Artificial Intelligence
Leukocare Announces USD 17.5 Million Financing Round to Further Expand US Business and Bioinformatics Activities
MARTINSRIED, Germany and MUNICH, Germany and MILFORD, Mass., June 23, 2021 (GLOBE NEWSWIRE) — Leukocare AG, a biotechnology company specialized in the field of biopharmaceutical formulation development, today announced the closing of a USD 17.5 million (EUR 14.6 million) financing, led by Petrichor Healthcare Capital Management, with participation from existing Leukocare shareholders. The financing consists of a USD 15 million convertible loan and a USD 2.5 million equity investment from Petrichor. Proceeds will be used to accelerate Leukocare’s US expansion activities, bolster the Company’s market-leading expertise in the fields of viral vector and vaccine formulation, as well as the emerging field of mRNA formulation, and to expand the Company’s suite of bioinformatics capabilities.
Michael Scholl, Chief Executive Officer at Leukocare, said, “We are thrilled about the completion of this financing round. Our vast expertise in formulation development of biopharmaceuticals and viral vectors in combination with innovative bioinformatics puts us at the forefront of drug product development in these fields. This funding enables us to expedite our growth plans which encompass enhancing our bioinformatics capabilities as well as growing Leukocare´s market presence in the US. I would like to thank our new investor Petrichor and our existing shareholders for their continuous support and trust.”
Following the financing, Tadd Wessel, Founder and Managing Partner at Petrichor, will join Leukocare’s Supervisory Board. Mr. Wessel brings more than 20 years of experience in healthcare finance and, prior to founding Petrichor, served as a Managing Director at OrbiMed Advisors, where he led the build-out of the healthcare special situations and structured finance business.
Tadd Wessel added: “Leukocare’s market-leading expertise in formulation development for complex and innovative products, particularly those in increasingly important fields such as viral vectors and mRNA therapeutics, combined with their in-house expertise in artificial intelligence and biostatistics, makes them an unparalleled innovator in this rapidly growing biopharma subsector. We believe our partnership will help Leukocare accelerate into their next stage of growth, both here in the US and beyond.”
Georg Dönges, Chief Financial Officer at Leukocare, commented: “This unique form of financing and the partnership qualities that Petrichor provides are ideally suited to support Leukocare at our current development stage, and will enable us to rapidly pursue our multifaceted growth initiatives.”
In January 2021, Leukocare started its US operations with the opening of development laboratories and offices in Milford, Massachusetts. This strategic step gave Leukocare the opportunity to collaborate even more closely with US-based customers and partners in the field of drug product formulation development for biopharmaceuticals and advanced therapy medicinal products (ATMP).
The Company’s in-house bioinformatics team enables the development of superior formulations in less time, by leveraging best-in-class biostatistics with deep learning algorithms. Together, these allow coverage of a broader design space, providing precisely tailored solutions from a wider range of options. Further investments in machine learning and enlarging the database will strengthen Leukocare´s approach to substitute high-throughput screening with in silico experiments, ultimately amplifying the formulation scientist’s field of knowledge.
About Leukocare AG
Leukocare AG, located in Martinsried/Munich, Germany and Milford, MA, USA, is a biotechnology company specialized in the field of biopharmaceutical formulation development. Operating at the interface of drug substance and drug product development, Leukocare combines sound knowledge of formulation development with bioinformatics and artificial intelligence.
The formulation development approach consists of two elements: a library of up to 100 different regulatory well-established and employed excipients and a rational development approach which employs statistical software and self-learning algorithms as well as state of the art design of experiment (DoE) matrices. By utilizing the artificial intelligence elements, Leukocare is able to specifically combine excipients leading to stabilizing formulations tailored to the drug product’s needs.
Leukocare’s superior and innovative drug product formulations can be applied to a broad range of applications: biologics & biosimilars, vaccines & viral vectors and biofunctionalized devices.
About Petrichor Healthcare Capital Management
Petrichor Healthcare Capital Management partners with world-class healthcare managers and businesses to provide customized investment structures and support. The Petrichor team of investment professionals comes from highly-regarded financial institutions including OrbiMed Advisors and Fortress Investment Group. Collectively, the team has completed over 80 investments representing more than $5 billion in invested capital and has held over 30 board seats. Petrichor maintains a deep in-house understanding of healthcare products and services, including scientific, technical, and commercial expertise. This healthcare expertise, together with a breadth of experience investing across sectors, geographies, and capital structures, provides a unique combination to help build successful companies.
For more information, please visit www.petrichorcap.com.
Artificial Intelligence
Erste Asset Management Selects Clearwater Analytics to Help Support Business Growth
Clearwater Will Aggregate Multi-Asset Client Investment Data, Help Increase Asset Flows and Strengthen Client Service
BOISE, Idaho and VIENNA, May 14, 2024 /PRNewswire/ — Clearwater Analytics (NYSE: CWAN), a leading worldwide provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that Erste Asset Management GmbH, part of Erste Group Bank AG, has joined its community of European buy-side clients. Erste Asset Management (Erste AM) is one of the leading asset managers in Central and Eastern Europe managing €81.4 billion in assets for a broad client base including pension plans.
Erste AM has chosen Clearwater’s cloud-native client reporting platform following a rigorous RFP selection process. By leveraging the Clearwater PRISM platform, Erste AM will be able to provide highly customized digital client experiences. Additionally, clients will have the ability to configure insights and analytics as well as access data in a self-service manner, allowing for quick reporting changes when needed.
