Technology

Sabio Reports Strong 43% YoY Revenue Growth in Q1 2025

Published

11 months ago

May 27, 2025

Revenue increased to US$9.1 million from US$6.4 million in Q1 2024, marking the fourth consecutive quarter of double-digit growth and consistent with a 39% CAGR since 2020Ad-supported streaming revenue2 (Sabio’s dominant business) increased 40% to $6.8 million, compared to $4.9 million in Q1 2024 – significantly outpacing the 13% forecasted growth rate in the US$26.6 billion US Connected TV market at-large for 20251Reflecting recent Sales Force expansion and one-time IT investments, Adjusted EBITDA2 loss was US$1.6 million (18% of sales) vs. a US$1.3 million loss (20% of sales) in Q1 2024Repeat customers represented 91% of Q1 2025 revenue with the most diversified vertical and geographic revenue mix in Sabio’s history Continued strengthening of balance sheet with cash increasing to US$3.8 million from US$3.3 million in Q4 2024 and Sabio’s debt balance also trending lowerConference call to be hosted on Wednesday, May 28, 2025 at 10:00 a.m. ET

TORONTO, May 27, 2025 /CNW/ — Sabio Holdings Inc. (TSXV: SBIO) (OTCQB: SABOF) (the “Company” or “Sabio”), a Los Angeles-based ad-tech company specializing in helping top global brands reach, engage, and validate (R.E.V.) streaming TV audiences, announced its unaudited financial results for the fiscal first quarter ended March 31, 2025. Unless otherwise indicated, all amounts are expressed in U.S. dollars.

“Our team delivered a strong start to 2025, demonstrating ongoing momentum in our business with a 43% increase in year-over-year revenue and increased predictability in our sales model, with 91% of revenues coming from repeat customers,” commented Aziz Rahimtoola, Sabio’s CEO. “Notably, this performance was achieved across multiple verticals and geographies, including our rapidly growing international business – reflecting our ability to grow much faster than the forecasted growth of the US Connected TV market at-large. Moreover, while strengthening our balance sheet with cash generated from operations, we made sizable growth-driving investments. These included strategic Sales Force hiring and the migration of legacy systems to our scalable AWS platform, the latter enabling us to further benefit from AI-driven efficiencies. As these investments begin to deliver returns, we’re currently on track to continue our double-digit growth into the second quarter and deliver another record fiscal year.”

Business Outlook

In the first quarter, Sabio achieved 43% YoY revenue growth. This success was driven by strong advertiser demand, broader client adoption in key verticals, and expansion into new geographies in combination with product offerings introduced in 2024 and previous investments made. The Company’s ad-supported streaming business surged 40% during the quarter, highlighting Sabio’s ability to capture market share -significantly outpacing the 13% growth rate in the US Connected TV market at-large. Management believes that, with brands and marketers increasingly moving away from linear TV and traditional marketing, ad-supported streaming is becoming more central to their advertising strategies.

As the Company enhances its operating infrastructure, management believes its sales trajectory is becoming increasingly predictable, helping mitigate risks in Sabio’s revenue model, as illustrated by:

A robust 39% compound annual growth rate (CAGR) since 2020;Remarkable rates of reoccurring revenue – 91% of Q1 2025 consolidated revenues (excluding political and advocacy ad sales) 1 came from repeat customers, up from 85% in Q1 2024 and 79% in Q1 2023, reflecting the unique capabilities of the App Science™ platform and its increasingly rich data set;Increased sales pipeline visibility – securing approximately $15 million in upfront media commitments for 2025 (vs. $12 million in 2024);The ongoing addition of top-tier clients – 25% of brands spending in Q1 2025 were new to Sabio; andThe most diversified vertical and geographic revenue mix in Sabio’s history, with no vertical2 representing more than 19% of sales.

The Company has begun applying its sales model to geographies outside the U.S., including the United Kingdom, whose revenues continues to compound at triple-digit growth, while expanding its global product offerings. Sabio plans to continually assess new product channels and verticals, as well as other potential opportunities that will add value or complement its market position and product mix within the ad-supported streaming space.

