Sunday, December 27, 2015

Samruk-Kazyna announces six agreements totaling US$4bn at 3d meeting of Kazakhstan-China Business Council

BEIJING - Wednesday, December 23rd 2015 [ME NewsWire]

(BUSINESS WIRE)-- Samruk-Kazyna, the sovereign wealth fund of the Republic of Kazakhstan, today announced memorandums of understanding and agreements for five projects totaling US$4bn around the 3d meeting of the Kazakhstan-China Business Council (KCBC).

The agreements reached at the KCBC demonstrate the deepening relationship between Kazakh and Chinese business, the two nations at the heart of the New Silk Road. Attended by more than 350 representatives from governments and business of both countries, the event included key note remarks from Kazakhstan’s Prime Minister Karim Massimov, Samruk-Kazyna’s CEO Umirzak Shukeyev.

Key announcements at the KCBC meeting include:

    Agreement between KazMunayGas and Sinopec in oil exploration and production, petrochemicals, engineering and renewable energy
    Agreement between Kazakhstan’s national atomic company, Kazatomprom, and China General Nuclear Power for design and construction of a plant for the production of fuel assemblies in Kazakhstan and the joint development of uranium deposits in Kazakhstan
    Agreement between Kazakhstelecom and China Telecom to roll out fiber optic communications lines rural Kazakhstan

“We are here to showcase the partnership and investment opportunities open to Chinese firms as our countries seek to develop the New Silk Road. Successful partnership between our two nations will drive growth, development and stability for the future,” said Dr. Umirzak Shukeyev, Chairman of Samruk-Kazyna. “This Council is not only a platform for public and private partnerships, but a forum for the exchange of experiences and ideas that can grow our economies.”

Panel sessions at the meeting detailed investment opportunities in Kazakhstan, ongoing public asset privatization efforts in the country, Samruk-Kazyna’s Transformation Program, and infrastructure, innovation & logistics. There was also a session dedicated to the Green Economy and Sustainable Development, led by Expo2017 which will be hosted in Astana.

About Samruk-Kazyna

Samruk-Kazyna is the catalyst for the modernisation, diversification and growth of Kazakhstan’s economy. Founded in 2008, the Fund manages a diversified portfolio of leading companies and national development institutions including Air Astana, FC Astana and Kazakhtelecom. The Fund is currently leading a Transformation Program to improve the management and productivity of its existing assets in an effort to help Kazakhstan in its goal to become one of the top 30 developed countries in the world by 2050.

Contacts

Ms. Aliya Sandybaeva, Department of Public Relations of “Samruk-Kazyna”:

+7-7172-554-114, +7-777-777-72-89

a.sandybaeva@sk.kz

www.sk.kz









Permalink: http://www.me-newswire.net/news/16691/en

Saturday, December 26, 2015

Weiler Corporation Acquires SWATYCOMET from Avtotehna

Game-changing combination positions Weiler as a global market leader in abrasives and provides new growth opportunities for SWATYCOMET

CRESCO, Pa. & MARIBOR, Slovenia - Thursday, December 24th 2015 [ME NewsWire]

(BUSINESS WIRE)-- Weiler Corporation, a leading provider of power brushes, abrasives and maintenance products for surface conditioning, announced today the acquisition of SWATYCOMET d.o.o. (SWATYCOMET), one of Europe’s leading manufacturers of bonded abrasives. Terms of the transaction were not disclosed.

The acquisition of SWATYCOMET substantially expands Weiler’s global reach into the bonded abrasives segment. It will enable Weiler to offer a comprehensive solution to the welding, metalworking and general industrial markets. Through the transaction, Weiler adds a broad range of cut-off and grinding wheels and technical fabrics to serve industrial markets.

SWATYCOMET, headquartered in Maribor, Slovenia, dates back to 1879 and has a long tradition of providing high quality abrasive products. Its products are distinguished by safety, high durability and cost efficiencies that provide customers productivity and lower operating costs. Additionally, SWATYCOMET has made recent significant investments in customer-driven innovations that will expand the share of SWATYCOMET products for the most demanding grinding and cutting applications.

