COVID-19: CAE announces measures to protect its financial position and mitigate the impact on its employees
Common share dividend and share repurchases suspended
Temporary layoffs (furloughs) and work-week reductions
To help save lives, CAE is developing an easy-to-manufacture ventilator
MONTREAL, April 6, 2020 /CNW Telbec/ - (NYSE: CAE) (TSX: CAE) – CAE announced today that it has taken a series of flexible measures to protect its financial position in response to the COVID-19 crisis and mitigate the impact on its employees. The measures include temporarily suspending its common share dividend and share repurchase plan, as well temporarily laying off 2,600 of its 10,500 employees and placing another 900 employees on a reduced work week. CAE also announced that, in an effort to help save lives, it is developing an easy-to-manufacture ventilator which will provide life support to patients in intensive care.
"CAE continues to support its customers as the training services we provide are considered essential around the world. Our Civil Aviation operations are most affected by the unprecedented disruption of the global air transportation system. At the same time, our Defence & Security operations are less impacted because CAE provides mission critical services worldwide," said Marc Parent, CAE's President and CEO. "We entered this crisis from a position of strength with a leading market position, a balanced business with recurring revenue streams, and a solid financial position. Taking decisive yet flexible action will help to protect our people and operations over the short-term and gives us the necessary agility to resume long-term growth when global air travel returns. Our employees have always been at the core of CAE's success, we regret the hardship these temporary measures will cause those affected, especially during these difficult times, and we are grateful to all our employees for their contribution and dedication."
To mitigate the number of temporary layoffs, CAE significantly reduced capital expenditures and R&D investments. The company also announced cost-containment measures, including salary freezes and salary reductions for staff not affected by reduced work weeks (50% for the CEO and executive team, 30% for vice presidents, 20% for directors and managers, and 10% for group leaders and employees).
CAE is working to access government emergency relief measures and wage subsidy programs in its main operating jurisdictions and will assess their impact on its mitigation plans. As details of government assistance programs around the world are finalized, CAE will do everything it can to recall as many employees as possible.
Dividend and share repurchase plan (NCIB) suspended
CAE's Board of Directors has approved the suspension of dividend payments to common shareholders until further notice and will review this position on a quarterly basis. Core to its capital allocation priorities, CAE remains committed to paying dividends over the long-term that are commensurate with the long-term growth of its business and will seek to resume dividend payments as soon as it is appropriate.
CAE's Board of Directors has also approved the temporary suspension of all share repurchases under its normal course issuer bid program.
CAE provides essential services critical to maintaining customers' operations
In Civil aviation, training is highly regulated, and for pilots to remain active and to continue to hold their certifications, they must train regularly - usually every 6 to 9 months. While training activities related to new pilot training have decreased substantially, many airlines and business jet operators have continued to conduct recurrent training to maintain the certification of their existing pilots. Two-thirds of CAE's more than 50 civil training centres worldwide continue to be operational, however training utilization is lower than usual as a result of restrictions from border closures and lockdowns that have forced temporary closures and disruptions to operations.
In Defence & Security, as underscored by governments worldwide, CAE's work is considered essential, and its employees are deployed worldwide to actively support training and readiness requirements. Over 90% of CAE's operational sites are still delivering services to support defence forces who must always be prepared and ready in the interest of national security.
Playing a role in saving lives in the fight against COVID-19
To help in the fight against COVID-19, our CAE Healthcare engineers and scientists have designed in 11 days a simple, maintainable, easy-to-manufacture ventilator prototype to provide life support to patients in intensive care. CAE is currently sourcing components in order to begin production of this ventilator as soon as it is approved by Health Canada. (A video is accessible via this link, and photos are available at www.cae.com/multimedia-centre/photos/).
"CAE has employees around the world, and we are all proud of the impact we can have by putting our expertise to work to create a ventilator that can help save lives in the fight against COVID-19," said Marc Parent. "Once this prototype is approved by public health authorities, we are looking at manufacturing thousands of units in our Montreal plant and in other sites over the next few months."
CAE is also providing complimentary training seminars on how to prepare healthcare workers in the fight against COVID-19. The CAE team is launching simulation-based training solutions, both web and hardware based, to train personnel in the safe practice of ventilation and intubation, which is key to saving lives. This is even more critical right now when ventilation and intubation is being done by healthcare professionals who are not trained for these complex procedures.
About CAE
CAE is a global leader in training for the civil aviation, defence and security, and healthcare markets. Backed by a record of more than 70 years of industry firsts, we continue to help define global training standards with our innovative virtual-to-live training solutions to make flying safer, maintain defense force readiness and enhance patient safety. We have the broadest global presence in the industry, with over 10,500 employees, 160 sites and training locations in over 35 countries. Each year, we train more than 220,000 civil and defence crewmembers, including more than 135,000 pilots, and thousands of healthcare professionals worldwide. www.cae.com
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Caution concerning forward-looking statements
Certain statements made in this press release are forward-looking statements. Forward-looking statements describe future expectations, plans, results or strategies and normally contain words like "believe", "expect", "anticipate", "plan", "intend", "continue", "estimate", "may", "will", "should", "strategy", "future" and similar expressions. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws and of the United States Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties associated with our business which may cause actual results in future periods to differ materially from results indicated in forward-looking statements. While these statements are based on management's expectations and assumptions regarding historical trends, current conditions and expected future developments, as well as other factors that we believe are reasonable and appropriate in the circumstances, readers are cautioned not to place undue reliance on these forward-looking statements as there is a risk that they may not be accurate. The forward-looking statements contained in this press release describe our expectations as of April 6, 2020 and, accordingly, are subject to change after such date. Except as required by law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. The forward-looking information and statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE CAE INC.
