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Finch Therapeutics Raises $53 Million to Advance Microbiome-Based Therapies for Recurrent C. Difficile, Autism and other Disease Areas

Somerville, MA (August 22, 2019) — Finch Therapeutics Group, Inc., a clinical-stage microbiome therapeutics company, announced today the completion of a $53 million Series C financing. The financing comes from new investors including OCV Partners, Susquehanna International Group (SIG), Symbiosis LLC and the Trans-Pacific Technology Fund, as well as existing investors, including Avenir Growth Capital, Morgan Noble, Shumway Capital, and Willett Advisors.

Finch will use the Series C proceeds to advance its pipeline of novel microbial therapies, including CP101, a Full-Spectrum Microbiota® (FSM®) therapy delivered in an oral capsule that is designed to contain a diverse community of microbiota and restore a balanced microbiome. CP101 is currently being evaluated for the prevention of recurrent C. difficile infections (CDI) in Finch’s PRISM3 trial, a potentially pivotal clinical study. Compelling results from the PRISM3 trial may be sufficient to support FDA approval, based on recent communications with the agency.

The Series C proceeds will also enable Finch to accelerate the development of its FSM therapy for Autism Spectrum Disorder (ASD). ASD is a developmental disorder characterized by behavioral symptoms and often accompanied by gastrointestinal (GI) symptoms. Studies suggest that GI and behavioral symptoms may be linked to a disrupted microbiome. Finch is supporting an actively enrolling, Phase II, investigator-initiated clinical study (NCT03408886) evaluating the safety and efficacy of its FSM therapy in adults with ASD. Finch has also received FDA Fast Track designation for its pediatric ASD program.

Beyond CDI and ASD, Finch is continuing to expand its pipeline of microbiome-based therapeutics, including a pre-clinical Rationally-Selected Microbiota® (RSM™) program in Inflammatory Bowel Disease (IBD), in partnership with Takeda Pharmaceuticals.

“We are thrilled that this additional funding, coupled with the recent Breakthrough Therapy designation we received from the FDA, will enable us to accelerate our efforts to provide a new therapy to patients battling recurrent C. difficile,” said Mark Smith, CEO of Finch. “We also look forward to advancing our investigational therapies for ASD, IBD and other conditions linked to a disrupted microbiome.”

CP101 is not approved in any country. The FDA’s Breakthrough Therapy and Fast Track designations do not constitute or guarantee future approval and do not alter the standards for approval.

About Finch Therapeutics

Finch Therapeutics Group, Inc. (Finch) is developing novel microbial therapies to serve patients with serious unmet medical needs. Built on 30 years of translational research at OpenBiome, MIT, University of Minnesota and the Center for Digestive Diseases, Finch uses Human-First Discovery™ to develop therapies from microbes that have demonstrated clinically significant impacts on patient outcomes. Finch is unique in having both a donor-derived Full-Spectrum Microbiota® (FSM®)  product platform and a Rationally-Selected Microbiota® (RSM™) product platform based on microbes grown in pure culture. Finch’s lead program, CP101, is an investigational FSM  product for prevention of recurrent C. difficile  infections. Finch’s RSM platform employs machine-learning to mine Finch’s unique clinical datasets, reverse engineering successful clinical experience to identify the key microbes driving patient outcomes. Finch is using a rich foundation of clinical data to advance its pipeline, leveraging proof-of-principle results to evaluate target indications and inform the design of this new therapeutic class.

Full-Spectrum Microbiota, FSM, Rationally-Selected Microbiota, RSM, and Human-First Discovery are trademarks of Finch Therapeutics Group, Inc.

About Recurrent Clostridium difficile Infection (CDI)

Clostridium difficile infection (CDI) is the most common hospital-acquired infection in the United States. CDI is a bacterial infection that causes severe diarrhea and GI distress, and can be life-threatening. CDI often results from disruption of a patient’s microbiome following antibiotic use. Over 500,000 Americans are infected every year, with 25% or more of patients suffering a recurrence, or return of symptoms, resulting in substantial morbidity and healthcare costs.

