NEW YORK, Nov. 15, 2023 — GoldState Music (“GoldState” or “the Company”) today announced a significant investment and a new partnership with funds managed by Flexpoint Ford Asset Opportunities (“Flexpoint”) to accelerate its strategy of investing in music intellectual property assets, including full catalogs, influential copyrights, master recordings, and publishing rights. As part of the partnership, GoldState will source new catalog acquisitions and manage the licensing, synchronization, and administration for the existing and acquired copyrights.

GoldState was launched in 2022 by Charles Goldstuck, a music industry veteran who brings decades of music experience to the firm. GoldState was formed to create a diversified portfolio of music copyrights and sound recordings, with a differentiated strategy of acquiring rights from active, well-known artists, writers and producers. In its first year of operations, GoldState successfully acquired music rights from several artists and songwriters, spanning multiple genres, geographies, and asset types.

“GoldState aims to provide a home for active music creators looking to monetize their current music assets and focus on continuing their creative endeavors,” said Charles Goldstuck, Founder of GoldState. “The capital from Flexpoint will allow us to accelerate our strategy and create a diversified portfolio of music assets across various artists and genres.”

“Charles has a strong pedigree within the music industry that enables him and the GoldState team to identify and acquire music rights with attractive performance trajectories,” said Mike Morris, Managing Director of Flexpoint Ford. “We continue to see strong secular demand for music underpinned by increased penetration of streaming and expanding avenues for music consumption, and we believe GoldState has the expertise, experience and deep commitment to artists needed to develop a successful and differentiated business in this rapidly evolving space. We are thrilled to partner with Charles and the opportunities that lie ahead for GoldState.”

Flexpoint has approximately $7.7 billion of assets under management and specializes in privately negotiated investments in the financial services and healthcare industries. The capital is being provided by Flexpoint Asset Opportunity Fund II, which leverages the firm’s institutional knowledge and relationships to complete opportunistic investments across the capital structure.

Reed Smith served as legal counsel to Flexpoint. Artisan One served as financial advisor and Alston & Bird served as legal counsel to GoldState.

About GoldState Music

GoldState Music is a private investment firm with a primary focus on the music sector. GoldState funds invest in music rights, enterprises in need of growth and expansion capital, as well as emerging music technology. The firm was founded in 2022 by Charles Goldstuck, and currently has offices in New York, NY and Lake Nona, FL (Orlando). The team consists of experienced industry professionals who are deeply rooted in the music ecosystem.

About Flexpoint Ford

Flexpoint Ford is a private equity investment firm that has approximately $7.7 billion of regulatory assets under management and specializes in privately negotiated investments in the financial services and healthcare industries. Since the firm’s formation in 2005, Flexpoint Ford has completed investments across a broad range of investment sizes, structures and asset classes. Flexpoint Ford has offices in Chicago, Illinois, and New York, New York. For more information, visit www.flexpointford.com.

Media Contact

Prosek Partners on behalf of Flexpoint Ford

[email protected]

SOURCE GoldState Music

Latest round led by Maor Investments and Ten Eleven Ventures bolsters Vulcan Cyber vulnerability risk management leadership position, and promotes expansion into cyber risk and attack path management markets

TEL AVIV, Israel, Nov. 15, 2023 — Vulcan Cyber®, developers of the market-leading cyber risk management platform, today announced it has closed its $55 million Series B with the addition of a $34 million investment led by Maor Investments and Ten Eleven Ventures with participation from existing Vulcan Cyber investors Dawn Capital and Wipro Ventures. This latest investment marks a total of $70 million invested in Vulcan Cyber to date.

Based on annual recurring revenue in the trailing twelve months through Q3 2023, Vulcan Cyber more than doubled revenue year over year while aligning with current market requirements for operational efficiency. Vulcan Cyber revenue growth is based on substantial global demand for a SaaS solution that goes beyond traditional vulnerability scanning and vulnerability management to help cyber security teams and asset owners mitigate the cyber risk that presents the most critical threat to customers’ unique organizations.

Vulcan Cyber will use funds from this round to fuel continued product innovation, expand into new markets, accelerate rapid revenue growth, and build on market momentum.

