The funding, led by Amaanah Circle, a Singapore-based health tech fund, includes investors like Epic Angels, Cross Fund, USAID, Augmentor, Impact Investment Exchange (IIX), and the Elahi group of companies.

Founded by Dr. Sara Saeed Khurram and Dr. Iffat Zafar Aga, Sehat Kahani offers virtual doctor-patient connections within 60 seconds, along with on-demand laboratory services and online medicine delivery. The support from USAID has been crucial for Sehat Kahani’s growth.

Dr. Sara Saeed Khurram views the funding as pivotal for their future, enabling the development of advanced features like decision support systems and predictive AI models.

Its Corporate Application offers hassle-free access to specialists for corporate employees and their families, while the Consumer Application operates in over 310 cities, providing affordable healthcare.

Dr. Iffat Zafar Aga notes its significant growth, with a 141% average year-on-year growth and a fivefold increase in consultations post-COVID. The funding will support Sehat Kahani’s global expansion plans.

Sehat Kahani, with its network of over 7,500 healthcare professionals, aims to bridge healthcare gaps and empower women in medicine with its innovative solutions.

PARIS–(BUSINESS WIRE)–Gradient Denervation Technologies (“Gradient”), a medical device company developing an innovative catheter-based solution for the treatment of pulmonary hypertension, announces today the successful closing of a €14m Series A financing that will support ongoing clinical development and evaluation of the ultrasound-based catheter device. Asabys Partners led the round through its new fund Sabadell Asabys II and was joined by Thuja Capital and founding investor Sofinnova Partners. Gradient was established in 2020 through a €3.5m seed financing from Sofinnova MD Start, the venture capital firm’s dedicated medtech accelerator.

Headquartered in Paris, the company is founded on cutting-edge innovation developed by the clinicians Dr. Swaminadhan Gnanashanmugam and Dr. Jeffrey Feinstein at the prestigious Stanford Biodesign Program. The company initiated a first-in-human clinical study earlier this year.

Gradient’s novel technology aims to treat patients with pulmonary hypertension by reducing sympathetic input into the pulmonary vasculature. The company’s initial focus is the Group 2 pulmonary hypertension patient population, which consists of patients with heart failure and associated high pulmonary vascular resistance. Up to 50% of heart failure patients have this debilitating condition, resulting in a large patient population with no approved therapies. Gradient’s minimally invasive device, designed for use in the pulmonary arteries, harnesses therapeutic ultrasound energy to perform the denervation procedure.

Martin Grasse, Chief Executive Officer of Gradient, said, “I’m very happy to welcome Asabys Partners and Thuja Capital to the Gradient team. In addition to capital, these investors bring deep expertise and thought partnership to Gradient as we seek to bring our technology to patients.”

Sylvain Sachot, Partner at Asabys Partners, said, “Gradient’s technology has the potential to become a first-in-class treatment for patients suffering from heart failure and elevated pulmonary pressures. The company is ready to prove the concept of its technology in the clinic, and we look forward to joining the management in this exciting journey.”

Evan Castiglia, Partner at Thuja Capital, added, “Gradient has the potential to significantly improve the care of patients with pulmonary hypertension due to left heart disease, a patient group with a substantial need for better treatment solutions. We are excited to support the team as they pursue this mission.”

Mano Iyer, Venture Partner at Sofinnova Partners, commented, “Our continued support for Gradient underscores Sofinnova’s mission of backing world-class innovation. The transformative potential we saw in Gradient’s unique technology at the outset is increasingly apparent, reinforcing our early conviction. We are excited to work with an expanded investor base to make this technology available for all patients with heart failure and pulmonary hypertension.”

About Gradient Denervation Technologies

Gradient Denervation Technologies has developed a minimally invasive device for the treatment of pulmonary hypertension. Gradient leverages intellectual property developed at Stanford University and has been incubated since 2020 by Sofinnova MD Start, a Paris-based medtech accelerator that actively works with clinicians and entrepreneurs to develop disruptive medical devices. The Gradient device is for investigational use only and is not approved for commercial use. www.gradientdenervation.com

About Asabys Partners

Asabys Partners is a venture capital firm specialized in the healthcare sector, founded in 2018 by Josep Ll. Sanfeliu and Clara Campàs, participated by Alantra and with the support of Banc Sabadell as anchor investor. With close to €217 million in AUM and 15 portfolio companies (+1 exit), Asabys invests in highly innovative and disruptive companies covering unmet medical needs in the biopharma and healthtech verticals. The firm’s investment in the company comes from its vehicles Sabadell Asabys Health Innovation Investments II, FCR and Sabadell Asabys Health Innovation Investments 2B, SCR SA. This operation benefits from the support of the European Union under the InvestEU Fund. www.asabys.com

About Thuja Capital

Thuja Capital Management (Thuja Capital) manages several venture capital funds aimed at building and scaling companies in the fields of (bio)pharmaceuticals, medtech and digital health. In addition to generating a financial return for its investors, Thuja’s investments aim to positively impact the health and well-being of patients. Thuja serves physicians and patients worldwide by providing capital and support to daring entrepreneurs with ground-breaking product concepts. For more information, please visit www.thujacapital.com

About Sofinnova Partners

Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical, and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.

Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: www.sofinnovapartners.com

Contacts

CEO of Gradient

Martin Grasse
martin@gradientdenervation.com
www.gradientdenervation.com
+33 01 76 23 41 00

The global pet care industry is exploding, valued at $235B in 2022 and expected to reach $368B by 2030 driven by increasing pet ownership and spending per pet.¹ Within pet care, animal health, which includes products and services for animal healthcare, is poised to overtake food and treats as the largest sector due to the rising demand for personalized care, preventative health, and advancements in veterinary medicine.²

Mixlab is disrupting this underserved market by focusing on creating a better pharmacy experience for veterinarians, pet parents and pets. Mixlab’s proprietary technology makes it easy for veterinarians to write and manage prescriptions, eliminating the need for back-and-forth phone calls and faxes, ensuring greater compliance and improving financial outcomes. For pet parents, Mixlab makes a stressful time delightful with thoughtful personalized packaging, proactive text-based communication and industry-leading turnaround times. Free next-day delivery is standard for customers in all 50 states.

Fred Dijols, Founder and CEO of Mixlab, states, “This investment further validates our vision for creating a modern best-in-class pet healthcare brand and will allow us to continue expanding our capabilities, provide unmatched customer service, and make a positive impact on the lives of countless pets, pet parents and veterinarians.”

Mixlab serves thousands of pet parents and veterinarians nationwide out of its New York City and Los Angeles labs. With this new funding, Mixlab has expanded operations with a third pharmacy in Florida, allowing the company to now offer same-day delivery to customers in the Miami-West Palm Beach area as it does with its other two lab locations. To date, Mixlab has primarily focused on compounded medications. In response to the overwhelming demand from veterinarians and pet parents to offer more products, Mixlab will continue to broaden its offering to include branded and generic medications and over-the-counter products and become the one-stop shop for all pet health and wellness needs.

Last year, Mixlab appointed healthcare operations veteran George Koveos as Chief Operating Officer and Libby Loskota as SVP of Sales and Marketing to oversee the company’s accelerated growth. Koveos was previously the COO of Ro, a vertically integrated human healthcare platform that grew to a $5 billion valuation under his leadership. Loskota previously ran global marketing at TaskUs (Nasdaq: TASK).

Joining Mixlab’s board of directors, Ellis Fried, Vice President of Vanterra Ventures, said about the company: “Mixlab is disrupting the pet healthcare industry with its innovative technology platform and commitment to exceptional customer experience. The company’s customer service and retention metrics are exceptional. Mixlab has proven the value of their model and we are thrilled to be a part of their growth journey to become the most trusted healthcare brand for pet parents and veterinarians.”

About Vanterra Ventures

Vanterra Capital is a leading private equity investment firm that develops specialized fund platforms. Vanterra Capital formed Vanterra Ventures in 2018, a venture capital fund designed to capitalize on the substantial market opportunity in early-stage consumer and consumer technology while leveraging the team’s successful private equity track record. Vanterra Ventures invests in disruptive companies across consumer goods, digital health, and enabling technologies.

About Mixlab

Mixlab is the modern, best-in-class pet pharmacy that partners with veterinarians to make their jobs easier and deliver the highest level of care to pet parents. Mixlab is digitally transforming the veterinarian-led prescription medication process while delivering a superior customer experience for pet parents. Founded in 2017 by Vinnie Dam, Fred Dijols and Stella Kim, the team does everything that it takes to deliver the best personalized care to pets, in the fastest and most joyful way possible. Mixlab has financial backing from Global Founders Capital, Vanterra Ventures, Lakehouse Ventures, Sonoma Brands, Monogram Capital, Brand Foundry, and others. Read more about Mixlab at www.mixlab.com.

Contacts

Valerie Ying
Director of Marketing
valerie@mixlab.com

The urgency of the youth mental health crisis has been emphasized by U.S. Surgeon General Dr. Vivek Murthy, who referred to it as the most significant public health challenge of our era. Adolescents, especially those identifying as BIPOC, LGBTQ+, from low-income families, rural areas, homelessness, or immigrant households, are disproportionately affected. Daybreak Health is championing a transformative approach by delivering personalized mental health care within the school environment, where students spend the majority of their time. The company aims to ensure equitable access to high-quality, culturally competent, and affordable mental health services.

Daybreak is committed to partnering with our nation’s school districts to make mental health support accessible to all kids who need it,” said Daybreak Health CEO and Co-Founder Alex Alvarado. “We believe that every child, regardless of their background, should be able to access high-quality, personalized care that’s tailored to their specific needs so they can reach their full potential—in school and at home. Our program data shows that four out of five school counselors report noticeable improvements in student’s symptoms and 92% of families report behavioral improvements at home.

