Category: 3. Business

Zimmer Biomet employees Rickie Witte, left, and Orsa Britton, right, visited with IU researchers Amrou Awaysheh, Jill Fehrenbacher and Melissa Kacena, center from left, at the Zimmer Biomet facility in Warsaw, Indiana. Photo by James Brosher, Indiana UniversityAn interdisciplinary partnership between Indiana University researchers and orthopedic industry titans is further cementing Indiana’s position as the epicenter of musculoskeletal health innovation.

Increasing Hoosiers’ mobility so they can live more fulfilling lives is at the center of the Indiana Musculoskeletal Health Partnership for the Advancement of Care & Treatment mission. The statewide consortium, known as IMPACT, aims to restore the health of patients with osteoporosis, arthritis and other musculoskeletal disorders or injuries. The musculoskeletal system refers to the body’s structure and strength network, encapsulating bones, muscles, joints, tendons, ligaments and cartilage.

A child breaks a bone on the playground. An athlete tears a knee ligament. A senior adult can no longer live independently due to a broken hip. Musculoskeletal injuries and disorders affect all walks of life.

Through research and development, and workforce and educational training, IMPACT is advancing Indiana’s thriving orthopedic industry. The consortium collaborates with more than 100 research, industry and clinical partners statewide, including Eli Lilly, Zimmer Biomet, OrthoIndy, University of Notre Dame and Purdue University. It is expected to bring more than 2,000 jobs and $583 million in economic activity to the state.

The U.S. National Science Foundation named the consortium as a Regional Innovation Engine finalist. The competition will fund programs that build and scale regional ecosystems around critical industries that drive economic growth.

“In order for Hoosiers to have the life they want, they need to be able to move well,” said Melissa Kacena, the consortium’s principal investigator. “Whether it’s picking up your grandkids, running a marathon or being able to work, if we can’t move the way we want to, we aren’t living our best lives.”

Leading the consortium is a cross-collaborative team of IU researchers who combine expertise in clinical studies, pharmacology and supply chain management.

Kacena is the director of the IU School of Medicine’s Indiana Center for Musculoskeletal Health and a leading bone researcher. Her research focuses on developing drug technologies to accelerate bone recovery, a breakthrough that has attracted attention from NASA and the U.S. Department of Defense. Both organizations see the treatment’s potential to help astronauts preserve bone mass in space and heal soldiers recovering from explosives injuries.

Jill Fehrenbacher, a neuroscientist at the IU School of Medicine, is IMPACT’s chief learning officer. Amrou Awaysheh, a faculty member at the IU Kelley School of Business, serves as chief technology and innovation officer. Jim Lancaster, an orthopedic innovation executive, is the interim CEO.

An aging nation

Osteoporosis, arthritis, sprains, strains and fractures are common musculoskeletal disorders. Photo by Chris Meyer, Indiana University The aging U.S population is driven by the large baby boomer generation and increased life expectancy. In 2020, over 15% of people in the U.S. were 65 and older, according to the U.S. Census Bureau. One hundred years ago, less than 5% of people were 65 or older. As people live longer, the demand for orthopedic innovations increases.

A common health concern is bone fractures. According to Kacena, 50% of women and 25% of men over the age of 50 will suffer from a bone fracture in their lifetime due to low bone density.

Suffering any kind of musculoskeletal injury can have devastating effects. It’s estimated that 300,000 hip fractures occur in the U.S. each year. Studies show that 20% to 30% of elderly people who fracture a hip die within a year.

Musculoskeletal conditions are a leading cause of absenteeism in the workplace and account for nearly 20% of primary-care physician visits. In 2018, these conditions cost the U.S health care system $420 billion.

Warsaw, Indiana: The world’s orthopedic capital

IMPACT is building on the already competitive orthopedic industry in Warsaw, Indiana.

Stretching 50 miles along U.S. 30 from Warsaw to Fort Wayne, Indiana, a cluster of more than 25 medical device companies and manufacturers earned the region its fitting nickname: “MedTech Corridor.” Known as the orthopedic capital of the world, Warsaw is home to notable orthopedic manufacturers such as DePuy Synthes and Zimmer Biomet.

