Investment will support Strider’s rapid revenue growth and accelerate development of its AI-driven strategic intelligence platform; will also enable the company to fuel international expansion and broaden its reach in the public sector
SALT LAKE CITY, Sept. 12, 2024 — Strider Technologies, Inc. the leading provider of strategic intelligence, announced today that it has closed $55 million in Series C funding. With this funding, Strider will continue advancing its AI-driven capabilities into its integrated global intelligence platform, expand operations to new geographies in Europe and Asia, and more aggressively address the public sector market.
“Strider has created a new market category with its groundbreaking global intelligence platform, which empowers organizations to proactively address nation-state threats,” said Blake Modersitzki, Partner at Pelion Venture Partners. “They are solving a massive problem in a massive market, and we are excited to be in business with such visionary founders, building a world-changing company and also doing immense good along the way.”
“At Strider, our mission is to protect the ideals and innovations of the free world,” said Greg Levesque, CEO & Co-founder of Strider. “Organizations across industry, government, and academia are on the frontlines of this new global geopolitical battlefield, under constant attack from nation-state adversaries. This investment led by Pelion will accelerate Strider’s ability to scale our platform and arm more organizations around the world with the strategic intelligence they need to compete.”
The world is in a new era of global intelligence. The traditional nation-state vs nation-state approach is gone as superpowers battle for geopolitical, economic, technological, and data dominance. China, Russia, Iran, and other adversaries are embracing a whole-of-society approach that puts private companies and leading academic institutions on the frontlines of this new conflict.
Fortune 500 companies, government agencies, and the world’s most prominent research institutions are subject to persistent intelligence, talent recruitment, and supply chain operations from nation-state actors.
Strider’s integrated global intelligence platform leverages AI, open source data, and proprietary methodologies. It enables organizations to proactively secure critical assets and inform decision-making so that they can better compete in the global economy.
“Strider is advancing the state-of-the-art in global intelligence, enabling organizations working with advanced technologies to go on offense to secure their innovation,” said Alex Scherbakovsky, General Partner at AVP. “Industry, government, and research institutions have been searching for ways to proactively mitigate state-sponsored threats to technology, talent, and supply networks. We are excited to support Strider’s efforts to develop new capabilities and meet the global demand for its intelligence platform. As a transatlantic investment firm, we are excited to support Strider’s international expansion and help Strider achieve its mission of enabling organizations and governments to secure their innovation.”
Since launching in May 2019, Strider has secured $110 million in venture capital funding, grown to nearly 200 employees, and secured multiple patents, while establishing its position as a first mover and category creator.
About Strider Strider is the leading strategic intelligence company empowering organizations to secure and advance their technology and innovation. Leveraging AI technology alongside proprietary methodologies, Strider transforms publicly available data into critical insights. This increased intelligence enables organizations to proactively address and respond to risks associated with state-sponsored intellectual property theft, targeted talent acquisition, and supply chain vulnerabilities. Strider has operations in 10 countries across the globe with offices in Salt Lake City, Washington, DC, Tokyo, and London.
About Pelion Venture Partners Originally formed in 1986 as Utah Ventures, Pelion Venture Partners has raised over $2 billion across its family of funds. Focused primarily on early stage technology companies, some of Pelion’s more notable investments includeCloudflare,Divvy,Integral Ad Science,Weave, LVT, Kapital, andRedo among others. For more information about Pelion, please visit www.pelionvp.com.
About AVP AVP is a global venture capital firm specializing in high-growth, technology-enabled companies, managing more than $2 billion in assets across four investment strategies: Venture, Growth, Late Growth, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Growth stages in the US and Europe. With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth. For more information about AVP, please visit www.axavp.com.
Contact: Sébastien Loubry, Partner Business development ([email protected])
SOURCE Strider Technologies, Inc.
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Doubling Down on Innovation: Increased Commitment from GEM to Propel Events.com’s Global Reach and Technological Advancements
LA JOLLA, Calif. and NEW YORK, Sept. 12, 2024 — Events.com (the “Company”), an industry-leading event management platform, today announced the expansion of its Share Subscription Facility (“SSF”) with Global Emerging Markets (“GEM”), to $200 million. This increase by GEM from their initial commitment of $100 million reflects a significant endorsement of Events.com’s trajectory and the Company’s capacity to redefine the Events industry through advanced technology.
GEM logo
“The increased commitment from GEM is a milestone for us,” said Mitch Thrower, Co-founder and CEO of Events.com. “This funding will empower us to help more event organizers worldwide manage, market and monetize their event and help people around the world discover, interact and transact with unforgettable experiences — while gathering actionable data and revenue at scale.”
“While innovative engineering is essential, achieving market leadership requires ample resources.” said Stephen Partridge, President and COO of Events.com “This doubling of GEM’s commitment to $200M is a key to our buy, build and partner growth strategy, but even more importantly will help amplify our brand and is a big vote of confidence.”
“The increased GEM facility provides Events.com with added dry powder that will allow them to capitalize on what we believe to be a large acquisition opportunity upon the expected closing of our transaction in Q1,” said Jeff Tuder, CEO of Concord. “We appreciate GEM’s continued support as we proceed toward this milestone.”
