Company Has Raised $22 Million in Series A Funding to Enable Growth and Company’s Culturally-Focused Centers, First to Soon Launch in California
LOS ANGELES, Nov. 18, 2024 — Seen Health, the health care organization enabling seniors to age at home through a culturally-focused care model built upon the proven Program of All-Inclusive Care for the Elderly (PACE), has publicly launched and announced $22 million in funding to expand access to care for more than 10 million eligible seniors nationwide. The first center is set to open soon in California.
Seen Health logo
For more than 50 years, PACE has been considered the gold standard of senior care, delivering comprehensive medical and social support for seniors with chronic conditions who are covered by Medicaid and Medicare — providing an alternative to nursing home care by enabling seniors to stay in their homes. Despite PACE’s strong outcomes, with 24 percent lower hospitalization rates and high satisfaction, fewer than five percent of eligible seniors are enrolled. Seen Health aims to change that with community-focused, technology-enabled care through its centers and in participants’ homes.
Twin brothers Xing and Yang Su founded Seen Health out of their own experiences in supporting aging family members. They bring over a decade of experience each from leading technology companies including Uber and Salesforce, partnering with clinical leaders to create a PACE model that expands culturally relevant, high-quality care to underserved communities.
“We experienced firsthand the challenges of caring for our grandparents. Despite having a resourceful and supportive family, ensuring our family members had sustainable, quality care was daunting,” said the Su brothers. “With Seen Health, we are building a care model that reflects the same level of care and attention we wished for our own grandparents, making high-quality care accessible to many more of the millions of seniors and their families who deserve exceptional care.”
Seen Health’s Series A funding, led by 8VC with participation from Basis Set, Primetime Partners, Virtue, and Astrana Health, will fuel development of the company’s technology and the launch of its first center in California.
By engineering operational excellence through technology, Seen Health is overcoming barriers that have historically limited organizations’ ability to scale their impact. Their integrated platform—combining innovative devices, a PACE-centric EHR, and advanced AI infrastructure—serves as a force multiplier for their interdisciplinary team, enabling more personalized care delivery while managing full-risk health plans for highly frail seniors. This comprehensive approach improves both outcomes and economics, making PACE’s gold-standard care more accessible to underserved communities.
“Seen Health modernizes the PACE model, combining clinical and operational excellence with breakthrough technologies that automate back office tasks and empower care teams,” said lead investor Sebastian Caliri, partner at 8VC. “Xing and Yang have staked out an inspiring vision of what senior care can be, and cleared every hurdle in their path to reach this point. We couldn’t be prouder to support their mission.”
The first Seen Health center, opening in Los Angeles County’s San Gabriel Valley, will serve the local Asian and Pacific Islander (API) community, the U.S.’s fastest-growing ethnic group. With ties to the origins of PACE in API communities in San Francisco in the 1970s, Seen Health’s care model and centers are designed with a cultural focus — including providers and staff who speak participants’ native language, family involvement in care, the incorporation of Eastern medicine, and cultural activities.
“Providing culturally competent care to underserved communities in a way that a patient and their family best receive it has always been core to our mission at Astrana Health,” said Brandon K. Sim, President & CEO, Astrana Health. “This driving principle has not changed from our founding more than 30 years ago. For this reason, we are proud to be supporting and working with Seen Health as they leverage their proprietary technology and care model to drive our shared mission: addressing the highly complex healthcare and social needs of our community in a way that makes each patient feel truly at home.”
Seen Health has brought together experienced leaders in PACE and health care, including Dr. Victor Lee as Medical Director, bringing decades of experience in geriatric medicine and PACE, Meena Ramachandran as Chief Product Officer and Head of People, formerly Chief Product Officer at Brightline, Victor Madero as VP Network, formerly VP Medicaid Strategy at Optum California, and Patricia Sandoval, MPA as center director, who has led operations at four California PACE programs and served on the CalPACE board.
About Seen Health Seen Health is providing exceptional aging experiences by offering seniors culturally-focused, technology-enabled care built on the proven 50-year legacy of PACE (Program of All-Inclusive Care for the Elderly). The company’s mission is to empower older adults to age at home with dignity, comfort, and the care they deserve. Committed to improving access to high-quality, long-term care, Seen Health proudly supports underserved senior communities so they can be truly Seen. Learn more at seenhealth.org.
SOURCE Seen Health
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Empowering Global and Local Educational Initiatives Through Employee-Led Philanthropy
WALNUT CREEK, Calif., Nov. 18, 2024 — One Planet Group is thrilled to kick off the annualHolidays with a Purpose campaign, an employee-driven initiative that channels the festive spirit into philanthropic action. This special program, conceived and championed by our dedicated team members, aims to raise $200,000+ in support of two exceptional organizations: Starfish International and Parent University. The One Planet Group employees are not only the heart behind this effort but also contribute significantly through their donations, demonstrating their deep commitment to impactful giving during the holiday season.
Holidays with a Purpose 2024 in support of Parent University and Starfish International.
