All posts by Sai Krishna

Total Investment of Approx. USD 6.8 Million in Product Development for Malaria, NTDs and Other Emerging & Re-emerging Infectious Diseases Such as Ebola Disease

TOKYO, Oct. 29, 2026 /PRNewswire/ — The Global Health Innovative Technology (GHIT) Fund announced today a total investment of approximately JPY 1.06 billion (USD 6.8 million¹) in nine R&D projects for the development of drugs, vaccines and diagnostics for malaria, neglected tropical diseases (NTDs) and emerging & re-emerging infectious diseases such as Ebola disease. ²

Investment of approx. JPY 450 million (USD 2.9 million¹) for Clinical Validation, Regulatory Approval and Programmatic Launch of Rapid Diagnostic Test for Trachoma

Trachoma is an NTD caused by infection with the bacterium Chlamydia trachomatis. It remains a public health problem and is responsible for causing blindness or visual impairment in approximately 1.9 million people globally. Currently, nearly 92 million people live in endemic areas and remain at risk of blindness due to trachoma³.

Trachoma control programs currently rely on Mass Drug Administration (MDA) of antibiotics. This creates a critical demand for a point-of-care rapid diagnostic test (RDT) to guide timely and accurate field-level decision-making on when to start or stop MDA.

The GHIT Fund has decided to invest approximately 450 million yen in a project to develop a rapid diagnostic test for trachoma, led by Drugs and Diagnostics for Tropical Diseases (DDTD), Medical & Biological Laboratories Co., Ltd. (MBL), The Carter Center, and Big Eye Diagnostics, Inc. Supported by the GHIT Fund since 2024, the project aims to establish a diagnostic test that fully complies with the WHO Target Product Profile (TPP). This new investment will further accelerate clinical evaluations, regulatory approvals, and programmatic launch.

The GHIT Fund Invests Approximately JPY 210 Million (USD 1.3 million¹) to Meet Urgent Need for Rapid Diagnostic Development for Ebola Disease

Ever since the World Health Organization (WHO) declared a Public Health Emergency of International Concern (PHEIC) on May 17, 2026 (Japan time) in response to the outbreak of Ebola disease caused by the Bundibugyo virus in the Democratic Republic of the Congo (DRC) and Uganda, the GHIT Fund has focused its support on product development for rapid diagnostic technologies and point-of-care (POC) testing for filovirus infections, including Ebola disease.

An outbreak with over 4,500 deaths as of October 21, 2026, has been reported in the DRC⁴. Rapid diagnosis is essential to prevent transmission, and the GHIT Fund has decided to invest a total of approximately JPY 210 million (USD 1.3 million¹) in three projects for the rapid diagnosis of Ebola disease. For details, please refer to Appendix 1.

1) Development of a new RT-LAMP/nucleic acid chromatography diagnostic device for rapid screening of for the Bundibugyo virus led by Medical & Biological Laboratories Co., Ltd. and Nagasaki University in Japan.

2) Development and field investigation of a lateral flow immunoassay for the Ebola hemorrhagic fever Bundibugyo strain in the DRC led by Saitama University in Japan.

3) Development of a LAMP-based assay for detection of Bundibugyo virus (BDBV) led by Eiken Chemical Co. Ltd. in Japan.

In addition, the GHIT Fund will invest a total of approximately JPY 400 million (approx. USD 2.5 million¹) in the following five R&D projects. These include a project to develop a next-generation vaccine against Lassa fever, which is widespread in West Africa, as well as rapid antigen tests (RAT) for high-priority zoonotic pathogens, specifically the Nipah and Hendra viruses, which pose a risk of severe outbreaks with potential “Disease X” pandemic capacity. Investment will also cover product development for malaria and neglected tropical diseases (NTDs), such as dengue fever, chikungunya, and Chagas disease.

1. Construct and formulation optimization and efficacy evaluation of a bivalent mRNA-lipid nanoparticle vaccine for Lassa virus led by the University of Osaka (Center for Advanced Modalities and Drug Delivery System [CAMaD], Research Institute for Microbial Diseases [RIMD], and Graduate School of Medicine [UOsaka Med]) and The University of Texas Medical Branch (UTMB).
   
