Cutting-edge virtual power plant (VPP) company poised to accelerate growth and expand market share with support of Deal Box’s capital raise technology

CARLSBAD, Calif., May 9, 2023 — Deal Box, a capital markets advisory and secure token offering packaging platform, today announced that Swan Innovations, a cutting-edge virtual power plant (VPP) company utilizing electric vehicles (EVs) to transform the energy industry, is launching a $3.25 million seed round using Deal Box’s capital raise technology. With this, Swan Innovations is poised to accelerate growth and expand audience reach, further cementing its position as a leader in the energy industry. Deal Box’s digital security-focused investment packaging and capital raising technology will allow Swan Innovations to efficiently and effectively get in front of interested investors, to secure the necessary capital to foster maximum growth into new markets.

The global virtual power plant market is projected to reach a valuation of $6.47 billion USD by 2028, a tremendous growth rate of 32.89%. Accelerated demand for renewable energy resources and support from government organizations in the development of such technologies, positions Swan Innovations to lead this market growth with cutting-edge innovation. As an early adopter in this emerging industry, Swan Innovation’s mission critical goal is to focus on developing and implementing advanced technology solutions in the VPP and EV space. The company aims to create a fleet of EVs that can be used as part of a VPP to provide reliable and economic value to the grid, which requires advanced technology solutions such as smart grid technologies and energy storage systems.

“Swan Innovations’ growth capital round represents a unique opportunity for investors to get in on the ground floor of a company that is poised for success,” said Thomas Carter, CEO and Chairman of Deal Box. “The company’s innovative technology, experienced management team, and strong track record of success, puts Swan Innovations in the best position to drive significant value for its investors over the long-term utilizing Deal Box’s capital raise technology.”

“We are thrilled to announce this expansion funding round, facilitated by Deal Box’s advanced capital raising technology,” said Kolin Cunningham, CEO and Founder of Swan Innovations. “Deal Box’s platform not only simplifies our fundraising efforts while providing greater access to funds, but also connects us with like-minded investors who share our enthusiasm for breakthrough technologies in sustainable green transportation and energy industry. Deal Box has been instrumental in crafting a clear pathway to access capital, enabling us to collaborate with the community and expedite the scaling of our innovative solutions.”

To learn more about Deal Box and its investment packaging services, visit here. You can also click here to learn more about Swan Innovations and the energy solutions it’s pioneering.

About Deal Box 
Deal Box is a digital assets platform transforming venture investments. Since 2017, Deal Box has rigorously vetted and digitized over $250M of assets, embedding transparency and compliance into thousands of venture transactions. From deal structuring to digitizing company shares, Deal Box manages the entire asset lifecycle to deliver investors a secure and seamless ownership experience. In addition to its digital assets platform, Deal Box provides comprehensive capital advisory services through Investment Packaging™. Spanning data room creation, financial modeling, and valuation analysis, Investment Packaging™ is a six-week process that helps issuers avoid painfully lengthy or canceled investment timelines, giving investors an efficient diligence process and a streamlined investment experience.

About Swan Innovations

Swan Innovations and its subsidiaries, Swan Energy and Swan Car, were founded in 2020 as a green technology and transportation company. The mission of Swan Innovations is to grow a community that utilizes renewable energy. Through a virtual energy grid and car sharing platform, Swan Innovations is unlocking the benefits of sustainable transportation for all. Swan Innovations is committed to returning power to the hands of local communities through sustainable and collaborative practices.

For Media Enquiries
Sena McGrand/Michael Gallo
Lumina Communications
[email protected] 

SOURCE Deal Box

• Hanaco VC, General Motors, CarMax, W.R. Berkley Corporation and F.I.T. Ventures L.P. among UVeye’s Series D funding-round investors
• Funding to support further growth in sales and launch new manufacturing operations in North America

DETROIT, May 9, 2023 — UVeye, a pioneer in the development of automated vehicle-inspection systems for the auto industry, has secured $100 million in additional funding to support major new sales and manufacturing initiatives in North America.

The company’s recently completed Series D investment round was led by Hanaco VC, a venture-capital firm based in New York and Tel Aviv with $1.5 billion in assets under management, including investments in companies such as Digital Ocean, Yotpo and Divvy. The firm’s mobility focus includes investments in Moovit and Via Transportation.

