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UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN

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    EnterpriseWorks Startup SimBioSys Raises $15 Million Series A to Develop the Future of Precision Cancer Care

    SimBioSys announced today it raised $15 million in Series A funding to accelerate the development and commercialization of its TumorScope software platform. The company’s novel, simulation-based, precision medicine platform enables individualized treatment planning for cancer patients. This Series A was co-led by Genoa Ventures and Northpond Ventures, with participation from AV8 Ventures, Heritage Medical Group, and Mayo Clinic. Existing investors and founders also participated in this financing round, bringing the company’s total capital raised to $21 million. Founded in 2018 at the University of Illinois Urbana-Champaign, SimBioSys is based at the EnterpriseWorks incubator in the University of Illinois Research Park. In the first half of 2021, SimBioSys tripled its headcount, bringing in expert clinicians, scientists, and executives from the life sciences industry. SimBioSys is also working in collaboration with 20 leading cancer institutions across the country to run clinical validation studies and recently published results from independent validation performed by prestigious cancer centers, demonstrating over 90 percent accuracy in predicting response to therapy in its first indication of early breast cancer. “We are honored to have the support of such prestigious and thoughtful investors, validating the novelty and promise of our science and its potential to improve outcomes for millions of patients in the future,” said Tushar Pandey, CEO of SimBioSys. Despite the crowded landscape of precision medicine, treatment decisions continue to be made based on trial and error, and the resulting uncertainty among clinicians leads to sub-optimal outcomes for patients. SimBioSys aims to individualize care and eliminate uncertainty by assessing response to therapy at the time of treatment planning. “The rate of innovation in oncology is truly inspiring, but it doesn’t always translate to benefit for most patients”, said Tushar. “SimBioSys firmly believes we can do more with what is currently available while accounting for the rapidly evolving standard of care to ensure all patients have access to precision medicine.” SimBioSys’ early validation data and approach with standard-of-care data alone provides a glimpse into the future of oncology and drug development. With this new funding, the company now has the resources to move one step closer to delivering on its mission. “Since meeting Tushar and the SimBioSys team, Genoa Ventures has been excited about the enormous potential for the TumorScope platform to democratize insights for precision medicine in cancer care,” said Vikram Chaudhery, Principal at Genoa Ventures. “For the first time, any hospital, clinic or cancer center can make truly informed decisions in choosing the best treatment protocols for patients, based on the standard pre-existing patient data available, eliminating the need for additional, expensive wet-lab testing.” Unlike current approaches, SimBioSys’ first-of-its-kind application combines artificial intelligence with biophysical simulations to model the impact of phenomena such as drug delivery, metabolism, and spatial heterogeneity in a comprehensive model using standard-of-care data alone. The results are generated within minutes, enabling physicians to make a well-informeddecision while improving patient experience and shared decision-making. In addition, the technology can support the drug development process across pre-clinical and clinical trial settings. “Robust clinical and patient-reported data is critical to assess and prescribe the best options of cancer care for patients,” said Andrea Jackson, Director at Northpond Ventures. “The SimBioSys TumorScope virtualizes cancer to simulate – in minutes – a patient’s tumor response to therapies. Simulating response before prescribing treatment is a significant stride in personalized treatment planning. Northpond is grateful to partner with Tushar and theSimBioSys team on this important work.” The company’s name, SimBioSys, and logo capture its core scientific approach – Simulating Biological Systems. SimBioSys’ TumorScope virtualizes cancer in 3D and can accurately simulate how a patient’s tumor will respond to a variety of therapies following diagnosis. The new funding will allow SimBioSys to expand its state-of-the-art technology into other solid tumors beyond its current focus on breast cancer. Additionally, the new capital will drive commercialization efforts to bring the technology to patients and the biopharma industry. Andrea Jackson at Northpond Ventures and Vikram Chaudhery at Genoa Ventures will join the SimBioSys Board of Directors. About SimBioSysSimBioSys combines artificial intelligence and biophysical simulations to advance precision medicine in cancer care. The company’s technology virtualizes individual tumors and through biophysical simulations delivers insights on specific traits, such as tumor morphology, drug delivery and metabolism, while simultaneously predicting response to therapy. SimBioSys’ goal is to transform decision making in cancer care by empowering physicians with a better understanding of each patient’s disease. By virtually assessing each patient’s response to treatment, physicians can truly personalize therapy. For more information, visit www.simbiosys.com

    EnterpriseWorks Startup SimBioSys Raises $15 Million Series A to Develop the Future of Precision Cancer Care Read Post »

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    EnterpriseWorks Graduate SNOOZ Launches New Product on Kickstarter

