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University of Maryland, Baltimore and University of Maryland, College Park Announce $10 Million Joint Gift from Edward and Jennifer St. John and the Edward St. John Foundation for New Center for Translational Engineering and Medicine

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Philanthropic investment to fuel innovation, collaboration and accelerated tech transfer to improve human health in Baltimore and beyond 

COLLEGE PARK, Md., Jan. 10, 2025 /PRNewswire/ — The University of Maryland, Baltimore (UMB) and the University of Maryland, College Park (UMCP) are pleased to announce a $10 million joint gift from Edward and Jennifer St. John and the Edward St. John Foundation. This landmark investment will launch the Edward & Jennifer St. John Center for Translational Engineering and Medicine (CTEM), a collaboration between the University of Maryland School of Medicine (UMSOM) at UMB and the A. James Clark School of Engineering at UMCP. Together, researchers from these distinct disciplines will tackle a broad spectrum of generational health challenges and drive medical innovations that benefit patients in Maryland and beyond. 

Occupying the fourth floor of 4MLK — a new state-of-the-art facility in the University of Maryland BioPark in Baltimore — the Edward & Jennifer St. John Center for Translational Engineering and Medicine will foster face-to-face collaboration among clinicians and engineers as they develop next-generation medical solutions. Their proximity will ensure that the real-world medical needs of healthcare professionals and patients directly inform the development of devices, diagnostics and treatments, and accelerate the pathway from research to patient care. 

“This significant gift allows us to unite the expertise of UMB’s clinicians with the engineering ingenuity of UMCP’s faculty, who together will discover innovative treatments and breakthrough technologies that simply cannot emerge when each works in isolation,” said UMB President Bruce E. Jarrell, MD, FACS. “This synergy opens exciting new possibilities for translating research into tangible solutions that will address today’s most pressing health challenges.”

“This collaboration will be one of the premier partnerships in the country that fully bridges the gap between engineering and medicine to rapidly accelerate solutions on public health, disease and wellness,” said UMCP President Darryll J. Pines, PhD, MS. “Whether it is the invention of new devices and instruments or improved analysis, this center will be leading the way in advancing how clinicians work and how patients heal.” 

Edward St. John graduated from UMCP with an engineering degree and went on to become a noted Baltimore-based business leader and philanthropist. He previously gave $10 million to help build the Edward St. John Learning and Teaching Center, a 187,000-square-foot facility that fosters student-centered learning on the College Park campus. This new gift will establish endowed and current-use professorships in bioengineering, undergraduate and graduate student awards in translational engineering and medicine, and ongoing operating funds for the center.  

He has long championed UMB’s mission to improve the human condition and serve the public good through research, healthcare innovation and education. Building on his early $1 million gift to support the R Adams Cowley Shock Trauma Center and his ongoing commitment to UMB’s CURE Scholars Program, St. John pledged another $1 million in 2021 to establish a Clinical Stem Cell Laboratory at the University of Maryland Medical Center. This newest contribution underscores his and Jennifer St. John’s enduring dedication to improving lives and fueling scientific progress across the state.

“It is our great pleasure to support this transformational, lifesaving and life-altering work, knowing that our contribution helps pave the way for groundbreaking discoveries that will improve and extend lives for years to come,” said Jennifer St. John. 

“The Edward and Jennifer St. John Center for Translational Engineering and Medicine — where diverse minds unite, each contributing their unique expertise, pushing the boundaries of what’s possible in medicine,” added Edward St. John. 

Born out of Edward St. John’s commitment to giving back, the Edward St. John Foundation operates on the belief that education has the power to transform lives and provides the foundation for success. Over the years, it has provided financial assistance for educational programs across Maryland and beyond.

Sharon Akers, president of the Edward St. John Foundation, said, “The Edward and Jennifer St. John Center for Translational Engineering and Medicine will provide transformative solutions that will revolutionize healthcare and save lives. It will drive groundbreaking innovation and serve as a platform for recruitment and retention, attracting the best and brightest talent right here to the University of Maryland.”

CTEM is led by Giuliano Scarcelli, PhD, co-director and associate professor in the Fischell Department of Bioengineering in the A. James Clark School of Engineering at UMCP, and Osamah J. Saeedi, MD, clinical co-director and professor of ophthalmology and visual sciences at UMSOM. Their collaborative work using cutting-edge ophthalmologic imaging to address ocular diseases such as glaucoma exemplifies the center’s mission of fostering cross-campus partnerships in the development of interventions that improve patients’ lives.

