Julphar’s Board of Directors appoints Jerome Carle as General Manager

Ras Al Khaimah, United Arab Emirates -Sunday, August 27th 2017 [ AETOS Wire ]
The regional leading pharmaceutical company Julphar announced today that its Board of Directors has appointed Jerome Carle as General Manager – effective immediately.
The Board expressed confidence in Jerome’s aptitude and competence to make an immediate impact to the business, to lead the management team and to execute the company’s strategic objectives. The Julphar roadmap – Vision 2020 – will be a key pillar to drive Julphar to the top of the MENA markets.
Commenting on his appointment, General Manager Jerome Carle said: “I am very pleased, honored and humbled to have been appointed to this role, and I would like to thank the members of the Board for their trust. I am thrilled to serve a company that makes a real difference in patients and consumers’ quality of life. Julphar is uniquely positioned in the Middle East and African markets to improve the healthcare system and I am proud to play a role in achieving our company’s mission.”
Jerome Carle joined Julphar in January 2017 as Chief Financial Officer. He has over 20 years of financial expertise in emerging markets and his broad experience has shown his ability to deliver results in challenging environments. He has a proven track-record in the pharmaceutical industry, having served in the most reputable multi-national companies, with a full hand responsibility on the business operations, financials and administration.
About Julphar
Established in 1980, Julphar is one of the largest pharmaceutical manufacturers in Middle East and North Africa, producing over 200 branded products across 16 facilities. Julphar’s mission is to offer high quality medicines at affordable prices. Our product portfolio includes Biotechnology, Wound and Women Care, Adult and Pediatric General Medicines, Gastro and Pain Management, Cardio-Metabolism, Diabetes Solutions and Consumer range. Julphar employs more than 3,000 people around the world and registered revenue of AED 1.45 billion in 2016. For more information, please visit http://www.julphar.net.
Contacts
Julphar

Lama Mohanna, Communication Coordinator

M (+971-50)1740731, T (+971-7)2461461, D  (+971-7)2045722

lama.mohanna@julphar.net

Permalink : http://aetoswire.com/news/4433/en

Kenya’s Captains of Industries and Executives to Swing against HIV/AIDS at AHF Chairman’s Golf Tournament

NAIROBI, Kenya-Saturday, August 26th 2017 [ AETOS Wire ]
(BUSINESS WIRE)-- Today, Kenya’s captains of industries, government officials and executives will converge for the prestigious annual AIDS Healthcare Foundation (AHF) Kenya Chairman’s Golf Tournament at the Kiambu Golf Club in Nairobi.
This year, the tournament shall reach about 350 people with HIV/AIDS information and, as well provide HIV testing services to no less than 150 people.
Since inception in 2014, the AHF Chairman’s Golf Tournament has reached over 1,000 people with essential HIV/AIDS information and testing services.
The tournament strategically targets the nation’s captains of industries, senior government officials and other top business executives who are traditionally left out of HIV programming interventions.
AHF Kenya Chairman’s Golf Tournament honours Ambassador Dr. Stephen Karau, Chairman of the AHF Board of Trustees, who remains a major and active player in HIV/AIDS programming and in the public health sector in Kenya. Through the tournament, Ambassador Karau’s passion of impacting lives becomes projected once again, especially through bringing crucial HIV/AIDS services closer to an important but neglected group.
AHF is a non-profit Global NGO, legally registered in the US in 1987. The organization commenced its operations in Kenya in 2007 and was officially registered as an NGO in June 2008. Currently, AHF works in 9 counties, namely: Makueni, Mombasa, Nairobi, Turkana, Muranga, Nakuru, Kisii, Kilifi and Homabay County, supporting more than 120 health facilities and serving more than 38,000 patients.
AIDS Healthcare Foundation (AHF), the largest global AIDS organisation, currently provides medical care and services to over 805,000 individuals in 39 countries worldwide in the US, Africa, Latin America/Caribbean, the Asia/Pacific Region and Eastern Europe. To learn more about AHF, please visit our website: www.aidshealth.org, find us on Facebook: www.facebook.com/aidshealth and follow us on Twitter: @aidshealthcare and Instagram: @aidshealthcare
Contacts
AHF KENYA MEDIA CONTACT
Faith Ndungu
Program Development and Advocacy Manager
faith.ndungu@aidshealth.org
or
AHF AFRICA MEDIA CONTACT
Oluwakemi Gbadamosi
Senior Manager PR and Communications – Africa Bureau
Oluwakemi.gbadamosi@aidshealth.org

