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Data Specialties Inc. Continues to Ensure Data Center Uptime and Power Readiness During Record California Wildfires and Heat Emergencies

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Data Specialties Inc. (DSI), a leader in data center design-build, today announced its Power Readiness Service is available to help data center owners and operators. This service enables an understanding of data center electrical systems, electric loads and backup power supplies, and offers implementation of updated systems to mitigate risk from disasters like wildfires and power outages.

Prompted by a severe heat wave and several significant wildfires across the state, the California Independent System Operator (CAISO) has issued several emergency notices, including the latest Stage 2 emergency on September 6. Theyre also issuing Flex Alerts calling for consumers to voluntarily conserve electricity to avoid a Stage 3 emergency and rolling blackouts. Both PG&E and Southern California Edison, the states two biggest power utilities, warn of rotating outages if conditions and temperatures worsen, including public safety power shutoffs to prevent fires, when weather conditions require. DSIs power readiness service produces a picture of your data centers existing backup power system, identifies gaps, and provides recommendations on how to ensure your data center is prepared to deal with power emergencies.

With the Uptime Institute reporting that most data centers were caught unprepared to deal with the pandemic, and with their recognition of how wildfires are directly impacting data centers located near fires or in evacuation zones or near enough to deal with potential smoke and ash infiltration, owners and operators need to focus on complete disaster preparedness and business continuity plans. And a key part of that is managing powerthere are significant risks of losing power for any data center, making it imperative to have the proper uninterruptible power equipment to handle the unique energy loads of each data center. DSIs Power Checkup Service is designed to gather information from a comprehensive assessment of your electrical system and identify critical electrical loads requiring protection as well as the equipment you need to protect your data center and your business. In addition to an assessment and analysis, DSI offers implementation of updated power and backup supply services for data centers of all sizes to be ready to deal with this heat emergency.

The unprecedented number of wildfires and more rolling outages than weve seen in almost 20 years, have a significant impact on businesses and their data centers, says Phil Rafferty, Co-Founder and President, DSI. Our power readiness services are valuable for data centers to ensure they can meet these conditions head on and maintain mission critical uptime.

About Data Specialties Inc.

Since 1991, Data Specialties Inc. has been a leader in Data Center design-build. The company manages all aspects of site selection, design, construction, commissioning and maintenance of mission-critical data centers throughout the United States. DSIs clients have entrusted them to implement data centers that are critical to the daily operations of their businesses. DSIs designs deliver the reliability demanded today, and the scalability and flexibility to accommodate any future moves, additions or changes. For more information, please visit http://www.webuilddatacenters.com.

Adam Waitkunas

Milldam Public Relations

978-828-8304 (mobile)

[email protected]

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Morningside Venture Capital Becomes 5Y Capital

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SHANGHAI, Oct. 28, 2020 /PRNewswire/ — The leading investment firm Morningside Venture Capital is pleased to announce that it has changed its name to 5Y Capital. 

Morningside Venture Capital ("MSVC") was started in 2008 during the financial crisis by Richard Liu, Ken Shi and Gerald Chan under the auspices of Morningside Group. Prior to its founding, Richard and Ken worked as investment professionals at Morningside Group, a private investment group founded by the Chan family of Hong Kong. When they spun off the MSVC operation from the family office and set up the Morningside TMT funds, Morningside Group became the anchor investor. As a gesture of support, Morningside Group authorized them to use the "Morningside" brand in its operations. Over the past 12 years, MSVC has grown into an organization with over 35 members of staff. In October 2020, the MSVC operation was renamed as 5Y Capital reflecting the firm’s growth and the vast array of opportunities it can provide. Morningside Group remains one of 5Y Capital’s most important investors. "The Chan family has led us all the way into the industry. Dr. Gerald Chan, co-founder of Morningside Group, taught us great values such as integrity, independent thinking, etc., which had a profound impact on us," remarked Richard and Ken.

The new name "5Y" is a combination of the number 5 in the Chinese name of "Wuyuan Road" (wu means 5 in Chinese) and the first letter of yuan. Wuyuan Road is a beautiful one-way street in Shanghai. This is where the team has been headquartered from the very beginning. The new name reflects the firm’s commitment that wherever it is heading, it has and will always stay true to itself, its friends, and its business partners. 

It is not just a name change but more an evolution of its investment strategies. "5Y Capital was co-founded by our team. I hope that with our constantly evolving team and investment methodology, we will be able to partner with more and more great entrepreneurs, help them tap into their unique advantages and achieve greatness," said Richard.

Along with the name change, 5Y Capital has updated its corporate identity including changes to its website found at www.5ycap.com/en/. Effective immediately, all business activities will be undertaken using the new name.

About 5Y Capital

5Y Capital (formerly known as Morningside Venture Capital), founded in 2008, is a leading investment firm that currently manages approximately USD 3bn in dual-currency funds in USD and RMB. 5Y has provided multi-stage investments to a wide range of successful business founders, including Joyy (NASDAQ: YY), Xiaomi Corporation (HK: 01810), Kuaishou, Kingsoft Office (SH: 688111), Agora (NASDAQ: API), Xpeng Motors (NYSE: XPEV) and Pony.ai.

