MBX Capital

MBX Capital is a venture capital firm established in 2015 and located in Claymont, Delaware. The firm focuses on investing in early-stage companies within the healthcare, life sciences, and environmental health sectors. MBX Capital is dedicated to supporting businesses that tackle significant public health challenges, aiming to foster innovation and improve health outcomes through its investments.

Gurdane Bhutani

Managing Partner

Elizabeth Burstein

Venture Partner

Autri Chattopadbyay

Investor

Autri Chattopadhyay

Venture Partner

Sue Huey Chuah

Special Partner

Martin Gargaros

Investor

Eric Golding MD

Investment Committee Member and Partner

Zeshan Muhammedi

Co-Founder and Managing Partner

Zesban Muhammedi

Managing Partner

49 past transactions

CND Life Sciences

Series A in 2025
CND Life Sciences develops an evidence-based tool for confirming synucleinopathy diagnoses. Its Syn-One Test detects abnormal alpha-synuclein in cutaneous nerve fibers, aiding in diagnosing Parkinson's disease, dementia with Lewy bodies, multiple system atrophy, and pure autonomic failure.

Keebler Health

Seed Round in 2025
Keebler Health is a technology company that specializes in medical coding assistance. It has developed an AI-driven platform designed to support medical billing teams. This platform, known as a medical coding co-pilot, helps identify and rectify inconsistencies and omissions in coding processes. By doing so, it aims to enhance efficiency among coders, billers, auditors, and physicians, reduce denial rates, and safeguard healthcare providers from coding and billing errors.

Tidal Vision

Series B in 2025
Founded in 2015, Tidal Vision is a sustainable manufacturer based in Ferndale, Washington. It specializes in producing chitosan, a biodegradable biopolymer extracted from crab shells using a zero-waste process. The company offers consistent, high-quality chitosan at competitive prices, tailored for various industrial applications such as water treatment, textiles, and agriculture.

Waypoint Bio

Seed Round in 2024
Waypoint Bio is a biotechnology company focused on developing innovative cell therapy solutions aimed at treating solid tumors in cancer patients. The company leverages a proprietary platform that integrates spatial multi-omics, utilizing advanced artificial intelligence and machine learning techniques. This approach enhances the design of cell therapies and facilitates pooled screening methods, allowing for the creation of effective and safe treatment options. By optimizing cell therapy through the application of spatial biology, Waypoint Bio aims to improve outcomes for patients suffering from challenging cancer types.

Vivodyne

Seed Round in 2023
Vivodyne develops an automated robotic system that discovers life-changing drugs and cellular therapies. Its platform cultures human tissues in labs for realistic preclinical drug testing, using advanced AI to accelerate the creation of safe and effective therapeutics.

Forum

Seed Round in 2023
Forum is a marketplace that specializes in connecting individuals with peer support groups facilitated by trained, mission-driven professionals. Its online platform allows users to engage with others facing similar life challenges, such as career transitions, health issues, and relationship difficulties, all within a digital space that removes geographical barriers. By providing access to a variety of support topics, including grief, loneliness, and caregiving, Forum aims to foster personal change and growth. This approach enables individuals to enhance their mental health and navigate life's obstacles while remaining in the comfort of their own homes, aligning with the company's vision of making peer support widely accessible.

Macro Trials

Seed Round in 2023
Macro Trials is a developer of a precision research clinical platform aimed at facilitating the connection between pharmaceutical companies and potential trial participants. The company offers an infrastructure designed to simplify the complexities associated with distributed clinical trials, which includes services such as site activation and site monitoring. By collaborating with pharmaceutical companies, physicians, and health systems, Macro Trials helps design, plan, and execute clinical trials for high-value therapeutics. This approach not only enhances research velocity but also allows for a broader range of participants, leading to more generalizable research outcomes. Furthermore, the platform generates valuable longitudinal patient records, contributing to the overall advancement of clinical research and therapeutic development.

Thesis

Seed Round in 2023
Thesis offers personalized brain supplements that cater to all types of brains. They create potent nutritional compounds to improve mental function and provide individualized suggestions depending on their customers' goals and brain chemistry.

