Category: English

Self-hosted, open source solution enables AI-augmentation of mission-critical operations while maintaining full data control and avoiding vendor lock-in

Palo Alto, CA, June 07, 2023 (GLOBE NEWSWIRE) — Mattermost, Inc., the leading secure collaboration platform for technical teams, today announced a new “Customer-Controlled AI Architecture” enabling defense, government and technology enterprises to apply generative AI technologies to enhancing or replacing operational workflows while meeting stringent data control requirements and avoiding lock-in to vendor-specific platforms.

“If you’re part of an organization that has clear competitors or adversaries, then you’re in a race right now to unlock the power of AI for gaining speed and decision advantage,” said Ian Tien, Mattermost CEO. “Our release today serves organizations competing in that race who also need to meet strict security and sovereignty requirements.”

The open source, self-managed solution provides feature-rich, chat-based collaboration across web, desktop and mobile experiences to engage with colleagues as well as AI bots powered by an interchangeable set of open source AI platforms, known as large language models, or “LLMs”. The system can be fully controlled by a customer within their private network or data center, and can even be deployed to air-gapped networks disconnected from the internet.

Benefits of Mattermost’s customer-controlled AI platform include:

• Fully-featured chat-based collaboration including 1-1 and group messaging across, web, desktop and mobile, with file and media sharing, search, integrations, custom emojis and emoji reactions, syntax highlighting and custom rendering.
• Conversational AI bots that can be added to channels and engaged like human users to respond to questions and requests based on different LLMs that can be downloaded and run as part of the framework, including models from the HuggingFace AI community.
• Scalable AI model framework that can scale up to deploy on a private cloud or data center using large and powerful open source LLM models for group work, or scale down to run on a commodity laptop, without the need for specialized hardware required by typical AI models, for individual developers to prototype and explore LLM capabilities.
• Conforming security and compliance platform that can accommodate a broad range of custom security and compliance requirements, including automated scanning of the platform’s open source code base, monitoring and securing of all incoming and outgoing network traffic and deployment to restricted networks.

This new framework is an initial release in a series of reference architectures that Mattermost, Inc. intends to offer.

“While open source LLMs are in their infancy, we see them on course to materially accelerate operational collaboration,” adds Tien. “They’ll increase the attention and focus on our most impactful discussions, while reducing the drudgery of sifting through daily information flows. While we are starting with an open source, private cloud framework, over time we intend to add integration with proprietary, public cloud based AI models, because we believe enterprises are best served with a range of solutions to meet different needs.”

The Mattermost AI Framework is available for download on GitHub’s open source platform at https://github.com/mattermost/mattermost-ai-framework.

About Mattermost 

Mattermost provides secure collaboration for technical and operational teams that need to meet nation-state-level security and trust requirements. We serve technology, public sector, and national defense industries with customers ranging from tech giants, to the U.S. Department of Defense, to governmental agencies around the world.

Our self-hosted and cloud offerings provide an extensible hub for technical communication across web, desktop and mobile for incident collaboration, operational workflows, integration with Dev/Sec/Ops and in-house toolchains, and leading unified communications platforms.

We are built on an open source platform vetted and deployed by the world’s most secure and mission critical organizations, that is co-built with over 4,000 open source project contributors who’ve provided over 30,000 code improvements towards our shared product vision, which is translated into 20 languages.

To learn more, visit www.mattermost.com.

Mattermost and the Mattermost logo are registered trademarks of Mattermost, Inc. All other trademarks are the property of their respective owners.

Attachment

• Mattermost announces Customer-Controlled AI Architecture

Amy Nicol
Mattermost
+1 (650) 667-8512
media@mattermost.com

GlobeNewswire Distribution ID 8853788

The entertainment destination announces international franchise partnership with the Malpani Group and NightOwl Entertainment

DALLAS, June 06, 2023 (GLOBE NEWSWIRE) — Dave & Buster’s, the ultimate destination for food, drinks, and entertainment, announces two more significant deals for its global expansion plans. The first deal includes a 15-store partnership in India with the Malpani Group, and the second deal comprises a 5-store partnership with the NightOwl Entertainment Group in Australia. These strategic alliances mark Dave & Buster’s second and third multi-store franchise agreements, firmly cementing the brand in the APAC and MEA regions with a total of 31 stores committed to development since global expansion plans were announced in 2022.

