Novitas Capital

Novitas Capital is a Pennsylvania-based venture capital firm founded in 1997, specializing in seed, start-up, and early-stage investments in technology and life science sectors. With a focus on identifying innovative companies at their earliest stages, Novitas Capital conducts thorough evaluations before leading investment rounds and actively supporting the growth of its portfolio companies. The firm prioritizes investments characterized by strong intellectual capital, proven leadership, and unique market positioning. Over the years, Novitas has successfully developed its portfolio, which currently includes approximately 30 active companies, while managing around $237 million across three venture funds. The firm's operations extend beyond Wayne, Pennsylvania, with additional offices in Pittsburgh, Allendale, and Morgantown.

Michael Bolton

Managing Director

Robert M. McCord

Managing Director

Chris Rolfe

Partner

41 past transactions

Cernostics

Venture Round in 2016
Cernostics, Inc. is a diagnostics company based in Pittsburgh, Pennsylvania, specializing in cancer diagnostics and prognostics through a tissue systems biology approach. Founded in 2008, Cernostics develops the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess the risk for patients with Barrett’s esophagus, thereby reducing uncertainty in treatment decisions for gastroenterologists. The company's patent-protected TissueCypher platform analyzes whole slide digital images using multiplexed fluorescence, enhancing the accuracy of traditional tissue diagnostics by evaluating tumors as complex systems comprised of multiple cell types. Additionally, Cernostics operates a high-complexity clinical reference laboratory that supports biomarker discovery, validation, and clinical trial efforts, ultimately aiming to improve patient outcomes and reduce healthcare costs. The company has established a strategic collaboration with Deciphex Limited to further its capabilities in spatial biology and AI-driven image analytics.

Cernostics

Series B in 2013
Cernostics, Inc. is a diagnostics company based in Pittsburgh, Pennsylvania, specializing in cancer diagnostics and prognostics through a tissue systems biology approach. Founded in 2008, Cernostics develops the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess the risk for patients with Barrett’s esophagus, thereby reducing uncertainty in treatment decisions for gastroenterologists. The company's patent-protected TissueCypher platform analyzes whole slide digital images using multiplexed fluorescence, enhancing the accuracy of traditional tissue diagnostics by evaluating tumors as complex systems comprised of multiple cell types. Additionally, Cernostics operates a high-complexity clinical reference laboratory that supports biomarker discovery, validation, and clinical trial efforts, ultimately aiming to improve patient outcomes and reduce healthcare costs. The company has established a strategic collaboration with Deciphex Limited to further its capabilities in spatial biology and AI-driven image analytics.

Cernostics

Venture Round in 2013
Cernostics, Inc. is a diagnostics company based in Pittsburgh, Pennsylvania, specializing in cancer diagnostics and prognostics through a tissue systems biology approach. Founded in 2008, Cernostics develops the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess the risk for patients with Barrett’s esophagus, thereby reducing uncertainty in treatment decisions for gastroenterologists. The company's patent-protected TissueCypher platform analyzes whole slide digital images using multiplexed fluorescence, enhancing the accuracy of traditional tissue diagnostics by evaluating tumors as complex systems comprised of multiple cell types. Additionally, Cernostics operates a high-complexity clinical reference laboratory that supports biomarker discovery, validation, and clinical trial efforts, ultimately aiming to improve patient outcomes and reduce healthcare costs. The company has established a strategic collaboration with Deciphex Limited to further its capabilities in spatial biology and AI-driven image analytics.

Agile Therapeutics

Series C in 2012
Agile Therapeutics, Inc. is a women's healthcare company dedicated to developing and commercializing prescription contraceptive products. The company’s lead product, Twirla, is a once-weekly transdermal contraceptive patch that delivers a low dose of levonorgestrel and ethinyl estradiol. Agile Therapeutics is also advancing a pipeline of related products, including various line extensions of Twirla and additional transdermal contraceptive options. These include regimens designed to extend menstrual cycles or provide shorter and lighter periods, as well as a progestin-only patch intended for women who cannot or prefer not to use estrogen. Founded in 1997 and headquartered in Princeton, New Jersey, Agile Therapeutics aims to address the unmet healthcare needs of women through innovative contraceptive solutions.

