PHOENIX, Ariz.--(BUSINESS WIRE)--VIQ Solutions Inc. ("VIQ", "VIQ Solutions" or the "Company") (TSX and Nasdaq: VQS), a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announced the addition of a new ASR technology to its engine agnostic portfolio driving improvements in efficiency and diarization in multi-speaker environments.

Built upon the existing ISO27001 certified secure cloud platform, the cutting edge, proprietary ASR technology sets the foundation for advancements in AI-based translation and foreign language transcription capabilities. This proprietary ASR pipeline is expected to create new efficiencies and improved accuracy as it learns from the large multi-industry data sets that VIQ creates, edits, and annotates.

The Company’s strategy, to capitalize on the commoditized speech to text platforms, benefits from the rapid advancements offered both commercially and as open-source technologies. VIQ offerings are agnostic to speech recognition programs, cloud infrastructure and hardware. The engine agnostic approach ensures they utilize the best suited and most efficient speech engine and focuses R&D investments on industry, geography and customer-centric customizations based on the characteristics of a media file. This specialized workflow creates a highly accurate “FirstDraft” document for self-editing or modification by VIQ professional editors. This unique strategy provides a clear distinction in investments related to post processing to enhance the diarized draft, associated formatting and customization of templates, which are most challenging in the complex industries served by VIQ.

“Our clients see the value in our ability to implement our integrated solutions and service offerings to transform and analyze digital content, and securely generate accurate actionable information,” said Vahram Sukyas, Chief Technology Officer, VIQ Solutions. “We continue to assess and add additional speech engines to our arsenal as needed, creating a high-quality user experience for our clients.”

As the appetite for digitalization of recorded events, technology is required to keep pace with the amount of evidentiary content created every day. VIQ's AI-based speech-to-text technology increases efficiency, decreases turnaround time, and yields higher transcription accuracy.

About VIQ Solutions

VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way content is captured, secured, and repurposed into actionable information. The cyber-secure, AI technology and services platform are implemented in the most rigid security environments including criminal justice, legal, insurance, government, corporate finance, media, and transcription service provider markets, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and to achieve digital transformation faster and at a lower cost.

Forward-Looking Statements

Certain statements included in this news release constitute forward-looking statements or forward-looking information (“forward-looking statements”) under applicable securities legislation. Such forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.

Forward-looking statements typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this news release include, but are not limited to, those statements with respect to the Company’s strategy and the expected benefits of the proprietary ASR pipeline. Forward-looking statements are based on several factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this news release, assumptions have been made regarding, among other things, the Company’s objectives. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that have been used.

Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Company’s annual information form dated March 31, 2022 and in the Company’s other materials filed with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission from time to time, available at www.sedar.com and www.sec.gov, respectively. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter any forward-looking statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Media:
Laura Haggard
Chief Marketing Officer
VIQ Solutions
Email: marketing@viqsolutions.com

Investor Relations:
Laura Kiernan
High Touch Investor Relations
Ph. 1-914-598-7733
Email: viq@htir.net

For more information about VIQ, please visit viqsolutions.com.

VANCOUVER, British Columbia--(BUSINESS WIRE)--$LEBGF #digitalbooks--Legible Inc. (CSE: READ) (FSE: D0T) (OTCQB: LEBGF) ("Legible” or the “Company”) is delighted to announce that it has qualified to trade on the OTCQB Venture Market (“OTCQB”). Legible’s common shares will begin trading on the OTCQB effective today under the ticker symbol LEBGF.

The Company’s common shares will continue to trade on the Canadian Securities Exchange (“CSE”) under the symbol “READ” and the Frankfurt Stock Exchange (“FSE”) under the symbol “D0T”. Furthermore, as announced on January 10, 2023, Legible’s shares are DTC eligible for electronic clearing and settlement with the Depository Trust Company (“DTC”) for trading in the U.S.

“We are delighted to begin trading on the OTCQB. This an important milestone for Legible, which will help increase our visibility and accessibility to a broader audience of U.S. investors and brokers and build awareness with industry analysts as we advance our unique eReading and audiobook offerings,” said Kaleeg Hainsworth, Legible’s CEO. “We would like to thank the team at B. Riley Securities, headed by Ms. Becky Popoff, who provided us with excellent advisory services and acted as our OTCQB Sponsor.”

The OTCQB is a U.S.-based transparent trading platform operated by the OTC Markets Group in New York and is the premier marketplace for entrepreneurial and development stage U.S. and international companies committed to providing a high-quality trading and information experience for U.S. investors. To be eligible, companies must be up to date in their SEDAR financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process.

As a verified market with efficient access to U.S. investors, the OTCQB helps Canadian companies build shareholder value to improve liquidity and achieve fair valuation. As a result, more Canadian companies are traded on OTC Markets than the New York Stock Exchange and Nasdaq combined. The key benefits of trading on the OTCQB include efficient market standards, transparency, visibility, and robust technology.

