Connect with us

Technology

Travelzoo Reports Fourth Quarter 2024 Results

Published

on

NEW YORK, Feb. 25, 2025 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO):

Revenue of $20.7 million, down 2% year-over-yearConsolidated operating profit of $4.9 million, up 8% year-over-yearNon-GAAP consolidated operating profit of $5.3 millionCash flow from operations of $7.7 millionEarnings per share (EPS) of $0.26

Travelzoo, the club for travel enthusiasts, today announced financial results for the fourth quarter ended December 31, 2024. Consolidated revenue was $20.7 million, down 2% year-over-year. In constant currencies, revenue was $20.6 million. Travelzoo’s reported revenue consists of advertising revenues and commissions, derived from and generated in connection with purchases made by Travelzoo members, and membership fees.

Net income attributable to Travelzoo was $3.2 million for Q4 2024, or $0.26 per share, compared with $0.27 in the prior-year period. Net income attributable to Travelzoo from continuing operations was $3.2 million for Q4 2024, or $0.26 per share, compared with $0.24 in the prior-year period.

Non-GAAP operating profit was $5.3 million. Non-GAAP operating profit excludes amortization of intangibles ($93,000), stock option expenses ($0.4 million). Please refer to “Non-GAAP Financial Measures” and the tabular reconciliation below.

“We will continue to leverage Travelzoo’s global reach, trusted brand, and strong relationships with top travel suppliers to negotiate more Club Offers for Club Members,” said Holger Bartel, Travelzoo’s Global CEO. “Travelzoo members are affluent, active, and open to new experiences. We inspire travel enthusiasts to travel to places they never imagined they could. Travelzoo is the must-have membership for those who love to travel as much as we do.”

Cash Position
As of December 31, 2024, consolidated cash, cash equivalents and restricted cash were $17.7 million. Net cash provided by operations was $7.7 million.

Travelzoo North America
North America business segment revenue increased 1% year-over-year to $13.9 million. Operating profit for Q4 2024 was $4.6 million, or 33% of revenue, compared to operating profit of $4.0 million in the prior-year period.

Travelzoo Europe
Europe business segment revenue decreased 13% year-over-year to $5.4 million, caused primarily by fluctuations in Germany. In constant currencies, Europe business segment revenue was $5.3 million. Operating profit for Q4 2024 was $159,000, or 3% of revenue, compared to operating profit of $832,000 in the prior-year period.

Jack’s Flight Club
Jack’s Flight Club is a membership subscription service in which Travelzoo has a 60% ownership interest. As the number of premium subscribers continues to grow, revenue increased 19% year-over-year to $1.3 million. Jack’s Flight Club’s revenue from subscriptions is recognized ratably over the subscription period (quarterly, semi-annually, annually). Non-GAAP operating profit for Q4 2024 was $208,000. Non-GAAP operating profit excludes amortization of intangibles ($58,000) related to the acquisition of Travelzoo’s ownership interest in Jack’s Flight Club in 2020.

New Initiatives
New Initiatives business segment revenue, which includes Licensing and Travelzoo META, was $19,000. Operating loss for Q4 2024 was $36,000.

In June 2020, Travelzoo entered into a royalty-bearing licensing agreement with a local licensee in Japan for the exclusive use of Travelzoo’s brand, business model, and members in Japan. In August of 2020, Travelzoo entered into a royalty-bearing licensing agreement with a local licensee in Australia for the exclusive use of Travelzoo’s brand, business models, and members in Australia, New Zealand, and Singapore. Under these arrangements, Travelzoo’s existing members in Australia, Japan, New Zealand, and Singapore will continue to be owned by Travelzoo as the licensor. Travelzoo recorded $7,000 in licensing revenue from the licensee in Japan in Q4 2024. Travelzoo recorded $12,000 in licensing revenue from the licensee in Australia, New Zealand, and Singapore in Q4 2024. Licensing revenue is expected to increase in the future.

Reach
Travelzoo reaches 30 million travelers. This includes Jack’s Flight Club. Comparisons to prior periods are no longer meaningful due to strategic developments of the Travelzoo membership.

