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Cyngn’s Drive for Commercialization and Technical Innovation Continues

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In recent weeks, Cyngn — 

Executed its first paid DriveMod Forklift Deployment.Started deploying its next-gen 12,000 lb. DriveMod Tugger at customer facilities.Signed a commercial contract with a major automotive service equipment manufacturer.Expanded its dealer network, adding multiple sales channels that offer Motrec vehicles as well as other 3rd party system integrators.Secured its 20th and 21st US Patent.Announced DriveMod Tuggers capability to run missions outside.

MENLO PARK, Calif., Oct. 22, 2024 /PRNewswire/ — Today, Cyngn Inc. (Nasdaq: CYN) shared several company milestones and key achievements, including significant commercial progress, the expansion of its dealer network, and recent patents. Together, these achievements are positioning the Company for growth.

CEO Commentary

“Cyngn has made significant progress this year, aligning with the growing demand for autonomous utility vehicles in the industrial sector. These solutions are designed to help enterprises address labor shortages, manage costs, and improve safety,” said Lior Tal, CEO of Cyngn.

“Our primary focus is on intralogistics within manufacturing. Recently, we launched our first paid DriveMod Forklift deployment, began deploying the 12,000 lb. DriveMod Tugger at customer sites, and signed a commercial contract with a major automotive service equipment manufacturer. Additionally, we continue expanding our dealer network, and secured our 20th and 21st U.S. patents.

“The smart manufacturing market is predicted to grow from $223.6 billion to an impressive $985.5 billion by 2032. As AI continues to shape industrial operations, we are building momentum with DriveMod and are focused on addressing key challenges in the sector through our autonomous solutions.”

Key Milestones and Achievements:

Notable Deployments and Customer Contracts.
Cyngn recently secured a commercial contract with a major automotive service equipment manufacturer. The company also executed its first paid deployment of the DriveMod Forklift, demonstrating real-world adoption of its technology. Additionally, Cyngn started deploying its next-gen 12,000 lb. DriveMod Tugger at customer sites, further expanding its footprint in industrial automation.

New Product Launches and Features.
The DriveMod Forklift and the next-generation 12,000 lb. DriveMod Tugger represent the latest additions to Cyngn’s product lineup with the latter now able to complete outdoor missions. To streamline the production of DriveMod Tugger, Cyngn’s OEM vehicle partner, Motrec, started building the DriveMod Tugger.

Technological Innovation.
Cyngn’s commitment to technological advancement is evident in its recent securing of the 20th and 21st U.S. patents. These patents underscore the company’s focus on enhancing its autonomous capabilities and solidify its standing as an innovator in the smart manufacturing sector. They also announced advancements in their Proprietary computer vision, thanks to NVIDIA Accelerated Computing.

About Cyngn
Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn’s DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn’s flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Find Cyngn on:

Website: cyngn.comTwitter: twitter.com/cyngnLinkedIn: https://www.linkedin.com/company/cyngnYouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Don Alvarez, CFO
investors@cyngn.com 

Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com

Forward-looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the Securities and Exchange Commission (the “SEC”), including, without limitation the risk factors discussed in the Company’s annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

 

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Complete Blood Count Test with At-Home Sample Collection is Available for Direct-to-Patient Biopharma Programs through ixlayer’s ixEngage

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ixEngage removes barriers to care by accelerating pre-treatment and routine CBC tests used for hundreds of conditions, including asthma, heart disease and kidney disease

SAN FRANCISCO, Oct. 22, 2024 /PRNewswire/ — ixlayer, the leading cloud-based platform powering an end-to-end direct-to-patient (DTP) healthcare experience, announced availability of a Complete Blood Count (CBC) test with at-home sample collection. This move supports biopharma partners who want to accelerate virtual care and reduce barriers to care for patients. Available through ixEngage, ixlayer’s DTP biopharma solution, biopharma companies can develop programs to include a CBC test, specialty and PCP telehealth consultations and prescription delivery. Top U.S. biopharma companies have already signed on to implement ixEngage’s remote CBC testing, with plans to make their programs publicly available as early as Q1 2025.

