Lytix Biopharma AS, a Norwegian clinical stage immunoncology company, today announces a clinical collaboration with the US-based company Iovance Biotherapeutics, Inc., a late-stage biotechnology company developing novel cancer immunotherapies based on tumor infiltrating lymphocyte (TIL) technology, to evaluate Lytix`s first-in-class oncolytic peptide, LTX-315, in combination with Iovance`s autologous ready to infuse T cell therapy.
Lytix Biopharma is focused on the development of oncolytic molecules based on pioneering research in “host defense peptides”. The company`s lead compound, LTX-315, is administrated intra-tumorally and works by inducing lysis of intracellular organelles of tumor cells thereby unleashing a broad spectra of tumor antigens. Clinical trials have demonstrated an increase in CD8+ TILs in the majority of evaluated patients with solid tumors resulting in size reduction of distant non-treated lesions.
Iovance Biotherapeutics intends to improve patient care by making T cell-based immunotherapies broadly accessible for the treatment of patients with solid tumors and blood cancers. Tumor infiltrating lymphocyte (TIL) therapy uses a patient’s own immune cells to attack cancer. TIL cells are extracted from a patient’s own tumor tissue, expanded through a proprietary process, and infused back into the patient. After infusion TILs reach tumor tissue where they attack tumor cells.
The collaboration is a non-exclusive collaboration where both parties will maintain ownership of their own assets.
Øystein Rekdal, CEO of Lytix Biopharma, said: “We are very excited about the collaboration with Iovance, and the combination of our technologies can be a potential new approach to T cell therapy for cancers. This agreement affirms that we remain committed to the further development of LTX-315 as a single agent and in combination with other therapies.”
Gaithersburg, Maryland – US
and Israel-based cybersecurity company Sepio Systems, has raised a $6.5 million in Series A
funding round led by Hanaco Ventures and Merlin Ventures, with the
participation of existing investors Energias de Portugal (EDP), Mindset
Ventures and Pico Partners. Since its establishment Sepio Systems has
raised $11 million.
Yossi Appleboum, CEO of Sepio Systems Inc.
In
conjunction with the financing, Sepio also announced the appointment of two new
executives to its management team: Gili Sahar joins as Chief Financial Officer
and Chen Ben Eliyahu takes as Vice President of Business Development.
Sepio
offers the world’s first end-to-end solution that detects and mitigates
hardware-based attacks, rogue peripherals, invisible network devices, and
manipulated firmware. The company’s Sepio Prime, which is a software-only
solution, has been successfully deployed in over 25 banks, insurance, and
telecom companies in the U.S., Singapore, Brazil, South Africa and Israel.
“The
increasing number of hardware based cyber-attacks is a major concern to all
enterprises. While all other security solutions are focused on software
threats, they are incapable of stopping threats coming from hardware”, said
Yossi Appelboum, co-founder and CEO of Sepio Systems, Inc.
“Sepio
defines and solves a problem most enterprises know they have but cannot
quantify or resolve,” explains Alon Lifshitz Founding Partner at Hanaco
Ventures. “Besides creating the Rogue Device Mitigation category, it’s
rare as an investor to back founders that have worked as a team for over twenty
years now building their third startup together.”
“Partnering
with Hanaco and Merlin and the continuous support from our existing investors
highlights the industry reception to our solution. This major investment allows
us to grow faster, increasing marketing and sales activities and engineering
resources.”, added Mr. Appleboum.
Merlin’s
partnership with Sepio includes bringing its Rogue Device Mitigation solution
to market in the US Federal space. “As soon as we saw Sepio, we realized it was
filling a critical gap in supply chain security by extending network visibility
down to the physical layer. Our model is to invest in differentiated
cybersecurity technology that we can bring to market to solve our customers’
most difficult challenges, and we see Sepio as the perfect fit.”, added David
Phelps, Chairman and CEO of Merlin.
As
part of its expansion, Sepio is opening a new office in Mclean, Virginia for
supporting the US federal customers.
