The investment will enable TONCASH to accelerate the onboarding of millions of users to its innovative crypto cashback platform and build the Web3 standard for best-price shopping.

HONG KONG, Jan. 7, 2025 — TONCASH, the Telegram-native crypto cashback and rewards platform, has received a strategic investment from TON Ventures, the flagship venture fund of The Open Network (TON). The strategic investment will accelerate TONCASH’s mission to onboard millions of users and become the Web3 standard for best-price shopping and on-chain rewards.

Ben Usinger, CEO and Co-Founder of TONCASH, commented: “This investment deepens our collaboration with Telegram and The Open Network, empowering us to deliver the best online shopping and rewards experience for the Web3 audience. With TON Ventures’ strategic support, we’re driving the adoption of on-chain payments, engaging millions of users through innovative cashback mechanics and redefining how brands connect with customers in the Web3 space.”

Since launching its Telegram Mini App in November 2024, TONCASH has gained over 200,000 users and a large following on social media, underscoring its product-market fit and rapid growth potential.

TONCASH users enjoy deals from over 200 top brands, including Apple, Adidas, Binance, or Trip.com, offering up to 80% cashback — redeemable in Bitcoin, USDT, or TON tokens. Beyond cashback, the mini app provides perks such as airdrops and engagement rewards, all while operating seamlessly on any phone with Telegram installed.

With TON Ventures’ backing, TONCASH now pursues an aggressive expansion across Asia-Pacific, Europe, the Middle East, and Latin America, reaching Telegram’s 950-million-user base and connecting global brands to Web3 users through crypto cashback and rewards.

To join the app and benefit from its perks:

Visit: TONCASH website

Join us on Telegram

SOURCE TONCASH

The funding will advance Senseera’s GEM BIOMARKERS™ liquid biopsy platform, powered by cfChIP-seq technology. The platform decodes cell-specific gene expression and cell states from a simple blood draw, providing detailed molecular insights for diagnosing and monitoring diseases. This transformative approach delivers the precision of biopsy-level insights with the convenience of a non-invasive blood test.

Senseera’s technology is built on decades of research led by Prof. Nir Friedman and validated in top-tier journals such as Nature Biotechnology. Supported by data from over 20,000 human samples, Senseera has established a robust foundation for accelerating drug development and precision medicine in oncology, immunology, and metabolic diseases, and revolutionizing liver diseases management. Liver diseases represent a significant global health challenge, affecting up to 25% of the population. Existing diagnostics often rely on invasive and risky biopsies or non-specific tests, resulting in delayed diagnoses and suboptimal patient care. Senseera’s platform offers an innovative solution for early detection and management of conditions like MASLD/MASH, liver transplant rejection, and hepatocellular carcinoma (HCC). The funds will accelerate market entry of Senseera’s next generation transplant rejection test, advance clinical trials, and expand partnerships with global biopharma.

In addition to its unique liver diseases diagnostics pipeline, Senseera’s platform offers unparalleled potential for accelerating drug development in cancer and immune disorders. By providing simultaneous solid tissue and immune cell states monitoring, the platform provides insights into tissue/tumor immune cross-talk, enabling researchers and clinicians to better understand the underlying mechanisms and support personalized treatments.

“This funding marks a major milestone in Senseera’s journey to transform diagnostics for liver diseases and beyond, and to accelerate drug development,” said Dr. Ronen Sadeh, CEO of Senseera. “With the support from Lightspeed and our investors, we will advance clinical trials, strengthen collaborations with global pharma leaders, and expand our pipeline to improve patient outcomes.”

About Senseera
Senseera is a next-generation liquid biopsy company pioneering chromatin epigenomics to deliver deeper disease insights. Its GEM BIOMARKERS™ platform enables non-invasive detection and monitoring of diseases, advancing personalized medicine through cutting-edge science and robust molecular analysis.

Contact: [email protected]

Logo – https://mma.prnewswire.com/media/2591678/Senseera.jpg
Logo – https://mma.prnewswire.com/media/2591679/Lightspeed.jpg

SOURCE Senseera

HOUSTON, Jan. 6, 2025 — Cemex is proud to announce its participation in multiple government-sponsored sustainability initiatives, securing funding from state and federal programs to deploy several lower-emission vehicles across its U.S. footprint. This remarkable investment is a crucial step in the company’s ongoing efforts to decarbonize its operations.

