Latest news with #DavidLiu
Business Wire
16-07-2025
- Health
- Business Wire
Cystic Fibrosis Foundation Commits Up to an Additional $24 Million for Prime Medicine to Develop Gene Editing Therapy
BETHESDA, Md.--(BUSINESS WIRE)--Today, the Cystic Fibrosis Foundation announced an additional investment of up to $24 million in Prime Medicine to continue the development of a gene editing therapy for people with cystic fibrosis (CF). Prime Medicine uses a gene editing technology called prime editing — a technology that enables a wide range of modifications to the DNA with a high degree of precision. The company — founded by Drs. David Liu and Andrew Anzalone, who pioneered the development of this unique editing technology — is investigating whether prime editing could treat several diseases, including CF. The CF Foundation's initial investment in Prime Medicine supported work to demonstrate the versatility of prime editing to correct multiple CF-causing mutations in the lab. This additional investment by the CF Foundation will focus on the development of a prime editing therapy targeting the nonsense mutation G542X — one of the most prevalent CF-causing nonsense mutations and one for which there are no available therapies. 'We believe gene editing offers the best hope for a cure for cystic fibrosis because it could permanently correct the mutations that cause this disease,' said Michael P. Boyle, MD, president and chief executive officer of the Cystic Fibrosis Foundation. 'Our investment will help support gene editing research for CF through early development stages, including efforts to overcome the challenges of delivery to the lungs.' As part of its ongoing efforts to develop a prime editing therapy, Prime Medicine is investigating the best way to deliver its gene editing treatment to the lungs of people with CF, a major challenge because of the thick, sticky mucus that clogs the airways and the body's natural immune response to block foreign entities from entering cells. If successful, the gene editing cargo will enter the lung cells that normally make CFTR protein and correct the CFTR mutation in the cell's DNA, resulting in a potentially permanent fix to the CFTR gene. With continued advancement in prime editing and delivery to the lungs, this technology may eventually be used to correct many types of CF mutations. Prime Medicine is advancing multiple approaches in CF, including 'hotspot,' which uses prime editing to make smaller corrections to specific CFTR mutations and PASSIGE, which uses prime editing to make large gene insertions. These combined strategies eliminate the need to develop new prime editing therapies for each individual mutation. Previously, the Foundation committed up to $15 million to Prime Medicine to pursue development of their gene editing technology for CF. About the Cystic Fibrosis Foundation The Cystic Fibrosis Foundation is the world's leader in the search for a cure for cystic fibrosis. The Foundation funds more CF research than any other organization, and nearly every CF drug available today was made possible because of Foundation support. Based in Bethesda, Md., the Foundation also supports and accredits a national care center network that has been recognized by the National Institutes of Health as a model of care for a chronic disease. The CF Foundation is a donor-supported nonprofit organization. For more information, visit
AU Financial Review
07-07-2025
- Business
- AU Financial Review
Media monitoring firm iSentia accused of tax evasion by Thai police
A former iSentia executive was arrested in Thailand on corporate tax evasion charges two months after the major media monitoring provider signed a lucrative contract with the Australian Taxation Office. Thai police arrested the former Asia chief executive of iSentia, David Liu, in June over suspected tax evasion of up to 5.2 million baht ($246,000). He denied wrongdoing, the Bangkok Post reported. iSentia says the proceedings are 'without foundation' and it is confident they will be dismissed.
