Pappas Capital

Pappas Capital, LLC is a venture capital firm based in Durham, North Carolina, with an additional office in San Diego, California. Founded in 1994, the firm specializes in the life sciences sector, focusing on biotechnology, biopharmaceuticals, drug delivery, medical devices, and diagnostics. Pappas Capital primarily invests in companies during their Series A and B financing rounds, preferring those that are close to initiating human clinical trials or are advancing through Phase 1 and Phase 2 studies. The firm typically invests between $0.1 million and $6 million, acting as a lead or co-lead investor in many of its portfolio companies. With a strong emphasis on North America, Pappas Capital allocates a significant portion of its capital to California and the East Coast, particularly the Research Triangle area of North Carolina, while also exploring opportunities in Texas, Indiana, and Canada. Additionally, the firm seeks investments in Asia, supporting next-generation innovations in life sciences and related fields.

Drew Cutshaw

Senior Associate

Brian Gibbs

Investment Analyst and Deal Flow Manager

Miranda Gottlieb

Venture Partner

Phillip Graham

Senior Associate

Mike Grey

Venture Partner

Elizabeth Kelly

Managing Director

Nick Pappas

Venture Partner

Rosina Maar Pavia

Venture Partner

Scott Weiner

Partner

Peter Young

Senior Venture Partner

Catherine Yue

Associate

85 past transactions

Solu Therapeutics

Series A in 2025
Solu Therapeutics is a precision medicine company dedicated to developing innovative therapeutics aimed at eliminating cells responsible for driving diseases. Utilizing a unique cytotoxicity-targeting chimera platform, Solu Therapeutics focuses on oncology and also addresses inflammatory and autoimmune diseases. By targeting these disease-driving cells, the company's approach seeks to assist medical professionals in reducing the risks associated with various oncological conditions, ultimately improving patient outcomes and advancing therapeutic options in the healthcare sector.

Enlaza Therapeutics

Series A in 2024
Enlaza Therapeutics is a biotechnology research company founded in 2020 and based in La Jolla, California. The company focuses on developing novel protein therapeutics aimed at providing more effective and safer treatment options for patients. Utilizing advanced synthetic biology technology, Enlaza's platform enables site-specific covalent coupling driven by drug binding. This innovative approach allows for the creation of first-in-class covalent biologics, which are designed to offer enhanced efficacy and improved safety profiles compared to existing treatments.

RoboCT Technology

Venture Round in 2023
RoboCT specializes in developing exoskeleton robot technology aimed at assisting patients with lower-body motor dysfunction in regaining mobility. The company focuses on rehabilitation and elderly care, offering innovative products and solutions for medical institutions and individual users. By integrating human-computer interaction, artificial intelligence, data analysis, and cloud computing, RoboCT enhances human functionality through robotic advancements. Their commitment extends beyond rehabilitation, as they seek to broaden the application of exoskeleton technology across various sectors, including health, transportation, security, and entertainment. The aim is to provide intelligent solutions and rehabilitation aids that empower individuals with disabilities, the elderly, and those in need of medical rehabilitation.

Veralox Therapeutics

Venture Round in 2023
Veralox Therapeutics specializes in the development of small molecule therapeutics aimed at addressing the underlying pathologies of thrombosis and type one diabetes. The company focuses on innovative treatment paradigms informed by a deep understanding of the molecular mechanisms involved in these diseases. By targeting conditions such as heparin-induced thrombocytopenia and thrombosis, Veralox Therapeutics aims to enhance patient outcomes and facilitate complete recovery from diabetes. Through its research and development efforts, the company seeks to provide effective and transformative therapies for individuals affected by these serious health conditions.

VFlow Tech

Series A in 2023
Vflow Tech is a Singapore-based company that specializes in the manufacturing of modular vanadium redox flow batteries. These batteries are designed for large-scale energy storage applications, catering primarily to the utility and renewable energy sectors. Vflow Tech's innovative approach incorporates industry-focused research and user feedback to create safe, long-lasting, and cost-effective energy storage solutions. The modular design of their batteries allows for scalability, making them suitable for a range of applications from households and micro-grids to grid-level storage. The company emphasizes the reliability and environmental friendliness of its products, offering clients a sustainable energy storage option that maintains consistent performance without degradation over time.

Aktis Oncology

Series A in 2022
Aktis Oncology is a biotechnology company focused on developing targeted radiopharmaceuticals for the treatment of various solid tumor cancers. The company has created proprietary platforms that generate tumor-targeting agents optimized for alpha radiotherapy. These agents are engineered to achieve high penetration into tumors and prolonged residence time, allowing for effective tumor elimination while reducing side effects associated with treatment. Additionally, Aktis Oncology's innovative approach enables clinicians to visualize and confirm target engagement before administering therapeutic radioisotopes, enhancing the precision of cancer treatment.

NuProbe

Series B in 2022
NuProbe, Inc. is a genomics and molecular diagnostics company that focuses on noninvasive nucleic acid profiling and diagnostics. Founded in 2016 and headquartered in Cambridge, Massachusetts, with an additional office in Shanghai, China, NuProbe has developed a platform that utilizes genetic toehold probes for quantitative PCR mutation detection. The company's innovative technology offers a Sample-In Answer-Out (SIAO) solution, which seamlessly integrates cell-free DNA extraction, qPCR analysis, sequencing, and bioinformatic interpretation. This precision diagnostic technology is designed to facilitate the early detection of cancer and infectious diseases by accurately capturing disease signatures with high sensitivity and multiplexing capability, allowing healthcare professionals to initiate timely interventions for patients.

Yueer Gene

Series B in 2022
Yueer is a genomics company driven by technology, with a number of revolutionary molecular detection technologies that can reduce the sequencing cost of all NGS platforms and the sensitivity of qPCR, Sanger, and nanopore sequencing. Yueer Gene collaborates with many partners to develop affordable, timely, and accurate genetic analysis tools in order to achieve precision medicine and improve patient outcomes.

Horizon Quantum

Series A in 2022
Horizon Quantum Computing Pte. Ltd., established in 2018 and headquartered in Singapore, focuses on creating software development tools that facilitate the development of quantum software applications. The company's innovative tools aim to bridge the gap between quantum computing and conventional software development, allowing researchers to enhance their productivity. By utilizing abstraction techniques, Horizon's solutions enable software engineers to engage in quantum application development without requiring prior experience in quantum computing. This approach not only simplifies the development process but also broadens access to quantum-enhanced applications, contributing to advancements in the field of quantum technology.

Us2.ai

Series A in 2022
Us2.ai is a Singapore-based company that develops artificial intelligence-driven software and digital tools specifically for echocardiography. The company offers online solutions that streamline access to results from echocardiogram analyses and heart ultrasounds. Its machine learning platform automates the traditionally manual process of measuring and interpreting echocardiograms, enhancing the efficiency of cardiovascular research and clinical trials. By providing AI-based decision support tools, Us2.ai aims to save physicians time, improve the accuracy of clinical trials for pharmaceutical companies, and assist in the detection of conditions that are often overlooked or difficult to diagnose in hospital settings.

