Latest news with #Vendor
Associated Press
6 days ago
- Business
- Associated Press
Ascentage Pharma Announces Closing of Placement Shares in Top-Up Placement
ROCKVILLE, Md. and SUZHOU, China, July 17, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) ('Ascentage Pharma' or the 'Company'), a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers, announced the closing of an offshore placement (the 'Offshore Placement'), pursuant to which Dajun Yang Dynasty Trust, an affiliate of the Company's Chief Executive Officer, Dajun Yang, M.D., Ph.D. (the 'Vendor'), offered and sold 22 million ordinary shares, par value US$0.0001 per share, of the Company (the 'Placement Shares') at a price of HKD68.60 per share. In connection with the Offshore Placement, the Vendor has subscribed for, and the Company will issue to the Vendor, 22 million new ordinary shares of the Company (the 'Replacement Shares') at a price of HKD68.60, resulting in net proceeds to the Company of approximately HKD1,492 million (approximately US$190.1 million based on an exchange rate of 1 USD to 7.85 HKD). The issuance of the Replacement Shares is expected to take place by July 28, 2025. The newly issued equity capital in the Company will represent approximately 6.29% of the Company's issued share capital prior to the closing of the Offshore Placement. These transactions were conducted in accordance with the terms of the Placing and Subscription Agreement by and among the Company, the Vendor and J.P. Morgan (Asia Pacific) Limited and Citigroup Global Markets Limited, each in the role of a placing agent, dated July 14, 2025. The Company intends to use the net proceeds for commercialization efforts, including expanding coverage and improving patient access, global clinical development to advance the core pipeline candidates of the Company, as well as infrastructure and working capital to strengthen global operations. The Offshore Placement was made in a transaction outside of the United States to non-U.S. persons in reliance on Regulation S under the Securities Act of 1933, as amended (the 'Securities Act') and the Placement Shares were not offered to any members of the 'public' (within the meaning of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, Chapter 32 of the Laws of Hong Kong). The Replacement Shares will be issued in a transaction not involving a public offering. As such, the offer and sale of the securities described above have not been registered under the Securities Act, or any state securities laws and may not be sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, in the United States, Hong Kong, or elsewhere, and shall not constitute an offer, solicitation or sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. About Ascentage Pharma Group International Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) ('Ascentage Pharma' or the 'Company') is a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers. The company has built a rich pipeline of innovative drug candidates that includes inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53 and next-generation kinase inhibitors. The lead asset, olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with CML in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. It is covered by the China National Reimbursement Drug List (NRDL). The Company is currently conducting an FDA-cleared, global registrational Phase III trial, or POLARIS-2, of olverembatinib for CML, as well as global registrational Phase III trials for patients with newly diagnosed Ph+ ALL and SDH-deficient GIST patients. The second lead asset, lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. The NDA for the treatment of relapsed and/or refractory CLL and SLL just received approval by China's National Medical Products Administration (NMPA). The Company is currently conducting 4 global registrational Phase III trials: the GLORA study of lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response; the GLORA-2 study in patients with newly diagnosed CLL/SLL; the GLORA-3 study in newly diagnosed, elderly and unfit patients with AML; and the GLORA-4 study in patients with newly diagnosed higher risk MDS. Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships and other relationships with numerous leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions, such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute and the University of Michigan. For more information, visit Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma's expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition. These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma's filings with the SEC, including those set forth in the sections titled 'Risk factors' and 'Special note regarding forward-looking statements and industry data' in the Form 20-F filed with the SEC on April 16, 2025, the sections headed 'Forward-looking Statements' and 'Risk Factors' in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited we made or make from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this press release do not constitute projections by the Company's management. As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma's current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of these statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless as may otherwise be required by law. Contacts Investor Relations: Hogan Wan, Head of IR and Strategy Ascentage Pharma [email protected] +86 512 85557777 Stephanie Carrington ICR Healthcare [email protected] +1 (646) 277-1282 Media Relations: Sean Leous ICR Healthcare [email protected] +1 (646) 866-4012
