NEW YORK, Feb. 27, 2024 — Developers are the new technology buyers in the modern AI-driven world. The2023 StackOverflow Survey showed 66% of developers influence their company’s tech purchases. The Boston Consulting Group report ‘The Growing Influence of Developers in Enterprise Tech Sales‘ echoes this trend.

Reo.Dev, a Delaware and Bangalore based tech startup, offers a product that accelerates sales for such tech companies where developers play a role in product purchase. It uses AI to analyse developer intent from millions of open source, public, and first-party data sources.

After initial success with global dev-focused clientele including popular open source companies in US and Europe, Reo.Dev today announced its $1.2M pre-seed round led byIndia Quotient. Notable angel investorsAdam Frankl, ex-VP marketing at JFrog and Sourcegraph,Savin Goyal of Netflix and Outerbounds andShraddha Gupta of Hasura also participated in the round.

For developer-focused companies, purchase intent resides in developer activity around their products. However, this activity is often anonymous and dispersed across channels, making it challenging to identify interested accounts and developers. Reo.Dev uncovers hidden developer activity turning it into accounts and developer leads. Sales teams use this data to identify in-market accounts while marketing teams leverage it to enhance campaign ROI.

Led byAchintya Gupta,Gaurav Jain, andPiyush Agarwal, all 2X founders, Reo.Dev’s team has significant startup experience. Piyush’s AI edtech startup was acquired by Byju’s, Achintya co-founded a DevTool startup, and Gaurav was a fintech startup’s co-founder and CTO.

“The sales processes for new age tech companies are changing. Historically, there was just the business buyer who was a key decision maker. But now there is an additional, increasingly influential buyer – the developer or the tech user. We feel the sales tooling for this changed GTM motion will be fundamentally different and we are building for that,” Co-founder and CEO, Achintya Gupta, said.

“Developers are driving the next trillion dollar infra and AI wave. We have seen changing buyer behaviour always calls for new sales software and we feltReo.Dev will be the right team to build this,” said Anand Lunia, General Partner at India Quotient.

Photo: https://mma.prnewswire.com/media/2348537/Reo_Dev_Founders.jpg
Logo: https://mma.prnewswire.com/media/2348456/Reo_Dev_Logo.jpg

SOURCE Reodotdev Inc.

SALT LAKE CITY, Feb. 27, 2024 — Red Door Capital Partners, LLC, an independent private equity firm founded in 2019, alongside its investing partner, Fomento Associated Singapore Holdings Pte. Ltd. (FASH) is proud to announce an add-on investment in Adapt Ideations.  Also participating in the round is one of Adapt’s key strategic partners.  Adapt Ideations specializes in providing innovative supply chain and logistics solutions to the Cold Chain and a variety of other industry sectors. They offer a wide range of IoT (“Internet of Things”) enabled asset tracking and monitoring solutions to enhance supply chain visibility and ensure adherence to compliance and regulations. (http://www.adaptideations.com). 

Red Door and FASH, both investors in Adapt’s Pre-Series round in late 2021 and Convertible Notes in 3^rd QTR 2022 and 2023, have partnered together for this investment round being termed as the Restructure Round.  The Restructure Round supports a bridge loan, conversion of the existing Convertible Notes and the corporate reorganization of the company into a U.S. based holding company.  The investment also provides the Restructure Round investors with control of the Board of Directors and other governance controls.  Upon the completion of the Restructure Round the bridge loan will be converted into a newly created Senior Preferred Stock in the new holding company.

“We have learned a lot since our initial investment” says Richard Wolpow, Managing Partner.  “We invested in a best of class technology with Adapt’s Internet of Things (IoT) offerings, combining its hardware devices and SaaS model software.  However, as with all start-ups, Adapt has had their share of challenges and growing pains which only further exasperated managing operations in four countries.  The positive to it all has been the unwavering support of Adapt’s strategic partners and clients such as; DHL, PwC, Onset, Cold Chain Technologies, etc., the list goes on. 

