Participated · Series B · Sep 2021

Cryosa is a medical device company developing breakthrough, minimally invasive therapies for obstructive sleep apnea that do not require implants or daily patient compliance. The company is advancing a device intended to treat the root cause of OSA and is currently conducting first-in-human clinical trials. Leadership includes founder and chief medical officer Dr. Donald Gonzales and president and CEO Mark Christopherson. The recent financing will fund continuation of first-in-human work and expansion into the next phase of safety and efficacy clinical trials. Cryosa is led by a team of entrepreneurs, engineers, and professionals from medical device startups and large med‑tech companies and is based in Minnesota’s Medical Alley. The company notes an estimated 24 million people in the U.S. and 425 million globally have moderate to severe OSA. Cryosa develops breakthrough, minimally invasive and permanent medical-device therapies aimed at treating obstructive sleep apnea by selectively reducing adipose tissue in the upper airway. The company has completed extensive pre-clinical testing evaluating safety and efficacy. Cryosa intends to use its latest financing to initiate first-in-human clinical trials. The team includes founder and CMO Dr. Donald Gonzales and president/CEO Mark Christopherson, both with prior exits and deep medical device experience. The company is based in Medical Alley, Minnesota and emphasizes an experienced mix of startup entrepreneurs and large med-tech engineers. OSA affects roughly 22 million Americans, and Cryosa positions its therapy as addressing a large unmet need versus more invasive surgical options.

Led · Convertible Note · Aug 2020

LensGen, based in Irvine, California, is a clinical-stage ophthalmic medical device company. It is focused on restoring youthful vision to cataract and presbyopia patients via its Juvene® fluid-optic intraocular lens. The company is led by CEO and founder Ramgopal Rao. LensGen held an initial closing of $10M of a $20M bridge financing, led by Hoya Corporate Venture Capital Group. That bridge is part of a larger Series B planned in early 2021 intended to fund the company through approval of the Juvene IOL pivotal FDA study. The company also added James (Jim) Mazzo to its board of directors. LensGen, based in Irvine, Calif., develops a modular, fluid-optic accommodating intraocular lens. Its Juvene™ accommodating IOL is designed to permanently restore clear, continuous vision at all distances for patients with cataracts and presbyopia. The lens is implanted using current surgical techniques for traditional intraocular lenses and provides accommodation by mimicking the eye’s natural accommodation process, changing shape and adjusting focus like a camera autofocus. Led by CEO and founder Ramgopal Rao, LensGen is advancing the device through development. The company closed a $21m Series A financing (with an option to expand by an additional $5m) led by HOYA Group’s corporate venture investment arm, with participation from Relativity Healthcare Partners. LensGen is using the funds to continue development of the lens.