Category: 3. Business

  • Leonardo staff in Unite union vote to go on strike

    Leonardo staff in Unite union vote to go on strike

    Staff at the defence firm Leonardo who are members of the Unite union have voted “overwhelmingly” in favour of strike action across its main UK sites, in a dispute over pay.

    The Italian-owned company, which has the UK’s only helicopter factory in Yeovil, Somerset, had offered a two-year deal of 3.2%, describing it as fair with the potential through variable pay packages to increase to about 9.2%.

    But Unite says the offer is actually a real-terms pay cut in light of inflation and the on going economic crisis. The union’s regional officer, Carrie Binnie, said: “This strike is entirely the making of Leonardo. It can fix it with the stroke of a pen.”

    The BBC has approached Leonardo for a response.

    The ballot saw all sites support strike action but, in an unusual move, Unite has not immediately announced a date for a walkout but has instead asked for a return to negotiations.

    However, Unite says the walkout will happen this autumn if an improved offer is not made.

    Unite general secretary, Sharon Graham, said: “Our members are highly skilled and work on critical defence and aerospace systems yet are being short-changed by a company making billions.

    “Leonardo needs to do the right thing, return to the negotiating table and make an improved offer our members can accept.

    “Otherwise, they will see their workers on the picket line and their factories shutdown.”

    Leonardo has nine main sites across the UK in Edinburgh, Newcastle, Lincoln, Luton, London, Basildon, Southampton, Bristol and Yeovil.

    It is not the only firm in the aerospace sector to face a staff walkout.

    Last month, Airbus averted strike action by coming up with a new pay deal including enhancements to Unite members’ pensions.

    While Colins Aerospace has agreed a 10% pay increase over 28 months, again avoiding a walkout.

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  • Salesforce to spend $1 billion in Mexico over next five years to drive AI adoption

    Salesforce to spend $1 billion in Mexico over next five years to drive AI adoption

    Oct 8 (Reuters) – Salesforce (CRM.N), opens new tab said on Wednesday it would spend $1 billion in Mexico over the next five years, as the cloud software provider looks to expand its operations and drive artificial intelligence adoption.

    The company, which began operating in Mexico in 2006, said the investment will fund a new Mexico City office and a Global Delivery Center to support customers across the Americas.

    Sign up here.

    “This $1 billion investment is a commitment to Mexico as a key market for AI-powered growth,” CEO Marc Benioff said.

    Mexico is rapidly emerging as a tech services hub, drawing investments from technology companies, particularly in the AI domain due to the country’s proximity to the U.S. and growing talent base.

    Microsoft (MSFT.O), opens new tab announced last year that it will spend $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and AI.

    Salesforce said Mexico is a growth market for the company, with a customer base including organizations such as Xcaret, Grupo Bafar and FEMSA.

    “This investment will not only create jobs and build AI skills within Mexico but will also position our country as a key consultancy hub for markets across Latin America on AI agents and more,” Mexico’s Economy Minister Marcelo Ebrard said.

    Last month, Salesforce forecast third-quarter revenue below Wall Street estimates. The company had also announced a $20 billion increase to its existing share buyback program.

    Salesforce has rolled out AI across its cloud services at a rapid pace, culminating in the 2024 commercial launch of Agentforce — its AI agent platform designed to automate tasks, streamline operations and help lift margins.

    Reporting by Jaspreet Singh in Bengaluru; Editing by Alan Barona

    Our Standards: The Thomson Reuters Trust Principles., opens new tab

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  • Preparing Your Organisation for CSRD Through Strategic Scenario Planning

    Preparing Your Organisation for CSRD Through Strategic Scenario Planning

    Organisations across Europe are navigating a pivotal moment. The accelerating pace of change, driven by political shifts, economic uncertainty, social transformation, rapid technological advances, and intensifying environmental pressures (PESTLE), is demanding bold and resilient leadership. The EU’s Corporate Sustainability Reporting Directive (CSRD),1 alongside sister directives such as the EU’s Pay Transparency Directive2 and the Corporate Sustainability Due Diligence Directive (CSDDD),3 adds to this urgency by setting new benchmarks for how companies account for their social and environmental impacts.