With partnerships in over 60 school districts nationwide, Daybreak Health bridges the care gap through proprietary, evidence-based teletherapy programs. These programs provide personalized support from experienced youth mental health clinicians, resulting in notable symptomatic and behavioral improvements.

To combat the critical shortage of mental health professionals in schools, Daybreak Health collaborates with districts to integrate teletherapy into their systems, augmenting mental health teams’ capabilities. The company also offers mental health classes for school staff and families, alongside tools for early identification of students who could benefit from support.

PEACHTREE CORNERS, Ga.–(BUSINESS WIRE)–#anemia–Sanguina, a leading biotech company focused on providing rapid home-based testing and management solutions, announced today the successful completion of its $2.8m Series A funding round. Led by Veritus Holdings, the round saw participation from notable investors, including George Hornig of The Seed Lab and Stephen Ippolito of Veritus Holdings. The funding will be used to accelerate the development and expansion of Sanguina’s innovative blood health management digital and at-home-based platforms.

Sanguina’s mission is to empower individuals by creating a platform of accessible tools for diagnosing, monitoring, and managing wellness and chronic conditions from the comfort of their own homes. Founded in 2019 as a spin-off from prestigious institutions such as the Georgia Institute of Technology, Emory University, Children’s Healthcare of Atlanta, and the Centers for Disease Control and Prevention (CDC), Sanguina has quickly made a mark in the biotech sector.

George Hornig and Stephen Ippolito of The Seed Lab and Veritus Holdings join Forbes 30u30 inventors and Sanguina co-founders Erika Tyburski and Rob Mannino, PhD, and world-renowned hematologist, Wilbur Lam, MD, PhD, on a Board with knowledge spanning decades in the healthcare, consumer behavior, consumer experience, and financial services industries.

Sanguina’s flagship product, the AnemoCheck app, is a digital health platform that estimates hemoglobin levels and aids users in managing anemia. In addition to the app, Sanguina boasts an FDA-cleared point-of-care test, which the company plans to expand for home use later this year. Anemia, characterized by low hemoglobin levels, affects over 1.6bn individuals each year and has always been a marker of both illness and wellness, as it coexists with many chronic diseases and can guide treatment regimens. In June, two large, independent peer-reviewed published studies featured in the Annals of Internal Medicine and Journal of the American Medical Association (JAMA) revealed that anemia is a chronic problem for very large categories of Americans, ranging from those taking daily aspirin to women and girls who have iron deficiency from a variety of conditions. Additionally, clinical hematologists reviewed several studies on anemia and reveal that chronic health inequity has caused many women and minorities to normalize their anemia.

With advancements in home testing and artificial intelligence, the management of anemia and other chronic conditions is moving towards preventive and personalized medicine. The Series A funding round will enable Sanguina to enhance its existing product suite with artificial intelligence and machine learning models, improving utility, performance, and accessibility. Furthermore, this funding will pave the way for the introduction of new biomarkers and indications, including home-based testing for circulation, dehydration, for management of other chronic diseases.

“We are thrilled to have secured this funding to further our mission of providing accessible tools for managing wellness and chronic conditions,” said Erika Tyburski, Co-founder and CEO of Sanguina. “This investment will enable us to enhance our technology and platforms, bringing us closer to our vision of becoming a leading provider of home-based testing solutions.”

With the successful launch of anemia management through the AnemoCheck app and point-of-care test, Sanguina has taken a major stride towards revolutionizing home-based testing and personalized disease management.

About Sanguina, Inc.

Sanguina, Inc. (Sanguina) is a leading biotech company focused on advancing accessible digital and at-home health platforms for rapid home-based testing and disease management. Founded in 2019, Sanguina aims to empower individuals by providing innovative solutions for diagnosing, monitoring, and managing wellness and chronic conditions. With a team of experienced scientists, engineers, and healthcare professionals, Sanguina is committed to positively impacting global healthcare. To learn more about Sanguina, please visit sanguina.com or on social media through Instagram, Facebook, Twitter, or LinkedIn.

Website: www.sanguina.com

Who is Sanguina video

Contacts

Jessica Tackett
Director of Marketing
jessy.tackett@sanguina.com

Additional funding will support advancement of KayoThera’s development programs in diabetes and oncology

SEATTLE–(BUSINESS WIRE)–KayoThera, Inc. (“KayoThera”), an early-stage therapeutics company developing first-in-class, oral, small molecule inhibitors of the retinoid pathway, today announces the strengthening of its financial resources through multiple grant awards and expansion of its previously announced Series A financing. The expanded financing was led by Accelerator Life Science Partners (ALSP), who also provided Series A funding for KayoThera. With the additional $5.2 million in new equity investments, non-dilutive grant funding, and initial seed funding from the New Jersey Health Foundation, KayoThera’s total financial support to date is $14 million.

