The Covira Surgical (Biotech) offering is now closed and is no longer accepting investments.

Covira Surgical (Biotech)

Post-Surgical Infection Prevention

Covira Surgical (Biotech)

Post-Surgical Infection Prevention

North Chicago, IL
Biotechnology
Health Tech
Covira is an early-stage biotech company, a spinout from The University of Chicago, focusing on the prevention of post-surgical infections. Covira’s approach to solving post-operative infections can be transformative to the field and even Business Worldwide Magazine named Covira Surgical Among the 2021- Top 20 Most Innovative Companies to Watch. This microbiome-focused company is based on the work of Dr. John Alverdy, MD, a professor of surgery, practicing gastrointestinal surgeon and world authority on the prevention of post-surgical infections. Covira has developed a proprietary solution phosphate (Pi) conjugated polyethylene glycol (PEG) polymer to reduce infection risk and related complications following surgical procedures.

$1,000,558

raised
526
Investors
$9.99M
Valuation
$1.00
Price per Share
$250.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left

$1,000,558

raised
526
Investors
$9.99M
Valuation
$1.00
Price per Share
$250.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left
This offering ended on April 28, 2022 and is no longer accepting investments.

Reasons to Invest

Market Opportunity: Covira estimates the US total available market for Pi-PEG's top three prioritized indications (Surgical Site Infections, Anastomotic Leak, Sepsis) to be $8.8B. The peak year net revenue forecast is projected to reach $2.5B by 2037 (Source: IQVIA).
Technology Platform: Pi-PEG is an orally administered anti-virulence agent to prevent postoperative infections and their progression to sepsis.
Management Team: Founder is a preeminent surgeon-scientist and world leader in GI surgical infection research, CEO is a proven life science executive from J&J, Abbott and four prior startups including two in the biotech space culminating in strategic sales to larger multinational corporations.

Covira’s Platform Technology (Pi-PEG) is the culmination of 30 years of research and development led by Dr. John Alverdy, MD, Founder & Chief Scientific Officer

Dr. Alverdy has made solving infection-related postoperative complications research his life’s work. 


The Alverdy Lab, located at The University of Chicago, is and has been, a continuously funded NIH-funded laboratory that studies the molecular interactions of bacteria and the intestinal mucosa in order to understand how life-threatening infections arise from the gut microbiota following trauma and major surgery and during critical illness. 

The Problem


Post-operative Infections continue to increase in incidence, severity and are due to pathogens that are resistant to the antibiotics chosen for prophylaxis.

Despite advances in infection control practices (operating room ventilation, sterilization methods, barriers, surgical technique, antimicrobial prophylaxis) post-surgical infections still occur even within the top-rated hospitals and when surgery is performed by top-rated surgeons. Post-operative infections remain a substantial cause of prolonged hospitalization, readmissions, morbidity and can lead to life-threatening Sepsis or Death.


  • Prolonged hospitalization (+10 days)

  • Readmissions (5x more likely)

  • Morbidity (increased)

  • Life-Threatening Sepsis or Death (2x as likely)

More than 270,000 Americans die of Sepsis each year. Surgical Site Infections (SSI) and Sepsis combined to cost the US Healthcare system over $34B annually.

Balancing the overuse of antibiotics with the problem of emerging and increasing antibiotic resistance is a global public health concern that Covira continues to address

The Solution


Pi-PEG is prescription medicine delivered as a drink that coats the intestinal tract and works to prevent post-surgical infections.

Pi-PEG is the first-of-its-kind solution to inhibit bacterial virulence without affecting bacterial growth and the balance of the microbiome such that there is a measurable reduction in post-operative infections (SSI, AL) and their progression to Sepsis. Pi-PEG collaborates with the gut microbiome to enhance overall health rather than destroying it in the process of attempting to eliminate threatening pathogens.  

Prior to surgery, the patient will receive a prescription for Pi-PEG (powder form to be mixed with water). Patients will drink the colorless and tasteless Pi-PEG solution before and after their surgical procedure. 


  • Covira Surgical’s product, phosphate covalently bonded to polyethylene glycol (Pi-PEG), is under investigation for multiple infection prevention applications 

  • Pi-PEG is a novel, non-antibiotic agent that prevents lethal bacterial infection by enriching the local environment with a key element needed for bacteria to successfully grow and reproduce phosphate. Phosphate-rich environments provide a key universal cue to bacteria to suppress their virulence (harmfulness), feed, grow and reproduce. 

  • In preclinical studies, Pi-PEG has prevented infection and suppressed virulence of multiple drug-resistant bacteria strains 

  • The asset preserves the gut microbiome, reducing the collateral damage to the microbiome when antibiotics are applied. 


Pi-PEG coats the intestinal tract and prevents post-operative infections…a microbiome-promoting strategy where bacterial virulence is suppressed, yet bacterial growth and functions are maintained.

The Market


Pi-PEG represents a peak projected opportunity of $2.5B by 2037 in the USA across SSI, AL, and Sepsis 

Surgical Site Infection (SSI) represents the largest opportunity due to the number of potentially eligible inpatient & ambulatory surgeries ($1.8 B projected by 2037) and the option for prophylactic use

  • Pi-PEG, as a prophylactic anti-infective in surgery patients, has an addressable projected population of 25.2M by 2037


Anastomotic Leak (AL) represents a high unmet need area with few options directly analogous to Pi-PEG, though small market size contributes to lower projected revenue 

  • Pi-PEG has an addressable AL patient population of 964K currently and is expected to reach 1.1M by 2040 


Sepsis represents a more focused usage for Pi-PEG, with low (but increasing) incidence 

  • Pi-PEG has an addressable population of 2.8M patients currently and is expected to reach 3.0M by 2040 

Our Traction


Patent protected technology (Pi-PEG) that has been proven to be safe and effective in multiple pre-clinical small animal studies

We have completed target discovery, lead compound identification, optimization, pre-clinical development and have proven Pi-PEG’s ability to safely and effectively reduce the risk of Surgical Site Infections, Anastomotic Leak, and Sepsis in small animal models.

Dr. Alverdy’s research, discovery, product development, and product testing have led to 225+ peer-reviewed high-impact journal publications and 3 patents (1 issued and 2 pending). 



Our next 2 years will be focused on completing the Pre-IND (Investigational New Drug) work and filing the IND application with the FDA. Followed by Phase I First in Human Proof of Principle.

What We Do


Revolutionizing the prevention of infections following surgery and injury by collaborating with the gut-microbiome

Post-operative infections can occur at multiple locations within the operative site (SSI) and can lead to life-threatening Sepsis. Covira’s Pi-PEG is a novel therapeutic alternative to infection control that is distinct from traditional antibacterial approaches. Pi-PEG suppresses bacterial virulence while allowing bacteria to grow and reproduce normally yet remain harmless.  This approach allows a robust and resilient gut-microbiome to function normally to the benefit of the patient.    

By covalently bonding Pi with PEG...

  • Pi is delivered and durably embedded to potential sites of infection where it suppresses bacterial virulence.

  • PEG enhances the epithelial barrier and physically distances bacteria away from the epithelial surface thus preventing deeper tissue invasion.

The Business Model


A go-to-market strategy that we believe drives early adoption/market share capture, and creates a number of collaboration

Our experience in building, launching, and scaling medical solutions enables us to use our network to target immediate sales leading up to and following FDA approval.


  • Insurance Support: By demonstrating evidence of cost savings (reduced length of stay, hospital readmissions, mortality, etc.)

  • Top-Down Selling Strategy: We can focus our approach to Health Systems/Hospitals and Surgery Centers on proving reduction in cost burden through decreased case rate of surgical infections.