With this investment round we now have the control needed to bring in additional resources in support of the company’s growth strategy.  This started with the appointment of Red Door’s Managing Director on the deal, Don Warriner, as interim President & CEO who will be supported by Co-founders Anirban Gupta and Sai Kiran, COO Cheryl Vance, CFO Sandeep Jain and CRO Jody Radoff.  In addition, we have engaged best-in-class consultants to help Adapt evolve.  This includes DBI Network US Inc., a global consulting network specializing in strategy, product and service innovation, and supply chain transformation, as well as Rakesh Bhatia of RubikSolutions LLC. 

Rakesh, a former Big-4 senior partner (PwC and KPMG) brings deep leadership experience in scaling operations, building emerging technology solutions and global talent in 12+ countries. Rakesh previously led PwC’s US Global Business Services along with many other titles including; Global Relationship Partner and Board Member of the PwC Acceleration Center. All this is just a long-winded way to say; we are more excited than ever about the future for Adapt and we are building a first-class team for the mission”.  Wolpow concluded.       

Don Warriner, Interim President and CO commented, “With the recent completed Restructure Round, Adapt is well positioned to become the Global Leader in Cold Chain Supply Intelligence for global pharma, food companies and other cold chain companies.  With a robust, scalable technical platform, our future product/service roadmap will enable our clients to track and trace temperature sensitive cargo on a real-time basis coupled with fingertip access to compliance, audit and Ai driven decision support information. Companies are striving every day to make more informed decisions, be more efficient, eliminate waste and focus on corporate sustainability initiatives.”

Rakesh Bhatia commented “I am excited to work closely with Richard, Don and management team to help strategically transform Adapt to capture its true market potential. I truly believe that with new focus on maturing and scaling Adapt operations, leveraging emerging technologies and a thoughtful go to market strategy will position Adapt as a formidable player in the supply chain asset tracking field”.

“FASH sees a high trajectory for Adapt’s excellent suite of Iot products and services” says Flavian Santhiapillai, Chief Operating Officer of FASH.  “With this Restructure Round and strategic re-organization of Adapt we are setting in place the core personnel, infrastructure and support network to enable Adapt to focus on key geographies & product lines to become a truly global player in supply chain and logistics. We look forward to a continued partnership with Red Door, Onset and all out consultants to achieve this goal”.

“The Restructure Round demonstrates our ability to quickly respond and adapt to market changes without losing momentum”, asserts Co-Founder, Director Anirban Gupta. “The increased investment in ADAPT Ideations by RDCP & FASH bears testimony to their trust and confidence in the team and the venture as global enterprises move towards increased supply chain digitisation and adoption of our smart platforms. We, as founders, are excited to welcome and support Don Warriner and Rakesh Bhatia, who are highly experienced & decorated industry professionals, as they prepare to lead ADAPT’s transformation journey.”

About Red Door Capital Partners LLC:
The Red Door team is a group of seasoned entrepreneurial experts from private equity operations, investments & wealth management, and legal services, that have joined together to identify, invest in, and manage private equity transactions.  Red Door invests side-by-side along with its network of High-Net-Worth Individuals, Family Offices and Registered Investment Advisors (RIA’s).  Red Door partners with founders and entrepreneurs that seek real capital partners to create collaborative relationships, deploy strategic oversight, implement governance, and professionalize operations – all to ensure our family of investors are protected and prepared for a successful exit transaction. 

For more information on Red Door and its latest transactions visit www.reddoorcp.com
or contact   Don Warriner, Managing Director, Adapt Ideations,  [email protected]

About Adapt Ideations:
Adapt Ideations was founded based on the concept that there is a greater need for information digitization to unlock the power of asset intelligence for timely and proactive business decisions.  This led the company to implement the most advanced and innovative technology in asset tracking and monitoring solutions to allow companies to remain competitive and achieve greater operational efficiency.  Adapt Ideations specializes in providing innovative supply chain and logistics solutions to a variety of industry sectors. They offer a wide range of IoT (“Internet of Things”) enabled asset tracking and monitoring solutions to enhance supply chain visibility and ensure adherence to compliance and regulations. 

