Bob Brownell

Managing Director

Thomas J. Fogarty

Co-Founder and Managing Director

36 past transactions

Shape Memory Medical

Series C in 2024
Shape Memory Medical Inc, based in Santa Clara, California, is a medical device company focused on developing innovative therapeutic solutions for the peripheral vascular, cardiovascular, and neurovascular markets. Founded to commercialize cutting-edge medical devices that utilize Shape Memory Polymer (SMP) materials, the company has introduced the first FDA-cleared device employing this technology within the vascular sector. This advancement allows physicians to enhance patient care through improved treatment options. The team at Shape Memory Medical possesses significant expertise in SMP foam technology and the commercialization of medical devices, positioning the company as a leader in its field.

Fractyl Health

Series F in 2022
Fractyl Health, based in Lexington, Massachusetts, specializes in developing innovative medical device solutions for metabolic diseases, particularly type 2 diabetes and obesity. The company’s primary offering, Revita DMR, is a minimally invasive therapy that utilizes hydrothermal ablation to rejuvenate the duodenal lining, which can become compromised due to high-fat and high-sugar diets. By focusing on durable disease-modifying therapies rather than just symptomatic management, Fractyl Health aims to address the underlying causes of metabolic diseases, improving patient outcomes and reducing healthcare burdens. Founded in 2010 and originally named MedCatalyst, Inc., the company envisions a future where less invasive, device-based therapies provide effective solutions for large populations affected by metabolic disorders.

Standard Bariatrics

Series B in 2021
Standard Bariatrics is a medical device company based in Cincinnati, Ohio, founded in 2014. The company specializes in developing surgical instruments designed specifically for weight-loss surgeries, particularly laparoscopic sleeve gastrectomy. One of its key products, the Standard Clamp, enables surgeons to standardize their techniques, thereby reducing variation and improving efficiency during procedures. The company’s tools are intended to be used alongside general-use endoscopic staplers with reloadable cartridges, which helps to minimize the number of cartridges required for each surgery. This innovation not only lowers costs for healthcare providers but also assists in creating consistent surgical outcomes.

Arterys

Series C in 2020
Arterys Inc. is a technology company that specializes in developing a cloud-based analytics platform designed to enhance medical imaging diagnostics. Founded in 2007 and headquartered in San Francisco, California, with additional offices in Calgary and Paris, Arterys offers a range of artificial intelligence solutions, including Cardio AI for cardiac image analysis, Lung AI for lung imaging, and Liver AI for liver assessments. Their platform provides radiologists with tools to visualize and quantify blood flow in the human body, facilitating improved patient care through advanced imaging techniques. The Arterys PHI Service allows physicians to access patient data remotely, enhancing the efficiency of medical practice. As a pioneer in internet-based medical imaging, Arterys combines web accessibility with FDA-cleared AI technology to deliver innovative clinical solutions aimed at transforming healthcare.

EBR Systems

Venture Round in 2019
EBR Systems, Inc. is an early-stage development venture pursuing novel approaches in cardiac rhythm management. EBR Systems develops devices for the treatment of cardiac arrhythmias.

Standard Bariatrics

Series A in 2018
Standard Bariatrics is a medical device company based in Cincinnati, Ohio, founded in 2014. The company specializes in developing surgical instruments designed specifically for weight-loss surgeries, particularly laparoscopic sleeve gastrectomy. One of its key products, the Standard Clamp, enables surgeons to standardize their techniques, thereby reducing variation and improving efficiency during procedures. The company’s tools are intended to be used alongside general-use endoscopic staplers with reloadable cartridges, which helps to minimize the number of cartridges required for each surgery. This innovation not only lowers costs for healthcare providers but also assists in creating consistent surgical outcomes.