Looking ahead, Sabio is currently on track to surpass its record-setting 2024 sales performance. Due to the seasonal nature of the Company’s business, revenue generation in the first half of the fiscal year is expected to be lower than in the second half (in 2024, consolidated revenues for the third and fourth quarters were 125% higher than those of the first and second quarters). Similar to the strong 2024 reported financial results, Management anticipates that the investments made to support year-over-year growth may marginally offset incremental revenues in the first half of the year, with a turn to Adjusted EBITDA2 profitability in the latter half. In spite of this cost cyclicality, Sabio’s double-digit growth in Q1 2025 indicates strong momentum as it moves toward the second half of the fiscal year. With an expanded Sales Force and improved IT infrastructure in place, Sabio expects double-digit consolidated revenue gains to continue into Q2 2025.

Business Highlights

On January 30, 2025, the Company launched Creator TV, its owned-and-operated Free Ad-Supported Television (FAST) channel that targets the valuable Gen Z and millennial audiences. Creator TV spotlights multi-talented, diverse creators, bridging the gap between social media storytelling and today’s streaming TV content. As part of this launch, global streaming media company, Plex, will distribute Creator TV internationally. Creator TV is pivotal to the Company’s strategy to expand into large international markets such as India.On February 11, 2025, the Company announced that its App Science platform’s household graph (a specialized database) now comprises 80 million households, representing 70% of all U.S. streaming households. This milestone highlights the platform’s ability to track and analyze streaming TV audiences through a vast dataset that includes mobile devices, connected TVs, and other streaming platforms. The household graph is a privacy-compliant, continuously updated database that captures rich consumer behavior while adhering to evolving regulatory standards, enabling advertisers to precisely target audience segments.On February 20, 2025, the Company announced a partnership with Sling TV, a leading streaming service and subsidiary of EchoStar Corporation, for distribution of its Creator Television (Creator TV) Free Ad-Supported Television (FAST) channel on its platform, Sling Freestream. This partnership marks a significant step in the expansion of Creator TV’s reach, ensuring that the diverse and authentic voices it showcases can connect with the broad U.S.-based audiences on Sling Freestream. Combined with Plex’s international audience, Creator TV’s potential reach is now available to over 20 million U.S. and international viewers.The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) provided an employee retention tax credit (“ERTC”) which was a refundable tax credit against certain employment taxes. The Consolidated Appropriations Act extended and expanded the availability of the ERTC through December 31, 2021. Subsequent to the end of the quarter, the Company received payments from the U.S. Internal Revenue Service aggregating to $583,069 from ERTC claims covering the first and second quarters of 2021, inclusive of accrued interest. As this payment was received subsequent to Q1 2025, it is not included in the reported cash balance.On May 16, 2025, the TSX Venture Exchange accepted a notice filed by the Company to implement a Normal Course Issuer Bid, whereupon the Company may, during the 12-month period commencing May 24, 2025 and ending May 23, 2026, purchase up to 883,550 shares in total, being 5% of the total number of 17,671,006 shares outstanding as at April 30.

Financial Highlights

Consolidated revenues increased 43% to $9.1 million for the three months ended March 31, 2025, compared to $6.4 million in Q1 2024. Growth was driven by performance across multiple verticals and geographies, including telecom, quick-service restaurants, travel & tourism, automotive, technology, and finance.Ad-supported streaming revenue2 increased 40% to $6.8 million, compared to $4.9 million in Q1 2024. This represents 75% of the Company’s Q1 2025 sales mix, compared to 77% in Q1 2024.Mobile display ad revenue2 increased 58% to $2.0 million, compared to $1.3 million in Q1 2024. This performance benefited from cross-selling the Company’s ad-supported streaming offerings.Adjusted EBITDA2 showed a loss of $1.6 million in Q1 2025, compared to a loss of $1.3 million in Q1 2024. The increased loss was primarily driven by an approximate $0.8 million increase in cloud computing costs, which included one-time investments that will enhance the Company’s data security, capture AI-driven efficiencies, and facilitate a robust data platform for continued growth. Going forward, Management expects its cloud costs to normalize. First quarter OPEX also included investments made in the Company’s Sales Force and new product offerings since Q1 2024. Sabio’s Sales Force grew nearly 50% in the twelve months ending March 31, 2025, with most hires made in Q4 2024 and Q1 2025.Gross profit margin increased to 61% in Q1 2025, compared to 59% in Q1 2024, as Sabio continued to leverage its end-to-end technology stack, including the App Science platform’s audience segments and analytics, and Sabio SSP ad slots.Driven by cash generated from operations, Sabio ended Q1 2025 with a cash balance of $3.8 million, compared to $3.3 million as of December 31, 2024, and $2.3 million as of December 31, 2023.Total debt load was decreased by approximately $0.2 million compared to December 31, 2024, reflecting a reduction in the balance of the Company’s credit facility with SLR Digital Finance. The facility enables the Company to borrow against eligible accounts receivable before they are collected from Sabio’s customer base, largely composed of the most significant U.S. brands and advertising agencies. When accounts receivables are collected on, the amounts received are first directly paid towards the outstanding loan balance, which the Company can then use for working capital purposes through subsequent withdrawals, subject to availability under the facility. As a result, the facility is continuously being repaid as accounts receivables on sales are collected on.

