Tom Farb United States

Thrive Bioscience is commercializing automated, analytical cell management laboratory instruments with integrated disposables. Thrive systems target the existing manual cell culture market ($8B), the cell-based assay market ($14B) and multi-billion dollar emerging markets for cell therapeutics. Thrive systems monitor, maintain, and passage cell lines, as well as run assays and generate large amounts of previously unavailable data.

Current methods of cell culture, developed more than 50 years ago, are now a major bottleneck holding back research and medicine, and cost society billions of dollars annually in waste and lost opportunity. Thrive Bioscience is the first company to wholly automate cell culture in research, diagnostic, and therapeutic markets.

Cell culture, especially the growth of human and other mammalian cells, is a fundamental tool used in science and medicine. As an example, the market for cell-based assays used in drug discovery accounts for $14B annually. One of the most rapidly growing and emerging segments requiring automated cell culture is the personal cell-based therapeutics market, for which human cells are genetically engineered, and then re-implanted into a patient.

Website:
thrivebio.com
Year Founded
2014
Main Sector
Medtech Subsector
Medtech Phase of Development
Current Financing Needs

Have raised $3M of a $4M round and seeking investors to complete the round.

Current Investors

Life Science Angels, Finney Capital and several seed investors.

Management Team Highlights

Management Team

·       CEO, Gary Paul Magnant -- Serial bio-tools entrepreneur; 3 prior successful exits; formerly Sage Science, MJ Research, ThermoCeramix, Owl Scientific

·       COO/CFO, Thomas Forest Farb -- Serial healthcare-centric entrepreneur; numerous successful exits and IPOs; formerly MedicaMetrix, Indevus Pharma, Interneuron Pharma, Cytyc

·       CSO, Alan Blanchard, PhD -- Numerous commercial instrumentation successes in DNA sequencing & DNA microarrays at Agencourt Personal Genomics and Lilly

·       VP Engineering & Manufacturing, Brian Foley -- Former Head of Technology & Engineering at Merck Millipore; numerous products developed and launched

Board of Directors

·       Guy Broadbent -- Former President of Laboratory Products Division of Thermo-Fisher Scientific; former CEO of XcellerX (acquired by GE Healthcare)

·        Michael Finney, PhD -- Managing Director of Finney Capital; former Co-Founder and CSO of MJ Research; Board Member of Sage Science

Thrive Bioscience, Inc.
Chief Operating Officer 

Lesli Fellman United States

IR2Dx Company Overview:

IR2Dx has developed a proprietary, breakthrough analysis and reporting system for multi-marker diagnostic test panels, to provide highly personalized treatment strategies for patients with Type 2 diabetes.  While control of glucose levels remains an important factor in the treatment of the disease, the IR2Dx platform evaluates the individual disease pathways for each patient, providing critical information regarding multiple markers and their overall pattern, all of which contribute to management of underlying disease.  This information can then be used by physicians to guide treatment decisions to deliver precision medicine in diabetes. 

Today, there are approximately 382 million people with diabetes in the world, and this number is expected to grow to 592 million by 2035.  The worldwide available market for early detection and drug response diabetes diagnostics is greater than $20 billion.  IR2Dx can enter the market within the current reimbursement and regulatory environments, and is ready to launch its first products in H1 2015 through commercial laboratories.

The IR2Dx platform provides personalized treatment information and recommendations to physicians based on a proprietary decision tree algorithm, greatly enhancing the clinical utility of a laboratory report.  Existing reimbursement levels for the panel markers in the U.S. and key international markets adequately cover the addition of the IR2Dx analysis and reporting. 

The platform is a software-based decision analysis tool. The analysis is performed on results from commercially available diagnostic tests run using standard laboratory bench top systems, requiring no tailored equipment, no custom design of the test system itself, and no capital investment.  Lab technicians upload the multi-marker panel testing results to the IR2Dx proprietary web portal to access the company’s decision support tool analysis product. In the initial commercialization phase, each laboratory will have a specific customized software product, and will pay for each report on a per-use basis. 

In the current U.S. regulatory environment for such products, with “health management IT functionalities”, such as the IR2Dx analysis and reporting system, near-term requirements for premarket review are unlikely, though the FDA may give additional guidance at any time. The IR2Dx platform is protected by a strong and broad intellectual property portfolio combining substantial data and know-how with issued patents in the U.S. and Europe. The company’s issued patents carry claims for use of its analysis platform and combination of markers for treatment guidance “with all glucose lowering drugs.”

