ST. PAUL, Minn., Jan. 28, 2025 — iotaMotion, Inc., a leader in developing advanced robotic-assisted systems for cochlear implant surgery, announced a major milestone in its mission to advance cochlear implant surgery beyond human capability. Following the first full year of commercialization, there are 25 centers across the United States now offering the iotaSOFT® Insertion System.

As the first and only robotic-assisted system available in the United States for cochlear implantation, iotaMotion is developing a market for the technology among surgeons and patients. Validated by a rapid utilization increase and expanding center access, including ten neurotology fellowship programs offering the technology, there is a clear need for the iotaSOFT Insertion System.

The advanced technology is designed to provide a controlled electrode array insertion during cochlear implant procedures, resulting in less trauma to the cochlea when compared to manual insertions.

“We are incredibly proud of the impact the iotaSOFT Insertion System has had on the cochlear implant market,” said Mike Lobinsky, President & CEO of iotaMotion. “Creating a market for robotic assistance and then subsequently generating demand for the technology has resulted in some of our centers demonstrating a 20% increase year over year cochlear implant program growth compared to the market average of 7%.”

Looking forward to 2025, iotaMotion is well-positioned to continue the momentum of commercial expansion. With Series B funding secured, iotaMotion will use the growth capital to scale commercial operations while driving further innovations in the field of cochlear implantation. The Series B raise also came with an expansion of our Board of Directors with the welcome addition of Jeff Hopkins. Hopkins, a seasoned leader with 30 years of experience in medical technology, has a proven track record of driving strategic growth and creating value for patients and healthcare providers. Notably, he led JNJ’s Acclarent ENT business through a successful turnaround and expansion into the otology and cranial navigation guidance markets.

“I am excited to take an active role on the board of iotaMotion as they disrupt the cochlear implant industry,” said Hopkins. “The technology is impactful for patients with advanced hearing loss and will broaden adoption of neurotology treatments.”

“The completion of our Series B round and addition of Jeff Hopkins to our board, coming on the heels of an exceptional first full year of commercialization, underscores the market’s confidence in our technology,” said Lobinsky. “2025 will be a year marked by rapid commercial growth and continued success in building a robotic-assisted market for cochlear implantation.”

About iotaMotion

iotaMotion, Inc. is a medical technology company based in St. Paul, MN, dedicated to advancing the outcomes of cochlear implantation through innovative, robotic-assisted solutions. The company’s flagship product, the iotaSOFT® Insertion System, offers a groundbreaking approach to cochlear implant surgery by providing enhanced control beyond the capability of a human hand during electrode array insertion. iotaMotion aims to provide hearing professionals with tools to improve patient outcomes and preserve intracochlear structures.

For more information, visit www.iotamotion.com or contact Wade Colburn, Vice President of Marketing and Clinical at [email protected].

SOURCE iotaMotion, Inc.

• Sopra Steria, via Sopra Steria Ventures, acquires a stake in Alice & Bob
• The aim of this investment is to enhance a range of services to support companies in their quantum transformation.

PARIS, Jan. 28, 2025 — Sopra Steria, a major player in the European Tech sector, today announced its participation in the Series B funding round of the start-up Alice & Bob, one of the world leaders in the race for quantum computing with integrated error correction, via Sopra Steria Ventures. This transaction reinforces Sopra Steria’s position at the forefront of the quantum scene.

Alice & Bob is a start-up specialising in the design of quantum processors to develop quantum computers capable of being scaled up in the near future. Quantum computing has the potential to radically transform the current technological landscape. This fast-growing market is already attracting technology leaders such as Google, Amazon and IBM, and could reach €2.3 billion by 2030. Against this backdrop, the technology developed by Alice & Bob will enable businesses of all sizes assess their technological maturity and explore new use cases, accelerating the adoption of quantum computing across multiple business sectors.

“Quantum computing will transform the technological landscape, offering revolutionary opportunities to our clients, which is why we are committed to collaborating with the best players in the sector, including Alice & Bob, and to actively investing in this technology of the future,” comments Socheat Chhay, Managing Director of Sopra Steria Ventures. “We were convinced by Alice & Bob, their visionary approach to the subject and the excellence of their teams, and our investment illustrates our confidence in their project.”

