The Venture Codex

Participated · Series C · Oct 2015

TVA Medical is an Austin, Texas-based medical device company developing minimally invasive therapies for chronic kidney disease and other medical conditions. Its core product is a catheter-based system that uses an endovascular approach to create an arteriovenous fistula (AVF) by joining an artery to a vein in patients who require hemodialysis. The company's technology provides vascular access to connect patients to dialysis machines. Led by president and CEO Adam Berman, TVA Medical is advancing clinical and market development work. The company received a $7M credit facility from Square 1 Bank to fund global clinical and market development initiatives. The financing was reported by FinSMEs on December 14, 2016. TVA Medical, based in Austin, Texas and led by president & CEO Adam L. Berman, develops the everlinQ™ endoAVF System, a catheter-based technology to create hemodialysis access for chronic kidney disease patients. The system uses two thin, flexible magnetic catheters inserted into an artery and vein in the arm; a small burst of radiofrequency energy connects the vessels to create a fistula and the catheters are removed. The device has been studied outside the United States and has received CE mark but is not available in the United States and has not been approved by the U.S. Food and Drug Administration for commercial use. TVA completed a $15M Series C financing and intends to use the funds to continue clinical activities and accelerate market development for the everlinQ system. The capital will support the ongoing clinical study (a 12-month follow up scheduled to complete in 2016) and additional global clinical research. Funds will also be used for device reimbursement and market-access initiatives. TVA Medical, founded in 2008 and based in Austin, Texas, develops a minimally invasive catheter-based system that allows physicians to create an arteriovenous fistula to deliver hemodialysis to patients with end-stage renal disease. The technology is being studied outside the United States and is currently not available in the U.S. The company raised $9.5M in a Series B financing led by S3 Ventures, with participation from TriStar Technology Ventures and existing investor Santé Ventures. TVA intends to use the funds to further validate its endovascular technology and complete additional clinical studies to support worldwide regulatory approvals. The company was founded by Santé Ventures, William (Billy) E. Cohn, MD, and CEO Adam L. Berman. TVA plans to seek Food and Drug Administration clearance in the future. TVA Medical is an Austin, Texas–based medical device company focused on developing minimally invasive therapies for end-stage renal disease (ESRD). The company was formed in partnership with founder William (Billy) Cohn, MD, a cardiovascular surgeon and Director of Minimally Invasive Surgical Technology at the Texas Heart Institute. TVA plans to complete product development and to conduct human clinical trials using the proceeds from its recent financing. TVA raised $2.6M in a Series A investment from early-stage life science venture capital firm Santé Ventures. In conjunction with the financing, Adam Berman will join TVA as CEO, and Santé’s Cunningham and Kevin Lalande will serve on TVA’s board of directors. Cohn has also joined Santé Ventures as a Venture Partner.

Participated · Series C · May 2015

NuSirt Biopharma uses a patented platform that combines the amino acid leucine with existing pharmaceuticals to activate sirtuin pathways and improve treatment of metabolic diseases. Its lead program pairs leucine with metformin to attempt glucose control at lower metformin doses; preclinical data show amplified effectiveness and a potential to reduce side effects. The company is completing a Phase 2A clinical trial in Type 2 diabetes enrolling more than 90 subjects, with results expected this summer. A second program combines leucine with PDE5 inhibitors to target NAFLD and NASH; NuSirt plans to initiate a Phase 2A study for that indication this fall pending regulatory feedback. The company holds an IP portfolio with three issued/allowed patents and nine active patent families. NuSirt is headquartered in Nashville and recently announced additional financing to support R&D and program advancement.

Led · Series A · Nov 2014

Evermind builds passive home-monitoring hardware that uses everyday appliances (eg, coffee machines and TVs) as proxies for human activity to detect deviations from routine without cameras or motion sensors. The system notifies caregivers via text message when activity patterns change. Devices connect over Verizon's cellular network so they do not require users to have Wi‑Fi. The company sells direct to consumers from its website and through home medical device retailers. Evermind also develops accessories for medical devices (lift chairs, ventilators) and plans to roll those accessories out to several at-home devices. The company was formed in 2012 by CEO and co-founder Dave Gilbert with five former Griffin Technology employees; Paul Griffin sits on Evermind’s board. Financially, Evermind closed a $2.5M Series A to fund marketing and to prepare for a Series B in early 2015.

Participated · Series A · Apr 2014

Bjond offers BjondHealth, a suite of workflow automation, decision support, and behavior change tools designed to improve care management and drive behavior change among chronically ill and worried well people. The platform bundles workflow automation with decision-support and behavior-change features to support care managers and patients. The company is led by CEO David Blauer and operates out of Boston, MA and Columbus, OH. Bjond intends to use new funding to accelerate implementation of BjondHealth’s latest version. The company closed a Series A financing to support product development and deployment.

Participated · Series B · Apr 2010

onFocus Healthcare provides web-based enterprise performance management software (onFocus|epm) for executive teams across healthcare organizations. The product is used by large for-profit systems, community and non-profit hospitals and large academic medical centers to ensure accountability and achieve critical business objectives. The company plans to use proceeds from its recent Series B to support ongoing sales and marketing of onFocus|epm. The articles report a $3M Series B led by Clayton Associates’ FCA Venture Partners IV, signaling investor support for growth. A portion of the round was funded through Tennessee's TNInvestco program. Solidus led the company’s prior Series A, which also included Kestrel and Heritage.