As of March 2025, the venture debt market continues to experience rapid growth, fueled by evolving financing needs, technological advancements, and a dynamic economic landscape. According to Statista, the U.S. venture debt market is projected to reach $27.83 billion in 2025, with traditional venture debt accounting for approximately $23.94 billion of that total (Statista). This growth reflects an increasing demand for non-dilutive financing among startups and growth-stage companies seeking capital without giving up equity.

Startups are increasingly turning to venture debt as an attractive alternative to equity financing, particularly in capital-intensive sectors such as biotechnology, artificial intelligence, and climate technology. According to a report from Business Insider, this trend has been further amplified by volatile equity markets, encouraging founders to preserve ownership while still raising necessary funds (Business Insider).

The broader private debt market, which encompasses venture debt, has seen consistent growth in recent years. BlackRock’s 2025 Private Markets Outlook projects that private credit markets will continue to attract substantial capital inflows due to their potential for higher returns and portfolio diversification (BlackRock). Investors, particularly family offices and institutional funds, are shifting towards private credit, which includes venture debt, as a strategic alternative to traditional equity investments.

The rapid development of capital-intensive technologies like generative AI, biotech therapeutics, and clean energy solutions has created heightened demand for venture debt. According to Financial Times, many companies in these sectors require substantial upfront investment but may not yet be profitable, making venture debt a critical tool for bridging capital gaps without diluting ownership (Financial Times).

Several major venture debt deals have already been announced in 2025. In February, OpenAI secured $300 million in venture debt to support its AI infrastructure expansion. The financing round was led by Silicon Valley Bank (“SVB”) and JP Morgan, reflecting growing investor confidence in high-growth technology sectors (TechCrunch). Similarly, Sana Biotechnology, a leading cell engineering company, closed a $175 million venture debt round in January 2025 to accelerate the development of its next-generation cell therapies (GlobeNewsWire). The deal was facilitated by Hercules Capital, a prominent venture debt lender. In March, Rivian Automotive, a major player in the electric vehicle space, secured a $500 million line of credit from Bain Capital Credit to bolster production capacity and international expansion efforts (Electrek).

Despite broader macroeconomic uncertainties, venture debt markets appear poised for continued growth. Analysts from JP Morgan anticipate that moderate economic growth in 2025 will create a favorable climate for private credit expansion, driving increased demand for venture debt (J.P. Morgan). Institutional investors are increasingly pivoting toward private credit vehicles, including venture debt, as a means to achieve higher yields and greater diversification. According to a January 2025 report by Business Insider, family offices have accelerated their allocations to private credit, seeking stable returns despite broader equity market volatility (Business Insider).

Regulatory clarity is also expected to contribute to market growth. In February 2025, the U.S. Securities and Exchange Commission introduced updated guidelines for venture debt issuances, providing more robust protections for both lenders and borrowers (SEC). These regulations are expected to reduce default risk and encourage further capital deployment.

While economic conditions remain favorable, rising interest rates pose a potential challenge for the venture debt market. Higher borrowing costs could deter some startups from pursuing debt financing, especially those with uncertain revenue models. Additionally, as more lenders enter the venture debt space, competition has intensified, potentially pressuring lending terms and interest rates. According to BlackRock, increased competition may lead to a tightening of credit standards, limiting access for some early-stage companies (BlackRock).

The venture debt market in 2025 is poised for substantial growth, driven by increased demand for alternative financing, expanding private credit markets, and favorable regulatory changes. However, challenges such as rising interest rates and market saturation will require strategic navigation by both lenders and borrowers. Investors, lenders, and startups alike should remain agile in adapting to evolving market conditions, leveraging venture debt as a strategic tool for growth.

For those looking to gain deeper insights and engage with industry leaders, DealFlow Events will be hosting the Venture Debt Conference 2025 in New York City on April 10, 2025. This annual event brings together venture lenders, institutional investors, growth-stage companies, and financial professionals to discuss the latest trends and opportunities in the venture debt space. Attendees will have the unique opportunity to network with key stakeholders, hear firsthand about recent deals, and gain actionable insights into navigating the evolving landscape.  Companies seeking to learn about venture debt and other non-dilutive financing can attend for free.

