First dual-specific PD-L1/PD-L2 antibody with killing function designed to treat the many “immune-excluded” cancers that are resistant to existing immunotherapies

Phase 1b will focus on tumors that are resistant to existing immunotherapy, which may include ovarian, colorectal, and triple negative breast cancers

HOUSTON, June 27, 2023 — ImmunoGenesis, a clinical-stage biotechnology company developing science-driven immune therapies, and Cancer Focus Fund, LP, a unique investment fund established in collaboration with The University of Texas MD Anderson Cancer Center to provide funding and clinical expertise to advance promising cancer therapies, today announced that Cancer Focus Fund plans to invest $4.5 million to support the Phase 1a/1b clinical trial of ImmunoGenesis’ lead candidate, IMGS-001. IMGS-001 is a dual-specific PD-L1/PD-L2 antibody designed to treat immune-excluded tumors, which are resistant to existing immunotherapy. The investment will support the portion of the IMGS-001 Phase 1a/1b multi-site clinical trial being conducted at MD Anderson. It coincides with ImmunoGenesis’ Series A financing, which is expected to close in the third quarter.

“Overcoming the widespread resistance to immunotherapy in immune-excluded tumors requires re-envisioning the starting point for treatment,” said Dr. Michael A. Curran, Founder of ImmunoGenesis. “We are addressing this challenge by developing a novel, dual–specific PD–L1/PD–L2 inhibitor engineered to include tumor-killing effector function – essentially addressing tumor pathology at the roots. Based on the results of preclinical studies, we believe that IMGS–001 has the potential to significantly improve clinical response over currently approved checkpoint inhibitors for patients with immune-excluded tumors.”

IMGS-001 is based on discoveries made by the laboratory of Dr. Curran, Associate Professor of Immunology at MD Anderson, and by the Oncology Research for Biologics & Immunotherapy Translation (ORBIT) platform, part of MD Anderson’s Therapeutics Discovery division. The technology was licensed to ImmunoGenesis in 2019.

“The Cancer Focus Fund Scientific Advisory Board is made up of expert scientists and clinicians and to be recommended for an investment by this group is an honor that we believe provides validation of the clinical potential for IMGS-001,” said James Barlow, ImmunoGenesis President and CEO. “We believe that IMGS-001 has the potential to become the foundational treatment for immune-excluded tumors where there is both significant unmet need and tremendous market opportunity. This funding, combined with our upcoming Series A financing, will provide the opportunity to establish the initial proof of concept for this groundbreaking approach and bring hope, and potentially life-saving treatments, to the patients battling these difficult tumors.” 

“Cancer Focus Fund was founded with the goal of assuring that innovative early-stage cancer therapies had the opportunity to undergo the rigorous clinical testing needed for advancement,” said Ross Barrett, a founder and Managing Partner of Cancer Focus Fund. “We are thrilled at the opportunity to invest in the exciting new approach to cancer immunotherapy pioneered by Dr. Curran – our first investment in a discovery made at MD Anderson and developed by a biotechnology company located here in Houston. Immune-excluded tumors are thought to represent more than half of all cancers and contribute to the high failure rates that limit the potential of cancer immunotherapy for too many patients. We welcome the opportunity to support ImmunoGenesis by investing in this promising candidate and look forward to the results of this important clinical trial.”

About the IMGS-001 Phase 1a/1b Clinical Trial
This funding will support a Phase 1a/1b, first-in-human, open-label, dose-escalation and dose–expansion study to evaluate the safety, tolerability, pharmacokinetics, immunogenicity, and preliminary anti-tumor activity of IMGS-001. Phase 1a is a dose-escalation study that aims to determine the safety, tolerability, and maximum tolerated dose (MTD) of IMGS-001 in adult patients with locally advanced or metastatic solid tumors refractory to appropriate standard of care treatments. Phase 1b is an open-label, dose-expansion cohort study of patients with prespecified tumors intended to further assess the safety and preliminary antitumor activity of IMGS-001. Dr. David S. Hong, Professor of Investigational Cancer Therapeutics at MD Anderson, will serve as Principal Investigator of the trial.

About IMGS-001, a PD-L1/PD-L2 Dual-Specific Inhibitor
IMGS-001, the lead program at ImmunoGenesis, is a PD-L1/PD-L2 dual-specific inhibitor with engineered cytotoxic effector function. IMGS-001 is the first molecule to target PD-L2 in addition to PD-L1. This means that IMGS-001 has the potential to shut down the entire PD-1 pathway and provide a superior blockade compared to other PD-1 or PD-L1 inhibitors. The engineered effector function enables IMGS-001 to kill immunosuppressive PD-L1- and/or PD-L2-expressing cells present in the tumor microenvironment, which may enable it to overcome immune resistance in immune-excluded tumors. Preclinical data showed that IMGS-001 drove substantially higher response rates in head-to-head studies vs. currently available immunotherapies. With its innovative multi-tasking mechanism of superior blockade and killing function, IMGS-001 may provide a new foundation for combination therapies.

