Galderma Announces First Patient Enrollment in Study to Assess Nemolizumab in Adults With Chronic Pruritus of Unknown Origin

  ZUG, Switzerland - Thursday, 11. December 2025 AETOSWire 

Chronic Pruritus of Unknown Origin (CPUO) is characterized by a persistent, chronic itch with an unknown cause and is associated with very high burden of disease due to severe itch, sleep deprivation and mental distress1

Galderma’s phase II study builds on emerging research that reinforces the role of IL-31 – a neuroimmune cytokine that is involved in driving itch – in CPUO1

Nemolizumab is a monoclonal antibody that specifically targets the IL-31 receptor alpha, inhibiting the signaling of IL-312

It is approved by multiple regulatory authorities for the treatment of moderate-to-severe atopic dermatitis and prurigo nodularis – conditions in which IL-31 plays a key role in driving itch, inflammation, epidermal dysregulation, and, in prurigo nodularis, fibrosis2-6

 

(BUSINESS WIRE)--Galderma (SIX: GALD), the pure-play dermatology category leader, today announced the first patient enrollment for its phase II study investigating the efficacy and safety of nemolizumab in treating patients living with Chronic Pruritus of Unknown Origin (CPUO). The first patient of the trial – which is taking place in the United States – was enrolled at Dr. Vlada Groysman’s site in Birmingham, Alabama.

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CPUO is an underdiagnosed condition defined as itch lasting for more than six weeks without an identified cause.1 It is a common condition and prevalent in nearly 30% of the elderly in certain populations, but despite its debilitating impact – with effects on sleep, mental health, and overall quality of life – there are currently no approved treatments.1,7

Nemolizumab is a monoclonal antibody that specifically targets the IL-31 receptor alpha, inhibiting the signaling of IL-31, a neuroimmune cytokine that plays a key role in CPUO by driving itch, its main symptom.1-4 This randomized, double-blind, placebo-controlled phase II study will determine the therapeutic potential of nemolizumab in adults with CPUO, to support progression to late-stage development.8

 

“We’re excited to launch this study exploring nemolizumab’s potential in patients with CPUO, many of whom have struggled for years without effective treatment options. Nemolizumab has shown outstanding efficacy in prurigo nodularis – a condition that shares important clinical and mechanistic features with CPUO – through its targeted inhibition of IL-31 signaling. With recent research further reinforcing IL-31 as a key driver of itch in CPUO, we’re hopeful that nemolizumab could offer meaningful relief to patients with this condition.”

DOCTOR SHAWN KWATRA, M.D.

LEAD INVESTIGATOR, CHRONIC PRURITUS OF UNKNOWN ORIGIN PHASE II STUDY

 

New data provides a better understanding of the key drivers of CPUO, underscoring the role of IL-31

Galderma’s study builds on a recent investigation into the causes of inflammation in CPUO, which uncovered critical insights into its complex inflammatory profile. The research – presented at the Society of Investigative Dermatology annual meeting in San Diego in May 2025 – found a significant increase in IL-31-producing CD4+ T cells in CPUO patients, reinforcing IL-31 as a key driver of the disease.9 These results open the door to targeted therapies that address the root causes of CPUO, a disease with significant unmet needs that currently has no approved treatment options.1,9

 

“The first patient enrollment in this study marks an important milestone in our commitment to advancing dermatology for every skin story – especially in areas of high unmet need. CPUO is a deeply distressing condition for patients, and the absence of approved treatments has left many without options. With nemolizumab’s targeted mechanism of action and promising results in related conditions, we’re hopeful this study will pave the way for a new therapeutic approach for those living with CPUO.”

BALDO SCASSELLATI SFORZOLINI, M.D., PH.D.

GLOBAL HEAD OF R&D

GALDERMA

 

More information about the study is available on the clinicaltrials.gov website.

About nemolizumab

Nemolizumab was approved in August 2024 by the United States Food and Drug Administration (U.S. FDA) for the treatment of adults with prurigo nodularis.3 In December 2024, it was also approved by the U.S. FDA for the treatment of patients 12 years and older with moderate-to-severe atopic dermatitis, in combination with topical corticosteroids and/or calcineurin inhibitors when the disease is not adequately controlled with topical prescription therapies.3 To date, nemolizumab is approved for both moderate-to-severe atopic dermatitis and prurigo nodularis by multiple regulatory authorities around the world, including in the European Union, Australia, Singapore, Switzerland and the United Kingdom. Additional regulatory submissions and reviews are ongoing.

Nemolizumab was initially developed by Chugai Pharmaceutical Co., Ltd. In 2016, Galderma obtained exclusive rights to the development and marketing of nemolizumab worldwide, except in Japan. In Japan, nemolizumab is marketed as Mitchga® and is approved for the treatment of prurigo nodularis, as well as pruritus associated with atopic dermatitis in pediatric, adolescent, and adult patients.10,11

About Galderma

Galderma (SIX: GALD) is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body’s largest organ – the skin – meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals. Because we understand that the skin we are in shapes our lives, we are advancing dermatology for every skin story. For more information: www.galderma.com.

