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BioHarvest Sciences Reports Robust Q1 2024 Financial Growth and Strategic Expansion Plans

BioHarvest Sciences Inc

BioHarvest Sciences CEO Ilan Sobel joined Steve Darling from Proactive to share the company's financial and operational results for the first quarter of 2024. The company reported significant revenue growth in Q1 2024, with revenues increasing by 147% to $5.34 million, compared to $2.2 million in the same period of the previous financial year. This also represents an 18% increase from the preceding Q4 2023. Previous guidance for Q1 2024 was $5.2-5.3 million. This impressive performance was driven by continued strong sales of VINIA®, which fueled revenue growth in the Products division. Sobel highlighted that gross margins in Q1 2024 improved to 56%, compared to 37% in the same period of the prior financial year. In the U.S., total subscribers increased by 122%, while marketing and sales expenditures rose by only 39% compared to the same period in the previous year. This indicates a highly efficient growth strategy that has maximized subscriber acquisition without a proportional increase in spending. Management has set optimistic expectations for Q2 2024, projecting revenues in the range of $5.7 to $6.0 million. The company also anticipates reaching EBITDA break-even in the second half of 2024. This financial milestone is expected to be supported by the launch of a new Contract Development and Manufacturing Organization (CDMO) business unit. This unit has already signed two significant contracts: one to develop patentable, plant-based molecules for a Nasdaq-listed pharmaceutical company, and another for a leader in the nutrition and ingredients industry. Furthermore, BioHarvest Sciences is on track to uplist to the Nasdaq exchange in the second half of 2024. This strategic move is expected to enhance the company's visibility and attract a broader base of investors, providing further growth opportunities. Sobel expressed confidence in the company's direction and highlighted the importance of the new CDMO unit in diversifying BioHarvest Sciences' revenue streams. The development of plant-based molecules aligns with the company's commitment to innovation and sustainability, positioning it at the forefront of the biotech industry. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

May 31, 2024 08:19 AM Eastern Daylight Time

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The Crucial Role of Gut Health Transforming Gut Health through Nutrition

YourUpdateTV

Is your diet supporting your gut health effectively? Recently, Registered Dietician and MyFitnessPal Scientific Advisory Council member, Maya Feller, conducted a satellite media tour to explain better eating habits that support gut health to enhance your focus, energy, mood, sleep, and weight. A video accompanying this announcement is available at: https://youtu.be/rjznUQsEet0 According to a recent MyFitnessPal survey 1 86% of people say they’re aware of the importance of maintaining gut health and 43% actively seek out gut health-related information. However, only 18% consider themselves to be “very” knowledgeable about what contributes to gut health. In response, the no. 1 global nutrition and food tracking app, MyFitnessPal collaborated with MyFitnessPal Scientific Advisory Council Member Dr. Janese Laster, to create the Gut Health Nutrition Plan, available now to all members for free in the MyFitnessPal app. Those who opt into the week-long plan will have access to nutrition ideas and suggestions, quizzes that test knowledge and assess current eating habits, and daily check-ins that encourage reflection on progress and current knowledge to help enable behavior change and fuel motivations. MyFitnessPal’s survey found that despite 85% of people trying to incorporate a variety of fruits and vegetables into their diet to improve gut health, only 2% are consuming more than 20 fruits and vegetables each week. To bring even more awareness to a person’s food intake, MyFitnessPal introduced a free feature, Food Group Insights, which gives members an overview of the number of foods they logged in a week categorized by food groups. And for those wondering how to get gut-healthy foods on their plate, MyFitnessPal introduced a new gut health recipe collection featuring high-fiber recipes that include a variety of fruits and vegetables. To learn more, download the MyFitnessPal app on iOS and Android or visit MYFITNESSPAL.COM About Maya Feller Maya Feller, MS, RD, CDN is the founder and lead dietitian at Maya Feller Nutrition. In her practice, her team provides medical nutrition therapy and nutrition coaching for cardiovascular disease, diabetes, mood disorders, developmental disabilities, disordered eating, and more. Maya believes in providing inclusive nutrition education from an anti-bias patient-centered, culturally humble approach to help people make informed food choices. Maya shares her approachable, food-based solutions with millions of people through regular speaking engagements, writing, her social platforms, and as a national nutrition expert on Good Morning America, is a Healthline Medical Advisor, and on the advisory board for SHAPE and Parents, as well as appearing on TODAY Show, Tamron Hall, and in The New York Times, mindbodygreen, Well+Good, Food Network, Martha Stewart, Real Simple, Good Housekeeping, Cooking Light, Eating Well, Prevention, Glamour, SELF, and more. She is the author of Eating from Our Roots: 80+ Healthy Home-Cooked Favorites from Cultures Around the World (goop Press, January 24, 2023). About MyFitnessPal MyFitnessPal is the #1 global nutrition and food tracking app for achieving health goals, especially weight management. Since 2005, MyFitnessPal has empowered over 200 million users in over 120 countries to improve their health by tracking their food, recording exercise activity, and logging their weight. As one of the world's most trusted resources on nutrition, MyFitnessPal's mission is to help people around the world reach their health goals through better food choices by providing knowledge, motivation and a sense of progress. With one of the largest food databases in the world comprising over 19 million foods, access to over 500 recipes, more than 50 workout routines and exercise demos, and over 40 connected fitness partners, MyFitnessPal provides users with tools for positive healthy change. The MyFitnessPal app is available on the App Store and Google Play store. To learn more, visit www.myfitnesspal.com or follow MyFitnessPal on Facebook, Instagram, LinkedIn, TikTok and Twitter. ----------------------------------------------------------------------------------------------------------------------- 1 Survey fielded in April 2024 with 4000 people across the United States, Canada, United Kingdom, and Australia. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

