Healthcare

Addiction Biotech Cannabis Genetics Healthcare Medical Devices Pharmaceutical Science Veterinary
News Release Digital Asset Direct

IBM and Algorithmiq join forces to pave the way toward useful quantum advantage for quantum chemistry

Algorithmiq

Algorithmiq, a Helsinki-based quantum computing startup, has entered into an engagement with IBM to progress in its exploration of quantum algorithms that attempt to solve complex issues in life sciences. This collaboration brings together IBM's world-leading hardware, software and quantum applications expertise with Algorithmiq's cutting-edge algorithm developers, to explore ways to dramatically cut the time and cost of drug discovery and development. The work will also contribute any work produced to Qiskit, an open-source SDK for quantum computers, with the aim of promoting and developing this nascent ecosystem. As part of the engagement, Algorithmiq will become part of the IBM Quantum Network. IBM’s researchers are collaborating with Algorithmiq to address how to overcome the main bottlenecks in today’s noisy quantum hardware, such as limited speed, accuracy, and scale, for large quantum chemistry simulations. Algorithmiq’s novel measurement techniques have shown to greatly reduce runtime in hybrid quantum-classical algorithms. In addition, Algorithmiq’s post-processing strategies for error mitigation have shown to significantly improve the accuracy of quantum chemistry simulations. Therefore, this collaboration looks to yield promising results to boost the performance of quantum algorithms on near-term quantum technology. Founded by a team of world-leading academics in the field, Algorithmiq is focused on leveraging the power of quantum computing so that new drugs can be explored and eventually brought to market, and cost-effectively, leading to precise medical treatments. On average, it currently takes around a decade and $1 billion for a new drug to get to market. Algorithmiq's advances are estimated to reduce the time-to-market of new, more efficient and less harmful drugs, significantly. Algorithmiq's mission is to prevent and cure diseases by exploiting the power of quantum computing combined with a complex systems approach to drug discovery and development. Sabrina Maniscalco, CEO and co-founder of Algorithmiq: “We are delighted to collaborate with IBM as we look to combine our world-leading quantum algorithms with IBM’s best-in-class hardware and quantum chemistry expertise toward realising the full potential of the technology for quantum chemistry simulations. Quantum computing holds the key to revolutionising the process of drug discovery and development. We couldn’t be more thrilled to be collaborating with a giant of the technology industry in our pursuit of this mission, placing ourselves at the forefront of innovation and the race to prove useful quantum advantage in the space.” Guillermo Garcia Perez, CSO and co-founder of Algorithmiq: “ Whilst unleashing the full power of quantum simulations will likely require fault-tolerant quantum computers, near-term devices like those developed by IBM, combined with our novel algorithms based on informationally complete data, are today already showing progress toward the demonstration of a quantum advantage for chemistry. This is a steppingstone for any application of quantum computers to Life Sciences.” Ivano Tavernelli, Global Leader for Advanced Algorithms for Quantum Simulations, IBM Research: “IBM believes the demonstration of quantum advantage in areas such as quantum chemistry is possible this decade. So, we are excited to collaborate with Algorithmiq in our efforts to push the industry forward, and we are glad to see the promising results they have achieved to date in improving the performance of near-term quantum algorithms. We are glad to support Algorithmiq’s ambition through the IBM Quantum Network, and believe that the company’s work could be pivotal in carving a path towards demonstrating quantum advantage with near-term quantum algorithms.” About Algorithmiq Algorithmiq develops software and quantum algorithms to solve complex issues in life sciences, with the mission to significantly reduce the time and cost it takes for pharma companies to bring new drugs for diseases to market. Based in Helsinki, the company is led by a team of ambitious, world-leading academics in quantum computing and is one of the only software companies specifically focused on optimising algorithms for NISQ to impact the drug discovery pipeline. In February 2022, the startup announced a $4m seed round backed by investment from Tiger Global, K5 Global and numerous angel investors. Alongside Co-Founder and CEO Professor Sabrina Maniscalco on Algorithmiq’s Board are:- Co-Founder and DeepMind advisor Dr Jussi Westergren; Jorma Ollila, former CEO and Chairman of Nokia; and Haakon Overli, founding General Partner at Dawn Capital, who sit on the board. About IBM For more information, visit https://www.ibm.com/quantum Contact Details Algorithmiq Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://algorithmiq.fi/

