Fintech PR

Arix Bioscience plc: Aura Completes $40 Million Series D Financing

Published

6 years ago

April 2, 2019

Newsfile

Reading Time: 2 minutes

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF THE EU MARKET ABUSE REGULATION NO.596/2014

Arix‘s total interest in Aura increases to £8.5 million from £3.9 million
Arix commits $4.5 million (£3.4 million^[1]) to increase its stake to 7.7%
Proceeds to be used to support late stage clinical development; Phase 3 trial expected to start in H1 2020

Arix Bioscience plc (“Arix”) (LSE: ARIX) a global venture capital company focused on investing and building breakthrough biotech companies, today announces that it has committed $4.5 million (£3.4 million^[¹^]) to the $40 million (£31 million) Series D financing (“the financing”) of Aura Biosciences (“Aura”), a leader in the development of novel targeted therapies in ocular oncology.

Following this commitment, Arix increases its stake to 7.7% on a fully diluted basis. Arix Investment Director Mark Chinwill continue to serve on the Aura Board. The financing recognised a 33% uplift in the book value of Arix’s Series C investment in Aura, with Arix’s total interest in Aura increasing to £8.5 million from £3.9 million on a fully committed basis.

Aura plans to use the proceeds from the Series D to support the late stage clinical development of its lead asset, light-activated AU-011, for the treatment of primary choroidal melanoma. The currently available treatments for choroidal melanoma come with the risk of severe vision loss and other long-term sequelae, especially for patients with melanomas located close to the fovea or optic disk. The ongoing Phase 1b/2 study with light-activated AU-011 has shown that the drug was well-tolerated, with clear evidence of tumor control and preservation of visual acuity at long term follow up, even in high risk patients. Aura has been granted Orphan Drug and Fast Track status from the U.S. Food & Drug Administration (FDA) and expects to initiate a registration trial in 2020.

Medicxi served as the lead new investor. In addition to Arix, Aura’s existing investors Lundbeckfonden Ventures, Advent Life Sciences, Chiesi Ventures, Ysios Capital, Alexandria Venture Investments, Columbus Venture Partners, LI-COR Biosciences and several individual investors, including the estate of Henri Termeer, participated in the financing.

Joe Anderson, Chief Executive Officer of Arix, commented:
“Aura has made significant clinical progress with its lead candidate in development for primary choroidal melanoma, a rare and aggressive eye cancer, and is preparing for a Phase 3 study. We look forward to working alongside the world class management team and new and existing investors to accelerate development of this potential new treatment.”

Elisabet de los Pinos, Ph.D., Chief Executive Officer of Aura, commented:
“The additional funding provided by this Series D financing enables Aura to continue to execute on our goals of developing the first targeted treatment for patients with primary choroidal melanoma, a life and vision threatening rare disease with no drugs approved. We are delighted to have the continued support from Arix, and our new and existing investors, as we enter this next stage of growth for the Company.”

SOURCE Arix Bioscience plc

Fintech PR

GSCF Launches Connected Capital with Next-Gen Working Capital Management Solution

Published

1 hour ago

November 21, 2024

CISION (PR Newswire)

Integrating Alternative and Bank Capital on One Powerful Servicing Platform

NEW YORK, Nov. 21, 2024 /PRNewswire/ — GSCF, a leading global provider of working capital solutions, today announced the launch of its enhanced cloud-enabled liquidity management platform and the creation of the Connected Capital ecosystem. Developed on a fully modernized technology stack, this innovative platform is designed to support a financing ecosystem that seamlessly connects alternative capital and bank financing.

GSCF’s highly configurable technology platform is unique as a one-stop solution for optimizing financial operations and accelerating growth, empowering companies and their funding partners to manage the end-to-end working capital cycle. The integration of funding sources can benefit a wide range of companies seeking to complement their core bank funding with access to alternative capital, including large investment grade enterprises and extending to mid-sized companies operating in riskier jurisdictions and industry verticals.

GSCF activated its Connected Capital ecosystem through a multi-year development program aimed at modernizing and consolidating its servicing and funding platforms. The Company has now completed the migration of its currently supported working capital programs, representing approximately $60 billion in annual funding volume, onto the new Connected Capital platform which provides:

Full-Scope Risk Coverage: One platform that offers broad-spectrum risk coverage by combining the flexibility of alternative capital solutions with the efficiency of bank funding
Tailored Solutions to Unlock New Growth: Co-creation of custom working capital programs to meet the unique needs of a business
Actionable Insights: A powerful data warehouse supporting advanced analytics tools that dynamically enhance working capital decision-making and provide real-time insights into performance
Expert Managed Services: Experienced professionals capable of addressing complex program requirements and delivering efficiency through automated workflows and streamlined operations

“By leveraging our cloud-enabled platform and deep industry expertise, we are empowering organizations to unlock the full potential of their working capital strategies,” said Doug Morgan, GSCF’s Chief Executive Officer. “Our advanced platform provides a seamless and efficient way to tailor funding to meet specific needs, enabling our clients to focus on their core business and access the capital needed to fuel expansion.”