Vulcan Cyber was recently recognized as a Leader in The Forrester Wave™: Vulnerability Risk Management, Q3 2023 (1) and the Omdia Universe: Risk-Based Vulnerability Management Solutions, 2023 (2) vendor evaluations. In addition, Vulcan Cyber was named a winner of the coveted SINET16 Innovator Award as one of the most-innovative and compelling cyber security products of 2023.

According to the Forrester Vulnerability Risk Management Wave, “Vulcan Cyber’s innovative culture sets it apart from now-common VRM approaches. Vulcan Cyber’s differentiated and detailed vision is to democratize risk through self-service, no-code data ingestion, and AI data mapping. Vulcan Cyber is a great fit for organizations that foresee technology ownership expanding throughout their business stakeholders.”

Samira Jamnejad, Wealthsimple security assurance manager, said, “Our vulnerability management team collaborates with more than 800 software engineers and asset owners to mitigate risk across our environment. Vulnerability risk management at this level of scale would not be efficient, or even possible, without Vulcan Cyber risk prioritization and risk mitigation orchestration.”

Eric Elalouf, managing partner of Maor Investments, said, “As the threat landscape and attack surfaces grow in complexity and scale, Vulcan Cyber increasingly resonates with cyber security executives who recognize the challenge and seek an innovative, more-effective approach to cyber risk management. With a flexible architecture allowing integration to virtually any security tool in the market and adaptive risk prioritization, Vulcan Cyber is ideally positioned to lead the enterprise cyber risk management market. We are thrilled to support the Vulcan Cyber team, driven by a clear vision and outstanding leadership.”

Yaniv Bar-Dayan, Vulcan Cyber CEO and co-founder, said, “Vulcan Cyber is leading the way in a push to move beyond common vulnerability management functions of scan and prioritize, to ease the heavy lifting of meaningful risk mitigation. Efficient collaboration between security, engineering, operations teams and asset owners is essential. Orchestration and automation of remediation tasks at enterprise scale is critical. This round of funding will help Vulcan Cyber deliver on its vision to help customers align vulnerability risk management efforts with business priorities.”

Vulcan Cyber is building the platform to support comprehensive exposure management going beyond traditional vulnerability management to include:

• Application security posture management (ASPM);
• Cyber asset attack surface management (CAASM);
• Risk-based vulnerability management (RBVM);
• Exposure and risk analytics.

Vulcan Cyber customers efficiently reduce the most-critical attack surface risk and improve overall cyber hygiene through the use of these innovative capabilities:

• Integration with hundreds of security tools and data sources to rationalize spend and help customers get the most out of cyber investments;
• A composite view of the customer’s unique cyber risk exposure across all attack surfaces using business and asset context;
• Identification of attack paths associated with cyber crown jewels and asset interdependencies for vulnerability risk prioritization and holistic security posture management;
• Task automation and orchestration vulnerability risk mitigation campaigns at scale;
• Machine learning and artificial intelligence to generate vulnerability remediation instructions for asset owners and operations teams;
• Comprehensive risk analytics with reporting and dashboards for SLA adherence and compliance.

Attend the upcoming CyberRisk Summit on December 5, 2023 and hear Yaniv Bar-Dayan deconstruct the Forrester Wave, and learn how Vulcan Cyber customers Wealthsimple and Paystack have used Vulcan Cyber to efficiently reduce critical cyber risk.

Manage Your Cyber Risk Now
To experience Vulcan Cyber vulnerability and asset risk management for yourself, request a demo or get access to Vulcan Free.

About Vulcan Cyber
Vulcan Cyber has developed the industry’s first cyber risk management platform, built to help businesses reduce vulnerability and asset risk through measurable and efficient attack surface security. Vulcan Cyber orchestrates and tracks the vulnerability remediation lifecycle from scan to fix by aggregating risk and asset data, prioritizing vulnerabilities using business context, curating and delivering the best remedies, and automating mitigation processes through the last mile of remediation. Vulcan Cyber is proud to offer Vulcan Free, VulnRX and MITRE Mapper as freemium SaaS solutions for IT security teams at businesses of all sizes. The unique capability of the Vulcan Cyber platform has garnered Vulcan Cyber recognition as a 2019 Gartner Cool Vendor, as a 2020 RSA Conference Innovation Sandbox finalist, as a 2023 SINET16 Innovator Award winner, and as a vulnerability risk management leader in several industry analyst evaluations. https://vulcan.io