Globe and Mail
09-07-2025
- Business
- Globe and Mail
Spackman Equities Group Inc. Announces Acquisition of Common Shares of SPX Management Limited
Toronto, Ontario--(Newsfile Corp. - July 9, 2025) - Spackman Equities Group Inc. (TSXV: SQG) (" SQG" or the " Company") is pleased to announce that it has completed the acquisition of 2,500,000 common shares (the " SPX Shares") of SPX Management Limited (" SPX") at a deemed price of $2.00 per SPX Share, pursuant to a share sale and purchase agreement between the Company and a shareholder of SPX (the " Vendor"). SPX is a company incorporated in Hong Kong which, together with its subsidiaries, provides full-service sports representation, marketing and sports event management in the Republic of Korea. In exchange for the SPX Shares, the Company issued to the Vendor 2,500,000 common shares of the Company at a price of $2.00 per common share. The acquisition of the SPX Shares constituted an "Expedited Acquisition" in accordance with TSX Venture Exchange Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets and remains subject to final approval by the TSX Venture Exchange (the " Exchange"). All securities of the Company issued in connection with the acquisition are subject to a restriction from trading for four months and a day from the date of issuance. About Spackman Equities Group Inc. The Company is an international investment firm that selectively invests into growth companies that possess proprietary know-how or technologies. Our objective is to originate opportunities to invest into businesses at attractive valuations, build a compelling portfolio of holdings, and deliver the collective value of our investments to our shareholders. The Company invests into public equities as well as privately-held companies. The common shares of the Company on the TSX Venture Exchange under the symbol SQG. Visit for further information On behalf of the Board of Directors of Spackman Equities Group Inc.: Richard Lee, Chief Executive Officer and Director 424 888-3370 leer@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. Forward-Looking Statements Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the final approval of the Exchange of the acquisition of the SPX Shares and the future operations and objectives of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors could cause results to differ materially from those expressed in the forward-looking statements which include, but are not limited to risks relating to: general economic conditions in Canada, the United States and globally; industry conditions; the potential occurrence of changes relating to the business, affairs, financial condition or operations of the Company; unanticipated operating events; competition for and/or inability to retain services and inputs; the potential that capital may not be available on acceptable terms; the need to obtain required final approvals from the Exchange relating to the acquisition of the SPX Shares; stock market volatility; changes in tax laws and incentive programs; and the other factors described in our public filings available at Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Business Wire
08-07-2025
- Business
- Business Wire
Levelpath Recognized in the 2025 Gartner® Hype Cycle™ for Procurement and Sourcing Solutions
SAN FRANCISCO--(BUSINESS WIRE)-- Levelpath, the leader in AI-native procurement platforms, today announced its inclusion in the 2025 Gartner® Hype Cycle™ for Procurement and Sourcing Solutions. The company was recognized as a Sample Vendor for both Generative AI for Procurement and Intake Management, we believe validating Levelpath's pioneering role in transforming procurement through breakthrough AI innovation. The future of procurement is here, and it is intelligent. While procurement teams have struggled with fragmented data, manual processes, and complex workflows, Levelpath has reimagined what is possible. Built from the ground up for the AI era, their platform goes beyond simple automation by thinking, learning, and evolving with your enterprise. Procurement That Thinks for Itself Levelpath's proprietary Hyperbridge reasoning engine does not just process requests; it understands intent, predicts needs, and orchestrates complex workflows across your entire enterprise. Levelpath's results speak for themselves: Tenfold efficiency gains in sourcing and intake management Up to 70% operational efficiency gains $26 billion in enterprise spend managed through Levelpath Sixty percent reduction in cycle times through intelligent automation Complete visibility across all procurement activities in real-time The New Standard for Procurement Excellence In our opinion, the Gartner Sample Vendor inclusion validates what Levelpath customers already know: AI-native architecture delivers transformational