PHILADELPHIA, Oct. 26, 2023 — Virion Therapeutics, LLC, a clinical-stage biotechnology company developing novel T cell-based immunotherapies, and its Joint Venture partner, Ocean Biomedical, Inc. (NASDAQ: OCEA), today announced that the first patients have been dosed in the Phase 1b clinical trial of its investigational VRON-0200 immunotherapy, which is being evaluated as a functional cure for patients with chronic Hepatitis B virus (HBV) infection.  VRON-0200, a first-in-class treatment, using one of Virion’s proprietary checkpoint modifiers, was specifically designed to enhance and broaden a patient’s own immune response. This novel mechanism of action may help overcome one of the key problems faced in treating chronic HBV – immune exhaustion. The international, first-in-human VRON-0200 Phase 1b study is currently enrolling patients in Hong Kong and New Zealand, with additional sites planned in the United States. Initial clinical data from this study are expected in early 2024.

“The initiation and dosing of patients in this VRON-0200 study is a critical first step in evaluating its impact on chronically HBV-infected patient’s immune responses to the virus, with the ultimate goal of finding a cure for this insidious disease. The mechanism by which VRON-0200 works is a totally new approach to anything previously investigated or currently in development by others – we are looking forward to evaluating the first clinical data from this program, early next year,” said Dr. Sue Currie, COO of Virion. 

About Chronic Hepatitis B

Despite a preventative vaccine, cases of chronic hepatitis B (HBV) continue to rise, with an estimated 296 million persons infected worldwide and 820,000 deaths per year from HBV-related liver complications. This includes almost 100 million persons in China who are affected by this disease. Chronic HBV remains a global health issue with a high unmet medical need as there is no cure available.  The current standard of care requires lifelong antiviral therapy to keep the virus in check.

Grace Wong, MD, Professor of Medicine at the Chinese University at Hong Kong (CUHK), and a principal investigator in the VRON-0200 study, commented, “Novel treatments that can control or potentially cure chronic HBV infection, that are easy to administer, and are well tolerated, alone, or in combination with other treatments, are in high need.”  Wong added, “VRON-0200, with its potential to expand a patient’s own immune response to control the infection, coupled with how it is given – as a single (prime), or double (prime and boost) injection into the arm muscle, has the potential to be an innovative therapy to address this high global unmet medical need for patients with chronic HBV.”

“The dosing of these first patients, in our lead VRON-0200 chronic HBV Phase 1b study, represents a major milestone in Virion’s mission of bringing innovative immunotherapies to patients with cancer and chronic infectious diseases,” said Virion’s CEO, Dr. Andrew Luber. “Targeting T cell activation, via checkpoint modification, is unique to Virion. This first study, using our first checkpoint modifier, gD, not only benefits patients with chronic hepatitis B, but also, provides useful information for our proprietary platform technologies and pipeline, including VRON-0300, which is in development for patients with advanced solid tumors,” Luber added. 

Ocean Biomedical co-founder and Executive Chairman Dr. Chirinjeev Kathuria, commented: “This is another major clinical and business value inflection point for our company. Treatments for chronic HBV are in high demand and could capture an estimated global market of $6.5+ billion by 2032. Companies at a similar stage as our JV’s VRON-0200 study, have seen large steps up in value. For example, VIR Biotechnology’s value increased by over $3.6 billion dollars after they reported their initial 8 patient Phase 1 data. Ocean is pleased to partner with Virion in bringing this high-need, high-value treatment – aiming for a functional cure – to patients with chronic HBV around the world.”

About VRON-0200

VRON-0200 is a therapeutic immunotherapy, administered by intramuscular injection, designed with the goal of providing a functional cure for chronic HBV infection. While the virus itself stimulates HBV-specific CD8⁺ T cells, for those patients that can’t clear the initial infection, their T cells soon become exhausted, placing limits on their ability to proliferate and control the virus. Preclinical data support the hypothesis that VRON-0200, through checkpoint modification, can amplify, broaden, and enhance T cell responses to include T cells that are not normally activated during a chronic HBV infection, which results in improved viral control. 

About Virion Therapeutics (Virion)

Virion Therapeutics, LLC is a clinical-stage company developing novel T cell-based immunotherapies to cure cancer and chronic infectious diseases that utilize proprietary genetically encoded checkpoint modifiers (CPMs) to enhance and broaden CD8⁺ T cell responses to a tumor or chronic infection.  Founded in early 2018, Virion has since developed a robust pipeline, including its lead VRON-0200 clinical program, and several additional IND-enabling programs, including VRON-0300 oncology program for advanced solid tumors, leveraging its proprietary platform technologies. In early Fall 2023, Virion and Ocean Biomedical entered into a joint venture to accelerate and expand Virion’s pipeline of novel immunotherapies. 

