News Category: Portfolio

VALENCIA, CA—SetPoint Medical, a company dedicated to developing therapies for people living with chronic autoimmune diseases, announced that it has raised $140 million in private financing, that includes $25 million in the second tranche of its Series C financing, as well as $115 million in its Series D financing, co-led by Elevage Medical Technologies and Ally Bridge Group. Proceeds of the financing will support commercialization of the SetPoint System, a first-of-its-kind neuroimmune modulation therapy for adults living with moderate-to-severe rheumatoid arthritis (RA), as well as advancement of the company’s pipeline in other autoimmune conditions.

In conjunction with the Series D financing, Josh Makower, M.D., joined SetPoint Medical’s board of directors as a representative of Elevage Medical Technologies, along with Kevin Reilly, Managing Director and Head of MedTech investments at Ally Bridge Group.

New investors Northwell Health, SPRIG Equity and an undisclosed strategic investor also participated in the Series D financing, along with returning investors Norwest, New Enterprise Associates (NEA), Viking Global Investors, Action Potential Venture Capital, Abbott, Boston Scientific, Euclidean Capital, Richard King Mellon Foundation, Morgenthaler Ventures, ShangBay Capital, Ascendum Capital, Catalio Capital Management, Gilmartin Capital, and Midas Capital.

In preparation for commercialization, SetPoint has announced two new executive appointments. Erik Styacich, former Vice President of Sales for neuromodulation company, Valencia Technologies, joins as Vice President of Sales, and Spencer Bailey joins as Vice President of Market Access & Reimbursement, after holding several similar leadership roles at other neuromodulation companies, including MicroTransponder, Inc.

“We are pleased to share these strategic milestones underpinning our commitment to a successful and seamless market launch for the SetPoint System in select U.S. markets this year, with broader national expansion in 2026,” added Murthy V. Simhambhatla, Ph.D., CEO of SetPoint Medical. “We are thrilled to welcome an outstanding group of new investors to our exceptional syndicate.”

About SetPoint Medical

SetPoint Medical is a commercial-stage medical technology company dedicated to improving care for people living with chronic autoimmune diseases. The company’s FDA-approved SetPoint System is the first neuroimmune modulation therapy available for people living with rheumatoid arthritis (RA), offering a novel, device-based alternative for those who do not respond to or cannot tolerate biologic or targeted drug therapies. SetPoint’s proprietary integrated neurostimulation platform is designed to activate innate anti-inflammatory pathways in the vagus nerve to reduce inflammation and restore immunologic setpoint. With a vision to redefine the care of autoimmune conditions, SetPoint is also planning to evaluate its platform technology for other conditions including multiple sclerosis and Crohn’s disease. Learn more at www.setpointmedical.com.

 

Investment to Drive Commercial Growth, Advance Single-Cell Tri-omics Capabilities and Clinical Applications Across Cancer

Company Adds to Leadership Team, with Matthew H. Cato Joining as CCO

SOUTH SAN FRANCISCO, Calif., August 5, 2025 – Mission Bio, a leader in single-cell multi-omics solutions for precision medicine, today announced the successful completion of equity financing led by Ally Bridge Group. The investment will fund new innovations, commercial partnerships, and clinical adoption. The company’s vision is to accelerate clinical adoption of the company’s Tapestri® Platform across multiple cancer segments by providing crucial insights into treatment decision-making. This effort will be supported by the broadening of the platform’s single-cell tri-omics capabilities, which recently added targeted gene expression analysis to genotype analysis in a single assay. The funding follows Mission Bio’s strong traction with biopharma customers and continued platform innovation. The Tapestri Platform has long been the leading technology for simultaneously generating DNA and protein data from a single cell, allowing researchers and clinicians a unique window into disease development and therapeutic response. Last month, Mission Bio launched its Single-Cell Targeted Genotype and Gene Expression assay, a custom service supporting KOL protocols to profile DNA and – for the first time in one assay – RNA from over 10,000 single cells, an unprecedented leap forward for single-cell multi-omics. In its next phase, Mission Bio will expand its offerings, enabling a variety of uses for characterizing tri-omics – the simultaneous profiling of DNA, RNA, and protein for single cells – at high resolution. “This strong support from Ally Bridge Group and other investors validates our leadership position in single-cell multi-omics and enables us to take the next step in our mission of transforming precision medicine,” said Brian Kim, CEO. “We are now positioned to expand our commercial footprint while advancing our technology to address critical unmet needs in cancer research and treatment.” The funding will support three key initiatives:

• Commercial Expansion and Partnerships: Mission Bio will broaden its customer reach to support growing demand from pharmaceutical companies developing next-generation cancer therapies. Recent partnerships, including a collaboration with Integrated DNA Technologies (IDT), a Danaher company, demonstrate industry confidence in the Tapestri Platform’s ability to deliver comprehensive insights for drug development. Furthermore, Mission Bio will expand its commercial reach through distribution agreements that help access new market opportunities.
• Development of Single-Cell Tri-omics Capabilities: The company will advance its platform to include targeted RNA analysis alongside existing DNA and protein capabilities. This enhancement responds to consistent customer demand for integrated genotype and gene expression data, enabling researchers to understand mechanisms of action and resistance in cancer therapies. The tri-omics capability will support applications beyond patient stratification, including patient safety assessments.
• Accelerated Clinical Adoption: Mission Bio will expand the clinical utility of Tapestri across multiple cancer segments, including multiple myeloma, myeloid malignancies, and CAR-T cell therapy applications. The platform’s ability to provide comprehensive sample-to-answer solutions empowers clinicians to accelerate personalized treatment guidance. One promising initiative is using Mission Bio’s Tapestri Single-cell Myeloid Multiomics Assay to correlate relapse with complex clonal architecture, surpassing the limitations of existing methods like NGS or FLO and revealing novel biomarkers for therapeutic targets.

