Participated · Series B · Feb 2023

Evonetix develops a semiconductor-based DNA synthesis platform that uses a proprietary silicon chip to control thousands of independent thermally controlled reaction sites, or 'pixels'. Its patented Binary Assembly process assembles highly accurate, gene-length DNA on the chip surface. The company says the approach enables synthesis of thousands of sequences on a single chip and assembly of long DNA in days rather than weeks. Evonetix has opened an early access program and is executing a commercial strategy to put benchtop gene synthesis instruments in users' hands. The recent financing will support scaling its semiconductor chips to commercial scale and extending gene assembly capabilities for benchtop delivery. The platform is targeted at accelerating research across pharma, biotech, food, agriculture, and data storage. Evonetix is developing a desktop platform for scalable, high‑fidelity and rapid gene synthesis using a silicon chip‑based system. Its technology utilises MEMS‑processed silicon chips that control synthesis at many thousands of independently controlled reaction sites or ‘pixels’ and assembles strands on‑chip into double‑stranded DNA with error identification and removal. The company says this approach enables accuracy, scale and speed several orders of magnitude better than conventional approaches. The new funding will accelerate internal technology development, including integration to enable synthesis of DNA on a chip, and will fund Evonetix through to the introduction of its desktop DNA platform. The investment will also support significant recruitment across scientific, operational and commercial staff at its facility in Coldhams Business Park, Cambridge, UK. Evonetix was founded in 2015, raised a $12.3M Series A in 2018 and has raised $46M to date following the recent Series B. Evonetix is a Cambridge-based company developing a novel gene synthesis platform that uses an addressable silicon array to direct DNA synthesis in parallel. Its platform performs synthesis at many sites simultaneously and applies an error-detection process to assemble high-fidelity DNA at scale. The technology is intended to meet synthetic biology's growing need for high-throughput, highly accurate DNA and RNA constructs and to enable synthesis without practical size limitations. Evonetix aims to reduce costs and accelerate innovation across medicines and other industries by delivering massive parallelisation with low error rates. The company was founded in 2016. It completed a $12.3 million (£9 million) financing to advance development of its technology.

Participated · Series B · Sep 2021

Xealth is a Seattle-based company that develops digital health enablement solutions for health systems. Its platform allows providers to prescribe and monitor digital health content, apps, and services as easily as medications. The platform incorporates custom data and analytics so health systems can track, analyze, and evaluate digital health use through its integration platform. Led by CEO Mike McSherry, Xealth reports 12 million orders sent, 100,000 providers engaged, and three million patients reached to date. The company received an investment from Morningside Ventures and intends to use the funds to expand operations and its development efforts. The amount and instrument of the investment were not disclosed in the announcement. Xealth provides a platform that centralizes integration, prescribing, monitoring and governance for digital health tools within clinician workflows. The platform is tightly integrated with EHRs and has full integrations with the largest EHR vendors. It is available to more than 100,000 physicians and its deployments demonstrate a 50–80% reduction in integration and deployment costs while driving substantial patient engagement. Xealth is backed by health systems and strategic investors, including Cerner, Novartis, Philips, ResMed, McKesson Ventures, Threshold Ventures and LRV Health. The company plans to use the new funding to roughly double its team and to fund product innovation, including enhancements to its intelligence engine to better match tools to patients and scale deployments across the U.S. Spun out of Providence St. Joseph Health in 2017 and based in Seattle, Xealth has raised $52.6 million to date. Xealth provides a platform that enables health systems to organize, integrate, deploy and activate digital health tools and programs. Through the platform, clinicians can find and order digital health tools directly from the EHR workflow, send those digital orders to patients' smartphones or desktops, monitor patient engagement and analyze the effects of more engaged patients. The company raised an additional $3M in its Series A, bringing the round to $14M total, and intends to use the funds to advance development and deployment of its platform for digital health programs. Xealth spun out of Providence St. Joseph Health in 2017 and is led by CEO Mike McSherry; it is based in Seattle, Washington. It works with health systems including UPMC, the Froedtert and the Medical College of Wisconsin health network, Duke Health and other leading health systems. Xealth is a digital prescribing platform that enables clinicians to integrate, prescribe and monitor digital health tools for patients from their EHR workflows. Its platform supports patient education, online third-party apps and programs, device monitoring, and non-clinical services such as ride shares, food delivery and e-commerce recommendations. Care teams and physicians can monitor patient engagement and analyze the effects of more engaged patients. Originally incubated and spun out of Providence St. Joseph Health in 2017 and led by CEO Mike McSherry, the company is based in Seattle, WA. Xealth works with health systems including UPMC, the Froedtert and the Medical College of Wisconsin health network, Baylor Scott and White, and Duke. The company raised $11m in a Series A to accelerate expansion of its platform. Xealth is launching a digital prescribing and analytics platform that lets physicians and clinicians prescribe and track educational health content, disease-management apps, and monitoring devices directly from their EMR charting interface. The platform aggregates and filters a variety of content sources into a care provider’s existing EMR workflow, simplifying creation of a customized patient experience. Clinicians can discuss digital tools during appointments, track patient usage afterward, and schedule reminders to encourage engagement. Patients access prescribed digital health tools through their health system’s secure patient portal. Xealth was founded in 2016 by Mike McSherry and was incubated within Providence’s Digital Innovation Group. The company has raised $8.5M to support launch and expansion with participating health systems planning broader integration and use of third-party digital solutions.

