H3X builds innovative high power density electric motors for the aerospace, defense, marine, and heavy industry sectors. The company will utilize the funding to expand production and bring its megawatt-class electric motors to market

Infinite Capital leads the round, joined by Hanwha Asset Management, Cubit Capital, Industrious Ventures, Origin Ventures, Venn10 Capital, and Lockheed Martin Ventures, among others

DENVER, Aug. 6, 2024 — H3X, the leading manufacturer of high power density electric motors, announced today a $20 million oversubscribed Series A raise. The funding round was led by Infinite Capital, with participation from Hanwha Asset Management, Cubit Capital, Origin Ventures, Industrious Ventures, Venn10 Capital, and follow-on investors that include Lockheed Martin Ventures, Metaplanet, Liquid 2 Ventures, and TechNexus.

“We’re on an ambitious journey to become the world’s leading supplier of advanced electric motors,” said Jason Sylvestre, Co-Founder and CEO of H3X. “With remarkable speed, we’ve proven that this technology works and has a key role to play in enabling sustainable aviation, decarbonizing the marine and industrial sectors, and unlocking next-generation electrified defense technology. This funding round will enable us to scale up production and operations and deliver on some very large contracts in our pipeline.”

“Through the past three years working with H3X, I have seen a phenomenal display of rapid innovation from the team. Bringing technical advancements to market this fast is rare, as they have already commercialized a series of market-leading electric motors,” said Nathan Doctor, Founder and Managing Partner at Infinite Capital. “I strongly believe we’re on the verge of electrifying aviation and maritime transport, with H3X’s electric propulsion systems as the foundational technology.”

In the past 24 months, H3X has successfully validated its high-performance core technology, launched the HPDM-30, HPDM-250, and HPDM-140 integrated motor drives, and delivered these units to leading aerospace and defense customers. They also successfully completed multiple contracts with both NASA and the Air Force. With the Series A funding, H3X plans to expand production and bring its next-generation, multi-sector class of integrated motor drives to the market (HPDM-350, HPDM-1500, and HPDM-2300). The HPDM-1500 and HPDM-2300 are megawatt-class machines that will significantly enhance the performance of electric aircraft through their high power density and fault tolerance. In some cases, aircraft range can be doubled by using H3X motors versus conventional solutions by freeing up weight for additional energy storage onboard. These megawatt-class machines will also unlock new market segments for H3X in both marine and heavy industry.

“H3X is focused on scaling innovative technologies that we believe could offer our customers effective solutions for electrifying legacy, multi-domain systems,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “Lockheed Martin’s continued investment in H3X underscores our dedication to advancing innovative solutions and expanding the defense industrial base to ensure the U.S and its allies remain ahead of emerging threats.”

“As an investor in frontier technologies, we were immediately impressed that H3X has solved the biggest engineering challenges to unlock major benefits for weight and volume sensitive applications,” said Philip Carson of Cubit Capital. “Notably, every customer spoke about how they want to work with this team above others. With strong traction today at the Department of Defense, we’re excited about how they can leverage that success to scale across industries.” 

Engineered, built, and tested at H3X headquarters in Denver, Colorado, these advanced integrated motor drives can scale in power from 30kW to 30MW and fill a large gap in the market for US-made, high power density motors and generators. H3X sees hybrid systems playing an increasingly larger role in the electrification transition of these industries because of the fuel burn reduction that can be realized without sacrificing mission range/endurance. This translates to lower operating costs as well as reduced emissions. In hybrid applications, H3X’s products can be used as either motors or generators without any hardware modifications required.

About H3X
Founded in 2020 by a team of engineers, H3X is an advanced technology and electric motor manufacturing company based in Denver, Colorado. Their team brings together driven minds from aerospace, automotive, and motorsports with deep knowledge in electric machines, power electronics, material science, and advanced manufacturing. They are heavily vertically integrated: designing, manufacturing, and testing their integrated motor drives under one roof at their 17,000 sq-ft headquarters facility. The mission of the company is to become the world’s leading supplier of advanced electric motors by 2030 to drive deep decarbonization in aviation, marine, and heavy industrial applications and unlock next-generation electrified defense technology to strengthen national security. For more information, visit http://www.h3x.tech/ and follow the company on LinkedIn.