Opinion: Exercise can be good for you and your country especially during a crisis like COVID-19
By Patricia Scotland, Commonwealth Secretary-GeneralPublic parks have been gated shut, beaches emptied and stadia deserted, as an unprecedented 2.5 billion people across the world are told to sit at home. Times are tough. The Coronavirus is real and as it spreads its tentacles across the globe it is taking its toll on the lives and livelihoods of people everywhere. Measures such as closing gyms, shutting sports facilities and staying at home put a limit on a person’s mobility and exercise. Necessary, but painful, as enforced inactivity can contribute to periods of intense stress and can lead to long-term negative health impacts. Commonwealth athletes, ranging from Cameroon’s Samuel Eto’o and West Indies’ Brian Lara to Ghana's Olympian Akwasi Frimpong, Kenya’s Eluid Kipchoge and Hellen Obiri and the United Kingdom’s Tom Daley, are sharing important information on reducing the spread of coronavirus or staying active at home. There are several online series, virtual classes and resources, including Jamaica Moves, to help people stay active, improve mental health and reduce the risks of developing non-infectious diseases. Building on this energy, we will soon launch the Commonwealth Moves campaign to encourage more people from the 54 member countries to stay active and exercise as we stare down this disruptive pandemic. So even when competitions are postponed and venues closed, sport and physical activity can be a powerful influence for good in these troubling times. It is a common denominator and a universal language, one that can unite people from different backgrounds, empower communities and contribute to rebuilding nations. The shared love of cricket has played a role in connecting Singhalese and Tamil people in Sri Lanka. It was cricket that connected islands of the Caribbean creating one of the most powerful symbols of West Indian unity to delight the world. The Commonwealth Games, a cultural feast of sporting excellence, shines as a beacon of inclusion and diversity. Recognising this beneficial potential, the UN six years ago declared 6 April as the International Day of Sport for Development and Peace. The international community identified sport as an important enabler of the 2030 Agenda for sustainable development and highlighted its impact on health, education, social inclusion, women’s empowerment and youth development. Many governments and organisations are using sport as a vehicle to deliver tangible projects at the grassroots level. The ‘Just Play’ initiative in the Pacific uses football games to teach children about healthy living, while Singapore’s ‘Sport Cares’ project uses sport to defy stereotypes associated with persons with disabilities. The Commonwealth Secretariat’s ‘Peace at the Crease’ initiative which has brought people of different faiths and those of none to play and learn together in peace has already started to make its mark. Such initiatives improve people’s health, teach important skills and values, and if done well, can help unite communities. But the reach of sport goes far beyond these local interventions. It can and should be rooted in national policy and planning so that sport and physical activity can truly reach everyone, including the poor, marginalised, refugees and victims of natural disasters and violence. But how? We have worked with Mauritius to develop and implement a new policy which considers the impact of sport on the UN sustainable development goals (SDGs) and injects it into the national vision 2018-2028. The policy is designed to make people fitter and healthier to reduce the risks of non-infectious diseases and lessen the burden on hospitals. This holistic approach is crucial because about four in five adolescents do not get enough physical activity - and around a quarter of adults - due to infrastructural, economic and cultural obstacles. This leaves them unable to reap the potential economic, social and health benefits that can come from sport and being physically active. We are urging all governments to invest more to address this gap. It is not only the right thing to do but is good value for money. Typically, less than 1% of the national budget is allocated to sport but its contribution to GDP is in multiples of that. In 2016, Fiji spent about 0.5% of its annual budget on sport but in return, revenues from sport contributed 1.7% to GDP - more than the country’s mining, quarrying and forestry sectors. In the same year, the size of Canada’s sport economy grew by 3.2% while jobs creation in the sector rose by 4.9%. This potential to create jobs will be even more important as we move to recover from the current health crisis and to rebuild shattered income streams. The benefits are not just economic. In 2016, research found that every £1 England spent on sport generated £1.91 in social returns through contributions to a reduced risk of disease, improved wellbeing, low crime and improved educational performance. While the gains are clear, expertise and capacity to robustly measure the impact of sport on the development targets pledged in the SDGs remain limited. This is where the Commonwealth has a game plan. In order to assess the value of public investments in the sector and enhance evidence-based policymaking, we are creating the world’s first common measurement approach working in partnership with UN agencies. This initiative will help countries and international bodies count and assess the contribution sport, exercise and physical education makes to the specific SDGs identified in the Kazan Action Plan. So how does it work? For instance, we can urge countries to build more playing fields and develop plans to inspire people to take up sport if we can better measure how this contributes to achieving the SDG target 3.4, on reducing deaths from non-infectious diseases like diabetes and cancer. Seven countries, including Japan, are currently piloting this approach. We hope Commonwealth leaders will endorse this approach at their next biennial meeting. At a time when climate change and numerous health crises affect people’s ongoing struggle to overcome entrenched problems, we can collectively push the progress on delivering sport for all and achieving healthy, educated, employed and inclusive societies. The world is now in a period of a pandemic, what is important is that we all work together as one team on a united front against a common opponent.
