Latest news with #DavidZhang
Entrepreneur
21-05-2025
- Business
- Entrepreneur
Biostate AI Raises USD 12 Mn Series A Led by Accel
The company plans to deepen its dataset, expand collaborations in oncology, autoimmune, and cardiovascular research, and improve its predictive models for early disease detection and treatment response. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Biostate AI has raised USD 12 million in a Series A funding round led by Accel, with participation from Gaingels, Mana Ventures, InfoEdge Ventures, and returning investors Matter Venture Partners, Vision Plus Capital, and Catapult Ventures. Angel investors such as Dario Amodei (CEO, Anthropic), Emily Leproust (CEO, Twist Bioscience), and Mike Schnall-Levin (CTO, 10x Genomics) also backed the company. The funds will be deployed to scale Biostate's AI-powered RNA sequencing (RNAseq) platform and to accelerate its vision of affordable, integrated precision medicine. The company plans to deepen its dataset, expand collaborations in oncology, autoimmune, and cardiovascular research, and improve its predictive models for early disease detection and treatment response. Founded by serial entrepreneurs and former professors David Zhang (Rice University) and Ashwin Gopinath (MIT), Biostate AI was launched to tackle the limitations of conventional RNAseq and bring generative AI to molecular medicine. The company is pioneering a Netflix-style self-sustaining model—using its low-cost, high-throughput RNAseq platform to feed an ever-expanding AI dataset that can decode human disease. "Just as ChatGPT transformed language understanding by learning from trillions of words, we're learning the molecular language of human disease from billions of RNA expressions from millions of samples," said Ashwin Gopinath, Co-founder and CTO. Biostate AI's core technologies include patented methods like BIRT and PERD, enabling high-quality RNAseq from both fresh and archival tissues at a fraction of the traditional cost. The company's unified workflow standardises sample processing, reducing batch effects and making its datasets uniquely suited for AI training. Its proprietary tools, including the manuscript generator Quantaquill, simplify the path from sample to publishable insights. CEO David Zhang explained, "Rather than solve diagnostics and therapeutics as siloed problems, we believe modern AI can understand and help cure every disease. Biostate takes the biggest leap yet by making the whole transcriptome affordable." With over 10,000 samples processed across 150+ partners and agreements to handle hundreds of thousands more annually, Biostate AI is rapidly building the world's largest RNAseq dataset. Accel's Shekhar Kirani summed it up: "Biostate is decoding the molecular signals that govern human health. They are laying the groundwork for a new era of diagnostics and therapeutics."
Forbes
20-05-2025
- Health
- Forbes
How AI Could Put Personalised Medicines In Reach At Last
AI specialists need data from more samples to build robust models Artificial intelligence (AI) technologies hold huge promise for the biotechnology industry, which hopes analysis of massive datasets could unlock incredible breakthroughs in disease treatment. However, in order to fullfil such potential, biotech businesses will need to build databases and models large enough to generate meaningful insight; that is expensive and time-consuming. Houston-based start-up Biostate AI is one company that thinks it can help solve this problem. It has developed a low-cost way to sequence RNA, the molecule found in all living cells that translates the genetic information contained in DNA into proteins that do the work of those cells. Academics, biotechs, pharmaceutical companies and researchers can all use Biostate to cut the cost of analysing the RNA in the human blood and tissue samples they take and hold. But in return, Biostate gets to retain this data – and add it to the models it is building. Ultimately, the company's ambition is to build a computational model that captures the behaviours of every molecule inside a living cell and to predict how each of these molecules will change with health, disease or exposure to drugs. That would unlock major leaps forward in drug development, enabling the design of medicines personalised to each patient. 'We want to build an AI that really understands humans,' explains Ashwin Gopinath, who founded Biostate last year with David Zhang. 'That's how we'll understand exactly what the best treatment is to give an individual patient for a specific disease at any given time.' The reality of many diseases – including cancers and auto-immune conditions, Biostate's areas of focus – is that while we may give them a single name, there are multiple variations; lung cancer, says, comes in many different forms. In addition, people respond to drugs differently – and they may even respond to the same drug differently at different times, depending on what else is going in their bodies. Developing treatment plans that take account of all these variables to provide personalised medicines could make a dramatic difference to the outcome for each patient. But that requires researchers to build data models that cover every possible eventuality. That's ultimately what Biostate hopes to achieve. 