Acacia Research Completes Board Reconstitution, Appointing Isaac T. Kohlberg and Luis Rinaldini to Board of Directors
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Newly Reconstituted Board, With Exemplary Credentials and Deep IP
Experience, Reflects Milestone Achievement in Improved Corporate
Governance
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Acacia Research Corporation (Nasdaq: ACTG) today announced it has
appointed Isaac T. Kohlberg, Senior Associate Provost and Chief
Technology Development Officer at Harvard University, and Luis
Rinaldini, CEO of Groton Partners and former Vice Chairman and Global
Head of Telecom Mergers & Acquisitions at Credit Suisse First Boston, to
its Board of Directors (“Board”). These appointments complete the
rebuilding of Acacia’s Board and bring its membership to six directors.
C. Allen Bradley, Jr., who joined the Board in 2018, is resigning from
the Board having successfully led the reconstitution and strengthening
of Acacia’s Board. Newly elected Chairman Maureen O’Connell said, “With
a full Board now in place, we expect to quickly build out the management
team.”
Acacia Director Clifford Press said, “With Isaac and Luis’ additions the
Acacia Board of Directors now has an exemplary range of experience and
expertise in IP-related disciplines, including developing royalty
agreements and other commercialization structures.”
“Isaac Kohlberg’s distinguished career, including serving as Chief
Technology Development Officer at Harvard University, and deep
experience in the patent space make him a superb addition to the Board,”
said Acacia Director Al Tobia. “Isaac has been at the cutting edge of
the intellectual property world for many years and he has consistently
devoted his efforts to ensuring that new inventions result in broad
societal benefits. We look forward to drawing on his expertise,
especially his focus on creating mutually beneficial royalty agreements,
as we work to develop new models for investing in IP as an asset class.”
“I look forward to partnering with Acacia on developing its approach to
investing in and commercializing IP assets,” said Kohlberg. “Through my
work at Harvard and in prior roles, I have focused on finding ways to
partner with companies to ensure that new inventions and discoveries
have the broadest possible benefit for society as a whole.”
“We are also thrilled to have Luis Rinaldini, former Vice Chairman of
Credit Suisse and a long-time Senior Managing Director of Lazard’s
Technology, Media and Telecom group, join Acacia’s Board,” continued
Tobia. “With his impressive career and deep experience in finance,
technology and healthcare, and a particular emphasis on pharmaceutical
royalties, we know Luis will be a valuable addition to the Board.”
“I am excited to be a part of this new chapter for Acacia as it expands
its approach to investing in and commercializing IP assets,” said
Rinaldini. “Through my work at Groton Partners and in prior roles, I
have focused on acquisitions, divestitures, joint ventures and financing
of companies that depend heavily on innovation and intellectual
property.”
Clifford Press continued, “Allen Bradley stepped into his Board role
under exigent circumstances and provided a steadying hand for Acacia.
With his help, we have recruited a new, highly experienced and deeply
relevant Board with exceptionally qualified, independent individuals. On
behalf of the Board I’d like to thank Allen for his invaluable role in
this urgent and critically important effort, and thank him for his wise
guidance and insight throughout.”
Isaac T. Kohlberg Biography
Mr. Kohlberg has had a distinguished career protecting and
commercializing IP for leading universities and research institutions.
He currently is a Senior Associate Provost and Chief Technology
Development Officer at Harvard University, where he responsible for the
strategic management and commercial development of all technologies and
intellectual property (IP) arising from Harvard’s research enterprise.
Mr. Kohlberg’s role at Harvard University includes industry liaising and
outreach, IP management, business development, technology
commercialization and the formation of startup companies and new
ventures around Harvard technology platforms. In tandem, he is also
responsible for generating, structuring, and negotiating research
alliances and collaborations with industry and generating
industry-sponsored research funding for Harvard faculty.