Media Contact
[email protected]

SOURCE H3X

PITTSBURGH, Aug. 6, 2024 — Incline Equity Partners (“Incline”), a leading private equity firm dedicated to investing across the middle market, is pleased to announce the sale of ASP Global (“ASP” or the “Company”). ASP develops, sources and distributes consumable medical products for healthcare providers and distributors.

Based in Atlanta, GA, ASP leverages its global sourcing network to provide high quality products that are customized to meet the specific needs of health systems, labs, GPOs and distributors. The Company’s capabilities give customers control over the design and functionality of their products, helping them meet patient experience goals in a cost-effective manner.

“We are proud that ASP has more than doubled revenue since our investment in January 2020,” said Tom Ritchie, Partner at Incline. “Together, we strengthened the commercial team, driving organic growth through new hospital system wins and increasing wallet share with existing customers.”

“Our partnership with Incline has allowed us to complete four acquisitions, adding new product categories and expanding the breadth of the existing portfolio,” said Doug Shaver, CEO and President of ASP Global. “Our team has enjoyed the dynamic partnership with Incline, which has positioned us for continued growth.”

About Incline Equity Partners:

Incline Equity Partners is a leading private equity firm dedicated to investing across the middle market in services, value-added distribution and specialized light manufacturing companies. Incline is generally seeking growing companies with enterprise values of $25 – $750 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.

Disclaimer:

Incline Management, L.P. (“IMLP”) is registered with the U.S. Securities and Exchange Commission as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended. Registration as an investment adviser does not imply a certain level of skill or training.  IMLP provides investment advisory services only to privately offered funds. IMLP does not solicit or make its services available to the public or other advisory clients. This press release is intended solely to provide information regarding Incline’s potential capabilities for prospective portfolio companies, and is not an offer to sell to any person, or a solicitation from any person of an offer to buy, any securities. The statements contained herein are not statements of any IMLP client fund or investor and do not describe any experience with or endorsement of IMLP as an investment adviser by any such client or investor.

SOURCE Incline Equity Partners

Investment will allow NeuroTherapia to continue the development of an orally available treatment for Alzheimer’s disease.

CLEVELAND, Aug. 6, 2024 — NeuroTherapia, Inc., a clinical-stage company and Cleveland Clinic Innovations portfolio company focused on developing therapies for neurodegenerative diseases, announced today the first closing of its Series B financing with $12.3M in funding. The Series B round, led by Cleveland Clinic, includes all previous investors, Brain Trust Accelerator Fund II, Dolby Family Ventures and the Alzheimer’s Drug Discovery Foundation (ADDF) as well as new investors, Foundation for a Better World and CRUINT. NeuroTherapia is using this funding primarily for the continued clinical development of NTRX-07, an orally available cannabinoid receptor agonist, for the treatment of Alzheimer’s disease (AD). The company will continue to raise additional funds for its second close in six months, which will enable development of a recently discovered second generation molecule for a separate indication in which neuroinflammation plays a major role.

 “We were pleased with the Phase 1b trial results that demonstrated a trend toward cognitive benefits in Alzheimer’s disease and wanted to continue its development as rapidly as possible,” commented Joseph Rich, JD, MBA, Senior Director, Cleveland Clinic Innovations, and lead investor representative in this financing. “We believe that the Company’s planned Phase 2a trial has the potential to not only demonstrate the ability of NTRX-07 to inhibit neuroinflammation, but it could also lead to an improvement in biomarkers of cognitive function in patients with Alzheimer’s disease.”

Coincident with the financing, the company welcomes Adam Hoffman to its Board of Directors as an Observer. Mr. Hoffman is an experienced investor and entrepreneur, currently serving as President of Foundation for a Better World. Mr. Hoffman joins Mr. Reher, who will continue to serve as Chairman of the Board, Tony Giordano, Ph.D., NeuroTherapia’s President and CEO, and Joseph Rich and Jim Ellis from Cleveland Clinic and Akhil Saklecha, M.D., the CSO at Danaher, on the Board. In addition, Meriel Owen, Ph.D., Director of Search and Evaluation at the ADDF, serves as an Observer.

“We are extremely fortunate to have the continued support of our previous investors and to add new investors with significant AD experience,” said Dr. Giordano. “The Board has provided invaluable insights over the past 4+ years and I am excited to continue to work with them to advance NTRX-07 for treating AD.”