Events.com recently announced its signing of a definitive agreement to merge with Concord Acquisition Corp II (NYSE: CNDA) (“Concord“), marking a significant milestone in Events.com’s path to become a publicly traded company. The proposed business combination with Concord is valued at a pre-money equity value of $314 million, with an implied pro forma enterprise value of $399 million. The proposed business combination (the “Proposed Business Combination”) is subject to customary closing conditions, including regulatory and stockholder approvals. The combined public company (“PubCo”) is expected to be named “Events.com” and to list its common stock under the new ticker symbol “RSVP,” subject to the approval of its listing application.
Additional information about the Proposed Business Combination, including a copy of the Agreement and Plan of Merger, by and among CNDA, Concord Merger Sub, Inc., and the Company, dated as of August 26, 2024 (the “Merger Agreement”), has been provided in a Current Report on Form 8-K filed by CNDA with the U.S. Securities and Exchange Commission (the “SEC”) and available at www.sec.gov.
The Events.com investor presentation can be found here. The announcement of the merger can be found here.
About Events.com Events.com powers a two-sided marketplace and platform that helps passionate individuals create, promote, discover, and enjoy events. Events.com’s platform helps event organizers seamlessly execute their events and allows event goers to discover, interact, and transact with the events they love. The Company offers a robust ecosystem that supports millions of event creators worldwide, catering to various interests. From the prestigious All-In Summit, the world’s leading podcast for business, technology, and investing, to the vibrant 100,000-person Renaissance Festival in Florida, the exclusive Club Getaway featured on Bravo, the event calendar on NewYork.com, the transformative Archangel Summit, and movie experiences at the iconic Mayfair Theatre in Ottawa—Events.com technology is the driving force behind unforgettable moments worldwide.
For additional information, please visit events.com
Create your event at Events.com – Online Event Registration Software: https://events.com
About GEM: Global Emerging Markets (GEM) is a $3.4 billion alternative investment group with operations in 72 countries. GEM’s investment vehicles provide the group and its investors with a diverse portfolio of asset classes that span the global private investing spectrum, including Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs), and select venture investments.
About Concord Acquisition Corp II (CNDA) Concord Acquisition Corp II is a special purpose acquisition company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in the financial services or financial technology industries. It is sponsored by Concord Sponsor Group II LLC, an entity affiliated with Atlas Merchant Capital LLC, an investment firm that offers debt and equity investment strategies, seeking long-term value through differentiated expertise in financial services and credit markets. For additional information, please visit cnda.concordacquisitioncorp.com
About Atlas Merchant Capital Atlas Merchant Capital LLC, founded in 2013 by Bob Diamond and David Schamis, is an alternative asset management company with approximately $1.3 billion in assets under management as of December 31, 2023, and over $3 billion in capital raised through its fund vehicles and co-investments. Atlas invests globally in compelling opportunities, particularly within the financial services sector, through a diverse range of funds, including private equity, credit opportunities, and SPAC-focused public equity funds. The firm’s investment strategy is rooted in a long-term, partnership-based approach, leveraging its deep operating and technical expertise. Atlas’s executive team brings decades of experience from top-tier global financial institutions, including Barclays Capital, Cerberus Capital Management, Citigroup, J.C. Flowers & Co, and Fortress Investment Group. For additional information, please visit https://www.atlasmerchantcapital.com.
Art and Logos You may download the logos from Events.com here. You may download the logos from Concord and Atlas here.
Forward-Looking Statements Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, CNDA’s, Events.com’s, or their respective management teams’ expectations concerning the outlook for their or Events.com’s business, productivity, plans, and goals for future operational improvements and capital investments, operational performance, future market conditions, or economic performance and developments in the capital and credit markets and expected future financial performance, including expected net proceeds, expected additional funding, the percentage of redemptions of CNDA’s public stockholders, growth prospects and outlook of Events.com’s operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of Events.com’s projects, as well as any information concerning possible or assumed future results of operations of Events.com. Forward-looking statements also include statements regarding the expected benefits of the Proposed Business Combination. The forward-looking statements are based on the current expectations of the respective management teams of Events.com and CNDA, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the Proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of CNDA’s securities; (ii) the risk that the Proposed Business Combination may not be completed by CNDA’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by CNDA; (iii) the failure to satisfy the conditions to the consummation of the Proposed Business Combination, including the adoption of the Merger Agreement by the stockholders of CNDA and Events.com and the receipt of certain regulatory approvals; (iv) market risks; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vi) the effect of the announcement or pendency of the Proposed Business Combination on Events.com’s business relationships, performance, and business generally; (vii) risks that the Proposed Business Combination disrupts current plans of Events.com and potential difficulties in its employee retention as a result of the Proposed Business Combination; (viii) the outcome of any legal proceedings that may be instituted against Events.com or CNDA related to the Merger Agreement or the Proposed Business Combination; (ix) failure to realize the anticipated benefits of the Proposed Business Combination; (x) the inability to maintain the listing of CNDA’s securities or to meet listing requirements and maintain the listing of PubCo’s securities on the NYSE American; (xi) the risk that the price of PubCo’s securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which Events.com plans to operate, variations in performance across competitors, changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business, and changes in the combined capital structure; (xii) the inability to implement business plans, forecasts, and other expectations after the completion of the Proposed Business Combination, identify and realize additional opportunities, and manage its growth and expanding operations; (xiii) the risk that Events.com may not be able to successfully develop its assets, including expanding the product offerings and implementing the acquisition plan (xiv) the risk that Events.com will be unable to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (xv) political and social risks of operating in the U.S. and other countries; (xvi) the operational hazards and risks that Events.com faces; and (xvii) the risk that additional financing in connection with the Proposed Business Combination may not be raised on favorable terms. The foregoing list is not exhaustive, and there may be additional risks that neither CNDA nor Events.com presently knows or that CNDA and Events.com currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the “Risk Factors” section of CNDA’s Annual Report on Form 10-K for the year ended December, 31, 2023, which was filed with the SEC on March 1, 2024, the risks to be described in the registration statement on Form S-4 to be filed by CNDA with the SEC in connection with the Proposed Business Combination (the “Registration Statement”), which will include a preliminary proxy statement/prospectus, and those discussed and identified in filings made with the SEC by CNDA and PubCo from time to time. Events.com and CNDA caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. None of Events.com, CNDA, or PubCo undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Events.com, CNDA, or PubCo will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the Proposed Business Combination, in CNDA’s or PubCo’s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.