    The CSRD calls for greater transparency around how businesses are measuring and addressing material sustainability risks and impacts, including those related to diversity, equity, inclusion (DEI), and human rights across the value chain. Complying with CSRD requires more than meeting reporting obligations; it demands a deeper understanding of how sustainability and inclusion intersect with business performance and long-term risk.4 But many organisations struggle to build this understanding and embed CSRD’s principles into strategies and practices.

    At the same time, European organisations are keeping a close eye on developments across the Atlantic, where evolving regulatory frameworks — whether directly applicable or indirectly influential — are creating ripple effects that further complicate the compliance landscape. For global organisations, this transatlantic dynamic adds another layer of complexity, reinforcing the need for strategic clarity and adaptive leadership.

    If you are a leader responsible for CSRD, this tool provides a structured way for you to bring together key stakeholders — across HR, DEI, legal, finance, and sustainability — to align priorities and co-develop strategic responses. It supports organisational efforts to address compliance requirements and go further, enabling scenario-based planning that is inclusive, forward-looking, and grounded in cross-functional collaboration.

    This tool will enable you to:

    • Navigate the “S” in ESG through structured scenario planning that aligns with CSRD requirements.
    • Identify and prioritise material social risks and opportunities across the value chain.
    • Stress-test organisational readiness through three future-facing scenarios:
      • Mandatory CSRD disclosures expose existing diversity, equity, and inclusion gaps.
      • AI bias in ESG tools skews CSRD disclosures.
      • Divergence in regulations and budgetary commitment to inclusion across markets complicates CSRD compliance.

    How to cite: Smith, E. & Penda, V. (2025). Preparing your organisation for CSRD through strategic scenario planning. Catalyst.

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  • FDA Grants Fast Track Designation to VT3989 for Unresectable Mesothelioma

    FDA Grants Fast Track Designation to VT3989 for Unresectable Mesothelioma

    The FDA has granted fast track designation to VT3989, a transcriptional enhanced associate domain (TEAD) autopalmitoylation inhibitor, for the treatment of patients with unresectable malignant nonpleural or pleural mesothelioma who have progressed on prior immune checkpoint inhibition and platinum-based chemotherapy.1

    “We are pleased to receive fast track designation from the FDA for VT3989 in this patient population, which is in desperate need of new and effective therapeutic options,” Sofie Qiao, PhD, president and chief executive officer of Vivace Therapeutics, the developer of VT3989, stated in a news release. “This designation represents another important step in our ongoing development of VT3989 and will offer key advantages as we continue on our path toward potential commercialization of this first-in-class and best-in-class therapy.”

    VT3989 Pipeline Update

    • The FDA granted fast track designation to VT3989, a transcriptional enhanced associate domain (TEAD) autopalmitoylation inhibitor, for the treatment of patients with unresectable malignant nonpleural or pleural mesothelioma who have progressed on prior immune checkpoint inhibition and platinum-based chemotherapy.
    • VT3989 is a novel, investigational small molecule designed to inhibit palmitoylation of members of the TEAD protein family, thereby targeting the Hippo pathway.
    • Preliminary efficacy findings presented from the dose-escalation portion of the ongoing phase 1/2 trial showed decreases in the sum of the target lesions from baseline among patients with both pleural and non-pleural mesothelioma, regardless of their NF2 mutation status.

    What Is the Mechanism of Action of VT3989?

    This novel, investigational small molecule therapeutic is designed to inhibit palmitoylation of members of the TEAD protein family, thus targeting the Hippo pathway. The efficacy and safety of VT3989 are under investigation in an ongoing phase 1/2 clinical trial (NCT04665206).

