Latest news with #ShiladityaSengupta
Business Wire
38 minutes ago
- Business
- Business Wire
Vyome To Mark First Day of Trading as HIND with Nasdaq Opening Bell
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Vyome Holdings (Nasdaq: HIND), a clinical-stage healthcare holding company targeting immuno-inflammatory and rare diseases in the US and global markets with large market potential, will be ringing the Nasdaq Opening Bell today in honor of its first day of trading as 'HIND.' The occasion will also mark India's 79 th Independence Day. 'The HIND journey begins today, a journey in which anyone, anywhere in the world can now participate thanks to our stock being on Nasdaq,' said Krishna Gupta, Chairman of Vyome. 'Our commitment to shareholders is simple: every decision we make will be in their best interests because we have no debt and because our board is smart and heavily aligned with shareholders.' 'Our innovation pipeline is very deep and we have access to world-class talent in both the US and India,' said Shiladitya Sengupta, Founder of Vyome and Associate Professor of Medicine at Harvard Medical School. 'Our immediate focus will be to unlock the value of our clinical stage assets that all revolve around major unmet needs in the $100 billion immuno-inflammatory market, but our vision extends well beyond that.' 'This milestone is the result of phenomenal teamwork across continents – from our scientists and clinicians to our partners and advisors and most importantly our key investors – all united by a shared vision. We are committed to cost-effective operations to create maximal value for all our shareholders going forward,' said Venkat Nelabhotla, Co-founder and CEO of Vyome. 'It is such an honor to celebrate India's Independence Day at the Nasdaq, which we believe is a first,' added Gupta. 'We believe in the special relationship between the US and India, we are a product of it, and we are confident it will be the defining partnership of the next decade – whether in Healthcare, AI, or a number of other innovation-related corridors. Jai HIND and God Bless AMERICA!' Maxim Group LLC served as financial advisor to ReShape in connection with the transactions and Fox Rothschild LLP acted as its legal counsel. Chardan served as financial advisor to Vyome for the merger and Sichenzia Ross Ference Carmel LLP acted as its legal counsel. About Vyome Vyome is building a healthcare platform spanning the US-India innovation corridor. Based in Cambridge, MA, Vyome's immediate focus is leveraging its clinical-stage assets to transform the lives of patients with immuno-inflammatory conditions. By applying groundbreaking science and its unique positioning across the US-India innovation corridor, Vyome seeks to deliver lasting value to shareholders in a hyper cost-efficient manner while upholding global standards of quality and safety. To learn more, please visit Visit us on social media: Facebook X LinkedIn Forward-Looking Statements Certain statements made in this press release are 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as 'target,' 'believe,' 'expect,' 'will,' 'shall,' 'may,' 'anticipate,' 'estimate,' 'would,' 'positioned,' 'future,' 'forecast,' 'intend,' 'plan,' 'project,' 'outlook', and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Examples of forward-looking statements include, among others, statements made in this release regarding the merger, including the benefits of the merger, revenue opportunities, anticipated future financial and operating performance, and results, including estimates for growth. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management's current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Vyome's control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others, the following: (a) the occurrence of any event, change, or other circumstances relating to the combined company; (b) failure to obtain the necessary consents and approvals; (c) the risk that the merger disrupts current plans and operations as a result of the announcement and consummation of the merger; (e) costs related to the merger; and (f) changes in applicable laws or regulations. Vyome cautions that the foregoing list of factors is not exhaustive. Vyome cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Vyome does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
Business Wire
2 days ago
- Business
- Business Wire
Vyome Announces Nasdaq Approval of Merger with ReShape Lifesciences, Set to Begin Trading as HIND
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Vyome Therapeutics, Inc., a clinical-stage healthcare company targeting immuno-inflammatory and rare diseases in the US and global markets with large market potential, today announced that The Nasdaq Stock Market has approved its listing upon completion of the Company's previously announced merger with ReShape Lifesciences (Nasdaq: RSLS), which is expected to take effect for marketplace purposes with the open of trading on Friday, August 15, 2025 under the name Vyome Holdings, Inc. and the trading symbol 'HIND.' 'Nasdaq's approval is right on track and now we are marching forward to ring the bell on our planned listing date this Friday. We look forward to welcoming RSLS shareholders and invite all others who wish to be part of our journey, which I promise will at all times be focused only on shareholder value. If you believe in the global healthcare market, in the opportunities to do business between the US and India, and in the value of a group of smart people driving real innovation across science and AI, you believe in Vyome,' said Krishna Gupta, Chairman of Vyome. 'Inflammation is one of the most impactful chronic conditions afflicting humanity today. There are a large number of inflammatory diseases, a market exceeding over $100B, and all connected to our immune system not functioning as it should. Vyome's existing, clinical stage assets – developed over years of work – are focused on major unmet indications in this immuno-inflammatory space,' said Shiladitya Sengupta, founder of Vyome and Associate Professor of Medicine at Harvard Medical School. In connection with the expected completion of the merger and Nasdaq requirements, ReShape's Board of Directors has declared a 1-for-4 reverse stock split of the company's common stock, which will also be effective for marketplace purposes upon the commencement of trading on August 15, 2025. At that time, each four shares of issued and outstanding common stock and equivalents will be converted into one share of common stock. The new CUSIP number for the company's common stock following the reverse stock split and merger will be 92943X104. The reverse split does not impact the post-merger ownership allocations between the ReShape and Vyome shareholders in the deal. About Vyome Vyome Therapeutics is building a healthcare platform spanning the US-India innovation corridor. Vyome's immediate focus is leveraging its clinical-stage assets to transform the lives of patients with immuno-inflammatory conditions. By applying groundbreaking science and its unique positioning across the US-India innovation corridor, Vyome seeks to deliver lasting value to shareholders in a hyper cost-efficient manner while upholding global standards of quality and safety. Based in Cambridge, MA, the company has announced its intent to be listed on the Nasdaq exchange under the ticker 'HIND' pursuant to a reverse merger with ReShape Lifesciences Inc. (Nasdaq: RSLS) on August 15, 2025. To learn more, please visit Forward-Looking Statements Certain statements contained in this document are "forward-looking statements." Examples of such statements include, but are not limited to, statements relating to the anticipated timing and completion of the proposed merger and reverse stock split and the combined company's listing on the Nasdaq Stock Market after closing of the proposed merger. ReShape and/or the combined company may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management's current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, risks and uncertainties associated with the ability to consummate the proposed merger through the process being conducted by the parties. ReShape disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made.
