Participated · Equity · Jul 2019

Exagen is focused on transforming care for patients with debilitating and chronic autoimmune diseases by enabling timely differential diagnosis, prognosis, and monitoring. The company commercializes a portfolio of testing products under its AVISE brand, several of which are based on its proprietary Cell-Bound Complement Activation Products (CB-CAPs) technology. CB-CAPs assess activation of the complement system, a pathway implicated across many autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA). Exagen launched a therapeutics promotion business earlier this year and intends to continue growing its testing business by commercializing products in its R&D pipeline and expanding its sales force footprint. Its flagship test, AVISE CTD, has been ordered over 300,000 times since its 2012 launch. The company’s business model integrates testing products and therapeutics to offer targeted solutions to rheumatologists and better serve patients. Exagen Diagnostics is a commercial-stage specialty diagnostics company based in Vista, CA and Albuquerque, NM that focuses on autoimmune connective tissue diseases. It operates a College of American Pathologists (CAP)–accredited, CLIA‑certified rheumatology specialty laboratory led by CEO Ron Rocca. The company commercializes proprietary Cell Bound Complement Activation Products (CB-CAPs) technology and a suite of AVISE® tests for diagnosis, prognosis and monitoring of conditions such as SLE, RA and APS. Its AVISE portfolio includes disease-specific assays (AVISE CTD, AVISE SLE Prognostic, AVISE SLE Monitor, AVISE APS) and therapeutic drug monitoring tests (AVISE MTX, AVISE HCQ). Exagen received up to $25M in debt financing in the form of term loans provided by an affiliate of Innovatus Capital Partners. The company intends to use the funds to accelerate commercialization of its CB-CAPs technology. Exagen Diagnostics is a commercial-stage specialty diagnostic company that develops and commercializes novel diagnostic products to enable physicians to accurately diagnose patients. The company operates a CLIA-certified, CAP-accredited laboratory in Vista, Calif., and maintains corporate offices in Albuquerque, N.M. Leadership includes Ron Rocca (president and CEO) and Curt LaBelle, M.D. (chairman of Exagen and managing director at Tullis Health Investors). Exagen recently raised equity capital to support its growth. The company intends to use proceeds for market expansion and development of near-term pipeline products. No operating metrics beyond the fundraising and locations were provided in the article.

Led · Series C · Dec 2015

TriSalus Life Sciences develops a drug delivery platform that includes devices using its proprietary Pressure-Enabled Drug Delivery (PEDD) approach and a clinical-stage investigational immunotherapy, nelitolimod. The company has two FDA-cleared devices: the TriNav® Infusion System for hepatic arterial infusion to liver tumors and the Pancreatic Retrograde Venous Infusion System for pancreatic tumors. PEDD is designed to modulate pressure and flow to deliver more therapeutic to tumors while reducing undesired delivery to normal tissue. Nelitolimod is intended to treat the immunosuppressive tumor environment that can limit current immunotherapies, and patient data from Pressure-Enabled Regional Immuno-Oncology (PERIO) clinical trials support the hypothesis that nelitolimod delivered via PEDD may have favorable immune effects. TriSalus plans to study nelitolimod delivered by PEDD across several indications where TLR9 is expressed and mechanical delivery barriers exist. The company works in partnership with leading cancer centers to advance its technology and clinical programs. Following the recent financing, TriSalus expects its cash runway to extend through 2025. Surefire Medical develops, manufactures and markets targeted delivery devices for the Interventional Oncology market centered on its Surefire Infusion System (SIS), a microcatheter with an expandable tip that increases infusion pressure and blocks backflow. The SIS is designed to deliver significantly more therapy into tumors while protecting healthy tissue. Clinical data cited include a randomized trial showing 68% improved tumor uptake and 58% decreased non-target delivery, a registry reporting 68% complete tumor response and 92% objective response, and a retrospective comparison showing a 79% versus 37% objective response for HCC. The company plans to use new financing to expand sales and marketing in the U.S. and Europe, initiate sales and clinical trials in China, and complete the 170-patient randomized QED trial (NCT02748161). Surefire is also pursuing opportunities in the $66B immunotherapy market, targeting site-specific delivery to solid tumors. The company is based in Westminster, Colo. Surefire Medical develops infusion and direct-to-tumor delivery systems for the interventional radiology and interventional oncology markets. Its flagship device, Surefire Precision, is specifically designed for targeted delivery in the treatment of primary liver cancer (HCC). The company is commercial stage and has received regulatory approvals in the U.S., Europe, Canada, Australia, New Zealand, Taiwan, Mexico and Brazil. Founded in 2009 and led by President and CEO James Chomas, the company is based in Westminster, Colorado. Surefire plans to use the new funding to support the global launch of Surefire Precision. It closed a $15M Series C in February 2015 to fund those commercial expansion efforts. Surefire Medical develops infusion systems designed to deliver embolic agents through a microcatheter using an expandable tip that collapses in forward flow and expands to the vessel wall in reverse flow. Its product family includes the Surefire Infusion System (ST, LT, mT) and specialty catheters. The company is commercial-stage and its devices have received regulatory approvals in the U.S., Europe, Canada, Australia, New Zealand and Taiwan. Surefire intends to use the financing to expand product development, clinical trials, operations and marketing. The company was founded in 2009 and is led by CEO Jim Chomas. It is based in Westminster, Colorado.