Hainsworth added, “Legible’s management team is exploring ways to establish new partnerships in the US, similar to our large-scale regional transit authority partnership with Go Transit in Ontario's Greater Toronto Area, that will make eReading more widely accessible to U.S. customers and investors, and enhance awareness for the Legible brand.”

About Legible Inc.

Legible Inc. is a book entertainment and media company with a mission: millions of books for billions of readers, globally. Legible provides innovative eReading experiences to anyone anywhere with an internet-enabled device. Legible has developed two high-value verticals: a browser-based, mobile-first B2C eBook entertainment platform delivering a global online bookstore and reading system for the emerging web with high-growth potential called Legible.com; and a global B2B eBook conversion and production service with high revenue potential called Legible Publishing. Founded and led by a team of technologists, authors, eBook publishers, designers, and publishing industry insiders, Legible is transforming the digital publishing industry and gaining market share through innovative, 21st century publishing and global reading experiences. Legible embraces core values of sustainability, accessibility, and global literacy.

Visit Legible.com and discover the place where eBooks come to life.

Cautionary Note Regarding Forward Looking Information

This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Legible Inc.
Deborah Harford
EVP, Global Strategic Partnerships
1 (672) 514-2665
(CSE: READ) (FSE: D0T) (OTCQB: LEBGF)
invest@legible.com
Website: https://invest.legible.com

HALIFAX, Nova Scotia--(BUSINESS WIRE)--The much anticipated second issue of DEFY Magazine was released today by popular demand.

The inaugural issue of DEFY, launched this past November, garnered thousands of unique views, received feedback and intrigue from around the globe, and sparked a much-needed conversation about misogyny in the workplace.

“I have been overwhelmed by the public interest and positive response to the magazine,” said Founder and Editor-in-Chief Julie Lawrence. “I have received pitches for articles from as far away as New Zealand and South Africa and have created partnerships with influential industry leaders. It has been a very exciting few months for DEFY.”

Two of those new partners are the Canadian Women’s Chamber of Commerce and Boss Talks, a mentorship platform that empowers women entrepreneurs and business leaders all over the world.

“This partnership between DEFY Magazine and Boss Talks is an important milestone in the journey towards greater gender equality within the business landscape,” said Hillary Gadsby, Co-Founder and CEO of Boss Talks. “We know that when young women have access to resources and mentorship like these, they can develop the necessary skills to succeed as leaders. Together, we hope to continue making great strides towards closing the gender gap while inspiring more confident female professionals everywhere."

Lawrence, who creates, designs and manages the magazine from her home in Halifax, Nova Scotia, is the former Editor of a national women’s health and wellness magazine run by men. It was that experience that formed the genesis for DEFY, a purely digital magazine that tackles the ways misogyny shows up at the workplace.

“I have heard from so many women who have shared stories that are similar to mine. They are finally feeling validated in their anger,” said Lawrence. “This magazine gives them the tools and guidance they need to improve their over-all experience in the workplace. We can’t change the patriarchy, but we can change how we respond to it.”

DEFY relies heavily on an advisory board of industry heavy hitters to lend their expertise and experience to the issues covered in the magazine. The advisory board includes: Kelley Bonner, Company Culture Strategist hand-picked by the Biden administration; Jennifer Ettinger, Canada’s first Social Media Correspondent; Karen Laos, Corporate Communications and Confidence expert; Kirsten Miller, New York Times bestselling author of The Change; Priya Sam, former CTV morning show host and current host of the podcast Turning Point; Makini Smith, award winning entrepreneur, mindset coach and founder of A Walk in My Stilettos; Dr, Lisa Petty, women’s well-being researcher and author; and Marci Warhaft, body image expert and host of the podcast How to Ruin Your Own Reputation.

The second issue of the magazine can be found at https://www.defymagazine.ca/defy-magazine-issue-2/

Julie Lawrence
Founder and Editor-in-Chief
E: julie@defymag.ca
T: 902-818-5175

TORONTO--(BUSINESS WIRE)--Postmedia Network Canada Corp. (“Postmedia” or the “Company”) today released financial information for the three months ended November 30, 2022 which include the results of the daily and weekly newspapers, digital properties and parcel delivery business acquired from J. D. Irving, Limited on March 25, 2022 (the “BNI Acquisition”).

“Reflected in our first quarter results is the impact of continued headwinds coming out of a pandemic into an uncertain economic landscape. Nearly every company, especially those in the media industry, has had to face these challenges with accelerated transformation, Postmedia included,” said Andrew MacLeod, President and Chief Executive Officer, Postmedia. “In Fiscal 2023 we are strengthening our focus and seeing progress from key revenue areas including digital subscriptions and parcel services. We will continue proactively transforming the Company to capitalize on a new business model.”