November 16, 2022 06:00 AM Eastern Standard Time

Image

AiViva Reports That Their Promising New Treatment For Wet AMD Is Soon To Be Ready For Clinical Trials

AiViva BioPharma

If you would like to learn more about AiViva, check out its website. Visit https://www.startengine.com/aiviva to invest in AiViva’s StartEngine Campaign. Wet age-related macular degeneration, also known as wet AMD, is a chronic eye disorder that causes blurred vision or blind spots in the visual field of the eye. It’s caused by abnormal blood vessels that leak fluid or blood into the eye’s macula and scar it (the macula is the area of the eye that provides the sharp, central vision needed for reading, driving and seeing fine detail). Wet AMD can progressively lead to vision loss resulting in permanent blindness if left untreated, according to report s. Over 45% of patients on current therapies do not achieve meaningful vision gain. Currently there is no cure for wet AMD. Currently available treatment for wet AMD involves frequent injections in the eye. It can be a drawn-out process that takes anywhere from four to 12 weeks so new product development for wet AMD is focused on developing longer-acting effective drugs, which could result in better vision preservation and less frequent trips to the doctor. AiViva BioPharma AiViva BioPharma, a clinical-stage biotech company headquartered in Newport Beach, California, is developing AIV007 in combination with its JEL™ technology – a drug the company says has the potential to address the underlying root cause of vision loss from wet AMD and treat the disease with good clinical outcomes that preserve and enhance vision in patients while reducing visits to the doctor. How Is AiViva’s Drug Different? AiViva’s proprietary JEL™ technology allows for the placement of the drug directly at the site of disease, where it forms a depot for prolonged drug release. A unique feature of AiViva’s JEL™ is that its delivery medium is a liquid at room temperature, which upon injection into the diseased eye tissue at a warmer body temperature quickly hardens into a gelatin-like mass. This drug-infused mass (a drug depot) then serves as a storehouse to release the drug over time to the disease site, effectively preventing blood from leaking into the macula. In addition to stemming fluid or blood leaking, the company reports demonstrating proof of concept of AIV007’s potential to remove scarring within the macula which accounts for long-term vision loss and no current treatment addresses. AIV007 has a unique mechanism of action by targeting multiple key receptors VEGFR, PDGFR, and FGFR, and TGFβ1. These actions collectively and effectively address abnormal growth of leaky blood vessels, underlying inflammation and scarring. Other companies offering maintenance treatment for wet AMD include Ocular Therapeutix Inc. (NASDAQ: OCUL), Eyepoint Pharmaceuticals Inc. (NASDAQ: EYPT), Clearside Biomedical Inc. (NASDAQ: CLSD), Aerie Pharmaceuticals Inc. (NASDAQ: AERI) and Graybug Vision Inc. (NASDAQ: GRAY). The company says that its distinct edge over the competition is its ability of specific drug delivery which currently available treatments do not offer - its precision medicine is advantageous to achieve long local drug action and no systemic toxicity. The characteristics of the JEL™ Technology also allow for the customization of drug-release profiles, easy administration by physicians, optimal drug exposure in target tissues and the development of indication-specific formulations. Owing to these advantageous properties of the drug, AiViva plans to adapt its JEL™ Technology for new treatments in urology, ophthalmology, and oncology. AiViva has a diverse pipeline focused on wet AMD, prostate disorders, scarring, and nonmelanoma skin cancer. It believes AiViva’s JEL™, formulated with suitable active compounds, could potentially be developed for the treatment of many other diseases, including solid tumors. The clinical trial for AIV007 intended for the treatment of wet AMD is expected to commence in 2023. AiViva believes that as far as the treatment of retinal diseases goes, AIV007 in its JEL™ form also could potentially be developed for the treatment of diabetic macular edema, retinal vein occlusion and diabetic retinopathy. An Experienced Team And Patent-Backed Products The company’s web profile highlights a leadership team of seasoned industry experts with a track record in successful drug development and commercialization, who, under the leadership of company President and CEO Diane Tang-Liu, have reportedly brought multiple successful products to the market through Food and Drug Administration (FDA) approval. AiViva boasts a diverse product pipeline it says is expected to address a large, combined market, potentially delivering a combined multibillion-dollar revenue. Its delivery technology and medical uses are protected by strong intellectual property positions with 23 issued product patents and over 40 patents pending worldwide. The company's founders have made multiple initial public offerings (IPOs) on the New York Stock Exchange and the Nasdaq Stock Exchange and a successful reverse merger. AiViva has raised over $30 million, including $10 million raised during 2022. AiViva was rated as a top 20 clinical-stage biopharma company by Life Sciences Review in 2022 and could be one to watch in the transformative treatments in ophthalmology space. Interested in investing in AiViva? Go here. AiViva is a clinical stage biotech company which has created proprietary technology and new treatments to address significant, unmet medical needs in ophthalmology, dermatology, urology, and oncology. The company is led by a team of seasoned industry experts who have an outstanding track record in successful drug development, commercialization, and multiple IPOs on the NYSE and NASDAQ. The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. Benzinga may receive monetary compensation from the issuer, or its agency, for publicizing the offering of the issuer’s securities. This content is for informational purposes only and is not intended to be investing advice. This is a paid ad. Please see 17(b) disclosure linked in the campaign page for more information. Contact Details Shane Cerrato michael@aiviva.com Company Website https://aiviva.com/

