SHANGHAI, Feb. 25, 2024 — China’s leading venture capital firm Qiming Venture Partners announced its recent signing of the United Nations-supported Principles for Responsible Investment (PRI). By signing the PRI, Qiming has joined an international network of over 5,000 signatories that share a mission to shape a global sustainable financial system that ensures growth for investors, enterprises, environment, and the wider society.

“The signing is a testimony to our commitment to Environmental, Social, and Governance (ESG) values as we practice responsible investment,” said Duane Kuang, Founding Managing Partner of Qiming Venture Partners. “PRI provides us with a robust framework that integrates sustainability and ethical considerations into our investment and decision-making process. It strengthens our mission of promoting sustainable growth and creating positive social impact.”

Benefiting from PRI’s extensive array of investor tools, guidelines, case studies, collaborative engagement opportunities among others, Qiming plans to further advance its ESG approach, design and implement various initiatives, and submit annual reporting on activities and progress to PRI.

Qiming continues to demonstrate commitment to ESG principles and corporate social responsibility through meaningful actions. Within two primary sectors of investment – Technology & Consumer and Healthcare, Qiming proactively seeks investments in businesses that uphold and implement ESG values. This has led to the support for numerous efficient, energy-conscious, and eco-friendly companies, spanning new energy automotive ecosystems, automated machinery, and robotics. In healthcare investment, Qiming is focused on addressing unmet needs for global patients.

Since its establishment, Qiming has prioritized fostering female leadership within the organization and portfolio companies, driving gender equality in employment opportunities and career development. In recent years, Qiming has also initiated programs including the Charity Month and Employee Charity Leave, encouraging employees to engage with the community and contribute to public welfare by organizing and participating charitable activities on their own initiative, contributing to Qiming’s ongoing ESG endeavors.

In December 2021, Qiming joined forces with China Rural Development Foundation to launch the “China Rural Revitalization Entrepreneur Support Program”, under which Qiming commits to contribute RMB100 million in 10 years to fund initiatives aiming at training and empowering 2,000 rural entrepreneurs, fostering 40 social organizations across 40 counties to inspire rural development. The program has successfully empowered 683 entrepreneurs by the end of 2023, of which 20 entrepreneurs received seed funding, and it fostered 11 county-level social organizations across underdeveloped provinces such as Yunnan and Guizhou.

About Qiming Venture Partners

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong in China, and Singapore.

Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status.

Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi (SEHK:1810), Meituan (SEHK:3690), Bilibili (NASDAQ:BILI, SEHK:9626), Zhihu (NYSE:ZH, SEHK:2390), Roborock (SHSE:688169), Gan & Lee Pharmaceuticals (SHSE:603087), Tigermed (SZSE:300347, SEHK:3347), Zai Lab (NASDAQ:ZLAB, SEHK:9688), CanSino Biologics (SEHK:6185, SHSE:688185), Schrödinger(NASDAQ:SDGR), APT Medical (SHSE:688617), New Horizon Health (SEHK:6606), Sanyou Medical (SHSE:688085), AmoyDx (SZSE:300685), Berry Genomics (SZSE:000710), SinocellTech (SHSE:688520), UBTech (SEHK:9880), Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology, among many others.

SOURCE Qiming Venture Partners

SAN DIEGO, Feb. 22, 2024 — ISHI Health, an AI-powered virtual clinic specializing in heart failure and complex cardiac disease care, has secured $4 million in a recent funding round led by Takeda Digital Ventures (TDV). This strategic investment will propel ISHI in expanding its product range, entering new markets, and demonstrating exceptional clinical outcomes and patient experiences.

Cardiovascular disease remains the leading cause of death and disability in the United States and worldwide, consuming 1 in every 6 healthcare dollars. The prevalence of heart failure syndrome is significant, impacting over 6 million people in the United States and 64 million globally, earning it the designation of an epidemic. Compounded by a growing and aging population, the number of heart failure patients is on the rise, further exacerbated by a static number of healthcare providers.

