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Venture Capital
searscapital.net

Investments

28

Portfolio Exits

5

Funds

1

About Sears Capital Management

Sears Capital Management, Inc. is a venture investment and portfolio management firm specializing in the life sciences. Since its founding in 1994, Sears Capital Management and its affiliated funds have provided seed capital and early stage financing for life science companies and startups. Sears Capital Management's investment areas are pharmaceuticals and medical devices. In addition, Sears Capital Management manages a portfolio of publicly traded life science company stocks.

Headquarters Location

300 3rd Street

Los Altos, California, 94022-3628,

United States

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Latest Sears Capital Management News

SiteOne Therapeutics Completes $1.5M Initial Round of Equity Financing, Secures $1.4M NIH Grant — SiteOne Therapeutics

May 18, 2023

Company Positioned to Advance Development of Novel Sodium Channel (Naᵥ) Inhibitors Targeting Pain SAN FRANCISCO, Sept. 23, 2014 — SiteOne Therapeutics Inc. today announced the completion of its initial round of equity financing. Led by Sears Capital Management and Biobrit LLC, with additional investors Mission Bay Capital and Joe Zakrzewski, the $1.5 million financing positions SiteOne to advance its oral Naᵥ1.7 inhibitor program for pain and to further develop its technology platform for long-acting local analgesics, pain diagnostics and other pain indications. In conjunction with the financing, Lowell Sears (Sears Capital Management) and Joe Zakrzewski will join SiteOne’s board. Dan Bradbury (BioBrit LLC) and Doug Crawford (Mission Bay Capital) will serve as board observers. “SiteOne’s technology platform has the potential to revolutionize the treatment of acute and chronic pain,” said Sears. “The company’s unique proprietary approach to targeting Naᵥ1.7, combined with an experienced management team, made this a very attractive early-stage investment opportunity.” The company also announced the award of a $1.4 million, two-year, Phase II SBIR grant from the National Institutes of Health in support of SiteOne’s program to develop selective, oral inhibitors of Naᵥ1.7 as therapeutics for acute and chronic pain. “The financing and the NIH grant represent important milestones for SiteOne and are an acknowledgment of the value of our technology platform for optimizing highly selective NaV inhibitors for pain,” said Stan E. Abel, the company’s chief executive officer. “We are excited to have this group of investors and the NIH supporting the company and look forward to further developing our portfolio of therapeutic candidates for treating acute and chronic pain.” SiteOne’s lead program is an oral, Naᵥ1.7 inhibitor for the treatment of moderate to severe pain, representing a potentially safer and more effective treatment option to replace oral opioid analgesics. Because of the growing problems of overuse and abuse of current oral opioid analgesics, there is a significant unmet medical need for an effective non-addictive treatment for pain. Naᵥ1.7 plays a critical role in the generation and conduction of pain signals and represents a potentially transformative approach to treating pain with non-opioid pain therapies. About SiteOne Therapeutics SiteOne Therapeutics, located in San Francisco, was founded with the goal of developing novel pain therapeutics and diagnostics to safely, effectively and efficiently treat acute and chronic pain without the limitations of existing pain therapies, such as NSAIDs or opioids. The company’s therapeutic candidates are highly selective sodium ion channel 1.7 (Naᵥ1.7) inhibitors based on naturally occurring small molecules. Given the critical role Naᵥ1.7 plays in the generation and conduction of pain signals, combined with the urgent need for new, non-opioid pain therapies, SiteOne is focused on advancing its lead product for the treatment of moderate to severe pain. Additional opportunities with the company’s technology include long-acting analgesics, PET imaging diagnostics for pain and other pain indications. SiteOne owns worldwide development and commercialization rights to its development programs through an exclusive license from Stanford University.

Sears Capital Management Investments

28 Investments

Sears Capital Management has made 28 investments. Their latest investment was in SiteOne Inc. as part of their Series B on January 1, 2017.

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Sears Capital Management Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/6/2017

Series B

SiteOne Inc.

$15M

No

1

1/6/2017

Series B

SiteOne Therapeutics

$15M

No

12

7/15/2015

Series A

SiteOne Therapeutics

$1.28M

No

2

7/2/2015

Series A

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$99M

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10

9/23/2014

Seed VC

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$99M

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10

Date

1/6/2017

1/6/2017

7/15/2015

7/2/2015

9/23/2014

Round

Series B

Series B

Series A

Series A

Seed VC

Company

SiteOne Inc.

SiteOne Therapeutics

SiteOne Therapeutics

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Amount

$15M

$15M

$1.28M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

1

12

2

10

10

Sears Capital Management Portfolio Exits

5 Portfolio Exits

Sears Capital Management has 5 portfolio exits. Their latest portfolio exit was Vital Therapies on April 17, 2014.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/17/2014

IPO

$99M

Public

2

3/24/2010

IPO

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$99M

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0

12/23/2009

Acquired

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$99M

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10

4/19/2005

Acquired

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$99M

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10

6/8/2000

IPO

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$99M

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0

Date

4/17/2014

3/24/2010

12/23/2009

4/19/2005

6/8/2000

Exit

IPO

IPO

Acquired

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

2

0

10

10

0

Sears Capital Management Fund History

1 Fund History

Sears Capital Management has 1 fund, including Sears Trust.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/31/1994

Sears Trust

Early-Stage Venture Capital

Closed

$20M

1

Closing Date

5/31/1994

Fund

Sears Trust

Fund Type

Early-Stage Venture Capital

Status

Closed

Amount

$20M

Sources

1

Sears Capital Management Team

1 Team Member

Sears Capital Management has 1 team member, including current Chief Executive Officer, Lowell E. Sears.

Name

Work History

Title

Status

Lowell E. Sears

Chief Executive Officer

Current

Name

Lowell E. Sears

Work History

Title

Chief Executive Officer

Status

Current

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