Daily Archives: November 5, 2019

CNH Industrial acquires ATI Track Systems

London, November 5, 2019

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI), today announced its agreement to acquire ATI Inc., a global manufacturer of rubber track systems for high horsepower tractors and combine harvesters. This acquisition will provide customers of CNH Industrial’s global agricultural brands, Case IH and New Holland Agriculture, with access to factory-fit industry-leading track technology, extending the available range and enabling them to tailor their choice based on their specific floatation, suspension and traction requirements. ATI Track Systems’ industry-leading track technology provides leading-edge suspension and high speed transport performance, unmatched durability and high productivity on rough terrain while minimizing compaction and maximizing traction in wet harvest conditions.

This acquisition includes ATI Track Systems’ engineering and manufacturing plant in Mt. Vernon, Indiana, U.S.A..

CNH Industrial has a long standing commercial supply agreement with ATI Track Systems dating back to 2012: where tracks are currently fitted to the New Holland T9 articulated tractor range. Following this acquisition, the track systems will be available on Case IH and New Holland combines produced at the Company’s Grand Island, Nebraska, U.S.A. facility starting in 2020, and will also be available for retrofit.

“The acquisition of ATI Track Systems forms part of CNH Industrial’s strategic acquisition program to drive consolidation in the agricultural segment,” stated Hubertus Mühlhäuser, Chief Executive Officer, CNH Industrial. “This latest addition to the CNH Industrial agricultural portfolio will provide professional agribusinesses with multi-patented, industry-leading track technology, will further cement CNH Industrial’s track-leadership position.”

Headquartered in Mount Vernon, Indiana, ATI Inc. was established in 1997 and initially specialized in rubber tracks used for seismic exploration on Alaska’s North Slope, following which the company extended this technology to a range of agricultural tracks.

The closing of this transaction is subject to various customary conditions precedent. Considering the already announced acquisitions of AgDNA and K-Line (expected to be consummated by the end of the year), the aggregate consideration related to M&A activity in the Agricultural Segment for these three transactions will be approximately equal to $85 million.

CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com


Corporate Communications

Email: mediarelations@cnhind.com

Investor Relations

Email: investor.relations@cnhind.com


Cyberport Venture Capital Forum 2019 Fuels the Rise in Corporate Venture Funding

Cyberport Investors Network raises over HK$360million for start-ups

Hong Kong, Nov. 05, 2019 (GLOBE NEWSWIRE) — HONG KONG, 5 Nov 2019 – Cyberport’s landmark tech investment event, the Cyberport Venture Capital Forum (CVCF), officially kicked off today. Its two-day programme featured over 40 leading industry leaders, investors, tech start-ups as well as rising stars from the Cyberport community. The first day of the event was packed with a plethora of illuminating keynotes and panel discussions which addressed the overarching theme of “New Frontier of Tech Venturing” and uncovered the latest trends in the tech venture capital market. The forum also officially announced the outstanding achievements of the Cyberport Investors Network (CIN) over the past two years which raised up to HK$360 million of funds for its start-ups.

Nicholas Yang, Secretary for Innovation and Technology of the Hong Kong SAR, Dr George Lam, Chairman of Cyberport, Mr Peter Yan, CEO of Cyberport, Mr Duncan Chiu, Chairman of Steering Group of the CIN, and the new Chairperson, Mrs Cindy Chow officiated the forum’s opening ceremony together.

Dr George Lam: Hong Kong’s technological development to grow and thrive despite obstacles 

In his welcome remarks, Dr George Lam, Chairman of Cyberport, expressed his confidence in the venture capital market in Hong Kong. “Despite the impact brought on by the macro environment, the rapid development of technology and digital transformation in Asia has not slowed down. The Cyberport Macro Fund has invested HK$106 million in 14 start-ups, and has brought in close to HK$500 million in co-investments since its launch. This brings the total amount of investments in start-ups to more than HK$600 million, which exemplifies the strength and potential of Hong Kong’s start-ups. Facing the challenges ahead, I believe Hong Kong’s development in innovation and technology will continue to march forward while seizing new opportunities arising from the Greater Bay Area.”