Warsaw’s reputation for orthopedic innovation dates to 1895, when Revra DePuy created fiber and then wire splints, a safer alternative to the barrel stave splint physicians were using. Fast forward more than a century later, and Warsaw claims almost two-thirds of the world’s market share for orthopedic devices.

“Warsaw is more than just the orthopedic capital of the world; it’s a hub for innovation, where world-class manufacturers and researchers work to advance technologies that improve mobility and quality of life for Hoosiers,” Lancaster said. “Through IMPACT, we’ll foster a thriving life sciences ecosystem and strengthen Indiana’s economy.”

Connecting IU’s expertise in musculoskeletal health with the orthopedic community in Warsaw will move musculoskeletal innovations to the marketplace quicker. Photo by James Brosher, Indiana University

Research that moves

IU researchers are working with manufacturers to ensure they can keep pace with swift technology advancements.

Through the IU Business Sustainability and Innovation Lab at the Kelley School, which Awaysheh directs, he and over 110 master’s students helped a Warsaw orthopedic manufacturer examine opportunities to leverage AI to create more responsive supply chains. This allows data collection and adaptation in real time, making processes more cost efficient, more responsive and smarter and provides physicians with more accurate implants quicker.

“Our work also extends beyond the supply chain into digitizing manufacturing,” Awaysheh said. “Think of your house. Older homes have light switches and dial thermostats. Now you see smart switches that sense when someone enters the room, and we can control the temperature remotely to only be on when the space is being used.

“These same principles are going to advance manufacturing. We can use similar concepts to digitize legacy manufacturing lines.”

Kacena is launching a mobile testing unit to make preventive care more accessible to aging and rural communities.

MSKMobile is a fully equipped mobile healthcare screening and research tool. It will travel across Indiana to test volunteers’ gait speed, grip strength, bone mineral density and other important markers of musculoskeletal health. It is an expansion of the Indiana Center for Musculoskeletal Health’s Function, Imaging and Testing Core.

Training this generation and the next

Fehrenbacher, who will develop educational and workforce training programs, said that sparking students’ STEM interest early is key.

MSKTrain, the consortium’s STEM education program, will reach students across Indiana. Warsaw has led the way with early STEM exposure, using a mobile STEM bus to bring hands-on learning to elementary schools. MSKTrain will expand that model to rural areas, aligning curriculum with state standards so teachers can integrate lessons easily into the classroom.

To ensure a skilled workforce, Fehrenbacher is exploring innovative solutions like augmented reality with haptic feedback to provide immersive, hands-on training. MSKTrain’s goal is to partner with upskilling programs at Ivy Tech Community College and OrthoWorx to provide relevant training and credentials.

“To grow Indiana’s STEM workforce, we need to spark interest early and support students through high school with tools to guide their paths,” Fehrenbacher said. “We’re also prioritizing flexible upskilling programs, like the AR training, to meet people where they are and prepare them for real jobs, faster.”

New mandates have been introduced by UK offshore trade body Offshore Energies UK (OEUK), which caps the seasonally clothed weight of staff flying out to offshore platforms at 124.7kg (which includes a 0.7kg safety margin) in order to ensure they can be winched to safety by a helicopter if necessary.

The move comes after research by OEUK found the average weight of offshore workers had risen by nearly 10kg since 2008, with as many as 2,200 workers, around 5% of the offshore workforce,  currently thought to be over the new limit

But it could leave hundreds of workers facing a race to get their weight down in time for the 1 November 2026 deadline, and those unable to do so would be banned from being able to do their jobs offshore, leaving their employment at risk.

Natalie Walker, a regulatory expert with Pinsent Masons in Aberdeen, said the new restrictions mean that offshore companies will need to give greater focus to their staff’s wellbeing.

