Participated · Series B · Jul 2022

Retia Medical develops advanced hemodynamic monitoring solutions centered on its Argos Cardiac Output Monitor and proprietary Multi-Beat Analysis (MBATM) algorithm. The Argos Monitor provides accurate, real-time cardiac output and hemodynamic data by analyzing multiple heartbeats and leverages a patient’s existing arterial line without requiring additional disposables. The system is designed for high-risk surgical and critically ill patients, enabling individualized, data-driven care to improve outcomes and lower costs. The next-generation Argos Monitor can be set up in less than one minute and detects important changes in a patient’s status to enable immediate clinical intervention. The company combines expertise in physiology, signal processing, data science, and computational algorithms to engineer its products. Retia will use the new funding to expand its commercial team and accelerate development of next-generation algorithms for guiding care for high-risk patients. Retia Medical is a medical device company based in East Lansing, Mich., developing a less-invasive system to monitor cardiac output and other key measures of the cardiovascular system. Its core platform technology was developed at Michigan State University. The company says the monitor can provide accurate measurements when patients go into shock. Retia was co-founded by Rama Mukkamala and CEO Marc Zemel. The company raised $7M in a Series A financing led by the Pritzker/Vlock family office. It intends to use the proceeds to complete product development, submit regulatory filings and launch its minimally invasive cardiac output monitor.

Participated · Series B · Mar 2021

Iridia, headquartered in Carlsbad, CA, is developing integrated DNA-based data storage that combines proprietary enzymology and semiconductor technology to write, store, and read information in synthetic DNA. Its core approach uses enzyme-based chemistry and programmable semiconductor systems to add DNA-based bits, aiming for orders-of-magnitude higher density and durability than conventional archival technologies. The company positions its solution as more energy-efficient, cost-competitive, and secure, with a much smaller physical and carbon footprint than current data-center storage. Iridia is working toward commercially viable, decodable DNA storage by developing working prototypes that can manipulate single DNA molecules and read them back using the same device. Current plans funded by new financing include further validation of the technology, prototype development, and doubling headcount and physical footprint to accelerate growth. Iridia develops an integrated DNA-based memory chip that combines semiconductor technology with proprietary enzyme-based chemistry to write, store, and read digital data using synthetic DNA as the storage medium. The company’s chip-level approach aims to increase data density and durability while dramatically reducing the physical and carbon footprints of commercial data centers. Iridia says its technology can encode and read DNA on-chip, eliminating the need for complex storage infrastructure and laboratory sequencing. Management projects a dramatic cost reduction in encoding and retrieving 1 TB of DNA-stored data from more than $1 million today to less than $1. The recent financing is intended to accelerate development of the world’s first commercially viable DNA memory chips and to demonstrate scalability. Iridia is headquartered in Carlsbad, California.

Participated · Seed · Sep 2020

Biorez is a New Haven, Conn.-based medical device company advancing tendon and ligament repair. Led by President and CEO Kevin Rocco, the company developed the BioBrace implant, a porous collagen sponge reinforced with bioresorbable microfilaments. The BioBrace is intended to augment and reinforce a wide range of tendon and ligament procedures, including rotator cuff repair and ACL reconstruction. The products remain in the development stage and have not been approved by any regulatory agency, including the U.S. Food and Drug Administration. In September 2020 the company closed out $7.0M in seed financing, reflecting its current early-stage financing status. Soft Tissue Regeneration develops bioresorbable, implantable scaffolds and related devices for tendon and ligament repair, including the L-C Ligament® for ACL repair and regeneration. The company also markets STR GRAFT™, which received FDA 510(k) clearance in November 2012 for soft tissue augmentation and repair, and is developing a 3D braided surgical mesh for breast reconstruction and hernia repair. Founded in 2008 by Cato T. Laurencin, M.D., Ph.D., and Joseph Reilly, the company is based in New Haven, Connecticut. STR intends to use recent financing to complete a European Phase I clinical study and to advance the FDA regulatory process for L-C Ligament. Management includes president and CEO Joseph Reilly; three new board members joined following the financing.