While many existing solutions rely on traditional remote monitoring for disease management, ISHI Health sets itself apart with its innovative, proprietary AI-driven approach. Through a collaboration with Mayo Clinic, ISHI provides precision care to heart failure and cardiometabolic patients. The virtual care program utilizes a platform that analyzes patients’ biometric data, gathered from various external and implanted cardiac sensors, across the entire cardiac risk spectrum. This allows ISHI to tailor care to each patient’s unique heart disease profile, biometric data, and symptoms.

At the core of ISHI’s strategy lies a collaborative partnership with patients’ primary cardiologist, enabling care teams to deliver quality heart failure care locally in their community. ISHI’s turnkey, bolt-on model facilitates a complimentary care model, providing swift access to top-tier heart failure specialist care. This approach underscores ISHI’s commitment to aligning with the interests of providers, value-based care entities and payors, ensuring high-quality, proactive care for patients. ISHI is currently operational with provider groups in California with more markets to be announced soon.

Dr. Ajay Srivastava, an Advanced Heart Failure cardiologist and founder of ISHI Health, underscores the company’s dedication to revolutionizing cardiac care delivery with a patient-first approach: “Our journey began with a commitment to understand and address pain points in cardiac care, starting with heart failure patients. Through the integration of technology and AI, we’re able to provide patients with unprecedented convenience and proactive care, ensuring better outcomes and enhanced patient experiences.”

ISHI surpasses traditional care approaches by offering proactive recommendations customized to each patient’s needs. These recommendations may include personalized medication adjustments and empowerment strategies delivered via SMS, such as educational resources and medication reminders. A dedicated Heart Failure care team promptly intervenes if patient data indicates rising risk, collaborating closely with the primary clinical team. ISHI’s holistic approach optimizes patient outcomes by coordinating care among various healthcare team members, ensuring comprehensive support throughout the patient journey.

ISHI’s commitment to providing high-quality heart failure care in rural and suburban areas has been recognized with the prestigious AWS Health Equity award, a non-dilutive funding grant. This accolade highlights ISHI’s dedication to addressing healthcare disparities and delivering exceptional care to underserved communities outside urban centers.

“At TDV, we are dedicated to identifying advanced capabilities that improve patient outcomes and experience. ISHI stands out by integrating AI, virtual and remote functionalities, offering an innovative hybrid care solution with the potential to benefit a broad spectrum of patients, extending even beyond heart failure into cardiometabolic conditions that commonly co-exist in this patient population,” said Suzie Yoon, Investor at TDV. “We are thrilled to be part of this journey, bringing our expertise in virtual-first care and valuable resources to contribute to advancing ISHI’s mission to transform cardiac care.”

With the recent funding secured, ISHI is positioned to elevate its capabilities. Over the next year, the company aims to expand its clinical operations, forge partnerships with more provider groups, and enter new markets. ISHI is committed to showcasing superior clinical outcomes and patient experiences, while also collaborating with payors on value-based care initiatives tailored for Heart Failure and the complex cardiac patient population.

About ISHI Health:
ISHI Health is an AI-driven virtual clinic that focuses on heart failure and complex cardiac disease care. By integrating connected devices, AI algorithms, and a specialized care team, ISHI provides expert, convenient, and cost-effective heart failure care. We aim to improve health outcomes, enhance patient experience, and collaborate with the patients’ care teams.

For more information, please visit www.ishi.health.

About TDV:
TDV is the digital health venture arm of Takeda, a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, guided by our commitment to patients, our people and the planet. Takeda Digital Ventures invests in companies that are using digital technology to improve outcomes and experiences throughout the patient journey. We only invest in companies that take our patient first approach and mirror Takeda’s values.

For more information, please visit https://takeda.info/tdv.

Media Inquiries:
[email protected]

SOURCE ISHI Health, Inc.

LOS ANGELES, Feb. 22, 2024 — Healthly, a company that prioritizes primary care, support services, and preventative medicine, announced today it has received funding from Corbel Capital Partners to introduce more physicians to a revolutionary primary care business model that can improve patient health outcomes by reducing the number of hospitalizations due to avoidable, advanced chronic diseases.

According to the American Medical Association, Medicare physician pay declined 20 percent from 2001 to 2021, or by 1.1% per year on average. Healthly’s financing will empower more physicians in California to offer “well care” versus “sick care” services that meet growing demand for high-quality, personalized preventative care.

