Hi Anzu Community,

This is Jamie Coffin, President and CEO of NTx. We recently launched NTxscribe, a platform that solves a critical challenge faced by biotech companies and researchers today: manufacturing personalized medicine and mRNA therapies affordably and at scale. Traditional RNA manufacturing is slow, expensive, and complex – posing significant barriers to realizing the benefits of personalized medicine. For decades, personalized treatment has been the holy grail of oncology – yet remains out of reach for most.

Thanks to AI and advances in research, we are finally on the brink of not only making personalized medicine a reality – but making it the standard of care. AI is already accelerating diagnosis and can design mRNA therapies in minutes; the real challenge has been the lack of innovation in manufacturing to keep pace. NTxscribe makes mRNA production faster, more affordable, more accessible, and empowers researchers, biotech companies, biomanufacturers, and pharma innovators.

Here are a few reactions from participants in our early access program:

“I believe we are seeing the future of how medicine will be delivered.”

• John Cooke, MD, Ph.D., Houston Methodist Hospital, who is leveraging NTxscribe to accelerate a personalized cancer therapy program.

“Together, we’re pushing the boundaries of cancer research, bringing hope to patients, and shaping the future of precision medicine. Let’s make it happen!”

• Giselle Sholler, Division Chief Pediatric Hematology/Oncology/BMT at Penn State Health Children’s Hospital, who is using NTxscribe at the Penn State College of Medicine, “to pioneer personalized RNA vaccines for children with cancer!”

NTxscribe is a groundbreaking bioreactor system that enables a new paradigm in mRNA manufacturing. The system:

• Manufactures 10-50mg of high-yield, high-integrity purified mRNA in less than 2 hours at the push of a button. Standard methods take days and rely on batch processing, which is not compatible with personalized medicine.
• Sits on the benchtop at the point-of-care and allows researchers to seamlessly switch to the next patient’s therapy, and to deliver personalized cancer treatments affordably and at scale.
• Scales from personalized therapies to large-scale manufacturing and pandemic response.
• Leverages an automated and continuous flow approach in a fully closed system that brings industrial-grade manufacturing to the benchtop.
• Utilizes 100% U.S. made raw materials and enables an end-to-end domestic supply chain for critical biomaterials, which is currently dependent on China.

NTxscribe is now available globally following a fully subscribed Early Access Program. Initial partners include academic medical centers and biopharma organizations such as Houston Methodist DeBakey Heart and Vascular Center and Penn State Health Children’s Hospital.

To support our global operations and government relations efforts, we recently welcomed Joan Haab, Ph.D., as our Chief Operating Officer. Dr. Haab brings over 20 years of commercial, technical, and operational leadership experience in the medical device and biotechnology industries to NTx. Most recently, she served as the COO of Curate Biosciences, a developer and manufacturer of a cell separation system, where she created and managed a commercial supply chain and regulatory strategies for U.S. and EU markets. We also welcomed William (Bill) Doak as Vice President Global Government Programs. In this role, he will also oversee compliance and strategic risk management. Bill joins NTx from Amazon Web Services where he served as Global Lead Partner, and he also spent nearly two decades at IBM in life sciences management and consulting roles.

We also recently announced the formation of our Scientific Advisory Board with distinguished leaders in oncology to advise NTx as the we work to bring our technology to the broader market. The inaugural group of experts from Yale Cancer Center, Mayo Clinic, MD Anderson Cancer Center, Dana Farber Cancer Center, Penn State Health, and Houston Methodist Hospital brings substantial scientific insight and expertise across adult and pediatric oncology, hematology, RNA therapeutics, and more.

There’s nothing more exciting for us than hearing positive early feedback on our technology directly from the practitioners developing and delivering advanced therapies to patients. At NTx, we are focused on enabling research and production capabilities for the mRNA therapies of the future. We’re grateful for the support from our investors, including the Anzu team, and hope you’ll follow along as we continue to expand the reach of our technology and work toward our mission of making personalized medicine a reality.