______________________
1 Sabio revenue growth in Q1 2025 was triple the growth rate for the ad-supported streaming TV industry as a whole, as described in Interactive Advertising Bureau (IAB), “US CTV advertising forecast to grow 13% to $26.6B in 2025″, https://www.streamtvinsider.com/advertising/us-ctv-advertising-forecast-grow-13-266b-2025.
2 See “Use of Non-IFRS Measures” below.

Selected Financials

The tables below set out selected financial information relating to Sabio and should be read in conjunction with Sabio’s unaudited consolidated financial statements, including the notes thereto, and MD&A for the three ended March 31, 2025, and March 31, 2024, copies of which can be found under Sabio’s profile on SEDAR+ at sedarplus.ca.

For the three months ended

March 31, 2025

March 31, 2024

Revenue

9,087,266

6,351,533

Gross profit

5,556,419

3,762,004

Gross margin

61 %

59 %

Adjusted EBITDA(2)

(1,601,577)

(1,308,784)

Net increase in cash and cash
equivalents during the period

520,053

(292,116)

Cash and cash equivalents – end
of the period

3,820,492

2,319,996

For the three months ended

March 31, 2025

March 31, 2024

Income (Loss) for the period

(2,293,202)

(2,012,107)

Finance Costs

295,561

314,346

Interest earned

(9,899)

(8,092)

Amortization of intangible Assets

44,860

51,147

Stock-based compensation

54,685

46,177

Loss on lease termination

20,275

–

Gain on lease modification

(7,317)

–

Amortization of lease

141,449

179,552

Income taxes

12,765

11,949

Foreign exchange differences

2,881

2,043

State and local taxes

29,105

19,868

Severance expenses

107,260

86,333

Adjusted EBITDA

(1,601,577)

(1,308,784)

2 See “Use of Non-IFRS Measures” below.

The financial disclosures in this news release are subject to a number of cautionary statements, assumptions, contingencies and risks as set forth in this news release. The foregoing outlook and expectations constitute forward-looking statements and financial outlook and are qualified in their entirety by the “Forward-Looking Statements” cautionary statement below. Readers are cautioned that this release if for information purposes only and may not be appropriate for other purposes.

Notice of Conference Call

Sabio will hold a conference call on Wednesday, May 28, 2025 at 10:00 a.m. (ET) to discuss its financial results and other corporate developments.

To access the live webinar, please register here register here (us02web.zoom.us/webinar/register/WN_UJX9mI1ySk69Czh3mKo9ZQ).An archived replay of the webcast will be available on the Financial Information section of Sabio’s corporate website (sabioholding.com/investors/financial-information).

Use of Non-IFRS Measures
This press release makes reference to certain non-IFRS (International Financial Reporting Standards) measures including, but not limited to, Adjusted EBITDA and consolidated revenues (excluding political and advocacy ad sales) 1. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other companies and should not be considered in isolation nor as a substitute for analysis of financial information reported under IFRS. Rather, these non-IFRS measures are provided as additional information to complement IFRS measures by providing a further understanding of operations from management’s perspective.