Plexium

Series B in 2022
Plexium, Inc. is a biotechnology company based in San Diego, California, that specializes in developing targeted protein degradation therapies aimed at treating cancer and neurodegenerative diseases. Founded in 2017, Plexium utilizes a platform that identifies small molecules capable of modulating E3 ligases, which play a crucial role in protein degradation. This platform includes the DELPhe screening technology, designed for high-content readouts from cell-based assays. By harnessing E3 ligases, Plexium's approach enables selective targeting of various cancers, including small cell lung and breast tumors. The company's innovative research extends beyond existing therapies, exploring new drug-like protein degraders and molecular glues to enhance treatment options for cancer and inflammatory diseases.

AvengeBio

Series A in 2022
AvengeBio is a biotechnology company based in Cambridge, Massachusetts, focused on developing cell-generated immunotherapies aimed at eradicating solid tumors. Founded in 2019, the company is advancing a drug delivery platform designed to enable the precision delivery of cytokines and other potent immunomodulatory molecules. This innovative approach allows for controlled release over time, fostering robust local and systemic anti-tumor immune responses while minimizing the toxicities typically associated with conventional immunotherapies. Through its research and development efforts, AvengeBio seeks to address the challenges posed by intractable solid tumors and improve treatment outcomes for cancer patients.

BioAtla

Post in 2021
BioAtla, Inc. is a clinical-stage biopharmaceutical company based in San Diego, California, focused on developing innovative antibody-based therapeutics for cancer treatment. The company utilizes its proprietary platforms, Conditionally Active Biologics (CAB) and Comprehensive Integrated Antibody Optimization (CIAO!), to create highly selective and effective drugs. Its lead product candidate, BA3011, is a conditionally active biologic antibody-drug conjugate targeting soft tissue and bone sarcomas, non-small cell lung cancer, and other tumor types. Additionally, BioAtla is developing BA3021, aimed at non-small cell lung cancer and melanoma, as well as BA3071, which targets multiple cancers, including renal cell carcinoma and hepatocellular carcinoma. The company holds over 150 issued patents and applications, emphasizing its commitment to improving drug selectivity and safety while expanding the range of treatable cancers.

Reneo Pharmaceuticals

Series B in 2020
Reneo Pharmaceuticals is a clinical-stage pharmaceutical company based in San Diego, California, that focuses on developing therapies for patients with rare genetic mitochondrial diseases. These conditions are linked to defects in energy metabolism, leading to issues such as muscle weakness and wasting. The company is developing REN001, an oral drug designed to modulate genes involved in mitochondrial function, aiming to enhance adenosine triphosphate (ATP) production, which is essential for cellular energy. By improving mitochondrial activity, Reneo seeks to enhance the daily functioning and quality of life for patients suffering from these disorders. Founded in 2014, Reneo Pharmaceuticals is committed to addressing the needs of individuals with orphan metabolic diseases.

Cyclerion Therapeutics

Post in 2020
Cyclerion Therapeutics is a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing treatments for serious and orphan diseases. The company specializes in soluble guanylate cyclase (sGC) pharmacology to realize the therapeutic potential of next-generation sGC stimulators. Its product pipeline includes Olinciguat, an oral sGC stimulator currently in Phase II trials for sickle cell disease; Praliciguat, also an oral sGC stimulator in Phase II for diabetic nephropathy and heart failure with preserved ejection fraction; and IW-6463, which is in Phase I trials for neurodegenerative diseases. Additionally, Cyclerion is engaged in the discovery of liver-targeted and lung-targeted sGC stimulators. Founded in 2018, the company is headquartered in Cambridge, Massachusetts.

BioAtla

Series D in 2020
BioAtla, Inc. is a clinical-stage biopharmaceutical company based in San Diego, California, focused on developing innovative antibody-based therapeutics for cancer treatment. The company utilizes its proprietary platforms, Conditionally Active Biologics (CAB) and Comprehensive Integrated Antibody Optimization (CIAO!), to create highly selective and effective drugs. Its lead product candidate, BA3011, is a conditionally active biologic antibody-drug conjugate targeting soft tissue and bone sarcomas, non-small cell lung cancer, and other tumor types. Additionally, BioAtla is developing BA3021, aimed at non-small cell lung cancer and melanoma, as well as BA3071, which targets multiple cancers, including renal cell carcinoma and hepatocellular carcinoma. The company holds over 150 issued patents and applications, emphasizing its commitment to improving drug selectivity and safety while expanding the range of treatable cancers.

VelosBio

Series B in 2020
VelosBio, Inc. is a clinical-stage biopharmaceutical company based in San Diego, California, focused on developing innovative antibody-drug conjugates (ADCs) to treat various forms of cancer, including hematological cancers and solid tumors. The company's primary area of research centers on targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1), a cell-surface protein found in numerous tumors but absent in normal tissues, which makes it a promising target for cancer therapy. VelosBio's lead product, VLS-101, is a ROR1-directed ADC that has shown positive preclinical results and aims to provide new treatment options for patients. Founded in 2017, VelosBio operates under the umbrella of Merck & Co., Inc. as of December 2020, focusing on developing targeted therapies that can be administered alone or in combination with other treatments across a wide range of cancer types.

4D Molecular Therapeutics

Series C in 2020
4D Molecular Therapeutics is a clinical-stage gene therapy company based in Emeryville, California, that specializes in developing innovative gene therapy products to address unmet medical needs. The company utilizes targeted and evolved adeno-associated virus vectors to create a diverse portfolio of product candidates focused on ophthalmology, cardiology, and pulmonology. Among its key projects are 4D-125, currently in a Phase I/II clinical trial for X-linked retinitis pigmentosa; 4D-110, in a Phase I clinical trial for choroideremia; and 4D-310, also in a Phase I/II trial for Fabry disease. Additionally, 4D Molecular Therapeutics is advancing investigational new drug candidates such as 4D-150 for wet age-related macular degeneration and 4D-710 for cystic fibrosis lung disease. Founded in 2013, the company is dedicated to transforming the treatment landscape in these therapeutic areas.

Amplyx Pharmaceuticals

Series C in 2020
Amplyx Pharmaceuticals is a small molecule drug development company focused on creating innovative therapies for life-threatening infections, particularly in patients with compromised immune systems. Founded in 2006 and based in San Diego, California, the company specializes in developing oral and injectable anti-infective drugs, including antifungal agents aimed at treating invasive fungal infections caused by pathogens such as Candida and Aspergillus. Amplyx employs a unique platform approach that enhances the efficacy and reduces the toxicity of existing drugs by combining them with additional small molecules. This strategy addresses critical treatment needs in hospital settings and provides effective therapy options for patients after discharge, particularly those undergoing chemotherapy and other immunosuppressive treatments.

Allievex

Series A in 2019
Allievex Corporation is a clinical-stage biotechnology company based in Marblehead, Massachusetts, focused on developing and commercializing innovative therapeutics for rare pediatric neurodegenerative diseases. Founded in 2018, the company is advancing an investigational enzyme replacement therapy known as tralesinidase alfa, which combines recombinant human alpha-N-acetyglucosaminidase with a peptide derived from insulin-like growth factor 2. This therapy aims to provide treatment options for children suffering from Sanfilippo syndrome type B and mucopolysaccharidosis IIIB, both of which are severe conditions that significantly impact neurological function.