More information about the event, including registration details, can be found at: Venture Debt Conference 2025

• The 37th Annual Roth Conference, to be held March 16-18 in Dana Point, California, will showcase the broadest group of companies in the event’s history, with senior executives from approximately 500 companies across various industries, including business services, consumer, healthcare, insurance, sustainability and technology, media and entertainment.
• Clene’s management will participate in a virtual fireside chat at 9:20 a.m. PST on March 18, as well as one-on-one investor meetings during the event.
• During the fireside chat and in investor meetings, the company will detail recent achievements and next steps for lead drug candidate CNM-Au8 for ALS and MS.

Clene Inc. (NASDAQ: CLNN) and its wholly owned subsidiary, Clene Nanomedicine Inc., a late clinical-stage biopharmaceutical company focused on improving mitochondrial health and protecting neuronal function to treat neurodegenerative diseases, including amyotrophic lateral sclerosis (“ALS”) and multiple sclerosis (“MS”), will attend the 37th Annual Roth Conference, according to a company news release (https://ibn.fm/odbPx).

Clene’s management will participate in a virtual fireside chat on March 18, at 9:20 a.m. PST, as well as one-on-one investor meetings, to discuss the company’s latest achievements and the next steps for lead drug candidate CNM-Au8. Investors interested in participating can register online at https://ibn.fm/laAfp. After the event, the presentation will be available on Clene’s website, in the Events section (https://ibn.fm/MrZEK).

The 37th Annual Roth Conference will be held March 16-18, at The Laguna Cliffs Marriott, located in Dana Point, California. This premier event aims to provide a robust platform for institutional investors to connect with executive management from an array of public and private growth companies.

Clene’s CNM-Au8 is an oral suspension of gold nanocrystals designed to improve cellular energy production and utilization, which is critical for maintaining neuronal health. The drug candidate has been shown to improve central nervous system cells’ survival and function via a mechanism that targets mitochondrial function and the nicotinamide adenine dinucleotide (“NAD”) pathway while reducing oxidative stress. By targeting mitochondrial dysfunction, CNM-Au8 can provide neuroprotection and promote remyelination, potentially altering the course of neurodegenerative conditions.

Following encouraging clinical trial results, Clene is seeking to bring CNM-Au8 to market as soon as possible. In two Phase 2 clinical trials, RESCUE-ALS and HEALEY ALS Platform Trials, participants who were administered CNM-Au8 saw significant improvement in survival rates, delayed clinical worsening, and improvements in a combined assessment of function and survival. The company is now organizing a confirmatory Phase 3 trial (“RESTORE-ALS”) to evaluate the survival benefit of CNM-Au8, while preparing for a potential accelerated approval pathway for the drug candidate as per the additional written guidance received from the U.S. Food and Drug Administration (“FDA”) in late 2024.

Clene is preparing a New Drug Application (“NDA”) to submit to the FDA in the second half of 2025 to secure accelerated approval for CNM-Au8 for ALS. Clene is currently conducting further analyses recommended by the FDA regarding neurofilament light chain (“NfL”) data, a key biomarker for ALS, in its NIH-sponsored Expanded Access Program (“EAP”). To strengthen this analysis, the company signed an agreement with APST Research GmbH (“APST”) to leverage its extensive dataset to compare NfL levels in NIH-sponsored EAP participants treated with CNM-Au8 against matched historical ALS controls. The goal is to determine if CNM-Au8 treatment reduces NfL decline, and to demonstrate that the rate of NfL change is associated with survival in the NIH-sponsored EAP ALS population.

For more information, visit the company’s website at www.Clene.com.

NOTE TO INVESTORS: The latest news and updates relating to CLNN are available in the company’s newsroom at https://ibn.fm/CLNN

The highly anticipated 37th Annual ROTH Conference, hosted by Roth Capital Partners, will bring together an influential gathering of investors, entrepreneurs, executives, and professionals from across a diverse range of industries. Taking place March 16-18, 2025, at the Laguna Cliffs Marriott in Dana Point, California, this premier event promises to provide participants with unmatched opportunities for networking, collaboration, and business growth.

This year’s conference will feature executives from over 500 public and private companies across a broad spectrum of sectors, including technology, healthcare, industrial growth, sustainability, media and entertainment, and more. The ROTH Conference is designed as a dynamic platform where industry leaders and investors can engage in high-impact discussions, exchange innovative ideas, and forge long-lasting business relationships.

