Cleveland, OH (September 18, 2012) – Hopen Life Science Ventures, a Midwest-based venture capital firm, is pleased to announce the addition of Michael Fulton, M.D. as a managing director. Dr. Fulton has over 20 years experience in the life sciences, including 14 years as a successful early-stage investor and entrepreneur. Prior to joining Hopen, he served in the roles of founder, director, and CEO at start-up medical device and services companies, including Lanx, Inc., the second largest private company in the $7 billion spinal implant market. As CEO of Lanx, he built the organization from a single employee, pre-revenue start-up into a rapidly growing international corporation with over 200 employees and a complete portfolio of spinal fusion products.
Dr. Fulton also co-founded, played a key leadership role, and served on the board of directors of ProNerve, LLC, one of the top five companies in the $1.4 billion intraoperative monitoring market. He is an inventor of multiple neurosurgical and spinal devices, with over 50 issued and pending U.S. and international patents. Dr. Fulton received his B.A. from Northwestern University, his M.D. from Cornell University Medical College, and completed two years of neurosurgery residency at the Cleveland Clinic.
“We believe it takes more than just capital to build strong life science start-ups,” said Michael Jandernoa, a managing general partner at Hopen. “The addition of Dr. Fulton will complement Hopen co-founder and managing director Mark Olesnavage and the existing team in Michigan. We are excited to have attracted a successful investor and entrepreneur of Mike’s caliber to launch Hopen’s expansion into Ohio.”
Dr. Fulton is based in Cleveland and leads all activities related to sourcing new investment opportunities for the Fund in the Ohio region. With the Cleveland office officially open, he has already begun meeting with management teams, and other members of Ohio’s entrepreneurial ecosystem.
“I was thrilled to join the accomplished Hopen team and to open our new office in an area with a rich healthcare tradition,” Dr. Fulton commented. “The Cleveland Clinic, Ohio State University, BioEnterprise, University Hospitals, JumpStart, and the extended community of healthcare investors and supporting infrastructure, all made Ohio the logical choice for our expansion. I look forward to working with entrepreneurs in Ohio and throughout the Midwest to bring innovative and cost-effective healthcare solutions to market.”
About Hopen Life Science Ventures
Hopen Life Science Ventures (www.hopenls.com) is a Midwest-based venture capital firm that invests in exceptional early- to mid-stage life science opportunities. With offices in Michigan and Ohio, the Firm is very active in the Midwest, a geographic region steeped in life science innovation, but traditionally underserved with capital. The Hopen team includes investment professionals with extensive prior experience launching and ramping private and public life science companies. Hopen manages over $65 million of capital and is actively making new investments via Hopen Life Science Fund II.
NEWS PROVIDED BY
Nov 10, 2011, 02:44 ET
SHARE THIS ARTICLE
DEARBORN, Mich., Nov. 10, 2011 /PRNewswire/ -- The Accelerate Michigan Innovation Competition (AMIC) has announced that its 2011 "Spirit of Michigan" recipient is Mike Jandernoa, founder of Jandernoa Entrepreneurial Mentoring and former CEO of Perrigo. Jandernoa will be honored during the AMIC's second annual gala awards on Thursday, Nov. 17 at the Henry Ford Museum in Dearborn, Mich.
As CEO, Jandernoa took Perrigo from a $30 million company to a $2.5 billion firm. Most recently he founded Jandernoa Entrepreneurial Mentoring, which is dedicated to bringing mentors and mentees together to help businesses stay on track. He currently is a general partner of Bridge Street Capital Fund 1, LP; a director of Fifth Third Bank – West Michigan, a Michigan banking corporation; and a director of Steelcase, Inc., a manufacturer of case good products and furniture systems for the office furniture industry. Jandernoa also serves on the boards of the Michigan Technology Tri-Corridor (formerly Life Science Corridor), and Business Leaders for Michigan.
