HENGELO, The Netherlands, Sept 4 (Bernama-GLOBE NEWSWIRE) --Energy management company Lithium Werks (www.lithiumwerks.com), known for its Nanophosphate™ Cells and its smart lithium-ion modules, is merging with fellow lithium battery developer and producer Super B (www.super-b.com).
The new global company serves over 1,000 customers in nearly 50 countries and offers jobs to over 550 employees. With more than 400 patents for lithium technology, the company is a leading player when it comes to technical knowhow.
Earlier this year, Lithium Werks acquired the assets of the former Valence Technology, Inc, and the Industrial business of A123 Systems, LLC. The new Dutch company Lithium Werks B.V. as such is a joint force between a leading cell supplier, offering high quality Nanophosphate™ Cells, and two A-brand battery system suppliers: Valence and Super B.
The companies were already close partners. “Our strategic partnership has evolved. We now know that the best way for us to meet our customers’ growing demand for portable power solutions is to join forces,” said T. Joseph Fisher III, CEO and co-founder of Lithium Werks.
Super B’s chief executive Henk Kleef said: “The strong brand positions of both Valence and Super B for battery systems enables the development and expansion of the new Lithium Werks organization. We will continue to offer long lasting, safe, reliable and customized battery systems to our customers in sectors such as industrial, transportation, marine and renewable energy.”
“Together, we will facilitate a global transition to clean power, using nanotechnology and smart software to improve efficiency of transporting goods, people and energy." Mr Fisher said.
About Lithium Werks
Lithium Werks is a fast-growing global lithium ion battery company with production facilities in China and offices in the USA, the Netherlands, Northern Ireland, Great Britain and Norway. Lithium Werks provides cells, modules, and battery management systems into markets such as material handling, stationary energy storage, medical, and commercial marine.
About Super B
Super B has a strong reputation for developing and producing unique high-end lithium batteries for a variety of industries and applications. Various leading manufacturers and customers in markets such as automotive, recreational vehicles, motorcycles, UPS and marine have experienced the innovative and reliable Super B lithium battery solutions. The Super B solutions are developed and produced in Hengelo, The Netherlands and supported with worldwide regional sales/service centers.
Media contacts:
Lithium Werks Press/Media Relations
https://lithiumwerks.com/media-relations/
Source : Lithium Werks
--BERNAMA
Wednesday, September 5, 2018
Jumio opens AI Labs in Montreal, Canada
KUALA LUMPUR, Aug 29 (Bernama) -- Jumio Corporation launched Jumio AI Labs for the creation, experimentation and at-scale deployment of its machine learning and deep learning technologies in Montreal, Canada.
Headquartered in Palo Alto, California, Jumio is the creator of Netverify™ Trusted Identity as a Service – a complete solution to establish the real-world identity of the consumer.
The company in a statement said the AI Labs will develop deep learning models to dramatically improve identity verification accuracy and verification speed. The team is led by Chief Technology Officer and Chief Scientist at Jumio, Labhesh Patel.
Jumio’s investment in AI Labs will enable the company to stay at the forefront by creating new models, algorithms and best practices that will fuel the company’s growth and broader adoption of AI-powered identity verification.
The new office will expand upon the innovation driven by Jumio’s Vienna-based AI team by building production models that perform three vital functions related to online identity verification: data extraction, fraud detection and risk scoring.
In recent years, Montreal has emerged as a major technology hub for AI. The low cost of living and several large Montreal-based universities and academic institutions, ?has also led to a convergence of AI talent and research support in the city.
Artificial intelligence has already been productionalized to reduce the time it takes to verify an ID document or an online identity – helping Jumio’s customers reduce their abandonment rates and increase new account conversions.
