Novitas Capital

Novitas Capital, established in 1997, is a Pennsylvania-based venture capital firm specializing in early-stage investments in technology and life science companies. With offices in Wayne, PA, Pittsburgh, PA, Allendale, NJ, and Morgantown, WV, Novitas has a proven track record of over a decade in generating returns by discovering and investing in promising start-ups with strong intellectual capital and breakthrough concepts. The firm manages approximately $237 million across three venture funds and currently has around 30 active portfolio companies. Novitas' success is driven by its investment philosophy, strong partner relationships, and the significant hands-on experience of its team in guiding companies to growth and value creation.

Michael G. Bolton

Managing Director

42 past transactions

Cernostics

Venture Round in 2016
Cernostics, Inc. is a diagnostics company based in Pittsburgh, Pennsylvania, specializing in cancer diagnostics and prognostics. Founded in 2008, the company employs a tissue systems biology approach to anatomic pathology, focusing on comprehensive evaluations of tumors composed of various cell types. Cernostics has developed the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess risk in Barrett’s esophagus patients, thereby aiding gastroenterologists in treatment decisions. The company’s innovative platform features advanced capabilities such as multi-channel fluorescence imaging, image reading, image segmentation, and biomarker expression analysis. Cernostics aims to provide insights into disease pathophysiology, facilitate biomarker discovery and validation, and support clinical trials, ultimately enhancing patient outcomes and reducing healthcare costs. The company also collaborates strategically with Deciphex Limited to further advance its technological initiatives.

Cernostics

Series B in 2013
Cernostics, Inc. is a diagnostics company based in Pittsburgh, Pennsylvania, specializing in cancer diagnostics and prognostics. Founded in 2008, the company employs a tissue systems biology approach to anatomic pathology, focusing on comprehensive evaluations of tumors composed of various cell types. Cernostics has developed the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess risk in Barrett’s esophagus patients, thereby aiding gastroenterologists in treatment decisions. The company’s innovative platform features advanced capabilities such as multi-channel fluorescence imaging, image reading, image segmentation, and biomarker expression analysis. Cernostics aims to provide insights into disease pathophysiology, facilitate biomarker discovery and validation, and support clinical trials, ultimately enhancing patient outcomes and reducing healthcare costs. The company also collaborates strategically with Deciphex Limited to further advance its technological initiatives.

Cernostics

Venture Round in 2013
Cernostics, Inc. is a diagnostics company based in Pittsburgh, Pennsylvania, specializing in cancer diagnostics and prognostics. Founded in 2008, the company employs a tissue systems biology approach to anatomic pathology, focusing on comprehensive evaluations of tumors composed of various cell types. Cernostics has developed the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess risk in Barrett’s esophagus patients, thereby aiding gastroenterologists in treatment decisions. The company’s innovative platform features advanced capabilities such as multi-channel fluorescence imaging, image reading, image segmentation, and biomarker expression analysis. Cernostics aims to provide insights into disease pathophysiology, facilitate biomarker discovery and validation, and support clinical trials, ultimately enhancing patient outcomes and reducing healthcare costs. The company also collaborates strategically with Deciphex Limited to further advance its technological initiatives.

Agile Therapeutics

Series C in 2012
Agile Therapeutics, Inc. is a women's healthcare company based in Princeton, New Jersey, dedicated to the research, development, and commercialization of prescription contraceptive products. The company's lead product is Twirla, a once-weekly transdermal contraceptive patch that combines levonorgestrel and ethinyl estradiol, designed to provide a non-daily option for contraception. Agile Therapeutics is also advancing a pipeline of additional products and extensions related to Twirla, including regimens aimed at offering women extended cycles, shorter and lighter periods, and a progestin-only patch for those who cannot or prefer not to use estrogen. Utilizing proprietary Skinfusion technology, the company aims to deliver effective contraceptive solutions that address the unmet health needs of women today. Founded in 1997, Agile Therapeutics continues to focus on innovating women's healthcare options.

LifeShield

Venture Round in 2011
LifeShield is a provider of professional-grade wireless home security systems designed to offer superior protection and value compared to traditional alarm systems. Unlike many existing options that are either cheap and ineffective or costly and limited in functionality, LifeShield delivers advanced security solutions to its customers, enabling them to safeguard their homes effectively. The company’s offerings include fire and carbon monoxide sensors, video cameras, and live video monitoring applications suitable for various living situations, including vacation and mobile homes. LifeShield has pioneered features such as remote access, allowing customers to manage their security systems from anywhere in the world without incurring additional fees. The company also provides user-friendly applications for smartphones, enhancing accessibility and control for its clients. Overall, LifeShield aims to simplify home protection while ensuring comprehensive security coverage.