To learn more, visit www.VirionTx.com

About Ocean Biomedical

Ocean Biomedical, Inc. is a Providence, Rhode Island-based biopharma company with an innovative business model that accelerates the development and commercialization of scientifically compelling assets from research universities and medical centers. Ocean Biomedical deploys the funding and expertise to move new therapeutic candidates efficiently from the laboratory to the clinic to the world. Ocean Biomedical is currently developing five promising discoveries that have the potential to achieve life-changing outcomes in lung cancer, brain cancer, pulmonary fibrosis, and the prevention and treatment of malaria. The Ocean Biomedical team is working on solving some of the world’s toughest problems, for the people who need it most.

To learn more, visit www.oceanbiomedical.com.

Forward-Looking Statements

The information included herein and in any oral statements made on behalf of Ocean Biomedical, Inc. (the “Company”) or otherwise in connection herewith include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics and expectations; the expected timing and success of IND filings for our initial product candidates; statements regarding the expected timing of our IND-enabling studies; the frequency and timing of filing additional INDs; expectations regarding the availability and addition of future assets to our pipeline; the advantages of any of our pipeline assets and platforms; the potential benefits of our product candidates; potential commercial opportunities; the timing of key milestones for our programs; the future financial condition, results of operations, business strategy and plans, and objectives of management for future strategy and operations; and statements about industry trends and other companies in the industry. These forward-looking statements are based on various assumptions, whether or not identified herein, and on the current expectations of the Company’s management, and they are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions.

Any discoveries announced by the Company are based solely on laboratory and animal studies. The Company has not conducted any studies that show similar efficacy or safety in humans. There can be no assurances that any treatment tested by the Company will prove safe or effective in humans, and that any clinical benefits of any such treatment is subject to clinical trials and ultimate approval of its use in patients by the FDA. Such approval, if granted, could be years away.

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. These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside the control of the Company that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. You should carefully consider the foregoing factors and the other risks and uncertainties that are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and in the Company’s subsequent Quarterly Reports on Form 10-Q and other documents filed by the Company from time to time with the SEC and which are and are available at www.sec.gov. 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. We do not undertake any obligation to update any forward-looking statements made by us. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this filing. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts:
Virion Therapeutics, LLC 
Dr. Sue Currie 
Chief Operating Officer
[email protected] 

Ocean Biomedical Investor Relations
[email protected]
Kevin Kertscher
Communications Director

SOURCE Virion Therapeutics, LLC

Capital (Subject to Due Diligence), Provided by German Investor Christopher Obereder to 3 Finalists; Startup to Watch Winner is Brainspark Games

VIENNA, Oct. 25, 2023 — Augmented World Expo (AWE), the leading series of worldwide events focused exclusively on the business of augmented reality (AR), virtual reality (VR) all known collectively as XR, today announced the finalists for the $200,000 XR Startup Pitch Contest for AWE Europe, plus the winner of the 2023 Auggie Award for EU Startup to Watch.

Capital for the winners of the XR Startup Pitch Contest was provided by acclaimed investor Christopher Obereder of Start-up-Chris Ventures out of Germany and California <https://www.start-up-chris.com/>.

The winning entries displayed the best criteria for market success, judged according to a complex series of metrics by an A-list team of judges from the VC and XR industries. The capital may be split or awarded solely to one or more of the finalists, pending final due diligence at the sole discretion of Start-up-Chris Ventures.

The winners selected are:

1. Brainspark Games – CEO: REEDAH EL-SAIE
2. Virtual Beings – CEO: WENDELIN REICH
3. ForwARd Games – CEO: TIM FRIEDLAND

The winner of the Auggie Award for EU Startup to Watch in 2023 is Brainspark Games.

“AWE is extremely proud to have partnered with Christopher Obereder in this first-of-its-kind pitch competition to find and fund the most promising new XR startups in Europe,” said AWE co-founder Ori Inbar. “150 different startups submitted to be judged as part of the competition, demonstrating the strong community of XR startups throughout the European ecosystem. AWE is honored to have played a leading role in facilitating the growth of XR outside of Silicon Valley and to play the role of advocate for the industry worldwide.”

AWE (Augmented World Expo) is the world’s leading AR+VR conference and expo with events in the USA, Asia, the Middle East, and Europe. AWE events consistently bring together a mix of CEOs, CTOs, designers, developers, creative agencies, futurists, analysts, investors and top press in a unique opportunity to learn, inspire, partner and experience firsthand one of the most exciting industries of our times.