  • Bottom-Up Education: By approaching surgeons and surgical support staff directly, we can educate providers on Pi-PEG and its ability to fit seamlessly into existing surgical practices/protocols simply by including Pi-PEG drink prescription prior to and after surgery.

How We Are Different


Pi-PEG as a non-antibiotic anti-virulent addresses key unmet needs, leading to higher product adoption rates

Our novel approach is a biologically sustainable strategy that will seamlessly integrate with the current perioperative protocols. Our focus is on infection prevention by collaborating with the gut-microbiome - rather than an antibiotic approach that focuses on killing the bacteria.


While a few new drugs have begun to emerge as potential candidates for treating SSI, AL, Sepsis, we stand alone in our biological proactive evolutionary sustainable approach and formulation.

When compared with the average cost of SSI, AL, and Sepsis treatments, Covira’s Pi-PEG has the potential to save hospitals & other surgery providers millions of dollars each year.


Here are the specs behind that estimation:

  • Cost a hospital on average $39k per SSI ($176k per GI SSI “Anastomotic Leak”). 

  • Total US cost burden for SSI/AL and Sepsis is >$34B per year.

  • Cost for Pi-PEG is <$700 per patient 


The Vision


To be a trusted and acknowledged leader in reducing post-surgical infections

Our mission is to discover, develop and bring to market safe and novel therapeutic options that can preserve the health benefits of a patient’s gut-microbiome yet prevent infection-related post-operative complications.


We strive to serve patients by transforming the promise of science into innovative treatments which have the power to improve health and save lives.


Covira’s Platform Technology (Pi-PEG) has the potential to be used for multiple infection-related complications including:


Local Applications (Future) 

Pi-PEG can be developed for local application at the anastomotic site via novel delivery methods or as a “biologic bandage” to protect against SSIs 


Coating of Prosthetic Materials (Future) 

Surgical prosthetic materials, mesh hernia grafts, aortic replacement grafts and breast implants can also be coated with Pi-PEG to prevent infection 


OUR LEADERSHIP


Proven Business Leadership Experience and Strong Scientific Expertise, combined with Industry-Leading Key Partners

Peter Farmakis is a CEO with proven life sciences business and leadership successes from two fortune 100 companies (J&J and Abbott), and four prior startup experiences including two in the biotech space.

Dr. John Alverdy, Founder & Chief Scientific Officer is a preeminent surgeon-scientist and world leader in surgical infection research with a focus on the molecular basis of surgical infections and the gut microbiome. As a practicing gastrointestinal surgeon with over 225 peer-reviewed publications, Dr. Alverdy is the Sarah and Harold Lincoln Thompson Professor of Surgery and the Executive vice-chair of surgery at the University of Chicago.

Why Invest



  • Market Opportunity: Covira’s peak year revenues are projected to hit $2.5B by 2037 in the US. Given the lack of alternative treatment options, infection prevention, and increasing antibiotic resistance continue to be concerning global public health issues. Post-operative infections cost the US healthcare system over $34B each year. The US total available market for Covira’s (Pi-PEG) top three prioritized indications (SSI, AL, Sepsis) is projected to reach $8.8B by 2037 with a peak year blended market share capture of 26.8% (projected $2.5B by 2037). 


  • Technology Platform: Pi-PEG is a novel agent delivered to potential sites of infection that suppresses bacterial virulence while preserving the health-promoting function of the microbiome. Lead candidate is an orally administered anti-virulence agent to prevent postoperative infections and their progression to sepsis.


  • Management Team: Founder that is a preeminent surgeon-scientist and world leader in GI surgical infection research (molecular basis of surgical infections and the gut microbiome), CEO with proven life science business and leadership successes from two fortune 100 companies (J&J and Abbott), and four prior startup experiences including two in the biotech space.

THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY.  THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.  INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

Quick Insert

In the Press

Expert Scape

Expertise in Anastomotic Leak: Worldwide

Business Worldwide

20 Most innovative Companies to Watch Awards, 2021

CISION

Covira Surgical Named by Business Worldwide Magazine Among Top 20 Most Innovative Companies to Watch, 2021

Offering Summary


Company

:

Covira Surgical, Inc.

Corporate Address

:

3333 Green Bay Road Office L-404, North Chicago, IL 60064

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,070,000.00

Minimum Investment Amount

(per investor)

:

$250.00











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

10,000

Maximum Number of Shares Offered

:

1,070,000

Price per Share

:

$1.00

Pre-Money Valuation

:

$9,987,500.00











Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

Time-Based:

Lead Investors

Invest within the 1st week and receive 20% bonus shares.

Friends and Family Early Birds

Invest within the 2nd week and receive 15% bonus shares.

Super Early Bird Bonus

Invest within the 3rd week and receive 10% bonus shares.

Early Bird Bonus

Invest within the 4th week and receive 5% bonus shares.

 

Amount-Based:

$1,000+ | Tier 1

Invest $1,000+, you will receive 5% bonus shares.

$5,000+ | Tier 2

Invest $5,000+, you will receive 10% bonus shares.

$10,000 | Tier 3

Invest $10,000+, you will receive 15% bonus shares.

$25,000 | Tier 4

Invest $25,000+, you will receive 20% bonus shares.

$100,000 | Tier 5

Invest $100,000+, you will receive 25% bonus shares.

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

**All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

Covira Surgical, Inc., will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.00 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $100. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments. Salary payments made to one’s self, a friend or relative.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$118,858.00 USD
$4,132.00 USD
Cash And Cash Equivalents
$118,858.00 USD
$4,132.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$212,017.00 USD
$58,841.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$38,932.00 USD
-$52,678.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

$1,000,000 Milestone Achieved

23 days ago

Invest Now...Closing in 3 hours!

25 days ago

$978,199 Raised

Opportunity Closing in 3 hours

$950,000 Milestone Achieved (7 Hours Left)

25 days ago

Covira's Investment Opportunity is Closing in 7 Hours!

If you are interested to make an investment now is the time...

Two Major Milestones Achieved (Investment Opportunity Closes in 10 Hours)

25 days ago

$900,000 Raised 

500 Investors

Last Day To Invest (16 hours Left)

25 days ago

We are very close to hitting two milestones 1. 500 Investors (currently at 495), and 2. $900,000 Raised on StartEngine (currently at $866,435). 

Thank you from CEO (Closing in 1 day)

26 days ago

Dear Investors and Followers,

Because of you and your referrals, earlier today we achieved our 1H 2022 goal to raise $1,0M. To date we closed $835,508 via the StartEngine Reg CF Offering and we secured an additional $200,000 from the COVID-19 Economic Injury Disaster Loan, totaling $1.035M.

Tomorrow is the last day to invest. If you have not completed your investment yet, please do so ASAP. If you know of someone that may be interested, please share the Covira investment opportunity with your contact(s).

Thank you for your trust and confidence...I am very happy to have you as part of the Covira Investment Community!


Kind Regards,

Peter Farmakis, CEO  

$800,000 Milestone Achieved

26 days ago

Covira Achieves 1H 2022 Goal to Raise $1.0M


Capital Raised to Date 100% to Goal

$808k  Raised from the current $1.0M Seed Round via Reg CF Offering on StartEngine (1 days remaining, scheduled to close April 27th)

$200k  Raised from the COVID-19 Economic Injury Disaster Loan (Jan 2022)

$1.0M  Total Capital Raised 



$700,000 Milestone Achieved

26 days ago

Update on Covira's 1H 2022 Goal to Raise $1.0M of Capital


Capital Raised to Date 90% to Goal, Projected to be 110% to Goal

$705k  Raised from the current $1.0M Seed Round via Reg CF Offering on StartEngine (2 days remaining, scheduled to close April 27th)

$200k  Raised from the COVID-19 Economic Injury Disaster Loan (Jan 2022)

$210k  Projection based on verbal expressions of interest/commitments received 

$1.1M  Total Capital Projected to be Raised 



Invest Now - Closing in 2 days!

