Backer has acquired the web’s premier 529 destination Saving For College to modernize 529s with fintech and AI
SAN FRANCISCO, Dec. 19, 2023 — Today Backer, the leading fintech company focused on tax-advantaged 529 Savings Plans, announced its $9.5M Series A round of financing and the acquisition of Saving For College (savingforcollege.com), the top 529-related media property and education savings resource that millions of American families rely on each year.
“From day one, our mission has been to use technology to help the 529 industry reach a younger generation of parents,” said Jordan Lee, Backer’s founder and CEO. “As we enter a new era of AI-powered tech, we see an exciting opportunity to combine the industry’s highest-traffic web destination with the industry’s top product team to modernize the way American families discover, enroll in, and engage with 529 plans.”
529s have existed as a powerful college savings tool for decades, growing to over $450 billion in assets across 16 million accounts. In recent years, Congress has expanded their use to cover K-12 private school tuition, apprenticeship programs, and student loan debt. Most recently, Congress made it possible to transfer some unused 529 savings into a Roth IRA. Since its founding in 1999, Saving For College has been the top 529 information resource used by tens of millions of Americans to navigate an intimidating landscape of 529 plan options and make the right choice for their family.
Backer has earned a reputation for innovation within the 529 industry. Since its debut in 2017, the Backer consumer savings app has helped more than 200,000 parents and kids save a projected $250 million for education, with 40% of the savings coming from family and friends. Backer’s high-conversion enrollment process, consumer-grade gifting platform, and first-of-its-kind mobile app have made it an important technology partner for the country’s many 529 programs.
Backer’s venture round was led by WndrCo, a team of Silicon Valley builders and operators founded by early Dropbox executive Sujay Jaswa and Hollywood legend Jeffrey Katzenberg. “We are thrilled to partner with Backer to transform how families across America save for college. We believe high-quality educational content and intuitive consumer experiences are the keys to improving financial literacy,” said WndrCo General Partner ChenLi Wang.
“For decades, Saving For College has been an indispensable resource for American families and the many finance professionals working at the state level to grow 529 adoption,” said Lee. “We are honored to partner with the domain experts at Saving For College to ensure that 529s will continue to meet the needs of generations to come.”
About Backer Backer is the leading fintech company focused on 529 plans. It makes saving for education simple, helping ordinary families tap into tax-free investing with support from family and friends. Backer is headquartered in San Francisco, CA. Visit backer.com or follow @backer529 to learn more.
About Saving For College For over 20 years, Saving For College has been the premier education savings destination for parents and financial professionals, providing them with information and tools to understand the benefits of 529 Savings Plans and how to meet the challenge of rising college costs. Visit savingforcollege.com or follow @saving4college to learn more.
About WndrCo WndrCo is a multi-stage technology investment firm that builds companies and makes venture capital and seed investments. Founded in 2016 by Jeffrey Katzenberg and Sujay Jaswa, WndrCo’s team is based in San Francisco and New York. Visit wndrco.com to learn more.
PHOENIX, Dec. 19, 2023 — Trinity Capital Inc. (NASDAQ: TRIN) (“Trinity”), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $40 million in term loans to Taysha Gene Therapies, Inc. (NASDAQ: TSHA) (“Taysha”), a clinical-stage gene therapy company, pursuant to a Loan and Security Agreement dated November 13, 2023, by and among Taysha, the lenders party thereto from time to time (the “Lenders”), and Trinity, as administrative agent and collateral agent for the Lenders.
Taysha is focused on developing and commercializing AAV-based gene therapies for the treatment of monogenic diseases of the central nervous system (“CNS”). Its lead clinical program TSHA-102 is in evaluation for Rett syndrome, a rare neurodevelopmental disorder with no approved disease-modifying therapies that treat the root cause of the disease. The Company’s management team has proven experience in gene therapy development and commercialization. Taysha leverages this experience, its manufacturing process and its intrathecal delivery in combination with a clinically and commercially proven AAV9 capsid, in an effort to translate treatments from bench to bedside.
