Spray Venture Partners

Spray Venture Partners, founded in 1996 and based in Massachusetts, is a private equity firm specializing in early-stage investments in healthcare and life-science companies in the United States. They focus on providing capital and expertise to emerging healthcare technology companies, collaborating closely with clinical and technical founders to develop, market, and deploy innovative technologies that address significant unmet healthcare needs.

Daniel Cole

General Partner

Kevin Connors

General Partner

Lisa Dunlea

Team Member

30 past transactions

Tryton Medical

Series D in 2010
Tryton Medical, Inc. develops stent systems for the treatment of cardiovascular diseases in the United States, Austria, Belgium, Denmark, Ireland, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, and the United Kingdom. It offers the Tryton Side Branch Stent System, which offers a strategy for treating atherosclerotic lesions in the side branch at the site of a bifurcation. The company was founded in 2003 and is based in Durham, North Carolina.

Cotherix

Series C in 2003
Cotherix is a biopharmaceutical company focused on licensing, developing and commercializing therapeutic products for the treatment of cardiopulmonary and other chronic diseases. Ventavis, our lead product candidate, is an inhaled formulation of iloprost.

Direct Flow Medical

Venture Round in 2012
Direct Flow Medical is a medical device company developing a percutaneous aortic tissue valve prosthesis to provide patients requiring treatment of cardiac valve insufficiency with a safe and effective percutaneous option. Approximately 1.2 million people over the age of 65 have calcified aortic valves, yet only an estimated 150,000 are surgically treated each year.

Interlace Medical

Series C in 2009
Interlace Medical, Inc. is focused on designing and developing devices for the Interventional Gynecologist to perform office-based procedures to treat diseases and conditions traditionally requiring surgery in the operating room.

Direct Flow Medical

Series A in 2005
Direct Flow Medical is a medical device company developing a percutaneous aortic tissue valve prosthesis to provide patients requiring treatment of cardiac valve insufficiency with a safe and effective percutaneous option. Approximately 1.2 million people over the age of 65 have calcified aortic valves, yet only an estimated 150,000 are surgically treated each year.

Facet Solutions

Debt Financing in 2009
Facet Solutions develops surgical devices for the treatment of degenerative spinal disorders. Facet Solutions was founded on 2003 and is based in Hopkinton, Massachusetts.

Leptos Biomedical

Series C in 2007
Leptos Biomedical offers a proprietary neuromodulation therapy solution for chronic obesity. The company delivers its treatment, which involves the electrical activation of a nerve in the autonomic nervous system via a pacemaker-type device. Leptos Biomedical was founded in 2002 and is based in Fridley, Minnesota.

Interlace Medical

Series A in 2006
Interlace Medical, Inc. is focused on designing and developing devices for the Interventional Gynecologist to perform office-based procedures to treat diseases and conditions traditionally requiring surgery in the operating room.

Interlace Medical

Series B in 2007
Interlace Medical, Inc. is focused on designing and developing devices for the Interventional Gynecologist to perform office-based procedures to treat diseases and conditions traditionally requiring surgery in the operating room.

Tryton Medical

Series C in 2008
Tryton Medical, Inc. develops stent systems for the treatment of cardiovascular diseases in the United States, Austria, Belgium, Denmark, Ireland, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, and the United Kingdom. It offers the Tryton Side Branch Stent System, which offers a strategy for treating atherosclerotic lesions in the side branch at the site of a bifurcation. The company was founded in 2003 and is based in Durham, North Carolina.

TearScience

Series B in 2007
TearScience, Inc. is a medical device company that engages in identifying, diagnosing, and treating meibomian gland disease (MGD), which is the cause of dry eye. The company focuses on the early detection and treatment of prevalent, chronic, and progressive MGD. It develops LipiFlow Activator, a single-use sterile device that delivers automated therapeutic energies to each meibomian gland while protecting the delicate structures of the patient’s eye; and LipiScan, a gland imager that allows eye care professionals to evaluate meibomian glands in practices. The company was formerly known as Kolis Scientific, Inc. and changed its name to TearScience, Inc. in July 2005. TearScience, Inc. was founded in 2005 and is based in Morrisville, North Carolina. As of September 6, 2017, TearScience, Inc. operates as a subsidiary of Johnson & Johnson Surgical Vision, Inc.

