Seed round co-led by SOSV and Twynam, together with a dedicated production line from partner Pacific Union, supports the company’s expansion into sensors, devices, and Physical AI as it moves from certified product to production and deployment

REDWOOD CITY, Calif., Nov. 5, 2026 — RadianX, formerly operating as California Perovskite Technology, Inc., today announced $9 million in combined venture and project financing to scale production of its certified perovskite solar modules. The Seed round was co-led by SOSV and Twynam, with participation from One Small Planet, Sahsen Ventures, Avila VC, California Innovation Fund, quantumEDGE, Riceberg Ventures, and Alumni Ventures. Alongside the round, Pacific Union Technology Precision Manufacturing (PUT), a publicly listed precision components manufacturer, is partnering to fund a dedicated production line for RadianX to support commercial-volume production of RadianX modules.

RadianX builds perovskite solar modules for edge energy, in applications such as sensors, wearables, connected devices and Physical AI. Perovskite can continue generating meaningful power in low and indoor light, where conventional silicon becomes less effective. For device makers, that means longer runtime, smaller batteries and, in many applications, eliminating routine battery replacement altogether. RadianX modules are as thin as 0.7mm, available in custom sizes and output voltages, and designed to integrate directly into the surfaces of existing products. The company will focus first on hardware and is already integrating its modules with device makers.

“Most connected devices still depend on a battery that someone has to replace,” said Josh Douglas, Co-founder and Chief Operating Officer of RadianX. “Our job is to turn that light those devices already receive into power, to drive increased uptime and even reduce or eliminate the battery.”

Three problems have slowed perovskite’s move from research into commercial products. The material has historically degraded well before the end of a product’s life, its efficiency has not scaled from small cells into full-size modules, and its lead content has raised safety concerns. RadianX has addressed all three. Its modules are among the world’s first perovskite modules certified by TÜV in all three categories of IEC TS 63163, the IEC specification for photovoltaic modules used in consumer products, including Category 3, the rating for products with high outdoor exposure. The company holds certified efficiency results at cell, panel and full-module scale, including 22.33% on a 1.2-by-0.6-meter module, a world record for that format at the time. The modules have also passed lead-release testing under the EU’s REACH regulation and comply with RoHS.

“Perovskite is a nanomaterial that doesn’t depend on the silicon supply chain. It is carbon-light, needs no rare materials, and can be manufactured from start to finish in a single facility, which means it can be made almost anywhere,” said Vivian Qu, Co-founder and Chief Executive Officer of RadianX. “By building our first automated 6MW production line, we are creating a blueprint we can replicate at larger scale anywhere in the world.”

“RadianX has demonstrated world-leading performance and stability metrics across all important categories, and has validated that performance in customer hands. This positions the technology as a key unlock for perovskite applications across all markets,” said Tiger Yang, CEO of PUT. “PUT is proud to partner with RadianX, bringing our experience in delivering at scale together with their unique technology to scale capacity and meet RadianX’s immediate customer demand.”

Following the initial financing, Gary Chen, former CEO of Sunspark, a 250MW solar producer based in Riverside, California, has joined RadianX as VP of Manufacturing and Product.

RadianX is a participant in the 2026 Amazon Devices Climate Tech Accelerator, run by Plug and Play. RadianX is also working with NGK Corporation, pairing RadianX modules with NGK’s EnerCera batteries in wireless asset trackers.

“Perovskites have been one of the hardest problems in solar, because lab records have rarely held up as stable, manufacturable products,” said Po Bronson, General Partner at SOSV and Managing Director at SOSV SF. “We invested in RadianX because we have conviction in both the technology and the team, which already has certified modules in customers’ hands.”

About RadianX

RadianX turns any surface into energy generation. Its ultra-thin perovskite photovoltaic modules capture light from any source (indoor, outdoor or diffuse) and deliver up to 250 W/m² with minimal added mass. The company is based in Redwood City, California. For more information, visit www.radianx.co.

