Daily Archives: January 13, 2022

The total spending of one of New Mexicos largest employers reached a record $3.9 billion in fiscal year 2021 about $139 million more than the previous year, according to an economic analysis released Wednesday by Sandia National Laboratories.

Sandia officials, in a virtual meeting with Journal reporters and editors, said growth was driven largely by construction, infrastructure projects and critical milestones in nuclear weapons life-extension programs a major mission of the lab, which does work for the Department of Energys National Nuclear Security Administration.

And more work is on the way.

The pipeline is extremely strong. And its across all areas in all mission areas, all facilities, all infrastructure areas, said Scott Aeilts, Sandias associate labs director of mission services. Weve made a commitment to invest on all fronts to position the lab for many years to come.

During Sandias fiscal year, which ended Sept. 30, the labs hired a total of 1,340 people, of which 992 are assigned to the lab in Albuquerque.

Since the start of the pandemic, Sandia moved a significant chunk of its employees to remote work. Aeilts said about 30% of its workforce is now remote or has some sort of hybrid-style schedule.

Lab directors delegated arrangements for employees to individual managers.

Some of the nature of the very work we do that pertains to hands-on (experiments) and classified work has to be done on site, Aeilts said. But we got very aggressive relative to our position and posture with teleworking. And I think thats been a quote-unquote benefit that the employees are enjoying.

He said that transition has freed up a significant amount of needed work space at the labs.

Total subcontractor-related payments at Sandia reached $1.37 billion last year. New Mexico businesses earned 35% of that money.

Most Sandia contracts go out for a bidding process, and New Mexico small businesses get a 5% evaluation preference.

One of the largest local contracts went to Encantado Technical Solutions, LLC, a small Albuquerque business that provides IT services to government organizations. The company inked a seven-year, $700 million contract with the labs last year, according to the Sandia report.

Sandia paid a total of $106 million in New Mexico gross receipts taxes in 2021.

During the last fiscal year, we were also able to meet all spending related to our small business goals, while at the same time delivering our national security missions, Aeilts said.

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Sandia spending reaches record $3.9 billion in fiscal year 2021 - Albuquerque Journal

January 13, 2022

SBM Offshore is pleased to announce the proposed appointment of ivind Tangen as Chief Operating Officer (COO) and member of its Management Board. ivind Tangen (1973, Norwegian) has been working for the Company for 19 years and has a wealth of experience in engineering and operational roles, as well as in strategy and project execution. He is currently a Managing Director of the Company, responsible for SBM Offshores Lease and Operate segment, which includes the Companys FPSO fleet.

ivind Tangen holds an MSc in Naval Architecture from the Norwegian University of Science and Technology and ENSTA, Paris, as well as a Master of Management and Economics of Energy and the Environment from ENI Corporate University.

ivind Tangens proposed appointment to the Management Board will be submitted for approval at the General Meeting to be held on April 6, 2022 (AGM).

The proposed appointment of ivind Tangen to the Management Board underlines the Companys focus on excellence in operations and project execution. At the same time, it will enable additional focus on delivery of SBM Offshores strategy through the energy transition.

Philippe Barril (currently COO) will be appointed Chief Transition Officer (CTO). The creation of a CTO role at the Management Board confirms the Companys ambition to play a leading role in the energy transition. Human Resources, Legal & Compliance, Health, Safety, Security and Environment (HSSE) and some other corporate functions will report to the CTO.

Douglas Wood will continue as Chief Financial Officer. In the new set up of the Management Board, he will also assume responsibility for Communications in addition to Investor Relations.

Erik Lagendijk (1960, Chief Governance & Compliance Officer) has decided to step down from the Management Board after the AGM.

Bruno Chabas, CEO, said: It is with great pleasure that we welcome ivind to the Management Board. His nomination marks the quality of our pool of talent. ivind has demonstrated his leadership over many years at SBM Offshore. By adding ivind to the Management Board and with Philippe and Douglas taking a broader role as well, SBM Offshore is well positioned to deliver results in both our traditional business and strengthen our position in New Energies. I would like to thank Erik for his considerable contribution to SBM Offshore and in leading our commitment to do business with integrity.

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Erik Lagendijk said: It is extremely satisfying to see that the Company has overcome its past issues and is now well positioned for the future. After 7 years on the Management Board, I welcome the change and the opportunity to hand over to the next generation.

Corporate Profile

The Companys main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation.

As of December 31, 2020, the Company employs approximately 4,570 people worldwide spread over offices in our key markets, operational shore bases and the offshore fleet of vessels.

SBM Offshore N.V. is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect interests in other companies.

Where references are made to SBM Offshore N.V. and /or its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies SBM Offshore or the Company are sometimes used for convenience.

For further information, please visit our website at http://www.sbmoffshore.com.

The Management BoardAmsterdam, the Netherlands, January 13, 2022

Financial Calendar

Date

Year

Full Year 2021 Earnings

February 10

2022

Annual General Meeting

April 6

2022

First Quarter 2022 Trading Update

May 12

2022

Half Year 2022 Earnings

August 4

2022

Third Quarter 2022 Trading Update

November 10

2022

For further information, please contact:

Investor RelationsBert-Jaap DijkstraGroup Treasurer and IR

Mobile:

+31 (0) 6 21 14 10 17

E-mail:

bertjaap.dijkstra@sbmoffshore.com

Website:

http://www.sbmoffshore.com

Media RelationsVincent KempkesGroup Communications Director

Mobile:

+377 (0) 6 40 62 87 35

E-mail:

vincent.kempkes@sbmoffshore.com

Website:

http://www.sbmoffshore.com

Disclaimer

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on managements current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Companys business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as believes, may, will, should, would be, expects or anticipates or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.