Management uses adjusted earnings before interest, income taxes, depreciation, and amortization (“Adjusted EBITDA”) as a key financial metric to evaluate Sabio’s operating performance as a complement to results provided in accordance with IFRS. The term “Adjusted EBITDA”, as defined by management, refers to net income (loss) before adjusting earnings for finance costs, income taxes, stock-based compensation, amortization, non-recurring items, and severance costs. Refer to reconciliation to Adjusted EBITDA under the “Selected Financials” section of this release and in the Company’s MD&A for the three months ended March 31, 2025 and March 31, 2024, copies of which can be found under Sabio Holdings Inc.’s profile on SEDAR Plus at sedarplus.ca.

Management believes that the items excluded from Adjusted EBITDA are not connected to and do not represent the operating performance of Sabio. Management believes that Adjusted EBITDA is useful supplemental information as it provides an indication of the results generated by Sabio’s main business activities prior to taking into consideration how those activities are financed and taxed as well as expenses related to stock-based compensation, depreciation, amortization, restructuring costs, other expense (income), and foreign exchange (gain) loss. Accordingly, management believes that this measure may also be useful to investors in enhancing their understanding of Sabio’s operating performance. It is a key measure used by Sabio’s management and board of directors to understand and evaluate Sabio’s operating performance, to prepare annual budgets, and to help develop operating plans.

Revenues excluding political and advocacy ad sales is a supplementary financial measure that represents the Company’s total consolidated revenue as reported in its financial statements, excluding revenues derived from political and advocacy advertising campaigns. Revenues by vertical is a supplementary financial measure that represents the proportion of the Company’s total consolidated revenue as reported in its financial statements contributed through brands operating within a referenced industry vertical.

Ad-supported streaming sales and mobile display sales are supplementary financial measures that represent the proportion of the Company’s consolidated revenue as reported in its financial statements contributed by the Company’s ad-supported and mobile display product offerings, as is also presented in the Company’s MD&A for the three ended March 31, 2025, and March 31, 2024, copies of which can be found under Sabio’s profile on SEDAR+ at sedarplus.ca.

About Sabio
‍Sabio Holdings (TSXV: SBIO, OTCQB: SABOF) is a technology and services leader in the fast-growing ad-supported streaming space. Its cloud-based, end-to-end technology stack works with top blue-chip, global brands and the agencies that represent them to reach, engage, and validate (R.E.V.) streaming audiences.

Sabio consists of a proprietary ad-serving technology platform that partners with the top ad-supported streaming platforms and apps in the world, App Science™, a non-cookie-based software as a service (SAAS) analytics and insights platform with AI natural language capabilities, and Creator Television®(Creator TV), the first creator-led streaming network and content studio dedicated to bringing the authenticity and energy of social media storytelling to TV.

For more information, visit: sabio.inc

Forward-Looking Statements
This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, which is often, but not always, identified by the use of words such as “believes,” “anticipates,” “plans,” “intends,” “will,” “should,” “expects,” “continue,” “estimate,” “forecasts,” or the negative thereof and other similar expressions. All statements herein other than statements of historical fact constitute forward-looking information,including but not limited to statements in respect of: the success of new product offerings; results, including sales, expenses, and customer retention, of the ad-supported streaming sales; the Company’s outlook for 2025, including expected revenue gains; expected double-digit growth in Q2 2025 and expansion into international markets; the anticipated normalization of cloud computing costs; the expected return to profitability in the latter half of 2025; the impact of recent investments (including Sales Force expansion and IT infrastructure migration) on future performance; and sales trajectory becoming increasingly predictable. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations, or statements made by third parties in respect of the Company, its securities, or financial or operating results (as applicable). Material assumptions used to develop the forward-looking information in this press release include, but are not limited to: continued customer demand in core markets, successful execution of new product rollouts, stabilization of input costs including cloud infrastructure, retention of key personnel, no material changes in applicable regulatory frameworks, and general economic conditions remaining consistent with management expectations. Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors, and assumptions concerning future events that may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including the other risk factors disclosed in the Company’s annual information form and management’s discussion and analysis (MD&A), which are publicly available on SEDAR Plus at www.sedarplus.ca. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Sajid Premji, Chief Financial Officer, investor@sabio.inc, Phone: 1.844.974.2662; Sam Wang, Investor Relations, investor@sabio.inc

View original content:https://www.prnewswire.com/news-releases/sabio-reports-strong-43-yoy-revenue-growth-in-q1-2025-302466420.html

SOURCE Sabio Inc.