“As we celebrate nearly four decades of fostering growth and collaboration, we remain committed to creating a robust environment where emerging companies can showcase their potential and industry giants can explore new opportunities,” said Byron Roth, Executive Chairman of Roth Capital Partners. “With an unparalleled lineup of presentations, panels, and networking activities, this year’s conference will continue to be a catalyst for innovation and investment.”

Key highlights of the 37th Annual ROTH Conference include:

• 1-on-1 and small group meetings for in-depth company insights and investment discussions
• Analyst-selected fireside chats, thematic industry panels, and high-profile keynote presentations
• ROTH / CAF charity events, featuring athletic activities benefiting the Challenged Athletes Foundation, with all proceeds matched by ROTH
• Engaging networking events including Private Consumer Day, live entertainment, and recreational activities such as pickleball, yoga, and golf

This exclusive, invite-only conference is a must-attend for investors looking to identify key opportunities and executives eager to present their companies to a network of decision-makers. From AI and technology to sustainability and consumer brands, the ROTH Conference provides a comprehensive view of today’s most promising industries.

“The ROTH Conference is more than just an event—it’s a launching pad for transformative partnerships,” said Sagar Sheth, CEO of Roth Capital Partners. “We’ve designed this year’s conference to create meaningful dialogues and drive the future of growth investing.”

The event is set to be a powerful nexus for innovation, with panels covering topics like AI infrastructure, capital markets, longevity and supplementation, energy, and consumer brand investing. Attendees will leave equipped with valuable insights to navigate the ever-evolving market landscape.

For more information and to register for the 37th Annual ROTH Conference, visit www.roth.com/oc2025.

• Brera Holdings, an Ireland-based, international holding company, has signed a Letter of Intent (“LOI”) with owner Lalgy Transport to further invest in Black Bulls, a Mozambican football team and current Mocambola league champions in the top tier
• Once fulfilled, Brera will become a co-owner of the club, assisting in enhancing its competitiveness and expanding opportunities for Mozambican football domestically, throughout Africa, and abroad

Brera Holdings (NASDAQ: BREA), an Ireland-based, international holding company focused on expanding its global portfolio of men’s and women’s sports clubs through a multi-club ownership (“MCO”) approach, just announced a signed Letter of Intent (“LOI”) with owner Lalgy Transport to further invest in Black Bulls, a Mozambican football team and the current champions of the top-tier Mocambola league. Upon the fulfillment of the investment, Brera will become a co-owner of the club, strengthening it, enhancing its competitiveness, and expanding opportunities for Mozambican football domestically, in Africa, and abroad (https://ibn.fm/ETBst).

This LOI points to Brera’s understanding of the African football market and the recognition of the continent’s potential. In March 2023, the company officially entered this market by establishing Brera Tchumene FC in Mozambique. The club would quickly rise to the First Division after winning its post-season tournament, which spoke to Brera’s keen talent eye, along with the support it offers its clubs and its players.

As of 2023, Mozambique had a population of 33.64 million and is seen as a deep reservoir of untapped football talent. Yet, its player infrastructure remained limited, with only one organization, Associação Black Bulls, actively focusing on cultivating young athletes. The gaps in this country present significant opportunities for new initiatives to develop talent and connect players with more competitive leagues globally, which is why Brera saw it fit to venture into this market.

“Our vision is to not only elevate Mozambique’s football landscape but also play a crucial role in Africa’s overall football ecosystem. We are building an operation that will attract talent, nurture excellence, and open doors for Mozambican players on the global stage,” noted Vasco Imperato, Brera Tchumene FC’s CEO (https://ibn.fm/Vq1yD).

Brera Tchumene FC will pause independent operations in official competitions following the Black Bulls’ LOI. The moves are designed to ensure sustainability, accelerate growth, and drive the long-term success of African football, optimizing resources for a stronger, more unified development pathway. It marks an exciting new chapter in the company’s mission to nurture elite talent and build lasting value in one of the world’s most promising regions (https://ibn.fm/ETBst).

Brera deeply appreciates the supporters, staff, and players of Brera Tchumene FC, whose passion and dedication have been instrumental in this journey. According to Brera’s management, their legacy will continue to inspire as Brera expands its commitment to fostering the next generation of African football stars and strengthening its global footprint in the sport.

For additional information, visit the company’s website at www.BreraHoldings.com.

