Investments For more information, please see Pacific Horizon Venture's Valuation Policy. Koronis Pharmaceuticals, Inc. is developing drugs for the treatment of chronic viral diseases, initially targeting HIV and the Hepatitis C Virus. The company's "Viral Decay Acceleration" mechanism developed at the University of Washington and MIT presents a completely novel antiviral therapeutic designed to alter genetic foundation of virus and avoid drug resistance. ViaCyte, Inc. is engaged in the development of novel therapies for the treatment of insulin-dependent diabetes. A cell expansion program promises to increase the available supply of transplantable human pancreatic islets and a cell encapsulation program will permit transplants without immunosuppression. SleepMed, Inc. was formed by the 1999 merger of Digitrace Care Services and Sleep Disorder Centers of America. The company is the nation's leading provider of diagnostic and treatment services for sleep disorders and epilepsy. SleepMed has developed sleep disorder diagnostic systems—tests which can be administered in the lab or on an outpatient basis using the company's proven ambulatory technology. Transmolecular, Inc. is a biotechnology company targeting disorders of the central nervous system. The company is committed to discovering, developing, and commercializing novel, targeted therapies for glioma, metastatic brain tumors, and aggressive cancers with limited treatment options. Transmolecular is based in Cambridge, MA. Distributed Life Science Companies Argos Therapeutics, Inc. Argos Therapeutics is an immunotherapy company developing new treatments for cancer, infectious and autoimmune diseases, and transplantation rejection. The company has generated multiple platform technologies and a diverse pipeline of products based on its expertise in the biology of dendritic cells - the master switch that turns the immune system on or off. Headquartered in Research Triangle Park, NC, the company has clinical trial programs in metastatic renal cell carcinoma (RCC) cancer, human immunodeficiency virus (HIV) and systemic lupus erythematosus (SLE). AtheroGenics, Inc. AtheroGenics developed a drug called AGI-1067. The antioxidant with anti-inflammatory properties helps control blood sugar levels, and clinical trial data suggested it could reduce heart attacks and strokes. AGI-1067 previously was aimed at treating heart disease. But it failed to show a difference from a placebo in a late-stage clinical trial. AtheroGenics filed for bankruptcy in 2008. In 2009, AtheroGenics entered into an asset-purchase agreement with Crabtree Acquisition Co. LLC to sell its assets for $2 million. CareWise, Inc. Carewise operates The CareWise System, a nurse referral service that delivers specific information about various medical conditions and concerns directly to healthcare consumers through sponsoring client relationships that include United Airlines, HMO Blue/Blue Cross Blue Shield of New Jersey, the American Postal Workers' Union Health Plan, and others. The company was acquired by PhyCor in June 1998 in a pooling-of-interests, tax-free exchange. CellPathways, Inc. Cell Pathways, Inc., is a development-stage pharmaceutical company focused on the research, development and commercialization of novel and unique compounds to prevent and treat cancer. In 2003, Cell Pathways was acquired by OSI Pharmaceuticals for $74.6 million. OSI, based in Melville, N.Y., also specializes in cancer therapies. Diametrics Medical, Inc. Diametrics Medical Inc. manufactures and markets proprietary blood chemistry analysis systems that give immediate diagnostic results at the patient point of care. Their products include IRMA & trade, blood analysis system, idms & trade integrated data management system, and Neurotrend & trade cerebral tissue monitoring system. The company focuses on research and development activities of a new line of products aimed at continuous glucose monitoring & control in critically ill patients. Focal, Inc. Focal, Inc. develops, manufactures and commercializes synthetic, absorbable, liquid surgical sealants based on the company's proprietary polymer technology. The company's FocalSeal-L™ and FocalSeal-S™ surgical sealant products are currently being developed for use inside the body to seal leaks resulting from lung, neurological, cardiovascular and gastrointestinal surgery. Focal has entered into an exclusive distribution agreement for its surgical sealant products for lung, cardiovascular and gastrointestinal surgery in North America with Genzyme Surgical Products and has exclusively licensed the marketing rights to these products outside North America to Ethicon, a Johnson & Johnson company. Health Systems Technologies Health Systems Technologies developed software systems for managed care organizations to provide integrated information exchange member eligibility, contract administration, system utilization, and financial performance. The company failed to achieve sales objectives and was liquidated in May 1999. Illumigen Biosciences, Inc. Illumigen Biosciences, Inc. used proprietary genetic technologies to identify naturally occurring health-inducing mutations. These beneficial mutations provide a rapid method for developing novel drugs with improved efficacy and fewer side effects. Illumigen focused its technologies to develop drugs to treat hepatitis C infection, obesity, and other diseases. In December 2007, Illumigen was acquired by Cubist Pharmaceuticals. Inhibitex, Inc. Inhibitex is a biopharmaceutical company that is pursuing the development and commercialization of products for the infectious disease market. Inhibitex has a proprietary technology platform that utilizes antibodies to fight bacterial infections. iScience Interventional, Inc. iScience is a medical device company focused on the development and commercialization of innovative imaging systems and microsurgical instruments for the minimally invasive treatment of glaucoma. Through the use of high resolution imaging technology and novel microsurgical instruments, the company will enable surgeons to locate, access and treat the blocked ocular drainage passages responsible for glaucoma. Glaucoma currently affects more than 4.2 million Americans and 69 