Industry experts discuss supply chain shifts, working capital pressures, and the strategic role of non-recourse export factoring

SHANGHAI, Sept. 23, 2026 — Tradewind Finance, a global trade finance provider, brought together four regional leaders on September 9 for a webinar on how geopolitical shifts, changing sourcing patterns and tighter working capital are redrawing global trade. The session, “Beyond the Horizon: Rethinking Trade Routes from Far East to Americas,” was moderated by Cole Thompson, vice president of sales at Tradewind Finance.

He was joined by Chris Chang, regional commercial director for the Far East; Brian Dowd, senior vice president of sales for the Americas; and Christopher Algarin, international factoring consultant.

Cash is taking longer to come back, and Asia waits longest

Companies worldwide now take 67 days on average to turn a unit of cash spent on operations into cash collected from customers, according to Allianz Trade’s annual DSO and Cash Conversion Cycle report, published in July 2026. The cycle lengthened by half a day in 2025 and now sits three days above its ten-year average. Inventory is what holds the cash. Stock accounts for close to 80% of the cycle as companies move away from just-in-time buying toward keeping more in reserve. Payment terms are not the global pressure point: days sales outstanding stands at 56.5 days and has been broadly flat since 2022.

Asia is the outlier. Its cycle reached 70 days in 2025, the longest of any region and a record five days above the pre-2020 average, with Allianz forecasting 72 days in 2026. The reason is unusual. Asian companies are paying their own suppliers faster, cutting days payable outstanding by 1.4 days to 44, while collecting no sooner from their own customers. Days sales outstanding held at 59 days, the longest customer payment terms in the world. Cash leaves earlier and arrives no faster.

Atradius found the same pressure in receivables. Its 2026 Payment Practices Barometer for Asia, published in July, reports that more than 80% of suppliers are paid late and that overdue invoices tie up close to a third of B2B receivables. In Western Europe, nearly four in five companies say business customers pay late, and roughly a quarter of invoices are settled after the due date.

Atradius also points to a structural shift behind those numbers. As bank finance has tightened, more Western European sales have moved onto credit terms, now around 52% of B2B transactions, which leaves suppliers carrying more of the payment risk. That was the backdrop for the panel’s discussion of non-recourse factoring.

Sources: Allianz Trade, Days Sales Outstanding and Cash Conversion Cycle report, July 2026; Atradius Payment Practices Barometer, Asia (July 2026) and Western Europe (May 2026).

Supply chain diversification is now permanent

Chang said Chinese supply chains have been moving to new manufacturing hubs over the past two years, among them Morocco, Costa Rica and Vietnam. Dowd said the shift has outlasted the event that triggered it. “It seemed like a trend during COVID, but that was just a catalyst. A lot of companies, especially in the West, are rethinking their supply chains and how to diversify where they import from.”

Algarin pointed to Mexico as a clear beneficiary, citing the USMCA trade agreement, competitive labor costs and mature industrial clusters. “Chinese companies are establishing factories in Mexico and partnering with local manufacturers. We are convinced that this phenomenon of relocation to Mexico and Southeast Asia is here to stay.”

Credit risk now drives payment risk

The leading causes of payment disruption have changed, Dowd said. Large fraud cases and logistics delays now do more damage than traditional buyer insolvency. “There have been some large fraud cases that had ripple effects across the entire supply chain, including the financial services industry. Many suppliers lost the financial facilities they had in place.”

Chang described a furniture trade show in Shanghai where a major U.S. buyer’s bankruptcy hit the industry hard. “Credit insurance only protects against insolvency. The trade finance component, along with collections, is something very unique and highly sought after.” Big bankruptcies and fraud events, he added, typically push more SMEs toward non-recourse invoice finance.

Working capital: non-recourse factoring as a strategic tool

With payment terms running from 30 to 90 days and beyond, Algarin said the usual fixes do not hold up over time: larger bank facilities, shareholder contributions, supplier credit. “This is precisely when having a non-recourse factoring facility becomes so important. The more you sell, the greater your access to cash, and best of all, it is achieved without incurring additional debt.”

Dowd said the structure underwrites the buyer’s credit risk rather than the seller’s balance sheet. “You could be a one-year-old company with very low sales, but if you get a $1 million order from Amazon, we are happy to finance that business based on Amazon. It is not a loan, you do not have to pay it back.”

He drew a line between the two models. Recourse factoring works like a loan secured on the seller’s balance sheet. Non-recourse factoring is an outright purchase of the invoice, and once it is sold the credit and collection risk sits with the factor, not the exporter.