KayoThera has received grant funding from the National Institutes of Health Small Business Innovation Research (SBIR) program^1,2 and the Andy Hill Cancer Research Endowment (CARE) Fund³. In addition, KayoThera secured additional Series A financing in an expansion round led by ALSP that also included participation from BioAdvance, Pier 70 Ventures, and WRF Capital. The additional resources secured by KayoThera will further support the Company’s therapeutic development programs.

“The grant awards are important validation of our development programs, and the expanded Series A financing reflects our investor’s confidence in our ability to innovate oral, small molecule inhibitors of the retinoid pathway,” said Mark Esposito, Ph.D., Vice President, R&D, and Co-Founder of KayoThera. “With the additional financial resources announced today, we are well-positioned to advance our lead diabetes and oncology programs, each of which has first-in-class potential in disease indications with large patient populations and significant unmet medical need.”

“Our belief that KayoThera offers a compelling investment opportunity and has the potential to transform the treatment of serious metabolic diseases and cancer was the key driver for our initial investment in the Company,” said Thong Q. Le, Senior Managing Director of ALSP and CEO of KayoThera. “Since the initial Series A financing in March 2022, KayoThera has made significant progress in advancing its core technology and development programs. The additional funding announced today will allow the Company to continue making exciting advances in innovating small molecule inhibitors of the retinoid pathway and position itself for strategic partnering activity that will further help realize the commercial and clinical value of its science.”

The retinoid pathway is known to play critical roles in several serious diseases. For example, the clinical use of retinoid activators leads to both adverse cardiometabolic events such as hyperlipidemias as well as increased cancer rates and faster cancer progression. KayoThera’s unique approach to drugging this pathway is based on biology discovered at Princeton University and represents the first platform to create drug-like retinoid inhibitors.

References

¹ NIH NIDDK (National Institute of Diabetes and Digestive and Kidney Diseases) R43DK136420. Grant title: Development of first-in-class antagonists of the retinoid pathway as novel oral therapies for Type 2 Diabetes.

² NIH NCI (National Cancer Institute) R43CA278127. Grant title: Development of first-in-class antagonists of the retinoid pathway as novel oral immunotherapies for solid cancers.

³ The Andy Hill Cancer Research Endowment (CARE) Fund FY23-LS-05. Grant title: Development of a First-in-Class Immunotherapy to Treat Advanced Solid Tumors Through IND-Enabling Safety Studies.

The content in this release is the sole responsibility of the authors and does not necessarily represent the official views or imply endorsement of the National Institutes of Health.

About KayoThera, Inc

KayoThera, Inc. is an early-stage therapeutics company focused on the development of first-in-class, oral, small molecule inhibitors of the retinoid pathway. This pathway plays a critical role in a variety of serious diseases, including cardiometabolic diseases and cancer. KayoThera is developing therapies to treat diabetes and late-stage and metastatic cancers including breast, lung, pancreatic, colorectal, brain, and kidney cancers. The company was founded based on discoveries from Dr. Mark Esposito’s post-doctoral research at Princeton University and professor Yibin Kang, Ph.D. For more information, visit www.kayothera.com.

About Accelerator Life Science Partners

Accelerator Life Science Partners is an early-stage life science accelerator and investment firm that creates and builds next generation biotechnology companies centered on innovative science. ALSP catalyzes the development and commercialization of breakthrough biotechnology innovations by providing a holistic toolkit and leveraging its network and entrepreneurial expertise to accelerate the establishment and operation of early-stage biotechnology companies. ALSP’s portfolio companies are backed by some of the world’s leading life science investors and are comprised of industry-leading, transformative companies, including Petra Pharma (acquired by a global pharmaceutical company), Rodeo Therapeutics (acquired by Amgen Inc.) and Lodo Therapeutics (acquired by Zymergen). For more information, please visit www.acceleratorlsp.com.

About Andy Hill Cancer Research Endowment (CARE) Fund

The Andy Hill Cancer Research Endowment (CARE) Fund invests in public and private entities to promote cancer research in Washington. Through research grants and strategic partnerships, the CARE Fund aims to improve health outcomes by advancing transformational research in the prevention and treatment of cancer. The Washington State Legislature created the CARE Fund in 2015 and this public investment in cancer research is maximized by private and nonstate matching funds. For additional information, please visit www.wacarefund.org.

About BioAdvance

BioAdvance is a $85 million early-stage life sciences fund with a focus in the mid-Atlantic region, investing up to $1.5 million initially and up to $5 million over the lifetime of companies that have the potential to improve human health. Since making its first investments in 2003, BioAdvance has committed more than $50 million in funding to approximately 100 organizations developing more than 160 products in the therapeutics, medtech, diagnostics, research tools and digital health sectors. BioAdvance portfolio companies have leveraged $3.7 billion in subsequent capital, including proceeds from acquisitions. Eleven products have received FDA approval. For more information, please visit www.bioadvance.com.

