Tech Council Ventures LLC Announces Advisory Relationship with Transformative Solutions, LLC
Jim Gunton joins NJEDA Incubator Advisory Board
NJ BIZ Spotlights Tech Council Ventures in "VC providers keep funds flowing in NJ."
VC providers keep funds flowing in NJ
It’s been a tough year for life sciences startups. According to a report issued by Evaluate Ltd., which provides commercial intelligence and predictive analytics for the pharmaceutical industry and their advisors, “While Big Pharma valuations ‘regained their mojo’ toward the end of last year, the outlook remains bleak for smaller scale drug developers.” And an Ernst & Young report released in May warned about a possible pullback in overall venture capital funding, noting that, “While VC investment in Q1 2023 improved by 37% over Q4 2022 – rising to $44.1 billion compared to $32.3 billion for Q4 2022 – recent bank failures and a weaker economic environment have dampened the overall outlook for the remainder of 2023.”
Still, some New Jersey-based venture capital funds are optimistic about opportunities in the early-stage segment.
With some $130 million of assets under management, the fund invests in seed and Series A financings across biotech and other industries throughout the Mid-Atlantic region. Holdings include a minority stake in Epibone, a Jersey City-based company that aims to use bone marrow stem cells to help individuals regenerate their cartilage and other skeletal cells, and a seed-stage position in Regenosine, a Princeton-based enterprise that’s developing and commercializing injectable musculoskeletal regenerative therapies for osteoarthritis.
“Before we take a stake in a company, we evaluate whether its value proposition appears to be clinically successful — how will their product make a difference, and does the science work?” Gunton said. “We also consider the management team and their clinical and capital experience: Will the team be able to raise the capital necessary to sustain the company during the years before it starts to generate revenue? It’s always somewhat of a gamble, because there are no guarantees, but we also consider proxies, including the company’s clinical trial successes and failures.”
During his three decades in the VC space, “The fundamentals remain – like a good management team that can assemble a lending syndicate – but some investing aspects are changing,” observed Gunton. “From 2000 to 2010, VC providers typically had eight- to 12-year exit strategies. But from 2013 to 2020 that dropped to a three- to five-year period. Now, though, gestations are taking longer, thanks primarily to reduced valuations and more cash constraints, and shifting drug reimbursement.”
Artificial intelligence is also impacting the VC space. “As an investor, it can be difficult to disentangle drug discovery and clinical trial documentations,” Gunton explained. “So, we can use AI to help dig down into the records, and even read images to uncover patterns. Currently, Tech Council Ventures is using AI to find and assess investment opportunities; and we anticipate increasing our use of AI in the future. We’re also investing in companies that leverage AI, like Xevant. This can open up a new chapter for investors.”
Strong fundamentals
Despite some challenges, the momentum has also not slowed appreciably at New Jersey-based investment firms like Syridex Bio, according to Managing Partner Squire Servance.
“It is a difficult environment to raise money, given the volatility and the tendency of sources to temporarily hold their capital,” observed Servance. He launched the impact-driven, life sciences-focused venture creation and private equity firm – which invests in therapies that address the needs of underserved communities – in November 2022. “But we’re continuing to talk to institutions and raise capital. Plus, we’re getting deal flow from our strong standing industry relationships.”
These unique services help clinical trial sites improve performance and efficiency. Vitalief reduces the administrative burden so clinical trial teams can focus on patient care.
Vitalief, a leading consulting and functional service provider specializing in the research and clinical trial industry, is excited to announce the launch of its new Clinical Trials Office (CTO) and Study Activation services. The offerings encompass four key services: consulting, resourcing, managed services, and learning and development which are designed to address the most pressing challenges in clinical research.
In their 2022 Site Landscape Survey, the Society for Clinical Research Sites found that “58% of respondents reported higher turnover in the last two years.” This industry-wide trend toward high attrition rates has resulted in degraded processes based on outdated systems and an acute need for staff training and development. Vitalief’s new services target the clinical trials office where the alignment of people, processes, and technologies is critical to research success.
“Our goal is to empower research organizations to achieve more,” said David Moore, CEO of Vitalief. “These new services embody our commitment to tackling the most significant issues in the industry. With our CTO and Study Activation services, we’re leveraging our expertise to provide innovative solutions to the areas where our clients need them the most.”
While the CTO services address the broader clinical trials office function with the organization, the Study Activation services focus on the specific activities that are required to start a study, including the coordination of review and approval cycles by various teams and individuals. This time-consuming process represents a significant administrative burden for trial sites.