Compliance and verification: the value of local presence

Algarin pointed to a common mistake among exporters: extending terms on the strength of an unpolished website or a friend’s recommendation instead of proper diligence. “A third party fully committed to preserving its own capital will diligently verify the buyer’s reputation, payment history, size, and market potential.”

Chang said Tradewind’s 14 offices across 12 countries let the company verify buyers directly. “We have people in the most important markets to explain, work with, and verify buyers. This is a very important value adder that Tradewind offers.”

About Tradewind Finance

Founded in 2000, Tradewind Finance is a global trade finance provider helping importers and exporters improve cash flow, accelerate payments and manage risk. With over 25 years of experience and 14 offices across 12 countries, Tradewind delivers funding solutions to businesses worldwide. The company specializes in non-recourse export factoring, purchasing eligible invoices after goods have shipped and collecting payment directly from customers, thereby assuming the credit and collection risk on those receivables.

SOURCE Tradewind Finance

CHICAGO, Sept. 23, 2026 — May River Capital today announced that its portfolio company Dickson has been acquired by Copeland, a portfolio company of Blackstone. Copeland is a global leader in compression technologies and controls solutions, with over 100 years of expertise and approximately 18,000 colleagues across more than 40 countries.

May River acquired Dickson in April 2018. Since then, May River and Dickson’s management team have transformed the business from a family-owned, single-site operation into a global environmental monitoring platform serving customers in more than 50 countries from its operations in Addison, Illinois, Montpellier, France and Kuala Lumpur, Malaysia. The team strengthened Dickson’s commercial capabilities, invested in next-generation sensing and cloud-based monitoring solutions, and positioned the business to serve highly regulated life sciences and pharmaceutical applications. The successful take-private acquisition of Oceasoft, a publicly traded French environmental monitoring company, further expanded the Company’s technology portfolio and international presence.

Rick Weiler, President and CEO of Dickson, commented, “With May River’s support, we have invested in our people and expanded our product and technology capabilities, enhancing Dickson’s ability to support the critical environmental monitoring needs of life sciences customers around the world. Joining Copeland marks an exciting next chapter for Dickson, and we look forward to the opportunities ahead within its broader global platform.”

Steve Griesemer, Partner at May River Capital, commented, “Rick and the Dickson team have been outstanding partners, and the strength of the organization today is a testament to their leadership and dedication. Through our partnership with management, we have transformed Dickson into a global leader in its industry and positioned it for further growth. We believe Copeland is an ideal partner for Dickson’s next chapter and will help the Company extend its capabilities to an even broader customer base.”

Houlihan Lokey served as lead financial advisor with William Blair & Company L.L.C. as co-financial advisor to May River and Dickson. Paul Hastings LLP served as legal counsel.

About May River
May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market industrial growth companies. May River invests in high-quality industrial growth businesses, including advanced manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services. For more information, please visit www.mayrivercapital.com 

About Dickson
Founded in 1923 and based in Addison, Illinois, Dickson provides environmental monitoring solutions, including software, connected monitoring devices, sensors and services, for regulated applications. The Company serves customers in more than 50 countries, with a focus on life sciences, pharmaceutical, healthcare, medical device and other compliance-driven markets. For more information, please visit www.dicksondata.com 

CHICAGO, 23 septembre 2026 — May River Capital a annoncé aujourd’hui que l’une des sociétés de son portefeuille, Dickson, a été rachetée par Copeland, une société du portefeuille de Blackstone. Copeland est un leader mondial dans le domaine des technologies de compression et des solutions de contrôle, fort de plus de 100 ans d’expertise et comptant environ 18 000 collaborateurs répartis dans plus de 40 pays.

May River a racheté Dickson en avril 2018. Depuis lors, l’équipe de direction de May River et Dickson a transformé l’entreprise, qui était à l’origine une société familiale exploitant un seul site, en une plateforme mondiale de surveillance environnementale au service de clients dans plus de 50 pays, depuis ses sites d’Addison (Illinois), de Montpellier (France) et de Kuala Lumpur (Malaisie). L’équipe a renforcé les capacités commerciales de Dickson, a investi dans des solutions de détection de nouvelle génération et de surveillance dans le cloud, et a positionné l’entreprise pour répondre aux besoins des secteurs hautement réglementés des sciences de la vie et de l’industrie pharmaceutique. Le rachat réussi d’Oceasoft, une société française cotée en bourse spécialisée dans la surveillance environnementale, a permis d’élargir encore davantage le portefeuille technologique et la présence internationale de la Société.

