Latest news with #Flagship
The Independent
27-05-2025
- Business
- The Independent
American Airlines opens new lounges that are ‘like hotels', with spa-style showers and fireplaces
American Airlines has opened an 'oasis' at Philadelphia International Airport — two connected lounges one-and-a-half times as big as a hockey rink that the carrier claims feel more like hotels than airports, with spa-style showers and cozy fireplaces. The new Flagship and Admirals Club lounges, which share a reception area, are located in the A-West terminal between gates A15 and A16 and replace the Admirals Club lounge in the A-East terminal. American said in a statement that 'every element' of the lounges 'has been thoughtfully curated to balance style, comfort and function', leading to the spaces 'feeling less like an airport and more like a modern hospitality destination'. The carrier explained that passengers will be surrounded by 'natural materials, warm woods and organic textures', with 'zoned lighting and ambient music setting the tone for relaxation or focus'. Seating options include café chairs, bar stools, lounge seats and private work pods, with both lounges, which cover 25,000 square feet, organized into 'neighborhoods'. In the 'lounge neighborhood' is 'plush seating and a cozy fireplace', the 'dining and bar neighborhoods' are a mix of self-serve stations and full-service bars; the 'villas' offer restrooms and spa-style showers, and the kids' room is a 'playful space for families traveling with children'. Of the two lounges, the Flagship is more upscale. Here, customers will be greeted with a complimentary glass of Champagne, enjoy panoramic runway views, relax in a spa-style shower and enjoy dishes created by renowned local chef and James Beard Award Semifinalist Randy Rucker. At the Admirals Club lounge, 'a refreshed take on the classic lounge experience', passengers can sip specialty Don Francisco coffee and order refreshments from a full-service bar. 'We are excited to welcome our customers into American's newest preflight experience with the opening of our brand-new Flagship and Admirals Club lounges in the A-West terminal,' said Heather Garboden, American's Chief Customer Officer. 'With more than 19 million travelers passing through Philadelphia last year, our passionate team worked zealously to create a calm, comfortable sanctuary away from the terminal hustle where customers can relax, recharge and feel taken care of before their journey takes off.' American had more than 355 peak-day departures out of Philadelphia International Airport in 2024 to more than 120 destinations in 26 countries.
Miami Herald
15-05-2025
- Business
- Miami Herald
Luxury beach resort owner files for Chapter 11 bankruptcy
While conventional wisdom dictates that location is the most important factor in a successful real estate business, sometimes even the best-located companies struggle to bring in customers. In February 2025, Allegiant Travel Company (ALGT) announced that it was looking to sell its 785-room Sunseeker Resort Charlotte Harbor resort in southwestern Florida after several years of poor financial performance. While February is still the popular sun-seeking season, the resort had been operating at just 35% capacity at the time that Allegiant informed investors of its plans. The $322.8 million impairment charge to keep Sunseeker operating had resulted in a fourth-quarter net loss of $216.2 million; as of May, a buyer has still not been announced. Don't miss the move: Subscribe to TheStreet's free daily newsletter A significantly smaller company behind three luxury timeshare resorts on the Jersey Shore, Flagship Resort Development Corporation is now also asking for Chapter 11 protection in New Jersey bankruptcy court. The three resorts, Flagship Resort, Atlantic Palace and La Sammana, are all located on the Atlantic City boardwalk. The petition filed in the U.S. Bankruptcy Court for the District of New Jersey states that Flagship currently haws $50 million in assets and $100 million in debts and other liabilities. Related: Airline that filed for bankruptcy selling off parts "Given the $8.3 million owed to the owners associations, the debtor's historically reduced margins, the potential costs of defending a lengthy class action proceeding, not to mention the risk of an adverse judgment therein, the debtors were forced to seek Chapter 11 relief," Flagship Resort CFO Cherie Parks said in the declaration first reported by legal outlet ProPublica. The declaration names higher interest rates and struggles recovering from the tourism dropoff during the Covid pandemic as the reasons Flagship has no other choice but to seek bankruptcy protection. It further said that over 40% of its owners defaulted on their mortgages after rising interest rates significantly decreased their value. In 2019, 19 Flagship