Quaise Energy Raises $134 Million in Initial Close of Series B to Build World’s First Superhot Geothermal Power Plant

HOUSTON - Tuesday, 07. July 2026

Prelude Ventures led the round, with participation from JERA Co., Inc., Japan's largest power generation company, and Idemitsu Kosan, one of Japan's largest integrated energy companies

Series B equity is the first component of a diverse financing that includes project-level capital and debt

Quaise's millimeter wave drilling system is approaching one kilometer of depth at its Central Texas field site

Series B proceeds fund Project Obsidian in Central Oregon, the world’s first commercial superhot geothermal power plant

 

(BUSINESS WIRE) -- Quaise Energy, a leading developer of utility-scale superhot geothermal energy, today announced the first close of its Series B financing, raising $134 million with additional equity and debt capital expected to close imminently. The round was led by Prelude Ventures, with strategic investments from JERA and Idemitsu, two of Japan's largest energy companies. Nearly all existing investors, including Safar Partners, participated in the round.

The proceeds from Series B will fund Project Obsidian, the world’s first commercial superhot geothermal power plant, and the continued development and commercialization of Quaise's millimeter wave drilling system towards depths in excess of 5 km. Project-level equity and debt financing is concurrently being raised as the company advances toward first revenues secured by yet-undisclosed commercial off-take partners. The Series B brings Quaise's total funding raised to date to $230 million.

Quaise uses a millimeter wave drilling system developed at the Massachusetts Institute of Technology to ablate rock at depths and temperatures that are not economically accessible using conventional drilling. With this technology, Quaise has the unique potential to reach rock at temperatures of 300-500°C in most places worldwide, enabling the construction of geothermal systems that rival fossil and nuclear energy in power density and renewables in cost.

“Our ambition is to power civilization with Earth's most compelling energy source. This round takes us from field-proven technology to first commercial revenues,” said Carlos Araque, CEO and President of Quaise Energy.

Quaise has demonstrated the capability of its millimeter wave drilling system at its Central Texas field site, drilling more than 100 meters through granite in 2025 — the first time the technology penetrated basement rock at full scale in field conditions. The company is now approaching one kilometer of depth at the same site, a milestone that would represent the deepest penetration ever achieved with millimeter wave drilling — and the deepest ever recorded by any non-contact drilling technology. These results validate the core technology that Quaise will deploy at Project Obsidian and at other sites as the company dramatically expands the map for geothermal.

“We have backed Quaise since the beginning because we believed accessing superhot rock would unlock geothermal energy at a scale the world has never seen,” said Mark Cupta, Managing Director at Prelude Ventures. “What the team has achieved in the field and what they are now building at Project Obsidian validates that conviction, and we are proud to continue supporting Quaise as they move from proving the technology to powering the grid with clean, reliable energy nearly anywhere on Earth.”

“Quaise's millimeter wave technology has the potential to redefine what geothermal can deliver — accessing heat at depths and temperatures that were previously out of reach. This investment reflects Idemitsu's commitment to next-generation energy solutions that can contribute to stable, sustainable power supply at scale,” said Kei Honda, Executive Leader, San Jose Office and Senior Vice President, Head of Corporate Venturing, Idemitsu Americas Holdings Corporation.

Project Obsidian, where construction is currently underway, sits on federal geothermal leases in the Deschutes National Forest in Oregon, one of the most studied geothermal locations in the United States. The project has gigawatt-scale potential and will deliver first electrons to the grid by 2030. Power will support grid stability across the Pacific Northwest at a time when the region faces rising demand and constrained transmission capacity.

“As a global energy company, JERA understands both the scale of the challenge ahead and the scale of the opportunity that next-generation geothermal represents. Millimeter wave drilling technology has the potential to make geothermal a truly global baseload resource,” said Takeshi Kodama, Head of JERA Ventures and Managing Partner, JERA Co., Inc. “We look forward to working together with Quaise to advance the development of this promising technology and business.”

“We are proud to be a partner and supporter of Quaise Energy. As the need for power grows exponentially around the world, Safar believes geothermal energy has a critical role to play, and Quaise is uniquely positioned to revolutionize the industry,” said Parinaz Motamedy, Partner at Safar Partners. “By reimagining the drilling process entirely and leveraging millimeter wave technology to reach previously inaccessible depths and temperatures, Quaise is unlocking superhot geothermal energy at a global scale. We've been working alongside the team since the beginning, and this round represents an important inflection point as the company transitions from scientific breakthroughs to commercial deployments.”

The $134 million Series B represents the initial equity component of a broader capital program. Quaise has closed $230 million to date. Additional components of the capital program, including project-level equity and debt financing, are expected to be announced later this year.