“Companies will need to carefully adhere to the new policy given the strict limit on medical certification,” she said. “Failing to comply puts them at risk of not being able to deploy their staff offshore, so supporting staff and ensuring they are under the cut-off will benefit everyone involved and save unnecessary losses.”

The policy has been put in place after consultation and research with helicopter and offshore providers and the coastguard, and began on 1 November 2025, with an introductory phase designed to raise awareness of the problem running until 31 January 2026.

After that a transition phase will run from 1 February 2026 until the end of October, during which time workers over the limit will have six months to cut weight to a level where, including their clothing for the helicopter flight out, they are under 124kg.

After 1 November 2026 anyone who fails weight tests at their medical or mobilisation will not be able to travel offshore and will not get an OEUK medical certificate. Those who are marginally under will have their offshore certification reduced, with those between 120.1kg and 124kg at medical examination being certified for up to three months, and those between 115kg and 120kg getting a reduced-duration medical certificate for up to six months.

OEUK said this was to encourage weight loss among workers at the top end of the limits. Energy industry workers body Step Change in Safety will be providing healthy living information to members over the rest of 2025, with offshore industry businesses encouraged to provide weight loss support for staff.

Gillian Harrington, an employment law expert with Pinsent Masons in Aberdeen, said getting the introductory phase of the new weight limits regime right was critical to minimising both legal and operational risks.

“The worst-case scenario is that workers who do not meet the new limits may be unable to work offshore,” she warned. “This could lead to claims of unfair dismissal, disability discrimination, and even indirect sex discrimination, as men are statistically more likely to be affected. Employers can reduce these risks by offering practical support, engaging with employees about their individual circumstances, and clearly explaining the health and safety rationale behind the policy. Demonstrating that fair and objectively justifiable processes have been followed will be key.”

“Beyond legal considerations, the bigger challenge is retaining skilled workers who are hard to replace. Helping as many employees as possible to meet safe weight limits will be a significant priority for offshore employers in 2026,” she said.

Joint venture to deliver up to 1 GW of AI infrastructure by 2030, starting with a 100 MW deployment in the Kingdom of Saudi Arabia to power the Global AI ecosystem with cost-efficient, high-performance infrastructure

News Summary

• AMD, Cisco and HUMAIN to invest in a joint venture and serve as its exclusive technology partners, deepening their multi-year strategic collaboration announced in May during U.S. President Donald J. Trump’s visit to the Kingdom of Saudi Arabia.
• The joint venture plans to deploy up to 1 GW of AI infrastructure by 2030, with the shared ambition to expand capacity to multiple gigawatts, as a key pillar of HUMAIN’s overall ambitions.
• This joint venture is expected to begin operations in 2026, with a phase 1 deployment of 100 MW planned, powered by HUMAIN modern data center capacity, AMD Instinct™ MI450 Series GPUs and Cisco critical infrastructure solutions.

 

WASHINGTON, D.C. – November 19, 2025 – AMD, Cisco and HUMAIN, a PIF company delivering global full-stack AI solutions, announced today plans to establish a joint venture aimed to support the development of Saudi Arabia’s position as a leading provider of world-class AI solutions for regional and global customers.

AMD, Cisco and HUMAIN will serve as founding investors in the joint venture, which is expected to begin operations in 2026 with plans to combine HUMAIN’s state-of-the-art data centers with AMD and Cisco technology, delivering modern data center capacity with efficient power and lower capital expenditures. AMD and Cisco will act as exclusive technology partners to the joint venture, contributing their portfolio of products and services to its development of up to 1 GW of AI infrastructure by 2030.

The companies also announced the first phase of the project as a buildout of 100 MW AI infrastructure, with the intent to include HUMAIN modern data center capacity, AMD Instinct™ MI450 Series GPUs and Cisco’s industry-leading critical infrastructure.

Powering the Kingdom of Saudi Arabia’s AI Driven Economy

Earlier this year, Cisco and AMD announced a landmark initiative with HUMAIN to help build the world’s most open, scalable, resilient and cost-efficient AI infrastructure. Today’s announcement advances this partnership with plans for a joint venture to accelerate transformation and provide cost-effective infrastructure to power customers’ AI use cases.  

