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YolTech Therapeutics to Initiate a Clinical Trial for YOLT-204, a First-in-Class Bone Marrow-Targeted In Vivo Gene Editing Therapy for β-Thalassemia

SHANGHAI, Jan. 21, 2025 /PRNewswire/ — YolTech Therapeutics, a clinical-stage gene editing company dedicated to delivering lifelong cures, announced the initiation of a clinical trial for YOLT-204, an investigational therapy for the treatment of transfusion-dependent beta-thalassemia (TDT). TDT is a severe genetic blood disorder where mutations in the beta-globin gene leads to reduced or absence of hemoglobin, a condition where regular blood transfusion is required to manage anemia and prevent other complications.

YOLT-204 is a first-in-class in vivo gene editing therapy leveraging YolTech’s proprietary lipid nanoparticles (LNP). The therapy edits the regulatory region of hemoglobin to induce expression of fetal hemoglobin, potentially alleviating the imbalance of hemoglobin production and normalizing the number of red blood cells in TDT patients. In pre-clinical models, YOLT-204 showed effective and sustained induction of fetal hemoglobin, suggesting therapeutic potential for TDT. YOLT-204 may also be an effective treatment for patients with sickle cell disease (SCD), as increased expression of fetal hemoglobin in these patients has been associated with less polymerization of sickle hemoglobin as well as reduced complications and mortality.

The clinical trial for YOLT-204 is a dose-escalation study to preliminarily examine the safety and efficacy of a single-dose regimen with YOLT-204 in TDT. If successful, YOLT-204 may eventually provide an off-the-shelf curative treatment for TDT patients without conditioning chemotherapy and HSCT (Hematopoietic Stem Cell Transplantation).

“The initiation of clinical trial for YOLT-204 represents a significant milestone of gene editing therapy development for TDT and SCD,” said Dr. Yuxuan Wu, founder and Chief Executive Officer of YolTech Therapeutics. “We are excited to collaborate with our clinical investigators to bring this innovative therapy to patients.”

For further details about the trial or YolTech’s ongoing programs, please visit [www.yoltx.com] or contact [info@yoltx.com].

About YOLT-204
YOLT-204 is an off-the-shelf in vivo gene editing therapy developed for TDT without conditioning chemotherapy and HSCT. YOLT-204 delivers a gene editor to hematopoietic stem cells through YolTech’s proprietary lipid nanoparticles. The editor together with a guide RNA targets the hemoglobin regulatory region to induce expression of fetal hemoglobin. The expression of fetal hemoglobin has the potential to normalize hemoglobin composition and the red blood cell counts in patients with transfusion-dependent beta-thalassemia, eventually making them transfusion independent.

About YolTech
YolTech Therapeutics is a clinical-stage in vivo gene editing company committed to pioneering the next generation of precision genetic medicines. Our approach combines innovative gene editing technologies with an advanced lipid nanoparticle (LNP) delivery system, creating a versatile platform designed to address a wide range of serious diseases. Central to our mission is the development of internal capabilities, including end-to-end manufacturing, to ensure the highest standards of quality and scalability. Our lead candidate, targeting ATTR, marks a significant milestone as China’s first LNP-mediated in vivo gene editing therapy to enter clinical development. With promising early clinical outcomes, YolTech is also advancing therapies for familial hypercholesterolemia (FH) and primary hyperoxaluria type 1 (PH1). As a company dedicated to transforming the treatment landscape, YolTech continues to push the boundaries of what is possible in gene editing.

For more information, please visit: www.yoltx.com

AXA and Prosper Health introduce pioneering dedicated cancer case management service in Greater Bay Area[1]

Partners with Prosper Health
introducing “Greater Bay Area Cancer Medical Concierge Service Network”

HONG KONG, Jan. 21, 2025 /PRNewswire/ — AXA Hong Kong and Macau (“AXA”) announces a partnership with Prosper Health, a member-centric health insurance service provider under New Frontier Group – one of China’s leading integrated private healthcare service institutions, to launch premium cross-border medical support services for eligible AXA customers, to further strengthen the medical service network in the Greater Bay Area (GBA).

The frequency of travel between mainland China and Hong Kong is increasing. As of 2023, approximately 500,000[2] Hong Kong residents regularly stay in Guangdong Province, according to the Census and Statistics Department, leading to a significant rise in the demand for cross-border medical services. Among various health risks, cancer remains the top health threat in Hong Kong, with 35,373 new cases[3] reported in 2022, of which lung cancer and breast cancer rank as the top and second most common types[4], respectively. These factors are making the demand for cross-border cancer medical service increasingly urgent.

