Quantum OPS Completes Financing Round to Advance Surgical Devices

 

Quantum OPS

Quantum OPS, Inc., the orthopedic  technology company for today’s sophisticated operating suite professionals, announced the closing of a $1.05M Series A financing round. The round was led by the Pittsburgh Life Science Greenhouse (PLSG) and the PLSG Accelerator Fund with additional funding from multiple institutional and angel investors.  Invested capital will accelerate sales of Quantum OPS first product, the Quantum Shoulder Positioning System, which enables clinicians to easily immobilize, stabilize, and position patients of all sizes for shoulder surgery. It will also hasten the launch of new products. Quantum OPS current development pipeline includes a surgical arm positioner, an arthroscopic knee positioner, and other positioning accessories. “Today’s orthopedic patients are larger, budgets are smaller, and expectations are higher,” said Keith Harper, CEO of Quantum OPS. “This is an exciting time for Quantum OPS. Our shoulder positioner is just the beginning.  This financing will allow us to plan for and launch another generation of products. This will position us to fulfill more unmet clinical needs for our customers and reward our investors with profitable growth.”

Quantum OPS provides 21st century simple and efficient clinical solutions to meet the rapidly evolving needs of today’s orthopedic surgical suite. Functionality across all patient types, stability, ease, and speed of use are the foundation of Quantum OPS design philosophy. The Quantum Shoulder Positioning System was released to select accounts in January, 2012, and will be available nationwide later this summer. The Positioner features both single-use disposable and re-usable elements.

“Quantum OPS has a superior technology and a team with the vision and ability to deliver on a huge opportunity.  We and our investment partners look forward to the continued growth and success of this promising portfolio company,” said John W. Manzetti, PLSG President & CEO and Founder and Managing Director of the PLSG Accelerator Fund. 

About Quantum OPS                                                                                                                                                                       

Quantum OPS is an orthopedic technology company for today’s sophisticated operating suite professionals. Our products combine ingenuity and 21st century technology designed to deliver superior clinical outcome for patients, surgeons, nurses and anesthesiologists everywhere. We involve the user in every step of the design process from conception to completion to deliverable goods. Quantum OPS prides itself on its exceptional agility and responsiveness to market need. 

About the Pittsburgh Life Sciences Greenhouse (PLSG)

PLSG invests in and supports the growth of biosciences companies in western Pennsylvania. PLSG has a track record of excellence when it comes to attracting and growing life sciences companies in the region. Since its inception in 2002, the PLSG has invested $17.6 million in 66 companies which has leveraged $730 million in additional capital to the region. The PLSG portfolio of companies represents an aggregate market valuation which the PLSG believes it conservatively estimates as over $1 billion. The PLSG has assisted 373 life sciences companies and has helped create or retain nearly 6,000 jobs in western Pennsylvania. In addition, 34 companies or venture capital firms have been provided with office or laboratory space and 13 have been relocated to Pittsburgh from outside of the region. 

About The PLSG Accelerator Fund LLC

 The PLSG Accelerator Fund I, the for-profit venture capital arm of the Pittsburgh Life Sciences Greenhouse,  provides regional life sciences companies with venture capital financing, which is the next step beyond capital provided by economic development organizations; friends and family; and angel investors. As the only pure life sciences venture capital fund in the region, the Accelerator Fund is building a portfolio of early-stage life sciences investments, primarily located in western Pennsylvania and spread across several life sciences sectors including medical devices, diagnostics, therapeutics, healthcare information technology and biotechnology tools.

John W. Manzetti and the Pittsburgh Life Sciences Greenhouse Recognized as 2011 Outstanding Leader in Technology

John W. Manzetti and the Pittsburgh Life Sciences Greenhouse (PLSG) were named the 2011 Outstanding Leadership in Technology category winner at the 2011 Pennsylvania Technology Awards Gala in Harrisburg, Pa., last Friday. The Gala now in its 19th year showcases Pennsylvania’s leading technology and innovations. PLSG was among 120 nominees that were recognized at this year’s event.

“It is an honor to congratulate John and the PLSG team on this distinguished award,” said Peter M. DeComo, Chairman of the Board at PLSG. “Winning the Outstanding Leadership in Technology award recognized the PLSG’s successful efforts to build upon our region’s existing strengths to make western Pennsylvania a worldwide hub for research, clinical care and biosciences entrepreneurs whose companies will be global leaders in the life sciences.”

The PLSG invests in and supports the growth of biosciences companies in southwestern Pennsylvania. The PLSG has investment and business growth programs to increase the linkage between research, technology and commercialization; nurture and develop entrepreneurial biosciences enterprises; grow the region’s talent pool in the life sciences; and help biosciences firms locate, expand or start-up in the Greater Pittsburgh region.

Since its inception in 2001, PLSG has already helped 323 life sciences companies and has helped create or retain more than 5,000 jobs in the region. 34 companies have been provided with office or laboratory space and 13 have been relocated to Pittsburgh from outside of the region. In addition, the PLSG has invested $16.6 M in 61 companies which has leveraged over $600 million in additional capital to the region.

 

Pittsburgh Life Sciences Greenhouse Announces First Close of PLSG Accelerator Fund LLC at $5 Million

The Pittsburgh Life Sciences Greenhouse (PLSG), the organization providing capital investments and customized company formation and business growth programs to the region’s life sciences enterprises, issued this statement through its President and Chief Executive Officer, John W. Manzetti announcing the first close of the PLSG Accelerator Fund, LLC (Accelerator Fund) at $5 million.