Existing investors who also participated in the Series D round included GM Ventures, CarMax, W.R. Berkley Corporation, F.I.T. Ventures L.P. and Israeli institutional investors.

Series D funding will be used to start production of UVeye inspection systems in North America, support further sales growth in the U.S. and fuel new-market expansion efforts.

“UVeye’s goal is to both revolutionize and standardize how the auto industry detects vehicle damage and mechanical issues,” said Amir Hever, the company’s CEO and co-founder. “Our patent-protected technology provides automakers, dealers and fleet operators with unmatched solutions for quickly and accurately identifying vehicle problems while setting new quality standards for the industry.”

He added that “The confidence that Hanaco VC and our other strategic investors have shown in UVeye will allow us to further scale our operations and introduce industry-first inspection technology at thousands of dealerships, used-car auctions and fleets throughout the United States within the next three years.”

UVeye currently has facilities in North America, Europe and the Asia Pacific region, including offices in Israel, Japan, Germany and the United States. Since its founding in 2016, the company has raised $200 million in investment capital and formed strategic partnerships with numerous automakers, dealership groups and used-car auctions.

Lior Prosor, partner at Hanaco VC, noted “Automated inspection of vehicles enabled by advanced computer vision and AI is in its first innings, but will completely transform the auto industry.

“As electric and autonomous vehicles become more and more complex and fleets become more difficult to manage, low-cost and high-frequency predictive maintenance will become an essential part of any auto stack. We have spent the last 24 months looking for the right player to back in this market and believe UVeye is best positioned to become the long-term category leader in the space.”

Headquartered in Teaneck, New Jersey and in Tel Aviv, Israel, UVeye offers industry-first vehicle-inspection systems based on advanced artificial intelligence, computer-vision and machine-learning technologies for both the automotive and homeland security industries.

During 2022 and early 2023 UVeye announced major programs in the United States involving more than 5,000 dealerships, used-car auctions and fleets including commercial agreements with General Motors, Volvo Cars USA and CarMax to introduce UVeye technology throughout their wholesale networks.

“Our agreements with leading players in the U.S. market will lead to the installation of thousands of new UVeye inspection systems within the next two-to-three years and generate an exponential jump in sales,” Hever said.

The company currently produces three high-speed vehicle-inspection systems suited for use at new- and used-car dealerships, used-car auctions and major fleets. The rapid drive-through systems include:

• Helios – An underbody scanner that detects a wide variety of problems including frame damage, missing parts and fluid leaks, as well as brake- and exhaust-system issues.
• Artemis – A system that checks tire quality. Within seconds it identifies tire brand, technical specifications, air pressure, tread depth, sidewall damage, whether or not a vehicle’s tires are mismatched and alignment issues.
• Atlas – A 360-degree vehicle-exterior detection system that checks sheet metal and other external body components such as bumpers, door locks, grilles and windows.

About UVeye

UVeye has created the world’s first fully-automated suite of vehicle-inspection systems.

Utilizing a unique combination of proprietary algorithms, cloud architecture, artificial intelligence, machine learning and sensor-fusion technologies, the company’s groundbreaking drive-thru systems can detect external or mechanical flaws and identify anomalies, modifications or foreign objects under and around any side of a vehicle within seconds.

UVeye technology can detect a virtually limitless list of vehicle problems, including oil leaks, exterior damage such as scratches and dents, tire sidewall and tread issues and numerous forms of underbody damage.

Originally developed for use in the homeland security industry, UVeye expanded its technology applications to the auto industry, revolutionizing multipoint inspection processes and improving the customer experience by scanning for and identifying a wide variety of quality and repair concerns. Additional information is available at www.uveye.com.

SOURCE UVeye

INDIANAPOLIS, May 9, 2023 — Eli Lilly and Company (NYSE: LLY) has allocated an additional $50 million to its now $300 million Social Impact Venture Capital Portfolio, reflecting the company’s commitment to going beyond the medicines it makes to have a positive impact on patients and society through for-profit investments.

The portfolio is aligned with Lilly’s efforts to combat racial injustice and its effects on Black Americans and historically marginalized communities in the U.S., as well as Lilly 30×30, a global initiative to improve access to quality healthcare for 30 million people living in limited-resource settings annually by 2030.

