Secondary investment in recognition of EDH’s leading market position, strong fundamentals, and world-class leadership team 

DALLAS, Dec. 19, 2023 — Employer Direct Healthcare (EDH), a leading specialty healthcare network solution, today announced a $92 million secondary investment from global software investor Insight Partners, bringing the company’s valuation to $1 billion. EDH’s existing institutional investors, Serent Capital, Redmile Group and Dundon Capital, will maintain their ownership interest in the business. 

EDH has quietly grown to become one of the largest participants in the specialty networks, centers of excellence, and bundled payments categories for employers who self-fund healthcare coverage for their employees. Currently, EDH serves hundreds of self-funded plan sponsors across 1000+ employers (including approximately two dozen Fortune 500 employers and three dozen public sector entities), representing over 4 million people across the U.S. The EDH network includes more than 3,000 surgeons and oncologists and over 500 facility partners, spanning 157 metropolitan regions across the country – all of whom have gone through a rigorous selection process designed by EDH’s medical advisory board.

Over the past 12 years, EDH has facilitated more than 43,000 surgical journeys, significantly reducing members’ financial burdens by an average of $4,000. While doing so, EDH has lowered overall healthcare costs for employer clients by a total of ~$700 million since inception and will reduce overall healthcare costs for clients by approximately 2% in 2023.

“For too many Americans – even those with insurance – the financial and logistical burdens of a cancer diagnosis or need for surgery can be earth shattering. Every day, EDH is serving people at their most vulnerable – guiding members to high-quality providers that are close to home, at little or no cost to them,” said John Zutter, CEO of EDH. “We’re grateful for Insight Partners’ significant vote of confidence as we continue to deliver excellent, affordable, and accessible specialty care for more communities. Further, this investment provides an attractive outcome for some of our earliest backers, including TEXO Ventures, while bringing Insight’s world-class capabilities to bear for the future of the business.” 

“EDH represents the next generation of value-driven healthcare, attacking the largest sources of spend for U.S. employers – surgery and cancer – with a laser focus on quality and cost for clients and their employees,” said Scott Barclay, Managing Director at Insight Partners. “EDH is a rare example of the right management team, the right model, and the right technology to truly change the outcomes and business of healthcare.” 

“Partnering with EDH has yielded very positive outcomes for our AutoZoners and they often share with us their wonderful experiences with SurgeryPlus,” said Matt Harmon, VP of Compensation, Benefits and HRIS, Customer Satisfaction at AutoZone. “EDH helps to ensure that we’re able to provide access to high-quality, affordable surgical care for our AutoZoners across the U.S..”

In the coming year, EDH will continue to build on market momentum and strong overall growth, including expansion of Cancer Care Direct, the industry’s first end-to-end oncology solution, and several key partnerships with national health plans, navigators, and other industry-leading employer solutions.

EDH is also pleased to announce a number of key executive hires who bring deep, differentiated experience across healthcare, benefits consulting, technology, and government, including Chief Growth Officer Jamie McLeod, who previously held senior roles at One Medical and Virgin Pulse; Chief Product Officer Jeremy Leventhal, who previously held senior product roles at Hinge Health and Springbuk; Chief Client Officer Lindsey Conon, previously SVP of Account Management at Progyny; Chief Marketing Officer Shelly Towns, previously CMO at Marathon Health; Head of Communications Amy Dudley who served in top communications roles for then-Vice President Joe Biden, U.S. Senator Tim Kaine and the Chan Zuckerberg Initiative; Nicki MacManus, GM of EDH’s oncology solution, who previously had executive leadership roles at CVS including GM of CVS Kidney Care; and Head of Channel Tim Kelly, who was previously Chief Commercial Officer at Carrot Fertility and President of National Accounts at Aetna, a CVS Company. Other recent hires include senior leaders from KindBody, WTW and WithMe Health.

About EDH
EDH is a market-leading healthcare services business providing high-quality and cost-efficient solutions for self-funded employers and their members. The company’s highly selective provider networks transform healthcare for its members, facilitating access to top-quality care at fair prices nationwide. 

EDH’s first product, SurgeryPlus^®, is the market-leading surgical benefit solution, providing full-service concierge and network services to millions of covered members across 1000+ employers. In 2022, the company launched a first of its kind, comprehensive end-to-end oncology solution, Cancer Care Direct^®. 

About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners. 

SOURCE Employer Direct Healthcare (EDH)

The visionary founder of a digital health startup introduced a revolutionary wearable technology to the Circle of Money, presenting investors with an exclusive opportunity to invest in this transformative venture.