Contraline

Series A in 2022
Contraline, Inc. is a biotechnology company based in Charlottesville, Virginia, focused on developing innovative male birth control solutions. The company is pioneering the first long-lasting, non-hormonal, and reversible contraceptive for men. Its primary product, Echo-V, is an ultrasound-visible polymer solution that is injected into the vas deferens, forming a polymer hydrogel device. This device functions as a semi-permeable membrane, effectively blocking sperm while allowing bodily fluids to pass through. Contraline also offers Vasintomy, a non-surgical procedure for the insertion of Echo-V, providing a cost-effective and accessible approach to male contraception. Incorporated in 2015, Contraline aims to transform the landscape of reproductive health for men.

Freedom Biosciences

Seed Round in 2022
Freedom Biosciences develops a biotechnology platform focused on next-generation psychedelic therapeutics. The company advances ketamine-based therapies and combines neuropsychiatric drugs to create treatments for mental health and substance use disorders, including depression and PTSD, with the aim of offering more effective and safer options for patients.

Arine

Series B in 2022
Arine Inc. is a San Francisco-based company that specializes in developing a clinical learning and analytic response engine aimed at enhancing medication management and patient care. Founded in 2017, Arine utilizes a data-driven approach to optimize medications and improve health outcomes for patients and their families. The company's platform aggregates and analyzes clinical, social, and behavioral data to identify gaps in patient care, allowing for tailored and actionable medication recommendations. By partnering expert clinicians with data scientists and engineers, Arine focuses on delivering timely interventions that guide patients throughout their healthcare journey, ultimately aiming to lower costs and improve the quality of care.

OFFOR Health

Series A in 2022
OFFOR Health is an on-site care delivery organization focused on enhancing access to healthcare services in local communities. By leveraging existing medical and dental facilities, the company aims to reduce surgery backlogs and improve health outcomes for patients, particularly those covered by Medicaid. OFFOR Health specializes in providing pediatric dental anesthesia and is expanding its offerings to include mobile integrated healthcare, community paramedicine, dental-driven primary care, and vaccinations. Utilizing a last-mile logistics network, the organization coordinates specialist anesthesiology care teams, ensuring that patients receive necessary supplies, medications, and equipment directly within their communities, thereby increasing accessibility and reducing overall healthcare costs.

SmileMD

Series A in 2022
SmileMD is an on-site anesthesia service company bringing anesthesia care teams and logistics to optimize the venue for surgeries. It provides anesthesia to pediatric and adult dental practices in their office setting, reducing anxiety and increasing access to care for thousands of patients each year. They utilize the same safety processes and procedures as hospitals, and our anesthesia care team allows us to provide the highest quality patient care efficiently and safely.

Atlas Labs

Series A in 2022
Atlas Labs, Inc. is a technology company that specializes in connecting patients with available medical aid programs to optimize financial assistance. Founded in 2015 and headquartered in San Francisco, California, the company focuses on streamlining patient enrollment in external programs to convert uncompensated care into revenue and reimbursements. Its platform alleviates the burden on financial counselors, reduces patient out-of-pocket expenses, and enhances revenue from third-party programs. Additionally, Atlas Labs organizes and indexes various medical aid programs from government, private, and provider sources, assisting patients in obtaining financial aid while ensuring that medical providers receive reimbursement for self-pay balances. Through its innovative solutions, Atlas Labs aims to improve compliance, enhance margins, and meet community healthcare needs effectively.

Dezy

Series A in 2022
Smiles.ai leverages proprietary technology and expert healthcare professionals to provide access to high-quality and cost-effective dental care products and services.

Freedom Biosciences

Seed Round in 2021
Freedom Biosciences develops a biotechnology platform focused on next-generation psychedelic therapeutics. The company advances ketamine-based therapies and combines neuropsychiatric drugs to create treatments for mental health and substance use disorders, including depression and PTSD, with the aim of offering more effective and safer options for patients.

