Saturday, August 28, 2021

EngageSmart Files Registration Statement for Proposed Initial Public Offering

 BRAINTREE, Mass.-Friday 27 August 2021 [ AETOS Wire ]


(BUSINESS WIRE) -- EngageSmart, LLC (“EngageSmart”), a leading provider of vertically-tailored customer engagement software and integrated payments solutions, today announced it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined. EngageSmart intends to list its common stock on the New York Stock Exchange under the ticker symbol “ESMT.”


J.P. Morgan, Goldman Sachs & Co. LLC, BofA Securities and Citigroup will act as lead book-running managers for the proposed offering. Deutsche Bank Securities, Raymond James, Truist Securities, and William Blair will act as book-runners for the proposed offering. KeyBanc Capital Markets, Needham & Company, Penserra Securities LLC, R. Seelaus & Co., LLC and Roberts and Ryan will act as co-managers for the proposed offering.


The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, via telephone: (866) 471-2526, or via email: prospectus-ny@ny.email.gs.com; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, by telephone at (800) 299-1322 or by e-mail at dg.prospectus_requests@bofa.com; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, toll-free: (800) 831-9146, or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, New York, NY 10010.


A registration statement on Form S-1 relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.


This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


About EngageSmart LLC


EngageSmart, LLC (“EngageSmart”) is a leading provider of vertically-tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus their time and energy on initiatives that improve their businesses and better serve their communities. Headquartered in Braintree, Massachusetts, EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. EngageSmart serves more than 68,000 customers in the SMB Solutions segment and more than 3,000 customers in the Enterprise Solutions segment across five core verticals: Health & Wellness, Government, Utilities, Financial Services, and Giving.


View source version on businesswire.com: https://www.businesswire.com/news/home/20210827005155/en/


Contacts

Investor Contact:


David Calusdian

dcalusdian@investorrelations.com

617-542-5300


Press Contact:


Nicole Bestard

nicole@qh-pr.com

646-627-3644



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Society for the Advancement of Patient Blood Management (SABM) Publication Recommends Continuous Hemoglobin Monitoring

  Esteemed Society Recommends the Use of Continuous Hemoglobin Monitoring as Part of Patient Blood Management to Improve Patient Outcomes

IRVINE, Calif.-Saturday 28 August 2021 [ AETOS Wire ]

(BUSINESS WIRE) -- Masimo (NASDAQ: MASI) announced today the conclusions of a whitepaper published by the Society for the Advancement of Patient Blood Management (SABM) which highlights the importance of continuous hemoglobin (Hgb) monitoring to improve patient outcomes in critical care and perioperative settings.1 The authors of the publication concluded that “continuous Hgb monitoring devices provide highly valuable real-time trending data that can assist clinicians in making timelier decisions.”

Founded in 2001, SABM is recognized as a key educational resource for Patient Blood Management (PBM). The society defines PBM as the timely application of evidence-based medical and surgical concepts designed to maintain Hgb concentration, optimize hemostasis and minimize blood loss in an effort to improve patient outcomes. To that end, the SABM whitepaper reviews over 10 years of peer-reviewed publications on continuous hemoglobin in making its conclusion. The whitepaper notes that “having continuous access to Hgb levels in real-time offers a clear advantage over the traditional measurement methods as it enables the clinicians to detect changes in Hgb levels quickly and adjust the clinical management strategies accordingly.”

Masimo offers noninvasive and continuous hemoglobin monitoring, SpHb®, as part of its rainbow® Pulse CO-Oximetry platform. To display SpHb trends, Masimo rainbow® sensors can connect to a variety of Masimo Pulse CO-Oximeters®, including patient monitors available or in development from more than 20 other Masimo OEM Partners. For details, visit masimo.com/oem/partners. By utilizing multiple wavelengths of light, SpHb provides real-time visibility to changes, or lack of changes, in hemoglobin between invasive blood samples.