Watch the Unicorn Hunters trailer here

Watch the episode here

NEW YORK, Dec. 19, 2023 — Unicorn Hunters, the groundbreaking series that connects entrepreneurs seeking funding with millions of potential investors worldwide and offers viewers the opportunity to invest in billion-dollar ideas in the pre-IPO stage, announced a brand new episode featuring Healables, a digital health start-up at the forefront of commercializing wearable, bioelectric, smart textiles for recovery and performance and developing AI-powered therapeutic technology designed to relieve pain, accelerate healing, and reduce inflammation without medication. The episode is now available for streaming on UnicornHunters.com, LinkedIn Broadcast, Facebook Video, and YouTube.

Healables Digital Health, Inc., headquartered in Miami was founded in 2022 by Moshe Lebowitz to commercialize technology he patented and developed.  Lebowitz is a visionary who believes in humanity’s positive trajectory and the shared responsibility to address prevailing health challenges. Uniquely blending his background in business and user-centric design with Hasidic meditation, craniosacral therapy, and Chinese medicine, Lebowitz has been developing and patenting personalized wearable technology since 2017 at the Healables R&D  Innovation Labs in Jerusalem, Israel.

“At Healables, our mission is to empower individuals to own and improve their physical, spiritual and mental well-being,” said Moshe Lebowitz, Founder and CEO of Healables. “It’s a privilege to spotlight our unique solutions on Unicorn Hunters and introduce our business to the Circle of Money and the millions of viewers actively seeking distinctive investment opportunities.”

The Unicorn Hunters show is produced by reality TV icon Craig Plestis (I Can See Your Voice, The Masked Singer) who is pioneering enrichtaniment – a brand new genre of television that combines entertainment with investment opportunities that can boost individual wealth.

“Healables is revolutionizing healthcare by prioritizing human well-being, alleviating pain, and championing wearable solutions for accelerated sports recovery and enhanced performance personalized with AI. This presents a remarkable opportunity for  investors to explore the latest technologies in the digital health, sports tech and biotech sectors, disrupting industries and shaping a healthier world through innovative solutions,” stated Alex Konanykhin, CEO of Unicorn Hunters.

In February 2022, Unicorn Hunters launched Unicoin, its official cryptocurrency, which is a next-generation coin designed to address the extreme volatility typical of early coins with little to no inherent value, which ultimately led to the market meltdown and subsequent crypto winter.

Backed by a diversified portfolio of assets that includes equity in high-growth companies, Unicoin has garnered the support of business luminaries, industry leaders, and policymakers. In the new episodes of Unicorn Hunters, founders who pitch the Circle of Money and obtain a yes from more than one panelist will receive Unicoins. Those who receive a commitment of investment from all the members of the Circle of Money will receive up to 10 million unicoins.

The Unicorn Hunters show can be streamed on multiple platforms including UnicornHunters.com, LinkedIn Broadcast, Facebook Video, YouTube, and Vimeo. Through global syndication agreements, Unicorn Hunters also streams on Claro Video, one of the largest streaming platforms in Latin America and on TV3 Network, one of the main broadcast networks in Ghana. Unicorn Hunters also premiered on in-flight entertainment on Tap Air Portugal, WestJet, and Etihad Airways, an international airline based in Abu Dhabi that services millions of passengers in the Middle East, Africa, Europe, Asia, Australia, and North America.

About Unicorn Hunters

Unicorn Hunters is a pioneering business show that democratizes access to funding, giving founders the possibility to raise expansion capital from millions of viewers around the world, and gives people the opportunity to invest in pre-IPO opportunities alongside business luminaries.

The Circle of Money is comprised of a star-studded cast of business leaders, policymakers, and investors who study the company’s potential and probe its founders with questions to evaluate the investment opportunity, while helping viewers at home decide if they want to invest along with them. The Circle of Money panelists in this episode are Rosie Rios, Former Treasurer of the United States, Chris Diamantopoulos, social entrepreneur and actor in HBO TV series Silicon Valley, Silvina Moschini, Founder, President and Chairwoman of Unicoin, Alex Konanykhin, CEO of Unicoin, Jason Felts, founder, entrepreneur, strategic brand advisor and former CEO of Virgin Produced and Virgin Fest, Danny Cortenraede, serial entrepreneur and investor, CEO and founder of InStudio Ventures, and Cris Carter, NFL legend and Hall of Famer.

