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REDWOOD CITY, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Biomea Fusion, Inc. (Nasdaq: BMEA) ("Biomea” or the "Company”), a clinical stage biopharmaceutical company focused on the discovery and development of oral covalent small molecules to treat and improve the lives of patients with diabetes, obesity, and genetically defined cancers, today announced that on December 2, 2024, the compensation committee of Biomea's board of directors granted one new employee non-qualified stock options to purchase an aggregate of 30,000 shares of the Company's common stock. The shares underlying the employee's stock options will vest 1/16 on a quarterly basis over four years, subject to the employee's continued employment with the Company on such vesting dates. The above-described award was made under Biomea's 2023 Inducement Equity Plan (the "Plan”). The above-described award was granted as an inducement material to the employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and was granted pursuant to the terms of the Plan. The Plan was adopted by Biomea's board of directors on November 17, 2023. About Biomea Fusion Biomea Fusion is a clinical-stage biopharmaceutical company focused on the discovery and development of oral covalent small molecules to improve the lives of patients with diabetes, obesity, and genetically defined cancers. A covalent small molecule is a synthetic compound that forms a permanent bond to its target protein and offers a number of potential advantages over conventional non-covalent drugs, including greater target selectivity, lower drug exposure, and the ability to drive a deeper, more durable response. We are utilizing our proprietary FUSIONTM System to discover, design and develop a pipeline of next-generation covalent-binding small-molecule medicines designed to maximize clinical benefit for patients. We aim to have an outsized impact on the treatment of disease for the patients we serve. We aim to cure. Visit us at biomeafusion.com and follow us on LinkedIn , X and Facebook . Contact: Investor & Media Relations Ramses Erdtmann [email protected]Thousands wiped off student debt in pre-Christmas giftBurt died over the weekend, the Crocosaurus Cove reptile aquarium in Darwin, Australia, said. He was at least 90 years old. “Known for his independent nature, Burt was a confirmed bachelor – an attitude he made clear during his earlier years at a crocodile farm,” Crocosaurus Cove wrote in social media posts. The aquarium added: “He wasn’t just a crocodile, he was a force of nature and a reminder of the power and majesty of these incredible creatures. While his personality could be challenging, it was also what made him so memorable and beloved by those who worked with him and the thousands who visited him over the years.” A saltwater crocodile, Burt was estimated to be more than 16 feet long. He was captured in the 1980s in the Reynolds River and became one of the most well-known crocodiles in the world, according to Crocosaurus Cove. The 1986 film stars Paul Hogan as the rugged crocodile hunter Mick Dundee. In the movie, American Sue Charlton, played by actress Linda Kozlowski, goes to fill her canteen in a watering hole when she is attacked by a crocodile before being saved by Dundee. Burt is briefly shown lunging out of the water. But the creature shown in more detail as Dundee saves the day is apparently something else. The Internet Movie Database says the film made a mistake by depicting an American alligator, which has a blunter snout. The Australian aquarium where Burt had lived since 2008 features a Cage of Death which it says is the nation’s only crocodile dive. It said it planned to honour Burt’s legacy with a commemorative sign “celebrating his extraordinary life and the stories and interactions he shared throughout his time at the park”.
