Delos Capital

Delos Capital, established in 2013, is a New York-based private equity firm that invests in lower-middle market companies. It focuses on healthcare and life science sectors, targeting businesses with EBITDA between $10 million and $30 million. The firm partners with strong management teams and strategic owners, providing growth capital and operational support to drive value creation. Delos Capital's investment strategy includes control buyouts, strategic partnerships, and distressed buyouts, aiming to achieve returns through supporting companies' development and facilitating collaborations.

Michael Chang

Partner

Yang Cheng

Associate

Matt Constantino

Founding Partner

Lee Cooper JD

Managing Director

Will DeBruyn

Partner

Willard DeBruyn

Partner

Tianqi Leng

Associate

Dan Li

Principal

Jordan Mondshine

Principal

Sanjay Sanghoee

CFO / COO

Tim Xiao

Partner and Founding Team Member

Ula Xue

Principal

43 past transactions

TRex Bio

Series B in 2024
TRexBio is a biotechnology company that leverages cutting-edge computational biology tools, a focus on human tissue, and expertise in immunobiology to develop therapeutics for cancer and inflammatory diseases. Its 'deep biology' discovery engine maps human tissue Treg behavior to disease processes, identifying and characterizing novel targets for therapeutic intervention. The platform supports the development of a portfolio of therapies that modulate the immune system to restore tissue immune homeostasis.

Cardurion Pharmaceuticals

Series B in 2024
Cardurion Pharmaceuticals, LLC, established in 2017 and headquartered in Boston, Massachusetts, is a biotechnology company dedicated to developing innovative therapies for heart failure and other cardiovascular diseases. The company is advancing clinical programs that target PDE9 and CaMKII inhibition, utilizing its expertise in cardiovascular signaling pathways to address significant unmet patient needs.

AltruBio

Series B in 2024
AltruBio is a biopharmaceutical company dedicated to the development of targeted antibody therapeutics aimed at treating cancer and immune-related inflammatory diseases. With its research and development foundation established in Taipei, Taiwan, since 2000, the company focuses on addressing unmet medical needs through innovative therapeutic solutions. AltruBio has developed an efficient discovery platform that identifies and validates novel antibody therapeutics. The company is actively advancing several potential therapeutic antibodies that target various conditions, including autoimmune diseases and multiple forms of cancer, such as pancreatic, stomach, colorectal, ovarian, and lung cancers. By leveraging its expertise in antibody-drug conjugate therapy and developing specialized linker payloads, AltruBio strives to improve patient outcomes and enhance recovery from immune-mediated diseases.

Avenzo

Series A in 2024
Avenzo Therapeutics is a clinical-stage biotechnology company dedicated to developing innovative therapies for oncology, specifically targeting underserved and rare cancers. The company operates a specialized platform that focuses on creating novel treatments aimed at genomically defined cancer types. By prioritizing targeted therapies, Avenzo Therapeutics seeks to advance cancer treatment options for patients who may not have access to effective solutions, thus addressing significant gaps in the current therapeutic landscape.

Sirius Therapeutics

Series B in 2023
Sirius Therapeutics is a biotechnology company specializing in the development of RNA interference (RNAi) therapies. It focuses on treating chronic cardiovascular diseases, providing innovative solutions for both physicians and patients.

Instylla

Series C in 2023
Instylla is a medical equipment supplier based in Bedford, Massachusetts, focused on developing next-generation liquid embolics for interventional radiology. The company specializes in products designed for controlled, complete, and persistent embolization, which enhances the capabilities of healthcare professionals in various clinical applications, including peripheral hemostasis and interventional oncology. Instylla’s flagship offering, the Embrace Hydrogel Embolic System, reflects its commitment to improving patient outcomes through innovative embolization solutions.

ECCOGENE

Series B in 2023
Eccogene is a clinical stage biopharmaceutical company focused on developing therapeutic solutions for unmet medical needs, particularly in the areas of metabolic and immune-related diseases. The company specializes in disease biology, medicinal chemistry, and translational science, with the aim of creating innovative pharmaceuticals that target complex chronic conditions such as obesity and diabetes. Eccogene is dedicated to advancing its pipeline of metabolic drugs to enhance patient outcomes and address significant health challenges.

