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San Jose-based Allay Therapeutics has secured $57.5 million in a Series D financing round led by Lightstone Ventures and Temasek’s ClavystBio, with participation from existing and new investors. The funds will support a Phase 2b trial for ATX101, an investigational analgesic for post-surgical pain management in knee replacement patients, with results expected in Q4 2025. This investment reflects growing interest in the pain management market, projected to reach $109.9 billion by 2028, and highlights a shift towards non-opioid therapies amid changing regulatory landscapes.
The U.S. Treasury Department has urged the Bank of Japan (BOJ) to continue tightening its monetary policy to address the yen's weakness and promote a rebalancing of trade. The report highlights that Japan's ultra-low interest rates contribute to the yen's depreciation against the dollar, with the BOJ's gradual rate hikes being closely monitored. Despite recent increases, economists expect the BOJ to maintain steady rates through September, with a potential hike by year-end.
Gamers are eagerly lining up for the launch of the Nintendo Switch 2, anticipating high demand. However, a global shortfall is expected, raising concerns about availability for fans worldwide. The excitement surrounding the release highlights the console's anticipated popularity.
Japan plans to propose enhanced cooperation with the U.S. on rare earth supply chains during upcoming tariff negotiations, influenced by recent Chinese export restrictions. The U.S. has shown willingness to reduce some tariffs, including the suspended 14% on Japanese goods, as Japan's chief tariff negotiator heads to Washington for discussions. Japan continues to push for a review of U.S. tariff policies, particularly the 25% levies on Japanese vehicles, crucial to its economy.
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SMBC Nikko Securities has made a strategic investment in Hashed Ventures’ blockchain fund, marking a significant shift in Japan's financial landscape towards Web3 opportunities. This collaboration, facilitated by the Nikko Open Innovation Lab, reflects a growing trend of institutional adoption of blockchain technology in Japan, supported by recent regulatory advancements. The partnership aims to connect Japanese cultural heritage with global NFT initiatives, showcasing a unique approach to digital asset tokenization.
Singapore-based insurtech firm Bolttech has raised $147 million in a Series C funding round, boosting its valuation to $2.1 billion. The funding, led by Dragon Fund and supported by investors like Sumitomo Corporation and Iberis Capital, will enhance Bolttech's R&D in insurance technology and facilitate its expansion into Africa and North America.The embedded insurance market is rapidly growing, projected to reach $950.59 billion by 2030, significantly outpacing traditional models. Bolttech's partnerships with major companies like Apple and Samsung exemplify the shift towards a platform-based ecosystem, transforming insurance distribution and customer experience through advanced data analytics and AI.
Nintendo is set to launch the Switch 2 on Thursday, with midnight parties planned and over 2.2 million pre-orders in Japan, signaling a potential record-breaking debut. Priced at $449.99, the new console features enhanced capabilities but faces challenges, including high costs and supply issues. Analysts predict strong initial sales, though sustaining momentum may be difficult amid tariff uncertainties and rising game prices.
AI hosts are making their way into Indonesia's live commerce scene, but viewer backlash is significant, with many calling for a boycott in favor of human livestreamers. While there is potential for AI in this space, adoption is hindered by costs and public sentiment, creating a challenging environment for innovation.
Japanese stocks rebounded on Wednesday, with the Nikkei 225 Index rising 0.8% amid hopes for a trade deal with China that could benefit the tech sector. The yen's decline supported exporters, while semiconductor stocks surged, driven by expectations of strong AI-related demand. However, Toyota Industries fell 12% after Toyota Motor announced plans to take it private for $33 billion, significantly less than earlier estimates.
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Allay Therapeutics secures 57.5 million for innovative pain management trial
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