Artificial Intelligence
AcuityAds Reports Third Quarter 2022 Financial Results
illumin Revenue Up 78.4% YOY and 29.4% sequentially
Generated $29.0 million in Total Revenue
(All monetary figures are expressed in Canadian dollars unless otherwise stated)
TORONTO and NEW YORK, Nov. 10, 2022 (GLOBE NEWSWIRE) — AcuityAds Holdings Inc. (TSX:AT) (NASDAQ:ATY) (“AcuityAds” or “Company”), a Journey Advertising technology company that empowers marketers to make smarter decisions about communicating with online consumers, today announced its financial results for the three and nine months ended September 30, 2022.
Third Quarter 2022 Highlights
- Total revenue for the three months ended September 30, 2022, was $29.0 million, up 2.5% sequentially and 5.5% on a year over year basis as we began to realize the benefits of our recent investments in sales, marketing, and product development. Despite significant macro-economic headwinds, we believe we will see continued benefits from these investments over the ensuing quarters.
- illumin third quarter revenue rose 78.4% year over year and 29.4% sequentially to $13.2 million, or 46% of total revenue. On a YTD basis, illumin revenue is $31.3 million.
- illumin self-serve revenue increased 20% sequentially to $1.2 million, while illumin self-serve clients grew 42% sequentially. The significant increase in illumin self-serve clients should bode well for continued growth in this very strategic segment of the business.
- Third quarter 2022 gross margin was 51.4%, compared to 51.9% for the same period in 2021.
- Net revenue or gross profit (revenue less media costs) for the three months ended September 30, 2022, was $14.8 million, compared to $14.3 million for the same period in 2021.
- Adjusted EBITDA was $1.6 million for the third quarter of 2022, compared to $4.4 million in the prior year. The decline of Adjusted EBITDA was fully anticipated, as management made the strategic decision to increase our investments in R&D, sales and marketing given the early success of illumin.
- Q3 2022 net income was $2.8 million, compared to $3.4 million in Q3 2021.
- During the third quarter of 2022, the Company repurchased 1,811,400 of its common shares at an average price of $3.23 per share for total consideration of $5,859,678. As of November 5, 2022, the Company has repurchased 4,080,880 of its common shares (7.1% of shares outstanding) for total consideration of $12,999,975.
- At September 30, 2022, the Company had cash and cash equivalents of $88.2 million, compared to $102.2 million as of December 31, 2021, reflecting share repurchases during the previous quarters.
- During the quarter, two significant hires were made. Nadeem Ahmed joined Acuity as Chief Revenue Officer, bringing with him over 25 years of revenue-building experience, including 10 years at Salesforce building their Healthcare and Life Sciences vertical. Tony Vlismas joins as VP of Marketing, having spent most of his career leading and scaling ad-tech companies in senior marketing roles.
“We continued to see excellent traction for illumin during the third quarter, with year over year revenue growth from this Journey Advertising platform of 78.4% and strong sequential revenue growth of 29.4%,” said Tal Hayek, Co-Founder and Chief Executive Officer of AcuityAds. “Now standing at 46% of total company revenue, we believe illumin is well on its way to eclipsing our stated goal of comprising over half of total company revenue run rate by year end. The continued rapid growth in illumin adoption is further proof that it is breaking the mold with its incredible simplicity and deep advertiser insights.”
Mr. Hayek continued, “When I evaluate where we are as a company, I know we are creating something revolutionary given the overwhelming positive feedback we are receiving from our clients about illumin. We are constantly monitoring internal customer data and it’s clear both new and existing clients are recognizing the value of this intuitive Journey Advertising platform, which enables them to differentiate themselves and take control of their own advertising journeys. Our results tell the story, with 81% more clients using the platform year over year for the third quarter, while illumin self-serve revenue rose 20% from just the second quarter.”
Elliot Muchnik, AcuityAds’ Chief Financial Officer, commented, “While management remains attuned to the challenging macro-economic environment, we are seeing solid customer demand as customers appreciate the importance of brand strength and we continue to anticipate year-over-year revenue growth in the fourth quarter of 2022. We firmly believe that the investments we made in R&D, sales and marketing coming into and during this fiscal year has positioned the Company well for future growth. Should the macro-economic forces be more serious than we anticipated on our business, management will take the appropriate actions to reduce spend and optimize our cost structure.”