27 days ago

To See Covira's Investment Opportunity go to StartEngine and filter on 

1. "In Progress" 

2. "Biotechnology" or "Pharmaceutical" or "Health Tech"

3. "Most Funded"

See Screen Shots Below...



Due Diligence Completed - Read Executive Summary

28 days ago

Reminder: Covira Investment Opportunity Closes in 3-days

Over the last 6+ months Covira has been working Keiretsu Forum's Midwest Chapter to complete Due Diligence. The Due Diligence Final Report (74 pages) has been completed, please see below Executive Summary.

Keiretsu Forum is a global investment community of accredited private equity angel investors, venture capitalists and corporate/institutional investors. Keiretsu Forum was founded in the San Francisco East Bay in California in 2000 by Randy Williams. Keiretsu Forum is a worldwide network of capital, resources and deal flow with 52 chapters on 3 continents. Keiretsu Forum members invest in high-quality, diverse investment opportunities. The community is strengthened through its involvement in social and charitable activities.

Executive Summary of Due Diligence Findings and Deal Terms

March 2022 | Compiled by Patrick Hennessey, MD

Executive Summary:  

Covira Surgical was founded in 2018 to translate Dr. John Alverdy’s research on the interplay between the human microbiome and infection into a clinically viable product to prevent gut derived bacterial infections.  Dr. Alverdy is a gastrointestinal surgeon and the Sarah and Harold Lincoln Thompson Professor and Executive Vice Chair of the Department of Surgery at the University of Chicago. In addition to his clinical work, he runs world renowned laboratory that studies the molecular interactions of bacteria and the intestinal mucosa in order to understand how life-threatening infections arise as a consequence of trauma, major surgery, and critical illness.  

Dr. Alverdy discovered that certain bacteria in a patient’s intestines, when starved of the vital nutrient phosphorus, respond by expressing virulence genes that increase the chance these bacteria will cause an infection. This insight led Dr. Alverdy to study whether supplying phosphate to the gut could prevent infections in postoperative patients. After determining that standard forms of phosphate repletion could not deliver a sustained level of phosphate to the gut, he and his team at The University of Chicago developed a proprietary, patented compound, CS-0003 for this purpose. This unique drug acts as a sustained source of phosphate to prevent bacterial expression of hypophosphatemia-induced virulence genes, while also acting as a mechanical barrier to prevent bacterial translocation across the gut mucosa.

Covira is focused on entering the FDA approval process for CS-0003 with the goal of gaining approval for the treatment of anastomotic leak (AL), a devastating complication of bowel surgery that results in significant patient morbidity, increased risk of death, increased length of hospital stay, and a high cost burden on the healthcare system.  Despite decades of research and development of new antiseptic and surgical techniques, the rate of AL has remained stubbornly high, even when surgery is performed by highly experienced surgeons at top performing medical centers.  There is a clear need for new tools to prevent AL, and Covira intends for CS-0003 to be the solution to this daunting problem.  Although Covira is primarily focused on gaining FDA approval for treatment of AL, they have also identified surgical site infection (SSI), and sepsis prophylaxis as additional prioritized indications for CS-0003, as well as the potential for strategic partnerships to impregnate CS-0003 into wound dressings and medical devices. 

Key Due Diligence Team Participants (the “Team”):  

  • Patrick Hennessey - Coordinator/Lead, Marketing/Competition, and Site Visit
  • Adam Elhofy - Finance 
  • Valerie (Val) Adegbite-Calloway - Science/Technology
  • Park Burrets - Reference Checks

Documentation Checklist:  

A review of the primary corporate documents and contracts and deal documents was conducted by Wood & Lamping LLP, and is detailed in this report entitled “Review of Corporate and Deal Documents.” The documents reviewed are listed in the checklist included.


 

Covira Investment Opportunity Closing in 5 Days

30 days ago

Update on Covira's 1H 2022 Goal to Raise $1.0M of Capital.

This capital will allow us to begin the development of CS-0003 (our proprietary Pi-PEG) via continuous flow, and to use the CS-0003 product produced to complete the required Investigational New Drug (IND) enabling studies, so that we can submit our IND application to the FDA. 


Capital Raised to Date 88% to Goal, Projected to be 109% to Goal

$684k  Raised from the current $1.0M Seed Round via Reg CF Offering on StartEngine (5 days remaining, scheduled to close April 27th

$200k  Raised from the COVID-19 Economic Injury Disaster Loan (Jan 2022)

$210k  Projection based on verbal expressions of interest/commitments received 

$1.09M  Total Capital Projected to be Raised 


Covira in the News

about 1 month ago

GOING WITH A GUT FEELING

By Lake County Partners, Date: April 19, 2022


click the link below to read the full article...

https://www.lakecountypartners.com/going-with-a-gut-feeling/


THE CASE OF COVIRA

Covira is a biotech company spun out from the University of Chicago that develops drugs to modulate the gut microbiome. Its lead asset is focused on the prevention of post-surgical infections. Covira is productively using its time at Helix 51 to prepare for its next capital raise of $15 million needed to complete Phase 1 and Phase 2 of human clinical trials. The company projects that the FDA approval process could take 4 – 5 years to complete.

“We are really at the cutting-edge of microbiome research, and our work stands to prevent both the incidence and progression of post-surgical infection and its subsequent development of disability and mortality. Our team is led by Dr. John Alverdy, MD, a world authority in this field whose knowledge led us to be named one of the top twenty most innovative companies by Business Worldwide Magazine,” said Covira Surgical CEO Peter Farmakis. “We chose Helix 51 because we know that Lake County is the heart of the nation’s life science corridor. Here, we will be able to find the additional talent and investors that we need to successfully achieve Covira’s growth objectives.”

...to read the full article click the link below

https://www.lakecountypartners.com/going-with-a-gut-feeling/

Covira Achieves 4 Milestones In April - Invest Opportunity Closing in 9-Days

about 1 month ago

1. Covira Signs Agreement with Contract Development Manufacturing Organization (CDMO) Bright Path Labs to Produce lead their asset CS-0003. (April 2022)

2. Covira establishes an impressive Business Advisory Board, the first members include biotech industry leaders Jeff Schaffnit and Jason Slotnik. (April 2022)

3. Covira’s Founder & Chief Scientific Officer (Dr. John Alverdy) presents abstract titled "A Novel Non-Antibiotic Gut-Directed Strategy to Prevent Surgical Site Infections" at the American Surgical Association's 142nd Annual Meeting. (April 2022)

4. Covira submits $2.3M STTR Fast-Track application “A novel, non-antibiotic, microbiome-directed agent to prevent post-surgical infection” to the NIH SEED Fund. (April 2022)


*To See Additional Milestones Achieved visit Covira's website "News & Events"


Reminder Investment Opportunity Closes 27th

Invest Now - Opportunity Closing Soon

about 1 month ago

Covira is a biotech company, a spinout from The University of Chicago, developing drugs that work by modulating the biological activity of the gut microbiome. This microbiome-focused company is based on the work of Dr. John Alverdy, MD, a world authority on the molecular basis of post-surgical infections. Covira’s platform technology that generated a lead asset (CS-0003) that modulates bacterial virulence and restores microbial communities to prevent post-surgical infection. Covira's approach is transformative to the field and the world is taking notice...Business Worldwide Magazine named Covira Among the 2021- Top 20 Most Innovative Companies to Watch.