Contraline

Series A in 2021
Contraline, Inc. is a biotechnology company based in Charlottesville, Virginia, focused on developing innovative male birth control solutions. The company is pioneering the first long-lasting, non-hormonal, and reversible contraceptive for men. Its primary product, Echo-V, is an ultrasound-visible polymer solution that is injected into the vas deferens, forming a polymer hydrogel device. This device functions as a semi-permeable membrane, effectively blocking sperm while allowing bodily fluids to pass through. Contraline also offers Vasintomy, a non-surgical procedure for the insertion of Echo-V, providing a cost-effective and accessible approach to male contraception. Incorporated in 2015, Contraline aims to transform the landscape of reproductive health for men.

Mae Health

Seed Round in 2021
Mae is a women's health care center providing pregnancy and postpartum support, tailored to women's needs. Mae is establishing a world in which high-quality, proactive care is the norm. Mae improves the quality of care for Black women by providing a trusted, digital-first health platform.

Attivare Therapeutics

Seed Round in 2021
Attivare Therapeutics specializes in developing biomaterial vaccines designed for multiple applications. Its innovative approach involves creating a new physical microenvironment within the body to concentrate immune cells, delivering agents to reprogram the immune response, and enhancing patient responses to cancer antigens.

CareRev

Series A in 2021
CareRev is an online marketplace connecting hospitals and outpatient facilities directly with per diem medical staff. It eliminates intermediaries, filling empty shifts swiftly, reducing staffing costs, and enhancing patient care quality.

Vital Bio

Seed Round in 2021
Vital Bio is focused on transforming lab testing to make healthcare more accessible and personalized. The company develops advanced diagnostic technologies that integrate devices, software, and services to support patients in monitoring their health and managing diseases. By bridging the gap between diagnosis and treatment, Vital Bio aims to empower patients and healthcare providers alike, promoting proactive care and reducing disparities in health outcomes. The company's innovative approach seeks to enhance the overall healthcare experience, ensuring that individuals have greater control over their health management.

ixLayer

Series A in 2021
ixLayer is a leader in the health-tech sector, specializing in precision health testing solutions that facilitate virtual health testing for various stakeholders, including health systems, payors, biopharma, and health-focused organizations. Established in 2018, ixLayer's platform offers comprehensive solutions encompassing technical, security, regulatory, and user experience aspects of complex health testing. As the demand for remote and virtual care continues to grow, ixLayer enhances patient engagement and preventative health strategies by enabling real-time health and wellness lab testing. The platform can be seamlessly integrated with existing patient engagement systems and portals, allowing organizations to efficiently launch and manage testing programs. Serving millions of patients, ixLayer has developed and implemented numerous testing initiatives for large organizations, healthcare systems, and government agencies, contributing to a progressive shift towards telehealth.

AmacaThera

Series A in 2021
AmacaThera Inc. is a clinical-stage biotechnology company based in Toronto, Canada, founded in 2016. The company is focused on developing an innovative injectable hydrogel platform technology designed to enhance drug delivery and improve patient outcomes in various medical applications, particularly in post-surgical pain management, cancer treatment, and other challenging therapeutic areas. AmacaThera's technology features a unique fast-gelling material that liquefies under mechanical force, consisting of a reversible blend of hyaluronan and methylcellulose. This approach allows for localized and sustained drug delivery, potentially reducing postoperative pain and addressing other medical needs effectively.

Concert Health

Series A in 2021
Founded in 2016, Concert Health operates an online platform that connects patients with therapists and psychiatrists through their primary care providers. The company offers remote clinical staffing, screening tools, implementation guidance, documentation support, and evidence-based care integration to facilitate behavioral health services within medical practices.

Earli

Series A in 2021
Earli is a biotechnology company focused on advancing cancer detection and treatment through innovative technology. The company specializes in developing devices that utilize a novel gene therapy approach known as Synthetic Biopsy. This method compels cancer cells to produce synthetic biomarkers, which are not naturally occurring in the human body. These biomarkers can then be detected in bodily fluids such as blood, urine, or breath, allowing for early identification of cancer. By facilitating the early detection of homogeneous tumors, Earli aims to significantly improve the chances of successful treatment and personalize therapy options for patients. Additionally, the technology is designed to be visible during imaging procedures such as PET scans, enhancing the monitoring of cancer progression and treatment efficacy.

