New Morgan Stanley GIFT Cures℠ Program to Advance Drug Discovery Research into Life-Saving and Life-Enhancing Cures and Treatments
Morgan Stanley GIFT Cures is a philanthropic collaboration with
Harrington Discovery Institute
NEW YORK–(BUSINESS WIRE)–Morgan Stanley today announced the launch of Morgan Stanley GIFT Cures℠
powered by Harrington Discovery Institute, the first special
interest program of The Morgan Stanley Global Impact Funding Trust
(Morgan Stanley GIFT) that is dedicated to advancing the development of
research discoveries into new cures and treatments for a broad range of
diseases. The launch was announced at The Exchange 2019 in New York, a
two-day conference, June 4-5, hosted by Morgan Stanley and Social Impact
Exchange.
“We are excited to join forces with Harrington Discovery Institute,”
said Mandell Crawley, Head of Morgan Stanley Private Wealth Management.
“Sadly, there are far too many families around the world that are
impacted by a disease that has no cure or meaningful treatment,
including many of the most common diseases affecting our society. The
Morgan Stanley GIFT Cures program was formed to address unmet medical
need by helping to create new medicines.”
Through a competitive application process, Harrington Discovery
Institute sources the most promising research from leading academic
institutions across the U.S., Canada and the UK that target novel
therapeutic approaches in any disease area. The combination of
Harrington Discovery Institute and Morgan Stanley GIFT Cures will help
provide the catalytic capital, expertise and management needed to
connect strategic philanthropists to drug discovery projects and medical
breakthroughs with the greatest potential for near-term impact.
“With nearly two decades of experience working with the Firm’s most
dedicated philanthropists, Morgan Stanley GIFT recognized that medical
philanthropy wasn’t moving the needle for patients and families with
diseases despite the generosity of donors around the world,” said
Melanie Schnoll Begun, Head of Philanthropy Management. “We are pleased
to collaborate with Harrington Discovery Institute to launch Morgan
Stanley GIFT Cures, an innovative special interest program Morgan
Stanley GIFT created in response to client demands for more concrete
results from their philanthropy in the search for cures.”
“Hundreds of millions of people suffer from diseases where cures are not
available, yet the knowledge to develop effective treatments actually
exists,” explains Dr. Jonathan Stamler, President of Harrington
Discovery Institute. “Breakthrough discoveries remain on the shelves of
research institutions because the physicians and scientists making
discoveries lack the drug development expertise needed to translate
their scientific discoveries into new medicines.”
Harrington Discovery Institute was established in 2012 with a $50
million gift from the Harrington Family, medical supply entrepreneurs.
The Institute was founded to create a new system for developing
breakthrough discoveries into medicines, primarily in answer to two
challenges: Why so many promising medical breakthroughs fail to yield
life-enhancing and life-saving new drugs, and where financial and other
resources should be invested to improve and accelerate success.
Seven years later, Harrington Discovery Institute has become the center
of a rapidly growing global initiative to advance the most promising new
therapies through the drug development pipeline.
“We are pleased to collaborate with Morgan Stanley GIFT to grow the
community of philanthropists who are committed to supporting the
development of new medicines. From the start, we knew that strategic
partnerships like this would be instrumental in helping expand
Harrington Discovery Institute’s portfolio of drugs-in-the-making and
increase its impact on human health,” said Ronald Harrington.
The Morgan Stanley GIFT Cures program provides opportunities for
philanthropists to augment the impact of their medically-related giving,
whether they wish to focus on a specific disease or across a broader
spectrum. It is also an opportunity to become part of a donor community
committed to creating the next generation of breakthrough medicines,
including learning best practices in bringing breakthrough therapies to
market and in healthcare giving more broadly.
At launch, the Morgan Stanley GIFT Cures program is funding multiple
programs to advance treatment for:
- Alzheimer’s & Other Neurologic Diseases
- Cancers
- Heart failure and Other Cardiovascular Diseases
- Blindness
- Bone and Joint Diseases
- Diabetes
- Gastrointestinal Diseases
- All Infectious Diseases
- All Rare Diseases
- Asthma and Respiratory Diseases
- Immune and other Disorders
Morgan Stanley GIFT is an independent 501(c)(3) organization that
provides the Firm’s clients access to a donor advised fund, supporting
organizations, other planned giving strategies, client events and
experiences. Established in 2000; total grants to charities have reached
over $1.7 billion since inception. All funds donated to Morgan Stanley
GIFT Cures will be managed within the Morgan Stanley GIFT donor advised
fund to advance Harrington Discovery Institute’s mission of advancing
breakthrough scientific discoveries throughout the U.S. and the UK into
cures.
Morgan Stanley Wealth Management, a global leader, provides access to a
wide range of products and services to individuals, businesses and
institutions, including brokerage and investment advisory services,
financial and wealth planning, cash management and lending products and
services, annuities and insurance, retirement and trust services.
Morgan Stanley (NYSE: MS) is a leading global financial services firm
providing investment banking, securities, wealth management and
investment management services. With offices in more than 41 countries,
the Firm’s employees serve clients worldwide including corporations,
governments, institutions and individuals. For more information about
Morgan Stanley, please visit www.morganstanley.com.
