Venture Investors

Venture Investors, LLC is a venture capital firm based in Madison, Wisconsin, with additional offices in Ann Arbor and Milwaukee. Established in 1982, the firm specializes in seed, early-stage, and growth-stage financing, particularly targeting the healthcare and technology sectors. It invests in a range of areas including biotechnology, diagnostics, therapeutics, and medical devices, as well as in agriculture, clean technology, and engineering. The firm is particularly focused on opportunities arising from university technology transfer, leveraging its connections with research institutions in the Midwest. Venture Investors typically makes initial investments ranging from $0.25 million to $2.5 million, with lifetime investments between $5 million and $8 million. The firm aims to be the lead investor, preferring to invest in preferred stock or debt with warrant coverage, and generally holds its investments for five to seven years until an exit occurs through an initial public offering or sale. With over $200 million in assets under management, Venture Investors is dedicated to nurturing innovative ideas that advance health and wellness.

Jim Adox

Executive Managing Director

James R. Adox

Executive Managing Director

David Arnstein

CFO and Managing Director

Scott Button

Managing Director

Jenni Le

Associate

John Neis

Managing Director

Paul Weiss Ph.D

Managing Director

95 past transactions

EnsoData

Series A in 2022
EnsoData is a healthcare technology startup that leverages artificial intelligence to enhance the diagnosis and treatment of sleep disorders. Its software employs advanced machine learning algorithms to analyze sleep data, enabling clinicians to efficiently score and diagnose conditions such as sleep apnea. By integrating best practices in scoring with innovative algorithms, EnsoData's platform automates the interpretation of complex sleep study data, significantly reducing review times for neurology labs. This efficiency not only streamlines the scoring process but also enhances patient outcomes and increases revenue for healthcare providers.

ViaLase

Series A in 2021
ViaLase develops an image-guided femtosecond laser surgical system for the treatment of glaucoma. ViaLase is headquartered in Corona Del Mar, California.

EnsoData

Series A in 2020
EnsoData is a healthcare technology startup that leverages artificial intelligence to enhance the diagnosis and treatment of sleep disorders. Its software employs advanced machine learning algorithms to analyze sleep data, enabling clinicians to efficiently score and diagnose conditions such as sleep apnea. By integrating best practices in scoring with innovative algorithms, EnsoData's platform automates the interpretation of complex sleep study data, significantly reducing review times for neurology labs. This efficiency not only streamlines the scoring process but also enhances patient outcomes and increases revenue for healthcare providers.

HistoSonics

Series C in 2020
HistoSonics provides the Edison Platform, which uses advanced imaging and proprietary sensing technology to deliver non-invasive, personalized treatments with precision and control, and uses the science of histotripsy and focused sound energy to generate pressures to liquify and completely destroy targeted tissues at sub-cellular levels.

Eximis Surgical

Series A in 2020
Eximis Surgical, founded in 2014 and headquartered in Louisville, Colorado, specializes in developing innovative technology for laparoscopic surgery. The company has created a specimen removal device that enables surgeons to efficiently extract large specimens through small incisions. This device utilizes radio frequency (RF) energized cutting wires, which are temporarily held in a containment bag, allowing for quick and safe specimen removal. By integrating seamlessly into existing physician protocols, Eximis Surgical's technology significantly reduces the time required for specimen extraction, minimizes patient discomfort, and ensures safe surgical outcomes. Additionally, the device separates specimens into narrow strips, facilitating the creation of clean tissue segments for accurate pathology identification, thereby enhancing the overall effectiveness of minimally invasive surgery.

Health Scholars

Series B in 2020
Health Scholars, Inc. is a company that specializes in medical simulation training software aimed at enhancing clinical education for healthcare providers. Established in 2017 and based in Westminster, Colorado, the company offers a range of virtual reality (VR) training solutions, including pre-hospital and in-hospital Advanced Cardiovascular Life Support (ACLS) training for first responders and clinicians, respectively. Additionally, Health Scholars provides VR training focused on mitigating surgical fire risks in operating rooms. Their platform is designed to be user-friendly and scalable across healthcare systems, allowing for the effective management and delivery of interactive training content. This approach not only offers a cost-effective solution but also enriches the educational experience for medical professionals.

SkySpecs

Series C in 2019
SkySpecs, Inc. specializes in developing unmanned aerial vehicles designed to automate operations and maintenance for the wind energy sector. Based in Ann Arbor, Michigan, with an additional office in Amsterdam, the company offers a range of services including analytics, wind turbine blade maintenance, and engineering projects. Its solutions feature Horizon, a software tool that facilitates collaboration and data management for blade operations and maintenance, enabling streamlined communication and efficient repair project execution. Founded in 2012, SkySpecs employs custom autonomous drones to perform inspections, diagnostics, and maintenance of utility-scale wind turbines, providing high-quality data and enhancing safety during inspections. The company aims to improve productivity and efficiency in the renewable energy industry through its innovative technologies and services.

HistoSonics

Series C in 2019
HistoSonics provides the Edison Platform, which uses advanced imaging and proprietary sensing technology to deliver non-invasive, personalized treatments with precision and control, and uses the science of histotripsy and focused sound energy to generate pressures to liquify and completely destroy targeted tissues at sub-cellular levels.

Eximis Surgical

Venture Round in 2018
Eximis Surgical, founded in 2014 and headquartered in Louisville, Colorado, specializes in developing innovative technology for laparoscopic surgery. The company has created a specimen removal device that enables surgeons to efficiently extract large specimens through small incisions. This device utilizes radio frequency (RF) energized cutting wires, which are temporarily held in a containment bag, allowing for quick and safe specimen removal. By integrating seamlessly into existing physician protocols, Eximis Surgical's technology significantly reduces the time required for specimen extraction, minimizes patient discomfort, and ensures safe surgical outcomes. Additionally, the device separates specimens into narrow strips, facilitating the creation of clean tissue segments for accurate pathology identification, thereby enhancing the overall effectiveness of minimally invasive surgery.

Invenra

Series B in 2018
Invenra Inc. is a biopharmaceutical company specializing in the discovery of biologics, particularly antibodies and their derivatives. Founded in 2011 and located in Madison, Wisconsin, Invenra utilizes a proprietary technology that integrates cell-free expression of full-length antibodies with extreme miniaturization. This innovative approach allows for the screening of a vast number of full-length antibodies in phenotypic assays, facilitating the identification of next-generation biologics. The company boasts a strong scientific foundation and a team of experts with extensive knowledge in genomics, biochemistry, and bioengineering, blending advanced basic research with practical commercial applications.

HealthMyne

Series B in 2018
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, established in 2013. It specializes in providing innovative search, analytics, and imaging solutions primarily for cancer care providers. The company's smart imaging technology supports clinical decision-making by offering real-time, evidence-based insights that enhance diagnostic accuracy and foster collaboration among healthcare professionals. HealthMyne's platform includes features such as automatic tumor staging, dose overlays, specialized reporting, and management of incidental findings, all aimed at improving patient care and optimizing the efficiency of clinical workflows. By integrating electronic health record capabilities with advanced imaging solutions, HealthMyne seeks to reduce care delivery costs while ensuring that clinicians have access to relevant patient information for informed treatment decisions.

SkySpecs

Series B in 2018
SkySpecs, Inc. specializes in developing unmanned aerial vehicles designed to automate operations and maintenance for the wind energy sector. Based in Ann Arbor, Michigan, with an additional office in Amsterdam, the company offers a range of services including analytics, wind turbine blade maintenance, and engineering projects. Its solutions feature Horizon, a software tool that facilitates collaboration and data management for blade operations and maintenance, enabling streamlined communication and efficient repair project execution. Founded in 2012, SkySpecs employs custom autonomous drones to perform inspections, diagnostics, and maintenance of utility-scale wind turbines, providing high-quality data and enhancing safety during inspections. The company aims to improve productivity and efficiency in the renewable energy industry through its innovative technologies and services.