AXA remains dedicated to offering customers optimal and convenient health support while continuously strengthening the GBA healthcare ecosystem. Addressing the growing demand for cross-border cancer management, AXA partners with Prosper Health and United Family Hospitals in Shenzhen and Guangzhou (also under New Frontier Group) in the first phase, where eligible AXA customers can access a one-stop “Greater Bay Area Cancer Medical Concierge Service Network” for lung and breast cancer treatment, including cashless arrangement for cross-border cancer treatment and support services by dedicated case managers.

United Family Hospitals in Shenzhen and Guangzhou are designated comprehensive hospitals operating in the GBA and officially included in the Measure of using Hong Kong registered drugs and medical devices used in Hong Kong public hospitals in Guangdong-Hong Kong-Macau Greater Bay Area (the Measure). The hospitals strictly follow policy requirements, respond to patient needs and introduce drugs and medical equipment registered in Hong Kong and Macau, to provide more comprehensive and effective innovative medical services. Additionally, United Family Hospitals have comprehensive integrated medical capabilities and state-of-the-art equipment. Their medical teams have consistently achieved high scores in JCI certification[5], reflecting their excellence in medical quality, management, and service delivery.

Janet Lee, Chief Life and Health Insurance Officer, AXA Hong Kong and Macau, said, “Building on our initial collaboration with Prosper Health last year to enhance the ‘Healthcare and Wellness Ecosystem’ in both mainland China and Hong Kong, we are delighted to partner with Prosper Health to further expand the servicing of our individual medical plans within the Greater Bay Area. Through the launch of the market-leading ‘Greater Bay Area Cancer Medical Concierge Service ‘, we aim to combine the strengths of mainland China’s and Hong Kong’s medical services to provide customers with professional, high-quality, one-stop cancer treatment services in the GBA, ensuring that they receive comprehensive support throughout the entire treatment and recovery process.”

Kevin Zhou, Co-founder and CEO of Prosper Health, said, “Last year, both parties formally launched comprehensive cooperation focusing on expanding the ‘Healthcare and Wellness Ecosystem’ between mainland China and Hong Kong. This ‘Greater Bay Area Cancer Medical Concierge Service Network’ further deepens our previous cooperation. In the trend of ‘northbound and southbound’ bidirectional movement and accelerated integration in the GBA, we are committed to integrating GBA medical resources and empowering cross-border medical journeys for customers from both regions. Meanwhile, we are expanding the boundaries of premium medical services, from professional medical support to personalised service support, providing more comprehensive assistance to customers with specific medical service needs.”

Brian Siu, Executive Director, Chief Operation Officers of New Frontier GBA, said, “The establishment of Shenzhen New Frontier United Family Hospital in the Greater Bay Area is based on a comprehensive and specialist-integrated approach to protect people’s health throughout their entire lives. The hospital’s renowned doctors and foreign experts work together with internal specialists to provide multidisciplinary diagnosis and treatment. The hospital also offers cross-border consultation and surgery by Hong Kong specialists. Through collaboration with AXA, the hospital will leverage its professional strengths to build a one-stop high-quality cancer treatment experience for cross-border patients and promote medical service in the region.”

Kelly Xia, General Manager of Guangzhou United Family Hospital, said, “Over its 16 years since establishment, Guangzhou United Family Hospital has built its reputation through refined management, sophisticated technology, caring service, and comfortable environment. By introducing relevant advanced medical technologies and equipment and gathering top domestic and international medical expert teams, we are committed to providing patients with safe, effective, and convenient comprehensive healthcare services throughout their lifecycle. We are gradually developing into a premium healthcare leader in South China and the GBA.”

AXA’s Greater Bay Area Cancer Medical Concierge Service Network offers customers a dedicated case manager through Prosper Health for each customer. The teams of case managers is formed by seasoned healthcare professionals with extensive medical insurance expertise. By leveraging the specialised knowledge of medical teams and oncologists from both Hong Kong and mainland China, the dedicated case manager delivers tailored one-on-one services. These include the collection of medical records, assistance in obtaining second medical opinion, scheduling consultations and treatment appointments in mainland China, explanation of treatment plans, and facilitation of insurance pre-approval applications. The comprehensive approach ensures each customer receives the tailored support they require throughout their treatment journey.