“Corbel Capital Partners is the right investor to accelerate Healthly’s growth. We are aligned in our mission to improve communities by providing physicians with new tools, training and support, as well as a profit-sharing model to incentivize treating diseases before they progress,” said Ben Quirk, Founder and CEO of Healthly.

Healthly will also leverage this financing for strategic acquisitions, partnerships, and promoting solutions that support physician work-life balance, health equity and education.

“Healthly’s innovative business model addresses a pressing need within our healthcare system; rethinking the way physicians deliver preventative care while enhancing the quality of life,” said Brian Yoon, Managing Director at Corbel Capital Partners. “We believe in Healthly’s ability to enter future markets, making a substantial impact by expanding the footprint of providers focused on proactive and preventative care in California.”

About Healthly
At Healthly, our mission is to revolutionize healthcare by empowering doctors to devote more time and attention to their patients, ensuring that each individual receives the comprehensive care they deserve. We are committed to developing innovative solutions that streamline administrative tasks and promote efficient medical practices, ultimately fostering a nurturing environment for optimal patient well-being and satisfaction. Together, we strive to build a brighter, healthier future for all. For more information, visit www.healthlymedical.com.

About Corbel Capital Partners
Corbel Capital Partners is a Los Angeles-based independent investment firm that makes creatively tailored structured debt or equity investments in lower-market businesses and partners with management to create value. Corbel Capital Partners manages approximately $1 billion of institutional capital across multiple funds on behalf of its network of investors. Visit www.corbelcap.com for more information.

SOURCE Healthly

Buildstock is building the future of construction – faster, more transparent and powered by innovation.

NEW YORK, Feb. 22, 2024 — Buildstock, the B2B marketplace and fintech platform for construction materials, secures $1.6M in pre-seed funding from Precursor, MGV, XFactor, RefashionD and visionary angels, including Osuke Honda (DCM), Nihal Mehta (Eniac), Shruti Gandhi (Array Ventures), Tom Peterson (Rally Ventures), Yun-Fang Juan, and Mark G (m]x[v Capital). The platform empowers builders and suppliers by streamlining sales and procurement, driving savings of money and time. This funding enables Buildstock to scale, expand third-party FinTech, AI and logistics integrations and bring more participants into the marketplace.

Late payments cost the $1.4 trillion construction materials industry over $208B in 2022, up 53% from 2021. Buildstock’s marketplace and Fintech solutions solve this by creating unprecedented procurement efficiency. With Buildstock, builders enjoy AI-driven product discovery, as well as substantial cost savings—as high as 40%—on materials and 5x faster lead times. Additionally, they get transparency into lead times and tracking information to plan around deliveries of supplies. Buildstock even offers a feature that takes blueprint files and uses AI to generate a list of needed supplies, further streamlining the procurement process.

“Buildstock is spearheading a digital revolution in the construction sector, breaking through the old, fragmented, and relationship-dependent procurement models with a modern, user-friendly digital marketplace and flexible financing options,” said Jim Barrett, Chief Innovation Officer at Turner Construction. “The construction industry stands at the cusp of a significant transformation, with the supply chain procurement process ripe for disruption. We need innovative solutions like Buildstock to streamline material sourcing, offer cost efficiencies, and also inject unprecedented transparency into project management through real time life-cycle tracking of materials procurement from order to delivery.”

For suppliers, Buildstock offers fast, predictable payments, instead of the standard 90 to 120 days that suppliers normally wait to get paid (if they get paid the full amount). Buildstock uses factoring and pays suppliers within 5 days of delivery. This is part of their cash flow innovation in the industry, which significantly improves their suppliers’ unit economics, manufacturing capacities, overhead and insurances.

“The construction industry is ripe for innovation and is one of the last industries to adopt technology. As a builder of $1B+ high-rise projects, I know what matters: time and money. Buildstock isn’t another complex software pitch; it’s a promise,” said Kathryn Thiele AIA, Founder and CEO of Buildstock. “Buildstock is about completing projects faster, more cost-effectively, with unprecedented transparency. This is how technology reshapes the industry.”