Dr. Lisa Su, Chair and CEO of AMD, said: “Delivering high-performance global AI infrastructure at scale requires strong partnerships.  Together with HUMAIN and Cisco, we’re combining leadership compute and networking technologies to expand the capacity and global competitiveness of the Kingdom’s AI ecosystem. As part of this deepening collaboration, we’re also establishing an AMD Center of Excellence in Saudi Arabia to further accelerate local integration and innovation.”

Chuck Robbins, Chair and CEO of Cisco said: “Our expanded partnership with HUMAIN, together with AMD, will mark a pivotal moment in accelerating Saudi Arabia’s AI infrastructure. By providing secure, scalable, critical infrastructure for HUMAIN’s up to 1 GW buildout, Cisco will help the Kingdom turn its vision for a digitally advanced, AI-powered economy into a reality.”

Tareq Amin, CEO of HUMAIN said: “Our partnership with AMD and Cisco brings world-class technology and expertise to our mission. Together, we are pushing the frontier of AI compute, bringing up to 1 GW of high-performance, cost-efficient infrastructure online in the Kingdom of Saudi Arabia to empower innovators both in the Kingdom and around the world.”

The collaboration reflects the ambition to create a dynamic, AI-driven economy. Cisco’s latest AI Readiness Index shows that while 91% of Saudi organizations plan to deploy AI agents, only 29% currently have robust GPU capacity, highlighting the urgent need for advanced data center infrastructure.

These findings point to an urgent need for the scalable, high-performance AI infrastructure which AMD, Cisco and HUMAIN are building together. The collaboration is not only expected to deliver the compute capacity required for AI at scale but also strengthens the foundations of Saudi Arabia’s digital economy, supporting goals to localize innovation, talent, and technology.

 

About AMD

For more than 55 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD)  website, blog, LinkedIn, Facebook and X pages.

 

AMD Cautionary Statement

This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, the expected timing and formation of the joint venture, AMD’s and the joint venture’s expected future plans, benefits, strategies, and performance; the expected benefits from the collaboration among the parties; the expected benefits from the establishment of the AMD Center of Excellence in Saudi Arabia; and the features, functionality, performance, availability, timing and expected benefits of future AMD products, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as “would,” “may,” “expects,” “believes,” “plans,” “intends,” “projects” and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import tariffs, trade protection measures and licensing requirements;  competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD’s ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD’s ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD’s products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD’s ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD’s reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD’s reliance on Microsoft and other software vendors’ support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD’s supply chain; AMD’s ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of climate change on AMD’s business; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; impact of acquisitions, joint ventures and/or strategic investments on AMD’s business and AMD’s ability to integrate acquired businesses, including ZT Systems; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain key employees; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.

 

About Cisco

Cisco (NASDAQ: CSCO) is the worldwide technology leader that is revolutionizing the way organizations connect and protect in the AI era. For more than 40 years, Cisco has securely connected the world. With its industry-leading AI-powered solutions and services, Cisco enables its customers, partners, and communities to unlock innovation, enhance productivity, and strengthen digital resilience. With purpose at its core, Cisco remains committed to creating a more connected and inclusive future for all.

Discover more on The Newsroom and follow us on X at @Cisco.

 

Cisco Forward-Looking Statements

This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, among others, statements regarding Cisco’s or the joint venture’s future business performance, strategies, or expectations, including the anticipated timing, consummation and expected benefits of the joint venture. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the ability of Cisco or the joint venture to achieve expected benefits of their investments, business and economic conditions and growth trends, increased competition, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco’s most recent reports on Form 10-K and 10-Q, respectively. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.

 

About HUMAIN

HUMAIN, a PIF company, is a global artificial intelligence company delivering full-stack AI capabilities across four core areas: next-generation data centers, hyper-performance infrastructure & cloud platforms, advanced AI Models, including the world’s most advanced Arabic LLMs built in the Arab world, and transformative AI Solutions that combine deep sector insight with real-world execution. 