“We are excited to partner with Taysha as it advances its lead gene therapy program in clinical evaluation for Rett syndrome, and believe Taysha has the potential to achieve significant advancements in the gene therapy field,” said Igor DaCruz, Managing Director, Life Sciences at Trinity. “We look forward to working together with their management team as Taysha focuses on bringing novel treatments with disease-modifying potential for diseases, like Rett syndrome, with high unmet need.”
With the term loan, Taysha believes it will be able to fund its operating expenses and capital requirements into 2026 to support the clinical development of its TSHA-102 program in Rett syndrome.
“We are highly encouraged by the support from Trinity, which we believe further reinforces Taysha’s vision to transform the lives of patients suffering from devastating diseases through the development of AAV-based gene therapies,” said Kamran Alam, Chief Financial Officer of Taysha. “With Trinity’s support, we believe we are well-positioned to continue to execute across our near-term milestones for our TSHA-102 program in Rett syndrome.”
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital’s investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company’s website at www.trinitycap.com.
About Taysha Gene Therapies
Taysha Gene Therapies (Nasdaq: TSHA) is on a mission to eradicate monogenic CNS disease. With a singular focus on developing curative medicines, we aim to rapidly translate our treatments from bench to bedside. We have combined our team’s proven experience in gene therapy drug development and commercialization with the world-class UT Southwestern Gene Therapy Program. Together, we leverage our fully integrated platform with a goal of dramatically improving patients’ lives. More information is available at www.tayshagtx.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “expects,” “intends,” “projects,” “plans,” and “future” or similar expressions are intended to identify forward-looking statements. Forward-looking statements include statements concerning: Taysha’s ability to fund its operating expenses and capital requirements into 2026, the potential benefits of TSHA-102 and Taysha’s other preclinical product candidates, the potential for Taysha to achieve significant advancements in the gene therapy field and Taysha’s ability to execute across its near-term milestones. Forward-looking statements are based on current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding Taysha’s business are described in detail in its Securities and Exchange Commission (“SEC”) filings, including in its Annual Report on Form 10-K for the full-year ended December 31, 2022, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, both of which are available on the SEC’s website at www.sec.gov. Additional information will be made available in other filings that Taysha makes from time to time with the SEC. Such risks may be amplified by the impacts of the COVID-19 pandemic. These forward-looking statements speak only as of the date hereof, and Taysha and Trinity disclaim any obligation to update these statements except as may be required by law.
The EIC has tapped FGen and partners to work on developing a sustainable, alternative approach to milk production using only CO2 and electricity
FGen will focus on ultra-high throughput screening of bacteria engineered to convert CO2 into a major whey protein
Utilizing microbial systems — instead of livestock — to produce valuable food ingredients will be critical for sustainable bioproduction of foods, medicines, and chemicals
BASEL, Switzerland, Dec. 19, 2023 — FGen AG, a subsidiary of Ginkgo Bioworks (NYSE: DNA), based in Switzerland, has been awarded funding through the European Innovation Council’s (EIC) Pathfinder Challenge program. This is part of an international research consortium that aims to develop a new, sustainable approach to milk protein production using only carbon dioxide and electricity. The consortium, led by Finnish food tech innovator, Solar Foods, and also including leading researchers from the University of Groningen and RWTH Aachen University, was selected from more than 440 proposing teams for their four-year, €5.5M “high-risk/high reward” project playfully named HYDROCOW.
FGen AG, a Ginkgo Bioworks Subsidiary, Awarded Funding Through European Innovation Council’s Pathfinder Programme For Sustainable Milk Protein Production Project
Converting CO2 directly into valuable proteins
The HYDROCOW team will work to genetically engineer hydrogen oxidizing bacteria (HOB) to convert carbon from CO2 gas and nitrogen from N2 into beta-lactoglobulin, a major whey protein found in cow’s milk. Beta-lactoglobulin is used in food applications such as infant formula, protein supplements, and baked goods. Microbial systems that can produce valuable food ingredients and other products directly from CO2 will be critical for sustainable bioproduction of foods, medicines, and chemicals.