SecureAire

Venture Round in 2020
SecureAire develops advanced air purification systems using proprietary Active Particle Control Technology. This technology removes small particles like bacteria, viruses, allergens, and gases from indoor environments, enhancing air quality in hospitals, commercial buildings, and homes.

Koneksa

Series B in 2020
Koneksa Health Inc. is a healthcare data analytics company that specializes in designing and developing software solutions for pharmaceutical and biotech firms. The company’s flagship product, Koneksa Compare, facilitates the collection, monitoring, and analysis of patient-generated data to support clinical studies and regulatory claims. By integrating emerging technologies such as bio-sensors, activity trackers, and mobile-based questionnaires, Koneksa enhances the accuracy and breadth of data that researchers can analyze, thereby minimizing subjective biases in clinical endpoints. Additionally, the platform provides a dashboard that offers electronic clinical outcome assessments and reminders for study participants. Established in 2013 and headquartered in New York, Koneksa also maintains a presence in London, United Kingdom, and is recognized for its contributions to improving the efficiency of drug development through innovative data analysis.

Atlas Labs

Venture Round in 2020
Atlas Labs, Inc. is a technology company that specializes in connecting patients with available medical aid programs to optimize financial assistance. Founded in 2015 and headquartered in San Francisco, California, the company focuses on streamlining patient enrollment in external programs to convert uncompensated care into revenue and reimbursements. Its platform alleviates the burden on financial counselors, reduces patient out-of-pocket expenses, and enhances revenue from third-party programs. Additionally, Atlas Labs organizes and indexes various medical aid programs from government, private, and provider sources, assisting patients in obtaining financial aid while ensuring that medical providers receive reimbursement for self-pay balances. Through its innovative solutions, Atlas Labs aims to improve compliance, enhance margins, and meet community healthcare needs effectively.

Brightside

Series A in 2020
Brightside is an employer-based financial care platform offering a complete suite of financial solutions to improve the financial health of working families, focusing on frontline workers who are often paycheck-to-paycheck. The platform aims to reduce turnover, healthcare costs, and productivity losses by providing personalized guidance and easy access to curated financial products through tech-powered assistants and an app. It leverages behavioral science to automate actions and influence financial habits, helping employees and their families take the right next steps. By supporting financial wellbeing, Brightside seeks to enhance retention, productivity, and DEI outcomes for employers.

Wellth

Series A in 2020
Wellth operates a mobile application that engages consumers in managing chronic diseases and fostering healthy habits. By providing targeted incentives, reminders, and information, Wellth aims to reduce healthcare costs by encouraging preventative actions and disease management.

Lucy Goods

Series A in 2020
Lucy Goods, Inc. is a company based in Los Angeles, California, that specializes in manufacturing and selling nicotine alternatives to conventional tobacco products. Founded in 2016, Lucy Goods offers a range of products, including nicotine gum available in flavors such as fruit, mint, and cinnamon, as well as nicotine lozenges. The company focuses on providing next-generation nicotine products that utilize pure nicotine and food-grade ingredients, aiming to create a cleaner and more convenient alternative to existing market offerings. Lucy Goods is driven by a mission to eliminate tobacco-related harm entirely. The company's products are primarily sold through online channels.

CloudCath

Series A in 2020
CloudCath is a company that specializes in developing a sensor-enabled digital platform tailored for patients undergoing peritoneal dialysis. The platform integrates Internet of Things-based sensing hardware with a continuous monitoring system, allowing for the early detection of complications associated with catheter-based treatments. This innovative approach not only enhances patient care by enabling healthcare providers to monitor patients remotely during their home treatments but also aims to reduce the frequency of in-person visits required each month. By focusing on early complication detection, CloudCath seeks to improve patient outcomes in the management of dialysis therapy.

Luna

Venture Round in 2020
Luna operates a health and wellness center specializing in physical therapies aimed at addressing various conditions such as orthopedic and sports injuries, senior care, post-surgical rehabilitation, and pain management. The company seeks to enhance the effectiveness of physical therapy by providing greater access to care for patients while offering therapists the autonomy and flexibility necessary to manage their careers effectively. Recognizing the challenges faced by both therapists and patients, Luna is committed to creating an environment that fosters independence and motivation, ultimately leading to improved outcomes and greater satisfaction in the therapy process.

