• Sierra Oncology

  Participated · Series D · Apr 2014

  ProNAi Therapeutics, founded in 2004 in Michigan, develops DNA interference (DNAi®) therapeutics using single‑stranded, unmodified DNA oligonucleotides delivered via a differentiated lipid delivery system (SMARTICLES®). Its lead candidate, PNT2258, is a 24‑base single‑stranded DNA oligonucleotide encapsulated in a pH‑tunable anionic liposome that targets the BCL2 gene; preclinical studies demonstrated activity both as a single agent and in combination with other therapies. Clinically, PNT2258 has shown early evidence of systemic anti‑tumor effect and has been administered to 35 patients across a Phase I study and a pilot Phase II study. The company plans to use new financing to advance PNT2258 into multiple Phase II studies in relapsed or treatment‑refractory non‑Hodgkin’s lymphoma (including DLBCL, Richter’s transformation, and follicular lymphoma), support manufacturing, advance preclinical candidates, and build its organization in Michigan. ProNAi reports a broad pipeline of DNAi leads against over 40 oncology and non‑cancer targets (including CMYC, KRAS, PD‑1 and Hep B) and pursues a strategy of establishing multiple partnerships across its portfolio. The company emphasizes that combining genetic specificity with effective IV delivery addresses nucleic acid delivery challenges faced by competitive programs. ProNAi Therapeutics develops nucleic acid therapeutics using proprietary DNA interference (DNAi) technology. Its lead candidate, PNT2258, is a first-in-class DNAi agent that targets the oncogene BCL2 and is in Phase II trials for BCL2-driven lymphomas. The company reports clinical activity to date — 3 complete responses and 1 partial response among 8 diffuse large B‑cell and follicular lymphoma patients, with additional tumor shrinkage and disease stabilization in the remainder. ProNAi plans to expand single-agent Phase II studies to refractory or relapsed DLBCL and FL and to initiate front-line combination studies later in the year. Management emphasizes a capital-efficient clinical strategy and intends to pursue multiple partnerships across a pipeline of DNAi leads for over 30 cancer and non-cancer targets, including CMYC and KRAS. The company is headquartered in Plymouth, Mich. ProNAi Therapeutics develops nucleic acid-based DNA-interference therapies designed to silence disease-causing genes. Its lead candidate, PNT2258, uses pieces of DNA and liposomal delivery technology licensed from Marina Biotech to block target gene activity inside cells. PNT2258 entered a phase 1 trial in September 2010 to evaluate safety and tolerable dosing in patients with tumors lacking effective treatments; results were expected later in the year, with a planned phase 1/2 to follow. The company is exploring additional targets in inflammation and genetic diseases. Financially, ProNAi was reported to be on its way to raising $1 million according to a recent U.S. SEC filing, and lists investors including Sigvion Capital, Apjohn Ventures, Amherst Fund, Grand Angels, Bioscience Research Commercialization Center, Michigan Technology Tri-Corridor and the 21st Century Jobs Fund. Founded in 2004, ProNAi is headquartered in Kalamazoo, Michigan. ProNAI Therapeutics develops DNA-driven gene-silencing cancer therapeutics, notably PNT2258. PNT2258 entered a Phase I study in September that is scheduled to run through next year. The company says the proceeds from its current fundraising will likely pay for this trial and other studies. Regulatory filings report the company has raised nearly $1.7 million toward a potential $12 million fundraise. COO Robert Forgey previously said the company had raised nearly $1 million to pay for the trial. ProNAI has raised about $17 million to date from investors including Apjohn Ventures and Sigvion Capital. ProNAi is a Kalamazoo, Mich.-based biotechnology company focused on intravenous cancer therapeutics. The company develops drugs based on "nucleic acid interference" to fight cancer. Its lead candidate, PNT2258, could enter early-stage clinical trials against skin and prostate cancer later this year. Financially, ProNAi has raised $2 million toward a $4 million bridge round and aims to raise a $25 million second round later this year. The bridge financing includes investors such as Apjohn Ventures, Sigvion Capital, Amherst Fund, Grand Angels, the Michigan Economic Development Corp., the Biosciences Research Commercialization Center and the Michigan Technology Tri-Corridor. The article discloses no operating metrics or prior funding rounds.

• CytoPherx

  Participated · Equity · Jan 2012

  CytoPherx develops a proprietary Selective Cytopheretic Device (SCD) that is added to the renal replacement circuit to modulate acute systemic inflammation in ICU patients with kidney injury. The company is clinical-stage and pursuing U.S. regulatory approval to commercialize its anti-inflammatory therapy for acute kidney injury. Management reports early trials showing potential mortality reductions of as much as 15% in critically ill patients. CytoPherx has initiated a 344-patient pivotal trial across leading U.S. nephrologists and institutions, with a primary endpoint of reduced mortality through day 60 and secondary evaluations including severe sepsis, ARDS, and long-term dialysis dependence. The company says the target population represents over 2.7 million hospitalized U.S. patients diagnosed with acute renal failure annually, with roughly 160,000 receiving Continuous Renal Replacement Therapy, a multi-billion dollar market opportunity. CytoPherx was founded in July 2007 and is headquartered in Ann Arbor, Michigan. CytoPherx develops hollow-fiber dialysis filters designed to isolate and deactivate white blood cells in patients’ bloodstreams to treat renal failure and inflammation from cardiopulmonary bypass. The company is a University of Michigan spinoff, founded in 2007 and previously known as Nephrion Inc., based in Ann Arbor, Mich. The recent funding will support a clinical trial for its filters; CytoPherx began enrolling patients last month and expects to complete enrollment by the end of June. The current financing is part of an anticipated $7.5M Series B, with $5M already raised. The new funds are structured as equity, debt and warrants and were sourced from five investors. To date, the company has raised $12M in total lifetime funding.

