Completion of submission batches and NDA-ready CMC package strengthens regulatory foundation for upcoming Phase 2b/3 trials and underscores Sen-Jam’s leadership in immunoregulation and inflammaging.

HUNTINGTON, N.Y., Sept. 26, 2025 — Sen-Jam Pharmaceutical, in partnership with KVK Tech, today announced the successful completion of the final development deliverables under their Development, Manufacturing, Distribution, and Licence Agreement. KVK Tech has manufactured the required submission batches of SJP-002C and finalized the Chemistry, Manufacturing, and Controls (CMC) package, meeting FDA standards and positioning the program for Phase 2b/3 clinical trials.

SJP-002C is a patented novel combination of indomethacin, a potent non-steroidal anti-inflammatory drug, and ketotifen, an H1-antihistamine and mast cell stabilizer. Together, they address inflammation while reducing the gastrointestinal risks typically associated with NSAIDs.

“This milestone is about more than manufacturing readiness,” said Jackie Iversen, RPh, MS, Co-Founder and Head of Clinical Development at Sen-Jam Pharmaceutical. “It reflects our broader mission to advance a new class of immunoregulators that restore balance to the immune system. By targeting inflammaging and immunosenescence, we are building a pipeline with potential far beyond acute conditions—positioning SJP-002C as both a near-term therapeutic and part of a longer-term longevity strategy.”

“We are proud to support Sen-Jam by completing the submission batches and CMC package for SJP-002C,” said Kiran Vepuri, Executive Vice President of Business Development at KVK Tech. “Our focus has been on quality and readiness so that Sen-Jam can proceed into late-stage clinical studies without delay. As both a strategic partner and equity holder in Sen-Jam, we are deeply committed to advancing much-needed therapies together.”

Importance of the Milestone

• Regulatory Readiness: Completion of three validated submission batches and a full CMC package suitable for late-stage clinical and regulatory requirements.
• De-Risking the Program: Manufacturing and stability work complete, allowing clinical development to advance on schedule.
• Scientific & Strategic Validation: Recent commentary from Oppenheimer Research noted the role of immunoregulators in addressing inflammaging, highlighting Sen-Jam’s pipeline as a differentiated opportunity in the longevity sector.
• Strong Intellectual Property: Sen-Jam’s global patent estate, now including a manufacturing process patent for SJP-002C, provides robust protection and commercialization leverage.
• Next Step – Phase 2b/3 Trials: With CMC deliverables complete, SJP-002C is now positioned to begin the next phase of clinical testing.

About Sen-Jam Pharmaceutical
Sen-Jam Pharmaceutical is pioneering a new era of anti-inflammatory therapeutics, combining speed-to-market with accessibility and global health impact. Backed by more is raising capital at wefunder.com/senjam

About KVK Tech
KVK Tech is a U.S.-based, FDA-registered pharmaceutical manufacturer committed to providing high-quality, affordable medicines. With state-of-the-art facilities and deep expertise in formulation and CMC, KVK partners serves as Sen-Jam’s exclusive U.S. manufacturing and distribution partner, KVK Tech is also an equity holder in Sen-Jam, underscoring its long-term commitment to the success of SJP-002C and future programs.

CONTACT INFORMATION:

Sen-Jam Pharmaceutical

Christine Leonard

781-913-1902

[email protected]

SOURCE Sen-Jam Pharmaceutical

A roundup of the most newsworthy financial press releases from PR Newswire this week, including several big M&A announcements, blockchain updates and a look at employees’ retirement confidence.

