BOSTON, April 26, 2023 — Aldena Therapeutics Inc. (Aldena), a private biotech company pioneering siRNA-based therapies for dermatological indications, and Empa, the Swiss Federal research institute for materials science and technology, have been awarded a joint 600′000 CHF grant by InnoSuisse, the Swiss Innovation Agency. This StarCURE grant seeks to co-develop microneedle particles as a new skin delivery system, which will enable novel therapeutic approaches in dermatology by revolutionizing the way drugs are delivered and absorbed through the skin.

This groundbreaking microneedle-particle technology, called STAR particles¹, now under exclusive license to Aldena was originally discovered and developed by Prof. Mark Prausnitz and Dr. Andrew Tadros at the Georgia Institute of Technology in Atlanta. These star-shaped ceramic microparticles enable delivery of large, water-soluble molecules into the skin at the site of application. Aldena Therapeutics is pioneering this technology as part of its portfolio of innovative dermatological programs.

The StarCURE collaboration between Aldena and Empa will be conducted over two years and will aim to establish a scalable manufacturing method for STAR particles and to investigate next-generation STAR particle materials that provide added capabilities.

Dr. Claire Bouix-Peter, Chief Operating Officer of Aldena Therapeutics and project coordinator, commented: “This project is a great opportunity to leverage our expertise in dermatology in collaboration with Empa’s world-class materials and science experts to transform STAR particle manufacturing for commercial-scale production.”

Prof. Prausnitz, co-Founder of Aldena Therapeutics, added: “This collaboration will enable the manufacturability and expanded functionality of STAR-particle technology, which is an essential and strategic next step in the development of Aldena.”

Dr. Michael Stuer, Head of the Nanopowders and Ceramics Group at Empa’s High Performance Ceramics lab, remarked: “This is a great example of how our expertise in ceramic materials can be applied to develop a safe and effective drug delivery technology.”

Prof. Patrik Hoffmann, Head of the Laboratory for Advanced Materials Processing at Empa, added: “This is a very exciting project and I am confident that our joint research efforts will result in a scalable technology that could revolutionize the way skin drug delivery is viewed in the pharmaceutical industry, providing treatments with greater precision, efficiency, compliance and safety.”

About Aldena

Aldena Therapeutics is a Boston, Lausanne and London-based biotechnology company focusing on siRNA-based dermatological treatments, enabled by STAR particles as a novel skin delivery system, for patients suffering from dermatological diseases. It was co-founded by Prof. John Harris (MD, PhD, Professor and Chair of Dermatology at UMass Chan Medical School), Prof. Mark Prausnitz (PhD, Regents’ Professor at Georgia Institute of Technology) and Dr Andrew Tadros (MD, PhD), and is backed by Medicxi. Aldena Therapeutics is pursuing multiple innovative programs and is currently initiating the IND-enabling GLP nonclinical program for its lead projects.

About Empa

Empa, the Swiss Federal Laboratories for Materials Science and Technology, is an interdisciplinary Swiss research institute conducting cutting-edge materials and technology research, based in Dübendorf, St. Gallen and Thun, Switzerland. Empa aims at generating interdisciplinary solutions to major challenges faced by the industry, and at creating the necessary scientific basis to ensure that our society develops in a sustainable manner.

¹ Tadros, A et al., Nature Medicine 2020, v26, p341-347 https://doi.org/10.1038/s41591-020-0787-6

SOURCE Aldena Therapeutics

Xtellar™ is shaping a smarter future by unlocking industry disruption through collaborative additive manufacturing innovation

PHILADELPHIA and SÃO PAULO, April 25, 2023 — Xtellar™, is a US based venture focused on developing innovative materials for additive manufacturing such as 3D filaments, 3D pellets and 3D powders that is being launched by Oxygea, a Corporate Venture Capital firm focused on sustainable innovation and digital transformation in the industry. Xtellar specializes in a wide range of materials that includes Polypropylene, Polyethylene, PETG, Nylon, Bio-Based and Recycled polymers specifically engineered to additive manufacturing applications such as aerospace, automotive, marine, consumer, packaging, and healthcare. This new business venture is the next step in the evolution of Braskem’s – Leader in the production of thermoplastic resins in the Americas and 6th largest petrochemical company in the world – specialty additive manufacturing materials division that was launched in 2020.