“We’re thrilled to partner with the Malpani Group to bring the Dave & Buster’s experience to the Indian consumer, as India’s vibrant economy has ranked the country in the top 5 globally. The Malpani Group, known for its passion for innovation and diversified growth, is poised to dominate the indoor and outdoor entertainment industry,” said Antonio Bautista Chief International Development Officer for Dave & Buster’s. He added, “Likewise, we’re delighted to join forces with the NightOwl Entertainment Group, a forward-thinking hospitality and entertainment company revolutionizing the industry in Australia. Australia’s dynamic market presents a significant opportunity for growth, and the NightOwl Entertainment Group, renowned for its innovative approach, is the ideal partner for our brand. We can’t wait to bring our unparalleled entertainment experience to this vibrant market.”

Jai Malpani, Director of Malpani Group, expressed his enthusiasm for the partnership. “We are delighted to partner with Dave & Buster’s, an established brand with a proven track record in the entertainment industry,” said Malpani. “We believe their expertise in family entertainment and dining experiences will complement our portfolio, and we look forward to a successful collaboration.”

David Heaton, the Founder and CEO of NightOwl Entertainment, also shared his excitement for the partnership. “We’re incredibly excited to partner with the brand that pioneered location-based entertainment and continues to be the point of reference globally in this space,” said Heaton. “We’re confident that together, we’ll bring unparalleled experiences to our customers.”

Dave & Buster’s has implemented several strategic initiatives to ensure a successful global expansion, including a customizable footprint tailored to meet specific market requirements and the localization of menu offerings with high regional resonance to cater to local preferences and tastes. They have also introduced a proprietary dynamic pricing model to offer flexible pricing options, launched global marketing programs that are demographically agnostic yet locally executable, and implemented a unique amusement strategy and packages to differentiate themselves in the market.

Dave & Buster’s is also excited to offer localized entertainment and late-night programming for customers and introduce immersive experiences to enhance customer engagement in the competitive socializing space. With these initiatives, Dave & Buster’s is confident they will provide an exceptional experience to their global customers.

About Dave & Buster’s
Founded in 1982 and headquartered in Coppell, Texas, Dave & Buster’s Entertainment, Inc., is the owner and operator of 200 venues in North America that offer premier entertainment and dining experiences to guests through two distinct brands: Dave & Buster’s and Main Event. Dave & Buster’s has 152 stores in 41 states, Puerto Rico, and Canada and offers guests the opportunity to “Eat, Drink, Play and Watch,” all in one location. Each store offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Main Event operates 52 centers in 17 states across the country and offers state-of-the-art bowling, laser tag, hundreds of arcade games, and virtual reality, making it the perfect place for families to connect and make memories. For more information about each brand, visit www.daveandbusters.com and www.mainevent.com

About Malpani Group:
The Malpani Group from Sangamner is a well-diversified business house with interests in renewable energy, FMCG products, real estate, hotels, and more. However, the group’s success story goes beyond its diverse portfolio of businesses. The Malpani Group has always been committed to customer satisfaction and social responsibility, which has been the key to its phenomenal growth.

Currently, the Malpani Group is one of the leading owners and operators of amusement and water parks in India. They operate India’s largest theme and water park, Imagicaa, along with five other parks in India. Their amusement and water parks have become a popular destination for families, thrill-seekers, and tourists, offering a unique and immersive experience for all ages. With their unwavering commitment to excellence and customer satisfaction, the Malpani Group has set a new standard for business success and social responsibility, reflecting their strong belief in giving back to society.

About NightOwl Entertainment
Established in 2008, NightOwl Entertainment is one of Perth’s largest hospitality groups. Operating several venues across Perth and building many more nationally! Each with a distinct identity and target demographic. In the business of pubs and clubs and now location Based Entertainment practicing a strong corporate ethos and boasting one of the most sophisticated management systems in the industry, with centralized processes and procedures, best practice data analytics, and bespoke in-house training for staff.