Mission Bio is well known for breakthrough innovation in single-cell analytics that has unlocked novel insights for its customers. In addition to its latest tri-omics offering, the Tapestri Platform was recently featured in a publication where its single-cell Myeloid Multi-omics solution was used as a highly sensitive molecular test to confirm long-term remission for patients with IDH1-mutant AML who received olutasidenib, the latest demonstration of how the industry is using Tapestri as a high-resolution MRD assay leading to actionable insights.

“Mission Bio’s single-cell tri-omics platform represents exactly the type of transformative life science innovation we seek to support,” said Kevin Reilly, Managing Director at Ally Bridge Group. “This investment reflects our continued conviction that Mission Bio’s technology will become essential infrastructure for precision medicine, particularly as the industry shifts toward more complex cell and gene therapies requiring comprehensive characterization at the individual cell level.”

Mission Bio has also expanded its leadership team with the addition of Matthew H. Cato as the company’s new Chief Commercial Officer. Cato has held senior marketing and business development positions with the company since 2017, and will help expand the company’s commercial leadership in the multi-omics space.

About Mission Bio

Mission Bio is the single-cell tri-omics leader. The company’s Tapestri Platform is unique in its capabilities, offering an unparalleled level of granularity and precision that is critical for complex research areas such as cancer studies, pharmaceutical development, and advanced cell and gene therapies. Unlike traditional methods such as bulk sequencing, Tapestri provides a level of precision that opens the door for more tailored and effective treatment strategies. Researchers globally depend on Tapestri to identify rare cell populations, understand mechanisms of therapeutic resistance and response, and establish key quality metrics for next-generation medical treatments. With the Tapestri Platform, Mission Bio is setting the standard in the field, contributing significantly to the progress of personalized medicine and targeted therapies. To learn more about Mission Bio and the Tapestri Platform, please visit missionbio.com.

About Ally Bridge Group

Ally Bridge Group is a global healthcare investment firm focused on private and public high-impact life science innovation. Founded in 2013 by Frank Yu, the firm has led or co-led over $6 billion in healthcare transactions. The firm’s mission is to generate superior risk-adjusted returns for investors guided by the core principle of selective investment in healthcare innovation that addresses unmet medical needs. Ally Bridge Group has offices in New York and Hong Kong. For more information, visit www.ally-bridge.com.

 

Alongside a recent capital raise, the company announced Chief Strategy Officer Jason Macaleer will partner with Chief Growth Officer Mike Rolla to meet growing demand for evidence-based obesity solutions.

SAN FRANCISCO — July 23, 2025 — Vida Health, a virtual, personalized obesity care provider that helps patients manage obesity and related conditions, today announced the appointment of Jason Macaleer as Chief Strategy Officer and Mike Rolla as Chief Growth Officer. Seasoned healthcare leaders with a combined 40+ years of industry experience, Macaleer and Rolla will partner to help scale the company’s impact amid growing demand for evidence-based obesity and cardiometabolic solutions.

The announcement of Macaleer and Rolla’s appointments coincides with the completion of Vida Health’s recent capital raise led by existing investor General Atlantic, with participation from Ally Bridge, Canvas Prime, and existing shareholders, underscoring leading investors’ support for the company’s strong market traction. In the last year, Vida has experienced significant growth, expanding its customer base by 70% and increasing revenue by greater than 90% year-to-date, driven by the company’s Clinical Obesity Management program. Combined with deepening partnerships with consultants, PBMs, and payers, this momentum underscores Vida’s emergence as the preferred partner for cardiometabolic care, particularly amid rising concerns about GLP-1 affordability and sustainability.

“Jason and Mike’s leadership and vision will be instrumental in our next phase of growth. Their complementary experience strengthens our ability to deliver sustainable solutions for obesity, diabetes, and related conditions,” said Joe Murad, CEO at Vida Health. “With our recent capital raise, which fully funds Vida to profitability, we are even better positioned to deliver on our mission and expand our impact, backed by the continued confidence of our investors.”

Macaleer joins Vida at a pivotal moment in the market, as employers and health plans navigate rising cardiometabolic risk and the evolving GLP-1 landscape. Macaleer brings deep expertise from strategic roles at Transcarent, Teladoc Health, and Livongo, where he scaled employer and health plan partnerships and advanced value-based care. He will support Vida’s mission of delivering partners and their members measurable, meaningful health outcomes, personalized care, and cost savings.

“It is a privilege to join the Vida team as we work to help address the obesity epidemic,” said Jason Macaleer. “I am energized by the opportunity to contribute to Vida’s continued growth and drive impactful results for our partners and their members.”

