Participated · Series B · May 2022

Point2 Technology develops RF signaling-based interconnect platforms—branded Active RF Cable and e-Tube—that use RF over plastic waveguides to connect accelerators and scale rack-level compute. Its technology aims to extend reach compared with copper, lower power and cost versus optical approaches, and deliver ultra-low latency without laser-based systems. The platform supports multiple form factors including pluggable cables, near-package modules, and co-packaged solutions for accelerator-to-accelerator communication. Point2 is moving from development toward commercialization and deployment and is expanding engineering and systems teams to support that transition. The company has garnered industry recognition such as a BloombergNEF Pioneers award and recently raised $76 million in a Series B extension to fund commercialization and continued product development.

Participated · Series B · Jan 2022

Windgap Medical develops patient solutions built on a patented wet/dry drug-delivery platform and autoinjector technology. Its lead program is an epinephrine autoinjector for the treatment of anaphylaxis, for which the company intends to seek FDA approval. Windgap is also advancing a novel emergency treatment for cyanide poisoning sponsored by the National Institutes of Health through a multi-year CounterACT grant led by the University of Minnesota Twin Cities. The company said it will use new funding to energize the ongoing epinephrine commercialization process and grow its pipeline of additional products that utilize the platform. Windgap’s products have not been reviewed by the FDA to date. The company is led by CEO Christopher Stepanian and CTO Brent Buchine, PhD, and is based in Watertown, MA. Windgap Medical develops a patented wet/dry drug-delivery platform. Its first product is designed for administration of epinephrine to treat anaphylaxis, and the company has additional products under development in other markets. None of Windgap’s products have been reviewed by the FDA; the company intends to seek FDA approval first for the epinephrine product. The company is led by CEO and co-founder Chris Stepanian and is based in Watertown, Massachusetts. Financially, Windgap received a strategic investment of undisclosed size. The investment was led by Shepherd Kaplan Krochuck, with participation from Molex Ventures (a subsidiary of Koch Industries). Windgap Medical is developing a smaller, more user-friendly epinephrine auto-injector with a dry, more temperature-stable formulation intended to be pocket-sized (about the size of a Bic lighter). The device is designed to make it obvious which end is the needle and to reduce user errors common with current auto-injectors. Windgap holds more than a dozen provisional patents and has patents pending covering device design and the drug formulation. The company is targeting a market release by 2018 and intends to compete in the roughly $1.3 billion auto-injector market dominated historically by the EpiPen (with >90% market share). Windgap positions its product against competitors such as Sanofi’s Auvi-Q and upcoming generic alternatives and has not disclosed pricing or reimbursement plans, leaving that to commercialization partners. The startup was a 2012 MassChallenge winner and has raised financing to support development.

Participated · Equity · Sep 2021

Credence MedSystems develops innovative drug delivery systems and connected health solutions from Menlo Park, Calif. Its lead products are the Companion Safety Syringe System and the Dual Chamber Reconstitution System, which provide usability and safety features to end-users and operational efficiencies to pharma manufacturers. The platforms also offer sustainability advantages through reduced use of plastic and a smaller footprint compared with conventional approaches. Credence is advancing a connected health portfolio including the Credence Connect Auto-Sensing Injection System, which automatically captures and transmits injection information to smartphones and the cloud to support chronic disease management and clinical trial compliance. The recent $39.9 million financing will fund scaling of production capacity for the Companion and Dual Chamber systems, development of additional platform products, and acceleration of connected health programs. Management has stated an immediate focus on implementing production capacity to meet pent-up demand, including GMP production for clinical use. Credence MedSystems is an innovator in injectable drug delivery devices focused on providing pharmaceutical customers a simplified path to commercialization of best-in-class delivery systems. Its core offering is the Companion Safety Syringe System, which combines Credence components with existing syringe or cartridge barrels and other primary package components to protect users against accidental needlestick, prevent reuse, and provide end-of-dose cues. The Companion is available in luer needle, staked needle and dual chamber reconstitution configurations, and the needle automatically retracts into the syringe after injection. The company said it will use the $12.8 million Series B proceeds to scale its lead product and increase manufacturing capability to commercial volumes. Credence also plans to progress development on other pipeline products, including a Dual Chamber Reconstitution Safety Syringe and a connected health platform. The company is based in Menlo Park, Calif., and emphasizes an "Innovation Without Change" approach that preserves customers' existing processes and supply chain strategies. Credence MedSystems is a drug delivery technology company focused on injectable medication delivery and safety. Its current commercial focus is the Companion passive needle-safety pre-fillable syringe platform, offered in staked-needle, luer-needle, and dual-chamber reconstitution configurations. The Companion provides end-of-dose cues and an automatic needle retraction that permanently disables reuse, and is compatible with existing syringe barrels and closure components to reduce implementation risk for drug manufacturers. Credence reports several active collaborations with multinational pharmaceutical and biotechnology manufacturers and generates revenue from Development Agreements. Management says the company is rapidly gaining customer traction and has other advanced products in development, including systems targeting biologics delivery. The company will use new financing to advance projects toward commercialization and to continue R&D on next-generation delivery products.

Led · Equity · Apr 2019

Dance Biopharm focuses on developing soft mist inhalable formulations of biologics and a connected, handheld delivery device. Its lead product, Dance 501, is a preservative-free inhaled recombinant human insulin delivered via a proprietary soft mist device designed for high lung deposition. The company is preparing to initiate a global Phase 3 program for Dance 501 in patients with type 1 and type 2 diabetes in mid-2020. Dance is also advancing Dance 601, a GLP-1 analog, toward IND-enabling studies. The company was founded in 2010 and is based in the San Francisco Bay Area. Proceeds from recent financing will fund manufacturing for Phase 3 studies, IND-enabling studies, organizational preparation, and general corporate purposes. Dance Biopharm Inc. is a Brisbane, CA–based biotechnology company focused on developing inhaled insulin products to treat diabetes. Led by chairman and CEO Dr. John Patton, the company began operations in 2010 and is advancing Dance 501, an inhaled insulin product consisting of a high-purity liquid formulation of recombinant human insulin. Dance 501 is stored in a dispenser for administration with a small handheld electronic inhaler that uses patented vibrating mesh technology to produce consistently sized particles as a smooth mist. The design is intended to deliver insulin into the lungs in a few breaths. The company completed a $9.5m financing (convertible notes and warrants) to fund human clinical studies, manufacture drug and devices for clinical studies, and for working capital and general corporate purposes. Participants were a syndicate of individual and institutional investors, the majority focused on the biotechnology and healthcare sectors.