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CNOVA N.V. First Quarter 2023 Activity



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First quarter 2023 activity

In a still challenging market where Cnova accelerated its shift towards marketplace, GMV stands at 15% like-for-like1, improving compared to Q4 (-16%). April current trading2 shows significant improvements compared to 1Q23: Marketplace back to growth at +5% (+9pts vs. 1Q23 y-o-y evolution) and Product GMV standing at -10% (+10pts vs. 1Q23 y-o-y evolution).

In this context, Cnova accelerated the pace of the transformation towards a profitable model with Gross Margin increasing by +6pts vs. 1Q22:

  • GMV & Marketplace share: all-time highest marketplace share in Q1 at 57% (+9pts vs. 22, +21pts vs. 19)
  • Rationalization of direct sales assortment with improving profitability and cash profile, supporting the overall Gross Margin increase
  • Marketplace revenues at €45m (+2% vs. 22, +29% vs. 19), with an increase in GMV take rate standing at 16.6% (+0.9pt vs. 22, +1.6pt vs. 19)
  • Advertising services revenues reaching €17m (+9% vs. 22, x2.1 vs. 19), with an increase in GMV take rate standing at 3.5% for Q1 (+0.9pt vs. 22, +2.2pts vs. 19)
  • Record B2C Services GMV1 at €36m (+37% vs. 22, x2.6 vs. 19) driven by Travel (+38% vs. 22, x2.2 vs. 19) and Mobile activities (+36% vs. 22, x7.2 vs. 19)
  • Octopia B2B revenues reaching €5m (+42% vs. 22) with the successful launches of 2 marketplaces (Bébéboutik and an international retailer) and outperformed revenues on Fulfilment-as-a-Service, with an increase in shipped parcels (+38% vs. 22)
  • C-Logistics B2B revenues at €2m (x6 vs. 22), with its third party-logistic solution successfully launched for a European sportswear company

Q1 monthly performance and current trading confirming the acceleration of profitable growth drivers with sequential improvement of growth in Q1 and April current trading:

  • Product GMV: -23% in Jan., -20% in Feb., -16% in March, -10% in April to date2
  • Marketplace GMV: -9% in Jan., -5% in Feb., -2% in March, +5% in April to date2

Efficiency plan to swiftly recalibrate SG&A & CAPEX level by end 2023 is on track to reach the July 2022 guidance of +75m savings on a full-year basis by the end of the year, leading to significant and continuous improvement of profitability and operational cash in the 1st quarter.

Over Q1, the Transformation Plan has been reinforced with a dedicated steering team and specific projects aiming at accelerating the pace of the plan with a 15m additional savings objective on a full-year basis, despite inflation headwinds.

Continuous development of Cnova’s ESG policy:

  • “More sustainable products” SKUs: 15.2% of Cdiscount’s Product GMV (+3.8pts vs. 22)
    • C-Logistics greenhouse gas emissions: -19.2% on the 22 vs. 21 reporting period
    • Gender parity: increase in Cnova’s gender equality index by +0.2pts vs. 21


AMSTERDAM – April 26, 2023, 18:00 CET Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova”) today announced its first quarter 2023 activity.

 Thomas Métivier, Cnova’s CEO, commented:

“In the 1st quarter of 2023, Cnova has accelerated the pace of its transformation, on all its strategic pillars: marketplace, advertising services and B2B development with the commercial success of Octopia and C-Logistic’s solutions.

The relevance of Cnova’s platform model is confirmed by an all-time high marketplace share and record high quarter for marketplace revenues, advertising services and B2B, thanks to the strength of the technological platform, the efficiency of our artificial intelligence algorithms and our network of 15,000 sellers and suppliers.

All those actions, combined with the efficiency plan and strong efforts to improve direct sales margins, have already delivered significant impact on profitability and free cash flow.

The transformation continues to accelerate with improving trends since the beginning of April.”

First Quarter 2023 Key Figures 

Financial performance
(€ millions, GMV figures incl. VAT)






  Change vs. 22
    Reported L-f-L3
Total GMV   712.4 909.2   (21.6)%


Ecommerce platform   692.6 883.0   (21.6)% (14.7)%
o/w Direct sales   251.6 372.8   (32.5)%
o/w Marketplace   328.9 341.5   (3.7)%
Marketplace share     56.7% 47.8%   +8.9pts
o/w B2C Services   36.2 73.2   (50.5)% +37.2%
o/w Other Revenues   75.8 95.5   (20.6)% +5.8%
B2B activities   19.8 26.1   (24.2)%
o/w Octopia B2B revenues   5.4 3.8   +42.4%
o/w Octopia Retail & Others   12.5 21.9   (42.9)%
o/w C-Logistics   2.0 0.4   x5.5
Total Net sales   323.5 446.6   (27.6)%                 (24.2)%

First Quarter 2023 Highlights 

GMV 1Q23
Total like-for-like2 growth -15.0%
Marketplace growth -3.7%
Travel growth +37.6%
Octopia B2B revenue growth +42.4%

GMV posted a -15.0% like-for-like decrease in the 1st quarter 2023, confirming Cnova’s strategic choice to accelerate its platform revenues with the development of its marketplace, advertising services and B2B businesses with Octopia and C-Logistics. This year-on-year change was driven by:

