Financial Data and Key Metrics Changes - Revenue for the year ended December 31, 2025, was $22 million, a decrease of approximately 14% from $25.7 million in 2024 [17] - Gross profit increased to $8.4 million or 38.2% of revenue compared to $8.2 million or 32% of revenue in 2024 [19] - Operating expenses declined by 25% to $28.1 million in 2025 compared to $37.6 million in 2024 [20] - Net loss narrowed by 31% to $19.9 million in 2025 compared to $28.9 million in 2024 [22] Business Line Data and Key Metrics Changes - Revenue from ReWalk Personal Exoskeleton was relatively flat at $8.5 million in 2025 compared to $8.9 million in 2024, with units sold increasing by 22% year-over-year [17] - Revenue from MyoCycle FES bike declined by 50% to $600,000, reflecting a strategic focus on core products [18] - Revenue from AlterG products and services was $12.9 million, an 18% decline from 2024, primarily due to lower international sales [18] Market Data and Key Metrics Changes - Reimbursement coverage for ReWalk expanded to include three largest Medicare Advantage insurers in the U.S., covering over 16 million lives [13] - International distribution efforts accelerated following the receipt of CE mark, with Germany as the primary test market [13] Company Strategy and Development Direction - The company is executing a strategy to build a diversified biomedical innovation company with multiple technology platforms [3] - A strategic transaction with Oramed is expected to strengthen the financial foundation and expand strategic scope [4] - Focus on cash flow positive operations while investing in innovations that will define the future of the company [3][25] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about growth in the core med tech business and improvements in operating expenses [15] - The company is focused on building a strong payer engagement capability to expand patient access and accelerate adoption of technologies [11] Other Important Information - The company plans to increase investment in R&D as new products advance to market, including the upper body exoskeleton [21] - A $3 million loan agreement with Oramed was entered into for additional capital support [23] Q&A Session Questions and Answers Question: How does the Oramed POD technology align with the company's current infrastructure? - Management indicated that the integration of Oramed's technology would drive synergies across med tech and biotech, enhancing the company's decentralized approach to commercialization [27][28] Question: What is the timeline for the upper extremity robotic assistance product? - Management stated that the product could be a 510(k) exempt product, with a timeline of 18-24 months for commercialization [32][33] Question: How should investors view the company's diversification into biotech? - Management emphasized that a diversified portfolio in med tech and biotech is beneficial, providing multiple opportunities for product commercialization [42][43]

Financial Data and Key Metrics Changes - Revenue for the year ended December 31, 2025, was $22 million, a decrease of approximately 14% from $25.7 million in 2024 [18] - Gross profit increased to $8.4 million or 38.2% of revenue compared to $8.2 million or 32% of revenue in 2024 [20] - Operating loss narrowed by 33% to $19.7 million in 2025 compared to $29.3 million in 2024 [22] - Net loss narrowed by 31% to $19.9 million in 2025 compared to $28.9 million in 2024 [22] - Operating cash usage reduced by 23% to $16.8 million in 2025 compared to $21.7 million in 2024 [23] Business Line Data and Key Metrics Changes - Revenue from ReWalk Personal Exoskeleton was relatively flat at $8.5 million in 2025 compared to $8.9 million in 2024, with units sold increasing by 22% year-over-year [18] - Revenue from MyoCycle FES bike declined by 50% to $600,000, reflecting a strategic focus on core products [19] - Revenue from AlterG products and services was $12.9 million, a decline of 18% from 2024, primarily due to lower international sales [19] Market Data and Key Metrics Changes - ReWalk achieved reimbursement coverage with three largest Medicare Advantage insurers in the U.S., representing over 16 million covered lives [13] - International distribution for ReWalk expanded, with Germany as the primary test market [13] Company Strategy and Development Direction - The company is executing a strategy to build a diversified biomedical innovation company with multiple technology platforms [3] - A strategic transaction with Oramed is expected to strengthen the financial foundation and support growth initiatives [4] - The acquisition of technology from Skelable aims to enhance the upper extremity rehabilitation market [6][9] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about growth in the core med tech business and improvements in operating expenses driving the company toward positive cash flow [16] - The company is focused on expanding reimbursement coverage and building a stronger payer engagement capability [11] Other Important Information - The company will not provide guidance at this time due to significant transformations and pending transactions [15] - The strategic agreement with Oramed is expected to close soon, providing additional capital support [23] Q&A Session Summary Question: How does the Oramed POD technology align with the company's commercial infrastructure? - Management indicated that the integration of Oramed's technology will drive synergies across med tech and biotech, enhancing the company's decentralized approach to commercialization [27] Question: What is the timeline for the upper extremity robotic assistance product? - Management stated that the product could be 510(k) exempt and expects to complete the necessary studies within 18-24 months [31][32] Question: How does the company plan to address competition in the upper extremity market? - Management acknowledged the presence of competitors but emphasized the unique approach and simplicity of their product [36] Question: Can the company quantify the backlog entering 2026? - Management noted that while the pipeline is growing, specific numbers are not available at this time, but there is a focus on the 22% growth in units year-over-year [51]

