Report Shows Visa Certifications Hitting a New High in 2023 But a Decline is Likely With U.S. Immigration Limits
In a report published today, CGFNS International revealed that in 2023, it issued its highest-ever number of occupational visa certifications to nurses and other skilled health workers seeking to migrate to the U.S., where health systems confront a staffing crisis.
CGFNS 2023 Nurse Migration Report
The company, a non-profit that verifies credentials for immigration authorities and state licensing boards, said it issued nearly 27,000 of its VisaScreen® certificates during the government fiscal year that ended in October. That is more than twice the number of certificates CGFNS issued the previous year.
The increase continues a six-year upward trend, during which the annual number of VisaScreen® certificates has quadrupled. Over this time, U.S. health systems have increasingly scrambled to fill staff vacancies amid a longstanding nursing shortage that was aggravated by pandemic-era challenges and is projected to worsen through the end of the decade.
In the report, CGFNS stated that higher levels of nurse immigration in recent years are likely to have peaked, even as the nursing shortage widens. This is because, barring intervention, U.S. visa availability is declining to pre-pandemic levels.
Data in the report were derived from applicant information submitted to the VisaScreen® Service and the CGFNS Credentials Evaluation Service, two leading pathways through which foreign-educated nurses and other healthcare professionals can migrate to and work in the U.S.
Other key findings in the report:
The Philippines continues to be by far the largest source of immigrant nurses for the U.S., accounting for more than 60% of the total VisaScreen® certificates issued by CGFNS.
In 2023, the vast majority (85%) of certificates were issued to registered nurses (RNs), with another 14% issued to clinical laboratory scientists.
More than three-quarters (78%) of those applying for certificates were seeking permanent green cards, up from 64% in 2018 and up nine percentage points in just the past year, showing a strong trend toward permanent migration among nurses.
“Recruitment of nurses from outside the U.S. by using best practices has been critical to helping U.S. health systems cope with extraordinary staffing challenges and to ensure patient safety. With many thousands of qualified foreign-trained nurses willing and waiting to migrate to meet this present need, now is not the time to further restrict their numbers, especially when nurses want to come to the U.S. to advance their careers,” said Peter Preziosi, President and CEO of CGFNS.
ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced its financial results for the 12 months ended 30 September 2023 (“FY2023”).
The Group’s revenue for FY2023 saw a 12% increase to S$69.5 million, a historical high for the Group, primarily attributed to the Engineering, Procurement and Construction (“EPC”) segment’s strong performance. Gross profit increased by 19% from S$9.8 million for FY2022 to S$11.7 million for FY2023, while gross profit margins improved from 15.7% for FY2022 to 16.8% in FY2023.
The Group’s continuing operations comprising of its specialist EPC and maintenance segments recorded a profit of S$2.2 million on the back of a 10.8% growth in revenue from S$62.3 million for FY2022 to S$69.0 million for FY2023. However, the operating environment remains challenging amidst increased operational costs in energy, labour, and materials as a result of inflationary pressures in the global economy.
In May 2023, the Group ventured into the co-working laboratory space segment through the acquisition of Life Science Incubator Pte Ltd (“LSI”), which currently manages a 6,500 sqft co-working laboratory space at The German Centre, Singapore. Under the Group’s leadership, LSI has made significant inroads with new partnerships across Singapore, Australia, and China for new co-working laboratory space projects, reflecting the Group’s continued efforts to broaden its revenue stream and capture new regional opportunities.
Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said,
“We will continue our current focus on expanding the laboratory construction and co-working laboratory space businesses, both of which are currently cash flow positive with promising long-term prospects amidst an encouraging flow of business opportunities and projects in the last twelve months.”
The Group’s co-working laboratory space segment contributed positively to AcroMeta’s FY2023 results and will be developed as a new engine of growth for the Group’s business moving forward.
While the Group’s continuing operations delivered a profit of S$2.2 million, the Group reported a net loss attributable to owners of S$7.5 million in FY2023 due to the one-off impairment and provisions. Excluding these, the net profit would be S$2.3 million compared to FY2022 net profit of S$2.9 million.