  • Direct Sales contributing -13.3pts (-32.5% y-o-y), as a result of the on-going voluntary strategic shift to marketplace, mostly for low contribution margin non-technical goods, but preserving and still benefiting from strengthened relationships with top international brands
  • Marketplace contributing -1.4pt (-3.7% y-o-y) while delivering +9pts in GMV share. Cnova raised quality standards through better delivery services with 50.3% free express delivery share in the 1st quarter
  • B2C Services contributing +1.1pt (+37.2% y-o-y), among which Travel alone brought +0.9pt to Cnova growth (+37.6% y-o-y)
    • Octopia B2B revenues contributing positively to growth (+42% y-o-y) driven by Merchant-as-a-Service and Marketplace-as-a-Service revenue growth (x2 vs. 22), with the successful launches of 2 marketplaces (Bébéboutik and an international retailer) and accelerating Fulfilment-as-a-Service revenues with an increase in shipped parcels (+38% vs. 22)
    • Octopia retail GMV contributed negatively for -1.0pt (-43% y-o-y) with Products-as-a-Service offer now focused on profitability as part of the transformation plan to drive profitable retail growth
Marketplace 1Q23 Change vs. 1Q22
Marketplace product GMV share 56.7% +8.9pts
Marketplace Fulfilment + Express sellers GMV share 50.3% +0.2pt
Marketplace revenues €45.5m +1.9%
Advertising services Product GMV take rate4 3.5% +0.9pt

Marketplace posting a 29pts y-o-y growth differential against first party sales, decreasing overall by -3.7%. Strong and regular customer satisfaction measured by the NPS at 55 (+11pts vs. 19 and steady vs. 22) led to a fast-increasing marketplace GMV share this quarter up to 56.7% (+8.9pts vs. last year). As part of this strategy, Fulfilment by Cdiscount and Express seller program continued to be very dynamic representing 50.3% of marketplace GMV in the 1st quarter 2023, an increase of 0.2pt vs. last year.

Clients 1Q23
Active clients over the last 12 months 8.1
CDAV GMV share 38.5%

The loyalty program Cdiscount à Volonté (CDAV) represented 38.5% of total GMV in the 1st quarter 2023. 

Net Sales 1Q23
Total like-for-like2 growth -24.2%


Net Sales5 amounted to €323m (-24.2% like-for-like decrease vs. 22). This decrease is primarily driven by the voluntary mix improvement towards marketplace especially for non-technical goods categories with negative contribution margin.

Business Highlights

A record high marketplace GMV share with accelerated positive trends compared to pre-pandemic level:

  • Marketplace reached all-time highest marketplace share in Q1 at 57% for the 1st quarter 2023 (+9pts vs. 22, +21pts vs. 19), mainly driven by home categories and new strategic partnerships, confirming the mix evolution towards more marketplace revenues. During the 1st quarter 2023, marketplace GMV was nearly stable (-4% vs. 22), in a context of strong inflation headwinds and macro-economic uncertainties
  • New marketplace strategic partnerships were formed, including with a childcare specialist and a leading company specialized in consumer goods
  • A new dedicated team of 20 collaborators was assembled to accelerate the recruitment and sales of the new Top sellers of the French, European and other international markets

Cnova continues the rationalization of its direct sales assortment with improving profitability and cash profile, supporting the overall Gross Margin increase.

This resilient performance for both direct sales and marketplace has been supported by disruptive offers launched this quarter, such as the new payment installment solution provided by Floa Bank for Apple products (including the possibility to trade an old device), and a strong and increasing customer satisfaction measured by the NPS at 55 (+11pts vs. 19, steady vs. 22).

Expansion of marketplace SKUs eligible to express delivery is a key driver of growth and customer satisfaction. It is also determinant to support the product mix re-orientation towards the marketplace:

  • Cdiscount Express Seller, launched in 2019 for sellers able to offer express delivery to CDAV customers, reached a 15.4% marketplace GMV share for the 1st quarter 2023 (+4.1pts vs. 22)
  • Fulfilment by Cdiscount marketplace GMV share stands at 34.9% for the 1st quarter 2023. A consequent effort is made to provide always more quality by recruiting top sellers with now a wider assortment than traditional retail sales

B2C Services showed a record performance:

  • B2C Services GMV, excluding Energy, amounted to €36m in the 1st quarter 2023, reaching again a solid growth (+37% vs. 22, x2.6 vs. 19)
  • Cdiscount Voyages (travel) experienced a significant acceleration with a GMV growth of +38% vs. 22 (x2.2 vs. 19)
  • Cdiscount Mobile (cell phone plan) activity performed very well during the 1st quarter 2023 with a GMV growth of +36% vs. 22 (x7.2 vs. 19) and a strong increase in the subscriber base

 Dynamic Advertising Services driven by Retail Media dynamics:

