• Highland Therapeutics

  Led · Series A · Jun 2015

  Highland Therapeutics Inc. is a specialty pharmaceutical company that, through its wholly owned subsidiary Ironshore Pharmaceuticals & Development, leverages its proprietary DELEXIS® technology to optimize delivery of previously approved drugs. Its lead candidates are HLD-200 (a next‑generation methylphenidate) and HLD-100 (a next‑generation amphetamine) intended for nighttime dosing to provide symptom control immediately upon waking and throughout the day. The company aims to address inadequate morning symptom control in ADHD and is exploring additional indications, including potential use of HLD-100 in Binge Eating Disorder. Highland announced a US$50 million financing that management says will enable a pivot from a pure R&D organization to a scalable pharmaceutical company and support commercialization. Proceeds are earmarked to complete clinical development, secure dedicated manufacturing capacity, build U.S. sales and marketing infrastructure, engage in pre-marketing and medical education activities, and pursue pipeline expansion opportunities. The financing consisted of a US$25 million equity offering and a US$25 million credit facility. Highland Therapeutics is a Toronto-based pharmaceutical company led by President & CEO David Lickrish. Through its wholly owned subsidiary Ironshore Pharmaceuticals & Development, Inc., the company is developing HLD-200 (methylphenidate), which is being investigated in an ongoing Phase III clinical trial called the Clinical Endpoint Evaluation Study (CEES) for treatment of ADHD symptoms. Highland also plans a Phase IIB/III study of HLD-100 (amphetamine). The company closed $25M in funding from an unnamed private equity investor. Proceeds are intended to complete clinical development of HLD-200 through a New Drug Application, support the HLD-100 Phase IIB/III study, expand manufacturing capacity and pursue pipeline expansion opportunities. The article does not disclose additional financial metrics or other participating investors. Highland Therapeutics leverages proprietary technologies to optimize delivery of previously approved drug products. Its two lead compounds, HLD-100 (a novel formulation of amphetamine) and HLD-200 (a novel formulation of methylphenidate), are being developed to address lack of symptom control during the early morning routine in patients with ADHD. The company is led by President and CEO David Lickrish and is supported by an internal Clinical Development group responsible for manufacturing and clinical development of the lead compounds. Highland completed a US$6.7M financing and intends to use the funds to conduct up to five clinical studies across its two candidates. Additional uses of proceeds include market research to refine commercialization strategies, scaling up manufacturing activities, and general corporate purposes.

• Mirna Therapeutics

  Participated · Series D · Apr 2015

  Mirna Therapeutics is an Austin, TX-based clinical-stage biopharmaceutical and immuno-oncology company focused on developing microRNA-based cancer therapeutics. Its lead program, MRX34, is a miRNA mimic currently in a Phase 1 clinical trial including patients with hepatocellular carcinoma, other solid tumors and hematological malignancies. The company intends to use the financing to advance MRX34 into Phase 1b and Phase 2 trials in 2016 and to move a second miRNA therapeutic candidate into clinical trials. Mirna also plans to embark on a combination therapy development program. Led by President and CEO Paul Lammers, M.D., the company develops a broad pipeline of microRNA-based oncology therapeutics. Mirna completed a $41.8M Series D financing to support these programs. Mirna Therapeutics is a biopharmaceutical company based in Austin, Texas focused on developing and commercializing microRNA (miRNA) therapeutics in oncology. Its lead program is MRX34, a miRNA mimic product candidate the company plans to advance into human studies. Mirna intends to file an IND for MRX34 in 1Q 2013 and follow with a Phase 1 trial in patients with advanced or metastatic cancers with liver involvement. The company says its platform addresses systemic delivery issues seen in RNA products and uses tumor-suppressor miRNA replacement to regulate multiple oncogenic pathways. Mirna has received earlier funding from the Texas Emerging Technology Fund and the Cancer Prevention and Research Institute of Texas (CPRIT). The company describes having a robust preclinical data package and plans to use new financing to support human proof-of-concept studies of MRX34. Mirna Therapeutics is a biotechnology company focused on the development and commercialization of microRNA (miRNA) therapeutics for oncology. The company holds a substantial intellectual property portfolio containing more than 300 miRNAs, including oncology-directed candidates such as miR-34 and let-7. Mirna's approach centers on replacement of down-regulated tumor-suppressor miRNAs to block tumor growth, based on preclinical animal study results. The company plans to complete preclinical work and submit an IND by the end of 2012. Financially, Mirna has received significant state funding—a $5.0 million award from the Texas Emerging Technology Fund in 2009 and a $10.3 million commercialization award from the Cancer Prevention & Research Institute of Texas—and has now closed an additional equity financing. The most recent proceeds will be used to further development of the company's proprietary miRNA therapeutics. Mirna Therapeutics is a newly formed Austin, Tex., startup focused on developing microRNA (miRNA) drugs for cancer. The company spun out of Asuragen and took Asuragen’s miRNA intellectual property with it. Mirna initially plans to develop miRNA molecules targeting lung cancer, prostate cancer and acute myeloid leukemia. None of its drug candidates are ready for testing in humans yet. Asuragen will continue to explore miRNAs as possible diagnostic tools while Mirna focuses on therapeutic development. The spinout launched with $3 million in seed capital.