Ensoma

Series B in 2023
Ensoma is a biotechnology company focused on advancing genomic medicine through its innovative in vivo approach, utilizing proprietary Engenious vectors. These vectors are engineered to deliver a wide array of gene modification technologies directly to blood and immune cells, including T cells, B cells, and myeloid cells, without the necessity for stem cell collection or prior myeloablative conditioning, which can pose risks to patients. This unique method allows for the administration of therapies via a single injection, enhancing accessibility and convenience in various healthcare settings, even where resources may be limited. Ensoma aims to expand the curative potential of genomic medicine, making it more accessible to patients in need.

Le Sueur

Acquisition in 2023
Le Sueur is a mining and metals company that specializes in supplying complex and pressure-tight aluminum castings and plastic injection molding components. The company serves various markets including rail, specialty automotive, and electric vehicles. Le Sueur offers a range of manufacturing processes such as permanent mold casting, sand casting, die casting, plastic injection molding, and precision machining. In addition to these services, the company provides engineering support to ensure clients have access to cost-effective manufacturing solutions.

Rejoni

Series B in 2022
Rejoni, Inc. is a medical device company based in Bedford, Massachusetts, founded in 2020. It specializes in developing and commercializing innovative solutions aimed at enhancing the outcomes of gynecological surgical procedures. The company focuses on preventing scar formation after intrauterine interventions, addressing both acute and chronic risks associated with such procedures. By utilizing biomaterials, Rejoni creates gynecological products that prioritize women's health, enabling patients to achieve their desired quality of life both now and in the future.

Rgenta Therapeutics

Series A in 2022
Rgenta Therapeutics, Inc. is a biotechnology company focused on developing RNA-targeting medicines aimed at treating oncology and neurological disorders. Founded in 2018 and based in Cambridge, Massachusetts, the company utilizes a proprietary platform that analyzes extensive genomic data to identify targetable RNA processing events. This innovative approach enables the design of small-molecule glues that modulate interactions among the spliceosome, regulatory proteins, and RNAs. Rgenta's unique methodology aims to unlock the therapeutic potential of previously undruggable targets, ultimately advancing drug development for human diseases.

Ostial Corporation

Venture Round in 2022
Ostial Corporation is a medical device company specializing in catheter-based delivery systems aimed at addressing challenges in aorto-ostial stenting. Founded in 2008 and headquartered in Campbell, California, the company has developed The FLASH Aorto-Ostial System, which features a dual-balloon angioplasty catheter. This innovative system stabilizes and post-dilates stents while conforming them to the ostium, enabling physicians to achieve optimal stent wall apposition after post-dilation. The technology is designed to enhance patient outcomes and facilitate easier vessel reaccess, making it applicable for both coronary and peripheral indications.

Exela Technologies

Post in 2022
Exela Technologies is a leader in business process automation (BPA), offering a range of enterprise software and solutions tailored for specific industries as well as general applications. The company serves vital sectors such as banking, healthcare, and insurance, providing solutions that enhance operational efficiency in mission-critical environments. Exela's BPA suite includes workflow automation, cognitive automation, digital mailrooms, print communications, and payment processing, demonstrating its capability to streamline complex processes. The company operates through various segments, notably Information and Transaction Processing Solutions, which is its primary revenue source, along with Healthcare Solutions and Legal and Loss Prevention Services. With a global presence, Exela Technologies leverages its extensive experience to meet the evolving needs of its clients across multiple industries.

United Flea Markets

Private Equity Round in 2022
United Flea Markets is a company based in Henderson, Colorado, that manages and operates various outdoor shopping and entertainment events, including flea markets and farmers' markets. The organization provides a platform for small businesses by offering a diverse range of indoor and outdoor market spaces, as well as event pavilions and open lots. Their markets feature a wide assortment of products, live music, food options, and in some locations, adult beverages. By creating vibrant community spaces, United Flea Markets supports local entrepreneurs and fosters a unique shopping experience for consumers.