“Lilly is pleased to announce the expansion of our inclusive, for-profit Social Impact Venture Capital Portfolio aimed at leveraging Lilly’s resources to invest with purpose,” said Anat Ashkenazi, Lilly’s executive vice president and chief financial officer. “Through this investing strategy, we are not only taking into account the potential for monetary returns but also a fund’s impact on people’s lives, livelihoods, health and wellbeing.”   

The additional $50 million will go towards venture capital firms that specialize in near- and long-term healthcare solutions for patients in low- and middle-income countries, such as hospital systems, pharmacies, medical devices, digital health, diagnostics, therapeutics and more.

Included in this allocation is a recent commitment to LeapFrog Emerging Consumer Fund IV. LeapFrog is an impact growth equity fund investing in South and Southeast Asian and African businesses that, among other priorities, provide innovative healthcare solutions to low-income consumers by offering relevant and affordable products to promote wellness and help prevent and manage chronic diseases.

Lilly launched the Social Impact Venture Capital Portfolio in 2020 with a $100 million commitment to the AMR Action Fund, which aims to bring two to four new antibiotics to patients by 2030 to provide the next line of defense against multi-drug resistant pathogens. In April 2023, the AMR Action Fund announced its latest investments in biotech companies targeting a range of infections.  

Since 2020, Lilly has allocated $150 million as part of its Racial Justice Commitment, $110 million of which has already been committed to eight newly formed U.S.-based Black and minority-led venture capital firms, four of which are led by women.

Through these investments, Lilly has indirectly funded over 50 U.S.-based start-ups, many of which are focused on building healthcare solutions ranging from increasing clinical trial diversity, emphasizing women’s health care, promoting culturally competent care, and increasing healthcare accessibility and affordability for marginalized communities. 

About Lilly
Lilly unites caring with discovery to create medicines that make life better for people around the world. We’ve been pioneering life-changing discoveries for nearly 150 years, and today our medicines help more than 51 million people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world’s most significant health challenges, redefining diabetes care, treating obesity and curtailing its most devastating long-term effects, advancing the fight against Alzheimer’s disease, providing solutions to some of the most debilitating immune system disorders, and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we’re motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/newsroom or follow us on Facebook, Instagram, Twitter and LinkedIn. I-LLY

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Lilly’s Social Impact Venture Capital Portfolio and reflects Lilly’s current beliefs and expectations. However, there can be no assurance that Lilly’s Social Impact Venture Capital Portfolio or the related investments will achieve Lilly’s objectives or that Lilly will execute its strategy as planned. For further discussion of risks and uncertainties relevant to Lilly’s business that could cause actual results to differ from Lilly’s expectations, see Lilly’s Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

Refer to:  Carrie Munk, [email protected]; 317-416-2393

SOURCE Eli Lilly and Company

GuRou: Empowering 1.5 Billion English Learners Globally with AI-Powered Precision

TORONTO, May 9, 2023 — LillyPad.ai, a leading innovator in the field of English language learning, is thrilled to announce the launch of GuRou. Built on cutting-edge artificial intelligence technology, GuRou offers a unique, personalized, and highly engaging approach to attaining English proficiency.

GuRou, which stands for “Guide Route,” provides learners with an immersive and customizable learning experience. Focused on reading, students can either use their own materials or choose from an extensive library of content, enriched by an AI-driven, interactive English reading-aloud experience.

Learners can also interact with any content and test their comprehension or identify and easily learn parts of speech. GuRou also incorporates hyper-personalized learning modules that cover essential language skills such as spelling, pronunciation, vocabulary, conversational phrases, and more.

This innovative guided route allows users to enjoy a valuable learning experience tailored to their interests and goals, ensuring that they remain engaged and motivated throughout the process. By incorporating user-selected content and employing AI-driven personalization, GuRou delivers English proficiency at an accelerated pace.

Key Features of GuRou:

• Immersive Reading & Learning: Improve English proficiency while reading the content of interest with an AI, with the ability to interact, test, and improve comprehension in multiple ways.
• Parts of Speech Learning: Enhance English speaking and writing skills by identifying and learning parts of speech in multiple different ways with any content.
• Comprehensive Learning Experience: Master essential English skills through 10 hyper-personalized learning modules, including spelling, pronunciation, vocabulary, customizable conversational phrases, all English tenses, bi-directional exercises, and more.
• AI-Powered Personalization: Benefit from a tailored learning experience that adapts to students` unique needs and interests, ensuring optimal engagement and faster results.

