<div>
  <ul>
    <li>
      <p>
        Verge Genomics, a California-based AI biotechnology company, has entered a 3-year collaboration with Eli Lilly to research and develop novel therapies for the treatment of amyotrophic lateral sclerosis (ALS), a neurodegenerative neuromuscular disease that has no cure at present.
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Verge will receive USD 25 million in an upfront payment, equity investment, and near-term payments through the collaboration. Upon meeting certain development milestones, Verge will receive an additional USD 694 million along with royalty payments.&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Verge will leverage its all-in-human platform to discover and validate new targets for ALS, out of which Eli Lilly will choose up to four targets to be advanced to clinical development and commercialization. Although Verge already has three pre-clinical ALS drugs in its pipeline, including those targeting the PIKFyve enzyme, these are not a part of the agreement with Eli Lilly.&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Founded in 2015, Verge Genomics develops novel therapies using human genomics and artificial intelligence (AI), exclusively targeting neurological diseases, including Parkinson&rsquo;s disease, Alzheimer&rsquo;s disease, and ALS. Its approach lies in identifying a drug that targets a &ldquo;master gene&rdquo; to influence hundreds of other genes. The company developed an all-in-human platform through partnerships with universities, hospitals, and brain tissue banks to eliminate animal models used for drug discovery. 
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.businesswire.com/news/home/20210708005085/en/Verge-Genomics-Announces-Three-Year-Collaboration-With-Lilly-to-Discover-and-Develop-Novel-Treatments-Using-Its-AI-Driven-All-in-Human-Platform">
      Business Wire
    </a>
  </p>
  <p>
    <a href="https://www.forbes.com/sites/leahrosenbaum/2021/07/08/verge-genomics-inks-multi-million-dollar-deal-with-lilly-to-discover-new-als-drugs/?sh=ccc555ef18f6">
      Forbes
    </a>
  </p>
  <p>
    <a href="https://www.fiercebiotech.com/biotech/eli-lilly-taps-verge-genomics-als-deal-worth-25m-upfront">
      Fierce Biotech
    </a>
  </p>
</div>


AI Drug Discovery

Verge Genomics enters collaboration with Eli Lilly securing USD 25 million upfront

Automation and robotics are finally creating solutions for the complexities of doorstep deliveries.

Last-mile Delivery Automation

ANALYST_QUICK_TAKE

<div>
 <p>UK company Wayve, which specializes in autonomous vehicle tech, has successfully raised USD 1.05 billion in a Series C funding round. Major participants of this round included SoftBank Group, NVIDIA, and their existing investor, Microsoft. With this latest round of investment, Wayve's total funds now stand at over USD 1.3 billion.</p>
 <p>The funds accrued will be utilized by the company to further advance its AI-assisted automotive technologies and autonomous driving technologies. Furthermore, Wayve also intends to use this capital to broaden its operations at a global level.</p>
 <p>This funding round has not only been recognized as the largest AI fundraiser in the UK but also ranks among the top 20 AI fund raises worldwide.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Wayve is one of the few companies that offers autonomous vehicle technologies for passenger vehicles and last-mile delivery applications; hence, it is featured in our <a href="https:<br>
//sp-edge.com/industry/70"> Auto Tech </a> and <a href="https:<br>
//sp-edge.com/industry/1"> Last-mile Delivery Automation </a> hubs. With today’s fund raise, Wayve leapfrogs as the second-highest funded privately held company in the Auto Tech space, after US- and China-based autonomous vehicle tech company <a href="https:<br>
//sp-edge.com/companies/588243"> Pony.ai, </a> which has raised USD 1.33 million to date. The company has also become the second-highest funded startup in the Last-mile Delivery Automation space after peer autonomous delivery vehicle developer <a href="https:<br>
//sp-edge.com/companies/454812"> Nuro, </a> which has raised USD 2.1 billion to date.</p>

