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Phoenix PharmaLabs Raises More Than $1.1 Million via Netcapital

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Phoenix PharmaLabs, Inc. (https://phoenixpharmalabs.com), a private company developing what is believed to be the worlds first non-addictive opioid for treatment of moderate to severe pain, today announced a successful equity offering of more than $1.1 million via Netcapital (https://netcapital.com), an SEC-approved equity funding portal. A combination of accredited and non-accredited investors participated in the offering, which commenced October 11, 2018 and closed March 30, 2019.

This very positive response to our offering, coupled with a $2.7 million grant awarded by the US Army last year, enables Phoenix to accelerate completion of our preclinical studies and scale-up of manufacturing of PPL-103. As a result, we anticipate filing an Investigational Drug Application (IND) with the FDA within approximately 15 months. When approved it will enable us to enter Phase I human clinical trials, said William Crossman, president and CEO of Phoenix PharmaLabs.

Jackson Stone, Director of Business Development from Netcapital, commented, The success of Phoenix PharmaLabs offering demonstrates the significant interest among the investing public in finding solutions to real world problems, such as combating the opioid crisis. Many Phoenix investors included physicians, nurses and pharmacists who appear to understand the pharmacological need for safe, non-addictive analgesics as well as individuals who have personally been affected by the devastation of the opioid crisis. Phoenix is the first offering on the Netcapital portal to fully max out their yearly Section 4(a)(6) allocation of $1.07M to non-accredited investors, which further illustrates the phenomenal success of the Phoenix asset and team in this offering.

Crossman said the company will soon commence Non-Human Primate (NHP) studies (which will include efficacy studies as well as further studies of abuse/addiction potential). Earlier in vivo studies have all indicated that PPL-103 performs exceptionally well and appears to be safe and non-addicting, with none of the side effects normally associated with opioids. Previous self-administration studies in rats have demonstrated that PPL-103 is non-addictive and those studies correlate very closely to equivalent studies in humans.

PPL-103, a partial-agonist targeting all three pain receptors in the brain (mu, kappa and delta), has been under development for more than a decade. All opioids on the market today bind to the mu receptor in the brain and then aggressively stimulate that receptor. The mu receptor produces euphoria that leads to abuse and addiction. PPL-103 is an analog that binds strongly to all three opioid receptors in the brain and then just partially stimulates each of those receptors in a more balanced manner. This partial simulation derives potent analgesic benefit from all three receptors but is not sufficiently strong to produce the serious opioid side-effects associated with any single receptor. This results in the first-ever opiate analgesic that appears to be non-addicting and free of all dangerous side effects.

In published and unpublished in vivo studies, it has been demonstrated that PPL-103 is:

  • An orally active potent pain killer (10x more potent than morphine)
  • Does not cause death from overdose (even when given 350x the analgesic dose)
  • Does not cause physical dependence or withdrawal
  • Does not cause constipation (even at 100x dose)
  • Has demonstrated potential as an opioid addiction therapy drug that could replace currently used treatments that are themselves addictive opioids.
  • Has demonstrated in early trials the potential as a treatment for cocaine addiction.

Netcapital is a private securities platform that makes capital markets work for real people. The portal connects investors to entrepreneurs to help private companies grow. Netcapital enables companies to raise capital by selling common stock to investors, thereby empowering emerging companies to raise capital through investment opportunities to the public. The Netcapital funding portal is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association, as required by SEC rules.

In this press release, Netcapital refers to Netcapital.com, a website operated by Netcapital Systems, LLC, which is neither a funding portal nor a broker-dealer. Sections of the web site are operated by Netcapital Funding Portal, Inc., which conducts all 4(a)(6) offerings as a funding portal registered with the United States Securities and Exchange Commission (SEC) and as a member of the Financial Industry Regulatory Authority (FINRA). Sections of the web site are operated by Livingston Securities, LLC, which conducts all 506(c) offerings as a broker-dealer registered with the SEC and as a member of the Financial Industry Regulatory Authority. None of these companies provide investment advice or make investment recommendations; nothing shared in this press release nor posted to the web site should be construed as such.