REMINDER: Covira Live Q&A Session (April 14th at 1:00pm CST)

about 1 month ago

Live Q&A Session

Join Dr. John Alverdy, Founder & Chief Scientific Officer and Peter Farmakis, CEO for Covira during the upcoming Live Question & Answer Session April 14th at 1:00pm CST Opt In Here to attend.

Covira Live Q&A Session (April 14th at 1:00pm)

about 1 month ago

Live Q&A Session

Join Dr. John Alverdy, Founder & Chief Scientific Officer and Peter Farmakis, CEO for Covira during the upcoming Live Question & Answer Session April 14th at 1:00pm CST Opt In Here to attend. 

Progress Update | Opportunity Ends Soon

about 1 month ago

One of Covira's 1H 2022 Goals is to Raise $1.0M of Capital.

This capital will allow us to begin the development of CS-0003 (our proprietary Pi-PEG) via continuous flow, and to use the CS-0003 product produced to complete the required Investigational New Drug (IND) enabling studies, so that we can submit our IND application to the FDA. The next step will be Phase 1 first in human trials.

 

Capital Raised to Date 87% to Goal

$666k  Raised from the current $1.0M Seed Round via Reg CF Offering on StartEngine (17 days remaining, scheduled to close April 27th) 

$200k  Raised from the COVID-19 Economic Injury Disaster Loan (Jan 2022)

$866k  Total Capital Raised 



Covira to Present at the American Surgical Association Annual Meeting

about 1 month ago

Dr. John Alverdy, Founder & Chief Scientific Officer (Covira) will be presenting abstract titled "A Novel Non-Antibiotic Gut-Directed Strategy to Prevent Surgical Site Infections" at the ASA's 142nd Annual Meeting, April 7-9, 2022, Chicago, IL


Twitter...

https://twitter.com/JBMatthews/status/1512153659274051588?s=20&t=YvXosJCbiV6Q7CJ_8cnmFw 

https://twitter.com/uchicagosurgres/status/1512163778170925059?s=20&t=YvXosJCbiV6Q7CJ_8cnmFw

Covira Signs Agreement with Contract Development Manufacturing Organization Bright Path Labs to Produce CS-0003 (ABA-PEG20k-Pi20)

about 2 months ago

Contract Development Manufacturing Organization (CDMO)

Bright Path Labs (BPL) uses a revolutionary and patented AI-powered continuous-flow manufacturing technology to make and scale molecules faster, more efficiently, and less expensively than traditional batch techniques. BPL's STT® continuous-flow reactor and platform drives rapid synthetic route development and highly automated, controlled, and inexpensive deployment of scaled cGMP commercial manufacturing.

The Agreement

The objectives of the agreement are to optimize the chemical synthetic route to CS-0003 (ABA-PEG20k-Pi20) by translating the present five-step batch process, into one that is continuous flow. The proposal provides the BPL approach to full synthetic pathway selection, process development, and optimization.


*REMINDER - just 20 days left to invest

Covira Progress Report - 24 Days Remaining

about 2 months ago

One of Covira's 1H 2022 Goals is to Raise $1.0M of Capital. The capital raised will fund the continuous-flow manufacturing development of CS-0003 (our proprietary Pi-PEG). Covira will use this product produced to complete the Investigational New Drug (IND) enabling studies required to submit the IND application to the FDA. 

Capital Raised to Date 83% to Goal

$634k  Raised from the current $1.0M Seed Round via Reg CF Offering on StartEngine (24 days Remaining) 

$200k  Raised from the COVID-19 Economic Injury Disaster Loan (Jan 2022)

$834k  Total Capital Raised (83%) 


Kind Regards,

Peter Farmakis, CEO Covira

Covira submits $2.3M STTR Fast-Track application

about 2 months ago

Covira submits $2.3M STTR Fast-Track application “A novel, non-antibiotic, microbiome-directed agent to prevent post-surgical infection” to the NIH SEED Fund. This 133 page grant application (see table of contents below) was submitted today on 4.2.22. A special thank you to all of Covira's team member's, Covira's business partners, and our consulting partner Dana from Eva Garland Consulting for all your efforts over the last 3-months to pull together this extremely impressive proposal.  

The NIH Fast-Track application process expedites award decisions and funding of SBIR and STTR Phase II applications for scientifically meritorious projects that have a high potential for commercialization. 

*If awarded this $2.3M will be incremental non-dilutive funding - meaning this funding would not dilute Covira's investors. 


Covira's Investment Opportunity (30-Day Notice)

about 2 months ago

The momentum is building as Covira continues to achieve milestones, see below some of Covira's Q1 (QTD) highlights...

  • Covira closes more than $500,000 (50%) of their current $1.0M Seed Offering - this is Covira’s first dilutive funding effort and this offering is scheduled to close by April 27, 2022. (March 2022)
  • Covira Surgical establishes an impressive Scientific Advisory Board…members include Amelia Bartholomew, MD, MPH, FACS, Eugene Chang, MD, FACP, Neil Hyman, MD FACS, FASCRS, Eric Pamer, MD, FACP and Matthew Tirrell, PhD. (Feb 2022)
  • Covira Surgical appoints former Abbott Laboratories Executive Officer and Global Diversified Life Science Leader Jaime Contreras to serve on Covira’s Board of Directors. (Jan 2022)
  • Covira signs consulting agreement with Eva Garland Consulting and kicks-off project to complete NIH-SEED Fund application for STTR Fast-Track grant opportunity. (Jan 2022)
  • Covira closes $200,000 COVID-19 Economic Injury Disaster Loan from the US Small Business Administration, payments are deferred for the first 2 years. (Jan 2022) 


Notice of Funds Disbursement

about 2 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Covira Surgical (Biotech) has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Covira Surgical (Biotech) be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Covira Announces the Achievement of 2 New Milestones ($600k and Largest Month)

2 months ago

Investors & Followers - Covira achieve's two new milestones as the total capital raised for the $1.0M Seed Round (here on StartEngine) continues to accelerate! Last week Covira's fundraising campaign achieved a new milestone exceeding $600,000 (total capital raised).  On March 20th, Covira achieved a second milestone as March became the largest month (total monthly dollars invested). Reminder...only 38-days remaining to complete your investment in Covira (ends on April 27th). 


 

Covira's Capital Raise Continues To Accelerate (40 Days Remaining)

2 months ago

Dear Investors & Followers - Covira's capital raise continues to accelerate, as you can see from the graph below. March (MTD) is already the second largest month (total monthly dollars invested), and March is on track to be the largest month of this offering. 

Why is this? The primary reason for the continued acceleration is that our investors are making larger investments - taking advantage of the larger investment bonus share rewards.

We now have 422 Investors and a total of 843 Investors+Followers following our $1.0M Capital Raise here on StartEngine (reminder after raising $8.1M of non-dilutive funding, this $1.0M offering is Covira's first dilutive funding effort). 

*If you are considering an investment or a second/third investment in Covira, now is the time (40-days remaining).



Kind Regards,

Peter Farmakis, CEO Covira

Important Updates (including 45-day notice) from Covira's CEO

2 months ago

To Covira's Investors & Followers,

The opportunity to invest in Covira is closing in 45 days. To date Covira Surgical (Biotech) has raised $542,763. Covira's investment opportunity will be getting a lot of additional attention over the next 6-weeks, please see important updates below...

