Fathom Digital Manufacturing | December 28, 2021
Fathom Digital Manufacturing Corp., a market leader in on-demand digital manufacturing services, stated today that the formerly announced business combination with Altimar Acquisition Corp. II ("Altimar"), a particular-purpose acquisition company, has been completed. The company’s merger was completed on December 23, 2021, following approval by Altimar's shareholders. Fathom was once a privately held portfolio company of CORE Industrial Partners ("CORE"), a Chicago-based private equity firm focusing on investing in and expanding middle-market manufacturing, industrial technology, and industrial services firms. The CORE will continue to be the merged business's major stakeholder.
Fathom will remain managed by CEO Ryan Martin, Chief Financial Officer Mark Frost, Chief Commercial Officer Rich Stump, and Chairman of the Board TJ Chung, all of whom have extensive expertise in on-demand digital manufacturing services.
Fathom provides a broad range of advanced manufacturing services through a differentiated technology-agnostic strategy that emphasizes speed, problem-solving, adaptive technical responsiveness, and manufacturing expertise, enabling businesses to iterate more quickly and shorten product development and production cycles.
Additionally, Fathom helps companies consolidate and localize their supply chains due to the move to Industry 4.0, or industrial digitalization, creating enormous development prospects in the fragmented $25 billion low-to-medium volume manufacturing industry. By using its established business strategy, Fathom has obtained new business with significant innovative firms. This new business is helping to increase market penetration for its additive and traditional manufacturing technologies and boost its backlog of business.
We are taking this step because we are a strong, profitable company, and believe our NYSE listing will accelerate Fathom’s growth, both organically and inorganically, by using our stock as a currency to advance our M&A strategy and investing in promising new technologies across the industry,” said Mr. Martin. “These new technologies will enable us to serve our target markets with greater efficiency and responsiveness than ever before. Our broad capabilities from rapid prototyping to low- to mid-volume production, proprietary software suite, engineering expertise and comprehensive support system are competitive advantages we expect will enable us to continue executing our strategic plan and deliver strong profitable growth.
“Fathom offers an exciting new paradigm – fast, technologically sophisticated, flexible, and geared for rapid growth,This is an opportunity for us to increase our product offerings to better serve our clients and power their accelerating pace of new product development and manufacturing innovation while expanding both our geographic and strategic reach.”
-Mr. Chung, Senior Partner at the CORE
“With the completion of this transaction, Fathom has solidified its position at the forefront of the fast-growing on-demand digital manufacturing sector,The company’s unique on-demand platform and diverse offerings serve a broad variety of customers, ranging from the Fortune 500 to high-growth disruptive startups, and are perfectly suited to the challenges and opportunities facing manufacturers today. We are extremely proud of the incredible growth and innovation the Fathom team has achieved over the past three years since we initially partnered with the company, and we’re excited to remain Fathom’s largest investor. We are confident Fathom’s solid foundation will enable the company to achieve further success in the public markets.”
-John May, Founder and Managing Partner of the CORE.
*This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Multiple known and unknown risks, uncertainties, assumptions, and other critical variables, many of which are outside of Fathom's control, could cause actual results or outcomes to differ substantially from those mentioned in the forward-looking statements.
businesswire | December 15, 2020
Aurinia Pharmaceuticals Inc. ("Aurinia") and Lonza Ltd. ("Lonza") today reported they have extended their select assembling relationship. The gatherings went into a community oriented consent to construct a devoted assembling limit inside Lonza's current little particle API office in Visp, Switzerland. The committed office (likewise alluded to as "monoplant") will be furnished with cutting edge fabricating gear to give cost and creation effectiveness to the assembling of voclosporin, while growing existing limit and giving stock security to fulfill future business need.
The new understanding expands on the gatherings' fruitful multi-year relationship. The arrangement, which is restrictive upon U.S. administrative endorsement of voclosporin, doesn't affect the dispatch supply for voclosporin as this is made sure about by existing stock. The monoplant is assessed to be operational in 2023.
“Lonza’s world-class expertise and partnership have helped Aurinia to cost-effectively optimize the unique and complex manufacturing process required for the synthesis of voclosporin,” said Peter Greenleaf, President and Chief Executive Officer of Aurinia Pharmaceuticals. “We are currently well-poised and ready with adequate product supply for launch and anticipated market demand. A dedicated production capability will help keep our manufacturing costs down and ensure long-term flexibility to meet future demand for years to come.”
“This collaboration is a great example of how we can support both early and commercial-stage biopharmaceutical companies through innovation in manufacturing technology and flexible business models,” said Gordon Bates, President Small Molecules Division, Lonza. “We are looking forward to further developing our relationship with Aurinia into a long and productive collaboration to supply this innovative medicine to patients across the globe.”