Continuous hemoglobin monitoring with SpHb as part of PBM programs has been found to improve outcomes in both high- and low- blood loss surgeries, such as reducing the percentage of patients receiving transfusions,2 reducing the units of red blood cells transfused per patient,3-4 reducing the time to transfusion,5 reducing costs,6 and even reducing mortality 30 and 90 days after surgery by 33% and 29%, respectively.7 This evidence of SpHb’s impact on outcomes spans the globe, representing 6 countries on 4 different continents.2-8

One of the key references cited by the whitepaper is the recent SABM Administrative and Clinical Standards for PBM Programs (5th edition). These standards recommend the “use of noninvasive hemoglobin and other laboratory measurements” as part of a strategy to reduce phlebotomy blood loss.9 Similarly, the latest pediatric standards from SABM (4th edition) recommend that “noninvasive techniques are used for monitoring of blood gases, hemoglobin and other analytes whenever possible.”10

Sherri Ozawa, RN, President of SABM, commented, “We believe that comprehensive patient blood management will be the global standard of care. The evidence shows that patient outcomes are better when a patient’s own blood is well managed and unnecessary transfusions are avoided. Clinicians need access to timely information that allows them to make better informed decisions, such as the information provided by noninvasive hemoglobin technology.”

The SABM whitepaper also discusses the role of pleth variability index (PVi®) as part of PBM. PVi is a continuous, noninvasive, dynamic indicator of fluid responsiveness in select populations of mechanically ventilated adult patients. It is a measure of the dynamic changes in perfusion index that occur during the respiratory cycle. The authors note that “combining such a measure with noninvasive Hgb monitoring can yield a more comprehensive picture of the hemodynamic and circulatory status of the patients.” More than 100 independent studies have demonstrated the utility of PVi as an indicator of fluid responsiveness.11

Dr. William Wilson, Chief Medical Officer of Masimo, stated, “Anesthesiologists and critical care physicians have long recognized the importance of dynamic measures of intravascular volume and fluid responsiveness. With the combination of PVi and SpHb, clinicians have a wealth of information at the bedside accessible through something as ubiquitous as a pulse oximetry sensor.”

Joe Kiani, Founder and CEO of Masimo, commented, “Since the launch of SpHb in 2008, we have seen over 75 countries adopt this technology and numerous publications noting its positive impact on outcomes. SABM is recognized as the premier provider of professional education in patient blood management. It’s great to see SABM recommend the use of SpHb and PVi to help improve patient outcomes.”

SpHb is not intended to replace laboratory blood testing. Clinical decisions regarding red blood cell transfusions should be based on the clinician's judgment considering, among other factors, patient condition, continuous SpHb monitoring, and laboratory diagnostic tests using blood samples.

The accuracy of PVi in predicting fluid responsiveness is variable and influenced by numerous patient, procedure, and device-related factors. PVi measures the variation in the plethysmography amplitude but does not provide measurements of stroke volume or cardiac output. Fluid management decisions should be based on a complete assessment of the patient’s condition and should not be based solely on PVi.

@Masimo | #Masimo

About Masimo

Masimo (NASDAQ: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. Our mission is to improve patient outcomes, reduce the cost of care, and take noninvasive monitoring to new sites and applications. Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies.12 Masimo SET® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,13 improve CCHD screening in newborns,14 and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs.15-18 Masimo SET® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,19 and is the primary pulse oximetry at 9 of the top 10 hospitals as ranked in the 2021-22 U.S. News and World Report Best Hospitals Honor Roll.20 Masimo continues to refine SET® and in 2018, announced that SpO2 accuracy on RD SET® sensors during conditions of motion has been significantly improved, providing clinicians with even greater confidence that the SpO2 values they rely on accurately reflect a patient’s physiological status. In 2005, Masimo introduced rainbow® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine® Brain Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography with NomoLine® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7® and Radius PPG™, portable devices like Rad-67®, fingertip pulse oximeters like MightySat® Rx, and devices available for use both in the hospital and at home, such as Rad-97®. Masimo hospital automation and connectivity solutions are centered around the Masimo Hospital Automation™ platform, and include Iris® Gateway, iSirona™, Patient SafetyNet, Replica™, Halo ION™, UniView®, UniView :60™, and Masimo SafetyNet™. Additional information about Masimo and its products may be found at www.masimo.com. Published clinical studies on Masimo products can be found at www.masimo.com/evidence/featured-studies/feature/.

ORi and RPVi have not received FDA 510(k) clearance and are not available for sale in the United States. The use of the trademark Patient SafetyNet is under license from University HealthSystem Consortium.

