• Groundbreaking thymus-rejuvenating biologics are designed to restore immune function and promote lasting immune health throughout all stages of life

BASEL, Switzerland, Jan. 8, 2026 — TECregen, a biotechnology company pioneering thymus regeneration, today announced the successful completion of a CHF 10 million (∼EUR 10.7 million / USD 12.6 million) seed financing round. The financing was led by the Boehringer Ingelheim Venture Fund (BIVF), with participation from LifeSpan Vision Ventures, Carma Fund, EOS BioInnovation, High-Tech Gründerfonds (HTGF), the JFG Life Sciences Foundation of the University of Basel, and Zurich Cantonal Bank. The investment will accelerate development of TECregen’s groundbreaking thymopoietic biologics, designed to rejuvenate thymic epithelial cells (TECs), restore immune function, and strengthen overall immune resilience.

In addition to announcing its successful seed financing, TECregen has appointed Dr. Bo Rode Hansen, Ph.D., MBA, as Chairman of the Board of Directors. Dr. Hansen is a seasoned biotech executive with over two decades of leadership experience in the pharmaceutical and biotech industry. He previously served as the CEO of Scandion Oncology A/S and was the founding President of Genevant Sciences, in addition to holding senior leadership roles at Roche and Santaris Pharma. In his role as Chairman, Dr. Hansen will help guide TECregen’s strategic growth and advance its thymus rejuvenation programs.

“I am honored to join TECregen’s Board at such a pivotal time for the company,” said Dr. Bo Rode Hansen, Chairman of TECregen. “The team’s pioneering work in thymus regeneration has the potential to redefine treatment approaches for immune ageing and related disease. I look forward to working with the management team and our investors to accelerate the development and delivery of these transformative therapies to patients who need them most.”

“We welcome Bo as our new Chairman,” commented Filippo Oliveri, co-founder and Board Director of TECregen. “His wealth of industry expertise and proven leadership will be invaluable as we pursue our mission. Backed with the strong investor support, TECregen is well positioned to accelerate its thymus regeneration initiative and deliver innovative immune rejuvenation therapies to patients.”

“TECregen’s innovative approach to thymus regeneration firmly positions the company at the forefront of targeted biologics designed to restore immune function, with a clear trajectory toward the clinic. The ability to modulate and restore thymic function paves the way for new therapeutic opportunities across immunology, oncology, and rare diseases. We are enthusiastic to support TECregen as it advances toward clinical development,” remarked Dr. Philipp Müller, Investment Manager at BIVF.

TECregen’s groundbreaking approach places the company at the forefront of targeted biologics for immune restoration, with significant potential across multiple indications. Backed by strong investor support and the leadership of Dr. Bo Rode Hansen as Chairman, TECregen is well positioned to accelerate the development of its thymus rejuvenation programs and deliver innovative immune therapies to patients in need.

About TECregen:
TECregen is pioneering thymus rejuvenation to address conditions driven by impaired T-cell responses. The company’s innovative approach focuses on revitalizing and expanding thymic epithelial cells (TECs) to replenish T cells and achieve durable improvements in immune function. By developing a pipeline of differentiated thymopoietic biologics, TECregen aims to strengthen immune recovery following transplantation or cytotoxic therapy, promote immune health, and enhance immune surveillance against cancer, ushering in a new era of immunotherapy.

SOURCE TECregen AG

CHICAGO, Jan. 7, 2026 — Ziegler, a national boutique investment bank, is pleased to announce the successful closing of the Series 2025 Bond Anticipation Notes (the “Series 2025 Notes”) for the benefit of The Sanctuary at Village On The Isle LLC (the “Borrower”). The Borrower was formed in 2025 to develop, own, and operate a retirement community (the “Community”) to be located on approximately 50 acres in unincorporated Sarasota County, Florida. The sole member of the Borrower is Southwest Florida Retirement Center, Inc. d/b/a Village On The Isle (“VOTI”), a Florida not-for-profit organization. VOTI owns and operates a continuing care retirement community in Venice, Florida which opened in 1982 and currently consists of 234 independent living units, 48 assisted living units, 16 memory care units and 64 licensed skilled nursing beds. The Borrower and VOTI are affiliated with the Florida-Bahamas Synod (the “Synod”) of the Evangelical Lutheran Church in America (the “ELCA”). However, neither VOTI, the Synod or the ELCA is liable for payment of principal or interest on the Series 2025 Notes.

The first phase of the Community is anticipated to consist of 130 independent living apartments and 50 independent living cottages and will be located approximately five miles from VOTI. The size of the site allows for the future growth of the Community over time. Future growth of the Community could potentially include more independent living units and/or the addition of an assisted living center. Development of future phases will depend, in part, on the market demand at the time development is being considered. Greystone has been engaged to provide development consulting services during the planning and development of the Community.

The Community will be regulated under Chapter 651, Florida Statutes. The Community is expected to offer a variety of living accommodations in a campus-like setting with residential and community buildings that are intended to blend together to create an attractive, supportive environment for its residents.

The Series 2025 Notes consist of tax-exempt Series 2025A Notes in the amount of $35,840,000 marketed to institutional investors and $2,000,000 of subordinate taxable Series 2025B Notes purchased by VOTI. Proceeds of the non-rated Series 2025 Notes will be used to provide pre-finance capital for the land acquisition, marketing and pre-development costs of the Community. It is currently anticipated that the Series 2025 Notes will be redeemed in December of 2027 with the proceeds of a long-term financing for the construction of the Community.

