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        California Governor Gavin Newsom announced new collaborations with five companies, including OpenAI and Anthropic, to deploy GenAI tools for public service delivery. These tools are anticipated to enhance various activities traffic management, road safety, and tax guidance for residents.
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        The plans involve internal trials over six months, during which state workers will test and evaluate these AI tools. The companies involved will render their services at USD 1 for their proposals. These AI tools reportedly will not handle sensitive data, thus negating privacy concerns for public service users.
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        <b>Analyst QuickTake: </b>
        The state of California appears to have a strong foothold in AI technology, with a significant number of AI companies established within its confines. Governor Newsom signed an executive order last year to explore ways to incorporate generative AI, positioning California at the forefront in AI utilization for public service functions.
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    <a href="https://www.washingtonpost.com/business/2024/05/09/california-ai-generative-artificial-intelligence-contracts/8a175a3e-0e21-11ef-ae0a-a6870885518d_story.html?ref=upstract.com">
      The Washington Post
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Generative AI Applications

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

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 <p>California Governor Gavin Newsom announced partnerships with five companies, including OpenAI and Anthropic, for the use of GenAI  tools in public service delivery. The anticipated enhancements pertain to traffic management, road safety, and tax guidance.</p>
 <p>Over six months, internal trials will be undertaken by state workers testing and evaluating these AI tools. The collaborating companies will offer their services for just USD 1 per proposal. The programs are designed so as not to involve any sensitive data, addressing privacy concerns.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The state of California appears to have a strong foothold in AI technology, with a significant number of AI companies established within its confines. Governor Newsom signed an executive order last year to explore ways to incorporate generative AI, positioning California at the forefront in AI utilization for public service functions.</p>

California partners with firms to deploy GenAI tools for public service delivery

Additive manufacturing makes objects by systematically adding material via a CAD program

Additive Manufacturing

<div>
 <p>Horizon Microtechnologies, a company specializing in on-demand micro 3D printing, has received an undisclosed amount of funding from the European Space Agency's SPARK program, which is managed by the Center for Satellite Navigation Hesse GmbH (CESAH).</p>
 <p>The company's expertise lies in creating micro-scale parts using template-based 3D microfabrication technology. This process allows them to develop light, compact monolithic components with intricate geometries without compromising the structural integrity. The technology combines the precision of 3D printing with metallization processes, which is vital for optimization of size, weight, and power in space missions. Horizon Microtechnologies offers various coatings including HMT-Metal, a copper coating with more than 25% bulk copper conductivity, HMT-Protect, a ceramic-like protective coating offering resistance against chemicals, abrasion, and heat, and HMT-Conductive, a transparent conductive coating.</p>
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Horizon Microtechnologies raises funding from European Space Agency (ESA)

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>

<p>Nuvig Therapeutics recently raised a total of USD 161 million in a Series B financing round. This substantial found of funding was led by Sanofi Ventures, and included contributions from major names like Bayer, Novo Holdings, and Bristol Myers Squibb.</p>
<p>This newly raised capital is intended to be invested towards the development of Nuvig's lead product, the NVG-2089. The company plans to move the product from its current Phase I stage, to the proof-of-concept Phase II trials, exploring its effectiveness in various applications. A portion of the funds will also be allocated to propel the development of the company's preclinical pipeline.</p>
<p>Nuvig Therapeutics specializes in the creation of innovative immunomodulatory therapeutics targeted towards inflammatory autoimmune diseases. The NVG-2089, the company's primary product, functions as a first-in-class recombinant Fc fragment immunomodulator. It is designed to attach to type II Fc receptors and commence an endogenous regulatory process, lessening autoimmune dysregulation. The product takes advantage of the body's natural homeostatic mechanisms, ensuring equilibrium of the immune system without negatively impacting its functions.</p>

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Nuvig Therapeutics raises USD 161 million in Series B funding to advance lead program NVG-2089 and develop preclinical pipeline

