Venture Investors

Venture Investors, LLC, established in 1982, is a Wisconsin-based venture capital firm specializing in seed and early-stage investments in the healthcare sector, with a focus on the Midwest region. The firm invests in biotechnology, medical devices, diagnostics, digital health, and other technology-enabled healthcare companies. It seeks to invest $0.25 million to $2.5 million initially, with the potential for follow-on investments of up to $8 million, typically holding investments for five to seven years. Venture Investors aims to be the lead investor and prefers to invest in the form of preferred stock and/or debt with warrant coverage. The firm has offices in Madison, Wisconsin, Ann Arbor, Michigan, and Milwaukee, Wisconsin, and has over $200 million in assets under management.

Jim Adox

Executive Managing Director

Scott Button

Managing Director

Jenni Le

Principal

Jenni Le

Associate

John Neis

Managing Director

Paul Weiss

Managing Director

Paul Weiss Ph.D

Managing Director

102 past transactions

Rivermark Medical

Series C in 2024
Rivermark Medical is a medical device company focused on developing minimally invasive therapies for Benign Prostatic Hyperplasia (BPH), a condition that significantly impacts urinary function. The technology, created by urologists, aims to provide effective symptom relief while minimizing side effects and patient downtime. This innovative treatment allows for a swift return to normal daily activities, eliminating the need for post-procedural catheters and ensuring a reliable reduction in BPH symptoms. Rivermark Medical’s approach reflects a commitment to improving patient outcomes through advanced medical solutions.

HistoSonics

Series D in 2024
HistoSonics, Inc. is a medical technology company based in Plymouth, Minnesota, established in 2009. It specializes in developing non-invasive tumor ablation systems, notably the Edison platform. This innovative technology employs sonic beam therapy to deliver pulsed sound energy into the body, effectively liquefying and destroying targeted tissues at the sub-cellular level. By harnessing advanced imaging and proprietary sensing technology, HistoSonics provides personalized treatments with high precision and control, allowing physicians to continuously monitor the treatment's effects in real time. The platform aims to offer a safer alternative to traditional interventional and surgical methods by minimizing undesirable side effects associated with these approaches.

EarliTec Diagnostics

Series B in 2024
EarliTec Diagnostics is a digital health company focused on the early identification and treatment of autism spectrum disorder (ASD) and related disabilities in children. Developed by researchers from Children's Healthcare of Atlanta, Emory University School of Medicine, and Yale University, the company is at the forefront of creating biomarkers that enhance understanding of children's perspectives. EarliTec's innovative technology includes an investigational device that employs dynamic quantification of social-visual engagement (DQSVE) to analyze subtle looking behaviors that are often unnoticed by the naked eye. This advanced approach enables parents, healthcare providers, and caregivers to deliver personalized and timely therapeutic interventions tailored to individual needs.

ViaLase

Series C in 2024
ViaLase is a medical technology company that specializes in developing an image-guided femtosecond laser surgical system for the treatment of open-angle glaucoma. Founded in 2019 and based in Corona Del Mar, California, the company focuses on utilizing micron-resolution optical coherence tomography (OCT) technology. This innovative approach enables the creation of customized, micron-sized drainage channels through the trabecular meshwork, connecting the anterior chamber to Schlemm's canal without the need for surgical penetration or opening of the eye. By offering an efficient and non-invasive treatment option, ViaLase aims to enhance the management of glaucoma for medical professionals and their patients.

Elephas

Series C in 2024
Elephas is a company focused on revolutionizing cancer treatment through its innovative live tumor imaging diagnostics platform. By leveraging advances in cancer biology, multimodal microscopy, engineering, and artificial intelligence, Elephas aims to enhance clinical decision-making and personalize therapy for cancer patients. The company's approach involves the use of human live tumor fragments, allowing clinicians to determine the most effective treatment strategies for individual patients. In doing so, Elephas not only seeks to improve patient outcomes but also to expedite the drug development process, addressing the significant challenges faced in oncology.

Visana Health

Seed Round in 2023
Visana Health is a digital health company dedicated to enhancing the quality of life for women experiencing severe menstrual pain, particularly those affected by endometriosis and pelvic pain. The company operates a virtual women's health clinic that offers evidence-based treatments and connects patients with a network of expert clinicians. Visana Health aims to address the systemic failures in healthcare that have left many women without adequate support and treatment options.

HistoSonics

Convertible Note in 2022
HistoSonics, Inc. is a medical technology company based in Plymouth, Minnesota, established in 2009. It specializes in developing non-invasive tumor ablation systems, notably the Edison platform. This innovative technology employs sonic beam therapy to deliver pulsed sound energy into the body, effectively liquefying and destroying targeted tissues at the sub-cellular level. By harnessing advanced imaging and proprietary sensing technology, HistoSonics provides personalized treatments with high precision and control, allowing physicians to continuously monitor the treatment's effects in real time. The platform aims to offer a safer alternative to traditional interventional and surgical methods by minimizing undesirable side effects associated with these approaches.

Delphinus Medical Technologies

Series D in 2022
Delphinus Medical Technologies, Inc. is a medical imaging company based in Plymouth, Michigan, with an additional office in Sunnyvale, California. Founded in 2009, the company specializes in developing and commercializing innovative breast cancer screening solutions. Its flagship product, SoftVue, employs a unique circular array transducer technology that utilizes ultrasound to provide three-dimensional and tomographic imaging of the entire breast. This system is designed to differentiate between benign and malignant masses, assess breast cancer risks, and monitor treatment, all while ensuring a comfortable experience for patients without the use of radiation. Delphinus serves hospitals and imaging clinics both in the United States and internationally, aiming to improve early detection and diagnosis of breast cancer.

EnsoData

Series A in 2022
EnsoData is a healthcare technology startup focused on utilizing artificial intelligence to enhance the diagnosis of health conditions, particularly in the realm of sleep disorders. The company has developed a sophisticated software platform that employs machine learning algorithms to automate the analysis of sleep data, enabling clinicians to efficiently score and diagnose conditions such as sleep apnea. By integrating best practices in scoring with advanced machine learning techniques, EnsoData's autoscoring algorithm adapts to individual patient data, significantly reducing the time required to review and interpret complex sleep studies. This innovation not only streamlines workflow for neurology labs but also improves patient outcomes and contributes to increased operational efficiency and revenue for healthcare providers.

ViaLase

Series A in 2021
ViaLase is a medical technology company that specializes in developing an image-guided femtosecond laser surgical system for the treatment of open-angle glaucoma. Founded in 2019 and based in Corona Del Mar, California, the company focuses on utilizing micron-resolution optical coherence tomography (OCT) technology. This innovative approach enables the creation of customized, micron-sized drainage channels through the trabecular meshwork, connecting the anterior chamber to Schlemm's canal without the need for surgical penetration or opening of the eye. By offering an efficient and non-invasive treatment option, ViaLase aims to enhance the management of glaucoma for medical professionals and their patients.

EnsoData

Series A in 2020
EnsoData is a healthcare technology startup focused on utilizing artificial intelligence to enhance the diagnosis of health conditions, particularly in the realm of sleep disorders. The company has developed a sophisticated software platform that employs machine learning algorithms to automate the analysis of sleep data, enabling clinicians to efficiently score and diagnose conditions such as sleep apnea. By integrating best practices in scoring with advanced machine learning techniques, EnsoData's autoscoring algorithm adapts to individual patient data, significantly reducing the time required to review and interpret complex sleep studies. This innovation not only streamlines workflow for neurology labs but also improves patient outcomes and contributes to increased operational efficiency and revenue for healthcare providers.

