Andersen Advances Global Valuation Practice in 10 Asia Pacific Countries

  (BUSINESS WIRE) -- Andersen, the fastest-growing independent, multidisciplinary professional services firm in the world, continues to broaden its global valuation practice and deepen its ties in Asia Pacific through the addition of collaborating firms in Australia, China, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. Following the firm’s expansion in Europe, Latin America, and Africa earlier this year, Andersen now has valuation capabilities in more than 50 countries worldwide.

Andersen’s global valuation team works with companies, funds, high-net-worth individuals, and family offices to provide valuations of businesses, tangible and intangible assets, and complex securities for tax, financial reporting, and transaction advisory purposes. Andersen clients span a range of industries with diverse valuation needs around the globe.

“We’ve been strategically adding valuation groups in the past year and the Asia Pacific region presents incredible opportunities for growth and innovation,” said Mark L. Vorsatz, global chairman and CEO of Andersen. “These new firm additions are testament to our continued commitment to providing clients with access to integrated, seamless solutions on an unmatched global platform.”

• Australis Asset Advisory Group (Australia) – Australis Asset Advisory Group works closely with large Australian businesses and governments to deliver comprehensive services in financial reporting, strategic asset management, strategic valuation advisory, and insurance valuation.
• AVISTA Group (China) – AVISTA Group, a professional advisory firm in China, works with clients across a range of industries to deliver services in valuation advisory, risk management, ESG, corporate advisory, and property advisory.
• KJPP FAST & Partners (Indonesia) – KJPP FAST & Partners provides comprehensive property and business valuation services across all sectors, specializing in M&A, joint ventures, insurance, finance, collateral, sale and purchase, taxation, and stock exchange listings.
• Irhamy Valuers International (Malaysia) – Founded in 1999, Irhamy Valuers International delivers customized valuation services, including business and intangible asset appraisals, for domestic and international clients needing assistance with mergers and acquisitions, tax compliance, financial reporting, bankruptcy, litigation and dispute resolution, and strategic planning.
• Aviso Valuation & Advisory (Philippines) – Aviso Valuation & Advisory is one of the leading real estate and business advisory firms in the Philippines, specializing in valuation and advisory services for diverse industries including real estate, manufacturing, tourism, transportation, and infrastructure.
• Lim and Young (Singapore) – Lim & Young Appraisal is a Singapore based valuation firm providing valuation services for financial reporting, fund NAV reporting, transactions, and Singapore court proceedings.
• Forest Accounting Corporation (South Korea) – Forest Accounting Corporation works closely with clients across a variety of sectors, including media and telecommunications, technology, entertainment, manufacturing, consumer and e-commerce, healthcare, and financial services.
• Diwan Financial Advisory Services (Taiwan) – Based in Taipei, Diwan Financial Advisory Services delivers customized solutions including mergers and acquisitions, business advisory, financial and tax due diligence, fundraising, and valuation services.
• 15 Business Advisory (Thailand) – Operating in Thailand and internationally, 15 Business Advisory has provided a suite of financial advisory services, including asset appraisal, business valuation, and real estate advisory, to domestic and international clients for over 20 years.
• VietTin Valuation (Vietnam) – VietTin Valuation offers comprehensive valuation services, including asset valuation, business appraisal, and investment analysis, tailored to meet diverse client needs in various sectors.

“As valuation needs continue to become more complex, the addition of these groups brings further depth and breadth to our global practice,” said Sid Luckenbach, managing director of Andersen’s global valuation practice. “Our valuation professionals share a passion for stewardship and leverage market insights to deliver integrated solutions to clients.”

Andersen Global is an international association of legally separate, independent member firms comprised of tax, legal, and valuation professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has more than 18,000 professionals worldwide and a presence in over 500 locations through its member firms and collaborating firms.