About Quaise Energy

Quaise Energy is unlocking the Earth’s deep heat to deliver clean, reliable, baseload energy at scale—almost anywhere in the world. As both a technology innovator and project developer, Quaise builds and operates solutions that harness superhot geothermal energy far below the surface, enabling power generation that can rival the output of today’s most efficient fossil fuel and nuclear plants. With its millimeter wave drilling technology, developed after more than a decade of research at the Massachusetts Institute of Technology (MIT), Quaise’s mission is to make superhot geothermal a backbone of the modern energy system, offering affordable, zero-carbon power and true energy independence for communities and nations everywhere.

About Prelude Ventures

Prelude Ventures is a climate-focused venture capital firm that invests in and supports early-stage startups with the greatest potential to mitigate climate change. For over a decade, Prelude has sought out purpose-driven founders and provided the capital and expertise needed to build the next generation of category-defining businesses that will reshape our global economy for the greater good of people and planet. Prelude Ventures is based in San Francisco, learn more at preludeventures.com.

About JERA

JERA is a global energy leader and Japan’s largest power generation company focused on providing cutting-edge solutions to the world's energy issues. Established in 2015, the Company produces one-third of Japan’s electricity, and is one of the largest LNG buyers in the world. JERA has global reach and strength throughout the energy supply chain, including participation in upstream gas exploration and production, LNG projects, fuel procurement and transportation, and power generation globally. In support of a responsible energy transition, JERA aims to achieve net-zero CO₂ emissions from its domestic and overseas businesses by 2050.

For more details: https://www.jera.co.jp/english.

About Idemitsu

Idemitsu Kosan Co., Ltd. is one of Japan’s largest energy companies, engaged in fuels, petrochemicals, high-performance materials, lubricants, and renewable energy. Through Idemitsu Americas Holdings Corporation, the company is expanding its U.S. presence to drive innovation, business development, and operational support for the Idemitsu Group across the Americas.

About Safar Partners

Safar Partners is an early to growth-stage investment platform with over $1B AUM, investing in patent-protected technology companies emerging from the world's leading universities, including MIT and Harvard. Safar focuses on three sectors: cleantech and advanced materials, robotics and quantum, and life sciences. Often the first institutional investor in its portfolio companies, Safar applies private equity discipline to venture investing and has the flexibility and expertise to support companies from inception through commercialization. For more about Safar Partners, visit https://www.safar.partners.

Forward Looking Statement:

This press release contains forward-looking statements, including statements regarding the Company's future financial performance, business plans, and expectations. These forward-looking statements are based on assumptions deemed reasonable by the Company at the time they were made. There is no assurance that such statements will prove accurate, and actual results may differ materially from those expressed or implied herein due to various risks, uncertainties, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on the aforementioned assumptions. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.

Quaise.com | LinkedIn | X | Instagram | Facebook | YouTube

 

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Contacts

Media Contact:

Diane Hughes

Vice President, Marketing & Communications, Quaise Energy

press@quaise.com

Bitget Launches Crypto Industry's First Ever US Stock Options Trading

 

VICTORIA, Seychelles - Friday, 03. July 2026

(GLOBE NEWSWIRE) -- Bitget, the world's largest Universal Exchange (UEX), has launched US stock options, giving users direct access to trade options on leading US-listed companies. This makes Bitget the only major crypto exchange currently offering US stock options alongside crypto and CFD markets covering gold, forex, commodities and indices.

Active features include long call and long put strategies for eligible users. Calls allow traders to take a bullish position on a stock, while puts can be used to express a bearish view or manage downside exposure. Risk for buyers is limited to the premium paid, although an option may expire without value if the expected price movement does not occur.

The launch expands Bitget's stock product line, following the introduction of tokenized stocks, its position as a leading venue for tokenized-stock trading, and pre-IPO access to private market opportunities. Stock options add another widely used Wall Street instrument to the Stock+ offering, giving active traders more ways to approach market movements, earnings cycles and portfolio risk.

Stock options expand the platform's Stock+ product, with direct-access venue for traditional US equities, built for traders familiar with established stock market products and regulated market infrastructure. The addition aligns with Bitget's wider goal of bringing crypto, stocks, commodities and other global assets into one multi-asset trading environment for users worldwide.

Demand for listed options has reached record levels. The US options market processed more than 15.2 billion contracts in 2025, an average of roughly 60 million contracts per trading day. The growth indicates wider use of options by retail and institutional participants for directional trading, hedging and capital management.

