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  • sam patrick posted an article
    Company provides organ preservation solutions to the U.S. and Canadian markets see more

    South Carolina Research Authority (SCRA), announces the successful graduation of SC Launch Inc. Portfolio Company, Global Transplant Solutions Inc. This exit yielded financial returns for the continued support of additional technology-based startups in South Carolina.

    The Spartanburg-based company makes products that enable the safe collection, preservation, and transport of human organs for transplantation. They supply a complete portfolio of organ preservation solutions to the U.S. and Canadian markets and are currently the market leader in the U.S.

    L to R: Steve Johnson, Tim Bruce, Leanne Burkhead, and John Bruens 

    Global Transplant Solutions became an SCRA Member Company in 2017 and received a $17,000 Project Development Fund Grant the same year. They became an SC Launch Inc. Portfolio Company in 2018 when they received their first investment of $200,000 and $150,000 later that year. They also received a $75,000 emergency loan during the SC Launch Inc.’s funding round to companies providing COVID-19 solutions.

    “The success of Global Transplant Solutions is a result of their strong business plan and customer base. They built the company from the ground up with a clear understanding of their business goals and how they fit into the organ transplant marketplace,” said SCRA Executive Director Bob Quinn. “They are also nimble and able to respond to needs in the market as they arise. During the height of the pandemic when medical centers could not accept their solutions because they were being transported by FedEx and UPS, the company used our financial support to lease their own fleet of vehicles to directly deliver solutions to transplant centers. This action resulted in them gaining an increased market share, hiring more staff, and moving to a larger facility. This is growth for our state’s economy, and more importantly, a benefit for patients waiting for organ transplants.”

    “I have enjoyed working with John Bruens, Tim Bruce, Leanne Burkhead, and the entire Global Transplant Solutions team. Every step of the way, they showed exemplary business acumen in their operations. They’re truly dedicated to the organ and procurement transplant market, with every employee being a registered organ donor and their mission as the basis for all operations,” said Steve Johnson, SCRA Investment Manager. “2021 was a record year for organ transplants in the U.S., surpassing 40,000 for the first time ever. This could not have been possible without their products and commitment. We are proud to see them move from being an early-stage startup to now an SC Launch Inc. Graduate Company.”

    “Our overriding focus at Global Transplant Solutions is providing the highest quality products to the life-saving community. We ensure every unit we produce goes through a rigorous quality control and quality assurance process and meets the standards required by organ procurement and transplant professionals. SCRA and SC Launch Inc. have been trusted partners to us along the way and we wouldn’t be where we are today without them,” said John Bruens, Global Transplant Solutions CEO.

    Visit Global Transplant Solutions to learn more their dedication to organ donations and transplants.

  • sam patrick posted an article
    Zylo lcoses on $5.2 million Series B round see more

    Zylö Therapeutics has secured funding to advance its Z-pod topical delivery particles, putting together a $5.2 million series B round to support work on a technology with applications in erectile dysfunction and cutaneous lupus.

    South Carolina-based Zylö is built on technology called Z-pods, engineered amorphous silica particles designed to encapsulate compounds. Through encapsulation, the company aims to extend the release of the payload, enable targeted delivery, enhance dissolution and otherwise improve the administration of compounds with a range of physicochemical properties. 

    The potential of the technology has attracted investors including VentureSouth, which contributed more than $1.3 million to the series B, the New York Angels, SC Launch, the Boston Harbor Angels and the Cowtown Angels.

    That mix of new and existing investors came together to pump $5.2 million into Zylö, adding to the $4 million series A round that the company raised in 2019. Zylö issued the series B shares at $0.50, up close to 50% on the series A price. 

    Armed with the money, Zylö will complete internal research projects, further scale up the manufacturing process for Z-pod and fully implement ISO-9001 and cGMP quality systems. The funding also gives the company a financial cushion as it enters a potentially tricky period for VC-backed startups. 

