CitareTx Investment Partners

CitareTx founded in 2008 is a venture development and investment firm based in Houston Texas. The firm provides investment and incubation services to start-up and early-stage medical device companies. The firm provides seed capital (equity) ranging from $5K to $2M with follow-on capital of up to $5M. The firm also considers investment opportunities with smaller than typically accepted venture capital market size thresholds. The firm is geographically agnostic but prefers companies to be based in Texas. The firm is actively seeking new opportunities.

Jeffery Sheldon
General Partner & Managing Director 

Colorado Institute for Drug Device and Diagnostic Development United States

The Colorado Institute for Drug, Device and Diagnostic Development (CID4) is a 501(c)3 not-for-profit entity committed to economic development through the creation and funding of Colorado Life Science companies. Our goal is to efficiently transform emerging life science innovations into commercial successes. First, we use a rigorous review process and advisory panel to select promising post-proof-of-concept technologies from Colorado’s outstanding research institutions and start-up companies. Second, we fund and actively manage product development while taking an equity position in existing companies and in new companies that we found with the inventors. Third, we facilitate additional seed and/or grant funding to further develop our portfolio companies technologies. By augmenting the value of these innovations, we position our portfolio companies to attract series A financing from venture capitalists and/or partnering opportunities with established pharmaceutical and biotechnology companies. We have funded 9 early stage companies since June 2010 and these companies have raised more than $30 million in additional private capital and grant funding.

Website:
www.cid4.com
Year Founded
2009
Biotech Phase of Development
Technology Overview
CID4 has 9 portfolio companies and several project companies that it represents. The companies and technologies are: Sophono (marketed bone anchored hearing device); PeptiVir (pre-clinical stage, peptide-based vaccine platform for influenza, MERS, Ebola, RSV and HIV); Flashback (CipherSensor algorithm for use in medical devices that monitor vital signs); VetDC (FDA approved veterinary oncology product); KromaTiD (molecular diagnostics to detect chromosomal inversion mutations); Aurora Oncology (IND ready bladder cancer therapies); aktiVax (post-protoype, pre-filled syringes and biocompatible vial replacements); Fitbionic (marketed foot prostheses); Sapphire Technologies (post-prototype non-stick dental device for packing composite materials); ApopLogic (phase 1 lung cancer drug; IND-ready targeted biologic for cancer); MenoGeniX (phase 2 menopause hot flash therapy)
Alliance & Collaborations
Colorado Office of Economic Development, Fitzsimons Redevelopment Authority, SBA, Colo. BioSciences Assn., High Country Venture, CU, CSU Ventures
Supporting Metrics or Evidence
Since June 2010: (1) >150 companies reviewed by our technical and business advisory committee; (2) Technology and IP from public research institutions and private companies; (3) $3 million invested in 9 companies (2 started by CID4); (4) Our portfolio companies have raised an additional $30 million in follow-on financing and grants
Current Financing Needs
We are looking for $10 million in philanthropic, angel, corporate and/or venture funding to match $5 million in available State of Colorado ED grant funds
Current Timeline
N/A
Current Investors
Colorado Office of Economic Dev. ($5.1 million), Fitzsimons Redevelopment Authority ($1 million)
IP Status
All of our companies have issued patents
Recent Milestones
Completed our 9th investment.
Management Team Highlights
Our management team has an average of over 30 years in the biotechnology and medical device industry in both start-up and large companies
Richard Duke
Founder & CSO 

Correlation Ventures United States

Correlation Ventures is a venture capital firm that founded in 2010 and is based in San Diego, California with an additional office in Palo Alto, California. The firm currently has approximately $165 million in total assets under management. The firm typically makes investments ranging from $0.25 million to $5 million over the life of the company, and the first investment will be not larger than $2.5 million. The firm’s preferred capital structure is convertible preferred equity or convertible loan. Correlation Ventures will consider invest in any industry segment at any stage, but there must be at least one other venture capital firm making their first investment in the company in this round. The firm only invests in US-based companies. 

