its drug candidate, elafibranor, is currently being evaluated in a pivotal Phase 3 clinical trial (“RESOLVE-IT”) as a potential treatment for NASH and GENFIT plans to initiate a Phase 3 clinical trial of elafibranor in patients with PBC. As part of GENFIT’s comprehensive approach to clinical management of patients with NASH, the Company is also developing a new, non-invasive blood-based diagnostic technology, NIS4™, which, if approved, could enable easier identification of patients with at-risk NASH. With facilities in Lille and Paris, France, and Cambridge, MA, USA, the Company has approximately 200 employees. GENFIT is a publicly traded company listed on the Nasdaq Global Select Market and on compartment B of Euronext’s regulated market in Paris (Nasdaq and Euronext: GNFT). www.genfit.com
FORWARD LOOKING STATEMENTSThis press release contains certain forward-looking statements, including those within the meaning of the Private Securities Litigation Reform Act of 1995, with respect to GENFIT, including statements about the Company’s next development and transformation steps, its potential to create value, and new Directors’ contribution to value creation. The use of certain words, including “believe,” “potential,” “expect” and “will” and similar expressions, is intended to identify forward-looking statements. Although the Company believes its expectations are based on the current expectations and reasonable assumptions of the Company’s management, these forward-looking statements are subject to numerous known and unknown risks and uncertainties, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including related to safety, biomarkers, progression of, and results from, its ongoing and planned clinical trials, review and approvals by regulatory authorities of its drug and diagnostic candidates and the Company’s continued ability to raise capital to fund its development, as well as those risks and uncertainties discussed or identified in the Company’s public filings with the French Autorité des marchés financiers (“AMF”), including those listed in Section 2.1 “Main Risks and Uncertainties” of the Company’s 2019 Universal Registration Document filed with the AMF on May 27, 2020 under n° D.20-0503, which is available on GENFIT’s website (www.genfit.com) and on the website of the AMF (www.amf-france.org) and public filings and reports filed with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s 20-F dated May 27, 2020. In addition, even if the Company’s results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. These forward-looking statements speak only as of the date of publication of this document. Other than as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise.CONTACTGENFIT | InvestorsNaomi EICHENBAUM – Investor Relations | Tel: +1 (617) 714 5252 | firstname.lastname@example.org
PRESS RELATIONS | MediaHélène LAVIN – Press relations | Tel: +333 2016 4000 | email@example.com
AttachmentGENFIT: Enhances Board of Directors with Two Strategic Appointments
Flavor Enhancers Market To Reach USD 11.5 Billion By 2027 | Reports and Data
New York, Aug. 12, 2020 (GLOBE NEWSWIRE) — According to the analysis of Reports and Data, the Global Flavor Enhancers Market was valued at USD 6.6 billion in 2019 and is expected to reach USD 11.5 billion by the year 2027, growing at a CAGR of around 6.5%. According to the Food and Drug Administration (FDA), flavor enhancers are the substances that have no pronounced flavor or taste of their own but which bring out and improve the flavors in the foods to which they are added. The term flavor potentiator has also been used with the same meaning. The most commonly used substances in this category are monosodium L-glutamate (MSG), disodium 5′-inosinate (IMP), and disodium 5′-guanylate (GMP).
The growth of the segment is driven by the expansion of the global beverage industry, an increase in demand for convenience food, changing consumer lifestyle, and an increase in the number of sensory-oriented consumers worldwide. The global flavor enhancers market is expected to witness an upsurge owing to the introduction of new food products with natural ingredients and coloring pigments. Furthermore, technological advancements, growing demand for clean label products, and stringent regulations on synthetic enhancers are influencing manufacturers to incorporate more natural flavors in their offerings. Increasing the use of natural flavor enhancers by the food processing industry is a key factor driving the flavor enhancers market’s growth.
However, factors such as mounting raw material prices and high entry barriers and price pressure on manufacturers due to consolidation affect the industry’s growth. Major trends prevailing in the market are consolidation in the industry, demand for substitutes for artificial flavor enhancers, the emergence of biotech flavor enhancers, and sensory trend.