Rick Weiler, président-directeur général de Dickson, a déclaré : « Grâce au soutien de May River, nous avons investi dans notre personnel et élargi nos capacités en matière de produits et de technologies, renforçant ainsi la capacité de Dickson à répondre aux besoins essentiels de ses clients du secteur des sciences de la vie en matière de surveillance environnementale à travers le monde. » « L’arrivée de Dickson chez Copeland marque le début d’un nouveau chapitre passionnant, et nous nous réjouissons à l’idée des opportunités qui s’offriront à nous au sein de cette plateforme mondiale plus vaste. »

Steve Griesemer, associé chez May River Capital, a déclaré : « Rick et l’équipe de Dickson ont été des partenaires exceptionnels, et la solidité actuelle de l’entreprise témoigne de leur leadership et de leur dévouement. Grâce à notre partenariat avec la direction, nous avons fait de Dickson un leader mondial dans son secteur et l’avons mis sur la voie d’une croissance durable. Nous sommes convaincus que Copeland est le partenaire idéal pour accompagner Dickson dans cette nouvelle étape et qu’il aidera l’entreprise à étendre ses capacités à une clientèle encore plus large. »

Houlihan Lokey a agi en tant que conseiller financier principal, tandis que William Blair & Company L.L.C. a joué le rôle de co-conseiller financier auprès de May River et Dickson. Le cabinet Paul Hastings LLP a assuré le conseil juridique.

À propos de May River
May River Capital est une société de capital-investissement basée à Chicago, spécialisée dans l’investissement dans des entreprises industrielles en croissance appartenant au segment inférieur du marché intermédiaire. May River investit dans des entreprises industrielles en pleine croissance et de grande qualité, notamment dans les secteurs de la fabrication de pointe, des produits techniques et de l’instrumentation, des services industriels spécialisés et des services de distribution industrielle à valeur ajoutée. Pour plus d’informations, rendez-vous sur www.mayrivercapital.com 

À propos de Dickson
Fondée en 1923 et basée à Addison, dans l’Illinois, la société Dickson propose des solutions de surveillance environnementale, notamment des logiciels, des appareils de surveillance connectés, des capteurs et des services, destinés à des applications soumises à une réglementation. La société accompagne des clients dans plus de 50 pays, en se concentrant notamment sur les secteurs des sciences de la vie, de l’industrie pharmaceutique, de la santé, des dispositifs médicaux et d’autres marchés soumis à des exigences réglementaires strictes. Pour plus d’informations, rendez-vous sur www.dicksondata.com 

CHICAGO, 23. September 2026 — May River Capital gab heute bekannt, dass sein Portfoliounternehmen Dickson von Copeland, einem Portfoliounternehmen von Blackstone, übernommen wurde. Copeland ist ein weltweit führender Anbieter von Kompressionstechnologien und Steuerungslösungen mit über 100 Jahren Erfahrung und rund 18.000 Mitarbeitern in mehr als 40 Ländern.

May River hat Dickson im April 2018 übernommen. Seitdem haben May River und das Managementteam von Dickson das Unternehmen von einem familiengeführten Betrieb mit einem einzigen Standort zu einer globalen Plattform für Umweltüberwachung umgestaltet, die von ihren Standorten in Addison (Illinois), Montpellier (Frankreich) und Kuala Lumpur (Malaysia) aus Kunden in mehr als 50 Ländern betreut. Das Team stärkte die kommerziellen Kompetenzen von Dickson, investierte in Sensortechnologie der nächsten Generation und cloudbasierte Überwachungslösungen und positionierte das Unternehmen so, dass es stark regulierte Anwendungen in den Bereichen Life Sciences und Pharmazie bedienen kann. Die erfolgreiche Übernahme von Oceasoft, einem börsennotierten französischen Unternehmen im Bereich Umweltüberwachung, im Rahmen einer Privatisierung hat das Technologieportfolio und die internationale Präsenz des Unternehmens weiter ausgebaut.

Rick Weiler, Präsident und CEO von Dickson, erklärte: „Mit der Unterstützung von May River haben wir in unsere Mitarbeiter investiert und unsere Produkt- und Technologiekompetenzen ausgebaut, wodurch Dickson nun noch besser in der Lage ist, die entscheidenden Anforderungen unserer Kunden aus dem Bereich der Biowissenschaften weltweit an die Umweltüberwachung zu erfüllen. Der Wechsel zu Copeland läutet für Dickson ein spannendes neues Kapitel ein, und wir freuen uns auf die Chancen, die sich ihm auf dieser breiter aufgestellten globalen Plattform bieten werden.”

Steve Griesemer, Partner bei May River Capital, erklärte: „Rick und das Dickson-Team waren hervorragende Partner, und die heutige Stärke des Unternehmens ist ein Beweis für ihre Führungsqualitäten und ihr Engagement. Durch unsere Zusammenarbeit mit der Unternehmensleitung haben wir Dickson zu einem weltweit führenden Unternehmen seiner Branche gemacht und es für weiteres Wachstum aufgestellt. Wir sind davon überzeugt, dass Copeland der ideale Partner für das nächste Kapitel von Dickson ist und dem Unternehmen dabei helfen wird, seine Kompetenzen auf einen noch breiteren Kundenstamm auszuweiten.”

