Market Newsdesk

SAN DIEGO, Dec. 17, 2024 (GLOBE NEWSWIRE) — LPL Financial LLC announced today that financial advisor Jeffrey Grange, CWS® has joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Grange Wealth Management of LPL Financial. He reported serving approximately $300 million in advisory, brokerage and retirement plan assets* and joins LPL from D.A. Davidson & Co. He will operate from a new Linsco office in Santa Barbara, Calif.

Grange’s journey into financial services followed tenures as a college coach and professional sailor, where he won multiple national titles and a world championship in sailing. Now with two decades of experience as a financial advisor, Grange has built a successful practice that primarily serves high-net-worth individuals and affluent families. He’s supported by registered Client Service Associate Debora McKenzie-Jakushak.

“I enjoyed being a tactician in professional sailing working with the helmsman to get the boat around the racecourse the fastest,” Grange said. “Financial advising has many similarities in trust, partnership, working for a common goal, not taking too many risks and putting your teammates before yourself.”

The extensive size and scale of LPL Financial, coupled with the ability to function without conflicts of interest, were key factors in Grange’s decision to join LPL.

“I was searching for more freedom to better serve my clients and found that LPL provides the optionality and flexibility that I need to operate my practice in the best interests of my clients,” Grange said. “I appreciate that LPL’s enhanced technology allows me to elevate the client experience by creating more streamlined experiences.”

Looking for more independence without the burden of running his own business, Grange turned to the Linsco employee advisor solution. With Linsco, advisors have access to LPL’s integrated wealth management platform and robust business resources, along with the additional benefits of having support from an experienced branch management team and other dedicated consultants. This dynamic relationship gives advisors the ability to outsource things like real estate, technology, operations support and payroll so they can focus on what matters most: taking care of their clients.

“I am thrilled to be part of Linsco by LPL and to extend to my clients the exceptional service and resources they merit,” Grange said. “I appreciate all the help behind the scenes so that I dedicate my time to providing clients with personalized attention and sound investment strategies.”

Beyond his professional pursuits, Grange is an active member of the sailing community. His volunteer work includes contributions to junior sailing non-profits such as the UCSB Sailing Team, as well as participation in coastal protection and cleanup efforts.

Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Jeff to the Linsco community. We are committed to delivering the strategic support, innovative technology and business resources advisors need to build thriving practices and provide elevated experiences for their clients. We look forward to supporting Jeff for years to come as he continues to grow his practice and provide valuable financial guidance to his clients.”

Related

Advisors, learn how LPL Financial can help take your business to the next level.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 28,000 financial advisors and the wealth management practices of 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker dealer, member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

*Value approximated based on asset and holding details provided to LPL from mid-year 2024

Media Contact:
 
[email protected] 
(704) 996-1840

Tracking #670053

KISSIMMEE, Fla., Dec. 17, 2024 (GLOBE NEWSWIRE) — ECD Auto Design has officially kicked off production of the highly anticipated ECD Ford Mustang! Each bespoke car takes the iconic 1966-1970 Ford Mustang and reimagines it with modern technology, precision craftsmanship, and timeless style. It’s more than just a car, it’s a statement of what a classic American muscle car can be.

The ECD Ford Mustang is designed for those who appreciate the perfect balance of heritage and innovation and is a masterfully crafted one-of-one restomod, blending classic design with modern performance. Its robust chassis and expertly manufactured body ensure a perfect balance of strength, durability, and iconic style. With production now in full swing, we’re delivering a muscle car like no other, offering endless opportunities for customization, innovative performance upgrades, and luxurious touches that make it truly your own.

The Perfect Blend of Customization and Classic Design

Every ECD Mustang is a one-of-one masterpiece tailored to the individual tastes of its owner. Clients can choose from a range of powerful engine options, including modern Roush V8s offering a perfect blend of speed and power. Inside, the Mustang’s cabin is transformed into a luxurious sanctuary, featuring hand-stitched leather, custom finishes, and modern technology seamlessly integrated into its vintage charm.

“Our vision for the ECD Ford Mustang is to celebrate its iconic legacy while elevating it with 21st-century performance, luxury, and one-of-one customization,” said Scott Wallace, CEO of ECD Auto Design. “From the roar of the engine to the precision of the details, this Mustang will deliver an unforgettable driving experience.”

A Milestone for ECD Auto Design

Known for its world-class craftsmanship in restoring and reimagining Land Rover Defenders, Range Rover Classics, and Jaguar E-Types, ECD Auto Design is now extending its expertise to one of the most beloved American classics of all time. The Mustang joins ECD’s portfolio as the company’s first American muscle car project, marking a pivotal expansion of its offerings.

Moving into the production phase, Emily Humble, the Chief Production Officer for ECD Auto Design stated “Our clients have been eagerly awaiting the debut of the ECD Mustang, and we’re proud to deliver a restomod that honors the car’s rich history while providing unparalleled personalization and innovation. The ECD Ford Mustang is now in production and the entire team is beyond excited to add American muscle to our product line-up.”

