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Novo Holdings participates in $290m strategic financing of Sangon Biotech

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COPENHAGEN, Denmark, Aug. 16, 2023 /PRNewswire/ — Novo Holdings, a leading international life science investor, today announced it has participated in a $290 million (USD) strategic financing round of Sangon Biotech. Sangon is a leading provider of life science tools and services, enabling scientists across China to perform state-of-the-art research in hospitals, universities and commercial settings.

Based in China, and with close to 30 years in operation, Sangon Biotech is a leading provider of life science tools in China. The Company offers products and services within four main categories: 1) DNA synthesis, 2) R&D reagents and consumables, 3) genetic sequencing and 4) protein- and antibodies-related products, making the Company a one-stop provider of life science tools.

With 47 manufacturing facilities across China, and a customer base comprising more than 7,000 academic institutions and over 40,000 biotech/biopharma and IVD companies across the country, Sangon ranges as the number one provider of DNA synthesis in China. Overall, the Company is among the leading life science tool providers in China, where the life science tool market segment continues to grow by 15% annually, excluding the effects of COVID-19.

The strategic financing enables Sangon Biotech to continue to expand its service and product portfolio bandwidth, accelerate R&D activities and talent development and advance Sangon Biotech’s go-to-market strategy that involves digitalisation and geographical expansion.

Tracey Wang, CEO of Sangon Biotech, said: “I am very pleased that the financing round attracted this many reputable institutional investors. As a pioneer in the life science tools industry in China for close to 30 years, Sangon Biotech is now enabled to continue to upgrade and build development capabilities, to optimise and expand production processes, and to invest in new technologies and products, in order to meet a diversified market demand. We look forward to working closely with Novo Holdings and our other investors to accelerate our business development in China and globally, with a mission to provide academia and industrial partners with the best tools to fight various diseases.”

Dr Amit Kakar, Senior Partner and Head of Novo Holdings Asia, said : “Sangon Biotech holds a long-established leadership position in China’s life science tool field. We are impressed by the Company’s portfolio bandwidth, stellar reputation among customers and operating cadence. Our investment in Sangon Biotech is another important milestone in the development of our regional ambitions for Asia. The investment builds on Novo Holdings’ strategy to identify and invest in life science and healthcare companies that are true leaders in their field. We are excited to work together with Sangon Biotech to accelerate its innovation pace and gain a stronger foothold in the global life science tool space.”

Novo Holdings is participating in the strategic financing round together with a consortium of renowned investors, including GL Capital, CPE, Greenwoods Asset Management, Huagai Capital, CDB Venture, China Merchant Health and other smaller investors.

About Novo Holdings:

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.

www.novoholdings.dk

About the Novo Nordisk Foundation

Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.

www.novonordiskfonden.dk/en

About Sangon Biotech

Shanghai Sangon Biotech is a well-recognised provider with comprehensive portfolio coverage in the life sciences research product and service industry in China. The Company offers interrelated products and services including DNA synthesis products, genetic engineering services, life sciences research consumables, and protein and antibody related products and services which are used to facilitate the studies of life sciences including animal and plant, disease, medical diagnosis, drug development, food industry and agriculture.

View original content:https://www.prnewswire.co.uk/news-releases/novo-holdings-participates-in-290m-strategic-financing-of-sangon-biotech-301901169.html

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Blockchain Press Releases

Aperture Finance Secures Series A Funding at a $250M Fully Diluted Valuation to Build Intent-based Architecture for DeFi

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 $APTR native platform token set for release on May 31, 2024

MOUNTAIN VIEW, Calif., May 29, 2024 /PRNewswire/ — Aperture Finance, a decentralized finance (DeFi) platform pioneering AI-powered intents, has raised a Series A funding round, bringing the total across all rounds to $12 million and valuing the project at $250 million. The round was led by top-tier venture capital firms including Skyland Ventures, Blockchain Founders Fund, and Krypital Group, with participation from notable investors like Alchemy, SNZ, Stratified Capital, Tide, Cipholio, ViaBTC, CatcherVC, and Double Peak. Previous rounds included participation from ParaFi Capital, Arrington Capital, Divergence, Blockchain Founders Fund, Laser Digital (Nomura Group), Skyland Ventures, Costanoa, Rarestone, Krypital Group, Big Brain Holdings, LD Capital, ViaBTC, Cipholio, Double Peak, Athena Ventures, Coinseeker, Artemis Capital, and AWS.

Aperture Finance is innovating the use of Intents, a novel approach designed to streamline complex DeFi operations. Unlike traditional transactional methods, Intents allow users to specify their desired outcomes, simplifying interactions with DeFi protocols and enhancing accessibility. This innovative system leverages Uniswap V3, enabling users to declare end goals, such as liquidity rebalancing at specific price points, with transactions executed only when these conditions are met. The platform is already live on 9 EVM-compatible chains, processing a transaction volume exceeding $2.7 billion with 280,000+ unique users and 15k+ daily active users.

“Intents architecture bridges the gap between sophisticated financial strategies and everyday DeFi users,” said Yonkuro, Head of Crypto at Skyland Ventures. “By enabling users to articulate their financial goals in natural language, Aperture is  making advanced DeFi tools accessible to a broader audience, from retail investors to institutional players.”

The platform’s decentralized network of solvers calculates optimal transaction flows, which are then simulated and ranked by Aperture’s smart contracts. Initially launching with a centralized solver, the network has expanded to third-party solvers including Propeller Heads and Enso Finance with other solvers like Tokka Labs set to join in Q3 2024.