Discontinued Operations
In March 2020, Travelzoo decided to exit its Asia Pacific business and operate it as a licensing business going forward. Consequently, the Asia Pacific business has been classified as discontinued operations.

Income Taxes
A provision of $1.5 million for income taxes was recorded for Q4 2024, compared to an income tax expense of $1.6 million in the prior-year period. Travelzoo intends to utilize available net operating losses (NOLs) to largely offset its actual tax liability for 2024.

Share Repurchase Program
During Q4 2024, the Company repurchased 135,792 shares of its outstanding common stock.

Looking Ahead
For Q1 2025, we expect revenue to increase at a higher pace. The pro rata portion of membership fee revenue will already add 5% incremental growth this quarter. This percentage is expected to increase over subsequent quarters, as membership fee revenue is recognized ratably over the subscription period, we acquire new members, and more Legacy Members become Club Members. For the whole year, we expect substantially higher revenue growth. Over time, we expect profitability to further increase as recurring membership fee revenue will be recognized.

In 2024, we introduced a membership fee for Travelzoo. Legacy Members, who joined before 2024, were exempt from the fee during 2024. Legacy Members represent more than 95% of Travelzoo’s reach. In 2025, Legacy Members continue to receive certain travel offers. But Club Offers and new benefits are only available to Club Members. We generally see Legacy Members being excited to become Club Members.

Non-GAAP Financial Measures
Management calculates non-GAAP operating income when evaluating the financial performance of the business. Travelzoo’s calculation of non-GAAP operating income, also called “non-GAAP operating profit” in this press release and today’s earnings conference call, excludes the following items: amortization of intangibles, stock option expenses and severance-related expenses. This press release includes a table which reconciles GAAP operating income to the calculation of non-GAAP operating income. Non-GAAP operating income is not required by, or presented in accordance with, generally accepted accounting principles in the United States of America (“GAAP”). This information should be considered as supplemental in nature and should not be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures reported by other companies.

Conference Call
Travelzoo will host a conference call to discuss fourth quarter 2024 results today at 11:00 a.m. ET. Please visit http://ir.travelzoo.com/events-presentations to

download the management presentation (PDF format) to be discussed in the conference callaccess the webcast

About Travelzoo
We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travelers. Club Members receive Club Offers personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with thousands of top travel suppliers—our long-standing relationships give us access to irresistible deals.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Travelzoo

Condensed Consolidated Statements of Operations

(Unaudited)

(In thousands, except per share amounts)

Three months ended

Twelve months ended

December 31,

December 31,

2024

2023

2024

2023

Revenues

$         20,678

$         21,149

$    83,902

$    84,477

Cost of revenues

2,761

2,698

10,469

10,934

Gross profit

17,917

18,451

73,433

73,543

Operating expenses:

Sales and marketing

8,256

8,496

34,466

37,774

Product development

644

580

2,407

2,113

General and administrative

4,183

4,896

18,058

18,084

Total operating expenses

13,083

13,972

54,931

57,971

Operating income

4,834

4,479

18,502

15,572

Other income (expense), net

(86)

398

588

1,541

Income from continuing operations before income taxes

4,748

4,877

19,090

17,113

Income tax expense

1,484

1,618

5,404

5,105

Income from continuing operations

3,264

3,259

13,686

12,008

Income from discontinued operations, net of tax

465

460

Net income

3,264

3,724

13,686

12,468

Net income attributable to non-controlling interest

64

5

118

102

Net income attributable to Travelzoo

$           3,200

$           3,719

$    13,568

$    12,366

Net income attributable to Travelzoo—continuing operations

$           3,200

$           3,254

$    13,568

$    11,906

Net income attributable to Travelzoo—discontinued operations

$                —

$              465

$            —

$         460

Income per share—basic

Continuing operations

$             0.27

$             0.24

$        1.08

$        0.80

Discontinued operations

$                —

$             0.03

$            —

$        0.03

Net income per share—basic

$             0.27

$             0.27

$        1.08

$        0.83

Income per share—diluted

Continuing operations

$             0.26

$             0.24

$        1.06

$        0.80

Discontinued operations

$                —

$             0.03

$            —

$        0.03

Net income per share—diluted

$             0.26

$             0.27

$        1.06

$        0.83

Shares used in per share calculation from continuing operations—basic

11,831

13,873

12,594

14,897

Shares used in per share calculation from discontinued operations—basic

11,831

13,873

12,594

14,897

Shares used in per share calculation from continuing operations—diluted

12,358

13,946

12,852

14,964

Shares used in per share calculation from discontinued operations—diluted

12,358

13,946

12,852

14,964

 