Permalink : http://aetoswire.com/news/4432/en

Celularity, Inc., Accelerates Breakthrough Placental Discovery & Therapeutic Platform

---New Biotechnology Company Accelerates the Delivery of Transformative Innovations in Treatments of Cancer, Inflammatory & Degenerative Diseases, and Functional Regeneration

---Contributions of Capital, More Than 200+ Issued and Pending Patents, Pre-Clinical and Clinical Assets and Commercial Products Obtained from Companies Including Celgene Corporation, Sorrento Therapeutics (Nasdaq: SRNE), United Therapeutics (Nasdaq: UTHR), and Human Longevity, Inc



WARREN, N.J.-Wednesday, August 23rd 2017 [ AETOS Wire ]

(BUSINESS WIRE)-- Celularity, Inc., a newly formed biotechnology company, today announced its acceleration of cell and tissue regenerative therapies to address unmet medical needs in cancer and chronic and degenerative disease. Celularity completed their Series A financing with contributions from several biopharma companies, including Sorrento Therapeutics, United Therapeutics Corporation and Human Longevity, Inc., and entrepreneurial investors.

Celularity has been created through the contributions of extensive intellectual property, clinical-stage assets, basic and clinical research, and development expertise including:

    Several clinical-stage immuno-oncology and regenerative medicine assets and a pipeline of pre-clinical assets
    Proprietary allogeneic (“readily accessible”) immunotherapy platform
    200+ issued and pending patents in cell therapy; robust IP for placental stem cells
    Broad fully human antibody-CAR constructs
    IND-ready joint CD38 immuno-oncology programs
    Commercial-stage functional regeneration products Biovance® and Interfyl®* and pipeline assets
    LifeBankUSA stem cell biorepository with two decades operating expertise

Founded on the pioneering work of Robert Hariri, MD, PhD, in human placenta-derived cellular therapeutics and biomaterials, Celularity’s ability to procure placental stem cells, engineer potential therapies, and deploy potential treatments, positions it to harness the potential of the human placenta and operate along the entire value chain.

“Celularity was formed as a new biotechnology model designed to apply the necessary expertise to harness our placenta discovery platform across a range of unmet medical needs,” said Celularity Founder and Chief Executive Officer, Robert J. Hariri, MD, PhD. “With the support of our investors, we are assembling proven regenerative medicine technology and expertise with the goal of developing transformative therapies for fatal and intractable diseases.” Dr. Hariri was previously chairman, chief scientific officer and chief executive officer of Celgene Cellular Therapeutics and founder of Anthrogenesis Corporation, which Celgene acquired in 2002. Dr. Hariri is also the co-founder of Human Longevity, Inc.

The formation of Celularity leverages seminal work in the discovery of novel biologically active cell populations in the human placenta with broad therapeutic potential. Celularity will draw upon these proprietary and scalable discoveries that derive from the post-partum human placenta – an ethical and renewable source of usable biomaterials. Celularity’s development program is focused on an allogeneic platform, leveraging clinically accessible, immune-tolerant cells and biomaterials from a diverse population of informed-consent donors.

Andrew von Eschenbach, MD, among the founding members of the Celularity Board of Directors and former United States Food and Drug Administration (FDA) Commissioner and Director of the National Cancer Institute said, “The pioneering work of Celularity founder Bob Hariri has unleashed the unique properties of placental derived stem cells which have renewed hope for creating safe and effective therapies for the most challenging degenerative diseases." Dr. von Eschenbach added "Celularity with its focus on accelerating innovation in regenerative medicine can become the leading catalyst for cell therapy to address many of the world's unmet medical needs."

*Interfyl is a registered trademark of Alliqua BioMedical, Inc.

