KIYATEC

KIYATEC Announces New B2 Financing and New Investor LabCorp

We are very pleased to pass along news of KIYATEC’s Series B2 fundraising, led by VentureSouth with participation from LabCorp and several co-investment partners.

You can read more on KIYATEC’s site and below. Congratulations to Matt Gevaert and the team for their continued hard work and success.

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KIYATEC Announces $3 Million Initial Closing of Series B2 Preferred Stock Financing and New Investor LabCorp

GREENVILLE, SC. – May 1, 2019 – KIYATEC, Inc., today announced the initial $3 million closing of the company’s series B2 financing round. The round was led by VentureSouth and included LabCorp® (NYSE: LH).

“This validation and confidence by our investors, coupled with the exciting progress of our clinical trials, puts us on the path toward the next phase of growth and development,” said Matthew Gevaert, CEO of KIYATEC. “We are particularly excited to welcome LabCorp as a new investor because of the depth and breadth of their expertise in oncology. With the preclinical and clinical development strengths of LabCorp’s Covance Drug Development business, and their corporate position as a world leader in clinical testing, there is great potential synergy across the many ways KIYATEC’s technology can be used to improve cancer care.”

Proceeds from the financing will go toward KIYATEC’s ongoing clinical study, 3D-PREDICT, to validate KIYATEC’s proprietary assay as a patient-specific predictor of response to cancer therapies for solid tumors. The test analyzes a patient’s live cancer cells, grown in KIYATEC’s laboratory within a biologically relevant 3D microenvironment, to determine whether those cells respond to guideline-recommended cancer drugs. The 3D-PREDICT study is a fully prospective, multi-institutional effort to validate the predictive accuracy of the test and correlate response predictions to clinical outcomes among patients with newly diagnosed and relapsed ovarian cancer, glioblastoma and certain rare tumors.

The company has gained significant momentum in 2019. Recently, at the 110th Annual Meeting of the American Association for Cancer Research (AACR), KIYATEC demonstrated leading capabilities in modeling and predicting response to immuno-oncology therapies including checkpoint inhibitors. On April 10, KIYATEC was one of 20 companies recognized nationally on Capitol Hill as part of the 2019 University Innovation & Entrepreneurship Showcase. In the first quarter of 2019, KIYATEC added three clinical sites to its 3D-PREDICT study and expects to continue its momentum by adding additional sites in the second and third quarters.

About KIYATEC, Inc.
KIYATEC is dedicated to accurately modeling and predicting cancer patient response to drug therapies, using ex vivo 3D cell culture technology, in order to inform clinical decision making and drive drug development. Our predictive clinical tests provide oncologists with patient-specific response profiles to current standard of care drugs prior to treatment selection. Our predictive 3D models are being used by leading biopharmaceutical companies to increase the success of their preclinical and clinical drug development programs as they develop the cancer therapies of the future.

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VentureSouth portfolio news - summer 2018

KIYATEC led the big news this summer, with the admittance of the first patients to its first clinical trial. Learn more here and in Bloomberg.

Other portfolio companies continued their impressive momentum too:

Kwipped - featured in Hypepotamus, a tech start-up site, and are entering the metrology equipment market.

Proterra - announced a sale to Toronto Transit Commission, are offering high-powered charging systems, are helping create double-decker electric buses, and are delivering buses in Dallas, to the Eastern Contra Costa Transit Authority, and in Chicago. Keep rollin'.

Spiffy - New portfolio company (announced here) launched its Spiffy Blue, an on-board diagnostics sensor that will monitor your vehicle's health information. This announcement was also picked up by the Triangle Business Journal.

New portfolio company Emergo Therapeutics was featured in The Triangle's WRAL TechWire - another stellar entrepreneurial management team that we're pleased to add to the VentureSouth portfolio.

TiO - has teamed up with Level Homes in the Triangle. Their product was also added to a new home for a wounded veteran and his family through Operation Coming Home.

Threatswitch continues to roll out new features - this month smart filtered views.

Livi is a life-saver - and available on Amazon.

And Reveal Mobile and Proaxion are on the main stage at the CED Tech Conference in September.

KIYATEC's clinical trial milestone

We are proud to celebrate KIYATEC's announcement that it has begun admitting patients to its first clinical trial.

You can learn more about the new trial studying KIYATEC's ability to predict treatment outcomes for certain cancer patients in its press release, on KIYATEC's website, and in other coverage.

This is a major milestone for KIYATEC, and the culmination of several years of painstaking and groundbreaking work developing and validating its technologies and predictive capabilities.

As the coverage in Bloomberg notes, it is also a great story of collaboration between hospital systems, state/funding entities, private capital like VentureSouth's members ($1.5M invested and counting!), scientific talent, the National Cancer Institute, and many more.

Many years of hard work are ahead, but being able to predict which drugs will be most effective on an individual's cancer will be worth the effort. Keep up the good work!

VentureSouth portfolio news - Spring 2018

The VentureSouth portfolio continues to blossom in the spring of 2018. Here are a few highlights from the last few weeks.

Zipit - announced that it has joined Amazon Web Services' partner network.

Atlas Organics - continues to grow in Chattanooga, this time on commercial food waste collection with EPB. They received the James B. Thompson Small Business of the Year Award for their growth and innovation in Spartanburg, and were featured by GVL Today* for an article informing readers how to compost in Greenville. 

*GVL Today is a product of 6AM City, another VentureSouth portfolio company. You should definitely be on their list...

Baebies - March's BaebieTalk newsletter tackled Pompe and raises awareness of Fabry Awareness Month, and the May letter covered more on baby diagnostic issues.

