Hi everyone,

I’m Jaione Maiz, Ph.D, MBA, a Principal at Anzu focusing on investing at the intersections of life science and innovative technology. I’m happy to share some recent updates about our portfolio company, NTx, a life sciences company that is redefining biomanufacturing and changing the way biologic medicines are produced.

In March, we welcomed Jamie Coffin, Ph.D., as CEO. He brings more than 20 years’ leadership experience in health care and life sciences. NTx co-founder Alex Koglin, Ph.D. was named President and Chief Science Officer, in addition serving on the Board of Directors. NTx also appointed Sheila Moran as Chief Commercial Officer, Phillip Easton, Ph.D. as Vice President of IT Infrastructure and Operations, and Lily Pisani as Senior Director of Customer Excellence. The team in Rio Rancho, New Mexico, has expanded to thirty-six personnel. The leadership team continues to drive R&D, manufacturing, commercialization, and partnership efforts of its game-changing biomanufacturing platform.

NTx’s proprietary platform is helping pharmaceutical companies accelerate the production of biologics and vaccines (think RNA, protein therapeutics, insulin and the flu and COVID-19 vaccines). Anzu developed conviction in NTx because we believe that the technology is more efficient than currently used industry methods, resulting in higher quality yields and less waste, at a lower cost.

Today, most biologic medicines are made using a traditional “batch” production process, which, like cooking a complicated dinner recipe, requires many different (and expensive) pieces of equipment, space, and talent. The work that goes into the cell culture process – including upstream, to program the biological cells (to increase the amount of desired product compared to byproducts), and downstream (to purify the product away from the cellular biomass and byproducts) – is burdensome.

NTx simplifies this process by offering a continuous flow, table-top solution that eliminates the need for cellular engineering or cell maintenance. This novel approach minimizes the handling of materials in the batch process and the exposure to potential contamination. The result is a faster and more efficient solution capable of producing high-quality RNA (and eventually proteins) at both micro (e.g. personalized mRNA cancer vaccines) or macro (e.g. pandemic preparedness and response) manufacturing scales.

The enabling technology at the heart of NTx’s RNA production solution, called NTxScribe™, is a hollow-fiber bioreactor. This hollow tube allows for the efficient interaction between the underlying DNA template, from which RNA is made, and the specialized enzymes and nucleotides, the building blocks of DNA and RNA. This interaction enables the translation of the DNA blueprint into the functional RNA, including mRNA and next-generation forms of RNA like self-amplifying RNA (aka saRNA or samRNA). NTx is also using similar underlying inventions to advance this technology to enable the production of proteins from that RNA.

NTx is currently working with top pharma, biotech, vaccine, and government partners, including DARPA and BARDA, to help provide the essential materials (the actual mRNA, saRNA and critical ingredients) that are sometimes challenging to produce. NTx is also engaging with partners interested in its next-generation protein-production technology.

Simply put, NTx’s technology platforms are changing the way medicines are manufactured. We believe that the company has a dynamic, flexible technology that can quickly scale from personalized medicines volumes of RNA to global pandemic response quantities using the same table-top system and single operator.

NTx’s vision is to democratize the production of RNA and proteins – and its mission is to revolutionize biomanufacturing to expand access to life saving RNA and protein therapies.

If you have any questions, and or know of any partners that could be interested, please don’t hesitate to reach out.

Sincerely, 

Dr. Jaione Maiz, Principal

PORTFOLIO COMPANY UPDATES

NUBURU Delivered the World’s First Blue 3D Printer Light Engine to its Technical Partner Under Contract with the U.S. Air Force, Delivered its First Units Under Partnership with Essentium, and Signed a Joint Development Agreement with GE Additive

NUBURU, a leading innovator in high-power and high-brightness industrial blue laser technology, announced that in Q1 2023, it delivered the world’s first blue laser powered area 3D printer light engine to its technical partner under a contract with the U.S. Air Force.

The goal of this contract is to use the absorption advantages of the blue laser and combine it with the ability to project an image onto the powder bed using a Texas Instruments Digital Light Projector to dramatically increase the speed of 3D printing of metal parts. NUBURU delivered the light engine to its partner to integrate it into a 3D printer. The speed increase is the result of using an image that is up to 30,000 times larger than the single spot used today while delivering the same resolution as today’s printers. This 3D printing architecture can be scaled to enable high density materials to be printed at speeds of 100x or greater while dramatically reducing CO2 emissions.

This news was covered by Semiconductor Today, Compound Semiconductor, 3Printr, and Optics.org.