NOTE TO INVESTORS: The latest news and updates relating to BREA are available in the company’s newsroom at https://ibn.fm/BREA

• The companies expect the application to accelerate autonomy in agriculture, streamlining agricultural operations.
• The technology aims to enhance efficiency in large-scale farming by providing real-time optimization solutions.
• The initiative is part of a broader strategic partnership between D-Wave and Staque to accelerate commercial adoption of annealing quantum computing.

D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave”), a leader in quantum computing systems, software, and services, and the first supplier of production-grade quantum computers, and Staque, a leading consulting and development practice in AI, blockchain and quantum computing, collaborated to develop a hybrid-quantum system designed to optimize the movements of autonomous agricultural vehicles at scale. The application, built with support from Canada’s DIGITAL Global Innovation Cluster and Verge Ag, seeks to streamline farming operations by addressing a fundamental challenge: real-time route optimization in complex environments, according to a D-Wave press release (https://ibn.fm/CmPMC).

Classical computing methods often struggle with the complexity of planning efficient movements for fleets of autonomous farming machines. Current computational methods often require days or weeks to process optimal routes, making them impractical for real-time decision-making. By leveraging D-Wave’s quantum technology, the new application aims to provide faster optimization, helping farm operators manage large-scale agricultural vehicle movements more effectively.

The application developed with Staque represents one of the first commercially viable quantum-powered solutions for the farming sector. The need for more efficient farming operations is increasing as autonomous agricultural machinery gains traction. Agricultural research institutions, equipment manufacturers, and policymakers are looking for solutions that can enhance productivity while maintaining sustainability. Quantum optimization could play a key role by helping farmers make data-driven decisions faster and more efficiently.

This initiative is part of a broader joint effort by D-Wave and Staque to accelerate the adoption of quantum computing in commercial applications. The two companies recently signed a strategic partnership, announced at the Qubits UAE event in 2024, to expand quantum-based optimization solutions.

“Traditional computation methods typically require days or weeks to compute solutions, which is too long for agricultural decision-makers,” said Krishna Ganesh, COO of Staque. “We believe in the power of quantum technology to transform and innovate, and this strategic partnership with D-Wave will allow us to provide annealing quantum computing solutions with the speed and accuracy that is important for the agriculture industry.”

“There is an urgent need to revolutionize how agriculture resources are managed and optimized,” said Dr. Muhammad Khan, project director and SVP of Innovation at Verge Ag. “Traditional computation methods are unable to provide real-time decisions that are critical to agriculture, and, as a result, we are excited about the work to build applications which could provide real-time analysis crucial for farmers and decision makers in a variety of areas including agri robotics, enhancing farming sustainability, and planning for ever-changing conditions.”

“As farmers increasingly adopt autonomous agriculture machines to scale and increase the output of their fields, we believe quantum computing can provide the analysis, speed, and accuracy necessary to maximize production and minimize costs,” said Dr. Alan Baratz, CEO of D-Wave.

NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS

About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services. We are the world’s first commercial supplier of quantum computers, and the only company building both annealing and gate-model quantum computers. Our mission is to help customers realize the value of quantum, today. Our 5,000+ qubit Advantage^TM quantum computers, the world’s largest, are available on-premises or via the cloud, supported by 99.9% availability and uptime. More than 100 organizations trust D-Wave with their toughest computational challenges. With over 200 million problems submitted to our Advantage and Advantage2^TM systems to date, our customers apply our technology to address use cases spanning optimization, artificial intelligence, research and more. Learn more about realizing the value of quantum computing today and how we’re shaping the quantum-driven industrial and societal advancements of tomorrow: www.dwavequantum.com.

Forward Looking Statements

Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including the risks set forth under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

• Adageis closed a $2 million seed round at the end of Q4 2024 to support operational expansion, with the funding to enhance backend operations for next-generation software upgrades.
• Upgraded Electronic Health Record EHR”) connectivity will facilitate integration with over 90 EHR systems, while increased sales force investment will help accelerate growth and market adoption.
• Adageis’ AI-powered platform is designed to streamline healthcare operations, optimize provider revenue, and improve patient care outcomes.

Adageis, a forward-thinking healthcare technology company reshaping patient care through flexible AI-centric software solutions for healthcare organizations, has secured $2 million in seed financing to enhance its operations and expand its market reach. The funding, which closed at the end of Q4 2024, supports upgrades to the company’s backend infrastructure, allowing for next-generation improvements, expanded Electronic Health Record (“EHR”) system connectivity, and increased sales efforts to promote rapid growth.