Leveraging FGen’s powerful screening technology
Engineered microbes capable of producing beta-lactoglobulin will undergo ultra-high throughput testing at FGen, leveraging its cutting-edge platform that makes it possible to rapidly search through up to 1 million HOB variants in a single run. The highest performing HOB strains identified by FGen will then be validated by Solar Foods under autotrophic growth conditions in an industrially-relevant bioproduction environment.
“We built our platform to help innovative companies like Solar Foods enable sustainable nutrition solutions, including alternative dairy. We’re excited to leverage our powerful screening technology through FGen, and to play a critical role in this space for our commercial and government partners around the world,” says Dr. Andreas Meyer, Senior Foundry Lead at Ginkgo Bioworks and co-founder of FGen. “This project is built around a world-class team of research and development partners, and we’re proud to do our part to bring this promising technology forward.”
“The EIC supports the HYDROCOW project in its pursuit to develop sustainable bioproduction methods directly from CO2 and nitrogen compounds,” said EIC Project Officer Olivier Dahon. “EIC is supporting scientific innovation through our portfolio approach for funding research projects under the Pathfinder Challenge: ‘Carbon Dioxide and Nitrogen Management and Valorisation.’ Bringing precision fermentation for sustainable food ingredients from the lab to the market is considered critical for the achievement of the EU Green Deal. Success in this area can provide the technological basis to contribute to a sustainable development of our society,” said EIC Program Manager Francesco Matteucci.
If successful, the HYDROCOW project will enable novel nutrition-focused bioproduction methods that are not reliant on photosynthesis and conventional agriculture, instead converting atmospheric carbon directly into whey proteins, while saving time, energy, and land associated with current practices in the process.
About Ginkgo Bioworks Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo’s biosecurity and public health unit, Concentric by Ginkgo, is building global infrastructure for biosecurity to empower governments, communities, and public health leaders to prevent, detect and respond to a wide variety of biological threats. For more information, visitginkgobioworks.com andconcentricbyginkgo.com, read ourblog, or follow us on social media channels such as X (formerly known as Twitter) (@Ginkgo and @ConcentricByGBW), Instagram (@GinkgoBioworks and @ConcentricByGinkgo), Threads (@GinkgoBioworks) orLinkedIn.
Funding for FGen AG is provided by the Swiss State Secretariat for Education, Research and Innovation (SBFI Nr. 23.00349).
Forward-Looking Statements of Ginkgo Bioworks This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the capabilities and potential success of the partnership and Ginkgo’s cell programming platform. These forward-looking statements generally are identified by the words “believe,” “can,” “project,” “potential,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) volatility in the price of Ginkgo’s securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance across competitors, and changes in laws and regulations affecting Ginkgo’s business, (ii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, (iii) the risk of downturns in demand for products using synthetic biology, (iv) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (v) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vi) our ability to realize the expected benefits of merger and acquisition transactions, (vii) the outcome of any legal proceedings against Ginkgo, including as a result of recent acquisitions, (viii) our ability to realize the expected benefits from and the success of our Foundry platform programs, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, and (x) the product development or commercialization success of our customers. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Ginkgo’s quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 8, 2023 and other documents filed by Ginkgo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ginkgo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ginkgo does not give any assurance that it will achieve its expectations.
HOUSTON, Dec. 18, 2023 — Genesis Park, through its investment fund, GP Capital Partners, LP, is pleased to announce its recent investment in Conditioned Air Company (“Conditioned Air” or the “Company”) to support Conditioned Air’s addition of A/C Designs of St Augustine (“A/C Designs”) to its platform. The companies’ combined operations cover some of the fastest growing areas of Florida, with the combined enterprise representing one of the largest organizations focused on residential HVAC service in Florida. Genesis Park provided a debt and equity investment alongside Gemini Investors and Cambridge Savings Bank, company management, and other investors to support the transaction.
A/C Designs, based in Jacksonville, FL and founded in 2002, is one of the leading residential HVAC service and new construction service providers in Northeast Florida. A/C Designs and Conditioned Air have similar business strategies and aligned values. Leveraging the strengths and market presence of both organizations positions the combined entity to provide enhanced residential home services in Florida and to continue the positive growth trajectory.