About Pier 70 Ventures

Pier 70 Ventures is a US-based venture capital firm investing in impact-driven innovation. The firm’s debut fund is the Pier 70 INpact Fund. Looking for brilliance beyond the usual places, Pier 70 Ventures finds and funds technologies with the potential to disrupt the future of healthcare. We invest in talented entrepreneurs pushing humanity forward with innovation. We VENTURE BOLDLY by empowering bright, enthusiastic leaders with capital, mentorship, and access to our global networks. For additional information, please visit www.pier70ventures.com.

About WRF and WRF Capital

Washington Research Foundation (WRF) supports research and scholarship in Washington state, with a focus on life sciences and enabling technologies. WRF was founded in 1981 to assist universities and other nonprofit research institutions in Washington with the commercialization and licensing of their technologies. WRF is one of the foremost technology transfer and grant-making organizations in the nation, having earned more than $445 million in licensing revenue for the University of Washington and providing over $145 million in grants to the state’s research institutions to date.

WRF Capital, the investment vehicle for Washington Research Foundation, has backed 122 local startups since 1996. Returns support the Foundation’s investment and grant-making programs.

For additional information, please visit www.wrfseattle.org.

Contacts

Jessica Burback
Email: jburback@acceleratorlsp.com
Phone: 206-957-7302

The senior debt facility will enable Amino to accelerate its growth plans, enhance its technology infrastructure, and expand its market reach. This injection of capital will also allow Amino to further strengthen its team and continue to attract top talent in the industry.

Amino, founded in 2013 by CEO David Vivero, has quickly emerged as a trailblazer in the digital health navigation space, revolutionizing the way people navigate the complex healthcare landscape. Amino’s platform harnesses data and award-winning design to intuitively guide members through their unique plan designs to high-quality, cost-effective providers and benefits for their specific care needs.

“We are delighted to support Amino in its mission to transform the healthcare navigation experience,” said Rohit Gandhi, senior director at Oxford. “Amino has demonstrated remarkable innovation and disruption in the digital health space, and we believe their platform has the potential to revolutionize the way individuals access and navigate healthcare services. This investment reflects our confidence in Amino’s leadership, vision, and ability to make a significant impact in the industry.”

“The investment from Oxford is a testament to the tremendous progress Amino has made and the potential we hold,” said David Vivero, chief executive officer at Amino. “We are grateful for Oxford’s support as we continue to build upon our mission of empowering individuals to make better healthcare decisions. With Oxford’s financial backing and expertise in the healthcare sector, we are well-positioned to drive even greater innovation and bring our platform to a broader audience.”

Partnering with health plans, third-party administrators, benefits administrators and concierge care vendors, Amino connects members to high-value providers and facilities at three times the rate of the baseline population, driving cost savings, increased member satisfaction, and improved health outcomes. As healthcare costs continue to rise, employers and their partners in the healthcare ecosystem are experimenting with a wide array of new benefits designs and pricing strategies like carve-outs, direct contracting, reference-based pricing, and more to contain costs. Each has immense potential, but only if plan members are empowered to navigate and leverage them. Amino’s configurable platform is uniquely positioned to support these models.

William Blair acted as the exclusive financial advisor to Amino Health in connection with its investment from Oxford Finance LLC.

About Oxford Finance LLC

Oxford Finance LLC is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to over 700 companies, allowing borrowers to maximize their equity by leveraging their assets. Since 2002, Oxford has originated more than $11 billion in loans. Oxford is headquartered in Alexandria, Virginia, with additional offices serving the greater San Diego, San Francisco, Boston and New York City metropolitan areas. For more information, visit https://oxfordfinance.com.

About Amino Health

Amino Health, the leading data-driven healthcare guidance platform, connects people with high-quality, cost-effective providers and benefits programs across the healthcare ecosystem. With more than 26B healthcare claims used to inform our actionable healthcare recommendations, Amino Health reduces wasteful claims spending, streamlines care routing, increases care quality, and improves care outcomes for plan sponsors and members. To learn more, visit amino.com.

About William Blair

William Blair is the premier global boutique with expertise in investment banking, investment management, and private wealth management. We provide advisory services, strategies, and solutions to meet our clients’ evolving needs. As an independent and employee-owned firm, together with our strategic partners, we operate in more than 20 offices worldwide.*

*Includes strategic partnerships with Allier Capital, BDA Partners, and Poalim Capital Markets.

Contacts

Amanda Stern
Oxford Finance LLC
703-519-4900 Tel
media@oxfordfinance.com

RH Strategic for Amino Health
aminoPR@rhstrategic.com

Financing

Proceeds from the $39 million financing will be used to expand the treatment of Fragility Fractures of the Pelvis (FFP) throughout the U.S. and fundamentally change the course of care for these patients through the nationwide launch of the CurvaFix® IM Implant.

“CurvaFix’s ability to benefit patients, physicians, and health systems, while simultaneously addressing the undertreated FFP segment makes CurvaFix a rare asset in the crowded world of orthopedics,” said Eric Fritz, MVM Partner. “We are thrilled to be involved and look forward to supporting the company’s next phase of growth.”

