<div>
  <ul>
    <li>
      <p>
        AI-powered precision oncology company Erasca has raised USD 160 million through an equity offering of 86.4 million common shares at USD 1.85 per share to new and existing healthcare-focused investors. The offering, expected to close on or about May 21, 2024, also granted a 30-day option to purchase up to an additional 12.9 million shares.
      </p>
    </li>
    <li>
      <p>
        The funds raised are planned to fund the R&amp;D of its product candidates and other development programs, as well as for working capital and other general corporate purposes.
      </p>
    </li>
    <li>
      <p>
        In a subsequent in-licensing agreement, the company purchased global rights to two preclinical programs: 1) ERAS-0015 (a pan-RAS molecular glue therapy) from China-based Joyo Pharmatech for an upfront payment of USD 12.5 million and up to USD 176.5 million in milestone payments and 2) ERAS-4001 (a pan-KRAS inhibitor) from Medshine Discovery to develop and commercialize ERAS-4001 for an upfront cash payment of USD 10 million and up to USD 160 million in milestone payments.
      </p>
    </li>
    <li>
      <p>
        The company has also announced the discontinuation of several of its current programs, including 1) the ERAS-4 internal pan-KRAS program, which will be added to the ERAS-4001 program, 2) the ERAS-007 ERK inhibitor, which failed to show efficacy in a Phase I/II trial, and 3) ERAS-801, an epidermal growth factor receptor (EGFR) inhibitor.&nbsp; This pipeline change has resulted in a workforce layoff of approximately 18%, including the redundant staff working in drug discovery and discontinued programs.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://investors.erasca.com/news-releases/news-release-details/erasca-announces-pricing-underwritten-offering-common-stock-1">
      Press release 1
    </a>
  </p>
  <p>
    <a href="https://investors.erasca.com/news-releases/news-release-details/erasca-announces-strategic-licensing-ras-targeting-franchise">
      Press release 2
    </a>
  </p>
  <p>
    <a href="https://www.morningstar.com/news/globe-newswire/9119617/erasca-announces-strategic-in-licensing-of-ras-targeting-franchise">
      Morningstar
    </a>
  </p>
  <p>
    <a href="https://www.pharmaceutical-technology.com/news/erasca-trims-workforce-and-pipeline-to-focus-on-kras-and-molecular-glues/?cf-view&cf-closed">
      Pharmaceutical Technology
    </a>
  </p>
  <p>
  </p>
</div>


AI Drug Discovery

<div>
 <p>Erasca, a company specializing in AI-powered precision oncology, has raised a total of USD 160 million through an equity offering of 86.4 million common shares each valued at USD 1.85. The investors in this round consisted of both new and existing stakeholders in the healthcare industry. The offering, which includes a 30-day option to buy up to 12.9 million additional shares, is expected to close on or around May 21, 2024.</p>
 <p>The company plans to use the funds raised to support the research and development of its product candidates and other programs. The investment will also be used for working capital and various general corporate purposes.</p>
 <p>Following the funding round, Erasca purchased global rights to two preclinical programs. The first, ERAS-0015 (a pan-RAS molecular glue therapy), was acquired from Joyo Pharmatech based in China for an upfront payment of USD 12.5 million along with potential milestone payments of up to USD 176.5 million. The second, ERAS-4001 (a pan-KRAS inhibitor), was acquired from Medshine Discovery with an upfront payment of USD 10 million and potential milestone payments up to USD 160 million. The intent is to develop and commercialize ERAS-4001.</p>
 <p>Concurrently, Erasca has announced the discontinuation of several of its current programs. The terminated programs include the internal pan-KRAS program ERAS-4, which will be incorporated into the aforementioned ERAS-4001 program. Furthermore, the ERAS-007 ERK inhibitor, which failed to prove effective in a Phase I/II trial, and ERAS-801, an EGFR inhibitor, were also discontinued. This reshuffling of the company's pipeline has led to a workforce reduction of around 18%, particularly affecting the staff involved in drug discovery and the discontinued programs.</p>
</div>

Erasca secures USD 160 million investment; obtains rights of RAS-targeting franchise

Retail investors demanding sophisticated passive investment strategies are looking for an edge.

