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Persist AI Launches Cloud Lab to Accelerate Pharmaceutical Formulation Development, Raises $12M Series A Funding

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AI-driven robotics platform reduces drug formulation development time from years to months

SACRAMENTO, Calif., May 19, 2025 /PRNewswire/ — Persist AI, a pioneer in AI-driven robotics for pharmaceutical formulation development and Chemistry, Manufacturing, and Controls (CMC), today announced the launch of its innovative Cloud Lab platform following the successful closure of an oversubscribed $12 million Series A financing round. The new platform allows pharmaceutical companies to develop formulations using Persist AI’s state-of-the-art robotic laboratory facilities through a website, dramatically accelerating drug development timelines while using a fraction of the materials required by traditional methods.

The funding round was led by Spero Ventures with participation from MBX Capital, Shimadzu Future Innovation Fund managed by Global Brain Corporation, Eli Lilly & Company, SignalFire, Ford Street Capital, Purdue Ventures, Good AI Capital, Cartography Capital, Asymmetry Ventures, and existing investors 2048 Ventures, Innospark, and YCombinator.

“Every drug that reaches the market depends on an optimal formulation. While the industry has heavily invested in AI and predictive tools across the drug development pipeline, formulation has remained a blind spot—until now.” said Sara Eshelman, General Partner at Spero Ventures. “Persist dramatically reduces both the time and cost at every stage of development, ultimately lowering the hurdle for investment in next-generation therapeutics like long-acting injectables.”

Predict the ideal formulation with Persist’s AI models

Persist AI’s technology enables pharmaceutical companies to predict formulation recipes and performance using sophisticated AI models and subsequently build and test them using robotic systems. In a recent project with a major pharmaceutical client, Persist AI demonstrated the power of its platform by identifying an optimal long-acting injectable formulation in just two months—a process that traditionally takes a year or longer. By rapidly building and testing 700 formulations in two months, compared to the industry standard of 10-15 formulations per month, Persist AI accelerates a critical phase in bringing new drugs to market.

“AI is enabling pharma to discover new molecules faster than ever. But a molecule that has poor shelf life cannot become a drug product that sits on a shelf. Our mission is to convert these novel molecules into products, such as tablets and injections that patients can use,” said Karthik Raman, CEO of Persist. “If you can find a new drug molecule, you can predict its formulation and use our robotic platform to build and test it in the real world.”

Persist Cloud Lab – A Robotic Lab to Build and Test Formulations Remotely

Once the AI models predict a set of formulations, Persist’s Cloud Lab enables pharmaceutical scientists to test the formulation by remotely controlling the robotic lab. With a combination of miniaturization and seamless automation of formulation testing instruments, Persist’s technology leads to an unprecedented speed advantage in drug development.

Traditional testing instruments often require large volumes of liquid and significant amounts of formulation material per test. As an example, a standard dissolution testing apparatus requires 1000 mL of liquid and several grams of formulation. In contrast, Persist’s miniaturized systems can deliver results with just 1 mL of liquid and a few milligrams of material. This breakthrough not only conserves valuable drugs but also enables higher throughput testing.

“Persist AI has assembled a talented chemistry, engineering, and software team that develops exceptional automated solutions for formulation development workflows,” said Chris Shelner, COO of Persist. “We continue to improve our automation in addition to expanding capacity and workflow scope.”

Through the newly launched Cloud Lab, pharmaceutical companies worldwide can now remotely build and test formulations on Persist’s advanced robotic facilities to develop:

Long acting injectablesTablets and capsulesTopical formulations for cosmetics and pharmaceuticalsInjectable formulations

The platform supports a wide range of modalities including peptides, small molecules, antibodies, and anti-sense oligonucleotides, currently serving multiple top 10 pharmaceutical clients and several smaller biotechs developing next-generation treatments for chronic diseases.

