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British fintech Nimbla attracts £5.1m investment as embedded insurance takes off

Stockwood Strategy

Fintech business insurance startup Nimbla has today announced a £5.1m funding round led by Silicon Valley venture fund Fin VC with participation from Barclays Bank. The funding comes as Nimbla seeks to scale its operations with increased demand from embedded credit risk solutions through its API with banks and alternative lending platforms. Founded in 2016, the Nimbla platform has given businesses the confidence to trade with a peace of mind using invoice insurance with quotes provided within seconds. Their proprietary digital automated credit risk platform is able to process requests immediately and provide real time quotes. Nimbla has processed over 67m invoices worth £2.5b. During the pandemic, volumes of invoices tripled as economic uncertainty and supply chain concerns increased and Nimbla continued writing new business. Flemming Bengtsen, CEO at Nimbla commented: “We have been growing steadily over the past few years, ramping up our technology and team to better understand businesses, the nature of B2B debt and to make faster decisions to serve our growing customer base. 2020 was a seminal year for Nimbla, at a time of global crisis, we were there for businesses enabling them to trade with a peace of mind and giving them confidence to carry on. This funding round will enable us to expand our platform, grow the team as we enable a confident and trusted trading environment for businesses across the UK and beyond”. Nimbla has worked directly with businesses and brokers to provide invoice insurance cover and more recently has launched a new API for Banks, fintech lenders and B2B platforms to enable more business to access the service. Nimbla partnered with Barclays Bank in 2020 to give their one million small business customers the ability to take out insurance against individual invoices, rather than the whole book. “We have built a powerful and robust credit risk model, automated large parts of the process and have now launched a new API to enable others to embed seamless credit risk solutions into their platforms” added Flemming Bengtsen. On investing in funding round Henry Cashin, Head of EMEA at Fin VC, commented: “Nimbla is giving businesses the confidence to trade again. They have a proven credit risk model and its tech is being adopted by top tier banks and a host of lending platforms. We believe this will scale their reach and help more businesses benefit long term”. Looking ahead, Flemming Bengtsen commented: “UK companies have added £1.9tn debt in 2020 to their balance sheets, taking the total amount outstanding to over £6.6tn. This number was inflated by the various government loan schemes. Over half of them are carrying ‘toxic debts’ which carries enormous risk for their trade creditors, there is a huge opportunity and responsibility for Nimbla to give companies a peace of mind and insure their invoices against insolvencies”. About Nimbla Nimbla makes sure businesses get paid for their hard work, even if a customer becomes insolvent. Founded in 2016, the company is on a mission to give SMEs the confidence to trade with a peace of mind using invoice insurance. Nimbla’s digital insurance platform backed by expert risk analysts, allows businesses to check a buyer’s ability to pay and insure individual invoices against non-payment in a fast and affordable way. This will enable business owners to safeguard against insolvent customers, expand into new and existing markets and secure better borrowing terms. The platform can be accessed directly (www.nimbla.com) and through partnerships with Barclays and insurance brokers. Based in London, Nimbla aims to bring the trade credit industry into the 21st century. Challenging traditional insurance models, the cover is flexible and adapts to fit your business — whether it’s a one-off invoice or multiple transactions. Contact Details Nimbla Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.nimbla.com/

November 03, 2021 08:00 AM Eastern Daylight Time

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Quidel Corporation to Sponsor Distinguished Speaker Series Conducted by the Bay Area Lyme Foundation