HealthMyne

Venture Round in 2017
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, established in 2013. It specializes in providing innovative search, analytics, and imaging solutions primarily for cancer care providers. The company's smart imaging technology supports clinical decision-making by offering real-time, evidence-based insights that enhance diagnostic accuracy and foster collaboration among healthcare professionals. HealthMyne's platform includes features such as automatic tumor staging, dose overlays, specialized reporting, and management of incidental findings, all aimed at improving patient care and optimizing the efficiency of clinical workflows. By integrating electronic health record capabilities with advanced imaging solutions, HealthMyne seeks to reduce care delivery costs while ensuring that clinicians have access to relevant patient information for informed treatment decisions.

FluGen

Series A in 2017
FluGen, Inc. is a biopharmaceutical company focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007 and based in Madison, Wisconsin, FluGen offers RedeeFlu, a nasal spray vaccine designed to protect against influenza, along with a vaccine-loaded intradermal microneedle delivery device. The company aims to address both seasonal and pandemic influenza on a global scale.

HistoSonics

Series B in 2017
HistoSonics provides the Edison Platform, which uses advanced imaging and proprietary sensing technology to deliver non-invasive, personalized treatments with precision and control, and uses the science of histotripsy and focused sound energy to generate pressures to liquify and completely destroy targeted tissues at sub-cellular levels.

Elucent Medical

Series A in 2017
Elucent Medical LLC is focused on enhancing breast cancer treatment through innovative technology. Founded in 2014 and headquartered in Brookfield, Wisconsin, the company has developed a wireless marker tag and detection system that assists surgeons in locating breast abnormalities during surgical excision. This system aims to eliminate the need for metal clips, thereby simplifying the detection process and improving surgical outcomes. By providing tools that allow for the preservation of healthy tissue while effectively removing cancerous areas, Elucent Medical strives to make breast cancer procedures more accessible and affordable for both healthcare providers and patients.

Madison Vaccines

Venture Round in 2017
Madison Vaccines, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing therapeutic plasmid DNA vaccines for prostate cancer and its associated bone metastases. Founded by Douglas McNeel, M.D., Ph.D., and Richard Lesniewski, Ph.D., the company is working on two primary vaccines: pTVG-HP and pTVG-AR. The lead vaccine, pTVG-HP, is administered via intradermal injection and targets prostatic acid phosphatase (PAP), with ongoing Phase 2 clinical trials for men at high risk of developing bone metastases following prostate cancer treatment. Initial trials have shown promising biological and biochemical activity. The second vaccine, pTVG-AR, aims to target the androgen receptor, a key driver of prostate cancer growth, and is expected to enter clinical trials soon. Additionally, Madison Vaccines is developing a companion diagnostic test based on a novel blood signature identified by the McNeel lab, which could help predict patient responses to these vaccines.

TAI Diagnostics

Venture Round in 2017
TAI Diagnostics, Inc. is a biotechnology company based in Wauwatosa, Wisconsin, specializing in non-invasive diagnostic tests for monitoring the health of transplanted organs in patients who have received solid organ transplants. Founded in 2013, the company focuses on utilizing cell-free DNA technology to enhance transplant surveillance, aiming to improve patient outcomes through highly sensitive diagnostic solutions. TAI Diagnostics is situated in the Milwaukee County Research Park, close to notable medical research institutions, which supports its mission to advance the field of organ transplant monitoring.

HealthMyne

Venture Round in 2016
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, established in 2013. It specializes in providing innovative search, analytics, and imaging solutions primarily for cancer care providers. The company's smart imaging technology supports clinical decision-making by offering real-time, evidence-based insights that enhance diagnostic accuracy and foster collaboration among healthcare professionals. HealthMyne's platform includes features such as automatic tumor staging, dose overlays, specialized reporting, and management of incidental findings, all aimed at improving patient care and optimizing the efficiency of clinical workflows. By integrating electronic health record capabilities with advanced imaging solutions, HealthMyne seeks to reduce care delivery costs while ensuring that clinicians have access to relevant patient information for informed treatment decisions.

Silatronix

Venture Round in 2016
Silatronix, Inc. is a company based in Madison, Wisconsin, specializing in the development of organosilicon (OS) compounds and formulations for energy storage applications. Founded in 2007, the company focuses on creating organosilicon electrolytes used in both rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. Silatronix combines expert knowledge in organosilicon chemistry with advancements in nanostructured electrodes and the electronic properties of materials, aimed at enhancing the performance and efficiency of energy storage devices. Its innovative products are integral to the evolving landscape of energy storage technology.

FluGen

Venture Round in 2016
FluGen, Inc. is a biopharmaceutical company focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007 and based in Madison, Wisconsin, FluGen offers RedeeFlu, a nasal spray vaccine designed to protect against influenza, along with a vaccine-loaded intradermal microneedle delivery device. The company aims to address both seasonal and pandemic influenza on a global scale.

SkySpecs

Series A in 2015
SkySpecs, Inc. specializes in developing unmanned aerial vehicles designed to automate operations and maintenance for the wind energy sector. Based in Ann Arbor, Michigan, with an additional office in Amsterdam, the company offers a range of services including analytics, wind turbine blade maintenance, and engineering projects. Its solutions feature Horizon, a software tool that facilitates collaboration and data management for blade operations and maintenance, enabling streamlined communication and efficient repair project execution. Founded in 2012, SkySpecs employs custom autonomous drones to perform inspections, diagnostics, and maintenance of utility-scale wind turbines, providing high-quality data and enhancing safety during inspections. The company aims to improve productivity and efficiency in the renewable energy industry through its innovative technologies and services.

TAI Diagnostics

Series A in 2015
TAI Diagnostics, Inc. is a biotechnology company based in Wauwatosa, Wisconsin, specializing in non-invasive diagnostic tests for monitoring the health of transplanted organs in patients who have received solid organ transplants. Founded in 2013, the company focuses on utilizing cell-free DNA technology to enhance transplant surveillance, aiming to improve patient outcomes through highly sensitive diagnostic solutions. TAI Diagnostics is situated in the Milwaukee County Research Park, close to notable medical research institutions, which supports its mission to advance the field of organ transplant monitoring.

Silatronix

Venture Round in 2015
Silatronix, Inc. is a company based in Madison, Wisconsin, specializing in the development of organosilicon (OS) compounds and formulations for energy storage applications. Founded in 2007, the company focuses on creating organosilicon electrolytes used in both rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. Silatronix combines expert knowledge in organosilicon chemistry with advancements in nanostructured electrodes and the electronic properties of materials, aimed at enhancing the performance and efficiency of energy storage devices. Its innovative products are integral to the evolving landscape of energy storage technology.
Delphinus Medical Technologies, Inc. is a medical imaging company founded in 2009 and headquartered in Plymouth, Michigan, with a satellite office in Sunnyvale, California. The company specializes in the development and commercialization of SoftVue, a circular array transducer technology designed for ultrasound imaging of the entire breast. This innovative system allows for three-dimensional and tomographic imaging, enabling medical professionals to differentiate between benign and malignant masses, assess breast cancer risks, and diagnose breast diseases. SoftVue offers a non-invasive and comfortable screening experience for women, eliminating concerns about radiation. Delphinus Medical Technologies serves hospitals and imaging clinics both in the United States and internationally, focusing on improving early detection and monitoring of breast cancer.