Business Wire
3 days ago
- Business
- Business Wire
Vyome Announces New Board of Directors with Deep MIT and AI Ties
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Vyome Therapeutics, Inc., a clinical-stage healthcare company targeting immuno-inflammatory and rare diseases in the US and global markets with large market potential, today announced its post-closing Board of Directors, expected to take control of the ReShape Lifesciences (NASDAQ: RSLS) public entity on Friday, August 15, 2025, which will be renamed Vyome Holdings, Inc. post-closing and trade under the ticker symbol HIND. The new Vyome board members, which include four Massachusetts Institute of Technology (MIT) alums, are all persons with prior board or executive management experience and are based in the US while having deep ties to the Indian subcontinent and the latest advances in AI. "We are offering RSLS shareholders significant potential value, and no member of the ReShape board or its management team has been invited to join Vyome Holdings. It is critical to have a board that is fully aligned with all shareholders, and that's the board we have taking over on Friday. We have a massive vision with a clean company at close – no debt, no toxic structure, all major shareholders locked up, and a world-class team which we look forward to sharing more about in the coming days and weeks," said Krishna Gupta, Chairman of Vyome Holdings. The Vyome board will include the following individuals: Krishna Gupta (Chairman), MIT engineering/business alum and CEO of Remus Capital - very focused on Vertical AI, applying AI into large traditional industries, including healthcare. He has spent extensive time doing business across India, having been to 22 of its 36 states and union territories. Shiladitya Sengupta (Founder), MIT postgrad - serial entrepreneur and reputed professor/researcher at MIT and Harvard Medical School focused on the intersection of medicine and engineering. He was a gold medalist at India's top medical university (AIIMS). Venkat Nelabhotla (Co-founder and CEO), IIM Ahmedabad alum - a seasoned operator with 30+ years of success across pharma, biotech, and CPG industries. He has been a CEO of Emami Limited - a publicly listed company in India, and during his tenure played a pivotal role in significantly increasing the market cap. Mohanjit Jolly (Shareholder), MIT alum and Partner of Iron Pillar – a seasoned investor and board member for cutting-edge technology companies. He has been investing in India for nearly 20 years. John Tincoff (Shareholder), Georgetown alum, Partner at Remus Capital - has a deep focus on industrial applications with extensive governance experience. He co-manages Remus Capital and leads its industrial AI investing practice, while also having significant board experience across verticals. He spent many years living in South Asia, including significant experience in India. Stash Pomichter (Shareholder), MIT engineering dropout and is a member of the Remus Capital team - has a deep focus on cutting-edge AI applications from voice to robotics. He grew up in India. About Vyome Therapeutics Vyome Therapeutics is building a healthcare platform spanning the US-India innovation corridor. Vyome's immediate focus is leveraging its clinical-stage assets to transform the lives of patients with immuno-inflammatory conditions. By applying groundbreaking science and its unique positioning across the US-India innovation corridor, Vyome seeks to deliver lasting value to shareholders in a hyper cost-efficient manner while upholding global standards of quality and safety. Based in Cambridge, MA, the company has announced its intent to be listed on the Nasdaq exchange under the ticker 'HIND' pursuant to a reverse merger with ReShape Lifesciences Inc. (Nasdaq: RSLS) in early 2025. To learn more, please visit Visit us on social media: Facebook X LinkedIn Forward-Looking Statements Certain statements made in this press release are 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as 'target,' 'believe,' 'expect,' 'will,' 'shall,' 'may,' 'anticipate,' 'estimate,' 'would,' 'positioned,' 'future,' 'forecast,' 'intend,' 'plan,' 'project,' 'outlook', and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Examples of forward-looking statements include, among others, statements made in this report regarding the merger, including the benefits of the merger, revenue opportunities, anticipated future financial and operating performance, and results, including estimates for growth, and the expected timing of the merger. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management's current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Vyome's control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others, the following: (a) the occurrence of any event, change, or other circumstances that could give rise to the termination of the merger; (b) failure to obtain the necessary consents and approvals, including the approval of ReShape's stockholders; (c) the inability to complete the merger or satisfy other closing conditions; (d) the risk that the merger disrupts current plans and operations as a result of the announcement and consummation of the merger; (e) the approval of the continued listing application of ReShape to have the common stock of the combined company continue to be traded on Nasdaq; (f) costs related to the merger; and (g) changes in applicable laws or regulations. Vyome cautions that the foregoing list of factors is not exhaustive. Vyome cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Vyome does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