November 15, 2022 03:41 PM Eastern Standard Time

Empower Clinics adds US healthcare executive to board of directors

Empower Clinics Inc.

Contact Details Proactive Proactive Studio +1 604-688-8158 action@proactiveinvestors.com Company Website https://www.proactiveinvestors.ca

November 15, 2022 11:35 AM Eastern Standard Time

Video

Can This Company’s Positive Results For Psychedelic Combination Treatment Provide Hope For Alcohol And Cocaine Addiction Problems?

SciSparc Ltd.

Learn More about SciSparc Ltd. by gaining access to the latest research report There is a high probability that you may know someone battling some form of addiction. Whether it’s a problem with opioids, alcohol, cocaine, or even using pain meds, an unchecked addiction can be fatal. Addiction, or substance use disorder (SUD), can be a chronic mental health condition that demands urgent attention before it gets out of hand. Take alcohol abuse, for example; the World Health Organization (WHO) estimates that three million deaths yearly result from the harmful use of alcohol. This represents 5.3% of all deaths. Overall, 5.1% of the global burden of disease and injury is attributable to alcohol, as measured in disability-adjusted life years (DALYs). Looking at the overall drug abuse and addiction globally, around 275 million people used drugs worldwide in 2020, while over 36 million people suffered from drug use disorders, according to the 2021 World Drug Report by the United Nations Office on Drugs and Crime (UNODC). Zooming into the U.S., the National Center for Drug Abuse Statistics (NCDAS) estimates that nearly half of all people 12 and older in the U.S. have used an illicit substance at least once. Since 2000, almost one million people have died of a drug overdose. These staggering statistics call for effective therapies and treatment centers to help curb the trend, especially as there are indications that the number of drug users worldwide is likely to climb up to 11% by 2030. Rising awareness about the adverse effects of alcohol and substance abuse, the introduction of new therapies, and increasing rehabilitation centers are expected to fuel the growth of the global substance abuse treatment market. The global substance abuse treatment market was valued at $10.2 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2031. The market is anticipated to cross $23.1 billion by 2031. Pharmaceutical companies like Amphastar Pharmaceuticals Inc. (NASDAQ: AMPH), Viatris Inc. (NASDAQ: VTRS), SciSparc Ltd. (NASDAQ: SPRC), and BioCorRx Inc. (OTCMKTS: BICX) are advancing research and therapies aimed at serving the needs of the market. SciSparc is a specialty clinical-stage pharmaceutical company focused on developing therapies to treat CNS disorders from a portfolio of technologies and assets based on cannabinoid pharmaceuticals. The company is engaged in drug development programs based on tetrahydrocannabinol (THC) and nonpsychoactive cannabidiol (CBD). The company’s pipeline of product candidates includes SCI-110 for treating Tourette syndrome, Alzheimer’s disease and agitation; SCI-160 for treating pain; and SCI-210 for treating autism spectrum disorder and status epilepticus. It also has CannAmide™, an immediate unique palmitoylethanolamide (PEA) oral formulation for reducing chronic pain and inflammation. Positive Results For Psychedelic Combination Treatment In May this year, SciSparc announced positive efficacy and safety profile results from its joint preclinical trial with Clearmind Medicine Inc. (NASDAQ:CMND,CSE: CMND)), a psychedelic pharmaceutical company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems. The trial tested the proprietary combination of SciSparc’s CannAmide™ with Clearmind’s psychedelic molecule5-Methoxy-2aminoindane ( MEAI ) for suppressing alcohol use disorder. A histopathology assessment was conducted on several organs (heart, lungs, liver, kidneys, brain, pancreas, spleen and thyroid gland) from all experiment groups to determine the safety of the proprietary combination of MEAI and CannAmide™ versus control mice that were not exposed to alcohol. Previously announced successful results showed a significant dose-dependent effect for the MEAI treatment in reducing alcohol consumption in treated animals, with substantial additional effect when combining CannAmide™ with the lower sub-effective MEAI dose. On Aug. 24, the company announced additional positive preclinical results of its psychedelic-based pharma collaboration for treating cocaine addiction using MEAI. These preclinical study results add to the company’s collaboration with Clearmind for its combination treatment for various addictions, including preclinical studies results and filing two provisional patent applications related to compositions comprising MEAI and n-acylethanolamines, their use and treating cocaine addiction. Gal Yadid and his team from the Gonda Multidisciplinary Brain Research Center at Bar Ilan University in Israel led a preclinical trial designed to evaluate the possible reward-like effects of MEAI in connection to cocaine and its ability to abolish cocaine- induced conditioned place preference. The self-administration paradigm, the gold-standard model for examining drug addiction, was used in the preclinical trial. Rats were catheterized and trained to self-administer cocaine. The results identified a statistically significant sub-group that responded dramatically to the treatment, significantly decreasing the craving for cocaine compared to a nontreated control group. Follow the story at SciSparc’s website here. SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. SciSparc's focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following drug development programs based on THC and/or non-psychoactive cannabidiol (CBD): SCI-110 for the treatment of Tourette Syndrome, for the treatment of Alzheimer's disease and agitation; SCI-160 for the treatment of pain; and SCI-210 for the treatment of autism spectrum disorder and status epilepticus. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details TraDigital IR- Christine Petraglia christine@tradigitalir.com Company Website https://scisparc.com/