Media Contact:
Antonio Bautista
Antonio.Bautista@daveandbusters.com

GlobeNewswire Distribution ID 8852831

Global medical technology company will use Anaqua’s AQX to help consolidate and coordinate the management of all its IP assets

BOSTON, June 06, 2023 (GLOBE NEWSWIRE) — Anaqua, the leading innovation and intellectual property (IP) management technology provider, today announced that global medical technology company Getinge has selected Anaqua’s AQX in order to consolidate the management of all its IP assets onto a single, centralized platform.

Founded in Sweden in 1904, Getinge provides hospitals and life science institutions in 133 countries with products and solutions that aim to improve clinical results and optimize workflows.

Anna Maria Lagerqvist Gahm, Head of IP & Digital Law at Getinge, said: “With our extensive range of products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing, life science and digital healthcare solutions and our strong international presence with operations in more than 40 countries worldwide, it was important to be able to improve the efficiency and coordination of our IP management by consolidating onto a centralized platform. AQX enables us to do that, while also providing highly integrated functionality in key areas such as analytics and invention management.”

Bob Romeo, CEO of Anaqua, said: “Getinge focuses on helping its customers save lives through the products and solutions it develops, and on achieving its goal of becoming the world’s most trusted and respected medtech company. We are delighted to be supporting Getinge on that journey by helping manage and protect the company’s valuable IP assets. Anaqua continues to invest in offerings to meet and exceed the ever-evolving demands of the world’s most innovative life science companies.”

About Getinge

With a firm belief that every person and community should have access to the best possible care, Getinge provides hospitals and life science institutions with products and solutions that aim to improve clinical results and optimize workflows. The offering includes products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing and life science. Getinge employs over 11,000 people worldwide and the products are sold in 133 countries.

About Anaqua

Anaqua, Inc. is a premier provider of integrated intellectual property (IP) management technology solutions and services for corporations and law firms. Its IP management software solutions, AQX and PATTSY WAVE, both offer best practice workflows with big data analytics and tech-enabled services to create an intelligent environment designed to inform IP strategy, enable IP decision-making, and streamline IP operations, tailored to each segment’s need. Today, nearly half of the top 100 U.S. patent filers and global brands, as well as a growing number of law firms worldwide use Anaqua’s solutions. Over one million IP executives, attorneys, paralegals, administrators, and innovators use the platform for their IP management needs. The company’s global operations are headquartered in Boston, with offices across the U.S., Europe, and Asia. For additional information, please visit anaqua.com, or on LinkedIn.

Company Contact:
Amanda Glagolev
Director, Communications
Anaqua
617-375-5808
aglagolev@anaqua.com

GlobeNewswire Distribution ID 8852728

SYDNEY, Australia, June 06, 2023 (GLOBE NEWSWIRE) — Ai-Media, the leader in technology-driven live captioning, transcription, and translation solutions, is excited to announce its presence at BroadcastAsia in Singapore, where it will unveil its ground-breaking LEXI 3.0 automatic captioning solution to the Asian market.

Previously launched to the North American market at NAB Show 2023, LEXI 3.0 is the new and improved version of Ai-Media’s flagship automatic captioning solution. Powered by AI, LEXI 3.0 is the world’s most accurate and advanced automatic captioning solution, delivering results that rival human captions at a fraction of the cost.

During the BroadcastAsia, Ai-Media will also showcase its comprehensive range of captioning technology that boasts seamless integration with LEXI 3.0. Among the featured products is the new LEXI Viewer, an innovative HD-SDI device that empowers event organizers to effortlessly enhance accessibility by streaming captions to in-venue displays.

Additionally, Ai-Media will highlight its range of captioning encoders that ensure high quality distribution of audio and video via its iCap Cloud Network, the world’s largest, most secure caption delivery network. This includes iCap Alta, the broadcast industry’s leading IP encoder that provides efficient virtualized workflows for MPEG-TS and SMPTE-2110. Ai-Media will also showcase iCap Encode Pro, the HD-SDI encoder trusted by major TV networks worldwide that offers low operational cost & low-latency display.