Towards new quantum horizons

Alice & Bob and Sopra Steria have the potential to help large companies define their quantum roadmap for 2030, enabling them to meet the challenges of fast-changing sectors and remain competitive.

Learn More: https://www.soprasteria.com/newsroom/press-releases/details/sopra-steria-takes-part-in-alice-bobs-fundraising-drive

CONTACT: Laura Bandiera, [email protected]

Logo – https://mma.prnewswire.com/media/2607666/SOPRA_STERIA_Ventures_Logo.jpg

• TravelPerk is an all-in-one SaaS business travel platform that aims to give travelers the freedom they want whilst providing companies with the control they need 
• EQT Growth co-leads the round, which values TravelPerk at USD 2.7 billion, alongside Atomico; round also joined by new investors Noteus Partners and Sequoia Capital, as well existing investors like General Catalyst, Kinnevik, Softbank Vision Fund, and Blackstone
• Alongside the financing, TravelPerk announces that it has acquired Yokoy, a leading spend management platform, to create an integrated Travel and Expense Management platform

STOCKHOLM, Jan. 28, 2025 — EQT is pleased to announce that EQT Growth, which aims to support fast-growing technology companies as they continue to scale, has co-led a USD 200 million Series E in TravelPerk. The investment is also led by Atomico, with participation from Noteus Partners and Sequoia Capital, as well as existing investors, including Kinnevik, General Catalyst, Softbank Vision Fund, and Blackstone. The oversubscribed round brings TravelPerk’s valuation to USD 2.7 billion.

As companies face greater economic pressures and more complicated regulatory environments, they are increasingly looking for fully integrated solutions that bring travel and expenses together into one automated platform. TravelPerk’s end-to-end experience simplifies business travel management, streamlining processes and helping companies better control costs. With the acquisition of Yokoy, a leading spend management platform, and through integrations with expense management partners, TravelPerk is well positioned to provide small & medium businesses in Europe and the US highly localized solutions that suit individual needs, while preserving freedom of choice and flexibility.

Founded in 2015 and today headquartered in Barcelona, TravelPerk has recorded 50 percent annual growth over the last two years and reached EBITDA break-even at the end of 2024. The new funding will be used to further accelerate growth, with continued expansion into the US market alongside significant investments into product, technology and AI.

Carolina Brochado, Partner at EQT Growth, who will join the TravelPerk Board, said: “TravelPerk is a clear digital-native leader in the multi-hundred-billion corporate travel market. Most small and mid-market businesses remain unmanaged and underserved in this space. Having followed the TravelPerk team for years, we’ve been consistently impressed by their focus, tenacity, and ambition in disrupting the industry. Their proprietary use of AI is among the best we’ve seen, enabling faster, smarter service for their customers. With the Yokoy acquisition, their product evolves into a true end-to-end T&E solution, further powered by AI.”

“Until now, customers had to make hard trade-offs: an integrated platform or separate, best-in-class travel and expense solutions. A platform delivering a great end-user experience or one focused on the experience for Finance,” commented TravelPerk President and Chief Operating Officer, JC Taunay-Bucalo. “Customers don’t have to compromise anymore. Now, they can have a leading travel management product built on the world’s largest inventory, combined with an expense management product that works for their business.”

Avi Meir, TravelPerk CEO and Co-Founder, added: “Our focus has never been stronger as we expand across core markets, accelerate growth in the US, and now work to become the number one travel and expense management platform. Our partnership with Yokoy has already been a great success, and we are excited to take it to the next level by welcoming Phil, Devis, and the rest of the team to TravelPerk. We share a common vision for the role of AI reshaping the future of travel and expense management, and the innovation coming out of Yokoy’s AI labs in Zurich is seriously impressive.”

