Demonstrates the impact of BioGenerator’s multi-stage investment programs, where increasing amounts of capital are invested in companies that successfully achieve milestones following early financing. Highlights BioGenerator’s role as a lead investor in pre-Series A funding rounds.
MediBeacon was founded by an experienced ex-industry management team that bought an asset it previously managed in a public company. The startup seeks to commercialize the first real-time kidney function monitor, and to develop other medical diagnostics and visualization technology. MediBeacon has raised an institutional financing since being first launched with BioGenerator pre-seed investment.
BioGenerator worked with the founders to license the asset package that facilitated the startup. Leveraging its first i6 award from the US Dept. of Commerce, piloting what would become the BioGenerator Grants program, BioGenerator enabled initial de-risking. BioGenerator then made the first investment in MediBeacon, served as the lead investor, and provided due diligence to other investors, including venture capital firms.
As MediBeacon advanced into the clinic BioGenerator invested three times totaling $600K; altogether the company secured ~$5M in funding. Initially, when the company did not yet have the capital to purchase lab equipment, MediBeacon utilized the BioGenerator Labs at no cost. BioGenerator Senior Vice President Charlie Bolten served on the company’s board of directors at the launch of the business. MediBeacon subsequently raised a $22.4M financing led by the PE firm Pansend and secured $30M in committments from Huadong Medicine.