Each episode will feature brand new special guests who have been meticulously selected based on their areas of expertise including Susan Segal, president and CEO of the Americas Society and Council of the Americas and pioneer of early stage venture capital, Jason Scott, venture investor, partner of ANIM Fund, and former Head of Startup Development Ecosystem at Google, and Laura Chinchilla, Former President of Costa Rica.

Media Contact:
Pilar Planells
+5491141711804
[email protected] 

SOURCE Unicorn Hunters

Claure Joins Agreement to Acquire Ownership Stake in Fund 1 from SoftBank Group

• Marcelo Claure to become Vice Chairman and General Partner alongside Dr. Paul Judge as Chairman and Managing Partner
• Claure joins Judge and affiliated entities in previously announced agreement to acquire an ownership stake in the $100 million Fund 1 of the Opportunity Fund from SoftBank Group
• Open Opportunity Fund is now raising Fund 2 to continue to back exceptional Black and Latino tech founders

NEW YORK, Dec. 19, 2023 — Open Opportunity Fund, a venture capital fund dedicated to funding Black- and Latino-founded technology companies, is announcing two significant advancements within the fund.

Marcelo Claure, a technology entrepreneur and investor, is returning to the Open Opportunity Fund as Vice Chairman and General Partner. In June 2020, SoftBank Group (“SoftBank”) launched the SB Opportunity Fund to invest in underrepresented founders. Claure was a founding member of the fund while he was CEO of SoftBank Group International. In less than three years, SoftBank successfully incubated the Opportunity Fund and deployed the initial $100 million into 75 Black- and Latino-led companies. Two of SoftBank Group’s core growth funds—Vision Fund 2 and the Latin America Fund—separately invested nearly $600 million in Opportunity Fund portfolio companies, for a total of nearly $700 million invested across SoftBank’s funds.

In addition, Claure joins Open Opportunity Fund Chairman, Paul Judge, in the previously announced agreement to acquire an ownership stake in the $100 million Opportunity Fund 1 portfolio from SoftBank. SoftBank remains committed to building a community of diverse founders and continues to support the fund as an investor in Fund 2. Open Opportunity Fund aims to double in size, raising Fund 2 to a $200 million fund open to LPs and other investors.

Claure is the founder & CEO of Claure Group, a multi-billion-dollar global investment firm. He is also Chairman and Managing Partner at growth equity firm Bicycle Capital as well as Group Vice Chairman of SHEIN.

After building his first business, Brightstar, into the world’s largest global wireless distribution and services company, Claure became CEO of Sprint. He later became CEO of SoftBank Group International, where he oversaw strategy alongside SoftBank CEO Masayoshi Son, and launched SoftBank’s $8 billion Latin America Fund.

Claure’s return to Open Opportunity Fund is part of a personal mission, shared with Judge, to provide equal opportunity for Black and Latino entrepreneurs like themselves – entrepreneurs who struggle to get access to capital to grow their businesses.

“As a Latino and Hispanic entrepreneur who was successful in growing businesses, I still had to fight harder to get funding,” said Open Opportunity Fund Vice Chairman and General Partner Marcelo Claure. “Paul fought those same battles as a Black entrepreneur. Together through the Open Opportunity Fund, we are investing back into our communities, ensuring that Black and Latino innovators have the capital they need to grow profitable businesses. We are grateful to SoftBank for investing in Black- and Latino-led companies through the initial fund, and we appreciate their commitment to Fund 2 as we build on that legacy.”

“I’m excited to work alongside Marcelo again. It is a full-circle moment to have him back as a partner. Beyond our work as investors and advisors, I believe our position as an independently-owned fund led by a Black American and a Bolivian immigrant is a powerful statement that I hope will inspire future leaders,” said Open Opportunity Fund Chairman Paul Judge.

“As the founding LP and an investor in Fund 2, SoftBank remains committed to building a community of diverse founders,” said Brett Rochkind, Managing Partner of SoftBank Investment Advisers. We believe that under Marcelo and Paul’s leadership, the Open Opportunity Fund is strongly positioned to enter its next chapter, and we look forward to our continued support of its important mission.”

Opportunity Fund 1 invested $100 million into 75 Black- and Latino-led tech companies, with a portfolio that includes Atomic, Brex, Career Karma, Cityblock Health, Eight Sleep, Esusu, Lendtable, Lumu, Mayvenn, Paystand, Praxis Labs, QuickNode, Squire, and Subject. The fund has had seven exits.

In 2022, Black and Latino founders received less than 3% of venture capital funding, despite comprising over 30% of the United States population. Research has consistently shown that diverse companies yield greater results, such as producing higher profits and exit multiples.