About
Hanaco Ventures
Hanaco
Ventures is a New York and Tel Aviv based Venture Capital fund that
invests in the most promising start ups from the Israeli ecosystem. Hanaco
partners with Israeli companies, wherever they are in the world, helping them
become category leaders beloved by their customers. www.hanacovc.com
About
Merlin Ventures
Merlin
Ventures invests in emerging technologies to create enterprise ready products
that protect government and commercial organizations. Merlin offers a broad
portfolio of solutions that secure the enterprise from endpoints to networks,
from governance to risk management, from infrastructure to information.
Combining solutions with deep industry expertise and experience, Merlin
delivers the cybersecurity solutions that organizations need to protect their
most critical business assets while furthering their mission. www.merlincyber.com
About
Sepio Systems
Sepio
is disrupting the cyber-security industry by uncovering hidden hardware
attacks. Sepio Prime provides security teams with full visibility into their
hardware assets and their behavior in real time. A comprehensive policy enforcement
module allows administrators to easily define granular device usage rules and
continuously monitor and protect their infrastructure. Leveraging a combination
of physical fingerprinting technology together with device behavior analytics,
Sepio’s software-only solution offers instant detection and response to any
threat or breach attempt coming from a manipulated or infected element. www.sepio.systems
Alliance between EWPN and Wnet sees increased benefits on both sides of the Atlantic for women in fintech and payments
Amsterdam and Atlanta – 07
November 2019 – The European Women Payments Network (EWPN) and the U.S.-based
Women’s Network in Electronic Transactions (Wnet) share a mission to create
better opportunities for women and the men that advocate for them in the fintech
and payments industries. As a result of their like-minded goals to improve
inclusion and diversity, the two organisations today announced they are coming
together to allow their respective members to share the benefits of both
networks. Members of both organisations can
learn more by visiting EWPN and Wnet.
Through the new alliance, EWPN and Wnet will publish dedicated landing
pages where members can access each organisations’ extensive intelligence,
networking opportunities events, and programming. EWPN, launched in 2015 to champion
diversity and inclusion in fintech and payments, serves over 1,000 individual
members and 11 corporate members. Wnet, launched in 2005, serves over 3,000
women each year in the U.S., through events, information and knowledge sharing,
and networking opportunities.
“This exciting alliance will see EWPN and Wnet working together,
leveraging both networks for the benefit of all our combined members”,
explained Martha Mghendi-Fisher, Founder of EWPN. “Both networks are dedicated
to improving prospects for all women in the payments industry, increasing
inclusivity and diversity. Sharing our insights, knowledge and membership will
make us both stronger and allow us to bring about change as quickly as possible”.
Members will also have access to each organisation’s workshops and networking events in
various U.S. and European countries throughout the year, as well as mentorship
programmes. In addition, individual members of EWPN and Wnet may become
members of the other organisation at a discounted rate, even if their employer
is not a corporate member or sponsor.
Wnet
Executive Director Lisl Dutterer announced the collaboration news on stage at
the 2019 Wnet Leadership Summit “Leading
in a Changing World“,
the premier payments industry event designed by and for women leaders and the
men who advocate for them.
“By working together, Wnet
and EWPN are creating global change and the opportunity for more women to lead in
the payments industry”, said Dutterer. “Wnet has been extending our member
benefits to women around the globe, and we are excited for the opportunity to
work with EWPN’s leadership to accomplish that goal. Sharing our insights,
knowledge, and experience will make our organisations stronger and is another
effort to bring about positive change across the global payments ecosystem”.
The European Women Payments Network (EWPN) is focused on championing the
skills and expertise of women in the burgeoning FinTech and payments sectors.
In particular, through mentorship, leadership programmes, networking events and
workshops, EWPN is providing the opportunity for women to learn, network, share
and celebrate their achievements.
Each year EWPN holds the only Pan-European
Conference specifically focused on women
working in FinTech & Payments. The conference brings together women from
all over Europe for a full-day event, featuring interactive panels, deep-dive
workshops, and plenary sessions with industry female leaders.