May 30, 2024 11:34 AM Eastern Daylight Time

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Immunic Inc. CEO Daniel Vitt Highlights Advances in MS Treatment on World MS Day

Immunic Inc

Immunic Inc CEO Daniel Vitt joined Steve Darling from Proactive to discuss the ongoing challenges and recent developments in treating multiple sclerosis (MS). This interview took place in conjunction with World MS Day, a day dedicated to raising global awareness about this debilitating disease. Vitt emphasized the significant unmet medical need for effective treatments, noting that MS affects approximately 2.8 million people worldwide. The disease often leads to progressive physical disability, with many patients eventually requiring wheelchairs for mobility. Vitt explained that early diagnosis is crucial for MS, as it allows for more timely and effective intervention, which can significantly slow the progression of the disease. He highlighted Immunic’s innovative approach to MS treatment, which targets both inflammation and neuroprotection. This strategy is designed to address the complex nature of MS, which involves both inflammatory and neurodegenerative processes. Immunic’s lead drug candidate, vidofludimus calcium, is currently in clinical development for both relapsing and progressive forms of MS. Vidofludimus calcium works by activating a protein called Nurr1, which provides direct neuroprotective effects in addition to its anti-inflammatory benefits via DHODH inhibition. This dual mechanism of action makes it a promising candidate for comprehensive MS treatment. The drug is currently undergoing a phase 3 clinical trials for relapsing MS, with results expected in 2026. Additionally, a phase 2 clinical trial for progressive MS is underway, with results anticipated in April 2025. These trials aim to further validate the safety and efficacy of vidofludimus calcium in addressing the diverse and challenging aspects of MS. Vitt expressed optimism about the potential of vidofludimus calcium to transform MS treatment. He cited the drug’s safety profile and its demonstrated efficacy in clinical trials as key factors contributing to this potential. If successful, vidofludimus calcium could become a critical tool in the fight against MS, offering hope to millions of patients worldwide. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

May 30, 2024 07:03 AM Eastern Daylight Time

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CURE ALZHEIMER’S FUND PRESENTS THE JEFFREY L. MORBY PRIZE FOR EXCEPTIONAL RESEARCH