Buildstock has quickly gained traction in the New York tri-state area, handling multiple orders daily, and is poised for expansion across the United States. A certified minority & women-owned business (M/WBE), it’s positioned to be a key player as New York is required to allocate $60 billion of contracts to M/WBE enterprises for public projects including airports, housing and infrastructure. The largest private builders, including AECOM/Tishman, Turner Construction, Hunter Roberts, and Holt, also have ambitious goals to make a quarter or more of their contracts be with M/WBE businesses.

“Digital disruption has been the story of our generation and construction is one of the last holdouts for this type of innovation. There are enormous efficiencies to be unlocked in the massive construction industry and Buildstock is at the forefront of bringing these to life,” said Charles Hudson, Founder & Managing Partner at Precursor Ventures. “We’re extremely proud of the team at Buildstock for the value they’ve been able to bring to market.”

Construction is ramping up everywhere and there is a need for both construction companies and suppliers to have a centralized marketplace. For builders, Buildstock offers a quick and convenient way to find the local and national suppliers that can help them save big on materials, streamline procurement, easily manage orders and save time to complete projects faster. On the supplier side, Buildstock offers increased product visibility and order flow, better payment terms and inventory management.

About Buildstock

Buildstock is the centralized marketplace that brings discovery, transparency and payments to the construction materials industry. Using Buildstock, buyers can compare vendors, get clarity on pricing and lead times and finance payments instantly. Materials suppliers get increased volume and industry-leading payment timelines. Instead of waiting 30, 60 or even 90 days, suppliers can receive payments in as little as 5 days. Using Buildstock, builders save time and money on materials, and suppliers get more business and paid faster. To learn more about what Buildstock can do, visit www.buildstock.com.

Press Contact
Mike West
[email protected]
(415) 689-8574

SOURCE Buildstock

NEW YORK, Feb. 22, 2024 — LO3 Capital, a private investment firm providing transformative capital to lower-middle market companies, announced today a debt and equity investment in Diamond Builders, Inc. (“DBI”) alongside private equity firm Tamarix Equity Partners, a trusted partner to family and founder-owned businesses across North America.

DBI manufactures prefabricated modular buildings that serve a variety of government and commercial end markets, including education, industrial, natural disaster relief, healthcare, and military. Founded in 2002 in Douglas, GA, DBI has developed a reputation for quality and reliability over its 20+ year operating history.

Modular buildings have seen steady adoption over the last two decades as their suitability to various end markets and myriad benefits versus traditional construction have been increasingly recognized. DBI’s wide array of high-quality and customizable modular structures provide long and short-term solutions to a diverse set of end users with a fast, cost-efficient, environmentally friendly, and reliable product.

“Diamond Builders has carved a fantastic position within the growing modular segment. We look forward to working with DBI and its founding family to build upon this stellar foundation and to continue delivering industry leading solutions” said Mark Hauser, Managing Partner at Tamarix.

Wesley Roberts, Partner at LO3 Capital, said, “DBI provides a first-class product to their customers. We are excited to partner with Tamarix and DBI during this next phase of growth.”

About LO3 Capital
LO3 Capital is a minority owned private investment firm committed to helping lower-middle market companies grow. The firm has offices in Nashville, New York and Dallas and targets business with over $3 million of EBITDA across a variety of industries. LO3 Capital partners with management teams, business owners, and private equity firms to finance organic growth, acquisitions, recapitalizations, and ownership transitions. LO3 Capital was previously a division of Live Oak Growth Capital and continues to manage the Live Oak Growth Capital funds. For more information, please visit lo3capital.com.

About Tamarix Equity Partners
Tamarix Equity Partners, a middle market private equity firm based in New York City, invests in founder and family-owned companies at an inflection point in their growth, providing capital, resources and expertise to support long term, sustainable returns for all stakeholders. For more information, please visit tamarixequity.com

SOURCE LO3 Capital LLC

Second Venture Vanguard Class to be Honored on May 2 at 2024 NVCA Leadership Gala

WASHINGTON, Feb. 22, 2024 — The National Venture Capital Association (NVCA) is thrilled to unveil the prestigious 2024 Venture Vanguard class. Recognized for their exceptional contributions to the venture ecosystem, these individuals have fueled innovation, transformed industries, and driven economic growth across America.