Pioneer Recycling Services

Acquisition in 2021
Pioneer Recycling Services, LLC is a leading provider of non-hazardous recycling and solid waste management solutions in the Pacific Northwest, with facilities located in Tacoma, Washington, and Clackamas, Oregon. The company processes over 200,000 tons of recyclable materials annually and operates one of the largest Material Recycling Facilities in the region. Pioneer Recycling Services caters to a diverse clientele, including commercial, industrial, municipal, and residential customers. Its services encompass waste processing, sorting of mixed office recyclables, and handling various types of recyclables, enabling clients to minimize waste and maximize resource reuse. Through its reliable environmental services, Pioneer Recycling Services plays a vital role in promoting sustainability and responsible waste management practices.

OncoMyx Therapeutics

Series B in 2021
OncoMyx Therapeutics, Inc., established in 2018 and based in Phoenix, Arizona, specializes in the development of oncolytic immunotherapies. The company's core focus is the myxoma virus (MYXV), a unique oncolytic virus that targets both hematologic and solid tumors. OncoMyx's innovative approach involves a patented systemic delivery method, enabling the virus to be carried by human leukocytes to tumor cells, thereby stimulating an immune response to fight cancer.

OncoMyx Therapeutics

Series B in 2021
OncoMyx Therapeutics, Inc., established in 2018 and based in Phoenix, Arizona, specializes in the development of oncolytic immunotherapies. The company's core focus is the myxoma virus (MYXV), a unique oncolytic virus that targets both hematologic and solid tumors. OncoMyx's innovative approach involves a patented systemic delivery method, enabling the virus to be carried by human leukocytes to tumor cells, thereby stimulating an immune response to fight cancer.

MechanAir

Acquisition in 2021
MechanAir is a family of regional businesses specializing in mechanical, HVAC, and plumbing services. The company operates as a platform that includes commercial contractors, offering complex and value-added engineering work. With a focus on regional, industry, and technology differentiation, MechanAir serves clients across the Midwest and East Coast, providing tailored solutions to meet their specific needs in the mechanical and plumbing sectors.

Imperative Care

Series D in 2021
Imperative Care, Inc. is a medical technology company based in Campbell, California, established in 2015. The company specializes in developing innovative solutions aimed at enhancing the diagnosis, treatment, and rehabilitation of stroke patients. Its primary offerings include the Large Distal Platform, a catheter designed to facilitate access to treatment sites for both ischemic and hemorrhagic stroke procedures, and the ZOOM Aspiration System, which works in conjunction with the Large Distal Platform to provide a comprehensive solution for clot removal across various occlusion sizes. By focusing on improving the speed and effectiveness of acute stroke treatment, Imperative Care aims to address significant unmet needs in stroke care, ultimately providing patients with better prospects for recovery.

Phanes Therapeutics

Series B in 2021
Phanes Therapeutics, Inc. is a biotechnology company based in San Diego, California, established in 2016. It specializes in drug discovery and early development in the fields of immuno-oncology and eye diseases. The company is developing a range of therapeutic molecules, including monoclonal antibodies targeting solid tumors and conditions such as age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. In addition, Phanes Therapeutics is working on bispecific antibodies aimed at treating small cell lung cancer. With a strong foundation in scientific knowledge and innovation, the company is committed to advancing effective treatment options and improving patient outcomes on a global scale.

Antios Therapeutics

Series B in 2021
Antios Therapeutics, Inc. is a biopharmaceutical company based in Atlanta, Georgia, focused on developing innovative therapies for viral diseases. Founded in 2018 by Abel De La Rosa, Douglas Mayers, and Idean Marvasty, the company is dedicated to addressing the needs of patients infected with Hepatitis B and Hepatitis D viruses. Its lead product, ATI-2173, is an oral drug candidate aimed at providing a potentially curative treatment for Hepatitis B virus infections. With a leadership team that brings a wealth of experience, Antios Therapeutics is committed to advancing its therapeutic solutions in the field of viral diseases.

Clover Biopharmaceuticals

Series C in 2021
Clover Biopharmaceuticals, established in 2016, is a global, clinical-stage biotech company dedicated to discovering, developing, and commercializing innovative biologics targeting trimerization-dependent pathways in oncology and autoimmune diseases. The company's proprietary Trimer-Tag© technology platform enables the creation of novel biologics. Additionally, Clover employs its in-house cGMP biomanufacturing capabilities for select biosimilars development.