Retail Trading Infrastructure

<div>
 
 <p>Online trading platform Robinhood has introduced joint investment accounts. This feature lets users manage investments collaboratively and simplifies the investment process by consolidating financial assets into one account.</p>
 <p>The user-friendly joint investment account merges individual accounts, enables shared access, eases fund transfers, and provides easy switching between individual and joint accounts.</p>
 <p>With no extra charges, Robinhood aims to offer users additional financial growth opportunities by including benefits like a 1% deposit boost and a 5% APY on non-invested cash in the joint investment accounts.</p>
 
</div>

Robinhood launches joint investment accounts

PROMINENT_CATEGORY

<div>
 <p>Online trading platform eToro, based in Israel, has formed a partnership with the London Stock Exchange. This collaboration aims at offering users access to over 1,000 additional UK stocks and improving the quality of market data.</p>
 <p>This partnership will phase in the inclusion of more UK stocks to eToro's platform over the forthcoming months, growing from their existing offering of over 400 listed UK companies. eToro aims to enhance the trading experience for its global clientele, comprising of 3.8 million registered UK users. This enhancement will involve offering access to smaller stocks and better quality pricing data.</p>
 <p>This joint endeavor is a part of the strategies of eToro to tailor their offerings for the UK market. The strategy is in line with the prior launch of its ISA product and the provision for UK users to directly invest from GBP-denominated eToro Money accounts.</p>
</div>

eToro partners with London Stock Exchange to expand UK stock offerings

Generating, collecting, and analyzing enterprise data will never be the same.

Edge Computing

<div>
 
 <p>StorMagic, a provider of edge computing, has received an investment from Palatine Growth Credit Fund. The amount was not disclosed.</p>
 <p>The investment will be used to support the company's growth.</p> 
 <p>Established in 2006, StorMagic offers edge computing solutions, which includes software-defined storage and hyper-converged infrastructure specifically designed for edge environments, enabling businesses to efficiently manage data across diverse locations.</p>
 
</div>

StorMagic secures funding from Palatine Growth Credit Fund

Platforms to make the most of cloud infrastructure

Cloud Optimization Tools

<div>
 
 <p>In a Series B funding round led by Highsage Ventures, cloud cost management platform Archera raised USD 17 million. Other participants included Ridge Ventures, Amplify Partners, and PSL Ventures.</p>
 <p>The company plans to use this funding to provide more cloud financing and commitment insurance products, support Azure and Google Cloud platforms, expand their team, and enhance financial reporting services for enterprise clients.</p>
 <p>Established in 2019, Archera's platform aids businesses in minimizing cloud expenses and enhancing efficiency by analyzing usage patterns, predicting future costs, and suggesting suitable purchasing strategies for cloud resources. The company boasts of around 400 clients and generates USD 7 million in revenue annually.</p>

</div>

Archera raises USD 17 million in Series B funding for product development and recruitment

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>

 <p>Alto Neuroscience, a biopharmaceutical company, has been awarded a grant of USD 11.7 million by the Wellcome Trust. This funding is intended to aid the Phase IIb clinical trials of their drug candidate, ALTO-100, which is under investigation as a potential treatment for bipolar depression. The trial is projected to enrol around 200 participants and anticipates revealing primary data by 2026.</p>
 <p>The company specializes in precision psychiatry, using neurobiology to create individualized treatments for various mental health conditions. Through the Precision Psychiatry Platform, Alto Neuroscience utilizes brain biomarkers, such as EEG activity, neurocognitive evaluations, and information collected from wearables, to determine the likely success rate of specific drug candidates among different patients. Its drug development pipeline includes a range of clinical-stage assets, including ALTO-100 and ALTO-300 for major depressive disorder, ALTO-101 targeted at cognitive impairments related to schizophrenia, and ALTO-203 for treating major depressive disorder with anhedonia.</p>

</div>

Alto Neuroscience receives grant of USD 11.7 million to support Phase IIb clinical trials of ALTO-100

INCUMBENTS_PRESENT

<div>
 
 <p>Quest Diagnostics and Becton, Dickinson, and Company (BD) have formed a strategic partnership aimed at developing companion diagnostics (CDx) for enhanced treatment options for cancer and other diseases. BD is an internationally recognized medical technology company that specializes in the development, manufacture, and sale of medical devices, instrument systems, and reagents.</p>
 <p>With a focus on providing a comprehensive solution for the development of CDx, the partnership will be involved in manufacturing and distributing diagnostic kits approved by the FDA. They intend to use flow cytometry technology in the process, which could assist in selecting treatments for patients with cancer. This could potentially improve clinical outcomes and help to reduce healthcare costs.</p>
 
