Seoul stocks dive on South Korea woes as Asian markets struggleIndia’s startup ecosystem closes 2024 on a transformative note, marked by pivotal advancements in AI, deeptech, fintech, and edtech. This year has been defined by resilience, evolution, and significant opportunities. 2024 emerged as the year of startup IPOs, with 12 companies going public and collectively raising billions. Leading the charge was Swiggy’s landmark $1.35 billion IPO, cementing the ecosystem’s global stature. Venture capitalists enjoyed a windfall, earning over $4 billion in IPO returns—double the 2023 figures. Major players like SoftBank, Peak XV, Accel, and Elevation reaped the rewards of patient investments, turning long-term bets into substantial gains. Despite global economic challenges, India’s markets showcased resilience, supported by robust economic growth, regulatory reforms, and sustained investor confidence. With at least 25 IPOs already anticipated for 2025, the momentum shows no signs of slowing down. Big-ticket funding dominated headlines in 2024, with startups raising over $10 billion. Notably, family offices emerged as significant contributors, injecting over $1 billion into the ecosystem. While early-stage funding remained vibrant, growth-stage investments reflected a cautious yet quality-focused approach amidst global uncertainties and shifting interest rates. Challenges persisted, though. Layoffs decreased significantly compared to 2023, yet nearly 9,000 employees faced job cuts. Corporate governance issues continued to trouble notable startups like Byju’s, while others, including Koo and Reshamandi, shuttered operations. CNBC-TV18 spoke to Dr Apoorva Ranjan Sharma, Co-Founder & MD of Venture Catalysts; Mrigank Gut-Gutia, Partner at Redseer; Vaibhav Anant, Founder of Bambrew; and Vivek Pandey, Co-Founder of Ecozen who reflected on the milestones of 2024 and shared their outlook for 2025. Below are the excerpts of the discussion. Q: Tell us what were the key milestones of the year gone by and what will continue to drive momentum and deal activity in 2025? Sharma: The key milestone of 2024 is AI transformation which is happening. The o1 which is the next level of ChatGPT is transforming the things globally. Now the things have moved from LLM to the o1 level where they are able to think and they can also respond and listen to the queries. So basically, next level AI transformation is happening globally. In space tech Tesla has brought back the rocket engine that is also a big milestone. So, the impact of that is also happening in India. You can see a lot of AI transformation happening. Q: 2024 also saw resurgence of major funding rounds, with VC firms injecting over $10 billion into the ecosystem. What was expected to be a chilly winter for venture capital saw funding spring, with Indian startups seeing large ticket deals in winter 2024-2025, setting an optimistic tone. What's fuelling this winter funding spring? Sharma: Two things which are fuelling the winters, which has just gone, I would say. One, the 12 IPOs, which have just happened in this year. In the last three years, Indian stock market, the success of startup is established. And the return also. Remember, there was Paytm IPO, the big chunk of that has gone to the global investors as an exit. From there, it started. So global investors have realised that Indian stock market is responding to startups very, very well. And that is why you can see the Zomato and Swiggy story also now this year. So that is giving the confidence to global investors, that if you invest in India, the exit mechanism is already in place. Number two is the bottom line focus of the large companies, which was not the case three years back. The funding winter has taught us a lot. Almost all the large companies, they are focusing a lot on bottom line, because they're targeting IPO in Indian stock market. That is why the strength of Indian startups is also reflected to the global investors. And that is why you see these startups becoming more attractive to the global investors. Q: Quick commerce has been the buzzword for this year. Could you start by explaining why this segment has taken off the way it has and where the current GMV average spends and the number of users stands? Gut-Gutia: Quick commerce has had a fantabulous year. Looking at the data sets of the total size of the sector, we see that every month the sector is breaking all the records in terms of growth. So most of the months this year, the quick commerce sector in India, when we look at the GMV levels, it is growing at more than 80% on a year on year (YoY) basis. And if you talk about the actual GMVs that we expect, I think by the end of FY25 or let's say by the whole FY25 period, I think we will see the sector exceeding the GMV of close to $6 billion. So, for a sector that was just about less than $1 billion, maybe four or five years ago to reach the $6 billion scale by FY25, I think it's a fantastic achievement. I think one of the biggest factors that is driving the growth of the sector is the monthly transacting users. So just about a few months ago, the sector had about 9 million monthly transacting users. But because of this phenomenal growth in adoption and experience, we expect that the monthly transacting users will be more than 15 million. It's already there in these last few, last couple of months, and the average for the whole year might also be sitting around the 15-17 million mark. Essentially what is happening is that user is just spending across the categories, not just grocery, but across electronics and home goods, some part of fashion, beauty, and so on. So, it's really spending across the segments and the huge convenience that quick commerce has afforded to our customers that is really driving the phenomenal growth in the sector. Watch accompanying video for entire discussion.Expedia Group Names Scott Schenkel as Chief Financial Officerwolfy casino no deposit 。

Degenhart scores 25, Boise State defeats Hampton 83-69 at Cayman Islands ClassicFederal coalition to release nuclear power costings

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LIBERTY LAKE, Wash., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for energy providers and cities to manage energy and water, announced today a collaboration with Xcel Energy to manage the growing number of distributed energy resources (DERs) in Colorado, including residential battery energy storage, to support grid flexibility and customer choice. As part of this collaboration, Xcel Energy has contracted with Itron to deploy an Aggregator Distributed Energy Resource Management System (DERMS) from Itron’s Grid Edge Intelligence portfolio to help manage DERs. On average, 25% of all U.S. homes with solar PV also have battery energy storage. As consumer adoption of battery energy storage continues to grow, energy providers can use Aggregator DERMS to enlist consumer-owned residential battery storage at the edge of the grid as a resource to support the grid. Residential batteries, and other DERs, can help optimize grid operations, promoting greater system reliability, lower energy costs and increased customer choice to adopt solar generation and electric vehicles. Aggregator DERMS enables both aggregated management of DERs for tasks such as load balancing and demand response as well as localized management of DERs for managing solar panels, EV chargers and smart thermostats. Itron’s Aggregator DERMS allows Xcel Energy to use residential battery storage through its Renewable Battery Connect program to manage peak loads and to support reliable