References

  1. Society for the Advancement of Blood Management (SABM). Improvement of Patient Outcomes with Hemoglobin Monitoring in the Critical Care and Perioperative Setting. Publications. 2021, January. https://sabm.org/wp-content/uploads/SABM-HbMonitoringWhitepaper.pdf
  2. Ehrenfeld JM et al. Continuous Non-invasive Hemoglobin Monitoring during Orthopedic Surgery: A Randomized Trial. J Blood Disorders Transf. 2014. 5:9. 2.
  3. Awada WN et al. Continuous and noninvasive hemoglobin monitoring reduces red blood cell transfusion during neurosurgery: a prospective cohort study. J Clin Monit Comput. 2015 Feb 4.
  4. Imaizumi et al. Continuous and noninvasive hemoglobin monitoring may reduce excessive intraoperative RBC transfusion. Proceedings from the 16th World Congress of Anaesthesiologists, Hong Kong. Abstract #PR607.
  5. Kamal AM et al. The Value of Continuous Noninvasive Hemoglobin Monitoring in Intraoperative Blood Transfusion Practice During Abdominal Cancer Surgery. Open J Anesth. 2016;13-19.
  6. Ribed-Sánchez B et al. Economic Analysis of the Reduction of Blood Transfusions during Surgical Procedures While Continuous Hemoglobin Monitoring is Used. Sensors. 2018, 18, 1367; doi:10.3390/s18051367.
  7. Cros J et al. Continuous hemoglobin and plethysmography variability index monitoring can modify blood transfusion practice and is associated with lower mortality. J Clin Monit Comp. 3 Aug 2019. https://doi.org/10.1007/s10877-019-00367-z.
  8. Merolle L, Marraccini C, Di Bartolomeo E, Montella M, Pertinhez T, Baricchi R, Bonini A. Postoperative patient blood management: transfusion appropriateness in cancer patients. Blood Transfus 2020; 18: 359-65 DOI 10.2450/2020.0048-20.
  9. Society for the Advancement of Blood Management (SABM). SABM Administrative and Clinical Standards for Patient Blood Management Programs 5th Edition. Publications. 2019. https://sabm.org/wp-content/uploads/SABM-Standards-20196.pdf
  10. Goobie SM, Gallagher T, Gross I, Shander A. Society for the advancement of blood management administrative and clinical standards for patient blood management programs. 4th edition (pediatric version). Paediatr Anaesth. 2019 Mar;29(3):231-236. doi: 10.1111/pan.13574. PMID: 30609198.
  11. Published clinical studies on PVi, with varying results and outcomes, can be found on our website at http://www.masimo.com/evidence/pulse-oximetry/pvi. Studies include independent and objective studies which are comprised of abstracts presented at scientific meetings and peer-reviewed journal articles.
  12. Published clinical studies on pulse oximetry and the benefits of Masimo SET® can be found on our website at http://www.masimo.com. Comparative studies include independent and objective studies which are comprised of abstracts presented at scientific meetings and peer-reviewed journal articles.
  13. Castillo A et al. Prevention of Retinopathy of Prematurity in Preterm Infants through Changes in Clinical Practice and SpO2 Technology. Acta Paediatr. 2011 Feb;100(2):188-92.
  14. de-Wahl Granelli A et al. Impact of pulse oximetry screening on the detection of duct dependent congenital heart disease: a Swedish prospective screening study in 39,821 newborns. BMJ. 2009;Jan 8;338.
  15. Taenzer A et al. Impact of pulse oximetry surveillance on rescue events and intensive care unit transfers: a before-and-after concurrence study. Anesthesiology. 2010:112(2):282-287.
  16. Taenzer A et al. Postoperative Monitoring – The Dartmouth Experience. Anesthesia Patient Safety Foundation Newsletter. Spring-Summer 2012.
  17. McGrath S et al. Surveillance Monitoring Management for General Care Units: Strategy, Design, and Implementation. The Joint Commission Journal on Quality and Patient Safety. 2016 Jul;42(7):293-302.
  18. McGrath S et al. Inpatient Respiratory Arrest Associated With Sedative and Analgesic Medications: Impact of Continuous Monitoring on Patient Mortality and Severe Morbidity. J Patient Saf. 2020 14 Mar. DOI: 10.1097/PTS.0000000000000696.
  19. Estimate: Masimo data on file.
  20. http://health.usnews.com/health-care/best-hospitals/articles/best-hospitals-honor-roll-and-overview.