In addition, customers can enjoy convenient point-to-point transportation services, including round-trip business vehicles from Hong Kong, Macau, and selected cities in the Greater Bay Area, to designated hospitals in mainland China. This alleviates travel burdens. If necessary, customers can stay at the treatment hospital before and after treatment and receive professional nursing care to ensure adequate rest during treatment period. A dedicated case manager will accompany the customer throughout the treatment process and provide necessary support and companionship.

AXA understands that it would be complex when navigating suitable healthcare. Therefore, AXA developed a trusted AXA Signature Network and cooperated with Prosper Health in last year, to improve cross-border medical service packages for AXA employee benefits insurance customers[6], further expanding medical services to mainland hospital networks to 296 cities, including Beijing, Shanghai, and 9 GBA cities, such as Guangzhou, Shenzhen, and Foshan. This cooperation further demonstrates AXA’s continuous efforts to enhance customer health protection. Looking ahead, we will continue to closely monitor market conditions and progressively expand and strengthen the GBA medical network, aiming to provide eligible customers with more dedicated medical services ranging from cancer screening to post-treatment care within the year.

For further details about AXA’s Greater Bay Area Cancer Medical Concierge Service Network, please visit:
www.axa.com.hk/en/greater-bay-area-cancer-medical-concierge-service-network

[1] ‘Pioneering’ (Market-first) refers to same type of cross-border medical services provided by Hong Kong insurance companies (According to AXA internal market research conducted as of 17 January 2025)

[2] Hong Kong Census and Statistics Department:  Statistics on Hong Kong residents usually staying in Guangdong Province

[3] Hong Kong Cancer Registry

[4] Top 10 Cancers in Hong Kong: Breast Cancer Surpassed Colorectal Cancer to Become the Second Most Common Cancer; Lung Cancer Remains the Most Common Diagnosed Cancer

[5] JCI certification terminated its certification business in China in 2023.

[6]  Eligible customers refer to insured members of AXA employee benefits insurance with hospitalization coverage.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 51 markets and serving 94 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers in Hong Kong, we offer integrated solutions across Life, Health and General Insurance. We are the largest General Insurance provider and a major Health and Employee Benefits provider. Our aim is to not only be the insurer to provide comprehensive protection to our customers, but also a holistic partner to the individuals, businesses and community we serve. At the core of our service commitment is continuous product & service innovation and customer experience enrichment, which is achieved through actively listening to our customers’ needs and leveraging and investing in technology and digital transformation.

We embrace our responsibility to be a driving force against climate change and a force for good to create shared value for our community. We are proud to be the first to address the importance of mental health through different products and services and thought leading iconic research. Our overall Sustainability Strategy, with emphasis on climate strategy and biodiversity commitment, is developed based on TCFD recommendations. We are committed to integrating environmental, social and governance factors across our business and strive to contribute to a sustainable future through 3 distinct roles – as an investor, insurer and an exemplary company.

About New Frontier Group

New Frontier Group was founded in 2016 by Mr. Antony Leung, former Financial Secretary of Hong Kong, and Mr. Carl Wu, former Managing Director at Blackstone, with the goal of addressing some of the most pressing healthcare needs today. In the short time since its founding, New Frontier Group has become one of the leading private healthcare service providers in Greater China, offering a comprehensive range of services that span across the entire healthcare continuum.

This includes general and specialty healthcare, rehabilitation care, home care, health insurance services, health technology, and more. Currently, the group operates 32 hospitals with over 9,000 beds, serving 77 cities. It is supported by a dedicated workforce of approximately 12,000 full-time staff, including over 3,000 doctors and more than 2,000 nursing staff. This year, the group expects to exceed 12 million patient visits, with in-patient days totaling 1.9 million. Please visit https://www.new-frontier.com/en/ for more information.

About Prosper Health

Prosper is a member-centric health insurance service provider. Collaborating with leading insurance companies and local medical service providers in China, we offer personalized health management services and insurance solutions to both corporate and individual clients.

We integrate medical care into the entire process of health insurance services. Through our dedicated Personal Care Managers, we understand our clients’ unique needs and establish a highly engaging, trustworthy, and long-term personalized service model, from prevention, treatment to rehabilitation; Our medical network spans globally, encompassing both public and private healthcare facilities; Digital tools enhance customers experience and create a first-class health insurance service platform.