    What Is the Design of the Phase 1/2 Trial?

    This multicenter, open-label trial is enrolling patients with mesothelioma and/or metastatic solid tumors that are resistant to standard therapy or for which no effective standard therapy is available.2 Patients need to have an ECOG performance status of 0 or 1, as well as adequate organ function.

    This trial consists of 3 parts. The dose-escalation part investigated the safety of VT3989 in patients with mesothelioma or metastatic solid tumors. Patients received the agent in a 3+3 design until the maximum tolerated dose or recommended phase 2 schedule and dose are identified.

    The dose-expansion part assessed the safety and preliminary antitumor activity of VT3989 at the recommended phase 2 schedule and dose in up to 6 cohorts, including patients with mesothelioma of any site origin regardless of NF2 mutation status (cohorts 1 and 2), patients with non-pleural mesothelioma (cohort 3), patients with solid tumors with clearly inactivating NF2 alterations or mutations or YAP/TAZ gene rearrangements (cohort 4), and patients with pleural mesothelioma (cohort 5).

    The combination part will consist of 2 cohorts. Cohort A will enroll patients with mesothelioma who will be treated with VT3989 plus nivolumab (Opdivo) or ipilimumab (Yervoy). Cohort B will enroll patients with non–small cell lung cancer with tumors harboring EGFR exon 19 deletions or EGFR exon 21 L858R mutations who will be treated with VT3989 plus osimertinib.

    VT3989 is administered orally in 25-mg, 50-mg, 100-mg, 150-mg, or 200-mg capsules over 21- or 28-day cycles.

    The primary end point is the occurrence of dose-limiting toxicities and the occurrence of general toxicities. Secondary end points include tumor response; pharmacokinetic evaluations; overall survival in part 2 cohorts 3, 4, and 5; progression-free survival in part 2 cohorts 3, 4, and 5; and quality of life in part 2 cohorts 3, 4, and 5.

    What Is the Efficacy of VT3989 in Patients With Mesothelioma?

    Findings from the dose-escalation portion of the trial, presented at the 2023 IASLC World Conference on Lung Cancer, showed decreases in the sum of the target lesions from baseline among patients with both pleural and non-pleural mesothelioma who received the agent across dose levels and schedules.3 Responses were observed regardless of NF2 mutation status.

    What Is the Safety Profile of VT3989 in Patients With Mesothelioma?

    Among evaluable patients with mesothelioma (n = 44), the most common grade 1 to 4 treatment-related adverse effects included albuminuria (61.6%), proteinuria (59.1%), fatigue (31.8%), peripheral edema (29.5%), nausea (20.5%), increased alanine aminotransferase levels (13.6%), increased aspartate aminotransferase levels (13.6%), anemia (11.4%), and decreased appetite (11.4%).

    References

    1. Vivace Therapeutics’ VT3989 granted fast track designation by the U.S. Food and Drug Administration for the treatment of mesothelioma. News release. Vivace Therapeutics, Inc. October 8, 2025. Accessed October 8, 2025. https://www.prnewswire.com/news-releases/vivace-therapeutics-vt3989-granted-fast-track-designation-by-the-us-food-and-drug-administration-for-the-treatment-of-mesothelioma-302577269.html
    2. Study to evaluate VT3989 in patients with metastatic solid tumors.ClinicalTrials.gov. Updated August 11, 2025. Accessed October 8, 2025. https://clinicaltrials.gov/study/NCT04665206
    3. Yap T, Desai J, Dagogo-Jack I, et al. First-in-human phase 1 trial of VT3989, a first-in-class YAP/TEAD inhibitor in patients with advanced mesothelioma. Presented at: 2023 IASLC World Conference on Lung Cancer. September 9-12, 2023; Singapore.