“We have consistently moved first to connect stock opportunities with our users,” said Gracy Chen, CEO at Bitget. “This has been rewarding to us and users alike. From tokenized stocks to now options, we are executing on convergence. This is innovation crypto was born to push, our products are way ahead of its time in providing advanced trading access to stocks, gold, crypto and worldwide assets.”

The initial release focuses on single-leg options buying to provide a clear entry point for users. Additional functionality, including more advanced multi-leg strategies, is planned as the Stock+ options product develops.

To mark the launch, eligible users completing their first US stock options trade may receive $15 worth of NVIDIA stock, subject to the campaign terms and regional availability.

Options trading involves significant risk and may not be suitable for all users. Product availability, supported securities and promotional rewards may vary by jurisdiction. Users should review the relevant product disclosures and understand the potential loss of the full premium before trading.

To know more about stock options trading on Bitget, visit here.

About Bitget

Bitget is the world's largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 500+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships such as MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry's lowest fees and highest liquidity across 150 regions worldwide.

For more information, visit: Website | X | Telegram | LinkedIn | Discord

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/efe7f4d2-18e2-4216-a92c-3b3213714f28

Private Department of Sheikh Mohammed bin Khalid Al Nahyan Invests in MidOcean Energy and Forms Strategic Partnership with EIG

 

LONDON & WASHINGTON - 

(BUSINESS WIRE) -- The Private Department of Sheikh Mohammed bin Khalid Al Nahyan (the “Private Department”) has today committed to invest $1.13bn in MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG.

In parallel with the investment, the Private Department and EIG have established a strategic partnership focused on capital aggregation, investment origination, and the development of institutional investment opportunities across the United Arab Emirates and selected regional markets.

The Investment in MidOcean represents the Private Department’s entry into the global LNG sector and marks the launch of a broader strategic relationship with EIG, a global energy and infrastructure investment firm. Through this partnership, the parties intend to collaborate on future investment opportunities across the energy and related infrastructure sectors.

The investment further strengthens MidOcean’s high-quality institutional shareholder base and reflects continued confidence in the Company’s strategy to build a diversified, resilient, and long-life global LNG platform.

MidOcean has assembled a high-quality portfolio of LNG interests across key global markets, including Canada, Australia, and Latin America, and seeks to continue to expand its global footprint through a disciplined and value-driven investment approach.

R. Blair Thomas, MidOcean Chairman and EIG CEO, said: “We are pleased to establish a strategic partnership with the Private Department. This relationship combines EIG's global energy investment expertise with the Private Department's regional reach, institutional relationships, and long-term investment perspective. We believe this creates a powerful platform for capital formation and investment across the region."

De la Rey Venter, CEO of MidOcean, said: “The Private Department’s investment supports our continued growth and execution across a diversified global LNG portfolio. We appreciate their strong endorsement of MidOcean’s strategy, and we look forward to working together to capture more opportunities in an increasingly important global LNG market.”

Matar Hamdan Al Ameri, Executive Managing Director of the Private Department of Sheikh Mohammed bin Khalid Al Nahyan, said: “This investment represents an important milestone in our strategy to establish long-term exposure to high-quality global infrastructure and energy assets and create opportunities for regional investors to participate alongside leading institutional partners. MidOcean provides access to a critical component of the global energy system through a diversified LNG platform, while our strategic partnership with EIG creates a foundation for future collaboration and investment opportunities across the region."

About The Private Department of Sheikh Mohammed bin Khalid Al Nahyan

The Private Department of Sheikh Mohammed Bin Khalid Al Nahyan, headquartered in Abu Dhabi, United Arab Emirates, together with its affiliate KSH Investments, are a diversified investment and asset management platform focused on identifying and developing long-term investment opportunities across a diversified range of sectors and geographies. Through its direct investments, strategic partnerships, and asset management activities, the Private Department, together with its affiliate KSH Investments, manage interests across real estate, hospitality, infrastructure, financial services, energy, and other sectors, with a focus on long-term value creation and prudent capital allocation.

Important Notice

This announcement is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to subscribe for or purchase any securities. Any offering will be made only pursuant to applicable offering documents and in compliance with applicable securities laws.

About EIG

EIG is a leading institutional investor in the global energy and infrastructure sectors with $25.9 billion assets under management as of March 31, 2026. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 44-year history, EIG has committed – $53.9 billion to the energy sector through 426 projects or companies in 44 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit www.eigpartners.com.

About MidOcean Energy

MidOcean Energy, a pure play LNG company formed and managed by EIG, seeks to build a diversified, resilient, cost- and carbon-competitive global LNG portfolio. It reflects EIG’s belief in LNG as a critical element of a lower-carbon, competitive and more secure global energy system. MidOcean has established a platform with a balance sheet of more than $5 billion and interests in LNG projects across the Americas and Australia, supported by a marketing office in Singapore and a corporate office in London. For additional information, please visit www.midoceanenergy.com.

