UK AI companies win grant to advance data curation

UK AI companies win grant to advance data curation … is in the process of developing text analytics and data mining cloud-based platform Galactic AI.

Innovate UK, the operating name of the UK Technology Strategy Board, has awarded two AI companies more than £300,000 ($387,600) and will co-invest an additional £130,000 ($168,000) from the grant’s funding pot of £20m ($25.8m). The money will be used by the companies to deliver a partnership project entitled: “Chemeia: A synergistic AI integrated architecture for augmenting high value dark-data”.

The two businesses, Manchester-based Biorelate and Cambridge-based Intellegens, announced their success in the third round of Innovate UK’s open grant funding competition.

Intellegens has developed Alchemite, which uses AI to predict ranked unknown data-points and uncertainties, while Biorelate is in the process of developing text analytics and data mining cloud-based platform Galactic AI.

Project Chemeia (pronounced Chem-ee-a) will test the potential for combining the capabilities of both company’s platforms to produce up-to-date, comprehensive and reliable datasets for high-value R&D work.

While current AI methods for curating scientific experimental data can be slow and prone to leaving gaps in the information they produce, the project will attempt to improve data curation techniques to help firms garnering data from in-house experiments and information from external sources to integrate results for further analysis.

Ben Pellegrini, CEO and co-founder of Intellegens, remarked: “Independently, our AI technologies are proven; together they have the potential to take the pain out of data curation.

“We work with sparse data, using our deep-learning algorithm to make accurate predictions in datasets that are as little as 0.05% complete. With the funding granted by Innovate UK we’ll be able to exploit the synergies between these two approaches and see if it is possible to create a powerful new approach that can transform data curation.”

Biorelate CEO and founder Dr Daniel Jamieson added: “Adequate data curation underpins so much of the future success of research and development in science and Biorelate is continually investing in innovative ways to improve this.

“What really excites me about this project is the prospect of bringing two completely different, game-changing technologies together to achieve something entirely novel.”

Innovate UK has a remit to support businesses in developing and realizing the potential of new ideas, which it does by connecting businesses to partners, customers and investors, as well as by providing funding.

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Synergy Pharmaceuticals Inc (SGYP) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in Synergy Pharmaceuticals Inc (NASDAQ:SGYP) by 5.9% during the 3rd quarter, according to the company in …

Synergy Pharmaceuticals logoVanguard Group Inc. lifted its position in Synergy Pharmaceuticals Inc (NASDAQ:SGYP) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,025,593 shares of the biopharmaceutical company’s stock after purchasing an additional 1,224,873 shares during the quarter. Vanguard Group Inc. owned about 8.88% of Synergy Pharmaceuticals worth $37,444,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in Synergy Pharmaceuticals by 272.9% during the second quarter. Bank of America Corp DE now owns 243,363 shares of the biopharmaceutical company’s stock valued at $423,000 after buying an additional 384,085 shares during the period. Chicago Equity Partners LLC lifted its holdings in Synergy Pharmaceuticals by 153.5% in the third quarter. Chicago Equity Partners LLC now owns 472,535 shares of the biopharmaceutical company’s stock worth $803,000 after buying an additional 286,135 shares during the period. Nexthera Capital LP bought a new position in shares of Synergy Pharmaceuticals during the third quarter valued at approximately $1,269,000. Hikari Power Ltd increased its stake in shares of Synergy Pharmaceuticals by 8.7% during the third quarter. Hikari Power Ltd now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $4,250,000 after purchasing an additional 200,000 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Synergy Pharmaceuticals by 2.2% during the second quarter. BlackRock Inc. now owns 21,732,054 shares of the biopharmaceutical company’s stock valued at $37,815,000 after purchasing an additional 464,195 shares in the last quarter. 37.22% of the stock is currently owned by hedge funds and other institutional investors.

SGYP has been the subject of a number of analyst reports. BTIG Research downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Friday, October 26th. Canaccord Genuity downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $5.33.

Shares of SGYP traded down $0.01 on Tuesday, hitting $0.28. 678,439 shares of the stock traded hands, compared to its average volume of 14,718,365. The company has a market capitalization of $68.93 million, a P/E ratio of -0.28 and a beta of 4.94. Synergy Pharmaceuticals Inc has a one year low of $0.07 and a one year high of $2.26.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Fairfield Current and is the sole property of of Fairfield Current. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.fairfieldcurrent.com/news/2019/02/12/synergy-pharmaceuticals-inc-sgyp-shares-bought-by-vanguard-group-inc.html.