About
the Women’s Network in Electronic Transactions (Wnet)
The Women’s Network in Electronic Transactions (Wnet) is the premier professional organization for women in payments and the men that advocate for them, providing personal enrichment no matter what stage members are in their careers. The organization provides world-class national and regional programming, fosters networking and promotes mentoring to help members achieve greater personal success, influence and professional parity. Founded in 2005, Wnet is a 501 (c) (3) not-for-profit organization serving thousands of women in payments annually. For more information about national and regional events and programming, or to become a member, please visit www.wnetonline.org.
Note from editor: see also this article about Promoting Women
6 November 2019 Leading employee benefits provider, Unum, hosted an event yesterday (5th November) to highlight how important it is for employers to provide the right support for employees impacted by cancer throughout their journey from diagnosis through treatment to recovery and possible return to work.
Employers play a vital role in supporting employees with cancer, says Unum
Guest speakers included former BBC presenter, and current
Classic FM host, Bill Turnbull. Bill talked openly about his ongoing battle
with prostate cancer, after being diagnosed in 2017, and how it has affected
him both personally and professionally.
It is an accepted fact that now one in two people in the UK will get cancer in their lifetime[1]. In the context of an ageing work force, 125,000 of working age adults are diagnosed with cancer annually[2], meaning that cancer is becoming an issue which will impact most businesses whatever the size.
In 2018 cancer was the top cause of long-term sickness absence
claims paid by Unum.
Upon returning to work, Unum’s research found that 28% of
workers with cancer, or who have had cancer, said they didn’t receive any
support, or the support they did receive fell below their expectations when
they were at work following their diagnosis.
84% agreed their loyalty towards employers could have been
influenced by the amount of support they received, and 3 out of 4 workers
worried about the cost of cancer and how their families would cope with loss of
income if they had to give up work.
A panel of corporate wellbeing and cancer care specialists,
moderated by Unum’s HR Director Liz Walker, discussed that the key issues
affecting employees include dealing with the feeling of fear that comes after a
cancer diagnosis; fear of losing their job and fear of not being able to
support themselves. Employees can also struggle with the lasting physical effects
of cancer treatment after returning to work, including fatigue, as well as lack
of confidence from being out of the workplace for a period of time.
The panel also highlighted that what can affect employers
and line managers the most is speaking about a cancer diagnosis with an employee.
This can be a sensitive and challenging conversation and one which they have
not always been trained for, which could mean they struggle to provide the
support needed.
Employers can help by ensuring that the right support is
put in place to help the employee throughout their treatment and possible
return to work. The panel agreed that one effective way of doing this is to
ensure all guidelines and advice relating to cancer are available in one place,
easily accessible to both employees and employers.
Unum is enhancing the cancer support it offers through its Critical
Illness cover, including the introduction of Unum’s ‘Cancer Pathway’, which
provides consultation assistance to patients, helps with managing symptoms, a
medical concierge, and psychological and post-treatment support.
Vocational Rehabilitation Consultants (VRCs) are also available
to work closely with employers to put together a plan to help recovering employees
return to work when they’re ready to do so.
Help@hand, Unum’s new app powered by Square Health, gives
employees access to enhanced health support and is available with Unum’s Group
Income Protection policies at no additional cost. Four key services are
available to employees and their families through Help@hand: a remote GP
service, a second opinion, mental health support and physiotherapy. The second
opinion service can be particularly important after an initial cancer diagnosis
to ensure an employee receives the most effective treatment, tailored to their
unique needs. Help@hand provides access to specialist consultants who can offer
either a face to face or video consultation.
After the panel discussion, speakers and attendees
networked with the Unum team as well as Unum’s support service providers and
partners including reframe (formerly HSC), a UK provider of specialist cancer
support, and Maggie’s, a charity that offers free emotional and practical help for
people with cancer and their families.
