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Adagio Therapeutics Provides COVID-19 Antibody Program Updates as well as Business Highlights and Second Quarter 2021 Financial Results

New Data Supporting Potential of ADG20 for Both the Treatment and Prevention of COVID–19 to be Presented at IDWeek 2021

Patient Population in Global EVADE Phase 2/3 Clinical Trial of ADG20 Expanded following IDMC Assessment

$355.8 Million IPO Completed to Fund Continued Advancement of Portfolio of Antibody–based Solutions for Infectious Diseases with Pandemic Potential

WALTHAM, Mass., Sept. 20, 2021 (GLOBE NEWSWIRE) — Adagio Therapeutics, Inc., (Nasdaq: ADGI) a clinical–stage biopharmaceutical company focused on the discovery, development and commercialization of antibody–based solutions for infectious diseases with pandemic potential, today reported updates on its lead COVID–19 antibody program, ADG20, as well as recent business highlights and second quarter 2021 financial results.

"Across the globe, COVID–19 continues to be a significant health crisis affecting nearly every age group. With the continued emergence of new variants, broadly neutralizing therapies that can be used for both the treatment and prevention of the disease are critical to address the current endemic as well as potential future outbreaks," said Tillman Gerngross, Ph.D., co–founder and chief executive officer of Adagio. "Our team is working closely with our global CRO partners on the execution of our ongoing global clinical trials of ADG20, STAMP and EVADE, while also preparing for the anticipated worldwide commercialization of ADG20, if approved.

"ADG20 is a highly differentiated antibody that we are advancing through pivotal trials for both the treatment and prevention of COVID–19. We are pleased by the recent assessment of unblinded data by the IDMC for the EVADE trial, and their support of our plans to expand enrollment to include adolescents and pregnant or nursing women," said Lynn Connolly, M.D., Ph.D., chief medical officer of Adagio. "To date, we have generated a compelling data package for ADG20 that includes broad neutralization of the original SARS–CoV–2 virus and the known variants of concerns in in vitro models as well as a favorable pharmacokinetic and tolerability profile in our Phase 1 trial. Further, at this year's IDWeek, we will release additional data from our Phase 1 trial as well as details regarding our dose selection process for treatment and prevention, which we believe further support the important role this novel antibody can play in combatting the ongoing pandemic."

ADG20 COVID–19 Program Highlights

  • New ADG20 Data to be Presented in Multiple Posters during IDWeek: At the IDWeek 2021 Virtual Conference, Adagio plans to present additional data highlighting the potential for ADG20 to provide protection from COVID–19 for up to one year based on its extended half–life in humans combined with its broad and potent neutralizing ability demonstrated in laboratory testing. In addition, the data support the evaluation of a 300mg dose, delivered as a single intramuscular injection, in the ongoing Phase 2/3 STAMP (treatment) and EVADE (prevention) global clinical trials. The data will be presented in multiple posters, which will be available to registered attendees on the virtual platform throughout the duration of the conference, being held from September 29 "" October 3, 2021. The presentations include:
    • 1086: A Whole–Body Quantitative System Pharmacology Physicologically–Based Pharmacokinetic (QSP/PBPK) Model that a priori Predicts Intramuscular (IM) Pharmacokinetics of ADG20: an Extended Half–life Monoclonal Antibody Being Developed for the Treatment and Prevention of Coronavirus Disease (COVID–19)
    • 633: Preliminary Results from a Phase 1 Single Ascending–Dose Study Assessing Safety, Serum Viral Neutralizing Antibody Titers (sVNA), and Pharmacokinetic (PK) Profile of ADG20: an Extended Half–Life Monoclonal Antibody Being Developed for the Treatment and Prevention of Coronavirus Disease (COVID–19)
    • 1089: Use of a Whole–Body Quantitative System Pharmacology Physiologically–Based Pharmacokinetic (QSP/PBPK) Model to Support Dose Selection of ADG20: an Extended Half–Life Monoclonal Antibody Being Developed for the Prevention of Coronavirus Disease (COVID–19)
    • 1088: A Whole–Body Quantitative System Pharmacology Physiologically–Based Pharmacokinetic (QSP/PBPK) Model to Support Dose Selection of ADG20: an Extended Half–Life Monoclonal Antibody Being Developed for the Treatment of Coronavirus Disease (COVID–19)
  • Patient Population Expanded in EVADE following IDMC Data Assessment: The independent data monitoring committee (IDMC) for the EVADE Phase 2/3 trial of ADG20 for the prevention of COVID–19 recently provided a recommendation to expand Phase 3 trial enrollment to include adolescents 12 years and older and pregnant or nursing women, as well as a decrease in the protocol–specified, in–clinic post injection monitoring time. The IDMC's recommendations were based on their review of unblinded safety and tolerability data through the Day 28 post–treatment visit from 200 participants enrolled in the Phase 2 lead–in portion of the trial.
  • Partnership with Biocon Biologics Expands the Reach of a Potent and Broadly Neutralizing COVID–19 Antibody Treatment to Patients in India and Select Emerging Markets: In the second quarter of 2021, Adagio partnered with Biocon Biologics Ltd. to combat the ongoing COVID–19 crisis in southern Asia. The partnership provides Biocon rights to manufacture and commercialize an antibody therapy based on ADG20 in India and additional select emerging markets based on the commercial manufacturing process developed for ADG20. As part of the agreement, Biocon will be granted access to data from Adagio's Phase 2/3 clinical trials as well as its anticipated Emergency Use Authorization package and other regulatory submissions to support approval or emergency authorization in India and other select emerging markets.