Entrepreneur
07-07-2025
- Business
- Entrepreneur
Siblings With Self-Funded 8-Figure Brand Share Business Tips
Rae and David Liu leveraged their complementary skill sets to start a business that's been profitable every year since launch. Rae and David Liu, the brother-sister co-founders behind luxury leather accessories brand Leatherology, "had the entrepreneurial bug" from a young age — but they didn't make the leap to business ownership right away. Image Credit: Courtesy of Leatherology. David and Rae Liu. Originally from Dallas, Texas, the siblings' early work experiences took them to New York and elsewhere: Rae launched a career in the fashion industry while David developed expertise in advertising, marketing and sales. In 2001, their father, David Liu, an entrepreneur himself, officially incorporated the vertically integrated ecommerce company DC International. With complementary professional skill sets under their belts, the siblings decided to start a direct-to-consumer brand under DC International's umbrella: Leatherology. "We own our manufacturing in China, and it's really unique because it's ours, wholly owned, and only produces for [our brands]," David says. "So that makes us end-to-end. Leatherology is built on top of that. [Entrepreneurship] runs in our blood, and it's brought us to where we are today." Related: She and Her Sister Started a Side Hustle to Help People Elevate Their Homes — Now Their Brand Pulls In Hundreds of Millions: 'Get to Work' Rae's work in the accessories space sparked her initial vision for the brand. She had a deep understanding of leather products and how the industry worked, but the cost of quality goods remained a barrier for many consumers, including herself. "I found myself in my 20s, working long hours in the fashion industry, and realizing that I could never afford the bags that I was working on," Rae recalls. "Price point and quality were really important to me. I thought that there [had to be] a better way." Image Credit: Courtesy of Leatherology Rae wanted Leatherology to provide high-quality, timeless leather designs at a reasonable price, directly to consumers, and she asked David if he could use his advertising background to help. Of course, David agreed. The duo launched the business in 2008. In the years since, Leatherology has grown into an 8-figure brand, even amid supply chain volatility and economic uncertainty. Entrepreneur sat down with Rae and David to learn more about their successful growth strategies — and what's next for the brand. 1. Self-fund and own the process Leatherology has been self-funded from day one; without outside investment, the founders can always make decisions that are in the business's best interest. "We talk about it [like] we are building the house we want to live in, not the house that we're going to flip and then try to sell for the most amount of money," Rae explains. "It means that we make strategic decisions and invest very heavily in things that you wouldn't if you were looking for an exit." In the founders' view, smart growth is "slow and steady"— and translates to "absolute freedom." "We pride ourselves on maintaining a profitable business," David adds, "one that can weather ups and downs over the years. We've been able to turn a profit every year, and it allows us to really think about the business decisions that are going to be good for our longevity." Related: She Used $10,000 in Savings to Turn Her Side Hustle Into an 8-Figure Brand You've Probably Seen 2. Lean into quality and what sets the product apart From the very beginning, the founders prioritized quality craftsmanship and monogrammed personalization in Leatherology's products. The brand first utilized blind stamping, where initials are pressed into the material, then introduced foil to its designs, expanding to include different colors and font options. "We've been doing hand painting for years," Rae says. "A lot of people in the space do digitally printed personalization. You usually only see the luxury houses still doing hand painting, but we've kind of stuck to our guns — [and to] this idea of craft. So that's what we're still doing. We have artisans who paint each letter, and we're actually about to expand that assortment with more fonts and letter sizes for the first time in a while." The vertical integration model makes that attention to detail and level of personalization possible, the founders say. Leatherology is also about to launch an option for custom artworks, allowing people to upload their own designs — for example, a handwritten note — to feature on the products. Related: How 'V-Commerce' Could Be the Next Big Trend for Startups Image Credit: Courtesy of Leatherology 3. Don't underestimate the value of diversified marketing Leatherology didn't rely on social media for its growth in the early days; instead, the founders laid the foundation for the brand, then diversified its marketing channels. The brand has a "robust" B2B business, working with Fortune 500 companies and small businesses alike to put their logos on products that they gift to clients and employees. " A lot of our consumers who've been with us for years, their first time hearing about Leatherology was actually [when] receiving it as a gift," David says. "That has really yielded [growth from] word of mouth, which is the most important and cheapest form of marketing you can find. So we are leaning into gift-giving. We're doubling down on that as we go into this holiday season, creating more giftable, curated moments." David even recalls one time when he met with a client while at Google and mentioned his family's brand: A woman pulled out her own Leatherology bag, said she'd received it as a gift and had been giving one to everyone — a perfect example of that "snowball effect." Related: This Is Why Word-of-Mouth Referrals Should Be Your Number One Metric of Success Now, as the brand continues to grow, Rae and David are excited to pursue Leatherology's international expansion and double down on its commitment to innovation and customization. " I really want to own the personalization space," Rae says. "I want to become known as the go-to, that we're doing things better than others in a way that is more accessible. We live in a very consumerist society, and I obviously would love for people to buy better and consume better and not buy the cheap stuff, but buy something that's going to last longer from us." Image Credit: Courtesy of Leatherology What's more, the founders say that operating as a family business gives them a distinct advantage, especially as their long-term goals and interests have always aligned. "It's funny, our father says, 'You guys can argue about anything but don't ever fight about money,'" David says, "[and] that's something we just never argue about. We want to build this company, and we have the same drive and motivation to do so. As Rae said, we want to build this house. Ultimately, having that long-term alignment is hard to replicate with someone who isn't your own sister." Want to read more stories like this? Subscribe to Money Makers, our free newsletter packed with creative side hustle ideas and successful strategies. Sign up here.