LillyPad.ai’s GuRou is poised to revolutionize the way people learn English, offering a highly engaging, hyper-personalized, and most recommended approach to English language proficiency. Discover the power of AI-driven English learning, and experience the future of English language education with LillyPad’s GuRou.

About LillyPad.ai:

LillyPad.ai is a pioneer in the development of AI-driven English language learning solutions. With a passion for innovation and a commitment to delivering highly effective and engaging learning experiences, LillyPad.ai is transforming the way people around the world master English. 

To learn more about LillyPad.ai visit their website at https://lillypad.ai or read their blog.

Contact: Chris MacDonald, +1 647.533.9633, [email protected]

SOURCE LillyPad.ai

With an initial seed investment of $12 million, Optain becomes the first company announced in Ascertain’s growing portfolio of AI companies.

NEW YORK, May 9, 2023 — Today Ascertain, a revolutionary collaboration between Aegis Ventures and Northwell Holdings, announced a seed funding round to launch Optain, an artificial intelligence company that enables early identification and disease prevention through retinal imaging.

The eye can act as a window to an individual’s health, but for far too long, non-invasive diagnostics and screenings using the eye have not been available to healthcare providers. Traditional diagnostic methods are often expensive, hard-to-access, and slow; Optain utilizes emerging AI technology that analyzes information obtained from a simple retinal camera to screen for and diagnose multiple chronic and acute conditions, ranging from ophthalmological to cardiovascular or neurological – all in real-time.

With this $12 million investment, Optain is the first company launched by Ascertain, Aegis Ventures and Northwell Holdings’ collaboration to develop healthcare AI companies at scale. Ascertain was created in April 2022 to combine leading medical, technology, data and business resources in a company creation platform that addresses healthcare’s most challenging quality, equity, and cost problems.

“The healthcare industry has made a concerted effort in recent years to shift treatment from reactive sick-care to proactive preventive care, but many of the legacy screening and diagnostic technologies used by clinicians today are expensive and inaccessible,” said Jeff Dunkel, CEO of Optain. “Optain will accelerate that shift and make preventive care ubiquitous by placing smarter, faster, and more efficient diagnostic tools in the hands of clinicians everywhere.”

“The most immediate opportunity for impact is within ophthalmology,” Dunkel adds. “Optain’s first goal is to expand access to screenings and diagnosis for preventable eye disease, closing critical health equity gaps, particularly in underserved communities where diagnostic and screening tools aren’t available.”

While brand new to the United States, Optain’s roots can be traced back to the Australian-founded company Eyetelligence, which launched in 2019. Eyetelligence is based on the inventions of Professor Mingguang He, a leading clinician-scientist at the University of Melbourne and Centre for Eye Research Australia. The company has developed a suite of clinically validated and regulatory-approved AI products commercialized in the Australian, New Zealand, European, Japanese and Middle Eastern markets. In addition, Eyetelligence’s products are being implemented in two of the largest retail eyecare chains in Australia.

“The three most common eye diseases – diabetic retinopathy, age-related macular degeneration, and glaucoma – can be detected far earlier with algorithmic retinal image analysis. These three diseases, however, are just the tip of the iceberg,” said Prof. Mingguang He. “The eye is a window through which we can discern any disease that affects the microvascular system. This technology allows clinicians to act faster and prevent significant impacts on quality of life.”

The Ascertain team’s goal is to facilitate and accelerate the availability of Optain’s advanced capabilities here in the U.S., benefitting both providers and patients. Northwell Health, the largest healthcare provider and private employer in New York State and one of the ten largest health systems in the U.S., will be Optain’s flagship commercial customer. Optain’s groundbreaking AI-enabled technology will help Northwell catalyze its mission to make healthcare more equitable and ensure more patients have access to high-quality preventive care.

“By harnessing the tremendous insight that can be gained through retinal scanning, and combining that with innovative AI, Optain’s technology represents enormous potential to improve the manner and timeliness in which we can diagnose and treat disease, said Richard Braunstein, MD, Senior Vice President and Executive Director of Ophthalmology at Northwell Health. “We believe that leveraging Northwell’s clinical expertise, data assets and vast clinical footprint positions us well to refine and advance such groundbreaking solutions and improve the treatment and care of patients.”