Technology

Penn Medicine, Children’s Hospital of Philadelphia team awarded Breakthrough Prize for developing gene therapy for inherited blindness

Published

11 minutes ago

April 18, 2026

LOS ANGELES, April 18, 2026 /PRNewswire/ — Their discovery started with a group of blind dogs living at a vet school. Now, the work has been awarded the prestigious Breakthrough Prize at the “Oscars of Science.”

Today, Jean Bennett, MD, PHD, and Albert Maguire, MD, both emeritus professors of Ophthalmology in the Perelman School of Medicine at the University of Pennsylvania, and Katherine High, MD, an emeritus professor of Pediatrics and the founding director of the Raymond G. Perelman Center for Cellular and Molecular Therapeutics at Children’s Hospital of Philadelphia (CHOP), received the Breakthrough Prize in Life Sciences for their work in developing the first FDA-approved gene therapy for an inherited condition, which dramatically improves sight in people with a form of blindness called Leber Congenital Amaurosis (LCA).

Their work blazed a trail for the more than 140 gene therapy trials for retinal conditions, including macular degeneration and diabetic retinopathy, diseases that collectively impact about 30 million people in the US. Eighty more trials are currently underway.

“Even 20 years ago, treating people with gene therapy was seen by some as an impossibility,” said Jonathan Epstein, MD, dean of the Perelman School of Medicine and executive vice president of the University of Pennsylvania for the Health System. “But this group of incredible physician-scientists persisted and created something that is providing sight to people who would have been completely blind as early as kindergarten. Their belief in the power of life-changing science has led to breathtaking results and richly deserved global recognition.”

The Breakthrough Prizes are called the “Oscars of Science” for their high-profile celebration of research and support from celebrities spanning numerous areas of pop culture. Created in 2012 by Sergey Brin, Priscilla Chan and Mark Zuckerberg, Yuri and Julia Milner, and Anne Wojcicki, the prizes are given out in five categories including Life Sciences, Fundamental Physics, and Math, each with an accompanying $3 million award.

This year’s accolade now means that nine Penn-affiliated researchers have received the Breakthrough Prize, tied for the most with Harvard University. The prior Penn Medicine award winners are Carl June, PhD (2024), Drew Weissman, MD, PhD, and Katalin Karikó, PhD (2022), and Virginia M.Y. Lee, PhD (2019). Additionally, Penn faculty members Charles Kane, PhD, and Eugene Mele, PhD, won the prize for Physics in 2019. Mathew Madhavacheril, PhD, an assistant professor of Physics and Astronomy in Penn’s School of Arts & Sciences, also received recognition at this year’s Breakthrough Prize ceremony when he was honored with the New Horizons in Physics award, given to researchers early in their careers.

“Science is rarely a straight path, and those who make the most profound discoveries are resilient and persistent, overcoming obstacles along the way,” said J. Larry Jameson, MD, PhD, president of the University of Pennsylvania. “That is exactly what I see in this year’s awardees, and it has been true of all our remarkable faculty who have been recognized for scientific breakthroughs. Whether they are discovering what lies beneath Alzheimer’s Disease, curing cancer by engineering a patients’ own immune cells, or reversing blindness—they have persisted with imagination and rigor. Their steadfastness has pushed the boundaries of what medicine can achieve.”

“Developing cell and gene therapies has long been a top priority for our organization,” said Madeline Bell, CHOP’s CEO. “This breakthrough is the result of decades of investment and collaboration, and reflects our commitment to translating scientific discoveries into therapies that will transform patients’ lives. It has paved the way for many more cell and gene therapy innovations and has given hope to families around the world.”

“They can see!”

Bennett and Maguire met and married during medical school in the 1980s. It was then that they both became intrigued by the concept of genetic therapy, the practice of replacing a mutated or faulty gene with a functional copy, and started dreaming of treating inherited forms of blindness with the technique, which at that time remained the stuff of science fiction.

