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n e w h a v e n b i z . c o m | M a r c h 2 0 2 3 | n e w h a v e n B I Z 5 A r o u n d t h e R e g i o n PHOTO | LIESE KLEIN Owner Mohamad Hafez speaks at the ribbon- cutting of Pistachio Café on Feb. 23, 2023. Oklahoma-based firm acquires Shoreline Financial Advisors Shoreline Financial Advisors, a wealth management firm based in Guil- ford, has merged with Exencial Wealth Advisors. Oklahoma City-based Exencial has operated in Connecticut for 15 years, and Shoreline's Guilford office will be its third location in the state. Exencial also has offices in Old Lyme and Stam- ford. Exencial pursued the acquisition of Shoreline to expand its Connecticut footprint, according to an announce- ment. e two partners at Shoreline, includ- ing Brendan Smith, who founded the company, and Patrick Smith, will tran- sition $220 million in assets to Exencial. Both Smiths will serve as partners and senior wealth advisors. Shoreline Financial Advisors was originally founded in 1996. Biohaven earns FDA 'Fast Track' approval for spinal muscular atrophy drug New Haven's Biohaven Ltd. has earned Food and Drug Administration "Fast Track" designation for its drug to treat muscle loss in spinal muscular atrophy patients, the company an- nounced. Biohaven's drug, taldefgrobep alfa, is scheduled for a Phase 3 clinical trial and had previously earned orphan drug designation for its use in spinal muscular atrophy (SMA), a rare and progressively debilitating motor-neuron disease. e Fast Track designation allows Biohaven to communicate more oen with the FDA and get quicker review of its drug, the company said. Biohaven's drug targets myostatin, a naturally occurring protein that limits skeletal muscle growth that has been identified as a potential drug target for SMA. Taldefgrobep, used in combina- tion with other drugs, has been found to enhance muscle function by block- ing myostatin activity, according to Biohaven. Wayback Burgers opens in Watertown Wayback Burgers opened its 19th location in Connecticut in February, bringing its menu of burgers and fries $30.5M The amount of federal American Rescue Plan Act funds going toward addressing social work and nursing workforce shortages via a partnership with Connecticut colleges and universities. BY THE NUMBERS to Watertown. Wayback Burgers' latest location is at 1142 Main St. Connecticut-based Wayback Burgers has steadily been expanding its reach beyond state lines in recent years. In March, the company announced it was opening its first location in Japan, part of a plan to open 60 restaurants in that country over the next 20 years. In October, Wayback Burgers opened its second location in Massachusetts. e company currently operates in 35 states with more than 170 locations nationally and internationally. PHOTO | CONTRIBUTED A Wayback Burgers restaurant. American Freight opens new location in Derby Discount retailer American Freight recently marked the grand opening of its new store in Derby aer relocating its operations from West Haven. e new 25,000-square-foot outlet, at 656 West Haven Ave., sells furniture, mattresses and appliances at a discount. e merchandise has been sourced from factories and warehouse-style stores, the company said. e store's prior location was at 190 Frontage Road in West Haven, accord- ing to online records. e American Freight chain operates elsewhere in the state in Newington and Rocky Hill. A subsidiary of Franchise Group Inc., American Freight operates 360 locations nationwide in 38 states and Puerto Rico. Webster teams with Bridgeport workforce nonprofit on $750K resource center Stamford-based Webster Bank will partner with workforce development nonprofit Career Resources Inc. on a resource center to provide job training, placement and financial education to Bridgeport's poorest residents, the bank announced recently. Webster has committed $750,000 to establish the resource center program, to be called e Bridge on Main. Scheduled to launch in mid-2024, the program will provide access to job training and placement services, "aiming to address systemic barriers to employment, economic equity and community reintegration," the bank said. Webster employees will participate in e Bridge on Main by providing finan- cial education, and participants in the 1% The percentage of revenue from the state's 7.35% tax on meals and beverages that the Connecticut Restaurant Association is asking lawmakers to set aside to benefit the hospitality industry. 89.3% The percentage of jobs lost during the pandemic that Connecticut has since recovered, according to the state Department of Labor. program will have access to the bank's financial services. Business owner gets 15 months in prison, must pay $1M restitution for bid-rigging e co-owner of an Oxford-based insulation contracting company was sentenced in February to 15 months in prison for his role in a $45-million bid-rigging scheme that targeted hospitals, municipalities, private businesses and universities around the state. Michael S. Flynn, a co-owner of BC Flynn Contracting Corp., must pay nearly $1.1 million in restitution. Flynn was sentenced in U.S. District Court in Bridgeport, and had pleaded guilty in May 2019 to bid-rigging and conspiracy to commit wire fraud in connection with the scheme. Yale University, UConn, the city of Hartford, PepsiCo. Inc., and Stamford Hospital were among the victimized institutions, according to the U.S. Attorney's office. Flynn had been charged with conspiring with other insulation contractors to rig bids for construction projects, prosecutors said. Riko's Pizza debuts in Fairfield Riko's in Crust Pizza, a New England-based pizzeria known for its crispy, thin-crust pizza, oven-baked wings and Hot Oil Pizza, opened its first location in Fairfield in February. e eatery is at 1920 Black Rock Turnpike in Fairfield. Riko's currently has three other locations in Connecticut, including one in Norwalk and two in Stamford, with a fourth location in Darien coming soon, as well as locations in New York and Florida, according to its website. In addition to its pizza, Riko's will offer dessert and a bar area with signature cocktails. e Fairfield location has seating capacity for 110 people. n PHOTO | CONTRIBUTED Riko's Thin Crust Pizza.

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