About Shenzhen New Frontier United Family Hospital

Shenzhen New Frontier United Family Hospital, situated in Futian District, Shenzhen, is a comprehensive hospital with a construction area of approximately 73,000 square meters. It is only a 10-minute drive from Futian Port (Lok Ma Chau Station in Hong Kong). The hospital  adhering to rigorous evidence-based medical practices. It focuses on general practice while integrating high-quality specialty services. The hospital employs doctors and nurses from Hong Kong, renowned physicians from across China, and excellent expatriate doctors to deliver comprehensive care, aiming to provide international medical services to residents of the Greater Bay Area.

The hospital offers 26 departments and specialty services, including general practice, health management, dentistry, internal medicine, and surgery. It is equipped with advanced medical technology, such as Siemens 3.0T MRI and dual-source spiral CT scanners. Regarding medications, thanks to the national drug procurement system, patients can access Hong Kong-equivalent medications at competitive prices under a doctor’s evaluation.

Shenzhen New Frontier United Family Hospital prioritizes the patient experience. For Hong Kong clients, the hospital provides bilingual reports (Chinese and English), a 24-hour Hong Kong hotline, and dedicated Cantonese-speaking staff to facilitate appointment bookings and medical consultations.

About Guangzhou United Family Hospital

Guangzhou United Family Hospital is a comprehensive hospital under United Family Healthcare. Located in the core of the Pazhou CBD in Guangzhou, it offers excellent and high – quality medical and health services to patients, thanks to its advantageous geographical location, a top – notch medical team composed of internationally experienced doctors and domestic experts, as well as advanced medical equipment.

Guangzhou United Family Hospital has a total construction area of over 60,000 square meters and more than 100 beds. It offers multidisciplinary professional services in over 60 specialties and sub-specialties, including general practice, internal medicine, surgery, gynecology and obstetrics, pediatrics, oncology, and more. Additionally, it provides special services such as general family medicine, family-integrated delivery rooms, and others. The hospital hopes to enhance specialty exchanges in the cross-border medical field between the Chinese mainland and Hong Kong, and promote the development of medical services and research projects.

THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE: AXA.COM.HK 

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA’s actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 – “Risk factors and risk management” of AXA’s Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA’s business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations.

INCUBASE Arena Launches New Locations in Hong Kong and Malaysia to Foster Anime Culture

HONG KONG, Jan. 21, 2025 /PRNewswire/ — INCUBASE Arena, the anime cultural experience hub established by INCUBASE Studio, reopened at its new location in Mong Kok’s Chong Hing Square on January 17. At the same time, its first international branch opened earlier this month in Kuala Lumpur, Malaysia—an exciting double launch! Within a year of its establishment in Hong Kong in April 2024, INCUBASE Arena has expanded to Malaysia, showcasing its vision of promoting anime culture and building a vibrant community for anime fans.

INCUBASE Studio Founder and CEO Sion Yip aims for INCUBASE to serve as a nurturing base for anime cultural experiences.
INCUBASE Studio Founder and CEO Sion Yip aims for INCUBASE to serve as a nurturing base for anime cultural experiences.

The name “INCUBASE” blends “Incubation” and “Base,” signifying a nurturing ground. In Hong Kong and some other regions, anime is seen as a “subculture” and its considerable influence is often underestimated. Anime not only expresses diverse ideas and values but also sparks boundless creativity, becoming an integral part of many people’s lives and significantly shaping their daily experiences.

“INCUBASE aims to nurture the anime experience, positively impacting society and providing opportunities to introduce anime culture to a wider audience,” said Sion Yip, Founder and CEO of INCUBASE Studio.

New INCUBASE Arena in Mong Kok Spanning 20,000 Square Feet

The new INCUBASE Arena in Hong Kong is located in the basement levels B1 and B2 of Mong Kok’s Chong Hing Square, covering over 20,000 square feet. The entire B2 level is dedicated to exhibition space, while B1 features a variety of new facilities, including an expanded INCUShop with a wide selection of anime merchandise. Additionally, there are popup spaces, card battle zones, capsule toy areas, personalised card machines and photo booths, all designed to provide a diverse experience. The F&B section will transform with different anime themes, offering thematic food and drinks series. INCUBASE Arena is set to become a new hotspot for anime culture and entertainment in Hong Kong.

The first exhibition following the relocation at INCUBASE Arena is the “Chainsaw Man Animation Exhibition – Hong Kong“. This exhibition marks the first overseas showcase, recreating the rich content of the original Japanese exhibition while featuring a unique Hong Kong-exclusive area, allowing fans to immerse themselves in the universe of “Chainsaw Man”. Star voice actor Kikunosuke Toya, who voices the main character Denji, was invited to the opening ceremony as an honourable guest, with the beloved Pochita mascot also making a surprise appearance during the ribbon-cutting ceremony.