Fractyl Health

Series D in 2017
Fractyl Health, based in Lexington, Massachusetts, specializes in developing innovative medical device solutions for metabolic diseases, particularly type 2 diabetes and obesity. The company’s primary offering, Revita DMR, is a minimally invasive therapy that utilizes hydrothermal ablation to rejuvenate the duodenal lining, which can become compromised due to high-fat and high-sugar diets. By focusing on durable disease-modifying therapies rather than just symptomatic management, Fractyl Health aims to address the underlying causes of metabolic diseases, improving patient outcomes and reducing healthcare burdens. Founded in 2010 and originally named MedCatalyst, Inc., the company envisions a future where less invasive, device-based therapies provide effective solutions for large populations affected by metabolic disorders.

Arterys

Series B in 2017
Arterys Inc. is a technology company that specializes in developing a cloud-based analytics platform designed to enhance medical imaging diagnostics. Founded in 2007 and headquartered in San Francisco, California, with additional offices in Calgary and Paris, Arterys offers a range of artificial intelligence solutions, including Cardio AI for cardiac image analysis, Lung AI for lung imaging, and Liver AI for liver assessments. Their platform provides radiologists with tools to visualize and quantify blood flow in the human body, facilitating improved patient care through advanced imaging techniques. The Arterys PHI Service allows physicians to access patient data remotely, enhancing the efficiency of medical practice. As a pioneer in internet-based medical imaging, Arterys combines web accessibility with FDA-cleared AI technology to deliver innovative clinical solutions aimed at transforming healthcare.

Shape Memory Medical

Series B in 2017
Shape Memory Medical Inc, based in Santa Clara, California, is a medical device company focused on developing innovative therapeutic solutions for the peripheral vascular, cardiovascular, and neurovascular markets. Founded to commercialize cutting-edge medical devices that utilize Shape Memory Polymer (SMP) materials, the company has introduced the first FDA-cleared device employing this technology within the vascular sector. This advancement allows physicians to enhance patient care through improved treatment options. The team at Shape Memory Medical possesses significant expertise in SMP foam technology and the commercialization of medical devices, positioning the company as a leader in its field.

ReThink Medical

Series A in 2017
ReThink Medical, Inc. is a medical device and digital health company based in San Francisco, California, specializing in the development of a wrist-worn monitoring device. Founded in 2010 and now a subsidiary of Terumo Corporation, ReThink Medical focuses on predicting and preventing heart failure hospitalizations through continuous physiological monitoring and advanced machine learning algorithms. Its flagship product, CorBand™, is designed to detect and notify users of worsening heart conditions weeks in advance, even before noticeable symptoms emerge. This proactive approach emphasizes compliance, simplicity, and accuracy, aiming to improve quality of life for patients while significantly reducing healthcare costs. The device monitors key indicators such as heartbeat rate and fluid status, enabling timely intervention and management of heart-related disorders.

Relievant Medsystems

Series D in 2016
Relievant Medsystems, Inc. is a medical device company focused on developing minimally invasive treatments for chronic axial low back pain. The company has created the Intracept procedure, which specifically targets the basivertebral nerve to alleviate chronic vertebrogenic low back pain. By delivering targeted energy into the spine, the Intracept System effectively blocks the transmission of pain signals, providing patients with a low-risk therapeutic option. Founded in 2004, Relievant is headquartered in Minneapolis, Minnesota, with additional operations in Sunnyvale, California.

Chrono Therapeutics

Series B in 2016
Chrono Therapeutics Inc. is a pharmaceutical company based in Hayward, California, specializing in digital transdermal drug delivery systems. Founded in 2003, the company has developed SmartStop, a digital nicotine replacement therapy that incorporates a wearable device. This innovative solution allows for programmable delivery of nicotine, adjusting timing and dosage to effectively manage withdrawal symptoms and peak addiction triggers. By combining this transdermal therapy with real-time behavioral support, Chrono Therapeutics aims to enhance smoking cessation efforts and improve clinical outcomes for users. The leadership team brings extensive experience in product development, research and development, and a deep understanding of the smoking cessation market, positioning the company to play a significant role in addressing the smoking epidemic.