Reneo Pharmaceuticals

Series A in 2019
Reneo Pharmaceuticals is a clinical-stage pharmaceutical company based in San Diego, California, that focuses on developing therapies for patients with rare genetic mitochondrial diseases. These conditions are linked to defects in energy metabolism, leading to issues such as muscle weakness and wasting. The company is developing REN001, an oral drug designed to modulate genes involved in mitochondrial function, aiming to enhance adenosine triphosphate (ATP) production, which is essential for cellular energy. By improving mitochondrial activity, Reneo seeks to enhance the daily functioning and quality of life for patients suffering from these disorders. Founded in 2014, Reneo Pharmaceuticals is committed to addressing the needs of individuals with orphan metabolic diseases.

Ribometrix

Series A in 2018
Ribometrix, Inc. is a biotechnology company based in Durham, North Carolina, focused on discovering and developing small molecule drugs that target functional three-dimensional RNA structures to treat various human diseases. Established in 2014, the company utilizes advanced expertise in RNA structural analysis to identify novel small molecules that can inhibit the production of proteins associated with diseases. Ribometrix's innovative platform combines proprietary RNA structure determination techniques with cutting-edge RNA tools and artificial intelligence capabilities, allowing researchers to effectively analyze and manipulate RNA biology. The company operates scientific offices in a renovated Biolabs space in Durham, along with additional offices in Chapel Hill and Boston.

Mirum Pharmaceuticals

Series A in 2018
Mirum Pharmaceuticals is a biopharmaceutical company dedicated to developing and commercializing therapies for serious liver diseases. Founded in 2018 and based in Foster City, California, the company focuses on addressing rare and orphan diseases. Its lead product candidate, maralixibat, is an investigational oral drug currently in Phase 3 clinical trials for treating progressive familial intrahepatic cholestasis (PFIC), Alagille syndrome (ALGS), and biliary atresia. Additionally, Mirum is developing volixibat, aimed at treating intrahepatic cholestasis of pregnancy and primary sclerosing cholangitis. The company’s commitment to innovative therapies positions it as a key player in the biopharmaceutical landscape dedicated to improving the lives of patients with debilitating liver conditions.

Milestone Pharmaceuticals

Series D in 2018
Milestone Pharmaceuticals Inc. is a biopharmaceutical company based in Montréal, Canada, focused on developing and commercializing etripamil for various cardiovascular conditions. Etripamil is a novel short-acting calcium channel blocker designed to be administered as a rapid-onset nasal spray, specifically targeting the termination of episodes of paroxysmal supraventricular tachycardia (PSVT). The company is currently conducting Phase III clinical trials for etripamil in the treatment of PSVT and is also exploring its potential applications for atrial fibrillation, angina, and other related cardiovascular disorders. Founded in 2003, Milestone Pharmaceuticals aims to address unmet medical needs in cardiovascular disease management through innovative therapeutic solutions.

CuraSen Therapeutics

Series A in 2018
CuraSen Therapeutics Inc. is a biotechnology company focused on developing therapies for neurodegenerative diseases. The company specializes in small molecule drugs that target a novel mechanism in the brain, aiming to restore function, improve symptoms, and modify the progression of conditions such as Parkinson's disease, Alzheimer's disease, and less common orphan neurodegenerative disorders. Founded in 2016, CuraSen Therapeutics is headquartered in Los Altos, California.

VelosBio

Series A in 2018
VelosBio, Inc. is a clinical-stage biopharmaceutical company based in San Diego, California, focused on developing innovative antibody-drug conjugates (ADCs) to treat various forms of cancer, including hematological cancers and solid tumors. The company's primary area of research centers on targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1), a cell-surface protein found in numerous tumors but absent in normal tissues, which makes it a promising target for cancer therapy. VelosBio's lead product, VLS-101, is a ROR1-directed ADC that has shown positive preclinical results and aims to provide new treatment options for patients. Founded in 2017, VelosBio operates under the umbrella of Merck & Co., Inc. as of December 2020, focusing on developing targeted therapies that can be administered alone or in combination with other treatments across a wide range of cancer types.

4D Molecular Therapeutics

Series B in 2018
4D Molecular Therapeutics is a clinical-stage gene therapy company based in Emeryville, California, that specializes in developing innovative gene therapy products to address unmet medical needs. The company utilizes targeted and evolved adeno-associated virus vectors to create a diverse portfolio of product candidates focused on ophthalmology, cardiology, and pulmonology. Among its key projects are 4D-125, currently in a Phase I/II clinical trial for X-linked retinitis pigmentosa; 4D-110, in a Phase I clinical trial for choroideremia; and 4D-310, also in a Phase I/II trial for Fabry disease. Additionally, 4D Molecular Therapeutics is advancing investigational new drug candidates such as 4D-150 for wet age-related macular degeneration and 4D-710 for cystic fibrosis lung disease. Founded in 2013, the company is dedicated to transforming the treatment landscape in these therapeutic areas.

Amplyx Pharmaceuticals

Series C in 2017
Amplyx Pharmaceuticals is a small molecule drug development company focused on creating innovative therapies for life-threatening infections, particularly in patients with compromised immune systems. Founded in 2006 and based in San Diego, California, the company specializes in developing oral and injectable anti-infective drugs, including antifungal agents aimed at treating invasive fungal infections caused by pathogens such as Candida and Aspergillus. Amplyx employs a unique platform approach that enhances the efficacy and reduces the toxicity of existing drugs by combining them with additional small molecules. This strategy addresses critical treatment needs in hospital settings and provides effective therapy options for patients after discharge, particularly those undergoing chemotherapy and other immunosuppressive treatments.

Milestone Pharmaceuticals

Series C in 2017
Milestone Pharmaceuticals Inc. is a biopharmaceutical company based in Montréal, Canada, focused on developing and commercializing etripamil for various cardiovascular conditions. Etripamil is a novel short-acting calcium channel blocker designed to be administered as a rapid-onset nasal spray, specifically targeting the termination of episodes of paroxysmal supraventricular tachycardia (PSVT). The company is currently conducting Phase III clinical trials for etripamil in the treatment of PSVT and is also exploring its potential applications for atrial fibrillation, angina, and other related cardiovascular disorders. Founded in 2003, Milestone Pharmaceuticals aims to address unmet medical needs in cardiovascular disease management through innovative therapeutic solutions.

Kezar Life Sciences

Series B in 2017
Kezar Life Sciences, Inc. is a clinical-stage biotechnology company specializing in the discovery and development of small molecule therapeutics aimed at addressing unmet medical needs in autoimmunity and cancer. The company's lead candidate, KZR-616, is a selective immunoproteasome inhibitor currently undergoing Phase 2 clinical trials for various autoimmune conditions, including lupus nephritis and autoimmune hemolytic anemia, as well as Phase 1b/2 trials in systemic lupus erythematosus. In addition to KZR-616, the company is developing KZR-TBD, which targets both oncology and autoimmune disorders. Founded in 2015 and based in South San Francisco, California, Kezar Life Sciences leverages insights from protein homeostasis to advance its drug discovery efforts.

