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Alto Neuroscience Emerges with Largest Clinical-Stage Precision Psychiatry Pipeline and $40 Million in Financing

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–Advancing 11 clinical-stage assets across psychiatric conditions with Phase 2 data readouts in MDD and PTSD for each of its three lead candidates expected by mid-2023–

–Over $40 million in capital raised, including a $32 million Series A investment led by Apeiron Investment Group with participation from leading investors

–Platform based on seminal work at Stanford University by founder Amit Etkin, M.D., Ph.D.–

LOS ALTOS, Calif., Oct. 14, 2021 (GLOBE NEWSWIRE) — Alto Neuroscience today announced its emergence from stealth with $40 million in funding to advance the largest clinical-stage pipeline of precision psychiatry medicines. By leveraging its proprietary artificial intelligence (AI)-based brain biomarker platform, the company is advancing 11 clinical-stage assets, with three currently in Phase 2a studies for major depressive disorder (MDD) and post-traumatic stress disorder (PTSD). The company anticipates Phase 2 data readouts in these indications for each drug candidate by mid-2023.

Alto’s platform evolved out of more than a decade of clinical neuroscience research from the distinguished Etkin Lab at Stanford University and has since been validated by numerous publications in high-impact, peer-reviewed academic journals. This work was also recognized by the National Institutes of Health through the prestigious Director’s Pioneer Award received by Dr. Etkin, the first to be awarded in clinical psychiatry. Recognizing the therapeutic potential of these findings, Dr. Etkin is departing a tenured professorship at Stanford to continue leading Alto with the goal of revolutionizing the diagnosis and treatment of mental health conditions.

“For years, I personally witnessed the limitations of existing mental health treatments and lack of innovation in the space when caring for my own patients,” said Amit Etkin, M.D., Ph.D., founder and chief executive officer of Alto. “Our precision psychiatry platform enables us, for the first time, to take differences in an individual’s biology into consideration to identify the right treatment from those we are developing. We believe this paradigm shift will allow us to move away from the trial-and-error approach that pervades clinical care today.”

Dr. Etkin continued, “Our ultimate vision is to take the guesswork out of treating mental health conditions to dramatically improve people’s lives.”

Making Medicines with the Patient in Mind

Mental health conditions are driven by unique biological factors and people with the same diagnosis may respond to a given drug differently. Historically, clinical trial design has not adequately accounted for these differences, contributing to a persistent lack of innovation and fundamental failures in psychiatric drug development. In the past 20 years, only one drug that works in a new way has been approved for MDD and none have been approved for PTSD or addiction.

Christian Angermayer, entrepreneur and founder of Apeiron Investment Group, said, “Alto is well-positioned to revolutionize the treatment of psychiatric disorders by aligning the right patient with the right drug. At Apeiron, we have seen recent advancements attempting to expand the toolkit for mental well-being but continue to recognize the dire need to improve the way drugs are developed in this space and believe Alto is the team to make precision psychiatry a reality.”

Platform-Based Development Model Provides Future Value Generation

The company’s targeted approach leverages brain biomarkers such as behavior, electroencephalogram (EEG) activity, and sleep and activity patterns to identify likely drug responders. These biomarkers are synthesized using AI approaches, which have been validated by Alto to identify people who respond better to a drug versus placebo, or differentially across types of treatment. Many of the biomarkers will ultimately be measured directly from remote-deliverable tools such as computerized behavioral tests and wearables, or by using in-home EEGs, increasing patient access and ease of use.

Thomas Insel, M.D., former director of the National Institute of Mental Health (NIMH), added, “The work Alto is leading has the potential to be transformative for patients living with mental health disorders who, for too long, have been forced to accept treatments that don’t target the underlying biology of their conditions. The company’s disruptive approach has already generated an innovative pipeline of novel medications, setting the stage for rapid near-term clinical impact.”

Advancing the Largest Clinical-Stage Precision Psychiatry Pipeline for Mental Health Conditions

Alto is leveraging its deep understanding of brain biology and its AI-enabled brain biomarker platform to advance the largest clinical-stage precision psychiatry pipeline, specifically targeting three key mental health domains: cognition, emotion and sleep. Each of these three domains are relevant across numerous psychiatric disorders. Of its 11 assets, the company is currently conducting Phase 2a studies with three, ALTO-100, ALTO-202 and ALTO-300, each of which is being assessed in MDD and PTSD.

Alto is supported with $40 million in financing raised to date, including a Series A investment led by Apeiron Investment Group. In addition to Apeiron, the company is backed by investors with a strong commitment to the improvement of mental health treatment, including Windham Venture Partners, What If Ventures, Able Partners, Risk and Return, Tim Kendall, and other unnamed investors.

A Founder-Led, Patient-Centric Team of World Class Experts

Alto’s founder-led, world-class interdisciplinary team has been involved in the approval of 25 drugs and the investigation of more than 100. Together, they bring deep experience in clinical trials, data science and computation.

