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Pump Launches PumpGPT to solve AWS business support challenge

Pump

Thousands of companies rely on cloud provider Amazon Web Services (AWS) to function, spending close $100b every year. Using AWS comes with a steep learning curve and immense complexity, so it is unsurprisingly almost 10% of their budget is spent on the AWS support function. Helping these companies save that support spend, cloud spend manager Pump has today launched PumptGPT the first GPT-powered AI AWS support tool trained on a customer's own cloud environment. Pump has been working hard on democratizing cost savings on AWS, extending significant discounts that were once reserved for only large enterprises to everyone else. AI startup Pump is a FinOps platform that offers group-buying helping small businesses effortlessly save 60% on AWS spend. Within just a few minutes of setting up, users can reduce AWS expenses across 12 key AWS services. Notably, Pump's solution requires no access to code or engineering resources, operating with minimal permissions solely on cost data. Pump is now addressing questions and complexities of AWS for those without an in-house team. While basic billing support is offered for free by AWS, businesses are often compelled, by complex requirements, to subscribe to AWS business support for 24 x 7 technical support and contextual architectural guidance. This further costs them an astounding 10% of their total monthly bill. PumpGPT, the in-house AWS expert and DevOps engineer, is now available 24/7 and completely free for end-users. Trained on AWS documentation and proficient in Python and Java, PumpGPT boasts a deep understanding of real-world cloud usage, enabling it to swiftly address any inquiries related to AWS services, billing, and architecture. It serves as a reliable knowledge base, offering precise and comprehensive answers, empowering users to make informed and cost-effective decisions based on their own unique AWS environment. PumpGPT leverages advanced techniques such as deep prompt enrichment and domain-specific data integration to provide accurate and insightful responses while preventing misinformation. Users can dive up to eight levels deep in question threads for in-depth insights. Pump also bridges to human support by assisting users in filing support tickets when necessary. PumpGPT's exceptional performance extends to certification, having scored over 91% on every AWS Certified Solutions Architect exam attempt, even surpassing the renowned GPT-4 in accuracy by up to 90%. This achievement solidifies PumpGPT as an honorary graduate in the realm of AI-powered solutions. Spandana Nakka, CEO of Pump commented: "Our mission has always been to use technology to democratize all aspects of AWS for our customers. First, we tackled spending, helping users save up to 60%. Now, we're taking on support. With PumpGPT, quality AWS support should not be a luxury; it's a given." According to Gartner, cloud spending is projected to reach $600 billion in 2023, growing steadily at 20% year over year. The advancement in AI and the generative AI explosion have further accelerated spending on major cloud providers. AWS leads the space, hosting over 1.4 million businesses, with 90% of them being small and mid-sized companies. More than half of these companies either struggle to comprehend where cost optimization is needed or lack the in-house resources to execute a proper process. Paul Lee, Board Partner at Tribe Capital commented: “Pump is walking the talk on dealing with cloud spend. They’ve quickly hit the 200 customers milestone and are growing quickly. Their latest innovation PumpGPT will be game-changing and shows how determined they are to get under the hood of the pains businesses are facing right around the world” Pump was founded in early 2022 by Spandana Nakka, during a period when the tech industry experienced an economic downturn, and cost savings were of paramount importance. The team is made up of serial entrepreneurs and Google engineers who had previously exited a startup, drawing from their own struggles with cloud cost management. Pump is backed by Y Combinator and currently serves over 200 companies, helping them save more than $12 million per year. Spandana Nakka added: “Our commitment to democratizing AWS costs for small businesses is just the beginning. In the years to come, we envision both Pump and PumpGPT evolving into a true partner in digital transformation. They will not only answer questions but anticipate needs, proactively optimizing AWS usage and costs. We anticipate it becoming an integral part of every organization's cloud strategy, guiding them toward greater efficiency, agility, and success.” “Indeed, our vision extends beyond the horizon of AWS. We aim to continually push the boundaries of what technology can achieve, staying at the forefront of AI innovation. PumpGPT's relentless pursuit of accuracy and insight will be instrumental in realizing this vision.” PumpGPT is now available for all Pump’s customers. To learn more and sign up, visit: https://pump.co/pumpgpt About Pump Pump uses group-buying and AI to deliver automated savings of up to 60% on AWS, with no engineering input needed. Pump is absolutely free for anyone to use, and the bigger the collective of customers, the better the savings are for everyone. Pump is backed by YCombinator and has about 200+ companies using them to save over $12M+ this year. For more information please visit https://pump.co/ Contact Details Pump Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://pump.co/

