Month: June 2024

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DIGIASIA Corp Advances into AI Solutions for Financial Services, Telecom, and Government Sectors with NVIDIA GPU Allocation

~ Initial Access to 5,120 of NVIDIA’s Latest and Most Powerful GPUs ~

~ Develop and Deploy Advanced AI Enterprise Solutions for Fintech, Telecom, and Governments, Leveraging DIGIASIA’s Existing Infrastructure and NVIDIA’s Superior Hardware ~

~ Significant Expansion of DIGIASIA’s Comprehensive “Fintech as a Service” Ecosystem, Tapping into an Estimated USD 200-300 Billion Annual Global Opportunity for AI Across Financial Services1 ~

~ Catalyst to Achieve Significant Growth of Top and Bottom Line Beginning in the Fourth Quarter of 2024 ~

NEW YORK, June 24, 2024 (GLOBE NEWSWIRE) — Digi Tech Limited, the UAE based subsidiary of DIGIASIA Corp. (NASDAQ: FAAS) (“DIGIASIA” or the “Company”), a leading Fintech as a Service (“FaaS”) ecosystem provider, has secured allocation of an initial tranche of 5,120 NVIDIA H200 GPUs (NASDAQ: NVDA). The access to NVIDIA’s GPUs will propel DIGIASIA’s development of cutting-edge AI solutions for enterprise customers in fintech, telecom, and government sectors. The first iteration of these NVIDIA-powered solutions is expected to be deployed by the fourth quarter of 2024. DIGIASIA will base operations for its AI initiatives out of the Dubai International Financial Center (“DIFC”) in the UAE leveraging on the UAE and the DIFC’s global leadership in the advancement of advanced AI solutions.

Structure of Transaction and AI Fintech Platform

DIGIASIA has been allocated an initial tranche of 5,120 NVIDIA H200 GPUs with the option for an additional 10,240 GPUs. The total market value of the initial tranche exceeds $400 million and exceeds $1.2 billion with the additional option. Initially, DIGIASIA will deploy these advanced GPUs in Southeast Asia, India, and the Middle East, with plans for global expansion.

The integration of NVIDIA’s GPUs will significantly enhance DIGIASIA’s fintech infrastructure, boosting productivity and efficiency. This will enable DIGIASIA enterprise clients to implement advanced solutions such as AML, fraud detection, KYC, smart dealer lending, branchless banking, automated customer journeys, and deep encryption of financial data.

Market Opportunity

DIGIASIA’s access to NVIDIA GPUs opens up a substantial market opportunity, potentially tapping into a USD 200-300 billion annual global market in financial services. By leveraging NVIDIA’s cutting-edge GPUs and AI models, DIGIASIA aims to deliver advanced AI fintech solutions across Southeast Asia, India and the Middle East. DIGIASIA plans to utilize its existing enterprise partners and identify incremental strategic partners for AI datacenter hosting to support these innovative solutions.

Executive Insights

Prashant Gokarn, CEO of DIGIASIA, stated, “NVIDIA GPUs are at the core of any AI-based solution. We are thrilled with this allocation, which allows us to develop the next generation of DIGIASIA’s embedded finance platform with generative AI, enhancing precision and productivity for enterprises. This will allow us to continue to support our existing and new enterprise customers in the AI revolution.”

Subir Lohani, CFO and Chief Strategy Officer of DIGIASIA, commented, “Since going public in April, we have consistently executed our strategy to provide innovative solutions to our enterprise clients and expand our geographic reach. We plan to roll out the initial NVIDIA-powered solutions by the fourth quarter of 2024, driving significant growth and attractive returns. We are excited to grow this initiative from the DIFC Innovation Hub / AI Campus in the UAE which has become a global hub for the advancement of AI solutions.”

Forward-Looking Statements:

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning DIGIASIA and the Company’s operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. DIGIASIA cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world including those discussed in DIGIASIA’s Form 20-F under the headings “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and DIGIASIA specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

Investor Contact:

MZ North America

Email: FAAS@mzgroup.us

Company Contact:

Subir Lohani

Chief Strategy Officer and CFO

Email: subir.lohani@digiasia.asia

GlobeNewswire Distribution ID 9168558

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LNC DEADLINE: ROSEN, A TOP RANKED LAW FIRM, Encourages Lincoln National Corporation Investors to Secure Counsel Before Important June 24 Deadline in Securities Class Action – LNC

NEW YORK, June 24, 2024 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Lincoln National Corporation (NYSE: LNC) between November 4, 2020 and November 2, 2022, both dates inclusive (the “Class Period”), of the important June 24, 2024 lead plaintiff deadline.