In fact, Jumio’s AI models have reduced the average customer transaction time by 7 per cent with more significant reductions planned for the fourth quarter. More details on https://www.jumio.com
--BERNAMA
A.M. BEST ASSIGNS CREDIT RATINGS TO THE TOA 21ST CENTURY REINSURANCE COMPANY, LTD.; AFFIRMS CREDIT RATINGS OF THE TOA REINSURANCE COMPANY, LIMITED AND THE TOA REINSURANCE COMPANY OF AMERICA
HONG KONG, Sept 3 (Bernama-BUSINESS WIRE) -- A.M. Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” to The Toa 21st Century Reinsurance Company, Ltd. (TTFC) (Switzerland). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a+” of The Toa Reinsurance Company, Limited (Toa Re) (Japan) and The Toa Reinsurance Company of America (TRA) (headquartered in Morristown, NJ). The outlook of these ratings is stable. TTFC is a newly added member of Toa Re, of which TRA is the other member.
http://mrem.bernama.com/viewsm.php?idm=32603
http://mrem.bernama.com/viewsm.php?idm=32603
LOWER CHOLESTEROL TREATMENT BREAKTHROUGH
GORDON, Sydney, Australia, Aug 30 (Bernama) --
The American offshoot of Australian biotech Noxopharm, Nyrada, believes it is within reach of achieving a major advance in the treatment of cardiovascular disease. It has made important progress with a drug candidate known as NYX-330 that Nyrada believes may be the next breakthrough medication for heart attack and stroke.
NYX-330 is designed to lower cholesterol levels by inhibiting the action of a protein known as PCSK9 which has become one of the most highly valued targets in the pharmaceutical world since its discovery about 13 years ago. A drug that successfully inhibits this protein has been hailed as potentially rivalling the US$12 billion annual sales a few years ago of the anti-cholesterol drug, Lipitor, the biggest selling drug the world has seen.
PCSK9 has become so important because it is now understood to be the reason why the 'statin drug', the key cholesterol-fighting drugs, don't work as well as they should in many people. Having a combined treatment with a statin drug and another drug to block PCSK9 function is what is driving a major race in the pharmaceutical industry to find a PCSK9-inhibitor that doctors and patients will embrace.
Owen Dempsey, US-based executive director of Nyrada and biotech entrepreneur, explained the size of the opportunity, with about 1 in 4 Americans over the age of 45 (about 32 million men and women) now taking statin drugs and accounting for why this is the biggest drug category in the world with combined sales last year of US$19 billion.
"As good as statins are, they can do with extra help to bring cholesterol levels down to ground-floor levels in most people," he says. "The opportunity we are chasing is a drug that could become a standard co-treatment with statins to deliver those desired levels. A co-treatment to a $19 billion market is a very substantial market."
Dr Graham Kelly, who is chairman of Nyrada and managing director of Noxopharm, explained the science behind PCSK9. "PCSK9 works by holding cholesterol in the bloodstream, slowing down its removal from the blood," he says. "That's a normal function. The problem comes when our bodies make too much PCSK9. The result is reduced clearance resulting in higher cholesterol levels in blood."
"We now know that one of the consequences of statin therapy is an increase in PCSK9 levels, a normal response on the body’s part to less cholesterol being produced in the body."
The discovery of PCSK9 in 2005 triggered a major push by the pharmaceutical giants to develop a PCSK9 inhibitor that could be given in conjunction with a statin drug. It was a simple rationale – the statin drug would reduce the amount of cholesterol being made in the body, and the anti-PCSK9 drug would mean that what cholesterol was made would be more readily removed from the blood. A tablet with the same features as the statins - convenient, daily, affordable, oral - was the goal.
That goal hit early snags, with a general switch to developing alternative treatments based on large molecule drugs (monoclonal antibodies), two of which came to market in 2015 - Repatha (Amgen) and Praluent (Regeneron-Sanofi).
"Two very large clinical studies using Repatha or Praluent have now proved that combining them with statins delivers significant health benefits with blood cholesterol levels falling about 60% more than statins alone," says Dempsey. "But despite that proven benefit, use of these 2 drugs tends to be restricted to very high-risk patients. One reason is practical, with the drugs needing to be injected every 2 or 4 weeks. The second is cost, with a cost for unsubsidised patients of about USD $14,000 per year on an ongoing basis. These are not inconsiderable market challenges and we believe that NYX-330 overcomes these challenges."
Kelly explained the science behind the development of NYX-330. "A private Australian company headed by Dr Ian Dixon and assisted by 3 Australian chemists created the breakthrough" he says. "Using proprietary drug design software, they identified an area on the PCSK9 molecule that provided a suitable landing site for a small molecule. NYX-330 is the result of that pioneering science."