Rejoni

Series A in 2020
Rejoni, Inc. is a medical device company based in Bedford, Massachusetts, founded in 2020. It specializes in developing and commercializing innovative solutions aimed at enhancing the outcomes of gynecological surgical procedures. The company focuses on preventing scar formation after intrauterine interventions, addressing both acute and chronic risks associated with such procedures. By utilizing biomaterials, Rejoni creates gynecological products that prioritize women's health, enabling patients to achieve their desired quality of life both now and in the future.

Imperative Care

Series C in 2019
Imperative Care, Inc. is a medical technology company based in Campbell, California, established in 2015. The company specializes in developing innovative solutions aimed at enhancing the diagnosis, treatment, and rehabilitation of stroke patients. Its primary offerings include the Large Distal Platform, a catheter designed to facilitate access to treatment sites for both ischemic and hemorrhagic stroke procedures, and the ZOOM Aspiration System, which works in conjunction with the Large Distal Platform to provide a comprehensive solution for clot removal across various occlusion sizes. By focusing on improving the speed and effectiveness of acute stroke treatment, Imperative Care aims to address significant unmet needs in stroke care, ultimately providing patients with better prospects for recovery.

Clover Biopharmaceuticals

Series B in 2019
Clover Biopharmaceuticals, established in 2016, is a global, clinical-stage biotech company dedicated to discovering, developing, and commercializing innovative biologics targeting trimerization-dependent pathways in oncology and autoimmune diseases. The company's proprietary Trimer-Tag© technology platform enables the creation of novel biologics. Additionally, Clover employs its in-house cGMP biomanufacturing capabilities for select biosimilars development.

Curamir Therapeutics

Series A in 2019
Curamir is a Woburn, MA-based biotechnology company launched and incubated by Delos Capital with an initial academic licensing from SUNY. Through its proprietary miRNA engineering platform and insights into cancer biology, Curamir develops miRNA-based cancer therapeutics with enhanced safety, potency and stability. Its novel approach addresses current challenges associated with both chemoresistance in cancer and effective systemic delivery of miRNA mimics.

OncoMyx Therapeutics

Series A in 2019
OncoMyx Therapeutics, Inc., established in 2018 and based in Phoenix, Arizona, specializes in the development of oncolytic immunotherapies. The company's core focus is the myxoma virus (MYXV), a unique oncolytic virus that targets both hematologic and solid tumors. OncoMyx's innovative approach involves a patented systemic delivery method, enabling the virus to be carried by human leukocytes to tumor cells, thereby stimulating an immune response to fight cancer.

Barricaid

Series E in 2019
Barricaid is a medical device company that specializes in developing therapeutic solutions for patients undergoing back surgery. Their primary product is a bone-anchored implant designed to reduce the incidence of reherniation and reoperation in patients with large annular defects. The implant works by physically blocking the annulus at the post-surgery defect, using a titanium alloy anchor component that secures the device in position within either the caudal or cranial-adjacent vertebral body. This innovative approach aims to improve outcomes for patients who are at high risk of requiring repeated surgeries due to herniation following lumbar discectomy surgery, particularly those suffering from sciatica.

Antios Therapeutics

Series A in 2018
Antios Therapeutics, Inc. is a biopharmaceutical company based in Atlanta, Georgia, focused on developing innovative therapies for viral diseases. Founded in 2018 by Abel De La Rosa, Douglas Mayers, and Idean Marvasty, the company is dedicated to addressing the needs of patients infected with Hepatitis B and Hepatitis D viruses. Its lead product, ATI-2173, is an oral drug candidate aimed at providing a potentially curative treatment for Hepatitis B virus infections. With a leadership team that brings a wealth of experience, Antios Therapeutics is committed to advancing its therapeutic solutions in the field of viral diseases.

