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Entera Bio Reports Q3 2024 Financial Results and Provides Business Updates

JERUSALEM, Nov. 08, 2024 (GLOBE NEWSWIRE) — Entera Bio Ltd. (NASDAQ: ENTX), (“Entera” or the “Company”) a leader in the development of oral peptides and small therapeutic proteins, today reported financial results and key business updates for the quarter ended September 30, 2024.

“The third quarter of 2024 drew consistent attention to our pivotal–staged clinical asset, EB613, the first oral PTH(1–34) tablet treatment dedicated to post–menopausal women with high risk osteoporosis. Entera’s proprietary N–Tab™ platform consistently delivered across our oral GLP–2 tablet, oral GLP–1/Glucagon tablet and confidential hypoparathyroidism tablet program. Finally, we are humbled by key additions from around the world to our clinical and scientific advisory board which we view as testament to what we are aspiring to build at Entera,” said Miranda Toledano, Chief Executive Officer of Entera.

Ms. Toledano continued, “We are headed into a busy year end across all programs and keenly anticipating FDA’s potential landmark ruling on the ASBMR–FNIH SABRE regulatory endpoint for osteoporosis drugs, expected in January 2025. Current regulatory guidelines requiring fracture outcomes have curtailed innovation in the treatment of this significant disease due to ethical, time and sizing of studies required to evaluate new treatments. The SABRE work is based on a statistical meta–analysis of over 170,000 patients across 53 randomized clinical studies and 7 osteoporosis drug classes correlating total hip Bone Mineral Density (BMD) to fracture outcomes. We believe that our pivotal program for EB613 is first in line to leverage this pathway. Our recent discussions with patients, regulatory agencies, clinicians and fellow industry colleagues acknowledge the need for new treatments for osteoporosis and, especially, oral anabolic therapy. Osteoporosis is one of the foremost underserved women’s health issues globally, where fracture rates continue to rise and where, despite medical guidelines, efficacious injectable anabolics are used in a minority of patients worldwide. We are developing EB613 to help close this treatment gap.”

Q3 2024 Updates:

EB613: First Oral PTH(1–34) Anabolic Tablet Treatment for Women with Osteoporosis

  • In September 2024, new comparative pharmacological data for EB613 was presented at the American Society for Bone Mineral Research September 2024 (ASBMR 2024) Annual Meeting in Toronto. The abstract was previewed by Dr. Serge Ferrari of Geneva University Hospital in Switzerland in his sneak–peak highlights of cutting–edge clinical abstracts on osteoporosis therapy at ASBMR2024.

First GLP–1/Glucagon Agonist (Oxyntomodulin) Peptide Tablets for Obesity

  • In September 2024, Entera and OPKO Health, Inc. (“OPKO”; Nasdaq: OPK), jointly announced topline pharmacokinetic/ pharmacodynamic (PK/PD) results for the oral oxyntomodulin (OXM) tablet program. The program is focused on developing the first oral dual agonist GLP–1/glucagon peptide as a potential once–daily treatment for patients with obesity and metabolic disorders using Entera’s proprietary N–Tab™ platform. Oral OXM exhibited significant systemic exposure across two in vivo models, a favorable PK profile and bioavailability. The high plasma concentrations with prolonged systemic exposure were consistent with the reported half–life for semaglutide (Rybelsus®), the only approved oral GLP–1 analog. Oral OXM showed a statistically significant reduction in plasma glucose levels compared with placebo. Entera plans to present this data together with OPKO at an upcoming clinical conference.

First GLP–2 Peptide Tablets for Short Bowel Syndrome

  • Entera continues pre–IND validation of its oral GLP–2 tablet in partnership with OPKO. Final in vivo PK/PD data is expected in the second half of 2024. This program is being developed as the first potential tablet GLP–2 replacement therapy for patients suffering with Short Bowel Syndrome, a rare and devastating intestinal failure condition. The program may also provide value to other critical conditions of GI inflammation, which is being explored with external parties. 

EB612: First Oral PTH(1–34) Peptide Replacement Therapy Tablets for Hypoparathyroidism

  • Entera continues to collaborate productively with a third party on the oral tablet development of another PTH replacement treatment for hypoparathyroidism.

Financial Results for the Quarter Ended September 30, 2024

As of September 30,2024, Entera had cash and cash equivalents of $6.9 million. The Company expects that its existing cash resources are sufficient to meet its projected operating requirements into the third quarter of 2025.

Research and development expenses for the three months ended September 30, 2024 were $1.5 million, as compared to $1.4 million for the three months ended September 30, 2023. The increase of $0.1 million was primarily due to an increase of $0.5 million in materials required in connection with the optimization processes related to the preparation of the EB613 phase 3 study. The increase was partially offset by a decrease of $0.4 million related to a completed Phase 1 PK, which occurred in 2023.

General and administrative expenses for the three months ended September 30, 2024 were $1.5 million, as compared to $1.0 million for the three months ended September 30, 2023. The increase of $0.5 million was mainly attributable to increases in intellectual property expenses, consultancy fees and share–based compensation.

Operating expenses for the period ended September 30, 2024 were $3.0 million, as compared to $2.4 million for the quarter ended September 30, 2023.

Net loss was $3.0 million, or $0.08 per ordinary share (basic and diluted), for the quarter ended September 30, 2024, as compared to $2.4 million, or $0.08 per ordinary share (basic and diluted), for the quarter ended September 30, 2023.

About Entera Bio

Entera is a clinical–stage company focused on developing oral peptide or protein replacement therapies for significant unmet medical needs where an oral tablet form holds the potential to transform the standard of care. The Company leverages a disruptive and proprietary technology platform (N–Tab™) and its pipeline includes five differentiated, first–in–class oral peptide programs, expected to enter the clinic (Phase 1 to Phase 3) by 2025. The Company’s most advanced product candidate, EB613 (oral PTH (1–34)), is being developed as the first oral, osteoanabolic (bone building) once–daily tablet treatment for post–menopausal women with low BMD and high–risk osteoporosis. A placebo controlled, dose ranging Phase 2 study of EB613 tablets (n=161) met primary (PD/bone turnover biomarker) and secondary (BMD) endpoints. Entera is preparing to initiate a Phase 3 registrational study for EB613 pursuant to the FDA’s qualification of a quantitative BMD endpoint, which is expected to occur by January 2025. The EB612 program is being developed as the first oral PTH (1–34) tablet peptide replacement therapy for hypoparathyroidism. In collaboration with OPKO Health, Entera is also developing the first oral oxyntomodulin, a dual targeted GLP–1/glucagon peptide, in tablet form for the treatment of obesity; and the first oral GLP–2 peptide tablet as an injection–free alternative for patients suffering from rare malabsorption conditions such as short bowel syndrome. For more information, visit www.enterabio.com or follow us on LinkedIn, X (formerly Twitter), Facebook and Instagram.

Cautionary Statement Regarding Forward Looking Statements

Various statements in this press release are “forward–looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements (other than statements of historical facts) in this press release regarding our prospects, plans, financial position, business strategy and expected financial and operational results may constitute forward–looking statements. Words such as, but not limited to, “anticipate,” “believe,” “can,” “could,” “expect,” “estimate,” “design,” “goal,” “intend,” “may,” “might,” “objective,” “plan,” “predict,” “project,” “target,” “likely,” “should,” “will,” and “would,” or the negative of these terms and similar expressions or words, identify forward–looking statements. Forward–looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Forward–looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved.

