Bioscience firm moving from California to Fishers
Economic Development Director Megan Baumgarten told the Fishers City Council on June 16 that 1Elevan Bio Pharmaceutical would bring 120 jobs to the city in the next 10 years and was seeking 10-year tax abatements on property taxes to refurbish a vacant industrial building at 12001 Exit Five Parkway.
The council approved the tax break in a 9-0 vote.
CEO Darrin Carrico of 1Elevan said the decision to leave San Diego was, in part, because 'state taxes are much more favorable' in Indiana.
'It's business-friendly overall,' he said. But other factors were just as important, including the skilled workforce with 'incredible talent,' proximity to universities and a FedeEx hub and the life science hub that Fishers has created, Carrico said.
'It's very unusual to have collaborative,' efforts within the same city, he said
Baumgarten said 1Elevan, which makes peptides, will invest $10 million to upgrade the building and expects to hire 35 people by the end of 2027
The city has recruited several medical companies to its 75-acre Fishers Life Science & Innovation Park near 126th Street and east of Interstate 69.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
MedX Holdings, Inc. (OTC: MEDH) Med X Holdings Q2 2025 Investor Update: We're at an Inflection Point
Sales up; on track for ~$1.5M FY25 revenue. Las Vegas lounge approaching approvals. Leaf-trak POS rolling out Q3. Pipeline building in Florida and California. Austin, Texas, Aug. 19, 2025 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE MedX Holdings, Inc. (OTC: MEDH) Med-X Holdings Q2 2025 Investor Update: We're at an Inflection PointSales up; on track for ~$1.5M FY25 revenue. Las Vegas lounge approaching approvals. Leaf-trak POS rolling out Q3. Pipeline building in Florida and California. Austin, Texas — August 19, 2025 — Med-X Holdings, Inc. (OTC: MEDH), parent of Lazydaze +Coffeeshop, today issued its Q2 2025 investor update. The headline is simple: sales increased in Q2 and we remain on pace for approximately $1.5 million in full-year 2025 revenue. The business is tightening execution, our lounge pipeline is maturing, and our technology platform Leaf-trak is moving from build to rollout. Hans Enriquez, CEO of Med-X Holdings: 'We're optimists because we've earned the right to be. Q2 was a step forward, and Q3–Q4 should be better. Las Vegas is closing in on approvals, Houston is next up with a new Lazydaze franchise, Florida and California lounge deals are active, and Leaf-trak is ready to pilot. This industry is shifting—we're at the beginning of the end of cannabis prohibition—and we intend to be on offense- we want to meet and beat our expectations!' Why Med-X, Why Now — Investor Highlights Revenue Momentum: Q2 growth; FY25 tracking to ~$1.5M. Near-Term Openings: Las Vegas consumption lounge advancing toward opening pending final drawings and approvals. Franchise Expansion: Welcoming of Houston—the newest Lazydaze franchisees—targeting a Q4 2025 or early 2026 opening. Active Lounge Pipeline: Florida and California deals in motion. Operating Traction in NM: Our New Mexico store continues to gain ground in a fully recreational market. Tech Platform Going Live: Leaf-trak—our vertically integrated lounge POS + payments stack—piloting in Q3 and commercializing in Q4 via Smart Brand Digital, with expected revenue contribution starting Q4 2025 into Q1 2026. Regulatory Tailwinds: We navigated Texas turbulence (including a veto and special-session noise) and see constructive signals at the federal level. If rescheduling progresses, capital access and institutional participation should improve—exact timing remains uncertain, but the direction of travel is clear. Leaf-trak: Built for Lounges, Not Just Retail What it is: A hospitality-grade platform for consumption lounges that includes: A retail- and restaurant-centric POS configured for lounge workflows (table/service flows, compliance prompts). Integrated payment processing directly in the POS. BioTrack integration for track-and-trace where required. Online ordering and to-go pickup from Lazydaze stores where permitted by law. Why it matters: Lounges run on hospitality economics, not just dispensary checkout. Leaf-trak is designed to increase throughput, reduce compliance risk, and create new revenue moments (service, events, food, and beverage) that most retail-centric POS systems don't handle well. Roadmap: Future-proofed for the next 5–10 years, with planned AI-assisted workflows and (subject to regulations and partner banks) digital currency acceptance with conversion to U.S. dollars. Near-Term Catalysts (What to Watch) Las Vegas — final drawings and approvals → opening sequence. Houston (Lazydaze) franchise build-out → targeted Q4 2025 / early 2026 opening. Florida & California — convert active lounge negotiations to signed agreements. Leaf-trak — Q3 pilots, Q4 commercial release via Smart Brand Digital; begin revenue ramp Q4 2025–Q1 2026. Operating KPIs — continued sales growth and NM traction as a model for rec-market execution. The Reality (and Why We're Confident) Regulation is noisy. We fought through a choppy Texas session and ongoing special-session uncertainty. We're still standing and still growing. Capital has been tight. We built Leaf-trak to create a second engine (software + payments) that compounds alongside new lounges. Industry consolidation is coming. Operators will need hospitality-grade systems, compliant workflows, and brand systems that travel. That's the lane we own with Lazydaze and leaftrak. A Note to Our Long-Time Investors Thank you for your patience and belief. The last stretch wasn't pretty—but we did the hard, unglamorous work. Q2 confirms the direction; the next 12 months are about velocity and conversion. We intend to make this one of our strongest years to date. A Note to New Investors If you believe cannabis is crossing the chasm—from prohibition to regulated mainstream—we're building the platforms (lounges + tech) that capture that shift. Talk to us. We're prioritizing strategic capital and partnerships that accelerate openings, technology deployments, and market entries. About MedX Holdings, Inc. (OTC: MEDH) MedX Holdings is building a portfolio for cannabis retail, hospitality, and technology through its subsidiaries, including Dazed Inc., Smart Brand Digital, and Lazydaze + Coffeeshop. The company is focused on franchise development, cannabis/hemp retail innovation, and regulatory-compliant tech solutions for the industry. Our mission is to deliver exceptional products and unforgettable hospitality experiences through our Lazydaze +Coffeeshop brands and franchises. We are committed to leading the industry by developing and expanding a successful portfolio of licensed and franchised brands. For more information, please visit and Follow us @medxholdings and the CEO @the1onlyhans on X Forward-Looking Statements This release contains forward-looking statements within the meaning of the federal securities laws. Actual results may differ materially due to various risks and uncertainties. Investor & Media Contact Contact Information:Raji Bhakta- President Operations / IRMedX Holdings, Inc.210 438 2750raji@ CONTACT: Contact Information: Raji Bhakta- President Operations / IR MedX Holdings, Inc. 210 438 2750 raji@