 

HUMAIN’s end-to-end model serves both public and private sector organizations, unlocking exponential value across all industries, driving transformation and strengthening capabilities through human-AI synergies. With a growing portfolio of sector-specific AI products and a core mission to drive IP leadership and talent supremacy world-wide, HUMAIN is engineered for global competitiveness and national distinction. 

www.humain.com

 

Forward-Looking Statement

This press release contains forward-looking statements based on current expectations and assumptions. Actual results may differ materially due to uncertainties. HUMAIN undertakes no obligation to update these statements.

www.humain.com

Press contact

Hana Nemec, HUMAIN

pr@humain.com

Agreement Executed Under Tawazun Economic Programme’s Umbrella

DUBAI AIRSHOW – 19 November 2025 – Tawazun Council for Defence Enablement, EPI, an entity of EDGE Group and the cornerstone of precision engineering in the UAE’s aerospace, oil and gas, and defence industries, and General Atomics Aeronautical Systems, Inc. (GA-ASI), a leader in advanced aerospace technology for unmanned aircraft systems (UAS), have signed a framework agreement to manufacture Electronic Brake Control Units (eBCU) in the UAE.

The collaboration is enabled by the UAE Tawazun Economic Programme (the Offset), which is overseen by Tawazun Council for Defence Enablement. The programme aims to generate lasting value for the national economy by driving innovation, sustainability, and resilience, while supporting various stakeholders of the sector, and aligning defence priorities with broader industrial and technological development objectives.

Through the framework agreement, EPI and GA-ASI will jointly manufacture and repair eBCUs, a cutting-edge technology designed to replace legacy hydraulic braking systems for both civilian and defence applications.

“Tawazun Council for Defence Enablement continues to drive transformative initiatives that harness capabilities across the full spectrum of advanced manufacturing. By leveraging strategic partnerships, we are contributing to sustainable value creation for the national economy and fostering a robust ecosystem of precision engineering and cutting-edge defence technologies that position the UAE as a regional hub for high-value manufacturing excellence,” said Majed Saif Al Shamsi, Executive Director of the Economic Programme at Tawazun.

“We are committed to building the foundations for sustainable industrial growth, knowledge transfer, and technological self-reliance that will define the UAE’s pioneer in defence and advanced manufacturing,” he added.

Michael Deshaies, CEO of EPI, said: “This collaboration with General Atomics, enabled by the Tawazun Council for Defence Enablement, marks a significant step in advancing the UAE’s aerospace industry. It strengthens our drive towards full vertical integration, enhances In-Country Value, and ensures comprehensive aftermarket support for this next-generation intelligent primary braking system.”

“Electronic braking represents a transformative advancement in aviation technology,” said GA-ASI President David R. Alexander. “Our product will offer a compact design, superior performance, environmental benefits, and reduced maintenance requirements. This breakthrough technology is set to become the standard for modern aircraft, driving innovation and sustainability across the aerospace sector.”

This partnership reinforces all parties’ commitment to fostering technological growth and economic development in the UAE while contributing to the global evolution of aviation technology.

About GA-ASI

General Atomics Aeronautical Systems, Inc., is the world’s foremost builder of Unmanned Aircraft Systems (UAS). Logging more than 9 million flight hours, the Predator® line of UAS has flown for over 30 years and includes MQ-9A Reaper®, MQ-1C Gray Eagle®, MQ-20 Avenger®, and MQ-9B SkyGuardian®/SeaGuardian®. The company is dedicated to providing long-endurance, multi-mission solutions that deliver persistent situational awareness and rapid strike.

For more information, visit www.ga-asi.com

Avenger, EagleEye, Gray Eagle, Lynx, Predator, Reaper, SeaGuardian, and SkyGuardian are trademarks of General Atomics Aeronautical Systems, Inc., registered in the United States and/or other countries.

