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Uberall raises $115M, Signs Agreement to Acquire MomentFeed

Combination Creates New Global Leader for ‘Near Me’ Customer Experience Solutions.

LOS ANGELES and BERLIN, June 15, 2021 (GLOBE NEWSWIRE) — Uberall, a global leader in ‘Near Me’ Marketing SaaS solutions announced today it received a capital investment of $115 million led by Bregal Milestone, Level Equity, United Internet and Uberall management, which will be deployed to accelerate growth in the U.S. and Canada.

As part of its growth strategy Uberall is simultaneously announcing it has signed a definitive agreement to acquire MomentFeed, the leading provider of Proximity Search Optimization in North America. Together Uberall and MomentFeed create a new, more powerful ‘Near Me’ Customer Experience platform with unsurpassed capabilities and global reach. The combined company will manage the online presence of 1.35 million business locations, more than any other current competitor. MomentFeed and Uberall count many of the world’s largest and most recognizable multi-location brands as their customers, including BP, KFC, Marks and Spencer, McDonald’s and Pizza Hut.

“As consumers re-emerge from a year or more of lockdowns, businesses are rebounding, and they must be able to match growing consumer demands to receive the in-store experiences and services they expect,” said Florian Hübner, co-founder and CEO of Uberall. “The combination of Uberall and MomentFeed helps us become the clear category leader with more innovative products, a world-class team, and the financial resources to fully deliver on the opportunity.”

Uberall and MomentFeed are long-time business partners with a similar vision and complementary product suite. The combined platform will bring together Uberall’s market-leading listings and reputation management products, as well as first-to-market features like Google local ads, and combine them with MomentFeed’s best-in-class local social capabilities, customer sentiment analysis and enterprise-grade service offering.

“As we saw the market trending towards consolidation, we considered several potential companies to merge with. Uberall was by far our most preferred,” said MomentFeed CEO Nick Hedges. “This combination makes enormous strategic sense for our customers, who represent the who’s-who of leading U.S. omni channel brands. It helps accelerate our already rapid pace of innovation, giving customers an even greater edge in the hyper-competitive world of ’Near Me’ Marketing.”

MomentFeed CEO Nick Hedges will join Uberall’s executive leadership team as Chief Strategy Officer and Executive Vice President North America, leading Uberall’s North American business unit which will have a significant sales, service and engineering footprint in California.

“We are thrilled to partner with the Uberall team for this next phase of growth. Our strategic investment will significantly accelerate Uberall’s ambition to become the leading ‘Near Me’ Customer Experience platform worldwide. Uberall’s differentiated full-suite solution is unsurpassed by competition in terms of integration and functionality, providing customers with a real edge to reach, interact with, and convert online customers. We look forward to supporting Florian, Nick and their talented team to deliver on their exciting innovation and expansion roadmap.” said Cyrus Shey, Managing Partner of Bregal Milestone.

About Uberall

Uberall empowers the world’s biggest brands to deliver a memorable ‘Near Me’ Customer Experience — from online interactions to offline sales.

As today’s consumers expect an omnichannel experience, they do not distinguish between online and offline anymore. Thus, the ‘Near Me’ customer journey consists of all the touchpoints that a consumer has with the local outlets of a brand: from finding, persuading, buying and recommending, to returning as a regular customer. Uberall’s platform enables businesses to bridge the gap between these touchpoints and facilitates a seamless customer experience that evokes positive emotions and customer satisfaction.

Uberall, founded in 2013 and headquartered in Berlin, Germany, has offices in 6 countries with close to 300 employees. Uberall currently services over 1,600 multi-location customers across 170 countries.

For further information visit www.uberall.com | LinkedIn | YouTube | Facebook | Twitter

About MomentFeed

MomentFeed is the leading Proximity Search Optimization platform trusted by many of the largest multi-location brands in the restaurant, retail, automotive, hospitality, and financial services industries. Proximity Search Optimization is gaining significant interest from CMOs of multi-location, national brands and franchises as a way to show up locally, at the precise moment a customer has a need. MomentFeed makes it possible for national brands to execute hyperlocal marketing campaigns at scale – driving local awareness, in-store traffic, and more calls for appointments and orders.

Founded in 2010, MomentFeed is headquartered in Santa Monica, California. An Inc 5000 Fastest Growing Privately Held Company, it was also named a Comparably Best Company.

For more information visit www.momentfeed.com | Twitter | LinkedIn | Facebook

Contact:
Adam Brett
516.320.0164
adam@crenshawcomm.com

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J.P. Morgan Securities PLC: Pre-stabilisation Period Announcement

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

DAE Funding LLC

Pre-stabilisation Period Announcement

LONDON, June 15, 2021 (GLOBE NEWSWIRE) — J.P. Morgan Securities plc, (contact: Emma Lovett 0207 134 2468) hereby gives notice, as Stabilisation Coordinator, that the Stabilising Manager(s) named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation EU/xxx/2016 under the Market Abuse Regulation (EU/596/2016).

The securities:
Issuer: DAE Funding LLC
Guarantor (if any): N/A
Aggregate nominal amount: USD Benchmark
Description: USD 3yr Senior Unsecured  REG S/144A  Notes

Listing: Nasdaq Dubai
Offer price: TBC
Other offer terms: Denoms: USD 200,000 x USD 1,000
Stabilisation:
Stabilisation Manager(s): J.P. Morgan Securities plc (Stabilisation coordinator)
Credit Agricole CIB (Stabilisation Manager(s))
BNP Paribas SA (Stabilisation Manager(s))
Emirates NBD capital (Stabilisation Manager(s))
Truist Securities (Stabilisation Manager(s))
Stabilisation period expected to start on: 15 June 21
Stabilisation period expected to end no later than: 15 July 21
Existence, maximum size and conditions of use of over–allotment facility: The Stabilisation Manager(s) may over-allot the securities in an amount not exceeding 5% of the aggregate nominal amount stated above.
Stabilisation trading venue: Over the counter, TBC

In connection with the offer of the above securities, the Stabilising Manager(s), or persons acting on behalf of the Stabilising Manager(s) may over-allot the securities, provided that the aggregate principal amount of the securities allotted does not exceed 105 percent of the aggregate principal amount of the securities, or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur and any stabilisation action, if begun, may cease at any time, but it must end no later than the earlier of 30 days after the issue date of the securities and 60 days after the date of allotment of the securities.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement and the offer of the securities to which it relates are only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within Article 12(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and must not be acted on or relied on by other persons in the United Kingdom.

