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Oncolytics Biotech® Reports Third Quarter 2024 Financial Results and Operational Highlights

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BRACELET-1 data showing impressive overall survival benefit in HR+/HER2- metastatic breast cancer affirms pelareorep + paclitaxel combination should be evaluated in a registrational study

Upcoming GOBLET milestones include updated efficacy data from anal cancer cohort and safety run-in data from the modified FOLFIRINOX pancreatic cancer cohort

Cash position of $19.6 million as of September 30, 2024

Management hosting conference call and webcast today at 8:30 a.m. ET

SAN DIEGO and CALGARY, AB, Nov. 12, 2024 /PRNewswire/ — Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced third quarter financial results and operational highlights.

 

 

Wayne Pisano, Chair of Oncolytics’ Board of Directors and Interim CEO, stated, “With positive BRACELET-1 results, we have two randomized phase two studies confirming pelareorep’s potential in HR+/HER2- metastatic breast cancer. After discussions with regulators and key opinion leaders and based on an estimated overall survival benefit of more than a year provided by pelareorep-based therapy, a registration-enabling study that is designed to support an accelerated approval is the next logical step for the development of pelareorep.” Pisano continued, “We continue to develop our gastrointestinal cancer program and look forward to presenting updated efficacy data from our anal cancer cohort and safety data from our new modified FOLFIRNOX pancreatic cancer cohort. Both of these indications represent a significant unmet medical need, and we have shown pelareorep provides the potential to meaningfully improve patient outcomes. This coming year will be critical for pelareorep, as well as for Oncolytics, and I’ve never been more confident in the potential pelareorep can deliver to cancer patients in need.”

Third Quarter Highlights

BRACELET-1 data exceeds expectations, providing clear evidence of pelareorep’s ability to improve outcomes in patients with advanced HR+/HER2- breast cancer (link to press release), demonstrating progression-free survival of 12.1 months for pelareorep + paclitaxel compared to 6.4 months for paclitaxel alone, yielding a benefit of 5.7 months. Additionally, 64% of patients treated with pelareorep + paclitaxel lived at least two years compared to only 33% of patients treated with paclitaxel alone. Overall survival could not be calculated as more than half of the pelareorep + paclitaxel patients were alive at the end of the study. Assuming the remaining patients survived only until their next planned follow-up visit, the median overall survival would have been 32.1 months, which compares favorably to the 18.2 months recorded for patients who received paclitaxel monotherapy.

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Financial Highlights

  • As of September 30, 2024, the Company reported $19.6 million in cash and cash equivalents. The Company has a projected cash runway through key milestones and into 2025.
  • The net loss for the third quarter of 2024 was $9.5 million, compared to a net loss of $9.9 million for the third quarter of 2023. The basic and diluted loss per share was $0.12 in the third quarter of 2024, compared to a basic and diluted loss per share of $0.14 in the third quarter of 2023.
  • Research and development expenses for the third quarter of 2024 were $6.8 million, compared to $5.8 million for the third quarter of 2023. The increase was primarily due to higher manufacturing expenses and clinical trial expenses.  
  • General and administrative expenses for the third quarter of 2024 were $3.1 million, compared with $5.2 million for the third quarter of 2023. The decrease was primarily due to lower investor relations activities and transaction costs as part of our public offering in 2023.
  • Net cash used in operating activities for the nine months ended September 30, 2024 was $19.1 million, compared to $22.3 million for the nine months ended September 30, 2023. The decrease reflected non-cash working capital changes, partly offset by higher net operating activities in 2024.

Recent and Anticipated Milestones

  • H1 2025: Finalize master protocol for the adaptive registration-enabling trial for pelareorep, gemcitabine, nab-paclitaxel, and atezolizumab in first-line pancreatic ductal adenocarcinoma (PDAC) with the Global Coalition for Adaptive Research (GCAR) and submit it to the FDA
  • H1 2025: Safety run-in data from cohort 5 of the GOBLET study, investigating pelareorep and modified FOLFIRNOX (mFOLFIRINOX) with or without atezolizumab in newly diagnosed pancreatic cancer
  • H1 2025: updated efficacy data from cohort 4 of the GOBLET study, investigating pelareorep and atezolizumab in second-line or later anal cancer
  • Mid 2025: First patient enrolled in registration-enabling study evaluating pelareorep and paclitaxel in metastatic HR+/HER2- breast cancer
  • H2 2025: Initial efficacy results from cohort 5 of the GOBLET study, investigating pelareorep and mFOLFIRINOX with or without atezolizumab in newly diagnosed pancreatic cancer