Quidel Corporation

Quidel Corporation announced today that it will serve as sponsor for the upcoming Distinguished Speaker Series being conducted by the Bay Area Lyme Foundation. Quidel is a California-based diagnostic health care manufacturer known for successfully developing rapid diagnostic health solutions, including the industry-leading Sofia ® 2 Lyme FIA test for Lyme disease. The Distinguished Speaker Series are free community events that provide new information on various Lyme-related topics. Speakers typically feature an esteemed scientific researcher paired with a Lyme survivor sharing their inspirational story in an open-discussion format. The events are designed to create a more informed, connected and inspired public, which, in turn, will lead to stronger families, schools, businesses and communities. “We share the Bay Area Lyme Foundation’s mission to make Lyme disease easy to diagnose and simple to cure,” said Judi Tilghman, Ph.D., vice president of technology assessment at Quidel. “Over the years the Foundation has collaborated with world-class scientists and institutions to accelerate medical breakthroughs for Lyme disease and to build a more informed and engaged public. We are honored to sponsor this important speakers series in support of those efforts.” On Nov. 3, the series will feature a researcher, physician and Lyme patient advocate who will discuss how the immune system “can protect or attack” when it comes to Lyme disease. The discussion will focus on the importance of using a broad and comprehensive diagnostic and treatment approach to Lyme disease. Speakers include Liz Horn, Ph.D., MBI, principal investigator, Lyme Disease Biobank, and principal, LHC Biosolutions; Victoria Blaho, Ph.D., assistant professor, Sanford Burnham Prebys, Immunity and Pathogenesis Program; and David N. Haney, Ph.D., researcher and family caregiver. The Nov. 3 event will be held from 4-7 p.m. in the Sanford Burnham Prebys Medical Discovery Institute in San Diego. Reservations are required and can be made at SpeakerSeries@bayarealyme.org or by calling 650-530-2684. Full vaccination is required for this venue. Lyme disease is on the rise to record numbers throughout the country and has the potential to affect as many as 476,000 citizens before the year is out. Leading the way in Lyme disease testing is the innovative Sofia ® 2 Lyme FIA by Quidel. This revolutionary test provides the patient and physician with indicative results within 15 minutes, as opposed to days, which has historically been the norm (and during which time organisms can spread and become systemic). It can be performed in the privacy of a doctor’s office, local clinic or even by a nurse at a children’s summer camp; and it is the only test that can get results from a simple finger prick of blood. About Quidel Corporation Quidel Corporation (Nasdaq: QDEL) is a leading manufacturer of diagnostic solutions at the point of care, delivering a continuum of rapid testing technologies that further improve the quality of health care throughout the globe. An innovator for over 40 years in the medical device industry, Quidel pioneered the first FDA-cleared point-of-care test for influenza in 1999 and was the first to market a rapid SARS-CoV-2 antigen test in the U.S. Under trusted brand names, Sofia®, Solana®, Lyra®, Triage® and QuickVue®, Quidel’s comprehensive product portfolio includes tests for a wide range of infectious diseases, cardiac and autoimmune biomarkers, as well as a host of products to detect COVID-19. With products made in America, Quidel’s mission is to provide patients with immediate and frequent access to highly accurate, affordable testing for the good of our families, our communities and the world. For more information about Quidel, visit quidel.com. Contact Details breakwhitelight JAMES YEAGER Yeager +1 818-264-6812 jim@breakwhitelight.com Company Website http://Quidel.com

November 02, 2021 09:44 AM Pacific Daylight Time

SMEs “keep calm and carry on” despite rising costs from suppliers

Stockwood Strategy

Supply chain issues and increasing costs have impacted SMEs countrywide and yet they seem to be handling it in their usual resilient stride. Fintech business lender MarketFinance asked 1,000 SME owners 1 across the UK how they are managing rising supplier prices, what measures they have put in place and sought their long term outlook on the increasing costs of doing business. Supplier costs Four out of five (79%) SMEs have faced increased prices from suppliers over the past 6 months. An increase of cost of raw materials was the top ranked rationale for price increases by suppliers, most keenly felt by businesses in the north west of England (85%). This was followed by staff shortages, the ongoing impact of the pandemic slowdown and supply chain disruptions owing to a shortage of truck drivers. Across the UK, a quarter of SMEs reported supplier prices have almost doubled over the past 6 months. Impact A third of SMEs (32%) have been able to absorb the increased costs without passing them on to customers, suggesting that these businesses have the necessary cash reserves to handle the impact. Only a fifth (21%) are passing a portion of the increased costs onto customers. Businesses in the south west of England and Northern Ireland are least likely to absorb the costs while businesses in the north west and Yorkshire are the most likely to do so. Their customers are proving to be equally understanding of the wider supply chain situation with only a fifth (20%) challenging business owners about the price rises. Outlook Looking ahead to the festive season, SMEs feel they will be able to manage the situation but some could increase prices if the pressure gets too much. Two fifths reported they could increase their prices by as much as 10% in the run up to Christmas. Longer term, three quarters (73%) of SMEs are already preparing for the current higher prices to be the norm until at least the end of 2022. A third of SMEs (34%) have taken out loans or are using other finance facilities to manage the increased cost of doing business. Anil Stocker, CEO at MarketFinance, commented: “ The current economic environment with rising costs is presenting some headwinds and headaches for SME owners but they are proving to be as resilient as ever. The vast majority have been thinking ahead and accounted for the longer term scenario, which will hold them in good stead to do business. It’s great to see that SME owners are taking the long view and preserving their customer relationships and managing suppliers by having a finance facility in place to deal with the overhead for now. The British Business Bank announced last week that it will extend its Recovery Loan Scheme to June 2022. This extension will give SMEs easier access to more affordable finance they need to continue running and growing operations in the face of ongoing challenges such as staff shortages and supplier price increases.” 1 Research findings based on a survey of 1,000 UK companies (who are employers with a minimum turnover of £100,000) conducted for MarketFinance in October 2021 by LMRMC Research (a Market Research Society approved partner and ESOMAR corporate member). About MarketFinance MarketFinance is a fintech business lender which believes that SMEs are building the world. By making finance frictionless, they’re solving the cash flow issues getting in the way of progress. MarketFinance uses smart technology to deliver better access to faster, more affordable finance; with one-to-one help whenever businesses need it. Since 2011, MarketFinance has advanced over £2.6 billion worth of invoices and loans, enabling thousands of UK businesses to bridge today’s funding gaps and fuel tomorrow’s big ambitions. MarketFinance is an accredited Recover Loan Scheme lender and has a wide-reaching network of strategic partners including Barclays Bank UK PLC, Tide, Equals Group and Ebury. MarketFinance is backed by Barclays Bank UK PLC, Mouro Capital, Paul Forster (co-founder of Indeed.com) European venture capital fund Northzone (invested in Klarna, iZettle and Trustpilot), Viola Capital and private equity group MCI Capital (also invested in iZettle, Azimo and Gett). Contact Details MarketFinance Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://marketfinance.com/