electric service to customers. “As we lead the clean energy transition, Xcel Energy continues to make strides to deliver energy to our customers when and where they need it. Using our Virtual Power Plant program - Renewable Battery Connect, we can manage distributed energy resources to help our energy grid meet unprecedented increases in demand from a more electrified economy,” said Emmett Romine, VP Customer Energy & Transportation Solutions at Xcel Energy. “We’re delivering clean, reliable and resilient electricity to customers while keeping bills low, and we’re always looking for opportunities to use new technologies to benefit our customers.” “Xcel Energy is an innovator in adopting and deploying systems that are ready for the increase in DERs. Our solution turns these customer-owned devices into grid assets, which is crucial for an electrified future,” said Don Reeves, senior vice president of Outcomes at Itron. “Itron’s Aggregator DERMS can lay the foundation for autonomous management of DERs, when used with distributed intelligence, to provide real-time visibility into the grid edge. This broader solution uses back-office analytics combined with DI edge computing that operates on a customer’s Itron electric meter directly. DI can connect to, and coordinate with the customer’s DER, such as battery storage, to continuously take advantage of stored energy in near real-time to protect customer and grid assets autonomously, which is an industry first.” “Itron’s Grid Edge Intelligence portfolio currently manages 3 million DER devices for 30 utilities across the U.S. and helps solve the challenges of tomorrow by leveraging the power of grid edge intelligence. I look forward to our continued collaboration with Xcel Energy and supporting a grid that’s ready for the future of DERs.” To learn more about Itron’s Grid Edge Intelligence portfolio, visit the solution page . About Itron Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com . Itron ® and the Itron Logo are trademarks of Itron, Inc in the United States and other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated. For additional information, contact: Itron, Inc. Alison Mallahan Senior Manager, Corporate Communications 509-891-3802 PR@Itron.com Paul Vincent Vice President, Investor Relations 512-560-1172 Investors@itron.com Itron, Inc. LinkedIn: www.linkedin.com/company/itroninc X: www.x.com/itroninc Newsroom: https://itron.com/newsroom Blog: https://itron.com/blogBy MICHELLE L. PRICE WEST PALM BEACH, Fla. (AP) — An online spat between factions of Donald Trump’s supporters over immigration and the tech industry has thrown internal divisions in his political movement into public display, previewing the fissures and contradictory views his coalition could bring to the White House. The rift laid bare the tensions between the newest flank of Trump’s movement — wealthy members of the tech world including billionaire Elon Musk and fellow entrepreneur Vivek Ramaswamy and their call for more highly skilled workers in their industry — and people in Trump’s Make America Great Again base who championed his hardline immigration policies. The debate touched off this week when Laura Loomer , a right-wing provocateur with a history of racist and conspiratorial comments, criticized Trump’s selection of Sriram Krishnan as an adviser on artificial intelligence policy in his coming administration. Krishnan favors the ability to bring more skilled immigrants into the U.S. Loomer declared the stance to be “not America First policy” and said the tech executives who have aligned themselves with Trump were doing so to enrich themselves. Much of the debate played out on the social media network X, which Musk owns. Loomer’s comments sparked a back-and-forth with venture capitalist and former PayPal executive David Sacks , whom Trump has tapped to be the “White House A.I. & Crypto Czar.” Musk and Ramaswamy, whom Trump has tasked with finding ways to cut the federal government , weighed in, defending the tech industry’s need to bring in foreign workers. It bloomed into a larger debate with more figures from the hard-right weighing in about the need to hire U.S. workers, whether values in American culture can produce the best engineers, free speech on the internet, the newfound influence tech figures have in Trump’s world and what his political movement stands for. Trump has not yet weighed in on the rift, and his presidential transition team did not respond to a message seeking comment. Musk, the world’s richest man who has grown remarkably close to the president-elect , was a central figure in the debate, not only for his stature in Trump’s movement but his stance on the tech industry’s hiring of foreign workers. Technology companies say H-1B visas for skilled workers, used by software engineers and others in the tech industry, are critical for hard-to-fill positions. But critics have said they undercut U.S. citizens who could take those jobs. Some on the right have called for the program to be eliminated, not expanded. Born in South Africa, Musk was once on an a H-1B visa himself and defended the industry’s need to bring in foreign workers. “There is a permanent shortage of excellent engineering talent,” he said in a post. “It is the fundamental limiting factor in Silicon Valley.” Related Articles National Politics | Should the U.S. increase immigration levels for highly skilled workers? National Politics | Trump threat to immigrant health care tempered by economic hopes National Politics | In states that ban abortion, social safety net programs often fail families National Politics | Court rules Georgia lawmakers can subpoena Fani Willis for information related to her Trump case National Politics | New 2025 laws hit hot topics from AI in movies to rapid-fire guns Trump’s own positions over the years have reflected the divide in his movement. His tough immigration policies, including his pledge for a mass deportation, were central to his winning presidential campaign. He has focused on immigrants who come into the U.S. illegally but he has also sought curbs on legal immigration , including family-based visas. As a presidential candidate in 2016, Trump called the H-1B visa program “very bad” and “unfair” for U.S. workers. After he became president, Trump in 2017 issued a “Buy American and Hire American” executive order , which directed Cabinet members to suggest changes to ensure H-1B visas were awarded to the highest-paid or most-skilled applicants to protect American workers. Trump’s businesses, however, have hired foreign workers, including waiters and cooks at his Mar-a-Lago club , and his social media company behind his Truth Social app has used the the H-1B program for highly skilled workers. During his 2024 campaign for president, as he made immigration his signature issue, Trump said immigrants in the country illegally are “poisoning the blood of our country” and promised to carry out the largest deportation operation in U.S. history. But in a sharp departure from his usual alarmist message around immigration generally, Trump told a podcast this year that he wants to give automatic green cards to foreign students who graduate from U.S. colleges. “I think you should get automatically, as part of your diploma, a green card to be able to stay in this country,” he told the “All-In” podcast with people from the venture capital and technology world. Those comments came on the cusp of Trump’s budding alliance with tech industry figures, but he did not make the idea a regular part of his campaign message or detail any plans to pursue such changes.