HistoSonics

Series C in 2020
HistoSonics, Inc. is a medical technology company based in Plymouth, Minnesota, established in 2009. It specializes in developing non-invasive tumor ablation systems, notably the Edison platform. This innovative technology employs sonic beam therapy to deliver pulsed sound energy into the body, effectively liquefying and destroying targeted tissues at the sub-cellular level. By harnessing advanced imaging and proprietary sensing technology, HistoSonics provides personalized treatments with high precision and control, allowing physicians to continuously monitor the treatment's effects in real time. The platform aims to offer a safer alternative to traditional interventional and surgical methods by minimizing undesirable side effects associated with these approaches.

Eximis Surgical

Series A in 2020
Eximis Surgical is a medical device company based in Louisville, Colorado, founded in 2014. The company specializes in developing innovative technologies for specimen removal in laparoscopic surgery. Its primary device utilizes RF energized cutting wires housed within a containment bag, allowing surgeons to efficiently remove large specimens through small incisions. This technology integrates seamlessly into existing surgical protocols, significantly reducing the time required for specimen removal to just minutes. Additionally, it minimizes patient discomfort and enhances safety by separating specimens into narrow strips, thereby facilitating clean tissue segmentation for pathology identification. Eximis Surgical's focus on enabling minimally invasive surgical procedures aims to improve patient outcomes and streamline the surgical process.

Health Scholars

Series B in 2020
Health Scholars, Inc. is a company that specializes in developing medical simulation training software aimed at enhancing clinical education and training for healthcare providers. Incorporated in 2017 and based in Westminster, Colorado, Health Scholars offers a range of virtual reality (VR) solutions, including pre-hospital and in-hospital advanced cardiovascular life support (ACLS) training for first responders and clinicians, respectively. Additionally, the company provides The OR, a VR training program focused on surgical fire prevention to help mitigate risks and reduce liability costs. Their platform is designed to be user-friendly and scalable across health systems, facilitating the management and delivery of interactive training content. By leveraging VR technology, Health Scholars enables healthcare professionals to engage in cost-effective and immersive training experiences that improve patient care outcomes.

SkySpecs

Series C in 2019
SkySpecs, Inc. is a technology company based in Ann Arbor, Michigan, with an additional office in Amsterdam, Netherlands, that specializes in automating operations and maintenance for the wind energy industry through unmanned aerial vehicles. Founded in 2012, the company provides a range of services including analytics, wind turbine blade services, and engineering projects. Its offerings also encompass collaborative software solutions for managing and analyzing data from various sources, as well as digitization and planning for repair campaigns. Notably, SkySpecs has developed Horizon, a reporting software that serves as a central repository for operations and maintenance data related to wind turbine blades, facilitating task management, communication with third parties, and execution of large-scale repair projects. By leveraging its industry expertise and innovative technologies, SkySpecs aims to enhance productivity and efficiency for its clients within the renewable energy sector.

HistoSonics

Series C in 2019
HistoSonics, Inc. is a medical technology company based in Plymouth, Minnesota, established in 2009. It specializes in developing non-invasive tumor ablation systems, notably the Edison platform. This innovative technology employs sonic beam therapy to deliver pulsed sound energy into the body, effectively liquefying and destroying targeted tissues at the sub-cellular level. By harnessing advanced imaging and proprietary sensing technology, HistoSonics provides personalized treatments with high precision and control, allowing physicians to continuously monitor the treatment's effects in real time. The platform aims to offer a safer alternative to traditional interventional and surgical methods by minimizing undesirable side effects associated with these approaches.

Eximis Surgical

Venture Round in 2018
Eximis Surgical is a medical device company based in Louisville, Colorado, founded in 2014. The company specializes in developing innovative technologies for specimen removal in laparoscopic surgery. Its primary device utilizes RF energized cutting wires housed within a containment bag, allowing surgeons to efficiently remove large specimens through small incisions. This technology integrates seamlessly into existing surgical protocols, significantly reducing the time required for specimen removal to just minutes. Additionally, it minimizes patient discomfort and enhances safety by separating specimens into narrow strips, thereby facilitating clean tissue segmentation for pathology identification. Eximis Surgical's focus on enabling minimally invasive surgical procedures aims to improve patient outcomes and streamline the surgical process.

Invenra

Series B in 2018
Invenra Inc. is a biotechnology company based in Madison, Wisconsin, specializing in the discovery of biologics, particularly focusing on antibodies and their derivatives. Founded in 2011, Invenra employs a proprietary technology that integrates cell-free expression of full-length antibodies with extreme miniaturization. This innovative approach allows for the screening of an unprecedented number of full-length antibodies in phenotypic assays. The company's platform is designed to facilitate the development and optimization of human multi-specific antibodies, with applications in treating diseases such as cancer, Alzheimer's, and diabetes. Invenra's team comprises scientists with extensive expertise across various disciplines, including genomics, biochemistry, and bioengineering, ensuring a strong foundation in both fundamental research and practical applications.

HealthMyne

Series B in 2018
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

SkySpecs

Series B in 2018
SkySpecs, Inc. is a technology company based in Ann Arbor, Michigan, with an additional office in Amsterdam, Netherlands, that specializes in automating operations and maintenance for the wind energy industry through unmanned aerial vehicles. Founded in 2012, the company provides a range of services including analytics, wind turbine blade services, and engineering projects. Its offerings also encompass collaborative software solutions for managing and analyzing data from various sources, as well as digitization and planning for repair campaigns. Notably, SkySpecs has developed Horizon, a reporting software that serves as a central repository for operations and maintenance data related to wind turbine blades, facilitating task management, communication with third parties, and execution of large-scale repair projects. By leveraging its industry expertise and innovative technologies, SkySpecs aims to enhance productivity and efficiency for its clients within the renewable energy sector.

HealthMyne

Venture Round in 2017
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

FluGen

Series A in 2017
FluGen, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007, FluGen specializes in both seasonal and pandemic influenza prevention. The company offers RedeeFlu, a nasal spray vaccine, and utilizes a vaccine-loaded intradermal microneedle delivery device. FluGen's innovative approach includes the use of a live, single replication, intranasally delivered virus with a deleted M2 segment (M2SR), enhancing its ability to prevent the spread of influenza and other respiratory pathogens, including COVID-19.

Aerpio Pharmaceuticals

Venture Round in 2017
Aerpio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Cincinnati, Ohio, focused on developing innovative compounds for the treatment of ocular diseases and diabetic complications. The company's lead candidate, razuprotafib, is a small molecule activator of the Tie2 pathway that has completed a Phase IIb clinical trial for diabetic retinopathy. Additionally, Aerpio is advancing ARP-1536, a humanized monoclonal antibody in preclinical development for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently undergoing a Phase 1b trial for inflammatory bowel disease. Furthermore, the company is developing a bispecific antibody for the treatment of wet age-related macular degeneration and diabetic macular edema. Aerpio has also partnered with Quantum Leap Healthcare Collaborative to evaluate razuprotafib's potential in treating acute respiratory distress syndrome in COVID-19 patients. Founded in 2011, Aerpio Pharmaceuticals aims for rapid development of its promising therapies.

HistoSonics

Series B in 2017
HistoSonics, Inc. is a medical technology company based in Plymouth, Minnesota, established in 2009. It specializes in developing non-invasive tumor ablation systems, notably the Edison platform. This innovative technology employs sonic beam therapy to deliver pulsed sound energy into the body, effectively liquefying and destroying targeted tissues at the sub-cellular level. By harnessing advanced imaging and proprietary sensing technology, HistoSonics provides personalized treatments with high precision and control, allowing physicians to continuously monitor the treatment's effects in real time. The platform aims to offer a safer alternative to traditional interventional and surgical methods by minimizing undesirable side effects associated with these approaches.