Alto’s executive team includes:

  • Amit Etkin, M.D., Ph.D., founder and chief executive officer
  • Dan Segal, co-founder and chief operating officer
  • Adam Savitz, M.D., Ph.D., chief medical officer
  • Wei Wu, Ph.D., co-founder and chief data science officer
  • Nick Smith, chief business officer
  • Lesley Parker, vice president, clinical operations
  • Bruce Morimoto, Ph.D., vice president, drug development

Alto’s board of directors includes:

  • Amit Etkin, M.D., Ph.D., founder and chief executive officer
  • Dan Segal, co-founder and chief operating officer
  • Gwill York, MBA, founding managing director, Lighthouse Capital Partners
  • Aaron Weaver, principal, Apeiron Investment Group

Alto is also supported by a scientific advisory board (SAB) comprising experienced and accomplished leaders in their respective fields. The SAB includes Thomas Insel, M.D., former director of the NIMH, Madhukar Trivedi, M.D., professor at UTSW, Alan Schatzberg, M.D., professor at Stanford and Fei-Fei Li, Ph.D., professor at Stanford.

About Alto Neuroscience
Alto Neuroscience is redefining psychiatry by developing personalized and highly effective medicines to help patients get better faster. Its artificial intelligence (AI)-enabled platform measures biomarkers like EEG and wearable data, behavioral patterns, genetics and other factors, to match patients with the treatment they are most likely to respond to. The company’s clinical-stage pipeline includes drug candidates across three key mental health domains: cognition, emotion and sleep. For more information, visit https://www.altoneuroscience.com or follow us on Twitter.

Investor Contact
Nick Smith
[email protected]

Media Contact
Jordann Phillips
[email protected]

 

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Artificial Intelligence

Oncolytics Biotech® Announces Upcoming Presentations at the American Society of Clinical Oncology Annual Meeting

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SAN DIEGO and CALGARY, AB, April 25, 2024 /PRNewswire/ — Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced the acceptance of two abstracts at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, which is taking place from May 31 – June 4, 2024, in Chicago, Illinois. Details on the abstracts and poster presentation are shown below.

Title: Phase 1/2 randomized, open-label, multicenter, Simon two-stage study of pelareorep combined with modified FOLFIRINOX +/- atezolizumab in patients with metastatic pancreatic ductal adenocarcinoma.
Presentation Type: PosterAbstract Number: TPS4203Session Title: Gastrointestinal Cancer – Gastroesophageal, Pancreatic, and HepatobiliarySession Date and Time: June 1, 2024, 1:30 – 4:30 p.m. CTTitle: Pelareorep driven blood TIL expansion in patients with pancreatic, breast and colon cancer.Presentation Type: Online abstractAbstract Number: e14625
Abstracts will be published on the ASCO Annual Meeting website at 5:00 p.m. ET on May 23, 2024.
About Oncolytics Biotech Inc.
Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in two randomized Phase 2 studies in metastatic breast cancer and Phase 1 and 2 studies in pancreatic cancer. It acts by inducing anti-cancer immune responses and promotes an inflamed tumor phenotype — turning “cold” tumors “hot” — through innate and adaptive immune responses to treat a variety of cancers.
Pelareorep has demonstrated synergies with multiple approved oncology treatments. Oncolytics is currently conducting and planning combination clinical trials with pelareorep in solid and hematological malignancies as it advances towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA. For further information, please visit: www.oncolyticsbiotech.com or follow the company on social media on LinkedIn and on X @oncolytics.
 
Company Contact
Jon Patton
Director of IR & Communication
[email protected]
 
Investor Relations for Oncolytics
Timothy McCarthy
LifeSci Advisors
+1-917-679-9282
[email protected]
 
 

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Artificial Intelligence

Internet of Things (IoT) Market to Expand at a Stellar 19.4% CAGR through 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — SkyQuest projects that the Internet of Things (IoT) Market will attain a value of USD 1572.37 billion by 2031, with a CAGR of 19.4% over the forecast period (2024-2031). Internet of Things (IoT) refers to the network of connected devices over the internet that are embedded with sensors and software. Growing adoption of automation around the world and advancements in connected device technologies are forecasted to be key factors driving the Internet of Things (IoT) market growth in the future.