    “The series B funds will extend our runway and hedge against the risk of a recession over the next two years, while simultaneously financing investments that will accelerate growth,” Charles Hinkle, chief financial officer at Zylö, said in a statement. 

    Zylö is applying its technology to erectile dysfunction and cutaneous lupus, an indication in which it has assessed the ability of Z-pods to improve the bioavailability of the endocannabinoid AEA. The company teased upcoming news about “prospective partners that are conducting human studies to demonstrate Zylö’s technology can help combat aging, hyperpigmentation, acne and diabetic foot ulcers.”

  • sam patrick posted an article
    GlycoPath joins other life science organizations in SCRA portfolio of companies see more

    Compliments of Charleston Regional Business Journal

    Glycopath has become the latest S.C. Research Authority member company.

    All SCRA member companies receive coaching, access to experts in SCRA’s Resource Partner Network, eligibility to apply for grant funding, and the potential to be considered for an investment from SCRA’s investment affiliate, SC Launch Inc.

    Glycopath Inc. received a $50,000 federal matching grant, the release said. The Charleston-based startup is working to improve biomarker research by streamlining methods with proven clinical impact and simplifying assays to improve patient care and treatment.

    Grant funding is made possible in part by the Industry Partnership Fund contributions. Contributors to the IPF receive a dollar-for-dollar state tax credit.

    Chartered in 1983 by the state as a public, nonprofit corporation, S.C. Research Authority is intended to fuel South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance translational research and accelerate the growth of university-based startups. SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. SC Industry Solutions facilitates and funds partnerships between and among startups, industry and academia. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch Inc.

  • sam patrick posted an article
    Part of a $10 million funding round recently closed by company see more

    Compliments of The Business Narrative

    South Carolina Research Authority (SCRA’s) investment affiliate, SC Launch Inc., has invested in Elastrin Therapeutics Inc.

    The $300,000 investment will help the company advance the development of therapeutics that reverse damaged tissue making it supple again, SCRA officials said.

    The Simpsonville-based biotech startup developed this technology, which restores hardened or damaged arteries and tissues by targeting the elastic fiber and removing the calcification that causes stiffening. Initial applications include reducing hardened arteries, de-calcifying heart valves, and treating diabetes and COPD.

    Elastrin became an SCRA Member Company in 2018 and received a $25,000 Academic Startup Grant. It also received a $50,000 Federal Matching Grant in 2019.

    Elastrin became an SC Launch Inc. Portfolio Company in 2022 when it received this first investment of $300,000. It also received a $50,000 grant during SCRA’s pandemic funding round for startups providing Covid-19 solutions.

    Elastrin recently closed a $10 million funding round, which included this investment.

    It also recently announced the formation of its scientific advisory board, comprised of leading industry and university experts in cardiovascular research and clinical development.

  • sam patrick posted an article
    Funding used to boost development and start clinical trials in humans in 2023 see more

    Elastrin Therapeutics Inc., a privately held biotechnology company leveraging a platform to develop therapeutics that render calcified tissue and organs supple again, today announced the closing of a $10 million funding round led by Kizoo Technology Capital, a leading early-stage investor in breakthrough rejuvenation technologies. Other investors in the round include Starbloom Capital and SC Launch. Elastrin Therapeutics was founded in 2018 as a spinout from Clemson University where the technology was first developed over a 20-year period. The company’s lead asset ELT-001 is an EDTA-loaded nanoparticle conjugated with a proprietary monoclonal antibody for the treatment of vascular calcification.

    Frank Schueler, Managing Director of Kizoo Technology Capital, explains: “We´re excited to lead the round for Elastrin. We have been impressed by what the small team accomplished in a short period of time, and we look forward to seeing the company grow and help millions of people. Their technology is truly groundbreaking by not only delaying age-related disease but also reversing them.”

    “This is another incredible milestone for our company. It´s fantastic to have the support of our strong investors as we look to growing the company and scaling the technology,” said Matthias Breugelmans, CEO of Elastrin Therapeutics. “We want to save lives, and the capital, network, and knowledge that our investors bring to Elastrin Therapeutics is a true asset to enable us doing so at record pace.”