Alzheimer’s Disease Research Foundation

Cure Alzheimer’s Fund, a nonprofit dedicated to funding the most promising research to prevent, slow or reverse Alzheimer’s disease, has announced the recipients of the inaugural Jeffrey L. Morby Prize. Senior author David M. Holtzman, M.D., and first author Xiaoying Chen, Ph.D., both of Washington University School of Medicine in St. Louis, were selected by their peers for their paper “Microglia-Mediated T Cell Infiltration Drives Neurodegeneration in Tauopathy,” published in Nature in March 2023. The Morby Prize is named in honor of the late Co-Founder of Cure Alzheimer’s Fund, Jeffrey L. Morby, who inspired the nonprofit’s mission 20 years ago to fund research as a path to ending Alzheimer’s disease. Mr. Morby passed away in September 2023. Established this year, the Morby prize will be awarded annually to the senior and first authors of a recent scientific publication that transforms the fundamental understanding of Alzheimer’s disease and opens new paths to translate scientific results into effective ways to prevent, diagnose or treat the disease. This year’s award included $200,000 for the senior author’s lab for Alzheimer’s disease-related research. “Recognizing researchers for a paper selected by peer scientists for breakthrough thinking and benefit to the Alzheimer’s community befits Jeff’s wonderful legacy of empowering scientists to achieve rigorous and innovative science,” said Meg Smith, CEO of Cure Alzheimer’s Fund. “The many extraordinary CureAlz-funded projects that resulted in published papers in 2022 and 2023 made the competition for this award fierce, and the endorsement of this paper by their peers speaks to the importance of the work of Drs. Holtzman and Chen and their co-authors. Their compelling data challenge the old paradigm that the adaptive immune system has little role in neurodegenerative disease, and by doing so opens new avenues to explore for effective intervention in Alzheimer’s disease.” Added Dr. Holtzman: ”Both Xiaoying Chen and I and our many outstanding co-authors are very honored to receive recognition for the work in our recently published paper. There remain many unanswered questions about the exact role of the adaptive immune response in the pathogenesis of Alzheimer’s disease. I think this work along with work from others in the field is pushing us to understand how important adaptive immunity is in Alzheimer’s disease and other tauopathies, as well as whether targeting it will ultimately be therapeutically beneficial to people.” About The Holtzman Lab David M. Holtzman, Ph.D. is a neurologist and neuroscientist who has focused much of his efforts over the past 30 years on trying to better understand mechanisms underlying neurodegeneration, particularly as they are relevant to Alzheimer’s disease (AD). Xiaoying Chen, Ph.D., was a postdoc research associate in the Holtzman Lab and is first author of the winning paper. The Holtzman Lab at Washington University School of Medicine in St. Louis has published extensively on the neurobiology of apoE as it relates to the innate immune system and how apoE and other factors such as neuronal activity and sleep influence Aβ and tau metabolism, their accumulation, and their effects in the brain. For more information, visit HoltzmanLab.Wustl.edu. About Cure Alzheimer's Fund Cure Alzheimer’s Fund is a nonprofit dedicated to funding the most promising research to prevent, slow or reverse Alzheimer’s disease. Since its founding in 2004, Cure Alzheimer’s Fund has provided 848 grants to more than 300 of the world’s leading researchers and contributed $202 million to research. Its funded initiatives have been responsible for many key breakthroughs in understanding the causes and pathology of Alzheimer’s disease. Cure Alzheimer’s Fund has received a 4-star rating for more than 12 consecutive years from Charity Navigator. Our Board of Directors, Trustees and a core group of other donors direct their donations to CureAlz overhead expenses so that 100% of general donations go to our research program. For more information, visit CureAlz.org. To learn about the impact of Alzheimer’s on women and women working toward a cure, visit WomenandAlzheimers.org. Contact Details Barbara Chambers +1 978-417-9890 BChambers@CureAlz.org Company Website https://curealz.org

May 30, 2024 06:00 AM Eastern Daylight Time

Nevis Brands Expands Major Brand with Launch of Gummies in Washington State

Nevis Brands

Nevis Brands CEO John Kueber joined Steve Darling from Proactive to announce the exciting expansion of the Major brand from beverages to gummies. Major Gummies will be offered in 100mg packages, containing ten 10mg gummies per package. Notably, these gummies are the only ones in the Washington market to utilize SoRSE emulsion, the same innovative ingredient used in Major beverages, which allows for improved taste and rapid onset. The flavors of Major Gummies will be consistent with the beverage line and will initially be available in Orange Mango and Blue Raspberry. Kueber explained that Nevis' licensee for Major in Washington State has completed its initial round of production, with initial sales set to begin in the first week of June. This timely launch positions Major Gummies to make a significant impact on Q3 financial results. According to the Imarc Group, a research firm, the cannabis edibles market is estimated to be approximately $3.4 billion, indicating substantial market potential for Major Gummies. The introduction of gummies represents a strategic expansion for the Major brand, leveraging the success and consumer trust built through its beverage line. The use of SoRSE emulsion ensures that the gummies will deliver a consistent, high-quality experience with a rapid onset, a key differentiator in the competitive cannabis edibles market. Kueber emphasized that the new product aligns with Nevis Brands' commitment to innovation and quality. By maintaining the flavor profiles and effective delivery system that customers expect from Major beverages, the company aims to capture a significant share of the growing edibles market. The initial focus on Orange Mango and Blue Raspberry flavors highlights the brand's strategy to offer familiar and popular tastes to its consumers. Looking ahead, Nevis Brands plans to expand the distribution of Major Gummies beyond Washington State, exploring opportunities in other markets to further enhance its footprint in the cannabis industry. The successful launch and anticipated positive reception of Major Gummies could pave the way for additional product lines and continued growth. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