Contact
EQT Press Office, [email protected] 

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SAN FRANCISCO, Jan. 28, 2025 — At Roofr, we have always made it our priority to be people-first. We believe that starts with listening to our customers and our team. Since Roofr’s inception in 2016, our team has focused on connecting with roofers, hearing their ideas and common frustrations, and building a product they want and need to help grow their businesses. We’ve spent late nights, early mornings, and weekends replying to Facebook comments in roofing groups, calling our users for feedback, and attending trade shows to get honest opinions on what we can do better. Guess what? It worked.

We have taken that feedback and moved quickly. We built an end-to-end roofing platform that is powerful, fast, and effective. We built scalable tools like measurement reports, lead capturing, proposals, payments, invoicing, material ordering, workflow automation, event tracking, job boards, customer communications, and much more. We spoke with experts, both in roofing and in technology, to make our platform easy to use and even easier to implement into everyday operations. Most importantly, we designed it to work the way a roofing business does, and priced it at a point we knew roofing businesses could afford. We focused on creating products and features that make roofers’ lives easier, giving them more time back to reinvest however they saw fit. Many have scaled their businesses, some grossing millions since using the Roofr platform, and all getting more time back to spend with loved ones.

It may sound straightforward: “build what your audience wants to buy”. It’s simple in theory, yet hard to achieve. We saw other tech companies build too many features users didn’t need, and we were adamant about not making the same mistakes. We spoke at length, debated, and challenged each other to build something that would feel natural to use every day, and be easier to use than roofers current methods. Now, over 12,000 roofing companies rely on Roofr, and as our customer base grows, so does our company, product suite, and customer expectations. That means more people, more decisions, and more at stake. There were two truths Roofr Founder & CEO, Richy Nelson, always held steadfast: the first, listen to your users no matter what; the second, create a culture where people want to come to work. With this investment, Roofr will continue to grow by these principles.

For us, a product is only as good as the people who build it. It’s why we have focused so intently on hiring the right people. We don’t prioritize fancy degrees or accolades. We prioritize great ideas, customer obsession, leaders with empathy, and individuals who think unconventionally. From 10 people to 150+, Roofr’s culture has remained rooted in these values. Through dedication, patience, and careful intention Roofr has built a remote environment where people are excited to log in to work every day. By focusing on creating a world-class culture, we in turn have created a world-class product. Now, it’s time to grow our team and platform faster than ever before.

In 2025, Roofr will become the leading operating system that every roofing company needs to scale their business. This round of funding was led by TCV, a venture firm that has supported category-defining companies like Netflix, Spotify, Facebook, Zillow, and Airbnb as well as vertical SaaS leaders like Toast and Clio. ABC Supply, Crosslink Capital, Euclid Ventures, MGFO, and i2BF have also contributed to this round of funding to help reach our goal of hiring talented people to deliver on our product roadmap faster than ever. This includes new products and features like canvassing, marketing, document builder, job costing, work orders, and more.

Tim McAdam, General Partner at TCV, shared the firm’s enthusiasm for Roofr. “We sought out the opportunity to invest in Roofr because of the teams deep industry knowledge and their innovative, customer-first approach to building a roofing software suite filled with productivity enhancing products. We heard from many happy Roofr customers about the quality and breadth of Roofr’s platform and are excited to support the company’s mission of enabling these business owners to be more successful. We believe their technology and services will not only enhance the success of roofing businesses but also modernize the roofing industry.”

With this funding, we plan to hire new teammates in product, engineering, sales, support, customer success, G&A, and marketing. It means big things are coming, and we’re making it our number one priority to find the right people to help make it happen.

Interested in joining our team? Check out our open roles at roofr.com/careers or send your resume to [email protected].

