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Starpax’s Cancer Technology Looks To Address A Major Problem That Chemotherapy And Immunotherapy Haven’t Solved For A Century

Benzinga

By Kimberly Adams, Benzinga The human body has healthy cells that reproduce to replace damaged or missing cells in the tissues. Cancer starts when one of those cells begins to have an abnormal reaction that causes it to reproduce perpetually. It takes approximately one billion of these cancer cells to end up with a ¾-inch tumor. So, imagine how many cancer cells a 2-inch tumor gets. If you don’t kill all these cancer cells, a single cancer cell left could cause the cancer to come back. When tumors grow, blood vessels in the tumor begin to malfunction, becoming chaotic and often collapsing. Drugs and immune cells need blood vessels to reach all cancer cells in a tumor, however, unfortunately, there are regions of the tumor where cancer cells are totally inaccessible. These regions are called hypoxic zones – where the level of oxygen is extremely low – and this is where the cancer stem cells are located. It is very important for a cancer treatment to eliminate cancer stem cells because they are the major driver of metastasis in the patient’s body and resistance to treatment. It is well documented that systemic chemotherapy or immunotherapy fails to reach hypoxia zones to kill cancer stem cells. The reason is simple – if there are no blood vessels to bring drugs or immune cells next to a cancer cell, the counter-tumor action cannot work because drugs or immune cells are not self-propelled to travel by themselves in the interstitial spaces of the tumor tissues. Of course, when the blood vessels in a tumor are not too damaged and hypoxic zones are still absent, patients see treatments showing some efficacy. But the problem is that cancer diagnostics often come too late and hypoxic zones are too often already present in the tumor at the patient’s first exam. This is where Starpax’s never-before-seen extraordinary technology comes in – to address specifically this problem of reaching cancer cells in hypoxic zones. Starpax Magnetodrones™ are self-propelled, meaning they can swim in the interstitial space of tumor tissues without the need for blood vessels. The Magnetodrones are proprietary nonpathogenic Starpax living bacteria (Bn1-S™) developed in-laboratory, conceived to transport FDA-approved anticancer molecules attached to their surface. They are injected directly into the tumor, not in the blood vessels. They are sensitive to very special magnetic fields generated by the Starpax Polartrak™, a medical device invented by Starpax in which the patient is installed. The Polartrak creates unique patented virtual monopole magnetic fields vectors that control the trajectory of the Magnetodrones in 3D with millimetric precision inside the tumor in order to force them to spread throughout the whole volume of the tumor while they release drugs to the cancer cells on their path. Also, the PolarTrak is conceived to create a magnetic sphere around the tumor that keeps the Magnetodrones captive inside the tumor, thus aiming to avoid toxicity to the rest of the patient’s body and typical side effects of systemic treatments that could damage healthy tissues and organs. Another specific characteristic of the Magnetodrones is they are aerotactic – that means they search for a low level of oxygen to be comfortable. The Magnetodrones have been developed to live in a culture media with an excessively low oxygen level which is the same as the oxygen level in a hypoxic zone. So, when they pass by a hypoxic zone, they stop swimming, penetrate and accumulate into it to deliver anticancer drug to stem cells inaccessible by current systemic treatments or even immune cells. Since stem cells do not divide in hypoxia zones – The Magnetodrones bring a specific drug molecule into this area that reverses chemoresistance of the hypoxic zones in order to destroy stem cells. Magnetodrones cannot proliferate in the human body as they die within 60 minutes after the injection because the temperature of the human body is too high for them to survive. Having reached 100% remission rate and no side effects observed in their preclinical studies, Starpax is confident of achieving similar results in its human clinical studies scheduled for the end of the first quarter of 2024. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

October 10, 2023 09:00 AM Eastern Daylight Time

Sharps Technology (STSS) To Enter The Copolymer Prefillable Syringe Market With Strength And Ahead of Plan Through Pending Manufacturing Facility Acquisition and $400M Nephron Deal