“With this acquisition, we are joining two great companies and brands, both of us with proud histories that are now coming together to offer increased value to our customers around the world. It has been a pleasure to get to know some of the members of the SWATYCOMET team during the sale process and I am excited to have them join the Weiler team. The complementary nature of our products, geographies and company cultures makes this a great fit. Additionally, Weiler customers will see immediate benefit as we expand our TigerTM brand into the bonded abrasive category,” said Chris Weiler, CEO, Weiler Corporation.

Matjaž Merkan, CEO of SWATYCOMET, commented, “SWATYCOMET is excited about joining the Weiler team. The partnership will provide us with broader access to the large U.S. abrasive market and position SWATYCOMET for continued growth. Our companies share common values and ambitions for market leadership. We are both driven to provide high quality, innovative solutions and excellent customer service.”

Additional information on the transaction can be found here.

About SWATYCOMET

SWATYCOMET is a leading manufacturer of bonded abrasives and technical fabrics. The group works closely with customers to deliver innovative products distinguished by safety, durability, and cost efficiency. SWATYCOMET has revenues of ca. EUR 87 million and employs a staff of around 900 workers.

SWATYCOMET, d.o.o., Titova cesta 60, 2000 Maribor, Slovenia | +386 2 333 16 00 | www.swatycomet.com

About Weiler Corporation

As an industry leader and global manufacturer of surface conditioning solutions for the Welding & Fabrication, Industrial Production, and Maintenance, Repair & Operations markets, Weiler Corporation is dedicated to forging collaborative relationships with our customers to tackle their toughest cleaning, grinding, cutting, deburring, and finishing challenges.

Weiler Corporation, One Weiler Dr., Cresco, PA, 18326-0149 | (800) 835-9999 | www.weilercorp.com

Contacts

Weiler Corporation

Kim Pfannebecker, 515-557-2087

kimp@2rm.com



SWATYCOMET

Nina Borstner, +386 31 601 614

dialog@dialog-si.net







Permalink: http://www.me-newswire.net/news/16697/en

Moody’s Honored with Top Industry Awards Throughout 2015

NEW YORK - Thursday, December 24th 2015 [ME NewsWire]

(BUSINESS WIRE)--Moody’s Corporation (NYSE:MCO) has again been recognized as an industry leader by several  top-tier journals around the world in 2015, receiving almost double the number of awards it did last year. Moody’s Investors Service was awarded for the quality of its credit analysis and Moody’s Analytics was similarly acknowledged for its broad range of financial risk solutions.

“We are pleased and honored to have received strong global recognition for the quality of the credit insight we provide through Moody’s Investors Service and the strength and performance of the financial risk solutions we offer through Moody’s Analytics,” said Raymond McDaniel, President and Chief Executive Officer of Moody’s.

A poll conducted by Institutional Investor named Moody’s Investors Service “Top Credit Rating Agency” for the fourth consecutive year in the magazine’s annual reader poll of financial professionals. And, Smith’s Research & Gradings recognized it as the “#1 US Rating Agency” in 2015, building on last year’s award for the industry’s top Municipal Research Team. Publications across Asia recognized Moody’s Investors Service as the leading authority on credit quality and credit ratings. For the fourth year in a row it was named “#1 Asia Credit Rating Agency” in AsiaMoney magazine’s annual reader poll. FinanceAsia named Moody’s Investors Service “Most Influential Credit Rating Agency” for the third consecutive year in its annual Fixed Income Poll. And for the second year in a row, Australia-based KangaNews named Moody’s Investors Service “Rating Agency of the Year.”

In EMEA, GlobalCapital Bond Awards honored Moody’s Investors Service with two awards this year, “Best Credit-Rating Agency in EMEA for High Yield” and “Best Credit-Rating Agency in EMEA for Emerging Markets Credits.” In the US, Finance Monthly, M&A Awards named it “Project Finance Firm of the Year (USA)” in 2015. In addition, Islamic Finance News recognized Moody’s Investors Service as “Best Islamic Rating Agency,” and Global Islamic Finance Awards named it “Best Islamic Finance Rating Agency.”

Moody’s Analytics received strong recognition for the depth and performance of its financial risk management solutions, which help capital markets professionals measure and manage risk through software and services, economic research, financial training and advisory services.

