Dover | May 11, 2022
Dover (NYSE: DOV) announced today that it has entered into a definitive agreement to acquire Malema Engineering Corporation ("Malema"), a designer and manufacturer of high-precision, mission-critical flow-measurement and control instruments serving customers in the biopharmaceutical, semiconductor, and industrial sectors. Malema will become part of the PSG business unit within Dover's Pumps & Process Solutions segment.
Malema's products will expand Dover's biopharma single-use production offering, which already includes Quattroflow pumps, CPC connectors, and em-tec flowmeters. Based in Boca Raton, FL, and with facilities in San Jose, CA, Singapore, South Korea, and India, Malema expects to generate approximately $40-45 million in revenue during the full year 2022 and has a robust growth outlook.
Over the past four decades, Malema has cultivated a loyal base of blue-chip customers, OEMs, and end-users with substantial aftermarket and recurring revenue streams. Malema's first-of-its-kind single-use flow sensor using Coriolis technology offers superior flow-measurement performance and accuracy versus alternative technologies, reducing the potential for measurement error and eliminating the need for calibration in time-sensitive and contamination-intolerant environments.
We see a tremendous long-term growth opportunity in the bioprocessing industry driven by a strong and growing pipeline of effective novel biologic drugs, biosimilars, protein therapies, non-COVID mRNA vaccines, as well as budding cell & gene therapies. Additionally, the growing adoption of more efficient single-use production processes supports a robust outlook for our offerings of single-use components to end-customers. We believe that pairing Malema's technology with our existing portfolio of single-use pumps for biopharma processing will greatly enhance the accuracy and value proposition of our solutions to our customers.
PSG's President, Karl Buscher.
We are methodically building out our biopharma platform through proactive capacity additions, new product development, and opportunistic acquisitions of highly-attractive niche component technologies, Malema represents a strategic and highly-complementary flow-control and sensing technology and further strengthens our sensor portfolio with new proprietary technology. In addition to attractive biopharma applications, we expect strong growth in the semiconductor space on the capacity expansion and re-shoring tailwinds."
Richard J. Tobin, President and Chief Executive Officer of Dover.
The purchase price is comprised of $225 million in cash at closing, subject to customary purchase price adjustments, and up to $50 million in contingent consideration dependent on the achievement of certain financial objectives over a two-year period. The transaction is expected to close in the second quarter and is subject to the satisfaction of customary closing conditions, including applicable regulatory approvals.
Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of over 25,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV."
PSG is a global pump solution expert and leading manufacturer of pumps, systems, and related flow-control technology for the safe and efficient transfer of critical and valuable fluids and materials. Headquartered in Oakbrook Terrace, IL, PSG is comprised of several world-class brands, including Abaque®, All-Flo®, Almatec®, Blackmer®, Ebsray®, em-tec®, Griswold®, Hydro Systems™, Mouvex®, Neptune™, Quantex™, Quattroflow®, and Wilden®. PSG products are manufactured in three continents – North America, Europe, and Asia – in state-of-the-art facilities that practice lean manufacturing and are ISO-certified. PSG is part of the Pumps & Process Solutions segment of Dover Corporation.
Amberstone Biosciences, Inc. | January 04, 2022
Amberstone Biosciences an emerging biotherapeutics company with unique expertise in conditionally active immunotherapeutics, today announced the completion of a $12 million Series A financing round. The funding was led by Viva BioInnovator, Co-win Ventures and Sinovation Ventures, with additional support from ChangRong Capital, Lifespan Investments and existing shareholders.
Amberstone will use the proceeds from the financing to advance its highly differentiated tumor microenvironment activated therapeutic programs including bispecific antibodies and immunocytokines to the investigational new drug application (IND) enabling stage.
“We are tremendously grateful for the strong support from our new and existing investors. With our unique Tumor Microenvironment Activated Therapeutics programs, we aim to develop safer and more effective therapies to benefit cancer patients. The funding and broad expertise and resources in the field provided by our investors will take us another step closer to our mission.”
Amberstone Biosciences President and CEO, George Wu, PhD
“Amberstone’s T-MATE therapeutic molecules enabled by its innovative single-cell discovery engine represents a real breakthrough in immune-oncology. We are thoroughly impressed by Amberstone team's rich experience in the cancer biology space. Viva is excited to work with Amberstone and syndicate partners to support its mission to provide next-generation innovative treatment options to patients,” said Han Dai, PhD, Chief Innovation Officer of Viva Biotech and Head of Viva BioInnovator.