About Maor Investments
Maor Investments is a Luxembourg-based venture capital fund that exclusively invests in Israeli Technology companies. Maor’s mission is to build a business bridge between Israeli startups that want to penetrate the European market and European companies that want to leverage Israeli technology and bolster innovation. Maor has become a leading growth investor in the Israeli tech ecosystem, with notable investments in WSC Sports, Aidoc, Coralogix, Silverfort, Medigate and Minute Media. For more information, visit https://maorinvestments.com/

About Ten Eleven Ventures
Ten Eleven Ventures is the original cybersecurity-focused, global, stage agnostic investment firm. The firm finds, invests, and helps grow top cybersecurity companies addressing critical digital security needs, tapping its team, network, and experience to help build successful businesses. Since its founding, Ten Eleven Ventures has raised over $US 1 billion and made over 40 cybersecurity investments across stages worldwide, including KnowBe4, Darktrace, Axis Security, Twistlock, Verodin, Cylance, and Ping Identity. For more information, please visit www.1011vc.com or follow us on Twitter @1011vc.

1 “The Forrester Wave™: Vulnerability Risk Management, Q3, 2023,” September 19, 2023, Forrester Research.

2 “Omdia Universe: Risk-Based Vulnerability Management Solutions,” September 18, 2023, Omdia.

SOURCE Vulcan Cyber

92% of active retail traders said they are not actively trading “meme stocks” as many have pivoted strategies, according to retail trader sentiment survey from leading trading platform

CHARLOTTE, N.C., Nov. 15, 2023 — Tradier, a next generation brokerage solution provider that powers one of the largest communities of active equity and options traders in the market, today unveiled its 2023 Active Retail Trader survey. The survey, focused on active retail traders, provides a snapshot of where engaged investors are moving their money, along with preferred trading strategies heading into 2024.

With its unique brokerage model, Tradier’s technology powers trading from over 100 independent platforms globally giving the firm a unique view into active retail trader sentiment, interests, and behavior.

Additional insights showed that:

• New Focus Area: More than half of respondents (55%) say they’re either already trading or are interested in trading 0DTE (Zero Days to Expiration) options;
• Moving Past Meme Stocks: 92% of retail traders said they are not actively trading “meme stocks;”
• Crypto Bubble Burst: 86% of respondents said they are not actively trading cryptocurrencies;
• Options Focused: 67% of respondents chose options as their preferred and primary trading instrument;
• Shift in News: Only 20% of respondents said they get their news from traditional TV channels. Twitter (now X) is the most sought-after social platform by active retail traders.

“Despite a challenging market, we’ve seen sustained investor interest and the emergence of graduated and skilled active traders in 2023,” said Dan Raju, CEO of Tradier. “While equity and options are of primary interest, meme stocks and cryptocurrencies are less appealing to retail traders as they transition to more intricate trading. Zero-day-to-expiration options are popular among today’s active retail trader crowd and will continue to grow in popularity in 2024. Focus on technology, service, transparency, and education will more greatly fuel the growth in the active trader market, who are undeterred by gloomy economic headlines.”

For more information about the report or Tradier, please visit www.tradier.com.

About Tradier, Inc.
Tradier, Inc. is a cloud-based financial services provider and brokerage API company that offers a groundbreaking platform to serve platform providers, advisors, developers, and individual investors. Tradier delivers an innovative set of fully hosted API’s, modules, and “out of the box” tools that are leveraged by a growing list of providers seeking to create innovative trading and investing experiences.  Tradier powers over one hundred retail active trading platforms, accounts from 150 plus countries and serving 60 plus noted educational partnerships. Created by developers, Tradier is a technology linchpin that works with organizations that want to democratize access to data, trade execution, low-cost trading, and market connectivity through cloud access. In addition, Tradier’s APIs empower third-party developers to build applications such as algorithmic and robotic trading systems.

Media Contact:
Tradier Press
980.272.3880
[email protected] 

SOURCE Tradier

CHICAGO, Nov. 15, 2023 — Lynette Montoya, a prominent figure in the hospitality and economic development sectors, has announced her investment in Dream Exchange, the first minority stock exchange, in formation.