Travelzoo

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)

December 31,
2024

December 31,
2023

Assets

Current assets:

Cash and cash equivalents

$             17,064

$            15,713

Accounts receivable, net

12,825

12,965

Prepaid income taxes

736

629

Prepaid expenses and other

1,148

1,461

Total current assets

31,773

30,768

Deposits and other

374

1,115

Deferred tax assets

3,380

3,196

Restricted cash

675

675

Operating lease right-of-use assets

5,655

6,015

Property and equipment, net

423

578

Intangible assets, net

1,498

2,091

Goodwill

10,944

10,944

Total assets

$             54,722

$            55,382

Liabilities and Equity

Current liabilities:

Accounts payable

$               6,134

$              4,546

Merchant payables

16,294

20,622

Accrued expenses and other

3,404

3,658

Deferred revenue

6,545

2,044

Income tax payable

1,619

766

Operating lease liabilities

2,472

2,530

Liabilities from discontinued operations

28

24

Total current liabilities

36,496

34,190

Long-term tax liabilities

7,851

4,681

Long-term operating lease liabilities

5,646

6,717

Other long-term liabilities

376

911

Total liabilities

50,369

46,499

Common stock

118

136

Tax indemnification

(9,537)

(9,537)

Note receivable from shareholder

(1,753)

Additional paid-in capital

439

Retained earnings

14,284

19,508

Accumulated other comprehensive loss

(5,327)

(4,607)

Total Travelzoo stockholders’ equity (deficit)

(462)

4,186

Non-controlling interest

4,815

4,697

Total stockholder’s equity

4,353

8,883

Total liabilities and equity

$             54,722

$            55,382

 

Travelzoo

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(In thousands)

Three months ended

Twelve months ended

December 31,

December 31,

2024

2023

2024

2023

Cash flows from operating activities:

Net income

$            3,264

$            3,724

$   13,686

$   12,468

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

170

476

907

1,893

Stock-based compensation

405

381

1,645

1,568

Deferred income tax

(476)

159

(515)

48

Loss on long-lived assets

10

Net foreign currency effects

132

(115)

(33)

(62)

Provision of loss (net recoveries) on accounts receivable and refund reserves

(81)

(72)

40

(1,016)

Changes in operating assets and liabilities:

Accounts receivable

113

(2,231)

(145)

1,086

Prepaid income taxes

354

61

(107)

1,189

Prepaid expenses, deposits and other

319

1,603

950

3,835

Accounts payable

1,286

1,181

1,716

(523)

Merchant payables

(709)

(3,338)

(4,057)

(12,095)

Accrued expenses and other

(661)

(665)

(289)

(685)

Deferred revenue

2,767

(785)

4,557

(191)

Income tax payable

264

456

857

749

Other liabilities

507

547

1,888

2,401

Net cash provided by operating activities

7,654

1,382

21,100

10,675

Cash flows from investing activities:

Proceeds from note receivable

103

216

Purchases of property and equipment

(48)

(38)

(177)

(255)

Net cash used in investing activities

(48)

65

(177)

(39)

Cash flows from financing activities:

Repurchase of common stock

(2,324)

(5,015)

(18,929)

(16,781)

Proceeds from note receivable and account receivable from shareholder

1,920

3,000

1,753

3,000

Exercise of stock options and taxes paid for net share settlement of equity awards

(1,195)

(70)

(1,787)

(369)

Net cash used in financing activities

(1,599)

(2,085)

(18,963)

(14,150)