RadianX is hiring, and open roles are listed at https://radianx.co/pages/about-us

Media and business inquiries: media@radianx.co

SOURCE RadianX

WEST PALM BEACH, Fla., Nov. 5, 2026 — WPBeginner Growth Fund, a leading investment fund specializing in B2B software businesses backed by Awesome Motive, is thrilled to announce its acquisition of Drip, an email & SMS marketing automation platform for small businesses, and Sleeknote, a conversion optimization tool that turns website visitors into subscribers and customers.

Drip gives small businesses, from content creators to online stores, everything they need to grow sales with email and SMS marketing, without the high costs. It comes with all the important features you would expect, including a drag & drop email builder, visual email automation builder, dynamic segmentation, built-in SMS marketing, AI MCP, and more.

Over 6,000 brands use Drip to turn first-time visitors into subscribers, buyers, and repeat customers. To date, Drip customers have earned over $1.5 billion in revenue attributed to their Drip emails. Together, Drip and Sleeknote help businesses reach customers wherever they engage with their brand: on their website, in their email inbox, or through SMS.

Drip works with Shopify, WooCommerce, BigCommerce, Stripe, Magento, and all other custom eCommerce platforms, so store data flows straight into email marketing. Drip MCP allows business owners to connect AI assistants like Claude and ChatGPT directly to their Drip account to analyze results and draft campaigns.

“Email & SMS are the only marketing channels that business owners truly own, and they’re even more important in the AI era,” said Syed Balkhi, Founder of WPBeginner and CEO of Awesome Motive. “Small business owners deserve the same powerful personalization and automation that the biggest brands use, without the enterprise price tag. We are excited to welcome Drip and Sleeknote, so we can offer our small business customers the best email marketing platform for the AI era.”

Over 30 million websites use the WPBeginner family of products like OptinMonster, WPForms, MonsterInsights, AIOSEO, MemberPress, and others to build and grow their online presence. 

“We are excited to have Drip and Sleeknote join the WPBeginner family of brands. Our mission has always been to give small businesses a real chance to compete, and we’re confident that the experience and resources Awesome Motive brings will help Drip and Sleeknote reach even more business owners for many years to come,” said Mogens Møller, co-founder of Sleeknote and CEO of Drip.

Like the rest of WPBeginner family of brands, Drip and Sleeknote will continue to operate as an independent unit under Mogens Møller’s leadership, and customers will see no change in service. Awesome Motive’s in-house email marketing team will work closely with the Drip team on a roadmap that includes more AI-powered features, and tighter connections with popular tools like WPForms and MemberPress.

About WPBeginner Growth Fund

WPBeginner Growth Fund is a leading investment fund focused on B2B software businesses. Created by Syed Balkhi, the fund’s portfolio boasts an impressive list of companies including MemberPress, BuddyBoss, Formidable Forms, FunnelKit, Wholesale Suite, and more. Learn more about WPBeginner Growth Fund at wpbeginner.com.

About Awesome Motive

Awesome Motive is a technology management company behind popular web apps and business tools like OptinMonster, All in One SEO (AIOSEO), WPForms, and many more. Over 30 million websites use Awesome Motive tools to get more traffic, subscribers, and sales. Learn more about Awesome Motive at awesomemotive.com.

About Drip

Launched in 2012, Drip is an email & SMS marketing automation platform built for small businesses, from content creators to online stores. More than 6,000 brands use Drip to send personalized emails and text messages, automate customer journeys, and grow repeat sales. Learn more about Drip at drip.com.

About Sleeknote

Sleeknote is a conversion optimization tool that helps businesses turn website visitors into subscribers and customers with targeted popups, slide-ins, sticky bars, and more. It works with all major email marketing services. Learn more about Sleeknote at sleeknote.com.

Media Contact:
Jeremy Roberts
561-408-1057
426420@email4pr.com 

SOURCE Awesome Motive Inc

Deals leveraged $76.7 million in outside capital in the first quarter of the fiscal year

NEW HAVEN, Conn., Nov. 5, 2026 — Connecticut Innovations (CI), Connecticut’s strategic venture capital arm, today announced it generated a record-breaking $51.4 million in venture proceeds, marking the highest amount generated in a single quarter in CI’s history.

