- Company Inception
- Proof of Concept (in Vivo/Human)
- Development
- Growth
- Exit (IPO/M&A or Partnership)
- Commercial Success
- Company Inception
- $1-4M Seed Funding In Vivo Proof of Concept
- $5-20M First Institutional Funding—Human Proof of Concept
- $20-100M Follow on Euqity Rounds to Fund Clinical Trials
- Exit (IPO/M&A or Partnership)
- Commercial Success
- Company Inception
- $1-5M Seed Funding In Vivo Proof of Concept
- $5-20M First Institutional Funding—Human Proof of Concept: Regulatory Clearance; Commerical Launch
- $10-40M Follow on Equity Rounds to Fund Commercialization / market penetration
- Exit (IPO/M&A or Partnership)
- Commercial Success
- Company Inception
- $1-5M Seed Funding Commercial Proof of Concept
- $5-20M First Institutional Funding—Build Infrastructure; Add Major Customers
- $20-40M Follow on Equity Rounds to Fund Commercialization/market penetration
- Exit (IPO/M&A)
- Commercial Success
| Angel / Seed Round | Commercialization Round | Growth Round | Exit / Liquidity | Commercial Success | |
|---|---|---|---|---|---|
| WuXi PharmaTech NYSE:WX (Shanghai) | Raised $2.2M Angel Round 2003/4 |
Raised $19.2M VC Round 2005 |
Raised $50M pre-IPO Series C Round (Institutional) | IPO on NYSE Aug 2007 NYSE: WX 2007 | Annual Revenues $370M; NYSE Listed: Market Cap $800M |
| Advanced BioHealing (San Diego) | Raised $2.4M Angel Round 2004 |
Raised $8.0M VC Round 2005 |
Acquired Marketed Products from Smith & Nephew 2006 |
Sold to Shire Pharmaceutical for $750M in cash in 2011 Q2 | Annual Revenues $250M |
| QuantumBio (State College, PA) | In-Licensed PSU Technology; Raised $250K from BFTP 2002/3 |
Raised $1.1M Life Science Greenhouse/ Angel Round 2003 |
Raised $3.5M SBIR/STTR Grants 2004-2009 | ||
| MedAvante (Princeton, NJ) | Raised $6.7M Hybrid Angel/ VC Round 2007 |
Raised $20.0M VC Round 2008 |
Growing service revenues at 80%+ annual rate 2009-2011 | ||
| Core Essence Orthopaedics (Ft.Washington, PA) | Raised $2.9M Angel Round 2010 |
Raised $5.2M VC Round 2011 |
Doubling seven figure product revenues in 2011 v. 2010 |
Walter Greenblatt & Associations Transaction
Follow-ons completed by company affiliates or others