Hi Anzu Partners Community,

CytoTronics spun out of Harvard with a mission to bring together semiconductors and cell biology – potentially revolutionizing how scientists see cellular reaction in real-time. Imagine a microplate where each well is a miniature surveillance system, covered by over 100,000 nanoscale sensors. These electronic sensors capture a symphony of cellular data — from the electrical whispers of neurons to the metabolic hum of cancer cells.

In a field where researchers often face a choice between detail and speed, CytoTronics’ Pixel™ system offers a tantalizing paradigm shift that has the scientific community buzzing, with early adopters already putting the system through its paces in fields ranging from cardiovascular research to oncology.

In February, CytoTronics unveiled Pixel, the company’s first commercial product based on its semiconductor-to-live-cell interface powered by microchips. The Pixel system assesses live cell function at single-cell resolution, allowing scientists to simultaneously monitor cell viability, morphology, electrophysiology, metabolism, and more while generating electrical “images” with single-cell spatial resolution.

At each system’s core is the Pixel plate, a proprietary 96- or 384-well microplate embedded with custom-designed semiconductor microchips at the base of each well. Cells grow in culture media on top of a microarray containing over 100,000 nanoscale electrode-based sensors, allowing thousands of measurements to be taken per well, on any cell type or organoid system.

CytoTronics launched the system in an early access program with its single plate reader, the Pixel Primo, which can be used to develop in-vitro cell-based assays on a single plate that can be placed in any standard cell culture incubator. In July, the company also announced its high-throughput Pixel™ Octo system, which will scale those assays up to eight times. This addition to the Pixel lineup integrates CytoTronics’ microchip-powered interface with a self-contained environmentally controlled benchtop system that regulates temperature, CO2, humidity, and oxygen to deliver live cell measurements for up to eight 96-well Pixel plates simultaneously. By pairing the system with laboratory robotic automation and the ability to run multiple systems in parallel, the Pixel Octo will offer full scalability in high-throughput cell biology applications.

Most contemporary tools in the market offer a single readout modality and compromise between spatial resolution and throughput. Pixel delivers simultaneous multi-modal, high-resolution readouts, enabling cell monitoring and data collection at unprecedented scale. Pixel empowers cell biologists to re-imagine their experiments and unlock new applications that have not previously been possible. The systems are designed for accessibility in academia, biotech, and pharma, and early adopters around the world will be utilizing Pixel in therapeutic areas including vascular, inflammatory, cardiovascular, and neurological disease, rare disease, and oncology. Pixel also received the 2024 New Product Award by the Society for Laboratory Automation and Screening in February, a R&D 100 award from Research & Development World in August, and won a New Product Award at the 2024 Merck Technology Symposium last month. 

Recently, CytoTronics announced $13.5 million in seed extension financing. The seed extension funding was led by new investor LYFE Capital, and Anzu Partners is proud to have also co-led the round. New investors including Legend Star, RIT Venture Fund (Rochester Institute of Technology), and Draper Associates also joined the round, with continued support from BoxOne Ventures and other minority financial supporters. The additional capital enables CytoTronics to build off of its early access program and accelerate Pixel’s market entry.

After an impressive year thus far, CytoTronics’ momentum promises an exciting future for the company and the potential impact of the Pixel system. As a member of the company’s Board of Directors, I look forward to working alongside the team to continue this trajectory and help revolutionize discovery in cell biology with its semiconductor-based approach.

Sincerely,

Jenna Abelli, Principal at Anzu Partners

PORTFOLIO COMPANY UPDATES

6K Closed $82M in Series E Funding, Appointed New CEO, and Welcomed New Board Members

6K, a leader in the sustainable production of engineered materials for lithium-ion batteries and additive manufacturing, announced that it closed $82M as part of its Series E funding round. The capital raised was an insider-led investment with investors Anzu Partners, Energy Impact Partners, LaunchCapital, Material Impact, and Volta Energy Technologies participating to enable the company to scale up production for battery cathode active materials (CAM) and the expansion for additive manufacturing metal powders. The $82M represents the first close of Series E with the second close expected in the late fall.