Important factors that could cause actual results to differ materially from those reflected in Entera’s forward–looking statements include, among others: changes in the interpretation of clinical data; results of our clinical trials; the FDA’s interpretation and review of our results from and analysis of our clinical trials; unexpected changes in our ongoing and planned preclinical development and clinical trials, the timing of and our ability to make regulatory filings and obtain and maintain regulatory approvals for our product candidates; the potential disruption and delay of manufacturing supply chains; loss of available workforce resources, either by Entera or its collaboration and laboratory partners; impacts to research and development or clinical activities that Entera may be contractually obligated to provide; overall regulatory timelines; the size and growth of the potential markets for our product candidates; the scope, progress and costs of developing Entera’s product candidates; Entera’s reliance on third parties to conduct its clinical trials; Entera’s expectations regarding licensing, business transactions and strategic collaborations; Entera’s operation as a development stage company with limited operating history; Entera’s ability to continue as a going concern absent access to sources of liquidity; Entera’s ability to obtain and maintain regulatory approval for any of its product candidates; Entera’s ability to comply with Nasdaq’s minimum listing standards and other matters related to compliance with the requirements of being a public company in the United States; Entera’s intellectual property position and its ability to protect its intellectual property; and other factors that are described in the “Cautionary Statements Regarding Forward–Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Entera’s most recent Annual Report on Form 10–K filed with the SEC, as well as the company’s subsequently filed Quarterly Reports on Form 10–Q and Current Reports on Form 8–K. There can be no assurance that the actual results or developments anticipated by Entera will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Entera. Therefore, no assurance can be given that the outcomes stated or implied in such forward–looking statements and estimates will be achieved. Entera cautions investors not to rely on the forward–looking statements Entera makes in this press release. The information in this press release is provided only as of the date of this press release, and Entera undertakes no obligation to update or revise publicly any forward–looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.

 
ENTERA BIO LTD.
CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)
 
       
  September 30,   December 31,
  2024   2023
  (Unaudited)   (Audited)
   
Cash and cash equivalents 6,915   11,019
Accounts receivable and other current assets 425   238
Property and equipment, net 65   100
Other assets, net 336   408
Total assets 7,741   11,765
     
     
Accounts payable and other current liabilities 1,111   1,091
Total non–current liabilities 178   288
Total liabilities 1,289   1,379
Total shareholders' equity 6,452   10,386
       
Total liabilities and shareholders' equity 7,741   11,765

 
ENTERA BIO LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except share and per share data)

(Unaudited)
 
  Three Months Ended
September 30,
  2024   2023
REVENUES 42   –
COST OF REVENUES 42   –
GROSS PROFIT –   –
OPERATING EXPENSES:      
Research and development 1,477   1,370
General and administrative 1,544   1,028
Other income –   (12)
TOTAL OPERATING EXPENSES 3,021   2,386
OPERATING LOSS 3,021   2,386
FINANCIAL INCOME, NET –   (36)
INCOME TAX –   29
NET LOSS 3,021   2,379
       
LOSS PER SHARE BASIC AND DILUTED 0.08   0.08
       
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE 37,644,612   28,813,952
       


GLOBENEWSWIRE (Distribution ID 9270213)

Lantronix renforce son leadership IdO par l’acquisition stratégique du portefeuille IdO Entreprises de NetComm, filiale de DZS

  • Lantronix offre une connectivité IdO sans fil supérieure grâce à une technologie 5G de pointe
  • Meilleure offre concurrentielle et portefeuille clients élargi à des enseignes prestigieuses

IRIVINE, Californie, 08 nov. 2024 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ : LTRX), leader mondial des solutions IdO de calcul et de connectivité, annonce ce jour la signature d’un accord définitif avec DZS, Inc., visant l’acquisition de l’ensemble des actifs de la branche Internet des objets, ou IdO, de sa filiale NetComm Wireless Pty Ltd (ci–après « NetComm ») pour une enveloppe de 6,5 millions de dollars et la prise en charge d’un certain montant de dette. Cette acquisition confirme l’orientation marquée de Lantronix envers les verticales « Entreprises » et « Urbanisme intelligent » et contribue à élargir son réseau 5G nouvelle génération.

« L’acquisition stratégique du portefeuille IdO de NetComm renforce nos offres de calcul et de connectivité et nous permet de proposer des solutions IdO de pointe à nos clients » indique Saleel Awsare, Président et PDG de Lantronix. Puis d’ajouter : « Cette acquisition développe notre gamme de passerelles, de routeurs et de modems et intègre les derniers produits 5G, ce qui vient renforcer nos solutions d’informatique en périphérie. Elle nous permet également d’accueillir de nouveaux clients prestigieux et nous ouvre des opportunités commerciales croisées, tout en introduisant nos produits sur de nouveaux marchés, riches en opportunités, notamment en Australie et en Nouvelle–Zélande. »

La clôture de l’acquisition est soumise à certaines conditions. Lantronix estime que la transaction prendra fin au cours du deuxième trimestre de l’exercice fiscal 2025. Lantronix s’attend à en tirer des avantages dès sa clôture et entend souligner son orientation stratégique envers les solutions IdO industrielles innovantes de grande échelle. En intégrant ce nouveau portefeuille IdO, Lantronix verra la consolidation de ses solutions de connectivité dans des domaines clés tels que les infrastructures critiques, la surveillance des actifs ou les télécommunications.

Les solutions 4G et 5G permettant une connectivité Ethernet–accessoires mobiles et Wi–Fi® ultra–rapide pour les appareils hébergés dans les environnements les plus exigeants se trouvent au cœur de cette acquisition. Conçus pour les secteurs nécessitant une connectivité robuste et fiable, ces produits présentent des performances à faible latence et des capacités supérieures de gestion à distance. Certaines des entreprises les plus prestigieuses au monde se reposent sur cette suite IdO. Lantronix entend dégager de l’acquisition du portefeuille IdO Entreprises de la filiale NetComm de DZS un chiffre d’affaires compris entre 6 et 7 millions de dollars au cours de l’année civile 2024.

À propos de Lantronix

Lantronix Inc. est un leader mondial des solutions IdO de calcul et de connectivité destinées aux secteurs à forte croissance, notamment l’urbanisme intelligent, l’automobile et les entreprises. Ses produits et services permettent aux entreprises de se démarquer sur les marchés IdO en plein essor via des solutions personnalisables déclinées sur l’ensemble de la pile de l’IdO. Les solutions de pointe développées par Lantronix comprennent une infrastructure de sous–stations intelligentes, des systèmes d’infodivertissement et de surveillance vidéo, mais également une administration hors bande (ou OBB pour Out–of–Band) avancée adaptée au cloud et à l’informatique en périphérie.

Pour en savoir plus, consultez le site Internet de Lantronix.