“T cell immunotherapy has encountered great challenges in the complex microenvironment of solid tumors. The T-MATE molecules discovered through Amberstone’s world-leading cross-disciplinary drug discovery engine will break through the bottleneck of traditional methods and bring new hope to the treatment of solid tumors. Co-win Ventures is thrilled to work with Amberstone’s team and co-investors to explore the next generation of immunotherapies in solid tumors,” said Xin Huang, MD/PhD, a managing partner of Co-win Ventures.
“The expertise and strengths of Amberstone core team synergize well with one another. We are optimistic with the company’s uncapped growth potential. Amberstone exemplifies our firm’s investment strategy and mission to support deep-tech innovative entrepreneurs and companies,” said Sinovation Ventures’ partner in healthcare, Mr. Peter Wu.
About Amberstone Biosciences, Inc.
Incorporated in 2018, Amberstone Biosciences is an emerging biotherapeutics company developing a novel class of targeted and conditionally active immunotherapeutics to treat solid tumor cancers and other diseases. Amberstone Biosciences’ pipeline is driven by an innovative high-throughput single-cell functional discovery platform and strong expertise in an interdisciplinary field of biology, engineering, and therapeutic development.
About Viva BioInnovator
As the venture arm of Viva Biotech Holdings, Viva BioInnovator is dedicated to investing globally in biotech innovations that address unmet medical needs across multiple therapeutic areas. Leveraging Viva Biotech’s rich experience and technical advantages in novel drug R&D, Viva BioInnovator has built a strong track record in providing both cash and in-kind services its portfolio companies worldwide.
About Co-win Ventures
Founded in 2009, Co-win Ventures focuses on early-stage companies in healthcare and TMT sectors and advocates a team culture of equality, transparency, sharing and innovation. It has operated 17 independent US dollar and/or RMB funds and has invested in over 140 companies, including Taimei Medical Technology, Genecast, Huake Precision, Cytek, InnoLight Technology, Memsensing, Eastsoft, New Vision, Aolian Electronics, and Sanchao Advanced Material among others.
About Sinovation Ventures
Founded by Dr. Kai-Fu Lee in 2009, Sinovation Ventures is committed to nurturing the next wave of deep-tech entrepreneurs and companies. Sinovation is headquartered in Beijing and operates in multiple major cities. With over US$2.7 billion under management, Sinovation is a leading tech VC firm with a unique “TECH VC” model that is uniquely enhanced by its Artificial Intelligence Institute led by Dr. Lee. Sinovation invests in artificial intelligence, healthcare tech, robotics/automation, semiconductor, enterprise software, and digital lifestyle areas. To date, Sinovation has invested in over 400 companies.
Cellarity | February 11, 2022
Cellarity, a life sciences company founded by Flagship Pioneering to encode and simulate human biology to reimagine the way we create medicines, announced today the expansion of its executive leadership team with three key appointments. As Chief Scientific Officer, Laurens Kruidenier, Ph.D., will lead the continued evolution of Cellarity’s platform and pipeline and oversee cross functional integration across all aspects of computation, drug creation, and optimization. As Chief People Officer, Anna O’Driscoll will lead the development of human resources and talent development strategies to enable the fast growth of Cellarity and make the company a top place to work for talent. As Senior Vice President and Head of Data and Software Engineering, Parul Doshi will spearhead the development of a leading and scalable data infrastructure to support the entire drug creation and development process.
“We are building a transformative company and bringing together a strong team of people with a track record of making things happen. Laurens is not only an exceptional translational scientist, with experience and success advancing primary research into clinical-stage programs, he is also a team and company builder, helping integrate and mature drug discovery platforms.”
Fabrice Chouraqui, Ph.D., CEO of Cellarity and a CEO-Partner at Flagship Pioneering
Dr. Chouraqui continued, “Anna brings deep experience in talent and leadership development in the biotech industry, and she is known for her passion to positively impact the employee experience. Parul not only brings broad expertise in data infrastructure across the entire pharma value chain, from preclinical and clinical to tech operations and commercialization but also hands-on expertise in software engineering. I am excited that these top leaders have joined us at this pivotal time as Cellarity grows our team, advances key programs, and scales a pipeline of important new therapeutics.”
Cellarity has developed unique capabilities to encode biology and model computationally the changes that occur between health and disease to design breakthrough medicines. Cellarity's transformative approach to drug creation looks beyond an individual molecular target to understand the complex biological network of cellular changes that underlie the start and progression of a disease. Built at the confluence of systems biology, single cell data, and machine learning, the Cellarity platform leverages a more complete view of cell biology to purposefully create drugs. Since all diseases stem from a disorder at the cellular level, Cellarity’s approach can be applied to virtually every disease and uncovers new biology and treatments that are unlikely to be found through target-based discovery.
