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The current progress of this project is in line with the expected timeline, and all construction phases are proceeding steadily as planned.

The partner led a financing round totaling $5.5 million, aimed at completing the acquisition of Celularity Inc.'s degenerative disease treatment business unit. This strategic financing will significantly accelerate Nexgel's business expansion in the field of cell therapy by integrating Celularity's patented technology platform and clinical assets in degenerative diseases, strengthening its competitiveness in the regenerative medicine market. Sequence Lifescience™, as an innovative platform focused on life sciences investment, spearheaded this financing, demonstrating market recognition of Nexgel's technological approach and commercial prospects. Upon completion of the transaction, Nexgel will gain access to Celularity's R&D pipeline and related intellectual property rights in fields such as neurodegenerative and osteoarticular diseases, further enriching its product portfolio. This acquisition aligns with the company's long-term plans for strategic transformation into high-growth therapeutic areas and is expected to generate significant synergies.

This transaction marks the gaming and entertainment giant’s further expansion of its strategic presence in the horse racing industry. As the second leg of the US Triple Crown horse racing events, the Preakness Stakes brings both brand value and historical significance that will inject new energy into Churchill Downs’ portfolio of events. The details of the agreement have not yet been disclosed, but the market expects the acquisition to strengthen the company’s core competitiveness in the traditional horse racing sector.