About ECD Auto Design

ECD, a public company trading under ECDA on the Nasdaq, is a creator of restored luxury vehicles that combines classic English beauty with modern performance. Currently, ECD restores Land Rovers Series, Land Rover Series IIA, the Range Rover Classic, Jaguar E-Type, Ford Mustang and Toyota FJ. Each vehicle produced by ECD is fully bespoke, a one-off that is designed by the client through an immersive luxury design experience and hand-built from the ground up in 2,200 hours by master-certified Automotive Service Excellence (“ASE”) craftsmen. The company was founded in 2013 by three British “gear heads’ whose passion for classic vehicles is the driving force behind exceptionally high standards for quality, custom luxury vehicles. ECD’s global headquarters, known as the “Rover Dome,” is a 100,000-square-foot facility located in Kissimmee, Florida that is home to 90 talented craftsmen and technicians, who hold a combined 61 ASE and five master level certifications. ECD has an affiliated logistics center in the U.K. where its seven employees work to source and transport 25-year-old work vehicles back to the U.S. for restoration. For more information, visit www.ecdautodesign.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cdc697b2-67ab-444e-a708-804353b0da90.

Media Contact
Mike Whittaker
Public Relations & Content Manager
[email protected]
407-334-0943

Investor Contact:
Brian M. Prenoveau, CFA
MZ Group | Managing Director – MZ North America
Direct: 561-489-5315
Mobile: 561-374-0177
[email protected]    

HAUPPAUGE, N.Y., Dec. 17, 2024 (GLOBE NEWSWIRE) — Intelligent Product Solutions (IPS), an award-winning product design firm, today announced its partnership in the Advancing a Sustainable Hospital-at-Home Ecosystem at Scale (HaH) project, to improve at-home digitally-enabled home care. The HaH project is co-hosted by the Digital Medicine Society (DiMe) and Consumer Technology Association (CTA), with UMass Chan Medical School’s Program in Digital Medicine as the project’s Impact Partner.  

“As an inaugural member of this project, IPS brings its medtech product design expertise to this pivotal moment shaping the future of healthcare and harnessing the power of digital innovation to create a connected, healthier world for all,” said Abby Sugg, Associate Program Director, DiMe.

“We are thrilled to participate in this collaborative community to work towards impactful advancements in connected health, and to improve in-home patient care,” said Brad Carlson, Vice President of Technology and Business Development, IPS. “The potential safety, health and economic benefits from in-home care are significant.” 

Sugg explains that connected health offers the potential to maintain health where it exists and transform today’s sick care system into a healthcare system centered around the patient. Up until now, the lack of interoperable health-at-home devices has inhibited health technology integration into the home for use in wellness, prevention, managing chronic conditions, and clinical trials.

The more than 20 partners participating in the project will work to define the elements and functionality of the hospital-at-home tech stack to rapidly scale the model’s broad availability, and the adoption of the technology products and solutions that support it.

Surveys indicate that two-thirds of individuals between 60 and 79 years old prefer to stay in their homes as they age, and only 35% say that technology has helped them change their current health routine.  

Data
shows that hospitals offering inpatient-level care at home have experienced reduced costs, improved health outcomes, and enhanced patient experiences. Digital technologies are positioned to maximize the effectiveness and accessibility of this approach. In addition, a hospital-at-home model presents a significant opportunity to innovate and contribute to a more efficient, patient-centered healthcare landscape.

About Intelligent Product Solutions

IPS is an award-winning global product design and development company with headquarters in New York.  A division of Forward Industries (NASDAQ: FORD), IPS offers a full range of expert product design and engineering services, with an expertise in MedTech and wearable technology solutions. Its clients are among the leading brands in consumer electronics and medical devices, including Google, Verizon, Zebra Technologies and Steinway. To learn more about IPS, visit https://intelligentproduct.solutions or contact [email protected]. Visit IPS on social media:https://www.linkedin.com/company/intelligent-product-solutions/

For more media information, contact:
Lisa Hendrickson, LCH Communications for IPS
[email protected]
516-643-1642

Continued progress with both clinical trials of lead program, SON-1010, for solid tumors and Platinum-Resistant Ovarian Cancer (PROC) 

Executed licensing agreement to support initiation of a Phase 2 clinical trial of SON-080 in Diabetic Peripheral Neuropathy (DPN)

Multiple value-driving milestones expected throughout calendar year 2025 as well as pipeline expansion opportunities across the solid tumor market

Total annual operating expenses reduced by an approximate 37% as compared to fiscal year 2023

Approximately 43% of total annual operating expenses during fiscal year 2024 were covered by non-dilutive funding received during fiscal year 2024 from the New Jersey Tax Certificate Transfer and Australia R&D Tax Incentive Programs

PRINCETON, NJ, Dec. 17, 2024 (GLOBE NEWSWIRE) — Sonnet BioTherapeutics Holdings, Inc. (the “Company” or “Sonnet”) (NASDAQ: SONN), a clinical-stage company developing targeted immunotherapeutic drugs, reported today financial results for the fiscal year ended September 30, 2024 and provided a corporate update.

“We are very pleased with the progress we have made across all facets of the company’s operations. On the financial front, we have delivered on our stated objective of cutting costs through an approximate 37% reduction in total operating expenses versus last year, which will help to extend our cash runway, combined with being able to leverage non-dilutive funding and capital markets financings. Additionally, we have executed on our partnership plans to advance both our SON-080 program and SON-1210 program to their respective next stages of development and continue to believe in their potential to address indications of significant unmet need,” commented Pankaj Mohan, Ph.D., Founder and Chief Executive Officer of Sonnet. “Looking ahead, our focus is on advancing our lead program, SON-1010, and we are pleased to be on track for key data readouts from our ongoing SB101 trial for solid tumors and our SB221 trial for PROC. We look forward to the upcoming data readouts to help further unlock the intrinsic value of our F_HAB technology platform.”