SO WHAT: If you purchased Lincoln National securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Lincoln National class action, go to https://rosenlegal.com/submit-form/?case_id=24462 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 24, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Lincoln National was experiencing a decline in its variable universal life insurance business; (2) as a result, the goodwill associated with the life insurance business was overstated; (3) as a result, Lincoln National’s policy lapse assumptions were outdated; (4) as a result, Lincoln National’s reserves were overstated; (5) as a result, Lincoln National’s reported financial results and financial statements were misstated; and (6) as a result of the foregoing, defendants’ positive statements about Lincoln National’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Lincoln National class action, go to https://rosenlegal.com/submit-form/?case_id=24462 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 9168343

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OPEN Health and fusion announce partnership to deliver AI-powered healthcare communications

London, June 24, 2024 (GLOBE NEWSWIRE) — June 24, 2024, London, UK – OPEN Health, a pre-eminent global provider of scientific communications, HEOR and market access, patient engagement, and consulting, today announced a partnership with fusion, an innovative artificial intelligence (AI) and machine learning (ML) solutions provider that will work exclusively with OPEN Health. This alliance will see fusion’s market-leading AI capabilities deployed across OPEN Health’s extensive global client base, which includes 49 of the top 50 pharmaceutical companies.

Mary McGregor, Founder of fusion, commented, “OPEN Health provides an unrivalled platform to expand the AI agenda globally in our sector. Our longstanding relationship with OPEN Health leadership facilitated early conversations, enabling us to quickly market-test joint solutions, which led to a swift and unanimous decision to formalize this collaboration. This partnership empowers us to redefine the boundaries of what AI can accomplish in healthcare.”

Margot Hannah,  Chief Executive Officer of Scientific Communications at OPEN Health, expressed her enthusiasm for the partnership: “We immediately recognized the need to expand our capabilities and started a dialog with fusion about an exclusive partnership to provide pioneering solutions that integrate OPEN Health’s capabilities with fusion’s cutting-edge expertise in AI and ML. Fusion’s expertise in this area is unparalleled, and we are excited about the possibilities this partnership brings for our clients.”

Steve Duryee, Chief Operating and Transformation Officer at OPEN Health, added, “We are committed to harnessing the power of cutting-edge technologies, including AI, ML, robotic process automation, and data analytics, to drive higher value and improved outcomes for our clients. With the recent launch of our Solutions Innovation Center, and the addition of fusion to our extended team of elite-level technology partners, we are now in the pole position to deliver the most innovative, technologically advanced solutions to our biopharmaceutical partners.”

By integrating with fusion’s advanced technology, OPEN Health underscores its commitment to leading the AI agenda with socially beneficial innovations to drive innovation and efficiency for clients. Contact OPEN Health to set up an interactive demonstration at www.openhealthgroup.com/contact-us.

About OPEN Health
OPEN Health unites world-class scientific, strategic, and creative expertise to solve complex challenges for global biopharma. We are a flexible, global organization, creating high-performing strategic partnerships with our clients. We embrace our different perspectives and strengths to deliver innovative solutions that have a positive impact on commercial and patient outcomes. OPEN Health unlocks possibilities across consulting, HEOR and market access, scientific communications, and patient engagement. To learn more, visit www.openhealthgroup.com.

About fusion
fusion specializes in delivering AI and ML solutions. Known for its advanced technology and innovative approach, fusion aims to transform the pharmaceutical industry by integrating AI-first solutions. To learn more, visit www.fusionagency.solutions.

Attachment

Candice Subero
OPEN Health
candicesubero@openhealthgroup.com

GlobeNewswire Distribution ID 9157597

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Allecra Therapeutics and Acino Sign Exclusive Licensing and Supply Agreement for Allecra’s Novel Antibiotic EXBLIFEP® in Gulf Cooperation Council countries and South Africa

Acino gains commercial rights for EXBLIFEP® (cefepime/enmetazobactam) within the member states of the Gulf Cooperation Council (GCC) and South Africa. EXBLIFEP® has been approved by the U.S. Food and Drug Administration (FDA) and the European Commission (EC) for the treatment of severe infections earlier in 2024.