Phoenix PharmaLabs is a preclinical drug discovery company focused on the development and commercialization of new potent, non-addictive treatments for pain and new therapies for the treatment of addiction.

Bev Jedynak
[email protected]
312-943-1123
773-350-5793
(cell)

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China Natural Resources, Inc. Appoints Zou Yu as Vice President

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HONG KONG, Oct. 22, 2020 /PRNewswire/ — China Natural Resources, Inc. (NASDAQ: CHNR) (the "Company") announced today that Zou Yu has been appointed as a Vice President of the Company, such appointment effective as of October 22, 2020.

From March 2015 to September 2020, Mr. Zou served as the general manager of the investment management center of Feishang Enterprise Group Company Limited, where he was responsible for mergers and acquisitions in the healthcare sector involving projects aggregating approximately 800 million Chinese Yuan. From May 2011 to May 2014, he served as assistant to the chairman and the head of the business development department of Shanghai American-Sino Medical Group, where he was in charge of the investment in and operation of premier private hospitals. Mr. Zou has also worked with several private equity funds.  Mr. Zou has more than 10 years of experience working and investing in the healthcare sector, and has participated in projects involving acquisitions, mergers and divestments with an aggregate value exceeding three billion Chinese Yuan. Mr. Zou graduated from Sun Yat-Sen University in June 2007, with a Master of Business Administration degree. He also holds a Bachelor’s degree in Economics from the Tianjin University of Commerce.

"We are delighted to welcome Zou Yu to our team. Mr. Zou’s extensive experience working in the healthcare sector of the PRC will provide us with a seasoned guide and steady hand as we explore exciting new opportunities for the Company, as well as deep insight into and knowledge of the market," said Mr. Wong Wah On Edward, the Company’s Chairman.

About China Natural Resources:

China Natural Resources, Inc., a British Virgin Islands corporation, through its operating subsidiaries in the PRC, is currently engaged in (a) the acquisition and exploitation of mining rights in Inner Mongolia, including preliminary exploration for lead, silver and other nonferrous metal, and (b) copper trading in the PRC, and is actively exploring business opportunities in the healthcare and other non-natural resources sectors.

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of the U.S. federal securities laws.  These statements include, without limitation, statements regarding the intent, belief and current expectations of the Company, its directors or its officers with respect to: the potential presented by the healthcare sector in the PRC; the impact on the Company’s financial position of an investment in the healthcare sector of the PRC; and its ability to locate and execute on strategic opportunities. Forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statement as a result of various factors. Among the risks and uncertainties that could cause the Company’s actual results to differ from its forward-looking statements are: the potential lack of appetite for the Company’s current holdings as consideration for a transaction in the healthcare sector; possible downturns in the healthcare sector in the PRC or other sectors that the Company may invest in; the results of the next assessment by the Staff of the Nasdaq Listing Qualifications department of the Company’s compliance with the Nasdaq Listing Rules; uncertainties related to governmental, economic and political circumstances in the PRC; uncertainties related to metal price volatility; uncertainties related to the Company’s ability to fund operations; uncertainties related to possible future increases in operating expenses, including costs of labor and materials; uncertainties related to the impact of the COVID-19 pandemic; uncertainties related to the political situation between the PRC and the United States, and potential negative impacts on companies with operations in the PRC that are listed on exchanges in the United States; and other risks detailed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. When, in any forward-looking statement, the Company, or its management, expresses an expectation or belief as to future results, that expectation or belief is expressed in good faith and is believed to have a reasonable basis, but there can be no assurance that the stated expectation or belief will result or be achieved or accomplished. Except as required by law, the Company undertakes no obligation to update any forward-looking statements.

