STARTUPS & INNOVATIONS

LAUNCH

Docbot Inc. of Irvine kicked off a new colonoscopy trial for its tumor-detection imaging platform on June 24. 

The 6-year-old firm’s Ultivision platform takes images during a colonoscopy, incorporates artificial intelligence and machine learning, and compares the images with more than 20 million annotated images in its database. 

This allows Docbot to determine with 98% accuracy whether a polyp or small growth is cancerous or not, according to Chief Executive Andrew Ninh. 

One major benefit of the platform is that it “integrates with existing workflows, observing and finding lesions with artificial intelligence,” said Ninh, who won a Business Journal Innovator of the Year award in 2019. 

The pivotal trial will enroll nearly 1,000 patients across six sites in the U.S. It is expected to be completed within the year.

Following the pivotal trial for colonoscopy, Docbot will seek approvals for endoscopy and other gastrointestinal screening procedures. 

Ultimately, “we envision a company that through optical procedures can directly prevent cancers, as well as other digestive diseases,” Ninh said.

The firm, with about a dozen employees and University of California-Irvine co-founders, is currently raising additional funds to support clinical trials.

Irvine-based Integrated Behavioral Health Inc. has launched a healthcare incubator and industry consortium with the goal of creating new “evidence-based technologies” to improve access to mental healthcare.

IBH is an employee assistance program provider that serves over 7 million members and represents more than 26,000 business clients across the U.S.

One of the IBH incubator’s first programs, called CareGiver Plus, connects seniors with trained college students who serve as caregivers, offering light chores and technology assistance, in addition to companionship.

The program was launched in partnership with Papa Inc., a caregiver provider that works with health plans and large employers.

IBH is working on three additional sponsored projects, which focus on behavioral therapy in a digital environment; virtual reality-powered forms of treatment; and gathering data and artificial intelligence-based analytics to improve patient care.

FINANCING

Adamis Pharmaceuticals Corp. has licensed the commercial rights to Tempol, an investigational drug developed by Irvine’s Matrix Biomed Inc., for the treatment of respiratory diseases including COVID-19, asthma and influenza, as well as the treatment of the effects of radiation. 

Matrix Biomed is a 3-year-old gene-focused therapeutics firm.

Adamis (Nasdaq: ADMP), a specialty biopharmaceutical company based in San Diego with a $41 million market cap, paid Matrix $250,000 for the license. Adamis said it will also issue 1 million shares of its convertible preferred stock and upon product commercialization, net profits will be equally distributed between the companies. 

Tempol has demonstrated activity that decreases inflammation, prevents blood clots and inhibits oxidizing agents that could cause damage. As a result, Adamis said it believes Tempol shows promise in treating acute respiratory distress syndrome or ARDS, a condition brought on by lung damage that is considered a major cause of death of COVID-19. 

Adamis said it “will work closely with the FDA to expedite the testing” against COVID-19. It will also design and conduct a Phase 3 study for the use of Tempol in treating patients experiencing radiation side effects due to cancer treatments. 

Matrix is currently conducting its own clinical trials with Tempol for the treatment and prevention of glaucoma.

Astiva Health Inc., a new Medicare Advantage Prescription Drug health plan provider, raised $15.8 million from nine investors, according to regulatory filings. 

Records indicate the Irvine-based firm may seek an additional $14 million ahead of its launch in 2021. 

Astiva wants to provide insurance to underserved senior populations, with a focus on meeting their social and cultural needs, in OC and San Diego, the company said. 

The company plans to incorporate technology into its services, such as a personalized disease management platform that “improves access to care” and “quality outcomes,” it said.

Astiva is led by Chief Executive Frank Vo, who has more than 20 years of experience in the healthcare industry. He previously launched and built two Medicare Advantage Insurance firms: Cerritos-based Honored Citizens Choice Health Plan, which was acquired by Orange’s Alignment Healthcare in 2014; and Easy Choice Health Plan, which sold to WellCare Health Plans in 2012.

Several healthcare startups have raised millions for Medicare Advantage opportunities; Alignment Healthcare raised $135 million in March and Clever Care Health Plan Inc. of Westminster, which is launching in 2021, raised $20 million in April.

PERSONNEL MOVES

Bitvore Corp., an Irvine-based data analytics firm, appointed Susan Hauser to its board of directors this month.

Hauser spent 28 years with Microsoft Corp., serving as vice president across customers and partnerships. She is currently a partner with technology advisory business Prime Foray.

“As a highly respected and seasoned software industry executive with extensive global sales, partner and management experience, we look forward to Susan’s expert engagement and assistance as we deliver our groundbreaking AI-powered solutions to market,” said Jeff Drake, chief executive of Bitvore, whose exec team counts ties to Broadcom and other notable firms.

Bitvore uses data and artificial intelligence to gather insights about business decisions, providing clients with the ability to “identify emerging risk and opportunity,” the company said.

Seal Beach-based Cuddly Inc., a crowdfunding and technology platform for animal shelters, has added Carol Novello to its board of directors.

Novello is the founder of Mutual Rescue, a nonprofit and media initiative that encourages animal rescues, and a former president of Humane Society Silicon Valley. Prior to nonprofits, Novello was a senior executive at Intuit.

“Cuddly’s innovative business model combined with its fresh approach to fundraising positions the organization for strong growth,” Novello said.

Cuddly bills itself as an Amazon-meets-GoFundMe platform, which also creates technology to improve the adoption process by pairing owners with pets that meet their housing situations and lifestyle preferences.

SetSchedule, a software-as-a-service firm for real estate agents and brokers, recently named Daniel Parzivand chief client officer. 

Parzivand joined the Irvine-based company as a founding member in 2014 and previously served as vice president of sales operations. 

“My passion for not just meeting customer expectations, but blowing them out of the water is what helped drive me, and with such a great product and team to rely on, I was able to make a real difference in the spectacular growth of SetSchedule,” Parzivand said. 

In his new role, Parziand will be the “top client advocate internally for real estate professionals and home shoppers” and will oversee national sales teams and all customer-facing operations. 

SetSchedule is a lead-generation platform, with additional tools for sales, marketing and business efficiency.