The new service offerings are designed by a team of seasoned industry practitioners who understand the critical nature of these processes and their impact on the organization’s research goals.
“We understand the unique demands and challenges of clinical research,” said Jennifer Stanford, MSN, Director of Client Services at Vitalief. “Our CTO and Study Activation services are designed to address these challenges head-on, ensuring our clients can focus on their core research objectives while we manage the administrative and operational complexities.”
With the introduction of these new services, Vitalief continues its mission to transform research operations, driving better outcomes for clients and their patients.
Please visit our website to learn more about Vitalief’s new Clinical Trials Office and Study Activation services.
About Vitalief
Vitalief is a consulting firm specializing in research and clinical trial operations. With a team of experienced industry practitioners, Vitalief provides consulting, resourcing, managed services, and learning and development services to help research and clinical trial teams optimize their operations and achieve greater success.
For more information, visit vitalief.com and follow us on LinkedIn.
Tech Council Ventures Approved As Investment Firm To Manage Life Science/Health Care Fund Through SSBCI
Tech Council Ventures Approved As Qualified Venture Firm for the New Jersey Innovation Evergreen Fund
At TED2023, EpiBone CEO Dr. Nina Tandon gives an update on how far EpiBone has come in developing bone and cartilage replacements
Capital Formation Trends in the Technology Sector
Gain insights from Mark Kolb, Partner at Tech Council Ventures, who joined Alan Wink, Managing Director of Capital Markets for EisnerAmper to discuss tech startup funding in 2023. In this video, leaders will learn about new capital funding options, how much money funds are raising, and key milestones that can yield important dividends.
Or watch the video segment here.
Effects of Silicon Valley Bank’s collapse ripple through NJ
Portfolio company Vydia acquired by gamma.
Vitalief in collaboration with CISCRP sponsored the release of a Clinical Trials Supplement in the latest edition of USA Today
CareAlign recognized for achievements in Care Coordination and Collaboration
Xevant Announces Compliance with SOC 2 Type 2 Standards
Xevant Ranks No. 1 on the Inc. 5000 2022 List as the Fastest Growing Private Software Company in America
ReGelTec’s HYDRAFIL Technology Selected as Best Abstract Presentation at the American Society of Pain and Neuroscience Annual Meeting
NVCA Appoints Threshold’s Emily Melton as New Board Chair
WASHINGTON, DC — Today, the National Venture Capital Association (NVCA) announced that Emily Melton, Managing Partner at Threshold Ventures, will serve as the 2022-2023 Chair of the NVCA Board of Directors.
“This is a critical moment for the United States as we continue building back after two pandemic years,” said NVCA President and CEO Bobby Franklin. “I am very excited to have Emily lead the board during this important time. She knows what it takes for entrepreneurs and investors to build great companies, and she has a true gift in communicating these priorities with policymakers.”
“As Board Chair, I will push for laws, regulations, and policies that support investors and entrepreneurs tackling our most pressing societal challenges,” said Melton. “From immigration reform to the climate crisis, the U.S. must remain the most attractive place in the world to build new companies. This will undoubtedly create more American jobs along with services and products that will benefit all of society.”
Melton is preceded by Michael Brown, General Partner at Battery Ventures. Brown successfully led NVCA and its members during the pandemic and set up the VC community to help lead the recovery.
“Michael’s strong leadership and creative thinking guided us through a new administration and shifting legislative agendas,” said Franklin. “His commitment to the values that define NVCA helped advance pro-startup policies that diversified and expanded the greater venture capital ecosystem at a time when we witnessed unprecedented investments in tomorrow’s economy.”
NVCA also announced the appointment of seven new directors to its board who will serve four-year terms from 2022-2026:
- Gavin Christensen, Managing Partner, Kickstart Fund
- Beezer Clarkson, Partner, Sapphire Ventures
- Kirsten Green, Partner, Forerunner Ventures
- Nnamdi Okike, Co-Founder and Managing Partner, 645 Ventures
- Deena Shakir, Partner, Lux Capital
- Steve Socolof, Managing Partner, Tech Council Ventures
- Adam Valkin, Managing Director, General Catalyst
###
The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about the NVCA, please visit www.nvca.org.
Portfolio company CareAlign featured in Penn Medicine Press Release
Study: Care Orchestration System Developed at Penn Medicine Widely Adopted, Easy to Use
To learn more about CareAlign, visit their website at: https://carealign.ai
Portfolio company Regenosine receives a $1.67M NIH NIAMS Phase II SBIR grant
Congratulations to portfolio company Regenosine on receiving a $1.67M NIH NIAMS Phase II SBIR grant to commercially develop their disease modifying osteoarthritis drug.