Doug Feller, Chief Executive Officer of VOTI, said, “We are pleased to have reached this stage of growth and could not have done so without our partnership with Ziegler. We value our strong partnership with Ziegler as we move forward with this exciting new project that supports our long-term vision.”

 Kathi Rogers, Chief Financial Officer of VOTI, said, “This milestone would not be possible without the strength of the partnerships that support Village On The Isle and share in our vision for The Sanctuary. We are thankful for Ziegler’s long-standing partnership and the collaborative efforts of our advisors, and we are especially grateful to our Board of Trustees for their strategic leadership and commitment to ensuring VOTI’s mission remains strong for generations to come.”

Rich Scanlon, Senior Managing Director, Senior Living Finance at Ziegler stated “Ziegler has had the distinct pleasure of serving as a strategic partner to VOTI since our first underwriting with them in 1985. VOTI’s management team recognizes the enormous potential of their primary market area which, combined with the quality of their product, led them to search for land upon which to build a proximate second campus. Given the pace of presales for VOTI’s 2024 expansion at their current campus, they envision strong presales for the Sanctuary with construction expected to commence in January 2028.”

Ziegler is the nation’s leading underwriter of financing for not-for-profit senior living providers. Ziegler offers creative, tailored solutions to its senior living clientele, including investment banking, financial risk management, merger and acquisition services, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication.

For more information about Ziegler, please visit us at www.Ziegler.com.

About Ziegler:
Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. It has a unique focus on healthcare, senior living and education sectors, as well as general municipal and structured finance. Headquartered in Chicago with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, fixed income sales, underwriting and trading as well as Ziegler Credit, Surveillance and Analytics. To learn more, visit www.ziegler.com.

Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.

SOURCE Ziegler

LG NOVA-Supported Fund and Investment Vehicle Welcomes New Investors in NovaWave Fund I Generation to Accelerate AI-First Company Creation in American West and Appalachia

LAS VEGAS, Jan. 7, 2026 — Silicon Valley–based venture capital firm NovaWave Capital announced AZ Venture Capital Inc. and Sunny Day Sports as incoming investors in the NovaWave Fund generation, further strengthening the public-private capital base supporting innovation across the United States. At CES 2026^®, together with anchor Limited Partner LG Electronics, NovaWave Capital also announced a collaboration with Arizona Commerce Authority to launch the groundbreaking “WaveX” AI venture studio that will support new ventures across the state in healthcare, energy, sports and media.

Arizona Governor, Katie Hobbs said, “Arizona is proud to welcome NovaWave Capital’s venture studio to our state, a powerful addition to our thriving innovation ecosystem. This prominent initiative reflects Arizona’s growing global importance in advanced technologies and our commitment to fostering next-gen innovations across artificial intelligence, energy, advanced manufacturing, and more.”

“With our collaborative business environment, world-class talent, and advanced technology ecosystem, Arizona offers unparalleled opportunities for startups and early-stage companies to scale and succeed,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “We are excited to partner with NovaWave Capital on the creation of a new AI venture studio and venture fund to support Arizona based companies.”

Complementing the Arizona projects are LG NOVA’s hubs in West Virginia and Silicon Valley; as well as NovaWave Capital’s presence in the Gulf region, forming a cross-regional network for technology innovation.

NovaWave Capital, created to support businesses under LG Electronics’ North America Innovation Center LG NOVA, is focused on helping to scale high growth AI companies in the energy, health and business sectors with the goal of delivering measurable, economic and industrial impact, according to NovaWave Capital’s Founding Managing Partner, “Tonton” Ali Diallo, who also founded Aurion Capital.

“Our collaboration with AZ Venture Capital Inc., Sunny Day Sports and the Arizona Commerce Authority is a testament to the vision shared by our investors and regional partners across the public and private spectrum to build and scale AI-first companies in collaboration with LG NOVA,” said Diallo. “By bridging Silicon Valley innovation with the fast-growing ecosystems of regional and international markets, we are seeking to build the next generation of AI, energy and health companies that will accelerate America’s innovation economy.”

“LG NOVA is committed to building a strong foundation for breakthrough innovation in the United States,” said Dr. Sokwoo Rhee, Executive Vice President of Innovation at LG Electronics and Head of LG NOVA. “Our collective work with NovaWave Capital allows us to identify, support, and scale impactful AI-first ventures that benefit communities and industries nationwide.”

NovaWave Capital is supported by a diverse base of investors across the corporate, institutional and government sectors, including LG Electronics, the fund’s anchor investor; the Nevada Governor’s Office of Economic Development (GOED); the WV Division of Economic Development; Sunny Day Sports; AZ Venture Capital, Aurion Capital among others.

NovaWave Capital’s venture-building and fund platform provides portfolio companies with:

• Strategic collaboration with LG NOVA, enabling commercialization pathways in the U.S. and globally
• Incubation and venture-building resources through WaveX to support rapid product development
• Regional acceleration partnerships across West Virginia, Nevada and Arizona
• Deep-sector expertise in AI, advanced energy systems, digital health and applied enterprise innovation, and
• Global commercial expansion opportunities and government and industry collaborations across Europe and the Gulf Region.

