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Converge Bio raises $5.5M Seed to speed up drug discovery and development with Generative AI

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TEL AVIV, Israel, Nov. 20, 2024 /PRNewswire/ — Converge Bio, a generative AI platform for accelerated drug discovery and development, today announced it has raised $5.5 million in seed funding, led by TLV Partners. Converge Bio’s platform uses large language models (LLMs) trained on biological and chemical data (DNA, RNA, protein sequences, and small molecules) to help biotech and pharmaceutical companies discover and develop better-performing drugs in less time.

Developing new medications and biological products is a complex, lengthy, and costly endeavor. On average, bringing a new drug to market takes about 10 years and requires an investment of approximately $1 billion. The process is fraught with risk — 90% of candidates fail during clinical trials after significant investments have been made.

Generative AI has emerged as a powerful tool for drug discovery and development, with dozens of AI-discovered drugs currently in clinical trials. “Biological languages, like DNA and RNA, aren’t just random sequences — they have intricate structures and rules, similar to the grammar and syntax of spoken languages,” said Dov Gertz, co-founder and CEO of Converge Bio. “Just like how ChatGPT can instantly generate a string of words to answer a question, a model trained on biological data can help rapidly design optimized mRNA sequences for vaccines, cutting months or years from the process.”

Converge Bio is a generative AI hub for Biotech and Pharma, enabling the accelerated discovery and development of drugs using LLMs. The platform provides a library of foundational models across all biological languages, that can be easily enhanced and fine-tuned for specific tasks with Converge Bio’s data enrichment pipeline. Converge Bio offers a variety of generative AI-based solutions, such as engineering antibodies for improved specificity and reduced side effects, identifying novel drug targets, or designing mRNA vaccines optimized to elicit strong immune responses. Converge Bio has partnered with some of the world’s largest pharmaceutical companies, including Teva, and cutting-edge drug discovery companies like Compugen and BiomX.

“Generative AI will transform every stage of drug discovery and development and our platform is at the forefront, allowing any pharma or biotech company to easily incorporate AI within their R&D pipelines,” said Gertz. “We start by predicting biological outcomes, such as how well a potential drug might work. Then, we provide explanations for these predictions in biological terms that scientists can understand and trust. Finally, we use this knowledge to generate novel biological products, like optimized drug candidates. The models are pre-trained on vast amounts of data, so they can create significant insights even from minimal fine-tuning data.”

“At TLV Partners, we invest in bold visions, and Converge Bio’s approach to integrating generative AI into the very fabric of biology blew us away,” said Shahar Tzafrir, Managing Partner at TLV Partners. “The concept of treating biological data as a language is transformative. What truly sets Converge Bio apart is their unique ability not just to predict biological outcomes but to explain the reasoning behind those predictions in a way that scientists can trust and act upon. This platform is not just advancing drug discovery but reshaping how we understand, explain, and manipulate biology itself.”

About Converge Bio

Converge Bio was founded in 2024 by a team that brings together deep scientific and technical expertise. CEO Dov Gertz holds a master’s in bioinformatics from Tel Aviv University, where he developed a machine learning pipeline to find new types of CRISPR systems used for gene editing. His research resulted in a scientific publication with Nobel laureate professor Jennifer Doudna. CTO Oded Kalev is an ML expert who previously managed an R&D Group of 20 engineers and ML experts at the cyber security company Perception Point. As an early adopter of LLMs, Oded applied these technologies during the COVID lockdowns to analyze RNA sequences of the virus, achieving state-of-the-art results in COVID variant clustering using his own GPU at home. Chief Scientific Officer Iddo Weiner, formerly VP of research at BiomX, completed his Ph.D. in engineering and biology in just two and a half years with ten peer-reviewed papers.

Media Contact :
Lazer Cohen
lazer@cocnrete.media
347-753-8256

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SOURCE Converge Bio

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ProHance Launches AI Adoption Index to Show What AI Is Changing at Work

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November 1, 2026

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A scorecard to help organizations confirm that AI use is approved, applied to real work and producing results

SYDNEY, Nov. 2, 2026 /PRNewswire/ — ProHance, an AI-led Productivity Orchestration platform, today launched the AI Adoption Index, an AI realization scorecard that helps enterprises measure AI usage and confirm that it is on approved tools, applied to real work and turning into delivered value.

The launch comes as unmanaged AI use draws closer scrutiny. A 2026 industry study of data breaches found that incidents involving shadow AI, meaning AI tools used by employees without IT approval, accounted for 43% of all breaches, up from 20% in 2025. Among organizations reporting an AI-related security incident, 92% lacked adequate AI access controls.