Bridging Investors and Start-ups

CVCF also marked the second anniversary of CIN which has built a network of over 100 investors, including venture capital funds, private equity, angel investments and family investment offices. The forum celebrated CIN’s success in raising an aggregated amount of HK$360 million for the Cyberport community and successfully matching 26 partnerships throughout the past two years. Mrs Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund, officially succeeded Mr Duncan Chiu, Co-Founder and Managing Director of Radiant Venture Capital, as the new steering group chairperson of the CIN at the forum.

Mr Duncan Chiu, Chairman of Steering Group of the CIN said, “Beyond the heartening progress we’ve made in investments, this year we were successful in bringing in more investors from the Greater Bay Area, increasing the total number to over 20. We believe this will stimulate deal flow and help our local start-ups tapping into the Greater Bay Area market, all while promoting synergy and development within the region’s technology ecosystem.”

Mrs Cindy Chow, the new Chairperson of the CIN, expects the Network to experience continued growth and promote synergy between more start-ups and member investors, further stimulating the start-up investment landscape, all while driving new impetus in the local venture capital market.

Exploring corporate venture capital and technology investment

One of the forum’s focuses is on corporate venture and an impressive line-up including representatives from C capital, CLP Holdings, PM Equity Partner and China Resources Capital was assembled to impart insight on their partnerships with private and institutional investors to create value for their own businesses. Mr Josemaria Siota, Director of Research of IESE Business School, was present to dispel the seven myths of corporate venturing backed by results from his recent report findings.

With the overarching theme “New Frontier of Tech Venturing”, the event uncovered the multi-faceted dimensions of tech funding, including the rise of corporate venturing, an outlook on the tech investment scene in the US, China and the Belt & Road region, strategy formulation for family and early stage investments, the latest funding tech platforms and more.

Heavyweight speaker, Mr Michael Zhu, Managing Partner of Gobi Partners China, delivered an in-depth overview of current market development as well as future trend predictions of high-tech venture investments in China and along Belt and Road countries. Mr Dan Brody, Managing Director of Tencent Investment, imparted his insight on international investment opportunities.

The ideal platform to showcase start-up potential

To showcase Cyberport companies’ cutting edge technologies and facilitate investment matching, over 30 local start-ups, including many from the Cyberport Community, showcased their products and solutions at the Innovator Showcase, while the Founder Stage featured start-ups in the fields of FinTech, InsurTech, digital entertainment, esports, and smart living to pitch their innovative projects to investors.  One-on-one onsite meetings were also pre-scheduled and carried out at the event based on mutual investment appetites and funding demands via the forum’s exclusive online Investor Matching platform to facilitate investment and fundraising opportunities.

About Cyberport

Cyberport is an innovative digital community with around 1,400 start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, which is wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups on their growth journey, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in the public and private sectors. For more information, please visit www.cyberport.hk


Hong Kong Cyberport

Research from Philips highlights the need for radiology staff empowerment and workflow-focused innovation

November 5, 2019

Findings underscore high rates of stress and burnout among radiology staff worldwide 

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the key findings of the Philips Radiology Staff in Focus study. This new research sheds light on the pain points that exist specifically for radiology technologists and imaging directors working in the U.S., France, Germany and the U.K., and identifies areas where technology and informatics can deliver meaningful improvements to workflow, imaging results, and patient and staff satisfaction.

Across the four countries surveyed, radiology technologists and imaging directors expressed, on average, only moderate satisfaction with their jobs. With pressure on imaging departments mounting amid rising patient volumes and a global shortage of qualified staff, it is critical that health systems consider how to maintain or improve staff satisfaction to help minimize attrition.

“The subject of burnout is a major topic of discussion in radiology, but there has not been sufficient focus on understanding the specific challenges faced by radiology technologists and imaging directors,” said Kees Wesdorp, General Manager, Diagnostic Imaging at Philips. “These critical stakeholders have a direct responsibility for image acquisition and quality, operations, and patient care. As we develop imaging solutions that advance radiology through improved workflow and efficiency, data integration and AI, it’s important that we support radiology staff to provide the best to care to each patient.”