Chartis gave Moody’s Analytics a top ranking in its RiskTech100® report for 2016 and named it the winner of the Enterprise Stress Testing Solution category. Participants in the Asia Risk Technology Rankings voted Moody’s Analytics “#1 Regulatory Capital Calculation and Management” and “#1 Economic Capital Calculation and Management.” Structured Products Americas named Moody’s Analytics “Vendor of the Year - Non-bank” in 2015, and ranked it as “#1 Risk Management Regulatory/Economic Capital Calculation” in its Technology Rankings.

In addition, both IDC FinTech Rankings and FinTech Forward voted Moody’s Analytics as a “Preferred Vendor” in 2015. Insurance Risk also recognized Moody’s Analytics for the second consecutive year for “Best Solvency II Software,” and awarded it “Best Economic Scenario Generation.”

Further information is available at www.moodys.com/awards.

ABOUT MOODY’S CORPORATION

Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody’s Corporation (NYSE:MCO) is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management. The corporation, which reported revenue of $3.3 billion in 2014, employs approximately 10,200 people worldwide and maintains a presence in 36 countries. Further information is available at www.moodys.com.    

Contacts

Moody's Corporation

Michael Adler, 212-553-4667

Senior Vice President

Corporate Communications

michael.adler@moodys.com



or

Salli Schwartz, 212-553-4862

Global Head of Investor Relations

sallilyn.schwartz@moodys.com







Permalink: http://me-newswire.net/news/16698/en

Panasonic Large Screen Solutions -Enhance the Fan Experience

OSAKA, Japan - Tuesday, December 22nd 2015 [ME NewsWire]

(BUSINESS WIRE)-- Panasonic released a video featuring large-screen solutions for gold standard venues of sports and entertainment in North America to enhance the fan experience. The video highlights the reasons Panasonic became the partner choice for such venues as Indianapolis Motor Speedway, Churchill Downs and L.A. LIVE.

[Video] Panasonic Large Screen Solutions -Enhancing the Fan Experience https://www.youtube.com/watch?v=49NLqGXAUqM

Enhance the Fan Experience

Jim Doyle, President of Panasonic Enterprise Solutions Company, a division of Panasonic Corporation of North America, explained in the video that Panasonic created a holistic custom solution to match the unique needs and challenges of each stadium and arena to enhance the fan experience:

“There's nothing like the energy, emotion and sensory experience of a live event. But that's just not enough anymore. The real-time data, the interviews, the social media component, these are things that simply have to be incorporated into the live experience to get people off their couches and into the stadiums or arena.”

“The reason Panasonic quickly became the partner of choice for venues looking to create a completely immersive, engaging experience for their fans is that Panasonic partners with them to fully understand their needs, and the unique challenges they face in their venue. Then, together, Panasonic creates a holistic, custom solution that addresses their concerns and meets their needs in a way that no one else can.”

Panasonic Solutions extend “from Glass to Screen”. They cover what’s captured by Panasonic professional video cameras and lenses to what appears on the video boards in the venue and all the elements in between, including switchers and monitors, control room design, security systems, content creation, management and maintenance. No one in the industry can offer a more comprehensive technology package than Panasonic.

Custom, Integrated AV Solutions at Indianapolis Motor Speedway

At the Indianapolis Motor Speedway, the largest sports venue in the world with a 2.5-mile oval, Panasonic installed 20 large to moderately sized LED video boards that provide views to 98% of the spectators.

Panasonic also installed a control room to deliver real-time stats, data and rich content to each of those 20 boards.

“With high definition video equipment, we could switch from camera angles on the race track to the in-car camera to see what the driver is going through on the track real time, in addition to being able to add all the information on fans’ wants” said Doug Boles, President of Indianapolis Motor Speedway in the video.

The World’s Largest* 4K Screen at Churchill Downs

Churchill Downs, home of the Kentucky Derby, is another unique gold-standard venue that needed to preserve the history and legacy of the famous facility. It also needed to provide a view of the race to 75,000 people in the infield who had never actually been able to see the action on the track before.

Panasonic installed the world largest 4K video board measuring 171-feet wide by 90-feet tall with a state-of-the-art sound system. At the Kentucky Derby the entire venue was riveted to the board during the fastest 2 minutes in sport.

* as of April 23, 2014

Large Screen Solution at L.A. LIVE Entertainment Complex

The work at L.A. LIVE and STAPLES Center was critically important to Panasonic. It installed a fully comprehensive solution including security solutions, large-screen displays, projectors, POS systems and TVs.

