BlueStone Venture Partners

BlueStone Venture Partners is a venture capital firm established in 2018, initially launched in Tucson, Arizona, and currently based in Santa Fe, New Mexico. The firm specializes in providing strategic capital and support to early-stage life science companies, primarily focusing on Series A and Series B funding rounds. Its investment interests encompass a range of sectors, including medical devices, health information technology, advanced materials, molecular diagnostics, and biopharma. The firm aims to foster innovation and growth within these industries by partnering with entrepreneurial companies.

Andrew More

Director

Thomas Nickoloff

Co-Founder and Managing Director

9 past transactions

GT Medical Technologies

Series C in 2023
GT Medical Technologies, Inc. is a medical device company based in Tempe, Arizona, dedicated to improving the lives of patients with brain tumors. Founded in 2017, the company has developed an innovative treatment approach through its flagship product, GammaTile, which combines a biocompatible, conformable collagen matrix with brachytherapy radiation seeds. This technology is designed to address the limitations of existing treatments for recurrent brain tumors, providing a bioresorbable solution that enhances treatment efficacy. GammaTile is protected by multiple patents and has the potential to benefit a significant patient population, with an estimated 176,000 patients diagnosed annually in the United States. To date, clinical trials at Barrow Neurological Institute have demonstrated promising outcomes, with significant clinical improvements observed in patients treated with this novel device.

Elucid

Series B in 2022
Elucid, located in the Boston biotech and medtech hub, specializes in enhancing the accuracy and cost-effectiveness of cardiovascular diagnostic imaging through machine learning. Its flagship product, ElucidVivo, is the first FDA-cleared software that evaluates plaque vulnerability from a single computed tomography angiography (CTA) scan, aiding in the assessment of heart attack and stroke risk as well as treatment selection. The company also collaborates with pharmaceutical firms, healthcare providers, and research organizations to offer quantitative image analysis services. By applying artificial intelligence to vascular diagnostics, Elucid aims to improve patient outcomes while providing a non-invasive and economically efficient means of capturing critical health information, thereby supporting cardiovascular pathologists in delivering comprehensive clinical insights.

Akadeum

Series B in 2021
Akadeum Life Sciences, Inc. is a life sciences company based in Ann Arbor, Michigan, founded in 2014. The company specializes in manufacturing microbubble cell separation products designed to facilitate the removal of target cells from biological samples. Its product line includes T cell and B cell isolation kits for both human and mouse cells, as well as products for red blood cell depletion. Akadeum utilizes buoyancy-activated cell sorting technology, employing microscopic microbubbles that capture target cells and float them to the surface for efficient removal. This innovative approach enhances the efficiency of downstream testing and analysis for medical practitioners. The company's products are available for purchase online, and it maintains a strategic partnership with Agilent Technologies.

Elucid

Series A in 2021
Elucid, located in the Boston biotech and medtech hub, specializes in enhancing the accuracy and cost-effectiveness of cardiovascular diagnostic imaging through machine learning. Its flagship product, ElucidVivo, is the first FDA-cleared software that evaluates plaque vulnerability from a single computed tomography angiography (CTA) scan, aiding in the assessment of heart attack and stroke risk as well as treatment selection. The company also collaborates with pharmaceutical firms, healthcare providers, and research organizations to offer quantitative image analysis services. By applying artificial intelligence to vascular diagnostics, Elucid aims to improve patient outcomes while providing a non-invasive and economically efficient means of capturing critical health information, thereby supporting cardiovascular pathologists in delivering comprehensive clinical insights.

GT Medical Technologies

Series B in 2020
GT Medical Technologies, Inc. is a medical device company based in Tempe, Arizona, dedicated to improving the lives of patients with brain tumors. Founded in 2017, the company has developed an innovative treatment approach through its flagship product, GammaTile, which combines a biocompatible, conformable collagen matrix with brachytherapy radiation seeds. This technology is designed to address the limitations of existing treatments for recurrent brain tumors, providing a bioresorbable solution that enhances treatment efficacy. GammaTile is protected by multiple patents and has the potential to benefit a significant patient population, with an estimated 176,000 patients diagnosed annually in the United States. To date, clinical trials at Barrow Neurological Institute have demonstrated promising outcomes, with significant clinical improvements observed in patients treated with this novel device.

Pyx Health

Series A in 2020
Pyx Health, Inc., established in 2017 and headquartered in Tucson, Arizona, specializes in developing a mobile solution that connects with individuals outside traditional healthcare settings to reduce loneliness and social isolation. The company's flagship product, Pyx Health, combines artificial intelligence and human interventions to provide critical and timely support, addressing social determinants of health. Central to this platform is Pyxir, an endearing chatbot personality that accompanies users throughout their healthcare journey, fostering trusted companionship and promoting healthy interaction within the app.

Paradigm Diagnostics

Series B in 2019
Paradigm Diagnostics specializes in advanced cancer diagnostics and biomarker-driven clinical trials, aiming to enhance treatment options for cancer patients. Utilizing next-generation sequencing and comprehensive biomarker analysis, Paradigm assesses the genomic and proteomic characteristics of individual tumors. This information allows for a detailed understanding of the specific cancer pathways involved and the potential therapies tailored to each patient's unique tumor profile. By focusing on personalized medicine, Paradigm empowers healthcare providers to offer targeted treatment strategies, ultimately improving patient outcomes in cancer care.

GT Medical Technologies

Series A in 2019
GT Medical Technologies, Inc. is a medical device company based in Tempe, Arizona, dedicated to improving the lives of patients with brain tumors. Founded in 2017, the company has developed an innovative treatment approach through its flagship product, GammaTile, which combines a biocompatible, conformable collagen matrix with brachytherapy radiation seeds. This technology is designed to address the limitations of existing treatments for recurrent brain tumors, providing a bioresorbable solution that enhances treatment efficacy. GammaTile is protected by multiple patents and has the potential to benefit a significant patient population, with an estimated 176,000 patients diagnosed annually in the United States. To date, clinical trials at Barrow Neurological Institute have demonstrated promising outcomes, with significant clinical improvements observed in patients treated with this novel device.

BroadSpot Imaging Corporation

Series A in 2018
BroadSpot Imaging Corporation focuses on developing diagnostic medical devices for eye care, specifically in the area of retinal imaging. The company employs advanced imaging technologies and compact, cloud-connected electronics to create cost-effective handheld instruments that replace traditional bulky and expensive diagnostic tools. By integrating AI and machine learning applications, BroadSpot Imaging aims to enhance the efficiency and accessibility of eye care services. Their innovations are designed to meet the growing demand for high-quality diagnostics, particularly as the population ages, allowing eye care professionals to serve more patients effectively and affordably across various medical settings.
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