Important Information for Investors and Shareholders In connection with the Proposed Business Combination, CNDA intends to file with the SEC the Registration Statement, which will include a prospectus with respect to PubCo’s securities to be issued in connection with the Proposed Business Combination and a proxy statement to be distributed to holders of CNDA’s common stock in connection with CNDA’s solicitation of proxies for the vote by CNDA’s stockholders with respect to the Proposed Business Combination and other matters to be described in the Registration Statement (the “Proxy Statement”). After the SEC declares the Registration Statement effective, CNDA plans to file the definitive Proxy Statement with the SEC and to mail copies to stockholders of CNDA as of a record date to be established for voting on the Proposed Business Combination. This press release does not contain all the information that should be considered concerning the Proposed Business Combination and is not a substitute for the Registration Statement, Proxy Statement or for any other document that PubCo or CNDA may file with the SEC. Before making any investment or voting decision, investors and security holders of CNDA and Events.com are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Proposed Business Combination as they become available because they will contain important information about, Events.com, CNDA, PubCo and the Proposed Business Combination.
Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by PubCo and CNDA through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by PubCo and CNDA may be obtained free of charge from CNDA’s website at cnda.concordacquisitioncorp.com or by directing a request to Jeff Tuder, Chief Executive Office, 477 Madison Avenue New York, New York 10022; Tel: (212) 883-4330. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation Events.com, CNDA, PubCo and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from CNDA’s stockholders in connection with the Proposed Business Combination. For more information about the names, affiliations and interests of CNDA’s directors and executive officers, please refer to CNDA’s annual report on Form 10-K filed with the SEC on March 1, 2024, and Registration Statement, Proxy Statement and other relevant materials filed with the SEC in connection with the Proposed Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of CNDA’s stockholders generally, will be included in the Registration Statement and the Proxy Statement, when they become available. Stockholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement carefully, when they become available, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
No Offer or Solicitation This document shall not constitute a “solicitation” as defined in Section 14 of the Securities Exchange Act of 1934, as amended. This document shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Proposed Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.
SOURCE Events.com
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TEMPE, Ariz., Sept. 12, 2024 — GT Medical Technologies, Inc. (“GT MedTech” or the “Company”), a medical device company with a corporate purpose of improving the lives of patients with brain tumors, today announced it has secured a $35 million venture loan facility, of which $15 million has been initially funded from Horizon Technology Finance Corporation (NASDAQ: HRZN), an affiliate of Monroe Capital.
Mr. Langoe, CEO and Mr. Yadav, CFO are delighted to partner with Horizon Technology Finance Corporation. This funding will help execute strategic commercial and clinical expansion plans for GammaTile®.
The Company will use the loan proceeds to execute strategic commercial and clinical expansion plans for GammaTile®. These initiatives will drive key corporate objectives that will support access to care, help patients diagnosed with high-grade gliomas, brain metastases, and aggressive meningiomas, and expand GammaTile utilization.
“We are delighted to have Horizon’s support as we expand the reach of our innovative targeted radiation solution,” said Per Langoe, Chief Executive Officer of GT MedTech. “Our partnership with Horizon Technology Finance will allow us to continue our strategic commercial and market expansion initiatives, helping bring GammaTile to more patients in need.”
GammaTile is a bioresorbable collagen tile embedded with Cesium-131 seeds, a radioactive isotope that delivers a high dose of radiation directly to the tumor cavity, helping to reduce tumor recurrence. Unlike external beam radiation therapy, GammaTile uses surgically targeted radiation therapy that minimizes excess radiation exposure and potential damage to healthy tissue.
The Company is already backed by top-tier investors, including MVM Partners, Glide Healthcare Partners, MedTech Venture Partners and BlueStone Venture Partners.
“This partnership with Horizon allows us to continue to invest more of our resources into GammaTile and further the company’s expansion within the brain tumor space,” said Sandeep Yadav, Chief Financial Officer at GT MedTech. “We continue to be driven by the limitations of the current standard of care treatments and will use this funding to expand our commercial teams in order to reach more patients in need of this treatment throughout the country.”
About GT Medical Technologies, Inc.
