Student-run startup receives $2.2 million investment | The Daily Campus

A student-run startup at the University of Connecticut has received $2.2 million from the Peter J. Werth Institute for Entrepreneurship and Innovation. This is the largest investment in a student business the Werth Institute has given to date.

The startup is Bastion Health, a men’s health venture. Bastion functions as an app-based ecosystem designed to nurture men’s health. This covers things like education, telehealth visits and lifestyle tracking.

Bastion was founded by Reza Amin and Khashayar Dashti. Amin is a UConn graduate student in the School of Engineering’s Master of Engineering in Global Entrepreneurship program. The company is based at UConn’s Technology Incubation Program (TIP) facility at UConn Health in Farmington.

The app will also feature diagnostic technology developed by Amin. This technology allows a user to test their fertility with their smartphone.

In December 2017, Peter J. Werth’s $22.5 million commitment to UConn established the Werth Institute. Werth is a philanthropist and founder and CEO of ChemWerth, Inc. This gift also meant Werth got a dorm named in his honor: the Peter J. Werth Tower, home to eight of UConn’s learning communities.

The telehealth portion of the app ecosystem is expected to launch in the near future. Amin’s smartphone testing technology will take longer to integrate as it requires FDA approval.

In addition to UConn, Bastion has also received support from Yale, MassChallenge, CTNext and Webster Bank.

More information about Bastion can be found at getbastion.com.

SMS Lifesciences India Ltd to divest partial stake in Mahi Drugs Pvt Ltd | EquityBulls

The Board of Directors of SMS Lifesciences India Ltd at their Meeting held on November 30, 2021, have considered and approved the disinvestment of partial equity shareholding of Mahi Drugs Private limited, a wholly owned subsidiary of the Company, not exceeding 10% in Mahi Drugs Private Limited, by way of sale of equity shares held by the Company, to ChemWerth Inc., USA, Strategic Investor (“Proposed Transaction – 1”).

The board approved raising fresh equity in Mahi Drugs Private Limited, on Private Placement basis, to ChemWerth Inc., USA and its Associates (“Proposed Transaction – 2”).

Upon completion of the transactions, Mahi Drugs will cease to be a wholly-owned subsidiary of the Company, but shall continue as a Subsidiary Company with 60% stake of the post issued capital, with the Company.

The proposed transaction is likely to enhance the value for the various stakeholders.

Shares of SMS Lifesciences India Limited was last trading in BSE at Rs. 870.55 as compared to the previous close of Rs. 845.20. The total number of shares traded during the day was 540 in over 61 trades.

The stock hit an intraday high of Rs. 879.00 and intraday low of 857.80. The net turnover during the day was Rs. 467967.00.

 

Source : Equity Bulls