CEO Transition

Foster is an experienced C-Suite executive with a broad background in the healthcare, medical device, and pharmaceutical industries. Before joining CurvaFix, Foster was president and CEO of Trice Medical, a leader in the field of minimally invasive orthopedic procedures. Formerly he was V.P. of U.S. Sports Medicine Business for Smith and Nephew and also held leadership roles at Boston Scientific.

“I have had the opportunity to observe the successful implementation and adoption of CurvaFix IM Implants in the orthopedic pelvic fracture fixation market, for which Steve has played a pivotal role in taking the company to this point,” Foster said. “I am looking forward to leading the CurvaFix team in scaling CurvaFix’s technology to benefit many more patients, physicians, and payers.”

“It has been a privilege to lead CurvaFix from concept through commercialization to where it is today, and I am honored to pass off the reins to Mark for this next exciting phase of CurvaFix’s growth,” said Dimmer.

About MVM Partners

MVM has invested in high-growth healthcare businesses since 1997. With teams in Boston and London, MVM has a broad, global investment outlook spanning medical technology, pharmaceuticals, diagnostics, contract research and manufacturing, digital health, and other sectors of healthcare. More information can be found at www.mvm.com.

About CurvaFix, Inc.

CurvaFix, Inc. is a privately held medical device company headquartered in Bellevue, Wash. The company is developing implantable products to improve fracture repair in curved bones and is focusing on Fragility Fractures of the Pelvis (FFP), high-energy and low-impact trauma pelvic fractures. The CurvaFix IM Implant has received 510(k) clearance from the U.S. Food & Drug Administration (FDA).

Contacts

CurvaFix:
Amy Cook
Acook@curvafix.com

TORONTO & LAUSANNE, Switzerland & NEW YORK–(BUSINESS WIRE)–Altis Labs, Inc. (“Altis”), the computational imaging company accelerating clinical trials with artificial intelligence, today announces the closing of its US $6 million seed financing. Benchstrength and Debiopharm Innovation Fund co-led the round with participation from strategic angels including Doug Foster, the former CEO of digital health company Verana Health, and Richard Gliklich, MD, the founder and CEO of real-world data company OM1.

“We are thrilled to partner with Benchstrength and Debiopharm,” said Felix Baldauf-Lenschen, Co-Founder and CEO of Altis. “This partnership will help us execute on our mission to reduce the excessive time and cost it takes to bring novel, effective treatments to patients in need.”

Medical imaging accounts for 90% of all healthcare data. Altis was founded with the belief that imaging is the richest source of clinical data but is vastly underutilized. Reductionist interpretation guidelines developed over 40 years ago are known to over- and underestimate clinical benefit [1, 2, 3], thereby limiting clinicians’ ability to measure how well cancer treatments work.

Trained on the world’s largest proprietary cancer imaging database with longitudinal clinical context, the company’s state-of-the-art deep learning models predict clinical endpoints to help quantify treatment effect beyond simplistic and subjective tumor size measurements.

Funding will be used to scale the development of Nota, Altis’ AI-powered imaging biomarker platform, across solid tumor types and therapeutic areas. Leading biopharma companies like Bayer Pharmaceuticals use Nota to analyze imaging data from phase 1-3 clinical trials in a more meaningful way.

“In R&D, imaging is a core component of what we do in clinical trials and current methods don’t exploit its full potential,” said Carolina Haefliger, MD, Head of Translational Medicine at Debiopharm and Board Observer at Altis. “We believe that AI-powered tools, such as those developed by Altis, will become the new standard for measuring clinical benefit not just in clinical trials, but also in clinical care.”

Altis hosts proprietary prognostic models in the Nota cloud platform for biopharma R&D teams to automatically analyze clinical trial imaging data. Model predictions allow researchers to more accurately stratify patients at baseline and measure treatment effect across subpopulations. These insights help sponsors generate higher quality evidence earlier in clinical development to increase success rates in late-stage trials and inform critical R&D decisions spanning go/no-go, trial design, reimbursement strategy, and revivals of shelved assets.

“It’s clear that AI will have a significant impact across healthcare, but Altis is uniquely positioned to transform the economics of clinical development,” said Kenneth Chenault, Managing Partner at Benchstrength and Board Director at Altis. “The Altis team has curated an unparalleled clinical imaging database in terms of both depth and breadth, which they are translating into actionable clinical insight thanks to their AI models.”

“This milestone for Altis is a testament to Canada’s leading role in both AI and clinical research” said Sally Daub, Co-Founder and Board Chair at Altis. “Our goal is to accelerate therapeutic development and improve the standard of care.”

Altis’ imaging-based prognostication (IPRO) technology has been validated in collaboration with Canada’s leading cancer centers, with results published in the Journal of Clinical Oncology – Clinical Cancer Informatics [4] and presented at the American Society of Clinical Oncology [5, 6].