NEW YORK, Sept. 26, 2025 — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

1. Compass Announces Combination with Anywhere Real Estate in All-Stock Transaction
   The combined company is expected to have an enterprise value of approximately $10 billion, including the assumption of debt. This transaction pairs Compass’ years of investment in technology, innovative marketing offerings, and real estate professionals with Anywhere’s leading brands, broader and complementary businesses, and global reach.
2. PayPal Invests in Stablecoin-Focused Layer 1 ‘Stable’ to Expand PayPal USD Distribution, Utility, and Liquidity
   “This work with Stable reflects our commitment to expanding PYUSD’s utility across multiple blockchain ecosystems and driving adoption. Stable’s focus on fast, seamless financial transactions using stablecoins removes traditional friction points for users,” said David Weber, Head of PYUSD Ecosystem, PayPal.
3. Fermi America™ Announces Launch of Initial Public Offering
   The initial public offering price is expected to be between $18 and $22 per share. Fermi America intends to list its common stock on the Nasdaq Global Select Market and the London Stock Exchange under the ticker symbol “FRMI.”
4. AgriFORCE Growing Systems (AGRI) to Launch as First Publicly-Traded Avalanche-Focused Company on NASDAQ with a $550 Million Capital Raise Strategy
   Avalanche is a high-speed, institutional-grade blockchain designed to be a foundational digital settlement layer for the future of finance. Its technology allows global leaders like KKR, Apollo and J.P. Morgan Chase to launch their own custom, compliant blockchains for the tokenization of real-world assets.
5. Alkami Releases Annual Budgeting & Strategies Playbook for Financial Institutions
   The Playbook is designed to serve as a comprehensive guide for regional and community financial institutions to understand market dynamics, align digital strategy with consumer perceptions and expectations, and make informed technology investments that can accelerate growth through outcomes driving their business.
6. Allwyn to acquire majority stake in PrizePicks, creating a new force in global entertainment
   Allwyn has agreed to purchase an approximately 62.3% stake in PrizePicks for an expected initial cash consideration of USD 1.6 billion, implying an upfront enterprise value of USD 2.5 billion. PrizePicks has offered fans new ways to engage with their favorite sports – including free-to-play games and a peer-to-peer tournament-style offering, which enables fans to test their skills against other players.
7. DeFi Technologies and SovFi Unveil Full-Stack Sovereign Finance Framework to Modernize the $100T+ Sovereign Debt Market
   “The SovFi framework represents a natural evolution bringing sovereign debt into the digital era with instruments that not only preserve principal but also potentially appreciate over time. This is a once-in-a-generation innovation that positions DeFi Technologies at the heart of solving the most pressing financial challenge of our era: national debt,” said Andrew Forson, President of DeFi Technologies.
8. Retirement Confidence High Among US Employees, Yet Many Make Basic Financial Mistakes
   According to the fifth annual Protected Retirement Survey from the Nationwide Retirement Institute, 79% of workers self-report a positive outlook on their retirement savings – a 14-point increase over 2024. However, those who express the highest levels of confidence are more likely to make decisions that could undermine their financial futures.
9. IAS to be Acquired by Novacap for $1.9 Billion to Further Support Its Strategic Goals
   The transaction, which has been unanimously approved by the IAS Board of Directors, is expected to close before the end of 2025, subject to customary closing conditions, including receipt of required regulatory approvals. Upon completion of the transaction, IAS will become a privately held company and IAS common stock will no longer be listed on any public market.
10. Capital Rx Announces Funding Round of $400M to Accelerate AI-Powered Health Benefits Platform; Rebrands as “Judi Health” to Reflect Expansion Beyond Pharmacy
    The oversubscribed financing round will help the company expand its PBM operations and fuel the deployment of Judi Health’s Enterprise Health Platform (EHP) to bring a full suite of employer-facing health benefits services that meet evolving customer needs with clarity and flexibility.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

• Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
• Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
• Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
• Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

About PR Newswire

PR Newswire is the industry’s leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world.

For questions, contact the team at [email protected].

SOURCE PR Newswire

A roundup of the most newsworthy tech announcements from PR Newswire this week, including the merger of Compass and Anywhere, the launch of Amplify by PR Newswire and a new report on banking’s AI future.