Lynette Montoya serves as the President and CEO of the Latino Hotel Association. Since 2016, she has provided resources, education, training, and networking opportunities to Latino entrepreneurs in the hotel industry, facilitating wealth creation through hotel ownership and investment. Ms. Montoya’s dedication to her community extends beyond her professional endeavors. She is the founder of the Hispanic Chamber of Commerce in Santa Fe, New Mexico, where she also served as its founding Executive Director. Lynette is married to James (Jimmy) Valdez, who is employed by the Los Alamos National Laboratory for 40 years. They continue to work together to make advancements in their community.

“Supporting initiatives like the Dream Exchange is not just a matter of financial investment, but a testament to our commitment to creating a more equitable future. As we strive for a diverse and equitable financial landscape, Dream Exchange is not just great, but essential in the movement to bring more access to underserved communities. I am excited to be a part of this groundbreaking journey.” – Lynette Montoya, CEO of the Latino Hotel Association

Dream Exchange Founder and CEO, Joe Cecala, emphasized the significance of Lynette Montoya’s involvement:

“Dream Exchange is pioneering a new era in financial markets We are thrilled to have Lynette Montoya join our investor network. Her expertise in the hospitality industry, her deep community involvement, and her leadership aligns with our values to bring humanity, access, and fairness into our capital market system.” – Joe Cecala, Founder and CEO

“Lynette Montoya’s investment in the Dream Exchange stands as a testament to the growing momentum of creating an accessible financial environment that reflects the diversity of our society. Her leadership and commitment to positive change continue to make a significant impact in the hospitality, economic development, and community service sectors. We are thrilled and inspired by her, and proud to have her join our investor community.” – said Managing Member of DX Capital, LLC, Dwain Kyles

About Dream Exchange 

The Dream Exchange is preparing its application and operations to become registered as the first minority company to operate a stock exchange in the history of the United States. In addition, Dream Exchange noticed that a transformative development is in the horizon that aligns seamlessly with the Dream Exchange’s mission:  The Main Street Growth Act, a bill that was introduced to Congress, will allow for the creation of a new type of stock exchange, called a venture exchange. If enacted, this legislation has the potential to usher in a new era for small and early-stage businesses, including minority-owned companies, and offers enhanced access to capital and expanded opportunities for growth. This bill furthers Dream Exchange’s mission to create equal access to a marketplace that instills ethics, humanity, and fairness into finance.

Visit our website and follow us on LinkedIn for more.

MEDIA CONTACT
Vanessa Jean-Louis
Vice President of Public Relations
[email protected]
1-773-914-1182

SOURCE Dream Exchange

SF and Toronto-based startup that aims to transform how developers build on the blockchain, launches first unified API platform for Web3

SAN FRANCISCO, Nov. 15, 2023 — Uniblock, a San Francisco and Toronto-based startup that’s transforming how developers build on the blockchain through its pioneering Unified Web3 API platform, is thrilled to announce a funding round of $2.3 million. The round includes participation from Cadenza, Blockchain Founders Fund, Side Door Ventures, AQN, Serafund, Outsider Ventures, and others.

Uniblock’s goal is to be the default developer platform that companies use when building for the blockchain. Today, blockchain development is fragmented and inefficient due to the time and expense involved to maintain the myriad of Web3 integrations essential for product success. Uniblock aims to unify this scattered market by connecting the best blockchain tools such as Alchemy, thirdweb, Moralis, Parsiq, Covalent, QuickNode and many more, into one easy-to-use platform. This milestone enables Uniblock to accelerate the development of its Unified Web3 API platform, integrating hundreds of top Web3 connections and endpoints into one tool enabling faster and more scalable blockchain development.

Co-founded by Kevin Callahan (CEO), David Liu (CTO), and James Liu (VP Eng), Uniblock was created out of the group’s shared vision to make blockchain development accessible and scalable. Kevin has a background in Product and Partnerships, was formerly at Coinbase and Twitter, and is an adjunct professor in Product Management at Toronto Metropolitan University (TMU) and an Entrepreneur-in-Residence at Ivey School of Business. David is previously the co-founder of ANIFTY, an anime NFT marketplace that was acquired, and is an adjunct lecturer of blockchain at the University of Toronto. James was a lead engineer at ANIFTY, and a lead blockchain developer on several Web3 projects. He holds a degree in statistical machine learning and artificial intelligence from the University of Toronto.