Recent Business Highlights

  • David Hering, Global COVID–19 Vaccine Expert, Appointed as Chief Operating Officer: Adagio recently appointed David Hering as the company's chief operating officer. Mr. Hering joins Adagio from Pfizer, where he most recently served as the global mRNA business lead, a business specifically created to manage global COVID–19 efforts as well as future vaccines utilizing mRNA technology, and led the launch of the first–ever COVID–19 vaccine in the United States. Prior to his most recent role at Pfizer, Mr. Hering was president, North America at Pfizer, where he led a 700–person organization across a portfolio of vaccine products for COVID–19 and meningococcal and pneumococcal diseases.
  • $355.8 Million Initial Public Offering (IPO) Successfully Completed: In August 2021, Adagio sold 20,930,000 shares of common stock, including the full exercise of the underwriters' option to purchase an additional 2,730,000 shares of common stock at a public offering price of $17.00 per share. The gross proceeds of the offering, before underwriting discounts and commissions and other offering expenses payable by Adagio, were approximately $355.8 million.
  • Collaboration with Scripps: Adagio entered into an exclusive research agreement with The Scripps Research Institute to identify broadly protective vaccine candidates for the prevention of influenza and beta coronaviruses.
  • Board of Directors Expanded with Industry Leaders to Support Future Growth: Adagio recently announced appointments of three industry veterans and area experts to its board of directors:
    • Tom Heyman, former president of the Johnson & Johnson Development Corporation (JJDC);
    • Anand Shah, M.D., former deputy commissioner for medical and scientific affairs at the U.S. Food and Drug Administration (FDA); and
    • Michael S. Wyzga, president of MSW Consulting, Inc. and former CFO of Genzyme

Second Quarter 2021 Financial Results

  • As of June 30, 2021, Adagio had cash, cash equivalents and marketable securities of $392.5 million, which includes net proceeds from its Series C financing completed in April. Pro forma cash, cash equivalents and marketable securities as of June 30, 2021 is $719.6 million after giving effect to our initial public offering which closed on August 10, 2021.
  • Research & development expenses including in–process research and development for the second quarter of 2021 were $37.6 million.
  • Selling, general & administrative expenses for the second quarter of 2021 were $7.1 million.
  • Net Loss for the second quarter was $44.7 million, or $0.18 per share.

About ADG20
ADG20, a monoclonal antibody targeting the spike protein of SARS–CoV–2 and related coronaviruses, is being developed for the prevention and treatment of COVID–19, the disease caused by SARS–CoV–2. ADG20 was designed and engineered to possess high potency and broad neutralization against SARS–CoV–2 and additional clade 1 sarbecoviruses, by targeting a highly conserved epitope in the receptor binding domain. ADG20 displays potent neutralizing activity against the original SARS–CoV–2 strain as well as all known variants of concern. ADG20 has the potential to impact viral replication and subsequent disease through multiple mechanisms of action, including direct blocking of viral entry into the host cell (neutralization) and elimination of infected host cells through Fc–mediated innate immune effector activity. ADG20 is administered by a single intramuscular injection, and was engineered to have a long half–life, with a goal of providing both rapid and durable protection. Adagio is advancing ADG20 through multiple clinical trials on a global basis.

About Adagio Therapeutics

Adagio (Nasdaq: ADGI) is a clinical–stage biopharmaceutical company focused on the discovery, development and commercialization of antibody–based solutions for infectious diseases with pandemic potential. The company's portfolio of antibodies has been optimized using Adimab's industry–leading antibody engineering capabilities and is designed to provide patients and clinicians with a powerful combination of potency, breadth, durable protection (via half–life extension), manufacturability and affordability. Adagio's portfolio of SARS–CoV–2 antibodies includes multiple, non–competing broadly neutralizing antibodies with distinct binding epitopes, led by ADG20. Adagio has secured manufacturing capacity for the production of ADG20 with third–party contract manufacturers through the completion of clinical trials and, if approved by regulatory authorities, through initial commercial launch. For more information, please visit www.adagiotx.com.

Forward Looking Statements
This press release contains forward–looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "expects," "intends," "projects," and "future" or similar expressions are intended to identify forward–looking statements. Forward–looking statements include statements concerning, among other things, the timing, progress and results of our preclinical studies and clinical trials of ADG20, including the timing of our planned IND submissions, initiation and completion of studies or trials and related preparatory work, the period during which the results of the trials will become available and our research and development programs; our ability to obtain and maintain regulatory approvals for, our product candidates; our ability to identify patients with the diseases treated by our product candidates and to enroll these patients in our clinical trials; our manufacturing capabilities and strategy; and our ability to successfully commercialize our product candidates. We may not actually achieve the plans, intentions or expectations disclosed in our forward–looking statements and you should not place undue reliance on our forward–looking statements. These forward–looking statements involve risks and uncertainties that could cause our actual results to differ materially from the results described in or implied by the forward–looking statements, including, without limitation, those risks described under the heading "Risk Factors" in Adagio's prospectus filed with the Securities and Exchange Commission ("SEC") on August 6, 2021 and in Adagio's future reports to be filed with the SEC, including Adagio's Quarterly Report on Form 10–Q for the quarter ended June 30, 2021. Such risks may be amplified by the impacts of the COVID–19 pandemic. Forward–looking statements contained in this press release are made as of this date, and Adagio undertakes no duty to update such information except as required under applicable law.