The Venture Vanguard Award, initiated by the NVCA board of directors last year in celebration of the association’s 50th anniversary, recognizes exceptional individuals, including distinguished board alumni, members, or friends of NVCA, who have made significant contributions to transforming the VC landscape and turbocharging America’s growth and success. Eligible candidates’ accomplishments may include building successful VC firms and portfolio companies to support the creation of new industries and transform existing ones, investing in life-changing technologies, elevating industry visibility to policymakers, exhibiting leadership through philanthropic activities, or committing time and resources to NVCA efforts that benefit the entire industry.

This year’s honorees exemplify the spirit of entrepreneurship, leadership, and philanthropy, embodying the values that propel our industry forward, NVCA President and CEO Bobby Franklin, announced today.

“Aileen Lee, Geoff Yang, and Terry McGuire stand out as visionary architects of our industry’s future, boldly reshaping the landscape of entrepreneurship,” said Franklin. “Their profound societal impact extends well beyond boardroom walls, paving the way for forthcoming innovators and disruptors.”

ABOUT THE INDUCTEES:

• Aileen Lee – As the founder of Cowboy Ventures, Alieen is a transformative force in venture capital, known for coining the term “unicorn” to describe hypergrowth software companies with valuations surpassing $1 billion. With a keen eye for promising startups, Aileen partners with early-stage teams to build companies that redefine industries. Her advocacy for diversity and inclusion, coupled with her role as a co-founder of All Raise, underscores her commitment to fostering a more inclusive entrepreneurial ecosystem.
• Geoff Yang – Geoff’s impact on technology and media is unparalleled. As a co-founder of Redpoint Ventures, he has championed numerous successful companies from inception to IPO, leaving an indelible mark on the industry. His dedication to sports and philanthropy through his leadership with the U.S. Olympic and Paralympic Committee Foundation and the Advisory Board for the PGA of America exemplifies the ethos of the Venture Vanguard Award, recognizing excellence in both business and community engagement.
• Terry McGuire – With a distinguished career spanning over three decades, Terry has been a driving force for innovation, touching more than 60 million patients and saving over 400,000 lives by spearheading progress in healthcare and beyond. A former NVCA Board Chair, Terry founded Polaris Partners in 1996. He boldly testified before Congress on behalf of the industry during Dodd-Frank and he created (and continues to lead) the Global Venture Capital Congress, uniting venture capital association leaders worldwide and showcasing his unwavering commitment to global cooperation.

NVCA will officially honor the second class, presented by platinum sponsors EY Private and SVB, a division of First Citizens Bank at the 2024 NVCA Leadership Gala.

The event will take place on May 2, 2024, at the Ritz Carlton Hotel in San Francisco. Registration is required.

The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about the NVCA, please visit www.nvca.org.

SOURCE National Venture Capital Association

PALO ALTO, Calif., Feb. 22, 2024 — S32, a leading venture capital firm founded by Bill Maris after building Google Ventures, today proudly announced the appointment of Dr. Andy Conrad, a leader in the application of technology and advanced data science, as General Partner. Dr. Conrad previously held numerous senior roles at Google, having most recently founded and served as the CEO and Executive Chairman of Verily Life Sciences (previously “Google Life Sciences”). He has held positions at GV (“Google Ventures”) and X (“GoogleX”), and, during his tenure, worked with DeepMind, Google Cloud, Google AI and other technical and business teams across the Alphabet ecosystem. He continues to serve as an advisor to Google.

Before joining Google, Dr. Conrad was the Chief Scientific Officer of Laboratory Corporation of America (“LabCorp”), one of the largest clinical laboratory companies in the world. He previously co-founded the National Genetics Institute, which grew rapidly before being acquired by LabCorp. Dr. Conrad earned a PhD from the University of California, Los Angeles.

S32’s appointment of Dr. Conrad adds to the deep Google lineage of the firm’s investment and leadership team, which includes S32 Founder Bill Maris, who previously founded and served as CEO of Google Ventures and was Vice President of Special Projects at Google and Alphabet, and S32 CEO Andy Harrison, who previously served as leadership at Google X and was an executive and the Global Head of Business and Corporate Development of Verily Life Sciences. Dr. Conrad’s body of work at the intersection of enterprise software, AI, health technology and computational biology aligns well with S32’s mandate to invest at the frontiers of technology across key segments of the economy.