• Svelte Medical Systems

  Participated · Equity · Dec 2009

  Svelte Medical Systems develops drug-eluting coronary stent delivery platforms, including a stent-on-a-wire Integrated Delivery System (IDS) and Rapid-Exchange (RX) platforms. The IDS incorporates Asahi wire tip technology and is designed to optimize transradial (wrist) interventions using a ‘slender’ approach to percutaneous coronary intervention. Svelte says its IDS has the lowest-crimped stent profile on the market, enabling physicians to downsize catheter sizes during procedures. The company plans to commercialize the IDS and RX platforms in Europe in the second half of 2015. Svelte is privately held and headquartered in New Providence, New Jersey. Recent financing will support ongoing operations, infrastructure expansion, and commercialization efforts. Svelte Medical Systems develops highly deliverable balloon-expandable drug-eluting coronary stents and integrated delivery systems. Its core products are the Integrated Delivery System (IDS) and Rapid-Exchange (RX) platforms, which combine wire, balloon and stent into an all-in-one system to reduce procedural steps, contrast use, fluoroscopy time, and adjunctive product costs. The platforms use low-compliant balloon material and proprietary Balloon Control Bands, and employ a bioresorbable drug carrier composed of naturally-occurring amino acids (PEAs) that is resorbed over approximately nine months via enzymolysis to reduce inflammatory response versus PLGA technologies. The company reported 0% clinically-driven MACE in its first-in-man drug-eluting stent study through 20 months. Results from the randomized, controlled DIRECT II study evaluating the IDS to support CE Mark certification will be available later this year. Headquartered in New Providence, New Jersey, Svelte is using recent capital to accelerate regulatory approvals in the U.S. and Japan, enhance operational efficiencies, and augment commercial preparation. Svelte Medical Systems develops low-profile, balloon-expandable drug-eluting coronary stent platforms including a fixed-wire Integrated Delivery System (IDS) and a conventional rapid-exchange (RX) system. Both platforms incorporate the company’s specialized low-compliant balloon with Balloon Control Bands and a high-pressure design intended to facilitate direct stenting and reduce procedure time. Its drug coating uses a bioabsorbable amino-acid-based carrier (PEAs) absorbed over approximately nine months via enzymolysis, which the company says reduces inflammatory response compared with PLGA-based coatings. The company plans commercialization of the IDS and RX platforms in Europe in early 2015 and expects results from the randomized, controlled DIRECT II study next year. Financially, Svelte closed approximately $22 million of new private financing in the latest round, bringing total invested capital to about $65 million since the company’s 2007 founding. Proceeds from the round will be used to complete the DIRECT II study, prepare for European commercialization of IDS and RX, and expand overall operational infrastructure. Headquartered in New Providence, New Jersey, Svelte is positioned to advance its clinical and commercialization milestones with the new capital. Svelte Medical Systems develops the Acrobat drug-eluting stent, now advancing a second-generation design with a low-thrombogenic surface and a dissolving drug coating intended to reduce clotting and inflammatory reactions. The company plans to initiate clinical trials for the new stent in New Zealand, Europe and South America this year and is already conducting a 30-patient trial in New Zealand. The original Acrobat received CE mark approval in Europe in 2010. Svelte has raised about $25 million in debt and equity since December and reported an additional $8 million in new investment in recent Form D filings. The company was founded by serial entrepreneurs Robert Fischell and his sons David and Tim, and is led by CEO Mark Pomeranz, a veteran of Cordis Cardiology at Johnson & Johnson. Svelte plans to expand into the peripheral artery stent market and intends to compete with large medtech firms while navigating a challenging fundraising climate for medical device companies. Svelte Medical Systems develops the Acrobat all-in-one stent system for cardiac procedures. Its first-generation Acrobat received a CE mark in the European Union last year. The company raised $17 million in a Series B round—just under half of a $37 million target—to advance its first- and second-generation stents. Management says the second-generation device will be a drug-eluting version, and the Series B proceeds are intended to support pivotal CE mark trials for that device, expand sales and marketing in Europe, and initiate U.S. clinical trials. Svelte was founded in 2007 in New Providence, New Jersey by serial entrepreneurs Robert Fischell and his sons David and Tim; Mark Pomeranz is CEO. The company plans future expansion into lower-extremity and neurovascular applications and positions Acrobat as a procedure-simplifying technology that reduces steps, costs, and radiation exposure compared with existing approaches. It faces competition from large incumbents including Medtronic, Abbott Laboratories, and Boston Scientific.

No current team members are available.