Bill Turnbull says: “It’s
been two years since my diagnosis and my life has changed forever. While I’ve
had my ups and downs, it’s been the support of those around me who have helped me,
and this extends beyond my family and friends to include my employer and colleagues
at work. I think being able to go back to work is a huge part of being able to
feel normal again. It’s vital that employers understand how important the
support they provide to their employees with cancer is in helping them cope and
live with this disease”.
Peter O’Donnell, CEO of Unum says: “As we live and work
longer, the reality is that more and more of us will face a cancer diagnosis at
some point in our working lives. Employers play an important role in supporting
employees as they face the financial, emotional and professional obstacles a
cancer diagnosis can bring. Unum’s
enhanced critical Illness product and the unique Cancer Pathway provides quick
and easy access for employers and employees to cancer support upon diagnosis,
through treatment and recovery – whenever it is needed.”
Unum is a leading
employee benefits provider offering financial protection through the workplace
including: Income Protection, Life insurance, Critical Illness, and Dental
cover.
Our Income
Protection customers have access to medical and vocational rehabilitation expertise
designed to help people stay in work and return to work following illness and
injury. Unum LifeWorks, our Employee Assistance Programme, provides help and
advice on a range of work/life issues.
Our Critical
Illness customers can access our Cancer Support
Service, providing personalised support for employees with
a cancer diagnosis.
We are
committed to workplace wellbeing for both employees and employers. We have a
wide range of tools designed to help businesses create or enhance their
employee wellbeing strategy, including our Mental Health
Pathway and Wellbeing Calendar.
At the end of
2018, Unum protected 1.4 million people in the UK and paid claims of £314
million – representing in excess of £6 million a week in benefits to our
customers – providing security and peace of mind to individuals and their
families.
Our parent
company, Unum Group, is a provider of employee benefits products and services
in the United States, including group and individual disability insurance.
Premium income for Unum Group and its subsidiaries totalled $9.0bn in the year
ended 31 December 2018, with reported revenues for the group totalling $11.6bn
and total assets of $61.9bn.
A.M Best has
given all rated Unum Group companies an Excellent rating for Financial
Strength, with a stable outlook.
Unum Limited
is authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority. Unum
Dental is a trading name of Unum Limited. Registered in England 983768.
Unum is a leading employee benefits provider offering financial
protection through the workplace including: Income Protection, Life insurance,
Critical Illness, and Dental cover.
Our Income Protection customers have access to medical and vocational
rehabilitation expertise designed to help people stay in work and return to
work following illness and injury. Unum LifeWorks, our Employee Assistance
Programme, provides help and advice on a range of work/life issues.
Our Critical Illness customers can access our Cancer Support Service, providing personalised support for
employees with a cancer diagnosis.
We are committed to workplace wellbeing for both employees and
employers. We have a wide range of tools designed to help businesses create or
enhance their employee wellbeing strategy, including our Mental
Health Pathway and Wellbeing
Calendar.
At the end of 2018, Unum protected 1.4 million people in the UK and paid
claims of £314 million – representing in excess of £6 million a week in
benefits to our customers – providing security and peace of mind to individuals
and their families.
Our parent company, Unum Group, is a provider of employee benefits
products and services in the United States, including group and individual
disability insurance. Premium income for Unum Group and its subsidiaries
totalled $9.0bn in the year ended 31 December 2018, with reported revenues for
the group totalling $11.6bn and total assets of $61.9bn.
A.M Best has given all rated Unum Group companies an Excellent rating
for Financial Strength, with a stable outlook.
Unum Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Unum Dental is a trading name of Unum Limited. Registered in England 983768.
The schemes have risen in popularity over
recent years with those earning over £100k worse affected, new research finds
London, 6th November 2019 – Buy now pay later schemes are luring people into living beyond their means according to a recent survey by Hastee. Half of respondents said buy now pay later options encourage them to spend money they don’t have and this rises to 59% for millennial respondents (those aged 18-35).