   
   
   
2. Strategic high-performance immunoglobulins for epidemic and lethal diseases, and to develop a highly accurate rapid antigen test (RAT) for detecting Nipah virus (NiV) and Hendra virus (HeV) infections, both of which have the potential to cause severe outbreaks, led by PATH and iBody Inc.
   
   
   
   
3. Improving antimalarial potency of antisense oligonucleotides through bioinformatics and machine-learning algorithms led by Eisai Co., Ltd. and Medicines for Malaria Venture (MMV).
   
   
   
   
4. Innovative approaches to improve success rate in Chagas disease drug discovery led by Nagasaki University, Eisai Co., Ltd., Drugs for Neglected Diseases initiative and University of Dundee.
   
   
   
   
5. Rapid whole-blood multiplex antigen test for serotype-specific dengue and chikungunya detection led by VisGene, Ltd., University of Miyazaki, Mahidol University, Universidad Nacional Mayor de San Marcos in Peru and Centro de Investigaciones Tecnologicas, Biomedicas y Medioambientales in Peru.

Please refer to Appendix 1 for detailed descriptions of these projects and their development stages.

As of September 30, 2026, there are 53 ongoing projects, including 26 discovery projects, 14 preclinical projects, and 13 clinical trials⁵ in the GHIT Fund’s portfolio. The total amount of investments since 2013 is JPY 48.1 billion (USD 305 million¹) (Appendix 2).

¹ USD 1 = JPY 157.31, the approximate exchange rate on Sep 30, 2026.

² These awarded projects were selected and approved as new investments from among proposals to RFP2025-002 and RFP2026-001 for the Target Research Platform, the Screening Platform, the Hit-to-Lead Platform, and the Product Development Platform.

³ WHO: https://www.who.int/news-room/fact-sheets/detail/trachoma

⁴ Centers for Disease Control and Prevention https://www.cdc.gov/ebola/situation-summary/index.html

⁵ This number includes projects in the registration phase.

The GHIT Fund is a Japan-based international public-private partnership (PPP) fund that was formed between the Government of Japan, multiple pharmaceutical companies, the Gates Foundation, Wellcome, and the United Nations Development Programme (UNDP). The GHIT Fund invests in and manages an R&D portfolio of development partnerships aimed at addressing neglected diseases, such as malaria, tuberculosis, and neglected tropical diseases, which afflict the world’s vulnerable and underserved populations. In collaboration with global partners, the GHIT Fund mobilizes Japanese industry, academia, and research institutes to create new drugs, vaccines, and diagnostics for malaria, tuberculosis, and neglected tropical diseases. https://www.ghitfund.org/

Appendix 1. Project Details

ID: G2026-104

ID: G2026-124

ID: T2026-193

ID: T2026-194

ID: T2025-257

ID: T2026-152

ID: S2025-211

ID: T2025-261

ID: T2025-283

*All amounts are listed at an exchange rate of USD 1 = JPY 157.31, the approximate exchange rate on September 30, 2026.

Appendix 2. Investment Overview (as of September 30, 2026)

Investments to date

Total investments: JPY 48.1 billion (USD 305 million¹)

Total invested projects: 158 (53 active projects and 105 completed projects)

To learn more about the GHIT Fund’s investments, please visit

Investment Overview: https://www.ghitfund.org/investment/overview/en

Portfolio: https://www.ghitfund.org/investment/portfolio/en

Advancing Portfolio: https://www.ghitfund.org/investment/advancingportfolio/en

Clinical Candidates: https://www.ghitfund.org/investment/clinicalcandidates/en

For more information, contact:

Katy Lenard at +1-202-494-2584 or klenard@burness.com

Eriko Mugitani at +81-36441-2032 or eriko.mugitani@ghitfund.org

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VeriSilicon Introduces GLTiny™ 3D GPU Programming Model for Ultra-Low-Power, Memory-Efficient Wearable Devices

Optimized GLTiny Model Brings Rich 3D Graphics to Resource-Constrained Wearable Devices Powered by OpenGL ES GPUs

SHANGHAI, Oct. 29, 2026 /PRNewswire/ — VeriSilicon (688521.SH) announced GLTiny, an innovative 3D Graphics Processing Unit (GPU) programming model designed for wearable devices with stringent power and memory constraints. Featuring a streamlined Application Programming Interface (API) and an ultra-lightweight driver, GLTiny enables developers to leverage the 3D graphics capabilities of VeriSilicon’s Nano OpenGL ES GPU IP series for next-generation smartwatches, smart glasses, and other resource-constrained wearable devices.