    “We are proud to see the company grow and to be part of its journey with this revolutionary technology platform, truly making an impact for healthy living by repairing significant damage of aging,” commented Patrick Burgermeister, Partner at Kizoo Technology Capital and member of Elastrin Therapeutic´s Board of Directors.

     

    About KIZOO 
    Kizoo provides seed and follow-on financing with a focus on rejuvenation biotech. Having been entrepreneurs, VC, and mentors in both high-growth tech and biotech companies for many years - with multiple exits and massive value created for the founders - Kizoo now brings this experience to the emerging field of rejuvenation biotech. We see it as a young industry that will eventually outgrow today's largest technology markets.

    As part of Michael Greve's Forever Healthy Group, Kizoo directly supports the creation of startups turning research on the root causes of aging into therapies and services for human application. Investments include Cellvie, Underdog, Revel Pharmaceuticals, Elastrin Therapeutics, and others.

    Forever Healthy's other initiatives include the evaluation of new rejuvenation therapies, evidenced-based curation of the world's cutting-edge medical knowledge, funding research projects on the root causes of aging, and hosting the annual Undoing Aging Conference.

    For more information, please visit: www.kizoo.com and www.forever-healthy.org.

    About Elastrin Therapeutics Inc. 
    Elastrin Therapeutics is a South Carolina-based biotech developing novel therapies to reverse cardiovascular disease. Its underlying technology was developed by Dr. Naren Vyavahare over the last 20 years at Clemson University. Our team has built a proprietary platform that targets and restores degraded elastin by removing the harmful calcification that stiffens arteries. The platform significantly improves the efficacy of drugs and eliminates side effects by combining particle design with elastin targeting.

    Further information can be found at www.elastrin.com

    About SC Launch 
    Established in 2006, SC Launch, Inc. is an independent, non-profit corporation affiliated with SCRA (South Carolina Research Authority), which provides loans and investments to selected South Carolina-based companies participating in the SC Launch program. The SCRA was chartered in 1983 by the State of South Carolina as a public, non-profit corporation. The SCRA fuels South Carolina’s Innovation Economy by accelerating technology-enabled growth in research, academia, entrepreneurship and industry.

    For more information, please visit: www.scra.org/sclaunchinc

    About Starbloom Capital 
    Starbloom Capital is a crypto-based family office that supports companies developing revolutionary longevity technologies.

  • sam patrick posted an article
    SCRA continues successful run building state economy see more

    Compliments of MidlandsBiz

    South Carolina Research Authority (SCRA) marked a strong year in 2021. The impact on South Carolina’s innovation economy was over a billion dollars. The total amount includes jobs supported, the salaries of Member and Portfolio Companies, grant funding to companies and academic institutions, and investments made by its affiliate, SC Launch Inc. SCRA’s economic impact was recently published in its annual report, ScaleUP SC.

    Included in the $1.003 billion impact are:

    • 5,429 South Carolina-based jobs supported by SCRA programs and operations.
    • $73,811 average salary of SCRA-supported companies, 53% higher than the state’s average of $48,097.
    • $4.6 million in grants to advance research capabilities, commercialize technology, expand product offerings, and fund the costs for businesses relocating to the state.
    • $2.2 billion in additional funding from venture capitalists, etc. to SC Launch companies since the inception of the program in 2006, with over $722 million received in 2021 alone.

    “SCRA again has proven how important it is to our state’s economy. The funding and other support they provide to tech startups and academic institutions produce higher-paying jobs. This has a direct impact on our state’s economy. South Carolina is becoming a state known for its growing knowledge-based economy and SCRA is a major catalyst for this growth,” said Joey Von Nessen, PhD, University of South Carolina Research Economist who prepared the economic impact analysis.