About Autism Spectrum Disorder (ASD)

Autism Spectrum Disorder (ASD) is characterized by deficits in communication and social interaction and restricted/repetitive behaviors that interfere with daily living. Many individuals with ASD also suffer from chronic gastrointestinal symptoms such as constipation and diarrhea. Studies suggest ASD may be linked to a disrupted microbiome. Approximately 1 in 59 children in the US is diagnosed with ASD. There are no FDA-approved therapeutics that address the core symptoms of ASD.

About OCV Management LLC

OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and co-managed with Hemi Zucker, Managing Principal. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of over 22 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.

Press Contact: Gabriella Linville-Engler
media@finchtherapeutics.com

Museum of Ice Cream Founders Launch Figure8 with Series A to Transform How Millennials and Gen-Z Connect With Spaces and Each Other

Funding led by Elizabeth Street Ventures, Maywic Select Investment, and OCV Partners

New York, NY (August 14, 2019) — Founders of Museum of Ice Cream, Maryellis Bunn and Manish Vora, launch Figure8, an experience-first development company. Figure8, now parent company of Museum of Ice Cream, completed its first close of a $40M Series A round at a $200M valuation led by consumer venture capital firms Elizabeth Street Ventures, Maywic Select Investment, along with strategic investments from venture fund OCV Partners.

“We created Figure8 to chart the future of how Millenials and Gen Z will want to spend their time. Over the past 3 years building Museum of Ice Cream, we have learned so much from our guests and gained endless insight. Globalization and technology have made the world smaller, yet people are more lonely than ever” said Maryellis Bunn, 27-year-old Co-Founder of Figure8 and Museum of Ice Cream. “I want to inspire people around the world with what I call experiums, emotional and transformative moments and spaces for people to reconnect with themselves and those around them.”

Since Museum of Ice Cream’s conception in 2016, it has catapulted a cultural phenomenon and ignited an entire experiential industry. The company has welcomed over 1.5M visitors to locations in Los Angeles, New York, Miami, and San Francisco. The brand launched an ice cream line sold at Target and created high-profile partnerships with Platinum Card by American Express, a makeup collection with Sephora, and a kids clothing line at Target.

“Museum of Ice Cream receives an overwhelming amount of requests from companies asking us to design branded experiums for them,” said Manish Vora, Co-Founder of Figure8. “Now we can answer this need and more. Figure8 will expand internationally, rolling out a new Museum of Ice Cream location each quarter while also launching new Figure8 brands and working on commissioned special projects. ”

Will McClelland, Co-founder of Elizabeth Street Ventures, joins the board of Figure8. “Figure8 and Museum of Ice Cream are built on core tenets of imagination, connection and creativity. These are things that are part of a shared human experience and so important to how we live and improve our daily lives,” says, McClelland. “Elizabeth Street is incredibly excited to support this endeavor and bring memorable experiences to people around the world.”

Frederic Mayerson, Chairman & Managing Partner of Maywic Select Investments said, “Museum of Ice Cream has redefined the expectations and influence of experiences with explosive growth. Figure8’s team has a unique ability to tap into the mindset of today’s customers and will continue to revolutionize the industry it has helped create.”

Figure8 currently has a team of 35 at its NYC headquarters and is growing its senior leadership for global expansion. Andrew Lumsden joins as SVP of Operations bringing over 20 years of experience working with food, beverage, and hospitality brands including Zuma, The Ace Hotel, The Spotted Pig, Noho Hospitality and Stephen Starr. Peter Sun joins the team as Vice President, Brand & Marketing with over a decade of experience building global brands including P&G, Unilever, Hilton, LVMH, HSBC, Volvo, and more.