OrphoMed

Series A in 2017
OrphoMed, Inc. is a San Francisco-based pharmaceutical company that specializes in developing innovative therapies for conditions such as irritable bowel syndrome with diarrhea (IBS-D), acute and chronic pain, and cystic fibrosis. The company utilizes its proprietary DIMERx™ platform technology to create novel therapeutic dimer conjugates that address visceral hypersensitivity and pancreatitis, particularly in gastrointestinal disorders and pain management. Its lead candidate, ORP-101, is designed as a peripherally acting sodium ion channel blocker that offers potential benefits without the abuse potential associated with traditional opioids. ORP-101 is positioned for two distinct indications: an oral form targeting colonic hyperalgesia and gastric dysmotility in IBS-D, and a parenteral form for treating peripheral neuropathic pain. OrphoMed is also developing additional non-opioid and opioid conjugates aimed at treating acute and chronic pain, with a focus on safety and reduced dependence risk. The components of these conjugates are based on previously validated compounds, which helps to lower developmental risks while providing new treatment options for patients.

Boragen

Series A in 2017
Boragen Inc. is a biotechnology company based in Durham, North Carolina, founded in 2015. The company specializes in developing multi-functional small molecule boron solutions for applications in crop protection, animal health, and human health. Boragen's product pipeline includes BAG8, a boron-based multisite fungicide aimed at crop protection, and BN2266, a fungicide that targets mRNA processing. Additionally, the company is working on a dual-function nematicide-fungicide for root protection and endo-parasiticides designed to overcome resistance. Boragen's innovative synthetic chemistry platform focuses on creating next-generation fungicides that support sustainable farming by minimizing the risk of fungicide resistance and reducing chemical usage while ensuring efficacy and performance.

Evidation Health

Series B in 2016
Evidation Health, Inc. specializes in developing digital tools and technologies for healthcare data analytics. The company connects digital health firms with healthcare providers and payers through its advanced platform, which transforms everyday behavior data from various sources, including sensors and devices, into actionable insights regarding health and disease. Its products include a Data Platform that analyzes this high-frequency behavior data and a technology-enabled service called Studies, which facilitates real-world research to support clinical and commercial efforts. By focusing on the interplay between everyday behaviors and health outcomes, Evidation aims to empower individuals and healthcare companies to improve health management outside traditional clinical settings. Founded in 2012 and headquartered in San Mateo, California, the company also operates additional offices in San Francisco and Santa Barbara.

Rotation Medical

Series B in 2016
Rotation Medical Inc. is a medical device company based in Plymouth, Minnesota, specializing in the development of a minimally invasive rotator cuff implant system designed for the treatment of rotator cuff diseases. The company's primary product is a collagen scaffold that is affixed to the affected rotator cuff tendon, aimed at managing tendon injuries and providing protection for both small and larger rotator cuff tears. Founded in 2009 and initially known as Denali Medical Inc., the company rebranded to Rotation Medical in March 2010. As of December 2017, Rotation Medical operates as a subsidiary of Smith & Nephew plc.

Milestone Pharmaceuticals

Series B in 2015
Milestone Pharmaceuticals Inc. is a biopharmaceutical company based in Montréal, Canada, focused on developing and commercializing etripamil for various cardiovascular conditions. Etripamil is a novel short-acting calcium channel blocker designed to be administered as a rapid-onset nasal spray, specifically targeting the termination of episodes of paroxysmal supraventricular tachycardia (PSVT). The company is currently conducting Phase III clinical trials for etripamil in the treatment of PSVT and is also exploring its potential applications for atrial fibrillation, angina, and other related cardiovascular disorders. Founded in 2003, Milestone Pharmaceuticals aims to address unmet medical needs in cardiovascular disease management through innovative therapeutic solutions.

Thrasos

Series D in 2015
Thrasos is a bio-therapeutics company dedicated to discovering and developing targeted therapies for severe organ failure, with a primary emphasis on kidney diseases. The company's lead program, THR-184, aims to prevent and treat acute kidney injury (AKI). Additionally, Thrasos is advancing a preclinical development program that addresses chronic kidney disease (CKD). The company also focuses on developing innovative treatments for rare kidney-related conditions, such as myeloma cast nephropathy, which occurs when protein aggregates obstruct renal tubules, leading to the risk of permanent kidney damage. Through its efforts, Thrasos seeks to provide timely and effective treatment options for patients suffering from these serious kidney issues.

Balance Therapeutics

Series A in 2015
Balance Therapeutics, Inc. is a research and development company dedicated to creating pharmacological therapies for intellectual disabilities, particularly focusing on Down syndrome and Alzheimer’s disease. The company is developing BTD-001 DS102, an oral, placebo-controlled treatment aimed at young adults and adolescents with Down syndrome. This innovative approach is based on technology licensed from Stanford University and has shown promise in animal models for addressing cognitive deficits associated with these conditions. Currently, clinical trials for BTD-001 DS102 are underway. Founded in 2009, Balance Therapeutics is headquartered in San Bruno, California, and has a wholly-owned subsidiary in Melbourne, Australia.

Aura Biosciences

Series B in 2015
Aura Biosciences, Inc. is a clinical-stage biotechnology company based in Cambridge, Massachusetts, focused on developing therapies to target and destroy cancer cells using viral nanoparticle conjugates. The company’s lead product, AU-011, utilizes viral nanoparticles modeled on the human papillomavirus, conjugated with infrared-activated small molecules, specifically for the treatment of ocular melanoma, a primary eye cancer. By employing nanotechnology, Aura aims to safely eliminate cancer locally, particularly in early-stage cases, to prevent progression to more severe forms of the disease, such as metastasis to the liver. Additionally, the company is advancing its bel-sar candidate for treating primary choroidal melanoma and exploring applications in bladder cancer. Founded in 2007, Aura Biosciences is committed to developing precision immunotherapies that preserve the function of organs affected by cancer.

CoLucid Pharmaceuticals

Series C in 2015
CoLucid Pharmaceuticals, Inc. is a biotechnology company based in Research Triangle Park, North Carolina, established in 2005. The company specializes in developing therapies for central nervous system disorders. Its primary product, COL-144, is an anti-migraine agent aimed at treating migraine headaches. Additionally, CoLucid is working on COL-204, a conjugated stigmine platform designed to create novel therapeutic entities for various conditions, including sleep/wake disorders, chronic pain, Alzheimer's disease, and psychiatric disorders. Through its innovative approaches, CoLucid Pharmaceuticals aims to address significant unmet medical needs in the field of neurology.

Rotation Medical

Series B in 2014
Rotation Medical Inc. is a medical device company based in Plymouth, Minnesota, specializing in the development of a minimally invasive rotator cuff implant system designed for the treatment of rotator cuff diseases. The company's primary product is a collagen scaffold that is affixed to the affected rotator cuff tendon, aimed at managing tendon injuries and providing protection for both small and larger rotator cuff tears. Founded in 2009 and initially known as Denali Medical Inc., the company rebranded to Rotation Medical in March 2010. As of December 2017, Rotation Medical operates as a subsidiary of Smith & Nephew plc.

Lumena Pharmaceuticals

Series B in 2014
Lumena Pharmaceuticals is focused on developing oral therapeutics for rare liver diseases, aiming to enhance liver function and alleviate disease symptoms. The company's clinical-stage product candidates are designed to selectively target intestinal transporters, minimizing systemic toxicity and absorption in the body. Their lead candidate, LUM001, has undergone extensive evaluation through 12 clinical studies involving over 1,400 subjects, positioning it for rapid advancement in treating cholestatic liver disease in both pediatric and adult patients. In addition to its primary goal of addressing rare liver diseases, Lumena's innovative therapeutic approach shows promise for treating metabolic liver diseases, a significant and rising health concern affecting both children and adults.

