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KBP’s Contest of Injunction Obtained by Novo Nordisk Continues in Arbitration

SINGAPORE, Aug. 13, 2025 /PRNewswire/ — KBP Biosciences Pte. Ltd. (the “Company“) today issued a statement addressing a further decision by the Singapore International Commercial Court (the “Court“) to maintain the temporary injunction against the Company and its founder, Dr. Huang Zhenhua (“Dr. Huang“), in support of arbitration proceedings respectively commenced by the Company and by Novo Nordisk A/S (“Novo Nordisk“).

Following the Court’s judgment today, the validity of the injunction application sought by Novo Nordisk will be determined via the arbitral process, which the Company commenced before Novo Nordisk. More importantly, in the course of judgment, the Court examined a range of issues central to the dispute, including the conduct of clinical trials and the adequacy of due diligence. The findings of the Court are subject to further scrutiny by the arbitral tribunal, which will have more time and the benefit of hearing live testimony, unlike the Court.   

1.    Independent Testimony by Steering Committee Members

The judgment cites to the independent statements from steering committee members comprising Dr. Bertram Pitt and Dr. Janet Wittes, who are highly distinguished and well respected in the field. These evidence include an open letter by Dr. Pitt and Dr. Wittes on December 18, 2024, stating that “neither [Novo] nor KBP has provided any convincing evidence that the results from [the Bulgaria site] are fraudulent”. That open letter was unavailable to the Court in the previous ex parte hearing.

Further, if the Bulgaria site were indeed tainted by serious irregularities and fraud, the “FDA and EME would have responded. However, they have not responded, and Novo did not disclose this” in the previous ex parte hearing.

2.    Statistical Errors and the Futility Determination

Eight months after it acquired Ocedurenone, Novo Nordisk terminated the clinical trials for Ocedurenone because it thought they were futile. However, Parexel International (IRL) Ltd (“Parexel“) later “informed Novo that statistical errors had been made in compiling the data”. The judgment also states that:

“The defendants submit that Novo failed to disclose errors in the Futility Determination. After the Futility Determination was made, Parexel had informed Novo that statistical errors had been made in compiling the data. After correcting for the errors, Ocedurenone satisfied only one of two futility criteria (namely, it satisfied the SBP futility criteria but not the p-value futility criteria), such that the ‘anticipated hypothesis’ is that ‘treatment effect is significant but not substantial’, and Ocedurenone was still worth ‘continuing current development plans’ and not ‘worthless’ […]”.

3.    Failure to Disclose Information and Documents Provided

The judgment highlights that Novo Nordisk had access to “a full electronic data room with documents from KBP”, which would have allowed Novo Nordisk to conduct its own analysis. These documents included “data on the vital signs of every patient enrolled in Phase 2, identifying the site they were from as well as their [systolic blood pressure (“SBP“)]”. The judgment further states that:

“The defendants allege that Novo failed to disclose the material fact that during due diligence, KBP supplied Novo with raw data in the form of the Vital Signs Data Listing and the CTA Package. Novo did not open these documents, much less request a different format for the data.”

Every pharmaceutical company has a corporate social responsibility to care for patients and address unmet medical needs.

“KBP believes that Novo Nordisk erred in stopping the development of Ocedurenone because it could help patients. KBP intends to make this proof to the tribunal,” said Dr. Huang Zhenhua, founder and chairman of the Company. 

KBP has expended significant time and resources into the development of Ocedurenone, and it remains committed to its cause. As such, the Company and Dr. Huang will strive to engage the new management to find a way forward for Ocedurenone, whilst vigorously pursuing their rights in all legal proceedings commenced, including a possible appeal from the decision of the Singapore Court.

All media inquiries can be directed to: info@kbpbiosciences.com

About KBP Biosciences

KBP Biosciences is a global, clinical-stage biotechnology company, headquartered in Singapore, focused on discovering, developing, and commercializing innovative small-molecule therapeutics for the treatment of serious cardiorenal and infectious diseases with large unmet medical needs.

Second heartbeat

BEIJING, Aug. 13, 2025 /PRNewswire/ — A news report from chinadaily.com.cn

In this documentary, three patients suffered from advanced heart failure share their stories of how China’s independently-developed non-contact full maglev artificial heart brought hope to their lives. Click to learn more!