This is the collaboration’s first investment in an emerging AI technology originally developed overseas. One of Ascertain’s goals is to expedite the pathway to regulatory approval for these innovative companies, supporting their launch and scale within the United States. By doing so, Ascertain raises awareness and accelerates the impact of solutions that might otherwise have gone unnoticed. Eyetelligence will continue to expand both in Australia and in other international markets. As the brand grows and scales, the Ascertain team is determined to foster innovation and improve patient care by investing in and cultivating solutions like those offered by Optain. They are eager to connect with other innovative founders, investors and partners in the healthcare AI space.

About Optain

Optain is transforming preventive health with industry-leading AI-enabled software and hardware products that noninvasively diagnose eye and systemic health conditions in real-time. Using the eye as a gateway to monitor whole-person health, Optain’s AI-enabled portable retinal camera empowers clinicians to screen for over 140 eye and systemic conditions in the early stages of development. The company’s approach is based on over a decade of research conducted by Professor Mingguang He, a leading researcher at the University of Melbourne and Centre for Eye Research in Australia. By placing powerful AI-enabled diagnostic tools in the hands of clinicians, Optain will reduce wasteful spending, close gaps in care, and make high-quality healthcare accessible to all. To learn more about Optain, visit our website and follow us on LinkedIn. 

About Aegis Ventures

Aegis Ventures is a next-generation startup studio that partners with entrepreneurs and industry leaders to originate, launch, and scale transformative companies. Our platform brings together market-shaping ideas, permanent growth capital, and ambitious individuals driven to solve major societal problems. We aim to build companies with the capacity for vast impact, with an initial focus on artificial intelligence and digital health. Within these verticals, Aegis seeks to create companies that leverage technology to better optimize tradeoffs between quality, access, and cost, focusing on innovations that promote seamless continuity of care, patient empowerment, and better-informed clinical decision-making. To learn more about Aegis, visit our website aegisventures.com and follow us on LinkedIn.

About Northwell Holdings

Northwell Holdings (“Holdings”), a fully owned, for-profit subsidiary of Northwell Health, creates value for the health system by investing in early-stage companies, establishing commercial joint ventures, cultivating internally-developed ideas and bringing them to market, and advancing data collaborations that drive innovation in patient care, health diagnostics, and deep technology. We invest in companies that are aligned with Northwell’s mission, promote better health outcomes, improve patient experience, and increase efficiencies in care delivery and services. Through strategic collaborations, Holdings leverages the health system’s robust enterprise data assets to develop AI-enabled solutions that address healthcare inequities. We combine Northwell Health’s clinical and healthcare business expertise and entrepreneurial spirit to bring concepts to life. Northwell Health is New York’s largest healthcare system. To learn more, visit us here and follow us on LinkedIn.

Press Contact:
Jill O’Brien
Optain and Aegis Ventures
[email protected]

Sandy Dell
Northwell Holdings
212-582-1185
[email protected]

Miriam Sholder
Northwell Health
516-427-3762
[email protected]

SOURCE Aegis Venture Partners LLC

Funding infusion will accelerate Onspring’s product development and hiring plans for the continued delivery of exceptional software performance and ROI for customers

OVERLAND PARK, Kan., May 9, 2023 — Onspring, the automated SaaS GRC software platform that delivers no-code connection across an enterprise, has raised strategic capital from Capital IP. The funding will drive continued investment in platform improvements around AI, integrations, and user experience, in addition to new product development that will accelerate market share growth in the GRC category. Onspring is a founder-owned and led company that originated in 2013 and has consistently outperformed the SaaS Rule of 40.  This news comes as Onspring announces hiring for additional engineering, sales development, and customer success team members to further build out its product suite and customer experience.

Onspring has maintained consistent revenue growth and world-class customer retention since its inception and recently expanded into the federal market with its FedRAMP In Process designation. Quarterly software releases of platform enhancements and new functionality contribute to Onspring’s continuous ranking as a top GRC software for information security, risk management, compliance, and internal audit teams. Three new products released in the past year – POA&Ms, ESG, and Regulatory Change Management – deliver solutions that serve market demand and provide necessary connective tissue to manage comprehensive governance, risk, and compliance programs.