Benzinga

By Meg Flippin, Benzinga Sharps Technology Inc. (NASDAQ: STSS) is pushing into the copolymer prefillable syringe market thanks to a deal with Nephron Pharmaceuticals Corp., a leader in contract manufacturing of generic medications and 503B outsourcing that includes prefillable sterile syringes. Sharps announced the signing of an Asset Purchase Agreement (APA) to acquire Nephron’s InjectEZ specialty syringe manufacturing facility for $50 Million. This includes a 10-Year purchase agreement for over $400 Million from Nephron Pharmaceuticals for Sharps’ next-generation copolymer prefillable syringe systems. Product delivery is scheduled for the first quarter of 2024 with revenue totaling approximately $30 Million for the first twelve months of production and subsequent revenue of over $45 Million per year beginning in 2025, and continuing through 2033. “With this landmark purchase agreement in place for our copolymer prefillable syringes, we will accelerate the realization of our shared goals, transition the company to revenue, and propel Sharps into a new phase of growth and sustainability,” commented Robert Hayes, CEO of the medical device and pharmaceutical packaging company specializing in developing and manufacturing copolymer drug delivery systems. “At the forefront of our growth trajectory are our copolymer-based prefillable syringe systems, a sector that is experiencing escalating market demand and is poised to shape the future of Sharps.” Owning Manufacturing For A Market Poised For Growth Market research is forecasting significant growth within the prefillable syringe segment, with product demand outstripping supply for the foreseeable future. The market for prefilled syringes is projected to grow at a compound annual growth rate of ~12% from 2022 to 2030, according to Grand View Research. The prefilled syringe market is a niche sub-industry within the healthcare sector and Sharps will serve both Nephron and other customers within the copolymer segment of the market. Contributing to the demand for copolymer-based syringes are the glass-like features without breakage, and the market could be ripe for growth due to the global lack of capacity for these products and technical challenges in production that Sharps’ team reports a wealth of experience in. Under the terms of the deal, Sharps is paying $50 million for the InjectEZ specialty copolymer syringe manufacturing facility, which is one of the only fully dedicated facilities to manufacture these types of syringes in North America. Located on Nephron’s campus in West Columbia, South Carolina, InjectEZ has fully automated prefillable syringe system manufacturing capabilities that utilize ISO cleanrooms for all key areas including injection molding, high-speed automated assembly, and specialty packaging lines that are equipped with Husky molding machines and Hahn automation. With full control of the InjectEZ facility through this transaction and the capacity from the Company’s wholly-owned manufacturing facility in Hungary, Sharps will have the ability to supply Nephron with their prefilled syringe needs and also commercialize products to the broader healthcare syringe market. The company expects the deal to generate “significant” short and long-term revenue. Nephron Inks 10-Year Purchase Agreement As a result of this deal the Company’s first customer will be Nephron, which inked a 10-year purchase agreement for Sharps’ next-generation copolymer prefillable 10 mL and 50 mL syringes. Minimum orders will be over $400 Million during that period. Sharps expects to begin delivering products to Nephron in the first quarter of 2024, representing about $30 million in revenue for the first 12 months of production. Starting in 2025, Sharps expects revenue of at least $45 million per year through 2033 from Nephron, with additional revenue from its capacity to serve the broader market for its products. “As a company that is transitioning from research and development to commercialization, this is a significant development that will have a meaningful impact on Sharps’ revenue and profitability,'' states Mr. Hayes. We anticipate Nephron's start-up volume to be approximately 60% of our initial planned manufacturing capacity, which will provide Sharps with the ability to fully service Nephron’s needs and to also sign purchase orders for our products from other companies in the healthcare market.” To finance the acquisition of InjectEZ, Sharps retained Lampert Capital Advisors, a provider of financing solutions to public and private companies. Lampert is engaged in a financing process that has resulted in a signed term sheet with a leading middle-market lender for up to $75 Million in debt financing to be used for the acquisition of InjectEZ, production line enhancements, working capital, transaction fees and expenses, and general corporate purposes. Continuing Relationships and Growth Sharps announced a manufacturing and research partnership with Nephron Pharmaceuticals in November 2022 to support the manufacturing of its innovative prefillable syringe systems. Through the successful completion of the new Asset Purchase Agreement and the 10-year purchase agreement, Sharps is poised to have a full partnership and a U.S. footprint that will provide a strong baseline of revenue for Sharps for many years. The new agreement will leverage synergies from both companies and enable Sharps to commercially enter the prefilled syringe landscape with manufacturing strength and ahead of plan. These developments are the culmination of a strong partnership developed in 2022, and may be just the beginning: “We are excited about the opportunities that lie ahead as we strengthen our relationship with Nephron and will update our shareholders as the transaction advances,” said Mr. Hayes. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

October 06, 2023 08:50 AM Eastern Daylight Time

Sharma: India prepared for Cricket World Cup

Acroud Media

With India hosting the 2023 ICC World Cup, the Expectation is very much on the home nation to put on a good showing on home soil. India will be starting their ICC World Cup on Sunday, October 8th, against fierce opposition in five-time champions Australia. This is set to be a huge game for both sides who will be looking to start their campaign in a positive manner. Some might suggest that the host nation, India, will struggle under the weight of the pressure of being hosts, but team captain Rohit Sharma says they are ready for the tournament. Sharma says he and the team have ”prepared really well” and is used to the pressures that come with the job. "I know what is at stake,” he said. “The guys who are a part of the team know what is at stake. For us, it is about taking everything out and focussing on what we want to do as a team.” The host nation has won the Cricket World Cup in each of the last three editions and India are the betting favourites coming into the season. However, Sharma is keen for them to take it a game at a time. "It (hosts winning the WC) has happened in the last three editions of the World Cup. It is a long tournament and you cannot get too far ahead of yourself. It is important for us to try and focus on one job at a time and move on.” He added: “It is very easy to say that (forget pressure) and it is going to be tough. But we have prepared really well. As long as you have prepared really well, it gives you a lot of confidence going into the main games.” To learn more about the Cricket World Cup and the best betting apps in India, head over to Yahoo. Contact Details Acroud Media info-media@acroudmedia.com

October 06, 2023 03:00 AM Eastern Daylight Time

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Sonus faber choisit la technologie sans fil UWB de SPARK Microsystems pour des enceintes audio domestiques à faible latence

