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  • Clinton Pinto posted an article
    b.well Connected Health has secured $32 million in an oversubscribed Series B financing round. see more

    BALTIMORE, July 21, 2021-- b.well Connected Health, the digital transformation platform providing consumers a new front end to health care, today announced it has secured $32 million in an over-subscribed Series B financing round.

    Screenshots of the three most popular features of b.well: Search, Health Circle and My Health.

    The funding will be used to increase market penetration and advance product innovations that help customers achieve their digital transformation goals and expand visibility into the populations they manage. The funding round follows a strong year of growth in 2020-21, which saw the business increase by 2x as more organizations implemented the b.well platform to connect with their patients, employees and communities.

    The capital raise was led by HLM Venture Partners (HLM), and Steven Tolle, General Partner at HLM, has joined b.well's board of directors. Existing investors ThedaCareUnityPoint Health Ventures, and Well Ventures–a subsidiary of Walgreens Boots Alliance, Inc.–also joined the round.

    "Our digital transformation platform is helping healthcare organizations and self-insured employers deliver an unparalleled and personalized health care journey for their patients, members and employees," said Kristen Valdes, CEO and Founder of b.well. "Consumers have grown accustomed to technology that makes banking, travel and shopping simpler and more convenient. Now more than ever they're demanding the same convenience when it comes to managing their health and that of their loved ones. We thank our investors for their strong support of our vision for creating simple, connected, and personalized health care journeys."

    b.well's customers use the company's digital transformation platform to provide their patients, health plan members, and employees with the most informed and simple pathway to access care and improve their health. That in turn helps organizations to manage their population health initiatives including Medicare Advantage risk-based contracts, Direct Contracting, and Accountable Care Organizations. To drive better outcomes, customers can deploy incentive programs through the b.well app without the need for costly care management programs. 

    End users access b.well on their phone or PC to gain access to all of their health data from virtually any source—providers, insurers, labs, pharmacies, wearables, devices and apps—and to receive truly personalized, proactive health guidance, as well as navigation to care in-person or virtually.

    "In the wake of the pandemic and the rise of virtual health, every health system in the country should rethink how they engage with their community and patients, especially in competitive markets," said Tolle. "HLM looks for investments like b.well that have proven early stage adoption and strong leadership. They have already achieved significant scale with adoption by several name-brand health systems as well as large self-insured employers, plus the company is led by an impressive team of industry veterans, and is poised for substantial growth in the coming year."

    About b.well Connected Health
    b.well Connected Health is a healthcare technology company providing platform services comprised of five core capabilities that work together to enable health systems, payers, and employers with a configurable and personalized digital health experience for their populations. The b.well technology platform is transforming how consumers interact with the healthcare system by integrating data, insights, and partners into a single customized solution that helps people take control of their healthcare experience. Visit www.icanbwell.com for more information.   

  • Clinton Pinto posted an article
    Novel Treatment For Breast Cancer Shows Progress see more

    REDMOND, WA, June 03, 2021 – Pattern Computer® Inc. is pleased to announce that the recently completed testing of a novel and newly developed candidate treatment for triple negative breast cancers has shown statistically significant positive results.

    The Pattern Computer team has developed a unique process in computational biology for discovering the genetic causes of a range of cancers, and is using this system to design new treatment regimens comprised of known drugs and therapies. The Pattern Discovery Engine™ (PDE) from PCI enables high- performance, distributed, heterogeneous computing, and exponential increases in complexity of analyzing multiple gene-level interactions and conditions that lead to a wide range of cancers.

    A prime objective of this Pattern Computer project is to discover the complex origin conditions and drivers behind the genesis of triple-negative breast cancers (TNBC). If successful, this could allow the discovery of effective treatments that could in turn be quickly and safely brought to clinical testing, and to the market. This subclass of breast cancer was chosen for its current dearth of targeted treatments. The ultimate goal of the PCI team is to reduce costs of treatments, increase the number of people who can be treated, to improve the standard of care, and to save lives.

    “Using off-the shelf, FDA-approved drugs dramatically decreases the cost and time to market of our solutions. National Lab testing has already validated that the drug cocktails we have designed address the interactive nature of the gene pathways we are seeing; in vitro, we can kill TNBC cells with little or no harm to healthy cells. The current report on our first cocktail candidate indicates that these drugs can work effectively together in select doses in mice. This type of approach may provide a major step forward in addressing a number of the devastating diseases afflicting people today,” said Mark R. Anderson, CEO of Pattern Computer.

    The Pattern Computer team discovered a large new constellation of genes correlated with the breast cancers being studied, using PCI’s PDE. The team then leveraged the PDE to analytically design 17 different new candidate cocktail treatments. Initial testing was done in organoids at Lawrence Berkeley National Laboratory, winnowing the candidates list to two cocktails. The process was then moved to a world class private laboratory, where statistically significant positive results were achieved in animal tests.

