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These companies make good things happen through meaningful transformation of ideas from conception to commercialization. They have the passion and commitment it takes to turn entrepreneurial vision into market reality. As a result, people have better lives. We like that. We’re proud of every company in our portfolio and grateful for the opportunity to be part of their story.  

Alexza Pharmaceuticals [NASDAQ: ALXA]

Increasing ease, comfort and convenience for people living with acute and intermittent conditions by enhancing drug effectiveness and minimizing drug invasiveness - that’s what they do at emerging pharmaceutical company Alexza. Cofounded by biotechnology and drug delivery pioneer, Dr. Alejandro Zaffaroni, Alexza is focused on the development and commercialization of new products using the company’s proprietary Staccato™ Technology which vapourizes unformulated drug to form a condensation aerosol that allows for systematic delivery through deep inhalation.  The company's lead indication is for Acute Treatment of Agitation associated with Schizophrenia or Bipolar Disorder.

Argos Therapeutics [NASDAQ: ARGS]

Creating a new generation of personalized cancer and infectious disease therapeutics that target the unique features of a patient’s disease by training the patient’s own immune system to recognize and attack the disease, Argos Therapeutics’ "Arcelis" technology uses RNA-loaded dendritic cells and advanced manufacturing processes provide a platform to tackle virtually all forms of cancers and infectious diseases. Argos has clinical trial programs in cancer and human immunodeficiency virus (HIV).

Aurinia Pharmaceuticals Inc. [VAN: AUP.V]

Aurinia Pharmaceuticals is a clinical stage pharmaceutical company focused on the global nephrology market. Its lead drug, voclosporin, is a novel calcineurin inhibitor being developed for the treatment of Lupus Nephritis (LN). Patients diagnosed with LN are initially prescribed a combination of immunosuppressive drugs and steroids to induce remission of the disease, followed by lower doses of immunosuppressive drugs to maintain remission. Only half of patients respond to induction therapy within the first six months of treatment, and patients that respond to induction therapy show significantly improved long-term survival. As such, a major unmet medical need exits in the treatment of LN, primarily with respect to increasing the proportion of patients that respond to induction therapy.


BAROnova is developing a novel, non-surgical device for the treatment of obesity. Despite strong efficacy, bariatric surgery is pursued by only 1-2% of the eligible obese population,  due to access-to-care issues, the high cost, risk of serious acute and long-term complications, and patient fear of permanently altering their digestive tracts for what they often view as a “temporary” problem. Thus, there is a need to provide this large and growing population of patients with a less invasive, safer, more tolerable and less expensive therapy that can fill the product void between invasive therapy and diet/exercise and drug therapy. 
The BAROnova technology consists of a TransPyloric Shuttle (TPS) device that is inserted into the stomach through the mouth using a simple, 10-minute endoscopic procedure. Once in place, the TPS may cause a patient’s stomach to fill up faster, stay full longer, and potentially delay gastric emptying, which is a known mechanism of action for weight loss.

Cardiac Dimensions

Cardiac Dimensions®, Inc., based in Kirkland, WA, is developing a minimally invasive implantable product to treat mitral valve regurgitation associated with congestive heart failure. This percutaneous approach to annuloplasty is accomplished by implanting a device in the great cardiac vein / coronary sinus via a catheter-based delivery system. The implant is designed to reshape the mitral annulus that surrounds the valve and reduce the mitral regurgitation. Lumira Capital co-led, with Johnson and Johnson Development Corp., the US$35.5MM Series D financing which closed Dec 17, 2007.

DC Devices

DC Devices  is a private medical device company based in Massachusetts developing a catheter-delivered implant for treating diastolic heart failure (DHF). DHF, also known as Heart Failure with preserved Ejection Fraction (HFpEF), is characterized by inadequate myocardial relaxation and diastolic filling of the left ventricle, causing the signs and symptoms of heart failure despite normal ejection fraction. Currently DHF patients can expect to have a 3-year mortality rate of 50% or greater, with no new treatment options on the horizon. Patients are managed through pharmacological treatments (none of which have demonstrated efficacy in randomized clinical trials) and are frequently hospitalized, creating a $40 billion burden to the U.S. healthcare system alone. 
DCD has developed a device to relieve the main cause of DHF symptoms that results in hospitalization - increased left atrial pressure (LAp).


Engene has a novel proprietary method to deliver therapeutic proteins to the gastrointestinal (GI) tract to treat diseases of the GI tract as well as diseases that may be attenuated via the actions of therapeutic proteins at the GI tract. Engene’s method of delivery involves a proprietary nanoparticle system containing DNA plasmids the can be administered via enema (and potentially by the oral route) that creates a biofactory within the gastrointestinal epithelium that delivers the therapeutic protein of interest to the local tissue and circulatory systems adjacent gastrointestinal tract. Delivery of therapeutic proteins via this route has been a goal of many biotechnology companies, none of which have been successful.