Remote CBC testing offers unprecedented ease and access to vital healthcare previously only available in clinical settings. Cutting-edge sample collection devices allow patients to use a simple-to-administer blood sample collection kit from the comfort of their home. Advanced and proprietary technology in ixEngage ensures secure data transfer of lab results to patients and healthcare providers. And, this digital connection to care ensures that patients understand their CBC results through access to physicians who will discuss results and treatment options. This end-to-end solution supports biopharma’s initiatives for patient-centered care, and 83% of U.S. physicians who believe at-home testing accelerates diagnosis and improves health outcomes, according to a recent survey.

“With the ability to collect at-home CBC samples, patients will now have more convenient access to life-saving diagnostics, care and treatment,” said Dr. Bernard Esquivel, MD and PhD, Chief Medical Officer at ixlayer. “This advancement can allow physicians regular insight to a patient’s biomarkers resulting in personalized treatment plans, reducing hospitalizations, and ensuring timely interventions, particularly for those with limited access to healthcare facilities.” 

This capability simplifies the process of obtaining essential medications, such as biologics which require a CBC test prior to prescribing. By eliminating the need for in-person lab visits, patients and their physicians can quickly access CBC test results and shorten the path to treatment. CBC testing is also essential for diagnosing and managing conditions like asthma, autoimmune diseases, certain cancers, chronic kidney disease, and heart disease. With ixEngage, biopharma can provide a seamless and integrated patient journey leading to faster, data-driven treatment decisions and improved outcomes.

It’s known that 70% of clinical decisions rely on lab testing, yet 40% of blood lab prescriptions go unfilled by traditional means. ixEngage with remote CBC testing removes lab appointment bottlenecks from the patient journey.

“Remote CBC testing as part of ixEngage accelerates patient-centered healthcare,” explained Pouria Sanae, CEO and co-founder of ixlayer. “At ixlayer, we continually merge medical and technological innovations to shift the healthcare paradigm from reactive to proactive care so patients can get the care they want and need when it’s convenient for their schedules.”

About ixlayer
ixlayer [pronounced: I-X-layer] is the leading provider of cloud-based platforms that power a seamless, end-to-end direct-to-patient healthcare experience. The name reflects our core strength: “i” for robust data and technology infrastructure and “x” for exceptional user experience. ixEngage by ixlayer seamlessly integrates with all healthcare ecosystem partners, connecting biopharma with patients in a user-centric way. This proprietary technology accelerates the path to diagnoses, supports optimal care, drives operational efficiency, and improves health equity and outcomes for all. To date, ixlayer has activated over four million patient care journeys across more than 1,100 programs, simplifying the complex web of healthcare. Learn more at www.ixlayer.com.

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Six Rubin and Rudman Partners Named to 2025 Lawdragon 500 Leading Family Lawyers in America

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BOSTON, Oct. 22, 2024 /PRNewswire/ — Rubin and Rudman partners Marlee S. Cowan, Lisa M. Cukier, Susan B. Grandis, David M. Friedman, Jared D. Spinelli, and Meredith A. Stratford have been selected for inclusion in the 2025 Lawdragon 500 Leading Family Lawyers in America for their expertise in high-net worth divorce, trusts and estate planning, and probate litigation.

Marlee S. Cowan is a partner in the firm’s Trusts and Estates and Litigation departments. She focuses her practice on probate litigation, guardianships, conservatorships, will contests, trust disputes, breaches of fiduciary duty, and estate and trust administration. She is skilled in employing creative tactics to help guide clients through every step of the process – from delicate negotiations to trial. She was named to Boston Magazine’s Top Trusts and Estates Lawyers List for the past two consecutive years. She received her J.D. from New England Law and her B.A. from the University of California Berkeley.

