Participated · Series D · Aug 2024

Moximed's core product is the MISHA Knee System, the first implantable shock absorber designed to reduce about 30% of peak force on the knee with each walking step to relieve pain and preserve function in patients with medial knee osteoarthritis. The implant is placed during an outpatient procedure and has been shown to alleviate pain, improve function, and in some patients delay the need for total knee replacement. The company emphasizes a decade-plus of clinical research and development behind the technology and positions MISHA for patients with mild-to-moderate OA who seek joint-preserving options. Moximed intends to use recent financing proceeds to accelerate U.S. commercialization, expand commercial infrastructure, and broaden patient and surgeon access. The company highlights growing market opportunity given osteoarthritis prevalence in the U.S. and the product's clinical value proposition. Moximed is based in Fremont, California. Moximed, based in Fremont, California, commercializes the Misha knee system — described as the world’s first implantable shock absorber for the knee. The Misha device is designed for implantation during an outpatient procedure to alleviate pain, improve function, enable early weight bearing, and potentially delay total knee replacement for patients with mild-to-moderate osteoarthritis. The company says the system can preserve the native knee and address a treatment gap between conservative care and joint replacement. Moximed will use proceeds from the financing to pursue regulatory approvals and to establish commercial infrastructure for Misha. Results from the company’s pivotal study are slated for presentation on Sept. 22, 2020 at the Orthopedic Summit (OSET) in Boston. The article reports a $40M financing and additional debt financing support from Runway Growth Capital. Moximed develops unicompartmental shock-absorbing implants (KineSpring and Atlas systems) that absorb excess joint load without bone cutting or bone removal. The company reports treatment durability established to nearly nine years on initial patients, and the Atlas System is CE-marked in Europe. Moximed has fully enrolled its FDA pivotal clinical study of the KineSpring System and is currently enrolling a US IDE study of the Atlas System. The Atlas System is designed to provide approximately 30 lbs of unloading, is placed subcutaneously, and aims to preserve future treatment options. Moximed intends to use recent financing to complete FDA approval and support early US commercialization amid strong patient and surgeon interest. The company is backed by venture investors including NEA, Morgenthaler Ventures, Gilde Healthcare, GBS Venture Partners, Vertex Healthcare, Advent Life Sciences, and Future Fund. Moximed focuses on minimally invasive, joint‑preserving solutions for patients with knee osteoarthritis. Its core product is the KineSpring System, a subcutaneous joint‑unloading implant intended for pre‑arthroplasty patients who want to remain active. The KineSpring System is CE marked, available in major European markets, investigational in the U.S., and has been implanted in over 1,000 cases worldwide. The company announced a financing to support efforts to obtain FDA approval for KineSpring and to grow commercial sales in Europe. Moximed is backed by venture investors including Vertex Venture Holdings, New Enterprise Associates, Gilde Healthcare Partners, Morgenthaler Ventures, and GBS Venture Partners. Management cites clinical evidence from its GOAL Study and strong patient interest in joint‑preserving treatments.

Participated · Series B · Jan 2016

Elastagen is a Sidney, Australia-based clinical-stage medical company developing products based on a proprietary recombinant human tropoelastin platform technology. The company applies that platform to three main product areas: atrophic scars (including stretch marks and acne scars), derm-aesthetics, and tissue repair. Its lead programs include an intradermal tropoelastin implant to reduce the appearance of stretch marks, a skin-rejuvenation injectable to improve the skin’s physical properties, and a tropoelastin product to support repair of full-thickness skin wounds. Elastagen is set to initiate a clinical trial to evaluate the safety and efficacy of the intradermal implant for stretch marks. The wound-repair program has had support from the Wellcome Trust and the NSW Department of Health Medical Device Fund. The company closed an A$13M Series B to advance its lead products through clinical and commercial milestones.