Contacts:

Media Contact:
Dan Budwick, 1AB
Dan@1abmedia.com

Investor Contact:
Monique Allaire, THRUST Strategic Communications
monique@thrustsc.com

ADAGIO THERAPEUTICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(In thousands, except share and per share amounts)

June 30,
2021		 December 31,
2020
Assets
Current assets:
Cash and cash equivalents(1) $ 392,509 $ 114,988
Prepaid expenses and other current assets 3,550 2,394
Total current assets 396,059 117,382
Deferred offering costs 1,933 ""
Total assets $ 397,992 $ 117,382
Liabilities, Convertible Preferred Stock and Stockholders' Deficit
Current liabilities:
Accounts payable $ 10,716 $ 8,153
Accrued expenses 27,181 4,919
Total current liabilities 37,897 13,072
Early–exercise liability 8 11
Total liabilities 37,905 13,083
Commitments and contingencies
Convertible preferred stock (Series A, B and C) $0.0001 par value; 16,944,484 shares authorized, issued and outstanding at June 30, 2021; 12,647,934 shares authorized, issued and outstanding at December 31, 2020; aggregate liquidation preference of $505,399 and $169,900 at June 30, 2021 and December 31, 2020, respectively 504,711 169,548
Stockholders' deficit:
Common stock, $0.0001 par value; 150,000,000 shares authorized at June 30, 2021 and December 31, 2020; 5,599,240 shares issued and outstanding at June 30, 2021; 28,193,240 shares issued and 5,593,240 shares outstanding at December 31, 2020 1 1
Treasury stock, at cost; 0 shares and 22,600,000 shares at June 30, 2021 and December 31, 2020, respectively "" (85 )
Additional paid–in capital 4,067 154
Accumulated deficit (148,692 ) (65,319 )
Total stockholders' deficit (144,624 ) (65,249 )
Total liabilities, convertible preferred stock and stockholders' deficit $ 397,992 $ 117,382

(1) Pro forma cash, cash equivalents and marketable securities as of June 30, 2021 is $719.6 million after giving effect to our issuance and sale of 20,930,000 shares of our common stock in our initial public offering at the price of $17.00 per share after deducting underwriting discounts, commissions and estimated offering costs which closed on August 10, 2021.

ADAGIO THERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(UNAUDITED)

(In thousands, except share and per share amounts)

Three Months
Ended
June 30,		 Six Months
Ended
June 30,		 Period from
June 3, 2020
(Inception) to
June 30,
2021 2021 2020 (3)
Operating expenses:
Research and development(1) $ 35,067 $ 69,204 $ 48
Acquired in–process research and development(2) 2,500 3,500 ""
Selling, general and administrative 7,124 10,695 50
Total operating expenses 44,691 83,399 98
Loss from operations (44,691 ) (83,399 ) (98 )
Other income (expense):
Interest income 23 32 ""
Other expense (5 ) (6 ) ""
Total other income (expense), net 18 26 ""
Net loss and comprehensive loss $ (44,673 ) $ (83,373 ) $ (98 )
Net loss per share attributable to common stockholders, basic and
diluted		 $ (0.18 ) $ (0.66 ) $ ""
Weighted–average common shares outstanding, basic and diluted 249,769 125,574 21,250,000

(1) Includes related–party amounts of $247 for the three months ended June 30, 2021, $435 for the six months ended June 30, 2021 and $0 for the period from June 3, 2020 (inception) to June 30, 2020.
(2) Includes related–party amounts of $2,500 for the three months ended June 30, 2021, $3,500 for the six months ended June 30, 2021 and $0 for the period from June 3, 2020 (inception) to June 30, 2020.
(3) The results for the period from June 3, 2020 (inception) to June 30, 2020 are the same for the three and six months ended June 30, 2020.


GLOBENEWSWIRE (Distribution ID 8328556)

FDA Clears First Technology to Distinguish between Bacterial and Viral Infections Using the Body’s Immune Response – The MeMed BV® Test and MeMed Key® Platform

FDA Clears First Technology to Distinguish between Bacterial and Viral Infections Using the Body's Immune Response "" The MeMed BV Test and MeMed Key Platform

  • MeMed BV is a first–of–its kind test that decodes the immune response to accurately distinguish between bacterial or viral infections within minutes
  • MeMed Key is a pioneering platform that enables rapid and sensitive measurements of multiple proteins at the point–of–need
  • The MeMed technology suite enables better informed antibiotic treatment decisions, an essential tool in the fight against the global threat of resistant bacteria

HAIFA, Israel, Boston, MA; September 20th, 2021 "" MeMed, a leader in the emerging field of advanced host–response technologies, today announces that the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance for use of the MeMed BV test on the point–of–need platform MeMed Key to help healthcare providers distinguish between bacterial and viral infections. The technology has been cleared for both children and adults.