Recent Highlights

• Announced topline safety data following successful completion of SON-1010 monotherapy dose escalation in the Phase 1 SB101 trial;
• Announced the publication of extensive discovery, development, and preclinical data regarding SON-1010, demonstrating its mechanism of action in a paper entitled, “SON-1010: an albumin-binding IL-12 fusion protein that improves cytokine half-life, targets tumors, and enhances therapeutic efficacy,” in Frontiers in Immunology;
• Granted U.S. Patent No. 12,134,635 covering two of its novel drug candidates, SON-1411 (IL-18^BPR-F_HAB-IL12) and SON-1400 (IL-18^BPR-F_HAB), each containing a modified version of recombinant human interleukin-18 (BPR = Binding Protein Resistant);
• Entered into a licensing agreement with Alkem Laboratories Limited for the research, development, manufacturing, marketing, and commercialization of the SON-080 molecule for the treatment of DPN in India;
• Received preliminary approval for the sale of tax credits from the New Jersey Technology Business Tax Certificate Transfer Program administered by the New Jersey Economic Development Authority (NJEDA); and
• Entered into a Master Clinical Collaboration Agreement with the Sarcoma Oncology Center to advance the development of SON-1210 in combination with chemotherapy for the treatment of metastatic pancreatic cancer.

Lead Clinical Programs Update

SON-1010

:
Targeted Immune Activation Cancer Therapy, Turning ‘Cold’ Tumors ‘Hot’,
Initially Targeting Solid Tumors and Platinum-Resistant Ovarian Cancer (PROC)

Phase 1 Trial (SB101 Trial): Advanced Solid Tumors (Monotherapy)

This first-in-human study is primarily designed to evaluate the safety, tolerability, PK, and PD of multiple ascending doses of SON-1010 in cancer patients and is being conducted at several sites across the United States. The Company recently completed enrollment and dose escalation in the Phase 1 SB101 clinical trial of SON-1010 (IL12-F_HAB) in adult patients with advanced solid tumors. Additionally, the Company reported that results of SON-1010 at the highest dose have been formally evaluated by the Safety Review Committee. The study has enrolled 24 subjects to date. Primary outcome measures for the study were to evaluate the safety and tolerability of SON-1010 and establish the MTD.

For more information about the SB101 clinical trial, visit clinicaltrials.gov and reference identifier NCT05352750.

Phase 1b/2a Trial (SB221 Trial): Advanced Solid Tumors and PROC (Combo with Atezolizumab)

The second trial is a global Phase 1b/2a multicenter, dose-escalation and randomized proof-of-concept study to assess the safety, tolerability, PK, PD, and efficacy of SON-1010 administered subcutaneously (SC) in combination with atezolizumab given intravenously (IV) (in collaboration with Genentech, a member of the Roche Group). This study was recently expanded to include the MTD of SON-1010 from SB101. Enrollment remains ongoing and an update on safety at the MTD in that trial is expected in Q1 2025.

For more information about the SB221 clinical trial, visit clinicaltrials.gov and reference identifier NCT05756907.

SON-1010 Upcoming Milestones

• Phase 1: Solid Tumors (Monotherapy)​
  • H1 calendar year 2025: Topline Efficacy Data​

• Phase 1b/2a: PROC (Combo with Atezolizumab)​
  • Q1 calendar year 2025: Additional Safety Data​
  • H2 calendar year 2025: RP2D & Topline Efficacy Data

SON-1210:

Proprietary, Bifunctional Version of Human Interleukins 12 (IL-12) and 15 (IL-15), Configured Using Sonnet’s Fully Human Albumin Binding (F

_H

AB

^®

) platform, in Combination with Chemotherapy for the Treatment of Advanced Solid Tumors and Metastatic Pancreatic Cancer

As previously announced, the Company successfully completed two IND-enabling toxicology studies of SON-1210 in non-human primates (NHPs), which demonstrated no overt toxicity in the GLP study apart from the expected and mild, on-target changes in hematology and clinical chemistry parameters that resolved completely within 14 to 21 days post-dosing. A significant increase in interferon gamma (IFNγ), which was controlled and prolonged, was noted as early as one day following administration, with no apparent increase in other proinflammatory cytokines. IFNγ is a well-known pharmacodynamic biomarker that is required for anti-tumor efficacy in preclinical models. Other signs of cytokine imbalance, or uncontrolled increase of pro-inflammatory cytokines (including TNF-α, IL-1β, and IL-6) were notably absent from all dose levels tested in the study.

In August 2024, the Company entered into a Master Clinical Collaboration Agreement with the Sarcoma Oncology Center, to conduct an investigator-initiated Phase 1/2a clinical study to evaluate SON-1210 in combination with several chemotherapeutic agents including but not limited to NALIRIFOX (the combination of liposomal irinotecan, 5-fluorouracil/leucovorin, and oxaliplatin) for the specific treatment of metastatic pancreatic cancer. The NALIRIFOX regimen is U.S. FDA-approved for the treatment of metastatic pancreatic cancer in the front-line and refractory settings.