All trademarks and registered trademarks previously cited are hereby recognized and acknowledged. For more information, please contact AWE PR Counsel Jonathan Hirshon at [email protected]

SOURCE AWE

RESEARCH TRIANGLE PARK, N.C., Oct. 25, 2023 — Dental Innovation Alliance (DIA), a leading dental and healthcare investment firm, is delighted to announce its fourth strategic investment. The current investment is into Cloud Dentistry, a workforce management platform focused on the dental industry and poised to transform how practices manage their labor while unlocking new opportunities for dental professionals. This partnership marks a significant milestone in both companies’ efforts to transform the dental industry through innovative technology solutions.

Cloud Dentistry has consistently demonstrated its commitment to simplifying the way dental professionals and support staff connect with practices. By leveraging a user-friendly platform and advanced algorithms, Cloud Dentistry has redefined the dental staffing experience, ensuring seamless matches between skilled professionals and dental practices. The unique platform unlocks fractional labor, expands and enhances workplace productivity, and boosts engagement among staff.

DIA is a first-of-its-kind venture firm at the forefront of fostering advancements in dental care and practice management. By leading Cloud Dentistry’s Series B, DIA believes that Cloud Dentistry will transform the dental workforce landscape and become the new standard for workforce management used by dental practices. By providing resources and support, DIA aims to bolster Cloud Dentistry’s expansion efforts and enhance the platform’s capabilities, ultimately benefiting dental professionals and practices across the country.

“We couldn’t be more excited to partner with Cloud Dentistry,” said Doug Brown, Managing Partner of DIA. “Their innovative approach to the dental workforce aligns perfectly with our vision for the future of dentistry and is a true win-win for both professionals and practices. This investment reflects our confidence in their team and their ability to continue transforming the industry.”

“Cloud Dentistry is honored to receive DIA’s fourth investment. For years, we’ve been searching for the right VC partner, and we can’t think of a better partner than DIA. With their industry expertise, connections, and access to capital, it’s a dream come true. With DIA’s support, we look forward to further improving the dental staffing process and empowering dental professionals and practices alike,” shares Trey Tepichin, Cloud Dentistry’s Co-Founder and CEO.

About Dental Innovation Alliance
www.dialliance.com
Dental Innovation Alliance (DIA) is a close group of dental industry executives that funds, advises and propels the success of early-stage companies building the future of dentistry through technology. Its investor base includes executives and experts from some of the largest and most innovative dental support organizations and other dental businesses. DIA has offices in New York, Nashville, and Research Triangle Park, NC.

SOURCE Dental Innovation Alliance (DIA)

Cris Neckar Joins as Venture Partner Focused on Information Security, Machine Learning and AI  

KC Cramer Assumes Role as Vice President of Human Resources During Rapid Growth Phase

MENLO PARK, Calif., Oct. 25, 2023 — Two Bear Capital, the venture capital firm investing in disruptors in biotechnology, bioinformatics, healthcare IT, machine learning and AI, and information security, today announced the appointment of two key executives, both of which are a part of the venture capital firm’s expansion of its Silicon Valley office and operation nationwide.

Cris Neckar, a seasoned veteran of the information security industry, joined Two Bear Capital as a Venture Partner and is focused on opportunities related to information security and machine learning and AI. His work includes both vetting new investments and supporting companies within the portfolio. KC Cramer has assumed the role of Vice President of Human Resources. KC is responsible for ensuring that Two Bear Capital has the human resources and expertise in place to scale alongside the opportunities the firm is facilitating in the marketplace through its investments in innovative startups.

“I am so pleased to announce these new executive appointments at Two Bear Capital,” said Two Bear General Partner J. Seth Strattan, PhD. “Cris Neckar brings a wealth of expertise in cybersecurity and technology to our investment team. His perspective adds power to our investment thesis in technologies that are changing whole industries today. KC Cramer is leading the critical growth of our team and sharing her valuable expertise with our expanding portfolio. I look forward to seeing all that Cris, KC and Two Bear Capital will accomplish together.”

Cris Neckar has over 17 years of experience in software engineering, penetration testing and digital forensics. Cris has held leadership roles at a variety of start-ups including co-founding Divergent Security, a top-tier offensive security assessment service provider. Cris was one of the original members of Google’s Chrome Security Team, managing the security of the Chrome web browser and developing state-of-the-art advancements in software security and end-user defense. Cris led the Application Security practice for Neohapsis. Cris discovered, and responsibly disclosed, critical vulnerabilities in software infrastructure ranging from Microsoft Windows to Cisco Webex, and has been instrumental in the investigations of both high-profile data breaches and nation-state intelligence campaigns.