Dr. Henry Ji, President and CEO of Sorrento Therapeutics, said, “We are very excited to participate in the creation of Celularity together with Dr. Hariri and his scientific team as well as global leading biopharmaceutical companies, such as Celgene, Human Longevity Inc., and United Therapeutics. The potential for regenerative therapies in treating a wide array of chronic degenerative conditions is well known. We see important synergies for the oncology field and the potential to enhance our fight against malignant cancers. Celularity’s technologies, assets, and resources will help advance selected Sorrento cellular therapy programs and potentially transform autologous cellular therapies into affordable and accessible allogeneic cell therapies.”

About Celularity, Inc.

Celularity, headquartered in Warren, New Jersey, is a biotechnology company with proprietary, leading-edge technology and Intellectual Property to harness the power of the placenta. Their medicine asset portfolio consists of more than 200 issued or pending patents as well as pre-clinical and clinical assets including CAR constructs for allogeneic CAR-T/NK products, licenses of 100+ immunotherapy assets, and commercial stage biosourcing and functional regeneration businesses. For more information, please visit www.celularity.com. Follow Celularity on Social Media: @Celularity.

About United Therapeutics

United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of innovative products to address the unmet medical needs of patients with chronic and life-threatening conditions.

About Sorrento Therapeutics

Sorrento is an antibody-centric, clinical stage biopharmaceutical company developing new treatments for immuno-oncology, inflammation and autoimmune diseases. Sorrento's lead product candidates include immunotherapies focused on the treatment of both solid tumors and hematological malignancies, as well as late stage pain products. For more information, please visit http://sorrentotherapeutics.com

About Human Longevity, Inc.

Human Longevity, Inc. (HLI) is the genomics-based, health intelligence company creating the world’s largest and most comprehensive database of whole genome, phenotype and clinical data. HLI is developing and applying large scale computing and machine learning to make novel discoveries to revolutionize health. In addition to the HLIQ Whole Genome and HLIQ Oncology, HLI’s business also includes the HLI Health Nucleus, a genomic powered clinical research center which uses whole genome sequence analysis, advanced clinical imaging and innovative machine learning, along with curated personal health information, to deliver the most complete picture of individual health. For more information, please visit http://www.humanlongevity.com or http://www.healthnucleus.com

Contacts

Media:
For Celularity
Olivia Goodman, 212-715-1597
olivia.goodman@finnpartners.com
or
Sorrento Therapeutics, Inc.
Alexis Nahama, DVM, 858-203-4120
anahama@sorrentotherapeutics.com

Permalink : http://www.aetoswire.com/news/4415/en

Publication of Clinical Data Demonstrating Low Immunogenicity and Excellent Efficacy of Nuwiq® in Previously Untreated Patients

LACHEN, Switzerland-Thursday, August 24th 2017 [ AETOS Wire ]

(BUSINESS WIRE)-- Octapharma is delighted to announce the publication of interim data from the NuProtect study (GENA-05, NCT01712438), the first clinical data on treatment with Nuwiq® in previously untreated patients (PUPs), on August 16th 2017 as an Early View article in the internationally renowned medical journal Haemophilia.

The NuProtect study was initiated in March 2013 to investigate the immunogenicity, efficacy and safety of Nuwiq® in PUPs with severe haemophilia A, who are at the greatest risk of developing inhibitors. The ongoing study has enrolled 110 PUPs of any age or ethnicity who will receive Nuwiq® for up to 100 exposure days (EDs), making it one of the largest studies with a single FVIII product. Patients who previously received any FVIII concentrates or blood products containing FVIII are excluded from the study.

The recently published article describes interim results for 66 PUPs treated for at least 20 EDs, the time by which most inhibitors arise. The cumulative incidence (95% confidence interval) was 20.8% (10.7–31.0) for all inhibitors and 12.8% (4.5–21.2) for high-titre inhibitors. The study reported excellent efficacy of Nuwiq® in the prevention of bleeds, with median annual bleeding rates of 0 for spontaneous bleeds and 2.40 for all bleeds. Nuwiq® was also efficacious for the treatment of bleeds (92.4% of bleeds were controlled with one or two infusions) and as surgical prophylaxis (rated as “excellent” or “good” for 89% of surgical procedures). These interim results confirm the excellent haemostatic efficacy reported with Nuwiq® in previously treated patients.

