Participated · Series E · Jul 2018

Sutro Biopharma is a clinical-stage drug discovery, development and manufacturing company creating next-generation protein therapeutics for oncology and autoimmune disorders using proprietary integrated cell-free protein synthesis and site-specific conjugation platforms, XpressCF™ and XpressCF+™. Its pipeline includes cytokine-based immuno-oncology therapeutics, antibody drug conjugates (ADCs), and bispecific antibodies directed mainly at clinically validated targets. The company has two internally developed ADCs highlighted in the articles: STRO-001, in Phase 1 testing for lymphoma and multiple myeloma, and STRO-002, expected to enter clinical trials for ovarian and endometrial cancer by early 2019. Sutro also collaborates with select pharmaceutical and biotech companies to discover and develop novel therapeutics. The company plans to use recent financing to advance its oncology pipeline, further early-stage programs, and continue platform technology advancement. Sutro is led by CEO Bill Newell and is based in South San Francisco, CA. Sutro Biopharma develops new protein therapeutics using its cell-free protein synthesis technology to create antibody drug conjugates and bispecific antibodies. The company has established a cGMP facility for production of clinical supplies. It has formed partnerships with biopharma companies, including a collaboration with Celgene to design and develop novel ADCs and bispecific antibodies and to manufacture a proprietary Celgene antibody. Led by CEO William J. Newell, Sutro intends to use the funds to expand its proprietary immuno-oncology product pipeline. Founded in 2003 and based in South San Francisco, the company has raised over $90M since its founding. It secured a $26M Series D to support pipeline and manufacturing expansion. Sutro Biopharma is a San Francisco-based company developing a new generation of antibody drug conjugate therapeutics and bifunctional antibody-based therapeutics for targeted cancer therapies. The company has developed biochemical synthesis technology that allows rapid and systematic exploration of many protein drug variants to identify drug candidates. Sutro develops its own drug pipeline and collaborates with select pharmaceutical and biotech companies in the discovery and development of novel protein therapeutics. Led by CEO William Newell, the company closed a $16.5M second tranche of its Series C financing. The financing was announced on 09/05/2012. Sutro Biopharma develops and designs novel protein therapeutics and biosuperiors with site-directed modifications, including incorporation of non-natural amino acids. The company operates a biochemical protein synthesis platform used to create site-directed modified proteins. Sutro intends to use the new capital to further advance its biotherapeutics and to bring its protein synthesis platform to current Good Manufacturing Practice (cGMP) standards. It secured $36.5m in a Series C financing that consists of two tranches, with the first $20m tranche closed on Nov. 5. To date the company has raised a total of $59.5m in financing. In conjunction with the financing Dr. Chen and Armen Shanafelt, Ph.D. joined Sutro’s board of directors.

Participated · Equity · Mar 2015

Collegium Pharmaceutical develops and plans to commercialize abuse-deterrent medications using its patent-protected DETERx technology platform. Its lead product candidate is Xtampza ER (oxycodone extended-release capsules), for which the FDA accepted the New Drug Application in February 2015. The company intends to use the newly raised funds to advance Xtampza ER through potential FDA approval and a commercial launch. Collegium also plans to grow operations and advance other pipeline development programs. The company is led by CEO Michael Heffernan and focuses on treatments for chronic pain and other diseases. Collegium Pharmaceutical is a specialty pharmaceutical company in Cumberland, R.I., focused on developing treatments for chronic pain using its patent‑protected DETERx® drug delivery platform. The DETERx technology is a multi‑particulate matrix formulation in a capsule designed to provide extended‑release delivery and tamper‑resistant properties to protect against chewing, crushing, snorting and extraction for injection. The company’s lead product using the platform is COL-003, a tamper‑resistant, extended‑release oxycodone formulation. Collegium has initiated a Phase III trial for COL-003 and expects to file an NDA in 2013. The company states the platform also enables flexible dose administration (e.g., opening the capsule onto food or via a gastrostomy tube) and is covered by U.S. and international patents and applications. The Series B financing announced will support completion of development activities and the company through FDA approval of COL-003.

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.

