STARTUPS & INNOVATIONS

LAUNCH

MyCarAuction recently unveiled its used-car auction platform, which connects Southern Californian consumers with interested car buyers. 

The company, which has sold about 150 cars through the platform, launched in Southern California because about 10% of the used car market is here, according to co-founder Mark Moshayedi, a managing partner of real estate investment firm Space Investment Partners, former head of storage device firm STEC, and a longtime vintage car collector. 

Sellers enter their information online and receive a car valuation in 90 seconds. MCA sends a company representative to conduct a 15-minute inspection, and the seller’s car is then uploaded to the auction platform.

Real-time bidding occurs with more than 50,000 dealerships via a partnership with the largest car auction platform in the U.S. 

When the seller’s car sells, MCA will schedule a pickup time and deliver full payment. If the car sells for more than the assigned value, the profit is evenly split between the seller and MCA.

At any point, the seller is able to cancel the sale.

The company expects to include a sell-now feature in the near future; and will expand nationwide in 2021.

Moshayedi launched the new venture with business partner Ryan Gallagher. 

Cicero Diagnostics Inc. in Huntington Beach recently unveiled its mobile app, which provides education on its diagnostic test that looks for two biomarkers that are highly associated with endometriosis.

Endometriosis is a condition in which tissue grows outside of the lining of the uterus and is thought to be a leading cause of unexplained infertility. It is difficult to diagnose; effective treatment options exist.

The ReceptivaDx app—named after the namesake test—allows Cicero to connect with patients directly and provide information at their fingertips, said Chief Executive Chris Jackson.

“These women—who are struggling to get pregnant or stay pregnant in some cases—are voracious readers and determined to seek treatment. Now, they can take out their phone, pull up our app and ask for our test at the doctor’s office.”

Cicero is also conducting a National Institutes of Health-funded clinical trial to determine better sample methods, such as saliva collection rather than a biopsy procedure.

This would expand opportunities in the OBGYN market, which is less specialized than the fertility clinic market, Jackson said. 

Cicero’s ReceptivaDx test is currently offered in about 300 IVF clinics in the U.S.

FINANCING

Irvine-based Violux Inc., a developer of virus-neutralizing countertop appliances, recently raised $1.2 million in a seed round of financing ahead of its commercial launch.

The round was led by Okapi Venture Partners in Laguna Beach, with participants from Envoy Ventures, the investment arm of Irvine’s digital marketing agency Envoy, and Los Angeles-based Unlock Ventures.  

Violux’s countertop appliances use UV-C light technology to kill 99.9% of germs, bacteria and viruses including coronavirus. 

The company’s Luma product line features two appliances, which are about the size of a standard microwave and can clean items such as groceries and car keys in 60 seconds to three minutes. 

The products, which are available for pre-order on Indiegogo, feature smart sensors that allow users to connect the device to their smartphone in order to receive alerts and reminders. 

The sensors also ensure the product is providing the proper disinfection levels at all times, according to Chief Executive Sean Clottu. 

“We invented the Luma devices with smart sensing capabilities to establish ourselves as the most-trusted brand on the market,” Clottu said.

Violux is a member of the UCI Beall Applied Innovation Wayfinder incubator.

PARTNERSHIP

NKMax America Inc., a Santa Ana-based biotech firm, recently announced a clinical development and supply chain agreement with Merck and Pfizer. 

Under the agreement, NKMax will study its natural killer cell therapy—type immunotherapy that uses patients’ own immune cells to fight off cancer—in combination with an oncology drug developed by its pharmaceutical partners. 

The companies will enroll up to 18 patients with solid tumors in the joint effort beginning this month. 

NKMax is currently executing two cancer clinical trials and has safely treated about 300 patients thus far.

The company spun out of a South Korean test developer ATGen Corp., which provided the upstart with $35 million in initial funds, and set up shop in Irvine in 2017. 

The U.S.-based unit, with over 50 employees, subsequently moved to a 25,000-square-foot facility in Santa Ana and raised an $11 million seed round in 2019.

PRODUCTS

Irvine-based OnSite Waste Technologies Inc. recently kicked off a program to support federally qualified health centers, rural health centers and long-term care facilities, which can use CARES Act funds to purchase OnSite’s medical waste disposal and sterilization system. 

The company’s TE-5000 is a desktop unit that converts regulated medical waste such as used needles into sterile garbage for small-scale processing. 

Chief Executive Brad Barnes said the pandemic has brought the highest level of attention to infectious medical waste, an industry that has been stagnant for about 50 years.

“Now everyone needs to manage their waste to help stop the spread of the COVID-19 and protect their employees and visitors,” said Barnes, who noted OnSite Medical has seen a record number of sales since June.  

OnSite estimates it can save doctor’s offices 75% in annual costs via a more convenient and sanitary solution for medical waste disposal.

The company, started in 2016 and closed a $3.5 million seed round last April led by Mark IV Capital, a Newport Beach-based investment firm that counts a number of local firms in its portfolio, with contribution from The Cove Fund II.

Irvine-based Pform Innovations will launch its modular fabric face masks in Target stores this October. 

The company—created by Andy Fathollahi, founder of electronic accessories firm Incipio and vape product maker Kanvas Co.—touts its pform masks as a breathable, talkable and comfortable alternative to surgical masks.

It is made out of a reticulated polyurethane foam material, which is lightweight and flexible so that it conforms to the user’s face, the company says. 

Masks are available online in three sizes and five colors for $9.99 each. 

Last month, Pform Innovations partnered with Swyft Inc. to deploy automated retail kiosks stocked with first-generation pform masks in 10 New York City subway stations. 

Fathollahi leads the company with business partner Jeff Conner, who serves as chief financial officer for Kanvas and previously oversaw financial and strategic activities for Irvine-based venture firm Innovate Partners.