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SBM Offshore nominates ivind Tangen as member of the Management Board - Yahoo Finance

As anyone who's ever played a competitive family game of Monopoly knows, there's nothing more likely to get people riled up about unfairness. But now a different version of the game is leveraging this idea to get children's attention about injustice and inequality in the real world.

French nonprofit theObservatory of Inequalities and agency Herezie have created a toolkit extension that adjusts the popular Hasbro board game to includevarious aspects of real-life inequality.For example, girls earn less than boys by going through square one, some players start the game with a heritage of houses positioned on the board and others are limited to playing only with one dice.

Unlike traditional play, players are not treated equally. Everyone puts themselves in the shoes of a character, dealt out at the start of the game, and discovers, through the rules and event cards, injustices that may or may not apply to them.

Herezie created the toolkitfollowing an initial video it made in 2017 for the organization. It showed kids playing a "social board game" adapting the rules of Monopoly. The idea is for the toolkit to be used in schools for kids over 11, as part of a workshop with a facilitator to explain the various injustices that occur, but it's also available for anyone to buy at the website.

The kit has been approved by Hasbro and is also endorsed by the French government.

"The initiative is fantastic for the simple reason that you can tackle extremely serious and important topics in a playful way and in a way that makes young people want to take an interest in the issue, said Elisabeth Moreno, theFrench minister responsible for Equality between Women and Men, Diversity and Equal Opportunities, in a statement.

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This 'Monopoly ' extension adjusts the game with inequalities - AdAge.com

Rory Moore (pictured) has worked at Ekati, the first diamond mine in Canadas Northwest Territories, on and off for years. He was part of the original crew that first developed the mine in the 1990s. In 2018, he rejoined what was then called Dominion Diamond. He then became its interim president in January 2020, and in November, he was appointed the full-time CEO of what is now called the Arctic Canadian Diamond Co.

Here, he talks with JCK about his view on the diamond market, how Arctic looks at Canadian cutting and Canadian-origin stones, and why Ekati might confound expectations and stay around for a while.

Can you bring us up to date on whats happening with Ekati and its current ownership structure?

With the onset of COVID, the diamond market closed. We had a partnership with Rio Tinto in the Diavik mine, which is a neighboring mine. After COVID, we [initially] elected to put Ekati on care and maintenance, because we had $200 million worth of diamonds in inventory, but we couldnt sell them. We didnt want to burn through our cash reserves quickly. However, when Diavik did continue to operate, we were obliged to pay our 40% interest in the operating costs, and that would have very quickly have chewed up our cash reserves. So, we [filed] for CCAA [insolvency protection].

That triggered its sale process and the former owners, Washington, participated in that and ultimately withdrew their bid to buy the assets, and then the debt holders stepped in, represented by the three principal organizations: DDJ Capital, Brigade Capital, and Western Asset Management. The three of them stepped in and bought the assets and [provided us] with some additional cash to reopen the mine and get going again.

We restarted the mine in January last year, which is in the dead of the Arctic winter, so that was challenging. We had lots of startup problems, but ultimately now we have got the mine running at a steady state. Fortunately, we had some nice tailwinds from a strong rough diamond market last year, so prices were very robust and that really helped us with our restart. We met our revenue targets last year despite all the challenges.

You have said you want to extend the mine life. How do you plan to do that?

The best days of Ekati are behind us in terms of quality of ore bodies. During the early years, when BHP owned the mine, the ore bodies were very rich and very close to the central infrastructure at the mine, which is the process plant. So operating costs were very low, and revenue was very high. It was a highly profitable mine.

As time has gone on, those bodies have been mined out, and we are now mining lower-value ore bodies further away from the plant. Our main open pit, Sable, is 17 kilometers north of the process plant. Its a lower-revenue ore body and theres additional transportation and logistics involved in getting the ore from the open pit to the process plant. Then, to the south, weve got our Misery underground mine, which is a high-revenue ore body that has now gone underground, so its mining at a lower production rate. And thats 25 kilometers south of the processing plant, so again, weve got to transport the ore to the plant.

What we faced going forward is, as these ore bodies come to their natural end, Stable in particular, they were not valuable enough to support conventional underground mining. And, so, what weve done is over the past four yearsand this is what Ive been working onis looking at alternative, more creative ways to mine these ore bodies so we can still mine them profitably.

Weve come up with a system, its called underwater remote mining. Essentially, we flood the pit, and after the open pit mining is completed, and we continue to mine it underwater, using specialized underwater surface mining machines that weve developed in conjunction with a company out of Holland called Royal IHC. We are very confident that its going to work, and the beauty of this method is that you only mine ore and not waste. So, with conventional mining, you have to mine a lot of waste. In fact, at Sable, theres seven times more waste [being mined] than ore. If you remove all that waste mining, suddenly your costs are dramatically lower, and youve got a profitable mining operation again. Thats the way we are going into the future.

We have designed all the equipment, and we are going to construct the first of that equipment this year. Then, were going to do a big production trial in 2024. Were building equipment this year, and then over 2023 and 2024, were gonna test that equipment and then implement it in 2024 for future mining at Sable, and then extend that to other ore bodies. The future of Ekati is underwater remote mining, which has not been done in this sort of setting at all in the past. We are spearheading some new innovative mining techniques.

Assuming that all comes to fruition, how long will that extend the mine life?

Initially, the first phase will take us to 2029. The other thing that were doing at the moment is developing a new conventional open-pit mine at the same time. That will take us to 2028. We also have the opportunity to extend mine life through underwater remote mining at Point Lake. That ore body has 50 million tons of kimberlite in it. So, if the underwater remote mining works, well get an additional 10 years of mining out of Point Lake. Then, we have another ore body that was mined by BHP called Fox, and that has 40 million tons of kimberlite left in it. Weve done studies to potentially develop it with underground conventional mining, and it doesnt make the grade. So, we would look to mine that underwater as well, which would add another 10 years of mine life. So, essentially, we have decades of mine life extension, but we have to prove the system first.