As organizations move to consolidate technology and shift preference to self-administering cloud-based software, Onspring is positioned for a tremendous growth trajectory. “Our focus on consistent and responsible growth has fueled our financial strength and ability to deliver ROI for customers,” says Chris Pantaenius, Onspring co-founder. “Our plans to dramatically accelerate Onspring’s growth are now in place, creating opportunities for us to take bigger bets on product development to revolutionize the GRC market,” stated Chad Kreimendahl, Onspring co-founder.

“Onspring’s history of consistent profitable growth and efficient unit economics in an attractive and growing market was a compelling investment thesis and drove our decision to partner with Chris, Chad, and team,” says Capital IP’s Managing Partner Riyad Shahjahan. “At Capital IP, we seek to partner with companies with disruptive technologies and strong market presence.  Our capital will help advance the pace of innovation at Onspring and further enhance the incredible customer value being delivered.”

Onspring was advised by Momentum Cybersecurity Group, LLC.

About Onspring

Onspring is a no-code, cloud-based GRC software that automates critical risk and compliance activities, including mapping policies to controls, findings, regulations, and governance frameworks, triggering workflows for remediation activities and visualizing real-time data for accurate reporting and faster, better decision-making. Onspring ranks as the #1 GRC software in the InfoTech Research Group quadrant, maintains 5-star customer reviews on G2 Crowd and Capterra, is a multi-year Trust Award finalist in Business Continuity & Disaster Recovery, and is consistently recognized as one of the Best Places to Work in Kansas City. To learn more about Onspring software and its GRC products, visit Onspring’s website.

About Capital IP Investment Partners
Capital IP Investment Partners (“Capital IP” or “CapIP”) is a minority co-founded specialty credit firm focused exclusively on investments in technology and technology-enabled businesses. Our collaborative approach to investing, combined with our technology-industry expertise, allows Capital IP to assess the intrinsic value of growing technology businesses and to offer a range of novel, creative financing solutions. The Capital IP team has a long, proven history of providing flexible structured credit to companies in the technology sector, and continues to lead the industry in financial innovation. The principals of CapIP have historically invested over $1.3 billion in innovative, emerging companies. For more information on Capital IP Investment Partners, please visit: www.capitalip.com.

SOURCE Onspring

LONDON, May 9, 2023 — Ascend Gene & Cell Therapies (Ascend), a specialist company innovating manufacturing processes to improve quality, potency, safety and cost enabling better reach for gene therapy technologies, announces today that it has launched as a facilitator for gene therapy companies to help translate product ideas into viable clinical programs.

Ascend offers process development, clinical manufacturing, and analytical and regulatory support for biotech companies working in advanced modalities requiring flexible CMC services.

Originally founded by Monograph Capital, Ascend has raised a total of $132.5M, most recently completing a Series A fundraise led by Abingworth and Petrichor, supported by DCVC Bio, 4BIO Capital, Cathay Health, Deerfield Management, Digitalis Ventures and Ajinomoto Co., Inc.

This fundraising has enabled the acquisition of CMC capabilities and technologies from Freeline Therapeutics and provides operational runway to build the business.

Initially focused on high-quality Adeno-associated virus (AAV) vectors, Ascend brings together a team of approximately 120 cross-functional experts who have already developed processes for a number of AAV products currently under clinical development.

Operating from an evolving technology base which uses a split two-plasmid transfection system for AAV manufacture and broad suite of assays, Ascend has an established global footprint created by acquiring and merging experienced teams across three countries and two continents.

Ascend’s operations are headquartered in the UK with GMP production in Potters Bar, North London, platform technology research in the San Francisco Bay Area, USA, and a specialist process development and analytics team in Munich, Germany.

The company is led by an experienced leadership team, headed by former Chief Operating Officer at Cognate Bioservices (now part of Charles River), Chief Executive Officer Mike Stella who brings 30 years of manufacturing expertise. Ascend’s team also includes Chief Financial Officer Wes McConnell who joined from Bavarian Nordic with 20 years in the life science and viral vector-based manufacturing field, Chief Scientific Officer Markus Hörer who began his career in AAV over 30 years ago and brings significant expertise in developing AAV products as well as other viral vector-based therapeutics, and Chief Operating Officer Arjan Roozen who has built and operated a number of ATMP facilities across multiple geographies.

Mike Stella, Chief Executive Officer of Ascend, said: “Ascend is a service provider for biotechnology companies, created by bringing together expert teams with regulatory sophistication who have ‘been-there-done-that’ and who understand that the quality and potency of product is just as important as yield.”