INCUMBENTS_PRESENT

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 <p>GeneDx has launched its Patient Access Program for pediatric epilepsy in partnership with Biogen, Praxis Precision Medicines, and Stoke Therapeutics. This program aims to increase access to exome testing for pediatric patients with epilepsy.</p>
 <p>The Patient Access Program is designed to address the limited availability of definitive genetic diagnosis in pediatric epilepsy and provide equitable care for this population. GeneDx states that the program will facilitate quicker and more precise genetic diagnoses for pediatric epilepsy patients. Additionally, the genetic data obtained from the exome testing will augment GeneDx's existing database of rare diseases. This will aid in the development of personalized treatments and therapies for epileptic seizures.</p>
 
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GeneDx announces partnerships for pediatric epilepsy patient access program

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 <p>Foresight Diagnostics has initiated the SHORTEN-ctDNA clinical trial at Columbia University. The purpose of the trial is to evaluate the effectiveness of Foresight CLARITY's MRD detection in improving treatment for patients suffering from diffuse large B-cell lymphoma (DLBCL).</p>
 <p>The trial is designed to investigate whether early elimination of circulating tumor DNA (ctDNA) can lead to a reduction in the number of chemotherapy cycles while keeping long-term survival outcomes intact. Patients demonstrating early indications of disease reduction may have the option to switch from a combined treatment of rituximab and chemotherapy to rituximab alone for the remaining cycles. The company suggests that this approach may pave the way for personalized treatment plans with lower toxicity risks for lymphoma patients.</p>
 
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Foresight Diagnostics launches clinical trial for MRD detection technology

Artificial intelligence is identifying and testing new therapies faster than ever.

AI Drug Discovery

<div>
 
 <p>Vevo Therapeutics has teamed up with Parse Biosciences for the establishment of a single-cell dataset intended for enhancing AI-supported drug discovery and development procedures. However, specifics about the financial aspect or conditions of this agreement haven't been revealed. </p>
 <p>The collaborative effort involves creating a dataset, dubbed "Tahoe-100", which will consist of 100 million cells from multiple tumor models treated with different drugs. The dataset should accelerate Vevo's drug discovery process due to it encouraging AI-based drug discovery on a larger scale. To create this dataset, Parse Biosciences' GigaLab technology will be used. </p>
 <p>As a biotech company, Vevo Therapeutics is known for developing the Mosaic platform with a focus on transforming drug discovery using extensive in vivo data generation and AI technology. The platform is capable of assessing a drug's impact on cells from numerous patients in a solitary experiment. It also can generate millions of data points regarding drug-induced alterations in gene expression at a single-cell precision level.</p>
 
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Vevo Therapeutics and Parse Biosciences collaborate to advance AI-based drug discovery and development

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

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<p>AMP Robotics, a startup from Colorado that provides waste sorting robots, has raised USD 91 million in a Series D funding round. The round was led by Congruent Ventures and included participation from investors such as Blue Earth Capital, California State Teachers Retirement System, Liberty Mutual Investments, Wellington Management, Range Ventures, Sequoia Capital, Tao Capital Partners, and XN. </p>

<p>The company plans to use the funds to further expand its automated waste-sorting facilities. It is already in the process of developing a new facility, which will add to its existing three facilities.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> This latest round of funding follows the Series C funding of an undisclosed amount in <a href="https:<br>
//sp-edge.com/updates/18384"> May 2023 </a> from Microsoft’s Climate Innovation Fund to expand its operations and develop new infrastructure. AMP Robotics previously raised USD 91 million in a Series C funding <b> </b> round in <a href="https:<br>
//sp-edge.com/updates/14246"> November 2022 </a> also to scale up its operations.</p>

AMP Robotics raises USD 91 million in Series D funding to expand recycling facilities

Natural Fertilizers

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 <p>BioConsortia, a company from California developing biofertilizer, has formed a partnership with New Zealand's H&amp;T (Hodder and Taylors Ltd.) to launch FixiN 33, a microbial seed treatment designed for corn, brassicas, and cereal crops.</p>
 <p>Following successful field trials in New Zealand since 2023, mimicking successful outcomes in the US, Canada, Brazil, and Europe, the companies plan to launch the seed treatment during the 2024/2025 season. It is expected to help farmers optimize their use of nitrogen fertilizer while mitigating environmental impact.</p>
 <p>FixiN 33, the nitrogen-fixing seed treatment, guarantees a shelf life exceeding two years, and two more years of on-seed stability. The treatment involves the use of Gram-positive microbes that populate crop roots, transforming atmospheric nitrogen into plant-accessible forms throughout the growing season.</p>
 