Participated · Equity · Dec 2015

Gelesis develops a novel hydrogel platform to treat overweight, obesity and other chronic metabolic diseases. Its lead product, Plenity, is an orally administered, non-systemic superabsorbent hydrogel that was cleared by the FDA for adults with BMI 25–40 and has received a CE mark for the EEA; Plenity is currently available in limited supply in the U.S. Plenity is taken as capsules before lunch and dinner and works mechanically in the GI tract by forming thousands of gel particles that increase volume and induce satiety. Gelesis is advancing additional hydrogel candidates, including Gelesis200 for weight loss and glycemic control in patients with type 2 diabetes and prediabetes, and programs targeting NASH and chronic idiopathic constipation. The company emphasizes patient-initiated care and plans to leverage digital technologies to expand access to care as it expands geographically. Gelesis recently announced a commercialization partnership in China that includes upfront licensing fees and an equity investment and provides the potential for future milestone and royalty payments. Gelesis develops a superabsorbent hydrogel platform intended to treat overweight and obesity and other GI‑related chronic diseases. Its lead product, PLENITY, is an oral, non‑systemic hydrogel that received FDA clearance in April 2019 as an aid for weight management in adults with BMI 25–40 kg/m2 when used with diet and exercise. PLENITY is made by cross‑linking modified cellulose and citric acid into particles that absorb water, form thousands of small gel pieces to increase stomach and small intestine volume and elasticity, and are partially broken down and eliminated in the large intestine. Gelesis anticipates a U.S. prescription launch of PLENITY in the second half of 2020 and is developing a second candidate, Gelesis200, optimized for weight loss and glycemic control in type 2 diabetes and prediabetes, while advancing applications in NASH and chronic idiopathic constipation. Financially, the company secured $84.6 million in new capital and nearly $100 million in total this year to support commercialization. The latest equity financing totaled $63.4 million led by Vitruvian Partners; Gelesis also secured $23.5 million in non‑dilutive grants this year and entered a long‑term, low‑interest $8.3 million loan to enhance financial flexibility. Gelesis was co‑founded by PureTech Health and operates a proprietary manufacturing facility that qualified for ERDF support regulated by the Puglia Region of Italy. Gelesis develops a mechanobiology platform and hydrogel-based mechanotherapeutics targeting obesity and other chronic diseases of the gastrointestinal pathway. Its lead candidate, Gelesis100, completed a pivotal weight-loss trial in September 2017 and is slated for regulatory submissions in the US and Europe in 2018. The company is conducting a proof-of-concept study of Gelesis200, optimized for weight loss and glycemic control in patients with type 2 diabetes and prediabetes. Gelesis is expanding its pipeline with new hydrogel compositions evaluated in preclinical studies for conditions such as NAFLD, NASH and intestinal mucositis. The company intends to use recent financing proceeds to support commercial-stage manufacturing, product launch preparations, operations, and clinical advancement of its pipeline. Gelesis is a Boston-based clinical-stage biotech focused on first-in-class, orally administered hydrogel products to induce weight loss and improve glycemic control. Its lead candidate, Gelesis100, is an oral capsule containing small hydrogel particles designed to act along the gastrointestinal tract to safely induce weight loss and improve glycemic control. A multicenter, double-blind, placebo-controlled proof-of-concept study of Gelesis100 showed statistically significant weight loss, with particularly dramatic results in prediabetics. The company is also developing Gelesis200, created from the same proprietary platform and optimized to improve glycemic control in prediabetics and type 2 diabetics. Gelesis plans to use financing to complete a six-month U.S. FDA pivotal trial of Gelesis100 (topline data expected in the first half of 2017) and to support commercial readiness activities. It also expects to complete first-in-human studies of Gelesis200, with a three-month proof-of-concept readout anticipated in the second half of 2016. Gelesis is a clinical-stage biotechnology company focused on developing products to induce weight loss and improve glycemic control in overweight and obese patients, including those with prediabetes and diabetes. Its lead product, Gelesis100, is an orally administered capsule containing small hydrogel particles designed to employ multiple mechanisms along the gastrointestinal tract to induce weight loss and improve glycemic control. The company also plans to advance a pipeline product, Gelesis200, into the clinic. Gelesis closed a $22M equity financing that included conversion of approximately $4M of outstanding convertible promissory notes. Proceeds will be used to continue clinical development of Gelesis100 and to move Gelesis200 into clinical trials. The company is led by founder and CEO Yishai Zohar and has recently expanded its scientific advisory board and board of directors with several obesity-treatment experts and new directors.

Led · Series C · Jul 2015

ZOZI offers a two-part platform: ZOZI Advance, a reservations, payments and customer-management SaaS for merchants, and ZOZI.com, a marketplace for activities and getaways. Merchants pay a monthly subscription for the software while customers are charged a small transaction fee at booking. The company acquired real-time reservation system TripFlavor in 2013 and has been building out its reservation SaaS offerings since. ZOZI targets experience-focused consumers, particularly millennials, and competes with deal and travel players while operating more like OpenTable or Eventbrite for events. The startup has raised $45 million to date and plans to use new funding to expand to more merchants on ZOZI Advance and grow ZOZI.com. Zozi operates a marketplace that sells high-end, celebrity- and expert-guided local adventures and multi-day trips. Originally launched in 2010 as a daily-deals site, the company pivoted to curated, once-in-a-lifetime experiences and launched a "Gurus" product that pairs customers with experts and celebrities. Examples include kayaking with world-record holders, skiing with Jonny Moseley, backcountry snowboarding with Travis Rice, cooking with Michael Mina, and training with Ironman champion Chris Lieto. Zozi is available in more than 20 cities across the U.S. and Canada, sells related gear from outdoor brands, and employs 40+ people focused on curation. Financially, the company has raised a total of $17.5 million to date and recently closed $10 million in growth capital and debt in a Series B1 extension. Going forward, Zozi plans to expand its roster of celebrity experts, increase local experiences and gear offerings, improve booking and customer-relations technology, and expand deeper into eCommerce. Zozi offers deals on unique local experiences—surfing lessons, fly fishing, shark cage diving, Segway tours, and more—curated by a team of travel and adventure experts and booked on its website. The company operates primarily via web (no mobile apps yet) and leverages flash marketing as a core economic driver, though its founder resists labeling it a daily-deal site. Zozi states it enables millions to find and book experiences and positions itself in a market it estimates at roughly $60 billion. It guarantees a 100% money-back refund if customers do not love the experience. The company was founded in 2009 and is led by CEO TJ Sassani. Financially, Zozi has raised venture funding totaling $10 million to date, including a recent $7 million Series B. Zozi relaunched from EkoVenture with a shifted focus toward local activities rather than exotic travel. The site promotes deals on local experiences such as kayaking in San Francisco Bay, cocktail classes in Atlanta, and tubing on the Delaware River. Zozi partners with local activity vendors to provide members discounts and is currently running a promotion giving away $500,000 worth of activities. The company differentiates itself from general daily-deal sites by vetting activities and offering a 100% money-back guarantee if customers do not enjoy the experience. Zozi recently closed a $3 million Series A from ZIG Capital, Dave McClure’s 500 Startups, LaunchCapital and individual angels including Larry Bock and Dave Dolby. The relaunch and fundraising are aimed at reaching a broader class of consumers.