The one-off impairment and provisions relating to discontinuing operations related to renewable energy business are based on historical expenditure and have minimal impact on the Group’s ongoing cashflow. The Group’s net asset value remains positive at S$2.6 million or 0.93 cents per share as at 30 September 2023 while the Group’s cash and cash equivalents are stable at S$4.4 million as at 30 September 2023 as compared to S$4.1 million as at 30 September 2022. The proposed subscription of 12,500,000 shares in the capital of the Company for S$0.5 million, announced in November 2023, is expected to further strengthen the Group’s financial resources.
While renewable energy business is fundamentally promising, the Covid-19 pandemic’s impact on construction as well as regulatory changes meant that the project would continue to require financial support and affect the Group’s allocation of resources. The Group’s prudent step to place Neo Tiew Power Pte. Ltd. (“NTP”), a loss-making indirect subsidiary, under Creditors’ Voluntary Winding Up will enable optimal allocation of resources as the Group continues to progress forward with its specialist engineering and co-working laboratory space business.
This press release should be read in conjunction with the financial statements released by AcroMeta Group Limited today.
About ACROMETA Group Limited (SGX Stock Code:43F)
ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.
The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities, and cleanrooms.
ACROMETA’s business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.
The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA’s customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.
The Company has been listed on the Catalist Board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.
Media and Analysts Contact:
ACROMETA Group Limited Ms. Cheah Lai Min Chief Financial Officer Tel: +65 6415 0574 Email: laimin.cheah@acrometa.com
This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.
New strategic partnership reflects continued efforts to explore international expansion opportunities for the Group’s scalable and replicable co-working laboratory space business.
ACROMETA Group Limited (ACROMETA, or the Company and together with its subsidiaries, the Group), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced that its 70% owned subsidiary Life Science Incubator Holdings Pte Ltd (LSI) has entered into a strategic partnership with Fenglin Healthcare Industry Development (Group) Co. Ltd. (Fenglin Group) through a non-binding Memorandum of Understanding (Fenglin MOU) to develop new business opportunities for co-working laboratory space in the People’s Republic of China.
(Front L-R) Fenglin Group Deputy General Manager Mr Pan Taishen and AcroMeta Chairman Mr Levin Lee Keng Weng at the signing ceremony in Shanghai.
China-incorporated Fenglin Group, the administrative arm of the Shanghai Xuhui government in charge of Life Sciences, aims to establish an integrated ecosystem of local and international stakeholders in Shanghai’s Xuhui District to accelerate biopharmaceutical innovation and development.
Fenglin Group will promote the co-working laboratory space with a focus on overseas biomedical science startups and SMEs planning to develop their business in China. On its part, LSI will use its existing business networks to recommend to Fenglin Group, Singapore and other overseas biomedical sciences companies that intend to have a business foothold in China and need co-working laboratory space. An area of approximately 2,705 sqm is set to be leased by LSI at preferential rates to set up world-class co-working laboratory space at Fenglin Group’s Innovation Valley Life Sciences Hub to provide a cost-effective venue with comprehensive laboratory facilities and equipment for research and development.
Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said,
“AcroMeta will continue to capture business opportunities both in Singapore and beyond to grow and create sustainable shareholder value for its investors. The business model for the Group’s co-working laboratory space business is scalable and replicable and therefore eminently suitable for international expansion.”
“China’s biopharmaceutical industry has undergone a tremendous transformation to become a thriving innovative life sciences hub driven by investments in research and development. The sector is a key focus of the Chinese government’s Made in China 2025 strategy, and we are optimistic about LSI’s long-term growth potential in collaboration with local partners.”
LSI has also signed a non-binding Memorandum of Understanding (“JV MOU”) with three investor parties (“Investor Parties”) for the setting up of a Joint Venture company (“JV Company”) to define the structure, ownership, and operational aspects of the Fenglin MOU. The expected JV Company will have a paid-up capital of at least S$3 million, with LSI holding a 51% stake. The Investor Parties are all established businessmen with deep connections to China’s medical and life science industries and will contribute their business network, expertise, and experience to facilitate the smooth set-up and successful realisation of the Fenglin MOU’s objectives.
