Participated · Series C · Oct 2020

AZTherapies is an advanced clinical-stage biopharmaceutical company developing novel small molecules and biologic therapies intended to change neurodegenerative disease progression. Its lead candidate, ALZT-OP1, employs a multi-modal approach that targets neuroinflammation; the Phase 3 COGNITE trial in early Alzheimer’s disease is fully enrolled. The company expected trial completion in late 2020 with results anticipated in the first quarter of 2021. After the lead program, AZTherapies is advancing candidates for ALS and post-ischemic stroke cognitive impairment and is pursuing an innovative CAR-Treg program with potential broad application across neurodegenerative diseases. On the financing side, the company recently closed a $33.6M Series C-1 financing and earlier this year received $11.2M from a Series C Preferred Stock financing that raised aggregate gross proceeds of $37.5M. The company is led by Chairman and CEO David R. Elmaleh, Ph.D. AZTherapies' lead candidate is ALZT-OP1, a multi-modal therapy built on targeting neuroinflammation and microglia to slow or stop neurodegeneration. The company has a fully enrolled pivotal Phase 3 trial, COGNITE, being conducted under a Special Protocol Assessment with the U.S. FDA. Proceeds from the recent financing are intended to fund completion of COGNITE and ALZT-OP1 pre-commercial efforts. AZTherapies is also advancing a broader pipeline, including AZT-101, which the company plans to move into a Phase 2 trial for post-ischemic stroke cognitive impairment and a Phase 1/2a trial in ALS. The company is privately held and headquartered in Boston, Massachusetts. Management highlighted the financing will support completing the Phase 3 trial by the end of 2020 and continued pipeline advancement.

Participated · Series B · Jul 2014

MTPV Power Corporation develops semiconductor chips that convert heat directly into electricity. Its technology is described as analogous to a solar panel, but for any source of heat. The company is led by President and CEO David Mather and is based in Medford, MA and Austin, TX. It raised $16M in a Series C financing to support expansion. The company said it will use the funds to expand operations and broaden its business reach. The round included lead and follow-on investors supporting continued commercialization efforts. MTPV Power Corporation develops semiconductor chips that convert any source of heat into electricity. The technology was developed over roughly 15 years beginning at MIT and Draper Laboratory and has been advanced in MTPV's labs for the last five years. The company’s patent portfolio includes five awarded patents, nine pending awards and over 48 foreign patent filings. MTPV is led by Bob DiMatteo and David Mather and is based in Austin, TX and Boston, MA. It raised $11.2M in a Series B1 financing and intends to use the proceeds to begin commercializing its technology. Investors in the round include Northwater Capital Management's Intellectual Property Fund and other energy and finance investors. MTPV Power develops modular semiconductor chips that convert heat directly into electricity, based on research at MIT. The company’s chips are designed to generate electricity using 45% less heat than traditional systems. Leadership includes CEO and founder Bob DiMatteo and President/COO David Mather. MTPV is Austin, TX–based. The company completed the final closing of its Series B with an additional $3.25M. That funding closed out a round that began with a $6.75M closing in August of the prior year. MTPV develops semiconductor chips designed to convert heat directly into electricity, based on research at MIT. The company is led by CEO and founder Bob DiMatteo and is headquartered in Austin, TX. It is commercializing its first prototypes and is conducting beta testing of those initial commercial units. MTPV plans to use the new funding to expand beta testing and to scale its manufacturing capabilities. Financially, the company has completed an initial closing of its Series B and is pursuing additional equity to finish the round.