SINGAPORE, Sept. 3, 2024 — Albatroz Therapeutics, a biotechnology company developing novel therapies against cancer and other indications, today announced its membership of Johnson & Johnson Innovation – JLABS Singapore.

“We are thrilled to join the vibrant life science community at JLABS,” said Dr. Frederic Bard, CEO of Albatroz Therapeutics. “This membership provides Albatroz with invaluable access to mentorship, infrastructure, and industry connections that will be instrumental in propelling our groundbreaking therapies towards the clinic.”

Revolutionizing Cancer Treatment

Albatroz Therapeutics is at the forefront of developing targeted therapies that address critical unmet needs in oncology. The company’s lead programs focus on disrupting key pathways that result in tumor growth and metastasis. By joining JLABS Singapore, Albatroz gains access to a supportive ecosystem that will expedite the translation of its scientific discoveries into life-saving treatments for patients worldwide.

Looking Ahead

“We are confident that our membership with JLABS Singapore will significantly contribute to the success of Albatroz Therapeutics,” Dr. Bard concluded. “We are committed to working diligently to bring our novel therapies to fruition and transform the landscape of cancer treatment.”

About Albatroz Therapeutics

Albatroz Therapeutics is a pre-clinical stage biotechnology company dedicated to developing innovative treatments for cancer, arthritis and other diseases where tissue remodeling is prevalent. The company leverages its deep scientific expertise to identify and target critical pathways involved in the degradation of tissues. Albatroz is committed to translating cutting-edge research into effective therapies that improve the lives of patients.

SOURCE Albatroz Therapeutics Pte Ltd

– Las rondas finales de la Copa del Mundo de la Iniciativa Empresarial se celebran en el Biban Forum 24 y ofrecen acceso a un millón de dólares en premios en metálico

RIAD, Arabia Saudí, 2 de septiembre de 2024 — Arabia Saudí sigue aumentando su prestigio como centro de inversión de categoría mundial, atrayendo a emprendedores de todo el mundo para crear asociaciones de impacto, innovar, lanzar y ampliar sus empresas orientadas al futuro. El Reino está dispuesto a consolidar su reputación como cuna del espíritu empresarial basado en la innovación, con Riad como sede de las rondas finales de la Entrepreneurship World Cup (EWC): uno de los concursos de pitch más grandes, ambiciosos y completos de su clase.

El torneo, que se celebrará durante el Biban Forum 24, el principal foro de empresas emergentes, emprendimiento y PYMEs del Reino, ofrecerá a las empresas emergentes de 151 países la oportunidad de ganar 1.000.000 de dólares en metálico en premios y acceder a capital inicial y de ampliación, nuevas conexiones, tutoría e ideas.

Con Biban Forum 24 como telón de fondo, el EWC servirá de trampolín para que la próxima generación de inversores y empresarios desarrolle todo su potencial.  En consonancia con el espíritu de la edición de este año del Biban Forum, que se celebrará en el Riyadh Front Exhibition & Conference Center del 5 al 9 de noviembre de 2024 bajo el lema Destino Global de Oportunidades. El concurso de ideas pondrá de relieve el ingenio y la inventiva de los líderes empresariales del mañana.

Creado por primera vez en 2019 por la Global Entrepreneurship Network y la Fundación Misk de Arabia Saudí, el EWC ha acogido a más de 400.000 emprendedores que compiten por diversas recompensas económicas y oportunidades de crecimiento. Desde su creación, el concurso ha conectado a fundadores con más de 4 millones de dólares en premios en efectivo.

El año pasado, la final mundial del EWC se celebró en el Biban Forum 23, donde se enfrentaron 100 empresas innovadoras de 53 países. La competición marcó un hito importante para el espíritu empresarial saudí, ya que WhiteHelmet, una empresa nacional, fue anunciada como la primera empresa emergente saudí en ganar el gran premio de EWC, llevándose a casa 300.000 dólares.