 

 

FPT Corporation Strengthens Vietnam-Korea Partnerships in Semiconductors and High-Quality Workforce Training

SEOUL, South Korea, Aug. 12, 2025 /PRNewswire/ — Within the framework of the Vietnam–Korea Economic Forum 2025, and in the presence of Prime Minister of the Republic of Korea Kim Min-seok and General Secretary of the Communist Party of Vietnam Central Committee To Lam, global IT services and technology company FPT signed strategic agreements with ABOV Semiconductor and Gachon University. These partnerships aim to advance semiconductor technology development and foster high-quality human resource training between the two nations.

Mr.  Le Truong Tung, Chairman of FPT University (front row, 5th from left) and Mr. Ha Minh Tuan, Ha Minh Tuan, FPT Software Vice President and FPT Software Korea Chief Executive Officer, FPT Corporation (front row, 6th from left) at the signing ceremony during the Vietnam–Korea Economic Forum 2025 in Seoul
Mr. Le Truong Tung, Chairman of FPT University (front row, 5th from left) and Mr. Ha Minh Tuan, Ha Minh Tuan, FPT Software Vice President and FPT Software Korea Chief Executive Officer, FPT Corporation (front row, 6th from left) at the signing ceremony during the Vietnam–Korea Economic Forum 2025 in Seoul

Co-developing Next-Generation Chips with ABOV Semiconductor

FPT’s agreement with ABOV Semiconductor –  a leading designer and manufacturer of microcontrollers, advanced nonvolatile memory and various semiconductor solutions – focuses on joint research, design, and development of next-generation chips, while expanding the market and application of semiconductor products in South Korea. The collaboration aims to cooperate in using chips designed by FPT, particularly in South Korean market. They will also collaborate in launching the project regarding collaborative research, design and development of next generation Chips to build into a mutual complementary relationship between their respective technical capabilities and to develop competitive products. As part of the partnership, the Parties will discuss the details and frameworks of FPT’s semiconductor engineering service on a case-by-case basis.

As part of its strategy, FPT aims to build a comprehensive semiconductor ecosystem, from skilled talent to advanced services such as custom IC design, advanced packaging, and semiconductor testing.

High-Tech Human Resource Training with Gachon University

In education, FPT University and Gachon University signed an agreement to promote student exchange and education at both undergraduate and graduate levels, organize joint academic programs, facilitate faculty and scholar exchanges, and share academic information, materials, and publications, along with other academic activities mutually agreed upon by the two universities.

FPT University is a pioneer in Vietnam in training IT professionals in AI, cybersecurity, software engineering, and semiconductor IC design, with programs aligned to industry needs and international standards.

Enhancing Vietnam–Korea Technology Cooperation

Operating in South Korea since 2016, FPT has nearly 2,000 employees working locally and remotely from Vietnam, serving major clients including LG Electronics, LG CNS, Shinhan Bank, Daegu Bank, and Shinsegae I&C. Recognized in Gartner’s Top 200 technology companies in South Korea (2020–2021), FPT Corporation is the leading Vietnamese enterprise in revenue and workforce scale in this competitive market.

About FPT

FPT Corporation (FPT) is a globally leading technology and IT services provider headquartered in Vietnam and operates in three core sectors: Technology, Telecommunications, and Education. Over more than three decades, FPT has consistently delivered impactful solutions to millions of individuals and tens of thousands of organizations worldwide. Committed to elevating Vietnam’s position on the global tech map and delivering world-class AI-enabled solutions for global enterprises, the Corporation focuses on three critical transformations: Digital Transformation, Intelligence Transformation, and Green Transformation. In the first half of 2025, FPT recorded revenue of approximately USD 1.29 billion and profit before tax of around USD 243 million, representing year-on-year growth of 11.4% and 18.5%, respectively. For more information about FPT’s global IT services, please visit  https://fpt.com/en

 

Aquent, Sirius and Talent Quarter commit to new Age Inclusive Recruiter program

SYDNEY, Aug. 13, 2025 /PRNewswire/ — APSCo Australia, in collaboration with AgeInc, is pleased to announce Aquent, Sirius and Talent Quarter as the first foundation members to commit to the principles of the APSCo Age Inclusive Recruiter program.