Forward-Looking Statements

This press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, in connection with the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding the potential effectiveness of Masimo SpHb® and PVi®. These forward-looking statements are based on current expectations about future events affecting us and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond our control and could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements as a result of various risk factors, including, but not limited to: risks related to our assumptions regarding the repeatability of clinical results; risks related to our belief that Masimo's unique noninvasive measurement technologies, including Masimo SpHb and PVi, contribute to positive clinical outcomes and patient safety; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; risks related to COVID-19; as well as other factors discussed in the "Risk Factors" section of our most recent reports filed with the Securities and Exchange Commission ("SEC"), which may be obtained for free at the SEC's website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date. We do not undertake any obligation to update, amend or clarify these statements or the "Risk Factors" contained in our most recent reports filed with the SEC, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210826005434/en/


Contacts

Masimo
Evan Lamb
949-396-3376
elamb@masimo.com

 

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DeFi Lending Protocol Euler Closes $8M Series A Round Led By Paradigm

 LONDON-Friday 27 August 2021 [ AETOS Wire ]


(BUSINESS WIRE) -- The developers of Euler, the first lending protocol that allows users to create their own lending markets in a permissionless fashion, announced today that they have completed an $8 million Series A round led by Paradigm. The new funding will help to grow the Euler developer team in anticipation of the protocol’s launch later this year and provide support to help integrate the protocol into the wider DeFi ecosystem.


“The long tail of DeFi assets is enormous and underserved by existing lending protocols,” said Charlie Noyes, investment partner at Paradigm. “The Euler team is creating something that meets the need in a novel, scalable way, and we're excited to support the development.”


Lead seed round investor Lemniscap joined the round, which also included other leading angel investors such as Anthony Sassano from The Daily Gwei, Ryan Sean Adams from Bankless, Kain Warwick from Synthetix and Hasu from Uncommon Core.


Michael Bentley, co-founder of Euler said that the protocol had been, “Custom-built to support permissionless listing of almost any crypto asset, without governance limiting what people can lend or borrow.”


“A lot of research and development time has gone into figuring out how to allow users to lend and borrow almost any crypto asset in a capital-efficient way, whilst limiting the risks that some of these more volatile assets sometimes pose. Euler is purpose-built for people and organizations looking for long-term storage and yield opportunities.” added the co-founder of Euler.


Euler was incubated by Encode Club, a worldwide community of blockchain developers primarily associated with universities. It was at an Encode hackathon last summer that Bentley, himself a former postdoctoral researcher at the University of Oxford, met his co-founders, Jack Prior and Doug Hoyte.


The team’s goal is now to launch the protocol by the end of the year, integrate the protocol into the wider DeFi ecosystem, and start on the path to handing control of the protocol over to a decentralized community of custodians.


About Euler


Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party. Euler features a number of innovations not seen before in DeFi, including permissionless lending markets, reactive interest rates, protected collateral, MEV-resistant liquidations, multi-collateral stability pools, sub-accounts, risk-adjusted loans and much more. For more information, visit euler.finance.


About Paradigm


Founded in 2018, Paradigm is a leading crypto-focused investment firm based in San Francisco. The firm invests in crypto assets and businesses from the earliest stages of idea formation through maturity. Paradigm is driven by the conviction that crypto has the potential to bring greater freedom, autonomy, and economic benefit to people around the world, and supports that belief through investments in founders and projects that move the crypto ecosystem forward. For more information, visit paradigm.xyz.


View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005642/en/


Contacts

Bella Szabo

bella@euler.xyz



Permalink : https://www.aetoswire.com/news/defi-lending-protocol-euler-closes-8m-series-a-round-led-by-paradigm/en

Friday, August 27, 2021

Moody's ESG Solutions Launches Data Solution to Help Investors Align Strategies with UN Sustainable Development Goals

  LONDON-Friday 27 August 2021 [ AETOS Wire ]


(BUSINESS WIRE) -- Moody’s ESG Solutions today launched SDG Alignment Screening, a data solution that helps investors integrate the United Nations (UN) Sustainable Development Goals (SDGs) into SDG-aligned investment strategies, funds, indices, and reporting. Adopted in 2015 as part of the UN’s 2030 Agenda for Sustainable Development, the 17 SDGs are a call to action to spur economic growth, promote social inclusiveness, and improve environmental sustainability.