“I have known the S32 team for many years. Joining a group of individuals I respect and trust made this decision clear,” said Dr. Conrad. “S32 has an extraordinary platform, and I am excited to join the team and work with entrepreneurs growing businesses aimed at improving the human condition.”

Since its founding in 2017, S32 has invested in numerous successful companies including Coinbase, Crowdstrike, Thrive, Relay, Cue and Auris, as well as more recent early investments in leading software and AI companies, including Cohere, Inceptive, Deel, Inworld, Gusto, Phaidra and BigHat.

“For the more than 25 years I have known Andy, he has always been an incredibly creative, interesting and effective leader – this is why I was delighted to recruit him to join Google and why I am delighted once again to work with him at S32,” said Bill Maris, Founder of S32. “I look forward to where his creativity and insights will take us.”

“Andy is precisely who we want on our side working on behalf of our entrepreneurs and investors,” said Andy Harrison, CEO and General Partner of S32. “He not only dreams big, he’s a world-class founder and business builder. Andy adds tremendous firepower to our firm.”

Andy’s appointment builds upon a strong year for S32, having closed Fund 5, an oversubscribed $525 million fund, and growing its total assets under management to $2 billion.

About S32 

S32 is a venture capital firm investing at the frontiers of technology. Founded by Bill Maris, the team has vast experience building iconic companies. S32’s goal is to accelerate the discovery, development, and distribution of revolutionary technologies that improve the human condition. The firm invests across the entirety of technology. This includes artificial intelligence, enterprise software, cybersecurity, fintech, quantum computing, computational biology, and biotechnology.

Contact

Kara Curtis
Prosek Partners
Vice President
[email protected] 

SOURCE S32

• Commitment to make life-saving products to treat life-threatening hypovolemia due to sepsis and blood loss available in Sub-Saharan Africa where there is outsized demand.
• Targeted $20M Series B Round to include Sub-Saharan Africa in product development.
• Partnering with Propelevate to drive Sub-Saharan Africa strategy.

KANSAS CITY, Mo., Feb. 22, 2024 — Life sciences company Vivacelle Bio today announced Sub-Saharan Africa as a priority region for its life-saving alternative to fluid resuscitation to treat hypovolemia caused by severe sepsis, septic shock, or blood loss.  Vivacelle Bio’s lifesaving cardiovascular support fluids (VBI-S and VBI-1), both comprised of phospholipid nanoparticles, can be used to treat the refractory hypovolemia and hypotension that occur in severe sepsis and septic shock, and used instead of blood to correct hypovolemia from blood loss such as after major vehicle collisions and postpartum hemorrhage.  Vivacelle Bio is partnering with Propelevate to drive the Sub-Saharan Africa strategy, which is fully integrated into its Series B financing round.

Globally, sepsis kills ~11M people each year. Young children in Sub-Saharan Africa have outsized rates of sepsis death from neonatal sepsis, and sepsis caused by respiratory infection, diarrheal disease, and malaria. A child born in sub-Saharan Africa is nearly 8 times more likely to die in the first month of life than a child born in the US. Likewise, seventy percent of pregnancy-related deaths globally occur in Sub-Saharan Africa. Annually more than 75,000 women in the region die from postpartum hemorrhage or maternal sepsis.

Vivacelle Bio’s use of phospholipid nanoparticles to raise the blood pressure in patients with life-threatening hypovolemia due to blood loss, sepsis and septic shock is unprecedented. A successful phase 2a clinical trial of VBI-S, the formulation designed for treating hypovolemia due to septic shock, was recently completed. The fluid restores intravascular volume and absorbs nitric oxide, a gas made by the body that is largely responsible for the drop in blood pressure that is not responsive to current therapy. The evidence from the clinical trial showed that VBI-S is safe for patients while it increases blood pressure and reverses organ failure even when standard therapy has failed.  This is the first-time in 20 years that a phase 2 or phase 3 trial in septic shock has succeeded in meeting all of its efficacy endpoints. 

