Participated · Series B · Jul 2021

Onera Health provides end-to-end polysomnography-as-a-service that enables clinicians to conduct clinical-grade sleep studies in patients' homes or in labs. The company has secured regulatory clearance from the U.S. FDA for its current system. Clinicians order a PSG study, Onera ships four wireless sensors (forehead, upper chest, abdominal area and lower leg) to the patient, then processes the returned hardware and cloud data to produce a report for clinician review. Onera currently serves the Benelux and DACH regions. The company plans to expedite regulatory clearance for a second-generation PSG system in the U.S. and Europe and will continue investing in R&D, customer success, and geographic expansion. Since founding in 2017, Onera has raised €55 million in total and recently added €30 million in a Series C. Onera Health develops sleep diagnostic and remote monitoring solutions, including an innovative polysomnography (PSG) system that recently obtained CE mark. Led by founder/CTO/interim CEO Ruben de Francisco, the company offers diagnostics and remote monitoring services aimed at people with sleep-related ailments and other chronic conditions. Onera recently relocated its headquarters to the Brainport region in Eindhoven while maintaining commercial operations in the United States. The company intends to use new funding to execute clinical studies and further commercialize its sleep diagnostics and monitoring products in Europe and the U.S. Its products are positioned to improve patient health and quality of life by enabling remote monitoring across multiple medical fields. Onera Health is a Palo Alto, CA‑based provider of sleep diagnostic solutions and services and a spin‑off of imec. Its core product uses two simple patches to replace sensors normally attached to the face, scalp, chest and limbs, aiming to deliver test results that match the accuracy of conventional in‑lab sleep clinics. The system enables patients to be monitored at home or in a medical setting suggested by their doctor. Onera has R&D offices in the Netherlands and plans to launch pilot programs with leaders in sleep medicine, including pulmonologists, neurologists, psychiatrists, ENTs, pediatricians and the military. Financially, the company announced it raised more than $9.3M in a Series A financing. The team includes CEO & co‑founder Raphael Michel, CTO & co‑founder Ruben de Francisco, CMO Hartmut Schneider, and other named co‑founders.

Led · Preferred · May 2016

Arrivo BioVentures is a Morrisville, NC-based biopharmaceutical company focused on developing biologics and small molecules. Its operating model searches for potential products that offer improvements in patient care across multiple therapeutic areas. Lead programs include SP-624, a small molecule that selectively activates the SIRT6 enzyme being developed as a first-in-class treatment for major depressive disorder, and RABI-767, a small molecule pancreatic lipase inhibitor for preventing progression to severe acute pancreatitis. SP-624 targets a novel epigenetic mechanism known to modulate gene expression, metabolism and DNA repair. The company raised $45M in a Series B that brought total funding to $100M and intends to use proceeds to advance SP-624 through completion of a Phase 2b/3 trial and to complete a Phase 2 proof-of-concept study of RABI-767. The company is led by CEO Steve Butts. Arrivo BioVentures is a privately held drug development company based in Morrisville, N.C., on the edge of Research Triangle Park. The firm focuses on identifying and advancing biologics and small molecules, sourcing candidates in or ready for early human clinical trials. Management plans to develop four to six new drug candidates over the next several years and to in-license and initiate projects for clinical proof-of-concept and the subsequent valuation inflection point. The company closed a preferred financing with $49 million in committed capital to fund those development projects. Committed capital will be accessed over the next five years as projects are identified and initiated. The founding team includes Steve Butts, Bill Wofford, Dr. Michael Ackermann and Dr. Jed Black, who will serve as a scientific advisor; the team cites prior exits at Aerial BioPharma, Neuronex and Addrenex as evidence of its development track record.