BroadcastAsia will take place from 7 to 9 June at the Singapore EXPO in Singapore. Attendees can meet the Ai-Media team and discover its range of end-to-end broadcast captioning solutions at booth 6C3-08 in Hall 6.

Ai-Media’s Chief Sales Officer, James Ward said:

We are excited to launch LEXI 3.0 to the APAC market. AI-powered technologies are creating operational efficiencies and cost savings across countless industries and with Lexi 3.0 it is no different. LEXI 3.0 consistently delivers over 98% accuracy, meets all global regulatory requirements, enables customers to increase their reach and has cost savings of around 80% versus human captioning. We’re also able to leverage our decades of broadcast experience to ensure our captioning solutions are interoperable across different workflows, video standards and regions.

About Ai-Media

Founded in Australia in 2003, technology company Ai-Media is a global leader in the provision of high-quality live and recorded captioning, transcription, and translation solutions. The company helps the world’s leading broadcasters, enterprises and government agencies ensure high accuracy, secure and cost-effective captioning via its AI-powered LEXI automatic captioning solution. LEXI captions are delivered to millions of screens worldwide via Ai-Media’s range of captioning encoders and its iCap Cloud Network – the world’s largest, most secure caption delivery network. Globally, Ai-Media delivers 8 million minutes of live and recorded media monthly. Ai-Media trades on the Australian Stock Exchange (AIM). For more information, please visit Ai-Media.tv.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6e38de26-79b3-4f7f-b87b-cbf1939dc24a

Media Contact:
Fiona Habben
Senior Marketing Manager – Global
Fiona.habben@ai-media.tv

GlobeNewswire Distribution ID 8852879

VANCOUVER, British Columbia, June 05, 2023 (GLOBE NEWSWIRE) — VERSES AI Inc. (CBOE CANADA:VERS) (OTCQX:VRSSF) (“VERSES” or the “Company”), a cognitive computing company specializing in the next generation of artificial intelligence (“AI”), announces the release in June 2023 of an AI industry report titled “THE ROAD TO AUTONOMY: A Path To Global AI Governance”.

The report combines the legislative expertise from Dentons, the world’s largest multinational law firm, and the AI acumen of VERSES with the guidance on technical standards from the Spatial Web Foundation to provide an in-depth analysis of the legal and key legislative trends from across the world on the state of AI regulation and recommendations for a path forward for government regulation of AI.

The report aspires to pioneer a fresh approach for legal practitioners, government regulators, and lawmakers, to keep pace with the rapid technological advancements and to guide their adaptation. The critical aspect of the report is to promote the adoption of standards for what VERSES considers “law as code.” The objective is to encode laws and legal principles into an understandable, machine-readable language that will facilitate the comprehension and autonomous compliance of AI systems with legal frameworks and social norms.

The report analyzes the unprecedented challenges presented by the emergence of AI and autonomous software, devices, and vehicles addressing fundamental questions like, “How can governments regulate AI systems that are on a path to regulating themselves? How can humans stay in the loop to ensure AI alignment with human values, principles, and laws, while guaranteeing fair and equitable services for all individuals and communities? And, how do we encode and enforce AI laws directly in AI systems themselves?

The report critically examines the transformative power of rapidly evolving technologies such as AI systems and their impending impact on legal, regulatory, and government sectors and accentuates the crucial need for developing and adopting standards that foster the understanding, governance, and interoperability of AI and autonomous systems. The report underscores the role of these technical standards in shaping dynamic and effective laws to regulate, oversee, and contemporize AI activities.

The goal of the report is to provide governments, regulators, and legislators with a pragmatic framework that not only informs but also provides a roadmap for policymaking, legislation, and compliance efforts in the field of AI. This is relevant to the flourishing autonomous vehicle industry, while also serving as a fundamental guide for all future AI-driven systems. Emphasizing the urgency of a globally unified, forward-thinking approach to AI governance, the report signals the vital need for standards development and deployment as the world navigates the pathway to Autonomous Intelligent Systems (“AIS”).

