Participated · Series B · Nov 2025

Elephas Biosciences has built the Elephas Live™ Platform, an ex-vivo, live-tumor-profiling system that maintains a biopsy’s native tumor micro-environment while addressing tumor heterogeneity. The platform functionally characterizes immune response in real time, enabling clinicians to better predict whether a cancer patient will benefit from immunotherapy. With only one in five patients currently responding to immunotherapy, Elephas aims to raise overall response rates and expand patient eligibility by providing more accurate predictive data. The company plans to launch the platform in 2026 as a laboratory developed test (LDT) to accelerate clinical adoption. Recent additions to its Scientific Advisory Board, including Jérôme Galon, Ph.D., and Janis Taube, M.D., signal continued scientific validation efforts. Headquartered in Madison, Wisconsin, Elephas is privately held and backed by a syndicate of life-science investors. The newly secured funding will finance commercialization activities and further technology development.

Participated · Series D · Aug 2024

HistoSonics develops a non-invasive therapeutic platform based on histotripsy, a focused-ultrasound technology that uses acoustic cavitation to mechanically destroy and liquefy targeted tissue. Its flagship product, the Edison® Histotripsy System, received U.S. FDA De Novo clearance for the destruction of liver tumors and has seen expanding clinical adoption at academic medical centers and health systems. Use of the system outside the liver remains investigational while the company pursues regulatory clearances for additional organs. HistoSonics has submitted a De Novo request to the FDA for kidney tumors and is advancing toward an anticipated FDA submission for pancreatic applications. The company is focused on commercializing the Edison System in the U.S. and select global markets while expanding indications into kidney, pancreas, prostate and other organs. HistoSonics maintains offices in Ann Arbor, MI, Madison, WI, and Minneapolis, MN, and was valued at $3.75 billion in its most recent financing.

Participated · Series C · Dec 2015

EatStreet operates a software platform that lets restaurants—primarily in smaller cities and college towns—accept online and mobile orders; it supplies restaurants with a tablet free of charge. The company focuses exclusively on ordering rather than delivery, leaving fulfillment to restaurants or local providers. EatStreet charges a 12% fee on orders, sells paid placement ads in its apps, and pays restaurants their 88% share weekly. It works with about 15,000 restaurants across 250 cities and serves “millions” of customers, and has reported triple‑digit revenue growth in recent years (revenues not disclosed). Founded in 2010 and built out of Madison, Wisconsin, the company has remained relatively capital‑efficient compared with delivery-focused peers. EatStreet does not disclose its valuation. EatStreet provides an online and mobile food ordering service that lets customers order from restaurants via web and mobile apps and integrates with partner platforms. The company integrates into the Yelp Platform, enabling users to order directly from thousands of restaurant pages on Yelp. EatStreet also orchestrates digital loyalty programs with its restaurant partners, where diners can earn coupons. Led by CEO and co-founder Matt Howard, the company intends to use new funding to further develop its iOS and Android apps, expand into new markets, and double its engineering team. The article reports an additional $4M in funding from backers including 4490 Ventures and the State of Wisconsin Investment Board. EatStreet previously raised $6M in April 2014. EatStreet offers restaurants a one-stop software solution for online and mobile ordering, including custom websites and apps, Facebook integrations, menu and order management dashboards, reporting, coupons and marketing tools. The company initially gained traction in Madison after being founded in 2010 by Matt Howard, Alex Wyler and Eric Martell, and expanded to nearly two dozen cities by last February. EatStreet reports 300% average annual sales growth and says annual revenue more than tripled from 2012 to 2013, though it does not disclose absolute revenue figures. In the past three months the service added over 3,000 restaurants and expects to serve more than 15,000 restaurants in 150 U.S. cities by year-end. With the new funding EatStreet plans to heavily focus on product—revamping its iOS and Android apps and its mobile website—and has doubled its development team to support that work. The company is also pursuing aggressive national expansion into 75+ cities, including larger markets like L.A. and Chicago. EatStreet provides a platform approach to restaurant online ordering, delivering websites, mobile apps, mobile sites, Facebook ordering, and listings on EatStreet.com. Restaurants receive setup at no cost and EatStreet takes a commission on sales, reported at roughly 8–10%. The company was started by University of Wisconsin students in 2009 and has grown to more than 1,000 restaurants across about 20 cities, primarily on the East Coast and in the Midwest. EatStreet has 14 full‑time employees and says it is nearly profitable while preparing to scale nationwide. It targets smaller 200,000–500,000‑person markets where many restaurants lack websites and aims to be a one‑stop shop for those businesses. The expansion strategy emphasizes replicable, "cookie cutter" market rollouts and adding roughly two employees per new market.

Participated · Series A · Aug 2015

FluGen is developing REDEE FLU, a novel single-replication live influenza vaccine that infects cells and expresses influenza RNA and proteins but does not produce infectious virus. In multiple preclinical animal models REDEE FLU has been safe, induced robust innate, antibody and cellular immune responses, and protected against mismatched or "drifted" influenza strains. The company plans to complete preclinical testing, run an initial Phase 1 human clinical trial, and prepare a quadrivalent vaccine candidate. FluGen completed a $12 million Series A to support these development and clinical activities. The company was founded in 2005 and is based in Madison, Wisconsin, and its lead technology was invented at the University of Wisconsin–Madison and exclusively licensed to FluGen by WARF. FluGen has also added experienced vaccine executives to its board to support development, commercialization and partnering efforts.

Participated · Series A · Apr 2014

Neurovance is a clinical-stage, privately held neuroscience-focused company headquartered in Cambridge, Massachusetts, developing EB-1020 SR, a non-stimulant candidate for all subtypes of adult ADHD. Interim phase 2a pilot data disclosed a statistically significant 21-point improvement on the ADHD-Rating Scale-IV after 4 weeks (p<0.0001), with final data and secondary assessments scheduled for presentation at the Society for Biological Psychiatry. The company plans to initiate a human abuse liability (HAL) study to evaluate EB-1020's abuse potential versus standard stimulants and aims to expand development to adolescents and children after demonstrating safety and efficacy in adults. Management is led by co-founder and CEO Anthony A. McKinney and other experienced neuroscience drug developers. Neurovance says EB-1020 may offer stimulant-like efficacy with lower abuse potential, addressing a large ADHD market dominated by stimulants. Neurovance was spun out of Euthymics Bioscience to advance EB-1020, a norepinephrine- and dopamine-preferring reuptake inhibitor intended for adult ADHD. The company recently completed a Phase 1 trial in healthy subjects in which EB-1020 was well tolerated and demonstrated a wide therapeutic index. EB-1020’s pharmacology combines potent NE reuptake inhibition with moderate DA inhibition and very modest 5-HT inhibition, suggesting potential symptomatic and comorbidity benefits with low abuse liability. Neurovance also holds a portfolio of research-stage reuptake inhibitors for other CNS disorders. Management includes team members who were involved in development of Strattera, positioning the company to leverage prior ADHD drug-development experience. The company is headquartered in Cambridge, Massachusetts, and has secured new financing to advance clinical development.