The following table presents a reconciliation of net income (loss) to Adjusted EBITDA for the periods ended:
Three months ended | Nine months ended | |||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||
2022 | 2021 | 2022 | 2021 | |||||||||
Net income (loss) for the period | $ | 2,802,622 | $ | 3,362,127 | $ | (776,989 | ) | $ | 8,087,580 | |||
Adjustments: | ||||||||||||
Finance costs | 158,453 | 263,220 | 429,557 | 797,074 | ||||||||
Foreign exchange gain | (5,835,813 | ) | (1,864,926 | ) | (7,228,072 | ) | (2,599,487 | ) | ||||
Depreciation and amortization | 1,124,790 | 1,172,334 | 3,527,168 | 3,816,994 | ||||||||
Income taxes | 1,378,607 | – | 1,432,242 | 231,600 | ||||||||
Share-based compensation | 1,893,845 | 1,465,706 | 5,447,830 | 3,954,217 | ||||||||
Severance expenses | 115,832 | 20,875 | 398,263 | 111,633 | ||||||||
Other expenses | – | – | 79,132 | – | ||||||||
Total adjustments | (1,164,286 | ) | 1,057,209 | 4,086,120 | 6,312,031 | |||||||
Adjusted EBITDA | $ | 1,638,336 | $ | 4,419,336 | $ | 3,309,131 | $ | 14,399,611 |
Conference Call Details:
Date: Thursday, November 10, 2022
Time: 8:30AM Eastern Time
To register for the conference call webcast and presentation, please visit
https://illumin.com/investors/earnings-call/
Please connect at 15 minutes prior to the conference call to ensure time for any software download that may be needed to hear the webcast.
A recording of the conference call webcast will be available after the call by visiting the Company’s website at https://illumin.com/investors/.
Non-IFRS Measures
This press release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We use non-IFRS measures including “revenue less media costs”, “revenue less media costs margin”, “Adjusted EBITDA” and “Adjusted Net Income (Loss)” (as well as other measures discussed elsewhere in this press release).
The term “revenue less media costs margin” refers to the amount that “revenue less media costs” represents as a percentage of total revenue for a given period, while the term “revenue less media costs” refers to the net amount of revenue after deducting direct media costs. Revenue less media costs is used for internal management purposes as an indicator of the performance of the Company’s solution in balancing the goals of delivering excellent results to advertisers while meeting the Company’s margin objectives and, accordingly the Company believes it is useful supplemental information.
“Adjusted EBITDA” refers to net income (loss) after adjusting for finance costs, impairment loss, fair value gain, income taxes, foreign exchange gain (loss), depreciation and amortization, share-based compensation, acquisition and related integration costs, severance expenses and adjustments to the carrying value of investment tax credits receivable. The Company believes that Adjusted EBITDA is useful supplemental information as it provides an indication of the results generated by the Company’s main business activities before taking into consideration how those activities are financed and taxed and also prior to taking into consideration depreciation of property and equipment and certain other items listed above. It is a key measure used by the Company’s management and board of directors to understand and evaluate the Company’s operating performance, to prepare annual budgets and to help develop operating plans.
“Adjusted Net Income (Loss)” refers to net income (loss) after adjusting for non-cash items such as impairment loss, fair value gain, depreciation and amortization, share-based compensation, and foreign exchange gain/loss. The Company believes that Adjusted Net Income (Loss) is useful supplemental information as it provides an indication of the results generated by the Company’s main business activities on a cash basis. It is another key measure used by the Company’s management and board of directors to understand and evaluate the Company’s operating performance, to prepare annual budgets and to help develop operating plans.
These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. We believe that securities analysts, investors, and other interested parties frequently use non-IFRS measures in the evaluation of issuers, and that these non-IFRS measures in particular are relevant to their analysis of the Company.
Unaudited Interim Financial Statements
This press release contains our unaudited condensed interim consolidated statements of financial position, of income (loss) and cash flows for the three and nine months ended September 30, 2022. These statements should be read in conjunction with our unaudited interim financial statements which contain certain explanatory notes, and our accompanying management discussion and analysis for the three and nine months ended September 30, 2022, in each case as filed on sedar.com
About AcuityAds:
AcuityAds is a leading technology company that provides marketers a one-stop solution for omnichannel digital advertising with best-of-category return on advertising spend. Its journey automation technology, illumin™, offers planning, buying and real-time intelligence from one platform. With proprietary Artificial Intelligence, illumin™ brings unique digital advertising capabilities to close the gap between planning and execution. The Company brings an integrated ecosystem of privacy-protected data, inventory, brand safety and fraud prevention partners, offering trusted solutions with proven, above-benchmark outcomes for the most demanding marketers.