Envisia Therapeutics

Series A in 2013
Envisia Therapeutics Inc. is a company focused on discovering and developing innovative therapies for ophthalmic medical needs. Founded in 2013 and based in Durham, North Carolina, the company utilizes its proprietary Particle Replication In Non-Wetting Templates (PRINT) technology to create a range of particle-based therapies. Envisia is particularly known for its lead product, ENV515, a prostaglandin analogue designed to deliver sustained intraocular pressure reduction for extended periods. In addition to this, the company is developing glaucoma drug therapies that leverage PRINT particle therapeutics to improve drug delivery and efficacy while addressing common barriers faced by existing ocular treatments. As the demand for more effective ocular therapeutics continues to grow, Envisia aims to enhance patient outcomes and convenience in the management of ocular diseases.

Lumena Pharmaceuticals

Series A in 2013
Lumena Pharmaceuticals is focused on developing oral therapeutics for rare liver diseases, aiming to enhance liver function and alleviate disease symptoms. The company's clinical-stage product candidates are designed to selectively target intestinal transporters, minimizing systemic toxicity and absorption in the body. Their lead candidate, LUM001, has undergone extensive evaluation through 12 clinical studies involving over 1,400 subjects, positioning it for rapid advancement in treating cholestatic liver disease in both pediatric and adult patients. In addition to its primary goal of addressing rare liver diseases, Lumena's innovative therapeutic approach shows promise for treating metabolic liver diseases, a significant and rising health concern affecting both children and adults.

Afferent Pharmaceuticals

Venture Round in 2013
Afferent Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in San Mateo, California, founded in 2009. The company focuses on developing small molecule drugs aimed at treating chronic pain and various neurogenic disorders by targeting P2X3 receptors in nerve fibers. Its lead compound, AF-219, has completed two Phase 1 clinical studies and is designed to address conditions such as osteoarthritis, back pain, visceral pain, and neuropathy, as well as respiratory and urological issues.

Ultragenyx Pharmaceutical

Series B in 2012
Ultragenyx Pharmaceutical develops therapeutics for rare diseases, sometimes referred to as Orphan products. Ultragenyx is a efficient and effective development strategies are essential for success in the rare disease space, in which information may be incomplete or ambiguous, and few development precedents exist. The management team's experience in selecting and developing products with clear mechanisms of action for untreated rare diseases will help Ultragenyx create life-changing therapeutics by leveraging existing yet undeveloped science for these little-known indications.

Thrasos

Series C in 2012
Thrasos is a bio-therapeutics company dedicated to discovering and developing targeted therapies for severe organ failure, with a primary emphasis on kidney diseases. The company's lead program, THR-184, aims to prevent and treat acute kidney injury (AKI). Additionally, Thrasos is advancing a preclinical development program that addresses chronic kidney disease (CKD). The company also focuses on developing innovative treatments for rare kidney-related conditions, such as myeloma cast nephropathy, which occurs when protein aggregates obstruct renal tubules, leading to the risk of permanent kidney damage. Through its efforts, Thrasos seeks to provide timely and effective treatment options for patients suffering from these serious kidney issues.

IlluminOss

Series C in 2012
IlluminOss Medical, Inc. is a commercial-stage medical device company that specializes in minimally invasive technology for fracture repair and stabilization. The company has developed a unique system that uses a light-curable polymer within an expandable balloon to create a patient-conforming intramedullary implant, facilitating effective bone stabilization. This innovative approach is particularly beneficial for patients with osteoporotic or compromised bone, providing a tailored solution for orthopedic challenges. The IlluminOss system is CE-marked and FDA-cleared for various anatomical sites, with additional indications under review. By focusing on the design and marketing of orthopedic fracture repair products, IlluminOss aims to offer clinicians a rapid and customized method for stabilizing bone fractures.

CardioDx

Private Equity Round in 2012
CardioDx, Inc. is a molecular diagnostics company based in Redwood City, California, focused on developing genomic tests for cardiovascular diseases. Founded in 2003, the company specializes in assessing conditions such as coronary artery disease (CAD), cardiac arrhythmias, and heart failure. One of its key products is the Corus CAD test, a blood test designed to assist healthcare providers in determining whether a non-diabetic patient's chest discomfort or other symptoms are indicative of obstructive CAD. By leveraging genomic technologies, CardioDx aims to deliver critical information that enhances treatment decisions and improves patient outcomes while also addressing the overall cost of care in the United States.

CeNeRx BioPharma

Series D in 2012
CeNeRx BioPharma, Inc., a drug development company, engages in identifying, developing, and commercializing therapeutics to treat diseases related to neurotransmitters and the nervous system. The company's product pipeline includes Tyrima, CX2614, and CX009, which are reversible inhibitors of monoamine oxidase- A that are used for the treatment of mood, anxiety, and somatic disorders. It focuses on developing therapeutics to treat diseases related to neurotransmitters, including anxiety, bipolar disorder, dementia, depression, epilepsy, neuropathic pain, schizophrenia, and Parkinson's and Alzheimer's diseases. The company was founded in 2005 and is based in Cary, North Carolina.

CoLucid Pharmaceuticals

Venture Round in 2011
CoLucid Pharmaceuticals, Inc. is a biotechnology company based in Research Triangle Park, North Carolina, established in 2005. The company specializes in developing therapies for central nervous system disorders. Its primary product, COL-144, is an anti-migraine agent aimed at treating migraine headaches. Additionally, CoLucid is working on COL-204, a conjugated stigmine platform designed to create novel therapeutic entities for various conditions, including sleep/wake disorders, chronic pain, Alzheimer's disease, and psychiatric disorders. Through its innovative approaches, CoLucid Pharmaceuticals aims to address significant unmet medical needs in the field of neurology.

TESARO

Series B in 2011
Tesaro, Inc. is an oncology-focused biopharmaceutical company established in 2010 and headquartered in Waltham, Massachusetts. The company is dedicated to developing and commercializing cancer therapeutics and supportive care products. Its primary offerings include ZEJULA, a potent oral poly polymerase inhibitor for the maintenance treatment of recurrent ovarian, fallopian tube, or primary peritoneal cancer, and VARUBI, a neurokinin-1 receptor antagonist designed to prevent chemotherapy-induced nausea and vomiting. Additionally, Tesaro is engaged in the development of several immunotherapy antibody candidates, including TSR-042, TSR-022, and TSR-033, all currently in phase I clinical trials. The company collaborates with various organizations, such as AnaptysBio, Janssen Biotech, and Merck Sharp & Dohme, to enhance its research and development efforts. Tesaro aims to leverage its management team's expertise to identify and commercialize innovative treatments that improve the lives of cancer patients. As of January 2019, Tesaro operates as a subsidiary of GlaxoSmithKline.

Ultragenyx Pharmaceutical

Series A in 2011
Ultragenyx Pharmaceutical develops therapeutics for rare diseases, sometimes referred to as Orphan products. Ultragenyx is a efficient and effective development strategies are essential for success in the rare disease space, in which information may be incomplete or ambiguous, and few development precedents exist. The management team's experience in selecting and developing products with clear mechanisms of action for untreated rare diseases will help Ultragenyx create life-changing therapeutics by leveraging existing yet undeveloped science for these little-known indications.