Reveal Mobile - Brian Handly, CEO of 2017 investment Reveal Mobile, has a regular feature in Forbes. Last month's covered how mobile data helps measure retail foot traffic.

Emrgy - its hydropower design and frictionless magnetic gearbox was featured in Clean Technica and CEO Emily Morris was interviewed by Renewable Energy Magazine

TiO Home - informative and detailed feature in Florida Today

Avadim - announced that its patent applications have been allowed in the U.S. and Japan relating to a method for reducing the incidence of catheter-associated urinary tract infections

Kwipped - launched a new version of their website to simplify their users' experience. CEO Robert Preville sat for an interview with PYMNTS for their latest "Topic TBD" podcast. They pitched at the Silicon Valley Open Doors Tech Conference at the end of May, Robert was interviewed by Business North Carolina to discuss their participation there, and they were featured on WECT news regarding the Silicon Valley conference.

KIYATEC - expanded its leadership team with the appointments of Vice Presidents of Clinical Affairs and Commercial Operations

Brightfield Transportation - Tuck Social Venture Fund (TSVF), a student-led impact investing fund at Dartmouth, has invested in Brightfield

 

VentureSouth portfolio news - January and early February 2018

2018 has started at a blistering pace. We were delighted to start the year with a good exit at FarmShots, but our portfolio companies continue to develop quickly. Updates include:

Portfolio news - Wrapping up 2017

2017 was a very productive year for VentureSouth portfolio companies. We are proud of their progress and achievements, so wanted to pass along a few additional awards, links, self-promotion, and recognition of them.

Bring on 2018!

Portfolio news - May 2017

The spring continues to be productive for VentureSouth's portfolio companies. Here is a recap of recent progress on marketing and product development

Plum Print: received nationwide exposure in the Washington Post (subsequently re-circulated through the Rockies in the Denver Post to the Pacific in the Bend Bulletin!) - and was Sarah Michelle Gellar's top pick for Mothers Day. You can see their elevator pitch on MSNBC and on Hulu.

Kwipped: announced the launch of its equipment leasing program. If you would like to rent-to-own equipment, Kwipped now helps you find the equipment AND find ways to finance it. Learn more from Robert on the SE Tech Podcast from this month.

Avadim: announced another partnership, this time with Ocean X for a direct to consumer subscription channel.

Proterra: it wouldn't be a monthly update without something on Proterra. This month we have a new cold weather package and diagnostics kits and a test of the bus in Greenville. Not cool enough? How about (semi) autonomous buses?

Building up products, teams, and revenues are (of course) crucial for growth. But we are always mindful of exit preparation, and so are pleased to see when portfolio companies add to their patent suite - making themselves more attractive to potential strategic buyers.

Congratulations therefore to Zipit (here - receiving its 10th patent),  KIYATEC (here), Pharmright (here), and Brightfield (here) on expanding their patent portfolios in the last few weeks.

Portfolio news - November / December 2016

Several exciting updates from the last few weeks.

Proterra leads the way, with coverage in Forbes - and with press on three recent deals: (1) 15 new buses funded by the San Joaquin Valley Air Pollution Control District; (2) in the Chicago Tribune of an announcement in late October about a partnership with JLL to deliver 10 Catalyst buses for a service operating between Chicago’s commuter train stations the Prudential Plaza and Aon Center, both JLL-managed properties, in Chicago; and (3) the Pioneer Valley Transit Authority in Massachusetts.

Target Pharma continues to outperform, announcing its fourth disease community in partnership with Bristol-Myers Squibb - following its earlier announcement in partnership with Intercept Pharmaceuticals.

KIYATEC is not far behind - moving by popular acclaim from a startup to a breakout success. Keep up the good work.

Pharmright is accelerating nationally - demo'ing the Livi from Missouri to Maine.

Avadim announced its recognition by Vizient for the innovation of its technology and its plans to make $3.1 million of products per week at its new facility.

And lastly Crowdr provided a sneak peak of its mobile app Booster that launches in January. See you on there!

More portfolio news - June 2016

It was a busy month for our portfolio companies. As well as the opening of the Atlas Organics facility and our new investment (Asheville Angels' 10th) in Brightfield Transportation, our portfolio companies have been reaching milestones and making headlines:

OB Medical: Fetal heart monitoring device manufacturer announces its product launch after a successful trip to the Association of Women’s Health and Neonatal Nurses convention. A huge milestone towards to improving the experience of mothers during delivery - a subject close to our hearts.

Baebies: CEO Rich West was recognized as the 2016 Life Sciences CEO of the Year by the Triangle Business Journal. He is one of many very talented leaders in our portfolio. Baebies also added stellar board members, including the former Chairman and CEO of Medtronic.

KIYATEC: Announced a partnership with the Mayo Clinic to combine their complementary technology platforms for ovarian cancer clinical care.

ActivEd: At the ISTE 2016 conference in Denver, ActivEd founder Dr. Julian Reed presented his research on the impact of moving on cognition, as the company was showcased across the conference.

Plum Print: Went to the White House!

 

Portfolio news - May 2016

Several VentureSouth portfolio companies have had positive announcements and press recently, so quickly wanted to share our congratulations on their continued hard work and success.

KIYATEC: Announced their Scientific Advisory Board, adding more world class talent to an already stellar team.

Proterra: Continue to sell their electric buses - this time 25 at once, to SEPTA in Philadelphia. Would be nice to have a few more of these on the roads in South Carolina!

Baebies: Publicly announced the launch of its near birth newborn testing platform, FINDER.

Zipit: Agreed a partnership with Iron Bow Technology to serve federal agencies more efficiently.

World-leading technologies, cutting-edge science, and real sales - all from tech startups in the Carolinas. Keep it up!