Sami Ibrahim Alhussaini, gobernador de la Autoridad General de la Pequeña y Mediana Empresa, «Monsha’at», declaró: “Estamos encantados de acoger una vez más la Copa del Mundo de la Iniciativa Empresarial en Riad. El espíritu empresarial es la espina dorsal de nuestra economía, y nos enorgullece enormemente provocar un cambio positivo, no sólo en Arabia Saudí sino en todo el mundo, dotando a las empresas y a los empresarios del futuro de las herramientas necesarias para construir un mañana más próspero”.

Si desea conocer más acerca de la Copa del Mundo de la Iniciativa Empresarial, visite: https://bibanglobal.sa/ 

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RIYADH, Saudi-Arabien, 2. September 2024 — Saudi-Arabien entwickelt sich immer mehr zu einem weltweit führenden Investitionszentrum, das Unternehmer aus der ganzen Welt anzieht, die hier wegweisende Partnerschaften eingehen, Innovationen entwickeln und ihre zukunftsorientierten Unternehmen gründen und ausbauen. Mit der Ausrichtung der Endrunde des Entrepreneurship World Cup (EWC) in Riad wird das Königreich seinen Ruf als Wiege innovativer Unternehmerschaft weiter festigen: einem der größten, ehrgeizigsten und umfassendsten Pitch-Wettbewerbe seiner Art.

Im Rahmen des Biban Forum 24 – dem führenden Forum für Start-ups, Unternehmertum und KMU im Königreich – wird das hart umkämpfte Turnier aufstrebenden Start-ups aus 151 Ländern Gelegenheit bieten, sich zu präsentieren. Sie haben die Möglichkeit, Geldpreise in Höhe von 1.000.000 Dollar zu gewinnen und den so wichtigen Zugang zu Start- und Wachstumskapital, neuen Verbindungen, Mentoren und Ideen zu erhalten.

Mit dem Biban Forum 24 als passender Kulisse wird der EWC als Sprungbrett für die nächste Generation von Investoren und Unternehmern dienen, um ihr Potenzial auszuschöpfen. Ganz im Sinne der diesjährigen Ausgabe des Biban Forum, das vom 5. November bis 9. November im Riyadh Front Exhibition & Conference Center unter dem folgenden Motto stattfinden wird: Globaler Ort für Chancen. Bei dem Pitch-Wettbewerb werden der Einfalls- und Erfindungsreichtum der Wirtschaftsführer von morgen unter Beweis gestellt.  

Der EWC wurde 2019 vom Global Entrepreneurship Network und der saudi-arabischen Misk Foundation ins Leben gerufen und hat seither mehr als 400.000 Unternehmer begrüßt, die um verschiedene finanzielle Belohnungen und Wachstumsmöglichkeiten konkurrieren. Seit seiner Gründung hat der Wettbewerb Gründer mit Geldpreisen in Höhe von über 4 Millionen Dollar ausgezeichnet.

Letztes Jahr fanden die EWC Global Finals im Rahmen des Biban Forum 23 statt, wo 100 innovative Start-ups aus 53 Ländern gegeneinander antraten. Der Wettbewerb markierte einen bedeutenden Meilenstein für das saudische Unternehmertum, denn WhiteHelmet – ein einheimisches Unternehmen – wurde als erstes saudisches Start-up bekannt gegeben, das den EWC-Hauptpreis in Höhe von 300.000 Dollar gewonnen hat.

Sami Ibrahim Alhussaini, Direktor der Generalbehörde für kleine und mittlere Unternehmen, „Monsha’at”, sagte: „Wir freuen uns sehr, den Entrepreneurship World Cup erneut in Riad auszurichten. Das Unternehmertum ist das Rückgrat unserer Wirtschaft, und wir sind sehr stolz darauf, nicht nur in Saudi-Arabien, sondern auf der ganzen Welt einen positiven Wandel herbeizuführen, indem wir den Unternehmen und Geschäftsleuten der Zukunft die Instrumente an die Hand geben, mit denen sie eine wirtschaftlich erfolgreichere Zukunft aufbauen können.”

Um mehr über den Entrepreneurship World Cup zu erfahren, besuchen Sie bitte unsere Website: https://bibanglobal.sa/ 

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HONG KONG, Sept. 2, 2024 — IDA, a premier Hong Kong-based digital asset company, has raised USD6 million in a seed funding round led by prominent blockchain investors CMCC Global, under its Titan Fund, and Hashed. This capital injection will enable IDA to advance the development and launch of its first fiat-referenced stablecoin, HKDA, which is designed to be regulated in Hong Kong.

