Participated · Series C · Jun 2020

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 · May 2020

Arterys is a San Francisco, CA-based global medical imaging platform that delivers clinical AI products over the internet. Led by co-founder and acting CEO John Axerio-Cilies, the company provides a web-based, AI-powered, FDA-cleared cloud-native viewer and platform. It operates a marketplace and ecosystem of partners to develop and deliver clinical applications built on its platform. The company raised $28m in a Series C to broaden that ecosystem and accelerate partner efforts. Arterys plans to extend its proprietary technology to application partners to make it easier for clinicians to integrate AI into their workflows from a single interface. The company emphasizes accelerating partners’ efforts to bring new clinical-grade AI applications to providers through its platform. Arterys is a San Francisco-based provider of a web-based AI platform for medical image analytics that enables physicians to process patient imaging cases with embedded AI algorithms. The cloud platform supports MRI and CT and offers image interpretation, case sharing, and automated reporting. Its proprietary technology protects patient information and complies with U.S. and EU data privacy regulations. Arterys' Cardiac MRI suite was the first product of its kind to obtain FDA clearance for use as a diagnostic support tool and is also cleared in Canada and the EU. The platform and cardiac MRI suite have been used to help diagnose more than 15,000 patients worldwide. The company plans to use the new funding to expand its web-based AI platform, launch oncology and neurology products, and accelerate commercialization of its cardiac offering. Arterys develops deep-learning diagnostic software for medical imaging that connects to standard MRI machines to enable non-invasive, precise quantitation of blood flow. The cloud-based platform uploads 10-minute chest MRI scans to a HIPAA-compliant server for computation and presents results in a web browser for clinician interaction and rapid approval of quantitative analyses. The solution targets cardiovascular applications including structural heart disease, congenital heart disease, carotid/neurovascular and renal vascular disease. The company plans to expand commercial operations for its visualization and quantification algorithm using proceeds from its recent Series A. The platform has regulatory clearances—CE Mark and U.S. FDA market clearance (March 2014)—and is already used for research at leading hospitals in the U.S. and Europe. Arterys anticipates broader distribution through ViosWorks in up to 7,000 GE MRI machines in H2 2016; the company is led by founder and CEO Fabien Beckers.

Participated · Equity · Jan 2020

ZAP Surgical Systems, based in San Carlos, Calif., designs and manufactures the ZAP-X Gyroscopic Radiosurgery platform, the industry’s first dedicated gyroscopic cranial radiosurgery system. The ZAP-X uses gyroscopic movement to deliver beams from thousands of potential angles for precise tumor targeting while prioritizing protection of healthy brain tissue and preservation of cognitive function. Its vault-free and cobalt-free design removes the need for shielded treatment rooms and radioactive isotopes, lowering infrastructure and operational burdens for providers. The company positions the technology as a way to expand access to stereotactic radiosurgery, which could benefit more than five million patients annually though only about 200,000 currently receive optimal SRS care. ZAP Surgical plans to use new financing to accelerate manufacturing, sales, and distribution of the ZAP-X to reach more patients globally. Founder and CEO John R. Adler emphasized the company’s mission to make state-of-the-art radiosurgery more accessible. ZAP Surgical Systems designs and manufactures the FDA-cleared ZAP-X® radiosurgery platform, an integrated robotic software and hardware solution for image-guided stereotactic radiosurgery of tumors, lesions and conditions in the brain, head and neck. The ZAP-X incorporates a self-shielded design that typically eliminates the need for traditional radiation vaults, enabling point-of-care delivery in physician offices, ambulatory surgery centers, and satellite facilities. The company is led by founder and CEO John R. Adler, MD, a Stanford Professor of Neurosurgery. ZAP Surgical intends to use the new funding to accelerate commercialization of its ZAP-X surgical robot for the treatment of cancer and other brain disorders. The company is based in San Carlos, Calif., and has now raised more than US$160m in financing to date. The platform and commercialization focus are the principal drivers of the current financing and go-to-market plans.

Led · Equity · Oct 2019

Oncora Medical offers Oncora Patient Care, a documentation, workflow and decision‑support platform that captures data about cancer patients, treatments and clinical outcomes. The company is building a predictive modeling platform to support treatment design that minimizes toxicity and maximizes chances of cure. In September Oncora announced a partnership with Palo Alto‑based Varian Medical Systems; Varian invested $3 million to work with Oncora on precision‑medicine tools for radiation oncology. Earlier in the year Oncora completed a 16‑week accelerator program at the Texas Medical Center Innovation Institute in Houston and maintains a full‑time staff member there. CEO and cofounder David Lindsay describes the mission as improving outcomes for cancer patients by developing intuitive software tools to better collect and learn from real‑world data. Oncora Medical builds a health‑IT platform (Precision Radiation Oncology Platform) that helps radiation oncologists learn from past treatment data to improve the efficacy of radiotherapy. The company is based in Center City and focuses on product and engineering development. It recently signed a non‑paid agreement to install its platform at MD Anderson Cancer Center to deepen the partnership and inform new software development. Oncora plans to use new capital to expand engineering and product teams, including hiring a VP of Engineering. The company aims to run clinical studies by 2018 to generate data backing the efficacy of its offering. Financially, the firm is pursuing equity financing to support growth and product development. Oncora Medical is developing software to improve how oncologists access, organize and learn from past radiation treatment data. Its platform leverages historical radiation treatment data to provide tools for creating personalized treatments for future patients. The company intends to use the seed funds to establish an engineering team at its Philadelphia headquarters and complete early product installations with leading health systems. Co-founded by David Lindsay and Chris Berlind in 2014, Oncora participates in the University City Science Center’s Digital Health Accelerator. It is supported by the Ben Franklin Technology Partners of Southeastern PA, an initiative of the Pennsylvania Department of Community and Economic Development. The company recently raised $1.2M in seed funding to advance these efforts. Oncora Medical builds a data analytics platform that ingests and puts decades of cancer patient data into a usable format for radiation oncology. Its core tool lets physicians outline objectives and constraints and reuse past treatment plans to inform clinical decision-making and streamline workflow. The company was founded by M.D./Ph.D. student David Lindsay and Ph.D. computer science student Christopher Berlind after clinical observation revealed gaps in access to treatment data. Oncora leverages access to more than 100 physicians as built-in market research and is in discussions with cancer centers to pilot the technology. It is part of the Wharton Venture Initiation Program and has received funding from Dorm Room Fund plus a $5,000 grant from the Wharton Innovation Fund. The founders plan to announce a first pilot soon and to pursue seed funding prior to a formal launch.

Led · Series B · Apr 2019

ABK Biomedical is a Halifax-based medical device company focused on researching, developing, and commercializing embolotherapy products that improve outcomes for patients with benign and malignant hypervascular tumors. Its flagship product, Eye90 microspheres®, is an imageable yttrium-90 radioembolization therapy that has received FDA Breakthrough Device Designation and is currently being evaluated in the Route90 FDA IDE pivotal trial for liver cancer treatment. The company owns intellectual property surrounding inorganic polymer microspheres and proprietary delivery systems, and it operates its own R&D and manufacturing facilities. Proceeds from its latest funding will be used to advance clinical operations, prepare for Eye90 microspheres commercialization, and expand manufacturing and supply-chain capacity. ABK also plans to drive additional product innovation across its embolic platforms. The oversubscribed Series D round reinforces strong investor confidence dating back to the firm’s Series B financing in 2019.