Driven to raise the standard of care and improve the lives of patients with brain tumors, a team of brain tumor specialists formed GT Medical Technologies. GammaTile® is FDA-cleared as a treatment for patients with newly diagnosed malignant intracranial neoplasms and patients with recurrent intracranial neoplasms. Since its full market release in the United States in March 2020, GammaTile has been offered in over 100 leading institutions, with more centers being added each month. For more information, visit www.gtmedtech.com and follow @GammaTile on Twitter and LinkedIn.
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN), externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio’s return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located throughout the U.S. Monroe Capital is a $19.5 billion asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, opportunistic, structured credit, real estate and equity. To learn more, please visit horizontechfinance.com.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding our expectations, beliefs, or projections. These forward-looking statements are based on management’s current expectations and involve significant risks and uncertainties that may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. Such factors and risks which could cause actual results to differ materially from those in the forward-looking statements include, without limitation: regulatory risks such as changing CMS, NRC, FDA rules and regulations impacting clearance and/or reimbursement of indicated products; supply chain disruptions; clinical trial and investigation risks including adverse patient outcomes such as death and other severe complications; cost of capital and inflationary risk of raw materials; legal and regulatory risks associated with potential mergers, acquisitions, investments in joint ventures; other global and regulatory uncertainties. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Fundraisebrings lead product, TriVerity™ Test, closer to commercialization following recent submission to FDA
SUNNYVALE, Calif., Sept. 12, 2024 — Inflammatix, a pioneering molecular diagnostics company, announced today the closing of $57 million in Series E financing, led by Khosla Ventures and Think.Health. The funds will support regulatory filing and early commercialization of the company’s lead product, the TriVerity™ Acute Infection and Sepsis Test (TriVerity).
TriVerity is a blood test that is intended to fill a critical need in the emergency department (ED) setting. Each year, 20 million people arrive at the hospital suspected of having an acute infection or sepsis. Recent company-sponsored clinical studies1,2 validate previous research3-5 suggesting that physician assessment and vital-signs-based scoring underestimate severity in up to half of patients suspected of acute infection or sepsis. With an annual incidence of 2.7 million cases and an annual mortality rate of 350,0006, sepsis is a leading cause of death in U.S. hospitals and costs the Centers for Medicare and Medicaid Services (CMS) $53 billion each year, making it the most costly diagnosis among Medicare beneficiaries.7
“The newly raised funds will help us to expand our commercial team and plan clinical interventional and health economic studies as we await FDA clearance over the coming months,” said Dr. Timothy Sweeney, CEO and co-founder of Inflammatix. “TriVerity is bringing the promise of machine learning and AI to infection and sepsis care. We hope to help hospitals improve their performance in terms of complying with sepsis detection and treatment protocols and optimizing patient throughput. We greatly appreciate the strong investor confidence in TriVerity and are excited to be very close to offering this novel test to physicians.”
In addition to the leading investors Khosla Ventures and Think.Health, the Inflammatix Series E funding round included participation from Northpond Ventures, D1 Capital Partners, Iberis Capital, Vesalius BioCapital, OSF Healthcare, RAW Ventures, and others. The funding round brings Inflammatix’s total private capital raised to more than $200 million, in addition to more than $50 million in grants and contracts from various government agencies and foundations.
Novel diagnostic approach to spur earlier detection of infection and sepsis
TriVerity, a blood test performed on Inflammatix’s novel Myrna™ Instrument, is uniquely designed to simultaneously determine whether an infection is present, and how likely a patient will need ICU-level interventions. Getting to an accurate diagnosis faster would not only save lives but would also dramatically improve hospital efficiency as well as health system resource allocation. Earlier and more accurate diagnoses may also help hospitals comply with the CMS SEP-1 Bundle, a value-based payments quality measure intended to ensure rapid sepsis detection and treatment.
“Despite incremental improvements in patient outcomes, the death toll from sepsis remains disproportionately high among vulnerable populations,” said Alex Morgan, partner at Khosla Ventures. “The challenge is that existing diagnostics are not able to detect sepsis early enough to trigger timely intervention, and by the time noticeable clinical symptoms appear, it’s often too late. TriVerity takes a novel approach by detecting the RNA changes that occur in immune cells prior to the manifestation of disease, enabling clinicians to respond faster and sometimes before physiological symptoms are even present. This is a step-change in life-saving care that physicians have been wanting for decades.”
After receiving Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in November 2023 and completing the SEPSIS-SHIELD study [NCT04094818], Inflammatix recently submitted a regulatory packet to the FDA for the TriVerity Test. The company hopes to receive FDA clearance later this year.
About the TriVerity™Acute Infection and Sepsis Test
The TriVerity Acute Infection and Sepsis Test (TriVerity), Inflammatix’s lead product, is performed on the Myrna™ Instrument, the company’s proprietary, cartridge-based, benchtop analyzer. TriVerity is a blood test that measures 29 messenger RNAs (mRNAs) to rapidly “read” the body’s immune response to infection using machine learning-derived algorithms. The test is designed to inform on the two “axes” of sepsis — presence of infection and risk of progression to severe illness — in adult patients with suspected acute infection or sepsis in the emergency department setting. TriVerity thus aims to help physicians to confidently make treatment decisions, including selection of antimicrobial therapy, administering additional diagnostic testing, and whether to admit or discharge the patient.
The Myrna Instrument is capable of multiplex sample-to-answer quantitation of mRNAs in about 30 minutes. With its less than one-minute operator hands-on time and simple maintenance, the Myrna Instrument is designed for ease of use and low resource requirements.
