Rev1 Catalyst Fund III Brings Together Nationwide Children's Hospital and The Ohio State University to Scale Life Sciences Spinouts
COLUMBUS, Ohio, Sept. 19, 2023 /PRNewswire-PRWeb/ -- Today, Rev1 Ventures, the venture studio that helps entrepreneurs and corporations accelerate innovation, Nationwide Children's Hospital, and The Ohio State University announce expanded support for life sciences companies with the launch of Rev1 Catalyst Fund III, a $30 million fund that delivers capital and strategic services for pre-seed, seed stage and early-stage healthcare innovators.
Following the success of Rev1 Catalyst Fund II, Rev1 NCH Fund, and Rev1 Catalyst Fund, this fund will remain focused on core research-based themes, including gene and cell therapy, neuroscience, biofilms, ocular health, cardiovascular health, and other therapeutics technologies.
"Building on our collective experience, and proven track record supporting life sciences companies, Rev1 Catalyst Fund III represents another unique opportunity to help commercialize breakthrough technologies and transform many critical aspects of health care," said Tom Walker, President and CEO of Rev1 Ventures. "Between Rev1, Ohio State, and Nationwide Children's Hospital, our team has led nearly 100 spinouts from over 20 research institutions and corporations and brings the expertise and financing to help life sciences companies build the right team and infrastructure that allows them to scale and grow."
To date, Rev1 Catalyst Fund II has invested more than $10 million since launching in 2019, investing in eight unique companies across 16 financial rounds that have raised over $100 million in co-investment and follow-on investment. Rev1 Catalyst Fund and Rev1 NCH Fund have generated more than $450 million in exits, including the acquisitions of Celenex, Myonexus, and Deep Lens.
"Ohio State values the collaborative approach to accelerate innovation and support life science innovators in our community," said Peter Mohler, Acting President and Executive Vice President for Research, Innovation and Knowledge at Ohio State. "This fund will support groundbreaking advancements and help build successful companies that are working to positively impact people's lives."
"Clarametyx, a Nationwide Children's spin-off and biotechnology company developing groundbreaking therapies and vaccines for life-threatening bacterial infections, is making important strides thanks, in part, to capital raised from Rev1 Catalyst Fund II, and we are already seeing the impact of fueling innovations like this in the market," said Tim Robinson, Chief Executive Officer at Nationwide Children's Hospital. "By bringing together research institutions, investors, and strategic advisors, we're elevating Central Ohio's position in the industry and helping to bring more life-saving solutions to the world."
Rev1 Catalyst Fund III will invest in nearly a dozen companies over the next five years, with plans to support follow-on funding for successful predecessor fund portfolio company rounds. For more information about the fund and Rev1 Ventures, visit https://www.rev1ventures.com/our-companies/.
About Rev1 Ventures
Rev1 Ventures accelerates innovation with connections and capital that help entrepreneurs build high-growth tech companies in software, healthcare, and more. Its venture studio platform serves entrepreneurs at their earliest stages while aligning with corporate and research partners to validate customers, build teams, and access funding. Rev1 is changing the equation for startup success and putting Central Ohio on the map as one of the fastest-growing innovation ecosystems in the country. For more information, visit http://www.rev1ventures.com.
About The Ohio State University
The Ohio State University is a top-ranked flagship public research university with a nationally recognized academic medical center. The university offers more than 200 majors — plus 500 specializations— for undergraduates to explore, along with 230 master's, doctoral and professional degree programs. Across all campuses, Ohio State enrolls nearly 68,000 students in 15 colleges and supports more than 300 academic and interdisciplinary research centers and institutes. With a dynamic and engaged group of more than 580,000 living alumni and extensive partnerships locally and globally, Ohio State has an unparalleled capacity to bring people together and provide expertise and resources to create solutions to the problems the world is facing now.
About Nationwide Children's Hospital
Named to the Top 10 Honor Roll on U.S. News & World Report's 2023-24 list of "Best Children's Hospitals," Nationwide Children's Hospital is one of America's largest not-for-profit free-standing pediatric health care systems providing unique expertise in pediatric population health, behavioral health, genomics and health equity as the next frontiers in pediatric medicine, leading to best outcomes for the health of the whole child. Integrated clinical and research programs, as well as prioritizing quality and safety, are part of what allows Nationwide Children's to advance its unique model of care. Nationwide Children's has a staff of more than 14,000 that provides state-of-the-art wellness, preventive and rehabilitative care and diagnostic treatment during more than 1.7 million patient visits annually. As home to the Department of Pediatrics of The Ohio State University College of Medicine, Nationwide Children's physicians train the next generation of pediatricians and pediatric specialists. The Abigail Wexner Research Institute at Nationwide Children's Hospital is one of the Top 10 National Institutes of Health-funded free-standing pediatric research facilities. More information is available at NationwideChildrens.org.
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SOURCE Rev1 Ventures
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