Webcast and Conference Call

Management will host a conference call for analysts and investors at 8:30 a.m. ET today, November 12, 2024. To access the call, please dial (888) 510-2154 (North America) or (437) 900-0527 (International), and if needed, provide Conference ID: 68336. To join the conference call without operator assistance, please click here. A live webcast of the call will also be available by clicking here or on the Investor Relations page of Oncolytics’ website, available by clicking here, and will be archived for three months. A dial-in replay will be available for one week and can be accessed by dialing (888) 660-6345 (North America) or (289) 819-1450 (International) and using replay code: 68336#.

ONCOLYTICS BIOTECH INC.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(unaudited)

(in thousands of Canadian dollars, except share amounts)

As at

September 30,
2024

December 31,
2023

Assets

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Current assets

Cash and cash equivalents

$              19,598

$                       34,912

Other receivables

104

15

Prepaid expenses

2,119

3,246

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Warrant derivative

1,092

Total current assets

22,913

38,173

Property and equipment

422

282

Right-of-use assets

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927

365

Total assets

$              24,262

$                       38,820

Liabilities and Shareholders’ Equity

Current liabilities

Accounts payable and accrued liabilities

$                 6,922

$                         3,572

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Other liabilities

489

332

Lease liabilities

251

133

Warrant derivative

200

Total current liabilities

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7,662

4,237

Contract liability

6,730

6,730

Lease liabilities

813

290

Total liabilities

15,205

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11,257

Commitments

Shareholders’ equity

Share capital

  Authorized: unlimited

  Issued: September 30, 2024 – 77,074,089

  December 31, 2023 – 74,423,960

434,460

430,906

Contributed surplus

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43,640

42,116

Accumulated other comprehensive income

653

544

Accumulated deficit

(469,696)

(446,003)

Total shareholders’ equity

9,057

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27,563

Total liabilities and shareholders’ equity

$              24,262

$                       38,820

 

 

ONCOLYTICS BIOTECH INC.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS

(unaudited)

(in thousands of Canadian dollars, except share amounts)

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Three Months Ended
September 30,

Nine Months Ended
September 30,

2024

2023

2024

2023

Expenses

   Research and development

$              6,794

$              5,811

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$            17,095

$            13,051

   General and administrative

3,105

5,237

9,450

11,891

Loss before the following

(9,899)

(11,048)

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(26,545)

(24,942)

   Change in fair value of warrant derivative

229

515

1,333

439

   Foreign exchange (loss) gain

(122)

310

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579

(83)

   Interest income, net

261

305

1,047

837

Loss before income taxes

(9,531)

(9,918)

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(23,586)

(23,749)

   Income tax expense

(12)

(7)

(107)

(54)

Net loss

(9,543)

(9,925)

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(23,693)

(23,803)

Other comprehensive (loss) income items that may be
reclassified to net loss

  Translation adjustment

(69)

101

109

(7)

Net comprehensive loss

$            (9,612)

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$            (9,824)

$          (23,584)

$          (23,810)

Basic and diluted loss per common share

$              (0.12)

$              (0.14)

$              (0.31)

$              (0.36)

Weighted average number of shares (basic and
diluted)

77,016,848

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69,803,255

76,120,580

65,565,890

 

 

ONCOLYTICS BIOTECH INC.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(unaudited)

(in thousands of Canadian dollars)

Share Capital

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Contributed
Surplus

Accumulated
Other
Comprehensive
Income

Accumulated
Deficit

Total

As at December 31, 2022

$           404,040

$             40,051

$                     662

$         (418,251)

$             26,502

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Net loss and other comprehensive loss

(7)

(23,803)

(23,810)

Issued pursuant to stock option plan

662

(256)

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406

Issued pursuant to “At the Market” Agreement

9,128

9,128

Issued pursuant to public offering

17,724

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638

18,362

Share issue costs

(2,728)

(2,728)

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Share-based compensation expense