ReShape Medical

Series D in 2015
ReShape Medical Inc. is a medical device company specializing in non-surgical weight loss solutions for individuals with mild to moderate obesity, specifically those with a Body Mass Index (BMI) of 30-40. The company offers the ReShape procedure, which utilizes a dual intragastric balloon system combined with a personalized one-year weight loss program, aimed at facilitating weight loss through lifestyle changes. This procedure is designed for adult patients who have not achieved success with diet and exercise alone. ReShape Medical operates through medical weight loss centers and is based in San Clemente, California. Originally founded as Abdominis, Inc. in 2005, the company was rebranded and operates as a subsidiary of ReShape Lifesciences Inc. The broader product portfolio of its parent company includes other minimally invasive devices for treating obesity and metabolic diseases.

FluGen

Series A in 2015
FluGen, Inc. is a biopharmaceutical company focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007 and based in Madison, Wisconsin, FluGen offers RedeeFlu, a nasal spray vaccine designed to protect against influenza, along with a vaccine-loaded intradermal microneedle delivery device. The company aims to address both seasonal and pandemic influenza on a global scale.

Neurovance

Series A in 2015
Neurovance, Inc. is a clinical-stage neuroscience company headquartered in Cambridge, Massachusetts, focused on developing therapies for attention deficit hyperactivity disorder (ADHD) in both adults and children. The company's primary product, centanafadine, is a triple reuptake inhibitor that specifically modulates the activity of norepinephrine, dopamine, and serotonin to address symptoms such as lack of focus, inattention, and disorganization associated with ADHD. Founded in 2009 and incorporated in 2011, Neurovance has received venture capital funding from several investors, including the Novartis Venture Fund and the State of Wisconsin Investment Board. As of March 2017, Neurovance operates as a subsidiary of Otsuka America, Inc.

NeuWave Medical

Series C in 2015
NeuWave Medical develops tools that deliver energy to the human body to treat a variety of serious medical conditions. Their company founders are both engineers and physician-scientists which allows determining a clinical need and design solutions that are clinically relevant, effective, and minimally invasive. They strive to make the highest quality devices that are the products of choice for leading physicians and medical centers around the world. The company was founded in 2004 and is headquartered in Madison, Wisconsin.

Madison Vaccines

Series A in 2015
Madison Vaccines, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing therapeutic plasmid DNA vaccines for prostate cancer and its associated bone metastases. Founded by Douglas McNeel, M.D., Ph.D., and Richard Lesniewski, Ph.D., the company is working on two primary vaccines: pTVG-HP and pTVG-AR. The lead vaccine, pTVG-HP, is administered via intradermal injection and targets prostatic acid phosphatase (PAP), with ongoing Phase 2 clinical trials for men at high risk of developing bone metastases following prostate cancer treatment. Initial trials have shown promising biological and biochemical activity. The second vaccine, pTVG-AR, aims to target the androgen receptor, a key driver of prostate cancer growth, and is expected to enter clinical trials soon. Additionally, Madison Vaccines is developing a companion diagnostic test based on a novel blood signature identified by the McNeel lab, which could help predict patient responses to these vaccines.

HealthMyne

Series A in 2015
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, established in 2013. It specializes in providing innovative search, analytics, and imaging solutions primarily for cancer care providers. The company's smart imaging technology supports clinical decision-making by offering real-time, evidence-based insights that enhance diagnostic accuracy and foster collaboration among healthcare professionals. HealthMyne's platform includes features such as automatic tumor staging, dose overlays, specialized reporting, and management of incidental findings, all aimed at improving patient care and optimizing the efficiency of clinical workflows. By integrating electronic health record capabilities with advanced imaging solutions, HealthMyne seeks to reduce care delivery costs while ensuring that clinicians have access to relevant patient information for informed treatment decisions.

Silatronix

Funding Round in 2015
Silatronix, Inc. is a company based in Madison, Wisconsin, specializing in the development of organosilicon (OS) compounds and formulations for energy storage applications. Founded in 2007, the company focuses on creating organosilicon electrolytes used in both rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. Silatronix combines expert knowledge in organosilicon chemistry with advancements in nanostructured electrodes and the electronic properties of materials, aimed at enhancing the performance and efficiency of energy storage devices. Its innovative products are integral to the evolving landscape of energy storage technology.

Thalchemy

Funding Round in 2015
Thalchemy Corp. develops neurally-inspired algorithms and accelerators aimed at continuous sensory processing in smartphones and other battery-operated devices. By mimicking the functionality of the mammalian thalamus, the company's technology allows for the routing, filtering, and preprocessing of sensory data, which enhances the detection of complex gestures and hot words across multiple modalities. This innovative approach significantly extends battery life for devices such as smartphones and wearables, while providing optimized voice and gesture control. Thalchemy's solutions also support the creation of always-on applications, simplifying development through an automated, user-friendly interface. Additionally, the technology can monitor environmental conditions, enabling applications that alert users or caregivers in emergency situations, such as falls or irregular heartbeats. Founded in 2012 and based in Madison, Wisconsin, Thalchemy aims to transform user interfaces and experiences across a variety of sensing platforms.

Prevacept Infection Control

Venture Round in 2014
Prevacept Infection Control is a clinical-stage company focused on developing and commercializing products that prevent infections associated with indwelling catheters.

Thalchemy

Seed Round in 2014
Thalchemy Corp. develops neurally-inspired algorithms and accelerators aimed at continuous sensory processing in smartphones and other battery-operated devices. By mimicking the functionality of the mammalian thalamus, the company's technology allows for the routing, filtering, and preprocessing of sensory data, which enhances the detection of complex gestures and hot words across multiple modalities. This innovative approach significantly extends battery life for devices such as smartphones and wearables, while providing optimized voice and gesture control. Thalchemy's solutions also support the creation of always-on applications, simplifying development through an automated, user-friendly interface. Additionally, the technology can monitor environmental conditions, enabling applications that alert users or caregivers in emergency situations, such as falls or irregular heartbeats. Founded in 2012 and based in Madison, Wisconsin, Thalchemy aims to transform user interfaces and experiences across a variety of sensing platforms.

HistoSonics

Series A in 2014
HistoSonics provides the Edison Platform, which uses advanced imaging and proprietary sensing technology to deliver non-invasive, personalized treatments with precision and control, and uses the science of histotripsy and focused sound energy to generate pressures to liquify and completely destroy targeted tissues at sub-cellular levels.

Aerpio

Series C in 2014
Aerpio Pharmaceuticals is a biopharmaceutical company dedicated to developing innovative treatments for ocular diseases and diabetic complications. Its lead candidate, razuprotafib, is a small molecule that activates the Tie2 pathway and has completed a Phase IIb clinical trial for diabetic retinopathy. The company is also advancing ARP-1536, a humanized monoclonal antibody in preclinical stages for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently in a Phase 1b clinical trial for inflammatory bowel disease. Additionally, Aerpio is developing a bispecific antibody for wet age-related macular degeneration and diabetic macular edema. The company collaborates with Quantum Leap Healthcare Collaborative to evaluate razuprotafib for acute respiratory distress syndrome in COVID-19 patients. Founded in 2011 and headquartered in Cincinnati, Ohio, Aerpio emerged from a spin-out from Akebia Therapeutics, leveraging an experienced management team and an outsourced development model.

Neurovance

Series A in 2014
Neurovance, Inc. is a clinical-stage neuroscience company headquartered in Cambridge, Massachusetts, focused on developing therapies for attention deficit hyperactivity disorder (ADHD) in both adults and children. The company's primary product, centanafadine, is a triple reuptake inhibitor that specifically modulates the activity of norepinephrine, dopamine, and serotonin to address symptoms such as lack of focus, inattention, and disorganization associated with ADHD. Founded in 2009 and incorporated in 2011, Neurovance has received venture capital funding from several investors, including the Novartis Venture Fund and the State of Wisconsin Investment Board. As of March 2017, Neurovance operates as a subsidiary of Otsuka America, Inc.