“With less than a decade left to achieve the 2030 Agenda for Sustainable Development, investors have a key role to play in providing the necessary finance to help meet the SDGs, which requires them to be presented as simple metrics,” said Sabine Lochmann, Global Head of Moody’s ESG Measures. “Our SDG Alignment Screening provides high-quality data, helping investors leverage the SDGs both as part of risk management and reporting frameworks, and as a capital allocation guide.”


Moody’s new solution provides data for approximately 5,000 listed companies covering over 300 data points. The screening methodology adopts a dual materiality approach, capturing both the contributions that a company makes to the SDGs through its products and services, as well as a company’s impact on the SDGs through its management systems and stakeholder relations.


Earlier this month, Moody’s launched Global Compact Screening, which assesses companies against the standards of the UN Global Compact, the world’s largest corporate sustainability initiative.


To learn more about Moody’s SDG Alignment Screening and Global Compact Screening, visit www.moodys.com/esg-measures.


ABOUT MOODY’S ESG SOLUTIONS


Moody’s ESG Solutions Group is a business unit of Moody’s Corporation serving the growing global demand for ESG and climate insights. The group leverages Moody’s data and expertise across ESG, climate risk, and sustainable finance, and aligns with Moody's Investors Service and Moody's Analytics to deliver a comprehensive, integrated suite of ESG and climate risk solutions including ESG scores, analytics, Sustainability Ratings and Sustainable Finance Reviewer/certifier services.


Moody’s ESG Solutions Group includes V.E and Four Twenty Seven, both affiliates of Moody’s. For more information visit Moody’s ESG & Climate Risk hub at www.moodys.com/esg


View source version on businesswire.com: https://www.businesswire.com/news/home/20210826005299/en/


Contacts

Moody’s ESG Solutions:


Lisa Stanton

MD-Global Sales Lead/ESG

+1 (415) 874-6000

Lisa.Stanton@moodys.com


Media inquiries:


Tim Whatmough

VP-Communications

+33 (153) 303-385

Tim.Whatmough@moodys.com


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Jon Patty Joins White Oak as Managing Director

 

SAN FRANCISCO-Thursday 26 August 2021 [ AETOS Wire ]

(BUSINESS WIRE) -- White Oak Global Advisors ("White Oak") is pleased to welcome Jon Patty as a Managing Director and a partner based in the San Francisco office. Mr. Patty joins White Oak’s Head of ESG & Impact, Terésa Cutter, and is responsible for leading new ESG and Impact-oriented investment opportunities and strategies, as well as working closely with White Oak’s clients and borrowers.

Mr. Patty is an accomplished impact investor with a successful background investing in private equity, private credit, structured debt, and sustainable infrastructure. Over the course of his twenty year investment career, Mr. Patty has partnered with senior executives across sectors and served on numerous boards of directors to help drive both compelling impact outcomes and strong financial results.

Mr. Patty most recently served as Managing Director and Head of Private Equity at New Island Capital, one of the largest institutional-scale, global impact investment firms, for 10 years. Prior to that, he worked for MC Partners, a $1.5 billion private equity firm, and JPMorgan Capital, then a $4 billion private equity effort. Mr. Patty previously worked in strategic management consulting at Bain & Co. and in investment banking at JPMorgan.

“We are excited to welcome Jon to the team,” said Andre Hakkak, CEO and co-founder of White Oak. “His deep expertise and proven track record in supporting the growth of mission-driven businesses complement White Oak’s dedication to partnering with strong management teams who aspire to the highest ESG standards while building high quality, financially rewarding businesses.”

“I am thrilled to join a world-class organization with a commitment to driving strong social and environmental outcomes with its partners, and I look forward to bringing White Oak’s impact perspective and customized product offerings to mission-driven companies,” said Mr. Patty. “White Oak has a track record of leading creative, flexible financings using a partnership-driven approach, and now has the opportunity to help companies implement the highest ESG standards, deepen their impact, and extend their financial success.”

White Oak (together with and through its financing affiliates) has a track record of over $3.8 billion in ESG-aligned investments since inception. White Oak's impact strategy focuses on secured loan lending to small and medium sized companies committed to providing products and services that create positive environmental and social impact while building economically sustainable businesses.