First Quarter Operating Results

Revenue for the quarter was $124.2 million as compared to $118.1 million in the same period in the prior year, representing an increase of $6.1 million (5.2%). The revenue increase was primarily due an increases in parcel services revenue of $8.6 million partially offset by decreases in advertising revenue of $4.1 million (5.9%) and circulation revenue of $2.3 million (5.4%). Excluding the impact of the BNI Acquisition, revenue for the three months ended November 30, 2022 was $108.5 million, a decrease of $9.6 million (8.1%) relative to the same period in the prior year. The revenue decline, excluding the impact of the BNI Acquisition, was primarily due to decreases in advertising revenue of $9.2 million (13.3%) and circulation revenue of $4.6 million (11.0%).

Total operating expenses excluding depreciation, amortization and restructuring increased $13.2 million or 12.4% for the quarter ended November 30, 2022, relative to the same period in the prior year. Excluding the impact of the BNI Acquisition, total operating expenses excluding depreciation, amortization and restructuring decreased $4.1 million or 3.8%. The decrease, excluding the BNI Acquisition, relates to compensation, distribution and production expenses partially offset by increases in newsprint and other operating expenses.

Operating income before depreciation, amortization and restructuring in the quarter was $4.8 million, a decrease of $7.1 million relative to the prior year. Excluding the impact of the BNI Acquisition, operating income before depreciation, amortization and restructuring in the quarter was $6.4 million, a decrease of $5.5 million relative to the prior year. The decrease, excluding the impact of the BNI Acquisition, is due to the decrease in total revenues, partially offset by the decrease in operating expenses excluding depreciation, amortization and restructuring.

Net loss in the quarter ended November 30, 2022 was $15.9 million, as compared to $4.4 million in the same period in the prior year. The increase in net loss was primarily the result of a decrease in operating income before depreciation, amortization and restructuring, increases in restructuring and interest expenses and foreign exchange losses, partially offset by a gain on disposal of assets held-for-sale and other assets.

Acquisition of Brunswick News Inc.

On February 17, 2022 the Company entered into a purchase agreement with J. D. Irving, Limited (“JDI”) to purchase all of the issued and outstanding shares of Brunswick News Inc. (“BNI”). The acquisition closed on March 25, 2022 and included BNI’s daily and weekly newspapers, digital properties and parcel delivery business. The purchase price consisted of cash consideration of $7.5M and share consideration of 4,282,920 Class NC variable voting shares with a fair value of $7.6 million.

Debt Repayment and Refinancing

During the three months ended November 30, 2022, the Company obtained consent of the lender to increase the senior secured asset-based revolving credit facility (“ABL Facility”) to $25.0 million. Subsequent to November 30, 2022, the Company further amended the ABL Facility to increase both the availability to the maximum amount of $30.0 million and the interest rate on amounts drawn to the bankers acceptance rate plus 8.0% and extended the maturity date to October 1, 2026. In addition, the Company entered into a $5.0 million Unsecured Revolving Promissory Note with the lender of the ABL Facility at similar terms.

Subsequent to November 30, 2022, the Company redeemed $5.2 million of first-lien debt with the proceeds of asset sales. After this redemption, the Company has $41.9 million of first-lien debt outstanding of the original $225.0 million that was issued in October 2016.

Business Transformation Initiatives

During the three months ended November 30, 2022, the Company implemented cost reduction and transformation initiatives related to compensation expense reductions, real estate rationalization, production efficiencies and other programs, which are expected to result in approximately $19 million of net annualized cost savings.

As previously stated, in F23 the Company intends to focus on key growth areas of Digital Advertising, Digital Subscriptions and Parcel Services. Transformation initiatives for the year ahead include a combination of streamlining resources, product mix rationalization, outsourcing where possible and real estate divesture.

Additional Information

Additional information, including financial statements and management’s discussion and analysis can be found on the Company’s website at www.postmedia.com or on SEDAR at www.sedar.com.

Note: All dollar amounts are expressed in Canadian dollars unless otherwise specified.

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 130 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences Our expertise in home delivery and expanding distribution network powers Postmedia Parcel Services. For more information, visit www.postmedia.com, www.postmediasolutions.com and www.postmediaparcelservices.com.

Forward-Looking Information

This news release may include information that is “forward-looking information” under applicable Canadian securities laws. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this news release include statements with respect the implementation and results of the Company’s transformation initiatives, continued benefits of historical results into future periods, the realization of anticipated cost savings and the identification and undertaking of ongoing cost savings initiatives. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others: competition from digital and other forms of media; the effect of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the failure to maintain current print and online newspaper readership and circulation levels; the realization of anticipated cost savings; possible damage to the reputation of the Company’s brands or trademarks; possible labour disruptions; possible environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of newsprint and other commodities.

For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the years ended August 31, 2022 and 2021. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates, may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.