SPARK Microsystems

SPARK Microsystems, une entreprise canadienne de semi-conducteurs spécialisée dans les communications sans fil à courte portée de nouvelle génération, a annoncé aujourd'hui que le fabricant italien de haut-parleurs Sonus faber a choisi la technologie UWB de SPARK pour son système de haut-parleurs sans fil Duetto. La technologie UWB de SPARK permet une transmission de données à faible latence entre les enceintes filaires et les enceintes sans fil, ce qui permet à Sonus faber d'offrir une performance audio non compressée de haute qualité qui ne peut être obtenue avec Bluetooth ou Wi-Fi. Le nouveau système de haut-parleurs Duetto de Sonus faber permet aux clients de profiter de leur système audio domestique Duetto en streaming, le haut-parleur satellite de la paire stéréo étant connecté à l'unité principale à l'aide de la solution SPARK UWB. Le système prend en charge une portée allant jusqu'à 8 mètres pour une flexibilité de placement/positionnement sans compromis en termes de performance audio. Le système, certifié par l'ETSI et la Commission fédérale des communications, permet aux clients de bénéficier d'une connectivité sans fil de haute précision entre les haut-parleurs, maximisant ainsi les options de placement tout en profitant des fonctionnalités et de l'intégration des services musicaux et de la connectivité les plus performants du marché. « Le système de haut-parleurs Duetto de Sonus faber témoigne de l'évolution du marché vers un véritable système audio sans fil qui offre un son de qualité supérieure sans les fils », a déclaré Julie Delamarre, vice-présidente des ventes EMEA de SPARK Microsystems. « Le système de haut-parleurs Duetto est basé sur la technologie UWB de SPARK qui permet un transport de données à faible latence, déterministe, à faible consommation et à haut débit de données, permettant à Sonus faber de fournir un son non compressé à travers des haut-parleurs reliés sans fil - une première dans l'industrie ». L'émetteur-récepteur sans fil SPARK UWB à très faible consommation, faible latence et haut débit offre une nouvelle classe de connectivité sans fil à courte portée pour les applications audio haut de gamme. Offrant des débits de données plus élevés et une meilleure robustesse que les autres solutions sans fil à courte portée - avec une latence extrêmement faible qui ne peut être égalée par Bluetooth ou WiFi - SPARK UWB permet un son non compressé de haute-fidélité pour une expérience audio plus riche et plus immersive. « La technologie UWB de SPARK a été choisie pour le système de haut-parleurs Duetto en raison de ses capacités à délivrer un son non compressé sans fil, sans problème de latence, de variabilité ou de bande passante », déclare Livio Cucuzza, Directeur de la conception, Sonus faber. « Ces capacités offriront à nos clients une expérience supérieure, car ils pourront profiter du son tel qu'il a été conçu à l'origine par les artistes eux-mêmes, avec la flexibilité d'un couplage sans fil entre les haut-parleurs ». À propos de Sonus faber Sonus faber est un concepteur et fabricant de technologies audio haut de gamme, fondé en 1983 dans la région italienne de la Vénétie, mondialement connue pour la fabrication de produits de luxe. En latin, Sonus faber signifie "Artisan du son". L'ingénierie audio de pointe de Sonus faber s'appuie sur les traditions du design italien, en produisant à la main des enceintes dont le design s'inspire d'instruments de musique des derniers siècles, fabriqués à partir de matériaux organiques tels que le bois et le cuir, afin de reproduire le son tel que l'artiste l'a voulu. Alliant la beauté artisanale du passé à la technologie du futur, les systèmes audio Sonus faber offrent un son naturel, immersif et tridimensionnel grâce à de magnifiques enceintes conçues à la main et construites pour durer des décennies. Pour plus d'informations, veuillez consulter Sonusfaber.com. À propos de SPARK Microsystems SPARK Microsystems construit la prochaine génération de dispositifs de communication sans fil à courte portée. SPARK fournit des liens de communication sans fil à haut débit et à très faible latence avec un profil de puissance ultra-faible, ce qui le rend idéal pour les réseaux personnels (PAN) utilisés dans les produits mobiles, grand public et connectés à l’IoT. S’appuyant sur des technologies brevetées, SPARK Microsystems s’efforce de minimiser et, à terme, d’éliminer les fils et les batteries d’un large éventail d’applications. Pour plus d’informations, veuillez consulter sparkmicro.com. Contact Details Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website https://www.sparkmicro.com

October 05, 2023 10:11 AM Eastern Daylight Time

Sonus faber Chooses SPARK Microsystems’ UWB Wireless Tech for Low Latency Home Audio Speakers

SPARK Microsystems

SPARK Microsystems, a Canadian fabless semiconductor company specializing in next-generation short-range wireless communications, today announced Italian speaker manufacturer Sonus faber has chosen SPARK’s UWB technology for its Duetto wireless speaker system. SPARK’s UWB technology enables low latency data transmission from wired to wireless speakers, allowing Sonus faber to deliver a high-quality, uncompressed audio performance that can’t be achieved with Bluetooth or Wi-Fi. Sonus faber’s new Duetto speaker system enables customers to enjoy their Duetto streaming home audio system with the satellite speaker of the stereo pair being connected to the main unit using the SPARK UWB-based solution. The system supports a range up to 8 meters for unfettered placement/positioning flexibility with no compromises in audio performance. The system, certified by ETSI and the Federal Communications Commission, enables customers to enjoy high precision wireless connectivity between speakers, maximizing placement options whilst enjoying market leading functionality and integration of music services and connectivity. “Sonus faber’s Duetto speaker system demonstrates the market’s evolutionary shift to true wireless audio that delivers premium sound without the wires,” said Julie Delamarre, SPARK Microsystems, Vice President of EMEA Sales. “The Duetto speaker system is based on SPARK’s UWB technology that enables low latency, deterministic, low power, and high-speed data transport, allowing Sonus faber to deliver uncompressed audio across wirelessly-linked speakers – an industry first achievement.” The ultra-low power, low latency and high-throughput SPARK UWB wireless transceiver enables a new class of short-range wireless connectivity for premium audio applications. Offering higher data rates and better robustness than other short-range wireless solutions – with extreme low latency that can’t be matched with Bluetooth or WiFi – SPARK UWB enables high fidelity uncompressed audio for a richer, more immersive audio experience. “SPARK’s UWB technology was chosen for the Duetto speaker system because of its capabilities to deliver uncompressed audio wirelessly with no latency, variability or bandwidth concerns,” said Livio Cucuzza, Chief Design Officer, Sonus faber. “These capabilities will give our customers a superior experience because they can enjoy audio as it was originally intended by the artists themselves, with the flexibility of wireless pairing between speakers.” About Sonus faber Sonus faber is a designer and manufacturer of high-end audio technology, founded in 1983 in Italy’s Veneto region, world-renowned for luxury goods manufacturing. Latin for “Artisan of Sound”, Sonus faber expertly informs their state-of-the-art audio engineering with the traditions of Italian design expertise, hand-producing speakers with design cues inspired by centuries of musical instruments, crafted from organic materials such as wood and leather to reproduce sound as the artist intended. Marrying the artisanal beauty of the past with the technology of the future, Sonus faber audio systems deliver natural, immersive, three-dimensional sound from beautiful, hand-designed speakers built to last for decades. For more information, please visit www.sonusfaber.com. About SPARK Microsystems SPARK Microsystems is building next generation short-range wireless communication devices. SPARK provides high data rate and very low latency wireless communication links at an ultra-low power profile, making it ideal for personal area networks (PANs) used in mobile, consumer and IoT-connected products. Leveraging patented technologies, SPARK Microsystems strives to minimize and ultimately eliminate wires and batteries from a wide range of applications while delivering a wired-like performance. For more information, please visit www.sparkmicro.com. Contact Details Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website https://www.sparkmicro.com