Additional participants in this round also include Hack VC, Anagram, GSR, Protagonist, Brinc, Chorus One, Kenetic, SNZ, and Yolo Investments as well as notable angel investors, such as Raj Gokal, Co-founder of Solana.  Aside from providing funding, leading blockchain foundations of Solana, Polygon, Aptos, and Mantra are also IDA’s strategic blockchain partners to foster HKDA’s interoperability, accessibility, resilience, and liquidity.

“With the current total stablecoins market cap around USD170 billion, we expect stablecoins to grow over USD3 trillion in the next 5 years.  This exponential growth will underscore the increasing significance of stablecoins in the broader digital currency landscapes.  Thus, IDA’s mission is to facilitate more effective and efficient cross-border trades through the blockchain for everyone,” said Lawrence Chu, Co-founder and CEO of IDA.

Sean Lee, Co-founder and CSO of IDA added, “the first goal of IDA is to enable mass adoption and empower businesses to seamlessly integrate between Web2 and Web3. To achieve this, IDA has begun active engagements with the Hong Kong Monetary Authority (HKMA) and the Financial Services and the Treasury Bureau (FSTB), as well as domestic partners in the ecosystem, to issue regulated stablecoins in Hong Kong. HKDA, our first fiat-referenced stablecoin built on public blockchains, will shortly be heading onto testnet. We intend for our mainnet launch before the end of this year and achieve regulatory clarity in early 2025.”

CMCC Global, one of Asia’s first VC funds focused purely on blockchain and cryptocurrency, is thrilled to lead this funding round and partner with IDA to push the boundaries in Web3 space. “As a Hong Kong-based company, we are excited to support innovative Web3 companies like IDA that are leveraging blockchain finance and stablecoins to create solutions addressing real-world challenges,” said Martin Baumann, Co-founder and Managing Partner of CMCC Global.

Hashed, a global early-stage venture fund focused on backing founders who are pioneering the future of blockchain and cryptocurrency, also shares the same vision as IDA. “We anticipate wider mainstream adoption of stablecoins in real-world trades and settlements. With Hong Kong’s position as Asia’s financial hub and its recent push for a stablecoin legislative framework, we expect IDA to spearhead the coming changes. Their unique blend of expertise in traditional finance and blockchain technology positions them perfectly to bridge conventional and digital financial systems, potentially reshaping finance across Asia and beyond,” said Ryan Kim, Founding Partner at Hashed.

Starting initially in Hong Kong, IDA will leverage the forefront of fintech and Web3 to reach other countries whose currency is also pegged to the USD. Over time, IDA aims to share their innovations and grow their business to other nations along the Belt and Road and Global South initiatives.  More exciting partnerships will be announced to unlock a more inclusive and connected global marketplace.

Note: The current total stablecoins market cap is based on the data provided by defillama.com at 18:00 HKT on 2024-08-26.

About IDA Finance Hong Kong Limited (IDA)

IDA is the premier digital asset technology company to spearhead the widespread adoption of blockchain finance and to empower businesses to seamlessly integrate between Web2 and Web3.   

HKDA, a fiat-referenced stablecoin built on public blockchain protocols, will be the first product launched by IDA.  HKDA is designed to drive enhanced digital connectivity for seamless commerce and payments between Hong Kong and global markets, 24/7/365.  To maintain the highest level of security and stability, all circulating HKDA will always be fully backed by at least 100% reserve assets in regulated Hong Kong based authorized institutions.   

To maximize the network effect of HKDA for domestic and cross-border usage, IDA is partnering with key industry players to facilitate the minting, redemption and widespread acceptance of HKDA as a payment and settlement digital currency.   In subsequent phases, IDA will also launch key products denominated in other US Dollar (USD) pegged currencies with ecosystem partners across regulated financial institutions and Web3 platforms. 