NovaWave Capital collaborates closely with a network of strategic partners in Asia, the Middle East and North America (including the U.S. states of West Virginia, Nevada and Arizona) and International NovaWave Capital collaborators from South Korea, Qatar, the UAE, Japan, and Saudi Arabia, including Samrya Group, the University of Sharjah, Marshall University, West Virginia University and the University of Nevada, Las Vegas (UNLV). Such collaborations underscore the global and cross-sector collaboration behind NovaWave Capital’s platform and its regional reach and impact across global innovation ecosystems.

NovaWave Capital is managed by Aurion Capital, a global investment group headquartered in Silicon Valley with offices in Seoul, Dubai and Abu Dhabi. Aurion Capital partners with global corporations, sovereign funds, governments and family offices to manage institutional capital, public-private partnerships and innovation programs that accelerate the growth of emerging economies across Rural America, the Southwestern United States and the Gulf. The firm is a partner of the World Economic Forum and oversees a portfolio of funds in the United States and in Abu Dhabi Global Markets.

About LG NOVA
LG NOVA, the North America Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center’s mission is to fuel innovation for LG and its partners by creating and launching new ventures to become the next growth engine for LG. Learn more about LG NOVA at www.lgnova.com.

About LG Electronics USA
LG Electronics USA Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics Inc., a smart life solutions company with annual global revenues of more than $60 billion. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. www.LG.com.

About NovaWave Capital
Headquartered in Menlo Park, CA, NovaWave Capital invests in technologies with the goal of delivering measurable economic and industrial impact, and long-term capital appreciation. The firm’s investment strategy centers on scaling companies in artificial intelligence, next-generation energy and digital health, supported by public-private innovation corridors in West Virginia, the Appalachia region, Nevada, and Arizona—while leveraging commercial collaboration with LG NOVA. Learn more at www.novawavecapital.com

NovaWave Capital is a registered investment adviser (RIA).*
Registration of an investment adviser with the SEC or with any state securities authority does not imply a certain level of skill or training. This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith and any related legal, tax, accounting or other material considerations. To the extent that the reader has any questions regarding the applicability of any specific issue discussed above to their specific portfolio or situation, prospective investors are encouraged to consult with the professional advisor of their choosing.

Media Contacts:

LG Electronics USA
Linda Quach
+1 408 903 3045
[email protected]

NovaWave Capital
[email protected]

SOURCE LG Electronics USA

The company’s AI-native operating system unifies practice management, clinical decision support, and real-time physiological data to improve therapist and patient well-being.

NEW YORK, Jan. 7, 2026 — Oasys Health (“Oasys”), the first AI-native operating system for behavioral health, today announces $4.6M in funding, including a $4M seed round led by Pathlight Ventures, with participation from Twine Ventures and Better Ventures, and $600K in pre-seed funding from 1984 Ventures. As demand for mental health support surges, Oasys will use new capital to enhance its AI-powered platform, deepen integrations with leading wearables and health apps, grow its engineering and data science teams, and expand its network of partnerships with health clinics, behavioral health centers, Managed Service Organizations (MSOs), and universities and schools investing in long-term campus mental health infrastructure.

“Our momentum at Oasys reflects a fundamental turning point for mental health care, where data and AI empower, rather than replace, clinicians,” said Hashem Abdou, co-founder and CEO at Oasys. “For decades, therapy has been a subjective, session-based practice built on intuition and recall rather than measurable evidence. Now, for the first time, we have the tools to change that. Advances in AI allow us to extract insights from unstructured clinical data, the explosion of wearables gives us continuous behavioral and physiological insight, and Oasys has built the connective tissue to tie it all together. This funding advances our mission to redefine how we clinically care for mental health by creating the operating system that makes care personalized, data-driven, and accessible to all.”

The Mental Health Crisis is Growing & Outdated Systems Can’t Address it

The world faces record levels of anxiety, depression, and burnout—yet the systems designed to deliver mental health care are outdated, disconnected, and reactive. While other areas of medicine have embraced data, automation, and continuous monitoring, mental health remains largely analog. Clinicians are forced to operate in silos and are overburdened by administrative work—and existing tools fail to support their workflows because they were built for billing, not care. As a result, patients are treated episodically, often seeking help only once symptoms reach a breaking point, and progress can’t be measured in real time.

Oasys exists to close that gap, bringing the same level of clinical precision, operational intelligence, and data integration to mental health that modern medicine applies to the body. While competitors optimize a slice of behavioral health workflows, Oasys unifies AI, automation, and physiological data into a single intelligent system to transform therapy from reactive to proactive, measurable, and continuous.

The Oasys Solution

Oasys is an AI-native operating system for modern mental health. The platform automates core workflows—documentation, scribing, billing, scheduling, and insurance reimbursements—while seamlessly syncing with leading wearables and health apps such as Apple Watch, Oura Ring, Strava, and Flo. This enables secure, real-time integration of physiological data, including activity, sleep, heart rate, glucose, and menstruation.

By bridging behavioral and physical health, Oasys empowers:

• Behavioral health organizations: Reduce clinician burnout and operational inefficiencies through automation and real-time analytics that give leadership clear visibility into performance, outcomes, and site-level operations.
• Clinicians: Save 10+ hours each week on administrative tasks while turning fragmented notes and wearable data into actionable insights that inform care, surface early risk signals, and enable proactive interventions. Unlock new revenue opportunities via Remote Patient Monitoring (RPM) CPT codes.
• Patients: Experience more personalized, preventive, and measurable care that extends beyond traditional sessions, transforming therapy into a continuous, data-driven journey toward better mental and physical health.