SON-1210 Upcoming Milestones

• Q1 calendar year 2025: IND Submission
• H1 calendar year 2025: 1^st Patient Dosed in Investigator-Initiated Phase 1/2a Study

SON-080:

Low dose of rhIL-6 for Chemotherapy-Induced Peripheral Neuropathy (CIPN) and Diabetic Peripheral Neuropathy (DPN)

In October 2024, the Company entered into a licensing agreement (the “Licensing Agreement”) with Alkem Laboratories Limited (“Alkem”) for the research, development, manufacturing, marketing, and commercialization of its SON-080 molecule for the treatment of DPN in India and the manufacturing, marketing, and commercialization of SON-080 for chemotherapy induced neuropathy (CIPN) and autonomic neuropathy in India. Alkem will conduct all clinical trials it believes appropriate to obtain regulatory approval in India of SON-080 for the treatment of DPN.

Summary of Financial Results for the Fiscal Year 2024

As of September 30, 2024, Sonnet had $0.1 million cash on hand. The Company believes that based on cash on hand at September 30, 2024, together with the approximate $7.7 million recently received through the sale of common stock and warrants in November and December 2024, $0.7 million received from the R&D Tax Incentive Program in Australia in November 2024 to satisfy the Company’s incentive tax receivable, and $0.5 million received in October 2024 as an upfront payment related to the License Agreement, which after tax withholdings resulted in a net payment of $0.4 million, it has sufficient funds for projected operations into July 2025.

Research and development expenses were $5.7 million for the year ended September 30, 2024, compared to $11.8 million for the year ended September 30, 2023.

General and administrative expenses were $6.1 million for the year ended September 30, 2024, compared to $7.1 million for the year ended September 30, 2023.

About Sonnet BioTherapeutics Holdings, Inc.

Sonnet BioTherapeutics is an oncology-focused biotechnology company with a proprietary platform for innovating biologic drugs of single or bifunctional action. Known as F_HAB (Fully Human Albumin Binding), the technology utilizes a fully human single chain antibody fragment (scFv) that binds to and “hitch-hikes” on human serum albumin (HSA) for transport to target tissues. Sonnet’s F_HAB was designed to specifically target tumor and lymphatic tissue, with an improved therapeutic window for optimizing the safety and efficacy of immune modulating biologic drugs. F_HAB is the foundation of a modular, plug-and-play construct for potentiating a range of large molecule therapeutic classes, including cytokines, peptides, antibodies, and vaccines.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the outcome of the Company’s clinical trials, the Company’s cash runway, the Company’s product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management’s current beliefs and assumptions.

These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company’s filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Relations Contact:

JTC Team, LLC
Jenene Thomas
908-824-0775
[email protected]

Sonnet BioTherapeutics Holdings, Inc.

Consolidated Balance Sheets

		September 30,
		2024				2023
Assets
Current assets:
Cash and cash equivalents		$	149,456			$	2,274,259
Prepaid expenses and other current assets			1,206,409				1,677,396
Incentive tax receivable			762,078				786,574
Total current assets			2,117,943				4,738,229
Property and equipment, net			20,523				33,366
Operating lease right-of-use asset			123,417				193,689
Deferred offering costs			15,000				49,988
Other assets			494,147				414,206
Total assets		$	2,771,030			$	5,429,478
Liabilities and stockholders’ deficit
Current liabilities:
Accounts payable		$	2,183,416			$	2,201,999
Accrued expenses and other current liabilities			942,489				3,230,922
Current portion of operating lease liability			84,291				73,048
Deferred income			—				18,626
Total current liabilities			3,210,196				5,524,595
Operating lease liability, net of current portion			46,573				130,863
Total liabilities			3,256,769				5,655,458
Commitments and contingencies (Note 5)
Stockholders’ deficit:
Preferred stock, $0.0001 par value: 5,000,000 shares authorized; no shares issued or outstanding			—				—
Common stock, $0.0001 par value: 125,000,000 shares authorized; 650,284 and 218,786 issued and outstanding at September 30, 2024 and 2023, respectively			65				22
Additional paid-in capital			117,195,181				110,017,751
Accumulated deficit			(117,680,985	)			(110,243,753	)
Total stockholders’ deficit			(485,739	)			(225,980	)
Total liabilities and stockholders’ deficit		$	2,771,030			$	5,429,478

Sonnet BioTherapeutics Holdings, Inc.

Consolidated Statements of Operations

		Years ended September 30,
		2024				2023
Collaboration revenue		$	18,626			$	147,805
Operating expenses:
Research and development			5,737,252				11,814,690
General and administrative			6,130,845				7,125,732
Total operating expense			11,868,097				18,940,422
Loss from operations			(11,849,471	)			(18,792,617	)
Foreign exchange gain (loss)			84,293				(40,077	)
Other income			4,327,946				—
Net loss		$	(7,437,232	)		$	(18,832,694	)
Per share information:
Net loss per share, basic and diluted		$	(11.35	)		$	(145.13	)
Weighted average shares outstanding, basic and diluted			655,240				129,760

PALM BEACH, Fla., Dec. 17, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – With the advent of Artificial Intelligence (AI), the methods and techniques to diagnose have helped doctors and patients to understand these diseases in a much faster way, leading to the steady employment of AI in multiple diagnoses around the healthcare industry. The field of medical diagnostics is getting revolutionized due to AI. Medical imaging data, including X-rays, MRIs, and ultrasounds are getting analyzed by AI algorithms to help doctors discover and diagnose diseases more accurately and at a much faster rate. This can assist healthcare professionals in making better judgments regarding patient care, leading to increasing AI in diagnostics market size.   A report from Fact.MR projected that revenue from the global Artificial Intelligence in diagnostics market is projected to reach US$ 1.85 billion in 2024 and thereafter increase swiftly at a CAGR of 23.1% to end up at US$ 14.76 billion by 2034.   The report said: “Health issues are rising among people as the world goes through climate change and other environmental factors, people are getting concerned about their health thus leading to more people going to doctors for diagnosis and proper health checkups.   Medical diagnostics is a process through which doctors understand the condition of a patient’s body and analyze whether the patient is suffering from any particular harmful disease. The analysis and results of these tests help doctors use the most suitable course of treatment for their patients to fight the diseases, contributing to the overall expansion of the AI in diagnostics market growth.”   Active companies active in the markets include: Avant Technologies Inc. (OTCQB: AVAI), Tempus AI, Inc. (NASDAQ: TEM), Medtronic plc (NYSE: MDT), Stryker (NYSE: SYK), Pegasystems Inc. (NASDAQ: PEGA).