For more information on Adapt Ideation visit http://www.adaptideations.com,
Or contact Jody Radoff, Chief Revenue Officer @ [email protected]

SOURCE Red Door Capital Partners, LLC

-Pioneers novel approach to restore the body’s natural ability to grow hair by reactivating dormant hair follicle stem cells

-Phase I clinical data meets primary safety endpoints and shows statistically significant stem cell activation in hair follicles after one week of treatment with PP405; Phase 2 clinical trial to begin in mid-2024

-Announces the appointment of Qing Yu Christina Weng, M.D., as Chief Medical Officer

LOS ANGELES , Feb. 27, 2024 — Pelage Pharmaceuticals, a clinical-stage regenerative medicine company pioneering a new generation of treatments for hair loss, announced today that the company has closed a $16.75 million Series A financing led by GV with participation from Main Street Advisors, Visionary Ventures and YK BioVentures, to advance a first-in-class treatment for androgenetic alopecia or pattern baldness, and other types of alopecia including chemotherapy-induced hair loss.

“Our scientific co-founders have uncovered a unique biological mechanism with the potential to reactivate hair growth in people with alopecia,” said Daniel Gil, Ph.D., Chief Executive Officer, Pelage Pharmaceuticals. “We are pleased to announce that we have completed a first-in-human Phase 1 clinical trial that demonstrated seven days of topical dosing with PP405 was safe and well-tolerated, and showed statistically significant activation of hair follicle stem cells. With the support of GV, Main Street Advisors and other top-tier investors, we expect to advance our lead program to a Phase 2a clinical trial in the second half of this year.”

The Phase 1 trial evaluating PP405, a novel topical agent designed to treat androgenetic alopecia and other forms of hair loss, showed 0.05% PP405 topical treatment for seven days is safe and tolerable with no adverse events, and provided confirmation of a daily dosing regimen. Importantly, the study demonstrated biological activity, proof of mechanism of action seen in preclinical studies, and showed treatment with PP405 stimulated statistically significant activation of a critical hair follicle stem cell activation marker. Translational data will be presented at the American Academy of Dermatology meeting in March.

Androgenetic alopecia, also known as pattern balding, is the most common form of alopecia and accounts for more than 90% of all hair loss, impacting both men and women. Additionally, PP405 may also have applications for other types of hair loss such as telogen effluvium (stress-induced hair loss) and chemotherapy-induced hair loss.

“What we’ve observed is that in people who experience hair loss, the actual hair follicle stem cells are still present but have reverted to a dormant state. We have uncovered a small molecule able to stimulate cellular metabolism to re-awaken hair follicle stem cells and spur new hair growth,” said William Lowry, Ph.D., scientific co-founder, Pelage Pharmaceuticals. The discovery was made by Drs. Lowry, Heather Christofk and Michael Jung, of the University of California, Los Angeles. PP405 is designed to inhibit the mitochondrial pyruvate carrier (MPC) to specifically reactivate the dormant hair follicle stem cells.

“Hair loss is an incredibly common health problem with few effective solutions,” said Cathy Friedman, Executive Venture Partner, GV and Board Director, Pelage Pharmaceuticals. “GV is excited by the incredible science behind the Pelage technology. Pelage is pioneering an innovative approach with the potential to disrupt the treatment landscape, moving beyond agents that merely slow the progression of hair loss to a treatment solution that actually helps to regrow hair.”    

Along with the financing and Phase 1 topline data, Pelage has announced the appointment of Qing Yu Christina Weng, M.D., as the company’s Chief Medical Officer (CMO). Dr. Weng is a physician-scientist, Harvard-trained board-certified dermatologist at Massachusetts General Hospital, and faculty at Harvard Medical School. In addition to her clinical expertise, Dr. Weng brings a background in corporate startup strategy and business development. At Pelage, Dr. Weng’s experience will inform the company’s development of PP405 as it advances to Phase 2 studies.

“The current therapeutic landscape is dominated by reformulations of existing products. Pelage is built on rigorous science and offers the opportunity to target the follicle stem cells directly,” said Dr. Weng. “I am thrilled to work with the Pelage team to advance this discovery in pursuit of a novel non-invasive solution for all people who experience hair loss.”  

