Scripps partners with Johnson & Johnson to spur new companies
The Scripps Research Institute has created a group to launch drug development companies based on the work of its scientists and its first collaborator is a big one: Johnson & Johnson Innovation.
The non-profit aims to have the new Scripps Advance turn early stage research from its scientists in Jupiter and La Jolla, Calif. into companies and secure venture capital funding to support clinical trials. Scripps was recruited to Florida 10 years ago with public money so it could spin off companies and… (Source: bizjournals.com Health Care:Biotechnology headlines)
Source: bizjournals.com Health Care:Biotechnology headlines - April 14, 2014 Category: Biotechnology Authors: Brian Bandell Source Type: research
Heart-valve startup raises $25M in venture capital
A startup developing technology for treating leaky heart valves has closed on $25 million in financing.
Roseville-based Tendyne Holdings Inc. will put the funds toward clinical trials. Venture capital firm Apple Tree Partners, based in Princeton, N.J., led the round of funding of financing. Boulle Group and Tendyne’s previous investors also participated.
Tendyne’s technology treats mitral valve regurgitation, a condition that causes blood to leak from the mitral heart valve and flow backward… (Source: bizjournals.com Health Care:Hospitals headlines)
Source: bizjournals.com Health Care:Hospitals headlines - April 10, 2014 Category: Hospital Management Authors: Katharine Grayson Source Type: research
Venture firm Split Rock pulls back from med-tech
Venture capital firm Split Rock Partners is retrenching from the medical-technology market.
The Eden Prairie firm historically invested in tech and medical-device startups, including many in the Twin Cities. Citing a challenging med-tech market, Split Rock will now shift most free capital in its existing $300 million fund into software and Internet deals, Managing Director Michael Gorman tells Fortune’ s Dan Primack. When the firm raises its next fund, it won’t set aside any funding for med-tech.
Split… (Source: bizjournals.com Health Care:Hospitals headlines)
Source: bizjournals.com Health Care:Hospitals headlines - April 8, 2014 Category: Hospital Management Authors: Katharine Grayson Source Type: research
Venture firm Split Rock pulls back from med-tech
Venture capital firm Split Rock Partners is retrenching from the medical-technology market.
The Eden Prairie firm historically invested in tech and medical-device startups, including many in the Twin Cities. Citing a challenging med-tech market, Split Rock will now shift most free capital in its existing $300 million fund into software and Internet deals, Managing Director Michael Gorman tells Fortune’ s Dan Primack. When the firm raises its next fund, it won’t set aside any funding for med-tech.
Split… (Source: bizjournals.com Health Care:Biotechnology headlines)
Source: bizjournals.com Health Care:Biotechnology headlines - April 8, 2014 Category: Biotechnology Authors: Katharine Grayson Source Type: research
Drive for deals: Ohio VC with $250M fund seeks Pittsburgh investments
Chris Olsen, partner and co-founder of Drive Capital, the Columbus, Ohio-based venture capital firm with a recently raised $250 million fund and an appetite for deals in the Midwest, is readying an April 15 trip to Pittsburgh where he and his colleagues will meet with entrepreneurs for the afternoon in an Oakland parking lot from their RV base.
A Cincinnati native, Olsen made his name at Silicon Valley VC firm Sequoia Partners by shepherding investments in such well-known entities as LinkedIn… (Source: bizjournals.com Health Care:Biotechnology headlines)
Source: bizjournals.com Health Care:Biotechnology headlines - April 4, 2014 Category: Biotechnology Authors: Patty Tascarella Source Type: research
Drive for deals: Ohio VC with $250M fund seeks Pittsburgh investments
Chris Olsen, partner and co-founder of Drive Capital, the Columbus, Ohio-based venture capital firm with a recently raised $250 million fund and an appetite for deals in the Midwest, is readying an April 15 trip to Pittsburgh where he and his colleagues will meet with entrepreneurs for the afternoon in an Oakland parking lot from their RV base.
A Cincinnati native, Olsen made his name at Silicon Valley VC firm Sequoia Partners by shepherding investments in such well-known entities as LinkedIn… (Source: bizjournals.com Health Care:Hospitals headlines)
Source: bizjournals.com Health Care:Hospitals headlines - April 4, 2014 Category: Hospital Management Authors: Patty Tascarella Source Type: research
Med-tech startup fighting lung disease raises $42M
A med-tech startup developing technology for treating lung disease has closed on $42 million in venture capital.
Vertex Venture Holdings, a subsidiary of Singapore investment firm Temasek Holdings, led the round of investment in Plymouth-based Holaira Inc.
Windham Venture Partners, Holaira’s previous investors, and two unnamed strategic investors also participated. Strategic investor is a term that typically refers to large medical-device companies.
The capital will fund a clinical trial featuring… (Source: bizjournals.com Health Care:Physician Practices headlines)
Source: bizjournals.com Health Care:Physician Practices headlines - April 3, 2014 Category: American Health Authors: Katharine Grayson Source Type: research
VC deal volume hits lowest level in 3 years for Oregon and Washington
Despite a dramatic jump in the venture capital dollars invested, Oregon and Washington saw the number of deals drop 32 percent in the first quarter of this year.
So says, Pitchbook, which provides technology for the global private equity and VC markets.