May 29, 2024 12:25 PM Eastern Daylight Time

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PathAI Expands Portfolio of AI-Powered Products, Announcing PathExplore™ IOP and IHC Explore™ Ahead of ASCO 2024

PathAI

PathAI, a global leader in AI-powered pathology, unveiled two novel AI products, PathExplore™ Immuno-Oncology Profiling (IOP) and IHC Explore 1 ™ to empower cancer drug developers and clinical researchers with AI-powered insights. The product pairing provides unprecedented single-cell and spatial resolution of the tumor microenvironment from routine pathology samples to facilitate biomarker discovery and deeper understanding of treatment response for the next generation of cancer therapeutics. The expansion of the Explore™ portfolio comes at a time when AI-pathology is experiencing accelerated large-scale adoption across the diagnostic and biopharma industries. “As cancer rates continue to rise, the demand for advanced precision medicine tools that provide accurate biological insights has never been greater. Our mission to make a difference in patient lives is unwavering, and these new products showcase our commitment to providing researchers with the tools they need to make meaningful advancements in cancer research, treatment and care,” said Andy Beck, PathAI CEO. “We're thrilled to introduce these two groundbreaking products ahead of the American Society of Clinical Oncology annual meeting.” PathExplore IOP: H&E-Based Immune Phenotyping The composition of the tumor immune microenvironment plays a crucial role in characterizing tumors likely to respond to immunotherapy. PathExplore IOP expedites characterization of immune phenotypes by quantifying tumor infiltrating lymphocytes (TILs) and their spatial distribution using routine hematoxylin and eosin (H&E) samples. With this new product, researchers have the ability to quantify TIL spatial arrangements within tumor core and periphery, and gain insights around the sample’s immune inflamed, desert, or excluded characteristics. PathExplore IOP was designed specifically to quantify patterns of immune infiltration characteristic of a strong immune response, and ultimately improved patient survival. Immune infiltration has been previously shown to be prognostic of positive outcomes, however; standardized and scalable approaches for investigating these phenotypes remained elusive. “PathExplore IOP illustrates the power of AI by visually interrogating the dynamics between cancer cells and immune cells with unparalleled resolution for highly accurate and efficient immune phenotype classification,” said Benjamin Glass, VP of Product & Translational Research. “Researchers can now access insights at scale to better inform biomarker strategies for patient stratification and mechanisms of response and resistance.” PathExplore IOP will be featured in a poster presentation at the upcoming ASCO 2024 meeting, demonstrating the product’s application for stratification of patient response to checkpoint inhibitors in non-small cell lung cancer. IHC Explore™: AI-Powered Biomarker Quantification Immunohistochemistry (IHC) is a widely utilized approach for identifying biomarkers unique to certain cancers, informing treatment strategies, measuring prognosis, and patient classification for clinical trials. IHC scoring in the early clinical settings can be time-consuming, subjective, and low-resolution. Especially in early stage biomarker development, defining an optimal scoring system for a novel IHC assay can be complex. IHC Explore™ fills a need for spatial quantification of IHC biomarkers in single-cell resolution with broad target compatibility. IHC Explore provides a panel of standardized and structured features that quantify IHC stain abundance within and around cells of the tumor microenvironment, enabling drug developers to build biomarker scoring strategies from scratch for most IHC stains – and to precisely find those patients most responsive to treatment. PathAI’s partnership with Roche streamlines the translation of these AI insights and scoring strategies into companion diagnostic development. “Drawing on our advanced computational pathology expertise, we're extending the impact of our Explore product suite, which enables us to seamlessly support AI-powered assay development,” said Hisani Madison, VP of Precision Medicine and Medical Device Development. “This advancement is poised to revolutionize biomarker-based drug development for new immunotherapies, antibody drug conjugates, and paving the way for the analysis of the next generation of targeted cancer therapies.” Accepted Abstracts at ASCO 2024 PathAI will be attending and presenting abstracts at the upcoming ASCO event in Chicago, IL. Visit PathAI’s booth in the Innovation Hub (IH18) May 31- June 4, 2024 to meet our team, learn more about AI-powered pathology, and engage with our scientists and collaborators at their respective posters. Footnotes 1 PathExplore™ IOP and IHC Explore™ are for research use only. Not for use in diagnostic procedures. About PathAI PathAI is the leading precision pathology company providing software and AI-enabled solutions to all pathologist stakeholders including laboratories, research institutions, and the biopharma industry. Developed with the input of hundreds of pathologists, PathAI’s digital pathology Image Management System, AISight, is the solution of choice for laboratories transitioning to digital workflows. Rigorously trained and validated with data from more than 15 million annotations, its AI-powered models can be leveraged to optimize the analysis of pathology samples to improve efficiency and accuracy of pathology interpretation, as well as to better gauge therapeutic efficacy and accelerate drug development for complex diseases. For more information, please visit www.pathai.com. Contact Details SVM Public Relations and Marketing Communications Maggie Naples +1 401-490-9700 pathai@svmpr.com Company Website https://www.pathai.com/