    Other 2021 highlights include several SCRA Member Companies and SC Launch Inc. Portfolio Companies scaling up after pauses due to the pandemic. Many increased staff, affecting job growth, and others expanded their physical operations. Some even moved their operations to South Carolina from other states.

    “I often talk about how exciting it is to see innovation develop and grow in our state. We not only have a front row seat, but we also have the honor and responsibility to help it grow. Our team shares my passion and it’s evident in our daily activities. We may be funding a relocation to bring a technology-based company to South Carolina, providing a grant to a startup at one of our colleges or universities, or connecting an early-stage startup to a large industry leader to solve a technology problem, which creates significant growth for the startup or establishes a technology platform at the university. It’s all in a day’s work here at SCRA,” said SCRA Executive Director Bob Quinn. “With a vibrant entrepreneurial ecosystem, world-class universities, and thriving industry, we’re off to a great start this year as well.”

     

  • sam patrick posted an article
    SCRA makes third investment in Zylo Therapeutics see more

    South Carolina Research Authority (SCRA’s) investment affiliate, SC Launch, Inc. has made its third investment into Zylö Therapeutics, Inc. This $300,000 investment will help the company continue providing therapeutic topical solutions.

    Zylö Therapeutics became an SCRA Member Company in 2018 and received a $21,500 Project Development Fund Grant. They also received a $41,000 SBIR/STTR Matching Grant in 2020. Zylö also became an SC Launch, Inc. Portfolio Company in 2019 when they received their first investment of $200,000. They also received a $182,500 investment as part of SC Launch, Inc.’s pandemic funding round to startups providing COVID-19 solutions.

    Zylö developed a sustained-release drug delivery system that uses patented xerogel-derived particles, called Z-pods™, to topically deliver Nitric Oxide and other notoriously hard-to-deliver therapeutic agents. The technology enables a product concept called the Patchless Patch™, an innovative, competitive response to a lidocaine patch.

    SCRA Investment Manager Steve Johnson said, “Technology applied to health care challenges is a powerful tool and the Zylö Z-pod® delivery system is creating value not only in health care but in a wide range of applications, from medicine to agriculture. These solutions have the potential to benefit us all.”

    Founder and CEO Scott Pancoast said, “We knew we discovered something special with our breakthrough delivery technology. The highly engineered silica-derived Z-pods enable us to improve performance of a wide range of payloads. Our success is changing the way treatments can be delivered via the skin, providing sustained release with fewer systemic side effects. The teams at SCRA and SC Launch, Inc. continue to be trusted partners, and we’re glad they are on this journey with us.”

    Scott Pancoast was a recent guest in our CEO Podcast Series. Listen to learn more about Zylö’s progress with silica particles, Nitric Oxide, and other developments for medical treatment solutions.

    “The list of health care conditions to be treated by Zylö’s developments continues to grow. They are pursuing solutions to help patients with lupus, hair loss, joint pain, and even burns, just to name a few. Their commitment to innovative treatment discoveries have set them on a path of continued growth and success. We’d excited to have them in our portfolio of companies,” said Bob Quinn, SCRA Executive Director.

     

    About SC Launch Inc.

    Established in 2006, SC Launch, Inc. is the investment affiliate of the South Carolina Research Authority. The independent nonprofit corporation provides loans and investments to selected South Carolina-based companies participating in the SC Launch program.

    About SCRA

    Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority (SCRA) fuels South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance translational research and accelerate the growth of university-based startups. SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. SC Industry Solutions facilitates and funds partnerships between and among startups, industry, and academia. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch, Inc.

  • sam patrick posted an article
    South Carolina company a leader in organ transportation see more

    Compliments of Upstate Business Journal

    You might not realize it, but there’s a company right here in the Upstate that’s on the cutting edge of organ transplant technology.

    Duncan-based Global Transplant Solutions is quite literally named for what they do. They provide the solutions in which organs are transported to medical facilities all over the world for transplant procedures.