National Research Study by Egale Canada and INNOVATIVE Research Group finds LGBTQI2S people in Canada are Disproportionately Impacted during COVID-19 Health Crisis
TORONTO, April 6, 2020 /CNW/ -Egale Canada has partnered with Innovative Research Group (INNOVATIVE)to include LGBTQI2S communities in a national research study on the impacts of COVID-19 and the needs of Canadians during this health crisis. The newly released report, Impacts of COVID-19: Canada's LGBTQI2S Community in Focus, uncovers alarmingly disproportionate impacts of COVID-19 on vulnerable LGBTQI2S communities across several priority areas including household finances, job loss, mental and physical health, overall quality of life, and more.
"This research is the first of its kind in Canada and has given us a glimpse at the unique vulnerabilities and challenges that our LGBTQI2S people face in this crisis – This is only a starting point," said Helen Kennedy,Executive Director at Egale Canada. "The government needs to apply this timely research to decision making frameworks and policies that assist vulnerable LGBTQI2S communities across Canada."
The survey results show a telling contrast between Canada's LGBTQI2S community and the broader Canadian population. Although astonishing, the results are not unexpected. Below are some of the key findings;
More than half (52%) of Canada's LGBTQI2S households have faced lay-offs or reduced employment as a result of the COVID-19 pandemic, compared to 39% of overall Canadian households.
The perceived negative impacts on mental health over time increase exponentially for LGBTQI2S people with nearly 60% of LGBTQI2S respondents reporting that they expect their mental health to be negatively impacted in the next 2 months compared to only 42% of the general public
Additionally, LGBTQI2S people are significantly more likely to have a chronic illness or physical disability, both of which come with many barriers and risks during a time of crisis. The report also shows that over time, the perceived or expected impacts on LGBTQI2S people rises at an exponentially higher rate than the average Canadian – in some areas there is nearly a 25%increase in perceived or expected negative impacts for particularly vulnerable LGBTQI2S people.
"Everyone has been impacted by the COVID-19 crisis, the disproportionate numbers we see between the LGBTQI2S community and the general population is really quite astonishing." said Jason Lockhart, Vice President of INNOVATIVE. "We have only scratched the surface, but it is enough to signal that more research is needed with vulnerable communities to ensure that all Canadians are receiving the support they need during this difficult time."
"Every inch closer that we come to closing the data gap, is one step forward towards a more inclusive Canada,'' said Kennedy. "Our LGBTQI2S community is facing critical needs that show the potential to worsen over time – now is the time to be looking at the problems that are on the horizon, not just for LGBTQI2S people, but for everyone."
The survey was conducted online among a representative sample of 2,610 adult Canadians from March 24-29, 2020. The sample has been weighted by age, gender, region and sexual orientation to reflect the actual demographic composition of the Canadian and LGBTQI2S populations, resulting in an overall representative national sample size of 2,000 Canadians and representative national LGBTQI2S sample size of 300.
About Egale Canada Egale is Canada's only national organization working to advance LGBTQI2S human rights. Egale works to improve the lives of LGBTQI2S people in Canada and to enhance the global response to LGBTQI2S issues. Egale's vision is a Canada, and ultimately a world, without homophobia, biphobia, transphobia and all other forms of oppression so that every person can achieve their full potential, free from hatred and bias.
About INNOVATIVE Research Group INNOVATIVE is a full-service market research firm with offices in Vancouver and Toronto. www.InnovativeResearch.ca
SOURCE Egale Canada
Ontario’s Russell Alexander Law Firm Gives Back to First Responders, Restaurant Employees With New Food Initiative Divorce firm helps workers on the front line of the pandemic through its ‘Save a Slice’ effort
LINDSAY, ONTARIO—Russell Alexander Collaborative Family Lawyers has started a new weekly program to help two groups struggling during the coronavirus pandemic: first responders and restaurant workers. With its “Save a Slice” initiative, an effort to provide food for first responders, the Ontario family law firm is buying pizza from local eateries and sending it to health care professionals on the front lines of the response.
“We wanted to find some way to recognize the incredible work being done by our first responders,” said Alexander. “What better way to do that than by supporting a local restaurant?”
For its inaugural event today, April 4, the firm ordered 50 pizzas from Lindsay, Ontario Italian restaurant Pane Vino to be delivered to the emergency room of Ross Memorial, a local hospital, to feed doctors, nurses and support staff.