VBI-1, designed for blood loss, also absorbs nitric oxide, and protects vital organs from reperfusion injury. Pre-clinical studies show that VBI-1 has greater efficacy than blood or standard of care fluids in raising blood pressure after severe hemorrhagic shock. Blood and other fluids promote reperfusion injury to vital organs while VBI-1 prevents this organ damage.

The current $20M Series B round includes funding for a Global Pediatric Phase III trial for VBI-S, and two Phase IIA trials for VBI-1, which will integrate sites in Sub-Saharan Africa to ensure the efficacy of both products in diverse contexts.

Vivacelle Bio Co-Founder Dr. Cuthbert Simpkins, MD, Chief Innovation Officer of Vivacelle Bio and Sosland Missouri Endowed Chair in Trauma Services at the University of Missouri, Kansas City (UMKC) School of Medicine, says “VBI-S and VBI-1 can be used in any context where there is a health worker able to administer IV fluids. VBI-S has shown to be more effective than vasopressors at addressing septic shock, without the side effects such as gangrene of fingers and toes. Moreover, VBI-S carries oxygen and is shown to improve lung oxygenation, and reverse elevated creatinine in septic patients. Both VBI-S and VBI-1 are shelf stable for at least a year at room temperature with VBI-S currently having more than 2 years stability at room temperature.  VBI-1 circumvents many of the challenges of blood transfusions: the challenges of securing blood donors, the need to type, to maintain cold chain, the short shelf-life, and the risk of disease transmission.”

Harven DeShield, JD, PhD, the CEO of Vivacelle Bio commented, “Being born in Liberia, and raised in Liberia, Côte d’Ivoire and Tanzania, the critical value proposition of VBI-S and VBI-1 being readily affordable and available in Africa is not only of immense personal importance, but also provides a holistic, strategic vehicle to address persistent health inequities in Africa related to treatment of shock and trauma.”

Dr. Angela James, Senior Advisor for 2Flo Ventures, a Chicago-based startup studio and venture capital firm, and investor in Vivacelle Bio, echoed the importance of the impact of addressing the global unmet need for people with sepsis and septic shock having equitable access to safe and effective treatments.  “Vivacelle Bio is poised to bring life-changing drugs to patients and their families in a region which has not been given equitable access to effective therapies is a great opportunity from both a healthcare and business perspective.”  

Through partnership with Propelevate, Vivacelle Bio will engage global health funders and stakeholders during final stages of product development, and Propelevate will drive Vivacelle Bio’s go-to-market strategy for African markets upon regulatory approval. “We are excited to partner with Vivacelle Bio because of their commitment to Sub-Saharan Africa. Life sciences companies typically think about the region as an afterthought. Vivacelle Bio is already taking specific needs in the region into account in product development and laying the groundwork for eventual local manufacturing to ensure wide availability of its life-saving products,” said Propelevate’s Managing Director Krisila Benson.

This work was supported by the Naval Medical Research Command (NMRC) – Naval Advanced Medical Development (NAMD) Program under MTEC award 20-02-NavyMultiTopic-002.

About MTEC

The Medical Technology Enterprise Consortium (MTEC) is a 501(c)(3) biomedical technology consortium collaborating under an Other Transaction Agreement (OTA) with the U.S. Army Medical Research and Development Command (USAMRDC) that serves those who serve our nation. For more information about MTEC, visit mtec-sc.org.

About Vivacelle Bio: Vivacelle Bio (www.vivacellebio.com) is a life sciences company that utilizes patented phospholipid nanoparticle technology to design products that increase the survivability of critically-ill patients. In addition to VBI-S and VBI-1, Vivacelle Bio has a pipeline of products at various stages of development applicable to a range of health areas including reperfusion injury, organ preservation and transplantation, multiple organ dysfunction syndrome and hyperprocalcitonemia. Vivacelle Bio has raised approximately $10.9M in seed and Series A1-A3 funding, including from the US Department of Defense, the US National Institutes of Health, and 2Flo Ventures.  