NEW YORK, Sept. 26, 2025 — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help tech journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

1. Compass Announces Combination with Anywhere Real Estate in All-Stock Transaction
   This transaction pairs Compass’ years of investment in technology, innovative marketing offerings, and real estate professionals with Anywhere’s leading brands, broader and complementary businesses, and global reach. The combination of these companies will create a premier real estate platform, enabling agents and franchisees to best serve home sellers and home buyers.
2. Capital Rx Announces Funding Round of $400M to Accelerate AI-Powered Health Benefits Platform; Rebrands as “Judi Health” to Reflect Expansion Beyond Pharmacy “By combining a transparent PBM model with a scalable, AI-powered platform, they’re building the infrastructure for the next generation of health benefit administration. Employers are demanding better solutions, and Judi Health is uniquely positioned to meet that moment,” said Joshua Sommerfeld, Healthcare Sector Lead at Wellington Management.
3. Hitachi agrees to acquire German data and AI services firm synvert to accelerate Agentic AI and Physical AI development, driving global expansion of HMAX business synvert is a leading consulting firm in the data and AI space, delivering advanced expertise in AI-driven business design, data access and governance, integration, and operations. With a portfolio of over 200 clients, synvert helps enterprises unlock value and drive intelligent, data-powered transformation.
4. Filevine Raises $400M with Insight, Accel, and Halo Fund to Scale Legal Intelligence The company will use proceeds from the raise to further its lead in serving litigators, attract top talent, and deepen its base of enterprise and government customers. With its scale, proprietary data, and embedded AI, the company is positioned to define the future of the legal technology market.
5. AppZen Raises $180 Million Growth Round Led by Riverwood Capital to Take the Next Step in Autonomous Finance The Series D fundraise allows AppZen to further accelerate the adoption of agentic AI at the enterprise, converting standard operating procedures into configurable, production-ready, digital coworkers, enabling CFOs and controllers to replace over 50% of manual work and scale operations without additional headcount or BPO.
6. PR Newswire Launches Amplify: AI Platform to Accelerate Modern PR and Communications Capabilities A new platform gives communicators the tools to transform a single press release into a full-scale campaign, ensuring their message breaks through to global audiences and AI alike. Visibility isn’t enough – ownership is everything. With Amplify, PR Newswire gives brands the power to plan, create, and control their narrative like never before.
7. Axxess Partners With Helper Heroes to Provide Virtual Assistant Staffing Services to Clients “Our partnership with Helper Heroes highlights Axxess’ commitment to the growth and operational efficiency of our clients,” said Robin Van Sickle, vice president of channel partnerships at Axxess. “Helper Heroes enables clients to outsource administrative tasks like scheduling, follow-ups and data entry, reducing operational strain while prioritizing care delivery.”
8. Circuit & Chisel Secures $19.2 Million and Launches ATXP, a Web-Wide Protocol for Agentic Payments “AI agents are increasingly navigating the web and transacting on our behalf and that requires an entirely new monetization infrastructure,” said Emily Man, Partner at Primary Venture Partners. “ATXP, enables instant, nested, delegated, and extremely low cost micropayments between AI agents, something that traditional payments rails can’t support.”
9. GraceBlocks Integrates Google’s Gemini AI Models to Deliver Custom, Automated Solutions for SMBs and HR Teams By embedding Gemini models directly into its platform, GraceBlocks allows users to automate tasks like data extraction from resumes, perform sentiment analysis on employee feedback, and generate personalized communications, transforming how businesses manage their core processes.
10. Banking’s AI future: Industry executives reveal 5 lessons for responsible and profitable transformation On the eve of Sibos 2025, a new report from SAS, From Algorithms to Impact: Banking’s AI Future, presents perspectives from forward-looking executives at Banorte (Mexico), Intesa Sanpaolo (Italy), Millennium BCP (Portugal) and Old National Bank (US) – institutions proving that practical AI innovation doesn’t depend on size. The report distills their insights into five essential lessons for charting a responsible and profitable path.
11. GoPro Announces Three New Products – MAX2: 360 Camera with True 8K Resolution and Twist-and-Go Replaceable Lenses, LIT HERO: Miniature 4K Lifestyle Camera with Built-In Light for ‘Whatever, Whenever’ Capture, and Fluid Pro AI: Gimbal for Stabilizing GoPros, Phones and Other Cameras “This year’s new products diversify GoPro’s lineup like never before, delivering exciting new capabilities to today’s demanding content creators, adventurers and enthusiasts,” says GoPro Founder and CEO Nicholas Woodman.