Larisa Belyanskaya, Head of IBU Haematology, said: “We are very excited by the results of the NuProtect study and pleased that these interim data are now available as a publication in the specialist peer-reviewed journal Haemophilia. This is the first study to report data from PUPs treated with a rFVIII produced in a human cell line, and the results further differentiate Nuwiq® from other products on the market.”

Olaf Walter, Board Member at Octapharma, added that “These data demonstrate low immunogenicity of Nuwiq® in PUPs, the patient group at the greatest risk of inhibitor development, and confirm the excellent efficacy observed in previously treated patients. This publication is a further important step towards Octapharma’s goal of enabling patients with coagulation disorders to live a normal life.”

Octapharma would like to thank everyone involved in the study, in particular the patients and their families, without whom this research would not be possible.

About the NuProtect (GENA-05) study

The NuProtect clinical study (NCT01712438) is a phase 3, open-label, interventional clinical study being conducted across 38 centres, to evaluate at least 100 previously untreated patients (PUPs) with severe haemophilia A of all ages and ethnicities enrolled for study up to 100 exposure days (EDs) or 5 years maximum. Patients treated previously with any FVIII concentrates/blood products containing FVIII are excluded. The primary objective is to assess the immunogenicity of Nuwiq® by determining inhibitor activity using the Nijmegen-modified Bethesda assay at a central laboratory. Final data from the NuProtect study are expected to become available in 2019. More information on this trial is available at www.clinicaltrials.gov. An extension study (GENA-15, NCT01992549) will further evaluate the long-term immunogenicity, efficacy and safety of Nuwiq® in PUPs.

About Nuwiq®

Nuwiq® is a 4th generation rFVIII protein1, produced in a human cell line without chemical modification or fusion with any other protein2. Nuwiq® is cultured without additives of human or animal origin2, is devoid of antigenic non-human protein epitopes3 and has a mean half-life of 17.1 hours4,5 and a high affinity for the von Willebrand coagulation factor6. Nuwiq® treatment has been assessed in seven completed clinical trials which included 201 PTPs7,8 (190 individuals) with severe haemophilia A, including 59 children9. Nuwiq® is approved for use in the treatment and prophylaxis of bleeding across all age groups of PTPs with haemophilia A in the EU, US, Canada, Australia, Latin America and Russia. Further worldwide submissions for Nuwiq® are planned.

References:
1. FDA Nuwiq® memorandum (STN 125555), 9 October 2014.
2. Casademunt E, et al. Eur J Haematol 2012; 89: 165-76.
3. Kannicht C, et al. Thromb Res. 2013;131:78-88.
4. Nuwiq® European Public Assessment Report, 22 May 2014.
5. NUWIQ® US Prescribing Information, September 2015.
6. Sandberg H, et al. Thromb Res 2012; 130: 808-17.
7. Valentino LA, et al. Haemophilia 2014; 20(Suppl. 1): 1-9
8. Lissitchkov T, et al. Haemophilia 2017; e-pub ahead of print; doi: 10.1111/hae.13251
9. Klukowska A, et al. Haemophilia 2016; 22, 232-39.

About Haemophilia A

Haemophilia A is an X-linked hereditary disorder caused by FVIII deficiency which, if left untreated, leads to haemorrhages in muscles and joints and consequently to arthropathy and severe morbidity. FVIII replacement prophylactic treatment reduces the number of bleeding episodes and the risk of permanent joint damage. This disorder affects one in every 5,000 to 10,000 men worldwide. Globally, 75% of haemophilia cases are left undiagnosed or untreated. The development of neutralising FVIII antibodies (FVIII inhibitors) against infused FVIII represents the most serious treatment complication. The cumulative risk of FVIII inhibitor development is reported to be currently up to 39%.

About Octapharma

Headquartered in Lachen, Switzerland, Octapharma is one of the largest human protein manufacturers in the world, developing and producing human proteins from human plasma and human cell lines. As a family-owned company, Octapharma believes in investing to make a difference in people’s lives and has been doing so since 1983; because it’s in our blood.