October 05, 2023 10:08 AM Eastern Daylight Time

Tiziana Advances Phase 2 Site Selection for Its Lead Clinical Program in Non-Active Secondary Progressive Multiple Sclerosis (SPMS) and The Company Prepares for Six-Month Clinical Data Update

Benzinga

By Rachael Green, Benzinga Tiziana Life Sciences Ltd. (NASDAQ: TLSA) recently announced the Company has initiated site selection for its lead intranasal anti-CD3 monoclonal antibody drug candidate “foralumab” program entering Phase 2a clinical testing in non-active Secondary Progressive Multiple Sclerosis (na-SPMS) patients. In total, the multi-center clinical trial will have six to ten new clinical trial sites across the US. According to the Company, another key data milestone is expected soon at the ECTRIMS conference, which will detail the results from the expanded access program after six months of treatment. Investors should take note, as this is a significant event for the company through providing six-month clinical results on the second cohort of four patients (numbers 3-6), and also providing a PET scan which shows neuroinflammation in the brain (microglia). ECTRIMS is the world’s largest research meeting in multiple sclerosis and will be held October 11-13 in Milan, Italy. Tiziana also recently announced the acceptance of a publication in the prestigious journal Proceedings of the National Academy of Sciences (PNAS) of its study validating the mechanism of action (MoA) using intranasally administered foralumab in Alzheimer’s disease (AD). The published study concluded that “nasal anti-CD3 has the potential to be a non-toxic novel immunotherapeutic approach for the treatment of Alzheimer’s disease (AD)”, which further supports the Company’s hypothesis for the use of foralumab in neurodegenerative disease. Key highlights from the Journal included: The authors conclude that “nasal anti-CD3 has the potential to be a non-toxic novel immunotherapeutic approach for the treatment of Alzheimer’s disease (AD)” FDA has cleared the IND for intranasal foralumab, a fully human anti-CD3 monoclonal antibody, for human study in mild to moderate Alzheimer’s Disease The publication shows anti-CD3 monoclonal antibody (mAb) administered intranasally, ameliorates disease in a 3xTg model of Alzheimer’s disease by targeting microglial activation in the brain, while expanding regulatory T cells in the periphery Remarkably, this reduced microglial activation and improved cognition occurs independent of amyloid beta disposition. The full publication can be found HERE Tiziana’s Foralumab Is A Promising Treatment With Potential To Treat Multiple Neurological Diseases “The anti-CD3 target is established and it’s validated,” said Tiziana COO and CMO Mathew Davis at a recent conference. “We are the only company that is delivering this intranasally. We are the only company that is in the clinic with a fully human anti-CD3 antibody.” The anti-CD3 monoclonal antibody used in Tiziana’s Foralumab binds to the CD3 receptor on the surface of T cells, typically used as a way to suppress the immune system to prevent transplant rejection or treat autoimmune disease. The challenge in treating these kinds of conditions has long been finding the balance between suppressing the immune response to protect the patient without harming the body’s ability to fight off actual threats like viral infections and bacteria. However, research shows that anti-CD3 antibodies can do just that. They are able to selectively dampen the autoimmune response – when the dysregulated immune system attacks the body’s own cells and tissue – without limiting its ability to detect and respond to external threats. The promising new treatment approach has already sparked interest from pharmaceutical industry leaders like Sanofi SA (NASDAQ: SNY), which just acquired an anti-CD3 therapy being developed for type 1 diabetes in a $2.9 billion acquisition of Provention Bio, Inc. Tiziana’s Foralumab is the only anti-CD3 monoclonal antibody treatment in clinical trials that is fully human — a significant differentiator as these tend to come with fewer adverse reactions than those that are genetically engineered. It’s also the only one that’s delivered via an intranasal spray, making it less invasive than an infusion and allowing it to travel directly to the T cells in the patient’s lymph nodes. In the neurological diseases that Tiziana is focused on, this formulation has allowed its lead drug candidate to bind to regulatory T cells, then these T cells activate and create Tregs which are specifically tasked with maintaining homeostasis and preventing the immune system from attacking itself. Once Foralumab creates these Tregs, they can cross through the blood-brain barrier and help fight neuroinflammation at its source. Tiziana Highlights Past Results And Upcoming Milestones Across Foralumab Clinical Trials During a recent investor conference, Davis focused on the exciting results Tiziana has seen so far from its clinical trials and highlighted some of the upcoming milestones and plans for the year ahead. Its lead program is in non-active secondary progressive multiple sclerosis (SPMS), a more severe stage of the debilitating disease that currently has no FDA-approved treatment. Instead, the standard of care typically involves treating the patient with Ocrelizumab, an anti-CD20 monoclonal antibody sold under the brand name Ocrevus by Genentech, a subsidiary of Hoffmann-La Roche AG (OTCQX: RHHBY). But the drug is not always as effective for SPMS patients as it is for other forms of MS. In fact, Davis noted that all of the patients in its clinical trials had previously tried Ocrelizumab and discontinued it when their symptoms continued to progress. In its ongoing expanded access program, for example, the Tiziana COO and CMO spoke about a patient who had discontinued the anti-CD20 treatment in 2021 when his condition had become so bad that he could no longer walk more than 100 feet without assistance. The non-active SPMS patient enrolled in Tiziana’s expanded access program in January 2022. “By the end of 2022, he was able to walk without assistance,” Davis said. “He’s back in his job and, as of this recording, he continues to walk without assistance.” In the biopharma’s most recent data readout, other patients from the expanded access program started to show similar improvement. Three of the four patients currently enrolled saw their fatigue scores decrease after three months. Meanwhile, a phase 1 trial found that microglia – a part of the innate immune system inside the brain – had significantly decreased activation in the brains of 5 out of 6 treated patients after three months. Davis said another data readout is expected soon, detailing the results from the expanded access program after six months of treatment. Tiziana has begun clinical site selection and plans to start a phase 2a trial in non-active SPMS before the end of this year with topline data expected by the end of 2024. The clinical-stage biopharma is also investigating Foralumab for Alzheimer’s disease (AD), another progressive neurological disease with an urgent need for better treatment options. Tiziana just received FDA approval to begin a phase 2 study in AD, and the company plans to launch that trial in the first half of next year. A press release on the acceptance from the Proceedings of the National Academy of Sciences (PNAS) can be found HERE along with the full publication HERE titled “Nasal Administration of anti-CD3 monoclonal antibody (mAb) ameliorates disease in a mouse model of Alzheimer’s disease”. To learn more about Tiziana, click HERE This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