“We wanted to have one technology partner that could help not just from a hardware perspective, but also from a service standpoint. That is something that is unique with Panasonic”, said, Russell Silvers, Senior Vice President, Partnership Activation, AEG in the video.

Connected Experiences

Jim Doyle spoke about solutions for the future. “At Panasonic, we're very focused on creating the future. And to us, to our fans and to our customers and our sponsors, the future is about Connected Experiences. Imagine connecting multiple venues in different locations in real time, and staging a virtual concert, for example, where you’re now bringing full crowds into venues that would otherwise be empty on a particular date. The possibilities for delivering enhanced experiences, revenue generation and community engagement are virtually unprecedented.”

“Panasonic hopes to help build a better world by fostering a stronger, trust-based partnership with its customers and by making these solutions available across the world,” concluded Yasuji Enokido, President of Panasonic Corporation’s AVC Networks Company.

Panasonic Enterprise Solutions has also installed large-screen LED displays at the Charlotte Motor Speedway which hosts NASCAR, Ohio State University, Lincoln Financial Field (the NFL team Philadelphia Eagles’ stadium) and Estadio Azteca in Mexico City.

Related links:

Panasonic Corporation of North America: Large LED Video Solutions

[Topics]Panasonic, Indianapolis Motor Speedway Enhance the Indy Fan Experience with 20 Newly-Installed LED Video Boards Delivering Stunning Race Content in Real Time

[Topics] Engineering a Better Fan Experience with the World's Largest 4K LED Video Board at Kentucky Derby

[Topics] Philadelphia Eagles, Panasonic Primed to Deliver Winning Fan Experience for 2014 Season

[Topics] Panasonic's LED Large Screen Displays Provide an All-New Fan Experience at Estadio Azteca in Mexico City

Panasonic’s Solutions: L.A. LIVE

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=51248426&lang=en

Contacts

Panasonic Corporation

Global Communications Department

Media Promotion Office

+81-3-3574-5729

presscontact@ml.jp.panasonic.com









Permalink: http://me-newswire.net/news/16688/en

AECOM and Pininfarina Win Istanbul New Airport Design Competition

İGA announces winning design for new air traffic control tower

ISTANBUL - Friday, December 25th 2015 [ME NewsWire]

(BUSINESS WIRE)-- İGA has chosen an innovative design by AECOM and Pininfarina as the winner of an international design competition for the regional Air Traffic Control (ATC) tower and technical building at the Istanbul New Airport. Unusually, the winning entry marries influences from the aviation and automotive sectors, with strong architectural design. The AECOM and Pininfarina collaboration was chosen from a total of six entries from international architectural teams, including Zaha Hadid, Fuksas, Moshe Safdie, Grimshaw-Nordic and RMJM.

The win marks AECOM’s first collaboration with Pininfarina, the design house renowned for its car designs for Ferrari and Alfa Romeo, among others. The collaboration combines the expertise of AECOM’s architectural and engineering teams with Pininfarina’s distinctive architectural style that epitomises speed and movement, influenced by automotive design.

Yusuf Akçayoğlu, chief executive officer of İGA, said: “One of the world’s largest aviation projects, Istanbul New Airport’s air traffic control tower will be an iconic structure, visible to all passengers travelling through the airport. We were looking for a striking design fit for a 21st century airport while remaining sensitive to Istanbul’s unique heritage. We received excellent designs from all over the world and are delighted to announce the AECOM and Pininfarina team as the competition winner.”

The ATC will be the landmark for Istanbul New Airport, which is set to be the world’s largest new airport in terms of annual passenger capacity. The competition scope was to deliver the concept designs for the tower, showcasing contemporary sustainable architectural design that reflects the multi-cultural and historical characteristics of Istanbul city.

The AECOM and Pininfarina design evokes the aerodynamic forms used in automotive and aviation design, and includes an elliptical tower that will be visible to all passengers flying in and out of the new airport. The tower shape is inspired by the tulip, which has been the symbol of Istanbul for many centuries and is an important cultural reference in Turkish history.