References

Teresa J, et al. Therapeutics in chronic pruritus of unknown origin. Itch. 2023;8(1): pe64. doi: 10.1097/itx.0000000000000064

Silverberg JI, et al. Phase 2B randomized study of nemolizumab in adults with moderate-to-severe atopic dermatitis and severe pruritus. J Allergy Clin Immunol. 2020;145(1): 173-182. doi: 10.1016/j.jaci.2019.08.013

Nemluvio® U.S. Prescribing Information. Available online. Accessed October 2025

Nemluvio® European Medicines Agency. Summary of Product Characteristics. Available online. Accessed October 2025

Bewley A, et al. Prurigo Nodularis: A Review of IL-31RA Blockade and Other Potential Treatments. Dermatol Ther (Heidelb). 2022;12(9):2039–2048. doi: 10.1007/s13555- 022-00782-2

Kwatra SG, Misery L, Clibborn C, Steinhoff M. Molecular and cellular mechanisms of itch and pain in atopic dermatitis and implications for novel therapeutics. Clin Transl Immunology. 2022;11(5):e1390. doi: 10.1002/cti2.1390

Andrade E, et al. Interventions for chronic pruritus of unknown origin. CDSR. 2020;1(1): CD013128. doi: 10.1002/14651858.CD013128.pub2

ClinicalTrials.Gov. Proof of Concept Study to Assess the Pharmacokinetics/​Pharmacodynamics of Nemolizumab in Adults With Chronic Pruritus of Unknown Origin (CPUO) (CPUO). Available online. Last accessed October 2025

Gage G, et al. Peripheral blood high-dimension flow cytometry of chronic pruritus of unknown origin reveals il-31 and oncostatin m+ producing circulating blood CD4+ T cells. Abstract 0966. Society for Investigative Dermatology (SID) 2025 Meeting Abstract Supplement. J Invest Dermatol Volume 145 Issue 8 SupplementS1-S266

Chugai Pharmaceutical Co., Ltd. Maruho Obtained Regulatory Approval for Mitchga, the first Antibody Targeting IL-31 for Itching Associated with Atopic Dermatitis. Available online. Accessed October 2025

Chugai Pharmaceutical Co., Ltd. Mitchga Approved for Itching in Pediatric Atopic Dermatitis and Prurigo Nodularis, for its Subcutaneous Injection 30mg Vials. Available online. Accessed October 2025 

 

 

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Contacts

For further information:

Christian Marcoux, M.Sc.

Chief Communications Officer

christian.marcoux@galderma.com

+41 76 315 26 50

Emil Ivanov

Head of Strategy, Investor Relations, and ESG

emil.ivanov@galderma.com

+41 21 642 78 12

Richard Harbinson

Corporate Communications Director

richard.harbinson@galderma.com

+41 76 210 60 62

Jessica Cohen

Investor Relations and Strategy Director

jessica.cohen@galderma.com

+41 21 642 76 43

Céline Buguet

Franchises and R&D Communications Director

celine.buguet@galderma.com

+41 76 249 90 87

Cooling for a Greener Future: LG HVAC and ZāZEN Properties Set a New Standard for Sustainable Living

 

New residential community in Dubai equipped with advanced LG Multi V VRF systems, delivering unparalleled comfort, significant energy savings, and contributing to LEED Gold certification.

LG Electronics (LG) today announced its strategic collaboration with ZāZEN Properties, a leading sustainable property developer, to integrate LG’s cutting-edge HVAC solutions into the new ZāZEN Gardens residential community in Al Furjan, Dubai.

Highlighting a shared commitment to creating premium living spaces that are both luxurious and environmentally responsible, the pioneering partnership is setting a new benchmark for sustainable development in the region.

ZāZEN Properties envisioned ZāZEN Gardens community as a beacon of modern, eco-conscious living, offering residents an elevated lifestyle without compromising on environmental stewardship, where the challenge to deliver superior indoor comfort and air quality in Dubai’s demanding climate, while adhering to stringent sustainability targets, including LEED Gold certification, has traditionally proved a daunting gauntlet.

LG, however, is inherently up to the task, delivering advanced Variable Refrigerant Flow (VRF) technology offering LG Inverter-Driven VRF Systems, an ideal solution for the Gardens community. To meet the ambitious LEED Gold certification goal, LG deployed its state-of-the-art MULTI V system, which uses refrigerant as the cooling and heating medium, and unlike standard AC systems, allows a single outdoor unit to connect to multiple indoor units, each capable of independent temperature control, delivering unparalleled energy efficiency and zoning capabilities.

For enhanced indoor air quality, LG provided fresh air handling units with a unique double wheel configuration—an uncommon design in the market, but selected here to achieve both superior air quality and higher energy efficiency. Additionally, LG incorporated special filtration solutions, such as MERV 6 filters in fan coil units within apartments, to further improve air purity. Advanced thermostats were also proposed, allowing temperature adjustments in precise 0.5°C increments. Together, these innovations enabled residents to enjoy cleaner, more comfortable indoor environments, while helping the developer meet stringent energy efficiency goals.

Crucially, for comprehensive management of ZāZEN Gardens’ air conditioning, the LG Central Controller AC Manager acts as a sophisticated centralized building control system, where the software and hardware solution enables facility managers to monitor, control, and optimize the performance of all connected units from a central location; offering real-time data, scheduling capabilities, and advanced energy management features.