Series A Funding to Accelerate Growth and Innovation

The $12 million in Series A funding will support several key initiatives. Persist will build a GMP manufacturing system for long acting injectables, in collaboration with Nivagen Pharmaceuticals in Sacramento, CA. Funds will be used to expand the robotic lab and build comprehensive data sets that train the company’s AI models. Additionally, the team will expand the capacity and range of formulations the AI models and robotic lab can predict, build, and test.

Persist is actively seeking pharmaceutical partners for co-development of drug products, robotic platforms, and AI training data sets.

To learn more about Persist AI’s Cloud Lab platform and request access, visit https://www.persist-ai.com. Pharmaceutical companies interested in partnership opportunities are encouraged to contact Karthik Raman via his email below or through the website.

About Persist AI

Persist AI is revolutionizing pharmaceutical development through AI-driven robotics for formulation development and CMC. By combining predictive AI models with automated robotic systems, Persist AI enables pharmaceutical companies to develop drug formulations in a fraction of the time and cost of traditional approaches. The company works across multiple modalities and formulation types to accelerate bringing novel therapeutics to patients. Persist AI is a Y Combinator-backed company, having graduated from the prestigious startup accelerator in 2023.

About the Leadership Team

Karthik Raman, CEO and Co-founder of Persist, brings extensive expertise in formulation development. Prior to founding Persist, Raman was part of the automation team at Zymergen, developing the next generation robotic factory for synthetic biology. Co-founder Christopher Shelner serves as Chief Operating Officer, with significant expertise in automation design, operations, and deployment from his work at industry leaders including Northrop Grumman and Apple.

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SOURCE Persist AI Formulations

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JA Selected as Exclusive PV Module Supplier for Teraco’s 120MW Sediba Solar Project

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High-efficiency n-type modules will support long-term renewable-energy generation in demanding South African operating conditions

BEIJING, Nov. 12, 2026 /PRNewswire/ — JA has been selected as the exclusive photovoltaic (PV) module supplier for Teraco’s 120MW Sediba solar project in Parys, in South Africa’s Free State province. The company will supply the high-efficiency n-type modules required for large-scale renewable energy development.

Owned by Teraco, a provider of carrier-, cloud- and vendor-neutral data centre environments for colocation services, Sediba will generate renewable electricity that will be fed into the national grid. The corresponding renewable energy allocation will be supplied to Teraco’s data centre operations through a power-wheeling arrangement with local municipalities and Eskom.

The project is expected to generate more than 354,000MWh of renewable electricity annually once operational, with operations scheduled to begin by the end of 2026.

Engineered for demanding South African conditions

The Sediba site presents the type of operating environment in which long-term PV performance is critical. High summer temperatures, intense solar irradiation, dust, seasonal thunderstorms and significant temperature variations can place sustained pressure on solar modules over their operating life.

Following technical evaluation and testing, JA was selected as the project’s exclusive module supplier based on the performance, durability and long-term reliability of its PV technology.

JA’s high-efficiency n-type modules are engineered to maintain strong energy output while withstanding challenging environmental and mechanical conditions, including high temperatures, hail and heavy loads. These characteristics are particularly important for utility-scale projects designed to operate reliably over several decades.

For Sediba, module selection therefore extends beyond initial power output. Long-term degradation, mechanical integrity, product consistency and the ability to perform across changing environmental conditions are all fundamental to the project’s lifetime generation profile.

Quality and traceability across the module lifecycle

JA combines module technology with a globally consistent approach to manufacturing quality and supply-chain management.

Key materials used in its modules, including glass and soldering ribbon, can be traced throughout the manufacturing process. Detailed environmental and supply-chain records provide further visibility across the product lifecycle.

This combination of manufacturing control, material traceability and product testing is designed to give project owners greater confidence in module quality and long-term performance, particularly for large-scale installations where consistency across thousands of modules is essential.

Supporting lower-carbon infrastructure

JA’s involvement in Sediba also reflects its broader focus on reducing the environmental impact of solar generation across the full value chain.

