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.

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.

Contacts:

Lori Kagan
GT Medical Technologies
[email protected]
(941) 224-6037

Dawn Fallon
New Dawn Communications
[email protected]
(732) 771-7808

SOURCE GT Medical Technologies

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Fundraise brings 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 studies^1,2 validate previous research^3-5 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

1. 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
2. Data on file, Inflammatix, Inc.
3. 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.
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.
5. 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.
6. Sepsis. U.S. Department of Health and Human Services, National Institutes of Health, National Institute of General Medical Sciences; 2024. https://www.nigms.nih.gov/education/fact-sheets/Pages/sepsis.aspx?ref=prendi-il-controllo-della-tua-salute.com#:~:text=Each%20year%2C%20according%20to%20the,350%2C000%20die%20as%20a%20result.
7. Frank CE, Buchman TG, Simpson SQ, et al. Sepsis among Medicare beneficiaries: 4. Precoronavirus Disease 2019 Update January 2012-February 2020. Crit Care Med. 2021;49(12):2058-2069. doi: 10.1097/CCM.0000000000005332.

SOURCE Inflammatix

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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.

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.

For media inquiries, please contact: [email protected]

SOURCE 10 Federal

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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.

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/ 

Photo – https://mma.prnewswire.com/media/2503213/Huma_Arf_Founders.jpg

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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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World’s smallest projection display for AR smart glasses and automotive applications

VIENNA, Sept. 11, 2024 — TriLite, the developer of the world’s smallest projection display, has successfully completed an extended Series A funding round, raising its total Series A funding to more than €20 million. This round saw significant investments from two strategic investors – Continental’s Corporate Venture Capital Unit and an undisclosed global electronics supplier for TriLite’s Trixel® 3 projection display.

With their extensive industry knowledge, technical expertise and operational resources, the   strategic investors will further accelerate TriLite’s go-to-market success. Their involvement confirms TriLite’s commitment to advancing its footprint in both the augmented reality (AR) and automotive markets.

“TriLite has developed an outstanding display solution for AR applications and Continental places high value on TriLite’s innovative technology. Beyond consumer applications we see high potential in various automotive applications,” said Jürgen Bilo, Managing Director der Continental Corporate Venture Capital Unit.

Existing financial investors APEX Ventures, B&C Innovation Investments and TEC Ventures also participated in this round. Their long-term guidance and support have been pivotal in scaling TriLite’s operations and bringing its innovative technologies to market. Their continued confidence underscores the robustness of TriLite’s business strategy and technological advancements.

“TriLite has proven the function and the product-to-market fit of its Laser Beam Scanning (LBS) technology for high-volume consumer applications. With this latest funding and the expertise of our strategic investors, we will qualify and industrialize our LBS optical engine for consumer AR systems and automotive applications,” stated Dr. Peter Weigand, CEO of TriLite.

Weigand added, “Our shareholder base consists of world-class and globally leading companies and financial investors. Our technology and our business strategy are consistently being evaluated very positively by customers and investors. This latest investment will enable us to focus on mass production and further improve our leading intellectual property (IP) position.”

TriLite’s Trixel® 3 projector offers unprecedented image performance and brightness in an ultra-compact display, enabling original design manufacturers (ODMs) and original equipment manufacturers (OEMs) to develop consumer AR smart glasses and automotive driver information and passenger comfort applications.

About TriLite
TriLite designs and builds the world’s smallest projection displays and ensures that everyone can enjoy augmented vision as lightweight as the eyewear of today. TriLite’s display solutions are based on proprietary, multi-parameter algorithms and deploy advanced machine learning algorithms to generate laser beam scanning devices with unprecedented size, weight and image quality. An outstanding team of multidisciplinary researchers and manufacturing experts stands behind TriLite’s multiple-patented technology. TriLite enables its customers to accelerate the availability of leading-edge display solutions for mass market Augmented Reality applications.

See www.trilite-tech.com

About Continental
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2023, Continental generated sales of €41.4 billion, and currently employs around 200,000 people in 56 countries and markets.

About Continental Corporate Venture Capital 
Continental’s Corporate Venture Capital (CVC) unit invests in young technology companies, giving startups direct access to Continental’s global mobility and industry expertise. The CVC unit focuses on early-stage companies that operate in Continental’s long-term, strategic growth areas. Founded in 2018, it aims to foster innovation rapidly and effectively in order to accelerate transformation across industries.

About APEX Ventures
APEX Ventures is a European venture capital firm focusing on deep tech companies. The team act not only as investors but also as company builders with a mission to support the most talented startup teams in building global market leaders. The team is based in Vienna and Munich. www.apex.ventures

About B&C Innovation Investments
The B&C Group invests in expanding technology-focused businesses that support ‘old economy’ industrial companies with digitalization and/or optimization. It makes these investments through B&C Innovation Investments GmbH (BCII, www.innovation-investments.at). By investing in industrial tech scale-ups – and through its majority holdings in AMAG, Lenzing and Semperit and its long-standing research funding activities – the B&C Group aims to strengthen Austria’s standing as a business location.