October 05, 2023 08:00 AM Pacific Daylight Time

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ARway Corp CPO Shadnam Khan announces exciting partnership expansions with key agencies

ARway

ARway Corp chief product officer Shadnam Khan shared exciting updates regarding the company's strategic partnerships with Steve Darling from Proactive. These partnerships encompass a range of verticals and are expected to drive significant growth for the company. One notable partnership is with AI Africa, a digital agency and marketing firm specializing in retail and event organization. AI Africa has an impressive client portfolio, including a prominent social media company with a massive monthly engagement of 5 million followers. The partnership with ARway is expected to enhance AI Africa's presence in the events industry, offering opportunities for innovation and growth. Additionally, AI Africa collaborates with a prominent local tourism department and a distinguished property management company that owns and manages 17 malls and shopping centers. Another key partnership is with Vraxa, an international production house specializing in 360 videos and AR/VR/XR solutions. Vraxa serves clients in various sectors, including retail, media, and healthcare, representing a wide range of use cases for ARway's technology. These partnerships signify ARway Corp's commitment to expanding its presence and leveraging its augmented reality technology across diverse industries and applications. Contact Details Proactive Investors Canada +1 604-688-8158 na-editorial@proactiveinvestors.com

October 05, 2023 10:25 AM Eastern Daylight Time

Video

Most Powerful Crypto Miners now Easy To Use

ASICRUN

ASICRUN has recently introduced three energy efficient crypto miners that are helping users maximize their mining profits. These power-packed ASIC miners are capable of mining Bitcoin, Litecoin, and Dash, delivering unmatched performance and ease of use. Most Powerful Miners AR1, AR2, and EliteAR miners from ASICRUN are arguably the most powerful mining rigs ever because of their high hash rates. Many industry experts strongly believe that the hash rates of these mining rigs are unprecedented in the industry. *AR1 Miner: Bitcoin 1050 TH/s, Litecoin/Doge 400 GH/s, Dash 20 TH/s *AR2 Miner: Bitcoin 2200 TH/s, Litecoin/Doge 900 GH/s, Dash 45 TH/s *EliteAR Miner: Bitcoin 4900 TH/s, Litecoin/Doge2200 GH/s, Dash 100 TH/s Energy Efficiency and Profit Maximization Though ASICRUN miners have very high processing power, their energy consumptions are moderate. AR1, AR2, and EliteAR have consumptions of 650 W, 1300 W, and 2800 W, respectively, translating into monthly energy expenditures ranging from $50 to $250 only. This is a key factor behind the high profitability of ASICRUN miners. Mentioned below are the projected monthly profits for AR1, AR2, and EliteAR. Another important advantage of ASICRUN miners is their ease of use. Unlike any other mining hardware designed so far, the rigs from ASICRUN require no prior mining experience or knowledge. This has allowed many common mining enthusiasts to start crypto mining successfully. To maximize mining profits of its customers, ASICRUN covers the delivery and custom fees for them. The products are delivered across the globe within just seven days. The company also provides comprehensive warranty coverage for all hardware and software problems. “High energy cost has always been an obstacle to profitable mining for many. If you are tired of losing your time and hard-earned money on power-hungry mining rigs, ASICRUN is here for you. Whether you are a seasoned mining expert or just a small time enthusiast, you would love using our powerful, user-friendly, and high-profit mining hardware,” said a Matias Kotila, CTO from ASICRUN. ASICRUN delivers its mining rigs worldwide within a delivery time of just 7 working days. The delivery and custom fees are borne entirely by the company. All products come with warranty cover for all software as well as hardware components. To find out more, please visit https://asicrun.com Contact Details David Warner press@asicrun.com