November 02, 2021 10:00 AM Eastern Daylight Time

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Code 1 Supply Named as A Distributor for NIDS® COVID-19 Antigen Rapid Test for COVID-19 from ANP Technologies, Inc.

Code 1 Supply

November 1, 2021 – Code 1 Supply, a leading distributor of best-in-class medical diagnostics, brand-name supplies and equipment and provider of CPR training equipment and student materials, has been named as a distributor of an innovative new point-of-care COVID-19 test, the NIDS® COVID-19 Antigen Rapid Test from ANP Technologies®, Inc. ("ANP"). The NIDS® COVID-19 Antigen Rapid Test is a highly sensitive test for the detection of SARS-CoV-2 nucleocapsid protein in nasal swab specimens. In addition to over 95% Positive Percent Agreement (PPA) with the RT-PCR comparator method during clinical testing, ANP’s COVID-19 Antigen Rapid Test has also demonstrated to be effective at detecting various variants including Delta, as independently validated as part of the National Health Institute (NIH) Rapid Acceleration of Diagnostics (RADx SM ) initiative. “We are excited to enter a distribution collaboration with ANP to offer their NIDS COVID-19 Antigen Rapid Test at a national scale,” said Matt Regan, CEO at Code 1 Supply. “As cases have fallen throughout the country, it’s more important than ever to ensure proper detection of new COVID infections in order to continue to control disease spread. ANP’s NIDS COVID-19 Antigen Rapid Test is over 95% sensitive, and provides results in as little as 15 minutes, which will help mitigate infection transmission and allow for quick intervention and quarantine to quell further circulation of the virus in the community.” Code 1 Supply delivers best-in-class medical diagnostics and brand-name supplies and equipment when and where they are needed most. The company carries innovative next-generation rapid diagnostics for accurate, low-cost, high volume COVID-19 testing and provides exceptional customer service and expertise. They have been a leader in COVID-19 diagnostics since the beginning of the pandemic, helping to supply medical professionals with sufficient testing supplies and equipment worldwide. Now, with FDA Emergency Use Authorization of the NIDS COVID-19 Antigen Rapid Test, Code 1 Supply is prepared to ship millions of tests to fulfill ongoing needs. “With this pivotal FDA authorization, we are thrilled to establish this distribution collaboration with Code 1 Supply to quickly expand testing accessibility and extend our reach to healthcare providers with a much simpler option for rapid antigen detection on-site, and with minimal wait time,” said Greg Witham, Sr. Director of Business Development, ANP. “Code 1 Supply offers an unmatched level of service and easy ordering platform, making our decision for distribution of the NIDS COVID-19 Antigen Rapid Test simple. We look forward to enhancing testing availability nationwide through this distribution collaboration.” The point-of-care NIDS COVID-19 Antigen Rapid Test is available through Code 1 Supply. To learn more about how the company can support your COVID-19 testing needs, please visit https://www.code1supply.com/nids_rapid_test.html. The NIDS COVID-19 Antigen Rapid Test has not been FDA cleared or approved, but has been authorized by FDA under an Emergency Use Authorization (EUA) for use by authorized laboratories. This product has been authorized only for the detection of proteins from SARS-CoV-2, not for any other viruses or pathogens. The emergency use of this product is only authorized for the duration of the declaration that circumstances exist justifying the authorization of emergency use of in vitro diagnostics for detection and/or diagnosis of COVID-19 under Section 564(b)(1) of the Federal Food, Drug and Cosmetic Act, 21 U.S.C. § 360bbb-3(b)(1), unless the declaration is terminated or authorization is revoked sooner. About Code 1 Supply Code 1 Supply is an international distributor of best-in-class medical diagnostics, brand-name supplies, and equipment, and a leading provider of CPR training equipment and student materials. Representing the most trusted and respected manufacturers of medical diagnostics, supplies and equipment, Code 1 Supply is committed to providing innovative products and outstanding services at the best prices. We are proud to be the medical supply partner for healthcare providers, hospitals, urgent care centers, businesses and communities worldwide. For more information, visit www.code1supply.com. About ANP Technologies, Inc. ANP Technologies, Inc. is a clinical stage biopharmaceutical company and a world leader in developing innovative nano-therapeutics and nano-diagnostic tests. ANP has been a premier provider to supply its rapid multiplexed lateral flow tests for the detection of various biological agents to the Department of Defense in the past 15 years, as well as successfully licensed various pre-clinical and clinical stage nanotherapeutics to companies such as Celgene/BMS and Fulgent Pharma. Visit https://www.anptinc.com for more information. # # # Contact Details SVM Public Relations Rita Murphy +1 774-454-1516 rita.murphy@svmpr.com Company Website https://www.code1supply.com/