It was “like thinking you wanted to go to the moon in 1950,” Maguire said many years later.

Both Bennett and Maguire joined Penn’s Scheie Eye Institute in the 1990s and began working on their ideas with lab mice. They learned that the University of Pennsylvania School of Veterinary Medicine housed a group of blind dogs who had a condition similar to the human disease: Leber congenital amaurosis (LCA). People born with a mutation on the RPE65 gene have poor vision starting at birth and often progress rapidly to complete blindness, usually by their 20s, but sometimes in early childhood.

The pair developed a therapy that used a virus as a transport, carrying a piece of DNA into cells that would then correct the faulty, blindness-causing proteins formed by the bad gene. The idea: Once the proteins were set right, some sight might return. First, they tested the therapy by injecting it into a single eye in each of three dogs.

It wasn’t long until they knew whether it worked. Bennett recalls receiving an excited phone call from a technician at the lab, who exclaimed, “They can see!”

Sure enough, the dogs were twirling around, using their treated eyes to see. Before treatment, the dogs had bumped and tripped through an obstacle course set up to test their sight. After the full treatment, the course was an easy task for the dogs.

A knock on the door

In parallel with Bennett and Maguire’s dreams of gene therapy, High was also working to bring the field forward. Like Bennett and Maguire, she had achieved long-term reversal of a serious genetic disease in a dog model: In her case, for hemophilia, a life-threatening bleeding disorder. High had advanced these studies from success in dogs to initial clinical trials in humans, delivering the donated gene into skeletal muscle and the liver.

The work was promising, but the human immune response to the gene delivery vessel—which was derived from a virus in the same way Bennett and Maguire’s therapy was—prevented sustained benefits from the therapeutic gene. At the same time, companies and investors, discouraged by high profile negative events, began to turn away from gene therapy. Progress stalled.

But with support from CHOP, High founded the Raymond G. Perelman Center for Cellular and Molecular Therapeutics (CCMT) in 2004. She recruited experts in all aspects of clinical gene therapy, including specialized knowledge in the manufacturing and release of gene therapy vectors, which are the particles that deliver a healthy copy of a defective gene to patients.

After vector production was set up at CHOP, High went to Bennett’s office and knocked on the door with a proposition to start a clinical trial in humans. In 2007, Maguire, who was then a surgeon in Pediatric Ophthalmology at CHOP, administered an injection of the experimental therapy at CHOP into a clinical trial participant – a 26-year-old woman—for the first time. Her twin, with the same condition, received the treatment shortly after.

When the team assessed the treatment of the 37 eligible participants from the original clinical trials, 72 percent reported the maximum possible improvement in a test of low-light conditions, which simulates night vision. Amid these, many reported improved peripheral and central vision, too. One patient, who could only detect changes in light, was suddenly able to navigate walking through Philadelphia at night, unaided, and could make out the clock on City Hall. Another patient was able to see a star for the first time in her life just six days after the procedure.

In 2017, the therapy—by then manufactured by Spark Therapeutics, a spinout from CHOP, and called Luxturna—received approval by the U.S. Food and Drug Administration. It became the first FDA approval of a genetic therapy for an inherited disease. Today, hundreds of people around the world have successfully received the treatment.

A celebration of decades of work

Today’s celebration in Los Angeles marks a celebratory milestone in roughly 40 years of work led by Bennett, Maguire, and High that has inspired others in the now vibrant field of gene therapy. In fact, a treatment stemming from High’s original work with hemophilia received FDA approval in 2024.

“We always just did what we thought you were supposed to do if you were a doctor: Find treatments for diseases,” said Maguire. “Both my father and Jean’s worked in science, and it seemed normal to try to push the envelope.”

“I think the only surprise for us was that things worked out so well,” Bennett said. “For every success, there are usually so many failures. That’s just the nature of science. But our team hit on something that has helped so many people and helped progress the field, and we’re really grateful for our part in that.”

High described the journey between the start of her collaboration with Bennett and Maguire in 2005 and the FDA approval in 2017 as “an arduous one.”