For more information:
Media
Phyllise Gelfand
Vice President, Communications
(647) 273-9287
pgelfand@postmedia.com

Investor
Mary Anne Lavallee
Executive Vice President, Chief Financial Officer and Chief Transformation Officer
(416) 442-3448
mLavallee@postmedia.com

Vidyard welcomes Jonathan Lister as COO, launches new products and learning hub to empower digital-first sales professionals

KITCHENER, Ontario--(BUSINESS WIRE)--Vidyard, the leading provider of video solutions for sales and marketing professionals, welcomes Jonathan Lister as Chief Operating Officer (COO) to lead its global go-to-market teams. His leadership will be valuable as Vidyard continues to innovate on the leading video solution for sales and pursue its commitment to helping go-to-market professionals engage and delight their customers in a digital-first business world.

Prior to joining Vidyard, Jonathan spent over a decade at LinkedIn where he most recently led their Sales Solutions team as VP, Global Sales Solutions. The team’s mission was to build trusted and valuable buyer-seller relationships by empowering sales professionals to put their buyers first. Prior to LinkedIn, Jonathan worked as Country Manager at Google Canada and held various executive positions at AOL.

“We’re incredibly excited to welcome Jonathan to the Vidyard team,” said Michael Litt, co-founder and CEO of Vidyard. “His unique experience as a global leader at LinkedIn will be a tremendous asset as we build on our mission to empower every go-to-market professional with the tools and knowledge they need to be successful in the new world of digital customer communication.”

Lister joins Vidyard after a banner year that saw video become a new growth engine for thousands of sales teams. According to Demand Metric’s 2022 State of Video Report, 82% of go-to-market teams report that video is becoming more important to how they connect with buyers, while 70% of sales reps report that video converts better than any other form of content.

“There are few SalesTech companies that are truly focused on empowering the individual sales professional,” said Jonathan Lister, COO at Vidyard. “That’s really what drew me to Vidyard. I believe the company is uniquely positioned in that its products can be used by any go-to-market professional in the world to impact every stage of the customer journey. I’m looking forward to building on Vidyard’s strong momentum and reputation as a world-class provider of sales technology and community education.”

To help more sales professionals unlock the power of video and adopt new digital selling skills, Vidyard has also launched new innovations in its flagship product as well as its online media network, Sales Feed.

New Product Offerings Help More Sellers Send Professional Videos with Ease

The newest release of Vidyard’s video messaging product makes it easy for any sales rep to plan, record, and customize professional videos that utilize industry best practices. Vidyard users can now take advantage of these new capabilities:

• Video Templates: Video messaging is a new way to connect, and many sellers don’t yet know how to best utilize it. Vidyard’s new Video Templates guide sellers on how to use videos in specific sales scenarios - whether they’re trying to get in front of a new prospect, recording a custom demo, or closing out a deal. Video Templates include sample scripts, example videos, recording tips, and related best practices.
• Community-Contributed Templates: In addition to Vidyard’s own library, users can now access Video Templates from expert members of the B2B sales community. Initial contributors include bestselling author Shari Levitin, the sales acceleration company Sales Gravy, video selling coach Katherine Caldwell, international sales trainer Todd Caponi, and the top-rated sales engagement platform Salesloft.
• Enhanced Editing: Polishing up videos is a breeze with Vidyard’s enhanced trimming and cutting feature. Easily edit out slip-ups or dead air anywhere in a video, directly from within Vidyard’s web-based video library - no desktop app required.
• Video Chapters: Easily add chapters within your videos to mark specific topics and make your content easier to navigate. Chapters help viewers find the content they care about within longer videos like product demos, proposal presentations, and recorded video calls.
• Salesloft Insights Integration: Users of Salesloft’s sales engagement platform can now discover which prospects are watching their videos, natively within Salesloft. Vidyard video views are now surfaced within the Salesloft activity feed to empower sellers with timely customer insights.
• Sales Feed Learning Hub: To provide more opportunities for sales reps to develop their own sales skills, Vidyard has launched a new learning hub, accessible within the Vidyard app, powered by its Sales Feed media network. See below for more details.

Sales Feed Helps Sellers Develop New Skills and Hone Their Craft

Since launching one year ago, Sales Feed, Vidyard’s new media network, has developed a following of more than 100,000 sales professionals and has produced a wide range of original shows, educational videos, tips, templates, and entertainment for the sales community.

With growing demand for self-serve learning, Vidyard has made the best content from across the Sales Feed network available to its users via the Sales Feed learning hub, accessible from right within the Vidyard product. Vidyard users can now access some of the most helpful and engaging sales learning content covering a wide range of topics including cold calling, prospecting, discovery and qualification, negotiation and proposals, and selling with video.

“Our singular focus with Sales Feed is to help B2B sales professionals learn, laugh, and live a better life in sales,” said Tyler Lessard, VP Marketing at Vidyard and Head of Sales Feed. “The response we’ve received from our community has been nothing short of incredible, and we’re thrilled to put our top-rated content into the hands of every Vidyard user. At the end of the day, if we can help one more sales rep close one more deal - and feel good about how they did it - we feel like we’ve done our jobs.”