Empowering the people behind the image
While radiology technologists are quite clear about causes of inefficiency in their departments, many do not feel empowered to effect change. On average, 43% felt either “not at all empowered” or only “somewhat empowered” to effect change in their department.

Imaging works as a system, and it can only deliver peak performance when all its stakeholders are empowered to do their jobs effectively. Imaging staff are on the front lines of patient care and it is essential to arm them with the right information to enable a workflow that gives them more time with patients. Focusing innovation efforts in these areas on the needs of imaging staff has great potential to improve workflow and throughput, enhance patient satisfaction, and decrease staff stress and burnout.

Efficiency and automation needed to get the right image the first time
When asked what the biggest barrier was for getting the image right the first time, technologists cited lack of patient preparation and patient information as the top contributor (37%). Technology factors (equipment quality and capability, mastery of the technology, and ease-of-use of imaging equipment) were second highest (36%). Workflow and colleague support ranked third (27%).

While staff consider many factors to be important to their job satisfaction, those they value most involve their ability to work as a team to deliver highly competent, patient-centered care. However, various demands for their time mean they cannot focus on these areas as much as they would like. The report offers insights from these key stakeholders about their top challenges, including sources of stress, technology confidence, and communication and information gaps, and how we can begin to address them more effectively.

High rates of stress and burnout among radiology technologists
According to the study, stress among radiology technologists is alarmingly high, with 40 to 97% of techs reporting moderate to severe levels of job stress. As a corollary, technologists in every geography similarly reported significant burnout, with over one-third of respondents reporting moderate to high levels of burnout. When combined with high burnout levels for radiologists [1], these numbers demonstrate a systemic problem across imaging. Across every geography, workload was cited as by far the greatest source of stress and burnout for imaging staff.
About the study
The Philips Radiology Staff in Focus report is based on a double-blind survey of 254 radiology technologists and imaging directors in the U.S., France, Germany and the U.K., and was conducted between May and June 2019. To download the report or to learn more about Philips’ solutions to support a precise diagnosis, please visit: www.philips.com/radiology.

Philips will demonstrate its integrated portfolio of imaging solutions at the 2019 Radiological Society of North America (RSNA) Annual Meeting in booth #6730. For more information about Philips’ presence at RSNA, visit www.philips.com/RSNA, and follow @PhilipsLiveFrom for #RSNA19 live updates.

[1] Medscape Radiologist Lifestyle, Happiness & Burnout Report 2019

For further information, please contact:

Mark Groves
Philips Global Press Office
Tel.: +31 631 639 916
Email: mark.groves@philips.com

Twitter: @mark_groves

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2018 sales of EUR 18.1 billion and employs approximately 80,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.



Black Belt TX forms a strategic partnership with Praxis Biotech to develop new therapies targeting stress response pathways in cancer

Black Belt TX forms a strategic partnership with Praxis Biotech
to develop new therapies targeting stress response pathways in cancer

Stevenage, UK and San Francisco, US – 5 November 2019. Black Belt TX, a company focused on targeting stress response pathways in cancer, and Praxis Biotech, a biotech company focused on the discovery of small molecules modulating cellular stress mechanisms in different disease areas, have entered into a strategic partnership to jointly discover and develop new first-in-class small molecule therapeutics to undisclosed targets which are aimed at modulating key control mechanisms in the stress response pathways in cancer.

Cancer cells as well as immune cells experience severe and persistent stress in the tumour microenvironment. Cancer cells develop mechanisms to survive, grow and spread under these chronic-stress conditions while keeping the immune system at bay. Black Belt is targeting key control mechanisms in the stress response pathways to abolish cancers cells’ coping mechanisms to stress while reverting stress-induced immune cell dysfunction.

As part of this partnership, Black Belt will receive exclusive rights to several small molecule programmes of Praxis. In return, Praxis will receive a minority stake in Black Belt.  Upon the achievement of certain milestones, Praxis Biotech has the right to acquire an additional minority stake in the company. Black Belt will be responsible for the development and commercialization of the programmes. Praxis Biotech will continue to support the programmes using their small molecule discovery platform.