Synergy Pharmaceuticals Company Profile

Synergy Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat gastrointestinal diseases and disorders. Its lead product is plecanatide, a novel uroguanylin based gastrointestinal platform that is traded under the TRULANCE name for the treatment of chronic idiopathic constipation and irritable bowel syndrome.

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Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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Infosys Digital Radar 2019: Barriers and Accelerators for Digital Transformation

To gauge the pace of this digital transformation, Infosys Knowledge Institute conducted a series of surveys with senior management executives of …

Acing The Last Lap of Digital Transformation

Amplify

“If you have the right systems and process, a small number of talented individuals can have a big impact on a company’s digital transformation journey”, explains Infosys’ Corey Glickman. Amplifying is all about creating select high impact programs that will push the envelope for digital transformation in a big way.

Partner

Collaborating with suitable partners to boost the digital transformation. There are several advantages to partnering as elucidated in the report. However, there is a great amount of synergy required between the cultures and shared goals of both the parties to be able to achieve the success.

IT Leaders Must Become Digital Change Advocates

Finally, Digital Transformation can succeed only when it is regarded as a holistic, organization-wide phenomenon. Hence its success depend greatly on the ability of the IT leaders to step out of their comfort zones and work across boundaries and functions to lend a cohesive vision.

Survey Audience At A Glance

Survey Methodology

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Fiserv’s $22 billion deal for First Data is one of the biggest in fintech history, and already some on …

Financial technology companies Fiserv said on Wednesday it is acquiring First Data for $22 billion. The companies said they expect at least $500 …

It’s one of the biggest deals in financial-technology history, with promises of hefty additional revenue generation and cost savings to boot.

But some Wall Street analysts are skeptical about the $1.4 billion in revenue and cost-saving synergies Fiserv and First Data have said will come from their $22 billion deal announced Wednesday.

The announcement came to the surprise of many in the industry given the lack of overlapping business the two companies share. Fiserv’s main business is focused on financial technology for small and medium-size banks, while First Data specifically handles payment processing.

The companies said they expected at least $500 million in revenue synergies — the benefits created when two companies merge — thanks to areas such as bank-merchant services and FirstData’s card-payment solution for merchants, Clover. That’s in addition to $900 million the firms expect to save in costs over the same time period from consolidating the firms’ corporate structures and streamlining tech and operations.

These goals may be lofty, say some analysts who follow the companies.

Moshe Katri, an analyst at Wedbush, told Business Insider that while cost savings could be expected through the new deal, creating additional revenue might be a tall task.

“The revenue synergies are likely optimistic,” Katri said. “I would say that historically, Fiserv has not been able to consistently deliver on the top line. And I would say the same thing on First Data.”

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In a note to clients, the SunTrust Robinson Humphrey analyst Andrew Jeffrey offered a similar sentiment.

“We have faith in Fiserv’s management to at least execute around $900 million of run-rate cost synergies; projected $500 million of rev synergies will likely be much more difficult,” the note said. “While we appreciate the merits of combining the companies’ complementary offerings and FI bases, they couldn’t be more culturally disparate. In addition, a recent First Data customer conversation highlights challenges with US service levels, in our opinion. This raises the execution bar for the combined co, in our view.”

Larry Berlin, a senior vice president who specializes in research at the venture-capital firm First Analysis, told Business Insider he’d never imagined that the two companies would merge. While there is some overlap in what they do in the payments space, he said they were still different businesses in different markets.

The base of Fiserv’s business is providing core banking systems to small and medium-size banks, he said. That type of offering isn’t appealing to many of First Data’s clients: large banks and merchants.

First Data clients like Wells Fargo and Bank of America don’t need core processing from Fiserv, as they handle it internally, Berlin said. And while Fiserv already has those banks as clients for its bill-payment offering, getting them to adopt its main business would be a big ask, he added.

Colin Plunkett, an analyst at Morningstar, questioned the combined company’s ability to meet its cost-savings plans. He cited the fact that since Frank Bisignano was named CEO of First Data in 2013 the company’s operating expenses had barely moved, suggesting it was already fairly lean.

Plunkett said that because the operating platforms would not be merged, cost cuts would have to come from reducing corporate overhead. He also cited Fiserv’s 2015 plan to reach cost savings of $250 million over five years, a significantly more moderate expectation compared with the company’s latest goal.

Corporate culture is always a big factor during mergers and acquisitions. The potential challenges of bringing together two companies of this size was noted by some analysts.