November 15, 2022 10:25 AM Eastern Standard Time

Oxford Cannabinoid Technologies nearly ready for new phase 1 trial

Oxford Cannabinoid Technologies Holdings PLC

Contact Details Proactive Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

November 15, 2022 10:22 AM Eastern Standard Time

Video

Women’s Healthcare Company Agile Therapeutics Says It Believes It Has An Effective Business Plan In Place For Growth And Generating Positive Cash Flow

Agile Therapeutics, Inc.

Agile Therapeutics Inc. (NASDAQ: AGRX) is on a journey to fulfill the unmet health needs of women with products designed to provide them with contraceptive options. The company’s product and product candidates are designed to provide women with contraceptive options that offer freedom from taking a daily pill without committing to a longer-acting method. Twirla® Agile ’s initial product Twirla® (levonorgestrel and ethinyl estradiol) transdermal system, is a nondaily prescription contraceptive based on the company’s proprietary transdermal patch technology called Skinfusion®, which is designed to allow drug delivery through the skin. The Twirla transdermal system is a once-weekly combined hormonal contraceptive (CHC) patch that contains the active ingredients levonorgestrel (LNG), a type of progestin, and ethinyl estradiol (EE), a type of estrogen. The patch is used as a contraceptive by women with a body mass index (BMI) less than 30 kilograms per meter (kg/m2) for whom a combined hormonal contraceptive is appropriate. It is less effective in women with a BMI of 25 or more. Q3 Financial Results And Corporate Update On Nov. 7, Agile released financial results for the three months that ended Sept. 30 and provided a corporate update. Financial Results Highlights: Net revenue: Twirla delivered $3.0 million in net revenue for the third quarter of 2022. This was an increase of 43% from the second quarter of 2022 – the largest quarter-over-quarter increase the Company has achieved. Cost of product revenue: Cost of product revenue totaled $1.4 million and consisted of direct and indirect costs related to the manufacturing of Twirla® sold, compared to $2.7 million for the third quarter of 2021 – a decrease of 47%. The decrease reflects the elimination of an inventory obsolescence reserve, which the company established in the third quarter of 2021. Total generally accepted accounting principles (GAAP) operating expenses: Total GAAP operating expenses were $20.3 million for the quarter that ended Sept. 30, compared to $14.4 million for the comparable period in 2021 — an increase of 41%. The GAAP operating expenses for the third quarter of 2022 represent an increase of 80% from the $11.3 million of GAAP operating expenses reported for the second quarter of 2022. Total non-GAAP operating expenses: Total non-GAAP operational expenditures were $9.2 million for the quarter that ended Sept. 30, compared to $14.4 million for the comparable period in 2021 — a decrease of 36%. The non-GAAP operating expenses for the third quarter decreased 19% from the $11.3 million non-GAAP operating expenses reported for the second quarter of 2022. The company had a one-time, non-cash charge associated with the transfer of equipment to Corium in the third quarter and believes the non-GAAP operating expense, which excludes this charge from GAAP operating expenses, presents a more useful comparison of the results from its operations because prior periods did not include a similar charge. The company provided a reconciliation of its GAAP operating expenses versus non-GAAP operating expenses in its press release. Cash: As of Sept. 30, the company had $6.1 million of cash, compared to $13 million of cash and cash equivalents as of the end of the second quarter of 2022. Net loss: Net loss was $19.7 million, or 53 cents per share for the quarter that ended Sept. 30, compared to a net loss of $16.8 million, or $7.20 per share, for the comparable period in 