In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the “Prospectus Directive”) before the publication of a prospectus in relation to the securities which has been approved by the competent authority in that Member State in accordance with the Prospectus Directive (or which has been approved by a competent authority in another Member State and notified to the competent authority in that Member State in accordance with the Prospectus Directive), this announcement and the offer are only addressed to and directed at persons in that Member State who are qualified investors within the meaning of the Prospectus Directive (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in that in that Member State

This announcement is not an offer of securities for sale into the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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Africa MENA Pakistan Press Releases South Africa

LeddarTech Makes a Welcome Return to In-Person Events as a Lead Sponsor and Exhibitor at Tech.AD 2021 in Berlin, Germany

The Westfield AutoSweep POD

Westfield’s AutoSweep POD, the UK’s first fully autonomous pure electric road sweeper, featuring LeddarTech’s Leddar Pixell.

LeddarTech joins Tech.AD Europe as the Lead Sponsor and as both a presenter and exhibitor at this live event at the Titanic Chaussee Berlin, Germany, on July 1-2, 2021. Join LeddarTech either in person or digitally by registering today at autonomous-driving-berlin.com.

QUEBEC CITY, June 15, 2021 (GLOBE NEWSWIRE) — LeddarTech®, a global leader in Level 1-5 ADAS and AD sensing technology, is excited to be reigniting its physical event calendar as a lead sponsor and keynote speaker of Tech.AD. Tech.AD has long been recognized as one of Europe’s leading technical ADAS and AD conferences. LeddarTech’s CTO Pierre Olivier will serve on the honorary jury for the 8th Annual Tech.AD Europe Awards. These awards honor individuals and organizations who have designed exceptional solutions or products that contribute to ADAS/AD automotive development.

With a focus on environmental sensing that reimagines ADAS and AD solutions, the LeddarTech team will be participating in several capacities at this event.

Keynote presentation: July 1, 2021, 4:45 p.m. – 5:05 p.m. CET

Topic: Sensing Modalities, Sensor Fusion, and Perception for Autonomous Driving. The speaker, Pierre Olivier, Chief Technology Officer of LeddarTech, will explore the challenges and exciting opportunities facing the ADAS and AD business community.

World Café session: July 2, 2021, 1:15 p.m. – 3:35 p.m. CET

Topic: Sensor Café – Object Fusion vs. Raw Sensor Fusion – What Is the Superior Solution? Moderators: Reza Rashidi Far, PhD, and André Malz, PhD, of LeddarTech’s Strategic Product Management division.

Exhibition booth (6): July 1-2, 2021.

LeddarTech will feature solutions that solve critical sensing and perception challenges across the automotive and mobility value chain. LeddarTech will present these solutions through an innovative approach of on-site and live-streaming demonstrations of:

  • Mobility and ITS sensors, including the recently released Leddar™ Sight LiDAR and the award-winning Leddar™ Pixell;
  • LeddarVision™, a sensor-fusion and perception solution that delivers highly accurate 3D environmental models for L1-5 autonomy;
  • Special Feature: the Westfield AutoSweep, the UK’s first fully autonomous pure electric road sweeper, featuring the Leddar Pixell.
The Westfield AutoSweep POD

Westfield’s AutoSweep POD, the UK’s first fully autonomous pure electric road sweeper, featuring LeddarTech’s Leddar Pixell.

“Our technical teams from Israel, Germany, and Italy are excited to be joining our esteemed colleagues, peers, and partners at Tech.AD. Our much-anticipated return to in-person events is especially significant as we will be showcasing our customer Westfield’s autonomous AutoSweep POD, which features the Leddar Pixell,” stated Daniel Aitken, Vice-President, Global Marketing, Communications, and Product Management at LeddarTech. “Tech.AD provides an excellent opportunity to engage with many leaders in the industry both virtually and in person, and we look forward to demonstrating our latest technology, sharing our vision, and engaging with our customers,” Mr. Aitken continued. “Tech.AD is making all efforts to implement precautions to ensure a safe and fulfilling event for all delegates, and I welcome you to visit us in person or online during the event in July,” concluded Mr. Aitken.

For more information about Tech.AD, visit autonomous-driving-berlin.com.

Prior to Tech.AD register for the Automotive IQ Webinar: June 29, 2021, 11:00 a.m. – 12:00 p.m. ET

Topic: A Clean Sweep: How Adopting Autonomous Vehicle and EV Technology Is Paving the Way to Increased Road Sweeper Efficiency and Safety While Reducing Environmental Impact. Join Pierre Olivier, CTO of LeddarTech and Julian Turner, CEO of Westfield Technology Group, for this Automotive IQ hosted event.

Register here.

About LeddarTech

LeddarTech is a leader in environmental sensing platforms for autonomous vehicles and advanced driver assistance systems. Founded in 2007, LeddarTech has evolved to become a comprehensive end-to-end environmental sensing company by enabling customers to solve critical sensing and perception challenges across the entire value chain of the automotive and mobility market segments. With its LeddarVision™ sensor-fusion and perception platform and its cost-effective, scalable, and versatile LiDAR development solution for automotive-grade solid-state LiDARs based on the LeddarEngine™, LeddarTech enables Tier 1-2 automotive system integrators to develop full-stack sensing solutions for autonomy level 1 to 5. These solutions are actively deployed in autonomous shuttles, trucks, buses, delivery vehicles, smart cities/factories, and robotaxi applications. The company is responsible for several innovations in cutting-edge automotive and mobility remote-sensing applications, with over 95 patented technologies (granted or pending) enhancing ADAS and autonomous driving capabilities.

Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter, Facebook, and YouTube.

Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications, and Product Management, LeddarTech Inc.
Tel.: + 1-418-653-9000 ext. 232
daniel.aitken@leddartech.com

Leddar, LeddarTech, LeddarSteer, LeddarEngine, LeddarVision, LeddarSP, LeddarCore, VAYADrive, VayaVision, and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/2f336faf-ccca-4167-939e-c1dfcfc4c897

https://www.globenewswire.com/NewsRoom/AttachmentNg/84aebadf-f893-466e-8144-9b31e4d79c26

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MENA Pakistan Press Releases

GBT’s Voxelotor is First Sickle Cell Disease Treatment to Receive Promising Innovative Medicine (PIM) Designation in the UK

SOUTH SAN FRANCISCO, Calif. and LONDON, June 14, 2021 (GLOBE NEWSWIRE) — Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT), a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments for underserved patient communities, announced today that the Medicines and Healthcare Products Regulatory Agency (MHRA) in the United Kingdom has granted a Promising Innovative Medicine (PIM) designation for voxelotor for the potential treatment of hemolytic anemia in adults and adolescent patients 12 years of age and older with sickle cell disease (SCD).