The firm, which helps families going through divorce with a collaborative approach, has also created a new Covid-19 and Divorce Information Centre to provide answers to common questions during the pandemic. On the website, Ontario residents can get answers to questions about how to work remotely with their attorneys, how the pandemic may affect court dates and even how to avoid sparking a divorce during the stress of quarantine.
With attorneys deemed an essential service, the Russell Alexander Collaborative Family Lawyers remains open, although staffers are working remotely for their safety and the safety of their clients.
Russell Alexander Collaborative Family Lawyers is committed to practicing exclusively in the area of family law in Ontario dealing with all aspects, including separation and divorce, child custody and access, spousal support, child support, and division of family property. A team of lawyers provide guidance from start to finish, helping clients identify and understand the legal issues as well as the options and opportunities available through the transition. The firm has offices in Lindsay, Whitby, Oshawa, Markham, Peterborough and Toronto, Ontario.
Historical evidence for bitcoin performing like digital gold
In the first days after the outbreak of the coronavirus crises in the West, crypto plunged like traditional asset classes. Bitcoin was pronounced dead. A historical analysis by SEBA Research of several assets indicates that except for this event, crypto does not correlate with stock markets.
In spite of BTC price drop, the underlying blockchain technology has operated well. Furthermore, the demand for stable coins is on the rise. Both observations indicate that crypto is supported by a robust technology and is here to stay.
Looking at the blockchain network fundamentals, significant drop in difficulty as it was the case last week, has historically been a reliable indicator for price bottom formation.
Zug, 3 April 2020 – In the recent crash, the independence of bitcoin relative to other assets has been challenged as it dropped by more than the S&P500 index. Many are tempted to conclude by saying the diversification argument does not hold anymore. The Research Department of SEBA Bank has a different opinion, based on an analysis of three examples of financial stress with a focus on gold. This precious metal is an asset revered as a classic diversifier and, like bitcoin, does not belong to the official monetary system.
BTC comparable to gold on the long run
During the financial crisis 2008, gold crashed 30%, in parallel with equities. But after three months, the correlation disappeared and gold served as a diversifier again. During the Black Monday crisis in 1987, the gold price went up in the beginning and then declined over several years while the opposite happened at the stock markets. An analysis of the dot-com bubble shows a high correlation during two to three months before gold and shares performed completely different for years. Being a classical diversifier on the long run does not necessarily mean anti-correlation during the first days of a crisis.
Bitcoin is now experiencing its first global crisis. During the general run on liquidity, bitcoin fell more than other markets which were supported by governments and central banks. After the sell-off, the correlation has declined. This behaviour is similar to what we have observed with gold and S&P 500 during the dot-com bubble burst.
“Does this mean that we know for certain that bitcoin is going to bounce regardless of what happens to other asset classes? Absolutely not. Only it is premature to conclude that diversification does not work. Bitcoin had been pronounced dead 380 times before the recent crash by prominent personalities. This will be bitcoin’s 381st death, and it will be resurrected for the 381st time”, says Yves Longchamp, Head Research of SEBA Bank.
High demand in stablecoins
Besides historical analysis of financial markets, cryptocurrencies are resisting the crisis. In 2020, stablecoins saw a steady rise of 20%, and during the recent sell-off, the demand for stablecoins has increased. Stablecoins are built on top of existing blockchains. The growing demand for stablecoins gives us confidence that space is, in fact, thriving.
Founded in April 2018 and headquartered in Zug, SEBA is a pioneer in the financial industry, building a progressive technological bridge between the digital and traditional asset worlds. In August 2019, SEBA received a Swiss banking and securities dealer licence – the first time a reputed, regulatory authority such as FINMA has granted a licence to a financial services provider with a main focus on digital assets and crypto. The wide and vertically integrated spectrum of services, as well as the high security standards make SEBA’s business approach unique. SEBA enables clients to invest, safely keep, trade and borrow against traditional and digital assets, as well as issue tokens, in one place.
