Venture, Grants and Funds Announcements
Mass General Brigham Ventures
- $450 Million Capital Under Management
- 48 Portfolio Companies
- 15 Exits
- $148 Million Realized & Publicly Traded
Verve Therapeutics completes $306.7 million IPO We are pleased to announce that Verve Therapeutics completed its initial public offering (NASDAQ: VERV). The company upsized its offering by 2.2 million shares and priced above the range (offering 14 million shares at $19.00/share). See full article here
Artificial Intelligence and Digital Innovation Fund Announcements
AIDIF recently made two $1 million Series A funding rounds.
Carta Healthcare, AI and machine learning to take data and populate registries and forms. Codametrix licensed in the company’s core technology. Engaging several MGB groups regarding Carta’s patient registry and analysis products.
DexCare, a Providence Health spin-out that built a digital platform that helps patients navigate through a provider’s digital offering. DexCare will be launched this summer/fall within MGB iCare in an Urgent Care offering.
In June of 2021 Brigham and Women’s Hospital launched Brigham Ignite, a program designed to help kindle and advance discoveries with clinical and commercial potential. Since the launch the program has reviewed eleven pre-proposals, consulted with dozens and recently held a Fast Pitch for Funding. The July 13-15 event provided the opportunity for fourteen teams to pitch experts on their research from 6 BWH departments. Presenters receive immediate feedback with the opportunity for assistance in applying for the grant programs which provide up to $200,000 per project, business coaching, and project management.
Recent Press: Brigham Ignite: The Spark That Catalyzes Innovation: If a brilliant idea begins with a spark, it needs tinder to keep burning and, eventually, to catch on. Read More about Ignite
The Summit Fund
In 2018 the Mass Eye and Ear’s Summit Fund awarded Aaron Remenschneider, MD, Investigator, Eaton-Peabody Laboratories, and Elliott Kozin, MD, Mass Eye and Ear surgeon, for research specializing in 3D printed tympanic membrane graft technology. In 2021 they founded Beacon Bio which was acquired by Desktop Health, leading to Mass Eye and Ear receiving $700,000 from the liquidation event. From this, Harvard garnered a 4% royalty on future sales, $15-75K annual license fees, 10-20% sublicense income, and ~$125K back patent costs.
This exciting outcome was made possible because of the Summit Fund’s investment in generating pre-clinical efficacy data, which attracted follow-on funding from the Wyss Institute, the project management leadership of Erin McKenna, and tremendous efforts of Licensing Managers Christine Taft, PhD and Aru Ananthanarayanan, PhD in collaborating with Harvard to finalize the license.
Printed from https://innovationblog.partners.org/venture-grants-and-funds-announcements-and-updates · Published 03 Aug 2021
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