You said youre confident that will work.

Yes. Im very confident. Components of the technology have been routinely used in other applications, in conventional dredging operations throughout the world. We are putting it all together in a system that hasnt been used in this application. None of it is rocket science. Its all proven technology.

The owners have been very supportive, and they have been very open to funding our development of [the underwater remote mining] method. Weve got a stable operation now, and our immediate focus is to pay down the debt that we have, and weve already started that process this year. We had a good revenue year, and weve already paid down the debt very substantially.

There have been concerns raised about underwater mining from an environmental point of view. How do you respond to that?

In fact, this method is significantly more environmentally friendly than open-pit mining. Thats because, firstly, you dont have any big waste dumps. So, all that footprint of the waste dumps interfering with caribou migration or changing the landscape, that goes away. You have a closed water system, so all the water thats in the mine [goes to] a pond next door to the open-pit mine, where well settle out the sedimentary material. It will be a closed system. So, no water thats been disturbed or polluted in any way will get out into the secondary environment. Its very much contained and has an incredibly small footprint.

The machine has been devised so that all the hydraulic fluids in the machine are biodegradable. Id be lying to you if I said were not going to burst hydraulic hoses once in a while. We will have hydraulic oil spills, but [they will be] biodegradable hydraulic oils by design that will not contaminate the water in any meaningful way. So, the environmental impact is much lower, and thats a positive for the project as well.

What has been the reaction from the local community to Ekati restarting?

Our northern partners are very relieved that we are back in production. We have a lot of training and career opportunities for people of the north. There was big relief that we did come through the CCAA process, that weve hired a whole lot of new people, and our training programs, apprenticeship programs, leadership programs are back in place. Weve got partnerships with the local indigenous groups and communities. Theyve supported us very well, as has the government of Northwest Territories. Its all pretty positive, after a tough period of 10 months not being in production

You no longer have 40% ownership in the Diavik mine, as Rio Tinto took it over. How does that affect you?

On a practical basis, it doesnt impact us much, because we were essentially a passive partner in that. Rio Tinto operated that mine and we just participated in quarterly management committee meetings. It doesnt impact our workforce in any way, as we had nobody working at Diavik.

What it does impact is the product mix that we take to the market. We used to have a big production out of Ekati, supplemented by a fairly significant production out of Diavik, which gave us higher carats and higher volumes to sell into the rough market and gave us more options for product mix for our clients. Weve lost a bit of flexibility in accommodating our clients exact needs when it comes to the product mixes.

But the productions are fairly similar between Ekati and Diavik. So, the impact of that hasnt been too significant. Its more that weve just got a lower volume of diamonds to sell.

Your company has been renamed Arctic, which is probably a more potent name from a marketing point of view, in that it symbolizes Canada. Do you expect to get more involved in marketing your product?

We recognize that we are diamond producers, and thats what weve got to focus on. We are an active member of the Natural Diamond Council, and so we actively participate in that and contribute to that initiative through our membership fees. We think that the Natural Diamond Council is doing a great job of promoting natural diamonds. We recognize that if you wanted to do a good job of marketing a luxury product like diamonds, youve got to have a big budget for that, and thats just not where we fit in. All of us producers together are much more powerful than individuals trying to do that separately.

A lot of producers are looking into origin certification? Will you do that?

A percentage of our diamonds are sold through the Canadamark program. They tend to be the higher-quality goods. We think its an important consideration, given that the new generations of customers are much more concerned about the origin of the products that they buy and that the products have been produced a sustainable way. I think Canadian-origin diamonds are highly prized by millennials because they know that Canada has high environmental guidelines and social economic guidelines and the way we run our mines in Canada is of the highest standard. Thats not to say that a diamond produced in Africa has not been ethically produced, because the big mines in Africa are run according to the highest international standards. There may be a perception that all these African [stones] are still blood diamonds, but the reality is that the absolute majority of diamonds coming out of Africa are produced in a very ethical way. But Canada does have brand appeal.

Theres been talk of new factories in Canada. Thats been tried before, and it didnt work. Do you think Canadian cutting has a future?

I think its always going to be a challenge to manufacture diamonds in Canada, particularly in the north. You are competing against India, and India has really done an incredible job of capturing that part of the supply chain of diamonds. You cant compete on costs, and they actually have become incredibly skilled at polishing diamonds.

Its admirable to see people try, because the more we can capture business opportunities in Canada, the better. But I think its a struggle.

Do you expect rough diamond prices to continue to remain strong?

At the moment, everybody in the business expects that rough diamond prices will remain strong in the short- to medium-term. Obviously, its very difficult to predict longer term. Supply has been impacted by COVID, so supply of rough diamonds is lower than it was forecast to be. Demand is incredibly strong, fueled mostly by the U.S. and China. Theres been very strong demand for our product, and the commentary over the holiday season was that sales were very strong on the retail side. In the short-term, I think the macro factors for our industry, and for rough diamond prices, are very good.

(Photos courtesy of Arctic Canadian Diamond Co.)

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Interview With Rory Moore, CEO Of Arctic Canadian Diamond Co. - JCK

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Recent Publications by Several Independent Laboratories Show ADG20 Has Neutralizing Activity with Potency Comparable to Other Antibodies that Retain Activity Against Omicron

Multiple Efforts Underway to Address Omicron and Potential Future SARS-CoV-2 Variants

WALTHAM, Mass., Jan. 12, 2022 (GLOBE NEWSWIRE) Adagio Therapeutics, Inc., (Nasdaq: ADGI), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of antibody-based solutions for infectious diseases with pandemic potential, today summarized recent findings reported in three separate publications that show ADG20, its lead monoclonal antibody (mAb), has neutralization activity against the Omicron (B.1.1.529) variant of SARS-CoV-2, and outlined initiatives to address current and future SARS-CoV-2 variants of concern. Adagio is evaluating ADG20 in its global Phase 2/3 clinical trials for both the prevention and treatment of COVID-19. Adagio is engaging with the U.S. Food and Drug Administration (FDA) regarding potential protocol updates to its global Phase 2/3 clinical trials, including an increased dose of ADG20 for the potential prevention and treatment of COVID-19 resulting from the Omicron variant.