million people worldwide. NeoPath, Inc. NeoPath developed the AutoPap Primary Screening System to distinguish between normal Pap smears and those that have the highest likelihood of abnormality. NeoPath merged with Burlington, North Carolina based AutoCyte, Inc. on September 30, 1999 to form TriPath Imaging, Inc. Norian Corporation Norian Corporation was formed in 1987 to develop skeletal repair systems. Norian's first product, Norian SRS, is an injectable bone cement used for fixation and replacement of cancellous bone in fractures of the wrist, hip, knee, ankle, shoulder, face, skull and spine. Norian was acquired by Synthes-Stratec, Inc on June 17, 1999. Orquest, Inc. Orquest focused on orthobiologics, a technology approach that seeks to transform the clinical practice of orthopedics by moving away from traditional metal implants to biologically based products. Orquest combined expertise in tissue biology and biomaterial science and focused on orthopedic problems including spine surgery, fractures, and cartilage repair. The company had two proprietary core technologies. Healos® Bone Graft Substitute - designed to reduce the time and pain associated with spinal fusion surgery, and Ossigel® - an injectable product designed to improve fracture healing. Orquest was purchased by Depuy Acromed, a subsidiary of Johnson & Johnson in January, 2003. Rasiris, Inc. Rasiris focused on the development of a revolutionary approach to the use of photodynamic therapy (PDT) and the treatments of breast cancer and age-related macular degeneration. Rasiris was spun out of Montana State University in May 2003 and received financial support from Pacific Horizon Ventures to validate the proof of concept in an animal model. The company was dissolved in 2011. Sapient Health Network, Inc. Sapient Health Network Inc., is now part of WebMD. Tandem Medical, Inc. Tandem is a medical device company located in San Diego. The company manufactures and sells an automated drug delivery system primarily for use in home-administered IV's. The device is a relatively simple mechanical pump that is simpler and safer to use than standard IV therapy. Therion Biologics Corporation Therion Biologics Corporation was engaged in the development of therapeutic vaccines for cancer and preventive vaccines for AIDS. The company had three lead programs involving multiple clinical studies for the treatment of major cancers, including prostate, colorectal, breast cancer and melanoma. The company also had a major corporate alliance with Aventis Pasteur for the development of therapeutic vaccines for colorectal and lung cancers and melanoma. Therion failed to attract additional funding and was liquidated in December 2006. Tissue Repair Company Tissue Repair Company is a San Diego biopharmaceutical company with a clinical-stage focus on products that promote tissue repair. Its scientific expertise is broadly based in gene therapy, growth factor biology, tissue regeneration and product development. Trimeris, Inc. Trimeris, Inc. engages primarily in the commercialization of a class of fusion inhibitors for antiviral drug treatments. The company's fusion inhibitors prevent viral fusion, a complex process by which viruses attach to, penetrate, and infect host cells. It offers FUZEON, a human immunodeficiency virus (HIV) fusion inhibitor and a 36-amino acid synthetic peptide that binds to a key region of an HIV surface protein called gp41 under a collaboration with F. Hoffmann-La Roche Ltd. The company's FUZEON inhibitor blocks HIV viral fusion by interfering with certain structural rearrangements within gp41 that are required for HIV to fuse to and enter a host cell. It also holds TRI-1144, a next generation fusion inhibitor candidate that completed Phase I clinical trials. The company was founded in 1993 and is based in Durham, North Carolina. VitaGen, Inc. VitaGen Inc., a biotechnology and medical products company, developed one of the world's first external artificial human livers - the ELAD™ (Extracorporeal Liver Assist Device), a two-chambered hollow-fiber cartridge containing a cultured human liver cell line (C3A). VitaGen failed to attract additional funding and was liquidated in April 2003. Distributed Technology Companies The following companies were mostly part of our initial fund, KLP's portfolio, which had a broader technology focus. Coral Systems, Inc. Coral Systems was acquired by Lightbridge Inc. in September 1997. Lightbridge provides customer relationship management solutions that enable communication service providers to initiate and maintain relationships with their subscribers. Lightbridge is headquartered in Burlington, Massachusetts. Creative Multimedia CMC was founded in 1987 to publish The New England Journal of Medicine on CD-ROM format. CMC was acquired by IHSG in June 1995, in a cash transaction. Edmark Corporation Edmark is a leading developer and publisher of quality consumer and education software for kindergarten through 12th grade. Edmark was acquired by IBM on November 13, 1996 in a cash transaction. Innova Corporation In 1998, Innova was acquired by DMC Stratex Networks, Inc. DMC Stratex Networks, Inc., is one of the world's foremost solutions providers for broadband wireless access -- enabling the development of complex communications networks worldwide. Since its founding in 1984, the company has achieved international recognition for quality, innovation, and technical superiority in delivering data, voice, and video communication systems, including comprehensive service and support. Proxim, Inc. Proxim Wireless Corporation (OTCQX: PRXM) is a leading provider of end-to-end broadband wireless systems that deliver the quadruple play of data, voice, video and mobility to all organizations today. They are 100 percent focused on wireless technology, and that focus enables the company to provide a complete portfolio of WLAN, Wi-Fi mesh, WiMAX (point-to-multipoint), and point-to-point technologies. RTIME, Inc. RTIME provides networking software that enables real-time performance for multi-player, internet games. RTIME was acquired by Sony Computer Entertainment America, Inc. (NYSE: SNE) in August 2000 in a cash transaction. Return to top of page ^ © Pacific Horizon Ventures, 2010.