Artificial Intelligence
Vyant Bio Reports Second Quarter and First Half 2022 Results and Provides Strategic and Business Highlights
Conference Call and Webcast Today at 4:30 pm ET
Scientific and Business Highlights
- Based on preclinical efficacy data in our human Rett cortical organoid model, we are advancing VYNT0126 into clinical trials in Rett patients with encouragement and guidance from the International Rett Syndrome Foundation
- Continued progress with efforts towards the divestiture of the vivoPharm business
- Progress with licensing our iPSC technology to transition key product sales customers
Financial Highlights
- $11.7 million of cash and equivalents as of June 30, 2022
- Cash runway approximately 18 months
CHERRY HILL, N.J., Aug. 22, 2022 (GLOBE NEWSWIRE) — Vyant Bio, Inc. (“Vyant Bio” or “Company”) (Nasdaq: VYNT) is an innovative biotechnology company reinventing drug discovery for complex neurodevelopmental and neurodegenerative disorders. The Company’s proprietary central nervous system (“CNS”) drug discovery platform combines human-derived organoid models of brain disease, scaled biology, and machine learning to elucidate disease pathophysiology and identify and validate drug targets for rare CNS genetic disorders. Today, Vyant Bio filed its Form 10-Q for the Second Quarter 2022 with the Securities and Exchange Commission (“SEC”) and will discuss its Second Quarter 2022 highlights and business updates this afternoon in a conference call and webcast scheduled for 4:30 pm ET.
“We are highly focused on validating the power of our drug discovery platform in a planned human proof-of-concept clinical trial beginning in early 2023,” stated Jay Roberts, CEO of Vyant Bio. “We believe there are significant value creation drivers unique to Vyant Bio in the drug discovery sector. The traditional ‘target-based’ approach to discovering and developing treatments for neurological diseases is not ideal. Current approaches are expensive, inefficient, and almost always unsuccessful. What differentiates Vyant Bio is our ‘disease-first’ approach that brings a human understanding of disease biology into the lab, providing a greater level of certainty to neurological drug discovery”.
“Our proprietary CNS drug discovery platform has led to the identification of a promising FDA-approved repurposing candidate (“VYNT-0126”), and several small molecules against two novel targets showing the molecules robustly and reproducibly rescue the Rett Syndrome disease phenotype in our Rett patient-derived cortical organoid model. These molecules rescue the Rett disease phenotype by a differentiated mechanism of action compared to other advanced Rett clinical candidates,” stated Robert T. Fremeau, Jr., Ph.D., CSO of Vyant Bio.
Dr. Fremeau further noted, “With our preclinical data with VYNT-0126, which we believe is compelling, we met with the Clinical Trial Committee of the International Rett Syndrome Foundation (“IRSF”) on July 19, 2022, to receive their feedback and guidance on our plans to conduct a proof-of-concept clinical trial of VYNT-0126 in adult Rett patients in Australia. We are on track to submit our clinical trial application to the Ethics Committee in Australia in the third quarter of 2022 for a trial to begin in early 2023. In addition, we have initiated a collaboration with the IRSF to advance VYNT-0126 into a proof-of-concept clinical trial in pediatric Rett patients in the U.S. and anticipate filing an IND with the FDA for the pediatric study in 2023. We are excited to share our human preclinical efficacy data for VYNT-0126 in two talks at the Rett Symposium at the Annual Meeting of the Society for Neuroscience on November 16, 2022. Our ongoing work on CDKL5 and familial Parkinson’s disease has further established that our discovery platforms represent a robust model for human-first CNS drug discovery. Phenotypic and target-based screening of our patient-derived CDKL5 organoids has identified several novel small molecule hits and corresponding targets that rescue the hyperexcitability phenotype in our organoid model and represent promising starting points for the identification of disease-modifying therapeutics for CDKL5 disorder. Finally, our Parkinson’s Disease program has identified a disease-relevant biomarker in an hiPSC- derived familial model of PD that we are optimizing for conducting a high throughput drug screen.”