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ADG20 Neutralizing Activity Against Omicron Recently published in vitro studies examined the neutralization potencies of large panels of mAbs against the Omicron variant in both authentic and pseudovirus assays. Findings across all three studies show that among mAbs in late-stage clinical development or with Emergency Use Authorization (EUA), ADG20 is one of only a few mAbs that demonstrated neutralizing activity against Omicron. Across two distinct authentic neutralization assays against Omicron, the data show that ADG20 had an IC 50 , a measurement of neutralization potency, of approximately 0.4 to 1.1 g/mL, which is comparable with the two other active mAbs, sotrovimab and AZD7742.

What is critical to assessing potential clinical effectiveness of SARS-CoV-2 mAbs is the neutralization potency by the mAb against a specific variant. While findings may show that ADG20 has reduced potency against Omicron when compared to its high potency against all other variants of concern, including Delta, the data support that ADG20 is among the few mAbs to demonstrate neutralizing activity against the Omicron variant and warrants its continued development, said Laura Walker, Ph.D., chief scientific officer and co-founder of Adagio.

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These data add to previously reported in vitro data from a variety of preclinical studies that showed that ADG20 retains activity against other variants of concern including Alpha, Beta, Delta and Gamma, and that ADG20 retains neutralizing activity against a diverse panel of circulating SARS-CoV-2 variants, including the Lambda, Mu and Delta plus variants.

Clinical Trial Update to Address Omicron Adagio is continuing evaluation of ADG20 in its EVADE and STAMP clinical trials. Adagio is engaging with the FDA on dosing strategy, including an increased dose of ADG20 and other protocol updates in light of the spread of the Omicron variant. Adagio is pausing the enrollment of new patients in the300 mg dose arm in both clinical trials as the company updates its protocols. Follow-up and monitoring of patients previously administered ADG20 are continuing per the original protocols.

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Additional Efforts to Address Omicron and Future Variants In addition to its clinical trial updates, Adagio is pursuing multiple strategies to address both Omicron and potential future variants that may emerge. Leveraging its exclusive partnership with Adimab LLC, a global leader in antibody engineering, Adagio is exploring the potential to engineer ADG20 to further improve binding to the Omicron variant to enhance its neutralization potency against Omicron while retaining its broad neutralization against other SARS-CoV-2 variants of concern. In parallel, Adagio is assessing several hundred mAbs from its proprietary library of previously isolated SARS-CoV-2 antibodies for their neutralization potency against Omicron. Such an additional neutralizing mAb could be developed as a stand-alone product or as part of a combination approach. These efforts are underway, and the company anticipates preliminary findings from its research in the first quarter of 2022.

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SARS-CoV-2 is a quickly evolving virus, and at Adagio, we are committed to adapting just as quickly. It is abundantly clear that no single product will fully address the evolving nature of the COVID-19 pandemic, and that multiple preventative and therapeutic solutions are needed. Based on both in-house data and third-party findings, we are confident that ADG20 can be an important tool in the fight against this virus, added Tillman Gerngross, Ph.D., co-founder and chief executive officer of Adagio.

About ADG20 ADG20, an investigational monoclonal antibody targeting the spike protein of SARS-CoV-2 and related coronaviruses, is being evaluated in global clinical trials for the prevention and treatment of COVID-19, the disease caused by SARS-CoV-2. ADG20 was designed to possess high potency and broad neutralization activity against SARS-CoV-2 and additional clade 1 sarbecoviruses by targeting a highly conserved epitope in the receptor binding domain. ADG20 was further engineered to provide an extended half-life for durable protection. In vitro data from a variety of preclinical studies have shown that ADG20 retains neutralizing activity against all known SARS-CoV-2 variants of concern. In a Phase 1 trial, ADG20 was well-tolerated with no safety signals identified through a minimum of three months follow-up across all cohorts. ADG20 has not been approved for use in any country, and safety and efficacy have not yet been established.

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About Adagio Therapeutics Adagio (Nasdaq: ADGI) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of antibody-based solutions for infectious diseases with pandemic potential, including COVID-19 and influenza. The companys portfolio of antibodies has been optimized using Adimabs industry-leading antibody engineering capabilities and is designed to provide patients and clinicians with the potential for a powerful combination of potency, breadth, durable protection (via half-life extension), manufacturability and affordability. Adagios portfolio of SARS-CoV-2 antibodies includes multiple non-competing, broadly neutralizing antibodies with distinct binding epitopes, led by ADG20. Adagio has secured manufacturing capacity for the production of ADG20 with third-party contract manufacturers to support the completion of clinical trials and initial commercial launch, ensuring the potential for broad accessibility to people around the world, if authorized or approved for use. For more information, please visit http://www.adagiotx.com .

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Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as anticipates, believes, expects, intends, projects, and future or similar expressions are intended to identify forward-looking statements. Forward-looking statements include statements concerning, among other things, the timing, progress and results of our preclinical studies and clinical trials of ADG20, including the initiation, modification and completion of studies or trials and related preparatory work, including our plans to evaluate dosing regimens and other protocol updates in our clinical trials, the period during which the results of our clinical trials and other studies and research activities will become available, and our research and development programs; our ability to obtain and maintain regulatory approvals for our product candidates; our pursuit of other strategies to address the Omicron variant, including modification of clinical trial protocols; and other statements that are not historical fact. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from the results described in or implied by the forward-looking statements, including, without limitation, the impacts of the COVID-19 pandemic on our business, clinical trials and financial position, unexpected safety or efficacy data observed during preclinical studies or clinical trials, the predictability of clinical success of ADG20 based on neutralizing activity in pre-clinical studies, variability of results in models used to predict activity against SARS-CoV-2 variants of concern, clinical trial site activation or enrollment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, and the uncertainties and timing of the regulatory approval process, including the outcome of our discussions with regulatory authorities concerning our Phase 2/3 clinical trials. Other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading Risk Factors in Adagios Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and in Adagios future reports to be filed with theSEC. Such risks may be amplified by the impacts of the COVID-19 pandemic. Forward-looking statements contained in this press release are made as of this date, and Adagio undertakes no duty to update such information except as required under applicable law.