Milestone Pharmaceuticals

Series A in 2011
Milestone Pharmaceuticals Inc. is a biopharmaceutical company based in Montréal, Canada, focused on developing and commercializing etripamil for various cardiovascular conditions. Etripamil is a novel short-acting calcium channel blocker designed to be administered as a rapid-onset nasal spray, specifically targeting the termination of episodes of paroxysmal supraventricular tachycardia (PSVT). The company is currently conducting Phase III clinical trials for etripamil in the treatment of PSVT and is also exploring its potential applications for atrial fibrillation, angina, and other related cardiovascular disorders. Founded in 2003, Milestone Pharmaceuticals aims to address unmet medical needs in cardiovascular disease management through innovative therapeutic solutions.

CardioDx

Private Equity Round in 2011
CardioDx, Inc. is a molecular diagnostics company based in Redwood City, California, focused on developing genomic tests for cardiovascular diseases. Founded in 2003, the company specializes in assessing conditions such as coronary artery disease (CAD), cardiac arrhythmias, and heart failure. One of its key products is the Corus CAD test, a blood test designed to assist healthcare providers in determining whether a non-diabetic patient's chest discomfort or other symptoms are indicative of obstructive CAD. By leveraging genomic technologies, CardioDx aims to deliver critical information that enhances treatment decisions and improves patient outcomes while also addressing the overall cost of care in the United States.

Chimerix

Series F in 2011
Chimerix, Inc. is a biopharmaceutical company based in Durham, North Carolina, focused on the development of innovative medicines for patients with cancer and serious viral infections. The company is advancing several clinical-stage programs, including dociparstat sodium (DSTAT), a glycosaminoglycan compound aimed at improving outcomes for patients with acute myeloid leukemia during chemotherapy. Another key candidate is brincidofovir (BCV), an antiviral drug being developed as a medical countermeasure for smallpox. Chimerix also leads the development of CMX001, a broad-spectrum antiviral agent targeting life-threatening double-stranded DNA viral infections, currently undergoing multiple clinical studies for use in immunocompromised patients. Additionally, CMX157, an antiviral compound with activity against HIV and hepatitis B, is in development, addressing challenges posed by existing therapies. The company collaborates with various organizations for research and commercialization, deriving revenue from licensing agreements and royalties. Founded in 2000, Chimerix is committed to transforming patient care through its advanced therapeutic candidates.

TYRX

Venture Round in 2010
TyRx specializes in the design, development, and commercialization of resorbable polymeric biomaterials, focusing on drug-device combination products. The company offers PIVIT CRM, a mesh-based pouch designed to protect against microbial colonization of surgical implants such as generators and defibrillators during and immediately after surgery. Additionally, TyRx provides AIGISRx Flat, an antibacterial solution aimed at preventing infections linked to implanted pacemakers and defibrillators. Founded in 1997 and headquartered in Monmouth Junction, New Jersey, TyRx is committed to advancing medical technology through innovative products that enhance patient safety.

Achillion Pharmaceuticals

Post in 2010
Achillion Pharmaceuticals is a clinical-stage biopharmaceutical company based in Blue Bell, Pennsylvania, focused on discovering and developing small molecule drug therapies for immune system disorders. The company's lead candidate, ACH-4471, is a factor D inhibitor currently undergoing Phase II clinical trials for the treatment of paroxysmal nocturnal hemoglobinuria (PNH) and C3 glomerulopathy. Additionally, Achillion is developing two other factor D inhibitors, ACH-5228 and ACH-5548, both in Phase I clinical trials for PNH and other complement-mediated diseases. The company also has licensing agreements with Ora, Inc. for the development of ACH-702, and with GCA Therapeutics, Ltd. for elvucitabine, a treatment for hepatitis B and HIV. Founded in 1998, Achillion aims to advance its portfolio of therapies targeting the complement system, which plays a crucial role in various immune-related conditions.

CeNeRx BioPharma

Series C in 2010
CeNeRx BioPharma, Inc., a drug development company, engages in identifying, developing, and commercializing therapeutics to treat diseases related to neurotransmitters and the nervous system. The company's product pipeline includes Tyrima, CX2614, and CX009, which are reversible inhibitors of monoamine oxidase- A that are used for the treatment of mood, anxiety, and somatic disorders. It focuses on developing therapeutics to treat diseases related to neurotransmitters, including anxiety, bipolar disorder, dementia, depression, epilepsy, neuropathic pain, schizophrenia, and Parkinson's and Alzheimer's diseases. The company was founded in 2005 and is based in Cary, North Carolina.

Liquidia Technologies

Series C in 2010
Liquidia Technologies is a late-stage clinical biopharmaceutical company based in the United States, dedicated to developing and commercializing innovative therapeutics. Utilizing its proprietary PRINT technology, a particle engineering platform, Liquidia produces uniform drug particles aimed at enhancing the safety and efficacy of various therapies. The company is advancing two key product candidates: LIQ861, intended for the treatment of pulmonary arterial hypertension, and LIQ865, designed for managing local post-operative pain. Additionally, Liquidia collaborates with leading pharmaceutical firms to leverage its PRINT technology across multiple therapeutic areas, molecule types, and administration routes, addressing unmet patient needs, particularly in the realm of pulmonary hypertension.

CardioDx

Series D in 2010
CardioDx, Inc. is a molecular diagnostics company based in Redwood City, California, focused on developing genomic tests for cardiovascular diseases. Founded in 2003, the company specializes in assessing conditions such as coronary artery disease (CAD), cardiac arrhythmias, and heart failure. One of its key products is the Corus CAD test, a blood test designed to assist healthcare providers in determining whether a non-diabetic patient's chest discomfort or other symptoms are indicative of obstructive CAD. By leveraging genomic technologies, CardioDx aims to deliver critical information that enhances treatment decisions and improves patient outcomes while also addressing the overall cost of care in the United States.

Syndax Pharmaceuticals

Series A in 2010
Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company based in Waltham, Massachusetts, focused on developing therapies for cancer treatment. The company's lead product, entinostat, is a class I HDAC inhibitor currently in Phase III clinical trials for advanced hormone receptor positive, HER2 negative breast cancer. Additionally, entinostat is being tested in combination with Keytruda and Tecentriq in Phase Ib/II trials for non-small cell lung cancer and metastatic breast cancer. Another significant candidate, SNDX-5613, is a selective inhibitor targeting the Menin-MLL interaction, undergoing Phase I/II trials for acute leukemias. The company is also developing SNDX-6352, a monoclonal antibody for chronic graft versus host disease, currently in Phase I/II trials. Syndax has established collaborations with major pharmaceutical companies and research organizations, enhancing its research and development capabilities. Founded in 2005, Syndax Pharmaceuticals aims to address critical needs in oncology through innovative therapeutic approaches.

