Led · Debt Financing · Dec 2023

Atlantic Fish Company is a Triangle-based startup leveraging cellular agriculture to cultivate scalable, eco-friendly seafood. Its first product, the Vista Cut, is a cultivated black sea bass filet aimed at easing pressure on overfished wild stocks. Progress in product development has accelerated thanks to a clear regulatory pathway emerging for cultivated proteins. The firm has bolstered R&D with federal SBIR grants from USDA and NSF, plus matching state grants from NC IDEA and the One North Carolina Small Business Program, and a research loan from the North Carolina Biotechnology Center. Recent hiring, including senior scientist Dr. Khanh Vien, has strengthened its technology platform. Fresh capital will fund pilot-scale production and customer development with sustainability-minded restaurants and distributors. CEO Doug Grant currently splits time between Washington, D.C. and North Carolina but anticipates relocating as operations expand. Revenue has not been disclosed as the company remains in pre-commercial stages.

Led · Equity · Jul 2022

Plakous Therapeutics is a Winston-Salem, North Carolina–based biotherapeutic company developing placenta-derived regenerative therapies. Its lead product is Protego-PD™, described as the company’s first regenerative medicine product. The company intends to use the recently raised funds for ongoing development and marketing of Protego-PD™. Plakous is led by CEO Robert Boyce. The company positions its therapies as improving patient outcomes while reducing health care costs. FinSMEs reported the funding on 08/07/2022.

Participated · Debt Financing · Jul 2018

Cereius is a Durham, NC–based biotechnology company focused on novel approaches to treat solid tumor brain metastases. The company was founded in 2017 by Dr. Michael Zalutsky and Dr. Kimberly Blackwell and is led by CEO Ed Field. Its intellectual property includes next‑generation radiolabeling chemistries developed by Dr. Zalutsky and exclusively licensed from Duke University. These chemistries are designed to increase uptake and retention of radionuclides in target tumors while minimizing uptake by normal tissues, thereby enhancing therapeutic index and diagnostic contrast. Cereius recently closed a $6.75M financing (a $6.5M Series A plus a $250k loan), strengthening its financial position. Governance will be bolstered by new board members tied to investors and industry, signaling active investor engagement.

Participated · Series A · Nov 2017

Locus Biosciences is a clinical-stage biotechnology company developing precision antibacterial therapeutics that eradicate harmful bacteria while sparing the healthy microbiome. Using an AI-powered, robotics-driven phage engineering platform, the company integrates phage discovery, cocktail optimization, synthetic biology, and advanced U.S. biomanufacturing to create highly selective bacteriophage products. Its lead candidate, LBP-PA01, targets hospital-acquired and ventilator-associated pneumonia caused by antibiotic-resistant Pseudomonas aeruginosa. Locus has attracted substantial non-dilutive support from organizations such as BARDA, CARB-X, Viatris, and the National Institute of Allergy and Infectious Diseases (NIAID). The most recent NIH contract underscores ongoing institutional confidence in the company’s platform and finances a clinical trial for LBP-PA01. Led by CEO Paul Garofolo, the company leverages partnerships and government contracts to progress its pipeline without relying solely on traditional equity funding. No revenue, user, or patient enrollment figures were disclosed in the article. Future efforts include executing the NIH-backed trial and expanding its portfolio of precision phage therapeutics.