    EnterpriseWorks startup SNOOZ recently launched a Kickstarter page new product Breez: White Noise Sleep Fan. Breez is a powerful two-in-one bedroom fan and a white noise machine, created following the success of SNOOZ’s White Noise Machine. Breez has two fans, the primary fan that directs air around the acoustic hub to cool you off, and the sound impeller fan that can be adjusted to provide the perfect amount of fan sound for your bedroom. To see a full breakdown of the SNOOZ sleep conditioner’s features, check out the Kickstarter page here. SNOOZ is a consumer electronics company that creates products for home and hospitality use. Its primary focus is in optimizing the interaction between air movement and sound generation, and building devices that produce sound masking for sleep or privacy, and are energy efficient. SNOOZ was founded by Eli Lazar and Matthew Snyder in 2015. Lazar is a mechanical engineering alumnus from the University of Illinois Urbana-Champaign. The company graduated from the EnterpriseWorks startup incubator in 2019. More information about SNOOZ on its website.

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    EnterpriseWorks Receives 5-Year Continuation of EDA University Center Grant

    EnterpriseWorks Receives EDA Grant To Continue Supporting Entrepreneurship at Illinois Universities The grant from the EDA will continue to support development of higher education entrepreneurial ecosystems across Illinois CHAMPAIGN, IL, September 30, 2021 — The EnterpriseWorks incubator at the University of Illinois Urbana- Champaign, has been awarded a five-year grant of $70,000 per year from the United States Economic Development Administration (EDA) to advance incubators and entrepreneurial ecosystems associated with higher education across Illinois. The new award will enable EnterpriseWorks to continue providing assistance to other higher education incubators and entrepreneurial spaces located across Illinois. The grant will fund leadership and management for the Illinois University Incubator Network (IUIN), which was seeded by the EDA Economic Adjustment Assistance Program (2016-2021). The IUIN provides a robust array of events and services that aim to strengthen university-related entrepreneurship activities and resources by sharing resources, best practices, and programming among members of the statewide incubator ecosystem. Specific examples of resource sharing include relevant trainings, disseminating documents and information about leases, applications, program structures; benchmarking data; and fostering collaboration on grant funding opportunities. “The University of Illinois EDA University Center specializes in providing support for incubation, entrepreneurship, and technology-based economic development projects in Illinois with a primary focus on serving downstate communities,” said Laura Frerichs, director of the University of Illinois Research Park and director of economic development at the University of Illinois.  “The Center facilitates support and programming for existing incubators with an eye towards expanding entrepreneurship capacity, programming, services, and resources for technology-driven businesses. EnterpriseWorks is looking forward to working with supporting and advancing entrepreneurship across the state of Illinois.” The new five-year grant adds technical assistance and support for Economic Development Districts (EDDs) and community economic development groups in rural and underrepresented communities in Illinois. This will include the development of a referral network to aid with resources available through UI Extension, SBDCs, SBA FAST Center, regional economic development organizations, and other University resources. One of its goals is to and develop “roadmaps” as examples of successful programs developed by other Illinois communities that are aiding in economic gardening, which leverage existing assets in communities, build unique attractions, and small business support.

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    EnterpriseWorks Graduate APriori Raises $30 Million Series D Investment

    EnterpriseWorks graduate aPriori announced that the company has recently completed a Series D investment round of $30 million, co-led by Bruce Clarke of PBJ Capital and Gaurav Tewari of Omega Venture Partners. This investment brings the valuation for the company to $280 million. aPriori is the leading provider of digital manufacturing software that brings product design, sourcing teams, and supplier teams closer together to close the gap between design and production. By leveraging the digital twin with digital factories, aPriori automatically generates design for manufacturability (DFM) and design for cost (DTC) insights, helping manufacturers collaborate across the product development process to make better design, sourcing, and manufacturing decisions that yield higher value products in less time.  Read more on the Business Wire website.

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    EnterpriseWorks Graduate IntelinAir Raises $20 Million in Series B Funding

    EnterpriseWorks graduate IntelinAir, a startup that collects data-driven insights on crop performance, has announced $20 million in Series B funding. The company graduated from EnterpriseWorks in 2019 and maintains an office in Champaign in addition to Indiana, California, and Canada. The IntelinAir team developed technology that surveys land and alerts farmers of various operational issues that affect crop yield. “IntelinAir’s AGMRI crop health and intelligence platform leverages modern artificial intelligence technology to monitor and proactively alert to issues before they become yield-stealing and loss-generating problems for our farmers,” said IntelinAir’s CEO and Co-Founder Al Eisaian. Naira Hovakimyan, the co-founder and chief scientist of IntelinAir, is a professor of Mechanical Science and Engineering at the University of Illinois. IntelinAir plans to use the funding to expand commercial operations, invest in their flagship crop intelligence product, and deepen their partnerships with other agriculture companies. IntelinAir has experienced continual success from being ranked in the Inc 5000 in 2020 to being named one of seven ag-tech startups to watch by Agriculture.com in 2018.