More information can be found at www.idafi.xyz / LinkedIn / X 

About CMCC Global & Titan Fund

CMCC Global is one of Asia’s first venture capital companies focused solely on blockchain and Web3 investments. CMCC Global has an enviable record of investing early in leading projects such as Ethereum (ETH) at USD7, Solana (SOL) at USD0.20 and Cosmos (ATOM) at USD0.10. CMCC Global has reached assets under management (AUM) of over USD500 million across its funds and is known as a high-conviction investor. Today the company has offices in Asia, North America and Europe and operates several funds with different strategies including the CMCC Global Digital Asset Fund, the Titan Fund and its two funds of quantitative trading hedge funds Crest and SYZCrest.

More information can be found at www.cmcc.vc

Titan Fund offers accredited investors exposure to attractive growth opportunities within the blockchain ecosystem through a traditional equity venture capital investment strategy focusing on seed to series A/B along the key investment verticals of Infrastructure, Fintech and Consumer Applications.  The Titan Fund is CMCC Global’s latest fund strategy and complements its Digital Asset Funds, which have been investing directly into protocols and digital assets since 2016, and its Crest family of funds that invests into crypto and quant funds.

More information can be found at www.titan.fund 

About Hashed

Founded by a team of serial entrepreneurs and engineers in 2017, Hashed is the preeminent blockchain firm in Asia with a portfolio that spans the globe. We started Hashed because we saw an opportunity for blockchain to not only reinvent the global financial system, but the very fabric of the internet itself. This is one of the most consequential moments in human history — an opportunity to overlay the power of digital networks onto human ones, and to usher in a future where technology empowers individuals, and not the other way around.

More information can be found at www.hashed.com

SOURCE IDA

RIYADH, Saudi Arabia, Sept. 2, 2024 — Saudi Arabia continues to grow in standing as a world-class investment hub, attracting entrepreneurs from around the world to pioneer impactful partnerships, innovate, launch, and scale their future-focused enterprises. The Kingdom is set to consolidate its reputation as the home of innovation-led entrepreneurship, with Riyadh hosting the final rounds of the Entrepreneurship World Cup (EWC): one of the largest, most ambitious, and comprehensive pitch competitions of its kind.

Taking place during Biban Forum 24 — the Kingdom’s flagship startup, entrepreneurship, and SMEs Forum — the fiercely competitive tournament will provide up-and-coming startups from 151 countries. The opportunity to win $1,000,000 in cash prizes and gain all-important access to start- and scale-up capital, new connections, mentorship, and ideas.

With Biban Forum 24 setting a fitting backdrop, EWC will serve as a springboard for the next generation of investors and entrepreneurs to fulfill their potential.  In keeping with the spirit of this year’s edition of Biban Forum, which will be held at the Riyadh Front Exhibition & Conference Center from November 5^th to 9^th, 2024 under the theme of Global Destination for Opportunities. The pitch competition will shine a light on the ingenuity and inventiveness of tomorrow’s business leaders.  

First established in 2019 by the Global Entrepreneurship Network and Saudi Arabia’s Misk Foundation, EWC has welcomed over 400,000 entrepreneurs to vie for diverse financial rewards and growth opportunities. Since its inception, the competition has connected founders with over $4 million in cash prizes.

Last year, the EWC Global Finals were held at Biban Forum 23, with 100 innovative startups from 53 countries going head-to-head. The competition marked a significant milestone for Saudi entrepreneurship, as WhiteHelmet — a homegrown company — was announced as the first-ever Saudi startup to win the EWC grand prize, taking home $300,000.

Sami Ibrahim Alhussaini, Governor, Small and Medium Enterprises General Authority, “Monsha’at,” said: “We are delighted to be hosting the Entrepreneurship World Cup in Riyadh once more. Entrepreneurship is the backbone of our economy, and we take great pride in effecting positive change — not just in Saudi Arabia but around the world — by equipping the businesses and businesspeople of the future with the tools to build a more prosperous tomorrow.”

