Mesa Verde Venture Partners United States

Mesa Verde Venture Partners is a Venture Capital company founded in 2006. The firm is currently making investments out of its 2nd fund that had its first close in 2013. The firm makes primarily equity investment into seed and early stage rounds ranging from $500,000 to $1 million initially and up to $1.5 million over the lifetime of the investment. The firm is focused on companies located in the Southwestern United States although they are open to review companies from throughout the US. The firm could make as many as 3 new investments over the next 6-9 months.

Year Founded
2006
Investor Type
Biotech Phase of Development
Medtech Phase of Development
Capital Structure Preference
Investment Stage Preference
Carey Ng
Managing Director 
Randy Berholtz
Senior Advisor 

Mid Atlantic Bio Angels

Mid Atlantic Bio Angels (MABA) founded in 212 is an angel investor group based in the New York City area which focuses exclusively on new and emerging life science companies. The group places no geographical restrictions or requirements for presenting companies as long as meaningful and effective post-investment monitoring of these companies can be achieved, MABA has considered opportunities in Europe and Israel as well as across the USA and Canada. Since the members are investing their own capital the investment size is highly flexible and will depend on the financial needs of the company. The capital structure is typically in preferred stocks or convertible notes in qualified cases. The group prefers to invest in companies with valuations of less than $5M. As MABA prefers opportunities that can be entirely angel-financed MABA generally requires that companies can achieve exit with $15 million capital or under (generally after raising a Series B round but no further rounds).

Bernard Rudnick
Founder 

MidCap Financial LLC

MidCap Financial is a commercial finance firm that was founded in 28 with offices in Bethesda MD Chicago IL and Los Angeles CA. The firm focuses on providing debt financing solutions to healthcare companies. The firm generally provides loans of around $15 million and is involved in approximately 15 new deals each year. The firm considers companies located around globe.
Josh Groman
Managing Director 
James Taylor
Director 

MP Healthcare Venture Management, Inc. United States

MP Healthcare Ventures is the corporate venture arm of Mitsubishi Tanabe Pharma founded in 2006 and based in Boston Massachusetts. The firm is looking to provide equity capital to seed and venture stage companies in the life science space. The firm is looking to provide companies with $5 million over the lifetime of the investment and plans on making 2-3 investments over the next year. The firm will invest in companies located anywhere around the world.

Tetsuro Iwata
Senior Manager 

Navitas Pharma United States

Company

Navitas Pharma (Navitas) is developing a new class of cardiovascular drug for the US.  On the basis of recent, proprietary research, Navitas has filed patents for use of its drug platform in three disorders for which no drugs are currently approved in the US.  Each has over 1,000,000 patients in the US:

> Portal hypertension (PHTN; hypertension of the liver)

> Heart failure with preserved ejection fraction (HFpEF)

> Group II pulmonary hypertension (Group II PH; lung hypertension secondary to left-sided heart failure)

Technology Platform

Navitas’ main platform is a new chemical class of compounds, known as furopyridines.  Cicletanine (CIC), the lead drug from this platform, has been launched for hypertension in France, and introduces a new mechanism of action to the US.  The drug activates endothelial nitric oxide synthase (eNOS), thereby reversing endothelial dysfunction, a root cause of hypertension and heart failure.  As part of this eNOS-activation mechanism, CIC has recently been shown to activate protein kinase G (PKG), an enzyme whose inactivation is important in HFpEF.

CIC is significantly de-risked:

> Launched in France for general hypertension, in which the drug has a long-established track record of efficacy and safety.

> Extensive safety data from

   > Clinical trials in >10,000 patients

   > Post-launch pharmacovigilance of ~2 million patient-years in France and Germany

> Clinical proof-of-concept data in several disorders, including

   > Hypertension

   > Group II pulmonary hypertension

   > Hypertensive hypertrophy (relevant to HFpEF)

   > Angina

   > Diabetic claudication

   > Diabetic microalbuminuria (early-stage kidney disease)

> Proof of relevance in an established animal model of portal hypertension

> Extensive data supporting new mechanism of action via eNOS

Target Markets

Portal Hypertension (PHTN; high blood pressure in the liver) is a significant, unmet medical need, with over 1 million patients in the US.  Current treatments involve decreasing blood flow into the liver, either with drugs or with surgery, rather than getting at the core problem of blood-flow resistance in the liver itself.  Recent laboratory research shows cicletanine directly (within the liver) reversing an accepted, reliable animal model of portal hypertension.  CIC looks promising as the first direct treatment of portal hypertension.  Conservative forecast puts revenues at $3 billion. 