Contacts: Media Contact: Dan Budwick, 1AB Dan@1abmedia.com

Investor Contact: Monique Allaire, THRUST Strategic Communications monique@thrustsc.com

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Adagio Therapeutics Summarizes ADG20 Neutralizing Activity Against SARS-CoV-2 Variants and Outlines Initiatives to Address Omicron - Financial Post

While competing on Gordon Ramseys new cooking show Next Level Chef, Auburn alumnus Jonathan Harrison was cooking with a cause: to bring Southern cooking to the world by being the face of progressive Southern food.

My goal with food is to use it as a tool to facilitate conversations that move the South forward and bring positive change for everyone in the South, said Harrison. With good food you can get different people to sit across from each other at a table, and thats where those conversations start that bring empathy and understanding. Thats how change happens.

The Columbiana, Alabama, native was one of 15 chefs competing for the $250,000 first-place prize on the new FOX show, the brainchild of celebrity chef Ramsay that was filmed in Las Vegas in September and is airing on Wednesday nights at 8 p.m. CT. Harrison, 29, studied journalism in the College of Liberal Arts and has worked as a chef, realtor and on-site coordinator for the 4-H Youth Development Center in his hometown since graduating from Auburn.

Harrisons love for Southern cooking has influenced him since he was a child. Growing up in what he calls a food-centric family placed some of his happiest times around a dinner table or at Sunday lunches. Harrison says that what he most looked forward to on weekends wasnt watching football or cartoons on television, but cooking shows like Ina Gartens Barefoot Contessa.

I remember watching Ina Garten on Food Network and was like, Wow, that looks good, Harrison said. I kept thinking I might be able to cook that if I could just get someone to buy me the ingredients. I just always absorbed it really easily.

Even though he had grown up in a family of Alabama fans, Harrison said he saw the light when he was 19 while visiting a friend on Auburns campus. The impact the university had on him was instantaneous. He transferred to Auburn and completed a degree in journalism, an experience he fondly remembers.

It felt like home immediately, and I loved it so, so much, Harrison said. Auburn feels like family, and thats what I love about it. It really is the most loving community, loving campus, family-oriented place, and I loved it.

Even when I was in the throes of my major, I felt so comfortable. I cant say enough good things about the communications and journalism department at Auburn.

While a student at Auburn, Harrison also learned to cook with limited means, a skill that would help him compete on Next Level Chef.

For a couple of years, I had to figure out how to make really good things on a very tight budget, he said. That really helped me figure out how to make things with not a lot to work with.

Originally, Harrison had considered a career in food journalism after graduating, but he ultimately changed his mind. Even though his career path changed, his love for cooking never left him. Harrison began posting photos of the meals he would cook at home on his Instagram page, and soon people began asking to get a taste of his food.

I started having driveway dinners during COVID, because we couldnt be inside and I couldnt host dinner parties, Harrison said. Thats when I started to realize that maybe I was better than I thought I was, or maybe I had the potential to be good.

I have always admired Southern Living, Bon Appetit, NYT Cooking and those type of things I read because you have to read to get good at something. You have to read, research and practice.

A friend sent Harrison a link to the application for Next Level Chef, but he shied away from applying and decided against it. After two weeks, Harrison had a change of heart and filled out and submitted the application. Even after receiving a text message asking to speak with him from the Next Level Chef team, Harrison could hardly believe there was a possibility of him making the show.

I didnt believe it was happening to me until wheels were up in September and I was headed to Las Vegas, he said.

The show turned into the experience of a lifetime for Harrison.

The experience was the best in my life, Harrison said. Ive never put myself in such an emotional pressure-cooker like that. I mean, youre cooking for arguably the heaviest hitter in the food game and two people he has deemed heavy hitters in the food game, so you are constantly nervous about them judging your food.

It was nerve-wracking, but the growth that I achieved while I was there was astonishing, and Im just really proud of putting myself out there.

Also, just as valuable as the knowledge gained were the friendships Harrison made while on the show.

I made friends that Ill always have who are from all walks of life, from all over the United States, and it was amazing, Harrison said. I mean, thats my whole deal. My whole deal is taking the South to the world and bringing the world to the South.

Now back in his hometown, Harrison works as a camp coordinator for the science school at the Alabama 4-H Center in Columbiana, Alabama. The 4-H Center is the central location of the Alabama 4-H Program, which is part of the Alabama Cooperative Extension System. Alabama Extension is the primary outreach and engagement organization for the land-grant mission of Alabama A&M and Auburn University, in cooperation with Tuskegee University.

Harrison helps book school trips to the center, organize activities for the groups and makes sure that everyone is prepared for a successful trip. He also books activities for groups using the conference center. The chance to interact with and have an impact on the youth of Alabama every day is the best part of the job for Harrison.

My favorite part of the job is the people and the kids, Harrison said. I get to interact with so many people from different places and get to really see the kids learn and grow on a daily basis, and thats really rewarding.

Kristy Abrams, director of the Alabama 4-H Center, was able to see Harrison put his passion for cooking into action while at work.