In the first quarter there were 40 deals totaling $620 million. The bulk of the money — $296 million, over 11 deals — went to firms in computer hardware, health care technology systems, financial services, communications and networking, consumer… (Source: bizjournals.com Health Care:Physician Practices headlines)
Source: bizjournals.com Health Care:Physician Practices headlines - April 2, 2014 Category: American Health Authors: Malia Spencer Source Type: research
VC Drive bringing investment quest roadshow to CMU, has $250M fund and Silicon Valley pedigree with ties to Funny or Die, LinkedIn
With a name like Drive, taking to the road is a no-brainer.
Drive Capital, a Columbus, Ohio-based venture capital firm with a newly raised $250 million fund to invest, is embarking on a spring RV university tour to scout for opportunities and will pull into Pittsburgh on April 15 to listen to pitches and offer feedback. Drive is looking for early- and growth-stage tech companies in the health care and consumer areas.
The Pittsburgh stop, in partnership with Carnegie Mellon University’s Center… (Source: bizjournals.com Health Care:Biotechnology headlines)
Source: bizjournals.com Health Care:Biotechnology headlines - April 2, 2014 Category: Biotechnology Authors: Patty Tascarella Source Type: research
16 St. Louis startups pitching at InvestMidwest today
St. Louis startups are doubling their presence at this year’s InvestMidwest Venture Capital Forum in St. Louis.
The event, to be held at Hyatt Regency St. Louis Thursday, is giving 44 startups a chance to present their business plans to a group of venture capitalists and private investors.
Last year, just eight St. Louis startups presented at the forum, which was held in Kansas City in 2013. This year, 16 entrepreneurs are set to pitch.
Startups that have pitched at the forum, founded in 1998,… (Source: bizjournals.com Health Care:Pharmaceuticals headlines)
Source: bizjournals.com Health Care:Pharmaceuticals headlines - March 27, 2014 Category: Pharmaceuticals Authors: Brian Feldt Source Type: research
Spate of biotech IPOs may result in increased VC investment this year
Venture capital financing in biotechnology firms, which has stayed flat for the past several years, could see a spike this year due to the success of all the IPOs in the past two years, according to some in the industry.
“You are about to see a huge resurgence in venture capital in healthcare,” said Jonathan Silverstein, a partner at US investment firm, Orbimed, in a recent report by Evaluate EP.
Citing the many recent initial public offerings in that sector — most of which were in biotech… (Source: bizjournals.com Health Care:Physician Practices headlines)
Source: bizjournals.com Health Care:Physician Practices headlines - March 21, 2014 Category: American Health Authors: Don Seiffert Source Type: research
Health care startup Gravie raised $10.5 million
Gravie, a startup that guides individuals through the process of purchasing health insurance, will expand nationwide after closing on $10.5 million in financing.
Venture capital firm Aberdare Ventures led the round of funding for Minneapolis-based Gravie, which serial health care entrepreneur Abir Sen launched last year. Dr. Mohit Kaushal, a partner at San Francisco-based Aberdare and a former West Health executive, will join the company's board of directors.
Gravie partly targets businesses… (Source: bizjournals.com Health Care:Biotechnology headlines)
Source: bizjournals.com Health Care:Biotechnology headlines - March 17, 2014 Category: Biotechnology Authors: Katharine Grayson Source Type: research
The push to lure a biomed VC firm to Houston gains HTC support
Add the Houston Technology Center to the list of Houston groups that want to help Texas Medical Center President Robert Robbins lure a biomedical venture capital firm to create a Houston biomedical hub.
HTC President and CEO Walter Ulrich told the Houston Business Journal that there's about $3.6 billion dedicated to research at TMC, but taking that research and commercializing it in the form of drugs or medical devices is just "a trickle."
"We need to turn that into a fire hose," Ulrich told… (Source: bizjournals.com Health Care:Hospitals headlines)
Source: bizjournals.com Health Care:Hospitals headlines - February 25, 2014 Category: Hospital Management Authors: Mark Yost Source Type: research
Drive Capital adds investor, former Apple exec as partners
Mark Kvamme and Chris Olsen have tapped two new partners for their burgeoning venture capital firm.
Drive Capital LLC added Robert Hatta, who will assist the firm’s portfolio companies in hiring, and Ned Schwartz, who will identify investments in health care information technology and other sectors.
Schwartz most recently was an investor at Palo Alto-based Norwest Venture Partners. Prior to that, he spent time in New York with Credit Suisse and General Atlantic LLC.
Hatta served as vice president… (Source: bizjournals.com Health Care:Pharmaceuticals headlines)
Source: bizjournals.com Health Care:Pharmaceuticals headlines - February 24, 2014 Category: Pharmaceuticals Authors: Evan Weese Source Type: research
Confluence gets funding from international venture capital firm
Confluence Life Sciences, a startup developing drugs to treat cancer and inflammatory diseases, has added to its Series A round it closed in late 2013.
The additional investment came from Epidarex Capital, an international early-stage life science venture capital firm. The amount of funding was not disclosed. Confluence CEO Walter Smith said Epidarex’s investment was significant.
According to CrunchBase, Confluence has raised roughly $4.5 million in Series A funding to date. Smith said the Series… (Source: bizjournals.com Health Care:Pharmaceuticals headlines)
Source: bizjournals.com Health Care:Pharmaceuticals headlines - February 19, 2014 Category: Pharmaceuticals Authors: Brian Feldt Source Type: research