 

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Megan Tsuei

Andersen Global

415-764-2700

Monsha’at : Biban24 stimule la croissance et le développement des PMEs régionales avec des accords historiques d'une valeur de plus de 35 milliards de SAR lancés lors de l'exposition

 RIYADH, Saudi Arabia - mercredi, 13. novembre 2024

(GLOBE NEWSWIRE) -- Biban24, le forum phare de l’Arabie saoudite pour les start-ups et les PMEs, a ouvert la voie à l’essor de l’entrepreneuriat en Arabie saoudite, en réunissant des entrepreneurs, des entreprises et des investisseurs de premier plan et en herbe du monde entier pour lancer une série d’accords remarquables d’une valeur de plus de 9 milliards de dollars.

Organisé par Monsha’at, l’Autorité générale des petites et moyennes entreprises du Royaume d’Arabie saoudite, Biban24 — qui s’est déroulé du 5 au 9 novembre au Riyadh Front Exhibition & Conference Centre — a attiré un nombre impressionnant de 182 000 visiteurs et a relevé la barre pour le travail en partenariat avec les PMEs, créant un environnement constructif pour les investisseurs et les entrepreneurs afin de lancer des partenariats et des entreprises efficaces.

Le cinquième et dernier jour de la réunion a réuni des entités de premier plan pour signer une sélection variée d'accords novateurs, de protocoles d'accord (MoU) et de partenariats exclusifs visant à faire progresser l'entrepreneuriat régional et mondial.

Le cinquième jour de l'événement, Tameed a notamment lancé un portefeuille de financement d'une valeur de 2,6 milliards de SAR. Interactive Smart Communications a également introduit un portefeuille de financement d'une valeur de 1 milliard de SAR, tandis que Mudarabah a annoncé un portefeuille de 1 milliard de SAR. En outre, Saudi Aramco a annoncé des cycles d'investissement de WAED Ventures d'une valeur de 18 millions de SAR.

Biban24 a également accueilli les derniers tours de la Coupe du monde de l'entrepreneuriat (EWC). 100 finalistes, représentant 52 pays, ont participé à la finale du concours annuel de Pitch de startups, offrant aux concurrents la possibilité de gagner 1 million de dollars en prix cash et de bénéficier du réseautage et de l'accès à des opportunités d'investissement.

Au cours des années précédentes, l’EWC a présenté plusieurs catégories de récompenses, notamment le « Stade de Croissance » (Growth Stage), « Stade Précoce » (Early Stage), « Étape Idée » (Idea Stage) et « Priorité d’Innovation » (Innovation Priority), toutes visant à soutenir et à habiliter les entrepreneurs du monde entier à développer leurs projets, à perfectionner leurs compétences et à s'engager dans un réseau mondial de mentors et de conseillers.

L'édition 2025 du concours a mis l'accent sur une nouvelle catégorie stratégique consacrée aux technologies spatiales, englobant plusieurs sous-domaines tels que l’exploitation minière, la santé et les sports, l'agriculture et la gestion des ressources. Cette catégorie s'ajoute aux catégories générales, avec des prix cash spécifiquement pour les technologies spatiales totalisant 200 000 $, en plus de la somme globale de 800 000 $.

Lors de la dernière journée de Biban24, Nomiq a été annoncé comme le vainqueur de l’« Étape Idée » (Idea Stage), Yumari a été classé premier dans la catégorie « Stade Précoce » (Early Stage), tandis que MisMar a été nommé comme le vainqueur de la « Stade de Croissance » (Growth Stage).

VitruvianMD s'est révélé être le gagnant de la catégorie santé. EnergyX s'est classé premier dans la catégorie énergie, et Salutes Space a été récompensé avec les plus grands honneurs dans la catégorie « Economies of the Future ». Marine Innovation a été désignée gagnante de la catégorie durabilité du concours.

https://bibanglobal.sa/

Contacts :

Tarek Chahine

tchahine@webershandwick.com

Monsha’at : 23 accords d’une valeur de plus de 580 millions de SAR signés le troisième jour de Biban 2024

 

RIYAD, Arabie Saoudite, 11 nov. 2024 (GLOBE NEWSWIRE) -- Lors de la troisième journée du forum Biban24, organisé par l'Autorité générale des petites et moyennes entreprises (Monsha'at) sous le thème « Une destination mondiale pour les opportunités », plus de 23 accords ont été signés, ainsi que plusieurs lancements de projets évalués à plus de 580 millions de SAR. Biban 2024, qui s’est déroulé au Riyadh Front Exhibition & Conference Centre, vise à stimuler la croissance et le développement de l'écosystème entrepreneurial saoudien, en favorisant la collaboration entre les entrepreneurs locaux et internationaux.