The TriVerity Acute Infection and Sepsis Test is not for sale. It is currently pending FDA clearance and has not received marketing approval or clearance from regulatory authorities in any jurisdiction.
About Inflammatix Inflammatix, Inc., a pioneering molecular diagnostics company headquartered in Sunnyvale, California, USA, is developing novel diagnostics that rapidly read a patient’s immune system to improve patient care and reduce major public health burdens. The Inflammatix tests will be developed to run on the company’s sample-to-answer isothermal instrument platform, enabling the power of precision medicine at the point of care. The company’s funders include Khosla Ventures, Northpond Ventures, Think.Health Ventures, D1 Capital, Iberis Capital, and Vesalius BioCapital. For more information, please visit www.inflammatix.com and follow the company on LinkedIn and X (formerly Twitter) at @Inflammatix_Inc).
Inflammatix product development has been funded in part with Federal funds from the Department of Health and Human Services; Office of the Assistant Secretary for Preparedness and Response; Biomedical Advanced Research and Development Authority, under Contract Nos. 75A50119C00034 and 75A50119C00044.
TriVerity, Myrna, and Inflammatix are trademarks of Inflammatix, Inc. in the U.S. and other countries and regions.
References
Whitfield N, Michelson EA, Steingrub J, et al. Host response severity score for ICU level care prediction in emergency patients with suspected sepsis. (2024), SAEM24 Abstracts. Acad Emerg Med, 31: 8-401. https://doi.org/10.1111/acem.14906
Data on file, Inflammatix, Inc.
Askim A, Moser F, Gustad LT, et al. Poor performance of quick-SOFA (qSOFA) score in predicting severe sepsis and mortality – a prospective study of patients admitted with infection to the emergency department. Scand J Trauma Resusc Emerg Med. 2017;25(1):56. doi: 10.1186/s13049-017-0399-4.
Tiwari AT, Jamshed N, Sahu AK, et al. Performance of qSOFA score as a screening tool for sepsis in the emergency department. J Emerg Trauma Shock. 2023;16(1):3-7. doi: 10.4103/jets.jets_99_22.
Freund Y, Lemachatti N, Krastinova E, et al. Prognostic accuracy of Sepsis-3 criteria for in-hospital mortality among patients with suspected infection presenting to the emergency department. JAMA. 2017;317(3):301-308. doi: 10.1001/jama.2016.20329.
RALEIGH, N.C., Sept. 12, 2024 — 10 Federal, a leading innovator in the self-storage industry, is proud to announce key milestones that highlight the company’s continued growth and leadership in the sector.
10 Federal Raises $25M in First Closing for Opportunistic Offering, Expands Curbside Rentals and Strategic Acquisitions
10 Federal Raises $25M in First Closing for Opportunistic Offering, Expands Curbside Rentals and Strategic Acquisitions
In the first closing of its Opportunistic Offering, 10 Federal raised $25 million in equity, equity commitments, and mezz equity during the third quarter of 2024. The funding was led by Essentia Capital Partners, an investment advisory firm serving HNWIs and RIAs. This offering focuses on ground-up development deals, primarily targeting multi-story, Class-A properties. The funds from this first closing will be allocated to two prime seeded assets: one in the rapidly growing Dripping Springs, TX, and the other in the dynamic market of Charlotte, NC.
“We are thrilled to have raised $25 million in the first closing of our opportunistic offering. This achievement reflects the strong confidence our investors have in both our track record and our data-driven approach to identifying markets and opportunities where we can maximize returns. By leveraging data science, we continue to make informed, strategic decisions that position us for long-term growth,” said Brad Minsley, Co-Founder of 10 Federal.
“We’re proud to partner with an innovator like 10 Federal to offer our investors access to compelling investment opportunities,” said David Scacco, Essentia cofounder & managing partner.
To enhance customer convenience, 10 Federal has rolled out an innovative curbside rental option across its portfolio, enabling customers to rent storage units directly from their vehicles by scanning a QR code at designated parking spots. This initiative has seen strong adoption and positive feedback from customers who appreciate the added convenience and efficiency. The rollout not only addresses the evolving preferences of today’s consumers but also sets a new standard for service in the self-storage industry.
In August, 10 Federal acquired four properties in Carrollton, GA, for its fourth value-add offering. These acquisitions are in an existing 10 Federal market where the company has already achieved strong success, allowing it to capitalize on established operational efficiencies and economies of scale. Located just west of Atlanta, the Carrollton submarket remains a strategic focus, further solidifying 10 Federal’s presence in the region.
“Our recent milestones reflect our strategic vision and the exceptional capabilities of our team,” said Andrew Capranos, President of 10 Federal. “By implementing innovative solutions like curbside rentals and making strategic acquisitions, we are positioning 10 Federal to lead the industry while delivering value to both our customers and investors.”
About 10 Federal: 10 Federal stands as a leading innovator in the self-storage industry. As one of the largest owners and operators of fully automated facilities in the country, 10 Federal harnesses advanced technology and data analytics to deliver superior risk-adjusted returns.
Huma Finance is transforming payment financing by utilizing real-world assets to deliver instant and borderless liquidity, enabling faster, more accessible, and more efficient financial solutions.