Three long days of counting in the General Election finished late on Monday night when the final two seats were declared in the constituency of Cavan-Monaghan. Fianna Fail was the clear winner of the election, securing 48 of the Dail parliament’s 174 seats. Sinn Fein took 39 and Fine Gael 38. Labour and the Social Democrats both won 11 seats; People Before Profit-Solidarity took three; Aontu secured two; and the Green Party retained only one of its 12 seats. Independents and others accounted for 21 seats. The return of a Fianna Fail/Fine Gael-led coalition is now highly likely. However, their combined seat total of 86 leaves them just short of the 88 needed for a majority in the Dail. While the two centrist parties that have dominated Irish politics for a century could look to strike a deal with one of the Dail’s smaller centre-left parties, such as the Social Democrats or Labour, a more straightforward route to a majority could be achieved by securing the support of several independent TDs. For Fianna Fail leader Micheal Martin and current taoiseach and Fine Gael leader Simon Harris, wooing like-minded independents would be likely to involve fewer policy concessions, and financial commitments, than would be required to convince another party to join the government benches. Longford-Westmeath independent TD Kevin “Boxer” Moran, who served in a Fine Gael-led minority government between 2017 and 2020, expressed his willingness to listen to offers to join the new coalition in Dublin. “Look, my door’s open,” he told RTE. “Someone knocks, I’m always there to open it.” Marian Harkin, an independent TD for Sligo-Leitrim, expressed her desire to participate in government as she noted that Fianna Fail and Fine Gael were within “shouting distance” of an overall majority. “That means they will be looking for support, and I certainly will be one of those people who will be speaking to them and talking to them and negotiating with them, and I’m looking forward to doing that, because that was the reason that I ran in the first place,” she said. Meanwhile, the Social Democrats and Irish Labour Party both appear cautious about the prospect of an alliance with Fianna Fail and Fine Gael. They will no doubt be mindful of the experience of the Green Party, the junior partner in the last mandate. The Greens experienced near wipeout in the election, retaining only one of their 12 seats. Sinn Fein appears to currently have no realistic route to government, given Fianna Fail and Fine Gael’s ongoing refusal to share power with the party. Despite the odds being stacked against her party, Sinn Fein president Mary Lou McDonald contacted the leaders of the Social Democrats and Labour on Monday to discuss options. Earlier, Fianna Fail deputy leader and outgoing Finance Minister Jack Chambers predicted that a new coalition government would not be in place before Christmas. Mr Chambers said planned talks about forming an administration required “time and space” to ensure that any new government will be “coherent and stable”. After an inconclusive outcome to the 2020 election, it took five months for Fianna Fail, Fine Gael and the Greens to strike the last coalition deal. Mr Chambers said he did not believe it would take that long this time, as he noted the Covid-19 pandemic was a factor in 2020, but he also made clear it would not be a swift process. He said he agreed with analysis that there was no prospect of a deal before Christmas. “I don’t expect a government to be formed in mid-December, when the Dail is due to meet on December 18, probably a Ceann Comhairle (speaker) can be elected, and there’ll have to be time and space taken to make sure we can form a coherent, stable government,” he told RTE. “I don’t think it should take five months like it did the last time – Covid obviously complicated that. But I think all political parties need to take the time to see what’s possible and try and form a stable government for the Irish people.” Fine Gael minister of state Peter Burke said members of his parliamentary party would have to meet to consider their options before giving Mr Harris a mandate to negotiate a new programme for government with Fianna Fail. “It’s important that we have a strong, stable, viable government, whatever form that may be, to ensure that we can meet the challenges of our society, meet the challenges in terms of the economic changes that are potentially going to happen,” he told RTE. Despite being set to emerge with the most seats, it has not been all good news for Fianna Fail. The party’s outgoing Health Minister Stephen Donnelly became one of the biggest casualties of the election when he lost his seat in Wicklow in the early hours of Monday morning. Mr Donnelly was always predicted to face a fight in the constituency after boundary changes saw it reduced from five to four seats. If it is to be a reprise of the Fianna Fail/Fine Gael governing partnership of the last mandate, one of the major questions is around the position of taoiseach and whether the parties will once again take turns to hold the Irish premiership during the lifetime of the new government. The outcome in 2020 saw the parties enter a coalition on the basis that the holder of the premier position would be exchanged midway through the term. Fianna Fail leader Mr Martin took the role for the first half of the mandate, with Leo Varadkar taking over in December 2022. Current Fine Gael leader Mr Harris succeeded Mr Varadkar as taoiseach when he resigned from the role earlier this year. However, this time Fianna Fail has significantly increased its seat lead over Fine Gael, compared with the last election when there were only three seats between the parties. The size of the disparity in party numbers is likely to draw focus on the rotating taoiseach arrangement, raising questions as to whether it will be re-run in the next coalition and, if it is, on what terms. On Sunday, Simon Coveney, a former deputy leader of Fine Gael, said a coalition that did not repeat the rotating taoiseach arrangement in some fashion would be a “difficult proposition” for his