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  • ADVISORY: Embargoed Press Call on the State of Climate Action 2025 Report

    WASHINGTON (October 8, 2025) – Join an embargoed press call to preview the State of Climate Action 2025 report on Thursday, October 16, 2025, from 9:00–10:00 a.m. ET / 3:00–4:00 p.m. CEST, hosted by Systems Change Lab partners — the Bezos Earth Fund, Climate Analytics and World Resources Institute.  

    Released in the lead-up to COP30 and ahead of the Paris Agreement’s tenth anniversary, the State of Climate Action 2025 offers the world’s most comprehensive roadmap for how every major sector must close the climate action gap and help limit warming to 1.5°C.  

    The report translates this Paris Agreement temperature goal into clear, sector-by-sector targets for 2030, 2035, and 2050 — across power, buildings, industry, transport, forests and land, and food and agriculture — and assesses whether the world is on pace to meet them. It also evaluates progress made in scaling technological carbon dioxide removal (CDR) and climate finance, both of which are essential for achieving global climate goals.  

    During the call, report authors will share key findings, sector insights and discuss the report’s relevance to global climate efforts, including updated national climate commitments (NDCs), the Global Stocktake and COP30. Following the presentations, we’ll open the floor to questions from the media. 

    REGISTER HERE  

    The findings in theState of Climate Action 2025report are strictly embargoed until Wednesday, October 22, 2025, at 00:01 ET / 06:01 CEST.Embargoed materials will be available upon request starting Monday, October 13. Please contact Darla van Hoorn at [email protected]  to request access. 
     
    WHEN  

    Thursday, October 16, 2025, from 9:00–10:00 a.m. ET / 3:00–4:00 p.m. CEST 

    WHO    
    Speakers 

    • Kelly Levin, Chief of Science, Data and Systems Change, the Bezos Earth Fund; Co-Director of Systems Change Lab
    • Clea Schumer, Research Associate, Systems Change Lab, World Resources Institute 
    • Sophie Boehm, Senior Research Associate, Systems Change Lab, World Resources Institute
    • Alison Cinnamond (moderator), Strategic Communications and Media Director, World Resources Institute 

    Expert respondents 

    • Neil Grant, Senior Climate and Energy Analyst, Climate Analytics
    • Joel Jaeger, Senior Research Associate, Systems Change Lab, World Resources Institute
    • Anderson Lee, Research Associate II, World Resources Institute  

    RSVP   
    Please RSVP at the following Zoom link. This call is open to journalists only.  
     

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  • Celebrating milestones and the future of oncology in China

    Celebrating milestones and the future of oncology in China

    China’s biopharmaceutical innovation is experiencing an unprecedented period of growth. Thanks to sustained policy support, capital investment, and expanding research capabilities, the country is rapidly increasing its reputation as a global hub of innovation. According to the WHO, in 2024 China ranked second in the world for number of registered clinical trials, and over the past decade, its new pharmaceutical and medical technology patents have nearly quadrupled.

    Against this backdrop, the 28th Annual Meeting of the Chinese Society of Clinical Oncology (CSCO) was held this month in Jinan, Shandong Province. As one of the most influential academic platforms in the field, CSCO has become a key venue for showcasing China’s oncology research to the world, and this year’s meeting shined a spotlight on the latest advances in cancer prevention, diagnosis, and treatment across both research and clinical practice.

    Partnering with leading experts in oncology, molecular pathology, and drug development, Illumina hosted a special session at the conference that facilitated in-depth exchanges on biomarker applications in solid tumors, cancer drug innovation, and precision medicine in the Guangdong–Hong Kong–Macao Greater Bay Area.

    Advances in next-generation sequencing and multiomics

    Cancer therapy is undergoing a profound transformation, as subtypes are increasingly defined on a molecular basis rather than on organs or histology. With advances in next-generation sequencing (NGS), researchers can now integrate genomic, transcriptomic, proteomic, and other layers of biological information to achieve a comprehensive view of tumors. Large-scale genomics and multiomics projects are also enriching our understanding of cancer initiation and progression, opening new possibilities for precise tumor classification and translational research.