The Fenglin MOU reflects the Group’s continued efforts to broaden its revenue stream and capture new regional opportunities. Following the Group’s MOU for the supply of high-grade silica sand from Indonesia, AcroMeta has extended its MOU with its Thai partner to jointly pursue the design, construction and operation of a solid waste and sludge testing and certification laboratory.
ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.
The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities, and cleanrooms.
ACROMETA’s business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.
The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA’s customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.
The Company has been listed on the Catalist Board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.
Media and Analysts Contact: ACROMETA Group Limited Ms. Cheah Lai Min Chief Financial Officer Tel: +65 6415 0574 Email: laimin.cheah@acrometa.com
This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com
Northway Group is embarking on a project to establish Europe’s largest biotechnology hub, BIO CITY, in Vilnius, the capital of Lithuania. It includes 6 large biotechnological complexes – 4 state-of-the-art GMP manufacturing plants and 2 advanced scientific research centres – that will be built in an area equivalent to 10 football fields. The total investment for this biotech campus is projected to reach approximately 7 billion euros over the next decade.
BIO CITY Map
Northway Group is in the process of constructing Europe’s largest biotechnology hub, with the inaugural Gene Therapy Center set to be operational in 2024.
“A science-based economy, supported by bright minds and intelligent entrepreneurs, is the foundation for Lithuania’s long-term economic prosperity. In the past, our growth was constrained by a lack of fossil resources, but today, we are boldly moving forward, relying on modern technologies. The new biotechnology hub embodies the direction of Lithuania’s innovative economy. It also promises new inventions that will enable people with serious illnesses to become full members of society, thereby reducing exclusion,” says the President of the Republic of Lithuania, Gitanas Nausėda.
Prof. Vladas Algirdas Bumelis, founder and CEO of Northway Biotech and Celltechna, key components of the Northway Group, highlighted Lithuania’s strong global standing in biotechnology. The aim of the BIO CITY project is to further solidify this position with four advanced biomanufacturing facilities and two innovative research centres, significantly boosting Lithuania’s prominence in the international biotech sphere.
The Speaker of the Seimas, parliament of Lithuania, states that the new biotech city being developed in Vilnius will strengthen the competitiveness of our country. “Lithuanian life sciences industry has ambitions and potential to become a global leader in this field: a leader who will significantly contribute to the development of scientific research for the well-being of man, nature and planet, and will facilitate new opportunities to deal with global health, sustainable development and other challenges,” says Viktorija Čmilytė-Nielsen.
Vision of BIO CITY: A European Biotechnology Leader “We envision BIO CITY as a frontrunner in the European biotechnology, by uniquely integrating various biotech segments into a single, synergistic ecosystem. This multifunctional complex will catalyse interdisciplinary collaborations, the quick realisation of ideas and technological advancements. Our unique model, which brings together diverse biotechnology fields in one location, is set to revolutionise the European biotech landscape,” said Prof. V. A. Bumelis.
Gene Therapy Centre will Open in 2024 The first facility to open its doors in the biotech hub BIO CITY will be the Gene Therapy Centre, which is currently under construction and is being built by Northway Group’s subsidiary, Celltechna. This centre, the first and so far the only one of its kind in the Baltic States, will bolster Lithuania’s role in gene therapy, addressing the needs of the 280 million individuals worldwide who are affected by genetic diseases.
“Our state-of-the-art facility will be instrumental in both research and production, offering new treatments for previously incurable diseases. This will not only augment our CDMO (Contract Development and Manufacturing Organisation) capabilities, but also position us for global competition and collaborations,” added Prof. V. A. Bumelis.
The Gene Therapy Centre, which is expected to become operational in the second quarter of 2024, will specialise in gene therapy research and GMP manufacturing. Representing an investment of 50 million euros, the facility will span 8,000 square metres and is anticipated to create over 100 high-value jobs. The centre will work in synergy with Northway Biotech. Established in 2004, Northway Biotech is a leading provider of CDMO services in the field of biologics, with a focus on the development and manufacturing of recombinant proteins and antibodies.
A Comprehensive Lithuanian Biotech Hub By 2030, BIO CITY will see the inauguration of five additional complexes, including centres for R&D and Virology, Life Sciences Industry Smart Services, Stem Cell Research and 3D Bioprinting, as well as two large-scale production centres for mammalian and microbial products. The entire BIO CITY complex will span an area equivalent to 10 football fields, with the total investment expected to reach around 7 billion euros over the next decade.