Expansion of Covid-19 testing further complements exemplary reaction by India, says GlobalData
India’s agility so far in handling the coronavirus (Covid-19) situation is an exemplar, given its large population and the public healthcare challenges. As the country gears up to involve private partners for both testing and treatment of Covid-19, it is likely to aid further in containing the epidemic in the country, says GlobalData, a leading data and analytics company. India imposed a lockdown of 21 days while the Covid-19 infection was still at local transmission stage to avoid reaching the community transmission stage. According to GlobalData Covid-19 dashboard, as of 02 April 2020, although India has 2,032 confirmed Covid-19 cases, incidence rate in India was 1.50 versus 120.4 worldwide and 59.16 in China. As of 02 April 2020, GlobalData forecasts 407,825 confirmed Covid-19 cases in India in a high transmission risk scenario versus 5,305 in a low transmission risk scenario by the end of lockdown on 14 April 2020. As part of the Fast Track Covid-19 Response Program, India has proposed Covid-19 Emergency Response and Health Systems Preparedness Project to respond to and mitigate the Covid-19 threat and strengthen national systems for public health preparedness in India and initiated sentinel surveillance to detect community transmission of Covid-19. Sasmitha Sahu, Pharma Analyst at GlobalData, comments: “While the lockdown cannot eliminate the threat itself, it will be helpful in ‘breaking the chain of infection’ and containing further rampant spread of the virus. Although the new case count has been increasing, there has been certainly a delay in the onset of community transmission.” Recently, the government announced the expansion of testing facilities to private diagnostic laboratories as well as directed private healthcare facilities to initiate treatment of Covid-19 cases. Moreover, India has approved three polymerase chain reaction (PCR) based kits and one antibody detection kit while also allowing any FDA approved diagnostic kit to be used by private testing labs. Ms. Sahu adds: “India isolated the virus within a few weeks of its first Covid-19 case, which is pivotal to initiate research on diagnostic kits, vaccines and drugs. The expansion of testing will lead to quicker identification, enhanced surveillance and disease management which are further likely to prevent community transmission.” Furthermore, the government is extending support to expedite the production of low-cost diagnostic kits and ventilators as well as established Covid-19 Research Consortium to facilitate the development of vaccines and therapies. It has notified a Rapid Response Regulatory Framework to provide expedited regulatory approvals. The government has decided to cover Covid-19 related expenses under the national health insurance scheme for the deprived and also launched an insurance scheme for health workers fighting Covid-19 frontline. India is likely to participate in WHO’s multi-national SOLIDARITY trial to evaluate treatments for Covid-19. Ms. Sahu concludes: “These supportive measures by the government will likely ensure the accessibility of testing to the larger masses and prove crucial in combating the epidemic as well as facilitating the development of novel therapies and vaccines.” ENDSFor more informationTo gain access to our latest press releases: GlobalData Media CentreAnalysts available for comment. Please contact the GlobalData Press Office:EMEA & Americas: +44 (0)207 832 4399 Asia-Pacific: +91 40 6616 6809Email:pr@globaldata.comTo gain access to our latest press releases and expert analysis on developments in your industry, please connect with us on:GlobalData | LinkedIn | TwitterNotes to EditorsComments provided by Sasmitha Sahu, Pharma Analyst at GlobalDataThis press release is written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry expertsAbout GlobalData4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.
Storz & Bickel's Volcano Medic 2 Receives Medical Use Approval from Health Canada
SMITHS FALLS, ON and TUTTLINGEN, Germany, April 3, 2020 /CNW/ - Storz & Bickel is pleased to announce that Health Canada has issued a Medical Device Licence for the new Volcano Medic 2 (License No.: 103842), an advanced cannabis vapourizer device for medical use. This licence permits distribution to medical institutions, clinics, and patients in Canada – including distribution through Spectrum Therapeutics, the medical cannabis division of Canopy Growth Corporation (TSX: WEED) (NYSE: CGC). The device is currently available for purchase on Spectrum Therapeutics, Storz & Bickel's online shop, and various medical cannabis clinics across Canada.
Storz & Bickel is known for their long history of high quality vapourizer manufacturing and they were the first company to manufacture medically-certified cannabis vapourizers, including the iconic original Volcano Medic.
The Volcano Medic 2, which has been approved for medical use in Europe, Australia, and now Canada, includes improved features for patients such as tenfold faster heat up times, an alternative tubular (direct-to-mouth) inhalation method in addition to the standard Valve Balloon, and an intuitive touch display that allows patients to set their desired temperature directly on the device. Patients can expect the same high-quality materials, impeccable craftsmanship, and unparalleled safe and combustion-free vaporization experience they've become accustomed to with all Storz & Bickel devices with the new reinvented Volcano Medic 2. Alongside their medically approved cannabis vapourizers, Storz & Bickel is known for manufacturing non-medical vapourizers in accordance with international technical safety standards, ensuring premium quality for each component part.
Due to its classification as a licensed medical device, the Volcano Medic 2 is eligible for tax deduction benefits in Canada or cost reimbursements by health insurance companies in Germany, similar to its predecessor and the Mighty Medic.
"Storz and Bickel is internationally-known for its best-in-class device design and manufacturing," said Dr. Mark Ware, Chief Medical Officer, Canopy Growth. "This license will allow us to offer even more options for patients who may be interested in vapourizing whole-flower dried cannabis as an alternative method of medicating."
In the past 12 months, Storz & Bickel updated several products in their existing portfolio, adding new features, improvements, and adjustments designed to increase user and patient experience, including the new Volcano Hybrid that was released in June and the Crafty+ that launched in November.
About Canopy Growth Corporation Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth's subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.
Canopy Growth's medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.
Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.
From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 7.5 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com
About Spectrum Therapeutics Spectrum Therapeutics, the medical division of Canopy Growth Corporation (TSX: WEED, NYSE: CGC), is dedicated to educating healthcare practitioners, furthering the public's understanding of medical cannabis and its various applications, and cutting edge, commercializable research and IP development. Founded in Canada, Spectrum Therapeutics operates in Australia, South America, Africa and across Europe. Its products are available in a wide range of potencies and formats designed to simplify the dialogue around strength and dosage by applying a colour-coded spectrum to categorize medical cannabis according to THC and CBD levels.
