Participated · Series A · Feb 2023

CodaMetrix offers an AI-driven platform for multi-specialty medical coding with real-time audit capabilities, seamless EHR integration, and a patient-centric longitudinal view of records. Built in partnership with provider organizations, the platform is designed to continuously improve AI learning through feedback loops. It is deployed at more than a dozen provider organizations representing over 200 hospitals and 50,000 providers. Providers using CodaMetrix report a 60% reduction in coding costs, a 70% reduction in claims denials, and a five-week acceleration in time to cash, along with improved provider satisfaction, quality, and compliance. The company targets a roughly $20B annual market for multi-specialty coding and is recognized by KLAS Research as No. 1 in the “Reduce Cost of Care” category. CodaMetrix plans to use new funding to further advance its AI-powered solutions to improve coding quality, produce clinically comprehensive datasets, reduce overall cost of care, and alleviate administrative burden on providers. CodaMetrix provides an AI-powered SaaS platform to support healthcare revenue cycle management and medical coding. Its platform combines machine learning, deep learning, and natural language processing to translate clinical notes automatically and accurately into billing and diagnostic codes, reducing human coding workload. The AI continuously learns from clinical evidence in electronic health records to improve coding efficiency and quality. CodaMetrix is currently partnered with 10 health systems and major academic institutions, including Mass General Brigham, University of Colorado Medicine, Yale Medicine, and Henry Ford Health Systems. It closed a $55M Series A in February 2023 and plans to use the funds to accelerate go-to-market with major provider organizations and health systems. The company is led by President and CEO Hamid Tabatabaie.

Participated · Series B · Jan 2022

DexCare provides a patient demand and care-access platform that forecasts demand, merchandizes care across digital channels, and optimizes scheduling to better utilize clinician hours. The platform simplifies large legacy datasets to resolve workforce constraints and coordinate scheduling across services and modalities. DexCare reports serving more than 57 million patients across all 50 states and partners with leading U.S. health systems including Kaiser Permanente, Providence, and Community Health Network. The company says it boosted new-patient bookings 30 percent, diverted 350,000 emergency-room hours, and increased downstream revenue eightfold during a recent period of financial pressure. DexCare plans to use new capital to advance the platform and accelerate market expansion, modernizing data-and-platform infrastructure to improve digital-care access and outcomes. Leadership describes the offering as mission-critical infrastructure to better match patients to the right provider, time, and setting while protecting limited clinician work hours. DexCare is a Platform-as-a-Service (PaaS) for health systems that intelligently orchestrates digital demand and health system capacity across all lines of care. It provides an enterprise-grade real-time demand aggregation and appointment booking platform supporting video, phone, in-person, on-demand and scheduled modalities and service lines including same-day, urgent, primary and specialty care. Customers and partners include Kaiser Permanente, Providence, Mass General Brigham, CHS, Houston Methodist and other leading U.S. health systems. DexCare reports that service lines using its platform have attracted 30% more new patients, captured 5x downstream revenue, generated 22% per patient encounter in cost savings, and delivered a net promoter score greater than 90. The company plans to use new funding to accelerate platform development and go-to-market progress, expand into additional service lines and care modalities, and invest in product, technology, customer experience and recruiting. Financially, DexCare has closed two oversubscribed funding rounds in less than a year, totaling $71M to-date, including the recent $50M Series B. DexCare provides a Platform-as-a-Service that unifies consumer demand, health system resources and applications to create scalable, digitally enabled patient experiences. The product was developed inside Providence as the platform for its ambulatory care business and has been driving patient acquisition, navigation and capacity optimization since 2016. DexCare has delivered digitally enabled patients to Providence, of which 30% are new to the system and 73% are commercially insured. The platform aims to increase revenue from digital-first patients while minimizing new patient acquisition costs and to make digitally enabled care more discoverable and actionable. Leadership includes health-technology veterans Derek Streat and Sean O’Connor, and the company’s board will include Lynne Chou O’Keefe and Aaron Martin. DexCare is the third technology incubated by Providence’s Digital Innovation Group and was credited with helping Providence scale during COVID-19.