party. Meanwhile, Fine Gael minister Paschal Donohoe said he would be making the case for Mr Harris to have another opportunity to serve as taoiseach. On Monday, Mr Chambers said while his party would expect to lead the government it would approach the issue of rotating the taoiseach’s role on the basis of “mutual respect” with Fine Gael. “I think the context of discussions and negotiations will be driven by mutual respect, and that’s the glue that will drive a programme for government and that’s the context in which we’ll engage,” he said. On Monday, Labour leader Ivana Bacik reiterated her party’s determination to forge an alliance with fellow centre-left parties with the intention of having a unified approach to the prospect of entering government. Asked if Labour was prepared to go into government with Fianna Fail and Fine Gael on its own, she told RTE: “No, not at this stage. We are absolutely not willing to do that. “We want to ensure there’s the largest number of TDs who share our vision and our values who want to deliver change on the same basis that we do.” The Social Democrats have been non-committal about any potential arrangement with Fianna Fail and Fine Gael, and have restated a series of red lines they would need to achieve before considering taking a place in government. Leader Holly Cairns, who gave birth to a daughter on polling day on Friday, said in a statement: “The party is in a very strong position to play an important role in the next Dail. In what position, government or opposition, remains to be seen.” Fianna Fail secured the most first preference votes in Friday’s proportional representation election, taking 21.9% to Fine Gael’s 20.8%. Sinn Fein came in third on 19%. While Sinn Fein’s vote share represented a marked improvement on its disappointing showing in June’s local elections in Ireland, it is still significantly down on the 24.5% poll-topping share it secured in the 2020 general election. The final breakdown of first preferences also flipped the result of Friday night’s exit poll, which suggested Sinn Fein was in front on 21.1%, with Fine Gael on 21% and Fianna Fail on 19.5%.Millions of university graduates and students will soon wake up to an early Christmas present after the government wiped thousands of dollars off their debts. or signup to continue reading Laws to cap the indexation rate for the Higher Education Loan Program at either the rate of inflation or the wage price index - whichever is lowest - passed federal parliament late Tuesday night after Australians were stung with a 7.1 per cent increase to their student debts in 2023 because of surging inflation. The indexation changes will lead to $3 billion in debt being cleared over coming weeks. "University is a lot more expensive today than when I was at university," Education Minister Jason Clare told reporters in Canberra on Wednesday. "Wiping $3 billion in debt will fix that spike in inflation that happened last year and it'll make sure that never happens again." People with an average HELP debt level will get a $1200 reduction on their loans. Those with a debt of $45,000 will get a decrease of about $2000, while students with $60,000 owning will have debt lowered by $2700. The changes were recommended in the university accords, a review of the tertiary education sector handed down in February. The laws mean university students completing placement will receive payments to help with living costs from July 2025. Students in degrees including teaching, nursing, midwifery and social work will receive an allowance of $319 per week. The reforms were a big win for students and graduates at a time when many Australians were struggling with the high cost of living, Universities Australia chief executive Luke Sheehy said. Though universities have celebrated these measures, other government proposals for the sector have been widely spurned. Labor has attempted to implement a cap on the number of foreign student arrivals from 2025. The reform would be used in place of an immigration rule known as ministerial direction 107, that has throttled student visas. Swinburne University of Technology vice-chancellor Pascale Quester has urged the government to replace the ministerial direction and prioritise visa processing for enrolments in science, technology, engineering and mathematics courses - collectively known as STEM subjects. The number of domestic students taking these courses has dropped steadily, while international student interest has increased by 39 per cent since 2021. "Forget a brain drain, we are at risk of a brain drought," Professor Quester said. "There is so much STEM talent in the region, but we have slammed the door in their faces with hastily-crafted policy." The government is also expected to slash a further 20 per cent off Australians' student debt if it wins the federal election in 2025. DAILY Today's top stories curated by our news team. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. 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Suncorp's 'digital insurer' policy transformation program will empower it to deliver improved customer and employee outcomes SYDNEY, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has announced a new partnership with Suncorp, one of Australia's and New Zealand's largest general insurers. Duck Creek will deliver cloud-native, low-code core insurance delivery solutions as part of Suncorp's recently announced 'digital insurer' policy transformation program. Duck Creek's SaaS solutions will replace multiple on-premises legacy systems and help Suncorp achieve its customer-outcome and value focused strategies. The multi-year agreement for Duck Creek policy, billing and Clarity (data, insights and AI) solutions is an important milestone, and will underpin the next era of technology modernisation and process simplification for Suncorp. Duck Creek's cohesive and comprehensive suite is expected to reduce Suncorp's technological complexity, support their ability to deliver enhanced customer value and personalisation, and improve operational efficiency. Suncorp aims to