“Engineers are stewards of technological innovations for the public good, proudly creating and collaborating to improve the human condition. By embedding engineers with doctors, we will improve diagnostics tools, disease treatment and ultimately patient care — helping people live healthier lives,” said Samuel Graham, Jr., PhD, MS, dean of the A. James Clark School of Engineering. “We look forward to the CTEM and its associated educational programs growing the long-standing partnership between the UMSOM and the Clark School’s Fischell Department of Bioengineering, one of the most prestigious bioengineering programs in the country.” 

Scarcelli and Saeedi’s trailblazing research in glaucoma illustrates how the center will cultivate new possibilities across bioengineering and medicine. Building on these breakthroughs, the center will expand into diverse areas of translational science, encouraging broader collaborations that accelerate discovery and improve patient outcomes well beyond eye care. 

 “We are profoundly grateful to Ed and Jennifer St. John for their leadership and commitment to pioneering the next generation of biomedical technology and innovation,” said Mark T. Gladwin, MD, dean of UMSOM. “This new center marks the beginning of a new era in biomedical innovation – a bold vision to break down traditional educational and research silos and create a dynamic ecosystem where engineers and medical professionals work hand-in-hand to solve some of the most pressing health challenges of our time. Imagine a future where biomedical engineers and physician-scientists work together to engineer and rebuild new organs, and use artificial intelligence, wearable devices and robotics to diagnose and treat diseases in the home.”

The 35,000 sq. ft. facility occupies the entire fourth floor of 4MLK and was custom designed by UMSOM to facilitate collaboration between UMB and UMCP researchers. State-of-the-art equipment and easy access to UMB’s core labs and facilities will allow researchers to iterate their ideas as they develop potential new products. 

Its location in 4MLK, the most recent addition to UMB’s 14-acre BioPark, places the center at the heart of a thriving biomedical innovation hub that is transforming Baltimore’s biotechnology landscape. By fostering groundbreaking research and cross-disciplinary collaboration, the center will not only advance medical science but also reinforce the critical role of the biotechnology sector in driving economic growth and scientific progress throughout Baltimore and the greater region. 

“We are thrilled to have the Edward & Jennifer St. John Center for Translational Engineering and Medicine locate in 4MLK,” commented Jim Hughes, chief enterprise and economic development officer and senior vice president at UMB and president of the BioPark. “In addition to providing cutting-edge facilities for life and health science innovation, one of the BioPark’s core missions is to create connection that further strengthens Baltimore’s thriving life science industry. CTEM researchers will join a vibrant, collaborative community in the BioPark and be well-supported as they advance their innovative health care technologies.” 

NOTE TO EDITORS/REPORTERS: Photos, b-roll and additional information will be available here following the ceremony.

ABOUT THE UNIVERSITY OF MARYLAND, BALTIMORE 

The University of Maryland, Baltimore (UMB) was founded in 1807 as the Maryland College of Medicine, which now stands as the nation’s oldest public medical school. In response to growing social and cultural needs, UMB’s mission has evolved and grown tremendously. Widely recognized as a preeminent institution, UMB serves as the academic health, law, and social work university of the University System of Maryland, and is guided by a mission of excellence in education, research, clinical care, and public service. 

UMB is a thriving academic health center combining cutting-edge biomedical research, exceptional patient care, and nationally ranked academic programs. With extramural funding totaling $682 million in Fiscal Year 2021, each tenured/tenure-track faculty member generates an average of $1.5 million in research grants each year. The 3,123 faculty members conduct leading-edge research and develop solutions and technologies that impact human health locally and around the world. World-class facilities and cores, as well as interprofessional centers and institutes, allow faculty to investigate pressing questions in a highly collaborative fashion. As a result, the more than 7,200 students, postdocs, and trainees directly benefit from working and learning alongside leading experts as they push the boundaries of their fields. For a listing of the organized research centers and institutes, visit: https://www.umaryland.edu/research/umb-research-profile/research-centers-and-institutions/ 

ABOUT THE UNIVERSITY OF MARYLAND, COLLEGE PARK 

The University of Maryland (UMD) is the state’s flagship university and a leading public research institution, propelled by a $1.3 billion joint research enterprise. Located four miles from Washington, D.C., the university is dedicated to addressing the grand challenges of our time and is the nation’s first Do Good campus. It is driven by a diverse and proudly inclusive community of more than 50,000 fearless Terrapins. UMD is a top producer of Fulbright scholars and offers an unparalleled student experience with more than 300 academic programs, 25 living-learning programs and 400 study abroad programs. Spurred by a culture of innovation and creativity, UMD faculty are global leaders in their field and include Nobel laureates, Pulitzer Prize winners and members of the national academies. For more information about the University of Maryland, visit umd.edu. 