Robert de Jonge, CEO of Black Belt TX said: “We are delighted to partner with the expert team at Praxis Biotech. Bringing together Praxis’ expertise in small molecule discovery and stress response signalling pathways with Black Belts team of cancer and immunology specialists is a powerful combination. The collaboration accelerates Black Belts therapeutic programmes and brings the company to the next stage in its development.”

Dr. Sebastian Bernales, CEO of Praxis Biotech, said: “We believe Black Belt’s focus of targeting stress mechanisms in the tumour micro environment will have a major impact on the next generation of cancer treatments. We look forward to collaborating with Black Belt’s team that has proven to be able to quickly bring early stage assets to IND.”

Professor Peter Walter, professor in the Department of Biochemistry and Biophysics at the University of California, San Francisco, and a well-recognized key opinion leader in intracellular stress response signalling pathways will join Black Belt’s Scientific Advisory Board.

For further information please contact:
Black Belt TX Ltd.
Robert de Jonge, Chief Executive Officer

About Black Belt TX

Black Belt TX is a preclinical stage biotechnology company focused on translating novel targets in the chronic stress response pathways into new therapeutic approaches to treat cancer. The therapeutic programmes are aimed at key control mechanisms involved in the stress response in the tumour microenvironment. The company has established a diversified pipeline of first-in-class small molecule programmes as well as a proprietary target discovery and validation platform. The company has an experienced team of drug developers and was created as a spin-off from Tusk Therapeutics which was acquired by Roche in September 2018 for 655 million EUR.

Black Belt TX is based in Stevenage at the Stevenage Bioscience Catalyst in the UK (London-Cambridge area).

About Praxis Biotech

Praxis Biotech is a discovery-stage small molecule company based in San Francisco, California, US, with several programs targeting key intracellular stress response signalling pathways that are important in cellular homeostasis and disease. Building on the scientific discoveries done by Professor Peter Walter, Praxis Biotech was co-founded in 2016 by a scientific team that includes Sebastian Bernales & Jit Chakravarty (ex-Medivation), William Rutter & Pablo Valenzuela (ex-Chiron), and Peter Walter.

PureCircle’s Latest Stevia Leaf Development Offers Significant Productivity Advantages

New Leaf Variety Yields More Stevia Ingredients

A PureCircle Stevia Plant

A PureCircle Stevia Plant

CHICAGO, Nov. 04, 2019 (GLOBE NEWSWIRE) — PureCircle (LSE: PURE), the world’s leading producer and innovator of great-tasting stevia sweeteners for the global beverage and food industries, has developed and is now expanding use of a new stevia leaf variety which provides significant advantages compared to previous generations of stevia plants.

Carefully cultivated by PureCircle and successfully field-tested, this new stevia varietal yields greater quantities of our great-tasting next generation stevia ingredients. This breakthrough — increasing the effective yield of PureCircle’s stevia plants — enhances the company’s production efficiency, and even further improves its ability to deliver a sustainable supply of these next generation stevia leaf ingredients to food and beverage companies.

With that greater yield, this new stevia variety – the result of the company’s expertise in stevia innovation and agronomy — provides further cost effectiveness as greater quantities of ingredients can be sourced from each leaf. PureCircle’s innovation strength has led to its securing 200 patents globally related to stevia.

PureCircle’s mission is to provide food and beverage companies even greater access to our non-GMO stevia ingredients cost effectively for them. That helps them offer their consumers expanded selections of healthy, low- and no-calories foods and beverages using our plant-based stevia ingredients. That democratizes – or spreads access to – healthy foods and beverages with less or no added sugar and sweetened with a natural, plant-based sweetener. That is good for the business of the food and beverage companies and for the health and wellness of their consumers.

This year, 20% of PureCircle’s stevia plants were comprised of this new variety, and the Company plans to switch 90% of its stevia crop to this variety in 2020.