October 05, 2023 10:15 AM Eastern Daylight Time

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Sonus faber choisit la technologie sans fil UWB de SPARK Microsystems pour des enceintes audio domestiques à faible latence

SPARK Microsystems

SPARK Microsystems, une entreprise canadienne de semi-conducteurs spécialisée dans les communications sans fil à courte portée de nouvelle génération, a annoncé aujourd'hui que le fabricant italien de haut-parleurs Sonus faber a choisi la technologie UWB de SPARK pour son système de haut-parleurs sans fil Duetto. La technologie UWB de SPARK permet une transmission de données à faible latence entre les enceintes filaires et les enceintes sans fil, ce qui permet à Sonus faber d'offrir une performance audio non compressée de haute qualité qui ne peut être obtenue avec Bluetooth ou Wi-Fi. Le nouveau système de haut-parleurs Duetto de Sonus faber permet aux clients de profiter de leur système audio domestique Duetto en streaming, le haut-parleur satellite de la paire stéréo étant connecté à l'unité principale à l'aide de la solution SPARK UWB. Le système prend en charge une portée allant jusqu'à 8 mètres pour une flexibilité de placement/positionnement sans compromis en termes de performance audio. Le système, certifié par l'ETSI et la Commission fédérale des communications, permet aux clients de bénéficier d'une connectivité sans fil de haute précision entre les haut-parleurs, maximisant ainsi les options de placement tout en profitant des fonctionnalités et de l'intégration des services musicaux et de la connectivité les plus performants du marché. « Le système de haut-parleurs Duetto de Sonus faber témoigne de l'évolution du marché vers un véritable système audio sans fil qui offre un son de qualité supérieure sans les fils », a déclaré Julie Delamarre, vice-présidente des ventes EMEA de SPARK Microsystems. « Le système de haut-parleurs Duetto est basé sur la technologie UWB de SPARK qui permet un transport de données à faible latence, déterministe, à faible consommation et à haut débit de données, permettant à Sonus faber de fournir un son non compressé à travers des haut-parleurs reliés sans fil - une première dans l'industrie ». L'émetteur-récepteur sans fil SPARK UWB à très faible consommation, faible latence et haut débit offre une nouvelle classe de connectivité sans fil à courte portée pour les applications audio haut de gamme. Offrant des débits de données plus élevés et une meilleure robustesse que les autres solutions sans fil à courte portée - avec une latence extrêmement faible qui ne peut être égalée par Bluetooth ou WiFi - SPARK UWB permet un son non compressé de haute-fidélité pour une expérience audio plus riche et plus immersive. « La technologie UWB de SPARK a été choisie pour le système de haut-parleurs Duetto en raison de ses capacités à délivrer un son non compressé sans fil, sans problème de latence, de variabilité ou de bande passante », déclare Livio Cucuzza, Directeur de la conception, Sonus faber. « Ces capacités offriront à nos clients une expérience supérieure, car ils pourront profiter du son tel qu'il a été conçu à l'origine par les artistes eux-mêmes, avec la flexibilité d'un couplage sans fil entre les haut-parleurs ». À propos de Sonus faber Sonus faber est un concepteur et fabricant de technologies audio haut de gamme, fondé en 1983 dans la région italienne de la Vénétie, mondialement connue pour la fabrication de produits de luxe. En latin, Sonus faber signifie "Artisan du son". L'ingénierie audio de pointe de Sonus faber s'appuie sur les traditions du design italien, en produisant à la main des enceintes dont le design s'inspire d'instruments de musique des derniers siècles, fabriqués à partir de matériaux organiques tels que le bois et le cuir, afin de reproduire le son tel que l'artiste l'a voulu. Alliant la beauté artisanale du passé à la technologie du futur, les systèmes audio Sonus faber offrent un son naturel, immersif et tridimensionnel grâce à de magnifiques enceintes conçues à la main et construites pour durer des décennies. Pour plus d'informations, veuillez consulter Sonusfaber.com. À propos de SPARK Microsystems SPARK Microsystems construit la prochaine génération de dispositifs de communication sans fil à courte portée. SPARK fournit des liens de communication sans fil à haut débit et à très faible latence avec un profil de puissance ultra-faible, ce qui le rend idéal pour les réseaux personnels (PAN) utilisés dans les produits mobiles, grand public et connectés à l’IoT. S’appuyant sur des technologies brevetées, SPARK Microsystems s’efforce de minimiser et, à terme, d’éliminer les fils et les batteries d’un large éventail d’applications. Pour plus d’informations, veuillez consulter sparkmicro.com. Contact Details Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website https://www.sparkmicro.com