About FIGURE 8

Figure8 is an experience first company that creates experiums, places outside of distraction, away from expectation, and beyond inhibition to get lost and found. We invite guests to take a moment to recognize, realize, and reignite relationships with the people and places around them. The potential is limitless.

About OCV Management LLC

OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and co-managed with Hemi Zucker, Managing Principal. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of over 22 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.

Press Contact: press@figure-8.co

OSSIO Secures $22 Million in Financing

Proceeds to Be Used for US Commercialization and Operational Expansion

WOBURN, MA., March 11, 2019 — OSSIO, an orthopedic fixation company, today announced the closing of $22 million in equity financings led by OCV Partners, a Los Angeles based venture capital firm, with continued participation from existing investors Ortho Vision LLC and Secocha Ventures.

OSSIO has raised a total of $35 million to date. The Company will use these funds to accelerate strategic growth initiatives, including talent acquisition, commercialization, new product development and operational expansion.

In January, OSSIO received 510(k) market clearance from the U.S. Food & Drug Administration for its OSSIOfiber™ Bone Pin Family, a first-of-its kind implant system that uses a proprietary bio-integrative material to provide stability and maintain the alignment of bone fractures, osteotomies, arthrodesis and bone grafts during the healing process, leaving no permanent hardware behind. Offering physicians and their patients a new category in fixation implants, the OSSIOfiber™ platform provides an unprecedented combination of mechanical strength and natural bone healing in a non-permanent implant. While OSSIOfiber™ will have broad application across the spectrum of orthopedic fixation, its first commercial use is focused in the foot and ankle segment for the treatment of forefoot conditions where hardware removal surgeries are prevalent.

“Following receipt of FDA clearance in January, we are moving forward with the commercial launch of OSSIOfiber™ in the United States. This financing provides us with the necessary capital to accelerate our core strategic growth initiatives to ensure we have the inventory and support to meet the anticipated demand for the OSSIOfiber™ technology,” said Brian Verrier, CEO, OSSIO. “We are honored that OCV, Ortho Vision and Secocha Ventures, together with the rest of our strong group of investors, stand behind our breakthrough fixation technology and our overall vision to transform the orthopedic experience for patients, physicians and payors.”

“OSSIO has created a novel bio-integrative fixation platform that we believe has the potential to disrupt the global orthopedic fixation market,” said Mark Yung, Co-Founder and Managing Principal, OCV Partners. “With its unparalleled bio-integrative platform and unique ability to address multiple surgical applications and segments, OSSIOfiber™ Intelligent Bone Regeneration Technology offers a highly differentiated fixation approach that is stronger than bone and fully incorporates into the native anatomy, minimizing implant-related complications and the need for additional surgeries.” Zohar Loshitzer, Principal at OCV, will be joining the OSSIO Board of Directors, effective immediately.

About OSSIOfiber™ Intelligent Bone Regeneration Technology

Designed for rapid bone in-growth, regeneration and replacement, OSSIOfiber™ Intelligent Bone Regeneration Technology is a first-of-its-kind implant material stronger than cortical bone that leaves nothing permanent behind. OSSIOfiber™ is engineered to provide the strength required for functional fixation and allows for full integration into the native anatomy without adverse biological response. OSSIOfiber™ implants utilize existing reimbursement and surgical techniques. The OSSIOfiber™ Bone Pin Family represents the first of several regulatory approvals for the company and is cleared for use in the United States for maintenance of alignment and fixation of bone fractures, osteotomies, arthrodesis and bone grafts in the presence of appropriate additional immobilization.

About OSSIO

OSSIO is an orthopedic fixation company committed to transforming the orthopedic experience for patients, physicians and payers. Founded in 2014, its vision is to provide the first credible replacement to metal implants in the multi-billion-dollar global orthopedic fixation market with its OSSIOfiber™ Intelligent Bone Regeneration Technology. OSSIO’s development headquarters is located in Caesarea, Israel, and its commercial headquarters is in Woburn, Massachusetts. For more information on the company visit www.ossio.io.