KC Cramer has over 25 years of experience partnering with executives to build strategic teams in fast-paced and quickly growing organizations. KC is skilled in building scalable processes to support company goals while cultivating an outstanding culture and employee experience. Most recently, KC served as the Vice President of People at Flare, a software platform company for attorneys. Prior to this role, she was the Vice President of People at Puls, which was named as Forbes’ America’s Best Startup Employers 2020, Globes’ Most Promising Start-Up 2018 and LinkedIn’s Top Startups 2018. During her career, she also held positions at Sightglass, Humble Bundle, SysIQ, Metabiota and GT Nexus.

About Two Bear Capital
Founded in 2019 by Mike Goguen, Two Bear Capital is a venture capital firm that invests in brilliant entrepreneurs who have breakthrough ideas. With its unique approach to venture capital, Two Bear Capital’s vision is to build an ecosystem of support, economic opportunity and innovation that brings the most meaningful ideas to market in the form of enduring high-impact businesses that benefit society as a whole, while delivering for investors. The firm primarily focuses on early founder-led companies with disruptive innovations in biotechnology, bioinformatics, healthcare IT, machine learning and AI, and information security.  Two Bear Capital has offices in Menlo Park, San Diego, Boston and New York, with its home base in Whitefish, Montana. For more information visit: www.twobearcapital.com

Photo Link: https://www.dropbox.com/scl/fo/vudx81zvl1ddta5fmx04s/h?rlkey=5m0htvab73cgbybdljhvlp3yi&dl=0

Photo Caption & Credits:  
Cris Neckar, Venture Partner, Two Bear Capital. Courtesy of Two Bear Capital.
KC Cramer, Vice President of Human Resources, Two Bear Capital. Courtesy of Two Bear Capital.

Contact:
Susan Ainsworth
[email protected]
[email protected]

SOURCE Two Bear Capital

• Healthcare experiences are often complex and impersonal, frustrating consumers and ultimately impacting long term health outcomes
• Personalization can give consumers the information they need with relevant, appropriate actions that have a positive impact on clinical engagement
• Personalized AI-based consumer experiences are all around us; however it’s complex and expensive to safely bring these experiences to healthcare today
• RadiantGraph accelerates the ability to activate AI strategies and bring new ideas, experiments, and clinical interventions to consumers

SAN FRANCISCO, Oct. 25, 2023 — RadiantGraph, a platform using machine learning and artificial intelligence to drive consumer engagement for health plans, today announced its launch today after raising $5 million in Seed funding in a round led by True Ventures and XYZ Ventures, with participation from Remus Capital. This investment in RadiantGraph will be used to accelerate growth, which includes partnering with new healthcare organizations, and advancing their enterprise health and health plan product offerings.

Healthcare costs continue to rise, with a projected increase of 7% in 2024, but consumer engagement with healthcare is still low. Engagement is critical because it leads to better health outcomes and a better overall experience for consumers. One example where engagement is necessary is the management of chronic conditions, one of the largest drivers of healthcare cost and something that requires patient activation and collaboration to be successful. Missed opportunities like these leave health plans and healthcare companies scrambling to engage members and promote healthy behaviors.

RadiantGraph uses machine learning (ML) and artificial intelligence (AI) to translate data, including medical claims, medication history, and biometric data, to create tailored consumer healthcare experiences that reach consumers where they are. This results in more effective communication, higher patient satisfaction, and improved healthcare outcomes.

“We are firm believers in what the RadiantGraph team is building. Growth scale healthcare companies, as well as health plans, benefit from better population targeting that leverages data and AI,” said Yusuf Sherwani, Co-Founder and CEO of Pelago. “RadiantGraph is generating direct cost savings and ROI for Pelago; and they’re helping us bring new clinical growth and interventions to our members faster.”

Health plans, Providers, and Enterprise Health companies often lack the resources and expertise needed to deploy proprietary ML and AI models to reach their consumers effectively. Data science teams can spend 50-80% of their time ingesting, detangling, enriching, and managing incomplete healthcare data. RadiantGraph’s platform approach begins generating usable insights in weeks versus the years it would take a company to build a platform from the ground up. This can save companies millions in capital investment and critically accelerate timelines to deploy models and deliver outcomes. This type of personalized communication can reduce acquisition costs by up to 50% and increase revenue 5-15%.