Through the Texas Emissions Reduction Plan (TERP), Cemex was awarded approximately $13 million to obtain four lower-emission locomotives and two haul trucks for its cement and aggregate sites in New Braunfels and Katy, Texas. The TERP program provides financial incentives to eligible individuals, businesses, or local governments to reduce emissions from polluting vehicles and equipment. Three of the four new locomotives and both haul trucks entered service in late 2023 and mid-2024 in New Braunfels, respectively.

Looking ahead, Cemex will continue its commitment to protecting air quality by deploying additional equipment in 2025. A $2 million grant from the U.S. Environmental Protection Agency’s (EPA) Diesel Emissions Reduction Act (DERA) Program will allow for two lower-emission locomotives to enter Cemex’s service in Jacksonville and Miami in summer 2025.

“Through these state and federal programs, significant strides toward advancing responsible business practices are more attainable,” said Cemex U.S. President Jaime Muguiro. “Our new lower-emission vehicles play a key role in the development of building materials for roads, schools, hospitals, and more, while also pivotal to our CO2 reduction roadmap.”

Upon placing these emissions-reducing vehicles into service, Cemex decommissions the conventional vehicles they replaced, meeting a core requirement of the programs and reinforcing Cemex’s commitment to a more sustainable future.

This initiative continues Cemex’s efforts at other locations, particularly in Victorville, California, where multiple lower-emission locomotives were added to the fleet. In 2022, nearly 40 low-emission natural gas trucks were introduced to the Southern California fleet, replacing an equal number of older, diesel-powered vehicles. Additionally, in 2023, another lower-emission locomotive was put into service, supported by a $2.5 million grant from the EPA’s Targeted Airshed Grants (TAG) Program.

Decarbonizing its operations is a fundamental aspect of Cemex’s Future in Action program, which focuses on achieving sustainable excellence through climate action, circularity, and natural resource management with the primary objective of becoming a net-zero CO2 company by 2050.

About Cemex U.S.

Cemex is a global building materials company that provides high-quality products and reliable services with a rich history of improving the wellbeing of those it serves through innovative building solutions, efficiency advancements and sustainability efforts. Its U.S. network includes 8 cement plants, close to 50 strategically located cement terminals, nearly 50 aggregate quarries and more than 280 ready-mix concrete plants. Cemex U.S. has been repeatedly recognized for its efforts in sustainability and energy management, including earning U.S. EPA ENERGY STAR® Partner of the Year consecutively since 2019.

SOURCE Cemex USA

Investment will Fuel Renais Gin’s Expansion into North America and Elevate its Position in the Premium Spirits Market

CHICAGO, Jan. 6, 2025 — InvestBev, a leading private equity firm focused exclusively on the adult beverage industry, is excited to announce its significant equity investment in Renais, a rising premium spirits brand based in the United Kingdom. This investment aligns with InvestBev’s ongoing strategy to support innovative brands in the international spirits market, and further strengthens its portfolio within the high-growth gin category.

Renais—renowned for its meticulously crafted gin made from local botanicals and water sourced directly from the renowned winemaking regions in France—has quickly gained acclaim in the UK and European markets. The partnership with InvestBev will accelerate Renais’ expansion efforts, with plans to increase production capacity, extend distribution into North America, and launch a series of marketing campaigns designed to bring its unique offerings to a broader audience.

“We are thrilled to support Renais in its journey to become a globally recognized brand,” said Brian Rosen, General Partner at InvestBev. “The premium gin category continues to demonstrate remarkable potential, and Renais’ quality and innovative approach align perfectly with our strategic investment focus. We believe our capital—coupled with our deep industry expertise and network—will amplify Renais’ ability to reach new consumers and markets.”

InvestBev’s participation will also provide Renais with access to operational guidance and market insights that are critical for rapid growth in the competitive global spirits markets. With this support, Renais aims to bolster its brand presence while maintaining the craftsmanship and quality that sets this brand apart.

“This is an exciting milestone for Renais as we accelerate our growth strategy. We’ll be investing in talent and strategic hires to expand our market presence, capitalizing on the momentum from our launches in California and New York this year,” said Alex Watson, Co-founder and CEO of Renais. “While the gin market has traditionally been led by heritage brands, gin is gaining traction in the states, driven by customer preference for premiumization and the emerging ethos of ‘drink less, but better.’ With this injection of funds, Renais is poised to continue transforming the industry with our ambitious team, innovative distillation process, best-in-class content, and community engagement.”

