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Olea and Riverchain announce strategic partnership to address working capital challenges in construction industry

HONG KONG and SINGAPORE, May 6, 2025 /PRNewswire/ — Olea Global Pte Ltd (“Olea”) and Riverchain International Ltd (“Riverchain”) are pleased to announce a strategic partnership aimed at addressing the significant working capital lock-up in the construction industry. This collaboration will leverage both companies’ expertise to provide innovative financing solutions tailored specifically for construction companies, particularly SMEs that are often underserved by tradition financial institutions.

collaboration combines Olea's global financing capabilities with Riverchain's specialised knowledge of the construction sector to deliver innovative working capital solutions specifically designed for construction companies, with a focus on underserved SMEs.
collaboration combines Olea’s global financing capabilities with Riverchain’s specialised knowledge of the construction sector to deliver innovative working capital solutions specifically designed for construction companies, with a focus on underserved SMEs.

The partnership will combine Olea’s global financing capabilities with Riverchain’s specialised knowledge and asset origination expertise of the construction sector to deliver efficient working capital solutions for construction businesses across the APAC region.

Ben Wong, CEO of Riverchain, said: “The construction sector faces unique challenges, such as payment delays and cash flow management issues, which can severely impact business operations and growth, ultimately compromising the project supply chain. This partnership with Olea enhances our ability to take a technology-led approach to deliver more comprehensive and efficient financing solutions that address payment delays and provide the liquidity needed for construction companies to take on new projects without financial constraints. Together, we aim to transform how construction businesses manage working capital.”

Amelia Ng, CEO of Olea ,  said: “We are delighted to partner with Riverchain to extend our financing solutions to the construction industry, which has traditionally faced significant working capital challenges. This collaboration allows us to demystify what has often been an opaque supply chain by leveraging our joint technologies to provide specialized funding options. These solutions address the unique payment cycles and liquidity needs of the construction sector, helping businesses grow sustainably while managing cash flow effectively.”

The construction industry is known for its extended payment terms and complex supply chains, which often create working capital pressures for contractors and suppliers. Add to this a volatile economic environment, characterised by rising material costs and skilled labour shortages. This partnership aims to alleviate these challenges by providing accessible, flexible financing solutions designed specifically for construction payment cycles.

The Riverchain-Olea partnership plans to finance construction projects, focusing on Asia-Pacific markets. Experts predict continued growth in the sector, with the Asia-Pacific construction output expected to reach USD 8.65 trillion by 2030. However, working capital constraints remain a significant barrier, particularly for small and medium-sized contractors. The Riverchain-Olea solution addresses this working capital lock-up through digitalized financing processes that provide faster access to capital and greater visibility across project payment cycles.

About Riverchain

Riverchain is a trusted provider of working capital solutions to the construction industry. Headquartered in Hong Kong, Riverchain is actively expanding its footprint across the Southeast Asian region. Having already supported 1,200 construction businesses in Hong Kong, Riverchain provides cash advances of up to 90% on invoices—allowing companies to receive payments up to 60 days before their original expected date.

Beyond financing, Riverchain is building a more transparent and resilient construction ecosystem through the proprietary technology that improves visibility of project performance and payment flows. Through Riverchain’s specialised industry knowledge and digital infrastructure, Riverchain is modernising construction finance and empowering businesses across the supply chain to grow confidently and sustainably.

About Olea

Olea is a digital infrastructure platform that connects global liquidity with trade and supply chain opportunities, fuelling growth and unlocking potential worldwide. Olea has diverse liquidity pools with varying appetite and focuses, Olea’s vision is to connect capital to opportunity. It has a strong conviction in the role of trade to support sustainable economic development across countries, particularly emerging markets, particularly Asia where many smaller suppliers are based. Olea supports suppliers and buyers in over 70 corridors.

PPA TOUR ASIA LAUNCHES 2025 CALENDAR WITH CHINA SLAM IN THE SPOTLIGHT

SINGAPORE, May 6, 2025 /PRNewswire/ — The global pickleball revolution is set to break new ground with the announcement of the inaugural PPA Tour Asia events for 2025. Having already found success in the USA, the premier tour is ready to deliver an unmatched pickleball experience to a new corner of globe. PPA Tour Asia will launch with five tournaments on the initial calendar, headlined by the China Slam.