Wayve raises USD 1.05 billion in Series C funding led by SoftBank

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 <p>Wayve, a UK-based company specialising in autonomous vehicle technology, has successfully raised USD 1.05 billion in a Series C funding round. SoftBank Group led this round of funding, with participation coming from NVIDIA and existing investor Microsoft. The total amount of funds raised by the company now exceeds USD 1.3 billion.</p>
 <p>Wayve stated its intent to use these new funds to further develop autonomous and automated driving technologies. This includes their AI-assisted automotive technologies. Furthermore, there is also a plan to expand the company's operations on a global scale.</p>
 <p>This funding round has been noted as the UK’s largest AI fundraiser, and is also one of the top 20 AI fund raises worldwide.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> Wayve is one of the few companies that offers autonomous vehicle technologies for passenger vehicles and last-mile delivery applications; hence, it is featured in our <a href="https:<br>
//sp-edge.com/industry/70"> Auto Tech </a> and <a href="https:<br>
//sp-edge.com/industry/1"> Last-mile Delivery Automation </a> hubs. With today’s fund raise, Wayve leapfrogs as the second-highest funded privately held company in the Auto Tech space, after US- and China-based autonomous vehicle tech company <a href="https:<br>
//sp-edge.com/companies/588243"> Pony.ai, </a> which has raised USD 1.33 million to date. The company has also become the second-highest funded startup in the Last-mile Delivery Automation space after peer autonomous delivery vehicle developer <a href="https:<br>
//sp-edge.com/companies/454812"> Nuro, </a> which has raised USD 2.1 billion to date.</p>

Using real-time data to create dynamic virtual representations of the real world

Digital Twin

<div>
 <p>Digital Twin solution provider, inHEART, has raised USD 11 million in a funding round. The round was co-led by Vesalius Biocapital IV and Elaia Partners. Other participants included NACO, Sagana, Sofia Angel Ventures, and other investors.</p>
 <p>inHEART also sourced funds through a crowd equity campaign on Tudigo and received money from the UK-based impact fund Astorg Foundation. Collectively, these fund-raising initiatives have garnered USD 15.2 million for the company.</p>
 <p>The company aims to use the new funds for commercial expansion into the US, EU, Asia-Pacific, and Middle East markets. It also intends to increase development of its AI software solutions designed for various cardiac conditions.</p>
</div>

inHEART raises USD 11 million for commercial expansion

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

<div>
 <p>AI-powered healthcare firm HEALWELL AI, based in Toronto, has announced a bought-deal private placement to raise USD 16 million. This consists of about 12 million units priced at USD 1.35 per share, with closure expected by May 24, 2024, depending on regulatory approvals.</p>
 <p>HEALWELL AI has entered into an agreement with Clarus Securities and Eight Capital, a syndicate of underwriters. Each unit in the agreement consists of a Class A subordinate voting share and half of one common share purchase warrant of the company.</p>
 <p>The company has plans to use the net proceeds from this offering towards its growth strategies and for routine corporate and working capital needs.</p>
 
</div>

HEALWELL AI raises USD 16 Million via bought-deal private placement

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
   <p>Accenture and Oracle have joined hands to create new GenAI solutions for improving financial operations and planning. The partnership will leverage Oracle Cloud Infrastructure's Generative AI for real-time data analysis and advice for finance teams, helping improve decision-making in procurement spend analysis, financial planning, and dynamic scenario planning. Moreover, Accenture's private switchboard will be used to assist customers in choosing foundational models based on cost or accuracy.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The partnership broadens Accenture’s customer base for its proprietary switchboard (launched in <a href="https:<br>
//sp-edge.com/updates/24557"> November 2023 </a> ). In <a href="https:<br>
//sp-edge.com/updates/27793"> March 2024 </a> , Accenture partnered with AWS and Anthropic to provide its LLM fine-tuning services for Anthropic’s models.</p>

Accenture partners with Oracle to build GenAI tools for finance

Reinventing gene therapies with next-generation technologies

Human Gene Editing

<div>
 
 <p>Gene-editing company, Cellectis, has received an additional $140 million in equity investment from AstraZeneca, raising AstraZeneca's stake in Cellectis to 44%. This transaction forms part of the ongoing collaboration between the two firms that began in <a href="https://sp-edge.com/updates/23389"> November 2023 </a>.</p>
 
<p>The investment will further support their joint development of up to ten new cell and gene therapy products. The main focus areas will be oncology, immunology, and rare diseases which have large unmet medical needs. Cellectis stands to gain an option fee and milestone payments ranging from $70 million to $220 million per program.</p>
   
<p>AstraZeneca will have worldwide exclusive license options for the developed candidate products through this collaboration.</p>

</div>

Cellectis secures additional equity investment of USD 140 million from AstraZeneca