'It's an endless frontier,' adds Zhang. 'The more data you have, the better your outcomes are going to be.' One early collaboration is particularly dear to the heart of Gopinath, whose interest in personalised medicine grew following his wife's diagnosis with leukemia. Biostate has agreed a partnership with Weill Cornell Medicine focused on this condition, with the firm leveraging its repository of bone marrow and blood samples. 'This agreement reflects Cornell's commitment to fostering industry partnerships that translate academic research into real-world impact,' explained Lisa Placanica, senior managing director of Cornell University's Center for Technology Licensing, when the collaboration was announced. Biostate now hopes to make further progress in the coming months courtesy of a $12 million fundraising that the company is announcing today. The Series A round is led by Accel, with participation from Gaingels, Mana Ventures, InfoEdge Ventures and existing investors Matter Venture Partners, Vision Plus Capital and Catapult Ventures. The round takes the total amount of funding raised by the company to just over $20 million. It's a fascinating field where AI technologies are evolving at speed. Last year, for example, saw the Sanger Institute launch the Generative and Synthetic Genomics research programme, with the aim of building foundational datasets and models to engineer biology. 'Our goal is to produce data at scale in a fast and cost-effective way, which can then be used to train predictive and generative models," said Ben Lehrer, head of generative and synthetic genomics at the Wellcome Sanger Institute, in a recent blog about the launch. 'By producing large-scale genetic sequences and predicting the impact of genetic changes, gen AI tools can help accelerate our understanding of genome biology.' Elsewhere, Exact Sciences acquired Genomic Health for $2.8 billion five years ago to build a presence in this market, while firms such as Tempus, Foundation Medicine, Veracyte and NanoString Technologies are all exploring aspects of the field. It's a potentially huge and lucrative market. The McKinsey Global Institute has estimated that the technology could generate $60 billion to $110 billion a year in economic value for the pharma and medical-product industries. "Just as OpenAI used massive datasets to decode language, Biostate is decoding the molecular signals that govern human health," says Shekhar Kirani, a partner at Accel, of its investment in the company. Kirani believes AI heralds 'a new era of diagnostics and therapeutics'.
BusinessToday
08-05-2025
- Business
- BusinessToday
Grab Looks To A Strike Deal To Take Over GoTo In Q2
United States-listed ride-hailing and food delivery company Grab is looking to strike a deal to take over smaller Indonesian rival GoTo in the second quarter, two sources with knowledge of the matter said. Singapore-headquartered Grab has hired advisers to work on the proposed deal, the two sources added. The deal is subject to terms such as financing, which Grab is in discussion with banks, one of the sources declined to comment. In a stock exchange filing on Thursday (May 8), GoTo said it has not made any decision regarding any proposals it may have become aware of or received.A deal could value GoTo at around US$7 billion, according to a separate source with knowledge of the matter. Jakarta-listed GoTo's shares have climbed 20 per cent year-to-date, giving it a market value of around US$5.8 billion, LSEG data showed. Grab's shares on Nasdaq are up 2.4 per cent so far this year, giving it a market value of nearly US$20 billion, according to LSEG data. GoTo will be selling off its international unit, two separate sources familiar with the matter said. In Indonesia, GoTo will sell its entire operations except its finance arm to Grab, one of the two sources added. Deal terms are not finalised and could change as the two companies are still in negotiations, the sources cautioned. Grab, backed by Uber, offers delivery, mobility and financial services, among others, according to its website. GoTo, whose investors include SoftBank and Taobao China Holding, described itself as Indonesia's largest digital ecosystem that provides e-commerce and banking services, its website merger talks between Grab and GoTo have been on-and-off for years but have not resulted in a deal, primarily due to competition concerns over a tie-up between two major players in Southeast Asia. A merger between the two would create a giant in the ride-hailing industry in the region, dominating around 85 per cent of the US$8 billion market, according to data analytics company Euromonitor International. 