1,158

1,158

As at September 30, 2023

$           428,826

$             41,591

$                     655

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$         (442,054)

$             29,018

As at December 31, 2023

$           430,906

$             42,116

$                     544

$         (446,003)

$             27,563

Net loss and other comprehensive income

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109

(23,693)

(23,584)

Issued pursuant to incentive share award plan

3

(3)

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Issued pursuant to “At the Market” Agreement

4,062

4,062

Issued pursuant to warrant derivative exercised

71

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71

Share issue costs

(582)

(582)

Share-based compensation expense

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1,527

1,527

As at September 30, 2024

$           434,460

$             43,640

$                     653

$         (469,696)

$                9,057

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ONCOLYTICS BIOTECH INC.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(in thousands of Canadian dollars) 

Nine Months Ended September 30,

2024

2023

Operating Activities

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Net loss for the period

$               (23,693)

$              (23,803)

Depreciation – property and equipment

92

62

Depreciation – right-of-use-assets

234

234

Share-based compensation expense

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1,527

1,158

Compensation warrant expenses

151

Interest expense on lease liabilities

99

53

Unrealized foreign exchange (gain) loss

(544)

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21

Change in fair value of warrant derivative

(1,333)

(439)

Net change in non-cash working capital

4,498

239

Cash used in operating activities

(19,120)

(22,324)

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Investing Activities

Acquisition of property and equipment

(233)

(5)

Maturities of marketable securities

20,230

Cash (used in) provided by investing activities

(233)

20,225

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Financing Activities

Proceeds from exercise of stock options

406

Proceeds from exercise of warrant derivative

65

Proceeds from “At the Market” equity distribution agreement, net

3,480

8,790

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Proceeds from public offering

21,359

Payment of lease liabilities

(248)

(303)

Cash provided by financing activities

3,297

30,252

(Decrease) increase in cash and cash equivalents

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(16,056)

28,153

Cash and cash equivalents, beginning of period

34,912

11,666

Impact of foreign exchange on cash and cash equivalents

742

162

Cash and cash equivalents, end of period

$                 19,598

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$                39,981

 

About Oncolytics Biotech Inc.

Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in two randomized Phase 2 studies in metastatic breast cancer and Phase 1 and 2 studies in pancreatic cancer. It acts by inducing anti-cancer immune responses and promotes an inflamed tumor phenotype — turning “cold” tumors “hot” — through innate and adaptive immune responses to treat a variety of cancers.

Pelareorep has demonstrated synergies with multiple approved oncology treatments. Oncolytics is currently conducting and planning combination clinical trials with pelareorep in solid malignancies as it advances towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA. For further information, please visit: www.oncolyticsbiotech.com or follow the company on social media on LinkedIn and on X @oncolytics.

This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and forward-looking information under applicable Canadian securities laws (such forward-looking statements and forward-looking information are collectively referred to herein as “forward-looking statements”). Forward-looking statements contained in this press release include statements regarding Oncolytics’ belief as to the potential, mechanism of action and benefits of pelareorep as a cancer therapeutic, including pelareorep’s potential in HR+/HER2- metastatic breast cancer and the estimated overall survival benefit of pelareorep-based therapy; our belief that pelareorep is poised to advance to a registration-enabling study; continued development of our gastrointestinal cancer program; our expectations regarding the presentation of efficacy and safety data from anal and pancreatic cancer cohorts; the potential market and commercial opportunities for pelareorep; our confidence in pelareorep’s potential to meaningfully improve patient outcomes; Oncolytics’ projected cash runway; our plan to conduct a registration-enabling study to assess pelareorep-based combination therapy in patients with advanced HR+/HER2- breast cancer and the anticipated timing thereof; and other statements related to anticipated developments in Oncolytics’ business and technologies. In any forward-looking statement in which Oncolytics expresses an expectation or belief as to future results, such expectations or beliefs are expressed in good faith and are believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will be achieved. Such forward-looking statements involve known and unknown risks and uncertainties, which could cause Oncolytics’ actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the efficacy of pelareorep as a cancer treatment, the success and timely completion of clinical studies and trials, Oncolytics’ ability to successfully commercialize pelareorep, uncertainties related to the research and development of pharmaceuticals, uncertainties related to the regulatory process and general changes to the economic environment. We may incur expenses or delays relating to such events outside of our control, which could have a material adverse impact on our business, operating results and financial condition. Investors should consult Oncolytics’ quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake any obligation to update these forward-looking statements, except as required by applicable laws.

