Wesco International Inc
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Industrials : Trading Companies & Distributors | Mid Cap Blend
Company profile

WESCO International, Inc. is a provider of business-to-business distribution, logistics services and supply chain solutions. The Company conducts its business through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS) and Utility & Broadband Solutions (UBS). The EES segment supplies a range of products and solutions primarily to the construction, industrial and original equipment manufacturer (OEM) markets. Its EES segment supplies various products, including electrical equipment and supplies, automation and connected devices (the Internet of Things), security, lighting, wire and cable, safety, and maintenance, repair and operating (MRO) products. Its CSS segment operates in the network infrastructure and security markets. The UBS segment provides products and services to investor-owned utilities, public power companies, including municipalities, as well as global service providers, wireless providers and broadband operators.

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Today's volume of 264,395 shares is on pace to be much lighter than WCC's 10-day average volume of 708,643 shares.


iVexSol(R) Closes $23.8M Series A-3 Financing; Funds to Revolutionize the Production of Lentiviral Vectors

8:00 am ET January 26, 2023 (Globe Newswire) Print
iVexSol(R) Closes $23.8M Series A-3 Financing; Funds to Revolutionize the Production of Lentiviral VectorsGlobeNewswireJanuary 26, 2023

LEXINGTON, Mass., Jan. 26, 2023 (GLOBE NEWSWIRE) -- iVexSol Inc., a technology-based lentiviral vector (LVV) contract development and manufacturing organization (CDMO), announced $23.8 million in Series A-3 funding. New investors Bristol Myers Squibb (NYSE: BMY), Charles River Laboratories (NYSE: CRL) and Asahi Kasei Medical, a division of Asahi Kasei (NYSE: AHKSY), join existing investors which include Casdin Capital and BioLife Solutions (Nasdaq: BLFS) to close Series A financing at a total of more than $39 million.

The new funding will be used to invest in iVexSol's Intelligent Vector Solutions by advancing process and analytical technologies, expanding technical teams in Quality, Regulatory and cGMP operations, and augmenting existing infrastructure to support the production of stable LVV producer cell lines.

"Current vector production methods continue to struggle to meet clinical and commercial demand," remarked Dr. Rodney Rietze, iVexSol co-founder and CEO. "Our cost-effective and highly scalable Intelligent Vector Solutions are designed to break the vector supply bottleneck and provide greater access to patients seeking life-saving treatments. Receiving support from industry leaders Bristol Myers Squib and Charles River Laboratories, along with new entrants like Asahi Kasei Medical is transformative, enabling us to advance our production capabilities and provide a more comprehensive offering to our clients."

iVexSol's Intelligent Vector Solutions revolutionize the production of LVVs - gene delivery vehicles that are a critical raw material in the manufacturing of life-changing cell and gene therapies (CGTs). The technology platform uses banks of vector-producing cells to reliably produce LVV at significantly greater quantities than current approaches and facilitate the rapid scale-out needed for global demand, all within a smaller manufacturing footprint. These advances enable shorter clinical development timelines, reduced costs, and ultimately, increased global access for patients waiting to receive these transformative medicines.

The company is currently focused on generating stable LVV cell lines using each client's gene of interest, to enable a robust and readily available supply of "on-demand" vector to meet the client's growing vector needs.

About iVexSol

iVexSol, Inc. is a viral vector manufacturing company founded on a proprietary, next-generation, stable lentiviral vector production process that transforms the way these essential gene-delivery vehicles are made. Its technology will greatly reduce the complexity, cost, and development time of these critical reagents, thereby accelerating the development and enabling greater access to life-changing cell and gene therapies. For more information visit www.ivexsol.com.

Media Contact:
Tim Walsh
for iVexSol

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