'The combined entity would hold a market share of over 91 per cent in Indonesia, and almost 90 per cent in Singapore,' said David Zhang, Euromonitor International's insights manager of payments and lending in Asia. 'Markets, especially in Indonesia and Singapore, will impose strict scrutiny,' he said, adding that the deal will likely be blocked by regulators in key markets in Southeast Asia. Indonesian stockbroker BRI Danareksa Sekuritas' analyst Niko Margaronis, who covers GoTo, said that the Indonesian authorities may adopt a more pragmatic approach when assessing a potential merger, weighing the benefits of strengthening existing players and fostering long-term economic value. Antitrust scrutiny has intensified significantly against the backdrop of rising cost of living driven by an uncertain global economic outlook, made worse by US President Donald Trump's tariffs. In March, Uber terminated its US$950 million bid for Delivery Hero's Foodpanda business in Taiwan after Taiwan blocked the proposed deal on anti-competitive concerns and worries that it could incentivise Uber to raise prices. Reuters Related
Business Times
07-05-2025
- Business
- Business Times
Grab looks to strike a deal to acquire Indonesia's GoTo in Q2: sources
[SINGAPORE,HONG KONG] US-listed ride-hailing and food delivery firm Grab is looking to strike a deal to take over smaller Indonesian rival GoTo in the second quarter, two sources with knowledge of the matter said. Singapore-headquartered Grab has hired advisors to work on the proposed deal, the two sources added. The deal is subject to terms such as financing, which Grab is in discussion with banks, one of the sources added. Both Grab and GoTo declined to comment. Grab is looking to buy GoTo's businesses at around US$7 billion, according to a separate source with knowledge of the matter. Jakarta-listed GoTo's shares have climbed 20 per cent year-to-date, giving it a market value of around US$5.8 billion, LSEG data showed. Grab's shares on Nasdaq were up 2.4 per cent so far this year, giving it a market value of nearly US$20 billion, according to LSEG data. GoTo will be selling off its international unit in Singapore to Grab, two separate sources familiar with the matter said. In Indonesia, GoTo will sell its entire operations except its finance arm to Grab, one of the two sources added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Grab, backed by Uber, offers services consisting of deliveries, mobility and financial services, among others, according to its website. GoTo, whose investors include SoftBank and Taobao China Holding, described itself as Indonesia's largest digital ecosystem that provides e-commerce services and banking services, its website showed. A merger between Grab and GoTo would create a giant in the ride-hailing industry in South-east Asia dominating around 85 per cent of the US$8 billion market, according to data analytics company, Euromonitor International. 'The combined entity would hold a market share of over 91 per cent in Indonesia, and almost 90 per cent in Singapore,' said David Zhang, Euromonitor International's insights manager of payments and lending in Asia. 'Markets especially in Indonesia and Singapore will impose strict scrutiny,' he said, adding that the merger will likely be blocked by regulators in key markets in South-east Asia. Indonesian stockbroker BRI Danareksa Sekuritas' analyst Niko Margaronis, who covers GoTo, said that the Indonesian authorities may adopt a more pragmatic approach when assessing a potential merger, weighing the benefits of strengthening existing players and fostering long-term economic value. Antitrust scrutiny has intensified significantly against the backdrop of rising cost of living driven by uncertain global macroeconomic environment made worse by US President Donald Trump's tariffs. In March, Uber terminated its US$950 million bid for Delivery Hero's Foodpanda business in Taiwan after Taiwan blocked the proposed deal on anti-competitive concerns and worries over it could incentivize Uber to raise prices. REUTERS
Yahoo
01-05-2025
- Business
- Yahoo
AUO Corp (AUOTY) Q1 2025 Earnings Call Highlights: Strong Sales Growth Amid Tariff Challenges
Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AUO Corp (AUOTY) reported a 5% quarter-over-quarter increase in net sales, reaching 72.1 billion. The company's gross margin improved to 12.2% due to revenue growth, product mix optimization, and cost improvements. AUO Corp (AUOTY) achieved a net profit of 3.3 billion, with an EPS of 0.43 NT dollars. The company has a healthy financial structure with a cash and cash equivalents balance of 67.4 billion. AUO Corp (AUOTY) is expanding its global manufacturing footprint, which includes sites in Mexico, India, Bulgaria, and Germany, allowing for dynamic capacity adjustments. The display segment is anticipated to experience a slight decline in revenue quarter-over-quarter due to a higher base period and tariff-related uncertainties. Tariff-related uncertainties are causing concerns about the impact on global consumption and economic growth. The mobility solution segment is expected to see a revenue decline by low single-digit percentage points quarter-over-quarter due to a higher base period. There are ongoing uncertainties regarding tariffs, which could affect AUO Corp (AUOTY)'s business outlook and require dynamic adjustments. The company is cautious about the potential impact of tariffs on US consumer behavior, which could ultimately affect global economic growth. Warning! GuruFocus has detected 5 Warning Signs with AUOTY. Q: Considering the current economic conditions, could you please provide an update on the depreciation and CapEx for 2025? Also, any guidance on the future trends of depreciation and your CapEx? A: David Zhang, CFO: Currently, regarding our depreciation, we maintain our original forecast of 30 billion for 2025, and CapEx is anticipated to be no more than 30 billion for this year. Given the uncertainties revolving around tariffs, which cause some uncertainties on the macro conditions in the market, we will continue to observe the market conditions and dynamically adjust our CapEx as needed. Moreover, under a transformation strategy, we will continue to advance our developments in the mobility solution and vertical solution segments. As we lean toward asset-light from heavy capital investment, our CapEx and depreciation should go down sequentially. Q: Could you please provide color on the global TV and IT sell-through and overall channel inventory for the first quarter? Secondly, in the display sector, what are the impacts of tariffs on clients and the industry, and how are they addressing the impact? A: James Chen, Senior VP of Display Strategy Business Group: Q1 is the traditional low season for TV and IT. However, benefiting from the trading program in China and earlier pull-in ahead of tariffs, TV and IT segments enjoyed robust performance YOY. In terms of TV, Q1 TV demand grew by 2 to 3% YOY, mainly because in China, TV set sell-through lowered by only 2%, and area shipment expanded by 5% because of size migration. Regarding tariffs, TV customers shipping to the US primarily deliver from Mexico to meet the requirements of the USMCA, resulting in zero tariffs. For monitors and notebooks, most companies still manufacture in China, but 20% have shifted production to Southeast Asia and Mexico. Since these products are included in the exemption list, there are no tariff impacts at the moment. Q: After the delay of the reciprocal tariffs on April 2nd, are you seeing any net pull-ins continue for the second quarter? How might this impact your outlook into the second half? A: Unidentified Executive: We have seen some pull-ins continue from Q4 2024 into Q1 2025 to ease the impact from tariffs, resulting in better-than-expected revenue in Q1. Customers are adjusting their inventory levels due to tariff impacts, but the policy changes frequently. We are cautiously monitoring these changes and dynamically adjusting our materials preparation and production plans. The uncertain tariff impacts may alter seasonality this year, making it difficult to predict the second half. We are closely watching changes from the US government and will take necessary actions in collaboration with our customers. Q: Could you provide insights into the automotive market and the contributions from new designs like the micro LED smart cockpit? A: Frank Ke, CEO and President: For 2025 and 2026, we see the expansion of the smart market demand, with OEMs focusing on differentiation and consumers seeking more in-car entertainment. Screen sizes within vehicles are increasing, and display applications in cockpits are expanding. After acquiring BHTC, our automotive revenue exceeded $70 billion. We aim for double-digit revenue growth in our mobility solution, leveraging our micro LED technology and BHTC acquisition to capture market opportunities and provide flexibility in production for our customers. Q: Regarding micro LED developments, have there been any breakthroughs in terms of cost, and what are your revenue goals for the next five years? A: Unidentified Executive: We are implementing mass production capacities at the G 4.5A, achieving breakthroughs like the 42-inch single module production line, which reduces assembly costs and optimizes manufacturing costs. Micro LED has a material cost advantage, with cost reductions every two years. We are extending micro LED to new applications, including large-size TVs, wearables, and automotive applications. We expect micro LED revenue to increase YOY, especially with the launch of new products in the second half of 2026. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