About ImmunoGenesis
ImmunoGenesis is a clinical-stage immuno-oncology biopharmaceutical company re-envisioning the treatment of immune-excluded tumors. Immune-excluded tumors, which account for more than half of all cancers, are characterized by having mechanisms of resistance that suppress the immune response. ImmunoGenesis is creating therapies based on the pathology of these immune-excluded tumors that are rationally designed to overcome immune exclusion and thereby drive an effective immune response. For more information, visit www.immunogenesis.com. 

About Cancer Focus Fund
The Cancer Focus Fund LP is a unique investment fund established in collaboration with The University of Texas MD Anderson Cancer Center. The fund provides investment support to advance promising cancer therapies that are close to being tested in humans or are in early clinical development, along with the clinical trial expertise and infrastructure of MD Anderson and strategic partners Ochsner Health System Precision Cancer Therapies Program New Orleans and the LSU Feist Weiller Cancer Center Shreveport. The Fund’s objective is to leverage this unique combination to provide investors with superior risk-adjusted returns by supporting significant advances in cancer treatments. In collaboration with partner MD Anderson, the Cancer Focus Fund provides both capital and translational research expertise with the goal of accelerating the development of novel cancer therapies that result in better outcomes for patients while generating returns for investors.

Disclosures
Dr. Curran’s financial relationship with ImmunoGenesis is managed and monitored by the MD Anderson Conflict of Interest Committee.

The University of Texas MD Anderson Cancer Center’s relationships with Cancer Focus Fund and ImmunoGenesis, and all research conducted at MD Anderson related to Cancer Focus Fund or ImmunoGenesis, have been identified as institutional financial conflicts of interest by MD Anderson’s Institutional Conflict of Interest Committee and therefore are managed under Institutional Conflict of Interest Management and Monitoring Plans.

SOURCE Cancer Focus Fund and ImmunoGenesis

This latest funding round bolsters the company’s position as a pioneering company digitizing the mobility industry and sets the stage for further growth and innovation

TEL AVIV, Israel and PALO ALTO, Calif., June 27, 2023 — NoTraffic, the leading mobility platform, announced today the successful completion of a $50 million Series B funding led by M&G Investments with participation from VNV Global and UMC Capital, as well as existing investors Grove Ventures, Vektor Partners, Next Gear Ventures, North First Ventures, Meitav Investment House, Alchimia Investments, and TMG. The new round allows NoTraffic to accelerate its growth momentum, increasing production, R&D and sales into new global markets including Japan, Italy, Germany, and the UK.

NoTraffic’s core infrastructure market is currently experiencing significant tailwinds and its most successful period to date, thanks in part to the $1.2 trillion US infrastructure bill. In addition, several structural factors continue to drive demand for digital transformation in the mobility space, not least of which is the pressing need to reduce traffic fatalities, alleviate road congestion which grows 12% each year, and reduce CO₂ road emissions, which account for 29% of the US total. NoTraffic is well placed to support this digital transformation with its effective, practical and economical solutions.

Over 100 years have passed since the first electric traffic light was installed in Cleveland, Ohio in 1914. Now, with countless industries witnessing a digital overhaul and most traffic signals still operating on pre-set timing plans, the traffic industry is ripe for innovation and modernization. With a seamless deployable solution that is retrofitted onto existing infrastructure, NoTraffic offers a first-of-its-kind AI-powered platform paired with a software-defined SaaS platform, empowering Departments of Transportation (DOTs) and other stakeholders to manage traffic in real time. Acting as a one-stop shop for all mobility needs and cutting down interdependencies on expensive legacy vertical solutions with limited interoperability, NoTraffic offers a first-ever mobility marketplace with access to multiple services for enhanced safety, data analysis, efficiency, detection and more. In addition, by leveraging a network of smart sensors deployed at signalized intersections, conflict points, or complex roadways, the platform gives traffic authorities and infrastructure operators the ability to fully control and prioritize traffic flow for all kinds of transportation — cars, bicycles, buses, pedestrians and more. NoTraffic utilizes edge computing technology, pioneering unparalleled software-defined infrastructure that facilitates real-time decision making at both local and cloud levels.

“NoTraffic is poised to elevate traffic management beyond its legacy infrastructure boundaries. Much like mobile phones disrupted the fixed line of their business, it was Apple’s AppStore that opened the door to a vast range of new applications, business models and revenue pools. NoTraffic’s SaaS platform is designed to similarly create unique insights and functionalities that can flexibly be provided to stakeholders without changes to the infrastructure,” said Tal Kreisler, Co-Founder and CEO of NoTraffic. “This funding is another step in our mission to revolutionize the way traffic is being managed today and enables the next generation of advanced mobility services to help better adapt our infrastructure for the rise of autonomous vehicles.”