Elucent Medical

Series A in 2017
Elucent Medical LLC is a healthcare company focused on enhancing breast cancer treatment. Established in 2014 and headquartered in Brookfield, Wisconsin, Elucent Medical creates and commercializes a wireless marker tag and detection system that improves the localization of breast abnormalities during surgical excision. Their advanced surgical navigation technology relies on real-time data processing to accurately identify surgical markers, which helps in determining tumor margins and ultimately contributes to better patient outcomes. By streamlining the surgical process and eliminating the need for traditional metal clips, Elucent Medical aims to make breast cancer procedures more accessible and affordable while enabling surgeons to effectively preserve breast tissue during cancer removal. The company's innovations serve both healthcare providers and patients, enhancing the overall efficacy of breast cancer surgeries.

TAI Diagnostics

Venture Round in 2017
TAI Diagnostics, Inc. is a biotechnology company founded in 2013 and based in Wauwatosa, Wisconsin. It specializes in developing a non-invasive and highly sensitive diagnostic test aimed at monitoring the health of transplanted organs in patients who have undergone solid organ transplants. Utilizing advanced cell-free DNA (cf-DNA) technology, TAI Diagnostics provides a direct measurement of organ injury by quantifying donor-specific cf-DNA released into the bloodstream from damaged cells of transplanted organs. This innovative approach enables physicians to detect organ rejection at an early stage and conduct regular surveillance biopsies, ultimately enhancing patient outcomes in transplant care. The company is strategically located in the Milwaukee County Research Park, near key medical research institutions.

Madison Vaccines

Venture Round in 2017
Madison Vaccines, Inc. is a biopharmaceutical company based in the United States that specializes in the development of therapeutic plasmid DNA vaccines, specifically targeting prostate cancer and bone metastases. The company is engaged in creating two distinct vaccines aimed at treating prostate cancer and is also developing a diagnostic test to identify patients who would benefit from these therapies. Madison Vaccines' immune-activating therapies are designed to stimulate the immune system to eradicate residual tumor cells before they progress to overt bone metastases, thus delaying the need for castration therapies and improving the chances of a cure at an early stage of the disease.

HealthMyne

Venture Round in 2016
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

Silatronix

Venture Round in 2016
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

FluGen

Venture Round in 2016
FluGen, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007, FluGen specializes in both seasonal and pandemic influenza prevention. The company offers RedeeFlu, a nasal spray vaccine, and utilizes a vaccine-loaded intradermal microneedle delivery device. FluGen's innovative approach includes the use of a live, single replication, intranasally delivered virus with a deleted M2 segment (M2SR), enhancing its ability to prevent the spread of influenza and other respiratory pathogens, including COVID-19.

SkySpecs

Series A in 2015
SkySpecs, Inc. is a technology company based in Ann Arbor, Michigan, with an additional office in Amsterdam, Netherlands, that specializes in automating operations and maintenance for the wind energy industry through unmanned aerial vehicles. Founded in 2012, the company provides a range of services including analytics, wind turbine blade services, and engineering projects. Its offerings also encompass collaborative software solutions for managing and analyzing data from various sources, as well as digitization and planning for repair campaigns. Notably, SkySpecs has developed Horizon, a reporting software that serves as a central repository for operations and maintenance data related to wind turbine blades, facilitating task management, communication with third parties, and execution of large-scale repair projects. By leveraging its industry expertise and innovative technologies, SkySpecs aims to enhance productivity and efficiency for its clients within the renewable energy sector.

TAI Diagnostics

Series A in 2015
TAI Diagnostics, Inc. is a biotechnology company founded in 2013 and based in Wauwatosa, Wisconsin. It specializes in developing a non-invasive and highly sensitive diagnostic test aimed at monitoring the health of transplanted organs in patients who have undergone solid organ transplants. Utilizing advanced cell-free DNA (cf-DNA) technology, TAI Diagnostics provides a direct measurement of organ injury by quantifying donor-specific cf-DNA released into the bloodstream from damaged cells of transplanted organs. This innovative approach enables physicians to detect organ rejection at an early stage and conduct regular surveillance biopsies, ultimately enhancing patient outcomes in transplant care. The company is strategically located in the Milwaukee County Research Park, near key medical research institutions.

Silatronix

Venture Round in 2015
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

Delphinus Medical Technologies

Series C in 2015
Delphinus Medical Technologies, Inc. is a medical imaging company based in Plymouth, Michigan, with an additional office in Sunnyvale, California. Founded in 2009, the company specializes in developing and commercializing innovative breast cancer screening solutions. Its flagship product, SoftVue, employs a unique circular array transducer technology that utilizes ultrasound to provide three-dimensional and tomographic imaging of the entire breast. This system is designed to differentiate between benign and malignant masses, assess breast cancer risks, and monitor treatment, all while ensuring a comfortable experience for patients without the use of radiation. Delphinus serves hospitals and imaging clinics both in the United States and internationally, aiming to improve early detection and diagnosis of breast cancer.

ReShape Medical

Series D in 2015
ReShape Medical Inc. is a medical device company headquartered in San Clemente, California, specializing in non-surgical weight loss solutions. The company offers the ReShape Integrated Dual Balloon System, which employs dual balloon technology to aid weight loss in adults with a Body Mass Index (BMI) of 30-40 who have not achieved success with diet and exercise alone. This procedure is complemented by a personalized weight loss program that lasts one year. The company's product line includes the FDA-approved Lap-Band System, a minimally invasive treatment for obesity, and the investigational ReShape Vest System, designed to wrap around the stomach and induce weight loss without permanently altering patient anatomy. ReShape Medical's portfolio aims to provide effective alternatives to invasive surgical procedures for managing obesity and related metabolic diseases. The company operates as a subsidiary of EnteroMedics Inc., having undergone a name change in 2017.

FluGen

Series A in 2015
FluGen, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007, FluGen specializes in both seasonal and pandemic influenza prevention. The company offers RedeeFlu, a nasal spray vaccine, and utilizes a vaccine-loaded intradermal microneedle delivery device. FluGen's innovative approach includes the use of a live, single replication, intranasally delivered virus with a deleted M2 segment (M2SR), enhancing its ability to prevent the spread of influenza and other respiratory pathogens, including COVID-19.

Neurovance

Series A in 2015
Neurovance, Inc. is a clinical-stage neuroscience company headquartered in Cambridge, Massachusetts, focused on developing and commercializing therapies for attention deficit hyperactivity disorder (ADHD) in both adults and children. Founded in 2009, Neurovance has developed centanafadine, a triple reuptake inhibitor that precisely modulates the activity of norepinephrine, dopamine, and serotonin to enhance focus and address symptoms of inattention and disorganization in ADHD patients. As of 2017, Neurovance operates as a subsidiary of Otsuka America, Inc.

NeuWave Medical

Series C in 2015
NeuWave Medical is a company based in Madison, Wisconsin, that specializes in the development of energy-based minimally invasive medical devices. Founded in 2004 by a team of engineers and physician-scientists, NeuWave Medical is dedicated to addressing clinical needs through innovative solutions that are both effective and minimally invasive. The company aims to create high-quality devices that are preferred by leading physicians and medical centers worldwide, focusing on treating a variety of serious medical conditions.

HealthMyne

Series A in 2015
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

Madison Vaccines

Series A in 2015
Madison Vaccines, Inc. is a biopharmaceutical company based in the United States that specializes in the development of therapeutic plasmid DNA vaccines, specifically targeting prostate cancer and bone metastases. The company is engaged in creating two distinct vaccines aimed at treating prostate cancer and is also developing a diagnostic test to identify patients who would benefit from these therapies. Madison Vaccines' immune-activating therapies are designed to stimulate the immune system to eradicate residual tumor cells before they progress to overt bone metastases, thus delaying the need for castration therapies and improving the chances of a cure at an early stage of the disease.