Related Links :

http://www.5ycap.com/en/

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Gracell Biotechnologies Raises $100 Million in Series C Funding to Advance Next Generation CAR-T Cell Therapies

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SHANGHAI and SUZHOU, China, Oct. 28, 2020 /PRNewswire/ — Gracell Biotechnologies Inc. ("Gracell"), a global clinical-stage biopharmaceutical company dedicated to developing highly efficacious and affordable cell therapies for the treatment of cancer, today announced it has secured $100 million in Series C funding. The round is led by Wellington Management Company, OrbiMed and Morningside Ventures, and joined by new investor Vivo Capital. Existing investors Temasek Holdings, Lilly Asia Ventures, OrbiMed and King Star Med LP are also participating.

"We are very pleased to expand our investor base with support from a high caliber consortium," said Dr. William Wei Cao, founder, Chairman, and CEO of Gracell, "Our passion is to bring transformative CAR-T cell therapies to a broader group of patients by developing products that are efficacious and can be made widely available."

Gracell was founded in 2017 with the mission to overcome the major industry challenges that persist for both autologous and allogeneic CAR-T cell therapy approaches. Gracell has developed two pioneering platforms—FasTCAR and TruUCAR. With FasTCAR, Gracell is able to deliver younger, less exhausted T cells for autologous cell therapies with greater potency and next-day manufacturing (22 to 36 hours). With TruUCAR, Gracell is able to derive T cells from non-HLA-matched healthy donors to generate allogeneic CAR-T cell therapies that are readily available off-the-shelf at lower cost for a broad patient base.

Leveraging its FasTCAR and TruUCAR platforms, Gracell is developing a pipeline of autologous and allogeneic cell therapy candidates with the potential to treat both hematologic malignancies and solid tumors. Currently, Gracell’s lead FasTCAR autologous product candidate, GC012F, is being studied in an ongoing investigator-initiated Phase 1 trial in China for the treatment of relapsed or refractory multiple myeloma (r/r MM). Its lead TruUCAR allogeneic product candidate, GC027, is being studied in an ongoing investigator-initiated Phase 1 trial in China for the treatment of relapsed or refractory T cell acute lymphoblastic leukemia (r/r T-ALL).

Proceeds from the round will be used to fund internal research and development and further advance current clinical programs. Jefferies and Cooley advised in the transaction.

About Gracell

Gracell Biotechnologies Inc. ("Gracell") is a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies. Leveraging its pioneering FasTCAR and TruUCAR technology platforms, Gracell is developing a rich clinical-stage pipeline of multiple autologous and allogeneic product candidates with the potential to overcome major industry challenges that persist with conventional CAR-T therapies, including lengthy manufacturing time, suboptimal production quality, high therapy cost and lack of effective CAR-T therapies for solid tumors.

CONTACT:

Kevin Xie
CFO
[email protected]

Claire McCardell
Investor Relations
[email protected]

Linc He 
Business Development and Public Relations
[email protected]
+86-21-6403-1375

Related Links :

http://www.gracellbio.com

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Reditus, Korean “untact” e-finance transaction platform, launched a mobile App to contact anywhere.

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– Presenting a suitable daily life e-finance platform amid the COVID-19 crisis.

SEOUL, South Korea, Oct. 28, 2020 /PRNewswire/ — The Korean e-finance transaction platform, Reditus (CEO, Gilmo Jang) has launched a mobile App for open banking to contact anywhere, anytime.

Mobile e-finance transaction platform, Reditus
Mobile e-finance transaction platform, Reditus

Regarding the continuous spread of COVID-19, change has come to financial platforms. Reditus has developed a Receivables Management System (RMS), which provides 400 different types of everyday life contracts, including an e-finance promissory note, employment contract and rental contract. Reditus also supports banking services and contract protection services considering the new global trend due to the coronavirus such as an untact consumption and a non-face-to-face financial transaction paradigm. With the extended customer base related to COVID-19, electronic contract cases on the Reditus platform based on the e-finance promissory note exceeded 1,500 cases.

Daily life financial integration platforms provided by Reditus are divided into different sections such as E-Contract, Banking and Contract Protection. The e-contract is a smart contract type without paper documents, which is appreciated as a non-face-to-face solution.

Reditus offers an e-finance promissory note as well as 400 different types of contracts including a credit transaction contract and employment contract. All formats can be customized following the user’s requests.

The banking service is a non-face-to-face service mainly for managing contract fulfillment such as remittance, transfer and notice. When a contract is authorized, a virtual receivable account will be created, and the contractors can freely remit and transfer to each other through the account. When the contractors acknowledge their money transactions through the banking service, not only the e-finance promissory note will be issued, but also bond management solutions will be provided without any charge such as a fixed date for the legal acknowledgment of the commencement of the transaction and free receivable collection service.

An CEO, Gilmo Jang said, "Reditus is based on the specialized RMS and offers low commission fee and collection expense with advanced security for safe daily e-finance. Our customer base is expected to grow as COVID-19 continues."

Those who want to write an e-finance promissory note on the Reditus app can download the app on Google Play and App Store and start to use it after a simple verification process.

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Reditus, Korean “untact” e-finance transaction platform, launched a mobile App to contact anywhere.

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