    In the past four years, Global Transplant Solutions has blazed an innovative trail. They’re supplying a complete portfolio of organ preservation solutions to the Canadian transplant market, they’ve received FDA clearance for two products in the United States market, and there are four more GTS solutions awaiting FDA approval.

    The company has been able to do this in a relatively short amount of time thanks in part to the South Carolina Research Authority. The SCRA is a public, nonprofit corporation that supports South Carolina’s innovation economy.

    Since 2017, Global Transplant Solutions has received $350,000 in investments from the SCRA-affiliated corporation, SC Launch, Inc., which provides loans and investments to select, South Carolina-based companies across three areas: Life Science, Information Technology, and Advanced Materials & Manufacturing.

    “With the assistance of SCRA and many other places, we went forward, raised private money, started the company and pursued FDA approval of our first product, which we got in 2016,” says John Bruens, the CEO of Global Transplant Solutions. “We’ll eventually have seven FDA-cleared products, exclusively geared towards the organ transplant market, and we are the only company on the planet to have anything like that.”

    Steve Johnson, investment manager at SC Launch, says their investment in GTS started small but they saw great potential in the company.

    “We gave them a very small grant of $15,000 in April of 2017 when we discovered them,” Johnson says. “They were in the world where there is always much, much higher demand than there is supply. So once you have a patient that is in dire need of an organ, it is everything everybody can do to get an organ donor found and then get that organs safely transported to where it’s going to be done. And Global Transplant has the solutions, literally. They make the solutions that the organs are put in during the shipment process so that they will be fully functional when they’re implanted into the patient.”

    Johnson says the SCRA and SC Launch are thrilled with the results they’ve seen so far.

    “Our relationship is one of communication,” he says. “It’s one of trust and it’s one where we are very closely following their financial situation.  It’s been a very fulfilling relationship; that $15,000 grant to help them get started led to a pretty major investment in them and then, a second investment.”

    In fact, SC Launch, Inc. recently stepped in again and helped GTS when COVID threw them a curveball.

    “In April 2020, the biggest transplant centers like the Cleveland Clinic and the Mayo Clinic basically said, ‘We’re not accepting any more of your solutions from FedEx or UPS,’” Johnson says. “’We want them to be shipped directly in a truck from your facility in the Upstate of South Carolina and delivered directly to our door.’ Well, that was a whole other twist of logistics for them because they’d never done that. They came to us and said, ‘We’ve got to get trucks. We’ve got to hire people. We’ve got to hand-deliver these solutions.”

    “There was a concern amongst our customers that standard shipping groups were exposing, through no fault of their own, groups to potential infection,” John Bruens adds. “And the one thing you cannot do when you’re in the organ transplant is accidentally infect somebody. Our solutions are very sensitive; they’re temperature sensitive, they’re not made to be out on tarmacs getting hot. So we needed to figure out how to continue to deliver to these places that absolutely needed our product.”

    “Our relationship is one of communication,” he says. “It’s one of trust and it’s one where we are very closely following their financial situation.” – Steve Johnson
    Thanks to a loan from the SCRA and SC Launch, the company was able to do just that.

    “This company wouldn’t exist if it wasn’t for SCRA and their support,” Bruens says. “We’re always looking for ways to be better, and SC Launch and SCRA helps with that.

    “Global Transplant Solutions is a gem of a company,” Johnson adds. “We’re very proud to be associated with them, we’re very proud to have invested in them, and we’re very proud of the work they’re doing.”

    According to the United Network for Organ Sharing (UNOS), more than 35,000 organ transplants a year are performed in the U.S.  As this article was being completed, GTS announced that the FDA had given clearance to another of their solutions, Servator® P, which is used for safe human lung transportation.

     September 12, 2021
  • sam patrick posted an article
    Two life sciences companies make list for SCRA support see more

    Compliments of Midlands Biz

    Advent Innovations, LLC and DPX Technologies, LLC have been accepted as South Carolina Research Authority (SCRA) Member Companies and awarded grant funding. Parimer Scientific, LLC and Prewrite, Inc. have been accepted as Member Companies. As Member Companies, they will receive coaching, access to experts in SCRA’s Resource Partner Network, eligibility to apply for grant funding, and the potential to be considered for an investment from SCRA’s affiliate, SC Launch, Inc.