Prior to joining Harvard in 2005, Isaac Kohlberg was the CEO of Tel Aviv
University’s Economic Corporation and head of Ramot, its technology
transfer organization. Prior to his role at Ramot, Mr. Kohlberg held
various roles at New York University (NYU), including Vice Provost, Vice
President for Industrial Liaison (NYU’s technology transfer program) and
headed the Office of Science and Technology Administration at NYU School
of Medicine. During his time at NYU, the institution entered into a
major licensing agreement to develop Remicade, a humanized monoclonal
antibody used in the treatment of Crohn’s Disease and other autoimmune
diseases, which led to one of the largest royalty revenue streams
generated by any university worldwide.
Before NYU, Mr. Kohlberg was the CEO of YEDA, the commercial arm of the
Weizmann Institute of Science in Israel. While at YEDA, Kohlberg
negotiated and concluded major royalty-bearing license agreements. Mr.
Kohlberg has served as a Director at Anchiano Therapeutics Ltd (TLV:
ANCN, NASDAQ: ANCN), a pivotal-stage biopharmaceutical company, since
2017 and as a Director at Clal Biotechnology Industries Ltd. (TLV: CBI),
a life sciences investment company, since 2015. Mr. Kohlberg received
his M.B.A. from INSEAD and LL.B. from Tel Aviv University.
Luis Rinaldini Biography
Luis E. Rinaldini has been CEO of Groton Partners since he founded the
firm in 2003. At Groton Partners, Mr. Rinaldini has advised Royalty
Pharma in over $1.5 billion of recapitalization transactions and
numerous royalty acquisitions. From 2001 to 2002, he was Vice Chairman
and Global Head of Telecom Mergers & Acquisitions at Credit Suisse First
Boston, based in London.
Mr. Rinaldini joined Credit Suisse First Boston from Lazard Frères,
where he served on the Executive Committee and was the Senior Managing
Director in charge of Telecom, within the Media, Technology and Telecom
Group as well as the firm’s Latin American practice.
ABOUT ACACIA RESEARCH CORPORATION
Founded in 1993, Acacia Research Corporation (NASDAQ:ACTG) is an
industry leader in patent licensing and partners with inventors and
patent owners to unlock the financial value in their patented
inventions. Acacia bridges the gap between invention and application,
facilitating efficiency and delivering monetary rewards to the patent
owner.
Information about Acacia and its subsidiaries is available at www.acaciaresearch.com.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
This news release contains forward-looking statements within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based upon our
current expectations and speak only as of the date hereof. Our actual
results may differ materially and adversely from those expressed in any
forward-looking statements as a result of various factors and
uncertainties, including the contributions of newly appointed director,
the appointment of additional directors, the ability to successfully
develop licensing programs and attract new business, rapid technological
change in relevant markets, changes in demand for current
and future intellectual property rights, legislative, regulatory and
competitive developments addressing licensing and enforcement of patents
and/or intellectual property in general, general economic conditions and
the success of our investments. Our Annual Report on Form
10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent
Current Reports on Form 8-K, and any amendments to the forgoing, and
other SEC filings discuss some of the important risk factors that may
affect our business, results of operations and financial condition. We
undertake no obligation to revise or update publicly any forward-looking
statements for any reason. The results achieved in the most recent
quarter are not necessarily indicative of the results to be achieved by
us in any subsequent quarters, as it is currently anticipated that
Acacia Research Corporation’s financial results will vary, and may vary
significantly, from quarter to quarter. This variance is
expected to result from a number of factors, including risk factors
affecting our results of operations and financial condition referenced
above, and the particular structure of our licensing transactions, which
may impact the amount of inventor royalties and contingent legal
fees expenses we incur period to period.
Contacts
Investors:
Hayden IR
Rob Fink, 646-415-8972
[email protected]
Media:
Sloane & Company
Joe Germani / Kristen
Duarte, 212-486-9500
[email protected]
/ [email protected]
Indivior
Indivior Provides Update on Aelis Farma’s Clinical Phase 2B Study Results with AEF0117 in Participants with Cannabis Use Disorder
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS IT FORMS PART OF DOMESTIC LAW IN THE UK BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).