With a unique offering in the healthcare space, the company’s ProActive Care Platform uses artificial intelligence to help healthcare providers shift from traditional fee-for-service models to value-based care. This transition enables organizations to reduce costs, improve patient care, and increase reimbursements by meeting key performance metrics.

A significant portion of the seed funding will be used to expand Adageis’ ability to connect with over 90 EHR systems. Seamless integration with widely used platforms like AthenaHealth, Cerner, eClinicalWorks, Allscripts, and Epic, will allow providers to implement Adageis’ technology without disrupting their workflows. The company’s flexible API enables smooth implementation and minimizes training time for healthcare professionals.

Adageis has rebranded its platform as a fintech AI solution, emphasizing its ability to simplify the complexities of insurance contracts. By doing so, providers can optimize revenue streams while ensuring high-quality patient care. The company’s technology helps healthcare organizations maximize reimbursements by aligning with value-based care metrics.

The company’s core offerings include:

• Value-Based Care Engine: A comprehensive platform designed to help healthcare organizations transition to value-based care, improving revenue while maintaining high standards of patient care.
• Patented Risk Engine (“PRE”): AI-driven analytics identify high-risk patients and care gaps, helping providers intervene earlier and reduce costs.
• Proactive Efficiency: The system continuously monitors patient health, enabling timely interventions beyond traditional office visits.
• Flexible Integration: Adageis’ technology is compatible with leading EHR systems, ensuring smooth implementation across various healthcare settings.

By leveraging AI, Adageis helps providers navigate complex insurance agreements, optimize patient care, and enhance operational efficiency. The expansion of its sales force will support the rapid adoption of its advanced technology in healthcare markets.

As value-based care continues to gain traction, Adageis’ AI-driven platform offers healthcare organizations a strategic tool to improve patient outcomes and financial performance. With its recent funding, the company is positioned to scale its impact in the evolving healthcare technology landscape.

For more information, visit the company’s website at www.Adageis.com.

NOTE TO INVESTORS: The latest news and updates relating to Adageis are available in the company’s newsroom at https://ibn.fm/Adageis

• One industry expert projects that the price of palladium could double within the next decade.
• The projected increase in palladium prices bodes well for PLG.
• To further strengthen its strategic position, PLG has been exploring opportunities to enhance its processing capabilities.

The palladium market may be poised for a transformation over the next decade, with one industry analyst forecasting a price increase. The anticipated higher price would present a promising opportunity for companies deeply invested in palladium, such as Platinum Group Metals (NYSE American: PLG) (TSX: PTM). As an emerging player in the palladium sector, Platinum Group Metals stands to benefit from favorable market dynamics, potentially enhancing its strategic positioning.

In a recent analysis, Gaius King, a seasoned industry expert, projected that the price of palladium could double within the next 10 years (https://ibn.fm/VrkbT). King attributes this optimistic forecast to several critical factors influencing both supply and demand dynamics. He emphasizes the persistent supply constraints, noting that “palladium supply is inelastic due to the metal being a byproduct of nickel and platinum mining.” This inelasticity implies that even as demand rises, increasing the supply of palladium remains challenging, thereby exerting upward pressure on prices.

On the demand side, King highlights the robust consumption of palladium in the automotive industry, particularly in the manufacturing of catalytic converters for gasoline-powered vehicles. He points out that “stringent emission regulations worldwide are compelling automakers to use more palladium to meet environmental standards.” This regulatory landscape necessitates the incorporation of higher quantities of palladium in catalytic converters to effectively reduce harmful emissions, thereby bolstering demand.

Furthermore, King discusses the limited potential for substitution as a factor sustaining palladium’s demand. While platinum can technically replace palladium in catalytic converters, he notes that “the substitution is not straightforward due to technical challenges and the current price disparity between the two metals.” This complexity in substitution ensures that palladium will remain the preferred choice for manufacturers, maintaining its demand trajectory.

King also addresses the geopolitical risks associated with palladium production, particularly considering that a significant portion of the global supply originates from Russia. He observes that “geopolitical tensions and operational challenges in these regions can disrupt supply chains,” which could further constrain supply and contribute to price volatility. These geopolitical factors underscore the vulnerability of the palladium supply chain, potentially leading to supply shocks that drive prices higher.

