AI-Powered Solution Revolutionizes Civil Engineering Decision-Making

NEW YORK, July 16, 2024 — Celebrating a significant milestone, Dynamic Infrastructure announces that 14 more counties across the USA have embraced its Personal Virtual Assistant Engineer solution, underscoring its pivotal role in modernizing civil engineering practices. This AI-driven solution is meticulously crafted to empower civil engineers in their daily decision-making processes, enhancing efficiency and infrastructure sustainability.

Designed from the ground up, Dynamic Infrastructure’s Personal Virtual Assistant Engineer leverages advanced AI algorithms to deliver real-time insights and predictive analytics. By seamlessly integrating into existing infrastructure systems, this innovative tool optimizes maintenance schedules, reduces operational costs, and enhances overall asset management.

“Our AI solution is not just a tool but a real game changer for County Engineers and Public Work Directors,” said Saar Dickman, Dynamic Infrastructure CEO. “It equips them with fast/quick/ongoing actionable data to make informed decisions, ensuring optimal infrastructure performance and public safety.”

The widespread adoption of Dynamic Infrastructure’s Personal Virtual Assistant Engineer underscores its effectiveness in revolutionizing civil engineering practices across diverse geographical landscapes. As more counties across the USA integrate this cutting-edge technology, Dynamic Infrastructure remains committed to advancing infrastructure resilience and enhancing public safety

About Dynamic Infrastructure: Dynamic Infrastructure is a leader in I-driven solutions for civil infrastructure maintenance. Dedicated to enhancing infrastructure resilience and sustainability, Dynamic Infrastructure empowers Counties with state-of-the-art tools for optimizing asset management and improving public infrastructure outcomes.

Media inquiries can be made to Orly Ben-Eliyahu, +1 (240) 731-8864, [email protected].

www.diglobal.tech 

SOURCE Dynamic Infrastructure

• New financing paves the path to profitability as Thyme Care mainstreams value-based cancer care; capital injection will support the anticipated broad rollout of national health plan coverage, power provider growth in new regions, and expand its reach to more patients in need
• Thyme Care challenges inefficiencies and waste in today’s fee-for-service environment through 24/7 virtual care navigation, deep technology and data insights, and groundbreaking oncologist-led therapeutic interventions
• By harnessing relationships with oncology practices, primary care groups, and health plans, Thyme Care uniquely assumes two-sided financial risk to align payment incentives with care quality, while delivering an unparalleled patient experience 

NASHVILLE, Tenn., July 16, 2024 — Thyme Care, the leading value-based cancer care enabler, today announced the close of a $95M capital raise. With $55M in equity funding, Thyme Care welcomes new investor Concord Health Partners with participation from all existing investors, including CVS Health^® Ventures, Town Hall Ventures, a16z Bio + Health, AlleyCorp, Echo Health Ventures, Frist Cressey Ventures, and Foresite Capital. Banc of California will provide an additional $40M in debt financing, bringing Thyme Care’s total amount raised to date to $178M.

The cancer care ecosystem is nearing a financial breaking point, with drug costs accounting for up to 70% of the total cost of care and many life-saving cancer therapies costing upwards of $200,000 per year. Meanwhile, the experience of cancer care varies widely based on an individual’s location, access to care, and ability to navigate the healthcare system. Many patients, particularly those already facing socio-economic barriers, experience gaps in support, financial toxicity, and a lack of coordination between visits.

Thyme Care’s suite of services, including its 24/7 specialized cancer care navigation services, robust technology and data insights, and provider-led therapeutic interventions enable a more seamless patient experience and drive sustainability across the ecosystem. Its core navigation services, including interventions to minimize acute care utilization and increase access to social services, show a $594 reduction in total costs per month for navigated patients compared to a control group. Through Thyme Care’s Medicare Advantage and commercial payer agreements, as well as its collaborations in CMS’s Enhancing Oncology Model (EOM), Thyme Care assumes financial responsibility for oncology populations at scale to reduce the total cost of care and improve outcomes and experience.