Core Insights - Vida Ventures has achieved its fourth major portfolio acquisition in 2025, marking a record-setting year for the firm with a focus on a science-led and disciplined investment strategy [2][4]. Acquisition Highlights - Halda Therapeutics was acquired by Johnson & Johnson for $3.05 billion, representing the largest acquisition ever for a Phase 1 stage company across any therapeutic area [3][6]. - Eli Lilly acquired Scorpion Therapeutics for up to $2.5 billion, enhancing its oncology portfolio with a next-generation targeted therapy platform [4][6]. - Sanofi completed its acquisition of Vigil Neuroscience for an upfront payment of $470 million, with potential contingent value rights (CVR) up to $600 million, focusing on a first-in-class TREM2 agonist for Alzheimer's disease [4][6]. - AbbVie acquired Capstan Therapeutics for a record-breaking $2.1 billion, the highest upfront payment for a company with only healthy-volunteer data [4][6]. Investment Strategy - Vida's multi-pillar investment strategy combines deep scientific expertise, disciplined capital deployment, and engagement at multiple entry points across the life sciences landscape [5][8]. - The firm focuses on recognizing differentiated mechanisms early and supporting them with technical rigor to scale value through clinical and strategic inflection points [5][8]. Future Outlook - Vida Ventures enters 2026 with strong momentum and a diversified portfolio, poised for continued clinical progress as the biotech sector becomes more data-driven and capital-efficient [8].

Core Insights - Orchestra BioMed Holdings, Inc. is set to host a business update call on November 12, 2025, focusing on significant clinical, strategic, and financing developments [1][2] Company Developments - The update will cover a strategic investment and collaboration expansion with Medtronic, a new capital relationship with Ligand, and a right of first refusal agreement with Terumo [2] - Enrollment in the BACKBEAT pivotal study of AVIM Therapy is accelerating, and patient enrollment has begun in the Virtue SAB US pivotal IDE coronary trial [2] Product Information - Orchestra BioMed's flagship products include Atrioventricular Interval Modulation (AVIM) Therapy and Virtue® Sirolimus AngioInfusion™ Balloon (Virtue SAB), both undergoing pivotal clinical trials [3] - AVIM Therapy targets uncontrolled hypertension and has FDA Breakthrough Device Designation, with an estimated 7.7 million patients in the U.S. affected [3] - Virtue SAB is a drug delivery angioplasty balloon system designed for treating atherosclerotic artery disease and has also received FDA Breakthrough Device Designation [3]

Core Insights - Alexandria Real Estate Equities, Inc. has announced the opening of Lilly Gateway Labs in San Diego, enhancing its collaborative Megacampus ecosystem aimed at biotechnology innovation [1][2][3] Company Overview - Alexandria Real Estate Equities, Inc. is a leading life science real estate investment trust (REIT) with a market capitalization of $25.7 billion and an asset base that includes 39.7 million RSF of operating properties and 4.4 million RSF of Class A/A+ properties under construction [5][6] Strategic Collaboration - The Lilly Gateway Labs operates in collaboration with Eli Lilly and Company, integrating Alexandria's real estate infrastructure with Lilly's scientific expertise and venture network [2][3] - This partnership aims to accelerate the development of early-stage biotech companies and foster collaboration between innovative biotechs and large pharmaceutical firms [3] Facility Features - The new Lilly Gateway Labs is located in a LEED Gold certified all-electric laboratory facility, featuring modular lab spaces, advanced scientific tools, and operational support services [4] - The facility is designed to support a diverse range of biotech companies focusing on various disease areas, including Alzheimer's, Parkinson's, cardiovascular diseases, and oncology [4] Ecosystem Development - Alexandria has been instrumental in developing the San Diego life science ecosystem since 1994, positioning the One Alexandria Square Megacampus as a hub for innovation and collaboration [3] - The Megacampus includes amenities such as a café, restaurant, event lawn, and proximity to renowned research institutions, enhancing the ability of tenants to attract and retain talent [3]

TABLE OF CONTENTS Registration No. 333- As filed with the Securities and Exchange Commission on August 19, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Femasys Inc. (Exact name of registrant as specified in its charter) | elaware | | --- | (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 3841 11-3713499 (I.R.S. Employer Identificatio ...

Core Insights - The city aims to enhance the biopharmaceutical industry by focusing on long-term development and innovation, emphasizing the importance of source innovation, result transformation, and project cultivation [1][2] - The city government is committed to creating a favorable industrial ecosystem to support the growth of the biopharmaceutical sector, with a focus on attracting leading enterprises and fostering local projects [2] Group 1: Industry Development Strategy - The city plans to build a biopharmaceutical innovation hub and industry cluster, enhancing confidence and focusing on key issues to strengthen the sector [1] - A spatial development framework is proposed, characterized by "one core leading, four parks collaborating, and the entire region forming a chain," aimed at increasing industry concentration and fostering flagship products and leading enterprises [2] Group 2: Innovation and Talent Support - Emphasis is placed on strengthening source innovation capabilities, optimizing enterprise innovation platforms, and accelerating the transformation of innovative results [2] - The city aims to support high-level talent development to bolster both foundational and applied research in the biopharmaceutical field [2] Group 3: Investment and Business Environment - The government is focused on attracting major biopharmaceutical enterprises and nurturing endogenous growth projects to ensure successful implementation and outcomes [2] - Continuous optimization of the business environment is planned, with regular engagement with enterprises to address their needs and develop targeted policies [2]

Table of Contents As filed with the Securities and Exchange Commission on October 10, 2023 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ORCHESTRA BIOMED HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 3841 (Primary Standard Industrial Classification Code Number) 92-2038755 (I.R.S. Employer Identificatio ...