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Richmond, VA, July 22, 2025 (GLOBE NEWSWIRE) — Phlow Corp., a leading American pharmaceutical contract development and manufacturing organization (CDMO), today announced the successful close of its Series C financing round at an increased valuation from previous funding. The $37 million raise supports the Company’s mission of helping brilliant minds bring medicines to life through advanced development and manufacturing in America. The growing Company’s Series C round was led by Align Private Capital LLC, a woman-owned investment firm which manages private family office direct investment vehicles, and was supported by additional new and follow-on investors.

The funds raised will accelerate Phlow’s expansion across its U.S.-based development, manufacturing, and digital infrastructure, with a focus on scaling technology-driven innovation, including AI-powered systems and next-generation pharmaceutical manufacturing technologies. This growth will strengthen domestic production of Key Starting Materials (KSMs) and Active Pharmaceutical Ingredients (APIs), helping restore America’s pharmaceutical sovereignty. To date, Phlow has raised over $93 million in private capital, alongside more than $600 million in awarded government contracts.

“Raising funds in today’s capital market environment remains very challenging. This investment demonstrates the confidence that both new and existing investors have in our vision” said Dave Ryan, Chief Financial Officer of Phlow, “Together, with our bold and purpose-driven partners, these funds will permit us to continue to revolutionize the science behind life-changing medicines and improve the health of our nation, a focus over the last five years that has led to significant growth for our business and value creation for our investors. We are excited to work with the Align team to continue executing our vision.”

7/17/2025 – Gwendolyn Wu – Even before HSBC’s report, there were signs of a biotech funding slowdown.

Research the investment bank Jefferies published in May and again in June found a substantial pullback in financing in public companies. Private rounds tracked by BioPharma Dive have gotten larger, but are fewer in number, too, as venture firms appear to be favoring surer bets. Initial public offerings have largely been on pause since the middle of February.

HSBC’s findings detail the fallout for drug startups more specifically. A combination of worries over pharmaceutical tariffs, research funding cuts and leadership changes at public health agencies drove a slump that led to startups’ worst quarter in terms of seed or Series A funding rounds since 2023, according to Jonathan Norris, a managing director at HSBC Innovation Banking.

The uncertainty has made investors more conservative, prompting them to shy away from smaller deals and band together for larger fundings, such as “megarounds” of $100 million or more. These investments allow companies to “get almost three traditional rounds” through one financing, Norris said.

Yet even megarounds dipped from 21 over the first three months to 16 between April and June. And along with that decline, the so-called crossover investors that often support the rounds preceding an IPO retreated from biotech venture deals. Only two of the top eight rounds included new crossover investors, a decline from each of the last two years.

“Many crossover investors are at their own proverbial crossroads, with too many private investments that have yet to IPO and many public companies struggling with low market caps,” Norris wrote in the report.

Their disappearance is, in part, due to the poor performance of companies that went public in 2024. The median stock price decline for last year’s class was 70% at the end of the first half, according to HSBC.

One bright spot is a steadier pace of M&A deals for private companies, which give venture capital firms another chance at investment returns. Last year, 17 drug startups were acquired — the highest total since 2020 — and buyouts are proceeding at a similar pace in 2025. Those deals prove “you can still get to an exit with early data in the right space,” Norris said.

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Planning is well underway for BioHealth Capital Region Week 2025, and hundreds of attendees have already registered for the Forum taking place September 23–25 at US Pharmacopeia in Rockville, Maryland. Now in its 11th year, this free, three-day event brings together the people shaping the future of biohealth, including industry leaders, entrepreneurs, investors, government officials, and academic researchers, for insight, collaboration, and deal-making.

With this year’s theme, “Where Human and Artificial Intelligence Converge in the BioHealth Industry,” the program offers a timely look at how new technologies are transforming the entire innovation pipeline—from early-stage research through commercialization and patient impact.

The week opens with the BioHealth Capital Region Forum on September 23 and 24. This two-day event will feature keynote speakers, panels, and networking focused on industry trends, workforce strategies, and the impact of AI on research, development, and clinical decision-making. Whether you’re looking for policy updates, partnering opportunities, or inspiration, the Forum delivers valuable insight and access. Register today at https://bit.ly/BHCRWeek2025.

On September 24, the Crab Trap pitch competition returns for its 10th year, providing a platform for emerging companies to present their innovations to a panel of investors and strategic leaders. This year’s winner will receive a prize package, including a cash award (to be announced soon), $10,000 in CRO services from Noble Life Sciences and Accelevir, and a $25,000 IT and cybersecurity services credit from InfoPathways. Applications are open through August 29 at https://bit.ly/CrabTrap2025.

The week concludes with the BioHealth Capital Region Investment Conference on September 25. Designed to drive investor-startup engagement, the event features curated one-on-one meetings, startup quick-pitches, and opportunities to connect with some of the most promising companies in the region. It’s the best way to meet VCs, angels, and strategic partners seeking the next big thing in biohealth. Register at https://bit.ly/BHCRIC2025.

Thanks to the support of generous sponsors, all events are free to attend, but space is limited, and demand is growing. We are grateful to the organizations that have already committed to supporting this year’s programming and encourage others to consider joining them. Sponsorship includes visibility across all events and access to exclusive networking, including the VIP Leadership Dinner. For details, reach out to Rich Bendis at rbendis@biohealthinnovation.org or Andy Eckert at aeckert@biohealthinnovation.org.

Whether you’re an investor, entrepreneur, researcher, or policy leader, BioHealth Capital Region Week is your opportunity to engage with the people and ideas driving the future of healthcare innovation. We hope to see you there.