Correlation is extremely opportunistic when it comes to investments in the life sciences space; with that being said the firm's specified sectors and sub sectors of interest may or may not be an area in which Correlation Ventures is currently looking to allocate capital to. The firm has made a number of investments in companies in the life sciences space, and has mainly invested in companies in the biotech therapeutics and diagnostics space. The firm's current portfolio includes biotech therapeutics and diagnostics firms developing products targeting endocrine, metabolic, and nutritional diseases, musculoskeletal system and connective tissue, neoplasms, cancer, and oncology, genitourinary system, and infectious and parasitic diseases.

Year Founded
2010
Investor Type
Medtech Phase of Development
Capital Structure Preference
Investment Stage Preference
David Coats
Managing Director 

Deton Corp. United States

Deton is developing a novel non-invasive simple-to-use sample collection device for tuberculosis (TB) patients who are unable to provide a sample.

Proper diagnosis is essential to effectively treat the more than 9million new cases of TB every year. Typically, a sputum sample is collected to run the diagnostic test. However, in 22% of adults and in all children patients, sputum is impossible to collect. These patients have to rely on inadequate alternative collection methods that are invasive, high-cost, and resource-intensive. With our device, patients can now provide a sample even in low-resource setting and find out their TB status. Deton will enable 26M samples to be tested every year.

After promising clinical data, Deton is now raising $1.6M to build an ISO 13485 disposable product and to obtain pivotal clinical validation. Discussions with multiple potential diagnostic partners and first feedback from experts at World Health Organization show significant interest in adopting the device once effective validation has been completed. 

Year Founded
2011
Main Sector
Medtech Phase of Development
Technology Overview
Cough collection to diagnose respiratory infections
Alliance & Collaborations
Confidential
Supporting Metrics or Evidence
human clinical data supporting the diagnostic
Current Financing Needs
Deton is raising a $1.6 million seed round to support 15 months of operations.
Current Timeline
Milestones: (1) develop an ISO-13485 final design disposable device (t+10 months) and (2) obtain pivotal clinical data in 50 patients (t+15 months). Deton’s third major milestone during the seed stage is to obtain Series A financing.
Current Investors
non-dilutive government grants
IP Status
The Cough Collector is protected by 2 Patent Cooperation Treaty applications fully owned by Deton: PCT/US2011/042854 –“System for airborne bacterial sample collection and analysis” and PCT/US2014/024682 – “System for breath sample collection and analysis.”
Recent Milestones
With non-dilutive funding from government grants, the Cough Collector has been tested in a study on a limited number of patients at a high prevalence site with very encouraging results.
Management Team Highlights
Deton’s team brings together more than 20 years of experience in each of engineering, medicine, and commercial operations. Our team has successfully taken a product from idea to human clinical data. Founders: Patrick Sislian, (CEO, PhD Chemical Engineering UCLA, Member of UCLA VC Fund), Stephen Chapman (VP of R&D, PhD Chemical Engineering Caltech), and Ramzi Nasr (VP of Clinical, PhD Bioinformatics UCI). Part-time: Nico Arnold (previous EVP of commercial ops at Cepheid, previous SVP at Siemens), Dr. Antonio Catanzaro (clinical expert on TB, Professor of Medicine at UCSD), and Katrina Fiedler (previous Director of Regulatory affairs at Alere).
Dr Patrick Sislian
LinkedIn logo CEO 
BIO

Patrick Sislian is co-founder and CEO of Deton. He has successful track record in product development. He has secured more than $1.2M in government grants from the NSF, NIH, DoD. He holds a Ph.D. in chemical engineering from UCLA. He serves on the Life Science Investment Committee of the UCLA Venture Capital Fund.

Nico Arnold
LinkedIn logo Business Development 
BIO

Nico Arnold, an IVD industry executive, is responsible for the commercial strategy. Nico was previous EVP of Commercial Operations at Cepheid and previous SVP at Siemens. Nico will be employed part-time and will be responsible in establishing and maintaining distribution relationships for successful product launch.

