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Print Edition StoriesTuesday, July 7, 2009
Excel Venture launches $125M life sciences fund
By Mass High Tech staff
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Excel Venture Management has started its first fund, the Excel Medical Fund, intended to finance both early and late-stage life science firms with the $125 million currently raised for the fund.
The fund will be used to support companies in the fields of healthcare IT, diagnostics, medical devices and life sciences platforms that touch on energy, defense, agriculture and chemicals. Already, Excel has invested in Aileron Therapeutics, a firm developing ‘Stapled Peptides’ that restore programmed cell death in multiple myeloma cells; BioTrove, which is developing ‘Universal Test Tube’ technology; and Synthetic Genomics, a firm focused on developing industrial bacteria for renewable energy, agricultural and environmental use.
The Excel Medical Fund is led by a team of managing directors including Rick Blume, Steven Gullans, Juan Enriquez and Enrico Petrillo, as well as Venture Partner Donald Crothers, and Vice Presidents Tricia Moriarty and Caleb Winder.
Blume noted in a press release that the investments will support companies in peripheral industries that are interested in incorporating life science technologies into their research and development. The Excel website states, “We believe life science technologies represent the larget single driver of the world economy’s future growth.”
Excel Venture Management is located in Boston.
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