Healthcare Industry News: St. Francis Medical Technologies
News Release - July 31, 2008
Versant Ventures Announces Closing of $500 Million Venture FundMedical Devices and Biotechnology Continue as Focus of Versant Fund IV
MENLO PARK, CA--(Healthcare Sales & Marketing Network)--Jul 31, 2008 -- Versant Ventures, a leading early-stage healthcare venture capital firm, today announced the closing of Versant Venture Capital IV, L.P., a $500 M fund. The firm now has more than $1.6 B and 75 portfolio companies under management, spanning biotechnology, pharmaceuticals, and medical devices.
"We are proud to continue to partner with visionary entrepreneurs who are building companies that are transforming healthcare. An extraordinary number of unmet clinical needs remain in healthcare, and we look forward to continuing to be a springboard for these meaningful innovations," said Brian Atwood, Managing Director.
Versant IV will target approximately 30-35 medical device, biotech, and pharmaceutical investments throughout the U.S. While the fund's investments will be primarily focused on early-stage and seed opportunities, a limited number may also target later-stage companies as well. "The $500 M fund size will enable us to support a full range of entrepreneurial initiatives -- from a few hundred thousand dollar seed to a $20 M investment over the full life of the company," said Kevin Wasserstein, Managing Director.
Versant IV's Managing Directors include, Brian Atwood, Brad Bolzon, Ph.D., Sam Colella, Ross Jaffe, M.D., Bill Link, Ph.D., Robin Praeger, Beckie Robertson, Camille Samuels, Charles Warden and Kevin Wasserstein. The investment team also includes Kirk Nielsen, Principal, and Sammy Farah, Ph.D., Associate.
About Versant Ventures
Since its formation in 1999, Versant Ventures, a premier early-stage healthcare venture firm, has invested in over 95 healthcare companies that have made important clinical contributions across a breadth of therapeutic areas. Some examples of recent impact companies include: LipoSonix, Inc.; St. Francis Medical Technologies, Inc.; NovaCardia, Inc.; Pharmion Corp.; Eyeonics, Inc.; and a number of now-current public companies including Genomic Health; Insulet Corp.; and Cadence Pharmaceuticals, Inc. Versant's two primary offices are in Menlo Park and Newport Beach, California. For more information, please visit www.versantventures.com.
Source: Versant Ventures
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