  • March 22-24th Covira will be attending "Redefining Early Stage Investments (RESI) Digital RESI - Connecting Early Stage Products with Capital & Channel Partners"
    • Life science and healthcare fundraising CEOs gain access to investors and strategic partners actively seeking opportunities that match their product set and stage of development through a match-based partnering system, pitch session opportunities, and industry expert panels.
  • April 7th Dr. John Alverdy, Founder & Chief Scientific Officer (Covira) will be presenting at the American Surgical Association's (The oldest surgical association in the United States) - 142nd Annual Meetingin Chicago, IL.
  • The opportunity to invest in Covira via the $1.07M Reg CF Offering on StartEngine is scheduled to close by April 27th
    • Please note once the Offering Max of $1.07M is achieved Covira can no longer accept investment 
  • This month Keiretsu Forum Midwest will be completing their due diligence final report regarding the Covira Surgical (Biotech) investment opportunity (see screen shot below "Contents"). This final report will be provided to the Angel Investors/Members of Keiretsu. Keiretsu Form Midwest is a part of Keiretsu Forum which includes 50+ chapters and over 3,000 angel investors on FOUR continents. *A special thank you to the Team from Keiretsu and Scott Hales (Covira) who put in significant time and effort to complete this due diligence effort and final report.  
    • Key Due Diligence Team Participants (the “Team”):
    • A review of the primary corporate documents and contracts and deal documents was conducted by Wood & Lamping LLP, and is detailed in this report entitled “Review of Corporate and Deal Documents.” The documents reviewed are listed in the checklist included.


Kind Regards,

Peter Farmakis, CEO Covira Surgical (Biotech)

400th Investor Milestone

3 months ago

$500,000 Milestone

3 months ago

After raising $8.1M of non-dilutive funding, we (Covira) launched our first dilutive funding effort via a $1.0M Pre-Seed Reg CF Offering here on StartEngine. This investment opportunity (for friends, family and person contacts) is more than 50% funded and will be closing on or before April 27th. Over the next 60-days (March-April) we will be actively engaging the larger institutional investors regarding Covira’s investment opportunity.

To purchase shares of Covira at $1.00 per share, see steps below.

1. Click here; https://www.startengine.com/covira-surgical 
2. Then click on invest now (green rectangle box)
3. That will take you to the form to complete, should take 5-10 minutes to complete

*To note there are additional bonus incentive shares for larger investment amounts, as an example…

- If you invest $5,000, you receive an additional 10% bonus shares = 5,500 shares, each share is $1.00 with bonus shares your post investment value is $5,500
- If you invest $10,000, you receive an additional 15% bonus shares = 11,500 shares, each share is $1.00 with bonus shares your post investment value is $11,500
- If you invest $25,000, you receive an additional 20% bonus shares = 30,000 shares, each share is $1.00 with bonus shares your post investment value is $30,000

Notice of Material Change in Offering

3 months ago

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Covira Surgical (Biotech) offering. Here's an excerpt describing the specifics of the change:


Campaign has extended offering by 60 days


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

Update from Covira's CEO

3 months ago

Dear Investors & Followers 

Hopefully you have been receiving all the Covira Surgical (Biotech) updates here on StartEngine. The main objective of these communications is to share with you our progress/the milestones Covira is achieving as we translate our teams world-leading scientific research into product solutions to prevent post-surgical infections. Hopefully you received our last update (we shared with you first) -announcing Covira’s new and impressive Scientific Advisory Board. As part of this update, we wanted to share that our first offering investment opportunity ($1.0M Pre-Seed Round Reg CF offering) here via StartEngine. To note: Covira will be actively engaging the larger institutional investors regarding Covira’s investment opportunity starting in March. Thus, if you are interested to participate in Covira’s investment opportunity, please do so now (this month), prior to our efforts next month to engage the Family Offices, Angel Investors and Biotech Venture Capitalists.  

To purchase shares of Covira at $1.00 per share, see steps below.

  1. Click here; https://www.startengine.com/covira-surgical 
  2. Then click on invest now (green rectangle box)
  3. That will take you to the form to complete, should take 5-10 minutes to complete

*To note there are additional bonus incentive shares for larger investment amounts, as an example…

  • If you invest $5,000, you receive an additional 10% bonus shares = 5,500 shares, each share is $1.00 with bonus shares your post investment value is $5,500
  • If you invest $10,000, you receive an additional 15% bonus shares = 11,500 shares, each share is $1.00 with bonus shares your post investment value is $11,500
  • If you invest $25,000, you receive an additional 20% bonus shares = 30,000 shares, each share is $1.00 with bonus shares your post investment value is $30,000

I appreciate your investment consideration…please let me know if you have any questions.

I look forward to our next opportunity to connect.


Peter Farmakis, CEO Covira Surgical 

Covira Surgical (Biotech) establishes an impressive Scientific Advisory Board

3 months ago

Covira Surgical establishes an impressive Scientific Advisory Board

...members include Amelia Bartholomew, MD, MPH, FACSEugene Chang, MD, FACPNeil Hyman, MD FACS, FACRSEric Pamer, MD, FACP and Matthew Tirrell, PhD.



Notice of Funds Disbursement

3 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Covira Surgical (Biotech) has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Covira Surgical (Biotech) be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Covira Achieves Milestones and Adds Life Science Industry Leaders & Key Partners

3 months ago

Dear Investors & Followers,

January was a busy month for Covira Surgical. A month where Covira achieved a number of important milestones and added significant industry experience and expertise to the Covira Surgical Team. I am very pleased to make the following announcements and to welcome our new team members and key partners.

- Covira Surgical appoints former Abbott Laboratories Executive Officer and Global Diversified Life Science Leader Jaime Contreras to serve on Covira's Board of Directors.

- Covira signs consulting agreement with Sharon Ayd of Advarra to serve as Covira’s Chief Regulatory Officer - Sharon is the Vice President of Advarra’s Regulatory Center of Excellence.

- Covira signs consulting agreement with Eva Garland Consulting and kicks-off project to complete NIH-SEED Fund application for an incremental non-dilutive STTR Fast-Track grant opportunity.

- Covira closes $200,000 COVID-19 Economic Injury Disaster Loan from the US Small Business Administration, payments are deferred for the first 2 years.

- Covira secures over $450,000 of their current $1.0M Pre-Seed Offering - this is Covira’s first dilutive funding effort.

This month (February) we will be wrapping up a 3-month Due Diligence effort with Keiretsu Forum Midwest

If you are considering an investment (or an additional investment) in Covira Surgical, now is the time!


Kind Regards,

Peter Farmakis, CEO 

Notice of Funds Disbursement

4 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Covira Surgical (Biotech) has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Covira Surgical (Biotech) be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Entrepreneur features Covira Surgical

4 months ago

This Drinkable Medication Could Improve Surgical Infection Rates in Hospitals

Covira Surgical's new approach to post-op infection care could help solve a $34 billion-per-year problem...

https://www.entrepreneur.com/article/401618

Covira Surgical Capital Raise (Inside the Numbers)

4 months ago

Covira Surgical Capital Raise

$428,318 Capital Raised to Date


As the Covira Surgical $1.07M Pre-Seed (Reg CF Offering) campaign progresses, we are seeing much larger investments. Based on our internal calculations, we estimate that In Q3 the average investment was $988 and that in Q4 of 2021 the average investment increased 67% up to $1,668 per investment.

Numbers below have been calculated internally by Covira Surgical by pulling from the investor report data.

