Center for Innovative Technology (CIT)

Proceeds to Fund Advancement of Programs Addressing Acute Lung Injury Due to COVID-19 and Severe Birth Asphyxia (HIE)

April 21, 2020 08:30 AM Eastern Daylight Time
NORFOLK, Va.--(BUSINESS WIRE)--ReAlta Life Sciences, Inc., today announced that it has successfully closed an oversubscribed Series A2 financing of $14 million, bringing the total Series A financing to $26 million. The financings were led by Children’s Research Holdings and Marathon Pharma, as well as additional undisclosed investors. ReAlta Life Sciences is a biotech company dedicated to harnessing the power of the immune system through its PIC1 technology platform to address life-threatening medical needs.

https://www.businesswire.com/news/home/20200421005101/en/ReAlta-Life-Sciences-Closes-14-Million-Series

Neil Cavuto @TeamCavuto | Senior Vice President, Managing Editor and Anchor for both FOX News Channel and FOX Business Network. Anchor of FNC's Your World, Cavuto LIVE and FBN's Cavuto: Coast to Coast.

Sandra Smith @SandraSmith Fox Co-anchor of @AmericaNewsroom 9-12pm ET on #FoxNews

Interview Tom Walker, DroneUp CEO, discusses how his company is teaming up with UPS to deliver medical supplies to frontline COVID-19 workers | Tom Walker | CEO of DroneUp | CIT GAP Funds Portfolio Company | Virginia Center for Unmanned Systems at CIT Advisory Board Member

​Video link:https://video.foxnews.com/v/6151617096001

​https://pressroom.ups.com/pressroom/ContentDetailsViewer.page?ConceptType=PressReleases&id=1587471397741-835

​https://www.foxnews.com/tech/ups-droneup-test-drone-delivery-of-medical-supplies

​*DroneUp is a CIT GAP Funds Portfolio Company, and DroneUp CEO Tom Walker serves as a CIT Unmanned Systems Advisory Board Member.

Center for Innovative Technology (CIT) announced that its early-stage fund, CIT GAP Funds, has invested in Tysons, Virginia-based Curbside Kitchen, developer of a platform to connect food trucks with owners of commercial offices and multi-family residential buildings.
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The company was founded in 2017 and last August also nabbed an investment from CIT’s Virginia Founders Fund, which supports companies with female, minority or veteran founders, or other entrepreneurs located in regions outside of Northern Virginia. Curbside Kitchen CEO Amy Katz said in a news release that the company has been able to quickly roll out mobile and text ordering in the last year with the financial support from CIT.

​A Charlottesville shoe-making company is switching its focus from feet to the face in the wake of the COVID-19 pandemic. Owners of OESH Shoes - (CIT CRCF Award Recipient) - are taking their expertise in 3-D printing & using them to print durable, reusable respirator face masks for emergency responders.

Story and video here: https://www.nbc29.com/2020/04/01/charlottesville-shoe-company-uses-d-printers-develop-respirator-masks-first-responders/

Summary | Virginia companies (including independent non-profits) have access to a number of emergency financial support programs.

Some are existing programs and some are new, set up specifically to address COVID-19-related economic disruption. Some are state programs, some are federal programs, and some are private programs.

Eligibility for each program is different, and each program requires its own application.

​This brief resource guide is targeted primarily to the needs of Virginia’s high-growth startup community, but should be helpful to Virginia companies in general. It provides brief descriptions of each financial support program, and includes links to find out more.

​Please note that we are coordinating our efforts with Governor Northam’s office, and we encourage you to also monitor the governor’s COVID-19 resource page (https://www.virginia.gov/coronavirus-updates/).