Significantly, the report points to the instrumental role of sociotechnical standards, as demonstrated by the work of the Institute of Electrical And Electronics Engineers IEEE P2874 Working Group. This initiative from the world’s largest association of technical professionals, underscores the importance of aligning AIS with human values and reducing the risk of harmful behavior.

The report also highlights the European Commission’s Flying Forward 2020 (“FF2020”) project for successfully implementing these standards. Led by VERSES and running on its KOSM platform, the FF2020 project featured autonomous AI-powered drones executing various tasks, such as medical supply delivery, building security inspection, and large crowd monitoring, all while adhering to local laws. The project exemplifies how the seamless integration of standards for AI with Urban Air Mobility and current legal and regulatory frameworks could improve the implementation of AI-powered services at city scale and beyond.

The report envisions the application of these standards to a host of sectors, including healthcare, education, finance, supply chain and more, paving the way for a smarter world with AI seamlessly operating behind the scenes.

“AI is advancing at an unprecedented pace, raising concerns about the direction of its future trajectory. As AI evolves towards autonomous systems, the need for regulation becomes critical. We must address the challenge of regulating self-regulating AI to ensure alignment with human values and prevent potential risks. By implementing global technical standards and establishing an international AI regulatory framework, we can harness the immense benefits of AI while safeguarding against its potential perils,” stated VERSES CEO, Gabriel René.

“We are thrilled to collaborate with VERSES on this report, as the challenge of regulating AI raises complex and often novel questions of law for our clients and regulators. We hope this report provides a new way of thinking about AI regulation, and provides important insights to key stakeholders who are wrestling with new AI regulatory frameworks and are trying to strike an appropriate balance between innovation and moderation,” said Peter Stockburger, Partner at Dentons US LLP.

In summary, the report calls for a safe, effective, and inclusive journey down the “Road to Autonomy,” ensuring that future AI systems are not just technically advanced but also aligned with the best interests of humanity, both now and in the future. With AI influencing every sector, this insightful report offers pragmatic recommendations for a more secure, innovative, and integrated AI-driven future. The full report will be available on the VERSES, DENTONS, and Spatialweb.org websites in June 2023, with the executive summary already available for preview.

About VERSES

VERSES is a cognitive computing company specializing in next-generation AI. Modeled after natural systems and the design principles of the human brain and the human experience, VERSES flagship offering, GIA, is an Intelligent Assistant for everyone powered by KOSMOS, a network operating system enabling distributed intelligence.  Built on open standards, KOSM transforms disparate data into knowledge models that foster trustworthy collaboration between humans, machines, and AI, across digital and physical domains. Imagine a smarter world that elevates human potential through innovations inspired by nature. Learn more at VERSES, LinkedIn, and Twitter.

About Dentons 
Dentons is designed to be different. As the world’s largest global law firm with 21,000 professionals in over 200 locations in more than 80 countries, Denton’s can help you grow, protect, operate and finance your business. Denton’s polycentric and purpose-driven approach, together with their commitment to inclusion, diversity, equity and ESG, ensures they challenge the status quo to stay focused on what matters most to you. www.dentons.com

About the Spatial Web Foundation 
The Spatial Web Foundation is a non-profit organization dedicated to the development and ethical use of technology, specifically in the creation and implementation of the Spatial Web protocol. The foundation’s core initiatives include developing open standards and protocols, promoting interoperability, and educating the public and policymakers. The foundation supports transparency and accountability in the development and use of technology, promotes responsible innovation, engages in dialogue and collaboration with various stakeholders, and adopts a proactive approach to addressing emerging ethical challenges. Ultimately, the Spatial Web Foundation seeks to create a more inclusive, accessible, and equitable internet that empowers individuals and communities to connect, create, and thrive.

On Behalf of the Company 

Gabriel René
VERSES Technologies Inc.
Co-Founder & CEO
press@verses.io

Media and Investor Relations Inquiries 

Leo Karabelas
Focus Communications
President
info@fcir.ca
416-543-3120

The NEO has not reviewed or approved this press release for the adequacy or accuracy of its contents.