“Oasys is defining a new category in mental health care, moving beyond legacy EHRs and fragmented point solutions to build a truly comprehensive data backbone,” said Charley Ma at Pathlight Ventures. “The company’s founding team has the technical depth and execution velocity to set a new standard for how the world clinically understands and supports mental health. It’s an honor to be part of their journey at the unique intersection of AI, data infrastructure, and clinical care.”

Momentum & Looking Ahead 
Oasys is rapidly emerging as the new infrastructure layer for modern behavioral health, demonstrating measurable impact across clinical, operational, and financial outcomes. The company:

• Partners with more than 25 health clinics, supporting hundreds of providers and thousands of patients nationwide. Early adopters consistently cite its intuitive interface, powerful automation, and immediate measurable ROI.
• Onboards new clinics in just 48 hours every week, with thousands of therapy sessions logged since launch.
• Reports measurable improvements in patient engagement and symptom tracking compliance, significant reductions in claim denials, and faster reimbursements for providers through AI-powered documentation accuracy.

In 2026, Oasys will launch a robust outcomes measurement framework, providing clinicians with standards to track patient progress and prove therapy effectiveness over time. The company plans to expand its partner network to more than 1,000 enterprise-scale mental health organizations that value clinical precision, operational efficiency, and data-driven care.

To learn more about Oasys and/or apply for a growth or engineering role, visit https://oasys.health/

ABOUT OASYS 
Oasys Health (“Oasys”) is redefining how we clinically care for mental health by building the operating system that makes treatment personalized, data-driven, and accessible to all. Its AI-powered platform helps modern health clinics streamline operations, strengthen revenue, reduce provider burnout, and deliver smarter, more proactive care by unifying practice management, clinical decision support, and physiological data from wearables and health apps such as Apple Watch, Oura Ring, Strava, and Flo. Learn more at https://oasys.health/

MEDIA CONTACT
Tess Pawlisch
608-333-9788
[email protected]

SOURCE Oasys Health

GRAND JUNCTION, Colo., Jan. 7, 2026 — Pinpoint Search Group, a leading cybersecurity recruitment firm, has released its annual report on cybersecurity funding for 2025. The report establishes 2025 as an incredibly strong year for investment in cybersecurity vendors, with a 47% increase in total funding raised compared to 2024.

In 2025, Pinpoint Search Group’s research team tracked $13.97 billion in cybersecurity investment — a sharp rise from the $9.5 billion raised in 2024. Deal volume also jumped, with 392 funding rounds recorded compared to 304 the year prior.

The trajectory is notable: Following the sharp contraction from 2021 to 2023, funding stabilized in 2024 and accelerated in 2025. While still below the 2021 peak ($20.6 billion), this level of capital places 2025 nearly on par with 2022 for investment in the cybersecurity industry and firmly establishes it as the strongest funding year of the post-correction cycle, reflecting renewed confidence in the industry.

“With almost $14 billion raised, 2025 was the strongest funding year for cybersecurity vendors since 2022, showcasing investor confidence in the demand for cybersecurity innovation,” said Mark Sasson, founder and managing partner at Pinpoint Search Group. “The outlook for cybersecurity founders for 2026 looks strong, with both renewed investor confidence in the industry and the return of large, conviction-driven rounds, as investors are again willing to scale platforms in the correct circumstances.”

Early-stage companies represented a substantial share of overall activity, accounting for 246 out of 392 funding rounds recorded in 2025 — or almost two-thirds of all transactions, as company formation remains healthy across the cybersecurity ecosystem.

Several key trends help to explain investment in the cybersecurity industry during 2025.

AI in the enterprise accelerated rapidly in 2025. While organizations view AI as beneficial for productivity and output, it’s also creating new challenges, with governance, identity, and control frameworks lagging far behind uptake of the new technology.

This gap is visible in Pinpoint’s data, with a notable share of companies receiving significant investment classing themselves under Governance, Risk, and Compliance (GRC), offering control layers for modern, AI-driven environments — something investors have been drawn to as AI in the enterprise expands.

Identity Management remains a central pillar of cybersecurity investment. As cloud ecosystems grow in complexity, AI usage rises, and third-party access expands, enterprises must assert control over access. A growing need for Identify and Access Management (IAM) solutions makes them an appealing option for investors.

Industrialized Cybercrime means that the risk of cyberattacks is never far away, with organizations facing fraud, data theft, ransomware, and other increasingly complex cyber threats.

These ever-evolving attacks cost organizations — and even national economies — billions during 2025, and enterprises are investing in cybersecurity solutions to ensure they don’t become the next high-profile victim. This need to ensure security means organizations are spending budgets on cybersecurity tools, making cybersecurity vendors an appealing investment.

As we start 2026, Pinpoint expects continued selectivity, increased diligence on go-to-market execution, and tighter alignment between budget allocation and board-level priorities.

For the full, detailed findings of Pinpoint Search Group’s 2025 annual report on cybersecurity funding, click here.

About Pinpoint Search Group
Pinpoint Search Group is a leading cybersecurity recruitment firm and specializes in filling vice president, director, and senior individual talent. Pinpoint’s collective experience recruiting hundreds of candidates in all segments of cybersecurity provides the company with the credibility to communicate with, qualify, and place professionals in today’s most competitive area of technology. Additionally, Pinpoint has produced Cybersecurity M&A and Vendor Funding Reports highlighting M&As and funding in the cybersecurity space monthly, quarterly, and annually since 2020.