For more news like this, check out all of the latest technology-related releases from PR Newswire.

Do you have a technology press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

• Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
• Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
• Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
• Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

About PR Newswire

PR Newswire is the industry’s leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world.

For questions, contact the team at [email protected].

SOURCE PR Newswire

SANTA MONICA, Calif., Sept. 25, 2025 — Emerald Lake Capital Management (“Emerald Lake“), a growth-oriented middle market private equity firm, today announced it has made an equity investment in CORE Transformers (“CORE” or the “Company”). Terms of the transaction were not disclosed.

Headquartered in Seneca, South Carolina, CORE is a provider of new and reconditioned transformers and repair solutions to the commercial, industrial, data center, and renewable energy markets in the United States. CORE’s highly successful leadership team, with nearly a century of combined industry expertise, will benefit from the industry experience, knowledge, capital, and human resources that Emerald Lake brings to the partnership.

“We are excited to partner with some of the most respected executives in the transformer industry,” said Dan Lukas, Managing Partner of Emerald Lake. “CORE has built an impressive reputation as a mission-critical partner and product specialist for value added resellers, contractors, distributors, and renewable power developers. We look forward to supporting the Company’s continued growth and commitment to its mission of providing safe, reliable, and sustainable transformer solutions. CORE’s differentiated service offerings of speed, customization, and ease of doing business align perfectly with Emerald Lake’s strategy of backing businesses with strong competitive positions in markets with long-term tailwinds.”

“Partnering with Emerald Lake marks an important milestone for CORE,” said Randall Maddox, Co-founder and President of CORE. “We have found a partner that shares our vision and culture, exhibits complementary skills, and has vast contacts across vendors, customers, and top level staff that have already opened growth opportunities.”

Emerald Lake intends to support CORE through strategic investments in talent, technology, and inventory, while also pursuing select acquisitions to broaden the Company’s service offerings and strengthen its market position.

About Emerald Lake Capital Management
Emerald Lake is a middle market private equity firm investing in capital-efficient businesses with sustainable competitive advantages and strong growth prospects in the industrials and services sectors. Emerald Lake seeks to accelerate company growth and unlock potential through supportive, trusting partnerships with management teams and a proven-value creation strategy. Founded in 2018, the firm manages approximately $1.6 billion of equity capital and has made ten platform investments to date. For more information, please visit www.elcm.com.

About CORE Transformers
CORE Transformers is a premier supplier of new and reconditioned transformers for the commercial, industrial, renewable, and critical power markets. CORE provides speed, ease of communication, and better performance all around to meet the needs of its industrial and commercial customers. For more information, please visit www.coretransformers.com.

Media Contact
Kate Thompson / Sarah Salky
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
[email protected]

SOURCE Emerald Lake Capital Management

NEW YORK, Sept. 25, 2025 — Moby, the platform democratizing Wall Street-level investing insights, today announced it has closed a $5 million seed round at a $30M valuation, led by IA Capital Group, with participation from Alumni Ventures and prominent angel investors including former c-suite executives from Morgan Stanley, Fidelity, Cash App, Tifin, and Wunderkind.

The funding will accelerate Moby’s momentum. In addition to 600% growth in paid subscribers over the past year, a now 100+ million quarterly views across platforms, and nearly 100K monthly app users, Moby’s freemium product has grown to 300K subscribers (targeting 500K by year-end and 1M+ in 2026).

Retail investors can trade commission-free all day long, but they’re still making decisions with consumer-grade information while institutions have access to research and data that costs millions. It’s like bringing a calculator to a supercomputer fight. That’s why Moby is building a proprietary AI engine — one that ingests the same data sources used by top institutions and transforms them into clear, accessible insights that empower everyday investors to make smarter decisions.