About TCV
For nearly thirty years, TCV has partnered with global, category-defining, technology companies as a leading growth equity investor. Leveraging its deep industry expertise and strategic resources, TCV’s mission is to provide long-term capital and support to high-quality management teams across their growth journey. Since its founding in 1995, TCV has invested $20 billion in more than 350 technology companies worldwide and has supported over 150 IPOs and strategic acquisitions, making it one of the most active technology investors. Select investments include Airbnb, AxiomSL, Built, CCC Intelligent Solutions, Celonis, Clio, Cradlepoint, ETQ, ExactTarget, Expedia, Facebook, Fandango, Genesys Software, GoDaddy, GoFundMe, HomeAway, Miro, Netflix, Nubank, OneSourceVirtual, Prodege, Qonto, Relex, Revolut, SilverPeak, Splunk, Sportradar, Spotify, Toast, Twillio, and Zillow. TCV has a global presence in Menlo Park, New York, London and Melbourne. For more information on TCV and its investments, visit tcv.com.

SOURCE Roofr Inc.

Canaan Leads Seed Round to Further Scale AI Agents, Already Serving 100+ Companies

NEW YORK, Jan. 28, 2025 — WiseLayer (wiselayer.com), the AI fintech company that makes AI-powered digital workers for finance and accounting teams, today announced $7.2 million in funding. The round was led by Canaan Partners, with participation from K5 Global, The Fintech Fund, Unpopular Ventures, and industry angels.

The funding will fuel the continued development of WiseLayer’s task-specific AI workers, each of whom automates a highly-manual complex recurring process performed by finance & accounting teams. The company’s current digital workforce includes:

• Angela, the AI agent for Accruals & Rev Rec (hire her at www.accruals.ai)
• Dennis, the AI agent for Discrepancies & Financial Anomalies (hire him at www.discrepancies.ai)
• … with the 4 newest AI agents each specializing in the following tasks: (1) bank reconciliations, (2) fixed asset depreciation & amortization, (3) lease accounting, and (4) prepaid expenses.

More than 100 companies currently use WiseLayer’s AI workers, including mid-sized firms & public companies.

“The exceptional early traction that WiseLayer has achieved with its many large customers, each of whom love their product, demonstrates a clear market need,” said Brendan Dickinson, general partner at Canaan Partners. “We’re thrilled to support WiseLayer’s next phase of growth as they enhance their AI-powered digital workforce for finance and accounting teams.”

“Finance & accounting teams have some of the most brilliant people at any company, yet their brainpower is often spent on recurring administrative and compliance tasks like accruals, rev rec, and more,” said Josh Stein, CEO & co-founder of WiseLayer. “WiseLayer’s mission is to build AI agents to automate these repetitive, laborious processes with precision, so that these highly-skilled people can focus on strategic financial initiatives that drive company growth.”

WiseLayer was founded by industry veterans to help finance & accounting departments solve the ever-increasing requirements with financial accuracy and compliance. It’s common for these teams to use multiple different software tools for various crucial tasks, which leads to issues with manual data extraction, data accuracy, and compliance. WiseLayer is the only AI platform that plugs into each of these tools (300+ integrations into every major ERP, billing, P2P, HRIS and more), consolidates the data, and automates time-consuming tasks like accruals, revenue recognition, financial discrepancy detection, and more.

“What makes WiseLayer wholly unique is our focus on creating specialized digital workers that each perform a specific time-consuming financial function – with unprecedented accuracy and efficiency,” said Vik Bellapravalu, CTO & co-founder at WiseLayer. “For example, if you’re a controller at a company, you can use Angela, the AI Agent for Accruals & Rev Rec to reduce your month-end accrual process from days to about an hour.”

“Today, Angela automates about 90% of a company’s accrual process. With our novel & secure AI, we’ll get that to about 98% this year,” said Jack Gillette, Head of Product & Founding Engineer.

The new funding will be used to further delight both new and existing clients by making WiseLayer’s AI workers even more efficient – and developing new AI workers, too. Additionally, the financing will be used to expand customer support infrastructure and drive market expansion.

About WiseLayer

WiseLayer makes AI-powered digital workers for finance and accounting teams. Its digital workers include Angela for Accruals & Rev Rec, Dennis for Discrepancies & Financial Anomalies, and more AI agents who specialize in additional tasks. Founded in 2022, the company is headquartered in New York City and serves finance & accounting teams across multiple industries. More than 100 companies currently use WiseLayer’s AI workers, including mid-sized firms & public companies.

