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 

Enso Ventures United States

Enso Ventures is a Venture Capital firm that was founded in 2010 and based in London with an additional office in New York. The firm is looking to provide equity capital to high growth companies in the life science space. The firm is currently interested in companies located in Europe, Russia and the US and is looking to make approximately 2-3 investments over the next 6-9 months.

Sergei Petukhov
Partner 

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

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 

Greenhouse Capital Partners United States

Greenhouse Capital Partner is a venture capital firm that was founded in 2006 and is based in Sausalito, California. The firm selectively makes equity investments into life science companies in seed stage and series A financing round, but it also provides growth equity to highly capital efficient companies that can achieve cash flow break-even within two years. The typical investment size ranges from $0.25 million to $2 million.The firm focuses on investments in US based companies.

Eric Desai
Principal 

HealthQuest Capital United States

Sofinnova Ventures was founded in 1974 and is based in Menlo Park, CA. The firm has approximately $1b of assets under management, and makes life science investments from two fund families; the main Sofinnova Ventures fund and Sofinnova HealthQuest Capital. Sofinnova Venture Partners IX closed at $500 million in 2014, and the debut HealthQuest fund closed at $110 million in 2014. The firm makes investments in the form of equity (preferred stock) and is an activist investor; the firm prefers to lead investments, take a board seat at its portfolio companies and be actively involved in company management. Sofinnova Ventures plans to make 4-6 new investments in life science companies in 2014. 

The Sofinnova Ventures main fund invests in biopharmaceuticals and typically makes initial investments of $5-15m, with the potential for a total investment of $15-30m. The fund invests in companies based in North America or Europe. 

HealthQuest Capital invests in non-biopharmaceutical life science and medtech companies and typically makes initial investments of $2-3m, with the potential for total investments of $5-6m. HealthQuest Capital is a venture growth fund focused on commercial-stage technologies, and only invests in companies headquartered in North America (particularly the US Southeast or West Coast).

Garheng Kong
Garheng Kong
Managing Partner 
Randy Scott
Randy Scott
LinkedIn logo Partner 

Horizon Technology Finance United States

Horizon Technology Finance is a venture lending, investment and financial services management company that was founded in 2003 and is headquartered in Farmington, Ct with additional offices in Walnut Creek, CA and Reston, VA. The firm controls approximately $200 million in assets under management and look to provide senior or subordinate loans to companies in the range of $2 to $20 million dollars, and often syndicates much larger deals. The firm prefers to lead or co-lead investments that they are involved in and looks to be involved in 15 deals in the next 6-9 months. The firm provides capital to companies located throughout the United States and Canada.

Year Founded
2003
Medtech Phase of Development
Capital Structure Preference
Investment Stage Preference
Jerry Michaud

Jump Capital United States

Jump Capital was founded in 2012 and is based in Chicago, with an additional office in San Francisco. The firm is investing from a $250m fund, and is interested in a variety of sectors including the life science field. For life science investments, Jump Capital typically allocates $2-15 million, and prefers to invest in Series B-C rounds. Jump Capital invests in the USA and Canada, and has previously invested in 6 healthcare companies.

Jump Capital invests in medical devices, diagnostics, digital and mobile health, and healthcare services. The firm is open to opportunities in any clinical indication. Jump Capital is only interested in devices and diagnostics that have in-human data.

Dr Garrett Vygantas
LinkedIn logo Partner 

JVC Investment Partners United States

JVC Investment Partners is a private investment firm that was founded in 2000 and is based in Chicago, Illinois. The firm focuses on investments in the healthcare industry. The investment size can vary greatly and is very flexible depending on each company’s needs. The firm provides venture capital and growth capital to healthcare companies. For early-stage investments, the firm targets companies that provide solutions for hospital acquired infections, medication errors, healthcare system operational efficiency enhancements and cost reductions, and chronic disease management, and it typically invests equity or convertible preferred equity in post series A rounds. For growth investments, the firm targets companies with compelling products and strong position in niche markets and with an EBITDA in excess of $2 million. The firm primarily invests in companies based in US.

David Jonas
Founder, President & CEO 
Jonathan Jonas
Partner 

Life Science Angels

Life Science Angels Inc was founded in 2004 and is based in Sunnyvale CA. The group makes early-stage equity investments in a wide range of life science companies. Life Science Angels invests primarily in California but is open to investing out of state provided a round is being syndicated with a local angel group. Life Science Angels does not rule out investing outside the USA but has yet to do so. The group invests as individuals and allocation sizes are therefore highly varied but are usually of about $2-$6, Life Science Angels usually invests in rounds seeking $3 million or less. The group is interested in syndicating rounds with other angel groups.

Investor Type
Biotech Phase of Development
Medtech Phase of Development
Capital Structure Preference
Investment Stage Preference
Dr Faz Bashi
Chair Digital Health & Sciences 
Karl Handelsman
Founder & Chairman 
Allan May
Founder