Following a review by the MHRA, PIM designations are given to promising treatments that are likely to offer a major advantage for patients and are an early indication that the treatment is a promising candidate for the Early Access to Medicines Scheme (EAMS). For the MHRA to grant a PIM designation, the product must meet each of the following three criteria:

  • The condition should be life-threatening or seriously debilitating with high unmet need, meaning there is no method of treatment, diagnosis or prevention available, or existing methods have serious limitations.
  • The medicinal product is likely to offer major advantage over methods currently used in the UK, based on both non-clinical and clinical data.
  • The potential adverse effects of the medicinal product are likely to be outweighed by the benefits, allowing for the reasonable expectation of a positive benefit risk balance.1

SCD is a rare genetic condition which affects approximately 15,000 people in the UK2 and 52,000 people across Europe.3 It has a devastating impact on the lives of those it affects and their families, including serious and life-threatening complications that can lead to organ damage and early death. Despite SCD being the first genetic disease to be examined at a molecular level,4 there remains a lack of urgency to treat SCD, which traditionally affects the African and Caribbean community, and healthcare disparities based on race persist.

“The sickle cell disease community, which for decades has been dramatically underserved, deserves innovative treatments that address the underlying cause of this debilitating disease,” said Nigel Nicholls, UK general manager of GBT. “Voxelotor is the first SCD treatment to receive the PIM designation, and this is a significant milestone in our efforts to potentially make this therapy available in the UK. This is an important step forward on our journey, and we remain committed to developing novel treatments with the hope of transforming the lives of those living with SCD.”

A first-in-class oral, once-daily therapy, voxelotor directly inhibits hemoglobin S polymerization, the root cause of the sickling and destruction of red blood cells in SCD. The sickling process causes hemolytic anemia (low hemoglobin due to red blood cell destruction), which impairs adequate oxygen delivery to the tissues and organs in the body.

Voxelotor is approved in the United States under the trade name Oxbryta® for the treatment of SCD in patients ages 12 years and older. GBT previously announced its plans to seek regulatory approval from the European Medicines Agency (EMA) for voxelotor in the treatment of hemolytic anemia in SCD patients ages 12 years and older.

Prior to potential marketing authorization, GBT initiated an early access program for voxelotor in Europe and other regions outside the United States, which enables physicians to use early access regulatory and legal pathways to request voxelotor for the treatment of hemolytic anemia in eligible patients with SCD who do not have access to the medicine as part of a clinical trial. If approved for EAMS, the voxelotor early access program would be further extended to eligible UK patients.

About Sickle Cell Disease
SCD is a rare genetic condition which affects approximately 15,000 people in the UK2, an estimated 52,000 people in Europe,3 and millions of people throughout the world, particularly among those whose ancestors are from sub-Saharan Africa.5 It also affects people of Hispanic, South Asian, Southern European and Middle Eastern ancestry.5 SCD is a lifelong inherited rare blood disorder that impacts hemoglobin, a protein carried by red blood cells that delivers oxygen to tissues and organs throughout the body.6 Due to a genetic mutation, individuals with SCD form abnormal hemoglobin known as sickle hemoglobin. Through a process called hemoglobin polymerization, red blood cells become sickled – deoxygenated, crescent-shaped and rigid.6–8 The sickling process causes hemolytic anemia (low hemoglobin due to red blood cell destruction) and blockages in capillaries and small blood vessels, which impede the flow of blood and oxygen throughout the body. The diminished oxygen delivery to tissues and organs can lead to life-threatening complications, including stroke and irreversible organ damage.7–10

About Oxbryta® (voxelotor) Tablets
Oxbryta (voxelotor) is an oral, once-daily therapy for patients with sickle cell disease (SCD). Oxbryta works by increasing hemoglobin’s affinity for oxygen. Since oxygenated sickle hemoglobin does not polymerize, GBT believes Oxbryta blocks polymerization and the resultant sickling and destruction of red blood cells, which are primary pathologies faced by every single person living with SCD. Through addressing hemolytic anemia and improving oxygen delivery throughout the body, GBT believes that Oxbryta has the potential to modify the course of SCD. On Nov. 25, 2019, Oxbryta received U.S. Food and Drug Administration (FDA) accelerated approval for the treatment of SCD in adults and children 12 years of age and older.11

As a condition of accelerated approval, GBT will continue to study Oxbryta in the HOPE-KIDS 2 Study, a post-approval confirmatory study using transcranial Doppler (TCD) flow velocity to assess the ability of the therapy to decrease stroke risk in children 2 to 15 years of age.

In recognition of the critical need for new SCD treatments, the FDA granted Oxbryta Breakthrough Therapy, Fast Track, Orphan Drug and Rare Pediatric Disease designations for the treatment of patients with SCD. Additionally, Oxbryta has been granted Priority Medicines (PRIME) designation from the European Medicines Agency (EMA), and the European Commission (EC) has designated Oxbryta as an orphan medicinal product for the treatment of patients with SCD. Oxbryta was granted Promising Innovative Medicine (PIM) designation in Great Britain from the Medicines and Healthcare Products Regulatory Agency (MHRA).

The EMA has accepted for review GBT’s Marketing Authorization Application (MAA) seeking full marketing authorization of Oxbryta in Europe to treat hemolytic anemia in SCD patients ages 12 years and older. GBT also plans to seek regulatory approval to expand the potential use of Oxbryta in the United States for the treatment of SCD in children as young as 4 years old.

Important Safety Information
Oxbryta should not be taken if the patient has had an allergic reaction to voxelotor or any of the ingredients in Oxbryta. See the end of the patient leaflet for a list of the ingredients in Oxbryta. Oxbryta can cause serious side effects, including serious allergic reactions. Patients should tell their health care provider or get emergency medical help right away if they get rash, hives, shortness of breath or swelling of the face.

Patients receiving exchange transfusions should talk to their health care provider about possible difficulties with the interpretation of certain blood tests when taking Oxbryta.

The most common side effects of Oxbryta include headache, diarrhea, stomach (abdominal) pain, nausea, tiredness, rash and fever. These are not all the possible side effects of Oxbryta.

Before taking Oxbryta, patients should tell their health care provider about all medical conditions, including if they have liver problems; if they are pregnant or plan to become pregnant as it is not known if Oxbryta can harm an unborn baby; or if they are breastfeeding or plan to breastfeed as it is not known if Oxbryta can pass into breastmilk or if it can harm a baby. Patients should not breastfeed during treatment with Oxbryta and for at least two weeks after the last dose.

Patients should tell their health care provider about all the medicines they take, including prescription and over-the-counter medicines, vitamins and herbal supplements. Some medicines may affect how Oxbryta works. Oxbryta may also affect how other medicines work.