SAN FRANCISCO, Sept. 12, 2024 — Huma, the first Payment Financing (PayFi) network, announced today that it has raised $38 million in funding. Distributed Global led the equity round, with significant participation from Hashkey Capital, Folius Ventures, the Stellar Development Foundation, and TIBAS Ventures, CVC arm of İşbank, the largest private bank in Turkiye. Part of this raise came as investments into high-yield real world assets (RWA) assets on platform.
Huma Finance & Arf.
The vast majority of businesses and people around the world depend on a form of payment financing. Credit cards alone finance $16T in merchant payments globally. Trade finance facilitates $10 trillion in B2B payments. One in every six families depends on remittances—money sent back home across the borders—yet even that system depends on trillions of dollars being locked in pre-funding accounts. The list goes on. While the demand for payment financing increases daily, creating an urgent need for more innovative solutions, traditional financial institutions are unable—or unwilling—to meet this need, widening the liquidity gap with each passing day. Payment financing is so ingrained in every part of our lives that, without it, the entire economy would stop growing.
PayFi aims to address this giant liquidity gap by bringing trillions of dollars of real world payment volume over to blockchains and stablecoins. Leveraging the core strengths of blockchain—global money movement in seconds through programmable money—PayFi also enables new real-world use-cases that were previously impossible. Huma has built the first ever PayFi network with all of these use cases in mind, adopting an open, modular and decentralized approach to empower interoperable solutions across participants. By bringing the best of RWA, Payments, and DeFi together, Huma is creating a network that is far more efficient and accessible than traditional alternatives.
“While designing Huma, we often asked ourselves: How do you build an open payment financing network on blockchain that is more powerful than Visa? Today, stablecoins are already powering $2T in payments annually. An open payment financing network is going to help grow the entire payment ecosystem faster.” said Huma co-founder Richard Liu. “The surge of interest we’re seeing right now is a testament to PayFi’s potential. As more partners join us every week, it’s clear that PayFi is quickly becoming the new frontier of RWA.”
Building on this vision, Huma’s April merger with Arf, the leading on-demand liquidity solution for global payments, brought together the two of the most prominent PayFi players. Huma and Arf have already surpassed $1.8 billion in payment financing transactions and are on track to reach $10 billion next year, making them one of the fastest growing use cases for Circle’s USDC.
Part of this raise came as investments into Arf’s high-yield RWA assets. The Stellar Development Foundation provided a $10 million investment. Additionally, tokenized assets are currently available to accredited investors on Scroll for a limited period. With this funding infusion, Huma plans to further expand its PayFi network to the Stellar smart contract platform and to Solana in the coming months, making sure the network is accessible from all the major payments-focused chains.
“Moving money quickly and cheaply across borders is at the core of what the Stellar network does best. PayFi is providing real world utility that solves problems for people and companies, and it is the type of project tailor-made for the Stellar network. We look forward to continuing to working with Huma to grow the PayFi ecosystem,” said Denelle Dixon, CEO of the Stellar Development Foundation.
“Huma’s PayFi network represents an important step forward in payment financing, offering solutions to long-standing inefficiencies in the industry,” said Chao Deng, CEO of HashKey Capital. “We believe innovations like this are crucial for addressing real-world challenges, and we’re pleased to see Huma playing a key role in advancing the Web3 space.” Huma’s growing PayFi network has caught the attention of leading blockchain advocates, further fueling the momentum behind PayFi. The Solana Foundation’s support signals how PayFi’s innovative on-chain financial solutions are set to redefine global finance.
“PayFi is the creation of new financial markets around the time value of money. On-chain finance can enable new financial primitives, product experiences, and financial access that are impossible in traditional or even Web2 finance. When I met the Huma team, it was immediately apparent that they’d be a great anchor for the PayFi ecosystem within Solana.” said Lily Liu, President of Solana Foundation.
Huma plans to launch the Huma Foundation this year, a pivotal move to decentralize its PayFi network and broaden global access, further solidifying its leadership in the RWA space. Additionally, Huma is set to host the inaugural PayFi Summit in collaboration with the Solana Foundation and Stellar Development Foundation at Singapore Token 2049 on September 17th——an event poised to ignite conversations and drive innovation in the industry.
About Huma
Huma Finance is the first PayFi network. Huma powers financing of global payments, with instant access to liquidity anywhere, anytime. For more information about Huma and the PayFi network, visit https://huma.finance/
SALT LAKE CITY, Sept. 11, 2024 — The University of Utah, one of the nation’s leading research universities, and EPIC Ventures, a Salt Lake City based early-stage venture capital firm, have partnered to launch University of Utah Ventures, Powered by EPIC. By combining the U’s innovation engine with EPIC’s extensive network, the partnership will catalyze growth for early-stage technology companies across various sectors, including software, health and life sciences and financial technology.
“University of Utah Ventures represents a transformative opportunity for both the university and the broader entrepreneurial ecosystem,” said Taylor Randall, president of the U. “By partnering with EPIC Ventures, we are positioning ourselves to not only foster groundbreaking innovation within our institution but also to drive significant economic growth across the region.”
The fund is designed to leverage the U’s almost $700 million in research funding and rich history of alumni founders with EPIC Ventures’ expertise in scaling successful businesses. The U and EPIC have a history of collaborating, having partnered in investing in and supporting the team at Recursion Pharmaceuticals, now a $2 billion publicly traded company.