- Primary and Secondary End Points of the Study were Not Met
- Indivior Does Not Currently Expect to Exercise AEF0117 Option
SLOUGH, United Kingdom and RICHMOND, Va., Sept. 4, 2024 /PRNewswire/ — Indivior PLC (Nasdaq/LSE: INDV) is today providing an update following Aelis Farma’s announcement of the results from its clinical Phase 2B trial with AEF01171, evaluating the efficacy and safety in treatment-seeking participants with moderate to severe Cannabis Use Disorder (CUD). The purpose of this trial was twofold: (1) to show that AEF0117 (0.1, 0.3, 1 mg once a day for 12 weeks) lowers cannabis use and (2) to determine the endpoints and optimal dosage of AEF0117 for use in future studies. In this phase 2B study, patients were treatment-seeking participants, 84% of whom had severe CUD.
The results of the study demonstrated that the primary endpoint, the proportion of participants who reduced their cannabis use to ≤1 day per week, as well as secondary endpoints measuring the proportion of participants reaching either complete abstinence or who used ≤2 day per week, were not met. Although these results are disappointing, they indicate that significant work remains to be done to understand subpopulations of patients with CUD, specifically those with severe CUD.
This clinical Phase 2B study is part of the strategic collaboration between Aelis Farma and Indivior, which includes an exclusive option for Indivior to license the global rights to AEF0117. Given the lack of separation from placebo on primary and secondary endpoints and before seeing further additional favorable clinical data, Indivior does not currently expect to exercise its option.
Important Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding whether: we will be able to ultimately demonstrate the safety and efficacy of AEF0117, which is a prerequisite to filing any New Drug Application; we might ever exercise our option for AEF0117 and, if so, when; and other statements containing the words “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “forecast,” “strategy,” “target,” “guidance,” “outlook,” “potential,” “project,” “priority,” “may,” “will,” “should,” “would,” “could,” “can,” “outlook,” “guidance,” the negatives thereof, and variations thereon and similar expressions. By their nature, forward-looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future.
Actual results may differ materially from those because they relate to future events. Various factors may cause differences between Indivior’s expectations and actual results, including, among others, the risks described in our most recent annual report on Form 20-F beginning on page 9 as filed with the U.S. SEC and in subsequent releases; legal and market restrictions that may limit how quickly we can repurchaser our shares; the substantial litigation and ongoing investigations to which we are or may become a party; our reliance on third parties to manufacture commercial supplies of most of our products, conduct our clinical trials and at times to collaborate on products in our pipeline; our ability to comply with legal and regulatory settlements, healthcare laws and regulations, requirements imposed by regulatory agencies and payment and reporting obligations under government pricing programs; risks related to the manufacture and distribution of our products, most of which contain controlled substances; market acceptance of our products as well as our ability to commercialize our products and compete with other market participants; competition; the uncertainties related to the development of new products, including through acquisitions, and the related regulatory approval process; our dependence on third-party payors for the reimbursement of our products and the increasing focus on pricing and competition in our industry; unintended side effects caused by the clinical study or commercial use of our products; our ability to successfully execute acquisitions, partnerships, joint ventures, dispositions or other strategic acquisitions; our ability to protect our intellectual property rights and the substantial cost of litigation or other proceedings related to intellectual property rights; the risks related to product liability claims or product recalls; the significant amount of laws and regulations that we are subject to, including due to the international nature of our business; macroeconomic trends and other global developments such as armed conflicts and pandemics; the terms of our debt instruments, changes in our credit ratings and our ability to service our indebtedness and other obligations as they come due; changes in applicable tax rate or tax rules, regulations or interpretations and our ability to realize our deferred tax assets; and volatility in our share price due to factors unrelated to our operating performance or that may result from the potential move of our primary listing to the U.S.
Forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrences of unanticipated events.
This release is being made by Kathryn Hudson, Company Secretary Indivior PLC.
About Indivior
Indivior is a global pharmaceutical company working to help change patients’ lives by developing medicines to treat substance use disorders (SUD), overdose and serious mental illnesses. Our vision is that all patients around the world will have access to evidence-based treatment for the chronic conditions and co-occurring disorders of SUD. Indivior is dedicated to transforming SUD from a global human crisis to a recognized and treated chronic disease.
Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to both expand on its heritage in this category and potentially address other chronic conditions and co-occurring disorders of SUD. Headquartered in the United States in Richmond, VA, Indivior employs over 1,000 individuals globally and its portfolio of products is available in over 30 countries worldwide. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/company/indivior.
References:
- National Library of Medicine (U.S.) (2022, April). Effect of AEF0117 on treatment-seeking patients with cannabis use disorder (CUD) (SICA2). Identifier
NCT05322941 https://www.clinicaltrials.gov/study/NCT05322941
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HERZLIYA, Israel and CALGARY, Alberta, Aug. 29, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce that it has completed its previously announced non-brokered private placement offering of 5,025,725 units of the Company (the “Units”) at a price of C$0.22 per Unit for gross proceeds of C$1,105,659.50 (the “Offering”).
Each Unit is comprised of: (i) one (1) common share in the capital of the Company (each a “Common Share”); and (ii) one (1) common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$0.32 for a period of four (4) years from the date of issuance.
Innocan intends to use the proceeds of the Offering for working capital and general corporate purposes.
The securities issued to Canadian subscribers in connection with the Offering are subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.
Iris Bincovich, Chief Executive Officer of the Company, stated “we are very pleased with our successful offering. I would like to extend my sincere gratitude to our investors for their unwavering support. We see this as a strong vote of confidence by both existing and new investors which demonstrates investor support of our vision and strategic direction. These new funds will provide us with additional working capital to enable us to capitalize on new opportunities and allow us to advance strongly on our growth plans.”
The Company is also pleased to announce that it has granted an aggregate of 300,000 stock options (each an “Option“) to certain consultants of the Company pursuant to the Company’s stock option plan (the “Plan“). Each Option may be exercised for one (1) common share in the capital of the Company (each, a “Share“) at a price of $0.25 per Share. The Options expire on August 27, 2029.
All Options granted vest in accordance with the following vesting schedule: (i) 1/3rd of the Options vested immediately at grant; (ii) 1/3rd of the Options will vest on February 28, 2025; and (iii) 1/3rd will vest on August 27, 2025; all subject to the terms and conditions of the Plan.
About Innocan Pharma:
Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/
Contact Information:
For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025
+972-54-3012842
+442037699377
[email protected]
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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View original content:https://www.prnewswire.co.uk/news-releases/innocan-pharma-announces-closing-of-private-placement-and-grant-of-stock-options-302234455.html
Cannabis
Europe Medical Cannabis Market Forecast 2024-2032: Tilray, Aurora Cannabis, and GW Pharmaceuticals Dominate the Market Landscape
Dublin, Aug. 29, 2024 (GLOBE NEWSWIRE) — The “Europe Medical Cannabis Oil Market Size, Industry Dynamics, Opportunity Analysis and Forecast 2024-2032.” report has been added to ResearchAndMarkets.com’s offering.
The Europe Medical Cannabis Oil market is poised for significant growth, projected to escalate from US$ 0.91 billion in 2023 to US$ 2.40 billion by 2032, advancing at a CAGR of 12.08%. In this comprehensive research report, the market is analyzed by:
- Derivatives;
- Source;
- Application;
- Route of Administration;
- End-user;
- Distribution Channel; and
- Country.
Market Highlights Identified in the Report
- Progressive legalization across Europe is creating a favorable regulatory environment, enhancing market expansion for medical cannabis oil products.
- Germany leads the market with a robust infrastructure and supportive regulations, while other countries like the UK, Italy, and Spain show significant growth potential based on evolving regulatory landscapes and market dynamics.
- Key players such as Tilray, Aurora Cannabis Inc., and GW Pharmaceuticals dominate the market, emphasizing research, strategic partnerships, and innovation to maintain competitive edge amidst evolving industry dynamics.
The medical cannabis oil market has experienced substantial growth as legalization and acceptance of cannabis-based treatments expand globally. Cannabis oil, derived from the cannabis plant through extraction methods, contains cannabinoids such as THC and CBD, known for their therapeutic properties. Increasing recognition of cannabis oil’s potential in alleviating symptoms of various medical conditions, including chronic pain, epilepsy, and anxiety disorders, has driven its adoption in medical settings.