    “Pattern has developed a new methodology for discovering and exploiting important pathways in tumors to design novel, precisely targeted therapeutic cocktails. Making use of published datasets in conjunction with a proprietary knowledgebase on approved drugs, Pattern has identified combination therapies that, in preclinical trials, have shown efficacy against models of recalcitrant tumor types, and have demonstrated remarkable safety profiles. Pattern’s innovative and unique approach to AI-driven computational biology stands to significantly reduce the time to market of novel cancer therapies, to improve the quality of life relative to chemotherapeutic treatments, and, ultimately, to save lives,” said Prof. J. Ben Brown (UC Berkeley & Lawrence Berkeley National Laboratory).

    The testing process will continue, evaluating the safety and efficacy of this new treatment at varying dosage amounts and durations. A second, different PDE-derived cocktail for the same disease is still in animal testing.

    PCI is currently using the PDE to obtain results in breast, prostate, ovarian, lung, and colorectal cancers, with other diseases in process. One of the primary goals of the Pattern Computer team is to reduce the time and high costs required to analyze the origin conditions that allow the growth of cancers, and then to develop novel treatment options in days or weeks, rather than in years. The world has recently seen impressive reductions in time to market for life-saving vaccines, and PCI is driving this same type of step change in applying new computing and analytical techniques to solving some of the most vexing problems in the areas of genetic oncology.

    The foregoing contains statements about the Pattern Computer’s future that are not statements of historical fact. These statements are “forward looking statements” for purposes of applicable securities laws, and are based on current information and/or management’s good faith belief as to future events. The words “believe,” “expect,” “anticipate,” “project,” “should,” “could,” “will,” and similar expressions signify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance. By their nature, forward-looking statements involve inherent risk and uncertainties, which change over time, and actual performance could differ materially from that anticipated by any forward-looking statements. Pattern Computer undertakes no obligation to update or revise any forward-looking statement.  

    About Pattern Computer

    Pattern Computer, a Seattle-area startup, uses its proprietary Pattern Discovery Engine to solve the most important and most intractable problems in business and medicine. Its proprietary mathematical techniques can find complex patterns in very-high-order data that have eluded detection by much larger systems.

    While the company is currently applying its computational platform to the challenging field of drug discovery, it is also making pattern discoveries for partners in several other sectors, including additional biomedical research, materials science, aerospace manufacturing, veterinary medicine, air traffic operations, and finance.

    For more information on Pattern Computer Inc., visit: https://www.patterncomputer.com

    For more information about Mark Anderson, visit: https://www.patterncomputer.com/founders/

    Credit: https://www.patterncomputer.com/news/novel-treatment-for-breast-cancer-shows-progress/

  • Clinton Pinto posted an article
    NUFABRX (Textile Based Delivery Inc.) Ranks No. 50 on the 2021 Inc. 5000 see more

     Inc. Magazine Reveals Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000 

    NEW YORK, August 17, 2021 – Inc. magazine today revealed that NUFABRX  (Textile Based Delivery Inc.) is No. 50 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.

    “It’s an unbelievable honor to be recognized by the Inc. 5000 as one of the fastest-growing companies in the nation!” said Jordan Schindler, CEO of Nufabrx. “Nufabrx’s growth is a true testament to our incredible team and their remarkable vision. When the idea of putting medicine in clothing was just a dream in my dorm room, I never imagined we would get to this point so quickly. We will celebrate this win with plenty of champagne as a company; and deep down we know this is just the beginning. Onwards and Upwards!”

    Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.

    Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc., which will be available on newsstands on August 20.

    “The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”

    More about Inc. and the Inc. 5000

    Methodology

    Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2020 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to three decimal places. There was one tie on this year’s Inc. 5000.  Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.

    About Inc. Media

    The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including web sites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Vision Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

    For more information on the Inc. 5000 Vision Conference, visit http://conference.inc.com/.

    About Nufabrx

    Simplifying health and wellness through clothing. Nufabrx is an innovative technology company focused on controlled delivery of an active ingredient (vitamin, supplement, medication) through clothing; effective delivery lasts through 25+ wash cycles. We currently offer pain relief medicine delivered directly through a compression brace and are developing stretch mark reduction cream delivered through a maternity line of products. Patient compliance has been reimagined simply by getting dressed in the morning; A new category we call HealthWear. Every Nufabrx product is manufactured and tested here in our North Carolina facilities, #MadeInUSA. For more information, visit http://www.nufabrx.com. We have Omnichannel retail partnerships with most major retailers, such as Walmart and Target, where a variety of our products can be purchased either in-store or directly from their online stores.

