Participated · Series B · Jul 2026

Crystalys is advancing dotinurad, a next-generation, once-daily oral URAT1 inhibitor positioned as a second-line therapy to reduce uric acid, gout flares and tophi. Dotinurad was invented by Fuji Yakuhin and has regulatory approvals in Japan, China, the Philippines, Taiwan and Thailand, with supporting clinical data from those markets. The company is conducting the JEWEL clinical research program, which includes the Phase 3 RUBY and TOPAZ trials and the Phase 2 AMETHYST study to evaluate safety and efficacy across a broad spectrum of gout patients. Crystalys aims to position dotinurad as a best-in-class option for safety and efficacy and is preparing for global commercialization. The company is headquartered in San Diego and was co-founded by Catalys Pacific and Novo Holdings. With the announced $130 million Series B, Crystalys has increased its financial runway to support late-stage development and commercial readiness.

Participated · Series C · Jun 2026

CereVasc is a clinical-stage medical device company based in Massachusetts developing the eShunt System, an investigational, patented endovascularly implantable cerebrospinal fluid shunt and delivery components. The eShunt employs a percutaneous transvenous-transdural approach intended to enable a minimally invasive treatment for communicating hydrocephalus. The company is currently conducting the STRIDE pivotal trial, a prospective, multi-center, randomized, controlled study comparing the eShunt System to the standard ventriculo-peritoneal (VP) shunt to evaluate safety and effectiveness. Data from STRIDE are intended to support a future FDA Premarket Approval (PMA) submission. CereVasc describes the eShunt as investigational and not yet approved for commercial sale. The company plans to use recent Series C proceeds to complete the pivotal trial, advance regulatory work, scale operations, and prepare for U.S. commercialization.

Participated · Series B · Sep 2025

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.

Participated · Series C · Sep 2025

Galvanize Therapeutics develops and commercializes a pulsed electric field (PEF) platform that uses non-thermal, short-duration, highly focused electrical pulses to modulate biologic processes. Its lead programs include the Aliya® PEF system for solid tumors and RheOx® therapy for chronic bronchitis. The company is commercial-stage and intends to expand its commercial footprint in the United States. Galvanize plans to advance clinical and development activities across its oncology and chronic lung disease programs. Management says it will continue to innovate its novel, non-pharmacologic PEF platform to address unmet needs in patients underserved by pharmaceutical approaches. The company is based in Redwood City, California. Galvanize Therapeutics commercializes the Aliya Pulsed Electric Field (PEF) energy platform, a non-thermal high-voltage, high-frequency electrical system designed to alter cellular physiology for ablation and drug delivery. The company has multiple product lines: RheOx for chronic bronchitis (CE Mark, launched in select European hospitals), CENTAURI for cardiac arrhythmias (CE Mark, launching in Europe), and the Aliya system for soft tissue ablation (recent U.S. FDA 510(k) clearance, launching at select U.S. hospitals). Galvanize is also studying Aliya in immuno-oncology (preclinical and early clinical signals of immune activation) and developing a local drug-delivery system. The company was formed by ATP in 2022 through the merger of Gala Therapeutics, Galaxy Medical, and Galvanize Therapeutics and is headquartered in San Carlos, Calif. Management says it is investing to prove safety and demonstrate enhanced outcomes in initial clinical targets while exploring additional platform applications.

Participated · Series B · May 2025

Zucara Therapeutics is a Toronto-based diabetes life sciences company developing ZT-01, a first-in-class, once-daily therapeutic to prevent hypoglycemia in people with type 1 diabetes and insulin-dependent type 2 diabetes. ZT-01 is designed as an SST receptor 2 antagonist to inhibit somatostatin and restore glucagon secretion, improving the body’s counterregulatory response to low blood glucose. Zucara has demonstrated that ZT-01 can increase the glucagon response in people with T1D. The company completed a US$25 million Series B financing to support its clinical and development programs. Proceeds are intended to fund the remainder of the ongoing Phase 2a ZONE trial and the nonclinical development of a once-weekly version of ZT-01. The financing brings strategic and mission-driven investors into the syndicate to advance the candidate toward later-stage development. Zucara Therapeutics is developing ZT-01, a once-daily therapeutic intended to prevent insulin-induced hypoglycemia in patients using insulin therapy. ZT-01 is designed to inhibit somatostatin, restoring glucagon secretion and the body’s ability to recover from hypoglycemia. The company positions ZT-01 as a first-in-class therapy that could improve diabetes management and reduce dangerous hypoglycemic episodes. Zucara was co-founded by Toronto Innovation Acceleration Partners and adMare BioInnovations based on foundational intellectual property from the University of Toronto. Preclinical R&D was supported by more than US$7 million in funding, including US$3.9M from The Leona M. and Harry B. Helmsley Charitable Trust and US$0.8M from JDRF International. The company is preparing to initiate a Phase 1 clinical trial of ZT-01 in mid-2020 and intends to advance the program through Phase 2. Zucara Therapeutics is a diabetes life sciences company developing the first once-daily therapeutic to prevent low blood glucose (hypoglycemia); its lead candidate is ZT-01. The company is a spin-off of The Centre for Drug Research and Development (CDRD) and MaRS Innovation and is based in Toronto and Vancouver, British Columbia. Zucara plans GLP toxicology, GMP manufacturing and IND/CTA‑enabling activities to advance ZT-01 into Phase I clinical trials in 2019, with preclinical work led by CSO Dr. Richard Liggins and scientific support from founding scientist Dr. Michael Riddell. The company secured US$3.9M in non-dilutive funding structured as a program-related investment (PRI) loan from The Leona M. and Harry B. Helmsley Charitable Trust to support preclinical advancement. This new support builds on more than US$1M in earlier funding from JDRF International, the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), CDRD and MaRS Innovation. Zucara will join a Helmsley-supported scientific working group focused on understanding and restoring pancreatic mechanisms to prevent hypoglycemia and continues to collaborate with CDRD to advance its product. Zucara Therapeutics is a pre-clinical life sciences company and a spin-off of The Centre for Drug Research and Development (CDRD) and MaRS Innovation. The company’s lead program is a first-in-class therapeutic designed to prevent dangerous low blood sugar by inhibiting somatostatin and restoring counter-regulation in people with diabetes. Founding scientists include Dr. Michael Riddell and Dr. Richard Liggins, who serves as chief scientific officer. Zucara has shown proof-of-principle in animal models and plans to advance its lead candidate through IND-enabling studies. JDRF has provided previous support to the underlying academic work and has contributed new funding to ready the program for clinical testing beginning in 2019. The company aims to reduce hypoglycemia incidence without affecting insulin efficacy, improving glucose management and long-term outcomes for people with type 1 diabetes. Zucara Therapeutics is a pre-clinical life sciences spin-off of The Centre for Drug Research and Development (CDRD) and MaRS Innovation developing a first-in-class, once-daily drug to prevent hypoglycemia in patients with diabetes. The program targets somatostatin type 2 receptors in the pancreas to prevent low blood sugar and restore natural glucose regulation, offering a preventative approach unlike rescue therapies. The company licensed a set of compounds from CDRD and is selecting and advancing a lead drug candidate. Further validation and in vivo studies are ongoing. Zucara says the recent funding provides runway to reach near-term value-creating milestones and advance the program toward clinical development. The company plans to seek Series A financing in early 2017 to take the program into clinical trials, which are expected to start in 2018.