“At times, it seemed that the number of obstacles we needed to overcome to reach regulatory approval was never-ending,” High said. “Working without the benefit of the guidelines and precedents we now have today, we sought to solve each day’s problems so that the program would have a tomorrow. It was a bold and uncertain investment of time, effort, and resources. Few were willing to take on the risks, but it ultimately paid off, and it helped build the foundation of modern gene therapy.”

About Penn Medicine:
Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, excellence in patient care, and community service.

The organization consists of the University of Pennsylvania Health System and Penn’s Raymond and Ruth Perelman School of Medicine, founded in 1765 as the nation’s first medical school.

The Perelman School of Medicine is consistently among the nation’s top recipients of funding from the National Institutes of Health, with more than $588 million awarded in the 2024 fiscal year. Home to a proud history of “firsts,” Penn Medicine teams have pioneered discoveries that have shaped modern medicine, including CAR T cell therapy for cancer and the Nobel Prize-winning mRNA technology used in COVID-19 vaccines.

The University of Pennsylvania Health System cares for patients in facilities and their homes stretching from the Susquehanna River in Pennsylvania to the New Jersey shore. UPHS facilities include the Hospital of the University of Pennsylvania, Penn Presbyterian Medical Center, Chester County Hospital, Doylestown Health, Lancaster General Health, Princeton Health, and Pennsylvania Hospital—the nation’s first hospital, chartered in 1751. Additional facilities and enterprises include Penn Medicine at Home, GSPP Rehabilitation, Lancaster Behavioral Health Hospital, and Princeton House Behavioral Health, among others.

Penn Medicine is a $13.7 billion enterprise powered by more than 50,000 talented faculty and staff.

About Children’s Hospital of Philadelphia:
A non-profit, charitable organization, Children’s Hospital of Philadelphia was founded in 1855 as the nation’s first pediatric hospital. Through its long-standing commitment to providing exceptional patient care, training new generations of pediatric healthcare professionals, and pioneering major research initiatives, the hospital has fostered many discoveries that have benefited children worldwide. Its pediatric research program is among the largest in the country. The institution has a well-established history of providing advanced pediatric care close to home through its CHOP Care Network, which includes more than 50 primary care practices, specialty care and surgical centers, urgent care centers, and community hospital alliances throughout Pennsylvania and New Jersey. CHOP also operates the Middleman Family Pavilion and its dedicated pediatric emergency department in King of Prussia, the Behavioral Health and Crisis Center (including a 24/7 Crisis Response Center) and the Center for Advanced Behavioral Healthcare, a mental health outpatient facility. Its unique family-centered care and public service programs have brought Children’s Hospital of Philadelphia recognition as a leading advocate for children and adolescents. For more information, visit www.chop.edu .

Media Contacts:

CHOP PR Contact:
Ashley Moore
Moorea1@chop.edu
267-426-6071

Penn Medicine PR Contact:
Frank Otto
Frank.Otto@pennmedicine.upenn.edu
267-693-2999

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SOURCE Children’s Hospital of Philadelphia

Technology

Haloid Solutions Expands Access to Radio Equipment by Offering Flexible Financing and Leasing Solutions Named HaloidFLEX

Published

3 hours ago

April 18, 2026

NEW YORK, April 18, 2026 /PRNewswire/ — As part of Haloid Solutions’ long-term commitment to helping businesses and municipalities acquire critical communications equipment despite budgetary constraints, Haloid now offers specialized financing and leasing programs through its HaloidFLEX program.

Designed to ensure that companies and governments have the equipment they need without costly capital expenditures outlays, HaloidFLEX offers financing for equipment purchased directly from manufacturers or local radio dealers. HaloidFLEX financing offers zero percent and low-interest options as well as predictable monthly payments for qualified buyers. HaloidFLEX clients can even opt to incorporate extended support services and protections into their financing to prepare for accidents, theft, or equipment losses. This gives companies peace of mind with one low monthly payment.

For organizations that don’t want or need to own equipment long-term, the HaloidFLEX leasing program offers similar benefits with potential tax advantages. Companies can lease brand new equipment and upgrade or return it at lease-end as needed. For companies seeking flexible options – or those that are interested in upgrading to the latest technology as it becomes available – leasing makes perfect sense.