Jason Vagnozzi, Xtellar™ CEO, stated: “We are excited for this next chapter in our additive manufacturing business. Since 2020, we have seen exponential growth and the rapid evolution of our portfolio. Xtellar combines Braskem’s 3D materials division, which started with a small portfolio of specialized polypropylene (PP), Bio-Based, and Recycled formulations and taulman3D, which was recently acquired in 2022, adding nylon, recycled PETG, and PETG to our portfolio. With projections for the 3D printing industry expected to grow to over $70 billion by 2030 – growing at an estimated 20% CAGR – we believe this new structure will allow us enhanced opportunities to serve this fast-growing demand. We look forward to partnering with our clients and other organizations to forge breakthrough collaborations and bring innovation to life.”

For Artur Faria, CEO of Oxygea, “We see great disruptive potential in Xtellar, as it is a business that has a transformative profile for the future of sustainability.  This investment is part of our goal of promoting new solutions to the market, accompanying and helping to develop new products that are in line with the ESG agenda. Thus, we believe that investment in Xtellar’s product also adds value to several industries by offering additive manufacturing, something that is increasingly rooted in global supply chains.”

Visit Xtellar™ in person at North America’s largest Additive Manufacturing event, Rapid + TCT, May 2-4 in Chicago. Xtellar™’s booth # is 2412.

Xtellar products and services will officially be available starting June 2023.  For more information about Xtellar’s additive manufacturing portfolio and new brand launch, please visit our website.

SOURCE Xtellar

Replit is Building the Best Cloud and AI Development Experience for Software Creators

SAN FRANCISCO, April 25, 2023 — Replit, the world’s fastest-growing developer platform and creator of Ghostwriter, the generative AI for software development, announced the close of its $97.4 million financing round at a $1.16 billion post-money valuation. Replit will use the new funds to innovate on its core development experience, expand its cloud services for developers, and drive innovation in AI and LLMs through Ghostwriter.

Investor Participation and Funding Details

Andreessen Horowitz’s Growth Fund led the round. Others participating include Khosla Ventures, Coatue, SV Angel, Y Combinator, Bloomberg Beta, Naval Ravikant, ARK Ventures (Cathie Woods), and Hamilton Helmer, the author of ground-breaking “7 Powers.” Previously-invested SAFEs converted in this round, including those of over 2,500 Replit community members in a Wefunder crowdfunding in 2022.

Founder and CEO Statement

Replit founder and CEO Amjad Masad says, “We are relentless in our mission to empower a billion software developers. AI has already brought that future closer. We look forward to expanding our offerings for professional developers.”

Developer Day Livestream – April 25 at 2 PM PT

Please join us on April 25, 2023 at 2 pm PT for our first-ever Developer Day livestream where Replit will announce new product launches and an overview of the power of Replit for developers.

Replit’s Innovations

By continuously delivering improvements on its core developer experience, Replit has grown to 22.5 million developers. Replit innovations include:

• Cloud-based development environment in any programming language
• End-to-end mobile app for full-stack software development
• A multiplayer, collaborative experience that enables true pair programming
• Ghostwriter AI for software creation – AI code completion and AI chat with awareness of a software project’s files and context, speeding up developer productivity >30%
• Scalable, performant infrastructure that supports the full stack creation and deployment of software from the cloud
• Open platform that can deploy to any cloud, use the APIs of any LLM provider, and interoperates with any third-party services

Company Stats

• 22.5 million developers from 200+ countries
• 235 million projects created
• 25 billion monthly external visits to apps and sites hosted on Replit
• 1 million containers running concurrently
• 3 million/second of sustained read/write disk operations
• 10TB of packages cached
• 200,000 AI applications leveraging every major generative AI API

The announcement comes soon after of the company’s partnership with Google, and Replit developers get access to Google Cloud services, infrastructure, and foundation models, further reducing the time from idea to live software on Replit.