The global flavor enhancers market is segregated based on type glutamates, acidulants, hydrolyzed vegetable protein, yeast extracts, and others (sweetness enhancers and nucleotides). Based on form, the global flavor enhancers market is segmented in Powder and Liquid & Semi-Liquid. Based on source, the market is segmented into natural and synthetic. Based on application, the market is bifurcated into processed & convenience foods, meat & fish products, beverages, and others (confectionery products, bakery, dairy, and condiments).
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Further key findings from the report suggest
- By type, the glutamates segment was valued at USD 1.36 billion in 2019. Asia is the largest producer of glutamates, including MSG, accounting for approximately 93% of the global MSG production capacity. Greater demand, an economic and abundant workforce, and its use in processed foods are the prime reasons behind its significant production in Asia. Indonesia, China, Taiwan, Thailand, and Malaysia are the major glutamate manufacturers. China is one of the top manufacturers (66%), the consumer (51%), and exporter (49%) of MSG worldwide. Indonesia is the second-largest (15%) exporter of glutamates. The FDA reported that the Middle East and Africa consumed 4%, Europe 3%, North America 2%, and central and South America 2% MSG.
- Among the application segments, processed & convenience foods occupied a significant share of about 38.3% in the flavor enhancers market. Flavor enhancers like lactic acid find extensive application in the processed & convenience food industry as it benefits from regulating microflora in the food and acting as preservatives. It is formed by the natural fermentation process in food products such as pickled vegetables, cheese, and soy sauce.
- Among the source segments, the natural segment leis growing at a rapid CAGR of 6.8%. The snowballing health awareness among the population and the rising demand for organic foods and upsurge in the buying power of the population fosters the market growth. Offering unique and tastier flavor enhancers would principally boost the demand in the global natural food flavor enhancers market.
- By form, the liquid segment is projected to grow at the fastest CAGR 6.5% during the analysis period. Factors such as minimized ingredient loss, high consistency and uniformity, specification-oriented superior quality production, and excellent microbiological safety drive the market.
- North America occupied a share market share of about 33.5% in 2019 in the flavor enhancers market. Established key market players and continued investments from manufacturers are likely to drive market growth in North America during the forecast period.
- The key players in the market include Tate & Lyle PLC, Cargill, Corbion N.V., Associated British Foods plc, Sensient Technologies, ADM, Novozymes A/S, E.I. Dupont, Angel Yeast Co., Ltd, Innova Flavors, Savoury Systems International, Inc., Senomyx, Inc and Ajinomoto Co, Inc.
- In November 2019, Archer Daniels Midland Co. acquired Florida Chemical Company., which is specialized in citrus-based fragrances and flavors. Florida Chemical Co., a subsidiary of Flotek Industries based in Winter Haven. It offers citrus flavor materials and essential oils as well as flavor enhancers for grapefruit and other citruses.
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For the purpose of this report, Reports and Data has segmented the Global Flavor Enhancers Market on the basis of type, application, source, form, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Hydrolyzed vegetable protein
- yeast extracts
- Others (sweetness enhancers and nucleotides)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Processed & convenience foods
- Meat & fish products
- Confectionery products
Source Outlook (Revenue, USD Billion; 2017-2027)
Form Outlook (Revenue, USD Billion; 2017-2027)
- Liquid & semi-liquid
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/flavor-enhancers-market
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
Take a Look at our Related Reports:
Isoflavones Market: https://www.reportsanddata.com/report-detail/isoflavones-market
Krill Oil Market: https://www.reportsanddata.com/report-detail/krill-oil-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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Scipher Medicine and Galapagos sign collaboration in inflammatory bowel disease
— Companies to jointly validate novel drug targets —
— Scipher eligible for upfront, opt-in and milestone payments —
— Galapagos to progress selected targets into drug discovery —
Mechelen, Belgium and Boston, USA; 12 August 2020 – Galapagos NV (Euronext & Nasdaq: GLPG) and Scipher Medicine (Scipher), a Boston based privately held precision medicine company focused on autoimmune diseases, today announce a collaboration to advance novel drug targets identified by Scipher for the treatment of inflammatory bowel disease (IBD).
Scipher combines its proprietary Network Medicine Platform with molecular patient data and AI-based methods to identify novel targets and pathways in autoimmune diseases, including IBD.
