Day: January 12, 2022

HONG KONG, Jan. 12, 2022 /PRNewswire/ — Tsangs Group is pleased to announce that the company is expanding to Dubai, UAE with the approval by the Dubai Financial Services Authority. The new office at N405, 4th Floor, Emirates Financial Towers, DIFC, Dubai, UAE is registered as a Designated non-Financial Businesses and Professions (“DNFBP”) on 20 December 2021. This is its first footprint as a Single Family Office in the Middle East region to invest and explore collaboration opportunities.

The new office is located at Dubai International Financial Center (“DIFC”), a leading international financial hub in the MEASA region. It has over 2,500 active registered firms that benefit from the centre’s robust independent judicial system and regulatory framework. Tsangs Group believes that the internationalised standard and the dynamic diversification shall support its business development with new opportunities in the new regions. It also aligns with the company’s tagline “Think Global. Be Local.” which signifies “we think global and act as a responsible global player but we run the team like a family with robust local on the ground knowledge”.

“Dubai is a dynamic place with more than 52,000 millionaires. This place has been doing excellent work during the COVID pandemic, especially the successful launch of Expo 2020 Dubai, which perfectly demonstrates the flexibility and reliability of the city. Tsangs Group shall be implementing the strategy of bridging East and West. 2021 marks the 50th anniversary of the foundation of the UAE which is perfect timing for us to contribute and create value for the next 50 years in Dubai, UAE and the GCC Region,” commented Patrick Tsang, Chairman of Tsangs Group.

About Tsangs Group

Tsangs Group is an innovation-focused global family office that bridges East and West. Our mission is to invest in global opportunities that allow us to exert positive influence and drive positive impact in Hong Kong, Asia and beyond.

Headquartered in Hong Kong, Tsangs Group has direct investments across the world, we seek out positive impact investments that reflect our values of innovation, sustainability, and togetherness. Our strategy is opportunistic and both sector and location agnostic.

From fintech to entertainment to space travel, we are always investigating, analysing, and supporting the cutting edge of global innovation and development.

For more information, please visit: https://tsangsgroup.co/.

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GUANGZHOU, China, Jan. 12, 2022 /PRNewswire/ — Innovation is a new engine of China’s growth. In the last decade, GAC MOTOR and many other Chinese brands have shifted from “made in China” to “made with Chinese technology.” GAC MOTOR has had considerable success with this new era of smart manufacturing and attention to quality, winning awards including “Best Chinese Automobile Brand” in the UAE; the “Automobile Enterprise of the Year” award in Nigeria; the 2021 Twitter China Overseas Leading Brand Award; and the 2021 PRNewswire “Overseas Expansion Award.”

Bringing “Made with Chinese technology” to the World

Data shows that in 2021, China exported more than 1,793,000 vehicles, a year-on-year increase of 110%. It is no longer a question of whether Chinese carmakers ought to expand abroad, but when. GAC MOTOR’s strategy can now be referenced as a successful growth template.

Localized Brand Building: Integrating Into Overseas Target Markets

GAC MOTOR has actively integrated into local life, building close connections with consumers. In Chile, for example, GAC MOTOR GS4 was the official car of the 40th ANFP Copa Chile, the highest-level football tournament in the country.

In October, 1000 GAC MOTOR cars were sent to Nigeria to be used in a government-sponsored “LAGOS RIDE” public travel project. GAC MOTOR also collaborated with the Lagos state government to build a vehicle assembly plant.

These projects promote much positive economic development, reducing costs and increasing efficiency, and paving the way for the future.

A “Business Card” for Chinese Craftsmanship: Quality Creates Sales

Sales speak for themselves. In 2021, GAC MOTOR exported more than 20,000 vehicles, a year-on-year increase of 72.5%.

As well as the awards mentioned above, the GA6 won “Best Medium-Sized Car” at the Jeddah Auto Show in Saudi Arabia, and the GS5 won “Best Design” award for a medium-sized SUV. The GN6 won “Best MPV 2021”, and the GS8 the “Most Desirable SUV” award in Nigeria.

Outstanding digital marketing achievements were also made, with GAC MOTOR reaching 1 million followers, as well as winning the “Best Social Media & Marketing Innovation Award” at the Meihua Innovation Awards 2021.

As technology progresses, and “made in China” becomes “made with Chinese technology,” Chinese automobile brands must rise to the competitive challenge. GAC MOTOR’s efforts have provided a useful reference for other Chinese independent brands.

