Connect with us

News

Bombardier receives order as Siemens’ partner and supplier in the expansion of Deutsche Bahn’s ICE 4 fleet

gbafNews28
  • Bombardier’s supply share is around one third of Deutsche Bahn’s order of 18 7-car trains and 50 rail cars

BERLIN, Oct. 04, 2018 —

Note to editors: To view the photo associated with this press release, please visit the following link:

https://www.globenewswire.com/NewsRoom/AttachmentNg/0c88f5f2-a439-4132-8e1e-27264acf1f73

https://www.globenewswire.com/NewsRoom/AttachmentNg/26b7d7d8-29af-44f1-b7d3-ea307a77c6ac

Global mobility solution provider Bombardier Transportation will continue to make an important contribution to the expansion of Deutsche Bahn’s ICE 4 fleet as a Siemens’ partner and supplier. At the end of September, Bombardier signed a contract with Siemens for further cooperation as a supplier for Deutsche Bahn’s new order for 18 7-car ICE 4 trains and 50 powered cars. The contract is valued at approximately 198 million euro ($229 million US). Bombardier’s scope represents around one third of the overall project.

The new order is part of a framework agreement for the development and supply of key components for up to 300 ICE 4 high-speed trains for Deutsche Bahn, which was signed with Siemens in 2011. Bombardier is responsible for the exterior design, the production and design of the steel car bodies, the delivery of the trailer bogies and around 30 percent of the final assembly of the entire ICE 4 fleet.

“The ICE 4 is the flagship of Deutsche Bahn and a perfect example of modern rail transport. We are proud to be part of this prestigious project,” said Laurent Troger, President of Bombardier Transportation. “The aim is to jointly provide the right mobility solutions for safe, comfortable and efficient long-distance transport in Germany. Our innovative high-technology components and our manufacturing expertise make an important contribution to the success of this project.”

About Bombardier Transportation Bombardier Transportation is a global mobility solution provider leading the way with the rail industry’s broadest portfolio. It covers the full spectrum of solutions, ranging from trains to sub-systems and signalling to complete turnkey transport systems, e-mobility technology and data-driven maintenance services. Combining technology and performance with empathy, Bombardier Transportation continuously breaks new ground in sustainable mobility by providing integrated solutions that create substantial benefits for operators, passengers and the environment. Headquartered in Berlin, Germany, Bombardier Transportation employs around 39,850 people and its products and services operate in over 60 countries.

About Bombardier With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety. Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2017, Bombardier posted revenues of $16.2 billion US. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to editors For news, related material and photos, visit our newsroom at www.rail.bombardier.com/en/newsroom.html. Please subscribe to our RSS Feed to receive press releases or follow Bombardier Transportation on Twitter @BombardierRail. Bombardier is a trademark of Bombardier Inc. or its subsidiaries. For information

Media relations, Germany Andreas Dienemann +49 3302 89 4260 [email protected]  Global media relations +49 30 98607 1687 [email protected]

You can also contact one of our worldwide contacts for specific press inquiries.

Primary Logo

Bombardier receives order as Siemens’ partner for Deutsche Bahn’s ICE 4

Bombardier receives order as Siemens’ partner and supplier in the expansion of Deutsche Bahn’s ICE 4 fleet
Bombardier’s scope represents around one third of the project

Bombardier’s scope represents around one third of the entire project.

News

Morningside Venture Capital Becomes 5Y Capital

gbafNews28

SHANGHAI, Oct. 28, 2020 /PRNewswire/ — The leading investment firm Morningside Venture Capital is pleased to announce that it has changed its name to 5Y Capital. 

Morningside Venture Capital ("MSVC") was started in 2008 during the financial crisis by Richard Liu, Ken Shi and Gerald Chan under the auspices of Morningside Group. Prior to its founding, Richard and Ken worked as investment professionals at Morningside Group, a private investment group founded by the Chan family of Hong Kong. When they spun off the MSVC operation from the family office and set up the Morningside TMT funds, Morningside Group became the anchor investor. As a gesture of support, Morningside Group authorized them to use the "Morningside" brand in its operations. Over the past 12 years, MSVC has grown into an organization with over 35 members of staff. In October 2020, the MSVC operation was renamed as 5Y Capital reflecting the firm’s growth and the vast array of opportunities it can provide. Morningside Group remains one of 5Y Capital’s most important investors. "The Chan family has led us all the way into the industry. Dr. Gerald Chan, co-founder of Morningside Group, taught us great values such as integrity, independent thinking, etc., which had a profound impact on us," remarked Richard and Ken.

