Investment Summary

Spring Mountain Capital Invests In ReNetX Bio

On May 7, 2018, growth capital firm Spring Mountain Capital invested in life science company ReNetX Bio

Investment Highlights
  • This is Spring Mountain Capital’s 2nd transaction in the Life Science sector.
  • This is Spring Mountain Capital’s 16th transaction in the United States.
  • This is Spring Mountain Capital’s 1st transaction in Connecticut.

Investment Summary
Date 2018-05-07
Target ReNetX Bio
Sector Life Science
Investor(s) Spring Mountain Capital
Deal Type Venture

Target

ReNetX Bio

New Haven, Connecticut, United States
ReNetX Bio mission is to provide first-in-class therapeutics to treat injury and damage to the central nervous system (CNS) in conditions such as spinal cord injury (SCI), stroke, and glaucoma. The company was founded based on the innovative technology from Dr. Stephen Strittmatter's work at Yale University to restore neurologic function after CNS injury. ReNetX Bio is based in New Haven, Connecticut.

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Investor(S) 1

Investor

Spring Mountain Capital

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Spring Mountain Capital is a growth capital firm focused on providing expansion capital to tech-enabled companies across North America. The Firm looks to invest in earlier stage companies ($2 to $10 million of revenue) with high growth rates, proven products/services, and a path to profitability. Spring Mountain generally looks to commit $5 to $15 million per transaction. Spring Mountain Capital was formed in 2001 and is based in New York City.

DEAL STATS #
Overall 17 of 28
Sector (Life Science) 2 of 7
Type (Venture) 7 of 18
State (Connecticut) 1 of 2
Country (United States) 16 of 26
Year (2018) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-20 Home Captain

Brooklyn, New York, United States

Home Captain offers a web and mobile MLS-integrated home search app, an AI-powered chatbot, multiple world-class real estate concierge services, portfolio retention services, and a patent-pending agent matching technology. Home Captain was founded in 2013 and is based in Brooklyn, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-12 Vergent Bioscience

Minneapolis, Minnesota, United States

Vergent Bioscience is a biotechnology company developing a tumor-targeted, fluorescent probe to help surgeons quickly identify and completely remove cancerous tissue during surgery. Surgery is often the first-line treatment for solid tumors and the prognosis of a procedure is highly correlated with achieving complete tumor removal. When injected prior to surgery, Vergent’s molecularly-targeted probe binds to enzymes overexpressed in tumor tissue, activating a brightly fluorescing dye. The cancer “lights up,” providing the surgeon a clear visual guide for the surgical removal of the tumor and associated metastases. Vergent’s proprietary probe is under development for use in multiple cancers including lung, breast, ovarian, colorectal, and brain, among others. Vergent Bioscience was founded in 2016 and is based in Minneapolis, Minnesota.

Buy -
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