"Mike Jandernoa epitomizes the entrepreneurial spirit. He is passionate about and committed to helping entrepreneurs succeed and he has invested his personal time and money to provide the full-circle support they need to grow their businesses," said Doug Rothwell, President & CEO of Business Leaders for Michigan. "Mike has created a mentorship program that has helped numerous entrepreneurs through the challenges of operating in a down economy. He exemplifies everything that the Spirit of Michigan award stands for and is very deserving of this award. It's exciting for the AMIC and the Michigan business and entrepreneurial communities."
The "Spirit of Michigan" award recipient must epitomize the entrepreneurial spirit, have built a business that employs a solid workforce, be a significant contributor to the economic recovery here in Michigan and serve as a mentor within the entrepreneurial community. Last year's recipient was Samuel Valenti, independent chairman of the board of TriMas Corporation.
The Accelerate Michigan Innovation Competition is an international business competition offering more than $1 million in cash awards. Designed to highlight Michigan as a robust and vibrant venue for innovation and business opportunity, the competition fuels innovation-based business growth by uncovering the best and brightest new business concepts from local and global entrepreneurs, exposing those opportunities to potential investment capital and fostering their growth within Michigan. The mission is focused on job creation, increased capital and statewide economic and resource development. The competition is a collaborative effort of the Business Accelerator Network for Southeast Michigan, the New Economy Initiative, Business Leaders for Michigan, the University Research Corridor and the Michigan Economic Development Corporation. These groups have aligned their efforts to bolster and advance Michigan's entrepreneurial ecosystem through a variety of collaborative initiatives, including the Accelerate Michigan Innovation Competition. For more information, visit acceleratemichigan.org.
SOURCE Accelerate Michigan Innovation Competition
Grand Rapids, Mich. (August 4, 2011) – Hopen Life Science Ventures, a Grand Rapids-based life science venture capital fund, announced an initial close of $25 million for its second fund, Hopen Life Science Fund II. The fund will remain open to new limited partners with a target fund size of $50 million expected by January 2012. Hopen Life Science Ventures Managing Director Mark Olesnavage anticipates making 8-12 investments over the course of the fund in drug, medical device, diagnostic, or related technology opportunities. The new fund is the second life science fund managed by Hopen Life Science Ventures; Fund I, launched in 2006, is a closely held life science fund with seven companies in its portfolio.
“Similar in focus to our first fund, Fund II will target early-stage life science companies with remarkable innovations that lead to improved healthcare outcomes and/or reduced healthcare system costs. We primarily focus on companies in the Midwest, pragmatically leveraging the firm’s existing local, regional, national and global life science resource network to support our portfolio companies,” commented Olesnavage.
The Fund II team has already completed four new investments, which Olesnavage calls “the type of market-leading innovators we expect to fill our Fund II portfolio.” They are:
•Metabolic Solutions Development Company (MSDC), a Kalamazoo, Mich.-based developer of novel therapeutics for metabolic diseases based on a novel mitochondrial target; its first two drugs for type 2 diabetes are currently in ongoing phase 2 clinical trials. www.msdrx.com
•NeoChord, based in Minnetonka, Minn., a medical device innovator aimed at mitral valve repair in the heart; its device is in an ongoing clinical trial in Europe. www.neochord.com
Transcorp Spine, a Grand Rapids medical device company providing solutions for compressions of the cervical spine; The Company is in the beginning stages of developing regional commercial sales. www.transcorpspine.com
•Intervention Insights, a bioinformatics platform designing personalized cancer therapies based in Grand Rapids. www.interventioninsights.com
About Hopen Life Science Ventures
Located in Grand Rapids, MI, Hopen Life Science Ventures invests in early- to mid-stage companies that are based on remarkable life science or related healthcare innovation. Hopen Life Science Fund II has been formed to meet the continuing demand for underserved opportunities in the life sciences and healthcare sector with a concentration in the Midwest region. Fund II achieved its first close in January 2011 and has made four investments to date. The Fund will remain open to new Limited Partners until January 2012.
Mark Olesnavage, Hopen Life Science Ventures
Copyright © 2020 Hopen Life Science Ventures - All Rights Reserved