results that retrofitted solutions simply cannot match. Here is how we feel Levelpath redefines procurement excellence: Conversational intelligence: Transform how your teams work. Natural language requests become intelligent actions. No training required. No complex interfaces. Just speak to your procurement platform as you would a trusted colleague. Autonomous operations: Levelpath's AI agents proactively manage supplier onboarding, conduct risk assessments, and ensure compliance before you even know there is an issue. Unified intelligence: One platform. One source of truth. Every supplier, every contract, every decision connected through intelligent automation that eliminates silos and accelerates outcomes. Beyond these core capabilities, Levelpath's AI-native architecture delivers specialized solutions that address procurement's most persistent challenges. Intake Management Revolutionized Levelpath transforms the procurement request experience from frustrating to effortless. Users describe what they need in plain English. The platform's AI interprets, validates, and routes requests through the right approvals automatically, ensuring compliance without compromising speed. "We believe this recognition reaffirms Levelpath's commitment to helping procurement teams navigate complexity with cutting-edge solutions that integrate technology, suppliers and business users," said Alex Yakubovich, CEO of Levelpath. "Our focus on AI-native innovation ensures procurement and the business remain competitive and future-ready in the evolving landscape." Trusted by Industry Leaders Fortune enterprises worldwide, including Ace Hardware, Amgen, Coupang, Fortrea, GATX, SiriusXM, SSM Health, and Western Union, have chosen Levelpath to transform their procurement operations. They have experienced rapid deployment, significant ROI and measurable improvements in productivity and efficiency. The competitive advantage of early AI adoption in procurement has never been clearer. Empowering Procurement Leaders Through AI Education Building on this recognition, Levelpath is launching an AI Masterclass series to accelerate AI adoption across the procurement community. The interactive sessions bring together procurement leaders from Fortune enterprises to share proven use cases, exchange best practices and transform AI curiosity into measurable results. From triaging intake requests in seconds to accelerating contract workflows, each monthly session offers attendees actionable playbooks they can implement immediately, creating a collaborative environment where procurement professionals can experiment, innovate and grow together. The Masterclass series addresses the reality that successful AI implementation in procurement requires more than technology, it demands strategic thinking, operational excellence and community learning. Through live Q&As and peer networking, participants gain insights into how AI is reshaping procurement's ability to deliver value, drive compliance and respond to business needs at unprecedented speed. Whether just beginning their AI journey or seeking to deepen expertise, procurement leaders are using these sessions to evolve from AI-curious operators into AI-powered champions, positioning their organizations for competitive advantage in the intelligent procurement era. Join Levelpath's monthly AI Masterclass series starting Friday, July 25th, featuring SSM Health and other Fortune enterprise leaders as they share proven AI procurement strategies and actionable playbooks you can implement immediately, learn more about this ongoing monthly series and register now to transform your procurement operations. To explore the full landscape of AI innovation in procurement and understand where these transformative technologies are heading, download a complimentary copy of the 2025 Gartner® Hype Cycle™ for Procurement and Sourcing Solutions to learn more about Levelpath's recognition. Gartner, Hype Cycle for Procurement and Sourcing Solutions, 2025, Kaitlynn Sommers, Micky Keck, Lynne Phelan, Cian Curtin, Chaithanya Paradarami, Martin Shreffler, 30 June 2025 *GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and HYPE CYCLE is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. About Levelpath Levelpath is the leading AI-native procurement platform transforming how global enterprises manage indirect spend. Built from the ground up for the AI era, our platform unifies procurement operations through intelligent automation, featuring an intuitive stakeholder interface, advanced workflow orchestration, and our proprietary Hyperbridge reasoning engine that delivers real-time intelligence and complete visibility across all procurement activities. Trusted by leading Fortune enterprises worldwide, including Ace Hardware, Amgen, Coupang, Fortrea, GATX, SiriusXM, SSM Health, and Western Union, Levelpath's AI-native architecture enables organizations to collaborate smarter, operate faster, and scale procurement operations that drive measurable business value. Headquartered in San Francisco, Levelpath is backed by Battery, Benchmark, Redpoint Ventures, 01A, Menlo Ventures, NewView Capital, and World Innovation Lab. Learn more at or connect with us on LinkedIn.