Participated · Series A · Oct 2020

Scorpion Therapeutics is a clinical-stage oncology company that builds selective small-molecule precision medicines using an integrated platform spanning cancer biology, medicinal chemistry, and data sciences. Its lead program is STX-478, an allosteric, mutant-selective PI3Kα inhibitor that entered a Phase 1/2 trial in 2023 and has progressed into multiple expansion cohorts across solid tumors and breast cancer as monotherapy and in combination. The company also advances a clinical-stage EGFR inhibitor franchise including STX-721 and STX-241, plus a discovery pipeline of next-generation precision oncology therapies. Scorpion plans to use the proceeds from the Series C to expand clinical development of STX-478 and continue advancing its clinical and discovery-stage programs. Management states the company is on-track to disclose initial safety, PK/PD, and preliminary efficacy data at a future academic conference. The financing strengthens Scorpion’s balance sheet to support rapid development of its pipeline. Scorpion Therapeutics has developed a drug-hunting engine that integrates translational medicine, chemical biology, medicinal chemistry, and data science to discover targeted cancer therapies. The company is building a pipeline in three tracks: best- or first-in-class candidates against known high-impact oncogenes; candidates against historically “undruggable” non-enzymatic targets; and a new wave of protein targets discovered by Scorpion. Proceeds from the financing will support continued development of the platform and advancement of multiple therapeutic candidates across varied biological approaches for tumor targeting. Scorpion plans to name its first development candidate in 2021 and initiate clinical trials in 2022. Since its founding in the first quarter of 2020, the company has raised approximately $270 million. Scorpion Therapeutics builds a drug discovery and development engine that integrates cancer genomics, medicinal chemistry, and translational medicine to create next-generation small-molecule oncology therapies. The company aims to deliver best- and first-in-class small molecules that are safe, well-tolerated, and provide deeper, more durable responses for patients with treatment-resistant or untreatable cancers. Scorpion’s initial strategy focuses on three efforts: designing best/first-in-class drugs against known oncogenes; drugging classically undruggable cancer targets; and discovering and rapidly drugging novel transformative targets. It was founded by a team of drug developers and cancer researchers including Gary D. Glick, Keith Flaherty, Gaddy Getz, and Liron Bar-Peled, and is led by an experienced scientific team including Darrin Stuart, Angel Guzman Perez, and Erica Jackson. The company closed a $108 million Series A financing to advance its “Precision Oncology 2.0” platform and preclinical pipeline. The financing will support its discovery engine, next-generation chemistry, and translational efforts to move programs toward clinical development.

Participated · Series D · Jul 2017

Sebacia is a clinical- and commercial-stage dermatology and aesthetics company based in Duluth, Ga., developing a proprietary microparticle treatment for moderate to severe acne delivered in a topical suspension that works with existing hair-removal and pigmented-lesion laser systems. The treatment is intended as a physician-guided, in-office procedure that could serve as an alternative to oral antibiotics and isotretinoin. Sebacia reports nearly 2,000 treatments performed to date, the procedure is CE Marked in Europe, and it is being evaluated in U.S. clinical studies. The company intends to use the financing to complete a U.S. pivotal trial with expected results by mid-2018 and to submit to the FDA with a response expected by the end of 2018. Proceeds will also support expansion of its commercial presence in the European Union and strengthening its worldwide patent estate, which includes selective photothermalysis methods developed by Dr. R. Rox Anderson at Massachusetts General Hospital. The company is led by CEO Anthony V. Lando. Sebacia develops the Sebacia Treatment, which uses proprietary Sebacia Gold Microparticles in combination with hair‑removal lasers to reduce acne during in‑office dermatology treatments. The technology has demonstrated efficacy in two clinical studies. The company is led by CEO Anthony Lando and recently named Pedro Medrano as Vice President, Engineering and Program Management. Sebacia plans to complete a pivotal U.S. clinical trial and submit an application to the U.S. FDA to register the device for treatment of moderate to severe acne. It also intends to expand its intellectual property portfolio and prepare for manufacturing scale‑up to support European and U.S. product launches. The company completed a $22M Series C financing to fund these next steps.