Aperture plans to further leverage its Large Language Model (LLM) interface that will convert user intents expressed in natural language into a domain-specific language (DSL) that can be codified on-chain. This feature aims to ensure clarity and precision in user instructions, further democratizing access to complex financial instruments.

“Aperture Finance is committed to reducing the learning curve in DeFi and providing more strategic options for our users,” said Peter Tan, Head of Product at Aperture Finance. “Our goal is to offer the same level of execution and pricing typically reserved for large institutions, making DeFi more inclusive and effective.”

The new funding will support the development of Aperture’s Intents infrastructure, expand its solver network, and enhance the user experience with the forthcoming LLM integration. This investment underscores the growing confidence in Aperture Finance’s potential to transform the DeFi landscape.

Following a successful airdrop campaign with participation from over 300,000 users, Aperture Finance will launch its $APTR token on Bybit on May 31, 2024.

About Aperture Finance
Aperture Finance is a pioneer in AI-powered intents to enhance the DeFi experience. Featuring an IntentsGPT interface and an AI-driven smart solver simulation, Aperture’s native solver network provides any DeFi user with institutional-grade intelligence. Combining the brightest minds in technology and finance, the founding team includes alumni from Amazon Web Services and Google, Stanford, Cornell, and UC Berkeley, and Citadel, JPMorgan Chase, and AIG. Aperture was a cohort member of Most Valuable Builder V by Binance Labs and participated in CoinMarketCap (CMC) Accelerator and HK Cyberport Incubation Programs.

Logo – https://mma.prnewswire.com/media/2424050/Aperture_Finance_Logo_Vertical_Logo_Logo.jpg

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Vitalik Buterin claws back crypto community’s right to redefine ‘inflation’

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Ethereum’s co-founder argues for the crypto community’s authority to redefine “inflation” as the expansion of currency supply, challenging conventional economic definitions and tackling misinformation.

Vitalik Buterin, one of the creators of Ethereum, has emphasized that the crypto community has already staked its claim to redefine the term “inflation.”

Buterin’s remarks were prompted by a post from digital media outlet Axios, which humorously suggested that “inflation” now refers to high prices rather than the traditional concept of rising costs.

Although the Axios post was presented in a lighthearted manner, Community Notes (CN) clarified that the definition of inflation remains unchanged.

Buterin’s response, posted on Farcaster, contested Axios’ interpretation of inflation by asserting that the crypto community has already reshaped the meaning of the term.

“[…] we already decided that it now just means ‘increase in the total supply of a currency’.”

Buterin’s rebuttal garnered support from other users on Farcaster, including former Coinbase employee Binji.eth.

Traditionally, inflation refers to the general increase in the price level of goods and services, resulting in decreased purchasing power as currency value diminishes.

However, Buterin’s argument suggests a cultural shift in the definition of inflation, proposing that ongoing global inflation arises from an essentially unlimited increase in the total supply of currency.

Tech investor Lee Edwards criticized Axios’ initial post for perpetuating misconceptions rather than educating readers.

Buterin has recently been active on Farcaster, advocating for community-driven solutions and initiatives focused on preserving privacy and addressing exploitation issues.

While Buterin has not commented on the concerns surrounding Ethereum Foundation researchers Dankrad Feist and Justin Drake’s involvement with EigenLayer, their decision to become advisors at EigenLayer in exchange for significant compensation in EIGEN tokens has sparked debate within the crypto community.

While some members support the transparency of the disclosures, others have criticized the decision, suggesting that the substantial compensation could influence decision-making.

Source: cointelegraph.com

The post Vitalik Buterin claws back crypto community’s right to redefine ‘inflation’ appeared first on HIPTHER Alerts.

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Blockchain dev Sphere introduces bank-to-wallet Telegram extension

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Sphere Labs, a blockchain developer dedicated to facilitating stablecoin services for corporate clients, has unveiled a new fiat on-ramp and off-ramp tailored to operate within Telegram.

The bank-to-wallet extension enables Telegram users to seamlessly transfer funds between their bank accounts and wallets directly within the Telegram app, with an advertised fee of 0.1% per transaction for early adopters.

This service will be available to early adopters starting the week of May 27, with a full rollout expected later this year.

While users from any unsanctioned country can utilize the Telegram extension, they are required to link the service with a bank account denominated in United States dollars or euros.

Telegram remains a hotbed of crypto innovation and development, boasting a plethora of bots and applications such as Unibet and the CoinGecko bot, fostering a robust blockchain ecosystem within the platform.

At the heart of Telegram’s appeal to crypto investors, speculators, and enthusiasts lies the Telegram Open Network (TON), which integrates various components including the TON Blockchain, TON DNS, TON storage, and TON Sites, offering users a comprehensive solution for all their Web3 requirements.

According to DemandSage, Telegram boasts an impressive 800 million monthly active users, with over 52 million users engaging with the platform on a daily basis. DemandSage also reports that a staggering 15 billion messages are exchanged on Telegram daily, with the app being downloaded more than 1 billion times. Telegram is projected to reach 1 billion users by the end of 2024.

Furthermore, India ranks as the country with the highest number of Telegram users, estimated at 104 million users, making the platform an ideal environment for delivering fintech services to emerging markets.

The expansion of financial services to developing countries remains a central focus of the blockchain industry, with companies like Ripple Labs and Standard Diamond Co. striving to develop innovative solutions for those lacking adequate financial services in the modern era.

Source: tradingview.com

The post Blockchain dev Sphere introduces bank-to-wallet Telegram extension appeared first on HIPTHER Alerts.

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