<div>
  <ul>
    <li>
      <p>
        Rivian, a developer of battery electric vehicles, including SUVs, pickup trucks, and delivery vans, reported that it produced 24,337 vehicles during 2022, falling 663 units short of its 2022 manufacturing target.&nbsp;
      </p>
    </li>
    <li>
      <p>
        The company cited the global supply chain crisis as the key reason behind the missed targets. Supply chain disruptions forced the company to pause operations of its factory located in Normal, Illinois for 20 days in 2022. However, the company claims that its supply chain had improved over the course of the year and that it has a robust backlog of pre-orders from customers. The company had a pre-order backlog of more than 114,00 R1 electric SUVs as of November 2022, in addition to an order for 100,000 electric commercial vans by Amazon.&nbsp;
      </p>
    </li>
    <li>
      <p>
        Several of Rivian&rsquo;s top executives have left the company within the past several months, following a challenging year. The executives include Randy Frank, vice president of body and interior engineering, and Steve Gawronski, the vice president in charge of parts purchasing.&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.supplychaindive.com/news/rivian-falls-short-of-ev-production-goals-amid-supply-chain-stall/639959/">
      Supply Chain Dive
    </a>
  </p>
  <p>
    <a href="https://www.wsj.com/articles/top-rivian-executives-depart-the-electric-vehicle-startup-11673380522">
      Wall Street Journal
    </a>
  </p>
</div>


Truck Industry Tech

Rivian misses 2022 manufacturing targets amidst supply chain challenges

Novel therapies to reboot cells and organs

Cell & Gene Therapy

INCUMBENTS_PRESENT

<div>
 <p>Swiss healthcare company Roche will be acquiring gene editing firm Poseida Therapeutics for $1.5 billion. This purchase builds upon a collaboration between the two companies, which began in August 2022. </p>
 <p>With this acquisition, Roche aims to further enhance its own allogeneic cell therapy research by integrating Poseida's expertise. The company also anticipates benefiting from Poseida’s production capacities and research and development resources, including a CAR T program and various preliminary genomic medicine candidates. Ultimately, this transaction is projected to bolster Roche's ongoing endeavors in creating innovative therapies in the areas of oncology, immunology, and neurology. The acquisition is set to be finalized in the first quarter of 2025.</p>
</div>

Roche acquires Poseida Therapeutics for USD 1.5 billion to develop CAR T therapies

Reinventing gene therapies with next-generation technologies

Human Gene Editing

<div>
 <p>Pharmaceutical company Roche is set to acquire CAR T-cell therapy and gene editing firm Poseida Therapeutics for a reported amount of USD 1.5 billion. This acquisition is a progression of a pre-existing partnership that began in August 2022. </p>
 
 <p>Post-acquisition, Roche intends to expand its allogeneic cell therapy research by utilizing Poseida's proficiency in the sector. Roche also plans to exploit Poseida’s manufacturing capabilities and R&amp;D assets which encompass a CAR T program and multiple pre-clinical genomic medicine candidates. This acquisition is anticipated to reinforce Roche's ongoing pursuits in creating pioneering therapies pertaining to oncology, immunology, and neurology. The transaction is projected to be finalized in the first quarter of 2025.</p>
 
</div>

Artificial intelligence is identifying and testing new therapies faster than ever.

AI Drug Discovery

ANALYST_QUICK_TAKE

<div>
 
 <p>Cradle, a protein engineering company powered by artificial intelligence, has secured USD 73 million in Series B funding. The round was spearheaded by IVP and saw contributions from existing investors like Index Ventures and Kindred Capital.</p>
 <p>The capital obtained will be directed towards the expansion of Cradle's wet lab to enhance its foundational research on diverse protein modalities and properties. The company will also use the financial resources to strengthen its engineering team to tackle protein engineering challenges. Furthermore, the funds will be utilised to intensify its marketing initiatives and operations. </p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Cradle’s most recent funding round was a Series A round led by Index Ventures in <a href="https:<br>
//sp-edge.com/updates/24429"> November 2023 </a> , aimed at expanding the team, boosting sales, and constructing additional engineering and lab facilities. Following that, the company entered several strategic partnerships in 2024 with biotechnology companies, including Novo Nordisk, Johnson &amp; Johnson, and Ginkgo Bioworks, with a focus on engineering diverse protein modalities.</p>