“Research is not only about innovation and solving societal challenges but transitioning those discoveries into access and economic development. The venture fund is part of a larger VPR strategic plan to improve our technology transfer process at the U and to include commercialization earlier into the research discovery pipeline,” said Erin Rothwell, vice president of research at the U.
The EPIC Fund and University of Utah partnership was facilitated by the U’s designated office for startups, the Utah Venture Hub, run by Jim Hotaling, associate vice president of research for commercialization. Utah Venture Hub is designed to connect faculty entrepreneurs with experts in business, early-stage capital and a network of advisors to fuel spin out companies.
“The fund is viewed as a major milestone in the journey of the University of Utah to become a leader in the innovation and commercialization space,” said Hotaling. “The fund will provide unique opportunities for university affiliated startups, faculty spinouts and external entrepreneurs seeking to capitalize on the strategic value of the U’s resources and EPIC’s industry expertise.
“This collaboration is more than just an investment fund—it’s a strategic initiative to empower entrepreneurs and transform ideas into impactful businesses,” said Nick Efstratis from EPIC Ventures. “We are excited to work alongside the University of Utah to create a lasting legacy of innovation in the Intermountain West.” EPIC Ventures brings nearly three decades of experience to this partnership. The firm’s expertise in early-stage investments will be instrumental in helping University of Utah Ventures achieve its goals.
“We are thrilled about the launch of the University of Utah Fund, which will provide another crucial layer of capital to fuel the growth of early-stage companies. This initiative will significantly bolster the Utah Innovation Fund’s capacity in driving commercialization efforts,” said Jefferson Moss, managing director of Utah Innovation. “This collaboration is about more than just capital; it’s about building a comprehensive ecosystem that fosters innovation, drives sustainable economic growth and cements Utah’s reputation as a leader in translating academic research into real-world impact.”
About the University of Utah The University of Utah is the state’s flagship institution of higher education, with 18 schools and colleges, more than 100 undergraduate and 90 graduate degree programs and an enrollment of more than 35,000 students. It is a member of the Association of American Universities—an invitation-only, prestigious group of 71 leading research institutions. Recently ranked No. 1 Public University in the West by the Wall Street Journal, the U strives to be a model public university in delivering unmatched value in higher education and health care while making social, economic and cultural contributions that improve the quality of life throughout the state, the nation and the world.
About Utah Venture Hub Utah Venture Hub at the University of Utah serves as a central resource for innovation and startups, committed to supporting faculty, entrepreneurs, and investors. By fostering collaboration and providing access to essential resources, the Hub drives the commercialization of groundbreaking technologies and contributes to the economic growth of Utah. Its main goal is to reduce the activation energy necessary for faculty to form successful venture backable companies.
About EPIC Ventures Established in 1994 in Salt Lake City, Utah, EPIC Ventures is a leading venture capital firm specializing in early-stage technology investments. With a focus on software-as-a-service, healthcare, biotech, security, fintech, and future of work sectors, EPIC has been at the forefront of tech investing since the internet’s infancy. Led by a team of seasoned investors and operators, EPIC brings decades of operational and investment experience to the table. This unique blend of expertise allows EPIC to offer more than just capital; they provide strategic guidance and industry connections that are crucial for startup success. EPIC’s impressive track record includes multiple successful acquisitions and IPOs, cementing their reputation as a valuable partner for ambitious tech startups. While deeply rooted in Utah’s thriving tech ecosystem, EPIC actively pursues investment opportunities across the United States. Find more information about EPIC Ventures here.
SOURCE University of Utah
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SINGAPORE, Sept. 11, 2024 — HTX Ventures and HTX DAO showed strong engagement during the Korea Blockchain Week 2024 (1-7 September) .Through exclusive side events and engaging panel discussions, HTX Ventures and HTX DAO demonstrated their thought leadership in blockchain investments and AI innovation, connecting with influential partners and driving forward the industry’s most critical conversations.
As a leader in the Web3 space, HTX Ventures seized the opportunity to showcase its pioneering investment strategies, showing strong interests in prominent sectors like BTCFi, SocialFi, and decentralized AI. At the VIP private dinner hosted by HTX DAO on 3 September, an elite audience of trading firms, institutional clients, and key partners facilitated networking and potential future collaborations. Similarly, HTX Ventures’ private dinner on 5 September garnered strong interest from new and existing partners, reaffirming their influence in shaping the venture capital landscape in Web3.
Other events include “Entertainment Reimagined” Web3 entertainment side event with Fellaz and TRON on 4 Sept, Ecosystem Global Meet-up on 5 Sept, AI Crypto Summit, a Web3 conference on AI and blockchain, on 5 Sept, and several after parties.
Insights on Promising Sectors
Representing HTX Ventures, Managing Partner Edward delivered his insights on the evolving landscape of Web3 investments during several panel discussions.
On 4 September, during the “Navigating Investment in Web3, Tech, Narrative, or Fomo?” panel hosted by DFG, Edward highlighted key investment trends, noting the success of the meme sector, BTCFi innovations, and promising areas such as SocialFi, AI, and DePIN.