Participated · Series B · Sep 2014

Ivantis develops the Hydrus Microstent, a microinvasive glaucoma surgery device placed via a minimally invasive microsurgical procedure to reestablish the eye's natural outflow pathway. The device is being used internationally in both cataract surgeries and standalone glaucoma procedures. A US pivotal trial is evaluating Hydrus in glaucoma patients undergoing cataract surgery. The company is led by President and CEO Dave Van Meter. Ivantis closed a $25M Series C and intends to use the proceeds to fund US commercialization of the Hydrus Microstent upon its anticipated 2018 FDA approval. The company is based in Irvine, California. Ivantis develops the Hydrus Microstent, a tiny implant placed via a minimally invasive microsurgical procedure to reduce intraocular pressure in glaucoma patients. The Hydrus device creates a large opening through the trabecular meshwork and dilates and scaffolds Schlemm’s canal to restore natural outflow. Hydrus is being evaluated in multiple ongoing clinical trials, including a U.S. pivotal approval trial that is assessing use during cataract surgery; the device is used internationally in both cataract and standalone glaucoma surgery. The company says over 20% of patients undergoing cataract surgery have concurrent glaucoma, representing a significant potential patient population. Ivantis is privately held, was established in 2007, and is based in Irvine, California. The company announced a Series B financing that it says will support its clinical and operational goals and is expected to take the company through U.S. approval. Ivantis's core product is the Hydrus Microstent, a tiny implant placed via a minimally invasive microsurgical procedure to reestablish natural aqueous outflow and lower eye pressure. The device uses a two-fold mechanism: creating an opening through the trabecular meshwork and dilating/scaffolding Schlemm’s canal. Ivantis is conducting three large ongoing clinical trials, including a US pivotal trial that recently received FDA approval to expand from its initial safety phase. The company presented two-year international trial data for Hydrus at the American Academy of Ophthalmology. The funds from the Series B will support completion of these trials and could take the company through US approval. The article notes potential market scale: roughly 700,000 US cataract patients annually may be candidates for the investigational treatment, and global cataract surgery volumes are estimated by WHO to reach 32 million by 2020. Ivantis designs, develops and commercializes the Hydrus Microstent, a tiny implant placed via minimally invasive microsurgery to reestablish natural outflow and lower intraocular pressure in glaucoma patients. The Hydrus relies on a two‑fold mechanism: creating an opening through the trabecular meshwork and dilating/scaffolding Schlemm’s canal. The device is used both in cataract surgery and standalone glaucoma procedures internationally, and the company recently received approval to market Hydrus in Australia. Ivantis plans to use the new funds to support three multinational randomized clinical trials, including its U.S. pivotal trial, and to establish activity in the Asia Pacific region. Investors named in the article include New Enterprise Associates, Delphi Ventures, Ascension Health Ventures, MemorialCare Innovation Fund and new investor EDBI. Ivantis was established in 2007 and is headquartered in Irvine, Calif. Ivantis is a privately held ophthalmic device company (established in 2007 in Irvine, Calif.) that develops the Hydrus Microstent to treat glaucoma. The Hydrus Microstent, roughly the size of an eyelash, is implanted via a minimally invasive microsurgical procedure to reduce eye pressure by creating a large opening through the trabecular meshwork and dilating and scaffolding Schlemm’s canal. In the U.S. approval trial the device is being evaluated in glaucoma patients undergoing cataract surgery, while internationally it is used both in cataract surgery and standalone glaucoma surgery. Ivantis has surpassed 50% enrollment in the HYDRUS III international randomized multi-center trial, the first head-to-head comparison of Hydrus versus the iStent. The company completed a $27 million first closing of its Series B led by Ascension Health Ventures to support four randomized, prospective, controlled multi-center trials around the world, including the ongoing U.S. trial. Investors include returning backers New Enterprise Associates and Delphi Ventures, and new investors such as MemorialCare Innovation Fund. Ivantis highlights the potential socioeconomic impact of reducing reliance on glaucoma medications, citing U.S. medication costs near $3 billion annually and roughly 50% patient noncompliance.