In addition to the Phase 2a trial, NeuroTherapia will use funding from this financing to study NTRX-07 in a preclinical model of ARIA (a significant side effect observed with administration of therapeutic monoclonal antibodies) in combination with therapeutic monoclonal antibodies. Based on its mechanism of action, NTRX-07 may reduce or prevent the ARIA side effect associated with monoclonal antibody treatment and/or improve the benefits of these therapies. A demonstration of activity in the preclinical ARIA study could lead to subsequent trials where NTRX-07 is used in combination with the therapeutic monoclonal antibodies to provide additional patient benefits. The company has also identified second-generation molecules that will be advanced for other indications associated with increased neuroinflammation, such as pain, Parkinson’s disease or ALS.

About NeuroTherapia

NeuroTherapia is a clinical-stage, privately held biotechnology company developing oral, small-molecule drugs to address neuro-inflammatory conditions of the central nervous system (CNS), including Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis, and other CNS conditions. There is an emerging consensus that neuroinflammation plays a significant role in CNS disease. NeuroTherapia is developing therapeutics that inhibit microglia cells, which are known to express proteins that drive inflammation in the CNS, without affecting the clearance of toxic beta amyloid. We believe this approach will result in improved neuronal function and survival. At NeuroTherapia, our mission is to change the course of the most debilitating and deadly CNS diseases that patients and their families face today. Additional information about NeuroTherapia can be found at www.neurotherapia.com.

About The Alzheimer’s Drug Discovery Foundation (ADDF)
Founded in 1998 by Leonard A. and Ronald S. Lauder, the Alzheimer’s Drug Discovery Foundation is dedicated to rapidly accelerating the discovery of drugs to prevent, treat and cure Alzheimer’s disease. The ADDF is the only public charity solely focused on funding the development of drugs for Alzheimer’s, employing a venture philanthropy model to support research in academia and the biotech industry. The ADDF’s leadership and contributions to the field have played a pivotal role in bringing the first Alzheimer’s PET scan (Amyvid^®) and blood test (PrecivityAD^®) to market, as well as fueling the current robust and diverse drug pipeline. Through the generosity of its donors, the ADDF has awarded more than $290 million to fund over 750 Alzheimer’s drug discovery programs, biomarker programs and clinical trials in 20 countries. To learn more, please visit: http://www.alzdiscovery.org/.

SOURCE NeuroTherapia, Inc.

CHICAGO, Aug. 6, 2024 — Professor Sarfaraz K. Niazi of the University of Illinois has published a research paper in the journal Pharmaceuticsⁱ and filed a Citizen Petition to advise the US FDA to remove its 2017 ban on the US Pharmacopeia (USP) from developing analytical specifications of biological drugs that can enable removal of side-by-side analytical assessment of biosimilars that will reduce the cost of biosimilar development and establish a global standard of quality.

Professor Niazi, a biosimilars pioneer with dozens of textbooks, hundreds of research papers, and a history of FDA-approved biosimilars, created a new class of “monograph” that will not be labeled as a monograph. Instead, it will be called Biological Product Specification (BPS), which the USP will develop using commercial lots of reference products, just as the developers do. It will also provide validated test methods, removing the need for side-by-side testing of biosimilar candidates with their reference product.

“Biosimilars have failed to fulfill their role as over the past 15 years, only 15 molecules have come up as biosimilars, while hundreds are available, and even then, the cost has not dropped as anticipated due to the high cost of hundreds of millions of dollars and years to develop biosimilars. The backbone of biosimilarity is the analytical comparison that requires creating testing methods, obtaining ten lots of reference products, and conducting extensive testing. This can be removed if the US Pharmacopeia accepts this task and provides release specifications and test methods. In this case, all a biosimilar development does is test a small number of lots for meeting this specification; I anticipate that the FDA will be responsive as it has always been to favor scientific arguments and enable the USP to provide this service,” said Professor Niazi in an interview with Forbes Magazine.

In supporting Professor Niazi’s proposition, the SVP of Global Biologicals at the USP, Dr. Fouad Atouf, said, “It is crucial to remove barriers to testing biosimilars through reference standards, analytical methods, or quality guidelines. USPⁱⁱ is prioritizing the development of state-of-the-art analytical tools to accelerate the advancement of biologics and biosimilars. This supports continuous innovation, reduces barriers to market access for quality medicines, and provides solutions available to stakeholders across the global supply chain. Because of our longstanding work with manufacturers and regulators to ensure the quality of medicines, USP is uniquely positioned and eager to partner with government agencies, including the FDA, to remove obstacles and build solutions to bring biosimilars to patients faster.”

