2011 Highlights at the VDC: $10,984,000 Raised by Companies
January 31, 2012
On January 31, 2012, the Venture Development Center released highlights of its second full year of operation.
Funds raised: Seventy-eight percent of the nine life science and high tech companies at the Venture Development Center seeking investment succeeded by the end of 2011, raising $10,984,000. The average received was $1,220,444 per company. The median is $600,000. The success rate, average amount raised, and median amount raised in 2011 outpaces all other programs in Boston and even eclipses the top program in the nation.
The largest life science financing was a $5.7 million Series A venture capital investment in Novophage, which graduated to larger quarters at the Dry Dock Center in the Innovation District. The largest software company financing was a private equity investment in Anthurium Solutions.
Other companies that achieved success include 4s3 Bioscience, Pressure BioSciences, U for Life, NobleGen Biosciences, and Bioarray Therapeutics.
Proof of concept achieved: Bioarray Therapeutics generated proof of concept with a test that can predict the response to multiple-approved chemotherapies.
SBIR grants awarded: Pressure BioSciences, NobleGen Biosciences, and Novophage
Prototypes completed: Differential Proteomics completed RapiTope, an antibody profiling machine.
First paying customers closed: U for Life, Divya Energy, Symmetric Computing and Sustainability Guild International
Visit the Venture Development Center's website for more 2011 results.