“The meme sector has performed remarkably well in this cycle. Attracting funds through memes and subsequently launching utility-driven products is one of the strategic paths that ecosystem developers and project teams are pursuing this cycle.” Edward said, “BTCFi, based on the BTC ecosystem this year, is also one of HTX Ventures’ key areas of interest. As an innovation track in 2024, the BTC ecosystem is witnessing various innovations, and we anticipate even more developments in this field. SocialFi projects, AI, and DePIN are also sectors that we are closely monitoring.”
Speaking from a broader market perspective, Edward particularly mentioned BTC and ETH ETFs. “The entry of BTC and ETH into the ETF era is poised to significantly alter the dynamics of the cryptocurrency market, bringing in more investors and capital while also potentially introducing greater regulation and market manipulation.”
How HTX Ventures Helps Portfolio Companies
At the MKGA Summit, Edward expanded on HTX Ventures’ strategies for supporting its portfolio companies. HTX Ventures provides a full service for its portfolio companies, including: fundraising support, world-class mentorship, listing opportunities, strategic networking, and global market entry.
One example is BounceBit, a portfolio company that has benefited from HTX Ventures’ extensive resources. “We connected BounceBit with projects across our portfolio, extended their global outreach, and provided in-depth research reports and marketing support, including Twitter space collaborations and events,” Edward explained. “We believe in supporting innovative projects like BounceBit for the long run.”
There are certain things that HTX Ventures looks into when investing in a company, and one of the most important things is the product. Edward said, “HTX Ventures now focuses more on the product and the team itself. Through financial and resource support, HTX Ventures aims to help teams develop genuinely innovative products that serve a large number of crypto users, which is our long-term investment goal.”
Embracing AI in a Decentralized Manner
HTX Ventures is also at the forefront of integrating AI with blockchain technology. On 5 September, Zhao Lei represented HTX Ventures at the AI Crypto Summit’s panel discussion on “The Rise of Autonomous Agents in DeFi & CeFi”. She underscored the transformative potential of decentralized AI, which leverages blockchain for transparent decision-making and enhanced security.
“Our investment arm and exchange have supported several high-potential projects involving decentralized AI from early on. One example is Fetch.ai. Their platform runs AI agents that can conduct transactions and other economic activities,” she said.
Conclusion
The active participation in the plentiful activities showcased HTX Ventures’ and HTX DAO’s commitment to keep building the industry, as well as the great emphasis they put on the Korea and Asia markets.
As the global investment arm of HTX, HTX Ventures is actively seeking high-potential investment opportunities around the globe including key areas like Korea, offering investment and ecosystem support to help innovative startups in the region grow. By staying ahead of market trends and actively supporting innovative projects in key sectors, HTX Ventures is solidifying its position as a driving force in the global blockchain and AI landscape. With the side events, HTX Ventures built a stronger connection with the industry professionals and the local community, opening a new way for more collaboration opportunities.
About HTX Ventures
HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.
HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.
Feel free to contact us for investment and collaboration at[email protected]
SOURCE HTX Ventures
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OSCEOLA, Ark., Sept. 11, 2024 — Hybar LLC, a company building a technologically advanced environmentally sustainable scrap metal recycling steel rebar mill in northeast Arkansas, announced today that Quanta Services, Inc. (NYSE: PWR) recently made a strategic equity investment in Hybar. Quanta Services joins Hybar’s existing high-profile group of equity investors, including TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform; Koch Minerals & Trading, a Koch subsidiary specializing in commodity trading and services; and Global Principal Partners, the investment entity used by Hybar’s senior management team.
Quanta Services is a leading specialized contracting services company that delivers infrastructure solutions for the utility, renewable energy, technology, communications, pipeline, and energy industries. Quanta’s services include designing, installing, repairing, and maintaining energy and communications infrastructure throughout the United States, Canada, Australia and select other international markets. “Quanta’s expertise in developing large-scale infrastructure and renewable energy projects lines up well with Hybar’s objective of producing the most environmentally sustainable steel rebar in North America,” said Dave Stickler, Hybar’s chief executive officer.
Hybar’s first steel rebar mill, which is expected to begin operations in less than a year, will be powered by an adjacent 105 MW solar field and battery storage facility and through a special rate contract entered into with Entergy Arkansas, LLC. The mill will produce a full complement of high-yielding steel rebar that will primarily be used in large infrastructure projects, including projects supported by the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.
Quanta Services looks forward to collaborating with the Hybar management team and is excited to join Hybar’s high-quality group of equity investors as the company pursues its growth initiatives of building and operating a portfolio of energy efficient sustainable steel mills. “Quanta’s investment in Hybar provides an attractive growth opportunity and supports our goal of ensuring domestic sustainable supply of materials for our projects at cost effective pricing in the market,” commented Redgie Probst, Quanta’s chief operating officer.
Mike Stone, Hybar’s chairman and partner at TPG, stated, “Adding a strategic investor like Quanta Services to the Hybar family is further validation that Hybar’s mill design and operating methods—which will drastically reduce greenhouse gas emissions in the steelmaking process—are highly sought after by many of the leading companies and investors across the energy space. As Hybar continues to explore the production and use of green hydrogen, and the substitution of its steel slag for cement in making concrete construction materials, we believe Hybar will benefit significantly from Quanta’s expertise in clean energy and construction.”
This press release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
This press release may contain forward-looking statements, including, but not limited to, the expansion project and financing plans, including the offering of the bonds and equity financing. Forward-looking statements may generally be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes, except as required by law.
SOURCE Hybar LLC
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