Local Tech Incubator Invenshure Is Raising $10 Million

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Minneapolis headquartered Invenshure is raising a $10m debt round to fuel the scale of their incubation style business model.

Formed in 2012 and co-led by returning tech entrepeneurs Danny Cunagin & Troy Kopischke, Invenshure exists to commercialize intellectual property and spinout venture-backed companies.

Over the past five years, they have launched seven unique companies that CFO Mark Sylvester says represent over $300m in combined valuations.   With a bend towards the healthech side of things, though not exclusively, in order of oldest to newest:

Exosite – Exosite is an IoT software company with locations across the globe. Our unparalleled enterprise software and business solutions ease the hardships of IoT implementation. Our elite team of IoT experts and obsessives has a wealth of experience in smart technology. We engage with leading manufacturers to drive their connected-product strategies and steer them to quick market wins. With our secure, single-source platform and rich ecosystem of tools, partnerships, and professional services, our clients gain valuable insight into their products and the people using them. In a connected world, the possibilities are endless. Connect with us.

Imbio – At Imbio, we focus on bringing imaging biomarkers pioneered in the academic research world to clinical practice. We work closely with our academic partners to offer applications based on cutting-edge and rigorous research. We bridge the gap from bench to bedside by refining biomarker algorithms beyond the initial prove-out stage, and working under accredited design controls to create commercial medical software.

Oneome – OneOme’s RightMed pharmacogenomic test helps healthcare providers with timely, evidence-based prescription decisions by combining a patient’s genetic profile and current medications in an interactive report that easily integrates into current practices. OneOme’s RightMed test covers cardiovascular disease, cancer, chronic pain, diabetes, psychiatric conditions, and more. The OneOme platform was co-developed and exclusively licensed from Mayo Clinic to bring pharmacogenomics into routine clinical care.

Flywheel – Flywheel is a data management and analysis platform built specifically for scientists and the researcher’s workflow. We empower research momentum by focusing on data and medical image capture, content management, scientific computation, and collaboration. With reproducible research in mind, we combine open source methods from top universities, a modern web user interface, and an extensible compute engine based on containerization technology. The result is a software platform to accelerate discovery and help researchers do science, not IT.

Tychon Biosciences – Showing promising early results in cancer oncology, CAR-T cell therapy genetically modifies a patient’s T-cells, reactivating and retargeting the immune system to kill tumor cells. As with most early-stage treatments, CAR-T therapy is complex and not without potential side effects—short- and long-term.

Sarisa Therapeutics – Introducing a new class of chemical entities in the war against cancer. Typically, a single molecule is entered into the target to attack cancer cells. Our two-molecule system targets dual pathways, significantly increasing the speed and likelihood of shutting down cancerous cells.

GeneMatters – Our passion is to improve patient access to genetic counseling through a scalable telehealth service. We provide a genetic counseling service with flexible staffing models and clinical expertise, delivered through an online platform that integrates with patient workflow. We partner with hospitals, health networks, clinics, academic centers and genetic labs to build or expand access to genetic counselors. Visit Gene-Matters.com to discover how our service can be tailored for your needs.

Invenshure’s portfolio companies are approaching $100 million in cumulative backing to date — led largely by Exosite’s $38m strategic round in 2015.  Across their portfolio, he estimates over 200 employees with offices in Minneapolis, Cambridge, Mass. & Budapest, Hungary.

“In terms of this new funding round, we aim to build upon that success as we plan for further scale into the future,” Sylvester says of the latest round underway.

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