During COVID, the Alabama 4-H Center had to be creative to attract individuals because groups were not traveling, Abrams said. We hosted a variety of events: Great Family Stay-Cays, a music festival, Fourth of July event and a Fall Garden event. The 4-H Center had Jonathan prepare a farm-to-table meal for the Fall Garden event.

Jonathan could go from team building, to lifeguarding, to rocking out a campfire to preparing and cooking an incredible meal during these events. I was so proud when he told me he had been selected to be a contestant. He has a passion for people and a passion for food and was able to bring those two things together following his dreams.

Molly Gregg, assistant director of the 4-H Program, doesnt believe that there could have been a better person to represent the 4-H Program.

Jonathan represents the 4-H ideal, Gregg said. He discovered a passion for cooking that he shares with his community to build and create opportunities for people to feel a sense of belonging and have fun.

It is so fun to watch him now and think about him as a young 4-H camp counselor. He has been a shining light on the youth of Alabama and his community for a long time.

Looking forward, Harrison hopes to continue to push for change through his cooking however he can.

Id love to be out there as the face of progressive Southern food and really just push for equality for all groups of people all over the South and be accepting, loving and spreading the message of radical empathy as much as I can, Harrison said. Anywhere I can do that is where I want to be.

For Harrison, Auburn will always have a special place in his heart for the role it has played in his life.

I love Auburn so, so much, and I think Auburn changed the trajectory of my life, Harrison said. Im just so happy to hopefully be representing Auburn well.

Harrison offers further insight into his passion for cooking and his Southern roots on his Instagram page.

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Auburn alumnus, Extension coordinator competing on FOX's 'Next Level Chef,' cooking for change - Office of Communications and Marketing

On New Years Eve, the Biden-Harris Administration announced America will continue to support the International Space Station through 2030.

That was good news for NASA and its international partners on the station, and it was good for NASAs Marshall Space Flight Center in Huntsville.

About 650 people at Marshall support the science done on the station. Another 400 government employees and contractors in Huntsville work other aspects of the station program.

We were hoping that was coming, Marshalls Joseph Pelfrey said Thursday. Weve been preparing and expecting that announcement may get made. Its a big day for the agency and for Marshall. Were coming up in March on 21 years weve done continuous operations from Huntsville, from the Payload Operations Integration Center.

NASA Administrator Bill Nelson, who recently toured the center on a visit to Marshall, also praised the presidents decision. Im pleased that the Biden-Harris administration has committed to continuing station operations through 2030, Nelson said in a statement. The International Space Station is a beacon of peaceful international scientific collaboration and for more than 20 years has returned enormous scientific, educational and technological developments to benefit humanity.

Pelfrey manages the Human Exploration Development & Operations Office at Marshall. His teams work with and study the astronauts and the systems that control their environment in space.

How do we mitigate the risk and the different changes the body goes through? Pelfrey asked. Understanding that is critically important for us to go back to the moon and even do the longer duration missions that we want to do to get to Mars.

Late in 2021, NASA launched a carbon dioxide scrubber developed at Marshall to the station. It was an example of the orbiting stations research value.

Thats a technology we developed to increase our ability to scrub off CO2. And were able to demonstrate that on the space station, Pelfrey said. Its working so well were relying on it as part of the main station system.

The system or one like it will be expanded into a version that goes to the moon and on the ship that takes astronauts to Mars. The stations life extension means other systems developed in Huntsville can now be tested in space, including oxygen and water reclamation for the long haul to Mars.

Were also doing new things like more 3-D printing in space, Pelfrey said. When we go to Mars, if we had to carry everything we would need for the trip with us, thats a whole lot of mass and equipment.

Other experiments include growing food in space. We are successfully growing food in different chambers of the station, Pelfrey said. Again, if we can perfect that technology, its another thing we can grow on our way to Mars versus having to carry it with us.

Pelfrey said these examples just touch on the more than 300 experiments running on the station, all of it coordinated and managed by Huntsville and Houston, where the station itself is managed.

COVID has temporarily ended the regular tours where visitors could see the operations center working. Weve had to idle those tours, unfortunately, just for the safety of the team and reducing the number of people coming on site, Pelfrey said. Wed like to get everybody back to the office and get back to being able to tell that story.

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America and Alabama stay in the space station business - AL.com

Retail magnate Chris Dawsons The Range empire has been named the biggest company in Devon and Cornwall for 2021. The Plymouth-based discount retailer has continued on its UK expansion drive opening five stores during the pandemic and creating 1,747 jobs.

With 12, 800 employees on the books, the retailer is by far the biggest single employer in the region.

And Mr Dawson predicts the company will create another 2,700 jobs in the next year. He expects 2021/22 will show further sales growth as the group continues to explore all facets of retailing.

It's sales of 1.35 billion have been helped by being classed as an essential retailer and allowed to trade during repeated lockdowns. Now, The Range's parent company, Norton Group Holdings Ltd tops this year's Annual Business Guide: Top 150 businesses in Devon and Cornwall , published today by BusinessLive and sister print title Western Morning News.

In at number two is meat producers, Dunbia (UK), based in Hatherleigh.

In third spot is Devonport Dockyard, operated by Babcock International, with a turnover of 790,812,992 and 5,665 employees.

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The data for this years list has been compiled by Annual Business Guide partners PKF Francis Clark and is ranked by turnover.

The guide, which is officially published today, acts as a barometer for vital sectors, towns and cities across the region.

Duncan Leslie, partner at PKF Francis Clark, said: "The past two years have been challenging, whichever sector you are in. Many businesses have been in survival mode as the pandemic has tested operations, sales and marketing, IT, HR and finance teams through constant change.

"It is rare for businesses to have to engage with all of these teams to the extent that has been required over such a sustained period. For companies to remain joined up in their approach and focussed on key goals has been a massive challenge. It has been draining for everyone."

But South West business has been resilient - nearly a third of Top 150 companies grew revenues by more than 10% a strong performance in these difficult times.