 

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Contacts

EIG/MidOcean Contact Information

FGS Global

Kelly Kimberly / Brandon Messina

+1 212-687-8080

EIG@fgsglobal.com

The Private Department Contact Information

The Private Department of Sheikh Mohammed bin Khalid Al Nahyan

PrivateDepartment@Khalidia.ae

 

Orion and Shilpa Medicare Expand Partnership to Develop and Supply Nivolumab Biosimilar for Europe

 (BUSINESS WIRE) -- Shilpa Medicare Limited announced that its wholly owned subsidiary, Shilpa Biologicals Private Limited, has entered into a co-development and supply agreement with Orion Corporation for intravenous (IV) nivolumab biosimilar referencing one of the world’s most widely used cancer immunotherapies to widen patient access across Europe.

Nivolumab helped usher in the era of immuno-oncology, transforming the outlook for patients with cancers such as melanoma and lung cancer. As the originator approaches loss of exclusivity in Europe, this partnership aims to put a high-quality, EU-GMP-manufactured nivolumab biosimilar within reach of more patients, reducing healthcare burden. In 2025, Nivolumab recorded sales of approximately USD4.1 billion (Source: IQVIA/IMS) Europe — underscoring the scale of the opportunity.

Under the agreement, Orion will hold the exclusive rights to register, market, distribute and sell the nivolumab biosimilar across Europe. Shilpa Biologicals will lead product development and serve as exclusive long-term commercial manufacturer and supplier for Europe. Shilpa will receive development and regulatory milestone payments, and supply revenue over life of partnership.

“Extending our partnership with Orion into immuno-oncology is a defining moment for Shilpa Biologicals,” said Vishnukant Bhutada, Managing Director, Shilpa Medicare. “It reflects the trust our partners place in our quality, our science and our ability to deliver complex biologics at scale.”

“We are pleased to add yet another product to our strategic partnership with Shilpa,” said Satu Ahomäki, EVP Generics and Consumer Health, Orion Pharma. “This agreement strengthens our operations in hospital segment in Continental Europe, and reflects progress of implementation of our division’s strategy to give everybody an access to affordable quality medicines.”

About Shilpa Medicare Limited

Shilpa Medicare, headquartered in India, is a diversified pharmaceutical and biotechnology company developing complex generics, biologics and APIs. Through Shilpa Biologicals, it operates an integrated biologics platform spanning development, scale-up and commercial manufacturing at its EU-GMP facility in Dharwad.

About Orion Corporation

Orion Pharma is a globally operating Nordic pharmaceutical company and a builder of well-being for over a hundred years. It develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients, with an extensive portfolio of proprietary and generic medicines and consumer health products. Its core R&D areas are oncology and pain, with proprietary products treating cancer, respiratory and neurological diseases, among others. In 2025, net sales amounted to EUR 1,890 million, with about 4,000 employees worldwide.

 

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Contacts

Monish Shah

mediarelations@vbshilpa.com

 

Media Release: Financial Worries Rise and Match Health Concerns as Cost-of-Living Pressures Mount in 2026

MUNICH - Monday, 06. July 2026

Globally, people are united in their top personal worries: Financial and health issues rank at the top in 2026, averaging 13 percentage points ahead of other concerns.

Financial pressure is prominent across Europe, rising in France, Germany, and U.K., and emerging as a top concern in newly measured markets, Spain and Switzerland.

Allianz published these results in “The Allianz 3am Report 2026,” which surveyed 10,000 people across 10 countries worldwide about what keeps them awake at night.

Addressing financial concerns requires accessible, targeted financial and risk education. To support this, Allianz has launched the “Allianz School For Life” learning platform.

 

(BUSINESS WIRE) -- Households around the world are feeling the strain of the rising cost of living, with financial pressure increasingly shaping everyday choices and long-term confidence. Finances and health are now tied as the top global worries, at 48% each, followed by concerns about the future at 35%, according to consumer surveys in 10 countries published in “The Allianz 3am Report 2026.”

Financial worries, which include concerns about “rising cost of living” (71%) and “insufficient income” (51%), increased in seven out of eight countries surveyed year over year, moving up in the ranking of top three worries in Brazil, France, Germany, and the U.K., while remaining stable in Italy. The strongest increases are observed in Australia and Indonesia, where financial concerns have remained the leading worry, as well as in Turkey (from 42% to 49%). In the two countries added to this year's survey, Spain and Switzerland, financial worries also rank among the top two concerns. At the same time, many people lack the financial knowledge needed to save effectively, build wealth and plan for long-term security, a gap Allianz aims to help close with its new financial and risk learning platform, “Allianz School For Life.”

