Participated · Series D · Sep 2018

PhaseBio Pharmaceuticals is a Malvern, PA-based clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for orphan diseases, with an initial focus on cardiopulmonary disorders. Its lead candidate is PB2452, a potentially first-in-class reversal agent for the antiplatelet therapy ticagrelor. The company is also developing PB1046, an ELP-based once-weekly vasoactive intestinal peptide receptor agonist for the treatment of pulmonary arterial hypertension. PhaseBio leverages a proprietary ELP biopolymer technology platform intended to enable less-frequent dosing and improved pharmacokinetics. It closed a $34M Series D financing that included conversion of existing convertible promissory notes. The company intends to use the proceeds to advance clinical development of PB2452 and PB1046. PhaseBio is led by CEO Jonathan P. Mow. PhaseBio Pharmaceuticals develops therapies for the treatment of orphan diseases by leveraging its proprietary elastin-like polypeptide (ELP) biopolymer technology platform. Its lead development candidate, PB1046, is a once-weekly vasoactive intestinal peptide (VIP) receptor agonist for the treatment of pulmonary arterial hypertension (PAH). The company is clinical-stage and intends to use recent funding to advance its expanded clinical pipeline. PhaseBio secured financing in late 2017 that improved its near-term liquidity and supports ongoing clinical programs. The company drew on both debt and convertible note capital in the transaction. PhaseBio is based in Malvern, Pennsylvania. PhaseBio is a clinical-stage biopharmaceutical company developing biopolymer-based drugs for orphan diseases, with an initial focus on cardiopulmonary disorders. Its proprietary elastin-like polypeptide (ELP) platform is designed to control half-life, bioavailability and physical characteristics to enable less-frequent dosing and improved patient compliance. The company's lead candidate, PB1046, is a first-in-class weekly vasoactive intestinal peptide (VIP) receptor agonist being developed for pulmonary arterial hypertension and other cardiopulmonary indications, including cardiomyopathy associated with DMD/BMD and cystic fibrosis. PhaseBio closed $14.7 million in convertible notes to advance PB1046 and has the opportunity to increase the financing by up to $2.75 million from additional investors. The proceeds will support a Phase 2 study of PB1046 for PAH expected to initiate in the first half of 2017, continued evaluation in additional indications, and development of new pipeline products based on the ELP platform. The company is privately owned and headquartered with research laboratories in Malvern, PA. PhaseBio Pharmaceuticals, led by CEO Jonathan P. Mow, is advancing long-acting peptide therapeutics using its proprietary Elastin-Like Polypeptide (ELP) technology to extend half-life and stability while retaining native potency. Its lead programs include PE0139, a once-weekly basal insulin for type 2 diabetes, and PB1046, a recombinant vasoactive intestinal peptide candidate targeting cardiopulmonary pathways. The company plans to move PE0139 into Phase 2a testing for type 2 diabetes and to advance PB1046 into separate Phase 2a trials for heart failure and for cardiomyopathy in Duchenne and Becker muscular dystrophy. PhaseBio is headquartered in Malvern, Pennsylvania. In December 2015 it secured $40M in Series C funding to support these clinical programs. The company’s platform and pipeline strategy center on extending peptide half-life to enable less-frequent dosing and broaden therapeutic utility. PhaseBio is a clinical-stage biopharmaceutical company that uses an elastin-like polypeptide (ELP) platform to extend half-life, improve bioavailability and control pharmacokinetics of therapeutic proteins. Its lead candidates include Glymera (a GLP-1 analogue for type 2 diabetes), Vasomera (a VPAC2-selective/VIP agonist for hypertension, heart failure and pulmonary arterial hypertension) and Insumera (an ELP-fused mature insulin). The company announced a total of $48.4M raised in its Series B after receipt of a third tranche, with an additional $23M provided by existing investors. Proceeds are earmarked to support a Phase 2b study of Glymera, a Phase 1 study of Vasomera in stage 1–2 essential hypertension, additional preclinical work for Vasomera in heart failure and pulmonary hypertension, and to complete a Phase 1/2a study of Insumera. PhaseBio is privately held and headquartered in Malvern, Pennsylvania.

Participated · Series B · Mar 2018

TCR2 Therapeutics develops a novel class of T cell receptor (TCR)-based cellular therapies that harness the full signaling power of complete TCRs without HLA‑matching. Its proprietary multi-format TRuC™ platform reprograms the natural TCR complex to drive rapid cancer-cell killing with long persistence and low cytokine release. The company is advancing both solid tumor and blood cancer programs from this platform. Proceeds from the recent financing will advance two TRuC™-T cell programs through human proof-of-concept, including lead solid tumor candidate TC-210 targeting mesothelin. TCR2 also plans to expand its platform with dual-target TRuC™, immune cell enhancements and allogeneic technologies. The company is led by CEO Dr. Garry Menzel and is based in Cambridge, MA.