CONTACT: [email protected]

SOURCE WiseLayer

Appointment of Former OurCrowd Principal will Drive Venture Builder and Fund’s Portfolio Growth and Strengthen Strategic Partnerships

HERZLIYA, Israel, Jan. 28, 2025 — Corundum Neuroscience (CNS), a leading neuroscience venture builder and fund, today announced the appointment of Itsik Francis, PhD, as Head of Business Development. The appointment comes as the company continues to expand its portfolio of neurotech ventures and strategic partnerships.

With more than 15 years of experience spanning investment and business development in the medtech and biotech sectors, Francis will focus on driving deal flow and investment strategies to propel Corundum Neuroscience’s portfolio growth. He will also provide targeted support to portfolio companies, ensuring access to vital resources and expertise. In addition, Francis will lead initiatives to strengthen and expand Corundum Neuroscience’s collaborations with key stakeholders, including medtech, medical device, and digital health companies, as well as research institutions and industry leaders worldwide.

“Corundum Neuroscience is at the forefront of advancing neuroscience solutions, and Itsik’s strategic insight and industry expertise will be instrumental in shaping our next phase of growth,” said Yasushi Yamamoto, CEO and Founder of Corundum Corp. “His proven track record in medtech investment and business development makes him a valuable addition to our leadership team as we continue to build and scale transformative neurotechnology ventures.”

Prior to joining Corundum Neuroscience, Francis served as Principal at OurCrowd, where he led key investments and contributed to the launch of the Global Health Equity Fund in partnership with the WHO Foundation. He previously held leadership roles at Medison Pharma Ventures, where he managed strategic alliances and innovation initiatives, and at Ariel Scientific Innovations, where he directed business development efforts. Francis is also the co-founder and former CEO of Citta Pharmaceuticals, a neuro-focused biotech startup. He earned his PhD in Medical Molecular Biology from University College London and conducted postdoctoral research at Columbia University Medical Center, focusing on Alzheimer’s Disease drug discovery.

“I’m excited to join Corundum Neuroscience at such a pivotal time for the neurotech space,” said Itsik Francis. “The CNS vision of translating cutting-edge science into real-world impact resonates deeply with me and I look forward to working with the team to drive new opportunities, strengthen industry collaborations, and support the growth of the firm’s portfolio of ventures.”

About Corundum Neuroscience

Corundum Neuroscience is a venture builder and fund advancing transformative neuroscience solutions from lab-to-life. The Corundum Neuroscience team combines deep domain expertise with a track-record of venture-building success to accelerate neuroscience solutions across the entire innovation lifecycle. Taking a long-term investment approach, Corundum Neuroscience helps researchers, entrepreneurs and startups develop life-changing solutions that target specific disease areas and outcomes to enhance people’s health, longevity and quality of life. Founded by former Joy Ventures executives, Corundum Neuroscience launched in September 2023, and is headquartered in Herzliya, Israel.

For company updates and information, follow Corundum Neuroscience on LinkedIn or visit: https://cnsfund.com.

Media Contact:
Danny Sudwarts
FINN Partners for Corundum Neuroscience
[email protected]
(+1) 469-297-2515

SOURCE Corundum Neuroscience

• Atalanta Therapeutics is pioneering RNA interference (RNAi) for the treatment of neurological diseases, having developed a proprietary platform that, for the first time enables RNAi to be deployed as a therapeutic approach throughout the brain and spinal cord
• The USD 75 million Series B financing will support Phase 1 clinical trials of the company’s investigational RNAi therapies for KCNT1-related epilepsy and Huntington’s disease
• EQT Life Sciences is leading the round investing from its LSP Dementia Fund, which is co-led by Sanofi Ventures with further participation from RiverVest Venture Partners, abrdn, Inc., Mirae Asset Financial Group and F-Prime Capital

STOCKHOLM, Jan. 28, 2025 — EQT is pleased to announce that EQT Life Sciences has led a USD 75 million Series B funding round in Atalanta Therapeutics (“Atalanta” or “the Company”). Atalanta, a biotechnology company based in Boston, USA, is at the forefront of using RNA interference (RNAi) to treat neurological diseases.

