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Iora Health Closes $6.3M Share Offering - cbl
Posted October 25, 2011
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Rushika Fernandopulle
By Bill Murphy
CAMBRIDGE, Mass. -- Iora Health Inc., a healthcare system provider, has closed a $6.25 million share offering, raising the amount from nine investors.
Principals named in the filing by the Cambridge-based health-care company are:
· President and CEO Rushika Fernandopulle;
· Executive officer and director Christopher McKown;
· Executive officer Alexander Packard;
· Director Liam Donohue of Boston-based .406 Ventures;
· Director Terry McGuire of Waltham-based Polaris Venture Partners; and
· Director Stephen Knight of Cambridge-based Fidelity Biosciences, a unit of Fidelity Investments.
Fernandopulle, a physician, was previously Managing Director and Chief Medical Officer of the Consumer Health Initiative, and Managing Director of the Clinical Initiatives Center, both divisions of the Advisory Board Company, a membership based research and consulting firm located in Washington DC. He is on the faculty of Harvard Medical International, and has clinical, teaching, and consulting experience in a number of countries including the Dominican Republic, Malaysia, South Africa, Russia, Sri Lanka, and Columbia.
Iora provides specialized payment, staffing, processes and IT systems to health-care companies.
Reg D filing: http://tinyurl.com/3vj9b6w
Bio from Polaris Venture Partners site:
Terry McGuire
Terry McGuire is a co-founder and general partner of Polaris Venture Partners based in the Boston office. Terry focuses on life sciences investments.
Experience:
Prior to starting Polaris, Terry spent seven years at Burr, Egan, Deleage & Co. investing in early stage medical and information technology companies. Terry began his career in venture capital at Golder, Thoma and Cressey in Chicago.
Boards:
Terry has co-founded three companies: Inspire Pharmaceuticals, AIR (Advanced Inhalation Research, Inc.), and MicroCHIPS.
Terry represents Polaris on the boards of directors of Acceleron Pharma, Adimab, Arsenal Medical, Inc., deCODE Genetics, Ironwood Pharmaceuticals, Life Line Screening, MicroCHIPS, Inc., Pulmatrix Inc., SustainX Energy Storage Solutions, and Trevena Inc.
He has also served on the boards of Akamai, Aspect Medical Systems, Cubist Pharmaceuticals, GlycoFi, Transform Pharmaceuticals, and Remon Medical Technologies.
Terry is Chairman Emeritus of the National Venture Capital Association, which represents ninety percent of the venture capitalists in the United States. He served as Chairman from 2009-2010.
He chairs the Board of Overseers of the Thayer School of Engineering, Dartmouth College, and serves on the boards of MIT's David Koch Institute for Integrative Cancer Research, and the Arthur Rock Center for Entrepreneurship, Harvard Business School.
Education:
MBA from Harvard Business School. MS in engineering from The Thayer School at Dartmouth College. BS in physics and economics from Hobart College.
Awards:
Terry is a recipient of the 2009 Massachusetts Society for Medical Research Award, and the 2005 Albert Einstein Award for Outstanding Achievement in the Life Sciences, awarded by Forbes/Gottlieb Medical Technology Investor, Harvard MIT Biomedical Engineering Center, the New Jerusalem Foundation, the Jerusalem Development Authority, and Rodman and Renshaw.
Bio from Fidelity Biosciences site:
Stephen Knight, M.D.
Managing Partner
Stephen C. Knight joined Fidelity Biosciences in 2003 where he serves as President and Managing Partner. Dr. Knight has worked in the pharmaceutical and biotechnology industries for over twenty years. Prior to joining Fidelity, Dr. Knight was president and chief operating officer for EPIX. Before joining EPIX, Dr. Knight worked at Arthur D. Little Inc., specializing in mergers and acquisitions in the pharmaceutical industry and performed research at AT&T Bell Laboratories (now Lucent Technologies), the National Institutes of Health, and Yale University.
Dr. Knight currently serves as Chairman of the Board of Directors for EnVivo Pharmaceuticals and serves on the board of directors of CardioKine Inc., Proteostasis Therapeutics, and Optegra Global Ltd. Dr. Knight previously served on the boards of several private and public health care companies including FoldRx, Ironwood Pharmaceuticals, Respivert, Ltd, and U.S. Genomics. He holds an M.D. from the Yale University School of Medicine, an M.B.A. from the Yale School of Organization and Management and received a B.S. in biology from Columbia University, graduating summa cum laude and Phi Beta Kappa.
Bio from .406 Ventures site:
Liam Donohue
Co-Founder and Managing Director
LinkedIn › Twitter ›
ldonohue@406ventures.com | 617.406.3388 |
Ever since he was a kid, Liam has gravitated towards entrepreneurial settings, founding four successful businesses, including two venture capital funds.
For the last 15 years, Liam has been a venture investor - starting as a Principal at Foster Management, a venture investor focused on service industry investments; then co-founding Arcadia Partners, a fund focused on technology-enabled education companies; and finally, co-founding .406 with Larry and Maria. Over this time, Liam has invested over $75M of capital in 15 investments.
While at Arcadia, Liam founded and took on CEO responsibilities for Business Intelligence Advisors ("BIA"), now a .406 portfolio company. This is where he gained a fine appreciation for the challenges and thrills of building a fast growing start-up company.
Earlier in his career, Liam spent two years as employee #3 in Booz•Allen & Hamilton Philadelphia office before opening and leading their office in Budapest, Hungary. At Booz, Liam specialized in energy and environmental consulting.
Liam currently serves on the boards of .406 portfolio companies BIA, Connotate, EnergyHub, WellAWARE and WoodPellets.com. Liam also sat on the board of Health Dialog (an Arcadia and .406 company) until its sale to BUPA in January 2008.
Liam has a BS in Chemistry from Georgetown University, where he was a John Carroll Scholar, and earned an MBA from Dartmouth's Tuck School of Business.
Liam's Prior Companies Include:
Health Dialog (acquired by BUPA)
AccessWorldwide (IPO 1997)
Pensare (acquired by Duke University)
Knowledge Impact (acquired by mZinga)
Arcadia Partners
Booz Allen & Hamilton
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