Saint-Louis, France and Weil am Rhein, Germany and Zurich, Switzerland, June 24, 2024 (GLOBE NEWSWIRE) — Allecra Therapeutics (“Allecra”) and Acino today announced the signing of an exclusive licensing agreement under which Acino gains the rights to commercialise Allecra’s antibiotic drug EXBLIFEP® (cefepime/enmetazobactam) within the Republic of South Africa and the member states of the GCC alliance, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, effective from 12 June 2024. In addition, the companies have signed a supply agreement under which Allecra will supply the cefepime/enmetazobactam finished product in the above territories.

“Acino has established itself as a leader in South Africa and the GCC region. They are an ideal partner to support us as we build towards commercialisation of EXBLIFEP® following our regulatory approvals in the US and EU,” stated Andreas Kranzusch, Chief Financial Officer and Managing Director at Allecra Therapeutics. “This agreement reflects the understanding that there remains a significant global need to address the dangerous increase of resistance to standard-of-care antibiotics, and we look forward to working with Acino to address this.”

“At Acino, we are dedicated to providing novel healthcare solutions to physicians and patients, aiming to alleviate the health burden in emerging markets. We are incredibly excited to partner with Allecra to offer access to this innovative product in two key geographic regions and, potentially, beyond,” said Andrew Bird, CEO (ai) at Acino. “We are committed to expediting the registration process in these designated markets to ensure hospitals’ swift access to EXBLIFEP® as they continue to fight against high-risk infectious diseases in patients.”

About EXBLIFEP® (cefepime/enmetazobactam)

EXBLIFEP® is an intravenous antibiotic fixed-dose combination of enmetazobactam, a novel extended-spectrum β-lactamase inhibitor belonging to the penicillanic acid sulfone class, with the fourth-generation cephalosporin cefepime. Enmetazobactam has been shown to restore the efficacy of cefepime against some multi-drug resistant bacteria, including ESBL-producing pathogens alone or in combination with some resistant β-lactamase mutations as OXA-48 or AmpC, which are increasing in Europe and for which there are few therapeutic alternatives.

EXBLIFEP® demonstrated statistically significant superior overall treatment success in Allecra’s pivotal Phase III ALLIUM trial, which compared 1034 randomized patients receiving either cefepime 2 g/enmetazobactam 0.5 g or piperacillin 4 g/tazobactam 0.5 g every 8 h as 2 h continuous intravenous infusion in a multi-centre, randomized, controlled, double-blind, global study in 112 sites within nineteen countries.

In February 2024, the U.S. Food and Drug Administration (FDA) approved EXBLIFEP® as a treatment for complicated urinary tract infections (cUTI), including pyelonephritis, in patients 18 years and older. In March 2024 the European Commission (EC) granted marketing authorisation for EXBLIFEP® for the treatment of adult patients with cUTI, including pyelonephritis; hospital-acquired pneumonia (HAP), including ventilator-associated pneumonia (VAP); and bacteraemia that occurs in association with, or is suspected to be associated with any of the infections listed previously.

About Allecra Therapeutics

Allecra Therapeutics, founded in 2013, is a private, clinical-stage biopharmaceutical company developing novel therapies to combat antibiotic resistance by overcoming emergent resistance mechanisms. Lead product candidate EXBLIFEP® (cefepime/enmetazobactam), has successfully completed a randomized, controlled, double-blind, global Phase 3 trial compared to standard of care in patients with complicated urinary tract infections (cUTIs). Based on these results, the company has received FDA marketing approval in the U.S. and announced approval in the European Union for EXBLIFEP® earlier this year.

Allecra has significant patent protection covering proprietary enmetazobactam in major territories. Allecra’s investors include Forbion, Andera Partners, Delos Capital, Xeraya Capital, EMBL Ventures, and BioMedPartners. Allecra’s wholly owned French subsidiary is a beneficiary of financial support from Bpifrance and the Région Alsace. Please visit www.allecra.com for further information.