Nistica

Series D in 2011
Nistica, Inc. is a supplier of optical networking modules based in Bridgewater, New Jersey. Founded in 2005, the company specializes in developing and manufacturing products that facilitate high-bandwidth applications for optical system original equipment manufacturers (OEMs) globally. Nistica's offerings include reconfigurable optical add/drop multiplexer (ROADM) subsystems, low port-count wavelength selective switch modules, and high port-count products designed to enhance network flexibility and efficiency. Their FLEXBOX, a disaggregated ROADM node, is tailored for software-defined networks, while the company's wave blocker arrays provide optical programmability for customizable channel spacing. Nistica's solutions aim to simplify and automate the delivery of optical services, addressing both edge and metro core networking needs. In 2012, Nistica was acquired by Molex Optical Solutions Group.
TetraLogic Pharmaceuticals is a privately held biopharmaceutical company focused on discovering and developing small molecule drugs aimed at treating serious diseases. The company specializes in therapies that modulate programmed cell death pathways. Its Smac Mimetics are designed to target and neutralize obstacles in the apoptosis pathway, enabling the selective destruction of cancer cells. Additionally, TetraLogic's Necrostatin drugs work by blocking key processes that lead to necrosis, promoting cell survival in various diseases and conditions where necrosis plays a significant role in the pathology. Through its innovative approach, TetraLogic aims to address critical unmet medical needs in oncology and beyond.
TetraLogic Pharmaceuticals is a privately held biopharmaceutical company focused on discovering and developing small molecule drugs aimed at treating serious diseases. The company specializes in therapies that modulate programmed cell death pathways. Its Smac Mimetics are designed to target and neutralize obstacles in the apoptosis pathway, enabling the selective destruction of cancer cells. Additionally, TetraLogic's Necrostatin drugs work by blocking key processes that lead to necrosis, promoting cell survival in various diseases and conditions where necrosis plays a significant role in the pathology. Through its innovative approach, TetraLogic aims to address critical unmet medical needs in oncology and beyond.

Agile Therapeutics

Series B in 2010
Agile Therapeutics, Inc. is a women's healthcare company dedicated to developing and commercializing prescription contraceptive products. The company’s lead product, Twirla, is a once-weekly transdermal contraceptive patch that delivers a low dose of levonorgestrel and ethinyl estradiol. Agile Therapeutics is also advancing a pipeline of related products, including various line extensions of Twirla and additional transdermal contraceptive options. These include regimens designed to extend menstrual cycles or provide shorter and lighter periods, as well as a progestin-only patch intended for women who cannot or prefer not to use estrogen. Founded in 1997 and headquartered in Princeton, New Jersey, Agile Therapeutics aims to address the unmet healthcare needs of women through innovative contraceptive solutions.

Cernostics

Series A in 2010
Cernostics, Inc. is a diagnostics company based in Pittsburgh, Pennsylvania, specializing in cancer diagnostics and prognostics through a tissue systems biology approach. Founded in 2008, Cernostics develops the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess the risk for patients with Barrett’s esophagus, thereby reducing uncertainty in treatment decisions for gastroenterologists. The company's patent-protected TissueCypher platform analyzes whole slide digital images using multiplexed fluorescence, enhancing the accuracy of traditional tissue diagnostics by evaluating tumors as complex systems comprised of multiple cell types. Additionally, Cernostics operates a high-complexity clinical reference laboratory that supports biomarker discovery, validation, and clinical trial efforts, ultimately aiming to improve patient outcomes and reduce healthcare costs. The company has established a strategic collaboration with Deciphex Limited to further its capabilities in spatial biology and AI-driven image analytics.

Logical Therapeutics

Series C in 2010
Logical Therapeutics, Inc., a biopharmaceutical company, engages in the development of drugs to treat diseases caused by or associated with excessive inflammation. Its products include LT-NS001, a non-steroidal anti-inflammatory drug for the treatment of chronic inflammatory conditions, such as osteoarthritis; Leptin, a hormone for the regulation of normal body mass and metabolism; and TNF, a hormone that promotes the proliferation of hepatocytes. The company was founded in 2005 and is based in Waltham, Massachusetts.

Nistica

Series C in 2010
Nistica, Inc. is a supplier of optical networking modules based in Bridgewater, New Jersey. Founded in 2005, the company specializes in developing and manufacturing products that facilitate high-bandwidth applications for optical system original equipment manufacturers (OEMs) globally. Nistica's offerings include reconfigurable optical add/drop multiplexer (ROADM) subsystems, low port-count wavelength selective switch modules, and high port-count products designed to enhance network flexibility and efficiency. Their FLEXBOX, a disaggregated ROADM node, is tailored for software-defined networks, while the company's wave blocker arrays provide optical programmability for customizable channel spacing. Nistica's solutions aim to simplify and automate the delivery of optical services, addressing both edge and metro core networking needs. In 2012, Nistica was acquired by Molex Optical Solutions Group.