Liquidia Technologies

Series C in 2010
Liquidia Technologies is a late-stage clinical biopharmaceutical company based in the United States, dedicated to developing and commercializing innovative therapeutics. Utilizing its proprietary PRINT technology, a particle engineering platform, Liquidia produces uniform drug particles aimed at enhancing the safety and efficacy of various therapies. The company is advancing two key product candidates: LIQ861, intended for the treatment of pulmonary arterial hypertension, and LIQ865, designed for managing local post-operative pain. Additionally, Liquidia collaborates with leading pharmaceutical firms to leverage its PRINT technology across multiple therapeutic areas, molecule types, and administration routes, addressing unmet patient needs, particularly in the realm of pulmonary hypertension.

Afferent Pharmaceuticals

Series A in 2009
Afferent Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in San Mateo, California, founded in 2009. The company focuses on developing small molecule drugs aimed at treating chronic pain and various neurogenic disorders by targeting P2X3 receptors in nerve fibers. Its lead compound, AF-219, has completed two Phase 1 clinical studies and is designed to address conditions such as osteoarthritis, back pain, visceral pain, and neuropathy, as well as respiratory and urological issues.

Barosense

Series D in 2009
BaroSense is focused on developing and commercializing innovative medical devices aimed at addressing obesity, a significant healthcare challenge in the United States. The company aims to provide safe, simple, and effective alternatives to surgical treatments for obesity, catering to individuals who require assistance beyond traditional dieting methods and wish to avoid extensive and irreversible surgical options. BaroSense's product offerings include minimally invasive therapeutic procedures and devices, such as a trans-oral endoscopic restrictive implant system, designed to facilitate weight loss in a less invasive manner.

Biosyntech

Venture Round in 2009
Biosyntech Inc. is a Canadian company focused on developing biotherapeutic thermogels for tissue repair and the delivery of therapeutic agents. Its technology platform, known as BST-Gel, utilizes hydrogels made from chitosan, a natural biopolymer sourced from crustacean shells. The company's leading products currently in clinical trials include BST-CarGel for cartilage repair, BST-DermOn for wound healing, and BST-InPod, which aims to treat chronic pain associated with plantar fat pad atrophy in the heel and forefoot. Additionally, Biosyntech is involved in clinical studies for BST-InPod in collaboration with Nicholas Piramal India, Ltd. The company, incorporated in 1994, is headquartered in Laval, Canada.

Anthera Pharmaceuticals

Venture Round in 2008
Anthera Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to developing and commercializing therapeutics for serious diseases related to inflammation, such as cardiovascular and autoimmune disorders. The company is advancing several product candidates, including Sollpura, a non-porcine pancreatic enzyme replacement therapy currently in Phase III trials for exocrine pancreatic insufficiency, and Blisibimod, which is in Phase II trials targeting B-cell mediated autoimmune diseases, including IgA nephropathy. Additionally, Anthera has other candidates like varespladib methyl and varespladib sodium, which are in various stages of clinical trials for acute coronary syndrome and sickle cell disease, respectively. Established in 2004, Anthera Pharmaceuticals is headquartered in Hayward, California, and has formed licensing agreements with prominent companies such as Amgen and Eli Lilly to facilitate the development of its therapies.

CoLucid Pharmaceuticals

Series B in 2008
CoLucid Pharmaceuticals, Inc. is a biotechnology company based in Research Triangle Park, North Carolina, established in 2005. The company specializes in developing therapies for central nervous system disorders. Its primary product, COL-144, is an anti-migraine agent aimed at treating migraine headaches. Additionally, CoLucid is working on COL-204, a conjugated stigmine platform designed to create novel therapeutic entities for various conditions, including sleep/wake disorders, chronic pain, Alzheimer's disease, and psychiatric disorders. Through its innovative approaches, CoLucid Pharmaceuticals aims to address significant unmet medical needs in the field of neurology.

BrainCells

Series B in 2008
BrainCells develops and provides biopharmaceutical products for the treatment of central nervous system (CNS) diseases. It develops compounds that promote the growth of new neurons for the treatment of major depressive disorder (MDD), treatment resistant depression (TRD), and potentially Alzheimer’s disease (AD). The company's products include BCI-838 and BCI-632 which increase synaptic glutamate by inhibiting the mGlu2/3 auto-receptor. The company also builds a pipeline of clinical-stage programs to address unmet medical needs in the treatment of mood disorders, psychoses, cognition, brain repair syndromes, and other CNS disorders. The company was founded in 2003 and is based in San Diego, California.

LEAD Therapeutics

Series A in 2007
LEAD Therapeutics, Inc. is a chemistry-driven drug discovery company focused on delivering novel and differentiated small molecule IND candidates against clinically validated therapeutic targets, focused primarily on the treatment of Cancer and infectious diseases.

Optherion

Series A in 2007
Optherion, Inc. is a biotechnology company based in New Haven, Connecticut, specializing in the development of diagnostic and disease-modifying therapeutics. Founded in 2005, Optherion focuses on early-stage age-related macular degeneration, dense deposit disease, atypical hemolytic uremic syndrome, and other chronic conditions associated with the alternative complement cascade. The company's innovative products aim to improve the management and treatment of these diseases, particularly addressing both dry and wet forms of age-related macular degeneration.

FlowCardia

Series C in 2007
FlowCardia, Inc. is a medical device company established in 2002, specializing in the design and development of catheter-based technologies aimed at overcoming chronic total occlusions (CTOs) in coronary and peripheral arteries. CTOs present significant challenges in interventional therapy, often resulting in patients being referred for more invasive procedures such as bypass surgery or limb amputation due to the lack of effective recanalization devices. FlowCardia's innovative solutions seek to address this critical gap in treatment options, enhancing the safety and efficacy of procedures for patients with these difficult-to-treat conditions.

TargeGen

Series D in 2007
TargeGen, Inc. is a biopharmaceutical company based in San Diego, California, that specializes in the discovery and development of small molecule kinase inhibitors targeting vascular leakage, angiogenesis, and inflammation. Founded in 2002, TargeGen focuses on creating treatments for various serious medical conditions, including heart attacks, cancer, and eye diseases. The company's products address issues such as vascular leakage, edema, the abnormal growth of new blood vessels, and conditions like pleural effusions, arthritis, pulmonary edema, transplant ischemia, acute respiratory distress syndrome, brain inflammation, and hypovolemia. TargeGen also serves specific markets related to macular degeneration, diabetic macular edema, and diabetic retinopathy. The company was acquired in 2010, which has further enhanced its capabilities in addressing critical health challenges.

Gentis

Series A in 2007
Gentis is a company focused on developing minimally invasive biomaterials-based products aimed at treating early-stage degeneration of the spine. Founded in 2000 and headquartered in Wayne, Pennsylvania, the company's flagship product, DiscCell, is an injectable, in-situ setting, radio-opaque, non-hydrogel polymer material designed to augment or replace the diseased nucleus pulposus of the spinal disc. This innovative solution helps patients prevent the recurrence of back or leg pain at the treatment site, addressing a significant need in spinal healthcare.

Cequent Pharmaceuticals

Series A in 2007
Cequent Pharmaceuticals is an early-stage biopharmaceutical company based in Cambridge, Massachusetts, focused on developing innovative RNA interference (RNAi)-based therapeutics to prevent and treat various human diseases, including inflammatory conditions and cancer. The company utilizes its proprietary TransKingdom RNA interference (tkRNAi) technology, designed to safely and effectively deactivate specific genes associated with diseases using non-pathogenic bacteria to deliver RNAi directly into cells. Currently, Cequent's lead drug candidates, which target colon cancer prevention and inflammatory bowel disease, are in pre-clinical development. Established in 2006, Cequent originated from pioneering research at the Institut Pasteur in Paris and the Beth Israel Deaconess Medical Center/Harvard Medical School. In 2010, the company was acquired by Marina Biotech, Inc.