Second Quarter and First Half 2022 Financial Results
Cash and cash equivalents totaled $11.7 million as of June 30, 2022. The Company implemented two new vehicles in the first half of 2022 to facilitate the raising of additional equity capital at the Company’s option with the finalization of the Lincoln Park Equity line of credit, allowing access to raise up to $15 million, as well as signing a $14.5 million ATM with Canaccord Genuity. The Company’s current cash, expected future proceeds from the sale of vivoPharm, the equity line of credit, and ATM, are expected to fund operations for the next 18 months.
During the first half of 2022, the Company continued the process of divesting the vivoPharm business, which is expected to complete in 2022. Therefore, the vivoPharm business is classified as a “held-for-sale” asset, and its financial information as “discontinuing operations.”
The Company’s loss from continuing operations aggregated $4.3 million in the second quarter of 2022, compared with $4.0 million in the second quarter of 2021. The Company’s loss from continuing operations aggregated $8.7 million in the first half of 2022, compared with $11.3 million in the first half of 2021. Net loss from discontinuing operations was $1.5 million for the second quarter of 2022, compared with $232 thousand for the second quarter of 2021. Net loss from discontinuing operations was $6.2 million for the first half of 2022, compared with $240 thousand for the first half of 2021. During the three and six-month periods ended June 30, 2022, the Company recorded non-cash impairment charges of $1.5 million and $5.8 million, respectively, related to the vivoPharm business based on its estimated fair value.
Research and development expenses increased by 85%, or $778 thousand, to $1.7 million for the three months ended June 30, 2022 from $910 thousand for the three months ended June 30, 2021. Research and development expenses increased by 87%, or $1.5 million, to $3.2 million for the six months ended June 30, 2022 from $1.7 million for the six months ended June 30, 2021. This increase is principally due to a $853 thousand increase in payroll-related and consulting expenses, a $417 thousand increase in research and development activities at our Maple Grove facility, and $230 thousand related to moving into a new facility in California. During 2022 we are transitioning our Maple Grove operations to an internal research and development facility.
Selling, general and administrative expenses decreased by 8%, or $228 thousand, to $2.5 million for the three months ended June 30, 2022, as compared with $2.7 million for the three months ended June 30, 2021. Selling, general and administrative expenses increased by 33%, or $1.3 million, to $5.3 million for the six months ended June 30, 2022, as compared with $4.0 million for the six months ended June 30, 2021. The 2021 period reflects the Company as a privately-held company during the first quarter, whereas the 2022 period reflects the Company as a publicly-held company. The six months ended June 30, 2022 includes incremental $717 thousand of payroll-related expenses, including one-time severance benefits for two former employees of $437 thousand. The Company incurred $418 thousand of additional professional service expenses in 2022 compared to the same prior-year period.
In August 2022, in connection with efforts to sell its vivoPharm subsidiary, the Company determined that certain historical vivoPharm tax returns either had not been filed or were incorrectly filed with the U.S. Internal Revenue Service. As a result of this finding and as further detailed in the June 30, 2022 quarterly report on Form 10-Q filed with the SEC today, the Company delayed the timing of this quarterly report to ensure it had properly accounted for this matter.
Vyant Bio’s Conference Call and Webcast and Information
Vyant Bio’s management will host a conference call on Monday, August 22, 2022 at 4:30 pm ET to discuss the second quarter and first half 2022 results and provide strategic business updates, as well as answer questions. Event information is below:
| Event: | Vyant Bio Investor Conference Call and Webcast for the Second Quarter and First Half 2022 |
| Date: | Monday, August 22, 2022 |
| Time: | 4:30 pm ET |
| Dial In: | Toll Free: 1-877-545-0523 Conference ID: 46428 |
| Webcast: | https://www.webcaster4.com/Webcast/Page/2756/46428 |
The event will be recorded and available for replay. The conference call and webcast details are also included inside the Investors section of the Vyant Bio corporate website at www.vyantbio.com.
ABOUT VYANT BIO, INC.