Nistica

Series D in 2011
Nistica, Inc. is a developer and manufacturer of optical networking modules focused on delivering high-bandwidth applications. Established in January 2005 and headquartered in Bridgewater, New Jersey, the company specializes in agile optical modules designed for optical system original equipment manufacturers globally. Nistica's product offerings include reconfigurable optical add/drop multiplexer (ROADM) subsystems, low port-count wavelength selective switch modules, and high port-count series products. These solutions facilitate flexible channel plans and dynamic power equalization, enabling users to customize channel spacing. Additionally, Nistica provides advanced products such as FLEXBOX, a disaggregated ROADM node aimed at software-defined networks. The company's innovative approach simplifies and automates optical network delivery, enhancing the capabilities of both edge and metro core networks. In June 2012, Nistica was acquired by Molex Optical Solutions Group, further extending its reach and impact in the optical networking industry.

TetraLogic Pharmaceuticals

Series C in 2011
TetraLogic Pharmaceuticals is a privately held biopharmaceutical company focused on the discovery and development of small molecule drugs that target programmed cell death pathways to address serious diseases. The company's lead products, known as Smac Mimetics, work by neutralizing key inhibitors in the apoptosis pathway, allowing for the selective destruction of cancer cells. Additionally, TetraLogic develops Necrostatin drugs, which inhibit critical processes leading to necrosis, thus promoting cell survival in various conditions where necrosis plays a significant role in disease progression. Through these innovative therapeutic approaches, TetraLogic aims to improve treatment outcomes in oncology and other medical fields.

TetraLogic Pharmaceuticals

Series C in 2010
TetraLogic Pharmaceuticals is a privately held biopharmaceutical company focused on the discovery and development of small molecule drugs that target programmed cell death pathways to address serious diseases. The company's lead products, known as Smac Mimetics, work by neutralizing key inhibitors in the apoptosis pathway, allowing for the selective destruction of cancer cells. Additionally, TetraLogic develops Necrostatin drugs, which inhibit critical processes leading to necrosis, thus promoting cell survival in various conditions where necrosis plays a significant role in disease progression. Through these innovative therapeutic approaches, TetraLogic aims to improve treatment outcomes in oncology and other medical fields.

Agile Therapeutics

Series B in 2010
Agile Therapeutics, Inc. is a women's healthcare company based in Princeton, New Jersey, dedicated to the research, development, and commercialization of prescription contraceptive products. The company's lead product is Twirla, a once-weekly transdermal contraceptive patch that combines levonorgestrel and ethinyl estradiol, designed to provide a non-daily option for contraception. Agile Therapeutics is also advancing a pipeline of additional products and extensions related to Twirla, including regimens aimed at offering women extended cycles, shorter and lighter periods, and a progestin-only patch for those who cannot or prefer not to use estrogen. Utilizing proprietary Skinfusion technology, the company aims to deliver effective contraceptive solutions that address the unmet health needs of women today. Founded in 1997, Agile Therapeutics continues to focus on innovating women's healthcare options.

Cernostics

Series A in 2010
Cernostics, Inc. is a diagnostics company based in Pittsburgh, Pennsylvania, specializing in cancer diagnostics and prognostics. Founded in 2008, the company employs a tissue systems biology approach to anatomic pathology, focusing on comprehensive evaluations of tumors composed of various cell types. Cernostics has developed the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess risk in Barrett’s esophagus patients, thereby aiding gastroenterologists in treatment decisions. The company’s innovative platform features advanced capabilities such as multi-channel fluorescence imaging, image reading, image segmentation, and biomarker expression analysis. Cernostics aims to provide insights into disease pathophysiology, facilitate biomarker discovery and validation, and support clinical trials, ultimately enhancing patient outcomes and reducing healthcare costs. The company also collaborates strategically with Deciphex Limited to further advance its technological initiatives.

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 developer and manufacturer of optical networking modules focused on delivering high-bandwidth applications. Established in January 2005 and headquartered in Bridgewater, New Jersey, the company specializes in agile optical modules designed for optical system original equipment manufacturers globally. Nistica's product offerings include reconfigurable optical add/drop multiplexer (ROADM) subsystems, low port-count wavelength selective switch modules, and high port-count series products. These solutions facilitate flexible channel plans and dynamic power equalization, enabling users to customize channel spacing. Additionally, Nistica provides advanced products such as FLEXBOX, a disaggregated ROADM node aimed at software-defined networks. The company's innovative approach simplifies and automates optical network delivery, enhancing the capabilities of both edge and metro core networks. In June 2012, Nistica was acquired by Molex Optical Solutions Group, further extending its reach and impact in the optical networking industry.