Athersys

Venture Round in 2007
Athersys, Inc. is a biotechnology company based in Cleveland, Ohio, specializing in regenerative medicine. The company focuses on the research and development of therapeutic products aimed at treating various disease indications, including neurological conditions, cardiovascular diseases, inflammatory and immune disorders, and pulmonary issues. Athersys's primary product, MultiStem cell therapy, is an allogeneic stem cell treatment currently undergoing Phase III clinical trials for ischemic stroke and Phase II trials for acute myocardial infarction. Additionally, it has completed Phase I studies for treating leukemia and other blood-borne cancers. Athersys also explores applications of MultiStem in veterinary medicine for serious health conditions. The company maintains collaborative agreements with Healios K.K. and the University of Minnesota to expand the development and commercialization of its therapies. Revenue is generated through corporate partnerships, licensing agreements, and government grants.

Syndax Pharmaceuticals

Series A in 2007
Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company based in Waltham, Massachusetts, focused on developing therapies for cancer treatment. The company's lead product, entinostat, is a class I HDAC inhibitor currently in Phase III clinical trials for advanced hormone receptor positive, HER2 negative breast cancer. Additionally, entinostat is being tested in combination with Keytruda and Tecentriq in Phase Ib/II trials for non-small cell lung cancer and metastatic breast cancer. Another significant candidate, SNDX-5613, is a selective inhibitor targeting the Menin-MLL interaction, undergoing Phase I/II trials for acute leukemias. The company is also developing SNDX-6352, a monoclonal antibody for chronic graft versus host disease, currently in Phase I/II trials. Syndax has established collaborations with major pharmaceutical companies and research organizations, enhancing its research and development capabilities. Founded in 2005, Syndax Pharmaceuticals aims to address critical needs in oncology through innovative therapeutic approaches.

Anthera Pharmaceuticals

Venture Round in 2006
Anthera Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to developing and commercializing therapeutics for serious diseases related to inflammation, such as cardiovascular and autoimmune disorders. The company is advancing several product candidates, including Sollpura, a non-porcine pancreatic enzyme replacement therapy currently in Phase III trials for exocrine pancreatic insufficiency, and Blisibimod, which is in Phase II trials targeting B-cell mediated autoimmune diseases, including IgA nephropathy. Additionally, Anthera has other candidates like varespladib methyl and varespladib sodium, which are in various stages of clinical trials for acute coronary syndrome and sickle cell disease, respectively. Established in 2004, Anthera Pharmaceuticals is headquartered in Hayward, California, and has formed licensing agreements with prominent companies such as Amgen and Eli Lilly to facilitate the development of its therapies.

LipoScience

Series F in 2006
LipoScience, based in Raleigh, North Carolina, specializes in developing in vitro diagnostic tests utilizing nuclear magnetic resonance (NMR) technology. The company's flagship product, the NMR LipoProfile test, quantifies low density lipoprotein particles (LDL-P) in blood samples, offering crucial insights for physicians and patients to tailor heart disease risk management. With more than 8 million tests ordered, LipoScience is at the forefront of personalized diagnostics, providing actionable data that enhances patient care and treatment strategies.

Bayhill Therapeutics

Venture Round in 2006
Bayhill Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapeutics for autoimmune diseases. The company uses its therapeutic BHT-DNA platform to develop a pipeline of treatment candidates for autoimmune diseases. Its products in clinical pipeline include BHT-3021, which is in Phase I/II clinical trial for reducing or eliminating the immune system’s attack on the pancreas; BHT-3009, which completed its Phase II trial for the treatment of multiple sclerosis; and BHT-3034, which is in preclinical studies for the treatment of myasthenia gravis. The company was formerly known as Tolerion, Inc. and changed its name to Bayhill Therapeutics, Inc. in November 2002. Bayhill Therapeutics, Inc. was founded in 2000 and is headquartered in Palo Alto, California.

CoLucid Pharmaceuticals

Series A in 2006
CoLucid Pharmaceuticals, Inc. is a biotechnology company based in Research Triangle Park, North Carolina, established in 2005. The company specializes in developing therapies for central nervous system disorders. Its primary product, COL-144, is an anti-migraine agent aimed at treating migraine headaches. Additionally, CoLucid is working on COL-204, a conjugated stigmine platform designed to create novel therapeutic entities for various conditions, including sleep/wake disorders, chronic pain, Alzheimer's disease, and psychiatric disorders. Through its innovative approaches, CoLucid Pharmaceuticals aims to address significant unmet medical needs in the field of neurology.

Spherics

Series C in 2005
Spherics develops proprietary bioadhesive encapsulation technologies to improve the oral absorption of small molecule drugs.

Bayhill Therapeutics

Series B in 2005
Bayhill Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapeutics for autoimmune diseases. The company uses its therapeutic BHT-DNA platform to develop a pipeline of treatment candidates for autoimmune diseases. Its products in clinical pipeline include BHT-3021, which is in Phase I/II clinical trial for reducing or eliminating the immune system’s attack on the pancreas; BHT-3009, which completed its Phase II trial for the treatment of multiple sclerosis; and BHT-3034, which is in preclinical studies for the treatment of myasthenia gravis. The company was formerly known as Tolerion, Inc. and changed its name to Bayhill Therapeutics, Inc. in November 2002. Bayhill Therapeutics, Inc. was founded in 2000 and is headquartered in Palo Alto, California.

NuVasive

Venture Round in 2004
NuVasive, Inc. is a medical device company that specializes in developing and marketing minimally disruptive surgical products and integrated solutions for spine surgery. Founded in 1997 and headquartered in San Diego, California, the company focuses on enhancing surgical outcomes through its portfolio, which includes surgical access instruments, spinal implants, fixation systems, and biologics. Key products feature the Maximum Access Surgery platform, which incorporates advanced nerve detection and intraoperative monitoring services. NuVasive also offers a range of specialized implants, including cellular bone matrices and synthetic bone substitutes, aimed at facilitating restorative and fusion procedures for both thoracolumbar and cervical spine applications. Additionally, the company provides innovative systems, such as the Integrated Global Alignment platform and magnetically adjustable implant systems, and serves a diverse clientele including patients, surgeons, hospitals, and insurers through various sales channels.

LiveWire Logic

Venture Round in 2001
LiveWire Logic provides AI technologies that can conduct human-like conversations to help customers make purchase decisions. It was founded in 2000 and is based in Morrisville, North Carolina.

VFlow Tech

Vflow Tech is a Singapore-based company that specializes in the manufacturing of modular vanadium redox flow batteries. These batteries are designed for large-scale energy storage applications, catering primarily to the utility and renewable energy sectors. Vflow Tech's innovative approach incorporates industry-focused research and user feedback to create safe, long-lasting, and cost-effective energy storage solutions. The modular design of their batteries allows for scalability, making them suitable for a range of applications from households and micro-grids to grid-level storage. The company emphasizes the reliability and environmental friendliness of its products, offering clients a sustainable energy storage option that maintains consistent performance without degradation over time.
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