2021. The company incurred a one-time, noncash operating expense charge of $11.1 million in the third quarter of 2022 related to the transfer of equipment ownership to Corium Inc., which is reflected in the net loss for the third quarter of 2022. Shares outstanding: As of Sept. 30, Agile had 39,026,823 shares issued and 36,997,836 weighted average shares of common stock outstanding. Key Contributors To Future Growth Although the company reported a net loss for the quarter due to reasons that included extraordinary ones, it says it has an effective business plan in place and is tracking towards its goal of generating positive cash flow. An important contributor to the company’s third-quarter growth was its partnership with Afaxys Inc., which drove volume in the nonretail channel. In the second quarter of 2022, 1,404 nonretail cycles of Twirla®were purchased, and that number surged 361% in the third quarter to 6,479 nonretail cycles. “This growth is the product of the efforts being made by Afaxys to penetrate the Planned Parenthood network. In the third quarter, we began to see the conversion of Planned Parenthood accounts in California, which drove significant sales and growth for the quarter. We believe this represents a sustainable customer base for future periods,” Agile Therapeutics Chief Commercial Officer Amy Welsh said. She added that by focusing on five key states — California, Texas, Florida, Illinois, and New York — “It is estimated that we can reach 45% of U.S. women between the ages of 18 and 24. In the future, we expect the retail channel to continue to grow.” Additionally, Agile plans to launch its collaboration with female telehealth leader Nurx in the fourth quarter of 2022 and expects the collaboration to begin to contribute to retail channel growth in 2023. Nurx is a leader in female-focused digital healthcare amongst the Twirla target audience and offers patients access to its telehealth platform and expert medical providers that have prescribed contraception to more than 1 million patients Generating Positive Cash Flow In an industry with players like Dare Bioscience Inc. (NASDAQ: DARE) and Hologic Inc. (NASDAQ: HOLX), Agile is exploring business development opportunities that could potentially accelerate the timeline for generating positive cash flow. “Our stated plan has been to effectively manage expenses while continuing to grow Twirla® sales and demand. This is the third consecutive quarter we have increased Twirla® sales and demand while simultaneously decreasing company operating expenses, excluding the noncash, one-time charge incurred this quarter,” Chairman and CEO and Director of Agile Therapeutics Chairman and CEO Alfred Altomari said. “We are working — and have been working — to identify and implement strategies and exploit opportunities that will contribute to further growth,” he added. If Agile maintains its quarterly revenue growth rate and operating expenses consistent with the past two quarters, the company could potentially begin to generate positive cash flow at the end of 2023. The addition of a business development opportunity or partnership could potentially accelerate that timeline. Agile Therapeutics is a women's healthcare company dedicated to fulfilling the unmet health needs of today’s women. Our product and product candidates are designed to provide women with contraceptive options that offer freedom from taking a daily pill, without committing to a longer-acting method. Our initial product, Twirla®, (levonorgestrel and ethinyl estradiol), a transdermal system, is a non-daily prescription contraceptive. Twirla is based on our proprietary transdermal patch technology, called Skinfusion®, which is designed to allow drug delivery through the skin. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Matt Riley - Head of Investor Relations & Corporate Communications mriley@agiletherapeutics.com Company Website https://agiletherapeutics.com/