PPA TOUR ASIA LAUNCHES 2025 CALENDAR WITH CHINA SLAM IN THE SPOTLIGHT
PPA TOUR ASIA LAUNCHES 2025 CALENDAR WITH CHINA SLAM IN THE SPOTLIGHT

PPA Tour Asia features a three-tier tournament structure – Slam, Cup and Open events – ensuring all regions and levels of competition experience the premier pickleball tour. Points earned at these events count towards the PPA Tour Asia Rankings, as players chase the prestigious No.1 crown – the ultimate recognition for dominance in Asian professional pickleball.

  • Slam: 2000 points with an estimated US$1 million in prize money and payouts, bringing together elite international talent including top American pros, Australian pros and Asia’s best players.
  • Cup: 1500 points and an estimated US$500,000 each in prize money and payouts, showcasing fierce competition among established regional professionals and rising stars.
  • Open: 1000 points and a minimum of US$50,000 in prize money, elevate regional talent and grow the sport throughout Asia.

Malaysia, one of the fastest-growing regions for pickleball in the world, will host the tour’s opening event in July. The schedule then moves into an exciting East Asian swing, with back-to-back tournaments in Hong Kong and Japan in August.

The season then peaks with the China Slam, bringing the premier tier to the most populous country in the world. Scheduled for October 1-5 during China’s Golden Week holiday celebrations, the tournament offers an ideal opportunity to showcase pickleball and put a spotlight on the emerging sport.

  • Panas Kuala Lumpur Open | July 3-6
  • Hong Kong Open | August 19-24
  • Sansan Fukuoka Open | August 26-31
  • China Slam | October 1-5
  • Kuala Lumpur Cup | October 9-12

“With the launch of the PPA Tour Asia calendar, we’re bringing world-class pickleball action to the fastest-growing markets in the sport. From Malaysia to China, these events will showcase the best talent while creating new opportunities for players and fans across the region. The China Slam is also part of the UPA International Championship Series, creating the foundation of pickleball’s global expansion.” Kimberly Koh, Managing Director, UPA Asia.

More events for 2025 will be announced soon.

To keep up to date on the latest pickleball news, head to ppatour-asia.com

About UPA | PPA Tour Asia

UPA Asia, operating the PPA Tour Asia, is the premier professional and amateur pickleball tour in Asia, dedicated to expanding the sport’s highest level across the region. We focus on developing professional athletes through world-class events, elite training programs, and professional pathways while engaging new fans and growing participation. By forging strategic partnerships and delivering exceptional tournament experiences, we’re positioning pickleball as a leading sport in Asia. For more information, please contact: media@upa-asia.com.

PPA Tour Asia: Instagram | Facebook | Youtube | LinkedIn

UOB Kay Hian and FNZ Launch Next-Generation Platform to Transform Unit Trust Investing in Singapore

  • UOB Kay Hian and FNZ have joined forces to launch a direct-to-consumer (D2C) platform, making Unit Trust investing simpler and more accessible for retail and private clients in Singapore.
  • The platform enhances the Unit Trust investment experience through an intuitive client portal, seamless order management, market-leading banking solutions, advanced reporting, and a dedicated client servicing module.
  • This launch reaffirms UOB Kay Hian and FNZ’s commitment to delivering cutting-edge, accessible investment tools and trading solutions that empower investors.
  • The partnership further strengthens UOB Kay Hian’s leadership in securities brokerage while reinforcing FNZ’s position as a trusted global wealth management platform, partnering with over 650 global financial institutions.

SINGAPORE, May 6, 2025 /PRNewswire/ — UOB Kay Hian, one of Asia’s largest securities brokerage firms, has partnered with FNZ, a global leader in wealth management technology, to launch a new digital platform that is set to transform Unit Trust investing in Singapore.

