Moat Bio successfully completed its first round of clinical testing for its revolutionary SC-AdVax platform, which stimulates mucosal immunity via intranasal administration. This strategy will allow Moat to target multiple respiratory or GI pathogens at the point of entry and thereby provide an immediate and powerful immune response.
The Moat Bio team expects to complete its second round of testing by the end of 2024 and will seek additional funding to advance the technology into clinical trials.
This rapidly-growing innovator in helping pharmaceutical companies accelerate their drug development recently named Patrick Lucy as its CEO. A 32-year veteran of the biotechnology industry, he brings an impressive track record of establishing and scaling biotechnology organizations that makes him the ideal leader to guide Wheeler in its transition to a fully integrated commercial-scale CDMO.
The company is projecting significant revenue growth versus 2023.
BossTax continues to enhance its app's ability to help the millions of America's self-employed 1099 workers keep track of their finances, file their taxes, do their banking, and access lending - all from their telephone.
A major redesign of the app is underway, with continued advancements in hyper-personalization, to be released in multiple stages between now and January.
The company recently hired its first Sales & Marketing Manager, and has been establishing partnerships with a variety of 1099-based companies in direct sales, brokerage, and affiliate marketing/influencers ahead of the tax season.
The company also added a Spanish-speaking Trainer, who has been conducting rollout trainings with partner field networks.
This Fintech innovator recently launched Forecast, its latest solution for increasing productivity and profits for mortgage servicers. Among other things, Forecast helps Ardley's clients identify borrowers who will qualify for specific loan programs before mortgage interest rates fall. As with other innovative Ardley products, Forecastis great news for lenders and borrowers alike.
Fittingly, the Ardley team is being lauded within the industry for its achievements:
Founder/CEO Nathan Den Herder was recently awarded the prestigious Vanguard award by HousingWire, whichrecognizes c-suite individuals making big waves in the housing industry.
HousingWire also named Ardley CTO TIm McLuckie a "2024 Industry Insider" and Head of Product Haley Rader one of its "2024 Women of Influence."
Earlier this year, Progress in Lending featured COO Taylor Potter in its "2024 The Most Powerful Women in Fintech" issue.
Myri Health's mission to support mothers through every stage of motherhood - including pregnancy - has taken a significant step forward with recent feature expansions and global accessibility:
Global presence: Myri is now available internationally, bringing essential support tools to mothers worldwide.
New language support: Myri is now available in Spanish, with more language options on the way to ensure accessibility for all.
Enhanced nutritional analysis: Moms can now access personalized nutritional insights, helping them make informed decisions for a healthier journey.
Comprehensive health tracking: Myri now offers advanced health tracking, so moms can keep track of vital health indicators at their fingertips.
Preventive care tools: Myri’s new preventive care features provide early risk detection, empowering mothers to take proactive steps in safeguarding their health.
Myri Health was one of the top five finalists out of thousands of startups in the Peerless Pitch Competition by AlleyCorp and Management Leadership for Tomorrow (MLT), a competition focused on empowering underrepresented founders.
Out of a global pool of over 16,000 startups, Myri Health was also selected as one of the Top 100 startups for the Entrepreneurship World Cup (EWC) 2024 by GEN and Monsha'at. Founder/CEO is currently in Riyadh participating in the finals of the competition.
And last week, Myri HealthWON the HITLAB 2024 Women's Health Tech Challenge Pitch.
Lumata, which helps ophthalmologists improve their outcomes for patients with glaucoma, macular degeneration, and diabetic retinopathy while also increasing their revenues, now has over 120 full-time employees.
The company is showing significant revenue growth and pursuing additional growth by expanding partnerships with Genentech and others.
The company is also planning a significant fundraise to support its accelerated growth.
This innovative creator of the most advanced solar panel installation system just received an order from the #2 installer in the industry to provide 3 million clips for one of the largest solar infrastructure projects in the country.
VesprSolar also recently received a grant from the Oklahoma Center for the Advancement of Science & Technology's Industry Innovation Program.
A significant new product is being prepared for launch, and the company has already received and order for over 40,000 units.