Jennifer Dixon, head of architecture, Europe, Middle East, India and Africa, AECOM, said: “In this competition, our aim was to combine the dynamism and romance of Pininfarina’s architectural style that is so influenced by automotive design with AECOM’s in-house aviation architecture capabilities. The AECOM and Pininfarina team has created a beautiful and highly functional piece that rekindles the excitement and glamour of modern air travel at the crossroads of Europe and Asia.”

Bernardo Gogna, senior vice president and director of global aviation, AECOM, said: “Our approach to this competition was to combine the expertise of a different design industry with AECOM’s in-house aviation architecture and engineering capabilities. Our goal was to bring Pininfarina’s values, which are grounded in tradition and craftsmanship, to the world of aviation. The result marries pure iconic beauty with true innovation.”

Paolo Pininfarina, chairman of Pininfarina, said: “The Istanbul ATC for the New Airport is an iconic building, destined to become a landmark for Istanbul. Our aim, as with all our projects, was to develop a bespoke idea that embodied our partner’s design identity while at the same time bringing a new aesthetic perspective. By leveraging the unique combination of our 85 years’ experience in design – from cars to superyachts, and from luxury products to furniture – with our architectural knowledge gained from several projects around the world, we have been able to create a technologically advanced structure of distinctive character.”

The design competition is the latest win for AECOM at Istanbul New Airport. Earlier this year it was appointed by İGA to deliver designs for all the airside works at the airport. The new airport will have an initial capacity of 90 million passengers per year. It will be located on the European side of the city, 35 kilometres from the centre on a site adjacent to the Black Sea. Subsequent planned phases will expand the airport to include six runways and three terminal buildings. When all phases are complete, the airport will have an annual capacity of up to 200 million passengers.

İGA is a consortium of five leading Turkish contractors comprising Cengiz, MAPA, Limak, Kolin and Kalyon. İGA was awarded the concession to build Istanbul New Airport as the engineering, procurement and construction contractor and will also be the operator. In October, İGA secured a €4.5 billion loan from a group of six banks for the first phase of the project.

-ENDS-

About AECOM

AECOM is built to deliver a better world. We design, build, finance and operate infrastructure assets for governments, businesses and organisations in more than 150 countries. As a fully integrated firm, we connect knowledge and experience across our global network of experts to help clients solve their most complex challenges. From high-performance buildings and infrastructure, to resilient communities and environments, to stable and secure nations, our work is transformative, differentiated and vital. A Fortune 500 firm, AECOM companies had revenue of approximately US$18 billion during the 12 months ended September 30, 2015. See how we deliver what others can only imagine at aecom.com and @AECOM.

Contacts

Enquiries:

AECOM

Muna Al-Azzawi, +44 (0)7917 574 766

muna.al-azzawi@aecom.com









Permalink: http://me-newswire.net/news/16701/en

Friday, December 25, 2015

Furukawa Electric: Recycled Plastic Cable Trough Has Been Officially Approved by the UK Railway Network

-Increasing demand of ”Green Trough®” due to its workability, durability and eco-friendliness-

TOKYO - Thursday, December 24th 2015 [ME NewsWire]

(BUSINESS WIRE)-- ”Green Trough®”, a recycled plastic cable trough developed by Furukawa Electric (TOKYO:5801)(ISIN:JP3827200001), has been officially approved by the UK railway network. Green Trough® contributes to the formulation of global scale circulatory society due to its superior environmental performance.

Background

Cable trough is a cable protection conduit which is mainly installed along a railway, and reinforced concrete is widely used in the market. However, reinforced concrete cable trough is difficult to handle and install due to its weight, in addition, it is fragile and corrosion-prone from chemical substances such as chloride and snow melting agents. Therefore, the market has been requesting improved cable trough with better workability and higher durability.

“Green Trough®” is an environmentally friendly recycled plastic cable trough developed by Furukawa Electric, the first in the world of its kind, using waste plastic as a main material. It weighs only approx. 1/4 of reinforced concrete cable trough, and therefore can reduce the work load and construction period drastically. In addition, it has high weather resistance and corrosion resistance parameters, which realize longer operating life. To this day, Green Trough® has been approved and installed in various different segments such as railway, highway, photovoltaic power plant, large-scale plant etc., all over Japan.

Contents

“Green Trough®” has been approved and is already installed in the UK as part of control period 5 (CP5), total supplied is approx. 100km of “Green Trough®” as of the end of September this year.