About Pelage Pharmaceuticals

Pelage Pharmaceuticals is a clinical-stage regenerative medicine company developing novel treatments for hair loss including androgenetic alopecia and chemotherapy-induced-alopecia. With a focus on molecular and stem cell biology, Pelage is advancing a new class of treatments designed to reactivate dormant hair follicle stem cells and restore the body’s ability to naturally grow hair. Its lead program, PP405, is currently in clinical trials. Through its rigorous scientific foundation, topical formulation, and novel mechanism of action, Pelage is pioneering first-in-class hair growth solutions for people of all hair types experiencing hair loss.

About PP405

PP405 is a novel, non-invasive, topical small molecule designed to reactivate dormant hair follicle stem cells and restart hair growth. Through a regenerative medicine approach, the treatment focuses on addressing the metabolic processes that regulate the activation and inactivation phases of hair follicle stem cells. Early results from a Phase 1 trial show that PP405 was well-tolerated and demonstrated statistically significant activation of hair follicle stem cells. In 2018, Pelage Pharmaceuticals licensed the intellectual property to PP405 and related topical small molecules from the UCLA Technology Development Group.

SOURCE Pelage Pharmaceuticals

SAN FRANCISCO, Feb. 27, 2024 — Copec WIND Ventures, the strategic venture capital arm of Copec, a leading energy company in Latin America, today announced the results of its fourth annual survey of the venture capital community’s outlook on global growth markets outside of North America and Europe.

“In the ever-evolving landscape of global venture capital, Copec WIND Ventures’ fourth annual survey reveals a notable shift in sentiment since we started this survey in 2020, positioning Latin America as the preferred growth market for startups,” said Brian Walsh, head of WIND Ventures. “We believe the surge in optimism for Latin America’s innovation landscape underscores the region’s tech-enabled transformation.”

Latin America dethrones China as top growth market in the eyes of VCs

According to this year’s survey, VCs’ view of which markets are best for startup expansion outside of North America and Western Europe has evolved dramatically. In 2023 Latin America (LatAm) came out as the best growth market, with 37% of VCs choosing the region as the most compelling, while only 13% believe that China is the most compelling.  This is a shift from the 2020 survey that indicated China was the best with 37% and LatAm with only 8%.   

VC sentiment is also shying away from Southeast Asia as an attractive startup growth market with interest dropping 51% from 2020 to 2023.

Market size viewed as most important aspect when considering new regions

For the past four years, VCs have defined attributes most important when expanding to a new region as large market size and high rate of tech adoption. There was a significant increase in perception amongst venture capitalists that Latin America has these growth elements (33%), while sentiment on China (13%) and Southeast Asia (7%) decreased. 

Fintech viewed as hottest area of investment in LatAm, climate tech lagging

The research also honed in on specific sectors that continue to show promise, with 51% of VCs surveyed indicating fintech will remain the hottest investment area in LatAm, while climate tech and energy came second and third 17% and 15%, respectively, highlighting the need of getting new energy and climate solutions into emerging markets where they are urgently needed.

For startups expanding to Latin America, VCs have consistently perceived political risk as the key challenge

The primary perceived challenge for startup expansion into Latin America is perceived by VCs to be political (89%). Since 2020, however, VC perception around economic or cultural risk to startup growth in Latin America has consistently improved year over year with both improving approximately 9% since 2020.

“The Latin American region’s potential for explosive technology adoption is driven by the region’s digital transformation and a total market size larger than that of the United States – 650 million people – and it is great to see investor perception continue to acknowledge this”, said Brian Walsh, Head of Copec WIND Ventures. “We look forward to continuing our work in helping global startups capture the vast opportunities in the dynamic Latin American markets.”

In the Fall of 2023, WIND Ventures surveyed 50 venture capitalists from a diverse cross-section of professionals, including venture capitalists and corporate venture capitalists. While the majority (53%) of those surveyed were early-stage investors, 32% were seed-stage investors, and 15% were growth investors. 

The full findings can be found here: https://bit.ly/3SL10s6

About Copec WIND Ventures

Based in San Francisco, Copec WIND Ventures is the corporate venture capital (CVC) arm of Copec, one of the leading energy, mobility, and retail companies in Central and South America and one of the most valued brands throughout Latin America. WIND Ventures leverages Copec’s significant resources to accelerate growth, primarily within Latin America, for startups and scaleups across the world within the new mobility, energy, and retail sectors. Visit windventures.vc or follow us on Linkedin and Twitter.