Diamond BioFund Taiwan

Diamond BioFund is an evergreen fund that was established in 2013 and is based in Taipei City, Taiwan. The fund is operating from a committed capital of USD 300 million. The fund makes equity investments in early- to late-stage private businesses. Typical allocations range from USD 1.5 million to north of USD 10 million. The fund likes to lead investments in Taiwan-based businesses and co-invest in businesses overseas. The fund is currently seeking new opportunities in Taiwan, Greater China, Southeast Asia, US, Canada, and EU.

Diamond BioFund takes a generalist approach when considering life science opportunities, including therapeutics (small molecule and biologics), medical devices, diagnostics, healthcare services, and nutraceuticals. The fund is seeking cutting edge, innovative, and platform technology. In therapeutics, the fund considers all stages from preclinical through pre-IPO. In medical devices, the fund prefers later stage projects with proof of concept. The fund is open to all disease indications.

Investor Type
Biotech Phase of Development
Medtech Phase of Development
Capital Structure Preference
Investment Stage Preference
Winston Town
Vice President 
Haolin Sung
LinkedIn logo Director 

Easton Capital United States

Easton Capital Investment Group is a venture capital firm based in New York. Easton Capital invests broadly in the life science sector, and considers investment opportunities globally. The firm is likely to make 4-6 allocations in the next 6 months. Allocations typically vary from $250,000 to $5 million, in the form of equity or convertible debt. Allocations are typically made at the venture stage of development, but may be made in seed rounds if a company already has proof of their product's efficacy.

Investor Type
Biotech Phase of Development
Medtech Phase of Development
Capital Structure Preference
Investment Stage Preference
Lisa Rhoads
Managing Director 

EmbraceHer Innovations, Inc. United States

EmbraceHer is the women's reproductive health club developed by clinicians. We support the lifetime reproductive health of every woman from menstruation, fertility preservation, conception, infertility/IVF, maternity, postpartum, lactation, sexual health and menopause. Our digital platform provides targeted, clinically-sound health education, subscription-based telehealth services, and doctor-curated medical and health products for women. 

Our maternity product is the only mobile digital health offering developed and prescribed by Board-certified obstetricians, used by over half a million pregnant mothers.

Year Founded
2012
Main Sector
Medtech Subsector
Medtech Phase of Development
Technology Overview
mobile, Web, iOS, Android
Supporting Metrics or Evidence
550,000 users
Current Financing Needs
$1M seed stage
Current Investors
Astia angel
Recent Milestones
6-figure revenues, over 550K registered users
Management Team Highlights
Denise Terry, CEO (8x startup veteran, 3 exits); Jan Rydfors, MD, FACOG - Author of Clinical Handbook of Obstetrics, Gynecology, Infertility
Denise Terry
Cofounder & CEO 

Excel Venture Management United States

Excel Venture Management is a venture capital firm that was founded in 2008 and is based in Boston, Massachusetts. The firm has managed one fund with committed capital of $125 million, and the firm is currently raising the second fund. Excel Venture Management seeks to make equity investments into life science companies from early to late stages. The typical investment size ranges from $3 million to $ 5million. The firm plans to invest in 4-5 companies over the next 6-9 months and prefers to invest in companies based in US.

Year Founded
2008
Investor Type
Medtech Phase of Development
Capital Structure Preference
Investment Stage Preference
Eric Zimmerman
Kevin Liang

Flagship Ventures

Flagship Ventures is an early-stage venture capital firm founded in 2 and located in Cambridge MA. The firm has $9 million AUM. Flagship Ventures invests in therapeutics and in medical technology and makes initial allocation of typically $5-$5 million with the possibility of follow-on investments for a total commitment of up to $7 million-$15 million.
David Berry
Partner 

Fusion Genomics Corporation Canada

Fusion Genomics Corp (FG) is a molecular diagnostic test  development company that is introducing diagnostic kits with companion analysis software that offer superior clinical information, faster turn-around-times and ease of use for hospitals and clinical laboratories. Fusion is the first of two companies in the world to bring a validated Next Generation Sequencing (NGS) diagnostic test complete with highly secure cloud based analytical service for childhood cancers (ChildSeq-RNA SRCT) into the clinic. This test was validated in the renowned medical testing facility at the Texas Children Hospital, Baylor College of Medicine.