“Thyme Care’s ability to enhance patient outcomes and reduce the total cost of care is directly aligned with our mission at Concord to support best-in-class companies with solutions that improve quality, increase access, and reduce cost of care,” said James Olsen, founder and managing partner at Concord. “Their provider-led interventions targeting ballooning oncologic drug spend and acute care utilization highlight their unique approach to system-wide affordability, and their deep partnerships in cancer care mark their proven success. We look forward to partnering with Robin, Bobby, Brad, and the rest of the Thyme Care team to help the company scale in a market where its differentiated solution can so greatly impact cost and quality.”

To reduce oncologic drug spend across the cancer care system, Thyme Care has operationalized provider-led pharmacy intervention techniques, including drug waste minimization protocols, clinically equivalent drug substitutions, and more. Over the past year, Thyme Care has rapidly expanded its Thyme Care Oncology Partner (TCOP) partnerships to spearhead value-based cancer care. By operating as an extension of the practice, Thyme Care deploys virtual care delivery services and analytic capabilities to reduce administrative burden, unlock practice efficiency, and enable success in new payment arrangements.

“Our latest funding is a testament to the dedication and expertise of our incredible team, whose relentless efforts drive our mission to transform the cancer care experience forward,” said Robin Shah, Thyme Care co-founder and chief executive officer. “We are profoundly grateful for the unwavering support and collaboration of investors, providers, and payer partners, whose commitment makes Thyme Care’s unique, provider-centered approach possible. Together, we are reshaping the landscape of oncology, ensuring better care and affordability for all.”

Thyme Care will use the new funds to grow and scale the business by expanding into new markets, investing in its existing oncology, primary care, and health plan partnerships, and deepening its clinical value-based care model. Thyme Care is actively managing more than half-billion dollars in medical spend across its risk-based contracts and is on pace to more than triple that number within the next year. In addition, the company has more than doubled its oncology partnerships over the past six months, with active plans to expand across the United States through additional contracts with health plans, employers, and risk-bearing primary care groups.

“Cancer is a complex and costly disease, but we’re committed to supporting both patients and providers to improve the care experience,” said Vijay Patel, managing partner, CVS Health^® Ventures. “Thyme Care’s provider-focused approach is transforming care delivery and supporting alternative payment models, and we’re excited about all the ways we can leverage our strategic expertise to continue their growth. We look forward to helping them scale these critical services to make cancer care more affordable and accessible.”

About Thyme Care
Thyme Care is the leading value-based care enabler, collaborating with payers and providers to transform the experience and outcomes for individuals living with cancer. The company partners with health plans, employers and risk-bearing providers to assume accountability for enhanced care quality, improved health outcomes, and reduced total cost of care. Thyme Care’s approach combines a technology-enabled Care Team and seamless integration with more than 800 oncologists in Thyme Care Oncology Partners, creating a hybrid collaborative care model that guides and supports the entire patient journey. Thyme Care empowers oncologists nationwide through purpose-built tech, advanced data analytics, and virtual patient engagement, driving better care and outcomes in value-based arrangements. Thyme Care is a founding member of CancerX, and is backed by leading investors. To learn more about how Thyme Care is enabling the shift to value-based care in oncology, visit www.thymecare.com.

Contact
Kimberly Dreisinger
Thyme Care Communications
[email protected]

SOURCE Thyme Care

BOSTON, July 16, 2024 — Kins, a digital-first hybrid care physical therapy practice, announced today a strategic investment, which includes funding from Healthworx, the investment arm of CareFirst Inc. This investment is part of a $7M financing round with additional investors including Redesign Health, W Health Ventures, and Asahi Kasei Ventures. The company will use funds to accelerate development of its virtual and in-person care platform and to expand into Washington D.C., Maryland, and Virginia markets.

“This investment is a pivotal milestone for Kins, highlighting our progress in revolutionizing physical therapy care,” said Dan Smith, CEO of Kins. “We have proven our exceptional care model with patients, providers, and health systems. We are excited for this next chapter working with payers on value based care delivery.”

Kins’ combination of virtual and in-person treatment continues to surpass both traditional physical therapy clinic performance and newer digital-only MSK solutions. 84% of Kins patients successfully complete their care and report 3x higher industry results in functional and quality of life improvement.