This partnership continues InvestBev’s record of supporting brands that prioritize authenticity and innovation. InvestBev remains committed to fostering growth across all segments of the adult beverage industry, as demonstrated by its track record of successful partnerships with leading and emerging brands alike.

For more information about InvestBev’s investment in Renais, or to learn more about the firm’s portfolio and services, please visit: https://www.investbev.com/.

About Renais

Renais, a luxury modern gin co-founded by Alex and Emma Watson, is inspired by the beauty of French winemaking traditions and made possible by the rich combined efforts of distillers, artisans, and tastemakers working harmoniously across the United Kingdom and France. The Watson family’s rich winemaking history, which began three decades ago when award-winning winemaker and “Pilier” Chris Watson planted their vineyard Domaine Watson in Chablis, informs Renais’ commitment to craftsmanship and legacy.

Conscientiously distilled from upcycled Grand Cru grapes and tastefully married with all-natural botanicals, Renais Gin is equally as complex as it is silky smooth – proudly made for enjoying neat or mixing, shaking & stirring down into your favorite cocktails or with soda. A Certified B Corporation, Renais launched in the UK in May 2023, and has since established itself in the United States (2024), French, Italian, German, and Australian markets. For more information and where to purchase, visit www.renais.com and follow @renaisgin.

About InvestBev

Founded in 2015 by Brian Rosen, InvestBev Group is a premier private equity firm in the adult beverage industry, known for its short return windows and non-correlated investment strategy. Helmed by 3rd generation industry veteran Brian Rosen, InvestBev Group has raised nearly $200 million across four funds, a $100 million credit platform, and a low-cost insurance provider to distilleries. InvestBev is dedicated to supporting emerging brands and segments within the alcohol sector. Learn more: Website | LinkedIn

Press Contact:

Shannon Duer
845-548-1211

SOURCE InvestBev

The list honors the exceptional accomplishments of emerging venture capital professionals at the pre-partner level, highlighting their diverse expertise and impactful contributions to the industry.

NEW YORK, Jan. 6, 2025 — At Alpha Partners, we believe that relationships drive success in the venture capital industry. The 2024 Rising Star Pre-Partner Venture Investor list celebrates the next generation of venture talent that’s driving success by fostering deeper collaboration, developing bold strategies and fresh perspectives. This initiative is completely community driven and the people below were all recognized by one or more of their peers.

The 2024 selection process built upon prior years’ successes and further expanded Alpha Partners’ network of nominators. This year, over 300 VCs from around the world were invited to nominate pre-partner peers from other funds who they believe represent the future of venture capital. The response was remarkable, with over 175 votes for 130 junior VCs from 120 different VC firms.

All nominations reflected the thoughtful recognition of pre-partner VCs whose behind-the-scenes work is pivotal to the success of their firms and their portfolio companies. Their efforts are instrumental in shaping the future of venture capital while often remaining under the radar.

“We’re thrilled to recognize this year’s Rising Stars—not just for their incredible talents, but for the way they embody the collaborative spirit that makes venture capital such a rewarding space,” said Steve Brotman, Founder and Managing Partner at Alpha Partners. “At Alpha, we’re fortunate to work with so many incredible investors, and this initiative is a small way to celebrate their contributions.”

This initiative underscores Alpha Partners’ commitment to building a collaborative and inclusive venture ecosystem. By spotlighting the up-and-coming talent, we aim to strengthen connections and celebrate the individuals who are crucial to shaping the next great companies. Alpha Partners is proud to co-invest with our fellow investors into growth stage rounds to maximize their investment upside while celebrating the talent that drives their success.

Alpha Partners extends heartfelt gratitude to everyone who participated in the nomination process. Your insights and engagement play a crucial role in spotlighting the next generation of VC leaders.

Looking ahead, we invite the venture community to join us in recognizing the industry’s future leaders by contributing nominations for the 2025 list. Nominations can be submitted by emailing the Alpha Partners team at [email protected] or by completing this form. Together, we can celebrate the individuals whose work is driving the venture ecosystem forward.

And now, without further ado, we are excited to announce this year’s rising star investors.

Congratulations to you all.