All of PureCircle’s ingredients begin with the stevia plant. A sweetener is a “stevia sweetener” only if it starts with the stevia plant. Stevia-like ingredients produced in laboratories by others are not stevia ingredients. The Company works with farmers in Asia, Africa, Latin America and North America to grow and source its proprietary stevia plants. PureCircle’s agricultural programs, not only provide the company with high-quality stevia, but also help support sustainability and farm communities.

Commenting on the breakthrough stevia leaf variety, PureCircle CEO Maga Malsagov stated:

“We are excited about our expansion program for our latest stevia varietal. It is the result of, and a testament to, our world-class agronomy and innovation. This further enhances our ability to provide food and beverage companies access to the best tasting content from the leaf, offering them a globally scaled supply and a cost-efficiency which has never before been possible.”

In the last decade. largely due to PureCircle’s efforts, stevia has come a long way. Some years ago, it was viewed as a plant-based, zero-calorie, single-ingredient sweetener which worked well in some beverage and food applications. Today, our next generation stevia leaf sweeteners offer sugar-like taste and work well in broad array of beverage and food products. We maximize use of each stevia plant to offer a robust portfolio of next generation stevia leaf ingredients including Reb M, flavors and antioxidants. These ingredients help beverage and food companies increase their offerings of zero- and low-calorie products without sacrificing taste.

Enquiries: Media

Jackson Pillow, Media Relations Manager
Email: Jackson.Pillow@purecircle.com Phone: +1 630 256 8394

About PureCircle

  • PureCircle is the only company that combines advanced R&D with full vertical integration from farm to high-quality, great-tasting innovative stevia sweeteners.
  • The Company collaborates with farmers who grow the stevia plants and with food and beverage companies which seek to improve their low- and no-calorie formulations using a sweetener from plants.
  • PureCircle will continue to: lead in research, development and innovation; produce a growing supply of multiple varieties of stevia sweeteners with sugar-like taste, using all necessary and appropriate methods of production; and be a resource and innovation partner for food and beverage companies.
  • PureCircle stevia flavor modifiers work in synergy with sweeteners to improve the taste, mouthfeel and calorie profile, and enhance the cost effectiveness, of beverage and food products.
  • Founded in 2002, PureCircle is continually investing in breakthrough research and development and it has been granted 200 stevia-related patents with more than 250 applied for patents pending.
  • PureCircle has offices around the world with the global headquarters in Chicago, Illinois.
  • To meet growing demand for stevia sweeteners, PureCircle is rapidly ramping up its supply capability. It completed expansion of its Malaysian stevia extract facility in March 2017, increasing its capacity to rapidly supply the newer and great-tasting specialty stevia sweeteners and helping provide ever-increasing value to its customers.
  • PureCircle’s shares are listed on the main market of the London Stock Exchange.
  • For more information, visit: www.purecircle.com

About stevia

  • Given the growing global concerns about obesity and diabetes, beverage and food companies are working responsibly to reduce sugar and calories in their products, responding to both consumers and health and wellness advocates. Sweeteners from the stevia plant offer sugar-like taste and are becoming an increasingly important tool for these companies.
  • Like sugar, stevia sweeteners are from plants. But unlike sugar, they enable low-calorie and zero-calorie formulations of beverages and foods.
  • Stevia leaf extract is a natural-based, zero calorie, high-intensity sweetener, used by global food and beverage companies as a great-tasting zero-calorie alternative to sugar and artificial sweeteners.
  • Stevia is a naturally sweet plant native to South America; today, it is grown around the world, notably in Kenya, China and the US.
  • The sweet-tasting parts of the stevia leaf are up to 350 times sweeter than sugar: stevia’s high-intensity sweetness means it requires far less water and land than sugar.
  • Research has shown that the molecules of the stevia leaf are present and unchanged in the dried stevia leaf, through the commercial extraction and purification process, and in the final stevia leaf extract product. All major global regulatory organisations, across 65 countries, have approved the use of high-purity stevia leaf extracts in food and beverages.
  • For more information on the science of stevia, please visit https://www.purecirclesteviainstitute.com/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/114d4eb9-f851-4ea0-b350-095fab553d2d