RNA is a molecule that carries genetic instructions from DNA, guiding cells in protein production and serving as a blueprint for cellular processes. RNAi is a method of altering these instructions, allowing the targeting of diseases at the molecular level by potentially silencing harmful genes. Atalanta has developed a proprietary RNAi platform called di-siRNA, which, for the first time, enables RNAi to be deployed as a therapeutic approach throughout the brain and spinal cord. With this new funding, Atalanta aims to advance its investigational RNAi therapies for KCNT1-related epilepsy and Huntington’s disease to Phase 1 clinical trials.

Alicia Secor, M.B.A., Atalanta’s President and Chief Executive Officer, said: “We’re excited by the support we’ve received from this strong group of investors, led by EQT Life Sciences. This Series B will support a path to the clinic for two programs for serious neurological diseases that today lack disease-modifying therapies: KCNT1-related epilepsy and Huntington’s disease. We’re diligently progressing these medicines toward IND submissions next year so that we can start our Phase 1 trials and reach patients who are waiting.”

“Atalanta’s di-siRNA technology has shown promising ability to durably and evenly silence disease-promoting genes throughout previously inaccessible regions of the brain and spinal cord – opening a wide range of treatment possibilities for devastating neurological diseases,” said Arno de Wilde, M.D., Ph.D., M.B.A., Managing Director at EQT Life Sciences. “EQT is proud to lead this investment in Atalanta’s future as part of such a high-quality investor syndicate, and we look forward to partnering with Alicia and Atalanta’s leadership to support their continued success.”

Alongside EQT Life Sciences, the financing was co-led by Sanofi Ventures, with participation from other new investors RiverVest Venture Partners, abrdn, Inc., Mirae Asset Financial Group and existing investor F-Prime Capital. The Series B financing brings Atalanta’s total capital generated to date from financings and partnerships with Genentech and Biogen to USD 240 million.

For more information, please contact:
EQT Press Office, [email protected] 

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Topical LUT014 Treats EGFRi (Epidermal Growth Factor Receptor Inhibitor) Induced Acneiform Rash, Potentially Improving The Treatment’s Efficacy And Patients’ Quality of Life

TEL AVIV, Israel, Jan. 28, 2025 — Lutris Pharma, a clinical stage biopharmaceutical company focused on improving anti-cancer therapies by reducing cutaneous dose-limiting toxicity, today announced that it has secured a $30 million financing to advance the development of LUT014, an innovative topically applied gel aimed at reducing EGFRi-induced rashes, a common adverse side effect of these cancer-fighting therapies. The round was led by Columbus Venture Partners and Pontifax Venture Capital, an existing investor, with Peregrine Ventures and aMoon Fund also participating.

While EGFRi therapies are highly effective for the treatment of cancer, they have dose-limiting skin toxicities, leading to substantial discontinuation of patients’ treatment in less than three months due to intolerable acneiform rashes. LUT014, a novel B-Raf inhibitor, is used for patients who develop dose-limiting rashes, potentially allowing them to continue EGFRi treatment with an improved quality of life.

“We are grateful to these investors who recognize the potential of LUT014 to address the significant unmet need caused by the toxicity of EGFRi therapies, which are otherwise effective therapeutic regimens. This financing will enable us to continue the clinical development of LUT014 with the goal of treating the acneiform rash to improve life quality and enabling adherence to EGFRi therapies,” stated Noa Shelach, Ph.D., Chief Executive Officer of Lutris Pharma. “The development and ultimate commercialization of LUT014 aligns with our mission to improve anti-cancer therapy effectiveness and to meaningfully impact the quality of life for patients.”

In October 2024, Lutris successfully completed enrollment in the international phase 2 trial of LUT014 in patients with metastatic colorectal cancer (mCRC) treated with EGFRi therapy who develop dose-limiting acneiform rash. The company expects to report top-line results from this trial during the first half of 2025 at a major medical meeting.

