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Venture Capital
vtcinnovationfund.com

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Investments

5

Portfolio Exits

1

Funds

2

About VTC Innovation

VTC Innovation is a venture capital fund primarily funded by Virginia Tech and Carilion Clinic. The Fund is managed by Middleland Capital with the primary goal of investing in rapidly growing companies to create long term value within the Virginia Tech and Carilion Clinic ecosystem. The Fund invests in early stage life sciences and high growth technology companies.

VTC Innovation Headquarter Location

RAMP Building 709 South Jefferson Street

Roanoke, Virginia, 24016,

United States

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Latest VTC Innovation News

Veralox Therapeutics Closes $16.6M Series A Financing

Jun 16, 2021

Veralox Therapeutics , a Frederick, Md.-based biotechnology company developing first-in-class small molecule therapeutics that treat the underlying pathologies of diseases with significant unmet medical needs, closed a $16.6m Series A financing. The round was led by Hatteras Venture Partners with participation from Genesys Capital, Point Field Partners and Alexandria Venture Investments as well as support from previous investors Sanofi Ventures, JDRF T1D Fund, Maryland Momentum Fund, VTC Innovation Fund and TEDCO. In conjunction with the funding, Ben Scruggs, PhD, principal at Hatteras Venture Partners, and Jamie Stiff, MBA, managing director at Genesys Capital, will join the Veralox Therapeutics board of directors. The company intends to use the funds to advance the development program for its lead product candidate VLX-1005 for the treatment of heparin-induced thrombocytopenia (HIT). Led by Jeffrey W. Strovel, PhD, chief executive officer, Veralox Therapeutics is developing first-in-class therapeutics that target the underlying pathologies of diseases with unmet medical needs based on advanced understanding of the role of 12-lipoxygenase (12-LOX) in the onset and development of many serious diseases and conditions. The company’s lead candidate, VLX-1005, is in development for the treatment of patients with heparin-induced thrombocytopenia (HIT). Second generation therapeutic products are under development for type 1 diabetes and other immune-mediated and inflammatory diseases. In January 2021, Veralox announced that the U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation (ODD) for VLX-1005, a first-in-class small molecule inhibitor of 12-lipoxygenase, for the treatment of HIT. The FDA also approved Veralox’ Investigational New Drug (IND) application for initiation of a Phase 1 clinical trial of VLX-1005 in HIT. FinSMEs 16/06/2021

VTC Innovation Investments

5 Investments

VTC Innovation has made 5 investments. Their latest investment was in Veralox Therapeutics as part of their Series A on June 6, 2021.

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VTC Innovation Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/16/2021

Series A

Veralox Therapeutics

$16.6M

No

11

12/21/2020

Seed VC

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$99M

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10

4/20/2020

Series A

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$99M

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10

5/22/2019

Seed VC

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$99M

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10

12/8/2017

Series B

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$99M

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10

Date

6/16/2021

12/21/2020

4/20/2020

5/22/2019

12/8/2017

Round

Series A

Seed VC

Series A

Seed VC

Series B

Company

Veralox Therapeutics

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Amount

$16.6M

$99M

$99M

$99M

$99M

New?

No

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Co-Investors

Sources

11

10

10

10

10

VTC Innovation Portfolio Exits

1 Portfolio Exit

VTC Innovation has 1 portfolio exit. Their latest portfolio exit was Dive Technologies on February 02, 2022.

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

2/2/2022

Acquired

$99M

4

Date

2/2/2022

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

4

VTC Innovation Fund History

2 Fund Histories

VTC Innovation has 2 funds, including VTC Innovation Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/10/2020

VTC Innovation Fund II

1

VTC Seed Fund

10

Closing Date

6/10/2020

Fund

VTC Innovation Fund II

VTC Seed Fund

Fund Type

Status

Amount

Sources

1

10

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