November 01, 2021 12:30 PM Eastern Daylight Time

Omega Healthcare Announces Senior Leadership Changes to Usher in the Next Phase of its Growth Journey

Omega Healthcare

Omega Healthcare Management Services (“Omega”), a leading provider of technology-enabled business process services across the healthcare ecosystem, announced today that co-founder and current Chief Executive Officer Gopi Natarajan has decided to retire after 18 years of leading the firm. Co-founder and President Anurag Mehta has been appointed as the Company’s new Chief Executive Officer, effective November 01, 2021. Gopi co-founded Omega Healthcare in 2003 with Anurag Mehta and has been instrumental in building the company to be the leader in the tech-enabled healthcare solutions industry. He has had a tremendous impact on Omega, mentored the firm’s senior leadership over the years, and helped drive innovations in the healthcare industry. “As a platform, Omega is extremely well positioned in the healthcare services market to continue to be a leader. With Anurag and Sumithra at the helm, the company is poised to scale greater heights supported by the able senior leadership talent. I wish them the very best in their new roles,” Gopi commented. He will continue to be closely associated with Omega as a key advisor to the Company in several capacities. “I have had the privilege of working with Gopi for over 20 years now. Not only has he been an invaluable leader for Omega, but he has also been an incredible business partner and friend. I am delighted that he will stay connected as an advisor to the company. I would also like to congratulate Sumithra on her new role. Her invaluable experience will help Omega strengthen its market-leading position,” said Anurag. With more than 20 years of experience within the healthcare industry, Anurag will be instrumental in driving the Company’s next phase of expansion. As a co-founder of Omega, Anurag has a deep understanding of the business and is well poised to spearhead the organization into its next phase of growth with his strong leadership and extensive healthcare industry relationships. Omega also announced today that a current member of the Board of Directors, Sumithra Gomatam, has been appointed as the Executive Chair of the Omega board. Sumithra brings over 30 years of experience in the information technology and business process services industry. She most recently held several senior roles at Cognizant, a publicly-listed global professional services company, where she spent over 24 years. At Cognizant, she was President of Digital Operations, which she scaled to nearly $2 Billion in revenues and transformed it to be technology-driven with Intelligent Process Automation and Platforms and a significant focus on Healthcare and Big Tech clients. Prior to that, she was at Tata Consultancy Services, a publicly-listed global IT services, consulting, and business solutions organization. “It has been a pleasure to work with the Omega team for the last year. I look forward to continue to work closely with the Omega leadership to accelerate growth in the business, provide customer excellence, and drive deeper technology into our processes,” Sumithra noted. She will strengthen the leadership and work closely with Anurag and the senior management team to drive strategy and scale the organization. About Omega Healthcare Management Services Founded in 2003, Omega helps payers, providers, and pharmaceutical companies eliminate administrative burdens, accelerate cash flow, and reduce health management costs while enhancing patient care. The company streamlines medical billing, coding, and collections processes and provides virtual nursing services, including triage, care continuation, clinical documentation improvement, and re-admittance avoidance. Combining the largest medical coding staff in the world with proprietary technology, analytics, and automation capabilities, Omega provides the most comprehensive outsourced solutions in the industry and is ranked among the top revenue cycle management business process services by industry analysts. Omega, backed by Goldman Sachs Asset Management and Everstone Group, has about 19,000 employees across India, the Philippines, and the United States. For more information, visit www.OmegaHMS.com Contact Details Omega Healthcare Management Services Kristy Gierosky Kristy.Gierosky@omegahms.com