  • Advertising services revenues reached €17m for Q1 (+9% vs. 22), with growing GMV take rate standing at 3.5% (+0.9pt vs. 22)
    • Advertising services growth is mainly supported by Retail Media, which accounts for €13m of revenues for Q1 (+19% vs. 22) and allows both sellers and suppliers to reinforce their visibility and increase their sales
    • Growth is also driven by a dynamic offer expansion, with the creation of new formats, such as the launch of “premium” shops for sellers (12 signed sellers)

Octopia’s B2B revenues know a strong commercial dynamic, driven by its turnkey marketplace solution for EMEA retailers and e-merchants:

  • Successful launches of 2 marketplaces (Bébéboutik and an international retailer)
  • Outperformed revenues on Fulfilment-as-a-Service, with an increase in shipped parcels (+38% vs. 22) and the development of the activity in Spain
  • Acceleration of the selling volume on its sales channels (x21 GMV y-o-y) and acceleration of the number of sellers deployed
  • Successful launch of the drop-shipping offer for sellers, with 38 active sellers at end of the quarter on Products-as-a-Service

C-Logistics is developing its B2B activities through the successful launch of its third party-logistic solution for a European sportswear company, a service quality above customers’ expectations and knows a strong ramp-up with an increase in the number of shipped parcels for external clients (x3 vs. 22), representing an increase of 2.2pts in C-Logistics total number of shipped parcels. New strategic transportation flows have been implemented, enabling products delivery in Europe, with Chronopost for Express Delivery and BPost for Standard Delivery.
C-Logistics is also optimizing its costs and adapting its structure with the rationalization of transportation offers and the increase in warehouses productivity.
C-Logistics ESG approach has been pursued with significant efforts to decrease its energy consumption (-21% vs. 22).

Environmental, social and societal stakes such as human capital, climate, business ethics and societal commitment are at the heart of Cnova’s B2B and B2C strategic development:

  • Cnova is committed to promoting a more responsible consumption through its direct sales and marketplace product offer. Actions carried out by Cdiscount and Octopia aiming to develop “more sustainable products” (e.g., increasing the visibility of these products and guaranteeing affordable prices) enable a continuous acceleration of this offer. “More sustainable products” account for 15.2% of Cdiscount’s Product GMV at 1Q (+3.8pts vs. 22)
  • Cnova is also taking action to reduce the impact of its operations:
    • Thanks to actions undertaken with carriers, greenhouse gas emissions related to delivery of products sold by Cdiscount and shipped by C-Logistics have decreased by -19.2% on the 22 vs. 21 reporting period
    • Cdiscount and C-Logistics have joined the study group dedicated to the writing of an AFNOR SPEC “Ecommerce: information to consumers on the environmental impact of their delivery choice”, aiming to define a reference framework for environmental display when the consumer chooses its delivery method on Cdiscount’s website
    • Cnova’s electricity and gas consumption has decreased by -25% in 22 vs. 19 (-15.9% vs. 21), overperforming objectives announced by Cnova in early Q4 as an answer to the national mobilization initiated by the government
  • As a trustworthy partner, Cnova is committed to protect its clients. Cdiscount, which had already signed the Product Safety Pledge in 2020, has recommitted to consumer protection and signed the new version of the Product Safety Pledge at the European Consumer Summit organized by the European Commission
  • Cnova pursues its social and societal commitment in favor of gender parity. Thanks to its Human Resources policy, Cnova’s consolidated gender equality index has increased by +0.2pt vs. 21


About Cnova N.V.

Cnova N.V., the French ecommerce leader, serves 8.1 million active customers via its state-of-the-art website, Cdiscount. Cnova N.V.’s product offering provides its B2C clients with a wide variety of very competitively priced goods, fast and customer-convenient delivery options, practical and innovative payment solutions as well as travel, entertainment and domestic energy services. Cnova N.V. also serves B2B clients internationally through Octopia (Marketplace-as-a-Service solutions), Cdiscount Advertising (advertising services for sellers and brands) and C-logistics (end-to-end logistic ecommerce solution). Cnova N.V. is part of Groupe Casino, a global diversified retailer. Cnova N.V.’s news releases are available at Information available on, or accessible through, the sites referenced above is not part of this press release.

This press release contains regulated information (gereglementeerde informatie) within the meaning of the Dutch Financial Supervision Act (Wet op het financieel toezicht) which must be made publicly available pursuant to Dutch and French law. This press release is intended for information purposes only.


1 Like-for-like figures exclude cross-canal sales and Cdiscount Energy GMV for 1Q22; 2 as of April 25th, 2023
2 2022 figures have been restated to take into account CChezVous disposal (discontinued operations)
3 Like-for-like figures exclude cross-canal sales and Cdiscount Energy GMV for Q122
4 Calculated as advertising services revenues divided by total product GMV excluding VAT (Marketplace GMV excl. VAT + Direct sales GMV excl. VAT)
5 Like-for-like figures exclude cross-canal sales and Cdiscount Energy GMV for Q122


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Artificial Intelligence

More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024




Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.

The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
 “Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit:
The full list of Special Award ISEF 2024 Finalists can be found at
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here:
View all the finalists’ research here:
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech,, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases. 
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit:
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
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Artificial Intelligence

J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit




In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.

In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation. 
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.” 
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.

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Artificial Intelligence

Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024




SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.

Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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