NoTraffic quickly transforms any signalized intersection into a cloud connected and dynamic network capable of understanding the complete traffic picture in any given area to respond instantly to all road users. The system fuses and shares data generated by NoTraffic’s proprietary intelligent edge sensors together with connected and autonomous vehicles (V2X) data and other data sources to manage traffic flows in real-time. This technology is enabling a turning point for communications between road users and traffic infrastructure and is poised to be a fundamental milestone in the rise of the next generation of mobility.

“NoTraffic is solving longstanding urban problems while simultaneously taking critical steps to prepare roads for an era of connected and autonomous vehicles,” said Carl Vine at M&G Investments.

“NoTraffic’s obvious value proposition is supported by its robust business model and clear vision for the future. We believe the company can scale its cutting-edge technology solution to capture a significant share of this exciting and important sector. In doing so, NoTraffic will make our urban environments cleaner, safer, and more efficient,” added Praveg Patil, from M&G Investments’ Catalyst team.  

NoTraffic works with a network of partners and distributors to support local and state Departments Of Transportation to provide an efficient and affordable platform that seamlessly integrates with existing infrastructure. It is currently deployed in numerous locations across North America, including in California, Texas, Pennsylvania, Colorado, Georgia and more, serving millions of drivers per day. The company’s innovative technology was recognized and awarded as a TIME100 Most Influential Company in 2022. 

About NoTraffic
NoTraffic, the developer of the world’s leading mobility platform, is on a mission to digitize the backbone of transportation and streamline the next generation of traffic mobility. The company’s end-to-end, plug-and-play autonomous traffic management platform leverages AI and edge computing to reconfigure signalized city intersections into one fully automated, cloud-connected hub. In less than 2 hours of installation, the platform can classify all road users including – private vehicles, public transportation, emergency services, pedestrians and more – and respond accordingly to traffic conditions in real-time to reduce travel times and CO₂ emissions and improve safety. Ranked in TIME Magazine’s 100 Most Influential Companies list, NoTraffic is trusted by leading states in North America and has formed strategic partnerships with major communication giants such as AT&T and Rogers Communications. The company was founded in 2017 by Tal Kreisler, Uriel Katz, and Or Sela.

To learn more about NoTraffic, visit: https://www.notraffic.tech

About M&G Investments
M&G Investments have made this investment from funds that include its Catalyst strategy. Catalyst is a global, flexible strategy investing in companies with innovative solutions to some of the world’s biggest environmental and social challenges.” 
M&G Investments is part of M&G plc, a savings and investment business with over $425 billion of assets under management (as at 31 March 2023). M&G plc has customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.

For more information, please visit: https://global.mandg.com/

Media Contact
Mike Katznelson
Headline Media
[email protected]
IL: +972 58 428 8810
US: +1 914 373 7841

SOURCE NoTraffic

ESPOO, Finland, June 27, 2023 — The VTT spin-out will build a heating plant powered by a small nuclear reactor, designed to produce heat efficiently, safely and carbon-neutrally, at considerably lower temperature and pressure than traditional nuclear reactors.

Steady Energy, a spin-out company from VTT Technical Research Centre of Finland, that aims to decarbonise the energy-intensive heating industry starting with residential and district heating, has raised EUR 2 million in seed funding led by VTT, Yes VC and Lifeline Ventures. Steady Energy aims to build the world’s first LDR-50 reactor-based heating plant by 2030. The company will use the raised funding for research and development work to demonstrate the functionality of the plant by building a 1:1 scale mockup powered by electric heat.

The LDR-50 district heating reactor is a small modular nuclear reactor which has been in development at VTT since 2020. LDR-50 is a type name for a reactor with a heat output of 50MW. Designed to operate at around 150 degrees Celsius and below 10 bar (145 psi), its operating conditions are less demanding compared to those of traditional reactors, simplifying the technical solutions needed to meet the high safety standards of the nuclear industry.

“The pressure required by the LDR-50 reactor is comparable to the pressure that of a household espresso machine. It operates at a lower pressure than a district heating network. This ensures that in case of a malfunction which leads to a leak, the leak is contained within the heating plant, without endangering people or the environment,” says Tommi Nyman, CEO of Steady Energy.

About 50% of all energy consumed by EU households goes toward heating homes. European annual district heat consumption is approximately 500 TWh, out of which about 300 TWh is produced by fossil fuels. Decarbonising residential heating in Europe alone is a market with significant growth potential in the hundreds of billions of euros. Throughout Europe, there are approximately 3,500 district heating networks which serve 60 million people, largely powered by fossil fuels. Successful, large-scale decarbonisation of district heating can significantly cut greenhouse gas emissions.