“This was a record-breaking quarter for investment proceeds, driven largely by the initial public offering of CI portfolio company, Veradermics,” said Matt Storeygard, senior managing director of investments. “The impact of a successful exit in our portfolio extends far beyond the initial transaction, creating lasting value for Connecticut and allowing us to put capital back to work supporting the next wave of startups, job creation and economic growth.”

In the quarter ending September 30, 2026, CI invested approximately $15.6 million in 25 companies and venture funds, CI’s investments leveraged an additional $76.7 million in outside capital during the first quarter of its fiscal year. 

“We’re seeing a strong pipeline of companies developing innovative solutions across a range of industries, especially climate, technology, and AI,” said Peter Longo, senior managing director of investments. “Our investments this quarter reflect the exciting opportunities emerging in these sectors and our focus on helping turn promising technologies into successful, growing businesses.”

CI invested approximately $5.7 million in climate tech companies over the quarter, and another $4.5 million in technology companies. The remaining investments were in healthcare, consumer and venture funds.

During the quarter, CI’s talent acquisition team also supported the direct hiring of 89 professionals at portfolio companies, bringing the team’s total to more than 800 placements since the talent program launched in May 2022.

“Every portfolio company we support is competing for talent, and the right hire at the right time can change a company’s trajectory,” said Bo Bradstreet, director of talent acquisition. “We work alongside founders to fill the roles that matter most so they can stay focused on building their businesses in Connecticut.”

About Connecticut Innovations
Connecticut Innovations (CI) is Connecticut’s strategic venture capital arm and is the leading source of financing and ongoing support for innovative, growing companies. By offering equity and debt investments, strategic guidance and introductions to valuable partners, we help promising businesses thrive. For more information, please visit http://www.ctinnovations.com.

Lauren Carmody
Connecticut Innovations
860.258.7829
[email protected] 

SOURCE Connecticut Innovations

Investment Advances Firm’s Sports Continuum Strategy at the Youth Level, Supporting a National Platform That Expands Access to Competitive Junior Golf

TAMPA, Fla., Nov. 5, 2026 — Weatherford Capital (“the Firm” or “Weatherford”), a private investment firm, has invested in the Arnold Palmer Junior Golf Tour (“APJGT” or “the Tour”) alongside Bolt Ventures, the family office of David Blitzer.

Launched by Bolt Ventures in partnership with Arnold Palmer Enterprises and the Arnold & Winnie Palmer Foundation (“Arnold Palmer Organization”), the Tour brings together the Hurricane Junior Golf Tour and the Texas Junior Golf Tour to create a national, year-round competitive platform for boys and girls ages 8 to 18. The Tour aims to host nearly 400 tournaments nationwide in 2027.

“Youth sports is where the Sports Continuum begins, and the experience a young athlete and their family have at this level shapes their relationship with sports for years to come,” said Drew Weatherford, Partner & Co-Founder of Weatherford Capital. “We look for platforms with the potential to meaningfully improve the experience for players and parents, and we want to build them alongside the best investors in sports. This partnership with Bolt Ventures and the Arnold Palmer Organization offers both.”

Junior golf is one of the fastest-growing segments of youth sports, with nearly 4 million on-course junior golfers ages 6 to 17 in 2025, up 48 percent since 2019, according to the National Golf Foundation. As the Tour grows its schedule and footprint, more young golfers will have opportunities to compete closer to home against a consistent standard of play, whether they are pursuing a college roster spot or playing for love of the game.

“We’re pleased to welcome Weatherford Capital as a partner in the Arnold Palmer Junior Golf Tour,” said David Blitzer. “Drew, Todd, and the Weatherford team bring deep experience across youth sports, and they share our long-term commitment to the players and families this tour serves. Together, we look forward to growing the Tour and carrying Mr. Palmer’s legacy forward for the next generation of golfers.”

The Tour carries forward the legacy of Arnold Palmer, who believed golf should be accessible, welcoming, and a vehicle for personal growth. Through a character program developed with the Palmer Foundation and Wake Forest University, the Tour will treat conduct as part of competing well. The Foundation’s new Palmer Foundation Player Access Award will help families address the financial obstacles that can limit participation.