The innovative platform streamlines the investment journey, providing retail and private clients with a powerful and intuitive digital experience. Through advanced digital capabilities and seamless access via a direct-to-consumer (D2C) channel, investors can now navigate their Unit Trust investments with greater confidence and ease.

The newly launched platform offers a comprehensive suite of Unit Trust investment solutions, including customer servicing, an intuitive client portal, order management, cash management, Central Provident Fund (CPF) administration, and advanced reporting tools. By streamlining operations and enhancing client centricity, UOB Kay Hian simplifies Unit Trust investment, empowering all investors to grow their wealth more effectively.

“Partnering with FNZ has allowed us to develop a Unit Trust Platform that redefines the investment experience by combining innovative digital tools and intuitive investment solutions,” said Oh Whee Mian, Senior Executive Director, UOB Kay Hian. “Our collaboration with FNZ reflects our dedication to pair innovative technology with personalised services by our highly experienced Trading Representatives, to make investing more accessible and rewarding to our clients.”

FNZ’s commitment to the Asia-Pacific region is central to this partnership, bringing together its global technology expertise with deep local market knowledge to enhance wealth management solutions in Singapore. The company continues to invest in the region’s financial ecosystem, underscored by the recent appointment of Anthony Habis as Group Head of APAC, reinforcing FNZ’s long-term commitment to delivering transformative solutions for investors across the region.

“This partnership is a testament to FNZ’s dedication to delivering world-class digital wealth management solutions,” said Anthony Habis, Group Head of APAC. “By working closely with UOB Kay Hian, we have developed a platform that simplifies investing and enhances accessibility, ensuring clients enjoy a seamless and high-quality experience.”

The launch marks an important milestone in Singapore’s wealth management sector, as UOB Kay Hian and FNZ continue to drive digital transformation, equipping investors with the tools they need to navigate today’s markets with confidence.

UOB Kay Hian, headquartered in Singapore, is one of the region’s most prominent securities brokerage firms. With a strong reputation for excellence and a commitment to innovation, the firm continues to lead the way in delivering cutting-edge investment solutions for its clients.

FNZ has built long-standing, trusted partnerships with many of the region’s leading financial institutions, including Centrepoint Alliance, Colonial First State, Consilium, Jarden, National Australia Bank, Principal Asset Management, and UOB Asset Management. By leveraging FNZ’s technology-driven solutions, these institutions enhance client engagement, improve efficiencies, and drive long-term success.

About UOB Kay Hian

UOB Kay Hian is a leading Financial Services firm with a strong presence across Asia, renowned for delivering personalized investment solutions. Headquartered in Singapore, UOB Kay Hian’s global footprint spans regional financial centres in Hong Kong, Thailand, Malaysia, Indonesia, London, New York and Toronto. 

One of Asia’s largest securities brokerage firms, UOB Kay Hian serves a prestigious client base of institutions, large corporations, high-net-worth individuals, and retail investors. The firm offers a wide range of services, including equities, derivatives, and wealth management solutions, to empower investors to make informed decisions and grow their wealth.

For more information, please visit www.utrade.com.sg and follow us on LinkedIn (@UOB Kay Hian).

About FNZ

FNZ is a leader in global, end-to-end wealth management platforms, partnering with over 650 of the world’s leading financial institutions and over 12,000 wealth management firms.

With 6,000+ employees in 30+ global locations, FNZ’s mission is to open up wealth, helping everyone, everywhere to invest in their future. FNZ removes friction from wealth management, freeing its partners to create hyper-personalized and differentiated experiences for their advisors and end-investors.

To date, FNZ administers more than US$1.7 trillion in client assets and enables over 24 million people, from all wealth segments, to invest in a simple and transparent way.

For more information, please visit www.FNZ.com and follow us on LinkedIn (@FNZ).

Contact:  Alasdair Munro, Alasdair.munro@fnz.com, +44 (0)7841456347

LG Display to Showcase World’s Best Solutions for Future Mobility at SID Display Week 2025

SEOUL, South Korea, May 6, 2025 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, announced today that it will participate in SID Display Week 2025, the world’s largest display exhibition, where it will showcase next-generation automotive displays.