AcuityAds is headquartered in Toronto with offices throughout Canada, the U.S., Europe and Latin America. For more information, visit https://illumin.com.
Disclaimer in regards to Forward-looking statements
Certain statements included herein constitute “forward-looking statements” within the meaning of applicable securities laws. These statements may relate to the Company’s future financial outlook, financial position, anticipated events, results, success of its work from home policies, the Company’s strategy with respect to the illumin platform, or the effect of the COVID-19 pandemic on the Company’s business and operations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Also, given the evolving circumstances surrounding the COVID-19 pandemic, it is difficult to predict how significant the adverse impact of the pandemic will be on the global and domestic economy, the business, operations and financial position of the Company’s clients and the business, operations, and financial position of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Many factors could cause the Company’s actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the “Risk Factors” section of the Company’s Annual Information Form dated March 10, 20221 for the fiscal year ended December 31, 2021 (the “AIF”) and the Company’s Management Discussion and Analysis for the three months ended September 30, 2022 dated November 10, 2022 (the “MD&A”). A copy of the AIF, MD&A and the Company’s other publicly filed documents can be accessed under the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com. In addition, the effects of COVID-19, including the duration, spread and severity of the pandemic, create additional risks and uncertainties for the Company. In particular, the impact of the virus and government authorities’ and public health officials’ responses thereto may affect: the Company’s actual results, performance, prospects, or opportunities; domestic and global credit and capital markets and its ability to access capital on favourable terms, or at all; and the health and safety of its employees. The Company cautions that the list of risk factors and uncertainties described in the AIF and the MD&A are not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties, and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information.
Except as required by law, AcuityAds does not intend, and undertakes no obligation, to update any forward-looking statement to reflect, in particular, new information or future events.
For further information, please contact:
Daniel Gordon Investor Relations Manager AcuityAds Holdings Inc. 416-218-9888 ext. 5313 [email protected] |
Babak Pedram Investor Relations – Canada Virtus Advisory Group Inc. 416-644-5081 [email protected] |
David Hanover Investor Relations – U.S. KCSA Strategic Communications 212-896-1220 [email protected] |
AcuityAds Holdings Inc.
Condensed Interim Consolidated Statements of Financial Position
(Expressed in Canadian dollars)
(Unaudited)
September 30, 2022 $ |
December 31, 2021 $ |
|||
Assets | ||||
Current assets | ||||
Cash and cash equivalents | 88,231,834 | 102,208,807 | ||
Accounts receivable | 28,448,325 | 30,972,608 | ||
Prepaid expenses and other | 3,172,384 | 3,278,624 | ||
119,852,543 | 136,460,039 | |||
Non-current assets | ||||
Deferred tax asset | 81,803 | 81,803 | ||
Other assets | 360,836 | – | ||
Property and equipment | 6,950,092 | 5,369,619 | ||
Intangible assets | 4,557,717 | 3,044,278 | ||
Goodwill | 4,869,841 | 4,869,841 | ||
136,672,832 | 149,825,580 | |||
Liabilities | ||||
Current liabilities | ||||
Accounts payable and accrued liabilities | 20,204,928 | 24,853,497 | ||
Income tax payable | 558,690 | 910,165 | ||
Borrowings | 4,800,272 | 2,946,150 | ||
Lease obligations | 1,866,511 | 2,058,161 | ||
27,430,401 | 30,767,973 | |||
Non-current liabilities | ||||
Borrowings | 214,590 | 3,852,891 | ||
Lease obligations | 4,362,910 | 2,148,708 | ||
32,007,901 | 36,769,572 | |||
Shareholders’ equity | 104,664,931 | 113,056,008 | ||
136,672,832 | 149,825,580 | |||
AcuityAds Holdings Inc.