 

Company Contact

Jon Patton

Director of IR & Communication

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[email protected]

Investor Relations for Oncolytics

Timothy McCarthy

LifeSci Advisors

+1-917-679-9282

[email protected]

 

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Blockchain for Good Alliance Hosts Web3 Oscar, Celebrating Innovators Advancing UN’s Sustainable Development Goals

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DUBAI, UAE, Nov. 14, 2024 /PRNewswire/ — The highly anticipated Web3 Oscar, a prestigious event hosted by the Blockchain for Good Alliance (BGA), celebrating blockchain projects driving real-world impact aligned with the UN’s 17 Sustainable Development Goals (SDGs). Industry leaders gathered in Bangkok to honour innovators shaping a sustainable future.

The event was part of BGA’s November lineup, featuring two major initiatives for global change through blockchain: the Sustainable Innovation Summit and the Web3 Oscar Awards.

Sustainable Innovation Summit: A Hackathon for Social Impact

Held from September 9 to November 11, 2024, the Sustainable Innovation Summit hosted a hackathon with a $100,000 prize pool, inviting participants worldwide to create blockchain solutions addressing key issues such as poverty, clean water access, and gender equality. The summit concluded with a Demo Day at the Grand Hyatt Erawan in Bangkok, where finalists showcased their projects to blockchain pioneers, investors, and industry leaders, with opportunities for incubation support and equity-free funding.

Rising Stars

In a cinematic presentation style, 10 shortlisted projects from across the globe, participating in the Sustainable Innovation Summit’s 17 SDGs Challenge, took the stage. Each team presented their blockchain solutions to address sustainability challenges, telling the story of a “hero” confronting a global crisis (one of the 17 SDGs), with blockchain as the “tool” they wield for change.

Winners for the 17 SDGs Challenge:

  • 1st Place: Grand Social Impact Award 🥇 EthicHub
  • 2nd Place: Outstanding Social Innovation Award 🥈 Plastic Odyssey
  • 3rd Place: Emerging Impact Award 🥉 ResearchHub

Rising Star Awards (top 10 projects, in no specific order):

  • Wavy Health
  • LAKE (LAK3)
  • KulaDAO
  • erable°
  • arkreen
  • UCO Network
  • Edu3Labs

Web3 Oscar Awards: Honouring Leaders in Blockchain for Social Good

Coinciding with the hackathon’s Demo Day on November 11, the BGA Web3 Oscar Award recognizes individual contributions to blockchain for social good across three categories, with up to 7 total winners.

Each category highlights individual efforts aligning with BGA’s mission.

The Collaboration Bridge Award honours individuals who have played a vital role in guiding the strategic direction of the Blockchain for Good Alliance (BGA). This year’s recipients are:

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  • Harn, CEO of Trigger Asset Management
  • Mariana de la Roche Wills from INATBA (International Association for Trusted Blockchain Applications) and de la Roche W. Consulting

The Public Welfare Contribution Award celebrates individuals who have harnessed #BlockchainForGood. This award was presented to:

  • BreeAnne Yek, Consultant at The Verdant Room
  • Milica Dimitrijevic from Positiveblockchain.io

These individuals have demonstrated remarkable dedication, guidance, and pioneering work, significantly advancing the mission of the Blockchain for Good Alliance (BGA) in promoting sustainable development through blockchain technology.

In her closing remarks, Helen Liu, Co-founder and COO of Bybit and founder of BGA, explained how blockchain can bring people together to make a real difference worldwide. Her vision for leveraging blockchain to create worldwide impact was both inspiring and forward-thinking.

About Blockchain for Good Alliance (BGA)

The Blockchain for Good Alliance (BGA) is a long term collaborative non-profit initiative with key partners with the main aim to contribute to societal good by using blockchain technology to solve real world problems. By convening leaders, innovators, and organisations from across the blockchain community, BGA seeks to drive innovation, collaboration, and action towards a more sustainable and equitable world.