Effect of exchange rate on cash, cash equivalents and restricted cash

(390)

445

(605)

525

Net increase (decrease) in cash, cash equivalents and restricted cash

5,617

(193)

1,355

(2,989)

Cash, cash equivalents and restricted cash at beginning of period

12,106

16,582

16,389

19,378

Cash, cash equivalents and restricted cash at end of period

$          17,723

$          16,389

$   17,744

$   16,389

 

Travelzoo

Segment Information from Continuing Operations

(Unaudited)

(In thousands)

Three months ended December 31, 2024

Travelzoo North

America

Travelzoo Europe

Jack’s Flight Club

New Initiatives

Consolidated

Revenues from unaffiliated customers

$       13,834

$         5,508

$         1,317

$              19

$          20,678

Intersegment revenues

74

(68)

(6)

Total net revenues

13,908

5,440

1,311

19

20,678

Sales and marketing expenses

4,641

3,110

505

8,256

Other expenses

4,689

2,171

656

55

7,571

Operating profit (loss)

$         4,578

$            159

$            150

$            (36)

4,851

Other loss, net

(86)

Income from continuing operations before income taxes

$            4,765

Three months ended December 31, 2023

Travelzoo North

America

Travelzoo Europe

Jack’s Flight Club

New Initiatives

Consolidated

Revenues from unaffiliated customers

$       13,534

$         6,354

$         1,106

$            155

$          21,149

Intersegment revenues

247

(90)

(157)

Total net revenues

13,781

6,264

949

155

21,149

Sales and marketing expenses

4,899

3,111

423

63

8,496

Other expenses

4,912

2,321

745

196

8,174

Operating profit (loss)

$         3,970

$            832

$          (219)

$          (104)

4,479

Other income, net

398

Income from continuing operations before income taxes

$            4,877

Twelve months ended December 31, 2024

Travelzoo North

America

Travelzoo Europe

Jack’s Flight Club

New Initiatives

Consolidated

Revenues from unaffiliated customers

$       54,968

$       24,113

$         4,714

$            107

$          83,902

Intersegment revenues

124

(42)

(82)

Total net revenues

55,092

24,071

4,632

107

83,902

Sales and marketing expenses

19,748

12,539

1,898

280

34,465

Other expenses

19,461

8,451

2,690

337

30,939

Operating profit (loss)

$       15,883

$         3,081

$              44

$          (510)

18,498

Other income, net

588

Income from continuing operations before income taxes

$          19,086

Twelve months ended December 31, 2023

Travelzoo North

America

Travelzoo Europe

Jack’s Flight Club

New Initiatives

Consolidated

Revenues from unaffiliated customers

$       54,837

$       25,291

$         4,145

$            204

$          84,477

Intersegment revenues

1,243

(1,270)

27

Total net revenues

56,080

24,021

4,172

204

84,477

Sales and marketing expenses

22,029

13,636

1,788

321

37,774

Other expenses

18,797

9,068

2,407

859

31,131

Operating profit (loss)

$       15,254

$         1,317

$            (23)

$          (976)

15,572

Other income, net

1,541

Income from continuing operations before income taxes

$          17,113

 

Travelzoo

Reconciliation of GAAP to Non-GAAP Information

(Unaudited)

(In thousands, except per share amounts)

Three months ended

Twelve months ended

December 31,

December 31,

2024

2023

2024

2023

GAAP operating expense

$     13,083

$     13,972

$     54,931

$     57,971

Non-GAAP adjustments:

Amortization of intangibles (A)

93

389

593

1,560

Stock option expenses (B)

405

380

1,644

1,566

Severance-related expenses (C)

360

56

Non-GAAP operating expense

12,585

13,203

52,334

54,789

GAAP operating profit

4,834

4,479

18,502

15,572

Non-GAAP adjustments (A through C)

498

769

2,597

3,182

Non-GAAP operating profit

5,332

5,248

21,099

18,754

Investor Relations:
ir@travelzoo.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/travelzoo-reports-fourth-quarter-2024-results-302384633.html