The new name "5Y" is a combination of the number 5 in the Chinese name of "Wuyuan Road" (wu means 5 in Chinese) and the first letter of yuan. Wuyuan Road is a beautiful one-way street in Shanghai. This is where the team has been headquartered from the very beginning. The new name reflects the firm’s commitment that wherever it is heading, it has and will always stay true to itself, its friends, and its business partners. 

It is not just a name change but more an evolution of its investment strategies. "5Y Capital was co-founded by our team. I hope that with our constantly evolving team and investment methodology, we will be able to partner with more and more great entrepreneurs, help them tap into their unique advantages and achieve greatness," said Richard.

Along with the name change, 5Y Capital has updated its corporate identity including changes to its website found at www.5ycap.com/en/. Effective immediately, all business activities will be undertaken using the new name.

About 5Y Capital

5Y Capital (formerly known as Morningside Venture Capital), founded in 2008, is a leading investment firm that currently manages approximately USD 3bn in dual-currency funds in USD and RMB. 5Y has provided multi-stage investments to a wide range of successful business founders, including Joyy (NASDAQ: YY), Xiaomi Corporation (HK: 01810), Kuaishou, Kingsoft Office (SH: 688111), Agora (NASDAQ: API), Xpeng Motors (NYSE: XPEV) and Pony.ai.

Related Links :

http://www.5ycap.com/en/

Continue Reading

News

Gracell Biotechnologies Raises $100 Million in Series C Funding to Advance Next Generation CAR-T Cell Therapies

gbafNews28

SHANGHAI and SUZHOU, China, Oct. 28, 2020 /PRNewswire/ — Gracell Biotechnologies Inc. ("Gracell"), a global clinical-stage biopharmaceutical company dedicated to developing highly efficacious and affordable cell therapies for the treatment of cancer, today announced it has secured $100 million in Series C funding. The round is led by Wellington Management Company, OrbiMed and Morningside Ventures, and joined by new investor Vivo Capital. Existing investors Temasek Holdings, Lilly Asia Ventures, OrbiMed and King Star Med LP are also participating.

"We are very pleased to expand our investor base with support from a high caliber consortium," said Dr. William Wei Cao, founder, Chairman, and CEO of Gracell, "Our passion is to bring transformative CAR-T cell therapies to a broader group of patients by developing products that are efficacious and can be made widely available."

Gracell was founded in 2017 with the mission to overcome the major industry challenges that persist for both autologous and allogeneic CAR-T cell therapy approaches. Gracell has developed two pioneering platforms—FasTCAR and TruUCAR. With FasTCAR, Gracell is able to deliver younger, less exhausted T cells for autologous cell therapies with greater potency and next-day manufacturing (22 to 36 hours). With TruUCAR, Gracell is able to derive T cells from non-HLA-matched healthy donors to generate allogeneic CAR-T cell therapies that are readily available off-the-shelf at lower cost for a broad patient base.

Leveraging its FasTCAR and TruUCAR platforms, Gracell is developing a pipeline of autologous and allogeneic cell therapy candidates with the potential to treat both hematologic malignancies and solid tumors. Currently, Gracell’s lead FasTCAR autologous product candidate, GC012F, is being studied in an ongoing investigator-initiated Phase 1 trial in China for the treatment of relapsed or refractory multiple myeloma (r/r MM). Its lead TruUCAR allogeneic product candidate, GC027, is being studied in an ongoing investigator-initiated Phase 1 trial in China for the treatment of relapsed or refractory T cell acute lymphoblastic leukemia (r/r T-ALL).

Proceeds from the round will be used to fund internal research and development and further advance current clinical programs. Jefferies and Cooley advised in the transaction.

About Gracell

Gracell Biotechnologies Inc. ("Gracell") is a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies. Leveraging its pioneering FasTCAR and TruUCAR technology platforms, Gracell is developing a rich clinical-stage pipeline of multiple autologous and allogeneic product candidates with the potential to overcome major industry challenges that persist with conventional CAR-T therapies, including lengthy manufacturing time, suboptimal production quality, high therapy cost and lack of effective CAR-T therapies for solid tumors.

CONTACT:

Kevin Xie
CFO
[email protected]

Claire McCardell
Investor Relations
[email protected]

Linc He 
Business Development and Public Relations
[email protected]
+86-21-6403-1375

Related Links :

http://www.gracellbio.com

Continue Reading

News

Reditus, Korean “untact” e-finance transaction platform, launched a mobile App to contact anywhere.

gbafNews28

– Presenting a suitable daily life e-finance platform amid the COVID-19 crisis.