ABOUT THE EDWARD ST. JOHN FOUNDATION 

The Edward St. John Foundation provides financial assistance to formal educational programs with a primary focus on schools and medical institutions. Over the years, more than $65 million has been contributed, pledged and gifted through donations by the Foundation, Edward St. John and St. John Properties to more than 750 organizations. The Foundation is funded through 7.5% of the annual net income of St. John Properties. The mission is based on the belief that the transformative powers of education can change lives and strengthen communities. 

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SOURCE University of Maryland

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Ascendion Expands AI Advisory Community with Four Global Business and Technology Leaders

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Former Global CTO of Banco Santander, former Group CIO of Currys, former CEO of IBPAP, and former Microsoft CVP and CTO of AI join the advisory community

Advisors will provide guidance on AAVA platform innovation, AI strategy, C-suite alignment, and enterprise adoption across Asia-Pacific, Europe, North America, and the UK

The growing community of advisors will bring practitioner perspective closer to Ascendion as enterprises move AI from experimentation to governed, production-scale outcomes

BASKING RIDGE, N.J., Oct. 27, 2026 /PRNewswire/ — Ascendion, an AI-native software engineering company, today announced the appointment of four global business and technology leaders to its AI Advisory Community: Andy Gamble, Jack Madrid, Julieta Ross, Ph.D., and Joseph Sirosh, Ph.D. 

The advisors bring perspectives rarely found in one group: executives who answered to Boards, regulators, and C-suites for what technology actually delivered; a builder of AI and data platforms at global scale; and a leader who shaped one of the world’s largest technology-services and talent ecosystems. Their experience spans banking, high-tech, media, and retail. Each will work directly with Ascendion’s regional and engineering leaders, so their counsel reaches the decisions it is meant to shape. 

“We are changing how software gets built. Enterprise leaders have moved past experiments. They want AI that delivers outcomes boards can measure and risk they can manage. Andy, Jack, Julieta, and Joseph have the experience and know where transformation succeeds. They will challenge our thinking, raise our ambition, and help us navigate a period of intense — and exciting — change,” said Karthik Krishnamurthy, CEO, Ascendion. 

Each advisor will map to a different part of the business, strengthening Ascendion’s alignment with leadership communities across the globe. 

Julieta Ross, Ph.D., former Global CTO of Banco Santander, brings two decades of leading technology inside global banks, along with public-company board experience. She will work with Ascendion’s leadership on executive relationships, go-to-market strategy, and growth, and will help the company meet the governance, regulatory, and risk expectations that banking and financial services leaders place on AI. Andy Gamble, former Group CIO of Currys plc, has spent nearly three decades as a technology buyer and transformation leader across consumer electronics, industrial, and retail businesses. He will advise Ascendion’s work across Europe and the UK, with a focus on consumer goods, manufacturing, and retail, and will share what executive teams and Boards expect from a technology partner. Joseph Sirosh, Ph.D., former Microsoft CVP and CTO of AI, has spent his career building and scaling machine learning platforms in the high-tech industry. He will advise Ascendion’s engineering leadership on the evolution of AAVA and its broader platform strategy as AAVA becomes an orchestration and harness layer for enterprise AI. Jack Madrid, former President and CEO of IBPAP, spent five years leading the industry association behind one of the world’s largest technology and business-services ecosystems, centered in the Philippines. He brings robust experience working across industries, including banking, high-tech, and media, and will advise Ascendion on Asia-Pacific markets and on how AI is reshaping global delivery, skills, and workforce models. 

Together, the advisors give Ascendion an outside perspective on the full spectrum of enterprise AI, from agentic platform strategy and product engineering to industry alignment and delivery. They will add capacity to Ascendion’s ongoing work on AI governance, helping ensure trusted impact from AI-native software engineering, and their practice-based insight will inform how Ascendion applies its Engineering to the Power of AI™ approach to commercial models, platform design, service execution, and workforce development. 