“As we gather this holiday season, we are profoundly grateful for the chance to enhance our celebrations by supporting the outstanding work of Starfish International and Parent University,” stated Payam Zamani, Founder of One Planet Group. “It is a genuine honor to collaborate with Mam-Yassin Sarr and Michael O’Neal, founders of these inspiring organizations and cherished friends of my wife, Gouya, and myself.”
The campaign, running through December 31, 2024, includes a commitment by One Planet Group to match each donation up to $100,000 in the hopes of doubling the impact of this campaign.
Starfish International and Parent University believe that education is foundational to improving our world. Starfish International is committed to the empowerment of young women and girls in The Gambia, unlocking their potential and enabling them to contribute meaningfully to society. Similarly, Parent University based in Savannah, GA, plays a critical role by fostering robust partnerships between parents and educational institutions, thereby strengthening the fabric of the community. This concerted effort by both organizations not only highlights the global and local importance of education but also reflects the deep commitment of their founders and teams who have dedicated their lives to this cause. To view humanity as a “mine rich in gems” underscores that through education, we can reveal and utilize these treasures for the betterment of society.
Over the years, Holidays with a Purpose has raised over $2.2 million, benefiting organizations like Lidé Haiti, Tahirih Justice Center, FEED, and MONA foundation. One Planet Group is thankful for the generosity of its employees, customers, partners, and friends who have always generously given to this effort and looks forward to once again partnering this holiday season to promote the important work of these two organizations.
One Planet Group believes that integrating business ventures with efforts focused on the betterment of the world can propel our work to greater heights. This is a fusion of spiritual values with business strategies which attempts to bring about a meaningful contribution to society while also elevating our professional lives to something much more fulfilling.
One Planet Group invites all to a live event featuring the founders of Starfish International and Parent University on December 12th at 9 AM PST via online streaming, where representatives from both organizations will share more details about their efforts. To learn more about Holidays with a Purpose and to join this campaign please visit holidayswithapurpose.org.
About One Planet Group One Planet Group is a closely held private equity firm that owns a suite of technology and media businesses while also investing in early-stage companies. Owned and operated businesses span a variety of industries including ad tech, prop tech, publishing, and media. One Planet Group’s mission is to support strong business ideas while building an ethos that helps improve society and give back to communities. The company’s investment portfolio includes a diverse group of innovative tech-enabled products and solutions. Investing primarily in high-growth early-stage entities, emphasizing companies that aspire to ‘Innovation + Intention.’ One Planet Group was founded by entrepreneur Payam Zamani in 2015. With offices and employees in over ten countries, its global headquarters is in Walnut Creek, California. For more information, visit oneplanetgroup.com.
About Parent University Parent University is a community-based, non-profit organization dedicated to strengthening the bond between schools and the wider community. Their mission focuses on enhancing student learning by fostering strong community-school connections and enabling parents to collaboratively support and nurture their children’s educational journeys. This initiative provides support and guidance aimed at ensuring family success, offering various programs that cater to the educational needs of parents and children alike. For more information, visit parentuniversitysav.org.
About Starfish International Starfish International is a non-profit organization dedicated to providing a well-rounded and quality education for Gambian girls and boys. Working annually with 100 girls and 35 boys, Starfish International has been in service for 12 years, uplifting, educating, accompanying, and providing a safe haven for their students’ growth, well-being, and development. Starfish’s mission is to uplift Gambian girls by providing them with a world-class education that is focused on service to humanity while at the same time providing international service-learning opportunities for volunteers. The values and the five qualities highlighted at Starfish International are nobility, independence, courtesy, knowledge, and service. As an organization, its major achievement is to have graduated and impacted over 900 students who are now doctors, teachers, lawyers, nurses, and many other professionals in their respective fields. Their three significant areas of impact are education, health, and agriculture, with a focus on mentorship, entrepreneurship, character development, scholarship opportunities, leadership training, career counseling, public speaking, and community service. For more information, visit starfishinternational.org.
MEDIA CONTACT Bita Milanian, Head of Communications & PR, One Planet Group pr (at) oneplanetgroup.com (925) 237-9036
SOURCE One Planet Group Inc.
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Media Capital Partnership Fuels Growth in Outdoor Activities Market
REDWOOD CITY, Calif., Nov. 18, 2024 — Mercurius Media Capital (MMC), the first institutional U.S. media-for-capital fund, has announced a $1.5 million media capital investment in Captain Experiences, a rapidly growing outdoor sports marketplace company. The media capital partnership is designed to bolster Captain Experiences’ brand visibility and expand its reach in key U.S. markets.
With 165 million Americans participating in outdoor activities annually and $15 billion spent on guide fees, the outdoor sports market is thriving and positioned for significant growth.
Captain Experiences is a leading outdoor sports marketplace company based in Austin, Texas.
“Outdoor sports are one of the last untapped frontiers for marketplaces, and Captain Experiences is proving there’s significant potential for business innovation in this sector,” said Piyush Puri, Founding Partner of MMC. “With their impressive growth, solid unit economics and commitment to customer satisfaction, we believe Captain Experiences is perfectly positioned to tap into the rising demand.”