Based on VeriSilicon’s extensive experience in wearable graphics applications, GLTiny incorporates configurable rendering functions that enable developers to easily define their rendering requirements while efficiently utilizing the underlying OpenGL ES GPU capabilities. This streamlined approach dramatically reduces driver memory footprint and CPU overhead, delivering improved power efficiency and optimized performance for resource-constrained wearable devices.

GLTiny provides native rendering support for standard glTF™ 3D models, allowing developers to directly import glTF content and render it through GLTiny APIs. It supports key features such as lighting models, skeletal skinning, and morph targets, as well as full glTF animation support, including flexible playback, switching between animation clips, and playback speed control. GLTiny also supports visual effects such as Gaussian blur and ripple effects, with simplified APIs designed to streamline 3D graphics development. In addition, GLTiny can be combined with VeriSilicon’s VGLite vector graphics driver to form an innovative hybrid driver, enabling coordinated rendering of 2.5D vector graphics and 3D models within the same frame.

“Power consumption and memory footprint are two of the most critical considerations in wearable devices, where delivering rich visual experiences within stringent resource constraints is essential,” said Weijin Dai, Chief Strategy Officer, Executive Vice President and General Manager of the IP Division at VeriSilicon. “Leveraging our extensive experience in wearable graphics and close collaboration with leading wearable SoC and device manufacturers, we developed GLTiny to address these challenges. Building on the success of VeriSilicon’s VGLite 2.5D GPU programming model, which has become a de facto industry standard for lightweight 2.5D graphics, GLTiny represents another important advancement in our graphics technology portfolio. Designed for seamless integration with the established wearable graphics content development ecosystem, GLTiny operates on VeriSilicon’s Nano OpenGL ES GPU IP series, enabling device manufacturers to deliver increasingly sophisticated visual experiences while meeting the stringent power and memory requirements of next-generation wearable devices.”

About VeriSilicon

VeriSilicon Microelectronics (Shanghai) Co., Ltd. (VeriSilicon, 688521.SH) is a leading publicly listed provider of custom silicon solutions, with a comprehensive and proprietary portfolio of semiconductor IPs, and a long-standing focus on AI ASIC custom silicon. For more information, please visit: www.verisilicon.com

Media Contact: press@verisilicon.com  

glTF™ is a trademark of The Khronos Group Inc.

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Casio to Release Lightweight Mechanical Watch with Excellent Readability

TOKYO, Oct. 29, 2026 /PRNewswire/ — Casio Computer Co., Ltd. announced the release of the CMK‑100, a lightweight mechanical timepiece with excellent readability. Combining comfort and practicality, the watch is suitable for a variety of occasions, from everyday use to business settings.

The new CMK‑100, powered by an automatic movement, is designed for practicality in day-to-day life, with a lightweight construction and excellent readability. Developed in response to growing demand for mechanical watches, the watch is a handsome accompaniment to daily living.

The case is made with lightweight titanium, providing a comfortable fit even during extended wear. The case and bezel feature a hairline finish that gives the metal a refined appearance. A matte texture on the dial minimizes reflected light to ensure the time is easy to read. Raised indexes with multiple layers of phosphorescent paint create a strong contrast against the dial, ensuring excellent readability in the dark and in a wide range of other light conditions.

With 10-bar water resistance, the CMK‑100 is well suited for everyday use and outdoor activities alike. It is powered by a Made-in-Japan automatic movement.

Guided by the Casio Purpose — “Through the power to put wonder at hand, bring new levels of joy to lives one by one” — Casio has brought new value to the world in its timepiece business. Looking ahead, the company will continue to go beyond the practical function of timekeeping in watches, offering diverse functions and distinctive designs that deliver new joys of watch-wearing and thrills of discovery.