About Ascendion

Ascendion is a global AI-native software engineering company delivering trusted business outcomes – capital unlock, innovation velocity, lower risk – to 250+ enterprise clients. The company delivers business outcomes at scale by combining expert engineers, AI agents, and AAVA, Ascendion’s agentic AI platform. Together, they design, engineer, and operate production-ready software that improves everyday work and life. Learn more at www.ascendion.com.

Engineering to the Power of AI™, Engineering to Elevate Life™, and AAVA™ are trademarks or service marks of Ascendion. AAVA™ is pending registration. Unauthorized use is strictly prohibited.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/ascendion-expands-ai-advisory-community-with-four-global-business-and-technology-leaders-302921368.html

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AvePoint Set to Join S&P SmallCap 600

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NEW YORK, Oct. 27, 2026 /PRNewswire/ — AvePoint Inc. (NASD: AVPT) will replace LXP Industrial Trust (NYSE: LXP) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, November 2. Brookfield Asset Management Ltd. and Canada Pension Plan Investment Board are acquiring LXP Industrial Trust in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date

Index Name

Action

Company Name

Ticker

GICS Sector

Nov 2, 2026

S&P SmallCap 600

Addition

AvePoint

AVPT

Information Technology

Nov 2, 2026

S&P SmallCap 600

Deletion

LXP Industrial Trust

LXP

Real Estate

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/. 

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/avepoint-set-to-join-sp-smallcap-600-302921327.html

SOURCE S&P Dow Jones Indices

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Archera Surpasses $5.6 Billion in Cloud and AI Spend Under Management, Closes Series C Led by Pivot Investment Partners, and Expands Insurance-Backed Cloud Commitments

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The round will help Archera expand its guaranteed cloud commitments, bringing insurance-backed financial protection to companies navigating unpredictable AI and cloud spending. The company has delivered more than $700 million in customer savings and now manages approximately $5.6 billion in annual cloud and AI spend.

BELLEVUE, Wash., Oct. 27, 2026 /PRNewswire/ — As artificial intelligence makes cloud spending harder to predict, companies face an increasingly expensive choice: commit to long-term cloud and AI contracts to unlock significant discounts or preserve flexibility and leave savings on the table. Archera has raised a $15 million Series C to expand its Guaranteed Commitments and change that equation.

The cloud economics company today announced it closed its Series C funding round, led by Pivot Investment Partners, with participation from existing investors including HighSage Ventures. The financing brings Archera’s total funding to $38.3 million. It will support the expansion of Archera’s Guaranteed Commitments and its suite of free cloud cost tools, including its FinOps Agent and MCP.

Insurance-backed financial protection is central to Archera’s next phase of growth. Archera purchased a policy on a surplus lines basis from Crum & Forster Specialty Insurance Company to back its guarantee. This model helps businesses pursue cloud commitment savings while managing the financial risk of usage changes.

The company has delivered more than $700 million in savings to over 2,200 organizations, including PubNub, Art.com, and Astronomer. The thesis behind Archera is simple: companies shouldn’t have to predict AI’s future to commit and save money on today’s infrastructure.

Why Cloud and AI Commitments Need to Change

Cloud providers reward customers who commit to spending over one- to three-year periods with substantial discounts and access to capacity. Historically, those commitments have helped businesses reduce infrastructure costs. But AI is changing the risk and economics of that decision.

A new model launch can multiply GPU spending in months. A more efficient model, a shift in architecture, or a move to a different service can reduce it just as quickly. Long-term commitments that once looked financially sound can become expensive liabilities.

Companies are left choosing between overcommitting and risking unused spend, or undercommitting and missing out on available discounts. Many choose the latter, sacrificing potential savings to preserve flexibility.

Archera believes that the trade-off is unnecessary. Its Guaranteed Commitments provide resource-level cloud and AI discounts with terms as short as 30 days. If usage declines and a covered commitment goes unused, Archera covers the cost under the terms of its guarantee.

The result is a different way to approach cloud purchasing. Businesses can pursue deeper discounts and unlock capacity otherwise gated behind a commitment, without bearing the entire financial consequence when actual usage diverges from forecasts.

Turning Cloud Optimization Into a Financial Product

Traditional cloud cost management tools provide visibility, recommendations, automation, and forecasting, but they can’t eliminate the financial risk of unused commitments. Archera combines its free FinOps platform and Agent with a financial guarantee that addresses inaccurate forecasts.