Open Opportunity Fund is now raising Fund 2 with the aim of continuing to deliver strong financial performance by backing Black and Latino tech founders. The fund is open to other corporations, institutions, qualified individuals, and other LPs who are committed to this cause.

For more information, visit http://TheOpportunityFund.com and follow @OpportunityFund on X (previously Twitter) and Instagram.

For media and interview requests, please contact
[email protected] 

About Open Opportunity Fund

Open Opportunity Fund is a technology venture capital fund focused on investing in and partnering with outstanding Black and Latino founders. Fund 1 was a $100 million fund with SoftBank as an LP. In 2023, the team led by Paul Judge and Marcelo Claure acquired the Fund from SoftBank and announced Fund 2 to continue to execute the thesis.

SOURCE Open Opportunity Fund

New cloud platform brings high-resolution micro-forecasting while dramatically reducing complexity, expense and time of actionable weather forecasts

SAN MATEO, Calif., Dec. 19, 2023 — Excarta, pioneers of commercializing AI for business-targeted weather forecasting, today announced that it has completed its seed round of investment to commercialize its AI-driven weather forecasting platform. The platform—already functional and “real world” proven—enables businesses to easily, quickly and inexpensively access or produce highly accurate, high-resolution weather forecasts for the parameters they care about. These AI-driven weather forecasts can dramatically enhance situational awareness for businesses that currently rely on conventional weather models.

“We are leveraging  breakthroughs in the use of AI for weather modeling that mirrors the impact of using large language models like GPT in other fields,” said Vivek Ramavajjala, founder and chief executive officer, Excarta. “We’re harnessing these cutting edge developments in AI to solve real business issues with speedy, actionable weather forecasts of higher accuracy than conventional forecasts.”

To gain greater efficiencies and resiliency while mitigating disasters, businesses can benefit from more precise weather intelligence, but traditional models may be limited in the amount of data they can analyze, and the resolution they can provide over an extended period. The current weather “data stack” is also difficult to engage with, hampered by data stored in hard-to-access formats and in different locations.

While conventional models typically offer hourly forecasts only for the first three to five days, Excarta exploits the lower cost and higher speed of AI models to provide hourly forecasts for up to 14 days. Excarta uses its AI models to produce ensemble forecasts to provide not just the most likely forecast, but estimate  the uncertainty in forecasts as well. Excarta is also able to extend the AI models to consume other types of data for better performance on specific tasks, such as forecasting solar irradiance or electrical load on the grid.

Rather than being limited to numerical analysis with physical models, Excarta learns how to emulate the same physics as conventional weather models, at a fraction of the time and cost and enables interaction to produce needed insights. Customers can use such models to cheaply produce tailor-made forecasts, or directly access the forecasts through Excarta’s platform without the need for weather expertise. Pilot customers are already using the Excarta cloud platform for business value, including:

• Energy (utilities and traders) – optimization of energy sources, better energy trading, load planning and safe operation of electrical grids
• AgTech – planning of operations, such as fertilizer spraying, increasing crop yield and reducing losses using pest prediction
• Supply chains – optimization of routes and resources, contingency planning, better delivery certainty and lower insurance claims from weather damage

“Excarta makes weather forecasts better, faster, and cheaper with AI, and enables businesses to improve operations, pricing, purchasing, and more with those forecasts via APIs”, said Anne Dwane, Co-founder & Partner at Village Global, the venture firm backed by Jeff Bezos, Bill Gates, and Reid Hoffman. “Excarta has moved AI weather forecasting from pure research into commercial applications with measurable ROI.”

Excarta’s founding team brings over 15 years of combined experience in AI and climate modeling from Google Research, DeepMind, and Xerox PARC, forming Excarta to use AI to make businesses more resilient to volatile weather. Excarta’s $2.5 million seed round was led by Village Global and joined by Ubiquity Ventures, Converge VC and angel investors. A $500,000 inception-stage SAFE round preceded the seed round. Funding has enabled the successful creation and validation of the Excarta platform.

About Excarta

Founded in 2022, Excarta was formed to commercialize the power of AI for business-targeted weather forecasting. Excarta enables businesses to easily, quickly and inexpensively produce highly accurate, high-resolution weather forecasts for the parameters they care about to gain greater efficiencies and resiliency while mitigating disasters. Excarta offers a cloud-based platform that can utilize unlimited amounts of weather data to study and forecast weather for geographies a fraction of traditional size with great accuracy and covering greater time spans. Learn more about Excarta or request a demo through the company website.

