Venture Fund Targets Data-Driven Health Technologies

Seattle-based Biomatics Capital Partners, a venture capital firm focused on genomics, digital health and data-driven healthcare technologies, has announced the closing of its initial fund of $200 million, in excess of its target of $150 million.

Biomatics focuses on advancing academic research and early-stage health care innovation to commercialization. The firm estimates that it will invest in 15 to 20 companies through this fund, acting as Series A lead investor in a majority of the deals. Initial investments typically range from $5 million to $10 million, with up to $20 million over the life of the investment.

Leading its team are managing directors Boris Nikolic, M.D., and Julie Sunderland, who have invested together in emerging technology, healthcare and life science ventures since 2010. Once they have invested, they take an active role with portfolio companies, supporting startups with hiring, intellectual property, regulatory issues and exit strategy.  

In a prepared statement, Nikolic, who previously served as chief advisor for science and technology to Bill Gates, said the healthcare ecosystem is at a tipping point. "In the next decade, breakthrough science and technology will fundamentally transform the practice of medicine and delivery of healthcare. Data will drive this transformation."

Prior to co-founding Biomatics with Dr. Nikolic in 2016, Sunderland was director of Program Related Investments for the Bill & Melinda Gates Foundation. "By combining the best of science with sound investment practices, we are looking to create extraordinary financial value for our investors and a pathway to better patient outcomes,” she said in a statement.  

Biomatics' current portfolio includes: 

• AiCure (medication adherence powered by artificial intelligence)

• Aledade (data-driven business model for accountable health care) 

• BlackThorn Therapeutics (informatics-driven drug discovery) 

• Blue Talon (enterprise-level data security for health care) 

• Denali Therapeutics (next-gen therapeutics for neurodegenerative diseases)

• GRAIL (genomics-based cancer screening)

• Omniome (low-cost DNA sequencing platform)

• Twist Bioscience (synthetic DNA)