November 01, 2021 10:26 AM Eastern Daylight Time

Greenland’s Prime Minister to Keynote ZESTAs COP26 Burns Supper

Morgan Marketing & Communications

Prime Minister of Greenland, Múte Bourup Egede, will be delivering the keynote address at ZESTAs COP26 Burns Supper on Monday, November 1 st hosted by SHIFT clean energy. The supper will conclude the first day of Ship ZERO hosted by ZESTAs (Zero Emissions Ship Technology Association) in Glasgow as part of the COP26 activities. It is expected that the Prime Minister will be announcing a major Greenland government initiative relating to fossil fuel use. "With the Arctic warming at a rate three times faster than the rest of the world, we are in Greenland experiencing the drastic changes first-hand “stated the Prime Minister. “The science is alarming and our collective actions must be accelerated. That is why the Government of Greenland has announced an immediate halt to all new oil and gas explorations and are putting all efforts into developing our green energy sources. We believe that Greenland can become an important partner for zero-emission shipping. We have huge untapped hydropower resources that exceed our domestic demand multiple times, which can generate cheap renewable electricity for e-fuels, and we have an infrastructure well suited for being early adapters." “Ship ZERO 0 – Charging to True Zero” is a three-day workshop including robust technical presentations from zero-emissions solutions providers, as well as finance, insurance, classification sectors and regulators. Speakers’ panels, audience Q&A, and brainstorming sessions will follow each session to facilitate collaborative solution building, as well as giving stakeholders an opportunity to examine how solutions will fit with their individual business cases. The event takes place well before COP26 transport day, which will give the team of researchers and stakeholders time to summarize the outcomes to be taken in consideration by regulators beforehand. “We are honored that Prime Minister Egede will be making such a pivotal keynote address as part of our event”, stated Madadh MacLaine, Secretary-General of ZESTAs. “His leadership will resonate around the globe as we address a zero emission future.” Highlights of the ShipZERO conference include a keynote by Peter Thomson, Ambassador and Permanent Representative of Fiji to the United Nations as well as the UNSG’s Special Envoy for the Ocean on A healthy planet requires a healthy ocean, a healthy ocean requires clean shipping; Why Zero Emissions Needs Better Battery Safety Standards, delivered by Brent Perry, ZESTAs Board Chair and CEO of SHIFT; and How Financiers, Insurers and Cargo owners can enable innovation and accelerate the transition to true zero emissions from Michael Parker, Chairman of Global Shipping, Citibank and Chairman of the Poseidon Principles Association. Registration is still open, and media are welcome. Go to https://zestas.org/ship-zero/ The Zero Emissions Ship Technology Association promotes the rapid and large-scale uptake of Zero Emissions Ship Technology (ZEST). Zero emissions means zero GHG emissions at the point of use on the vessel with minimal upstream impacts. By combining zero emission technologies, it is possible to achieve zero emissions at the shipboard level faster. With today’s technologies, the shipping industry can achieve fully zero emissions now, particularly on smaller return to base vessels, as well as drastically reduce emissions on larger, ocean-going vessels with more complicated operational profiles. Contact Details Morgan Marketing & Communications Carleen Lyden Walker +1 203-260-0480 c.walker@morganmarketcomm.com Company Website https://morganmarketcomm.com/

October 29, 2021 01:00 PM Eastern Daylight Time

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Patients Paying Less for Generic Medicines Year-over-Year: The Safe & Effective Solution for Skyrocketing Prescription Drug Prices