For more information

Email: [email protected]
Website: www.blockchainforgood.xyz
Twitter: www.twitter.com/chainforgood

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Volante Technologies launches real-time payments intelligence solution for financial institutions

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Volante Payments Intelligence gives all stakeholders a deep, accurate assessment of business performance, driving increased operational efficiency, time-to-market, internal innovation, and business growth

NEW YORK, Nov. 14, 2024 /PRNewswire/ — Volante Technologies, the global leader in Payments as a Service (PaaS), today announced the launch of Volante Payments Intelligence, a powerful new solution that offers financial institutions unparalleled visibility and operational control over their payments business. A modular component of the Volante Payments Platform, the solution enables banks to better understand their payments operations, simplifying decision-making while improving business performance.

Volante Payments Intelligence addresses the increasing volume and complexity of the payments landscape, driven by the proliferation of real-time payments, the adoption of ISO 20022, and the digitization of payment flows. The new offering harnesses historical and real-time payments data, delivering actionable intelligence that helps banks strategically plan, optimize operational efficiency, and accurately track performance.

As noted in the 2024 Corporate Banking IT Pressures & Priorities report from Celent, 60% of banks plan to increase migration of business-critical applications to the cloud by the end of 2025. Payments modernization now ranks as a top priority for corporate banks globally, signifying the need for solutions that provide intelligence across stakeholder viewpoints, streamline modernization efforts, and simplify operations.

“In a world where the volume and complexity of payments is increasing, operational resilience and efficiency are more important than ever. Managing through this requires banks to have instant insight into payment flows, operational performance, and the ability to quickly address issues,” said Gareth Lodge, Principal Analyst at Celent.

Volante Payments Intelligence reduces the time banks spend on manual reporting and allows them to prioritize operational efforts more effectively, staying ahead of regulatory demands. With enhanced observability, users can achieve more precise performance tracking, improving their ability to mitigate risks and adapt to market changes.

As financial institutions navigate an increasingly regulated environment, Volante Payments Intelligence offers critical tools to support resilience and compliance. The solution’s integration into existing systems and ease of deployment in private or hybrid cloud environments or as part of Volante’s PaaS offering ensures that institutions can start seeing results immediately.

“We developed Volante Payments Intelligence as a transformative solution, crafted in close collaboration with a diverse range of our customers to address a critical gap no other platform could fill: Delivering actionable, measurable, and personalized business intelligence in real-time,” said Deepak Gupta, EVP, Product, Engineering & Services, Volante Technologies.

“Payments Intelligence doesn’t just bridge the shortcomings of existing intelligence solutions; it redefines what business intelligence can achieve, empowering Volante customers, from small enterprises to global institutions, to unlock new heights in their operational efficiency and strategic growth. This continues Volante’s track record of, and our valued commitment to, driving time-to-market speed, innovation, and business growth for our customers,” concluded Gupta.

Volante plans to continue its innovation drive within Payments Intelligence through the addition of advanced dashboards to provide operators, managers, and executives with a more complete view of their payments business. By adding exception management, payment controls, and new AI-driven capabilities, financial institutions will be able to monitor and identify market dynamics more effectively.

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For a deeper dive or to schedule a demo, visit volantetech.com/payments-intelligence.

On behalf of Volante Technologies:  

Americas  
Julian Byrne
anthonyBarnum
Public Relations
Tel. +1 (512) 665-9258
[email protected]

EMEA  
Assyria Graves
Hard Numbers
Tel: +447507870214
[email protected]
[email protected] 

About Volante Technologies
Volante Technologies is the trusted cloud payments modernization partner to financial businesses worldwide, giving them the freedom to evolve and innovate at record speed. Real-time native, API enabled, and ISO 20022 fluent, Volante’s Payments as a Service and underlying low-code platform process millions of mission-critical transactions and trillions in value daily. Volante’s customers include four of the top five global corporate banks, seven of the top ten U.S. banks, and two of the world’s largest card networks. Learn more at www.volantetech.com and linkedin.com/company/volante-technologies.

