• Proteon Therapeutics

  Participated · Series D · May 2014

  Proteon Therapeutics' lead product, PRT-201, is an investigational recombinant human elastase being developed to prolong patency and reduce failure of hemodialysis vascular access in patients with chronic kidney disease. Preclinical data suggest elastase can reduce neointimal hyperplasia and dilate segments of arteries and veins, which may improve blood flow and vessel patency. PRT-201 has received FDA fast track and orphan drug designations and an orphan medicinal product designation from the European Commission for hemodialysis vascular access indications. The company plans to initiate a Phase 3 study later this year to evaluate PRT-201 in patients undergoing surgical placement of an arteriovenous fistula (AVF). Proteon is headquartered in Waltham, Mass. The company concurrently raised financing to support its late-stage development program. Proteon Therapeutics is a privately held biopharmaceutical company based in Waltham, MA developing novel, first-in-class pharmaceuticals to address medical needs in renal and vascular diseases. Its lead candidate, PRT-201, is a locally-acting recombinant human elastase that fragments elastin fibers in blood vessel walls. Proteon is investigating whether elastase can be used to dilate arteries and veins and reduce neointimal hyperplasia where those effects would provide clinical benefit. The company is initially evaluating PRT-201 to improve outcomes associated with the surgical creation of vascular accesses in chronic kidney disease patients undergoing hemodialysis. PRT-201 has received FDA fast track and orphan drug designations for hemodialysis vascular access indications. Proteon recently completed a $15.2M financing, and lists a number of institutional and angel investors among its backers.

• Sonian

  Participated · Series C · Jan 2014

  Sonian provides cloud-based archiving that stores, secures and enables fast search and retrieval of business data across the world’s five largest public clouds. Its platform is used by more than 20,000 customers in 40 countries and manages over 20 billion objects, with about 17 million new documents uploaded daily. The company says customers rely on its solution to retain and protect business email and other valuable data. Sonian has grown quickly, adding more than 2,500 customers in the past year and 13 employees over the same period, and recently appointed Tim McKinnon as CEO. The business reported a record quarter in sales and profitability. Sonian plans to continue investing in new technologies and products to meet rising demand for line-of-business big data visibility. Sonian offers a secure, scalable cloud-powered information archiving platform designed to address discovery, regulatory compliance, and IT cost reduction. The company archives email and other human-generated data with rapid search capabilities and claims deployment in minutes with no hardware or software. Sonian reports more than 14,000 customers across 40 countries and archives over eight billion objects, with datasets growing an average of 300 gigabytes per day. Recent product activity includes the release of Central Archive for IBM Domino users and expansion of its global channel network through major MSP additions. Sonian has received recognition including placement in the Gartner Magic Quadrant for Enterprise Information Archiving and a Top 100 Cloud Solution Providers nod from Talkin' Cloud. The company plans to unveil its next-generation DiscoverStor platform in Q1, extending support to new file types and adding advanced analytics to broaden appeal to global enterprise customers. Sonian provides cloud-based archiving and search services for enterprises, including scalable storage management, regulatory compliance, and eDiscovery. The company serves about 9,000 businesses and says its customer base doubled in each of the past two years, reporting 'record' growth over the past four quarters. Key verticals include financial services and healthcare. Sonian runs part of its business on Amazon Web Services and has partnerships with Tech Data Corporation and ISI; it also acquired Webroot's Email archiving business in January. The company plans to use new funding to expand customer relationships, build out sales and marketing teams, and develop new features for its core archiving products. The article cites industry data projecting the email archiving market will be worth $2.2 billion by 2014, with cloud-based archiving services accounting for roughly half. Sonian provides a cloud-powered information archiving platform compatible with many email, instant messaging, and social media systems. The platform is positioned to help organizations meet eDiscovery requirements, achieve regulatory compliance, and lower IT costs. Sonian says more than 5,000 customers use its cloud-based archiving solutions. The company plans to use the new funding for continued research and development of its archiving platform and for business expansion. Sonian recently appointed Jeff Dickerson as president and CEO. To date the company has raised $14.6 million in venture capital.

• Xlumena

  Participated · Series C · Dec 2013

  Xlumena develops the AXIOS family of endoscopic stents and delivery systems for interventional endoscopy. Its core product, the AXIOS Stent and Delivery System, is a fully-covered, dual-flanged stent delivered under endoscopic ultrasound guidance to create secure drainage pathways between the gastrointestinal tract and the common bile duct, gallbladder or pseudocyst. The HOT AXIOS variant incorporates cautery into the delivery system, enabling access and stent delivery in a single device. The AXIOS system obtained a CE mark in Europe in 2012 and is available in a select number of centers; devices have been used to treat acute cholecystitis, biliary inflammation and pancreatic pseudocysts. The company intends to use the $25M Series C proceeds to expand global commercialization of the AXIOS family and to bring its platform to the U.S. interventional endoscopy community. Xlumena is led by President and CEO Greg Patterson, and Third Point’s Jason Hong will join the board in conjunction with the financing. Xlumena is a Mountain View, California–based company that develops advanced therapeutic devices for interventional endoscopists and endoscopic surgeons. Its product portfolio includes the NAVIX™ Access Device (FDA‑cleared) and the AXIOS™ Stent and Delivery System (CE marked), along with other devices in various stages of development. The company was founded in 2008 by Kenneth Binmoeller, MD, and Michael Allen, who serves as President and CEO. Management says recent financing will support market expansion in the U.S. and Europe. Xlumena has raised $19M in total financing to date. In conjunction with the latest raise, two investors will join the company’s board.