October 05, 2023 10:11 AM Eastern Daylight Time

Sonus faber Chooses SPARK Microsystems’ UWB Wireless Tech for Low Latency Home Audio Speakers

SPARK Microsystems

SPARK Microsystems, a Canadian fabless semiconductor company specializing in next-generation short-range wireless communications, today announced Italian speaker manufacturer Sonus faber has chosen SPARK’s UWB technology for its Duetto wireless speaker system. SPARK’s UWB technology enables low latency data transmission from wired to wireless speakers, allowing Sonus faber to deliver a high-quality, uncompressed audio performance that can’t be achieved with Bluetooth or Wi-Fi. Sonus faber’s new Duetto speaker system enables customers to enjoy their Duetto streaming home audio system with the satellite speaker of the stereo pair being connected to the main unit using the SPARK UWB-based solution. The system supports a range up to 8 meters for unfettered placement/positioning flexibility with no compromises in audio performance. The system, certified by ETSI and the Federal Communications Commission, enables customers to enjoy high precision wireless connectivity between speakers, maximizing placement options whilst enjoying market leading functionality and integration of music services and connectivity. “Sonus faber’s Duetto speaker system demonstrates the market’s evolutionary shift to true wireless audio that delivers premium sound without the wires,” said Julie Delamarre, SPARK Microsystems, Vice President of EMEA Sales. “The Duetto speaker system is based on SPARK’s UWB technology that enables low latency, deterministic, low power, and high-speed data transport, allowing Sonus faber to deliver uncompressed audio across wirelessly-linked speakers – an industry first achievement.” The ultra-low power, low latency and high-throughput SPARK UWB wireless transceiver enables a new class of short-range wireless connectivity for premium audio applications. Offering higher data rates and better robustness than other short-range wireless solutions – with extreme low latency that can’t be matched with Bluetooth or WiFi – SPARK UWB enables high fidelity uncompressed audio for a richer, more immersive audio experience. “SPARK’s UWB technology was chosen for the Duetto speaker system because of its capabilities to deliver uncompressed audio wirelessly with no latency, variability or bandwidth concerns,” said Livio Cucuzza, Chief Design Officer, Sonus faber. “These capabilities will give our customers a superior experience because they can enjoy audio as it was originally intended by the artists themselves, with the flexibility of wireless pairing between speakers.” About Sonus faber Sonus faber is a designer and manufacturer of high-end audio technology, founded in 1983 in Italy’s Veneto region, world-renowned for luxury goods manufacturing. Latin for “Artisan of Sound”, Sonus faber expertly informs their state-of-the-art audio engineering with the traditions of Italian design expertise, hand-producing speakers with design cues inspired by centuries of musical instruments, crafted from organic materials such as wood and leather to reproduce sound as the artist intended. Marrying the artisanal beauty of the past with the technology of the future, Sonus faber audio systems deliver natural, immersive, three-dimensional sound from beautiful, hand-designed speakers built to last for decades. For more information, please visit www.sonusfaber.com. About SPARK Microsystems SPARK Microsystems is building next generation short-range wireless communication devices. SPARK provides high data rate and very low latency wireless communication links at an ultra-low power profile, making it ideal for personal area networks (PANs) used in mobile, consumer and IoT-connected products. Leveraging patented technologies, SPARK Microsystems strives to minimize and ultimately eliminate wires and batteries from a wide range of applications while delivering a wired-like performance. For more information, please visit www.sparkmicro.com. Contact Details Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website https://www.sparkmicro.com