November 15, 2022 08:15 AM Eastern Standard Time

Arecor Therapeutics scientist hopeful that artificial pancreas "edging closer"

Arecor Therapeutics PLC

Contact Details Proactive Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

November 15, 2022 07:43 AM Eastern Standard Time

Video

The Chicago School of Professional Psychology Names Three New Trustees

The Chicago School of Professional Psychology

The Chicago School of Professional Psychology recently named three outstanding business, professional, and community leaders to its Board of Trustees. They join the existing 12-member board of the 43-year-old non-profit educational institution, which serves 6,000 students on seven campuses nationwide. “We are pleased to have such distinguished leaders join our board” said Dr. Michele Nealon, Psy.D., President of The Chicago School of Professional Psychology. “These individuals have the skills and background to help us meet the challenges of preparing future mental health professionals, especially those interested in working in underserved communities.” Sian Seligman of Los Angeles is the Chief Marketing Officer for Resonate Blends, a cannabis holding company and innovation lab that develops cannabis wellness products under the brand Koan. She worked for two decades as a brand marketing and consumer strategist for Fortune 500 companies, gaining a deep understanding of the buying habits and psycho-social motivations of the American consumer. In 2020, Seligman became the youngest person and first Asian American female to head the Board of Governors at the City Club Los Angeles, where she managed a major reorganization while retaining 85 percent of club membership in the midst of forced closure due to the pandemic. Seligman holds an MS in Herbal Medicine from the American College of Healthcare Sciences and a BS in Business Administration from Cal Poly Pomona. ______________________________________________________________________________ Eloisa Perard of Los Angeles is CEO & President of QueensCare Health Centers (QHC), a non-profit, Federally Qualified Community Health Center organization, with five health centers in underserved neighborhoods of Los Angeles. “I look forward to adding my expertise to the board in generational trends and insights,” she said. “My goal is to bring diverse and innovative thinking about the future of higher learning, particularly mental wellness education.” Perard has also held executive positions in education and manufacturing since earning an MS in Organizational Psychology and a BS in Organizational Management from the University of La Verne. Perard serves as Treasurer on the Board of Directors of Community Clinics Association of Los Angeles County (CCALAC), a non-profit network that advocates for expanding access to health care for the medically underserved people in Los Angeles County. She also serves on the Board of Directors of Health Care L.A. (HCLA), an Independent Physician Association (IPA). Dina Torrisi Martin of Chicago is General Counsel of the Illinois Department of Financial and Professional Regulation, where she heads the Office of Legal Affairs. As counsel to the Secretary, Division Directors, and executive staff of this agency, she oversees litigation and administrative hearing decisions, and formulates policy decisions. “As the pandemic surely highlighted, mental well-being is an imperative,” said Martin. “I am honored to become a trustee and look forward to working with the growing Chicago School community.” She is a former partner and head of medical malpractice at Hughes Socol Piers Resnick & Dym, Ltd., where she represented hospitals and health professionals before regulatory agencies. Torrisi Martin is an elected member of the American Board of Trial Advocates, the Society of Trial Lawyers, and other professional organizations. She earned a JD from the University of Illinois Chicago School of Law and a BA in Political Science from the University of Illinois Urbana-Champaign. # About The Chicago School of Professional Psychology: Integrating theory with hands-on experience, The Chicago School of Professional Psychology provides education rooted in a commitment to innovation, service, and community for thousands of diverse students across the United States and globally. Founded in 1979, the nonprofit, regionally accredited university now features campuses in iconic locations across the country (Chicago, Southern California, Washington, D.C., New Orleans, Dallas) and online. To spark positive change in the world where it matters most, The Chicago School has continued to expand its educational offerings beyond the field of psychology to offer more than 30 degrees and certificates in the professional fields of health services, education, counseling, business, and more. Through its engaged professional model of education, commitment to diversity and inclusion, and an extensive network of domestic and international professional partnerships, The Chicago School’s students receive real-world training opportunities that reflect their future careers. The Chicago School is proud to be a part of TCS Education System, a nonprofit, integrated system of colleges and universities that works collaboratively to advance student success and community impact. To learn more, visit www.thechicagoschool.edu. Contact Details Vivien Hao +1 323-893-4743 vhao@thechicagoschool.edu