Soulignant son engagement en faveur de la promotion de l'entrepreneuriat dans le secteur touristique saoudien, le Fonds de développement du tourisme (TDF) a annoncé la signature, à Biban24, de plusieurs accords historiques avec diverses institutions financières, notamment Arab National Bank, Raedah Finance, Tawkeel Finance, Murabaha Marena, Al Jabr Finance, Taseer Arabia et Manafea Finance.

Conformément à la Vision 2030, ces accords sont entièrement axés sur le renforcement des petites et moyennes entreprises dans le secteur du tourisme et sur le soutien de projets qui contribuent au développement du tourisme local.

Réaffirmant son engagement à donner de l’énergie à l’avenir du secteur des PME du Royaume, Monsha’at a également signé un accord stratégique avec Microsoft Saudi Arabia pour doter les entrepreneurs des outils leur permettant de réaliser leur potentiel en leur fournissant un meilleur accès à des conseils techniques et technologiques essentiels, ainsi qu’à des services cloud par le biais de la plateforme Founder Hub.

Lors de l'événement, Microsoft Saudi Arabia a également annoncé un concours d'entrepreneuriat pour soutenir le secteur de l'entrepreneuriat et encourager la croissance des PME.

Le troisième jour de Biban 2024 a également vu Monsha’at s’associer à Oracle pour améliorer les programmes d’incubation et d’accélération dans le Royaume et au-delà. Le partenariat tirera parti des ressources de Monsha’at et d’Oracle pour offrir des services infonuagiques, des outils d’analyse de données et des solutions d’IA destinées à soutenir les startups et les PME.

Cela comprend l’annonce du partenariat de Monsha’at avec Zoom pour offrir des solutions de réunion virtuelle complètes et à prix réduit. Google a également annoncé officiellement un accord stratégique avec Monsha’at pour le lancement de l’initiative Digital Marketing Enablement.

Les derniers tours de la Coupe du monde de l'entrepreneuriat ont également pris de l’ampleur, avec plus de 100 finalistes participant aux finales du concours annuel de pitch de startups.

https://bibanglobal.sa/

Contact:
Tarek Chahine
tchahine@webershandwick.com

Copyright © 2024 GlobeNewswire, Inc.

Thales Expands CipherTrust Data Security Platform as-a-Service Offerings

MEUDON, France - Tuesday, 19. November 2024 AETOSWire


    CipherTrust Transparent Encryption helps organisations meet compliance mandates and protect data wherever it resides
    New Cloud Service includes Live Data Transformation for non-disruptive encryption and Ransomware Protection to monitor continuously for abnormal activity

 

(BUSINESS WIRE) -- Thales, the leading global technology and security provider, today announces the availability of CipherTrust Transparent Encryption (CTE) through the CipherTrust Data Security Platform as-a-service. CTE is designed to provide transparent, high-performance encryption for complex environments without the need to modify applications or underlying infrastructure. In continuing to expand its cloud service offerings, Thales remains committed to providing customers with a choice in how they consume data security services to help achieve compliance and protect sensitive data wherever it resides.

CipherTrust Transparent Encryption helps customers meet compliance and best practice requirements for protecting data wherever it resides—across multiple clouds, on-premises, and container environments. Additionally, it offers,

    Live Data Transformation is a unique Thales patented zero downtime encryption deployment feature that encrypts and re-keys data without taking applications offline. It delivers the ultimate promise of transparency by not requiring any modification of the application or infrastructure.

    Ransomware Protection by continuously monitoring processes for abnormal I/O activity and alerting or blocking malicious activity before ransomware can take hold of your endpoints and servers.

