Sorrento gets US FDA nod for mRNA Covid-19 vaccine trial; One Peak closes $1 bln fund; NeuReality raises $35 mln

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Sorrento Therapeutics has received clearance from the US FDA to initiate clinical trials with its new mRNA vaccine against Omicron variants of the Coronavirus. One Peak, an investor in growth-stage B2B software companies in Europe and Israel, has closed its latest fund at $1 billion, Private Equity Wire reported yesterday. Israeli AI inference chip venture NeuReality has raised $35 million in series A funding. Apple added 700 new price points to the App Store. And Amazon may be close to launching Prime Gaming in India.

Notes:

Apple yesterday announced an upgrade to pricing tiers, adding 700 more price points, and new pricing tools that developers can use to set prices per App Store country or region and manage foreign exchange rate changes. Apple didn’t say anything about the commission it charges, which currently can be up to 30 percent on in-app sales.

These new features will be available for apps offering auto-renewable subscriptions starting Dec. 6.

Amazon may be close to launching Prime Gaming, its subscription service that offers free access to game titles bundled with Amazon Prime and Video plans, in India, TechCrunch reports.

A support page on the Prime Gaming website also mentions India as an operational market for the service, TechCrunch notes. However, users who’re currently attempting to access Prime Gaming will find a message that says they are in a country where the gaming service is not available.

Sorrento Therapeutics has received clearance from the US FDA to initiate clinical trials with STI-1557, its next-generation mRNA vaccine against SARS-CoV-2 Omicron variants, the Silicon Valley biopharma company said in a press release yesterday.

This mRNA vaccine incorporates a modification that prevents certain unwanted side effects in vital organ tissues following the administration of the current FDA-approved mRNA vaccines. The mRNA is encapsulated in a Sorrento proprietary lipid nanoparticle formulation to protect mRNAs from degradation, which helps the vaccine retain its effectiveness, the company said in the release.

In biotech venture capital news, Avalon BioVentures, a venture capital firm dedicated to early-stage biomedical innovation, yesterday announced the closing of its first venture fund, ABV1, with $135 million in funding from new and existing institutional investors.

One Peak, an investor in growth stage B2B software companies in Europe and Israel, has closed the One Peak Growth III fund at its hard cap of $1 billion, Private Equity Wire reported yesterday.

One Peak, which was founded by David Klein and Humbert de Liedekerke Beaufort, is the largest fund in Europe dedicated to backing fast-growing B2B software companies in the $15 million to $100 million investment range, according to the report.

NeuReality, an AI hardware startup, which specializes in the next generation of AI inferencing platforms, has raised $35 million in Series A funding, the Israeli company said in a post on its website.

The round was led by Samsung Ventures, Cardumen Capital, Varana Capital, OurCrowd and XT Hitech. The round brings NeuReality’s total funding to $48 million.

The money will support NeuReality’s plans to start deploying its Inference solutions in 2023, the company said.

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