LG Display’s stretchable automotive display
LG Display’s stretchable automotive display

SID Display Week draws together global display companies and researchers to present research papers on new technologies and exhibit medium- to long-term future technologies alongside new products. This year’s event is being held in San Jose, California, for three days from May 13 (local time).

LG Display plans to showcase the world’s best automotive displays optimized for future mobility under the theme “Driving the future.”

In line with the growing trend of larger and more numerous automotive displays amid the increasing importance of automotive infotainment systems, LG Display will introduce solutions that break boundaries in various aspects, including form, size, and picture quality.

With its Stretchable automotive display solution that can turn every interior space into a display, the company is presenting the potential for design innovation geared towards future mobility.

LG Display has maximized aesthetics and convenience by applying a Stretchable display to a vehicle’s center fascia area. The display can expand by up to 50% while maintaining a high resolution of 100 ppi (pixels per inch), comparable to that of a standard monitor, and full RGB color.

A conventional vehicle’s center fascia area requires a separate automotive display and physical buttons. With the application of a Stretchable display, however, the screen can freely expand, allowing the display and buttons to merge seamlessly into a single screen. When the screen is touched, the previously flat display flexibly expands and protrudes touch buttons, making it easy to operate even while driving.

The company will also showcase various world-leading form factor innovations, including a Pillar-to-Pillar product optimized for Software-Defined Vehicles (SDVs) and a Slidable OLED display that can be rolled up and hidden in a vehicle’s interior ceiling.

LG Display, which recently achieved the first commercialization of a 40-inch Pillar-to-Pillar display, will exhibit a 57-inch automotive Pillar-to-Pillar display, the largest in the world as a single panel.

It is an ultra-large solution that spans the dashboard from the driver’s seat to the front passenger’s seat. It allows the driver to view vehicle information such as driving data and the air conditioning system at a glance, while also enabling high-definition enjoyment of varied content like movies and games.

The 18-inch Slidable OLED display extends downward from the ceiling only when needed. With OLED’s distinctive three-dimensional image quality, it enables entertainment functions and provides a new mobility experience.

The Pillar-to-Pillar and Slidable product lines introduced this time have secured reliability and durability to ensure they operate normally even in extreme environments, from freezing cold as low as -40°C to the extreme heat of 85°C, making them suitable for automotive use.

With the trend of larger automotive displays, a key viewing angle control technology that enhances safety is being showcased, known as Switchable Privacy Mode (SPM).

As the first in the industry to commercialize SPM, LG Display’s innovation allows the front passenger to watch movies or play games on the area of the display in front of them, while driving safety is supported as the passenger’s entertainment content is kept invisible from the driver’s seat.

Having also become the world’s first to commercialize Tandem OLED for automotive displays in 2019, LG Display is strengthening its leadership in premium automotive displays based on its full lineup of related world-class technologies, including P-OLED, Advanced Thin OLED (ATO), and high-end LTPS LCD.

“At SID Display Week 2025, we will continue to showcase new technologies that can create differentiated customer value, solidifying our status as the global number one with the world’s best automotive displays,” said Keuk-sang Kwon, Head of Auto Business Group at LG Display.

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:

Joo Yeon Jennifer Ha, Manager, Communication Team
Email: hjy05@lgdisplay.com 

UOB Kay Hian and FNZ Launch Next-Generation Platform to Transform Unit Trust Investing in Singapore

  • UOB Kay Hian and FNZ have joined forces to launch a direct-to-consumer (D2C) platform, making Unit Trust investing simpler and more accessible for retail and private clients in Singapore.
  • The platform enhances the Unit Trust investment experience through an intuitive client portal, seamless order management, market-leading banking solutions, advanced reporting, and a dedicated client servicing module.
  • This launch reaffirms UOB Kay Hian and FNZ’s commitment to delivering cutting-edge, accessible investment tools and trading solutions that empower investors.
  • The partnership further strengthens UOB Kay Hian’s leadership in securities brokerage while reinforcing FNZ’s position as a trusted global wealth management platform, partnering with over 650 global financial institutions.