About Altis Labs

Altis Labs is the computational imaging company advancing precision medicine. We believe that medical imaging is the richest source of untapped clinical insight. Biopharma companies use our software platform, Nota, to accelerate and de-risk all stages of clinical development. Trained on over 182 million real-world images with associated diagnostics, treatment information, and outcomes, Nota predicts clinically meaningful outcomes from baseline and follow-up scans to more accurately stratify patients and quantify treatment effect. Altis is proudly based in Toronto, Canada.

To learn more, visit altislabs.com or email info@altislabs.com.

About Benchstrength

Benchstrength is an early stage venture capital firm focused on investing in technology companies that transform business and uplift communities. Based in NYC, Benchstrength invests in software and technology-enabled businesses across enterprise, consumer, fintech, and healthcare. The firm is committed to building, cultivating, and re-architecting networks in a way that expands access to opportunity and builds a more diverse, equitable, and inclusive entrepreneurial ecosystem.

Debiopharm Innovation Fund

Debiopharm Innovation Fund, the strategic investment arm of Swiss biopharmaceutical company Debiopharm, provides funding and guidance for companies with an ambition to improve the patient journey and transform pharmaceutical R&D. Since 2017 Debiopharm has invested in 20 AI and digital health companies, typically leading the investment rounds.

For more information, please visit www.debiopharm.com/digital-health/

References

For more information, please visit www.debiopharm.com/digital-health/

Contacts

Contact Debiopharm
Dawn Bonine
Head of Communications
dawn.bonine@debiopharm.com
Tél. : +41 (0)21 321 01 11

— Enhanced financial resources and expertise will further Turbine’s interpretable simulation research and maximize the potential of its Simulated Cell platform

— Turbine’s proprietary approach pairs simulation with machine learning to yield actionable insights that can transform cancer drug discovery and development

LONDON & BUDAPEST, Hungary–(BUSINESS WIRE)–Turbine, a company that uses cell simulations to guide biopharma R&D and bring the right drug to every patient in need, has successfully added €5.5 million from MassMutual Ventures (MMV) to its recently closed Series A financing round. This investment brings the company’s oversubscribed Series A round to €25.5 million and adds further U.S.-based investors to the company’s financing syndicate. Alongside the funding, Turbine announced the appointments of four independent directors to its board.

Today’s milestones add to Turbine’s recent momentum, which has included building cutting-edge lab facilities in Budapest and entering a significant collaboration with Cancer Research Horizons. The latest funding will be used to advance Turbine’s internal pipeline of simulation-guided programs, while scaling its biology simulation platform to support additional partnerships.

“Turbine’s platform overcomes the limitations of traditional drug discovery approaches by combining cell simulation and machine learning to uncover novel cancer therapies and the patients most likely to benefit from them,” said Anvesh Ramineni, Managing Partner at MMV. “We believe Turbine’s unique approach has tremendous potential to guide biopharma R&D in a new direction using actionable insights gathered from deep expertise in the simulation of biological mechanisms – we look forward to working with Turbine to help unlock its full potential.”

Turbine’s simulations can represent patient populations that existing biological models cannot. They also have the capacity to perform assays that would be impractical to conduct at scale and with high throughput. A proprietary closed-loop learning process validates promising hypotheses in Turbine’s in vitro and in vivo assays, leading to a constantly evolving model of cancer biology.

The result is an innovation engine that continues to reveal novel targets, biomarkers and drug combinations that have been experimentally validated and are often missed by existing methods such as CRISPR. Clinically, these targets have been associated with patient populations with high unmet need.

Supported by companies such as Bayer and MSD (Merck & Co., Inc., Rahway NJ, USA), Turbine has multiple in vivo validated novel assets in its proprietary and partnered pipeline.

“The support of MassMutual Ventures, a leading global investor with close ties to the U.S. market, and the enthusiasm of the experts who have joined our board validate Turbine’s potential,” said Szabolcs Nagy, Chief Executive Officer and Co-Founder of Turbine. “These individuals have personally built leading technology platforms supercharging drug development globally. Their buy-in shows that our platform is differentiated and poised to unlock truly novel therapies for currently underserved patient populations through efficient, simulation-guided development. With the additional funding and board appointments, we are set to accelerate the validation of our approach by advancing multiple programs and partnerships toward the ultimate test of any biopharma technology platform – human clinical trials.”