Le présent communiqué de presse contient des déclarations prospectives, y compris des déclarations relatives aux avantages attendus de l’acquisition du portefeuille IdO Entreprises de la filiale NetComm de DZS, à savoir le renforcement de notre offre concurrentielle, l’intégration de nouveaux clients prestigieux au sein de notre portefeuille et l’ouverture de nouvelles opportunités de croissance pour nos clients IdO, mais aussi à la clôture anticipée de la transaction visée, son calendrier ou les opportunités de croissance qu’elle induit. Ces déclarations prospectives sont soumises aux dispositions dites « Safe Harbor » (ou « Sphère de sécurité ») de la loi américaine Private Securities Litigation Reform Act de 1995. Ces déclarations prospectives reflètent nos attentes et projections actuelles envers les tendances propres à nos activités et notre secteur économique, et d’autres événements futurs. Si nous estimons que nos déclarations prospectives reposent sur une base raisonnable, nous ne pouvons en garantir l’exactitude. Les déclarations prospectives sont assujetties à des risques et incertitudes majeurs qui pourraient faire en sorte que nos résultats ou expériences, nos activités à venir, notre situation financière, nos résultats d’exploitation ou nos performances diffèrent sensiblement de nos résultats passés ou de ceux exprimés ou induits dans toute déclaration prospective du présent communiqué. Les autres facteurs susceptibles de se répercuter négativement sur nos opérations et perspectives futures, ou risquant de provoquer des écarts sensibles entre nos résultats réels et nos attentes comprennent, sans toutefois s’y limiter : notre capacité à finaliser le projet d’acquisition dans les conditions et délais prévus ; notre capacité à intégrer avec succès les actifs qui résultent de sa clôture et à en tirer les bénéfices attendus ; l’hypothèse que certaines conditions de clôture liées à l’acquisition soient insatisfaites ou levées ; les risques liés à toute dette imprévue inhérente aux actifs visés par l’acquisition ; les effets négatifs du contexte économique régional et mondial ou de l’instabilité des marchés sur notre activité, y compris ses effets sur les décisions d’achat de nos clients ; notre capacité à limiter l’apparition de toute faille dans nos chaînes d’approvisionnement et celles de nos fournisseurs et sous–traitants en raison de la pandémie de COVID–19 ou d’autres épidémies, de guerres et conflits récents en Europe, Asie et Moyen–Orient, des hostilités dans la région de la mer Rouge ou d’autres facteurs ; notre capacité à convertir avec succès notre carnet de commandes et à répondre à la demande actuelle ; notre capacité à concrétiser positivement notre stratégie d’acquisition ou à intégrer avec succès les entreprises acquises ; l’incertitude quant à la rentabilité future des entreprises acquises, et les retards dans la matérialisation, ou le défaut de matérialisation de tout avantage lié aux transactions d’acquisition ; l’acquisition, la gestion et l’intégration de nouvelles opérations, activités ou actifs, et le détournement consécutif de l’attention de la direction ou d’autres coûts ou difficultés connexes ; notre capacité à continuer de dégager des recettes des ventes de nos produits sur des marchés matures ; notre capacité à développer, commercialiser et vendre de nouveaux produits ; notre capacité à rencontrer le succès à l’appui de nouvelles offres logicielles ; les fluctuations de notre chiffre d’affaires en vertu du calendrier prévisionnel de commandes de certains clients ; le calendrier incertain de nos recettes induit par le long cycle de vente de nos produits et services et les retards de réalisation potentiels des projets de nos clients ; notre capacité à prévoir précisément la demande future pour nos produits ; les retards accusés dans la qualification des révisions de produits actuels ; les contraintes ou retards d’approvisionnement de certains matériaux ou composants, ou les problèmes de contrôle qualité qui s’y rapportent ; les difficultés de livraison, qualité ou budget de nos produits issus de sous–traitants ou fournisseurs ; les risques liés à l’externalisation de la production et à nos opérations internationales ; les difficultés rencontrées avec nos distributeurs ou revendeurs ; la concurrence intense qui s’exerce dans notre secteur d’activité et la pression de baisse tarifaire qui en découle ; l’augmentation des niveaux de stocks et leur obsolescence ; les erreurs et défauts logiciels ou matériels non identifiés de nos produits ; les risques de cybersécurité ; notre capacité à obtenir les certifications propres à notre secteur ou les permis des autorités réglementaires gouvernementales ; les évolutions juridiques, réglementaires et tarifaires instituées par les autorités américaines et étrangères compétentes ; notre capacité à protéger nos brevets et autres droits de propriété et à ne pas violer les droits de propriété technologique de tiers ; les enjeux liés à la stabilité de nos institutions financières et bancaires et de notre relationnel ; notre niveau d’endettement, notre capacité à rembourser notre dette et les restrictions prévues par nos accords de dette ; l’effet de la hausse des taux d’intérêt ; notre capacité à attirer et à fidéliser du personnel cadre qualifié ; et tous les autres facteurs supplémentaires repris dans notre rapport annuel sous formulaire 10–K déposé pour l’exercice clos le 30 juin 2024 auprès de la Securities and Exchange Commission, la « SEC », le 9 septembre 2024, y compris à la rubrique « Facteurs de risque », alinéa 1A du premier volet de ce même rapport et dans nos autres documents publics également déposés auprès de la SEC. Par ailleurs, les résultats réels peuvent varier en raison de risques et incertitudes supplémentaires dont nous n’avons pas nécessairement conscience à ce jour ou que nous ne considérons pas comme majeurs pour nos activités. En conséquence, il est recommandé aux investisseurs de ne pas se fier indûment aux déclarations prospectives, lesquelles ne sont valables qu’à leur date de publication. Nous déclinons expressément toute intention ou obligation de les mettre à jour postérieurement à ce communiqué en vue de les adapter selon nos résultats réels ou les revirements intervenus dans nos avis ou attentes, sauf si la loi applicable ou les règles du Nasdaq Stock Market LLC l’exigent. Si nous mettons à jour ou corrigeons l’une quelconque de ces déclarations, les investisseurs ne sauraient tenir d’autres mises à jour ou révisions pour garanties. © 2024 Lantronix, Inc. Tous droits réservés. Lantronix est une marque déposée. Les autres marques et noms commerciaux appartiennent à leurs détenteurs respectifs.

Contact médias — Lantronix :
Gail Kathryn Miller
Responsable du Marketing et de la
Communication
media@lantronix.com
949–212–0960

Contact analystes et investisseurs — Lantronix :
investors@lantronix.com


GLOBENEWSWIRE (Distribution ID 9270461)

Lantronix Acelera a Liderança em IoT com Aquisição Estratégica do Portfólio NetComm Enterprise IoT da DZS

  • Expansão do portfólio IoT Wireless Connect da Lantronix com Tecnologia 5G de Ponta
  • Fortalecimento da Oferta Competitiva, Acréscimo de Novos Clientes Blue–Chip

IRVINE, Calif., Nov. 08, 2024 (GLOBE NEWSWIRE) — A Lantronix Inc. (NASDAQ: LTRX), líder global em soluções de IoT de computação e conectividade IoT, anunciou hoje que assinou um contrato definitivo de aquisição da NetComm Wireless Pty Ltd (“NetComm”), subsidiária da DZS, Inc., todos os ativos da unidade de Internet das Coisas (IoT) por US $ 6,5 milhões em dinheiro, e assumindo certas responsabilidades. A aquisição complementa o foco da Lantronix nos mercados verticais de Enterprise e Smart City e expande seus recursos 5G de próxima geração.

“A aquisição estratégica do portfólio de IoT da Netcomm fortalece nossas ofertas de Compute e Connect, fornecendo aos nossos clientes soluções de IoT de ponta”, disse Saleel Awsare, presidente e CEO da Lantronix. “A aquisição expande nosso portfólio de Gateway, Roteadores e Modems, incluindo os mais recentes produtos 5G, aprimorando nossas soluções de Edge Compute. Também adiciona novos clientes empresariais de primeira linha para oportunidades adicionais de vendas cruzadas, abrindo novas oportunidades para os nossos produtos em mercados geográficos não atendidos e ricos em metas, como Austrália e Nova Zelândia.”

O fechamento da aquisição está sujeito a certas condições. A Lantronix prevê o fechamento da transação no segundo trimestre fiscal de 2025. A Lantronix espera que, após o fechamento, a aquisição seja um acréscimo e acelere o foco estratégico da empresa em soluções inovadoras de IoT Industrial em escala. Ao integrar esse novo portfólio de IoT, a Lantronix aprimorará suas soluções de conectividade em áreas de missão crítica, como infraestrutura crítica, monitoramento de ativos e telecomunicações.

No centro desta aquisição estão as soluções 4G e 5G que permitem conectividade Ethernet–to–Cellular e Wi–Fi® ultrarrápidas para máquinas nos ambientes mais exigentes. Projetados para setores que exigem conectividade robusta e confiável, esses produtos oferecem desempenho de baixa latência e recursos superiores de gerenciamento remoto. Algumas das empresas mais proeminentes do mundo confiam nesta suíte de IoT. A Lantronix espera que o portfólio de Empresas NetComm da DSZ gere uma receita entre US $ 6 e US $ 7 milhões no ano de 2024.