Xevant CEO Brandon Newman Recipient of the Top 100 CEOs in Innovation Award 2021 of World Biz Magazine
Tech Council Ventures is proud to share this impressive news that speaks volumes to the time and dedication Brandon puts forth to lead Xevant to where it is today. Congratulations Brandon Newman, CEO of Xevant!
Brandon Newman, CEO of Xevant, has been selected by the judges of World Biz Magazine’s Annual Awards to be a recipient of the Top 100 CEOs in Innovation Award 2021. This selection follows a stringent process that evaluated over 40,000 nominees to select the exclusive list of 100 Winners.
Brandon Newman has a dynamic, 30-year leadership career spearheading several health technology businesses with an emphasis on growth, revenue, and operational excellence. He has run many high-growth environments, including start-ups, turnarounds, and $1B+ dollar businesses. As a serial entrepreneur, he has a proven record of founding new businesses andadvancing them through growth and acquisition, merger, or roll-up including ScripPoint, Veridian, and AviaraMD. Since co-founding Xevant in 2017, an innovative business intelligence company delivering client optimization solutions that create value for its customers in the payer, consulting and PBM markets, Brandon has led a diverse team of employees spanning 3 continents comprising data and software, sales and marketing, account management, and operations. He has proven to be a driving force for vision, new market strategy, revenue growth, technology development, and partner alliances.
“Healthcare is a $4 trillion business with 25% considered wasteful. Historic approaches to eliminate waste within healthcare has required a massive amount of time and resources to run and analyze reporting by the end-customer to hopefully reduce wasteful spending by 1%-3%, months to years after wasteful costs have already incurred. Our motivation isn’t necessarily groundbreaking but simply utilizes new technology and processes to achieve greater results with fewer resources and in less time.”
Continue reading the full interview here and press release here.
EpiBone CEO Nina Tandon in Netflix Series "Human: the World Within - React" Episode
Portfolio company EpiBone CEO and co-founder Dr. Nina Marie Tandon is featured in Netflix DocuSeries “Human: the World Within“. Watch the first episode, “React” on Netflix.
“React” – Through the eyes of a boxer, a first responder and a man with a bionic hand, see how the brain and its vast nervous system turn information into action.
Nina Marie Tandon is an American biomedical engineer. She is the CEO and co-founder of EpiBone, a Tech Council Ventures portfolio company.
Dr. Tandon bridges the realms of business and science, with 10 years of experience in tissue engineering and more than eight in bioreactor design. She completed two advanced degrees at Columbia University: a Ph.D. and postdoc in stem cells and tissue engineering and an Executive MBA in healthcare entrepreneurship. Named one of the 100 most creative people in business by Fast Company, she is also a TED Senior Fellow and MIT & McKinsey alum. Nina enjoys yoga, rock climbing, surfing, and growing a strong business while growing strong bone. Her TED Talk on personalized medicine has been viewed more than a million times.
Learn more about EpiBone at: https://www.epibone.com.
Bristol Myers Squibb & Tech Council Ventures 2021 HLTH Reception
Bristol Myers Squibb and Tech Council Ventures hosted a rooftop reception in Boston after attending HLTH 2021.
A beautiful evening of networking with payers, providers, employers, investors, startups, life sciences, policymakers and innovation leaders gathered and discussed promising opportunities to create health’s future.
A beautiful evening of networking with payers, providers, employers, investors, startups, life sciences, policymakers and innovation leaders gathered and discussed promising opportunities to create health’s future.
Tech Council Ventures at Propelify Innovation Festival 2021
Tech Council Ventures is proud to sponsor the 2021 Propelify Innovation Festival! Propelify 2021 – Maxwell Park Place in Hoboken, NJ (12th St & Sinatra Dr. N) October 6th from 9am-8pm
Founders, Investors, Technologists, Industry Influencers, C-Suite of Tech related Fortune 500, Enterprise Professionals, CEOs, CTOs, CIOs, VCs, Angels, Brands, Marketers, Agencies, Community Development Managers, Developers, Designers, Sales Professionals, Business Developers united for a day of networking, inspiration, innovation & entrepreneurship.
Congratulations to startups BabySafe and GeoGreens! $50K BetterWellness Challenge Winners! The BetterWellness program was brought to you by RWJBarnabas Health and TechUnited. The BetterWellness Challenge addresses and improves community wellness and/or clinical cancer treatment.