“Kins is transforming the delivery of physical therapy in today’s digital age,” said Christopher George, Investment Manager at Healthworx. “We are excited by the potential of the company’s hybrid care model to improve access and outcomes for patients, while working to reduce costs for payers.”

“We are modernizing patient care by providing a level of convenience and access that traditional clinic settings simply can’t match. Beyond convenience, we are delivering significantly improved clinical outcomes at lower costs,” stated Nadine Booysen, Chief Clinical Officer. “There will always be a need for clinical care, delivered by licensed providers. With Kins, our personalized, hybrid physical therapy approach leverages technology to efficiently deliver value-driven care at scale.”

Since its launch in 2021, Kins has provided 1-on-1 hybrid care to thousands of patients, resulting in 92 NPS patient satisfaction, more than 2x higher industry results in pain reduction, and 77% of patients achieving all their personal goals. Currently available in New York and Massachusetts, Kins will now expand service to DC, Maryland and Virginia.

About Kins

Kins is a physical therapy practice that delivers personal connection and modern convenience. Offering a hybrid model of virtual and in-person care, Kins enables therapists and patients to collaborate in creating a course of care designed around the patients’ needs. For more information about Kins, please visit https://www.kins.com.

About Healthworx

Healthworx operates at the intersection of healthcare and innovation by creating, co-creating, and investing in companies improving healthcare quality, accessibility, affordability, and equity. Healthworx envisions a healthier future for all people by changing how health works. For more information about Healthworx, please visit https://www.healthworx.com.

Press Inquires: [email protected] 

SOURCE Kins

CINCINNATI, July 16, 2024 — Omni Fiber, a regional Fiber Internet Service Provider with operations in over 25 markets in Ohio and Pennsylvania backed by Oak Hill Capital, today announced the closing of $150 million in debt financing from Stonepeak Credit.

Founded in 2022 by management and Oak Hill, Omni Fiber has invested over $250 million in building an XGS-PON fiber network and is on track to reach approximately 200,000 locations by the end of the year. The financing from Stonepeak Credit will fund rapid expansion into more communities in Ohio, Pennsylvania, and Michigan.

Omni Fiber launched its service in late 2022 and now serves residential and business customers in over 25 small and mid-size communities. Construction is in progress in over 15 additional communities, and network design and engineering activities are ongoing in many others.

Omni Fiber’s founding CEO, Darrick Zucco said, “We are excited about the additional opportunities this financing enables. The company’s network expansion not only brings choice to communities with limited options for reliable, ultra-high-speed Internet service but also creates hundreds of new jobs at Omni Fiber and local contractors. The halo effect on economic development for the impacted towns is significant.”

Scott Baker, Managing Partner at Oak Hill Capital, added “It has been a uniquely rewarding experience to partner with Darrick and his talented leadership team. We are thrilled by the rapid growth of Omni Fiber and are committed to continuing investing behind the team as they expand their fiber services to underserved markets in Ohio, Pennsylvania, and Michigan.”

Ryan Roberge, Senior Managing Director at Stonepeak, added “We are proud to partner with Omni Fiber and Oak Hill Capital to support Omni’s next phase of growth. Our team was thoroughly impressed with Darrick and the rest of Omni’s management team and their plans to expand Omni’s next generation fiber network to additional communities in the Midwest. We look forward to continuing our partnership with Omni and Oak Hill Capital over the long-term.”

With the additional funding, Omni Fiber expects to accelerate the pace of expansion and announce more communities in the next few months.

About Omni Fiber
Omni Fiber was founded in 2022 and is backed by Oak Hill Capital, one of the largest investment firms in the telecommunications industry. Based in Ohio, Omni Fiber is led by a leadership team with 100+ years of combined industry experience and provides 100% fiber-optic broadband Internet, TV, and Phone services to residential and business customers in the Midwestern United States. Omni Fiber offers symmetrical speeds of up to 10 Gbps, no hidden fees, no data caps, Premium Wi-Fi included, local customer service, and competitive pricing. For more information, please visit www.omnifiber.com.