“Despite the tremendous progress the industry has made in advancing medical treatments, most diseases do not have curative therapies, and there are thousands of conditions that lack treatments,” said Dr. Kruidenier. “I’m impressed with Cellarity’s drug creation engine, which looks beyond the single target and embraces the full complexity of human disease. I look forward to working with the team to realize the truly transformative nature of the Cellarity platform and advance into the clinic novel medicines in diverse therapeutic areas to meet a wide range of patient needs.”
Laurens Kruidenier, Ph.D., Chief Scientific Officer
Dr. Kruidenier has more than 25 years of experience in discovery research, both in academic settings as well as in the life sciences industry and a track-record of success in drug discovery and development, driving research programs into clinical study and integrating teams and technologies for growth and scale. Prior to joining Cellarity, Dr. Kruidenier was Chief Scientific Officer (CSO) at Prometheus Biosciences, a precision medicine company in the immune-mediated disease space. At Prometheus, he helped mature the company from an early, seed-stage Cedars-Sinai-spinout into a Nasdaq-listed, platform-driven portfolio company with three active Phase 2 clinical trials. Previously, he held the roles of Vice President of Discovery at Second Genome, where he was responsible for a portfolio of microbiome programs and Head of GI Immunology Research at Takeda Pharmaceuticals, where he was responsible for developing the global discovery research and business development strategy into inflammatory diseases of the bowel. Earlier in his career, Dr. Kruidenier held various positions at different discovery units at GlaxoSmithKline, where he led preclinical teams and projects in immuno-inflammation, epigenetic, and protein degradation drug discovery. He completed his post-doctoral training at the University of London and holds an M.Sc. in medical biology from Utrecht University and a Ph.D. in mucosal immunology from Leiden University. His research has resulted in multiple publications in top tier scientific journals, including Nature.
Anna O’Driscoll, Chief People Officer
Ms. O’Driscoll has more than a decade of experience in human resources and was most recently Vice President of Human Resources at Alnylam Pharmaceuticals, where she worked in roles spanning R&D, Commercial, Corporate Functions, Learning and Development, and Employee Relations as Alnylam evolved from a research organization to a leading biotech company. Prior to Alnylam, she was Head of Talent Strategy and Process at Shire and in the Human Resources Leadership Development Program at Johnson & Johnson. Ms. O’Driscoll graduated with an MBA from the Institute of Chartered Financial Analysts and a bachelor’s degree in marketing and languages from Dublin City University.
Parul Doshi, Senior Vice President, Head of Data and Software Engineering
Ms. Doshi has more than twenty years of experience in information technology (IT) and software engineering and was most recently Head of IT & Digital for Takeda’s Vaccine division. She spent the past 16 years at Takeda, in roles of increasing seniority across several divisions of the company. She notably led the IT programs to launch oncology products NINLARO® and ALUNBRIG® as well as the consolidation of the Vaccines Business Unit to Cambridge, Massachusetts and integration of ARIAD Pharmaceuticals post acquisition. Prior to Takeda, Ms. Doshi worked as a developer at Patni Computer Systems, servicing major companies such as Fidelity Investments and LEGO®. Ms. Doshi graduated with an MBA in information technology and finance from Savitribai Phule Pune University, and a bachelor’s in economics and applied statistics from the University of Rajasthan.
Cellarity's mission is to fundamentally transform the way medicines are created through the development of the first full stack digital cell. Founded by Flagship Pioneering in 2017, Cellarity has developed unique capabilities combining high-resolution data, single cell technologies, and machine learning to encode biology, model interventions, and purposefully design breakthrough medicines. By focusing on the cellular changes that underlie disease instead of a single target, Cellarity’s approach uncovers new biology and treatments and is applicable to a vast array of disease areas. The company currently has programs underway in metabolic disease, hematology, immuno-oncology, and respiratory disease. The company has raised $123 million as part of a Series B funding round with contributions from funds and accounts managed by Blackrock, The Baupost Group, Banque Pictet on behalf of their clients, and eight other investors alongside Flagship Pioneering.
