Welcome to the fifteenth edition of the Slater Technology Fund E-News, designed to keep you informed of recent developments occurring at Slater and 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.
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Slater Participates in $28 Million Financing for Medical Device Company
Slater committed $500,000 to an investment in medical device firm IlluminOss Medical as part of a $28 million Series C financing. The company, based in East Providence, R.I., is pioneering the development of minimally-invasive, photodynamic orthopedic implants for the stabilization and treatment of bone fractures. Founded in 2007 by Bob Rabiner in collaboration with orthopedic surgeons from Lifespan/Rhode Island Hospital, IlluminOss has previously raised in excess of $22 million in venture capital funding. [more]
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Slater Invests in 3D Surgical Imaging Startup Lucidux
Slater has committed $250,000 in funding to Lucidux, a developer of 3D imaging technology for use in minimally invasive surgery and related clinical applications. A winner of the 2011 R.I. Business Plan Competition, Lucidux is led by local entrepreneur Jason Harry, who previously founded Afferent, in collaboration with corporate partner Photon-X and researchers from Brown University and Rhode Island Hospital. [more]
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Slater Provides Funding to Energy Startup VoltServer
Slater has invested $250,000 in VoltServer, a Charlestown-based developer of electrical energy management and delivery technology. VoltServer's approach enables the safe transfer of higher levels of power to downstream equipment and was named 2011's "Innovation of the Year" in the energy and environment category by Providence Business News. Founder Steve Eaves is also the founder of successful R.I. lithium ion battery company Modular Energy Devices. [more] |
Slater Reinvests in VCharge
Slater has committed $250,000 in new funding to VCharge, bringing its total investment in the energy management services company to $500,000. Slater participated alongside multiple co-investors in this funding round, which will enable VCharge to install its SmartBricks controls on electric thermal storage heating systems in hundreds of homes and business in Pennsylvania, where it was recently named an Electric Generation Supplier to PPL Electric Utilities' customers. [more]
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Slater Increases Its Investment in MoFuse
Alongside other investors, Slater has reinvested in Warwick-based MoFuse to aid the company's expansion of its mobile web development solution for businesses. The new funding brings Slater's total investment in MoFuse to $580,000. The company has established relationships with a number of partners who connect thousands of smaller businesses to the MoFuse solution. Its customers include Hearst, Post Media, United Business Media and Digital First Media. [more]
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ProThera Biologics Attracts $750K in Funding, Appoints Slater Venture Partner to Board
Slater-backed ProThera Biologics, a biomedical company spun out of the research labs of Lifespan, obtained $750,000 in new funding, including a $500,000 grant awarded by the National Institutes of Health (NIH) as part of the federal government's Small Business Innovation Research (SBIR) program and $250,000 in equity investment from Slater. The company also appointed Slater venture partner Scott Schorer to its board of directors. [more]
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Slater-Backed Healthcare IT Company Raises $2 Million 'A' Round
RxVantage, the leading developer of web-based communication and scheduling solutions that enable medical offices to efficiently coordinate interactions with experts from healthcare and pharmaceutical companies, raised $2 million in 'A' round funding, led by Javelin Venture Partners of San Francisco. The company, which was founded in 2009 with seed funding from Slater, also completed its acquisition of RxAssist, a nationally recognized medication assistance resource center headquartered in Rhode Island.
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EpiVax Nabs Second NIH Grant of 2012
Providence-based EpiVax Inc. received a Small Business Innovation Research (SBIR) grant from the National Institutes of Health to re-engineer the main therapeutic used to control bleeding and help heal hemophiliacs' wounds. The grant is the company's second from the NIH in 2012 and will enable it to produce therapy for hemophilia patients. EpiVax is also currently researching formulation, dosage and delivery for Tregitope, a peptide that has been shown to suppress and treat autoimmune disease and allergies. [more] |
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Slater Celebrates Local Healthcare IT Innovators
More than 200 of R.I.'s best and brightest entrepreneurs came together in Davol Square recently for a Slater Sushi event focused on healthcare IT. Featuring local healthcare IT innovators, including New England's most successful entrepreneur in the space, the event was a success, and we thank all who attended. We hope you enjoy these periodic get-togethers and learned something new this time around. Stay tuned for more details on our next sushi night!
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