In addition, Dr. Aaron Bent has transitioned out of the position of CEO, handing the reins over to 6K COO Dr. Saurabh Ullal who has now assumed the role of CEO. 6K also welcomed new board members Beda Bolzenius and Dr. Jeff Chamberlain, who both bring a wealth of real-world expertise to 6K as the company continues the expansion of its production capabilities.

This news was covered by PitchBook, Boston Business Journal, 3DPrint.com, and more.

Niron Magnetics Opened the World’s First Manufacturing Facility for Powerful Rare-Earth-Free Permanent Magnets

Niron Magnetics, the world’s only producer of powerful rare-earth-free permanent magnets, hosted the grand opening of its commercial pilot plant in Minneapolis. This facility is the first-of-its-kind and produces a sustainable alternative to rare earth permanent magnets that are critical inputs to a wide variety of technologies and industries including electric vehicles, wind energy, and consumer electronics.

The opening of the 70,000 square-foot Minneapolis facility is a key milestone on Niron’s path to scaled production of its Clean Earth Magnet® technology and the company’s ability to bridge the acute supply and demand gap for permanent magnets that is projected before the end of the decade. The opening of Niron’s commercial pilot plant created over 60 new jobs in the Minneapolis area, including roles in engineering, manufacturing, and research and development. The commercial pilot facility has production capacity of greater than 5 tons of Clean Earth Magnets® per year and defined manufacturing processes for Niron’s full-scale manufacturing facility.

Speakers at the event included Minneapolis Mayor Jacob Frey, Representative Pete Stauber, Representative Betty McCollum, Senator Amy Klobuchar, GM Ventures Principal Daniel Bouie, and Deputy Director of Technology at ARPA-E Dr. Daniel Cunningham.

This news was covered by the Minneapolis Business Journal, MPR News, Mining Technology, Data Center Dynamics, and more.

Nirrin Technologies Received $2M Small Business Innovation Research Grant from the National Institutes of Health

Nirrin Technologies, a developer of analytical tools poised to transform bioprocess analysis, was awarded a $2 million Small Business Innovation Research (SBIR) Direct Phase II Grant from the National Institutes of Health (NIH). This grant will fund further development of Nirrin’s proprietary high-precision tunable laser spectroscopy™ (HPTLS) platform for biomanufacturing applications, Atlas™.

Through its Small Business Programs, the NIH provides research and development funding to support technological innovation in early-stage small businesses throughout the nation. Nirrin will apply the SBIR funds to ramp up development on upstream bioprocessing applications for bioreactor automation and control (CPP) on Atlas. Nirrin will also expand its HPTLS-based product line to include real-time monitoring and control in-line/in-situ for cell and gene therapy and other key application areas.

This news was covered in Optics & Photonics News, Optics.org, and Medical Marketing & Media.

NTx Launched NTx Services to Supercharge Next-Generation mRNA Research

Nature’s Toolbox (NTx), a life sciences company developing next-generation platforms for RNA and protein manufacturing, launched NTx Services to offer high-integrity complex mRNA production using the innovative NTxscribe® RNA manufacturing system. NTx Services offers faster turnaround, more flexibility, and scalability than traditional mRNA production processes by leveraging the NTxscribe continuous flow in vitro transcription (IVT) system.

NTx Services is offering access to the research grade mRNA manufacturing capabilities of the NTxscribe system ahead of the commercial launch of its next generation device early next year. NTxscribe can produce 50mg of high-integrity mRNA in just one hour with the push of a button, allowing NTx Services to deliver mRNA constructs faster than standard service providers. NTx Services is flexible and scalable, capable of producing milligram to gram quantities of consistently high-integrity mRNA or saRNA from 2,000kb to 14,000nt+. Additionally, NTx Services offers lower price points for consistently high-integrity mRNA or saRNA constructs compared to current batch method chemistry approaches from other service providers.

This news was covered by Albuquerque Business First and The Clinical Trial Vanguard.