Launched this month, the initiative recognises recruiters who demonstrate a strong commitment to fostering an inclusive work environment that values and supports employees of all ages.  Participating agencies must commit to educate and train senior leaders and recruitment consultants to improve their knowledge and understanding of age discrimination.

Lesley Horsburgh, CEO, APSCo Australia, said: “We are absolutely delighted to welcome Aquent, Sirius and Talent Quarter as our foundation members and look forward to working with them and other APSCo members to help tackle age discrimination.’ Horsburgh continued, ‘The timing couldn’t be better as new research from AHRI and the AHRC again shows a persistent reluctance by HR managers to hire people aged over 50.’

Danielle Johnson, National Director, Sirius said: “As recruiters, we shape the workforce every day and that comes with a responsibility to lead on inclusion. Signing up to the APSCo Age Inclusive Recruiter program is a natural step for us. We want to make sure our practices reflect the reality that talent comes at every age. This isn’t just about fairness, it’s about giving our clients access to the widest, richest pool of experienced and capable candidates.”

Sue Healy, CEO of Talent Quarter added: “Mature healthcare professionals bring deep clinical knowledge, are calm under pressure, and the mentorship that younger teams rely on. This program helps us challenge outdated biases and ensure every qualified candidate, regardless of age, gets the opportunity to continue to contribute.”

Monique Richards, Managing Director, Aquent said: “The Age Inclusive Recruiter program challenges the bias that’s been limiting workplaces for too long. In a world of talent shortages and as we grapple with an ageing population, overlooking experienced candidates just doesn’t make sense. This program gives us the tools and training, we need to help build workforces that truly reflect the strength of all generations.”

Richard Spencer, Founder of AgeInc concluded: “Ageism is the last socially acceptable form of prejudice in Australian employment, and we’re delighted to partner with APSCo and the wider recruitment industry to help raise awareness of age discrimination in the workplace.’

Socket Mobile Approved as Official My Number Card Reader Provider in Japan

FREMONT, Calif., Aug. 13, 2025 /PRNewswire/ — Socket Mobile, a leading provider of data capture and delivery solutions, is pleased to announce that its SocketScan S370 and S550 readers have been officially approved by the Japanese government as certified My Number Card readers. Both products now appear on Japan’s official list of eligible devices for accessing government services through the My Number Card program, an expansive and growing initiative designed to digitize citizen identification and enable secure access to public services.

The My Number Card system is Japan’s national identification platform, managed by the Digital Agency of Japan. It serves as a foundational piece of the country’s digital infrastructure, enabling citizens to securely access services such as tax filings, social security, health insurance, and more—now even extending to integration with Apple Wallet on iPhone. As a successful example of a national digital identity initiative, the My Number Card program demonstrates how governments can deliver citizen services in a safe, secure, and user-friendly way. With over 100 million cards issued and rising adoption across government and commercial services, the program represents a significant opportunity for Socket Mobile and its partners in Japan.

“Our approval as an official My Number Card reader provider marks a major milestone for our presence in Japan,” said Dave Holmes, Chief Business Officer at Socket Mobile. “The scale and reach of the My Number Card program are immense, especially with its recent integration into Apple Wallet on iOS. This designation reinforces our position as a trusted provider of secure, user-friendly data capture tools for businesses and developers integrating My Number Card functionality into their solutions. Being listed as an approved provider not only validates the performance and reliability of our mobile readers, but also opens up exciting opportunities for us in one of the world’s most forward-looking digital economies.”

Socket Mobile is well positioned in the digital ID and mobile credential reader space, providing readers that are ISO 18013-5 compliant and aligned with international standards for mobile driver’s licenses and identity credentials. This ensures broad compatibility and long-term support for evolving global digital ID initiatives.

Socket Mobile’s approved readers include the S550, a compact and contactless NFC reader, and the S370, which supports both NFC and 1D/2D barcode scanning. Both are ideal for mobile wallet applications. Designed for identity authentication, payment, and digital credential use cases, the readers pair easily with smartphones and tablets via Bluetooth®.

The S550 and S370 are fully compatible with all existing applications that use the latest version of Socket Mobile’s CaptureSDK and can be evaluated immediately. For developers not yet using CaptureSDK, integration provides reliable, consistent data capture performance and gives end-users the flexibility to choose the Socket Mobile reader that best fits their needs.