“75% of district heating systems in the EU are currently powered by fossil fuel. The situation is even worse in China. Nuclear energy is already a major source of low-carbon electricity, and small modular reactors represent a pathway to expand the use of the technology to other energy sectors in addition to heating. On top of being safer than traditional reactors, SMRs are more affordable. We’re setting up a demonstration plant for district heating purposes ideally in Finland, but our long-term plan is to have several plants operating around the world, producing carbon-neutral heat to homes, offices and for various industrial applications. We will bring to market the world’s best nuclear energy technology optimized for the heating sector,” continues Nyman.

The passive heat removal solution incorporated into the LDR-50 reactor has a major role in its safety. Passive systems make it possible to meet extremely high safety requirements with simplified technology.

The LDR-50 reactor module is made of two nested pressure vessels, with their intermediate space partially filled with water. When heat removal through the primary heat exchangers is compromised, water in the intermediate space begins to boil, forming an efficient passive heat transfer route into the reactor pool. The system does not rely on electricity or any mechanical moving parts, which could fail and prevent the cooling function. The innovation was awarded a patent in 2021. 

“Nuclear power know-how, national energy policy and the world’s leading district heating network provide the world’s best starting point for Steady Energy to start its business specifically in Finland,” says Timo Ahopelto, Founding Partner at Lifeline Ventures.

“Europe and the United States have woken up to the fact that small reactors will become part of energy production already during this decade. We are talking about a very significant market globally,” says Jyri Engeström, Founder and Partner at Yes VC.

“At VTT, we’ve been turning hope into action for 80 years by driving scientific innovation to change the world and businesses for the better. Right now, humanity is facing its most challenging adversary, climate change. We are on a journey to explore tomorrow’s technologies and innovate cutting-edge solutions to build the carbon-neutral societies of the future. Steady Energy represents our commitment to our purpose and embodies the hope we want to bring to the world,” says Jussi Manninen, Executive Vice President of VTT.

Steady Energy will plan its business models according to the needs of the customer and is ready to deliver heating plants directly to customers.  The unit size of LDR-50 is 50 megawatts, which is sufficient for heating a small city. A single heating plant can have multiple reactors. The heating plant could even be used as a desalination plant to produce fresh water in areas of the world suffering from water shortage, or it can be modified to produce steam for industrial purposes.

“To preserve our planet and ensure generations to come have a healthy planet, all combustion-based heating must come to an end. Alongside renewable energy, nuclear energy provides a steady source of energy and heat that meets the needs of modern society and helps us in our fight against climate change,” concludes Nyman.

The project has been part of VTT LaunchPad, a science-based spin-off incubator, where VTT researchers and technology are brought together with the best business minds and investors out there to renew industries. VTT LaunchPad supports incubator teams to develop VTT-owned IPR into fundable spin-off companies.

For additional information:

Further information about the LDR reactor and district heating

Media kit with pictures

Steady Energy
Tommi Nyman, CEO
+358 503607823, [email protected]

VTT Technical Research Centre of Finland Ltd
Jussi Manninen, Executive Vice President
tel. 358 405355947, [email protected],

Steady Energy Oy

Steady Energy is a Finnish company dedicated to providing uninterrupted zero-emission energy solutions. The foundation of its technology lies in the low-temperature and low-pressure LDR-50 nuclear reactor developed at VTT Technical Research Centre of Finland. The reactor is designed to produce heat efficiently, safely and carbon-neutrally. www.steadyenergy.com

Yes VC

Yes VC is a Silicon Valley-based venture capital firm founded by Jyri Engeström and Caterina Fake. It has invested in e.g. supersonic passenger jet Boom Supersonic, AI company Adept AI and carbon capture business Heirloom Carbon. http://yes.vc, Twitter@YesVC,LinkedIn

Lifeline Ventures

Lifeline Ventures is a Finnish VC focusing on early-stage investments. The company invests widely in companies from games to industrial startups. It has invested in, e.g., Supercell, Oura, Wolt, Solar Foods, Norsepower, and P2X Solutions.www.lifelineventures.com

CEO Tommi Nyman and CTO Hannes Haapalahti from Steady Energy (Photo by Timo Kauppila).

Further information on VTT:
Paula Bergqvist, Senior Specialist, Communications
+358 20 722 5161, [email protected]
www.vttresearch.com

The following files are available for download:

SOURCE VTT Info

– Specialist gaming tech company helps developers and publishers maximize the earning power of their IP – 

LONDON and BRATISLAVA, Slovakia, June 27, 2023 — SuperScale, the revenue growth engine for the games industry, with pioneering game management and publishing services, today announces it has raised USD $5.4 million (EUR €5 million) in a Series A funding round. The funding will enable SuperScale, which has worked with major game publishers including EA, Fingersoft, and Big Fish Games, to expand its market-leading services aimed at transforming commercial effectiveness across a game’s entire infrastructure.