YourUpdateTV

FDA-approved generic and biosimilar medicines are central to America’s health care, filling nine out of ten prescriptions dispensed in the United States. Recently, Dan Leonard, President and CEO of the Association for Accessible Medicines (AAM), partnered with YourUpdate TV on a nationwide media tour to discuss why reliable, affordable, high-quality prescription medication is more important than ever. A video accompanying this announcement is available at: https://youtu.be/Lw7uhywvWAY Polling shows drug prices and the cost of health care is the number one concerns for most Americans. These nearly 4 billion generic and biosimilar prescriptions are central to containing costs for patients because unlike other sectors of U.S. health care, their prices are falling year after year. Throughout the pandemic, safe, effective and affordable generic medicines have been readily available to all of America’s patients, whether they are maintaining a chronic health condition or fighting COVID in the hospital. A resilient global supply chain with a strong U.S. presence made sure generic prescriptions were filled even as other consumer goods faced shortages. The Association for Accessible Medicines (AAM), the trade association of generic and biosimilar manufacturers, just released its 2021 Savings Report detailing the economic benefit of generic and biosimilar drugs to America’s patients. Here are five important highlights: U.S. health care system saved $338 billion in 2020 through the use of generic and biosimilar drugs. Generics fill 90% of prescriptions but account for only 18% of prescription spending 93% of generic prescriptions have a copay under $20.Average generic copay is $6 (versus $63 for brand name drugs) Biosimilar medicines, new competitors to expensive biologic drugs, have cut the growth rate of spending on cancer drugs in half To learn more about 2021 U.S. Generic and Biosimilar Medicines Savings Report, visit: accessiblemeds.org About Dan Leonard: President and Chief Executive Officer of the Association for Accessible Medicines (AAM), the nation’s trade association for the makers of generic and biosimilar medicines, which fill 9 out of 10 prescriptions in the United States. Appointed to the position by the AAM Board in summer 2020, Dan is responsible for ensuring the association fulfills its mission to improve the lives of patients and consumers by providing timely access to safe, effective and affordable medicines. Prior to joining AAM, Dan served as president and chief executive officer of the National Pharmaceutical Council (NPC), which sponsors and conducts research on a number of critical health policy issues. NPC plays a leadership role in the evolving areas of value assessment, value-based contracting and the importance of maintaining a robust innovation ecosystem. Before his tenure at NPC, Dan served as executive vice president of advocacy for America’s Health Insurance Plans (AHIP), the trade association representing companies providing health insurance coverage in the United States. Dan has significant experience in politics and government, including time spent with presidential campaigns, the National Republican Congressional Committee (NRCC) and as a chief of staff on Capitol Hill. Early in his career, Dan worked as a television broadcast journalist and held on-air and management positions at affiliates across the nation. He has a bachelor’s degree in journalism from Marietta College in Marietta, Ohio, where he currently serves on the Board of Trustees. Dan received a master’s degree in government from Johns Hopkins University. He lives in Annapolis, Maryland, with his wife, Susan. They have two children and enjoy sailing on the Chesapeake Bay. About YourUpdateTV: YourUpdateTV is a social media video portal for organizations to share their content. It includes separate channels for Health and Wellness, Lifestyle, Media and Entertainment, Money and Finance, Social Responsibility, Sports and Technology. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

October 28, 2021 05:00 PM Eastern Daylight Time

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Novus Cannabis MedPlan Reports Third Quarter 2021 Results