About Oak Hill Capital
Oak Hill is a longstanding private equity firm focused on the North America middle-market. Oak Hill applies a specialized, theme-based approach to investing in the following dedicated industry sectors: Media & Communications, Industrials, Services, and Consumer. The Firm implements a highly systematic approach to theme development, proactive origination, and value creation in partnership with management to build franchises of lasting value. Over the past 35+ years, Oak Hill and its predecessors have raised approximately $20 billion of initial capital commitments and co-investments, invested in approximately 100 companies, and completed more than 300 add-on acquisitions representing an aggregate enterprise value at acquisition of over $60 billion. For more information, please visit www.oakhill.com.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $71.2 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and real estate.

Stonepeak is a sponsor of private equity and credit investment vehicles. Stonepeak Credit provides credit solutions to infrastructure sponsors and companies.

Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

Omni Fiber Media Contact:
Andres Tovar
[email protected]
513-480-9610

SOURCE Omni Fiber

• EQT Life Sciences has invested in Asceneuron’s oversubscribed Series C and Prof. Philip Scheltens will join the Asceneuron Board of Directors
• Asceneuron – which is developing small molecules targeting tau protein aggregation, a root cause of neurodegenerative disease – will use the funds to progress its lead asset ASN51 into Phase 2 clinical development for the treatment of Alzheimer’s disease

AMSTERDAM, July 16, 2024 — EQT Life Sciences is pleased to share that the LSP Dementia Fund has invested in Asceneuron SA (“Asceneuron” or “the Company”), a clinical stage biotech company developing small molecules, targeting tau protein aggregation, a root cause of neurodegenerative disease. New investors in the oversubscribed USD 100 million Series C also include Novo Holdings – which led the round – OrbiMed and SR One. Existing investors M Ventures, Sofinnova Partners, GSK Equities Investments Limited and Johnson & Johnson Innovation also participated. Prof. Philip Scheltens, Partner and Head of the LSP Dementia Fund, will join the Asceneuron Board of Directors, and Dr. Arno de Wilde, Director at the Fund will join as board observer.

The financing will be used to advance the clinical development of Asceneuron’s clinical pipeline of OGA inhibitors for the treatment of neurodegenerative diseases. Primarily, Asceneuron plans to take its lead asset, known as ASN51, into Phase 2 clinical development for the treatment of Alzheimer’s disease. ASN51 is an oral small molecule drug designed to inhibit OGA, an enzyme implicated in protein aggregation. By preventing the aggregation of tau proteins, ASN51 aims to slow the progression of Alzheimer’s disease. OGA inhibition has also shown promise in the prevention of other neurodegenerative diseases, including Parkinson’s disease and amyotrophic lateral sclerosis.

Asceneuron has completed five early-stage clinical trials, showing that their treatment effectively reaches the brain and targets the OGA enzyme. Asceneuron plans to initiate its first Phase 2 clinical study later this year.

Barbara Angehrn Pavik, Chief Executive Officer of Asceneuron, said: “This high caliber life sciences investor syndicate further validates the potential of our OGA inhibitor pipeline and leadership in the field of tauopathies. We are excited to be working with the LSP Dementia Fund given their outstanding track record in the field of Alzheimer’s disease as we advance our lead asset ASN51 into Phase 2 clinical development, recognizing its potential to significantly expand treatment options for patients with Alzheimer’s disease”.

New Asceneuron Board Member and Head of the LSP Dementia Fund Prof. Philip Scheltens added: “Dementia and other neurodegenerative diseases are some of the greatest healthcare challenges of our time. With our LSP Dementia Fund, EQT Life Sciences can invest in innovative companies across the neurodegenerative spectrum. Asceneuron is exactly this kind of company. Its clinical pipeline has breakthrough potential to change patients’ lives for the better and we’re delighted to be joining Asceneuron on its journey.”