Speaking about the investment, Aly Madhavji, Managing Partner at Blockchain Founders Fund, says, “Uniblock’s innovative approach to Web3 development holds the promise of transforming how blockchain products are built. We’re backing their mission to tackle this fragmented market with their easy-to-use Unified Web3 API platform. Their platform is a massive upgrade for any company that wants to build, manage, and maintain a Web3 product.”

Echoing similar sentiments, Kumar Dandapani, Managing Partner at Cadenza says, “We were immediately excited about the opportunity to work with Kevin, David and James. We’re acutely aware of the market need for their Unified Web3 API platform and have the utmost confidence in the team to execute on their vision.”

Uniblock envisions a future where every company can easily build for the blockchain and maintain their product using a singular platform. With Uniblock that future is today.

About Uniblock

Uniblock empowers Web3 developers by providing a single platform with access to all essential Web3 tools. We offer normalized data across various Web3 platforms, complete with backup and error handling. Our goal is to consolidate the top Web3 integrations into one comprehensive toolkit, allowing developers to scale their projects seamlessly. We’re committed to partnering with leading tools like Alchemy, ThirdWeb, Moralis, Parsiq, and QuickNode to streamline integrations across all Web3 categories, including DeFi, GameFi, NFTs, Tokens, Security, On-ramp, and more. With Uniblock, developers can trust in the consistent delivery of their data, even in the face of service disruptions.

Contact:
Kevin Callahan
[email protected]
+1 206-681-3007

SOURCE Uniblock

Martin Garcia, Former Genesis Managing Director and Co-Head of Trading and Lending, Appointed Co-CEO

NEW YORK, Nov. 15, 2023 — VersiFi today announced the completion of its Series A funding, led by Hunting Hill Global Capital. VersiFi will use this funding to launch a new digital assets trading and lending business backed by institutional-grade technology, an experienced management team, and partnerships with third-party custodians.

Martin Garcia, former Genesis Managing Director and Co-Head of Trading and Lending, has been appointed co-CEO and will lead VersiFi’s sales, trading, and lending functions. Established technology entrepreneur Sameer Shalaby, who founded VersiFi in 2022, will take charge of all non-trading aspects of the business, including the ongoing development of its low latency plug-and-trade platform.

“We are working with Hunting Hill to bring the best tradfi and digital assets talent together to build a stronger market environment,” said Sameer Shalaby, co-CEO, VersiFi. “Martin’s depth of experience and understanding of both markets and client needs are invaluable qualities that will help us achieve our goals. We are fully committed to developing a digital assets ecosystem that sees market participants working together to minimize risk and provide customers with a robust market structure that helps them trade responsibly.”

Martin Garcia is a skilled trading and financial markets leader whose experience spans both tradition and digital assets. He previously served as Managing Director and co-Head of Lending and Trading at Genesis, where he helped create and scale the company’s digital assets business, including developing market-pioneering products and services. He also led Genesis’s sales efforts and was responsible for client relationships, including those with leading hedge funds, market makers, lenders, and exchanges. Garcia left Genesis in August 2021.

“I’m excited to be joining Sameer and the talented team at VersiFi,” said Martin Garcia, co-CEO, VersiFi. “Institutional investors are ready for a reliable way to scale their activity in digital assets. They need the highest grade technology, risk management, and trading and lending services, which is exactly what we are building at VersiFi. Now is the right time to combine a high-touch trading mindset with Sameer’s seasoned tech-forward approach to markets.”

“The promise and potential of digital assets is still very clear,” said Adam Guren, CEO, Hunting Hill. “VersiFi’s talented team, which now includes Martin, has the experience across trading, lending, and technology to help evolve digital assets market structure in the right way. We’re excited to be working with them and contributing our own expertise to help realize this potential.”

About VersiFI
VersiFi is a digital asset trading and lending firm that combines a hightech platform with high-touch services to help institutions trade and borrow efficiently. VersiFi’s plug-and-trade platform provides a single point of access for trading, borrowing, and lending, as well as custody services provided by third-party partners. Led by a team of proven industry professionals, VersiFi is determined to help digital assets reach their fullest potential. For more information visit www.versifi.io.