October 05, 2023 10:08 AM Eastern Daylight Time

Minuteman Press Franchise Comes to Poundbury and Dorchester, Moves to Brand New Premises

Minuteman Press International Inc

Sprint Digital, Dorchester's leading small business printers, have successfully completed the transition into a Minuteman Press franchise. Owners David and Juanita Prince have relocated from their town centre premises, shared with the Dorchester Post Office, into their own stand alone premises in Poundbury at 13 & 14 Jubilee Court, Paceycombe Way. David Prince said, “With easy access and free parking, the offices just down from the Buttermarket are well placed for access for our clients. We will also continue to deliver to our existing business customers in Dorchester should they need to ensure a seamless transition for our clients.” Operating for over 50 years to serve local business communities, Minuteman Press International has almost 1000 independently owned and operated franchise locations worldwide. The transition from Sprint Digital to Minuteman Press will give small businesses in Dorchester, Poundbury and its surrounds more access to an extremely wide range of print solutions, from business cards and fliers to small signage, branded promotional items and much more. In response to the rebranding, David and Juanita stated, "The move to Minuteman Press will allow our print business to grow offering the businesses of Dorchester, Poundbury and its surrounds a quality affordable print solution. We are also inviting businesses to shop locally knowing that the product is as environmentally sourced as possible and supported by the expertise of world's leading print franchise.” Mark Jones, Regional VP of Minuteman Press International added, "We are excited to be working with David and Juanita, helping them to grow their franchise whilst supporting the local community with all their print requirements." As part of the conversion David Prince has reaffirmed that MMP Dorchester will take over Sprint Digital's sponsorship of the Dorchester Ladies football team into the 2023/24 season and they will continue to support the developers of Dorchesters Bike Park by providing a range of print solutions for their promotional needs. For more information on Minuteman Press in Dorchester and Poundbury, call 01305 264171 or visit their website: https://minuteman.com/uk/locations/england/dorchester/ Minuteman Press provides digital print, design, promotional products and services to businesses. Today they are much more than just print. They can provide anything you can put a name, image or logo on! Minuteman Press International was once again rated the #1 Printing & Marketing Services Franchise in the printing industry by Entrepreneur Magazine in 2023. This is the 32nd time overall and 20th straight year that they have achieved this stellar rating. Learn more about Minuteman Press franchise opportunities and read Minuteman Press franchise reviews at http://minutemanpressfranchise.co.uk Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

October 05, 2023 09:38 AM Eastern Daylight Time

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Tiziana Advances Phase 2 Site Selection for Its Lead Clinical Program in Non-Active Secondary Progressive Multiple Sclerosis (SPMS) and The Company Prepares for Six-Month Clinical Data Update