SOURCE Travelzoo

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Wistron Celebrates Grand Opening of First U.S. Smart Factory Marking Milestone in Global Smart Manufacturing Strategy

Published

on

By

FORT WORTH, Texas, July 21, 2026 /PRNewswire/ — Wistron Corporation (“Wistron”) celebrated the grand opening of its D1 AI smart facility in Fort Worth, Texas, the site where the first NVIDIA GB300 Grace Blackwell Ultra Superchip was built and mass-produced in the United States. The US$ 700 million facility, spanning approximately 324,000 square foot, was officially unveiled during a ceremony led by Wistron Chairman Simon Lin and NVIDIA Founder and CEO Jensen Huang. Jessica Rogers, Director of the Economic Development Department for the City of Fort Worth, and Alexander Tah-ray Yui, Taiwan’s Representative to the United States, were among the government officials and business leaders who attended, marking a milestone in the expansion of Wistron’s global footprint and advanced manufacturing capabilities.

This is a key hub in Wistron’s global AI infrastructure manufacturing network. The facility runs on NVIDIA accelerated computing and integrates NVIDIA’s Nemotron and Cosmos open frontier models and Omniverse and Metropolis libraries, using digital twin technology to optimize factory design, production workflows, and operational efficiency. It is Wistron’s first U.S.-based manufacturing facility, established to serve customers locally and produce NVIDIA’s most advanced and cutting-edge products. Wistron Chairman Simon Lin said “The operation here is not typical manufacturing. It is new, very comprehensive, and high-tech. Right now we produce the NVIDIA GB300 Grace Blackwell Ultra Superchip, and beyond, we are also going to produce the NVIDIA Vera Rubin Superchip here. In the next couple of years, this location will be one of the most important, as we build AI infrastructure here in the United States. I think this is the reason we say that there will be the next chapter, and we are going to empower AI from Texas.”

Responding to Customer Needs: Texas, the Newest Global Manufacturing Hub
At this pivotal moment for global AI infrastructure, Wistron is drawing on decades of global manufacturing experience to expand its footprint in Texas, a state with a well-established ecosystem for logistics, talent recruitment, and advanced manufacturing. The new D1 facility produces the NVIDIA GB300 Grace Blackwell Ultra Superchip and soon, the NVIDIA Vera Rubin Superchip — critical to powering the next generation of AI computing. The new Fort Worth facility strengthens a critical upstream layer of the AI infrastructure supply chain by expanding domestic capacity to assemble and test NVIDIA AI systems. These servers can be integrated into NVIDIA DSX infrastructure, with DSX providing the common architecture and technologies needed to deploy and operate energy-efficient AI factories at scale.

One-Stop Operational Ecosystem Strengthens U.S. AI Supply Chain Resilience
Behind every breakthrough in AI computing lies the manufacturing capability to scale it. Wistron is expanding its AI server production capabilities from Taiwan to the United States, guided by a vision of precision, efficiency, and sustainability. This reflects a broader industry shift: AI leadership is determined not only by technological breakthroughs, but also by the operational capability to transform innovation into high-volume production with consistent quality, supply chain resilience, and predictable delivery. By establishing AI infrastructure manufacturing capacity in the United States, Wistron is building a one-stop operational ecosystem spanning manufacturing and after-sales service — shortening delivery timelines and customer support cycles, strengthening supply chain resilience, and laying the foundation for long-term competitive advantage as AI infrastructure continues to scale.

Partnering with NVIDIA to Pioneer a New Model for Smart Manufacturing and Energy Optimization
As the era of physical AI begins, Wistron is extending its smart manufacturing capabilities to the United States, creating a new model for AI infrastructure production built on digital manufacturing, energy optimization, and local operations. Jensen Huang said: “The largest infrastructure buildout in history is underway. Demand for AI factories—the engine of this next industrial revolution—is incredible, and they must be produced everywhere. Together, NVIDIA and Wistron are restoring US advanced manufacturing capacity in Texas, creating skilled jobs and strengthening America’s AI supply chain.” As demand for advanced manufacturing grows in Texas, smarter planning of production loads and energy use will give the plant greater control and flexibility over its electricity needs.