To support its significant growth plans, the company will be pursuing a Series A fundraise in early 2025.
A recent clinical trial conducted by the University of Oklahoma Medical Center found that IV Ensure reduced the odds of avoidable infection-related readmissions for home IV infusion patients by a remarkable 68%. This breakthrough technology promises to significantly improve patient health while significantly reducing payor expenses and strains on the healthcare system. The clinical trial results were extremely well-received at the recent international IDWeek conference in Los Angeles.
The company received hired a Chief Revenue Officer and is currently engaged in talks with payors around the world.
A significant fundraise is planned for early 2025.
This analytical instrumentation innovator is experiencing great sales momentum in batteries, metals, mining, and materials, and is on track to more than double last year’s sales.
Exum recently made its first international sale and has added distributors in the US, Canada, Australia, and South Korea.
To support ongoing growth and technical innovation, Exum anticipates a Series B fundraising round in 2025.
This creator of the FDA-cleared YoniFit Bladder Support device for Stress Urinary Incontinence (SUI) in women recently contracted with one of the country's largest distributors to pharmacies. (SUI, which will affect 75% of women at some point in their lifetimes, is the leading cause of urine leakage in women and is growing at a 7.6% CAGR.)
The company has assets in place to scale quickly and is planning a Telemedicine campaign this quarter to increase access to women all over the U.S.
Their first national ad appeared in USA TodayModern Woman magazine and online on November 7.
The digital version of this issue will be receiving unprecedented social media support by such celebrities as Katy Perry, Taraji P. Henson, Miranda Lambert, TIffany Hadish and Jamie Lee Curtis.
Cadenza Bio, a preclinical biotechnology company focused on developing a series of novel small-molecule drugs for oral administration in the treatment of demyelinating and inflammatory diseases like Multiple Sclerosis (MS), has several preclinical studies underway.
The company just received a grant from the Oklahoma Center for the Advancement of Science & Technology (OCAST) to extend their robust data in standard MS animal models to evaluate potential benefits in more progressive forms of the disease.
IMG Academy and Merrill Wealth Management recently announced a three-year partnership to offer more education and resources around finances awareness to student-athletes and their families.
IMG also recently announced that it will launch its first-ever softball program in 2025 to enhance the female student-athlete experience on campus.
Fund I Update
As you know, we're actively pursuing an additional fundraise of $25 million, most of which will be used to invest in our best-performing portfolio companies that have the potential for earlier-than-originally-expected exits.
Importantly, any new LP in BSV Fund I will receive all the rights and benefits of Day One investors.
To schedule a Zoom call with BSV Founder & General Partner James Spann to learn more about Fund I, just click the button below to let his Executive Assistant, Eliza McCloy, know what days and times work for you.
This issue's CEO profile feaures Mitchell Berenson, MPH, Founder/CEO of HealthTech innovator IV Ensure.
Q: How did you decide to get into the healthcare field? A: I grew up in a family in which service was almost a civic responsibility, and it quickly became a passion for me. That point was really driven home when I was at the University of Oklahoma Hudson College of Public Health, where I had the opportunity to do an internship as a patient manager at the Oklahoma Children’s Hospital. It really hit me that there are so many people in the world who really need help.
Q: What made you decide to focus on infusion services? A: As I observed the outpatient IV infusion experience, I was struck by the fact that over 30 percent of them were having to be readmitted to the hospital for further care because they weren't adhering to their treatment schedules. Their lack of medication adherence was seriously jeopardizing their health and unnecessarily generating huge costs for payors and added strain for providers. So I founded Community Infusion Solutions (CIS) to help rural hospitals confront the problem by providing care team services to encourage and motivate patients to get their outpatient infusions. Since 2008, we’ve helped rural hospitals in 22 states reduce the hospital readmission rate from outpatient infusion patients by 20 to 30 percent..
Q: What led you to found IV Ensure? A: When I had run the home infusion operations for a large physicians group, I was quite concerned that a high percentage of our patients weren’t getting well; they were developing chronic infections. That's a big problem when you consider that more than three million Americans receive home IV infusion therapy annually, and each of these patients sits on the margin between getting well and having serious and potentially fatal health problems.