“There are many platform approaches that aim to improve health outcomes but miss the mark when it comes to engaging directly with patients,” said Adam D’Augelli, partner at True Ventures. “RadiantGraph’s approach prompts companies to digest often overlooked data to empower patients. There’s a big opportunity to uplevel a patient’s role in their own care management, and that will result in not only better health outcomes but greater cost effectiveness in our healthcare system at large.”

The RadiantGraph team are pioneers in the field, with decades of experience in applying data science, AI, and ML to healthcare challenges. This arms them with an understanding of the difficulties that building a system from the ground up can bring. RadiantGraph allows customers to accelerate their offerings, while reducing risk and cost compared to building out and employing their own data science team.

“RadiantGraph addresses a problem I’ve worked to solve time and time again – companies building AI systems from the ground up in an effort to transform data into better consumer experiences. It’s simply inefficient,” said Anmol Madan, founder and CEO of RadiantGraph. “RadiantGraph can drive direct impact on outcomes and help healthcare companies apply AI to drive personalized experiences and keep up with the rapid evolution of AI technology underway. This removes the friction that healthcare companies experience when trying to engage with consumers; and outpaces in-house and third-party options.”

RadiantGraph helps healthcare companies effectively deploy AI models in order to attract and engage consumers, meet clinical needs, and drive personalized care. These models are integrating RadiantGraph seamlessly into their product and marketing, with the ability to discover new patterns to drive conversions. Growth-stage clients see positive results after only several months of using RadiantGraph, including a savings in direct technical development expense.

About RadiantGraph
RadiantGraph is on a mission to make healthcare more accessible and easier for all of us as consumers. Our AI platform helps leading healthcare organizations build deeper and richer connections with their consumers, driving personalized engagement and clinical outcomes. Healthcare companies that leverage RadiantGraph are able to reduce data engineering spend while bringing in new ideas, experiments, and clinical interventions to consumers much faster.

About True Ventures
Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early stage technology startups. With more than $3.8 billion under management, True provides seed and Series A financing to entrepreneurs in some of today’s fastest growing markets. The True team believes creativity flourishes when founders are supported fully and empowered to pursue brave ideas. To that end, the True Platform offers programs that inspire professional and personal growth. To date, True has helped more than 350 companies launch and scale their businesses, creating over 85,000 jobs worldwide. To learn more, visit www.trueventures.com.

About XYZ Venture Capital
XYZ Venture Capital was founded in 2017 by Ross Fubini, focusing on early-stage enterprise, fintech, public sector, health, and climate technology. XYZ looks to back founders during formation who have uncovered a unique insight in their field and show immense velocity in execution. XYZ commits itself to working alongside founders as a thought partner to help unlock critical milestones like what to build and with whom, ascertain their initial customers and why, and connect them with the best people to raise subsequent funding to go faster.

SOURCE RadiantGraph, Inc

LOS ANGELES, Oct. 25, 2023 — LegalMation, Inc., the market leader in Generative AI-driven solutions for high-volume litigation, today announced it has raised a $15 million Series A financing round led by the venture capital team at Aquiline Capital Partners LP, Aquiline Technology Growth (“Aquiline”), with continued participation from existing investors Motley Fool Ventures, REV Venture Partners, Key Venture Partners, Quick Set LLC, and Brentwood Investments.

LegalMation has experienced rapid growth in demand for its Generative AI litigation response platform that provides the insurance and legal industries with clear productivity and cost savings. LegalMation’s proprietary solutions enable legal professionals to respond to lawsuits, discovery requests, and related workflows using the client’s own historical response data. In 2023, LegalMation’s customers have already leveraged the platform to answer over 1.1 million discovery requests in over 30 state and federal jurisdictions.

Demand for LegalMation’s solutions has been boosted by labor shortages and inflationary pressures. For in-house counsel in particular, automating high-volume litigation and related tasks has become the number one solution to these challenges. Accordingly, insurance carriers and large enterprises have become LegalMation’s predominant client base as they seek to increase efficiency and find ways to scale at the organizational level as they find ways to apply Generative AI solutions to their operations. 

Valued at over $200 billion, the LegalTech and InsurTech markets are increasingly expected to rely on AI and automation solutions in the coming years. LegalMation is well positioned to benefit as the litigation and insurance industries continue to transform. LegalMation has become the trusted partner to the nation’s top insurance carriers, large enterprises such as Walmart, and numerous law firms such as Sheppard Mullin, Ogletree Deakins, Fisher Phillips, Nelson Mullins, Baker Donelson, and Jackson Lewis.