“Every tool in this market is trying to forecast your cloud usage a little better. We think that’s the wrong bet,” said Aran Khanna, co-founder and CEO of Archera. “Nobody can forecast AI demand, not the customer, not the cloud provider. So instead of predicting it, we guarantee it, and we have purchased an insurance policy to back that guarantee. If covered usage drops, we address the unused commitment cost under the terms of our guarantee. That’s a new way to purchase cloud, not another dashboard, and it’s why we’ve been able to return $700 million to our customers.”

The approach positions cloud commitments as a financial risk decision, helping finance and engineering leaders manage budgets while adapting to changing technology.

Built for CFOs, CTOs, and the Teams Managing AI Costs

The approach addresses a growing challenge across finance and engineering: how to control infrastructure costs without constraining the business.

For CFOs: Capture commitment-level discounts while reducing exposure to eligible unused spend under the guarantee.For CTOs and engineering leaders: Preserve flexibility to adopt new AI models, change architectures, and scale workloads without letting past commitments dictate future decisions.For FinOps teams: Increase commitment coverage with a financial backstop when usage changes, without more back-and-forth with engineering teams to get perfect forecasts.For cloud partners and resellers: Give customers a differentiated way to pursue cloud savings that can be reinvested in new cloud services while managing commitment risk.

Archera’s platform connects to AWS, Microsoft Azure, or Google Cloud billing data in read-only mode and analyzes actual usage. It then recommends and automates the purchasing of both native commitments and Archera Guaranteed Commitments.

Customers can evaluate their potential savings before making any purchasing decision. Commitments remain in the customer’s own cloud account, preserving end-to-end control over cloud purchasing strategy.

Archera earns when customers save through its guaranteed commitments, aligning its commercial model with the outcomes customers seek.

Customers Are Rethinking the Commitment Model

For organizations accustomed to treating cloud commitments as a single, high-stakes decision, Archera offers a more flexible approach.

“Working with Archera meant rethinking commitments as a spectrum rather than a single, high-stakes decision,” said James Hamilton, VP of Operations and Controller at PubNub. “This was a big mind shift for us. We needed to think about how our commitments could be broken up into a spectrum of purchases versus a single one-time buy.”

That flexibility is particularly valuable as companies adopt AI workloads, where technology choices and resource requirements can shift faster than traditional budgeting cycles.

Instead of making one large bet on future usage, businesses can take a more measured approach while still securing meaningful discounts.

A Series C to Expand Insurance-Backed Cloud Purchasing

Archera has been operating profitably at scale. It raised a Series C to support larger guarantees, expand its reach, serve more customers, and upgrade the insurance policies backing its guarantee to serve larger global clients.

The company plans to use the capital in three ways:

Accelerate go-to-market efforts.Expand its global partner network across North America, Europe, the Middle East, Japan, and Latin America.Serve more teams focused on AI-driven workloads.

“Archera has built a capital-efficient and differentiated business at the intersection of cloud infrastructure and risk management,” said Dinkar Jetley, co-founder and managing partner at Pivot Investment Partners. “The team pairs a deep understanding of the cloud ecosystem with a rigorous approach to underwriting, and the result is a compelling value proposition that a fast-growing roster of customers relies on as their cloud spend scales. We are privileged to have led this Series C round and look forward to working closely with Aran and the management team in the years ahead.”

Built by People Who Understand Cloud Infrastructure

Aran and Nikhil Khanna founded Archera in 2019. Aran previously planned capacity for Azure’s core compute and database services at Microsoft and was a founding member of AWS’s deep learning team leading launches, including SageMaker, DeepLens, and the Neuron SDK, behind Amazon’s Trainium and Inferentia AI chips.

His research on deep learning model efficiency has been cited more than 1,900 times, and he serves on the FinOps Foundation governing board.

As AI transforms infrastructure economics, Archera aims to make cloud savings more accessible without forcing businesses to assume unnecessary financial risk.

To explore potential savings, request a free assessment at Archera.ai.

Free savings assessment: https://app.archera.ai/savings-estimate?utm_source=forbes&utm_medium=referral&utm_campaign=series-c-2026

Name: Sarah
Email Address: shiara@archera.ai
Phone Number: +13018255007

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SOURCE Archera

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