owners sued the company over what it claimed was deceptive advertising of the timeshares as a great investment. A New Jersey court eventually awarded $1,668,423.88 to the owners while Flagship also faced a second lawsuit in February 2023 and a class-action suit in April 2023. More on retail and bankruptcy: Airline that filed for bankruptcy selling off partsHome Depot CEO sounds the alarm on a growing problemFamous restaurant files for Chapter 11 bankruptcy "Plaintiffs claimed that, during these presentations, defendant made various misrepresentations which induced them to purchase a Flagship Timeshare Interval," wrote the appellate court that confirmed the earlier ruling. "These misrepresentations included: the timeshare interval was an investment akin to a conventional real estate interest; the value of the interval would increase over time; the timeshare interval was 'readily marketable' and that they could sell it at any time; there would be no increase in the annual maintenance fees over time; they would be able to exchange their intervals; they could book rooms at a resort whenever they wanted." Development firm AC Boardwalk Investments LLC has offered a preliminary stalking horse bid to purchase Flagship for $45.5 million while the company will also hold an auction seeking higher bidders between July 16 and 18. Lenders Banc of California and Colebrook Financial Co. have additionally entered into a debtor-in-possession financing plan to provide Flagship with approximately $5 million in funds. Related: Veteran fund manager issues dire S&P 500 warning for 2025 Copyright 2025 The Arena Group, Inc. All Rights Reserved
Business Wire
15-05-2025
- Business
- Business Wire
Janux Therapeutics Appoints Janeen Doyle as Chief Corporate and Business Development Officer
SAN DIEGO--(BUSINESS WIRE)-- Janux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms, today announced the appointment of Janeen Doyle, MBA, as Chief Corporate and Business Development Officer. 'Janeen's unique blend of corporate development, strategic execution, and clinical insight makes her an ideal leader to help drive the next phase of growth at Janux,' said David Campbell, Ph.D., President and CEO of Janux. 'Her proven track record of building value through transformational partnerships and her ability to integrate business and science will be instrumental as we continue advancing our pipeline of tumor-activated therapeutics.' 'I'm thrilled to join Janux at such an exciting time as the company expands its clinical programs and continues to advance its pipeline,' said Ms. Doyle. 'The company's innovative TRACTr and TRACIr platforms and its commitment to delivering safer, more effective therapies to cancer patients present tremendous opportunities. I look forward to working with the team to shape and execute the company's corporate and business development strategy.' Ms. Doyle brings more than 24 years of broad and strategic experience spanning large pharmaceutical companies, mid-sized biotech, and high-growth venture-backed enterprises. She joins Janux from Flagship Pioneering, a life sciences-focused venture capital firm, where she served as a Senior Partner and Senior Vice President of Corporate Partnerships and Program Development. At Flagship, she was responsible for strategy and execution of collaborations between Flagship's portfolio companies and global pharmaceutical and technology partners. Prior to Flagship, Ms. Doyle spent over 15 years at Bristol Myers Squibb and Celgene in a breadth of cross-functional positions of increasing responsibility, starting in areas of medical affairs and program leadership, and most recently serving as Senior Vice President of Strategy & Business Development. In that role, she oversaw a portfolio of 300+ strategic collaborations and a broad equity investing portfolio, including serving as a board observer across investments. Her leadership encompassed partnerships from discovery through commercialization across multiple therapeutic areas. Previous to this, she held roles in clinical science and operations. Janux's TRACTr and TRACIr Pipeline Janux's first clinical candidate, JANX007, is a TRACTr that targets prostate-specific membrane antigen (PSMA) and is being investigated in a Phase 1 clinical trial in adult patients with metastatic castration-resistant prostate cancer (mCRPC). Janux's second clinical candidate, JANX008, is a TRACTr that targets epidermal growth factor receptor (EGFR) and is being studied in a Phase 1 clinical trial for the treatment of multiple solid cancers including colorectal carcinoma, squamous cell carcinoma of the head and neck, non-small cell lung cancer, renal cell carcinoma, small cell lung cancer, pancreatic ductal adenocarcinoma and triple-negative breast cancer. We are also generating a number of additional TRACTr and TRACIr programs for