November 14, 2022 11:00 AM Pacific Standard Time

ACCELMED PARTNERS CLOSES $35 MILLION INVESTMENT IN SKNV

Accelmed PR and SKNV

Accelmed Partners (“Accelmed”), a private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies, today announced that it concluded a $35 million investment in SKNV Inc. a full continuum-of-care dermatology digital health company for in-practice dispensing and ecommerce of customized prescriptions and skincare. Lake Street Capital served as sole financial advisor on the transaction Founded in 2016 by Dr. Spencer Malkin, SKNV is the market leader and FDA-Registered 503B Outsourcing Facility for customized medications dispensed directly from dermatology practices. With customized medicines making a clinical difference across the 12 most common dermatological diagnoses, SKNV enables doctors to determine the prescription potency and active ingredient customization needed for targeted results to their individual patients. By offering dermatology practices a complete system that includes customized medications and the proprietary technology platform required for compliant dispensing and patient management, SKNV is uniquely positioned to meet the needs of both modern practice operations and precision patient care. The Company’s digital health platform allows local practices to focus on optimized daily care, while providing 24/7 tools to improve drug adherence, refill automation, and telehealth options for patients. Dr. Uri Geiger, Managing Partner of Accelmed, said, “SKNV has developed a best-in-class customized digitally driven medication system that puts the power of prescriptions back in the hands of doctors and patients. For too long, middlemen players have driven up the cost and complexity of prescription medicine, often inserting their power to deny or change the prescription that doctors order for patients in their care. SKNV is changing that power dynamic by giving dermatology practices and their patients the autonomy to make the right decisions for their unique prescription needs. With their unmatched level of targeted Rx care and digital health convenience combined with a wallet-friendly price, SKNV's customized medications are the affordable, best choice for dermatology patients. What makes this even more impressive is how SKNV is helping reaffirm and redefine the lead role of the local practice and prescribing doctor in the future of digital-enabled healthcare. We are excited to partner with Spencer and the entire SKNV team to further expand the Company’s geographic footprint, operational capabilities, and digital health technologies to serve more customers across the United States.” Proceeds from the investment round will be used to help SKNV advance its new, state-of-the-art manufacturing facility in Florida, scale its proprietary digital health platform, increase its sales team footprint across the U.S., and expand its management team with strategic hires. Dr. Spencer Malkin, Founder and CEO of SKNV, added, “We are partnering with Accelmed because they share in our vision for a dermatology ecosystem that connects local practices and customized medicine with the latest in digital health technologies to drive patient care compliance and prescription drug adherence. The real future of healthcare combines digital and local care to improve patient outcomes. As others continue their pursuits to displace dermatology practices, SKNV empowers community doctors with the advanced, customized solutions that modern patients seek without losing the personal care from local providers they trust. Accelmed’s operational expertise and industry-wide connections are key to expediting our growth from an innovative market leader in customized medicine to the new pharma standard for dermatology.” About Accelmed Partners Accelmed is a U.S.-based private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies. Since 2009, Accelmed has deployed over half a billion dollars into companies spanning medical devices, diagnostics, digital health and technology-enabled healthcare services. Accelmed seeks to accelerate value and scale innovation across the HealthTech field by bringing to bear the team’s industry experience, operational and financial expertise, and strong global relationships. For more information, please visit www.accelmed.com. About SKNV Inc. SKNV is a pioneer in customized medications and skincare solutions for leading dermatology practices across the United States. Combining a fully integrated, in-office dispensing solution for local doctors with a digital health ecommerce platform for monthly patient refills, SKNV places the power to determine and fully manage customized prescription care paths back in the hands of local providers. The SKNV Customized Dermatology System delivers targeted results and repeat purchases through tailored regimens in preventative, curative, and maintenance skin care. More information is available at www.sknv.com. Contact Details Amanda Klein/Alex Jeffrey Gasthalter & Co. +1 212-257-4170 Accelmed@gasthalter.com Company Website https://www.accelmed.com

November 14, 2022 12:58 PM Eastern Standard Time

1 ... 190 191 192 193 194 ... 308

Back