The following nominees were recognized by more than one investor for their outstanding contributions to the venture capital community:

• Zach Jaffe, Glasswing Ventures
• Sakib Jamal, Crossbeam Ventures
• Daniel Paredes, Sierra Ventures
• Alexandra Burbey, Sound Ventures
• Andie Steinberg, Town Hall Ventures
• Bo Berluti, RTP Global
• Carter Bourassa, Moneta Ventures
• Max Harrison, Remarkable Ventures
• Ryan Peslis, Sidekick Partners
• Spencer Henry, White Star Capital
• Tamar Vidra, Red Sea Ventures
• Valentina Pidgaina, Vibranium

For the full list of 2024 nominees and contributing funds, find it here.

About Alpha Partners
At Alpha Partners, initiatives like the Rising Stars list are just one way we aim to support the venture community. Whether through providing resources for early-stage VCs to capitalize on their pro-rata rights, or fostering connections across our network of 1,000+ funds, Alpha Partners is dedicated to building a more inclusive and prosperous ecosystem for all.

SOURCE Alpha Partners

DENVER, Jan. 6, 2025 — Varana Capital is pleased to announce their role as lead investor in the initial closing of Arcuro Medical’s Series A financing round. This funding round, which includes participation from other notable investors, including Trendlines and Consensus Business Group, will support Arcuro’s next phase of growth and innovation. The Series A remains open for additional investment, offering further opportunities for stakeholders to join in advancing Arcuro Medical’s impactful work in the medical device industry.

“Our investment in Arcuro Medical is a testament to the Varana Capital Chai Fund’s mission to support Israeli companies making a global impact,” said Varana Capital Co-Founder and CIO Ezra Gardner. “As the largest Israeli opportunity fund, the Chai Fund was created to invest in transformative innovations, and Arcuro’s revolutionary medical technology exemplifies this by providing better outcomes for orthopedic injuries. If you know any surgeons specializing in knees, please refer them to us: We are confident we can make a meaningful impact on their practice and, most importantly, their patients’ lives.”

Jamal Rushdy, Arcuro Medical’s CEO, commented, “We are excited and grateful to welcome Varana Capital as the lead investor in our Series A, alongside our valued existing investors. Supported by this funding, our team is enthusiastic to kick off a strong 2025, delivering on our mission to assist surgeons in improving their patient’s quality of life.”

Arcuro Medical concluded a pivotal 2024 with several key achievements, including:

• Establishing a new U.S. organization and hiring key sales leadership
• Adding new U.S. and international distribution partners
• Achieving a significant product development milestone with the 510(k) submission of a new product line
• Surpassing 5,000 global SuperBall cases

These accomplishments position Arcuro Medical for significant growth as it enters 2025 with an enhanced product portfolio and expanded market reach.

MSK Innovations Pitch Event: A Closer Look at Arcuro Medical

Arcuro Medical will present at the MSK Innovations Pitch Event on Wednesday, January 8, 2025, at 2 PM PST / 5 PM EST. This virtual event provides an excellent opportunity for investors and stakeholders to gain deeper insights into the company’s vision and advancements. Interested participants can register [here].

About Arcuro Medical Ltd.

Arcuro Medical Ltd., a portfolio company of The Trendlines Group (SGX: 42T) (OTCQX: TRNLY), headquartered in Israel with U.S. operations in Minneapolis, Minnesota and Naples, Florida, was founded by executives with over 40 years’ combined experience developing and manufacturing minimally invasive orthopedic products, bringing medical devices from concept to market. Arcuro is expanding its established worldwide distribution network to introduce the SuperBall™ technology to healthcare professionals in every market. The company continues the development of game-changing technologies for sports medicine to improve patients’ lives. For more information on Arcuro and its products, visit arcuromedical.com and follow the company on LinkedIn.

About Varana Capital

Founded by Philip Broenniman and Ezra Gardner in 2012, Denver-based Varana Capital, LLC invests in and cooperatively engages with public and private companies, partnering with visionary leaders to create a global impact. For more information, visit Varana Capital’s Website, or visit Varana Capital’s LinkedIn page.

For media inquiries, please contact Kelci Jones ([email protected]).

SOURCE Varana Capital, LLC

GEORGE TOWN, Cayman Islands and NEW YORK, Jan. 6, 2025 — Catalyst Global Financial Group (Cayman) Ltd. (“Catalyst” or the “firm”), an innovative international financial services and technology firm, announces a significant growth investment from Aquiline, a private investment specialist with $11.3 billion of assets under management that invests across financial services and technology.