The company’s climate targets have been validated by the Science Based Targets initiative, while its manufacturing operations incorporate measures designed to reduce carbon emissions associated with PV production. JA also operates nationally recognised green factories as part of its approach to more sustainable manufacturing.

By combining lower-carbon manufacturing practices with high-efficiency module technology, JA aims to extend the environmental benefits of renewable energy beyond electricity generation itself.

For customers developing large-scale renewable-energy projects, this increasingly means considering not only how much electricity a module can generate, but also product longevity, manufacturing efficiency, supply-chain transparency and lifecycle environmental performance.

A reference project for large-scale solar in Africa

Large commercial and industrial electricity users are increasingly turning to renewable generation and wheeling arrangements to secure cleaner electricity, manage long-term energy requirements and advance sustainability objectives. In this environment, dependable PV performance and predictable lifetime generation are becoming increasingly important considerations.

JA’s role in Sediba demonstrates how proven module technology can meet these requirements at utility-scale. As the project progresses towards operation, it will showcase the application of JA’s n-type technology in one of South Africa’s demanding solar environments and further demonstrate the company’s ability to support complex, large-scale renewable-energy projects.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/ja-selected-as-exclusive-pv-module-supplier-for-teracos-120mw-sediba-solar-project-302937333.html

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From CityUHK’s HK Tech 300 to the world: Turning entrepreneurial dreams into reality

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HONG KONG, Nov. 12, 2026 /PRNewswire/ — City University of Hong Kong (CityUHK) is fostering global talent exchange through its flagship innovation and entrepreneurship programme, HK Tech 300, and the Overseas Start-up Technology Entrepreneur Programme (STEP) organised by the CityUHK Academy of Innovation. Together, these initiatives attract students from around the world to explore entrepreneurial opportunities in Hong Kong while enabling local students to gain hands-on experience at overseas start-ups, facilitating the two-way exchange of innovative talent, knowledge and entrepreneurial spirit.

Attracting global talent to Hong Kong to explore entrepreneurial opportunities

HK Tech 300 recently held a new round of entrepreneurship training, attracting more than 110 participants, around 20% of whom came from Europe, Southeast Asia, Central Asia and other regions. During the three-day programme, participants learned how to transform innovative ideas into commercially viable solutions while exchanging perspectives with students from diverse cultural backgrounds, fostering cross-cultural collaboration and inspiring entrepreneurial thinking.

Sanzhar from Kazakhstan and Jessica, from Indonesia, both students in CityUHK’s Department of Computer Science, believe that Hong Kong’s position as an international technology and financial centre provides an ideal environment for start-up development. Through the training programme, they gained a deeper understanding of entrepreneurship and business planning, and hope to turn their innovative ideas into their own ventures one day.

Théo, a third-year student in CityUHK’s College of Business from France, hopes to pursue a career in the Chinese Mainland. He sees Hong Kong’s international environment as an ideal place to experience different cultures and languages. He said that HK Tech 300 helped him learn how to assess the feasibility of innovative ideas while connecting with students from diverse backgrounds, broadening his horizons and expanding his entrepreneurial network.

Kim, a student from South Korea studying in the Department of Electrical Engineering, aspires to establish an artificial intelligence (AI)-related start-up. He said Hong Kong’s open and multicultural environment, together with its vibrant innovation and technology ecosystem were key factors that attracted him to pursue opportunities in the city.

Taking talent from Hong Kong to the world through hands-on experience

While attracting international students to Hong Kong, CityUHK also actively supports students in gaining experience abroad. Over the past two years, STEP, organised by the CityUHK Academy of Innovation, has arranged internships for more than 50 students at 17 deep-tech start-ups in Melbourne, Australia; London and Cambridge, the United Kingdom; and Beijing. These opportunities allow students to gain first-hand experience of how innovative ideas are translated into products and services.