And instead of a gamified trading app with virtual confetti, Moby users are getting up-to-the-minute analysis tailored to their investment goals. What they see throughout the day is the kind of content that sounds like their best friend in finance had a personality.

“We spent years on Wall Street watching regular people make investment decisions based on headlines and hot tips,” said Justin Kramer, Moby’s co-founder. “Meanwhile, we had teams of researchers, real-time data feeds, and sophisticated models. That seemed fundamentally unfair.”

“The retail investing space is full of either oversimplified robo-advice or completely overwhelming data dumps,” added co-founder Dan Remstein. “We’re building the middle path: sophisticated insights delivered in a way that respects people’s time and intelligence.”

“The March 2025 NBER/NYU study revealed that retail investors spend just six minutes researching a stock before buying —time that’s too often spent on price charts, not fundamentals. Moby is flipping that script with institutional-grade insights that empower smarter decisions, and their explosive growth proves the demand. We’re excited to back Justin, Dan, and the Moby team as they reshape how retail investors make decisions.” — Ravi Shah, Principal at IA Capital Group

The fresh funding will accelerate hiring, power the development of its next-generation mobile platform, enhance AI-driven analytics, and fuel strategic partnerships to expand Moby’s reach.

About Moby

Moby transforms how individual investors access institutional-quality investing insights. By combining Wall Street expertise with consumer-first design, the platform delivers actionable market intelligence that was previously exclusive to professional investors. From investing newcomers to seasoned portfolio managers, Moby serves anyone who believes better information leads to better decisions.

Media Contact: 

JK – [email protected]

SOURCE Moby

Latest funding led by Bessemer Venture Partners will accelerate continued expansion as the Fortune 500 rapidly scale AI coaching initiatives

NEW YORK, Sept. 25, 2025 — Valence, the company behind Nadia, the world’s first enterprise AI coach, today announced it has raised a $50 million Series B led by Bessemer Venture Partners. Sameer Dholakia, Partner at Bessemer, will join Valence’s board, bringing both CEO operating experience and perspective from AI investments in Anthropic, Abridge, and EvenUp.

Valence is pioneering a new category of enterprise software: AI coaching. Nadia, its flagship AI coach, is now deployed at scale across Fortune 500 companies, including Experian, Delta Air Lines, Kraft Heinz, and General Mills. Across 50+ global deployments and one million coaching conversations, Nadia has consistently had NPS scores of 90+.

Nadia democratizes access to high-quality, personalized coaching, which was once an investment only available to the most senior executives. Nadia also provides a channel for HR teams to tackle some of the most pressing challenges of modern work — adapting to AI and new ways of working, addressing rising burnout across industries, and enabling the largest companies to operate at the speed of technological change.

“AI coaching represents an entirely new category of enterprise software, one that is both deeply personal for the individual and transformational for HR at scale,” said Dholakia. “With Nadia, Valence has proven that AI can democratize access to effective, context-rich coaching. We see Valence as an extraordinary example of how AI can dramatically improve the lives and careers of all employees.”

Valence has been building Nadia since December 2022, launching the coach in early 2023, making Nadia the first AI coach to market. Today, it is one of the most advanced agentic AI systems in use at global scale. Unlike general AI models, Nadia is powered by a proprietary memory-and-context engine, and each deployment is customized to a company’s culture, workflows, and leadership models to deliver coaching that is personalized, actionable, and right there in the flow of work.

Enterprises are seeing measurable impact with Nadia. Experian has embedded Nadia into its performance management process, with a third of its global workforce now actively using the coach. Delta Air Lines has rolled Nadia out to frontline leaders to provide real-time support and improve customer service across large teams. Analog Devices has given Nadia to its global workforce, supporting first-time technical managers with leadership coaching in 30+ languages.

“We’ve been closely monitoring the AI space, especially coaching, and Nadia stood out. We brought her in last year to scale personalized coaching across ADI, and employees loved it. We are now doubling down, customizing her to all things Analog Devices and beginning to deeply embed her in our talent strategy and programs. We’re very excited about how Nadia can bring a more personalized, people-oriented talent strategy to life,” said Mariya Trickett, Chief People Officer at Analog Devices.