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 is a provider of a sophisticated pay-per-click software platform designed to enhance the management of extensive paid search campaigns for advertisers and agencies. The platform offers a unified web interface that integrates campaigns from major search engines, allowing users to efficiently manage bid settings, edit campaigns, and generate comprehensive reports. Key features include advanced reporting services with customizable and shareable dashboards, as well as an Excel plug-in called ClickEquations Analyst that delivers in-depth analytics and flexibility. The platform also facilitates effective bid management through the establishment of bid rules and automation, enabling users to optimize their paid search strategies with greater ease and precision.

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 operating in various industries, including telecommunications, utilities, healthcare, and retail. Its flagship product, ETAdirect, is a cloud-based solution that utilizes a patented time-based predictive analytics platform. This technology analyzes individual employee work patterns to optimize service routes and schedules based on real-time data. By ensuring that field employees arrive at appointments on time and equipped with the necessary tools and information, TOA Technologies enhances the efficiency of mobile workforce operations. The result is improved customer satisfaction through reduced wait times and increased productivity for field service teams.

Nistica

Series B in 2008
Nistica, Inc. is a developer and manufacturer of optical networking modules focused on delivering high-bandwidth applications. Established in January 2005 and headquartered in Bridgewater, New Jersey, the company specializes in agile optical modules designed for optical system original equipment manufacturers globally. Nistica's product offerings include reconfigurable optical add/drop multiplexer (ROADM) subsystems, low port-count wavelength selective switch modules, and high port-count series products. These solutions facilitate flexible channel plans and dynamic power equalization, enabling users to customize channel spacing. Additionally, Nistica provides advanced products such as FLEXBOX, a disaggregated ROADM node aimed at software-defined networks. The company's innovative approach simplifies and automates optical network delivery, enhancing the capabilities of both edge and metro core networks. In June 2012, Nistica was acquired by Molex Optical Solutions Group, further extending its reach and impact in the optical networking industry.

Cellumen

Series B in 2007
Cellumen is a pioneering company in cellular systems biology (CSB) solutions, specializing in cell-based drug discovery, early safety assessment, and discovery toxicology. The company focuses on providing accurate predictions of drug efficacy and safety, which helps reduce failure rates and lower development costs for biopharmaceutical researchers. By addressing the complexities of disease and safety, Cellumen's CSB solutions enhance the drug development process. The company collaborates with leading global organizations, including the Mayo Clinic, Hamamatsu Photonics K.K., the EPA, FDA, NIH, and major pharmaceutical companies, to advance the field of drug research and ensure the creation of effective and safe patient-targeted therapies.

LifeShield

Series C in 2007
LifeShield is a provider of professional-grade wireless home security systems designed to offer superior protection and value compared to traditional alarm systems. Unlike many existing options that are either cheap and ineffective or costly and limited in functionality, LifeShield delivers advanced security solutions to its customers, enabling them to safeguard their homes effectively. The company’s offerings include fire and carbon monoxide sensors, video cameras, and live video monitoring applications suitable for various living situations, including vacation and mobile homes. LifeShield has pioneered features such as remote access, allowing customers to manage their security systems from anywhere in the world without incurring additional fees. The company also provides user-friendly applications for smartphones, enhancing accessibility and control for its clients. Overall, LifeShield aims to simplify home protection while ensuring comprehensive security coverage.

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 a specialty pharmaceutical company dedicated to developing innovative inhalation products. Utilizing its proprietary electrohydrodynamic (EHD) aerosolization technology, Ventaira focuses on creating novel inhaled drugs, such as fentanyl for managing breakthrough pain and salmeterol for treating asthma.

Renal Solutions

Series B in 2005
Renal Solutions is a company based in Warrendale, Pennsylvania, that specializes in the development of dialysis products and services. Founded in 2000, the company focuses on creating integrated medical devices for sorbent hemodialysis treatment, which is designed to improve care for patients suffering from chronic and acute kidney failure. By offering a clinical care model, Renal Solutions enables healthcare practitioners to provide convenient and flexible treatment options that utilize sorbent-based dialysis technology. In November 2007, Renal Solutions was acquired by Fresenius Medical Care, enhancing its capacity to deliver innovative renal care solutions.

