• Precipio Diagnostics

  Participated · Series B · Oct 2013

  Precipio Diagnostics LLC, based in New Haven, Conn., provides pathology diagnostic services to community oncologists and hospitals. Led by CEO Ilan Danieli, the company has 14 employees and has exclusively licensed several diagnostic technologies developed at Yale, which it is bringing to market. It commenced sales about a year and a half prior to the article and has produced more than 800 diagnostic reports for patients worldwide. The company raised $1.8M in Series B funding from several investors. Backers included Connecticut Innovations, which invested $750,000 through its Eli Whitney Fund and whose managing director Kevin Crowley joined Precipio’s board. Other participants were Ironwood Capital, Enhanced Capital, Kuzari Capital and individual investors; CI had previously provided a $500k loan in 2012 through the Bioscience Facilities Fund.

• New Haven Pharmaceuticals

  Participated · Series A · Nov 2012

  New Haven Pharmaceuticals is a specialty pharmaceuticals company led by CEO Patrick Fourteau that develops prescription drug products using currently marketed drugs and generally recognized as safe (GRAS) active pharmaceutical ingredients. Its portfolio includes the FDA-approved DURLAZA™. The company is advancing products that incorporate proprietary Yale University technology utilizing zinc salts, including a zinc salts product designed to lower stomach acid in patients with gastro-esophageal reflux disease (GERD) and a combination product with DURLAZA. New Haven received a $6.3M venture loan from Horizon Technology Finance Corporation and, together with Horizon’s existing venture loan, now has $10M of debt capital. The company intends to use the proceeds for working capital to support its development activities. New Haven is based in North Haven, CT. New Haven Pharmaceuticals is a specialty pharmaceutical company based in Guilford, CT that develops prescription drug products built on proprietary controlled-release technologies and on active pharmaceutical ingredients generally recognized as safe. The company focuses on reformulations and therapeutics that utilize currently marketed drugs or APIs. It holds intellectual property licensed from Yale University to support its product programs. Leadership includes Patrick P. Fourteau as President & CEO and Harry H. Penner, Jr. as Executive Chairman. New Haven recently secured financing to support near-term operations and product development. The company intends to use the financing for working capital purposes. New Haven Pharmaceuticals develops controlled‑release specialty pharmaceuticals using technology licensed from Yale University and Flamel Technologies. Its lead candidate is a once‑daily, 24‑hour antiplatelet aspirin formulated with a micro‑pump technology (used in GSK’s Coreg CR) intended to extend intestinal transit and therapeutic effect. Follow‑on applications for the platform include arthritis, foreign body reaction, and liver injury in hepatitis C patients; the company is also developing a controlled‑release zinc salt formulation for breakthrough GERD. New Haven says the formulation aims to extend aspirin’s effect to 24 hours, reduce GI toxicity and improve compliance among the roughly 33 million Americans who take aspirin regularly. The company is anticipating an NDA filing for the first product next year, with planned U.S. and European launches in 2014. Financially, an SEC filing shows New Haven has raised $6.5M of a targeted $7.7M round so far, with 17 investors participating.

No current team members are available.