See you next year! Save the date for Propelify 2022, Oct 6!
TechUnited:BetterPlanet Challenge Semi-Finals
A BetterPlanet Experience in partnership with PSEG
The second annual TechUnited:BetterPlanet Challenge will award one final winner a $50K prize and finalists exposure, press, and mentorship. The Semi-Finals will narrow down the Semi-Finalists to three Finalists who will get to pitch on stage at TechUnited’s largest event of the year: the Propelify Innovation Festival.
This year’s Challenge focuses on the most innovative solution that promotes electrified transportation in an equitable and efficient way, and is a part of the TechUnited & PSEG BetterPlanet program.
Join us virtually, Thursday September 16th at 12PM ET to hear from leaders & innovators focusing on the future of transportation. This virtual webinar is open to all: media, investors, startups, students, and enterprises!
Register and join September 16, 2021 at 12PM ET
https://techunited.co/techunitedbetterplanet-challenge-semi-finals-2/
Speakers and Challenge Judges
Leading Clinical Nutrition Companies MEND and Upgraid Join Forces
Tech Council Ventures Managing Partner Jim Gunton visits RICOVR
MEND is thrilled to announce that we’ve taken an investment from Tech Council Ventures (TCV), an established and reputed New Jersey based Venture Capital firm with $120 million AUM. TCV has 28 exits and 5 public companies on 33 investments to date and the partners are rated among the best performers in the VC industry. The capital comes at a critical growth period where we are expanding into acclaimed hospitals and launching into national physical therapy networks.
About MEND
Founded and headquartered in New York City, MEND is a life sciences company with a mission to help people heal and live their healthiest. The company is currently researching and developing targeted clinical nutrition products to enhance patient outcomes, from injury and surgery, to aging and physical performance. MEND has been adopted by numerous hospitals, professional sports teams across all major leagues and the elite forces of the US Military.
For more information, visit mend.me or connect with us on Facebook, Instagram, LinkedIn and Twitter.
ONETIME - UQ Race Test for Printed Battery Prototypes
Background
Printed thin-film batteries are emerging technologies for powering next-generation Internet-of-Things devices. Researchers from The University of Queensland (UQ) have been supporting a leading company in this industy, Printed Energy Pty Ltd, on research and development of printed thin-film batteries through a Commonweath Government funded CRC project. Now, we are ready to test one of the prototypes of a real application of these printed batteries. The printed battery-integrated race timing bibs can be an alternative approach for timing the race event by eliminating the necessity of large timing infrastructures.
Come and explore how this technology can create changes for timing the race event by integrating printed thin-film batteries with timing bibs. Your great support as volunteer runners will help us to properly evaluate the prototypes of this innovative technology in real environmental conditions and improve this technology in the near future. This 10 km race test will be held at UQ St Lucia campus along the riverfront St Lucia Parkrun course on 26th of June 2021. This is not a competition, rather completion of the 10 km run is what we really appreciate. Please come and be part of the action. Look forward to meeting you there!
Event Times
Check-in: 8:30am – 9.15am
Race Briefing: 9.20am
Race test starts from: 9:30am
Check-in Venue: Play field 7 (Athletic playground), Sir William MacGregor Dr, St Lucia QLD 4067
Running course: Sir William MacGregor Dr, St Lucia QLD 4067 (St Lucia Parkrun Course)
All registrations are online only and close Friday (25th of June 2021) before the event
Event Pricing
This is a free event with maximum runners of 30. Small souvenirs will be provided for volunteer runners.
Visit https://events.onetime.sport/event/936 for tickets and additional info.
Introduction of the Team
Printed Energy is the industry lead participant of the CRC-P printed battery project, working with two Australian leading universities UQ and UNSW. Prof. Lianzhou Wang, an ARC Laureate Fellow at UQ’s School of Chemical Engineering and Australian Institute for Bioengineering and Nanotechnology (AIBN), is leading the research team at the UQ Dow Centre for Sustainable Engineering Innovation and has been working collaboratively with the other team leaders Prof. Chris Greig, Prof. Vicki Chen and Prof. Dawei Wang to support Printed Energy on their commercialization targets.
More printed battery story about this project can be found here.
Component Attachment for ONETIME Inlays – by SunRay Scientific
Contact
I
Dr. Miaoqiang Lyu, UQ Dow Centre, School of Chemical Engineering, The University of Queensland
Email: m.lyu@uq.edu.au
Phone: 0431823486