• Avedro

  Participated · Series D · Mar 2013

  Avedro is a Waltham, MA–based ophthalmic pharmaceutical and medical device company led by CEO Reza Zadno, PhD. The company has developed a patented corneal cross-linking technology that includes drug formulations and medical devices, which is approved for sale in numerous countries. Avedro is developing proprietary corneal remodeling products to treat keratoconus, corneal ectasia and to provide refractive correction as an alternative to contacts and eyeglasses. It secured $25M in financing to support its programs. The company plans to use the funds for product development, clinical studies and commercial efforts, including expansion of sales and reimbursement support. Avedro’s board gained Hongbo Lu, PhD, as a representative of the lead investor in connection with the financing. Avedro develops and commercializes corneal cross-linking pharmaceutical and device therapies, including FDA‑approved Photrexa Viscous, Photrexa and the KXL System. The company sells additional capital equipment and formulations outside the U.S., such as UV‑X devices, the KXL and Mosaic Systems, and VibeX and MedioCROSS. Avedro announced a combined $42 million equity and debt financing to support commercial expansion and pipeline and clinical development programs. It has opened a new manufacturing facility in Burlington, Massachusetts, near its Waltham headquarters, to increase production capacity and support a global supply chain. The facility employs 5S, Lean and Six Sigma methodologies and will accommodate an anticipated year‑over‑year increase in large capital equipment production in 2017. Avedro is also expanding its corporate team to support growth and broader commercialization efforts. Avedro develops corneal cross-linking platforms and related pharmaceuticals, including the KXL and Mosaic systems and formulations such as VibeX and MedioCROSS. Its Mosaic System performs the PiXL procedure, intended to deliver non-surgical correction of myopia and improve cataract surgery outcomes. The company distributes products outside the United States through a network of ophthalmic medical device distributors; its products are not approved for sale in the United States. Avedro has re-submitted an NDA to the U.S. FDA for its corneal cross-linking technology and anticipates a PDUFA action date in April 2016. Proceeds from recent financing are intended to strengthen the balance sheet, expand global distribution of KXL, commence commercialization of Mosaic outside the U.S., and support potential U.S. commercialization if FDA approval is received. The company describes its work as advancing the science and technology of corneal cross-linking and refractive correction. Avedro develops corneal crosslinking capital equipment and related pharmaceutical (riboflavin) products used to treat multiple corneal pathologies and to improve LASIK outcomes via its Lasik Xtra procedure. The company’s products have received CE Mark and have been commercially launched in 32 countries outside the United States; Avedro’s products are not for sale in the U.S. It reports that nearly 50,000 Lasik Xtra procedures were performed worldwide in 2012. Avedro is preparing to launch a new device platform that it says will open significant new procedure opportunities previously demonstrated in early trials. Its technology is being evaluated in three Phase III clinical studies in the U.S. involving more than 100 sites. The company plans to pursue U.S. FDA approval and expand applications of corneal crosslinking into cataract and refractive surgery. Avedro is a privately held ophthalmic device and pharmaceutical company based in Waltham, MA developing systems and procedures to biomechanically strengthen and modify the cornea. The company produces and sells the KXL System for performing Lasik Xtra and Accelerated Cross-linking and the Vedera System for performing Keraflex, an incisionless thermal procedure to flatten the cornea. Both devices are CE Marked and commercially available outside the United States. Avedro positions KXL as a way to enhance the LASIK market by offering patients added security and Vedera as able to induce refractive change without removing tissue. The company completed a $25 million Series C and plans to use the proceeds to expand commercial operations of the Vedera and KXL Systems outside the United States and to seek U.S. FDA clearance.

• White Sky

  Participated · Equity · Jun 2012

  White Sky provides white-label security software (White Sky Connect) licensed to large enterprises under a B2B2C model. It partners with companies like Comcast (Constant Guard Protection Suite) and AOL (OnePoint secure desktop) to deliver security services alongside partner applications. The company is paid licensing fees on a per-active-customer, per-month basis. White Sky shifted from a hardware USB security stick business (formerly GuardID) to a software-licensing model to reach larger customers. It is based in Mountain View, Calif., and currently employs about 25–30 people, with plans to add roughly 15 engineering staff by year-end. The company has raised about $27 million in total capital to date.

No current team members are available.