Turning Global Experience into Scalable AI Infrastructure
Simon Lin stressed that the speed the AI era demands comes with its own responsibility. “In the AI era, the pressure of speed is also a form of responsibility,” Lin said. “We don’t just need to build fast; we need to build right.”

The Fort Worth plant will serve as the core engine of Wistron’s U.S. manufacturing operations, the company said, connecting its global production network with ecosystem partners as it scales advanced AI manufacturing. Wistron said that the investment reflects efforts to deepen its technical capabilities, strengthen the resilience and efficiency of global supply chains, and support the next phase of AI infrastructure development.

About Wistron:
Wistron Corporation is a leading global technology service provider delivering advanced ICT products, AI infrastructure, and manufacturing solutions to technology brands worldwide. With more than 63,000 employees across North America, Europe, and Asia, Wistron continues to expand its AI, cloud, and advanced manufacturing capabilities to support the next generation of intelligent computing. For more information about Wistron, please visit the official website at www.wistron.com. Additional information about the event is available on the event website.

Media Contact:
Joyce WL Chou
joyce_wl_chou@wistron.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/wistron-celebrates-grand-opening-of-first-us-smart-factory-marking-milestone-in-global-smart-manufacturing-strategy-302831439.html

SOURCE Wistron Corporation

Continue Reading

Technology

NSG Bio Accelerates Breakthrough Biotech Innovation in Singapore

Published

on

By

New initiative under NSG Bio Tomorrow will support promising startups developing next-generation approaches in respiratory and neonatal care

SINGAPORE, July 22, 2026 /PRNewswire/ — The NSG Bio Tomorrow initiative aims at supporting emerging life sciences startups working on complex challenges in respiratory and neonatal care.

Launched through the support of Chiesi Group, The Impulse initiative will provide a selected startup with one year of NSG Bio membership and access to a dedicated laboratory bench at NSG Bio Singapore. The initiative is designed to help early-stage biotech companies move from promising science toward stronger proof-of-concept work in a fully equipped research environment.

The initiative comes at a time when the biotech industry is increasingly looking for faster, more connected ways to move high-potential science from the lab toward real-world patient impact. For startups, access to infrastructure is only one part of the challenge. Equally important are the right networks, industry visibility, technical environment, and opportunities to engage with partners who understand the path from early discovery to clinical relevance.

The programme will focus on startups developing innovative biotechnological solutions with potential relevance to chronic respiratory diseases and neonatal conditions. Areas of interest include cell therapies, gene therapies, gene-editing technologies, regenerative tissue engineering, engineered or programmable living systems, lung-targeted delivery platforms, preventive approaches, and small-molecule-based approaches.

The selected startup will gain access to NSG Bio’s laboratory infrastructure, shared workspaces, meeting facilities, and wider community of biotech entrepreneurs, researchers, scientific leaders, and industry partners. The support is intended to help the company advance key research milestones while becoming part of Singapore’s growing life-science innovation ecosystem.

For NSG Bio, the initiative is part of NSG Bio Tomorrow, its ecosystem-building arm created to expand the company’s role beyond facilities and real estate. While NSG Bio is known for providing high-quality laboratory and office infrastructure for biotech companies, NSG Bio Tomorrow focuses on building the programmes, partnerships, and opportunities that help startups grow.

“Biotech companies need more than lab space. They need access, momentum, and the right ecosystem around them,” said Hasyim Sim, Co-Founder and Chief Operating Officer, NSG Bio. “Through NSG Bio Tomorrow, we are building initiatives that help promising startups connect with partners, unlock opportunities, and move their science forward. This initiative reflects exactly the kind of role we want to play in the biotech ecosystem.”

“Chiesi is committed to supporting innovation that can make a meaningful difference for patients, and we work with entrepreneurs, researchers and partners to advance meaningful ideas,” said Fabrizio Conicella, Vice President, Center of Open Innovation & Competence at Chiesi Group. “By supporting this NSG Bio Tomorrow initiative, we want to create an opportunity for early-stage innovators to access the infrastructure and ecosystem support needed to develop impactful science in respiratory and neonatal care.”