BPL Global

Venture Round in 2009
BPL Global provides electric utilities with a suite of smart grid solutions that support advanced distribution automation from substations through customer premises. Our solutions collaborate across the grid, helping utilities increase efficiency and reliability to improve their financial, operational and environmental performance. BPLG combines our experience in applying smart grid solutions with our market-leading technology to successfully serve leading utilities.

ClickEquations

Venture Round in 2009
ClickEquations provides a powerful pay per click software platform that enables advertisers and agencies to manage large paid search campaigns more effectively and efficiently. ClickEquations combines access to Google, Yahoo!, and MSN campaigns in a single web interface with bid management, campaign editing and reporting features. An advanced Excel plug-in, ClickEquations Analyst, provides unprecedented analytics depth and flexibility as well customizable and sharable reports and dashboards.

BPL Global

Venture Round in 2008
BPL Global provides electric utilities with a suite of smart grid solutions that support advanced distribution automation from substations through customer premises. Our solutions collaborate across the grid, helping utilities increase efficiency and reliability to improve their financial, operational and environmental performance. BPLG combines our experience in applying smart grid solutions with our market-leading technology to successfully serve leading utilities.

TOA Technologies

Series C in 2008
TOA Technologies specializes in field service management software designed for businesses that operate in the field. Their flagship product, ETAdirect, is a cloud-based solution that utilizes a patented time-based predictive analytics platform. ETAdirect analyzes how work is performed by individual employees, identifies patterns, and predicts the most efficient routes based on real-time data. This system communicates updates to consumers throughout the service process, enhancing transparency and engagement. By implementing ETAdirect, TOA's clients can improve the effectiveness of their field service teams, leading to reduced customer wait times and increased productivity in service operations.

Nistica

Series B in 2008
Nistica, Inc. is a supplier of optical networking modules based in Bridgewater, New Jersey. Founded in 2005, the company specializes in developing and manufacturing products that facilitate high-bandwidth applications for optical system original equipment manufacturers (OEMs) globally. Nistica's offerings include reconfigurable optical add/drop multiplexer (ROADM) subsystems, low port-count wavelength selective switch modules, and high port-count products designed to enhance network flexibility and efficiency. Their FLEXBOX, a disaggregated ROADM node, is tailored for software-defined networks, while the company's wave blocker arrays provide optical programmability for customizable channel spacing. Nistica's solutions aim to simplify and automate the delivery of optical services, addressing both edge and metro core networking needs. In 2012, Nistica was acquired by Molex Optical Solutions Group.

Cellumen

Series B in 2007
Cellumen specializes in cellular systems biology solutions that enhance drug discovery and safety assessment processes for biopharmaceutical researchers. By providing advanced tools for early safety evaluation and discovery toxicology, Cellumen helps organizations improve the accuracy of predicting drug efficacy and safety, ultimately reducing failure rates and development costs. The company's innovative approach addresses the complexities of disease and safety, making it a valuable partner for leading institutions such as the Mayo Clinic, Hamamatsu Photonics K.K., the EPA, FDA, NIH, and prominent pharmaceutical companies. Through its commitment to advancing drug development, Cellumen plays a crucial role in the biopharmaceutical industry.

LifeShield

Series C in 2007
LifeShield is a provider of wireless home security systems, distinguished by its professional-grade monitoring and superior protection. Unlike traditional security systems, which are often either ineffective or costly, LifeShield offers an affordable alternative without compromising on quality. The company has developed a comprehensive suite of features, including fire and carbon monoxide sensors, cameras, and live video monitoring capabilities, catering to a wide range of needs, from residential homes to home offices. LifeShield stands out for its commitment to remote access, allowing customers to manage their security systems easily through mobile applications, without incurring additional monitoring fees. This focus on convenience and reliability enables customers to enjoy enhanced control over their home protection.

Logical Therapeutics

Series B in 2007
Logical Therapeutics, Inc., a biopharmaceutical company, engages in the development of drugs to treat diseases caused by or associated with excessive inflammation. Its products include LT-NS001, a non-steroidal anti-inflammatory drug for the treatment of chronic inflammatory conditions, such as osteoarthritis; Leptin, a hormone for the regulation of normal body mass and metabolism; and TNF, a hormone that promotes the proliferation of hepatocytes. The company was founded in 2005 and is based in Waltham, Massachusetts.

