Participated · Series B · Jan 2025

Aspect Biosystems develops bioengineered cellular medicines and bioprinted tissue therapeutics aimed at restoring or supplementing biological functions, targeting serious metabolic and endocrine diseases including diabetes. Its platform integrates AI-powered bioprinting technology, stem cells, hypoimmune cell engineering and advanced biomaterials. The company has announced a partnership with Novo Nordisk to develop curative medicines for diabetes. Recent government funding (CA$79M federal and CA$23.8M provincial) is intended to support expansion, clinical development and biomanufacturing scale-up and to accelerate a path to commercialization. Aspect is positioning to deepen its platform capabilities and move its therapies toward patient impact.

Participated · Series D · May 2023

ElevateBio combines multiple R&D technology platforms — including Life Edit (a next‑generation gene‑editing platform), a proprietary iPSC platform, and RNA, cell, protein and vector engineering — with BaseCamp, its end‑to‑end genetic‑medicine cGMP manufacturing and process development business. The company offers turnkey scale and capabilities to accelerate discovery, development, and commercialization of cell and gene therapies and is also building an internal pipeline of cellular, genetic, and regenerative medicines. ElevateBio has formed partnerships to expand access to its platforms, including collaborations with Moderna and Novo Nordisk and a partnership with the California Institute for Regenerative Medicine, plus a new company to develop iPSC‑derived allogeneic immune cell therapies. Operational plans include expanding geographic reach and increasing cGMP manufacturing capacity to provide partners scalable access across the full product lifecycle. Financially, ElevateBio announced a $401 million Series D financing to further advance its technology platforms and BaseCamp manufacturing capabilities. The company states the proceeds will be used to accelerate platform development, manufacturing scale‑up, and strategic partnerships across the cell and gene therapy ecosystem. ElevateBio bridges academic research and commercialization to advance cell and gene therapies, focusing on developing its own therapeutics and partnering with research institutions and biotech companies. The company incubates frequent spin-outs, including AlloVir (with Baylor College of Medicine), HighPassBio (with Fred Hutchinson) and Life Edit Therapeutics (with AgBiome), with additional undisclosed spin-outs in development. ElevateBio also supports partners through production-scale manufacturing capabilities. Financially, the company more than doubled its prior round with a $525 million Series C after a $193 million Series B closed the prior year. The new capital will be used to expand R&D and manufacturing capacity and to continue creating spin-outs and partnerships. ElevateBio is based in Cambridge, Massachusetts. ElevateBio builds and operates a portfolio of companies focused on developing and manufacturing cell- and gene-based therapeutics. It specializes in new types of cellular and genetic therapies and spins out dedicated companies—each focused on a specific therapeutic approach. Subsidiaries include AlloVir, advancing T-cell immunotherapies against viruses that arise after stem cell transplantation and already in later-stage clinical trials, and HighPassBio, which targets relapse of leukemia after transplant with T-cell therapies. ElevateBio is expanding COVID-19–related research through an AlloVir agreement with Baylor College of Medicine to develop T-cell therapies to protect immunocompromised patients. The company is ramping up a roughly 140,000 square-foot Massachusetts facility focused on R&D that is nearing completion. Financially, ElevateBio closed a $170M Series B, bringing total capital raised to over $300M following a $150M Series A announced last year. ElevateBio is a Cambridge-based biotechnology holding company established to create and build a broad portfolio of cell and gene therapy companies through partnerships with academic researchers, medical centers, and entrepreneurs. The firm provides scientific founders centralized bench-to-bedside capabilities, including world-class scientists, drug development and commercialization expertise, and manufacturing facilities. ElevateBio BaseCamp is a single R&D, process development and cGMP manufacturing company that serves ElevateBio portfolio companies and selected strategic partners. BaseCamp is staffed with scientists and is building more than 100,000 square feet of facilities in Waltham, Massachusetts, including cGMP manufacturing suites, analytics and QC laboratories, and protein engineering, virology and immunology labs. The company closed a $150 million Series A financing co-led by the UBS Oncology Impact Fund (managed by MPM Capital) and F2 Ventures, joined by EcoR1 Capital, Redmile Group, and Samsara BioCapital. ElevateBio’s leadership team includes experienced biotech executives, MPM Capital incubated the company, and founding investors from its backers are actively involved in governance.