An increase in palladium prices would bode well for Platinum Group Metals, which has been actively advancing its strategic initiatives to capitalize on the favorable market conditions (https://ibn.fm/iAttO). Central to PLG’s operations is the Waterberg Project, located on the Northern Limb of South Africa’s Bushveld Complex. This project is envisioned as a large-scale, fully mechanized, shallow, decline-access platinum, palladium, rhodium and gold mine. Notably, the Waterberg Project is projected to be one of the largest and lowest-cost underground platinum group metal (“PGM”) mines globally, positioning PLG advantageously in the market.

In September 2024, PLG announced positive results from an Independent Definitive Feasibility Study Update (“2024 DFS”) for the Waterberg Project (https://ibn.fm/2ANg9). The study confirmed the project’s robust economic and technical viability, reinforcing its potential to become a significant source of four important elements (“4E”) – platinum, palladium, rhodium and gold. The 2024 DFS highlighted increased mineral resources, with measured and indicated resources rising by 9.5% to 33.76 million 4E ounces, and inferred resources increasing by 6.6% to 8.52 million 4E ounces. These findings underscore the project’s capacity to meet the growing demand for palladium in coming years.

To further strengthen its strategic position, PLG has been exploring opportunities to enhance its processing capabilities. In December 2023, the company entered into a Cooperation Agreement with Ajlan & Bros. Mining and Metals Co. to study the establishment of a standalone PGM smelter and base metals refinery in Saudi Arabia. This initiative aims to provide an alternative processing route for the Waterberg Project’s output, potentially enhancing the company’s operational flexibility and market reach. The proposed facility would process PGM concentrate from the Waterberg Project, offering a strategic solution to potential bottlenecks in the existing smelting infrastructure.  Exporting PGM concentrate from South Africa to Saudi Arabia would require an approval from the government of South Africa.

In summary, the projected increase in palladium prices over the next decade presents a significant opportunity for companies such as Platinum Group Metals. With its strategic assets, proactive initiatives and robust financial planning, PLG is well-equipped to benefit from the favorable market dynamics, potentially delivering enhanced value to its stakeholders.

For more information, visit www.PlatinumGroupMetals.net.

NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/PLG

• A strategic rebranding has positioned Newton Golf as a forward-thinking entity committed to enhancing golfers’ performance through meticulously engineered products.
• Central to Newton Golf’s product lineup are the Newton Gravity Putters and Newton Motion Shafts.
• The company is committed to developing tools that not only enhance performance but also make the game more enjoyable.

In the ever-evolving landscape of golf equipment, Newton Golf (NASDAQ: SPGC) has emerged as a beacon of innovation and quality. Formerly operating under the name Sacks Parente Golf, the company underwent a strategic rebranding to align more closely with its mission of integrating advanced physics principles into golf-equipment design. This transformation has positioned Newton Golf as a forward-thinking entity committed to enhancing golfers’ performance through meticulously engineered products.

The rebranding initiative was officially announced late last year, marking a significant milestone in the company’s evolution (https://ibn.fm/Y1m4p). By consolidating its putter and shaft divisions under the Newton Golf umbrella, the company signaled a unified approach to product development and brand identity. This restructuring was not merely a change in name but a reflection of Newton Golf’s dedication to creating equipment that leverages the laws of physics to benefit golfers of all skill levels.

Central to Newton Golf’s product lineup are the Newton Gravity Putters and Newton Motion Shafts (https://ibn.fm/9gDMT). The gravity putters are renowned for their ultra-low balance point (“ULBP”) technology, a feature that promotes a smoother, more controlled putting stroke. This innovation has garnered attention on professional tours, with several PGA Tour champions integrating these putters into their games. The motion shafts are designed to optimize energy transfer and enhance swing consistency, embodying the company’s commitment to precision engineering.

A cornerstone of Newton Golf’s philosophy is its dedication to domestic manufacturing. All products are proudly made in the United States, with putters manufactured in Camarillo, California, and shafts handcrafted in St. Joseph, Missouri. This commitment ensures stringent quality control and supports local economies, reinforcing the company’s ethos of integrity and excellence.

The company’s vision extends beyond product innovation, encompassing a broader mission to make golf equipment that works smarter for all golfers. By focusing on the principles of physics, Newton Golf aims to develop tools that not only enhance performance but also make the game more enjoyable. This approach reflects a modern yet timeless blend of design and functionality, appealing to both traditionalists and contemporary golfers.