Houlihan Lokey fungierte als leitender Finanzberater, während William Blair & Company L.L.C. als Mitfinanzberater für May River und Dickson tätig war. Paul Hastings LLP fungierte als Rechtsberater.

Über May River
May River Capital ist eine in Chicago ansässige Private-Equity-Gesellschaft, die sich auf Investitionen in wachsende Industrieunternehmen im unteren Mittelstand konzentriert. May River investiert in hochwertige, wachstumsstarke Industrieunternehmen, darunter in den Bereichen fortschrittliche Fertigung, technische Produkte und Messtechnik, spezialisierte Industriedienstleistungen sowie wertschöpfende industrielle Vertriebsdienstleistungen. Weitere Informationen finden Sie unter www.mayrivercapital.com 

Über Dickson
Das 1923 gegründete Unternehmen Dickson mit Sitz in Addison, Illinois, bietet Lösungen zur Umweltüberwachung für regulierte Anwendungen an, darunter Software, vernetzte Überwachungsgeräte, Sensoren und Dienstleistungen. Das Unternehmen bedient Kunden in mehr als 50 Ländern, wobei der Schwerpunkt auf den Bereichen Life Sciences, Pharmazie, Gesundheitswesen, Medizinprodukte und anderen regulierungsintensiven Märkten liegt. Weitere Informationen finden Sie unter www.dicksondata.com 

CHICAGO, 23 de septiembre de 2026 — May River Capital anunció hoy que Dickson, una empresa de su cartera, ha sido adquirida por Copeland, una compañía de la cartera de Blackstone. Copeland es un líder mundial en tecnologías de compresión y soluciones de control, y cuenta con más de 100 años de experiencia y aproximadamente 18.000 empleados en más de 40 países.

May River adquirió Dickson en abril de 2018. Desde entonces, May River y el equipo directivo de Dickson han transformado la empresa —que originalmente era un negocio familiar con una única sede— en una plataforma global de monitoreo ambiental que atiende a clientes en más de 50 países desde sus centros de operaciones en Addison (Illinois), Montpellier (Francia) y Kuala Lumpur (Malasia). El equipo fortaleció las capacidades comerciales de Dickson, invirtió en soluciones de monitoreo basadas en la nube y tecnología de sensores de última generación, y posicionó a la empresa para atender aplicaciones altamente reguladas en los sectores farmacéutico y de ciencias de la vida. La exitosa adquisición y exclusión de bolsa de Oceasoft —una empresa francesa de monitoreo ambiental que cotizaba en el mercado público— amplió aún más la cartera tecnológica y la presencia internacional de la compañía.

Rick Weiler, presidente y consejero delegado de Dickson, indicó: “Con el apoyo de May River, hemos invertido en nuestro equipo y ampliado nuestras capacidades tecnológicas y de producto, reforzando así la capacidad de Dickson para atender las necesidades críticas de monitorización ambiental de los clientes del sector de ciencias de la vida en todo el mundo. La incorporación a Copeland marca el inicio de una nueva y apasionante etapa para Dickson, y esperamos con interés las oportunidades que se presentan dentro de su plataforma global de mayor alcance”.

Steve Griesemer, socio de May River Capital, comentó: “Rick y el equipo de Dickson han sido unos socios excepcionales, y la fortaleza actual de la organización es testimonio de su liderazgo y dedicación. Gracias a nuestra colaboración con el equipo directivo, hemos transformado a Dickson en un líder mundial de su sector y la hemos posicionado para seguir creciendo. Creemos que Copeland es el socio ideal para la próxima etapa de Dickson y que ayudará a la empresa a ampliar sus capacidades para llegar a una base de clientes aún más extensa”.

Houlihan Lokey actuó como asesor financiero principal, y William Blair & Company L.L.C. como asesor financiero conjunto de May River y Dickson. Paul Hastings LLP actuó como asesor jurídico.

Acerca de May River

May River Capital es una firma de capital privado con sede en Chicago, centrada en invertir en empresas industriales en crecimiento pertenecientes al segmento inferior del mercado medio. May River invierte en empresas industriales de alta calidad y en crecimiento, incluyendo sectores como la fabricación avanzada, productos de ingeniería e instrumentación, servicios industriales especializados y servicios de distribución industrial de valor añadido. Para más información, visite www.mayrivercapital.com. 