Led · Series A · Jan 2023

Amalgam Rx is a Wilmington, Delaware–based digital health company whose core offering is a modular software-as-a-medical-device (SaMD) platform integrated with EHR solutions and powered by medical-grade artificial intelligence. The platform partners with life-science companies, health plans, and providers to embed AI-driven decision support directly into clinical workflows and patient experiences. According to the company, its solutions currently support nearly 10 million patients across four continents and have generated more than 70 million clinical decisions. Amalgam Rx states that the technology empowers both patients in their daily disease management and clinicians in evidence-based care delivery. With fresh capital, the company plans to further scale its AI capabilities and expand deployment of its tools. No revenue figures were disclosed, but the new financing adds to the firm’s resources for growth and product development.

Participated · Series C · Feb 2022

Beta Bionics develops the iLet Bionic Pancreas, an autonomous insulin delivery system that streamlines diabetes management and reduces the burden on patients, caregivers and physicians. The company focuses on advanced diabetes management solutions and related product development. It plans to use new funding to support expanded commercialization of the iLet Bionic Pancreas and to develop its product pipeline. Financially, Beta Bionics closed a $60M Series E financing to advance those plans. The company is based in Irvine, California. No operating metrics were disclosed in the article. Beta Bionics designs, develops, and commercializes the iLet Bionic Pancreas, an autonomous insulin delivery platform that can operate in single-hormone and bi-hormonal configurations. The iLet uses adaptive, self-learning control algorithms together with continuous glucose monitoring and pump technology to autonomously compute and administer insulin and/or glucagon. The system is intended to mimic the body’s natural glycemic control and reduce the burden of diabetes management for patients and physicians. Led by CEO Sean Saint, the company is organized as a for-profit public benefit corporation and is a Certified B Corporation. Beta Bionics says it will use newly raised capital to expand operations and further its development efforts. The company is based in Concord, MA. Beta Bionics is a clinical-stage medical technology company based in Concord, MA, led by CEO Dr. Ed Damiano. The company designs, develops, and plans to commercialize the iLet® Bionic Pancreas System, which uses adaptive, self-learning control algorithms with continuous glucose monitoring and pump technology to autonomously compute and administer insulin and/or glucagon. Beta Bionics is preparing for regulatory submissions and commercialization pending FDA clearance. The company intends to use the new financing for product development, regulatory submissions, and commercialization preparations for the iLet following FDA clearance. Prior financings include Series B and B-2 rounds in 2018 and 2019 that raised approximately $126 million. Beta Bionics is developing and commercializing the iLet Bionic Pancreas System, a dual-chamber, autonomous, pocket-sized wearable that automatically controls blood-sugar levels. The iLet embeds clinically tested mathematical dosing algorithms driven by lifelong autonomous learning to calculate and dose insulin and/or glucagon using continuous glucose monitor data; users initialize it by entering only their body weight. The device can be configured as an insulin-only, glucagon-only, or dual-hormone system, and the company is pursuing regulatory approval first for the insulin-only device followed by the dual-hormone configuration. Previous home-use studies in adults and children with type 1 diabetes showed dramatic improvements in glycemic control, including reductions in blood-glucose levels, hypoglycemia, and glycemic variability. Financially, Beta Bionics has raised just over $126 million across its Series B and B2 equity financings, with the most recent $63 million Series B2 closing in July 2019. The company will use proceeds to complete final product development, conduct phase 3 clinical trials, submit regulatory filings, and prepare for commercial launch. Beta Bionics develops the iLet, a pocket-sized autonomous dual-chamber bionic pancreas that calculates and doses insulin and/or glucagon using data from a continuous glucose monitor. The iLet uses dosing algorithms developed in the Damiano Lab and incorporates machine-learning AI to autonomously regulate glucose. Beta Bionics plans to begin a pivotal Phase 3 development program in the second half of 2019 and is collaborating with Zealand Pharma to use dasiglucagon as the glucagon component. Prior clinical studies showed the dual-hormone system increases time in the normal glucose range, reduces hypoglycemic events, and lowers the need for corrective carbohydrate intake. Founded in 2015 as a for-profit Massachusetts public benefit corporation and a Certified B Corporation, Beta Bionics is based in Boston with certain operations in Irvine, California. Zealand Pharma’s strategic equity investment supports the company’s continued development and Phase 3 plans.