October 05, 2023 09:15 AM Eastern Daylight Time

Interactive Strength Works To Sign Binding Acquisition Agreement That Would Transform The Digital Fitness Company Into A Profitable, High-Growth Business Across B2B and B2C Markets

Benzinga

By Rachael Green, Benzinga Interactive Strength, Inc. (NASDAQ: TRNR), doing business as FORME, is currently working towards signing a definitive agreement to acquire a connected hardware “target” after announcing a non-binding letter of intent last month. The combined Company is projected to generate $10 million in 2023, more than $25 million in gross revenue in 2024, and is expected to be cashflow positive and adjusted EBITDA profitable by the fourth quarter of 2024. The potential transaction is expected to accelerate FORME’s commercialization path, result in immediate scale across all functions and create a high-growth and profitable platform that sells connected hardware/software fitness platform across B2B and B2C channels. The premium smart home gym and virtual personal training provider is aiming to execute a definitive acquisition agreement by the fourth quarter of this year. Here are some of the growth opportunities investors can look for as FORME works toward a binding agreement by the end of this year. The Potential Acquisition Would Create A Significantly Scaled Up Connected Fitness Equipment Business “We believe this will be a transformational acquisition that can accelerate our commercialization path,” said FORME Founder and CEO Trent Ward. “We expect this transaction can help us achieve immediate scale across all of our cost centers, resulting in a high-growth, profitable platform that sells connected fitness equipment and digital fitness services across B2B and B2C channels.” In addition to scaling FORME’s sales, engineering, logistics and other functions, the connected fitness acquisition would be a synergistic merger that would immediately create cross-selling opportunities across both FORME’s and the target’s customer base. It also has the potential to bring in a strong B2B distribution partner for FORME’s premium smart home gym equipment, allowing FORME to ramp up its commercialization efforts. Combined, FORME and the target acquisition are projected to bring in over $10 million in gross revenue for 2023 and over $25 million in for 2024, achieving both positive cash flow and positive adjusted EBITDA by the fourth quarter of next year. The Upside Potential Of FORME’s Transition To A B2B-Led Platform Right now, FORME primarily targets the B2C market, offering smart home gym equipment and a variety of virtual personal training plans directly to consumers. But as the rapid decline of Peloton (NASDAQ: PTON) suggests, that home fitness market just isn’t big enough to sustain long-term growth as post-pandemic consumers return to the gym. Peloton recently reported net losses of over $241 million for its fourth quarter, as sales and subscriptions continue to decline. FORME has a differentiated market strategy that addresses changing consumer habits and developed a flexible approach to its B2C segment. The Company offers both premium equipment and a range of monthly subscription options at different price points that offer live one-on-one coaching with a personal trainer through the user’s connected fitness mirror or their mobile device. But its biggest growth opportunity comes from its pivot into the B2B space, delivering its equipment and services to hotels, gyms and other enterprise customers that want to offer premium fitness options to their customers. FORME has already made some moves in this B2B channel but the potential acquisition, which is said to derive most of its sales from the B2B space, would dramatically increase its exposure to that more profitable, more scalable market. This would allow FORME to become a B2B-led platform while still maintaining and growing its B2C channel, potentially sidestepping the profitability challenges faced by Peloton and other B2C-focused companies in the connected fitness space. In an August report on FORME, Goldman Small Cap Research calls the digital fitness platform “a rare, high growth, low valuation firm offering significant upside potential.” Goldman cited the potential acquisition slated for the fourth quarter as well as the opportunity for similar deals in the future as FORME targets other acquisitions over the next few years. To watch a video with the product in action, CLICK HERE This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

October 05, 2023 09:15 AM Eastern Daylight Time

Pro League Network, NBA Legend Kevin Garnett and Big Ticket Sports to Launch “str33t,” 3x3 Pro Streetball League