NSG Bio Tomorrow programme also reinforces Singapore’s position as a growing hub for biotech innovation in Asia, where startups, research institutions, investors, and industry partners are increasingly coming together to support the next generation of healthcare companies.

Applications open on 22 July 2026 at 09:00 a.m. SGT. Finalists will be invited to present at a virtual pitch event, after which the selected startup will be announced.

About NSG Bio

NSG Bio is Singapore’s leading provider of BSL-2 certified co-working laboratory and office spaces, supporting life-science companies from early research through growth. Through its facilities, community, and ecosystem initiatives, NSG Bio enables biotech innovators to accelerate research, access networks, and build companies that address critical healthcare challenges.

About NSG Bio Tomorrow

NSG Bio Tomorrow is NSG Bio’s ecosystem-building arm, created to support the next generation of biotech innovation through partnerships, programmes, community initiatives, and opportunities that extend beyond physical laboratory infrastructure. Its mission is to strengthen the biotech industry by connecting startups with the resources, expertise, and networks they need to thrive.

About Chiesi Group 

Chiesi is a research-oriented international biopharmaceutical group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. The company’s mission is to improve people’s quality of life and act responsibly towards both the community and the environment. As a certified B Corp since 2019, Chiesi is part of a global community of businesses that meet high standards of social and environmental impact. 

With 90 years of experience, Chiesi is headquartered in Parma (Italy), with 31 affiliates worldwide, and counts more than 7,900 employees. The Group’s research and development centre in Parma works alongside 6 other important R&D hubs in France, the US, Canada, China, the UK, and Sweden. For further information please visit https://www.chiesi.com/en/home 

Media Contact
Giridharan
Laboratory Manager
NSG Bio
giridharan@nsgbio.com
87797175

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/nsg-bio-accelerates-breakthrough-biotech-innovation-in-singapore-302830494.html

SOURCE NSG Bio

Continue Reading

Technology

House Judiciary Committee Passes Bill that Would Prevent Future Immigration Crises: Swift Action Needed by Full House, Says FAIR

Published

on

By

WASHINGTON, July 21, 2026 /PRNewswire/ — Today, the House Judiciary Committee passed an updated version of H.R. 2, the landmark border security bill from last congressional session. The bill now awaits consideration by the full House of Representatives. The Federation for American Immigration Reform (FAIR) urges Speaker Mike Johnson to schedule a final floor vote as soon as possible.

The Secure Border Act systematically closes the loopholes that allowed the Biden administration to unleash the largest and most damaging wave of illegal immigration in American history. Enactment of this legislation would prevent future anti-borders administrations from shirking their responsibilities to secure our borders and enforce our immigration laws; asserting unlimited discretion to parole inadmissible aliens to enter the country; or releasing millions of illegal aliens into the country, rather than detaining them or returning them to the country from which they entered.

“We congratulate the Judiciary Committee for its swift action on this critical legislation,” said Dale Wilcox, executive director and general counsel of FAIR. “Ending border chaos and rampant illegal immigration was a key reason that Republicans regained control of the White House and both chambers of Congress in the last election. The clock is ticking on the 119th Congress, and Republicans only have a short time to deliver on the promises they made to voters in 2024, before the midterms.

“Right now, our immigration laws are being enforced in the interests of the American people. As the last administration demonstrated, enforcement of those laws is not guaranteed unless Congress acts to prevent similar abuse in the future. Now is the time for decisive action in the House, where this bill can be passed with a simple majority vote, and an opportunity for Senate Majority Leader John Thune to put every member of that body on record before voters go to the polls in the fall,” Wilcox concluded.

Hayley Hill, hhill@fairus.org 202-328-7004

View original content to download multimedia:https://www.prnewswire.com/news-releases/house-judiciary-committee-passes-bill-that-would-prevent-future-immigration-crises-swift-action-needed-by-full-house-says-fair-302831443.html

SOURCE Federation for American Immigration Reform (FAIR)

Continue Reading

Trending