About OCV Management LLC

OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and Mark Yung in 2016. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of 19 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.

Forward-looking statements contained herein are based on estimates and assumptions of OSSIO management and are believed to be reasonable, though they are inherently uncertain and difficult to predict.

Invoice2go Raises $10 Million, Attracting New and Existing Investors, and Hemi Zucker from OCV Partners to join the Board of Directors

REDWOOD CITY, Calif., Sept 11, 2018 — Invoice2go announces it has closed a $10 million equity round led by OCV Partners, with additional participation from existing investors Accel and Ribbit Capital. Hemi Zucker of OCV Partners joins the Invoice2go Board of Directors. Previously, as co-founder and CEO of j2 Global (JCOM), Zucker grew the organization into a global platform servicing 50+ markets. The new investment brings the total equity raised by Invoice2go to $60 million. The new funding fuels Invoice2go’s product innovation and rapidly growing offering for small businesses.

Invoice2go, the mobile invoicing app that gives small business owners and contractors control over their time and business, helps more than 250,000 customers around the globe send $24 billion in invoicing every year.

“Offering our customers a straightforward way to manage their business has fueled our mission from the beginning,” said Greg Waldorf, CEO of Invoice2go. “It’s this relentless dedication and unique approach to solving the challenges shared by small business all over the world that continues to attract not only investment, but momentum with the community we serve.”

Invoice2go will use the funding to accelerate its mission, and serve even more business owners with intuitive new ways to win jobs, track estimates and payments, and enable their customers to pay any way.

The company continues to significantly evolve the Invoice2go offering, releasing powerful, yet simple-to-use features that help business owners not only better manage their business, but also win more jobs, and grow as a result. The latest features released include Time Tracking, a seamless way to capture and bill for time, Appointments, a way to create and manage appointments on the go, and the ability to collect up front deposits.

“By understanding the true needs of their customers, Invoice2go has been able to build a powerful product that’s given more than 250,000 business owners the right mobile tools to stay on top of their business, and the confidence they are operating in the most professional, efficient way possible. We’re excited to join them on their mission to help even more people around the world not only manage, but meaningfully grow their business,” said Hemi Zucker, Managing Principal of OCV Partners.

About Invoice2go
Invoice2go is the mobile invoicing app that gives small businesses control over their time and business. Invoice2go gives its customers straightforward tools to track jobs, stay on top of payment status, and offer their clients the ability to pay any way so they can get the job done. The company was started by a small business owner who came from a family of tradespeople and wanted to help them streamline invoicing and getting paid. Today, Invoice2go’s popularity has spread around the globe, with more than 250,000 small business owners in 160+ countries using the app to send $24 billion in invoicing every year. For more information, visit invoice.2go.com.

OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and Mark Yung in 2016. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of 19 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.

Precision BioSciences Raises $110M to Advance ARCUS Genome Editing Programs

DURHAM, North Carolina, USA, June 26 2018 –Precision BioSciences today announced the closing of an oversubscribed $110M Series B financing to further product development efforts based on its ARCUS® genome editing platform. The financing was led by ArrowMark Partners and was joined by new investors Franklin Templeton Investments, Cowen Healthcare Investments, Brace Pharma Capital, Pontifax AgTech, OCV Partners, Adage Capital Management, Cormorant Asset Management, Gilead Sciences, Vivo Capital, Alexandria Venture Investments, Ridgeback Capital, Agent Capital, and entities affiliated with Leerink Partners. Existing investors venBio, F-Prime, RA Capital Management, Amgen Ventures, Osage University Partners, DUMAC, and the Longevity Fund also participated in the financing.

Precision intends to expand applications of its ARCUS genome editing platform in the areas of immuno-oncology, genetic disease, and food on its way to building a fully integrated biotechnology company. ARCUS is Precision’s proprietary, homing endonuclease-derived genome editing platform that leverages the small size and high specificity of a natural genome editing system. During 2018, Precision plans to utilize the proceeds from this financing to accelerate and expand its product portfolio. Specifically, Precision targets taking its lead, off-the-shelf CAR-T product into the clinic while advancing both its lead in vivo gene therapy program into IND-enabling studies and its flagship food program into field trials.

