Welcome to the sixteenth 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-Backed Nabsys Secures $20 Million in Series D Funding
Nabsys, a Providence-based life sciences company working to develop better ways to understand the DNA of cancer cells, recently completed a $20-million Series D round led by Bay City Capital. Beginning in 2004, Slater has provided incremental funding to Nabsys, with a total aggregate investment of $725,000. This latest investment brings the total dollars raised by Nabsys since its founding to $41 million. [more]
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Mnemosyne Secures Additional $6 Million in Series A Funding
Slater-backed portfolio company Mnemosyne Pharmaceuticals Inc. closed on an additional $6 million in Series A financing for its drug discovery efforts focused on the identification of new drug treatments for schizophrenia and other neuropsychiatric disorders. The new funding brings the total of Series A financing raised to $11.4 million, combined with an earlier $5.4 million in Series A financing in 2012. [more]
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Medrobotics Secures $10 Million in New Funding
Slater-backed Medrobotics Corporation, an emerging medical robotics company developing the innovative Flex™ Robotic System, announced the recent closing of up to $10 million in new debt financing from Hercules Technology III, L.P., an affiliate of Hercules Technology Growth Capital, Inc. This latest infusion follows on the heels of its conversion of $33.6 million in notes into Series D preferred stock in December of last year. [more] |
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Slater Invests $500,000 in VoltServer
Slater announced a $500,000 participation in the Series A round for VoltServer, Inc., an East Greenwich-based energy technology company, which Slater had previously seeded with $250,000 in May of 2012. At almost $2.2 million dollars, the Slater-led round was oversubscribed and included funding from Marker Hill Capital, Angel Street Capital, Clean Energy Venture Group, Natural Resource Capital Management, as well as other individuals. [more]
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Slater Commits $250,000 in Funding to Absolute Commerce
Slater recently committed $250,000 in funding to Absolute Commerce, a Rhode Island-based company that is developing a solution to make it easier for large companies to purchase the goods and services they need more efficiently and economically. Absolute Commerce's electronic procurement technology aims to speed the process of integrating suppliers' product catalogs with buyers' enterprise resource management (ERP) systems, enabling companies to control costs, minimize risk, and increase their competitive advantage. [more]
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Slater Invests in Providence-Based Healthcare Mobile Messaging Startup
Slater has committed $250,000 towards a $750,000 seed round for Care Thread, a provider of secure mobile messaging and team-based collaboration solutions that empower healthcare providers to maximize communications and productivity across care teams. Care Thread, which was recently named "App of the Month" by Nuance Healthcare, will use this new investment to advance the development and commercialization of its mobile messaging solution. [more] |
IlluminOss Medical Names Dirk Kuyper as Chief Executive Officer
Slater-backed IlluminOss Medical, a privately held clinical-stage medical device company pioneering the development of minimally invasive, patient-customized orthopedic systems for the stabilization and treatment of bone fractures, announced that Dirk M. Kuyper has joined the company as president and CEO. Mr. Kuyper has had a long and successful career in medical device companies, with his efforts focused on development and implementation of strategy, and driving revenue growth from key market segments. [more]
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Slater Invests In Life Sciences Startup Tivorsan Pharmaceuticals
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EpiVax Advocates New Vaccine Approach to Combat Flu Strain
Slater-backed biotech company EpiVax Inc. recently completed an analysis of the new strain of what's being called the Shanghai bird flu, known as H7N9. Conducted by Founder and CEO Dr. Anne S. De Groot and her team of researchers, EpiVax's findings revealed that standard approaches to developing flu vaccines won't be effective to combat strains like H7N9, and that new strategies are needed as the virus has the potential to become a worldwide threat. [more]
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MoFuse Inks Contract with Affinion
Slater-backed MoFuse has established a partnership with The Affinion Group, the global leader in the designing, marketing and servicing of comprehensive customer engagement and loyalty solutions. The agreement makes MoFuse its official mobile web provider and will generate exposure to thousands of local businesses. For this program MoFuse creates custom mobile web content management platforms as well as service and support to these local businesses. [more]
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VCharge Cited in Demand Response Program Report
Slater portfolio company VCharge, whose next generation demand response technology controls hundreds of homes and business in Pennsylvania, recently had its technology cited in a report entitled 'Demand Response as a Power System Resource' prepared by Synapse Energy Economics, Inc. The report's authors noted that VCharge is able to arbitrage energy prices, enabling it to provide the lowest-cost heating energy prices of approximately 40 such suppliers via a pilot program in northeastern Pennsylvania. [more]
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Andera Forms Partnership with Q2ebanking Andera, a Slater-backed portfolio company, announced it has formed a partnership with Q2ebanking, a virtual banking provider for financial institutions. Providence-based Andera, a financial software company that simplifies account opening and lending for financial institutions across numerous platforms, will enable Q2 to integrate Andera's oFlows solution with its e-banking platform. [more] |
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CEOs Gather for Networking Dinner
Slater recently hosted an intimate gathering of founders and CEOs of ventures with which Slater is involved. The life sciences/biomedical, infotech and energy sectors were represented at the dinner held at Waterman Grille. Guest speakers Nick MacShane, senior managing director of Progress Partners, and Ted Danse, president and CEO of Neurotech, shared their insights on the latest trends affecting the venture capital and private equity industries. Stay tuned for more details on future gatherings!
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