GridAI Technologies Corp

Overview

GridAI Technologies Corp (formerly Entero Therapeutics, Inc.) operates two principal businesses:

• Energy orchestration and grid optimization software through subsidiary Grid AI Corp.
• Legacy biopharmaceutical development of Adrulipase for exocrine pancreatic insufficiency (EPI) through subsidiary First Wave Bio, Inc.

Key corporate changes in 2025

• September 30, 2025: Completed a share exchange to acquire Grid AI Corp. Grid AI Corp. owned 75% of AMPX UK Holdings (AMPX), which holds AMPX Limited.
• December 1, 2025: Rebranded from Entero Therapeutics, Inc. to GridAI Technologies Corp.; Nasdaq ticker changed from ENTO to GRDX.
• December 31, 2025: ImmunogenX rescission transaction completed; ImmunogenX ceased to be a subsidiary.

Current operations (as of December 31, 2025)

• Grid AI Corp. and the AMPX energy orchestration platform, focused on software for AI data centers.
• Adrulipase development program for EPI, retained as the company’s biopharma asset.

Grid AI Corp. — energy orchestration and grid optimization

• Core business: Software and services to accelerate power availability and optimize energy infrastructure for AI data centers and other large energy users.
• Platform focus: Integrates and optimizes distributed energy resources (DERs) including battery energy storage systems (BESS), on-site generation, and grid interconnections for AI data center campuses.
• Platform features:
  • Data integration across site assets (engines, battery systems, substations, building systems).
  • Real-time monitoring via a centralized dashboard and historical reporting.
  • A proprietary digital twin model for site-specific forecasting and optimization.
  • A co-optimization engine to participate in energy markets (day-ahead, real-time, reserve) while prioritizing uninterrupted data center operations.
• Commercial status and pipeline:
  • Platform in development; no commercial deployments to date.
  • Re-establishing a commercial pipeline through consulting-led engagements and targeted business development.
  • Early discussions include BESS providers and energy infrastructure participants, with active discussions involving Mango Power and Nomad Transportable Power Systems.
  • Amp Z is a related-party potential customer with a letter of intent but no definitive agreement as of the report date.
• Revenue expectations: Management expected 2026 revenue to be majority-derived from the AI data center platform, with larger increases projected in later years pending deployment.
• Market and competition:
  • Competes in the energy software/DER space with emphasis on interoperability with third-party hardware and market platforms.
  • The market includes VPP and energy optimization providers and participants across regulated energy markets.
• Regulatory environment: Platform operation is subject to grid interconnection rules, market participation requirements, and cybersecurity/data privacy regulations.

Adrulipase biopharmaceutical program (retained asset)

• Product focus: Oral, non-systemic biologic lipase for treating EPI in cystic fibrosis and chronic pancreatitis.
• Clinical status (as of 2025): Adrulipase remains the principal retained biopharma program; there were no active clinical trials in 2025. Prior Phase 2 work informed a narrowed development path.
• Intellectual property: Adrulipase is protected by a patent portfolio licensed from Mayoly and in-house developments; key patents include PCT FR2006/001352 and related US/EP patents with expirations spanning the mid-to-late 2020s through the 2040s, plus additional international PCT filings.
• Manufacturing: API manufactured by third parties (Asymchem, Tianjin); master/working cell banks managed by Charles River Laboratories. Future manufacturing would rely on third-party cGMP suppliers.
• Commercial considerations:
  • Adrulipase would compete with established porcine enzyme replacement therapies (PERTs) if approved, with a non-animal-derived profile positioned as a differentiator.
  • Commercialization would require regulatory approvals and a sales/marketing infrastructure or partnership arrangements.

Financials and employment (as of December 31, 2025)

• Cash and liquidity: Approximately $0.9 million in cash and cash equivalents.
• Accumulated deficit: Approximately $208.8 million.
• Revenue: No revenue generated from Grid AI’s platform; Adrulipase has not generated commercial revenue.
• Indebtedness:
  • Revolving loan facility up to $2.0 million; initial disbursement of $550,000 on January 31, 2025.
  • Interest at 18% per annum; payment due January 31, 2026.
  • As of April 1, 2026, the company was in default on the revolving loan.
• Employees:
  • Parent company: 2 full-time employees as of December 31, 2025.
  • Consolidated total (including subsidiaries): 18 full-time employees as of December 31, 2025.

Intellectual property and assets

• Grid AI/AMPX IP: Proprietary software, algorithms, platform architecture, implementation know-how, copyrights, trade secrets, and related contractual rights developed or acquired by Grid AI Corp. and AMPX.
• Adrulipase IP: Retained patents and related formulations; future exclusivity depends on patent terms and regulatory outcomes.
• Open-source considerations: The Grid AI platform may use open-source components that impose licensing obligations and require cybersecurity management.

Summary

As of the end of 2025, GridAI Technologies Corp is focused on developing and commercializing Grid AI Corp.’s energy orchestration platform for AI data centers while retaining Adrulipase as a legacy biopharmaceutical program. The company held limited cash, a substantial accumulated deficit, outstanding debt with near-term maturities, and a small employee base. Future growth depends on capital availability and successful deployment and commercialization of the Grid AI platform.