Salem Partners, LLC (“Salem”) is pleased to announce a successful closing of a $50 million programmatic equity joint venture on November 19th, 2021. The joint venture was structured between Salem’s client, Guardian Yards (“Guardian” or the “Company”) and a West Coast / Los Angeles based private equity firm focused on opportunistic commercial real estate investing. The goal of the joint venture will be to acquire land sites to develop high-performing Industrial Outdoor Storage (“IOS”) | Industrial Service Facilities (“ISF”) real estate properties across the major California markets....(read more)
OncoNano Announces Results from a Phase 2 Study and Presents at the 2021 World Molecular Imaging Congress (WMIC)
OncoNano Medicine, Inc. announced results from a Phase 2 study of its lead clinical development candidate, pegsitacianine, presented as a late-breaking oral presentation at the 2021 World Molecular Imaging Congress (WMIC). This late-breaking oral presentation by Dr. Jason Newman of the University of Pennsylvania Health System revealed the fluorescent nanoprobe, pegsitacianine, provided real-time surgical imaging in a tumor-agnostic manner for the accurate identification of malignant tissue in the operating room.
Pegsitacianine is an intraoperative fluorescence imaging agent under development by OncoNano Medicine for the detection of cancerous tissue in patients undergoing removal of their solid tumor. Relying on an ultra pH-sensitive activation mechanism of OncoNano’s ON-BOARDTM platform, pegsitacianine exists in a fluorescently dark (“Off”) state at physiological pH but transitions rapidly to a fluorescently “On” state in the presence of the elevated acidic tumor microenvironment...(read more)
OncoNano Medicine Announces Positive Preclinical Data at AACR Virtual Conference on Tumor Immunology and Immunotherapy
OncoNano Medicine, Inc. announced positive results from its preclinical study of ONM-501, a novel dual-activating polyvalent STING agonist for immuno-oncology applications. The data, presented at The American Association for Cancer Research (AACR) Virtual Conference on Tumor Immunology and Immunotherapy, demonstrate strong efficacy in multiple tumor models.
“We are excited by the positive preclinical results for ONM-501 recently presented at AACR. STING plays a crucial role in mediating our innate immune systems but has consistently been a challenging pathway to target,” said Martin Driscoll, Chief Executive Officer of OncoNano Medicine, Inc...(read more)
OncoNano Medicine to Present at the American Association for Cancer Research Virtual Conference on Tumor Immunology and Immunotherapy
OncoNano Medicine, Inc. today announced a poster presentation at The American Association for Cancer Research (AACR) Virtual Conference on Tumor Immunology and Immunotherapy to be held on October 5-6, 2021.
The development of ONM-501 represents a new concept in STING activation that could overcome the challenges observed with earlier STING agonists. ONM-501 encapsulates the endogenous STING agonist cGAMP with a proprietary micelle that induces polyvalent STING condensation and prolongs innate immune activation to offer dual ‘burst’ and ‘sustained’ STING activation for a potential highly effective immunotherapy against cancer...(read more)
Onconano Announces Expanded Research Collaboration with UT SouthWestern Medical Center to Advance Development of New Cancer Therapies
OncoNano Medicine, Inc., a clinical-stage company utilizing the principles of molecular cooperativity in drug design to exploit universal tumor and immune targets to diagnose and treat cancer, today announced a multi-year collaboration with The University of Texas Southwestern Medical Center (UTSW) to discover and conduct translational research of novel cancer therapeutics that leverage OncoNano’s core nanotechnology platform. OncoNano will sponsor research efforts in the laboratory of Professor Jinming Gao of UTSW with the objective of uncovering new cancer therapies that can benefit from OncoNano’s ultra pH-sensitive polymeric micelles. OncoNano will have an exclusive option to license new technology arising from the research conducted under this agreement.
