Led · Equity · Jan 2026

Flywheel offers an enterprise imaging platform that aggregates, curates, and analyzes medical imaging and video data at scale, helping customers streamline research workflows and prepare AI-ready datasets. During 2025 the company broadened its product suite with a video viewing and annotation tool and launched Flywheel Validated, which supports 21 CFR Part 11–compliant imaging workflows for clinical trials. Its customer roster now includes 10 of the top 20 global pharmaceutical companies and 10 of the top 20 academic medical centers. Commercial traction was strong, with 43 % year-over-year growth in new business, a 40 % increase in committed revenue, and annual recurring revenue from pharma and device customers up 106 %. Net revenue retention exceeded 110 %, underscoring sticky usage and expansion within existing accounts. Backers of the company include Novalis LifeSciences, 8VC, NVIDIA, Microsoft, Novartis, and Intuitive Surgical. The new capital will be used to accelerate product innovation and further penetrate the clinical trial and AI model development markets.

Participated · Seed · Sep 2023

BlueWhale Bio is advancing a technology platform intended to accelerate and lower the cost of cell and gene therapy manufacturing. The company emerged from the Danaher Ventures Pioneer Program and was spun out of the University of Pennsylvania. Its science team is led by immunotherapy pioneers Carl June and James Riley, who serve as consultants and hold equity in the company. The University of Pennsylvania has granted BlueWhale Bio an option to enter into a license for certain Penn intellectual property. Led by CEO Peter Keller, the company plans to use new capital to expand operations and its R&D sector. The article reports a recent capital raise of $18M to support these plans.

Led · Series A · Apr 2023

Mercy BioAnalytics develops extracellular vesicle–based liquid biopsy tests aimed at the early detection of cancer. Its patented Mercy Halo platform uses biomarker co-localization to interrogate abundant blood-based extracellular vesicles that carry cancer signatures from their cell of origin. The company’s initial focus is the early detection of ovarian and lung cancers, and its blood-based ovarian cancer test portfolio is designed to detect pre-clinical high grade serous ovarian carcinoma in post-menopausal women. Mercy says the Mercy Halo ovarian cancer screening test shows unprecedented sensitivity and specificity in a blinded evaluation of samples from a randomized controlled trial. The company plans to commercialize its ovarian cancer tests and expand the Mercy Halo portfolio to include multi-cancer and lung cancer screening tests. Mercy is based in Waltham, Mass., and recently closed a financing to support commercialization and portfolio expansion. Mercy BioAnalytics is advancing the Mercy Halo extracellular vesicle‑based liquid biopsy platform to enable early detection of cancer. Mercy Halo seeks high clinical sensitivity and specificity by simultaneously detecting multiple cancer‑related biomarkers co‑localized on individual tumor‑derived extracellular vesicles. The test can be run on a very small volume of serum or plasma and uses a simple PCR‑based readout. The company closed an oversubscribed $41 million Series A to advance development and commercialization, with an initial focus on high‑risk lung cancer screening. Proceeds will also support clinical programs in ovarian cancer and the development of a broader portfolio of early‑detection tests. Preliminary data presented at ASCO, AACR and EDCC demonstrated promising performance for detecting Stage I and II lung and ovarian cancers, and Mercy is planning larger independent validation studies.

Led · Series C · Nov 2022

LevitasBio is a Menlo Park, Calif.-based provider of end-to-end sample processing and analysis to the life sciences market. Its core technology is a proprietary label-free levitation platform designed to preserve biological signatures without altering, stressing, or damaging cells. The company offers products including LeviPrep cold tissue dissociation kits, LeviSelect surface marker enrichment assays, the LeviCell EOS high-throughput sample processing platform with temperature control, and LeviMetrics integrated analysis software. LevitasBio says its solutions deliver higher quality and quantity of viable, unaltered cells for clearer downstream data and analysis. With a completed $35 million Series C, the company plans to accelerate commercial success and develop next-generation high-throughput instruments for sample processing and analysis. Existing life sciences and pharmaceutical development clients have validated the technology and company leadership aims to position LevitasBio as a benchmark platform for sample processing workflows.

Led · Series B · Aug 2022

Founded in 2013 in Niel, Belgium, eTheRNA has developed an integrated set of proprietary capabilities providing an end‑to‑end solution to design, develop, and manufacture next‑generation mRNA products. Its platform includes proprietary molecular designs, lipid biochemistry expertise, customized lipid nanoparticle formulations (cLNPs), mRNA‑based T cell adjuvants, and advanced manufacturing processes. The company says it will leverage this suite of capabilities to serve partners in both early‑stage research and later‑stage development under a partnership‑driven business model. eTheRNA intends to use the funds from the recent financing to expand investment in its integrated mRNA technology platform and pursue new partnership initiatives. It plans to accelerate near‑term revenue growth through technology licensing and mRNA cGMP manufacturing services for multiple partners. Concurrent with the financing the company announced the departure of CEO Steven Powell and the appointment of COO Bernard Sagaert as interim CEO. eTheRNA, based in Niel, Belgium, develops immunotherapies from its proprietary mRNA TriMix platform, which comprises three mRNAs that together amplify immune responses. The company has also developed a proprietary lipid nanoparticle (LNP) platform to enable intravenous delivery of (neo)antigens. Its TriMix and LNP technologies have shown preclinical and clinical activity across major cancer types and are being positioned to act synergistically with standard-of-care treatments. eTheRNA plans to start clinical development of its internal intravenous mRNA delivery programs and to explore partnering opportunities. In infectious diseases, eTheRNA is leading an international consortium developing a cross-strain protective SARS-CoV-2 mRNA vaccine for high-risk populations. The company intends to use new financing to advance multiple therapeutic programs through to clinical proof-of-concept and to support continued development and commercialization of its proprietary mRNA technologies.