Looking at the Top 150 as a whole, total employee numbers have risen almost 5% to 80,618. The 20 largest businesses account for 57% of all employment.

Total turnover is down slightly, to 13.75bn (2020: 13.89bn). However, year-on-year comparisons are skewed by the 24 new entrants on this years list.

One contributor to this overall reduction in turnover is Pennon Groups sale of Viridor, completed in July 2020. The Exeter-headquartered Plcs turnover was down 55%, while its 814m acquisition of Bristol Water Holdings announced in June 2021 is yet to be reflected in its full-year revenues.

Other eye-catching deals include the 969m acquisition of Exeter-based GCP Student Living by newly-formed Gemini Jersey JV.

The list does not include public sector and not-for-profit organisations.

Turnover: 1,352,486,016

Employees: 12,480

Retail magnate Chris Dawsons The Range chain of homeware stores saw sales leap by 352m during the worst of the Covid pandemic after his stores remained open as essential retailers.

The hike in earnings to 1.35bn in 2020 led to after-tax profits for the Plymouth-headquartered company jumping to 145m - more than three times the 47m profit made the previous year.

It made so much money it was able to repay a bank loan of 102m. But it has not repaid about 36m it saved during the year-long rates relief holiday, though it does not have to do this.

And despite the financial bounty, no dividend was paid to Mr Dawson, or his share-holding wife Sarah, for the second successive year, after more than 60m was paid out to the couple during 2018 and 2019.

The accounts for Norton Group Holdings Ltd, the holding company which includes The Range, revealed that the year to the end of January 2021 presented unprecedented challenges for the company due to the Covid crisis.

But when the business was designated, somewhat controversially at the time, an essential retailer it made hay during three lockdowns.

A strategic report penned by Mr Dawson said that significant restrictions were placed on stores in Wales and Ireland, limiting the products sold, but otherwise its outlets, some of which contain Iceland branches, were trading full tilt.

Mr Dawsons report said the hike in sales was due to classification as an essential retailer and a full year of trading for the 20 stores opened in the prior year.

Mr Dawson admitted the business benefited from the Governments business rates holiday - saving a reported 36m - but insisted it used the savings to offset costs involved in making stores Covid safe.

And Mr Dawson also stressed a 10% discount for NHS staff during the pandemic amounted to more than 2.8m of savings for those key workers.

Another five stores opened in 2020/21, and created 1,747 jobs, and Mr Dawson predicts the company will create another 2,700 jobs in the next year. He expects 2021/22 will show further sales growth as the group continues to explore all facets of retailing.

Turnover: 1,194,763,008

Employees: 4,551

Brothers Jim and Jack Dobson established Dungannon Meats, a premium butchers shop in Moygashel, Co Tyrone, Northern Ireland, in 1976, and the business has expanded through organic growth and via multiple acquisitions.

In July last year, Dawn Meats took full control of the Dunbia business after Jim Dobson's retirement.

It operates across 12 UK sites including Dunbia Treburley abattoir and processing plant in Launceston, and the Dunbia West Devon abattoir at Hatherleigh.

Highlights this year include the launch of its Sustainable Farming programme and a win at the Great Taste Awards with its Rose County 35 Day Dry Aged Native Breed Cote de Boeuf.

The group's Sustainability Report published in September reported a cut in greenhouse gases from its operations and supply chain by 248,000 tons in 2020 compared to 2016.

It uses 100% renewable electricity and has invested in refrigeration upgrades and lower emission thermal energy generation.

Progress is being made right across the Dunbia supply chain, with 99% of livestock sourced from Red Tractor Assured farms in the UK. All of Dunbias rigid plastic packaging trays now having a 90% average recycled content.

Turnover: 790,812,992

Employees: 5,665

The company which runs Plymouths Devonport Dockyard is a subsidiary of engineering giant Babcock International Group Plc, which has the exclusive contract to refuel and refit all the Royal Navy nuclear submarines at Britains single submarine refitting dock.

Devonport Royal Dockyard, in addition to maintaining and refitting Royal Navy warships and submarines, also carries out other engineering services for the MoD.

Following a restructure of Babcock Internationals operating model the submarine and naval base services now are part of the companys Nuclear sector, while warship and other services remain in the Marine sector.

A new, five-year Future Maritime Support Programme (FMSP) began in April 2021, with an option to extend the deal with the MoD for another two years, and includes deep maintenance of the Vanguard and Astute class submarines.

During 2021/22 the dockyard will be working on a Type 23 frigate refit and life extension and continuing with the deep maintenance and refuelling of the Trident sub.

The 600m project to refit and extend the life of Britains fleet of Type 23 frigates has been ongoing at Devonport for the past few years with HMS Somerset leaving the huge Frigate Support Centre dry dock sheds in late 2020, with the space filled by HMS Sutherland, while HMS St Albans and HMS Iron Duke were also in mid-refit and upgrade.

Devonport Royal Dockyard is also engaged in design work on the new generation of submarines, which will replace Vanguard, and surface ships and on modernisation of infrastructure to support future submarine and warship programmes.

Work has now started on a 2bn rebuild of facilities at Devonport Dockyard which will create more than 600 construction jobs during the next five years.

Turnover: 624,099,968

Employees: 1,987

Exeter-based Pennon Group had a good end to the year, reporting a 90.4m pre-tax profit for the past six months to November - a 4.3%% hike on the same period in Covid-hit 2020 - partly thanks to its acquisition of Bristol Water.

The parent firm of South West Water, Bournemouth Water and now Bristol Water, saw a profit increase on the 86.7m underlying profit made in the first six months of the 2020/21 financial year and also saw a 21.8% jump in revenue to 389.3m for H12021/22.

It was helped by the June 2021 acquisition of Bristol Water, which contributed to 41.6m to underlying revenue.