“We are excited to expand our research collaboration with the UT Southwestern Medical Center and the prominent UTSW laboratory led by Dr. Jinming Gao,” said Martin Driscoll, Chief Executive Officer of OncoNano Medicine, Inc...(read more)
OncoNano Medicine, Inc. today announced an oral presentation at The World Molecular Imaging Congress 2021 (WMIC) to be held virtually on October 6-9, 2021.
OncoNano Medicine is developing a new class of products that utilize principles of molecular cooperativity in their design to exploit pH as a biomarker to diagnose and treat cancer with high specificity. Our product candidates and interventions are designed to help patients across the continuum of cancer care and include solid tumor therapeutics, agents for real-time image-guided surgery and a platform of immune-oncology therapeutics that activate and guide the body’s immune system to target cancer...(read more)
Salem Partners, LLC (“Salem”) is pleased to announce a successful closed transaction on August 25th, 2021, on behalf of its client, Delta Financial, LLC (“Delta”).
Delta hired Salem to find an institutional capital partner for its equipment leasing originations, servicing, and asset management business.
Led and founded by two equipment leasing experts (Dave Riggleman and Adam Woodard), Delta is a specialty finance / equipment leasing company that provides financial solutions to Fortune 500 companies looking to lease mission critical equipment such as forklifts, IT infrastructure (servers, etc.), medical equipment and other corporate office, logistics, and manufacturing equipment...(read more).
Los Angeles Business Journal names Salem Partners Wealth Management's Erik Ridgley to 2021 List of 'Leaders of Influence: Wealth Managers'
LOS ANGELES, CA August 9, 2021 - Erik Ridgley is CEO & Chief Investment Officer of Salem Partners Wealth Management, a fiduciary and fee-only SEC-registered investment adviser firm that combines institutional expertise in public markets and private investments with personalized financial planning and customized portfolios to protect and grow the wealth of Salem’s clients. In 2020, Ridgley navigated his clients through the pandemic-induced market sell-off and recovery by continuing to patiently invest for the long-term per each client’s custom investment policy statement...(read more)
SALEM PARTNERS ANNOUNCES SUCCESSFUL, $65 MILLION LOAN FINANCING ON BEHALF OF EQUITY OWNED, RESIDENTIAL PLATFORM
Salem Partners, LLC (“Salem”) is pleased to announce a successful, $65 million loan financing that closed on July 23rd, 2021, on behalf of a best-in-class, private equity owned, residential platform (the “Company”).
The Company hired Salem to structure a bespoke credit product against a portfolio of built, under construction, and to-be-built multifamily assets (the “Portfolio”) which will provide the Company with the necessary capital to allocate to its ground-up development pipeline...(read more)
Onconano Medicine Inc. raised around $50 million in series B financing to accelerate the momentum of its technology designed to diagnose and treat cancer with high specificity. The biotech company’s nanosensor works by reacting to low pH and illuminates cancer like a lightbulb, distinguishing cancerous tissue from healthy tissue. This is intended to make it easier for surgeons to remove cancer cells while leaving healthy, functional tissue intact.
The company’s product candidates exploit pH as a biomarker to help patients across the continuum of cancer care, from diagnosis to treatment, and have been gaining momentum in recent years. They include solid tumor therapeutics, agents for real-time image-guided surgery, as well as a platform of product candidates that activate and guide the immune system to target cancer...(read more)
OncoNano Medicine, Inc. today announced the raise of an approximate $50 million Series B financing led by the healthcare investment team at Advantech Capital, a China-based cross-border institutional investment fund. Proceeds of the financing will be used, in part, to support the Phase 3 clinical trials in the U.S. and Europe for pegsitacianine, an innovative real-time imaging agent used in intraoperative surgical resection of solid tumors, and accelerate the advancement of the company’s first therapeutic development program, ONM-501, a novel immune-therapeutic formulated with the company’s core delivery technology...(read more)
Femasys Inc., a biomedical company focused on transforming women's healthcare by developing novel solutions and next-generation advancements providing significant clinical impact to address severely underserved areas, today announced the pricing of its initial public offering of 2,650,000 shares of its common stock at a public price of $13.00 per share. The gross proceeds to Femasys from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $34.45 million. All of the shares are being offered by Femasys. In addition, Femasys has granted the underwriters a 30-day option to purchase an additional 397,500 shares of its common stock at the initial public offering price, less the underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Capital Market on June 18, 2021, under the ticker symbol “FEMY.” The offering is expected to close on June 22, 2021, subject to customary closing conditions...(read more)
Salem Partners, LLC (“Salem”) is pleased to announce a successful transaction closing on May 12th , 2021, on behalf of its client, Rainmaker Holdings Group LLC (“Rainmaker”).