Cable trough demand is expected to expand up to several hundred kilometers for project such as the High Speed 2 (HS2) project in the U.K, and the global demand of “Green Trough®” is expected to increase more than ever due to its workability, durability and superior environmental performance.

In such circumstances, Furukawa Electric will proactively continue the development and improvement of “Green Trough®” in order to take the place of concrete trough, and expand the business not only in the U.K, but globally.

In the U.K. market, “Green Trough®” is sold and distributed via Trough-Tec Systems, who have been a strategic partner of Furukawa Electric and continue to expand this business.

Contacts

Furukawa Electric Co., Ltd.

Akira Kabumoto, +81-3-3286-3141

Manager

Global Business Department

Functional Plastics Div.









Permalink: http://me-newswire.net/news/16699/en

Merck and Pfizer Advance Clinical Development Program with Two Additional Phase III Trials of Avelumab

DARMSTADT, Germany & NEW YORK - Tuesday, December 22nd 2015 [ME NewsWire]

    Initiation of Phase III JAVELIN Ovarian 200 trial investigating avelumab as a treatment for platinum-resistant/refractory ovarian cancer
    Initiation of Phase III JAVELIN Bladder 100 trial investigating avelumab as a maintenance treatment, in the first-line setting, for patients with urothelial cancer
    Merck-Pfizer Alliance achieves 2015 goal of initiating six pivotal trials with JAVELIN Ovarian 200 and JAVELIN Bladder 100 trials

(BUSINESS WIRE)-- Merck and Pfizer today announced the opening of trial sites for an international Phase III study of avelumab*, an investigational fully human anti-PD-L1 IgG1 monoclonal antibody, in patients with platinum-resistant/refractory ovarian cancer. The JAVELIN Ovarian 200 trial is the first Phase III study of a PD-L1 inhibitor investigated as a treatment for platinum-resistant/refractory ovarian cancer. The alliance also announced that the US Food and Drug Administration has provided approval to move forward with a Phase III study of avelumab as a maintenance treatment, in the first-line setting, in patients with locally advanced or metastatic urothelial cancer. The first trial sites are expected to open shortly.

"There are limited treatment options for women with ovarian cancer, and the prognosis for women with platinum-resistant ovarian cancer is especially poor,” said Chris Boshoff, Vice President and Head of Early Development, Translational and Immuno-Oncology at Pfizer Oncology. "We have observed encouraging signs of early clinical activity of avelumab in patients with platinum-resistant or platinum-refractory ovarian cancer, and we hope to build on these results next year through a planned Phase III study of avelumab in combination with platinum therapy in patients with previously-untreated ovarian cancer.”

This Phase III, randomized (1:1:1), open-label, parallel, multicenter, global study (JAVELIN Ovarian 200) is designed to evaluate the superiority of avelumab as a monotherapy or in combination with pegylated liposomal doxorubicin (PLD), compared with PLD alone, in treating patients with platinum-resistant/refractory ovarian cancer. The primary endpoint is overall survival (OS). Study investigators anticipate enrolling approximately 550 patients across more than 190 sites in Asia, Europe and North America.

Merck and Pfizer have also initiated a Phase III study (JAVELIN Bladder 100) investigating avelumab as a maintenance treatment, in the first-line setting, in patients with locally advanced or metastatic urothelial cancer. This is currently the only Phase III trial designed to evaluate an immunotherapy agent as a maintenance treatment, in the first-line setting, in patients with urothelial cancer.

“Locally advanced or metastatic urothelial cancer is another aggressive cancer, with the disease often progressing quickly following first-line treatment,” said Dr. Alise Reicin, Head of Global Clinical Development at Merck’s biopharma business. “It’s an exciting time for the Merck-Pfizer Alliance as we continue to accelerate our clinical development program, and now into urothelial cancer. This disease has an exceptionally high unmet need and we believe there is potential for our anti-PD-L1 antibody to be part of future treatment strategies.”

This open-label, multicenter, randomized, global, Phase III study is designed to evaluate the safety and efficacy of avelumab plus best supportive care (BSC), compared with BSC alone, in patients with unresectable locally advanced or metastatic urothelial cancer whose disease did not progress on (or following) completion of first-line treatment with a platinum-containing chemotherapy. The primary endpoint of the study is OS which will be assessed in two urothelial cancer patient populations: patients with PD-L1 positivity and all randomized patients.