“The new location offers more space, providing a diverse exhibition experience for anime fans, and its position in Mong Kok makes it more convenient for visitors. We already have plans lined up for 2025, continuing to bring unforgettable anime cultural experiences to Hong Kong and the surrounding areas, so stay tuned!” shared Sion.

INCUBASE Arena Expands to Malaysia

The new INCUBASE Arena Malaysia is located on the second floor of Fahrenheit88 in Kuala Lumpur, showcasing the “Kamen Rider 50th Anniversary Exhibition” following its successful run in Hong Kong. It hosted the largest gathering of Kamen Rider belt fans in Malaysia’s history, attracting over 400 participants and earning a spot in The Malaysia Book of Records for this largest Kamen Rider exhibition ever!

INCUBASE Arena Malaysia will regularly host various anime exhibitions and related activities, alongside a merchandise shop INCUShop, providing local fans with a new and refreshing anime experience.

During the opening ceremony, Sion expressed gratitude for the support from anime fans and revealed plans for the future expansion of INCUBASE Arena to other Southeast Asian countries, as well as mainland China, Taiwan, and even the Middle East, Europe and America.

With the launch of the new INCUBASE Arena in Hong Kong and Malaysia, INCUBASE Studio remains committed to creating a world-class hub for anime cultural experience, promoting exciting experiences and events, and inviting all fans to join this fun and creative journey.

Please follow the official platforms of INCUBASE Studio and INCUBASE Arena for the latest news and upcoming events:

INCUBASE Studio:

Website: www.incubasestudio.com
Facebook: www.facebook.com/incubase.studio
Instagram: www.instagram.com/incubase.studio

INCUBASE Arena:

Facebook: www.facebook.com/incubase.arena
Instagram: www.instagram.com/incubase.arena

INCUBASE Arena Malaysia:

Facebook: www.facebook.com/incubase.arena.my
Instagram: www.instagram.com/incubase.arena.my

About INCUBASE Studio

INCUBASE Studio curates diverse IP-themed exhibition experiences that celebrate and connect fandoms worldwide. The Studio brings stories to life by blending captivating content with engaging installations and interactive devices. Since its establishment in Hong Kong in 2021, INCUBASE Studio has been committed to realising and promoting Touring Experiences across Asia, pushing the boundaries of physical venues and experiences.

In 2024, INCUBASE Studio established INCUBASE Arena in Hong Kong and Malaysia as hubs for Japanese anime culture and entertainment experiences, continuously hosting a variety of popular anime IP exhibitions and related events to build a vibrant community for anime fans in both regions and the surrounding areas.

www.incubasestudio.com 

 

CUHK Business School: Six Decades of Excellence in Global Business Education


HONG KONG SAR – Media OutReach Newswire – 21 January 2025 – The Chinese University of Hong Kong (CUHK) Business School, Asia’s pioneer in business education, continues to shape the future of global business leadership while celebrating its rich legacy of innovation since 1963.

The CUHK Business School sustains its leading position by leveraging innovative curriculum design and forging an international class mix.
The CUHK Business School sustains its leading position by leveraging innovative curriculum design and forging an international class mix.

Pioneering Business Education

As Asia’s first business school to offer BBA, MBA and EMBA programmes, CUHK Business School has built an influential network of over 45,000 alumni — Hong Kong’s largest business school alumni community. The School maintains its position through innovative curriculum design and robust industry partnerships. Our Faculty members and research centres advance and promote cross-disciplinary knowledge, creating value for the region and the world by driving the development of global business.

Additionally, the School’s strong relationships with enterprises across Greater China and beyond provide students with invaluable real-world experience through internships, consultancy projects, and experiential learning opportunities, preparing them for leadership roles in the dynamic Asian business landscape.

International Partnerships and Opportunities

CUHK Business School has forged strategic partnerships with prestigious institutions worldwide, including dual degree programmes with HEC Paris, Rotterdam School of Management, and The University of Texas at Austin. These collaborations offer students unparalleled international exposure and cross-cultural business insights.

Through dynamic learning experiences, CUHK Business Master’s students can broaden their global perspectives and cultivate valuable networks, fostering professional growth.
Through dynamic learning experiences, CUHK Business Master’s students can broaden their global perspectives and cultivate valuable networks, fostering professional growth.