Lorus Therapeutics [TOR: LOR.TO]

Lorus is a clinical stage cancer drug development company with a strong commitment to discovering and developing innovative molecular targeted therapies addressing major unmet medical needs. The companies focus is on cellular targets that are emerging on the leading edge of cancer research and not already widely developed. It's pipeline includes Small Molecule products and Immunotherapies that address novel validated cancer targets that spare normal tissue and therefore demonstrate high safety profiles.  

NephroGenex [NASDAQ: NRX]

Working to overcome long standing obstacles for drug development to provide more effective treatments for renal disease, NephroGenex is a biotechnology company developing advanced treatments for kidney disease. The company is acquiring commercial rights to clinical-stage candidates that exhibit activity toward established renal pathology, and determining renal molecular profiles and biomarkers that identify patients that are likely to respond to therapy. The resulting molecular-based patient stratification can dramatically reduce the cost, time and risk of late stage clinical trials and improve the prospects for achieving significant treatment effects. The company is also applying renal molecular profiling to identify and validate novel molecular targets for the leading kidney diseases. The company’s lead product, Pyridorin for the treatment of diabetic nephropathy, has completed several Phase II studies.

Spinal Kinetics

Pioneering a new generation of artificial discs for the treating degenerative disc disease in the cervical and lumbar spine, Spinal Kinetics has developed unique technology designed to replicate the natural vertebral disc in its structure and physiologic range of motion in all planes, including axial compression. This more natural disc design allows for the disc to adjust itself to the anatomy and motion requirements of the spine.

Thrasos Innovation

Thrasos is a private, clinical-stage, biotherapeutics company focused on the discovery and development of targeted therapies for the prevention and treatment of kidney disease. The Company is focused on two key areas of unmet need: acute kidney injury (AKI), for which THR-184 is in clinical development and a preclinical program for chronic kidney disease (CKD). Thrasos’ drug candidates have been shown to protect, repair and restore cell and tissue function in the kidney and other organs.

Vendorlink is a provider of web-based vendor management solutions for Canadian hospitals. Vendorlink’s services and solutions, allow hospitals to enforce and monitor their hospital policies as it relates to third-party vendors (credentialing), while at the same time providing those vendors with the appropriate tools to ensure that they are properly trained and therefore in compliance with hospital protocols with respect to patient safety and privacy.

Alveolus - Exited

With the goal of enhancing the quality of life and reducing long term medical costs for people who suffer from pulmonary or gastrointestinal obstruction, Alveolus products are created by physicians, for physicians. The leading developer of next generation non-vascular interventional stent technology for use in the lungs, Alveolus is also in various stages of development of stents for use in the esophagus, colon, duodenum, pancreas, biliary tract and other ducts. Alveolus was acquired by Merit Medical Systems Inc. in February 2008.

Archemix - Exited

Archemix is a biotechnology company focused on discovering, developing and commercializing aptamer therapeutics, an emerging new class of potential therapeutic agents. In November, 2010 the company agreed to sell all of its hemophilia-related assets to Baxter International Inc. for a deal that could be worth up to $305 million.  Archemix has additional partnerships with several pharmaceutical and biotechnology companies, including GlaxoSmithKline, Merck Serono, Pfizer, Takeda, Eli Lilly and Isis Pharmaceuticals. 

Cardiovascular Systems - Exited [NASDAQ: CSII]

Cardiovascular Systems Inc. (CSI), a medical device company based in St. Paul, Minnesota, develops and commercializes interventional technologies for the treatment of cardiovascular disease. The company’s goal is to provide physicians with safer, more effective tools to help the 8 million to 12 million Americans suffering from peripheral arterial disease (PAD) – blockages in the arteries of the leg – and the potential catastrophic risk of limb amputation.  Lumira completely exited its position in November 2010. 

Ception Therapeutics - Exited

Ception Therapeutics is an emerging pharmaceutical company focused on the discovery and development of novel products to address unmet needs in the areas of inflammatory, infectious and vascular diseases. The company’s pipeline includes a late stage anti-IL-5 monoclonal antibody in clinical development for eosinophilic esophagitis and other eosinophil mediated inflammatory indications. The company’s discovery pipeline includes a small molecule anti-TNF program, an anti-infective program, and a novel anti-thrombotic program.  Lumira Capital invested in Ception in January, 2007.   Cephalon Inc. announced a $100 million upfront deal in January 2009 for the option to purchase all of Ception's oustanding capital stock and excerised its option in March 2010, acquiring Ception for an additonal $250 million plus significant payments for future milstones.

Corus Pharma - Exited

Corus develops generic drugs for novel patentable pulmonary indications - Aztreonam for treatment of cystic fibrosis and Lidocaine for treatment of oral corticosteroid dependant asthma. Lumira Capital fully exited when Corus Pharmaceuticals was acquired by Gilead in August 2006.