Silatronix

Funding Round in 2015
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

Thalchemy

Funding Round in 2015
Thalchemy Corp. is a technology company focused on the development of neurally-inspired algorithms and accelerators to facilitate continuous sensory processing in smartphones and other battery-operated devices. Its algorithms emulate the function of the mammalian thalamus, which routes and preprocesses sensory data. Thalchemy's solutions enable the constant detection of complex patterns across various sensory modalities, including gestures and voice commands, significantly extending battery life for devices. The technology supports power-efficient voice and gesture control, creating opportunities for always-on applications and user interfaces. Additionally, it provides applications for real-time monitoring of environmental conditions, capable of signaling emergency assistance in cases of accidents or medical emergencies. Founded in 2012 and based in Madison, Wisconsin, Thalchemy Corp. aims to transform user interaction by allowing devices to continuously monitor surroundings even when in low-power modes.

Prevacept Infection Control

Venture Round in 2014
Prevacept Infection Control is a clinical-stage company focused on developing and commercializing products that prevent infections associated with indwelling catheters.

Thalchemy

Seed Round in 2014
Thalchemy Corp. is a technology company focused on the development of neurally-inspired algorithms and accelerators to facilitate continuous sensory processing in smartphones and other battery-operated devices. Its algorithms emulate the function of the mammalian thalamus, which routes and preprocesses sensory data. Thalchemy's solutions enable the constant detection of complex patterns across various sensory modalities, including gestures and voice commands, significantly extending battery life for devices. The technology supports power-efficient voice and gesture control, creating opportunities for always-on applications and user interfaces. Additionally, it provides applications for real-time monitoring of environmental conditions, capable of signaling emergency assistance in cases of accidents or medical emergencies. Founded in 2012 and based in Madison, Wisconsin, Thalchemy Corp. aims to transform user interaction by allowing devices to continuously monitor surroundings even when in low-power modes.

HistoSonics

Series A in 2014
HistoSonics, Inc. is a medical technology company based in Plymouth, Minnesota, established in 2009. It specializes in developing non-invasive tumor ablation systems, notably the Edison platform. This innovative technology employs sonic beam therapy to deliver pulsed sound energy into the body, effectively liquefying and destroying targeted tissues at the sub-cellular level. By harnessing advanced imaging and proprietary sensing technology, HistoSonics provides personalized treatments with high precision and control, allowing physicians to continuously monitor the treatment's effects in real time. The platform aims to offer a safer alternative to traditional interventional and surgical methods by minimizing undesirable side effects associated with these approaches.

Aerpio Pharmaceuticals

Series C in 2014
Aerpio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Cincinnati, Ohio, focused on developing innovative compounds for the treatment of ocular diseases and diabetic complications. The company's lead candidate, razuprotafib, is a small molecule activator of the Tie2 pathway that has completed a Phase IIb clinical trial for diabetic retinopathy. Additionally, Aerpio is advancing ARP-1536, a humanized monoclonal antibody in preclinical development for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently undergoing a Phase 1b trial for inflammatory bowel disease. Furthermore, the company is developing a bispecific antibody for the treatment of wet age-related macular degeneration and diabetic macular edema. Aerpio has also partnered with Quantum Leap Healthcare Collaborative to evaluate razuprotafib's potential in treating acute respiratory distress syndrome in COVID-19 patients. Founded in 2011, Aerpio Pharmaceuticals aims for rapid development of its promising therapies.

Neurovance

Series A in 2014
Neurovance, Inc. is a clinical-stage neuroscience company headquartered in Cambridge, Massachusetts, focused on developing and commercializing therapies for attention deficit hyperactivity disorder (ADHD) in both adults and children. Founded in 2009, Neurovance has developed centanafadine, a triple reuptake inhibitor that precisely modulates the activity of norepinephrine, dopamine, and serotonin to enhance focus and address symptoms of inattention and disorganization in ADHD patients. As of 2017, Neurovance operates as a subsidiary of Otsuka America, Inc.

NeuMoDx Molecular

Series B in 2014
NeuMoDx Molecular, Inc. is a molecular diagnostics company based in Ann Arbor, Michigan, that focuses on developing innovative solutions for molecular diagnostic testing in hospital and clinical reference laboratories. Established in 2012 and formerly known as Molecular Systems Corporation, NeuMoDx provides in-vitro testing tools designed to enhance the efficiency and cost-effectiveness of laboratory operations. The company's platform aims to increase the utilization of molecular diagnostics among medical providers, facilitating early disease identification and treatment. As of September 2020, NeuMoDx operates as a subsidiary of QIAGEN N.V.

UpTo

Series A in 2014
UpTo, Inc. is a developer of a social calendar application that enhances users' ability to manage and share events seamlessly. Founded in 2011 and based in Detroit, Michigan, UpTo offers a platform that allows organizations to publish their calendars and connect privately with friends, family, and colleagues. Users can follow various event streams, prioritize important events, and synchronize their calendars with popular services such as Google Calendar and Outlook. The application also enables users to add and manage events effortlessly, providing a clutter-free view of upcoming activities. With its focus on interactivity and customization, UpTo aims to simplify event sharing and accessibility for businesses and individuals alike.

Madison Vaccines

Series A in 2014
Madison Vaccines, Inc. is a biopharmaceutical company based in the United States that specializes in the development of therapeutic plasmid DNA vaccines, specifically targeting prostate cancer and bone metastases. The company is engaged in creating two distinct vaccines aimed at treating prostate cancer and is also developing a diagnostic test to identify patients who would benefit from these therapies. Madison Vaccines' immune-activating therapies are designed to stimulate the immune system to eradicate residual tumor cells before they progress to overt bone metastases, thus delaying the need for castration therapies and improving the chances of a cure at an early stage of the disease.

Cellectar Biosciences

Post in 2014
Cellectar Biosciences is a clinical-stage biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative therapies for cancer treatment. The company's lead candidate, CLR 131, is a phospholipid drug conjugate (PDC) currently undergoing Phase II clinical trials for patients with relapsed or refractory multiple myeloma and other B-cell malignancies. Additionally, Cellectar is developing CLR 1900, a PDC aimed at targeting solid tumors. The company employs a proprietary PDC delivery platform, which combines lipid-like molecules with radioisotopes to enhance the targeting of malignant cells while minimizing effects on healthy tissue. Cellectar has established collaborative programs with various organizations to advance the development of multiple PDCs, further expanding its portfolio. Founded in 2002 and originally named Novelos Therapeutics, Cellectar Biosciences is headquartered in Florham Park, New Jersey.

Silatronix

Venture Round in 2013
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

Aerpio Pharmaceuticals

Series A in 2013
Aerpio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Cincinnati, Ohio, focused on developing innovative compounds for the treatment of ocular diseases and diabetic complications. The company's lead candidate, razuprotafib, is a small molecule activator of the Tie2 pathway that has completed a Phase IIb clinical trial for diabetic retinopathy. Additionally, Aerpio is advancing ARP-1536, a humanized monoclonal antibody in preclinical development for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently undergoing a Phase 1b trial for inflammatory bowel disease. Furthermore, the company is developing a bispecific antibody for the treatment of wet age-related macular degeneration and diabetic macular edema. Aerpio has also partnered with Quantum Leap Healthcare Collaborative to evaluate razuprotafib's potential in treating acute respiratory distress syndrome in COVID-19 patients. Founded in 2011, Aerpio Pharmaceuticals aims for rapid development of its promising therapies.