  • Clinton Pinto posted an article
    Kineta Inc, has received a patent for Modifications and Uses of Conotoxin Peptides from the USPTO see more

    Seattle, WA -- (August 10, 2021) Kineta Inc, through its subsidiary Kineta Chronic Pain LLC, announced today that the company has received Patent No. 11,014,970 for Modifications and Uses of Conotoxin Peptides from the U.S. Patent and Trademark Office (“USPTO”) related to KCP506, the company’s novel non-opioid therapy in development to treat chronic neuropathic pain. Among other claims, the patent covers the composition of matter of KCP506.

    “The allowance of this patent in the U.S. substantially strengthens our intellectual property position, an important milestone for KCP506’s development and potential commercialization,” said Kineta Eric Tarcha, PhD., EVP Research and Development at Kineta. “With a significant need for an effective therapy to treat chronic neuropathic pain, KCP506 has the potential to provide a non-opioid treatment option with a novel drug mechanism relative to conventional pain therapies.”

    A Notice of Allowance is issued after the USPTO makes a determination that a patent should be granted from an application. The patent will have a term that expires no earlier than 2035.

     

    KCP506 may potentially be an effective treatment for many types of chronic neuropathic pain including radiculopathy, chemotherapy-induced peripheral neuropathy, and diabetic neuropathy. The global neuropathic pain market was $6.3 billion in 2019 and is expected to reach to $9.9 billion by 2027.

  • Clinton Pinto posted an article
    The company also announced the conversion to equity of $5.2M in previously outstanding notes see more

    SEATTLE, May 13, 2021 -- Healionics Corporation, a private medical device company, announced today the completion of a $4.7M equity financing round led by Keiretsu Capital. The company also announced the conversion to equity of $5.2M in previously outstanding notes and interest.

    Healionics is preparing to commercialize its innovative STARgraft vascular graft, designed to provide a safer and more reliable means to access the bloodstream for dialysis in patients with kidney failure.  An initial human study was completed last year, and a follow-on human study is now in progress.  The financing will be used to complete this study and obtain FDA market clearance.

    "We appreciate the strong support in this round by existing shareholders and welcome the participation by several new angel and venture investor groups," said Mike Connolly, Chief Executive Officer of Healionics.  "We are targeting early next year for commercial launch of STARgraft.  This novel synthetic blood vessel, based on our proprietary STAR biomaterial technology, has the potential to improve the lives of dialysis patients by reducing the frequency & severity of infections and the frequency of interventions required to maintain dialysis access."

    About Vascular Grafts
    More than 500,000 people in the United States suffer from kidney failure and require frequent dialysis to filter waste from their blood.  Current methods of creating and maintaining regular bloodstream access for dialysis are unreliable and account for a significant portion of the $50 billion spent each year on U.S. kidney-failure patients.  A vascular graft (synthetic blood vessel) is often implanted to create an access site with a sufficient flow rate for dialysis, but conventional grafts can develop life-threatening infections and frequently develop blockages that require expensive interventions.

    About Healionics Corporation
    Healionics is a clinical-stage company addressing the critical need for safer, more reliable means to access the bloodstream for dialysis in patients with kidney failure.  Its STARgraft vascular graft is designed to resist the problems of infection and occlusion suffered by current devices.  The company also has an exciting product pipeline based on its platform STAR® biomaterial, which has a unique ability to resist both infection and scarring, two problems that affect all implanted devices.  www.healionics.com

    SOURCE Healionics Corporation

  • Clinton Pinto posted an article
    Sparrow Pharmaceuticals confirmed it closed a $50 million financing round. see more

    Sparrow Pharmaceuticals confirmed it closed a $50 million financing round, one of the state's largest such rounds of the year. The firm had not formally announced the round when the Business Journal uncovered it when tracking 2021's hefty first quarter of fundraising.

    It also revealed it hired Robert Jacks as the company’s new CEO.

    Sparrow is developing novel, targeted therapies for disorders caused by excess corticosteroids, which can be produced by the body or administered in medicine for autoimmune or inflammatory disease.

    About 2 million patients in the U.S. are on corticosteroids, such as prednisone, which come with serious side effects, including fractures, diabetes, stroke and glaucoma, David Katz, Sparrow’s founder and CEO, has said. The company’s drug candidate could potentially separate the efficacy of steroid medications from those severe side effects, Jacks said.

    The company will use the financing to speed the development of its drug candidate, which targets the source of steroids that cause toxicity in key tissues. Sparrow anticipates starting Phase 2 trials in patients with a form of Cushing syndrome in the next 12 months.

    OrbiMed led the investment round with participation by RiverVest Venture Partners and U.S. Venture Partners.

    Katz lives in Portland and serves as chief scientific officer. Jacks, who lives in Connecticut, comes to Sparrow after 20 years in the pharmaceutical industry, including corporate and business development work for Pfizer.

    In 2019, Sparrow won the Oregon Bioscience Association’s Pitch Fest.

     

    Credit: https://www.bizjournals.com/portland/news/2021/05/18/portland-biotech-startup-raises-50m-hires-new-ceo.html