SEOUL, South Korea, Oct. 28, 2020 /PRNewswire/ — The Korean e-finance transaction platform, Reditus (CEO, Gilmo Jang) has launched a mobile App for open banking to contact anywhere, anytime.

Mobile e-finance transaction platform, Reditus
Mobile e-finance transaction platform, Reditus

Regarding the continuous spread of COVID-19, change has come to financial platforms. Reditus has developed a Receivables Management System (RMS), which provides 400 different types of everyday life contracts, including an e-finance promissory note, employment contract and rental contract. Reditus also supports banking services and contract protection services considering the new global trend due to the coronavirus such as an untact consumption and a non-face-to-face financial transaction paradigm. With the extended customer base related to COVID-19, electronic contract cases on the Reditus platform based on the e-finance promissory note exceeded 1,500 cases.

Daily life financial integration platforms provided by Reditus are divided into different sections such as E-Contract, Banking and Contract Protection. The e-contract is a smart contract type without paper documents, which is appreciated as a non-face-to-face solution.

Reditus offers an e-finance promissory note as well as 400 different types of contracts including a credit transaction contract and employment contract. All formats can be customized following the user’s requests.

The banking service is a non-face-to-face service mainly for managing contract fulfillment such as remittance, transfer and notice. When a contract is authorized, a virtual receivable account will be created, and the contractors can freely remit and transfer to each other through the account. When the contractors acknowledge their money transactions through the banking service, not only the e-finance promissory note will be issued, but also bond management solutions will be provided without any charge such as a fixed date for the legal acknowledgment of the commencement of the transaction and free receivable collection service.

An CEO, Gilmo Jang said, "Reditus is based on the specialized RMS and offers low commission fee and collection expense with advanced security for safe daily e-finance. Our customer base is expected to grow as COVID-19 continues."

Those who want to write an e-finance promissory note on the Reditus app can download the app on Google Play and App Store and start to use it after a simple verification process.

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
gbafNews28 gbafNews28
News5 mins ago

Reditus, Korean “untact” e-finance transaction platform, launched a mobile App to contact anywhere.

– Presenting a suitable daily life e-finance platform amid the COVID-19 crisis. SEOUL, South Korea, Oct. 28, 2020 /PRNewswire/ —...

gbafNews28 gbafNews28
News5 mins ago

Gracell Biotechnologies Raises $100 Million in Series C Funding to Advance Next Generation CAR-T Cell Therapies

SHANGHAI and SUZHOU, China, Oct. 28, 2020 /PRNewswire/ — Gracell Biotechnologies Inc. ("Gracell"), a global clinical-stage biopharmaceutical company dedicated to...

gbafNews28 gbafNews28
News5 mins ago

Morningside Venture Capital Becomes 5Y Capital

SHANGHAI, Oct. 28, 2020 /PRNewswire/ — The leading investment firm Morningside Venture Capital is pleased to announce that it has...

gbafNews28 gbafNews28
News25 mins ago

AM Best Affirms Issue Credit Rating of Northwind Holdings, LLC

AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of a on the $800 million Floating Rate Insured...

gbafNews28 gbafNews28
News26 mins ago

Calix Helps Marketers at Even the Smallest Service Providers Launch World-Class Marketing Campaigns and Subscriber Experiences to Defeat the Consumer Giants

Today at ConneXions 2020, Calix, Inc. (NYSE: CALX) announced enhancements to the Calix Marketing Cloud (CMC), the CommandIQ„¢ mobile application...

gbafNews28 gbafNews28
News27 mins ago

AM Best Affirms Credit Ratings of American Financial Group, Inc. and Most of Its Insurance Subsidiaries; Upgrades Credit Ratings of Key Life and Workers’ Compensation Entities

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR)...

gbafNews28 gbafNews28
News31 mins ago

SureView Launches Field Operations, Transforming Event Response for SOCs

Today, SureView, the leading developer of software that improves the ability of security command centers to manage and respond to...

gbafNews28 gbafNews28
News37 mins ago

TEGNA Announces Quarterly Dividend

TEGNA Inc.s (NYSE: TGNA) Board of Directors today declared a dividend of seven cents per share, payable on January 4,...

gbafNews28 gbafNews28
News38 mins ago

ABEC To Deliver Industry’s First 6,000 Liter Single-Use Bioreactor to BioInno Bioscience

ABEC, a global provider of integrated solutions and services for biopharmaceutical manufacturing, today announced it will be providing CSR single-use...

gbafNews28 gbafNews28
News39 mins ago

South State Appoints First Director of Corporate Stewardship

South State today announced it has appointed LeDon Jones its first director of Corporate Stewardship. Banks have long served as...