• Daktari Diagnostics

  Led · Series D · Mar 2015

  Daktari Diagnostics is developing the CarePlatform™, an immunoassay-based, highly portable point-of-care device that integrates proprietary detection technology, automated whole-blood sample preparation in a single-use disposable cartridge, and wireless cloud connectivity. The platform is designed to deliver HIV viral load counts from whole blood in under 30 minutes and aims to address diagnostic access gaps in global health settings. Daktari’s viral load test quantifies virion-associated p24 protein rather than free p24, and a preliminary study showed strong correlation with standard RT-PCR viral load values. The company reports the potential to achieve a limit of detection equivalent to 1,000 copies/mL, a clinically relevant threshold defined by WHO. Daktari is collaborating with Partners for Health and Development in Africa (PHDA) and Dr. Julius Oyugi (University of Nairobi) on the project. The work is intended to help reach patients in developing countries who are presently inaccessible to lab-based systems. Daktari Diagnostics develops portable diagnostic instruments that can be deployed in pharmacies, physicians’ offices and remote health facilities worldwide. The company’s first application on its platform, Daktari CD4, completed clinical validation studies in January 2015 and is slated for global commercialization in 2015. Daktari plans to expand its platform with Daktari Virology, which will add molecular tests for HCV and HIV in a non‑PCR format. The company is led by founder and CEO Bill Rodriguez, M.D. Daktari is based in Cambridge, USA. Financially, the company closed a $15.5M Series D in early 2015. Daktari Diagnostics develops simple, accurate, and affordable handheld HIV monitoring devices. The company focuses on delivering critical diagnostic test results to clinicians and patients across the globe. Its team of engineers, scientists, physicians, and global health experts is dedicated to creating high-performance products. Products are specifically designed for resource-poor markets. Daktari raised $7 million in a venture capital round, according to an SEC filing. Twenty-six separate investors participated in the financing. Daktari Diagnostics develops point-of-care diagnostic systems aimed at global health, focusing on simple, accurate, and affordable tests. Its system is designed to analyze small volumes of blood or other fluids for use in any type of health care setting. The company intends to use the financing to complete development and bring to market initial products for monitoring HIV patients worldwide and to expand its point-of-care product development pipeline. The underlying technology was initially developed at Massachusetts General Hospital. Daktari was founded in 2008 and is led by CEO Bill Rodriguez, M.D. The company is based in Cambridge, Mass., is currently hiring, and recently raised $10M in the reported financing. Daktari Diagnostics develops a hand-held point-of-care device that counts CD4 cells to determine immune function in HIV/AIDS patients. The device is designed to provide on-site CD4 counts, avoiding the time-consuming and costly lab-based testing common in many parts of Africa and other developing countries. The company is Cambridge, Mass.-based. Financially, Daktari disclosed an equity financing of $1.8 million in an SEC filing and has previously completed a $2.8 million round in Sept. 2009 and later added $820,000 in June. The SEC filing states the new capital came from 32 unnamed investors and names several directors and the CEO on prior securities documents. Daktari's product aims to enable faster point-of-care assessment of HIV progression by providing CD4 counts without centralized labs.

• Portola Pharmaceuticals

  Participated · Equity · Nov 2011

  Portola’s core programs include betrixaban, a once-daily oral Factor Xa inhibitor, and PRT064445, a recombinant Factor Xa inhibitor antidote. The company intends to use the financing to advance betrixaban through Phase 3 clinical development and to progress PRT064445. Portola plans to initiate a Phase 3 program to prevent venous thromboembolism (VTE) in acute medically ill patients in the first half of 2012. The company also has a global collaboration with Biogen Idec for an oral Syk inhibitor program targeting autoimmune and inflammatory diseases. Under that agreement Biogen provided an upfront $45m (comprised of $36m cash and $9m in equity). Portola is led by CEO William Lis. Portola Pharmaceuticals is a San Francisco-based drug company developing cardiovascular therapies. Its lead program is betrixaban, an anticoagulant intended to prevent blood clots and being advanced into Phase II trials. The company is also developing an antiplatelet agent, PRT060128. Portola recently took a $60 million extension to its third round of funding to see betrixaban through Phase II. It has raised about $200 million in total to date, including a prior $70 million financing. If its drugs do well in trials, the company has said it will likely head to an IPO. Portola Pharmaceuticals is a South San Francisco biotech developing treatments for blood clots and other cardiovascular conditions. Its core programs are two experimental blood thinners that target different coagulation proteins. PRT054021 is an oral Factor Xa inhibitor that showed promising signs in a recent mid-stage human trial and is slated for further clinical testing. PRT060128 prevents platelet aggregation, has completed early trials, and is expected to enter mid-stage testing by the second half of 2007. The company raised $70M in a third round dominated by late-stage and public-market investors to fund these trials. Portola also aims to go public and may pursue an IPO as early as next year, according to its CFO. Portola Pharmaceuticals is a South San Francisco biotech focused on therapies for cardiovascular and vascular diseases. The company has two drug candidates in clinical development: an oral Factor Xa inhibitor in a Phase II trial for prevention of deep vein thrombosis in patients undergoing knee surgery, and a direct-acting, orally available ADP receptor antagonist in multiple Phase I trials. Portola recently secured $20 million in debt financing to support its operations. The financing was provided by Hercules Technology Growth Capital. Portola is already backed by venture firms Abingworth, Alta Partners, ATV, Frazier Healthcare Ventures, MPM Capital, Prospect Ventures and Sutter Hill Ventures.

No current team members are available.