Cradle raises USD 73 million in Series B funding to develop foundation model for protein discovery

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

PROMINENT_CATEGORY

<div>
 
 <p>The QIAGEN QIAcuityDx digital PCR System, a device for clinical diagnostics, is now a part of the Australian Register of Therapeutic Goods (ARTG). It is intended for use in laboratories to improve accuracy and efficiency in diagnosing oncology and infectious diseases.</p>
 <p>The QIAcuityDx system can offer absolute quantification of target DNA and RNA, simplifying clinical oncology testing. It combines partitioning, thermocycling, and imaging in a single device, thereby removing the requirement for other equipment. Its software has the capability to handle four nanoplates at once, enhancing laboratory efficiency and decreasing cost.</p>
 
</div>

QIAGEN launches QIAcuityDx Digital PCR Platform in Australia and New Zealand

<div>
 
 <p>Leads Biolabs has announced that its drug candidate LBL-024 has been granted the orphan drug designation (ODD) by the US FDA for treating neuroendocrine cancer. The product has previously received investigational new drug approvals from the FDA and the National Medical Products Administration (NMPA) in China.</p>
 <p>LBL-024 is a bispecific antibody that targets PD-L1 and 4-1BB immune checkpoint pathways. The drug boosts the immune system's ability to recognize and destroy cancer cells by blocking the PD-1/PD-L1 pathway and costimulating 4-1BB. It is claimed to have shown a positive response rate in studies of patients with extrapulmonary neuroendocrine cancers. The company is studying LBL-024 in various clinical trials to establish it as a first-in-class therapeutic antibody globally targeting 4-1BB.</p>
 <p>Leads Biolabs is a biotechnology company that develops novel therapies targeting oncology, autoimmune diseases, metabolic disorders, and other conditions. The company's pipeline includes over 20 novel candidates across multiple modalities, including monoclonal antibodies, multi-specific antibodies, T-cell engagers, and antibody-drug conjugates.</p>
 
</div>

Leads Biolabs' LBL-024 receives FDA Orphan Drug Designation for neuroendocrine cancer

Buy Now, Pay Later

<div>
 <p>BluPeak Credit Union has collaborated with Equipifi to launch FlexPay, a Buy Now Pay Later (BNPL) service, for its digital banking system. The service lets credit union members get pre-qualified BNPL offers through their digital banking platform, receive immediate fund transfers back into their checking accounts, and make installment payments on eligible purchases using their credit cards. The FlexPay BNPL service is an integrated feature of BluPeak's banking system. The company alleges that over 70% of BNPL users would rather use BNPL services provided by trusted financial bodies.</p>
</div>

BluPeak Credit Union launches FlexPay; a BNPL solution

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

<div>
 <p>Cardless, a firm providing credit card issuing infrastructure, has secured USD 30 million in a funding round led by Activant Capital. Other participants in the round include Mischief, Industry Ventures, Thayer Ventures, Assurant, and Amex Ventures. This boost increases the total equity funding of the company to over USD 90 million.</p>
 <p>The newly raised capital is intended to aid in the growth of the company's co-branded credit card and loyalty products. Further, it will support the growth of its engineering and operations teams. It will also be used for expanding into new sectors, namely retail, ecommerce, and small to medium-sized businesses.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The FinTech infrastructure industry has recently seen an infusion of funding. Cardless joins Cellpoint Digital, which raised USD 30 million, <a href="https:<br>
//sp-edge.com/updates/35871"> Satispay, </a> which secured USD 64 million, and <a href="https:<br>
//sp-edge.com/updates/35771"> LendAPI, </a> which raised USD 3.2 million.</p>