Rolla has a strong track record in commercializing innovative medical technologies and leading enterprise growth at companies like AliveCor, Teladoc/Livongo, and Becton Dickinson. His leadership in go-to-market strategy and complex enterprise sales will advance Vida’s expansion of responsible GLP-1 prescribing and comprehensive obesity care.

“It is rewarding to be part of Vida at such an exciting time of accelerated growth,” said Mike Rolla. “We are off to a strong start in 2025 and poised to continue our momentum with Jason and the rest of this impressive management team.”

Together, both executives offer a powerful blend of strategic vision, commercial acumen, and operational expertise as they work to strengthen employer and payer partnerships, optimize Rx integration, and accelerate Vida’s growth in the cardiometabolic market.

To learn more about how Vida helps health plans and employers improve the health of their members and employees, visit www.Vida.com.

About Vida Health

Vida Health is a virtual, personalized obesity care provider that helps patients manage obesity and related conditions like diabetes, high blood pressure, anxiety, and depression with evidence-based treatment. Vida’s team of obesity medicine-certified physicians, nurses, registered dietitians, expert coaches, and licensed therapists take a whole-person approach leading to clinically meaningful body weight loss in one year. Practicing responsible prescribing, Vida supports patients, employers, and health plans by prioritizing proven behavior change and lifestyle interventions before introducing medications, ensuring that only those who really need anti-obesity medications receive them — helping to control costs. For individuals with obesity, employers and health plans can save up to $550 in monthly prescription costs. Vida serves members in all 50 states and Washington D.C., offers services in both English and Spanish, and operates on a value-based pricing model, putting outcomes at the center of care.

To learn more, visit www.Vida.com.

 

SAN CARLOS, Calif., July 08, 2025 (GLOBE NEWSWIRE) — CARGO Therapeutics, Inc. (“CARGO” or the “Company”) (NASDAQ: CRGX), a biotechnology company that has focused on developing CAR T-cell therapies, today announced that it has entered into a definitive merger agreement (the “Merger Agreement”) with Concentra Biosciences, LLC (“Concentra”), whereby Concentra will acquire CARGO for $4.379 in cash per share of CARGO common stock, par value $0.001 per share (“CARGO Common Stock”), plus one non-transferable contingent value right (“CVR”), which represents the right to receive: (i) 100% of the closing net cash of CARGO in excess of $217.5 million; and (ii) 80% of any net proceeds received within two years following closing from any disposition of certain of CARGO’s product candidates that occurs within two years following closing, each pursuant to a contingent value rights agreement (the “CVR Agreement”).

Following a strategic review process conducted with the assistance of CARGO’s management and legal and financial advisors and other factors considered, the CARGO board of directors has unanimously determined that the acquisition by Concentra is in the best interests of all CARGO stockholders and has approved the Merger Agreement and related transactions (collectively, the “Transactions”).

Pursuant and subject to the terms of the Merger Agreement, Concentra will commence a tender offer (the “Offer”) by July 21, 2025, to acquire all outstanding shares of CARGO Common Stock. The closing of the Offer is subject to certain conditions, including the tender of CARGO Common Stock representing at least a majority of the total number of outstanding shares, the availability of at least $217.5 million of cash (net of transaction costs and other liabilities) at closing, and other customary closing conditions. Immediately following the closing of the Offer, CARGO will be acquired by Concentra, and all remaining shares not tendered in the Offer, other than shares owned directly or indirectly by Concentra or the Company or a subsidiary thereof or validly subject to appraisal, will be converted into the right to receive the same cash and CVR consideration per share as is provided in the Offer. CARGO officers, directors and certain Company stockholders holding approximately 17.4% of CARGO Common Stock in the aggregate have signed tender and support agreements under which such parties have agreed to tender their shares in the Offer and support the merger transaction. The merger transaction is expected to close in August 2025.

Advisors

TD Cowen is acting as exclusive financial advisor to CARGO and Latham & Watkins LLP is acting as legal counsel to CARGO. Gibson, Dunn & Crutcher LLP is acting as legal counsel to Concentra.

About CARGO Therapeutics

CARGO is a biotechnology company that has focused on the development of CAR T-cell therapies for cancer patients. For more information, please visit the CARGO Therapeutics website at https://cargo-tx.com/.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. Forward-looking statements are neither historical facts nor assurances of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the possibility that various closing conditions set forth in the Merger Agreement may not be satisfied or waived, including uncertainties as to the percentage of the Company’s stockholders tendering their shares in the Offer; the possibility that competing offers will be made; the risk that the Transactions may not be completed in a timely manner, or at all, which may adversely affect the Company’s business and the price of its common stock; significant costs associated with the Transactions; the risk that any stockholder litigation in connection with the Transactions may result in significant costs of defense, indemnification and liability; the risk that activities related to the CVR Agreement may not result in any value to the Company’s stockholders; and other risks and uncertainties discussed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including but not limited to its Annual Report on Form 10-K for the year ended December 31, 2024 filed on March 12, 2025. Any forward-looking statements that the Company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date hereof. As a result of such risks and uncertainties, the Company’s actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. There can be no assurance that the proposed Transactions will in fact be consummated. The Company cautions investors not to unduly rely on any forward-looking statements.

