Mace Head Atmospheric Research Station

Synlogic Achieves Research Milestone and Earns $2.5 Million Milestone Payment from Roche Collaboration

Retrieved on: 
Tuesday, November 7, 2023

CAMBRIDGE, Mass., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Synlogic, Inc. (Nasdaq: SYBX), a clinical-stage biotechnology company advancing novel, oral, non-systemically absorbed biotherapeutics to transform the care of serious diseases, announced today that it has achieved its third pre-specified research milestone and earned a third milestone payment of $2.5 million due under its collaboration agreement with Roche for the research and pre-clinical development of a Synthetic Biotic for the treatment of inflammatory bowel disease (IBD).

Key Points: 
  • CAMBRIDGE, Mass., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Synlogic, Inc. (Nasdaq: SYBX), a clinical-stage biotechnology company advancing novel, oral, non-systemically absorbed biotherapeutics to transform the care of serious diseases, announced today that it has achieved its third pre-specified research milestone and earned a third milestone payment of $2.5 million due under its collaboration agreement with Roche for the research and pre-clinical development of a Synthetic Biotic for the treatment of inflammatory bowel disease (IBD).
  • “The field of IBD presents a clear need for therapeutic innovation, and there is a compelling fit with the disease biology and the locally acting, gut-restricted approach of Synthetic Biotics,” said Mylene Perreault, Ph.D., Vice President and Head of Research at Synlogic.
  • “We are proud of the joint research team’s progress and accomplishments achieved through this collaboration, and our contribution towards a new potential biotherapeutic for IBD.”
    Pursuant to the terms of the research collaboration agreement, Synlogic and Roche collaborated to develop a Synthetic Biotic to address an undisclosed novel target in IBD.
  • Roche has the exclusive option to enter a licensing and collaboration agreement for further development and commercialization of the product candidate.

Sangamo Therapeutics Announces Strategic Update and Reports Third Quarter 2023 Financial Results

Retrieved on: 
Wednesday, November 1, 2023

Sangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic medicines company, today announced recent business highlights, including progress on its strategic transformation and a corresponding restructuring of operations and workforce reduction, and reported third quarter 2023 financial results.

Key Points: 
  • Sangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic medicines company, today announced recent business highlights, including progress on its strategic transformation and a corresponding restructuring of operations and workforce reduction, and reported third quarter 2023 financial results.
  • As a result of this restructuring, Sangamo is reducing its US workforce by approximately 40%, or approximately 162 roles.
  • Sangamo expects to incur approximately $8 million-$10 million in one-time restructuring costs in the fourth quarter of 2023.
  • Revenues for the third quarter ended September 30, 2023 were $9.4 million, compared to $26.5 million for the same period in 2022.

Sound Bioventures appoints Fredrik Lehmann as its first Entrepreneur-in-Residence

Retrieved on: 
Friday, October 13, 2023

Johan Kördel, Ph.D., Managing Partner of Sound Bioventures, said: “We are very pleased to welcome Fredrik to the team.

Key Points: 
  • Johan Kördel, Ph.D., Managing Partner of Sound Bioventures, said: “We are very pleased to welcome Fredrik to the team.
  • Fredrik brings a wealth of experience including as an entrepreneur and venture partner, and we look forward to him playing an active part in growing and developing our investment portfolio.”
    Before joining Sound Bioventures, Fredrik was a venture partner at Swedish venture capital fund Industrifonden.
  • Fredrik gained his Ph.D. from Göteborg University and an executive MBA from Stockholm School of Economics.
  • Fredrik Lehmann, Ph.D., MBA, Entrepreneur-in-Residence, added: “I have been impressed by the commitment of the Sound Bioventures team to back innovative companies where they can really make a difference.

Scholar Rock to Advance Antimyostatin Program to Develop Novel Therapies for Cardiometabolic Disorders

Retrieved on: 
Wednesday, October 11, 2023

Data from the clinical trial are expected in mid-2025 and will be used to inform further clinical development of SRK-439.

Key Points: 
  • Data from the clinical trial are expected in mid-2025 and will be used to inform further clinical development of SRK-439.
  • “As a long-standing leader in targeting myostatin with a highly selective antibody platform, we are excited to advance our cardiometabolic program.
  • Leveraging proven expertise in antimyostatin and its effect on increasing muscle mass, the Company has been developing myostatin-selective inhibitors to address cardiometabolic disorders, including obesity.
  • The Company believes the selectivity of these antibody candidates enables a favorable risk-benefit profile for patients with cardiometabolic disorders.