Acerca de Dickson

Fundada en el año 1923 y con sede en Addison, Illinois, Dickson ofrece soluciones de monitoreo ambiental, incluido software, dispositivos de monitoreo conectados, sensores y servicios, para aplicaciones reguladas. La empresa presta servicios a clientes en más de 50 países, centrándose en los mercados de ciencias biológicas, productos farmacéuticos, atención sanitaria, dispositivos médicos y otros mercados impulsados por el cumplimiento. Para obtener más información, visite www.dicksondata.com

Built on the Nasdaq eVestment™ Market Lens, Capital Intelligence enriches the relationships IR teams have and surfaces the ones they don’t, without leaving Juniper Square’s CRM.

SAN FRANCISCO, Sept. 23, 2026 — Juniper Square, the operations partner to more than 2,300 private markets GPs, today launched Capital Intelligence, a new product within its Investor CRM that embeds Nasdaq eVestment Market Lens institutional intelligence directly into the CRM General Partners (GPs) already use.

Fundraising has never been more competitive. As Limited Partners (LPs) concentrate capital with fewer managers, the gap between firms with institutional-grade market intelligence and those without it keeps widening. Maintaining a current, detailed view of investors and their consultants is a challenge for every IR team — the largest GPs solve it with costly integration projects, while the rest are left with stale, incomplete data.

Capital Intelligence is designed to help address that information gap. Built on Nasdaq eVestment Market Lens, a source of institutional investment intelligence spanning 30,000+ institutional firms, 70,000+ mandates, and 100,000+ key professionals, it automatically refreshes investor and consultant records as the market moves, pairing structured relationship data with qualitative context like pacing plans, consultant sentiment, and allocation trends.

“Fundraising is won by the firms that understand their investors best and move first,” said Jay Farber, General Manager of GPX at Juniper Square. “Capital Intelligence puts that advantage in every GP’s hands by turning the CRM into an always-current view of the institutional market, so teams can target the right LPs, act the moment something changes, and compete for capital that used to be out of reach.”

Capital Intelligence delivers three new capabilities:

• Enrich: Starting with the contacts a firm already has, an AI matching engine proposes links to the Nasdaq dataset, allowing teams to confirm thousands of matches in a single session instead of tracking each one by hand. Every match is a suggestion until someone accepts it, so the system speeds up the work without taking the judgment call away from the team.
• Discover: Pipeline Builder, a new feature within the CRM, lets teams search more than 100,000 investor and consultant professionals across 30,000+ institutional firm profiles and 70,000+ mandate opportunities. Firm type, AUM, and geography filters allow teams to import the right ones in one click.
• Act: Capital Intelligence tracks contact changes across investor and consultant organizations and presents relevant updates for user review and acceptance. Teams can review relationship developments, validate them, and take action where appropriate.

“Capital Intelligence keeps our contacts updated automatically and shows us the investors beyond our network, all inside the CRM we already use every day,” said Jedd Horn, Director of Capital Markets at ABR Investment Partners.

“Capital formation works best when investors looking to place capital can find the managers whose strategies fit their needs. That comes down to the quality and timeliness of the intelligence behind the match. By bringing Nasdaq eVestment into Juniper Square’s CRM, we put that intelligence where fundraising actually happens — helping capital formation teams work more efficiently and connect the right capital with the right managers,” said Daniel Brickhouse, VP, Head of Nasdaq eVestment.

Capital Intelligence is available now for GPs raising institutional capital. Following the launch of Headless GPX in June and the general availability of Fay, Juniper Square’s first GPX Agent, in July, this latest release continues Juniper Square’s strategy of embedding AI natively into the platform rather than bolting it on from the outside. Firms that already license Nasdaq eVestment Market Lens can connect their existing subscription. To learn more or schedule a demo, visit junipersquare.com/capital-intelligence.

About Juniper Square
Juniper Square is trusted as the operations partner by more than 2,300 private markets GPs worldwide, connecting technology, data, and fund administration services to help GPs fundraise efficiently, streamline operations, and improve the investor experience. Our unified platform centralizes data and connects LPs and GPs across every workflow—including fundraising, investor onboarding, compliance, treasury, and reporting. Today, more than $1 trillion in LP capital is managed through Juniper Square. For more information, please visit junipersquare.com.

About Nasdaq eVestment™
Nasdaq eVestment™ is a leading institutional intelligence and analytics platform that connects asset managers, asset owners, and investment consultants across public and private markets. As part of Nasdaq (Nasdaq: NDAQ), Nasdaq eVestment empowers institutional investment teams to make smarter, faster, and more confident decisions by delivering trusted data, market insights, and purpose-built workflows across the investment lifecycle. With one of the industry’s most comprehensive database of institutional strategies, investors, and professionals, Nasdaq eVestment™ brings transparency and efficiency to manager research, due diligence, fundraising, and distribution. Our data, analytics, benchmarks, and engagement tools help clients uncover opportunities, evaluate performance, and strengthen relationships across the institutional investment community. To learn more about Nasdaq eVestment™, visit www.nasdaq.com/solutions/evestment.