To learn more about the Entrepreneurship World Cup, please visit: https://bibanglobal.sa/  

SOURCE Monshaat

Angel Studios is Raising Funds to Expand its One-of-a-Kind Community of over 345,000 Angel Guild Members—Fundamentally Transforming Entertainment to an Audience-Driven Model Where Fans Greenlight Development and Distribution of Movies and TV Shows

PROVO, Utah, Aug. 30, 2024 — Angel Studios—the studio empowering everyday fans to greenlight development and distribution of movies and TV shows—is launching a new Regulation A+ offering (where Angel takes investments from fans) today in order to expand the growth of the Angel Guild. Guild members are the “secret sauce” behind the discovery of global hits like SOUND of FREEDOM, HIS ONLY SON, CABRINI, Tuttle Twins, Dry Bar Comedy, and other hit movies and TV shows. Angel Studios was one of the top 10 Studios in the US domestic box office in 2023, surging past Amazon’s MGM and A24.

“In the Hollywood gatekeeper system, a handful of elites in an LA boardroom make decisions on what everyone in the world watches. At Angel Studios, we don’t believe that there is a group of elites who are smarter than the viewers. That’s why as executives at Angel Studios, we can’t even consider a film unless the Guild first greenlights the movie or TV show, since that decision power is vested to the Angel Guild. The Guild is made up of over 345,000 people from over 150 countries and is in the driver’s seat. This offering will enable Angel Studios to grow the Guild to over one million members,” said Jeffrey Harmon, co-founder and Chief Content Officer at Angel Studios. “When we reach one million members, we believe our community will reach escape velocity as a movement, making the people’s studio a driving force in the entertainment landscape.”

You can invest at angel.com/invest with a minimum investment of $151.20.

Pitch video for the fundraiser: https://www.youtube.com/watch?v=zcflXNWaRXo

The launch of a new Regulation A+ (Reg A+) offering opens up the opportunity for crowd investors to join in the potential growth of Angel Studios and also support an impressive slate of upcoming movies and TV shows, offering a unique chance to be involved in the entertainment industry’s next big successes.

Angel Studios Guild-Driven Successes

• 45 million downloads worldwide of the Angel App across all platforms including AppleTV, ROKU, FireTV, XBOX, Samsung Smart TV, LG Smart TV, Google TV, and more.
• Angel Studios movies and TV shows are commonly available in English, Spanish, and Portuguese.
• Dry Bar Comedy has over 5 billion views and over 150 million viewers.
• Over 700 filmmakers submitted over 900 projects to the Angel Guild from April 2023 to April 2024.
• Angel Studios’ films have the highest average Popcornmeter score (95%) from Rotten Tomatoes of any major studio in the industry. Ahead of second place Paramount at 84%.
• Angel Studios is behind hits such as SOUND of FREEDOM, HIS ONLY SON, CABRINI, SOUND of HOPE: The Story of Possum Trot, THE SHIFT, AFTER DEATH, and TV series such as Tuttle Twins, Wingfeather Saga, Freelancers, and Young David.
• Angel Studios is releasing SWEETWATER, The 1916 PROJECT, BONHOEFFER: Pastor, Spy, Assassin, and HOMESTEAD this year, and is expected to release at least seven movies and seven TV series in 2025.

About Angel Studios: Angel Studios is a values-based distribution company for stories that amplify light to mainstream audiences. Through the Angel Guild, 345,000 members choose which film and television projects the studio will market and distribute. 104,000 Angel Guild members in 155 countries have invested nearly $80M in projects distributed by the studio to date. Angel Studios is behind the global box office hit, SOUND OF FREEDOM, which has earned $250 million in theatrical box office. Learn more at Angel.com. Click here for important information and disclosures related to the offering. Make sure you read all documentation related to the offering before making an investment decision.

Film Contact: [email protected]

SOURCE Angel Studios, Inc.

LOS ANGELES, Aug. 30, 2024 — Crafty Apes, a full-service visual effects powerhouse with eight global studios in New York, Atlanta, Los Angeles, Canada and London, among others, received a strategic investment from a consortium of institutional investors led by investment funds managed by Morgan Stanley Investment Management and Camberline Capital Management.

The investment focuses on Crafty Apes’ strategic growth in the areas of global facility expansion, increasing headcount in key markets, and production infrastructure. The strategy and capital investment were developed in close partnership with the Crafty Apes board and executive leadership team, including the original founders and the company’s officers. The capital is designed to strengthen operations, ensure long-term growth, and enhance service offerings in response to the evolving needs of the entertainment industry.