Several years ago, I had my “aha moment.” It became clear to me that if we were to be able to have a comparable – and ideally even greater – impact on readmission rates for home infusion patients, we would need more than a care team that can remind and encourage these patients to take their IV therapy; we would also need a means of alerting that care team whenever a scheduled home therapy session was missed. And, after years of study, planning and development, we were able to make that happen with IV Ensure.
Q: How does IV Ensure work? A: IV Ensure is an evidence-based pathway that has been documented to significantly increase medication adherence and lead to a significant reduction in avoidable infection-related hospital readmissions. We've developed and patented a compact device that easily attaches to the home IV line. The device uses cellular technology to transmit data in real time to IVE Mind, our cloud-based SAAS, which generates real-time reports for the patient, the care team, the provider and the payor that include comprehensive data related to the patient’s infusion progress. If the patient misses a scheduled appointment, the care team immediately reaches out to remind and encourage the patient to have the infusion.
One of the great advantages of IV Ensure is that it doesn’t interfere with anything that payors or providers do; it’s simply an overlay that makes everything they do better, more efficient and more financially rewarding.
Q: What kind of results have you seen? A: Our experience indicates that we can increase patient medication adherence to 94%, which leads to a significant reduction in avoidable hospital readmissions. A recent clinical trial conducted by the University of Oklahoma Medical Center found that IV Ensure reduced the odds of avoidable infection-related readmissions by 68% at 90 days. According to trial principal investigator Joseph Sassine, MD, FACP, "The overall impact of IV Ensure is revolutionary – It expands the care our patients can safely and effectively receive at home, and it prevents readmissions.”
Q: What does the future hold for IV Ensure? A: I couldn’t be more excited about our future, particularly given that there are 9.5 million people in the world who need our product. At the recent IDWeek global conference in Los Angeles, infectious disease doctors, epidemiologists and health policy thought leaders from around the world were blown away by the results of our clinical trial and how easily IV Ensure can be adopted by payors, providers and patients alike. Their response makes us very optimistic about our ability to scale our company worldwide. That optimism is reinforced by the fact that numerous payors and healthcare organizations that we're currently in talks with around the globe are very impressed with IV Ensure’s potential for significantly enhancing the health value of their high-risk patients while reducing total healthcare spend and stress on the healthcare system.
Q: Finally, how would you describe the experience of having Boyd Street Ventures as an investor? A: It’s very clear to me that not all venture capital firms are created equal. I very much appreciate the fact that BSV is structured in a way to maximize the possibility of a company like mine achieving our goals. And I love the fact that BSV is run by a General Partner with such deep experience and expertise in Life Sciences. How many General Partners will call one of their portfolio companies and say, “Hey, I know you have a big negotiation coming up with a payor. How can I help?” That’s what James Spann does, and having access to someone like that and to the deep bench in BSV’s Venture Studio is a huge benefit. Boyd Street Ventures has a true passion for its portfolio companies.
Magazine Article About BSV
Last month BSV was featured in an article published by Boyd Street Magazine. The article discusses our history, our philosophy, the role the Venture Studio by BSV plays in enhancing the success of our portfolio companies, and our ongoing fundraise.
This issue's BSV Advisor Profile focuses on Lisa Risser, CPA, MBA, FACHE, FHFMA.
In her relatively short time as a Boyd Street Ventures Fund Advisor, Lisa Risser has brought her exceptional expertise to bear in the healthcare sector, particularly regarding financial issues. Her insights bring great value both to BSV’s management team and to the BSV portfolio companies she advises.
Lisa enjoyed a very successful 25-year career at Scripps Health. It began in 1998 at Scripps Memorial Hospital Encinitas, where she held the role of Chief Financial Officer (CFO). She later transitioned to Scripps Memorial Hospital La Jolla, serving as both CFO and Chief Operating Officer (COO). In 2013, she played a pivotal role in transitioning Scripps to a horizontal, matrixed organizational structure as Corporate Vice President of Clinical and Support Services, overseeing system-wide operations in supply chain, endoscopy, surgery, and pharmacy. Her leadership efforts resulted in substantial cost savings of $130 million over six years.