Tissue Regeneration Systems

Series B in 2013
Tissue Regeneration Systems Inc. is a start-up medical device company focused on skeletal reconstruction and bone regeneration technologies. Founded in 2005 and headquartered in Plymouth, Michigan, with an additional office in Kirkland, Washington, the company has licensed its innovative technology platform from the Universities of Michigan and Wisconsin. This platform is designed for a variety of clinical applications, including craniomaxillofacial surgery, orthopedic surgery, spine fusion surgery, and bone growth factor delivery. The company has conducted extensive research, including large animal studies that yielded promising long-term results. It has developed initial product offerings, completed necessary bench and animal testing, and submitted regulatory filings to the FDA. Upon receiving approvals, Tissue Regeneration Systems aims to commercialize its products in the United States and anticipates generating significant revenues within the next few years.

Nextt

Seed Round in 2013
Nextt, Inc. is a technology company based in Madison, Wisconsin, specializing in the development of web and mobile application software. The company's primary focus is on creating a private network that facilitates social planning among close friends, enabling them to connect online and organize offline activities. Nextt simplifies the process of sharing ideas and coordinating plans, allowing users to manage the details such as participants, activities, timing, and locations in a private setting. By prioritizing quality face-to-face interactions, Nextt aims to help individuals enhance their social lives and make more meaningful connections.

UpTo

Series A in 2013
UpTo, Inc. is a developer of a social calendar application that enhances users' ability to manage and share events seamlessly. Founded in 2011 and based in Detroit, Michigan, UpTo offers a platform that allows organizations to publish their calendars and connect privately with friends, family, and colleagues. Users can follow various event streams, prioritize important events, and synchronize their calendars with popular services such as Google Calendar and Outlook. The application also enables users to add and manage events effortlessly, providing a clutter-free view of upcoming activities. With its focus on interactivity and customization, UpTo aims to simplify event sharing and accessibility for businesses and individuals alike.

Akebia Therapeutics

Series C in 2013
Akebia Therapeutics, Inc. is a biopharmaceutical company dedicated to the development and commercialization of therapeutics for kidney diseases. The company's primary product is Auryxia, a ferric citrate formulation approved for managing serum phosphorus levels in adult patients with chronic kidney disease, both on dialysis and those not requiring dialysis, as well as for treating iron deficiency anemia. Additionally, Akebia is advancing vadadustat, an oral therapy that is currently in Phase III clinical development for treating anemia associated with chronic kidney disease. The company has established collaboration agreements with Otsuka Pharmaceutical Co. Ltd. and Mitsubishi Tanabe Pharma Corporation for the development and commercialization of vadadustat in various global markets, alongside a research and licensing agreement with Janssen Pharmaceutica NV for related compounds. Founded in 2007, Akebia Therapeutics is headquartered in Cambridge, Massachusetts.

NetSocket

Series B in 2013
NetSocket is a company focused on virtualized, software-defined networking, established in 2006 and headquartered in Plano, Texas. Its primary product, the Netsocket Virtual Network (NVN), delivers on the promises of Software-Defined Networking (SDN) and Network Functions Virtualization (NFV) through advanced automation applications that operate on a fully virtualized network infrastructure. In addition to NVN, NetSocket provides network-service assurance for unified communications, exemplified by its creation of the Cloud Experience Manager, which enhances the management of Microsoft Lync unified communication services.

BlueWillow Biologics

Series C in 2012
BlueWillow Biologics, Inc. is a clinical-stage biopharmaceutical company based in Ann Arbor, Michigan, specializing in the development of intranasal vaccines and anti-infective products utilizing patented nanotechnology. Founded as a spin-off from the University of Michigan in 1999, the company focuses on creating vaccines that provide mucosal immunity against respiratory and sexually transmitted diseases, including pertussis, pandemic influenza, anthrax, HSV2, chlamydia, and HIV. Its innovative NanoStat vaccine technology features an oil-in-water nanoemulsion that effectively incorporates and delivers multiple antigens while enhancing immune responses. In addition to its vaccine portfolio, BlueWillow Biologics offers NanoBio Protect, a nasal antiseptic solution. The company has established partnerships, including a licensing agreement with Merck for its adjuvant technology and a strategic alliance with Public Health England to further its mission in combating infectious diseases.

ReShape Medical

Series C in 2012
ReShape Medical Inc. is a medical device company headquartered in San Clemente, California, specializing in non-surgical weight loss solutions. The company offers the ReShape Integrated Dual Balloon System, which employs dual balloon technology to aid weight loss in adults with a Body Mass Index (BMI) of 30-40 who have not achieved success with diet and exercise alone. This procedure is complemented by a personalized weight loss program that lasts one year. The company's product line includes the FDA-approved Lap-Band System, a minimally invasive treatment for obesity, and the investigational ReShape Vest System, designed to wrap around the stomach and induce weight loss without permanently altering patient anatomy. ReShape Medical's portfolio aims to provide effective alternatives to invasive surgical procedures for managing obesity and related metabolic diseases. The company operates as a subsidiary of EnteroMedics Inc., having undergone a name change in 2017.

NeuWave Medical

Series B in 2012
NeuWave Medical is a company based in Madison, Wisconsin, that specializes in the development of energy-based minimally invasive medical devices. Founded in 2004 by a team of engineers and physician-scientists, NeuWave Medical is dedicated to addressing clinical needs through innovative solutions that are both effective and minimally invasive. The company aims to create high-quality devices that are preferred by leading physicians and medical centers worldwide, focusing on treating a variety of serious medical conditions.

Juventas Therapeutics

Series B in 2012
Juventas Therapeutics, Inc. is a clinical-stage biotechnology company based in Cleveland, Ohio, founded in 2007. The company specializes in developing non-viral gene therapies aimed at activating the body's natural repair processes. Its primary focus is on treating non-healing wounds in patients with advanced peripheral artery disease. The flagship product, JVS-100, is a non-viral gene therapy that expresses stromal cell-derived factor-1 (SDF-1), a signaling protein that helps recruit the body's stem cells and promotes tissue repair across various disease states. Juventas has transitioned its therapeutic platform from concept to the initiation of mid-stage clinical trials, underpinned by exclusive licensing from the Cleveland Clinic and supported by various investors and grants.

Aerpio Pharmaceuticals

Venture Round in 2012
Aerpio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Cincinnati, Ohio, focused on developing innovative compounds for the treatment of ocular diseases and diabetic complications. The company's lead candidate, razuprotafib, is a small molecule activator of the Tie2 pathway that has completed a Phase IIb clinical trial for diabetic retinopathy. Additionally, Aerpio is advancing ARP-1536, a humanized monoclonal antibody in preclinical development for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently undergoing a Phase 1b trial for inflammatory bowel disease. Furthermore, the company is developing a bispecific antibody for the treatment of wet age-related macular degeneration and diabetic macular edema. Aerpio has also partnered with Quantum Leap Healthcare Collaborative to evaluate razuprotafib's potential in treating acute respiratory distress syndrome in COVID-19 patients. Founded in 2011, Aerpio Pharmaceuticals aims for rapid development of its promising therapies.

Akebia Therapeutics

Series B in 2011
Akebia Therapeutics, Inc. is a biopharmaceutical company dedicated to the development and commercialization of therapeutics for kidney diseases. The company's primary product is Auryxia, a ferric citrate formulation approved for managing serum phosphorus levels in adult patients with chronic kidney disease, both on dialysis and those not requiring dialysis, as well as for treating iron deficiency anemia. Additionally, Akebia is advancing vadadustat, an oral therapy that is currently in Phase III clinical development for treating anemia associated with chronic kidney disease. The company has established collaboration agreements with Otsuka Pharmaceutical Co. Ltd. and Mitsubishi Tanabe Pharma Corporation for the development and commercialization of vadadustat in various global markets, alongside a research and licensing agreement with Janssen Pharmaceutica NV for related compounds. Founded in 2007, Akebia Therapeutics is headquartered in Cambridge, Massachusetts.