Adaptive Surface Technologies Released New Performance Data for Non-Toxic Marine Anti-Fouling Product

Adaptive Surface Technologies (AST), a leader in repellent surfaces, announced new long-term performance data for its SLIPS Dolphin™ II marine anti-fouling coating and N4 additive product. Dolphin II and N4 have been subjected to 53 months of exposure testing, led by an international third-party, and both outperformed the leading commercial foul-release coatings on the market.

When submerged in water, Dolphin II creates an ultra-smooth, slippery surface that prevents organisms from attaching. The product lasts multiple seasons, and unlike most existing products on the market today, Dolphin II and N4 do not contain any biocides and are environmentally friendly. Dolphin and N4 are designed to meet the requirements of the recently passed legislation in the U.S. House that supports a transition to copper-free anti-fouling marine coatings by 2028.

GelSight Partnered with Flexxbotics on a Joint Solution for Robot-Enabled Nondestructive Testing and Appointed New Board Member

GelSight, a pioneer in tactile intelligence technology, today announced a new partnership with Flexxbotics, a company delivering digital solutions for robot-driven manufacturing at scale, to provide a joint solution for robot-enabled nondestructive testing (NDT) with autonomous process control. The joint solution incorporates GelSight’s tactile sensing technology into Flexxbotics for advanced robotic machine tending with highly precise quality inspection and digital thread traceability that reduces time-to-inspect by 40% or more.

By robot-enabling GelSight’s tactile sensing devices with Flexxbotics, companies can rapidly perform hundreds of precision measurements during processing on the production line, as opposed to transporting parts to utilize specialized lab equipment or relying on outside laboratory services.

This news was covered by The Robot Report, BostInno, Metrology News, Quality Digest, Control Automation, and more.

Additionally, GelSight appointed Troy Lambeth to its Board of Directors. Troy’s background in aviation and experience building maintenance, repair, and overhaul (MRO) and integrated support businesses will help GelSight expand its reach in key markets to improve surface quality control processes with its tactile sensing technology.

“Troy is a valuable addition to our Board of Directors with his deep expertise in both commercial and military aviation,” said Youssef Benmokhtar, CEO at GelSight. “He understands the ins-and-outs of an MRO business and recognizes the benefits of digitizing surface analysis with GelSight’s tactile sensing solution. Along with the other industry experts on our board, Troy’s knowledge and guidance will help shape our approach to serving the aerospace sector where we see promising opportunities for GelSight to grow.”

Xendee Partnered with University of Illinois Urbana-Champaign to Deliver Phased Approach to Power Data Centers with Renewables and Advanced Nuclear

Xendee, a provider of the leading design and operation platform for distributed energy systems, announced a partnership with researchers from the Department of Nuclear, Plasma, and Radiological engineering (NPRE) at the University of Illinois Urbana-Champaign (UIUC) to analyze and develop distributed energy solutions that include Small Modular Reactors (SMRs) integrated with renewables to power data centers with reliable carbon free energy.

To address growing power demand from AI and data centers while meeting the need for carbon reduction, Xendee and UIUC have partnered to analyze and develop a phased approach to providing local power to data centers through microgrids. This phased approach allows for existing renewable and low carbon generation technologies to be used initially while simultaneously being flexible and scalable to add newer and more efficient technologies such as SMRs at the right times. This flexibility is key to a smooth evolution as we move toward the ultimate goals of sustainable power generation and efficient operation of data centers.

BioSkryb Genomics Partnered with the Human Cell Atlas to Advance Access to Next-Generation Single-Cell Technology

BioSkryb Genomics, a company ushering in the next generation of single-cell technology, announced a partnership with the Human Cell Atlas (HCA), a global consortium that is mapping every cell type in the human body, creating a 3-dimensional Atlas of human cells to transform our understanding of biology and disease.

Through the partnership, HCA collaborating members will be able to more readily access BioSkryb’s technology and gain support in applying the next-generation single-cell technology to their research. BioSkryb’s single-cell technology includes industry-first multiomic products, custom assay services, and cutting-edge computational biology. The company’s patented, whole genome amplification method, primary template-directed amplification (PTA), delivers the most complete and accurate coverage of single-cell genomes, and is the differentiated foundation of its ResolveDNA® and ResolveOME™ single-cell core kits. The automatable kits, which are now shipping to customers around the globe, provide sequencing-ready libraries from single cells in under 8 hours.

