Welcome to the twelfth edition of the Slater Technology Fund E-News, designed to keep you informed of recent developments occurring at Slater and at its portfolio companies. We hope you enjoy this communication from Slater, and we look forward to sharing more exciting news with you in the months to come. For more information, call 831-6633 or visit www.slaterfund.com. |
Slater Invests in New Drug Discovery Venture Mnemosyne Pharmaceuticals
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Slater has committed $250,000 in seed funding to Providence-based Mnemosyne Pharmaceuticals, a new venture targeting small molecule therapeutics for the treatment of schizophrenia and other cognitive and neuropsychiatric disorders. Mnemosyne's co-founders include world-class Central Nervous System researchers formerly of Pfizer, and the company counts Lifespan's vice president for research, Dr. Peter Snyder, Ph.D., as a member of its Board.
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Slater Funds Smart Grid Startup Alektrona
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Slater has invested $250,000 in Alektrona, a developer of wireless networking technology for clean energy challenges, including advanced metering infrastructure, demand side management, and other energy-focused applications. Slater's contribution is part of a $510,000 round from multiple outside investors, including Smart Grid pioneer and former utility CIO Gene Zimon.
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Slater Provides Brown University Startup Cytosolv with $500K in Seed Funding
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Slater has invested in new biomedical venture Cytosolv, developer of a unique proprietary technology to address wound healing. Co-founded in 2008 by Brown-affiliated researchers Christopher Thanos and Moses Goddard, the company is utilizing genetically pure pigs to build therapeutics aimed at tissue engineering and regeneration.
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Cardiorobotics Nabs $5 Million in Latest Financing Round & Conducts Human Trials
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Slater-backed Cardiorobotics has raised $5 million in new funding following its $11.6 million Series A round last summer. The company is developing advanced robotic probes for minimally invasive surgical procedures and recently initiated its first human use studies in Europe.
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ProThera Biologics Wins Nearly $3 Million in Grants
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ProThera Biologics, a developer of inhibitor proteins to treat conditions resulting from severe systemic inflammation and infection, recently received an NIH grant for its research into therapies for treating anthrax intoxication and a Rhode Island STAC grant for a project on fetal brain injury. A 2010 RI Business Plan Competition winner, the company has also signed a licensing agreement with Lifespan as it moves toward commercialization of its technology.
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| MoFuse Named to AlwaysOn's East Top 100 Private Companies
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MoFuse joins companies from Boston, New York and Philadelphia in the "Enabling Tools and Devices" category of AlwaysOn's list of top 100 private companies on the East Coast. Recognized for "forging solutions that will lead to industry shake-up and huge value-creation opportunities," MoFuse is currently marketing its mobile development platforms, which allow companies to recreate their websites more impressively with capabilities for building deeper sites for viewing on wireless devices. |
Dynadec Hires Veteran Technology Entrepreneur as CEO
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Providence-based Dynadec has hired high-tech veteran James G. Popeo as its new CEO. After 10 years at computational fluid dynamics software company Exa Software and over 25 total in early-stage companies in industries as varied as supply chain management, electronics manufacturing, and architectural engineering and construction, he will bring an impressive international network and extensive experience in guiding company growth.
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Tizra Inks New Publishing Deal with Columbia University Press
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Columbia University Press has selected Providence-based Tizra Inc. to distribute and sell electronic versions of its books and additional content. Other recent partnerships for the company include deals with the University of Wisconsin Press and Michigan State University Press.
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NABsys Closes $7 Million Series B
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Slater-backed NABsys Inc. recently completed a $7 million Series B equity round of investment and welcomed Dr. Leroy Hood, Ph.D., co-founder and president of the Institute for Systems Biology, to its board of directors. A DNA sequencing pioneer, Dr. Hood has helped launch Amgen, Applied Biosystems, and a number of other companies, and will assist NABsys as it moves toward commercialization of its proprietary DNA sequencing platform for mapping the human genome.
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