Winnie, a student in the Department of Biomedical Sciences, joined a start-up in Australia this year through STEP. The company provides rehabilitation support for young stroke survivors. She said that, unlike internships primarily focused on laboratory research, working at a start-up allowed her to take on different roles and gain a deeper understanding of the needs of patients and other stakeholders. The experience enhanced her communication skills and gave her a greater appreciation of how technology can address real-world societal challenges.

Febryan from Indonesia and Mariia from Kyrgyzstan, participated in STEP internships at a UK-based start-up specialising in nanomaterials technology that was incubated by Imperial College London. They helped analyse the procedures and requirements for an initial public offering (IPO), gaining insights into the challenges technology start-ups face in business development and financing. Both found that the overseas experience enabled them to apply classroom knowledge in a real-world business environment, equipping them with valuable skills for their future entrepreneurial pursuits and career development.

Building a global platform for innovation

From attracting international students to explore entrepreneurial opportunities in Hong Kong to supporting local students in gaining overseas start-up experience, CityUHK continues to strengthen connections between Hong Kong and the global innovation ecosystem, facilitating the cross-border exchange of talent, knowledge and innovative ideas.

Since its launch in 2021, HK Tech 300 has trained more than 2,200 participants and nurtured over 1,000 start-up teams. More than 230 start-ups have been approved for Angel Fund investments of up to HK$1 million each. Through the HK Tech 300 International Start-up Competition and partnerships with overseas universities and start-up incubators, the programme continues to connect innovation resources worldwide.

Professor Johnny Ho Chung-yin, Associate Vice-President (Enterprise) of CityUHK, said that the University would continue to bring together global innovation talent and entrepreneurial resources through initiatives such as HK Tech 300 and STEP. By supporting talent mobility and cross-border collaboration, CityUHK aims to nurture a new generation of entrepreneurs with a global outlook and entrepreneurial spirit, further strengthening Hong Kong’s position as an international innovation hub and a “super-connector”.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/from-cityuhks-hk-tech-300-to-the-world-turning-entrepreneurial-dreams-into-reality-302937350.html

SOURCE City University of Hong Kong

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OutSystems Introduces Agentic Claims Solution to Modernize Policyholder Experiences

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Agentic First Notice of Loss connects AI agents, customer applications and existing claims systems while keeping coverage, liability and payment decisions with human adjusters

SINGAPORE, Nov. 12, 2026 /PRNewswire/ — OutSystems, the Agentic Systems Platform helping regulated enterprises safely modernize legacy tech and run agentic systems, today announced the expansion of its Agentic Industry Solutions portfolio into insurance with Agentic First Notice of Loss. The pre-built solution enables auto insurers to modernize claims reporting and intake while safely deploying agentic workflows.

By combining customer-facing applications, AI agents, and governed workflows, the solution connects user experiences across existing policy and claims systems and external partners, while maintaining the oversight and control required in a highly regulated industry. While insurers are investing heavily in AI, many are struggling to move beyond experimentation and deliver meaningful improvements to the policyholder experience. According to the OutSystems State of AI Development in Insurance 2026 report, 35% of insurance IT leaders say AI projects have not started because they take too long, the highest rate of any industry surveyed. Legacy systems or scattered data are the top barrier for 42%, while 39% cite integration with existing systems.

These barriers are particularly relevant in claims processing, where critical information is distributed across policy administration, claims management, billing, and third-party systems. For policyholders, this fragmentation often means repetitive questions, disconnected interactions, and delays in getting help when they need it most. The business impact is significant, with 83% of U.S. consumers claiming they would switch insurance carriers following a poor claims experience, according to 2025 research from InvoiceCloud.

“Insurers don’t need another AI pilot. Insurers need AI working in daily claims operations,” said Luis Blando, Chief Product and Technology Officer at OutSystems. “When someone is in an accident, they need help right away, and the insurer needs accurate details while they’re still fresh. OutSystems Agentic First Notice of Loss delivers both. Through a conversational experience, connected to roadside help and claims systems, insurers can become the first line of support: taking the complete report, arranging a tow, and guiding the customer on what to do next. All while coverage, liability, and payment decisions stay firmly in the hands of adjusters.”