Contact

EQT Press Office, [email protected]  

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/eqt-life-sciences-invests-in-asceneuron–a-neurodegeneration-therapeutics-company–as-part-of-usd-10,c4015133

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• Financing led by Novo Holdings, including new investment from EQT Life Sciences – LSP Dementia Fund, OrbiMed and SR One with participation from existing investors M Ventures, Sofinnova Partners, GSK Equities Investments Limited and Johnson & Johnson Innovation – JJDC, Inc.
• Funds will be used to progress lead asset ASN51, an oral small molecule OGA inhibitor, into Phase 2 clinical development for the treatment of Alzheimer’s disease

LAUSANNE, Switzerland and SAN FRANCISCO, July 16, 2024 — Asceneuron SA, a clinical stage biotech company developing small molecules targeting tau protein aggregation, a root cause of neurodegenerative disease, today announces an $100 million oversubscribed Series C financing to advance the clinical development of its groundbreaking clinical pipeline of OGA inhibitors for the treatment of neurodegenerative diseases. The financing was led by Novo Holdings with new investment from EQT Life Sciences – LSP Dementia Fund, OrbiMed and SR One, alongside participation from existing investors M Ventures, Sofinnova Partners, GSK Equities Investments Limited and Johnson & Johnson Innovation – JJDC, Inc.

The financing will be used to advance Asceneuron’s lead asset ASN51 into Phase 2 clinical development for the treatment of Alzheimer’s disease. ASN51 is an oral small molecule drug designed to inhibit OGA, an enzyme implicated in protein aggregation. By preventing the aggregation of tau proteins, ASN51 aims to slow the progression of Alzheimer’s disease. OGA inhibition has also shown promising potential to prevent the aggregation of proteins that are central to other neurodegenerative diseases, including Parkinson’s disease and amyotrophic lateral sclerosis.

ASN51’s unique mode of action and convenient oral formulation make it an ideal therapy for patients with Alzheimer’s disease. Asceneuron has completed five Phase 1 clinical trials, demonstrating complete central nervous system uptake and high OGA enzyme occupancy. Asceneuron plans to initiate its first Phase 2 clinical study later this year.

Barbara Angehrn Pavik, Chief Executive Officer of Asceneuron, said: “This high caliber life sciences investor syndicate further validates the potential of our OGA inhibitor pipeline and leadership in the field of tauopathies. We are excited to advance our lead asset ASN51 into Phase 2 clinical development, recognizing its potential to significantly expand treatment options for patients with Alzheimer’s disease.” 

Naveed Siddiqi, MD, Senior Partner, Venture Investments, Novo Holdings, commented: “Alzheimer’s disease is undergoing a transformational moment. Millions are afflicted by this devastating disease and there are very few therapeutic options. Validated biomarkers are allowing for more focused and rapid development. We are now witnessing the approvals of the first disease modifying antibody based injectable therapies. Asceneuron’s innovative oral small molecule drug targeting intracellular tau offers the potential for a paradigm shift in the way this neurodegenerative disease is treated.”

Hakan Goker, PhD, Managing Director of M Ventures, the founding investor of Asceneuron, remarked on behalf of the existing investors: “Asceneuron has successfully developed highly differentiated oral OGA inhibitors from pre-clinical development to where they are today, entering Phase 2 development in patients with Alzheimer’s disease. ASN51 holds great promise as a next generation treatment for Alzheimer’s disease in addition to addressing other neurodegenerative diseases, including Parkinson’s disease and amyotrophic lateral sclerosis. Together with the current blue-chip investors like Sofinnova Partners, who led the series A round, we welcome the new strong investor group to continue supporting the company in this significant phase of development.”

In connection with the financing, Naveed Siddiqi of Novo Holdings, Philip Scheltens of EQT Life Sciences – LSP Dementia Fund and Dina Chaya of OrbiMed will join the Asceneuron board of directors, chaired by Abbas Hussain. Amit Shah, board director, will now represent new investor SR One (previously representing GSK). These Board directors join existing investor directors, Henrijette Richter of Sofinnova Partners and Hakan Goker of M Ventures.

About Asceneuron

Asceneuron is a clinical stage biotech company focused on the development of orally bioavailable therapeutics for debilitating neurodegenerative disorders with high unmet medical need. The company’s pipeline reflects its ambition and commitment to developing treatments for a wide range of neurodegenerative diseases. Asceneuron has two clinical-stage small molecule OGA inhibitors in development: ASN90 (licensed to Ferrer Pharmaceuticals) for the treatment of progressive supranuclear palsy (PSP) and a potential best-in-class molecule, ASN51, for Alzheimer’s disease. The company is also planning to advance its pre-clinical development pipeline in Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and other neurodegenerative indications. Asceneuron is backed by a renowned syndicate of investors consisting of Alzheimer’s Drug Discovery Foundation (ADDF), EQT Life Sciences – LSP Dementia Fund, GSK Equities Investments Limited, Johnson & Johnson Innovation – JJDC, Inc., Kurma Partners, M Ventures, Novo Holdings, OrbiMed, Sofinnova Partners and SR One. For more information, please visit www.asceneuron.com.