Cardless raises USD 30 million in growth funding from Activant Capital

Exploring the limitless possibilities of AI

Generative AI Applications

<div>
 <p>An artificial intelligence (AI) startup named Mago, specialising in video transformation, has successfully raised EUR 1.5 million (USD 1.6 million) in a pre-seed funding round. The fund is sourced from Atlantic Labs, a Berlin-based investment firm.</p>
 <p>The funds raised will be utilised by Mago to expand their team, accelerate the venture's development progress and prepare for its market launch slated for early 2025. The company is planning to roll out a selection of offerings which will include both subscription-based Software as a Service (SaaS) and on-premise options. In addition, a free variant of their service will also be made available to users.</p>
 <p>Mago's platform, which is built on the open-source project WarpFusion by co-founder Aleksandr Spirin, allows users to transform live-action videos into a variety of artistic styles. The innovative project has already achieved significant user engagement, amassing over 150 million views on multiple social media platforms.</p>
</div>

Mago raises EUR 1.5 million in pre-seed funding to accelerate development

<div>
 <p>Anthropic, a developer of AI models and related tools, has introduced a new feature called "styles" to its Claude AI assistant. This feature allows users to personalize the communication style of the AI. It is now accessible on the Claude AI platform for all users.</p>
 <p>This "styles" feature provides three pre-set response modes: Formal, Concise, and Explanatory. The Formal style gives clear and polished responses, the Concise style provides shorter and straightforward responses, while the Explanatory style provides educational responses for learning. Moreover, users are given the option to create their own custom styles by uploading content that aligns with their preferred communication style and providing specific instructions to meet their requirements.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Anthropic's move to prioritize personalization aligns with the broader industry trend of making AI systems more adaptable and user-centric. As the competition in the AI landscape intensifies, the ability to provide a personalized experience can be a significant differentiator for companies like Anthropic. Its competitor, <a href="https:<br>
//sp-edge.com/updates/20975"> OpenAI, </a> launched a similar feature called "custom instruction" last July.</p>

Anthropic launches custom styles feature for Claude AI assistant

AI, robotics, and IoT to streamline the flow of goods and information

Logistics Tech

<div>
 <p>Warehouse robotics company, Geekplus, has introduced an improved version of their robot management system (RMS) for warehouse automation. This system efficiently manages and synchronizes warehouse robots, and oversees order fulfillment tasks, thereby easing businesses through peak-season demands.</p>
 <p>Capable of managing beyond 5,000 robots and processing 10,000 tasks per second within a single infrastructure, the upgraded RMS enhances its performance. It boasts 35% reduction in CPU load usage and a 50% decrease in memory usage. Further improvements include refined Multi-Agent Path Finding algorithms that boost throughput by 15%.</p>
 <p>Geekplus's RMS complements its core solutions, incorporating Shelf-to-Person, Tote-to-Person, and Pallet-to-Person setups. The system can skillfully manage around 5,000 P-series robots in facilities spanning over 100,000 sq m, as well as coordinate 600 RS-series and 2,000 P40 robots in 50,000 sq m facilities.</p>
</div>

All Updates

Rivian misses 2022 manufacturing targets amidst supply chain challenges

Roche acquires Poseida Therapeutics for USD 1.5 billion to develop CAR T therapies

Roche acquires Poseida Therapeutics for USD 1.5 billion to develop CAR T therapies

Cradle raises USD 73 million in Series B funding to develop foundation model for protein discovery

QIAGEN launches QIAcuityDx Digital PCR Platform in Australia and New Zealand

Leads Biolabs' LBL-024 receives FDA Orphan Drug Designation for neuroendocrine cancer

BluPeak Credit Union launches FlexPay; a BNPL solution

Cardless raises USD 30 million in growth funding from Activant Capital

Mago raises EUR 1.5 million in pre-seed funding to accelerate development

Anthropic launches custom styles feature for Claude AI assistant

Geekplus upgrades robot management system for warehouses

Truck Industry Tech

Rivian misses 2022 manufacturing targets amidst supply chain challenges

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