Participated · Equity · Jun 2017

Orig3n is a Boston-based biotech research company focused on genetics and regenerative medicine. It provides consumers access to genetic information to enable proactive, personalized health choices and conducts R&D into cell therapies. The company invests in cellular science to develop personalized therapies for repairing tissue damage and disease. Orig3n maintains a large allogeneic bank of cells that is HLA-matched to 90% of the U.S. population, which underpins its regenerative-medicine programs. It plans to use recent funding to expand domestically and internationally and to continue R&D to advance its regenerative treatments. As of the Series B, Orig3n has raised over $50 million since its 2014 founding. ORIG3N focuses on genetics and regenerative medicine, offering a line of direct-to-consumer genetic tests while advancing cellular science to develop personalized therapies. The company operates what it describes as a fully-matched allogeneic cell bank and is intensifying research into cell therapies. ORIG3N emphasizes community‑driven, patient-fueled research and cultivates engagement through events and educational initiatives. Management says the company is increasingly consumer-facing and aims to accelerate the future of regenerative medicine. ORIG3N was founded in 2014 and is positioning its research and community assets to support therapeutic development. Financially, the company has raised over $30 million in capital to date. Orig3n is a Boston, MA-based biotech company that develops a disease-modeling platform targeting rare and genetically inherited diseases using iPSC-derived differentiated cells. The company closed a $12.5m Series A financing to advance its programs. It will use the funds to launch LifeSystems™ cellular models created from its LifeCapsule™ bio-repository. Orig3n launched the LifeCapsule bio-repository, a living database and large bank of induced pluripotent stem cells to which anyone can contribute. The platform is intended to advance screening projects and deliver data to inform therapeutic decisions, aiming to replace trial-and-error approaches to treating disease. Orig3n was founded in 2014 by Robin Y. Smith. ORIG3N, based in Boston, MA, is developing a disease-modeling platform targeting rare genetically inherited diseases. Led by CEO and co-founder Robin Y. Smith, the company’s core product is the Life Capsule™, a bio-repository open to public contribution. The Life Capsule collects a small amount of blood and reprograms cells into induced pluripotent stem cells (iPSCs). These iPSCs are used for disease modeling outside the body to support critical medical research and potential individualized therapy. The company intends to use the newly raised funds to expand its Life Capsule offering. ORIG3N recently raised $3.1M in funding from institutional backers.

Participated · Series B · Aug 2016

Honor is a San Francisco-based startup that provides technology-enabled in-home care for older adults, matching employed caregivers (“Care Pros”) with clients and selling its operating system to other agencies. Founded in 2014 and launched in 2015, Honor shifted in 2016 to make caregivers employees with benefits to reduce turnover and improve continuity of care. The company acquired global home care provider Home Instead two months before the financing, creating a combined organization representing more than $2.1 billion in home care services revenue and expanding Honor’s reach nationwide. Honor now serves over 100,000 older adults every month and will provide more than 80 million hours of care annually; care professionals spend about 20 hours per week on average in a client’s home. The company plans to use the new capital to further invest in its technology, expand the platform across the Home Instead network, and triple the size of its engineering and product team within the next year. Honor’s platform supports caregiver recruiting, training, scheduling and performance analysis and the company sells its OS to partner agencies that are “powered by Honor.” Honor provides a comprehensive home-care solution currently available in San Francisco and Los Angeles, serving older adults who wish to live in their own homes. The service pairs high-quality care professionals with smart, easy-to-use technology to make scheduling, delivering, and managing care faster and more effective. Honor’s platform emphasizes quality of care and caregiver matching to promote joy, comfort, and grace for clients. The company positions itself as both a care provider and a technology operator that streamlines home-care logistics. Public reporting about the company highlights its product features and geographic availability rather than financial metrics or user counts. Honor recently completed a significant financing event, indicating outside investor confidence in its model. Honor is a comprehensive home care company for older adults based in San Francisco. Its core product is the Honor Care Network, which gives home care agencies access to caregivers, technology, and a full support operations solution. That operations solution handles caregiver recruiting, payroll, billing, insurance, legal, and compliance for partner agencies. The company recently added seven home care agency partners to its network and is actively seeking partners in California, Texas, and New Mexico. Honor is led by CEO Seth Sternberg and intends to use new funding to rapidly expand the Honor Care Network nationally. The round brings the company’s total funding to $115M. Honor is a San Francisco-based provider of home care for older adults that combines professional caregivers with proprietary app technology. Led by CEO and co-founder Seth Sternberg, the company operates in the San Francisco Bay Area and Los Angeles. Honor raised $42m in a Series B to accelerate product development and enhance its go-to-market growth strategy. The company said it will use the funds to hire Care Pros, Care Operations managers, engineers and salespeople. To date, Honor has raised $62m in venture funding. Honor operates an online platform that connects screened in-home caregivers with seniors and their families and supplies an "Honor Frame" that shows caregiver identity and arrival times. Caregivers are screened and matched to seniors based on expertise, and families receive records of who provided care, what activities were done, and how long caregivers stayed. The company focuses on non-medical daily living assistance such as helping seniors get out of bed and eat breakfast. Honor intends to pay caregivers a minimum of $15, above the roughly $9.50 average cited in the industry. Founder Seth Sternberg piloted the program in Contra Costa County with about 100 caregivers and plans a beta later this month, followed by expansion to San Francisco. Sternberg has stated a long-term ambition to enlist up to 2 million caregiving professionals to scale the service.

Participated · Series B · Jun 2015

Cynvenio Biosystems is a commercial-stage clinical diagnostics company that develops the LiquidBiopsy multi-template technology for molecular characterization of tumor cells from a standard blood draw. The platform delivers ultra-high sample purity and recovery enabling downstream molecular analysis by next-generation sequencing and PCR, and supports simultaneous analysis of ctcDNA, ctDNA, and germline DNA from a single blood sample. Cynvenio’s product suite includes automated instrumentation, consumables and reagents, patient sample kits, and bioinformatics. Its ClearID blood test is available from the company’s CLIA lab or clinical partners and is reimbursable in the United States. The company plans to use proceeds from the financing to advance clinical development and commercialization programs and to establish commercial and customer support infrastructure. Cynvenio is headquartered in Westlake Village, California (Los Angeles) and is establishing a China-based joint venture backed by an additional $10 million, bringing committed capital for this phase to $35.5 million.