Novel therapies to reboot cells and organs

Cell & Gene Therapy

<div>
 
 <p>Gene editing and CAR T-cell therapy company, Cellectis, has obtained an additional equity funding of USD 140 million (28 million shares at USD 5 per share) from AstraZeneca, adding to its existing collaboration begun in <a href="https://sp-edge.com/updates/23389"> November 2023 </a>. This new injection of funds gives AstraZeneca a 44% stake in Cellectis.</p>
 <p>The funds will bolster the the partnership efforts involving Cellectis' gene-editing technologies and the development of up to 10 new gene and cell therapy products, targeting areas with high unmet need, such as immunology, oncology, and rare diseases. Each scheme could earn Cellectis anywhere from USD 70 million to USD 220 million in option fees and milestone payments.</p>
 <p>AstraZeneca retains a worldwide exclusive license option for the candidate products developed under this agreement.</p>
 
</div>

<div>
 
 <p>OverT Bio, a cancer-focused cell therapy company, has raised USD 16 million in seed funding. The financing round was co-led by ARTIS Ventures and Wing VC, and included investments from Fusion Fund, OMX Ventures, and Alexandria Venture Investments.</p>
 <p>The funds will be used to improve discovery platforms, with a particular emphasis on developing new cell therapies for advanced solid tumors.</p>
 <p>The company specializes in creating cellular therapies for treating solid tumors. It uses two platforms called OverTarget and OverTune to develop engineered immune cells that can be used in immunotherapy for cancer treatment. The techniques involve researching the full human genome to improve the life and efficiency of cell therapies in eliminating cancers.</p>
 
</div>

OverT Bio emerges from stealth with USD 16 million in seed funding

Empowering sustainable food innovation through food engineering tech

Novel Foods

<div>
 <p>A Canadian firm, CULT Food Science, leader in the cellular agriculture technologies and products domain, has raised CAD 800,000 (~USD 585,140) by selling 16,000,000 units at CAD 0.05 (~USD 0.04) per unit. The private placement was administered by PowerOne Capital Markets Limited.</p>
 <p>The funds will be channeled towards expanding the Noochies! Freeze-Dried Dog and Cat Snacks line. Noochies! is recognized as North America's first vegan cat treat and is made using Bmmune, a cultured yeast protein.</p>
</div>
 <p><b>Analyst QuickTake:<br>
 </b> Beyond its investments in cellular agriculture, CULT Food Science has developed proprietary pet food ingredients. These include Bmmune, a nutritional yeast fused with fermented proteins, Bflora, a probiotic tailored for the gastrointestinal health of cats and dogs, and <a href="https:<br>
//sp-edge.com/updates/24575"> Bmeaty </a> , an ingredient that adds umami flavor to pet food products.</p>

CULT Food Science raises CAD 800,000 via private placement to expand sustainable pet food range

A new wave of meat, fish, and poultry alternatives are driving this hyper-growth industry into the mainstream.

Plant-based Meat

<div>
 <p>THIS, a UK-based plant-based meat company, has launched a unique, hyper-realistic plant-based chicken thigh product. It's the first such product to hit retail markets.</p>
 <p>This product uses three proprietary technologies to replicate the complex three-dimensional structure of real meat. It uses extrusion technology to get a meat-like texture, incorporates olive oil-based fat for richness, and applies a seaweed layer to emulate the texture of chicken skin.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> This new product joins the company’s extensive range of plant-based chicken offerings that includes products like <a href="https:<br>
//sp-edge.com/updates/23904"> THIS Isn’t Chicken Pieces </a> , <a href="https:<br>
//sp-edge.com/updates/25182"> THIS Isn’t Chicken Breast </a> , and the recently launched <a href="https:<br>
//sp-edge.com/updates/28147"> THIS Isn’t Chicken Shawarma </a> .</p>

All Updates

Wayve raises USD 1.05 billion in Series C funding led by SoftBank

Wayve raises USD 1.05 billion in Series C funding led by SoftBank

inHEART raises USD 11 million for commercial expansion

HEALWELL AI raises USD 16 Million via bought-deal private placement

Accenture partners with Oracle to build GenAI tools for finance

Cellectis secures additional equity investment of USD 140 million from AstraZeneca

Cellectis secures additional equity investment of USD 140 million from AstraZeneca

OverT Bio emerges from stealth with USD 16 million in seed funding

CULT Food Science raises CAD 800,000 via private placement to expand sustainable pet food range

THIS launches most realistic plant-based chicken product to date