The availability of CipherTrust Transparent Encryption via the CipherTrust Data Security Platform as-a-Service follows the launch of CipherTrust Cloud Key Management (CCKM) as-a-Service, which allows enterprises to secure, manage and control their encryption keys centrally across multiple public cloud and SaaS environments.

As more enterprises move applications and workloads to a wide range of cloud platforms, they face increased management complexity and a higher risk of threats and data breaches. On average, organizations use 84 SaaS applications. In addition, according to the 2024 Thales Cloud Security Study, more than half of IT professionals consider managing privacy and data protection regulations in multi-cloud/hybrid) environments more complex than on-premises.

With this new offering, Thales extends its existing SaaS-based key management service to help enterprises extend data encryption, protection, and access policies beyond on-premises solutions.

“With this new CipherTrust Data Security Platform capability, Thales offers customers an option to deploy and consume data security services in a variety of different ways to effectively future proof their data across multiple systems and environments. Organisations can enjoy seamless updates free of disruption, scale to meet business demands, close the skills gap for security expertise, and deploy data security more quickly and cost-effectively without the need to invest in additional hardware and software,” said Todd Moore, Vice President of Data Security products at Thales.

CipherTrust Data Security Platform as-a-Service makes it easy for IT security teams to consume, deploy, and manage encryption and key management while lowering the cost of ownership, reducing deployment time, and helping enterprises address the growing shortage of skilled IT staff.

Customers can sign up for CipherTrust Data Security Platform as-a-Service offerings through the Thales Data Protection on Demand Marketplace, a cloud-based online marketplace that provides a range of data security services. Click here to learn more about CipherTrust Data Security Platform as-a-Service – or sign up for your free 30-day trial today.

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies specialized in three business domains: Defence & Security, Aeronautics & Space, and Cybersecurity & Digital identity.

It develops products and solutions that help make the world safer, greener and more inclusive.

The Group invests close to €4 billion a year in Research & Development, particularly in key innovation areas such as AI, cybersecurity, quantum technologies, cloud technologies and 6G.

Thales has close to 81,000 employees in 68 countries. In 2023, the Group generated sales of €18.4 billion.

PLEASE VISIT

Thales Group

Cloud Protection & Licensing Solutions | Thales Group

Cybersecurity Solutions | Thales Group

 

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Contacts

PRESS
Thales, Media Relations
Security & Cybersecurity
Marion Bonnet
+33 (0)6 60 38 48 92
marion.bonnet@thalesgroup.com

 

Monsha’at: Le deuxième jour de Biban 2024 relève la barre pour l’entrepreneuriat saoudien avec le lancement d’accords d’une valeur de plus de 1,35 milliard de riyals saoudiens

 

RIYAD, Arabie Saoudite – jeudi, 7 novembre 2024 (GLOBE NEWSWIRE) -- Vingt accords d'une valeur de plus de 1,35 milliard de riyals saoudiens ont été signés le deuxième jour du forum Biban24. Conformément à la Vision 2030, ces partenariats et accords ont été lancés pour donner les moyens d’agir à la communauté florissante d’entrepreneurs saoudiens et faire progresser l’entrepreneuriat dans le Royaume et au-delà.

Le deuxième jour du rassemblement immersif de Biban a attiré l’attention sur la croissance de l’Arabie saoudite en tant que centre d’investissement mondial, avec l’annonce par la Banque de développement social (SBD) de plusieurs accords clés avec des entités locales et régionales de premier plan ; un point fort supplémentaire d’une autre journée riche en événements du forum.

La SDB a signé des accords de partenariat et des accords stratégiques avec des organismes et organisations de premier plan tels que le ministère de l'Industrie, le ministère de la Santé et la banque Albilad. La SDB travaillera en étroite collaboration avec ces entités pour autonomiser et financer les entrepreneurs des secteurs industriel, sanitaire et technologique. La banque collaborera également avec chaque partenaire pour fournir un accès aux services de paiement électronique afin d'assurer la viabilité financière des associations et de soutenir les indépendants.