Arterys

Series A in 2016
Arterys Inc. is a technology company that specializes in developing a cloud-based analytics platform designed to enhance medical imaging diagnostics. Founded in 2007 and headquartered in San Francisco, California, with additional offices in Calgary and Paris, Arterys offers a range of artificial intelligence solutions, including Cardio AI for cardiac image analysis, Lung AI for lung imaging, and Liver AI for liver assessments. Their platform provides radiologists with tools to visualize and quantify blood flow in the human body, facilitating improved patient care through advanced imaging techniques. The Arterys PHI Service allows physicians to access patient data remotely, enhancing the efficiency of medical practice. As a pioneer in internet-based medical imaging, Arterys combines web accessibility with FDA-cleared AI technology to deliver innovative clinical solutions aimed at transforming healthcare.

Arterys

Series A in 2015
Arterys Inc. is a technology company that specializes in developing a cloud-based analytics platform designed to enhance medical imaging diagnostics. Founded in 2007 and headquartered in San Francisco, California, with additional offices in Calgary and Paris, Arterys offers a range of artificial intelligence solutions, including Cardio AI for cardiac image analysis, Lung AI for lung imaging, and Liver AI for liver assessments. Their platform provides radiologists with tools to visualize and quantify blood flow in the human body, facilitating improved patient care through advanced imaging techniques. The Arterys PHI Service allows physicians to access patient data remotely, enhancing the efficiency of medical practice. As a pioneer in internet-based medical imaging, Arterys combines web accessibility with FDA-cleared AI technology to deliver innovative clinical solutions aimed at transforming healthcare.

Twelve

Series C in 2015
Twelve manufactures medical devices. It was formerly known as Foundry Newco XII, Inc. The company was incorporated in 2009 and is based in Menlo Park, California.

EBR Systems

Venture Round in 2015
EBR Systems, Inc. is an early-stage development venture pursuing novel approaches in cardiac rhythm management. EBR Systems develops devices for the treatment of cardiac arrhythmias.

Focal Therapeutics

Venture Round in 2014
Focal Therapeutics, Inc. is a medical device company based in Aliso Viejo, California, established in 2007. The company specializes in the development and manufacture of the BioZorb tissue marker, an innovative implantable device designed to provide three-dimensional radiographic marking of surgical sites, particularly in breast surgery. BioZorb is placed by surgeons at the time of tissue removal, helping to accurately delineate the excision site for subsequent medical procedures, treatment planning, and follow-up imaging. The device's unique design assists surgeons, radiation oncologists, and other clinicians in identifying surgical sites, which is essential for effective patient care. Focal Therapeutics operates as a subsidiary of Hologic, Inc., and its leadership team possesses extensive experience in the medical device sector, particularly in breast cancer care.

SinuSys

Series D in 2013
SinuSys Corporation is a medical device company focused on developing innovative therapies to enhance patient health, particularly in the area of sinus health. The company has created a straightforward, two-step interventional procedure aimed at alleviating symptoms of sinusitis. Utilizing osmotic technology, SinuSys designs dilation devices specifically for treating frontal and sphenoid sinus issues, as well as other ear, nose, and throat problems. This approach enables patients to access effective and reliable treatments for their sinus-related conditions.

Nanostim

Venture Round in 2013
Nanostim is an early-stage medical device company working to prevent more than 100,000 annual complications related to pacemakers. Nanostim has assembled a world-class team of experienced medical device engineers to help bring this exciting technology to the marketplace.

Nanostim

Venture Round in 2012
Nanostim is an early-stage medical device company working to prevent more than 100,000 annual complications related to pacemakers. Nanostim has assembled a world-class team of experienced medical device engineers to help bring this exciting technology to the marketplace.

Biomimedica

Series B in 2012
Biomimedica is a medical device company based in South San Francisco, California, founded in 2007. The company specializes in developing innovative synthetic cartilage technology aimed at joint repair. Its proprietary material is designed to restore the surface of damaged joints, providing a solution for individuals suffering from joint-related issues. Through its advanced approaches, Biomimedica is contributing to the evolution of joint repair methods in the medical field.

