Arboretum Ventures Leads Two New Investments

In February 2010, Arboretum Ventures co-led the Series F financing of Inogen, Inc. with Novo Ventures.  Inogen is a commercial-stage company that sells novel portable oxygen concentrators, designed to provide greater freedom and mobility for patients receiving oxygen to treat Chronic Obstructive Pulmonary Disease (COPD).  There are an estimated two million patients in the U.S. receiving long-term oxygen therapy. The company provides its products directly to the patient and also through the traditional durable medical equipment channel, both domestically and internationally.  Tim Petersen joined the company’s Board of Directors upon closing of the financing.

In May 2010, Arboretum Ventures led the $8 million Series A financing of Delphinus Medical Technologies, Inc., a spin-out from the Detroit-based Karmanos Cancer Institute.  Delphinus has developed an automated whole-breast ultrasound imaging system for breast cancer detection, risk evaluation, and treatment monitoring.  Delphinus will use the funding to complete the commercial product design and file for regulatory clearance.  Paul McCreadie joined the company’s Board of Directors upon closing of the financing.

Arboretum Adds Two Venture Partners

George Dunbar: George joined Arboretum Ventures in 2010 as a Venture Partner.  George utilizes his extensive healthcare operating experience as the former CEO of several venture-backed healthcare companies to evaluate new investment opportunities in the diagnostic, medical device and life sciences tool sectors. George currently serves as a board member of two of Arboretum’s portfolio companies: Accuri Cytometers and CerviLenz.

Prior to joining Arboretum Ventures, George was the President and CEO of Aastrom Biosciences, a publicly-traded, clinical development stage healthcare company based in Ann Arbor.  He is currently serving as its Chairman of the Board.  Prior to Aastrom, George worked with several national venture capital firms, serving as the CEO of a number of early-stage life sciences companies, including Quantum Dot (acquired by Invitrogen) and Epic Therapeutics (acquired by Baxter Healthcare).

Brian Duncan, M.D.:  Brian joined the Arboretum team in 2010 as a Venture Partner in our Cleveland, OH office.  Brian was the Surgical Director for the Pediatric Cardiac Transplant and Heart Failure Center at the Cleveland Clinic and has over 100 published peer review journal articles in the specialty. More recently, he was the Medical Director of Emerging Businesses at the Cleveland Clinic, where he was responsible for medical and technical oversight of the Clinic’s business development and technology commercialization efforts.  Prior to joining the Cleveland Clinic, he was a cardiac surgeon at Children’s Hospital in Seattle and at the Children’s Hospital at Harvard Medical School.  In 2008, Brian received his MBA from the University of Michigan.