Socket Mobile remains committed to supporting digital identity adoption and providing flexible, high-performance tools to enable next-generation public and private services.

Discover how the S370 and S550 can support your mobile identity, payment, and credential applications.

Media Contact: David Holmes, David.holmes@socketmobile.com

Logo – https://laotiantimes.com/wp-content/uploads/2025/08/socket_mobile_logo.jpg 

Willog Partners with Republic of Korea Army to Modernize Military Logistics with AI and IoT Solutions

SEOUL, South Korea, Aug. 12, 2025 /PRNewswire/ — Willog, a leading provider of IoT and AI-powered supply chain intelligence solutions, today announced the signing of a Memorandum of Understanding (MOU) with the Republic of Korea (R.O.K.) Army Consolidated Supply Depot(Army Logistics Command). The partnership marks a significant step in the South Korean Army’s ongoing digital transformation.

Willog Partners with Republic of Korea Army to Modernize Military Logistics with AI and IoT Solutions
Willog Partners with Republic of Korea Army to Modernize Military Logistics with AI and IoT Solutions

Under the agreement, Willog will provide its cutting-edge technology and expertise to support the digital transformation of the Army’s supply chain. This collaboration will involve joint research, technical advisory, and the integration of Willog’s advanced ICT logistics solutions to enhance the efficiency and reliability of military logistics operations.

The R.O.K. Army Consolidated Supply Depot, which oversees all logistical support for the nation’s army, is actively modernizing its capabilities by adopting technologies like unmanned forklifts and autonomous guided vehicles (AGVs). Last year, its 1st Supply Group (1st Logistics Group) became the first unit in the entire R.O.K. armed forces to receive a ‘Smart Logistics Center’ certification from the Ministry of Land, Infrastructure and Transport, underscoring its commitment to innovation.

Under the MOU, Willog will deploy its proprietary IoT devices, which monitor not only location but also critical in-transit conditions like temperature, humidity, and shock. This data will be analyzed by Willog’s AI platform to provide predictive insights, ensuring the integrity of military assets and improving overall operational efficiency. Willog has a proven track record of applying this technology to high-risk logistics environments, including pharmaceuticals, precision instruments, and manufacturing. This partnership represents a pivotal moment, marking the company’s first major expansion into the public sector and validating its technology for a new, mission-critical environment.

“Integrating advanced private-sector technology is essential for the future of military logistics,” said an official from the Army Consolidated Supply Depot. “Through our partnership with Willog, we aim to build a more efficient and sophisticated logistics system for our armed forces.”

“This MOU marks a significant first step in the digital transformation of Korea’s military logistics,” said Sunghoon Bae, Co-CEO of Willog. “We are committed to leveraging our technology and experience to help strengthen the smart logistics capabilities of the R.O.K. Army, and eventually the Navy and Air Force as well.”

About Willog

Willog is an IoT- and AI-powered supply chain intelligence company that provides validated, real-time data and predictive analytics to manage logistics risks and enhance supply chain transparency. A recipient of the Scale-up TIPS program from the Ministry of SMEs and Startups and backed by successful Series A and B funding rounds, Willog has a proven record of market and technological innovation. Headquartered in Seoul, South Korea, with offices in Singapore, Japan, and the United States, Willog is actively pursuing global expansion and serves clients in the pharmaceuticals, manufacturing, and distribution industries worldwide.

For more information, visit www.willog.io.

EQT to sell Nexon Asia Pacific to Adamantem Capital

  • EQT to sell Nexon Asia Pacific, a leading digital and IT services provider in Australia that delivers end-to-end solutions for the mid-market and enterprise market, to Adamantem Capital.
  • During EQT’s investment period, Nexon has transformed into a scaled and diversified business, with an expanded client base and strong financials to power its next phase of growth.
  • With over 600 employees, Nexon now serves more than 1,000 mid-market and enterprise customers across Australia with its diversified offerings and end-markets.

SYDNEY, Aug. 13, 2025 /PRNewswire/ — EQT is pleased to announce that the EQT Mid-Market Asia III fund (“EQT”) has agreed to sell Nexon Asia Pacific (“Nexon” or the “Company”) to Adamantem Capital. The transaction marks a significant milestone in Nexon’s growth journey, following its transformation that began with EQT’s investment in 2019.