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/1df22be2-a8db-4ce3-8217-05fbc905429f

GlobeNewswire Distribution ID 8852483

• NRx Pharmaceuticals, Lotus Pharmaceuticals, and Alvogen to collaborate on the further development and commercialization of NRX-101 for suicidal treatment-resistant bipolar depression (S-TRBD) for global markets
• Lotus Pharmaceuticals will acquire worldwide rights for NRX-101 for S-TRBD and will be responsible for commercialization of NRX-101 in markets outside the US through Lotus’s direct presence in certain Asian markets or through their export division, which currently has partnerships in numerous markets, including in Europe, Japan, China, Australia and Latin America
  
• Alvogen, through its CNS focused Almatica^® division, will be responsible for U.S. commercialization of NRX-101
• NRx will be eligible to receive up to $330 million in milestone payments tied to development progress and sales targets as well as tiered double-digit escalating to the mid-teens royalty payments contingent upon certain sales thresholds in the U.S. and a fixed royalty payment for markets outside the U.S.
• Agreement includes a right of first negotiation for new indications outside of the field of bipolar depression with suicidality for NRX-101 and/or potential new products containing D-cycloserine in combination with an antidepressant / antipsychotic

RADNOR, Pa. and MORRISTOWN, N.J. and TAIPEI, Taiwan, June 05, 2023 (GLOBE NEWSWIRE) — Lotus Pharmaceuticals (1795:TT; “Lotus”), a multinational pharmaceutical company, Alvogen, a privately owned U.S. based pharmaceuticals company, and NRx Pharmaceuticals Inc. (Nasdaq: NRXP) (“NRx Pharmaceuticals or NRx”), a clinical stage biopharmaceutical company, today announced a global collaboration agreement covering the development and commercialization of NRX-101 for suicidal treatment-resistant bipolar depression (S-TRBD) for global markets.

Under the terms of the agreement, relating to NRX-101 for the U.S. market, NRx is entitled to receive an initial payment of $10 million upon achieving both a successful read-out from the ongoing Phase 2b/3 clinical trial in S-TRB and completion of a Type B meeting with the U.S. Food and Drug Administration (FDA). NRx would receive an additional payment of $5 million upon receipt of FDA approval for NRX-101 as well as bonus milestone payments of increasing amounts up to $330 million based on reaching certain net sales targets. In addition to success-based payments, NRx is eligible to receive a royalty on net sales between 12% and 16% contingent on certain sales thresholds for the U.S. market and other success-based payments for markets outside of the U.S.

Lotus will acquire worldwide rights for NRX-101 for treatment of S-TRBD and will be responsible for commercialization of NRX-101 in markets outside of the U.S. through their direct commercial presence in certain Asian markets or through Lotus’s export division where the company currently markets an extensive portfolio of products through top-tier partners. Lotus will partner with Alvogen, a longstanding partner for Lotus in the U.S., to commercialize NRX-101 for treatment of S-TRBD in the U.S. market through Alvogen’s Almatica label. Almatica is the CNS-focused division of Alvogen that currently markets six branded products. Alvogen and Lotus have committed to fund the next registrational study in suicidal treatment-resistant bipolar depression to support approval of NRX-101 contingent upon successful results of the ongoing Phase 2b/3 clinical trial and completion of a Type B meeting with the FDA. Lotus and Alvogen will have a right of first negotiation for new indications outside of the field of bipolar depression with suicidality for NRX-101 and/or potential new products containing D-cycloserine in combination with an antidepressant / antipsychotic.

Stephan Willard, J.D., Chief Executive Officer of NRx, commented, “This collaboration can accelerate the delivery of NRX-101 to patients grappling with suicidal bipolar depression who desperately need better treatment alternatives. With our current resources we believe we can fund our operations until the expected Phase 2b/3 trial data. This global partnership significantly minimizes the need for future capital raises for NRX-101 development and commercialization. Alvogen and Lotus, with their CNS expertise and global operational capabilities, are ideal partners for this and possibly other NRx programs.”