potential future development, some of which are at development candidate stage or later. We are currently assessing priorities in our preclinical pipeline. About Janux Therapeutics Janux is a clinical-stage biopharmaceutical company developing tumor-activated immunotherapies for cancer. Janux's proprietary technology enabled the development of two distinct bispecific platforms: TRACTr and TRACIr. The goal of both platforms is to provide cancer patients with safe and effective therapeutics that direct and guide their immune system to eradicate tumors while minimizing safety concerns. Janux is currently developing a broad pipeline of TRACTr and TRACIr therapeutics directed at several targets to treat solid tumors. Janux has two TRACTr therapeutic candidates in clinical trials, the first targeting PSMA is in development for prostate cancer, and the second targeting EGFR is being developed for colorectal carcinoma, squamous cell carcinoma of the head and neck, non-small cell lung cancer, renal cell carcinoma, small cell lung cancer, pancreatic ductal adenocarcinoma and triple-negative breast cancer. For more information, please visit and follow us on LinkedIn. Forward-Looking Statements This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, Janux's ability to bring new treatments to cancer patients in need, expectations regarding the timing, scope and results of Janux's development activities, including its ongoing and planned preclinical studies and clinical trials, the timing of and plans for regulatory filings, the potential benefits of Janux's product candidates and platform technologies, and expectations regarding the use of Janux's platform technologies to generate novel product candidates and the strength of Janux's balance sheet and the adequacy of cash on hand. Factors that may cause actual results to differ materially include the risk that compounds that appear promising in early research do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Janux may not obtain approval to market its product candidates, uncertainties associated with performing clinical trials, regulatory filings and applications, risks associated with reliance on third parties to successfully conduct clinical trials, the risks associated with reliance on outside financing to meet capital requirements, and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words 'may,' 'will,' 'would,' 'could,' 'should,' 'believes,' 'estimates,' 'projects,' 'promise,' 'potential,' 'expects,' 'plans,' 'anticipates,' 'intends,' 'continues,' 'designed,' 'goal,' or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties Janux faces, please refer to Janux's periodic and other filings with the Securities and Exchange Commission, which are available at Such forward-looking statements are current only as of the date they are made, and Janux assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Yahoo
15-05-2025
- Business
- Yahoo
Flagship Communities Real Estate Investment Trust Reports Voting Results from 2025 Annual Meeting of Unitholders
Not for distribution to U.S. newswire services or dissemination in the United States. TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- Flagship Communities Real Estate Investment Trust ('Flagship' or the 'REIT') (TSX: MHC.U) (TSX: today announced that each of the nine individuals nominated for election as a trustee of Flagship at the REIT's Annual Meeting of Unitholders held on May 14, 2025 (the "Meeting"), was elected. Voting results for the individual trustees of the REIT are as follows: Director Number of VotesFOR Number of VotesWithheld Percentage of Votes CastFOR Matter Peter C.B. Bynoe 15,108,058 17,295 99.9% Louis M. Forbes 15,022,169 103,184 99.3% Kurtis Keeney 15,105,108 20,245 99.9% Jonathan Li 15,023,269 102,084 99.3% Candace McGraw 15,105,073 20,280 99.9% J. Susan Monteith 15,104,858 20,495 99.9% Andrew Oppenheim 14,213,477 911,876 94.0% Ann Rooney 15,006,019 119,334 99.2% Nathan Smith 15,105,108 20,245 99.9% At the Meeting, a resolution re-appointing MNP LLP as auditor of the REIT for the ensuing year and authorizing the Board of Trustees of the REIT to fix their remuneration, as more particularly described in the REIT's management information circular dated March 20, 2025 (the 'Circular'), was passed as an ordinary resolution of unitholders by a majority on a vote conducted by way of ballot. The results of the ballot were 15,449,771 votes (99.4%) voting in favour of the resolution. A non-binding advisory resolution on the REIT's approach to executive compensation, as more particularly described in the Circular, was passed as an ordinary resolution of unitholders by a majority on a vote conducted by way of ballot. The results of the ballot were 14,922,456 votes (98.7%) voting in favour of the 'Say-on-Pay' resolution. Final results on all matters voted on at the Meeting