The School’s global impact is exemplified through its diverse student body. Aleksandr Volkov, a MSc in Management student from Russia, highlights the programme’s practical curriculum: “The interactive teaching style and collaborative environment at CUHK perfectly prepare students for multinational corporate careers.” He also embraces this opportunity to learn more about the China market, leveraging CUHK’s alumni network for insights to guide his future business decisions.

Investment in Excellence

The School offers comprehensive financial support through merit-based scholarships and various financial aid options for both local and international students. For more information and the complete programme listing, visit www.gs.cuhk.edu.hk/ba.

Hashtag: #CUHK

The issuer is solely responsible for the content of this announcement.

About CUHK

Founded in 1963, CUHK combines tradition with innovation in teaching and research, maintaining strong global partnerships to address real-world challenges.

Ascentium Expands Strategic Footprint in the Middle East through Acquisition of Virtuzone

SINGAPORE, Jan. 21, 2025 /PRNewswire/ — Ascentium, a leading global business services platform headquartered in Singapore and backed by Hillhouse Investment, has announced the acquisition of Virtuzone, the UAE’s leading and award-winning provider of company formation solutions, corporate services, and tax consultancy. This strategic move signifies Ascentium’s entry into the dynamic Middle East markets, leveraging Virtuzone’s expertise and local presence to tap into emerging opportunities in the region.

From left to right: Lennard Yong, Founding Management and Group CEO; Chloe Chan, Chief Strategy and Corporate Development Officer; Wendy Wang, Founding Management and Group President from Ascentium, joined by Neil Petch, Chairman and Co-founder; Geoff Rapp, Executive Director and Co-founder; George Hojeige, Group CEO from Virtuzone.
From left to right: Lennard Yong, Founding Management and Group CEO; Chloe Chan, Chief Strategy and Corporate Development Officer; Wendy Wang, Founding Management and Group President from Ascentium, joined by Neil Petch, Chairman and Co-founder; Geoff Rapp, Executive Director and Co-founder; George Hojeige, Group CEO from Virtuzone.

The acquisition of Virtuzone—which includes Virtuzone’s sister companies, Taxready.ae, Next Generation Equity and MAKTABI—positions Ascentium to establish a robust foothold in the United Arab Emirates (UAE) and extend the potential reach across the Gulf Cooperation Council (GCC) region. With foreign direct investment (FDI) inflows in the UAE soaring to USD 30.6 billion in 2023 and the Middle East’s GDP growth projected to reach 3.9% in 2025, this acquisition aligns with Ascentium’s growth strategy in strategic markets.

Lennard Yong, Founding Management and Group CEO of Ascentium, remarked, “We are pleased to expand in the GCC through the acquisition of Virtuzone, and we welcome them to the Ascentium group. Their expertise and commitment to excellence will bolster our organisation and drive us towards our strategic goals. Virtuzone’s strong presence in the Middle East complements our existing capabilities, and together, we look forward to achieving new milestones and delivering exceptional value to our global clientele.”

Neil Petch, Chairman and Co-founder of Virtuzone, commented, “As global leaders in the corporate services industry, Ascentium embodies the core values that Virtuzone has upheld over the years, empowering businesses and delivering customer-centric solutions, transformative innovation, and unrivalled service excellence. By combining their business acumen with our local market leadership and expertise, I believe this new era will bring significantly greater value to our clients, partners and the communities that we serve.”

George Hojeige, Group CEO of Virtuzone, shared, “We are excited to join the Ascentium family, where our shared values and vision will drive us towards even greater success. The opportunities ahead for Virtuzone within Ascentium are truly promising, especially in expanding our reach in the Asia-Pacific region. Ascentium’s global network and expertise will enrich our service offerings and allow us to deliver tailored solutions to our clients, further solidifying our position as a leader in the corporate solutions sector.”

Founded by Zhang Lei in 2005 with initial investor capital from the Yale University Endowment, Hillhouse is a leading diversified asset manager with strategies across equities, credit, and real assets. The firm manages capital for global institutions, including non-profit foundations, endowments, and pensions and has a proven track record of completing large complex transactions across more than 30 countries.

In line with the acquisition, Ascentium will provide additional resources to Virtuzone, enabling the Dubai-based company to expand its suite of corporate services, strengthen its local presence, and serve as a catalyst for Ascentium’s expansion into the Middle East.