Gina Luna, Managing Partner of Genesis Park said, “The combination of Conditioned Air and A/C Designs creates one of the largest residential HVAC service businesses in Florida. Through the delivery of exceptional service to their customers, both companies have strong reputations and recognizable brands in their respective markets. We are thrilled to partner with an experienced management team and investor group to support the Company through the next phase of growth.”
AboutGenesis Park Genesis Park is a Houston-based private credit and equity investment firm. Its current investment fund, GP Capital Partners, LP, is licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration. Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park generally targets companies with at least $10 million of revenue and $3 million of EBITDA, with proven business models and seasoned management teams. Managed by three experienced investment professionals with broad regional relationships, Genesis Park is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success. For more information, visit www.genesis-park.com.
AboutConditioned Air Company Conditioned Air, founded in 1962 and based in Naples, FL, has grown to become the largest HVAC service provider for service, maintenance, repair, replacement and new construction installations in Southwest Florida. The Company provides regular service, repair and replacement services as well as new construction design and installation for both custom home and production home builders. For more information, visit www.conditionedair.com.
New funds to fortify US market entry and growth strategy, as well as advance breakthrough research
CAMBRIDGE, Mass., Dec. 18, 2023 — Biorithm, a global women’s health medtech, has closed $3.5 million in Series A funding, co-led by Adaptive Capital Partners and SEEDS Capital. With a homegrown spirit and a global vision, Biorithm is dedicated to developing cutting-edge solutions for personalized connected maternity care. The funding will fuel Biorithm’s expansion in Southeast Asia and the United States. It also will assist the company in advancing Femom, a comprehensive obstetric remote monitoring solution, and completing clinical studies to support a 510(K) premarket submission to the US Food and Drug Administration.
Complications from childbirth result in mortality for 800 women every day. Biorithm is committed to ending preventable pregnancy complications by pioneering new standards of care through protocol-based remote monitoring of maternal and fetal biometrics. Biorithm’s Femom is patient-friendly technology that facilitates patient monitoring, accessible personalized guidance, and seamless integration of predictive analytics that help clinicians to identify early signs of complication.
Julian Robinson, Chairman of Biorithm Medical Advisory Board, highlighted the significance of this technology, that will offer enhanced accessibility and improved healthcare outcomes. He further emphasized, “Biorithm will enhance care, minimize inconvenience, and reduce cost for patients and improve the efficiency and effectiveness of the clinical health care provider. Above all, it will improve medical outcomes for mothers and their babies.”
With headquarters in Singapore and Massachusetts, Biorithm aims to strengthen the women’s health ecosystem globally. Amrish Nair, Founder and CEO, expressed gratitude for investor support, envisioning a future where every expectant mother has proactive and connected healthcare. The funding from new investor Adaptive Capital Partners and existing investor SEEDS Capital reaffirms their recognition of Biorithm’s pivotal role in reshaping women’s healthcare through innovative technology.
“We are truly heartened to have the support of our new and existing investors. We feel a deep commitment to improving the health of expectant mothers and putting an end to preventable complications. There is a collapse of maternal care driven by socio-economic factors and limitation of current monitoring technologies in many regions across the world, and we are hard at work to solve this problem in partnership with others. The investment we have received is a testament to our mission at Biorithm, and a future where every expectant mother has access to healthcare that is not only proactive but profoundly connected to her unique journey,” Amrish Nair, Founder and CEO, Biorithm.
Having successfully completed clinical trials with healthcare institutions in Singapore and the United Kingdom, Biorithm will be expanding its clinical trial footprint to more priority markets. Biorithm is also channeling its incoming funding into further research that demonstrates how remote care can be most effectively deployed. In its aim to strengthen the overall women’s health ecosystem, Biorithm will chart out and foster key partnerships with various stakeholders globally to improve maternal and baby health through data, personalized and accessible care.