GEORGE TOWN, Cayman Islands (AP) — Tyson Degenhart's 25 points helped Boise State defeat Hampton 83-69 at the Cayman Islands Classic on Sunday. Degenhart had five rebounds for the Broncos (4-1). O'Mar Stanley scored 13 points and added five rebounds. Andrew Meadow shot 2 for 7 (1 for 4 from 3-point range) and 5 of 6 from the free-throw line to finish with 10 points, while adding six rebounds. The Pirates (2-4) were led in scoring by Noah Farrakhan, who finished with 23 points and four steals. Kyrese Mullen added 12 points and six rebounds for Hampton. George Beale also had 12 points. Boise State took the lead with 15:12 remaining in the first half and did not give it up. The score was 41-21 at halftime, with Degenhart racking up 10 points. Degenhart scored 15 points in the second half to help lead the way as Boise State went on to secure a victory, despite being outscored by Hampton in the second half by a six-point margin. NEXT UP These two teams both play Tuesday. Boise State hosts Utah Tech and Hampton hosts N.C. A&T. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .NATO and Ukraine to hold emergency talks after Russian attack with hypersonic missile

Commerce Bank lifted its stake in shares of Schlumberger Limited ( NYSE:SLB – Free Report ) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,605 shares of the oil and gas company’s stock after buying an additional 958 shares during the quarter. Commerce Bank’s holdings in Schlumberger were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission. Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of Schlumberger by 4.1% in the 1st quarter. Acadian Asset Management LLC now owns 8,638 shares of the oil and gas company’s stock worth $471,000 after purchasing an additional 337 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in Schlumberger by 53.3% in the first quarter. CreativeOne Wealth LLC now owns 6,302 shares of the oil and gas company’s stock valued at $345,000 after buying an additional 2,192 shares during the last quarter. LRI Investments LLC acquired a new stake in Schlumberger during the first quarter valued at approximately $99,000. Lazard Asset Management LLC lifted its holdings in Schlumberger by 18.8% during the 1st quarter. Lazard Asset Management LLC now owns 14,753 shares of the oil and gas company’s stock worth $808,000 after buying an additional 2,330 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC grew its position in shares of Schlumberger by 106.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 37,259 shares of the oil and gas company’s stock worth $2,042,000 after acquiring an additional 19,178 shares in the last quarter. Institutional investors own 81.99% of the company’s stock. Analyst Upgrades and Downgrades Several equities research analysts recently issued reports on SLB shares. Wells Fargo & Company dropped their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Stifel Nicolaus restated a “buy” rating and issued a $60.00 price target (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Citigroup decreased their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Finally, BMO Capital Markets lowered their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.97. Schlumberger Trading Up 0.4 % Shares of NYSE:SLB opened at $44.23 on Friday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $62.46 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.56 and a beta of 1.52. The company has a 50 day moving average of $42.78 and a 200-day moving average of $44.55. Schlumberger ( NYSE:SLB – Get Free Report ) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the company posted $0.78 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year. Schlumberger Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%. Insider Activity In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Insiders own 0.26% of the company’s stock. About Schlumberger ( Free Report ) Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products. See Also Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited ( NYSE:SLB – Free Report ). Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter .An online debate over foreign workers in tech shows tensions in Trump’s political coalition

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Credits: WWE Trish Stratus , a member of the WWE Hall of Fame , has never been one to back down from a battle. Her intense feud with Becky Lynch in 2023 demonstrated the tenacity and resolve that made her a sports entertainment legend. At Payback 2023, their fierce rivalry reached a climactic showdown, but one moment from that evening went viral for a very different reason. Fans were in a frenzy as Stratus verbally attacked an audience member prior to the bout, shocking the WWE Universe . Stratus has now disclosed an unexpected twist, she doesn't even recall the incident, despite the fact that the video went viral online and sparked innumerable memes and discussions back then. Trish Stratus Can’t Recall Viral WWE Moment Due to CONCUSSION Speaking on Ring the Belle, Trish Stratus addressed the incident for the first time, offering fans an inside look at what really happened. The candid revelation left many fans stunned. Stratus, known for her poise and professionalism, confessed that the concussion had clouded her memory of the entire interaction. She said, "I didn’t say that—that must have been the Trish Stratus’ heel side coming out. Honestly, I must have had an out-of-body experience. I never swear. On my socials, I’m like, f-asterisks everywhere, and you’re saying it’s her influence because my bestie has such a foul mouth! I remember hearing about the match—like, ‘Oh, that thing you did before the match went viral.’ I was like, ‘What? First of all, I was concussed, so like, what match?’ I really had no memory of it. I was so in the moment, I didn’t even realize it happened. Then I saw it back, and I was like, ‘Guys, did I really do that?’ Little old me?" Trish Stratus and Lita on Historic RAW Main Event, Unfinished Business, and WrestleMania Rumor The clip shows Stratus, visibly angry, delivering an expletive-filled tirade to the fan moments before she steps into the ring. In the meantime, the WWE Universe was polarized: some praised her passion for having caused her angry remarks, while others found the solo Hall of Famer behaving uncharacteristically. Furthermore, the feud between Trish Stratus and Becky Lynch was easily among the most compelling storylines of 2023. Be it ruthless promos or backstage brawls, both women brought the best and worst out of each other, yet provided some moments to be remembered by fans. Their division at Payback 2023 was the end of months of hatred and delivered on all fronts. A high-octane combination of high-risk maneuvers and ruthless physical contact forced the match to be noticed as one of the year's most tabulated bouts. ALSO READ: WWE SmackDown (12/13): Start Time, Venue, How and Where to Watch Live Stream in USA and India As the WWE Universe looks back on her remarkable career, this moment becomes just another piece of the puzzle that makes Trish Stratus an icon.Nova Scotia Progressive Conservative premier names new 21-member cabinet