Founded in 2015, SuperScale offers a comprehensive SaaS analytics platform which helps game developers and publishers identify revenue-boosting strategies, as well as expert publishing and game management services to grow game earnings. The company’s Series A round was led by Venture to Future Fund with participation from Across Private Investments and Zero One Hundred and is the company’s first major capital raise following a small seed round in 2020. Since then, SuperScale has successfully grown into a 70-strong team with offices in London, Bratislava and Gdańsk.

The new funding will enable SuperScale to expand its revenue-growth services and offer them to more developers and publishers globally. This includes its pioneering ‘Venture Publishing’ approach, where SuperScale invests into customers’ games, taking on direct responsibility for their marketing, monetization and LiveOps. This investment is recouped from a revenue share on the additional profit subsequently generated by the games.

Ivan Trancik, CEO and Founder at SuperScale, commented:

“For nearly 10 years SuperScale has been quietly gaining traction with its unique blend of data and professional services – combined with a ‘grow games or go home’ approach. In 2023, it’s arguably more difficult than ever for companies to scale their games, so it felt like time to expand the scope and depth of our services to support more developers and publishers to succeed. This funding endorses the incredible hard work of our team, and will help us hit major milestones in our ambitious roadmap as we drive rapid growth for SuperScale and our customers alike.”

Tomáš Baláž, Vice-chairman of the Board of Directors at Across Private Investments, said:

“SuperScale offers an ingenious blend of scalable technology and an expert team which combine to create something unique and remarkable in the market today. It has an innovative yet robust business model which is ideal for the current economic climate both globally and within the games industry specifically. We couldn’t be more excited to make this investment into Ivan and the SuperScale team. It has been a privilege for Across to be a part of this unique and once in a generation opportunity emerging in our region.”

Ian Marsh, Co-Owner of U.S. mobile games developer and publisher, NimbleBit, which works with SuperScale on its popular titles including Tiny Tower and Pocket Frogs, said:

“SuperScale’s approach is a win for us. We retain ownership of all our IP while they continually manage, improve and grow our titles for a share of the profit. We’re now seeing record-breaking revenue from 10-year old games, which in this landscape is monumental.”

SuperScale is experiencing huge growth in demand driven by unprecedented changes to the business model of mobile games following Apple’s privacy-first policy changes in 2021. The company has doubled its headcount since 2019 and opened a dedicated London office in 2022 and Gdańsk office in 2023 in addition to its Bratislava HQ.

About SuperScale

Founded in 2015, SuperScale helps video game developers and publishers of all sizes maximize revenue through predictive analytics, monetization, marketing and other services aimed at driving games’ commercial success. The company, which has offices in Slovakia, the UK and Poland, has supported over 150 mobile titles, generating more than two billion downloads worldwide. SuperScale has helped games industry leaders including Electronic Arts, Lego, Big Fish Games and BoomBit expand their player bases, increase revenue, and create engaging experiences for gamers around the world. For more information, visit www.superscale.com.

For further info & interviews contact:

Thomas Huxter
Raptor PR for SuperSchttps://superscale.com/ale
+44(0)7886 788479
[email protected]com
SuperScale press kit: see here

Logo – https://mma.prnewswire.com/media/2140370/SuperScale_Logo.jpg

SOURCE SuperScale

NEW YORK and HOUSTON, June 26, 2023 — Republic Capital Group (“Republic Capital”), an M&A advisory firm specializing in providing investment banking services to the financial services industry, is pleased to have served as exclusive financial advisor to MONECO Advisors (“MONECO”) on its strategic, minority investment from Emigrant Partners (“EP”). The announcement marks Republic Capital’s sixth transaction during the first six months of 2023.

MONECO is an independent wealth management business headquartered in Fairfield, CT with offices in Connecticut, New Jersey, and Rhode Island. The firm manages more than $1.5 billion in AUM across more than 2,300 clients. EP’s partnership will provide MONECO with capital and strategic resources to support the firm in its next phase of growth.

EP is a specialist capital and advice partner that makes minority, non-voting investments into wealth and alternative asset management businesses. EP is currently partnered with 21 firms overseeing more than $90 billion in aggregate AUM and AUA.

Peter Nesvold, Partner of Republic Capital, said, “MONECO is a name that the wealth management industry will increasingly recognize. The firm has a strong acquisition pipeline that will supplement its organic growth.” Vic Esclamado, Partner of Republic Capital, added, “Simultaneously with EP’s investment, Republic Capital structured a shared equity program that converted MONECO from a 1099 platform to a W-2 model with distributed ownership. The outcome is a win for all stakeholders.”

About Republic Capital Group
Republic Capital Group is an M&A advisory firm specializing in providing investment banking services to the RIA, wealth and asset management communities. We partner with firms that are at the leading edge of M&A activity and are active participants in the transformation of the industry.