Participated · Series C · Oct 2020

Gauss develops computer-vision software for healthcare with a flagship product, Triton, that detects surgical and obstetric hemorrhage in real time and notifies clinicians for timely intervention. Triton received De Novo clearance from the U.S. FDA in 2014 and several follow-on 510(k) clearances, is available on the iPhone, and has been widely adopted by U.S. health systems. The company is advancing a COVID-19 at-home rapid antigen test integrated with a computer-vision app and has an exclusive partnership with Cellex to launch the test. Gauss expects to announce clinical trial results for the at-home test soon and its technology is already powering large-scale, at-home research studies on COVID-19. The company is led by CEO Siddarth Satish and was founded in 2011 in Menlo Park, CA. Gauss will use new funding to continue development and deployment of its at-home COVID-19 testing and computer-vision applications.

Participated · Equity · Oct 2019

AVIA is a Chicago-based partner for digital health insights, strategic guidance, and consulting services that helps health systems navigate healthcare digitization. Members of the AVIA Innovator Network access market intelligence, collaborative initiatives, and consulting to accelerate digital transformation. The company supports clients with digital roadmaps, board- and executive-level strategy work, and the AVIA Connect platform to link participants. AVIA focuses on building next-generation digital front doors, virtual health, Medicaid transformation, automation to unlock workforce capacity, and addressing consumerism, population health, and risk-based arrangements. It serves more than 50 healthcare organizations nationwide and counts 12 member-owner health systems. AVIA recently raised $22 million to expand its services, topical coverage, and markets. AVIA is a consulting firm that connects large hospital systems with startups to accelerate adoption of new technologies and address strategic business issues. The company screens potential partners and builds road maps to shorten procurement and contracting timelines. AVIA has grown its membership to 22 health systems whose networks operate more than 350 hospitals. In two-and-a-half years AVIA expanded headcount from 10 to 36 employees and plans to double headcount in the next year. Financially, AVIA raised a $7.2 million Series C in 2016 and had previously raised $6 million two years earlier. The firm is based in Chicago and sells strategic advisory services to its hospital members.

Participated · Equity · Feb 2016

Bloodbuy operates a cloud-based platform that connects hospitals and blood centers nationwide, using proprietary algorithms to address uneven geographic distribution of blood supply in real time and automate redistribution. The solution is deployed at integrated delivery networks (IDNs) and blood centers across the U.S. Christopher Godfrey is the founder and CEO. The company raised $3.75M to continue expanding its integrated network of hospitals and blood centers, grow its team, and add new technology offerings. In conjunction with the funding, executives from investors joined Bloodbuy’s board. Bloodbuy announced a strategic relationship with Premier to offer its technology to Premier’s membership of approximately 3,600 U.S. hospitals and 120,000 other healthcare providers.