HANOI, Vietnam, March 25, 2025 /PRNewswire/ -- The French Development Finance Institution (Proparco) and the Dutch Entrepreneurial Development Bank (FMO) have signed a loan agreement worth US$80 million, of which each party invest US$40 million, with Southeast Asia Commercial Joint Stock Bank (SeABank, stock code: SSB).
The funding strengthens SeABank's financial capacity to enhance financial access, improve capacities and expand key business areas for Vietnamese SMEs and women-owned enterprises; while improving the implementation of international practices in E&S risk management and climate change mitigation.
This also marks the beginning of a partnership focused on economic growth and financial inclusion.
Speaking at the ceremony, Mr. Le Van Tan - Chairman of the BOD (SeABank) highlighted SeABank's customer-centric commitment to guaranteeing equal financial access for all individuals and businesses, and emphasized: "The investment aligns with SeABank's sustainability strategy and enhances SeABank's ability to offer effective financial solutions, support SMEs, women-owned entrepreneurs, and climate action".
Mr. Olivier Brochet - French Ambassador to Vietnam expressed his support for Proparco's meaningful activities in the Vietnamese market, and shared: "As the Vietnam-France relationship has been elevated to a Comprehensive Strategic Partnership, we remain committed to supporting Vietnam's development. This cooperation is in line with our strategic direction and the common commitments at the G7 Summit 2024, particularly aims to address challenges of the new era through ecosystem protection and SMEs, women-owned entrepreneurs support".
Mr. Kees van Baar - Dutch Ambassador to Vietnam highlighted the Netherlands' role as Vietnam's largest European investor and trading partner, found common strengths in water resources, and shared development objectives of driving growth in Vietnam focusing on SMEs and women-owned enterprises. Mr. Kees van Baar emphasized the reason for choosing SeABank as partner: "SeABank has a clear strategic vision in providing financial solutions that support private enterprises, SMEs, and women-owned enterprises; along with international reputation and network to implement these initiatives. I believe that FMO and Dutch enterprises, together with SeABank and its ecosystem partners will have cooperative opportunities in the near future".
With this investment, SeABank's total international mobilization has reached nearly US$1.1 billion. This includes loans, credits, and trade finance from major financial institutions such as DFC, IFC, AIIB, Norfund, and OPEC Fund, etc. The growing trust from global partners demonstrates SeABank's strong reputation, operational efficiency, and commitment to supporting SMEs and women-owned enterprises.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
SeABank receives investment of US$80 million from Proparco and FMO - the French and Dutch government-owned financial institutions
First-ever positive profit, entering a new era of growth and global innovation
SAN FRANSISCO and SUZHOU, China, March 26, 2025 /PRNewswire/ -- Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of cancer, cardiovascular and metabolic, autoimmune, ophthalmology and other major diseases, announces its 2024 annual results, including major business updates, financial performance and the strategy and outlook for 2025 and beyond.
Dr. Michael Yu, Founder, Chairman and CEO of Innovent, stated: "2024 marked a year of historic milestones—Innovent's Non-IFRS net profit and EBITDA both turned positive for the first time, underscoring our strategic excellence and execution as a pioneer in sustainable biopharmaceutical operations. Meanwhile, we achieved record revenue, expanded our robust product portfolio to 15 approved products and delivered all late-stage development milestones to secure sustained growth momentum. We are also advancing breakthrough innovations in our early-stage pipeline for global opportunities while strengthening both global and local partnerships to accelerate innovation and growth.
With a clear strategy outlined above and a strong track record of execution, we are laying a solid foundation to enter a new phase of growth and global innovation. In the coming years, we aim to achieve RMB20bn product revenue in 2027 and advance five pipeline assets to the global MRCT Phase 3 stage by 2030. Through these efforts, we will evolve into a premier global biopharmaceutical company, delivering long-term value for patients, employees, shareholders and society."
Pioneering profitability with RMB20bn sales target in 2027
* Note: The financial numbers mentioned above, unless stated, were based on non-IFRS measure. Detailed disclosure can be found at the Company's 2024 annual results announcement.
Embarking on a new era of global innovation
Facilities and manufacturing capacity adhering to high-quality standards
Committed to responsible business practices and enhancing ESG management practices
About Innovent
Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 15 products in the market. It has 3 new drug applications under regulatory review, 4 assets in Phase III or pivotal clinical trials and 15 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Sanofi, Incyte, Adimab, LG Chem and MD Anderson Cancer Center.
Guided by the motto, "Start with Integrity, Succeed through Action," Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.
Statement:
1）Innovent does not recommend the use of any unapproved drug (s)/indication (s).
2）Ramucirumab (Cyramza), Selpercatinib (Retsevmo) and Pirtobrutinib (Jaypirca) were developed by Eli Lilly and Company.
Forward-Looking Statements
This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly.
These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent's competitive environment and political, economic, legal and social conditions.
Innovent, the Directors and the employees of Innovent assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turn out to be incorrect.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Innovent Announces 2024 Annual Results and Business Updates
Innovent Announces 2024 Annual Results and Business Updates
Innovent Announces 2024 Annual Results and Business Updates
Innovent Announces 2024 Annual Results and Business Updates