For more information, please visit https://www.republiccapgroup.com/ and follow us on LinkedIn https://www.linkedin.com/company/republic-capital-group.

Republic Capital Group – securities offered through Kingswood Capital Partners, LLC.

Media Contact: Candace Langston VP of Marketing and Communications [email protected]  

SOURCE Republic Capital Group

AUSTIN, Texas, June 26, 2023 — MVP Index, the leading sponsorship measurement and valuation platform, today announced a $20 million Series B capital raise to accelerate the growth of its best-in-class product suite. Verance Capital, a prominent New York-based growth investment firm focused on sports, media, and live entertainment, led the round, demonstrating confidence in MVP’s vision, capabilities, and growth potential. MVP will utilize the capital raised to fuel the company’s expansion plans, accelerate product innovation, and strengthen its sales and marketing efforts.

With global brands spending more than $100 billion annually on rights, entitlements, media-visible signage, and branded content, the industry is becoming increasingly aware of the measurement gap preventing data-driven decision-making from playing the lead role in the partnership management process. MVP has established itself as a trusted currency for the world’s largest brands, agencies, leagues, properties, and rights holders, effectively becoming a clearinghouse to validate branded asset performance using a fully transparent valuation methodology.

“Audiences today have more control than ever before over the content they consume, and you’d be hard-pressed to find someone who wants more advertising inserted into that experience. As traditional ad vehicles continue to decrease in effectiveness, all roads in the quest for consistent, large-scale, attentive audiences lead to sports where the most impactful inventory isn’t adjacent to the game, it’s integrated into the game, which is exactly what we’re built to measure,” said Brian Foley, MVP’s Chief Executive Officer. “We are thrilled to add an experienced industry partner in Verance. Their investment not only acknowledges the remarkable work our team has accomplished but also validates our strategic approach to this market, and we look forward to their collaboration as we embark on the next chapter of our story.”

MVP has experienced rapid growth and achieved several significant milestones over the past three years. The company’s technology and methodology have gained widespread recognition for accurately measuring and valuing sponsored assets across broadcast, streaming, social media, audio, and experiential activations. In 2022, the company developed, launched, and patented its own computer vision technology, which represents the only solution in the market that is purpose-built to track and measure at the asset level. This powerful new approach allows MVP to deliver the most accurate and comprehensive sponsorship valuations to an industry that has failed to evolve beyond substandard systems that solely rely on antiquated logo-detection technology.

Verance’s investment in MVP reflects the firm’s commitment to supporting innovative sports, media, and live entertainment companies that are at the forefront of their industries. “Live sports represent a growing, attractive market for brand advertising dollars, and MVP’s technology brings a transparent, accurate, and cutting-edge system of measurement to the business of sports and entertainment,” said Jeremy Hoffman, Principal at Verance Capital. “We believe MVP’s computer vision software solutions will continue to support leading Fortune 500 brands, sports properties, and agencies in their mission to transform the industry.”

Verance joins Align Capital, MVP’s longstanding partner, and a roster of existing investors that includes current and former professional athletes, ownership groups and front office executives.

About MVP Index: Headquartered in Austin, Texas, MVP is the leading omnichannel sponsorship measurement and valuation platform across Sports and Entertainment. Their roster of partners includes Fortune 500 brands such as Amazon, Apple/Beats by Dre, Ally Financial, and Ford, as well as the trusted currency for the world’s top leagues and properties like the NHL, PGA TOUR, Dallas Cowboys, and Fenway Sports Group. For more information, visit www.mvpindex.com.

About Verance Capital: Verance Capital is a growth investment firm focused on sports, media, and live entertainment, including the technology and software that power these sectors. Verance takes a flexible and long-term approach to investing, leveraging industry expertise and an expansive global network to drive success for its partners. For more information, visit www.verancecap.com.

Media Contact:
Josh Feldman
[email protected]

SOURCE MVPindex

The San Juan-based company will use its funding to scale the platform in new markets and assist more individuals impacted by natural disasters in recovering from a catastrophe 

Raincoat aims to modernize the insurance industry by developing scalable weather insurance solutions that process instant individual claims based on the magnitude of the event – instead of the magnitude of losses incurred

SAN JUAN, Puerto Rico, June 26, 2023 — Raincoat, a startup developing scalable climate insurance solutions that enable instantly processed individual claims, today announced the closing of an additional $6.5 million seed round bringing its total raised to date to $11 million. The funding round was led by TwoSigma Ventures – along with European based VC firm Mundi Ventures, Revolution’s Rise of the Rest Seed Fund and EleFund. This round of capital will support the company’s expansion to new markets to provide FEMA-like services – much faster than existing emergency solutions – after particular disasters such as hurricanes and earthquakes in the Caribbean, Mexico, and the Gulf Coast, wildfires in the west, and threats such as flood, drought, and excessive rain in Colombia and Brazil. This funding will continue to accelerate innovation in an industry eager for new solutions and to protect over 3 billion people and 120 million businesses at risk of being affected by natural disasters.