Brij Sharma, LG MEA HVAC Sales & Engineering, said: “Our role with ZāZEN Gardens was to ensure maximum comfort with minimal energy use, and in using LG’s latest VRF technology, we helped the community to achieve stable indoor comfort while meeting LEED’s stringent energy performance goals, proving that luxury and sustainability can coexist seamlessly.”

Mihir Modi Projects Director, ZāZEN Property Development LLC., added: “LG’s comprehensive HVAC system was pivotal in realizing our vision for ZāZEN Gardens, with its energy-efficient and control-driven solutions not only ensuring optimal indoor environments, but also helping us exceed LEED benchmarks, making all the difference in achieving our ambitious Gold certification target.”

This partnership between LG and ZāZEN Properties at ZāZEN Gardens exemplifies how innovative technology and a forward-thinking approach can create truly sustainable and luxurious residential communities.

For more information on LG’s HVAC solutions, please visit: https://www.lg.com/global/business/insights/.

About LG Electronics Eco Solution Company    

The LG Eco Solution Company (ES) offers advanced air conditioning solutions tailored to various sectors and climates, delivering exceptional heating, ventilation and air conditioning (HVAC) performance to buildings worldwide. Leveraging our extensive expertise and industry knowledge, we cater to businesses seeking digitalized and eco-conscious HVAC solutions. As your ideal partner, we are equipped to integrate our cutting-edge technology into your daily operations, providing continuous support for your business. In addition to HVAC solutions, the ES Company is also responsible for LG’s electric vehicle charging business, aiming to drive B2B growth within the clean tech sector, a key future growth area for LG. For more information, please visit https://www.lg.com/ae/business/hvac and www.LG.com/b2b.

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Contacts

LG-One            

Mohamed Almahmoud

Email: Mohamed.almahmoud@lg-one.com

1X تعلن عن شراكة استراتيجية لتوفير ما يصل إلى 10,000 روبوت بشري لمحفظة EQT العالمية

(BUSINESS WIRE)-- أعلنت شركة 1X، الرائدة في تقنيات الذكاء الاصطناعي والروبوتات وصاحبة الروبوت البشري NEO الجاهز للإطلاق التجاري، عن توقيع شراكة استراتيجية جديدة مع شركة EQT، إحدى أكبر شركات الاستثمار الخاص عالميًا والمستثمر الحالي في 1X عبر EQT Ventures. وتمهد هذه الشراكة الطريق لبدء مرحلة توسّع تجاري قد تقود إلى نشر واسع للروبوتات البشرية متعددة الاستخدامات في قطاعات وصناعات مختلفة حول العالم.

تسعى شركتا 1X وEQT بشكلٍ مشترك إلى تمكين نشر ما يصل إلى 10,000 روبوت بشري ضمن شركات محفظة EQT العالمية خلال الفترة بين 2026 و2030، مع الإشارة إلى أن كل شركة من شركات المحفظة ستتخذ القرار النهائي بشأن تطبيق هذه التكنولوجيا. وتشكِّل هذه الشراكة خطوة مهمة نحو إدماج الروبوتات البشرية في الاستخدام التجاري الروتيني.

من خلال هذا التعاون، ستحظى شركات محفظة EQT بإمكانية الوصول المبكر إلى قدرات الإنتاج التجاري لشركة 1X وخبرتها المتقدمة في دمج الروبوتات ضمن بيئات العمل، مما يمنح المتبنين الأوائل ميزة استراتيجية في مواجهة التحولات الهيكلية في القوى العاملة. وسيركز التعاون على تطبيقات عالية الأثر للروبوتات العاملة بتعاون وثيق مع البشر، بما يشمل البرمجيات الصناعية، والخدمات اللوجستية، وإدارة المنشآت، والتخزين، والتصنيع، والرعاية الصحية.

ومن المخطط أن تطلق 1X برامج تجريبية في الولايات المتحدة عام 2026، يتبعها توسُّع سريع لتغطية الأسواق في أوروبا وآسيا.

 "تمثل هذه الشراكة خطوة حاسمة في إدماج الروبوتات البشرية ضمن الاقتصاد الحقيقي،" حسبما قال Bernt Øivind Børnich، المؤسس والرئيس التنفيذي لشركة 1X. "الشبكة العالمية لشركة EQT وخبرتها التشغيلية تجعلها الشريك المثالي لضمان نشر تقنيتنا بشكل آمن ومسؤول وعلى نطاق واسع.  نسعى من خلال هذه الشراكة إلى إظهار كيف يمكن للروبوتات البشرية أن تعزِّز الإنتاجية، وتحسِّن مستويات السلامة، وتُسهم في تطوير نماذج عمل أكثر استدامة على مستوى العالم".

 "الروبوتات البشرية تنتقل من عالم الخيال إلى النشر الواقعي، وشركة 1X في موقع فريد لقيادة موجة التبني التالية للروبوتات على نطاق السوق العام،" حسبما صرَّح Ted Persson، الشريك الرئيسي في EQT Ventures، التي استثمرت لأول مرة في 1X عام 2023. " الأمر لا يتعلق باستبدال البشر، بل بمنحهم قدرات فائقة. من خلال إتاحة تقنية 1X لشركات محفظتنا، نساعدهم على مواجهة نقص العمالة، وتحسين السلامة، وفتح مستويات جديدة من الإنتاجية في الصناعات التي تُبقي العالم على قدمه".