"NYX-330 blocks the ability of PCSK9 to bind to the cholesterol receptor. That means more receptors available to remove cholesterol from the blood and that equals lower blood cholesterol levels. "We are confident that we have a PCSK9 inhibitor with the potential to meet the goals of a convenient, oral, once-daily treatment at an affordable cost".
NYX-330 currently is undergoing studies in France and elsewhere designed to optimise its function, with an anticipated 15-18 months before it will be ready to bring into the clinic.
Nyrada Inc is a US-based biotechnology company. It was spun out of Noxopharm in 2017 to take advantage of the interest of the US capital market in biotech investment. Noxopharm currently owns 67% of Nyrada and Dr Dixon, through an investing entity, currently owns 33% of Nyrada. Senior management, including a chief executive officer and board, will be based in the US. Nyrada raised A$4 million through Australian 708(8) investors in February 2018.
SOURCE: Nyrada
--BERNAMA
The American offshoot of Australian biotech Noxopharm, Nyrada, believes it is within reach of achieving a major advance in the treatment of cardiovascular disease. It has made important progress with a drug candidate known as NYX-330 that Nyrada believes may be the next breakthrough medication for heart attack and stroke.
NYX-330 is designed to lower cholesterol levels by inhibiting the action of a protein known as PCSK9 which has become one of the most highly valued targets in the pharmaceutical world since its discovery about 13 years ago. A drug that successfully inhibits this protein has been hailed as potentially rivalling the US$12 billion annual sales a few years ago of the anti-cholesterol drug, Lipitor, the biggest selling drug the world has seen.
PCSK9 has become so important because it is now understood to be the reason why the 'statin drug', the key cholesterol-fighting drugs, don't work as well as they should in many people. Having a combined treatment with a statin drug and another drug to block PCSK9 function is what is driving a major race in the pharmaceutical industry to find a PCSK9-inhibitor that doctors and patients will embrace.
Owen Dempsey, US-based executive director of Nyrada and biotech entrepreneur, explained the size of the opportunity, with about 1 in 4 Americans over the age of 45 (about 32 million men and women) now taking statin drugs and accounting for why this is the biggest drug category in the world with combined sales last year of US$19 billion.
"As good as statins are, they can do with extra help to bring cholesterol levels down to ground-floor levels in most people," he says. "The opportunity we are chasing is a drug that could become a standard co-treatment with statins to deliver those desired levels. A co-treatment to a $19 billion market is a very substantial market."
Dr Graham Kelly, who is chairman of Nyrada and managing director of Noxopharm, explained the science behind PCSK9. "PCSK9 works by holding cholesterol in the bloodstream, slowing down its removal from the blood," he says. "That's a normal function. The problem comes when our bodies make too much PCSK9. The result is reduced clearance resulting in higher cholesterol levels in blood."
"We now know that one of the consequences of statin therapy is an increase in PCSK9 levels, a normal response on the body’s part to less cholesterol being produced in the body."
The discovery of PCSK9 in 2005 triggered a major push by the pharmaceutical giants to develop a PCSK9 inhibitor that could be given in conjunction with a statin drug. It was a simple rationale – the statin drug would reduce the amount of cholesterol being made in the body, and the anti-PCSK9 drug would mean that what cholesterol was made would be more readily removed from the blood. A tablet with the same features as the statins - convenient, daily, affordable, oral - was the goal.
That goal hit early snags, with a general switch to developing alternative treatments based on large molecule drugs (monoclonal antibodies), two of which came to market in 2015 - Repatha (Amgen) and Praluent (Regeneron-Sanofi).
"Two very large clinical studies using Repatha or Praluent have now proved that combining them with statins delivers significant health benefits with blood cholesterol levels falling about 60% more than statins alone," says Dempsey. "But despite that proven benefit, use of these 2 drugs tends to be restricted to very high-risk patients. One reason is practical, with the drugs needing to be injected every 2 or 4 weeks. The second is cost, with a cost for unsubsidised patients of about USD $14,000 per year on an ongoing basis. These are not inconsiderable market challenges and we believe that NYX-330 overcomes these challenges."