SINGAPORE, May 6, 2025 /PRNewswire/ — UOB Kay Hian, one of Asia’s largest securities brokerage firms, has partnered with FNZ, a global leader in wealth management technology, to launch a new digital platform that is set to transform Unit Trust investing in Singapore.

The innovative platform streamlines the investment journey, providing retail and private clients with a powerful and intuitive digital experience. Through advanced digital capabilities and seamless access via a direct-to-consumer (D2C) channel, investors can now navigate their Unit Trust investments with greater confidence and ease.

The newly launched platform offers a comprehensive suite of Unit Trust investment solutions, including customer servicing, an intuitive client portal, order management, cash management, Central Provident Fund (CPF) administration, and advanced reporting tools. By streamlining operations and enhancing client centricity, UOB Kay Hian simplifies Unit Trust investment, empowering all investors to grow their wealth more effectively.

“Partnering with FNZ has allowed us to develop a Unit Trust Platform that redefines the investment experience by combining innovative digital tools and intuitive investment solutions,” said Oh Whee Mian, Senior Executive Director, UOB Kay Hian. “Our collaboration with FNZ reflects our dedication to pair innovative technology with personalised services by our highly experienced Trading Representatives, to make investing more accessible and rewarding to our clients.”

FNZ’s commitment to the Asia-Pacific region is central to this partnership, bringing together its global technology expertise with deep local market knowledge to enhance wealth management solutions in Singapore. The company continues to invest in the region’s financial ecosystem, underscored by the recent appointment of Anthony Habis as Group Head of APAC, reinforcing FNZ’s long-term commitment to delivering transformative solutions for investors across the region.

“This partnership is a testament to FNZ’s dedication to delivering world-class digital wealth management solutions,” said Anthony Habis, Group Head of APAC. “By working closely with UOB Kay Hian, we have developed a platform that simplifies investing and enhances accessibility, ensuring clients enjoy a seamless and high-quality experience.”

The launch marks an important milestone in Singapore’s wealth management sector, as UOB Kay Hian and FNZ continue to drive digital transformation, equipping investors with the tools they need to navigate today’s markets with confidence.

UOB Kay Hian, headquartered in Singapore, is one of the region’s most prominent securities brokerage firms. With a strong reputation for excellence and a commitment to innovation, the firm continues to lead the way in delivering cutting-edge investment solutions for its clients.

FNZ has built long-standing, trusted partnerships with many of the region’s leading financial institutions, including Centrepoint Alliance, Colonial First State, Consilium, Jarden, National Australia Bank, Principal Asset Management, and UOB Asset Management. By leveraging FNZ’s technology-driven solutions, these institutions enhance client engagement, improve efficiencies, and drive long-term success.

About UOB Kay Hian

UOB Kay Hian is a leading Financial Services firm with a strong presence across Asia, renowned for delivering personalized investment solutions. Headquartered in Singapore, UOB Kay Hian’s global footprint spans regional financial centres in Hong Kong, Thailand, Malaysia, Indonesia, London, New York and Toronto. 

One of Asia’s largest securities brokerage firms, UOB Kay Hian serves a prestigious client base of institutions, large corporations, high-net-worth individuals, and retail investors. The firm offers a wide range of services, including equities, derivatives, and wealth management solutions, to empower investors to make informed decisions and grow their wealth.

For more information, please visit www.utrade.com.sg and follow us on LinkedIn (@UOB Kay Hian).

About FNZ

FNZ is a leader in global, end-to-end wealth management platforms, partnering with over 650 of the world’s leading financial institutions and over 12,000 wealth management firms.

With 6,000+ employees in 30+ global locations, FNZ’s mission is to open up wealth, helping everyone, everywhere to invest in their future. FNZ removes friction from wealth management, freeing its partners to create hyper-personalized and differentiated experiences for their advisors and end-investors.

To date, FNZ administers more than US$1.7 trillion in client assets and enables over 24 million people, from all wealth segments, to invest in a simple and transparent way.

For more information, please visit www.FNZ.com and follow us on LinkedIn (@FNZ).