Bacterial and viral infections are often clinically indistinguishable, leading to the prescription of antibiotics for the treatment of viral infections, for which they are ineffective. Antibiotic misuse drives the emergence of antimicrobial resistance (AMR), one of the biggest healthcare challenges of our time.
The novelty of MeMed's technology is that it decodes the body's immune response to infection, the "host response', rather than focusing on detecting the presence of a microbe. This allows robust diagnosis when the infection site is inaccessible or unknown, even when the pathogen is undetectable using conventional tests, or when the cause of infection are emerging new pathogens. It enables better informed antibiotic treatment decisions, an essential tool in the fight against resistant bacteria.

"For those of us who care for acutely ill children, we have been waiting decades for accurate, rapid diagnostics to confidently guide the care of moderately ill children without a clear focus of infection or recognizable viral illness. This novel test offers promise to help differentiate those children with self–limited viral illness from those with possible bacterial infection, thereby supporting the judicious use of antibiotics," said Rich Bachur, MD, Professor of Pediatrics and Emergency Medicine, Harvard Medical School, and Chief, Division of Emergency Medicine, Boston Children's Hospital.

"It has been a decade long journey to reach this point from concept to impacting patient lives," said Dr. Eran Eden, MeMed's co–founder and CEO. "This FDA clearance is a breakthrough moment in the field of advanced host–response and could not have been achieved without the dedication of the MeMed team, our clinical partners in the US and around the globe, and the support of the US Department of Defense and EU Commission."

Sergey Motov, MD, Professor of Emergency Medicine, Maimonides Medical Center, New York, said: "Host–response technologies are a new frontier in the management of patients with infectious diseases, with great potential to improve patient outcomes. Every day, I see adults with a complicated medical history presenting to the emergency room with a suspected respiratory tract infection. A technology like MeMed BV can significantly aid in their management."

"We are now using MeMed BV in my department routinely to aid in determining whether a child with fever has a bacterial or viral infection. For example, we recently had a complicated case of a young child with fever but without a clear source. MeMed BV helped in early identification of a severe bacterial infection, that would otherwise be masked by viral PCR detection, lead to a change in the course of treatment, and made a big difference in the patient's outcome," said Dr Adi Klein, Director of the Pediatric Division, Hillel Yaffe Medical Center and Head of the Israeli Clinical Pediatric Society. "Introducing MeMed's technology has had a significant impact on our medical practice, enabling us to be better stewards of antibiotics and improving patient outcomes."

FDA clearance was based on a multi–center blinded clinical validation study enrolling over 1,000 children and adults and addresses goals laid out in the US National Action Plan for Combating Antibiotic Resistant Bacteria. The test provides highly accurate results with Area Under the Curve of 90% and 97% (primary and secondary endpoints). MeMed has established its US base in Boston and is ramping up commercial activities to ensure broad availability of its products across the US.

About MeMed
Our mission is to translate the immune system's complex signals into simple insights that transform the way diseases are diagnosed and treated, profoundly benefiting patients and society. To learn more about MeMed and our solutions, please visit http://www.me–med.com

About MeMed BV
MeMed BV is a first–of–its–kind immune–based protein signature test, developed and validated over the course of decade–long collaborations with leading academic and commercial partners. It provides physicians with an indispensable tool to help distinguish between bacterial and viral infections across multiple pathogens, even if the infection site is inaccessible or unknown. MeMed BV measures and computationally integrates the levels of three immune system proteins: TRAIL, IP–10 and CRP. When run on the MeMed Key platform, MeMed BV provides a result within 15 minutes. MeMed BV has been independently validated on thousands of patients and the results have been published in leading peer–reviewed journals (including Pediatrics, The Lancet ID, PLOS One, BMJ Peds and European Journal of Clinical Microbiology & Infectious Diseases). The MeMed BV test has received a CE Mark in Europe and AMAR clearance from the Israeli Ministry of Health.

About MeMed Key
MeMed Key is a pioneering technology platform, enabling highly sensitive measurements of multiple proteins, within minutes, at the point of need. It opens the way to quantification of a vast array of human proteins in healthy and disease states, where and when it actually matters. The MeMed Key development program has been partially funded by the US Department of Defense and the EU Commission. MeMed Key has received a CE Mark in Europe and AMAR clearance from the Israeli Ministry of Health.

MeMed Contacts:
Adee Mor, VP Marketing, MeMed
pr@me–med.com
Kfir Emmer, CFO, MeMed
kfir.emmer@me–med.com

Media relations contact:
Consilium Strategic Communications MeMed@consilium–comms.com

Please click here to see the full release in Hebrew


GLOBENEWSWIRE (Distribution ID 1000547867)

Ceridian partners with PwC in Mauritius to drive Enterprise-Wide Human Capital Management Transformation

EBÈNE, Mauritius, Sept. 17, 2021 (GLOBE NEWSWIRE) — Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital management (HCM) technology, and PwC Mauritius announced an alliance where PwC Mauritius will provide consultation and implementation services to organisations seeking to optimise their operations through Ceridian's award–winning HCM platform, Dayforce.