    Advent Innovations Limited Company has been accepted as an SCRA Member Company and awarded a $50,000 Federal Matching Grant. The University of South Carolina-affiliated startup provides services in modeling, analysis, design, and product development using cutting-edge research with novel sensors, big data analytics, and other smart technology such as robotics. Their customers include private corporations and government entities in aerospace, automotive, civil infrastructure, and energy.

    DPX Technologies, LLC has been accepted as an SCRA Member Company and awarded a $50,000 Federal Matching Grant. The University of South Carolina-affiliated company manufactures sample lab preparation products and develops custom methods for a diverse client base. Their proprietary and patented INTip™ technologies provide efficient, automated solutions for laboratories that are easy to customize and implement with any workflow or method.

    Parimer Scientific, LLC has been accepted as an SCRA Member Company. The Easley-based company provides turn-key laboratory services at competitive rates to biotech and pharmaceutical companies with no upfront capital or long-term commitment needed. In 2020 alone, more than 10,000 units of pharmaceutical products were made at Parimer and shipped directly to the end-users at hospitals, doctor’s offices, and nursing homes.

    Prewrite, Inc. has been accepted as an SCRA Member Company. The Greenville-based startup offers a story development platform for writers, producers, and content creators of all types. Their powerful tool ensures the writer is using good story fundamentals. Stories of any complexity are easily built, piece-by-piece. Originally designed for screenplays, Prewrite is used around the world by professionals and amateurs alike.

    SCRA welcomes these new Member Companies!

    Grant funding is made possible, in part, by Industry Partnership Fund (IPF) contributions that fuel the state’s innovation economy. Contributors to the IPF receive a dollar-for-dollar state tax credit, making it an easy and effective way to help one of the fastest growing segments of the South Carolina economy. Grant funding for Member Companies creates a direct, positive economic effect and job creation.

    About SCRA
    https://scra.org/
    Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority (SCRA) fuels South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance translational research and accelerate the growth of university-based startups. SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. SC Industry Solutions facilitates and funds partnerships between and among startups, industry, and academia. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch, Inc.

     September 08, 2021
  • sam patrick posted an article
    Matt Bell named to head SC Launch see more

    The South Carolina Research Authority (SCRA) has announced that Matt Bell was recently named Director of SC Launch and Executive Director of SC Launch, Inc. Bell replaces Russell Cook who resigned to focus on his recovery from a medical issue.

    A member of SCRA’s leadership team, Matt Bell is responsible for leading the strategic direction of the SC Launch program, which provides mentoring, networking, and grant funding to eligible companies that are employing new technologies within the advanced materials and manufacturing, information technology, and life science sectors. He also serves as the liaison to the SC Launch, Inc. board of directors, which makes capital investments in SCRA Member Companies that successfully complete the due diligence process. Established in 2006, SC Launch, Inc., is an independent, nonprofit corporate affiliate of SCRA.

    “Matt brings a broad background in startup creation from managing intellectual property and launching startups in academia to early-stage investing and venture capital experience. He is also an expert convener who understands how to bring the right people and resources to the table for economic development through innovation,” said Bob Quinn, SCRA Executive Director. “The SC Launch team has been accelerating the growth and success of Member Companies for many years, and Matt brings the right background and experience to lead this team as they guide our companies to becoming highly investible. We sincerely thank Russell Cook for his service to SCRA and the state, and we wish him a speedy and full recovery.”

    Prior to coming to the SCRA, Bell was managing director for Discovery Partners Institute, a University of Illinois-led initiative that leverages the state of Illinois’ university resources to drive economic development through workforce training, student immersion, and research programs. He was also a managing director and a principal with Cultivian Sandbox Venture Fund where he raised capital, managed strategic investor relationships, and managed fund activities.