Lisa Graver, Chief Executive Officer of Alvogen, commented, “A medication that improves depression in bipolar patients with elevated risk of suicide would represent a significant improvement in treatment, and we view the Phase 2 STABIL-B data of NRX-101 as promising to that effect. This agreement is congruent with our strategy of developing branded CNS products with clear differentiation and patient benefit while leveraging our proven commercialization capabilities under our Almatica brand. NRX-101 provides an excellent addition to our growing CNS pipeline.”

Petar Vazharov, Chief Executive Officer of Lotus, commented, “This is an exciting transaction for Lotus. Over much of the last decade, Lotus has been able to transition itself from a domestic generics Taiwanese company into a global pharma company that exports its intellectual property all over the world through either our direct presence across Asia or through our export business that includes the U.S., Japan, China, Latin America and Europe. The addition of NRX-101 to our pipeline is completely in-line with our strategic objective to drive heightened innovation that addresses significant unmet medical needs.”

An estimated seven million people are living with bipolar depression in the U.S. alone¹. The risk of suicide within the group is very high, with data indicating that 50% or more of these patients will attempt suicide in their lifetime². There are currently no medications specifically approved for people with bipolar depression and elevated levels of suicidality. NRX-101 is the first investigational medication to be specifically studied in this vulnerable patient population. Proof-of-concept data from the Phase 2 STABIL clinical trial, in which patients with bipolar depression and acute suicidality were randomized to NRX-101 or lurasidone after stabilization with one infusion of ketamine, showed a statistically significant benefit of NRX-101 vs lurasidone. Based on these data, the U.S. FDA granted Breakthrough Therapy Designation (BTD) and a Special Protocol Assessment (SPA) for NRX-101 in bipolar depression with acute suicidality.

NRx Pharma recently announced that it has upgraded and expanded its ongoing Phase 2 randomized, controlled clinical trial in bipolar depression with sub-acute suicidality to a registrational Phase 2b/3 clinical trial.   Results from the ongoing Phase 2b/3 clinical trial are expected by year-end 2023. NRx will be hosting a conference call to discuss in greater detail the impact of the transaction.

About NRX-101

Up to 50% of individuals with bipolar disorder attempt suicide over their lifetime, and estimates indicate that up to 20% may succumb to suicide³. The only FDA-approved treatment for patients with treatment-resistant suicidal bipolar depression remains electroconvulsive therapy.

Conventional antidepressants can increase the risk of suicide in certain patients; hence their labels contain a warning to that effect. NRX-101 is a patented, oral, fixed dose combination of D-cycloserine and lurasidone, neither of which has shown addiction potential in preclinical models. Based on the results of a Phase 2 proof-of-concept study, NRX-101 received Breakthrough Therapy Designation from the FDA for the treatment of severe bipolar depression in patients with Acute Suicidal Ideation & Behavior (ASIB) after initial stabilization with ketamine or other effective therapy.

NRX-101 is one of the first oral antidepressants currently in late-stage clinical studies targeting the NMDA-receptor in the brain, which represents potentially a key new mechanism to treat depression with and without suicidality, as well as PTSD and other indications. To date, NRX-101 is the only oral NMDA investigational medicine focused on bipolar depression in patients with acute and sub-acute suicidality.

About NRx Pharmaceuticals

NRx Pharmaceuticals is a clinical-stage biopharmaceutical company developing therapeutics for the treatment of central nervous system disorders, specifically bipolar depression with suicidality and post-traumatic stress disorder (PTSD). The company’s lead program NRX-101, an oral, fixed-dose combination of D-cycloserine and lurasidone, targets the brain’s N-methyl-D-aspartate (NMDA) receptor and is being investigated in a Phase 2b/3 clinical trial for Suicidal Treatment-Resistant Bipolar Depression, which includes patients with both acute and sub-acute suicidality, an indication for which the only approved treatment is electroshock therapy. The company’s prior Phase 2 STABIL-B clinical trial evaluating NRX-101 in patients with Severe Bipolar Depression with Acute Suicidal Ideation & Behavior (ASIB) demonstrated a substantial improvement over available therapy in reducing depression and suicidality compared to placebo when patients were treated with NRX-101 after a single dose of ketamine. Based on the findings from the STABIL-B trial, the U.S. Food and Drug Administration (FDA) granted a Special Protocol Agreement and Breakthrough Therapy Designation for NRX-101 in patients with Severe Bipolar Depression with ASIB.