Valence will use the new funding to accelerate product development, expand go-to-market efforts, deepen partnerships with the world’s largest enterprises, and grow the team. The company is actively recruiting for roles worldwide, and interested candidates can explore opportunities at valence.ai/careers. Valence is also investing heavily in governance, security, and trust—ensuring that Nadia is not only compliant with global standards but designed with safety and responsibility as first principles.

“Every worker will have an AI coach,” said Parker Mitchell, co-founder and CEO of Valence. “The question is whether that coach simply gives answers, or whether it truly transforms how people learn, perform, and work together. Nadia is the first enterprise AI coach that helps people and organizations thrive in the AI era.”

About Valence

Valence is the creator of Nadia, the most widely deployed and deeply trusted AI coach across the Fortune 500. Leading enterprises, including Experian, Delta Air Lines, Prudential, WPP, and General Mills, use Nadia at scale. With over one million coaching conversations and counting, Nadia empowers people in their daily work. Purpose-built for the enterprise, Nadia combines personalization, context, and organizational alignment to help every employee perform at their best while giving HR leaders a transformative platform to drive culture, performance, and development globally. Learn more at https://www.valence.co.

SOURCE Valence

Funding supports clinical trials of a minimally invasive therapy targeting a root cause of heart failure; co-founder Zoar Engelman, PhD, appointed CEO

NEW YORK, Sept. 25, 2025 — Axon Therapies, a clinical-stage medical device company pioneering a new approach to treating heart failure, today announced the close of an oversubscribed $32 million Series A financing. The round was co-led by new investors Earlybird Venture Capital and Santé Ventures, with participation by existing investor Deerfield Management and new investors CD Capital and KOFA Healthcare.

The financing will accelerate Axon’s next phase of clinical development, including two double-blinded randomized feasibility studies in heart failure – a condition that affects millions of people worldwide with limited treatment options. The first is a confirmatory study for its novel splanchnic ablation therapy in patients with Heart Failure with Preserved Ejection Fraction (HFpEF). The second is a multiple-center study of splanchnic ablation in Failure with Reduced Ejection Fraction (HFrEF).

In conjunction with the financing, the company announced that Zoar Engelman, PhD, Axon’s co-founder and former Chief Scientific Officer, has been appointed Chief Executive Officer.

“Heart failure is one of the leading causes of hospitalization and death worldwide, yet patients still face a lack of effective treatment options,” said Dr. Engelman, CEO of Axon Therapies. “Our implant-free, minimally invasive therapy is designed to address a core physiological driver of the disease. This funding positions us to advance to pivotal trials and bring hope to patients who urgently need new solutions.”

Axon’s proprietary approach, Splanchnic Ablation for Volume Management (SAVM), targets overactivity in the sympathetic nervous system, a key mechanism that worsens heart failure. The company’s Satera™ Ablation System is a catheter-based, implant-free procedure that has the potential to slow disease progression and improve quality of life for patients.

Axon Therapies has also established a new European headquarters, Axon Vascular Europe Ltd, in the UK. “The opening of our new European headquarters in the UK provides a focused hub to accelerate our clinical trial efforts and strategically positions us for future entry into the large European heart failure market,” noted Dr. Engelman.

“Our investment in Axon Therapies was driven by a clear vision to address a large unmet clinical need and improve the lives of patients with heart failure,” said Dr. John Yianni, Partner at Earlybird Venture Capital. “With Dr. Engelman’s leadership and the team’s groundbreaking technology, we are excited to support Axon as they advance solutions that can make a real difference for patients and their families.”

“Axon’s technology represents a first-in-class solution poised to capture a multi-billion-dollar market, making it a highly attractive asset for any major cardiovascular player,” added Dr. James Eadie, Managing Director and Partner at Santé Ventures. “These randomized feasibility studies are designed to significantly de-risk the therapy and establish a strong foundation ahead of a pivotal trial, creating what we believe will be a cornerstone technology for the right strategic partner.”