Media Contact:
Christopher Joseph (CJ) Arlotta
CJ Media Solutions, LLC for Pinpoint Search Group
C: 631-572-3019
[email protected] 

SOURCE Pinpoint Search Group

IRVINE, Calif., Jan. 7, 2026 — Spiro Medical, Inc., a Newco established to develop the first of its kind Pulmonary Neuromodulation System (PNM) for the treatment of Asthma announced today the closing of a $67 million Series A equity financing. 

The financing included a syndicate of venture investors led by Andera Partners (Paris), Omega Funds (Geneva/Boston) and Sherpa Healthcare Partners (Cayman Islands) and joined by HSG (Hong Kong), Supernova Invest (Paris), Northern Light Venture Capital (Menlo Park, CA) and Hero Inc. Ltd UK which is part of the India-based conglomerate Hero Enterprise.

Proceeds from the financing will be used to develop a purpose-built PNM system and to execute on the clinical work required for regulatory approval in the United States.

“I am delighted to welcome world-class venture capital investors who understand the immense potential of this PNM technology. Once this novel approach comes to market, it promises to have a profound impact on patients suffering from Asthma and other breathing related conditions,” said Raymond W. Cohen, chairman of the board of directors.

Spiro Medical also welcomed Raphaël Wisniewski of Andera, Claudio Nessi of Omega and Ouyang Xiangyu of Sherpa to its board of directors.

Mr. Rinda Sama, CEO of Spiro Medical, said, “We are grateful to our co-founder Stephen Pyles M.D., for his foresight and look forward to his future contributions. We believe this is a rather unique opportunity to be starting a project with issued patents and some human data which informs us about the potential for this exciting new clinical indication for neuromodulation. We are also highly confident that we can build a world-class system given our team’s experience and expertise in developing implantable neuromodulation systems.”

About Asthma
Asthma is a common chronic lung disease, affecting over 28 million Americans and over 300 million people worldwide. Many clinical symptoms of asthma are related to the nervous system and can be at least partially attributed to altered activation or regulation of airway nerves. Associated symptoms such as wheezing, shortness of breath, chest tightness and coughing, etc., are mediated in part, by targeting these neural reflex pathways.

About Spiro Medical 
Spiro Medical, based in Irvine, CA is a new company founded by Stephen Pyles, M.D., Kurt Gehlsen, M.D., Ph.D., Rinda Sama and G. Jay Jiang, Ph.D. with the purpose of developing a purpose-built Pulmonary Neuromodulation System to treat patients suffering from severe Asthma.

SOURCE Spiro Medical

• Recordati Joins Boehringer Ingelheim Venture Fund in Financing Round, with Participation from Delos and Blue Bay Capital
• New Investment, Combined with Recent $8.4 Million ARPA-H Award, Brings Funds Raised for Seed Round as of Q4 2025 to $16.4 Million

CAMBRIDGE, Mass., Jan. 7, 2026 — STRM.BIO, a biotechnology company pioneering non-viral delivery technologies for in vivo cell and gene therapy, today announced $8 million in Series Seed 2 financing. The financing provided by Recordati was supported by continued participation by existing investors Boehringer Ingelheim Ventures and Delos Capital, as well as new funding from Blue Bay Capital Fund. The Series Seed 2 round remains open, with the intent to close this round by Q1 2026.

Combined with a recent $8.4 million ARPA-H contract, STRM.BIO has secured $16.4 million in funding in recent months, underscoring investor confidence in the Company’s megakaryocyte-derived vesicle (MV) gene delivery platform with a focus on rare hematological diseases and in vivo CAR-T applications.

“We are excited to welcome Recordati as one of our lead investors and to have the continued support from Boehringer Ingelheim Ventures, Delos, and Blue Bay,” said Michael Luther, Ph.D., MBA, CEO of STRM.BIO. “We believe our platform is transformative for hematological diseases and the field of non-viral gene delivery. Now, with the backing that includes two leading pharma investors, we are well-positioned to validate our platform and pipeline focus for in vivo modification of bone marrow cells with an initial focus on Fanconi anemia, a rare hematological disease, with the potential to expand into other rare diseases.”

The company’s MV platform for in vivo gene therapy represents a novel, non-viral, cell-derived delivery modality with the potential to overcome many of the key barriers limiting current viral and synthetic in vivo gene delivery systems. The platform enables precise, efficient, and safe delivery of complex genetic cargos directly to bone marrow, with multiple dosing potential when needed. This technology is designed to create new pipeline opportunities for the in vivo engineering of immune and hematopoietic cells, addressing unmet medical needs and advancing the broader field of cell and gene therapy.

Proceeds from the Series Seed 2 financing will be used to reach key milestones related to platform validation and advance the Company’s pipeline toward clinical trials, and in support of efforts to raise a Series A round.

About STRM.BIO
STRM.BIO is a biotechnology company developing a non-viral, cell-derived delivery modality that enables safe, targeted, and scalable in vivo delivery of genetic medicines. Its megakaryocyte-derived vesicle (MV) platform is designed to address the limitations of traditional viral and synthetic delivery systems, unlocking new therapeutic opportunities across gene editing, RNA therapeutics, and immune cell engineering. STRM.BIO is headquartered in Cambridge, Massachusetts.