    Professor Zhang Xuchao of Guangdong Provincial People’s Hospital noted that “NGS and multiomics, as core tools in the life sciences, are enabling us to more precisely identify disease drivers and transition from single-target to multi-biomarker-driven approaches. By analyzing diseases at the molecular level, we can trace their evolutionary pathways, identify potential therapeutic targets, and accelerate the translation of scientific discoveries into clinical applications.”

    From the frontiers of research to clinical practice

    As clinical practice increasingly adopts NGS, improving the accessibility and efficiency of precision oncology remains a top priority for clinicians. Comprehensive genomic profiling (CGP) is a core tool for detecting cancer biomarkers and enabling a thorough analysis of genomic alterations in tumors. It helps identify variants linked to disease progression and drug sensitivity, significantly improving the accuracy of targeted therapy matching.

    “China urgently needs breast cancer clinical research that is more tailored to local populations,” said Professor Cao Wenming of Zhejiang Cancer Hospital. “Systematic and highly sensitive genomics testing can guide clinical practice, significantly improve patient outcomes, and open up new therapeutic pathways.”

    Professor Song Wei, director of Clinical Genomics and Molecular Pathology at UC San Diego Health, shared, “I’m deeply focused on advancing in-house genomics testing to help pathologists in classifying tumors more rapidly. CGP assays provide streamlined end-to-end workflow and integrated analytics, delivering rapid, high-quality results that meet the dual demands of speed and accuracy for in-house testing. By building local projects and databases, we are also advancing real-world research, using data to enhance both accessibility and clinical value of precision medicine.”

    As NGS and multiomics technologies generate large-scale datasets, Illumina is empowering deeper analyses through bioinformatics software and AI. Recently, the UK Biobank identified 1.5 billion variants from nearly 500,000 whole genomes with Illumina software. The dataset was published in Nature and is now openly accessible to pharmaceutical partners worldwide.

    Synergy between research and medicine

    In China, multiomics, AI, and other advanced tools are increasingly embedded across the cancer care continuum. During a live discussion at the CSCO meeting, Professor Gao Chenyan, leading scientist at Changping Laboratory, emphasized that clinical research is a key driver of innovative drug development and the optimization of treatment pathways. Professor Ma Jun, director of the Harbin Institute of Hematology and Oncology (HIHO), elaborated: “Hematologic tumors are highly heterogeneous. Cutting-edge technologies such as NGS have greatly enhanced our ability to monitor tumor heterogeneity. NGS-based ctDNA assays offer high specificity and sensitivity, making them reliable tools for detecting minimal residual disease in B-cell lymphoma and for assessing treatment response. Driving innovation in cancer diagnosis and treatment requires close collaboration across research, clinical practice, and industry—all for the benefit of patients.”

    A “pilot-first” model for innovation

    The Guangdong–Hong Kong–Macao Greater Bay Area (GBA) has become an important bridge for introducing innovative diagnostic and therapeutic solutions into mainland China, thanks to a Hong Kong Department of Health measure announced in November 2020. By June 2025, the measure had covered 45 designated hospitals, introduced 51 drugs and 63 devices, and benefited tens of thousands of patients in the GBA.

    Kang Wei, former managing director of the R&D-Based Pharmaceutical Association Committee, noted that “China has become an important source of drug innovation, with growing impact in international clinical trials. GBA’s biopharmaceutical industry is uniquely positioned to leverage the measure, offering an open window for applying innovative medical resources. This has attracted leading global partners to explore practical solutions and accelerate the translation of new drugs and devices from bench to bedside.”

    Illumina continues to invest in research and clinical solutions to expand advanced tumor profiling and meet diverse biomarker testing needs. In August 2024, the FDA approved TruSight Oncology Comprehensive, the first United States FDA–approved distributable comprehensive genomic profiling in vitro diagnostic with pan-cancer companion diagnostic claims.