Participated · Series D · Mar 2021

Glooko operates a digital healthcare and life sciences platform that connects patients, providers, biopharma and medical device partners to improve chronic disease management. Its core product empowers people with diabetes to manage their condition and strengthens engagement with their healthcare teams. The company says more than 4.4 million people around the world with diabetes have used the Glooko platform. Glooko intends to use new funding to accelerate global product expansion and advance its life sciences work. The company is led by newly appointed CEO Mike Alvarez, who joins with extensive leadership experience in medical devices and biotechnology. The business emphasizes personalized, intelligent, connected care for people with chronic conditions. Glooko provides a digital platform for remote patient monitoring and chronic care management, with a particular focus on diabetes and obesity. Its software collects and aggregates data from blood‑glucose meters, continuous glucose monitors, insulin pumps, pens, and activity trackers to enable telehealth, clinical research, and clinician–patient collaboration. The platform is compatible with the vast majority of diabetes devices and is used by more than 7,500 clinics and over 3 million users in 27 countries across 20 languages. The company says proceeds will accelerate organic growth and strategic initiatives across its product line, increase adoption of its remote patient monitoring platform, widen commercialization in clinical research, and expand into additional therapy areas. Glooko reported strong traction in 2020, including partnerships with major healthcare systems and extended long‑term agreements with industry leaders such as Insulet and Novo Nordisk. The company is headquartered in Palo Alto, California, with a European headquarters in Gothenburg, Sweden. Glooko offers an FDA-cleared, HIPAA-compliant diabetes data platform that syncs with popular diabetes devices, wearables and activity trackers to provide reports and analytics. Its platform serves more than one million patients and supports over 6,000 providers across 27 countries. Glooko provides payers, employers, pharma and health systems with personalized, actionable insights aimed at improving outcomes and lowering costs. The company plans to expand sales, marketing and development teams and to increase commercialization in France, Germany, the U.K., Asia and the Middle East. Glooko is further developing data analytics and artificial intelligence capabilities to deliver personalized insights, prompts to drive behavior change, and clinical decision support for clinicians and coaches. The company says the new investment will accelerate growth and deepen its analytics expertise. Glooko, formed by the merger of Mountain View–based Glooko and Gothenburg–based Diasend, operates a unified diabetes management platform. The platform downloads data from more than 160 devices—including glucose meters, insulin pumps, continuous glucose monitors (CGMs) and activity trackers—and supports in-office data uploads, analytics, smartphone-enabled self-management, and a population health platform for diabetes coaches. The combined business enables in-clinic and remote diabetes management across 4,000 diabetes health systems, in 23 countries and 15 languages worldwide. Led by CEO Rick Altinger, the company will use the funds to accelerate integration and sales efforts. The company recently raised $8M in equity financing led by Canaan Partners, with participation from Social Capital, Samsung Ventures and Yogen Dalal. Glooko offers a unified diabetes data management platform that includes Bluetooth-enabled hardware (MeterSync) to import blood glucose readings from more than 30 proprietary meters and software tools for clinicians. It sells B2B to health systems and clinics, which furnish patients with Glooko hardware to enable remote monitoring. The software includes a Population Tracker with analytics and a module for predicting hypoglycemia unawareness; the company plans to integrate insulin pumps and continuous glucose monitors and to add personalized predictive algorithms using the new funding. Glooko launched its hardware device and app in 2011 and charges contracted health systems and clinics a per-patient-per-month (PMPM) subscription, with the fee decreasing at larger patient volumes. The company reports "thousands" of users and "millions" of blood glucose readings in its database to date.