The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements, whether as a result of future events, new information or otherwise, except as expressly required by law. All forward-looking statements in this document are qualified in their entirety by this cautionary statement.

Additional Information and Where to Find It

The Offer described above has not yet commenced and this press release is neither a recommendation, nor an offer to purchase nor a solicitation of an offer to sell any shares of CARGO Common Stock or any other securities. On the commencement date of the Offer, a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, will be filed with the SEC by Concentra and its acquisition subsidiary, and a Solicitation/Recommendation Statement on Schedule 14D-9 will be filed with the SEC by the Company. The Offer to purchase the outstanding shares of CARGO Common Stock will only be made pursuant to the offer to purchase, the letter of transmittal and related documents filed as a part of the Schedule TO. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, A LETTER OF TRANSMITTAL AND RELATED DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 REGARDING THE OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT INVESTORS AND SECURITYHOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. Investors and security holders may obtain a free copy of these statements (when available) and other documents filed with the SEC at the website maintained by the SEC at https://www.sec.gov/ or by directing such requests to the information agent for the Offer, which will be named in the tender offer statement. Investors and security holders may also obtain, at no charge, the documents filed or furnished to the SEC by the Company under the “SEC Filings” subsection of the “Financial Information” section of the Company’s website at https://investors.cargo-tx.com/.

Van Nuys, CA – [April 8, 2025] – Kandu Health, Inc. and Neurolutions, Inc. today announced that they have merged to form Kandu, Inc. The company will set a new standard of care for stroke recovery, accessible to patients and caregivers at home, with a first-in-kind end-to-end solution for stroke survivors, combining brain computer interface (BCI) technology with personalized telehealth services.

As part of the merger, Kandu Inc. completed the first close of a $30 million financing, which was co-led by Ally Bridge Group and AMED Ventures, with participation from other existing investors. Kandu will use proceeds from the financing to support ongoing commercialization and continued execution of its mission to set a new standard of care for stroke recovery that is accessible to patients at home.

“We are excited to bring together Neurolutions’ medical device expertise with the AI-supported digital health solutions of Kandu Health,” said Leo Petrossian, CEO of Neurolutions, who will lead the newly formed Kandu, Inc. as its CEO. “This merger positions Kandu, Inc. as a leader in the stroke recovery space and allows us to offer a seamless continuum of care, from the immediate post-acute phase through chronic rehabilitation and recovery. Kandu, Inc. is now able to offer a truly integrated care experience that aligns with the needs of stroke survivors, healthcare providers, and caregivers.”

Kandu Health, founded in 2022, is a tech-enabled healthcare services company changing the course of stroke recovery. Neurolutions, founded in 2007, is the leader in the use of non-invasive BCI technology for post-stroke therapy.

Expanding the Stroke Care Continuum

Kandu provides remote, multidisciplinary support to stroke survivors and care partners in outpatient settings through a team of licensed clinicians and an easy-to-use app. Neurolutions’ IpsiHand^® System is the only noninvasive FDA-cleared breakthrough device that accelerates motor recovery of the affected upper limb after chronic stroke.

By combining the infrastructure and technology of the two companies, Kandu, Inc. is uniquely positioned to provide a breadth of services that have historically been unavailable or inaccessible to stroke survivors: telehealth rehabilitation, therapy monitoring, education, caregiver support, advocacy and navigation. These services empower stroke survivors and their families while enabling healthcare providers and payers to more effectively manage post-stroke care and costs. Kandu and Neurolutions have collected high-quality data about stroke patients’ physiology, activities and clinical outcomes. These proprietary data are being used to develop AI solutions that will deliver workforce efficiency and support exceptional outcomes for stroke survivors.

“This is a merger of complementary companies with aligned missions to improve quality of life for people affected by stroke,” said Kirsten Carroll, CEO of Kandu Health, who will become General Manager of Kandu, Inc. “IpsiHand is the first BCI technology cleared by the FDA for stroke rehabilitation and the first to receive a Centers for Medicare and Medicaid Services (CMS) reimbursement code. Kandu Health has demonstrated dramatically lower rates of hospital readmission and significantly improved functional outcomes in patients recovering from stroke in the home setting. Together, we will continue to break barriers and deliver transformative solutions for stroke recovery.”

A Shared Commitment to Innovation and Patient-Centered Care

Historically, post-acute stroke care has been fragmented and short-term. Stroke survivors and caregivers often struggle with navigating the complex and disconnected healthcare system, leading to high hospital readmission rates and ongoing health challenges. Under current paradigms, 28% of stroke survivors rate their quality of life as “poor or worse than death” a year after stroke.¹ Through this merger, Kandu, Inc. aims to further bridge this gap by providing stroke survivors with continuous, evolving support throughout their recovery.

“Despite years of improvements in stroke treatment technology and acute intervention, our system of care has not yet produced meaningful improvements in patients’ functional outcomes following hospital discharge,” said Demetrius Lopes, MD, Neurosurgery Advocate Health. “Kandu offers a new approach to post-acute care that I believe will continue to improve functional outcomes for stroke survivors.”