Bankruptcy Filings up to the 3rd quarter of 2023 exceed total filings for 2021 and 2022

Retrieved on: 
Thursday, October 5, 2023

BOSTON, Oct. 5, 2023 /PRNewswire-PRWeb/ -- According to Data compiled by New Generation Research's BankruptcyData, Bankruptcy Filings as of the end of the Quarter ended September 31, 2023, totaled 7518 year to date. This is the highest rate of bankruptcy since 2020, up sharply from last year. The total number of filings YTD in 2023 exceeds all filings for both 2021 and 2022, and is on a pace which rivals the activity of 2020, itself was a record year unequaled since the days of the Global Financial Crisis.

Key Points: 
  • BOSTON, Oct. 5, 2023 /PRNewswire-PRWeb/ -- According to Data compiled by New Generation Research's BankruptcyData , Bankruptcy Filings as of the end of the Quarter ended September 31, 2023, totaled 7518 year to date.
  • So far in 2023, there have been such filings versus 383 for all of 2022, an increase of over 70%, and there are still three months to go in 2023.
  • Also, the number of companies doing a round trip to Bankruptcy court among public and large private companies has risen markedly in 2023.
  • The pace of filings has been trending upwards during the course of the year as the graph below indicates.

Flagship Pioneering Appoints John Lepore as CEO-Partner and CEO of ProFound Therapeutics

Retrieved on: 
Monday, October 2, 2023

CAMBRIDGE, Mass., Oct. 2, 2023 /PRNewswire/ -- Flagship Pioneering, the bioplatform innovation company, and ProFound™ Therapeutics, a company pioneering the discovery of a vastly expanded human proteome and using its newfound insights to unlock a universe of potential new medicines, today announced that John Lepore, M.D., will join Flagship Pioneering as CEO-Partner, and ProFound as Chief Executive Officer, effective October 16, 2023.

Key Points: 
  • CAMBRIDGE, Mass., Oct. 2, 2023 /PRNewswire/ -- Flagship Pioneering, the bioplatform innovation company, and ProFound™ Therapeutics, a company pioneering the discovery of a vastly expanded human proteome and using its newfound insights to unlock a universe of potential new medicines, today announced that John Lepore, M.D., will join Flagship Pioneering as CEO-Partner, and ProFound as Chief Executive Officer, effective October 16, 2023.
  • Dr. Lepore joins ProFound after 17 years at GSK where he had extensive experience leading large international R&D organizations across diverse therapeutic areas.
  • "We've made significant advances with our ProFoundry™ Platform, which is a wellspring of first-in-class therapeutic opportunities," said Avak Kahvejian, Ph.D., Flagship Pioneering General Partner and Founding CEO of ProFound Therapeutics.
  • "I'm honored to join the outstanding team at Flagship Pioneering and to have the opportunity to lead the talented team at ProFound who are redefining what we know about human biology with the ProFoundry Platform," said John Lepore, M.D., CEO of ProFound Therapeutics and Flagship Pioneering CEO-Partner.

NASA TASK FORCE RECOMMENDS CROWDSOURCING AS A SOLUTION FOR UNIDENTIFIED ANOMALOUS PHENOMENA (UAP) REPORTING - IN LINE WITH THE PRODUCT OFFERED BY ENIGMA LABS

Retrieved on: 
Thursday, September 14, 2023

NEW YORK, Sept. 14, 2023 /PRNewswire/ -- A NASA task force studying Unidentified Anomalous Phenomena (UAP) today released its final report, in which it recommended "crowdsourcing techniques," writing, "The panel also sees several advantages to…data collection efforts using modern crowdsourcing techniques, including open-source smartphone-based apps that simultaneously gather imaging data and other smartphone sensor data from multiple citizen observers. NASA should therefore explore the viability of developing or acquiring such a crowdsourcing system as part of a future data strategy." The report continues, "we recommend that NASA explore the viability of developing or acquiring a crowdsourcing system, such as open-source smartphone-based apps, to gather imaging data and other smartphone sensor data from multiple citizen observers as part of a wider effort to more systematically gather public UAP reports."