The Nasdaq eVestment™ is a trademark of Nasdaq, Inc. in the U.S. and other countries. All rights reserved. This communication and the content found by following any link herein are being provided to you by Nasdaq eVestment, a business of Nasdaq, Inc. and certain of its subsidiaries (collectively, “Nasdaq”), for informational purposes only. Nothing herein shall constitute a recommendation, solicitation, invitation, inducement, promotion, or offer for the purchase or sale of any investment product, nor shall this material be construed in any way as investment, legal, or tax advice, or as a recommendation, reference, or endorsement by Nasdaq. Nasdaq makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. At the time of publication, the information herein was believed to be accurate; however, such information is subject to change without notice. This information is not directed or intended for distribution to, or use by, any citizen or resident of, or otherwise located in, any jurisdiction where such distribution or use would be contrary to any law or regulation or which would subject Nasdaq to any registration or licensing requirements or any other liability within such jurisdiction. By reviewing this material, you acknowledge that neither Nasdaq nor any of its third-party providers shall under any circumstance be liable for any lost profits or lost opportunity, direct, indirect, special, consequential, incidental, or punitive damages whatsoever, even if Nasdaq or its third-party providers have been advised of the possibility of such damages.

Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “can,” “may,” “will,” “help,” “expect,” “strategy,” “opportunity,” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the expected functionality, capabilities, and benefits of Capital Intelligence; anticipated operational efficiencies and workflow enhancements for investor relations teams; and the ability to identify and respond to fundraising opportunities. Forward-looking statements involve a number of risks, uncertainties, and other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with tSEC. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE Juniper Square

Novel synthetic biomaterial is designed to support volumetric tissue regeneration
while minimizing inflammatory foreign-body response

SAN DIEGO, Sept. 23, 2026 — Tempo Therapeutics, Inc. (“Tempo”), a clinical-stage regenerative medicine company pioneering synthetic biomaterials designed to promote the formation of healthy, functional tissue, today announced that it has received a Small Business Innovation Research (SBIR) award from the National Cancer Institute (NCI), part of the National Institutes of Health (NIH), to support a randomized clinical study of its proprietary Microporous Annealed Particle (MAP™) Wound Matrix.

“This award brings Tempo closer to an important value-enhancing milestone: demonstrating that MAP can provide a fundamentally different approach to wound management by accelerating the formation of healthy tissue while minimizing the inflammatory foreign-body response,” said Steven Sands, Chairman of Tempo Therapeutics. “If successful, we believe this platform could address multiple wound indications where current treatment options remain inadequate, potentially improving outcomes for patients while reducing the clinical burden and cost of managing complex wounds.”

The award provides potential total funding of approximately $2.25 million over two years, subject to continued satisfactory progress and availability of funds. The project, MOSAIC II: A Randomized Clinical Study of the MAP Wound Matrix to Reduce Time to Graft-Readiness after Non-Melanoma Skin Cancer Resection, will be led by Stephanie Deshayes, Ph.D., Vice President of Research & Development at Tempo and Principal Investigator of the grant.

“MAP is designed to accelerate the formation of healthy, vascularized tissue within complex wounds,” said Stephanie Deshayes, Ph.D., Vice President of Research & Development at Tempo Therapeutics and Principal Investigator of MOSAIC II. “This award allows us to evaluate that approach in more challenging wounds where the unmet clinical need remains significant.”

Unlike traditional approaches that can trigger a persistent foreign-body response, MAP was engineered to support the body’s regenerative processes while minimizing inflammatory signaling associated with implanted materials. The goal is to enable rapid, volumetric growth of healthy tissue within complex wounds and create a vascularized wound bed suitable for subsequent reconstruction or grafting.

“The ability to regenerate tissue throughout the volume of a complex wound—rather than simply promoting healing from the margins—could fundamentally change the way difficult wounds are treated,” said Westbrook Weaver, Ph.D., Co-Founder and Chief Technology Officer of Tempo Therapeutics. “MAP was designed as a flowable, volumetric scaffold to support the rapid ingrowth of cells and tissue formation in a wound without provoking the persistent foreign-body response commonly associated with implanted materials. MOSAIC II gives us the opportunity to rigorously evaluate whether that biology can translate to improved tissue formation over bone in the definitive reconstruction of complex wounds.”