 أهم النقاط

إمكانية نشر ما يصل إلى 10,000 روبوت بشري عبر أكثر من 300 شركة ضمن محفظة EQT خلال الفترة 2026–2030، مع أن أي قرار بشأن التنفيذ النهائي يتخذه كل شركة ضمن المحفظة

تركيز خاص على مجالات اللوجستيات، وإدارة المنشآت، والتخزين، والتصنيع، والرعاية الصحية

التزام مشترك بنشر الروبوتات بطريقة آمنة ومسؤولة تضع الإنسان في محور العمل

تجسِّد هذه الشراكة رؤية مشتركة بين EQT و1X لمستقبل تتكامل فيه الروبوتات البشرية مع القوى العاملة البشرية، لتعزيز المرونة الصناعية ورفع مستويات الإنتاجية. ويؤكد هذا الإعلان على تعزيز مكانة 1X كرائدة عالمية في السباق نحو نشر الروبوتات البشرية متعددة الأغراض على نطاق واسع.

 نبذة عن 1X

شركة 1X هي شركة أمريكية رائدة في مجال الذكاء الاصطناعي والروبوتات، تقف وراء تطوير NEO – الروبوت البشري المتقدم. تسعى 1X من خلال مهمتها إلى بناء مستقبل مزدهر يقدمه روبوتات بشرية ذكية وآمنة. تم تصميم منصَّة الروبوتات البشرية من 1X لتعمل بتناغم تام مع البشر في مختلف البيئات. من المنازل إلى خطوط الإنتاج الصناعية، توفر 1X حلاً متكاملاً للعمالة الاصطناعية يعزِّز القدرات البشرية ويدعم إنتاجية أفضل.

 نبذة عن EQT

 EQT هي منظمة استثمارية عالمية ذات هدف واضح، وتمتلك أصولًا تحت الإدارة بقيمة 267 مليار يورو حتى 30 سبتمبر 2025. تشمل منصتها رأس المال الخاص والأصول الحقيقية، وتضم حوالي 300 شركة ضمن المحفظة يعمل بها نحو 700,000 موظف. تمتلك EQT أيضًا أكثر من 2,000 أصل عقاري في الولايات المتحدة وأوروبا وآسيا والمحيط الهادئ، بما في ذلك 1,800 مستأجر لوجستي و20,000 مستأجر سكني. يدعم قطاع البنية التحتية لديها 330 مليون مسافر سنويًا، ويخدم 40 مليون مستخدم من خدمات البنية التحتية الاجتماعية، ويدير أكثر من 70 مركز بيانات، ويشمل أكثر من 145 عيادة. المزيد من المعلومات: www.eqtgroup.com

 EQT Ventures

 EQT Ventures هي مستثمر رئيسي في مرحلة مبكرة يسعى لأن يكون الشريك الأكثر تأثيرًا للمؤسسين الذين يشكلون جيلاً جديدًا. منذ انطلاقها، جمعت EQT Ventures أكثر من 2.6 مليار يورو عبر صناديقها، وتعاونت مع أكثر من 140 فريقًا مؤسسًا في أوروبا والولايات المتحدة لبناء شركات دائمة ومميزة في فئتها. يوفر الفريق أكثر من رأس المال، مقدمًا خبرة تشغيلية عميقة، وإرشادًا استراتيجيًا، والوصول إلى منصَّة EQT العالمية لتسريع النمو. مع فريق مكون من مؤسسين ومديرين سابقين، تقدم EQT Ventures دعمًا جذريًا لمساعدة الشركات الناشئة على التوسع بثقة. EQT Ventures هي جزء من مجموعة EQT، ومع EQT Growth، تشكِّل منصَّة EQT للتكنولوجيا في مرحلة مبكرة. https://eqtgroup.com/private-capital/eqt-ventures

 إن نص اللغة الأصلية لهذا البيان هو النسخة الرسمية المعتمدة. أما الترجمة فقد قدمت للمساعدة فقط، ويجب الرجوع لنص اللغة الأصلية الذي يمثل النسخة الوحيدة ذات التأثير القانوني.

الرابط الثابت

https://www.aetoswire.com/ar/news/1212202551732

جهات الاتصال

 جهة الاتصال للإعلام:

 Kendall Pennington

 رئيس قطاع الاتصالات، 1X

 البريد الإلكتروني: press@1x.tech 

1X Announces Strategic Partnership to Make up to 10,000 Humanoid Robots Available to EQT’s Global Portfolio

 (BUSINESS WIRE) -- 1X, the AI and robotics company behind NEO, the first ready-to-ship humanoid robot, today announced a strategic partnership with EQT, one of the world’s largest private equity firms and an investor in 1X through EQT Ventures. The partnership marks the beginning of what could become a large-scale commercial rollout of general-purpose humanoid robots across multiple industries.

Together, 1X and EQT have a shared intent to facilitate the rollout of up to 10,000 humanoids across EQT’s global portfolio companies between 2026 and 2030, with any potential implementation decision ultimately taken by each portfolio company. The partnership represents an early step in bringing humanoid robotics into mainstream commercial use.

Through this collaboration, EQT’s portfolio companies will gain early access to 1X’s commercial production capacity and integration expertise, giving early adopters a first-mover advantage in addressing structural workforce transformation. The partnership will focus on high-impact use cases for robots working closely with humans, such as industrial software, logistics, facility operations, warehousing, manufacturing, and healthcare.