In less than a year, Raincoat has provided disaster relief protection to thousands of individuals and families with successfully executed payments in all of their active markets. Today, Raincoat is positioned as the fastest growing insurtech startup aimed at reinventing the industry by enabling immediate payments following climate disasters and offering coverage for losses that traditional insurance companies typically exclude. Raincoat’s embedded parametric insurance model enables distribution channels to offer protection against the occurrence of a specific event given fixed parameters, such as the magnitude of the event – instead of the magnitude of losses incurred. Raincoat works with financial institutions, governments, and insurers to deploy automated, end-to-end products for protecting individuals and small businesses affected by these natural disasters.

The latest data reports that the total losses from natural catastrophes, including those not covered by insurance, were $270 billion in 2022. That is down from around $320 billion in 2021 and near the average of the previous five years.

“We look forward to pushing the limits of what’s possible and bringing our technology to more communities thanks to this new round of capital. Insurance should be there to protect you – and the expectation of payment after a catastrophe should not create anxiety – but rather bring ease,” said Jonathan González, Raincoat CEO and co-founder. “We are innovating today for the current and future generations and look forward to working with more local and international players to make this happen,” he added.

Raincoat was founded in response to the aftermath of Hurricane María, which struck Puerto Rico in 2017, and destroyed thousands of homes and businesses and left millions without power and water for months. Local residents, including families of the co-founders, waited on a slow and bureaucratic claim process only to be rejected months after submitting it. Three years later, Puerto Rico alone has $1.6 billion in outstanding insurance claims that remain unpaid.

“Climate disaster is now happening with more frequency and intensity than ever before, and the insurance industry at present, based on manual claim adjustments that take months or even years to process, just cannot scale to match the growing risk. The world needs innovative, scalable data-driven solutions like Raincoat to make businesses and families more resilient,” said Colin Beirne, Partner at Two Sigma Ventures.

“Investing in Raincoat represents a strategic opportunity to tap into the transformative potential of parametric insurance. Raincoat’s strong suit positions them as a prominent player in the industry. Their offering of fully automated solutions to address climate risks at-scale sets them apart in this space,” said Moisés Sánchez, General Partner at Mundi Ventures.

About Raincoat
As natural disasters increase in frequency and intensity, Raincoat develops white label climate insurance products enabling a new generation of parametric insurance-at-scale. Operating within the expanding space of parametrics, Raincoat’s uniquely B2B2C approach enables individual policies offered via partnerships with insurers, financial institutions, and governments. Creating highly-scalable climate insurance products, Raincoat aims to democratize financial resilience in the face of cataclysmic disasters. For those in need, its technology ensures instantly processed claims triggering payments when needed most. In 2023, Raincoat was recognized by Fast Company’s World Changing Ideas in the Rapid Response category. The company has raised a total of $11 million to-date. For more information please visit www.raincoat.com or download the press kit.

Contact
WLDFLWR PR
Catherine Cuello-Fuente
[email protected] 

SOURCE Raincoat

Funding to support product development and initiate clinical experience of first-of-its-kind surgical treatment for patients with moderate to advanced glaucoma

CAMPBELL, Calif., June 26, 2023 — Myra Vision, a Shifamed portfolio company, announced today the closing of its $25M Series B financing. Led by Cormorant Asset Management, with significant participation from The Capital Partnership (TCP), the PA MedTech VC Fund and Shifamed angel investors, the funds will be used to further product development, scale manufacturing capabilities, and support first-in-human investigation of the company’s Calibreye^™ System, a novel treatment that aims to optimize reduction of intraocular pressure (IOP) for patients with moderate to advanced glaucoma.

“Glaucoma is increasingly challenging to manage, particularly as the condition progresses to moderate and advanced stages,” commented Bihua Chen, Founder and Chief Executive Officer at Cormorant Asset Management. “We are pleased to lead this round and believe Myra Vision’s controlled and personalized approach will deliver a much-needed surgical solution for this large and underserved segment of the glaucoma market.”

Glaucoma, a leading cause of blindness, affects an estimated 66M people worldwide.¹ More than one third of patients have moderate to advanced glaucoma, which requires significant reductions in IOP. Traditionally, these glaucoma patients have been treated with surgery, including trabeculectomy and tube shunt implants. Recent advances in less invasive surgical devices offer simpler and safer treatment options. While these devices have demonstrated an improvement in complication rates, achieving the IOP reductions necessary for the moderate to advanced glaucoma patient population remains challenging.

“The Calibreye System is designed to allow physicians to safely optimize aqueous outflow and effectively manage the evolving clinical needs of each patient,” stated Robert Chang, President and Chief Executive Officer of Myra Vision. “We are pleased to close this round of financing with strong continued support from our investors. The team has made tremendous progress and we look forward to the next step towards delivering this meaningful solution for glaucoma patients.”