Sincerely,

Dr. Jamie Coffin, President and CEO, NTx

PORTFOLIO COMPANY UPDATES

Niron Magnetics Wins Innovation of the Year Award at the mHUB Fourth Revolution Awards

Niron Magnetics, the company pioneering the world’s first high-performance, rare-earth-free Iron Nitride permanent magnets, was named the Innovation of the Year at the 2025 mHUB Fourth Revolution Awards. This recognition highlights Niron’s breakthroughs in advanced manufacturing and Industry 4.0, which harnesses automation, digital technologies, and environmentally responsible production methods. Together, these innovations enable a scalable, domestic alternative to rare earth magnets. The Innovation of the Year award specifically recognizes a technology or process that is disrupting its industry and setting new standards for efficiency and impact, with Niron selected from a competitive group of five finalists.

The Niron Magnetics Iron Nitride magnet manufacturing process is designed for efficiency and scalability, utilizing widely available iron and nitrogen as inputs to create high-performance permanent magnets. Its advanced production methods recycle 80 percent of the water and 97 percent of the hydrogen used, while also allowing the magnets to be fully integrated into existing scrap iron recycling streams. By eliminating reliance on constrained and volatile supply chains for critical materials, Niron ensures a stable source of high-performance magnets for industries that depend on them.

EnCharge AI Appoints Dr. Shwetank Kumar to Executive Team as Chief Scientist

EnCharge AI, a pioneer in scalable analog in-memory AI accelerators powering AI inference from edge to cloud, announced the appointment of Dr. Shwetank Kumar to its executive team as Chief Scientist. This strategic hire follows the company’s recent $100M oversubscribed funding round, which will accelerate the development of its innovative client-focused AI computing solutions and additional progress along its future product roadmap.

Dr. Kumar brings deep experience and thought leadership in the highly dynamic domain of advanced AI models, including LLMs, SLMs, and beyond, as well as their use in next-generation systems. He has led and contributed to key industrial product innovations spanning technical, business, and research roles in companies including Intel, IBM, Synaptics, Orbital Insight, and Turo. In addition to technical and business leadership in the technology sector, Dr. Kumar runs the insightful “AI Afterhours” Substack, which will continue alongside his work at EnCharge. Dr. Kumar holds a Ph.D in Applied Physics from the California Institute of Technology and an MBA from The Wharton School.

AM Batteries and South 8 Technologies Team Up to Discuss Next Generation Li-ion Battery Manufacturing

AM Batteries, a pioneer in the field of lithium-ion dry-electrode technologies, and South 8 Technologies, the developer of LiGas®, a liquefied gas electrolyte for advanced lithium-ion batteries, teamed up to explain how their technologies, when paired together, can help transform Li-ion battery manufacturing processes.

Brandon Ludwig, Director of Research & Development, AM Batteries, and Reid (Rusty) Heffner, VP of Strategy of South 8 Technologies, collaborated on a contributed piece for Battery Technology - Transforming Li-ion Battery Manufacturing with LiGas & Dry Electrode Technology.

With more than 34 Gigafactories planned, under construction or operating across the U.S., are they being built to be future proof? The piece looks at how innovative technologies, like AMB’s dry electrode and South 8’s LiGas, can reduce operational and capital costs associated with Li-ion battery manufacturing – and bolster the U.S. Li-ion battery supply chain. The authors demonstrate how advances in battery technologies can transform the Li-ion manufacturing factory process – Electrode Manufacturing, Cell Assembly and Cell Finishing – resulting in a significant impact on the safety and costs from start to finish.

In the Electrode Manufacturing stage, AMB’s trademarked Powder to Electrode system removes the need for drying and solvent recovery steps via the electrostatic application of dry powder in the coating stage. South 8’s LiGas electrolyte technology addresses common manufacturing challenges—from enabling higher energy cells with thicker electrodes to increasing throughput in the Cell Formation stage—and further aids in the reduction of total battery production costs by as much as ~37% when coupled with AMB. To learn more about how these two technologies can help transform the future of Li-ion battery manufacturing, head to BatteryTechOnline.