CONTACT INFORMATION

Jennifer Berlin
Forefront Communications for VersiFi
+44 (0) 7375 288 641
[email protected]

SOURCE VersiFi

Norwest-led Financing Will Bring FDA-Cleared IntelliSep^® Test to Hospitals Nationwide to Support Early Detection and Treatment of Serious Condition

SAN FRANCISCO, Nov. 15, 2023 — Cytovale^®, a commercial-stage medical diagnostics company focused on advancing early detection technologies to diagnose fast-moving and immune-mediated diseases, today announced it has raised $84 million in Series C funding led by Norwest Venture Partners with participation by additional new investors Sands Capital and Global Health Investment Corporation (GHIC). The financing included participation from other new and existing investors, as well as the conversion of bridge notes. Cytovale will use the proceeds to bring its recently FDA-cleared rapid sepsis diagnosis test – IntelliSep^® – to more hospital emergency departments (ED) and health systems in the United States, addressing historical diagnosis lag time that makes sepsis the leading cause of death in U.S. hospitals.

“Sepsis is a dangerous, fast-moving condition that can result in death if not identified and treated quickly,” said Cytovale CEO Ajay Shah. “Our flagship diagnostic tool, IntelliSep, with a blood-to-answer time frame of under 10 minutes, helps healthcare providers recognize sepsis early and make critical, time-sensitive clinical decisions. With the support of our investors, we are now able to expand efforts to get our tool in the hands of more providers so they can address the potential deadly outcomes patients currently face.”

Sepsis – A Hidden Killer
Sepsis is the leading cause of death in U.S. hospitals, with more than one-third of all in-hospital deaths attributed to the condition. About 80% of sepsis patients present to the ED, where it can be difficult to discern from ordinary infections or other conditions that can mimic sepsis. ED providers are often tasked with making triage and treatment decisions with limited information in a complex and resource-strapped environment. As a result, sepsis patients can be either underdiagnosed, resulting in rapid deterioration, risk of organ damage and need for readmission; or over-diagnosed, which can lead to increased costs, unnecessary utilization of limited hospital resources, and the avoidable and sometimes serious health consequences of overtreating patients with broad-spectrum antibiotics. These errors and delays make sepsis the leading cost of hospitalization in the U.S, estimated at $62 billion annually.

Since sepsis is more prevalent in the U.S. than heart attacks and strokes combined, the related challenges are magnified because there has been no standardized care pathway to evaluate potentially septic patients. Existing ED sepsis tests and techniques are often not specific to the condition or lack the timeliness, objectivity and accuracy needed for ED use. Since the risk of death from sepsis increases by up to 8% for each hour that it goes untreated, a tool that enables providers to quickly and confidently recognize this medical emergency is urgently needed.

“Sepsis is one of the most deadly, complex and costly conditions faced by hospitals. Until now, healthcare providers have lacked a fast and reliable test to inform treatment paths,” said Zack Scott, M.D., general partner at Norwest Venture Partners. “Offering the first early-detection test on the market, Cytovale has the incredible potential to dramatically improve how our healthcare system gets the right care to the right patients at the right time. We look forward to working with Cytovale as IntelliSep revolutionizes care pathways for so many patients, improving their outcomes while also helping hospitals optimize utilization and operational excellence.”

IntelliSep – Fast, Actionable Diagnosis of Sepsis
IntelliSep is a transformative tool for hospital ED personnel who may suspect infection in patients. The first-of-its-kind host immune response diagnostic generates results in under 10 minutes using standard blood draws and can be seamlessly and efficiently integrated into existing care workflows.

IntelliSep takes a unique approach, assessing the body’s immune response to an infection by interrogating immune cell morphology and mechanics. In simple terms, IntelliSep squeezes white blood cells and characterizes their responses – which differ between septic and non-septic patients – using cutting-edge machine learning technology.

Cytovale’s rapid laboratory test provides valuable insights into potential sepsis diagnosis. The test provides a score, which categorizes a patient’s probability of having or developing sepsis within the next three days. Using that score, healthcare providers can quickly determine next steps for treatment with a higher level of confidence, potentially reducing the likelihood of poor outcomes from sepsis, including death.