Contact:  Alasdair Munro, Alasdair.munro@fnz.com, +44 (0)7841456347

Innovent Announces Oral Presentation of Full Phase 2 Clinical Data for Efdamrofusp Alfa (IBI302), First-in-class anti-VEGF/complement Bispecific Fusion Protein at ARVO 2025

SAN FRANCISCO and SUZHOU, China, May 6, 2025 /PRNewswire/ — Innovent Biologics, Inc. (“Innovent”) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of cancer, metabolic, autoimmune and other major diseases, announces that the latest 1-year results from its Phase 2 clinical trial of efdamrofusp alfa (R&D code: IBI302), a recombinant human vascular endothelial growth factor receptor (VEGFR)-antibody human complement receptor 1 (CR1) fusion protein, in Chinese subjects with neovascular age-related macular degeneration (nAMD) were presented orally at the 2025 Annual Meeting of the Association for Research in Vision and Ophthalmology (ARVO). The ARVO Annual Meeting 2025 is the premiere gathering of researchers and physicians in vision and ophthalmology to share the latest research findings and collaborate on innovative solutions, to be held from May 4 – 8 in Salt Lake City, Utah, U.S..

Title: Intravitreal High-dose Efdamrofusp Alfa (IBI302) in Patients with Neovascular Age-related Macular Degeneration: A Randomized, Double-masked, Active-controlled, Phase 2 Study
Presentation Number: 443
Presentation Format: Speech/Mini Oral
Presentation Time: May 4, 2:15pm-2:30pm
Presenter: Prof. Xiaodong Sun, Shanghai General Hospital Affiliated to Shanghai Jiao Tong University School of Medicine

The data were from the Phase 2 clinical study of high-dose IBI302 (NCT05403749) to evaluate the efficacy, safety and dosing intervals in patients with nAMD over a one-year treatment period. A total of 132 subjects were randomized 1: 1: 1 to IBI302 6.4 mg group, IBI302 8.0 mg group, or Aflibercept 2.0 mg group. After the loading therapy, IBI302 groups were administrated at personal treatment interval of Q12W or Q8W based on the disease activity assessed at Week 20. Subjects in Aflibercept 2.0 mg group were dosed Q8W after the loading therapy. The primary endpoint was the change in best corrected visual acuity (BCVA) in the study eye from baseline to week 40 and the study lasts 52 weeks. The results showed 6.4 mg/ 8.0 mg IBI302 competitive efficacy and safety profiles:

  • Potential for extended dosing interval regiment: Throughout the trial period, over 80% of participants in IBI302 groups maintained visual benefits with a 12-week dosing interval.
  • Comparable BCVA gains versus 2.0mg Aflibercept The trial met the primary endpoint, BCVA gains in 6.4mg/8.0mg IBI302 were noninferior to Aflibercept at week 40 the mean change from baseline +10.5[SD 9.6], +11.0[11.4], and +9.8[8.7] ETDRS letters, respectively. This improvement was sustained through week 52 with +10.8 [10.2], +11.3 [10.3], and +10.0 [9.0] letters compared to baseline.
  • Anatomical efficacy improvement versus 2.0mg Aflibercept: At week 52, the mean change of central subfield thickness (CST) reductions from baseline was 154.58 [149.17] μm for the IBI302 6.4 mg group, 174.69 [147.04] μm for the IBI302 8.0 mg group, and 131.18 [102.91] μm reduction for the Aflibercept 2.0 mg group, respectively.
  • Potential to inhibit macular atrophy: Data from pooled analyses of two Phase 2 clinical trials (CIBI302A201 and CIBI302A202) suggested that IBI302 treatment may reduce the incidence of MA at Week 52 by nearly 40% compared to aflibercept (4.9% in IBI302 groups vs. 8.3% in Aflibercept group) .
  • The incidences of adverse events in IBI302 groups were similar to Aflibercept. No retinal vasculitis occurred in this trial. No new safety signals were identified.

