Breakout Labs, Peter Thiel’s philanthropic fund that supports early-stage companies working on technological innovations, and NetScientific, a global investment group focusing on the health care, and life sciences sectors, announced today a strategic partnership.
Under the terms of the new agreement, NetScientific will invest up to $250,000 in Breakout Labs portfolio companies that fit NetScientific’s investment priorities in advanced medical technologies.
The first Breakout Labs company to receive a NetScientific investment is CytoVale Inc., a developer of a new class of diagnostics which uses biomarkers based on the mechanical features of single cells.
Led by Lindy Fishburne, co-founder and executive director, Breakout Labs is a program of the Thiel Foundation that has supported 16 companies in areas ranging from food science and biomedicine to clean energy. It provides companies with up to $350k, mentorship and networking.
FinSMEs
28/03/2014