XGS Achieves Awardable Status for Geothermal Department of Defense Contracts

XGS Energy, an innovator in next-generation geothermal energy technology, was among a list of 11 companies deemed ‘awardable’ and pre-approved for geothermal projects to be undertaken by the U.S. Department of Defense.

This announcement means that XGS has been pre-approved to pursue geothermal projects with the U.S. Air Force, Navy, and Army. The initiative aims to facilitate the development of utility-scale geothermal projects at DoD installations.

The news was covered by CleanTechnica, Environment + Energy Leader, ThinkGeoEnergy, and other trade publications.

 GelSight Gets 3.6M+ views with Science Content Creator on YouTube

Steve Mould, a British educational YouTuber, author, and science presenter who is most notable for making science-related educational videos on his YouTube channel, featured GelSight’s technology in a recent YouTube short.

This new video follows a more in-depth review of GelSight’s technology that Mould published in 2023. In both videos, he uses the GelSight Mobile™ device to measure the 3D topography of many different surfaces including coins, candy hearts, and even facial hair. In the latest video, he explains how manufacturers in the aviation space can use GelSight to characterize scratches or dents to streamline quality control and maintenance processes.

ANZU PARTNERS UPDATES

Upcoming Events

Anzu representatives plan to attend the following events:

• ARPA-E Energy Innovation Summit – March 17-19, Washington, DC
• Battery Venture, Innovation & Partnering Conference at the International Battery Seminar – March 18-19, Orlando, FL
• National Academy of Engineers Regional Meeting – April 1-2, Georgia Tech – Atlanta, GA
• VC Platform Summit – April 7-9, 2025, Miami, FL
• High Tech Venture Days US – April 7-8, Boston, MA
• Energy Tech Summit – April 9-10, 2025, Bilbao, Spain

Please reach out to info@anzupartners.com if you’re interested in meeting with us at any of these events.

ADDITIONAL PC MEDIA COVERAGE

• EnCharge AI’s recent funding round was featured in a TechCrunch roundup of AI financing news thus far in 2025.
• Niron Magnetics was featured in a Forbes* article about deep sea mining activity. Niron’s VP of Nanoparticle Technology Dr. Peter Ladwig was also featured in a piece for St. Mary’s University of Minnesota’s Alumni Magazine. Niron was also featured in a local news piece for KARE on its new production facility in Sartell, MN.
• South 8 Technologies was featured in a piece by The Information’s The Electric* discussing its commercialization efforts. South 8 was also mentioned in a piece in Nature about unleashing the potential of batteries and energy storage, and mentioned in a Battery Tech piece about their partnership with NanoGraf.
• XGS Energy was mentioned in an article by The Hill on the geothermal boom.
• e-Zinc received the 2025 CIX Startup Award.
• Xendee co founder and CTO Michael Stadler appeared on an episode of Bloomberg Businessweek to discuss their technology. He was also featured in a Microgrid Knowledge piece on commercial real estate and the role of microgrids. Xendee was included in a Data Center Frontier piece on solving the AI data center power crisis with microgrids and was also featured in a Daily Upside piece on how microgrids could help ease the AI power drain.
• Voltaiq CEO Tal Sholklapper appeared on an episode of The Battery Podcast by Siemens, and was featured in a Best Magazine piece on the Advanced Automotive Battery Conference
• ImmunoScape was mentioned in a research report on growth in the TCR therapy market.

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ABOUT ANZU PARTNERS

Anzu Partners is an investment firm that focuses on industrial and life science technology companies with the potential to transform their industries. Anzu works with entrepreneurs to develop and commercialize technological innovations by providing capital alongside deep expertise in business development, market positioning, intellectual property, global connectivity, and operations. For more information, please visit https://anzupartners. com/.