NeuMoDx Molecular

Series B in 2014
NeuMoDx Molecular, Inc. is a molecular diagnostics company focused on developing solutions for molecular diagnostic testing in hospital and clinical reference laboratories. Established in 2012 and based in Ann Arbor, Michigan, the company was formerly known as Molecular Systems Corporation before rebranding in April 2013. As of September 2020, NeuMoDx operates as a subsidiary of QIAGEN N.V. Its innovative products aim to enhance the efficiency and accuracy of molecular testing, contributing to better patient outcomes in various healthcare settings.

UpTo

Series A in 2014
UpTo, Inc. is a company that specializes in developing a social calendar application for smartphones. Founded in 2011 and based in Detroit, Michigan, UpTo provides a platform that allows users to publish and manage their organization's calendar while privately connecting with friends, family, and colleagues to share events selectively. The application offers a streamlined view of important upcoming events, eliminating clutter and focusing on what matters most. Users can easily add events, syncing seamlessly across both mobile and web platforms, and can integrate with existing calendars such as Google Calendar and Outlook. The service is designed to cater to both individuals and organizations, enhancing the way they manage and share their schedules.

Madison Vaccines

Series A in 2014
Madison Vaccines, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing therapeutic plasmid DNA vaccines for prostate cancer and its associated bone metastases. Founded by Douglas McNeel, M.D., Ph.D., and Richard Lesniewski, Ph.D., the company is working on two primary vaccines: pTVG-HP and pTVG-AR. The lead vaccine, pTVG-HP, is administered via intradermal injection and targets prostatic acid phosphatase (PAP), with ongoing Phase 2 clinical trials for men at high risk of developing bone metastases following prostate cancer treatment. Initial trials have shown promising biological and biochemical activity. The second vaccine, pTVG-AR, aims to target the androgen receptor, a key driver of prostate cancer growth, and is expected to enter clinical trials soon. Additionally, Madison Vaccines is developing a companion diagnostic test based on a novel blood signature identified by the McNeel lab, which could help predict patient responses to these vaccines.
Cellectar Biosciences is a clinical-stage biopharmaceutical company specializing in the discovery, development, and commercialization of cancer therapies. Based in Florham Park, New Jersey, the company focuses on its proprietary phospholipid drug conjugate (PDC) platform, which aims to enhance the targeted delivery of cancer treatments while minimizing side effects. Its lead product candidate, CLR 131, is currently undergoing Phase II clinical trials for relapsed or refractory multiple myeloma and various B-cell malignancies. In addition, Cellectar is developing CLR 1900, a chemotherapeutic program aimed at solid tumors. The company also collaborates with several partners to advance various PDC programs, including those targeting specific cancer types. Originally established in 2002 as Novelos Therapeutics, Inc., Cellectar Biosciences has evolved through various name changes and strategic initiatives to focus on innovative cancer treatment solutions.

Silatronix

Venture Round in 2013
Silatronix, Inc. is a company based in Madison, Wisconsin, specializing in the development of organosilicon (OS) compounds and formulations for energy storage applications. Founded in 2007, the company focuses on creating organosilicon electrolytes used in both rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. Silatronix combines expert knowledge in organosilicon chemistry with advancements in nanostructured electrodes and the electronic properties of materials, aimed at enhancing the performance and efficiency of energy storage devices. Its innovative products are integral to the evolving landscape of energy storage technology.

Aerpio

Series A in 2013
Aerpio Pharmaceuticals is a biopharmaceutical company dedicated to developing innovative treatments for ocular diseases and diabetic complications. Its lead candidate, razuprotafib, is a small molecule that activates the Tie2 pathway and has completed a Phase IIb clinical trial for diabetic retinopathy. The company is also advancing ARP-1536, a humanized monoclonal antibody in preclinical stages for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently in a Phase 1b clinical trial for inflammatory bowel disease. Additionally, Aerpio is developing a bispecific antibody for wet age-related macular degeneration and diabetic macular edema. The company collaborates with Quantum Leap Healthcare Collaborative to evaluate razuprotafib for acute respiratory distress syndrome in COVID-19 patients. Founded in 2011 and headquartered in Cincinnati, Ohio, Aerpio emerged from a spin-out from Akebia Therapeutics, leveraging an experienced management team and an outsourced development model.

Aerpio

Series B in 2013
Aerpio Pharmaceuticals is a biopharmaceutical company dedicated to developing innovative treatments for ocular diseases and diabetic complications. Its lead candidate, razuprotafib, is a small molecule that activates the Tie2 pathway and has completed a Phase IIb clinical trial for diabetic retinopathy. The company is also advancing ARP-1536, a humanized monoclonal antibody in preclinical stages for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently in a Phase 1b clinical trial for inflammatory bowel disease. Additionally, Aerpio is developing a bispecific antibody for wet age-related macular degeneration and diabetic macular edema. The company collaborates with Quantum Leap Healthcare Collaborative to evaluate razuprotafib for acute respiratory distress syndrome in COVID-19 patients. Founded in 2011 and headquartered in Cincinnati, Ohio, Aerpio emerged from a spin-out from Akebia Therapeutics, leveraging an experienced management team and an outsourced development model.
Tissue Regeneration Systems Inc. is a start-up medical device company focused on skeletal reconstruction and bone regeneration technologies, licensed from the Universities of Michigan and Wisconsin. Established in 2005 and headquartered in Plymouth, Michigan, with a research facility in Ann Arbor and an additional office in Kirkland, Washington, the company targets applications in craniomaxillofacial surgery, orthopedic surgery, spine fusion surgery, and bone growth factor delivery. Its technology has undergone extensive evaluation in large animal studies, yielding promising long-term results. The company has developed initial product offerings, completed necessary bench and animal testing, and submitted its first regulatory filings to the FDA. Successful approval of these submissions will facilitate the commercialization of its products in the United States, with expectations to generate significant revenue within the next two to three years.

Nextt

Seed Round in 2013
Nextt, Inc. is a technology company based in Madison, Wisconsin, that specializes in developing web and mobile application software. The company's primary offering is a private networking platform designed to help close friends connect and organize social activities more effectively. By providing tools for sharing ideas and coordinating plans, Nextt simplifies the social planning process, allowing users to manage details such as participants, activities, timing, and locations in a secure environment. This approach encourages users to prioritize quality time with friends and fosters offline interactions.

UpTo

Series A in 2013
UpTo, Inc. is a company that specializes in developing a social calendar application for smartphones. Founded in 2011 and based in Detroit, Michigan, UpTo provides a platform that allows users to publish and manage their organization's calendar while privately connecting with friends, family, and colleagues to share events selectively. The application offers a streamlined view of important upcoming events, eliminating clutter and focusing on what matters most. Users can easily add events, syncing seamlessly across both mobile and web platforms, and can integrate with existing calendars such as Google Calendar and Outlook. The service is designed to cater to both individuals and organizations, enhancing the way they manage and share their schedules.

Akebia Therapeutics

Series C in 2013
Akebia Therapeutics, Inc. is a biopharmaceutical company dedicated to developing and commercializing treatments for kidney diseases. Its lead product, Auryxia, is a ferric citrate formulation used to manage serum phosphorus levels in adults with chronic kidney disease, particularly those on dialysis. The company is also advancing vadadustat, an oral therapy in Phase III development aimed at treating anemia in patients with chronic kidney disease, both on dialysis and non-dialysis. Akebia has formed collaboration agreements with Otsuka Pharmaceutical for the development of vadadustat in various global markets and with Mitsubishi Tanabe Pharma for its development in Japan and other Asian regions. Additionally, the company has a research and licensing agreement with Janssen Pharmaceutica for compounds targeting hypoxia-inducible factors. Founded in 2007, Akebia Therapeutics is headquartered in Cambridge, Massachusetts.