About Heart Failure

Heart failure affects more than 64 million people globally and is responsible for over 1 million hospitalizations annually in the U.S. alone. Despite advances in pharmaceuticals and devices, many patients remain symptomatic with few effective options.

About Axon Therapies

Axon Therapies is a private MedTech company developing minimally invasive therapies that address the root causes of heart failure. Its lead innovation, SAVM using the Satera™ Ablation System, enables targeted ablation of the overactive sympathetic nervous system without the need for an implant. Founded by MedTech incubator Coridea, Axon is backed by healthcare investors including Deerfield Management, Earlybird Venture Capital, Sante Ventures, CD Capital, and KOFA Healthcare.

Learn more at www.axontherapies.com.

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Burnt’s AI Agents Automate Operational Workflows Stuck in Legacy Systems & Manual Inputs

SAN FRANCISCO, Sept. 25, 2025 — Burnt today announced a $3.8M seed funding to build an AI-powered OS to automate repetitive operational work slowing down the global food supply chain, an integral part of the $9 trillion food industry. Burnt’s agentic platform automates monotonous workflows stuck in ERPS, working with existing legacy systems to accelerate them, not replace them. The round is led by Penny Jar Capital, with participation from Scribble Ventures, Formation VC, and prominent angel investors, including Dan Scheinman, food industry leaders and AI influencers.

“The food supply chain runs on relationships, hustle, and a thousand moving parts—but behind every order is a team buried in emails, messages, voicemails, and spreadsheets, manually trying to keep everything on track,” said Joseph (“JJ”) Jacob, Co-founder and CEO, Burnt. “I’ve experienced this first-hand, from working the shrimp factory floor to managing global procurement, and when I couldn’t find a solution, I began building one. With Burnt, we are creating supply chain superintelligence to eliminate the repetitive, invisible work and give time back to the people keeping the food industry moving.” 

The food supply chain is held back by legacy systems designed to securely store data in silos, not intelligently adapt to the dynamic, complex interconnectivity—and manual inputs—of the food industry. Beginning with an operational agent, Burnt captures orders from any source, such as emails, voicemails, and spreadsheets, and automatically inputs the data into existing ERP systems faster and more accurately. A sales order takes about 10 minutes to process, with hundreds coming in every minute—meaning an entire day is spent processing orders. With Burnt, the time per order takes seconds, essentially giving back a full workday to focus on customers. Burnt plans to expand with additional agents for teams across procurement, distribution, accounting, finance, and compliance.

Burnt is processing over $10 million worth of orders monthly for initial customers including top food distributors across meat, seafood and specialty foods, such as La Tua Pasta. Nicholas Hanson, Managing Director, La Tua Pasta, said, “After using other softwares that start-ups built, I saw why Burnt is different—they actually get the weird, wacky nuances of our world. They were relentless in making my team happy, and that’s why I backed them in their seed round. Now I can’t even imagine what life was like before Burnt.”

As graduates of Y Combinator’s S25 batch, Burnt’s founders are generational supply chain entrepreneurs with extensive expertise in every stage of the food supply chain – from farm to table. JJ (Joseph Jacob), Co-Founder and CEO, is a fourth-generation food supply chain entrepreneur, starting his career in a shrimp factory, before leading global procurement for one of the largest shrimp importers in America, to working at a Benchmark backed B2B marketplace for restaurants and suppliers called Rekki, building at the intersection of legacy food supply chain and venture-backed technology companies. Rhea Karimpanal, Co-Founder and CPO, is a third-generation food supply chain entrepreneur with roots in India’s spice trade, and experience building products and services for legacy industries like hospitality and travel with venture-backed companies like Fora Travel. Chandru Shanmugasundaram, Co-Founder and CTO, is a third-generation industry entrepreneur who started his technology career by building an in-house ERP for his father’s printing press company before holding key engineering roles with India’s top unicorn tech companies.