Euthymics Bioscience

Series A in 2011
Euthymics Bioscience, Inc. is a clinical-stage biopharmaceutical company based in Cambridge, Massachusetts, focused on developing innovative therapeutics targeting central nervous system disorders. Founded in 2009, the company aims to address significant unmet medical needs, particularly in the areas of major depressive disorder (MDD) and alcohol use disorder (AUD). Euthymics is developing EB-1010, a treatment for depression designed to enhance efficacy while minimizing common side effects associated with standard antidepressants, such as weight gain and sexual dysfunction. Additionally, the company is working on therapies for smoking cessation and impulsivity, targeting patients experiencing withdrawal symptoms and cravings. Through its research and development efforts, Euthymics Bioscience seeks to improve the quality of life for individuals struggling with these challenging conditions.

Celleration

Series E in 2011
Celleration Inc. is a privately held medical device company based in Eden Prairie, Minnesota, founded in 1999. The company specializes in developing and commercializing therapeutic ultrasound technologies for wound care. Its flagship product, the MIST Therapy System, utilizes low-frequency ultrasound delivered through a saline mist to promote healing in wounds. This innovative approach allows ultrasound energy to penetrate beyond the surface of the wound, stimulating cellular activity and enhancing the healing process. Since receiving FDA clearance in 2005, Celleration has established a strong presence in the U.S. market, with over 1 million MIST Therapy treatments performed, benefiting more than 65,000 patients across numerous healthcare facilities. Celleration's commitment to advancing wound care technology has resulted in significant clinical and economic benefits, reinforcing its role in the medical community.

Mithridion

Series C in 2011
Mithridion, Inc. is a biopharmaceutical company based in Madison, Wisconsin, that specializes in discovering and developing small molecule drugs aimed at addressing unmet medical needs associated with central nervous system disorders. Founded in 2004, the company focuses primarily on serious chronic neurodegenerative diseases, including Alzheimer's disease and schizophrenia. Its drug portfolio features candidates designed for treating cognitive impairments and blocking disease processes in conditions such as Progressive Supranuclear Palsy. Notable projects include MCD-386CR, which targets neurodegenerative diseases, and MCD-386/glycopyrrolate, aimed at preventing Alzheimer's in genetically defined presymptomatic mutation carriers. Additionally, the company is developing MI-08-016/035 for common neurodegenerative diseases and MI-10-022 to address significant unmet needs in schizophrenia.

HistoSonics

Series A in 2010
HistoSonics, Inc. is a medical technology company based in Plymouth, Minnesota, established in 2009. It specializes in developing non-invasive tumor ablation systems, notably the Edison platform. This innovative technology employs sonic beam therapy to deliver pulsed sound energy into the body, effectively liquefying and destroying targeted tissues at the sub-cellular level. By harnessing advanced imaging and proprietary sensing technology, HistoSonics provides personalized treatments with high precision and control, allowing physicians to continuously monitor the treatment's effects in real time. The platform aims to offer a safer alternative to traditional interventional and surgical methods by minimizing undesirable side effects associated with these approaches.

Akebia Therapeutics

Series A in 2009
Akebia Therapeutics, Inc. is a biopharmaceutical company dedicated to the development and commercialization of therapeutics for kidney diseases. The company's primary product is Auryxia, a ferric citrate formulation approved for managing serum phosphorus levels in adult patients with chronic kidney disease, both on dialysis and those not requiring dialysis, as well as for treating iron deficiency anemia. Additionally, Akebia is advancing vadadustat, an oral therapy that is currently in Phase III clinical development for treating anemia associated with chronic kidney disease. The company has established collaboration agreements with Otsuka Pharmaceutical Co. Ltd. and Mitsubishi Tanabe Pharma Corporation for the development and commercialization of vadadustat in various global markets, alongside a research and licensing agreement with Janssen Pharmaceutica NV for related compounds. Founded in 2007, Akebia Therapeutics is headquartered in Cambridge, Massachusetts.

BlueWillow Biologics

Series B in 2009
BlueWillow Biologics, Inc. is a clinical-stage biopharmaceutical company based in Ann Arbor, Michigan, specializing in the development of intranasal vaccines and anti-infective products utilizing patented nanotechnology. Founded as a spin-off from the University of Michigan in 1999, the company focuses on creating vaccines that provide mucosal immunity against respiratory and sexually transmitted diseases, including pertussis, pandemic influenza, anthrax, HSV2, chlamydia, and HIV. Its innovative NanoStat vaccine technology features an oil-in-water nanoemulsion that effectively incorporates and delivers multiple antigens while enhancing immune responses. In addition to its vaccine portfolio, BlueWillow Biologics offers NanoBio Protect, a nasal antiseptic solution. The company has established partnerships, including a licensing agreement with Merck for its adjuvant technology and a strategic alliance with Public Health England to further its mission in combating infectious diseases.

ProCertus BioPharm

Venture Round in 2009
ProCertus BioPharm, Inc., an oncology-based pharmaceutical company, develops therapeutics to protect cancer patients from the side effects of radiotherapy and chemotherapy in the United States. Its products include ProDermaCel that protects cancer patients from chemotherapy- and radiotherapy-induced alopecia; DermX, which prevents radiotherapy-induced dermatitis; and OralX that provides protection against chemotherapy- and radiotherapy- induced oral mucositis. ProCertus BioPharm, Inc. was founded in 1997 and is based in Madison, Wisconsin.

LensX Lasers

Series B in 2009
LensX Lasers is a developer of surgical lasers used for the reparation of cataracts.

Mithridion

Series B in 2009
Mithridion, Inc. is a biopharmaceutical company based in Madison, Wisconsin, that specializes in discovering and developing small molecule drugs aimed at addressing unmet medical needs associated with central nervous system disorders. Founded in 2004, the company focuses primarily on serious chronic neurodegenerative diseases, including Alzheimer's disease and schizophrenia. Its drug portfolio features candidates designed for treating cognitive impairments and blocking disease processes in conditions such as Progressive Supranuclear Palsy. Notable projects include MCD-386CR, which targets neurodegenerative diseases, and MCD-386/glycopyrrolate, aimed at preventing Alzheimer's in genetically defined presymptomatic mutation carriers. Additionally, the company is developing MI-08-016/035 for common neurodegenerative diseases and MI-10-022 to address significant unmet needs in schizophrenia.

Silatronix

Seed Round in 2008
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

Tissue Regeneration Systems

Series A in 2008
Tissue Regeneration Systems Inc. is a start-up medical device company focused on skeletal reconstruction and bone regeneration technologies. Founded in 2005 and headquartered in Plymouth, Michigan, with an additional office in Kirkland, Washington, the company has licensed its innovative technology platform from the Universities of Michigan and Wisconsin. This platform is designed for a variety of clinical applications, including craniomaxillofacial surgery, orthopedic surgery, spine fusion surgery, and bone growth factor delivery. The company has conducted extensive research, including large animal studies that yielded promising long-term results. It has developed initial product offerings, completed necessary bench and animal testing, and submitted regulatory filings to the FDA. Upon receiving approvals, Tissue Regeneration Systems aims to commercialize its products in the United States and anticipates generating significant revenues within the next few years.

NERITES

Series A in 2008
At Nerites, they combine world class technology with a management team that has a proven track record of bringing technical innovation to market. The company was founded in 2004 to commercialize a new generation of synthetic biomaterials that can enhance natural tissue repair, reduce complications from traditional devices, and degrade safely when they are no longer needed.

NeuWave Medical

Series A in 2008
NeuWave Medical is a company based in Madison, Wisconsin, that specializes in the development of energy-based minimally invasive medical devices. Founded in 2004 by a team of engineers and physician-scientists, NeuWave Medical is dedicated to addressing clinical needs through innovative solutions that are both effective and minimally invasive. The company aims to create high-quality devices that are preferred by leading physicians and medical centers worldwide, focusing on treating a variety of serious medical conditions.