Catalyst is a financial services firm, offering fund administration, corporate services and client accounting services with an innovative approach that is leveraging state-of-the-art technology to disrupt the financial services landscape and elevate the client experience. Catalyst’s solutions employ sophisticated robotic process automation, artificial intelligence and client-facing applications to streamline operations, increase efficiency and deliver robust and dynamic reporting solutions for clients with a variety of onshore and offshore financial structures. By combining this technological mindset with a high-degree of client relationship management, Catalyst has positioned itself as a new breed of service provider – a technologically advanced and jurisdictionally focused partner.

Catalyst was founded in 2021 by a small team that shared a common vision of what “good” looks like in the modern age. Catalyst was also driven by a shared passion for working in a healthy, people-first culture.  With a combined 50 years of experience working for top-tier financial services institutions, the team shared a commitment to revolutionizing the industry by thinking outside the box and adopting a non-conventional approach to the way things are done. At present, the firm has grown to support a portfolio of more than 700 entities registered in the U.S., the Cayman Islands and Bahamas, with a combined AUA of over $13BN and annual revenues exceeding $14MM.

Aquiline’s investment (which is subject to CIMA approval) will act as a catalyst for growth as the firm plans to deliver the next generation of its technological capabilities to better service customer demands and adapt to the market environment. The capital injection will further allow the firm to scale its business, invest in its people and expand its market reach.

Benji Reid, Co-Founder and Co-Managing partner of Catalyst said: “Since Catalyst’s inception, we have always prided ourselves on being a boutique firm, founded by investors who truly understood our vision to always look to innovate and in doing so, to question the status quo. The last four years have been incredible for us as an organization, and we vastly exceeded all our growth targets. What I personally underestimated were the capital requirements and stresses that accompany a firm going through hyper growth and the importance of having growth capital to keep yourselves ahead of the curve. Recognizing this challenge, a year ago, we set about searching for a new (capital) partner to assist us in continuing our vision. After a lot of ‘blind dates’ we were introduced to the team at Aquiline. The experience of working with them has been nothing short of incredible. Their way of working coupled with their view on growth aligns perfectly with ours and I couldn’t be prouder and more excited about the investment in Catalyst. Having a true Capital partner that recognized the importance of Catalyst retaining its independence, while also having the ability to invest in its people and tech is very refreshing. Aquiline understands this and they are committed to enabling our team to do what it does best.”

Tim Gravely, Partner and Head of Credit at Aquiline said: “We are thrilled to partner with Catalyst as they continue to redefine financial services through technology and client-centric innovation. Their dedication to leveraging advanced automation and AI while maintaining exceptional client service sets them apart in the industry. We look forward to supporting their next phase of expansion and helping them achieve even greater success in the market.”

The transaction is subject to regulatory approval by the Cayman Islands Monetary Authority.

Harney Westwood & Riegels LLP, Mourant Ozannes (Cayman) LLP and Seward & Kissel LLP are serving as legal advisers to Catalyst.

About Catalyst
Catalyst Group is a global financial services firm specializing in fund administration, corporate services, and financial accounting. Utilizing advanced technology and automation, Catalyst delivers precise and efficient solutions tailored to meet the needs of its clients. Headquartered in the Cayman Islands, Catalyst has operational teams in five jurisdictions worldwide, servicing 700+ entities with approximately $14 billion in Assets Under Administration (AUA). With a focus on exceptional client service, Catalyst combines deep industry knowledge with innovative practices to support its clients’ success.

About Aquiline
Aquiline Capital Partners LP (“Aquiline”) is a private investment firm based in New York, London, and Philadelphia, that is dedicated to financial services and technology. As of September 30, 2024, Aquiline has approximately $11.3 billion of assets under management and has deployed approximately $7.0 billion of capital across the firm’s three strategies in private equity, venture, and credit.
For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

“The Catalyst Group” refers to Catalyst Global Financial Group (Cayman) Ltd., the Cayman Islands holding company of Catalyst Fund Administration LLC, Catalyst Fund Administration Ltd and Catalyst Fund Services Ltd, collectively (“The member firms”). Services are delivered by the member firms.

Catalyst Contact
Stuart Wright
Director – Corporate Development & Strategy
The Catalyst Group
[email protected]
+1(345)323-1156
www.thecatalystgroup.com

Aquiline Contact
Anthony Silverman
Apella Advisors
[email protected]
+44 (0)7818 036579

SOURCE The Catalyst Group

Proceeds from the financing will be used to broaden and improve the company’s offerings and for operational expansion across facilities, quality, and commercial.

