Participated · Series C · Aug 2017

Colorescience develops and markets mineral-based skincare and sun-protection products that are backed by clinical validation and deliver broad-spectrum protection. Its line is positioned as premium and science-driven, targeting both consumers and professional practitioners. The company has built multi-channel distribution that spans dermatology offices, med-spas, direct-to-consumer sales, and major e-commerce platforms. Management emphasizes strong consumer advocacy and differentiation through science and innovation. With new backing, the brand plans to expand awareness, deepen penetration in existing channels, and broaden its product portfolio while maintaining its clinical focus. Although financial figures were not disclosed, the company’s momentum and differentiated product set were highlighted as key investment drivers.

Participated · Series B · Sep 2015

Proteostasis Therapeutics, based in Cambridge, MA, develops disease-modifying therapeutics that address defects in protein processing. Its lead asset is a fully owned class of CFTR amplifiers discovered via the company’s proprietary Disease-Relevant Translation (DRT™) platform. In preclinical studies the CFTR amplifier was effective across CFTR mutation classes and is intended to enhance the effect of known CFTR modulators such as potentiators and correctors. The company plans to develop a broad-acting combination therapy to serve CF patients with most mutations. PTI has collaborations with Biogen to pursue neurodegenerative disease candidates and with Astellas to research therapies targeting the unfolded protein response pathway. The company announced a financing to advance its lead product into human clinical studies and to expand its product portfolio.

Participated · Equity · Jun 2014

Senseonics develops an implantable continuous glucose monitoring system for people with diabetes. The Senseonics Continuous Glucose Monitoring System includes a miniaturized sensor, transmitter and a mobile medical application and is based on proprietary fluorescence sensing technology. The sensor is designed to be inserted into the subcutaneous space of the upper arm and to communicate with the transmitter to wirelessly transmit glucose levels to a smartphone. After insertion the sensor functions automatically and continuously. Led by CEO Tim Goodnow, the Germantown, MD-based company said proceeds from financing will be used to fund ongoing product development. The company recently completed both a $20M private equity financing and a $10M senior secured term loan. Senseonics is a Germantown, MD-based medical device company focused on developing and commercializing a fully implantable, long-term continuous glucose monitoring (CGM) system. Its CGM system comprises a miniaturized sensor, a transmitter and a mobile medical application and uses proprietary fluorescence sensing technology. The sensor is designed for subcutaneous insertion in the upper arm, communicates wirelessly with the transmitter and sends glucose levels to a smartphone, functioning automatically and continuously after insertion. The company raised an additional $20M in equity financing from investors including Anthem Capital, Delphi Ventures, Greenspring Associates, Healthcare Ventures and New Enterprise Associates. Senseonics intends to use the proceeds to complete pivotal trials in Europe, obtain CE mark and initiate IDE trials in the United States. Tim Goodnow is CEO and President, and the company appointed Mirasol Panlilio as vice president of global sales and marketing. Sensors for Medicine and Science develops a fully implantable, long-term continuous glucose monitoring system that includes a miniaturized sensor and reader. The sensor is inserted into the subcutaneous space and is inductively powered and remotely interrogated, requiring no battery and no wires connecting the sensor to an external display reader. After insertion, the sensor is designed to function noninvasively, automatically, and continuously. The company intends to use the Series D proceeds to fund the next product development phase and to advance worldwide clinical development programs and regulatory approvals. The company is led by President and CEO Tim Goodnow, PhD, and is based in Germantown, Maryland. Financially, the company completed a $54.1M Series D financing to support these efforts.

Participated · Series C · Oct 2013

PathoGenetix is a Woburn, MA-based provider of rapid bacterial identification solutions. The company develops an automated RESOLUTION System that includes the instrument, bioinformatics software and database, and pathogen-specific assays. Its core technology is Genome Sequence Scanning (GSS™), which PathoGenetix intends to continue developing with new funding. PathoGenetix raised $10M in a Series C financing to support that development. Led by CEO Ann Merrifield, the company plans to commercially launch the RESOLUTION System in 2014 for food safety testing and foodborne illness outbreak investigations. PathoGenetix develops an automated Genome Sequence Scanning (GSS) system for rapid bacterial strain identification. GSS uses a single reagent set to generate genomic barcodes from bacterial DNA and can identify thousands of strains in a single test in about three hours. The technology extracts genomic barcodes as DNA flows through a microfluidic chip at 150 million base pairs per second and can scan complex clinical specimens faster and at lower cost than current diagnostics. Applications include microbiome research, clinical diagnostics, antibiotic development, food and pharmaceutical contamination detection, and biothreat detection. PathoGenetix secured $11.5 million in Series B funding (two closings: $4.0M and $7.5M) to support development and commercialization. The company plans an initial commercial introduction of GSS into the research market in late 2012. GSS development was initially supported with more than $50 million from the U.S. Departments of Defense and Homeland Security. PathoGenetiX is developing an automated system that rapidly identifies pathogenic bacterial strains using its proprietary Genome Sequence Scanning (GSS) technology. The GSS platform can cost-effectively identify thousands of strains in a single test from complex samples in about three hours using a single reagent set and a microfluidic chip that processes DNA at high speed. The company plans initial commercial introduction into the research market in 2012 and aims to advance applications in microbiome research, food and product safety testing, and clinical infectious-disease diagnostics. Development of the technology was initially supported with more than $50 million from the U.S. Departments of Defense and Homeland Security. PathoGenetiX has demonstrated capabilities across clinical, environmental, and food samples using commercial prototypes of its instrumentation systems. The company has secured outside financing to complete development of its first commercial systems.

Participated · Series B · Mar 2013

Theraclone Sciences uses its I-STAR™ technology platform to rapidly screen and identify rare, therapeutically relevant human monoclonal antibodies from immunologically relevant donors. The company has discovery collaborations with Pfizer, Zenyaku Kogyo and the International AIDS Vaccine Research Initiative. Theraclone has two proprietary antibody programs in clinical development targeting pandemic/seasonal influenza and human cytomegalovirus (HCMV). Proceeds from the recent financing will advance those clinical programs and support ongoing discovery projects using the I-STAR platform. Management cites progress in lead development programs and the Pfizer collaboration as indicators of R&D strength. The company is headquartered in Seattle. Theraclone Sciences develops novel therapeutic human monoclonal antibodies for infectious disease and cancer using its I-STAR™ discovery platform. The platform is designed to rapidly screen and identify rare, potent and therapeutically relevant human antibodies from immunologically relevant donors. Theraclone isolates candidates that can be scaled for industrial production and that the company says may offer safety and broad patient relevance. The company is privately held and has existing venture backers including ARCH Venture Partners, Canaan Partners, MPM Capital, Healthcare Ventures, Amgen Ventures and Alexandria Real Estate Equities. Recent milestones cited by management include a discovery collaboration with Pfizer and the anticipated near-term initiation of Theraclone’s first clinical trial. Proceeds from the latest financing will support ongoing discovery projects and advance clinical programs.