May 29, 2024 10:00 AM Eastern Daylight Time

Oncotelic Therapeutics (OTC: OTLC) Inks Deal With Mosaic ImmunoEngineering To Sell Clinical-Stage Necroptosis Cancer Therapy Assets

Benzinga

By Faith Ashmore, Benzinga The global retinoblastoma treatment market size was estimated to be $2.62 billion in 2023 and is expected to reach $4.20 billion by 2034 with a CAGR of 4.38% over 2024-2034. Rising incidence of retinoblastoma, early diagnosis and treatment, increasing healthcare expenditure, growing awareness of retinoblastoma treatment options, development of new treatments and government initiatives will drive the market’s growth. Recently, the FDA granted accelerated approval to Iovance Biotherapeutics’ (NASDAQ: IOVA) lifileucel (Amtagvi) to treat inoperable or metastatic melanoma, making it the first and only one-time tumor-infiltrating lymphocyte (TIL) therapy to be greenlighted for solid tumors. Lifileucel is manufactured by collecting and expanding a patient’s unique T cells from part of their tumor and then infusing them into that patient to fight the cancer. Oncotelic Therapeutics (OTCQB: OTLC) is looking to develop similar treatment therapies for ocular cancers, including retinoblastoma and uveal melanoma. The technology is named necroptosis therapies. Oncotelic and Mosaic ImmunoEngineering, Inc. (OTC: CPMV) are developers of necroptosis therapies. The recent approval of TIL cell therapy demonstrates how to manipulate patient immunity against cancer for a lasting cure. However, TIL cell therapy is costly, time-consuming and technologically challenging. Instead of driving TIL cells externally, Necroptosis Cancer Therapies drive innate TILs to the tumor. The key step is the induction of necrotic cell death and activation of death genes, exposing tumor-reactive antigens to initiate an immune response, activating antigen-presenting cells to achieve large-scale antigen presentation, activating T-cells, inducing strong and sustained cytotoxic T lymphocyte responses, and ultimately triggering a TIL antitumor immune effect. Necroptosis Cancer Therapies can use vascular disrupting agents (“VDA”), in combination with CheckPoint Inhibitors and other IO agents to drive TIL cells to the tumor. Oncotelic Therapeutics recently announced a binding term-sheet agreement with Mosaic ImmunoEngineering. Under this arrangement, Mosaic will acquire the rights to Oncotelic's clinical-stage necroptosis cancer therapies. These innovative therapeutics disrupt tumor blood flow, leading to immunogenic tumor cell death through the activation of "death receptors" – ultimately triggering a potent anti-cancer immune response. As part of the deal, Mosaic will also gain access to Oncotelic's AI technologies for identifying immunotherapy combinations. "We are very pleased to have this opportunity to bring these clinical stage assets that have promise for the treatment of multiple types of cancer into Mosaic. We anticipate that the initial application of the technology will be in areas with high unmet medical need such as uveal melanoma and retinoblastoma. We look forward to working with the Oncotelic team to advance the program," said Steven King, President and CEO of Mosaic. As outlined in the binding term sheet, Mosaic will issue $15 million in CPMV shares to Oncotelic upon the execution of the definitive purchase agreement. Additional milestones will enable Oncotelic to earn up to an extra $15 million in CPMV shares. The experienced Mosaic team, with a collective background encompassing more than 30 FDA and worldwide product approvals, will spearhead the advancement of these technologies. Both companies will collaborate closely to ensure the smooth transfer of technologies from Oncotelic to Mosaic, with Oncotelic providing short-term financial support for the program while working together toward achieving short-term and long-term financing goals. "This will be the second transaction for capitalizing on our assets and building shareholder value. The first being the successful transition of OT-101 to our joint venture (“JV”) with Dragon Capital Overseas, Limited. The JV is expected to list for an IPO and has been expanding its R&D including the completion of its research and manufacturing facility headquartered in San Diego, California." shared Dr. Vuong Trieu, CEO of Oncotelic. Pipeline – What More To Expect From Oncotelic Oncotelic has multiple drugs in its pipeline, such as ArtiVeda/ArtiShield, a COVID drug that aims to inhibit the spread of the virus; OT-101 for the treatment of solid tumors with a focus on brain cancer in adults and diffuse intrinsic pontine glioma in children; CA4P, which is intended to be used with Ipilimumab for the treatment of solid tumors with focus on melanoma; Oxi4503 for the treatment of liquid tumors with focus on childhood leukemia; and AL-101, an intranasal drug for the treatment of Parkinson Disease that also targets Erectile Dysfunction and Female Sexual Dysfunction. Oncotelic is looking to develop these drugs using a similar JV structure, which should enhance shareholder values. With an encouraging recent announcement and an extensive pipeline, Oncotelic may be a company to watch as it continues its endeavors to provide patients with more efficient treatments – with fewer side effects. Featured photo by Olga Kononenko on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. 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