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BioConsortia partners with H&T to launch nitrogen-fixing seed treatment in New Zealand

The latest line of defense against rising cyber attacks

Cyber Insurance

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 <p>CyberCube, a firm providing cyber risk analytics software, has teamed up with HUB International, a global insurance broker and financial services firm. This partnership is aimed at offering cyber risk analytics solutions across North America.</p>
 <p>This collaboration will see HUB employ CyberCube's Broking Manager to aid its clients in understanding their financial vulnerability to cyber threats. The aim is to devise effective risk transfer strategies. The analytics tools provided by CyberCube will be instrumental for HUB's Professional &amp; Executive Risks team in guiding their clients through the intricate cyber risk landscape.</p>
 <p>The goal of expanding this partnership is to aid insurance buyers in making informed decisions regarding cyber insurance and risk management. This is to be accomplished through the advanced analytics capabilities of CyberCube.</p>
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CyberCube partners with HUB International to provide cyber risk analytics solutions

New data privacy regulations have opened up space for a new wave of compliance-focused startups.

Digital Privacy Tools

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 <p>Ethyca, a platform for data privacy engineering, has succeeded in securing USD 10 million in funding. The investment was led by Aspenwood Ventures and AVP and also saw participation from existing investors like Des Traynor, Guillermo Rauch, Scott Belsky, and Kevin Hartz.</p>
 <p>This funding will be used to enhance product capabilities, expand the team, and cater to the increasing demand for their enterprise-grade data privacy and AI governance platform.</p>
 <p>Fides, Ethyca's open-source privacy engineering solution, is currently the most widely adopted open-source privacy platform in the world. The company's recent customer acquisitions, including Mozilla, Axios, Remitly, and Ramp, further consolidate its position in the enterprise segment.</p>
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Ethyca raises USD 10 million in Series A funding to boost capabilities

Ensuring the right people access the right resources at the right time

Identity & Access Management

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 <p>A new feature, Risk Management Dashboard, is introduced by Keeper Security, a cybersecurity solutions firm. Available within the Keeper Admin Console, the dashboard gives administrators the ability to oversee the organization's security practices and level of compliance.</p>
 <p>The dashboard generates a risk assessment score based on several key parameters such as end-user vault deployment, usage of password management tools, and multi-factor authentication implementation. It adapts automatically to single sign-on environments and also can be integrated with Keeper's Advanced Reporting and Alerts Module. It provides precise views of security incidents, includes important security alerts, frequency of such occurrences, user activities, and trends spanning last 30 days.</p>
 <p>As per the company's claim, the dashboard assists organizations to implement the least privilege principle, uphold top-notch security, and supply administrators with actionable steps to address any security lapses. The solution also includes a feature for proactive threat mitigation via dynamic benchmarks that are regularly updated as per the newest security standards.</p>
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All Updates

California partners with firms to deploy GenAI tools for public service delivery

Horizon Microtechnologies raises funding from European Space Agency (ESA)

Nuvig Therapeutics raises USD 161 million in Series B funding to advance lead program NVG-2089 and develop preclinical pipeline

GeneDx announces partnerships for pediatric epilepsy patient access program

Foresight Diagnostics launches clinical trial for MRD detection technology

Vevo Therapeutics and Parse Biosciences collaborate to advance AI-based drug discovery and development

AMP Robotics raises USD 91 million in Series D funding to expand recycling facilities

BioConsortia partners with H&T to launch nitrogen-fixing seed treatment in New Zealand

CyberCube partners with HUB International to provide cyber risk analytics solutions

Ethyca raises USD 10 million in Series A funding to boost capabilities

Keeper Security launches risk management dashboard

Generative AI Applications

California partners with firms to deploy GenAI tools for public service delivery

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