Uniform Teeth

Series A in 2019
Uniform Teeth is an orthodontics practice focused on delivering accessible and high-quality orthodontic care. The company operates dental clinics that utilize a modern approach to treatment, specializing in clear teeth aligners. These aligners are crafted from biocompatible, BPA-free plastic designed to fit snugly over the teeth at each stage of the orthodontic process. By prioritizing patient experience and innovative technology, Uniform Teeth aims to simplify the journey to achieving straightened teeth.

Meissa Vaccines

Series A in 2019
Meissa Vaccines is a pharmaceutical company focused on developing vaccines against respiratory syncytial virus (RSV), rhinovirus, and human metapneumovirus. Incorporated in 2014, the company aims to reduce the burden of acute lower respiratory tract diseases, colds, and asthma exacerbations caused by these viruses.

Buoy Health

Series B in 2019
Buoy Health, Inc. is a health technology company based in Boston, Massachusetts, with an additional office in New York City. Founded in 2014, Buoy Health develops an artificial intelligence-driven digital health solution designed to empower individuals in managing their health and navigating the healthcare system. The company's primary offering, Buoy Health, is an online healthcare chatbot that provides personalized symptom analysis, facilitates first-line triage, and offers treatment recommendations. This platform functions as a comprehensive resource, enabling users to engage in self-diagnosis and access information about health benefits. Additionally, Buoy Health can be customized for employers to help employees find in-network providers and access wellness programs, thereby enhancing the overall healthcare experience.

Osmosis

Series A in 2019
Osmosis is a personalized learning platform focused on enhancing health education by providing a deeper understanding of medical concepts. The platform enables clinicians and caregivers to access a wealth of educational resources, including a comprehensive library of videos and multiple-choice questions. Driven by data and technology, Osmosis aims to improve retention and preparedness for courses and exams, making it a valuable tool for medical professionals seeking to deepen their knowledge and skills in the healthcare field. By offering tailored content that goes beyond traditional lectures, Osmosis supports effective learning for a global audience in the medical community.

Mightier

Series A in 2019
Mightier is a Boston-based company that develops bioresponsive video games and a family program designed to help children regulate emotions. The platform pairs gameplay with a biofeedback heart rate monitor to adjust game difficulty, encouraging kids to stay calm and in control while learning to recognize and manage emotions in daily life. Created through collaboration with Boston Children's Hospital and Harvard Medical School, Mightier aims to address behavioral and emotional challenges by teaching real-time emotion regulation skills. Founded in 2016, the company offers a program that integrates mind-body signals into interactive experiences, enabling children to practice emotional control through engaging, age-appropriate games.

SafeRide Health

Series A in 2019
SafeRide Health is a healthcare technology company specializing in non-emergency medical transportation. Its platform leverages AI and data analytics to enhance patient experience, improve population health, and optimize fleet management for healthcare providers.

SPARK Neuro

Series A in 2018
SPARK Neuro Inc. is a neuroscience company focused on quantifying brain data to enhance audience engagement in the advertising and entertainment sectors, as well as improving clinical care and therapeutic discovery in healthcare. Founded in 2013 and headquartered in New York, the company utilizes advanced neuroscience tools, including patented neural metrics and machine learning algorithms, to analyze brain activity. Its flagship product, SPARK Scan, is a 10-minute EEG-based evaluation that detects early signs of changes in brain function. By partnering with prestigious institutions, SPARK Neuro aims to deepen the understanding of neurological and psychiatric conditions while making brain health measurement and care more accessible for healthcare professionals.

Opentrons

Series A in 2018
Opentrons develops automated laboratory equipment that uses Python programming language to streamline scientific research processes. Their products aim to minimize human error and increase efficiency in running experiments.

Sonavex

Series A in 2017
Sonavex develops imaging technologies for vascular and surgical care, employing ultrasound to detect postoperative blood clots at the point of care and to measure intravascular flow metrics for timely decision making. It also develops bioresorbable, echogenic devices to mark at-risk vessels and to collect data on arteriovenous fistula flow, diameter, and depth at dialysis clinics to assess maturation and anticipate future complications. Based in Baltimore, Maryland, Sonavex focuses on delivering data-driven visualization of vessel health to improve surgical and dialysis patient outcomes.