Pro League Network

Pro League Network (PLN), the leading sports entertainment company producing fun, bettable sports, and Kevin Garnett’s sports venture arm Big Ticket Sports announced today a joint-venture to launch str33t, a new 3x3 professional streetball-style basketball league. The first str33t series is expected to launch in early 2024 and will feature teams competing over 4 weeks from some of the best streetball cities. Players will compete as men, women and co-ed teams and play under FIBA 3x3 rules with daily and season-long prize pools. Teams will square off in a round robin format culminating in a final championship. 3x3 basketball debuted as an Olympic sport at the Tokyo Olympics. “HoopItUp is the leader in 3x3 and I’m excited to work with the PLN team to create a professional series with str33t that gives the incredible 3x3 players a major platform to show what they can do to fans across the country,” said Garnett. With the partnership, Kevin Garnett, and Big Ticket Sports become investors in PLN, which recently announced its seed funding from IA Ventures and Eberg Capital. Garnett will also advise on the strategic direction of the str33t league. Big Ticket Sports owns and operates HoopItUp, the grassroots 3x3 basketball tour which has had millions of participants in city-based events since 1989. “The fast-paced 3x3 games along with the raw and organic energy of streetball is going to be so exciting for these co-ed professional ballers,” said PLN co-founders Bill Yucatonis and Mike Salvaris. “And to build it with an NBA legend and leader like KG is at a whole other level." With roots in urban areas in the U.S. since the 1980s, 3x3 has become one of the most popular forms of basketball worldwide in recent years. The Olympics introduced 3x3 basketball to its basketball program at the Tokyo 2020 Summer Olympics. “With the average 3x3 basketball game taking less than 20 minutes, we believe str33t is tailormade for digital consumption and sports betting. We are thrilled to be collaborating with Bill, Mike and the PLN team on this dynamic venture,” said George Daniel, CEO of Big Ticket Sports and HoopItUp. The str33t brand was created with Cannes Lions-winning Director and Producer, Wayne Holloway, whose experience spans sports, music, film and television, including his role as Director of the famous Adidas House Party Originals starring Garnett, David Beckham, Young Jeezy, Missy Elliott and more. Launched in Dec. 2022, PLN creates a new type of sports entertainment that combines its unique sports portfolio with established creator audiences and the team’s deep expertise in regulated wagering markets. The result is the creation of compelling watch’n’wager content that is fun for sports fans and allows sportsbooks to better monetize their peaks and valleys of schedule with compliant, regulated and professional sports content. The company recently announced its seed funding round, led by Roger Ehrenberg via IA Ventures and Eberg Capital, and named gaming industry veterans Chris Grove (Acies Capital, Eilers & Krejcik) and Jeff Ma (ESPN, Microsoft) as Advisors. PLN’s portfolio of over 16 brands and growing includes sports like viral sensations World Putting League, CarJitsu Championship and SlapFIGHT Championship, as well as emerging sports like XTreme Long Drive, Pro Footgolf, National Carrom League, Strongman, T3 TouchTennis, Beastball and more. PLN sports are carried by some of the nation’s largest sportsbooks including DraftKings, Bet365 and Betfred and are available for wagering in over a dozen states including New Jersey, Tennessee, Arizona, Maryland, Pennsylvania, Illinois, and more, plus in several countries including Canada, UK and Australia. PLN streams its sports and programming live via its social channels and owned and operated sites. PLN sports have aired via several distribution partners, including live streaming on The Action Network and The Hammer and customized social media content on Betr Media and Dimers. The company recently created PLN Studios in Branson, Missouri, and signed a platform deal with BrinxTV and Trilith Studios in Atlanta to create live and recorded made-for-wagering and shoulder content to expand the audience of its sports brands and athletes. For more information, please visit www.ProLeagueNetwork.com and www.str33t.com. About Pro League Network Pro League Network (www.ProLeagueNetwork.com) is a sports entertainment company headquartered in New York City that is focused on creating, fun, exclusive niche sports brands developed for broadcast audiences and betting. PLN readies and monitors each sport for wagering, as well as produces, distributes and monetizes each sport through wagering, sponsorship and affiliate. PLN’s portfolio of 16 sports includes the viral sensations World Putting League Championship and CarJitsu Championship, among others. PLN has raised funding from IA Ventures and EBerg Capital, and counts Chris Grove, Jeff Ma and Kevin Garnett, among others, as Advisors. About Big Ticket Sports Owned by NBA MVP and Hall of Famer Kevin Garnett, Big Ticket Sports (www.bigticketsportsllc.com) is dedicated to creating dynamic sports and experiential events. Big Ticket Sports owns and operates the iconic HoopItUp 3x3 basketball (www.hoopitup.com) and KickIt Soccer 3v3 soccer as well as providing event activation for clients such as the NBA. Since its inception 30 years ago, Hoop It Up has been the largest 3x3 basketball tour, recognized as the most prolific grassroots basketball tour with millions of worldwide participants. Big Ticket Sports is managed by former National Lacrosse League Commissioner George Daniel. Contact Details Str33t Media media@str33t.com Company Website https://www.str33t.com/

October 05, 2023 08:00 AM Eastern Daylight Time

Video

SIGMA Announces 10-18mm F2.8 DC DN | Contemporary, the World's Smallest and Lightest F2.8 Zoom Lens for APS-C Mirrorless Cameras