Health concerns remain a major source of anxiety worldwide. Concerns about personal physical health rank highest globally at 48%, followed by worries about the health of family members (45%) and access to medical treatment (42%). Mental health and stress are emerging as the fastest-growing issues (up 5 and 4 percentage points, respectively, from 2025), potentially reflecting the strain of uncertain times and even financial stress on individuals’ well-being. Allianz helps address these concerns by offering a connected suite of health and preventive care services designed to support people throughout their healthcare journey, guide them to the right care faster, and reduce unnecessary treatment.

“The top worries of finances and health increasingly reflect the search for stability in a changing world. As more household budgets are focused on essentials, many people find it harder to save, plan ahead and feel in control of their future. For Allianz, staying close to customers starts with understanding their everyday realities. It also means helping them make informed financial choices and ensuring they have the right access to health and preventative care. It is how we continue to earn their trust across generations and provide protection and peace of mind through insurance solutions they value and can afford,” said Bernd Heinemann, Head of Group Strategy, Marketing, and Distribution, Allianz SE.

People are coping, but financially fragile

Based on a survey of 10,000 people across Australia, Brazil, France, Germany, Indonesia, Italy, Spain, Switzerland, Turkey and the U.K., the report takes a closer look at how financial pressure is shaping everyday choices. The findings point to growing affordability challenges. They reflect a shift toward a less inclusive economy where wealth gaps are widening.

With only a small global minority (5%) describing themselves as truly financially secure and able to save and invest significantly, a large share report they are “managing,” while nearly one in three are struggling to make ends meet. In uncertain times, the dominant instinct is defensive with 34% of respondents reducing nonessential spending and 22% focusing on saving for essential future needs. Expenses for food (77%) and housing (49%) dominate household budgets globally, followed by transportation (35%) and insurance (34%).

For many households, saving money remains difficult, with nearly one in three people unable to save regularly, which may result in unexpected expenses that can quickly disrupt stability. Across Europe and the U.K., around one-third (34%) are able to save 10% or more of their income. Indonesia shows a different pattern, with 56% of respondents reporting they can save 10% or more of their income, suggesting a greater reliance on personal savings to manage uncertainty, even under pressure.

Curated financial education

As the cost of living rises and people take greater responsibility for their retirement, wealth and financial security, financial literacy is essential. However, significant knowledge gaps remain: Allianz Research finds that only 18% of people have advanced financial knowledge, while 26% have only a basic understanding. Allianz continues to invest in customer-centric solutions that address customers’ evolving needs. One way it is doing so is through the launch of the “Allianz School For Life,” a free, open-access digital learning platform designed to help address gaps in financial literacy and support long-term resilience. The platform provides content about budgeting, investing and risk management, tailored to different life stages, with dedicated learning journeys for children, teenagers and adults, to make financial education engaging, accessible and applicable to everyday life.

 

Further links

 

Allianz 3am Report: What Keeps People Awake at Night

Allianz School for Life

Pension Reform Survey 2026

Allianz Media Center

About Allianz

The Allianz Group is one of the world’s leading insurers and asset managers, active in almost 70 countries and serving around 97 million private and corporate customers*. Our customers benefit from a broad range of personal and corporate insurance services, including property, life and health insurance, as well as assistance services, credit and global business insurance. Recognized for the seventh consecutive year as the number one global insurance brand in Interbrand’s Best Global Brands 2025 ranking, Allianz’s success is built on technology-enabled customer centricity – providing peace of mind, protection, and prevention for our customers and strengthening the resilience of individuals, communities, and societies. We are one of the world’s largest investors, managing around 770 billion euros** on behalf of our insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 2.0 trillion euros** of third-party assets. Thanks to our systematic integration of environmental and social criteria in our business processes and investment decisions, Allianz received an MSCI ESG Rating of AAA (as of March 2026). In 2025, our 156,000 dedicated employees achieved a total business volume of 186.9 billion euros and an operating profit of 17.4 billion euros for our shareholders.

* As of December 31, 2025. Customer count reflects Allianz customers in consolidated entities that are part of the customer reporting scope only.

** As of March 31, 2026.

Mandatory corporate information: Corporate disclosures

These assessments are, as always, subject to the disclaimer provided below.

Cautionary note regarding forward-looking statements

This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.

Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation with respect to the Allianz Group, other well-known companies and the financial services industry generally, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR/USD exchange rate, (x) changes in laws and regulations, including tax regulations, (xi) the impact of acquisitions including related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

No duty to update

Allianz assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.

Privacy Note

Allianz SE is committed to protecting your personal data. Find out more in our privacy statement.

 

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Contacts

For further information please contact:

Lauren Day Tel. +49 89 3800 3345 E-Mail: lauren.day@allianz.com

Florian Amberg Tel. +49 89 3800 15924 E-Mail: florian.amberg@allianz.com

Heidi Polke Tel. +49 89 3800 90777 E-Mail: heidi.polke@allianz.com

Patricia Segovia Tel. +49 89 3800 67589 E-Mail: patricia.segovia@allianz.com

No-Loss Trading Platform UpsideOnly Surpasses 100,000 Users Within Weeks of Launch

 SAN FRANCISCO - 

Rapid growth shows strong demand for a new trading model where users can make market predictions without risking their own capital

(BUSINESS WIRE) -- Perpetuals.com Ltd (Nasdaq: PDC), today announced that UpsideOnly, its risk-free trading and market prediction platform, has seen a surge in new user sign-ups, surpassing the important milestone of 100,000 traders within weeks of its launch on May 19.

UpsideOnly lets users make predictions about where global equity, commodity, forex, and crypto markets are heading without ever placing a real trade themselves. Perpetuals uses its own capital to trade on the strongest signals identified by its proprietary AI. If those trades win, Perpetuals shares the profits with the users who helped generate the signal. If the trade doesn’t make money, users lose nothing.

Reaching 100,000 users so quickly after launching is a reflection of the enormous demand for a platform that flips the traditional retail trading model on its head, with early platform data showing strong engagement across asset classes, geographies and user activity:

Users from more than 180 different countries

$38.4 billion in cumulative platform volume

1,110,385 fills across 25 instruments

US Crude Oil Futures (WTI) was the most-traded asset, ahead of Bitcoin (BTC)

These 100,000 groundbreaking users do more than trade; they generate the signals that power the business. Perpetuals's patent-pending BayesShield AI filters their collective predictions for genuine, repeatable skill, and the company trades its own capital on the strongest signals, sharing the upside with the users who produced them, a proprietary-trading model designed to monetize crowd intelligence rather than user losses.

“Reaching 100,000 users this quickly is more than a growth milestone. It is proof that the current model is broken and traders are looking for a better approach,” said Patrick Gruhn, CEO of Perpetuals. “Prediction markets have become some of the most extractive products in finance, using powerful technology to keep users engaged while most of them lose. UpsideOnly shows that the same forces – AI, market prediction and crowd intelligence – can be used in a way that rewards users instead of exploiting them.”

The unique nature of UpsideOnly means users also avoid the financial losses they would have incurred if they had been trading with their own money. To-date, UpsideOnly has saved users a total of $28.6 million in potential losses, averaging $1,429 in avoided loss per losing users. One UpsideOnly user would have lost a staggering $235,666 if trading with their own money.

About Perpetuals.com Ltd

Perpetuals.com Ltd (Nasdaq: PDC) is a fintech company developing AI-powered trading products and prediction markets, with a global footprint across the United States, Europe, and Asia. Its mission is to reduce risk through empowering retail users with intuitive, secure, and efficient trading experiences that span the world’s capital markets. UpsideOnly, the company's flagship consumer product, is the first risk-free trading platform, pairing human market insight with proprietary BayesShield AI so users can share in trading profits without ever risking their own money.

Perpetuals’s technology is used by the EU-licensed Perpetual Markets Multilateral Trading Facility (MTF), PM MTF Ltd, an affiliate of Perpetuals.com Ltd, which operates under full MiFID II, MiCA, DORA, and EMIR compliance.

We may use blog posts on our website as well as our social media accounts, including our accounts on X, LinkedIn, and Facebook, to disclose material information about the company from time to time.

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Agenus Reports Landmark BOT+BAL Data Showing 33% Three-Year Overall Survival in Refractory MSS Metastatic Colorectal Cancer Without Active Liver Metastases at ESMO GI 2026

 LEXINGTON, Mass. - Monday, 06. July 2026 AETOSWire  

Fully enrolled 123-patient Phase 1b cohort demonstrated 21.2-month median overall survival, 33% three-year overall survival, and a survival curve plateau beyond two years

Data presented in a heavily pretreated population where durable long-term survival is rarely reported

17% of patients alive and off all systemic anticancer therapy at last follow-up

Extended safety follow-up showed no new safety signals, no treatment-related deaths, and 98% resolution of immune-mediated diarrhea/colitis

 

(BUSINESS WIRE)--Agenus Inc. (Nasdaq: AGEN), a leader in immuno-oncology innovation, today announced three-year landmark Phase 1b data from the fully enrolled C-800-01 cohort evaluating botensilimab (BOT), an Fc-enhanced multifunctional anti–CTLA-4 antibody, plus balstilimab (BAL), an anti–PD-1 antibody, in patients with refractory microsatellite-stable (MSS) metastatic colorectal cancer (mCRC) without active liver metastases. The data were presented at the European Society for Medical Oncology Gastrointestinal Cancers (ESMO GI) Congress 2026 on July 2 in Munich, Germany.