“We are dedicated to surpassing customer expectations and providing exceptional client reporting across all channels,” said Winfried Buchbauer, COO and Board Member of Erste Asset Management. “Clearwater stood out from other solutions due to its flexible and cloud-native client reporting solution. Clearwater PRISM will allow us to easily tailor reports to our clients’ needs. With a comprehensive view of data, insights, and relevant analytics, our team is empowered to help differentiate our offerings in the market.”
“We understand the importance of this project to Erste Asset Management and are appreciative of the trust they have placed in us to deliver for their employees, stakeholders and clients,” expressed Keith Viverito, General Manager of EMEA and APAC at Clearwater Analytics. “This partnership underscores the best-in-class client reporting capabilities of our Clearwater PRISM platform. By bridging a critical industry gap, PRISM empowers firms like Erste Asset Management to centralize reporting across multiple systems, simplifying and modernizing the operating model and unlocking opportunities for differentiation and significantly enhanced client reporting experiences.”
Clearwater PRISM is a leading data management and client reporting platform for firms that want a comprehensive view of their portfolios across multiple platforms and all asset types. Leading organizations are making Clearwater PRISM an integral part of their investment data management strategy. To learn more about Clearwater PRISM, speak to an expert today.
About Erste Asset Management
Erste Asset Management (Erste AM) coordinates, and is responsible for, all asset management activities within Erste Group Bank AG. At our offices in Austria, Croatia, Czech Republic, Germany, Hungary, Romania and Slovakia, we manage assets of EUR 81.4 bn (31.03.2024).
About Clearwater Analytics
Clearwater Analytics (NYSE: CWAN), a global, industry-leading SaaS solution, automates the entire investment lifecycle. With a single instance, multi-tenant architecture, Clearwater offers award-winning investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. Each day, leading insurers, asset managers, corporations, and governments use Clearwater’s trusted data to drive efficient, scalable investing on more than $7.3 trillion in assets spanning traditional and alternative asset types. Additional information about Clearwater can be found at clearwateranalytics.com.
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STOCKHOLM, May 14, 2024 /PRNewswire/ — Today, Tuesday 14 May, starting at 13:30 CEST, ASSA ABLOY hosts its Capital Markets Day in Prague, Czech Republic, where Nico Delvaux, President & CEO and Erik Pieder, CFO, will provide an update on ASSA ABLOY’s strategy and direction. This will include an overview of strategic activities that ASSA ABLOY is working on to continue to grow the business profitably. The financial targets of an EBIT-margin of 16-17% and an annual sales growth of 10% over a business cycle are re-confirmed. No detailed outlook statement will be made.
The CMD will also include an overview of Global Technologies’ business unit Global Solutions, the recently acquired Hardware and Home Improvement (HHI) as well as an overview of the Entrance Systems division.
Speakers during the day are Stephanie Ordan, Head of Global Solutions, Tim Goff, Head of Americas Residential (HHI) and Massimo Grassi, Head of Entrance Systems.
The CMD will continue tomorrow with a site visit at our cylinder factory in Rychnov, Czech Republic.
Some of the material from the CMD will be made available on our website www.assaabloy.com/group/en/investors a couple of days after the event.
For more information, please contact:Carl Wahlberg, Investor Relations OfficerPhone: +46 (0) 733 27 27 [email protected]
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Artificial Intelligence
HTX Ventures Invests in ChainML, Developer of Theoriq AI Agent Protocol, to Support Decentralized AI Agent Protocol Development
SINGAPORE, May 14, 2024 /PRNewswire/ — With a commitment to broadening the reach and usability of blockchain technologies, HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in ChainML, a Silicon Valley-based AI and ML development and research lab that recently unveiled its groundbreaking Agentic Base Layer, Theoriq.
ChainML recently raised $6.2 million during its Super Seed funding round, led by Hack VC. The funding underscores the confidence and excitement surrounding ChainML’s vision to seamlessly integrate AI into the decentralized world of blockchain and revolutionize the AI landscape. By providing a platform like Theoriq for limitless AI innovation, built on the principles of composability, extensibility, and community-driven governance, ChainML promises to offer an unmatched ecosystem for deploying sophisticated AI agents that leverage Web3 technology to ensure transparency, security, and efficiency.
Theoriq’s axioms, based on principles of social evolution and implemented with blockchain, lay the foundation for continuously improving, community-governed AI systems.
Key features include:
Agentic Primities: Fundamental elements in the ecosystem that facilitate autonomous interaction, embodying roles, behaviors, and functions that contribute directly to an agent’s capacity to operate independently within its environment.Modular Composability: Allowing developers to craft tailored AI solutions that can combine and be recombined to create sophisticated systems to evolve and adapt over time.Community Permissioned Governance: Ensuring that decision-making authority is vested in a diverse group of community stakeholders who actively contribute to and provide feedback on the quality of AI agents, ensuring that the technology aligns with collective goals and values.Edward, Managing Partner at HTX Ventures, said “ChainML’s Theoriq is an innovative platform that provides an actionable solution for AI agents to interact interchangeably, packed with more autonomy and capability. The platform paves the way for the future of AI, we are excited to be part of this journey.”
“Today marks a pivotal moment for ChainML and for the broader AI and Web3 communities,” said Ron Bodkin, Co-founder & CEO of ChainML. “With Theoriq, we’re not just launching a product—we’re spearheading a movement towards a transparent, community-governed AI ecosystem. HTX Ventures’ support will be instrumental as we unlock new potentials for AI integration within the decentralized space.”
HTX Ventures is excited to support innovative projects like ChainML, which combine AI development with blockchain to explore new synergies. Users can interact with the Theoriq testnet this summer by joining the waitlist.
Contact DetailsMichael [email protected]
Company Websitehttps://www.htx.com/en-us/ventures
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