1X will launch pilots in the United States in 2026, followed by rapid scaling across Europe and Asia.

“This partnership brings humanoid robotics into the real economy,” said Bernt Øivind Børnich, Founder and CEO of 1X. “EQT’s global reach and operational expertise make them the ideal partner to help deploy our technology safely, responsibly, and at scale. Together, we aim to demonstrate how humanoid robots can enhance productivity, improve safety, and create more sustainable labor models worldwide.”

“Humanoid robotics is moving from fiction to real-world deployment, and 1X is uniquely positioned to lead the next wave of mass-market robotic adoption,” said Ted Persson, lead Partner in EQT Ventures, which first invested in 1X in 2023. “This isn’t about replacing people, it’s about giving them superpowers. By making 1X’s technology available to our portfolio companies, we help them tackle labor shortages, improve safety, and unlock new levels of productivity in the industries that keep the world running.”

Key Highlights

Up to 10,000 humanoids made available for deployment across EQT’s 300+ portfolio companies (2026–2030), with any potential implementation decided by each portfolio company

Focus on logistics, facility operations, warehousing, manufacturing, and healthcare

Joint ambition for safe, responsible, and human-centered deployment

The partnership underscores a shared vision between EQT and 1X: a future where humanoid robots work alongside people, supporting industrial resilience and enhancing productivity. With this announcement, 1X strengthens its position as a frontrunner in the global race to commercialize general-purpose humanoid robots at scale.

About 1X

1X is a leading U.S.-based AI and robotics company, developing NEO – the humanoid robot. 1X’s mission is to create an abundant future through safe, intelligent humanoids. The humanoid platform from 1X has been designed to operate amongst humans. From homes to manufacturing floors, 1X provides an artificial labor solution to enhance human potential.

About EQT

EQT is a global investment organization with a clear purpose and €267 billion in assets under management as of 30 September 2025. The platform spans Private Capital and Real Assets and includes about 300 portfolio companies with roughly 700,000 employees. EQT also owns more than 2,000 real estate assets across the US, Europe, and Asia Pacific, including 1,800 logistics tenants and 20,000 living tenants. Its infrastructure portfolio supports 330 million passengers each year, serves 40 million users of social infrastructure services, operates more than 70 data centers, and includes over 145 clinics. More info: www.eqtgroup.com

EQT Ventures

EQT Ventures is an early-stage lead investor striving to be the most impactful partner to generation-defining founders. Since launch, EQT Ventures has raised over €2.6 billion across its funds and partnered with more than 140 founding teams across Europe and the US to build enduring, category-defining companies. The team provides more than capital, offering deep operational expertise, strategic guidance, and access to EQT’s global platform to accelerate growth. With a team of former founders and operators, EQT Ventures delivers radical support to help startups scale with confidence. EQT Ventures is part of EQT Group and, together with EQT Growth, forms EQT’s early-stage tech platform. https://eqtgroup.com/private-capital/eqt-ventures

 

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Contacts

Media Contact:

Kendall Pennington

Head of Communications, 1X

Email: press@1x.tech

AB InBev and International Cricket Council Announce Landmark Global Partnership

 

BRUSSELS - 

World’s Leading Brewer becomes the Official Beer Partner of the ICC

(BUSINESS WIRE) -- The International Cricket Council (ICC) announced AB InBev (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH), the world’s leading brewer, will become the Official Beer Partner for all major ICC tournaments starting in 2026. The partnership will be led by Budweiser 0.0, Budweiser’s no-alcohol beer in India, with other ABI mega brands activating in Europe and Africa.

From attending a match live in-stadium to watching one at a bar or pub with friends, with a lower alcohol-by-volume (ABV) and no-alcohol options like Budweiser 0.0, beer is the natural choice to enjoy responsibly. Through this partnership with the ICC, AB InBev will create more moments of cheers, choice and celebration for cricket fans of legal drinking age all over the world.

ICC CEO, Sanjog Gupta said: "Cricket is one of the world’s most loved sports with more than two billion fans and ICC events are its largest platforms for passion, while AB InBev has been at the forefront of creating experiential activations to grow and deepen fandom. This partnership is a natural alliance between organizations striving to elevate moments, create memories and deliver experiences via innovation in avenues for fan engagement. We welcome AB InBev to the ICC’s august list of commercial partners and look forward to co-delivering multi-modal event experiences across our tournaments and amplifying excitement for the sport around the world."

Global Chief Marketing Officer of AB InBev, Marcel Marcondes said: “Cricket is one of the world’s most popular and fastest-growing sports, and we are excited to connect with fans on this mega platform. Beer is the beverage for socialization and moderation, and our partnership with the ICC provides another occasion for our brands to create unforgettable experiences for consumers everywhere.”

The partnership includes all major ICC men’s and women’s events through 2027 including the ICC Men’s T20 World Cup 2026 in India & Sri Lanka, the ICC Women’s T20 World Cup 2026 in the UK, the inaugural ICC Women’s Champions Trophy 2027 in Sri Lanka, the ICC World Test Championship Final 2027 in England and the ICC Men's Cricket World Cup 2027 in South Africa, Zimbabwe and Namibia.