Participated · Series A · Apr 2017

Lyndra Therapeutics is a clinical-stage biopharmaceutical company developing long-acting oral therapies using its LYNX drug delivery platform. The LYNX platform creates weekly oral medicines enabled by over 50 patented innovations and is licensed exclusively from the Bob Langer and Gio Traverso laboratories at MIT. Lyndra’s lead product candidate is oral weekly risperidone (LYN-005), which is near completion of a pivotal Phase 3 study, and the company is also advancing weekly formulations of dapagliflozin (LYN-045) and aripiprazole (LYN-006). Proceeds from recent financings are intended to support completion of the risperidone Phase 3 trials and continued development of the pipeline of oral weekly therapies. Since its founding, Lyndra has received product funding from the Bill & Melinda Gates Foundation, the NIH, AbbVie, and Gilead Sciences. The company is headquartered in Watertown, MA and operates a GMP manufacturing facility in Lexington, MA. Lyndra Therapeutics develops long-acting oral therapies using its proprietary LYNX drug delivery platform. Its lead candidate, LYN-005 (oral weekly risperidone), has dosed the first participant in a pivotal trial for schizophrenia and schizoaffective disorder. The LYNX platform is designed to deliver a week’s worth of medication in a single oral capsule. The company recently raised capital as part of a larger offering and previously completed a $60.5 million Series C in 2021. Financial updates include a $20.3 million placement from investors as part of the current offering. Lyndra Therapeutics is a clinical-stage biotechnology company pioneering an oral ultra-long-acting, extended-release capsule designed to reside in the stomach and provide linear drug release for a week or longer. Its lead candidate, LYN-005, is a once-weekly oral risperidone formulation that showed encouraging Phase 2 proof-of-concept data indicating a more consistent pharmacokinetic profile and reduced dosing frequency. The company plans to advance LYN-005 into pivotal trials and prepare for U.S. commercialization, with an expected pivotal start later this year and a launch a few years thereafter. Lyndra is expanding its CNS pipeline assets and actively evaluating high-value partnerships across a broad range of disease states. The platform targets areas where non-adherence is a major driver of outcomes, including schizophrenia, diabetes, cardiovascular disease and opioid use disorder. Lyndra has collaborations and funding engagements including the Bill & Melinda Gates Foundation and the NIH, and has raised almost $250 million in total financing inclusive of the most recent round. Lyndra Therapeutics is developing once-monthly oral dosage forms, including a combination contraceptive designed to deliver continuous estrogen and progestin. Its core technology is a star-shaped formulation contained inside a capsule that opens in the stomach, releases active pharmaceutical ingredients consistently for up to a week or longer, and then exits via the gastrointestinal tract. The current program is focused on demonstrating once-monthly gastric residence and building a once-monthly oral combination therapy. Preclinical evaluation will be conducted in collaboration with Routes2Results through additional funding from the Bill & Melinda Gates Foundation. The foundation awarded Lyndra a $13M grant for the contraceptive program and also awarded a separate grant for a long-acting malaria drug. The foundation invested in Lyndra’s recent Series B; those Series B proceeds will be used for Phase II clinical trials, expansion of the Phase I pipeline, and manufacturing scale-up. Lyndra is led by CEO and co-founder Amy Schulman and is based in Watertown, MA. Lyndra Therapeutics develops orally administered ultra-long-acting, sustained-release therapies designed to deliver steady-state release of one or more drugs for up to a week or longer while temporarily residing in the stomach. Its platform uses a star-shaped formulation inside a capsule that opens in the stomach, releases active pharmaceutical ingredients consistently over time, and then exits the gastrointestinal tract safely. The company aims to replace daily dosing with weekly or monthly pills to improve medication adherence, reduce side effects, and lower healthcare costs. To date the dosage form has been safely administered in 50 subjects during Phase I clinical trials in Australia, and Lyndra received a Notice of Allowance from the U.S. Patent and Trademark Office for related intellectual property. Lyndra is moving toward submitting an IND for a long-acting schizophrenia pill in 2019 and anticipates starting a Phase II clinical trial in 2020 while advancing other candidates through Phase I–III. The company recently raised new financing to support clinical development and manufacturing scale-up.