Aadi Enters into Exclusive License for Three-Asset ADC Portfolio Developed through a Collaboration between WuXi Biologics and HANGZHOU DAC Aadi Enters Agreement to Sell FYARRO ® and Associated Infrastructure to KAKEN Pharmaceutical for $100M ; Announces PIPE Financing of $100M Cumulative Capital Expected to Fund Operations into Late 2028, Including Anticipated Clinical Data for the ADC Portfolio Co-Founder and Former CEO of ProfoundBio, Baiteng Zhao, Appointed to Aadi Board of Directors Aadi to Hold Webcast and Conference Call on December 20 at 8:00 AM EST LOS ANGELES , Dec. 19, 2024 /PRNewswire/ -- Aadi Bioscience, Inc. (NASDAQ: AADI) today announced it has entered into an exclusive license agreement for development and global commercialization of a three-asset portfolio of preclinical, next-wave antibody-drug conjugates (ADCs), in collaboration with WuXi Biologics (2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), and HANGZHOU DAC BIOTECHNOLOGY CO., LTD. ( HANGZHOU DAC), a global leader in ADC innovation. Per the terms of the license agreement, Aadi is granted exclusive rights to certain patents and know-how pertaining to three preclinical ADC programs leveraging HANGZHOU DAC's CPT113 linker payload technology targeting each of Protein Tyrosine Kinase 7 (PTK7), Mucin-16 (MUC16) and Seizure Related 6 Homolog (SEZ6). Aadi will pay aggregate upfront payments of $44 million for in-licensing such ADC programs. Additionally, Aadi is obligated to pay cumulative development milestone payments of up to $265 million , cumulative commercial milestone payments of up to $540 million and single-digit royalties of sales. To support this transaction, Aadi entered into a subscription agreement with certain qualified institutional buyers and accredited investors for a private investment in public equity ("PIPE") financing that is expected to result in gross proceeds of approximately $100 million , before deducting placement agent fees and other offering expenses. The Company is selling an aggregate of 21,592,000 shares of its common stock ("Common Stock") at a price of $2.40 per share, representing a premium of approximately 3.4% to the closing price on December 19, 2024 on Nasdaq, and pre-funded warrants ("Pre-Funded Warrants") to purchase up to an aggregate of 20,076,500 shares of Common Stock at a purchase price of $2.3999 per Pre-Funded Warrant share. The syndicate was led by Ally Bridge Group, with participation from new investors OrbiMed, Invus, Kalehua Capital and other accredited investors, Tae Han co-founder of ProfoundBio, as well as existing investors, including Avoro Capital, KVP Capital and Acuta Capital Partners. The PIPE financing is expected to close in the first half of 2025, subject to stockholder vote and satisfaction of customary closing conditions. "I'm thrilled to announce our partnership with WuXi Biologics and HANGZHOU DAC to bring forward this thoughtfully selected ADC portfolio. We were deliberate in identifying broadly expressed tumor targets where first-generation ADCs have already shown proof of concept. With our next wave ADC portfolio, we aim to build upon these earlier therapies to deliver improved outcomes for people living with cancer," said David Lennon , PhD, President and CEO of Aadi Bioscience. "The financing underscores the confidence our investors have in both the potential of this portfolio and the strength of Aadi's management team." About the ADC Portfolio Each of the three ADC assets utilizes HANGZHOU DAC's CPT113 ADC platform, which consists of a highly stable yet cleavable linker that delivers a Topoisomerase I (TOPO1) inhibitor payload. The CPT113 platform's linker stability and novel payload has the potential to be highly competitive among the next generation ADC platforms. To effectively leverage the CPT113 platform, Aadi selected tumor targets that are upregulated in high-potential cancer indications and where clinical efficacy has been demonstrated by first-generation ADCs. These assets were discovered through the collaborative efforts of WuXi Biologics and HANGZHOU DAC, utilizing the innovative antibody discovery platform provided by WuXi Biologics and advanced linker-payload technology provided by HANGZHOU DAC. "Leveraging our advanced antibody discovery service, we're glad to enable Aadi to accelerate the discovery of precision therapies targeting some of the most challenging cancers," said Dr. Chris Chen , CEO of WuXi Biologics. "This collaboration underscores our wide recognition as an industry leader in discovery service solutions, and further validates our ability to provide integrated discovery technology platforms for global partners to develop next-generation modalities. We look forward to partnering with Aadi and HANGZHOU DAC to expeditiously move these assets forward into clinical development and benefit patients worldwide." " HANGZHOU DAC's CPT-ADC platform is designed to enable next wave ADC capabilities that surpass first-generation technologies, including two programs already in clinical development in China ," said Dr. Robert Y. Zhao , President and CEO of HANGZHOU DAC Biotechnology. "As a global leader in ADC innovation, we are excited to partner with Aadi and WuXi Biologics to deliver this promising portfolio to patients." Aadi to Sell FYARRO for $100 Million , Cumulative Capital Expected to Fund Operations into Late 2028 In a separate agreement, KAKEN Pharmaceutical Co., Ltd., an R&D driven pharmaceutical company in Japan , has entered into a stock purchase agreement under which KAKEN will acquire Aadi Subsidiary, Inc. and all of its assets, including FYARRO ® (sirolimus protein-bound particles for injectable suspension) (albumin-bound) and associated infrastructure, including the majority of Aadi employees who support the FYARRO ® business. FYARRO is approved by the U.S. Food and Drug Administration (FDA) for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor (PEComa), with cumulative revenue of $25.2 million reported over the prior four quarters