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Hexaware Reports Q3CY26 Revenue at USD 411.9 Mn, Up 4.3% YoY

 Q3CY26 Adjusted EBIT Margin at 13.8%, Increase of 17 bps QoQ

MUMBAI, India and ISELIN, N.J. and LONDON, Oct. 28, 2026 /PRNewswire/ — Hexaware Technologies (NSE: HEXT), a global provider of IT solutions and services, today announced financial results for the third quarter of calendar year 2026 ended Sep 30, 2026.

Financial Summary and Highlights

Revenue:

• Q3CY26: USD 411.9 Mn | INR 39,331 Mn
  • USD: +1.6% QoQ and +4.3% YoY | INR: +2.3% QoQ and +12.9% YoY
  • Constant Currency: +1.7% QoQ and +4.5% YoY

Profitability:

• Adjusted EBIT ⁽¹⁾:
  • Q3CY26: 13.8% | +17 bps QoQ and (88 bps) YoY in % terms
  • +2.9% QoQ and (1.9%) YoY in absolute terms
• Basic EPS:
  • Q3CY26: INR 7.06 | +30.5% QoQ and 15.9% YoY

Key Client Metrics

• Added one customer in the USD 20Mn+ category (LTM basis), increasing the total to 17 (from 16 in the previous quarter)
• Top 10 customer revenue concentration at 35.4% in Q3CY26 (LTM basis)

Key People Metrics

• Closing Headcount: 35,887, QoQ net addition of 1,381 with 386 net addition in IT
• Voluntary Attrition for IT⁽²⁾: 11.1%
• Q3CY26 Utilization Rate for IT⁽³⁾: 84.9%

Other Key Metrics

• DSO (Billed + Unbilled) at 77 in Q3CY26, of which Billed is 41
• LTM Q3CY26 Operating Cash Flow (OCF) to Reported Profit % at 109.6%
• Cash and Cash Equivalents Position as of Sep 30, 2026, is USD 199 Mn^{(4) (5)}

Leadership Speak

“I am delighted to join Hexaware at an exciting time for the company and our industry. What attracted me to Hexaware is its talented people, deep client relationships, and entrepreneurial culture. With AI creating new possibilities for enterprises across industries, I believe we have a tremendous opportunity to build on these strengths, deepen the impact we create for our clients, and shape the next phase of Hexaware’s growth.”

Vivek Jetley, CEO

“Q3 reflected continued progress across several key financial and operating metrics. Revenue grew sequentially, accompanied by a higher adjusted EBIT margin and strong cash conversion. Our focus now is to carry the momentum from our stronger businesses into broader growth while staying disciplined and investing in the capabilities that build lasting value.”

Vikash Jain, CFO

Financial Performance

Revenue Performance by Vertical

Revenue Performance by Geography

Key Wins

• Selected by a smart home and property technology platform to deliver AI-native customer experiences
• Partnered with a large US infrastructure provider for legacy modernization and an AI use case factory
• Engaged by a leading Australian bank to enable data modernization
• Engaged by a global pharmaceutical player for AI application and agentic development
• Selected by a US biopharmaceutical company to lead its S/4HANA upgrade
• Chosen by a Middle East-based bank to execute its Sitecore migration
• Selected by a global data storage company to build end-to-end factory IT for its new production line
• Chosen by a UK utility company to drive its modernization program

About Hexaware

We are a global digital and technology services company with artificial intelligence (“AI”) at our core. We leverage technology to deliver innovative solutions that help our customers in their digital transformation journey and subsequent operations. We embed AI into every aspect of our solutions and have created a suite of platforms and tools that allow our customers to adapt, innovate, and optimize in this AI-first era. We serve a diverse range of customers, including 30+ Fortune 500 organizations. With a team of 35,887 employees in 30+ countries, our presence is spread across major countries, nationalities, languages, time zones, and regulatory zones. For more information, please visit https://hexaware.com/.

Forward-looking Statements

Certain statements in this press release concerning our future growth prospects, litigations are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on work visa ,immigration, our ability to manage our international operations, the effect of current and any future tariffs, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, technological disruptions and innovations such as Generative AI ,our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies’ products and platforms in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies, the outcome of pending litigation and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company may, from time to time, make additional written and oral forward statements. We do not undertake to update any forward statements that may be made from time to time by us or on our behalf unless required under the law.