Professor Niazi is now expecting the US FDA to take the lead and implement this pivotal change, dramatically changing the accessibility of biological drugs globally.

Contact: [email protected] +1-312-297-0000

ⁱ Niazi, S.K. Advice to the US FDA to Allow US Pharmacopeia to Create Biological Product Specifications (BPS) to Remove Side-by-Side Analytical Comparisons of Biosimilars with Reference Products. Pharmaceutics 2024, 16, 1013. https://doi.org/10.3390/pharmaceutics16081013
ⁱⁱ (https://www.usp.org/biologics/biosimilars)

SOURCE Professor Sarfaraz K. Niazi

Symbiotic Capital Brings Together a World-Class Team of Scientists, Financiers and Entrepreneurs to Provide Credit Partnerships to Compelling Life Science Companies Around the World

Symbiotic Capital Held Final Closing of its Inaugural Fund and Has Already Originated Hundreds of Millions of Dollars of Credit Facilities

LOS ANGELES, Aug. 6, 2024 — Symbiotic Capital (“Symbiotic”), a global life science credit firm, was officially unveiled today with more than $600 million in capital committed and targeted for investments and co-investments. Symbiotic Capital is affiliated with Bellco Capital (“Bellco”), the Los Angeles-based investment firm founded by biotechnology entrepreneur Dr. Arie Belldegrun. Symbiotic will structure and originate credit solutions to compelling life science companies to support scientific innovation across biotechnology, medical devices, diagnostics, tools, synthetic biology, and other healthcare subsectors.

“The life science industry continues to experience unprecedented productivity, innovation and scientific discovery as biotechnology and technology converge,” said Symbiotic Co-Chairman Dr. Arie Belldegrun. “As the cost to research, develop and commercialize innovative therapeutics, devices, tools and other products has increased substantially throughout the sector, credit has become an increasingly important financing tool for established healthcare enterprises. With Symbiotic Capital, we have designed a science-first credit platform to fuel those endeavors.”

“Over the past three decades, Bellco’s ecosystem has partnered with visionaries across life sciences to build and invest in compelling enterprises and develop labs and innovation campuses. We are incredibly excited to launch Symbiotic Capital and unlock our ecosystem’s resources, relationships, insights and ‘patients first’ mentality for borrowers throughout the healthcare industry,” said Josh Bradley, Chief Investment Officer of Bellco and Symbiotic Co-Founder.

Symbiotic’s integrated science team includes Dr. Franz Humer (former Chairman and CEO of Roche), Dr. Toby Cosgrove (former President and CEO of the Cleveland Clinic), UCLA scholars Dr. Jim Economou and Dr. Owen Witte, leading life science venture investors Amy Schulman and Helen Kim, and veteran life science company builder Joshua Kazam.

“Traditional financing institutions have struggled to meet the increasing capital needs for growing healthcare companies due to the complexity of the underlying science and competitive environment,” said Russell Goldsmith, Symbiotic Co-Chairman and the former Chairman and CEO of City National Bank. “With Symbiotic Capital, we’ve assembled a uniquely qualified, multi-disciplinary and experienced team that brings together the best of traditional credit underwriting with deep sector fundamentals and expertise.”

As life science companies fund ongoing research and development, capital expenditures and commercialization activities, credit financings can minimize the equity demands otherwise necessary for such operations and expansion.

“Credit is a more powerful tool when provided by a trusted partner that is aligned and able to support the borrower’s entire enterprise,” said Himani Bhalla, Symbiotic Chief Investment Officer and Co-Founder. “Symbiotic’s offerings build upon the traditional benefits of credit and provide partner-driven relationships to innovative life science companies around the world.”

About Symbiotic Capital (symbcap.com)

Symbiotic Capital is a life science credit firm that brings together decades of experience across life sciences, finance, and entrepreneurship. Our integration into a global life science ecosystem empowers us to provide lending solutions to fuel the growth of established life science companies around the world.

Life Science Credit. For Science, By Science.

For more information, please visit www.symbcap.com.