NetSocket

Series B in 2013
Netsocket specializes in virtualized, software-defined networking. The company’s flagship Netsocket Virtual Network (NVN) fulfills the promises of SDN and NFV today with powerful, robust automation applications running on a completely virtualized network infrastructure. It was founded in 2006 and headquartered in Plano, Texas.

BlueWillow Biologics

Series C in 2012
BlueWillow Biologics is a biopharmaceutical company based in Ann Arbor, Michigan, specializing in the development of intranasal vaccines and anti-infective products utilizing patented nanotechnology. Founded in 1999 as NanoBio Corporation, the company shifted its focus in 2016-2017 to intranasal applications after successful research funded by the Gates Foundation and NIH. Its innovative NanoStat vaccine technology utilizes an oil-in-water nanoemulsion to effectively deliver and enhance multiple types of antigens. BlueWillow's product portfolio includes vaccines targeting respiratory and sexually transmitted diseases such as pertussis, influenza, anthrax, HSV2, chlamydia, and HIV, along with NanoBio Protect, a nasal antiseptic solution. The company has established a licensing agreement with Merck for the use of its nanoemulsion adjuvant in intranasal vaccines for RSV and seasonal influenza, and maintains a strategic alliance with Public Health England.

ReShape Medical

Series C in 2012
ReShape Medical Inc. is a medical device company specializing in non-surgical weight loss solutions for individuals with mild to moderate obesity, specifically those with a Body Mass Index (BMI) of 30-40. The company offers the ReShape procedure, which utilizes a dual intragastric balloon system combined with a personalized one-year weight loss program, aimed at facilitating weight loss through lifestyle changes. This procedure is designed for adult patients who have not achieved success with diet and exercise alone. ReShape Medical operates through medical weight loss centers and is based in San Clemente, California. Originally founded as Abdominis, Inc. in 2005, the company was rebranded and operates as a subsidiary of ReShape Lifesciences Inc. The broader product portfolio of its parent company includes other minimally invasive devices for treating obesity and metabolic diseases.

NeuWave Medical

Series B in 2012
NeuWave Medical develops tools that deliver energy to the human body to treat a variety of serious medical conditions. Their company founders are both engineers and physician-scientists which allows determining a clinical need and design solutions that are clinically relevant, effective, and minimally invasive. They strive to make the highest quality devices that are the products of choice for leading physicians and medical centers around the world. The company was founded in 2004 and is headquartered in Madison, Wisconsin.

Aerpio

Series A in 2012
Aerpio Pharmaceuticals is a biopharmaceutical company dedicated to developing innovative treatments for ocular diseases and diabetic complications. Its lead candidate, razuprotafib, is a small molecule that activates the Tie2 pathway and has completed a Phase IIb clinical trial for diabetic retinopathy. The company is also advancing ARP-1536, a humanized monoclonal antibody in preclinical stages for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently in a Phase 1b clinical trial for inflammatory bowel disease. Additionally, Aerpio is developing a bispecific antibody for wet age-related macular degeneration and diabetic macular edema. The company collaborates with Quantum Leap Healthcare Collaborative to evaluate razuprotafib for acute respiratory distress syndrome in COVID-19 patients. Founded in 2011 and headquartered in Cincinnati, Ohio, Aerpio emerged from a spin-out from Akebia Therapeutics, leveraging an experienced management team and an outsourced development model.

Juventas Therapeutics

Series B in 2012
Juventas Therapeutics, Inc., a clinical stage biotechnology company, develops non-viral gene therapies that activate natural processes to repair the body. The company focuses on treatment of non-healing wounds in patients with advanced peripheral artery disease. It offers JVS-100, a non-viral gene therapy that expresses stromal cell-derived factor-1 or SDF-1, a naturally occurring signaling protein that has been shown to recruit the body’s own stem cells and promote tissue repair in a range of disease states. Juventas Therapeutics, Inc. was formerly known as AcelleRX Therapeutics, Inc. and changed its name to Juventas Therapeutics, Inc. in April 2009. The company was founded in 2007 and is based in Cleveland, Ohio.

Aerpio

Venture Round in 2012
Aerpio Pharmaceuticals is a biopharmaceutical company dedicated to developing innovative treatments for ocular diseases and diabetic complications. Its lead candidate, razuprotafib, is a small molecule that activates the Tie2 pathway and has completed a Phase IIb clinical trial for diabetic retinopathy. The company is also advancing ARP-1536, a humanized monoclonal antibody in preclinical stages for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently in a Phase 1b clinical trial for inflammatory bowel disease. Additionally, Aerpio is developing a bispecific antibody for wet age-related macular degeneration and diabetic macular edema. The company collaborates with Quantum Leap Healthcare Collaborative to evaluate razuprotafib for acute respiratory distress syndrome in COVID-19 patients. Founded in 2011 and headquartered in Cincinnati, Ohio, Aerpio emerged from a spin-out from Akebia Therapeutics, leveraging an experienced management team and an outsourced development model.

Akebia Therapeutics

Series B in 2011
Akebia Therapeutics, Inc. is a biopharmaceutical company dedicated to developing and commercializing treatments for kidney diseases. Its lead product, Auryxia, is a ferric citrate formulation used to manage serum phosphorus levels in adults with chronic kidney disease, particularly those on dialysis. The company is also advancing vadadustat, an oral therapy in Phase III development aimed at treating anemia in patients with chronic kidney disease, both on dialysis and non-dialysis. Akebia has formed collaboration agreements with Otsuka Pharmaceutical for the development of vadadustat in various global markets and with Mitsubishi Tanabe Pharma for its development in Japan and other Asian regions. Additionally, the company has a research and licensing agreement with Janssen Pharmaceutica for compounds targeting hypoxia-inducible factors. Founded in 2007, Akebia Therapeutics is headquartered in Cambridge, Massachusetts.

Euthymics Bioscience

Series A in 2011
Euthymics Bioscience, Inc. is a clinical-stage biopharmaceutical company based in Cambridge, Massachusetts, focused on developing innovative treatments for central nervous system disorders. Established in 2009, the company aims to address significant unmet medical needs in areas such as major depressive disorder and alcohol use disorder. Euthymics is developing EB-1010, a therapeutic designed to enhance treatment efficacy for patients who do not respond adequately to standard antidepressants, while minimizing common side effects like weight gain and cognitive impairment. Additionally, the company is working on therapies to assist individuals with withdrawal symptoms, impulsivity, and cravings associated with alcohol use and smoking cessation. Euthymics' research is particularly relevant given the high prevalence of these conditions, affecting millions of Americans.

Celleration

Series E in 2011
Celleration Inc. develops and commercializes therapeutic ultrasound healing technologies in the United States. It offers MIST Therapy, a noncontact and low frequency ultrasound solution delivered through a saline mist to the wound bed. The company serves patients, medical professionals, and payers. Celleration Inc. was formerly known as Advanced Medical Applications, Inc. The company was founded in 1999 and is based in Eden Prairie, Minnesota. As of May 29, 2015, Celleration, Inc. operates as a subsidiary of Alliqua BioMedical, Inc.

Mithridion

Series C in 2011
Mithridion, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on discovering and developing small molecule drugs to address unmet medical needs, particularly in the area of central nervous system disorders. The company targets serious chronic neurodegenerative diseases, including orphan diseases and schizophrenia. Its drug portfolio includes MCD-386CR, aimed at treating cognitive impairments associated with Progressive Supranuclear Palsy and other neurodegenerative conditions; MCD-386/glycopyrrolate, designed as a preventative therapy for genetically-defined presymptomatic mutation carriers of autosomal dominant Alzheimer’s disease; MI-08-016/035, which are candidates for common neurodegenerative diseases; and MI-10-022, targeting significant unmet needs in schizophrenia. Founded in 2004, Mithridion aims to provide innovative therapeutic solutions for complex neurological conditions.