“We believe that creating a therapy that changes lives means improving on what’s come before. We are excited to bring a new approach to the space and thank all our investors for their support. We will continue to refine and flex our model, staying adaptable to meet the needs of the market.”

Lead investor Bali Muralidhar, Chief Investment Officer, Abingworth added: “Ascend brings an extremely compelling proposition to the gene and cell therapy space and is already working with biotechnology clients who appreciate the team’s analytical expertise, enabling the development of high-quality, high-potency vectors to make safe and efficacious therapies, as well as the adaptability and holistic service.”

“We are thrilled to be supporting the UK-based company’s next phase of growth, which among other things will focus on building the US manufacturing footprint, adding capabilities and expanding into complementary modalities.”

Co-lead investor Michael Beecham, Partner, Petrichor, commented: “The team at Ascend represents world-leading expertise across AAV development and manufacturing, bringing the science-first perspective of leading their own programs and solving complex challenges to clients across cell and gene therapies. We are excited to support Ascend in its global expansion and future growth.”

Founding investor, Tim Funnell at Monograph Capital, said: “AAV manufacturing is complex and needs teams that show real expertise and ownership. This led many advanced modality biotech developers to build their own internal CMC capabilities. However, these companies are now finding it difficult to sustain and fully utilise their facilities.”

“Ascend is realigning this market by carving out CMC units from biotech product developers and offering their capabilities as a service to the originator alongside new clients. This is a more efficient structure that consolidates best-of-breed manufacturing methods and will support the next generation of companies who are looking for external CMC partners.”

Bali Muralidhar and Andrew Sinclair of Abingworth, Michael Beecham of Petrichor, Eric Shiozaki of DCVC Bio and Andrew Kozlov of 4BIO Capital will join Ascend’s Board of Directors. Jia-Yi Har of Cathay Health joins as a Board Observer.

Ascend will be attending The American Society of Gene & Cell Therapy (ASGCT) 26th Annual Meeting in Los Angeles, CA, USA, May 16-20, 2023, presenting nine posters exemplifying its capabilities from AAV vector design to manufacturing platform process and integrated analytics platform.

Visit www.ascend-gctx.com to find out more.

For media inquiries, please contact:

Rachael Heath, Senior PR Manager: [email protected]

About Ascend

At Ascend we aim high. We support our partners to cure the previously incurable by creating the most effective, highest-quality AAV gene therapies possible. But to achieve that, we must be capable of constantly refining and flexing our approach. Operating an efficient, streamlined model, we provide more than just a service. We’re a team of highly skilled individuals who each share a hunger to use their knowledge and experience to help our clients succeed – whether that’s by innovating new techniques, solving unexpected problems, or offering some honest advice. The result? Consistently high quality and low risk for our clients.

SOURCE Ascend

VICTORIA, BC, May 8, 2023 – Vitamin-One Formulas Ltd (dba VitaminLab), a leader in truly personalized supplements designed to meet individual health needs, today announced that it has closed a Series A investment round co-led by Nimbus Synergies and DSM Venturing. The proceeds of the financing will be used to expand VitaminLab’s facilities and state-of-the-art automation lines as well as scale its go-to-market activities across North America.

“VitaminLab’s disruptive approach is revolutionizing the personalized nutrition industry and we are thrilled to continue supporting its positive impact on consumer health,” said Paul Geyer, CEO of Nimbus Synergies. “We are also excited to have DSM Venturing’s support on this journey, sharing their knowledge and experience. VitaminLab has been extremely capital efficient to-date and we know these additional funds and resources will fuel even faster growth, making personalized supplementation accessible to more people.”

VitaminLab’s innovative, evidence-based, approach considers multiple data points of an individual including health history, blood test results, and DNA . The personalized supplement is created using a proprietary process and machinery and formulated from a comprehensive nutrient list of more than 200 high-quality ingredients. VitaminLab has been growing rapidly through direct-to-consumer e-commerce, integrated healthcare practitioners and integrations with leading health testing companies.

“Our mission is to redefine the status quo and unlock better health outcomes by transforming how we take vitamins through tailored and truly unique formulas,” says Anton Solonnikov, CEO of VitaminLab. “This financing allows us to extend our leadership position by further investing in our technology and expanding our sales and marketing into the practitioner market and new areas of growth.”