Vyant Bio, Inc. (“Vyant Bio” or the “Company”) (Nasdaq: VYNT), is an innovative biotechnology company focused on identifying unique biological targets and novel and repurposed therapeutics. Vyant Bio has built a platform of therapeutics seeking to treat neurodevelopmental and neurodegenerative diseases, with current programs targeting Rett Syndrome (“Rett”), CDKL5 Deficiency Disorders (“CDD”), and Parkinson’s Disease. The Company’s approach to drug discovery integrates human- derived biology with artificial intelligence and machine learning technologies to de-risk candidate selection, with the goal of improving the potential effectiveness of drugs discovered earlier in the development cycle. Vyant Bio’s management believes that drug discovery needs to progressively shift to more efficient methods as the widely used models for predicting safe and effective drugs have under-performed, as evidenced by the significant time and cost of bringing novel drugs to patients. By combining sophisticated data science capabilities with highly functional human cell derived disease models, Vyant Bio seeks to leverage its current ability to screen and test therapeutic candidates, and create a unique approach to assimilating data that supports decision making iteratively throughout the discovery phase of drug development to identify both novel and repurposed CNS therapeutic candidates.
For more information, please visit or follow Vyant Bio at:
Internet: www.vyantbio.com
LinkedIn: https://www.linkedin.com/company/vyant-bio
Twitter: @VyantBio
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to Vyant Bio, Inc.’s expectations regarding future financial and/or operating results, the efficacy of our drug screening and discovery process, our ability to divest our vivoPharm subsidiary on satisfactory terms, if at all, and potential for our services, future revenue or growth in this press release constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to, statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” and “estimates”) should also be considered to be forward-looking statements. Forward- looking statements involve risks and uncertainties, including, without limitation, risks inherent in our attempts to discover drug candidates, partner with pharmaceutical and other biotechnology companies, sell vivoPharm, satisfactorily correct historical vivoPharm tax filings, achieve profitability, adapt to the global coronavirus pandemic, raise capital to meet our liquidity needs, and other risks discussed in the Vyant Bio, Inc. Form 10- K for the year ended December 31, 2021, and any subsequent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Vyant Bio disclaims any obligation to update these forward-looking statements.
Investor Contact:
Skyline Corporate Communications Group, LLC
Scott Powell, President
One Rockefeller Plaza, 10th Floor
New York, NY 10020 USA
Office: (646) 893-5835 x2
Email: info@skylineccg.com
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Vyant Bio, Inc.
Consolidated Balance Sheets
(unaudited)
(Shares and USD in thousands)
| June 30, | December 31, | |||||||
| 2022 | 2021 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 11,702 | $ | 20,608 | ||||
| Trade accounts and other receivables | 484 | 434 | ||||||
| Inventory | 437 | 475 | ||||||
| Prepaid expenses and other current assets | 1,524 | 895 | ||||||
| Assets of discontinuing operations – current | 2,101 | 802 | ||||||
| Total current assets | 16,248 | 23,214 | ||||||
| Non-current assets: | ||||||||
| Fixed assets, net | 1,101 | 1,020 | ||||||
| Operating lease right-of-use assets, net | 1,691 | 673 | ||||||
| Long-term prepaid expenses and other assets | 1,154 | 1,221 | ||||||
| Assets of discontinuing operations – non-current | 6,617 | 11,508 | ||||||
| Total non-current assets | 10,563 | 14,422 | ||||||
| Total assets | $ | 26,811 | $ | 37,636 | ||||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 1,040 | $ | 740 | ||||
| Accrued expenses | 1,334 | 764 | ||||||
| Deferred revenue | 72 | 74 | ||||||
| Obligations under operating leases, current portion | 293 | 174 | ||||||
| Obligation under finance lease, current portion | 161 | 157 | ||||||
| Liabilities of discontinuing operations – current | 4,607 | 3,522 | ||||||
| Total current liabilities | 7,507 | 5,431 | ||||||
| Obligations under operating leases, less current portion | 1,463 | 516 | ||||||
| Obligations under finance leases, less current portion | 217 | 293 | ||||||
| Long-term debt | 57 | 57 | ||||||
| Liabilities of discontinuing operations – non-current | 780 | 49 | ||||||
| Total liabilities | $ | 10,024 | $ | 6,346 | ||||
| Commitments and contingencies | – | |||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, authorized 9,764 shares $0.0001 par value, none issued | – | – | ||||||
| Common stock, authorized 100,000 shares, $0.0001 par value, 29,413 and 28,993 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively | 3 | 3 | ||||||
| Additional paid-in capital | 110,627 | 110,174 | ||||||
| Accumulated deficit | (93,781 | ) | (78,813 | ) | ||||
| Accumulated comprehensive loss | (62 | ) | (74 | ) | ||||
| Total Stockholders’ equity | 16,787 | 31,290 | ||||||
| Total liabilities and Stockholders’ equity | $ | 26,811 | $ | 37,636 | ||||
Vyant Bio, Inc.