About White Oak Global Advisors

White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. For more information, visit www.whiteoaksf.com.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210825005213/en/

Contacts

Prosek Partners (on behalf of White Oak Global Advisors)
William Szczecinski
Pro-whiteoak@prosek.com

 

 
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Mavenir Acquires Telestax to Enhance Its Business Messaging and Customer Engagement Platform with CPaaS

 Enables flexibility, specialization, and innovation in a SaaS model


RICHARDSON, Texas-Thursday 26 August 2021 [ AETOS Wire ]

(BUSINESS WIRE) -- Mavenir, the global leader in mobile messaging and business messaging monetization solutions for service providers, announced today that it has acquired Telestax Inc., a leading global Communications Platform as a Service (CPaaS) enablement and application provider to the communications industry. This acquisition enhances Mavenir Engage, Mavenir’s omni-channel messaging monetization and customer engagement offerings by:

    enabling service providers with new agile, nimble SaaS service models to better compete in the new digital economy

    delivering specialization, flexibility, and simplicity to meet the needs of businesses of all sizes across a broad spectrum of industry verticals

    providing service innovation and feature velocity with easy-to-consume APIs and business-critical applications

“Communication Platforms are becoming a key differentiator for service providers,” said Pardeep Kohli, President and CEO, Mavenir. “They will unlock enterprise value in 5G with API enablement for different verticals such as IoT, Smart Cities, Automotive and provide turnkey applications for logistics, fleet management, AI/ML chatbots, voice biometrics verification, immersive commerce/entertainment and many other use cases.”

“The early definition of CPaaS in terms of PSTN connectivity has been augmented to include a much broader range of services. Vendors that provide the full communication service stack – including the API layer and network infrastructure – have a competitive advantage from those whose strategy primarily focuses on the API layer and relies on partnerships to provide access to the network layer,”1 said Raúl Castañón-Martínez, Sr. Analyst, Workforce Productivity and Collaboration at 451 Research, a division of S&P Global Market Intelligence. According to 451 Research's Workforce Productivity & Collaboration 2021 CPaaS Market Monitor, total market revenue increased by well over 40% to $6.5bn in 2020, and will account for roughly $21bn in 2025, a CAGR of 26%.

“CPaaS is the key enabling technology for our Mavenir Engage service to position Communications Service Providers (CSPs) at the forefront of the digital engagement landscape,” said Ian Maclean, SVP/GM Cloud Services at Mavenir, “With this acquisition, Mavenir is lowering the barrier of entry and democratizing business messaging for businesses of all sizes to implement conversational commerce experiences.”

Mavenir Engage is Mavenir’s cloud-based messaging monetization and customer engagement offering that provides CSPs, systems integrators and channel partners with RCS Business Messaging (RBM), messaging monetization capabilities, chatbots, campaign management, and access to different messaging ecosystems—such as Google RCS Business Messaging.

Clark Peterson, Chairman, Cloud Communications Alliance, said: “Telestax has been a key partner to help drive the transformation of the CPaaS industry. Being part of the Mavenir family brings the breadth of portfolio to add new capabilities and further advance innovative customer offerings in Cloud Communications.”

Mavenir empowers service providers to give enterprises the ability to optimize workflows and customize business applications to better engage customers and employees. Eliminating complexity for their employees, increasing productivity and, most importantly, delighting their customers with a better customer experience.

Jean Deruelle, co-founder and CTO, Telestax, said: “From our roots as an Open-Source communications disruptor that defined the CPaaS Enablement Market with the Restcomm API framework, we are incredibly excited to join forces and combine our capabilities with Mavenir’s extensive 5G and omni-channel messaging portfolio in the next step of our journey to keep helping carriers globally define the future of business communications.”

About Mavenir

Mavenir is building the future of networks and pioneering advanced technology, focusing on the vision of a single, software-based automated network that runs on any cloud. As the industry’s only end-to-end, cloud-native network software provider, Mavenir is focused on transforming the way the world connects, accelerating software network transformation for 250+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. www.mavenir.com

_____________________

1 451 Research, “Communications Platforms as a Service Market Guide 2021”

View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005157/en/

Contacts

Mavenir PR Contact:

Maryvonne Tubb
Mavenir
PR@mavenir.com

Casey Bush
GlobalResultsPR (US)
mavenir@globalresultspr.com

Kevin Taylor
GlobalResultsPR (EMEA)
mavenir@globalresultspr.com


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RubrYc Therapeutics Announces Series A2 Preferred Equity Financing, Collaboration, and RTX-003 License with iBio, Inc.