Patients are advised to call their doctor for medical advice about side effects. Side effects can be reported to the FDA at 1-800-FDA-1088. Side effects can also be reported to Global Blood Therapeutics at 1-833-428-4968 (1-833-GBT-4YOU).

About Global Blood Therapeutics
Global Blood Therapeutics (GBT) is a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments that provide hope to underserved patient communities. Founded in 2011, GBT is delivering on its goal to transform the treatment and care of sickle cell disease (SCD), a lifelong, devastating inherited blood disorder. The company has introduced Oxbryta® (voxelotor) in the United States, the first FDA-approved treatment that directly inhibits sickle hemoglobin polymerization, the root cause of red blood cell sickling in SCD. GBT is also advancing its pipeline program in SCD with inclacumab, a P-selectin inhibitor in development to address pain crises associated with the disease, and GBT021601 (GBT601), the company’s next- generation hemoglobin S polymerization inhibitor. In addition, GBT’s drug discovery teams are working on new targets to develop the next wave of treatments for SCD. To learn more, please visit www.gbt.com and follow the company on Twitter @GBT_news.

Forward-Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including statements containing the words “will,” “anticipates,” “plans,” “believes,” “forecast,” “estimates,” “expects” and “intends,” or similar expressions. These forward-looking statements are based on GBT’s current expectations and actual results could differ materially. Statements in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. GBT intends these forward-looking statements, including statements regarding GBT’s priorities, dedication, commitment, focus, goals, mission and vision; safety, efficacy and mechanism of action of Oxbryta (or voxelotor) and other product characteristics; significance of reducing sickling and hemolysis and raising hemoglobin; commercialization, delivery, availability, use and commercial and medical potential of Oxbryta; significance of voxelotor’s designation as a PIM; ongoing and planned studies and related protocols, activities and expectations; regulatory submissions, review and approval to potentially expand the approved use of Oxbryta for more patients in the U.S. and to treat patients in Europe; the early access program for voxelotor, including the framework, availability, use and impact; altering the treatment, course and care of SCD, mitigating related complications and transforming the lives of people with SCD; potential and advancement of GBT’s pipeline, including inclacumab and other product candidates; and working on new targets and discovering, developing and delivering treatments, to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and GBT makes this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect GBT’s current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the company and on assumptions the company has made. GBT can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved, and, furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond GBT’s control, including, without limitation, risks and uncertainties relating to the COVID-19 pandemic, including the extent and duration of the impact on GBT’s business, including commercialization activities, regulatory efforts, research and development, corporate development activities and operating results, which will depend on future developments that are highly uncertain and cannot be accurately predicted, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the U.S. and in other countries, and the effectiveness of actions taken globally to contain and treat the disease; the risks that GBT is continuing to establish its commercialization capabilities and may not be able to successfully commercialize Oxbryta; risks associated with GBT’s dependence on third parties for development, manufacture, distribution and commercialization activities related to Oxbryta; government and third-party payor actions, including those relating to reimbursement and pricing; risks and uncertainties relating to competitive products and other changes that may limit demand for Oxbryta; the risks regulatory authorities may require additional studies or data to support continued commercialization of Oxbryta; the risks that drug-related adverse events may be observed during commercialization or clinical development; data and results may not meet regulatory requirements or otherwise be sufficient for further development, regulatory review or approval; compliance with obligations under the Pharmakon loan; and the timing and progress of activities under GBT’s collaborative, license and distribution agreements; along with those risks set forth in GBT’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in GBT’s most recent Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission, as well as discussions of potential risks, uncertainties and other important factors in GBT’s subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, GBT assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise

References

  1. ABPI. Early Access to Medicines Scheme. https://www.abpi.org.uk/media/1329/early_access_to_medicines_scheme.pdf. Accessed June 1, 2021.
  2. Sickle Cell Society. About Sickle Cell. https://www.sicklecellsociety.org/about-sickle-cell/. Accessed June 1, 2021.
  3. European Medicines Agency. https://www.ema.europa.eu/en/medicines/human/orphan-designations/eu3182125. Accessed June 12, 2020.
  4. Smith, T. First molecular explanation of disease. Nat Struct Mol Biol. 1999:307(6)
  5. Centers for Disease Control and Prevention website. Sickle Cell Disease (SCD). https://www.cdc.gov/ncbddd/sicklecell/data.html. Accessed June 3, 2019.
  6. National Heart, Lung, and Blood Institute website. Sickle Cell Disease. https://www.nhlbi.nih.gov/health-topics/sickle-cell-disease. Accessed August 5, 2019.
  7. Rees DC, et al. Lancet. 2010;376(9757):2018-2031.
  8. Kato GJ, et al. Nat Rev Dis Primers. 2018;4:18010.
  9. Kato GJ, et al. J Clin Invest. 2017;127(3):750-760.
  10. Caboot JB, et al. Paediatr Respir Rev. 2014;15(1):17-23.
  11. Oxbryta (voxelotor) tablets prescribing information. South San Francisco, Calif. Global Blood Therapeutics, Inc.; November 2019.

Contact:

Steven Immergut (media)
650-410-3258
simmergut@gbt.com

Courtney Roberts (investors)
650-351-7881
croberts@gbt.com

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MENA Pakistan Press Releases

Nyxoah Issues First Quarter 2021 Results

Mont-Saint-Guibert, Belgium – June 10, 2021, 11:45pm CET / 5:45pm ET – Nyxoah SA (Euronext Brussels: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced its unaudited, interim financial statements for the three months ended March 31, 2021.  In addition, Mr. Janke Dittmer has informed the Company that he will resign from his position as director immediately prior to and contingent upon the completion of an initial public offering in the United States.

First Quarter 2021 Results

  For the three month period ended March 31
(in thousands of EUR) 2021 2020
Revenue                                     185                      —
Cost of goods sold                            (52) —
Gross Profit                                     133                  —
General and administrative expenses (1,818) (1,178)
Research and development expenses (852) (7)
Clinical expenses (342) (177)
Manufacturing expenses (901) (62)
Quality assurance and regulatory expenses (325) (25)
Patents Fees & Related (674) (58)
Therapy Development expenses (548) (352)
Other operating income/(expenses) 4 (191)
Operating loss for the period                              (5,323)               (2,050)
Financial income 4 19
Financial expense (325) (336)
Loss for the period before taxes                           (5,644)               (2,367)
Income Taxes (25) (13)
Loss for the period                           (5,669)               (2,380)
Other comprehensive loss    
Items that may be subsequently reclassified to profit or loss (net of tax)    
Currency translation differences (70) 272
Total comprehensive loss for the year, net of tax                            (5,739)               (2,108)
Loss attributable to equity holders                           (5,739)               (2,108)

Revenue

Revenue was €185,000 for the three months ended March 31, 2021, compared to no revenue for the three months ended March 31, 2020. The increase in revenue was attributable to the Company’s commercialization of the Genio® system in Europe, which began in July 2020.