Novus Acquisition & Development Corp

Novus Acquisition and Development, Corp. (OTC Markets: NDEV ), through its wholly-owned subsidiary WCIG Insurance Services, Inc., is a hybrid health insurance entity and, the nation’s first health carrier offering cannabis in health plans to recreational and medicinal users, today reported its third-quarter financial results for the three months ended September 30, 2021, and update on the progression of its business model. Employer-Sponsored Health Plans As Novus comes out from under the COVID crisis we’re experiencing a breakthrough development in our effort to penetrate “ Insurance Group Sales ” in the small to midsize businesses (SMB) market. As SMB’s desire to compete and expand, it is essential to attract and retain their talent pool with competitive health benefits, but affordability remains an issue as healthcare costs rise faster than inflation. According to the Bureau Of Labor Statistics, more than half (57%), of SMB workers did not have employer-sponsored health benefits. The top perks employees seek are employer-sponsored, dental, vision, and Health Savings Account (HSA). Novus cannabis benefits packages fit into this niche, with the desirability of cannabis and the affordability of premiums with additional benefits. SMB’s continue to contact us, and their views on employee legal cannabis use have become more relaxed. And rightly so, when precedence was set in the New Jersey Supreme Court ruling, where employees who legally use cannabis as permitted by the state’s Compassionate Use of Cannabis of Medical Marijuana Act[i] cannot be fired. The authenticity of cannabis benefits in employee health plans gives Novus the ability to capture more value from selling individual policies to the economics of selling to the multitudes. Expansion Of Partnerships Partnerships continue to increase with agreements with Health Carriers, Third-party Administrators, Pharmacy Benefits Managers, Professional Employment Organizations, and Brokers in Group Sales. These partnerships encompass adding cannabis benefits as a rider and/or as a supplement bundle to consumer health plans. They see how Novus benefit packages are an enticement to acquire new clients and up-sell existing ones. The unique characteristics of our business model is based on the acceptance of cannabis being a benefits package to health plans. According to Forbes “by 2025, 5.4 million Americans, or 2.4% of U.S. adults, will be registered patients in medical cannabis states.” However, that 2.4% will considerably increase as the price of cannabis proliferates with added state/federal taxation to recreational products, alluring rec users to seek health plans that include cannabis. The success of our business model is making cannabis affordable to our patient /members by reducing the cost of the plant by 30%-35% combined with a 15%-17% abatement in taxes at the point of sale. Illicit Cananbis Market Recently California authorities eradicated 509,453 plants from 135 sites in the past 13-weeks with an undisclosed report of how much the operation cost the state government. We continue to advise cannabis verticals and state officials on using Novus insurance plans to cost-effectively combat illicit cannabis which will top $4 billion by 2025 as reported by New Frontier Data. These entities will quickly understand that by utilizing Novus insurance plans how compliantly we will corral med and rec users towards legal brands, we are confident that it is clearly discernable that this methodology is far superior to expensive law enforcement measures. Provider Network Our Provider network covers over 20,000 zip codes. The expansion of our Provider network is a continuous effort to develop underserved markets despite the slow down due to COVID. The procurement of reliable cannabis verticals as a Provider is the most arduous and nonlinear undertaking in our business model and it will be the same for any new competition. Having a head start as far back as 2016, we believe, we will leave very little resources to potential rivals in this department. Financial Highlights Financial milestones within the third quarter of 2021: No Dilution: No common stock was issued Three Month Revenue Increase: $6,656 or 9.8% to $67,955 for the three months ended September 30, 2021, as compared to $61,299 for the three months ended September 30, 2020. Six Month Revenue Increase $11,477 or 8.8% to $132,686 for the six months ended September 30, 2021, as compared to $121,209 the six months ended September 30, 2020. Profit Margin: Demonstrated a 36% profit margin pricing structure in its business model for the three months ended September 30, 2021 Net Income Increase: $4,202 or 17% to $24,888 for the three months ended September 30, 2021, as compared to $20,686 three months ended September 30, 2020 Shareholder Equity Increase: $1,481,889 on September 30, 2021, from $1,465,967on September 30, 2020 Cash and Cash Equivalents Increase: Moderately from $157,888 on September 30, 2020, to $158,195 three months ended September 30, 2021. Due to the cost of integrating Novus and PRAM back-office data to support their newly acquired clientele. Cash Flow: Increased 16% to $48,968 for the six months ended September 30, 2021, as compared to $41,270 the six months ended September 30, 2020. Conclusion Frank Labrozzi, CEO states, “We are fervent as we make cannabis health insurance mainstream. The acceptance of cannabis in employer-sponsored health plans combined with the inclusion of our benefits into health carriers plans makes the first-mover advantage of our infrastructure a successful perspective towards the value of our insurance model.” Research Novus: Financial Filings: Click Here Quote: Click Here Website: Click Here Investor's Page: Click Here About Novus Novus Acquisition & Development Corp. ( NDEV ), through its subsidiary WCIG Insurance, provides health insurance and related insurance solutions within the wellness and medical marijuana industries in states where legal programs exist. Novus has developed its infrastructure within many lines of the insurance business such as health, property & casualty, life, accident, and fixed annuities. Novus’ medical cannabis benefits package will work as outside developers and will not cultivate, handle, transport grow, extract, dispense, put up for sale, put on the market, vend, deliver, supply, circulate, or trade cannabis or any substances that violate the United States law or the Controlled Substances Act, nor does it intend to do so in the future and will continue to follow state and federal laws. The statements made about specific products have not been evaluated by the United States Food and Drug Administration (FDA) and are not intended to diagnose, treat, cure, or prevent disease. All information provided on these press releases, or any information contained on or in any product label or packaging is for informational purposes only and is not intended as a substitute for advice from your physician or other health care professional. Once a push notification is completed the transaction is solely between the state-licensed dispensary and the registered patient. The state laws are in conflict with the federal Controlled Substances Act. The current administration has effectively stated that it is not an efficient use of resources to direct federal law enforcement agencies to prosecute those lawfully abiding by state-designated laws, allowing the use and distribution of medical marijuana. However, there is no guarantee that the current administration, nor any future administration, will not change this policy and decide to enforce the federal laws strongly. Any such change in the federal government's enforcement of current federal laws could cause significant financial changes to Novus Medical Group. While we do not intend to harvest, distribute, or sell cannabis or cannabis-related products, we may be harmed by a change in enforcement by federal or state governments. Forward-Looking Statements This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Novus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Contact Details Novus Acquisition & Development Corp. Frank Labrozzi +1 855-228-7355 info@getnovusnow.com Company Website https://getnovusnow.com/