“We will not only focus on contract development and manufacturing services, but will also invest significantly in the operation of scientific research centres. Scientific activity enhances a country’s competitiveness and generates value in various forms, beyond just the economic aspect. Modern biotechnologies, such as gene editing and cell therapies, are advancing rapidly. Lithuania can pride itself on having some of the most talented scientists and robust expertise in these areas. The development of the biotech campus in Vilnius means we are poised to foster new partnerships with innovative startups, research institutions and pharmaceutical companies on a global scale. We are actively seeking partnerships and offer a warm invitation to investors who are enthusiastic about joining this exciting venture,” said Prof. V. A. Bumelis.
Upon its completion, BIO CITY is expected to offer employment to approximately 2,100 highly skilled professionals, including scientists, biotechnologists, and medical engineers.
Lithuania is Among the Leaders in the Global Biotechnology Market The global biotechnology market, currently valued at over 1,130 billion euros, is anticipated to grow to be worth more than 2,775 billion euros by 2030. Lithuania holds a strong position in this market, ranking among the Top 35 innovative countries in the biotechnology field, according to Scientific American Worldview.
“Every year, Lithuania is mentioned in the field of Life Sciences more often, and the ambitious BIO CITY project will contribute to our leadership. Our vision is coming to life – we are talking about world-class Life Sciences infrastructure and a competitive sector capable of building innovative products. In 2022, companies in the sector posted combined revenues of 1.5 billion euros, while exporting their goods to more than 100 countries. Overall, Life Sciences is a leading sector in Lithuania, when it comes to creating and implementing innovative solutions,” states Aušrinė Armonaitė, the Minister of the Economy and Innovation.
Over 80 life science companies operate in Lithuania, contributing about 2.5% to the country’s GDP. The Northway group, a key player in Lithuania’s biotech sector, manages seven companies: five in Lithuania and one each in the UK and the US, with the US entity being recognised as the largest biotech investor from the Baltic region in recent years. Employing more than 200 specialists, these companies provide services to a diverse array of international biopharmaceutical firms, ranging from small to large enterprises, predominantly operating in both Europe and the US.
ZAGENO Recognized as a Trailblazer in the ProcureTech100 2023 Awards for its Revolutionary Marketplace
ZAGENO Inc., the leading marketplace for life science research products, proudly announces its inclusion in the prestigious 2023 ProcureTech100. This distinguished reward is reserved for a select group of technology, data, and analytics solutions celebrated for their exceptional innovation, scalability, and transformative impact on the digital procurement landscape.
ProcureTech100
Florian Wegener, CEO of ZAGENO Inc., expressed honor in being recognized among this elite group of companies, stating, “We look forward to advancing our mission to accelerate life science research and empower procurement teams globally.”
The rigorous selection process scrutinized over 5,000 global digital solutions, evaluated by esteemed procurement leaders, technology experts, and B2B investors. Dr. Elouise Epstein, Partner at Kearney, highlighted the significance of ProcureTech100 in identifying groundbreaking solutions that drive short-term benefits and long-term value in the supply chain.
ZAGENO, the leading lab supply marketplace, provides a superior selection of high-quality products from leading suppliers, emphasizing quality and convenience. Through streamlined order tracking and billing, ZAGENO simplifies and enhances the global procurement process for biotech and pharmaceutical companies. Customers benefit from the following:
Accelerate “Phase I Clinical Trial” Timelines: ZAGENO is committed to minimizing the time it takes to reach “phase I clinical trials,” ensuring a swift and efficient progression through crucial research phases.
Enhance Scientist Productivity: By leveraging ZAGENO’s platform, scientists can experience increased efficiency and productivity, streamlining their workflow and allowing them to focus on advancing critical research initiatives.
Strengthen Supply Chain Resilience: ZAGENO is pivotal in strengthening the supply chain’s resilience for biotech and pharma companies, offering a dependable and robust procurement infrastructure that contributes to overall supply chain stability.