Governments in several countries are progressively legalizing medical cannabis, creating a conducive regulatory environment for market expansion. Additionally, growing consumer awareness about alternative and natural therapies has fueled the demand for cannabis oil products. The market is characterized by diverse product offerings, including full-spectrum and CBD-isolate oils, catering to different therapeutic needs and preferences.
Despite regulatory challenges and stigma associated with cannabis, the medical cannabis oil market continues to evolve, driven by ongoing research, favorable legislative changes, and shifting attitudes toward cannabis-based therapies in healthcare.
Regional Insights
Germany is likely to maintain its leadership position in the European medical cannabis oil market due to its established infrastructure, supportive regulations, and strong healthcare system. Germany legalized medical cannabis in 2017, giving the market a head start compared to many other European countries. This established infrastructure and experience position Germany as a leader in the field. As awareness and acceptance of medical cannabis increase, the number of patients seeking treatment in Germany is steadily rising. This fuels market growth and incentivizes further investment in research and development.
Germany’s regulatory framework for medical cannabis is considered relatively patient-friendly compared to some other European countries. This facilitates access for patients with qualifying conditions. The UK legalized medical cannabis in 2018 and is experiencing an increase in patient access programs. This, coupled with ongoing research, could lead to significant market growth. Italy legalized medical cannabis in 2006 but has faced challenges with availability. As regulations become more streamlined and patient access expands, the Italian market holds significant growth potential. Spain has a well-established medical cannabis industry with a focus on domestic production. As regulations evolve and export opportunities increase, the Spanish market could see a boost.
Competitive Landscape
The Medical Cannabis Oil market is characterized by a vigorous competitive landscape, with prominent entities like Tilray, Aurora Cannabis Inc., GW Pharmaceuticals, Almiral, Bedrocan, and others at the forefront, collectively accounting for approximately 41 % of the overall market share. This competitive milieu is fueled by their intensive efforts in research and development as well as strategic partnerships and collaborations, underscoring their commitment to solidifying market presence and diversifying their offerings.
The primary competitive factors include pricing, product caliber, and technological innovation. As the Medical Cannabis Oil industry continues to expand, the competitive fervor among these key players is anticipated to intensify. The impetus for ongoing innovation and alignment with evolving customer preferences and stringent regulations is high. The industry’s fluidity anticipates an uptick in novel innovations and strategic growth tactics from these leading corporations, which in turn propels the sector’s comprehensive growth and transformation.
Key Topics Covered
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Europe Medical Cannabis Oil Market
Chapter 4. Europe Medical Cannabis Oil Market Overview
Chapter 5. Europe Medical Cannabis Oil Market Analysis, by Derivatives
Chapter 6. Europe Medical Cannabis Oil Market Analysis, by Source
Chapter 7. Europe Medical Cannabis Oil Market Analysis, by Application
Chapter 8. Europe Medical Cannabis Oil Market Analysis, by Route of Administration
Chapter 9. Europe Medical Cannabis Oil Market Analysis, by End-user
Chapter 10. Europe Medical Cannabis Oil Market Analysis, by Distribution Channel
Chapter 11. Europe Medical Cannabis Oil Market Analysis, by Country
Chapter 12. The UK Medical Cannabis Oil Market Analysis
Chapter 13. Germany Medical Cannabis Oil Market Analysis
Chapter 14. The Netherlands Medical Cannabis Oil Market Analysis
Chapter 15. Italy Medical Cannabis Oil Market Analysis
Chapter 16. Spain Medical Cannabis Oil Market Analysis
Chapter 17. Poland Medical Cannabis Oil Market Analysis
Chapter 18. Rest of Europe Medical Cannabis Oil Market Analysis
Chapter 19. Company Profiles (Company Overview, Financial Matrix, Key Product Landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
A selection of companies mentioned in this report includes, but is not limited to:
- Aurora Cannabis Inc.
- Bedrocan
- Biocann
- BIOTA Biosciences LLC
- Cannamedical
- Mary Jane CBD
- Sanity Group GmbH
- Tilray
- Valcon Medical
For more information about this report visit https://www.researchandmarkets.com/r/dh7q46
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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