Media capital is a proven venture model where growth-stage startups trade capital with media companies in exchange for mass market reach and expertise. Bringing together premium media publishers under one roof, Mercurius Media Capital provides startup companies and media partners with the ability to fight for market share in the digital media landscape. The infusion of media resources will allow Captain Experiences to scale its reach, leveraging MMC’s network of media assets.
“This is a pivotal phase of growth for Captain Experiences. This multimedia strategy investment allows our team to focus on continuing to advance our mission to Unlock the Outdoors,” said Jonathan Newar, Co-Founder & CEO of Captain Experiences. “We’re pleased to join forces with the fantastic team at MMC and look forward to sharing unforgettable outdoor experiences with people across the U.S.!”
The media-for-equity model is a fast-growing sector that has already fueled the success of more than 1000+ startups globally, including successful brands like Uber, Coursera and Airbnb.
About Mercurius Media Capital Mercurius Media Capital (MMC) is an independent U.S.-based media fund backed by top-tier media companies, including Sinclair Broadcast Group and TelevisaUnivision. With its recently launched $50M+ fund, MMC strategically leverages media inventory from its partners to amplify the U.S. presence of emerging brands, accelerating their growth in the competitive startup landscape. Since its inception in December 2023, MMC has deployed media capital across several high-growth companies, including Deskera (a B2B SaaS ERP platform), Edly (a fintech platform for students), and RVnGo (a peer-to-peer RV rental platform). For more information, please visit www.mmc.us.
About Captain Experiences Captain Experiences is a leading outdoor sports marketplace company based in Austin, Texas. The company’s mission is to make booking outdoor adventures seamless and accessible to all by connecting consumers with verified, experienced guides for fishing, hunting, and other outdoor sports. With over 170,000 users and 3,000 verified guides and service providers, Captain Experiences offers a streamlined, trustworthy platform for outdoor enthusiasts to book memorable experiences.
Media Contact Interdependence PR Angelic Venegas, Account Director [email protected]
SOURCE Mercurius Media Capital
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SANTA CLARA, Calif., Nov. 18, 2024 — ANELLO Photonics, the creator of the Silicon Photonic Optical Gyroscope (SiPhOG™), today announced the successful closure of its Series B funding round reflecting robust investor confidence in the company’s groundbreaking approach to inertial navigation in GPS-denied environments. The investment was co-led by Lockheed Martin, Catapult Ventures and One Madison Group. Additional investors included New Legacy, Build Collective, Trousdale Ventures, In-Q-Tel (IQT), K2 Access Fund, Purdue Strategic Ventures, Santuri Ventures, Handshake Ventures, Irongate Capital and Mana Ventures. This funding round will accelerate ANELLO’s mission to revolutionize navigation and positioning in GPS-denied environments across both Industrial and Defense applications.
The participation of new investors highlights the significant interest in ANELLO’s groundbreaking SiPhOG technology which brings high precision optical fiber gyro performance onto an integrated silicon photonics platform. ANELLO’s solutions are perfectly designed to meet the rigorous demands of navigation, positioning, and motion tracking for autonomous applications in challenging GPS-jammed and spoofed environments.
“Every week there’s an article about a commercial flight or defense-related mission getting GPS jammed like thousands of flights to and from Europe affected by suspected Russian jamming. GPS has become a single-point of failure because it’s too easily compromised with various jamming & spoofing techniques. ANELLO’s proven and commercially available optical gyroscope is the only navigational tool that can take over: precision over long periods of time, the size of a golf ball, low power, low cost, that’s immune to shock and vibration. ANELLO will save lives in the air, on the road, and over water,” said Tony Fadell Build Collective Principal and Nest Founder.
“We are excited to announce our new series B funding round as well as our new investors in ANELLO” said Dr. Mario Paniccia, CEO and co-founder of ANELLO Photonics. “This investment not only validates our SiPhOG technology and products in the marketplace but will allow us to accelerate our manufacturing and product development as we continue to push the boundaries and leadership for navigation capabilities and performance to our customers who want solutions for GPS-denied environments.”
“We’re committed to fostering the art of the possible with investments in cutting edge technologies, including advancements in inertial navigation that have the potential to enhance autonomous operations in GPS-denied environments,” said Chris Moran, Vice President and General Manager of Lockheed Martin Ventures. “Our continued investment in ANELLO reflects our mission to accelerate technologies that can ultimately benefit national security.”
ANELLO Photonics is actively collaborating with leading customers across diverse industries, including Construction, Agriculture, Trucking, Robotics, Unmanned Aerial Vehicles, Unmanned Underwater Vehicles, Autonomous Vehicles, Defense and National Security.
About ANELLO Photonics ANELLO Photonics is a leading-edge technology company based in Santa Clara, CA. The company has developed the ANELLO SiPhOG™ – Silicon Photonics Optical Gyroscope – based on integrated photonic system-on-chip technology. ANELLO’s technology portfolio spans over 28 issued patents, over 44 pending patents, and also includes an AI-based sensor fusion engine. ANELLO® and SIPHOGTM are registered trademarks of ANELLO Photonics.