In 2016, the Group achieved €1.6 billion in revenue, an operating income of €383 million and invested €249 million to ensure future prosperity. Octapharma employs more than 7,100 people worldwide to support the treatment of patients in 113 countries with products across three therapeutic areas:

    Haematology (coagulation disorders)
    Immunotherapy (immune disorders)
    Critical care

Octapharma owns six state-of-the-art production facilities in Austria, France, Germany, Mexico and Sweden.

For more information visit www.octapharma.com

Contacts

Octapharma AG
International Business Unit - Haematology
Olaf Walter
Olaf.Walter@octapharma.com
or
Larisa Belyanskaya
Larisa.Belyanskaya@octapharma.com
Tel: +41 55 4512121


Permalink : http://aetoswire.com/news/4418/en

Pradaxa® (dabigatran etexilate) dual therapy showed lower rates of major bleeding versus triple therapy with warfarin in atrial fibrillation patients undergoing stent placement

 ● RE-DUAL PCI™ showed large reductions in the incidence of bleeding complications if Pradaxa® dual therapy was used instead of warfarin triple therapy

● Both Pradaxa® doses tested in RE-DUAL PCI™ have been approved for stroke prevention in atrial fibrillation

● Data were presented as a late-breaker at the ESC Congress 20171 and published in the New England Journal of Medicine2



INGELHEIM, Germany-Sunday, August 27th 2017 [ AETOS Wire ]

(BUSINESS WIRE)-- The RE-DUAL PCI™ trial explored anticoagulation with Pradaxa® (dabigatran etexilate) dual therapy without aspirin in non-valvular atrial fibrillation (AF) patients following percutaneous coronary intervention (PCI) and stent placement: results showed significantly lower rates of major or clinically relevant non-major bleeding events for dual therapy with Pradaxa® when compared to triple therapy with warfarin.1,2 The risk for the primary safety endpoint was 48% lower for Pradaxa® 110 mg dual therapy and 28% lower for Pradaxa® 150 mg dual therapy (relative difference), with similar rates of overall thromboembolic events. Both Pradaxa® doses have been approved by regulatory authorities around the world for stroke prevention in AF. The results were presented today as a late-breaker at the ESC Congress 20171 and have been simultaneously published in the New England Journal of Medicine.2

Approximately 20–30% of patients with AF who are continuously taking an oral anticoagulant (OAC) to reduce their risk of AF-related stroke have coexisting coronary artery disease and may require a PCI using stent placement to improve blood flow to the heart.3 The combination of potent antithrombotic therapies associated with triple therapy with warfarin and two antiplatelets is associated with high rates of major bleeding in these patients.4-7 RE-DUAL PCI™ tested an alternative treatment strategy: dual therapy with Pradaxa® and a single antiplatelet, but without aspirin.

“For physicians treating patients with atrial fibrillation who have undergone percutaneous coronary intervention with stent placement, it is paramount to balance the efficacy required with the risk of bleeding,” said Christopher Cannon, MD, cardiologist at Brigham and Women’s Hospital, lead investigator of RE-DUAL PCI™, and executive director of the Cardiometabolic Trials at the Baim Institute for Clinical Research. “Previously we did not have a lot of dedicated data on non-vitamin K oral anticoagulants in this setting; the results from RE-DUAL PCI™ are relevant to fellow physicians who care for these types of patients and are looking for an effective antithrombotic treatment regimen.”

The results were:1,2

    Incidence of primary endpoint (time to major or clinically relevant non-major bleeding event):
        15.4% for Pradaxa® 110 mg dual therapy versus 26.9% for warfarin triple-therapy, which translates into a 48% lower risk
        20.2% for Pradaxa® 150 mg dual-therapy versus 25.7% for warfarin triple therapy, which translates into a 28% lower risk
    Both Pradaxa® dual therapy groups also showed lower rates of major bleeding (when analysed alone, both for the ISTH* and the TIMI** major bleeding definitions) and total bleeding
    Key secondary endpoint (combining death, myocardial infarction, stroke, systemic embolism and unplanned revascularisation):
        Similar rates of events were observed: 13.7% for the two Pradaxa® dual therapy groups combined, versus 13.4% for warfarin triple therapy