    Au Siu Kie, a professor at the Hong Kong Integrated Oncology Centre and coauthor of the JCO Precision Oncology paper “Consensus Statements on Precision Oncology in the China Greater Bay Area,” also spoke about how the measure, and expert consensus, are transforming cancer care: “This year, FDA-approved products such as TSO Comprehensive are expected to become available in Hong Kong, expanding access to advanced CGP options for patients.” He added that this broadens the reach of precision medicine and helps improve the affordability of internationally approved therapies under local reimbursement systems, “which ultimately benefits more patients.”

    Deepening local innovation

    Illumina continues to expand local investment and strengthen customer service and support in China. As of this June, the registration of certain Illumina products by its commercial partner Berry Genomics enabled high-throughput clinical sequencing for applications in genetic disease, reproductive health, and oncology. This year, Illumina also launched its Beijing Customer Engagement Center and its official e-commerce platform on WeChat, creating a full-channel service ecosystem.

    Jenny Zheng, global senior vice president and the company’s general manager of Greater China, said: “We will work hand in hand with experts at home and abroad to accelerate translation of scientific discoveries, ensuring that cutting-edge technologies truly benefit patients. As oncology research in China continues to deepen and innovative technologies gain wider adoption, the synergistic development of NGS and multiomics, combined with our localization strategy, will contribute China’s wisdom and solutions to global cancer prevention and treatment.”

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  • Riyadh Air Announces Inaugural London Flights & Groundbreaking Sfeer Loyalty Program

    Riyadh Air Announces Inaugural London Flights & Groundbreaking Sfeer Loyalty Program

    • Riyadh Air fulfills 2025 commitment with launch flights to London; Dubai to be added later.
    • Daily passenger launch flights to London Heathrow on October 26th mark critical ‘Pathway to Perfect’ go-to-market plan.
    • Sfeer launches as Riyadh Air’s community-driven loyalty program, uniquely allowing shareability of membership benefits including Level Points to help friends and family reach higher status and unlock greater rewards.
    • Early Sfeer members gain priority access to ticket sales on Riyadh Air’s future flights as well as exclusive experiences.

    RIYADH, Saudi Arabia, Oct. 8, 2025 /PRNewswire/ — Riyadh Air, Saudi Arabia’s new national carrier, today reveals two significant milestones as it announces a landmark on its journey towards its 2025 debut: the commencement of its first daily flights to London Heathrow Airport (LHR) on October 26th. Riyadh Air is also proud to unveil Sfeer, its groundbreaking loyalty offering, which will provide exclusive benefits to its early Founding Members through “The Founders”.

    Operational Excellence: Paving the Way for a World-Class Airline 

    Beginning October 26th, Riyadh Air will commence daily launch flights from Riyadh to London Heathrow Airport (LHR) aboard its designated aircraft, “Jamila”. These carefully sequenced flights, initially on sale to select groups and Riyadh Air employees, are a critical phase in ensuring unparalleled operational readiness while utilizing Riyadh Air’s recently awarded slot at London Heathrow (LHR). Through assessing these initial Jamila flights, the airline builds operational strength for a smooth, reliable, world-class travel experience.

    This isn’t just a launch; it’s a tangible realization of a vision to connect Saudi Arabia to the world, a core pillar of Saudi Vision 2030,” stated Tony Douglas, CEO of Riyadh Air. “Our commitment to begin operations in 2025 is being fulfilled. This rigorous flight program on Jamila allows us to fine-tune every detail, ensuring a seamless, reliable, and world-class experience. This carefully sequenced approach is our pathway to perfect, and we are now incredibly close to full operations as our new aircraft are delivered.”

    Sfeer: The Future of Loyalty, Designed for a Generation in Motion 

    Sfeer, meaning “Ambassador” in Arabic and blended with the English word “sphere”, embodies the vibrant, generous spirit of Saudi Arabia. As it rolls out, Sfeer is set to become one of the world’s most unique and exciting loyalty programs, seamlessly combining community engagement with gamified experiences, all while unlocking the very best of Saudi.