Benzinga

By Rachael Green, Benzinga Tiziana Life Sciences Ltd. (NASDAQ: TLSA) recently announced the Company has initiated site selection for its lead intranasal anti-CD3 monoclonal antibody drug candidate “foralumab” program entering Phase 2a clinical testing in non-active Secondary Progressive Multiple Sclerosis (na-SPMS) patients. In total, the multi-center clinical trial will have six to ten new clinical trial sites across the US. According to the Company, another key data milestone is expected soon at the ECTRIMS conference, which will detail the results from the expanded access program after six months of treatment. Investors should take note, as this is a significant event for the company through providing six-month clinical results on the second cohort of four patients (numbers 3-6), and also providing a PET scan which shows neuroinflammation in the brain (microglia). ECTRIMS is the world’s largest research meeting in multiple sclerosis and will be held October 11-13 in Milan, Italy. Tiziana also recently announced the acceptance of a publication in the prestigious journal Proceedings of the National Academy of Sciences (PNAS) of its study validating the mechanism of action (MoA) using intranasally administered foralumab in Alzheimer’s disease (AD). The published study concluded that “nasal anti-CD3 has the potential to be a non-toxic novel immunotherapeutic approach for the treatment of Alzheimer’s disease (AD)”, which further supports the Company’s hypothesis for the use of foralumab in neurodegenerative disease. Key highlights from the Journal included: The authors conclude that “nasal anti-CD3 has the potential to be a non-toxic novel immunotherapeutic approach for the treatment of Alzheimer’s disease (AD)” FDA has cleared the IND for intranasal foralumab, a fully human anti-CD3 monoclonal antibody, for human study in mild to moderate Alzheimer’s Disease The publication shows anti-CD3 monoclonal antibody (mAb) administered intranasally, ameliorates disease in a 3xTg model of Alzheimer’s disease by targeting microglial activation in the brain, while expanding regulatory T cells in the periphery Remarkably, this reduced microglial activation and improved cognition occurs independent of amyloid beta disposition. The full publication can be found HERE Tiziana’s Foralumab Is A Promising Treatment With Potential To Treat Multiple Neurological Diseases “The anti-CD3 target is established and it’s validated,” said Tiziana COO and CMO Mathew Davis at a recent conference. “We are the only company that is delivering this intranasally. We are the only company that is in the clinic with a fully human anti-CD3 antibody.” The anti-CD3 monoclonal antibody used in Tiziana’s Foralumab binds to the CD3 receptor on the surface of T cells, typically used as a way to suppress the immune system to prevent transplant rejection or treat autoimmune disease. The challenge in treating these kinds of conditions has long been finding the balance between suppressing the immune response to protect the patient without harming the body’s ability to fight off actual threats like viral infections and bacteria. However, research shows that anti-CD3 antibodies can do just that. They are able to selectively dampen the autoimmune response – when the dysregulated immune system attacks the body’s own cells and tissue – without limiting its ability to detect and respond to external threats. The promising new treatment approach has already sparked interest from pharmaceutical industry leaders like Sanofi SA (NASDAQ: SNY), which just acquired an anti-CD3 therapy being developed for type 1 diabetes in a $2.9 billion acquisition of Provention Bio, Inc. Tiziana’s Foralumab is the only anti-CD3 monoclonal antibody treatment in clinical trials that is fully human — a significant differentiator as these tend to come with fewer adverse reactions than those that are genetically engineered. It’s also the only one that’s delivered via an intranasal spray, making it less invasive than an infusion and allowing it to travel directly to the T cells in the patient’s lymph nodes. In the neurological diseases that Tiziana is focused on, this formulation has allowed its lead drug candidate to bind to regulatory T cells, then these T cells activate and create Tregs which are specifically tasked with maintaining homeostasis and preventing the immune system from attacking itself. Once Foralumab creates these Tregs, they can cross through the blood-brain barrier and help fight neuroinflammation at its source. Tiziana Highlights Past Results And Upcoming Milestones Across Foralumab Clinical Trials During a recent investor conference, Davis focused on the exciting results Tiziana has seen so far from its clinical trials and highlighted some of the upcoming milestones and plans for the year ahead. Its lead program is in non-active secondary progressive multiple sclerosis (SPMS), a more severe stage of the debilitating disease that currently has no FDA-approved treatment. Instead, the standard of care typically involves treating the patient with Ocrelizumab, an anti-CD20 monoclonal antibody sold under the brand name Ocrevus by Genentech, a subsidiary of Hoffmann-La Roche AG (OTCQX: RHHBY). But the drug is not always as effective for SPMS patients as it is for other forms of MS. In fact, Davis noted that all of the patients in its clinical trials had previously tried Ocrelizumab and discontinued it when their symptoms continued to progress. In its ongoing expanded access program, for example, the Tiziana COO and CMO spoke about a patient who had discontinued the anti-CD20 treatment in 2021 when his condition had become so bad that he could no longer walk more than 100 feet without assistance. The non-active SPMS patient enrolled in Tiziana’s expanded access program in January 2022. “By the end of 2022, he was able to walk without assistance,” Davis said. “He’s back in his job and, as of this recording, he continues to walk without assistance.” In the biopharma’s most recent data readout, other patients from the expanded access program started to show similar improvement. Three of the four patients currently enrolled saw their fatigue scores decrease after three months. Meanwhile, a phase 1 trial found that microglia – a part of the innate immune system inside the brain – had significantly decreased activation in the brains of 5 out of 6 treated patients after three months. Davis said another data readout is expected soon, detailing the results from the expanded access program after six months of treatment. Tiziana has begun clinical site selection and plans to start a phase 2a trial in non-active SPMS before the end of this year with topline data expected by the end of 2024. The clinical-stage biopharma is also investigating Foralumab for Alzheimer’s disease (AD), another progressive neurological disease with an urgent need for better treatment options. Tiziana just received FDA approval to begin a phase 2 study in AD, and the company plans to launch that trial in the first half of next year. A press release on the acceptance from the Proceedings of the National Academy of Sciences (PNAS) can be found HERE along with the full publication HERE titled “Nasal Administration of anti-CD3 monoclonal antibody (mAb) ameliorates disease in a mouse model of Alzheimer’s disease”. To learn more about Tiziana, click HERE This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