E-Duction

Series B in 2007
E-Duction is at the forefront of the evolving payment industry – paying for goods and services via payroll deduction. The current advent of consumerism is creating demand for more complex payroll deduction products, including variable and dynamic products in which the deduction/payment amount may change each month. E-Duction's transaction processing capabilities make possible a wide range of profitable, consumer-friendly payroll deduction-based services which meet the key demands of today's large and small employers alike.

BPL Global

Series C in 2007
BPL Global provides electric utilities with a suite of smart grid solutions that support advanced distribution automation from substations through customer premises. Our solutions collaborate across the grid, helping utilities increase efficiency and reliability to improve their financial, operational and environmental performance. BPLG combines our experience in applying smart grid solutions with our market-leading technology to successfully serve leading utilities.

Ventaira Pharmaceuticals

Series C in 2005
Ventaira Pharmaceuticals is an emerging specialty pharmaceutical company dedicated to the development of innovative inhalation products. The company employs its proprietary electrohydrodynamic aerosolization and formulation technologies to create new inhaled drugs. Among its key products are fentanyl, aimed at treating breakthrough pain, and salmeterol, used for asthma management. Ventaira Pharmaceuticals focuses on advancing its unique technologies to enhance drug delivery and improve treatment options for patients.

Renal Solutions

Series B in 2005
Renal Solutions is focused on the development of dialysis products and services. Renal Solutions was acquired by Fresenius Medical Care in November 2007. Renal Solutions was founded in 2000 and is based in Warrendale, Pennsylvania.

LifeShield

Series A in 2004
LifeShield is a provider of wireless home security systems, distinguished by its professional-grade monitoring and superior protection. Unlike traditional security systems, which are often either ineffective or costly, LifeShield offers an affordable alternative without compromising on quality. The company has developed a comprehensive suite of features, including fire and carbon monoxide sensors, cameras, and live video monitoring capabilities, catering to a wide range of needs, from residential homes to home offices. LifeShield stands out for its commitment to remote access, allowing customers to manage their security systems easily through mobile applications, without incurring additional monitoring fees. This focus on convenience and reliability enables customers to enjoy enhanced control over their home protection.

Haley Systems

Series A in 2004
Haley Systems is a global leader in rule-based programming and automation of managed knowledge within business solutions. The company specializes in enabling organizations to articulate and manage their business knowledge, best practices, and policies through plain English sentences. By embedding artificial intelligence into these sentences, Haley Systems integrates them with existing information technology, allowing for automation without extensive software development. Their solutions operate across a wide range of computing platforms, from mainframes to handheld devices, enhancing business agility, reliability, and profitability. Haley Systems also offers consulting, training, and support services, and its software is embedded in numerous commercial applications utilized by major corporations across various sectors, including customer relationship management in financial services and telecommunications.

iJET International

Series C in 2004
iJET was the first to introduce intelligence to the travel industry, which was then primarily focused on getting people from one location to another – not on keeping them safe during their trips. iJET began offering services that protected the individual traveler in March 2001, first through travel agencies and then to corporate travel departments. September 11, 2001 changed the way corporations thought about travelers and by the end of the year, iJET was protecting employees from 20 corporations.

SpeechVantage

Venture Round in 2002
SpeechVantage is a company based in Horsham, Pennsylvania, specializing in the development and marketing of speech recognition and text-to-speech solutions. The company offers both packaged and custom speech applications and services. Its primary product, the OLIVE™ Suite of business applications, features various functionalities including a speech-enabled auto attendant, a voice-activated emergency contact list, a password reset system, and voice-activated dialing capabilities for Outlook and Lotus Notes. SpeechVantage serves a diverse clientele, which includes organizations such as SpeechWorks, Nuance, and Astra Zeneca, among others.

EZ Prints

Venture Round in 2002
ezprints, Inc. operates as a private-label digital imaging solutions company. Its products include custom photo products like photo mugs greeting cards, personal photo creations, frames and albums, calendars, sports products, and digital products. The company serves consumer, retail, digital content, professional, and real estate verticals in the United States and Europe. ezprints, Inc. was founded in 1998 and is based in Norcross, Georgia.

iJET International

Series B in 2001
iJET was the first to introduce intelligence to the travel industry, which was then primarily focused on getting people from one location to another – not on keeping them safe during their trips. iJET began offering services that protected the individual traveler in March 2001, first through travel agencies and then to corporate travel departments. September 11, 2001 changed the way corporations thought about travelers and by the end of the year, iJET was protecting employees from 20 corporations.