Pattern Insight

Series A in 2008
Pattern Insight is a technology company specializing in advanced data mining and real-time analysis of engineering and IT data. It offers two main products: Log Insight and Code Insight. Log Insight is a Big Data analytics and log management platform designed to analyze large volumes of machine-generated data in real time, facilitating operational analytics in both traditional data centers and cloud environments. Code Insight focuses on identifying and eliminating known defects in source code before software is released, helping to enhance software quality. The company serves notable clients such as Cisco, Intel, Qualcomm, Tellabs, and Motorola, providing tools that enable software engineering teams to discover patterns and gain insights from system data, thereby significantly reducing software defects.

Cellectar Biosciences

Venture Round in 2008
Cellectar Biosciences is a clinical-stage biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative therapies for cancer treatment. The company's lead candidate, CLR 131, is a phospholipid drug conjugate (PDC) currently undergoing Phase II clinical trials for patients with relapsed or refractory multiple myeloma and other B-cell malignancies. Additionally, Cellectar is developing CLR 1900, a PDC aimed at targeting solid tumors. The company employs a proprietary PDC delivery platform, which combines lipid-like molecules with radioisotopes to enhance the targeting of malignant cells while minimizing effects on healthy tissue. Cellectar has established collaborative programs with various organizations to advance the development of multiple PDCs, further expanding its portfolio. Founded in 2002 and originally named Novelos Therapeutics, Cellectar Biosciences is headquartered in Florham Park, New Jersey.

Deltanoid Pharmaceuticals

Series B in 2007
Deltanoid Pharmaceuticals, Inc. is a biopharmaceutical company based in Madison, Wisconsin, dedicated to the research, development, and commercialization of innovative therapies for various human diseases. Founded in 1999, the company specializes in vitamin D analogs and other compounds, primarily focusing on treatments for renal diseases, osteoporosis, and skin conditions. Notably, Deltanoid's lead product, DP001, targets secondary hyperparathyroidism in patients with chronic kidney disease undergoing hemodialysis, while another product, DP006, is aimed at treating acne. The company leverages raw university inventions and has established partnerships to advance its drug development initiatives, including a collaboration with Novadiol, Inc. for the development of a vitamin D therapy. Deltanoid's mission is to enhance health outcomes by unlocking the potential of vitamin D receptor-based therapies.

Virent Energy Systems

Series B in 2007
Virent Energy Systems, Inc. specializes in producing hydrocarbon chemicals and fuels from plant sugars through its proprietary BioForming technology. This innovative process converts plant-based feedstocks, such as beet sugar, sugar cane, corn starch, and various cellulosic materials, into a diverse range of hydrocarbon products that mirror those derived from petroleum, including gasoline, diesel, and jet fuel, as well as essential chemicals for plastics and fibers. The company also manufactures specialty products like bio-paraxylene, bio-toluene, and bio-benzene, along with aromatic solvents used across multiple industries, including paints, textiles, and automotive applications. Founded in 2002 and headquartered in Madison, Wisconsin, Virent Energy Systems has established strategic partnerships with industry leaders, enhancing its capabilities and market reach. As of late 2016, it operates as a subsidiary of Marathon Petroleum Corporation.

ProCertus BioPharm

Series A in 2007
ProCertus BioPharm, Inc., an oncology-based pharmaceutical company, develops therapeutics to protect cancer patients from the side effects of radiotherapy and chemotherapy in the United States. Its products include ProDermaCel that protects cancer patients from chemotherapy- and radiotherapy-induced alopecia; DermX, which prevents radiotherapy-induced dermatitis; and OralX that provides protection against chemotherapy- and radiotherapy- induced oral mucositis. ProCertus BioPharm, Inc. was founded in 1997 and is based in Madison, Wisconsin.

Incept BioSystems

Series A in 2007
Incept BioSystems develops innovative microscale technologies aimed at enhancing the treatment of infertility for fertility specialists. The company's primary offering is the System for Microfluidic Assisted Reproductive Technology (SMART) platform, which significantly improves the in vitro manipulation, performance, and viability of high-value cells, including human embryos. By providing precise control over in vitro cell culture environments, Incept BioSystems addresses the challenges associated with the developmental growth and viability of embryos outside the human body. This advanced technology empowers fertility specialists to offer patients new hope in their journey to start families.

Mithridion

Series A in 2007
Mithridion, Inc. is a biopharmaceutical company based in Madison, Wisconsin, that specializes in discovering and developing small molecule drugs aimed at addressing unmet medical needs associated with central nervous system disorders. Founded in 2004, the company focuses primarily on serious chronic neurodegenerative diseases, including Alzheimer's disease and schizophrenia. Its drug portfolio features candidates designed for treating cognitive impairments and blocking disease processes in conditions such as Progressive Supranuclear Palsy. Notable projects include MCD-386CR, which targets neurodegenerative diseases, and MCD-386/glycopyrrolate, aimed at preventing Alzheimer's in genetically defined presymptomatic mutation carriers. Additionally, the company is developing MI-08-016/035 for common neurodegenerative diseases and MI-10-022 to address significant unmet needs in schizophrenia.

Virent Energy Systems

Series A in 2006
Virent Energy Systems, Inc. specializes in producing hydrocarbon chemicals and fuels from plant sugars through its proprietary BioForming technology. This innovative process converts plant-based feedstocks, such as beet sugar, sugar cane, corn starch, and various cellulosic materials, into a diverse range of hydrocarbon products that mirror those derived from petroleum, including gasoline, diesel, and jet fuel, as well as essential chemicals for plastics and fibers. The company also manufactures specialty products like bio-paraxylene, bio-toluene, and bio-benzene, along with aromatic solvents used across multiple industries, including paints, textiles, and automotive applications. Founded in 2002 and headquartered in Madison, Wisconsin, Virent Energy Systems has established strategic partnerships with industry leaders, enhancing its capabilities and market reach. As of late 2016, it operates as a subsidiary of Marathon Petroleum Corporation.

Chromatin

Venture Round in 2006
Chromatin is a biotech company focused on developing and marketing innovative technologies and products across agricultural, energy, chemical, nutritional, and pharmaceutical sectors. The company specializes in hybrid, drought-tolerant sorghum seeds, utilizing advanced breeding methodologies to create next-generation sorghum that meets the rising demand for sustainable agricultural practices. By combining diverse sorghum varieties, Chromatin produces seeds that can thrive on more than 80% of the world's agricultural land, supporting farmers in optimizing crop production for both traditional agriculture and bio-industrial applications. The company aims to address key societal challenges, enhancing agricultural productivity and contributing to renewable energy resources.

Zystor

Series A in 2004
ZyStor Therapeutics, Inc. is a privately-held biotechnology company focused on developing enzyme replacement therapies for lysosomal storage diseases. The company specializes in creating innovative replacement technologies that enhance the delivery of therapeutics designed to substitute for missing lysosomal enzymes. These therapies aim to address the needs of patients suffering from genetic disorders characterized by lysosomal storage dysfunction.

Roche NimbleGen

Series F in 2004
Roche NimbleGen is a biotechnology company headquartered in Madison, Wisconsin, that specializes in providing products and services for the life science research market. The company offers a range of solutions including the SeqCap EZ system, which enhances exome enrichment in a single test tube, as well as various library construction kits and reagents. Roche NimbleGen's SeqCap Epi system focuses on DNA methylation assessment, providing tools for single-base resolution analysis. The company utilizes its proprietary Maskless Array Synthesis technology to manufacture high-density DNA microarrays, improving the quality and yield of DNA sequencing data. Additionally, Roche NimbleGen offers software tools such as SignalMap for genomic data visualization and NimbleDesign for library design, alongside comprehensive online technical support. Established in 1999, Roche NimbleGen operates as a subsidiary of Roche Holding AG, emphasizing research and innovation in genomic technologies.