Condensed Interim Consolidated Statements of Comprehensive Income (Loss)
(Expressed in Canadian dollars)
(Unaudited)
Three months ended September 30, 2022 $ |
Three months ended September 30, 2021 $ |
Nine months ended September 30, 2022 $ |
Nine months ended September 30, 2021 $ |
|||||
Revenue | ||||||||
Managed services | 20,424,781 | 19,320,662 | 54,337,640 | 65,197,665 | ||||
Self-service | 8,522,515 | 8,164,158 | 26,690,889 | 20,026,969 | ||||
28,947,296 | 27,484,820 | 81,028,529 | 85,224,634 | |||||
Media costs | 14,102,830 | 13,232,069 | 39,601,460 | 40,798,761 | ||||
Gross profit | 14,844,466 | 14,252,751 | 41,427,069 | 44,425,873 | ||||
Operating expenses | ||||||||
Sales and marketing | 5,904,181 | 5,260,944 | 16,745,908 | 14,982,171 | ||||
Technology | 4,243,954 | 2,581,090 | 11,764,959 | 9,716,514 | ||||
General and administrative | 3,173,827 | 2,012,256 | 10,084,466 | 5,439,210 | ||||
Share-based compensation | 1,893,845 | 1,465,706 | 5,447,830 | 3,954,217 | ||||
Depreciation and amortization | 1,124,790 | 1,172,334 | 3,527,168 | 3,816,994 | ||||
16,340,597 | 12,492,330 | 47,570,331 | 37,909,106 | |||||
Income (loss) from operations | (1,496,131 | ) | 1,760,421 | (6,143,262 | ) | 6,516,767 | ||
Finance costs | 158,453 | 263,220 | 429,557 | 797,074 | ||||
Foreign exchange gain | (5,835,813 | ) | (1,864,926 | ) | (7,228,072 | ) | (2,599,487 | ) |
(5,677,360 | ) | (1,601,706 | ) | (6,798,515 | ) | (1,802,413 | ) | |
Net income before income taxes | 4,181,229 | 3,362,127 | 655,253 | 8,319,180 | ||||
Income taxes | 1,378,607 | – | 1,432,242 | 231,600 | ||||
Net income (loss) for the period | 2,802,622 | 3,362,127 | (776,989 | ) | 8,087,580 | |||
Basic net income (loss) per share | 0.05 | 0.06 | (0.01 | ) | 0.14 | |||
Diluted net income (loss) per share | 0.05 | 0.05 | (0.01 | ) | 0.14 | |||
Exchange (gain) loss on translating foreign operations | (224,097 | ) | (331,401 | ) | 10,238 | 671,363 | ||
Comprehensive income (loss) for the period | 3,026,719 | 3,693,528 | (787,227 | ) | 7,416,217 |
AcuityAds Holdings Inc.
Condensed Interim Consolidated Statements of Cash Flows
(Expressed in Canadian dollars)
(Unaudited)
For the nine months ended September 30, 2022, and 2021
2022 $ |
2021 $ |
|||||
Cash provided by (used in) | ||||||
Operating activities | ||||||
Net income (loss) for the period | (776,989 | ) | 8,087,580 | |||
Adjustments to reconcile net income (loss) to net cash flows | ||||||
Depreciation and amortization | 3,527,168 | 3,816,994 | ||||
Finance costs | 429,557 | 797,074 | ||||
Share-based compensation | 5,447,830 | 3,954,217 | ||||
Foreign exchange gain | (7,228,072 | ) | (2,599,487 | ) | ||
Change in non-cash operating working capital | ||||||
Accounts receivable | 2,637,300 | 7,333,843 | ||||
Prepaid expenses and other | 106,237 | (1,209,249 | ) | |||
Other assets | (360,836 | ) | – | |||
Accounts payable and accrued liabilities | (4,296,278 | ) | (3,390,866 | ) | ||
Income tax payable | (351,475 | ) | – | |||
Interest paid, net | (328,332 | ) | (695,976 | ) | ||
(1,193,890 | ) | 16,094,130 | ||||
Investing activities | ||||||
Additions to property and equipment | (161,646 | ) | (779,828 | ) | ||
Additions to intangible assets | (2,650,031 | ) | (964,636 | ) | ||
(2,811,677 | ) | (1,744,464 | ) | |||
Financing activities | ||||||
Repayment of term loans principal | (1,679,881 | ) | (1,818,053 | ) | ||
Proceeds from international loans | 1,135,985 | 852,486 | ||||
Repayment of international loans | (1,406,950 | ) | (1,410,960 | ) | ||
Addition to leases | – | 358,644 | ||||
Repayment of leases | (1,535,249 | ) | (2,345,510 | ) | ||
Net proceeds from equity financing | – | 63,955,491 | ||||
Repurchase of shares for cancellation | (12,999,975 | ) | – | |||
Proceeds from the exercise of warrants | – | 61,723 | ||||
Proceeds from the exercise of stock options | 374,037 | 1,056,189 | ||||
(16,112,033 | ) | 60,710,010 | ||||
Increase (decrease) in cash and cash equivalents | (20,117,600 | ) | 75,059,676 | |||
Impact of foreign exchange on cash and cash equivalents | 6,140,627 | 2,599,487 | ||||
Cash and cash equivalents – beginning of period | 102,208,807 | 22,638,300 | ||||
Cash and cash equivalents – end of period | 88,231,834 | 100,297,463 | ||||
Supplemental disclosure of non-cash transactions | ||||||
Additions to property and equipment under leases | 3,809,403 | 447,869 | ||||
Artificial Intelligence
Ancoris Recognised as Top Place to Work for Second Year Running by The Sunday Times
Ancoris recognised for fostering a sense of empowerment and respect within the workplace91% of Ancoris employees feel empowered at work93% of employees say that are treated with respectLONDON, May 21, 2024 /PRNewswire/ — Ancoris, a UK-based Google Cloud services provider, has been named a Top Medium Business in The Sunday Times 2024 Best Places to Work list. The accolade has been awarded for the second year in a row, and recognises Ancoris’ focus on DEI; its commitment to empowerment, reward, and recognition; and its wellbeing policies and frameworks.