Buy now pay
later schemes have become a popular interest bearing option where retailers
allow consumers to delay payments on their purchases for a specified period.
More than a quarter of respondents (27%) said they have experienced
difficulties after using buy now pay later schemes. The same percentage of
respondents said they have experienced problems after using payday loans which
have come under increased scrutiny in recent years, resulting in the Financial
Conduct Authority (FCA) stepping in to apply limits on daily borrowing.
Millennials
are the worst-hit age group when it comes to experiencing difficulties after
using buy now pay later schemes – over a third (36%) said this has been the
case. Financial stress has impacted their social lives (50%), relationships
(40%), health (39%) and work (38%).
The survey
revealed that workers across all salary bands agree that the schemes encourage
them to spend money they don’t have. The figure tends to rise in the higher
salary bands, highlighting that this issue is not exclusive to lower paid
workers:
Up to £20k salary: 45%
£20-30k salary: 49%
£30-40k salary: 52%
£40-50k salary: 43%
£50-27k salary: 50%
£75-100k salary: 59%
Over £100k salary: 77%
“Buy now
pay later schemes might seem an attractive option for consumers but they’re
proving to be as problematic as more traditional forms of credit,” says Hastee
CEO James
Herbert. “While they seem like a good short term solution, they can cause
consumers issues in the longer term. Missed payments can impact credit scores,
cause longer term debt problems and could create an unhealthy reliance on
credit cards and overdrafts as users struggle with repayments.
Our advice
for anyone tempted by one of these schemes is to make sure you’ve weighed up
the affordability of the purchase and explored all options before making any
commitments. If you can’t afford the repayments, consider whether you really
need the item or work out another way of paying for it that won’t cause you
long term financial difficulty. There are plenty of digital money management
tools that work together to help people live comfortably and within their
means, such as challenger banks, earnings on demand solutions and budgeting
apps.”
About Hastee
Hastee is
an award-winning employee benefit which empowers employees to receive
their earned pay immediately via our mobile app, increasing their choice and
financial wellbeing. Workers can choose to receive up to 50% of their gross pay
for the work they have completed; it is income smoothing of their earned pay,
not a loan. Companies may choose to restrict the availability for their staff
to below 50% should they wish/need. We do not charge interest, just a low and
simple fee (subscription and on-demand options).
Companies profit from the improved recruitment, retention, engagement and
productivity of their workforce. This is at no cost to the employer (unless
they wish to contribute as a paid benefit) and has no impact to company cash
flow (we fund the advances, with the company reimbursing us when they pay their
staff as normal). Giving access to earned pay only, Hastee is a meaningful
benefit that can be made available to all staff, including salaried, temporary,
variable and gig workers.
Additionally, we have now launched an employee financial education programme
in the form of a series of emails over a period of 7 weeks. Companies can
choose to include as many of their staff as they wish in this programme at no
cost, or leave to only those who register with our app. Related to this, we
have content available on the Financial Education Hub on our website and,
obviously, within the app.
UAE-India Economic Forum 2019 wraps up
the 5th edition gracefully.
Dubai, 5th November, 2019: The 5th Edition of UAE India
Economic Forum observed a grand opening at Waldorf Astoria, Dubai International
Financial Centre on Monday, 4th November with the participation of
High Dignitaries and Officials, leading experts and leaders from the two
nations.
India’s partnership with the UAE is
set to play a key role in its march towards the ambitious goal of becoming a
$5-trillion economy by 2022, Abdullah
Ahmed Al Saleh, Undersecretary for Foreign Trade and Industry, Ministry of
Economy, said on Monday.
Addressing the opening session of the UAE-India
Economic Forum organized by BusinessLive Middle East, Al Saleh said the strong
bilateral ties are the result of :the political will articulated by both
governments,” and their sustained efforts to work together for the mutual
benefit.
Al Saleh said the recent meeting of the UAE-India
High Level Joint Task Force on Investments, which is a platform to communicate
mutual requirements and vision for the future, has played a key role in
boosting bilateral investments and cooperation.