Disclaimer

Use of Non-GAAP Financials

Hexaware has included certain non-GAAP financial measures in this Press release to supplement Hexaware’s consolidated financial statements presented on a GAAP basis. These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hexaware’s results as reported under GAAP. The non-GAAP financial information that we provide also may differ from the non-GAAP information provided by other companies. We compensate for the limitations on our use of these non-GAAP financial measures by relying primarily on our GAAP financial statements and using non-GAAP financial measures only supplementally. We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with greater transparency. We further believe that providing this information better enables investors to understand Hexaware’s operating performance and financial condition

Rounding Off

Certain amounts and percentage figures included in this Press Release have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures preceding them

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Chinese and Foreign Translators and Media Figures Discuss New Drivers of Yantai’s Development

YANTAI, China, Oct. 28, 2026 /PRNewswire/ — The event “Where Mountains Meet the Sea, Intelligence Inspires New Voices—Yantai Tour for Chinese and Foreign Translators and Media Figures” was held in Yantai, Shandong Province, from Oct. 11-13, 2026. It was co-organized by the CICG Academy of Translation and Interpretation and the Publicity Department of the CPC Yantai Municipal Committee.

Translators and journalists from China, Germany, Egypt, Pakistan, Morocco and Russia gathered in Yantai for site visits and in-depth fieldwork, sharing their observations and discussing their work. The guests visited the Penglai Pavilion ancient architectural complex, RemeGen Co., Ltd. (Yantai), Yantai Gogetter Intelligence Technology Co., Ltd. and Kongtong Wonderland, China’s first offshore immersive fairyland eco-resort. The visits gave them a firsthand look at Yantai’s historical and cultural heritage, its strengths in biopharmaceuticals and intelligent manufacturing, and the appeal of its maritime cultural tourism. During the event, Chinese and international guests discussed cultural translation, narratives of scientific and technological innovation, and the international communication of cities from the perspective of maritime civilization.

Yantai’s achievements in preserving and developing its cultural heritage, upgrading its industries, and innovating in cultural tourism are attracting more and more people to visit, put down roots and help shape the city’s development.

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Banks are connecting fraud and AML defenses but still missing links

71% of financial institutions are converging detection technology, yet 86% report missed links between fraud and money laundering, finds global survey by Datos Insights and SAS

CARY, N.C., Oct. 28, 2026 /PRNewswire/ — Financial institutions are increasingly integrating their fraud and anti-money laundering (AML) systems, but intelligence and governance gaps remain. New fraud and AML convergence research from Datos Insights, commissioned by data and AI leader SAS, finds 86% report missed links between fraud activity and money laundering.

Fraud and AML Convergence: Closing the Speed Gap – based on a survey of 165 fraud and AML executives across 21 countries in seven global regions – examines the convergence of fraud prevention and AML compliance, commonly called FRAML. The report argues that real-time payments now move funds faster than institutions can connect their fraud and AML intelligence and intervene. Experts from Datos Insights, SAS and Amazon Web Services (AWS) will discuss the study’s findings in a live “Future of FRAML” webinar on Nov. 2 (available later on demand).

“Fraud and AML teams can look at different pieces of the same risk and still miss the connection,” said Serpil Hall, Strategic Advisor for Fraud and AML at Datos Insights. “Technology can help bridge those gaps, but technology alone is not the answer. The institutions making progress are also connecting data, case management, investigations and information sharing so they can see more of the risk in broader context and act sooner.”

Shared infrastructure ≠ shared intelligence

Historically, banks’ fraud and anti-money laundering units were not designed to operate as a unified function. Each answers to different regulations and runs on different legal clocks. Institutions are closing the gap where it’s least disruptive: the technology. Meanwhile, changes that require people and process shifts lag behind. The result is connected systems but disconnected intelligence.

• 71% are actively converging fraud and AML detection and monitoring technology, but only 13% are doing the same for governance, policies and organizational structure.
• 72% run fraud and AML analytics on shared infrastructure but keep separate models and processes; just 1% report sharing data, models, infrastructure and governance across both functions.
• 87% describe their ability to build a unified view of customer risk across fraud and AML as partial, with significant gaps.

Silos remain the biggest barrier to greater alignment between fraud and AML. Nearly 9 in 10 (88%) institutions rate organizational silos, including separate reporting lines, as a primary or major barrier, ahead of technology limitations (73%) and data governance and quality issues (70%).