About Replit

As the fastest-growing software development platform globally, Replit is home to over 22 million developers. Replit enables developers to quickly set up any development environment and release fully functional live apps in seconds, from anywhere on any device, with the power of AI.

For media inquiries, reach out to [email protected] 

SOURCE Replit

SEOUL, South Korea, April 25, 2023 — Mezzion Pharma (“Mezzion”), a rare disease focused pharmaceutical company, announced that it has secured nearly $40M USD to fund FUEL-2, their confirmatory phase 3 clinical trial, along with future commercialization and regulatory submissions in other countries including Europe.

Mezzion is looking to bring to market JURVIGO^® (udenafil), a highly selective, unique and potent phosphodiesterase type 5 inhibitor (“PDE-5 inhibitor”), for specific use in the estimated global 70K single ventricle congenital heart disease (“SV-CHD”) patients with ages of twelve and above who have undergone Fontan surgical palliation.

The average life expectancy for a Fontan patient is 35-45 and apart from JURVIGO®, there are currently no other pharmacotherapies undertaking clinical development directed to the Fontan patient population. The primary aim of JURVIGO^® treatment in Fontan subject is to (1) improve their exercise capacity, (2) improve their ability to perform everyday physical activities with less effort, and (3) potentially improve their life expectancy and quality of life. Another potential benefit associated with JURVIGO^® treatment may be the slowing of the progression of Fontan-associated liver disease in the Fontan subjects.

Founder and CEO, Mr. Dong-Hyun Park, shared, “We have secured the funds necessary for stable and aggressive progress of FUEL-2 and for submitting to regulatory authorities in other countries including Europe. We submitted the FUEL-2 protocol to the FDA and partnered with a leading global CRO for what will be the largest clinical trial ever conducted in Fontan patients. In addition, we are expanding on global partnerships with hospital systems, advocacy groups, provider networks, and industry leaders dedicated to improving outcomes for those with SV-CHD. Our hope is that by continuing to invest in and support the Fontan patients, others will be inspired to do the same.”

The investment is a paid-in capital increase from BRV Capital Management (“BRV Capital”), a global growth investment platform of BlueRun Ventures, a Silicon Valley-based institutional investment firm known for its early lead investment in PayPal and Waze, the core technology behind Google Maps. Within their healthcare segment, BRV Capital invests in promising biotech companies that can dominate the global market based on differentiated products. BRV has made successful investments/exit into ST Pharm and Arvelle Therapeutics.

Mr. Yoon Kwan, CIO of BRV Capital, stated, “BRV Capital participated in the Cardiology Conference by Children’s Hospital of Philadelphia (CHOP) in Puerto Rico at the end of February of this year and met many doctors and heart disease related professionals in person as part of its diligence effort. And also, we’ve been thoroughly reviewing Mezzion’s FUEL-1 data and the U.S. FDA’s response letters and comments carefully for a long time. As a result, the possibility of new drug approval based on the FUEL-2 Protocol was evaluated very high, so the head office decided to invest in Mezzion.”

Mr. Kwan continued with, “The future market value was estimated considering attainable drug price after commercialization. BRV, as an institutional investor that focuses not on short-term profits, but on differentiated technology-based investments that can substantially grow, we would like to provide support from the new drug approval of udenafil to the success of global commercialization with strong partnership. We also subscribe to Mezzion’s corporate philosophy of helping all the patients around the World who are suffering from congenital diseases to open-up a new life.”

About BRV Capital Management:

BRV Capital is a tech-focused growth equity arm of BlueRun Ventures, with a highly localized presence in Asia. BRV Capital helps to create unique long-term growth by backing category winners in their respective industries and maximizing their potential through leveraging over 20 years of deep industry insight and global expertise in applying technological innovations. 