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    Using Technology to Improve the Lives of First Responders: Innovations @ Research Park Podcast with Ascent Integrated Tech CEO

    Episode 7 of the Innovations @ Research Park podcast features Paul Couston, CEO of Ascent Integrated Tech. The EnterpriseWorks-based startup is using and building technology to improve the safety conditions of those who work in various hazardous environments, such as firefighters, industrial operators, and SWAT members.  In this interview Couston, a well-known figure in the student start-up community and entrepreneurial scenes at UIUC, gives us a glimpse of his own journey as a young entrepreneur while being an undergraduate at the University of Illinois, talks us through the innovations going on at Ascent Integrated Tech, and offers fellow young entrepreneurs, especially college students, valuable advice about what it takes to live the entrepreneurial, start-up life.  Couston offers “useful information for entrepreneurs on strategy and practical advice”, and lets us in on why college is the perfect time to jump in and start a company. You can catch this episode of Innovations @ Research Park on iTunes Podcasts, Spotify, or anywhere else you may prefer to listen to your podcasts.  Do you have questions about Research Park? Have an idea for a guest for the show, or a story we should pursue? Do you want to provide other feedback? Contact Laura Bleill (lwbleill@illinois.edu)

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    FrostDefense Envirotech Receives $1 Million Phase II NSF SBIR Award

    FrostDefense Envirotech Inc., an agtech startup based at the EnterpriseWorks technology incubator in Research Park, has been awarded a highly competitive SBIR (Small Business Innovation Research) Phase II grant by the National Science Foundation. The $1 million, two-year award will expand the company’s capacity to further develop its propriety technology to protect grapes from early spring frost damage. The two-year funding will help the company accelerate production and bring its specialty product to the market. The company is led by Dr. Manfredo Seufferheld, president, and vice president Dr. Gabriel Burks (pictured below). FrostDefense Envirotech Inc. develops sprayable polymer products that delay grape bud break and a complementary predictive analytics package that predicts both frost events and grape phenology. FrostDefense received its original Phase I SBIR Award from NSF in 2020, for $225,000. To learn more about its team, the project, and the company visit the FrostDefense Envirotech website at www.frostdefense.com.

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    EnterpriseWorks Startups PSYONIC, EarthSense, Natrion Win IIN Innovation Awards

    Three EnterpriseWorks startups received awards at the inaugural Illinois Innovation Network (IIN) innovation awards Wednesday at the Illinois State Fair’s Tech Prairie STEAM Expo. PSYONIC, EarthSense, and Natrion were honored as among the best innovators in the state. The awards were presented to faculty, staff or scientists from IIN hubs in three of the IIN’s key subject areas: environment and water, food and agriculture, and health and wellness. IIN also presented an award to the most impactful innovation by a team, as well as two awards to student innovators from IIN member universities. “We are thrilled to celebrate these innovators and their discoveries,” said Jay Walsh, interim vice president for economic development and innovation for the University of Illinois System, which coordinates the network of IIN education and innovation hubs. “They are all examples of the incredible research, discovery and education going on at our state’s universities, and we are incredibly grateful for the impactful work that each one of them is doing.” Innovators were honored for developments in the diagnosis and treatment of diseases of the eye; robots that measure critical plant traits; converting biomass, coal and other substances into high-value chemicals and liquid fuels; more functional, touch-sensitive prosthetics; COVID-19 testing; next-generation battery technology; and transforming a dilapidated research facility into Southern Illinois University Carbondale’s (SIUC) Green Roof Project, a home for experiential and experimental learning for all students. “These innovators are an example of one of the things I love most about our state: We have brilliant people coming up with solutions to some of the world’s most difficult challenges,” said Bruce Sommer, director of economic development and innovation at the University of Illinois Springfield, whose office facilitated the awards program. “I am encouraged by the diversity of our recipients and the incredible work that they are doing.” IIN Innovation Award recipients: EnterpriseWorks startups Food & Agriculture CategoryGirish Chowdhary is director of the Distributed Autonomous Systems Laboratory and Donald Biggar Willet Faculty Fellow at the University of Illinois at Urbana-Champaign (UIUC), and co-founder and chief technology officer of EarthSense. EarthSense enables the creation of highly productive, resilient and sustainable crops, and fundamental improvements in farm profitability. Its first product, the TerraSentia robot field phenotyping system, provides 100 times as much trait data for a tenth the effort, compared to current methods of field data collection. The compact, easy-to-use, under-canopy robot measures critical plant traits such as stem width, leaf area index and leaf and stem diseases with unprecedented accuracy and ease. EarthSense’s machine vision and machine learning-based analytics seamlessly convert terabytes of multi-sensor field data to quantitative, consistent and objective information to reduce these risks. The TerraSentia robot uses a number of sensors to collect data on crop health, as well as machine learning-based analytics to convert this data into actionable insights for farmers. In response to the COVID-19 pandemic, EarthSense is working to adapt its autonomous robots for cleaning in hospitals and public spaces. By reducing the need for sanitary workers, EarthSense’s robotic cleaning units can help lower the community transmission rates of COVID-19 and other infectious diseases. Health & Wellness CategoryAadeel Akhtar is founder of PSYONIC, which is based at the EnterpriseWorks incubator in the UIUC Research Park. Akhtar has developed algorithms that make upper-limb prosthetics much more functional to use. Some send electrical currents to stimulate the nerves so that users can “feel” what their prosthetics are touching; others record the electrical currents caused by muscle contractions, making it possible to control movement. Akhtar holds four patents on advances in prosthetics that have all gone into PSYONIC’s first product, the Ability Hand. The Ability Hand was designed to be controlled by both muscle sensors and Bluetooth, and provide tactile sensory data to its user, all while withstanding the normal stresses of everyday life without cracking. Akhtar’s 20-person team prioritized affordability throughout the design process and built a hand inexpensive enough to be covered by Medicare. Student Category Alex Kosyakov of UIUC is founder of Natrion, a battery research and development startup.  It was launched in 2018 by Kosyakov and co-founder Tom Rouffiac. Natrion, a leader in the research and development of next-generation battery technologies, has created a new high-performance, flexible and durable solid-electrolyte thin film for the production of all-solid-state batteries (ASSBs). Called the Lithium Solid Ionic Composite (LISIC), this technology has been designed as a “plug and play” component that can be rapidly implemented by lithium-ion battery manufacturers to turn their existing product lines into ASSBs that mitigate fire risk, improve lifespan, and enable the construction of longer-range electric vehicles. Natrion recently was named the grand-prize winner at UIUC’s 2021 Cozad New Venture Challenge and won first prize at the 2021 University Pitch Madness competition, which featured startups from nine Midwestern universities.