About ICC

The ICC is cricket’s global governing body, representing 110 members worldwide. It oversees major tournaments such as the Men’s and Women’s Cricket and T20 World Cups, enforces the Code of Conduct on professional standards and playing conditions (with the MCC responsible for the Laws of Cricket), appoints match officials for all international formats, and combats corruption through its Anti-Corruption Unit. Its Development department also works with Associate Members to strengthen cricket systems, raise standards, and grow the game globally.

About AB InBev

Anheuser-Busch InBev (AB InBev) is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary listings on the Mexico (MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American Depositary Receipts on the New York Stock Exchange (NYSE: BUD). As a company, we dream big to create a future with more cheers. We are always looking to serve up new ways to meet life’s moments, move our industry forward and make a meaningful impact in the world. We are committed to building great brands that stand the test of time and to brewing the best beers using the finest ingredients. Our diverse portfolio of well over 500 beer brands includes global brands Budweiser®, Corona®, Stella Artois® and Michelob Ultra®; multi-country brands Beck’s®, Hoegaarden® and Leffe®; and local champions such as Aguila®, Antarctica®, Bud Light®, Brahma®, Cass®, Castle®, Castle Lite®, Cristal®, Harbin®, Jupiler®, Modelo Especial®, Quilmes®, Victoria®, Sedrin®, and Skol®. Our brewing heritage dates back more than 600 years, spanning continents and generations. From our European roots at the Den Hoorn brewery in Leuven, Belgium. To the pioneering spirit of the Anheuser & Co brewery in St. Louis, US. To the creation of the Castle Brewery in South Africa during the Johannesburg gold rush. To Bohemia, the first brewery in Brazil. Geographically diversified with a balanced exposure to developed and developing markets, we leverage the collective strengths of approximately 144 000 colleagues based in nearly 50 countries worldwide. For 2024, AB InBev’s reported revenue was 59.8 billion USD (excluding JVs and associates).

 

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Contacts

Media:

ICC Media Communications | media@icc-cricket.com

AB InBev Media Relations | media.relations@ab-inbev.com

Perma-Pipe International Holdings, Inc. Announces Third Quarter 2025 Financial Results

 

Net sales of $61.1 million for the quarter and $155.8 million year-to-date.

Income before income taxes of $10.9 million for the quarter and $21.1 million year-to-date.

Diluted earnings per share of $0.77 for the quarter and $1.49 year-to-date.

Backlog of $148.9 million at October 31, 2025, up from $138.1 million at January 31, 2025.

 

(BUSINESS WIRE) -- Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2025.

“For the three months ended October 31, 2025, net sales were $61.1 million, an increase of $19.5 million, or 46.9%, compared to $41.6 million in the same quarter of the prior year. Growth was driven by higher sales volumes in both the Middle East and North America. Gross profit was $21.0 million, up $6.9 million from $14.1 million last year, reflecting higher activity levels. Selling, general and administrative expenses increased to $8.3 million from $7.3 million, primarily due to higher payroll and professional fees, including approximately $0.5 million relating to Sarbanes-Oxley 404 compliance in connection with our transition from a small reporting company to an accelerated filer. The Company’s effective tax rate (“ETR”) was 27%, compared to 32% in the prior-year quarter, reflecting the impact of product mix in various tax jurisdictions. As a result, net income attributable to common stock was $6.3 million, an increase of $3.8 million, or 152.0%, compared to $2.5 million in the third quarter of fiscal 2024,” noted President and CEO Saleh Sagr.

“For the nine months ended October 31, 2025, net sales were $155.8 million, an increase of $42.4 million, or 37.4%, compared to $113.4 million in the prior-year period. The increase was primarily attributable to higher sales volumes in both the Middle East and North America. Gross profit was $52.2 million, compared to $38.1 million in the prior year period, reflecting increased activity levels during the current year. General and administrative expenses were $26.1 million, up from $19.5 million, due to higher payroll and professional fees, including approximately $1.0 million relating to Sarbanes-Oxley 404 compliance in connection with our transition from a small reporting company to an accelerated filer. This also includes a one-time compensation charge of approximately $2.0 million related to the departure of the previous CEO. The Company’s effective tax rate was 29%, compared to 28% in the prior-year period. The increase in the Company's tax rate was impacted due to product mix in various tax jurisdictions and as a result of a tax limitation relating to the one-time charge in connection with the previous CEO's departure. Net income attributable to common stock increased to $12.1 million, an increase of $4.9 million, or 68.1%, compared to $7.2 million in the same period of fiscal 2024,” Mr. Sagr commented.

President and CEO Saleh Sagr added: “As of October 31, 2025, our backlog totaled $148.9 million, representing an increase of $10.8 million, or 7.8%, compared with the $138.1 million reported as of January 31, 2025. Our current backlog levels continue to demonstrate substantial growth; in particular, backlog at the end of the third fiscal quarter of 2025 reflects an increase of more than 30% over the backlog recorded at the end of the prior year’s third quarter. This expansion is evident across both North America and the MENA region, underscoring the sustained strength of demand for our solutions.”

“As of October 31, 2025, our year-to-date revenues approximate the revenues reported for the full-year fiscal 2024. Current year-to-date net income attributable to common stock was $12.1 million, an increase of $3.1 million, or 34.4%, compared to approximately $9.0 million in fiscal 2024. The fact that year-to-date net income has exceeded full-year fiscal 2024 results with one quarter remaining in fiscal 2025 reflects continued operational and financial improvement. In addition, net income attributable to common stock for the three and nine months ended October 31, 2025, represents the highest level of earnings since the Company's transition from MFRI to Perma-Pipe in 2017," Mr. Sagr continued.