Daily Express
08-07-2025
- Business
- Daily Express
Sedafiat embedding sustainability in supply chain
Published on: Tuesday, July 08, 2025 Published on: Tue, Jul 08, 2025 Text Size: Ag Buhtamam emphasised that the initiative reflects Sedafiat's alignment with Malaysia's ambition for a low-carbon economy. Kota Kinabalu: Sedafiat Sdn Bhd has launched a Green Procurement initiative aimed at embedding sustainable practices across its supply chain in support of national and global ESG goals. The announcement was made during the Sedafiat Business Partners Excellence & Sustainability: The Way Forward programme held here, recently. Chief Executive Officer Datuk Ag Buhtamam Ag Mahmun officiated the launch, describing the initiative as a strategic move to integrate environmental responsibility into procurement operations. 'Green procurement is not just about regulatory compliance. It's about creating long-term value for both the environment and the communities we serve,' he said. He emphasised that the initiative reflects Sedafiat's alignment with Malaysia's ambition for a low-carbon economy. 'We want our vendor ecosystem to grow with us in this transition to a Net Zero future,' he said. The initiative encourages vendors to adopt sustainable sourcing, use eco-friendly and recyclable materials, and meet green certification standards. It also promotes greater awareness around ESG audits, compliance reporting, and responsible contract delivery. 'This is about raising the bar, not only for how we procure, but for how we collaborate with suppliers who are aligned with sustainability values,' said Mohd Nasruddin Datuk Dr Mohd Yaakub, who spoke during a dedicated session on ESG and vendor evaluation. Organised by Sedafiat's Procurement, Vendor, Logistics and Inventory (PVLI) Department, the programme featured presentations by internal leaders and representatives from external agencies. Key sessions covered healthcare quality management, new requirements under DOSH, employer responsibilities under PERKESO, and recent amendments to the Sabah Labour Ordinance. Other presentations explored service performance, customer satisfaction, contractual obligations, and Sedafiat's roadmap towards Net Zero initiatives. Mohd Hafrez Razi Bin Ab Razak, who shared the company's sustainability strategy, stated that achieving Net Zero starts with daily decisions and procurement is where impact begins. Around 100 participants attended the event, including vendors, business partners and Sedafiat management representatives. Sedafiat reaffirmed its commitment to building transparent, performance-based vendor relationships guided by continuous improvement and shared sustainability goals. The company also reiterated its alignment with the United Nations Sustainable Development Goals (SDGs), identifying green procurement as a key pillar of future operations. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Observer
23-06-2025
- Business
- Observer
OIA boosts local content spending to RO 265.5 million in 2024
MUSCAT: Local content spending by Oman Investment Authority (OIA), the government's investment arm, totaled RO 265.5 million in 2024, OIA President Abdulsalam bin Mohammed al Murshidi revealed on Sunday. Addressing the Authority's annual media briefing, Al Murshidi stated: 'OIA has fulfilled its role in maximizing local content and supporting small and medium enterprises (SMEs), with spending on SMEs reaching RO 265.5 million by the end of 2024. Of this amount, RO 139 million was allocated to Riyada card holders, increasing the share of SMEs in total supply chain expenditures to 19.8 per cent.' According to the Authority's 2024 Annual Report, the share of local content contractual expenditure within OIA and its subsidiaries rose from 30 per cent to 32.4 per cent in 2024. The contribution to local content is part of OIA's strategy of creating an enabling environment for entrepreneurs, SMEs and innovative startups, particularly those which are adopting and localising advanced technologies and retaining investment capital domestically. This, in turn, drives development, enhancing economic diversification and boosting national competitiveness. In-Country-Value (ICV) development is a main pillar of OIA's objectives. In 2024, the Authority advanced its Ring-Fencing Programme, which is designed to increase the market share of local companies by allocating specific business scopes to Omani firms exclusively. A total of 32 ring-fenced domains were approved in 2024, enabling business opportunities worth RO 71 million to be channeled to local firms in these domains. OIA President Abdulsalam bin Mohammed al Murshidi speaking at the media briefing on Sunday. Furthermore, 38 small and medium enterprises were suitably developed to receive a total of RO 11 million in contracts under its Vendor Development programme. Moreover, OIA launched of the third edition of the mandatory list programme, which stipulates the types of services and products that OIA companies are required to procure from Omani businesses. Included in the latest edition are 311 products and services provided by local vendors. Additionally, the authority implemented a new performance monitoring system for the programme in 2024. Furthermore, in line with maximising local content and empowering small enterprises, the Authority issued a revised version of its procurement and tender policy which obliges contractors to meet specified Omanisation rates. The policy also contributed to improving incentives provided to SMEs and Riyada card holders.