Opscura Appointed Obbe Knoop as Chief Revenue Officer

Opscura, innovators of the only drop-in OT security protection platform that offers segmentation, encryption, and protection, appointed cybersecurity expert Obbe Knoop as Chief Revenue Office to lead the company’s rapid global expansion plans and strategy.

With more than 14 years of experience in the security industry, Knoop is recognized as a pioneer in the OT security market. He brings a wealth of expertise in driving global growth and helping companies hyper-scale, positioning Opscura for its next phase of expansion.

ANZU PARTNERS UPDATES

Shape the Future of the Battery Industry: Battery Professionals Invited to Participate in the 2024 Battery Talent Census

We are thrilled to announce the launch of the 2024 Battery Talent Census, the largest and most in-depth initiative designed to capture workforce trends, compensation insights, and talent gaps across the battery industry. Led by Wendy Papakostandini, Principal at Anzu and Program Director for the Volta Foundation, this project is the first of its kind and will offer critical insights into the talent driving this fast-growing sector.

By participating in the census, you’ll contribute to a deeper understanding of key issues such as fair pay, workforce diversity, and transparency in career opportunities. All responses will be anonymized and strictly confidential, with the analysis featured in the 2024 Battery Report, to be published by the Volta Foundation in January.

The 2024 Battery Talent Census is open now until November 14^th. Make an impact today—complete the census and share it with your network of battery professionals. Your voice can help shape a more equitable and transparent future for the battery industry.

Upcoming Events

Anzu representatives plan to attend the following events:

• VC in DC Venture + Startup Gala – October 24, 2024 – Washington, DC
• American Society of Human Genetics Annual Meeting– November 5-9 – Denver, CO
• Society for ImmunoTherapies in Cancer – November 6-10 – Houston, TX
• Super Return North America – November 11-12 – New York City, NY
• Jefferies Life Sciences Conference – November 19-21 – London

Please reach out to info@anzupartners.com if you’re interested in meeting with us at any of these events.

ADDITIONAL ANZU & PC MEDIA COVERAGE

• Anzu Partners was mentioned in a Fortune* article on Roadrunner Venture Studios and the New Mexico State Investment Council’s goal to build startups in the state.
• Niron Magnetics was covered by National Defense Magazine and named in a White House Fact Sheet on strengthening and securing critical mineral supply chains.
• 6K was featured in The Information’s The Electric* on its new plans to make battery electrodes.
• GelSight’s VP of Global Distribution and Key Accounts Thierry Mantel contributed an article to Quality Digest on digitizing metal cold-rolling inspections for enhanced quality.
• TeraPore Technologies Co-founder and CEO Rachel Dorin was selected to receive the Bayh-Dole Coalition’s American Innovator Award.
• Xendee’s agreement to support NEOM was covered by the San Diego Business Journal*.
• AM Batteries was mentioned in a recent TechCrunch Equity podcast episode by Toyota Ventures’ Partner Lisa Coca.
• Adaptive Surface Technologies was featured in a Materials Performance article on the U.S. Congress seeking upgraded hull coatings for the U.S. Navy fleet.
• NanoCellect Biomedical’s VERLO image-based cell sorter was highlighted in Genetic Engineering & Biotechnology News and Co-founder Yuhwa Lo was featured in UC San Diego Today.
• InterVenn Biosciences was mentioned in a Targeted Oncology piece on new data on first-line treatments for kidney cancer.
• OTI Lumionics was highlighted in an Android Headlines article on technology that enables under-panel face ID for smartphones.
• Zeteo Tech’s BreathBiomics device was featured in a Respiratory Therapy article on a proof-of-concept study focused on speedy diagnosis of lower respiratory tract infections through analysis of human breath.

CAREER OPPORTUNITIES

Anzu Partners and our portfolio companies are hiring

Browse the open roles here and learn more about joining our amazing teams.

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ABOUT ANZU PARTNERS

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/.