About Build Collective Build Collective, led by Tony Fadell, is a global investment and advisory firm coaching engineers, scientists, and entrepreneurs working on foundational deep technology. With 200+ startups in its portfolio, Build Collective invests its money and time to help engineers and scientists bring technology out of the lab and into our lives. Supporting companies beyond Silicon Valley, Build Collective’s portfolio is based mainly in the EU and US with some companies in Asia and the Middle East. From tackling food security, sustainability, transportation, energy efficiency, weather, robotics, and disease to empowering small business owners, entrepreneurs, and consumers, the startups in Build Collective’s portfolio are improving our lives and prospects for the future. With no LP’s to report to, the Build Collective team is hands-on and advises for the long-term.
About Lockheed Martin Ventures Lockheed Martin Ventures makes strategic investments in companies that are developing cutting edge technologies in core businesses and new markets important to Lockheed Martin. More than a source of capital, Lockheed Martin Ventures provides portfolio companies with access to our world-class engineering talent, state-of-the-art technologies, and research and access to the company’s international business relationships and supply chain.
COLUMBUS, Ohio, Nov. 18, 2024 — OneCompass Holdings is pleased to announce its strategic investment in Evolve Global Logistics (EGL), a minority-owned logistics company headquartered in Columbus, Ohio. Partnering with leading corporations across various industries, this investment strengthens Evolve’s position in the logistics sector.
OneCompass Holdings, an employee-owned acquisition company.
Evolve Global Logistics has established a strong reputation for delivering innovative and reliable transportation solutions tailored to the needs of large corporations. With OneCompass’s investment, EGL will gain access to a wide range of advanced resources that will support its growth, operational excellence, and scaling capabilities—enabling it to serve an even broader customer base with increased efficiency. OneCompass is dedicated to empowering Evolve to expand its impact and continue strengthening its position in the logistics space.
Carlton Dean, CEO & Co-Founder of Evolve Global Logistics, commented on this recent investment.
“We are truly honored to be a part of the OneCompass family and believe they are an excellent fit for our goals in the logistics industry, especially in how we serve our community. Finding an organization that operates across multiple industries and has expertise in asset-based trucking and warehouse operations was essential. We are extremely pleased with this partnership and look forward to enhancing our brand identity while maintaining consistency in our work.”
Supporting companies in the logistics industry is nothing new for OneCompass Holdings; their original holding company, FST Logistics, is already a recognized leader in the field. With expertise in fostering growth within the logistics sector, OneCompass is well-equipped to guide companies like Evolve toward even greater success. As a strong contender in managed transportation, Evolve has tremendous potential to rise as a top industry player.
Matt Hartman, Chairman and CEO of OneCompass Holdings, commented on this recent investment.
“The team at OneCompass Holdings is very excited about our investment in Evolve Global Logistics (EGL). We are honored to have the opportunity to work closely with Carlton Dean, CEO and Co-founder of EGL, and John Bush, Director of Operations, to continue to invest in the growth of the business. The team at EGL has a proven track record of delivering excellence to their customers, employees, partners, and our community, collectively, the pillars that OneCompass Holding embraces in all our holdings. We are also very excited to see what synergies there will be with our bedrock holdings under FST Logistics as our teams begin to work more closely together.”
The partnership between OneCompass Holdings and Evolve Global Logistics represents a pivotal milestone for both organizations. Rooted in the local community of Columbus, Ohio, this collaboration highlights OneCompass’s dedication to cultivating diversity within its portfolio of holdings and supporting the growth of minority-owned businesses.
About OneCompass Holdings OneCompass Holdings is an employee-owned holding company dedicated to empowering companies on their journey toward excellence. Through comprehensive shared services in finance, technology, human resources, and learning and development, they specialize in guiding companies through the complexities of strategic growth.
About Evolve Global Logistics Evolve Global Logistics (EGL) is a minority-owned business focused on the transportation industry. Providing tailored logistics solutions, such as managed transportation services. EGL is committed to driving value for its partners while promoting diversity and inclusion in the transportation industry by delivering efficient, reliable, and innovative services.
SOURCE OneCompass Holdings
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LOS ANGELES, Nov. 18, 2024 — Moonvalley, a leading imagination research company building state-of-the-art generative AI creative models and tools, announced today it has raised $70 million in funding to date. This capital infusion will propel the development of groundbreaking AI tools and models designed to enhance trust, transparency, and efficiency within the media industry.
The company plans to use this funding to continue advancing AI research, developing creative tools and deep learning models. Working with a world class team of researchers, engineers and artists from companies like Deepmind, Google, Meta, TikTok, Microsoft and more, their goal is to build an artist-first creative suite for the film industry and creatives, cementing Moonvalley as a pioneer in the video model space.
“We’re energized by this incredible support, which accelerates our mission to build frontier foundational video models,” said Naeem Talukdar, Moonvalley Co-founder and CEO. “Our team consists of the best researchers in the world who are dedicated to this vision and this new capital enables us to push the boundaries of creative technology and design a new model that empowers and supports artists. Together, we’re driving transformative solutions that will shape the future of media in unprecedented ways.”