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ATIF Holdings Limited Signs Strategic Collaboration with Shenzhen Big Data Association, Strives to Incubate High-Growth Pre-IPO Enterprises to Facilitate Strong Development of Big Data Industry

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SHENZHEN, China, Oct. 22, 2020 /PRNewswire/ — ATIF Holdings Limited (Nasdaq: ATIF, the "Company"), a company providing business consulting and multimedia services in Asia, today announced that through its viable interest entity, Qianhai Asia Times (Shenzhen) International Finance Services Co. Ltd., on October 13, 2020 it signed a strategic collaboration agreement with Shenzhen Big Data Research and Development Association ("Shenzhen Big Data Association") for its online financial and consulting service platform IPOEX.com ("IPOEX"), targeting at nationwide high-tech enterprises.

Based on the strategic collaboration, Shenzhen Big Data Association will make fullest use of its leadership, deep government connections and strong industry consolidation expertise to offer an important portal for IPOEX to recruit high-tech companies with high growth potential to become members of IPOEX. The two parties plan to hold seminars and conferences across China to provide online and offline consulting for these enterprises in equity financing, business incubating and IPO consulting services etc.

Mr. Chunlei Zhao, Executive President of Shenzhen Big Data Association, commented: "We look forward to working with ATIF. Our mission is to build a resourceful platform that integrates market information, consulting, technology research and related services. Whereas IPOEX houses one of the most comprehensive investment institution database in China, supported by a professional team that provides corporate consulting, multi-faceted media and equity financing matchmaking services. We are confident our collaboration will expose high-growth companies to financing resources in the capital market and promote the fast development of big data industry."

Following the three IPOEX cooperation signed last month, the Company announced its collaboration with Shenzhen Big Data Association. The association is one the few institutions that focuses on vertical sectors, national market resources, and maintains good relations with local governments and high-tech companies in China. The Company believes the collaboration will help to better prepare Chinese companies across the country to gain access to the capital market and achieve success both in business development and their enterprise values in the public market.

About Shenzhen Big Data Research and Development Association

Shenzhen Big Data Association was set up in 2015, and is one of the only two big data associations in Shenzhen and has subsidiary offices in 14 Chinese cities such as Shanghai, Hong Kong, Qingdao and Dongguan. It provides services nationwide that covers municipal cities and 12 provinces. Currently it has over 1,000 high-tech corporate members. The association is jointly run by professional managers and provides services in market resources consolidation and promotion, big data, technology R&D and review, copyright patent, enterprise development consulting, industrial favorable policies introduction and fundraising etc. It also works closely with local governments and big data platforms in China to build up an all-compassing "big data + digital economy" ecosystem for resource sharing and distribution. For more information, please visit: www.bd2015.org/.

About ATIF Holdings Limited

Headquartered in Shenzhen, China, ATIF Holdings Limited ("ATIF") is a company providing business consulting services to small and medium-sized enterprises in Asia, including going public consulting services, international business planning and consulting services, and financial media services. ATIF operates an internet-based financial consulting service platform IPOEX.com, which provides prestige membership services including online capital market information, pre-IPO education and matchmaking services between SMEs and financing institutions. ATIF has advised several enterprises in China in their plans to become publicly listed in the U.S. Through its majority-owned subsidiary, Leaping Group Co., Ltd., ATIF also provides multimedia services and is engaged in three major businesses, including multi-channel advertising, event planning and execution, film and TV program production and movie theater operations. ATIF operates the largest pre-movie advertising network in Heilongjiang Province and Liaoning Province of China and also provides advertising services in elevators and supermarkets. ATIF is often hired to plan both online and offline advertising campaigns and to produce related advertising material. In addition, ATIF invests in films and TV programs and distributes them in movie theaters or through online platforms. ATIF is also one of majority shareholders of AeroCentury Corp. (NYSE American: ACY) which is an independent global aircraft operating lessor and finance company specializing in leasing regional jet and turboprop aircraft and related engines to airlines and commercial users worldwide. For more information, please visit https://ir.atifchina.com/.