Participated · Equity · Apr 2014

Si-Bone is a San Jose, CA-based company dedicated to developing tools and products for patients with low back issues related to certain sacroiliac (SI) joint disorders. Its core product, the iFuse Implant System, is a minimally invasive surgical option that uses titanium implants coated with a porous titanium plasma spray (TPS) to decrease implant motion and allow biological fixation for long-term fusion. The system is intended for sacroiliac fusion for conditions including SI joint dysfunction resulting from joint disruption and degenerative sacroiliitis. Si-Bone received FDA 510(k) clearance for the iFuse Implant System in November 2008 and obtained a CE mark for European commercialization in November 2010. The company is led by President and CEO Jeffrey Dunn and founder/CMO Mark A. Reiley, MD. Financially, the company raised $20M in a financing disclosed via an SEC filing, with nine unnamed investors participating and an update noting the round was led by Arboretum Ventures with participation from existing major investors. Si-Bone is a medical device company based in San Jose, California, that manufactures the iFuse Implant System, a minimally invasive surgical device indicated for fusion for certain disorders of the sacroiliac (SI) joint. The company is led by President and CEO Jeffrey Dunn. It closed a $21M growth capital financing to support its expansion plans. Si-Bone intends to use the funds to further expand in the U.S. and Europe and to enter the Middle East, Asia and South America. The financing was positioned as growth capital to fuel geographic expansion and commercial activities. No revenue or user metrics were disclosed in the article. SI-BONE develops tools and products for diagnosing and treating patients with low back issues related to sacroiliac (SI) joint disorders, led by President and CEO Jeffrey Dunn. Its core product is the iFuse Implant System®, which received FDA 510(k) clearance in November 2008 for fracture fixation and an additional clearance in April 2011 for sacroiliac joint fusion; the system obtained CE mark in November 2010. The iFuse procedure uses a small incision to deliver titanium implants coated with a porous titanium plasma spray designed to decrease implant motion, provide immediate fixation and allow biological fixation for long-term fusion. The company is conducting three prospective clinical studies: SIFI (U.S. multicenter single arm), INSITE (U.S. multicenter randomized) and iMIA (European multicenter randomized). SI-BONE intends to expand its U.S. sales organization and add resources in R&D, medical affairs, regulatory, compliance and reimbursement. It also plans to pursue regulatory approvals in over a dozen countries in Asia, the Middle East and South America and initiate commercialization in Australia, New Zealand and Hong Kong. SI-BONE is a San Jose, California-based medical device company that develops and commercializes the iFuse Implant System. iFuse is a minimally invasive surgical (MIS) device for treatment of sacroiliac joint pathology and is commercially available in the U.S. for sacroiliac joint disruptions and degenerative sacroiliitis. The procedure uses a minimal incision to deliver and implant small titanium implants coated with a porous plasma spray that acts as an interference surface designed to help decrease implant motion. The company closed a $16.0M financing round led by Montreux Equity Partners with participation from Skyline Ventures. SI-BONE intends to use the funds to expand clinical and commercial operations and to ramp up iFuse adoption. In conjunction with the financing, John Savarese, M.D., of Montreux will join SI-BONE’s board; the company is led by CEO Jeff Dunn. SI-BONE is a San Jose, California-based spinal medical device company focused on diagnosing and treating low back issues related to sacroiliac joint pathology. Its core product is the iFuse Implant System, a commercially available device in the US intended for fracture fixation of large pelvic bones and bone fragments for sacroiliac joint disruptions and degenerative sacroiliitis. The company closed $11.0m in venture capital financing led by new investor Skyline Ventures. The funding will allow SI-BONE to expand its clinical and commercial operations to market the iFuse Implant System. As part of the financing, Glenn Reicin, a partner at Skyline Ventures, will join SI-BONE’s Board of Directors.

Participated · Series C · Aug 2013

Dicerna develops RNAi-based therapeutics built on its Dicer Substrate Technology™ platform and EnCore™ Drug Delivery System to target genetically-defined and previously undruggable intracellular targets. The company plans to launch several Dicer Substrate pharmaceuticals into clinical development over the next two years and anticipates first human trials beginning in early 2014. Proceeds from its recent financing will be used to advance two or more programs into the clinic, progress other preclinical programs, and continue development of targeted delivery systems. Dicerna has collaborations and alliances with global pharmaceutical companies to support its research and development efforts. The company is an early-stage, preclinical business and the press release notes it incurs and expects to continue to incur significant operating losses. Dicerna is based in Watertown, Mass. Dicerna Pharmaceuticals develops second-generation RNAi therapeutics and delivery technologies. The company is advancing an in-house oncology program toward clinical development while progressing multiple other preclinical programs. Dicerna is developing proprietary delivery platforms, including a lipid nanoparticle system and a novel lipid platform. It is also working on targeted delivery systems that combine its Dicer Substrate siRNA molecules with targeting moieties such as peptides, aptamers, or antibodies. The company recently completed a second closing of its Series B equity financing, bringing the round total to $29M. Proceeds will be used to advance the oncology program, progress preclinical programs, and continue development of its delivery technologies. Dicerna Pharmaceuticals is a Watertown, Massachusetts-based RNAi-focused biopharmaceutical company developing novel therapeutic agents and drug delivery systems using its proprietary Dicer Substrate Technology and Dicer Substrate siRNA (DsiRNA) molecules. The company develops conjugated drug delivery systems that combine DsiRNA with targeting moieties such as peptides, aptamers, or antibodies, potentially allowing direct delivery into specific cells. Dicerna plans to use the financing to advance its lead in-house oncology program toward clinical development and to progress other preclinical programs. The capital will also be used to continue development of its conjugated delivery platforms. The company’s strategy centers on applying its DsiRNA platform across multiple disease areas and improving targeted delivery to enhance therapeutic index.