The newly funded study builds upon Tempo’s recently published first-in-human randomized, controlled, multicenter study in patients with full-thickness wounds following Mohs surgery for non-melanoma skin cancer. In that study, MAP-treated wounds achieved a favorable Wound Bed Score approximately 14 days earlier than controls, without delaying overall wound closure. At approximately six months, MAP-treated wounds also demonstrated significantly improved physician-assessed scar quality and reduced soft tissue volume loss compared with standard-of-care hydrocolloid treatment.

MOSAIC II is designed to extend these findings into a clinically important reconstructive setting by evaluating whether MAP can reduce the time required to develop a wound bed suitable for grafting following complex non-melanoma skin cancer resections with exposed bone. The NIH award specifically supports one or more clinical trials and identifies the MOSAIC II randomized clinical study as the funded project.

About Tempo Therapeutics

Tempo Therapeutics is a privately held, clinical-stage regenerative medicine company developing synthetic biomaterials designed to enable the body to regenerate healthy tissue. The Company is leveraging its patented MAP™ technology platform to develop products for surgical reconstruction and wound healing, with additional opportunities in aesthetic dermatology and other regenerative medicine applications.

Tempo’s lead product has completed first-in-human clinical evaluation and has been submitted to the FDA through the De Novo pathway.

NIH Funding Acknowledgment

Research reported in this announcement is supported by the National Cancer Institute of the National Institutes of Health under Award Number R44CA314892. The content is solely the responsibility of Tempo Therapeutics and does not necessarily represent the official views of the National Institutes of Health. The Notice of Award requires this acknowledgment and advance notification to NCI before issuing a press release concerning the research.

Media Contact:
Kevin Hannahoe
Corporate Operations
[email protected]

SOURCE Tempo Therapeutics, Inc

 LA PLATEFORME EUROPÉENNE D’ASSISTANCE AUTOMOBILE ENTIÈREMENT NUMÉRIQUE CLÔTURE UN NOUVEAU TOUR DE FINANCEMENT DE 20 MILLIONS D’EUROS ET ANNONCE L’ACQUISITION DE CARVOILÀ.

MILAN, 23 septembre 2026 — hlpy, la jeune entreprise italienne en croissance qui réinvente l’assistance automobile et la mobilité à travers l’Europe grâce à une plateforme entièrement numérique et basée sur l’IA, annonce une nouvelle levée de fonds de 20 millions d’euros et l’acquisition de 100 % du capital social de Carvoilà, une société de services de transport et de logistique de véhicules. Dans le cadre de cette opération, BNP Paribas BNL Equity Investments (BBEI), la société du groupe BNP Paribas spécialisée dans les prises de participation minoritaires dans les petites et moyennes entreprises italiennes, rejoint l’actionnariat de hlpy. L’opération marque une nouvelle étape dans la stratégie de croissance externe de hlpy, qui vise à élargir progressivement son offre de services sur l’ensemble de la chaîne de valeur de l’automobile et à renforcer son rôle d’organisateur paneuropéen des services liés aux véhicules.

Ces nouvelles ressources financières et l’acquisition de Carvoilà permettent à hlpy de franchir une nouvelle étape majeure dans son parcours de croissance, en passant d’une plateforme numérique d’assistance à la mobilité à un écosystème intégré de services liés aux véhicules capable de relier technologie, données, réseaux opérationnels et compétences spécialisées tout au long de la chaîne de valeur des services automobiles.

À la suite de cette acquisition, les fondatrices de Carvoilà, Francesca Vidali et Michela Conti, rejoindront le groupe hlpy en vue de développer davantage le modèle économique et de tirer parti des synergies opérationnelles.

Valerio Chiaronzi, directeur général de hlpy, commente : « Nous faisons évoluer notre plateforme, qui est désormais en mesure d’accompagner les véhicules tout au long de la chaîne de valeur des services avant-vente et après-vente, de l’assistance à la réparation, en passant par l’entretien et la logistique, grâce à la combinaison de la technologie, des données et des réseaux opérationnels. Ce nouveau tour de table et l’entrée de BBEI dans notre actionnariat témoignent de la confiance accordée à notre modèle industriel et favoriseront encore davantage notre croissance, tant organique qu’externe. »

Lorenzo Langella, directeur général de BBEI, ajoute : « L’investissement dans hlpy s’inscrit parfaitement dans la mission de BBEI : nouer des partenariats stratégiques avec des sociétés actives dans des secteurs dynamiques et dirigées par des entrepreneurs visionnaires. »

Francesca Vidali, fondatrice de Carvoilà, déclare : « Nous sommes ravis de rejoindre le groupe hlpy. L’entreprise Carvoilà a été fondée avec une vision claire : apporter innovation et efficacité à la logistique des véhicules, en repensant la manière dont le transport routier peut être organisé et mis en œuvre. »

Grâce à l’intégration de Carvoilà, hlpy se rapproche de son objectif : dépasser les 100 millions d’euros de chiffre d’affaires récurrent d’ici à 2027. Cette opération porte à 45 millions d’euros le montant total des fonds levés depuis sa création en 2020 par la jeune entreprise en croissance, qui a déjà réalisé deux acquisitions en six ans d’activité.