NUBURU also announced that multiple units were delivered to Essentium, a worldwide leader in industrial additive manufacturing (AM). In May 2022, Essentium and NUBURU jointly announced a multi-year, multi-million-dollar agreement to develop and manufacture a blue laser-based metal AM platform. These deliveries signify the initial execution of this agreement.

Essentium has also begun integrating NUBURU’s proprietary blue laser technology with its High-Speed Extrusion (HSETM) 3D Printing technology. The new AM platform is designed to deliver breakthrough throughput for extremely high part quality and broad-scale use in major industrial markets, including automotive, aerospace, and defense. Essentium expects strong growth across new applications and markets as a result of this technology integration.

This news was covered by Compound Semiconductor, Optics.org, Laser Systems Europe, and 3Printr. 

Additionally, NUBURU announced that it has signed a joint technology agreement with GE Additive, to explore the speed, accuracy, and commercial benefits of blue laser-based metal 3D printing. NUBURU’s novel approach to additive manufacturing is built on the foundation of blue light absorption by metals, a fundamental physical advantage that offers the highest efficiency laser-based melting for a wide range of industrially important metals. Combining the blue laser module with an innovative optical conditioning system, the NUBURU light engine is at the heart of the expected performance improvements. GE Additive will provide a powder bed system and expertise in the integration and characterization of this next generation prototype light engine, to quantify the performance improvements over existing technology.

This news was covered by Semiconductor Today, Quality Magazine, 3DPrint.com, and Compound Semiconductor.

GelSight Appointed Former Hexagon Manufacturing Intelligence Executive Angus Taylor to its Board of Directors

GelSight, a pioneer in tactile intelligence technology, announced that it has appointed Angus Taylor to its Board of Directors. Angus’ experience establishing Hexagon as a global leader in advanced manufacturing will guide GelSight in advancing its tactile intelligence platform and continuing to expand into new markets.

Angus Taylor is an experienced executive with over 25 years in senior leadership roles, primarily in advanced manufacturing software and technologies. As President and CEO of Hexagon Manufacturing Intelligence, Inc., Angus led the strategy, technology development, operational excellence, and the development of human capital that resulted in sustained growth and profitability for the organization during his tenure. Angus also has extensive experience driving product development and launch, improving business processes, and enhancing the customer experience. His impressive track record includes building strategic partnerships, creating customer-focused initiatives that drive change, and leading development backed by data and business analytics.

This appointment was covered by Metrology News and Photonics.com.

 Zeteo Tech Awarded Grant from the National Institute of Allergy and Infectious Diseases 

Zeteo Tech, the biodefense and medical device company that has developed a revolutionary new class of fieldable biological mass spectrometers and innovative human breath detection technologies, was awarded a National Institute Of Allergy And Infectious Diseases (NIAID) Direct to Phase II Small Business Innovation Research (SBIR) grant for $967,498, for the first year of a two year effort, totaling $1.9M, on “Noninvasive Diagnostic Markers of Lower Respiratory Tract Infection in Mechanically Ventilated Patients”. Dr. Dapeng Chen of Zeteo Tech, Inc. is the Principal Investigator for this grant.

The potential for human breath to serve as a non-invasive diagnostic tool has garnered significant attention from healthcare professionals and industry experts alike. Lower respiratory tract infections (LRTIs) are a common concern for ICU patients, particularly those with mechanical ventilators. Zeteo Tech, in collaboration with the Johns Hopkins Hospital, will investigate whether truncated proteoforms in human exhaled air can serve as a non-invasive diagnostic marker for LRTIs, and early prediction of LRTI in mechanically ventilated patients. If successful, this breakthrough research will provide clinicians with a valuable tool for decision-making regarding antibiotic treatment, resulting in improved patient outcomes and reduced exposure to harmful antibiotic treatments.

6K Announced a Partnership with Aqua Metals to Develop Next Generation of Sustainable Materials for Lithium Batteries

6K Energy, a leader in the production of sustainable materials for lithium-ion batteries, and Aqua Metals, a pioneer in sustainable lithium-ion battery recycling, announced a partnership to develop the next generation of low-carbon battery materials and plans to establish a long-term agreement for 6K Energy’s PlusCAM™ cathode material manufacturing plant. Both Aqua Metals and 6K Energy share the vision of creating a domestic low-carbon supply chain for critical battery materials and advancing cost-effective production methods for sustainable lithium-ion batteries.

The partnership was initiated with a non-recurring engineering (NRE) agreement to further develop low-carbon technology for the conversion of critical metals, first virgin and later recycled material, into battery-grade cathode active material (CAM) precursors, which are essential to 6K Energy’s advanced cathode manufacturing. Aqua Metals is leading the development of the innovative conversion process, designed to replace chemical catalysts with clean electricity, and enables the sustainable production of cost-effective CAM precursors by eliminating embedded emissions, recurring expenses, and chemical waste byproducts.