Video – https://mma.prnewswire.com/media/1722842/1231.mp4

• ABL and SANOFI to collaborate on the development of ABL301, a potential first-in-class bispecific antibody targeting alpha-synuclein and containing a proprietary brain shuttle, for alpha-synucleinopathies, including Parkinson’s disease
• ABL301 uses ABL’s Grabody-B platform technology to effectively cross the blood-brain barrier
• ABL to receive $75M upfront and up to $985M in potential milestone payments for exclusive global license to ABL301

SEONGNAM, South Korea, Jan. 12, 2022 /PRNewswire/ — ABL Bio, Inc. (KOSDAQ: 298380), a clinical-stage biotech developing bispecific antibody technology for immuno-oncology and neurodegenerative diseases, today announced an exclusive collaboration and worldwide license agreement with SANOFI to develop and commercialize ABL301, a pre-clinical stage bispecific antibody targeting alpha-synuclein and IGF1R to treat Parkinson’s disease and other potential indications with enhanced blood-brain barrier (BBB) penetration.

Under the terms of the agreement, ABL will receive $75 million in upfront payments. In addition, ABL is eligible to receive up to $985 million based on the achievement of predefined development, regulatory and commercialization milestones, including $45 million in near-term milestones. ABL is also eligible to receive royalties on net sales if the product from the collaboration is commercialized. The transaction will become effective after customary closing conditions are met, such as the HSR clearance.

SANOFI will receive worldwide exclusive development and commercialization rights to ABL301. Meanwhile, ABL will lead the preclinical development and Phase 1 clinical trial of ABL301. Thereafter, SANOFI will be responsible for further clinical development, regulatory approval and commercialization of ABL301 worldwide.

Grabody-B is a BBB shuttling platform that targets the insulin-like growth factor 1 receptor (IGF1R) to maximize BBB penetration of potential therapies for various CNS-related diseases. Utilizing Grabody-B technology, ABL301 effectively carries the anti-alpha-synuclein antibody across the BBB to enhance therapeutic efficacy against Parkinson’s disease.

“This groundbreaking partnership with SANOFI proves the immense possibilities of ABL’s innovative bispecific antibody technology.” said Sang Hoon Lee, PhD, CEO of ABL Bio. “We will continue to develop our Grabody-B platform and expand its applicability in other neurodegenerative diseases, such as Alzheimer’s, to contribute to improving the lives of patients worldwide.”

About ABL301

ABL301 is a bispecific antibody composed of an anti-alpha-synuclein antibody and Grabody-B, a BBB-penetrating shuttle targeting insulin-like growth factor 1 receptor (IGF1R). It is being developed as a potential first-in-class bispecific antibody therapeutics for the treatment of synucleinopathies, including Parkinson’s disease. In preclinical studies, ABL301’s anti-alpha-synuclein domain showed robust recognition of pathological aggregates with high affinity and with minimal affinity to monomeric alpha-synuclein. By utilizing the Grabody-B platform, ABL301 is proven to enter the brains and cerebrospinal fluid (CSF) of rodents and non-human primates more efficiently than an alpha-synuclein monoclonal antibody. Due to its superior BBB-penetrating capability, ABL301 showed better efficacy to reduce brain aggregated alpha-synuclein in a Parkinson’s disease mouse model than the monoclonal alpha- synuclein binding antibody.

About Grabody-B

Low brain exposure has been one of the major obstacles to the development of central nervous system (CNS) drugs. Grabody-B is a molecular shuttle to facilitate the CNS-penetration of therapeutics through straightforward generation of a bispecific antibody or antibody-drug conjugate. Grabody-B is a non-neutralizing anti-IGF1R antibody and therefore does not interfere with IGF1R signaling nor seriously affect the body’s innate IGF1R axis. Grabody-B has proven to induce significantly higher BBB-penetration of various therapeutic antibodies in rodents and non-human primates with superior efficacy or pharmacodynamic effects compared to monoclonal antibodies. Given IGF1R’s relatively specific expression in the CNS and its non-neutralizing property, Grabody-B is believed to be a safe and efficient shuttle to enhance the efficacy of therapeutics for various CNS-related diseases in clinics.

About ABL Bio

ABL Bio, Inc. (KOSDAQ: 298380) is a clinical-stage biotechnology company developing antibody therapeutics for immune-oncology and neurodegenerative diseases. With internal R&D and global partnerships, ABL has developed multiple BsAb platforms, such as ‘Grabody-T,’ ‘Grabody-I’ and ‘Grabody-B’ and built an innovative pipeline of multiple clinical and pre-clinical stage drug candidates. In the oncology area, we have developed Grabody-T, a modular 4-1BB engaging platform that has demonstrated superior efficacy and safety. In the neurodegenerative disorder space, we have developed Grabody-B, which is designed to maximize blood-brain barrier (BBB) penetration. Grabody-B is applicable to various CNS targets across a plethora of neurological disorders, potentially providing a breakthrough to address the high unmet medical needs in neurodegeneration. For more information, please visit www.ablbio.com.

Contact:
media.relations@ablbio.com

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