Fact.MR continued: “The market share of South Asia & Pacific is estimated to jump from 9.1% in 2024 to 14.9% by 2034, compared to the Middle East & Africa region, where the market share is forecasted to increase from 3.8% in 2024 to 5.5% by 2034. This is pushing more healthcare professionals and research centers to establish their study centers in South Asia & Pacific instead of the Middle East & Africa.   The market in Eastern Europe is forecasted to expand faster compared to Western Europe. The market in Western Europe is estimated to expand at a CAGR of 16.6% through 2034, while Eastern Europe is analyzed to expand at a CAGR of 19.6% from 2024 to 2034.   The United States has always led the race for technological improvements and innovations, and this holds true for AI as well. Every year, engineers introduce advancements in areas such as machine learning and natural language processing, which increase the accuracy and precision of analysis and research.   As a result, healthcare providers are increasingly trusting AI for diagnosis, significantly contributing to market revenue. Researchers in the United States are also focusing on expanding their systems internationally to gain a first-mover advantage.”

Avant Technologies, Inc. (OTCQB: AVAI)
and Ainnova Secure Advanced AI Algorithms for Early Detection of Four Additional Diseases in the U.S.
– Avant Technologies, Inc. (“Avant” or the “Company”) and its partner, Ainnova Tech, Inc. (Ainnova), a leading healthcare technology company focused on revolutionizing early disease detection using artificial intelligence (AI), today announced Ainnova’s acquisition of an exclusive license for 4 groundbreaking, AI-driven algorithms from one of Asia’s most respected and largest healthcare institutions. These solutions, validated across diverse geographies, ethnicities, and socio-economic populations with data from over 2-million patients, will join Ainnova’s existing diabetic retinopathy and retinal disease detection solutions.

The 4 algorithms include early detection for cardiovascular risk, prediabetes and type 2 diabetes, fatty liver disease, and chronic kidney disease. Combined with Ainnova’s existing retinal disease detection tools, these new algorithms will be used with Ainnova’s powerful cutting-edge AI platform, VisionAI, to detect the early markers of these diseases quickly and accurately by applying AI.

The acquisition of an exclusive license to use 4 advanced algorithms in the Americas offers Ai-nova Acquisition Corp. (AAC), the company formed by the partnership between Avant and Ainnova, a robust platform for primary care providers to streamline early risk screening and improving patient care in the United States.

Ainnova will introduce these cutting-edge solutions in Latin America with strategic partners in primary healthcare services across key markets like Mexico and Brazil. AAC expects to build on Ainnova’s regional expansion by securing clearance from the U.S. Food and Drug Administration in 2025 to then introduce these solutions in the U.S. market.

While explaining that these efforts aim to transform the current approach to preventive care by providing accessible, efficient, and impactful health screening solutions, Ainnova’s Chief Executive Officer, Vinicio Vargas, said, “This license represents a pivotal moment for Ainnova and for its partnership with Avant as it allows us to bring world class, validated solutions to the Americas. This effort not only complements our current solutions, but it also aligns with our ongoing R&D initiatives to continue incorporating new diseases that can be detected quickly and affordably, pushing the boundaries of preventive care, and making healthcare more inclusive and accessible to all.”

The licensed algorithms enhance the company’s capabilities to empower healthcare providers with comprehensive, fast, and accessible tools for early disease detection. Using simple patient datapoints—such as demographics, lifestyle attributes, and routine measures, like blood pressure—these algorithms enable rapid risk screening, facilitating timely specialist referrals and improving health outcomes.   CONTINUED… Read this and more news for Avant Technologies at:   https://www.financialnewsmedia.com/news-avai/

In other healthcare/technology industry developments and happenings in the market recently include:

Medtronic plc (NYSE: MDT) – Health system leaders are under tremendous pressure to find cost-effective solutions aimed at improving patient outcomes and operational efficiency. While balancing these demands is challenging, advancements in artificial intelligence (AI) can help make healthcare work better for everyone.

Artificial intelligence is a powerful tool that can increase the speed, efficiency, and effectiveness of global health systems. By analyzing large amounts of data in real time, AI can help improve clinical and nonclinical decision making, reduce medical variability, and optimize staffing. Likewise, AI can reduce the volume of tedious administrative tasks that often lead to burnout among healthcare professionals.

At Medtronic, we’re driven to create healthcare technologies that are worthy of the human body. That’s why we’ve adopted a people-centered approach to the research, development, and responsible deployment of AI. When AI solutions are seamlessly integrated into health system workflows, clinicians have the power to focus on what matters most: patients.