Following U.S. administrative endorsement of voclosporin, Aurinia will begin a few capital consumption installments. Endless supply of the monoplant, Aurinia will reserve the privilege to keep up unhindered utilization of the monoplant by paying a quarterly fixed office charge.
The U.S. Food and Drug Administration (FDA) acknowledged the documenting of Aurinia's NDA for voclosporin in the treatment of lupus nephritis (LN), conceded Priority Review, and alloted a Prescription Drug User Fee Act (PDUFA) target activity date of January 22, 2021.
Voclosporin is a novel therapy in development for patients with LN, an inflammation of the kidney which is one of the most serious complications of the autoimmune disease systemic lupus erythematosus (SLE). If left untreated, LN can lead to irreversible kidney damage, kidney failure or even death. Through an extensive clinical program, voclosporin has demonstrated superiority to the standard-of-care for LN. Voclosporin is now under review by the FDA with Fast Track status and Priority Review as a potential therapy for LN in the United States.
Desktop Metal | November 24, 2021
Desktop Metal today announced it has qualified the use of D2 tool steel for the Production System™ platform, which leverages patent pending Single Pass Jetting™ (SPJ) technology designed to achieve the fastest build speeds in the metal additive manufacturing industry. Businesses can now leverage SPJ technology for the production of parts in high-strength, high-temperature applications such as cold work metal forming tools, dies, and punches as well as injection molds with conformal cooling channels.
D2 tool steel is a versatile high-carbon, high-chromium air-hardening tool steel characterized by its high hardness and compressive strength after heat treatment. This tool steel also offers extremely high wear resistance properties, dimensional stability, and corrosion resistance in the hardened condition, a key benefit for conformal cooling applications. D2 is used for a wide variety of cold work tools that require a combination of wear resistance and moderate toughness, such as coining and sizing tool members, blanking and forming dies, shear cutting tools, gauges, burnishing tools, and other wear parts.
“Our materials science team is constantly working to develop new materials and processes to make 3D printing accessible to all industries and applications,We are responding to the demand from our customers across manufacturing and industrial industries for materials like D2 tool steel that enable the production of critical forming and cutting tools, and in various other applications where high hardness is valued.”
Jonah Myerberg, co-founder and CTO of Desktop Metal
Desktop Metal’s materials science team has qualified and fully characterized D2 tool steel printed on Production System technology in accordance with ASTM testing requirements.
Cams used in oil and gas or chemical processing applications convert rotary motion into reciprocating linear motion in a machine. Typically these parts require multiple manufacturing steps, beginning with CNC machining and followed by broaching of the spline on a separate machine. Binder jetting enables the production of cams in a single printing step, reducing both the cost and lead time of the part, while also supporting the production of numerous cam sizes in a single build to accommodate different machines, all without any fixturing or tooling required. D2 tool steel is critical for this application because of its hardness and corrosion resistance, which ensures a longer lifetime as the cam mechanically interacts with a sliding pin. In addition, because these components are often integrated into machines operating in harsh environments, the corrosion resistance provided by D2 ensures that the parts will perform as intended and not deteriorate.
The Production System - World’s Fastest Way to 3D Print Metal Parts At-Scale
Created by the inventors of binder jetting and single-pass inkjet technology, the Production System is an industrial manufacturing platform powered by Desktop Metal’s SPJ technology. It is designed to achieve speeds up to 100 times those of legacy powder bed fusion additive manufacturing technologies and enable production quantities of up to millions of parts per year at costs competitive with conventional mass production techniques.
The Production System platform consists of two printer models: the P-1, a solution for process development and serial production applications, and the P-50, a large form factor mass production solution for end-use parts. The Production System combines Desktop Metal engineered binders with an open material platform, allowing customers to produce high-performance parts using the same low-cost metal powders used in the Metal Injection Molding (MIM) industry. An inert processing environment enables compatibility with a variety of materials, including high-performance alloys and even reactive metal powders, such as aluminum and titanium.
In addition to D2, the materials library for the Production System platform has expanded to include 420 stainless steel, nickel alloy IN625, 4140 low-alloy steel, 316L stainless steel, and 17-4PH stainless steel, each of which have been qualified by Desktop Metal. The platform also supports several customer-qualified materials, including silver and gold, and Desktop Metal plans to add additional metals to its portfolio, including tool steels, stainless steels, superalloys, copper, and more.
About Desktop Metal
Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum, named to MIT Technology Review’s list of 50 Smartest Companies, and the 2021 winner of Fast Company’s Innovation by Design Award in materials.