About Flagship Pioneering
Flagship Pioneering conceives, creates, resources, and develops first-in-category bioplatform companies to transform human health and sustainability. Since its launch in 2000, the firm has, through its Flagship Labs unit, applied its unique hypothesis-driven innovation process to originate and foster more than 100 scientific ventures, resulting in more than $140 billion in aggregate value. To date, Flagship has deployed over $2.6 billion in capital toward the founding and growth of its pioneering companies alongside more than $19 billion of follow-on investments from other institutions. The current Flagship ecosystem comprises 42 transformative companies, including Axcella Health (Nasdaq: AXLA), Codiak BioSciences (Nasdaq: CDAK) Denali Therapeutics (Nasdaq: DNLI), Evelo Biosciences (Nasdaq: EVLO), Foghorn Therapeutics Indigo Ag, Kaleido Biosciences (Nasdaq: KLDO), Moderna (Nasdaq: MRNA), Omega Therapeutics (Nasdaq: OMGA), Rubius Therapeutics (Nasdaq: RUBY), Sana Biotechnology (Nasdaq: SANA), Seres Therapeutics (Nasdaq: MCRB), and Sigilon Therapeutics.
SEPSIS | April 25, 2022
Asep Medical Holdings Inc. ("Asep Inc." or the "Company") (CSE: ASEP) (OTCQB: SEPSF) is pleased to announce its recent successful listing on the OTCQB Venture Market in the US. The Company will be trading under the stock symbolOTCQB: SEPSF and will continue to sell its common shares on the CSE under the stock symbol CSE: ASEP. Asep Inc. will officially commence trading on the OTCQB as of the market opening today.
The Company is also pleased to announce that it has also met the requirements for an account with the Depository Trust Company (DTC). The DTC is one of the world's largest securities depositories and acts as a limited-purpose trust company that will provide safekeeping through electronic record-keeping of securities balances. It will also serve as the Company's clearinghouse to process and settle trades as well as providing liquidity enhancement.
Trading on the OTCQB is a significant milestone. It gives us added access and visibility with U.S. institutional and retail investors interested in the biotech and healthcare industries. The listing is expected to provide us with added liquidity and a diversified investor base in a large established public market. In parallel to the CSE, we expect to develop a strong shareholder base in the U.S. to achieve an improved valuation considering the innovative nature of our therapeutic and diagnostic technologies, as we strive to impact patients around the globe."
Chairman and CEO Rudy Mazzocchi.
Our leading technologies are directed to major worldwide issues with enormous economic impacts. This OTCQB listing will enable us to more effectively engage with knowledgeable investors outside Canada who support innovative and effective solutions."
Dr. Robert E. W. Hancock, the Company's Founder and COO.
OTCQB is recognized by the United States Securities and Exchange Commission as an established public market. The OTCQB platform enables companies to provide current public information that investors need to analyze, value and trade a security. An extensive network of data distributors and media partners ensures that trade data, news and disclosure are available to broker-dealers, market data providers, and investors. On the OTCQB, investors get an exchange-comparable information experience, convenient trading through their preferred broker or financial advisor, transparent pricing with real-time quotes, and trusted disclosure.
ABOUT ASEP MEDICAL HOLDINGS INC.
Asep Inc. is dedicated to addressing antibiotic failure by developing novel solutions for significant unmet medical needs. The Company is a consolidation of two existing private companies (Sepset Biosciences Inc. and ABT Innovations Inc.) that are both in the advanced development of both proprietary diagnostic tools, enabling the early and timely identification of severe sepsis as well as broad-spectrum therapeutic agents to address multidrug-resistant biofilm infections.
Sepset Biosciences Inc. is developing a diagnostic technology that involves a patient gene expression signature that predicts severe sepsis, one of the significant diseases leading to antibiotic failure since antibiotics are the primary treatment for sepsis. Despite this, sepsis is responsible for nearly 20% of all deaths on the planet. The SepsetER test is a blood-based gene expression assay that is straightforward to implement, and results are obtained in about an hour in the emergency room or intensive care unit. This proprietary diagnostic technology differs from current diagnostic tests in enabling diagnosis of severe sepsis within 1-2 hours of first clinical presentation (i.e., in the emergency room), while other diagnostics only provide diagnosis after 24-36 hours. Asep Inc. believes this will enable critical early decisions to be made by physicians regarding appropriate therapies and reduce overall morbidity and mortality due to sepsis.
Sepsis is the body's dysfunctional response to infection and is very common, occurring in 49-million individuals globally. Recently the situation has worsened since sepsis is the cause of death in most patients who die from COVID-19. Sepsis is tremendously complex, and early symptoms are relatively non-specific, including fever, fatigue, hyperventilation and a fast heart rate — symptoms can also occur in other diseases. The most severe form of the disease, which occurs for up to one-half of all patients with suspected sepsis, leads to multi-organ failure and, in 23% of cases, death. Current diagnostic tools deliver results after approximately 24-36 hours, often delaying the initiation of treatment.