Clinical Evidence for Post-Acute Care

Clinical evidence has demonstrated increased independence and lower rates of hospital readmissions for stroke survivors who received Kandu services. More than 80% of the stroke patients achieved independent living at 90 days; and readmission rates for these patients are approximately 50% lower than those in published literature. The Modified Rankin Scale (mRS) is a global measure of function after stroke, with scores of 0-2 indicating an ability to live independently. After receiving Kandu services for 90 days, 57% of the stroke survivors saw an improvement in mRS score.¹

In a prospective clinical study of IspiHand, chronic stroke patients with impaired upper extremity motor function were evaluated at 12 weeks. Approximately 70% of stroke survivors experienced improved functional movements of their arm and hand, and all stroke survivors who completed the Arm Motor Ability Test showed clinically significant improvement in functional tasks requiring upper extremity use. Participants also experienced an average improvement of 8.1 points on the Fugl-Meyer Assessment, widely regarded as the gold standard for evaluating arm function after stroke.²

About Kandu Health, Inc.

Kandu Health was launched inside Imperative Care and spun out as an independent company in 2022 to provide tech-enabled healthcare services to people recovering from stroke. Kandu Health delivers integrated solutions that aid in the stroke recovery process for stroke survivors, their healthcare providers, and care partners. Kandu Health provides hospital staff and payers with assurance that their patients are safe and connected to the recovery resources they need. https://kanduhealth.com

About Neurolutions, Inc.

Neurolutions is a medical technology company dedicated to transforming the lives of patients suffering from neurological conditions. We are focused on advancing the field of neurorehabilitation through cutting-edge research and development. The IpsiHand System is a breakthrough, FDA-cleared therapeutic device in neurorehabilitation that uses brain-computer interface technology developed to help patients with chronic upper extremity impairments regain function after stroke. The IpsiHand device was co-invented by Eric C. Leuthardt, MD, a neurosurgeon at Washington University in St. Louis. https://neurolutions.com

About Ally Bridge Group

Ally Bridge Group (ABG) is a global healthcare investment management firm focused on high-impact life science innovation, having led or co-led over $6 billion of transactions across healthcare subsectors, with a mission to generate superior risk-adjusted returns for investors while seeking to address unmet medical needs. ABG aims to achieve this by blending deep scientific and clinical research with proven M&A and capital markets expertise.

About AMED Ventures

AMED Ventures (AMED) is a venture capital firm located in the San Francisco Bay Area, dedicated to supporting exceptional entrepreneurs and MedTech innovations that truly impact patients’ lives. The founders of AMED are seasoned entrepreneurs who have successfully built companies from the ground up, eventually growing into industry leading companies and a Fortune 500 company. With a strong track record in investment, business development, and operational management, AMED focuses on offering value-added investments and services to both entrepreneurs and its portfolio companies.

Citations

1. Data on file.
2. https://journals.sagepub.com/doi/epub/10.1177/15459683241287731

Financing led by Ally Bridge Group, with participation from SOLVE FSHD, a venture philanthropy organization

Lead program, EPI-321, is the first clinical application of epigenetic modulation in neuromuscular diseases, with a first-in-human trial in New Zealand to commence in 2025 as part of a broader global clinical strategy

SOUTH SAN FRANCISCO, CA—(BUSINESS WIRE)—Epicrispr Biotechnologies, a biotechnology company focused on developing curative therapies, today announced it has secured $68 million in the first close of its Series B financing. The proceeds will support the clinical development of EPI-321, a first-in-class, disease-modifying therapy for facioscapulohumeral muscular dystrophy (FSHD), a genetic neuromuscular disease.

The Series B financing was led by Ally Bridge Group, with participation from SOLVE FSHD, the venture philanthropy organization founded by Chip Wilson, founder of Lululemon Athletica and FSHD patient, along with other new and existing investors. The financing will support Epicrispr’s upcoming clinical trial of EPI-321, as well as continued advancement of the company’s broader pipeline.

Epicrispr also announced clinical trial application (CTA) approval from New Zealand’s Medsafe to initiate a first-in-human trial of EPI-321, the first epigenetic therapy to enter the clinic for a neuromuscular disease. The study is expected to begin in 2025, and will evaluate the safety, tolerability, pharmacodynamics, and biological activity of a single intravenous dose of EPI-321 in adults with FSHD.

“FSHD is one of the most common adult muscular dystrophies, with estimates of up to 1 million patients affected worldwide. But patients have no disease-modifying therapy for this progressive disease,” said Dr. Richard Roxburgh, Associate Professor of Medicine at the University of Auckland and principal investigator for the EPI-321 clinical trial, which is planned to be conducted in partnership with Pacific Clinical Research Network, a leading clinical research center in New Zealand. “We look forward to advancing this clinical trial which could, with a single treatment, permanently address the disease’s underlying cause, and are hopeful that it will pave the way for new standards for therapies in genetic diseases.”

EPI-321 is an investigational one-time gene-modulating therapy designed to silence aberrant expression of DUX4, a gene that is incorrectly activated in FSHD and leads to progressive muscle degeneration. Delivered systemically via a clinically validated AAV vector, EPI-321 has demonstrated robust suppression of DUX4 expression and protection of muscle tissue in preclinical models. EPI-321 has received FDA Fast Track, Rare Pediatric Disease, and Orphan Drug designations.