Covira's Professional Network (friends, family and personal contacts) 

  • $226,767 Capital Raised (53% of Total)
  • Total Investments 53
  • Average Investment $4,279

StartEngine Subscribers + Outside Investors 

  • $201,551 Capital Raised (47% of Total)
  • Total Investments 274  
  • Average Investment $736


Kind Regards,

Peter Farmakis, CEO

Covira Achieves Two Milestones In Seven Days

5 months ago

Covira's Investors and Followers,

Covira laid the foundation for success in 2021, and you helped us to create momentum heading into 2022,,,THANK YOU! Last week, Covira Surgical surpassed the $400,000 capital raise milestone. This week, we welcomed our 300th investor into the Covira Surgical investor family. Given the progress to date, we have extended our $1.07M Pre-Seed (Reg CF Offering) investment opportunity. I share this information to let you know that now is a great time to invest in Covira Surgical!


Why Now? 

Reason 1 - We have created momentum and the world is taking notice, see some of the highlights listed on the Covira Surgical website. See addition news here Google Search "Covira Surgical" - News.

Reason 2 - In the weeks ahead we will be announcing two very important additions to the Covira team. These individuals bring a great deal of global life science leadership experience and strong regulatory expertise in working with the FDA.

Reason 3 - Covira is currently completing due diligence with a large Angel Investment Group. In addition, we are speaking with a number of additional investors (Angel Groups, Group Family Offices, and High Net Worth Individuals) with a goal to complete our $1.07M Pre-Seed (Reg CF Offering) before the end of the campaign.

*If you would like to make an additional investment (Investors) or your first investment (Followers), and/or you would like to share this investment opportunity with your personal contacts...now is the time!


If you have any questions please leave a comment here on our campaign page! I will promptly answer your questions.


Happy New Year,

Peter Farmakis, CEO Covira Surgical

Notice of Material Change in Offering

5 months ago

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Covira Surgical (Biotech) offering. Here's an excerpt describing the specifics of the change:


Issuer is extending offering end date and updating campaign page


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

Notice of Funds Disbursement

5 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Covira Surgical has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Covira Surgical be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

New Milestone 250th Investor

6 months ago

Dr. John Alverdy -- Recognized as an Expertscape World Expert in Sepsis

6 months ago

Expertscape's PubMed-based algorithms place Dr. John Alverdy in the top 0.1% of scholars writing about Sepsis over the past 10 years, a level Expertscape labels as "World Expert."

Thus, as part of Expertscape's regular "Daily Experts" announcements to recognize world experts like Dr. John Alverdy, Expertscape plans to tweet the following on Twitter this Thursday, December 2, 2021 (New York time):

Congratulations to Dr. John C Alverdy of the University of Chicago -- Recognized as an Expertscape World Expert in Sepsis. https://expertscape.com/ex/sepsis/s/us_central


Covira Surgical Named by Business Worldwide Magazine Among Top 20 Most Innovative Companies to Watch, 2021

6 months ago

Check out the Autumn 2021 issue of Business Worldwide Magazine's Cover Story "Covira & the fight to end post-operative infections"

Link to the virtual issue: https://issuu.com/david.j22/docs/202111-001_magazine_businessworldwide_v5_issuu

Our 4-page article is on pages 20-23 




Covira Surgical has been named by Business Worldwide Magazine (BWM) in its list of Top 20 Most Innovative Companies to Watch, 2021. The Chicago based Biotech company has developed an innovative approach using synthetic chemistry to prevent post-surgical infections, placing it among the most disruptive companies in the world...read more

https://finance.yahoo.com/news/covira-surgical-named-business-worldwide-090000691.html

Covira Surgical Named by Business Worldwide Magazine Among Top 20 Most Innovative Companies to Watch, 2021

6 months ago

Covira Surgical has been named by Business Worldwide Magazine (BWM) in its list of Top 20 Most Innovative Companies to Watch, 2021. The Chicago based Biotech company has developed an innovative approach using synthetic chemistry to prevent post-surgical infections, placing it among the most disruptive companies in the world...read more

https://finance.yahoo.com/news/covira-surgical-named-business-worldwide-090000691.html


Notice of Funds Disbursement

6 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Covira Surgical has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Covira Surgical be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Covira Passes $300,000 Capital Raise Milestone

6 months ago


Hospitals Safety Grades Include Measures That Are Aligned With Covira's Focus

6 months ago

Hospital Safety Grades Show Significant Variation

"The Fall 2021 report was based on 22 measures, and marks the first-time inclusion of post-operative sepsis..."

"The 10 outcome measures that factored into the safety grades were...surgical-site infections from colon surgery...Patient Safety Indicator 4 (death rate among surgical inpatients with serious treatable conditions)..."


https://www.medscape.com/viewarticle/962983?src=soc_lk_share 


$250,000 Milestone

7 months ago

Covira achieved a new capital raise milestone, last week, passing the $250,000 marker


Investors are taking advantage of the larger investment bonus share rewards

Tier 1 Invest $1,000+, you will receive 5% bonus shares

Tier 2 Invest $5,000+, you will receive 10% bonus shares

Tier 3 Invest $10,000+, you will receive 15% bonus shares

Tier 4 Invest $25,000+, you will receive 20% bonus shares

Tier 5 Invest $100,000+, you will receive 25% bonus shares

Who is Covira Surgical? What is Covira's history?

7 months ago

Who is Covira Surgical?

Covira's Current Team (see organizational chart below)


What is Covira's history?

Covira's Milestones (see below)

  1. Covira signs agreement with IQVIA Biotech and begins work to complete and file an Investigational New Drug (IND) application with the FDA. (Oct 2021)
  2. Covira Surgical is selected into the Creative Destruction Lab (CDL) Program at CDL-Toronto as part of their Health Treatments Stream. CDL is a nonprofit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies. (Sept 2021)
  3. Covira begins collaboration with a global medical technology leader to develop a large animal model. (Aug 2021)
  4. Microbiome-Focused Biotech Company Launches Equity Crowdfunding Offering - The Covira Surgical investment opportunity is now available; https://www.startengine.com/covira-surgical (July 2021)
  5. Covira completes target discovery, lead compound identification, optimization, pre-clinical development and proves Pi-PEG’s ability to safely and effectively reduce the risk of Surgical Site Infections, Anastomotic Leak and Sepsis in small animal models. (2021)
  6. Expertise in Anastomotic Leak: Worldwide - J Alverdy equates to the top-rated expert in Anastomotic Leak in the world during the years 2011-2021; https://expertscape.com/ex/anastomotic+leak/p/earth (2021)
  7. Covira completes Fortune 100 Company Research & Development agreement (October 2020)
  8. Covira works with IQVIA Biotech to identify top three prioritized indications (Surgical Site Infection, Anastomotic Leak, Sepsis), forecast peak year sales opportunity ($2.2B), and determine development time and costs to launch all three indications (April 2020)
  9. Covira Surgical hires Chief Executive Officer Peter Farmakis; https://www.linkedin.com/in/peterfarmakis/ (February 2020)
  10. Covira signs a Research & Development agreement with a Fortune 100 Company (April 2019)
  11. The University of Chicago and Covira file patent application for PCT/US19/28748 Materials and Methods of Using an Inhibitor of Plasminogen Activation to Treat Anastomotic Leak (File Date: April 23, 2019)
  12. Covira works with the Pritzker School of Molecular Engineering and Argonne National Laboratory to finalize development and synthesize the proprietary Pi-PEG technology (March 2019)
  13. Covira Surgical , Inc, a spinout from the University of Chicago, is established (September 2018)
  14. Dr. Alverdy and The University of Chicago receive approval for U.S. Patent 9,937,199 Materials and Methods for Preventing and Treating Anastomotic Leaks (Issue Date: April 10, 2018)
  15. Dr. Alverdy and The University of Chicago file patent application for US, EPO, China Phosphorylated tri-block copolymers with anti-microbial properties (File Date: Sept 29, 2017)

200th Investor

7 months ago


Last week Covira reached a new milestone - Covira Surgical now has 200 investors!  -Welcome to the Covira investment community.