Trusted by more than 5,100 customers globally, Ceridian applies modern technology to help HR and business leaders create value in a fluid, always–on workplace. Organisations benefit from a single solution for HCM that combines HR, payroll, benefits, workforce management, and talent management.

"PwC is one of the leading providers of consulting services to some of the world's largest enterprises. Through this strategic partnership, PwC will help organisations seamlessly integrate our modern Dayforce platform into their technology ecosystems, while delivering enhanced choice, scale, and innovation," said Raja Nucho, Senior Vice President and Chief Partner Officer, Ceridian. "We're thrilled to partner with PwC to deliver shared knowledge, industry expertise, and best–in–class services to our mutual customers."

Ceridian's collaboration with PwC Mauritius is part of the Ceridian Partner Network, through which businesses can access holistic services to modernise their HCM processes. System integrator partners combine their Ceridian expertise with deep advisory services to provide expert guidance on organisational, functional, and process development at the industry, regional, or global level.

"We're excited to work with PwC Mauritius to help organisations transform their human capital management processes for a redefined future of work," said Vidia Mooneegan, Managing Director, Ceridian Mauritius. "Our partnership will help businesses to modernise their operations to meet the increasingly borderless, fluid, and on–demand nature of work."

"The global collaboration between Ceridian and PwC has reached the African continent, and it's a privilege that the regional market expansion will be driven from Mauritius. As we help our clients prepare their organisation for the future of work and address challenges of the workforce of the future, we are collaborating with world class solution partners like Ceridian to accelerate our clients' business transformation, and build sustainable solutions for them," said Jean–Pierre Young, PwC Mauritius Advisory Leader.

Ceridian's system integrator network delivers a world–class buying and service experience from beginning to end. With a focus on customers, it provides clear expectations at each stage of engagement alongside tight integration across stakeholders.

Learn more about the Ceridian Partner Network here: https://www.ceridian.com/partners.

About Ceridian

Ceridian. Makes Work Life Better.

Ceridian is a global human capital management software company. Dayforce, our flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. Our platform is used to optimise management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organisations of all sizes. Visit Ceridian.com or follow us @Ceridian.

Media Contact:
Fahd Pasha
647.417.2136
Fahd.pasha@ceridian.com

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 157 countries with over 276,000 people who are committed to delivering quality in assurance, advisory and tax services.

PwC in Mauritius is recognised as a thought leader and a change initiator, where more than 300 professional staff combine the resources of our global network with detailed knowledge of local issues. We favour an industry approach to serve a large number of companies doing business in Mauritius, ranging from multinationals, a cross section of local businesses, to public institutions. Find out more by visiting us at www.pwc.com/mu.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

2021 PwC. All rights reserved.

Media Contact:
Ariane Serret
+230 57473121
ariane.serret@pwc.com

Two photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/9d44cc48–beec–48fa–a330–d2636a107319

https://www.globenewswire.com/NewsRoom/AttachmentNg/5b62f277–68ed–4521–8233–d51be9ebd376


GLOBENEWSWIRE (Distribution ID 8327542)

Dante Labs Announces Appointment of Global Legal Expert Rachel Haverfield as General Counsel to its Expanding Leadership Team

CAMBRIDGE, United Kingdom, Sept. 16, 2021 (GLOBE NEWSWIRE) — Dante Labs, a global leader in genomics and precision medicine, today announced the appointment of Rachel Haverfield to the company's leadership as General Counsel to drive the growth and scale of the business and opportunity.

"We are so pleased to have Rachel joining Dante's growing leadership of top talent in the industry," said Andrea Riposati, CEO of Dante Labs. "Rachel's global, legal commercial, regulatory and compliance expertise will be instrumental to Dante Labs as we empower governments, patient groups and individuals worldwide with actionable, clinically–relevant whole genome based insights and personalized medicine."

Rachel Haverfield joins Dante Labs as General Counsel. As a dynamic international in–house lawyer with major law firm, public and private company experience, Rachel will serve as principal legal advisor and manager on all transactions, intellectual property matters, corporate governance, mergers and acquisitions at Dante Labs. Prior to joining Dante, Rachel was Vice President of Legal EMEA at Illumina based in Cambridge.

"I'm thrilled to be joining Dante Labs at this exciting time when genomics is emerging as essential to healthcare and is resulting in better outcomes for patients," said Rachel Haverfield, General Counsel of Dante Labs. "I'm excited to join this team of experts aligned in our mission to scale the business globally in order to bring a more human approach to healthcare."

About Dante Labs
Dante Labs is a global genomic data company building and commercializing a new class of transformative health and longevity applications based on whole genome sequencing and AI. Our assets include one of the largest private genome databases with research consent, a proprietary software platform designed to unleash the power of genomic data at scale and proprietary processes which enable an industrial approach to genomic sequencing.

