SightLine Partners

SightLine Partners LLC is a private equity and venture capital firm established in 2004, headquartered in Bloomington, Minnesota, with an additional office in Palo Alto, California. The firm specializes in investing in later-stage healthcare companies across the United States, focusing on medical technology, biotechnology, medical devices, diagnostics, and healthcare services. It targets investments in innovative medical devices and technologies, particularly in therapeutic areas such as vascular diseases, diabetes, and pulmonary conditions. SightLine Partners looks for opportunities in companies that can enhance the diagnosis, treatment, and prevention of major diseases, including those related to the nervous and immune systems, cardiovascular health, and oncology. The firm typically invests between $2 million and $8 million in its portfolio companies, structuring investments as preferred stock, with an exit strategy within five years.

Josh Baltzell

Venture Partner

Joshua J. Baltzell

Venture Partner

Buzz Benson

Co-Founder and Managing Director

Andrea Crooks

Vice President of Finance

Kunal Paymaster

Managing Director

Archie Smith

Managing Director

Nicholas Speltz

Associate

22 past transactions

Magnolia Medical Technologies

Venture Round in 2022
Magnolia Medical Technologies, Inc. is a Seattle-based company that specializes in the development and manufacturing of medical devices aimed at enhancing the accuracy of diagnostic blood culture tests. Its flagship product, SteriPath, is a vacuum-assisted blood collection system designed to divert contaminants from the initial blood sample, thereby reducing the incidence of blood culture sample contamination. The company markets its products through distributors across the United States and has built a robust intellectual property portfolio, consisting of over 70 issued patents and more than 50 pending applications. Founded in 2011, Magnolia Medical Technologies is committed to improving diagnostic specimen quality and increasing the accuracy of critical laboratory tests.
Magnolia Medical Technologies, Inc. is a Seattle-based company that specializes in the development and manufacturing of medical devices aimed at enhancing the accuracy of diagnostic blood culture tests. Its flagship product, SteriPath, is a vacuum-assisted blood collection system designed to divert contaminants from the initial blood sample, thereby reducing the incidence of blood culture sample contamination. The company markets its products through distributors across the United States and has built a robust intellectual property portfolio, consisting of over 70 issued patents and more than 50 pending applications. Founded in 2011, Magnolia Medical Technologies is committed to improving diagnostic specimen quality and increasing the accuracy of critical laboratory tests.

Vapotherm

Series D in 2018
Vapotherm, Inc. is a medical technology company based in Exeter, New Hampshire, specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat respiratory distress in patients of all ages. The company offers a range of Precision Flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through small-bore nasal interfaces. Additionally, Vapotherm provides various companion products such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air supply, and specialized adaptors and cannulas to enhance treatment delivery. The company also produces disposable patient circuits for aerosol nebulization and Oxygen Assist Modules to help maintain target oxygen levels. Vapotherm primarily sells its products to hospitals in the United States and through distributors in select international markets. Founded in 1993, Vapotherm aims to improve clinical outcomes and enhance the quality of life for patients.

EndoGastric Solutions

Series I in 2018
EndoGastric Solutions, Inc. is a medical device company focused on developing and commercializing innovative surgical technologies for the treatment of gastrointestinal diseases, particularly gastroesophageal reflux disease (GERD). The company is known for its Transoral Incisionless Fundoplication (TIF®) procedure, which provides a minimally invasive alternative to traditional surgical methods by allowing treatment without external incisions. Key products include the EsophyX technology, which facilitates transoral reconstructive surgery, and the SerosaFuse Fasteners, designed for secure tissue attachment. Additionally, EndoGastric Solutions offers training courses for surgeons and a range of consultative support services. Founded in 2002 and headquartered in Redmond, Washington, the company also has an office in San Mateo, California.

EarLens

Series C in 2017
Earlens is a privately held medical technology company committed to transforming the hearing experience for millions of people who suffer from hearing loss.The company has developed the Earlens Contact Hearing Solution, which directly activates natural hearing, delivering the broadest bandwidth available today and superior sound quality. This revolutionary, non-surgical hearing solution uses a small lens to vibrate the eardrum, replicating the natural hearing process. The Earlens Contact Hearing Solution received FDA clearance in 2019 for a second generation of the Earlens technology. Unlike traditional hearing aids, which are in effect tiny speakers that simply turn up the volume on air conducted sound, the Earlens Contact Hearing Solution™ is the world’s first to deliver sound directly to the eardrum.

Monteris Medical

Series C in 2017
Monteris Medical develops and markets advanced medical devices for minimally invasive neurosurgery, focusing on the treatment of brain diseases. Their flagship product, the NeuroBlate System, utilizes MRI-guided laser thermotherapy for the precise ablation of pathological brain lesions, including both primary and metastatic tumors. This innovative system allows neurosurgeons to deliver focused laser energy directly to tumors while minimizing damage to surrounding healthy tissue, offering real-time control and visualization during procedures. Monteris Medical also provides stereotactic anchoring devices for accurate image-guided trajectory alignment and AtamA stabilization systems for MR-based procedures requiring head fixation. Founded in 1999 and headquartered in Plymouth, Minnesota, with additional offices in Minneapolis and Winnipeg, the company distributes its products through sales representatives to neurosurgeons across the United States. Formerly known as AutoLITT, Monteris Medical has established itself as a leader in the development of technologies aimed at improving the treatment of brain cancer.