About Ascentium

Ascentium is a leading global business services platform dedicated to helping businesses scale greater heights. Headquartered in Singapore and backed by Hillhouse Investment, we empower extraordinary growth through specialised expertise across secretarial, finance, payroll, HR administration, family office, fund administration, GRC, and cross-border & FDI specialist services. Our team of 1,500 professionals spans 9 markets in the Asia-Pacific region, serving over 20,000 active clients across diverse industries. Through innovative, technology-enabled solutions and collaborative approach, Ascentium drives transformative growth, helping clients navigate complex global environments.

For more information, visit: ascentium.com

About Virtuzone

Virtuzone is the UAE’s first and largest company formation specialist and an award-winning corporate service provider. Established in 2009, we have set up the companies of more than 80,000 entrepreneurs from 180 countries.

With over 250 staff members speaking 40 languages, we provide end-to-end company formation and corporate services, ranging from trade licensing and visa processing to bank account opening, tax consultancy, compliance, accounting, legal services, and more.

We are part of Virtugroup, a Dubai-based holding company that comprises Taxready.ae, an FTA-certified tax and accounting firm; Next Generation Equity, which offers citizenship and residency-by-investment programmes; and MAKTABI, a world-class business centre located in the heart of Dubai.

About Hillhouse

Hillhouse Investment is a long-term investor focused on partnering with quality business leaders to help them grow their organizations globally. For almost 20 years, Hillhouse has worked alongside traditional businesses that have redefined their industries. Our goal is to establish alignment and build sustainable, forward-thinking companies that create lasting value for all stakeholders. Hillhouse is a full life-cycle private equity firm, investing for the long term across opportunities in the business services, healthcare, consumer, and industrials sectors. Operating an integrated platform spanning private equity, credit, real assets and public equity, the firm manages capital on behalf of global institutions such as non-profit foundations, endowments, sovereign wealth funds, and pensions.

Media Contact

Nancy So – Associate Director, Group Marketing, Ascentium

nancy.so@ascentium.com

Shaping Tomorrow’s Cities: Lee Kuan Yew Global Business Plan Competition Launches Global Hunt for Sustainable Urban Innovations

SINGAPORE, Jan. 21, 2025 /PRNewswire/ — Singapore Management University’s (SMU) Institute of Innovation and Entrepreneurship (IIE) announced today the opening of applications for the 12th edition of its flagship event – the Lee Kuan Yew Global Business Plan Competition (LKYGBPC), one of Asia’s most globally representative and exciting deep-tech start-up competitions

This year’s LKYGBPC will focus on Urban Solutions and Sustainability. Finalists will also be connected with Southeast Asia’s business families to explore collaborations, and receive exclusive access to senior venture capitalists at the biggest Venture Capital Office Hours in SouthEast Asia. 50 finalist teams (RVLT50) will receive a fully sponsored trip to Singapore for BLAZE – a week-long innovation festival culminating in the LKYGBPC Grand Finale.

The Agency for Science, Technology and Research (A*STAR) will come onboard as the first official Scientific Knowledge Partner for LKYGBPC, bringing a new level of expertise to the competition.

“A*STAR has developed deep technological capabilities critical for a sustainable future, driving Singapore’s sustainability goals through innovation. We are excited to support and nurture young founders in creating transformative solutions that address global urbanisation and sustainability challenges while fostering the growth of a thriving deep-tech startup ecosystem,” said Ms Irene Cheong, Assistant Chief Executive (Innovation & Enterprise) at A*STAR.

Held since 2002, the 11th edition of LKYGBPC in 2023 attracted over 1,000 entries from 1,100 universities spanning 77 countries, including Argentina, China, Germany, the United States, Ukraine, Japan and Indonesia. Competition alumni have successfully gone on to raise US$1 billion over the last five years.

Prof Lim Sun Sun, Vice President of Partnerships and Engagement, SMU, and Lee Kong Chian Professor of Communication & Technology said, “As SMU consistently strives to translate research and entrepreneurial endeavours into real-world solutions that benefit society, we are confident that LKYGBPC’s global reach and impact will enable us to drive concrete, positive change for a better tomorrow.”

Ms Shirley Wong, Entrepreneur-in-Residence at SMU IIE, Managing Partner of TNF Ventures, and Chairperson of the 12th LKYGBPC Advisory Committee said, “The 2025 LKYGBPC unfolds amidst a unique confluence of milestones: Singapore’s 60th anniversary, SMU’s 25th anniversary, and the Singapore Grand Prix 2025. This dynamic backdrop, combined with other major youth-focused festivals that are taking place simultaneously, creates an extraordinary platform for start-up founders to connect with global business leaders and emerging talents in and outside of the competition.”