HistoSonics

Series A in 2010
HistoSonics provides the Edison Platform, which uses advanced imaging and proprietary sensing technology to deliver non-invasive, personalized treatments with precision and control, and uses the science of histotripsy and focused sound energy to generate pressures to liquify and completely destroy targeted tissues at sub-cellular levels.

Inviragen

Series A in 2009
Inviragen is focused on developing life-saving vaccines to protect against emerging infectious diseases worldwide. Inviragen's lead product is a vaccine to protect against dengue fever, a disease that threatens 2.5 billion people across the globe. Inviragen is also developing a vaccine to protect against West Nile for the North American market, a nasal combination vaccine to protect against both plague and smallpox for biodefense, and a unique vaccine to protect against avian influenza for global markets.

Akebia Therapeutics

Series A in 2009
Akebia Therapeutics, Inc. is a biopharmaceutical company dedicated to developing and commercializing treatments for kidney diseases. Its lead product, Auryxia, is a ferric citrate formulation used to manage serum phosphorus levels in adults with chronic kidney disease, particularly those on dialysis. The company is also advancing vadadustat, an oral therapy in Phase III development aimed at treating anemia in patients with chronic kidney disease, both on dialysis and non-dialysis. Akebia has formed collaboration agreements with Otsuka Pharmaceutical for the development of vadadustat in various global markets and with Mitsubishi Tanabe Pharma for its development in Japan and other Asian regions. Additionally, the company has a research and licensing agreement with Janssen Pharmaceutica for compounds targeting hypoxia-inducible factors. Founded in 2007, Akebia Therapeutics is headquartered in Cambridge, Massachusetts.

BlueWillow Biologics

Series B in 2009
BlueWillow Biologics is a biopharmaceutical company based in Ann Arbor, Michigan, specializing in the development of intranasal vaccines and anti-infective products utilizing patented nanotechnology. Founded in 1999 as NanoBio Corporation, the company shifted its focus in 2016-2017 to intranasal applications after successful research funded by the Gates Foundation and NIH. Its innovative NanoStat vaccine technology utilizes an oil-in-water nanoemulsion to effectively deliver and enhance multiple types of antigens. BlueWillow's product portfolio includes vaccines targeting respiratory and sexually transmitted diseases such as pertussis, influenza, anthrax, HSV2, chlamydia, and HIV, along with NanoBio Protect, a nasal antiseptic solution. The company has established a licensing agreement with Merck for the use of its nanoemulsion adjuvant in intranasal vaccines for RSV and seasonal influenza, and maintains a strategic alliance with Public Health England.

ProCertus BioPharm

Venture Round in 2009
ProCertus BioPharm, Inc., an oncology-based pharmaceutical company, develops therapeutics to protect cancer patients from the side effects of radiotherapy and chemotherapy in the United States. Its products include ProDermaCel that protects cancer patients from chemotherapy- and radiotherapy-induced alopecia; DermX, which prevents radiotherapy-induced dermatitis; and OralX that provides protection against chemotherapy- and radiotherapy- induced oral mucositis. ProCertus BioPharm, Inc. was founded in 1997 and is based in Madison, Wisconsin.

Alcon LenSx

Series B in 2009
Alcon LenSx specializes in the manufacturing of advanced surgical lasers designed for cataract surgery. The company offers a next-generation femtosecond laser system that operates inside the eye to facilitate cataract removal. This innovative technology not only focuses on cataract repair but also integrates multiple refractive surgical procedures related to the cornea and lens. Alcon LenSx is committed to enhancing surgical precision and improving patient outcomes through its cutting-edge laser solutions.

Mithridion

Series B in 2009
Mithridion, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on discovering and developing small molecule drugs to address unmet medical needs, particularly in the area of central nervous system disorders. The company targets serious chronic neurodegenerative diseases, including orphan diseases and schizophrenia. Its drug portfolio includes MCD-386CR, aimed at treating cognitive impairments associated with Progressive Supranuclear Palsy and other neurodegenerative conditions; MCD-386/glycopyrrolate, designed as a preventative therapy for genetically-defined presymptomatic mutation carriers of autosomal dominant Alzheimer’s disease; MI-08-016/035, which are candidates for common neurodegenerative diseases; and MI-10-022, targeting significant unmet needs in schizophrenia. Founded in 2004, Mithridion aims to provide innovative therapeutic solutions for complex neurological conditions.

Silatronix

Seed Round in 2008
Silatronix, Inc. is a company based in Madison, Wisconsin, specializing in the development of organosilicon (OS) compounds and formulations for energy storage applications. Founded in 2007, the company focuses on creating organosilicon electrolytes used in both rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. Silatronix combines expert knowledge in organosilicon chemistry with advancements in nanostructured electrodes and the electronic properties of materials, aimed at enhancing the performance and efficiency of energy storage devices. Its innovative products are integral to the evolving landscape of energy storage technology.
Tissue Regeneration Systems Inc. is a start-up medical device company focused on skeletal reconstruction and bone regeneration technologies, licensed from the Universities of Michigan and Wisconsin. Established in 2005 and headquartered in Plymouth, Michigan, with a research facility in Ann Arbor and an additional office in Kirkland, Washington, the company targets applications in craniomaxillofacial surgery, orthopedic surgery, spine fusion surgery, and bone growth factor delivery. Its technology has undergone extensive evaluation in large animal studies, yielding promising long-term results. The company has developed initial product offerings, completed necessary bench and animal testing, and submitted its first regulatory filings to the FDA. Successful approval of these submissions will facilitate the commercialization of its products in the United States, with expectations to generate significant revenue within the next two to three years.

NERITES

Series A in 2008
At Nerites, they combine world class technology with a management team that has a proven track record of bringing technical innovation to market. The company was founded in 2004 to commercialize a new generation of synthetic biomaterials that can enhance natural tissue repair, reduce complications from traditional devices, and degrade safely when they are no longer needed.

NeuWave Medical

Series A in 2008
NeuWave Medical develops tools that deliver energy to the human body to treat a variety of serious medical conditions. Their company founders are both engineers and physician-scientists which allows determining a clinical need and design solutions that are clinically relevant, effective, and minimally invasive. They strive to make the highest quality devices that are the products of choice for leading physicians and medical centers around the world. The company was founded in 2004 and is headquartered in Madison, Wisconsin.

Pattern Insight

Series A in 2008
Pattern Insight brings powerful search and data mining technology to the advanced, real-time analysis of every type of engineering and IT data. Pattern Insight have two products. Log Insight is a Big Data analytics and log management platform for analyzing large amounts of machine-generated data in real time. It is used for operational analytics in traditional data center and cloud environments. Log Insight, together with its team and technology has been acquired by VMware in July 2012. Code Insight is a product that identifies and removes all ‘known’ (previously fixed) defects in source code before it is released. Current customers include Cisco, Intel, Qualcomm, Tellabs and Motorola.

Cellectar Biosciences

Venture Round in 2008
Cellectar Biosciences is a clinical-stage biopharmaceutical company specializing in the discovery, development, and commercialization of cancer therapies. Based in Florham Park, New Jersey, the company focuses on its proprietary phospholipid drug conjugate (PDC) platform, which aims to enhance the targeted delivery of cancer treatments while minimizing side effects. Its lead product candidate, CLR 131, is currently undergoing Phase II clinical trials for relapsed or refractory multiple myeloma and various B-cell malignancies. In addition, Cellectar is developing CLR 1900, a chemotherapeutic program aimed at solid tumors. The company also collaborates with several partners to advance various PDC programs, including those targeting specific cancer types. Originally established in 2002 as Novelos Therapeutics, Inc., Cellectar Biosciences has evolved through various name changes and strategic initiatives to focus on innovative cancer treatment solutions.

