CAMBRIDGE, Mass., May 16, 2019 /PRNewswire/ -- Founder of Miraki Innovation and co-founder of Auris Health, Christopher Velis, today announced the launch of his third fund to finance and build the next generation of pioneering medical technology (medtech) companies. The $175 million Medical Technology Breakthrough Fund will support Miraki's mission of pinpointing and solving the world's most pressing health challenges through technology. Adhering to a proven method developed over decades of experience advising and founding companies, the team at Miraki will use capital from the fund to build and support portfolio companies, leveraging existing and new academic and research relationships to develop and commercialize novel, market-leading medtech.
The company's unique and efficient approach to investing creates an exclusive process that has led to the successful creations and exits of more than 16 industry-leading companies. Through this repeatable process, Miraki translates ideas and research out of labs and builds them into flourishing medtech companies. Miraki works with the world's leading institutions to license cutting-edge IP and operates its portfolio companies exclusively in its Cambridge, Massachusetts Venture Development Center. The portfolio companies will benefit from an environment rich with industry-leading experience and tools, and ongoing cost savings resulting from shared resources. The diverse skill set of the Miraki team includes experience in oncology, tissue regeneration, infectious disease, imaging and diagnostics, cardiology, trauma and robotic surgery.
"With global concerns like growing antibiotic resistance that continue to strain healthcare resources, it's more critical than ever that we advance medtech investment to bring more cutting-edge research to patients," said Velis. "Our methodology builds and brings companies to market quickly and efficiently. By taking quantum leaps – not by making incremental improvements – we intend to bring returns to investors, while improving and saving lives."
Miraki's Medical Technology Breakthrough Fund will be the third fund started and managed by Velis. One of Velis' past successes is Auris Health, a surgical robotics company that was acquired by Johnson & Johnson in February 2019 for $5.75 billion (inclusive of milestone payments), the largest venture funded medtech transaction in history.
About Miraki Innovation
Miraki Innovation is a technology investment and development firm that identifies medical breakthroughs that have the potential for global impact and builds those ideas into companies that have substantial investor returns. Miraki Innovation is based in Cambridge, Massachusetts, the U.S. epicenter for medtech research and investment, and can be found online at https://miraki.com/. Nothing in this press release constitutes an offer or solicitation to purchase or sell any securities. Any discussion herein of any past results is not an indicator of future performance.
SOURCE Miraki Innovation