Media Contact:
Mary Magnani
[email protected]

SOURCE Copec WIND Ventures

• In what is EQT’s largest ever fundraise, its flagship private equity fund raises EUR 22 billion (USD 24 billion) in total commitments, of which EUR 21.7 (USD 23.5 billion) are fee-generating assets under management, exceeding the EUR 20 billion (USD 21.6 billion) target 
• This represents a near 40 percent increase on EQT IX, thanks to strong support from existing and new investors, with a greater share of commitments coming from private wealth      
• EQT X builds on EQT Private Equity’s 30-year track record of strong performance, investing predominantly in the Healthcare, Technology and Tech-enabled Services sectors in Europe and North America

STOCKHOLM, Feb. 27, 2024 — EQT is pleased to share that EQT X (the ‘Fund’) has held its final close, having raised EUR 22 billion (USD 24 billion) in total commitments, of which EUR 21.7 billion (USD 23.5 billion) are fee-generating assets under management. The fundraise exceeded the target size of EUR 20 billion (USD 21.6 billion) and represents a near 40 percent increase on EQT IX, which closed at EUR 15.6 billion in April 2021. It also represents one of the largest private equity funds ever raised.

The Fund received commitments from a broad range of investors, including pension and sovereign wealth funds, asset managers, and the private wealth segment. The latter made up an increased share of the total commitments, on the back of EQT’s recent strategic drive to offer the segment increased access to EQT funds with the launch of EQT Nexus. Fund investors were based across the Americas, Asia-Pacific, the Middle East, Europe and the Nordics.

EQT X is the latest fund in the EQT Private Equity strategy. For thirty years, the strategy has invested in the Healthcare, Technology, Tech-enabled Services and Industrial Technology sectors in Europe and North America, and over that time it has delivered a realized gross multiple on invested capital of 2.7x. The Fund has announced seven investments since June 2022, starting with the acquisition of Envirotainer, the globally leading provider of mission-critical transport services to the biopharma industry. Other investments include advanced medical components supplier Zeus, accounts receivable automation leader Billtrust, and animal pharmaceutical business Dechra Pharmaceuticals.

Per Franzén, Head of Private Capital Europe & North America at EQT and Chairman of the EQT Private Equity Investment Committees, said, “We remain focused on backing and futureproofing companies in attractive and resilient sectors, such as healthcare and technology, and have proven our ability to perform and return capital across cycles. We continue to invest in our sector expertise, sharpening our ownership model and developing our value-creation toolbox. Our thematic investment strategy and strong local presence are competitive advantages when sourcing opportunities, not least in a slower deal-making environment. EQT X is off to a strong start, having already announced four take-privates while offering substantial co-invest opportunities. We look forward to continuing to partner with our clients.”

Suzanne Donohoe, Chief Commercial Officer at EQT, said, “We would like to thank both our long-term and new clients for their support of EQT X. Around 70 percent of the commitments to the fund came from existing EQT IX investors, a testament to the long-term trust we have built together. We’re also grateful for the support from new clients, who recognized our 30-year track record of delivering strong and steady returns. We look forward to continuing to strengthen our partnerships for the next 30 years and beyond.”

As one of EQT’s eleven business lines, the EQT Private Equity team consists of more than 130 investment professionals spread across 15 offices in Europe and North America. They work with portfolio companies to accelerate growth, strengthen profitability and increase resilience through an active ownership model. They do this through hands-on support of management teams, employing long-term perspectives, and bringing deep expertise in areas such as AI, digitalization and sustainability. The teams also draw upon the expertise of EQT’s network of over 600 Industrial Advisors, who each bring experience leading companies in EQT Private Equity’s core sectors. EQT Private Equity works closely with EQT’s other private capital business lines, which include EQT Private Capital Asia, EQT Future, EQT Healthcare Growth, EQT Growth, and EQT Ventures.