Headquartered in Cambridge, United Kingdom, with a research laboratory in Wolverhampton, Dante Labs supported the UK Government's urgent requirement to scale–up a high–capacity, highly automated testing solution for Covid–19, including infected patients as well as those with antibodies. Dante Labs was able to deliver by leveraging existing technology that had been developed for whole genome sequencing.

Contact
Giorgio Lodi
media@dantelabs.com
+39 0862 191 0671
www.dantelabs.com


GLOBENEWSWIRE (Distribution ID 8327059)

Sweegen Delights China's Consumers With Premiumization of Low-Calorie Confectionery Chocolate

Rancho Santa Margarita, Calif., Sept. 16, 2021 (GLOBE NEWSWIRE) — As Asia–Pacific's chocolate market diversifies and consumer tastes gravitate to sophistication, Sweegen has expanded its footprint into China by formulating premium low–calorie confectionery chocolate for the brand TeChoco.

"Sweegen has demonstrated the near–impossible task of formulating low–calorie great–tasting confectionery chocolate products with low to no sugar," said SVP, Head of Global Innovation, Shari Mahon. "Now, consumers can enjoy premium chocolates with high–quality and health–conscious ingredients without the guilt and negative health benefits from sugar."

Formulating chocolate confectionery products is complex. In addition to innovating around interesting textures, desirable flavors, and attractive colors, the biggest challenge in formulating confectionery chocolate is bitterness. The higher percentage of cocoa in products is typically met with more bitterness and less sugar, but healthier.

"Taste modulation is an ideal option for product developers specializing in health and wellness confectionery chocolate to resolve the impression of bitter off–notes and controlling sweetness and lingering after–tastes," said Mahon. "Texture can improve mouthfeel and help to elevate the indulgent appeal of chocolate."

According to Mintel, more than half of Chinese consumers buy confectionery chocolate to treat themselves. Even though consumers in China seek to experience indulgence in their sweet snacks, they are mindful of maintaining a good weight, health, and wellness. Sugar intake is anticipated to decrease as a health and wellness goal in the "Healthy China 2030" initiative is to reduce sugar consumption by at least 17 percent. Yet, health problems linked to obesity and diabetes are of concern to government health officials because China consumes approximately 15 million tons of sugar annually.

TeChoco confectionery chocolate sales are skyrocketing at more than 2000 retail stores, both online and in brick–and–mortar shops, including powerhouse e–commerce giants TaoBao and DMall, and convenience stores Bianlifeng, and Japan's Lawson for China. Lawson alone has more than 3,000 stores in China, which are found in and around five major cities.

"TeChoco is on the forefront of innovating better–for–you confections with higher levels of cacao content," said Mahon. "They are a brand example of health and wellness products for sugar reduction in China, focusing on full solutions for using natural sweeteners in conjunction with taste modulation to drive consumer acceptance on products to mimic the indulgent products they prefer and desire."

As TeChoco sales continue, the products are promising for other Asia–Pacific countries, including Singapore and Malaysia, where Sweegen has its Signature Reb M stevia approval. Sweegen will establish an Asia–Pacific Innovation Studio in Singapore within the next 12 months, where brands can leverage local tastes and explore solutions to create delicious zero–sugar products.

Sweegen anticipates the approval of Reb M in China. With the arrival of a better–tasting natural sweetener, the company foresees the China market developing more products with reduced sugar and consumer–preferred tastes.

Sweegen offers brands cost–effective and rapid innovation sugar reduction solutions. Its robust Taste Modulation portfolio is essential for helping to block bitterness, boost the perception of sweetness, manage a lingering note, enhance mouthfeel, or reduce astringency in confectionery, beverage, dairy, savory, and bakery products.

###

About SweeGen

Sweegen provides sweet taste solutions for food and beverage manufacturers around the world.

We are on a mission to reduce the sugar and artificial sweeteners in our global diet. Partnering with customers, we create delicious zero–sugar products that consumers love. With the best Signature Stevia sweeteners in our portfolio, such as Bestevia Rebs B, D, E, I, M, and N, along with our deep knowledge of flavor modulators and texturants, Sweegen delivers market–leading solutions that customers want, and consumers prefer.

For more information, please contact info@sweegen.com and visit Sweegen's website, www.sweegen.com.

Cautionary Statement Concerning Forward–Looking Statements

This press release contains forward–looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener. These statements are based on current expectations but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of Sweegen, Inc.

Relevant risks and uncertainties include those referenced in the historic filings of Sweegen, Inc. with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward–looking statements, and therefore should be carefully considered. Sweegen, Inc. assumes no obligation to update any forward–looking statements due to new information or future events or developments.

This press release contains forward–looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener. These statements are based on current expectations but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of Sweegen, Inc.

Relevant risks and uncertainties include those referenced in the historic filings of Sweegen, Inc. with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward–looking state.