Sobre a Lantronix

A Lantronix Inc. é líder global de soluções de IoT de computação e conectividade que visam setores de alto crescimento, incluindo Smart Cities, Automotive e Enterprise. Os produtos e serviços da Lantronix capacitam as empresas a alcançar o sucesso nos mercados de IoT em crescimento, fornecendo soluções personalizáveis que abordam cada camada da pilha de IoT. As soluções de ponta da Lantronix incluem infraestrutura de Subestações Inteligentes, sistemas de Infotainment e Vigilância por Vídeo, complementados com o avançado Out–of–Band Management (OOB) para Cloud e Edge Computing.

Para mais informação, visite o site Lantronix.

Este comunicado de imprensa contém declarações de previsão, incluindo declarações sobre nossas expectativas em relação aos benefícios da nossa aquisição do portfólio corporativo de IoT da NetComm da DSZ, como o fortalecimento da nossa oferta competitiva, trazendo novos nomes de primeira linha para nossa base de clientes e desbloqueando oportunidades de crescimento para nossos clientes de IoT, bem como a conclusão antecipada da aquisição proposta ou a ocasião da mesma e a natureza agregada da aquisição proposta. As declarações de previsão têm por objetivo atender aos requisitos de porto seguro das responsabilidades da Lei de Reforma de Litígios de Títulos Privados de 1995. Nossas declarações de previsão tomam por base nossas expectativas e projeções atuais sobre as tendências que possam nossos negócios e a indústria, e outros futuros eventos. Embora façamos declarações de previsão somente quando acreditamos ter um embasamento razoável para tal, não podemos garantir sua precisão. As declarações de previsão estão sujeitas a riscos e incertezas substanciais que podem fazer com que nossos resultados ou experiências, ou negócios futuros, condição financeira ou resultados ou desempenho das operações, sejam substancialmente diferentes dos nossos resultados históricos, expressos ou implícitos, em qualquer declaração de previsão contida neste comunicado de imprensa. Outros fatores que poderiam ter um efeito adverso relevante nas nossas operações e perspectivas futuras ou que poderiam fazer com que os resultados reais diferissem materialmente das nossas expectativas incluem, mas não estão limitados a: a capacidade de concluir a aquisição proposta nos termos e cronograma previstos; nossa capacidade de integrar os ativos adquiridos com sucesso após o fechamento e obter benefícios antecipados com eles; a possibilidade de que várias condições de fechamento para a aquisição possam não ser satisfeitas ou renunciadas; riscos relacionados a quaisquer passivos imprevistos assumidos com os ativos adquiridos; os efeitos das condições econômicas regionais e mundiais negativas ou piores, ou instabilidade do mercado nos nossos negócios, incluindo efeitos nas decisões de compra dos nossos clientes; nossa capacidade de mitigar qualquer interrupção nas nossas cadeias de fornecimento e nas dos nossos fornecedores devido à pandemia de COVID–19 ou outros surtos, guerras e conflitos recentes na Europa, Ásia e Oriente Médio, hostilidades no Mar Vermelho, ou outras causas; nossa capacidade de converter com sucesso a nossa carteira de pedidos e demanda atual; nossa capacidade de implementar com sucesso a nossa estratégia de aquisições ou integração de empresas adquiridas; incerteza quanto à rentabilidade futura dos negócios adquiridos, e atrasos na realização de, ou na falha em realizar, qualquer acréscimo de transações de aquisição; aquisição, gerenciamento e integração de novas operações, negócios ou ativos, e o desvio associado da atenção da administração ou outros custos ou dificuldades relacionados; nossa capacidade de continuar a gerar receita de produtos vendidos em mercados maduros; nossa capacidade de desenvolver, comercializar e vender novos produtos; nossa capacidade de ter sucesso com nossas ofertas de novo software; flutuações na nossa receita devido ao tempo de pedidos de determinados clientes com base no projeto; tempo imprevisível das nossas receitas devido ao longo ciclo de vendas dos nossos produtos e serviços, e possíveis atrasos na conclusão dos projetos pelos clientes; nossa capacidade de prever com precisão a demanda futura dos nossos produtos; atrasos nas revisões qualificadas dos produtos existentes; restrições ou atrasos no fornecimento de, ou problemas de controle de qualidade com, certos materiais ou componentes; dificuldades associadas à entrega, qualidade ou custo dos nossos produtos dos nossos fabricantes contratados ou fornecedores; riscos relacionados à terceirização das operações de fabricação e internacionais; dificuldades associadas aos nossos distribuidores ou revendedores; intensa concorrência no nosso setor e resultante pressão descendente sobre os preços; aumentos nos níveis de estoque e obsolescência de estoque; erros ou defeitos não detectados de software ou hardware nos nossos produtos; riscos de segurança cibernética; nossa capacidade de obter certificações ou aprovações apropriadas do setor dos órgãos reguladores governamentais; mudanças nas leis, regulamentos e tarifas aplicáveis do governo dos EUA e de outros países; nossa capacidade de proteger patentes e outros direitos de propriedade e evitar a violação dos direitos de tecnologia proprietária de terceiros; questões relacionadas à estabilidade das nossas instituições e relacionamentos financeiros e bancários; nível do nosso endividamento, nossa capacidade de atender nosso endividamento e as restrições dos nossos contratos de dívida; impacto do aumento das taxas de juros; nossa capacidade de atrair e reter gestão qualificada; e quaisquer fatores adicionais incluídos no nosso Relatório Anual no Formulário 10–K do exercício fiscal encerrado em 30 de junho de 2024, arquivado na Comissão de Valores Mobiliários (a “SEC”) em 9 de setembro de 2024, incluindo na seção intitulada “Fatores de Risco” no Item 1A da Parte I desse relatório; e nos nossos outros registros públicos na SEC. Além disso, os resultados reais podem ser diferentes devido aos riscos e incertezas adicionais que não sejam do nosso conhecimento no momento ou que não sejam considerados como relevantes para os nossos negócios. Devido a tudo isso, os investidores não devem depositar confiança indevida em qualquer declaração voltada para o futuro. As declarações de previsão que fazemos são válidas somente a partir da data em que são feitas. Rejeitamos expressamente qualquer intenção ou obrigação de atualizar qualquer declaração de previsão a partir da data de hoje para adequar tais declarações a resultados reais ou mudanças na nossa opinião ou expectativas, exceto conforme exigido por lei ou pelas regras da Nasdaq Stock Market, LLC. Caso façamos alguma atualização ou correção de quaisquer declarações de previsão, os investidores não devem inferir que faremos outras atualizações ou correções futuras.© 2024 Lantronix, Inc. Todos os direitos reservados. Lantronix é uma marca comercial registrada. Todas as outras marcas comerciais são de propriedade de seus respectivos proprietários.

Contato de Mídia da Lantronix:
Gail Kathryn Miller
Gerente de Marketing e
Comunicações Corporativas
media@lantronix.com
949–212–0960

Contato para Analista e Investidor da Lantronix:
investors@lantronix.com


GLOBENEWSWIRE (Distribution ID 9270461)

Lantronix stärkt seine IoT-Führungsrolle durch strategische Übernahme des IoT-Geschäftsportfolios von DZS NetComm

  • Erweiterung des IoT–Wireless–Portfolios von Lantronix mit modernster 5G–Technologie
  • Stärkung des Wettbewerbsangebots und Gewinn neuer Blue–Chip–Kunden

IRVINE, Kalifornien, Nov. 08, 2024 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), ein globaler Marktführer im Bereich IoT–Computing und IoT–Konnektivität, gab heute bekannt, dass es eine verbindliche Vereinbarung zur Übernahme der IoT–Geschäftseinheit von NetComm Wireless Pty Ltd („NetComm“), einer Tochtergesellschaft der DZS, Inc., unterzeichnet hat. Der Kaufpreis beträgt 6,5 Mio. US–Dollar in bar, sowie die Übernahme bestimmter Verbindlichkeiten. Die Übernahme ergänzt den Fokus von Lantronix auf die vertikalen Märkte Enterprise und Smart City und erweitert das Portfolio um hochmoderne 5G–Technologie.