“I am so pleased to see Ancoris recognised, once again, as a top place to work!” says Andre Azevedo, Ancoris CEO. “Ancoris is a place where we try our best to foster collaboration, empowerment, innovation, and respect – so to have our employees echo this and respond in the way they have is amazing.”
The Sunday Times survey captured Ancoris employees’ responses in a number of categories: Reward and Recognition, Information Sharing, Empowerment, Wellbeing, Instilling Pride, and Job Satisfaction. The independently managed survey showed Ancoris scoring “excellent” across all six engagement categories, with top scores in Empowerment, Wellbeing, Reward & Recognition. In response, 93% of employees say they are treated with respect; 92% feel trusted and able to make decisions; and 91% of employees feel empowered at work.
“We’ve seen a lot of change over the last 12 months. The rise of Generative AI has caused shifts in our market and economic conditions are causing customers to really qualify where they make technology investments. These pivots undoubtedly have an impact on our employees and how people feel at work,” Azevedo continues. “I truly believe, however, the innovative work we are doing for our customers has helped us maintain and create an even stronger sense of collaboration and pride for our team members. We’re lucky to have so many smart people within our business, so continuing to give them interesting, challenging, and rewarding problems to solve for our customers is really key.”
About AncorisAncoris is a leading Google Cloud Services Provider, headquartered in the UK, on a mission to become the most innovative Google Cloud partner in the ecosystem. Ancoris leverages its strong problem solving skills and continuous improvement approach to help customers become AI Native and stay ahead of their competition. Ancoris has extensive experience in Google Cloud technologies helping enterprises integrate AI-native solutions into their business through expertise in Data & AI, Application and Infrastructure Modernisation, Workspace, and Maps. Ancoris was recognized as a Rising Star for Data, Analytics, and Machine Learning in the ISG Provider™ Lens for Google Cloud Partner Ecosystem in 2022 and 2023 consecutively, and awarded Google Cloud’s 2024 EMEA Public Sector Partner of the Year award. Ancoris employs the best in the business and was named in the Top 10 Sunday Times Best Places to Work 2023, and a Top Place to Work in 2024.
Contact: Holly [email protected]
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Artificial Intelligence
Department of Health – Abu Dhabi Partners with Roche Pharmaceuticals Middle East to Elevate Research, Clinical Trials, and Real-World Data
ABU DHABI, UAE, May 21, 2024 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, signed a Memorandum of Understanding (MoU) with Roche Pharmaceuticals Middle East during Abu Dhabi Global Healthcare Week (ADGHW). Under the MoU, the two entities will advance critical research using real-world data to study and assess the spinal muscular atrophy burden in Abu Dhabi, as well as assessing potential conduction of research and the facilitation of real-world data collection to monitor Duchenne Muscular Dystrophy (DMD) disease.
In the presence of Dr. Rashed Alsuwaidi, the Executive Director of the Healthcare Workforce Planning Sector at DoH and Michael Oberreiter, Head of Global Access at Roche Pharmaceuticals, the MoU was signed by Dr. Asma Al Mannaei, the Executive Director of the Research and Innovation Centre at DoH and Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE.
Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Center at the at DoH said: “Abu Dhabi has a track record of excellence and fast-growing, future-forward, data-enabled services. Serving as a hub for healthcare data, Abu Dhabi’s substantial computing power enables it to harness the potential within this data, transforming it into valuable information. This, in turn, allows us to innovate and develop novel approaches to shift healthcare towards prediction, prevention, and treatment, thereby accelerating the future of healthcare, not only for Abu Dhabi but for the global community. Through international collaborations, Abu Dhabi seeks to lead research groups supported by global partners to explore the resilience and sustainability of the healthcare sector worldwide as well as expand access to quality care for patients around the world.”
The two entities will work together to support the evolution of real-world data collection frameworks in Abu Dhabi. Enhancing DoH’s ability to track and monitor outcomes of therapies will support DoH in making informed clinical and policy decisions for better optimisation of patient outcomes. Furthermore, DoH and Roche will strengthen the research network across Abu Dhabi and improve accrual for potential clinical trials.
Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE said: “This MoU underscores our collaboration with the DoH which is fuelled by a shared vision of harnessing the power of data to drive informed decision-making within the healthcare system. Data-driven healthcare systems hold immense potential to revolutionise patient care and outcomes. Through the generation, utilisation, and realisation of data, healthcare professionals and policymakers can unlock valuable insights, identify trends, and make evidence-based decisions. This data-driven approach enables us to optimise resource allocation, personalise treatment approaches, and ultimately achieve better patient outcomes. By harnessing the full potential of data, we can improve the overall efficiency and effectiveness of the healthcare system, ensuring that every patient receives the highest quality of care tailored to their specific needs. We are sincerely grateful for the trust, confidence, and empowerment the DoH has placed in establishing this effective public-private partnership with Roche in the UAE.”
Held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, ADGHW is a major government initiative by the DoH, which took place from the 13th -15th May 2024.
For more information please visit: https://www.adghw.com/
About Department of Health – Abu Dhabi (DoH):
The DoH is the regulatory body of the healthcare sector at the Emirate of Abu Dhabi and ensures excellence in healthcare by monitoring the health status of the population. DoH defines the strategy for the health system, monitors and analyses the health status of the population and performance of the system. In addition, DoH shapes the regulatory framework for the health system, inspects against regulations, enforce standards, and encourages adoption of world-class best practices and performance targets by all healthcare service providers in the Emirate. DoH also drives programmes to increase awareness and adoption of healthy living standards among the residents of the Emirate of Abu Dhabi in addition to regulating scope of services, premiums and reimbursement rates of the health system.
For further information on DoH, visit https://www.doh.gov.ae/ and follow on X, Instagram, Facebook, LinkedIn and YouTube.
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Artificial Intelligence
Biopharma Leaders Shape the Future of Drug Development at Veeva R&D and Quality Summit Europe
Ascendis, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva to keynote sharing innovations to drive better patient outcomes
BARCELONA, Spain, May 21, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced that leaders from Ascendis Pharma A/S, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva will be keynote speakers at Veeva R&D and Quality Summit, Europe, June 4-5 in Madrid, Spain. Life sciences professionals across the industry will come together to share how connected technologies across clinical, regulatory, safety, and quality are advancing innovations for patients.
As one of the largest gatherings of biopharma leaders in Europe, Veeva R&D and Quality Summit will bring together over 1,000 industry professionals to share learnings across more than 100 sessions. Bayer and Jazz Pharmaceuticals will join Rik Van Mol, senior vice president of Veeva Development Cloud, and Avril England, general manager of Veeva Vault, for the opening keynote to explore the future of development for new medicines and therapies.
The event’s zone keynotes include:
Ascendis and Bayer, sharing strategies to reduce costs and accelerate trials with a connected platform.Boehringer Ingelheim, detailing its shift toward data-centric regulatory information management.Novo Nordisk, showing how it uses data and AI to transform clinical research.Sanofi, explaining its innovative approach to advance quality through operational excellence.Teva, providing insight into its rapid journey from disparate safety systems into one streamlined global solution.A panel with Elpida Therapeutics CEO Terry Pirovolakis and Veeva experts will close the event with a discussion on how the industry can best accelerate the development of life-saving rare disease gene therapies.
“Connecting clinical, regulatory, safety, and quality is key to advancing the product lifecycle and delivering better outcomes for patients,” says Rik Van Mol, senior vice president of Veeva Development Cloud. “At Veeva R&D and Quality Summit, biopharma leaders can connect, exchange ideas, and share new strategies to advance the industry forward together.”
Veeva R&D and Quality Summit is open exclusively to life sciences professionals. Register and review the agenda at veeva.com/eu/Summit.
Additional InformationConnect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-K for the fiscal year ended January 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Jeremy WhittakerVeeva [email protected]
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