Fitness tech company JAXJOX raises $10M as it gets ready to ship AI-enabled workout system



The JAXJOX InteractiveStudio exercise system. (JAXJOX Photo)


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The JAXJOX InteractiveStudio exercise system. (JAXJOX Photo)

JAXJOX, the Redmond, Wash.-based fitness technology company, has raised $10 million in a new funding round to help pay for the research and development of its signature InteractiveStudio workout equipment.

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The Series A round included investors Dowgate Capital Ltd. and entrepreneur Nigel Wray, and brings total funding to $17 million for the 3-year-old company.

JAXJOX is getting set to release its InteractiveStudio smart gym, a home fitness system that includes digitally adjustable weights, AI-enabled connected tech built into the equipment, and live and on-demand classes.

With connected tech built into individual pieces of free-weight equipment, such as a smart kettlebell, users don’t have to stand a certain distance from a screen to have form and motion tracked.

“By monitoring performance metrics and using AI, we can give users a more holistic view of their health and provide recommendations on improving their wellbeing,” founder and CEO Stephen Owusu said in a news release. “We believe that, for users, tracking power generated while lifting will become as important as tracking your heart rate while running.”

The InteractiveStudio is available for pre-order on the JAXJOX website and retails for $2,199 with a $39 monthly subscription. The system will also sell as part of an exclusive retail partnership this fall with Best Buy.

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Bristol Myers Squibb buys biopharma company MyoKardia for $13B

Oct. 5 (UPI) — Bristol Myers Squibb said Monday it will buy biopharmaceutical company MyoKardia for $13 billion, its second large acquisition in two years.

MyoKardia, which develops therapies for serious cardiovascular diseases, produces mavacamten, a potential medicine to treat the chronic heart disease obstructive hypertrophic cardiomyopathy.

“We are further strengthening our outstanding cardiovascular franchise through the addition of mavacamten, a promising medicine with the potential to address a significant unmet medical need in patients with cardiovascular disease,” Bristol Myers Squibb CEO Dr. Giovanni Caforio said in a statement.

MykoKardia CEO Tassos Gianakakos said the company was created eight years ago to address serious cardiovascular disease with “bold and innovative science.” Since then, he said, it’s produced treatments to help heart function after illness.

“Bristol Myers Squibb shares our vision for transforming the treatment of cardiovascular disease,” Gianakokos said in a statement. “They value our team and the potential of our platform and, most importantly, share our unwavering commitment to placing patients at the center of everything we do.”

Bristol Myers Squibb last year bought cancer drug company Celgene for $74 billion. Celgene produces oncology drugs such as Opdivo, Yervoy, Revlimid and Pomalyst.

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Large Pennsylvania health care company hit by malware attack

The computer network at a Fortune 500 health care services company went down as a result of a malware attack over the weekend, experts say.

The Pennsylvania-based Universal Health Services (UHS) issued a statement on Tuesday saying its facilities are “currently offline,” but it only identified the attack as a “security incident caused by malware.”

The attack occurred early Sunday morning. UHS subsequently shut down all of its networks across the U.S.

Experts see it as yet another malware attack among many hitting schools and health care providers. So far this year, a total of 53 health care providers and health care systems in the U.S. have been hit with ransomware, impacting care at up to 503 individual hospitals and medical clinics, according to cybersecurity firm Emsisoft.

HACKERS ATTACK NEVADA SCHOOL DISTRICT, PUBLISH SOCIAL SECURITY NUMBERS ONLINE

“Reports coming from [UHS] employees show all the signs of a ransomware attack,” Brett Callow, a Threat Analyst at Emsisoft, told Fox News.

(Thomas Trutschel/Photothek via Getty Images)

The reports Callow is referring to are from Reddit thread, where UHS employees have been discussing the attack.

An employee told cybersecurity news site Bleeping Computer that, during the cyberattack, files were being renamed to include the “.ryk” extension, used by Ryuk ransomware.

“Employees were also told to shut down all systems to block the attackers from reaching all devices on the network,” the Bleeping Computer report said.

RANSOMWARE ATTACK RESULTS IN DEATH AT GERMAN HOSPITAL

Fox News has reached out to UHS for comment.