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    “Redefining Human” through Advanced Prosthetics: Innovations @ Research Park Podcast Episode with PSYONIC CEO

    Episode 6 of the Innovations @ Research Park podcast features an interview with  Aadeel Ahktar, CEO and founder of advanced prosthetics startup PSYONIC. Ahktar sheds light on his exhilarating entrepreneurial journey, from winning startup competitions to partnering with U.S. Army sergeants to being selected as a MIT Top 35 Under 35 Innovator. He also dives into ways in which he and his team overcame significant obstacles and where he thinks the prosthetics industry is headed next. The PSYONIC Ability Hand — the world’s fastest and first touch-sensitive bionic hand — will be available to users and clinicians nationwide on September 1, 2021. The Innovations @ Research Park podcast highlights the thriving entrepreneurial and corporate innovation culture in Champaign. It is hosted by University of Illinois Urbana-Champaign alumnus Tanmay Shah. To listen to the podcast, visit iTunes Podcasts, Spotify, or wherever you prefer to download your podcasts. Is there something you want to know about Research Park? Do you have an idea for a guest for the show, or a story we should pursue? Do you want to provide other feedback? Contact Laura Bleill (lwbleill@illinois.edu).

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    FrostDefense’s Gabriel Burks Advocates for More Startup Resources During Congressional Testimony

    Dr. Gabriel Burks, vice president and head of research and development of EnterpriseWorks startup FrostDefense Envirotech, recently delivered testimony in front of the United States House of Representatives Small Business Committee to advocate for more federal investment in programs that support innovation and entrepreneurship. “Our major successes as a company have come as a direct result of timely funding and support from several sources, including the university, incubator, private and federal,” Burks said. EnterpriseWorks won funding in 2019 from the Small Business Administration’s Growth Accelerator Fund Competition to support the AWARE Proof of Concept program. The SBA innovation initiative provided $50,000 grants.  FrostDefense applied and received funding from the incubator to support research and development critical to the advancement of the company’s frost prevention and mitigation technology. The award allowed the company to pivot at a critical time in its development. “At the time of the award, our company had recently completed a field trial, where we did not obtain the results that we expected.  What we did discover what we thought would be several key factors moving forward,” Burks said.“AWARE funding allowed us to quickly test our new hypotheses over a three-month time period, and develop a new version of our product that we found to be a success shortly after. “That success would go on to serve as the backbone for our petition for new funding.” FrostDefense subsequently applied for, and received, an SBIR Phase I Award from the National Science Foundation. Late spring frost causes more economic loss to agriculture than any other climate-related hazards, costing growers more than $10 billion annually, Burks said. FrostDefense’s technology minimizes the impact of frost on delicate fruit. Its first target is grapes. Burks’ testimony starts around the 42-minute mark of the session, done remotely via videoconference, and lasts for about five minutes. View the video below or see it here. 

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