Investment Summary

Spring Mountain Capital Invests In Vergent Bioscience

On June 12, 2018, growth capital firm Spring Mountain Capital invested in life science company Vergent Bioscience

Investment Highlights
  • This is Spring Mountain Capital’s 3rd transaction in the Life Science sector.
  • This is Spring Mountain Capital’s 17th transaction in the United States.
  • This is Spring Mountain Capital’s 1st transaction in Minnesota.

Investment Summary
Date 2018-06-12
Target Vergent Bioscience
Sector Life Science
Investor(s) Spring Mountain Capital
Deal Type Venture

Target

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.

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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 18 of 28
Sector (Life Science) 3 of 7
Type (Venture) 8 of 18
State (Minnesota) 1 of 1
Country (United States) 17 of 26
Year (2018) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-07 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-07 RiskSense

Sunnyvale, California, United States

RiskSense provides vulnerability management and prioritization to measure and control cybersecurity risk. The cloud-based RiskSense platform uses a foundation of risk-based scoring, analytics, and technology-accelerated pen testing to identify critical security weaknesses with corresponding remediation action plans, dramatically improving security and IT team efficiency and effectiveness. RiskSense was founded in 2015 and is based in Sunnyvale, California.

Buy -
Mergr

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