“Building a system of connected medical care is crucial to help clinicians predict, diagnose, and formulate calculated decisions on early intervention to prevent complications and devise treatments. We are excited with our investment into Biorithm as the company is focused on creating measurable and actionable value in maternal health, integrating this system across all touchpoints to ensure safety throughout the pregnancy journey,” said Shi Ying, Founder & Managing Partner, Adaptive Capital Partners
Tan Kaixin, General Manager, SEEDS Capital added, “By leveraging technology to enable remote monitoring, Biorithm’s offering provides enhanced access to quality care for expectant mothers. We are excited to continue backing Biorithm as they accelerate their commercialization in the US and support their vision of revolutionizing the global maternal health market. Investments in MedTech startups like Biorithm will propel the healthcare ecosystem to new heights.”
About Biorithm
Biorithm envisions a world with better access to maternal care and improved outcomes for mother and child. To achieve this, Biorithm has developed a remote maternal-fetal care platform with novel intellectual property in device and algorithms. Having grown from academia, Biorithm is now present globally, working with clinical partners to deliver better care for mothers and babies. For more information, visit https://www.bio-rithm.com
About SEEDS Capital
As the investment arm of Enterprise Singapore, SEEDS Capital catalyses smart investments into innovative Singapore-based early-stage startups with strong intellectual content and global market potential. We adopt a co-investment model, working hand in hand with institutional investors from around the world. Leveraging our collective expertise and networks, we help startups commercialise, realise their business development plans, and expand globally. We focus our investments into emerging and strategic sectors aligned with national priorities, including Manufacturing, Trade & Connectivity, Human Health & Potential, Urban Solutions & Sustainability, and Smart Nation & Digital Economy.
About Adaptive Capital Partners
Adaptive Capital Partners is a Singapore based, early-stage technology focused venture capital firm. Adaptive invests in high conviction and disruptive technology startups with a predominant focus in HealthTech and MedTech while working with founders in many of their defining challenges with the team’s deep experience as an operator and research background.
DELRAN, N.J., Dec. 18, 2023 — Pickleball Kingdom, the leading brand for indoor pickleball, is taking on a new role… that of matchmaker. As part of the company’s aggressive national expansion plan, it has identified New Jersey as a key growth area. The company previously announced it plans to open 20 Pickleball Kingdom locations in Central New Jersey over the next few years. It is now on a star search to find ambitious people who want to participate in that growth.
Ace Rodrigues and Sam Sood
Pickleball Kingdom
Pickleball Kingdom CEO, Ace Rodrigues, commented, “There’s a tsunami of opportunity coming our way. The hunger for pickleball is ravenous and we are scaling to meet that demand. We are only limited by speed at which we can identify key partners to expand with.”
Recently, local businessman, Sam Sood, was introduced as the company’s Master Franchisee in Central New Jersey. Sood has identified numerous prime locations that meet the company’s proprietary demographic and psychographic formula. He explains, “Building a Pickleball Kingdom involves specifics elements being in place to enhance its success. With Central New Jersey and Bucks County, PA, as a backdrop, there are many locations that get us very excited about the future. I’m actively seeking interested parties so we can connect them to these excellent locations.”
Pickleball, the fastest growing sport in America, has taken New Jersey by storm. Its widespread popularity has created a significant demand for high-quality indoor facilities that cater to players of all skill levels. Pickleball Kingdom, with its wealth of experience in the industry, is now inviting entrepreneurs and pickleball enthusiasts to partner with in developing new indoor pickleball clubs.
Rob Streett, COO of Pickleball Kingdom, added, “For the right person, this opportunity could be life changing. We’re looking for ‘early adaptors’ who see the value in being first to market. Franchising experience is a plus, but not necessary. If someone has the right attitude, our training will provide all the support they will need.”
Why Pickleball Kingdom?
Prime Locations: Pickleball Kingdom has conducted extensive research to identify prime locations throughout New Jersey and Bucks County, PA. for these new clubs.
Established Brand: As a recognized leader in the pickleball community, Pickleball Kingdom brings a strong and reputable brand to the table.
Comprehensive Support: Franchisees will benefit from a comprehensive support system provided by Pickleball Kingdom.