Wine Access

Venture Round in 2000
Drink only the most extraordinary wines, hand selected by a Master of wine and Master sommelier. Each wine passes rigorous screening to ensure it meets world class standards, and the quality and provenance of the wine is controlled and guaranteed from the winery to your door.

eonDigital

Venture Round in 2000
eonDigital provides a web-based application which presents an intuitive environment for workgroup collaboration, project control, content management, digital rights protection and customized, on-demand publishing.

Internet Publishing Group

Venture Round in 2000
Internet Publishing Group is a provider of specialized market news and analysis tailored for B2B websites. The company focuses on delivering content services that equip clients with timely pricing data, in-depth news reports, expert analysis, and professional research. By utilizing multiple channels, Internet Publishing Group aims to enhance the information landscape for businesses, ensuring that they access high-quality, relevant data to support their decision-making processes.

Magic Bean Stalk

Series A in 2000
Magic Bean Stalk is an online business-to-business vertical exchange designed to facilitate connections within the startup community. It provides a platform where users can access information, conduct transactions, and communicate more effectively, ultimately promoting efficiency and cost reduction for startups. By enabling the discovery of profiles of fast-growing internet and high-tech startups worldwide, the platform connects entrepreneurs with relevant service providers and industry leaders. Additionally, it fosters online discussions and encourages the sharing of valuable experiences among startups, supporting their growth and development in a competitive landscape.

iGrandparents.com

Series A in 2000
iGrandparents.com operates as an online community platform aimed at enhancing the relationship between grandparents and their grandchildren. The website serves as a comprehensive resource, offering a variety of information and tools that address both serious and lighthearted aspects of grandparenting. Users can explore topics such as grandparent visitation rights, discipline strategies, and support during familial challenges, alongside engaging activities like traveling with grandchildren, playing games, and selecting appropriate gifts. By providing a feature-rich environment, iGrandparents.com fosters connections and enriches the experiences of grandparents and their grandchildren.

DoctorQuality

Series B in 2000
DoctorQuality.com is an innovative company dedicated to enhancing the quality of healthcare for consumers, purchasers, and the healthcare community. As the first Quality Benefits Management (QBM) company, DoctorQuality.com focuses on the economic advantages of prioritizing quality in healthcare delivery. It offers an integrated suite of products and services designed to measure, select, and improve the quality of care. The company provides comparative and benchmarking capabilities developed by experienced healthcare professionals, facilitating proactive implementations of best practices and improvements in patient safety. By emphasizing quality benefits management, DoctorQuality.com aims to create a marketplace that rewards stakeholders who prioritize high-quality healthcare outcomes.

Investor Broadcast Network

Venture Round in 2000
Investor Broadcast Network are Internet broadcaster of real-time investment information and analysis.

MedCases

Series A in 2000
MedCases focuses on the development of medical e-learning solutions for the pharmaceutical and biotechnology industry. MedCases offers ADHD Point of Care CME Program that focuses on educating physicians on the diagnosis and treatment of attention-deficit hyperactivity disorder. MedCases was acquired by Indegene Lifesystems in November 2006. MedCases was founded in 1971 and is based in Princeton, New Jersey.

Gazelle Systems

Series B in 2000
Gazelle Systems is defining the value of technology in the hospitality industry by bringing valuable information about customers to the front of the house and at the point of sale. The Gazelle team brings decades of hands-on experience to its mission and is skilled in all facets of the restaurant business - from operations and IT, to marketing and management.

EZ Prints

Venture Round in 2000
ezprints, Inc. operates as a private-label digital imaging solutions company. Its products include custom photo products like photo mugs greeting cards, personal photo creations, frames and albums, calendars, sports products, and digital products. The company serves consumer, retail, digital content, professional, and real estate verticals in the United States and Europe. ezprints, Inc. was founded in 1998 and is based in Norcross, Georgia.

iMedium

Series B in 2000
IMedium, Inc. develops an Application Service Provider (ASP) that enables the delivery of highly visual, intuitive Web interactions to business customers, future clients and trading partners.

Half.com

Venture Round in 2000
Half.com is an online marketplace that facilitates person-to-person transactions, allowing users to buy and sell previously-owned goods at discounted prices, typically at least half off the list price. Founded in 1999 by Josh Kopelman and Sunny Balijepalli, the platform gained attention for its unique marketing strategy, which included temporarily renaming the town of Halfway, Oregon, to "Half.com, Oregon" in exchange for a donation. The company was acquired by eBay in June 2000, enhancing its reach and operational capabilities. Half.com offers a wide range of products, including electronics, fashion, collectibles, and more, catering to consumers seeking economical options in the online marketplace.
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