L'innovation n'a jamais été aussi essentielle pour surmonter l'ensemble unique de défis auxquels les PME et les entrepreneurs du monde entier sont confrontés. Pour libérer le potentiel des start-up prometteuses, de la région et de l’écosystème mondial des PME dans son ensemble, il est essentiel de favoriser un environnement propice qui donne aux investisseurs, aux entreprises et aux entrepreneurs les moyens d’innover et de faire œuvre de pionnier en matière d’entreprises, de partenariats et d’accords. Biban24 est entièrement orienté vers ce but, en fournissant des étapes significatives vers un succès durable.

Biban24, le forum phare des start-ups et des PME, est le plus grand événement du genre dans le Royaume, tenu du 5 au 9 novembre 2024 au Riyadh Front Exhibition & Conference Center.

Organisée par Monsha’at, l’Autorité générale des petites et moyennes entreprises du Royaume d’Arabie saoudite, la rencontre de cette année aura pour thème « Destination mondiale pour les opportunités ».

https://bibanglobal.sa/  

Contact:
Tarek Chahine
tchahine@webershandwick.com

Visa Flexible Credential Goes Global: Transforming the Card for a Digital Future

 SAN FRANCISCO & LISBON, Portugal - Tuesday, 12. November 2024

First in the U.S., Visa Flexible Credential will roll out with the Affirm Card, a debit card that allows eligible consumers to easily buy now and pay later right from the Affirm app

UAE-based Liv, the first digital bank in MENA to debut Visa Flexible Credential, allows frequent travelers access to multiple currency accounts from one card, making cross-border payments simpler than ever

New flexible payments experiences debuted at Web Summit in Lisbon

 

(BUSINESS WIRE) -- For years, the card didn’t change. Built for an analog world, one card for one type, debit or credit. The Visa Flexible Credential has fundamentally changed that, allowing people to pay from different account funding sources with a single card. Today, Visa (V: NYSE) announced that the Flexible Credential is expanding to the U.S. and will be rolling out with Affirm, and in the United Arab Emirates with Liv, giving millions more people greater choice and control over how they pay.

“The Visa Flexible Credential all started with a simple idea that consumers should easily be able to choose how they want to pay,” said Jack Forestell, Chief Product and Strategy Officer, Visa. “Working with innovative partners like Affirm, Liv and SMCC helps us turn that idea into a reality. Together we’re enabling more ways to pay and adapting to the unique needs of consumers – wherever they are in the world, or in their financial journey.”

Giving people control over their financial future

Affirm is the first company to leverage Visa’s next-generation credential for its U.S. consumers with the Affirm Card.

“We’re excited about the partnership we’ve formed with Visa,” said Max Levchin, CEO of Affirm. “Since our founding, our mission has remained the same — build honest financial products that improve lives. Part of building better financial products also means giving consumers more control and flexibility, which has always been a key feature of the new Affirm Card. We look forward to bringing millions more people a product that seamlessly brings debit and credit together, without late or hidden fees.”

The Affirm Card offers consumers a product with the flexibility to pay now or pay over time. Affirm Card users can pay in full anywhere Visa is accepted or request to pay over time for their purchase in the Affirm app. The Affirm Card is currently used by over 1.4 million consumers in the U.S. and the company looks forward to getting it into the hands of more people.

Making cross-border payments simple

Liv, the UAE’s first and largest digital bank launched by Emirates NBD, is introducing a new way to flex, letting people access multiple currency accounts from a single card. Recent Visa data shows that cross-border outbound volumes from the UAE are one of the fastest growing among Visa’s largest cross-border countries. 1

The Flexible Credential will make regular spending in different currencies more transparent for consumers and will enable banks to accelerate the launch of a multi-currency proposition to their customers.

The Visa Flexible Credential works by automatically routing the transaction to the account with the appropriate transaction currency, whether someone is paying online or in-store. Using a mobile app, cardholders can easily move money between local and foreign currency accounts, making sure they have the funds to make a purchase.

The offering will be available to new and existing Liv customers and support five of the most popular currencies used, including: U.S. Dollar, British Pound, Euro, Canadian Dollar and Australian Dollar.