“We’re excited to be partnering with the APJGT team, alongside Bolt Ventures,” said Todd Marcy, Partner at Weatherford Capital. “The Tour has built something special for junior golfers and their families, and we see a real opportunity for impact as it continues to grow.” 

The investment reflects Weatherford’s continued commitment to the Sports Continuum, the Firm’s framework for investing across youth, collegiate, and professional sports. APJGT joins a sports portfolio across the full athletic lifecycle, including IMG Academy, the Big 12 Conference, the United Soccer League, the Tampa Bay Rays, Tampa Bay Rowdies, and Curve Sports. To view Weatherford’s full sports portfolio, see here.

About Weatherford Capital

Weatherford Capital is a private investment firm founded in 2015. The Firm partners with exceptional leaders, bringing capital and experience, trusted relationships, and a long-term perspective to create lasting value. Weatherford sees opportunity in complexity, investing across technology, business and consumer services, sports, and public-sector markets, with a focus on established markets where regulation and governance shape how businesses operate, grow, and evolve. For more information, visit www.weatherfordcapital.com.

Media Contact

[email protected] 

SOURCE Weatherford Capital

New funding supports retail expansion across California, Pennsylvania and New Jersey

LAFAYETTE, Calif., Nov. 5, 2026 — Fathers, the California-based organic clean lager brand, today announced a $2 million funding round six months after launching with distributors. The round includes an investment from chef, entrepreneur and television personality Robert Irvine, who joins as a strategic investor and partner. Irvine brings decades of experience in food, hospitality and consumer brand development to Fathers.

“I’ve spent my career building businesses around products I believe in, and I’m incredibly selective about where I put my name, my time and my money,” said Irvine. “What attracted me to Fathers wasn’t just the beer, which is excellent. It was the people behind it, their commitment to quality and their understanding of what it takes to build a real brand. I’ve seen firsthand how difficult it is to succeed in the consumer space, and I believe this team has what it takes. I’m investing because I see a business with tremendous potential, and I intend to be an active part of helping it grow.”

“Robert has built genuine trust with consumers and translated that trust into successful businesses,” said Joe Cloyes, co-founder of Fathers. “His decision to invest is a tremendous vote of confidence in what we’re building. As our retail footprint grows, this funding will help us support our distributor and retail partners and introduce more people to Fathers. Robert’s experience building consumer brands will be a valuable part of that next phase.”

The capital will support consumer sampling, retail activations, local events and targeted marketing to introduce Fathers to new audiences and build demand.

Retail Expansion and Early Philadelphia Success

In five months, Fathers grew from self-distribution in two California counties to eight distributor partners representing 51 counties across California, New Jersey and Pennsylvania.

Within six weeks of its Philadelphia launch, Fathers added more than 300 retail locations, with strong sell-through and accounts including ACME Albertsons, Costco, ShopRite and Gopuff.

In California, Fathers has added Trader Joe’s and Erewhon to a retail roster that includes Whole Foods, Nugget, Total Wine, BevMo, Costco and Sprouts. The brand now reaches more than 800 retail locations, six months after beginning distribution.

A Proven Team

Fathers was founded by entrepreneurs with experience building and scaling consumer brands. Cloyes co-founded Youth To The People, acquired by L’Oréal after surpassing $50 million in revenue. Conor Begley co-founded Tribe Dynamics, the influencer marketing technology company acquired by CreatorIQ for $70 million.

About Robert Irvine

Best known for Food Network’s Restaurant: Impossible, Irvine is a chef, entrepreneur and television personality with businesses spanning consumer packaged goods, foodservice, hospitality and media. He co-founded FITCRUNCH, the nationally distributed protein snack brand acquired in 2024 by Bain Capital-backed 1440 Foods. His portfolio also includes Robert Irvine Foods.

A British Royal Navy veteran, Irvine founded the Robert Irvine Foundation in 2014 to support service members, veterans, first responders and their families. Fathers and Irvine intend to explore a future cause-marketing collaboration benefiting the Foundation. Specific initiatives would be announced as plans develop.