FG is completing development of kits for facilitating absolute diagnosis of pediatric and adult blood cancers. In addition, FG has partnered with the Royal Tropical Institute (Dutch: Koninklijk Instituut voor de Tropen; KIT) a World Health Organization reference diagnostic laboratory for infectious diseases to design the next generation of assays for the detection of infectious diseases including drug-resistant forms of tuberculosis, influenza, hepatitis and hemorrhagic fevers including Ebola.

Year Founded
2013
Biotech Subsector
Medtech Subsector
Biotech Phase of Development
Medtech Phase of Development
Technology Overview

Fusion Genomics Corporation (FG) develops molecular diagnostic tests that utilize next-generation sequencing (NGS) technologies. All of FG’s tests can be used with any of the widely adopted NGS instruments on the market. Data is analyzed using FGF’s secure FusionCloud, providing diagnosis –enabling DNA sequence information to the clinician.

Most NGS based diagnostic efforts can be divided into two categories: 1) whole genome sequencing (WGS), where the entire DNA of an individual (or a pathogen) is sequenced, and 2) target-capture sequencing (TCS), where only diseased portions of DNA are sequenced. TCS produces 1000 times less data than WGS. The expensive computational resources required for analysis of WGS data prevents it from being adopted for routine clinical use. Therefore, TCS is more suitable and appealing in frontline diagnostic environments.

TCS uses either PCR or “DNA baits” as the underlying technology to “capture” disease-specific regions of the genome. PCR-based methods suffer from limitations described earlier. FG uses proprietary Quantum ProbesTM, an enhanced form of DNA baits, in all its tests. Quantum ProbesTM allow for nearly limitless expansion of genetic targets and rapid development of new tests as well as patentable techniques that are beyond the capacity of PCR. The superior advantage of Quantum ProbeTM, coupled with FusionCloud analysis and reporting, will drive the successful adoption of the tests. 

Alliance & Collaborations
Texas Children Hospital, Baylor College of Medicine (Houston, USA), British Columbia Centre for Disease Control (Vancouver, Canada), Royal Tropical Institute / Koninklijk Instituut voor de Tropen (Amsterdam, Netherlands)
Supporting Metrics or Evidence

The Fusion Genomics team published a very well received peer-reviewed publication which demonstrated that their technology was more sensitive, accurate, rapid and comprehensive than current industry standards such as PCR and FISH.  This study can be found at here.

Current Financing Needs

 $0.5-1M to complete seed round

Current Investors

Founders, board members, family and friends.

IP Status

Patent applications are pending.

Management Team Highlights

Fusion Genomics Corporation’s team has established expertise in next-generation sequencing, diagnostic test and software development, and information technology.

Mohammed Qadir, PhD., Chief Executive Officer and Chief Scientific Officer has over 17 years of research experience; the last 10 were at the British Columbia Cancer Agency. As part of his early training, he worked with world-renowned experts in genomics and drug development and is the co-inventor of the ChildSeq assay and ChildDecode.

Greg Stazyk, Chief Technical Officer has over 20 years of experience in senior positions in the IT industry. Mr. Stazyk was the IT lead for one of Canada’s largest bioinformatics computing platform at the BC Cancer Agency’s Genome Sciences Centre (GSC). Mr. Stazyk was the senior manager at PMC-Sierra Inc. responsible for its global computer systems operation.

Brian Kwok, VP of Product Development has close to 10 years of experience in molecular biology and genomic technologies including leading edge next-generation sequencing. Mr. Kwok has worked in combinatorial drug screening and led the development of the ChildSeq assay.

Dr. Poul Sorensen MD, PhD: Board member and clinical expert. Dr. Sorensen is a world-renowned pediatric pathologist and is the Johal Chair in Childhood Cancer Research at the University of British Columbia, as well as a professor in the Department of Pathology and a Senior Scientist at the BC Cancer Research Agency (Vancouver, Canada). Dr. Sorensen is also the Chair of the Translational Research committee of the Children’s Oncology Group.

Mohammed Qadir
Chief Scientific Officer