Founded in 1998, BlueRun Ventures has identified and led several iconic technology investments as the first institutional investor, including PayPal (PYPL), Waze (GOOG), Coupa (COUP), Kabbage (AMEX), Topsy (AAPL), and Chomp (AAPL). BRV Capital in parallel focuses on technology-powered growth opportunities in Asia, and its current select investments include Ecopro Materials (leading EV battery component technology provider in Korea), LINE MAN Wongnai (top O2O platform in Thailand), and Green Labs (leading agricultural technology company pioneering digitalization of the entire agriculture value chain). BRV Capital closed its third Asia-focused fund, BRV Lotus Fund III, in 2021 and will continue to focus on cross-border value creation leveraging BRV’s deep and long investment insight into mobility. 

About Mezzion Pharma Co., Ltd. Mezzion Pharma Co., Ltd. is headquartered in Korea. Mezzion and its wholly owned subsidiary, Mezzion Pharmaceuticals, Inc., have administrative offices in Deerfield, Illinois and Boca Raton, Florida. Mezzion Pharma is an innovation-driven pharmaceutical company that is focused on discovering, developing, and commercializing novel therapeutics in the field of rare pediatric diseases. Mezzion Pharma is a publicly listed pharmaceutical company in Korea on the Korean stock exchange under (140410:KOSDAQ).

Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding: Mezzion Pharma’s expectations regarding the potential benefits of udenafil; Mezzion Pharma’s expectations regarding the anticipated timing of any future clinical trials; Mezzion Pharma’s expectations on regulatory submissions for marketing approval of udenafil for the treatment of patients that have undergone the Fontan operation, to improve exercise capacity in the United States, including the timing of these submissions; and Mezzion Pharma’s expectations regarding the potential commercial launch of udenafil, including the timing of a potential approval of udenafil. Risks and uncertainties that contribute to the uncertain nature of the forward-looking statements include: the expectation that Mezzion Pharma will need additional funds to finance its operations; Mezzion Pharma’s or any of its collaborative partners’ ability to initiate and/or complete clinical trials; the unpredictability of the regulatory process; the possibility that Mezzion Pharma’s or any of its clinical trials will not be successful; Mezzion Pharma’s dependence on the success of udenafil; Mezzion Pharma’s reliance on third parties for the manufacture of Mezzion Pharma’s udenafil and udenafil tablets; possible regulatory developments in the United States and foreign countries; and Mezzion Pharma’s ability to attract and retain senior management personnel.

These and other risks and uncertainties are described more fully in Mezzion Pharma’s most recent filings with the Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to FDA review and approval, product development and acceptance, manufacturing, competition, and/or other factors, which are outside the control of Mezzion Pharma. All forward-looking statements contained in this press release speak only as of the date on which they were made. Mezzion undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Media Contact:

Dr. James Yeager, Deerfield, Illinois, USA, Tel: +1-847-2122679
Email: [email protected]

Mr. S.I. Noh, Seoul, Korea, Tel: +82 2 560 8000
Email: [email protected]

SOURCE Mezzion Pharma Co. Ltd.

Series B Total of $20 Million to Drive Research & Development of AI-Based Computer Vision Solutions, Expansion Into Industrial and Other Non-Automotive Applications

PORTLAND, Ore., April 25, 2023 — PreAct Technologies, a market leader in near-field software-definable flash LiDAR technology, today announced the second close of the company’s Series B funding round. Led by I Squared Capital, PreAct raised a total of $20 million in the series B with participation from previous investors State Farm Ventures®, Luminate, and Traylor Capital among other new and existing investors. In addition, the company has established its new European headquarters in Barcelona, Spain.

In January of this year, PreAct acquired AI-driven computer vision and gesture recognition company, Gestoos, which combines the company’s powerful AI algorithm development platform with PreAct’s best-in-class flash LiDAR to create a unique environment to quickly solve difficult use cases such as in-cabin and cargo monitoring. Marrying a powerful AI algorithm development platform with PreAct’s LiDAR gives the company a greater ability to intelligently process sensor data on the edge, as well as being less reliant on system integrators to deliver new applications or differentiated software-defined services.