More Information:

• Learn more about Jonathan Lister at https://www.linkedin.com/in/jonathanlister/
• Learn more about Vidyard’s new product offerings at https://www.vidyard.com/whats-new
• Browse Vidyard’s Video Templates by logging into your Vidyard account and selecting the ‘Templates’ icon in the navigation bar. If you don’t have access to a Vidyard account, browse a subset of our Video Templates online at https://www.vidyard.com/sales-templates/
• Browse the new Sales Feed learning hub by logging into your Vidyard account and selecting the ‘Sales Feed’ icon in the navigation bar. If you don’t have access to a Vidyard account, browse the Sales Feed hub online at https://salesfeed.vidyard.com/
• Access our Vidyard Press Kit at https://www.vidyard.com/press/

About Vidyard
Vidyard is the leading video platform for businesses. More than 250,000 companies use its video messaging and video hosting tools to engage their customers and prospects more effectively. Vidyard enables enterprises across high tech, SaaS, financial services, professional services, and other industries to use asynchronous video to transform their approach to remote sales, marketing, and customer service. Business professionals can use Vidyard everywhere they work, on any digital platform, to create and share custom videos to deliver their message in a more personal and impactful way through its free and pro tools. Sign up for Vidyard for free: https://www.vidyard.com/free.

Media:
Tania Blake, Public Relations & Communications, Vidyard - press@vidyard.com

NOV03 is Being Investigated to Treat the Signs and Symptoms of Dry Eye Disease Associated with Meibomian Gland Dysfunction

NOV03 PDUFA Action Date is June 28, 2023

VAUGHAN, Ontario & HEIDELBERG, Germany--(BUSINESS WIRE)--Bausch + Lomb Corporation (NYSE/TSX: BLCO) (“Bausch + Lomb”), a leading global eye health company dedicated to helping people see better to live better, and Novaliq GmbH, a biopharmaceutical company focusing on first- and best-in class ocular therapeutics, today announced that Ophthalmology, the peer-reviewed journal of the American Academy of Ophthalmology, has published results from the pivotal Phase 3 trial GOBI, which is one of two pivotal Phase 3 trials for NOV03 (perfluorohexyloctane). NOV03 is being investigated to treat the signs and symptoms of dry eye disease (DED) associated with Meibomian gland dysfunction (MGD). The U.S. Food and Drug Administration (FDA) assigned NOV03 a Prescription Drug User Fee Act (PDUFA) action date of June 28, 2023.

“NOV03 was specifically developed to address excess tear evaporation and alleviate the signs and symptoms of dry eye disease associated with Meibomian gland dysfunction,” said Christina Ackermann, president, Ophthalmic Pharmaceuticals, Bausch + Lomb. “These findings reinforce NOV03 as a potential new treatment option that is distinct from anti-inflammatory and immunomodulatory agents. We are excited that the FDA is reviewing the New Drug Application for NOV03, which, if approved, would provide millions of patients with dry eye disease associated with Meibomian gland dysfunction a prescription treatment option.”¹

DED is one of the most common ocular surface disorders, with MGD as a major cause of development and progression, affecting approximately nine out of 10 people with DED.^2,3 DED due to MGD is caused by a deficient tear film lipid layer that leads to increased tear evaporation.⁴ There is currently no approved prescription eye drop in the United States indicated for DED associated with MGD.

“These data show that the GOBI trial met both co-primary endpoints and all key secondary endpoints, with statistical significance achieved in treating the signs and symptoms of dry eye disease associated with Meibomian gland dysfunction as early as day 15,” said Christian Roesky, Ph.D., CEO, Novaliq. “We are pleased to be able to share these exciting findings in Ophthalmology, and we look forward to our continued collaboration with Bausch + Lomb to hopefully bring NOV03 to market in the United States, and ultimately address an unmet medical need for those suffering with dry eye disease associated with Meibomian gland dysfunction.”

"All of the patients in the study were required to meet specific criteria indicating presence of Meibomian gland dysfunction. The findings of this study reinforce NOV03 as a potential treatment option for this patient population with unmet medical needs,” said Yehia Hashad, M.D., executive vice president, Research & Development and chief medical officer, Bausch + Lomb.

The data from the Phase 3, multicenter, randomized, hypotonic saline-controlled, double masked GOBI study was based on results from 597 subjects aged 18 years and older who were randomized to either receive treatment with NOV03 four times daily or hypotonic saline solution four times daily (n=303 NOV03; n=294 saline).

The two primary endpoints were change from baseline at Week 8 (Day 57 ± 2) in total corneal fluorescein staining (tCFS) and eye dryness Visual Analog Scale (VAS) score. Key secondary endpoints included change from baseline in eye dryness VAS score and tCFS at Week 2 (Day 15 ± 1) and eye burning/stinging VAS score and central corneal fluorescein staining (cCFS) at Week 8. Significant improvements vs. hypotonic saline solution were seen as early as day 15. Data highlights include:

Primary endpoints

• At Week 8, change from baseline in tCFS was statistically significantly greater in the NOV03 arm compared to the control saline group (least-squares [LS] mean treatment difference, -0.97; (95% confidence interval [CI]: -1.40 vs. -0.55) (P<0.001)).
• At Week 8, eye dryness VAS score was statistically significantly improved in the NOV03 arm compared to control group (LS mean treatment difference, -7.6; (95% CI: -11.8 vs. -3.4) (P<0.001).