EQT X is currently 30-35 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication), based on the actual fund size.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, [email protected] , +46 8 506 55 334

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One of the longest-serving MENA VCs branches out with his own fund focused on the Pre-Seed and Seed stages

DUBAI, UAE, Feb. 27, 2024 — COTU Ventures announced that it has raised $54 million to invest in extraordinary founders in MENA when they are at the earliest stages of their startup journeys. COTU stands for Champions of the Underdog, a philosophy that embodies the firm’s strategy, investing at the Pre-Seed and Seed stages, where founders are most underestimated.

“I’ve been a part of the regional ecosystem since 2008, and it’s come a long way since then,” said Amir Farha, founder and GP of COTU Ventures. “Saudi Arabia has opened up internationally, and governments have been driving policies and investment to activate the technology sectors of their local economies. We have a young and growing population of tech-savvy, digitally connected consumers with substantial spending power. When you combine all of this with remarkably low customer acquisition costs and some of the highest revenues per user, there has never been a better and more profitable time to invest in the region than today.”

The new fund is sector-agnostic with a focus on identifying and supporting the brightest and most talented founders at the inception of their idea to post-product launch, typically investing between $500K to $1.5M as a first check. To date, the fund has invested in over 20 early-stage companies, including Huspy, the largest mortgage platform in the UAE (backed by Peak XV, Founders Fund and Fifth Wall), Supy, a UAE-based ResTech platform, MoneyHash, an Egyptian FinTech startup, and Sirdab, a leading storage and warehouse management solution in Saudi Arabia.

“Our partnership with COTU Ventures has been a cornerstone of Sirdab’s journey,” said Naif Alzahri, co-founder of Sirdab. “Amir and the entire COTU team have contributed a wide array of expertise that has significantly enhanced our strategic, technical, and operational frameworks. Their unique approach to collaboration is rare to find, and it has cultivated an environment where one feels comfortable sharing insights and challenges that are typically only discussed within the confines of a founding team. This foundation of trust and mutual understanding not only highlights the extraordinary nature of our relationship with COTU but also makes us eternally grateful for their support.”

COTU’s unique approach is founded on the belief that a person’s formative years provide an indication of their potential success as a founder. Through extensive, candid conversations that delve into a founder’s history, probing not just into their professional endeavors but the life experiences and decisions that have shaped them to date, COTU is able to build trust and depth with founders, thereby enabling them to make effective investment decisions in the process. The firm also believes that the choices made at the beginning of a startup’s life massively compound over time. This premise, along with the trust built through transparent, real conversations, allows COTU to surface key moments that the founder will face and actively arm them with the right resources, perspectives, and relationships to help make better decisions along the way.

Amir Farha, one of the pioneers of early-stage VC in the Middle East, who co-founded BECO Capital in 2012 and backed top startups including Careem (acquired by Uber for $3.1b), Property Finder (backed by General Atlantic), Kitopi and Fresha, founded COTU Ventures in 2021. In addition to Amir, the team of six includes Kayra Yasa, Ahmad Hammoudi, Nourhan Abdelaal, Anthony Khoury, and Yusuf Saber. Collectively, the team brings unique value and perspective to early-stage entrepreneurs, especially those looking for support across go-to-market, fundraising, and hiring for key positions.

“We’re proud to have backed a fund that’s distinguished not only by its impressive portfolio but by the exceptional leadership and track record of its founding partner, Amir,” said Sharif Elbadawi, CEO of Dubai Future District Fund. “Our confidence in Amir stems from his deep passion for supporting founders and his proven ability to find remarkable investment opportunities before anyone else. Over the past couple of years, COTU has established itself as a true advocate for entrepreneurs, earning widespread recognition as a champion of early-stage companies and the regional ecosystem as a whole. Amir’s commitment and strategic foresight have been instrumental in our decision to invest in COTU’s first fund, and we hope to continue our support in the future.”

The new fund’s limited partners include Lunate, Mubadala, Dubai Future District Fund, Arab Bank, Bupa KSA, and GPs from VCs, including Foundry Group, Tribe Capital, Stride, and several family offices.

About COTU Ventures
Founded in 2021, COTU Ventures is a leading Seed-stage venture capital firm based in Dubai, UAE. The firm partners with incredible founders at the beginning of their journey, taking companies from Pre-Seed and Seed through Series A and beyond, accelerating their path to product-market fit, and ensuring they get access to the right capital and expertise along the way. COTU primarily invests in the MENA region with a focus on UAE, KSA, and Egypt.