CEO Alana Newell commented on the investment: “Our investors are global leaders in strategic investment, and we are thrilled that this partnership will enable Crafty Apes to be where our clients need us most while strengthening our existing teams and infrastructure across North America and Europe. As the industry begins to recover from recent challenges, content creation is beginning to crescendo again, and we will continue to serve the creative needs of our clients as the industry picks up globally. This investment is a testament to Crafty Apes’ resilient business model and our commitment to navigating industry challenges with strength and agility.”

Jonathan Spivak, Managing Director at Morgan Stanley Investment Management, said: “We believe Crafty Apes has a reputation for delivering top-tier digital work on many of the most well-known IP’s. As we have watched and worked with management for several years, our confidence in the team has only strengthened with their navigation of the business during the industry’s recent strikes.” Jens Ernberg, Managing Partner at Camberline Capital Management added: “We look forward to continuing to support the management team as they capitalize on the entertainment sector’s recovery and participating in Crafty Apes’ long-term success.”

About Crafty Apes
Crafty Apes is a full-service visual effects company with studios in Los Angeles, Atlanta, Vancouver, Montreal, London, Albuquerque, New York, and Louisiana. Founded by Chris LeDoux, Jason Sanford and Tim LeDoux, Crafty Apes has a talented roster of creative and production supervisors that offer a full suite of VFX services, including set supervision, VFX consultation, 2D and 3D compositing, digital cosmetics, machine learning solutions and CG imagery. Crafty Apes’ work can be seen on such titles as La La Land, Spider-Man: No Way Home; Hidden Figures, Justice League: Snyder Cut; The Holdovers and The Boys. For more information, visit www.craftyapes.com.

About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,300 investment professionals around the world and $1.5 trillion in assets under management or supervision as of June 30, 2024. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.

About Camberline Capital Management
Camberline Capital Management is an independent asset management firm that partners with management teams and company owners to deliver private capital solutions that support the successful execution on their strategic ambitions. The Camberline team draws upon over 80 years of collective investing experience to structure capital solutions that are tailored to the specific needs of companies operating in underserved segments of the middle market.

For further information about Camberline Capital Management, please visit www.camberlinecapital.com.

Crafty Apes Media Contact:
Storyline Public Relations
Marilyn Lintel
[email protected]

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SHANGHAI, Aug. 30, 2024 — The Lingang Center served as a vibrant hub of innovation and excitement on August 28, 2024, as it hosted the Grand Finals of the X-TIME 2024 International Entrepreneurship Competition. The event attracted over 300 attendees in person and captivated 2 million online viewers, all eager to witness the prestigious competition.

Hosted by the Lin-gang Special Area Administrative Committee, the event featured Shanghai Bank as the primary partner, with Plug and Play China and Lingang Group serving as co-organizers. Since its launch in March, the competition has attracted nearly 500 outstanding enterprises from around the world. Forty-eight projects advanced to the global semi-finals. The top honors went to Pulse Vision, Black Lake Technologies, Lingfang New Energy, and Uni-Sentry for their exceptional innovation, advanced technology, and significant market potential.

Witnessed by expert judges, local industry leaders, technology observers, and the Shanghai Pudong Notary Public Office, the event kicked off with the semi-finals. Forty-eight shortlisted teams gathered to showcase their technological innovations, flexible business models, sustainable team development, and profound social value. The Grand Final was even more exciting and inspiring. Each participant had only three minutes to present their projects. Judges posed sharp and probing questions, while participants remained poised, delivering clear and precise answers. The atmosphere was charged with tension as real-time updates on scores and rankings kept everyone on edge, amplifying the sense of anticipation and excitement throughout the event.

Ultimately, four startups received top awards for their leadership in innovative technology, unique business models, and social value. Eight startups earned second prizes for their innovative concepts, technological prowess, and market positioning. Sixteen startups were awarded third prizes for their exceptional business insights and execution. Additionally, twenty startups received the Excellence Award for their extraordinary creativity and persistence, reflecting the intense competition and innovative energy of the event.