Scipher and Galapagos will jointly validate a suite of novel IBD targets discovered by Scipher after which Galapagos has the exclusive option to progress up to five targets into further drug discovery and development. Under the terms of the agreement, Scipher is eligible to receive upfront, opt-in and milestone payments and Galapagos will retain the rights for the discovery, development and commercialization of therapeutics for the selected target(s).
“Our breakthrough approach combines extensive patient-level molecular data with AI methods to discover novel targets with the potential to treat specific groups of patients, including those not responding to therapies currently available,” said Alif Saleh, Chief Executive Officer of Scipher Medicine. “This partnership with Galapagos is a recognition of our innovative approach to discover and validate novel targets that could offer a solution for IBD patients.”
“The collaboration with Scipher is aligned with our strategy to discover and develop novel modes of action medicines with the potential to disrupt current treatment paradigms to address high unmet needs in inflammatory diseases,” said Piet Wigerinck, Chief Scientific Officer of Galapagos. “We believe that our drug discovery and development expertise alongside Scipher’s platform will support us in the discovery of exciting new drug candidates.”
About Scipher Medicine
Scipher Medicine, a precision immunology company, holds the fundamental belief that patients deserve simple answers to treatment options based on scientifically backed data. Leveraging our proprietary Network Medicine platform and artificial intelligence, we commercialize blood tests identifying a patient’s unique molecular disease signature and match such signature to most effective therapy ensuring patients receive optimal treatment from day one. The unprecedented amount of patient molecular data generated from our tests further drives development of novel and more effective therapeutics. We partner with payers, providers and pharma along the health care value chain to bring precision medicine to autoimmune diseases.
Galapagos NV discovers and develops small molecule medicines with novel modes of action, three of which show promising patient results and are currently in late-stage development in multiple diseases. Our pipeline comprises discovery through Phase 3 programs in inflammation, fibrosis, osteoarthritis and other indications. Our ambition is to become a leading global biopharmaceutical company focused on the discovery, development and commercialization of innovative medicines. More information at www.glpg.com.
Galapagos Forward-Looking Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks, uncertainties and other factors that could cause actual results to diﬀer materially from those referred to in the forward-looking statements and, therefore, the reader should not place undue reliance on them. These risks, uncertainties and other factors include, without limitation, the inherent uncertainties associated with target discovery and validation and drug discovery and development activities (including that data from the ongoing discovery activities may not support the validation of any novel IBD targets or the development of any IBD drug candidates with novel modes of action), expectations regarding the collaboration with Scipher, that Galapagos may decide not to exercise any option granted to it under the agreement with Scipher, and that Galapagos’ expectations regarding the further development of any potential future in-licensed program, including its potential to address a large unmet need in inflammatory diseases, may be incorrect, as well as those risks and uncertainties identified in our Annual Report on Form 20-F for the year ended December 31, 2019 and our subsequent filings with the SEC. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The forward-looking statements contained herein are based on management’s current expectations and beliefs and speak only as of the date hereof, and Galapagos makes no commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations.
VP Investor Relations
+1 781 460 1784
Sofie Van Gijsel
Senior Director Investor Relations
+32 485 19 14 15
Head of Internal & External Communications & Public Affairs
+32 473 824 874
Senior Director Communications – Therapeutic Areas
+44 7717 801900
Media contacts Scipher Medicine:
OMNIQ Corp. to Host Second Quarter Earnings Call on Friday, August 14, 2020 at 11:00 AM ET
SALT LAKE CITY, Aug. 12, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, will host a conference call and webcast on Friday, August 14, 2020 at 11:00 a.m. Eastern Time to discuss financial results for the second quarter ended June 30, 2020.
To access the live webcast, please click on this webcast link to register, or go to the Company’s website at www.questsolution.com, and click on the About tab, then Investors.
To participate in the call by phone, dial (877) 407-9210 approximately five minutes prior to the scheduled start time. International callers please dial (201) 689-8049.
A replay of the teleconference will be available until September 13, 2020 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 36627.
About OMNIQ Corp.
OMNIQ Corp. (OTCQB: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments. OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad. The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023.
Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.
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