Columbus, Ohio based seed-stage venture capital firm Rev1Ventures and not-for-profit freestanding pediatric healthcare system Nationwide Children’s Hospital have teamed up to launch a $5.5m life sciences fund.
Rev1 NCH Fund I – supported by the Ohio Third Frontier Pre-Seed/Seed Plus Fund Capitalization Program, which provided a $2.75m loan to the fund, and Rev1 – will back research-based healthcare spinouts from The Research Institute at Nationwide Children’s by providing access to funds, research facilities, business expertise.
Rev1 and Nationwide Children’s first teamed up in 2014 with an investment by Rev1 in Nationwide Children’s spinout Milo Biotechnology, a company that delivers a new gene-based therapy to treat the muscle atrophy commonly associated with muscular dystrophies.
Milo has just secured additional funding to support its multi-center pivotal clinical trials, which could begin in 2017.
FinSMEs
22/09/2016