ended September 30, 2024 . Per the terms of the agreement, Kaken will pay Aadi $100 million in cash at closing, subject to certain adjustments. The transaction is expected to close in the first half of 2025, subject to Aadi stockholder approval and certain closing conditions. Upon the closing of this transaction, KAKEN will also acquire the rights to the Aadi name and trademark. "We are enormously proud of the impact FYARRO has had for people with PEComa, and Kaken's capabilities, coupled with the proven track record of the Aadi team, ensures physicians and patients will continue to have access to this critical treatment," said Lennon. The net proceeds from the PIPE financing and the sale of FYARRO, together with the Company's existing cash, cash equivalents and marketable securities are expected to fund operations into late-2028, including anticipated clinical data readouts for the ADC portfolio. Baiteng Zhao Appointed to the Board of Directors, Brings Significant ADC Expertise Baiteng Zhao, PhD, joins Aadi's board of directors. Zhao co-founded ProfoundBio, a clinical stage next-gen ADC developer, in 2018 and served as the Chairman and CEO of the company until it was acquired by Genmab for $1.8 billion in May 2024 . Prior to ProfoundBio, Dr. Zhao worked at Seagen (now part of Pfizer) for more than eight years and was responsible for the modeling and simulation strategies for the development pipeline and supported preclinical and clinical development of ADC drug candidates. "We are delighted to welcome Baiteng to our Board. His deep expertise and successful track record in ADC development will be instrumental as we tenaciously move this exciting portfolio forward," said Caley Castelein , MD, Chair of the Board of Directors of Aadi Bioscience. "I am thrilled to join the Board at this pivotal moment for Aadi," said Baiteng Zhao, PhD, Board of Directors of Aadi Bioscience and co-founder of ProfoundBio. "PTK7, MUC16 and SEZ6 represent highly promising targets that are commonly overexpressed in cancers with significant unmet therapeutic needs. Coupled with an advanced linker-payload platform that has the potential to enable next-gen ADCs, I believe Aadi is uniquely positioned to make a meaningful impact on patient outcomes. I look forward to collaborating with the leadership team and fellow Board directors to advance these innovative programs and drive transformative progress for patients." Advisors Leerink Partners is serving as financial advisor to Aadi on the sale of FYARRO and the licensing of the ADC portfolio. Jefferies LLC is acting as exclusive placement agent for the PIPE financing. Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal counsel to Aadi. McDermott Will & Emery LLP is serving as legal counsel to Kaken. Cooley LLP is serving as legal counsel to Jefferies LLC. Nomura Securities Co., Ltd. is serving as financial advisor to KAKEN. Conference Call Information The Aadi management team is hosting a conference call and webcast tomorrow, Friday, December 20 th at 8:00 AM EST ( 5:00 AM PST ) to discuss these updates. Participants may access a live webcast of the call and the associated slide presentation on these data through the "Investors & News" page of the Aadi Bioscience website at aadibio.com . To participate via telephone, please register in advance at this link . Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. A replay of the conference call and webcast will be archived on the Company's website for at least 30 days. Additional Information for Stockholders This communication relates to the proposed sale of FYARRO and the proposed PIPE financing and may be deemed to be solicitation material in respect of such transactions. In connection with these proposed transactions, Aadi will file a Proxy Statement with the SEC. This communication is not a substitute for the Proxy Statement or any other documents that Aadi may file with the SEC or send to Aadi stockholders in connection with the proposed transactions. Before making any voting decision, investors and securityholders are urged to read the Proxy Statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transactions as they become available because they will contain important information about the proposed transactions and related matters. Stockholders may obtain a copy of the Proxy Statement and other documents the Company files with the SEC (when they are available) through the website maintained by the SEC at www.sec.gov , as well as on the Investor and News section of Aadi's website at www.aadibio.com . Certain stockholders of Aadi holding approximately 36% of Aadi's outstanding shares, as of the date hereof, including members of its board of directors and related entities, have entered into voting and support agreements in favor of KAKEN Pharmaceutical and Aadi, pursuant to which such stockholders have agreed to vote in favor of the stock purchase transaction with KAKEN Pharmaceutical and the other transactions described above. Participants in the Solicitation Aadi and its respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Aadi in connection with the proposed transactions. Information about Aadi's directors and executive officers is set forth in Aadi's definitive proxy statement filed with the SEC on April 26, 2024 , and in subsequent filings made by Aadi with the SEC. Other information regarding the interests of such individuals, as well as information regarding Aadi's directors and executive officers and other persons who may be deemed participants in the proposed transactions, will be set forth in the Proxy Statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor a solicitation of any vote or approval with respect to the proposed transactions or otherwise, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offer and sale of securities of Aadi described above are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the execution of the subscription agreement, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file, following the closing of the PIPE financing, a registration statement with the SEC registering the resale of the shares of Common Stock and the shares of Common Stock underlying the Pre-Funded Warrants sold in the PIPE financing. About Aadi Bioscience Aadi is a precision oncology company with a vision to make bold choices in applying technology to efficiently deliver improved precision oncology therapies for people living with difficult-to-treat cancers. More information on the Company is available on the Aadi website at www.aadibio.com and connect with us on LinkedIn. Forward-Looking Statements