October 05, 2023 09:15 AM Eastern Daylight Time

Interactive Strength Works To Sign Binding Acquisition Agreement That Would Transform The Digital Fitness Company Into A Profitable, High-Growth Business Across B2B and B2C Markets

Benzinga

By Rachael Green, Benzinga Interactive Strength, Inc. (NASDAQ: TRNR), doing business as FORME, is currently working towards signing a definitive agreement to acquire a connected hardware “target” after announcing a non-binding letter of intent last month. The combined Company is projected to generate $10 million in 2023, more than $25 million in gross revenue in 2024, and is expected to be cashflow positive and adjusted EBITDA profitable by the fourth quarter of 2024. The potential transaction is expected to accelerate FORME’s commercialization path, result in immediate scale across all functions and create a high-growth and profitable platform that sells connected hardware/software fitness platform across B2B and B2C channels. The premium smart home gym and virtual personal training provider is aiming to execute a definitive acquisition agreement by the fourth quarter of this year. Here are some of the growth opportunities investors can look for as FORME works toward a binding agreement by the end of this year. The Potential Acquisition Would Create A Significantly Scaled Up Connected Fitness Equipment Business “We believe this will be a transformational acquisition that can accelerate our commercialization path,” said FORME Founder and CEO Trent Ward. “We expect this transaction can help us achieve immediate scale across all of our cost centers, resulting in a high-growth, profitable platform that sells connected fitness equipment and digital fitness services across B2B and B2C channels.” In addition to scaling FORME’s sales, engineering, logistics and other functions, the connected fitness acquisition would be a synergistic merger that would immediately create cross-selling opportunities across both FORME’s and the target’s customer base. It also has the potential to bring in a strong B2B distribution partner for FORME’s premium smart home gym equipment, allowing FORME to ramp up its commercialization efforts. Combined, FORME and the target acquisition are projected to bring in over $10 million in gross revenue for 2023 and over $25 million in for 2024, achieving both positive cash flow and positive adjusted EBITDA by the fourth quarter of next year. The Upside Potential Of FORME’s Transition To A B2B-Led Platform Right now, FORME primarily targets the B2C market, offering smart home gym equipment and a variety of virtual personal training plans directly to consumers. But as the rapid decline of Peloton (NASDAQ: PTON) suggests, that home fitness market just isn’t big enough to sustain long-term growth as post-pandemic consumers return to the gym. Peloton recently reported net losses of over $241 million for its fourth quarter, as sales and subscriptions continue to decline. FORME has a differentiated market strategy that addresses changing consumer habits and developed a flexible approach to its B2C segment. The Company offers both premium equipment and a range of monthly subscription options at different price points that offer live one-on-one coaching with a personal trainer through the user’s connected fitness mirror or their mobile device. But its biggest growth opportunity comes from its pivot into the B2B space, delivering its equipment and services to hotels, gyms and other enterprise customers that want to offer premium fitness options to their customers. FORME has already made some moves in this B2B channel but the potential acquisition, which is said to derive most of its sales from the B2B space, would dramatically increase its exposure to that more profitable, more scalable market. This would allow FORME to become a B2B-led platform while still maintaining and growing its B2C channel, potentially sidestepping the profitability challenges faced by Peloton and other B2C-focused companies in the connected fitness space. In an August report on FORME, Goldman Small Cap Research calls the digital fitness platform “a rare, high growth, low valuation firm offering significant upside potential.” Goldman cited the potential acquisition slated for the fourth quarter as well as the opportunity for similar deals in the future as FORME targets other acquisitions over the next few years. To watch a video with the product in action, CLICK HERE This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