</div>

Quest Diagnostics and BD partner to develop flow cytometry-based companion diagnostics for cancer and other diseases

Technology providers that enhance satellite operations

Next-gen Satellites

<div>
 <p>Commercial aerospace company, USPACE Technology Group Limited (USPACE), has announced the launch of six commercial optical satellites. They will also be offering different satellite components and services. </p>
 <p>In addition, USPACE revealed their new Hong Kong Satellite Manufacturing Center, along with the details of their optical satellites on their <a href="https://www.uspace.com/categories.html"> website </a>. These satellites vary in range from 0.5 m to 5 m, with prices varying from USD 35,000 to USD 990,000. Future releases will include separation seats, multi-satellite dispensers, and 0.5-meter resolution lightweight cameras.</p>
</div>

USPACE Technology Group Limited unveils commercial optical satellites and related aerospace products

<div>
 <p>Sweden is carrying out the "Stella" study which aims to investigate the possibility of launching a small satellite from a Saab Gripen fighter jet. This is to enhance its operations. The initiative, led by the Swedish Air Force and Defense Research Agency, takes inspiration from Italy's recent plan to launch small satellites via the Eurofighter Typhoon.</p>
 <p>The Swedish Air Force has been notably investing in long-range air-to-ground missile systems for the nation's Gripen C/D fleet. However, no specific details about the budget or financial aspects of this new potential satellite launch strategy have been disclosed.</p> 
</div>

Sweden issues study on Gripen fighter jet’s satellite launch capability

<div>
 <p>On July 15, 2024, Terran Orbital, a satellite solutions and products manufacturer, declared that it received occupancy certification for its new production facility in Irvine, California. Located on a five-acre plot, the factory, with an area of 94,000 sq ft, is anticipated to triple Terran Orbital's space vehicle assembly, integration, and testing capabilities.</p>
 <p>All of Terran Orbital's space vehicle assembly is set to move to the new site to maximize efficiency and capacity usage. This will free up their existing facilities to concentrate on the manufacture of components and modules. The organization also intends to begin cleanrooms construction by 2025.</p>
</div>

Terran Orbital receives certification for new manufacturing facility to begin production

Clean, congestion-free air travel gets liftoff

Passenger eVTOL Aircraft

ANALYST_QUICK_TAKE

<div>
 <p>Crisalion Mobility, a Spanish aircraft manufacturer, has entered into a partnership with UAE's Air Chateau International.</p>
 <p>As part of the agreement, Air Chateau has pre-ordered 10 Integrity eVTOLs, taking Crisalion's pre-orders to 125. The partners will also collaborate to expand eVTOL air taxi services in UAE's major cities.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> Crisalion Mobility also recently partnered with iJet Aviation in <a href="https:<br>
//sp-edge.com/updates/30665"> June 2024 </a> and Wilbur Air in <a href="https:<br>
//sp-edge.com/updates/31896"> July 2024 </a> to expand its operations and develop the eVTOL air transportation sector in Malaga and Australia.</p>

All Updates

Erasca secures USD 160 million investment; obtains rights of RAS-targeting franchise

Robinhood launches joint investment accounts

eToro partners with London Stock Exchange to expand UK stock offerings

StorMagic secures funding from Palatine Growth Credit Fund

Archera raises USD 17 million in Series B funding for product development and recruitment

Alto Neuroscience receives grant of USD 11.7 million to support Phase IIb clinical trials of ALTO-100

Quest Diagnostics and BD partner to develop flow cytometry-based companion diagnostics for cancer and other diseases

USPACE Technology Group Limited unveils commercial optical satellites and related aerospace products

Sweden issues study on Gripen fighter jet’s satellite launch capability

Terran Orbital receives certification for new manufacturing facility to begin production

Crisalion Mobility partners with Air Chateau for pre-order of eVTOL aircraft

AI Drug Discovery

Erasca secures USD 160 million investment; obtains rights of RAS-targeting franchise

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