Participated · Debt Financing · Jun 2019

First Light Diagnostics is a Chelmsford, Mass.-based developer of automated products for rapid, sensitive and cost-effective diagnosis and treatment of life-threatening, antibiotic-resistant infections. Its products are based on the proprietary MultiPath™ detection technology and aim to combine the clinical performance of advanced commercial laboratory tests. The tests rapidly detect infections, identify infectious agents and determine effective targeted antibiotic therapy. The company is developing and preparing to commercialize these diagnostic products. First Light closed a $4.5M debt financing that includes a Lease Line with CSC Leasing of Virginia to acquire equipment and infrastructure to support development and pilot manufacturing. It also secured a debt financing facility with MassDevelopment to support working capital requirements; the company is led by CEO David Macdonald and Don Straus is the founder and primary inventor of the core technology. First Light Diagnostics develops automated products for rapid, sensitive, and cost-effective diagnosis of life-threatening, antibiotic-resistant infections. Its tests are based on proprietary MultiPath™ detection technology that rapidly detect infections, identify infectious agents, and determine effective targeted antibiotic therapy. The company closed an $8.25M Series A-2 round and intends to use the proceeds to continue development of the MultiPath technology. Funds will also support preparation for product commercialization and a planned launch in early 2020. First Light is led by CEO David Macdonald and founder and primary inventor Don Straus. The firm aims to commercialize innovative diagnostics to combat the spread of antibiotic resistance.

Participated · Debt Financing · Oct 2017

Amastan Technologies uses proprietary advanced plasma processing and a continuous UniMelt™ process to produce engineered ceramic, metal and composite materials to exact specifications. The company focuses on critical materials for silicon wafers, LED lighting, industrial 3D printing powders, advanced batteries and thermal coatings. It is ISO 9001 certified and produces over one million pounds annually of its Ty-Gem™ titanium alloying compacts. In conjunction with its recent fundraising, Amastan acquired AL Solutions to integrate refined titanium materials and metal handling processing capabilities. The company plans investments in the Pittsburgh area to expand Ty-Gem™ production capacity and build a new additive manufacturing metal powders facility. Rebranded as Amastan Additive, it intends to launch a line of premium powders for the metal additive manufacturing market in late 2019. Aaron Bent, PhD, leads the company and AL Solutions’ CEO Frank Roberts has been named President of Amastan. Amastan commercializes the UniMelt plasma platform to manufacture advanced powders and nanomaterials for applications including silicon wafers, LED lighting, industrial 3D printing powders, advanced batteries, and thermal coatings. Its UniMelt system uses a uniform plasma core operating at about 6,000 degrees to collapse multi-step, hours-to-days processes into a single, low-waste step often taking less than one second. The company emphasizes lower cost and reduced resource impact while enabling engineered "designer" material properties not achievable with conventional routes. Recent financing will fund expansion of commercial partnerships, increased production capacity through new equipment and systems, growth of the engineering team, and exploration of new application areas for the proprietary technology. The company announced board appointment of Mark Little, PhD, a Material Impact venture partner and former GE CTO, concurrent with the round.

Led · Debt Financing · Jul 2011

ConforMIS develops patient-specific knee implants and instrumentation using its proprietary iFit image-to-implant platform. The company’s core products include the iTotal® G2, iUni® G2 and iDuo® G2 systems, all cleared by the U.S. FDA and CE Marked in Europe. ConforMIS differentiates via a just-in-time delivery model with a small sterile kit containing implants and disposable instruments, reducing hospital inventory and sterilization costs. It holds more than 375 patents and patent applications across image processing, patient-specific systems, instrumentation, and manufacturing. The company plans to scale commercialization of the iTotal® G2 in the U.S. and abroad, advance manufacturing capabilities, and pursue new market opportunities. ConforMIS was founded in 2004 and is based in Bedford, Mass. ConforMIS designs, manufactures, and commercializes patient-specific orthopedic implants and instruments, focused primarily on knee osteoarthritis. The company offers a full line of personalized implants, including the iUni® G2 and iDuo® G2 partial knee solutions and the iTotal® CR total knee system. In 2011 ConforMIS more than doubled its revenues and received FDA 510(k) clearance for the iTotal® CR, described as the first and only patient-specific total knee implant on the market. Its proprietary portfolio includes more than 300 patents and patent applications across imaging software, implant design, instrumentation, surgical techniques, and manufacturing. The company targets a roughly $7 billion global knee osteoarthritis market and plans ongoing R&D into new product lines, expanded sales and marketing, and manufacturing build-out using the newly raised capital. ConforMIS designs and manufactures the iTotal customized knee replacement system, a patient-specific implant intended to serve patients underserved by current designs. The company recently won CE Mark approval for the European Union and received 510(k) clearance from the U.S. Food & Drug Administration in February. ConforMIS announced that the first successful surgeries using the customized device took place last month. To support scaling, the company secured a loan to expand its supply chain and manufacturing capacity. ConforMIS says the expansion is critical to its competitiveness within the orthopedics industry and to advancing a more personalized approach to osteoarthritis treatment. The company is pursuing production growth in Massachusetts while aiming to enhance patient outcomes through customized implants.