Underlying revenue was also helped by the recovery of non-household demand, as businesses opened up post-lockdown, and contract wins for Pennon Water Services, the firms business water division.

Pennon called the performance resilient after the Covid pandemic and Government imposed price cuts took a bite out of earnings in 2020/21.

In 2020, the firm welcomed its new chief executive Susan Davey, handed out a 20million windfall for customers and oversaw the 4.2billion sale of waste management operator, Viridor.

It announced big plans to invest in new technology and environmental improvements, and in its workforce, and by using some of the proceeds of its Viridor sale to pay down debt and bolster its pension scheme.

The firm is one of only a handful on the FTSE 350 to have both a female Chief Executive and Chairman and is a key stakeholder in the #BackTheGreatSouthWest campaign championing levelling up in the South West.

It has launched a Green Recovery Initiative which includes a plan to create up to 500 new jobs to support the local economy and to develop new green skills.

In September, it welcomed 26 graduates as part of South West Waters new Graduate Management Programme and also became one of the first companies to sign up to the Governments Kickstart scheme providing 50 six-month paid work placements to young people at risk of long-term unemployment.

It also signed up to support the #10,000 black interns initiative to offer black students placements that also improves the levels of ethnic diversity and talent across the industry.

Turnover: 511,569,984

Employees: 1,094

Turnover for the firm is down from 643,371,000 on the previous year, but the position of Helston Garages Group remains strong as one of the most successful firms in Devon and Cornwall, slipping just one place in this year's list.

Car ownership in general has taken a backseat as more people ditch the commute during the pandemic and work from home.

But with a rural population and a patchy public transport network, confidence in car ownership remains relatively strong in the region.

Helston Garages Group operates 43 motor dealerships throughout Cornwall, Devon, Somerset and Dorset selling Audi, BMW, Ferrari, Maserati and Volkswagen.

Established in 1960, the family-run business has expanded from a single filling station and repairs workshop to one of the UK's top 25 dealerships.

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Turnover: 473,171,008

Employees: 1,979

This South West retail firm is one of the UK's largest agricultural suppliers with holdings in Wales and more recently Scotland. This includes Mole Valley Farmers branches and Bridgmans stores across the South West, Mole Country Stores, Cox & Robinson farm direct outlets in the South and East of England, and manufacturing sites across England, and Scotland.

Formed by a band of disgruntled maverick farmers in South Molton, Mole Valley Farmers marked its 60th anniversary in 2020.

It welcomed new Chief Executive Jack Cordery, who succeeded Andrew Jackson after he retired in 2019.

Mole Valley was classed as an essesntial retailer during the early stages of the pandemic and remained open during repeated lockdowns in 2020 and 2021.

This year, it published its environmental roadmap to become carbon net zero by 2040.

It launched its Climate Positive Agriculture initiative helping farmers lower their farm's environmental footprint, including addressing the use of palm oil and soya in animal feeds.

Turnover: 365,416,992

Employees: 654

Based in South Molton, Norbord Europe is the UKs number one engineered wood panel manufacturer and serving the housebuilding and construction industry with flooring, panelling and roofing. This world-leading manufacturer of engineered wood-based panel products has been supplying products to Europe for over 40 years.

It has three mills in the UK and one in Belgium. Its South Molton site manufactures particleboard, loft flooring panels, Contiboard DIY shelving and flat pack furniture.

Norbord Europe is part of Norbord Incorporated, which was acquired by publicly listed Canada-owned timber firm West Fraser in February 2021.

Turnover: 296,870,016

Employees: 741

One of North Devon's biggest employers, this pharmaceutical company is involved in the development, manufacturing and distribution of pharmaceutical products to more than 70 countries.

During the early stages of the pandemic in 2020, managers recognsied that its products would be in high demand.

It started the recruitment of a shadow workforce - 50 new staff who were trained up and could step in to safeguard against staff sickness or shielding ensuring there was little disruption of its supply chain to the NHS and other stockists.

The facility employs more than 700 people making five billion tablets every year at its manufacturing plant in North Devon. It supplies generic medicines and is one of the fastest growing generic pharmaceutical companies in the UK and Ireland.

The Accord site in Barnstaple acts as the centre of its UK operations, helping to make a significant contribution nationally to the NHS, as well as locally to the community in Devon. The site is one of the largest employers in Barnstaple and has an established apprenticeship programme.

The site is also a designated landing site for the Devon Air Ambulance Trust.

Turnover: 291,267,008

Employees: 498

One of the UKs largest privately-owned construction and property services companies, Midas has grown to become one of the UKs largest independent construction and property services providers, with offices in Indian Queens in Cornwall, Exeter, Newton Abbot, Bristol, Newport in South Wales and Southampton.

A flagship build this year has been Exeters new 6.6million zero-carbon office and laboratory building, the Ada Lovelace Building on Exeter Science Park.

It has also started work on a 6.3million STEM and Health Skills Centre for Truro and Penwith College, Cornwall which will train the aerospace, space, creative, energy, mining and health sector workers of tomorrow.

It has also worked on the first phase of the Oceansgate marine enterprise project in South Yard, Plymouth, and a series of schemes across Cornwall and Devon including the Gateway Retail Park at Marsh Mills in Plymouth, Cornwalls archive centre Kresen Kernow, a Premier Inn for Wadebridge and the 17million Hi-Tech and Digital Centre at South Devon College.

The projects mark an upturn after the pandemic in 2020 led to the firm making a 2m loss - its first in 40 years of trading.

During the period, disruption, including lockdowns, had an adverse effect on revenue and profit with some projects ceasing work temporarily and significant work taking place to develop and successfully implement plans to safeguard the health, safety and wellbeing of employees and contractors, in compliance with government and Construction Leadership Council guidance.

It reported in June this year that it had maintained a strong order book.

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Revealed: The Top 150 businesses in Devon and Cornwall in 2021 - Business Live