Led · Equity · May 2016

Medical Imaging Partnership, founded in 2010 and led by CEO Simon Oates, provides radiology equipment (MRI, CT, X-Ray, Ultrasound), patient referral and triage management, radiology reporting and clinical support to NHS and independent-sector customers. The company operates in the Southeast and North of England and employs 55 people. It received an up to £12m investment from Apposite Capital. The funds will be used to support a geographical roll-out of services across the UK, to grow the management team and employee base, and to continue investing in radiology services for patients and clinicians. The company's core offering centers on diagnostic imaging services and clinical support into patient management. In conjunction with the investment, Sam Gray, Partner at Apposite Capital, is joining MIP's Board of Directors.

Participated · Series B · Mar 2014

RuiYi is a La Jolla, California-based global therapeutic innovation provider focused on discovering and developing monoclonal antibodies against G protein-coupled receptors (GPCRs). Its core pipeline includes RYI-008, a novel anti-IL-6 monoclonal antibody for rheumatoid arthritis and cancer, and RYI-018, a monoclonal antibody to cannabinoid receptor 1 (CB-1). RYI-018 was identified via the company’s iCAPS platform and targets a commercially validated but previously intractable drug target. The company plans to file an IND and initiate clinical trials in multiple countries in 2015 for RYI-008 and to advance RYI-018 into preclinical studies. Financially, RuiYi closed a $4M debt financing from Silicon Valley Bank and previously completed a $15M Series B in March 2014. Discovery efforts and its research facility are located in the Zhangjiang Hi‑Tech Park in Pudong, Shanghai, China. RuiYi develops innovative monoclonal antibodies directed at previously untargeted G protein–coupled receptors (GPCRs) to address global therapeutic needs. Its pipeline includes a lead anti‑IL‑6 antibody, RYI‑008, and discovery programs against GPCRs such as cannabinoid receptor 1 (CB‑1). The company intends to use new funding to advance RYI‑008 and to discover and develop additional therapeutic mAbs targeting GPCRs. RuiYi is led by Paul A. Grayson (President & CEO), Erik Karrer, Ph.D. (Chief Scientific Officer), and Brian Campion, Ph.D. (VP of Business Development). It maintains a research facility at Zhangjiang Hi‑Tech Park in Pudong, Shanghai and is based in La Jolla, California. The company raised $15m in a Series B to support continued development and discovery work.

Participated · Equity · Nov 2012

Ambit Biosciences is a San Diego-based biopharmaceutical company focused on developing small-molecule kinase inhibitors for cancer and inflammatory diseases. Its lead candidate is quizartinib (AC220), an oral FLT3 inhibitor currently in clinical trials for relapsed/refractory and treatment‑naive AML. Quizartinib is being developed in collaboration with Astellas Pharma under a worldwide agreement to jointly develop and commercialize FLT3 kinase inhibitors. Ambit's clinical pipeline also includes AC430, an oral JAK2 inhibitor, and CEP-32496, a BRAF inhibitor licensed to Teva, and its preclinical portfolio includes a proprietary CSF1R inhibitor. The company plans to use proceeds from a new $50M financing (the first $25M tranche has closed) to continue advancing quizartinib. Michael Martino serves as President and CEO. Ambit Biosciences focuses on discovery and development of small-molecule kinase inhibitors, with a clinical pipeline that includes AC220, AC430, and AC480 and preclinical candidates such as CEP-32496. Its lead candidate, AC220, is a potent, selective, orally bioavailable FLT3 inhibitor being developed in collaboration with Astellas Pharma and is in a Phase 2 pivotal trial for relapsed/refractory AML with FLT3 ITD mutations. AC430 is an oral JAK2 inhibitor and AC480 is a pan-HER inhibitor, both in Phase 1 trials. The company also has partnered or licensed assets (CEP-32496 licensed to Cephalon) and describes an approach to optimizing and selecting potential new drugs. Ambit is privately held and raised new capital in this financing to continue clinical development across its clinical assets. The company announced that the financing provided sufficient funding to pursue its strategy and enabled it to withdraw plans for an initial public offering. Ambit Biosciences is a San Diego–based developer of small‑molecule profiling tools used in biopharmaceutical development. The company reported an ongoing debt financing and has disclosed $6.5M raised to date in that round. According to the firm's filing it is raising up to $19.7M in debt, including warrants. Details on the debt financing (investor identities and specific terms) were not released in the filing. Ambit has previously raised over $105M in venture funding. Historical investors named in filings include Apposite Capital, MedImmune, OrbiMed, Radius Ventures, NovaQuest, Horizon Technology Finance, Avalon Ventures, Perseus‑Soros Biopharmaceutical Fund, Forward Ventures, Roche Venture Fund, Lumira Capital, GIMV, Genechem Management, and Bristol‑Myers Squibb. Ambit Biosciences is a San Diego-based biotechnology company focused on developing small-molecule kinase inhibitors for the treatment of cancer. Its core product strategy centers on advancing small-molecule kinase inhibitor candidates through development. The company announced a $49.3M Series D equity financing to help advance its product pipeline. The financing syndicate includes strategic life-science investors and venture funds. Ambit intends to apply the proceeds toward progressing its pipeline candidates and clinical efforts. The article does not disclose operating metrics such as revenue or user figures.

Participated · Series C · Feb 2011

Ulthera develops the Ulthera® System, an FDA-approved ultrasound device for non-invasive face and neck aesthetic treatments, with a specific indication for eyebrow lift. The system has been available in Europe and Asia since 2008 through a network of distributors. Within the U.S. the company operates a direct sales and marketing organization focused on plastic surgeons, facial plastic surgeons and dermatologists. The company plans to continue developing its platform technology and to invest in product development. Ulthera also intends to expand its organization. Financially, the company completed a $10.5M Series C venture round to support these plans.

Participated · Series A · Oct 2010

Convergence Pharmaceuticals is a Cambridge, UK-based biotechnology company focused on developing novel analgesics. It was formed in October 2010 following the acquisition of neuroscience clinical assets from GlaxoSmithKline. The company’s pipeline comprises differentiated clinical-stage compounds that target points of convergence in chronic pain signaling through modulation of specific ion channels. Its lead product candidate is ready to begin Phase 2 clinical trials, and a second program is preparing to enter Phase 1. Management is led by Dr. Clive Dix and includes former GSK scientific experts in the field of pain. The recent financing will be used to accelerate development of these clinical-stage programs.