October 05, 2023 09:15 AM Eastern Daylight Time

ToolsGroup Announces New User Interface for Enhanced User Experience and Supply Chain Performance

ToolsGroup

ToolsGroup, a global leader in retail and supply chain planning and optimization software, is announcing the launch of a dramatically improved user experience for its industry-leading Service Optimizer 99+ (SO99+) supply chain planning solution. SO99+ release 8.62 introduces a sleek and modern interface, incorporating the latest UI/UX design principles. This reflects ToolsGroup’s continued commitment to creating products that are intuitive and user-friendly, leading to greater adoption and improved business performance. With a clean, sophisticated interface and feature enhancements, SO99+ aligns the latest software design trends with user requirements to elevate the user experience. While familiar favorite capabilities remain – including personalized dashboards and custom alerts – ToolsGroup has also added important new capabilities to SO99+ in this release, such as enhanced seasonality clustering and aggregate forecasting functions. The latest enhancements make it easier than ever for companies to leverage machine learning, streamline processes, and maximize efficiency, empowering teams to make better, faster planning and execution decisions. “At ToolsGroup, we pride ourselves on our close collaboration with our customers, gathering their input to continuously improve our product so that we can empower users to navigate the supply chain,” said Sahil Gupta, Chief Product Officer. “This refresh of our user interface is the result of deep conversations with the people who work closely with our software to plan on a day-to-day basis and the latest trends in modern web design. Ultimately, our goal is to deliver AI-powered supply chain solutions that are easy to use – as this is how modern users are best able to drive business results.” “Our customers rely on SO99+ every day to drive the supply chain decisions that power enhanced business performance and customer experience. We have been eagerly anticipating the new user interface and look forward to imminently implementing a wealth of enhanced capability,” said James Triggs, Managing Director at Brookes Supply Chain Solutions. “We’re thrilled to collaborate with such a dynamic and technologically innovative supply chain technology partner that we have in ToolsGroup.” Watch ToolsGroup’s new SO99+ product video for a first look at the enhanced interface HERE. About ToolsGroup ToolsGroup’s innovative AI-powered solutions enable retailers, distributors, and manufacturers to navigate through supply chain uncertainty. Our retail and supply chain planning suites empower a new level of intelligent decision making and unlock powerful business improvements in forecast accuracy, service levels, and inventory - delighting customers and achieving financial and ESG KPIs. Stay in touch with ToolsGroup on LinkedIn, Twitter, YouTube, or visit www.toolsgroup.com. Contact Details Meir Kahtan +1 917-864-0800 mkahtan@rcn.com Company Website https://www.toolsgroup.com

October 05, 2023 09:00 AM Eastern Daylight Time

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