With this new funding, LegalMation will deepen the functionality and breadth of its platform to support the growth of its rapidly evolving customer base. Additionally, the new funds will enable LegalMation to devote significant resources to build new end-to-end litigation workflow automation and analytic tools, all focused on the goal of resolving disputes faster, while improving accuracy, cost, and outcomes for its customers.

“We are thrilled to partner with Aquiline given their experience and ability to identify disruptive technology platforms across the insurance and legal ecosystems combined with an extensive network across both markets. We already had strong customer relationships with a few of Aquiline’s strategic carrier investors and we look forward to expanding LegalMation’s reach within these markets” said James M. Lee, LegalMation’s Co-Founder and Chief Executive Officer. “The need for AI automation tools to achieve financial goals has never been greater, especially with the macro-economic pressures falling on both large and small enterprises. This investment will allow LegalMation to accelerate its growth and realize our vision of becoming the most impactful technology partner to the insurance and legal industries.”

“The AI revolution has the potential to drive exponential productivity gains while allowing greater scalability. The legal and insurance industries are just beginning to adopt transformative technology solutions, having realized the potential to empower their highly skilled talent core” said Aquiline’s Dante La Ruffa, Principal. “Aquiline has a track record in scaling SaaS companies and has made multiple investments in the LegalTech industry across our family of funds. We are thrilled to partner with LegalMation and believe they are uniquely positioned to supercharge the litigation support process as we know it today.”

About LegalMation
LegalMation is a SaaS technology company led by a group of experienced litigators and technology specialists, dedicated to revolutionizing the practice of law through artificial intelligence aimed at legal departments of large corporates, insurance carriers, and law firms. LegalMation’s ground-breaking generative AI platform dynamically produces fully formatted responsive pleadings, discovery requests and responses and other documents. The platform tailors the claims, allegations, and requests in the legal documents, incorporating jurisdictional requirements as well as the attorney’s own style, and response strategy. For more information, visit https://www.legalmation.com.

About Aquiline Technology Growth
Aquiline Technology Growth (“ATG”) seeks to invest in early and growth-stage technology companies that are bringing innovation to the insurance and financial services ecosystems. ATG is managed by Aquiline Capital Partners LP, a private investment firm based in New York and London that invests across financial services and technology. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit http://www.aquiline.com.

SOURCE LegalMation

Landmark investment positions GOZEN to amplify its influence in next-gen materials

SAN FRANCISCO, Oct. 25, 2023 — GOZEN, the revolutionary biomaterials startup that is set to disrupt the fashion, automotive and home furnishings industries, has just announced $3.3 million in a seed funding round.

The funding comes from forward-thinking investors including Happiness Capital (lead investor), Accelr8, Astor Management, and SOSV who recognized GOZEN’s unique potential to transform the world of materials through biology. This investment will enable GOZEN to accelerate research, development, and scaling efforts for its breakthrough biomaterial, LUNAFORM™, and fuel the creation of new materials.

GOZEN is on a mission to replace traditional materials in the fashion and automotive industries by producing a range of high-performing vegan and plastic-free materials. In line with the rising ESG imperative, there is growing demand for sustainable alternatives.

LUNAFORM™, the company’s flagship biomaterial, is produced by microorganisms during a fermentation process and is distinctively free from both plastic and animal components. This innovative material was unveiled earlier this month during Paris Fashion Week at the Balenciaga Summer 24 show Paris Fashion Week. The partnership with Balenciaga culminated in the Balenciaga LUNAFORM™ Maxi Bathrobe Coat and marked the inaugural use of LUNAFORM™ in the fashion industry.

Unlike composite plant-based leathers that are assembled in layers, LUNAFORM™ is a singular, fully formed material, giving it a remarkable tensile strength and natural flexibility. Available in 13-square-foot sheets with customizable thickness and texture, LUNAFORM™ sets a new standard in design adaptability. Its manufacturing method is entirely vegan, non-GMO and avoids the use of harsh synthetic chemicals.

LUNAFORM™’s formation requires a nutrient-rich environment where microorganisms craft intricate, ultra-crystalline patterns. Following the introduction of natural agents, a three dimensional-material begins to form. Unlike composite plant-based leathers that are assembled in layers, LUNAFORM™ emerges as a singular, fully formed material, giving it a remarkable tensile strength and natural flexibility.

GOZEN’s material production process takes just 10 days and bypasses the need for tanning. With the recent investment, the startup is progressing with its plans to open a new facility in Turkey, aiming for an annual production capacity of over 1 million square feet.  