Lisa M. Cukier is a partner in the firm’s Family Law, Litigation, and Trusts and Estates departments. She concentrates her practice on complex trust and estate litigation, high-asset family law matters, and family disputes, with a focus on cases involving diminishing capacity, such as undue influence, financial exploitation, and guardianship and conservatorship interventions. She is renowned for navigating complex legal matters with discretion and precision and seamlessly integrating legal expertise with bespoke client care. She has been ranked in The Best Lawyers in America for the past 14 years and was selected to Massachusetts Lawyers Weekly’s 2024 Circle of Excellence, among other prestigious awards. She received her J.D. from Suffolk University Law School and her B.A. from Northeastern University.

Susan B. Grandis is a partner and chair of the firm’s Family Law department. With over 30 years of legal experience, she focuses her practice on resolving domestic relations matters and litigating complex cases involving trusts, estates, and business interests, offering her clients strategic advantages in negotiating marital agreements and addressing estate planning concerns. She is a strong advocate who takes pride in finding creative and practical solutions for those clients seeking to achieve reasonable and cost-effective results. She has been named to Boston Magazine’s Top Divorce and Family Lawyers List since 2021. She received her J.D. from the University of Virginia School of Law and her B.A., magna cum laude, from the University of Massachusetts Amherst.

David M. Friedman is a partner in the firm’s Family Law department. He focuses his practice on representing and counseling clients in all areas of family law, including divorce, post-divorce modification, and enforcement (contempt) proceedings, as well as family law mediation and conciliation. His cases frequently involve closely held businesses, valuation of commercial and residential real estate, trust interests and inheritance, and complex compensation structures (including equity compensation plans). He has been ranked in The Best Lawyers in America since 2019 and named to Boston Magazine’s Top Divorce and Family Lawyers List since 2021, among other prestigious awards. He received his J.D. from Suffolk University Law School and a B.A. from Colby College.

Jared D. Spinelli is a partner in the firm’s Family Law department, a member of the firm’s Executive Committee, and chair of the firm’s Pro Bono Committee. He concentrates his practice on all aspects of complex domestic relations law, including divorce, child custody and child support, alimony, paternity, asset valuation and division, and modification and contempt actions. In addition to his work at the trial court level, Spinelli is experienced in drafting and filing appellate briefs and has argued before the Massachusetts Appeals Court on a wide range of divorce issues. He has been ranked in The Best Lawyers in America in 2024-2025, selected to the Massachusetts Rising Stars List since 2018, and named to Boston Magazine’s Top Divorce and Family Lawyers List since 2021. He received his J.D. from Suffolk University Law School and a B.S. from Northeastern University.

Meredith A. Stratford is a partner in the firm’s Family Law, Litigation, and Trusts and Estates departments. In her trusts, estates and probate practice, she prepares comprehensive and highly personalized estate plans designed to preserve wealth, minimize estate tax, and provide for beneficiaries with special needs. In litigation and family law, her practice is focused on all aspects of complex domestic relations matters, including divorce, child custody, child support, alimony, adoption, contempt, paternity, grandparent visitation, removal, and guardianship cases. She has been ranked in The Best Lawyers in America and selected to the Massachusetts Super Lawyers List since 2023, as well as Boston Magazine’s Top Divorce and Family Lawyers List since 2022.

About Rubin and Rudman LLP

Founded over a century ago, Rubin and Rudman is a full-service law firm with over 90 lawyers in Boston, Massachusetts. With a diverse mix of practices, Rubin and Rudman serves national and international companies, including large public companies and closely held businesses; real estate developers; biotechnology, pharmaceutical and medical device makers; regulated industries, public entities and municipalities; insurance companies and their insureds; educational and other institutions; non-profit organizations; families and high net worth individuals. Rubin and Rudman also has suburban offices in Andover and Woburn, Massachusetts. Web: www.rubinrudman.com.

