LISNR, AHALOGY ON LIST OF TOP MIDWEST VC FUNDINGS IN 2015

Portfolio companies LISNR and Ahalogy are on ChicagoInno’s list of 20 Biggest Midwest VC Tech Fundings in 2015. LISNR, whose technology uses proprietary inaudible sound waves to connect devices, is ranked #19 with a $10M Series B round led by Intel Capital. Ahalogy, which helps brands scale marketing on Pinterest, is ranked #20 with $8M in VC funding and debt funding.

Assurex Health announced a $15M Series D extension in late December, on the date the article was published. This deal would have ranked #14 on the list.

The list did not include Chicago companies, which were ranked separately.

Read the full story here.

ENABLE INJECTIONS AND FLEX PARTNER FOR PRODUCTION OF WEARABLE HIGH VOLUME INJECTORS

Enable Injections, which develops and manufactures wearable devices that allow a patient to easily self-administer high volume injectable drugs has entered into a product development and manufacturing partnership with Flex (NASDAQ:FLEX), the global sketch-to-scale solutions company that designs and builds intelligent products for a connected world.

Said Paul Humphries, president of High Reliability Solutions at Flex, “We are proud to have been selected as Enable Injections’ manufacturing partner, and thrilled to be helping bring innovative, high quality wearable medical devices to the pharmaceutical and biotech industries.”

“Flex is the recognized leader in high volume manufacturing of body-worn injection systems,” said Michael Hooven, Enable’s president and CEO, in a news release. “We very much look forward to partnering with Flex to satisfy pharmaceutical and biotech company requirements for high reliability, high volume manufacturing.”

Read the full release here.

ASSUREX HEALTH PARTNERS TO #TACKLEDEPRESSION

The National Network of Depression Centers (NNDC) and Assurex Health are teaming up to launch #tackledepression, a national social media campaign to raise awareness that depression is a treatable illness. The campaign kicks off with an advertorial featured in the Super Bowl 50 special edition of USA Today.

The national print ad explains that mental illnesses like depression and anxiety are often misunderstood and carry a stigma, however the reality is one in seven Americans will suffer from depression in their lifetime, and shouldn’t be afraid to talk about it and seek treatment. It features a former NFL lineman who experienced and was treated for depression.

An accompanying opinion piece by Assurex Health CEO Gina Drosos ran in the Cincinnati Enquirer.

Assurex Health is a leader in genetic testing that assists healthcare providers in getting patients experiencing depression and other behavioral health conditions on the right medication faster.

Read the full release here.

SWEAT TECHNOLOGY IS BECOMING A HOT TOPIC

There is growing attention on the next generation of wearables: health-focused, biosensing technology striving for medical grade accuracy. Portfolio company Eccrine Systems drew notice in a trend story in Pitchbook’s 2015 Annual US Venture Industry Report. Eccrine Systems is developing non-invasive electronic patches to provide real time analysis of biomarkers in sweat, offering a window into a person’s physiological wellness.

Increasingly, Eccrine Systems co-founder and Chief Science Officer Dr. Jason Heikenfeld is being recognized as an expert in this new and important space. Last year he authored an influential article in industry publication IEEE Spectrum and was quoted in The Economist; more recently the journal Nature and the Wall Street Journal, have turned to him for insight and perspective. In late 2015, the US Air Force Research Lab awarded Eccrine Systems an $860K multi-year R&D contract focused on sweat sensing technology.

CincyTech Receives $10M Ohio Third Frontier Award to Create Fund IV LLC

CincyTech has received a $10 million dollar loan from Ohio Third Frontier to help it create CincyTech Fund IV LLC. This will enable CincyTech to continue its mission of investing in high potential life science and technology- based startup companies in Southwest Ohio.

CincyTech has raised $20 million in local matching money— a requirement of the loan— from southwest Ohio institutions, foundations and individuals, bringing the total of CincyTech Fund IV LLC to $30 million. Organizations that have committed to invest in Fund IV include the Greater Cincinnati Foundation, Castellini Management Company and Interact For Health, in addition to more than 70 private investors.

Fund IV will be CincyTech’s largest to date. Like CincyTech’s first three funds, Fund IV will make equity investments in companies focused on technology and the life sciences that are located in or willing to move to southwest Ohio.

“The new fund will allow CincyTech to invest in up to 25 new, high potential technology and life science companies over the next five years,” said CincyTech President and CEO Robert W. Coy. “The impact of Ohio Third Frontier is evident in the number of tech startups thriving in southwest Ohio, and in the quality of the companies we are helping to create and grow.”

Companies in CincyTech’s portfolio include Mason-based Assurex Health, which employs 400; downtown-based LISNR, which has received investment from Intel Capital; Enable Injections, Zipscene and Eccrine Systems.

Since 2007, CincyTech has invested $25.5 million in 60 companies, which have gone on to raise $506.2 million dollars in co- and follow-on investment, to generate $187.4 million in revenues and to create and retain 789 jobs with an average salary of $75,500.

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