Stryker (NYSE:SYK) recently announced a definitive agreement to acquire care.ai, a privately held company specializing in delivering AI-assisted virtual care workflows, smart room technology and ambient intelligence solutions. The acquisition will strengthen Stryker’s growing healthcare IT offering and wirelessly connected medical device portfolio.

This growing segment is of increasing importance as Stryker’s customers continue to face nursing shortages, employee retention challenges, overworked and cognitively burdened staff, and a rise in workplace safety concerns. care.ai adds complementary technology that will integrate seamlessly with the Vocera platform and Stryker’s devices, providing customers with an enterprise-wide ecosystem that can deliver dynamic clinical workflows and further the development of smart care facilities. Care.ai’s platform and sensors enable a variety of AI-assisted workflows that can help deliver a responsive and personalized healthcare environment, allowing caregivers to spend more time with patients.

Tempus AI, Inc. (NASDAQ: TEM) and Northwestern Medicine recently announced a collaboration that aims to explore the application of artificial intelligence in clinical care and research. The collaboration, which is expected to span across several disease conditions over time, will start with the Northwestern Medicine Bluhm Cardiovascular Institute, a nationally recognized destination for specialized cardiovascular care and advancing discovery.

“As we navigate the complex landscape of healthcare, this collaboration between Tempus and Northwestern Medicine underscores an alliance in revolutionizing patient care through AI-enabled methods,” said Eric Lefkofsky, CEO and Founder of Tempus. “By harnessing the power of data-driven insights, we’re not just treating diseases; we’re illuminating pathways to better outcomes, faster diagnoses, and more personalized treatment plans.”

Pegasystems Inc. (NASDAQ: PEGA) recently announced the availability of new AI-driven legacy discovery capabilities in Pega GenAI Blueprint™ to accelerate the daunting task of modernizing legacy systems that hold organizations back. Now IT teams can analyze their existing systems in seconds and reimagine their workflows while reducing technical debt.

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SAN JUAN, Puerto Rico, Dec. 17, 2024 (GLOBE NEWSWIRE) — LUMA announced today the completion of the open procurement process and the next step of their initiative to deploy approximately 1.5 million smart meters across Puerto Rico. This significant milestone in the modernization of Puerto Rico’s electric grid and customers will not see any rate increases associated with the initiative.

This contract is the result of a thorough and competitive process that followed all applicable laws and regulations including an open Request for Proposal (RFP). The selected vendor, Itron, a global leader in smart meter technology, will provide Puerto Rico with cutting-edge grid intelligence capabilities, enhancing the grid’s reliability, efficiency, and resilience. This contract will allow local companies in Puerto Rico to be part of the installation of the equipment, creating more than 150 direct and indirect jobs on the island.

As part of LUMA’s grid modernization efforts, LUMA will deploy Itron’s leading smart grid platform, which includes 1.5 million electric smart meters and a new communications network with redundancy that would be the first of its kind in the history of Puerto Rico. The platform features distributed intelligence grid-edge capabilities, which will give LUMA improved awareness and control of its electric grid, delivering more benefits to the people of Puerto Rico. With the platform, LUMA will improve reliability, resiliency and enhance customer service. Benefits of the platform include:

• Greater customer control over their energy consumption through better energy usage information.
• Better customer engagement and faster response for restoration of service through improved outage detection technology. 
• Improved renewables integration while enabling broader deployment of Distributed Energy Resources (DER), including rooftop solar, battery storage, EV charging at home, and microgrids.
• Support for new energy efficiency programs to engage and empower customers to better manage their usage.
• Improved situational awareness below the substation for monitoring the grid and responding to changes in grid state during blue sky days and major weather events.

“We are taking a major step forward in our mission to transform Puerto Rico’s electric grid into a more reliable, resilient, and sustainable system,” said Juan Saca, President & CEO of LUMA. “The installation of these smart meters is central to our long-term goal of improving service to customers and ensuring that Puerto Rico becomes a leader in grid modernization in the Caribbean.”

“We are honored to work with LUMA on this historic project to advance grid modernization,” said Tom Deitrich, president and CEO of Itron. “With Itron’s intelligent endpoints, advanced software, and proven network platform, LUMA is building a foundation to ensure greater grid reliability and resiliency, enhanced quality of customer service, and accelerated response to extreme weather events.”

The installation will begin in the San Juan region and extend island-wide over the next three years. Field crews and subcontractors, primarily hired locally, will focus on safety and quality installations throughout the project.

Selection Process and Vendor Commitment

The selection process adhered to LUMA’s strict procurement guidelines, ensuring that the chosen vendor met all regulatory requirements and demonstrated a strong commitment to delivering quality and reliability. Itron’s technology suite includes a meter software system that will allow LUMA to better monitor energy usage, detect outages, and address tampering or system inefficiencies. The selected vendor’s technology also includes a 15-year warranty and integrates seamlessly with LUMA’s existing infrastructure, enhancing overall grid performance.

About LUMA

LUMA is a Puerto Rican company that, since June 1, 2021, operates and manages the electric power transmission and distribution system in Puerto Rico. LUMA is a company driven by a mission to transform the electrical transmission and distribution system to provide all Puerto Ricans with the reliable, resilient, clean, and affordable electrical service they deserve. As a customer-centric company, LUMA’s entire workforce is focused on safely delivering an exceptional customer service experience to its 1.5 million customers.

About Itron

Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com.

Hugo Sorrentini
Director, Media & Digital Brand Strategy
787-342-5425
[email protected]

Itron, Inc.

Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
[email protected]

COLUMBUS, Ohio, Dec. 17, 2024 (GLOBE NEWSWIRE) — Root, Inc. (NASDAQ: ROOT), a leading technology company powering insurance solutions and the parent company of Root Property & Casualty Insurance Company, has announced the availability of Root Insurance in Minnesota. The insurer now serves drivers in 35 states, extending its innovative approach to auto insurance to over 4 million registered drivers in Minnesota and covering more than 77% of the U.S. population.

Root was founded on the idea that car insurance rates should be based primarily on driving behaviors, not demographics. By leveraging advanced, mobile-first technology and data science, Root delivers a personalized, seamless, and fair insurance experience to drivers. Root uses smartphone technology to measure safe driving habits, placing driving behavior at the forefront of its pricing models. By making driving performance the top factor in determining rates, Root empowers safe drivers to save more.

“We’re excited to bring an easy, technology-driven, car insurance option to Minnesota, offering drivers a new option for fair, affordable prices that reflect their individual driving habits,” said Alex Timm, Co-Founder and CEO of Root. “Minnesotans now have access to a smarter, more convenient insurance experience based on how they drive.”

Minnesotans can now access Root’s innovative, customer-focused insurance through the Root mobile app or at joinroot.com, with the ability to sign up in under a minute. Drivers then complete a test drive over a few weeks, during which the app measures habits like focused driving, smooth braking, and gentle turning. Safe drivers could see significant savings with the flexibility to choose coverage levels and manage claims, all through the app.

Root partners with tech-forward companies as well as independent insurance agents, offering Minnesotans multiple convenient ways to access its services.

About Root, Inc.

Founded in 2015 and based in Columbus, Ohio, Root, Inc. (NASDAQ: ROOT) is the parent company of Root Property & Casualty Insurance Company and Root Insurance Company. Root is revolutionizing insurance through data science and technology to provide consumers a personalized, easy, and fair experience. The Root app has more than 14 million app downloads and has collected more than 29 billion miles of driving data to inform their insurance offerings.

For more information about Root, visitroot.com. Download the Root app today from the Apple App Store or Google Play. To see where Root is available, explore our state-by-state guide on the website.

Root is headquartered in Columbus, Ohio, and offers auto insurance to drivers in Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Mexico, Nevada, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, West Virginia, and Wisconsin. Root Insurance also offers renters insurance in Arkansas, Georgia, Kentucky, Missouri, Nevada, New Mexico, Ohio, Tennessee, and Utah. Minnesota auto insurance is underwritten by Root Property & Casualty Insurance Company.

Contacts:

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Patient screening underway; first patient expected to be randomized into the study in January

A leading clinical trial site management organization (SMO), Australian Clinical Trial Network (ACTioN), has been engaged to implement patient recruitment and retention strategies   

NEW YORK, Dec. 17, 2024 (GLOBE NEWSWIRE) — Psyence Biomedical Ltd. (Nasdaq: PBM) (“Psyence Biomed” or the “Company”) today highlighted recent progress that has been made with its active Phase IIb clinical trial of nature derived psilocybin, in conjunction with psychotherapy, as a potential treatment for Adjustment Disorder following a life-limiting cancer diagnosis in Palliative Care.   

To date, two trial sites in Australia – Vitalis and EMPAX – have been activated, and patient screening has commenced. Psyence Biomed anticipates that the first patients will be randomized into the study in January. Additionally, therapist training is ongoing at both sites. Psyence Biomed is also evaluating additional sites to potentially participate in the trial.

To augment its own patient enrollment initiatives, Psyence Biomed’s contract research organization (CRO), iNGENū CRO, has engaged ACTioN SMO to focus on patient recruitment strategies through social media as well as direct email communications to physicians, potential clinical trial sites and disease state advocacy groups, including in the areas of oncology, primary care and psychiatry. ACTioN SMO is working closely with the activated sites, and the initial outreach to a broad audience has occurred.

Dr. Clive Ward-Able, Medical Director of Psyence Biomed, commented, “In collaboration with iNGENū and ACTioN, we have made substantial progress advancing start-up activities related to our Phase IIb trial, and we are poised to commence patient randomization and treatments shortly after this holiday season. With assistance from the team at ACTioN and their proven patient and provider outreach capabilities, we anticipate that the desired recruitment rate will progress smoothly. We look forward to topline results from this trial in the second half of 2025.”

David Harford, Managing Director of ACTioN, added, “We are proud to support Psyence Biomed’s innovative research into the potential of nature-derived psilocybin as a treatment for Adjustment Disorder in the Palliative Care setting. This study aligns with our mission to foster groundbreaking clinical advancements. At ACTioN, we will focus on patient recruitment and retention strategies, which are critical to the study’s success. We are committed to assisting sites in achieving their recruitment goals and ensuring the study’s smooth execution.”

About Psyence Biomed

Psyence Biomedical Ltd. (Nasdaq: PBM) is the world’s first life science biotechnology company developing nature-derived (non-synthetic) psilocybin-based psychedelic medicines to be listed on Nasdaq. Psyence is initially working to address the unmet needs of patients who suffer from mental health disorders in the context of Palliative Care. The name “Psyence” combines the words “psychedelics” and “science” to affirm Psyence Biomed’s commitment to an evidence-based approach to innovation as it works to develop safe and effective, regulatory-approved, nature-derived psychedelic therapeutics to treat a broad range of mental health disorders. Learn more at www.psyencebiomed.com and on LinkedIn.