SOURCE Excarta

Backer has acquired the web’s premier 529 destination Saving For College to modernize 529s with fintech and AI

SAN FRANCISCO, Dec. 19, 2023 — Today Backer, the leading fintech company focused on tax-advantaged 529 Savings Plans, announced its $9.5M Series A round of financing and the acquisition of Saving For College (savingforcollege.com), the top 529-related media property and education savings resource that millions of American families rely on each year.

“From day one, our mission has been to use technology to help the 529 industry reach a younger generation of parents,” said Jordan Lee, Backer’s founder and CEO. “As we enter a new era of AI-powered tech, we see an exciting opportunity to combine the industry’s highest-traffic web destination with the industry’s top product team to modernize the way American families discover, enroll in, and engage with 529 plans.”

529s have existed as a powerful college savings tool for decades, growing to over $450 billion in assets across 16 million accounts. In recent years, Congress has expanded their use to cover K-12 private school tuition, apprenticeship programs, and student loan debt. Most recently, Congress made it possible to transfer some unused 529 savings into a Roth IRA. Since its founding in 1999, Saving For College has been the top 529 information resource used by tens of millions of Americans to navigate an intimidating landscape of 529 plan options and make the right choice for their family.

Backer has earned a reputation for innovation within the 529 industry. Since its debut in 2017, the Backer consumer savings app has helped more than 200,000 parents and kids save a projected $250 million for education, with 40% of the savings coming from family and friends. Backer’s high-conversion enrollment process, consumer-grade gifting platform, and first-of-its-kind mobile app have made it an important technology partner for the country’s many 529 programs.

Backer’s venture round was led by WndrCo, a team of Silicon Valley builders and operators founded by early Dropbox executive Sujay Jaswa and Hollywood legend Jeffrey Katzenberg. “We are thrilled to partner with Backer to transform how families across America save for college. We believe high-quality educational content and intuitive consumer experiences are the keys to improving financial literacy,” said WndrCo General Partner ChenLi Wang.

“For decades, Saving For College has been an indispensable resource for American families and the many finance professionals working at the state level to grow 529 adoption,” said Lee. “We are honored to partner with the domain experts at Saving For College to ensure that 529s will continue to meet the needs of generations to come.”

About Backer
Backer is the leading fintech company focused on 529 plans. It makes saving for education simple, helping ordinary families tap into tax-free investing with support from family and friends. Backer is headquartered in San Francisco, CA. Visit backer.com or follow @backer529 to learn more.

About Saving For College
For over 20 years, Saving For College has been the premier education savings destination for parents and financial professionals, providing them with information and tools to understand the benefits of 529 Savings Plans and how to meet the challenge of rising college costs. Visit savingforcollege.com or follow @saving4college to learn more.

About WndrCo
WndrCo is a multi-stage technology investment firm that builds companies and makes venture capital and seed investments. Founded in 2016 by Jeffrey Katzenberg and Sujay Jaswa, WndrCo’s team is based in San Francisco and New York. Visit wndrco.com to learn more.

Media Contact:
[email protected]
(844) SAVE-529

SOURCE Backer

PHOENIX, Dec. 19, 2023 — Trinity Capital Inc. (NASDAQ: TRIN) (“Trinity”), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $40 million in term loans to Taysha Gene Therapies, Inc. (NASDAQ: TSHA) (“Taysha”), a clinical-stage gene therapy company, pursuant to a Loan and Security Agreement dated November 13, 2023, by and among Taysha, the lenders party thereto from time to time (the “Lenders”), and Trinity, as administrative agent and collateral agent for the Lenders.

Taysha is focused on developing and commercializing AAV-based gene therapies for the treatment of monogenic diseases of the central nervous system (“CNS”). Its lead clinical program TSHA-102 is in evaluation for Rett syndrome, a rare neurodevelopmental disorder with no approved disease-modifying therapies that treat the root cause of the disease. The Company’s management team has proven experience in gene therapy development and commercialization. Taysha leverages this experience, its manufacturing process and its intrathecal delivery in combination with a clinically and commercially proven AAV9 capsid, in an effort to translate treatments from bench to bedside.

“We are excited to partner with Taysha as it advances its lead gene therapy program in clinical evaluation for Rett syndrome, and believe Taysha has the potential to achieve significant advancements in the gene therapy field,” said Igor DaCruz, Managing Director, Life Sciences at Trinity. “We look forward to working together with their management team as Taysha focuses on bringing novel treatments with disease-modifying potential for diseases, like Rett syndrome, with high unmet need.”