Enterprises can usually see who uses AI and how much. Leadership still lacks answers on whether that use is sanctioned, whether it reaches real work, and what it produces.

For every enterprise, the AI Adoption Index lets leaders:

Map: See how AI is used across teams, from AI-Aware to AI-First.Measure: Identify which teams are behind on adoption.Mitigate: Detect shadow AI and keep a permanent audit trail.

Usage analytics stop at activity. Governance and security tools control approval and spend but cannot show whether AI changes how work gets done, and a separate set of tools tracks output shipped. The AI Adoption Index brings all three views together in one place, across every AI tool and every team.

“ProHance is envisioning to solve a critical problem of assessing AI’s impact on the workforce by helping leaders understand how to reskill and reshape their workforce with AI by measuring actual impact of AI and humans together,” said Ankur Dhingra, CEO, ProHance. “AI Adoption Index shows leaders who is using what, how deeply, at what cost, and where AI is running without approval, measured from the work itself, so they can decide where to act.”

The Index follows ProHance’s launch of its outcome measurement layer for Outsourcing Performance Management (OPM), which gives enterprises independent evidence of what their outsourced and contingent teams deliver. Across both launches, ProHance is focused on driving visibility for enterprises, so that AI-ready organizations can improve outcomes from their people and their AI together.

About ProHance

ProHance is an AI-led Productivity Orchestration platform that gives enterprises real-time visibility into productivity, operations and workforce performance.

 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/prohance-launches-ai-adoption-index-to-show-what-ai-is-changing-at-work-302925061.html

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Webull Australia doubles down on its adviser platform as Australian financial advisers face capacity squeeze

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November 1, 2026

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Webull is expanding Webull Connect with Connect AI, Iress Xplan integration and LAB Group enabled onboarding and transfersAustralian adviser platforms held more than $1.22 trillion in funds under advice in March 2026, while adviser numbers have fallen around 42 per cent since 2019The expanded platform is designed to cut administration and help advisers manage more client work

SYDNEY, Nov. 2, 2026 /PRNewswire/ — Webull Securities (Australia) Pty Ltd (“Webull Australia”), a subsidiary of Webull Corporation (NASDAQ: BULL), the owner of the Webull trading platform, has rolled out new features for Webull Connect, its portfolio management and execution platform for Australian financial advisers, as it continues to advance its offering for the advice sector.

Australia’s financial advisers serve one of the world’s largest pools of retirement savings, and demand for advice is set to grow. Investment platforms used by advisers and their clients held $1.22 trillion in funds under advice as of March 2026.

Yet the profession serving that demand is shrinking. Licensed adviser numbers have fallen 42 per cent since the start of 2019, from around 26,500 to 15,413 at the end of June 2026. With fewer advisers looking after more clients and more assets, time has become the profession’s scarcest resource, and administration is taking up much of it.

Webull Connect’s latest update is built to address that capacity squeeze. New features include:

Connect AI: an AI assistant that assists advisers with routine operational queries and accelerates report workflows, with instant portfolio insights and summaries of client position exposures rolling out in early November. Advisers can currently use up to 5,000 queries per month at no cost.Bulk Onboarding and Transfer: in collaboration with LAB Group, bulk client registration, digital onboarding and portfolio migration, with HIN transfers for multiple clients initiated and tracked in one place.Iress Xplan Integration: built in collaboration with Iress, providing streamlined client portfolio integration with Xplan to improve workflow efficiency and client management.Bulk Trade: a single entry point to build diversified portfolios across the ASX and international markets, with orders across multiple client accounts executed separately or centrally and transparent average-price allocations.Webull Trade Terminal: multi-window layouts, advanced real-time charting, deep market depth and instant hotkey routing, giving advisers the same experience as Webull traders.Webull Connect Mobile App: a new app that lets advised clients follow their portfolios, order status and market insights, with the same experience Webull’s retail clients enjoy.

“When we launched Webull Connect in February, we said international market access was the real differentiator. Since then, advisers have told us the other thing holding them back is time,” said Rob Talevski, CEO of Webull Australia. “Australia’s advice sector looks after more than a trillion dollars, with roughly half the advisers it had a few years ago. We’re doubling down on Webull Connect because we see a real opportunity to help advisers do more with less, from onboarding a new client to building a global portfolio.”

Looking ahead, Webull Australia plans to broaden the platform further with access to Japanese markets, regulated crypto and digital asset access, and US bond and fixed income access, giving advisers more of the building blocks their clients need on a single platform.