HOP Energy

Acquisition in 2018
HOP Energy, LLC is a full-service energy company that offers a variety of residential and commercial energy solutions throughout the northeastern United States. Founded in 1995 and headquartered in White Plains, New York, the company provides residential customers with heating oils, propane fuel and tanks, and a range of heating and cooling equipment, alongside 24-hour service and comprehensive service contracts for essential appliances such as water heaters and humidifiers. For commercial clients, HOP Energy specializes in premium heating oils, motor fuels, biofuels, natural gas, and a broad array of HVAC services, including the sale and installation of furnaces, boilers, heat pumps, and generators. The company also offers mobile fleet fueling, emergency response programs, and tailored payment options. HOP Energy serves a diverse service area, including Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Pennsylvania, and Delaware.

Edgard Construction Materials

Acquisition in 2018
Edgard Construction Materials LLC is a provider of building materials located in Edgard, Louisiana, serving customers in Southern Louisiana. Established in 2018, the company specializes in offering a range of construction materials, including clay material, river sand, and batch dirt. These products are approved by the United States Army Corps of Engineers and encompass various fill soils suitable for construction projects. Edgard Construction Materials is dedicated to meeting the needs of the construction industry by supplying high-quality materials essential for various building applications.

US Fitness Products

Private Equity Round in 2018
US Fitness Products provides fitness and gym equipment services to retail and commercial clients. Their services include home gym design, consumer financing, repair, preventative maintenance, commercial fitness solutions, commercial leasing, installation, and relocation.

Onelife Fitness

Private Equity Round in 2018
Onelife Fitness provides sports training, weight loss, stress reduction, and sports training. Onelife Fitness gyms offer a solution.

Sage Metals

Acquisition in 2018
Sage Metals Ltd. is a manufacturer of specialty metal products that caters to the North American markets, specifically in the electrical, power utility, industrial, and drainage sectors. Established over 30 years ago, the company has developed expertise in producing a range of metal products tailored to meet the needs of its diverse clientele.

LipoSeuticals

Series A in 2017
Liposeuticals, Inc. is a specialty pharmaceuticals company dedicated to developing proprietary formulations of sterile injectable drugs, primarily targeting anesthesiology, oncology, and infectious diseases. Founded in 2012 and based in Monmouth Junction, New Jersey, the company specializes in non-water-soluble drugs and employs a patented drug reformulation technology that uses pure sugar-lipid polymers. This innovative approach enhances drug stability, extends shelf life, and reduces manufacturing costs while also addressing issues related to drug wastage and antibiotic resistance. Liposeuticals focuses on expediting the development and approval process through the 505(b)(2) pathway at the United States Food and Drug Administration (FDA), aiming to generate novel intellectual property and leverage regulatory exclusivity under the Hatch-Waxman Act. The company’s product offerings include well-known medications such as Diprivan, Taxotere, and Alimta, showcasing its commitment to improving the efficacy and safety of injectable therapies.

Barricaid

Debt Financing in 2017
Barricaid is a medical device company that specializes in developing therapeutic solutions for patients undergoing back surgery. Their primary product is a bone-anchored implant designed to reduce the incidence of reherniation and reoperation in patients with large annular defects. The implant works by physically blocking the annulus at the post-surgery defect, using a titanium alloy anchor component that secures the device in position within either the caudal or cranial-adjacent vertebral body. This innovative approach aims to improve outcomes for patients who are at high risk of requiring repeated surgeries due to herniation following lumbar discectomy surgery, particularly those suffering from sciatica.

Allecra Therapeutics

Series B in 2016
Allecra Therapeutics GmbH is a clinical-stage biopharmaceutical company founded in 2013 and based in Weil am Rhein, Germany. The company specializes in developing innovative pharmaceuticals aimed at treating multi-drug-resistant bacterial infections, particularly those caused by gram-negative bacteria. Allecra is advancing a novel β-lactamase inhibitor currently in Phase 2 clinical development, which is designed to counteract emerging resistance mechanisms prevalent in difficult-to-treat hospital-acquired infections. By inhibiting β-lactamases, this new treatment has the potential to address significant health challenges faced by patients, healthcare providers, and governments globally. Allecra Therapeutics operates within the BioValley Life Sciences region, which spans parts of northwest Switzerland, southwestern Germany, and the Alsace region of France.

