NEW YORK, Dec. 18, 2024 /PRNewswire/ — The New York Stock Exchange (NYSE) is proud to offer a new daily pre-market update and additional content directly from the iconic NYSE Trading Floor.

Access the new Daily NYSE Pre-market update and additional content here: https://www.multivu.com/nyse/9306251-en-new-york-stock-exchange-pre-market-update

DAILY NYSE PRE-MARKET UPDATE
Kristen Scholer, Senior Markets Anchor, NYSE, delivers a daily pre-market update that includes key insights into the trading day ahead leading up to the NYSE’s Opening Bell.

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BEIJING and BRIDGEWATER, N.J., Dec. 18, 2024 /PRNewswire/ — Gan & Lee Pharmaceuticals (Gan & Lee, Shanghai Stock Exchange: 603087.SH), is pleased to announce that the Food and Drug Administration (” FDA “) has cleared the Investigational New Drug (IND) application for GZR18 Injection to conduct a phase 2 clinical trial, a head-to-head with Tirzepatide from Eli Lilly and Company (NYSE: LLY) in the US (NCT06737042). GZR18 is a long-acting glucagon-like peptide-1 (GLP-1) receptor agonist (RA) being developed by Gan & Lee Pharmaceuticals. The clinical trial indication of this application is the chronic weight management for obese or overweight patients, with or without T2DM.

According to the latest data released by the World Obesity Federation (WOF) Global Obesity Report (2024), approximately 2.2 billion adults worldwide were overweight (referring to BMI ≥ 25kg/m²) in 2020, accounting for about 42% of the total adult population. It is expected that this number will rise to 3.3 billion by 2035¹. Obesity can lead to a series of complications, including diabetes, cardiovascular diseases and even mental diseases such as depression. The medical expenses caused by obesity and its complications have brought a heavy medical burden to patients and society.

GZR18, as a GLP-1 receptor agonist, can delay gastric emptying by activating GLP-1 receptors expressed on the gastrointestinal tract; and enhance satiety and suppress appetite by activating GLP-1 receptors in the hypothalamus and other parts, thereby reducing the patient’s weight. GZR18 injection is the first bi–weekly GLP-1 mono-agonist formulation. Current clinical data has demonstrated weight loss effects comparable to or even better than multi-target once-weekly GLP-1 formulations, providing new insights for the future development of GLP-1 drugs. The development of the bi-weekly GZR18 injection is expected to offer more flexible treatment options for obese patients , leading to improved long-term weight management efficacy and adherence.

About GZR18

GZR18 is a long-acting glucagon-like peptide-1 (GLP-1) receptor agonist (RA) being developed by Gan & Lee Pharmaceuticals. The indications currently under development are type 2 diabetes and chronic weight management for obese or overweight patients. Clinical data shows that administering GZR18 injection once a week and every two weeks can achieve good hypoglycemic or weight loss effects².

References:

1. World Obesity Alliance 2024 World Obesity Report [EB/OL]. London: World Obesity Alliance,

2. LINONG JI, WEI CHEN, RUIHUA DONG, MINGXIA YUAN, DONG ZHAO, SHUGUANG PANG, LIYUAN ZHAO, JING ZHAO, ZHONG-RU GAN; 1858-LB: A Novel GLP-1 Analog, GZR18, Induced an 18.6% Weight Reduction in Subjects with Obesity in a Phase Ib/IIa Trial. Diabetes 14 June 2024; 73 (Supplement_1): 1858–LB. https://doi.org/10.2337/db24-1858-LB  

About Gan & Lee

Gan & Lee Pharmaceuticals developed the first Chinese domestic insulin analog. Currently, Gan & Lee has six core insulin products, including five insulin analog varieties: long-acting glargine injection (Basalin^®), fast-acting lispro injection (Prandilin^™), fast-acting aspart injection (Rapilin^®), mixed protamine zinc lispro injection (25R) (Prandilin^™25), aspart 30 injection (Rapilin^®30), and one human insulin injection – mixed protamine human insulin injection (30R) (Similin^®30). The company has two approved medical devices in China, namely reusable insulin injection pen (GanleePen), and disposable pen needle (GanleeFine^®).

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In China’s 2024 National Insulin-Specific Centralized Procurement, Gan & Lee Pharmaceuticals ranked first among all selected companies in terms of procurement demand for insulin analogs. The company is also making strides in international markets, with the disposable pen needle (GanleeFine^®) approved by the US Food and Drug Administration (FDA) in 2020 and received GMP inspection approval from the European Medicines Agency (EMA) in 2024. These achievements significantly boost Gan & Lee’s competitiveness in both international and domestic markets.

In the future, Gan & Lee will strive for comprehensive coverage in diabetes treatment. Moving forward with its mission to become a world-class pharmaceutical company, Gan & Lee will also actively develop new chemical entities and biological drugs, focusing on treatments for metabolic diseases, cardiovascular diseases, and other therapeutic areas.

Further Information: 
[email protected] (Media) 
[email protected] (Business Development)
[email protected] (Medical Information)

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Project in partnership with AUO starts on January 1, 2025

MANCHESTER, England, Dec. 18, 2024 /PRNewswire/ — Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), has received and accepted a £900,000 (USD 1.1 million) grant from Innovate UK for its previously announced project partnership with AUO to develop a rollable, transparent microLED display. Part of the 2024 UK-Taiwan Collaborative R&D Initiative, the 2-year project will commence on January 1, 2025, with initial grant payments beginning in the first quarter of 2025.

About the 2024 UK-Taiwan Collaborative R&D Initiative

The 2024 UK-Taiwan Collaborative R&D Initiative has invested more than £10 million this year to promote bilateral industrial technology research and development cooperation. The nine award-winning projects will promote the joint development of advanced technologies in fields such as electrical information communication, biomedicine, and electromechanical by Taiwan-UK enterprises.

About Smartkem

Smartkem is seeking to reshape the world of electronics with its disruptive organic thin-film transistors (OTFTs) that have the potential to revolutionize the display industry.  Smartkem’s patented TRUFLEX® liquid semiconductor polymers can be used to make a new type of transistor that can be used in a number of display technologies, including next generation microLED displays. Smartkem’s organic inks enable low temperature printing processes that are compatible with existing manufacturing infrastructure to deliver low-cost displays that outperform existing technology.

Smartkem develops its materials at its research and development facility in Manchester, UK and provides prototyping services at the Centre for Process Innovation (CPI) at Sedgefield, UK. It has a field application office in Taiwan. The company has an extensive IP portfolio including 138 granted patents across 18 patent families, 16 pending patents and 40 codified trade secrets. For more information, visit: www.Smartkem.com and follow us on LinkedIn http://www.linkedin.com/company/Smartkem-limited.

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements, including, among other things, its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on Smartkem Inc.’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or elated expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

Contacts:
Selena Kirkwood
Head of Communications for Smartkem
T: +44 (0) 7971 460 364
[email protected]

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U.S. Investors
David Barnard, CFA
Alliance Advisors Investor Relations
T: 1 415 433 3777
[email protected]

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