“The amount of interest we are seeing from industries such as robotics, agriculture and healthcare has been mind-blowing – it’s clear that there is a strong need for powerful AI-based computer vision technology that is both affordable and able to stand the test of time by being fully software definable,” said Paul Drysch, CEO of PreAct Technologies. “Our team is excited and ready to meet the needs of customers in a variety of use cases that, until now, have been too difficult and too expensive to address.”

Markets such as automotive, healthcare, smart buildings, consumer electronics, robotics and trucking require ever more powerful sensors capable of quickly and accurately mapping their surroundings.  PreAct’s mission is to support these users with reliable and affordable systems that can be quickly tailored to integrate with their existing software stacks and continually upgraded to enable new use cases for enhanced system monetization.

About I Squared Capital

I Squared Capital is an independent global infrastructure investment manager with over $36 billion in assets under management focusing on utilities, digital infrastructure, energy, transport, environmental infrastructure and social infrastructure in North America, Europe, Latin America and Asia. Founded in 2012, the firm has offices in Miami, London, New Delhi, Hong Kong, Singapore, Taipei and Sydney.

About PreAct Technologies

About PreAct Technologies
PreAct Technologies is the market leader in near-field software-definable flash LiDAR technology. Its patent-pending suite of sensor technologies provide high resolution, affordable LiDAR solutions to a wide range of industries including automotive, healthcare, ITS, industrial, consumer electronics, robotics and trucking. The firm is headquartered in Portland, Oregon, with offices in Ashburn, Virginia, Rochester, NY and Barcelona Spain. For sales inquiries, please contact [email protected]. For more information, visit www.preact-tech.com.

Press Contact:

Angela Simoes
4153022934
http://www.preact-tech.com

SOURCE PreAct Technologies

Ledgebrook, an insurtech MGA startup focusing on middle market E&S, has closed a $4.6M funding round led by Markd with participation by Brand Foundry Ventures

BOSTON, April 25, 2023 — Ledgebrook, a Boston-based insurtech founded in March 2022, has announced that it raised a $4.6M round of funding to scale its flagship non-admitted GL & Supported Excess product & support the development of future offerings.

By leveraging a combination of both the best of modern technology and underwriting expertise, Ledgebrook aims to differentiate itself by offering the fastest, smoothest quoting experience to its wholesale broker partners.

Buoyed by the positive reception to the launch of its first product, Ledgebrook will look to move quickly in staffing up to accommodate demand and recruiting the next set of underwriting leaders to launch additional LOB on the back of the same core tech stack.

Led by Parker Beauchamp at Markd, the round is structured as an uncapped SAFE and brings Ledgebrook’s total funds raised to $8.8M.

“For many reasons, I love and have an immeasurable amount of confidence in Gage, and I want to help him in anyway that I can.” said Beauchamp, “E&S was the largest, most profitable, and most painful to place business in every agency/brokerage operation I have ever been involved in. I’m glad someone is capable and willing to go after it.”

“I’m absolutely thrilled to bring Parker aboard Team Ledgebrook,” said Founder & CEO Gage Caligaris, “his experience of having placed >$1B in premiums as the owner of a retail brokerage makes him uniquely qualified to offer insight and support to Ledgebrook as we grow.”

Ledgebrook’s Seed round was led by Brand Foundry Ventures who, alongside a handful of other angels, added to their investment by participating in the SAFE.

“This opportunistic capital infusion couldn’t come at a better time,” said Caligaris “The unwavering support of trusted partners and a war chest in our back pocket allows Ledgebrook to stay laser-focused on execution in the wake of launching our first product.”