Contact:

Amy Blumenthal

Kristen Weller

Blumenthal & Associates

Chief Marketing & Growth Officer

617.879.1511

617.330.7189

amyb@blumenthalpr.com

kweller@rubinrudman.com

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Inc. Names Apollo.io a 2024 Power Partner Award Winner

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The annual list recognizes the top B2B companies in the country that cater to SMBs and have demonstrated a proven track record of supporting entrepreneurs and helping companies grow

SAN FRANCISCO, Oct. 22, 2024 /PRNewswire/ — Apollo.io, a leading go-to-market (GTM) solution for sales and marketing teams, today announced it has been named one of Inc.’s 2024 Power Partners Award Winners. The third annual Power Partner Award is presented by Inc., the leading media brand and playbook for the entrepreneurs and business leaders shaping our future, honoring B2B organizations across the country that have proven track records for supporting entrepreneurs and helping startups grow. Apollo is proud to be recognized as one of the best B2B providers in the CRM – Sales Force Automation category, helping small and medium-sized businesses (SMBs) manage customer data, track customer interactions, compile business information, and automate sales. Apollo is featured alongside 359 other highly acclaimed business leaders, including Pipedrive, Slack, and HubSpot.

The Power Partner Award recognizes the highest caliber of B2B partners who support entrepreneurs in critical business areas, such as hiring, compliance, infrastructure development, cloud migration, and fundraising. This frees up founders to focus on their core missions. Inc.’s methodology includes anonymous client surveys and qualitative ratings, online sentiment analysis from Inc.’s data partner, Meltwater, and research and analysis of data by Inc. reporters. Every company on the Inc. Power Partner award list received top marks from clients for being instrumental in helping leadership navigate the dynamic world of startups.

“This is our definitive listing of vendors and suppliers who have demonstrated excellence in serving small- and midsize customers,” says Inc. editor in chief Mike Hofman. “As part of the vetting process, our team of editors, researchers and reporters gathered information on companies’ products and services, assessed their reputation as captured in online comments and forums, and collected customer testimonials to ensure that the sales pitch matches the actual client experience. In every case, we spoke to founders like you who were happy to attest to a vendor’s genuine commitment to a mutually beneficial business partnership. We’re happy to be the conduit for that positive word of mouth.”

Apollo solves a critical need by consolidating the entire sales tech stack, providing sales teams with access to verified contact data for over 275 million B2B contacts, along with AI-driven intelligence tools to engage and convert these contacts—all in one unified platform. Apollo is one of the fastest-growing companies in SaaS currently supporting over 500,000 companies, 80,000+ paying customers, and millions of users globally, growing revenue by over 14x since the beginning of 2021. The company is the No. 1 ranked best sales intelligence software for small businesses on G2, and has earned No. 1 rankings in the SMB categories for lead capture, marketing account intelligence, and lead intelligence. Apollo is also ranked No. 3 for Best Sales Products on G2’s 2024 Best Software Awards.

“Go-to-market is really hard. The process is complex, lacks intelligent guidance, and involves slow, convoluted workflows where the available tools today cater primarily to large enterprises,” said Tim Zheng, Apollo’s Co-founder and CEO. “Apollo was built from the ground up to solve these problems. The platform simplifies world-class go-to-market strategies, making them intelligent and accessible to the underserved market of 330 million global small businesses. Business owners can replace multiple sales and marketing tools with Apollo, reducing costs without sacrificing modern workflows that provide a competitive edge. We are honored to be recognized by Inc. as a partner to small businesses, supporting their growth and accelerating their revenue.”

To learn more about Apollo and to sign up for free, visit www.apollo.io. To view the complete list of 2024 Inc. Power Partner Award Winners, visit: https://www.inc.com/power-partner-awards/2024.

The November 2024 Issue of Inc. magazine is available online now at https://www.inc.com/magazine and will be on newsstands beginning October 29, 2024.

About Apollo.io
Apollo.io is the leading go-to-market solution for revenue teams, trusted by over 500,000 companies and millions of users globally, from rapidly growing startups to some of the world’s largest enterprises. The company is one of the fastest growing companies in SaaS, raising approximately $250 million to date and valued at $1.6 billion. Apollo.io provides sales and marketing teams with easy access to verified contact data for over 275 million B2B contacts, along with tools to engage and convert these contacts in one unified platform. By helping revenue professionals find the most accurate contact information and automating the outreach process, Apollo.io turns prospects into customers.

About Inc.
Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, digital, print, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.

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