As part of the investment, Greg McParland, Investment Director of DSM Venturing, will join the Board along with Laura Cassin, Investment Associate of Nimbus Synergies, who has been on the Board since November 2022.

ABOUT VITAMINLAB
VitaminLab creates truly personalized supplementation for individuals, patients and practitioners. It proudly formulates, tests and produces at its NSF-certified facility in downtown Victoria, BC, Canada.  With innovations in engineering and robotics, VitaminLab has built a smart factory from the ground up to scale true personalization.

ABOUT NIMBUS SYNERGIES
Nimbus Synergies leads early-stage financings in innovative and complementary health technology companies in Canada. By bringing these companies together to share resources, industry specific knowledge, and relationships, Nimbus is accelerating their growth and increasing their likelihood of success. Nimbus is significantly impacting the health technology sector through its leadership as investor, partner and mentor.

ABOUT DSM VENTURING
DSM Venturing is the corporate venture arm of Royal DSM – a global, purpose-led, science-based company active in Nutrition, Health and Sustainable Living. DSM addresses with its products and solutions some of the world’s biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders. DSM and its associated companies deliver annual net sales of about €10 billion and is listed on Euronext Amsterdam.

Related links: http://getvitaminlab.com/

SOURCE VitaminLab

Related Links

http://getvitaminlab.com/

New Kids’ Nutrition Brand On A Mission To Create Higher Standards For How The U.S. Makes And Markets Healthier Food And Beverages For Kids

WASHINGTON, May 8, 2023 — Juggernaut Capital Partners, a leading middle market private equity investor in the consumer and healthcare sectors, is pleased to announce it has invested in PLEZi Nutrition, a new mission-driven kids’ nutrition brand.  Former First Lady Michelle Obama is a Co-Founder and Strategic Partner with PLEZi Nutrition, working behind the scenes to guide the company’s mission to be a driver of change and a model for how food and beverage brands can support the health of our next generation.

“The Former First Lady and I have been friends for 15 years, and I am thrilled that we can work together to bring great-tasting, next-generation nutritional products to our kids,” said John Shulman, Founder and Managing Partner of Juggernaut.  “PLEZi Nutrition is committed to continuous innovation, and beyond our initial beverage launch, we plan to bring additional products to market.”

PLEZi Nutrition was founded to give parents a helping hand by offering great-tasting products that provide the nutrients kids need and help to replace sugary drinks and snacks.  PLEZi Nutrition’s first product is a kids’ drink called PLEZi, with 75% less sugar than the leading 100% fruit juices, no added sugar, plus fiber and nutrients like potassium, magnesium, and zinc.  Importantly, while PLEZi is lowering sugar, it is also lowering sweetness so that kids grow up with less reliance on sugar.

In addition to its product innovation, PLEZi Nutrition will be an educational platform, using resources to engage families about what’s best for kids’ health, like drinking water and eating whole fruits and vegetables.  Giving back is another key component of PLEZi Nutrition’s efforts to make a meaningful impact on kids’ health.  Mrs. Obama announced an initial donation of $1 million to FoodCorps’ Nourishing Futures initiative, which is working to ensure all 50 million students across the country have access to nutrition education and free school meals by 2030.  Going forward, PLEZi Nutrition will be investing 10% of profits right back into the broader movement to promote kids’ health.

About PLEZi Nutrition 
PLEZi Nutrition, a public benefit company, is a new kids’ brand created to bring higher standards to how we make and market food and beverages for our kids. We are the motivated voices of parents everywhere looking for more practical, healthier options. Our first product is a kids’ drink called PLEZi with no added sugar and 75% less sugar than average leading 100% fruit juices. PLEZi also contains fiber and nutrients to support kids’ growing bodies. PLEZi the product, the platform, and the philanthropic efforts are here to help raise a healthier generation of kids and have some fun along the way. PLEZi Nutrition is part of Juggernaut Capital’s portfolio of companies.  For more information, visit www.plezi.com.

About Juggernaut Capital Partners
Juggernaut Capital Partners is a leading private equity firm focusing on lower middle market companies, primarily in the consumer and healthcare sectors.  Juggernaut has a family of funds representing over $1 billion of capital commitments.  For more information on Juggernaut Capital Partners, please visit www.juggernautcap.com.

Press Contact:
Sara Shockley, Juggernaut Capital Partners
[email protected]

SOURCE Juggernaut Capital Partners