“We have continued to experience solid financial performance, supported by sustained activity in our core markets and improved operating leverage. Our operations in the Middle East and North America delivered strong results, further evidencing the ongoing strengthening of our global platform. This performance is reflected in our quarterly and year-to-date results as well as in the growth of our backlog. These results also align with our strategic initiatives, including our investment in the new Qatar facility, which has secured more than $5.0 million in awards scheduled for execution during the remainder of the year. We remain focused on driving profitable growth and enhancing our competitive position within the markets we serve,” Mr. Sagr concluded.

Third Quarter Fiscal 2025 Results

Net sales were $61.1 million and $41.6 million in the three months ended October 31, 2025 and 2024, respectively. The increase of $19.5 million was a result of increased sales volumes in the Middle East and in North America.

Gross profit was $21.0 million and $14.1 million in the three months ended October 31, 2025 and 2024, respectively. The increase of $6.9 million was driven primarily by increased volume of activity in the quarter.

General and administrative expenses were $8.3 million and $7.3 million in the three months ended October 31, 2025 and 2024, respectively. The increase of $1.0 million was mainly due to higher payroll expenses and, to a lesser extent, professional fees in the quarter.

Selling expenses were $1.3 million and $1.2 million in the three months ended October 31, 2025 and 2024, respectively. The increase of $0.1 million was due to higher payroll expense in the quarter.

Net interest expense remained consistent and was $0.5 million in the three months ended October 31, 2025 and 2024, respectively.

The Company's ETR was 27% and 32% in the three months ended October 31, 2025 and 2024, respectively. The lower ETR for the three months ended October 31, 2025 is due to the mix of income and loss in various jurisdictions

Net income attributable to common stock was $6.3 million and $2.5 million in the three months ended October 31, 2025 and 2024, respectively. The increase of $3.8 million was mainly due to increased sales activity in the quarter, and better project execution.

Fiscal 2025 Year-to-Date Results

Net sales were $155.8 million and $113.4 million in the nine months ended October 31, 2025 and 2024, respectively. The increase of $42.4 million was a result of increased sales volumes in the Middle East and in North America.

Gross profit was $52.2 million and $38.1 million in the nine months ended October 31, 2025 and 2024, respectively. The increase of $14.1 million was driven primarily by increased volume of activity.

General and administrative expenses were $26.1 million and $19.5 million in the nine months ended October 31, 2025 and 2024, respectively. The increase of $6.6 million was due to higher payroll expenses and professional fees. This includes a one-time charge due to an acceleration of certain executive compensation expense as a result of a departure from the organization.

Selling expenses remained consistent and were $3.5 million and $3.8 million in the nine months ended October 31, 2025 and 2024, respectively. The decrease of $0.3 million was primarily attributable to lower payroll expenses.

Net interest expense was $1.3 million and $1.5 million in the nine months ended October 31, 2025 and 2024, respectively. The decrease of $0.2 million was the result of an overall reduction in interest rates during the current year.

The Company's ETR was 29% and 28% in the nine months ended October 31, 2025 and 2024, respectively. The change in the ETR is due to the mix of income and loss in various jurisdictions.

Net income attributable to common stock was $12.1 million and $7.2 million in the nine months ended October 31, 2025 and 2024, respectively. The increase of $4.9 million was mainly due to increased sales volumes and better project execution during the current year.

Perma-Pipe International Holdings, Inc.

Perma-Pipe International Holdings, Inc. (the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at fourteen locations in seven countries.

Forward-Looking Statements

Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) fluctuations in the price of oil and natural gas and its impact on customer order volume for the Company's products; (ii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (iii) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve sustained profitability and positive cash flows; (vi) the Company's ability to collect a long-term account receivable related to a project in the Middle East; (vii) the Company’s ability to interpret changes in tax regulations and legislation; (viii) the Company's ability to use its net operating loss carryforwards; (ix) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s "over-time" revenue recognition; (x) the Company’s failure to establish and maintain effective internal control over financial reporting; (xi) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (xii) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xiii) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xiv) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xv) reductions or cancellations of orders included in the Company’s backlog; (xvi) risks and uncertainties specific to the Company's international business operations; (xvii) the Company’s ability to attract and retain senior management and key personnel; (xviii) the Company’s ability to achieve the expected benefits of its growth initiatives; (xix) the impact of pandemics and other public health crises on the Company and its operations; and (xx) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com).

The Company's fiscal year ends on January 31. Years, results, and balances described as 2025, 2024, and 2023 are for the fiscal year ended January 31, 2026, 2025, and 2024, respectively.

Additional information regarding the Company's financial results for the three and nine months ended October 31, 2025, including management's discussion and analysis of the Company's financial condition and results of operations, is contained in the Company's Quarterly Report on Form 10-Q for the quarterly period ended October 31, 2025, which will be filed with the Securities and Exchange Commission on or about the date hereof and will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company's website.