Contact Information

Email: [email protected]
Media Inquiries: [email protected]
General Information: [email protected]
Phone: +1 416-477-1708

Investor Contact:

Jeremy Feffer
Managing Director
LifeSci Advisors
[email protected]

Forward Looking Statements

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning.

Forward-looking statements in this communication include statements regarding the advancement of Psyence Biomed’s Phase IIb clinical trial and patient recruitment, and the production of topline results from this trial. These forward-looking statements are based on a number of assumptions, including the assumptions that the parties will obtain all such regulatory approvals as may be required to execute on the Phase IIb clinical trial, and that there will not be any unforeseen delays in the implementation schedule of the clinical trial.

There are numerous risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, among others: (i) delays in the implementation schedule of Psyence Biomed’s Phase IIb clinical trials; (ii) the ability of Psyence Biomed to execute its obligations in respect of its product development objectives; (iii) changes in applicable laws which may impact drug development, clinical trials and/or the conducting thereof; (iv) Psyence Biomed’s ability to obtain regulatory approval for the proposed product candidate, and any related restrictions or limitations of any approved products; (v) the ability of Psyence Biomed to maintain the listing of its common shares and warrants on Nasdaq; and (vi) volatility in the price of the securities of Psyence Biomed due to a variety of factors, including changes in the competitive and highly regulated industries in which Psyence Biomed operates, variations in performance across competitors, changes in laws and regulations affecting Psyence Biomed’s business and changes in Psyence Biomed’s capital structure. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the final prospectus (File No. 333-282468) filed with the Securities and Exchange Commission on October 10, 2024 and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Actual results and future events could differ materially from those anticipated in such information. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required by law, the Company does not intend to update these forward-looking statements.

The Company makes no medical, treatment or health benefit claims about the Company’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy, and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.

Geneva, Switzerland, Dec. 17, 2024 (GLOBE NEWSWIRE) —

                                                  

SEALSQ Corp (NASDAQ: LAES) (“SEALSQ” or “Company”), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced a strategic partnership with Hedera to deliver next-generation quantum-resistant semiconductors, integrating cutting-edge security solutions to protect critical infrastructures in the emerging post-quantum world. SEALSQ has commenced the quality and functional testing phase for the initial batch of its revolutionary quantum-resistant hardware platform, the QS7001, and remains on track to begin production and delivery as scheduled in 2025.

The collaboration between SEALSQ and Hedera through The Hashgraph Group (THG) represents a critical step forward in addressing quantum threats that could compromise traditional cryptographic systems. As quantum computers evolve, they have the potential to solve problems, such as integer factorization and discrete logarithms, which are currently infeasible for classical computers. This advancement threatens public-key cryptographic systems that secure digital signatures and transactions. Hedera’s blockchain/distributed ledger technology (DLT) network, which relies on robust and secure cryptography for authorizing transactions and maintaining state integrity, will benefit from SEALSQ’s quantum-resistant chips to ensure long-term security and resilience.

SEALSQ’s 2025 product roadmap features the QS7001 Open Platform and the QVault Trusted Platform Module (TPM). Engineering samples of the QS7001 are undergoing extensive physical and logical validation to meet the highest security standards. This technology integration with Hedera will help future-proof digital signatures and communication channels, ensuring they are secure against potential quantum attacks. Hedera’s adoption of the CNSA (Commercial National Security Algorithm) Suite, which mandates 256-bit AES keys and 384-bit SHA-2 hashes, is a strong foundation for transitioning to post-quantum cryptographic solutions.

By combining SEALSQ’s expertise in semiconductor design with Hedera’s advanced decentralized network, the partnership is set to provide a robust defense against quantum vulnerabilities. With the threat of Shor’s and Grover’s algorithms potentially compromising existing cryptographic methods, SEALSQ’s quantum-resistant hardware ensures resilience for digital infrastructure, financial systems, and data integrity.

The collaboration underscores a shared commitment to innovation and security. As SEALSQ prepares for the market launch of its Quantum-Resistant Secure Chips, the company is poised to support Hedera’s ecosystem through the deep-tech venture studios operated by THG globally as well as other enterprises seeking to transition to quantum-secure infrastructures. This strategic partnership is a pivotal move in safeguarding the future of secure communications, transactions, and blockchain technology in an era of quantum computing.

About Hedera

Hedera is a leading decentralized public network offering fast, secure, and fair blockchain solutions for the modern digital economy. For more information, visit www.hedera.com.

About THG

The Hashgraph Group (THG) is a Swiss-based international business, venture capital, and technology company that operates exclusively within the Hedera ecosystem. For more information, visit www.hashgraph-group.com.

About SEALSQ

SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, Medical and Healthcare and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.

Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, please visit www.sealsq.com.

Forward-Looking Statements

This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ’s ability to implement its growth strategies; SEALSQ’s ability to successfully launch post-quantum semiconductor technology; SEALSQ’s ability to capture a share of the quantum semiconductor market; the growth of the quantum computing market; SEALSQ’s ability to expand its U.S. operations; SEALSQ’s ability to enhance its production facilities in the U.S. and France; SEALSQ’s ability to make additional investments towards the development of a new generation of quantum-ready semiconductors; the success of SEALCOIN; SEALSQ’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; the growth of the quantum computing market; and the risks discussed in SEALSQ’s filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.

SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

Press and Investor Contacts

SEALSQ Corp. Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 [email protected]

SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / [email protected] Katie Murphy Tel: +212 836-9612 / [email protected]