Forward-Looking Statements

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantee of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to continue to operate through our VIE structure; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new clients and further enhance brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial consulting services industry; a pandemic or epidemic; and other factors listed in the Company’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.

Related Links :

https://ir.atifchina.com/

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Yuanfudao Raises US$2.2 Billion in New Financing, Valuing the Company at US$15.5 Billion, Becoming the Most Valued Ed-Tech Company Worldwide

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BEIJING, Oct. 22, 2020 /PRNewswire/ — Yuanfudao, China’s leading online education platform today announced the closing of its US$2.2 billion Series G1 and G2 financing. The G1 financing round was led by Tencent, with participation from Hillhouse Capital, Boyu Capital and IDG Capital. The G2 financing round was led by DST Global, with participation from CITICPE, GIC, Temasek, TBP, DCP, Ocean Link, Greenwoods and Danhe Capital.

Yuanfudao’s latest financing rounds increased the Company’s valuation to US$15.5 billion, making it the most valuable technology-driven education unicorns in the world. The new funding will allow Yuanfudao to further capitalize on its educational technology innovation, accelerate new curriculum product development and expand its online education service system.

Founded in 2012, Yuanfudao has been committed to enhancing and stimulating the learning experience and interest of Chinese students by providing them with highly accessible, quality education resources through the use of technology. Yuanfudao has offered a list of online learning products, including live tutoring platform Yuanfudao, Zebra AI Class, online question bank Yuantiku, question searching app Xiaoyuan Souti and arithmetic problem checking app Xiaoyuan Kousuan, etc.

Various online learning products provided by Yuanfudao Online Education
Various online learning products provided by Yuanfudao Online Education

Yuanfudao is the leading brand for China’s primary and secondary school online courses, while Zebra AI Class is the largest online course platform for preschool education in China. As of today, these two major online course platforms currently approximately 3.7 million students using their regular-priced courses, making Yuanfudao the largest online education company in China by number of students.

Headquartered in Beijing, Yuanfudao has established a number of teaching & research centers and branches across China, including in Wuhan, Xi’an, Zhengzhou, Nanjing, Chengdu, Jinan, Changsha, Tianjin, Chongqing, Shenyang, Changchun and Hefei with more than 30,000 employees. In March 2020, Yuanfudao announced that it would create 10,000 jobs across China and 5,000 jobs in Wuhan to support COVID-19 recovery efforts, as a part of the Company’s commitment to corporate social responsibility.

In July, the Beijing Winter Olympics Organizing Committee announced Yuanfudao as an official sponsor of the Beijing 2022 Winter Olympics. This will be the first time that an online education company will be sponsoring the Olympics.

About Yuanfudao

Yuanfudao is China’s leading online education platform which currently provides K-12 after school tutoring, pre-school enlightenment and adult education services to over 400 million users across China.

Founded in 2012, Yuanfudao has been committed to optimizing the learning experience, stimulating study enthusiasm and nurturing good learning habits for Chinese students by providing them with highly accessible, quality education resources through the use of innovative educational technologies. The Company has self-developed a variety of online education products including YUANFUDAO APP, YUANTIKU, XIAOYUANSOUTI, XIAOYUANKOUSUAN, Zebra AI Course and YUANFUDAO.

Headquartered in Beijing, Yuanfudao has established a number of teaching & research centers and branches across China, including in Wuhan, Xi’an, Zhengzhou, Nanjing, Chengdu, Jinan, Changsha, Tianjin, Chongqing, Shenyang, Changchun and Hefei with more than 30,000 employees. 

The company has also set up the Yuanfudao AI Research Institute in 2014, becoming the first online education service provider that runs its own AI research institute and top-notch technology laboratory. The AI Research Institute currently has approximately 100 members from a number of top-tier educational institutions and corporates such as Tsinghua University, Peking University, Chinese Academy of Sciences and Microsoft.

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