Participated · Series C · Oct 2025

Veradermics is a late clinical-stage, dermatologist-founded biopharmaceutical company focused on first-in-class treatments for common dermatologic conditions. Its lead candidate, VDPHL01, is an extended-release, non-hormonal oral minoxidil tablet positioned to become the first FDA-approved oral therapy for pattern hair loss in both women and men. VDPHL01 is currently being evaluated in three Phase 3 trials after encouraging Phase 2 male data showed average hair count increases of 37.5 hairs/cm² at two months and 47.3 hairs/cm² at four months, with 90.5 % of participants reporting improved coverage and no serious adverse events. The formulation aims to sustain minoxidil exposure to follicles while avoiding cardiac risk–related concentration spikes seen in immediate-release versions. Proceeds from the recent financing will fund completion of Phase 3 registrational trials and a planned New Drug Application submission to the FDA. Beyond VDPHL01, Veradermics is building a pipeline of differentiated dermatology products that combine proven mechanisms with innovative delivery technologies to enhance efficacy, safety, and patient convenience.

Led · Series D · Sep 2025

Avalyn Pharma is a clinical‑stage biopharma building an inhaled anti‑fibrotic platform that reformulates approved drugs for direct pulmonary delivery to reduce systemic toxicity and increase lung exposure. Its lead candidate AP01 (inhaled pirfenidone) completed a Phase Ib study and is recruiting a global Phase IIb trial; AP02 (inhaled nintedanib) finished SAD/MAD Phase I studies and is planned for Phase II, and AP03 is advancing IND support toward Phase I as an inhaled fixed‑dose combination. The company emphasizes a “inhaled delivery + local targeting” strategy to improve tolerability and enable combination regimens. AP01 has received FDA Fast Track designation. Avalyn collaborates with the US ILD Collaborative Research Network and university‑affiliated hospitals and is preparing manufacturing and supply‑chain capabilities for commercialization. Financially, the company has completed four financing rounds and raised more than $300 million to date, supporting its clinical and regulatory programs. Avalyn Pharma is a clinical-stage biopharmaceutical company developing targeted inhalation therapies for life‑threatening pulmonary diseases, including pulmonary fibrosis and other interstitial lung diseases (ILD). Its pipeline focuses on new inhaled formulations of approved medicines designed to reduce systemic exposure and deliver medication directly to the site of disease. The company’s lead clinical assets are AP01 (inhaled pirfenidone) and AP02 (inhaled nintedanib). Avalyn plans to advance AP01 into a Phase 2b trial and AP02 into a Phase 2a trial. The company will use proceeds from the financing to continue development of its portfolio of inhalation therapies for ILD and to advance its lead assets into mid-stage clinical trials. Avalyn is led by CEO Lyn Baranowski and is based in Seattle, WA.

Led · Equity · Jun 2023

Zura Bio is a clinical-stage, multi-asset immunology company focused on developing novel dual-pathway antibodies for autoimmune and inflammatory diseases. The company is developing tibulizumab (ZB-106), ZB-168, and torudokimab (ZB-880); all three assets have completed Phase 1/1b studies and are Phase 2 ready. Proceeds from the financing are intended to accelerate development of tibulizumab, including a planned Phase 2 clinical trial in systemic sclerosis and initiation of a Phase 2 trial for hidradenitis suppurativa. The company expects the net proceeds, together with existing cash and cash equivalents, to support operations through 2027. Zura Bio also plans to use funds for general corporate purposes. The company communicated these plans in a press release noting the private placement and related securities disclosures. Zura Bio is a multi-asset clinical-stage biotechnology company led by CEO Dr. Someit Sidhu and traded on Nasdaq as ZURA. Its core pipeline includes tibulizumab (ZB-106), torudokimab (ZB-880), and ZB-168. The company is focused on demonstrating the efficacy, safety, and dosing convenience of these assets across immune and inflammatory indications. Zura Bio plans to use newly raised funds to initiate a Phase 2 clinical trial of ZB-106 in systemic sclerosis, followed by a Phase 2 trial in hidradenitis suppurativa. The company reported approximately $120 million in cash and cash equivalents. It believes this cash runway will be sufficient to fund planned operating expenses and capital requirements through 2026.