With this significant technology investment and by combining the power of funding and servicing, GSCF has further extended the scope of the Working Capital as a Service (WCaaS) solutions it delivers to corporate customers and their funding partners to address real-time liquidity in a manner that supports sustainable growth. It also positions GSCF to meet the needs of currently underserved sectors, including mid-size companies that currently lack access to capital sources which fit their specific risk profile.

About GSCF

GSCF is the leading global provider of working capital solutions. The company empowers companies and their financial institution partners to accelerate growth, unlock liquidity and manage the risk and complexity of the end-to-end working capital cycle. GSCF’s innovative Working Capital-as-a-Service offering combines the power of an end-to-end Connected Capital technology platform with expert managed services and alternative capital solutions. GSCF’s team of working capital experts operates in over 75 countries, offering a truly global and holistic perspective to solve working capital efficiency challenges. Visit www.gscf.com to learn more.

Contact Information:

GSCF
Natalie Silverman
Chief Marketing Officer
[email protected]
(609) 577-5083

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View original content:https://www.prnewswire.co.uk/news-releases/gscf-launches-connected-capital-with-next-gen-working-capital-management-solution-302313195.html

Fintech PR

Zenoo refining services with AI

Published

1 hour ago

November 21, 2024

CISION (PR Newswire)

UK tech company Zenoo sees AI as key component to greater efficiency as it expands its offering to small businesses

CAMBRIDGE, England, Nov. 21, 2024 /PRNewswire/ — Over the last few years digital onboarding provider Zenoo has been exploring the use of AI to refine and improve its services and it has now become a key component in its evolution goals.

The company has already improved team performance by using AI to improve internal efficiency with automated meeting notes and follow up, plus the production of draft technical and contract documentation.

It has also explored the use of AI in automating routine coding tasks; as a natural language to code generator; and in code reviewing and debugging.

In addition, the use of AI is aiding Zenoo in opening up its services to smaller businesses as it allows the organisation to be more cost effective and reduce the time it takes to complete projects by around 35%. It does this by relieving developers of routine work and allowing them to focus on added value and innovative areas within product development. The net result for customers is an overall cost reduction.

Zenoo UK managing director George Taylor said: “Zenoo will continue to focus on AI as a cost effective way to expand and scale the business over the coming years.”

Next year, Zenoo will employ a specific team tasked with staying ahead of curve in AI development and identifying further ways it can improve business performance and customer offerings.

About Zenoo

Zenoo specialises in the remote onboarding of customers for international companies to help them improve their conversion rates, breaking down barriers and making it easier for their customers to open accounts online.

Visit partner.zenoo.com for further information.

Media enquiries

Contact Bruce Ackland on +44 7884 076548 or email [email protected]

View original content:https://www.prnewswire.co.uk/news-releases/zenoo-refining-services-with-ai-302313194.html

Fintech PR

Bybit Waives P2P Transaction Fees for Users in Africa

Published

1 hour ago

November 21, 2024

CISION (PR Newswire)

bybit-waives-p2p-transaction-fees-for-users-in-africa

DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to reaffirm its commitment to providing ease of access to digital assets for eligible P2P users in Africa at zero fee. Connecting buyers and sellers at no cost, Bybit P2P continues to be the benchmark for cost-effective and convenient trading experiences.

Since its launch in Jan. 2022, Bybit P2P has consistently provided a user-friendly platform for users seeking a safer way to participate in the digital asset class. The services are offered at no costs for merchants and takers in P2P transactions:

Merchants: Merchants may post advertisements on Bybit P2P for free.
Takers: Users may place an order through advertisements listed on the P2P platform at no costs. The offer stands across all fiat trading pairs. Third-party fees may incur depending on the payment method chosen, as the payment providers may charge a transaction fee.

P2P Fee Structure (Africa)

	Taker Fee (Sell Page)	Maker Fee (Sell Page)
Bybit	0 %	0 %
Competitor B	0.5% on completed orders for certain trading pairs	0 % Advertisement

In addition, Bybit has launched an exciting P2P Coupon Giveaway Campaign from now to Jan. 15, 2025. As part of this initiative, users can earn a share of up to 20,000 USDT in rewards by completing tasks such as depositing $100 or trading $50,000 through Bybit P2P. The rewards will be in the form of Bybit P2P coupons to be redeemed in the next purchase, making the zero-fee transactions an even better deal for winners.

“Bybit’s steadfast commitment to contributing to financial inclusion comes in all forms, and keeping our P2P services free for as long as we can, and for as many users as possible, is one of the ways to support the crypto community,” said Joan Han, Sales and Marketing Director at Bybit. “When users come to our platform with the hopes of generating income on their assets, we want to play a supportive role in helping them reach their personal financial goals,” she added.

P2P on Bybit offers an intuitive and cost-effective peer-to-peer trading platform, facilitating the buying and selling of two users’ holdings at an optimal, agreed-upon price between them. With Bybit P2P, users stand to benefit from Bybit’s enterprise-level security and advanced features including comprehensive built-in KYC and KYB verification mechanisms, rigorous asset management protocols, and 24/7 customer service.

Find out more about the event and eligibility at Bybit P2P.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
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