Before joining Scripps, Lisa served as finance and business manager at Good Samaritan Medical Center in Phoenix, and also managed financial operations and human resources at Freedom Plaza Retirement Center/Care Center in Peoria, Arizona.
Lisa now leads Jevan Consulting, focusing on strategies to drive financial excellence, operational efficiency, and leadership in healthcare. With her extensive industry experience and proven track record, she brings a wealth of expertise to healthcare consulting, offering specialized services in financial management, operational strategy, executive leadership, and professional training. She is a recognized thought leader in healthcare financial and operational management. Her expertise has been acknowledged through numerous awards, and she continues to contribute to the field through speaking engagements and leadership roles.
Lisa holds an M.B.A. from the W.P. Carey School of Business at Arizona State University and a B.A. in Business & Management from the University of Washington Foster School of Business. She is also a Certified Public Accountant, a Fellow of the American College of Healthcare Executives and a Fellow in the Healthcare Financial Management Association.
BSV Portfolio Company Job Openings
VinSense
AgTech innovator VinSense is seeking to fill the new position of Sales Director. ThIs position will work closely with VinSense's CEO, Chief Soil Scientist, and founders to drive software revenue, optimize the company's sales process, employ strategies to gain clients and increase client satisfaction, and manage marketing initiatives.This position is full-time with a negotiable compensation package that includes a profit-sharing equity component. It will grow in responsibility with commensurate compensation growth as the company grows. To ensure success, the Sales Director should have a clear understanding of the company’s core values and strategy and assist the CEO with developing our company culture. This position will report to the CEO. The location is flexible, and travel will be required.
Requirements:
A sound track record of leadership, selling skills and supporting software experience (e.g., CRM)
5+ years experience successfully meeting sales targets and managing teams
Ability to navigate complex agriculture markets successfully
Demonstrated experience of ethical leadership
Outstanding verbal and written skills, and experience working with staff on all levels
FemTech innovator Watkins-Conti is seeking to fill the new position of Sales Representative for its YoniFit Bladder Support medical device for female Stress Urinary Incontinence. The ideal candidate will be passionate about women's health, love to travel, and be eager for a role that offers incredible growth potential. Compensation will be 100% commission-based with unlimited earning potential. Training will be provided.The position is based in Edmond, OK, and travel will be required.
Requirements:
Minimum 3 years of sales experience (medical sales preferred)
Strong track record of meeting or exceeding sales goals
Self-motivated, energetic, and eager to grow within a fast-paced environment
Desire to travel frequently
Excellent communication and interpersonal skills
Ability to work independently while demonstrating strong teamwork skills
While the Sooners' football season hasn't gone quite as well as hoped, that hasn't kept us from holding tailgates at our Campus Corner headquarters before every home game. Our tailgates are a great opportunity for us to interact with our LPs, our local partners, OU staff, and members of the Norman community. Sometimes, we even have a Hall of Fame coach stop by!
Campden Wealth Forum
BSV Founder & CEO James Spann recently attended the Campden Wealth Family Investment & Alternatives Forum in Denver, where he was able to connect with several family offices that he'll be meeting with over the next few months to discuss their possible investments in Fund I.
Red River Rivalry Reception
Last month we held our fourth annual Red River Rivalry Reception at the Omni Dallas the evening before the OU-Texas game. This event is a wonderful opportunity to engage with OU alumni, staff and students as well as our LPs, and this year's event drew our biggest turnout ever.
In the foreground in the photo below are (L to R): OU President Joseph Harroz, Jr.; OU Regent Rick Braught; BSV Fund Advisor Lisa Risser; and BSV Founder & General Partner James Spann. In the background, BSV Co-Founder & Strategic Advisor Jeff Moore can be seen talking with President Harroz's wife, Ashley Harroz, CEO of Healthcare Partners Investments.