About Acino

Acino is a Swiss pharmaceutical company headquartered in Zurich with a clear focus on selected markets in the Middle East, Africa, Ukraine, the CIS Region, and Latin America. We deliver quality pharmaceuticals to promote affordable healthcare in these emerging markets and leverage our high-quality pharmaceutical manufacturing capabilities and network to supply leading companies through contract manufacturing and out-licensing. For more information, please visit www.acino.swiss.

Acino is part of Arcera, a global company in the life sciences sector headquartered in Abu Dhabi, United Arab Emirates. Arcera was established by ADQ, an Abu Dhabi-based investment and holding company, to build a global life sciences powerhouse poised to make significant contributions to realising the UAE’s aspiration to emerge as a frontrunner in science and technology. To learn more about Arcera, please visit www.arceralifesciences.com.

Attachments

For Allecra Therapeutics:
Andreas Kranzusch, Chief Financial Officer and Managing Director
ir@allecra.com

Gretchen Schweitzer, Trophic Communications, +49 172 8618540
allecra@trophic.eu

For Acino: 
Larisa Bernstein, Global Head of Communications
larisa.bernstein@acino.swiss

GlobeNewswire Distribution ID 9157528

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Dubai Culture recognised twice at GovMedia Conference & Awards

DUBAI: The Dubai Culture and Arts Authority (Dubai Culture) has won two awards at the GovMedia Conference and Awards hosted in Singapore in June, bagging the ‘Digital Initiative of the Year’ award for the Ramadan Heroes initiative and the ‘Campaign of the Year’ award for the Dubai Calligraphy Biennale, both in the Culture and the Arts category.

These reflect the significant impact of Dubai Culture’s initiatives and their ability to reach all segments of society, and the Authority’s commitment to integrating innovation with heritage, thereby enhancing its role in enriching the cultural movement in Dubai.

Through its Ramadan Heroes initiative, a first-of-its-kind virtual local charitable project launched in 2020, in collaboration with strategic partners, Dubai Culture introduced an innovative model of humanitarian work.

The initiative invited community members to contribute by purchasing iftar meals or providing Ramadan boxes filled with food supplies. It continues the Authority’s mission of spreading tolerance within the community, inspiring philanthropists, and supporting underprivileged families. Additionally, the success of the promotional campaign for the first-ever Dubai Calligraphy Biennale reflected efforts to transform public spaces into immersive calligraphic experiences to enrich visitors’ understanding of this art form.

Hala Badri, Director-General of the Dubai Culture and Arts Authority, highlighted the importance of these awards in showcasing the Authority’s efforts to stimulate Dubai’s cultural movement. She said, ‘Dubai Culture remains committed to its societal and cultural responsibilities, and to enhancing the quality of life in Dubai while demonstrating the values of Emirati community benevolence and humanity. Additionally, we aim to elevate the emirate’s unique environment and demonstrate its vast capabilities in attracting creatives and talented individuals. Winning these awards is a testament to Dubai Culture’s record-breaking initiatives and a reflection of its excellence on the local stage. The Authority’s dedication to improving its performance and achieving milestones is unwavering, and fostering a culture of innovation remains a top priority.’

Shaima Rashid Al Suwaidi, Director of the Marketing and Corporate Communication Department at Dubai Culture, indicated that these accolades reflect the importance of the projects implemented by the Authority. She said, ‘These awards show the significance of the projects Dubai Culture implements. Through its various initiatives and programmes, the Authority seeks to embody the essence of its cultural mission and its role in activating the local creative movement, alongside its commitment to cultural and societal responsibilities. The Dubai Calligraphy Biennale has firmly positioned Dubai on the global map and exhibited our dedication to preserving the art of calligraphy. Meanwhile, the Ramadan Heroes initiative has made a noticeable difference in the community by emphasising values of giving and tolerance, in alignment with Dubai’s aspirations and vision to be a global hub for humanitarian work.’

Al Suwaidi expressed the Authority’s pride in winning these awards, which in turn improve its record and reflect its reputation locally.

The GovMedia conference is an annual event highlighting distinguished government projects and initiatives in Asia that contribute to improving the well-being of the region’s population.

Source: Emirates News Agency