Participated · Series C · Jul 2021

Strata Oncology is a precision oncology company based in Ann Arbor, Mich., focused on expanding a comprehensive genomic and transcriptomic profiling platform. The platform integrates comprehensive genomic profiling with highly quantitative RNA expression profiling to deliver molecular insights from a single, minute tumor tissue specimen. Strata offers a portfolio of treatment selection tests for solid tumors and is developing a personalized minimal residual disease (MRD) assay for early-stage cancers. The company is also advancing a pipeline of novel RNA-based treatment selection tests for solid tumors. Financially, Strata closed a $90M Series C and has raised over $130M in total since inception. The company is led by co-founder and CEO Dan Rhodes, Ph.D. Strata Oncology is an Ann Arbor, Mich.-based precision oncology platform that systematizes tumor molecular profiling and precision therapy trials across a network of health systems and pharma partners. The company integrates molecular profiling and precision therapy trials with routine care to enable system-wide precision oncology programs and provide a mechanism for rapid, predictable enrollment in precision therapy trials. Strata offers a tumor molecular profiling assay, StrataNGS, and develops clinical-genomic data and software solutions to streamline health system workflows. The company plans to expand its Strata Precision Oncology Network of adopting health systems, further develop its clinical-genomic data and software, and submit StrataNGS for FDA approval. It also intends to launch the PATH master therapeutic protocol to support rapid and cost-effective indication expansion studies for on-market drugs. Strata is led by CEO Dan Rhodes, PhD, and recently completed a significant Series B financing. Strata Oncology provides tumor sequencing to advanced cancer patients and maintains a portfolio of matching clinical trials. The company completed a $12M Series A financing to accelerate development of its tumor sequencing operation and to implement the Strata Trial, a nationwide effort to substantially increase enrollments in precision medicine clinical trials. It is based in Ann Arbor, Mich. Strata's core offering pairs next-generation sequencing-based tumor profiling with trial matching to connect patients to precision medicine studies. The company has a strategic partnership with Thermo Fisher Scientific, which will serve as technology provider and supply Ion S5 XL systems, AmpliSeq technology, and Oncomine assays. Strata was co-founded by Dan Rhodes (CEO), oncologist Keith Flaherty, M.D., and pathologist Scott Tomlins, M.D., Ph.D.

Participated · Series B · Mar 2021

Autobooks provides invoicing, digital payment acceptance, and accounting solutions for small businesses, fully integrated into online and mobile banking. Its platform is delivered via financial institutions and is used by banks and credit unions nationwide to help grow and retain small business relationships. The company is led by CEO Steve Robert and is based in Detroit, MI. Autobooks plans to use the new capital to support continued expansion, including its recently announced acquisition of Allied Payment Network, a provider of integrated flexible payment solutions. The article reports a $40M investment from Runway Growth Capital to support these initiatives. No operating metrics or prior funding rounds are disclosed in the article. Autobooks is a Detroit, MI-based small business payment and accounting services platform led by CEO Steve Robert. It enables small businesses to send digital invoices and accept online payments directly from their financial institution’s existing online and mobile banking channels. Through its system, financial institutions can offer back-office services and a small-business eCommerce platform embedded within their digital banking channels. In November 2021 the company raised $25M in Series B financing. The company plans to use the funds to expand operations domestically, enter international markets, accelerate product innovation, deepen engagement with large enterprise banks, and grow its team. Investors in the round include MissionOG, Renaissance Venture Capital, Detroit Venture Partners, Draper Triangle and TD Bank Group. Autobooks provides an integrated receivables and cash-management platform for banks and credit unions. The platform lets banks bundle invoicing, payments and accounting services and offer them to small-business clients. Its tools are designed to help small businesses manage cash flow and automate administratively burdensome bookkeeping tasks. The company is led by co-founder and CEO Steve Robert. Autobooks is based in Detroit and also has a presence in Austin, Texas. It recently raised $10M in a Series A1 and intends to use the funds to increase hiring. Autobooks is a Troy, Michigan-based financial technology company that builds cash management tools and payment and accounting software integrated into online banking platforms. Its platform enables banks and credit unions to offer receivables, payables, payments and accounting services to small business clients, expanding beyond basic bill pay functionality. The company is led by CEO Steve Robert. Autobooks closed a $5.5M Series A financing round to support growth. It intends to use the funds to expand its team and product offering and to increase distribution channels. The product is positioned as an embedded service within existing online banking systems for financial institutions serving small businesses.