LifeShield

Series A in 2004
LifeShield is a provider of professional-grade wireless home security systems designed to offer superior protection and value compared to traditional alarm systems. Unlike many existing options that are either cheap and ineffective or costly and limited in functionality, LifeShield delivers advanced security solutions to its customers, enabling them to safeguard their homes effectively. The company’s offerings include fire and carbon monoxide sensors, video cameras, and live video monitoring applications suitable for various living situations, including vacation and mobile homes. LifeShield has pioneered features such as remote access, allowing customers to manage their security systems from anywhere in the world without incurring additional fees. The company also provides user-friendly applications for smartphones, enhancing accessibility and control for its clients. Overall, LifeShield aims to simplify home protection while ensuring comprehensive security coverage.

The Haley Enterprise

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.

WorldAware

Series C in 2004
WorldAware, Inc. is a provider of risk management solutions catering to multinational organizations in the United States and globally. The company offers a comprehensive suite of services, including integrated risk management programs, travel risk management solutions, and executive decision support. Its offerings encompass benchmarking, data consulting, automated risk monitoring, and online intelligence tools designed to help clients identify and mitigate threats. Additionally, WorldAware specializes in health intelligence solutions, global medical assistance, and emergency response services to safeguard personnel health. The company also provides mobile applications to enhance communication and support during travel. Founded in 1999 and headquartered in Annapolis, Maryland, WorldAware has expanded its presence internationally with offices in London, Singapore, Japan, India, and Germany. Formerly known as iJET International, Inc., the company rebranded to WorldAware in June 2018 and operates as a subsidiary of Crisis24.

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. It offers a range of packaged and custom speech applications and services designed to enhance communication efficiency. The company's flagship product, the OLIVE™ Suite, includes features such as a speech-enabled auto attendant, a voice-activated emergency contact list, a speech-enabled password reset system, a voice-activated dialing system, and integration with Outlook and Lotus Notes. SpeechVantage serves a diverse clientele, including notable organizations such as SpeechWorks, Nuance, and Bank of Nova Scotia.

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.

WorldAware

Series B in 2001
WorldAware, Inc. is a provider of risk management solutions catering to multinational organizations in the United States and globally. The company offers a comprehensive suite of services, including integrated risk management programs, travel risk management solutions, and executive decision support. Its offerings encompass benchmarking, data consulting, automated risk monitoring, and online intelligence tools designed to help clients identify and mitigate threats. Additionally, WorldAware specializes in health intelligence solutions, global medical assistance, and emergency response services to safeguard personnel health. The company also provides mobile applications to enhance communication and support during travel. Founded in 1999 and headquartered in Annapolis, Maryland, WorldAware has expanded its presence internationally with offices in London, Singapore, Japan, India, and Germany. Formerly known as iJET International, Inc., the company rebranded to WorldAware in June 2018 and operates as a subsidiary of Crisis24.

Wine Access

Venture Round in 2000
Wine Access is an online retailer specializing in exceptional wines sourced from family-owned estates and renowned winemakers. The company curates its selection through a rigorous screening process overseen by a Master of Wine and a Master Sommelier, ensuring that each wine meets high standards of quality and provenance. Its platform features a diverse range of premium wines, including Billecart-Salmon champagne, red wines, and fruit-flavored options, allowing customers to explore a variety of collections. Wine Access guarantees the quality and authenticity of its products from the winery to the consumer's door, making it a trusted source for wine enthusiasts.

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 delivers high-quality content services that equip clients with timely pricing data, comprehensive news reports, expert analysis, and professional research. By utilizing multiple channels, Internet Publishing Group aims to enhance the information landscape for businesses, enabling them to make informed decisions in a competitive market.

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 is an online community platform dedicated to enhancing the relationship between grandparents and their grandchildren. The platform serves as a resource for grandparents, providing valuable information and facilitating interactions with their grandchildren. It addresses a wide range of grandparenting topics, including serious issues such as visitation rights and discipline, as well as more lighthearted subjects like travel, games, reading activities, and gift selection for special occasions. By offering a feature-rich environment, iGrandparents.com aims to support grandparents in nurturing and enriching their bonds with their grandchildren.

Doctor Quality

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 individuals to buy and sell previously-owned goods at discounted prices. Founded in 1999 by Josh Kopelman and Sunny Balijepalli, the platform gained attention for its unique business model focused on offering items for at least half off their list prices. In June 2000, Half.com was acquired by eBay, further expanding its reach within the e-commerce sector. As part of its marketing strategy, the company made headlines by temporarily renaming the town of Halfway, Oregon, to "Half.com, Oregon," demonstrating its innovative approach to branding and community engagement.
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