Rainmaker hired Salem to find an institutional capital partner for its growing professional athlete / sports lending business. Rainmaker is a specialty finance company that invests structured debt and equity capital in the media & entertainment, real estate, and sports sectors. Rainmaker was looking to significantly grow their lending business to NFL, NBA, MLB, and NHL athletes through a partnership with...(read more)
Salem Partners, LLC (“Salem”) is pleased to announce a successful transaction closing on May 6th, 2021, on behalf of its client, Jupiter Land Holdings LLC (“Jupiter”).
Jupiter hired Salem to identify and raise $30 million in joint-venture LP equity capital (the “Venture”). After closing, the Venture will horizontally develop the raw land into both residential / for-sale lots and commercial pads (industrial) on a 52-acre land parcel in Murrieta, CA. The land site is adjacent to the prestigious Loma Linda University Medical Center, which is one of the...(read more)
Hubbell Incorporated, (NYSE: HUBB) $8.62B, manufacturer of electronic, industrial, and utility products to solve business challenges, has acquired Armorcast Products Company (“Armorcast”). In coming together, Armorcast’s strong customer base and diverse product line helps Hubbell’s west coast expansion and entry into new market opportunities.
Salem Partners has enjoyed a long-standing relationship with the Boghossian family, 2nd generation owners of Armorcast...(read more)
Salem Partners, LLC (“Salem”) is pleased to announce a successful closing on behalf of its client, Geyser Holdings, LLC and its CEO, Russell Geyser (“Geyser”). Geyser hired Salem to identify and raise the required joint-venture equity capital with the objective to acquire an institutional class, creative office asset called Hollywood 959, located in the heart of the Hollywood Media District in Los Angeles, CA.
Hollywood 959 is a recently developed, 250,000 SF class A, creative office campus developed by JH Snyder Co. Located next door to Sunset Las Palmas Studios, Hollywood 959 is... (read more)
Los Angeles Business Journal Names Salem Partners Wealth Management's Erik Ridgley to 2020 List of 'Leaders of Influence: Wealth Managers'
LOS ANGELES, CA August 10, 2020 - Erik Ridgley, CFA is CEO & chief investment officer of Salem Partners Wealth Management, a boutique multi-family investment office for founders, CEOs, entrepreneurial families, and ultra-high net worth individuals. His firm is a fiduciary and fee-only SEC-registered investment adviser (RIA) that combines institutional expertise in public markets and private investments with personalized financial planning and customized portfolios to drive successful after-tax results and build long-term client relationships. This is his fourth decade of investment management...(read more)
OncoNano Medicine, Inc., a biotechnology company developing ultra pH-sensitive micelles for the detection, staging and treatment of cancer, today announced two poster presentations – including a late-breaking abstract – for the Society for the Immunotherapy of Cancer (SITC) Annual Meeting to be held in National Harbor, Maryland, November 6-10. OncoNano’s core technology is a library of tunable, ultra pH-sensitive micelles that exist intact under baseline physiological pH conditions but dissociate to release their payload under different, predesignated pH levels... (read more)
OncoNano Medicine, Inc. today announced that it has been awarded $15.4 million from the Cancer Prevention and Research Institute of Texas (CPRIT) to advance ONM-500, one of OncoNano’s innovative oncology product candidates. In ONM-500, OncoNano leverages its proprietary pH-sensitive micelle technology to deliver antigens while activating innate immunity for the treatment of cancers caused by the human papilloma virus (HPV). This grant award adds to an initial $6 million grant that the company received from CPRIT in 2014 for advancement of the company’s ONM-100, where OncoNano’s micelle technology is being used to intraoperatively image tumors during surgical resection, currently in Phase 2 clinical trials... (read more)