I. Proposed Four-Category Framework

Commissioner Atkins outlined four principal categories:

1. Digital Commodities 

Assets whose value is tied to the operation of a functional, decentralized protocol, rather than to managerial promises or the issuer’s ongoing efforts. The Commissioner stated that “essential managerial efforts” require “explicit and unambiguous representations,” signaling that the absence of such representations may support treatment as a non-security.

2. Digital Collectibles

Tokens “designed to be collected,” including digital art, media, and similar items (aka NFTs). Where purchasers are not relying on managerial or entrepreneurial efforts for financial return, such assets are not viewed as securities.

3. Digital Tools

Tokens providing practical functionality, such as access rights, credentials, identity features, or membership. Where the token operates as an instrument of use rather than an investment, securities regulation would not apply.¹

 

Article Content

The emergence of cancer drug resistance remains one of the most pressing problems in cancer care and there is a critical need to devise approaches to mitigate it. However, the molecular mechanisms driving treatment resistance are poorly understood, hindering efforts to devise new treatment strategies which prevent resistance. Now, researchers at the University of California San Diego have found a paradoxical new way in which cancer cells survive and regrow after targeted therapy: by hijacking an enzyme that is typically only switched on during cell death.

“This flips our understanding of cancer cell death on its head,” said senior author Matthew J. Hangauer, Ph.D., assistant professor of dermatology at UC San Diego School of Medicine and Moores Cancer Center member. “Cancer cells which survive initial drug treatment experience sublethal cell death signaling which, instead of killing the cell, actually helps the cancer regrow. If we block this death signaling within these surviving cells, we can potentially stop tumors from relapsing during therapy.”

About one in six deaths worldwide are caused by cancer. Many of these deaths are ultimately attributable to acquired resistance following an initially positive treatment response. Cancer typically develops resistance to treatment through mutations over months to years, similar to how bacteria can evolve resistance to antibiotics over time. These mutations are difficult to treat with limited available drug combinations. However, the newly-discovered mechanism focuses on the earliest stages of resistance, which do not rely on genetic mutations, making it an attractive new target for future treatments.

“Most research on resistance focuses on genetic mutations,” said first author August F. Williams, Ph.D., a postdoctoral fellow in the Hangauer lab at UC San Diego. “Our work shows that non‑genetic regrowth mechanisms can come into play much earlier, and they may be targetable with drugs. This approach could help patients stay in remission longer and reduce the risk of recurrence.”

In the new study, the researchers found:

• In models of melanoma, lung and breast cancers, a subset of “persister” cells that survive treatment displayed chronic, low-level activation of a protein that dismantles DNA as a part of normal cell death, called DNA fragmentation factor B (DFFB).
• This DFFB activation is at a level too low to kill the cells, but high enough to interfere with the cells’ ability to respond to signals suppressing their growth.
• Removing this protein keeps cancer persister cells dormant and prevents their regrowth during drug treatment.
• DFFB is nonessential in normal cells, yet is required for regrowth cancer persister cells, making it a promising target for combination treatments to extend responses to targeted therapy.

The study was published in Nature Cell Biology and funded, in part, by grants from the Department of Defense, the National Institutes of Health and the American Cancer Society. Hangauer is a cofounder, consultant and research funding recipient of BridgeBio subsidiary Ferro Therapeutics.

On 20 October 2025, the FCA published key observations from a multi-firm review and survey responses, focusing on: 

1. financial crime controls; and
2. client categorisation (COBS3) and certification requirements (COBS4). 

These findings will interest all FCA regulated firms doing corporate finance business. Compliance gaps across firms are highlighted, and these findings serve as an urgent call for firms to review and consider whether they need to enhance their internal frameworks. 

1. Addressing financial crime control gaps

The FCA’s survey on financial crime controls revealed that about two-thirds of corporate finance firms (CFFs) may not be fully compliant with the Money Laundering Regulations (MLRs) in one or more elements of their frameworks.