About EQT Life Sciences

EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients. The Dementia Fund ($297 million) started in 2020 and has a dedicated team of neurologists and neuroscientists focused on investing in therapeutics targeting neurodegenerative diseases. More info: www.eqtgroup.com.

Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About M Ventures

M Ventures is the strategic, corporate venture capital fund of Merck. From its headquarters in the Netherlands and offices in Germany, USA and Israel, M Ventures invests globally in transformational ideas driven by innovative entrepreneurs in the areas of Healthcare drug development, Life Science tools, Electronics and Frontier Technology & Sustainability. Taking an active role in its portfolio companies, M Ventures teams up with management teams and co-investors to translate scientific discoveries into commercial success. M Ventures focuses on identifying and financing novel solutions to some of the most difficult challenges, through company creation and equity investments in fields that will impact the vitality and sustainability of Merck’s current and future businesses. For more information visit www.m-ventures.com.

About Novo Holdings

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health Investments and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk.

About OrbiMed

OrbiMed is a leading healthcare investment firm, with approximately $17 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, through a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and extensive global team resources to help build world-class healthcare companies. OrbiMed’s team of over 130 professionals is based in New York City, San Francisco, London, Shanghai, Hong Kong, Mumbai, Herzliya, and other key global markets. More info: www.orbimed.com. 

About Sofinnova Partners

Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.

Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information please visit: sofinnovapartners.com.

About SR One

SR One is a transatlantic biotechnology investment firm that collaborates with entrepreneurs and investment partners in an effort to build elite biotechnology companies. The Company’s mission is to translate innovative technologies and scientific discoveries into next-generation medicines with the potential to benefit patients with significant unmet medical needs. SR One has offices in Redwood City, CA, and Philadelphia, PA, in the US and London in the UK. For more information, please visit www.srone.com.

SOURCE Asceneuron SA

• Funds will be used to progress lead asset ASN51, an oral small molecule OGA inhibitor, into Phase 2 clinical development for the treatment of Alzheimer’s disease
• Alzheimer’s disease is an area of very high unmet medical need with a lack of oral disease modifying therapies
• Naveed Siddiqi, Senior Partner, Venture Investments, Novo Holdings will join Asceneuron Board of Directors

COPENHAGEN, Denmark, July 16, 2024 — Novo Holdings, a leading life science investor, today announces it led a $100 million Series C Financing in Asceneuron, a clinical stage biotech company developing small molecules targeting tau protein aggregation, a driver of neurodegenerative disease. The financing will be used to advance Asceneuron’s lead asset ASN51 into Phase 2 clinical development for the treatment of Alzheimer’s disease.

ASN51 is an oral small molecule drug designed to inhibit OGA, an enzyme implicated in tau protein aggregation. By preventing the aggregation of tau proteins, ASN51 aims to slow the progression of Alzheimer’s disease. OGA inhibition has also shown promising potential to prevent the aggregation of proteins that are central to other neurodegenerative diseases, including Parkinson’s disease and amyotrophic lateral sclerosis.

ASN51’s unique mode of action and convenient oral formulation make it an ideal therapy for patients with Alzheimer’s disease. Asceneuron has completed five Phase 1 clinical trials, demonstrating complete central nervous system uptake and high OGA enzyme occupancy, indicating its potential for differentiation from its competitors. Asceneuron plans to initiate its first Phase 2 clinical study later this year.

Asceneuron has a seasoned leadership team and a world class Scientific Advisory Board of experts in neurodegenerative diseases.

Naveed Siddiqi MD, Senior Partner, Venture Investments, Novo Holdings said: “Alzheimer’s disease is undergoing a transformational moment. Millions are afflicted by this devastating disease and there are very few therapeutic options. Validated biomarkers are allowing for more focused and rapid development. We are now witnessing the approvals of the first disease modifying antibody based injectable therapies. Asceneuron’s innovative oral small molecule drug targeting intracellular tau offers the potential for a paradigm shift in the way this neurodegenerative disease is treated.”

