Led · Series C · Nov 2024

TransMedics, founded in 1998, develops the Organ Care System, an investigational organ transport device designed to maintain organs in a warm, functioning state outside the body. The system aims to optimize organ health during transport, increase the number of usable donor organs, and enable living organ transplant. TransMedics recently initiated the European PROTECT trial to evaluate the Organ Care System for heart transplants. The company plans to extend the platform to other organs, including lung, liver and kidneys, and to commercialize the device. It is privately held and raised $29.75 million in Series C financing to accelerate growth, continue the PROTECT trial, and initiate new studies in Europe and the U.S. Company leadership indicated a target for European market approval early in 2007. TransMedics Group is a medical technology company built to address the need for more and better donor organs by developing portable extracorporeal warm perfusion and organ assessment technologies. The company’s Organ Care System (OCS) program focuses on preserving organ quality and assessing viability prior to transplant to potentially increase donor-organ utilization for end-stage heart, lung, and liver failure. TransMedics plans to use incremental growth capital to accelerate its commercial momentum, grow transplant volume, and improve clinical outcomes. The company said the new financing is non-dilutive and will provide financial flexibility as it scales the business. TransMedics was founded in 1998 and is headquartered in Andover, Massachusetts. The company intends to use the capital to retire existing debt and support continued market expansion. TransMedics has developed the Organ Care System (OCS), a portable technology and multi-organ platform designed to maintain donor organs in a near-physiologic state outside the body to improve transplant outcomes and expand the pool of transplantable organs. The company’s OCS Heart and OCS Lung systems are CE Marked and are used by transplant centers in Europe, Australia and Canada. The OCS Heart, Lung and Liver systems are in clinical trials in the United States. TransMedics is led by Dr. Waleed Hassanein, President and CEO. The company recently closed a $51.2M growth equity financing. TransMedics develops a portable warm blood perfusion system—referred to in coverage as an Organ Care System—that keeps donor organs functioning outside the body instead of on ice. The device is positioned as a “living organ transplant” solution intended to improve organ condition prior to transplant surgery. Reported benefits include the ability to resuscitate hearts from donors after circulatory death and to identify pathologically abnormal hearts that might be missed with cold static storage. A study and accompanying editorial in The Lancet found short-term outcomes comparable to cold storage but noted the system could reveal abnormalities and that more study is needed. The privately held Boston company was launched in 1998 and has raised well over $100 million to date, leaving it well-capitalized. CEO Waleed Hassanein has publicly criticized cooler-based transport and promoted the system as a better method for organ preservation and transport. TransMedics is an Andover, Massachusetts–based medical technology company focused on extending the life-saving benefits of organ transplantation. Led by President and CEO Dr. Waleed Hassanein, the company develops the Organ Care System (OCS™) Heart and Lung devices. The OCS devices are portable preservation technologies that maintain donor organs in a near-physiologic and functioning condition from donor to transplant recipient. TransMedics closed a $36M financing to support its programs. The company intends to use the funding to complete its heart and lung FDA pivotal trials and expand global commercial activities. In conjunction with the financing, representatives from the lead investor joined TransMedics’ Board of Directors.

Led · Series C · Nov 2024

Wellpartner provides pharmacy fulfillment, pharmacy administration and professional services with particular expertise in the Public Health Service 340B drug discount program. The company is the largest provider of 340B contract pharmacy services in the U.S., operating in a market with over $3.5 billion in annual drug sales. Its core product set targets commercial and Medicaid health plans as well as health care safety‑net providers to expand access to lower‑cost medications for underserved patients. Management says the company is establishing a leadership position with transparent, cost‑based drug fulfillment programs. The recent financing is intended to fund working capital and support strategic growth initiatives to broaden product and service offerings nationwide. Wellpartner positions itself to help expand prescription drug coverage for Americans who lack adequate access to health insurance.

Led · Equity · Nov 2024

Endosense, founded in 2003 and based in Geneva, is developing a Force Sensor ablation catheter intended to provide physicians with an objective, real-time measure of contact between the catheter and the beating heart wall. The product aims to improve the safety and efficacy of percutaneous catheter ablation and to increase adoption of the procedure for treating atrial fibrillation. Management changes include the appointment of Eric Le Royer as CEO and CTO Giovanni Leo on the board; Dina Chaya of 3i and Claudio Nessi of NeoMed also joined the board following the financing. The company positions its catheter as a potential breakthrough that could drive wider international adoption of ablation therapy. Endosense states the technology could help capture a market that analysts project may exceed a billion dollars in sales over the next decade. The company completed a CHF 26 million (USD 20 million) financing to support bringing the technology to market. Endosense is a medical‑technology company that pioneered contact‑force measurement in catheter ablation and developed the TactiCath, the first force‑sensing ablation catheter providing real‑time, objective contact‑force data. The company focuses on improving the efficacy, safety and accessibility of catheter ablation procedures for cardiac arrhythmias. Proceeds from its Series C will support development of its pipeline and the roll‑out of the TactiCath® Quartz contact‑force sensing ablation catheter in Europe via a new direct sales force. Endosense is also advancing a program to gain access to the U.S. market, where the TactiCath is currently an investigational device. Financially, the company has completed multiple Series C closings totaling USD 44.6 million (CHF 41.4 million). Endosense was founded in Geneva in 2003 and is backed by a syndicate of investors including Edmond de Rothschild Investment Partners, Neomed, Gimv, VI Partners, Sectoral Asset Management, Ysios Capital Partners, Initiative Capital Romandie and NGN Capital. Endosense is a Swiss medical technology company focused on improving the efficacy, safety and reproducibility of catheter ablation for the treatment of cardiac arrhythmias. Its core product is the proprietary force-sensing ablation catheter, the TactiCath. The Geneve-based company announced it received US$36m in Series B financing. The company will use the proceeds to fund European commercialization and a U.S. Premarket Approval (PMA) clinical study of the TactiCath. The financing is intended to support regulatory and commercialization activities for the device in Europe and the U.S.

