Participated · Equity · Dec 2018

Viracta Therapeutics entered into a loan and security agreement with Silicon Valley Bank and Oxford Finance for up to $50.0 million. The new credit facility supersedes a prior $15.0 million loan and refinanced an existing $5.0 million debt balance. Under the agreement, $45.0 million remains available in two additional tranches of $20.0 million and $25.0 million. The facility is structured as a loan and security agreement provided by SVB and Oxford Finance. The company is under no obligation to draw on the remaining tranches. No operating metrics or additional financial details were disclosed in the announcement. Viracta Therapeutics, Inc. announced it received approximately $65 million in funding. The company closed the transaction on February 24, 2021. It raised $64,999,994 pursuant to Regulation D from 26 investors. The articles describe the backers only as a group of investors and do not name any participants. The reporting includes no operating metrics, product details, future plans, prior financings, founding year, or location. Beyond this Regulation D raise, the company’s broader financial situation is not disclosed in the articles. Viracta Therapeutics is a San Diego, CA–based precision oncology company targeting virus-associated malignancies. Led by President and CEO Ivor Royston, the company’s proprietary lead molecule, nanatinostat, is being evaluated orally in combination with valganciclovir in a Phase 2 trial for Epstein‑Barr virus–positive lymphomas. Viracta describes this as a Kick and Kill approach and is pursuing its application in other EBV‑associated malignancies such as nasopharyngeal carcinoma and other virus-related cancers. The company closed a Series D financing of an undisclosed amount led by Taiwania Capital Management with participation from existing investors. In conjunction with the financing, Michael Huang, Managing Partner at Taiwania, joined Viracta’s Board of Directors. Proceeds are expected to be used to complete the Phase 2 study, support subsequent initiation of registration studies and for general corporate purposes. Viracta Therapeutics is a clinical-stage drug development company advancing medicines based on a 'kick & kill' approach for viral-associated cancers. Its lead candidate, nanatinostat (VRx-3996), is being developed in combination with an antiviral as the first targeted, orally administered therapy for EBV-associated malignancies. Viracta is conducting a Phase 1b/2 clinical trial for EBV-associated lymphomas in the US and Brazil and plans to initiate a trial for EBV-associated solid tumors in the coming year. The company entered an exclusive collaboration and license agreement with Shenzhen Salubris to develop and commercialize the approach in China. Under the agreement Viracta received an equity investment and is eligible to receive up to $58 million in pre-commercial milestones, plus sales-level-triggered commercial milestones and tiered royalties. The partnership targets EBV-driven cancers that disproportionately affect patients in Southern China, including nasopharyngeal carcinoma, gastric carcinoma, and NK/T cell lymphomas. Viracta Therapeutics is a San Diego-based clinical-stage drug development company led by CEO Ivor Royston, M.D. The company advances medicines based on a proprietary viral gene activation therapeutic approach for viral-associated cancers and other serious diseases. Its lead candidate, VRx-3996, is a Class 1 histone deacetylase inhibitor (HDACi) in Phase 2 development for Epstein-Barr virus (EBV)-associated malignancies. Viracta will use the proceeds from the financing to advance VRx-3996 into Phase 2 clinical studies. The company agreed to an exclusive license of VRx-3996 to NantKwest for use in combination with NantKwest’s natural killer (NK) cell therapy platforms. NantKwest intends to transition VRx-3996 into human clinical trials combined with its aNK, haNK and taNK platforms. As part of the transaction, NantKwest Chairman and CEO Patrick Soon-Shiong will join Viracta’s Board as Vice Chairman.

Participated · Series A · Mar 2015

PerceptiMed builds hardware and software that automates medication verification for retail pharmacies, hospitals, nursing homes and home health. Its flagship identRx uses machine vision to read manufacturer imprints on all sides of pills and the company claims a 99.9% error‑detection rate. The product line also includes a smaller MedPass unit for long‑term care with a locking device tied to patient RFID tags, a remote version of the system, and ScripClip tags for verified prescription bags. The platform integrates with pharmacy management systems and includes analytics to analyze near misses and identify root causes of errors. PerceptiMed was founded by CEO and co‑founder Dr. Alan Jacobs and co‑founder/COO Jenifer, with Jacobs developing the technology over two years in his garage. The company has begun work with national retail pharmacies and is pursuing expansion into the home‑health market while hiring across engineering, sales and marketing.