About TEC Ventures
TEC Ventures is the venture capital arm of the Goede Group, a family-owned corporation headquartered in Germany, focused on investments from the seed- to the early expansion phase. We invest in promising start-up teams with technical and innovative products and business models in strong growth or future markets, with the aim of building a market-leading company. We do not only support our portfolio companies with capital, but also with operational and strategic alignment and a broad network of companies, partners and experts from various specialist areas. www.tec-ventures.com

Photo: https://mma.prnewswire.com/media/2497711/Trixel_Projection_Display.jpg
Photo: https://mma.prnewswire.com/media/2497758/Trixel_3RGB_Module.jpg
Logo: https://mma.prnewswire.com/media/2497710/Trilite_Logo.jpg

SOURCE TriLite

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• On track for commercial-scale production of actinium-225, which is crucial to a new class of targeted treatments for cancer
• Largest Series A in life sciences sector in Belgium to date; led by EQT Life Sciences
• Total of EUR 134 million raised including funding secured through EUR 7.2 million equity from IBA and SFPIM, and EUR 33.8 million debt financing

STOCKHOLM, Sept. 11, 2024 — EQT Life Sciences is pleased to announce that it has led a EUR 93 million oversubscribed Series A fundraise in PanTera, the Belgian radioisotope producer. With additional equity and debt funding, the total amount raised is EUR 134 million. The round was also joined by Kurma Partners, Eurazeo, Korys, Paladin and PMV. Alongside this, IBA, the world leader in particle accelerator technology, and SFPIM, a Belgian sovereign fund, will convert into equity EUR 7.2 million convertible loans.

PanTera was founded in 2022 with the primary goal of enabling large-scale production of actinium-225 (225Ac), which is crucial to enable a new class of targeted cancer treatments known as Targeted Alpha Therapy. The funds raised will be used primarily to support the construction of a state-of-the-art production facility in Belgium.

Targeted Alpha Therapy is a promising new cancer treatment approach that enables safe and effective delivery of radiation to the cancer cells by radioisotopes that emit highly energetic alpha particles. The radiation effect of the alpha particle is more localized compared to other approaches and as such can destroy the cancer cells to which it is attached without harming surrounding healthy tissue. The most promising alpha emitter for this approach is 225Ac. As a result, demand for 225Ac is increasing rapidly as drug-development companies look to scale-up clinical trials across a range of different cancers and seek regulatory approvals. However, dependable, scalable and sustainable methods for producing 225Ac are complex and require advanced nuclear infrastructure, which has resulted in a global shortage of the isotope.

PanTera is working to solve this global shortage. The Company’s unique, patented photo-nuclear “gamma” production process transforms Radium-226 (226Ra) into Radium-225 (225Ra), which in turn decays into 225Ac. This process provides a reliable, safe and high-quality supply of 225Ac, not only for clinical trials but also for future commercial radiopharmaceutical therapies, the first of which are due to be on the market in 2028-2029. PanTera’s process and infrastructure is designed to enable the annual production of more than 100 Curies (Ci) of clinical grade 225Ac by 2029, allowing treatment of more than 100,000 patients per year. The combination of SCK CEN’s unmatched large stock of pure 226Ra and IBA’s Rhodotron^® electron accelerator, positions PanTera to become a highly successful and reliable producer of this key medical radioisotope.

In parallel to its effort to develop commercial-scale production of 225Ac, PanTera is already providing early 225Ac supply through an alternative production method. Working in collaboration with TerraPower Isotopes, PanTera is on track to provide 1.5-2 Ci of 225Ac annually from early 2025. With today’s current global supply estimated at 3 Ci annually, this will be a significant contribution to drug development. PanTera has signed supply agreements with several pharmaceutical companies, including Bayer, and expects to have secured agreements for more than 80% of its capacity before starting production.

Sven Van den Berghe, CEO of PanTera, said: “PanTera is looking to radically improve supply in the short and long term, in order to ensure that this potentially life-saving, highly innovative modality can reach patients. The size of this raise is testament to our strategy, our unique assets and our capabilities. We are working alongside very experienced partners with a combined expertise and a network that goes well beyond 225Ac production and encompasses all aspects of the radiopharmaceutical revolution. With this funding, we are now en route to realise our vision of providing a “Better Fight for Life” to cancer patients worldwide by becoming a dependable global 225Ac supplier.”

Martijn Kleijwegt, Partner at EQT Life Sciences, commented: “It is clear to us that PanTera has the expertise, assets and strategy in place to address the critical actinium-225 supply shortage faced by the pharmaceutical industry today, as well as the significant increase in demand expected in the future. EQT is one of the world’s largest healthcare investors and we are committed to supporting pioneering ventures, like PanTera, to reach their fullest potential. We are excited to partner with the PanTera team, alongside IBA, SCK CEN and our fellow investors, on the next phase of PanTera’s development.”

Contact
EQT Press Office, [email protected] 

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

https://news.cision.com/eqt/r/eqt-life-sciences-leads-eur-93-million-oversubscribed-series-a-round-in-pantera–which-aims-to-accel,c4035711

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