About Myra Vision, Inc. 
Myra Vision, a privately held portfolio company of Shifamed LLC, is developing a novel technology that is designed to allow safe outflow control to achieve maximum reduction of intraocular pressure (IOP) while also reducing complexity and complication rates.  To learn more about Myra Vision, please visit www.myravision.com.

About Shifamed, LLC. 
Founded by serial entrepreneur Amr Salahieh, Shifamed LLC is a highly specialized medical innovation hub focused on developing solutions that accelerate time to market, reduce risk, increase impact, and forge a path toward a world where patients are able to lead longer, healthier lives. To learn more about Shifamed, please visit www.shifamed.com.

MEDIA CONTACT:
Katie Arnold
SPRIG Consulting LLC
+1 (408) 805-0520
[email protected]

¹Market Scope 2019.

SOURCE Myra Vision, Inc.

BOSTON, June 26, 2023 — SV Health Investors (“SVHI”), a Boston-based private investment firm focused exclusively on the healthcare industry, announced today an investment in Packaging Compliance Labs (“PCL”). Headquartered in Grand Rapids, MI, Packaging Compliance Labs is a provider of healthcare packaging engineering, validation testing, and contract packaging services to medical device and pharmaceutical end markets. PCL represents a new platform investment for SV Health Investors, in partnership with Co-Founders Matthew Lapham and Ryan Erickson.

Founded in 2014, Packaging Compliance Labs is a leading sterile packaging center of excellence, providing comprehensive healthcare packaging solutions aimed to accelerate medical device and pharmaceutical product launches. PCL’s extensive capabilities support customers in each step of packaging from the design phase to full-scale production.  

A.J. Rossi, Principal at SV Health Investors, who will join the PCL board of directors, stated, “PCL has developed an industry-leading reputation for white-glove technical testing services, while serving as a thought leader within the healthcare packaging industry. We look forward to partnering with PCL to support their continued growth through investment in rapidly expanding operations and strategic add-on acquisitions.” Matthew Lapham, President & CEO of Packaging Compliance Labs, added, “PCL is excited to accelerate our growth together with SV Health Investors. SV’s extensive industry experience and strong operational resources will be an asset to PCL as we continue to scale and provide timely, expert solutions to our clients.”

The investment in Packaging Compliance Labs aligns with SVHI’s model of partnering with founders and entrepreneurs to build industry-leading healthcare services businesses. Greg Madden, SVHI Managing Partner, and Thomas Patton, SVHI Operating Partner, will also join the board.

Morgan Lewis & Bockius LLP served as legal advisor to SV Health Investors and Honigman LLP served as legal advisor to Packaging Compliance Labs. 

About Packaging Compliance Labs

Packaging Compliance Labs (“PCL”) is an ISO 17025 accredited testing lab that provides packaging engineering and validation services, as well as ISO 13485 certified contract packaging to the medical device and pharmaceutical industries. PCL serves as a trusted packaging solutions partner, solving technical challenges and supporting customer needs from the design stage to full-scale manufacturing. The Company’s testing capabilities include sterile barrier integrity testing, transit & distribution simulation, accelerated & real time aging, environmental conditioning, and usability evaluations – all with the mission of ensuring the safety and efficacy of sterile medical devices. PCL maintains operations across the U.S., including accredited and certified testing and manufacturing facilities in Grand Rapids, MI, as well as sales and engineering offices in Boulder, CO.

About SV Health Investors

SV Health Investors (“SVHI”) is a private investment firm dedicated to investments in the healthcare and life sciences sector. Founded in 1993 with offices in Boston and London, SVHI manages over $2.5B across multiple investment strategies. SVHI’s dedicated healthcare growth fund – SV7 Growth Fund – seeks to partner with experienced management teams to accelerate the success of innovative healthcare companies across tech-enabled healthcare services, medical products, and digital health. SVHI combines decades of healthcare transaction and operating experience to drive long-term value creation and realize the triple aim of healthcare – higher quality care, accessible to more patients, at a lower cost. For more information, please visit www.svhealthinvestors.com.

FOR FURTHER INFORMATION CONTACT:   

A.J. Rossi – Principal ([email protected])
Brent Faduski – CFO, CCO ([email protected])
Tel: (617) 367-8100

Legal Disclaimer 
This press release is for informational purposes and is not an offer to sell, or a solicitation of an offer to buy, securities in the United States or elsewhere. SV Health Investors is not utilizing this release to provide investment or other advice, and no information disclosed therein is to be relied upon for the purpose of making investment decisions. Past performance does not guarantee future results and any transactions described are included as representative transactions and are not necessarily reflective of overall performance.

SOURCE SV Health Investors, LLC