The announcement of the 2023 ProcureTech100 took place at the ProcureTech PIONEERS event, attracting hundreds of procurement and digital leaders. ZAGENO is honored to be featured in this exclusive list and remains committed to delivering optimal solutions for its customers.
To learn more about ProcureTech100, please visit the ProcureTech100 website.
To learn more about ZAGENO Inc., please visit the ZAGENO website.
Contact Information: Stephanie Harold pr@zageno.com +1 (857) 477-8479
The new board and leadership appointment aligns with the company’s commitment to advancing the industry through innovation and the expansion of AI across its solutions
Envision Pharma Group (Envision), a leading global technology-enabled strategic solutions partner for the life sciences industry, unveils its AI Innovation Board and announces the appointment of Dr. Loubna Bouarfa as AI thought leader and Chairwoman of the newly established board. This strategic move underscores Envision’s global commitment to harnessing the power of AI to shape the future of the life sciences industry.
Previously serving as the CEO and founder of OKRA.ai, which was acquired by Envision in February 2023, Dr. Bouarfa revolutionized healthcare by creating AI systems that support life sciences companies to better enable the drive of personalized medicine across the globe. In this new role, she will apply her deep expertise to intertwine AI with all the services that Envision offers.
“Loubna’s appointment and the establishment of the new AI Innovation Board marks a significant step toward aligning our innovation and technology efforts to drive our strategies for our internal team, business, and partners,” shares Howard Miller, CEO of Envision Pharma Group. “We are confident this strategic move will propel Envision to new heights.”
In her new role, Dr. Bouarfa will focus on advancing AI strategy and promoting its integration across all aspects of Envision. This appointment solidifies Envision’s dedication to leveraging AI to deliver innovative, faster outcomes for the life sciences industry. In addition, Dr. Bouarfa will lead the AI Innovation Board to define and develop Envision’s AI strategy across all technology platforms, solidify thought leadership as pioneers in AI, and pilot new innovative AI applications.
Having earned the Deloitte Fast 50 Women in Leadership Award and a place on Forbes’ 50 Top Women in Tech list, Dr. Bouarfa expressed her commitment to the role, saying, “I am excited to take on this new challenge and continue driving AI innovation at Envision. We are dedicated to leading the industry in this space and delivering innovative solutions that will transform the future of life sciences. Our success will not only bring commercial benefit to clients but lead to improved patient outcomes across the globe.”
About Envision Pharma Group Founded in 2001, Envision Pharma Group is a leading global technology-enabled strategic solutions partner for the life sciences industry, working with over 200 pharma and biotech companies, including 19 of the top 20 pharmaceutical companies. Envision supports clients across the product life cycle through a comprehensive suite of services and industry-leading technology solutions that include artificial intelligence and natural language processing, commercialization and integrated strategic consulting, evidence-based scientific communications and engagement, HEOR/market access and data analytics, medical capabilities, and omnichannel solutions. Learn more at www.envisionpharmagroup.com.
Contact Information Colleen Carter Associate Director, Communications, Office of CEO colleen.carter@envisionpharma.com 1 (508) 505 8856
A significant step forward for the development for Indonesia’s MedTech sector
Sepuluh Nopember Institute of Technology (ITS), a leading university in Indonesia, with PT Tekno Sains Medika and PT Bina Makmur Abadi, has developed seven medical devices using integrated digital technologies, in a significant boost to the country’s nascent MedTech industry.
The seven devices use integrated 3D design and digital fabrication technology. Through fabrication technology, products can be customized and made based on consumer request. It is expected that the use of this technology can help speed up the handling of medical cases, said Djoko Kuswanto, ITS lecturer and medical equipment inventor.
ITS launches seven medical technology devices using integrated 3D design and digital fabrication technology – a boost to the country’s MedTech industry [IMAGE: ITS].
The new products include AMO3D, a 3D-printed implant mold based on patient data; GUO3D, a 3D-printed work support tool; and PRO3D, a 3D-printed body protective device made using patient-specific scans. These tools are the only ones in Indonesia that combine innovation and digital technology for use in healthcare settings.
ITS has also created products called HUMA3D in the form of a mannequin, and TSM.Bones, a replica of human bones for educational purposes and clinical training for aspiring medical professionals.