“At Liv we stay true to our promise of providing the most innovative products to our customers,” said Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking and Wealth Management, Emirates NBD. “As the UAE’s first digital bank, we are pleased to collaborate with Visa to offer our customers a simple, flexible card solution that better serves their evolving financial needs.”

Helping small businesses uncomplicate their finances

Since debuting the Olive card in Japan with Sumitomo Mitsui Card Company, Limited (SMCC) just over a year ago, there are over 3 million Olive account cardholders taking advantage of the Visa Flexible Credential. Since launch, 70% of Olive account holders are flexing between different account funding sources like debit, credit and prepaid, and credit is predominantly used for their purchases.2

Visa and SMCC have also introduced a new flexible feature designed specifically to help small businesses access credit and unlock cash flow. Now, small businesses can switch between business and personal accounts easily from the same Olive card.

Visa will continue to test the small business feature in Japan with SMCC and roll it out to other markets around the world.

The Flexible Credential gives consumers more choice and control over their finances. It also allows financial institutions – whether a bank or fintech – to establish deeper relationships and provide better solutions based on the individual needs of their customers.

Visa continues to work with its partners to bring the next generation of payments to more consumers around the world.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

The Affirm Card is a Visa® debit card issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa U.S.A. Inc. You must request and be approved to get the Card. Getting the Card does not guarantee the ability to pay over time. You must apply for pay-over-time plans for each purchase in the mobile app. Pay-over-time plans are subject to eligibility checks and are provided by affirm.com/lenders. For licenses and disclosures, see affirm.com/licenses.

1 Visa data for the twelve months ended September 30, 2024

2 VisaNet transaction data Mar 2023 – Sep 2024

 

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Contacts

Media Contact

Conor Febos, Visa

Press@Visa.com

 

Pharmanovia Signs Novel Biologic In-Licensing Agreement With Lindis Biotech to Commercialise Catumaxomab for Treatment of Rare Condition, Malignant Ascites

 BASILDON, England - Tuesday, 19. November 2024

Catumaxomab Received a Positive Opinion From the EMA’s Committee for Medicinal Products for Human Use (CHMP) at Its October 2024 Meeting and If Approved Catumaxomab Will Be the Only Approved Drug Treatment of Malignant Ascites

Pharmanovia Will Lead All Activities to Launch Catumaxomab

This Is Pharmanovia’s First Monoclonal Antibody and Signifies Our Continued Evolution Into Specialty Pharmaceuticals

 

(BUSINESS WIRE)--Pharmanovia, a global pharmaceutical company that commercialises novel medicines and revitalises, extends and expands the lifecycle of established medicines, has today announced the expansion of its oncology portfolio with a new licensing agreement for catumaxomab, for the treatment of malignant ascites.

The agreement gives Pharmanovia the exclusive rights to bring to market, catumaxomab, a first-in-class, trifunctional bi-specific monoclonal antibody, indicated for the intraperitoneal treatment of malignant ascites in adults with epithelial cellular adhesion molecule (EpCAM)-positive carcinomas, who are not eligible for further systemic anticancer therapy1. Malignant ascites is an abnormal accumulation of fluid in the peritoneal cavity that commonly arises from advanced-stage cancers.

Dr Stephen Deacon, Chief Scientific Officer explains: “What is exciting about catumaxomab is that it has a novel targeted approach. This bispecific (anti-EpCAM x anti-CD3) trifunctional antibody combines the characteristics of classical monoclonal antibodies and bispecific molecules2. It binds directly to the tumour cells expressing EpCAM and then enhances the activation of the patient’s own immune system resulting in the killing of tumour cells.”

Malignant ascites is a rare condition, most common in ovarian, pancreatic and gastric cancers, with an incidence of 20 to 50% of all cases.3

Pharmanovia CEO, Dr. James Burt commented; “Our mission is to bring innovative and improved medicines to patients who need them, and this deal is the epitome of this. We have a first-in-class medicine, that can play a critical role in cancer supportive care that has previously been approved but is no longer available. We’re looking to change that through this partnership with Lindis Biotech, reintroducing catumaxomab to the market, subject to full regulatory approval. We’re excited to put our strong capabilities in New Chemical Entities (NCEs) to bring this important medicine to patients.”