About Propelevate: Propelevate (www.propelevate.global) is a consulting firm working at the intersection of the private sector and social impact. Propelevate has experience bringing new health products to market in Africa and Asia, raising tens of millions of dollars in global health financing, and brokering successful partnerships between commercial and development actors.

SOURCE Vivacelle Bio

CLOSTER, N.J., Feb. 22, 2024 — ChemoMouthpiece, LLC. announces the FDA 510(k) Marketing Clearance for their device, The Chemo Mouthpiece™.  The Chemo Mouthpiece™ is intended to be used to cool the oral mucosa to reduce the incidence and severity of chemotherapy induced oral mucositis in adult patients, a very debilitating side effect of chemotherapy.

In other most notable news, ChemoMouthpiece, LLC. has just closed on their Private Placement Round of $10 million in upfront capital with a full commitment for the second tranche of additional funds in excess of $10 million. “Our funding partners in this round not only provide the necessary working capital but also provide insights and valuable experiences in the adjacent business sectors,” said David Yoskowitz, President, and CEO of ChemoMouthpiece.

“Chemo Mouthpiece™ is fully stocked, as we will begin shipping across the US within the next quarter now that we have FDA Marketing Clearance.  We are currently executing multi-pronged objectives including the initiation and implementation of a dedicated sales force with our commercialization partner, EVERSANA, along with important marketing strategies aimed at raising awareness of oral mucositis and the availability of The Chemo Mouthpiece™. Our clinical advancement program under the guidance of Dr. Steve Sonis, one of the foremost thought leaders in the oral mucositis arena, is progressing nicely as we have just completed our pivotal clinical trial. A manuscript for publication is being drafted and numerous presentations are planned for the coming months at the Oncology Nursing Society (ONS) meeting, the Multinational Association of Supportive Care in Cancer (MASCC) meeting as well as attendance at this year’s American Society of Clinical Oncology (ASCO) meeting, to name a few. That said, our main initiative is to increase patient access to this vital product and give patients relief from the pain and worries of oral mucositis while they fight their battle with cancer.  We are excited having achieved these recent milestones and look forward to bringing the Chemo Mouthpiece™ to the hundreds of thousands of patients who may otherwise suffer from the painful and disruptive side effect of oral mucositis,” stated Frank Jacobucci, Chief Commercial Officer of ChemoMouthpiece, LLC.

ChemoMouthpiece, LLC is a privately held medical device company that develops and commercializes propriety oral cryotherapy products for cancer patients.

The Chemo Mouthpiece™ device was developed based on the personal experience of inventor, founder and CEO, David Yoskowitz, who when diagnosed with Hodgkin’s Lymphoma, experienced oral mucositis firsthand. His treatment options included ice chips to mitigate and minimize the pain. Yet this caused nausea, was difficult to maintain in his mouth, and did not effectively cool the entire oral cavity which led him to search for a better option.

An engineer by trade, he made it his mission to find a better way for cancer patients to cope with oral mucositis during treatment. He created a simple, effective, easy-to-use device to be used during chemotherapy treatments at home or in a hospital. The Chemo Mouthpiece™ efficiently cools the entire oral cavity. Patients can freeze the device at home and take it with them to be used during treatment, creating a simple solution for an unmet patient’s need.

Up to 80% of all patients receiving stem cell transplant and approximately 40% of all chemotherapy patients develop oral mucositis. The market for the management of oral mucositis is estimated to be in excess of several billion dollars world-wide with several million patients being affected. The Chemo Mouthpiece™ cools down the entire oral cavity, causing vasoconstriction, which in effect slows and reduces the flow of chemotherapy in the oral cavity, thus greatly reducing the risk of developing oral mucositis. The cryotherapy approach has been positively studied for decades and the Chemo Mouthpiece™ has significant and improved advantages over conventional cryotherapy interventions.

For more information on ChemoMouthpiece, LLC, please visit our website at www.chemomouthpiece.com or contact; Scott Narins, Director of Investor Relations/Investment Banking at [email protected] or Bonni Tattoli, VP, Commercial Operations at [email protected] 

Media Contact:
Frank Jacobucci, Chief Commercial Officer
609.330.4949
[email protected]

SOURCE ChemoMouthpiece, LLC