Salem Partners, LLC (“Salem Partners”) is pleased to announce the successful completion of a $35 million senior loan for its client, Urban Mining Company (“UMC”) and its investors and affiliates. UMC presented Salem Partners with the challenge to structure a credit product that would provide enough proceeds to refinance its existing real estate debt, finish its mission critical manufacturing facility in the Austin / San Marcos region of Texas and capitalize all transaction and interest costs (a proceeds level which was unavailable by typical bank lenders) all within a tight time frame... (read more)
Los Angeles Business Journal names Salem Partners Wealth Management's Erik Ridgley to 2019 List of 'Leaders of Influence: wealth managers'
LOS ANGELES, CA August 6, 2019 - Erik Ridgley, CFA is CEO & Chief Investment Officer of Salem Partners Wealth Management, a boutique multi-family investment office for founders, CEOs, entrepreneurial families, and ultra-high net worth individuals. His firm is a fiduciary and fee-only SEC-registered investment adviser that combines institutional expertise in public markets and private investments with personalized financial planning and customized portfolios to drive successful outcomes and build long-term client relationships...(read more)
Salem Partners is pleased to announce yet another recent multifamily community equity financing as part of the success of an ongoing joint-venture in the real estate / multifamily sector for its client, Grand Peaks Properties, Inc. (“GPP”). The joint-venture is between GPP and a global family office with the objective to aggregate $1 billion of institutional quality multifamily assets (the “Program”).
The most recent equity financing closed on July 15th, 2019 where $23 million of equity capital was allocated to a ground-up construction project in Denver, CO. Prior to this, $25 million was allocated to value-add / renovation project in the Miami, FL market. Since the initial closing in 2017, the Program has acquired / developed six (6) properties in their key markets (listed below) totaling nearly $500 million in gross value across thousands of apartment units... (read more)
OncoNano Announces Completion of Phase 1a Study and Expands into Phase 1b for Intraoperative Imaging Agent to Detect Tumors and Metastatic Lymph Nodes That Often Go Undetected During Surgery
OncoNano Medicine, Inc. today announced the completion of its Phase 1a clinical trial and expansion into Phase 1b to evaluate ONM-100, the intravenously administered imaging agent to detect tumors and metastatic lymph nodes in solid cancers during surgery. The results of Phase 1a will be included in a poster presentation at the San Antonio Breast Cancer Symposium being held on December 4-8, 2018... (read more)
AsclepiX Therapeutics, Inc., a biopharmaceutical company focused on developing vital new therapies based on a novel peptide platform, today announced that it has raised $5 million in Convertible Note funding, led by Barer & Son Capital with additional funds from Rapha Capital Management, Salem Partners, TEDCO, and Piedmont Capital Partners. In concert with the funding, AsclepiX expanded its board to add Josh Barer, Kevin Slawin, MD, and Sapna Srivastava, PhD, to the founding members Aleksander Popel, PhD and Jordan J. Green, PhD and CEO Wendy Perrow, MBA... (read more)
Sebacia, Inc., a privately held, commercial stage dermatology and aesthetics company, today announced that the U.S. Food and Drug Administration (FDA) has granted clearance for its lead product, Sebacia Microparticles. This significant achievement is a milestone in the treatment of acne and follows the company’s completion of its pivotal study, which clearly demonstrated clinical efficacy and safety of Sebacia Microparticles, and its 510(k) submission to the FDA in June 2018... (read more)