JAVELIN Bladder 100 is expected to enroll 668 patients across more than 200 sites in 38 countries. PD-L1 expression status will be determined by retrospective analysis of mandatory tumor samples collected from patients enrolled in the trial. It is estimated that at least half of those patients randomized to treatment will be PD-L1-positive.

The clinical development program for avelumab now includes more than 1,500 patients who have been treated across more than 15 tumor types, including breast cancer, gastric/gastro-esophageal junction cancers, head and neck cancer, melanoma, Merkel cell carcinoma, non-small cell lung cancer, ovarian cancer, renal cell carcinoma and urothelial (e.g. bladder) cancer. The alliance has initiated six pivotal trials, reaching its goal for 2015, with additional trials expected to initiate in 2016.

*Avelumab is the proposed International Non-proprietary Name for the anti-PD-L1 monoclonal antibody (MSB0010718C). Avelumab is under clinical investigation and has not been proven to be safe and effective. There is no guarantee any product will be approved in the sought-after indication by any health authority worldwide.

References

    Ferlay J, et al. GLOBOCAN 2012 v1.0, Cancer Incidence and Mortality Worldwide: IARC CancerBase No. 11 [Internet]. Lyon, France: International Agency for Research on Cancer; 2013. Available from: http://globocan.iarc.fr. Accessed December 2015.
    World Cancer Research Fund International. Ovarian Cancer Statistics. Available from: http://www.wcrf.org/int/cancer-facts-figures/data-specific-cancers/ovarian-cancer-statistics. Accessed November 2015.
    NICE. Ovarian Cancer: Recognition and Initial Management. https://www.nice.org.uk/guidance/cg122. Accessed November 2015.
    National Cancer Institute. Ovarian Epithelial, Fallopian Tube, and Primary Peritoneal Cancer Treatment (PDQ®). Available from: http://www.cancer.gov/types/ovarian/patient/ovarian-epithelial-treatment-pdq. Accessed November 2015.
    Lederman JA, et al. Newly diagnosed and relapsed epithelial ovarian carcinoma: ESMO clinical practice guidelines for diagnosis, treatment and follow-up. Ann Oncol 2013; 24 Suppl 6: vi24–32.
    Ojavo LS, et al. Emerging immunotherapies in ovarian cancer. Discov Med 2015; 20: 97–109.
    NCCN Clinical Practice Guidelines in Oncology. Bladder Cancer Version 2. 2015. Available at: https://www.nccn.org/store/login/login.aspx?ReturnURL=http://www.nccn.org/professionals/physician_gls/pdf/bladder.pdf. Accessed December 2015.
    Malats N, Real FX. Epidemiology of Bladder Cancer. Hematol Oncol Clin North Am 2015; 29(2):177-89.

About Ovarian Cancer

Globally, ovarian cancer is the seventh most common cancer in women.1 Annually, nearly 239,000 cases are diagnosed worldwide.2 Ovarian cancer may be difficult to diagnose, as symptoms may appear only in the later stages, when the disease has spread beyond the ovaries.2 Outcomes for women with ovarian cancer are generally poor due to most patients presenting with advanced disease.3 The 5-year prevalence of women globally living with ovarian cancer is 22.6 per 100,000.2 Current treatment options for epithelial ovarian cancer may include surgery, radiotherapy, chemotherapy and targeted therapies.4 Women who are unable to undergo treatment with platinum-based chemotherapy, due to resistance or refractory disease, currently have very limited treatment options. Platinum-resistant ovarian cancer is defined as ovarian cancer that recurs within six months of completing primary chemotherapy with a platinum-based medication.5 Platinum-refractory ovarian cancer is defined as ovarian cancer that progresses during treatment with a platinum-based chemotherapy regimen.5 There is still a clear unmet need in ovarian cancer in relation to general disease awareness,2 improving initial investigations in primary and secondary care and novel therapies with demonstrable efficacy.6