Kelly explained the science behind the development of NYX-330. "A private Australian company headed by Dr Ian Dixon and assisted by 3 Australian chemists created the breakthrough" he says. "Using proprietary drug design software, they identified an area on the PCSK9 molecule that provided a suitable landing site for a small molecule. NYX-330 is the result of that pioneering science."
"NYX-330 blocks the ability of PCSK9 to bind to the cholesterol receptor. That means more receptors available to remove cholesterol from the blood and that equals lower blood cholesterol levels. "We are confident that we have a PCSK9 inhibitor with the potential to meet the goals of a convenient, oral, once-daily treatment at an affordable cost".
NYX-330 currently is undergoing studies in France and elsewhere designed to optimise its function, with an anticipated 15-18 months before it will be ready to bring into the clinic.
Nyrada Inc is a US-based biotechnology company. It was spun out of Noxopharm in 2017 to take advantage of the interest of the US capital market in biotech investment. Noxopharm currently owns 67% of Nyrada and Dr Dixon, through an investing entity, currently owns 33% of Nyrada. Senior management, including a chief executive officer and board, will be based in the US. Nyrada raised A$4 million through Australian 708(8) investors in February 2018.
SOURCE: Nyrada
--BERNAMA
Tuesday, September 4, 2018
CIPPE2019 TO FEATURE 8 OIL & GAS CATEGORIES
1,800 global exhibitors and 117,000 visitors including 300+ buyer delegations are expected to gather in Beijing
BEIJING, Sept 3 (Bernama-BUSINESS WIRE) -- From March 27 to 29, 2019, the 19th China International Petroleum & Petrochemical Technology and Equipment Exhibition (cippe2019) will be held at the New China International Exhibition Center·Beijing. cippe2019 will continue to invite the world’s oil giants to showcase the latest oil equipment and technologies to the professional buyers from all over the world, and discuss the prospects of the oil and gas industry with industry experts and business representatives.
8 categories to cover the whole oil&gas industry chain
cippe2019 will focus on eight major categories: petroleum and petrochemical technology and equipment, shale gas technology and equipment, offshore oil and gas technology and equipment, offshore engineering, natural gas technology and equipment, pipeline and storage technology and equipment, explosion-proof instrumentation and oilfield soil remediation.
1,800 exhibitors including global oil giants
cippe2019 will continue to gather 18 international pavilions and 1,800 global companies including global top players like Saudi Aramco, ExxonMobil, Rosneft, Caterpillar, National Oilwell Varco, Schlumberger, BHGE, etc. Chinese giants like China National Petroleum Corporation, Sinopec, CNOOC will also exhibit.
117,000 professional visitors with massive buying power
cippe2019 is keen on attracting professional visitors with buying potential. Among 117,000 visitors, there will be more than 300 buyer delegations consisting of government agencies, oil associations, and NOCs. cippe has also been actively inviting global buyers from petroleum-related fields like aerospace, military, shipbuilding, electric power, coal and maritime, and will provide customized services to help exhibitors invite professional buyers.
http://mrem.bernama.com/viewsm.php?idm=32590
BEIJING, Sept 3 (Bernama-BUSINESS WIRE) -- From March 27 to 29, 2019, the 19th China International Petroleum & Petrochemical Technology and Equipment Exhibition (cippe2019) will be held at the New China International Exhibition Center·Beijing. cippe2019 will continue to invite the world’s oil giants to showcase the latest oil equipment and technologies to the professional buyers from all over the world, and discuss the prospects of the oil and gas industry with industry experts and business representatives.
8 categories to cover the whole oil&gas industry chain
cippe2019 will focus on eight major categories: petroleum and petrochemical technology and equipment, shale gas technology and equipment, offshore oil and gas technology and equipment, offshore engineering, natural gas technology and equipment, pipeline and storage technology and equipment, explosion-proof instrumentation and oilfield soil remediation.
1,800 exhibitors including global oil giants
cippe2019 will continue to gather 18 international pavilions and 1,800 global companies including global top players like Saudi Aramco, ExxonMobil, Rosneft, Caterpillar, National Oilwell Varco, Schlumberger, BHGE, etc. Chinese giants like China National Petroleum Corporation, Sinopec, CNOOC will also exhibit.