COLLEGE PARK, MD – July 15, 2025 – IonQ (NYSE: IONQ), a leading commercial quantum computing and networking company, today announced the completion of its acquisition of Capella Space Corporation, an American space tech company with synthetic aperture radar (SAR) and satellite solutions for government and commercial applications.

The closing marks a significant step in IonQ’s mission to develop the world’s first space-to-space and space-to-ground satellite quantum key distribution (QKD) network, enabling quantum-secure global communications.

With the acquisition now finalized, IonQ will begin developing a space-based QKD network by integrating Capella’s satellite infrastructure with its quantum technology. Once complete, this QKD network will enable secure communications that prevents encryption keys from being intercepted or copied without detection. It will also serve as a platform for additional quantum networking and sensing growth vectors. Capella customers will have access to rapid, ultra-secure SAR and remote sensing through the first quantum-enabled Earth observation platform.

“We have an exceptional opportunity to accelerate our vision for the quantum internet, where global QKD will play a foundational role in enabling secure communications,” said Niccolo de Masi, CEO of IonQ. “The integration of Capella’s advanced space-based platform and proven constellation of deployed satellites – along with IonQ’s quantum technologies – is expected to bolster commercial applications, global defense, and intelligence missions.”

“Capella has been a long-time pioneer in space technology and we can now take actionable steps to push the boundaries further by building the first quantum-enabled Earth observation platform,” said Frank Backes, CEO of Capella. “We’re excited to be joining the IonQ team on this new journey.”

This acquisition, along with the previously announced ID Quantique agreement, strengthens IonQ’s position in advancing quantum networking technologies that are essential for building the quantum internet. This news builds on recent quantum networking contracts with the Applied Research Laboratory for Intelligence and Security (ARLIS) and the U.S. Air Force Research Laboratory (AFRL).

About IonQ
IonQ, Inc. (NYSE: IONQ) is a leading commercial quantum computing, quantum networking, and quantum applications company, delivering high-performance systems aimed at solving the world’s most complex problems. IonQ’s current generation quantum computers, IonQ Forte andIonQ Forte Enterprise, are the latest in a line of cutting-edge systems that have been helping customers and partners such as Amazon Web Services, AstraZeneca and NVIDIA achieve 20x performance results. The company is accelerating its technology roadmap and intends to deliver the world’s most powerful quantum computers with 2M qubits by 2030 to accelerate innovation in drug discovery, materials science, financial modeling, logistics, cybersecurity and defense. IonQ’s advancements in quantum networking also positions the company as a leader in building the quantum internet.

The company’s innovative technology and rapid growth were recognized in Newsweek’s 2025 Excellence Index 1000, Forbes’ 2025 Most Successful Mid-Cap Companies list, and Built In’s 2025 100 Best Midsize Places to Work in Washington DC and Seattle, respectively. Available through all major cloud providers, IonQ is making quantum computing more accessible and impactful than ever before. Learn more at IonQ.com

IonQ Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “accelerate,” “achieve,” “advancing,” “building,” “enabling,” “expected,” “intends,” “mission,” “opportunity,” “pioneer,” “position,” “push,” “support,” “vision,” “will” and other similar expressions are intended to identify forward-looking statements. These statements include those related to IonQ’s acquisition of, and partnerships with, other quantum computing companies, IonQ’s ability to effectively consummate and integrate such acquisitions and partnerships and the expected benefits thereof. IonQ’s quantum computing capabilities and plans; IonQ’s technology driving commercial quantum advantage or delivering scalable, fault-tolerant quantum computing in the future; the relevance and utility of quantum algorithms and applications run on IonQ’s quantum computers; the success of partnerships and collaborations between IonQ and other parties, including development and commercialization of products and services with such parties; the necessity, effectiveness, and future impacts of IonQ’s offerings available today; and the scalability, fidelity, efficiency, viability, accessibility, effectiveness, importance, reliability, performance, speed, impact, practicality, feasibility, and commercial-readiness of IonQ’s offerings. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: IonQ’s ability to implement its technical roadmap; changes in the competitive industries in which IonQ operates, including development of competing technologies; IonQ’s ability to deliver, and customers’ ability to generate, value from IonQ’s offerings; IonQ’s ability to deliver higher speed and fidelity gates with fewer errors, enhance information transfer and network accuracy, or reduce noise and errors; IonQ’s ability to sell effectively to government entities and large enterprises; changes in laws and regulations affecting IonQ’s and its suppliers’ businesses; IonQ’s ability to implement its business plans, forecasts, roadmaps and other expectations, to identify and realize partnerships and opportunities, and to engage new and existing customers; IonQ’s ability to effectively enter new markets; IonQ’s ability to deliver services and products within currently anticipated timelines; IonQ’s inability to attract and retain key personnel; IonQ’s customers deciding or declining to extend contracts into new phases; the inability of IonQ’s suppliers to deliver components that meet expectations timely; changes in U.S. government spending or policy that may affect IonQ’s customers; and risks associated with U.S. government sales, including availability of funding and provisions that allow the government to unilaterally terminate or modify contracts for convenience; changes in laws and regulations affecting IonQ’s patents; and IonQ’s ability to maintain or obtain patent protection for its products and technology, including with sufficient breadth to provide a competitive advantage. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the Company’s filings, including but not limited to those described in the “Risk Factors” section of IonQ’s most recent periodic financial report (10-Q or 10-K) filed by IonQ with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. IonQ does not give any assurance that it will achieve its expectations. IonQ may or may not choose to practice or otherwise use the inventions described in the issued patents in the future.

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