 Liquid Instruments Released Moku Version 3.0 Software Update to Deliver Multi-instrument and Customization Capabilities Across Test Portfolio

Liquid Instruments, a leading innovator in software-defined instrumentation, announced the release of Moku Version 3.0 for its flexible, FPGA-based Moku:Pro, Moku:Lab, and Moku:Go products.

The latest software upgrade improves consistency in user experience and code portability across devices, as well as enhanced development efficiency to speed up future feature releases. The release also brings significant upgrades to Moku:Lab, the company’s original product, underscoring Liquid Instruments’ commitment to developing software-defined test and measurement solutions that get better with new features over time.

For Moku:Pro and Moku:Go, Moku Version 3.0 makes the Phasemeter available on the desktop app for users working on Windows or macOS computers. Enhancements to Multi-Instrument Mode include improved inter-instrument data resolution when using the PID Controller and Frequency Response Analyzer, and for Moku:Pro, the PID Controller can be added to an output channel for the Lock-in Amplifier, opening new use cases for closed-loop control systems, precision spectroscopy, and more.

This update was covered by Signal Integrity Journal and RCR Wireless.

Liquid Instruments also partnered with TestEquity, one of the world’s largest electronics test and measurement distributor, to offer its revolutionary Moku solutions, a software-defined instrumentation platform for developing, testing, and controlling new technology and designs. Partnering with TestEquity will allow engineers and researchers to test and collaborate quickly and seamlessly with Moku devices.

 South 8 Technologies and NanoGraf were Awarded $550,000 to Increase Battery Safety for Soldiers by the U.S. Army

South 8 Technologies, developers of a novel liquefied gas electrolyte (LiGas®) for the next generation of safe and high-performance lithium-ion batteries, and NanoGraf, an advanced battery materials company and enabler of the world’s most energy-dense lithium-ion 18650 cell, announced a joint $550,000 award from the U.S. Army Combat Capabilities Development Command (DEVCOM) to pair NanoGraf’s 3.8 Ah 18650 cell with South 8’s electrolyte for cold temperature and safety testing.

Soldiers carry upwards of 25 pounds of batteries during missions, and sometimes need to have backups as some batteries perform poorly in harsh weather conditions or after being physically damaged. The DoD award will fund a six-month project to make sure batteries with NanoGraf and South 8’s technology reduce or eliminate catastrophic failure when exposed to extreme temperatures or nail penetration, in accordance with MIL-PRF-32383 4.7.4.4 (Military Performance Specification). Successful completion of the testing will validate the extreme cold temperature performance of the cell and maintain existing capacity and cycle life, allowing the cell to operate down to -60 degrees, and up to +60 celsius and pass the safety test. NanoGraf’s M38 18650 cell can currently operate down to -30 celsius.

This news was covered by San Diego Metro, CleanTech San Diego and ChicagoInno.

 Xendee Hired Joshua Goldman as Vice President of Mobility

Xendee, a leading Distributed Energy Resources, and Electric Vehicle fast-charging infrastructure design and operation software provider, announced that Joshua Goldman has joined the team as VP of Mobility.

With over 25 years of experience in electric and hybrid heavy-duty vehicles, Joshua Goldman brings a wealth of technical and business development expertise to the Xendee team. As one of the leading electric vehicle technology experts in the transit and medium/heavy-duty vehicle industry, Goldman’s engineering background and extensive experience in OEM and end-user deployments provide a unique blend of skills that will be instrumental in driving Xendee’s mission to enable cost-effective and reliable EV infrastructure.

Excision BioTherapeutics Appointed Former Pfizer Chairman and CEO Jeffrey B. Kindler to its Board of Directors

Excision BioTherapeutics, a clinical-stage biotechnology company developing CRISPR-based therapies designed to cure viral infectious diseases, announced the appointment of Jeffrey B. Kindler, former Chairman and Chief Executive Officer (CEO) of Pfizer and current CEO of Centrexion Therapeutics, to its Board of Directors. The appointment expands his role on Excision’s Business Advisory Board.

Kindler is a healthcare executive, investor and advisor who has held leadership positions at companies including Pfizer, McDonald’s, and General Electric. With more than three decades of experience across multiple industries, Kindler is a leading expert in pharmaceuticals and other health care sectors, executive management, and corporate legal matters including regulation and compliance. He is also a Senior Advisor for Blackstone, one of the world’s leading investment firms, a Venture Partner at Artis Ventures and a principal in, and advisor to, a number of privately held health care firms and sponsors.