    Uniquely, Sfeer members will be able to share level points within their community. Sfeer membership is now open via www.riyadhair.com, and early joiners will be recognized as ‘The Founders’, who will receive priority access to bookings on future flights.

    A cornerstone of Sfeer’s innovation is its community-centric design, allowing members to share points, benefits, and Level Points with friends and family, fostering collective reward. Furthermore, Sfeer proudly offers a “no points expiry” policy, ensuring every point and benefit is enjoyed, not wasted.

    “With Sfeer, we’re creating much more than just a loyalty program; we’re building a dynamic, digitally immersive lifestyle ecosystem,” added Douglas. “Our vision is to truly change the game, offering unparalleled benefits and fostering a unique sense of community among our members.”

    As ‘The Founders’, early joiners receive priority access to bookings on future flights. All Sfeer members can look forward to complimentary onboard Wi-Fi. Joining Sfeer now allows members to start collecting points and gain exclusive early access to routes and priority booking.

    Don’t just travel; be a pioneer. This is an invitation to unlock the best of Saudi Arabia.

    Photo – https://mma.prnewswire.com/media/2791645/Riyadh_Air_1.jpg
    Photo – https://mma.prnewswire.com/media/2791646/Riyadh_Air_2.jpg

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  • Kirkland Represents CF PharmTech on its Hong Kong Listing | News

    Kirkland & Ellis advised CF PharmTech, Inc. (CF PharmTech, HKEx: 2652) on its global offering and listing on the Main Board of the Hong Kong Stock Exchange. The joint sponsors for the listing were CITIC Securities (Hong Kong) Limited and CMB International Capital Limited.

    CF PharmTech raised approximately HK$607.7 million from its global offering, which has attracted strong interest and overwhelming demand from the capital markets. The Hong Kong public offering tranche was oversubscribed by approximately 6,700 times, ranking among the top three most oversubscribed IPOs on the HKEx in 2025. The international offering tranche was also oversubscribed by approximately 12.74 times, drawing participation from numerous well-known institutional investors and high-quality long-term capital. The enthusiastic response reflects strong market confidence in CF PharmTech’s growth potential and business prospects.

    CF PharmTech primarily focuses on the R&D, manufacturing and commercialization of inhalation technologies and inhalation drugs, with a focus on treating respiratory diseases. It has developed a product portfolio with a broad coverage of patients, medical specialties and therapeutic areas. CF PharmTech intends to apply the proceeds to fund the ongoing R&D and clinical development of its established inhalation formulation product candidates, both domestically and internationally, its pre-clinical R&D across multiple other pipeline programs and technologies, expansion and upgrade of its manufacturing facilities, equipment procurement, and production management systems and working capital and other general corporate purposes.

    Kirkland & Ellis’s Asia capital markets team continues to deepen its focus on the life sciences sector, and the CF PharmTech’s IPO represents another milestone transaction in this space.

    The Kirkland team included capital markets lawyers Mengyu Lu, Samantha Peng, George Zheng, and Yuchen Han; registered foreign lawyers Bill Feng, Jiawei Zhao, Ashley Sun and Qianqian Yu.

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  • Oil prices edge up on worries about Russian output and limited OPEC+ production increase – Reuters

    1. Oil prices edge up on worries about Russian output and limited OPEC+ production increase  Reuters
    2. Oil rises as oversupply fear eases after OPEC+ restrains output increase  Reuters
    3. OPEC Nears Its Limit, Leaving Prices One Crisis Away from a Spike  Crude Oil Prices Today | OilPrice.com
    4. Crude Prices Slip on Dollar Strength and Energy Demand Concerns  TradingView
    5. OPEC+ lifts production, petrol price likely to go down  MobilityEnergy.com

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