“We are excited to partner with Pharmanovia to support the commercialisation of catumaxomab in Europe. Both companies share a firm belief in the profound impact this therapy can have on the lives of patients facing this devastating condition and uphold a steadfast commitment to making catumaxomab available to as many people as possible,” said Dr. Horst Lindhofer, Chief Executive Officer of Lindis Biotech. “Pharmanovia’s supportive care focus, broad European platform and strong expertise in the oncology space make them the ideal partner for us. We look forward to working together while continuing to further expand our pipeline in other indications with high unmet medical need, such as bladder cancer.”

Prof. Carsten Bokemeyer, Director of the Department of Medical Oncology and Hematology at the University of Hamburg, UKE stated: “The clinical management of malignant ascites remains a distressing problem in the medical field. Unfortunately, to this day, no generally accepted, evidence-based treatment guidelines or specific management recommendations for MA exist and there has been little progress to ease the burden for patients and improve their quality of life. Thus, the availability of catumaxomab as a specific tumour-directed therapy is a clear benefit for patients in this difficult situation. Catumaxomab reduces the need for punctures, improves quality of life, and even seems to improve life expectancy in a number of cases.”

Catumaxomab received a positive opinion from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) at its October 2024 meeting with EU marketing authorization expected end of 2024. If approved, it would become the only drug approved for the specific and cancer-directed treatment of malignant ascites.

About Pharmanovia

Pharmanovia is a global lifecycle management healthcare company. Our purpose is to make medicines fit for tomorrow, to improve the lives of patients globally.

We do this by rediscovering, repurposing or re-engineering established medicines or by bringing to market novel medicines to improve patient outcomes and experiences.

With a diverse and growing team in over 160 countries across the globe, we deliver high-quality solutions, ethically and sustainably, across our four core therapeutic areas – Endocrinology, Neurology, Cardiovascular and Oncology both in rare and established diseases or conditions.

About Lindis Biotech

Lindis Biotech is a clinical stage bio-pharmaceutical company that is committed to the development of Triomab® antibodies – a new class of T-cell engaging bispecific trifunctional antibodies, empowering the immune system to turn malignant cancers into manageable and possibly curable diseases.

About CATUMAXOMAB

Catumaxomab was originally granted marketing authorisation under the brand name Removab in the EU on 20 April 2009 for treatment of malignant ascites in adults with EpCAM-positive carcinomas where standard therapy is not available or no longer feasible. catumaxomab was the first T cell engager trifunctional antibody and the first drug in the world approved specifically for the treatment of MA and has since proven its safety and anti-tumor efficacy in more than 2000 patients. The product has not been marketed since 2014 and on 2 June 2017 the product was withdrawn from the EU due to commercial reasons.

On 17th October Lindis Biotech GmbH received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) with the brand name KORJUNY®.

Catumaxomab effectively destroys cancer cells by attaching to two antigens: EpCAM and CD3 to form a bridge between the cancer cells and the T-cells. This brings the cells close together so that the T-cells can kill the cancer cells. Catumaxomab also attaches to and activates Fc-gamma receptor positive immune cells like e.g. monocytes and macrophages, which also helps the body’s immune system to not only attack and destroy cancer cells, but also potentially induce a vaccination effect4,5.

References

1https://www.ema.europa.eu/en/medicines/human/EPAR/korjuny

2 https://pmc.ncbi.nlm.nih.gov/articles/PMC2840231/

3Ref: BMJ, https://spcare.bmj.com/content/13/e3/e1292

4https://www.ema.europa.eu/en/documents/overview/removab-epar-summary-public_en.pdf

5Atanackovic et al., Human Vaccines & Immunotherapeutics 9:12, 1–10; 2013; https://pubmed.ncbi.nlm.nih.gov/23955093/

COR2024PR00400- November 2024.

 

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Contacts

Alison Dyson, Director of Communications, Pharmanovia

07912887250/ communications@pharmanovia.com

Or pharmanovia@67health.co.uk