This press release contains certain forward-looking statements regarding the business of Aadi Bioscience that are not a description of historical facts within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the Company's current beliefs and expectations and may include, but are not limited to, statements relating to: the timing and completion of the proposed sale of FYARRO to Kaken Pharmaceuticals and the anticipated timing of the closing of the transaction; expectations regarding the timing, closing and completion of the PIPE financing; Aadi's expected cash position at the closing and cash runway of the company following the sale of FYARRO and PIPE financing; the future operations of Aadi; the development and potential benefits of any of Aadi's product candidates, including the preclinical ADC assets proposed to be licensed from WuXi; anticipated preclinical and clinical development activities and related timelines, including the expected timing for announcement of data and other preclinical and clinical results and potential submission of IND filings for one or more product candidates; and other statements that are not historical fact. Actual results could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with (i) the risk that the conditions to the closing of the proposed sale of FYARRO or the PIPE financing are not satisfied, including the failure to timely obtain stockholder approval for the transactions, if at all; (ii) uncertainties as to the timing of the consummation of the proposed transactions and the ability of each of Kaken and Aadi to consummate the proposed sale of FYARRO; (iii) risks related to Aadi's ability to manage its operating expenses and its expenses associated with the proposed transactions pending the closing; (iv) risks related to the failure or delay in obtaining required approvals from any governmental or quasi-governmental entity necessary to consummate the proposed transactions; (v) unexpected costs, charges or expenses resulting from the transactions; (vii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed sale of FYARRO or the proposed PIPE financing; (vii) the uncertainties associated with Aadi's product candidates, as well as risks associated with the preclinical and clinical development and regulatory approval of product candidates, including potential delays in the completion of preclinical studies and clinical trials; (viii) risks related to the inability of Aadi to obtain sufficient additional capital to continue to advance these product candidates; (ix) uncertainties in obtaining successful preclinical and clinical results for product candidates and unexpected costs that may result therefrom; (x) risks related to the failure to realize any value from product candidates being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; and (xi) risks associated with the possible failure to realize certain anticipated benefits of the proposed sale of FYARRO or the proposed PIPE financing, including with respect to future financial and operating results. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 , including under the caption "Item 1A. Risk Factors," and in Aadi's subsequent Quarterly Reports on Form 10-Q, and elsewhere in Aadi's reports and other documents that Aadi has filed, or will file, with the SEC from time to time and available at www.sec.gov . All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Aadi undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This cautionary statement is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Contact: IR@aadibio.com View original content to download multimedia: https://www.prnewswire.com/news-releases/aadi-bioscience-transforms-with-in-licensing-of-novel-adc-portfolio-100-million-sale-of-fyarro-and-100-million-pipe-financing-302336743.html SOURCE Aadi BioscienceAn online debate over foreign workers in tech shows tensions in Trump’s political coalition

West Ham beat Wolves after edgy Premier League match and heap more pressure on O'NeilCDKL5 Deficiency Disorder Pipeline 2024: Clinical Trials Assessment, FDA Approvals, Therapies, and Key Companies Involved by DelveInsight | Marinus Pharmaceuticals, Takeda, Zogenix, Inc., UCB, Ultragenyx Pharma 12-09-2024 09:29 PM CET | Health & Medicine Press release from: DelveInsight Business Research (Las Vegas, Nevada, United States) As per DelveInsight's assessment, globally, CDKL5 Deficiency Disorder pipeline constitutes 7+ key companies continuously working towards developing 8+ CDKL5 Deficiency Disorder treatment therapies, analysis of Clinical Trials, Therapies, Mechanism of Action, Route of Administration, and Developments analyzes DelveInsight. "CDKL5 Deficiency Disorder Pipeline Insight, 2024" report by DelveInsight outlines comprehensive insights into the present clinical development scenario and growth prospects across the CDKL5 Deficiency Disorder Market. The CDKL5 Deficiency Disorder Pipeline report embraces in-depth commercial and clinical assessment of the pipeline products from the pre-clinical developmental phase to the marketed phase. The report also covers a detailed description of the drug, including the mechanism of action of the drug, clinical studies, NDA approvals (if any), and product development activities comprising the technology, collaborations, mergers acquisition, funding, designations, and other product-related details. Some of the key takeaways from the CDKL5 Deficiency Disorder Pipeline Report: https://www.delveinsight.com/sample-request/cyclin-dependent-kinase-like-5-deficiency-disorder-pipeline-insight?utm_source=openpr&utm_medium=pressrelease&utm_campaign=gpr •Companies across the globe are diligently working toward developing novel CDKL5 Deficiency Disorder treatment therapies with a considerable amount of success over the years. •CDKL5 Deficiency Disorder companies working in the treatment market are Marinus Pharmaceuticals, Takeda, Zogenix, Inc., UCB, Ultragenyx Pharmaceutical Inc, and others, are developing therapies for the CDKL5 Deficiency Disorder treatment •Emerging CDKL5 Deficiency Disorder therapies in the different phases of clinical trials are- ganaxolone, Soticlestat, ZX008 (Fenfluramine Hydrochloride), ZTALMY (ganaxolone), Fenfluramine, UX055, and others are expected to have a significant impact on the CDKL5 Deficiency Disorder market in the coming years. •In July 2024, Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS), a company focused on developing innovative therapies for seizure disorders, has announced that the China National Medical Products Administration (NMPA) has approved ganaxolone