Yahoo
21 minutes ago
- Yahoo
Why Palo Alto Networks Stock Is Soaring Today
Key Points Q4 revenue rose 16% to $2.54 billion; adjusted EPS of $0.95 beat the $0.88 consensus. Guidance for its upcoming quarter and the full year also came in above Wall Street's expectations. A major acquisition could help the company continue to consolidate into a one-stop shop for cybersecurity. 10 stocks we like better than Palo Alto Networks › Shares of Palo Alto Networks (NASDAQ: PANW) are spiking on Tuesday, up 4.8% as of 12:12 p.m. ET. The jump comes as the S&P 500 and Nasdaq Composite have lost 0.4% and 1%, respectively. Palo Alto Networks, the dominant cybersecurity company, reported its year-end and fourth-quarter earnings, beating Wall Street's targets and signaling strong growth ahead. Palo Alto Networks' stock jumps on earnings beat and raised outlook The company's Q4 revenue jumped 16% year over year, reaching $2.54 billion. It earned an adjusted $0.95 per share, beating Wall Street's target of $0.88 per share for the quarter. While last quarter's performance was impressive, investors were even more pleased to see the company set guidance above Wall Street's already healthy expectations. Palo Alto is forecasting $2.45 billion to $2.47 billion in sales for its current quarter, above consensus expectations of $2.43 billion. In the same period, it expects to earn $0.88 to $0.90 per share, above the consensus $0.85. CyberArk deal part of building a one-stop cybersecurity platform Analysts across Wall Street maintained or raised their ratings for the stock, excited by what they saw. The company is already the biggest pure-play cybersecurity stock and is looking to solidify this with a $25 billion acquisition of CyberArk Software that will help it become a one-stop shop for cybersecurity. William Blair analyst Jonathan Ho said of the move, "The company's approach makes sense given the desire by customers to consolidate vendors and move away from the large number of solution providers they have grown accustomed to." The approach is somewhat risky in that, traditionally, as Mr. Ho alludes to, cybersecurity customers have been wary of moving to a single platform due to security and pricing concerns. It does, however, present a major opportunity if it pans out, and early signs point to it doing so. Cybersecurity is a critical component of doing business and is likely to become even more so as attacks get more sophisticated and systems become more integrated, exposing them to more risk. Palo Alto is positioned to take advantage of this, and I would recommend the stock despite its hefty valuation. Should you invest $1,000 in Palo Alto Networks right now? Before you buy stock in Palo Alto Networks, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Palo Alto Networks wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $671,466!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,115,633!* Now, it's worth noting Stock Advisor's total average return is 1,076% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 18, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool recommends Palo Alto Networks. The Motley Fool has a disclosure policy. Why Palo Alto Networks Stock Is Soaring Today was originally published by The Motley Fool Sign in to access your portfolio
Business Wire
22 minutes ago
- Business Wire
AM Best Affirms Credit Ratings of Arab Reinsurance Company SAL
LONDON--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of 'bb' (Fair) of Arab Reinsurance Company SAL (Arab Re) (Lebanon). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Arab Re's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management. Arab Re's balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR), which was at the strongest level at year-end 2024. Arab Re's balance sheet strength is supported by its low underwriting leverage and continued growth of its offshore asset portfolio, which has improved the company's liquidity position and risk-adjusted capitalisation. Offsetting rating factors include the very high economic, political and financial system risks in Lebanon, where Arab Re is domiciled and holds just under 40% of its invested assets. Nevertheless, the company has increased its holdings of good quality foreign investments successfully in recent years, which has made its balance sheet more resilient to asset-side stress tests, including the full impairment of Lebanon-based assets. Arab Re has recorded profitable operating results in all of the past five years (2020-2024) and generated a robust return-on-equity ratio of 4.7% in 2024. The company has reported positive annual underwriting results since 2021, which reflect portfolio remediation actions taken by Arab Re's management, including exiting under-performing risks and the revision of underwriting guidelines. Investment income is expected to remain a strong contributor toward overall earnings, resulting from the company's relatively low underwriting leverage and the favourable global interest rate environment. Arab Re has a niche position in its core markets in the Middle East and North Africa region, built upon its original role as a reinsurer for Arab insurance markets and long-standing relationships with cedants. Despite the company's geographic reach, its growth potential is limited, as reinsurance markets in the region remain highly competitive. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