SIGMA CORPORATION OF AMERICA

SIGMA Corporation of America, the US subsidiary of SIGMA Corporation (CEO: Kazuto Yamaki. Headquarters: Asao-ku, Kawasaki-shi, Kanagawa, Japan) is pleased to announce the SIGMA 10-18mm F2.8 DC DN | Contemporary lens. This is the first SIGMA lens being announced and released concurrently for the L-Mount, Sony E-mount and Fujifilm X Mount. The lens will be available through authorized retail partners on October 26, 2023 for $599. This is the world's smallest and lightest F2.8 zoom lens designed for APS-C format mirrorless systems at just 2.8 x 2.4 inches (72.2 x 62mm) and 9.2 ounces (260g)*. The lens covers a 15-36mm (35mm equivalent) focal range, with a fast F2.8 constant aperture. Paired with the 18-50mm F2.8 DC DN | Contemporary, this duo of lenses covers a 15-75mm (35mm equivalent) range with the same bright F2.8 maximum aperture at a combined weight of under 19.5 ounces (550g). * As an AF F2.8 zoom lens for mirrorless cameras with an APS-C sensor. As of October 2023 by SIGMA. Figures are for L-Mount. Additional specifications included in the full press release below. The SIGMA 10-18mm F2.8 DC DN | Contemporary uses an aspherical concave lens with a large polarization ratio and high refractive index in the first group, reducing the number of elements in the first group and shortening the overall length. Additionally, a new push-on petal type hood has been developed. Thanks to the new structure with a spring and lever, which is not utilized by any other manufacturer, the hood has been made both thinner and smaller, which also contributes to the overall compactness of the lens. The optical design of the lens delivers a short 4.6 inch (11.6cm) minimum focusing distance and a maximum magnification ratio of 1:4 at the wide end, allowing for close-up photography with pleasing background separation. The optical design also minimizes focus breathing, and the stepping motor delivers swift, quiet autofocus during both still and video use. Thanks to its high optical quality and compact size, the SIGMA 10-18mm F2.8 DC DN | Contemporary lens is an excellent choice for travelers, adventure photographers, vloggers, content creators, and family photographers who want great image quality when paired with today's leading lightweight crop-sensor cameras on the three supported mirrorless platforms. Learn more about the SIGMA 10-18mm F2.8 DC DN | Contemporary lens: https://www.sigmaphoto.com/10-18mm-f2-8-dc-dn-c #SIGMA #SIGMA1018mmContemporary #SIGMAContemporary #SIGMAContemporaryZoom Designed exclusively for APS-C mirrorless cameras C | Contemporary SIGMA 10-18mm F2.8 DC DN Small lens, big personality. Large-aperture, ultra-wide-angle zoom with expressive imaging capabilities Extremely compact and lightweight Ideal for landscapes, travel, video and online content creation Available: October 26, 2023 Supplied accessories: Push-on petal type hood LH706-02, FRONT CAP LCF-67mm III, REAR CAP LCR II Available mounts: L-Mount, Sony E-mount, FUJIFILM X Mount * The appearance and specifications of the product are subject to change. * This product is developed, manufactured and sold based on the specifications of E-mount which was disclosed by Sony Corporation under the license agreement with Sony Corporation. * L-Mount is a registered trademark of Leica Camera AG * L-Mount is a registered trademark of Leica Camera AG. Create expressive images on the go with the world's smallest and lightest ultra-wide-angle zoom lens for APS-C cameras* The SIGMA 10-18mm F2.8 DC DN | Contemporary is the world's smallest and lightest ultra-wide- angle zoom lens for APS-C cameras*, covering an effective focal range of 15-27mm (35mm equivalent). With ultra-sharp optics, a bright F2.8 aperture and a newly developed push-on petal type lens hood, photographers can create expressive images anytime, anywhere. The lens features a unique aspherical element that reduces the overall size of the lens and enhances image quality. An 11.6cm (1:4) minimum focusing distance to produce unique compositions, with expansive backgrounds and pleasing bokeh. With a weight of only 260g*, a fast AF stepping motor and minimal focus breathing, the lens can be easily mounted onto a motorized gimbal to create impressive video content for social media use and professional projects. The lens is available for L-Mount, Sony E-Mount and FUJIFILM X Mount systems. * As an AF F2.8 zoom lens for mirrorless cameras with an APS-C sensor. As of October 2023 by SIGMA. * L-Mount specification. [ Key Features ] 1) Large-aperture, ultra-wide-angle zoom with expressive imaging capabilities By utilizing unique optics which have been designed to correct lens aberrations, the SIGMA 10-18mm F2.8 DC DN | Contemporary produces images that are sharp across the entire image. Aspherical lens, special low-dispersion glass The use of an aspherical lens with large eccentricity and refractive index as the first lens element has enabled a lens construction with a reduced number of elements. Used in conjunction with multiple aspherical lenses and special low-dispersion glass, the lens can produce high resolution images whilst remaining compact and lightweight. Minimum focusing distance 11.6cm, maximum magnification ratio 1:4 Create expressive close-up images using the 11.6cm minimum focusing distance when shooting at 10mm. With a magnification ratio of 1:4, the lens captures unique portraits, still life and more. 2) Extremely compact and lightweight The SIGMA 10-18mm F2.8 DC DN | Contemporary is the world's smallest and lightest ultra-wide angle zoom lens for APS-C cameras*, with a length of 62.0mm, a maximum diameter of 72.2mm, and a weight of 260g*. The lens can be carried around with ease or attached to an APS-C mirrorless camera and a gimbal to create an ultra-portable video setup. * As an AF F2.8 zoom lens for mirrorless cameras with an APS-C sensor. As of October 2023 by SIGMA. * The values are for L-mount. Newly developed push-on petal type hood A newly developed push-on petal type hood is included with the lens. Unlike the conventional bayonet type lens hoods that attach with a rotating movement, this push-on type lens hood is attached onto the lens using a spring and lever system. The implementation of this new design reduces the size and thickness of the hood so that it matches the compact size of the lens. Compact, lightweight, high-performance F2.8 constant aperture zoom lens series When combined with the SIGMA 18-50mm F2.8 DC DN | Contemporary, a total, unbroken focal range of 15-75mm (35mm equivalent) with a constant F2.8 aperture can be covered. The combined weight of both lenses is only 550g. *The values are for L-mount. Fast-growing lineup of lenses for APS-C mirrorless cameras In addition to the SIGMA 18-50mm F2.8 DC DN | Contemporary, the lineup of lenses for APS-C mirrorless cameras includes 16mm, 23mm, 30mm, and 56mm prime lenses, all with F1.4 brightness. This flexible lens selection can be used for a wide variety of photographic applications. *Lineup is as of October 2023. Mount with dust and splash resistant structure The lens mount incorporates rubber sealing to protect it from dust and water drops. 