Cost of Goods Sold

Cost of goods sold was €52,000 for the three months ended March 31, 2021, compared to no cost for the three months ended March 31, 2020. The increase in cost of goods sold was attributable to the sales of the Genio® system in Europe, which began in July 2020.

General and Administrative Expenses. General and administrative expenses increased by €0.6 million, or 54%, from €1.2 million for the three months ended March 31, 2020 to €1.8 million for the three-months ended March 31, 2021 mainly due to an increase in consulting expenses. The increase in consulting and contractors’ fees includes variable compensations for an amount of €253,000 for the three months ended March 31, 2020 and €498,000 for the three-months ended March 31, 2021 related to a cash-settled share based payment transaction.

Research and Development Expenses. Before capitalization of €311,000 for the three months ended March 31, 2020, research and development expenses increased by €0.5 million, or 168%, from €318,000 (or €7,000 after capitalization of €311,000) for the three months ended March 31, 2020 to €0.9 million for the three months ended March 31, 2021, due to an increase in staff and consulting costs to support the Company’s R&D activities.

Clinical Expenses. Before capitalization of €1.4 million for the three months ended March 31, 2021 and capitalization of €568,000 for the three months ended March 31, 2020, clinical expenses increased by €1.1 million, or 139%, from €0.7 million (or €177,000 after capitalization of €568,000) for the three months ended March 31, 2020 to €1.8 million for the three months ended March 31, 2021 (or €342,000 after capitalization of €1.4 million). The increase in the expenses was mainly due to an increase in staff and consulting to support the completion of the BETTER SLEEP trial implantations, continuous recruitment for the EliSA trial and the ongoing DREAM IDE trial in the United States.

Manufacturing Expenses. Before capitalization of €215,000 for the three months ended March 31, 2021 and €578,000 for the three months ended March 31, 2020, manufacturing expenses increased by €0.5 million, or 74%, from €0.6 million (or €62,000 after capitalization of €578,000) for the three months ended March 31, 2020 to €1.1 million (or €901,000 after capitalization of €215,000) for the three months ended March 31, 2021. The increase was mainly due to an increase in staff, in the production and engineering team to support capacity and yield improvement, and in purchasing raw materials to support an increase in production.

Quality Assurance and Regulatory Expenses. Before capitalization of €133,000 for the three months ended March 31, 2021 and €263,000 for the three months ended March 31, 2020, quality assurance and regulatory expenses increased by €170,000, or 59%, from €288,000 (or €25,000 after capitalization of €263,000) for the three months ended March 31, 2020 to €458,000 (or €325,000 after capitalization of €133,000) for the three months ended March 31, 2021. The increase was mainly due to an increase in staff and QA & regulatory activities to support the manufacturing scaling-up process.

Patent Fees & Related Expenses. Before capitalization of €56,000 for the three months ended March 31, 2020, patent fees & related expenses increased by €560,000, or 491%, from €114,000 (or €58,000 after capitalization of €56,000) for the three months ended March 31, 2020 to €0.7 million for the three months ended March 31, 2021 due to expenses related to the in-licensing agreement with Vanderbilt University.

Therapy Development Expenses. Therapy Development expenses increased by €196,000, or 56%, from €352,000 for the three months ended March 31, 2020 to €0.5 million for the three months ended March 31, 2021. The increase in the expenses was mainly due to an increase in staff and consulting to support the launch the commercialization of the Genio® system in Europe.

Other Operating Income / (Expenses). The Company had other operating expenses of €191,000 for the three months ended March 31, 2020 and operating income of €4,000 for the three months ended March 31, 2021. The increase in expenses was mainly due to the impact of the initial measurement and re-measurement of the financial debt.

Operating Loss

The increase of operating loss from €2.1 million for the three months ended March 31, 2020 to €5.7 million for the three months ended March 31, 2021, or a change of €3.3 million, was due to increases of activities in all departments. The Company currently conducting three clinical trials to continue gathering clinical data and obtain regulatory approvals. In June 2020, the Company obtained IDE approval to start the DREAM trial in the United States. In line with this strategy, the Company continues to invest in research and development to improve and develop the next generation of the Genio® system and prepare for scaling-up of production capacities.

Cash Position

Cash and cash equivalents totaled €86.2 million on March 31, 2021, as compared to €92.3 million on December 31, 2020.

Net cash used in operations was €4.2 million for the three months ended March 31, 2021 compared to €1.2 million for the three months ended March 31, 2020. The increase of €3.0 million was primarily due to an increase in a loss for the period of €3.3 million that was mainly attributable to increased general and administrative expenses, research and development expenses, manufacturing expenses and therapy development expenses, which were offset by a positive variation in the working capital of €0.5 million.

Net cash used in investing activities for each of the three months ended March 31, 2021 and the three months ended March 31, 2020 was €1.8 million.

Net cash used in financing activities for the three months ended March 31, 2021 was €104,000 compared to €24.8 million of net cash provided by financing activities during the three months ended March 31, 2020. The decrease was due to a lack of capital increase during the first quarter of 2021.

Outlook for 2021

The Company’s business, operational, and clinical outlook for 2021 include the following expected milestones and goals:

  • Ramp up EU revenue and build a dedicated sales team in Germany
  • Open second independent manufacturing site in Belgium, in addition to existing site in Israel
  • Complete DREAM pivotal trial enrollment

First quarter report 2021
Nyxoah’s financial report for the three months ended March 31, 2021, including details of the unaudited consolidated results, are available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a CE-validated, patient-centered, next generation hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and comorbidities including cardiovascular diseases, depression and stroke.

Following the successful completion of the BLAST OSA study in patients with moderate to severe OSA, the Genio® system received its European CE Mark in 2019. The Company is currently conducting the BETTER SLEEP study in Australia and New Zealand for therapy indication expansion, the DREAM IDE pivotal study for FDA approval and a post-marketing EliSA study in Europe to confirm the long-term safety and efficacy of the Genio® system.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal
law to investigational use in the United States.