Vapotherm

Series D in 2017
Vapotherm, Inc. is a medical technology company based in Exeter, New Hampshire, specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat respiratory distress in patients of all ages. The company offers a range of Precision Flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through small-bore nasal interfaces. Additionally, Vapotherm provides various companion products such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air supply, and specialized adaptors and cannulas to enhance treatment delivery. The company also produces disposable patient circuits for aerosol nebulization and Oxygen Assist Modules to help maintain target oxygen levels. Vapotherm primarily sells its products to hospitals in the United States and through distributors in select international markets. Founded in 1993, Vapotherm aims to improve clinical outcomes and enhance the quality of life for patients.

Vapotherm

Series C in 2015
Vapotherm, Inc. is a medical technology company based in Exeter, New Hampshire, specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat respiratory distress in patients of all ages. The company offers a range of Precision Flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through small-bore nasal interfaces. Additionally, Vapotherm provides various companion products such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air supply, and specialized adaptors and cannulas to enhance treatment delivery. The company also produces disposable patient circuits for aerosol nebulization and Oxygen Assist Modules to help maintain target oxygen levels. Vapotherm primarily sells its products to hospitals in the United States and through distributors in select international markets. Founded in 1993, Vapotherm aims to improve clinical outcomes and enhance the quality of life for patients.

Conventus Orthopaedics

Series A in 2014
Conventus Orthopaedics provides a range of orthopedic and sports medicine services. The physicians specialize in orthopedic surgery, reconstructive surgery, spine surgery, joint replacement, sports medicine, physical therapy, and operative care of fractures, arthritis, strains, sprains, and sports-related injuries. Conventus was formed by a team of medical professionals with the sole purpose of creating less invasive ways to treat challenging periarticular fractures. By leveraging advanced nitinol technology, the Conventus team has developed a platform technology that provides robust fixation and creates reliable repairs. The company was incorporated in 2009 and is based in Maple Grove, Minnesota.

Conventus Orthopaedics

Venture Round in 2013
Conventus Orthopaedics provides a range of orthopedic and sports medicine services. The physicians specialize in orthopedic surgery, reconstructive surgery, spine surgery, joint replacement, sports medicine, physical therapy, and operative care of fractures, arthritis, strains, sprains, and sports-related injuries. Conventus was formed by a team of medical professionals with the sole purpose of creating less invasive ways to treat challenging periarticular fractures. By leveraging advanced nitinol technology, the Conventus team has developed a platform technology that provides robust fixation and creates reliable repairs. The company was incorporated in 2009 and is based in Maple Grove, Minnesota.

CVRx

Series F in 2013
CVRx, Inc. is a medical device company based in Minneapolis, Minnesota, that specializes in implantable technology for treating high blood pressure and heart failure. The company develops Barostim, a proprietary neuromodulation therapy that activates the body's natural reflexes to regulate blood pressure and address the progression of heart failure. This therapy is delivered through a long-lasting implant system that is tailored to meet individual patient needs. CVRx also manufactures the Rheos implantable pulse generator and associated components, which facilitate the delivery of activation energy to the carotid arteries. Founded in 2000, CVRx primarily serves patients and healthcare professionals in the United States and several European countries, focusing on minimally invasive solutions for cardiovascular diseases.

Celleration

Series E in 2011
Celleration Inc. develops and commercializes therapeutic ultrasound healing technologies in the United States. It offers MIST Therapy, a noncontact and low frequency ultrasound solution delivered through a saline mist to the wound bed. The company serves patients, medical professionals, and payers. Celleration Inc. was formerly known as Advanced Medical Applications, Inc. The company was founded in 1999 and is based in Eden Prairie, Minnesota. As of May 29, 2015, Celleration, Inc. operates as a subsidiary of Alliqua BioMedical, Inc.

Anulex Technologies

Series D in 2009
Anulex Technologies focus on developing proprietary medical technology to repair and seal the soft tissue of the spine (anulus) for patients undergoing a surgical procedure to remove a herniated disc (discectomy).

Broncus Medical

Series G in 2008
Broncus Medical develops innovative diagnostic and therapeutic navigation technologies aimed at treating lung diseases. The company offers a range of products, including the Archimedes System, which features bronchoscopic trans-parenchymal needle access for virtual bronchoscopic planning and navigation, and the Lungpoint Virtual Bronchoscopic Navigation system that enables real-time navigation within the lungs for biopsy procedures. Additionally, Broncus is advancing its Exhale product line, which includes the Airway Bypass procedure, a minimally-invasive treatment for homogeneous emphysema, a prevalent form of the disease. The company is currently conducting the pivotal EASE Trial to evaluate this treatment. Founded in 1997 and originally named Broncus Technologies, the company is headquartered in San Jose, California, with additional operations in Shanghai, China, and Mountain View, California. Broncus Medical focuses on addressing the unmet medical needs in interventional pulmonology, improving the diagnosis and treatment of lung cancer and chronic obstructive pulmonary disease (COPD).