„Die strategische Übernahme des IoT–Portfolios von NetComm stärkt unser Angebot im Bereich Computing und Konnektivität und bietet unseren Kunden modernste IoT–Lösungen“, erklärte Saleel Awsare, Präsident und CEO von Lantronix. „Mit dieser Übernahme erweitern wir unser Portfolio an Gateways, Routern und Modems, einschließlich der neuesten 5G–Produkte, und verbessern unsere Edge–Computing–Lösungen. Darüber hinaus gewinnen wir neue erstklassige Unternehmenskunden dazu, die uns zusätzliche Cross–Selling–Möglichkeiten bieten, und wir erschließen mit unseren Produkten zielgerichtete, unbediente geografische Märkte wie Australien und Neuseeland.“

Der Abschluss der Übernahme ist an bestimmte Bedingungen geknüpft. Lantronix geht davon aus, dass die Transaktion im zweiten Quartal des Geschäftsjahres 2025 abgeschlossen wird. Das Unternehmen erwartet, dass sich die Übernahme unmittelbar wertsteigernd auswirken und die strategische Ausrichtung auf innovative Industrial–IoT–Lösungen im großen Maßstab vorantreiben wird. Mit der Integration des neuen IoT–Portfolios will Lantronix seine Konnektivitätslösungen in missionskritischen Bereichen wie kritische Infrastruktur, Asset Monitoring und Telekommunikation stärken.

Im Mittelpunkt der Übernahme stehen 4G– und 5G–Lösungen, die ultraschnelle Ethernet–zu–Mobilfunk– und Wi–Fi®–Verbindungen für Maschinen in anspruchsvollen Umgebungen ermöglichen. Diese Produkte wurden speziell für Branchen entwickelt, die eine robuste und zuverlässige Konnektivität benötigen, und zeichnen sich durch geringe Latenzzeiten und hervorragende Fernwartungsfunktionen aus. Diese IoT–Suite ist das Produkt der Wahl für einige der führenden Unternehmen auf der ganzen Welt. Lantronix erwartet, dass das Geschäftsportfolio von DZS NetComm im Kalenderjahr 2024 einen Umsatz zwischen 6 und 7 Mio. US–Dollar erzielen wird.

Über Lantronix

Lantronix Inc. ist ein weltweit führender Anbieter von IoT–Lösungen für Rechenleistung und Konnektivität, die auf wachstumsstarke Branchen wie Smart Cities, Automotive und Enterprise abzielen. Die Produkte und Dienstleistungen von Lantronix ermöglichen es Unternehmen, in den wachsenden IoT–Märkten erfolgreich zu sein, indem sie anpassbare Lösungen liefern, die jede Schicht des IoT–Stacks adressieren. Zu den führenden Lösungen von Lantronix gehören die Infrastruktur für intelligente Umspannwerke, Infotainment–Systeme und Videoüberwachung, ergänzt durch fortschrittliches Out–of–Band–Management (OOB) für Cloud– und Edge–Computing.

Weitere Informationen finden Sie auf der Website von Lantronix.

Diese Pressemitteilung enthält zukunftsgerichtete Aussagen, darunter Erwartungen hinsichtlich der Vorteile der Übernahme des Enterprise–IoT–Portfolios von DZS NetComm, wie die Stärkung unseres Wettbewerbsangebots, die Gewinnung neuer erstklassiger Kunden und die Erschließung neuer Wachstumschancen für unsere IoT–Kunden, sowie den erwarteten Abschluss der geplanten Übernahme und deren positive Auswirkungen auf die Ertragslage des Unternehmens. Diese zukunftsgerichteten Aussagen unterliegen den Safe Harbor–Bestimmungen des Private Securities Litigation Reform Act von 1995. Wir haben diese Aussagen auf Basis unserer aktuellen Erwartungen und Einschätzungen der für unser Geschäft relevanten Trends sowie weiterer zukünftiger Entwicklungen getroffen. Obwohl wir davon überzeugt sind, dass unsere Annahmen eine solide Grundlage bieten, können wir ihre Genauigkeit nicht garantieren. Zukunftsgerichtete Aussagen unterliegen wesentlichen Risiken und Unsicherheiten, die dazu führen können, dass unsere tatsächlichen Ergebnisse oder Ereignisse, unsere künftige Entwicklung, unsere Finanzlage, unsere Betriebsergebnisse oder unsere Leistung wesentlich von denjenigen abweichen, die in diesen zukunftsgerichteten Aussagen ausdrücklich oder implizit angenommen werden. Weitere Faktoren, die sich nachteilig auf unser Geschäft oder unsere Zukunftsaussichten auswirken oder dazu führen könnten, dass die tatsächlichen Ergebnisse wesentlich von unseren Erwartungen abweichen, sind unter anderem: Unsere Fähigkeit, die geplante Übernahme zu den erwarteten Bedingungen und in dem erwarteten Zeitrahmen abzuschließen; unsere Fähigkeit, die erworbenen Vermögenswerte nach Abschluss erfolgreich zu integrieren und die erwarteten Vorteile zu erzielen; die Möglichkeit, dass bestimmte Abschlussbedingungen nicht erfüllt oder aufgehoben werden; Risiken im Zusammenhang mit unvorhergesehenen Verbindlichkeiten, die mit den erworbenen Vermögenswerten verbunden sind; die Auswirkungen negativer oder sich verschlechternder regionaler und globaler Wirtschaftsbedingungen oder Marktinstabilitäten auf unser Geschäft, einschließlich möglicher Auswirkungen auf die Kaufentscheidungen unserer Kunden; unsere Fähigkeit, Unterbrechungen in unseren Lieferketten und denen unserer Zulieferer und Partner infolge der COVID–19–Pandemie oder anderer Epidemien, Krisen und Konflikte in Europa, Asien, im Nahen Osten und am Roten Meer zu bewältigen; unsere Fähigkeit, ausstehende Aufträge und die aktuelle Nachfrage erfolgreich zu bedienen; die erfolgreiche Umsetzung unserer Übernahmestrategie und die Integration erworbener Unternehmen; Unsicherheiten hinsichtlich der zukünftigen Rentabilität erworbener Unternehmen und Verzögerungen bei der Realisierung oder der Nichtrealisierung von Gewinnen aus Übernahmen; Herausforderungen bei der Übernahme, Verwaltung und Integration neuer Geschäftseinheiten oder Vermögenswerte und die damit verbundenen Kosten oder Managementaufwendungen; die Fähigkeit, weiterhin Umsätze in gesättigten Märkten zu generieren und erfolgreich neue Produkte zu entwickeln und zu verkaufen; unser Erfolg mit neuen Softwareangeboten; Umsatzschwankungen aufgrund von projektbezogenen Aufträgen bestimmter Kunden; unvorhersehbare Umsatzentwicklungen aufgrund der langen Verkaufszyklen unserer Produkte und Dienstleistungen sowie möglicher Verzögerungen bei der Umsetzung von Kundenprojekten; unsere Fähigkeit, die zukünftige Nachfrage nach unseren Produkten genau vorherzusagen; Verzögerungen bei der Qualifizierung überarbeiteter Produkte; Engpässe oder Verzögerungen bei der Lieferung von Materialien oder Komponenten sowie mögliche Probleme bei der Qualitätskontrolle; Herausforderungen im Zusammenhang mit der Lieferung, der Qualität oder den Kosten unserer Produkte durch Vertragshersteller oder Zulieferer; Risiken, die sich aus der Auslagerung der Produktion und aus internationalen Geschäftsaktivitäten ergeben; Schwierigkeiten mit Distributoren oder Wiederverkäufern; intensiver Wettbewerb in unserer Branche und der daraus resultierende Preisdruck; steigende Lagerbestände und das Risiko veralteter Lagerbestände; unentdeckte Software– oder Hardwarefehler oder Mängel unserer Produkte; Risiken im Bereich der Cybersicherheit; unsere Fähigkeit, erforderliche Branchenzertifikate oder behördliche Genehmigungen zu erhalten; Änderungen der anwendbaren gesetzlichen Vorschriften und Zölle in den USA und anderen Ländern; unsere Fähigkeit, Patente und andere geistige Eigentumsrechte zu schützen und die Verletzung geistiger Eigentumsrechte Dritter zu vermeiden; mögliche Probleme bei der Stabilität unserer Bankbeziehungen und Finanzinstitute; die Höhe unserer Verschuldung und unsere Fähigkeit, diese zu bedienen, sowie Beschränkungen in unseren Kreditvereinbarungen; die Auswirkungen von Zinserhöhungen; unsere Fähigkeit, qualifizierte Führungskräfte zu gewinnen und zu halten; und alle weiteren Faktoren, die in unserem Jahresbericht auf Formular 10–K für das am 30. Juni 2024 endende Geschäftsjahr, der am 9. September 2024 bei der Securities and Exchange Commission („SEC”) eingereicht wurde, einschließlich des Abschnitts „Risikofaktoren“ in Abschnitt 1A von Teil I dieses Berichts, sowie in unseren anderen öffentlichen Einreichungen bei der SEC enthalten sind. Darüber hinaus können die tatsächlichen Ergebnisse aufgrund zusätzlicher Risiken und Unsicherheiten, die uns derzeit nicht bekannt sind oder die wir derzeit als nicht wesentlich für unser Geschäft einschätzen, abweichen. Aus diesen Gründen sind die Anleger dazu angehalten, zukunftsgerichtete Aussagen mit der gebotenen Vorsicht zur Kenntnis zu nehmen. Die in dieser Mitteilung enthaltenen zukunftsgerichteten Aussagen beziehen sich ausschließlich auf den Zeitpunkt ihrer Veröffentlichung. Wir lehnen ausdrücklich jede Absicht oder Verpflichtung ab, zukunftsgerichtete Aussagen nach diesem Datum zu aktualisieren, es sei denn, dies ist gesetzlich vorgeschrieben oder durch die Regeln der Nasdaq Stock Market LLC festgelegt. Wenn wir zukunftsgerichtete Aussagen aktualisieren oder korrigieren, sollten Anleger daraus nicht ableiten, dass wir in Zukunft weitere Korrekturen vornehmen werden. © 2024 Lantronix, Inc. Alle Rechte vorbehalten. Lantronix ist eine eingetragene Marke. Andere Marken und Markennamen sind Eigentum der jeweiligen Inhaber.