About Alvogen and Almatica

Alvogen is a privately held pharmaceutical company focused on developing, manufacturing and selling generic and branded products for the US market. The company has a diverse portfolio and pipeline that includes both branded and generic products across various administration forms. The Alvogen-family of companies includes Alvogen US (Generics), Almatica (Brands) and Almaject (Injectables).

Almatica Pharma LLC is a wholly owned subsidiary of Alvogen, Inc. and is a U.S. pharmaceutical company focused on the development, acquisition and commercialization of branded pharmaceutical products. Its current product portfolio covers a range of therapeutic areas, but promotional focus is on central nervous system disorders and conditions.

About Lotus

Founded in 1966, Lotus (1795: TT) is an international pharmaceutical company with global presence, focused on commercializing novel and generic pharmaceuticals, offering patients better, safe and more accessible medicines. The Company has a recognized best-in-class R&D and manufacturing platform in Asia and has established partnerships in nearly every global market including the U.S., Europe, Japan, China, and Brazil. Lotus runs over 100 strategically selected pharmaceutical projects in development and registrations across Asia and the US, with over 250 commercial products. The Company invests in diversified best portfolio consisting of high-barrier oncology, complex generics as well as 505(b)2 and NCE via internal R&D investment and licensing-in partnership, and also strengthens its portfolio competitiveness by adding biosimilar products with support from strategic partners. Its industry-leading infrastructure certified by most of the advanced regulatory authorities around the world, including US FDA, EU EMA, Japan PMDA, China FDA, and Brazil ANVISA.

¹Merikangas, K., et al.(2007). Lifetime and 12-Month Prevalence of Bipolar Spectrum Disorder in the National Comorbidity Survey Replication. Arch Gen Psychiatry, 64:543-552

²Pallaskorpi, et al. Incidence and Predictors of suicide attempts in bipolar I and II disorder: A 5-year follow-up study, Bipolar Disorders, 2016

³Psychiatric Times; Suicide Attempts and Completions in Patients with Bipolar Disorder

NRX Cautionary Note Regarding Forward-Looking Statements

This announcement of NRx Pharmaceuticals, Inc. includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995, which may include, but are not limited to, statements regarding our financial outlook, product development, business prospects, and market and industry trends and conditions, as well as the Company’s strategies, plans, objectives, and goals. These forward-looking statements are based on current beliefs, expectations, estimates, forecasts, and projections of, as well as assumptions made by, and information currently available to, the Company’s management.

The Company assumes no obligation to revise any forward-looking statement, whether as a result of new information, future events or otherwise. Accordingly, you should not place reliance on any forward-looking statement, and all forward-looking statements are herein qualified by reference to the cautionary statements set forth above.

Lotus Cautionary Note Regarding Forward-Looking Statements

Except for historical information contained herein, the matters set forth in this document are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. These forward-looking statements are not based on historical facts but rather on management’s expectations regarding future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities. Statements in this presentation about our future plans and intentions, results, level of activities, performance, goals or achievements or other future events constitute forward looking statements. Wherever possible, words such as “anticipate”, “believe”, “expect”, “may”, “could”, “will”, “potential”, “intend”, “estimate”, “should”, “plan”, “predict”, or the negative or other variations of statements reflect management’s current beliefs and assumptions and are based on the information currently available to our management. Investors are cautioned not to place undue reliance on these forward-looking statements, which are made as of the date of this document and we assume no obligation to update or revise any forward-looking statements.

Lotus Contacts:

INVESTOR AND MEDIA RELATIONS
Susan Liao, Head of Investor Relations
+886 2 2700 5908
investor@lotuspharm.com

NRX Contacts:

CORPORATE CONTACT
Matthew Duffy
Chief Business Officer
mduffy@nrxpharma.com

INVESTOR RELATIONS
Suzanne Messere
Investor Relations
suzanne.messere@sternir.com

Alvogen Contacts:

Andrea Sweet
andrea.sweet@alvogen.com

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