Interlace Medical

Series B in 2008
Interlace Medical, Inc. is focused on designing and developing devices for the Interventional Gynecologist to perform office-based procedures to treat diseases and conditions traditionally requiring surgery in the operating room.

PneumRx

Series B in 2007
PneumRx, Inc., a start-up medical device company, develops minimally invasive treatments for emphysema patients. The company develops RePneu Lung Volume Reduction Coil, an investigational device for treating emphysema patients. PneumRx, Inc. was founded in 2004 and is based in Mountain View, California.

Barricaid

Series A in 2000
Intrinsic Therapeutics is a medical device company that develops therapies for treating disc herniations in the spine for discectomy patients. It offers Barricaid anular prosthesis that allows the direct reconstruction of weakened and ruptured annulus and soft tissues of the spine. The company also offers spinal implants to treat the causes of sciatica and low back pain. It serves surgeons and patients. The company was formerly known as Intrinsic Orthopedics and changed its name to Intrinsic Therapeutics in January 2003. Intrinsic Therapeutics was founded in 2000 and is based in Woburn, Massachusetts.

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.

Direct Flow Medical

Series B in 2007
Direct Flow Medical is a medical device company developing a percutaneous aortic tissue valve prosthesis to provide patients requiring treatment of cardiac valve insufficiency with a safe and effective percutaneous option. Approximately 1.2 million people over the age of 65 have calcified aortic valves, yet only an estimated 150,000 are surgically treated each year.

PneumRx

Venture Round in 2011
PneumRx, Inc., a start-up medical device company, develops minimally invasive treatments for emphysema patients. The company develops RePneu Lung Volume Reduction Coil, an investigational device for treating emphysema patients. PneumRx, Inc. was founded in 2004 and is based in Mountain View, California.

Solace Therapeutics

Series B in 2006
Solace Therapeutics, Inc. develops non-surgical office based treatments for unexpected bladder leaks in women. The company provides Vesair Bladder Control System, a non-surgical device that floats within the urinary bladder to eliminate and reduce involuntary urinary leakage. Its Vesair Bladder Control System is a non-surgical alternative to involuntary urinary leakage and a lightweight device to address the cause of stress urinary incontinence. The company was incorporated in 2002 and is based in Framingham, Massachusetts.

Barricaid

Series C in 2002
Intrinsic Therapeutics is a medical device company that develops therapies for treating disc herniations in the spine for discectomy patients. It offers Barricaid anular prosthesis that allows the direct reconstruction of weakened and ruptured annulus and soft tissues of the spine. The company also offers spinal implants to treat the causes of sciatica and low back pain. It serves surgeons and patients. The company was formerly known as Intrinsic Orthopedics and changed its name to Intrinsic Therapeutics in January 2003. Intrinsic Therapeutics was founded in 2000 and is based in Woburn, Massachusetts.

Direct Flow Medical

Series C in 2009
Direct Flow Medical is a medical device company developing a percutaneous aortic tissue valve prosthesis to provide patients requiring treatment of cardiac valve insufficiency with a safe and effective percutaneous option. Approximately 1.2 million people over the age of 65 have calcified aortic valves, yet only an estimated 150,000 are surgically treated each year.

Barricaid

Series B in 2001
Intrinsic Therapeutics is a medical device company that develops therapies for treating disc herniations in the spine for discectomy patients. It offers Barricaid anular prosthesis that allows the direct reconstruction of weakened and ruptured annulus and soft tissues of the spine. The company also offers spinal implants to treat the causes of sciatica and low back pain. It serves surgeons and patients. The company was formerly known as Intrinsic Orthopedics and changed its name to Intrinsic Therapeutics in January 2003. Intrinsic Therapeutics was founded in 2000 and is based in Woburn, Massachusetts.