 SAN CARLOS, Calif.-Thursday 26 August 2021 [ AETOS Wire ]

(BUSINESS WIRE) -- RubrYc Therapeutics, Inc. (“RubrYc”) and iBio, Inc. (“iBio”, NYSEA: IBIO) announced today the closing of RubrYc’s Series A2 Preferred Financing, and concomitant License and Collaboration Agreements directed towards the research, development, and commercialization of epitope-targeted antibody therapeutics. With this transaction, iBio becomes an important strategic investor with its $7.5M investment in the RubrYc’s Series A2 Preferred equity, joining Third Point Ventures, Paladin Capital Group, Vital Venture Capital, and Hayan Health Networks in the Company’s investor syndicate. Additionally, iBio secures exclusive worldwide rights to advance RubrYc’s lead program, RTX-003, a CD25 targeted monoclonal antibody for selective depletion of regulatory T cells in the solid tumor microenvironment.

The collaboration will allow the parties to combine RubrYc’s Discovery Engine and antibody discovery expertise with iBio’s capabilities as a developer of next-generation biopharmaceuticals and pioneer of the sustainable FastPharming Manufacturing System® to create novel therapies for patients in need. Under the terms of the agreement RubrYc will be responsible for the discovery of epitope-targeted drug candidates using RubrYc’s proprietary Meso-scale Engineered Molecules to steer antibody discovery campaigns to particular epitopes on mutually agreeable disease targets. iBio will collaborate in discovery campaigns and will be responsible for conducting preclinical, clinical and commercialization activities for the selected drug candidates from the collaboration.

Under the terms of the agreement, if iBio develops and commercializes multiple candidates produced in the collaboration, RubrYc could receive more than $84 million as milestone payments related to discovery and development activities. RubrYc may also receive royalties on worldwide net sales of any commercial products developed through the collaboration.

“We are excited to collaborate with iBio,” stated RubrYc’s Co-Founder and Chief Executive Officer, Isaac Bright, MD, “an ambitious partner whose strategic transformation is aligned with our vision to efficiently discover and develop epitope-targeted therapies that promise to outperform conventionally discovered precedent molecules. iBio is also a fantastic partner to advance our lead campaign, RTX-003, an anti-CD25 monoclonal antibody we’ve discovered that shows tremendous promise as a regulatory T Cell depletor for multiple solid tumor indications.”

“We expect RubrYc’s epitope-targeting antibody discovery technology to drive differentiated campaigns attacking challenging targets, and to efficiently confer multiple opportunities to discover and advance epitope-advantaged antibodies against well-characterized oncology targets,” said iBio’s Chief Executive Officer, Tom Issett who will join RubrYc’s Board of Directors. “RTX-003 is a remarkable asset to add to our therapeutic pipeline, and we look forward to completing IND-enabling activities as we continue to expand our discovery and development capabilities.”

About RubrYc Therapeutics, Inc.

RubrYc Therapeutics, Inc., is a biotechnology company applying proprietary machine-learning and computational biology solutions to discover epitope-selective mono and bispecific antibodies. Inspired by recent advances in molecular library synthesis, massively parallel screening and computing, RubrYc is forging a new path for information-driven discovery of therapeutic antibodies. RubrYc Therapeutics, Inc. leverages its Discovery Engine to rapidly identify large numbers of antibodies with unique binding properties against validated and challenging targets. RubrYc spun out of HealthTell, Inc. in 2018 to advance discovery of biotherapeutics, and to partner with top-tier pharmaceutical companies that share its mission to expand therapeutic options and improve outcomes for patients in need. RubrYc is based in San Carlos, California. For more information, visit www.rubryc.com.

About iBio, Inc.

iBio is a global leader in sustainable, plant-based biologics manufacturing. Its FastPharming System® combines vertical farming, automated hydroponics, and novel glycosylation technologies to rapidly develop high-quality monoclonal antibodies, vaccines, bioinks and other proteins. iBio is developing proprietary drug candidates which include biopharmaceuticals for the treatment of cancers, as well as fibrotic and infectious diseases. The Company’s subsidiary, iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services along with Glycaneering Development Services™ for advanced recombinant protein design. For more information, visit www.ibioinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005165/en/

Contacts
Isaac Bright, MD
RubrYc Therapeutics, Inc.
Co-Founder & CEO
650.832.6473
info@rubryc.com




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