In connection with the financing, Naveed Siddiqi will join the Asceneuron Board of Directors.

Barbara Angehrn Pavik, Chief Executive Officer of Asceneuron, commented: “This high caliber life science investor syndicate, led by Novo Holdings, further validates the potential of our OGA inhibitor pipeline and leadership in the field of tauopathies. We are excited to advance our lead asset ASN51 into Phase 2 clinical development, recognizing its potential to significantly expand treatment options for patients with Alzheimer’s disease.”

The financing was led by Novo Holdings, with additional new investment from EQT Life Sciences Dementia Fund, OrbiMed and SR One, alongside participation from existing investors, M Ventures and Sofinnova Partners.

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health Investments and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk.

About Asceneuron
Asceneuron is a clinical stage biotech company focused on the development of orally bioavailable therapeutics for debilitating neurodegenerative disorders with high unmet medical need. The company’s pipeline reflects its ambition and commitment to developing treatments for a wide range of neurodegenerative diseases. Asceneuron has two clinical-stage small molecule OGA inhibitors in development: ASN90 (licensed to Ferrer Pharmaceuticals) for the treatment of progressive supranuclear palsy (PSP) and a potential best-in-class molecule, ASN51, for Alzheimer’s disease. The company is also planning to advance its pre-clinical development pipeline in Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and other neurodegenerative indications. Asceneuron is backed by a renowned syndicate of investors consisting of Alzheimer’s Drug Discovery Foundation (ADDF), EQT Life Sciences Dementia Fund, GSK Equities Investments Limited, Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Kurma Partners, M Ventures, Novo Holdings, OrbiMed, Sofinnova Partners and SR One. For more information, please visit www.asceneuron.com.

SOURCE Novo Holdings

The new capital will spur growth and accelerate research and development. This includes the integration of AI and other technologies into HammerTech’s safety intelligence software platform for general contractors and trusted by more than a million workers globally.

“This is a pivotal moment in our evolution, ultimately benefiting our clients and the industry,” says HammerTech CEO and Co-Founder Ben Leach. “We remain focused on delivering further efficiency gains through smarter workflows, keeping us at the forefront of construction technology to ultimately make construction sites safer.

“Working on a construction site is still one of the most dangerous jobs in the world, with the highest number of workplace fatalities of any industry. Sadly, many of these life-changing events are preventable.

“As projects become more complex, technologies must go beyond digitizing forms. We need to make day-to-day processes and activities easier for site teams so they can focus on working safely and doing what they do best – building.”

Alongside its financial investment, Riverwood brings expertise in growing and scaling technology companies globally, guiding HammerTech as it continues its ambitious expansion strategy.
“HammerTech powers the safety programs for the most sophisticated construction firms in the world,” said Jeff Parks, Co-Founder & Managing Partner, Riverwood Capital. “Ben and the team have built an incredible business centered around delivering value to stakeholders, in an industry that is traditionally underserved by transformative technologies.

“We couldn’t be more excited to partner with such a visionary team in the next phase of their growth as they bring a much-needed enterprise-wide safety intelligence software to new markets and customers.”

“We view HammerTech as a mission-critical solution for modernizing and automating job site safety,” says Ramesh Venugopal, Partner, Riverwood Capital. “From general contractors to specialty contractors to asset owners, HammerTech delivers value that is driving tangible ROI all while making the job site a safer place to work,” said Ramesh Venugopal, Partner, Riverwood Capital.

“We are impressed by its well-designed platform for onboarding and orientation, safety inspections, incident reporting, and job site compliance – with clear audit trails for lookbacks.”

Founded in 2013, HammerTech has posted impressive growth. It now serves over 500 clients worldwide, including contracting giants with multibillion-dollar turnovers. They include Shawmut Design and Construction, DPR Construction, and market leaders like Hutchinson in Australia and European contractor John Paul Construction.

HammerTech has been used on over 20,000 construction projects around the world, with more than 3.6 million workers inducted via the platform to date.