“We are developing a first-in-class, one-time epigenetic therapy that targets the genetic root cause of FSHD,” said Amber Salzman, Ph.D., CEO, Epicrispr Biotechnologies. “The Series B financing and regulatory clearance to begin our first-in-human trial marks a pivotal milestone as we become a clinical-stage company. With a strong investor syndicate and recent FDA designations recognizing EPI-321’s potential, our team is laser-focused on advancing EPI-321 into the clinic to provide a much-needed therapy to patients and families in desperate need.”

“With a robust body of data validating the potential of EPI-321 and the GEMS platform broadly, Epicrispr has shown itself to be a leading epigenetic editing company,” said Andrew Lam, Pharm.D., Managing Director, Head of Biotech Private Equity, Ally Bridge Group. “We are proud to lead this investment in Epicrispr’s future, and we look forward to partnering with their leadership to support their continued success.”

“As someone living with FSHD, I know the devastating impact of this disease and the urgent need for treatments that target its root cause,” said Chip Wilson, founder and Chairman of SOLVE FSHD. “We commend Epicrispr’s commitment in advancing EPI-321 for FSHD and are glad to be part of this financing to support its transition to the clinic.”

Concurrent with the funding, Epicrispr has expanded its Board of Directors with the addition of Andrew Lam, Pharm.D., of Ally Bridge Group, Eric Crombez, M.D., Chief Medical Officer of Ultragenyx, and Jennifer King, Ph.D., former SVP of Business Development at Intellia Therapeutics and an expert in rare diseases and strategic partnerships.

About EPI-321

EPI-321 is an investigational epigenetic therapy that aims to address the underlying molecular mechanisms of FSHD with a one-time dose. It has been granted FDA Fast Track, Rare Pediatric Disease, and Orphan Drug designations. Following intravenous administration, EPI-321 is directed to muscle tissue within a single AAV vector, which has been clinically validated for muscle delivery. Preclinical studies on EPI-321 have demonstrated its ability to robustly suppress pathological expression of the DUX4 gene and reduce muscle cell death. A first-in-human clinical trial of EPI-321 is planned for 2025.

About Epicrispr Biotechnologies

Epicrispr Biotechnologies is a biotechnology company pioneering gene-modulating therapies, leading with treatments for neuromuscular diseases. The company’s proprietary Gene Expression Modulation System (GEMS) enables precise, durable control of gene expression, unlocking first-in-class treatments for previously untreatable conditions. Epicrispr’s lead program, EPI-321 is in clinical trials for FSHD, and the company is advancing additional gene-modulating therapies. Epicrispr also has a research collaboration with Kite Pharma to develop next-generation CAR T-cell therapies. Learn more at www.epicrispr.com or follow us on LinkedIn.

About Ally Bridge Group

Ally Bridge Group is a global healthcare investment firm focused on private and public high-impact life science innovation. Founded in 2013 by Frank Yu, the firm has led or co-led over $6 billion in healthcare transactions. The firm’s mission is to generate superior risk-adjusted returns for investors guided by the core principle of selective investment in healthcare innovation that addresses unmet medical needs. Ally Bridge Group has offices in New York and Hong Kong. For more information, visit www.ally-bridge.com or follow us on LinkedIn.

 

To fund completion of the EMPOWER Trial U.S. pivotal study and continue the commercialization of the Carillon Mitral Contour System

KIRKLAND, WA—Cardiac Dimensions^®, a leader in minimally invasive treatments for heart failure and functional mitral regurgitation (FMR), today announced the close of an oversubscribed $53 million Series E financing round led by Ally Bridge Group with significant participation from existing investors. This financing will fund the completion of the EMPOWER Trial U.S. pivotal study and support the continued commercialization of the innovative Carillon Mitral Contour System^®.

“Cardiac Dimensions is uniquely positioned to provide a safe, simple, and effective solution for heart failure patients suffering from FMR. A financing of this magnitude reflects the strong conviction of Ally Bridge, as well as our existing insiders, in the Carillon^® therapy’s ability to play a central role in the treatment of this high-need patient population,” said Rick Wypych, president and CEO of Cardiac Dimensions.

“With these additional resources, we are also well-positioned to continue our global commercial expansion of the Carillon therapy to improve the lives of patients with this debilitating disease,” continued Wypych.

In addition to lead investor Ally Bridge Group, new investor Claret Capital Partners and existing Cardiac Dimensions investors Hostplus, M.H. Carnegie, Horizon 3 Healthcare, Lumira Ventures, and a confidential strategic investor significantly participated in the round.

“We are excited to lead this financing to help support Cardiac Dimensions’ significant advancements in the treatment of heart failure patients with FMR,” said Steve Plachtyna of Ally Bridge Group and new member of the company’s board of directors. “We have been very impressed with the progress the company has made over the past several years in both their clinical efforts and their expansion of commercial sales outside the U.S. This financing will fund and accelerate both of these efforts.”