DIE EUROPÄISCHE PLATTFORM FÜR VOLLSTÄNDIG DIGITALE FAHRZEUGASSISTENZ SCHLIESST EINE NEUE FINANZIERUNGSRUNDE IN HÖHE VON 20 MILLIONEN EURO AB UND GIBT DIE ÜBERNAHME VON CARVOILÀ BEKANNT.

MAILAND, 23. September 2026 — hlpy, das italienische Scale-up , das die Fahrzeug- und Mobilitätsunterstützung in ganz Europa mithilfe einer vollständig digitalen und KI-gestützten Plattform neu gestaltet, gibt eine neue Finanzierungsrunde in Höhe von 20 Millionen Euro sowie den Erwerb von 100 % des Aktienkapitals von Carvoilà bekannt, einem auf Fahrzeugtransport und Logistikdienstleistungen spezialisierten Unternehmen. Im Rahmen der Transaktion wird BNP Paribas BNL Equity Investments (BBEI), das auf Minderheitsbeteiligungen an italienischen kleinen und mittleren Unternehmen spezialisierte Unternehmen der BNP Paribas Group, Teil der Gesellschafterstruktur von hlpy. Die Transaktion stellt einen weiteren Schritt in der Strategie des externen Wachstums von hlpy dar, die darauf abzielt, das Dienstleistungsangebot schrittweise über die gesamte Wertschöpfungskette der Automobilbranche hinweg auszubauen und die Rolle des Unternehmens als paneuropäischer Koordinator von Fahrzeugdienstleistungen zu stärken.

Durch die neuen finanziellen Mittel und die Übernahme von Carvoilà setzt hlpy einen weiteren Meilenstein auf seinem Wachstumskurs und entwickelt sich von einer digitalen Plattform für Mobilitätshilfe zu einem integrierten Ökosystem für Fahrzeugdienstleistungen, das in der Lage ist, Technologie, Daten, operative Netzwerke und Fachwissen entlang der gesamten Wertschöpfungskette der Kfz-Dienstleistungen miteinander zu verknüpfen.

Im Zuge der Übernahme werden die Gründerinnen von Carvoilà, Francesca Vidali und Michela Conti , in die hlpy Group eintreten, um das Geschäftsmodell weiter auszubauen und operative Synergien zu nutzen.

Valerio Chiaronzi, CEO von hlpy, erklärte: „Wir entwickeln unsere Plattform weiter, die nun dank der Kombination aus Technologie, Daten und operativen Netzwerken in der Lage ist, Fahrzeuge über die gesamte Wertschöpfungskette der Vor- und Nachverkaufsdienstleistungen hinweg zu unterstützen – von der Pannenhilfe über Reparatur und Wartung bis hin zur Logistik. Die neue Finanzierungsrunde und der Einstieg von BBEI in unsere Aktionärsstruktur bestätigen das Vertrauen in unser Geschäftsmodell und werden es uns ermöglichen, sowohl das organische Wachstum als auch das Wachstum durch Akquisitionen weiter zu beschleunigen.”

Lorenzo Langella, CEO von BBEI, fügte hinzu: „Die Investition in hlpy steht voll und ganz im Einklang mit der Mission von BBEI: strategische Partnerschaften mit Unternehmen aufzubauen, die in dynamischen Branchen tätig sind und von visionären Unternehmern geführt werden.”

Francesca Vidali, Gründerin von Carvoilà, erklärte: „Wir freuen uns sehr, Teil der hlpy Group zu werden.” Carvoilà wurde mit einer klaren Vision gegründet: Innovation und Effizienz in die Fahrzeuglogistik zu bringen und die Art und Weise neu zu gestalten, wie der Straßentransport organisiert und erlebt werden kann.”

Mit der Integration von Carvoilà rückt hlpy seinem Ziel näher, bis 2027 wiederkehrende Umsätze von über 100 Millionen Euro zu erzielen. Durch diese Transaktion erreicht das Scale-up seit seiner Gründung 2020 ein Gesamtfinanzierungsvolumen von 45 Millionen Euro und hat innerhalb von sechs Geschäftsjahren zwei Akquisitionen abgeschlossen.