As the relationship between media and AI continues to evolve rapidly and not without skepticism, Moonvalley aims to establish itself as the most trusted partner for media organizations, building a trusted creative suite for the film industry and creatives. The new funding will also be directed towards expanding the company’s research and development efforts, hiring top talent, and accelerating the deployment of its cutting-edge AI solutions.
The funding round was led by General Catalyst & Khosla Ventures, with participation from Bessemer Ventures. Partners are Hemant Taneja, Samir Kaul & Byron Deeter, as well as Alexa Liataud (GC), Janelle Teng at Bessemer and Vinod Khosla.
“Moonvalley is advancing the entertainment industry by bringing together world-class talent to custom build generative AI video tools for filmmakers, artists, and brands” said Hemant Taneja, CEO and Managing Director of General Catalyst.
As Moonvalley leads the industry into the future, the company remains dedicated to collaborating with partners to tailor solutions that meet their unique needs, ultimately setting new standards for excellence and reliability in the media industry.
ABOUT MOONVALLEY Moonvalley is a deep learning research company building the next-generation of tools for creatives. Led by a founding team of Naeem Talukdar, John Thomas, Mateusz Malinowski, Bryn Mooser and Mikolaj Binkowski, Moonvalley has assembled an impressive team of researchers from DeepMind, Google, Meta, Microsoft, TikTok, and more.
SOURCE Moonvalley
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CHENGDU, China, Nov. 18, 2024 — In November 2024, C Ray Therapeutics (Chengdu) Co., Ltd. (hereinafter referred to as “C Ray”), an innovative enterprise in the field of radiopharmaceuticals, announced the completion of its Series A+ financing round exceeding $100 million. This round was co-led by Shenzhen Capital Group Co., Ltd.’s Manufacturing Transformation and Upgrading New Materials Fund (referred to as “SCGC”) and TaiLong Capital, with participation from several renowned institutions and industry players including GL Ventures, 3SBio (01530.HK), Guanghua Wutong, and a well-known industrial investment institution. WinX Capital acted as the exclusive financial advisor for this transaction.
Amidst a backdrop of global economic downturn and increasingly cautious investment trends in the pharmaceutical sector, this milestone achievement further highlights C Ray’s comprehensive strength and development potential in the research, development, production, and clinical application of radiopharmaceuticals.
The main purpose of this round of financing is to further improve the company’s core technology platforms, such as targeted ligand discovery, upgrade the high-throughput screening capabilities for innovative RDC drugs, accelerate the clinical development process of multiple internationally leading R&D pipelines, especially alpha-emitting RDC drugs, and bring more effective treatment options to patients worldwide.
Radiopharmaceuticals are a specialized class of drugs that incorporate radioactive isotopes into specific molecules. These drugs leverage the distinct energy-level rays emitted by different isotopes to either visualize or destroy tumors, thereby integrating diagnosis and therapy. As modern medicine’s demand for precise diagnostics and treatments continues to grow, radiopharmaceuticals have demonstrated significant potential across various fields, including oncology, cardiovascular diseases, and neurological disorders. In 2023, Novartis successfully launched two radioligand therapy drugs, achieving substantial commercial success. Meanwhile, Lilly acquired nuclear medicine company Point for $1.4 billion, and BMS invested $4.1 billion in acquiring RayzeBio, further underscoring the market appeal and promising future of the radiopharmaceutical sector.
C Ray Therapeutics, established in 2021 and headquartered in Chengdu Medical City, is incubated by internationally renowned investment institutions 6 Dimensions Capital. Since its establishment, C Ray has been dedicated to the field of radiopharmaceuticals, aiming for world-class standards. Within just over three years, the company has achieved a series of landmark accomplishments:
Construction of a nearly 30,000 square meter R&D and production base for radiopharmaceuticals.
Obtaining the first Class A Radiation Safety License for an innovative radiopharmaceutical enterprise.
Establishing a leading platform with advanced global equipment, cutting-edge technology innovation, and comprehensive functional support in the field of radiopharmaceuticals.
C Ray Therapeutics has established notable advantages in the radiopharmaceutical industry:
Upstream and Downstream Industrial Chain Layout C Ray has secured stable supplies of isotopes and logistics channels for products, enriching resources both upstream and downstream. This ensures the efficient, stable, and comprehensive operation of the supply chain. The company has assembled a multidisciplinary technical team from around the world, continuously building core capabilities in radiochemistry, molecular imaging, radiation dosimetry, and translational medicine. The team has extensive experience with labeling small molecules, peptides, and antibodies using isotopes such as 68Ga, 64Cu, 18F, 89Zr, 177Lu, and 225Ac, covering all stages from pilot studies, intermediate-scale trials, process scaling, non-clinical research, clinical research, to commercial production.
Advanced R&D and Production Facilities The R&D platform can meet the full range of drug development needs, from process development, quality research, and quality inspection to efficacy, pharmacokinetics, and safety evaluations. It has obtained permits for handling over 30 types of medical isotopes and constructed 13 cGMP-standard radiopharmaceutical production workshops compliant with FDA, NMPA, and EMA regulations. These workshops are equipped with fully automated, intelligent, and digital radiopharmaceutical production lines featuring proprietary intellectual property.