“JJ brings unmatched expertise to the food industry. He has lived every layer of it—from the factory floor to managing hundreds of millions in procurement—and that kind of knowledge can’t be picked up quickly by others. It comes only from years of firsthand exposure to the way this industry truly operates,” said Bryant Barr, Founding Partner, Penny Jar Capital. “That depth, combined with his relentless drive and refusal to accept the status quo, is why we bet on JJ and his team—and why we believe they’ll win.”

“What impresses me most about the Burnt team is they are not just outsiders looking to disrupt a historic industry with radical technology. Instead, they’ve lived this life and know all the nuances in workflows and where the real opportunity is to help,” said Dan Scheinman, angel investor. “That insider experience is exactly the kind of founder-market fit we look for.”

“Many founders are attacking obvious industries with agentic capabilities, but there are others that don’t get the same limelight where the opportunity set is equally massive. Food distribution is a $300 billion industry running on legacy systems that were installed some 25 years ago. It effectively skipped the SaaS generation. Any modern piece of software that breaks through will be in large part to a team’s customer sensibilities,” said Solly Garber, Formation. “JJ spent his entire life in this industry and it shows in the way the Burnt team architected and brought the product to market. We are seeing really encouraging early signs and think Burnt can one day be the central nervous system of the food distribution.”

“While the food supply chain relies on technology, there are still so many headaches and low efficiency workflows that result in massive opportunity costs,” said Elizabeth Weil, Founder & GP at Scribble Ventures. “Given their deep industry knowledge, the Burnt founders are the right team to build an AI solution that gives time back to the people who keep the food industry moving.”

About Burnt
Burnt is building superintelligence to strengthen the global supply chain. The company’s agentic platform will automate workflows stuck in legacy ERP systems – starting with the food supply chain. Founding members Joseph Jacob, Rhea Karimpanal and Chandru Shanmugasundaram, are generational supply chain entrepreneurs with extensive expertise from sales, to procurement and operations. For a demo and more information, please visit https://www.getburnt.ai/.

Press Contact
Teresa Brewer
[email protected]
408-368-6415

SOURCE Burnt

NEW YORK, Sept. 25, 2025 — Backcast Partners (“Backcast”), a leading provider of debt and equity capital for middle-market companies, is pleased to announce its most recent investment supporting the continued growth of Daniel Measurement and Control (“Daniel” or the “Company”), an existing Backcast portfolio company. Backcast’s investment was made alongside Daniel’s private equity sponsor, Turnspire Capital Partners (“Turnspire”), and provides Daniel with capital to support the ongoing growth in demand for its industry-leading metering products. Backcast’s partnership with Daniel began in 2021 when Backcast supported the acquisition of Daniel by Turnspire.

Headquartered in Houston with a state-of-the-art, strategically located manufacturing facility in Chihuahua, Mexico, Daniel is a global leader in providing flow and energy measurement technologies and services to the natural gas and refined hydrocarbon industries.

Backcast Managing Partner Mark Gudis said “We are excited to once again partner with Daniel and Turnspire in support of the growing demand for Daniel’s measurement solutions. Daniel is now well funded to capture and capitalize on this demand growth.”

CEO Tony Morris, said “Backcast has been a true partner to Daniel since their initial investment, and this transaction is yet another example of Backcast’s solutions-oriented and value-additive approach.”

Backcast was represented in the transaction by Greenberg Traurig.  

About Backcast Partners

Backcast Partners, formed in 2016, manages value-additive, credit-focused private investment funds providing capital to both private-equity backed and privately held management-owned companies. With approximately $1.4 billion in assets under management, the Backcast team has been supporting traditional middle-market companies ($7.5 million to $50 million of EBITDA) for decades. Backcast’s managed funds have a very flexible capital mandate and seek to invest from $20 million to up to $150 million per transaction. Backcast Partners operates out of offices in New York City and Millburn, NJ.

Information for companies seeking capital, please contact:

Mark Gudis, Managing Partner
[email protected]
(973) 512-7487
www.backcastpartners.com

Investor information, please contact:

David Petrucco, Managing Partner
[email protected]
(973) 512-7482
www.backcastpartners.com 

SOURCE Backcast Partners