Attachments


GLOBENEWSWIRE (Distribution ID 8327222)

New research finds USD billions to coal power projects in Africa, Asia jeopardizing energy access, climate agendas

Chinese state–owned institutions, world's largest banks continue to finance coal power in countries with greatest needs for electricity access; USD 42 billion committed to grid–connected coal power plants between 2013–2019 in 18 countries studied

VIENNA, Austria, Sept. 16, 2021 (GLOBE NEWSWIRE) — New research published today by Sustainable Energy for All (SEforALL) and Climate Policy Initiative (CPI) highlights a troubling trend in the fight against climate change and push to deliver universal electricity access: despite environmental, economic and many other challenges facing coal, pockets of funders continue to finance additional coal–fired generation capacity in South Asia and Sub–Saharan Africa.

The Coal Power Finance in High–Impact Countries knowledge brief, part of SEforALL's Energizing Finance research series, analyses 18 countries with the largest electricity access gaps (i.e. high–impact countries) to identify those receiving finance for coal–fired power, the sources of this investment, its key drivers and the risks attached.

"The idea of a coal phase–out does not hold true everywhere," said Olivia Coldrey, Head of Energy Finance and Clean Cooking at SEforALL. "We continue to see significant investment in coal–fired power generation in countries with high rates of energy poverty. These countries need affordable, reliable and clean energy to support their socio–economic development and to mitigate climate change. Financing new coal projects is inconsistent with these objectives and holds back the energy transition."

From 2013 to 2019, USD 42 billion was committed to grid–connected coal power plants in the 18 countries studied. Among them, Bangladesh, India and Pakistan received the majority of finance commitments to new coal plants, while in Africa, Madagascar, Mozambique, Malawi, Niger and Tanzania all host active coal plant development.

International finance accounted for the majority of the USD 42 billion, with Chinese financial institutions accounting for 40 percent of the total.

With South Korea and Japan recently announcing they will stop financing new coal plants overseas, China remains the last major source of international public coal finance not to have committed to ending finance for overseas coal plants. This stands in contrast with China's domestic energy policy, which is prioritizing a transition to renewable energy, peak emissions before 2030 and a net–zero economy by 2060.

Of course, China is not the only culprit. Commercial financial institutions worldwide continue to support coal power plant development indirectly, despite having implemented policies to exclude direct financing of new coal–fired generation assets. From 2016 to 2020, the 38 banks that exclude direct finance for coal–fired power plants have nonetheless provided over USD 52 billion in finance to companies engaged in coal projects (Rainforest Action Network 2021).

In addition to hampering global efforts to curb carbon emissions and achieve net–zero by 2050, coal power finance carries substantial socio–economic risks for the countries that host projects, leading increasingly to stranded assets. The brief demonstrates how infrastructure constraints and lower than expected demand in Bangladesh and Pakistan have resulted in underutilization and, in some cases, switching off of newly commissioned coal–fired power plants.

The world's 20 least–electrified countries by percentage of population without electricity are all in Sub–Saharan Africa. Should Sub–Saharan African nations continue to develop new coal–fired power generation capacity, they are likely to face similar challenges and costs to those seen in Bangladesh and Pakistan. The long development timelines associated with coal plants and their supporting infrastructure will further slow the closing of electricity access gaps.

The brief makes the case that distributed renewable energy generation provides the fastest and most efficient path to increased electricity access in the near–term. It recommends a paradigm shift from centralized coal to distributed renewable energy generation to rapidly expand electricity access in high–impact countries, not only for residential household use, but at access tiers that support economic growth.

Ahead of this year's UN High–level Dialogue on Energy and COP26, the brief recommends a reevaluation of the current geography–based carbon accounting system, which allocates emissions to countries based on their physical origin. Instead, implementing a finance–based carbon accounting regime would force policymakers to consider the impact of domestic capital on cross–border emissions and push private investors to align their portfolios with the net–zero ambitions they support.

The full knowledge brief is available here.

Contact:

For further details on the reports or any interview requests, please contact: Sherry Kennedy, Sustainable Energy for All: Sherry.Kennedy@SEforALL.org / Media@SEforALL.org | +43 676 846 727 237

About Sustainable Energy for All

Sustainable Energy for All (SEforALL) is an international organization that works in partnership with the United Nations and leaders in government, the private sector, financial institutions, civil society and philanthropies to drive faster action towards the achievement of Sustainable Development Goal 7 (SDG7) "" access to affordable, reliable, sustainable and modern energy for all by 2030 "" in line with the Paris Agreement on climate. SEforALL works to ensure a clean energy transition that leaves no one behind and brings new opportunities for everyone to fulfill their potential.

SEforALL is led by Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary–General for Sustainable Energy for All and Co–Chair of UN–Energy. Follow her on Twitter @DamilolaSDG7. For more information, follow @SEforALLorg.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cf6d4908–27d4–4196–8798–32f3be6c2481


GLOBENEWSWIRE (Distribution ID 1000547355)

ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages Concho Resources Inc. Investors with Losses Over $100K to Secure Counsel Before Important September 28 Deadline in Securities Class Action – CXO

NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Concho Resources Inc. (NYSE: CXO) between February 21, 2018 and July 31, 2019, inclusive (the "Class Period") of the important September 28, 2021 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the Concho class action, go to http://www.rosenlegal.com/cases–register–2133.html or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 28, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the well spacing at the Dominator Project, consisting of 23 wells in the Delaware Basin, part of the larger Permian Basin, was aggressive and highly risky, and premised on no reasonable basis to believe it would work as intended; (2) Concho's practice of implementing tighter well spacing was not relegated to a handful of "tests" and therefore more widespread than the market was led to believe; (3) it was known or recklessly disregarded that any measures to mitigate well spacing risks were non–existent and/or impossible; (4) these risks had manifested during the Class Period, causing underground well interference and permanently decreasing production, forcing Concho to scale back production targets and adopt more conservative spacing measures in its other projects; (5) it would take multiple quarters to unwind the impacts of the widespread well spacing failure; and (6) as a result of the foregoing, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Concho class action, go to http://www.rosenlegal.com/cases–register–2133.html or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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

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

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

Contact Information:

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


GLOBENEWSWIRE (Distribution ID 8326919)

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Generac Holdings Inc. Investors with Losses Exceeding $100K to Secure Counsel Before Important October 19 Deadline in First Filed Securities Class Action Commenced by the Firm – GNRC

NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Generac Holdings Inc. (NYSE: GNRC) between February 23, 2021 and July 29, 2021, inclusive (the "Class Period"), of the important October 19, 2021 lead plaintiff deadline in the securities class action first filed by the firm.

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

WHAT TO DO NEXT: To join the Generac class action, go to http://www.rosenlegal.com/cases–register–2139.html or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 19, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Generac's portable generators posed an unreasonable risk of injury to users and the public; (2) as a result, at least seven finger amputations and one crushed finger had been reported to the Company; (3) as a result, Generac would face increased regulatory scrutiny; (4) the Company would end sales in its Generac and DR 6500 Watt and 8000 Watt portable generators in the United States and Canada in June 2021; (5) the Company would recall its Generac and DR 6500 Watt and 8000 Watt portable generators in the United States and Canada; (6) the end of sales and the recall would occur before the hurricane and wildfire seasons and following the Texas outage""periods the Company has touted for sales; and (7) as a result, defendants' public statements and statements to journalists were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Generac class action, go to http://www.rosenlegal.com/cases–register–2139.html or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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

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

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

Contact Information:

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


GLOBENEWSWIRE (Distribution ID 8326880)

ROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages Yalla Group Limited Investors to Secure Counsel Before Important October 12 Deadline in Securities Class Action – YALA

NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yalla Group Limited (NYSE: YALA) between September 30, 2020 and August 9, 2021, inclusive (the "Class Period"), of the important October 12, 2021 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the Yalla class action, go to http://www.rosenlegal.com/cases–register–1987.html or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 12, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and misleading statements regarding the Company's business and financial metrics. Specifically, Defendants made false and/or misleading statements regarding, and/or failed to disclose that the Company overstated its user metrics and revenue and, as a result, the Company's public statements were materially false and misleading at all relevant times.

On May 19, 2021, Swan Street Research published a report (the “Swan Street Report”) addressing Yalla, entitled “Is Yalla Group a Multi $B Fraud? The "Clubhouse of the Middle East' UAE Tech Unicorn that Never Was.” The Swan Street Report alleged, among other things, that the Company has been inflating its financial metrics, including its user data and its revenue, and characterized Yalla's financial statements as “not credible.” On this news, the price of Yalla shares fell $1.31 per share, or 7.15%, to close at $17.01 per share on May 19, 2021.

The next day, May 20, 2021, analyst The Bear Cave issued a report entitled, “Problems at Yalla Group[.]" On this news, the price of Yalla shares fell an additional 6% on May 20 to close at $15.96.

Then, on August 9, 2021, after the markets closed, Yalla issued a press release entitled, “Yalla Group Limited Announces Unaudited Second Quarter 2021 Financial Results,” announcing its financial results for the second quarter of 2021 (“2Q21 Results”). The 2Q21 Results disclosed that Yalla had quarterly revenue of $66.62 million, which did not meet analysts' expectations. On this news, the price of Yalla shares fell 18% on August 10, 2021, closing at $10.99, down from its previous close price of $13.55.

To join the Yalla class action, go to http://www.rosenlegal.com/cases–register–1987.html or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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

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

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

Contact Information:

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


GLOBENEWSWIRE (Distribution ID 8326853)

ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages PayPal Holdings, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action – PYPL

NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of PayPal Holdings, Inc. (NASDAQ: PYPL) between February 9, 2017 and July 28, 2021, inclusive (the "Class Period"), of the important October 19, 2021 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the PayPal class action, go to http://www.rosenlegal.com/cases–register–2138.html or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 19, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) PayPal had deficient disclosure controls and procedures; (2) as a result, PayPal's business practices with respect to PayPal Credit remained non–compliant with applicable laws and/or regulations; (3) PayPal's practices regarding payment of interchange rates related to its debit cards were likewise non–compliant with applicable laws and/or regulations; (4) accordingly, PayPal's revenues derived from its PayPal Credit and debit card practices were in part the subject of improper conduct and thus unsustainable; (5) all the foregoing subjected PayPal to an increased risk of regulatory investigation and enforcement; and (6) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the PayPal class action, go to http://www.rosenlegal.com/cases–register–2138.html or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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

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

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

———————————————–

Contact Information:

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


GLOBENEWSWIRE (Distribution ID 8326837)