“Based on the broad use of EGFRi’s to treat cancer and the dermal toxicity that often emerges, many of these patients do not receive the optimal treatment against their cancer, either due to dose reduction or outright discontinuation in response to the intolerable dermal toxicity,” stated Antoni Ribas, M.D., Ph.D., Chairman and Founder of Lutris Pharma. “Despite extensive research efforts in the past, no standard of care has emerged to deal with this prevalent issue, leading to a significant unmet medical need. By reversing the inhibitory effect of EGFRi therapy on downstream signaling in the skin cells, we believe that LUT014 has the potential to become an important therapeutic for EGFR inhibitor induced skin toxicity and can have a tremendous impact for patients who currently have no other effective treatment options.”

“Acneiform rash is the most common side effect of EGFRi therapies, with up to 90% of patients experiencing an adverse dermatologic event, taking a toll which can be detrimental to their therapy. It is all too common that patients terminate treatment due to these effects, leading to continued disease progression and prolonged treatment. The need to manage this condition is crucial and Lutris is doing just that with the advent of LUT014,” said Dr. Yael Gruenbaum-Cohen, DMD, PhD, Partner at aMoon Fund. “As development of LUT014 proceeds, we can foresee a paradigm shift wherein EGFRi treatment will be regularly coupled with LUT014 as a valuable adjunct. This aligns with aMoon’s mission of helping people live longer, healthier lives, and we are proud to support Lutris on their journey towards success.”

About EGFR Inhibitor-Induced Rash
EGFR is a receptor on the surface of cells which is expressed in many normal epithelial tissues, including skin. The EGFR signaling pathway is one of the key pathways that regulate growth, survival, proliferation, and differentiation of cells. B-Raf is a protein encoded by the BRAF gene and is a downstream effector component of EGFR signaling pathway. EGFR has been shown to be over-activated in various human cancers, including colorectal, lung, head and neck, urinary bladder, pancreatic and breast cancers, eliciting downstream phosphorylation and activation of the MAP Kinase pathway.

Drugs called EGFR inhibitors can block the EGFR signal responsible for cell growth. Among the various types of pharmacological therapies for cancer, EGFR inhibitors are increasingly being used both as primary therapy as well as in patients who have failed prior chemotherapy. Although effective as anti-cancer therapy leading to tumor shrinkage, EGFR inhibitors have many adverse reactions associated with their use. The majority of patients treated with EGFR inhibitors will experience adverse dermatological side effects typically manifested as a papulopustular skin rash, also known as acneiform lesions, which can impact quality of life and affect adherence to therapy. Accordingly, LUT014 has the potential to impact not only on quality of life but also on oncologic outcome.

About LUT014
LUT014 is a novel B-Raf inhibitor which is applied topically on the skin. When the B-Raf protein is mutated, as is the case in some human cancers such as melanoma, blocking this pathway leads to apoptosis of the cells and tumor shrinkage. However, when the same pathway is blocked in normal, non-mutated cells, the opposite happens: the MAPK pathway is activated, and cells start growing. This phenomenon is recognized as the paradoxical effect of B-Raf Inhibitors. LUT014 harnesses the paradoxical effect of B-Raf Inhibitors in order to reactivate the MAPK pathway and reverse the rash induced by the inhibition of this signaling pathway.

About Lutris Pharma
Lutris Pharma is a clinical stage biopharmaceutical company focused on improving anti-cancer therapy effectiveness and quality of life for patients who are being treated with EGFR (Epidermal Growth Factor Receptor) inhibitors or with radiation, where dermal toxicity often leads to a reduction of anti-cancer therapy compliance. The company aims to provide novel topical therapies in order to mitigate these side effects. Lutris Pharma’s lead asset, LUT014, a topical B-Raf Inhibitor, is a proprietary, first-in-class, small molecule currently completed a phase 2 clinical trial in metastatic colorectal cancer patients with EGFR inhibitor induced acneiform lesions and has successfully completed a phase 1/2 study for the treatment of radiation-induced dermatitis in breast cancer patients.

For more information, please visit www.lutris-pharma.com.