October 28, 2021 09:03 AM Eastern Daylight Time

Cyvatar Named Finalist in Computing Security Excellence Awards 2021

Cyvatar

Cyvatar today announced that it has been chosen as a finalist in Computing’s Security Excellence Awards 2021 for the Small and Medium Enterprise (SME) Security Solution Award. Computing celebrates the achievements of the IT industry's leading security companies, solutions, products, and personalities that keep every other part of the industry operating. Award categories include product- and project-related recognition, organizational achievements, and accolades for outstanding individual success. Computing selected Cyvatar for its cybersecurity-as-a-service (CSaaS) platform, designed with SMEs in mind. SMEs are increasingly at the mercy of ransomware attacks, phishing scams, and other cyber threats, but unlike larger orgs, most SMEs don’t have the budget or expertise to invest in comprehensive in-house security programs. Moreover, they struggle to show value from the security tools they do buy. Cyvatar CSaaS democratizes cybersecurity, making the best protection accessible and affordable for any SME regardless of budget, even if they have no cybersecurity expertise in-house. Customers can select the membership and pricing that meet their desired business outcomes in seconds; a freemium model ensures they can achieve tangible results fast with no out-of-pocket costs--an industry first. And they can cancel anytime--another industry first. “We don’t throw technology over the wall and expect our customers to figure it out themselves the way many product companies do,” said Corey White, Cyvatar co-founder and chief executive. “We deliver all three pillars of cybersecurity—the teams, technology solutions, and best practices—to SMEs that would not otherwise be able to implement them. Our subscription model ensures they don’t end up buying solutions they can’t use or don’t need, and our platform lets them see at a glance what’s going on in their environment to give them the best cyber prevention available.” Cyvatar offers its proprietary ICARM™ (install, configure, assess, remediate, maintain) methodology to deliver smarter, more efficient solutions, allowing SMEs to achieve security compliance and cyber-attack prevention faster and more effectively. ICARM ensures SMEs won’t get crushed under the weight of too many products, and guaranteed outcomes mean they get maximum value from their technology spend. Choose the Cyvatar membership with the best outcomes for your business today. About Cyvatar Cyvatar is committed to effortless cybersecurity for everyone. As the industry’s first subscription-based, cybersecurity-as-a-service (CSaaS) company, it’s our mission to transform the way the security industry builds, sells, and supports cyber solutions. We empower our members to achieve successful outcomes by providing expert practitioners, market-leading technologies, and proven best practices to guarantee business results. Our approach is rooted in a proprietary ICARM (installation, configuration, assessment, remediation, maintenance) methodology that delivers measurable security solutions for superior compliance and cyber-attack prevention, all bundled into a fixed monthly subscription that members can cancel anytime. Cyvatar is headquartered in Irvine, California, with locations around the world. Begin your journey to security confidence at cyvatar.ai and follow us on LinkedIn and Twitter. Contact Details Cyvatar Dan Chmielewski +1 949-231-2963 dchm@madisonalexanderpr.com Company Website https://cyvatar.ai/

October 28, 2021 08:00 AM Eastern Daylight Time

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