Download a detailed overview:
https://www.skyquestt.com/report/internet-of-things-market
Browse in-depth TOC on “Internet of Things (IoT) Market”
Pages – 197Tables – 69Figures – 75Internet of Things (IoT) Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 380.6 billion
Estimated Value by 2031
$1572.37 billion
Growth Rate
Poised to grow at a CAGR of 19.4%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component Type, Application, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Rising demand for connected healthcare and growing use of industrial automation solutions
Key Market Drivers
Advancements in connectivity and connected device technologies
 
 
Hardware is Estimated to Dominate the Global Market Share Owing to High Use of Hardware Components in IoT
Hardware components such as sensors and actuators are highly vital to the proper functioning of any kind of Internet of Things (IoT) device. Growing adoption of IoT devices in different industry verticals for various applications is promoting market growth via this segment. The development of new hardware solutions also helps this segment maintain its dominance.
Smart Agriculture is the Fastest-growing Segment Owing to Rising Adoption of Precision Agriculture Practice
Rising emphasis on improving agricultural yield and sustainability has resulted in the growing adoption of smart agriculture and precision agriculture practices. IoT devices play a crucial role in monitoring and controlling different elements of a smart agriculture setup that is mostly automated using different smart devices thereby contributing to the IoT market growth as well.
Growing Adoption of 5G Technology Allowing North America to Dominate the Global Internet of Things (IoT) Market
Rapid adoption of 5G technology and high use of cloud-based platforms are key factors allowing North America to lead the demand for Internet of Things (IoT) around the world. Surging investments in the research and development of advanced technologies and the presence of key tech giants such as Amazon, Google, IBM, and Microsoft also helps the dominance of this region. Canada and the United States remain the most lucrative markets for Internet of Things (IoT) companies in North America through 2031.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-market
Internet of Things (IoT) Market Insights:
Drivers
Advancements in connectivity and connected device technologies.Growing demand for Industrial IoT (IIoT) solutions.Increasing number of smart cities and development of smart infrastructure.Restraints
Lack of standardization of IoT devices and technologies.Privacy and data security issues.Interoperability challenges and complex integration scenarios.Prominent Players in Internet of Things (IoT) Market
MicrosoftCisco SystemsIntelSiemens (Germany)AWS (US)Oracle (US)Qualcomm (UK)SAP (Germany)IBM (US)Google (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-market
Key Questions Answered in Internet of Things (IoT) Market Report
What are the top drivers for Internet of Things (IoT) market going forward?Who are the leading Internet of Things (IoT) market players?Where will demand for Internet of Things (IoT) be high?Which component accounts for a dominant revenue share of the global Internet of Things (IoT) market?This report provides the following insights:
Analysis of key drivers (advancements in connectivity and connected device technologies, growing demand for industrial IoT (IIoT), development of smart infrastructure for smart cities, growing use of smart devices ), restraints (lack of standardization, complexities in integration, concerns regarding security and privacy of data), and opportunities (rising popularity of connected healthcare, increasing adoption of Industry 4.0, rising use of industrial automation), influencing the growth of Internet of Things (IoT) market.Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Internet of Things (IoT) market.Market Development: Detailed analysis of potential regions where the market has potential to grow.Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.Related Reports:
Global Internet of Things in Retail Market
Global Internet of Things (IoT) in Agriculture Market
Global Internet of Things (IoT) Microcontroller Market
Global IOT In Healthcare Market
Global IOT in Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:
Mr. Jagraj Singh Skyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

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Sapiens Unveils Enhanced Reinsurance and Analytics Solution Catering to Evolving Market Demands

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Latest version enhances operational efficiency, regulatory reporting, and strategic decision-making with robust business insights
ROCHELLE PARK, N.J., April 25, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the launch of its latest version of Sapiens ReinsuranceMaster.

The new release of Version 9 brings a multitude of enhancements and technology stack updates, designed to empower insurers and reinsurers with robust, enriched functionality to support business requirements. This includes automating global inter-company retrocession, facilitating U.S. NAIC statutory reporting (Schedule F), and real-time reinsurance allocation support (‘reinsurance as a service’).
The latest release offers a multitude of enhancements, with one of the standout features being the seamless integration of Sapiens Intelligence with Sapiens ReinsuranceMaster. This integration empowers users with advanced data capabilities and actionable insights through out-of-the-box reinsurance reports and analytics of the reinsurance portfolio’s performance.
In addition, the new release brings significant improvements to the user experience, with a revamped user interface, enhancements in processing performance through improvements and parallel processing mechanisms, improved scalability and operability. 
“With the growing significance of reinsurance in today’s volatile environment, our latest version of Sapiens ReinsuranceMaster with Sapiens Intelligence offers even greater value to insurers and reinsurers, catering to the ever-changing demands of this dynamic market,” said Roni Al-Dor, Sapiens President & CEO. “Leveraging the shared experience from our other products as well as requirements from our global client base, the solution is now very well-positioned to support global automation of complex reinsurance programs and provide management with insights into reinsurance performance as well as statutory reporting.”  
Sapiens ReinsuranceMaster is a comprehensive, single platform for large and multi-national reinsurance programs, providing full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts, providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial leakage.
Sapiens Intelligence, now a fully integrated component of Sapiens ReinsuranceMaster v.9, produces actionable insights to maximize the value of data and KPIs for smarter decision making, improving reinsurance business management.
About Sapiens  
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data, and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn  
Investor and Media Contact : Yaffa Cohen-Ifrah Sapiens Chief Marketing Officer and Head of Investor Relations Email: [email protected] 
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to:  the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic,  and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
 
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