Led · Equity · Dec 2021

connectRN operates a technology-enabled platform that connects nurses and aides with flexible work opportunities, allowing clinicians to select assignments matching their skill level, interests, and work environment. The platform also provides community and career support resources for nurses and aides. connectRN says it delivers reliable clinician staffing at consistent rates while giving nurses freedom to work on their terms. In the past year the company’s revenue grew by 250%. The company plans to expand to 40 states by the end of the year. connectRN is headquartered in Waltham, Massachusetts and serves clinicians across the U.S. connectRN is a tech-enabled platform that connects nurses and aides with work opportunities, career development resources, flexible shift offerings, and a peer community. The product is positioned as a digital community that empowers clinicians to find jobs "whenever, wherever and however they choose" and was conceived by a nurse. The platform has been widely adopted by clinicians and healthcare facilities and management highlights deployment into home health and hospice settings via partner collaborations. The company reported it was poised to deliver 240% organic revenue growth year‑over‑year in 2021, indicating rapid commercial traction. connectRN plans to use new capital to accelerate rapid growth in new and existing markets and to realize its vision of becoming the premier destination for nurses and aides. Headquartered in Waltham, Mass., connectRN serves the American healthcare sector.

Participated · Series D · Dec 2021

Freenome develops blood-based screening tests for early cancer detection using a multiomics platform that combines computational biology, machine learning, and other technologies. Its initial programs focus on colorectal and lung cancers, with single-cancer and tailored multi-cancer tests under development. The platform is also being evaluated with biopharma and diagnostic partners to non-invasively detect minimal residual disease (MRD) augmented by biological insights. The company has registrational studies underway, including PREEMPT CRC (>40,000 participants) and PROACT LUNG (up to 20,000 participants), plus multi-cancer research programs such as the Vallania Study (more than 6,200 participants) and additional studies totaling >10,000 paired RWD participants. Freenome intends to use the newly raised funds to advance its pipeline of single-cancer and multi-cancer early detection tests. The company is led by CEO Mike Nolan and is based in San Francisco, CA. Freenome develops a multiomics platform that uses routine blood draws to detect cancer in its earliest stages. Its core product is a blood test for colorectal cancer (CRC) being validated in the large prospective registrational study PREEMPT CRC, which is nearing completion of enrollment. The company plans to commercialize the CRC screening test and expand the platform to detect other cancers, and has reported promising data in pancreatic cancer detection. Freenome combines molecular biology, computational biology, and machine learning to identify disease-associated patterns among circulating cell-free biomarkers. Financially, Freenome announced a $300M Series D and has raised over $800M in total financing since its 2014 founding. The new funding is intended to support commercialization and further development of multi-cancer tests. Freenome has developed a comprehensive multiomics platform to detect cancer early from a routine blood draw, beginning with a colorectal cancer screening test. The platform integrates genomics, transcriptomics, methylomics, and proteomics with advanced computational biology and machine learning to recognize disease-associated patterns among circulating cell-free biomarkers. Freenome launched the PREEMPT CRC FDA registrational clinical trial in May 2020 to support approval of its first front-line blood test for colorectal cancer screening and precancerous lesion detection. The company intends to use proceeds from the financing to accelerate PREEMPT CRC toward approval, reimbursement, and commercialization, advance a pipeline of blood tests for additional cancers, and continue building its proprietary multiomics platform. Financially, Freenome closed an oversubscribed $270 million Series C that brings total financing to over $500 million since the company’s launch. The company is headquartered in South San Francisco, California. Freenome has built a multiomics platform that integrates assays for cell-free DNA, methylation, and proteins with computational biology and machine learning to detect early signs of cancer from a routine blood draw. The company’s first test targets colorectal cancer and uses a multidimensional view of tumor- and immune-derived signatures to improve sensitivity and specificity. Freenome reported promising clinical results at Digestive Disease Week showing high sensitivity and specificity in a cohort of mostly early-stage colorectal cancer patients. The company plans a pivotal validation study and intends to submit to the FDA and CMS under the Parallel Review Program for its colorectal cancer screening application. Proceeds from its recent financing will also fund expansion of laboratory infrastructure and software to support growth and future development. Freenome is headquartered in South San Francisco and was founded in 2014. Freenome is a health-technology company combining machine learning, biology and computer science to develop non-invasive disease screening assays based on cell-free DNA and other analytes. The company has collaborated with more than 25 research partners, including UCSD Moores Cancer Center, UCSF and MGH, and has processed thousands of samples through research and clinical trials. Freenome is working with five pharmaceutical companies to validate its software for clinical trial stratification and precision prescribing. The company is focused on scaling its technology and improving screening accuracy for lung, colorectal, breast and prostate cancers, with plans to address additional cancers and diseases. Proceeds from the Series A financing are being used to accelerate clinical trials, expand research, and advance its first products toward regulatory review. Headquartered in South San Francisco and launched in 2014, Freenome has raised more than $70 million since founding.