Key secondary endpoints

• At Week 2 (day 15), tCFS and eye dryness VAS score were statistically significant compared to saline, with an LS mean treatment difference (95% CI) for change from baseline in tCFS of -0.6 (-0.9, -0.2) (P<0.01) and VAS score of -4.7 (-8.2, -1.2) (P<0.01).
• At Week 8, VAS burning/stinging score and cCFS also favored the NOV03 group, with an LS mean treatment difference (95% CI) for change from baseline in VAS burning/stinging score of -5.5 (-9.5, -1.6) (P<0.01) and cCFS of -0.2 (-0.4, -0.1) (P<0.01).
  
  

In the study, NOV03 was well tolerated with few subjects experiencing ocular adverse events (AEs) (9.6% NOV03 group, 7.5% control group) or treatment-related ocular AEs (6.3% NOV03 group, 3.1% control group). Most AEs were mild to moderate in severity. The most common AEs (incidence ≥1%) experienced in the NOV03 group were blurred vision, mostly mild and transient (3.0% vs 0.3%), instillation site pain (1.0% vs 1.0%), and eye discharge (1.0% vs. 0.0%). Ocular AEs led to treatment discontinuation in one subject in the NOV03 group (eye irritation) and three subjects in the saline group (conjunctivitis, dry eye, punctate keratitis).

About NOV03 (perfluorohexyloctane) Ophthalmic Solution
NOV03 is an investigational, proprietary, water-free, single-component preservative-free eye drop.⁵ In 2019, Bausch + Lomb acquired an exclusive license for the commercialization and development of NOV03 in the United States and Canada. Results from the pivotal Phase 2 trial (SEECASE) were published in Cornea in September 2021. Data from the first pivotal Phase 3 trial (GOBI) were presented at the American Society of Cataract and Refractive Surgery (ASCRS) annual meeting in Washington, D.C. on April 24, 2022. Data from the second pivotal Phase 3 trial (MOJAVE) were presented at the Association for Research in Vision and Ophthalmology (ARVO) annual meeting in Denver on May 2, 2022. The clinical program for NOV03 concluded with the completion of a multi-center, open-label, single-arm, 12-month safety extension trial (KALAHARI). In September 2022, Bausch + Lomb and NOV03 announced that the U.S. FDA had accepted the NDA filing for NOV03 and assigned a PDUFA action date of June 28, 2023.

About Novaliq
Novaliq is a biopharmaceutical company focusing on the development and commercialization of first- and best-in-class ocular therapeutics based on EyeSol^®, the worldwide first water-free technology. Novaliq offers an industry-leading portfolio addressing today's unmet medical needs of millions of patients with eye diseases. Novaliq GmbH is headquartered in Heidelberg, Germany and Novaliq Inc. has an office in Cambridge, MA, USA. The long-term shareholder is dievini Hopp BioTech holding GmbH & Co. KG, an active investor in Life and Health Sciences companies. More on www.novaliq.com.

About Bausch + Lomb
Bausch + Lomb is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from the moment of birth through every phase of life. Its comprehensive portfolio of more than 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and development, manufacturing and commercial footprint with more than 12,000 employees and a presence in nearly 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario with corporate offices in Bridgewater, New Jersey. For more information, visit www.bausch.com and connect with us on Twitter, LinkedIn, Facebook and Instagram.

Forward-looking Statements
This news release may contain forward-looking statements, which may generally be identified by the use of the words “anticipates,” “hopes,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch + Lomb’s filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch + Lomb, including but not limited to its project development timelines, launches and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch + Lomb undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

References

1. National Eye Institute. Dry Eye. Last updated April 8, 2022. Accessed December 21, 2022. https://www.nei.nih.gov/learn-about-eye-health/eye-conditions-and-diseases/dry-eye
2. Leonardi, A., Modugno, R. L., & Salami, E. (2021). Allergy and Dry Eye Disease. Ocular immunology and inflammation, 29(6), 1168-1176. https://doi.org/10.1080/09273948.2020.1841804.
3. Lemp, MA, Crews, LA, Bron AJ. (2012). Distribution of Aqueous-Deficient and Evaporative Dry Eye in a Clinic-Based Patient Cohort: a retrospective study. Cornea, 31(5), 472-478. https://journals.lww.com/corneajrnl/Abstract/2012/05000/Distribution_of_Aqueous_Deficient_and_Evaporative.2.aspx
4. Geerling G, Baudouin C, Aragona P, et al. (2017). Emerging strategies for the diagnosis and treatment of meibomian gland dysfunction: Proceedings of the OCEAN group meeting. The Ocular Surface,15(2): 179-192. https://doi.org/10.1016/j.jtos.2017.01.006
5. In December 2019, Bausch Health acquired the rights from Novaliq GmbH to pursue development and commercialization of NOV03 for DED and combination products based on NOV03 in additional ophthalmic indications in the United States and Canada.