In Plunkett’s note, First Data’s rating on Glassdoor, a website where current and past employees can rate employers, was highlighted for its low ratings. On approximately 2,500 reviews the company has an average rating of 2.8 out of 5, with Bisignano receiving a 49% approval rating, Plunkett wrote. That’s in comparison to Fiserv’s rating of 3.3, along with CEO Jeff Yabuki earning a 78% employee approval rating. Plunkett went on to point out that the average rating among all the firms Glassdoor monitored was roughly 3.4.

“We think it’s worth mentioning that First Data’s Glassdoor employee ratings are alarming,” the note said. “While we recognize that these reviews can be falsified and may not give a totally accurate picture of a company, we think it’s instructive and warrants further attention in our ongoing research.”

Some analysts, however, were less skeptical of Fiserv and First Data’s claims of cost savings and revenue generation. Jeff Cantwell, an analyst at Guggenheim, told Business Insider his initial reaction to the deal was positive.

“From a strategic standpoint, it makes sense for both sides to combine,” Cantwell said. “You think about going forward. There should be a lot of opportunities on the revenue side and on the cost side for the combined company. It should be a good deal.”

A spokeswoman from Fiserv reiterated remarks regarding potential synergies between the two companies made by Yabuki in the conference call Wednesday morning. First Data did not return multiple requests for comment.

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BlackRock Inc. Has $37.91 Million Stake in Synergy Pharmaceuticals Inc (SGYP)

BlackRock Inc. grew its position in Synergy Pharmaceuticals Inc (NASDAQ:SGYP) by 2.6% during the 3rd quarter, according to the company in its …

Synergy Pharmaceuticals logoBlackRock Inc. grew its position in Synergy Pharmaceuticals Inc (NASDAQ:SGYP) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,300,724 shares of the biopharmaceutical company’s stock after acquiring an additional 568,670 shares during the period. BlackRock Inc. owned about 8.99% of Synergy Pharmaceuticals worth $37,910,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Chicago Equity Partners LLC boosted its holdings in shares of Synergy Pharmaceuticals by 153.5% in the third quarter. Chicago Equity Partners LLC now owns 472,535 shares of the biopharmaceutical company’s stock valued at $803,000 after acquiring an additional 286,135 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in Synergy Pharmaceuticals by 81.7% during the second quarter. Metropolitan Life Insurance Co. NY now owns 87,170 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 39,189 shares in the last quarter. Bank of America Corp DE boosted its holdings in Synergy Pharmaceuticals by 272.9% during the second quarter. Bank of America Corp DE now owns 243,363 shares of the biopharmaceutical company’s stock worth $423,000 after buying an additional 384,085 shares in the last quarter. Hikari Power Ltd boosted its holdings in Synergy Pharmaceuticals by 8.7% during the third quarter. Hikari Power Ltd now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $4,250,000 after buying an additional 200,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Synergy Pharmaceuticals by 7.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,312,030 shares of the biopharmaceutical company’s stock worth $2,283,000 after buying an additional 88,386 shares in the last quarter. 38.60% of the stock is currently owned by institutional investors and hedge funds.

SGYP stock opened at $0.24 on Thursday. The stock has a market cap of $50.30 million, a P/E ratio of -0.23 and a beta of 3.02. Synergy Pharmaceuticals Inc has a 52 week low of $0.07 and a 52 week high of $2.80.

Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $11.11 million for the quarter, compared to the consensus estimate of $15.65 million. As a group, analysts forecast that Synergy Pharmaceuticals Inc will post -0.54 EPS for the current year.

A number of research firms recently commented on SGYP. BTIG Research downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. Canaccord Genuity downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Finally, Zacks Investment Research downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $6.50.

TRADEMARK VIOLATION NOTICE: “BlackRock Inc. Has $37.91 Million Stake in Synergy Pharmaceuticals Inc (SGYP)” was reported by Fairfield Current and is the sole property of of Fairfield Current. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://www.fairfieldcurrent.com/news/2019/01/17/blackrock-inc-has-37-91-million-stake-in-synergy-pharmaceuticals-inc-sgyp.html.

Synergy Pharmaceuticals Company Profile

Synergy Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat gastrointestinal diseases and disorders. Its lead product is plecanatide, a novel uroguanylin based gastrointestinal platform that is traded under the TRULANCE name for the treatment of chronic idiopathic constipation and irritable bowel syndrome.

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Want to see what other hedge funds are holding SGYP?Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synergy Pharmaceuticals Inc (NASDAQ:SGYP).

Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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