    Matt Bell is a board member and advisor for Michigan State University’s state-wide, agriculture-focused translational fund, a former board member of Abcelex Technologies, and a U.S. Department of Agriculture Small Business Innovation Research grant reviewer. He earned a Master of Business Administration and a Bachelor of Science from the University of Illinois. He will be based in SCRA’s Greenville office.

    About SCRA

    https://scra.org/

    Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority (SCRA) fuels South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance multi-institutional, translational research and accelerate the growth of university-based startups. SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. SC Industry Solutions facilitates and funds partnerships between and among startups, industry, and academia. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch, Inc.

  • sam patrick posted an article
    Zylo, Hoth expand relationship see more

    Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company, today announced it has completed a strategic investment in [SC Launch, Inc., Portfolio Company] Zylö Therapeutics, Inc. (“Zylö”).

    Mr. Robb Knie, Chief Executive Officer of Hoth, commented, “We are pleased to expand our partnership with Zylö and look forward to working together as our therapeutic for Lupus patients continues through the next phase of development. This small equity investment in Zylö is a further commitment to our belief in Zylö’s science and team.”

    Stated Scott Pancoast, CEO of Zylö Therapeutics, “Partnering with Hoth in 2019 was an important step in propelling our lupus program forward. This equity investment in Zylö stock represents an expansion of the partnership and is a win-win for the two companies.”

    According to estimates by the Lupus Foundation of America (LFA), 1.5 Million Americans currently suffer from lupus, with 16,000 new cases reported annually. Tragically, lupus strikes mostly women of child-bearing age. Worldwide, the LFA estimates that at least five million people may have some form of the disease. Of the people diagnosed, approximately two-thirds will develop CLE. The annual average cost to provide medical treatment for a person with lupus: $6,000 to $10,000, with some treatment costing several thousand dollars a month.

    ###

    About Zylö Therapeutics, Inc.
    Zylö, dedicated to bringing innovative technologies to multiple facets of medicine, has an innovative sustained-release drug-delivery system that was developed by Joel Friedman MD PhD, Adam Friedman MD FAAD, and Andrew Draganski PhD. The delivery system uses patented xerogel-derived nanoparticles, called Z-pods™, to deliver—in a sustained and controlled manner—notoriously hard-to-deliver therapeutic agents through topical administration. For more information, please visit; http://www.zylotherapeutics.com/

    About Hoth Therapeutics, Inc.
    Hoth Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing new generation therapies for dermatological disorders. HOTH’s pipeline has the potential to improve the quality of life for patients suffering from indications including atopic dermatitis, chronic wounds, psoriasis, asthma and acne. Hoth has recently entered into a Joint Development Agreement to further the development of vaccine prospects to prevent, intercept or treat the Coronavirus (COVID-19) based upon VaxCelerate, a self-assembling vaccine (SAV) platform exclusively licensed by Voltron from the Vaccine and Immunotherapy Center (VIC) at Massachusetts General Hospital (MGH). To learn more, please visit www.hoththerapeutics.com.

    Forward Looking Statements
    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements that relate to the advancement and development of AEA-loaded Z-pods™, the commencement of clinical trials, the availability of data from clinical trials and other information that is not historical information. When used herein, words such as “anticipate”, “being”, “will”, “plan”, “may”, “continue”, and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Hoth’s current expectations and various assumptions. Hoth believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Hoth may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described under the caption “Risk Factors” in Hoth’s Form 10K for the period ending December 31, 2018, and Hoth’s other filings made with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as Hoth’s current plans, estimates and beliefs. Investors should not place undue reliance on forward-looking statements. Hoth cannot guarantee future results, events, levels of activity, performance or achievements. Hoth does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by law.