“With Expo 2020 around the corner, we will
witness India’s commitment with one of the largest pavilions, which is a
testament to the value the country puts to promoting bilateral economic
relations,” he said.
Al Saleh said the UAE is the largest Arab investor
country in India, accounting for 81.2 per cent of total Arab investments. The
UAE investments into India’s $2.8 trillion economy are estimated to be around
$10 billion including foreign direct investment of almost $5 billion.
“The UAE hosts the largest Indian community
overseas and their annual remittances are estimated to be more than $17
billion, which is 38 per cent of the total outflow,” he said.
“As both countries remain keen as ever to
strengthen the trade dialogue, recently, an ambitious project – the India -UAE
food corridor – was launched with the plan to benefit two million farmers and
create an additional 200,000 jobs across India, due to cumulative investments
of more than $7 billion by the UAE in the next three years,” said Al
Saleh.
Among the dignitaries present at the day-longs
sessions were Vipul, Consul General of
India in Dubai; Fahad Al Gergawi; Chief Executive Officer; Dubai FDI; and Jamal
Al Jarwan; Secretary-General; UAE International Investors Council; and Ali Ibrahim;
Deputy Director-General; Dubai Economic Development, according to Poonam
Chawla, Associate Publisher, BusinessLive Middle East.
Poonam Chawla said the UAE-India Economic Forum 2019
was a great success as it highlighted the areas of cooperation between the UAE
and India. “It helped to throw light on how this historic bilateral
relationship has been elevated to a strategic partnership while creating new
opportunities in various fields like IT, trade, food, smart cities, banking and
fin-techs, renewable energy and startups,” Poonam said.
According to the UN Conference on Trade and Development, the FDI to the UAE rose by eight per cent to $10.4 billion in part due to rising cross-border mergers and acquisitions sales, making the country the largest source of FDI in 2017 for the Arab region (at 36 per cent of total FDI inflow). India is UAE’s second-largest trade partner today and the UAE has become India’s third-largest trading partner, with the total non-oil trade between the two countries recorded at $35.9 billion in 2018.
A special mention to the UAE-India Economic Forum
2019 sponsors “Ajman Free Zone” and “Galadari Advocates and Legal Consultants”.
In the 5th
Edition of the UIEF delegates brainstormed on new opportunities for
partnerships with sessions on infrastructure, banking and finance, fin-tech,
healthcare, food corridors, smart cities and start-ups. The UAE-India Economic
Forum also felicitated government and industry leaders, who have worked towards
nurturing ties between the two nations, with the Qadat Al Tagheer Awards.
Volvo
Buses has received the largest single order for electric buses in Europe. Volvo
Buses will deliver 157 electric articulated buses to Transdev starting in 2020.
The buses will operate on a number of routes in Gothenburg. With their
introduction, emissions and noise will be significantly reduced, and the
electric buses will be able to operate in sensitive areas or zones with special
restrictions.
“It is
immensely gratifying that we have secured Europe’s largest ever single order
for electric buses – no less than 157 buses. Volvo is a pioneer in
electromobility and sustainable public transport. We have a holistic system
perspective for cities that encompasses vehicles, services and charging
infrastructure. We focus on solutions that offer high reliability and high
service levels for route operators and passengers. This large order confirms
that electric buses are already recognised as a sustainable and financially
viable solution for demanding high-capacity public transport needs,” says Håkan
Agnevall, President of Volvo
Buses.
“Transdev is
today Europe’s leading operator of electric buses and we know what challenges
there are with the transition to electric propulsion. We’ve therefore been
extremely thorough in choosing a partner with a holistic approach, a partner
that will be able to deliver both buses and charging infrastructure on time and
with excellent uptime. Being able to announce that we have chosen Volvo as our
partner for city bus operations in Volvo’s home city of Gothenburg is of course
particularly satisfying,” says Gunnar Schön, CEO of Transdev
Sweden.