About Bellco Capital (bellcocapital.com)

Bellco Capital is an investment firm founded in 2003 by Drs. Rebecka Belldegrun, M.D. and Arie Belldegrun, M.D. Over the decades, the Bellco ecosystem has incubated and built leading life science companies, invested in transformational science and developed life science real estate across the globe, generating immense value creation in the process.

For more information, please visit www.bellcocapital.com.

Contacts

Dan Boyle

[email protected]

SOURCE Symbiotic Capital

Since launching just over a year ago, Climatize has successfully funded 11 solar energy projects totalling more than $4.6M from 950+ individual and institutional investors

SANTA CRUZ, Calif., Aug. 6, 2024 — Climatize, an SEC-registered impact investing platform that allows investors to fund renewable energy projects while earning up to 10% annually, announced today the close of a $1.75 million pre-seed round, led by Myriad Venture Partners. The round also includes investments from Climate Capital, Techstars, Responsibly Ventures, and Temerity Capital. Notable angel investors include the co-founder of GoFundMe, the former operating partner of Bessemer Ventures, and the head of Americas for a utility-scale renewable energy developer, Low Carbon.

Historically, small and medium-sized renewable energy projects across the US have been severely underfunded. Projects at this scale are not large enough for institutional capital, and they’re often too big for community lenders that aren’t familiar with renewable energy technology or economics. The S&P Global Clean Energy Technology Market Outlook projects that small-scale solar systems installed at or near the point of consumption will demand $1.5 trillion between 2022 – 2030, a figure that’s even larger than the utility scale demand of $1.3 trillion over the same period.

Climatize solves this by working with experienced renewable energy developers across states like North Carolina, Tennessee, Colorado, and Georgia to find high-quality projects and list them on the Climatize platform. Once these projects are on Climatize, any investor over the age of 18 that has a US bank account can fund these opportunities with as little as $10. Solar and other renewable energy technologies need to be deployed at a much faster rate for us to reach the ambitious carbon reduction targets established by the scientific community.

“Climatize was born from the 2019 Global Climate Strikes when we realized that traditional activism lacked tangible change,” said Will Wiseman, co-founder and CEO of Climatize. “We built the Climatize platform to enable anyone to become an active stakeholder in the energy transition by investing directly in renewable energy projects. We’re incredibly excited to continue deploying solar and other renewable technologies while giving investors an opportunity to increase their impact and diversify their portfolios.”

Over the past year, Climatize has made big strides towards its mission of creating the global network for climate-focused investors which will propel billions of dollars into renewable energy projects. This will help lower energy costs, electrify and decarbonize businesses, and mitigate the effects of climate change.

To date, Climatize’s platform has funded 11 projects across seven states thanks to the 950+ members who have invested over $4.6 million dollars. These investments have helped to install solar energy and battery storage for businesses such as farms, community centers, and houses of worship. These projects have resulted in 965 kW of new solar capacity and 1,357 kWh of energy storage added to the grid. Climatize’s platform has helped fund a number of projects for Ovanova, a solar developer based in the southeastern United States.

“Most banking institutions in rural communities have no idea how to loan capital against solar or other renewable energy assets, and as such many potentially lucrative projects aren’t built,” said Lester Crafton, CSO & co-founder of Ovanova. “Climatize has made it possible for rural small businesses and farmers to access capital that otherwise wouldn’t be available. Thanks to Climatize’s platform we were able to build several projects utilizing debt instead of our working capital.”

“We see a tremendous demand from businesses large and small for cleaner, cheaper and more reliable energy. Climatize is helping to achieve this by advancing renewable energy generation projects that are often underserved by traditional project financers,” said Tim Chiang, co-founder and partner at Myriad Venture Partners. “The future of clean energy is distributed, and Myriad is proud to support Climatize’s work to make clean energy financing more efficient, transparent & accessible for communities and businesses. We look forward to working closely with the Climatize team as they expand their offerings, partnerships, and ultimately, impact.”

Climatize expects to use these funds to expand their product and technology roadmap, improve the customer experience, develop partnerships with key stakeholders, and continue to attract top talent.

For more information about Climatize, please visit https://www.climatize.earth/.

About Climatize
Founded in 2023, Climatize is an SEC-registered impact investing platform that allows investors to fund renewable energy projects while earning up to 10% annually. Climatize works with dozens of renewable energy developers across the United States to source projects for its platform. Climatize’s investing platform allows any investor in the United States over the age of 18 to invest in renewable energy projects. Climatize’s co-founders, Will Wiseman and Alba Forns, are 2023 Forbes 30 under 30 recipients. Climatize was a finalist in Fast Company’s 2024 World Changing Ideas list for both the Company of the Year and Impact Investing categories. For more information about Climatize please visit https://www.climatize.earth/.