Forward-looking statements
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; and the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

For further information, please contact:
Nyxoah
Fabian Suarez, Chief Financial Officer
fabian.suarez@nyxoah.com
+32 10 22 24 55

Gilmartin Group
Vivian Cervantes

vivian.cervantes@gilmartinir.com

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Nyxoah files Registration Statement for Proposed Initial Public Offering in the United States

Nyxoah files Registration Statement for Proposed Initial Public Offering in the United States

Mont-Saint-Guibert, Belgium – June 10, 2021, 11:30pm CET / 5:30pm ET – Nyxoah SA (Euronext Brussels: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced that the Company has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to a proposed initial public offering of its ordinary shares, which are expected to be listed on the NASDAQ Global Market in the United States.  The number of ordinary shares to be offered and the price for the proposed offering have not yet been determined.

Nyxoah’s ordinary shares are currently listed on Euronext Brussels under the symbol “NYXH”. An application has been made to list the ordinary shares on the NASDAQ Global Market under the same symbol.

Piper Sandler, Stifel and Cantor are acting as joint book-running managers for the proposed offering. Degroof Petercam is acting as a manager.

A registration statement on Form F-1 has been filed with the SEC but has not yet become effective. The ordinary shares may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification or publication of an offering prospectus under the securities laws of any such state or jurisdiction.

The proposed offering of ordinary shares in the United States will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed offering can be obtained from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by e-mail at prospectus@psc.com, or by phone at (800) 747-3924; Stifel, Nicolaus & Company, Incorporated at Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com; or Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 4th Floor, New York, New York 10022; email: prospectus@cantor.com.

Contacts:

Nyxoah
Fabian Suarez, Chief Financial Officer
fabian.suarez@nyxoah.com
+32 10 22 24 55

Gilmartin Group
Vivian Cervantes
vivian.cervantes@gilmartinir.com

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Layout International Partners with Sophi.io to Fully Automate Print Production

Combining Layout International’s NewsPublish and Sophi.io’s smart AI and ML engine reduces the hours long process of print laydown to just minutes

TORONTO, June 10, 2021 (GLOBE NEWSWIRE) — Sophi.io, a suite of AI-powered optimization, prediction and automation tools developed by The Globe and Mail, has partnered with Layout International, a supplier of cutting-edge enterprise technology, to transform print production. Sophi will provide the smart AI/ML technology to fully automate the end-to-end print production workflow to save publishers time and money and enable them to focus on creating high quality content.

Print laydown is typically a long and arduous process, involving multiple editors and page designers and taking hours to complete. Without the rigid constraints of a template, Layout International customers will now have the opportunity to create a print-ready paper that is indecipherable from a paper prepared by human page designers, and the entire process takes just minutes. And for Layout International’s over 200 customers, this partnership means seamless integration of Sophi into their current NewsPublish editorial workflow.

“We’re excited that working with Sophi.io enables us to offer our customers cutting edge new capabilities in the form of an end-to-end automated print solution that dramatically increases efficiencies. Our customers will be able to run and rerun their print paper in just minutes, whenever they chose, all within the NewsPublish Enterprise content management system that they already use daily,” said Jean-Michel Habis, CEO of Layout International.

The Sophi suite of tools is designed to identify an organization’s most valuable content (not the most popular content, but the content that drives conversions or retention or the metric that matters most to that organization) and place it in the most valuable places across their digital entities, or behind a paywall when the subscription revenue outweighs the predicted advertising revenue. In addition to NewsPublish powered by Sophi.io, Sophi provides site automation, a fully dynamic, real-time, personalized paywall, and analytics solutions to publishers across the world.

“Print laydown is a massive undertaking,” said Greg Doufas, Chief Technology Officer at The Globe and Mail. “We see this partnership with Layout International giving publishers the freedom to focus on content creation and the specific design elements that page designers want to spend their energy on. The best part is that NewsPublish powered by Sophi.io is getting better and smarter every day, so Layout International customers will always be on the cutting edge of technology with this solution.”

To learn more, please visit www.newspublish.org or email sales@layoutintl.com.

About Layout International
Layout International (www.layoutintl.com) meets the growing technological needs in the market by providing highly customizable enterprise solutions. They serve more than 200 clients, supplying them with cutting-edge technology to improve the way they work. They enable many organizations to digitally transform their processes, migrate and integrate to work on a single platform.

Layout International Media Contact
Ghassan Halawi
Vice President of Sales, Layout International
+961 70 855685
ghalawi@layoutintl.com

About Sophi.io
Sophi.io (https://www.sophi.io) is a suite of AI-powered optimization and prediction tools that helps content publishers make important strategic and tactical decisions. Sophi solutions range from Sophi Site Automation and Sophi for Paywalls to Sophi Analytics, a decision-support system for content publishers. Sophi is designed to improve the metrics that matter most to your business, such as subscriber retention and acquisition, engagement, recency, frequency and volume.

Sophi.io Media Contact
Jamie Rubenovitch
Head of Marketing, Sophi.io
The Globe and Mail
416-585-3355
jrubenovitch@globeandmail.com
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Al Tamimi & Company advises Telecom Egypt to sign a reformed shareholder’s agreement with Vodafone Group

GIZA, Egypt, June 09, 2021 (GLOBE NEWSWIRE) — Telecom Egypt and Vodafone Group have signed a revised Shareholders’ Agreement today, after nearly three years of negotiating a settlement. The agreement thoroughly stated certain variations to Vodafone’s payment policy. Al Tamimi & Company have legally advised Telecom Egypt on renegotiating aspects of the shareholder’s current agreement between Vodafone Group. The amended and restated shareholder’s agreement is mainly targeting the mutual protection for the corporate domination and exit rights of both parties.

Ehab Taha, Partner and Head of Corporate Commercial, commented: “We are pleased to have advised Telecom Egypt on this amended shareholders agreement. This agreement enhances the rights of Telecom Egypt as a shareholder in Vodafone Egypt for Telecommunications and sets the way forward for a true partnership between Telecom Egypt and Vodafone Group for future years to come. The new agreement will lead to further stability and enhancement in the mobile telecommunication market in Egypt,” Ehab Taha added.

Further developments after the restated signed agreement has been announced, Vodafone Egypt will have the accessibility to transfer its data within the wider Vodafone Group. TE still has its existing rights in the agreement and has obtained other superior rights, including access to information. Regarding payment terms, Vodafone Egypt already paid 2 billion EGP last March and still has to pay a dividend of 10 billion EGP to its shareholders during this year. Lastly, going forward both parties have agreed on an extra 60% of free cash flow.

For further information, please contact:

Zeina Makarem
Regional Marketing Manager, Al Tamimi & Company
E: z.makarem@tamimi.com
T: 01000484182

NOTES TO EDITORS

Al Tamimi & Company is the largest law firm in the Middle East with 17 offices across 9 countries. The firm has unrivalled experience, having operated in the region for over 30 years. Our lawyers combine international experience and qualifications with expert regional knowledge and understanding.