May 29, 2024 08:30 AM Eastern Daylight Time

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Classiq collaborates with Hewlett Packard Enterprise on Hybrid Quantum Simulation

Classiq Technologies

Classiq, a leading quantum software company, announced it has developed a rapid method for solving large-scale combinatorial optimization problems in collaboration with Hewlett Packard Labs, the central research community of Hewlett Packard Enterprise (HPE), the result of joint research on the integration of high performance computing (HPC) and quantum computing. The rising level of maturity on the diverse approaches to quantum computation is now raising questions about how to productively integrate leading edge quantum and classical HPC approaches to solve important problems to the top of the research agenda. As the demand for sophisticated computational solutions increases, the integration between HPC and quantum computing is becoming crucial. From scheduling and orchestration to hybrid computation, these two approaches are converging, creating opportunities for innovative solutions to complex problems. This collaboration between Classiq and Hewlett Packard Labs exemplifies the potential of combining state-of-the-art classical and quantum algorithms to achieve superior results The hybrid approach uses the HPE Cray Supercomputing EX system and the massive parallel execution efficiency of HPE Cray Programming Environment for high performance computing along with the Classiq synthesis engine's ability to synthesize Quantum Approximate Optimization Algorithm (QAOA) circuits to achieve noteworthy results. This solution encapsulates smaller problems to formulate an optimal approach for large-scale challenges. By merging classical and quantum algorithms, this method demonstrates a significant improvement in solving real-world problems efficiently and how to make the potential advantages of quantum acceleration readily available in the HPC data center. The work will be showcased in the paper titled “Hybrid Classical-Quantum Simulation of MaxCut using QAOA-in-QAOA,” to be presented on the 31st May at the Q-Casa workshop at the IEEE IPDPS Conference in San Francisco. “This collaboration is a testament to the power of combining cutting-edge quantum and classical computing technologies. We are incredibly proud of the work we have done together, which not only showcases the potential of hybrid computation but also demonstrates tangible efficiency improvements,” said Nir Minerbi, CEO of Classiq. “The findings in this paper are a significant step forward in accelerating the integration of quantum computing into mainstream applications.” Integration of the Classiq engine as backend to Hewlett Packard Labs quantum programming environment will enable abstract, optimized and scalable quantum/HPC software development. By continuing to innovate and develop new solutions, both companies aim to drive the accelerated integration of these key computational technologies, paving the way for future advancements in various industries. HPE’s venture capital program, Hewlett Packard Pathfinder, made a 2022 investment in Classiq. About Classiq Classiq Technologies, the leading quantum software company, provides an all-encompassing platform (IDE, compiler and OS) with a single point of entry into quantum computing, taking you from algorithm design to execution. The high-level descriptive quantum software development environment, tailored to all levels of developer proficiency, automates quantum programming. This ensures that a broad range of talents, including those with backgrounds in AI, ML and linear algebra, can harness quantum computing without requiring deep, specialized knowledge of quantum physics. Classiq democratizes access to quantum computing and equips its users to take full advantage of the quantum computing revolution, including access to a broad range of quantum hardware. Classiq’s core technology, algorithmic quantum circuit compilation, is engineered to power the quantum ecosystem of today and the future. Classiq works closely with quantum cloud providers and advanced computation hardware developers providing software for use with quantum computers, HPC and quantum simulators. Backed by investors such as Hewlett Packard Enterprise’s Hewlett Packard Pathfinder venture capital program, HSBC, Samsung, Intesa Sanpaolo and NTT, Classiq’s world-class team of scientists and engineers has distilled decades of quantum expertise into its groundbreaking quantum engine. Follow Classiq on LinkedIn, X (formerly Twitter) or YouTube, visit the Slack community, GitHub repository and website, www.classiq.io to learn more. Contact Details Rainier Communications Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website http://www.classiq.io/