Consolidated Statements of Operations and Comprehensive Loss
(unaudited)
(Shares and USD in thousands, except per share amounts)
| Three months ended June 30, | Six months ended June, 30 | |||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Revenue: | ||||||||||||||||
| Service | $ | – | $ | 213 | $ | 94 | $ | 310 | ||||||||
| Product | 165 | 116 | 374 | 222 | ||||||||||||
| Total revenue | 165 | 329 | 468 | 532 | ||||||||||||
| Operating costs and expenses: | ||||||||||||||||
| Cost of goods sold – service | – | 103 | 38 | 167 | ||||||||||||
| Cost of goods sold – product | 304 | 345 | 652 | 741 | ||||||||||||
| Research and development | 1,688 | 910 | 3,239 | 1,730 | ||||||||||||
| Selling, general and administrative | 2,509 | 2,737 | 5,272 | 3,951 | ||||||||||||
| Merger related costs | – | 165 | – | 2,310 | ||||||||||||
| Total operating costs and expenses | 4,501 | 4,260 | 9,201 | 8,899 | ||||||||||||
| Loss from operations | (4,336 | ) | (3,931 | ) | (8,733 | ) | (8,367 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Change in fair value of warrant liability | – | – | – | 214 | ||||||||||||
| Change in fair value of share-settlement obligation derivative | – | – | – | (250 | ) | |||||||||||
| Loss on debt conversions | – | (2,518 | ) | |||||||||||||
| Other income (expense), net | – | (28 | ) | – | (28 | ) | ||||||||||
| Interest income (expense), net | 11 | 5 | 2 | (363 | ) | |||||||||||
| Total other income (expense) | 11 | (23 | ) | 2 | (2,945 | ) | ||||||||||
| Loss from continuing operations before income taxes | (4,325 | ) | (3,954 | ) | (8,731 | ) | (11,312 | ) | ||||||||
| Income tax expense (benefit) | – | – | – | – | ||||||||||||
| Loss from continuing operations | (4,325 | ) | (3,954 | ) | (8,731 | ) | (11,312 | ) | ||||||||
| Discontinuing operations (net of $44 tax benefit in 2022 and $0 in 2021) | (1,480 | ) | (232 | ) | (6,237 | ) | (240 | ) | ||||||||
| Net loss | (5,805 | ) | (4,186 | ) | (14,968 | ) | (11,552 | ) | ||||||||
| Cumulative translation adjustment | 8 | – | 12 | – | ||||||||||||
| Comprehensive loss | $ | (5,797 | ) | $ | (4,186 | ) | $ | (14,956 | ) | $ | (11,552 | ) | ||||
| Net loss per share attributed to common stock – basic and diluted: | ||||||||||||||||
| Net loss per share from continuing operations | $ | (0.15 | ) | $ | (0.13 | ) | $ | (0.30 | ) | $ | (0.70 | ) | ||||
| Net loss per share from discontinuing operations | (0.05 | ) | (0.01 | ) | (0.21 | ) | (0.02 | ) | ||||||||
| Net loss per share | $ | (0.20 | ) | $ | (0.14 | ) | $ | (0.51 | ) | $ | (0.72 | ) | ||||
| Weighted average shares outstanding: | ||||||||||||||||
| Weighted average common shares outstanding – Basic and Diluted | 29,413 | 28,986 | 29,214 | 16,156 | ||||||||||||
Vyant Bio, Inc.