We are a full-service firm, specializing in advising and supporting major international corporations, banks and financial institutions, government organizations and local, regional and international companies. Our main areas of expertise include arbitration & litigation, banking & finance, corporate & commercial, intellectual property, real estate, construction & infrastructure, and technology, media & telecommunications. Our lawyers provide quality legal advice and support to clients across all of our practice areas.

Our business and regional footprint continues to grow, and we seek to expand further in line with our commitment to meet the needs of clients doing business across the MENA region.

For more information, please visit www.tamimi.com

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Zoom Launches Zoom Phone Appliances, Empowering the Hybrid Workforce

Zoom Phone Appliances Provide an All-In-One Desk Phone Solution for Calls and Meetings, with Hardware Solutions from Poly and Yealink

SAN JOSE, Calif., June 09, 2021 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (NASDAQ: ZM) today announced the launch of Zoom Phone Appliances, a new category of hardware optimized for the hybrid workforce, from home offices to shared huddle spaces, addressing use cases across industries. Zoom Phone Appliances combine Zoom technology with hardware from Poly and Yealink to provide video and audio capabilities and touch display, in an all-in-one desk phone solution for HD video meetings, phone calls, and interactive whiteboarding.

“Zoom continues to demonstrate fast pace of innovation and ability to scale globally with its robust cloud phone offering, Zoom Phone,” said Elka Popova, VP of Connected Work Research at Frost & Sullivan. “Zoom Phone has always been a disruptive alternative to legacy phone solutions and the new appliance program further enhances its value proposition by enabling businesses to video-enable workspaces with purpose-built appliances that are easy to procure, deploy, and manage.”

“The traditional workplace is evolving and adapting, and our goal is to empower the workforce to accomplish more by blurring the lines between voice and video,” said Graeme Geddes, Head of Zoom Phone and Zoom Rooms at Zoom. “The new Zoom Phone Appliance program boasts a selection of purpose-built Zoom Phone hardware from Poly and Yealink, streamlining communications, removing friction, and enabling a powerful communications experience.”

Zoom Phone Appliances simplify licensing, installation, use, and management, benefitting both the end users and IT departments. Additional highlights of Zoom Phone Appliances include:

  • A full-featured desk phone with powerful Zoom capabilities. Zoom Phone Appliances are always on, and always ready for instant communication and collaboration. Easily start ad-hoc or scheduled meetings, make and receive phone calls, check voicemail, and virtually collaborate with content sharing and annotation
  • Centralized management through Zoom Admin Portal: Simplified, scalable, centralized management with remote provisioning and updates
  • No additional licensing required: Login to a Zoom Phone Appliance with your Zoom account and create an instant office experience
  • Personalized for the user: Syncs with the user calendar, status, meeting settings, and phone for an integrated video-first unified communications experience
  • Simplified onboarding with Zero-touch provisioning: Minimizes need for IT support with a simplified set-up and user experience
  • Touch display with interactive whiteboarding: Collaborate with colleagues with interactive whiteboarding that can easily be exported and shared
  • Zoom Certified: Zoom Phone Appliances are introducing a new certified hardware category, ensuring these devices are purpose-built for an optimal Zoom Phone and meetings experience. More devices will be added to this category over time

The inaugural class of Zoom Phone Appliances features innovative solutions from two Zoom hardware partners — Poly and Yealink — with others to follow.

Poly CCX 600 Desk Phone and CCX 700 Desk Phone with integrated video camera

“We are excited to be among the first to integrate a native Zoom experience into our Poly CCX family, as Zoom Phone Appliances,” said John Lamarque, Vice President and General Manager, Voice Collaboration, Poly. “This brings the Zoom platform that we all know and love front and center on the device’s touch display, providing a powerful and immersive experience.”

Yealink VP59 Smart Video Phone

“We are delighted to unveil the new, reliable, and cutting-edge VP59 video phone, a Zoom Phone Appliance,” said Alvin Liao, Vice President of Product, at Yealink. “The VP59 video phone’s touch display will be powered by Zoom’s industry-leading video communications platform, providing customers with a user-friendly interface and intuitive experience.”

Zoom Phone Appliances are available through the Zoom Hardware-as-a-Service program as well as from authorized Poly and Yealink resellers. To learn more about Zoom Phone Appliances, visit the Zoom Phone Appliances website and read our blog.

About Zoom
Zoom is for you. We help you express ideas, connect to others, and build toward a future limited only by your imagination. Our frictionless communications platform is the only one that started with video as its foundation, and we have set the standard for innovation ever since. That is why we are an intuitive, scalable, and secure choice for individuals, small businesses, and large enterprises alike. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Visit zoom.com and follow @zoom.

Zoom Public Relations
Farshad Hashmatulla
Product PR Manager
press@zoom.us

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MENA Pakistan Press Releases

Aafaq Islamic Finance forges transformational partnership with The Social Loan Company to drive financial inclusion

Alliance to set up AI-powered financial wellness platform in the MENA region

Dubai, UAE; June 9, 2021:, June 09, 2021 (GLOBE NEWSWIRE) — The Social Loan Company (TSLC), a Singapore-based AI/ML-powered cutting-edge big data-driven credit enablement platform company, has forged a transformational partnership with Aafaq Islamic Finance to set up a trend-setting non-bank, mobile-first loan platform to deliver financial access to the underserved young digital natives in the MENA region. At a press conference at The Waldorf Astoria Dubai International Financial Centre, the two parties announced plans to launch the industry-leading platform across chosen markets in the region to deliver appropriate, affordable, accessible, and differentiated financial solutions to drive the inclusion of credit-thin, new-to-credit, and credit-invisible everyday consumers.

Rashed Mahboob Al Qubaisi, CEO of Aafaq Islamic Finance said: “We are pleased that Aafaq was selected by TSLC as a strategic partner in the MENA region. This partnership allows Aafaq to connect more deeply with its customers by providing differentiated Sharia-compliant financial transactions in an environment that is end-to-end digital, safe and secure.”

Al Qubaisi pointed out that “what distinguishes this new partnership between Aafaq and TSLC is the new possibility of extending our client base to include the young and underserved digital natives in this region.”

“TSLC is looking to usher in a new era of Artificial Intelligence-based financial services in the MENA region. There is no doubt that our current and future customers will reap rich rewards from the formidable combination of our legacy infrastructure with their proven expertise and track record of success in financial technology,” added Al Qubaisi.