The final products are RiseHand, a tool that assists patients with amputated fingers in grasping objects, and Surgical Instrument, a range of tools for surgical operations, including scissors, knives, and tweezers.
These medtech products, which were launched at the 35th Hospital Expo, Jakarta Convention Center on October 18 have been used by several hospitals and universities in Indonesia, and hundreds of units of the devices have been ordered. So the quality of these products is no less competitive comparing with products from developed countries, Kuswanto said.
Bambang Pramujati, ITS Deputy Rector, said: The launch of these medtech devices is proof of ITS’ commitment to developing technology in the health sector. The large volume of imported medical equipment and the rapid development of technology prompted ITS to develop the medical equipment by increasing the domestic component level to above 40 percent.
Besides collaborating with Airlangga University Hospital (RSUA) for the research and trials phase, the development of the new medical devices also involved the use of locally sourced components and the support of digital technology, said Pramujati.
Digital 3D printing technology, artificial intelligence (AI), as well as augmented reality (AR) and virtual reality (VR), can be used to improve health facilities in Indonesia, Pramujati said.
Nike Besta Sari, Director of PT Tekno Sains Medika, said: The price of the products is lower compared to other similar products. For example, HUMA3D is being sold for just under Rp50 million (around US$3,200), which makes it cheaper compared to similar products that cost hundreds of millions of rupiah.
Using locally-made components, the new devices are produced on a pre-order system. Sales pricing is less than that of imported products, but does not reduce product quality, Sari said, adding that the company would be holding development workshops regarding the healthcare tools at various locations throughout Indonesia.
By Yashinta Difa Pramudyani, Edit by Anton Santoso, COPYRIGHT (c) ANTARA 2023
A new research team at the BioMed X Institute will develop a novel strategy to selectively target autoreactive plasma cells in autoimmune disease.
BioMed X, an independent biomedical research institute, announced yesterday the launch of a Call for Application in immunology. This call aims to assemble a new research team to develop innovative strategies for neutralizing autoreactive plasma cells in the context of autoimmune disease.
Current therapeutic strategies for autoimmune diseases primarily focus on broadly suppressing the immune response, with significant side effects. More importantly, none of these treatments address one of the root causes of the disease, the autoreactive plasma cells that produce antibodies targeting self-antigens. By exploring the deep biology of human autoreactive plasma cells to identify biomarkers that distinguish them from their physiological counterparts, this project aims to identify new therapeutic strategies to selectively eliminate these cells in patients suffering from autoimmune diseases.
“Immunology – including autoimmunity – is one of our R&D focus areas at our BioMed X Institutes in Heidelberg, New Haven, and our XSeed Labs in Ridgefield. Currently, we are hosting five immunology research teams at different stages of development. We are excited to extend our immunology research capabilities with this new project in the field of autoreactive plasma cells,” explains Christian Tidona, Founder and Managing Director of the BioMed X Institute.
This new research group will be located at the BioMed X Institute in Heidelberg, Germany. Each BioMed X project is a collaboration with a leading pharmaceutical company. To learn more about this project and how to apply, visit the BioMed X Career Space at https://career.bio.mx/call/2023-BMX-C02. The deadline for applying is January 7, 2023.
About BioMed X BioMed X is an independent research institute with sites in Heidelberg, Germany, New Haven, Connecticut, XSeed Labs in Ridgefield, Connecticut, and a worldwide network of partner locations. Together with our partners, we identify big biomedical research challenges and provide creative solutions by combining global crowdsourcing with local incubation of the world’s brightest early-career research talents. Each of the highly diverse research teams at BioMed X has access to state-of-the-art research infrastructure and is continuously guided by experienced mentors from academia and industry. At BioMed X, we combine the best of two worlds – academia and industry – and enable breakthrough innovation by making biomedical research more efficient, more agile, and more fun.
ACROMETA signs MOU with PT. Swadaya Buana Makmur for the supply of high-grade silica sand from West Kalimantan.
Up to one million tonnes of supply annually targeted with an estimated open market value of US$39 million[1]
ACROMETA Group Limited (ACROMETA, or the Company and together with its subsidiaries, the Group), today announced that the Company has signed a Memorandum of Understanding (MOU) to pursue new business opportunities in Indonesia.