CAMARILLO, Calif., Jan. 6, 2025 — PBS Biotech (“PBS”), a provider of innovative single-use bioreactor systems and bioprocess development services, has secured $17 million in follow-on growth capital from Avego Management, LLC (“Avego”) and BroadOak Capital Partners (“BroadOak”). This investment will accelerate PBS’ new product innovation, process development services, and quality system improvements, further advancing the cell therapy industry and helping their customers bring life-saving therapies to market faster.

The company is also expanding its ISO 9001:2015 manufacturing capacity, which will be completed by mid-2025, to support more than $100 million in annual revenue and to demonstrate readiness to meet customers’ demands as they scale up from clinical trials to regulatory approval and commercialization.

PBS is excited to welcome Terrell Mathews as Chief Commercial Officer and Erik Wiberg as Chief Financial Officer. Terrell brings over 20 years of global customer experience in sales and marketing, while Erik offers more than 25 years of financial leadership in life sciences and technology. Their combined experience at organizations such as Danaher, Thermo Fisher, Gyros Protein Technologies, and Resolve Biosciences will propel PBS’ strategic growth and strengthen its market position while also increasing customer support through geographic expansion and new product and applications development.

“These significant milestones mark an exciting phase for PBS Biotech,” said Dr. Brian Lee, CEO of PBS. “The continued support of Avego and BroadOak underscores the confidence of existing investors in our technology and market potential. Additionally, the appointments of Terrell and Erik bring unparalleled expertise and leadership to our executive team as we scale our business to meet the growing demands of the cell and gene therapy industry.”

PBS’ Vertical-Wheel^® bioreactors have demonstrated superior performance for production of therapeutic cells designed as regenerative medicines for conditions like diabetes, cancer, and heart disease. PBS serves companies developing the next generation of cell therapies, with the ultimate focus on benefiting the end patients who are in desperate need of more effective treatments than the ones currently available in the marketplace.

About PBS Biotech (“PBS”)

PBS Biotech is a leading manufacturer of single-use bioreactor systems and provider of process development services. PBS’ bioreactors utilize proprietary Vertical-Wheel^® technology to create homogeneous and scalable mixing conditions for a variety of sensitive cell therapy products and cell culture applications. PBS Biotech’s vision is to become the world’s standard manufacturing platform for allogeneic cell-based therapies. To learn more, visit pbsbiotech.com.

About Avego Management, LLC (“Avego”)

Avego, founded in 2015 by former healthcare entrepreneurs, is a multi-strategy healthcare-focused investment firm with offices in New York and Georgia. Through its three strategies, which include private equity, venture capital, and a long/short fund, Avego invests in private and public companies developing and commercializing innovative products and services for patients, practitioners, and other stakeholders across the healthcare continuum. To learn more about Avego, visit avego.com

About BroadOak Capital Partners (“BroadOak”)

BroadOak Capital Partners is a life science focused, boutique financial institution that provides direct investment and investment banking services to companies in the research tools and consumables, diagnostics, and biopharma services sectors. BroadOak has led or participated in investments in over 70 companies across multiple funds and investment vehicles. To learn more about BroadOak, visit broadoak.com

Learn more about PBS Biotech at www.PBSBiotech.com

SOURCE PBS Biotech Inc.

The company will use the capital to accelerate the development of treatments targeting undruggable proteins associated with cancer, cardiometabolic disease, neurodegeneration, and longevity

• General Proximity’s proprietary OmniTAC platform enables the precise and selective modification of disease-driving proteins, creating therapeutic opportunities for traditionally undruggable targets.
• General Proximity’s $8M seed round was led by Aydin Senkut at Felicis.
• Pre-seed funding was led by Y Combinator and Jim Dahl (Rock Creek).
• General Proximity is also funded by a number of top technical investors such as age1, Modi Ventures, and Wilson Sonsini with non-dilutive grants from prestigious institutions such as ARPA-H and the NIH’s National Cancer Institute.
• The company’s first wave of drug candidates are focused on oncology, cardiometabolic disease, neurodegenerative diseases, and longevity, areas where unmet medical needs are profound.
• With a potential addressable market exceeding $250 billion/year, General Proximity aims to create a new paradigm in therapeutic discovery.