All product/brand names and/or logos are trademarks of the respective owners.
© 2023 Bausch & Lomb Incorporated or its affiliates.
NOV03.0064.USA.22

Novaliq Media Contact:
Simone Angstmann-Mehr
info@novaliq.com

Bausch + Lomb Investors:
Arthur Shannon/Allison Ryan
arthur.shannon@bausch.com;allison.ryan@bausch.com
(877) 354-3705 (toll free); (908) 927-0735

Bausch + Lomb Media Contacts:
Lainie Keller/Kristy Marks
lainie.keller@bausch.com;kristy.marks@bausch.com
(908) 927-1198; (908) 927-0683

Partners with Canadian-based premium online sports betting and casino platform BET99 for the launch

TORONTO--(BUSINESS WIRE)--Building on the strength of its audience network and successful affiliate channels including Shopping Essentials and Business Essentials, Postmedia Network Inc. (“Postmedia”) today announced the launch of its newest channel – Betting Essentials.

Betting Essentials runs across Postmedia’s news websites and provides an accessible sports betting hub to help readers transition from casual bettor or sports fan to expert in the space with the help of news, advice and easy-to-navigate betting content.

“The vision for Betting Essentials is to provide a best-in-class affiliate program that leverages Postmedia's brand, editorial authority, audience and reach to fulfill Canadian consumers' interests and demands,” said Gerry Nott, Senior Vice President, Editorial at Postmedia. “We’re excited to see the channel come to life and look forward to welcoming additional reputable partners in the months ahead.”

Postmedia is partnering with Canadian-based premium online sports betting and casino platform BET99 for the launch of Betting Essentials.

As a Canadian operator, BET99 has a deep understanding of the market and offers a uniquely tailored approach to each region, delivering customized and premium betting content on all major league sports to enhance Postmedia’s editorial sports and sports betting coverage on Postmedia’s Ontario-based news websites, including National Post, Toronto Sun, Ottawa Sun, Ottawa Citizen, The London Free Press, Windsor Star, Cornwall Standard-Freeholder, The Kingston Whig-Standard, The Community Press (Bellville), The Brantford Expositor, The Londoner, The Chatham Daily News, The Observer (Sarnia), The Owen Sound Sun Times, North Bay Nugget, The Sudbury Star, The Timmins Times and The Sault Star.

“We’re very pleased that Postmedia chose BET99 to partner with on the launch of Betting Essentials,” said Jared Beber, CEO of BET99. “Our expertise in betting in the Canadian market is a great fit for the new channel and the focus on educating bettors perfectly complements our corporate mission of creating engaging and entertaining, yet sensible and safe betting experiences for Canadians.”

BET99 will provide expert insight into best bets, odds, news and the hottest players to follow, with the goal of educating bettors, building decision-making skills around sports betting and providing guidance on responsible gambling guidelines.

Further enhancements to Betting Essentials are planned for the new year, with more partners to follow.

About Postmedia Network Inc.

Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is a Canadian newsmedia company representing more than 130 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences Our expertise in home delivery and expanding distribution network powers Postmedia Parcel Services. For more information, visit: www.postmedia.com, www.postmediasolutions.com, and www.postmediaparcelservices.com.

About Sports Venture Holdings and BET99

Sports Venture Holdings Inc. is a holding company of subsidiaries that operate the market-leading BET99 brands. It offers premium online sports betting and casino platforms to Ontarians, and free-to-play products throughout Canada, leveraging the brand’s unique understanding of the country’s regional differences to create localized, diverse products tailored to each market. The company also boasts a number of unique Canadian partnerships, including UFC Hall of Famer Georges St-Pierre, NHL All-Star Auston Matthews, two-time Olympian Alysha Newman, international soccer star Sebastian Giovinco, the Ottawa Senators, Live Nation, Postmedia, CF Montreal, the Montreal Alouettes and now, the NHL.

Postmedia
Phyllise Gelfand
Vice President, Communications
(647) 273-9287
pgelfand@postmedia.com

BET99
Ema Asler
Kaiser & Partners Communications
ema.asler@kaiserpartners.com

New Data from Wattpad shows that Gen Z is making reading and writing more inclusive, embracing a wider array of genres and happily reading on their phones

Four out of five Gen Z readers look to online sources for diverse stories

TORONTO--(BUSINESS WIRE)--Gen Z isn’t waiting around for a more diverse publishing industry, they’re seeking out diverse authors and stories online, and reading in new ways. New data from Wattpad, the global entertainment company for original stories and leading webnovel platform, and Wakefield Research shows that Gen Z readers are going online to find the representation they can’t find in bookstores, with more than four out of five (83%) Gen Z readers (aged 18 - 25) turning to online sources like webnovels, e-books, and webcomics for diverse stories. The findings shed new light on Gen Z reading behaviors and how they differ from previous generations.

