CRG

Ally Bridge Group Announces Key Promotions and New Appointment

Retrieved on: 
Monday, March 4, 2024

Ally Bridge Group (“ABG”), a leading global healthcare investment firm focused on high-impact life science innovation, today announced several key promotions within its investment team and a new appointment to drive the firm’s future growth and expansion as it celebrates its 10th anniversary.

Key Points: 
  • Ally Bridge Group (“ABG”), a leading global healthcare investment firm focused on high-impact life science innovation, today announced several key promotions within its investment team and a new appointment to drive the firm’s future growth and expansion as it celebrates its 10th anniversary.
  • Kevin and Andrew have demonstrated a track record of successful investments and exits for ABG’s Private Equity strategy amidst challenging market conditions.
  • Previously, he was a Managing Director at Leon Capital Group, overseeing capital formation and investor relations for private fund offerings and investments.
  • Prior to that, Zain worked with Kevin Reilly at CRG, where he led capital formation and investor relations across various funds.

T2 Biosystems Announces Agreement with CRG for the Conversion of $15 Million of CRG Term Loan into Equity

Retrieved on: 
Thursday, February 15, 2024

LEXINGTON, Mass., Feb. 15, 2024 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced the entrance into a definitive agreement to convert $15 million of its term loan with entities affiliated with CRG Servicing LLC (“CRG”) into T2 Biosystems equity upon stockholder approval.

Key Points: 
  • LEXINGTON, Mass., Feb. 15, 2024 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced the entrance into a definitive agreement to convert $15 million of its term loan with entities affiliated with CRG Servicing LLC (“CRG”) into T2 Biosystems equity upon stockholder approval.
  • On February 15, 2024, T2 Biosystems entered into a Securities Purchase Agreement with CRG to facilitate the debt conversion.
  • CRG agreed to waive prepayment premiums and back-end fees associated with such principal amounts of loans exchanged for equity.
  • In October 2023, the CRG Term Loan Agreement was amended to extend the interest-only period and maturity date from December 30, 2024 to December 31, 2025 and to permanently reduce the minimum liquidity covenant from $5 million to $500,000.

T2 Biosystems Announces Preliminary Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 15, 2024

LEXINGTON, Mass., Feb. 15, 2024 (GLOBE NEWSWIRE) --  T2 Biosystems, Inc. (NASDAQ:TTOO) (the “Company”), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced preliminary unaudited financial and operational results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • LEXINGTON, Mass., Feb. 15, 2024 (GLOBE NEWSWIRE) --  T2 Biosystems, Inc. (NASDAQ:TTOO) (the “Company”), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced preliminary unaudited financial and operational results for the fourth quarter and full year ended December 31, 2023.
  • Achieved full year 2023 total revenue of $7.2 million, including sepsis and related product revenue of $6.8 million and research and contribution revenue of $0.4 million.
  • Achieved fourth quarter 2023 total revenue of $1.7 million, comprised entirely of product revenue including record sales of the T2Bacteria Panel in the U.S.
  • Executed contracts for 26 T2Dx® Instruments in 2023, including 19 T2Dx Instruments from outside the U.S. and 7 T2Dx Instruments from the U.S.

Cytek® Biosciences Signs Agreement with CRG and UPF to Accelerate Scientific Discoveries

Retrieved on: 
Wednesday, January 17, 2024

FREMONT, Calif. and BARCELONA, Spain, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis solutions company, has signed an agreement with the Centre for Genomic Regulation (CRG) and the Pompeu Fabra University (UPF) to drive technological innovation and accelerate discoveries for the scientific community.

Key Points: 
  • FREMONT, Calif. and BARCELONA, Spain, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis solutions company, has signed an agreement with the Centre for Genomic Regulation (CRG) and the Pompeu Fabra University (UPF) to drive technological innovation and accelerate discoveries for the scientific community.
  • Cytek’s collaboration serves as a testament to the substantial impact of its technology, laying the groundwork for expansion into new applications.
  • Under the terms of the agreement, Cytek will provide new, state-of-the-art spectral cytometry platforms – along with trained support personnel – to the CRG-UPF Flow Cytometry Unit’s headquarters.
  • The Unit, founded in 2001 and based in the Barcelona Biomedical Research Park, is a worldwide reference site for advanced flow cytometry applications.

Vensana Capital Strengthens Team with Promotions and Addition of Venture Partner

Retrieved on: 
Thursday, January 4, 2024

Vensana Capital , a leading medical technology-focused venture capital and growth equity investment firm, today announced the promotions of Amrinder Singh, Cynthia Yee, Greg Banker, and Mike Kramer to Partner and Steve Schwen to Partner & Chief Financial Officer.

Key Points: 
  • Vensana Capital , a leading medical technology-focused venture capital and growth equity investment firm, today announced the promotions of Amrinder Singh, Cynthia Yee, Greg Banker, and Mike Kramer to Partner and Steve Schwen to Partner & Chief Financial Officer.
  • The firm also announced the addition of veteran medtech leader Bill Hoffman as a Venture Partner.
  • “Since launching Vensana in 2019, we have set out to build the deepest, most experienced team in our sector.
  • Bill Hoffman joins Vensana Capital as a Venture Partner.

