Novitas Capital

Novitas Capital is a venture capital firm based in Wayne, Pennsylvania, with additional offices in Pittsburgh, Pennsylvania, Allendale, New Jersey, and Morgantown, West Virginia. Founded in 1997, the firm specializes in seed, start-up, and early-stage investments primarily in technology and life science sectors. Novitas Capital focuses on identifying and nurturing innovative companies that demonstrate strong intellectual capital, proven leadership, and unique market positioning. With a commitment to supporting the growth and value creation of its portfolio, Novitas typically leads investment rounds and plays an active role in the success of its approximately 30 active portfolio companies. Over more than a decade of operation, Novitas has developed a robust investment philosophy and strong partner relationships, successfully generating returns in a landscape where funding for early-stage ventures is often limited. The firm currently manages around $237 million across three venture funds.

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 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 is a women's healthcare company dedicated to addressing the unmet health needs of women through the development and commercialization of prescription contraceptive products. The company's lead product, Twirla, is a once-weekly transdermal patch that delivers a combination of levonorgestrel and ethinylestradiol, providing a non-daily contraceptive option. In addition to Twirla, Agile Therapeutics is advancing a pipeline of related products, including various regimens designed to offer customizable menstrual cycle management options, such as AG200-ER for extended cycles and AG200-SP for lighter periods. The firm's proprietary Skinfusion technology facilitates effective drug delivery through the skin. Headquartered in Princeton, New Jersey, Agile Therapeutics aims to enhance women's reproductive health by providing innovative contraceptive solutions.

LifeShield

Venture Round in 2011
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.

Nistica

Series D in 2011
Nistica, Inc. specializes in the development and manufacturing of optical networking modules designed to enhance the delivery of high-bandwidth applications. The company offers a range of products, including reconfigurable optical add/drop multiplexer (ROADM) subsystems, low port-count wavelength selective switch modules, wave blocker arrays with optical programmability, and high port-count series products. Its FLEXBOX, a disaggregated ROADM node, is tailored for software-defined networks, while the company's ROADM linecards support various optical networking needs. Founded in 2005 and based in Bridgewater, New Jersey, Nistica serves optical system original equipment manufacturers (OEMs) both domestically and internationally, aiming to automate and simplify the optical network infrastructure. In 2012, Nistica was acquired by Molex Optical Solutions Group.

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 is a women's healthcare company dedicated to addressing the unmet health needs of women through the development and commercialization of prescription contraceptive products. The company's lead product, Twirla, is a once-weekly transdermal patch that delivers a combination of levonorgestrel and ethinylestradiol, providing a non-daily contraceptive option. In addition to Twirla, Agile Therapeutics is advancing a pipeline of related products, including various regimens designed to offer customizable menstrual cycle management options, such as AG200-ER for extended cycles and AG200-SP for lighter periods. The firm's proprietary Skinfusion technology facilitates effective drug delivery through the skin. Headquartered in Princeton, New Jersey, Agile Therapeutics aims to enhance women's reproductive health by providing 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. specializes in the development and manufacturing of optical networking modules designed to enhance the delivery of high-bandwidth applications. The company offers a range of products, including reconfigurable optical add/drop multiplexer (ROADM) subsystems, low port-count wavelength selective switch modules, wave blocker arrays with optical programmability, and high port-count series products. Its FLEXBOX, a disaggregated ROADM node, is tailored for software-defined networks, while the company's ROADM linecards support various optical networking needs. Founded in 2005 and based in Bridgewater, New Jersey, Nistica serves optical system original equipment manufacturers (OEMs) both domestically and internationally, aiming to automate and simplify the optical network infrastructure. 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 offers a comprehensive pay-per-click software platform designed to help advertisers and agencies efficiently manage extensive paid search campaigns. The platform integrates access to campaigns across major search engines such as Google, Yahoo!, and MSN within a single web interface. It features tools for bid management, campaign editing, and detailed reporting. Additionally, ClickEquations provides an advanced Excel plug-in known as ClickEquations Analyst, which enhances analytical capabilities by offering customizable and shareable reports and dashboards. The platform's services also include browser-based reporting, metric analysis, and the ability to manually adjust bids through defined rules, making it a versatile solution for search professionals.

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 offers cloud-based field service management software designed for businesses operating in various sectors, including telecommunications, utilities, healthcare, and retail. Their primary product, ETAdirect, utilizes a patented time-based predictive analytics platform to optimize mobile field service operations. This software learns from individual employee performance to identify patterns and predict the most efficient routes based on real-time data. By effectively communicating updates to consumers throughout the service process, ETAdirect enhances operational efficiency, reduces customer wait times, and increases overall productivity for field service teams.

Nistica

Series B in 2008
Nistica, Inc. specializes in the development and manufacturing of optical networking modules designed to enhance the delivery of high-bandwidth applications. The company offers a range of products, including reconfigurable optical add/drop multiplexer (ROADM) subsystems, low port-count wavelength selective switch modules, wave blocker arrays with optical programmability, and high port-count series products. Its FLEXBOX, a disaggregated ROADM node, is tailored for software-defined networks, while the company's ROADM linecards support various optical networking needs. Founded in 2005 and based in Bridgewater, New Jersey, Nistica serves optical system original equipment manufacturers (OEMs) both domestically and internationally, aiming to automate and simplify the optical network infrastructure. 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 a company based in Warrendale, Pennsylvania, that specializes in the development of dialysis products and services. Founded in 2000 and acquired by Fresenius Medical Care in 2007, the company focuses on creating integrated medical devices for sorbent hemodialysis treatment. These devices provide a clinical care model tailored for patients with chronic and acute kidney failure, allowing healthcare practitioners to offer flexible and convenient treatment options. Renal Solutions aims to enhance renal care through innovative sorbent-based dialysis technologies.

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.

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. 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.

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 specializes in providing content services aimed at the B2B market. The company delivers specialized market news and analysis to enhance the effectiveness of B2B websites. Its offerings include timely pricing data, in-depth news reports, expert analysis, and professional research, enabling clients to access high-quality information through various channels.

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 relationships between grandparents and their grandchildren. The platform serves as a comprehensive resource, providing information and facilitating interaction on a variety of grandparenting topics. It addresses both serious issues, such as grandparent visitation rights and discipline during visits, as well as lighter subjects, including travel ideas, game suggestions, and gift selection for birthdays. By offering a rich array of features and content, iGrandparents.com aims to support and enrich the lives of both grandparents and their grandchildren, fostering stronger familial connections.

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 significant discounts, 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, including a notable promotion in which it paid the town of Halfway, Oregon, to temporarily rename itself "Half.com, Oregon." In June 2000, Half.com was acquired by eBay, further expanding its reach in the e-commerce sector. The platform is designed to provide an organized environment for users to engage in transactions, promoting affordability and accessibility in the marketplace.
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