Thriving Industry: The pickleball industry is booming and is packed with immense potential for growth.
Community Engagement: Pickleball is not just a sport; it’s a community. As a franchisee of Pickleball Kingdom, you’ll have the opportunity to connect with local enthusiasts and contribute to the growth of this exciting sport.
Pickleball Kingdom is actively seeking individuals who have the entrepreneurial spirit to make a difference in their local communities. Whether someone is an experienced business owner or a pickleball enthusiast looking to turn their passion into a career, Pickleball Kingdom invites you to start a conversation with them.
Pickleball Kingdom is the leading name in the world of pickleball, dedicated to promoting and growing the sport through the development of high-quality indoor facilities. With a commitment to excellence, Pickleball Kingdom provides players of all skill levels with an exceptional pickleball experience.
NEW YORK, Dec. 17, 2023 — Turnspire Capital Partners LLC (“Turnspire”) today announced the closing of Turnspire Value Fund II, L.P. (together with its parallel funds, “Fund II”) at its hard cap of $275 million in capital commitments.
Since its inception in 2013, Turnspire has invested over $180 million in control investments across nine platform companies. In Fund II, Turnspire will continue targeting complex transactions involving North American lower middle-market industrial and consumer businesses with revenues between $50 million and $400 million.
Turnspire welcomes to Fund II a diverse group of high-caliber institutional investors across North America and Europe, including corporate and public pension funds, endowments and foundations, asset managers, funds of funds, and family offices as well as high-net-worth individuals. Fund II also includes significant participation from the general partner and members of Turnspire’s executive operator network.
“We are grateful to our existing and new limited partners for their trust in Turnspire,” said Founder and Managing Partner Ilya Koffman. “In Fund II, we plan to continue employing the proven investment strategy that Turnspire has executed for over a decade – by exclusively targeting high-quality businesses, buying right, and creating significant value through operational transformations. We look forward to further demonstrating Turnspire’s reputation as the buyer of choice for complex lower-middle-market transactions.”
Turnspire Partner Abel S. Osorio added “We believe that the significant investment community demand for Fund II reflects Turnspire’s differentiated investment strategy, the quality of our team, the high-caliber executives we partner with to drive operational improvements, and the strength of our investment track record. We take immense pride in the lasting franchise we have built and look forward to continuing to earn our investors’ trust.”
Chapman and Cutler LLP acted as legal counsel to Fund II and InRider Partners LLC provided investor relations services.
About Turnspire Capital Partners Turnspire Capital Partners invests in high-quality businesses that have reached strategic, financial, or operational inflection points and stand to benefit from our hands-on, operationally focused approach. Turnspire’s investment philosophy is predicated on creating value through operational improvements rather than through financial leverage. Turnspire strives to make each of its portfolio companies best-in-class in their respective industry niche and then to grow the businesses through organic initiatives or strategic acquisitions. For additional information, please visit www.turnspirecap.com.
CONTACT: Mark Semer Gasthalter & Co. (212) 257-4170 [email protected]
Fairshake and its affiliates plan to support pro-crypto candidates in both the US House and US Senate on both sides of the aisle.
WASHINGTON, Dec. 18, 2023 — Fairshake, a federal super PAC registered with the Federal Election Commission (“FEC”), and its network of affiliated super PACs today announced their first wave of fundraising efforts. They will report $78 million raised and in the bank in Q4 2023 to support leaders who support American crypto and blockchain innovation and responsible regulation in the forthcoming 2024 elections.
Embracing the transformative potential of the American crypto community, Fairshake is dedicated to advancing leaders who are poised to champion innovation and navigate the complexities of responsible regulation in the digital age.