Participated · Series A · Apr 2017

Cirius Therapeutics (fka Octeta Therapeutics) is a clinical-stage pharmaceutical company focused on developing therapies to treat liver disease. Its lead product is MSDC-0602K, a second‑generation insulin sensitizer being evaluated for non-alcoholic steatohepatitis (NASH) and liver fibrosis. The company is actively enrolling patients in the Emminence Phase 2b clinical trial to evaluate MSDC-0602K. Cirius plans to use the proceeds from its recent financing to complete the ongoing Emminence trial. The company is led by newly appointed CEO Bob Baltera, CMO Howard Dittrich, M.D., and CBO Brian Farmer. Cirius is based in Kalamazoo, Michigan and San Diego, California and completed a Series A financing of up to $40m.

Participated · Series B · Jan 2016

Millendo Therapeutics focuses on developing novel, disease‑modifying treatments for endocrine disorders caused by hormone dysregulation. The company acquired worldwide rights from AstraZeneca to AZD4901 and will develop the compound as MLE4901, a Neurokinin 3 receptor (NK3R) antagonist for polycystic ovary syndrome (PCOS); a Phase 2a trial showed significant reductions in LH and testosterone. Millendo also develops ATR-101, a selective ACAT1 inhibitor in clinical development for adrenocortical carcinoma with potential applications in congenital adrenal hyperplasia and endogenous Cushing’s syndrome. Previously known as Atterocor, the company has rebranded to reflect a strategy to build a pipeline of endocrine therapeutics. Financially, Millendo secured a $62 million Series B led by New Enterprise Associates; the AstraZeneca license includes an upfront payment, an equity stake for AstraZeneca, development and commercial milestone payments, and royalties. The financing brought in new investors including Roche Venture Fund, Adams Street Partners, Altitude Life Science Ventures, Longwood Fund, and Renaissance Venture Capital Fund, alongside existing backers Frazier Healthcare Partners, Osage University Partners, 5AM Ventures, and the Regents of the University of Michigan. As part of the round, Tracy Saxton of Roche Venture Fund will join Millendo’s board and Carol Gallagher will represent NEA on the board. Atterocor is developing an innovative therapy as its lead program to treat adrenal cancer. The company intends to rapidly and efficiently advance its lead program to the clinic. Proceeds from a $16 million Series A financing will support accelerated development and clinical advancement. Founders include Julia Owens (CEO), Raili Kerppola (COO) and scientific advisor Gary Hammer. Adrenal cancer is a rare disease with roughly 600 U.S. diagnoses per year and few effective treatment options. Atterocor launched in 2012 and is based in Ann Arbor, Michigan.

Participated · Series B · Feb 2014

ArborMetrix provides real-time, risk-adjusted clinical performance analytics tools that enable healthcare providers and payers to improve the quality and effectiveness of surgical and other acute hospital and specialty-based care. The company is led by CEO Brett Furst and is based in Ann Arbor, Mich. In October 2014 it raised an additional $1.3M as part of its Series B financing. The new capital is intended to accelerate the company’s national market expansion. Prior to this close, the first close of the Series B was announced in July 2013 and was led by RPM Ventures with participation from Arboretum Ventures and Wolverine Venture Fund. No operating metrics or total round size beyond the additional $1.3M were disclosed in the article. ArborMetrix provides real-time, risk-adjusted clinical performance analytics tools for hospitals, health systems, specialty societies, quality collaboratives and health plans. Its platform enables customers to monitor and improve the quality, safety and cost-effectiveness of surgical and other acute and specialty-based care. Led by CEO Brett Furst, the company is based in Ann Arbor, Mich. ArborMetrix closed a Series B financing and intends to use the funds to accelerate national market expansion. The company lists Arboretum Ventures and the Wolverine Venture Fund among its investors, reflecting prior investor relationships.