Depomed - Exited [NASDAQ: DEPO]

Reducing the side effects of pharmaceutical products without sacrificing efficacy - that’s what they do at Depomed, a specialty pharmaceutical company engaged in the development of pharmaceutical products, based on its Acuformtm oral drug delivery systems. During 2005, the FDA approved two products developed by Depomed, ProQuin XR, a once-daily formulation of the antibiotic drug ciprofl oxacin for uncomplicated urinary tract infections, and Glumetza, a once-daily metformin product for Type II diabetes. Lumira Capital led a PIPE in 2003 and fully exited in 2006.

Guava Technologies - Exited

Guava Technologies develops, manufactures and markets unique, high-impact cellular analysis systems for the life science research marketplace that enable scientists to do more experiments with fewer cells and less time - improving the efficiency and effectiveness of scientific research as well as drug development and discovery in research laboratories around the world. Guava provides highly miniaturized, hands-on, microliter-scaled systems that make commonly used, but important assays in cell-based analysis accessible at the benchtop. Guava's technology has broad applications to life science research, drug discovery, and biopharmaceutical production today, while also offering potential for use in clinical testing, blood processing, and predictive medicine, as well as other areas where single cell analysis is important.  Guava Technologies was acquired for $22.6 million by Millipore Inc. in February, 2009. 

ISTA Pharmaceuticals - Exited [NASDAQ: ISTA]

Helping people to see better, ISTA is a specialty pharmaceutical company that creates therapeutics for diseases and conditions of the eye. Since our PIPE in 2002, the company has successfully launched three products in the United States, creating significant value for shareholders. Lumira Capital fully exited in March 2006.

KAI Pharmaceuticals - Exited

KAI Pharmaceuticals is a drug discovery and development company with a novel clinical-stage program in kidney disease. KAI’s lead product candidate, KAI-4169, is for the treatment of secondary hyperparathyroidism (SHPT) in kidney disease patients.  The company has successfully completed several phase I trials and a Phase 2 clinical trial demonstrating it is highly effective and well tolerated. Lumira exited Kai when it was acquired by Amgen in 2012 for US$315 million.

MAKO Surgical - Exited [NASDAQ: MAKO]

MAKO Surgical Corp. is a medical device company that markets both its RIO Robotic-Arm Interactive Orthopedic system and its proprietary RESTORIS(r) implants for minimally invasive orthopedic knee procedures. The MAKO RIO System (RIO) is a surgeon-interactive tactile surgical platform that incorporates a robotic arm and patient-specific visualization technology and prepares the knee joint for the insertion and alignment of MAKO's resurfacing implants through a minimal incision. The FDA-cleared RIO system allows surgeons to provide a precise, consistently reproducible tissue-sparing, bone resurfacing procedure called MAKOplasty(r) to a large, yet underserved patient-specific population suffering from early to mid-stage osteoarthritic knee disease. MAKO went public in 2008. Lumira exited its position in February 2011.

Morphotek - Exited

Morphotek, Inc. is a biopharmaceutical company focused on the discovery and development of therapeutic monoclonal antibodies (mAbs) for the treatment of cancer, inflammatory and infectious diseases. Morphotek develops these antibodies through the use of its proprietary human antibody technologies, Human MORPHODOMA® and Libradoma™. Two of the company’s mAb programs are currently in clinical trials for the treatment of ovarian and pancreatic cancer with several others in preclinical development. Lumira Capital invested in 2006 and exited through an acquisition by Eisai in April 2007.

Pharmasset - Exited [NASDAQ: VRUS]

Committed to discovering, developing and commercializing novel drugs to treat viral infections, Pharmasset is a clinical-stage pharmaceutical company committed to discovering, developing and commercializing novel drugs to treat viral infections. Pharmasset's primary focus is on the development of oral therapeutics for the treatment of hepatitis C virus (HCV) and human immunodeficiency virus (HIV).  Lumira completely exited its position in 2010.

Renovis - Exited [NASDAQ: RNVS]

Renovis is a public company developing technologies leading to the identification and discovery of novel validated targets and therapeutics for neurological diseases and psychiatric disorders. Lumira Capital exited in 2005 and 2006.

Resonant Medical - Exited

Committed to helping cancer centres advance patient care, Resonant Medical is a leader in the research, development and marketing of 3D ultrasound image-guided radiotherapy products designed to improve treatment planning, verification and delivery. The Clarity™ Platform accurately visualizes and corrects daily changes in tumor position, shape and size – launching a new era of 3D ultrasound (U/S) multimodality radiotherapy treatment planning and image guidance by allowing for better definition of planning tumor volumes more affordably and with or without PET or MRI. Resonant was acquired by Elekta in May of 2010 for $30 million in cash.

U-Systems - Exited

U-Systems, Inc. designs, develops and markets innovative, cost-effective, ultrasound systems to assist the radiologist in detection of breast cancer. The company has built a leadership position in automated breast ultrasound imaging systems and has incorporated proprietary hardware and software technology into its FDA-cleared and CE-marked SomoVu™ Automated Breast Ultrasound System that provides cost-effective ultrasound imaging of the breast with technology that is especially effective for dense-breasted women.  U-systems was sold to GE Healthcare in November 2012.
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