About Myriad Venture Partners
Myriad Venture Partners is an early-stage venture firm defining the future of business solutions. Investing in visionary AI, clean technology, and B2B software leaders, Myriad brings decades of expertise and a robust corporate and financial partnership network. By connecting entrepreneurs, corporate partners, industry leaders, and co-investors, Myriad is changing the ways businesses operate, compete, and create value.

SOURCE Climatize

VICTORIA, Seychelles, Aug. 6, 2024 — Newly formed investment company Bitrue Ventures, a satellite organization of the cryptocurrency exchange Bitrue, has today announced the first of their public partnerships, and successful completion of investment into Redacted and the RDAC coin.

Redacted is a high-potential startup working in the intersection between web3 and entertainment, with a focus on integrated gaming systems. Their RDAC coin acts as a utility token within the Redacted entertainment network.

In addition to funding provided by Bitrue Ventures, Redacted has secured over $10 million in funding from a range of investors, including Polygon Ventures, Spartan Group, Animoca Brands, Saison Capital, and numerous other investment funds.

“The breadth of investors into Redacted underscores both the quality of their fundamentals, as well as the sheer enthusiasm that investors have for promising web3 companies.” said Ryan Chan, Investor Principal at Bitrue Ventures. “Bitrue Ventures has supreme confidence in Redacted’s vision and potential, and fully believe that they are able to carve out a successful place for themselves in the $300 billion dollar gaming industry.”

RDAC already has a significant community presence, with heavy promotions underway from some of the largest influencers in the GameFi and NFT spaces. Their leadership team consists of veterans from high profile companies from a range of industries, including Tesla, Bank of America, and Kraken. They have positioned themselves to be a leading light in the world of web3 entertainment, and are set to expand their ecosystem, innovate, and engage a growing audience through strategic collaborations and advancements.

Bitrue Ventures was established in response to an elevated influx of capital into the industry from institutional investors and high net worth individuals, coinciding with a renewed interest towards web3 technologies from the greater public sparked by the ongoing AI revolution. Investor demand for cryptocurrency projects is increasing rapidly, and there is a market opportunity for a highly trained and specialized investment fund to identify and nurture promising start-ups. Bitrue Ventures has identified several key growth areas for the next market cycle, including GameFi, RWA, DePIN and AI, and anticipates completing more partnerships within these verticals.

More details about Bitrue Ventures activities with Redacted will be announced shortly. In addition, Bitrue Ventures will be announcing more partnership announcements within the upcoming months. Any young web3 companies that are seeking investment from Bitrue Ventures are invited to reach out to the team by sending their introductory materials to [email protected].

SOURCE Bitrue

BOSTON, Aug. 5, 2024 — NanoHive Medical, a leader in 3D-printed titanium spinal interbody fusion devices, announces a $7M Series C Financing to capitalize the company’s rapid growth and a priority on company-building to profitability. Outcome Capital served as Strategic and Financial Advisor to NanoHive.

The primary use-of-proceeds include: (i) expanding the U.S. commercial organization; (ii) expanding the company’s innovative Hive™ portfolio of Soft Titanium^® spinal interbody fusion devices by way of product line-extensions, product launches, and “smart” sensor implant delivery research and development; (iii) entering select international markets; and (iv) expanding strategic partnerships. NanoHive’s CEO, Patrick O’Donnell, states: “The company is quite fortunate to have a group of investors that strongly support our team and technology who also bring a distinguished track record of building companies to and through profitability. The entire organization is excited to further execute on the company’s invigorated strategy aimed at broadening our Hive™ Soft Titanium^® portfolio’s successful clinical experiences with more patients and surgeons into more markets.”

Concurrent to the Series C Financing, the company is pleased to welcome Greg Hoffman and David Scott to the company’s Managing Directors Board. Mr. Hoffman is the Managing Partner of Hoffco Holdings and founding member of Portfolio Group. Mr. Scott was the cofounder and CEO of Xator Corporation and leads his family office that has investments in a broad range of industries. Both Mr. Hoffman and Mr. Scott are successful company-builders with significant operating expertise as well as investors in the company’s Series A, B, and C financing rounds. Mr. Hoffman and Mr. Scott will join current Managing Directors Sami El-Saden, Ian Helmar (Chief Technology Officer), and Patrick O’Donnell (Chief Executive Officer).