All of the
buses will be of the recently launched 7900
Volvo Electric Articulated model. The Volvo Electric Articulated can carry
150 passengers with an energy consumption that is 80 per cent lower than that
of a corresponding diesel bus. The Volvo Electric Articulated combines high
passenger capacity with low operating costs. The buses will be charged at
quick-charge stations along the route, using the industry common charging
interface OppChargeTM, in order to ensure the most efficient operation
possible. In addition to the electric buses, the order includes 27 Euro VI
buses for regional operations, running on biodiesel.
“For us as a
mobility supplier, it is vital to always be able to offer passengers good
service and functional vehicles, but it is also important that our drivers have
a good working climate. New buses, in particular quiet electric buses, not only
result in cleaner cities – they also improve the everyday working environment,”
explains Gunnar Schön.
“Electromobility
creates new exiting opportunities for urban planning since we now get
emission-free and quiet public transport that can operate closer to the city’s
residents. Volvo aims to be a leader
in increased electrification and to be a partner for cities that wish to
implement long-term sustainable public transport solutions for their
inhabitants,” concludes Håkan Agnevall.
Gothenburg,
November 5, 2019 For further
information, please contact: Joakim Kenndal, Manager Media
Relations, Volvo Bus Corporation,
Phone +46 739-02 51 50 or
e-mail joakim.kenndal@volvo.com
Investment from IW Capital to drive rapid commercialisation of world’s first lipid formulated ibuprofen
Flarin Holdings Limited today announces the completion of its first round of fund-raising by IW Capital. Flarin Holdings was recently demerged from Infirst Healthcare Limited in order to provide greater focus on the rapid commercialisation of Flarin.
Flarin is a unique and patent protected lipid formulated ibuprofen which at a dose of 1200 mg/day has shown to be as effective as 2400mg/day of standard liquid ibuprofen capsules in patients with acute joint pain 1. Flarin’s unique lipid formulation also helps to shield the stomach from damage 2.
“The very positive response we have had from presenting Flarin to new investors has given us great confidence in taking Flarin to the next stage of its commercial development,” says Andrew Macmillen, Managing Director. “These new funds give Flarin greater ability to increase investment in marketing in the UK as well as building a network of distributors and licensing partners in other countries.”
Luke Davis, IW Capital chief executive, said:
“We are hugely excited to be involved with this innovative pharmaceutical product at an early stage in its commercial development. It is also key to be able to work with such an experienced management team in the pharmaceutical and healthcare arena.
“Our research shows that around 20% of private investors are looking to invest within Pharma and Biotech while half of this group is put off by Big Pharma. With this in mind we were not surprised that the initial investment target for Flarin was over-subscribed by IW capital’s network of net-worth individuals and independent financial advisors.
There is a fantastic exit opportunity here with the product already fully developed and on sale in UK pharmacies, meaning there is already an established sales infrastructure in place.”
If you have any questions about the release or would like to speak to Luke please don’t hesitate to get in touch.
About Flarin Holdings Flarin Holdings is a new company demerged from Infirst Healthcare Limited in order to focus on commercialising Flarin’s unique lipid formulation of ibuprofen.
About Flarin Lipid Formulation Technology Flarin is a unique and patent protected lipid formulated ibuprofen which at a dose of 1200 mg/day has shown to be as effective as 2400mg/day of standard liquid ibuprofen capsules in patients with acute joint pain1. Flarin’s unique lipid formulation also helps to shield the stomach from damage2.
About IW Capital IW Capital is a leading SME investment provider specialising in private equity and debt financing, having facilitated well over c.£100m in development capital investment in UK companies.
Over a third of CFOs see big data as a
threat to employment
Marieke Saeij
London, 05 November 2019 –
Almost two-thirds (64%) of CFOs expect that within the next five years the
financial world will no longer be able to operate without big data, however,
13% of CFOs think this is already the case. Currently, financial directors are
mainly using big data to make well-informed decisions (54%), to make predictive
analyses (41%) and to analyse large, unstructured databases (29%). Almost
one-fifth of CFOs (18%) do not use big data at all, according to the results of
the 2019 FinTech Barometer, an annual survey conducted by order-to-cash
specialist Onguard.