117,000 professional visitors with massive buying power
cippe2019 is keen on attracting professional visitors with buying potential. Among 117,000 visitors, there will be more than 300 buyer delegations consisting of government agencies, oil associations, and NOCs. cippe has also been actively inviting global buyers from petroleum-related fields like aerospace, military, shipbuilding, electric power, coal and maritime, and will provide customized services to help exhibitors invite professional buyers.
http://mrem.bernama.com/viewsm.php?idm=32590
Monday, September 3, 2018
A.M. Best adds Doron Grossman to its Asia Pacific operations
KUALA LUMPUR, Sept 3 (Bernama) -- A.M. Best has appointed Doron Grossman to its Asia Pacific operations as director, market development – South East Asia, effective Aug 17, 2018 .
Managing director of A.M. Best Asia-Pacific, Jose Ribeiro said the company look forward to working with Doron Grossman to support their franchise growth across the South Asia and Oceania insurance and reinsurance markets.
Based in Singapore, Grossman’s primary responsibilities will include the development and implementation of strategic initiatives to reinforce and enhance A.M. Best’s business activities and profile across Southeast Asia, Australia and New Zealand, a statement said.
He has a career in the insurance and reinsurance industries spanning more than 35 years, including periods of work based out of Australia, Europe and Singapore as well as across a breadth of industry sectors.
A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. More details at www.ambest.com.
--BERNAMA
Managing director of A.M. Best Asia-Pacific, Jose Ribeiro said the company look forward to working with Doron Grossman to support their franchise growth across the South Asia and Oceania insurance and reinsurance markets.
Based in Singapore, Grossman’s primary responsibilities will include the development and implementation of strategic initiatives to reinforce and enhance A.M. Best’s business activities and profile across Southeast Asia, Australia and New Zealand, a statement said.
He has a career in the insurance and reinsurance industries spanning more than 35 years, including periods of work based out of Australia, Europe and Singapore as well as across a breadth of industry sectors.
A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. More details at www.ambest.com.
--BERNAMA
Excellent financial strength rating for INPEX Insurance Ltd
KUALA LUMPUR, Sept 3 (Bernama) -- A.M. Best has affirmed the financial strength rating of A- (excellent) and the long-term issuer credit rating of ‘a-’ of INPEX Insurance Ltd (IIL) Bermuda and the outlook of the ratings is stable.
The ratings reflect IIL’s balance sheet strength, which A.M. Best categorised as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
A.M. Best said in a statement, IIL’s very strong balance sheet assessment mainly reflects its low underwriting leverage and conservative investment portfolio. Given the volume of risks that the company currently writes and retains, the capital required to support its current book of business is relatively modest.
A.M. Best expects IIL’s operating performance to remain profitable, although the company’s underwriting results also likely will remain volatile until the company can achieve much greater scale.
The stable outlook reflects A.M. Best’s expectation that IIL will continue to deliver consistently positive operating results, supported by a return to growth with strong underwriting margins and stable investment yields.
IIL is a single-parent captive of INPEX CORPORATION (INPEX), which is the largest oil and gas exploration and production company in Japan. In its role as a single-parent captive, it provides coverage that mainly consists of property damage, third-party liability and operator’s extra expenses for its parent, its affiliates and joint-venture companies.
A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
--BERNAMA
The ratings reflect IIL’s balance sheet strength, which A.M. Best categorised as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
A.M. Best said in a statement, IIL’s very strong balance sheet assessment mainly reflects its low underwriting leverage and conservative investment portfolio. Given the volume of risks that the company currently writes and retains, the capital required to support its current book of business is relatively modest.
A.M. Best expects IIL’s operating performance to remain profitable, although the company’s underwriting results also likely will remain volatile until the company can achieve much greater scale.
The stable outlook reflects A.M. Best’s expectation that IIL will continue to deliver consistently positive operating results, supported by a return to growth with strong underwriting margins and stable investment yields.
IIL is a single-parent captive of INPEX CORPORATION (INPEX), which is the largest oil and gas exploration and production company in Japan. In its role as a single-parent captive, it provides coverage that mainly consists of property damage, third-party liability and operator’s extra expenses for its parent, its affiliates and joint-venture companies.
A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
--BERNAMA
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