Media Contact:
Michael Celiceo, CodePR
michaelm@codepr.com

SOURCE COTU Ventures

Financing led by Sands Capital brings total capital raised to nearly $250 million.

FREMONT, Calif., Feb. 26, 2024 — Alamar Biosciences, a company powering precision proteomics to enable the earliest detection of disease, announced today the first close of $100 million in Series C financing with the second close of an additional $28 million expected to happen within the next 30 days. This new capital brings Alamar’s total funding to date to nearly $250 million. The financing round was led by Sands Capital and included participation from new financial and strategic investors as well as existing major investors. Concurrent with the financing, Ian Ratcliffe, Executive Managing Partner of Sands Capital, has joined the Company’s Board of Directors.

“We are extremely grateful for the strong support we have received from this premium group of investors in this significantly oversubscribed round. It is a testament to our game changing technology, solid IP, and strong early market adoption,” said Dr. Yuling Luo, Founder, Chairman & CEO of Alamar. “Our proprietary NULISA™ technology has demonstrated superior performance and a unique combination of capabilities that will enable our customers to accelerate biomarker discovery and the development of non-invasive tests for diseases with high unmet need. With this funding, we are now well positioned to power precision proteomics through accelerated commercialization.”

“Proteomics represents a dynamic and fast-growing market with significant opportunity for disruption as new platforms providing both higher sensitivity and multiplex capability are needed to accelerate proteomics research and translation,” said Ian Ratcliffe, Executive Managing Partner of Sands Capital. “The enthusiasm we have seen from early customers makes us believe that Alamar is poised to become a leader in the evolving proteomics space.” 

Earlier this year, Alamar announced the commercial launch of the ARGO™ HT System and the NULISAseq™ Inflammation Panel 250 for deep profiling of immune response. Alamar’s NULISA technology utilizes a novel sequential capture and release method to purify the immune complex, improving signal-to-noise by more than 10,000-fold. It also provides corresponding increases in sensitivity and dynamic range in comparison with traditional immunoassay approaches. The ARGO HT System provides an automated method for running NULISA assays with less than 30 minutes of total hands-on time. With qPCR and NGS readouts, the NULISA platform enables both focused analysis of validated biomarkers and highly multiplexed profiling of hundreds to ultimately thousands of proteins. The company plans to use the funds to grow the commercial and customer support teams, drive market adoption, and expand the product menu.

About Alamar Biosciences, Inc.
Alamar Biosciences is a privately held life sciences company with a mission to power precision proteomics to enable the earliest detection of disease. The company’s proprietary NULISA Platform along with the ARGO HT System work seamlessly with the latest advances in genomics to achieve single digit attomolar detection sensitivity, greatly surpassing the most sensitive protein detection technology on the market today. For more information, please visit http://www.alamarbio.com.

SOURCE Alamar Biosciences, Inc.

• Collaboration leverages Neomorph’s leading molecular glue discovery platform and Novo Nordisk’s extensive expertise in cardiometabolic and rare diseases
• Total potential deal value of $1.46B across multiple targets

SAN DIEGO, Feb. 26, 2024 — Neomorph, Inc. today announced it has entered into a collaboration and licensing agreement with global healthcare company Novo Nordisk to discover, develop and commercialize molecular glue degraders. Neomorph, a biotechnology company solving critical problems in human health through the discovery of novel therapeutics against ‘undruggable’ targets, was founded in 2020 and is venture backed by Deerfield Management Company.

“We are incredibly excited to partner with Novo Nordisk, a world-class healthcare company within diabetes, obesity and rare blood disorders,” said Phil Chamberlain, DPhil, Co-Founder, President, and CEO of Neomorph. “By combining Neomorph’s proprietary glue discovery platform with Novo Nordisk’s vast experience in cardiometabolic and rare diseases, we are well positioned to develop transformative treatments in these areas. This collaboration will enable the expansion of our platform into new therapeutic areas, complementing our on-going efforts in oncology.”