Relievant Medsystems

Series D in 2012
Relievant Medsystems, Inc. is a medical device company focused on developing minimally invasive treatments for chronic axial low back pain. The company has created the Intracept procedure, which specifically targets the basivertebral nerve to alleviate chronic vertebrogenic low back pain. By delivering targeted energy into the spine, the Intracept System effectively blocks the transmission of pain signals, providing patients with a low-risk therapeutic option. Founded in 2004, Relievant is headquartered in Minneapolis, Minnesota, with additional operations in Sunnyvale, California.

CytoPherx

Series C in 2012
CytoPherx (formerly Nephrion) clinical stage medical device company addressing inflammation-based diseases and conditions. The company’s products are custom configurations of a proprietary selective cytopheresis-based inflammation modulating system.

Crux Biomedical

Series C in 2011
Crux Biomedical, Inc., was formed in August 2004 by physicians Tom Fogarty and Frank Arko based upon their observations of the clinical limitations of current vena cava filters.

OncoHealth

Series A in 2011
OncoHealth designs screening devices that detects and diagnoses cancer. Its devices focus on the development of protein bio-markers for screening and diagnostics of cervical cancer and other HPV-associated cancers, enabling medical professionals to monitor, diagnose, and treat cancer.

Cianna Medical

Series B in 2011
Cianna Medical, Inc. is a women’s health company focused on innovative solutions for the treatment of early-stage breast cancer. Based in Aliso Viejo, California, the company develops advanced medical technologies designed to enhance breast conservation therapy. Its primary products include SAVI SCOUT, a wire-free radar localization system that assists in accurately locating breast tumors, and SAVI Brachy, which delivers targeted radiation therapy to minimize damage to surrounding healthy tissue. Additionally, Cianna Medical provides BrachyBytes, an e-newsletter that shares insights and expert interviews on breast brachytherapy. Incorporated in 2007, the company aims to expand access to effective treatment options for women diagnosed with breast cancer, improving their chances for successful outcomes. As of November 2018, Cianna Medical operates as a subsidiary of Merit Medical Systems, Inc.

Sonoma Orthopedics

Series D in 2011
Sonoma Orthopedics specializes in the design and development of proprietary orthopedic implants aimed at addressing complex fractures. Utilizing the WaviBody technology platform, the company provides quick and minimally invasive surgical solutions tailored for active patients. Their focus is on fracture fixation devices that enable orthopedic surgeons to effectively repair challenging bone geometries. By offering operative treatments that facilitate faster recovery, Sonoma Orthopedics aims to help patients return to work and their daily activities sooner.

Incline Therapeutics

Series A in 2010
Incline Therapeutics is a privately-held, hospital-focused specialty pharmaceutical company focused on the development of IONSYS (fentanyl iontophoretic transdermal system). Incline is financed by leading life science venture capital firms and led by a management team with significant pharmaceutical and medical device industry experience.

Reverse Medical

Series B in 2010
Reverse Medical is a commercial-stage medical device company dedicated to developing innovative solutions for revascularizing patients suffering from acute ischemic strokes. The company specializes in creating embolic protection systems aimed at treating neurovascular disorders, with a strong emphasis on endovascular management of acute stroke conditions. Through its advanced medical technologies, Reverse Medical seeks to improve patient outcomes and enhance the overall standard of care in the treatment of stroke.

Intuity Medical

Series D in 2010
Intuity Medical, Inc. is a company focused on developing innovative blood glucose monitoring systems for diabetes management. Founded in 2002 and headquartered in Fremont, California, Intuity Medical is known for its POGO Automatic Blood Glucose Monitoring System, which is the first FDA-cleared automatic device that integrates lancing, blood collection, and analysis into a single 10-test cartridge. This system offers a convenient and discreet solution for individuals who need to regularly monitor their blood glucose levels, making it easier for millions of patients to manage their diabetes effectively. The company was previously named Rosedale Medical, Inc. before rebranding in June 2007.