With the term loan, Taysha believes it will be able to fund its operating expenses and capital requirements into 2026 to support the clinical development of its TSHA-102 program in Rett syndrome.

“We are highly encouraged by the support from Trinity, which we believe further reinforces Taysha’s vision to transform the lives of patients suffering from devastating diseases through the development of AAV-based gene therapies,” said Kamran Alam, Chief Financial Officer of Taysha. “With Trinity’s support, we believe we are well-positioned to continue to execute across our near-term milestones for our TSHA-102 program in Rett syndrome.”

About Trinity Capital Inc.

Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital’s investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company’s website at www.trinitycap.com.

About Taysha Gene Therapies

Taysha Gene Therapies (Nasdaq: TSHA) is on a mission to eradicate monogenic CNS disease. With a singular focus on developing curative medicines, we aim to rapidly translate our treatments from bench to bedside. We have combined our team’s proven experience in gene therapy drug development and commercialization with the world-class UT Southwestern Gene Therapy Program. Together, we leverage our fully integrated platform with a goal of dramatically improving patients’ lives. More information is available at www.tayshagtx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “expects,” “intends,” “projects,” “plans,” and “future” or similar expressions are intended to identify forward-looking statements. Forward-looking statements include statements concerning: Taysha’s ability to fund its operating expenses and capital requirements into 2026, the potential benefits of TSHA-102 and Taysha’s other preclinical product candidates, the potential for Taysha to achieve significant advancements in the gene therapy field and Taysha’s ability to execute across its near-term milestones. Forward-looking statements are based on current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding Taysha’s business are described in detail in its Securities and Exchange Commission (“SEC”) filings, including in its Annual Report on Form 10-K for the full-year ended December 31, 2022, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, both of which are available on the SEC’s website at www.sec.gov. Additional information will be made available in other filings that Taysha makes from time to time with the SEC. Such risks may be amplified by the impacts of the COVID-19 pandemic. These forward-looking statements speak only as of the date hereof, and Taysha and Trinity disclaim any obligation to update these statements except as may be required by law.

SOURCE Trinity Capital Inc.

• The EIC has tapped FGen and partners to work on developing a sustainable, alternative approach to milk production using only CO₂ and electricity
• FGen will focus on ultra-high throughput screening of bacteria engineered to convert CO₂ into a major whey protein
• Utilizing microbial systems — instead of livestock — to produce valuable food ingredients will be critical for sustainable bioproduction of foods, medicines, and chemicals

BASEL, Switzerland, Dec. 19, 2023 — FGen AG, a subsidiary of Ginkgo Bioworks (NYSE: DNA), based in Switzerland, has been awarded funding through the European Innovation Council’s (EIC) Pathfinder Challenge program. This is part of an international research consortium that aims to develop a new, sustainable approach to milk protein production using only carbon dioxide and electricity. The consortium, led by Finnish food tech innovator, Solar Foods, and also including leading researchers from the University of Groningen and RWTH Aachen University, was selected from more than 440 proposing teams for their four-year, €5.5M “high-risk/high reward” project playfully named HYDROCOW.

Converting CO₂ directly into valuable proteins

The HYDROCOW team will work to genetically engineer hydrogen oxidizing bacteria (HOB) to convert carbon from CO₂ gas and nitrogen from N2 into beta-lactoglobulin, a major whey protein found in cow’s milk. Beta-lactoglobulin is used in food applications such as infant formula, protein supplements, and baked goods. Microbial systems that can produce valuable food ingredients and other products directly from CO₂ will be critical for sustainable bioproduction of foods, medicines, and chemicals.

Leveraging FGen’s powerful screening technology

Engineered microbes capable of producing beta-lactoglobulin will undergo ultra-high throughput testing at FGen, leveraging its cutting-edge platform that makes it possible to rapidly search through up to 1 million HOB variants in a single run. The highest performing HOB strains identified by FGen will then be validated by Solar Foods under autotrophic growth conditions in an industrially-relevant bioproduction environment. 

“We built our platform to help innovative companies like Solar Foods enable sustainable nutrition solutions, including alternative dairy. We’re excited to leverage our powerful screening technology through FGen, and to play a critical role in this space for our commercial and government partners around the world,” says Dr. Andreas Meyer, Senior Foundry Lead at Ginkgo Bioworks and co-founder of FGen. “This project is built around a world-class team of research and development partners, and we’re proud to do our part to bring this promising technology forward.”