Heart failure with preserved ejection fraction (HFpEF) accounted for a minority of diagnosed heart failure until recently.  With about 3 million US patients, it now accounts for 50 – 60% of heart failure diagnoses.   The increasing prevalence of HFpEF is driven to a large degree by metabolic syndrome (“pre-diabetes”) and diabetes.  This is important, as retrospective analysis of hypertension trials have associated CIC with significant decreases in glucose, cholesterol and triglycerides among patients in whom these were elevated.  Additionally, HFpEF is now thought to be driven by inactivation of protein kinase G (PKG), an enzyme recently shown to be activated by CIC.  Navitas therefore believes that CIC has the potential to reverse the root, molecular basis underlying much of the pathology of HFpEF.

Group II Pulmonary Hypertension (Group II PH) is hypertension of the lungs associated with left-sided heart failure.  A small CIC study showed marked improvements in functional status vs. placebo and significant improvement of pulmonary pressures.  The drug appears to have a dual action directly on both heart failure and hypertension within the lungs.  With over 1 million Group II PH patients in the US and no approved drugs, CIC has breakthrough-treatment potential.

Management

Glenn Cornett, MD, PhD (founder, CEO) has over 20 years of consulting and industry experience.  His work at Eli Lily included strategy and financial modeling, including work on licensing Cialis, establishment of a competitive-strategy unit in R&D and a corporation-wide assessment of new therapeutic targets.  At McKinsey, he consulted on engagements in health care, technology and manufacturing.  He also served on the Core Groups for Complexity and Business Dynamics at McKinsey.  While consulting at Los Alamos National Laboratory, Dr. Cornett authored a book on plutonium and public policy.

Running his own consulting firm, Glenn has done financial modeling and structuring for strategic transactions driving the addition of several hundred million dollars of market capitalization to his clients.  Dr. Cornett founded Navitas in 2004 and led it through its first liquidity event 3.5 years later in 2008.  He has run ten marathons (most recently: Cayman Islands in December 2014), and holds a black belt in karate.  He has a neuroscience PhD (UCLA) and an MD (Distinction in Research, U. Michigan).

Mark Alvino (corporate development) has extensive experience in investor relations, public relations and investment banking.  He held senior investment banking positions at Bradley Woods, Griffin and SCO Capital.  At the latter institution, he was responsible for over 20 transactions, driving in aggregate over $500 million of private financings in the biotech / pharma sector.  He was SVP at Ogilvy’s Feinstein Kean Healthcare, a pubic relations business focused on health care.   He was a Vice President at the investor relations firm Allen & Caron.  As an entrepreneur, he founded Advent Consumer Healthcare, where he holds multiple patents on a consumer-health product now available at 7200 CVS stores.  He remains active in competitive sailing.  He holds a degree form George Washington University.

Jim Page, MD, JD, MPH (founder, senior advisor) is a board-certified psychiatrist (residence: Stanford) and graduated first in his law school class.  Earlier, he was in natural resources, where he was a strategist and analyst for Fortune 500 corporations. 

Year Founded
2004
Biotech Subsector
Biotech Phase of Development
Supporting Metrics or Evidence
Navitas's lead drug has clinical proof of concept in several indications. Further information is available under confidentiality.
Current Financing Needs
Navitas is raising $3 million to complete proof of concept trial in portal hypertension. Navitas is raising an additional $3 – 7 million to reach clinical proof of concept in at least two pilot clinical studies of HFpEF coincident with Group II pulmonary hypertension. At least one of these studies will also be designed to demonstrate the ability to decrease blood glucose, cholesterol and/or triglycerides; all three of these have been reduced significantly in hypertension trials. Further details are available under confidentiality
Current Timeline
Liquidity-driving, clinical proof of concept data in portal hypertension is expected 12 to 18 months out from funding or active partnership. Liquidity-driving, clinical proof of concept data in HFpEF (heart failure with preserved ejection fraction) coincident with Group II PH (lung hypertension secondary to left-sided heart failure) is expected 18 to 36 months out from funding or active partnership. The trials in HFpEF coincident Group II PH are also expected to provide prospective, proof-of-concept data in reduction of blood glucose, cholesterol and triglycerides among patients in whom these are elevated. At least one of these trials will focus specifically on metabolic patients.
IP Status
Navitas has active patent applications for the use of CIC in portal hypertension, Group II pulmonary hypertension and HFpEF – indications for which Navitas expects market exclusivity into 2034. Additionally, new formulations driven by patented, proprietary technology are being developed for specific indications, thereby allowing for independence of franchises and further protection of market exclusivity. Further details are available under confidentiality.
Glenn Cornett
Glenn Cornett
CEO 
BIO

Glenn Cornett, MD, PhD has over 20 years of consulting and industry experience.  His work at Eli Lily involved strategy and financial modeling, including work on licensing Cialis, establishment of a competitive-strategy unit in R&D and a corporation-wide assessment of new therapeutic targets.  At McKinsey, he consulted on engagements in health care, technology and manufacturing.  He also served on the Core Groups for Complexity and Business Dynamics at McKinsey.  While consulting at Los Alamos National Laboratory, Dr. Cornett authored a book on plutonium and public policy.