About Fathers

Fathers is a California-based beer company producing American lagers brewed with organic ingredients and a focus on transparency, quality and taste. Its portfolio includes Fathers Clean American Lager and Fathers Clean American Light Lager, available in glass bottles and on draft. Founded by entrepreneurs with backgrounds in consumer brands, brewing and the military, Fathers is built around a simple belief: Clean Beer Tastes Better. For more information, visit www.fathersbrewing.com.

Media Contact

Conor Begley
Fathers Beer

510-579-4215
426336@email4pr.com

SOURCE Fathers Beer

Funding will accelerate adoption of Delivery-versus-Lock (DvL) standard, with first institutional deployment going live by the end of 2026

DUBAI and NEW YORK, Nov. 5, 2026 — Lombard Systems (previously SemiLiquid/PCP), the creator and maintainer of the Delivery-versus-Lock (DvL) standard, today announced it has raised $4 million across pre-seed and seed funding rounds, led by Ethereal Ventures, with participation from Alps Capital, First Commit Capital, Veris Ventures, Atka and others.

The funding will support institutional adoption of DvL, including the completion of legal opinions in the United States, England, Wales and across five further jurisdictions, adoption by additional Control Locations, expansion of institutional integrations and growth of the Lombard Systems team.

While tokenization has accelerated asset settlement, the infrastructure supporting collateralized financing has largely remained unchanged. Traditional financing arrangements typically require borrowers to transfer collateral to lenders or third-party agents, with bespoke documentation and slow enforcement on default.

Securities are now being tokenized at scale: the Depository Trust Company’s tokenization service began operating in October 2026, the SEC has granted conditional relief for venues trading tokenized U.S. stocks and transfer agents issue natively tokenized shares and funds. Holders cannot yet borrow against them with the legal enforceability institutions require.

Lombard Systems developed DvL, a technical and legal standard that lets institutions use tokenized and digital assets as collateral without transferring them from their existing securities accounts. Under the standard, assets remain locked in their name at a custodian, broker-dealer or transfer agent, while the lender receives a legally enforceable security interest evidenced by a cryptographically signed Credit Receipt. The borrower retains beneficial ownership throughout, with only the amount owed delivered to the lender on a validated default, under pre-agreed enforcement terms.

“Tokenized stocks and funds are scaling now. Origination and enforcement of loans against tokenized collateral have to be as fast as the assets can move, while staying grounded in existing securities law,” said Rico van der Veen, Co-Founder and CEO of Lombard Systems. “DvL keeps assets in their existing securities accounts and gives lenders enforceable rights, with enforcement agreed upfront. That is what turns tokenized assets into usable collateral.”

The investment comes as Lombard Systems advances toward its first institutional deployments, with additional integrations involving banks, broker-dealers and transfer agents planned in the coming months.

“Tokenization is creating real opportunities for financial institutions in trading and settlement, with significant potential to extend those benefits into financing,” said Eeshaan Sachatheva, Co-CIO at Ethereal Ventures. “Lombard Systems is building a critical piece of that infrastructure with DvL, a standardized framework for financing tokenized assets.”

DvL supports Lombard and margin loans, financing against tokenized money market funds and stocks, securities lending by pledge and initial margin for uncleared derivatives under existing ISDA Master Agreements. Institutions can deploy DvL on a white-label basis within their existing systems, directly or through technology partners.

For more information, including the founder’s letter, “Increased Collateral Mobility ≠ Increased Efficiency?” and an overview of the DvL standard, visit lombardsystems.com. Institutions interested in adopting the standard can register at dvlstandard.org, where the full standard is expected to be published in Q1 2027.

About Lombard Systems

Lombard Systems created and maintains the Delivery-versus-Lock (DvL) standard and provides the tools institutions use to adopt it: lending against, and accepting, tokenized and digital assets as collateral without moving them. Lombard Systems is the trading name of Semiliquid Tech Labs Ltd, with offices in Dubai and New York. For more information visit www.lombardsystems.com.

Media Contact
Forefront Communications
[email protected]

All names and logos belong to their respective owners; their use does not imply endorsement or a signed agreement. Statements about deployments, pilots and timelines are forward-looking and may change.

SOURCE Lombard Systems

Evolving leadership responsibilities to enable Flashpoint to leverage its founders’ investment expertise while strengthening oversight and accelerating growth across its investment strategies.