Fairshake has support from:
Andreessen Horowitz
Ark
Brian Armstrong
Blockchain Capital
Wences Casares
Circle
Coinbase
Ron Conway
Cumberland
Framework Ventures
Hunter Horsley
Jump Crypto
Kraken
Lightspark
Messari
Multicoin Capital
Paradigm
Potter Ventures
Ripple
Fred Wilson
Cameron Winklevoss
Tyler Winklevoss
Fairshake and its affiliates remain steadfast in their mission to support leaders who champion the interests of progressive innovation, including blockchain technology and the crypto industry, through independent advertising efforts. In order for the blockchain economy to realize its full potential, a clear regulatory and legal framework for success is needed. The crypto community continues to advance initiatives to promote stability, tech innovation, and growth of the blockchain economy in the U.S., positioning it as a hub for blockchain technology development and adoption.
Fairshake is a federal independent expenditure-only committee (super PAC) registered with the FEC and supports candidates solely through its independent activities. Protect Progress and Defend American Jobs are also federal super PACs registered with the FEC and are affiliated with Fairshake.
TAIPEI, Dec. 16, 2023 — Caliway Biopharmaceuticals (Caliway) announced that it has closed an oversubscribed capital raise, securing over $100M by issuing 8 million new shares.
The new funding will enable Caliway to advance the clinical development of its lead pipeline CBL-514, a small-molecule injectable drug that reduces subcutaneous fat in treatment areas. The use of proceeds includes multi-country, multi-center Pivotal Phase 3 studies for non-surgical subcutaneous fat reduction, and a CBL-514’s Phase 2b study (CBL-0202DD) for treating Dercum’s disease compared with placebo.
“We are thrilled to see that CBL-0202 Phase 2 study results demonstrated that CBL-514 exerts promising efficacy on subcutaneous fat reduction, reducing more than 300 mL of subcutaneous fat on average over the treated area compared with the placebo. 85.7% and 76.2% of participants lost at least 150mL and 200mL of subcutaneous fat in the treated area after receiving CBL-514 treatment(s).
Moreover, the CBL-0201DD Phase 2 study results showed that CBL-514 has a solid potential to become the first-in-class medicine to treat Dercum’s disease. We found that 64.5% of painful lipomas show dimension reduction of more than 50% after CBL-514 treatment.” said Vivian Ling, CEO of Caliway. “With the new funding, we look forward to pushing CBL-514 into its next clinical developmental milestones to fulfill the unmet medical needs for subcutaneous fat reduction and Dercum’s disease.”
The application of the CBL-514 Pivotal Phase 3 study (CBL-0301) for subcutaneous fat reduction has been submitted to Australian Bellberry HREC. Caliway will submit the Pivotal Phase 3 study IND to the U.S. FDA, EMA, and other countries’ regulatory authorities following up.
In addition, the IND application of CBL-514 Phase 2b study for Dercum’s disease was submitted to the U.S. FDA in December, 2023. The study will evaluate CBL-514’s efficacy, safety, and tolerance in treating Dercum’s disease compared with placebo.
About CBL-514
CBL-514, a potentially first-in-class small-molecule drug, is an injection lipolysis drug that can induce adipocyte apoptosis and lipolysis to reduce subcutaneous adiposity in treatment areas in animal studies without causing any systematic side effects on the central nervous system, cardiovascular system, and respiratory system. Caliway’s nonclinical studies showed that CBL-514 upregulates the apoptosis mediators caspase 3 and Bax/Bcl-2 ratio, and then induces dose-dependent adipocyte apoptosis in vivo and in vitro.
Caliway is investigating multiple indications for CBL-514, including non-invasive subcutaneous fat reduction, Dercum’s disease, cellulite, and lipoma treatment.
About Caliway Biopharmaceuticals
Caliway Biopharmaceuticals (Caliway) is a Taiwan-headquartered, clinical-stage biopharmaceutical company driven to breakthrough drug discovery of novel small-molecule therapeutics. Listed on the emerging stock market in Taiwan (TPEX6919), Caliway aims to become an innovative pharmaceutical leader in aesthetic medicine and inflammatory disease. For more information, please visit: www.Caliway.com.tw/en
Disclaimer
This article and related information on this site contain forward-looking statements. The forward-looking information requires the Company to make numerous assumptions and is subject to inherent risks, uncertainties, and other factors that are beyond the control of the Company which may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The Company undertakes no obligation to timely inform, update, or revise the information on this site if circumstances should change.