BAROnova

Series D in 2015
BAROnova, Inc. is a clinical-stage medical-device company founded in 2006 and headquartered in Goleta, California. The company specializes in developing non-surgical, non-pharmacologic devices aimed at inducing weight loss. Its primary product, the TransPyloric Shuttle, is a device that is inserted into the stomach through the mouth using a straightforward endoscopic procedure. This device is designed to enhance the sensation of fullness by causing the stomach to fill up faster and remain full longer, while also delaying gastric emptying. Through its innovative approach, BAROnova seeks to provide patients with effective tools for weight management without the need for surgery.

Syndax Pharmaceuticals

Series C in 2015
Syndax Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Waltham, Massachusetts, specializing in the development of therapies for cancer treatment. The company's lead candidate, entinostat, is a class I HDAC inhibitor currently in Phase III trials for advanced hormone receptor-positive, HER2-negative breast cancer. Additionally, Syndax is advancing SNDX-5613, a selective inhibitor targeting the Menin-MLL binding interaction, in Phase I/II trials for acute myeloid leukemia with specific mutations. The company also explores entinostat in combination with immunotherapies such as Keytruda and Tecentriq for various cancers, including non-small cell lung cancer and metastatic breast cancer. Furthermore, Syndax is developing axatilimab, a monoclonal antibody targeting the CSF-1 receptor, currently in trials for chronic graft-versus-host disease. The company maintains collaborative relationships with several major pharmaceutical entities and research organizations to enhance its drug development efforts. Founded in 2005, Syndax Pharmaceuticals is committed to advancing innovative treatments for patients with challenging malignancies.

Flamingo Island Flea Market

Acquisition in 2015
Flamingo Island Flea Market is a prominent flea market located in Bonita Springs, Florida, covering 14.67 acres near Interstate 75. It features 81,152 square feet of open-air vendor space, accommodating nearly 600 vendor booths. The market offers a diverse array of products, ranging from new items to collectibles, catering to a wide variety of shoppers and enthusiasts. Its expansive layout and variety of offerings make it a popular destination for both locals and visitors seeking unique goods and experiences.

Atia Vision

Series B in 2015
Atia Vision, Inc. is a medical device company based in Campbell, California, specializing in the development of innovative ophthalmic solutions. Founded in 2012, the company focuses on creating modular presbyopia-correcting intraocular lenses, which address the needs of the intraocular lens replacement market. Atia Vision's technology features an accommodating base that responds to the ciliary muscles of the eye, simulating natural accommodation and allowing for subsequent refractive corrections. This approach restores the full range of functional vision for cataract patients, effectively improving patient outcomes by eliminating the need for glasses. The company's commitment to advancing eye care is reflected in its goal to enhance the quality of life for individuals through innovative medical devices that expedite market entry while minimizing risk.

FCA Packaging

Acquisition in 2015
FCA Packaging, established in 1985, specializes in the design and manufacture of highly customized, heavy-duty industrial packaging solutions tailored for leading original equipment manufacturers across various sectors, including aerospace, construction, and energy. The company offers a diverse range of products, including wood, steel, corrugated, and hybrid packaging, as well as expendable, reusable, and returnable options. FCA’s custom offerings encompass engineered skids, crates, pallets, boxes, and collapsible packaging, all designed to safeguard valuable inventory. In addition to its packaging products, FCA provides a suite of value-added services such as design, testing, manufacturing, container management, tracking, recycling management, and refurbishment. With a focus on just-in-time delivery, FCA Packaging delivers cost-effective solutions that enhance packaging protection and optimize operational efficiency for its clients.

Innovative Chemical Products

Private Equity Round in 2015
Innovative Chemical Products, known as the ICP Group, is a manufacturer specializing in coatings, adhesives, sealants, and elastomers for various markets, including printing, graphic arts, construction, and industrial sectors. The company offers a range of chemical products tailored for commercial printing, labels, industrial coatings, transactional cards, and packaging needs. Additionally, it provides services related to building envelopes for residential, industrial, and commercial installations, as well as flooring and cementitious applications, aimed at enhancing, beautifying, and protecting various surfaces. With a focus on organic growth and strategic acquisitions, the ICP Group leverages its expertise and resources to establish a robust platform of specialty formulated products. The company emphasizes strong customer partnerships through a commitment to service, quality, and innovation, while benefiting from collaborative efforts in raw material purchasing and technological advancements.
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