One-stop Customized Services Utilizing its top-notch R&D and production facilities, C Ray offers one-stop customized services to partners. These include: – Providing CRO services and companion diagnostic development for conventional drugs using molecular imaging. – Offering validation services for the druggability of new targets in innovative drug development. – Delivering end-to-end CRDMO services for radiopharmaceuticals, from early discovery and PCC verification through IND filing, clinical supply, and commercial production, ensuring high-quality and efficient service throughout the entire process.
Statement from C Ray Therapeutics’ Board of Directors / Management Team: We extend our heartfelt gratitude to the investors who have provided strong support in this round of financing, as well as to our existing shareholders for their consistent trust. C Ray Therapeutics has now entered a critical phase of rapid development. With the successful launch of our Class A production base, the smooth progress of IIT/clinical trials, overseas business development, and CRDMO services, we are confident that, with the trust and support of our shareholders, C Ray Therapeutics will accelerate the development of innovative radiopharmaceuticals, technologies, and service platforms that maximize benefits for patients. Our goal is to become a leading innovative radiopharmaceutical enterprise not only in China but also globally.
Statement from Shenzhen Capital Group Co., Ltd. (SCGC): High-end drug carriers have become one of the key technologies in the development of global biomedical technology in recent years. In the field of precision diagnosis and treatment of tumors, the new generation of Radionuclide Drug Conjugates (RDCs) utilize targeted high-end drug carrier materials to conjugate radioactive medical isotope materials, accurately being delivered to the patient’s non-metastatic or metastatic tumor tissue for tumor diagnosis and treatment. We are optimistic about C Ray Therapeutics ‘s innovative capabilities and market prospects, and we also look forward to the company achieving greater breakthroughs in the field of healthcare.
Statement from TaiLong Capital: In recent years, innovative radiopharmaceuticals have seen rapid development, with continuous breakthroughs in foundational, clinical research, and translational applications. The Chinese radiopharmaceutical industry is steadily advancing and improving, Tailong Capital has also made multiple strategic deployments in investments within this field. We are honored to partner with a company like C Ray Therapeutics, which possesses a spirit of innovation and comprehensive strength. In the future, we look forward to deepening our cooperation with C Ray in areas such as radiopharmaceuticals development and clinical trials, jointly driving the innovation and development of this field.
Statement from GL Ventures: C Ray Therapeutics boasts unique advantages in the field of radiopharmaceutical R&D, including the ability to integrate and streamline the nuclear industry supply chain. The company has rapidly established a comprehensive industrial system for R&D, production, and supply chain management, thanks to its experienced and efficient execution team. The radioactive biomedicine industry has broad prospects. We believe that under the leadership of the founding team, C Ray Therapeutics will continue to innovate in radiopharmaceutical technology and build a service platform, thereby benefiting a wide range of patients and creating value.
Statement from 3SBio: In recent years, with the evolving of the nuclear medicine research in China, radiopharmaceuticals have gradually shown a broad development prospect and become a highly hot investment area. Joining the investment in C Ray Therapeutics is in line with 3Sbio’s strategy to explore promising collaboration projects. As a local biopharmaceutical company, we look forward to promoting the R&D of innovative radioactive drugs through this collaboration, helping physicians and patients in China benefit from these brand new therapies.
Statement from Guanghua Wutong: Since 2021, Wenjiang District, Chengdu City has leveraged the advantages of Sichuan Province as a major nuclear industry province to take a forward-looking approach in the field of radiopharmaceuticals, aiming to create a national-level hub for the radiopharmaceutical industry. C Ray Therapeutics has become one of the benchmark enterprises in Wenjiang’s radiopharmaceutical field. We look forward to the company continuing to delve deeply into Wenjiang, and becoming a world-class platform for research and development, manufacturing, and commercialization in the radiopharmaceutical industry at an early date. This will help to promote the academic development of radiopharmaceuticals and make a greater contribution to the biopharmaceutical industry.
Statement from WinX Capital: Deeply honored to have served as the exclusive financial advisor for C Ray and to have successfully brought this significant financing round to a close. We are grateful for the trust and recognition from C Ray’s board of directors and management. Innovative radiopharmaceuticals represent one of the fields with the highest potential for blockbuster drugs and significant barriers to entry. C Ray Therapeutics has demonstrated clear advantages in integrating the industry chain. We believe that this round of financing will inject strong momentum into the company’s development, propelling its strategic layout on a global scale.
About Shenzhen Capital Group Co., Ltd. (SCGC) Established in 1999 with capital contributions from the Shenzhen municipal government and social capital, Shenzhen Capital Group Co., Ltd. (SCGC) is committed to discovering and nurturing great enterprises. SCGC aims to be a discoverer and cultivator of innovative value, and for now has grown into a comprehensive investment group centered on venture capital. SCGC manages a total fund size of more than 480 billion yuan. The SCGC Manufacturing Industry Transformation and Upgrading New Materials Fund is a specific investment vehicle for the National Manufacturing Industry Transformation and Upgrading Fund, focusing primarily on investments in the field of new materials.