  • sam patrick posted an article
    SCRA Celebrates $1 Billion in Support of South Carolina Start-Ups see more

    Summerville, S.C.– SCRA, a public, non-profit corporation that fuels South Carolina’s innovation economy, celebrated a milestone of $1 billion of follow-on capital secured by Client Companies in the SC Launch Program. SC Launch, SCRA’s entrepreneurial program, provides mentoring, grants and access to SC Launch, Inc. investments for qualified, South Carolina-based, early-stage companies.

    Access to follow-on capital is critical to the success of entrepreneurial companies. Angel investors, venture capital funds and corporate investors are the main source of follow-on funding secured by SC Launch companies. The $1 billion in follow-on investments were acquired by more than 140 Client Companies over the span of 12 years.

    “Our job, and our passion, is guiding companies to the next stage in the entrepreneurial life cycle and seeing them through to success,” said Bob Quinn, SCRA Executive Director, “The funding provided by SC Launch is vital in enabling our Client Companies to overcome many of the barriers faced by early-stage enterprises. However, void of follow-on funding, these companies often flounder. Therefore, we are thrilled to be celebrating this $1 billion milestone.”

    “Through the SC Launch Program, SCRA helps entrepreneurs to strategically navigate the ups and downs of running a company. We also work alongside entrepreneurs to secure grants, prepare them for investments and secure capital from other sources.” said Jill Sorensen, SCRA Director of Entrepreneurial Programs and Executive Director of SC Launch, Inc. “Our team rolls up our sleeves and dives in to provide an advantage for the entrepreneurs we support.”

    SCRA is a state-chartered organization that fuels job creation and grows South Carolina’s innovation economy. The SC Launch Program is open to qualified South Carolina companies in the Advanced Materials/Manufacturing, Information Technology and Life Sciences sectors.

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    About SCRA
    Chartered in 1983 by the State of South Carolina as a public, non-profit corporation, SCRA fuels South Carolina’s Innovation Economy by supporting entrepreneurs, enabling academic research and its commercialization, and connecting industry to innovators.

  • sam patrick posted an article
    Accessible Diagnostics receives $250,000 SC Launch Investment see more

    March 15, 2018 11:50 AM Eastern Daylight Time

    SUMMERVILLE, S.C.--(BUSINESS WIRE)--SC Launch, Inc., SCRA’s entrepreneurial program, recently finalized a $250,000 investment for Accessible Diagnostics, a life science company based in Greenville, SC. The company was accepted as an SC Launch Client Company in December 2014 and received a $50,000 Acceleration Grant in June 2017.

    Accessible Diagnostics is developing a smartphone-based, at-home health test platform in collaboration with healthcare professionals. Their first proprietary product, Vet-Tab, is a painless glucose test for a beloved family member, a diabetic dog. The investment will be used to finalize product development, manufacture the initial inventory and launch sales. The company has also begun the regulatory process to sell painless human glucose test.

    “Concepts to Companies and accredited individuals provided the seed capital for Accessible Diagnostics to startup and reach this point,” said John Warner, Accessible Diagnostics CEO and Co-Founder. “We are grateful for Acceleration Grant last summer to help with prototype development and their investment this spring to help launch Vet-Tab sales.”

    “Accessible Diagnostics can create enormous value by aggregating data to integrate into other digital heath platforms being created in the market,” said Director of Entrepreneurial Programs and SC Launch Inc. Executive Director, Jill Sorenson. “We are excited to see the growth of the company and the impact to South Carolina.”

    SCRA is a state-chartered organization that fosters job creation and grows South Carolina’s Innovation Economy. The SC Launch program is SCRA’s entrepreneurial platform that provides mentoring, grants and investments to qualified, South Carolina companies in the Advanced Materials/Manufacturing, Information Technology and Life Sciences industries.

    About SCRA

    http://www.scra.org/

    Chartered in 1983 by the State of South Carolina as a public, non-profit corporation, SCRA fosters South Carolina's Innovation Economy by supporting entrepreneurs, enabling academic research and its commercialization, and connecting industry to innovators.

    Contacts

    SCRA
    Jessica Cokins, 843-760-3273
    jessica.cokins@scra.org