Founded in 2000, Nexon is an award-winning digital and IT services provider headquartered in Sydney, Australia. The Company offers a broad suite of solutions to clients who require end-to-end capabilities and specialist expertise in security, cloud and digital solutions. Over the past six years, Nexon has scaled substantially and registered more than five-fold growth in sales revenue.

Since acquiring Nexon in July 2019, EQT has supported a comprehensive transformation led by Nexon’s Founder and CEO, Barry Assaf. During this time, Nexon has successfully executed a complementary organic and acquisition-assisted growth strategy and completed a total of eight bolt-on acquisitions, including Liveware Solutions, Veridian Solutions, Equate Technologies and Computer Systems Australia. Nexon has expanded from 150 employees at the time of acquisition to a workforce of over 600. The Company now serves more than 1,000 mid-market and enterprise customers in Australia.

Frank Heckes, Partner in the EQT Private Capital Asia advisory team, Co-Head of EQT Private Capital Australia, and Co-Head of Technology in Asia, said: “Over the course of our partnership, we’ve been fortunate to work closely with the talented leadership team at Nexon, whose strategic vision and deep industry expertise have been critical to the Company’s success. Together, we’ve built on Nexon’s strong foundations, driving innovation, expanding its service offering, and strengthening its market position. We are proud of what has been achieved and are confident that the Company is well-positioned for continued success in its next chapter.”

Commenting on the transaction, Barry Assaf, Founder and CEO of Nexon Asia Pacific, said: “We’re incredibly proud of how far Nexon has come. With EQT’s support, we’ve grown to become one of Australia’s leading IT services platforms, scaling our team, broadening our customer base and significantly expanding our capabilities across cloud, security and digital solutions. EQT has been a true partner in helping us execute our growth strategy, including acquisitions that have strengthened our service offering and market reach. As we look to the future, we’re excited to build on this momentum and continue our journey with Adamantem Capital, driving even greater impact for our customers across Australia.”

EQT has been investing in Australia and New Zealand since 2010 and established its Sydney office in 2020, focusing on target sectors such as technology, services and healthcare. EQT’s full-lifecycle investment approach spans early-stage growth to large-cap buyouts, with recent investments from its Private Capital strategy including Compass Education, VetPartners, PageUp, and Neara. The firm is active in Australia across multiple asset classes – including Private Capital, Real Estate and Infrastructure – as well as through its Private Wealth strategy. EQT also leverages a global network of more than 700 Industrial Advisors, including over 50 based in Australia and New Zealand, who play a critical role in developing investment opportunities and driving long-term value creation.

The transaction is subject to customary conditions and approvals. EQT was advised by Houlihan Lokey and JWS on the transaction.

Contact

EQT Press Office, press@eqtpartners.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/eqt-to-sell-nexon-asia-pacific-to-adamantem-capital,c4217298

The following files are available for download:

https://mb.cision.com/Main/87/4217298/3607435.pdf

250813 Press Release_EQT to sell Nexon Asia Pacific to Adamantem Capital

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Image Nexon

Ascletis Announces ASC47, a Muscle-Preserving Weight Loss Drug Candidate for Treatment of Obesity, Demonstrated Greater Efficacy with Tirzepatide than Semaglutide in a Preclinical Model

–         The combination of ASC47 low dose with tirzepatide in diet-induced obese (DIO) mice resulted in an 87% greater reduction in body weight compared to tirzepatide monotherapy.

 –          ASC47 low dose in combination with tirzepatide demonstrated statistically significantly greater increase in efficacy than ASC47 low dose in combination with semaglutide, 87% vs 55%, respectively, in the DIO mouse model.

–          The combination of ASC47 low dose with tirzepatide also restored the body composition of obese mice to the level of healthy non-obese mice.  At the end of treatment, the percentage of total muscle mass over the total body weight of obese mice treated with the combination of ASC47 low dose with tirzepatide was similar to healthy non-obese mice, 60.4% vs 62.0% respectively.

HONG KONG, Aug. 13, 2025 /PRNewswire/ — Ascletis Pharma Inc. (HKEX:1672, “Ascletis”) announces encouraging efficacy results from its study in diet-induced obese (DIO) mice combining ASC47, a first-in-class muscle-preserving weight loss drug candidate for the treatment of obesity, with tirzepatide.