oral suspension for treating epileptic seizures in patients aged two years and older with CDKL5 deficiency disorder (CDD). CDKL5 Deficiency Disorder Overview CDKL5 Deficiency Disorder (CDD) is a rare genetic neurological condition caused by mutations in the CDKL5 gene. It primarily affects females and leads to severe developmental and cognitive delays, motor impairments, seizures, and issues with vision and communication. CDD is often diagnosed in early infancy and is associated with lifelong care needs. There is currently no cure, but treatment focuses on managing symptoms and improving quality of life through therapies like anticonvulsants, physical therapy, and speech therapy. Get a Free Sample PDF Report to know more about CDKL5 Deficiency Disorder Pipeline Therapeutic Assessment- https://www.delveinsight.com/report-store/cyclin-dependent-kinase-like-5-deficiency-disorder-pipeline-insight?utm_source=openpr&utm_medium=pressrelease&utm_campaign=gpr Emerging CDKL5 Deficiency Disorder Drugs Under Different Phases of Clinical Development Include: •ganaxolone: Marinus Pharmaceuticals •Soticlestat: Takeda •ZX008 (Fenfluramine Hydrochloride): Zogenix, Inc. •ZTALMY (ganaxolone): Marinus Pharmaceuticals, Inc. •Fenfluramine: UCB •UX055: Ultragenyx Pharmaceutical Inc. CDKL5 Deficiency Disorder Route of Administration CDKL5 Deficiency Disorder pipeline report provides the therapeutic assessment of the pipeline drugs by the Route of Administration. Products have been categorized under various ROAs, such as •Oral •Parenteral •Intravenous •Subcutaneous •Topical CDKL5 Deficiency Disorder Molecule Type CDKL5 Deficiency Disorder Products have been categorized under various Molecule types, such as •Monoclonal Antibody •Peptides •Polymer •Small molecule •Gene therapy CDKL5 Deficiency Disorder Pipeline Therapeutics Assessment •CDKL5 Deficiency Disorder Assessment by Product Type •CDKL5 Deficiency Disorder By Stage and Product Type •CDKL5 Deficiency Disorder Assessment by Route of Administration •CDKL5 Deficiency Disorder By Stage and Route of Administration •CDKL5 Deficiency Disorder Assessment by Molecule Type •CDKL5 Deficiency Disorder by Stage and Molecule Type DelveInsight's CDKL5 Deficiency Disorder Report covers around 5+ products under different phases of clinical development like •Late-stage products (Phase III) •Mid-stage products (Phase II) •Early-stage product (Phase I) •Pre-clinical and Discovery stage candidates •Discontinued & Inactive candidates •Route of Administration Further CDKL5 Deficiency Disorder product details are provided in the report. Download the CDKL5 Deficiency Disorder pipeline report to learn more about the emerging CDKL5 Deficiency Disorder therapies at: https://www.delveinsight.com/sample-request/cyclin-dependent-kinase-like-5-deficiency-disorder-pipeline-insight?utm_source=openpr&utm_medium=pressrelease&utm_campaign=gpr Some of the key companies in the CDKL5 Deficiency Disorder Therapeutics Market include: Key companies developing therapies for CDKL5 Deficiency Disorder are - Amicus Therapeutics, Ovid Therapeutics, UCB, Ultragenyx Pharmaceutical, Regenxbio, Takeda, Zogenix, and Marinus Pharmaceuticals, and many others. CDKL5 Deficiency Disorder Pipeline Analysis: The CDKL5 Deficiency Disorder pipeline report provides insights into •The report provides detailed insights about companies that are developing therapies for the treatment of CDKL5 Deficiency Disorder with aggregate therapies developed by each company for the same. •It accesses the Different therapeutic candidates segmented into early-stage, mid-stage, and late-stage of development for CDKL5 Deficiency Disorder Treatment. •CDKL5 Deficiency Disorder key companies are involved in targeted therapeutics development with respective active and inactive (dormant or discontinued) projects. •CDKL5 Deficiency Disorder Drugs under development based on the stage of development, route of administration, target receptor, monotherapy or combination therapy, a different mechanism of action, and molecular type. •Detailed analysis of collaborations (company-company collaborations and company-academia collaborations), licensing agreement and financing details for future advancement of the CDKL5 Deficiency Disorder market. The report is built using data and information traced from the researcher's proprietary databases, company/university websites, clinical trial registries, conferences, SEC filings, investor presentations, and featured press releases from company/university websites and industry-specific third-party sources, etc. Download Sample PDF Report to know more about CDKL5 Deficiency Disorder drugs and therapies- https://www.delveinsight.com/sample-request/cyclin-dependent-kinase-like-5-deficiency-disorder-pipeline-insight?utm_source=openpr&utm_medium=pressrelease&utm_campaign=gpr CDKL5 Deficiency Disorder Pipeline Market Drivers •Rising Awareness and Diagnosis, Advancements in Genetic Research, Approval of Novel Therapies, Growing Investment in Rare Diseases, Support from Advocacy Groups, are some of the important factors that are fueling the CDKL5 Deficiency Disorder Market. CDKL5 Deficiency Disorder Pipeline Market Barriers •However, High Treatment Costs, Limited Awareness Among Healthcare Providers, Regulatory Challenges, Small Patient Population, Lack of Curative Treatments, and other factors are creating obstacles in the CDKL5 Deficiency Disorder Market growth. Scope of CDKL5 Deficiency Disorder Pipeline Drug Insight •Coverage: Global •Key CDKL5 Deficiency Disorder Companies: Marinus Pharmaceuticals, Takeda, Zogenix, Inc., UCB, Ultragenyx Pharmaceutical Inc, and others •Key CDKL5 Deficiency Disorder Therapies: ganaxolone, Soticlestat, ZX008 (Fenfluramine Hydrochloride), ZTALMY (ganaxolone), Fenfluramine, UX055, and others •CDKL5 Deficiency Disorder Therapeutic Assessment: CDKL5 Deficiency Disorder current marketed and CDKL5 Deficiency Disorder emerging therapies •CDKL5 Deficiency Disorder Market Dynamics: CDKL5 Deficiency Disorder market drivers and CDKL5 Deficiency Disorder market barriers Request for Sample PDF Report for CDKL5 Deficiency Disorder Pipeline Assessment and clinical trials- https://www.delveinsight.com/sample-request/cyclin-dependent-kinase-like-5-deficiency-disorder-pipeline-insight?utm_source=openpr&utm_medium=pressrelease&utm_campaign=gpr Table of Contents 1. CDKL5 Deficiency Disorder Report Introduction 2. CDKL5 Deficiency Disorder Executive Summary 3. CDKL5 Deficiency Disorder Overview 4. CDKL5 Deficiency Disorder- Analytical Perspective In-depth Commercial Assessment 5. CDKL5 Deficiency Disorder Pipeline