The four newly appointed independent directors are:

• Milind Kamkolkar, COO of Paradigm, a healthcare technology company focused on improving access to clinical research for patients. Previously, Mr. Kamkolkar was an early employee and Chief Data Officer of Cellarity, an integrated drug discovery multi-therapeutic company with a novel approach to drug discovery leveraging single cell data, machine learning and experimental biology. Earlier in his career, Mr. Kamkolkar served in enterprise data science, digital & AI leadership roles at Sanofi and Novartis. Milind believes Turbine’s team and approach is highly complementary to current drug discovery efforts to understand disease biology.
• Jane Rhodes, Ph.D., M.B.A., Chief Business Officer at Verge Genomics, a clinical stage AI-enabled drug discovery and development company. Dr. Rhodes brings more than 25 years of drug discovery, company building and strategic leadership in the biotech industry, including 18 years at Biogen. Based on her work in the digital health space, she co-founded Qr8 Health, a software development company pioneering the development of clinically validated patient assessment tools. Dr. Rhodes currently serves as Executive Chair of the Board at Pheno Therapeutics. She is passionate about the intersection of life science and technology and was drawn to Turbine for its distinction as a life sciences disruptor founded outside of the United States.
• Dr. Bernd Seizinger, M.D., Ph.D., has been a senior executive/CEO, as well as a chairman, board member, and entrepreneur in multiple public and private biotech and pharma companies in the U.S. and Europe. He is currently on the board of directors of seven U.S. and European biotech companies, mostly in oncology, and he also serves on advisory boards of two biotech venture capital funds. Previously, Dr. Seizinger served as President and CEO of GPC Biotech, as Vice President of Oncology Drug Discovery at Bristol Myers Squibb (where, in parallel, he also served as Vice President of Corporate and Academic Alliances), and as Executive Vice President and Chief Scientific Officer at Genome Therapeutics. Prior to his corporate appointments, he held professorships/senior faculty positions at Harvard Medical School, Massachusetts General Hospital, and Princeton University. Dr. Seizinger believes the systematic application of AI, particularly as driven by highly innovative and nimble companies such as Turbine, has potential to add value to the entire pharmaceutical value chain.
• Lars Staal Wegner, M.D., Partner at Bristlecone Pacific, a venture capital firm that invests in evidence-based solutions to extend healthy human lifespan. As chairperson of Turbine’s board, Dr. Wegner draws on his deep experience in artificial intelligence and biotechnology finance, business development, and research. He has helped build numerous companies within the biotech, diagnostics, and IT spaces, and sits on multiple boards. Earlier in his career, Dr. Wegner served as CEO of Evaxion Biotech, which develops AI-powered immunotherapies, and in roles of increasing responsibility at Bavarian Nordic A/S, including as Vice President Commercial Affairs, during which time he contributed to the development of the company’s ebola vaccine. Dr. Wegner believes Turbine’s pairing of AI with advanced biotechnology gives it potential to powerfully impact the future of healthcare.

About MassMutual Ventures

MassMutual Ventures (MMV) is a multistage global venture capital firm investing in financial technology, enterprise SaaS, climate technology, healthtech, and cybersecurity. With teams based in Boston, Singapore, and London, MMV manages over $1 billion in investment capital across the globe. We help accelerate the growth of the companies we partner with by providing capital, connections and advice. With our deep expertise and extensive Fortune 500 network, MMV helps entrepreneurs build compelling and scalable companies of value. For more information, visit www.massmutualventures.com.

About Turbine AI

Based in London, UK, with offices in Budapest, Hungary and Cambridge, UK, Turbine was founded in 2015 by Kristof Szalay, Ph.D., Daniel Veres, M.D., Ph.D., Szabolcs Nagy and Ivan Fekete, M.D. The team’s vision is to overcome the current limitations in identifying oncology treatments with true patient benefit by combining molecular biology and interpretable machine learning. Turbine’s latest investment round (Series A) was closed in 2022, co-led by MSD (Merck & Co., Inc., Rahway NJ, USA) Global Health Innovation Fund (GHIF) and Mercia Asset Management, who were joined by both new and existing investors Delin Ventures, Day One Capital, Accel, Atlantic Labs, XTX Ventures, o2h Ventures and Boston Millenia Partners.

Turbine engineers a cell simulation platform to reflect patient populations that current biological models do not and simulates assays unfeasible to run at scale. A closed learning loop validates promising simulations through proprietary in vitro and in vivo assays, leading to a model of cancer biology with the ability to evolve alongside any augmented pipeline. Turbine’s end-to-end in silico guidance can improve the likelihood of success for truly novel therapies and allow existing assets to be optimally targeted at the best responder patients. The Simulated Cell platform has already revealed multiple novel targets, biomarkers and drug combinations that target high unmet need patient populations missed by existing methods like CRISPR.

Supported by companies like Bayer and MSD GHIF, Turbine has multiple in vivo validated assets in its proprietary and partnered pipeline with Cancer Research Horizons and multiple top pharma companies.

Turbine is leveraging its platform to develop a stream of programs pursuing high unmet oncology need, expanding from an early focus on overcoming resistance to DNA Damage Response (DDR) inhibitors. Turbine is open to collaborate on extending its pipeline to various modalities and cancer mechanisms. For more information, visit www.turbine.ai or follow Turbine on LinkedIn.

Contacts

Corporate Inquiries:
Tamas Torok
Turbine
tamas.torok@turbine.ai
+36 30 633 7154

Media Inquiries:
Hal Mackins
Torch Communications
hal@torchcomllc.com
+1 415-994-0040