The Carillon device is designed to restore natural mitral valve function without damaging the mitral valve leaflets. The simple, catheter-based procedure works by restoring the valve’s natural function and promoting favorable left ventricular remodeling. Clinical studies have shown the Carillon therapy reduces mitral regurgitation, improves quality of life, and has extended survival for a broad range of patients with FMR. Furthermore, patients with early-stage FMR may be treated with Carillon therapy as a front-line treatment option, as it does not prevent the use of other future therapies.

Functional mitral regurgitation is a prevalent condition among individuals with heart failure, which affects over 64 million people globally.¹ Studies indicate that moderate or greater severity of FMR is present in up to 59% of heart failure patients.²

When left untreated, FMR can lead to increased hospitalization due to heart failure, reduced quality of life and higher mortality rates.

About Cardiac Dimensions

Cardiac Dimensions^® is a leader in the development of innovative, minimally invasive treatment modalities to address heart failure and associated cardiovascular conditions. The company’s flagship technology, the Carillon Mitral Contour System^®, is designed to address functional mitral regurgitation (FMR) using a catheter-based approach. Cardiac Dimensions has operations in Kirkland, Washington, Sydney, Australia and Frankfurt, Germany.
For more information, visit www.cardiacdimensions.com.

Cardiac Dimensions, Carillon, and Carillon Mitral Contour System are registered trademarks of Cardiac Dimensions.

¹ www.pmc.ncbi.nlm.nih.gov/articles/PMC10398425/
² www.ahajournals.org/doi/10.1161/CIRCHEARTFAILURE.122.009689

Series C led by ARCH Venture Partners and TCGX with significant participation from existing and new investors Financing extends Arbor’s cash runway into 2027 and supports the clinical development of lead program ABO-101 and continued advancement of a broader portfolio of CNS-targeted gene editing therapeutics and reverse transcriptase (RT)-based editing programs

CAMBRIDGE, MA – March 18, 2025 – Arbor Biotechnologies™, a biotechnology company discovering and developing the next generation of genetic medicines, today announced the closing of a $73.9 million Series C financing to support the advancement of its pipeline of novel gene editing therapeutics targeting diseases in the liver and central nervous system (CNS). ARCH Venture Partners and TCGX led the financing, with participation from new investors QIA, Partners Investment, Revelation Partners, and Kerna Ventures and existing investors, including funds managed by abrdn Inc., Ally Bridge Group, Arrowmark Partners, Deep Track Capital, Piper Heartland Healthcare Capital, Surveyor Capital (a Citadel company), Temasek, T. Rowe Price Associates and Vertex Pharmaceuticals Incorporated.

The proceeds will support clinical development of the company’s lead therapeutic candidate, ABO-101, in primary hyperoxaluria type 1 (PH1) and progression to IND/CTA filing of its first-in-class programs, including an RT editing program for a rare liver disease and a program targeting amyotrophic lateral sclerosis (ALS).

“This financing is a testament to the hard work of our team as well as our consistent focus and capital-efficient execution in developing a differentiated portfolio of gene editing therapeutics with the aim of realizing a new generation of potentially curative genetic medicines for patients,” said Devyn Smith, CEO of Arbor Biotechnologies. “We are grateful for the support of this top-tier investor syndicate and their confidence in the Arbor team. With their backing, we are well positioned to make significant strides toward delivering novel gene editing therapeutics, including those targeting CNS diseases with high unmet need.”

The company’s pipeline is built upon a suite of proprietary, wholly owned genomic editors that enable a variety of functions, unlocking sophisticated and precise ways of editing the genome that offer unique properties, high specificity and broad therapeutic applications. Arbor is advancing its lead asset ABO-101—a liver-targeted gene editing therapeutic for the treatment of PH1—in RedePHine, a Phase 1/2, multi-center, open-label, dose-escalation clinical trial designed to evaluate its safety, tolerability, pharmacokinetics, pharmacodynamics, and biomarker activity in patients with PH1 (NCT06839235).

“Arbor is developing a differentiated portfolio with first-in-class potential to deliver on the promise of CRISPR-based genetic medicines,” said Keith Crandell, co-founder and partner at ARCH Venture Partners. “Arbor has established a track record of pipeline focus, coupled with execution and capital efficiency, to yield strong preclinical data supporting its pipeline. We are impressed with the team’s progress to date and are proud to support the advancement of these programs.”

About ABO-101

ABO-101 is a novel, investigational gene editing medicine designed to be a one-time liver-directed gene editing treatment that results in a permanent loss of function of the HAO1 gene in the liver to reduce primary hyperoxaluria type 1 (PH1)-associated oxalate production. PH1 is a rare genetic disorder in which enzyme deficiencies in the liver lead to the overproduction and buildup of oxalate, resulting in kidney stones eventually leading to end stage kidney disease and systemic oxalosis. ABO-101 is designed to knock down HAO1 gene expression in the liver, thereby providing durable reduction in oxalate production. ABO-101 consists of a lipid nanoparticle (LNP), licensed from Acuitas Therapeutics, encapsulating messenger RNA expressing a novel Type V CRISPR Cas12i2 nuclease and an optimized guide RNA which specifically targets the human HAO1 gene. ABO-101 is currently under evaluation in RedePHine, a Phase 1/2, multi-center, open-label, dose-escalation clinical trial designed to study its safety, tolerability, pharmacokinetics, pharmacodynamics, and biomarker activity in patients with PH1 (NCT06839235). ABO-101 has been granted orphan drug designation (ODD) and rare pediatric disease designation (RPDD) by the US FDA for the treatment of PH1.