Learn more at www.strm.bio and follow us on LinkedIn.

SOURCE STRM.BIO

• Proceeds to drive global Phase 3 trial for ASP-1929, targeting BLA submission to the U.S. FDA in 2028
• Financing led by international life science fund TaiAx, with participation from the largest number of institutional investors in Rakuten Medical’s history, alongside strategic partners and current investors

SAN DIEGO, Jan. 7, 2026 — Rakuten Medical, Inc., a global biotechnology company developing and commercializing its proprietary Alluminox^® platform-based photoimmunotherapy, today announced the closing of a $100 million Series F financing round. This includes $70 million in new capital and the conversion of $30 million in convertible promissory notes with accrued interest.

This upsized financing doubles Rakuten Medical’s initial target, underscoring strong investor confidence in its execution capabilities and the potential of the investigational Alluminox platform-based photoimmunotherapy, an innovative cancer treatment modality.

Toward U.S. Approval of ASP-1929
Rakuten Medical will utilize the Series F proceeds to advance its top priority: securing U.S. regulatory approval for ASP-1929, Rakuten Medical’s designation for its first investigational photoimmunotherapy drug. The company is currently enrolling patients into its global Phase 3 trial (ASP-1929-381, NCT06699212), evaluating ASP-1929 photoimmunotherapy in combination with pembrolizumab as a first-line therapy for recurrent head and neck cancer. The proceeds will allow Rakuten Medical to strengthen its operational capabilities to accelerate enrollment in the U.S., Taiwan, Japan, Ukraine and Poland. Based on trial results, Rakuten Medical aims to submit a Biologics License Application (BLA) to the U.S. FDA in 2028.

Global Expansion and Broader Clinical Development
Rakuten Medical is leveraging the regulatory dossier submitted in Japan for its approved drug Akalux^® (ASP-1929) and the BioBlade^® Laser System device, along with post-market real-world data, to supplement its efforts in seeking approvals in additional countries. With support from strategic partners who have deep expertise in regional regulatory environments, the company aims to accelerate these efforts.

Disclaimer: Rakuten Medical’s Alluminox^® platform-based photoimmunotherapy is investigational outside Japan.

In parallel, Rakuten Medical is expanding development beyond head and neck cancer through internal programs and support for investigator-initiated trials (IITs). These studies will utilize grants and other funding sources to ensure efficient progress. Additionally, the company will continue driving commercial growth of ASP-1929 photoimmunotherapy for head and neck cancer in Japan, both to expand profitability for the Japan entity and to establish a reliable funding engine to fuel global expansion.

Development Program Beyond Head and Neck Cancer

• Solid tumors (including malignant skin tumors): Initiate Phase 1 trial of RM-0256 photoimmunotherapy in Japan in Q2 2026, supported by AMED¹ grant funding.
• Esophageal and gynecologic cancers: Support two ongoing IITs of ASP-1929 photoimmunotherapy in Japan; the gynecologic cancer IIT is supported by AMED funding.
• Pancreatic and non-small cell lung cancers: Support two planned IITs of ASP-1929 photoimmunotherapy in the U.S., potentially supported by external grants

International Composition of Investors
The Series F round was led by TaiAx Life Science Fund L.P. (TaiAx), an international life science venture capital fund. TaiAx was jointly established by Taiwania Capital Management, based in Taipei, Taiwan, and Axil Capital Group, based in Tokyo, Japan.

The round included the largest institutional investor group in company history, including major Japanese financial institutions—Daiwa Securities, Mitsui Sumitomo Insurance, Sumitomo Mitsui Banking—and Taiwanese venture firms ABIES Capital and Nexus CVC. Strategic partner OEP Group also joined, along with existing investors, including SBI Group, Rakuten Group, Inc. and Mickey Mikitani, Rakuten Group Chairman and CEO and Rakuten Medical CEO.

This round creates an exceptionally diverse investor base for Rakuten Medical, anchored in key global markets: the U.S., Japan and Taiwan.

Mickey Mikitani, CEO of Rakuten Medical, commented:
“Securing significant investment from leading life science investors underscores the strength of our technology and the excellence of our team. The Alluminox^® platform underlines a new treatment modality that requires advanced expertise in both drug development and medical device technology. Rakuten Medical is tightly focused and mission driven, having successfully developed, received approval for and commercialized an innovative therapy in 15 years. This financing will enable us to accelerate clinical development, expand our global reach and prepare for the next phase of growth.”

Michael Huang, Managing Partner of Taiwania Capital Management, commented:
“This oversubscribed Series F financing reflects our strong conviction in Rakuten Medical’s differentiated technology and its ability to address profound unmet medical needs. We are thrilled to lead this round and to form a strong, like-minded global syndicate united by a shared vision to advance the future of cancer care.”

Notes
1. Japan Agency for Medical Research and Development (AMED)

About the Alluminox^® Platform
The Alluminox^® platform is Rakuten Medical’s investigational technology that combines pharmaceuticals, medical devices, medical technology and other peripheral technologies. Rakuten Medical is developing Alluminox platform-based photoimmunotherapy, which involves two key steps: 1) drug administration, and 2) targeted illumination using medical devices. The drug component consists of a cell-targeting moiety conjugated to a light-activatable dye, such as IRDye^® 700DX (IR700), that selectively binds to the surface of targeted cells, such as tumor cells. The device component consists of a light source that locally illuminates the targeted cells with red light (690 nm) to transiently activate the drug. Rakuten Medical’s preclinical data have shown that this activation elicits rapid and selective necrosis of targeted cells through a biophysical process that compromises the membrane integrity of the targeted cells. Therapies developed on the Alluminox platform may also result in local and systemic innate and adaptive immune activation due to immunogenic cell death of the targeted tumor cells and/or the removal of targeted immunosuppressive cells within the tumor microenvironment. Photoimmunotherapy was originally developed by Dr. Hisataka Kobayashi and his team at the National Cancer Institute in the United States. Outside Japan, Rakuten Medical’s Alluminox platform-based photoimmunotherapy is investigational.