About Ledgebrook

Ledgebrook is a tech-enabled E&S MGA looking to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via their innovative next-gen tech stack. Led by insurance industry veterans, Ledgebrook offers the best of both worlds: deep insurance expertise empowered by the best of modern technology. Visit us at ledgebrook.com

About Markd

Markd is a venture capital company focused on funding and partnering with transformative insurtechs. It pays homage to the insurance industry’s legacy while helping design its future. Markd’s mission is to power substantial work and continually inspire more ideas to prevent hurt and loss.

SOURCE Ledgebrook

Investment from New Mountain – as well as reinvestment from FFL Partners, WestView Capital Partners, and ALKU management – supports ALKU on its plan to surpass $1 billion in revenue by 2025

ANDOVER, Mass., April 25, 2023 — ALKU, a leading specialty staffing firm, today announces a new majority investment from New Mountain Capital, a leading growth-oriented investment firm. Reinvesting alongside New Mountain are FFL Partners, WestView Capital Partners, ALKU Founder & CEO, Mark Eldridge, as well as ALKU management. The investment, which is expected to close in May, marks a major milestone for ALKU, which is projected to exceed $1 billion in revenue over the next few years.

“This partnership supports the entrepreneurial spirit of ALKU and its employees, strengthening our growth path with the expertise of our partners,” said ALKU Founder & CEO, Mark Eldridge. “New Mountain’s experience in human capital management, life sciences, and our other key markets will enable us to draw on a deep network of contacts and knowledge that will support our continued industry-leading growth. We are thrilled that our current partners have decided to reinvest with us, and this continuity will allow for continued execution of the strategies that have worked so well.”

ALKU was founded in 2008 and has quickly become an industry leader, having achieved close to $600 million in revenue and best-in-class organic growth of approximately 30% annually since 2013. New Mountain’s investment will support ALKU’s continued growth, benefiting ALKU employees with opportunities for career development, promotions, and equity ownership.

“Our investment in ALKU is the result of New Mountain’s long-standing effort around the Future of Work and companies that help their clients identify, attract, develop, and retain the talent needed to succeed. Mark and the ALKU leadership team have built a true market-leader that provides highly specialized, expert talent for critical enterprise initiatives in the talent constrained areas of life sciences, enterprise cloud technology, data science and cybersecurity,” said Lars Johansson, Managing Director at New Mountain Capital.

Partnering alongside New Mountain is existing majority investor, FFL Partners, as well as WestView Capital Partners, which will be making its third investment in ALKU. 

“Mark and his team have built the most differentiated high-end, specialty staffing firm in the country, and we’ve been proud to support them over the last four years,” said Cas Schneller, Managing Partner of FFL Partners. “ALKU has tremendous growth potential, and we are excited to welcome New Mountain as a new partner for this next chapter.”

ALKU and its existing investors were advised by William Blair as the exclusive financial advisor and Kirkland & Ellis, Latham & Watkins, and Blank Rome as legal counsel. Ropes & Gray served as legal counsel to New Mountain Capital.

About ALKU
ALKU is the leading contingent staffing firm focused on deploying highly-skilled, specialized consulting resources in the areas of enterprise technology, life sciences, data science, cybersecurity, and government. ALKU is consistently ranked on prestigious ‘Best Places to Work’ lists across the country and has a 15+ year track record of training and developing talent. Given ALKU’s unique culture, focus on training and development, and highly-specialized, division-led operating model, ALKU has grown at an industry-leading pace since its founding in 2008.  

About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, and net lease real estate funds with over $37 billion in assets under management. New Mountain seeks out what it believes to be the highest quality leaders in carefully selected “defensive growth” industry sectors and works intensively with management to build the value of these companies. Additional information about New Mountain Capital is available at www.newmountaincapital.com.

Media Contact:
Brittney Figueira
(978) 587-1616
[email protected]

SOURCE ALKU

LONDON, April 25, 2023 — nChain today announces its partnership with Libraro to revolutionise the book publishing industry with blockchain technology. nChain is investing £2 million into the company and taking a 20% equity stake to drive the development and adoption of Libraro’s solution.