LONDON, Nov. 5, 2026 — Flashpoint Capital, the international technology asset management platform founded in 2012, today announced its latest capital raises across Venture Growth and Growth Debt strategies, alongside leadership appointments to steer its next phase of platform expansion. The update follows the firm’s rebranding in March 2026 from Flashpoint VC to Flashpoint Capital, reflecting its broader institutional focus beyond traditional venture capital.

Final Close of Venture Growth Fund IV (US$116 million)

Flashpoint Capital has completed the final close of its Venture Growth Fund IV at US$116 million, with strong support from returning and new international institutions and family offices.

• Strategy: The fund focuses on B2B Vertical AI applications built by European and Israeli tech talent scaling into the US market.
• Portfolio & Exits: Fund IV has financed 10 companies to date (including SiPhox, Qase, Mermaid, and Inspekt AI), targeting 15 to 20 investments in total. The fund recorded its first exit earlier in 2026 with Kaiko.

Growth Debt Platform Expands to US$127 million

Flashpoint Capital closed a US$25.5 million co-investment sidecar vehicle alongside its Flashpoint Growth Debt Fund II (US$66.1 million, 100% drawn), driving its total debt platform to US$127 million.

• Portfolio: The sidecar is already c. 60% drawn and co-invests alongside Fund II in companies such as One Day, Spotawheel, Subbyx, ANNA Money, Fintech Farm and Numica.
• Outlook: Building on this momentum, Flashpoint Capital is preparing to launch Growth Debt Fund III.

Leadership Evolution & Platform Expansion

As part of Flashpoint Capital’s ongoing institutional development, the firm is updating its executive management structure:

• Denis Mosolov steps into the role of Chief Executive Officer (CEO) of Flashpoint Capital.
• Alexander Konoplyasty, Co-Founder, assumes overall responsibility for all Flashpoint Capital investment activities as Chief Investment Officer (CIO).
• Michael Szalontay, Co-Founder, is stepping down from day-to-day management responsibilities at Flashpoint Capital to focus on scaling and managing the Direct Secondary strategy. The product will continue to operate on Flashpoint Capital’s platform through a JV structure subject to receipt of corporate approvals.

About Flashpoint Capital

Flashpoint Capital is an international technology asset management platform with c. US$600 million AUM. Flashpoint manages investment vehicles across its core strategies, including Venture Growth, Growth Debt and Direct Secondary. The firm is headquartered in London and has offices in New York and Tel Aviv.

Investors in Flashpoint’s funds include several institutional investors, including Azimut and Széchenyi Funds, a Hungarian fund manager, among them, and more than 220 major family offices and HNWIs. The funds have made investments in 90 companies, including names such as Guesty, Chili Piper, and Office RnD. Flashpoint has completed 30 exits, including the sale of its stakes in Shazam (to Apple), Chess.com (to PokerStars founders and General Atlantic), MarketMan (to PSG), GuruShots (to Zedge), Comeet (to Boathouse Capital), and Office RnD (to Blue Star Innovation Partners).

Website: flashpoint.capital

SOURCE Flashpoint Capital

Office of Strategic Capital conditional loan commitment will support the expansion of the company’s U.S. manufacturing capacity and accelerate deployment of its proven, multi-mission radar systems

MENLO PARK, Calif., Nov. 5, 2026 — LeoLabs, Inc. (LeoLabs), the leading provider of persistent Orbital Intelligence, today announced it has secured up to a $150 million conditional loan commitment from the U.S. Department of War’s Office of Strategic Capital (OSC) to significantly expand its U.S. radar manufacturing capacity, strengthen its domestic supply chain, and rapidly field additional sensing infrastructure in support of U.S. national security priorities.

As the threat environment grows more complex, national security increasingly depends on resilient, globally distributed sensing architectures that can close critical coverage gaps and adapt across a broad range of missions.

LeoLabs has developed a portfolio of proven, multi-mission radars to meet this need. This includes its fixed-site Seeker and Ranger radars, as well as its transportable Scout-S radar, optimized for space domain awareness, and Scout-X radar, optimized for missile warning and tracking. Together, these systems provide the coverage, resilience, and operational flexibility to enhance battlespace awareness for space superiority and missile defense.