will be filed shortly with the Canadian securities regulators. About Flagship Communities Real Estate Investment Trust Flagship Communities Real Estate Investment Trust (TSX: MHC.U; is a leading operator of affordable residential Manufactured Housing Communities primarily serving working families seeking affordable home ownership. The REIT owns and operates exceptional residential living experiences and investment opportunities in family-oriented communities in Kentucky, Indiana, Ohio, West Virginia, Tennessee, Arkansas, Missouri, and Illinois. To learn more about Flagship, visit For further information, please contact: Eddie Carlisle, Chief Financial Officer Flagship Communities Real Estate Investment Trust Tel: +1 (859) 568-3390Sign in to access your portfolio
Yahoo
14-05-2025
- Business
- Yahoo
MassLive's 12 innovation leaders to watch in 2025
These are tough times for the innovation economy in Massachusetts. The challenges include a venture capital funding slump, almost no appetite from stock markets for initial public offerings and a White House bent on removing most federal support for sustainable energy production. So, picking a group of a dozen Massachusetts leaders of the innovation economy — which I define as tech, biotech, climate tech and other emerging sectors — wasn't easy. Especially since I wanted to focus on people who weren't just in survival mode, but moving their organizations forward despite the headwinds. I assembled my own initial list and then sought nominations from a set of 35 well-connected executives who work in those industries. (None of these nominators appear on the list, to avoid conflicts.) If you want to know where some of the most significant swings in biotech will be taken over the next few years, follow the money to a red brick building on the banks of the Charles River in Cambridge. That's where Noubar Afeyan and more than 500 of his colleagues have a war chest of several billion dollars to hatch new companies based on cutting-edge science. Already, they've launched companies like Moderna, Foghorn Therapeutics and Syros Pharmaceuticals — all publicly traded. In 2024, Flagship raised another $3.6 billion to invest, allowing it to create another 25 or so more. Flagship has been able to attract top talent to these companies, ranging from the former CEO of to a former commissioner of the Food and Drug Administration. And lately, Afeyan has been talking about the potential that will arise when we combine human intelligence, nature's intelligence and artificial intelligence — a trifecta he calls 'polyintelligence.' Taking advantage of all three, he has written, could result in a 'modern-day renaissance.' Whoop's illuminated logo looms over Fenway Park's Green Monster, and the users of its fitness monitoring wristband include Cristiano Ronaldo, Tiger Woods and Patrick Mahomes. Not bad for a company founded in 2012 by Ahmed and two other Harvard undergrads. (Ahmed was a co-captain of the school's varsity squash team.) In May, Whoop launched the 5.0 and MG (medical grade) versions of its wristband, with longer battery life and features like blood pressure and cardiac health monitoring. The company was valued at $3.6 billion after its most recent funding round, though it remains privately held. Ahmed is a frequent host of the Whoop podcast, which has featured guests such as 'White Lotus' creator Mike White and golfer Rory McIlroy. The big question for Ahmed: can he build a global brand, compete with players like Apple and Google-owned Fitbit, and eventually take Whoop public? One company that could go public as soon as the markets warm up to IPOs is Circle, the Boston-based issuer of the USDC stablecoin, a kind of cryptocurrency. This so-called 'digital dollar' is designed to maintain a $1:$1 relationship to U.S. currency, and it's fully backed by cash or short-term U.S. treasury bonds, with regular audits, to bolster investors' trust. CEO and founder Jeremy Allaire has been an advocate for digital currency regulation, in Congressional testimony and in other public appearances, making him a buttoned-down exec working in a crypto landscape that can at times feel like the Wild West. 'In many respects, Circle has for a long time been under intense public scrutiny,' Allaire wrote in a letter that accompanied Circle's IPO filing last month. 