“The EIC supports the HYDROCOW project in its pursuit to develop sustainable bioproduction methods directly from CO₂ and nitrogen compounds,” said EIC Project Officer Olivier Dahon. “EIC is supporting scientific innovation through our portfolio approach for funding research projects under the Pathfinder Challenge: ‘Carbon Dioxide and Nitrogen Management and Valorisation.’ Bringing precision fermentation for sustainable food ingredients from the lab to the market is considered critical for the achievement of the EU Green Deal. Success in this area can provide the technological basis to contribute to a sustainable development of our society,” said EIC Program Manager Francesco Matteucci.

If successful, the HYDROCOW project will enable novel nutrition-focused bioproduction methods that are not reliant on photosynthesis and conventional agriculture, instead converting atmospheric carbon directly into whey proteins, while saving time, energy, and land associated with current practices in the process.

About Ginkgo Bioworks
Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo’s biosecurity and public health unit, Concentric by Ginkgo, is building global infrastructure for biosecurity to empower governments, communities, and public health leaders to prevent, detect and respond to a wide variety of biological threats. For more information, visit ginkgobioworks.com and concentricbyginkgo.com, read our blog, or follow us on social media channels such as X (formerly known as Twitter) (@Ginkgo and @ConcentricByGBW), Instagram (@GinkgoBioworks and @ConcentricByGinkgo), Threads (@GinkgoBioworks) or LinkedIn.

Funding for FGen AG is provided by the Swiss State Secretariat for Education, Research and Innovation (SBFI Nr. 23.00349).

Forward-Looking Statements of Ginkgo Bioworks
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the capabilities and potential success of the partnership and Ginkgo’s cell programming platform. These forward-looking statements generally are identified by the words “believe,” “can,” “project,” “potential,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) volatility in the price of Ginkgo’s securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance across competitors, and changes in laws and regulations affecting Ginkgo’s business, (ii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, (iii) the risk of downturns in demand for products using synthetic biology, (iv) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (v) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vi) our ability to realize the expected benefits of merger and acquisition transactions, (vii) the outcome of any legal proceedings against Ginkgo, including as a result of recent acquisitions, (viii) our ability to realize the expected benefits from and the success of our Foundry platform programs, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, and (x) the product development or commercialization success of our customers. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Ginkgo’s quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 8, 2023 and other documents filed by Ginkgo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ginkgo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ginkgo does not give any assurance that it will achieve its expectations.

GINKGO BIOWORKS INVESTOR CONTACT:
[email protected] 

GINKGO BIOWORKS MEDIA CONTACT:
[email protected] 

SOURCE Ginkgo Bioworks

HOUSTON, Dec. 18, 2023 — Genesis Park, through its investment fund, GP Capital Partners, LP, is pleased to announce its recent investment in Conditioned Air Company (“Conditioned Air” or the “Company”) to support Conditioned Air’s addition of A/C Designs of St Augustine (“A/C Designs”) to its platform. The companies’ combined operations cover some of the fastest growing areas of Florida, with the combined enterprise representing one of the largest organizations focused on residential HVAC service in Florida. Genesis Park provided a debt and equity investment alongside Gemini Investors and Cambridge Savings Bank, company management, and other investors to support the transaction.

A/C Designs, based in Jacksonville, FL and founded in 2002, is one of the leading residential HVAC service and new construction service providers in Northeast Florida. A/C Designs and Conditioned Air have similar business strategies and aligned values. Leveraging the strengths and market presence of both organizations positions the combined entity to provide enhanced residential home services in Florida and to continue the positive growth trajectory.

Gina Luna, Managing Partner of Genesis Park said, “The combination of Conditioned Air and A/C Designs creates one of the largest residential HVAC service businesses in Florida. Through the delivery of exceptional service to their customers, both companies have strong reputations and recognizable brands in their respective markets. We are thrilled to partner with an experienced management team and investor group to support the Company through the next phase of growth.”

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 $3 million of EBITDA, with proven business models and seasoned management teams. Managed by three 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 Conditioned Air Company
Conditioned Air, founded in 1962 and based in Naples, FL, has grown to become the largest HVAC service provider for service, maintenance, repair, replacement and new construction installations in Southwest Florida. The Company provides regular service, repair and replacement services as well as new construction design and installation for both custom home and production home builders. For more information, visit www.conditionedair.com.