A non-binding non-exclusive MOU was signed between ACROMETA and PT. Swadaya Buana Makmur (PTSBM) for the supply of high-grade silica sand from West Kalimantan, Indonesia.
Subject to relevant export approvals, a new subsidiary set-up for the proposed business will target to purchase and PTSBM will target to supply an annual offtake of up to 1,000,000 tonnes of Low Iron Silica Sand with a guaranteed quality of at least 99.5% SIO2 at prices and payment terms in line with market conditions. Both parties are set to enter into definitive Offtake/Purchase Agreements with a target for the Newco to commence its first trade by 15 January 2024.
Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman said, “The MOU with PTSBM is a synergistic opportunity given the Group’s deep expertise in specialist engineering services as we seek to broaden the Group’s revenue stream. ACROMETA will continue to capture new business opportunities to grow and create shareholder value for its investors.”
Trend for the demand for high-grade 99.5% purity silica sand is increasing and are used in the manufacture of precision glass instruments, ophthalmic lenses and LCD screens required by many industries such as the biotechnology, electronics, and pharmaceutical industries. In construction, it is the main structural component in several construction products such as flooring, mortars, cement, roofing shingles, and asphalt. The Group is currently speaking with potential international buyers before entering into formal offtake agreements with PTSBM.
[1] Market Prices fluctuate according to prevailing market conditions.
About ACROMETA Group Limited (SGX Stock Code:43F) ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.
The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.
ACROMETA’s business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.
The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA’s customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.
The Company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.
Media and Analysts Contact: ACROMETA Group Limited Ms. Cheah Lai Min Chief Financial Officer Tel: +65 6415 0574 Email: laimin.cheah@acrometa.com
This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange
Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com
Advanced Skincare Solutions Designed by Aesthetic Experts Set to Transform the Industry Landscape; Further Diversifying DC Healthcare’s Portfolio
DC Healthcare Holdings Berhad (DC Healthcare or the Company), an aesthetic medical services provider specialising in the provision of non-invasive and minimally invasive procedures, announced today the launch of ‘newB,’ a state-of-the-art skincare line developed by its subsidiary, Ten Doctors Sdn Bhd (10DRS). The new range is segmented into two categories: newB Premium Ageless and newB Premium Hydration, both formulated to set new standards in skincare efficacy.
Dr. Chong Tze Sheng, Managing Director of DC Healthcare
Engineered with the revolutionary ingredient DiamondC60™, the newB Premium Ageless range delivers potent anti-ageing benefits. This ground-breaking ingredient contains Japan Quality Fullerene “The First Natural Fullerene in Malaysia directly from Japan”, exhibits superior anti-oxidative performance compared to traditional anti-ageing components like Vitamin C.
In parallel, the newB Premium Hydration collection is empowered by the innovative 7HA Boost Complex. This advanced formulation incorporates seven distinct molecular sizes of hyaluronic acid and FUCOGEL®, ensuring ultimate water-boost for lasting healthy, soft and plump skin.
Dr. Chong Tze Sheng, Managing Director of DC Healthcare, stated, “The launch of newB is a strategic move in diversifying our healthcare portfolio. Our skincare products are developed with scientific precision, catering to the evolving skincare needs of our clientele. These new product lines not only contribute to our revenue streams but also enhance our reputation as a comprehensive healthcare provider. We are particularly encouraged by the commercial applications of DiamondC60™, an ingredient that we believe will set new industry standards.”
Amid projections for the Malaysian aesthetic medicine market to register a CAGR of 18.8% from 2021 to 2027, the introduction of newB resonates with DC Healthcare’s commitment to innovation and excellence. The new skincare ranges are available for purchase through multiple online platforms, including Shopee, Lazada, TikTok shop, and Watsons Malaysia Online Store.
Moving forward, DC Healthcare will continue to focus on its core business, which includes aesthetic services and innovative healthcare solutions like newB. The Company plans to expand existing clinics, invest in cutting-edge technology, and fortify its team of medical professionals to capitalise on the growth opportunities presented by the aesthetic medicine market.
As at 31 October 2023, the share price of DC Healthcare stands at 0.52 sen per share, reflecting a market capitalisation of RM518.1 million.