“At GOZEN, we produce advanced biomaterials with the potential to unlock circular design. With this investment, we’ve shown that we have a path to delivering on that potential at scale,” says Ece Gozen, founder and CEO of GOZEN.

Po Bronson, Managing Director of SOSV’s IndieBio, was GOZEN’s first investor. “There is a lot of competition now in animal free leather. But I believed that GOZEN’s approach could surpass all others in both performance and economics, and we’ve already demonstrated this by launching our first commercial product – at Fashion Week, no less. We’ve accomplished in months what it’s taken others years to do.”

GOZEN promises to usher in a realm of fresh opportunities for consumers and businesses seeking to align their choices with environmental responsibility while still indulging in top-tier design aesthetics and quality. With the growing embrace of LUNAFORM™, there is a palpable anticipation that this trend will serve as a catalyst, encouraging other brands to adopt eco-conscious materials and practices. This ripple effect holds the potential to nurture a more sustainable and eco-friendly trajectory for the fashion industry at large as well as other industries.

About GOZEN:
GOZEN is a biocreation startup founded by Ece Gozen. GOZEN’s mission is to reshape how we interact with the world around us, advocating for natural connection and a balance between creative expression and the sanctity of our planet. GOZEN’s process combines the harnessing of naturally occurring processes with cutting-edge technology. This transforms organic elements into applied innovation – like their debut material, LUNAFORM™. GOZEN is backed by Happiness Capital, Accelr8, Astor Management and SOSV.

Media Contact:
Helen Sharp
713.385.3008
[email protected]

SOURCE GOZEN

Company will expand into additional hardware categories and aims to build the future of consumer electronics 

SAN FRANCISCO, Oct. 25, 2023 — Opal Camera Inc. is excited to announce the completion of its Series A funding round, totalling $17 million. The round was led by Founders Fund, with continued participation from Kindred Ventures and other notable investors including renowned tech creators Marques Brownlee and Casey Neistat.

“We founded Opal under a simple principle – that the products you use the most often should be the best things you own,” said Veeraj Chugh, CEO and co-founder of Opal.

The company’s first product was the Opal C1 webcam, the first professional webcam with DSLR quality. The product was borne out of an insight that modern workers were spending more time on their webcams than on their phone.

Nearly 60,000 people were on the waitlist for the C1 after its launch in December 2021, and the camera quickly became a favorite among designers and creators. In the two years since launch, the company has focused on quality, rewriting the camera firmware, and releasing a new software app, the Opal Composer.

Expansion into new hardware categories

“The honest truth is that we started Opal because we thought the market for webcams desperately needed better hardware,” said Chugh. “What we realized is that you can bring a lot of people joy by giving them usable, beautiful devices.”

With this latest round of funding, Opal is broadening its vision to include new cameras, as well as branching into other aspects of consumer electronics, a category that has seen little progress over the past decade.

“This funding allows us to grow both the short and long-term visions of Opal,” said Stefan Sohlstrom, co-founder of Opal. “We’re excited to further grow our camera business, but we’re also posing ourselves a fundamental question: what does a modern consumer electronics company look like, and what would it build?”

Opal’s expansion into new product lines is centered around the theme that new technologies shouldn’t be constrained to old form factors.

“Phones were perfect for helping us take the internet anywhere,” said Chugh. “But now we’re at the tipping point of a lot of new technologies, where our relationship with devices and information is going to change in meaningful ways.”

Opal’s next products are being built for singular, specific experiences like learning, capturing memories, and having meaningful conversations. Modern tools are built to do everything, but in the process miss the nuance and charm of specialized devices that Opal thinks are needed.

“We want Opal to build these new devices that give us an intimate way to use modern technologies,” said Sohlstrom. “Sony did something similar in the 1980’s, building new devices that changed our lives. They started with humble transistor radios, and we started with webcams.”

New investors

Joining Founders Fund in the round are Kindred Ventures, Slack Fund, and Sam Hinkie’s Eighty-Seven Capital. A coterie of influential hardware storytellers like Marques Brownlee and Casey Neistat joined the round along with the founders of Airbnb, Instagram, Shopify, Twitch and YouTube.

Trae Stephens was the partner who led the investment for Founders Fund. “Sometimes you walk into an office, and on the tables you see stuff that looks like the future,” said Stephens. “The hard part is turning it into something real. I think Opal knows how. And they’re about to show you.”

Best-in-class team

Opal has recently attracted top talent from industry giants. David Kalinowski, one of the first engineers on Apple Vision Pro, joined Opal to lead hardware. Claudio Guglieri, who recently worked as Design Director at Microsoft, joined to lead design.