Lantronix – Medienkontakt:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949–212–0960

Lantronix – Analysten– und Anlegerkontakt:
investors@lantronix.com


GLOBENEWSWIRE (Distribution ID 9270461)

Bitget Protection Fund Hits $424 Million Average, a 40% Increase from its Initial Commitment

VICTORIA, Seychelles, Nov. 08, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has released the latest valuation of its Protection Fund for October 2024. The fund, an essential safeguard for the exchange indicates the platform’s ongoing measures to secure user assets and uphold financial stability. Throughout October, the Protection Fund experienced notable resilience, with the highest recorded valuation reaching $473 million on October 30. The monthly average stood at $424 million, while the fund’s lowest value was observed at $391 million on October 11. This valuation range shows Bitget’s ability to sustain its protection fund amidst fluctuating market conditions.

The Bitget Protection Fund was launched in 2022 with an initial value of $300 million, aimed at offering an additional level of security for users navigating the crypto market. This initiative was designed to provide a consistent and transparent financial backing that protects users’ digital assets, regardless of market dynamics. Since its inception, Bitget has ensured that the Protection Fund consistently remains well above its initial value, reinforcing the platform’s financial stability and commitment to a secure trading environment.

The Protection Fund’s steady valuation in October 2024 highlights Bitget’s approach to safeguarding assets, even as global crypto markets undergo volatility. By maintaining the fund well above the $300 million threshold, Bitget signals its preparedness to address unforeseen challenges in the industry, thereby supporting user confidence in its platform. This ongoing asset protection effort is integral to Bitget’s goal of providing a reliable environment for crypto investors.

“At Bitget, we focus strongly on creating a secure environment where users can engage with confidence, knowing their assets are protected,” said Gracy Chen, CEO of Bitget. “Our monthly protection report shows our continued focus on financial resilience and transparency. We aim to set a standard for trust and security in the crypto industry. Our users’ safety remains our top priority as we navigate cryptospace together.”

In addition to the Protection Fund, Bitget has implemented a Proof of Reserves (PoR), a mechanism that adds another layer of transparency to its operations. The Proof of Reserves is updated monthly and ensures a 1:1 reserve ratio for user assets. This structure allows users to verify that their holdings are fully backed, enhancing trust in the platform’s asset management practices. PoR serves as a critical component of Bitget’s security framework, offering users a transparent and verifiable record of the platform’s asset reserves.

The monthly Protection Fund report is part of Bitget’s broader strategy to maintain open communication with its users, enabling them to stay informed about the platform’s financial health and its measures for asset protection. The regular reporting on the Protection Fund, alongside the monthly updates of the Proof of Reserves, show Bitget’s commitment to transparency and user empowerment in the crypto sector.

As part of its dedication to user security, Bitget encourages users to review the Protection Fund Valuation Report for October 2024 and to explore the Proof of Reserves details available on the Bitget platform. These resources are accessible for those interested in understanding Bitget’s financial safeguards and commitment to asset protection.

For further information on Bitget’s security measures and transparency practices, users can visit the Protection Fund here.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real–time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world–class multi–chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/905fb373–4475–4457–a16a–6b1dfedc8783
https://www.globenewswire.com/NewsRoom/AttachmentNg/ce6600da–c93b–446b–be5e–65ad3fcc24f4


GLOBENEWSWIRE (Distribution ID 1001012230)

HONGHUA GROUP Made An Appearance at ADIPEC 2024

ABU DHABI, United Arab Emirates, Nov. 08, 2024 (GLOBE NEWSWIRE) — From November 4 to 7, 2024 (local time), the Abu Dhabi International Petroleum Exhibition and Conference 2024 (ADIPEC 2024) was held in Abu Dhabi, the capital of the United Arab Emirates with the theme of artificial intelligence (AI) and sustainable energy transformation. As one of the world's leading enterprises in high–end energy equipment manufacturing, HONGHUA GROUP, a subsidiary of Dongfang Electric Corporation (DEC), made an appearance and showcased its new generation of AI drilling and exploration equipment and comprehensive solutions for oil and gas development at the exhibition.

Untitled

A Media Snippet accompanying this announcement is available by clicking on this link.

At the exhibition, HONGHUA GROUP's high–end petrochemical equipment industry digital sand table brought a new interactive experience and visual impact with the help of augmented reality (AR) technologies, becoming the focus of the exhibition. The sand table demonstrated HONGHUA GROUP's achievements in such key fields as onshore petroleum equipment, offshore equipment, integrated solutions for electric fracturing, and digitalization and new energy technologies in a centralized manner. Altogether six keynote speeches were given at the event, which focused on intelligent drilling system, offshore equipment, fracturing technologies and new energy technologies. The event provided an opportunity for the customers and participants to have a deep understanding of HONGHUA GROUP's innovative technologies and diversified product lines from an intuitive and three–dimensional perspective.