About Tailong Capital Tailong Capital, established in 2021, is a professional equity investment management institution focusing on the fields of biomedicine, medical devices, and healthcare. The scale of the TaiKun Fund managed by Tailong Capital is 20 billion yuan. Tailong Capital has a professional and experienced investment team, focusing on biomedicine, innovative medical devices, CXO services and related innovative fields, as well as outstanding biopharmaceutical industry funds. The company is committed to building a value investment platform for the biopharmaceutical industry that is loyal to science and transcends market cycles.
About GL Ventures GL Ventures is one of the most active venture capital platforms in China, dedicated to uncovering and creating value in innovative companies, especially in key areas such as new technologies, new energy, new materials, and new consumption. We are committed to providing systematic DVC (Deep Value Creation) services to support the long-term development of early-stage innovative enterprises.
About 3SBio 3SBio is a leading biopharmaceutical company that integrates R&D, production, and sales, dedicated to enhancing patient survival quality and contributing to human health through high-quality medicines. The company holds over 100 national invention patents and offers more than 40 products, covering nephrology, oncology, autoimmune diseases, ophthalmology, and dermatology. 3SBio operates four R&D centers, including the National Engineering Research Center for Antibody Drugs and dual platforms for biopharmaceuticals and chemical drugs, with 28 products under development, 25 of which are national new drugs. The company has five GMP-compliant production bases. Moving forward, 3SBio will continue to uphold the philosophy of “cherishing life, caring for survival, and creating living,” aiming to become a globally leading Chinese biopharmaceutical company.
About Guanghua Wutong Guanghua Wutong is a wholly-owned subsidiary of Chengdu Guanghua Open Source Capital Management Co., Ltd., the state-owned capital operation platform of Wenjiang District, Chengdu. Adhering to the corporate philosophy of “dedication, professionalism, and sincerity,” Guanghua Wutong focuses on meticulous and efficient investments, striving to build a fund ecosystem and investment service network that deeply roots in the region and radiates nationwide. The company has initiated 13 market-oriented investment funds with a managed capital scale of nearly 10 billion yuan, focusing on key industries such as healthcare, big data, and AI. It has gathered rich industrial resources in biomedicine, advanced medical care, health, big data, and smart manufacturing. The Wenjiang District Industrial Investment Guidance Fund has been selected as one of the “Top 30 Best Government Guidance Funds (District Level)” in China for 2020.
About WinX Capital WinX Capital is a leading investment bank in the healthcare sector in China, with headquarters in Beijing and Shanghai. The company covers over 3,000 active investment institutions and industry groups. WinX Capital has received numerous accolades, including the “Top Financial Advisor in Healthcare 2022 and 2023” by First Voice, the “Best Financial Advisor in Healthcare 2021-2022” by Qiming Card & NewVoice Innovation Service, and the “Annual Top Financial Advisor in Healthcare 2022-2024” by Artery Network.
SOURCE C Ray Therapeutics
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BEVERLY, Mass., Nov. 18, 2024 — Quanta Dialysis Technologies, a leader in transforming kidney care through its award-winning Quanta™ Dialysis System, has successfully closed its oversubscribed Series E Preferred Stock financing round, raising more than $60 million of additional capital.
Led by Novo Holdings, Glenview Capital and b2venture, with broad participation by existing shareholders, this latest funding round underscores strong investor confidence in Quanta’s market potential to revolutionize the treatment of kidney disease across a variety of settings.
Quanta Dialysis Technologies, developers of the award-winning Quanta™ Dialysis System, has raised more than $60 million from its latest Series E funding round. It plans to use the capital to expand its commercial presence in the US and continue investment in cutting-edge innovation.
With the newly secured capital, Quanta will expand its commercial presence in the US and continue to invest in cutting-edge innovation within the sector.
“Our commitment to delivering innovative solutions for acute care has never been stronger,” said Alejandro Galindo, Quanta’s Chief Executive Officer. “This financing round provides the resources to solidify Quanta as the best-in-class solution across the care continuum, to significantly expand our commercial operations, while continuing to introduce enhancements that will strengthen our long-term competitive position.”
“Quanta’s compelling product-market fit within the $1.5 billion acute care segment is demonstrated by its ability to win contracts over well-established legacy CRRT and IHD competitors,” said Robert Ghenchev, Managing Partner of Growth Investments at Novo Holdings. “The recent FDA clearance for the home setting is transformational for patients and significantly expands Quanta’s addressable market into the chronic and sub-acute segments.”
“The team at Quanta continues to deliver on their plan to offer the market a next generation dialysis system that provides exceptional quality care to patients, is easy to use and can provide substantial savings to providers,” adds Lloyd Mandell, Managing Director of Glenview Capital. “We are confident this funding will allow more patients to have access to the Quanta Dialysis System, while allowing the company to achieve their goals of reaching more customers and driving down the cost of their products.”