May 29, 2024 08:05 AM Eastern Daylight Time

Halving of BTFS Storage Rewards

BitTorrent

Singapore, May 28, 2024 – To sustain the growth and success of the BitTorrent ecosystem, BTFS is set to implement a halving on the next round of rewards for storage miners on the BTFS network. From 00:00 (UTC) June 25, 2024, the daily rewards for storage miners on the BTFS network will be halved from 15 billion BTT to 7.5 billion BTT. The BitTorrent File System (BTFS) is a decentralized file storage system that utilizes blockchain technology and peer-to-peer transmission. It allows users to store their files across multiple nodes in a distributed manner, enhancing file security and reliability. BTFS also offers rapid file transfer and access, giving users greater convenience in managing and sharing files. By integrating key features of the BitTorrent Chain (BTTC), such as cross-chain connectivity and multichannel payment options, BTFS significantly enhances user experience. Currently, the BTFS network is experiencing rapid growth with over 8 million nodes across the network, including more than 6 million super miners, according to BTFS SCAN. To support the efficient operations of these nodes, BTFS initiated a rewards program and has provided an aggregate of 25 trillion BTT since the launch of BTFS Mainnet in 2019. Every two years, the BTFS rewards halving will occur causing the rewards for all storage miners across the network to be cut in half. (Halving roadmap) Moreover, halving will also prompt miners to improve node performance by optimizing node operation and reducing waste. In addition, an upgrade of the official website for the BTFS technical community and the release of BTFS v3.0 Mainnet will be scheduled in sync with the halving. These developments are expected to improve the efficiency of the BTFS protocol, expand the user base, and enhance its overall functionality. Looking ahead, BTFS is committed to continuously refining its storage rewards strategies. The goal is to expand the network of nodes participating in file storage on BTFS, providing developers with an efficient, secure, and reliable storage solution boosting both the capacity and the transaction efficiency of the BTTC network. About BTFS The BitTorrent File System (BTFS) is both a protocol and a web application that provides a content-addressable peer-to-peer mechanism for storing and sharing digital content in a decentralized file system, as well as a base platform for decentralized applications (Dapp). The BTFS team has been working on the latest network operations and BTT market sentiment, etc., to make a series of dynamic adjustments such as upload prices and airdrop reward schemes. About BitTorrent Founded with a leading peer-to-peer sharing technology standard in 2004, BitTorrent, Inc. is a consumer software company based in San Francisco. Its protocol is the largest decentralized P2P network in the world, driving 22% of upstream and 3% of downstream traffic globally. Its flagship desktop and mobile products, BitTorrent and µTorrent, enable users to send large files over the internet, connecting legitimate third-party content providers with users. With over 100 million active users, BitTorrent products have been installed on over 1 billion devices in over 138 countries worldwide. Since November 2018, TRON (TRX), Binance (BNB), and Bitcoin (BTC) holders have the opportunity to purchase one-year subscriptions of BitTorrent or µTorrent products, including Ads Free and Pro for Windows. Pro includes anti-virus and anti-malware screening, file converting and playability in HD. Users can visit bittorrent.com or utorrent.com to learn more. Website | Telegram | Medium | X | Media Contact John Chen press@bittorrent.com Contact Details John Chen press@bittorrent.com

May 28, 2024 07:53 PM Eastern Daylight Time

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