As an international company specializing in the research, design, manufacturing and installation of drilling and well completion equipment and offshore engineering equipment as well as a provider of energy EPC services, HONGHUA GROUP has always been committed to “Providing High–end, Intelligent and Green Energy Equipment and Quality Services to Global Customers”. It has established 5 production bases and 17 subsidiaries and service organizations around the world, and has set up a global service center in Dubai. To this day, HONGHUA GROUP has sold more than 1,000 drilling rigs of varied types to the world, with a cumulative export volume of over USD 5 billion and global rig inventory ranking among top three in the world. In addition, HONGHUA GROUP has consistently assisted the cooperative areas in developing their local production capacity and fostering scientific and technological talents.

“In the future, HONGHUA GROUP will continue to focus on 'Internationalization with High Quality', deepen international cooperation, accelerate the process of equipment intelligence and application of AI technologies by taking energy transformation as an opportunity, promote independently–developed industrial software, demonstrate the global competitiveness of products made in China, in order to create a win–win situation with global customers and partners,” said Wang Xuxiang, President of HONGHUA GROUP.

Source: Dongfang Electric Corporation (DEC)


GLOBENEWSWIRE (Distribution ID 9270169)

Polio Vaccination Campaign in Gaza Misses Thousands of Children

A child receiving his second dose of the polio vaccine at a health clinic in Gaza City. Credit: UNICEF/ Eyad El Baba

By Oritro Karim
UNITED NATIONS, Nov 8 2024 – On November 6, the World Health Organization (WHO) announced that the second round of polio vaccinations in the Gaza Strip has been completed. A total of 556,744 children under ten years of age received the mOPV2 vaccine along with a dose of vitamin A to ensure immunization. However, due to rampant hostilities from the Israeli Defense Forces (IDF), the campaign has not been entirely successful, leading to humanitarian organizations fearing that herd immunity has not been achieved.

During a United Nations (UN) press briefing, Spokesperson for the Secretary-General Stéphane Dujarric informed reporters that despite the numerous access challenges faced by aid personnel, the campaign has been relatively successful. Approximately 103 percent of children in central Gaza were immunized, meaning that more children in this region were reached than expected. 91 percent of the children in southern Gaza received the vaccines.

However, northern Gaza has been of great concern for humanitarian groups due to frequent access challenges and hostilities since September. Preliminary data from the UN suggests that only 88 percent of children in this region received the vaccine.

Figures from the United Nations Children’s Fund (UNICEF) show that there are an estimated 7,000-10,000 children that remain unvaccinated in the Jabalia, Beit Lahiya and Beit Hanoun regions.

According to a press release from the Global Polio Eradication Initiative, at least 90 percent vaccination coverage during each round of the campaign is necessary in order to effectively stop the outbreak in Gaza and prevent the international re-emergence of polio. Due to Gaza’s compromised healthcare, water, and sanitation systems, civilians are particularly vulnerable to the spread of disease.

Escalated hostilities in the Gaza Strip in the days preceding the completion of the second round of vaccinations had significantly hampered immunization efforts. Despite the campaigns in central and southern Gaza having run relatively smoothly, hostilities in northern Gaza in the days preceding the completion of the second round of vaccinations had significantly hampered immunization efforts.

On November 2, the IDF issued an airstrike on a healthcare center in the Sheikh Radwan district of Gaza City. WHO reported that this attack led to six civilians being injured, including four children.

“This attack, during humanitarian pause, jeopardizes the sanctity of health protection for children and may deter parents from bringing their children for vaccination. These vital humanitarian-area-specific pauses must be absolutely respected,” said Dr. Tedros Adhanom Ghebreyesus, Director-General of WHO, in a statement issued to X (formerly known as Twitter).

Attacks in the Gaza Strip have continued after the humanitarian pause designated for the vaccination campaign was lifted. The recent bills passed by the Knesset exacerbate the humanitarian crisis in Gaza as The United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) can no longer play their pivotal role in providing aid.

Israel’s ongoing aerial campaign in Gaza has killed over 43,000 Palestinians, decimated entire neighborhoods, and made areas in the northern region, such as Jabalia, Beit Lahiya, and Beit Hanoun almost uninhabitable.

In a press release from WHO, the situation in northern Gaza has been described as “apocalyptic”. It added that dozens of school-turned-shelters have been targeted by the IDF or evacuated. Tents have been burned and refugees have been shot at. Injured civilians are taken to almost non-functioning healthcare centers, in which life-saving services have been disrupted and essential supplies and equipment have been destroyed.

Additionally, millions have been displaced from their homes, with Gaza being one of the biggest displacement crises in the world. On October 5, IDF Brigadier-General Itzik Cohen informed reporters that civilians from northern Gaza would not be allowed to return to their homes. Cohen cited that troops entered certain areas twice, such as the Jabalia camp, and therefore, allowing Gazans to return there would complicate security efforts. He added that routine humanitarian aid deliveries would be allowed in the southern and central regions of Gaza, but not the north, since, as he claimed, “there are no more civilians left.”

UNRWA’s absence in the Gaza Strip is expected to be severely felt by the approximately 2 million people struggling to stay alive.

“The decision (Israel’s bills banning UNRWA) will further undermine the ability of the international community to provide sufficient humanitarian aid and to save lives in any safe, independent and impartial way. Israel has bombed Palestinians to death, maimed them, starved them, and is now ridding them of their biggest lifeline of aid. Piece by piece, Israel is systematically dismantling Gaza as a land that is autonomous and liveable for Palestinians,” says Sally Abi Khalil, Oxfam Regional Director in the Middle East and North Africa.

On November 6, UNRWA chief Philippe Lazzarini addressed the UN General Assembly, urging the UN to prevent the implementation of Israel’s two most recent bills.

“Without intervention by member states, UNRWA will collapse, plunging millions of Palestinians into chaos,” Lazzarini said. “First, I ask that Member States act to prevent the implementation of the legislation against UNRWA. Second, I ask that Member States ensure that any plan for a political transition delineates UNRWA’s role. Finally, I ask that Member States maintain funding to UNRWA, and do not withhold or divert funds on the assumption that the Agency can no longer operate.”

Lazzarini reminded the General Assembly of the toll that UNRWA and its staff has taken through the duration of the crisis. 239 UNRWA personnel has been killed, and more than two thirds of UNRWA’s facilities had been damaged or destroyed. Lazzarini urged that these violations of international humanitarian law be investigated.

It is estimated that the costs of providing funding to UNRWA in this transitional period will be immense. However, dismantling UNRWA will be particularly costly as well. Through its flash appeal, the UN is seeking over 1.2 billion dollars in funding to assist over 1.7 million people who are facing extreme conditions. Due to the recent banning of UNRWA, these costs are estimated to be much higher. It is crucial for donor contributions to continue as humanitarian aid is still being blocked in northern Gaza. Conditions are expected to further deteriorate as the harsh winter season approaches.

IPS UN Bureau Report

 


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Monsha’at: 23 agreements worth over SAR 580 million signed on Day 3 of Biban 2024

RIYADH, Saudi Arabia, Nov. 08, 2024 (GLOBE NEWSWIRE) — On the third day of the Biban24, organized by the Small and Medium Enterprises General Authority (Monsha'at) under the theme “A Global Destination for Opportunities,” over 23 agreements were signed, along with several project launches valued at more than 580 million SAR. Taking place at the Riyadh Front Exhibition & Conference Center, Biban 2024 aims to drive the growth and development of the Saudi entrepreneurial ecosystem, fostering collaboration among local and international entrepreneurs.

Emphasizing its commitment to advancing entrepreneurship in the Saudi tourism sector, The Tourism Development Fund (TDF) has announced the signing of several landmark agreements with a range of financial institutions — including Arab National Bank, Raedah Finance, Tawkeel Finance, Murabaha Marena, Al Jabr Finance, Taseer Arabia, and Manafea Finance — at Biban24.