This milestone marks a significant step towards revolutionizing kidney care and improving patient outcomes. Furthermore, as Quanta advances its growth strategy this latest capital injection will ensure both customers and industry partners can continue to rely on the company’s robust financial foundations.
Notes for editors:
About Quanta Dialysis Technologies
Quanta Dialysis Technologies is committed to making high-quality and cost-effective dialysis accessible to every patient, in every setting, with its Quanta Dialysis System. The Royal Academy of Engineering announced Quanta Dialysis Technologies as the recipient of the 2022 MacRobert Award (the UK’s longest running and most prestigious award for UK engineering innovation), joining the ranks of Rolls-Royce, Arup and Raspberry Pi.
To learn more about Quanta and its products, visit www.quantadt.com.
About the Quanta Dialysis System
As a compact device with performance comparable to larger traditional machines, the Quanta Dialysis System provides the clinical versatility needed to deliver kidney replacement therapy across multiple care settings. With an intuitive user interface and only once-weekly hot rinse requirement, the device is designed to be operated by a broad range of users to bring dialysis directly to patients.
In 2022, Quanta received clearance for the first and only FDA-cleared device able to perform intermittent hemodialysis (IHD), sustained low efficiency dialysis (SLED), and CRRT (CVVHD and SCUF) without any need for bags. In 2024, Quanta received FDA-clearance for home hemodialysis (HHD), offering a high dialysate flow (500 mL/min) system.
The SC+ Hemodialysis System is now known as the Quanta Dialysis System.
New report finds startup success highest in Colorado, Utah, and Michigan, with strong economies and business-friendly conditions
HAUPPAUGE, N.Y., Nov. 15, 2024 — Location, location, location. It’s not just true of real estate. If you’re interested in starting a business, you might maximize your chances of success if you decide to launch in Colorado. In its inaugural “Best States to Start a Business” report, National Business Capital crowned Colorado the top state for startups, followed by Utah and Michigan. These states combine booming economies, strong access to capital, and manageable taxes – all factors that favor a new venture.
Best States to Start a Business in 2025
Worst States to Start a Business in 2025
Researchers at the national lending platform for business owners analyzed factors which helped new businesses flourish. Colorado and Utah’s balanced blend of opportunity, growth and support give them a clear edge, while tax-friendly Texas and Florida and high-capital states like California offer unique advantages for aspiring business owners.
Top States Lead in Growth and Support – Colorado and Utah dominate with supportive, growth-oriented business environments, while Texas and Florida attract with low taxes, and California offers deep funding resources.
New England Remains Tough for Startups – High costs and limited support challenge new businesses in New England. Massachusetts is the only state in the region to break the top 10.
High First-Year Survival in Mid-Atlantic, Long-Term Success in the North – Pennsylvania, New Jersey, and New York report high first-year survival rates. States like Minnesota and Massachusetts excel at five-year survival.
Stark Survival Rate Drop in Key States – Missouri, New Jersey, and Kentucky have sharp declines from first to fifth-year survival, with Missouri showing a 30% drop.
Mountain West and Southeast See Highest New Business Applications – Wyoming, Delaware, Colorado, and Utah lead in new business applications, while New England and the northern heartland lagged.
“With a good business plan, hard work and a little luck, you can succeed anywhere,” said Joe Camberato, CEO, National Business Capital. “If, for instance, my cousin wanted to open a business and she could move anywhere in the country, I would urge her to read this study carefully.”
THE BEST U.S. STATES TO START A BUSINESS IN 2025
1.Colorado (score out of 100): 71
2.Utah (score: 68.1) – tie
2.Michigan (score: 68.1) – tie
4.Texas (score: 66.1)
5.Florida (score: 64.3)
6.California (score: 64.2)
7.Minnesota (score: 63)
8.Indiana (score: 62.7)
9.Massachusetts (score: 62.1)
10.Ohio (score: 61.6)
THE WORST U.S. STATES TO START A BUSINESS IN 2025:
41. New Hampshire(Score: 45.0 out of 100) 42. Wisconsin(43.1) 43. Maine(41.3) 44. New Mexico(40.7) 45. Arkansas(40.4) 46. Oregon(40.2) 47. Vermont(40) 48. West Virginia(39.3) 49. Rhode Island(35.7) 50. Kansas(29.4)
METRICS
Year One Survival Rates (12%) Year Five Survival Rates (18%) GDP Per Capita (8%) LLC Filing Costs (4%) LLC Annual Costs (6%) Top Corporate Tax Rate (7.5%) Business Applications Per Capita (13%) Venture Capital Per Capita (8%) SBA Loan Approvals Per 100,000 Residents (11%) Gross Receipts Tax (5%) Personal Income Tax (7.5%)
About NationalBusinessCapital:
NationalBusinessCapital helps entrepreneurs secure quick and fair financing to save time and cultivate sustainable growth.
The company’s stress-free online platform is designed for simplicity and speed, helping business owners go from application to approval in a matter of hours. From SBA loans to lines of credit, equipment financing, and more, business owners can access all the different financing programs available to them in one place.
For more information on this list and this topic, please contact Sarah Johnson, [email protected].