Bringing Governed AI Into the Claims Experience

Agentic First Notice of Loss provides insurers with a pre-built agentic solution for a critical moment in the policyholder journey: reporting a loss. It works across both existing claims systems or those rebuilt on OutSystems.

The solution combines customer-facing applications, data models, governed agents, and structured workflows to support key activities during the initial claims process:

Help policyholders report a loss: AI agents orchestrate the entire intake workflow, coordinating roadside dispatch through best-in-class providers like Honk, capturing driver statements, gathering third-party details, and analyzing submitted damage photos in real time.Give adjusters the facts they need: AI agents check coverage against the policy and open the claim in the carrier’s claims system through the solution’s integration layer, attaching the loss details, statements and photos.Keep critical decisions with adjusters: AI agent actions are recorded, with controls governing access to data and systems. Adjusters retain responsibility for all coverage, fault, and payment decisions, ensuring AI supports rather than replaces human judgment.

Built on a production-ready foundation, the solution allows insurers to tailor business rules, UI screens, and agents using OutSystems capabilities or third-party AI coding tools. Task-level testing enables teams to benchmark models continuously, optimizing for the ideal mix of accuracy, speed, and cost.

“OutSystems Agentic FNOL shows where the industry is headed. Governed AI agents tap into existing core systems in real time to orchestrate incident intake and sort the evidence,” said Tom Pelster, CIO at PRISM. “It proves that modernization doesn’t mean you throw out your platforms and systems of record. You build smarter workflows on top of them, and the critical liability and coverage decisions stay firmly with human adjusters.”

Expanding Claims Capabilities Through Roadside Assistance with Honk

Through a strategic partnership with the advanced roadside assistance technology provider Honk, OutSystems Agentic First Notice of Loss can arrange a tow while the policyholder reports the loss. The policyholder can then follow its status and ETA in the insurer’s app.

“The moments after an accident are when a driver finds out whether their insurer is there for them. With OutSystems Agentic First Notice of Loss, the driver reports what happened in a chat with an AI agent, and that agent coordinates in real time to dispatch a tow from Honk’s nationwide network of towing and roadside assistance providers on the carrier’s behalf,” said Adam DeWitt, CEO, Honk. “The agent first offers the carrier’s closest in-network repair shops to give the driver a clear next step. That’s where this technology matters: making a stressful moment easier for the person who needs help.”

The OutSystems Insurance Agent Kit is also available on OutSystems Forge, providing OutSystems insurance customers with reusable AI agents to check policy coverage and read claim photos and documents.

Agentic First Notice of Loss is generally available today. To learn more about how OutSystems is helping insurers move from AI pilots to optimizing policyholder experiences, visit the dedicated page.

About OutSystems

OutSystems is the Agentic Systems Platform helping regulated enterprises safely modernize legacy tech and run agentic systems. By applying AI at the architecture level rather than generating raw code, OutSystems reduces the cost, risk, and friction of legacy modernization—enabling organizations to deploy compliant, scalable, autonomous applications with any AI model. Global enterprises trust OutSystems to accelerate modernization and govern their entire AI portfolio on a unified platform.

OutSystems is consistently recognized as a leader in enterprise software development and agentic enterprise orchestration by Gartner, IDC, and Forrester, and ranked #1 in Customer Satisfaction by users on G2. Business leaders, IT executives and developers choose OutSystems to accelerate innovation without compromising reliability and security. Founded in 2001, the OutSystems ecosystem includes more than 90 million end users, over 600 partners, and thousands of active customers in 75+ countries across 20+ industries. Learn more at www.outsystems.com.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/outsystems-introduces-agentic-claims-solution-to-modernize-policyholder-experiences-302937205.html

SOURCE OutSystems

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