Professor Xiaodong Sun, Principal Investigator of the Study, Deputy director, Head of National Center for Clinical Ophthalmology, Shanghai General Hospital Affiliated to Shanghai Jiao Tong University School of Medicine, stated: “It is my privilege to present the latest research findings on IBI302 to the global ophthalmic community at the ARVO meeting as the principal investigator. While anti-VEGF drugs remain the first-line therapy for nAMD, the frequency of  intravitreal injections and follow-up visits can significantly impact patient compliance. Current drug development focuses on multi-target strategies and extended dosing intervals to reduce the treatment burden by decreasing injection frequency. Notably, IBI302—a novel global first-in-class bispecific molecule (anti-VEGF/anti-complement) —recently reported Phase 2 data showing that its high-dose cohorts met the primary endpoint. The treatment group achieved approximately 10-letters improvement in visual acuity from baseline at one year, with over 80% subjects demonstrating potential for at least 12-weeks extended dosing intervals. Additionally, preliminary observations in IBI302 group suggest potential efficacy in inhibition of macular atrophy. We anticipate this innovative therapy will successfully complete the Phase 3 registration trial, providing nAMD patients with more effective, patient-friendly options.”

Dr. Lei Qian, Senior Vice President of Clinical Development of Innovent, stated: “We are honored to present the latest progress of IBI302 in its second Phase 2 clinical trial at the ARVO annual meeting. High dose IBI302 demonstrates positive efficacy in visual acuity and anatomical improvements, while extend dosing intervals and potential anti-macular atrophy effects. Additionally, no new safety signals were observed during the trial, further validating the favorable safety and tolerability profile of this agent. These encouraging results establish a robust foundation for subsequent development. We will continue collaborating with clinical experts to expedite the Phase 3 clinical trial program, and accelerate the availability of this innovative therapy for patients with nAMD.”

About Efdamrofusp Alfa (IBI302)

IBI302 is a recombinant fully human bispecific fusion protein of Innovent Biologics with global proprietary rights. The N- terminal is a VEGF domain that can bind to the VEGF family, block VEGF-mediated signaling pathway, inhibit vascular epithelium proliferation and angiogenesis, and improve vasopermeability and reduce leakage. The C- terminal of IBI302 is the complement binding domain that can inhibit the activation of the classic pathway and alternative pathway of complement through the specific binding of C3b and C4b, and reduce the inflammatory response mediated by the complement. IBI302 may exert its therapeutic effect by inhibiting both VEGF-mediated angiogenesis and complement activation pathways.

About Innovent

Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 15 products in the market. It has 3 new drug applications under regulatory review, 4 assets in Phase III or pivotal clinical trials and 15 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Sanofi, Incyte, Adimab, LG Chem and MD Anderson Cancer Center.

Guided by the motto, “Start with Integrity, Succeed through Action,” Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

Statement:

1)Innovent does not recommend the use of any unapproved drug (s)/indication (s).

2)Ramucirumab (Cyramza®) and Selpercatinib (Retsevmo®) and Pirtobrutinib (Jaypirca®) were developed by Eli Lilly and Company.

Forward-looking statement

This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to Innovent Biologics (“Innovent”), are intended to identify certain of such forward-looking statements. The Company does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of the Company with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond the Company’s control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, the Company’s competitive environment and political, economic, legal and social conditions.

The Company, the Directors and the employees of the Company assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or is otherwise inaccurate.

Smart Digital Group Limited Announces Closing of Initial Public Offering

SINGAPORE, May 6, 2025 /PRNewswire/ – Smart Digital Group Limited (the “Company”) (Nasdaq: SDM), a digital marketing service provider in Singapore, today announced the closing of its initial public offering (the “Offering”) of 1,500,000 ordinary shares, par value $0.001 per share (“Ordinary Shares”), at a public offering price of US$4.00 per share.

The Company received aggregate gross proceeds of US$6.0 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company granted the underwriters a 45-day option to purchase up to an additional 225,000 Ordinary Shares at the public offering price, less underwriting discounts. The Ordinary Shares began trading on the Nasdaq Capital Market on May 2, 2025 under the ticker symbol “SDM.”