In addition to product development, Newton Golf places a strong emphasis on customer engagement and education. Through its website and various media outlets, the company provides insights into equipment technology, helping golfers make informed decisions about their gear. This educational approach fosters a community of informed consumers who appreciate the nuances of golf equipment and its impact on performance.

Newton Golf’s rebranding and strategic initiatives have not gone unnoticed in the golf industry. Several reputable golf publications have featured the company’s products, giving accolades for their innovative designs and performance benefits. These endorsements serve as a testament to Newton Golf’s commitment to excellence and its role as a leader in golf-equipment innovation.

Looking ahead, Newton Golf is poised to continue its trajectory of growth and innovation. With plans to expand its product offerings and further integrate advanced technologies into its designs, the company is set to solidify its position as a pioneer in the golf-equipment industry. Golfers can anticipate new developments that align with Newton Golf’s mission to make the game more accessible, enjoyable, and rewarding.

For more information, visit www.NewtonGolfCo.com.

NOTE TO INVESTORS: The latest news and updates relating to SPGC are available in the company’s newsroom at http://ibn.fm/SPGC

• Calidi’s RTNova platform leverages engineered enveloped vaccinia viruses designed for systemic delivery.
• Calidi’s groundbreaking virotherapy holds “immense promise in revolutionizing the treatment landscape for cancer patients with advanced solid tumors,” says CEO.

Calidi Biotherapeutics (NYSE American: CLDI) is a clinical-stage biotechnology company at the forefront of developing innovative immunotherapies for cancer treatment. Most recently, the company has captured the spotlight for the development of its proprietary systemic platform, RTNova (https://ibn.fm/Z4pM3). The platform represents a significant advancement in systemic virotherapy, particularly in the utilization of enveloped virotherapies to target metastatic tumors across the body.

Antitumor virotherapy employs viruses that selectively infect and destroy cancer cells while sparing normal tissues. However, a significant challenge in the administration of these viruses is their rapid neutralization by the immune system, limiting their therapeutic efficacy.

To address this challenge, Calidi designed an innovative vaccinia virus strain enveloped with a human cell membrane (extracellular enveloped virus or EEV), providing protection in the bloodstream while targeting distant tumors (https://ibn.fm/c5fWc). Once inside the tumor, virotherapies are designed to selectively replicate and destroy tumor cells. This process activates an immune response and helps train the immune system to recognize and target future cancer cells. Additionally, the platform can target distant tumors and then act as a viral vector to deliver specific gene therapies to tumor sites.

“Calidi’s groundbreaking systemic enveloped virotherapy holds immense promise in revolutionizing the treatment landscape for cancer patients with lung cancer and metastatic advanced solid tumors,” said Allan Camaisa, Calidi Biotherapeutics CEO and board chair. “By providing protection to the virus during administration, our antitumor virotherapy is able to reach and attack the tumor sites and then activate the immune system. This is the first antitumor virotherapy with systemic administration that shows the potential for real efficacy in the clinic.”

Calidi’s innovative approach builds upon years of experience in using stem cells to protect antitumor viruses from neutralization by the patient’s immune system.

In addition to the RTNova platform, Calidi is advancing other clinical programs, including CLD-101 (NeuroNova) and CLD-201 (SuperNova), which are in various stages of development. These programs utilize stem cell–based platforms to deliver antitumor viruses, aiming to treat multiple oncology indications, such as high-grade gliomas and solid tumors. The company’s commitment to pioneering the future of cancer treatment is exemplified by its collaboration with City of Hope, where the fourth and final cohort of patients are being dosed in a phase 1 clinical trial evaluating neural stem cells carrying a tumor-killing adenovirus to treat recurrent high-grade glioma patients. Calidi also recently announced that Northwestern University commenced recruitment for a Phase 1b/2 trial using Calidi’s NeuroNova drug candidate in a multidosing strategy to treat newly diagnosed high-grade glioma.

Calidi Biotherapeutics’ dedication to harnessing the power of antitumor virotherapy positions the company as a leader in the field of cancer immunotherapy. By developing its systemic delivery mechanisms and leveraging the unique properties of enveloped viruses, Calidi is developing treatments that not only target tumors directly but also stimulate the body’s immune system to fight cancer more effectively. As its development programs progress, Calidi continues to make significant strides toward transforming the standard of care for patients with advanced and metastatic cancers.