Following the competition, Shanghai Bank announced exclusive financial service for X-TIME 2024 participants. The Lin–gang Science and Technology Innovation Investment Fund signed investment agreements with selected companies and financial partners, while X-TIME 2024 participants signed landing intention agreements with the Lin-gang New Area.

The successful conclusion of the X-TIME 2024 International Entrepreneurship Competition added a significant chapter to the fifth-anniversary celebration of the Lin-gang New Area, marking its advancement into the 2.0 era of technological innovation. By adopting a “competition instead of recruitment” model, the event has ignited the core of future technological industries, providing momentum for the development of cutting-edge sectors in the new area. The Lin-gang New Area is now poised to welcome global innovative ideas, offering development resources, industry ecosystems, and supportive policies to future entrepreneurs.

SOURCE Plug and Play China

Ground-breaking investigational product from Melodi Health is designed to reduce post-surgical infections and other complications for breast cancer patients

MINNEAPOLIS, Aug. 29, 2024 — Melodi Health, a medical device company, announced two milestones today: the close of a $10.75 million oversubscribed Series A financing; and the launch of the “ARIA” investigational device exemption (IDE) trial aimed at improving clinical outcomes for women undergoing breast reconstruction after mastectomy. The Minneapolis-based company is committed to developing medical products that transform breast reconstruction and impact women undergoing treatment for breast cancer.

The Series A proceeds will be used to fund clinical activities and additional product development activities. Melodi Health has raised $15 million since its founding in February 2021. Series A investors include HM Venture Partners, Engage Venture Partners, Southeast Minnesota Capital Fund, and Three Bridges Private Capital.

“We are thrilled to achieve these important financial and clinical milestones, namely the first implant of a device being evaluated for safety and efficacy that is designed to provide soft-tissue support and reduce post-surgical infections associated with breast cancer surgery,” said Sarah Worrell, co-founder and CEO of Melodi Health. “This device is unlike anything surgeons currently have in their toolbox to mitigate a situation that occurs in as many as 14% of women undergoing mastectomy followed by reconstruction.”

“Breast cancer patients come to me at a terrible time. My purpose is to help them, and I know I need the best available options for infection prevention and cosmetic results. As a reconstructive surgeon, I want to restore what cancer took from my patients. I can’t do that if infections and complications intercede. Reconstructive surgeons have been looking for the next generation of soft tissue support, and we now have that with the investigational Melodi Matrix, which is designed to give both soft tissue support and infection reduction,” said Hunter Moyer, MD, chief medical officer of Melodi Health.

Melodi Health’s “ARIA” Pivotal IDE Trial
Today, there are no FDA-approved soft tissue support products for use in breast surgery, and none that contain antibiotics.

The Absorbable Antibacterial Soft Tissue Support in Breast Reconstruction with Infection Outcomes Assessment (ARIA) clinical trial is a multicenter, nationwide, randomized, controlled study evaluating the safety and efficacy of the Melodi Matrix™ to support an FDA Approval for an indication in breast reconstruction. The Melodi Matrix, an absorbable mesh that is designed to support soft tissue while providing controlled release of antibiotic agents as it is absorbed into the body, is an implantable medical device comprised of proprietary technology licensed from Medtronic by Melodi Health.

Melodi’s first patient was enrolled at University of Utah Health. “A 10-14% national average infection rate in breast reconstruction is not acceptable,” said Alvin Kwok, MD, associate professor of surgery and principal investigator at University of Utah Health. “I look forward to offering the Melodi Matrix to patients in this trial and observing the impact of this device on patient outcomes, including infections.”

About Melodi
Melodi Health is committed to transforming breast reconstruction through surgical innovation with the aim to meaningfully improve outcomes in a patient population that is undergoing complicated treatment regimens. Melodi’s flagship offering, the Melodi Matrix, is based on proven technology from Medtronic. The Melodi Matrix is a bioabsorbable mesh that elutes antibiotic agents and is fully absorbed by the body. Melodi has licensed Medtronic technology for the breast surgery field of use. To learn more, visit www.MelodiHealth.com.

SOURCE Melodi Health