About Urothelial Cancer

Urothelial cancer includes several tumors originating from the urothelial cells lining the bladder, renal pelvis and urethra.7 Bladder cancer accounts for 90% of urothelial cancers,7 and is the ninth most common cancer globally. Approximately 400,000 new cases of bladder cancer are diagnosed and 150,000 deaths are attributed to this disease each year.8 The incidence and mortality of bladder cancer have remained unchanged over the past 25 years.8

About Avelumab

Avelumab (also known as MSB0010718C) is an investigational fully human anti-PD-L1 IgG1 monoclonal antibody. By inhibiting PD-L1 interactions, avelumab is thought to enable the activation of T-cells and the adaptive immune system. By retaining a native Fc-region, avelumab is thought to engage the innate immune system and induce antibody-dependent cell-mediated cytotoxicity (ADCC). In November 2014, Merck and Pfizer announced a strategic alliance to co-develop and co-commercialize avelumab.

About Merck-Pfizer Alliance

Immuno-oncology is a top priority for Merck and Pfizer. The global strategic alliance between Merck and Pfizer enables the companies to benefit from each other’s strengths and capabilities and further explore the therapeutic potential of avelumab, an investigational anti-PD-L1 antibody initially discovered and developed by Merck. The immuno-oncology alliance will jointly develop and commercialize avelumab and advance Pfizer’s PD-1 antibody. The alliance will collaborate on up to 20 high priority immuno-oncology clinical development programs, including combination trials, many of which are expected to commence in 2015.

Pfizer Inc.: Working together for a healthier world®

At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of healthcare products. Our global portfolio includes medicines and vaccines, as well as many of the world's best-known consumer healthcare products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more, please visit us at www.pfizer.com.

About Merck

Merck is a leading science and technology company in healthcare, life science and performance materials. Around 50,000 employees work to further develop technologies that improve and enhance life – from biopharmaceutical therapies to treat cancer or multiple sclerosis, cutting-edge systems for scientific research and production, to liquid crystals for smartphones and LCD televisions. In 2014, Merck generated sales of € 11.3 billion in 66 countries.

Founded in 1668, Merck is the world's oldest pharmaceutical and chemical company. The founding family remains the majority owner of the publicly listed corporate group. Merck, Darmstadt, Germany holds the global rights to the Merck name and brand. The only exceptions are the United States and Canada, where the company operates as EMD Serono, MilliporeSigma and EMD Performance Materials.

All Merck Press Releases are distributed by e-mail at the same time they become available on the Merck Website. Please go to www.merckgroup.com/subscribe to register online, change your selection or discontinue this service.

Pfizer Disclosure Notice

The information contained in this release is as of December 22, 2015. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

This release contains forward-looking information about avelumab (MSB0010718C), including a potential indication for avelumab for the treatment of patients with platinum-resistant/refractory ovarian cancer and as a potential indication for the treatment of patients with locally advanced or metastatic urothelial cancer, Pfizer’s and Merck’s immuno-oncology alliance involving anti-PD-L1 and anti-PD-1 therapies, and clinical development plans, including their potential benefits, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical study commencement and completion dates as well as the possibility of unfavorable study results; risks associated with interim data; the risk that clinical trial data are subject to differing interpretations, and, even when we view data as sufficient to support the safety and/or effectiveness of a product candidate, regulatory authorities may not share our views and may require additional data or may deny approval altogether; whether and when drug applications may be filed in any jurisdictions for any potential indications for avelumab, combination therapies or other product candidates; whether and when any such applications may be approved by regulatory authorities, which will depend on the assessment by such regulatory authorities of the benefit-risk profile suggested by the totality of the efficacy and safety information submitted; decisions by regulatory authorities regarding labeling and other matters that could affect the availability or commercial potential of avelumab, combination therapies or other product candidates; and competitive developments.

A further description of risks and uncertainties can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, and in its subsequent reports on Form 10-Q, including in the sections thereof captioned “Risk Factors” and “Forward-Looking Information and Factors That May Affect Future Results”, as well as in its subsequent reports on Form 8-K, all of which are filed with the SEC and available at www.sec.gov and www.pfizer.com.

Contacts

Merck

Media: Gangolf Schrimpf, +49 6151 72 9591

Investor Relations: +49 6151 72 3321



Pfizer

Media: Sally Beatty, +1 212 733 6566

Investor Relations: Ryan Crowe, +1 212 733 8160







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