One of the added benefits of each program is that HaloidFLEX allows clients to bundle services and protections that would normally be billed separately. Accidental damage, theft, and loss protections can be put in place, so that there’s never a lapse in communication if a radio fails. Extended warranties are also available upon request, so companies can customize their financing and protection to fit their budget and safeguard their equipment simultaneously.

According to a Haloid Solutions spokesperson, “Bundling expenses simply makes sense. It reduces the need for multiple policies and flexes with organizations to ensure critical communication equipment is available when needed while guaranteeing that the company’s investment is protected for the life of the equipment.”

HaloidFLEX financing and leasing programs are available to qualified businesses and municipalities nationwide. To learn more or request a customized quote, visit HaloidSolutions.com.

About Haloid Solutions

Haloid Solutions is the go-to resource for U.S. businesses and municipalities in search of financing and leasing for two-way radios, walkie talkies, communications equipment, accessories, and services. Focused on reliability, affordability, and performance, Haloid strives to equip professionals in all communication-based industries with the resources they need most.

For more information about Haloid Solutions, or details about the HaloidFLEX financing or leasing programs, please visit https://haloidsolutions.com/collections/lmr-radio-financing-and-leasing-and-subscription-low-cost-payment-options-for-2-way-radio-equipment or contact us on our website.

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SOURCE HALOID SOLUTIONS

Technology

CAS Holdings Appoints Patrick McDermott as Chief Executive Officer

Published

4 hours ago

April 18, 2026

Leadership Transition Positions CAS Holdings for Continued Growth and Customer-Focused Innovation

FRANKLIN, Mass., April 18, 2026 /PRNewswire/ — CAS Holdings, a leader in industrial automation distribution, engineering, and integration, is pleased to announce that Patrick McDermott has been named Chief Executive Officer.

McDermott previously served as President and Chief Revenue Officer, where he played a key role in driving growth across the organization, strengthening customer relationships, and leading teams with a clear focus on execution and results.

In his new role as CEO, McDermott will lead CAS Holdings into its next phase of growth, building on the company’s strong foundation and continued commitment to delivering value to customers, partners, and employees.

“I’m honored to step into the role of CEO at CAS Holdings,” said McDermott. “Over the past year, I’ve had the opportunity to work alongside an incredible team, support our customers, and help drive the growth of our organization. I’m excited to build on that momentum as we move into our next chapter.”

CAS Holdings, through its divisions including iAutomation and RND Automation, delivers a full spectrum of industrial automation solutions – from product distribution and technical support to custom machine building and system integration. Serving OEM machine builders and end-users, the company brings deep expertise in motion control, robotics, and vision, along with value-added capabilities such as kitting, sub-assembly, panel building, and turnkey automation systems, acting as an extension of its customers’ engineering and production teams.

McDermott’s leadership will focus on advancing CAS Holdings’ strategic initiatives, strengthening its market position, and continuing to deliver innovative automation solutions that support customers across a wide range of industries.

“We have a strong foundation, a talented team, and a clear direction. I’m looking forward to what we’ll accomplish together,” McDermott said. “Our focus remains on supporting our customers with responsive, local expertise, strong supplier partnerships, and the engineering and production capabilities they rely on to keep their operations running and growing.”

About Complete Automation Solutions Holdings

Complete Automation Solutions Holdings (CAS Holdings) is dedicated to empowering industrial automation companies, including those in the packaging industry, to achieve optimal efficiency and success. With a diverse portfolio encompassing industrial distribution, panel building and assembly, system integration, and robotics, CAS Holdings provides comprehensive packaging machines and solutions tailored to meet industry needs. The company prioritizes strong partnerships, expert engineering, and innovative solutions, ensuring sustainable practices and continuous improvement. CAS Holdings envisions a future where its transformative automation solutions redefine industry standards and drive growth. Committed to transparency and collaboration, CAS Holdings aims to be the most trusted partner in the automation sector.

Press Contact:

Erika Jacques
508-838-8012
http://www.iautomation.com/

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SOURCE CAS Holdings, Inc.