 The company anticipates launch of the proprietary IR2Dx platform in H1 2015, introducing its first clinical decision support products through commercial laboratories. 

Year Founded
2008
Biotech Subsector
Medtech Subsector
Biotech Phase of Development
Medtech Phase of Development
Technology Overview

In 2002, IR2Dx company founders observed that anti-diabetic therapies reduced adverse cardiology events across multiple drug classes, while at the same time, cardiovascular drugs were reducing diabetes conversions. Further, it has long been recognized that cardiovascular disease is a comorbidity of diabetes. IR2Dx founders concluded that cardiovascular disease and Type 2 diabetes are manifestations of the same underlying conditions, and by analyzing information on relevant markers, treating physicians could be provided with information to help guide drug selection and assess drug response, making improved treatment possible. The research identified pathway biomarkers that significantly elucidate the evolution, and optimal treatment, of the disease while continuing to provide glucose control, throughout the treatment process with a patient. These biomarkers are: high-sensitivity C-reactive protein (hsCRP), intact proinsulin, insulin, adiponectin and C-peptide. Through the IR2Dx patented methods and systems of evaluating the baseline and subsequent levels of these markers, the physician is given a previously unavailable, cost effective window into the pathways and causes of his/her patient’s specific disease, with the opportunity to intervene therapeutically before the disease state progresses further. Specifically, the IR2Dx platform, for the first time in diabetes, provides physicians with easily accessible clinical information to aid in: • Assessment of the current state of a patient’s metabolic pathways; • Determination of the likely further progression of disease; and, • Determination of optimal treatment strategies for the patient.

Alliance & Collaborations
Discussions are underway with commercial laboratory and kit development partners.
Supporting Metrics or Evidence

To date, the IR2Dx diagnostic panel markers have been used prospectively on over 14,000 patients across 35 clinical trials, with over 40 publications. These studies validated the use of the panel markers, and covered patients at all stages of disease including prediabetes, across the range of anti-diabetic drug- classes. These studies demonstrated improvements in group mean HbA1c levels, the present standard for clinical success in the diabetes field.

Current Financing Needs

$12 million, can be staged to support commercial laboratory rollout and kit development ($5 million), and further clinical studies ($7 million).

Current Timeline

At commercialization

Current Investors

Friends & Family, Founders, Physicians

IP Status

Patents issued in US and Europe

Management Team Highlights

Highly Experienced Team. CEO has over 40 years in the diagnostics field (including 17 years at Abbott Diagnostics), and all management team members have over 30 years in biotech. Many of our key advisors are well recognized world leaders in diagnostics, diabetes and cancer.

IR2Dx
Founder / VP Finance 

Tania Fernandez United States

  

Tania Fernandez is the founder of Dream Catcher Ventures, an advisory firm founded to address the inefficiencies in the marketplace and to align the goals and aspirations of entrepreneurs with investors in the healthcare/biotech sector. It is focused on creating and building disruptive biotech/healthcare companies that are positioned to excel in global markets. The firm also has a strong focus on biotech companies that have assets/technologies that are relevant to the Indian market.

Dr. Fernandez is currently working with BioHealth Innovation on a $50M “Gap Fund” to invest in seed and early stage healthcare/biotech companies primarily in therapeutics, diagnostics, medtech and healthcare IT.

Tania has a doctorate in molecular oncology and a post doctorate in protein chemistry and genetic engineering. She has over fifteen years of experience in the life sciences and 10 years of venture capital investing experience in biotech/ life sciences/healthcare and healthcare delivery.

DreamCatcher Ventures
Founder 

Michael Finney

Finney Capital
Managing Director 

Lindy Fishburne

Breakout Labs was founded by the Thiel Foundation in 211 and is based in San Francisco CA. Breakout Labs provides seed grants of $35 to 8-1 early stage companies per year. Companies must reach specific milestones in order to receive installments of the grant. Breakout Labs grants are in the form of a convertible note that if the company raises a Series A round will convert based on the Series A valuation, however if the company fails before raising a Series A round no debt will be due. Additionally when a portfolio company becomes revenue-generating or is acquired Breakout Labs receives a 3% royalty payment capped at 3x the value of the grant. Breakout Labs funds companies throughout the USA.
Breakout Labs
Executive Director 