'Becoming a publicly traded corporation on the New York Stock Exchange is a continuation of our desire to operate with the greatest transparency and accountability possible.' The company reported growing revenue ($1.7 billion) but declining net income ($157 million) for 2024. It's rare for a biotech investment firm to rent billboards in MBTA stations and along highways looking for promising founders. But that was the approach that took in 2024. Curie has raised nearly $1 billion to help launch new biotech companies, and the company has an in-house team of 100 support personnel who can help with recruiting and interpreting experimental data, enabling the startups it funds to move faster. Alexis Borisy has been the founder of more than a dozen biotech companies that have either gone public or been acquired. While he says he isn't sure whether the billboard campaign led directly to investments, he says that it produced more than 5,000 proposals from entrepreneurs, which have led to 27 investments so far. Most of those companies, Borisy says, remain in stealth mode, but they are working on treatments for conditions such as ALS, cancer, asthma and Huntington's disease. Despite the general anxiety afflicting much of the life science industry in 2025, Borisy says, 'The science is still amazing, and the need for transformative products for unmet medical needs remains.' If you've received an Amazon package recently, there's a pretty good chance that one of Tye Brady's robot minions helped make that happen. Not only does Amazon design all of its warehouse robots in Massachusetts, but it manufactures them here, too — more than 750,000 bots so far. Brady said at a recent panel discussion that 'there's no such thing as 100% automation … it will never exist.' Instead, he's a believer in making human-robot interactions safer and more seamless. Amazon Robotics has about 250 job openings, and earlier this month, it announced a new robot, Vulcan, that has a sense of touch, so that it can better handle objects made of different materials. Another Amazon executive worth an honorable mention here: Rohit Prasad, the company's Lexington-based head scientist for artificial general intelligence, and the former top scientist for the Alexa intelligent speaker. He worked on improving that product's ability to respond to commands and questions, but when I asked my Alexa what Prasad does at Amazon, its response was, 'Sorry, I don't have an answer for that.' Amazon, as a company, has been similarly mum about Prasad's recent contributions. In 2024, Alnylam launched a new RNAi therapy for a rare heart condition, reinforcing its leadership in RNA-based medicines. Since Yvonne Greenstreet took over as CEO in January 2022, Alnylam's stock has been on a tear — up more than 80% — and the former GlaxoSmithKline research executive has doubled the number of products that the company is working on. These could help treat Alzheimer's, Huntington's and hypertension. Alnylam was also the top-ranked Massachusetts company on last year's list of 'Best Workplaces for Innovators,' compiled by Fast Company magazine. In January, Vertex received FDA approval for a new non-opioid pain treatment, Journavx, which blocks pain signals before they reach the brain. Analysts who track the company expect that single product to generate more than $100 million in revenue this year, and triple that in 2026. Reshma Kewalramani has been at the company since 2017, and has helped expand the company's line of drugs for cystic fibrosis, as well as launching, in 2024, the first gene-editing-based treatment for sickle cell disease, Casgevy. Future drugs being developed by Vertex aim to treat kidney disease, neuropathic pain and type 1 diabetes. Just over a decade ago, the late MIT professor Ed Roberts calculated that MIT alumni had started more than 30,000 active companies that employed 4.6 million people and generated nearly $2 trillion in annual revenue. That makes the university not only a powerful economic engine for Massachusetts, where it employs more than 17,000 people, but for the country as a whole. With the federal government cutting its research funding under the Trump administration, President Sally Kornbluth finds herself playing defense, with up to one-quarter of the university's revenues at risk. Under Kornbluth, MIT has signed on to lawsuits seeking to block funding cuts initiated by the National Institutes of Health and the Department of Energy. And Kornbluth has defended the importance of foreign students and professors to the university, writing that 'MIT is an American university … but we would be gravely diminished without the students and scholars who join us from other nations.' A not-exactly-comprehensive hiring freeze was announced in February, and more belt-tightening is likely on the horizon. But Kornbluth will need to be creative (and diplomatic) to steer the state's most important school through turbulent waters. Another MIT-affiliated person worth an honorable mention on this list is Katie Rae, CEO and Managing Partner of Engine Ventures, a venture capital fund created by MIT that supports so-called 'tough tech' startups that require longer development times. In its portfolio are companies working on more energy-efficient ways to produce steel and cement, for instance, as well as the fusion power startup Commonwealth Fusion. In 2024, The