Key Points: 
  • NASA should therefore explore the viability of developing or acquiring such a crowdsourcing system as part of a future data strategy."
  • Enigma Labs - the first crowdsourced network that allows the public to submit sightings of Unidentified Anomalous Phenomena (UAP) for analysis - is in line with the data solution recommended by NASA's panel.
  • The company agrees with NASA that the country urgently needs more and higher-quality information about UAPs.
  • *Alejandro Rojas, head of research and content for Enigma Labs, is available for comment and interviews upon request.

EdgeConneX Enters the Malaysia Market with Plans for Several Data Centers in Three Markets Offering Nearly 300 MWs of Capacity

Retrieved on: 
Monday, September 11, 2023

HERNDON, Va., Sept. 11, 2023 /PRNewswire/ -- EdgeConneX®, the pioneer in global Hyperlocal to Hyperscale Data Center Solutions announces its entrance into the Malaysian market with plans to build highly proximate and high-power data centers that will deliver nearly 300 MWs of capacity combined. Located in critical locations across Malaysia, the new EdgeConneX data centers in Kuala Lumpur's Central Business District, Bukit Jalil, and Cyberjaya offer customers the ability to design highly customized configurations to meet any requirement. 

Key Points: 
  • EdgeConneX Managing Director for APAC, Kelvin Fong , notes, "The high demand for scalable, high-capacity infrastructure across the Asia Pacific region fuels EdgeConneX expansion into Malaysia.
  • We look forward to continued and shared success in the region and supporting our customer's capacity expansions into Malaysia."
  • Structure Research's Head of Research, Jabez Tan , noted, "The Malaysia market is attractive because of its proximity to the Singapore connectivity ecosystem.
  • With nearly 70 MWs IT Load capacity, this EdgeConneX site is a greenfield build in the MRANTI technology park, offering ample power to address hyperscale and large-scale cloud or AI deployments.

26North Announces Addition of Seven Partners, Launches Direct Lending Team

Retrieved on: 
Wednesday, September 6, 2023

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- Today, 26North Partners LP (26North), a next-generation alternatives platform founded by Josh Harris, announced that seven new partners with deep experience across every aspect of the asset management industry have joined the firm: Larry Berg, Jon Garcia, Andrew Rabinowitz, David Yu, Michael Mastropaolo, Jordan Walter and Jorge Beruff. As 26North marks its first year, the company reported an increase in total assets under management to $12.7 billion.

Key Points: 
  • The seven new partners will deepen 26North's private equity, operations, direct lending and insurance capabilities.
  • "I'm thrilled to welcome these exceptional business builders and leaders who share my values and vision for 26North.
  • Larry Berg joins 26North as a Partner in private equity, working closely with Mark Weinberg, 26North's Head of Private Equity.
  • Three additional partners join 26North to support the launch of its new Direct Lending business under the leadership of Brendan McGovern.

XtalPi and Parthenon Enter Into AI-Powered Antibody Discovery Partnership

Retrieved on: 
Tuesday, September 5, 2023

Under this agreement, XtalPi will grant Parthenon Therapeutics access to its proprietary XupremAb™ antibody discovery platform, which is a collection of solutions that leverage AI and wet lab techniques to deliver therapeutic antibody candidates with superior efficacy and developability profiles.

Key Points: 
  • Under this agreement, XtalPi will grant Parthenon Therapeutics access to its proprietary XupremAb™ antibody discovery platform, which is a collection of solutions that leverage AI and wet lab techniques to deliver therapeutic antibody candidates with superior efficacy and developability profiles.
  • Parthenon Therapeutics and XtalPi will utilize multiple approaches in the XupremAb™ platform for deeper interrogation of the immune repertoire and generating a large, consolidated dataset, which will be further mined by XtalPi's proprietary algorithms for exceptional candidates.
  • Their strong innovation in tumor barrier disruption and deep understanding of the target, coupled with our broadly validated AI-powered antibody discovery platform, forms a solid foundation for the development of next-generation cancer therapeutics," said Yi Li, VP of Antibody Discovery, XtalPi.
  • "We are very pleased to collaborate with XtalPi to leverage their cutting-edge proprietary platform to deeply mine the immune repertoire to discover novel state-of-the-art antibody therapeutics.