Additionally, Opal, having won design awards from AIGA, Red Dot and D&AD, is furthering its design prowess by bringing in celebrated Shinagawa-born industrial designer Akifusa “Aki” Nakazawa, who previously worked in the renowned Sharp Japan design team.

The company has raised $20m to-date from investors including Will Ahmed, Carmine Arabia, Hugo Barra, Max Branzburg, Leigh Marie Braswell, Joshua Browder, Adam Bry, Jeremy Cai, Oliver Cameron, Ilter Canberk, Liam Casey, Surojit Chatterjee, Emilie Choi, Larry Chu, Soleio Cuervo, Matthew Dellavedova, Charlie & Dixie D’Amelio, Sara Dietschy, Hong Feng, Joe Gebbia, Kevin Gibbon, Ros Gold-Onwude, Manik Gupta, Drew Hanlen, Chad Hurley, Lydia Jett, Mike Krieger, Michelle Kwon, Kirk Lacob, Sahil Lavingia, Kevin Lin, Tobias Lütke, Charley Ma, Trevor McFedries, Matt Mullenweg, Zaza Pachulia, Carl Pei, Ryan Petersen, Anthony Pompliano, Gokul Rajaram, Karri Saarinen, Tim Young, Ed Zitron, 444 Capital, Acrew Capital, Automattic, Coalition Operators, Cherubic Ventures, Seven Seven Six, Shrug Capital and WSGR.

Opal Camera Inc.
For more information, visit opalcamera.com.

SOURCE Opal Camera

Company emerges from stealth with $14 million from Lightspeed Venture Partners and Menlo Ventures

SAN FRANCISCO, Oct. 25, 2023 — Today Eve officially launched the industry’s first personalized AI legal assistant fully trainable to suit the specific needs of a law practice. Powered by the latest large language models (LLMs) and pre-built legal “skills,” Eve automates away tasks such as document review, case analysis and legal research, enabling teams to focus on more strategic, high-value initiatives.

“The volume of data legal professionals are required to manually sift through has become unmanageable. Legal professionals often dedicate hours of their day sorting through documents and extracting relevant insights—Eve automates those processes end to end.” Jay Madheswaran, CEO and co-founder, Eve. “We’ve built the first engine that is able to reason, infer, and learn to truly work alongside lawyers.”

Meet the industry’s first customizable AI assistant for legal professionals

Eve is the first personalized AI assistant purpose-built with skills and knowledge specific to the legal profession. Eve is the only AI solution that can be used out-of-the box, and learns and increases value the more it becomes embedded in the firms’ day-to-day tasks and workflows. The solution comes pre-built with a “Skill Library”, a set of key legal skills designed to automate away low-value tasks for litigation, transactional law, and specific practice areas. Customers can also fine-tune and customize Eve for optimal performance in various practice areas and specialized use cases.

Eve helps law professionals:

• Automate low-value tasks: Delegate routine and repetitive tasks to Eve to free up valuable time, creative and strategic resources.
• Accelerate case resolution: Expedite case resolution, saving valuable time on preliminary steps, and delivering swift results.
• Augment existing processes: Teach Eve to adopt custom processes, optimize task execution, and increase efficiency with the firm’s specific needs.

Already a number of prominent law firms, including Frontier Law Center are using Eve to transform their legal practice.

“With Eve, what would have been three days of work, we completed in 45 minutes, my clients couldn’t be happier,” Manny Starr, a managing partner at Frontier Law Center. “I am now able to close cases 5 times faster.”

Fueling the company’s launch is a $14 million seed funding round led by Lightspeed Venture Partners and Menlo Ventures.

“Eve is proof of the transformative impact AI is having on every industry,” said Ravi Mhatre, Partner, Lightspeed Venture Partners. “Law professionals don’t need another tool to add to the pile; they need technology that will serve as a true extension of their team. Jay and his team are the first to deliver an AI-native solution that can truly work and think like a lawyer. We’re thrilled to partner with them as they bring their platform to every law firm worldwide.”

“There are many AI solutions today that claim to automate away tedious tasks, but few can  truly augment a workforce,” said Tim Tully, Partner, Menlo Ventures. “Eve not only serves as a force multiplier for law firms, it comes pre-built with industry knowledge and skills so lawyers can hit the ground running from Day One. We are beyond thrilled to partner with Jay and his co-founders as they help legal professionals accelerate their productivity.”

About Eve

Eve is the industry’s first customizable AI assistant for the legal profession. For more information visit www.eve.legal

SOURCE Eve