Condensed Consolidated Statements of Cash Flows (unaudited)
(USD in Thousands)
| Six months ended June 30, | ||||||||
| 2022 | 2021 | |||||||
| Cash Flows from Operating Activities: | ||||||||
| Net loss | $ | (14,968 | ) | $ | (11,552 | ) | ||
| Net loss from discontinuing operations | 6,237 | 240 | ||||||
| Reconciliation of net loss to net cash used in operating activities, continuing operations: | ||||||||
| Stock-based compensation | 560 | 698 | ||||||
| Amortization of operating lease right-of-use assets | 171 | 79 | ||||||
| Depreciation and amortization expense | 276 | 244 | ||||||
| Change in fair value of share-settlement obligation derivative | – | 250 | ||||||
| Change in fair value of warrant liability | – | (214 | ) | |||||
| Change in fair value of 2020 Convertible Note with fair value election | – | 4 | ||||||
| Accretion of debt discount | – | 173 | ||||||
| Loss on conversion of debt | – | 2,518 | ||||||
| Loss of equipment | – | 6 | ||||||
| Changes in operating assets and liabilities net of impacts of business combination: | ||||||||
| Trade accounts and other receivables | (50 | ) | 34 | |||||
| Inventory | 38 | 8 | ||||||
| Prepaid expenses and other current assets | (562 | ) | (1,016 | ) | ||||
| Accounts payable | 300 | (1,206 | ) | |||||
| Obligations under operating leases | (122 | ) | (103 | ) | ||||
| Accrued expenses and other current liabilities | 570 | (808 | ) | |||||
| Net cash used in operating activities, continuing operations | (7,550 | ) | (10,645 | ) | ||||
| Net cash used in operating activities, discontinuing operations | (585 | ) | (25 | ) | ||||
| Net cash used in operating activities | (8,135 | ) | (10,670 | ) | ||||
| Cash Flows from Investing Activities: | ||||||||
| Equipment purchases and leasehold improvements | (361 | ) | (507 | ) | ||||
| Cash acquired from acquisition | – | 30,163 | ||||||
| Net cash (used in) provided by investing activities, continuing operations | (361 | ) | 29,656 | |||||
| Net cash used in investing activities, discontinuing operations | (72 | ) | (13 | ) | ||||
| Net cash (used in) provided by investing activities | (433 | ) | 29,643 | |||||
| Cash Flows from Financing Activities: | ||||||||
| Issuance of common stock, net of issuance costs | (246 | ) | 4 | |||||
| Issuance of Series C Preferred Stock, net of issuance costs | – | 1,786 | ||||||
| 2020 Convertible Note proceeds | – | 5,022 | ||||||
| Principal payments on long-term debt | – | (82 | ) | |||||
| Principal payments on obligations under finance leases | (72 | ) | – | |||||
| Net cash (used in) provided by financing activities, continuing operations | (318 | ) | 6,730 | |||||
| Net cash used in financing activities, discontinuing operations | (20 | ) | (10 | ) | ||||
| Net cash (used in) provided by financing activities | (338 | ) | 6,720 | |||||
| Net (decrease) increase in cash and cash equivalents | (8,906 | ) | 25,693 | |||||
| Cash and cash equivalents beginning of the period | 20,608 | 792 | ||||||
| Cash and cash equivalents end of the period | $ | 11,702 | $ | 26,485 | ||||
| Supplemental disclosure of cash flow information from continuing operations: | ||||||||
| Cash paid for interest | $ | 14 | $ | – | ||||
| Cash paid for income taxes | 8 | – | ||||||
| Non-cash investing activities from continuing operations: | ||||||||
| Fair value of non-cash merger consideration | $ | – | $ | 59,920 | ||||
| Right-of-use asset obtained in exchange for new lease | 1,189 | 83 | ||||||
| Equipment purchases in accounts payable | – | 37 | ||||||
| Non-cash financing activities from continuing operations: | ||||||||
| Conversion of Preferred Stock to Common Stock upon Merger | $ | – | $ | 30,793 | ||||
| Conversion of 2020 Convertible Notes and Accrued Interest to Common Stock upon Merger | – | 16,190 | ||||||
| Reclass warrant liability to equity upon Merger | – | 421 | ||||||
Artificial Intelligence
More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024
Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.
The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
“Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases.
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/more-than-9-million-awarded-to-high-school-scientists-and-engineers-at-the-regeneron-international-science-and-engineering-fair-2024-302149316.html
Artificial Intelligence
J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit
In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.
In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation.
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.”
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.
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Artificial Intelligence
Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024
SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.
Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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