In a textbook ransomware attack, the attacker locks critical files and then provides instructions on how to unlock the files — provided that the victim pays. Increasingly, ransomware gangs have been publishing sensitive data if the victim doesn’t pay.

Attacks on health care providers and hospitals can have devastating consequences as patients are diverted to other hospitals and critical patient data becomes inaccessible.

After a Sept. 9 ransomware attack at Düsseldorf University Hospital in Germany, a patient had to be directed to another hospital and died as a result of the delay.

RANSOMWARE JUMPS IN SEPTEMBER AS SCHOOLS BECOME PRIMARY TARGET

“The threat I worry most about is a ransomware attack on an overloaded hospital caring for COVID-19 patients … thereby putting frail patient lives and the community at risk,” John Riggi, senior advisor for Cybersecurity and Risk at the American Hospital Association wrote recently.

Because hospitals cannot afford downtime, they are an attractive target for ransomware gangs, Emsisoft’s Callow said.

“The criminals probably believe that hospitals will be more likely than other organizations to pay and to pay quickly in order to restore critical services,” Callow explained.

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Also, particularly in the U.S., due to the high cost of health care, providers are perceived by ransomware gangs as financially capable of paying large ransoms and making them attractive targets, Sam Roguine, a ransomware expert at Arcserve, told Fox News.

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Satanic Temple sues Alabama billboard company over ad rejection

The Satanic Temple said it is suing an Alabama billboard company over its rejection of an ad that targeted anti-abortion counseling centers.

The plan called for eight billboards in Arkansas and Indiana near crisis pregnancy centers, which counsel women against abortion. The billboards are owned by Lamar Advertising, based in Birmingham.

The billboards would have contained messages comparing a fertilized human egg, which it called “not a baby,” to cake batter, which it called “not a cake.”

The Satanic Temple says it has a religious abortion ritual that women getting an abortion can perform, which makes them exempt from complying with state regulations such as mandatory waiting periods and compulsory counseling. It argues that Religious Freedom Restoration Acts in many states “protect religious practices and beliefs from government interference.”

The Satanic Temple provides a downloadable letter of exemption from abortion regulations based on religious belief. The religious abortion ritual it provides includes the personal affirmation, “By my body, my blood, by my will it is done.”

The Satanic Temple, based in Salem, Mass., says that after it submitted the artwork to Lamar Advertising, Lamar rejected all four proposed designs. Lamar’s contract says that they may reject or remove any billboard that is not “in good taste and in line with the moral standards of the individual communities in which it is to be displayed.”

Lamar informed the Satanic Temple that all of the content was objectionable. The Satanic Temple alleges that Lamar engaged in religious discrimination, acted in bad faith and deprived it of the ability to advertise its religious abortion ritual because Lamar “holds a monopoly” over much of the U.S. billboard market.

“While it is understandable to be concerned with forcing a private entity to engage in speech or conduct it objects to, this scenario is different,” said Lucien Greaves, co-founder of The Satanic Temple. “Lamar initially agreed to work with us and their rejection appears to be religiously based. In addition, they have a virtual monopoly in certain regions. In this way, Lamar is able to regulate public speech and they are not permitted to selectively exclude religious voices they object to.”

AL.com has contacted Lamar, but officials did not immediately comment.

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Regenerative medicine company Aziyo Biologics sets terms for $50 million IPO

Aziyo Biologics, which makes regenerative medical products for various tissue types, announced terms for its IPO on Wednesday.

The Silver Spring, MD-based company plans to raise $50 million by offering 2.9 million shares at a price range of $16 to $18. Insiders intend to purchase $20 million worth of shares in the offering. At the midpoint of the proposed range, Aziyo Biologics would command a fully diluted market value of $177 million.

Through its proprietary tissue processing platforms, the company has developed a portfolio of advanced regenerative medical products designed to be similar to natural biological material. Its core products are designed to address the implantable electronic device/cardiovascular, orthopedic/spinal repair, and soft tissue reconstruction markets. 

Aziyo Biologics was founded in 2015 and booked $42 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol AZYO. Piper Sandler, Cowen, Cantor Fitzgerald and Truist Securities are the joint bookrunners on the deal. It is expected to price on Wednesday, October 7, 2020.

The article Regenerative medicine company Aziyo Biologics sets terms for $50 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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