BOT+BAL demonstrated clinically meaningful long-term survival in a heavily pretreated patient population with historically limited benefit from conventional immune checkpoint inhibitors and few durable treatment options after progression on standard therapies. With extended follow-up, median overall survival was 21.2 months and the three-year overall survival rate was 33%, with the Kaplan-Meier curve showing a plateau beyond two years.

Available later-line standards in refractory MSS mCRC without active liver metastases have historically reported median overall survival of approximately 10–14 months in relevant analyses, reflecting a treatment setting in which few patients have historically remained alive at later landmark timepoints and pivotal studies have generally focused on median survival rather than mature 36-month overall survival outcomes.i In this context, the survival profile, curve plateau beyond two years, and proportion of patients alive and off systemic anticancer therapy support the durability of benefit observed with BOT+BAL in this fully enrolled 123-patient Phase 1b cohort.

The data build on the two-year overall survival results presented by Dr. Benjamin L. Schlechter of Dana-Farber Cancer Institute at ESMO GI 2025 and reflect an additional year of follow-up from the same cohort. With longer follow-up, the dataset now includes 26 confirmed responses; median duration of response was not reached; and 21 patients, or 17%, were alive and off all systemic anticancer therapy at last follow-up, including 13 responders.

“These three-year data are important because they show a pattern of benefit that is not typically expected in refractory MSS colorectal cancer,” said Benjamin L. Schlechter, M.D., of Dana-Farber Cancer Institute and presenting author of the study. “These are patients who had received multiple prior lines of therapy and had few remaining options. Seeing a subset of patients remain alive and off systemic anticancer therapy after treatment speaks to the clinical relevance of these results and the potential for botensilimab plus balstilimab to change expectations for what immunotherapy may achieve in this setting.”

“BOT+BAL is not simply another checkpoint combination; it was designed to activate antitumor immunity in tumors that have been difficult to reach with conventional immunotherapy,” said Steven O’Day, M.D., Chief Medical Officer of Agenus. “With longer follow-up, we are seeing the elements that matter for a potentially differentiated immunotherapy regimen: durable survival, sustained responses, treatment-free intervals, and a manageable safety profile. These findings strengthen the foundation for BATTMAN and our broader development strategy in MSS colorectal cancer.”

The Phase 1b (NCT03860272) cohort included 123 patients with MSS mCRC without active liver metastases. Patients had received a median of three prior lines of therapy; 67% had received at least three prior lines, 15% had received prior anti–PD-(L)1 with or without anti–CTLA-4 therapy, and 30% had received at least one later-line regimen of regorafenib, trifluridine/tipiracil with or without bevacizumab, or fruquintinib.

Key Efficacy Results:

Median overall survival: 21.2 months, with 24-month and 36-month overall survival rates of 41% and 33%, respectively

Confirmed objective response rate: 21%, including three complete responses and 23 partial responses

Median duration of response: not reached; responses ranged from 1.9 months to at least 37.4 months

Disease control rate: 69% at six weeks

Clinical benefit rate: 28% at 24 weeks

Tumor regression: observed in more than 40% of patients

Treatment-free survival: 21 patients or 17%, were alive and off all systemic anticancer therapy, including 13 responders with a subset of patients remaining free from subsequent therapy or death for more than two years

In a post hoc late-line–exposed subgroup of 37 patients who had received at least one prior regimen of regorafenib, trifluridine/tipiracil with or without bevacizumab, or fruquintinib, BOT+BAL showed a confirmed objective response rate of 22%, median overall survival of 16.2 months, and a three-year overall survival rate of 30%. In this subgroup, median duration of response was 16.6 months, disease control rate was 70%, and clinical benefit rate at 24 weeks was 27%.

Safety Results

With extended follow-up, no new safety signals were observed and there were no treatment-related deaths. Immune-mediated diarrhea/colitis resolved in 98% of affected patients, with a median time to resolution of 14 days from onset.