In line with Vision 2030, these agreements are fully geared towards strengthening small and medium–sized enterprises in the tourism sector and supporting projects that contribute to the development of local tourism.

Reaffirming its commitment to powering the future of the Kingdom’s SME sector, Monsha’at also signed a strategic agreement with Microsoft Saudi Arabia to equip entrepreneurs with the tools to realize their potential by providing greater access to vital technical and technological guidance, as well as cloud services through the Founder Hub platform.

At the event, Microsoft Saudi Arabia also announced an Entrepreneurship Competition to support the entrepreneurial sector and encourage the growth of SMEs.

Day 3 of Biban 2024 also saw Monsha’at partner with Oracle to enhance incubator and accelerator programs in the Kingdom and beyond. The partnership will leverage Monsha’at and Oracle’s resources to offer cloud services, data analytics tools, and AI solutions to support startups and SMEs.

This included the announcement of Monsha’at’s partnership with Zoom to offer discounted and comprehensive virtual meeting solutions. Google also officially announced a strategic agreement with Monsha’at to launch the Digital Marketing Enablement Initiative.

The final rounds of the Entrepreneurship World Cup also picked up pace, with over 100 finalists taking part in the finals of the annual startup pitch competition.

https://bibanglobal.sa/  

Contact:
Tarek Chahine
tchahine@webershandwick.com


GLOBENEWSWIRE (Distribution ID 1001012167)

Agventure raises $9.5 million from AgDevCo to help expand its canola oil and seed processing in Kenya

NAIROBI, Kenya and LONDON, Nov. 08, 2024 (GLOBE NEWSWIRE) — Specialist agricultural investor AgDevCo is pleased to announce its latest investment in Kenya, into Agventure, a farmer–owned business that is leading the way in regenerative agricultural practices for non–irrigated cereal–based systems.

Agventure was established in 2010 with the mission of enabling Kenyan farmers to develop more sustainable farming practices. Agventure consists of a collective of farmers, researchers, educators, and entrepreneurs working to model, promote, and share regenerative production methods throughout the food system.

Today the group supplies over 45,000 tonnes of food crops into the local market, across a range of crops including wheat, barley, maize, canola, sunflower, green peas, chickpeas, lupins, fava beans and others. Through its Centre of Excellence, the company reaches and trains over 700 small and medium sized farmers across the country, encouraging them to introduce rotational crops including canola, into their farming system to help promote soil health. Agventure then provides a guaranteed offtake for the canola seed, which it processes and sells to the Kenyan market.

AgDevCo’s mezzanine loan of $9.5 million will enable the company to continue to develop its canola oil production capabilities – it sells oil under the Pure Mountain brand in Kenya – allowing the company to increase its volumes purchased from outgrower farmers. It will also help to build Agventure Seed’s platform to supply high quality certified seed to farmers.

AgDevCo’s Managing Director for East Africa, Rebecca Sankar, said, “We are excited to be supporting Agventure in its journey to add more value commodity crops, which increases the availability of high quality, locally produced food for the domestic market and reduces reliance on imports.”

Agventure’s CEO, Don White, said, “Agventure is looking forward to working with AgDevCo to expand and strengthen our business and in doing so expand availability of regenerative agriculture solutions to many more farmers.”

AgDevCo is a specialist investor in African agriculture, growing sustainable and impactful agribusiness, with USD 280m under management. Its vision is a thriving commercial agriculture sector, which benefits both people and planet by investing in and supporting agribusinesses to grow, create jobs, produce, and process food and link farmers to markets. AgDevCo supports its partners to work towards climate sustainability, and where possible, regenerative solutions. AgDevCo has made more than 65 investments to date. More information can be found at www.agdevco.com

Sam Hayley, Senior Investment Manager info@agdevco.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d5aea4cf–23b6–4586–9fb1–cb3afcd63202


GLOBENEWSWIRE (Distribution ID 1001012023)

When the Truth Becomes a Lie: What Trump’s Election Means for the World as we Know it

Donald J. Trump, President of the United States of America, addresses the General Debate of the General Assembly’s 75th session September 2020. Credit: UN Photo/Rick Bajornas

By Mandeep S.Tiwana
NEW YORK, Nov 8 2024 – On the day following the US election, UN Secretary General, Antonio Guterres issued a brief statement commending the people of the United States for their active participation in the democratic process. He wisely omitted to mention that the election of Donald J. Trump – who attempted to overturn the people’s mandate by inciting an insurrection in 2020 – is a major setback for the UN’s worldwide quest to advance human rights and the rule of law.

Trump is a self-avowed admirer of authoritarian strongmen like Russia’s Vladimir Putin and Hungary’s Viktor Orban who disdain international norms that the UN seeks to uphold. Unsurprisingly, questions posed to the UN Secretary General’s spokesperson, Stéphane Dujarric, in a press conference on November 6, ranged from what will be Trump’s response to the war in Ukraine to potential funding cuts that might come with the new US administration to whether the UN has contingency plans ready for when Trump takes office.

The US plays an outsized role in global affairs. Therefore, any changes in policy in Washington impact the whole world. As someone who bears responsibility for stewarding a global civil society alliance, it worries me what a second Trump presidency will unleash.

Even without Trump in power we are living in a world where wars are being conducted with complete disregard for the rules; corrupt billionaires are dictating public policy for their benefit; and greed induced environmental degradation is putting us on a path to climate catastrophe. Hard fought gains on gender justice are in danger of being rolled back.

The first Trump administration showed disdain for the UN Human Rights Council and pulled the US out of vital global commitments such as the Paris Agreement to combat climate change. It restricted support for civil society groups around the world and targeted those that sought to promote sexual and reproductive rights of women. Promotion of democracy and human rights are key pillars of US foreign policy.

It’s deeply concerning that when disinformation and misinformation have assumed pandemic level proportions, the majority of the US electorate have cast their vote in favour of a candidate who ran his campaign on divisive dog whistles, half-truths and outright lies. These tactics have deepened fissures in an already polarized United States.

Families countrywide were left devastated by Trump’s negligence and COVID denialism as president which resulted in tens of thousands of Americans dying of avoidable infections. His administration’s immigration detention and deportation policies instilled fear in minority communities. This time Trump has vowed to deport millions of people.

Trump’s stances on abortion rights have caused women immeasurable suffering in several US states that have introduced laws to ban the procedure. He has promised to accelerate harmful fossil fuel extraction and undoubtedly views gender justice advocates, environmental defenders and migrant rights activists as a threat his power.

Given the stated predilections of Trump and his advisors, opposition politicians, activists and journalists exposing corruption and rights violations are likely to be at risk of enhanced surveillance, intimidation and persecution by the new administration.

At the international level, Trump’s election casts a pall over efforts to ensure accountability for war crimes, crimes against humanity and genocidal actions in the Occupied Palestinian Territories, Sudan and Ukraine due to his tacit support for authoritarian leaders in Israel, Russia and the United Arab Emirates, all of whom are fueling conflicts and causing havoc abroad. A future Trump administration could try to starve the UN of funding to erode the rules based international order, emboldening autocrats.

Even if things appear bleak today, it’s important to remember that there are hundreds and thousands of civil society activists and organisations around the world who remain steadfast in their resolve to celebrate diversity and promote justice and equality. To imagine the future we sometimes have to take heart from the past.

India’s freedom struggle, South Africa’s struggle against apartheid and the civil rights movement in the United States wasn’t won by authoritarian leaders but by brave and determined individuals united in solidarity and determined to resist oppression for as long as it takes.

There is a lesson here for civil society in the US that higher American ideals are worth standing up for and will outlive any sitting president.

Mandeep S. Tiwana is Interim Co-Secretary General of CIVICUS, the global civil society alliance. He also serves as CIVICUS representative to the United Nations.

IPS UN Bureau

 


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