“The results we have seen from RE-DUAL PCI™ are another great piece of evidence on the benefit Pradaxa® can offer patients with atrial fibrillation and their treating physicians; a benefit which has been shown in many situations along the treatment journey,” commented Professor Jörg Kreuzer, Vice President Medicine, Therapeutic Area Cardiovascular, Boehringer Ingelheim. “Especially if you also take into account other recent data like the RE-CIRCUIT™ study in catheter ablation, evidence from ‘real-world studies’ or the results of the RE-VERSE AD™ study in emergency situations. Together, these data paint a really compelling picture of the safety and efficacy profile of Pradaxa.”1,2, 8-18

*ISTH, International Society on Thrombosis and Haemostasis

**TIMI, Thrombolysis In Myocardial Infarction

Please click on the link for ‘Notes to Editors’ and ‘References’: https://www.boehringer-ingelheim.com/RE-DUAL-PCI-ESC-2017

For more information, please visit: www.boehringer-ingelheim.com

Further Media Channels

www.facebook.com/boehringeringelheim

www.twitter.com/Boehringer

Contacts

Boehringer Ingelheim GmbH
Corporate Communications
Media + PR
Friederike Middeke
Phone: +49 6132 – 77 141575
Fax: +49 6132 – 77 6601
E-mail: press@boehringer-ingelheim.com

Permalink : http://aetoswire.com/news/4435/en

The Campaign for Tobacco-Free Kids Urges U.S. Authorities to Investigate British American Tobacco

WASHINGTON-Friday, August 25th 2017 [ AETOS Wire ]
(BUSINESS WIRE)-- Following new allegations about the conduct of British American Tobacco (BAT) in Africa – published today by The Guardian – the Campaign for Tobacco-Free Kids is urging the U.S. Department of Justice and the U.S. Securities and Exchange Commission to investigate BAT and its subsidiaries for possible violations of the anti-bribery and accounting provisions of the Foreign Corrupt Practices Act (FCPA). Tobacco-Free Kids requested the investigation in a letter today to the two government agencies.
British American Tobacco has faced mounting allegations that the company engaged in widespread bribery and corruption in Africa to gain advantage over competitors and stifle government efforts to curb smoking. Earlier this month, the U.K. Serious Fraud Office (SFO) formally launched an investigation of BAT on suspicions of corruption.
An investigative report published on August 18, 2017 by The Guardian revealed new allegations that, for years, BAT secretly and possibly illegally moved millions of U.S. dollars in cash across international borders into the war-torn Democratic Republic of Congo (DRC) allegedly to support the company’s tobacco leaf operations in that country. The new allegations indicate BAT’s operations included engaging with armed rebels involved in the long-standing DRC conflict in order to make secret cash drops used to pay for tobacco leaf from farmers in Auzi, an unmapped town BAT built in the 1950’s, according to The Guardian.
In addition to possible violations of the FCPA, The Guardian report raises questions about whether BAT’s conduct in moving U.S. dollars during the DRC conflict also violates federal anti-money laundering laws, especially as the U.S. has had sanctions in place against the DRC since 2006. The story also exposes BAT’s role in flooding South Sudan with its cheapest cigarette brands following years of war and operating around terrorist networks in Somalia to continue selling cigarettes in the country.
The growing allegations about BAT’s conduct are particularly alarming following the July 2017 merger of BAT and Reynolds American in the United States. The recent merger places BAT in a leading position in the U.S. market and, according to BAT, created the largest tobacco company in the world by operating profits.
“Given British American Tobacco’s decades-long history of calculated deception in the United States and abroad and its re-entry into the U.S. market, the mounting allegations of corruption and mass concealment of funds by BAT must be fully investigated by U.S. regulators for possible violations of the Foreign Corrupt Practices Act and any other applicable criminal or civil laws,” said Matthew L. Myers, President of the Campaign for Tobacco-Free Kids. “This is a company that has proven it cannot and will not play by the rules. Unless and until they are held accountable by governments, shareholders, business partners and the public, the company’s wrongdoing will only continue.”
Alleged corruption within BAT was first publicly exposed in November 2015 when the BBC, and later other news outlets, revealed allegations that the company was engaging in bribery and other corrupt acts that included bribing Ministry of Health officials in Burundi, Comoros and Rwanda, a former Kenyan Minister of Justice and a Member of Parliament from Uganda.
Tobacco use kills more than seven million people worldwide each year. Without urgent action by governments to pass proven tobacco control laws and curb the power and influence of tobacco companies, tobacco use will kill one billion people this century.
Contacts
Campaign for Tobacco-Free Kids
Jenna Mosley, + 1 202-296-5469
jmosley@tobaccofreekids.org