PHT

Series F in 2008
PHT Corporation is a leading provider of electronic patient-reported outcome (ePRO) solutions utilized in clinical trials globally. The company offers the LogPad and StudyPad Systems, which enhance data quality and facilitate efficient data collection. Additionally, PHT's StudyWorks online portal grants study sponsors, monitors, and sites real-time access to trial data, enabling informed decision-making. By leveraging these technologies, biopharmaceutical and medical device companies can obtain more comprehensive data and accelerate their trial processes, ultimately contributing to the success of clinical studies.

CVRx

Series E in 2008
CVRx, Inc. is a medical device company based in Minneapolis, Minnesota, that specializes in implantable technology for treating high blood pressure and heart failure. The company develops Barostim, a proprietary neuromodulation therapy that activates the body's natural reflexes to regulate blood pressure and address the progression of heart failure. This therapy is delivered through a long-lasting implant system that is tailored to meet individual patient needs. CVRx also manufactures the Rheos implantable pulse generator and associated components, which facilitate the delivery of activation energy to the carotid arteries. Founded in 2000, CVRx primarily serves patients and healthcare professionals in the United States and several European countries, focusing on minimally invasive solutions for cardiovascular diseases.

Atritech

Series D in 2007
Atritech, based in Minneapolis, Minnesota, is a private company founded in 2000 that specializes in developing innovative technologies aimed at preventing strokes related to atrial fibrillation. The company's flagship product, the WATCHMAN Device, is a minimally invasive system designed to close the left atrial appendage, where harmful blood clots can form. This device serves as a permanent alternative to long-term anticoagulation therapy, offering patients a means to reduce their stroke risk associated with non-valvular atrial fibrillation. The WATCHMAN Device has been clinically tested in a large randomized trial comparing its effectiveness to traditional Warfarin therapy. Initially implanted in Germany in 2002 and in the United States in 2003, the device has received CE Mark approval and is available in several international markets, though it is currently designated for investigational use only in the United States.

CVRx

Series D in 2007
CVRx, Inc. is a medical device company based in Minneapolis, Minnesota, that specializes in implantable technology for treating high blood pressure and heart failure. The company develops Barostim, a proprietary neuromodulation therapy that activates the body's natural reflexes to regulate blood pressure and address the progression of heart failure. This therapy is delivered through a long-lasting implant system that is tailored to meet individual patient needs. CVRx also manufactures the Rheos implantable pulse generator and associated components, which facilitate the delivery of activation energy to the carotid arteries. Founded in 2000, CVRx primarily serves patients and healthcare professionals in the United States and several European countries, focusing on minimally invasive solutions for cardiovascular diseases.

Broncus Medical

Series F in 2006
Broncus Medical develops innovative diagnostic and therapeutic navigation technologies aimed at treating lung diseases. The company offers a range of products, including the Archimedes System, which features bronchoscopic trans-parenchymal needle access for virtual bronchoscopic planning and navigation, and the Lungpoint Virtual Bronchoscopic Navigation system that enables real-time navigation within the lungs for biopsy procedures. Additionally, Broncus is advancing its Exhale product line, which includes the Airway Bypass procedure, a minimally-invasive treatment for homogeneous emphysema, a prevalent form of the disease. The company is currently conducting the pivotal EASE Trial to evaluate this treatment. Founded in 1997 and originally named Broncus Technologies, the company is headquartered in San Jose, California, with additional operations in Shanghai, China, and Mountain View, California. Broncus Medical focuses on addressing the unmet medical needs in interventional pulmonology, improving the diagnosis and treatment of lung cancer and chronic obstructive pulmonary disease (COPD).

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.

Anulex Technologies

Series C in 2006
Anulex Technologies focus on developing proprietary medical technology to repair and seal the soft tissue of the spine (anulus) for patients undergoing a surgical procedure to remove a herniated disc (discectomy).

Verax Biomedical

Series B in 2005
Verax Biomedical, Incorporated is a medical products company focused on developing rapid tests for detecting bacterial contamination in blood cells and tissues intended for transplantation and cellular therapies. Founded in 1999 and based in Marlborough, Massachusetts, the company addresses a critical need in the field of transfusion medicine, as traditional testing primarily targets viral contaminants, leaving bacterial risks largely unaddressed. Bacteria can proliferate in stored cellular materials, potentially growing from negligible levels at the time of collection to dangerous levels by the time of transfusion or transplantation. Verax Biomedical’s offerings include platelet and red cell Pan Genera Detection tests, designed to identify shared antigens found on various gram-positive and gram-negative bacteria. These tests enable blood banks to effectively detect and mitigate the risks associated with bacterial contamination, thereby enhancing the safety of blood transfusions and cellular therapies.
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