develop more customer-centric, data-driven and brand-specific propositions and experiences without the associated complexity; and deliver value to market faster and more efficiently across its personal and commercial brands in Australia and New Zealand. "Modernising our core insurance platforms will help us deliver innovative and affordable customer propositions, simplify and streamline our operations, and importantly enable our people,” said Lisa Harrison, Chief Executive Consumer Insurance at Suncorp. "Through a rigorous RFP process, we selected Duck Creek as it has a proven track record both globally and locally.” "This is a multi-year program designed to roll out new capabilities in a safe, smart and efficient way. We have assigned dedicated business and technical leadership to work alongside Duck Creek and our integration partner, with strong governance structures and oversight. "We look forward to a successful ongoing partnership with Duck Creek to help deliver this important program,” Ms. Harrison said. "Suncorp is pushing the boundaries of insurance innovation. They appreciate that they're not in the business of just insuring assets, but of delivering confidence and better experiences and outcomes for their policyholders,” said Christian Erickson, Managing Director (APAC) of Duck Creek Technologies. "Duck Creek's vision, to transform insurance technology, helping insurers be smarter, faster and more efficient, and provide the best protection for people and businesses, is aligned with Suncorp's, as a future-focused and protection-driven insurer. This makes us ideal partners and we're honored to be a part of helping deliver Suncorp's strategy. We believe Suncorp will push us to think and innovate differently and we are excited for the outcomes we will achieve together.” The unique modular architecture of Duck Creek's OnDemand platform will help accelerate Suncorp's innovation timelines, reducing new product time-to-market from months to weeks and product amendments from weeks to days. The OnDemand platform will also help Suncorp increase automation, eliminate manual processes and enhance data-driven decision making. "Our policyholder-centric solutions are designed to equip Suncorp to overcome any technological obstacles and refocus resources toward delivering new innovative customer propositions and experiences," Mr. Erickson said. About Duck Creek Technologies Duck Creek Technologies is the global intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite , and all are available via Duck Creek OnDemand . Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information - LinkedIn and X . About Suncorp Group Suncorp Group is an ASX-listed Trans-Tasman insurance company, headquartered in Brisbane, Australia. With a heritage dating back more than 100 years, Suncorp provides insurance products and services through some of Australia and New Zealand's most recognisable brands. Media Contacts: Duck Creek Chris Hamilton [email protected] Suncorp James Spence [email protected]None
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MELBOURNE, Australia (AP) — Australia’s House of Representatives on Wednesday passed a bill that would ban children younger than 16 years old from social media , leaving it to the Senate to finalize the world-first law. The major parties backed the bill that would make platforms including TikTok, Facebook, Snapchat, Reddit, X and Instagram liable for fines of up to 50 million Australian dollars ($33 million) for systemic failures to prevent young children from holding accounts. The legislation was passed with 102 votes in favor to 13 against. If the bill becomes law this week, the platforms would have one year to work out how to implement the age restrictions before the penalties are enforced. Opposition lawmaker Dan Tehan told Parliament the government had agreed to accept amendments in the Senate that would bolster privacy protections. Platforms would not be allowed to compel users to provide government-issued identity documents including passports or driver’s licenses. The platforms also could not demand digital identification through a government system. “Will it be perfect? No. But is any law perfect? No, it’s not. But if it helps, even if it helps in just the smallest of ways, it will make a huge difference to people’s lives,” Tehan told Parliament. Communications Minister Michelle Rowland said the Senate would debate the bill later Wednesday. The major parties’ support all but guarantees the legislation will be passed by the Senate where no party holds a majority of seats. Lawmakers who were not aligned with either the government or the opposition were most critical of the legislation during debate on Tuesday and Wednesday. Criticisms include that the legislation had been rushed through Parliament without adequate scrutiny, would not work, would create privacy risks for users of all ages and would take away parents’ authority to decide what’s best for their children. Critics also argue the ban would isolate children, deprive them of positive aspects of social media, drive children to the dark web, make children too young for social media reluctant to report harms they encountered and take away incentives for platforms to make online spaces safer. Independent lawmaker Zoe Daniel said the legislation would “make zero difference to the harms that are inherent to social media.” “The true object of this legislation is not to make social media safe by design, but to make parents and voters feel like the government is doing something about it,” Daniel told Parliament. “There is a reason why the government parades this legislation as world-leading, that’s because no other country wants to do it,” she added. T he platforms had asked for the vote on legislation to be delayed until at least June next year when a government-commissioned evaluation of age assurance technologies made its report on how the ban could been enforced. Rod Mcguirk, The Associated Press
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Huge Australian crocodile made famous by cameo role in Crocodile Dundee dies