The strain is felt in day-to-day operations, too: 64% cite legacy technology among their biggest internal challenges, while 63% call out high false-positive rates.

Inside the speed gap: real-time payments, next-day detection

Fraud systems score transactions in milliseconds, while AML monitoring typically runs after the fact, often in overnight batches. As real-time payments become the norm, the margin between the two is fading.

Nearly three-quarters of institutions (73%) say their fraud and AML teams share data often or always during active investigations. That figure drops to just 17% for automated monitoring – the layer that works without someone needing to notice a problem first. The result is often a connection made after an investigation is initiated rather than one flagged automatically before money moves.

Operating separately carries measurable consequences, too, including duplicate alerts or cases, cited by 81% of institutions, and higher operating costs from duplicated teams or technology (71%).

“Financial crime convergence is a risk problem, not just a compliance exercise,” said Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS. “Regulators will increasingly expect institutions to identify and prevent illicit behavior before the money laundering even starts. That’s only possible when fraud and AML are working from the same strategic playbook and sharing data up front.”

FRAML, from concept to market reality

The research findings arrive as fraud and AML convergence evolves from a long-discussed industry concept into a real-world operating model. Urgency is increasing as AI-charged scams, deepfakes, mule networks and real-time payments further blur traditional boundaries between fraud and money laundering.

“Many of the banks I speak with are already sharing data or exploring common case management, with the aim of getting fraud and AML working closer to real time,” added Hall.

For institutions still early in the process, the report outlines practical first steps, such as connecting their existing fraud and financial crime compliance solutions rather than replacing them.

“Institutions don’t have to rip and replace their entire financial crime ecosystem to make progress,” said SAS’ Bradley. “Modernize step by step. Start with the risks that matter most, strengthen data sharing across the monitoring lifecycle and ensure a shared investigative environment.”

To explore how institutions can put the report’s findings into practice, AWS and Datos Insights will join SAS for the live webinar Breaking the Silos: What Global Banks Reveal About the Future of FRAML on Nov. 2 at 10 a.m. EST / 4 p.m. CET, with on-demand viewing to follow.

Experts will discuss how banks are approaching fraud and AML convergence, the barriers slowing progress, and where data, analytics and AI can help institutions connect signals and identify financial crime earlier.

The full report is available at sas.com/framlreport.

About Datos Insights

Datos Insights is the leading research and advisory partner to the banking, insurance, securities, and payments industries, both the financial services firms and the technology providers who serve them.

In an era of rapid change, we empower firms across the financial services ecosystem to make high-stakes decisions with confidence and speed. Our distinctive combination of expert advice, proprietary data, and community provides actionable insights that enable clients to accelerate critical initiatives, inspire decisive action, and de-risk strategic investments to achieve faster, bolder transformation.

About SAS

SAS is a global leader in data and AI, helping organizations make confident decisions with AI they can trust. For decades, SAS has set the standard for delivering software that drives meaningful impact, incorporating deep industry expertise, transparency and governance. SAS gives you THE POWER TO KNOW^®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2026 SAS Institute Inc. All rights reserved.

Danielle Bates | danielle.bates@sas.com | 919-531-1959 | sas.com/news

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American Advanced Materials Raises $12.5 Million to Make Globally-Competitive Titanium Sponge in America and Announces Signed Letters of Intent with Industry Buyers Worth Over $1 Billion

Amity Ventures led the seed round for the advanced materials platform, with participation by Human Capital, Anti Fund, and Powerset

MOUNTAIN VIEW, Calif., Oct. 28, 2026 /PRNewswire/ — American Advanced Materials (AAM) today announced $12.5 million in seed funding led by Amity Ventures, with participation by Human Capital, Anti Fund, and Powerset. The company is developing an AI-native manufacturing platform for the advanced materials that underpin AI, energy, and defense, starting with titanium sponge. AAM will use the funding to grow its team and advance the front-end engineering and design of its manufacturing projects. The company plans to raise project financing to build and operate the integrated commercial facility. AAM’s founding team members have previously designed, built, and operated the world’s largest and most advanced titanium sponge and zirconium plants, both in the United States and abroad. They are joined by veterans of Tesla, ATI, TIMET, and Westinghouse.