Roche NimbleGen

Series D in 2003
Roche NimbleGen is a biotechnology company headquartered in Madison, Wisconsin, that specializes in providing products and services for the life science research market. The company offers a range of solutions including the SeqCap EZ system, which enhances exome enrichment in a single test tube, as well as various library construction kits and reagents. Roche NimbleGen's SeqCap Epi system focuses on DNA methylation assessment, providing tools for single-base resolution analysis. The company utilizes its proprietary Maskless Array Synthesis technology to manufacture high-density DNA microarrays, improving the quality and yield of DNA sequencing data. Additionally, Roche NimbleGen offers software tools such as SignalMap for genomic data visualization and NimbleDesign for library design, alongside comprehensive online technical support. Established in 1999, Roche NimbleGen operates as a subsidiary of Roche Holding AG, emphasizing research and innovation in genomic technologies.

Chromatin

Series A in 2002
Chromatin is a biotech company focused on developing and marketing innovative technologies and products across agricultural, energy, chemical, nutritional, and pharmaceutical sectors. The company specializes in hybrid, drought-tolerant sorghum seeds, utilizing advanced breeding methodologies to create next-generation sorghum that meets the rising demand for sustainable agricultural practices. By combining diverse sorghum varieties, Chromatin produces seeds that can thrive on more than 80% of the world's agricultural land, supporting farmers in optimizing crop production for both traditional agriculture and bio-industrial applications. The company aims to address key societal challenges, enhancing agricultural productivity and contributing to renewable energy resources.

InterSymbol Communications

Series A in 2002
Intersymbol Communications, Inc. specializes in the development and manufacturing of high-speed physical layer components designed for next-generation broadband networking systems. The company focuses on advanced electronic dispersion compensation solutions and creates high-speed optical receiver integrated circuits for long-haul and metro optical networks. Their innovative products enhance bandwidth and extend reach while reducing power consumption, leading to significant cost savings for network providers during deployment. By incorporating custom signal processing techniques and specialized architectures, Intersymbol Communications addresses the evolving demands of modern optical data transmission.

Celleration

Series B in 2002
Celleration Inc. is a privately held medical device company based in Eden Prairie, Minnesota, founded in 1999. The company specializes in developing and commercializing therapeutic ultrasound technologies for wound care. Its flagship product, the MIST Therapy System, utilizes low-frequency ultrasound delivered through a saline mist to promote healing in wounds. This innovative approach allows ultrasound energy to penetrate beyond the surface of the wound, stimulating cellular activity and enhancing the healing process. Since receiving FDA clearance in 2005, Celleration has established a strong presence in the U.S. market, with over 1 million MIST Therapy treatments performed, benefiting more than 65,000 patients across numerous healthcare facilities. Celleration's commitment to advancing wound care technology has resulted in significant clinical and economic benefits, reinforcing its role in the medical community.

Roche NimbleGen

Series B in 2001
Roche NimbleGen is a biotechnology company headquartered in Madison, Wisconsin, that specializes in providing products and services for the life science research market. The company offers a range of solutions including the SeqCap EZ system, which enhances exome enrichment in a single test tube, as well as various library construction kits and reagents. Roche NimbleGen's SeqCap Epi system focuses on DNA methylation assessment, providing tools for single-base resolution analysis. The company utilizes its proprietary Maskless Array Synthesis technology to manufacture high-density DNA microarrays, improving the quality and yield of DNA sequencing data. Additionally, Roche NimbleGen offers software tools such as SignalMap for genomic data visualization and NimbleDesign for library design, alongside comprehensive online technical support. Established in 1999, Roche NimbleGen operates as a subsidiary of Roche Holding AG, emphasizing research and innovation in genomic technologies.

Corona Optical Systems

Series A in 2001
Corona Optical Systems is a Midwest-based high-technology company headquartered in Lombard, Illinois, with additional facilities in Eau Claire, Wisconsin, and San Jose, California. Established in February 2000, the company specializes in the development and manufacture of high-speed optoelectronic components and subsystems designed for carrier-class equipment. Corona's product offerings include parallel optical modules that are essential for switching and routing equipment, positioning the company as a key player in the optoelectronics sector. As a privately held entity, Corona has successfully secured venture capital funding to support its growth and innovation in the industry.

IntraLase

Venture Round in 2000
IntraLase Corporation is a leader in the first step of LASIK surgery, the most common means of surgical vision correction. They design, develop and market a laser, related software and disposable devices used to create a cut of tissue across the cornea of a patient’s eye, or a corneal flap, which is the first step in LASIK surgery. Their advanced laser technology improves the safety, precision and visual acuity of LASIK surgery by providing a computer-controlled laser solution as an alternative to the traditional method of creating the corneal flap using a hand-held mechanical, metal-bladed device called a microkeratome. They believe their product offering will become the new standard of care for corneal flap creation. As of April 2, 2007, IntraLase Corp. was acquired by Advanced Medical Optics Inc.

SoftSwitching Technologies

Series B in 2000
SoftSwitching Technologies specializes in power quality and monitoring solutions tailored for industries such as semiconductor, food, beverage, and automotive. The company provides a comprehensive range of products, including battery-free DySC systems, intelligent I-Sense sensors that accurately detect and measure the duration of voltage sags, and a unique global notification network called Grid Alert, which reports power events. These products are designed to identify and rectify brief power disruptions, enhancing operational uptime and efficiency in manufacturing processes. By offering affordable and scalable solutions, SoftSwitching Technologies aims to improve power management for its clients across various sectors.

Gala Biotech

Venture Round in 2000
Gala Biotech, established in 1996 and based in Middleton, Wisconsin, is a biotechnology company specializing in gene insertion and expression technologies. Originally founded to produce pharmaceutical proteins in the milk of transgenic cows, Gala has evolved to focus on its proprietary GPEx® technology, which enables the rapid creation of stable, high-expressing mammalian cell lines for various gene products. With a team of over 40 employees, including 16 PhD scientists, Gala provides essential capabilities in molecular biology, cell line development, and biopharmaceutical manufacturing. The company plays a critical role in helping biotech researchers discover and characterize new therapeutic proteins by accelerating their development through GPEx® technology. To support this mission, Gala has established a state-of-the-art, 43,000 square-foot facility dedicated to GPEx®-based cell line development and compliant protein production, addressing the challenges of production support for clinical development.

Alfalight

Series A in 2000
Alfalight is a designer and manufacturer of high-power diode lasers, serving the industrial, defense, and telecommunications sectors. The company specializes in a range of laser and electro-optical systems, including precision lasers that operate in the short-wave infrared, near infrared, and visible spectra. Alfalight's technology is distinguished by its innovative aluminum-free active region (ALFA) laser structures, which allow for the production of laser diodes that exhibit exceptional reliability and efficiency, positioning the company as a leader in the laser technology market.

TomoTherapy

Series A in 1999
TomoTherapy is a developer and manufacturer of advanced radiation therapy solutions designed for cancer treatment. Its innovative ring gantry-based platform integrates CT imaging with conformal radiation therapy, allowing for precise and efficient delivery of radiation while minimizing exposure to surrounding healthy tissue. The company offers a range of products, including the Hi·Art treatment system, which has delivered over three million CT-guided, helical intensity-modulated radiation therapy (IMRT) fractions, and the TomoHD treatment system, which enables broader patient treatment with a single device. Additionally, TomoTherapy provides the TomoMobile relocatable radiation therapy solution to enhance access to advanced cancer care. With more than 350 systems in operation across 24 countries, TomoTherapy serves a diverse client base, including cancer care centers, government institutions, university research centers, and community hospitals.
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