Growth equity firm Arrowroot Capital will remain a HammerTech shareholder after investing in the Melbourne-headquartered firm in 2019. Riverwood Capital will now have HammerTech board representation, in addition to Arrowroot Capital.

Lightning Partners served as financial advisor to HammerTech in connection with the transaction.

Media Contact: 

North America: Caitlin Mitchell, Riverwood Capital [email protected]
AUS: John Fergusson, Daymark, [email protected] +61 (0) 407 826 952

About HammerTech: Built for construction, HammerTech’s safety intelligence software platform was created to improve worker safety and solve site efficiency challenges. Launched in 2013, the breadth, deep insights and expertise of HammerTech is trusted by over 20,000 projects led by construction’s best contractors including Hutchinson, DPR Construction, Shawmut Design and Construction, and John Paul Construction to make their job sites among the safest in the world. Visit www.hammertech.com to learn more.

About Riverwood Capital: Riverwood Capital invests in high-growth companies in the technology and technology-enabled industries. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies that typically need growth capital and expertise to scale on a global basis. The firm seeks to invest in established businesses with a proven technology and business model, and the proper fit in terms of culture and values. Riverwood was founded in 2008 and has had the opportunity to invest in and support over 80 companies since inception. The Firm has offices in Menlo Park, CA; Miami, FL; New York, NY; and São Paulo, Brazil. Please visit www.riverwoodcapital.com.

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Financing will enable the company to expand its suite of financial services to make drivers’ lives easier

SAN FRANCISCO, July 15, 2024 — TruckSmarter, a digital platform designed to assist owner-operators and trucking companies in optimizing their operations, today announced the close of a $50 million debt facility, with the option to scale to $100 million, led by CoVenture. The funding will allow TruckSmarter to continue to scale its suite of financial services to further empower truck drivers to build, manage, and grow their businesses.

TruckSmarter leads the industry in offering driver-first solutions, serving as a one-stop shop of financial services for truck drivers, owner-operators, and fleets. With TruckSmarter, truck drivers have access to a 100% free load board, transparent freight factoring, fuel discounts, and banking services. Designed and built for truck drivers, the app streamlines their workflows, quickens payment processes, and gives owners easier access to the capital they need to run their businesses.

“The pandemic reminded the world just how critical the trucking industry is to our daily lives and why maintaining a healthy supply chain is key,” said Daniel Kao, co-founder and CEO of TruckSmarter. “In order to transform the logistics industry, we must focus on its backbone – truck drivers. TruckSmarter is committed to providing tailored products and tools to truck drivers that streamline their day-to-day operations, increase earnings, make their lives easier, and, in turn, improve all of our lives.”

“Amid challenges for the trucking industry over the past several years, TruckSmarter has demonstrated how technological innovation and its commitment to drivers is pivotal when developing a disruptive solution that addresses industry needs,” said Lei Tie, Managing Director of CoVenture. “We could not be more excited about partnering with the TruckSmarter team as they embark on this next stage of growth and as the industry makes its recovery.”

TruckSmarter was founded by a team of freight and fintech experts, including CEO Daniel Kao and CTO Paolo Bernasconi. TruckSmarter has brought on hundreds of thousands active users since it was founded in 2021, and has seen >4x YoY revenue growth. To date, TruckSmarter has received a combined $94 million in equity and debt financing, with the option to scale to $144 million.

About TruckSmarter
TruckSmarter is the one-stop shop for truck drivers and owner-operators to build, manage, and grow their businesses. The free platform helps drivers earn more and hold onto more of their money through a powerful suite of financial services and tools:

• a free load board to find and book loads
• fuel discounts up to $1.50/gal
• simple, transparent factoring
• banking tools

Learn more at www.trucksmarter.com.

About CoVenture Management
CoVenture Management, LLC (“CoVenture”) is a privately held alternative asset management firm focused on direct credit opportunities and credit-oriented investments in early and later-stage companies. The firm has two primary areas of focus: Credit Opportunities, through which CoVenture provides asset-backed debt capital to technology-driven companies; and Hybrid Capital Solutions, a flexible mandate to make bespoke investments in later-stage businesses seeking growth capital or non-traditional liquidity solutions. For more information visit https://coventure.vc/.

SOURCE TruckSmarter