“We are thrilled to have such strong support from these leading healthcare investors who share in our vision for the future of human health through innovations in food and medicine,” said Matt Kane, CEO of Precision. “This financing provides us with a strong foundation from which we can advance our translational genome editing programs in multiple sectors.”

In conjunction with the Series B financing, Tony Yao of ArrowMark Partners has joined the Precision Board of Directors alongside existing directors Matt Kane, Derek Jantz, CSO of Precision, and Robert Adelman of venBio.

“We believe that Precision’s core gene editing technology represents a new way to alter the genome, and we are utilizing this technology to address several areas of great unmet need,” said Tony Yao, M.D., Ph.D. “I look forward to working with the team as we advance our programs.”

Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP acted as outside counsel to Precision in connection with the financing.

About Precision BioSciences
Precision BioSciences is dedicated to improving life. Our mission is to cure genetic disease, overcome cancer, and feed the planet. We are striving to achieve this goal with ARCUS, our therapeutic-grade, naturally-derived genome editing system that combines both specificity and efficacy to help overcome life’s greatest genetic challenges. For additional information, please visit www.precisionbiosciences.com.

About OCV Management LLC
OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and Mark Yung in 2016. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of 19 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.

 

Hemi Zucker to Join OCV Management as Managing Principal

LOS ANGELES – OCV Management LLC (“OCV”), a technology investor based in Los Angeles, announced today that Nehemia (“Hemi”) Zucker will be joining the firm as Managing Principal starting on January 1, 2018. Until such date, Hemi will continue as CEO of j2 Global Inc. (NASDAQ:JCOM). As disclosed in today’s press release issued by j2 Global, the company also plans to commit $200 million to invest with OCV to pursue the company’s venture growth strategy under an entity of j2 Global.

As Managing Principal at OCV, Mr. Zucker will co-manage the firm alongside Mark Yung, OCV’s co-founder and Managing Principal. Hemi brings to OCV a breadth of experience spanning 21 years at J2 Global®, where he served as its President from 2005 before becoming the company’s CEO in 2008. Previously, Hemi also served as COO, CMO and CFO of the company. Hemi has been integral in leading the growth of j2 Global from $105,000 of revenue in 1996, when he joined the start-up, to approximately $1 billion in the trailing four quarters ended June 30, 2017. Between 2001 and 2016, j2 Global’s stock price increased at over an impressive 40% CAGR. Today, j2 Global stands as one of the largest publicly traded technology companies based in Southern California, as well as, the global second most active strategic acquirer between 2014 and 2016, according to AGC Partners. Under Hemi’s leadership, j2 Global has completed over 155 acquisitions, helping the company expand into new markets, such as Cloud Services, Patent Licensing and Digital Media. Before that, he spent 16 years at Motorola in various divisions in finance and operations, participating in the consolidation of paging carriers via M&A, as well as pioneering the Cellular and Wireless Data Business as a service provider both in the US and Israel.

“OCV’s mission is to invest in technology oriented companies that can build long term value through differentiation, creativity and sound management. Hemi’s success in transforming j2 Global from a start-up into a leading global technology platform across unified communications, cloud services and digital media is a perfect complement to our firm’s mission,” said Mark Yung.

“Following my success at j2 Global®, I am excited for this next chapter of my career, with the goal of helping young companies grow into successful businesses. I look forward to joining OCV, where we will remain focused on creating value for OCV’s limited partners by investing in a new generation of companies.” said Hemi. “I look forward to working closely with Mark to leverage the team’s combined skills and partner with tomorrow’s market leading platforms.”

About OCV Management LLC
OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and Mark Yung in 2016. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of 19 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.