Spectrum Therapeutics' offerings include whole flower cannabis, oils and new innovations such as Softgels in addition to single cannabinoid medicine Dronabinol under the brand Bionorica Ethics. Through product simplification, robust clinical research and ongoing education of healthcare professionals, Spectrum Therapeutics is committed to addressing the unmet medical needs of patients around the globe.
Notice Regarding Forward Looking Statements This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include "an unparalleled vaporization experience".. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including product availability and such risks contained in the Company's annual information form dated June 24, 2019 and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
SOURCE Spectrum Therapeutics
$4 M for MUHC Foundation COVID-19 Emergency Fund - Prominent Montreal families come together to fight the pandemic
MONTREAL, April 3, 2020 /CNW Telbec/ - As cases of COVID-19 climb steeply and Quebec society grounds to a near halt, with all but essential services closed for weeks, the need to find treatments and ultimately a cure for the novel coronavirus is growing increasingly urgent.
"The COVID-19 Emergency Fund will allow our hospital and Research Institute to launch new research efforts and match institutional grants for greater impact," says Dr. Pierre Gfeller, President and Executive Director of the MUHC. "These last few weeks, we have been inspired by the mobilization of the global scientific community. Today, we are inspired by the generosity of our own community. Together, we will win this battle against COVID-19."
The gifts from The Hewitt Foundation, the late Elspeth McConnell, and the Trottier Family Foundation will allow the MUHC to rapidly launch critical research projects to end this virus, provide essential resources to isolated patients and support the tireless efforts of its hospital staff.
"Our MUHC teams are the hospital heroes on the front lines of the COVID-19 pandemic. They're caring for patients, leading numerous clinical trials to prevent and cure the virus, and working tirelessly to develop a vaccine," says Julie Quenneville, MUHC Foundation President. "With these significant contributions to the COVID-19 Emergency Fund, we are getting closer to stopping the pandemic."
The MUHC, together in partnership with McGill University, has been at the forefront of the fight against infectious diseases for years. In 2017, the McGill Interdisciplinary Initiative in Infection and Immunity (MI4) brought together over 250 researchers and 5,000 staff to address the threat of infection, and the next global pandemic.
"With the generosity and commitment of our community, our Foundation has been powering the researchers behind MI4 as they work to solve humanity's greatest health challenges," says Norman Steinberg, Chairman of the Board of the MUHC Foundation. "Now more than ever before, we need their leadership."
MI4 is currently working to tackle the current global health challenge and improve our preparedness for future pandemics.
"Thanks to the generosity of these leading health care philanthropists, the COVID-19 Emergency Fund will support the priorities identified by the hospital, ensure resources are available to society's most vulnerable, provide seed funding for new solutions and match funds for government grants," says Dr. Bruce Mazer, Executive Director (interim) at the Research Institute of the MUHC (RI-MUHC). "With this $4 million contribution to the COVID-19 Emergency Fund, we can take immediate action and focus on rapidly detecting, preventing and curing this disease."
SOURCE McGill University Health Centre Foundation
Fitbod Reports Bodyweight-Only Home Workouts Ramping up Quickly, Especially Among Millennials
SAN FRANCISCO (April 2, 2020) – Fitbod (https://fitbod.me), the popular iOS app that uses advanced data analytics to generate personalized workouts, has analyzed its workout trends. The company reports that since the COVID-19 outbreak, Fitbod’s bodyweight-only workouts routines, designed for working out at home, have become increasingly popular. Since March 1 more than 73% of new Fitbod users are setting up bodyweight-only profiles. Bodyweight-only workouts can be very effective and use only the user’s body weight for resistance, and no special equipment is needed. Fitbod observed that during the past two months, an increasing number of users are choosing Fitbod’s bodyweight-only feature to continue working out at home. To assist people in staying fit during this period, Fitbod is offering free bodyweight-only workouts through April. After downloading the app from the Apple Store, or at https://fitbod.me/coronavirus, they can choose “bodyweight-only” when configuring their user profile, and there will be no charge for using the app. “Two key takeaways from our data are first, that bodyweight-only routines and use of small equipment are growing in popularity, especially among intermediate and advanced level users—in other words, those who are most likely to want to keep in shape during this shelter-in-place period,” said Allen Chen, Fitbod CEO. “Secondly, the age group that has increased its use of our bodyweight-only feature the most is the 25 to 34-year old group, followed by the 18 to 24-year old group. We need to encourage folks over the age of 34 to pay more attention to their fitness, and these bodyweight-only exercises can be very helpful. During this COVID-19 pandemic—and afterward, of course—keeping one’s strength up is important to overall health.” In the two-month period from January 19 to March 19, the percent of all Fitbod users choosing bodyweight-only workouts rose from 18% to 61%, more than a three-fold increase. Much of the increase has taken place in March, when concern about the coronavirus has substantially risen. As of March 19, more than 35,000 users have set up their profiles to request bodyweight-only workouts, compared to approximately 7,000 users on March 2. What types of fitness goals do bodyweight-only workouts appear to support? While