LKYGBPC participants, who must be university student founders or recent alumni, can enter individually, or as part of a team. More information can be found at smu.sg/lkygbpc.

To submit an application, please log on to: http://smu.sg/LKYGBPC-APPLY.

KN Group Supports Summit on Digital Economy Summit on Data-driven New Quality Productive Forces

Successfully Hosted at Hong Kong Convention and Exhibition Centre

HONG KONG, Jan. 21, 2025 /PRNewswire/ — The Summit on Digital Economy Summit on Data-driven New Quality Productive Forces (“the Summit”) was successfully held on January 16 at the Hong Kong Convention and Exhibition Centre. Organized by the Greater Bay Area International Information Technology Association (GBAITA), co-hosted by the Big Data Governance Association (IBDG) and the Hong Kong Web3.0 Standardization Association, with the Innovation and Technology Bureau of the Hong Kong Special Administrative Region Government as a supporting organization. During the summit, the International Data Industry Alliance was officially established, aiming to make Hong Kong an international data hub by uniting industry forces.

The summit was honored by the presence of Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference and Chairman of the GBAITA, Mr. Leung Chun-ying; the Financial Secretary of the Hong Kong Special Administrative Region Government, Mr. Paul Chan Mo-po; Mr. Liu Guangyuan, Deputy Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region; Mr. Ir Yeung Tak Bun, President of the GBAITA and founding chairman of the Big Data Governance Association; Mr. Ali Pervaiz Malik, Minister of State for Finance and Revenue of Pakistan; Mr. Rogelio V. Quevedo, Commissioner of the Securities and Exchange Commission of the Philippines; Ms. Dini Maghfirra, Executive Director of Satu Data Indonesia, Ministry of National Development Planning Indonesia, who all served as distinguished guests of honor.

As the representative enterprise of the Big Data Governance Association (IBDG) and the exclusive gold sponsor of the summit, KN Group engaged in discussions on data-driven digital economic development with the attending guests, contributing to the digital economy in Hong Kong and the Greater Bay Area. The summit focused on innovative applications of data across various industries and sectors to effectively unleash new productivity. Guests from the Philippines, Indonesia, and Pakistan participated in a roundtable discussion, sharing their perspectives on promoting the development of data ecosystems. They discussed how data governance and technological innovation can drive sustainable development of the digital economy, enhancing regional economic competitiveness.

Mr. Wang Yi, Senior Vice President of KN Group, stated, “We are honored to participate in and support this significant summit. KN Group has been dedicated to leveraging advanced artificial intelligence technology and big data analytics to drive innovation and development in financial services. Through this event, we hope to contribute to the development of the digital economy in Hong Kong and the around the world.”

Meide Group held the Global Fluid and Environmental Testing Summit Forum

JINAN, China, Jan. 21, 2025 /PRNewswire/ — On January 17-18, 2025, the “Global Fluid and Environmental Testing Summit Forum and Meide Group Fluid and Environmental Testing Research Institute (Phase I) Opening Ceremony” organized by Meide Group was a complete success.


Wang Hao, an academician of the CAE Member, Zhao Li, a national engineering survey and design master, UL, VdS, KC and other nearly 100 experts, masters and more than 50 global enterprise representatives from all over the world participated in the event. Dave Viola, President of the World Water Association, sent a congratulations message to Meide Group via video. Kong Linglei, Chairman of the Board of Directors of Meide Group, Chang Cheng and Guo Lei, Vice Chairmen, Yu Ruishui, Assistant Chairman, and Wang Shixin, Dean of the Research Institute attended the big event.

This forum focuses on green, low-carbon, and high-quality development, jointly exploring new opportunities in the fluid transportation industry and exploring new perspectives for high-quality development. At the same time, a ribbon cutting ceremony was held for the opening of Meide Group’s Fluid and Environmental Testing Research Institute. 21 authoritative institutions, including China Architecture Design and Research Institute, China Foundry Association, China Pump and Valve Inspection and Testing Center (Zhejiang), and China Polymer Quality Inspection Center, awarded the institute with plaques.

Meide Group Fluid and Environmental Testing Research Institute is committed to building a comprehensive intelligent fluid laboratory. The largest diamater DN1200 integrated intelligent control multi zone fluid testing system and environmental testing laboratory have more than ten leading technologies, integrating raw material inspection, pipe and valve testing, flow calibration, type testing and other functions, actively solving key technical problems in the fields of fluid mechanics and fluid engineering.