About ASP-1929
Rakuten Medical’s first pipeline drug developed on its Alluminox^® platform is ASP-1929, an antibody-dye conjugate comprised of the anti-epidermal growth factor receptor (EGFR) antibody cetuximab and IRDye^® 700DX, a light activatable dye. ASP-1929 binds to EGFR, a cancer antigen expressed in multiple types of solid tumors, including head and neck, breast, lung, colorectal, prostate and pancreatic cancers. After binding to cancer cells, ASP-1929 is locally activated by illumination with red light (690 nm), emitted by a laser device system to produce a photochemical reaction. This reaction is believed to cause damage to the membrane of cancer cells, leading to selective necrosis of cancer cells. In Japan, ASP-1929 received marketing approval from the Japanese Ministry of Health, Labor, and Welfare for unresectable locally advanced or recurrent head and neck cancer in September 2020, under the Sakigake Designation System and the Conditional Early Approval System. ASP-1929 photoimmunotherapy in combination with pembrolizumab is currently under investigation in a global Phase 3 clinical trial as a first-line therapy for recurrent head and neck cancer. Outside Japan, ASP-1929 has not yet been approved for commercial use by any regulatory authority.

About TaiAx
TaiAx Life Science Fund L.P. is a venture capital fund dedicated to advancing innovative technologies in the life sciences sector. The fund was established as a joint venture between Taiwania Capital, a Taiwan national investment company, and Axil Capital, a Japanese venture capital firm supported by the Mizuho Group. TaiAx’s investment focus broadly covers first-in-class therapeutics, gene and cell therapies and AI-driven medical products, among other novel technologies addressing unmet medical needs. The TaiAx team is actively evaluating investment opportunities globally, with a particular focus on Taiwan, Japan and North America.

About Rakuten Medical, Inc.
Rakuten Medical, Inc. is a global biotechnology company developing and commercializing its Alluminox^® platform-based photoimmunotherapy, which has been shown to induce rapid and selective cell killing. Rakuten Medical’s photoimmunotherapy is currently investigational outside Japan. Rakuten Medical is committed to its mission to conquer cancer by developing its pioneering treatments as quickly as possible to as many patients as possible all over the world. The company has offices in five countries/regions, including the United States, where it is headquartered, Japan, Taiwan, Switzerland and India. For more information, visit www.rakuten-med.com.

Forward Looking Statements
This press release contains forward-looking statements. These statements speak only as of the date of this press release and are subject to a number of risks, uncertainties, and assumptions that may cause Rakuten Medical’s business plans and results to differ from the anticipated results and expectations expressed in these statements. These “forward looking statements” contain information about the plans, status and development of our research, clinical trials and products, including the Alluminox^® platform, combination therapies, product and developmental candidates and related medical devices, as well as our commercial activities, other regulatory and marketing authorization efforts; the potential benefits, efficacy, and safety of our product candidates or other therapies created using the Alluminox platform, and the status, plans and timing of regulatory filings and approvals therefor; plans to advance other pipeline product candidates or discovery efforts; the Company’s ability to leverage learnings from experiences in ASP-1929 photoimmunotherapy; and the intended use of proceeds from the financing. The approval and commercial success of any of our products or product candidates may not be achieved. Such statements may include words such as “expect,” “believe,” “hope,” “estimate,” “looks as though,” “anticipate,” “intend,” “may,” “suggest,” “plan,” “target,” “contemplate,” “predict,” “potential,” “continue,” “strategy,” “will,” and “do”, and are based on our current beliefs. In addition, this press release uses terms such as “important,” “notable,” and “abnormal” to express opinions about clinical trial data. Ongoing clinical trial studies include various risks and uncertainties, in particular, problems that arise during the manufacturing stage of our therapies, the occurrence of adverse safety events and situations and failure to demonstrate therapeutic benefits, and other various risks and uncertainties, both reasonable and unreasonable. For this reason, actual results, including regulatory approvals and uncertainties in the commercialization process of our therapies, may differ from published information. Except to the extent required by applicable law, we undertake no obligation to publicly update this or any other forward-looking statement, whether because of new information, future developments or events, changes in assumptions, changes in the factors affecting forward-looking statements. If one or more forward-looking statement(s) is updated, no inference should be drawn that additional updates will be made to those or other forward-looking statements.

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SOURCE Rakuten Medical, Inc.