For more information, visit www.CalidiBio.com.

NOTE TO INVESTORS: The latest news and updates relating to CLDI are available in the company’s newsroom at https://ibn.fm/CLDI

• The Q1 Virtual Investor Summit will focus on microcap companies that are undervalued, and aim to create connections between leading investors and microcap companies
• Clene’s presentation will be given by CEO Rob Etherington and CFO Morgan Brown
• Clene’s participation in the event comes as the company is moving closer to submitting a New Drug Application to the FDA to secure potential accelerated approval for CNM-Au8^® for ALS
• The company recently partnered with German-based APST Research GmbH to analyze neurofilament light chain (“NfL”) data for evaluating CNM-Au8 efficacy in ALS patients.

Clene Inc. (NASDAQ: CLNN) and its wholly owned subsidiary, Clene Nanomedicine Inc., a late clinical-stage biopharmaceutical company focused on improving mitochondrial health and protecting neuronal function to treat neurodegenerative diseases, including amyotrophic lateral sclerosis (“ALS”), and multiple sclerosis (“MS”), will attend the Q1 Virtual Investor Summit event on March 11 to showcase its latest achievements and outline the next steps for lead drug candidate CNM-Au8 (https://ibn.fm/YHqIv).

The company’s presentation will be given by CEO Rob Etherington and CFO Morgan Brown. The presentation starts at 1 p.m. ET. Anyone interested in participating can register at https://ibn.fm/7tHle.

The Q1 Investor Summit will consist of company presentations between 9 a.m. and 4 p.m. ET, along with one-on-one meetings between 8 a.m. and 4 p.m. An exclusive event for investors who specialize in small and microcap stocks, the Summit is a unique opportunity for investors to be introduced to and speak with management at some of the most attractive small companies, learn from various subject matter experts, and see what their peers are doing in this market. This quarter’s event focuses on microcap companies that are undervalued.

Clene’s participation in the event comes as the company is moving closer to submitting an NDA (New Drug Application) to the Food and Drug Administration (“FDA”) in the second half of 2025 to secure potential accelerated approval for CNM-Au8 for ALS.

CNM-Au8 is an oral suspension of gold nanocrystals designed to improve cellular energy production and utilization, which is critical for maintaining neuronal health. The drug candidate has been shown to improve central nervous system cells’ survival and function via a mechanism that targets mitochondrial function and the nicotinamide adenine dinucleotide pathway while reducing oxidative stress. By targeting mitochondrial dysfunction, CNM-Au8 can provide neuroprotection and promote remyelination.

The drug candidate has a robust safety profile and has provided evidence of survival benefit from two independent, randomized, double-blind, placebo-controlled clinical trials so far. In these two Phase 2 clinical trials, RESCUE-ALS and the HEALEY ALS Platform Trial, Regimen C, participants who were administered CNM-Au8 saw significant improvement in survival rates, delayed time to clinical worsening, and improvements on the combined assessment of function and survival compared to placebo. These results are supported by declines in the key plasma biomarker, NfL.

The company recently signed an agreement with APST Research GmbH (“APST”) to further analyze NfL data. The data will support analyses recommended by the FDA on the effects of CNM-Au8 in an additional cohort of ALS patients. Clene will use APST’s extensive dataset to compare NfL levels in NIH-sponsored Expanded Access Protocol (“EAP”) participants treated with CNM-Au8 against matched historical ALS controls. The goal is to determine if CNM-Au8 treatment reduces NfL decline, and to demonstrate that the rate of NfL change is associated with survival in the NIH-sponsored EAP ALS population, which would further strengthen Clene’s case for regulatory approval.

There is currently no cure available for ALS, and treatments can only help slow down the disease progression, manage the symptoms, and prevent unnecessary complications. CNM-Au8 can help increase and improve survival rates in ALS patients by enabling the body’s main systems, primarily breathing, to continue. An accelerated approval pathway for CNM-Au8 would offer hope and help obtain the best outcome for people living with ALS, the company believes. According to CDC statistics, approximately 5,000 Americans are diagnosed with ALS each year, and about 30,000 people are currently living with the disease in the U.S. alone (https://ibn.fm/A0t4F).

For more information, visit the company’s website at www.Clene.com.

NOTE TO INVESTORS: The latest news and updates relating to CLNN are available in the company’s newsroom at https://ibn.fm/CLNN