Press Sports Announces a Recent Close of Pre-Seed Investment Round with Central Piedmont Investment Group

Press Sports, a sports social media app, is excited to announce that the company has recently closed a pre-seed investment round with Central Piedmont Investment Group. Founded in early 2018, Press Sports has been focused on building an engaging platform where athletes from any level can comfortably self-promote their athletic achievements and share their highlights. The company was founded by Conrad Cornell, a 2018 Mercer graduate and Division 1 baseball player, and Drew Williams, an Atlanta native who has played organized sports since grade school. They have since built the platform and have attracted an exponentially growing user base that includes thousands of the nation’s top prospects who are actively building their own highlight repositories.

“Growing up in youth and high school sports, we noticed there was no platform to comfortably share top highlights with friends, family, and fans. There was a clear negative stigma that prevented athletes from self-promoting these athletic achievements on existing social media. We wanted to create a place for all highlights to live – even if they aren’t ‘Instagram-worthy’ – which is why we created Press. Our users post anything from highlight mix tapes to training and weightlifting videos, and much of the content on Press is posted nowhere else. Early on we were diligent about getting feedback from the top athletes in the country so we’re really excited about our product that is continuously evolving,” Cornell said.

The funding has allowed Press to hire some key players in the social media space – Tyler Droll and Tom Chernetsky, formerly the CEO and CTO of YikYak. The money will allow these new hires to improve on the original product and create a viral app that keeps the users engaged and excited about their athletic careers.

Press is currently supported by Georgia Institute of Technology’s Advanced Technology Development Center, or ATDC, which is a technology incubator that gives startups the resources to be able to grow and develop quickly in the market.

“We see our platform as a way for athletes to ‘create their own Press’ by self-promoting and hyping their own athletic achievements. The players profiles will be a repository of all of their favorite athletic memories throughout their careers, and these profiles can be shared directly with coaches and used as a recruiting tool to help them get to the next level. Athletes can work to climb our own ‘Press Athlete Rankings’ lists by posting quality content that gets other users’ attention. The rankings are created by an algorithm based on the user’s exposure on our app and shared on our website and other social media pages. Press hopes to help athletes build their brands and grow their fan-bases organically through our app. We want to give them a platform where they can gain exposure and share their hard work and talent,” Williams said.

Bob Easter, Managing Director of Central Piedmont Investment Group, describing Press Sports said, “We at CPIG are delighted to invest in and mentor these two creative, high-energy partners. This application they created and continue to enhance will enable athletes to showcase their accomplishments and create new opportunities for themselves. We look forward to seeing the huge growth of Press Sports!”

The Press Sports app can currently be found on the Apple App Store or the Google Play Store, and their website can be found at https://presssportsapp.com/.

Moonlight Therapeutics Secures Private Funding to Advance Development of Peanut Allergy Treatment

Moonlight Therapeutics, Inc., announced today an investment of over $300,000 from a small group of private investors. Moonlight Therapeutics is a biotechnology company developing treatments for food allergies and its lead program focuses on a treatment for peanut allergy.

Moonlight’s proprietary treatment platform, TASIS — Targeted Allergen-Specific Immunotherapy within the Skin — involves the application of a small, minimally invasive skin patch that uses microneedles to target the delivery of allergens to the skin’s immune cells to desensitize someone from a food allergy. The microneedle patch is removed within a few minutes of application and the administration is complete.

This funding represents the company’s first private investment and was led by the Central Piedmont Investment Group (CPIG). The capital is in addition to the $2.5 million business grant Moonlight Therapeutics received in 2019 from the National Institute of Allergy and Infectious Diseases (NIAID), a division of the National Institutes of Health (NIH). The new funding will allow the company to strengthen its intellectual property and enable a pre-Investigational New Drug Application (IND) meeting with the Food and Drug Administration (FDA) for the peanut allergy treatment.

“We are emboldened by this additional capital to advance our preclinical timeline and prepare for a clinical trial using TASIS for peanut allergy,” said Samir Patel, Moonlight Therapeutics president and CEO. “We also gained a group of dedicated investors who we consider partners in our quest to create a meaningful therapy for those suffering from food allergies.”

“Moonlight Therapeutics has developed a unique allergen immunotherapy platform that will first be applied to peanut allergies. In the United States alone, there are an estimated 30 million people who suffer from food allergies, with 6 million being children,” said Bob Easter, CPIG managing director “As a result, CPIG sees tremendous growth potential and has been impressed with the creativity and diligence of the founders.”

Food allergies are a global problem and there are very few treatment options for both children and adults, explained Dr. Stanley Fineman, an allergist who served on the board of the World Allergy Organization and is a past president of the American College of Allergy, Asthma & Immunology. “A treatment like TASIS, under development by Moonlight Therapeutics, has the potential to help address this unmet need for not just peanut allergies, but multiple other food allergies.” Dr. Fineman is also an advisor to Moonlight Therapeutics.

Based in Atlanta, Ga., Moonlight Therapeutics is an early-stage biotechnology company developing targeted, allergen-specific immunotherapy treatments for food allergies. Food allergies are estimated to affect more than 30 million people in the United States. Moonlight uses its proprietary platform, TASIS, to target the delivery of allergens to immune cells in the skin. This technology was invented at Texas Tech University. TASIS can be used to deliver individual or combinations of allergens to treat multiple allergies. Founded in 2017, the company is a portfolio company of the Advanced Technology Development Center (ATDC) at the Georgia Institute of Technology, and is supported by the Georgia Research Alliance. To learn more, visit moonlighttx.com.