Contacts:

Lutris Pharma
Noa Shelach, Ph.D. 
Chief Executive Officer [email protected]

Rx Communications Group
Michael Miller
+1-917-633-6086
[email protected]

SOURCE Lutris Pharma

BOZEMAN, Mont., Jan. 28, 2025 — Tradeverifyd announced that it has raised an $8m Series A round led by Silicon Road VC and Bread & Butter Ventures, with participation from Acronym, Techstars, and a100x.

Tradeverifyd is redefining the intelligence standard for global enterprise supply chain risk management. The solution evolved over the prior year at mesur.io as a way to bring advanced capabilities developed for government customers to the enterprise. Tradeverifyd provides an advanced AI-driven platform designed to automatically identify and help teams mitigate supply chain risks. The solution is tailored for senior leaders in compliance and procurement aiming to protect their operations from supply chain disruptions and regulatory non-compliance.

“The challenges faced by global companies today are increasing faster than anyone thought possible. Climate change, geopolitics, and uncertainty in the markets is forcing companies to dive into the details of how their supply chains work, and where risks might arise at a level of detail that was not previously required. By partnering with our investors, we are positioning Tradeverifyd to scale to meet the demand we are seeing from the market.” said Michael Prorock, Founder and CEO.

Tradeverifyd’s exponential growth comes at a critical time when supply chain risks and compliance concerns are increasingly in the spotlight. Recent developments, such as the enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) in the United States and the Supply Chain Due Diligence Act (LkSG) in Germany, as well as talks around changing tariffs and export restrictions, have heightened the need for comprehensive supply chain risk management solutions. The average annual cost of major supply interruptions to an enterprise is $228m, a number that since Covid has forced enterprises to take notice and look for solutions.

“There are more environmental and regulatory supply chain risks for anyone engaged in international trade today than ever before,” said Bread and Butter Ventures Managing Partner Brett Brohl. “It has become more costly for large companies to manage these challenges, and the consequences of failing to do so are significant. Tradeverifyd partners with corporations that need help solving these challenges, leveraging AI and a deep understanding of global supply chains.”

“Mesur.io’s Tradeverifyd addresses ‘Surety of Supply,’ one of the most important topics for manufacturers and retailers of all varieties in the United States,” added Sid Mookerji, Managing Partner at Silicon Road Ventures. “Particularly given the changing geopolitical alignments today, using mesur.io’s tech could be the difference between getting merchandise on the shelf in time for significant holidays (e.g., Christmas) and missing out on the opportunity to maximize sales. We at Silicon Road believe that Tradeverifyd will transform supply chains worldwide in the months and years to come.”

The company’s Tradeverifyd Score provides a consistent way to measure each supplier’s ability to deliver the particular products and volumes they have committed to. This includes their compliance and financial posture, as well as examining their suppliers all the way back to raw materials for both long- and short-term risks.

“Without a solid foundation in machine learning, Tradeverifyd would not be able to deliver accurate quantitative analysis,” Prorock added. “AI, enabled by LLMs, provides us the ability to effectively scale sourcing and compliance teams exponentially. Our AI agents are able to make decisions about information gathering, analysis, and recommendations on their own -and to make those decisions in a way that is informed by actual subject matter experts both in the field and within a particular organization. This means that our AI is effectively ‘personalized’ in its decision making for the needs of our customers. This is a huge breakthrough and advantage, and lets Tradeverifyd scale our data processing and analysis delivery at a level that would typically require an order of magnitude more resources. As a result, we can pass this value onto our customers.”

Tradeverifyd will use the new funding to accelerate go to market efforts across the enterprise and to improve support for supply chain leaders responding to changing regulations and compliance needs.

Tradeverifyd, with headquarters in Bozeman, MT, and strategic locations globally will serve as the go-to partner for enterprises to achieve excellence in digital supply chain transformation as they move from reactive to proactive modes of reducing supply chain risk.

For more information, visit https://tradeverifyd.com/

Media Contact: Chris Marley, [email protected]

SOURCE Mesur.io