Emerging from the successful and innovative blockchain incubator programme Block Dojo, which forms part of nChain Group, Libraro harnesses the power of crowd reading to connect authors with readers and publishers in an innovative way.

“We’re very excited to partner with nChain and leverage their expertise in blockchain technology,” said Arsim Shilova, Libraro CEO. “Their investment will help us build a state-of-the-art, secure and scalable platform for aspiring authors to showcase their work, protect their intellectual property, and engage with their audience.”

By leveraging nChain’s robust Web3 and Blockchain IP portfolio, the partnership will enhance Libraro’s platform capabilities. nChain will also support Libraro through development and professional services, using their expertise in building apps and providing back-end blockchain infrastructure.

Christen-Ager Hanssen, nChain Group CEO, added that “We’re happy to announce our partnership with Libraro. With our expertise and development capabilities nChain will be their tech partner, using our IP portfolio, to boost their product offering. This solution has the potential to transform the publishing model by empowering readers and helping new writers get published. Our collaboration with Libraro is another great use case in another industry where we are making an impact.”

With the book industry worth $112 billion globally, this partnership aims to create a more open, transparent, and inclusive publishing industry.

About Libraro

Libraro is the world’s first digital literary agent that is creating a decentralized, digital infrastructure to discover new talented authors and offer publishing houses an opportunity to discover fresh and original content. Their scalable, secure and sustainable solution provides a platform for writers to connect directly with readers, build a fan base, and gain valuable insights before the book is published.

SOURCE nChain

HOUSTON, April 25, 2023 — Genesis Park, through its investment fund, GP Capital Partners, LP, is pleased to announce its recent investment in Good Feet Midwest (the “Company”), one of the largest developers and operators of the Good Feet Store. Genesis Park provided a debt and equity investment, alongside Exaltare Capital Management and Tecum Capital, to support the acquisition.

The Good Feet Store, founded in 1992, is a premium brand in the custom-fit orthotic insoles market, with approximately 215 retail locations. The Good Feet Store sells a system of customized orthotics to alleviate intense foot, ankle, knee, hip, or back pain personally fitted to the precise needs and preferences of its customers. Good Feet Midwest, founded in 2000, is the second largest franchisee in the Good Feet Store system with 23 stores located across Florida, Illinois, Iowa, Kansas, Missouri, Nebraska, Oklahoma, Texas, and Wisconsin.

Gina Luna, Managing Partner of Genesis Park said, “The Good Feet Store is a leading retailer in the custom-fitting orthotics market with over 25 years of experience. We are enthusiastic to partner with an experienced investor group and management team to support Good Feet Midwest through this next phase of growth. Exaltare brings invaluable experience having successfully scaled multi-unit franchise systems in the past.”

About Genesis Park

Genesis Park is a Houston-based private credit and equity investment firm. Its current investment fund, GP Capital Partners, LP, is licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration. Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park generally targets companies with at least $10 million of revenue and $2 million of EBITDA, with proven business models and seasoned management teams. Managed by four experienced investment professionals with broad regional relationships, Genesis Park is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success. For more information, visit www.genesis-park.com.

About The Good Feet Store

Founded in 1992, The Good Feet Store is the market-leading manufacturer and retailer of premium, personally fitted arch supports, with more than 200 retail locations in the U.S. and abroad. Engineered for comfort and pain relief in more than 400 styles and sizes, Good Feet Arch Supports are personally fitted to the precise needs and preferences of its customers and are backed by a Manufacturer’s Lifetime Limited Warranty. The Good Feet Store operates with an end-to-end approach to maximize performance and ensure consistent quality standards. Good Feet Arch Supports are manufactured in a state-of-the-art facility in Carlsbad, California, and supplied exclusively to its retail locations. Each Good Feet Store location is staffed with well-trained Good Feet Arch Support Specialists who provide customers with a no-obligation, free, personalized fitting. To learn more about The Good Feet Store and Good Feet Arch Supports, and to see Good Feet Store reviews from actual customers, visit www.goodfeet.com.

SOURCE Genesis Park