Barricaid

Series D in 2007
Intrinsic Therapeutics is a medical device company that develops therapies for treating disc herniations in the spine for discectomy patients. It offers Barricaid anular prosthesis that allows the direct reconstruction of weakened and ruptured annulus and soft tissues of the spine. The company also offers spinal implants to treat the causes of sciatica and low back pain. It serves surgeons and patients. The company was formerly known as Intrinsic Orthopedics and changed its name to Intrinsic Therapeutics in January 2003. Intrinsic Therapeutics was founded in 2000 and is based in Woburn, Massachusetts.

TearScience

Series C in 2010
TearScience, Inc. is a medical device company that engages in identifying, diagnosing, and treating meibomian gland disease (MGD), which is the cause of dry eye. The company focuses on the early detection and treatment of prevalent, chronic, and progressive MGD. It develops LipiFlow Activator, a single-use sterile device that delivers automated therapeutic energies to each meibomian gland while protecting the delicate structures of the patient’s eye; and LipiScan, a gland imager that allows eye care professionals to evaluate meibomian glands in practices. The company was formerly known as Kolis Scientific, Inc. and changed its name to TearScience, Inc. in July 2005. TearScience, Inc. was founded in 2005 and is based in Morrisville, North Carolina. As of September 6, 2017, TearScience, Inc. operates as a subsidiary of Johnson & Johnson Surgical Vision, Inc.

TearScience

Series A in 2005
TearScience, Inc. is a medical device company that engages in identifying, diagnosing, and treating meibomian gland disease (MGD), which is the cause of dry eye. The company focuses on the early detection and treatment of prevalent, chronic, and progressive MGD. It develops LipiFlow Activator, a single-use sterile device that delivers automated therapeutic energies to each meibomian gland while protecting the delicate structures of the patient’s eye; and LipiScan, a gland imager that allows eye care professionals to evaluate meibomian glands in practices. The company was formerly known as Kolis Scientific, Inc. and changed its name to TearScience, Inc. in July 2005. TearScience, Inc. was founded in 2005 and is based in Morrisville, North Carolina. As of September 6, 2017, TearScience, Inc. operates as a subsidiary of Johnson & Johnson Surgical Vision, Inc.

Barricaid

Venture Round in 2010
Intrinsic Therapeutics is a medical device company that develops therapies for treating disc herniations in the spine for discectomy patients. It offers Barricaid anular prosthesis that allows the direct reconstruction of weakened and ruptured annulus and soft tissues of the spine. The company also offers spinal implants to treat the causes of sciatica and low back pain. It serves surgeons and patients. The company was formerly known as Intrinsic Orthopedics and changed its name to Intrinsic Therapeutics in January 2003. Intrinsic Therapeutics was founded in 2000 and is based in Woburn, Massachusetts.

Facet Solutions

Series A in 2004
Facet Solutions develops surgical devices for the treatment of degenerative spinal disorders. Facet Solutions was founded on 2003 and is based in Hopkinton, Massachusetts.

Tryton Medical

Venture Round in 2013
Tryton Medical, Inc. develops stent systems for the treatment of cardiovascular diseases in the United States, Austria, Belgium, Denmark, Ireland, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, and the United Kingdom. It offers the Tryton Side Branch Stent System, which offers a strategy for treating atherosclerotic lesions in the side branch at the site of a bifurcation. The company was founded in 2003 and is based in Durham, North Carolina.

Solace Therapeutics

Venture Round in 2012
Solace Therapeutics, Inc. develops non-surgical office based treatments for unexpected bladder leaks in women. The company provides Vesair Bladder Control System, a non-surgical device that floats within the urinary bladder to eliminate and reduce involuntary urinary leakage. Its Vesair Bladder Control System is a non-surgical alternative to involuntary urinary leakage and a lightweight device to address the cause of stress urinary incontinence. The company was incorporated in 2002 and is based in Framingham, Massachusetts.

Confluent Surgical

Series C in 2002
Confluent Surgical develops products to address the need for surgical sealing and post-surgical adhesion prevention applications.The company provides DuraSeal, an adjunct to sutured dural repair during cranial surgeries to provide watertight closure. The company was founded in 1998 and is headquartered in Waltham, Massachusetts.