Doug Fisher

InterWest Partners founded in 1979 is a venture capital firm based in Menlo Park California. The firm?s primary focus is providing venture capital to early-stage healthcare and information technology companies. The firm has raised 1 funds to date with over $2.8 billion in committed capital. The firm?s tenth fund closed in 29 at $65 million. The firm generally invests in the Series A and B rounds, initially allocating $8-12 million and up to $2 million over the life of the investment. The firm primarily invests in US-based companies but will also selectively consider opportunities abroad. The firm is actively seeking new investment opportunities.
InterWest Partners
Partner 

Nicole Fisher

Forbes
Contributor 

Greg Fleming France

ALIAD is the venture capital subsidiary of the Air Liquide Group (L'Air Liquide S.A.), one of the largest multinational providers of industrial and medical gases and related activities, headquartered in Paris, France. The healthcare division of the Air Liquide Group has been playing a significant role in healthcare with over €2 billion in revenue. 
ALIAD aims to promote the Group’s growth and access to innovations through taking minority stakes in innovative technology start-ups outside the Group. ALIAD can lead or co-invest with other investors. Typical allocations are made in equity and range from €1-10 million. ALIAD is currently seeking new opportunities across a wide geography, including Western Europe, North and South America and Asia.

ALIAD
Investment Director 

Dennis Ford

Life Science Nation (LSN) is the premier sourcing platform for market intelligence and prospect pipeline development in the life science arena. LSN enables life science professionals to generate a list of qualified global targets that are a fit for their company’s products, services, and fundraising efforts. The ability to generate these Global Target Lists (GTLs) makes life science professionals more effective and efficient. 

Biotech Phase of Development
Medtech Phase of Development
Unique Capabilities

Life Science Investor Profiles, LSN has sourced validated and maintains the largest global database of investor profiles. LSN defined 10 categories of Life Science Investor;

·         Private Equity

·         Venture capital

·         Family Offices

·         Corporate VC

·         Angel Groups

·         Large Pharma/ Biotech

·         Alternative Institutional Investors: Pensions, Endowments

·         Endowments/Foundations

·         Hedge Funds

·         Government Grants

Marketing Services, LSN consults on branding, messaging, and outbound marketing strategies. This includes developing a tagline, elevator pitch, executive summary, corporate power point presentation, and new or updated website design to fit your brand and message. LSN will develop a Global Target List of prequalified candidates to target for marketing initiatives.

Life Science Nation
BIO

Dennis is the founder and CEO of Life Science Nation (LSN) and creator of the Redefining Early Stage Investment (RESI) conference series. Most recently, he launched a broker-dealer entity called Boston Innovation Capital (BIC).

Dennis’s expertise is in creating and facilitating interactive dialogue between buyers and sellers. He is a big proponent of using profiling and matching technology to find that all-important business fit in the marketing and selling process. LSN provides a Match.com-like platform of product and services for scientist/entrepreneurs and early stage investors to connect with each other.

Dennis is the author of The Peddler’s Prerogative, The Fund Manager’s Marketing Manifesto, and most recently, The Life Science Executive’s Fundraising Manifesto. Dennis is an expert in sales, marketing, and business development. Dennis has distinct value in understanding the world of global alternative life science investors and how that relates to financing early stage technologies.

Robert Foster United States

A biopharmaceutical company specializing in development 
of cyclophilin inhibitors, an emerging class of drugs for infectious, inflammatory, and degenerative diseases.

Focus:  Many hepatitis B and C patients fall into difficult-to-treat categories due to more complicated liver disease and poorer responses to treatment.  One major group is coinfected patients (HCV/HIV-1 or HCV/HBV), who are more prone to develop end stage liver disease and liver cancer than monoinfected patients.  Patients with cirrhosis represent a second major group. Cyclophilin inhibitors, having broad-spectrum antiviral, anti-inflammatory, and anti-fibrotic activities are excellent candidate medicine for these difficult-to-treat  patients. 

Year Founded
2014
Biotech Subsector
Biotech Phase of Development
Technology Overview
Cyclophilin Inhibition: antiviral and liver disease
Alliance & Collaborations
NRC (Canada), Scripps Research Institute (La Jolla, CA), NIH
Current Financing Needs
Angels, VC Series A
IP Status
issued/pending
Recent Milestones
AASLD presentation on HIV/HCV co-infection. Lead molecule, CPI 431-32, kills both viruses simultaneously, and may also mitigate progression of liver disease
Management Team Highlights
Drs. Foster and Ordonez, Founders. Both with decades each of biotechnology and capital market expertise
Ciclofilin
CEO