The Accelerator Fund is being managed by the PLSG to make venture investments in life sciences companies located in western Pennsylvania. The Fund is targeting total capital commitments of $10 million which will be committed during an investment period of up to five years. It is expected that investments will represent life sciences companies from several sectors including medical devices, diagnostics, therapeutics, healthcare information technology and biotechnology tools. The Accelerator Fund will invest in companies that already have been vetted by the PLSG, through investment due diligence and mentoring from the PLSG’s Executive Program.

“The region needs a life sciences venture investor, and the PLSG Accelerator Fund is the only pure life sciences venture fund in the region,” said John W. Manzetti, PLSG President & CEO. “We have formed this fund as part of our commitment to create long term sustainability for our portfolio companies and  provide needed capital for growing companies while offering fund investors the best opportunity for returns.”

 

The Pittsburgh Life Sciences Greenhouse Announces New Chairman of the Board

The Board of Directors of the Pittsburgh Life Sciences Greenhouse (PLSG), the organization providing capital investments and customized company formation and business growth services to the region’s life sciences enterprises, today announced the approval of the nomination of Peter M. DeComo as the new Chairman of the Board of the PLSG, effective immediately.  DeComo will replace Dr. D. Lansing Taylor who is stepping down after serving 3 years as Chairman and 8 years as a PLSG Board member.

In addition, it was announced that Michael Huff, Acting Secretary of Health, Commonwealth of Pennsylvania,  Austin Burke, Secretary of DCED, Commonwealth of Pennsylvania and Gary G. Glausser, Managing Partner at Corridor Venture Partners and William R. Newlin, Chairman of Newlin Investment Company have been approved as members of the Board of Directors effective January 1, 2011.

John W. Manzetti, PLSG President and CEO remarked, “Pete is an exceptional regional advocate for the development of life sciences innovation, a seasoned entrepreneur and an exemplary leader. We look forward to Pete’s continued dedication to the life sciences and we welcome him as our new board chair.”

As incoming Chairman of the Board DeComo said, “I am honored to work with such a tremendous group of board members and the PLSG team as we continue our work to establish the Pittsburgh region as a dominant player in the life sciences. We will work tirelessly to commercialize and fund life sciences technologies while providing an improved quality of life for the world’s citizens.”

 

The Pittsburgh Life Sciences Greenhouse Announces Additions to Nationally Recognized Executive Program

The Pittsburgh Life Sciences Greenhouse (PLSG), the organization providing capital investments and customized company formation and business growth programs to the region’s life sciences enterprises, announced that three life sciences industry leaders have joined the PLSG’s Executive Program.

Joining the PLSG as Executives in Residence (EIRs) are Maureen Peszko and Michael Lang. Pierre E. Queiroz de Oliveira, Ph.D. has joined the Executive Program as an Executive Associate.

Maureen brings a strong background and senior management experience in the healthcare information technology segment.  Most recently, Ms. Peszko was Senior Vice President, Strategy, Product Development, Government Affairs & Business Development at Sage Health Care. Prior to Sage Health Care, Maureen was Senior Vice President, Strategic Services and US Operations for Thomson Healthcare, a division of Thomson Reuters.  From 1999 to 2007, Maureen served as Vice President & General Manager of Cerner Corporation, the leading US supplier of healthcare information technology solutions that optimize clinical and financial outcomes.

Maureen’s career also includes positions with Deloitte Consulting and McKesson.  Maureen holds a Bachelor of Arts Degree in Economics from Vanderbilt University and attended the Heinz Graduate School for Public Policy at Carnegie Mellon University.

Michael Lang joins the PLSG with 27 years of executive experience in the medical devices industry. He has an extensive background in general management, strategic business development, fundraising, marketing, product development and biomedical engineering.  Most recently he served as the President of Galt Medical; a Dallas, TX based cardiovascular products company.  His prior experience includes Vice President of Business Development at BioEnterprise in Cleveland, OH, Division General Manager at Avery Dennison Medical, Director of Market Development at wound healing company, Gliatech, Director of Product Development at Focal Interventional Therapeutics, Product Manager at Johnson & Johnson, Product Development Engineering Manager at CR Bard and Product Development Engineer at Gore and Associates, Medical Division. Michael holds a Bachelor of Science Degree in Biomedical Engineering from Northern Arizona University and a Master of Business Administration from Arizona State University.

Pierre E. Queiroz de Oliveira, Ph.D. has joined the PLSG as an Executive Associate focusing on the therapeutics segment. His experience is in Pharmacology and Drug Discovery. Pierre was selected as a Fellow in Molecular Pharmacology at the University of Pittsburgh and has received recognition for his outstanding research presentations at the University of Pittsburgh and the University of Bath, United Kingdom.  Pierre holds a Master of Science Degree from the University of Bath and a Ph.D.  in Molecular Pharmacology from the University of Pittsburgh.

“The availability and attraction of domain-specific talent to our regional life sciences community has been paramount to the PLSG’s success,” said John W. Manzetti, PLSG’s President and Chief Executive Officer. “The world-class caliber of our Executive Program and the extensive background of our EIRs continue to build on our national reputation for attracting world-class talent to the region and building great life sciences companies.” Manzetti continues, “By helping them build sustainable business models and secure capital investments, we make it possible for companies to deliver biomedical innovations to the marketplace more quickly and efficiently than they ever could alone.”