Yahoo
14-06-2025
- Automotive
- Yahoo
Self-Driving Truck Startup Plus Goes Public In $1.2B SPAC Merger, Backed By Wall Street Titan Michael Klein And Hyundai
Plus Automation last week it would merge with special purpose acquisition company Churchill Capital Corp IX (NASDAQ:CCIX) that values the startup at $1.2 billion and brings $300 million in fresh capital for its push into autonomous trucking by 2027. According to Plus Automation, the merger provides the resources needed to scale its factory-integrated autonomous trucking model. After closing, the combined company will operate as PlusAI and prioritize deployment through its global original equipment manufacturer partnerships. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Plus Automation is led by a founding team of Stanford-trained PhD engineers and seasoned tech entrepreneurs, each with a history of building and scaling innovation-focused companies. CEO David Liu, now on his fourth startup, brings a consistent track record of growth across prior ventures, reinforcing investor confidence in the company's ability to execute, Plus Automation says. Launched in 2016 from Silicon Valley, Plus Automation designed SuperDrive as an AI-based virtual driver for heavy-duty trucks. The company says that its system has already accumulated more than 5 million miles across the U.S., Europe, and Asia, forming a robust real-world dataset that underpins its neural-network engine. In April, SuperDrive hit a crucial driver-out safety milestone, signaling readiness for commercial deployment. According to Plus Automation, public road trials are active in Texas and Sweden, with broader fleet testing slated for fall. Trending: Invest where it hurts — and help millions heal:. Plus Automation's strategy leans heavily on factory integration rather than retrofitting existing trucks. That original equipment manufacturer-first model involves close collaboration with Hyundai, TRATON Group, and Iveco to produce SuperDrive-enabled trucks at scale, Plus Automation says. Churchill Capital Corp IX, led by veteran financier Michael Klein, will provide up to $300 million from its trust account to finance Plus Automation's next growth phase. Plus Automation says that this injection is expected to fully fund the startup through its 2027 commercial launch without requiring additional equity raises. The merger maintains a clean balance sheet for the combined entity and locks up existing Plus Automation shareholders for 180 to 360 days to reinforce long-term commitment. Plus Automation and its and Churchill IX's shareholders will hold one-vote shares to ensure governance European and U.S. trucking markets are valued at nearly $2 trillion, facing persistent shortages of around 300,000 drivers annually, the company says. Plus Automation plans to monetize via a per-mile "driver-as-a-service" model to generate high-margin recurring revenue. Physical AI solutions are gaining traction due to lighter regulations and growing demand for logistical efficiency. Dealer interest is rising as governments across the U.S. consider easing safety rules for heavy autonomous vehicles. California's Department of Motor Vehicles recently proposed testing heavy-duty self-driving trucks on public roads, marking an important regulatory shift. Closing is expected in the fourth quarter, pending shareholder approvals, Plus Automation says. Read Next: Here's what Americans think you need to be considered wealthy. Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Self-Driving Truck Startup Plus Goes Public In $1.2B SPAC Merger, Backed By Wall Street Titan Michael Klein And Hyundai originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
11-06-2025
- Automotive
- Yahoo
Plus Automation to go public via SPAC deal
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Plus Automation plans to go public by merging with special purpose acquisition company Churchill Capital Corp IX at a $1.2 billion pre-money valuation, according to a June 5 press release. Plus anticipates up to $300 million from the transaction, which would fully fund the virtual driver software firm through the commercial launch of factory-built autonomous trucks in 2027. The deal is expected to close in Q4 this year. Following the merger, the combined company will operate as PlusAI. When it comes to startups, Plus holds a unique position — not having any debt, according to the company. Founded in 2016, the company developed an AI-based self-driving system called SuperDrive. It has since established partnerships with OEMs — including Traton Group, Hyundai and IVECO — who will ultimately build the autonomous trucks powered by its virtual driver software, the release states. Once the self-driving trucks are on the road, Plus will operate under a 'driver-as-a-service' model, creating recurring, per-mile revenue for the business. 'Our long-term vision is to empower fleet operators to run global freight networks with autonomous vehicles that improve safety, enhance efficiency, and reduce costs,' David Liu, co-founder and CEO of Plus said in the release. 'We believe the industry is at a critical inflection point, driven by breakthroughs in AI, supportive regulatory momentum, and ecosystem readiness.' Plus is the second autonomous software firm to announce a SPAC deal in recent months. In April, Kodiak Robotics announced its plans to merge with Ares Acquisition Corp. II, anticipating a $551 million cash infusion from the transaction. However, Plus claims to have driven more miles than its self-driving software competitors. Per the release, Plus' autonomous technology has been used for more than 5 million miles of driving, compared to the estimated 2.6 million driven by Kodiak as of Feb. 28. 'After evaluating many opportunities, we knew Plus was the right partner,' said Michael Klein, chairman and CEO of Churchill Capital Corp IX, in the release. 'Broad adoption depends on confidence in vehicle performance and safety and Plus stands out with its advanced virtual driver platform and a customer-centric commercialization model led by OEM partners' Plus is currently conducting public road testing in Texas and Sweden and expects additional customer fleet trials in fall 2025. The company also has operations in its home state of California, as well as Texas and Germany, to support commercialization and development. Recommended Reading Kodiak looks to go public via SPAC deal Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