bodyweight-only can be effective for anyone, the highest interest is among users who have muscle tone increase or bodybuilding as their primary fitness goals, rather than people doing powerlifting or Olympic Weightlifting. “This makes sense, since users who are powerlifting or training at the Olympic level typically have well-equipped home gyms and don’t have to change their routines,” said Chen. Overall, users who consider themselves at the advanced fitness level are increasing their use of bodyweight-only workouts more than are beginners, although younger beginners (up to age 24) seem to take to bodyweight-only training, also. Fitbod is offering free bodyweight-only workouts through April.The Fitbod team believes it’s important for everyone to stay motivated to work out, even if they can’t go to the gym. Chen explains, “Fitbod’s bodyweight-only routines are very effective, so we hope more and more people will do them on a regular basis. Based on fitness science, these workouts are challenging yet appropriate to each user’s fitness level.” Use of small workout equipment has increased, too. Fitbod also tracked the number of Fitbod users who are taking advantage of workout routines that incorporate the kinds of small gym equipment that is easy to use at home, such as pullup bars, handle bands, foam rollers and mini loop bands. The percentage of people using these types of equipment has increased by more than 75% since March 8, with mini loop bands showing the biggest increase. Subscriptions for full use of the app, using gym equipment, are priced at $9.99 per month or $59.99 for an annual subscription ($6/mo.). Fitbod is an Apple Store Editors’ Pick for best fitness app and can be downloaded for iPhone or iPad at the Apple Store. An Android version is now in beta testing. Fitbod integrates with other fitness apps including Apple Health, Activity, Fitbit and Strava. About FitbodFitbod, Inc. is the developer of the Fitbod app, a technology platform that designs deeply personalized workout plans, allowing users to get maximum benefit from their fitness program. Using machine learning, data analytics, user data and exercise science best practices, the app creates optimized and personalized workout routines. In short, Fitbod helps users reach fitness goals efficiently and safely. Headquartered in San Francisco, Fitbod, Inc. is co-founded by Jesse Venticinque and Allen Chen. For more information about Fitbod, please visit the website at https://fitbod.me. Follow Fitbod:On Facebook at https://facebook.com/fitbodappOn Twitter at https://twitter.com/fitbodappOn Instagram at https://instagram.com/fitbodapp # # # Editor’s note: graphs and charts of Fitbod’s user trend data are available upon request. Press here for a downloadable Word version of this release. Press here for high-resolution screen shots.
Bodyweight-only workoutsWhen the user's profile is set to "bodyweight only," Fitbod will generate a customized bodyweight-only workout routine that takes in account the user's age, fitness level and fitness goals.
Fitbod data also shows increase in workouts using small gym equipment since the COVID-19 outbreak Popular gear includes pullup bars, handle bands, foam rollers and mini loop bands. The percentage of people using these types of equipment has increased by more than 75% since March 8, with mini loop bands showing the biggest increase.
Evotec Expands its iPSC-Based Cell Therapy Platform EVOcells Through Licensing Agreement with panCELLa
EVOTEC LICENSES PANCELLA'S STATE-OF-THE-ART IPSC TECHNOLOGIES IACT STEALTH CELL™ AND FAILSAFE™ FOR USE IN CELL THERAPY
ACCESS TO PANCELLA'S TECHNOLOGY HAS THE POTENTIAL TO ENABLE SAFE AND OFF-THE-SHELF CELL THERAPY PRODUCTS AND LIFTS EVOTEC'S IPSC-BASED CELL THERAPY PLATFORM ("EVOCELLS") TO THE NEXT LEVEL
EVOTEC TAKES MINORITY SHAREHOLDING IN PANCELLA
HAMBURG, Germany and TORONTO, April 2, 2020 /CNW/ - Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) and the innovative biotechnology company panCELLa Inc. announced today that the companies have entered into a licensing and investment agreement.
Under the terms of the agreement, Evotec will receive a non-exclusive licence to access panCELLa's proprietary iPS cell lines "iACT Stealth Cells™", which are genetically modified to prevent immune rejection of derived cell therapy products ("cloaking"). Furthermore, Evotec will also have access to a new-generation cloaking technology known as hypoimmunogenic cells. In addition, the "FailSafe™" mechanism effectively addresses a key challenge in iPSC-based cell therapy, potential tumour formation by residual undifferentiated cells.
Using the cell lines, Evotec will be able to develop iPSC-based, off-the-shelf cell therapies with long-lasting efficacy that can be safely administered to a broad population of patients without the use of medication to supress the patients' immune system. With a growing portfolio of iPSC-based cell therapy projects at Evotec, access to research as well as GMP-grade iPSC lines modified with one or both of the panCELLa technologies significantly accelerates Evotec's cell therapy discovery and development efforts. Modified iPSC lines will be available for the development of cell therapy approaches across a broad range of indications by Evotec and potential partners. Furthermore, Evotec has made an investment to take a minority stake in panCELLa and has nominated Dr Andreas Scheel to join panCELLa's supervisory board.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "Cell therapies hold enormous potential as truly regenerative or curative approaches for a broad range of different diseases with significant medical need. Integrating panCELLa's technology and cell lines into our ongoing proprietary research and development efforts strengthens Evotec's position in cell therapy. It is our goal to provide safe highly-effective cell therapy products to as many patients as possible. In addition to small molecules and biologics, cell therapy will become yet another major pillar of Evotec's multimodality discovery and development platform."