About Webull Australia

Webull Securities (Australia) Pty. Ltd. is a leading financial services provider, holding an Australian Financial Services Licence (AFSL 536980) and regulated by the Australian Securities and Investments Commission (‘ASIC’). As a trading participant of both the Australian Securities Exchange (‘ASX’) and TMX Exchange Australia (‘TMX’), and a principal member of the Stockbrokers and Investment Advisers Association, Webull strives to ensure the highest standards of service and security. Learn more at https://www.webull.com.au/institution.

About Webull

Webull Corporation (NASDAQ: BULL) owns and operates Webull, a leading digital investment platform built on next-generation global infrastructure and AI technologies. Through its global network of licensed brokerages, Webull offers investment services in 18 markets across North America, Asia Pacific, Europe, Africa, and Latin America. Webull serves more than 29 million registered users globally, providing retail and institutional investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options, futures, fractional shares, and digital assets through Webull’s trading platform, which seamlessly integrates market data and information, its user community, and investor education resources. Learn more at www.webullcorp.com. 

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SOURCE Webull Securities (Australia) Pty Ltd

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Investcorp Announces Aggregate Financial Activity for 2026 at Gateway Gulf Investment Forum

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November 1, 2026

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Global investment manager reports US$65.2 billion in assets under management and strong investment and fundraising momentum during the first nine months of 2026

MANAMA, Bahrain, Nov. 1, 2026 /PRNewswire/ — Investcorp, a leading global alternative investment manager, today announced that it recorded US$11.1 billion in aggregate activity across fundraising, capital deployment and exits during the first nine months of 2026, underscoring the continued strength and growth of its global platform.

The announcement, made at Gateway Gulf 2026 in Bahrain, highlights Investcorp’s global investment momentum and its continued commitment to the Kingdom, where it was founded in 1982.

Between January and September 2026, Investcorp raised US$4.8 billion from its global investor base, deployed US$3.7 billion in new investments and recorded US$2.6 billion in exits across its investment businesses. As of September 2026, Investcorp’s total assets under management stood at US$65.2 billion.

During the same period, Investcorp achieved significant fundraising milestones across its North America Private Equity and Strategic Capital platforms, securing more than US$2.3 billion in aggregate commitments.

Mohammed Alardhi, Executive Chairman of Investcorp, said: “Investcorp was founded in Bahrain more than four decades ago, and the Kingdom remains central to our global growth and ambitions. Our continued momentum reflects the strength of our international platform and the confidence of our investors and partners. As we look ahead, we remain committed to connecting global capital with alternative investment opportunities, embracing innovation and contributing to Bahrain’s position as a leading international financial center.”

Key Investment and Innovation Highlights

Investcorp continued to expand its international investment activities during 2026, with significant transactions and milestones across its businesses:

North American Private Equity: Invested in Berger Financial Group, a leading US wealth management platform.US Real Estate: Announced approximately US$800 million in industrial real estate transactions, including acquisitions and exits, alongside a US$200 million acquisition of senior living and multifamily properties across key US markets.Private Equity India: Acquired 20Cube 3PL Solutions, a digital-first contract logistics business, to support its expansion and build a pan-India logistics platform.Private Equity Europe: Invested in Smart Managed Solutions in the UK, and established a new software engineering growth platform with NetRom Software and Trivium Solutions, focused on AI-enabled software development. Investcorp also acquired a majority stake in Connectif, a Spanish provider of AI-powered marketing automation solutions.Private Equity GCC: Acquired a strategic stake in Metra, a regional IT distribution platform, and joined a consortium to acquire Reda Gulf Holding, a leading Saudi-based provider of fire protection, safety, security, and hazard-control solutions.Digital Innovation: Investcorp Wealth, launched in 2024 and developed by the firm’s Bahrain-based teams, has digitally enabled more than US$620 million in capital raising from clients since its launch, demonstrating its international reach and the important role of Investcorp’s Bahrain-based teams in its digital wealth management capabilities.Artificial Intelligence: Launched an AI Investment Framework to identify AI-driven investment opportunities, enhance portfolio performance and support long-term value creation.

These achievements reflect Investcorp’s ability to connect investors with opportunities across North America, Europe, the Middle East and Asia. Investcorp’s participation in Gateway Gulf 2026 reinforces its longstanding commitment to Bahrain and the Kingdom’s role as a gateway for global capital and financial innovation.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/investcorp-announces-aggregate-financial-activity-for-2026-at-gateway-gulf-investment-forum-302925792.html

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