Calyxo Closes on $50 Million Equity Financing to Support Broad Launch of CVAC Kidney Stone Treatment

Retrieved on: 
Tuesday, December 12, 2023

Calyxo is commercializing the CVAC Aspiration System which uses irrigation and aspiration to remove kidney stones with the goal of minimizing residual stone burden.

Key Points: 
  • Calyxo is commercializing the CVAC Aspiration System which uses irrigation and aspiration to remove kidney stones with the goal of minimizing residual stone burden.
  • Our kidney stone treatment innovations will improve care for patients and have the opportunity to transform the way this condition is treated.
  • “Calyxo has an opportunity to alter the kidney stone treatment category and deliver a new generation of devices that can significantly improve care and comfort for millions of people afflicted by kidney stones.
  • The most commonly used kidney stone treatments today do not reliably remove all of the stone fragments created.

Navidea Biopharmaceuticals, Inc. and Capital Royalty Partners II, L.P. Enter Binding Settlement Agreement and Mutual Release

Retrieved on: 
Friday, December 1, 2023

On August 30, 2022, a judgment was entered against Navidea, plus post-judgment interest, and Navidea appealed.

Key Points: 
  • On August 30, 2022, a judgment was entered against Navidea, plus post-judgment interest, and Navidea appealed.
  • The binding settlement agreement and mutual release resolves the judgment and settles all litigation between Navidea and CRG, including the pending appeal.
  • This settlement agreement and mutual release also positions the Company to continue driving the organization forward and advance its innovative technology to market, following the Navidea’s Fix, Fund, Propel approach.
  • “We are pleased with the result and timing of this settlement,” said Craig A. Dais, Navidea’s Chief Financial Officer.

Associated Bank earns top score in Human Rights Campaign Foundation's 2023-2024 Corporate Equality Index

Retrieved on: 
Thursday, December 14, 2023

GREEN BAY, Wis., Dec. 14, 2023 /PRNewswire/ -- Associated Bank, the largest bank headquartered in Wisconsin, proudly announced that it received a score of 100 on the Human Rights Campaign Foundation's 2023-2024 Corporate Equality Index, the nation's foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality. Associated Bank joins the ranks of 545 major U.S. businesses that also earned top marks this year.

Key Points: 
  • GREEN BAY, Wis., Dec. 14, 2023 /PRNewswire/ -- Associated Bank , the largest bank headquartered in Wisconsin, proudly announced that it received a score of 100 on the Human Rights Campaign Foundation's 2023-2024 Corporate Equality Index, the nation's foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality.
  • Associated Bank joins the ranks of 545 major U.S. businesses that also earned top marks this year.
  • "We are proud to be recognized for our LGBTQ+ equality and inclusion efforts," said Andrew Harmening, President and CEO, Associated Bank.
  • The Human Rights Campaign Foundation is the educational arm of the Human Rights Campaign (HRC), America's largest civil rights organization working to achieve equality for lesbian, gay, bisexual, transgender and queer (LGBTQ+) people.

CISO Global Licenses Cutting Edge Proprietary AI and Neural Net Intellectual Property to New Partner

Retrieved on: 
Thursday, November 2, 2023

“Licensing our full intellectual property portfolio to providers who then create wholly separate offerings in the marketplace will result in new revenue streams for CISO,” said CTO Jerald Dawkins, Ph.D., CISO Global.

Key Points: 
  • “Licensing our full intellectual property portfolio to providers who then create wholly separate offerings in the marketplace will result in new revenue streams for CISO,” said CTO Jerald Dawkins, Ph.D., CISO Global.
  • “The significance of this model is that it extends the reach of CISO Global’s leading-edge technology to help solve widespread cybersecurity problems.
  • CISO’s proprietary solutions will empower CRG to collect and assess network data in real time and with more extensive detail than competitors.
  • “We are excited to partner with CISO Global and their next generation technology” said James Crank, a Partner at CRG Research.

Alliant Insurance Services Acquires 3000 Insurance Group, Expands Presence in Oklahoma

Retrieved on: 
Tuesday, October 31, 2023

Alliant Insurance Services has acquired 3000 Insurance Group (3IG), a retail property and casualty (P&C) insurance and employee benefits firm based in Oklahoma City, OK.

Key Points: 
  • Alliant Insurance Services has acquired 3000 Insurance Group (3IG), a retail property and casualty (P&C) insurance and employee benefits firm based in Oklahoma City, OK.
  • Joining the Alliant Americas division, 3IG provides commercial risk management and personal lines insurance coverages.
  • “Joe Strunk and his team of risk specialists bring to Alliant a robust insurance operation that prides itself on customer-centric service.
  • “We are excited to join Alliant and add its national resources and risk services to our specialized P&C and employee benefits expertise.”
    3IG will operate as Alliant Insurance Services in Oklahoma City, OK.