ASC47 is an adipose-targeted, once-monthly subcutaneously (SQ) injected thyroid hormone receptor beta (THRβ) selective small molecule agonist, discovered and developed in-house at Ascletis. ASC47 possesses unique and differentiated properties to enable adipose targeting, resulting in dose-dependent high drug concentrations in the adipose tissue.

The objective of the DIO mouse study was to compare a low dose of ASC47 (9 mg/kg, single dose) combined with tirzepatide (3 nmol/kg, SQ, once daily) against tirzepatide monotherapy (3 nmol/kg, SQ, once daily). The treatment duration in the DIO mice was 14 days. Results showed that the combination of ASC47 low dose with tirzepatide was superior to tirzepatide monotherapy, with an average total body weight reduction of 38.1% compared to 20.4%, achieving 87% more relative weight loss compared to tirzepatide monotherapy (Table 1). In comparison, the combination of ASC47 low dose with semaglutide demonstrated statistically significantly lower efficacy  (p=0.006)  in the DIO mouse study, showing a 55% greater reduction in body weight compared to semaglutide monotherapy.

Table 1. ASC47 low dose demonstrated greater efficacy with tirzepatide than semaglutide

Group

Dosing

Total body

weight change
from baseline

Greater body weight
reduction of combination
vs monotherapy

Obese mice treated
with tirzepatide

Tirzepatide,

3 nmol/kg,

SQ, QD

-20.4 %

Obese mice treated
with ASC47 low
dose combination
with tirzepatide

ASC47,

9 mg/kg,

SQ, a single dose

+

tirzepatide,

3 nmol/kg,

SQ, QD

-38.1%

(p<0.0001 vs
tirzepatide monotherapy)

87 %

Obese mice treated
with semaglutide

Semaglutide,

30 nmol/kg,

SQ, QD

-23.1 %

Obese mice treated
with ASC47 low
dose combination
with semaglutide

ASC47,

9 mg/kg,

SQ, a single dose

+

semaglutide,

30 nmol/kg,

SQ, QD

-35.9%

(p<0.0001 vs
semaglutide monotherapy

55 %

Note: Treatment duration: 14 days for tirzepatide monotherapy and ASC47/tirzepatide combination therapy; 28 days for semaglutide monotherapy and ASC47/semaglutide combination therapy; Obese mice: diet-induced obese mice; SQ: subcutaneous; QD: once daily.

The combination of ASC47 low dose with tirzepatide also restored the body composition of obese mice to the level of healthy non-obese mice.  At the end of treatment, the percentage of total muscle mass over the total body weight of obese mice treated with ASC47 low dose and tirzepatide (60.4%) was similar to healthy non-obese mice (62.0%), indicating healthy weight loss. Tirzepatide monotherapy was unable to restore body composition to healthy levels.

“These preclinical data build upon a body of evidence demonstrating the potential of ASC47 as an important therapeutic approach for the treatment of obesity.” said Jinzi Jason Wu, Ph.D., Founder, Chairman and CEO of Ascletis, “With topline data in participants with obesity from the combination study of ASC47 with semaglutide coming soon, we look forward to the combinations of ASC47 with other incretin drugs including tirzepatide in future clinical trials.”

About Ascletis Pharma Inc.

Ascletis Pharma Inc. is a fully integrated biotechnology company focused on the development and commercialization of potential best-in-class and first-in-class therapeutics to treat metabolic diseases. Utilizing its proprietary Artificial Intelligence-Assisted Structure-Based Drug Discovery (AISBDD) Platform and Ultra-Long-Acting Platform (ULAP), Ascletis has developed multiple drug candidates in-house, including its lead program, ASC30, a small molecule GLP-1R agonist in development as a once-daily oral tablet and once-monthly subcutaneous injection for weight management. Ascletis is listed on the Hong Kong Stock Exchange (1672.HK).

For more information, please visit www.ascletis.com.

Contact:

Peter Vozzo
ICR Healthcare
443-231-0505 (U.S.)
Peter.vozzo@icrhealthcare.com

Ascletis Pharma Inc. PR and IR teams
+86-181-0650-9129 (China)
pr@ascletis.com
ir@ascletis.com