SwiftShift

Seed Round in 2016
SwiftShift Ltd. is a London-based company founded in 2012 that focuses on transforming pediatric home care delivery. It creates a nurse-managed service designed to meet the increasing demand for home care, which offers a more effective and cost-efficient alternative to hospital stays for children. SwiftShift connects nurses and clinicians with patients requiring in-home care, allowing caregivers to choose shifts that align with their preferences while ensuring that healthcare providers can effectively market available positions. The company utilizes an AI-based workforce management platform to streamline care coordination, eliminating cumbersome paperwork and enhancing decision-making for nurses. By empowering self-managed care teams, SwiftShift fosters meaningful relationships between patients, families, and caregivers. It is dedicated to improving the nursing experience through continuous professional development and support, ultimately aiming to increase the number of pediatric nurses in the field and ensure every child has access to reliable home care.

EpiBone

Venture Round in 2016
EpiBone is a biotechnology company specializing in regenerative medicine for bone repair. It uses patient-specific stem cells and 3D fabrication to create living, anatomically precise bone grafts. The company's lead product has completed Phase I/IIa clinical trials, with additional products focusing on cartilage repair under development.

Perceptive Navigation

Seed Round in 2015
Perceptive Navigation LLC is a pre-clinical stage medical device company based in Baltimore, Maryland, focused on developing innovative interventional medical devices for the image-guided surgery market. The company is known for its flagship product, Vu-Path, an intracorporeal ultrasound device that integrates front-viewing ultrasound imaging with a working portal. This unique combination allows for the precise introduction of needles, biopsy instruments, guide wires, and therapeutic agents into the body. Vu-Path aims to enhance the safety and efficacy of minimally invasive procedures across multiple medical disciplines, including radiology, cardiology, interventional oncology, and urology. Traditional imaging techniques often pose challenges such as high costs, complexity, and risks associated with patient safety. Vu-Path addresses these issues by facilitating quicker and safer access to internal organs while reducing the need for extensive training and equipment. With its patented technology, Perceptive Navigation seeks to transform the landscape of interventional medicine, improving outcomes for both patients and healthcare providers.

MHB Labs

Seed Round in 2015
MHB Labs is a biotechnology company focused on developing innovative products for men's health. Founded in 1999 and based in Chestnut Hill, Massachusetts, MHB Labs specializes in creating pharmaceutical solutions aimed at addressing conditions such as erectile dysfunction, Peyronie’s disease, and delayed orgasm. The company is also engaged in the development of AndroSphere, a product specifically designed for men’s health. Additionally, MHB Labs advises on projects involving medical devices and telemedicine, collaborating with startups to enhance patient care through advanced technology. By leveraging clinical insights and forming strategic partnerships, MHB Labs aims to address unmet medical needs and bring impactful health solutions to market.

Persist AI

Persist AI is a company that aids pharmaceutical firms in the development of long-acting drug formulations by leveraging artificial intelligence and automation. Traditional formulation development is a lengthy process, typically spanning 5 to 10 years, which includes extensive pre-clinical and clinical testing phases. Persist AI aims to significantly reduce this timeline by streamlining pre-clinical formulation development to just three months, enhancing the efficiency of the drug development process by 50%. The company employs AI-driven automation technologies, such as automated drug release testing and high-throughput formulation screening, to facilitate quicker and more reliable drug formulation. By doing so, Persist AI not only accelerates drug development but also contributes to improving patient outcomes.

Catena Biosciences

Catena Biosciences specializes in biotechnology, offering protein conjugation services for building biological structures and facilitating medical research. Its proprietary technology enables the attachment of proteins with high selectivity, supporting innovation in autoimmune disorders, oncology, and vaccine development.

Vivodyne

Vivodyne develops an automated robotic system that discovers life-changing drugs and cellular therapies. Its platform cultures human tissues in labs for realistic preclinical drug testing, using advanced AI to accelerate the creation of safe and effective therapeutics.
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