About Arbor Biotechnologies, Inc.

Arbor Biotechnologies™, a next-generation gene editing company based in Cambridge, MA, is advancing a pipeline of novel gene editing therapeutics to address a wide range of genetic conditions – from the ultra-rare to the most common genetic diseases. The company’s unique suite of optimized gene editors, which is capable of approaches ranging from gene knockout, excisions, reverse transcriptase editing, and large gene insertion, goes beyond the limitations of early editing technologies to unlock access to new gene targets and has fueled a robust pipeline of first-in-class assets focused on diseases of high unmet need. With Arbor’s lead program, ABO-101 for the treatment of primary hyperoxaluria type 1, in clinical development, the company continues to focus their research and development efforts on genomic diseases of the liver and CNS for which there are no existing functional cures. For more information, please visit: arbor.bio.

KIRKLAND, Wash., March 07, 2025 (GLOBE NEWSWIRE) — Kestra Medical Technologies, Ltd. (Nasdaq: KMTS) (“Kestra”), a wearable medical device and digital healthcare company, announced today the closing of its upsized initial public offering of 11,882,352 common shares at a public offering price of $17.00 per share. The total gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Kestra, were approximately $202 million. All of the common shares were offered by Kestra. Kestra’s common shares began trading on the Nasdaq Global Select Market on March 6, 2025, under the ticker symbol “KMTS”.

BofA Securities, Goldman Sachs & Co. LLC and Piper Sandler acted as lead bookrunners for the offering. Wells Fargo Securities and Stifel acted as bookrunners and Wolfe | Nomura Alliance acted as co-manager for the offering.

A registration statement relating to the common shares sold in this offering was filed with the Securities and Exchange Commission and became effective on March 5, 2025. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com; from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by facsimile at 212-902-9316, by email at Prospectus-ny@ny.email.gs.com, or by calling 1-866-471-2526; or Piper Sandler, by email at prospectus@psc.com, or by calling (800) 747-3924.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kestra

Kestra Medical Technologies, Ltd. is a commercial-stage wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease using monitoring and therapeutic intervention technologies that are intuitive, intelligent, and connected.

Disclaimer

“Wolfe | Nomura Alliance” is the marketing name used by Wolfe Research Securities and Nomura Securities International, Inc. in connection with certain equity capital markets activities conducted jointly by the firms. Both Nomura Securities International, Inc. and WR Securities, LLC are serving as underwriters in the offering described herein. In addition, WR Securities, LLC and certain of its affiliates may provide sales support services, investor feedback, investor education, and/or other independent equity research services in connection with this offering.

Latest Funding Accelerates the Company’s Commercial Expansion

SAN JOSE, CA—VitalConnect^®, Inc., a leader in biosensor technology, specializing in ambulatory cardiac monitoring, today announced the closing of $100 million in financing through a combination of equity and debt capital. The equity financing was led by new investor Ally Bridge Group, with significant participation from the Company’s existing investors, including EW Healthcare Partners, MVM and Revelation Partners while Trinity Capital provided the debt financing. In conjunction with the financing, VitalConnect strengthens its Board of Directors with the addition of Steven Plachtyna from Ally Bridge Group and Eric Shiozaki from Revelation Partners.

“Four years after our commercial launch, VitalConnect has grown to be a leader in ambulatory cardiac monitoring,” said Peter Van Haur, Chief Executive Officer of VitalConnect. “Our best-in-class proprietary biosensor, coupled with the live streaming of eight vital signs and biometric parameters over a seven-day wear period, sets VitalConnect apart from the competition. Additionally, we continue to develop our in-patient remote patient monitoring offering in close collaboration with some of the leading healthcare facilities in the US. With the support of Ally Bridge and Trinity Capital, in addition to our existing investors, we are excited to expand our commercial presence, providing more patients with access to our life-saving technology.”

“Ally Bridge Group is pleased to lead this financing to accelerate VitalConnect’s growth, appreciating the company’s highly differentiated strengths in addressing conditions that significantly affect quality of life for millions of patients,” said Steven Plachtyna of Ally Bridge Group. “Vital Connect is well-positioned to continue its strong growth trajectory as a leading innovator in remote patient monitoring.”

“We’re excited to support VitalConnect and its innovative remote patient monitoring technology to enhance patient outcomes at a lower cost,” said Ryan Kaeding, Managing Director, Life Sciences at Trinity Capital.

About VitalConnect, Inc.

VitalConnect is a leader in biosensor technology, rapidly expanding its presence in the ambulatory cardiac monitoring market. Vital Connect leverages extensive expertise in biomedical engineering, data analytics, chip design, and mobile and cloud software to create technology that supports decision-making paradigms that achieve better health and economic outcomes. VitalConnect’s products are designed for use in a broad range of remote and in-patient settings. VitalConnect’s advanced, yet easy-to-use, platform, was designed to deliver better healthcare at lower costs while providing more convenience for the patients and healthcare providers. For more information: www.vitalconnect.com.