Biotechnology company, Zymeworks Inc. has received a licence from China’s National Medical Products Administration for its zanidatamab treatment for biliary tract cancer.
Under the terms of Zymeworks’ Asia Pacific license and collaboration agreement with BeiGene for the development and commercialisation of zanidatamab, it is now entitled to receive a $US8 million ($A12.2 million) milestone payment.
Chair and Chief Executive of Zymeworks, Kenneth Galbraith said acceptance by China marked a significant milestone in the global effort to bring effective, targeted treatment options to those affected by locally advanced or metastatic biliary tract cancer.
“We are grateful to all of the stakeholders who have worked tirelessly to help us reach this milestone, including our dedicated teams in manufacturing, quality control, regulatory affairs, and clinical research — as well as our collaboration partner in Asia Pacific, BeiGene,” Mr Galbraith (pictured) said.
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Disability housing investment opened
Mountain Assets, in partnership with Sumo Managed Funds, has launched a new investment opportunity in the Queensland city of Bundaberg focused on developing specialist disability accommodation.
This venture marks the second collaborative effort between Mountain Assets and Sumo, following their successful fundraising effort for the Cranbourne project in Victoria.
The partners aim to raise $A6.4 million for the housing project in central Bundaberg, which will be developed in two stages.
Stage one will see the construction of three houses, each with two bedrooms and one carer's overnight accommodation. The second stage involves two more houses with similar configurations.
Director and Co-Founder of Sumo Managed Funds, Simon Robinson said the development would provide high-quality, compliant accommodation designed to meet the specific needs of individuals requiring significant support, enhancing their quality of life and integration into the community.
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VCI Global plans AI data centres
VCI Global Limited has announced a strategic plan to build the first of several artificial intelligence (AI) computing data centres, designed to meet the intense computational demands of AI workloads.
The initial AI Centre will be equipped with advanced water-cooled H200 Graphic Processing Units (GPUs) to support complex computing and big data processing.
It will deliver unparalleled computing power services, including GPU rental and storage solutions, offering GPU as a service for Governments, financial institutions, and businesses.
VCI plans to have the first AI Centre in Malaysia operating by the first quarter of 2025. Building on this, it aims to have additional centres operating in Europe and the United States by the end of 2025.
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Bangladesh awarded for climate finance plan
Bangladesh has become the first Government to receive the Global Centre on Adaption’s Local Adaptation Champions Award, won in the Innovation in Devolving Finance category for a Local Government Initiative on Climate Change.
The award was made to the Ministry of Local Government, Rural Development and Cooperatives for its system for accessing and managing climate finance from various sources.
Accepting the award on behalf of the Ministry, Prime Minister, Sheikh Hasina said it underscored the nation’s commitment to sustainable development and climate resilience.
Chair of the GCA’s Board, Ban Ki-moon said Bangladesh “stood at the forefront of supporting the most climate-vulnerable populations, demonstrating leadership in channelling essential climate finance to those in dire need”.
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Infocom’s 30-year service to clients recognised
Infocom has been recognised in the Customer Service Management Planning and Practice category at the annual Asia-Pacific Stevie Awards in Manila.
Chief Operations and Sales Officer, Rommel Regino said the award reflected the company’s 30-year commitment to delivering exceptional service to telecom and banking clients.
In a statement with the award, judges said: “By employing a unique strategy combining innovation, people, and analytics, Infocom was able to drive client success. Its use of AI and analytics helped it consistently rank as a top vendor.”
The Asia-Pacific Stevie Awards are the only business awards program to recognise innovation in the workplace in all 29 markets of the Asia-Pacific region.
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Pythian appoints new Chief Executive
Canadian Data, analytics, and AI services provider, Pythian Services has appointed Brooks Borcherding as its Chief Executive and board member.
Current Chief Executive, Keith Angell will return to Mill Point Capital as an operating partner, but will remain a Pythian board member.
Mr Borcherding has previously held senior roles at companies, including Navisite, Datto, and Cloudreach, and his expertise spans cloud solutions, enterprise software, data protection, and managed services.
He has successfully navigated three transactions, including the sales of Navisite to Time Warner Cable, Datto to Vista Equity Partners, and Cloudreach to Atos.
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Valeura buys vessel for offshore field
Valeura Energy Inc. has acquired the Floating Storage and Offloading vessel Aurora, on location at its Nong Yao field, offshore in the Gulf of Thailand.
The Aurora had previously been leased from the seller, the Omni Offshore Terminals group, with Valeura exercising its option to purchase for $US19 million ($A28.8 million).
Valeura expects that owning, as opposed to leasing the Aurora, will provide operational flexibility and allow the company to optimise and reduce operating expenses.
An occasional round-up of international business stories
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