Running his own consulting firm, Glenn has done financial modeling and structuring for strategic transactions driving the addition of several hundred million dollars of market capitalization to his clients. 

Dr. Cornett founded Navitas Pharma in 2004 and led it through its first liquidity event 3.5 years later in 2008, yielding substantial, favorable returns to investors.

Glenn holds an MD with Distinction in Research from the University of Michigan, and a PhD in neuroscience from UCLA.  His dissertation was on human deep-brain responses to musical stimuli. 

His not-for-profit work includes running (with significant help from highly-competent staff) Spectrum, a performance venue / gallery / salon on Manhattan’s Lower East Side that supports innovation and virtuosity in the arts.  Spectrum has been covered favorably by the New York Times and with evident reluctance by the New Yorker.  He is an occasional composer/performer, playing electronics (i. e., various forms of computer music), guitar, keyboards, etc.

Dr. Cornett reluctantly admits that diet and exercise are more important important than the pharmaceutical industry to the health of many individuals.  He has a black belt in karate and has run ten marathons, including Istanbul in November 2013 and Cayman Islands in December 2014.

New Leaf Venture Partners

New Leaf Venture Partners is a venture capital company formed in 25 with offices in New York and San Mateo California. The firm currently manages two funds with its most recent fund having closed at $45 million in 27. The firm is looking to make equity investments ranging from $1-$25 million over the lifetime of the investment. The firm looks for companies primarily in the United States and some select opportunities in Europe. The firm plans to make between 1-5 investments over the next year.
Mike Dybbs
Principal 

Norfolk Medical Products Inc.

Norfolk Medical pioneered the oncology market in 1981 by developing one of the first vascular access ports for long-term access.  Since then, we have continued to develop innovative cutting-edge medical devices.  Our latest development is a device for diabetes that allows the body to be insulin independent.  Our device is the world's first active immunoisolation device that facilitates the exchange of oxygen, nutrients, and waste products while protecting against the bodies immune response without the use of additional drugs or immunosuppressant’s.  We are confident that the basic principles of the device can be applied to other applications from anemia and liver failure (NASH) to ALS.  We are currently in the pre-clinical stage of research and are actively looking for a strategic partner to develop this product. 


Biotech Subsector
Biotech Phase of Development
Medtech Phase of Development
Jordan Dalton
COO 

Novo Nordisk

Novo Nordisk was founded in 1923 and is based in Bagsvaerd Denmark with additional R&D sites in Seattle WA Beijing China and Bangalore India. The firm is actively seeking to in-license assets and also forms research collaborations and co-marketing and distribution partnerships with other biotech companies. Novo Nordisk is focused on developing protein and peptide therapeutics and protein delivery devices. The firm has also in-licensed antibodies. Indications of interest include metabolic disorders blood and immune disorders growth disorders and inflammatory disorders. Within the inflammation fieldthe firm is particularly targeting therapies based on cytokines and on molecules on the surface of cells involved in immune regulation. The firm is interested in certain orphan conditions. In addition to partnering and in-licensing Novo Nordisk has a corporate venture fund Novo AS. The firm also offers research grants and resources for studies into Novo Nordisk's products.
Charles Gray
Sourcing Director 
Tomas Landh
Director 

NYU Office of Therapeutics Alliances

The NYU Office of Industrial Liaison (OIL) promotes the commercial development of NYU technologies into products to benefit the public, while providing resources to the University to support its research, education, and patient care missions. NYU OIL also facilitates research collaborations between NYU researchers and industry on projects of mutual interest.

In 2013, NYU launched the Office of Therapeutics Alliances (OTA). OTA is a nimble, "virtual biotech" approach to advance novel therapeutic projects by playing on the strengths of NYU in dissecting disease pathways and those of external, professional capabilities in early stage R&D. OTA identifies NYU projects with potential for addressing unmet needs, delineates the path to therapeutic proof of concept and assembles internal and external resources tailored to each specific project’s needs to maximize the likelihood of successful partnerships with biopharma, new biotech startups or disease foundations. 

Nadim Shohdy
Director, Drug Discovery Partnerships 
Sunil Shah
Partner 
Prashant Shah
Partner