Impact
on employment
More
than a third of CFOs (38%) expect big data to have a significant impact within
the financial sector, particularly on aspects such as job opportunities, with
36% of CFOs seeing big data as a threat to employment. Trends such as
robotisation and Artificial Intelligence (AI) are also on the radar of
financial directors, with 42% of CFOs expecting AI to have a major impact on
employment opportunities and 30% of CFOs seeing robotisation as the biggest
threat to jobs.
Marieke Saeij, CEO, Onguard: “I’m not surprised that CFOs expect to be completely dependent on big data within such a short timeframe. Big data can help them, as well as finance professionals within their organisations, with the execution of their work. Finance professionals have a great deal of information from both internal and external sources that is of added value for both the performance of the organisation and customer service. The more information that is available about the market and customers, the better finance professionals can advise customers. Thanks to big data, risks can be assessed more accurately and it is also possible to predict in real-time whether and when customers will start paying so as an organisation, you can properly anticipate this. This development will require finance professionals to develop new skills, such as greater analytical capacity, as a necessity.”
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Recent leaks claiming that the Vatican would be facing bankruptcy added to the statements made by the investigative author Gianluigi Nuzzi in his just-published book “Giudizio Universale”, have caused a stir in Rome despite the denials of two leading bishops.
In the book “Giudizio Universale” (Universal Judgement), Italian journalist Gianluigi Nuzzi exposed unpublished documents about the deteriorated Vatican’s financial situation. The author ensures that financial and real estate assets mismanagement, along with a notorious decrease in donations, are the main reason why the Vatican is facing bankruptcy.
Dramatic loss
According to the book published last October 21, last
year, the Holy See lost 44 million euros. Nuzzi claims that at the edge of
bankruptcy, the measures the Pope has been taking are not enough. The situation
is so severe that last year, the Church decided to sell families’ jewellery such
as the property “Santa María de Galería,” 424 hectares on the
outskirts of Rome.
Decline of donations
The data presented in the book shows that the
contributions to the Church, known as “Obolo de San Pedro,” have been
reduced by half in a decade (from 101 million in 2006 to 51 in 2008). Because
of the crisis, 58% of the received amount serves to clean up accounts, and only
20% remain as a deposit. As Nuzzi explained, the result is that of each ten
euros, only two end up serving the purpose of helping those in need.
A surprising fact the journalist and author describes
is the origin of the donations: dioceses are the first source, foundations come
in second place, and private donors come just in third place. Italy and Germany
are the most prominent supporters with more than 1.5 million euros each; their
support decreased by more than 20%.
The official response
The head of the Administration of the Patrimony of the
Apostolic See (APSA), Bishop Nunzio Galantino, promptly denied that the
finances of the Holy See were about to go bankrupt. “There’s no bankruptcy
or default here. There’s only a need for a spending review,” Galantino
insisted. “The ordinary management of the APSA in 2018 closed with a
profit of over 22 million,” he expressed to the “Vatican
News.”
Regarding the properties managed by the APSA and the
accusations of mismanagement, Galantino explained that they include 2,400
apartments located mostly in Rome and Castel Gandolfo plus another 600 shops
and offices.
In response to
Nuzzi’s statement that 40% of the patrimony doesn’t grant income, Galantino
explained that those not generating revenue are service apartments or offices
of the Curia. He also told that about 60% of the apartments are rented for
reduced rent, to employees in need.
He considered
this a kind of social housing, something that, when done by private companies,
is praised, but when it’s the Vatican doing it, it is considered
incompetent.
“There is no threat of collapse or default
here. There is only the need for a spending review. And that is what we’re
doing. I can prove it to you with numbers,” Galantino said on October 22.
Is the Vatican facing
bankruptcy or not?
This is something that only time will reveal. So far, the bells of broke seem to be tolling despite the official statements.