The Harrington Discovery Institute at University Hospitals in Cleveland,
OH – part of The Harrington Project for Discovery & Development – aims
to advance medicine and society by enabling our nation’s most inventive
scientists to turn their discoveries into medicines that improve human
health. The institute was created in 2012 with a $50 million founding
gift from the Harrington family and instantiates the commitment they
share with University Hospitals to a Vision for a ‘Better World’. For
more information, visit www.harringtondiscovery.org.
©2019 Morgan Stanley Smith Barney LLC. Member SIPC
CRC 2559978 6/2019
Disclosures: This material is for informational purposes only. The
information and data herein are believed to be reliable; however, their
accuracy and completeness is not guaranteed by Morgan Stanley Smith
Barney LLC (“Morgan Stanley”) and providing you with this information is
not to be considered a solicitation on our part with respect to the
purchase or sale of any securities, investments, strategies or products
that may be mentioned. In addition, the information and data referenced
is as of the date of the material and subject to change without notice.
Past performance is not a guarantee of future results.
Morgan Stanley, its affiliates and Morgan Stanley Financial Advisors and
Private Wealth Advisors do not provide tax or legal advice. Clients
should consult their tax advisor for matters involving taxation and tax
planning and their attorney for matters involving trust and estate
planning, charitable giving, philanthropic planning and other legal
matters.
University Hospital of Cleveland, OH is a client of Morgan Stanley. It
is not known whether the client approves of Morgan Stanley or the
advisory services provided. Nothing in this material is intended to
imply any other affiliation, sponsorship, endorsement, approval,
investigation, verification or monitoring of the Harrington Discovery
Institute, University Hospital of Cleveland, OH or any other entity
referenced in this material.
The Morgan Stanley Global Impact Funding Trust, Inc. (“Morgan Stanley
GIFT, Inc.”) is an organization described in Section 501(c)(3) of the
Internal Revenue Code of 1986, as amended. MS Global Impact Funding
Trust (“Morgan Stanley GIFT”) is a donor-advised fund. Morgan Stanley
provides investment management services to Morgan Stanley GIFT.
While we believe that Morgan Stanley GIFT Cures provides a valuable
philanthropic opportunity, contributions to Morgan Stanley GIFT Cures
are not appropriate for everyone. Other forms of charitable giving may
be more appropriate depending on a donor’s specific situation. Of
critical importance to any person considering making a donation to
Morgan Stanley GIFT is the fact that any such donation is an irrevocable
contribution.
Back office administration provided by RenPSG, an unaffiliated
charitable gift administrator.
Contacts
Media Relations: Christine Jockle, 914.225.6827, [email protected]
TORONTO and GLIL YAM, Israel, Sept. 11, 2024 /PRNewswire/ — IM Cannabis Corp. (“IMC” or the “Company“) (NASDAQ: IMCC) (CSE: IMCC), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that Mr. Shmulik Arbel has been appointed to the Company’s board of directors (the “Board“) effective September 9, 2024. Mr. Arbel brings a wealth of experience in strategic plans that drive profitability, as well as, finance and corporate governance, further strengthening the company’s commitment to driving growth while focusing on sustainable profitability.
“We are thrilled to welcome Shmulik to our Board of Directors,” said Oren Shuster, Chief Executive Officer of IM Cannabis. “Shmulik’s extensive international experience at Leumi, coupled with his proven track record in banking and finance will be invaluable as we continue to deliver on our strategic initiatives.”
Mr. Arbel retired as Deputy CEO from Leumi, Israel’s largest banking group, in April 2023, where he was instrumental in business growth and leading the service revolution. With over 25 years of experience at Leumi, Arbel has held senior roles throughout the organization, such as head of retail banking, head of the corporate division, and as chairman of Leumi UK. With key roles in Israel, New York and London, Mr. Arbel has a wide view on international business.
“I am honored to join the Board of Directors at IMCC,” said Mr. Arbel. “I look forward to leveraging my experience in banking and finance, providing guidance as IMCC continues to establish itself as the go-to brand in the cannabis world. I look forward to contributing to the company’s growth.”
Arbel holds a BA and MBA from Tel Aviv University.
About IM Cannabis Corp.
IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has focused its resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.
The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.
Disclaimer for Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian and United States securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to: the stated benefits Mr. Arbel’s appointment, including the further strengthening the Company’s commitment to driving growth in the German market while focusing on sustainable profitability; and Mr. Arbel’s international experience and track record in banking and finance will be invaluable to the Company.
Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance becoming invaluable to the Company.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and its subsidiaries (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt; risks surrounding war, conflict and civil unrest in Eastern Europe and the Middle East, including the impact of the Israel-Hamas war on the Company, its operations and the medical cannabis industry in Israel; risks associated with the Company focusing on the Israel and Germany markets; the inability of the Company to achieve sustainable profitability and/or increase shareholder value; the inability of the Company to actively manage costs and/or improve margins; the inability of the company to grow and/or maintain sales; the inability of the Company to meet its goals and/or strategic plans; the inability of the Company to reduce costs and/or maintain revenues; the Company’s inability to take advantage of the legalization of medicinal cannabis in Germany; and the Company’s inability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance not becoming valuable to the Company.
Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and Edgar at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Company Contact:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]
Oren Shuster, CEO
IM Cannabis Corp.
[email protected]
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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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