Key areas identified for improvement include:

• Business-wide risk assessments. The FCA explicitly reminds firms that they must have documented business-wide risk assessments in place under the MLRs.
• Customer risk assessment (CRA) and Customer Due Diligence (CDD). Firms must maintain CRA forms for clients (even those with whom they have enduring and close business relationships) and records of CDD (and enhanced due diligence where appropriate).
• Ongoing monitoring. The FCA highlights that even if firms do not handle client funds directly, they should assess the sources of all received payments (e.g., engagement fees and other administrative payments) and periodically review client relationships to ensure compliance, as required by the MLRs.
• Oversight of appointed representatives (ARs). Survey responses were particularly concerning with respect to ARs. The FCA reminds principal firms that they must properly supervise the regulated activities carried out by ARs and urges them to implement specific policies to manage the financial crime risks (e.g., financial crime risk assessments, on-site visits or audits).

Areas of good practice were also highlighted such as regular reporting to senior management regarding financial crime matters, using customer risk assessment forms, maintaining risk registers and using detailed management information to strengthen crime controls.

2. Refining client categorisation practices

The FCA’s review of COBS3 and COBS4 compliance also identified gaps in firms’ assessments and records related to client categorisation and compliance with certification requirements.

Key areas identified for improvement include:

• Conducting and documenting client assessments. Many firms adopted a “superficial approach” to client categorisation or applied invalid or not clearly defined criteria to assess “professional clients”, “eligible counterparties” and “elective professionals”. The FCA recommends firms use a clear process to record structured assessments in defined documents (e.g., the New Business Committee form) that clearly outline how clients meet COBS3 criteria when onboarding and retaining relevant supporting documents. Compliance reviews should then be periodically undertaken (especially where clients engage firms on subsequent transactions). In addition, clear processes should be in place for reviewing client responses and representations.
• Categorising corporate finance contacts. Although many CFFs maintained a list of contacts, there was often not a clear process for assessing their client category, either when adding them to the list or before communicating a financial promotion. The FCA found that firms often relied on ‘feel’ rather than formal assessments. The FCA suggests firms have a clear process for adding, assessing, verifying, and periodically reviewing an organised contact list. In addition, firms must retain records and supporting documentation. Firms must also make the contact aware in a clear and unambiguous way, at multiple points throughout the onboarding and transaction lifecycle, that they are not a client of the firm (only a contact) and will not be afforded protections that a client would.
• Certifying retail investors. Firms showed a lack of clarity regarding whether FCA financial promotion rules (COBS4) or Financial Promotion Order exemptions were being relied upon for marketing investments to investors who are certified high net worth or self-certified sophisticated. These rules differ in scope, application and requirements – crucially, the relevant investor statements to use are different. Firms must have clear systems and processes to: (A) identify the investment category and applicable COBS4 requirements for certification; (B) form a reasonable belief that a completed and signed statement exists (and that the potential investor satisfies the conditions therein); and (C) renew such statements every 12 months.
• Tailoring policies and procedures. The FCA noted that many firms had policies that were incomplete, fragmented, or high-level. These policies were often not tailored to their business model and/or lacked distinction between clients. Policies must be tailored to the firm’s business model, detailing regulatory permissions and how relevant COBS3 and COBS4 rules are met. Flowcharts, diagrams and templates should be used to cover the entire process lifecycle.

On 29 October 2025, the Court of Appeal in Linear Investments Ltd v Financial Ombudsman Service Ltd confirmed that firms must go beyond tick-box compliance when classifying clients as elective professionals under COBS. The Court upheld the FOS’s use of a lower-risk benchmark to calculate redress given the client’s lack of experience and the firm’s failure to assess suitability, but found that the FOS had failed to consider contributory negligence. Please see our blog post for more details.

3. Next Steps

The FCA intends to use these findings for supervisory guidance and will intervene where firms fall short. It is crucial for firms to review and update their current practices in light of these detailed observations.

The FCA also plans to update the COBS3 client categorisation rules across all regulated firms (not just CFFs) and will consult shortly on proposals to address the feedback to CP24/24 about modernising the COBS3 rules.