Series B Co-led by New Investors Amplitude Ventures and ICG

MTX-474 Global Phase 2a study Initiated in Systemic Sclerosis (SSc)

MTX-463 Global Phase 2a Study in Idiopathic Pulmonary Fibrosis (IPF) Enrolling & Partnered with Lilly

MTX-439 Advancing to Phase 1 studies for Fibrosis Associated with Chronic Kidney Disease (CKD)

BOSTON, Jan. 7, 2026 — Mediar Therapeutics, Inc., a clinical-stage biotechnology company advancing first-in-class therapies designed to halt fibrosis, today announced an oversubscribed $76 million Series B financing co-led by Amplitude Ventures and ICG, with participation from new investors Longwood Fund, Asahi Kasei Pharma Ventures, Alexandria Real Estate Trust (ARE), and existing Series A investors. Joining the Mediar board from Amplitude Ventures is Bharat Srinivasa, PhD, and from ICG is Allan Marchington, PhD. Proceeds from the financing will further support advancement of Mediar’s wholly owned assets, including MTX-474, an antagonist of EphrinB2, being studied in a Phase 2a study in patients with systemic sclerosis (SSc), and MTX-439, a SMOC2 antagonist, proceeding to Phase 1 studies for the treatment of chronic kidney disease (CKD) associated fibrosis.

“It has been a transformative 12 months for Mediar, from our deal with Eli Lilly and Company on MTX-463, to this oversubscribed Series B financing with leading biotech investors,” said Rahul Ballal, PhD, Chief Executive Officer of Mediar Therapeutics. “With $175 million raised through these transactions, we can advance our novel anti-fibrotics through clinical studies and potentially bring life-changing therapies to patients suffering from fibrosing diseases of the skin, lung, and kidney. I would like to take this moment to thank our entire Mediar team for their dedication and demonstration that direct targeting of the myofibroblast holds promise to halt fibrosis.”

The company has initiated the EncompaSSc trial, a randomized, double-blinded, placebo-controlled 24-week Phase 2a study designed to evaluate the efficacy, safety, and tolerability of MTX-474 in approximately 90 patients living with SSc, using the validated mRSS (Modified Rodnan Skin Score) tool, as the primary endpoint.

“The EncompaSSc study marks an important milestone in our effort to bring new treatment options to patients living with SSc,” said Lorinda Chung, MD, MS, Global Principal Investigator of the trial and professor of Medicine and Dermatology at Stanford Medicine. “Emerging research shows that EphrinB2 signaling may contribute to the progression of fibrosis in multiple organ systems impacted by systemic sclerosis. These patients have a large unmet need, and this Phase 2a trial will allow us to evaluate MTX-474’s potential to treat patients suffering with this disease.”

“By addressing the fundamental causes of fibrosis, Mediar is paving the way for transformative clinical advances in the field,” said Allan Marchington, PhD, Head of Life Sciences at ICG. “We are proud to co-lead this financing to accelerate these vital therapies.”

“We are excited about Mediar’s unique approach to targeting fibrosis across multiple organ systems,” added Bharat Srinivasa, PhD, Principal at Amplitude Ventures. “Together, we aim to translate this deep scientific understanding into novel therapies that positively impact patient lives.”

The company is also finalizing an IND-enabling package for MTX-439, a SMOC2 antagonist, for the treatment of fibrosis associated with chronic kidney disease (CKD), with plans to initiate Phase 1 studies in the first half of 2026.

About MTX-474

MTX-474 is a first-in-class human IgG1 antibody designed to neutralize the EphrinB2 signaling that causes the onset and progression of fibrosis. Ephrin ligands and Eph receptors mediate biological processes involved in tissue fibrosis including cell migration, myofibroblast activation, and tissue remodeling. A growing body of evidence has implicated EphrinB2 in the fibrosis of the skin, lungs, and heart. Expression of EphrinB2 and its receptors are measurable in human blood and correlates with disease severity. A Phase 1 study was recently completed and a Phase 2 clinical study in patients with SSc is now open (NCT07287670). More information can be found at www.encompassctrial.com

About MTX-463

MTX-463 is a first-in-class human IgG1 antibody developed against WNT1-inducible signaling pathway protein-1 (WISP1). WISP1 is a secreted matricellular protein shown to have a relevant role in fibrosis progression, is measurable in human blood, and correlates with disease severity. Data indicates that MTX-463 neutralizes WISP1-mediated fibrotic signaling and significantly reduced fibrosis in vitro and in various preclinical models. A Phase 1 study was recently completed and a Phase 2 study in patients with IPF is now open (NCT06967805). More information can be found at: www.wispertrial.com

About MTX-439

MTX-439 is a first-in-class human IgG1 antibody engineered to inhibit the activity of SPARC-related modular calcium-binding protein 2 (SMOC2). SMOC2 has been shown to promote extracellular matrix assembly and cell adhesiveness. SMOC2 is a driver of renal fibrosis and SMOC2 levels are elevated in patients with chronic kidney disease, both in the tissue and in circulation. MTX-439 selectively binds to SMOC2 and neutralizes its activity significantly reducing fibrosis in multiple preclinical models. MTX-439 is anticipated to enter Phase 1 studies in the first half of 2026.

About Mediar Therapeutics

Mediar Therapeutics is pioneering a new approach to fibrosis treatment that aims to halt the disease at a different source – the myofibroblast, the key pathogenic cell in fibrosis that drives scarring, disease progression, and ultimately organ failure. Mediar was founded based on a deep understanding of the complex science underlying fibrosis progression. By combining novel targets with reliable, easily detectable blood biomarkers and familiar modalities, Mediar’s goal is to bring forward novel anti-fibrotic therapies that potentially have a precision medicine approach. For more information, contact [email protected] or follow us on LinkedIn.

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SOURCE Mediar Therapeutics