Led · Equity · Nov 2024

Demand Media is a next-generation web media company that combines domain services, brand-able domains and niche content web sites. The company says it has taken a unique approach by combining these elements to form a new media company. Demand plans to use the new capital to further increase organic and strategic growth and to rapidly seize on unique market opportunities. The company completed a $100 million second round of funding co-led by 3i and Oak Investment Partners, with participation from Spectrum Equity Investors. The securities were issued to a limited number of accredited investors in a private placement exempt from registration under the Securities Act of 1933. Demand Media is based in Santa Monica, California. Demand Media is a Santa Monica-based online publisher. It entered into a new $225M credit facility split between a $125M revolving credit facility and a $100M term loan. The new facility replaces an existing $105M revolving credit facility and includes an option to increase the amount to $250M. Lenders on the facility are Silicon Valley Bank, U.S. Bank, Fifth Third Bank, Comerica Bank, Citibank, Union Bank, OneWest Bank and Goldman Sachs Bank. Demand Media said it will use the funding to gain additional flexibility and liquidity to pursue strategic objectives, including a spin-off of its domain services businesses. Demand Media is a Los Angeles-based online media firm run by Richard Rosenblatt. PEHub reported the company has raised an additional $35M. The firm filed a regulatory filing with the SEC on March 13. A Demand Media spokesperson did not respond to inquiries seeking confirmation or details of the round. If the report is accurate, the round would bring the firm's total capital raised to over $355M. Investors in prior and current rounds include 3i Ventures, Generation Partners, Goldman Sachs, Oak Investment Partners, and Spectrum Equity Investors. Demand Media is based in Santa Monica, California, and was founded by Richard Rosenblatt, the former president of Intermix Media. According to Mashable as quoted in the article, the company buys domain names with organic traffic, adds social networking features, and owns registrars eNom and BulkRegister. The company completed a third round of funding worth $100 million from Goldman Sachs. Previous investors include 3i Group, Generation Partners, Oak Investment Partners, and Spectrum Equity Partners; Demand Media has raised a total of $320 million to date. The article does not specify how the company will use the new proceeds or provide additional operating metrics or plans. Demand Media, formed by former MySpace chairman Richard Rosenblatt, is building a portfolio of generic websites that largely lack staff‑generated content. The sites are designed to attract visitors and monetize traffic via online advertising provided by partners such as Yahoo and Google. The company is buying cheap content feeds and expects to rely in part on user‑generated contributions to populate the sites. One example cited is flashgames.com, which reportedly earns more than $150,000 a year selling online ads despite offering only links to other game sites. Demand Media has raised $120 million in financing from Spectrum Equity Partners, Oak Investment Partners and Generation Partners. According to the company website update, Demand Media is based in Los Angeles with offices in Seattle.

Led · Series E · Nov 2024

Coremetrics provides a SaaS platform for digital marketing optimization, combining advanced online analytics with precision marketing applications such as search engine bid management, email marketing, and cross-sell tools. Its solutions are integrated into IBM's WebSphere Commerce. The company serves over 1,000 online business sites transacting over $15 billion this year and grew its customer base by 46% over the past year. Coremetrics reports sales win rates approaching 70% and has displaced competitors across online retail and other sectors. The firm says it will use new capital to continue record sales growth, accelerate marketing programs, and expand sales capacity, with investor 3i highlighting international expansion opportunities in Europe and Asia. Coremetrics is privately held and headquartered in San Mateo, California. Coremetrics is a San Mateo start-up that provides web analytics to measure traffic and visitor behavior for bloggers and website administrators. Investors injected $31M in new funding to help the company hold its own in a crowded analytics market. Participating investors include FTVentures and previous backers Accel and Highland Capital. The article describes Coremetrics as one of the bigger players in the industry but notes flashy Web 2.0 upstarts such as MeasureMap (just bought by Google) and Blogbeat are getting a lot of buzz. The financing is framed amid expectations of consolidation in the analytics industry. No revenue, user metrics, valuation, or instrument details were disclosed in the article.