Incubator/Accelerator

CynerGene aims to provide laboratory services for researchers, pharmaceuticals and biotech companies. The firm aims to generate high quality data using the company's QC-centric pipeline. CynerGene is a GLP compliant lab currently pursuing CLIA certification.

CynerGene

Frederick Innovative Technology Center

SAFC (Sigma-Aldrich Fine Chemicals) manufactures drug compounds. It provides raw materials, chemical solutions, and aids organic and biochemical manufacturing. The company serves the pharmaceutical and biopharmaceutical industries. It is based in Saint Louis, Missouri.

BeiGene (NASDAQ: BGNE) is a global biotechnology company that specializes in the development of drugs for cancer treatment through a translational research platform that combines unique access to internal, patient-derived biopsies with oncology biology. The company was founded in 2010 and is based in Cambridge, Massachusetts.

Kang Li

Head

MJ Group has joined the Association of Short Term Lenders as an associate member. The property valuation specialist, founded in 2006, is an advisor to more than 50 lenders, including international banks, property funds and developers. MJ Group managing director Robert Cohen says: “In the world of short-term mortgage lending, it’s the Association of Short Term Lenders that sets the benchmark for lenders when it comes to high standards and customer focus. “The recent [May] launch of the Certified Practitioner in Specialist Property Finance programme, as a joint initiative between the Association of Short Term Lenders, Financial Intermediary and Broker Association, and the London Institute of Banking & Finance demonstrates the crucial role the association plays in continuing to drive new standards of professionalism.”
Association of Short Term Lenders chief executive Vic Jannels adds: “Short-term lending is a vital cog in the property industry, providing a funding solution for a wide variety of circumstances, and it’s important that we work closely with other associated businesses, such as valuers, to ensure we continue to deliver the best possible experience for customers. “This is why associate members are so important to the Association of Short Term Lenders, and our growing membership reflects the increasing number of like-minded businesses that want to demonstrate a commitment to high standards.”

Association of Short Term Lenders adds MJ Group

Melbourne based Aquipa has confirmed that they have dumped struggling Danish Company Bang & Olufsen citing a lack of margin, it is the second time in 18 months that the brand has been dropped by a distributor. In Australia the Aquipa/Bang & Olufsen relationship was via Singapore based MJ Group who were also looking for a margin on the products sold by Aqipa in Australia, ChannelNews was told this was over 14% making any relationship difficult for any distributor. A senior Aquipa executive confirmed the dropping of the Bang & Olufsen brand. Late in 2018 the Melbourne based Kennedy Group walked away from a relationship with Bang & Olufsen when the Bang & Olufsen retail stores proved to be unprofitable. ChannelNews understands that at this stage no other distributor has expressed an interest in the brand that is facing serious difficulties worldwide. Aquipa are also dropping the Master and Dynamics headphones that have had limited success in Australia. Instead the Company is expanding distribution of the Marshall range of headphones and speakers will later this year roll out a new range of tin ear and over ear Adidas sports headphone. The over ear headphones have what looks like stylish shoelaces as cords. Aquipa are also currently rolling out a brand-new German sound range from Braun that sounds better than the current B&O offering and is significantly cheaper. (see separate story). The all new stylish Braun Audio Range due in retailers shortly. This range will replace Bang & Olufsen. The speakers that ChannelNews saw at IFA and CES 2020 are stylish and have that minimalistic European look that is proving popular worldwide with retailers in Australia expressing “A lot of interest” in the new offering. The dumping of Bang & Olufsen comes as the global Company faces a crisis, during the past 12 months their share value has gone from 100 kroner to 34.1. It appears that it is not only distributors who are losing patience with the Danish Company. Investors are also dumping the stock as the Company shops around for funding. Sales last month were considerably lower than expected, B&O said in a statement, prompting the shares to plunge 25% in Copenhagen. The decline takes this year’s stock loss to almost 63%, the second-worst return on the 132-member OMX Copenhagen Index. “All alarm bells are ringing, and who can have the confidence that there won’t be a fifth, or maybe even a sixth profit warning,” said Per Hansen, an investment economist at Nordnet in Copenhagen. “It ought to be clear that B&O’s future is not as an independent company.”
Bloomberg reported that the company’s troubles highlight the changing tastes of consumers who prefer listening to music on mobile devices or choose unobtrusive speakers over extravagant sound systems. Bang & Olufsen sales will be down as much as 18% for the past 12 months, compared with a previous forecast for an expansion. Operating profit and cash flow will also be worse than predicted earlier. ChannelNews expects that the Company will make a major announcement later this week with the Company tipped to announce another round of poor results. A new three-year plan won’t be presented until April however some observers are now claiming that the Company could be sold in 2020. Cristian Tear, a former Blackberry Ltd. manager who joined as chief executive officer in October. Tear said the strategic direction of the company remains unchanged, but that “fundamental change of the sales and marketing efforts is required.”
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EXCLUSIVE:Aqipa Dump B&O AS Things Go From Bad To Worse At Danish Company

May 11, 2016 | 0 Comments
Somers Limited, a financial services investment holding company, has invested in MJ Group Holdings Limited, the UK based specialist law firm and asset management services provider. The company said, “MJ Hudson was founded in 2010 by Matthew Hudson as a law firm for the alternative asset management and investment industry. “Both through acquisition and organic growth, MJ Hudson is rapidly fulfilling its strategic goal of becoming a multi-services and infrastructure business, a one-stop outsourcer for asset managers and investors encompassing legal, operating & regulatory, fiduciary, administration and reporting & investor relations services. The Somers investment will help MJ Hudson fulfil that goal. Somers has invested £1 million by way of a five-year convertible loan note with a 6- month option to invest a further £2 million on the same terms. The full £3 million investment would represent 13% of the enlarged share capital of MJ Hudson. Commenting on the investment, Warren McLeland, Chairman of Somers said, “We are very pleased to support the growth of MJ Hudson and fully expect there to be revenue synergies in both directions between MJ Hudson and our other investee companies.”
Matthew Hudson, CEO and founder of MJ Hudson, said, “The Somers’ investment represents an important step forward in establishing a onestop shop for asset managers in terms of all the legal, regulatory, fiduciary and operational services they require which will make us unique in the UK market, and we look forward to working closely with the broader Somers group”
Somers Limited is a listed financial services investment holding company whose major assets include its 100% owned subsidiary, Bermuda Commercial Bank Limited, one of Bermuda’s four licensed banks and a 62.5% holding in Waverton Investment Management Limited, a UK wealth manager with £4.5 billion assets under management. The Group’s other investments include a 57.0% interest in West Hamilton Holdings Limited, a Bermuda property company, a 44% economic interest in Ascot Lloyd Holdings Limited, a UK independent financial adviser, a 21% economic interest in Merrion Capital Holdings Limited, an Irish financial services group and a 99% stake in Stockdale Securities Limited, a corporate and institutional stockbroking group. Related Stories

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