The following information contains a reconciliation of the non-GAAP financial measure of adjusted income before tax and income before income tax prepared in accordance with generally accepted accounting principles ("GAAP") for the three and nine months ended October 31, 2025 and 2024, respectively. This reconciliation is intended to provide investors with useful information in evaluating the Company's performance. Adjusted income before tax includes certain adjustments as identified below. This measure is not considered an alternative to income before income tax or other financial measures of performance that are prepared in accordance with GAAP. The Company believes that the exclusion of certain items from income before income tax allows investors to more effectively evaluate the Company's operating performance and identify trends that might not be apparent due to the variability and infrequent nature of these items. In addition, the Company believes this measure provides meaningful information to investors when comparing results between periods and performance with respect to the Company's peers.

Adjustments made for certain items are further described as follows: (i) one-time charge in connection with the acceleration of executive compensation; (ii) other non-recurring charges. As a result of these adjustments, some items that affect income before income tax may not be comparable to similar measures of other companies.

The following table provides a reconciliation of the GAAP and non-GAAP financial measure:

  Three Months Ended July 31 Six Months Ended July 31,

 

2025

 

2024

 

2025

 

2024

Income before income tax (GAAP as reported)

$

10,900

 

$

5,068

 

$

21,089

 

$

13,218

Acceleration of certain executive compensation

 

-

 

 

-

 

 

2,018

 

 

-

Other one-time charges

 

-

 

 

-

 

 

88

 

 

-

Adjusted income before tax

$

10,900

 

$

5,068

 

$

23,195

 

$

13,218

 

 

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Contacts

Perma-Pipe International Holdings, Inc.

Saleh Sagr, President and CEO

Perma-Pipe Investor Relations

847.929.1200

investor@permapipe.com

 

30 مليون مركبة: China Changan Automobile Group تحقق إنجازًا إنتاجيًا تاريخيًا وتدخل عصرًا جديدًا من النمو العالمي المرتكز على المستخدم والمدفوع بالتكنولوجيا

احتفلت اليوم China Changan Automobile Group بإنجاز غير مسبوق مع خروج مركبتها رقم 30 مليون من خطوط الإنتاج، وهي طراز AVATR 12 إصدار الليزر الرباعي، في مصنع AVATR للذكاء الرقمي. وتمثل هذه المحطة علامة فارقة في مسيرة تحول Changan إلى شركة عالمية لتقنيات التنقل الذكي.

وقال تشو هوارونغ، رئيس مجلس إدارة China Changan Automobile Group:
"تواصل Changan التزامها بتوفير حلول تنقل أكثر ذكاءً واستدامة وإرضاءً، تلبيةً لتطلعات المستخدمين حول العالم نحو مستقبل أفضل."

السلامة دون مساومة: "رحلة آمنة إلى المنزل"

تُعد السلامة أولوية قصوى لدى Changan، وهو التزام بدأ منذ عام 1999 عندما أجرت أول اختبار تصادم لسيارة فان في الصين. ومنذ ذلك الحين، طورت الشركة قدراتها في الحماية من الهياكل السلبية إلى أنظمة تدخل نشطة في مجال السلامة. وبالاستناد إلى المختبر الوطني الرئيسي الوحيد في الصناعة لتقنيات سلامة المركبات الذكية، تستخدم Changan نظام التحقق الخاص بها CA-ITVS لإخضاع مركباتها لاختبارات تتجاوز 5 ملايين كيلومتر، بما يضمن عمر خدمة يصل إلى 10 سنوات أو 260,000 كيلومتر.

وفي عصر الذكاء، تعيد Changan تعريف الحماية من خلال منظومتها الجديدة "SDA Intelligence"، التي تتجاوز الدفاعات المادية التقليدية لتقديم نظام أمان شامل يحمي الركاب وبياناتهم على حد سواء، بما يضمن "رحلة آمنة إلى المنزل" من جميع النواحي.

مدفوعة بالتكنولوجيا: ابتكارات تحدث فرقًا

انطلاقًا من استراتيجيتيها "الخُضرة" و"الذكاء"، تقدم Changan ابتكارات ملموسة إلى الأسواق. تستهدف خطة الخُضرة مجالات التحول الكهربائي، وسلامة البطاريات، وبناء منظومة متكاملة للمركبات الجديدة المعتمدة على الطاقة، فيما تدفع خطة الذكاء تطوير أنظمة القيادة الذاتية والتوصيلية الذكية. ومن أبرز الابتكارات، نظام البطارية "الدرع الذهبي" الذي يوفر مستوى أمان فائق، وتقنية التسخين بالنبض عالي التردد لتحسين الكفاءة في الطقس البارد. كما يوفر نظام BlueCore 3.0 لمجموعة نقل الحركة حلولًا هجينة وتقليدية (ICE) تجمع بين الأداء العالي وكفاءة استهلاك الوقود، مما يضمن أن تكون كل رحلة فعّالة وموثوقة.

مستقبل طموح: تنقل ذكي وانتشار عالمي

نحو عام 2030، كشفت Changan عن خارطة طريق طموحة تهدف إلى أن تكون ضمن أكبر 10 علامات تجارية للسيارات في العالم، بمبيعات سنوية تصل إلى 5 ملايين وحدة. وتتوقع Changan أن تشكل المركبات الجديدة المعتمدة على الطاقة أكثر من 60% من إجمالي مبيعاتها، وأن تأتي 30% من هذه المبيعات من الأسواق الخارجية، مما يعزز مكانتها العالمية.

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