The OSC financing will accelerate LeoLabs’ expansion of its U.S. manufacturing capacity, which includes the completion of two large-scale manufacturing facilities by 2028. This increased capacity will enable the company to produce and field its radars at speed and scale, including adding dozens of systems to its global network by 2030. It will also expand the company’s ability to deliver sovereign radars for U.S. and Allied government customers.

“The U.S. Department of War has challenged industry to move with greater urgency — not only to meet today’s mission needs, but to also anticipate and stay ahead of evolving threats,” said Tony Frazier, Chief Executive Officer of LeoLabs. “This financing, coupled with private investment, enables us to answer that call by delivering our proven sensing capabilities faster and at greater scale to help strengthen U.S. national security.”

The OSC commitment reflects the growing role of commercially developed sensing capabilities in defense architectures. For LeoLabs, it continues a decade-long strategy of building and deploying next-generation, multi-mission radars that meet current and future U.S. and Allied national security requirements.

SOURCE LeoLabs, Inc.

Anaheim spun out of Alesta Therapeutics prior to its recent acquisition by BioMarin

Financing provided by Droia Ventures, Frazier Life Sciences, RTW, Novartis Venture Fund, RV Invest and Thuja Capital

Runway into 2028 with clinic entry in 2027 for ANA-1 

LEIDEN, Netherlands, Nov. 5, 2026 — Anaheim Bio, a preclinical-stage biotechnology company spun out of Alesta Therapeutics, launched today with an oversubscribed €40 million Series A financing to advance ANA-1, a small molecule therapeutic candidate for calcium pyrophosphate deposition disease (CPPD), expected to enter the clinic in 2027.

“ANA-1 is designed to directly address the underlying pathology of CPPD and has the potential to change treatment for the millions of people worldwide who today have no therapy that targets the crystal deposits driving the disease,” said Ilan Ganot, Chief Executive Officer of Anaheim Bio. “This financing takes ANA-1 through IND-enabling studies and into Phase 1. We are pleased that Alesta’s legacy investors are backing us again, a reflection of their confidence in this program and our team.”

Anaheim Bio’s lead program, ANA-1, is a small molecule inhibitor designed to lower extracellular PPi for the treatment of CPPD. CPPD is a form of inflammatory arthritis caused by the accumulation of calcium pyrophosphate crystals in and around the joints. It most commonly affects older adults and can cause sudden, recurrent episodes of severe joint pain and swelling, as well as chronic arthritis. CPPD is estimated to affect approximately 4% to 7% of adults in Europe and the United States. Current treatments focus on controlling inflammation and symptoms, with no approved therapy available to remove or dissolve the underlying crystal deposits.

“We look forward to work once again with the former Alesta team,” said Luc Dochez, Chair of the Board of Anaheim Bio and Managing Partner at Droia Ventures. “ANA-1 positions them to go after one of the largest underserved opportunities in rheumatology.”

Anaheim Bio’s management team includes Ilan Ganot, Chief Executive Officer; Matthias Van Woensel, Ph.D., Chief Scientific Officer; Rick Dekker, Chief Financial Officer; and Benit Maru, MBChB, Ph.D., Interim Chief Medical Officer.

The Board of Directors includes Luc Dochez (Chair), Droia Ventures; Dan Estes, Ph.D., Frazier Life Sciences; Ilan Ganot, Anaheim Bio; Janwillem Naesens, Droia Ventures, Laura Brass, Ph.D., Novartis Venture Fund and John McHutchison, AO, M.D., who joins as an independent director having previously served as a strategic advisor to Alesta.

About Anaheim Bio

Anaheim Bio is a preclinical-stage biotechnology company. Its lead program, a small molecule therapy, is in development for calcium pyrophosphate deposition disease (CPPD). The company was formed in 2026 from programs spun out of Alesta Therapeutics and is backed by Alesta’s former investors, including Droia Ventures, Frazier Life Sciences, RTW Investments, Novartis Venture Fund, RV Invest and Thuja Capital. Anaheim Bio is based in Leiden, the Netherlands. For more information, visit www.anaheimbio.com.