The data signals a generational shift in consumption and attitudes towards fiction. With the rise of webnovels, e-books, webcomics, and other digital formats, Gen Z is normalizing reading on their phones. Today, 67% of Gen Z respondents say they read on their phones, compared to 51% of older generations who say they still prefer turning the page manually on a physical book, magazine or newspaper.

Diversity and access to a wider range of voices in stories they consume is a key consideration for Gen Z overall, across all media. Seventy-nine percent of Gen Z respondents said diversity and representation is important to them when choosing books, movies or other forms of entertainment - significantly more than other generations including Millennials (66%), Gen X (53%) and Boomers (34%). In fact, 60% of Gen Z readers reported looking for books, stories or comics that highlight marginalized groups, much higher than other generations at just 40%.

Not only does Gen Z want more diverse stories, they are celebrating and elevating a wider range of stories overall, embracing more genres than other generations. While older generations are happy to consume genre fare in TV and film, helping to drive massive box office returns on superhero adaptations, they are still less likely than Gen Z to consume genre fiction. Compared to Millennials, Gen X, and Boomers, Gen Z readers are embracing more of every genre, including more Fantasy & Sci-fi (42% vs. 30%), Horror (38% vs. 20%), and Superhero/Action (34% vs. 18%). Gen Z also reads more romance compared to other generations, at 43% vs 30%. Unsurprisingly, Gen Z also loves YA, with 50% enjoying the category, compared to only 15% of other generations.

“Wattpad has redefined who gets to tell their story. Writers can find their voice, build a global audience, and make money from their craft,” said Sue Johnson, Chief Content Officer, Wattpad. “This is possible because Gen Z is demanding more from fiction, whether its representation of a much wider range of voices and perspectives or accessibility and new formats. Supporting Gen Z readers and writers who are changing the world is what drives us at Wattpad. More diversity in fiction is about more possibility in the world. I’m incredibly proud to be part of a platform that is making more authors, stories, and perspectives accessible to people around the world.”

This combination of embracing new voices and a wider range of genres has resulted in new forms of genre mixing and creative innovation online. On storytelling tech platforms and webnovel communities like Wattpad, genre-mixing has enabled innovation and creativity, allowing a new generation of authors to build fandoms for their work. Stories like Sondi Warner’s supernatural polyamorous romance Lead Me Astray (266K reads), Nandi Taylor’s Afro-Caribbean-inspired fantasy romance Given (1.3M reads), and Claudia Tan’s kick-boxing romance Perfect Addiction (85.6M reads) are just a few of the global Wattpad sensations that mix and reimagine genres to tell an incredible story.

Importantly, Gen Z aren’t just reading more of every genre, they are also reading more or at the same levels as they were before the COVID-19 pandemic. Among Gen Z surveyed, 35% say they read more today than they did two years ago, while 33% read about the same amount as before. In fact, with so many genres to explore and so much fiction to consume across various on and offline formats, Gen Z maintains strong and regular reading habits with nearly 40% reading daily or a few days each week, and 55% still reading once a week or more.

Wattpad has long been home to some of the most exciting new voices in fiction. Authors on the platform are transforming entire genres by adding new voices and perspectives that haven’t been historically represented. In 2020, the company found that readers were spending millions of minutes each year reading fantasy and paranormal stories featuring diverse characters, adding much-needed representation into these genres.

With a global community of 90 million people, Wattpad is a leading destination for Gen Z readers seeking diverse stories, characters, and genres from around the world. In the last year alone, stories tagged #Diversity saw an 18% increase in reading time on Wattpad, with users spending an average of 500,000 minutes a day reading stories with the tag.

“I’ve loved reading my entire life but before joining Wattpad, I had never come across a story that I could see myself in,” said Loridee De Villa, Wattpad creator of the Watty Award-winning How to Be the Best Third Wheel. “Wattpad gave me a place to build a character that reflected my experience growing up in an immigrant Filipino family, and with over 2.7 million reads on the platform, it’s clear the representation in my story is something that was missing for others as well.”

ABOUT WATTPAD

Wattpad’s vision is to entertain and connect the world through stories. A leading webnovel platform and home to a community of 90 million people who spend over 23 billion minutes a month engaged in original stories, Wattpad has democratized storytelling for a new generation of diverse Gen Z writers and their fans. Alongside Wattpad WEBTOON Studios, the company’s TV, film, and publishing counterparts, Wattpad combines art and science to unearth incredible stories and cultivate the fandoms driving the future of entertainment. The company is proudly based in Toronto, Canada.

*This survey was conducted by Wakefield Research among 1,100 US adults ages 18+ between July 14th and July 20th, 2022, using an email invitation and an online survey. The survey group reflects a diversity of ethnic and racial backgrounds, ages, gender and region. Data has been weighted and anonymized to ensure privacy of respondents.

Sabena Singh
sabena.singh@wattpad.com
647-400-2874