Deltanoid Pharmaceuticals

Series B in 2007
Deltanoid Pharmaceuticals is a biopharmaceutical company based in Madison, Wisconsin, focused on the research, development, and commercialization of therapies for various human diseases, including renal diseases, osteoporosis, and skin conditions. Founded in 1999, the company initially aimed to advance university inventions, particularly vitamin D analogs and other compounds licensed from the Wisconsin Alumni Research Foundation. Deltanoid's notable products include DP001, which targets secondary hyperparathyroidism in patients with chronic kidney disease undergoing hemodialysis, and DP006 for acne treatment. The company is dedicated to developing selected therapies through the early phases of drug development and actively seeks partnerships for later-stage development and commercialization. Currently, Deltanoid has a partnership with Novadiol, Inc. for the development of a vitamin D therapy.

Virent

Series B in 2007
Virent Energy Systems, Inc. is an energy technology company based in Madison, Wisconsin, specializing in the production of hydrocarbon chemicals and fuels from plant sugars. Utilizing its patented BioForming technology, Virent converts various bio-based feedstocks, such as beet sugar, sugar cane, corn starch, and cellulosic materials like bagasse and corn stover, into products that are chemically identical to petroleum-derived fuels and chemicals. The company’s offerings include gasoline, diesel, jet fuel, and bio-aromatic compounds used in a variety of applications, such as paints, textiles, and automotive products. Virent has established strategic partnerships with notable companies, including Royal Dutch Shell and The Coca-Cola Company, to further its mission of providing renewable alternatives to fossil fuels. Founded in 2002, Virent operates as a subsidiary of Marathon Petroleum Corporation.

ProCertus BioPharm

Series A in 2007
ProCertus BioPharm, Inc., an oncology-based pharmaceutical company, develops therapeutics to protect cancer patients from the side effects of radiotherapy and chemotherapy in the United States. Its products include ProDermaCel that protects cancer patients from chemotherapy- and radiotherapy-induced alopecia; DermX, which prevents radiotherapy-induced dermatitis; and OralX that provides protection against chemotherapy- and radiotherapy- induced oral mucositis. ProCertus BioPharm, Inc. was founded in 1997 and is based in Madison, Wisconsin.

Incept

Series A in 2007
Incept BioSystems develops innovative microscale technologies that provide fertility specialists breakthrough capabilities to treat infertility. Our technologies improve the in vitro manipulation, performance, and viability of high-value cells, and our mission is to set the standard for next-generation clinical devices for the Assisted Reproductive Technology (ART) laboratory. Like many specialized cells, human embryos typically behave much differently while in vitro than they would in the body, and this performance gap can limit their developmental growth and potentially their viability. Incept’s System for Microfluidic Assisted Reproductive Technology (SMART) platform is the first to deliver unique control of in vitro cell culture environments so that fertility specialists can offer patients new hope in starting a family.

Mithridion

Series A in 2007
Mithridion, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on discovering and developing small molecule drugs to address unmet medical needs, particularly in the area of central nervous system disorders. The company targets serious chronic neurodegenerative diseases, including orphan diseases and schizophrenia. Its drug portfolio includes MCD-386CR, aimed at treating cognitive impairments associated with Progressive Supranuclear Palsy and other neurodegenerative conditions; MCD-386/glycopyrrolate, designed as a preventative therapy for genetically-defined presymptomatic mutation carriers of autosomal dominant Alzheimer’s disease; MI-08-016/035, which are candidates for common neurodegenerative diseases; and MI-10-022, targeting significant unmet needs in schizophrenia. Founded in 2004, Mithridion aims to provide innovative therapeutic solutions for complex neurological conditions.

Virent

Series A in 2006
Virent Energy Systems, Inc. is an energy technology company based in Madison, Wisconsin, specializing in the production of hydrocarbon chemicals and fuels from plant sugars. Utilizing its patented BioForming technology, Virent converts various bio-based feedstocks, such as beet sugar, sugar cane, corn starch, and cellulosic materials like bagasse and corn stover, into products that are chemically identical to petroleum-derived fuels and chemicals. The company’s offerings include gasoline, diesel, jet fuel, and bio-aromatic compounds used in a variety of applications, such as paints, textiles, and automotive products. Virent has established strategic partnerships with notable companies, including Royal Dutch Shell and The Coca-Cola Company, to further its mission of providing renewable alternatives to fossil fuels. Founded in 2002, Virent operates as a subsidiary of Marathon Petroleum Corporation.

Chromatin

Venture Round in 2006
Chromatin is a biotechnology company focused on developing and marketing innovative agricultural products, particularly hybrid, drought-tolerant sorghum seeds. By utilizing advanced breeding methodologies and combining diverse sorghum varieties, Chromatin aims to meet the growing demand for sustainable agricultural systems. Its products are designed to thrive in various climates, making them suitable for cultivation on over 80% of the world's agricultural land. This versatility enables farmers to optimize crop production for both traditional agricultural markets and bio-industrial applications, which include the creation of renewable chemicals, materials, and fuels. Through these efforts, Chromatin addresses key societal challenges related to agricultural productivity and renewable energy resources.

Zystor

Series A in 2004
ZyStor Therapeutics, Inc. is a privately-held biotechnology company developing enzyme replacement therapies for the treatment of lysosomal storage diseases.

Roche NimbleGen

Series F in 2004
Roche NimbleGen specializes in providing a range of products and services for the life science research market, particularly in DNA sequencing and microarray technology. The company offers the SeqCap EZ system, which allows for exome enrichment in a single test tube, along with various design options and reagents to facilitate workflow. Additionally, Roche NimbleGen has developed the SeqCap Epi system for DNA methylation assessment at single-base resolution, and it supplies preparation and adapter kits for library construction. Their proprietary Maskless Array Synthesis technology enables the creation of custom high-density DNA arrays, enhancing the quality and data yield of sequencing efforts. The company also provides a suite of DNA microarray products for applications such as comparative genomic hybridization and gene expression analysis, alongside technical support services. Founded in 1999 and based in Madison, Wisconsin, Roche NimbleGen operates as a subsidiary of Roche Holding AG.

Roche NimbleGen

Series D in 2003
Roche NimbleGen specializes in providing a range of products and services for the life science research market, particularly in DNA sequencing and microarray technology. The company offers the SeqCap EZ system, which allows for exome enrichment in a single test tube, along with various design options and reagents to facilitate workflow. Additionally, Roche NimbleGen has developed the SeqCap Epi system for DNA methylation assessment at single-base resolution, and it supplies preparation and adapter kits for library construction. Their proprietary Maskless Array Synthesis technology enables the creation of custom high-density DNA arrays, enhancing the quality and data yield of sequencing efforts. The company also provides a suite of DNA microarray products for applications such as comparative genomic hybridization and gene expression analysis, alongside technical support services. Founded in 1999 and based in Madison, Wisconsin, Roche NimbleGen operates as a subsidiary of Roche Holding AG.

Chromatin

Series A in 2002
Chromatin is a biotechnology company focused on developing and marketing innovative agricultural products, particularly hybrid, drought-tolerant sorghum seeds. By utilizing advanced breeding methodologies and combining diverse sorghum varieties, Chromatin aims to meet the growing demand for sustainable agricultural systems. Its products are designed to thrive in various climates, making them suitable for cultivation on over 80% of the world's agricultural land. This versatility enables farmers to optimize crop production for both traditional agricultural markets and bio-industrial applications, which include the creation of renewable chemicals, materials, and fuels. Through these efforts, Chromatin addresses key societal challenges related to agricultural productivity and renewable energy resources.
Intersymbol Communications, Inc. develops and manufactures high-speed physical layer components for next generation broadband networking systems. Intersymbol's innovative products enhance the bandwidth and reach while simultaneously reducing the power consumption of broadband networks. This results in a dramatic reduction in deployment cost for next generation network providers.