Peter Farmakis, CEO Covira Surgical 

Notice of Funds Disbursement

7 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Covira Surgical has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Covira Surgical be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

$200,000 Milestone

8 months ago

Covira achieved a new capital raise milestone, earlier this week, passing the $200,000 marker.

We are starting to see larger investments, investors are taking advantage of the larger investment bonus share rewards (see below).

  • Tier 1 Invest $1,000+, you will receive 5% bonus shares
  • Tier 2 Invest $5,000+, you will receive 10% bonus shares
  • Tier 3 Invest $10,000+, you will receive 15% bonus shares
  • Tier 4 Invest $25,000+, you will receive 20% bonus shares
  • Tier 5 Invest $100,000+, you will receive 25% bonus shares


Appreciate all your contributions and look forward to announcing our next milestone achievement!


Kind Regards,

Peter Farmakis, CEO

Commitment to Excellence with Peter Farmakis, CEO of Covira Surgical - The Athletics Of Business

8 months ago

I recently had the chance to appear on The Athletics Of Business Podcast with Ed Molitor to tell my story! 

Check it out here: https://theathleticsofbusiness.com/podcasts/commitment-to-excellence-with-peter-farmakis/


Covira signs agreement with IQVIA Biotech and begins work to complete and file an Investigational New Drug (IND) application with the FDA

8 months ago

On Sept 30th Covira Surgical and IQVIA Biotech https://www.iqviabiotech.com/ kicked-off the process to complete and file an Investigational New Drug (IND) application with the FDA, estimated time to filing is 14-months (Nov 2022). An IND is a request to obtain authorization from the Food and Drug Administration (FDA) to administer an investigational drug or biological product to humans. 


More Information...

- During a new drug's early preclinical development, the sponsor's primary goal is to determine if the product is reasonably safe for initial use in humans, and if the compound exhibits pharmacological activity that justifies commercial development. When a product is identified as a viable candidate for further development, the sponsor then focuses on collecting the data and information necessary to establish that the product will not expose humans to unreasonable risks when used in limited, early-stage clinical studies.

- FDA's role in the development of a new drug begins when the drug's sponsor (usually the manufacturer or potential marketer), having screened the new molecule for pharmacological activity and acute toxicity potential in animals, wants to test its diagnostic or therapeutic potential in humans.  At that point, the molecule changes in legal status under the Federal Food, Drug, and Cosmetic Act and becomes a new drug subject to specific requirements of the drug regulatory system.

Covira Surgical is selected into the Creative Destruction Lab

8 months ago

On Sept 16, 2021, Covira Surgical was selected into the Creative Destruction Lab (CDL) Program. CDL's program is designed to help increase the probability of success for massively scalable, seed-stage, science-based companies. 

"...Based on your application, interviews, and technical assessment we are pleased to offer you admission to the Creative Destruction Lab Program at CDL-Toronto as part of our Health Treatments Stream."

The Program involves:

  • Mentorship from select entrepreneurs and angel investors: the Fellows and Associates - Intensive full-day sessions with the CDL Mentors (Fellows and Associates) take place every eight weeks with the purpose of assessing progress and setting new short-term objectives.
  • Opportunities to raise capital - Meetings are attended by the Fellows and Associates, a carefully selected group of exited entrepreneurs, angel investors, and partners from leading venture capital firms who often invest in ventures that demonstrate a track record of achieving their objectives.
  • Advice on technology roadmaps from CDL’s Chief Scientists - World-renowned experts from leading academic institutions provide technical feedback to founders and advise the Fellows and Associates on objectives related to technology validation.
  • Business development support from top MBA students - MBA students work with founders to develop financial models, evaluate potential markets, and fine-tune strategies for scaling. The program is designed for early-stage, science-based technology companies, though we consider all applicants based on their potential to scale and the viability of their product.

Notice of Funds Disbursement

8 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Covira Surgical has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Covira Surgical be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Covira Surgical is selected into the Creative Destruction Lab

8 months ago

On Sept 16, 2021, Covira Surgical was selected into the Creative Destruction Lab (CDL) Program. CDL's program is designed to help increase the probability of success for massively scalable, seed-stage, science-based companies. 

"...Based on your application, interviews, and technical assessment we are pleased to offer you admission to the Creative Destruction Lab Program at CDL-Toronto as part of our Health Treatments Stream."

The Program involves:

  • Mentorship from select entrepreneurs and angel investors: the Fellows and Associates - Intensive full-day sessions with the CDL Mentors (Fellows and Associates) take place every eight weeks with the purpose of assessing progress and setting new short-term objectives.
  • Opportunities to raise capital - Meetings are attended by the Fellows and Associates, a carefully selected group of exited entrepreneurs, angel investors, and partners from leading venture capital firms who often invest in ventures that demonstrate a track record of achieving their objectives.
  • Advice on technology roadmaps from CDL’s Chief Scientists - World-renowned experts from leading academic institutions provide technical feedback to founders and advise the Fellows and Associates on objectives related to technology validation.
  • Business development support from top MBA students - MBA students work with founders to develop financial models, evaluate potential markets, and fine-tune strategies for scaling. The program is designed for early-stage, science-based technology companies, though we consider all applicants based on their potential to scale and the viability of their product.

More People Will Die of Sepsis Than Cancer and Heart Attacks by 2050

8 months ago

On Sept 7, 2018, Dr. John Alverdy and The University of Chicago founded Covira Surgical – a biotech company focused on novel therapeutic alternatives to prevent postoperative (surgical) infections. In Feb of 2020, I joined Covira as the Chief Executive Officer, during a time when our work to prevent infections has never been more important. Today, I am sharing additional information to explain why preventing post-surgical infections (surgical site infections) to progress to sepsis - sharing with you another reason why the work we are doing today is so important to our future, see article below.

More People Will Die of Sepsis Than Cancer and Heart Attacks by 2050: Doctors at IHW Council’s 2nd Sepsis Summit

Published on September 16, 2021

https://www.apnnews.com/more-people-will-die-of-sepsis-than-cancer-and-heart-attacks-by-2050-doctors-at-ihw-councils-2nd-sepsis-summit/ 


Kind Regards,

Peter Farmakis, CEO Covira Surgical

Sepsis affects 1.7M people and claims approximately 270,000 lives every year in the US

9 months ago

"...Sepsis affects 1.7 million people and claims approximately 270,000 lives every year in the United States, according to the Sepsis Alliance..."


Health Matters 9/10: September is Sepsis Awareness Month

https://centraljersey.com/2021/09/06/health-matters-9-10-september-is-sepsis-awareness-month/


Despite advances in infection control practices, postoperative infections (Surgical Site Infections, Anastomotic Leak) remain a substantial cause of prolonged hospitalization, readmissions, morbidity and can lead to life threatening sepsis death.

9 months ago

Despite ever more powerful and broader antibiotics, and ever more creative ways to maintain sterility during surgery, postoperative infections (i.e Surgical Site Infections- SSIs) remain a real and present danger to patients and manifest as wound infections, anastomotic leaks and deep organ space infections (i.e those body cavities that are invaded during surgery). Maintaining the diversity, stability and function of the patient’s own microbiome over the course of surgery and recovery is now emerging as a key element to prevent SSIs. Apart from conventional approaches to administer probiotics, fecal transplants and other means of replacing the lost microbiome from the inevitable processes of surgery (i.e overnight starvation, antibiotics, blood loss, physiologic stress), Covira surgical has developed a proprietary compound, Pi-PEG that preserves the diversity and function of the patients own native microbiome throughout the course of the surgery so it can stimulate your immune system, ward off transient pathogens and provide one’s own microbiome with a competitive advantage against renegade pathogens seeking to infect and harm.