Under the terms of the agreement, Neomorph will receive an upfront and near-term milestone payments, plus R&D funding. Neomorph is also eligible to receive future clinical, commercial and sales milestone payments bringing the total potential deal value for multiple targets to $1.46B, plus tiered royalties. Neomorph will lead discovery and preclinical activities against selected targets with Novo Nordisk having the right to exclusively pursue further clinical development and commercialization of the compounds.

“Novo Nordisk is expanding its drug discovery efforts and deploying a range of novel technology platforms with the aim of discovering and developing new treatment solutions for people living with serious chronic diseases. We are pleased to enter this research collaboration and eager to start the scientific work on the novel class of molecular glue degraders being pioneered by Neomorph,” said Brian Vandahl, Senior Vice President of Global Research Technologies at Novo Nordisk.

About Neomorph
Neomorph is a biotechnology company solving critical problems in human health through the discovery and development of innovative new medicines against ‘undruggable’ targets. Neomorph was founded in 2020 and is venture backed by Deerfield Management Company.

Neomorph’s team is comprised of industry leading experts in protein degradation and molecular glues who have a track record of ground-breaking discoveries in the field. The team at Neomorph is committed to leadership in advancing the science and technology of molecular glue drug discovery, while prosecuting a pipeline of projects through clinical development.

Neomorph is headquartered in San Diego, California. For more information, visit www.neomorph.com and follow us on LinkedIn.

Contacts
Investor Contact: [email protected]
Media Contact: [email protected] 

Logo – https://mma.prnewswire.com/media/2341384/Neomorph_Logo.jpg

NEW YORK, Feb. 26, 2024 — NLX®, which is revolutionizing the way AI powers customer experiences for large and enterprise brands, is proud to announce it has raised $12 million in Series A funding, led by Cercano and joined by Thayer Ventures and HL Ventures. Initial investors IAG Capital Partners, JetBlue Ventures and Tech Square Ventures’ Engage also contributed to this new round of funding.

“AI is transforming the customer service journey for brands and it is essential that every touchpoint in that journey feels personalized to the consumer and exceeds their expectations – while also grounded in practicality,” said Andrei Papancea, CEO and Chief Product Officer of NLX. “This milestone speaks to NLX’s success in helping some of the most well-known global brands deliver world-class customer experiences at scale. We are excited to continue our growth and development with this latest round of capital which will fuel NLX’s market expansion, strategic hires, and even more market-defining capabilities, like our patented multimodal technology.” 

NLX leverages the latest in generative AI, cloud software, and its voice, chat and multimodal conversational AI technology to deliver exceptional customer experiences that meet the scale, complexity and compliance needs of enterprise brands. 

Among those enterprise customers include, but are not limited to, Red Bull and Copa Airlines. NLX has also engaged with teams at Comcast following their participation in the Comcast NBCUniversal LIFT Labs accelerator program. NLX’s largest deployment is rolled out in 90 countries and over 65 languages and locales. 

“NLX is redefining the way people interact with brands. Their commitment to providing automated and frictionless multimodal self-service experiences aligns with the evolving needs of enterprises. We are excited to support NLX’s innovative approach and their potential to revolutionize the customer experience landscape,” said Lauren Glatter, investor at Cercano.

“NLX continues to empower companies by enabling them to provide customers with a seamless end-to-end self-service experience. This not only delights customers but also helps in managing substantial fluctuations in call center demands. We are proud of the innovative strides being made by NLX, and are excited to see what they have in store for enhancing customer experiences in the future,” said Ryan Chou, Managing Director, Investments at JetBlue Ventures.

More about NLX
NLX provides an end-to-end enterprise AI platform for creating, managing, deploying and analyzing chat, voice, and multimodal conversational applications. The platform enables brands to manage conversational deployments across their entire enterprise, while providing unmatched modularity and access to state of the art AI models from providers like Amazon, Google, Microsoft, and the Open Source community. 

Cercano Management, LLC (“Cercano“) is an SEC registered investment adviser, the statement provided is not intended and should not be construed as solicitation to purchase or sell, any security, investment product or service. Cercano‘s views and commentary are subject to change in the future without notice. Nothing stated is intended to predict the performance of any investment.

CONTACT: 
Molly Gannon Conway
[email protected]

SOURCE NLX