Therapeutics 6. CDKL5 Deficiency Disorder Late Stage Products (Phase II/III) 7. CDKL5 Deficiency Disorder Mid Stage Products (Phase II) 8. CDKL5 Deficiency Disorder Early Stage Products (Phase I) 9. CDKL5 Deficiency Disorder Preclinical Stage Products 10. CDKL5 Deficiency Disorder Therapeutics Assessment 11. CDKL5 Deficiency Disorder Inactive Products 12. Company-University Collaborations (Licensing/Partnering) Analysis 13. CDKL5 Deficiency Disorder Key Companies 14. CDKL5 Deficiency Disorder Key Products 15. CDKL5 Deficiency Disorder Unmet Needs 16 . CDKL5 Deficiency Disorder Market Drivers and Barriers 17. CDKL5 Deficiency Disorder Future Perspectives and Conclusion 18. CDKL5 Deficiency Disorder Analyst Views 19. Appendix 20. About DelveInsight Related Reports: CDKL5 Deficiency Disorder Market https://www.delveinsight.com/report-store/cyclin-dependent-kinase-like-5-cdkl5-deficiency-disorder-market?utm_source=openpr&utm_medium=pressrelease&utm_campaign=gpr DelveInsight's 'CDKL5 Deficiency Disorder Market Insights, Epidemiology, and Market Forecast-2032' report delivers an in-depth understanding of the 7MM, historical and forecasted epidemiology as well as the 7MM market trends in the United States, EU5 (Germany, France, Italy, Spain, and United Kingdom), CDKL5 Deficiency Disorder Epidemiology https://www.delveinsight.com/report-store/cyclin-dependent-kinase-like-5-cdkl5-deficiency-disorder-epidemiology-forecast?utm_source=openpr&utm_medium=pressrelease&utm_campaign=gpr DelveInsight's 'CDKL5 Deficiency Disorder Epidemiology Forecast to 2032' report delivers an in-depth understanding of the disease, historical and forecasted Cholangiocarcinoma epidemiology in the 7MM, i.e., the United States, EU5 (Germany, Spain, Italy, France, and the United Kingdom), and Japan. Latest Reports: •Medical Sterilization Equipment Market: https://www.delveinsight.com/report-store/medical-sterilization-equipment-market •Tinnitus Market: https://www.delveinsight.com/report-store/tinnitus-medical-devices-market •Vutrisiran Market: https://www.delveinsight.com/report-store/vutrisiran-market •Microscopy Device Market: https://www.delveinsight.com/report-store/microscopy-device-market •Bradycardia Treatment Devices Market: https://www.delveinsight.com/report-store/electrophysiology-devices-market •Percutaneous Arterial Closure Device Market: https://www.delveinsight.com/report-store/vascular-closure-devices-market •Transdermal Drug Delivery Devices: https://www.delveinsight.com/report-store/transdermal-drug-delivery-devices-market •Infusion Pumps Market: https://www.delveinsight.com/report-store/infusion-pumps-market •Acute Radiation Syndrome Market: https://www.delveinsight.com/report-store/acute-radiation-syndrome-pipeline-insight Contact Us: Gaurav Bora gbora@delveinsight.com +14699457679 Healthcare Consulting https://www.delveinsight.com/consulting-services About DelveInsight DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance. It also offers Healthcare Consulting Services, which benefits in market analysis to accelerate business growth and overcome challenges with a practical approach. This release was published on openPR.

A former high school classmate of Luigi Nicholas Mangione, the “strong person of interest” arrested Monday in the brazen Manhattan killing of UnitedHealthcare’s CEO, said he was surprised to learn of his arrest. Freddie Leatherbury hasn’t spoken to Mangione since they graduated in 2016 from Gilman School in Maryland. He said Mangione was a smart, friendly and athletic student who came from a wealthy family, even by the private school’s standards. “Quite honestly, he had everything going for him,” Leatherbury said. Leatherbury said he was stunned when a friend shared the news of their former classmate’s arrest. “He does not seem like the kind of guy to do this based on everything I’d known about him in high school,” Leatherbury said. Mangione, a high school valedictorian from a Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a spokesman told The Associated Press on Monday. He had learned to code in high school and helped start a club at Penn for people interested in gaming and game design, according to a 2018 story in Penn Today, a campus publication. His posts also suggest that he belonged to the fraternity Phi Kappa Psi. They also show him taking part in a 2019 program at Stanford University, and in photos with family and friends in Hawaii, San Diego, Puerto Rico, the New Jersey shore and other destinations. In an email to parents and alumni, Gilman headmaster Henry P.A. Smyth said it “recently” learned that Mangione had been arrested. “We do not have any information other than what is being reported in the news,” Smyth wrote. “This is deeply distressing news on top of an already awful situation. Our hearts go out to everyone affected.” A poster issued by the Federal Bureau of Investigation shows a wanted unknown suspect in the killing of UnitedHealthcare CEO Brian Thompson. (FBI via AP) AP Luigi Mangione is one of 37 grandchildren of Nick Mangione Sr., according to a 2008 obituary. Mangione Sr. grew up poor in Baltimore’s Little Italy and rose after his World War II naval service to become a millionaire real estate developer and philanthropist, according to a 1995 profile by the Baltimore Sun. He and his wife Mary Cuba Mangione, who died in 2023, directed their philanthropy through the Mangione Family Foundation, according to a statement from Loyola University commemorating her death. They donated to a variety of causes, ranging from Catholic organizations to higher education, to the arts. Mangione Sr. was known for Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. The father of 10 children, Nick Mangione Sr. prepared his five sons — including Luigi Mangione’s father, Louis Mangione — to help manage the family business, according to a 2003 Washington Post report. The Mangione family also purchased Hayfields Country Club north of Baltimore in 1986. On Monday afternoon, Baltimore County police officers had blocked off an entrance to the property, which public records link to Luigi Mangione’s parents. A swarm of reporters and photographers gathered outside the entrance. One of Luigi Mangione’s cousins is Republican Maryland state legislator Nino Mangione, a spokesperson for the delegate’s office confirmed Monday. Healthcare SEO shooting Reviewers slam Pa. McDonald’s after worker tip leads to arrest in CEO killing Ghost gun possibly used to kill UnitedHealthcare CEO can be made at home ‘Strong person of interest’ arrested in Pa. in health care CEO’s killing: Here’s what we know