SAN FRANCISCO, Jan. 3, 2025 — General Proximity, a breakthrough biotech platform company, today announced its emergence from stealth, unveiling its proprietary OmniTAC platform designed to pioneer the next generation of induced proximity medicines. The company has raised $16 million to accelerate the development of treatments targeting undruggable proteins associated with cancer, cardiometabolic disease, neurodegeneration, and longevity.

“We believe proximity medicines are the future of small-molecule drug discovery and have the potential to lower global disease burden more than any other current therapeutic modality,” said Armand B. Cognetta III, PhD, Founder and CEO of General Proximity. “Biological proximity—the nearness or interaction of two or more (macro)molecules—is a master regulator of biology. By achieving precise control of proximity through our OmniTAC platform, we are able to modulate ‘undruggable’ targets more effectively than other approaches. Control of proximity equals control of biology.”

The oversubscribed seed round was led by Aydin Senkut, founder and managing partner at Felicis, a firm renowned for backing biotech trailblazers such as Recursion, Ginkgo Bioworks, and BioAge.

“It was clear from our first meeting with Armand that General Proximity is going to be one of the technologies that propels us towards cures for cancer and many other diseases,” said Senkut. “We quickly became convinced that their cutting-edge proximity approach would enable them to solve some of the most ambitious and consequential challenges in drug discovery, paving the way for a bold new era of human healthspan and longevity extension.”

Other notable investors include Y Combinator, age1, Modi Ventures, Wilson Sonsini, as well as a number of prestigious angel investors including Jeff Dean (Head of Google AI), Uri Lopatin (Khosla, YC, Pardes), Ben Mann (Co-Author GPT-3, Co-Founder Anthropic), Alec Nielsen (CEO Asimov), Trevor Martin (CEO Mammoth), Juan Benet (Founder Filecoin), Nish Bhat (Co-Founder Color Health), Jim Dahl (Rock Creek Capital), and De Thompson V (Legends Capital).

General Proximity is the brainchild of Armand, a veteran of renowned chemical biologist Benjamin Cravatt’s research group. The founding team behind General Proximity includes an array of top scientists from institutions such as Scripps Research Institute, the Broad Institute of Harvard/MIT, Yale, Oxford, Cambridge, UPenn, Johns Hopkins, Columbia, and UCSF, with deep experience from top pharmaceutical companies (Novartis, Merck, GSK, Genentech, Roche, and Alnylam), as well as multiple veterans from the labs of induced proximity pioneers Craig Crews and Amit Choudhary.

General Proximity has assembled a world-class Scientific & Strategic Advisory Board featuring key opinion leaders from top biotechnology and pharmaceutical companies such as Martin Babler (Genentech, Principia, Alumis), Lawrence Hamann (Bristol-Myers Squibb, Novartis, Celgene, Takeda, Interdict), and Andy Crew (Astellas, Arvinas, Siduma) alongside a number of academic experts in cancer biology and neurodegeneration.

In total, the team is responsible for hundreds of peer reviewed articles and patents and has been a driving force behind over 200 clinical programs and 36 FDA approved medicines.

The team has also attracted significant interest from the pharmaceutical industry, securing a record five ‘Golden Ticket’ awards from major pharma pitch competitions (AbbVie, Servier, Astellas, Ono, Bristol-Myers Squibb) and winning a coveted spot in Johnson & Johnson’s JLabs biotech incubator.

For more information about General Proximity and its innovative platform, please visit https://generalproximity.bio.

About General Proximity

General Proximity is a seed stage biotechnology platform company founded in 2019 to pioneer the next generation of induced proximity medicines for undruggable targets. Investors include Y Combinator, Felicis, age1, Wilson Sonsini, and Modi Ventures. General Proximity is headquartered in San Francisco, California.

About Felicis

Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. Felicis focuses on early-stage investments and currently manages over $3B in capital across 9 funds. The firm is an early backer of more than 45 companies valued at $1B+. More than 100 of its portfolio companies have been acquired or gone public, including Adyen (IPO), Credit Karma (acq by Intuit), Cruise (acq by General Motors), Fitbit (IPO), Guardant Health (IPO), Meraki (acq by Cisco), Ring (acq by Amazon), and Shopify (IPO). The firm is based in Menlo Park and San Francisco in California. Learn more at felicis.com.

SOURCE General Proximity