Permalink : http://aetoswire.com/news/4424/en

SHUAA Capital Initiates Procedures for Securities Business Egypt Re-entry

 ● Move underscores belief in the Egyptian market

● Plays to boost UAE-Egyptian mutual economic and trade interests and relations

● Intended to help stimulate the flow of foreign investments into Egypt




Dubai, United Arab Emirates-Monday, August 28th 2017 [ AETOS Wire ]

SHUAA Capital, the United Arab Emirates-based integrated financial services firm, announced that it has formally begun discussions with Egyptian regulators for reintroducing its securities business into the Egyptian market.

As a stepping stone, SHUAA Capital’s Board of Directors has set a clear mandate targeting the Egyptian market for the expansion of the firm’s brokerage services under its broader Capital Markets offering. The decision to restart brokerage operations in Egypt, which was voluntarily suspended previously as the region recovered from the 2008 global recession which impacted trading volumes, is a key component of the Group’s long-term growth strategy, and reflects the firm’s belief in the fundamentals of the Egyptian market and the depth of opportunities available. 

Fawad Tariq-Khan, General Manager of SHUAA Capital, explains: “SHUAA Capital believes there still exists significant untapped potential to serve clients eyeing the Egyptian market with our Securities business. Moreover, we have ambitious plans to extend our platforms further beyond our local jurisdictions, to allow clients both current and prospective, direct access to other markets through a single trading account, blended with a suite of increasingly comprehensive brokerage services. We look forward to relaunching operations soon, with the guidance of the Egyptian authorities and regulators.”

Once reinstated by the respective regulators, SHUAA Securities Egypt will form an important addition to SHUAA’s brokerage network by offering retail and high-net-worth clients from across the region access to the Egyptian capital markets.

Cautionary Statement Regarding Forward-Looking Information:

This document contains forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking statements can be identified by words such as: "anticipate,"

"aspire," "intend," "plan," "goal," "objective," "seek," "believe," "project," "estimate," "expect," "forecast," "strategy," "target," "trend," "future," "likely," "may," "should," "will" and similar references to future periods.
Examples of forward-looking statements include, among others, statements we make regarding:

    Expected operating results, such as revenue growth and earnings.
    Anticipated levels of expenditures and uses of capital
    Current or future volatility in the capital and credit markets and future market conditions.

Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: Our ability to maintain adequate revenue levels and cost control; economic and financial conditions in the global markets and regional markets in which we operate, including volatility in interest rates, commodity and equity prices and the value of assets; the implementation of our strategic initiatives, including our ability to effectively manage the redeployment of our balance sheet and the expansion of our strategic businesses; the reliability of our risk management policies, procedures and methods; continued volatility in the capital or credit markets; geopolitical events; developments and changes in laws and regulations, including increased regulation of the financial services industry through legislative action and revised rules and standards applied by our regulators.

Any forward-looking statement made by us in this document and presentation is based only on information currently available to us and speaks only as of the date on which it is made. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in this document. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.

About SHUAA Capital psc

Established in 1979, SHUAA Capital psc (‘SHUAA’) is an integrated financial services firm headquartered in the United Arab Emirates. The firm services corporate and institutional clients, Governments, family businesses and high-net-worth-individuals with expertise in the areas of asset management, investment banking advisory services, capital markets and credit. SHUAA is a public shareholding company with its shares listed on the Dubai Financial Market. The firm is regulated as a financial investment company by the UAE Central Bank.  www.shuaa.com

Contacts

SHUAA Capital

Mohamed Tahboub

Head of Investor Relations, Corporate Communications & Marketing

+97143651872, mtahboub@shuaa.com / ccdesk@SHUAA.com

www.SHUAA.com


Permalink : http://aetoswire.com/news/4436/en