Participated · Series B · Oct 2015

CareSync provides software and services for chronic disease management, combining technology with 24/7 nursing services to facilitate care coordination among patients, family, caregivers and providers. The company offers turnkey Chronic Care Management (CCM) services and a software-only option that helps practices meet billing requirements for CPT code 99490 and certified technology to meet Meaningful Use 2 for data exchange, messaging and timely access. CareSync’s platform collects, organizes and shares health information to help patients manage care and enable providers to collaborate and complete Medicare CCM requirements. Demand has surged: the user base grew 20-fold in the prior four months and the company reported nearly 100% month-over-month revenue growth in 2015; it now serves more than 100 locations caring for over 300,000 chronically ill Medicare beneficiaries. Direct-to-consumer demand has also risen amid healthcare consumerization, and CMS’s chronic care management program (estimated at $17.25 billion annually) has helped drive adoption. The company plans to use new funding to expand its platform and workforce, including hiring 500 employees over the next 18 months. CareSync is a Tampa, FL-based provider of a patient-centered care coordination platform. The platform combines high-tech and high-touch services, enabling Health Assistants to collect patients' medical records and build a Health Timeline accessible by patients, families, and care teams via web, iPhone, and Android apps. The app includes tools for visit planning, task management, medication adherence, vitals tracking, and syncing with wearable devices. CareSync currently has members in all 50 states and in other countries around the globe. The company plans to use the funds to scale operations, expand its national reach, increase sales and marketing resources, and further develop its care coordination platform. It raised a $4.25M Series A to support these plans.

Led · Series C · Mar 2015

OrthoSensor develops VERASENSE™, a disposable sensor-assisted instrument for total knee replacement that wirelessly delivers intraoperative data to guide ligament and implant positioning. The device enables surgeons to make evidence-based decisions on soft tissue balance and implant position in real time. The company is led by President and CEO Ivan Delevic. OrthoSensor raised new financing to support commercialization of VERASENSE and to expand product development activities. The funding round reflects the company’s effort to advance its core product toward broader market adoption. The company is based in Dania Beach, Florida. OrthoSensor develops and commercializes intelligent orthopaedic devices and data services. The company is led by President and CEO Jay Pierce and has developed the VERASENSE Knee System, an intelligent single-use device that provides surgeons with real-time, quantifiable data on implant placement, soft tissue balance and limb alignment. OrthoSensor closed a Series B-2 financing round that brought the total raised in the round to more than $48M. Series B investors included Dignity Health, Ziegler Meditech Equity Partners and undisclosed strategic and angel investors. The company intends to use the funds to grow the VERASENSE product line and to execute R&D, marketing and sales initiatives. OrthoSensor is based in Dania Beach, Florida. OrthoSensor develops and commercializes intelligent orthopedic devices across three product platforms: OrthoSensor Surgical, OrthoSensor Implantables and OrthoSensor Analytics. Its first product, the OrthoSensor™ Knee Balancer, is embedded with sensors that provide surgeons with actionable data on implant fit and knee kinematics to ensure proper soft tissue balance during total knee arthroplasty. The company plans to expand commercialization of the Knee Balancer and to launch a line of additional intelligent orthopedic devices. OrthoSensor closed an additional $15M in Series B financing, bringing the total Series B to $36M. The funding is intended to support commercialization and product launches. The company is led by CEO Jay Pierce and is based in Sunrise, Florida. OrthoSensor develops intelligent orthopedic devices and sensor-assisted surgery systems that provide surgeons with real-time, actionable information about implant placement and performance. Its technology targets knee, hip and shoulder replacement procedures as well as spinal and trauma applications. The company markets product lines named OrthoSensor Surgical, OrthoSensor Implantables and OrthoSensor Analytics. CEO Jay Pierce stated the company intends to use the new funding to move into the commercialization phase for these products. The company completed a $21M Series B financing to support that commercialization push. No operating metrics were disclosed in the article.

Participated · Equity · Dec 2010

Estech is a San Ramon, California–based medical device company focused on a minimally invasive cardiac ablation platform that allows surgeons to treat atrial fibrillation endoscopically through three small chest ports. The procedure typically takes 60–90 minutes and, in some cases, can be performed under epidural rather than general anesthesia. The device holds a CE mark in Europe for treating atrial fibrillation and has received FDA 510(k) clearance for cardiac ablation in the United States. Estech’s technology aims to shorten procedure times and reduce patient trauma compared with traditional open-heart ablation surgeries. The company plans to use newly raised capital to advance further development of its platform. Over the past two years, Estech has secured more than $28 million in total funding, underscoring sustained investor confidence in its solution.