3) Ideal for landscapes, travel, video and online content creation With ultra-wide focal length, portable body and razor-sharp optics, the SIGMA 10-18mm F2.8 DC DN | Contemporary is the perfect portable option for landscape, travel, interior and street photography. It also boasts impressive video capability owing to its bright F2.8 aperture, which makes it well-suited to shooting in low-light environments and creating a shallow depth-of-field. The ultra-wide angle-of-view is ideal for hand-held vlogging that requires the capture of both the subject and the environment. Designed to minimize focus breathing The lens has been designed to suppress focus breathing. The change in angle-of-view due to focus shift is minimized, creating a natural-looking focus shift when recording video. Supports various camera functions The lens is compatible with the electronic image stabilization function, aberration correction function, DMF, and AF+MF in camera bodies from various manufacturers. The advantage using this ultra-wide-angle lens is that it provides a generous angle-of-view even when the electronic image stabilization function crops the image. * Function available on supported cameras only. Available corrections or auto correction functionality may vary depending on the camera model. Stepping Motor A fast and quiet stepping motor is used to deliver precise AF when shooting stills and video. It is fully compatible with in-camera AF tracking modes. [ Additional Features ] Lens construction: 13 elements in 10 groups (3 FLD, 1 SLD, and 4 aspherical elements) Inner focus system Compatible with high-speed autofocus Stepping motor Compatible with Lens Aberration Correction * Function available on supported cameras only. Available corrections and auto correction functionality may vary depending on the camera model. * On cameras where lens aberration correction is controlled with 'ON' or 'OFF' in the camera menu, please set all aberration correction functions to 'ON' (AUTO). Supports DMF and AF+MF Compatible with AF assist (Sony E-mount only) Super Multi-Layer Coating Support for switching between linear and non-linear focus ring settings on L-Mount bodies * Function available on supported cameras only. Mount with dust and splash resistant structure Push-on petal type hood LH706-02 Compatible with SIGMA USB DOCK UD-11 (sold separately / for L-Mount only) Designed to minimize flare and ghosting Every single lens undergoes SIGMA's proprietary MTF measuring system 7-blade rounded diaphragm High-precision, durable brass bayonet mount Mount Conversion Service available "Made in Japan" craftsmanship Learn more about SIGMA's craftsmanship here: https://www.sigma-global.com/en/about/craftsmanship/ [ Key Specifications ] Lens Construction: 13 elements in 10 groups (3 FLD, 1 SLD, 4 aspherical) Angle of view: 109.7°-76.5° (APS-C) Number of diaphragm blades: 7 (rounded diaphragm) Minimum aperture: F22 Minimum focusing distance: 11.6 (W) - 19.1 (T) cm / 4.6 (W) - 7.6 (T) in. Maximum magnification ratio: 1:4 (W) - 1:6.9 (T) Filter size: 67mm Dimensions (Max. Diam. x Length): 2.8 x 2.4 in. / 72.2 x 62mm (L-Mount) 2.8 x 2.5 in. / 72.2 x 64mm (Sony E-mount) 2.8 x 2.5 in. / 72.2 x 64.3mm (Fujifilm X Mount) Weight: 9.2 oz. / 260g (L-Mount) 9.0 oz. / 255g (Sony E-mount) 8.8 oz. / 250g (Fujifilm X Mount) [ Product Barcode ] [ Contact ] For further information, please contact your local authorized SIGMA Service Station listed here: https://www.sigma-global.com/en/world-network/ [ Information ] SIGMA Corporation: https://www.sigma-global.com/en/ Product information: https://www.sigma-global.com/en/lenses/c023_10_18_28/ [ About SIGMA Corporation ] Craftsmanship. Precision. Dedication. Since 1961, SIGMA has been devoted to the pursuit of advancing photographic technology. Unique to the industry, the family-owned business produces its high-quality, award-winning still photo and cinema camera lenses, DSLR and mirrorless cameras, flashes, filters and accessories from its state-of-the-art manufacturing facility located in Aizu, Japan. In 2012, the company introduced SIGMA Global Vision with three distinct lens lines: Art, Contemporary and Sports. Designed for industry camera mount systems including Canon, Fujifilm, Leica, Nikon, Olympus, Panasonic, Sony and SIGMA, each lens is handcrafted and tested in Japan to ensure a high-performance, premium product that is purpose-built to last. In 2016, the SIGMA Cine lens lineup was launched, further cementing SIGMA as an innovator in imaging engineering. Embodying the core optical DNA that has defined the SIGMA benchmark of excellence, SIGMA Cine lenses meet the needs of advanced 6k and 8k cinema production. Forming the landmark L-Mount alliance alongside Leica and Panasonic in 2018, SIGMA continues its storied tradition of imaging excellence through groundbreaking innovations such as the native L-mount SIGMA fp and fp L full-frame mirrorless digital cameras, announced in July 2019 and March 2021 respectively. These products, along with over 30 award-winning SIGMA Global Vision lenses available in native L-Mount format, demonstrate SIGMA's continued commitment to the creative community through expanded product offerings. With the fp, fp L and these lenses, even more users can now leverage SIGMA's renowned optical formula to achieve their creative vision with ease. For more information about SIGMA America, please visit sigmaphoto.com and SIGMA Blog. Follow SIGMA America (Photo): Facebook | Twitter | Instagram Follow SIGMA America (Cine): Facebook | Twitter | Instagram Contact Details SIGMA +1 631-585-1144 SIGMA.PR@Sigmaphoto.com Company Website https://www.sigma-global.com/en/

October 05, 2023 04:00 AM Eastern Daylight Time

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SIGMA Announces 10-18mm F2.8 DC DN | Contemporary, the World's Smallest and Lightest F2.8 Zoom Lens for APS-C Mirrorless Cameras