Participated · Series C · Apr 2014

Spinifex Pharmaceuticals is a biotechnology company based in Melbourne, Australia, and Stamford, Connecticut, developing drug candidates for the treatment and management of pain. Its lead candidate is EMA401, an oral angiotensin II type 2 (AT2) receptor antagonist being developed as a chronic pain treatment without CNS side effects. EMA401 produced positive Phase 2 results in postherpetic neuralgia (PHN). The company plans a further dose‑ranging Phase 2 trial in PHN studying efficacy over a 12‑week timeframe as would be required by the FDA for eventual Phase 3. Spinifex also intends to establish clinical proof‑of‑concept for EMA401 in neuropathic and inflammatory pain conditions such as osteoarthritis, chemotherapy‑induced neuropathy and peripheral diabetic neuropathy. Established in 2005 and led by CEO Tom McCarthy, the company raised $45M in Series C financing to advance development of EMA401. Spinifex Pharmaceuticals is a Melbourne-based company developing new drug candidates for the treatment and management of pain. Its lead product, EMA401, is under development as a potential oral treatment for neuropathic pain and related symptoms without central nervous system side effects. The company intends to use recently raised funds to develop EMA401 and to expand its Phase 2 clinical trial program. Spinifex plans to add two indications to the Phase 2 program: pain and hypersensitivity in peripheral nerve injury patients and in cancer chemotherapy patients. Founded in 2005 and led by CEO Tom McCarthy, the company announced an additional AU$6.25m in an expanded Series B after previously announcing AU$12m from the same syndicate. Investors in the expansion include GBS Venture Partners, Brandon Capital Partners, Uniseed Management and UniQuest. Spinifex Pharmaceuticals, founded in 2005 and based in Melbourne, develops new drug candidates for the treatment and management of pain. Its lead candidate, EMA401, is in Phase I clinical trials under an IND with the U.S. FDA, with initial results expected at the end of 2008 or early 2009. The company's principal technology stems from a discovery by University of Queensland researchers led by Professor Maree Smith and targets neuropathic and inflammatory pain. Management is targeting a Phase II trial for EMA401 in late 2009 and aims to deepen the clinical pipeline while moving EMA401 toward commercialization. Spinifex has secured A$12 million in venture funding in two tranches (A$6m received) to fund development through Phase II. The clinical program is focused on an area of high unmet need within a pain market projected to be worth US$75 billion annually by 2010.

Participated · Series A · Apr 2014

Neurovance is a clinical-stage, privately held neuroscience-focused company headquartered in Cambridge, Massachusetts, developing EB-1020 SR, a non-stimulant candidate for all subtypes of adult ADHD. Interim phase 2a pilot data disclosed a statistically significant 21-point improvement on the ADHD-Rating Scale-IV after 4 weeks (p<0.0001), with final data and secondary assessments scheduled for presentation at the Society for Biological Psychiatry. The company plans to initiate a human abuse liability (HAL) study to evaluate EB-1020's abuse potential versus standard stimulants and aims to expand development to adolescents and children after demonstrating safety and efficacy in adults. Management is led by co-founder and CEO Anthony A. McKinney and other experienced neuroscience drug developers. Neurovance says EB-1020 may offer stimulant-like efficacy with lower abuse potential, addressing a large ADHD market dominated by stimulants. Neurovance was spun out of Euthymics Bioscience to advance EB-1020, a norepinephrine- and dopamine-preferring reuptake inhibitor intended for adult ADHD. The company recently completed a Phase 1 trial in healthy subjects in which EB-1020 was well tolerated and demonstrated a wide therapeutic index. EB-1020’s pharmacology combines potent NE reuptake inhibition with moderate DA inhibition and very modest 5-HT inhibition, suggesting potential symptomatic and comorbidity benefits with low abuse liability. Neurovance also holds a portfolio of research-stage reuptake inhibitors for other CNS disorders. Management includes team members who were involved in development of Strattera, positioning the company to leverage prior ADHD drug-development experience. The company is headquartered in Cambridge, Massachusetts, and has secured new financing to advance clinical development.