About NanoHive Medical LLC
NanoHive Medical is a pioneer and leading innovator in 3D printed spinal interbody fusion implants and instrumentation. The company’s proprietary, biomimetic Soft Titanium^® technology clearly distinguishes their products in the $2.2B spinal interbody fusion device market. The Hive^™ portfolio of interbody fusion devices provide surgeons and their patients ideal biomechanical elastic modulus properties, clear and precise diagnostic imaging capability, osteoblast cell attraction and integration – all features that lead to consistently strong fusion constructs and efficacious clinical experiences. NanoHive Medical is based in Woburn, Massachusetts U.S.A. Learn more at www.NanoHive.com.

Contact: Patrick O’Donnell, CEO & President, NanoHive Medical LLC, [email protected]

Website: www.nanohive.com

NanoHive Medical, LLC,12 Gill Street, Suite 4500 ,Woburn, MA 01801, 844-943-5433

SOURCE NanoHive Medical

The Bravo Venture Fellows were handpicked for their potential to achieve global scale and drive lasting local economic impact in Puerto Rico. In addition to equity funding, Fellows will receive strategic networking opportunities, enhanced visibility within the global investor community, and one-on-one mentorship from industry leaders associated with the Bravo Family Foundation and private equity firm Thoma Bravo.

Candidacy for the Bravo Venture Fellowship was highly competitive, drawing from alumni of the Bravo Family Foundation’s long-running Rising Entrepreneurs Program accelerator as well as standout founders within the broader Puerto Rican entrepreneurial ecosystem. Selection criteria focused on the company’s quality of business model, along with its scalability potential and commitment to fostering economic growth and job creation within local communities in Puerto Rico.

“Puerto Rico is a breeding ground for some of the world’s most ambitious entrepreneurial talent, but these founders have historically faced significant barriers in accessing the capital and connections necessary to scale globally,” said Orlando Bravo, Chairman and Co-founder of the Bravo Family Foundation and a Founder and Managing Partner at Thoma Bravo. “We launched the Bravo Venture Fellowship to be the partner these founders have been missing, providing them with the support and resources they need to scale their operations and broaden their impact.”

This year’s Bravo Venture Fellows are:

• Emmanuel Oquendo, the Co-Founder and CEO of BrainHi, an AI-enabled virtual assistant for healthcare organizations looking to provide fully digital patient experiences. BrainHi helps businesses rescue missed calls, streamline their order and appointment operations, and grow revenue. It was the first Puerto Rican startup to go through San Francisco-based accelerator program Y Combinator in 2018.
• Juan Parra, the Co-Founder and CEO of Skootel, a micro-mobility company providing eco-friendly transportation alternatives to users in Puerto Rico and the greater Caribbean. Skootel is the first Puerto Rican company to enable by-the-minute rentals of alternative transportation vehicles via mobile application.

Blanca Santos, Executive Director of the Bravo Family Foundation, added, “We are thrilled to support this extraordinary group of entrepreneurs. Their innovative products and services are already a testament to the bright economic future of Puerto Rico, and we’re looking forward to contributing to their progress through the Bravo Venture Fellowship and beyond.”

The new initiative comes on the heels of more than five years dedicated to growing Puerto Rico’s nascent startup scene; since 2019, the Bravo Family Foundation’s philanthropic accelerator, the Rising Entrepreneurs Program, has supported more than 120 founders building 60 companies in key sectors such as software and technology, consumer goods, and healthcare.

About The Bravo Family Foundation
The Bravo Family Foundation is a nonprofit organization established in 2017 by Orlando and Katy Bravo, with the mission of fostering principles of social justice in Puerto Rico, thereby empowering underserved communities to have equal access to socioeconomic development opportunities. Orlando Bravo, who is from Puerto Rico, is a Founder and Managing Partner of Thoma Bravo, one of the largest private equity firms in the world.

As a Bravo Family Foundation-funded program, the Bravo Venture Fellowship complies with all relevant U.S. Internal Revenue Service (IRS) rules and regulations regarding investment activities for charitable foundations.

SOURCE Bravo Family Foundation