Cytovale is working with select early access hospitals and health systems to implement the IntelliSep test as part of triage processes for adults presenting to the ED with signs and symptoms of infection. Our Lady of the Lake Regional Medical Center was the first to implement IntelliSep, which has since enabled essential ED personnel to focus efforts on critically ill patients. In fact, IntelliSep reduced the number of all-hands-on-deck alerts in the ED by 80% relative to previous sepsis detection methods.

“The ability to detect the probability of sepsis early in patients who present to our emergency department allows us to focus our efforts and attention on our most critical patients and get them the support and interventions they need, saving precious time,” said Chris Thomas, MD, vice president and chief quality officer of Franciscan Missionaries of Our Lady Health System. “Not only are we saving lives, we are better able to channel our valuable emergency department resources in a meaningful way.”

TD Cowen served as financial advisor to Cytovale for this fundraising.

About Cytovale^®
Cytovale is committed to improving human health by pioneering early detection technologies powered by insightful assessment of immune activation. Comprised of an extraordinary team of life scientists, engineers, clinicians and dreamers, Cytovale intends to accelerate the time it takes to get from triage to life-saving therapies. Learn more about Cytovale and request to implement IntelliSep^® in your hospital or care setting through cytovale.com. For updates, follow Cytovale on LinkedIn and X.

About Norwest Venture Partners
Norwest is a leading venture and growth equity investment firm managing more than $12.5 billion in capital. Since its inception, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across a wide range of sectors with a focus on consumer, enterprise and healthcare. The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Menlo Park and San Francisco, with subsidiaries in India and Israel. For more information, please visit www.nvp.com.

SOURCE Cytovale

EMERYVILLE, Calif. and GRENOBLE, France, Nov. 15, 2023 — Injectsense Inc., a sensor-enabled digital health company, and sister company Injectpower, a developer of ultra-miniature solid-state microbatteries for medical applications, today announced combined funding of $9.4 million to bring highly integrated autonomous implantable devices – smaller than a grain of rice — to production.

The implantable sensors, which monitor key indicators over decades, offer a disruptive capability at a time when most diagnostic tools are a mere static snapshot. Physiological markers are typically dynamic and vary widely over a 24-hour period. Such is the case with glaucoma, where intraocular pressure (IOP) is measured in the doctor’s office during daylight hours. Injectsense sensors measure IOP continuously, even during sleep, when pressure can spike significantly and cause vision loss over the long term.

The funds will serve to further consolidate the two companies’ combined global supply infrastructure to create an advanced medical device cluster for implantables based in France. The cluster will streamline business opportunities, enable improved supply chain management, and support Injectsense’s February 2024 first-in-human studies for sensors that continuously measure intraocular pressure (IOP).

Injectsense already produces hundreds of prototype devices and is ramping up to thousands in 2024. Besides IOP sensors, it is also producing sensors for intracranial pressure (ICP) measurement and is building a path to cardiovascular pressure monitoring applications.

The funding consists of a $2.5M bridge investment from private investors for Injectsense as it moves into clinical IOP studies and final product development incorporating rigorous quality management systems. The funding also includes €6.5M (US$7M) for Injectpower, which is readying its energy-dense, solid-state lithium-ion technology for transfer to production.

“As a company driven by worldwide medical needs including learning more about the pathology of glaucoma, our infrastructure to support production must be global,” said Ariel Cao, CEO/president and co-founder, Injectsense Inc. “We are excited to be moving towards full-scale battery production with the unique capabilities of Injectpower in our medical supply chain cluster, which will support our work in human clinical studies.”

Injectsense funding use

Injectsense has provided sensors to Johns Hopkins University’s Wilmer Eye Institute for animal testing under the guidance of Dr. Thomas Johnson III, M.D. The Institute is currently completing its study. The company used recent funding from the NIH for the latest iteration of its sensor. This version will be used for first-in-human studies by Dr. Juan Jose Mura in Santiago, Chile. The study will be conducted over months, with data available in late spring (and earlier for Injectsense’s ophthalmic device partner), with the aim of collecting long-term safety and clinical data.

The study will allow Injectsense to finalize its product development under its quality system for ramp-up to clinical studies in 2025. The Injectsense board of medical advisors, including glaucoma specialists from leading medical institutions, actively contribute on design considerations and in particular safety aspects of the in-office delivery and self-anchoring procedure. The final product, iOP-Connect™, will offer continuous and autonomous long-term measurement of IOP 24/7 over decades, with weekly recharging and data uploads. The iOP-Connect data analysis software will identify clinically actionable information based on parameters specified by the physician.