Arduino Announced US Expansion to Serve Growing Demand for Enterprise Solutions

Arduino, the open-source hardware pioneer with 32 million active developers worldwide, announced new offices and leadership in the United States to support the company’s largest region of business.

Arduino has been wildly popular in the U.S. for more than 15 years, and today, more than half of the company’s total solutions are delivered to American customers. As a testament to Arduino's enduring success, its avid user base, now occupying high-level engineering and development positions, is increasingly turning to Arduino for enterprise-grade solutions.

The move to build out the U.S. operations and team marks the latest step in Arduino’s expansion into the enterprise world. Last year, the company closed a $32 million Series B funding round led by the global deep tech investor Robert Bosch Venture Capital. Renesas, Anzu Partners and Arm also joined the round to help Arduino continue its mission to eliminate the barriers of moving from prototyping to production and remove the vendor lock-in issues hindering digital transformation in industrial applications with its Arduino PRO ecosystem.

 XGS Energy Presented at the 2023 Geothermal Transition Summit (GTS) North America  

XGS Energy, a leader in geothermal energy technology, had several of its executives present at the 2023 Geothermal Transition Summit (GTS) North America in Houston, Texas.

During the summit, XGS executives participated in two sessions, including a company presentation on how XGS’ approach efficiently delivers affordable and dependable geothermal energy by targeting hot rock using a novel closed-loop well architecture. XGS COO Ghazal Izadi also participated in a panel discussion on oil and gas that covered how the experts are developing geothermal portfolios, helping to establish geothermal as a viable and scalable part of the global baseload energy mix.

ADDITIONAL PC MEDIA COVERAGE

• Niron Magnetics was profiled by Forbes, including insights from Niron’s CEO Johnathan Rowntree, EVP of Strategy Andy Blackburn, and Founder Jian-Ping Wang, as well as Anzu Managing Partner David Michael. 
• GelSight was highlighted in a blog post from Hexagon Manufacturing Intelligence following GelSight’s win at the Sixth Sense open innovation platform. 
• AM Batteries was featured in an article from Charged Electric Vehicles Magazine on its partnership with Amperex Technology Limited. AM Batteries’ CEO and Co-founder Yan Wang was also spotlighted in recent pieces from Worcester Polytechnic Institute and Batteries News. 
• Liquid Instruments CEO Daniel Shaddock was interviewed by Doug Brown for the CEO Sales Strategy podcast on successfully bringing a product to market as a startup. 
• Aspinity CEO Tom Doyle spoke with Tech Briefs about its analog machine learning chip, the AML100, and always-on intelligent sensing at microwatt levels. He was also interviewed on EE Journal’s Fish Fry Podcast about why our digital futures depend on analog. 
• Xendee CEO Adib Naslé wrote an article for Forbes Technology Council on Creating a Sustainable EV Fast-Charging Future. Xendee was also mentioned by Fiji Times and FBC News in articles about the recent grant awarded to the Fiji Ministry of Finance by the U.S. Trade and Development Agency to increase access to reliable and affordable electricity in isolated areas.  
• e-Zinc was recognized by Corporate Knights as one of Canada’s 50 fastest-growing green companies of 2023 for the second year in a row. 

ANZU UPDATES

Welcome to Anzu!

Danielle Belopotosky, VP, Editorial

Danielle joins Anzu’s Marketing and Communications team as VP of Editorial, where she will focus on elevating the profiles of Anzu and our portfolio companies. Prior to Anzu, Danielle worked at strategic communications firms in New York, managing teams and developing programs to support early-stage companies and investors with fundraise announcements, narrative development and strategic positioning; executive transitions for public and pre-IPO companies; reputation management for private and corporate clients; and capital markets transactions for global brands. Danielle spent the first part of her career as a journalist, including more than a decade as an editor at The New York Times, as a senior writer covering tech policy on Capitol Hill for The National Journal, and as a reporting assistant at the Wall Street Journal. She is based in Washington, D.C.

Brian Van Dinter, Payroll and Tax Analyst

Brian joins the Anzu payroll team with 14 years of experience in payroll and payroll tax. Brian began his payroll career with Paychex and from there, he has gone on to work for companies in various markets including manufacturing/warehousing, medical, technology, and government defense contracting. He also has experience with international payroll. Brian is based in Boston.

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Anzu Partners is an investment firm that focuses on industrial and life science technology companies with the potential to transform their industries. Anzu works with entrepreneurs to develop and commercialize technological innovations by providing capital alongside deep expertise in business development, market positioning, intellectual property, global connectivity, and operations. For more information, please visit: https://anzupartners. com/