A willingness to be opportunistic was the initial ingredient in bringing RiverVest and Centerre Healthcare together. Centerre was getting started in a nearby office when their business plan landed on RiverVest Managing Director Tom Melzer’s desk. “My first reaction was that we don’t do healthcare services,” says Melzer.
Calypso Medical Technologies, an innovative medical device company, was founded in 1999 to develop novel cancer treatment technologies. Since then, Calypso Medical has been quietly honing their tumor locator technology to create a tool to locate and track tumors “GPS for the Body”.
RiverVest invested $2 million in a $30 million C round for Conforma Therapeutics, a San Diego biotechnology company. RiverVest was one of five new investors in the round led by S.R. One Limited, joining Lilly BioVentures, Novo A/S and RBC Capital Partners, as well as existing investors Domain Associates, Forward Ventures, Inglewood Ventures and ProQuest Investments.
In June, RiverVest Venture Partners participated in a Series C financing round of Velocimed, LLC, investing $3 million. Velocimed is a Minnesota-based developer, manufacturer and marketer of medical devices, whose products will be used in a broad range of interventional cardiology and neurology applications.
Robert A. (Al) Beardsley, Ph.D. was appointed president and chief executive officer (CEO) of Kereos and named to its board of directors in January 2003. Kereos and named to its board of directors in January 2003. Kereos is a St. Louis biotechnology company developing targeted therapeutics and molecular imaging agents.