Cyberheart

Debt Financing in 2009
CyberHeart, Inc. is a clinical development-stage company based in Mountain View, California, focused on creating a non-invasive robotic ablation treatment for cardiac arrhythmias, including conditions like atrial fibrillation and ventricular tachycardia. The company's flagship product, the CyberHeart System, utilizes advanced technology to dynamically detect, track, and compensate for the movement of both the heart and the patient, ensuring precise radiation delivery. This system is designed for use by healthcare professionals such as radiation oncologists, medical physicists, electrophysiologists, and cardiac surgeons. Founded in 2003 and operating as a subsidiary of Varian Medical Systems as of April 2019, CyberHeart has been conducting pre-clinical studies to validate the feasibility of its innovative technology. The company has also secured venture capital financing to support its development efforts.

Relievant Medsystems

Series C in 2009
Relievant Medsystems, Inc. is a medical device company focused on developing minimally invasive treatments for chronic axial low back pain. The company has created the Intracept procedure, which specifically targets the basivertebral nerve to alleviate chronic vertebrogenic low back pain. By delivering targeted energy into the spine, the Intracept System effectively blocks the transmission of pain signals, providing patients with a low-risk therapeutic option. Founded in 2004, Relievant is headquartered in Minneapolis, Minnesota, with additional operations in Sunnyvale, California.

Ardian

Series C in 2009
Ardian is a privately held, clinical-stage medical device company that develops catheter-based therapies for hypertension treatment and related conditions. It develops a catheter system that uses radio-frequency energy to “deactivate” sympathetic nerves in the kidneys, lowering blood pressure. The company's flagship product, the Symplicity Catheter System, addresses uncontrolled hypertension through renal denervation, or ablation of the nerves lining the renal arteries. It has received the CE (Conformité Européene) mark and Australia's Therapeutic Goods Administration (TGA) listing but is not yet approved by the U.S. Food and Drug Administration (FDA).

Biomimedica

Series A in 2008
Biomimedica is a medical device company based in South San Francisco, California, founded in 2007. The company specializes in developing innovative synthetic cartilage technology aimed at joint repair. Its proprietary material is designed to restore the surface of damaged joints, providing a solution for individuals suffering from joint-related issues. Through its advanced approaches, Biomimedica is contributing to the evolution of joint repair methods in the medical field.

Cyberheart

Series A in 2008
CyberHeart, Inc. is a clinical development-stage company based in Mountain View, California, focused on creating a non-invasive robotic ablation treatment for cardiac arrhythmias, including conditions like atrial fibrillation and ventricular tachycardia. The company's flagship product, the CyberHeart System, utilizes advanced technology to dynamically detect, track, and compensate for the movement of both the heart and the patient, ensuring precise radiation delivery. This system is designed for use by healthcare professionals such as radiation oncologists, medical physicists, electrophysiologists, and cardiac surgeons. Founded in 2003 and operating as a subsidiary of Varian Medical Systems as of April 2019, CyberHeart has been conducting pre-clinical studies to validate the feasibility of its innovative technology. The company has also secured venture capital financing to support its development efforts.

HeartFlow

Seed Round in 2008
HeartFlow, Inc. is a medical technology company that specializes in non-invasive solutions for coronary artery disease detection. Founded in 2007 and based in Redwood City, California, with additional offices in Portland, Austin, London, and Tokyo, the company offers its HeartFlow Analysis, which utilizes data from standard computerized tomography scans to create personalized three-dimensional models of a patient's heart. This analysis helps clinicians evaluate the impact of blockages on blood flow, facilitating informed treatment decisions while minimizing the need for invasive testing. HeartFlow's technology integrates over two decades of scientific research with advancements in artificial intelligence, making its HeartFlow FFRCT Analysis available in the United States, Canada, Europe, the United Kingdom, and Japan.
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