Injectpower funding use

Injectpower funding comes from private and commercial investors that include the IDEC Group, business angels from the French Silicon Valley as well as Bpifrance and banking partners. The company was founded in 2020 based on 20 years of technology development at French research institute CEA, and more than 40 patents. Injectpower aims to catalyze the energy storage market for medical implants. The company is building a proprietary 200mm MEMS fabrication facility in Grenoble, France, that will produce the batteries and other components.

The company’s technology enables customization of rechargeable lithium microbatteries as thin as a human hair. The batteries are safe and among the smallest and most integrated on the market today, offering energy densities 5 to 10 times greater than current commercial capability, high reliability and a lifetime of several thousands of cycles. The first components have already been developed, characterized and tested on a pre-commercial 200mm microelectronic supply chain with support from CEA/LETI, for Injectsense.

“We are convinced that the Injectpower solution is a game-changer in energy storage for medical applications,” said Patrice Lafargue, president, IDEC Group, the leading investor in Injectpower through its investment fund Groupe IDEC Invest Innovation, and a major player in the pharmaceutical and cosmetics sector through its subsidiary IDEC Health. “Their vision addresses a true gap in this sector. We want to help the company to ready its product line and support them as they deploy this commercial tool in France.”

About Injectsense
Injectsense is a sensor-enabled digital health company that enables tracking of progressive disease indicators and assessment of therapy effectiveness. The company’s Silicon Valley and Twin Cities product teams combine cutting-edge advances in microelectronics with best-in-class medical device development and expertise. Its systems provide continuous, clinically actionable information through an implantable ultra-miniature sensor coupled with a secure digital health platform. Injectsense received Series B funding in April 2019 and is expecting to close a Series C round in 2024. Injectsense currently has development revenue from a major non-ophthalmic device company. It has established a supply chain with the capacity for hundreds of thousands of devices per month. The device is currently for clinical investigation only and is not commercially available. For more information visit injectsense.com.

For more information contact:
Tom Breunig
Director of Communications
Injectsense Inc.
(510) 847-1637
[email protected]

SOURCE Injectsense

OAKLAND, Calif. and NEW YORK, Nov. 15, 2023 — OrbiMed, a leading healthcare investment firm and Koya Medical, a healthcare company with a mission to transform venous and lymphatic treatments through novel, people-centric solutions, today announced the closing of a financing for up to $30 million. The capital will support the company’s strategic expansion and continued growth.

“We are excited to partner with Koya on its journey to deliver innovative offerings that can help millions of patients living with these chronic conditions,” said Matthew Rizzo, General Partner, OrbiMed. “Lymphedema treatments are an underserved area for many patients, and we are just beginning to understand the full impact these diseases have on patients’ daily lives. We are pleased to have OrbiMed join us along with our existing investors on this important mission,” said Josh Baltzell, Board Chairman, Koya Medical.

With the close of this financing, Koya is well positioned to continue the growth of its Dayspring treatment for lymphedema. “Lymphedema and chronic venous diseases have tremendous unmet needs where millions of patients suffer due to the progressive nature of these conditions and their debilitating impacts. With OrbiMed joining our journey, we will be able to make a stronger impact in improving patient lives,” said Andy Doraiswamy, CEO. “This partnership and funding will enhance our abilities to better serve our patients.”

About Lymphedema

An estimated 20 million Americans live with lymphedema, a progressive, incurable condition where a buildup of protein rich fluid causes painful swelling in the arm, leg, and/or other regions of the body. For most, lymphedema requires lifelong maintenance and various levels of therapy to control swelling and pain. Lymphedema can result from a variety of factors, including cancer, chronic venous disease, infection, and surgery. 

About Koya Medical

Koya Medical, a privately held company founded in 2018, is a transformative healthcare company developing breakthrough treatments for venous diseases and lymphedema and personalized care that is unavailable with traditional treatments. For company or product inquiry, contact [email protected].
Follow us on LinkedIn at www.linkedin.com/company/koyamedical/.

SOURCE Koya Medical