Participated · Series C · Dec 2014

Naurex is a clinical-stage biopharmaceutical company based in Evanston, Ill., that has built a platform to discover drugs that enhance synaptic plasticity via selective modulation of the NMDA receptor. Its lead molecule, GLYX-13, has demonstrated rapid, robust and sustained antidepressant effects in multiple Phase 2 studies and was well-tolerated in clinical proof-of-concept studies. Naurex is proceeding with a GLYX-13 Phase 3 program after completing an end-of-Phase 2 meeting with the FDA and expects Phase 3 to begin in 2015. The company’s next-generation oral candidate, NRX-1074, is in Phase 2 for major depressive disorder and has shown promising preclinical efficacy and early clinical tolerability. Naurex applies its NMDA-focused platform to generate a pipeline of subtype-selective modulators aimed at a range of CNS indications, including depression, traumatic brain injury and neuropathic pain. The company planned to use financing proceeds to support ongoing clinical development of GLYX-13, NRX-1074 and related development activities across its pipeline. Naurex is a clinical-stage company based in Evanston, Illinois, developing drugs that modulate the NMDA receptor for psychiatry and neurology. Its lead program is GLYX-13, an NMDA receptor modulator in development for the treatment of depression. The company is also advancing its second-generation compound NRX-1074 into Phase I and II clinical trials in depression. Naurex plans to further develop its second- and third-generation programs for other CNS disorders. Leadership includes CEO Derek A. Small and executive chairman Bill Gantz, and the company’s programs are based on work by founder Dr. Joseph R. Moskal and colleagues at Northwestern University. Financially, Naurex completed a $38M Series B financing to fund these development programs. Naurex, based in Evanston, IL, is a clinical-stage company focused on therapeutics for psychiatry and neurology. Its lead compound is GLYX-13, a glycine-site functional partial agonist (GFPA) selective modulator of the NMDA receptor. GLYX-13 showed promising antidepressant activity and excellent safety in preclinical studies, results that were confirmed in a Phase I clinical trial. The company plans a Phase II trial targeting patients not achieving an adequate response to current antidepressants. Naurex is also advancing a second-generation GFPA program with multiple molecules showing preclinical proof of concept. The company is led by CEO Derek A. Small and has made recent board appointments including Wilbur (Bill) Gantz as chairman, with Terry Gould and Kenneth Widder joining the board.

Participated · Series C · Apr 2014

Transcend Medical develops the CyPass Micro‑Stent, a micro‑invasive glaucoma implant designed to reduce intraocular pressure by enhancing aqueous outflow to the suprachoroidal space. The CyPass Micro‑Stent has received the CE Mark and is currently for investigational use in the U.S. The company closed a $22M Series C to fund its clinical and regulatory efforts. Transcend intends to use the proceeds to complete the U.S.-based, randomized, controlled COMPASS pivotal trial evaluating the CyPass Micro‑Stent, with the trial scheduled to complete in the second quarter of 2015. The company is led by President and CEO Brian Walsh. Previously, the company held a second close of a $51M Series B in 2011. Transcend Medical is a Menlo Park, Calif.-based ophthalmic device company focused on minimally invasive glaucoma therapies. Its core product is the CyPass Micro-Stent, a tiny implant placed in the eye through a minimally invasive surgical procedure designed to reduce or eliminate the need for glaucoma medications while providing continuous control of intraocular pressure. The company held the second close of its Series B financing, bringing the total raised in the round to $51M. Investors in the round include new backer Investor Growth Capital and existing shareholders Canaan Partners, Finistere Ventures, HLM Venture Partners, Kaiser Permanente Ventures, Latterell Venture Partners, Morgenthaler Ventures, Split Rock Partners and Technology Partners. Transcend plans to use the capital to develop additional infrastructure and resources for a U.S. study of its micro-stent technology. Led by President and CEO Brian Walsh, the company spun out from ForSight Labs, LLC, an incubator focused on ophthalmic innovations.

Participated · Series B · Mar 2012

HemaQuest is focused on developing small molecule therapeutics to treat hemoglobin disorders, advancing an orally administered lead candidate, HQK-1001, an SCFAD. HQK-1001 has been assessed in multiple clinical trials in sickle cell disease and beta thalassemia and prior studies established a safe, well-tolerated dose that induces fetal hemoglobin. Induction of fetal hemoglobin production in red blood cells has been shown to reduce the frequency of pain crises and hospitalizations in patients with sickle cell disease. The company closed a $13M extension of its Series B financing to fund a randomized, double-blind, placebo-controlled Phase 2b clinical study of HQK-1001 in sickle cell disease. Management says this financing, combined with existing cash balances, is sufficient to complete the Phase 2b trial and fund operations through early 2014. HemaQuest is led by CEO John P. Longenecker, Ph.D., and is based in San Diego and Seattle. HemaQuest Pharmaceuticals is a clinical-stage biotech based in Seattle, WA, focused on small-molecule therapeutics targeting sickle cell disease, beta thalassemia and EBV-related cancers. Its pipeline is led by two clinical-stage candidates, HQK-1001 and HQK-1004. The company closed an additional $4M into its Series B, bringing the total Series B financing to $16M. New investor Latterell Venture Partners joined existing backers Aberdare Ventures, De Novo Ventures, Forward Ventures and Lilly Ventures in the round. James Woody, MD, PhD of Latterell Venture Partners has joined HemaQuest’s Board of Directors in conjunction with the financing. The proceeds are intended to help advance HQK-1001 and HQK-1004 through Phase 2b clinical trials. HemaQuest Pharmaceuticals is a Seattle-based biotechnology company developing compounds to treat sickle cell disease, beta thalassemia and EBV-related hematologic malignancies. Its two lead candidates are HQK-1001, an orally administered small molecule for the two most common hemoglobin disorders, and HQK-1004, a therapy targeting virus-associated hematologic cancers. HQK-1001 has advanced through Phase 1 and is undergoing proof-of-concept clinical studies in patients with sickle cell disease and beta thalassemia. HQK-1004 is slated to begin testing in a corporate-sponsored Phase 2 clinical trial in the near future. The company recently closed a $12M Series B financing to help advance both lead products into pre-pivotal Phase 2 trials. The investor syndicate includes Aberdare Ventures, De Novo Ventures, Forward Ventures and Lilly Ventures.