Proceeds from the Offering will be used for business expansion, brand promotion and marketing, software development, and for working capital and other general corporate purposes.

The Offering is being conducted on a firm commitment basis. US Tiger Securities, Inc. is acting as the sole book-runner for the Offering. Hunter Taubman Fischer & Li LLC is acting as counsel to the Company, and VCL Law LLP is acting as counsel to the underwriters in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the Securities and Exchange Commission (the “SEC”) (File Number: 333-283152) and was declared effective by the SEC on May 1, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from US Tiger Securities, Inc. by email at ECM@ustigersecurities.com, by calling +1 646-978-5188, or by standard mail to 437 Madison Avenue, 27th Floor, New York, New York 10022. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Smart Digital Group Limited

Smart Digital Group Limited is a digital marketing service provider headquartered in Singapore. The Company provides event planning and execution services, internet media services, software customization and marketing services and business planning and consulting services. For more information, visit the Company’s website at http://www.sdmmeta.com/.

Forward-Looking Statements

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Global First-in-Class AT2R Antagonist TRD205 Advances to Phase II: First Patient Dosed in Chronic Post-Surgical Neuropathic Pain Trial

BEIJING, May 6, 2025 /PRNewswire/ — Beijing Tide Pharmaceutical Co., Ltd., a subsidiary of Sino Biopharmaceutical Limited (1177.HK), has achieved a milestone in developing its first-in-class analgesic drug (research code: TRD205), a highly selective angiotensin II type 2 receptor (AT2R) antagonist, with the first patient successfully dosed. As the first globally innovative drug targeting chronic post-surgical neuropathic pain (CPSP) to enter Phase II clinical development, TRD205 is positioned to overcome the limitations of existing opioid therapies and provide a safer, more effective solution for hundreds of millions of patients worldwide.

Mechanistic Breakthrough: Pioneering Non-Opioid Analgesic Pathways via AT2R Targeting

CPSP affects approximately 10% of surgical patients globally, translating to over 30 million cases annually. Current treatments face significant constraints: opioids demonstrate efficacy in only 25% of patients while carrying risks of addiction and depression, whereas NSAIDs and antidepressants show limited efficacy against neuropathic pain. TRD205’s core innovation lies in its precise inhibition of AT2R, a receptor whose abnormal activation post-peripheral nerve injury triggers macrophages to release reactive oxygen/nitrogen species. This process exacerbates calcium influx in dorsal root ganglion (DRG) sensory neurons, amplifying pain sensitization. By selectively blocking this pathway, TRD205 suppresses pain signaling at its source without engaging the central nervous system, thereby avoiding opioid-related risks such as addiction and respiratory depression. The drug has secured clinical trial approvals from both the U.S. FDA and China’s NMPA, with Phase I trials in healthy Chinese volunteers confirming favorable safety and pharmacokinetic profiles.

Addressing the Urgent Unmet Need in CPSP: A Public Health Priority

CPSP defined as pain persisting for over three months following surgery, impacts approximately 10% of the 320 million annual surgical patients globally. It is particularly prevalent after procedures such as limb amputation (50%-85%), thoracotomy (30%-50%), breast surgery (25%-50%), and hernia repair (5%-35%), etc. Beyond physical suffering, CPSP is closely linked to anxiety, depression, and other symptoms. Existing therapies address less than 30% of clinical demand, highlighting the critical need for novel mechanisms like TRD205’s opioid-free approach. The Phase II study plans to enroll 184 patients with CPSP to evaluate pain score (NRS) improvements across dose groups over a six-week period.

Market Potential and Strategic Positioning in a $10 Billion Landscape

Global AT2R-targeted drug development remains nascent, with only a few competitors like Lilly-partnered CFTX-1554 (Phase I). TRD205’s approval would make it the first AT2R therapy for CPSP, with expansion potential into indications such as diabetic neuropathy and postherpetic neuralgia—a combined market exceeding $10 billion.

TRD205’s Phase II trial initiation marks a pivotal transition from opioid-dependent analgesia to precision targeting. Successful clinical validation would deliver a novel therapeutic paradigm for over hundreds of millions of patients globally.