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In elective surgery, although all patients are treated with standard asepsis protocols including chlorhexidine bathing the night before, skin decontamination with alcohol and iodine, ever escalating methods of operative field sterility such as skin barriers, double gloving, etc., serious postoperative infections still occur and represent a clear and present danger to patients. In fact, today, 50% of the bacteria cultured from a surgical site infection have been shown to be resistant to the antibiotics chosen for prophylaxis. These sobering statistics suggest that any further reduction in the incidence of SSIs toward zero will require methods beyond more sterility and application of broader and more powerful antibiotics. 

Decades of research from the Alverdy lab has demonstrated that most surgical site infections, including wound infections, anastomotic leaks and the sepsis that can subsequently occur, do NOT develop as a result of direct intra-operative contamination of an otherwise sterile wound, but rather develop when  pathogens hidden in the gastrointestinal track are taken up by immune cells and silently find their way the operative site to cause infection. This revealed mechanism begs an “out of the box” solution beyond applying greater levels of sterility and broader antibiotic coverage, both of which are a cause of the current crisis of antibiotic resistance. Covira Surgical has figured a way to collaborate with the gut microbiome so that intestinal bacteria are molecularly silenced and do not express the virulence factors needed to be taken up by immune cells and are shielded away from the epithelial surface where such immune cells reside. This approach prevents both the indirect contamination mechanism of SSIs as well as direct contamination such as when an anastomotic wound is present. By bonding phosphate, a key nutrient that bacteria need to grow and reproduce that becomes depleted following surgical stress, to a high molecular weight PEG molecule that electrostatically shields bacteria away from the epithelial surface, Covira's proprietary Pi-PEG is a novel non-antibiotic containment strategy that collaborates with the microbiome to prevent it members from causing SSIs. It durably embeds and coats the entire GI track with an abundant amount of Pi during the course of extreme physiologic stress (i.e surgery) such that the health promoting bacteria are able to grow and reproduce, competitively exclude the overgrowth, acquisition or dissemination of virulent pathogens and thus contain any untoward effect of gut pathogens that might increase the incidence of SSIs.  

Dr. John Alverdy, Founder & Chief Scientific Officer, Covira Surgical 

Covira begins collaboration with a global medical technology leader to develop a large animal model

9 months ago

Covira will develop the world’s first large animal model of spontaneous development of a clinically relevant anastomotic leak following construction of a technically acceptable and intact anastomosis created by the standard use of a commercial EEA stapler from a leading manufacturer.  The process will involve feeding animals a western diet, exposing them to antibiotics and direct inoculation of the anastomotic wound to bacteria known to produce spontaneous anastomotic leak in mice. The bacteria used in this model are those that are those most prevalent at sites of anastomotic leak in humans.

Pi-PEG will be a complementary add-on as a biologically active “reinforcement material” that we will prove prevents anastomotic leaks in pigs following a low colorectal EEA anastomosis that is properly performed and technically well-constructed. This process will require that pigs consume a special diet, are exposed to the pathogens that cause anastomotic leak and development of the model and proper control groups to prove the point.


Notice of Funds Disbursement

9 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Covira Surgical has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Covira Surgical be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

150th Investor

9 months ago

Since going live on StartEngine, Covira has been averaging nearly 25 new investors per week. Today (August 17th) Covira reached a new milestone - Covira Surgical now has 150 investors!  -Welcome to the Covira investment community.

Peter Farmakis, CEO Covira Surgical 

After $7.7M of non-dilutive funding, Why did Covira choose a Reg CF offering...

9 months ago
After $7.7M of non-dilutive funding, Why did Covira choose a Reg CF offering and StartEngine for their first dilutive funding?


10 REASONS WHY

  1. $5.0 Reg Cf (Seed Round): Newly amended SEC rules raised the Reg CF offering limit to $5.0 million (from $1.07 million).
  2. Friends & Family: gives our personal contacts the opportunity to invest in Covira.
  3. Remain in Control: Control can be maintained and dilution minimized throughout a market valuation strategically determined by management. Uniform subscription agreement, with voting proxies (in the case of common stock, for instance) case by CEO. Flexibility in designing security features.
  4. Minimal Fundraising Limitations: An ‘institutional’ capital raise process can occur simultaneously with a Reg CF offering.
  5. Credibility & Confidence: Rapidly growing ‘retail’ investor base with the addition of non-accredited investors. Diligence and disclosures confer credibility in both platform issuer.
  6. $75M Series A: Reg CF offering provides natural transitions to larger, follow-on offerings (e.g., Reg A) and public company readiness.
  7. One Investor on Cap Table Option: Straightforward cap table treatment (single group of investors).
  8. Secondary Trading Platform: Liquidity opportunities expanding as secondary trading platforms develop.
  9. Fees: Somewhat reasonable fees and costs.
  10. Time is Right: Infection prevention is top of mind for all of us given the global pandemic.

Covira's Dr. John Alverdy, Founder & CSO is recognized as the top-rated expert in Anastomotic Leak in the world

10 months ago

Expertise in Anastomotic Leak: Worldwide

Based on 4,352 eligible articles published since 2011

In each column, black bars show the relative amount of expertise for each place or person. Longer is better. For example, J Alverdy equates to the top-rated expert in Anastomotic Leak in the world during the years 2011-2021.

https://expertscape.com/ex/anastomotic+leak/p/earth 

Science 30 Jul 2021: Vol. 373, Issue 6554, pp. 471

10 months ago

The post-antibiotic era is here

https://science.sciencemag.org/content/373/6554/471 

"Imagine a world where routine surgery or chemotherapy is considered too dangerous because there are no drugs to prevent or treat bacterial infections.."

"...We need new pharmaceutical targets to combat microbial virulence, new methods to inhibit the genetic transfer of antibiotic resistance between bacteria, new drugs that bolster host immunity against AMR, and microbiota-based therapies..."



Covira First Offering Update (July 2021)

10 months ago

Earlier this month we made the announcement...

"Microbiome-Focused Biotech Company Launches Equity CF Offering - The Covira Surgical investment opportunity is now live on StartEngine!"

Today, I am reaching out to thank you, our early investors, and let you know that our investment offering is progressing as planned. Covira has been averaging 32 investors per week, totaling 128 new investors month-to-date.

Next week we are expanding beyond our first offering, to pursue larger investments from Family Offices, Angel Groups, Institutional Investors, and Venture Capital Firms that have an investment thesis that focuses on seed investments into biotech companies. 

We appreciate all questions and welcome any feedback and/or referrals you have regarding our investment opportunity!


Peter Farmakis, CEO Covira Surgical

100th Investor

10 months ago

Since going live on StartEngine, Covira has been averaging nearly 5 new investors per day. On July 20th Covira reached a new milestone - Covira Surgical now has 100 investors!

Notice of Funds Disbursement

10 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Covira Surgical has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Covira Surgical be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

$100,000 Milestone

10 months ago

Covira Surgical ‘s early investors combine to exceed $100k milestone!

  • June 29th (soft launch) - Covira’s Equity CF offering goes live on StartEngine, email announcement sent to friends and family contacts 
  • July 10th (full launch) - began social media advertising
  • July 18th - 97 investors combine to exceed $100k milestone


$45,000 Milestone

11 months ago

Microbiome-focused biotech company (Covira Surgical) launches equity crowdfunding offering and gains 30 lead investors within the first 30 hours, and surpasses $45,000 milestone.

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