Titanium sponge is the metal used by melters and alloy makers to manufacture America’s most important aerospace and defense programs. The United States is home to some of the world’s largest titanium melting operations, yet has produced no sponge since 2020. Meanwhile, titanium sponge imports hit a record 44,000 metric tons in 2025, according to the U.S. Geological Survey. Industry experts project domestic demand to reach 60,000 metric tons over the coming 18 months, leaving America’s industrial base fully exposed to foreign supply chains that are fragile, unreliable, and capacity constrained. AAM is supporting the most strategic interests of America and allies by restoring the critical midstream process manufacturing layer that sits between upstream mineral mining and downstream end-product fabrication.

“America has the feedstock, energy, and expertise to lead in manufacturing these materials again,” said Alex Liegl, co-founder and CEO of AAM. “We aspire to build a next-generation DuPont, with globally competitive quality and cost as the starting point. Our goal is to make advanced materials abundant again so that their supply no longer limits what we can build.”

AAM’s first facility is designed with a vertically-integrated approach around the commercially proven Kroll process, drawing on the team’s direct experience building and operating large-scale titanium sponge plants. It is the first step toward an integrated manufacturing platform for titanium group materials that can add related materials using shared feedstock, infrastructure, and process expertise.

In addition, AAM is developing zirconium oxychloride (ZOC), the key precursor for all zirconium and hafnium materials used in nuclear fuel, gas turbines, rockets, and AI chips. Today, America fully relies on Chinese imports of ZOC. Over time, AAM intends to extend this model to offer America and its allies an advanced materials platform that manufactures the building blocks for all of their most important strategic interests.

AAM has signed offtake letters of intent for its future production of titanium sponge and zirconium oxychloride materials worth over $1 billion. Its prospective customers include domestic melters and alloy makers that supply the aerospace, AI infrastructure, defense, and energy sectors.

“We’re combining decades of process knowledge with modern engineering, AI, and robotics automation,” said Diego Represas, co-founder, President, and Chief Technology Officer of AAM. “America doesn’t need to wait for new technologies to lead the world in production cost, quality, and volume. What it needs is to build quickly. For AAM, the factory is the product. We design the plant, its software, and its operations as one system to carry what we learn into every future facility we build.”

“The opportunity in advanced materials isn’t simply to invent a new process. It’s to rebuild the industrial capacity that America has lost,” said Patrick Yang, Co-Founder and General Partner at Amity Ventures, which manages more than $2 billion in assets. “Alex and Diego have brought together the rare team, technical ambition, and urgency required to do that, starting with titanium sponge. We believe AAM has the potential to become a cornerstone of the next generation of American reindustrialization.”

Liegl and Represas founded AAM in 2025 after years of considering solutions to the same problem: demand for AI, energy, and defense kept climbing, while the supply of the advanced materials required by America and its allies stayed flat or entirely vanished. Liegl previously founded Tenet Energy, a nationwide fintech platform for electric vehicles and home electrification backed by Human Capital, and Layer1, a renewable-energy bitcoin mining company backed by Peter Thiel. Represas, an officer in the U.S. Army Reserve, previously founded Able AI, an AI data platform backed by Human Capital and Canapi Ventures, that was acquired by Moody’s Corp. The two met as freshmen at Stanford University.

About American Advanced Materials

American Advanced Materials (AAM) is an AI-native advanced materials platform that manufactures the building blocks for AI, energy, and defense Our mission is to restore American leadership in the materials that underpin our most important strategic interests. Founded in 2025 and based in Mountain View, California and New York City, New York, AAM brings together America’s top industry experts, industrial engineers, and AI talent to enable globally competitive production in the United States. Titanium sponge is its first commercial project, followed by zirconium oxychloride. Learn more at www.americanadvanced.com.

Media contact

Garrett Marquis | Throughline Global Advisors

garrett@throughline.global

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Equilend’s 1Source DLT Adds Goldman Sachs

Goldman Sachs joins BNY and National Bank of Canada on securities finance distributed ledger technology platform

NEW YORK, Oct. 28, 2026 /PRNewswire/ — Equilend, the global financial technology, data and analytics company for the securities finance industry, today announced that Goldman Sachs is utilizing Equilend 1Source, the distributed ledger technology (DLT) platform that increases efficiency, reduces breaks, and eliminates reconciliations in securities finance.