Mahendra Rao, MD, PhD, CEO at panCELLa, added: "We welcome the partnership with Evotec. Evotec's widely recognised expertise and existing portfolio of iPSC-related technology platforms will allow panCELLa to rapidly advance its own therapeutic interests in NK cell therapy, pancreatic islet production and iPSC-derived MSC platform, in addition to enabling panCELLa to make its platform technologies widely available. I believe that the investment by Evotec in our company is a strong validation of the leading role of panCELLa in the field of regenerative medicine and in the utility of its platform technologies. We welcome Dr Andreas Scheel to our Board."
No financial details of the agreement were disclosed.
About Evotec and iPSC Induced pluripotent stem cells (also known as iPS cells or iPSCs) are a type of pluripotent stem cell that can be generated directly from adult cells. The iPSC technology was pioneered by Shinya Yamanaka's lab in Kyoto, Japan, who showed in 2006 that the introduction of four specific genes encoding transcription factors could convert adult cells into pluripotent stem cells. He was awarded the 2012 Nobel Prize along with Sir John Gurdon "for the discovery that mature cells can be reprogrammed to become pluripotent". Pluripotent stem cells hold great promise in the field of regenerative medicine. Because they can propagate indefinitely, as well as give rise to every other cell type in the body (such as neurons, heart, pancreatic and liver cells), they represent a single source of cells that could be used to replace those lost to damage or disease.
Evotec has built an industrialised iPSC infrastructure that represents one of the largest and most sophisticated iPSC platforms in the industry. Evotec's iPSC platform has been developed over the last years with the goal to industrialise iPSC-based drug screening in terms of throughput, reproducibility and robustness to reach the highest industrial standards, and to use iPSC-based cells in cell therapy approaches via the Company's proprietary EVOcells platform.
About cell therapy and panCELLa's FailSafe™ iPSC technology Cell therapy, one of the most promising regenerative medicine approaches, replaces a patient's missing or broken cells with functioning cells from a range of different sources, either from a donor, from the patient's own material, or from stem cells. The advent of induced pluripotent stem cells ("iPSC") has opened up stem cells as an almost unlimited source of consistent-quality material for such cell therapies. At the same time, differentiating cell therapies from a single validated source circumvents critical risks of contamination associated with administering both donor and patient cell material.
However, the patient's immune system will treat such iPSC-based transplant as "foreign" and use the body's immune system to counteract the therapy, thus undermining its long-term efficacy. While organ transplants require an often lifelong regimen of immunosuppressants, iPSC-derived cells used for cell therapies can be cloaked to make them undetectable by the patient's immune system, thus avoiding rejection and enabling effective long-term relief of the patient's symptoms.
To increase the safety of such iPSC-derived cell products, panCELLa's proprietary FailSafe™ technology is able to inactivate any iPSC-derived proliferating cell before and after transplantation through the use of a readily available anti-infective medication. FailSafe™ is the only quantifiable "safety switch" on the market which is expected to be critical for regulators, clinicians and patients to make informed decisions when evaluating treatment options.
About panCELLa Inc. Incorporated in August 2015, panCELLa (www.pancella.com) was founded by Dr Andras Nagy and Dr Armand Keating based on Dr Nagy's ground-breaking work in the area of stem cell research. Through panCELLa, Drs Keating and Nagy are seeking to create an effective cell therapy derived from stem cells, which are modified to provide a sufficient and very high level of safety before and after the cells are introduced to the patient. panCELLa serves those companies developing products from stem cells. panCELLa seeks to create universal "off the shelf" FailSafe™ Cells and to assist pharmaceutical and biotechnology sectors to achieve such with their own cell lines. Targeted medical applications include deadly, debilitating, or aggressive diseases requiring immediate treatment where there is no time to cultivate a customized stem cell treatment from the patient (i.e. cancer, cardiac infarct, diabetes, stroke and spinal cord injury).
About Evotec SE Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide and our more than 3,000 employees provide the highest quality stand-alone and integrated drug discovery and development solutions. We cover all activities from target-to-clinic to meet the industry's need for innovation and efficiency in drug discovery and development (EVT Execute). The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuronal diseases, diabetes and complications of diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases, fibrosis, rare diseases and women's health. On this basis, Evotec has built a broad and deep pipeline of approx. 100 co-owned product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term alliances with partners including Bayer, Boehringer Ingelheim, Bristol-Myers Squibb, CHDI, Novartis, Novo Nordisk, Pfizer, Sanofi, Takeda, UCB and others. For additional information please go to www.evotec.comand follow us on Twitter@Evotec.
FORWARD LOOKING STATEMENTS Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.
SOURCE panCELLa Inc.
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