Celleration

Series B in 2002
Celleration Inc. develops and commercializes therapeutic ultrasound healing technologies in the United States. It offers MIST Therapy, a noncontact and low frequency ultrasound solution delivered through a saline mist to the wound bed. The company serves patients, medical professionals, and payers. Celleration Inc. was formerly known as Advanced Medical Applications, Inc. The company was founded in 1999 and is based in Eden Prairie, Minnesota. As of May 29, 2015, Celleration, Inc. operates as a subsidiary of Alliqua BioMedical, Inc.

Roche NimbleGen

Series B in 2001
Roche NimbleGen specializes in providing a range of products and services for the life science research market, particularly in DNA sequencing and microarray technology. The company offers the SeqCap EZ system, which allows for exome enrichment in a single test tube, along with various design options and reagents to facilitate workflow. Additionally, Roche NimbleGen has developed the SeqCap Epi system for DNA methylation assessment at single-base resolution, and it supplies preparation and adapter kits for library construction. Their proprietary Maskless Array Synthesis technology enables the creation of custom high-density DNA arrays, enhancing the quality and data yield of sequencing efforts. The company also provides a suite of DNA microarray products for applications such as comparative genomic hybridization and gene expression analysis, alongside technical support services. Founded in 1999 and based in Madison, Wisconsin, Roche NimbleGen operates as a subsidiary of Roche Holding AG.

Corona Optical Systems

Series A in 2001
Corona Optical Systems is a high-technology company based in Lombard, Illinois, with additional facilities in Eau Claire, Wisconsin, and San Jose, California. Founded in February 2000, the company specializes in the development and manufacturing of optoelectronic components and subsystems designed for carrier-class equipment. Its primary focus includes creating parallel optical modules that are utilized in switching and routing technologies. As a privately held corporation, Corona has attracted venture capital funding to support its growth, including a significant institutional investment round in 2001 led by Intel Capital and involving several other prominent venture firms.

IntraLase Corporation

Venture Round in 2000
IntraLase Corporation is a leader in the first step of LASIK surgery, the most common means of surgical vision correction. They design, develop and market a laser, related software and disposable devices used to create a cut of tissue across the cornea of a patient’s eye, or a corneal flap, which is the first step in LASIK surgery. Their advanced laser technology improves the safety, precision and visual acuity of LASIK surgery by providing a computer-controlled laser solution as an alternative to the traditional method of creating the corneal flap using a hand-held mechanical, metal-bladed device called a microkeratome. They believe their product offering will become the new standard of care for corneal flap creation. As of April 2, 2007, IntraLase Corp. was acquired by Advanced Medical Optics Inc.
SoftSwitching Technologies offer the most affordable, effective and scalable power quality and monitoring solutions available on the market. A full array of scalable, battery-free DySC products. I-Sense intelligent sensors that pinpoint time and duration of voltage sags. And Grid Alert™ event notifications—the only global power reporting and notification network in the world.

Gala Biotech

Venture Round in 2000
Gala Biotech, a Catalent Pharma Solutions Company, was established in 1996 from technology developed at the University of Wisconsin. Located in Middleton, Wisconsin, this rapidly growing company (currently over 40 employees, including 16 PhD’s) has a wide range of capabilities in the fields of molecular biology, vector biology, cell line development, biopharmaceutical manufacturing, protein biochemistry, and quality systems. Gala’s core proprietary technology is GPEx® (Gene Product Expression), a gene insertion/expression technology that allows rapid creation of stable, high-expressing mammalian cell lines for a wide variety of gene products. "Gala" is Greek for milk, and the company's original mission was to produce pharmaceutical proteins in the milk of transgenic cows. The gene insertion technology that Gala developed to generate transgenic animals became the basis of Gala's Gene Product Expression or GPEx® technology for production of recombinant proteins in mammalian cell culture. The genomics revolution has led to the identification of thousands of new genes, and the race is now on to discover, characterize and stably express the protein products of these genes in order to develop new therapeutic proteins. Gala's GPEx® technology, when applied to mammalian cell culture, accelerates this process for its biopharmaceutical partners. Once new therapeutic proteins have been identified for clinical development, production support becomes a major challenge. Gala's mission is to meet this need, and the company has recently established a 43,000 square-foot facility in Middleton, Wisconsin devoted to GPEx®-based cell line development and cGMP-compliant protein production.

Alfalight

Series A in 2000
Alfalight specializes in the design and manufacture of high-power diode lasers tailored for industrial, defense, and telecommunications applications. The company utilizes advanced aluminum-free active region (ALFA) laser structures, which contribute to the production of laser diodes that are noted for their high reliability and efficiency. Alfalight's product range includes short-wave infrared, near-infrared, and visible lasers, alongside various laser and electro-optical systems. These innovations position Alfalight as a key player in meeting the demands of both security and telecommunication sectors.

TomoTherapy

Series A in 1999
TomoTherapy develops, markets and sells advanced radiation therapy solutions that can be used to treat a wide variety of cancers, from the most common to the most complex. The ring gantry-based TomoTherapy:registered: platform combines integrated CT imaging with conformal radiation therapy to deliver sophisticated radiation treatments with speed and precision while reducing radiation exposure to surrounding healthy tissue. TomoTherapy’s suite of solutions include its Hi·Art:registered: treatment system, which has been used to deliver more than three million CT-guided, helical intensity-modulated radiation therapy (IMRT) treatment fractions; the TomoHD:tm: treatment system, designed to enable cancer centers to treat a broader patient population with a single device; and the TomoMobile:tm: relocatable radiation therapy solution, designed to improve access and availability of state-of-the-art cancer care. As of February 2011, there are more than 350 TomoTherapy systems in use in 24 countries worldwide. TomoTherapy’s stock is traded on the NASDAQ Global Select Market under the symbol TOMO. To learn more about TomoTherapy, please visit TomoTherapy.com.

Third Wave Technologies

Series A in 1994
Third Wave Technologies, Inc. is involved in the development and marketing of molecular diagnostic products that cater to a range of DNA and RNA analysis applications. The company provides innovative solutions for physicians and researchers focused on disease analysis and treatment. Its proprietary Invader chemistry is utilized across several segments, including women's health, infectious diseases, genetics, pharmacogenetics, and oncology. Third Wave offers in vitro diagnostic devices and analyte-specific reagents that enable laboratories to perform various assays, such as hepatitis C virus genotyping and testing for inherited disorders and genetic mutations. Additionally, the company develops products for research and agricultural biotechnology markets. Its clientele comprises clinical laboratories, pharmaceutical and biotechnology companies, academic institutions, and healthcare providers. Third Wave employs direct sales strategies and collaborative partnerships to market its products in the United States and Europe. Founded in 1993, Third Wave Technologies is headquartered in Madison, Wisconsin, and is currently a subsidiary of Hologic Inc.

Promega

Venture Round in 1984
Promega Corporation, founded in 1978 and based in Madison, Wisconsin, produces a diverse range of reagents and instrumentation for research, pharmaceutical, and diagnostics laboratories. The company offers over 2,000 products that support various applications, including cell biology, nucleic acid analysis, protein analysis, and molecular diagnostics. Its offerings encompass tools for drug discovery, clinical research, forensic analysis, and human identification. In addition to standard products, Promega provides custom manufacturing, assay development, and automation solutions to enhance efficiency and precision in laboratory procedures. The company distributes its products globally, catering to the needs of researchers and clinicians in multiple scientific fields.
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