Deepak Saluja, Co-Founder, Group CEO & Board Member, TSLC said: “At TSLC we are laser-focused on bringing in strong in-house R&D and building a unique technology-based, big data-driven, mobile-only digital-first alternative global financial services organisation. To launch in the Middle East, we needed a super-progressive institution with an impeccable track record, connected with us on a common mission to bring the underserved, everyday consumers into mainstream banking. Our partnership with Aafaq is a testimony to our global advocation of a JV-driven win-win model of co-operation between incumbents and challengers. Our hyper-inclusive proprietary platform, nuanced for this region, is designed to serve the moderate income, near-prime consumers. This transformational partnership is expected to bring about a paradigm shift in the fundamentals of credit assessment and delivery, anchored on the joint objective of building a more inclusive financial system.”

He added: “Together with Aafaq, we will redefine the financial landscape, transform the world of online lending in the Middle East and fundamentally change the way everyday people approach their relationship with money and banking in this region. We are proud to have partnered with Aafaq as our Social-Loan Partner, as we recognise a shared commitment to building a mission-driven enterprise that can help transform traditional financial services for the average-income underserved consumers in this region. Our ground-breaking ML-powered alternate data-driven credit-scoring engine will enable faster and better credit decisions, lower the barriers of borrowing and deliver access to honest, affordable and transparent credit.

TSLC recently set up Digital Collective Technologies Ltd., its wholly-owned subsidiary in Abu Dhabi Global Market (ADGM) for its centralized world-class tech and product leadership teams to operate from its regional headquarters at One Central, Dubai, UAE.

TSLC is currently fully functional in India as an end-to-end tech enabled, integrated, fully-automated diversified millennial consumer finance company under the brand name, CASHe – India’s leading consumer lending platform supported with proprietary AI-driven underwriting, and straddling the entire value chain of digital lending from in-app loans to embedded finance and BNPL. TSLC is on an ambitious global expansion drive, looking at key markets in West, South and Southeast Asia, as well as Latin America and Sub Saharan Africa.

Saluja added, “UAE’s regulatory framework is designed to foster innovation within this region. Given that MENA region has amongst the highest smartphone penetration and Fintech adoption rates in the world, going end-to-end digital has moved from being a side-show to the front and centre as a ‘must-have’ and a key strategic imperative to help achieve the digital transformation in the most holistic way possible. We are here for the long haul, committed to building a top-notch centralised tech innovation and R&D centre in this region and leading from the front of the battlelines to contribute significantly to the fintech landscape and help achieve breakthrough growth in the digital transformation of this region.

TSLC and Aafaq will enable Personal Loans, Pay Later and Virtual Credit Lines all in one digital wallet. Bundled-in, splitable and consumable within minutes of origination designed for middle-income borrowers who need help with essential day-to-day purchase decisions, paying down and consolidating high interest debt, or to meet unexpected expenses. The partnership will be committed to democratising access to banking tools to secure affordable credit, borrow and spend responsibly, build wealth and save smartly, all within a hyper-inclusive platform.

Saluja added, “We are proud to have partnered with Aafaq as our Social Loan Partner as we recognise a shared commitment to building a mission-driven, futuristic, open-banking-ready platform that can help transform traditional financial services and improve economic freedom for the clear whitespace of average-income, underserved consumers in this region. The TSLC competitive advantage resides in our scalable and portable tech infrastructure, culture, talent, track record of sustained execution and operational insights. We are on a mission to democratise banking and credit, and make it more inclusive leveraging digital and AI. Traditional brick and mortar banks have left large segments of population underserved. We aim to rewrite the relationship with money and banking for the digital natives as longer-term partners on their journey to financial independence.”

TSLC is rethinking the fundamentals of banking, leveraging newer alternative sources of data to better predict credit risk and repayment behaviours, thus aiming to open up and offer almost the full banking experience to mainstream consumers. In India it reinvented underwriting for millennials seeking access to affordable credit via appropriately packaged in-app solutions. Over the past 4 years since inception, its flagship embedded lending brand, CASHe, has had a phenomenal upward trajectory.

Saluja concluded, “By taking many of the same operating principles and DNA and applying it to a much broader set of financial products and targeted demographics across large underpenetrated markets, we can now have an even bigger positive effect on customers to help change and improve their lives.”

About Aafaq Islamic Finance

Aafaq Islamic Finance PJSC was established in 2006 and provides a wide range of high-quality Sharia-compliant banking products and services to corporate and retail clients. It stands out to be one of the most independent financing companies in the UAE. Moreover, the company’s strategy focuses on exploring opportunities within different business sectors to achieve the highest levels of happiness for all stakeholders including shareholders, customers, employees, strategic partners and the community.

Aafaq depends on the strength of its strategic partnership with leading institutions in the UAE, such as the Ministry of Finance, Ministry of Human Resources and Emiratization, Dubai Economy, Emaratech, Trakhees, First Abu Dhabi Bank, and many Tas-heel, Amer and Business centers and others. Aafaq provides the customers of these entities with services like E-dirham, Labour Guarantees, Wages Protection System, payment services for Dubai Economy and topping up of Noqodi wallets. In addition, aafaq offers a wide range of financing solutions and smart payment tools for companies and individuals.

About The Social Loan Company (TSLC)

TSLC is a Singapore-based Artificial Intelligence-powered credit enablement Neo banking platform, currently operating as an integrated, diversified millennial consumer fintech company in India under the brand name CASHe. Setting up its regional headquarters in the UAE, TSLC is bringing its cutting-edge digital lending platform to underserved digital natives across chosen markets in the MENA region.

Its proprietary AI/ML-powered platform is safe, secure and super-efficient, leveraging data science and machine learning to automate underwriting and deliver financial access in under-penetrated markets. TSLC’s industry-leading portable, hyper-inclusive and scalable credit-enabling platform has helped it secure embedded transformational partnerships with Google Pay, Amazon, Mastercard, WhatsApp and Walmart, among others.

The Company is on a mission to become the Neo Bank of choice for young digital natives and micro entrepreneurs in select markets across the world by leveraging deep-tech and data science to unlock opportunities and make financial access possible for everyday middle-income consumers.

Since inception in 2016, it has been engaged in building a unique technology-based, big data-driven, mobile-first alternative financial services organisation offering a diverse range of digital financial products for the underbanked, as well as unparalleled user experience for the underserved.

Leveraging its existing technological infrastructure and proprietary platform, TSLC aims to continue innovating, connecting with targeted digital native demographics and expanding internationally to build IP-centric localised business models with decentralised execution in underserved emerging markets, underpinned by a strong trustworthy brand, and delivering on the promise of ESG and Financial Inclusion.

Attachments

Yusra
Aafaq Islamic Finance PSC
+971 50 653 3116
Ybaqi@aafaq.ae