Goldman Sachs joins BNY and National Bank of Canada on 1Source. The two large securities lenders previously announced that they had begun transmitting live transactions onto the 1Source ledger last October.

1Source is transforming global securities finance workflows by establishing a single, golden source of truth for securities lending and financing transactions. The DLT-based platform was developed by Equilend with input and collaboration from a group of leading market participants to improve costs, automation, and overall efficiency in the market. 1Source directly improves users’ P&L by eliminating accrual errors, reducing third-party comparison fees, and improving settlement rates.

Additional counterparties are also in the process of adopting Equilend’s 1Source, which will benefit all members of the platform as inefficient reconciliation processes and transaction breaks are reduced.

“We are excited to welcome Goldman Sachs, one of the industry’s largest borrowers, onto the 1Source platform,” said Rich Grossi, CEO of Equilend. “Their involvement will drive greater platform benefit by reducing costs and increasing operational efficiency across the community of participants.”

According to third-party estimates, Equilend’s 1Source has the potential to save industry participants hundreds of millions of dollars through greater operational efficiency, optimized costs and resources, and improved profitability.

About Equilend

Equilend is a global financial technology firm offering Trading, Workflow Automation, Data & Insights, and Digital Solutions for the securities finance industry. With offices in North America, EMEA, and Asia-Pacific, Equilend operates across various jurisdictions worldwide, adhering to the highest regulatory standards.

The company is committed to excellence and innovation, with more than $55 trillion in notional transactions on its platform. Equilend is Great Place to Work Certified™ in the U.S., UK, Ireland, and India.

For more information, please visit www.equilend.com

Media Contact:

media@equilend.com 

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Joint Commission Enterprise Appoints Dr. Subashnie Devkaran to Lead International Strategy, Operations

OAKBROOK TERRACE, Ill., Oct. 28, 2026 /PRNewswire/ — Subashnie Devkaran, PhD, MSc, BSc, will join the Joint Commission enterprise as executive vice president and chief international officer on 2 November 2026. In this role, she will lead international strategy and strengthen the enterprise’s presence in key global markets to extend its mission.

James I. Merlino, MD, executive vice president and chief operating officer, Joint Commission: “Subashnie brings an understanding of the safety and quality challenges facing healthcare systems around the world, along with a commitment to meaningful change. Her leadership will help us increase Joint Commission’s reach and impact globally, making a difference in the lives of more patients.”

Dr. Devkaran has more than 25 years healthcare experience across four continents, most recently at Mayo Clinic and Robert D. and Patricia E. Kern Center for the Science of Health Care Delivery. She was also a Joint Commission International consultant for nine years and she was on the Board of Directors of Joint Commission Resources, a role she will step down from.

Jonathan B. Perlin, MD, PhD, president and CEO, Joint Commission: “As healthcare complexity grows around the world, healthcare organizations benefit from a partner to help support their commitment to the highest standards of quality and patient safety. Under Subashnie’s leadership, we will deepen our understanding of international healthcare systems, enabling global organizations to achieve meaningful improvement for patients.”

Dr. Devkaran: “I look forward to assessing opportunities for expansion, strengthening relationships, and ensuring Joint Commission’s international services reflect local healthcare priorities and market dynamics, ultimately helping health systems translate high standards into better outcomes for patients.”

Dr. Devkaran earned degrees from Edinburgh Business School at Heriot-Watt University, Royal College of Surgeons, and University of the Witwatersrand Medical School. Dr. Devkaran is a Fellow of American College of Healthcare Executives (FACHE) and International Society for Quality in Healthcare (ISQua), and Certified Professional in Healthcare Quality (CPHQ).

About Joint Commission International

Joint Commission International (JCI), established in 1994, is a nonprofit affiliate of Joint Commission, dedicated to improving healthcare quality and patient safety worldwide. Through international accreditation and certification, advisory services, publications, and education programs, JCI works with healthcare organizations, public health agencies, and health ministries in more than 80 countries to enable and affirm the highest standards of healthcare quality and patient safety for all.

Learn more at https://www.jointcommission.org/en.

Media Contact

McKenzie Naylor

(480) 205-8189

press@jointcommission.org

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