Treatment-related immune-mediated diarrhea/colitis was the most common immune-mediated adverse event (42%; grade ≥3, 15%). The selected Phase 3 regimen of BOT 1 mg/kg plus BAL demonstrated improved tolerability, with lower rates of immune-mediated diarrhea/colitis (27%; grade ≥3, 10%) than the 2 mg/kg regimen.

Together, the mature efficacy, treatment-free survival, and extended safety findings support continued evaluation of BOT+BAL in MSS mCRC and provide rationale for the ongoing randomized Phase 3 BATTMAN trial evaluating BOT+BAL in refractory MSS/proficient mismatch repair (pMMR) metastatic colorectal cancer.

Presentation Details

Abstract Title: Botensilimab + Balstilimab in Microsatellite-Stable Metastatic Colorectal Cancer Without Active Liver Metastases: Extended Follow-Up and 3-Year Survival

Presenter: Benjamin L. Schlechter, M.D.; Dana-Farber Cancer Institute, Boston, MA, USA

Final Publication Number: 91P

Congress: European Society for Medical Oncology Gastrointestinal Cancers Congress 2026

Location: ESMO GI, 2026 | Munich, Germany

Poster Availability: The poster is available on the Agenus publications page.

About the C-800-01 Study (NCT03860272)

C-800-01 is a first-in-human Phase 1b clinical trial evaluating botensilimab with or without balstilimab in patients with advanced solid tumors. The MSS mCRC without active liver metastases cohort enrolled 123 patients who received BOT 1 mg/kg or 2 mg/kg every six weeks plus BAL 3 mg/kg every two weeks. The primary endpoint was safety and tolerability. Secondary endpoints included objective response rate, duration of response, disease control rate, and progression-free survival. Exploratory endpoints included overall survival and clinical benefit rate.

About Agenus

Agenus is a leading immuno-oncology company targeting cancer with a comprehensive pipeline of immunological agents. The company was founded in 1994 with a mission to expand patient populations benefiting from cancer immunotherapy through combination approaches, using a broad repertoire of antibody therapeutics, adoptive cell therapies (through MiNK Therapeutics) and adjuvants. Agenus has robust end-to-end development capabilities, across commercial and clinical cGMP manufacturing facilities, research and discovery, and a global clinical operations footprint. Agenus is headquartered in Lexington, MA. For more information, visit www.agenusbio.com or @agenus_bio. Information that may be important to investors will be routinely posted on our website and social media channels.

About Botensilimab (BOT)

Botensilimab (BOT) is a human Fc enhanced multifunctional anti-CTLA-4 antibody designed to boost both innate and adaptive anti-tumor immune responses. Its novel design leverages mechanisms of action to extend immunotherapy benefits to “cold” tumors which generally respond poorly to standard of care or are refractory to conventional PD-1/CTLA-4 therapies and investigational therapies. Botensilimab augments immune responses across a wide range of tumor types by priming and activating T cells, downregulating intratumoral regulatory T cells, activating myeloid cells and inducing long-term memory responses.

Approximately 1,300 patients have been treated with botensilimab and/or balstilimab in phase 1 and phase 2 clinical trials. Botensilimab alone, or in combination with Agenus’ investigational PD-1 antibody, balstilimab, has shown clinical responses across nine metastatic, late-line cancers. For more information about botensilimab trials, visit www.clinicaltrials.gov.

About Balstilimab (BAL)

Balstilimab is a novel, fully human monoclonal immunoglobulin G4 (IgG4) designed to block PD-1 (programmed cell death protein 1) from interacting with its ligands PD-L1 and PD-L2. It has been evaluated in more than 900 patients to date and has demonstrated clinical activity and a favorable tolerability profile in several tumor types.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding its botensilimab and balstilimab programs, expected regulatory timelines and filings, and any other statements containing the words "may," "believes," "expects," "anticipates," "hopes," "intends," "plans," "forecasts," "estimates," "will," “establish,” “potential,” “superiority,” “best in class,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the factors described under the Risk Factors section of our most recent Annual Report on Form 10-K for 2025, and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Agenus cautions investors not to place considerable reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this press release, and Agenus undertakes no obligation to update or revise the statements, other than to the extent required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

References

i Available later-line standards include regorafenib, trifluridine/tipiracil with or without bevacizumab, and fruquintinib in refractory metastatic colorectal cancer, including analyses in patients without active liver metastases (Ref 1-3).

 

1. Garcia-Carbonero R, et al. Presented at ESMO 2024. Poster #520P;

 

2. Tabernero J, et al. Presented at ASCO 2024. Poster #3584;

 

3. Cohen R, et al. Eur J Cancer. 2024;207:114160.

 

 

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