SOURCE Genesis Park

New funds to fortify US market entry and growth strategy, as well as advance breakthrough research

CAMBRIDGE, Mass., Dec. 18, 2023 — Biorithm, a global women’s health medtech, has closed $3.5 million in Series A funding, co-led by Adaptive Capital Partners and SEEDS Capital. With a homegrown spirit and a global vision, Biorithm is dedicated to developing cutting-edge solutions for personalized connected maternity care. The funding will fuel Biorithm’s expansion in Southeast Asia and the United States. It also will assist the company in advancing Femom, a comprehensive obstetric remote monitoring solution, and completing clinical studies to support a 510(K) premarket submission to the US Food and Drug Administration. 

Complications from childbirth result in mortality for 800 women every day. Biorithm is committed to ending preventable pregnancy complications by pioneering new standards of care through protocol-based remote monitoring of maternal and fetal biometrics. Biorithm’s Femom is patient-friendly technology that facilitates patient monitoring, accessible personalized guidance, and seamless integration of predictive analytics that help clinicians to identify early signs of complication.

Julian Robinson, Chairman of Biorithm Medical Advisory Board, highlighted the significance of this technology, that will offer enhanced accessibility and improved healthcare outcomes. He further emphasized, “Biorithm will enhance care, minimize inconvenience, and reduce cost for patients and improve the efficiency and effectiveness of the clinical health care provider. Above all, it will improve medical outcomes for mothers and their babies.”

With headquarters in Singapore and Massachusetts, Biorithm aims to strengthen the women’s health ecosystem globally. Amrish Nair, Founder and CEO, expressed gratitude for investor support, envisioning a future where every expectant mother has proactive and connected healthcare. The funding from new investor Adaptive Capital Partners and existing investor SEEDS Capital reaffirms their recognition of Biorithm’s pivotal role in reshaping women’s healthcare through innovative technology.

“We are truly heartened to have the support of our new and existing investors. We feel a deep commitment to improving the health of expectant mothers and putting an end to preventable complications. There is a collapse of maternal care driven by socio-economic factors and limitation of current monitoring technologies in many regions across the world, and we are hard at work to solve this problem in partnership with others. The investment we have received is a testament to our mission at Biorithm, and a future where every expectant mother has access to healthcare that is not only proactive but profoundly connected to her unique journey,” Amrish Nair, Founder and CEO, Biorithm.

Having successfully completed clinical trials with healthcare institutions in Singapore and the United Kingdom, Biorithm will be expanding its clinical trial footprint to more priority markets. Biorithm is also channeling its incoming funding into further research that demonstrates how remote care can be most effectively deployed. In its aim to strengthen the overall women’s health ecosystem, Biorithm will chart out and foster key partnerships with various stakeholders globally to improve maternal and baby health through data, personalized and accessible care.

“Building a system of connected medical care is crucial to help clinicians predict, diagnose, and formulate calculated decisions on early intervention to prevent complications and devise treatments. We are excited with our investment into Biorithm as the company is focused on creating measurable and actionable value in maternal health, integrating this system across all touchpoints to ensure safety throughout the pregnancy journey,” said Shi Ying, Founder & Managing Partner, Adaptive Capital Partners

Tan Kaixin, General Manager, SEEDS Capital added, “By leveraging technology to enable remote monitoring, Biorithm’s offering provides enhanced access to quality care for expectant mothers. We are excited to continue backing Biorithm as they accelerate their commercialization in the US and support their vision of revolutionizing the global maternal health market. Investments in MedTech startups like Biorithm will propel the healthcare ecosystem to new heights.”

About Biorithm

Biorithm envisions a world with better access to maternal care and improved outcomes for mother and child. To achieve this, Biorithm has developed a remote maternal-fetal care platform with novel intellectual property in device and algorithms. Having grown from academia, Biorithm is now present globally, working with clinical partners to deliver better care for mothers and babies. For more information, visit https://www.bio-rithm.com

About SEEDS Capital

 As the investment arm of Enterprise Singapore, SEEDS Capital catalyses smart investments into innovative Singapore-based early-stage startups with strong intellectual content and global market potential. We adopt a co-investment model, working hand in hand with institutional investors from around the world. Leveraging our collective expertise and networks, we help startups commercialise, realise their business development plans, and expand globally. We focus our investments into emerging and strategic sectors aligned with national priorities, including Manufacturing, Trade & Connectivity, Human Health & Potential, Urban Solutions & Sustainability, and Smart Nation & Digital Economy.

About Adaptive Capital Partners

Adaptive Capital Partners is a Singapore based, early-stage technology focused venture capital firm. Adaptive invests in high conviction and disruptive technology startups with a predominant focus in HealthTech and MedTech while working with founders in many of their defining challenges with the team’s deep experience as an operator and research background.

SOURCE Biorithm