Engine collected $398 million in additional capital — the bulk of it from investors other than MIT. With its 10th birthday approaching in 2027, and more than $1 billion in total assets under management now, it'd be good for Engine Ventures to be able to point to a big-money acquisition or initial public offering that returns some money to its coffers. (One company backed by Engine Ventures, Zapata AI, both went public and shut down last year.) The promise of fusion energy is a nearly limitless, clean and safe source of power. Fusion — the same reaction that powers the sun and other stars — produces no greenhouse gases, uses fuels that are abundant (like hydrogen from water), and doesn't leave behind long-lived radioactive waste. While a whole set of startups are trying to design workable fusion reactors, none has attracted more funding than Devens-based Commonwealth Fusion Systems, spun out of a lab at MIT. The company has raised more than $2 billion from investors like Emerson Collective, run by Steve Jobs' widow, Laurene Powell Jobs; Google; Engine Ventures; and Bill Gates. Bob Mumgaard, who earned a doctorate in Applied Plasma Physics and a master's in Nuclear Engineering from MIT, is overseeing the company's efforts to show it can build a reliable fusion power source. But it won't happen overnight. In late 2024, Commonwealth Fusion announced plans to independently finance and build the world's first commercial fusion power plant in Virginia, targeting the early 2030s as a date to be online and connected to the power grid. Some of the biggest tech companies in the world — including Microsoft, Google and IBM — are trying to make quantum computing useful. Many believe that quantum computers will be able to create far more accurate models and predictions related to weather, human disease, or stock market dynamics than today's computers. One of the startups that has been making waves amidst the whales of the field is Boston-based QuEra Computing, founded in 2018 by a group of professors from Harvard and MIT, and run by Andy Ory, a serial entrepreneur who grew up in Worcester. QuEra raised $230 million earlier this year and is working with the Massachusetts Green High Performance Computing Center in Holyoke to install one of its quantum computers there for academic researchers to use. As of yet, there's no timeline for the installation of that machine, says Yuval Boger of QuEra. When Michael Dell, the (now former) owner of the Boston Celtics, an early Facebook backer, and an heiress to the Subway fortune, band together to put half a billion dollars into a new science lab in Cambridge, you can bet it will attract some attention. Situated midway between Harvard and MIT, Arena has been hoovering up talent from places like Pfizer, Merck and the Broad Institute — including Stuart Schreiber, the chemist who is running the show. Arena aims to do basic research and then form companies to commercialize it, and two goals are to better compensate the scientists they hire and to move things from the lab into the market as quickly as possible. Schreiber says the lab has 80 staffers and focuses on 'drug discovery efforts in oncology, immunology and brain health. We are exploring new directions in metabolic disease and lung disease, among others.' He says there is also a plan in place to leverage artificial intelligence technology to better understand the underlying mechanisms of disease and how new drugs might address them. Daniela Rus is a robotics researcher who, since 2012, has been running MIT's Computer Science and Artificial Intelligence Lab. In 2024, she co-authored the book 'The Mind's Mirror: Risk and Reward in the Age of AI,' making the optimistic case for AI as a 'cognitive amplifier' that will drive progress — though also acknowledging the risks of misuse, and stressing the need for ethical guidelines. Rus is also a co-founder of Liquid AI, a company developing a more efficient approach to running powerful generative AI systems that it calls LFMs, or liquid foundation models. In December 2024, Liquid AI raised $250 million in funding, led by AMD Ventures, which valued the company at over $2 billion. Liquid AI is building out its team at offices in Cambridge and San Francisco. In a recent keynote at the Robotics Summit and Expo in Boston, she told the audience that AI is moving from 'saying' (chatbots) to 'showing' (producing audio and video) to 'doing' (interacting with things in the physical world). New head of $100M AI hub says Massachusetts' strengths shouldn't be a 'best-kept secret' These seven dynamics are making the Mass. job market 'chaotic' in 2025 Boston robotics company launches 'Star Wars'-themed droid Boston built America's innovation engine. Now it's under attack by Trump Read the original article on MassLive. 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