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IBM Champions Generative AI and Automation to Safeguard Security Across AWS Environments

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IBM’s Autonomous Security for Cloud solution to help organizations transition to cloud-based environments using Amazon Bedrock’s generative artificial intelligence (AI) to streamline and automate security and compliance tasks

ARMONK, N.Y., Nov. 14, 2024 /PRNewswire/ — IBM (NYSE: IBM) today announced Autonomous Security for Cloud (ASC), an AI-powered solution from IBM Consulting designed to automate cloud security management and decision-making to help mitigate risk for organizations accelerating their cloud journey on Amazon Web Services (AWS) environments.

Highlighted in IBM’s 2024 Cloud Threat Landscape report, misconfigurations and compliance failures were identified as the top threats organizations face as they increasingly rely on cloud computing environments. Yet, in a technology landscape where security is non-negotiable, maintaining compliance and security can be complex, especially in highly regulated industries such as financial services, manufacturing and the public sector where legacy, labor-intensive compliance processes can be slow to evolve to rapidly changing cloud infrastructures and the strict regulatory standards required to protect data.

For organizations focused on cloud-based architectures, security management requires robust and specific policies and configurations to mitigate potential risks. To address those needs, IBM’s ASC solution will leverage Amazon Bedrock generative AI technology to automate, evolve and enforce client-chosen security controls quickly.

“Insights from theCUBE Research shows that 96% of organizations continue to embrace cloud transformation, which intensifies the challenge of managing and securing data,” said Dave Vellante, Chief Analyst and co-founder of theCUBE Research. “Generative AI-driven automation has the potential to be a game-changer, empowering companies to swiftly adapt, enforce, and control data policies.”

Using generative AI, automation to alleviate cloud security management challenges
Using generative AI for autonomous decisions, ASC aims to help ease operational burdens, accelerate deployment and management and mitigate risks by offering continuous monitoring, immediate adjustments and proactive threat mitigation, all designed to minimize manual work. Augmenting traditional Cloud Security Posture Management (CSPM) solutions, ASC will provide a tailored approach to cloud security management by harnessing AI-powered intelligence to consider the client-chosen control framework, along with future updates. In addition, the ASC solution is designed to automate and enforce hygiene maintenance, resolve misconfigurations, and reduce and address long-term policy drift.

“IBM recognized the opportunity for our clients to better manage and enforce security policies in their cloud environments,” said Dimple Ahluwalia, Global Business Information Security Officer and Senior Partner for Cybersecurity Services at IBM. “With ASC, we’re utilizing AI and automation tools to help organizations better manage their data, tackle cloud migration challenges and positively impact their compliance posture, to deliver value to stakeholders across the C-suite.”

As a scalable cloud solution, ASC is designed to help clients:

  • Harness the power of generative AI to understand clients’ security policies and standards using large language models (LLMs) and retrieval-augmented generative (RAG) applications;
  • Infer AWS native technical controls that apply to an organization’s workloads based on the client-chosen regulatory obligations;
  • Autonomously monitor and deploy cloud security controls to mitigate misconfigurations; and,
  • Address their non-compliance discrepancies using cloud-native automation.

And, for client security teams that spend months mapping security policies, aligning them with regulations and transforming them into scripts, ASC also seeks to accelerate the time spent on policy deployment using a combination of generative AI and cloud-native automation.

Accelerating Cloud Transformation with IBM and AWS
The introduction of ASC underscores IBM’s commitment to helping mutual clients harness the power of AWS. By combining IBM’s expertise in cloud transformation with AWS, ASC will allow clients to accelerate their cloud adoption and unlock new opportunities for business transformation and growth.

Beginning with deployment and onboarding, IBM consultants with cloud certifications and AWS expertise can assist clients utilizing ASC with tailored assessments, continuous monitoring and optimization, and proactive risk and compliance management. In addition, IBM Consulting can support ASC integration on AWS to address client’s evolving cloud infrastructure needs with the goal of improving accuracy and effectiveness over time.

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IBM’s ASC solution will be generally available globally beginning in December 2024 and showcased during an AWS re:Invent 2024 session titled, “Harnessing AI for Autonomous Cloud Security: IBM & AWS Game-Changing Solution.” For more information on IBM’s Autonomous Security for Cloud solution, visit: https://www.ibm.com/services/autonomous-security-cloud.

Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only.

About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.

Visit www.ibm.com/ for more information.

IBM Contacts:

Joel Rushing
[email protected] 

Alex Prevor
[email protected] 

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