Boulder Ventures and Highpoint Ventures co-led additional Series A funding worth $2 million for ClinOne, a Needham, Mass.-based startup facilitating clinical trials, with offices in Philadelphia. In April, Boulder Ventures, which was founded in Baltimore, had led a $3 million round for ClinOne, which has raised $10.5 million from investors since its founding in 2017.
Founded in the 1980s by Baltimore lawyers Larry Macks and Josh Fidler, Boulder Ventures last year closed a $58 million fund, the eighth in its history. The fund is based in Boulder, Colo., with a Mid-Atlantic office in Chevy Chase, Md. So far, the venture firm has raised nearly $400 million from investors. Its recent portfolio investments include PlayMetrics, Join Silicon, Mineralys Therapeutics, PeopleReign and DMC Biotechnologies.
Macks and Fidler now run Chesapeake Realty Partners, based in Owings Mills, Md. Macks serves as chairman and CEO, while Fidler, who previously worked at a New York law firm, is co-chairman and chief operating officer. Macks is a member of the Maryland Bar.
Enabler of Clinical Trials
ClinOne is led by Andrea Valente, a former Oracle executive who once led the Tony Blair Institute for Global Change in Africa. Previously, she was chief operating officer at Medable. The company was founded by Eric Schraufnagel and Hungarian-born Rob Bohacs. Schraufnagel has over a decade’s experience in clinical research. Bohacs , who was named to 2021’s PharmaVOICE 100 most inspiring people in the global life sciences industry, serves as chief solutions officer.
The company has built an integrated platform that offers comprehensive support for clinical trials, together with data insights tools. ClinOne provides support at sites of clinical trials, and assists participants and caregivers throughout the clinical trial journey. More than 80 sponsors, contract research organizations, and site networks in 60 countries use ClinOne’s services for clinical trials.
Together with the funding, ClinOne announced the appointment of two board members — Katherine Vandebelt, global vice president of Clinical Innovation at Oracle Life Sciences and former Eli Lilly executive; and JeanMarie Markham, a registered nurse who founded and ran the clinical research firm Clinlogix.
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Venture Investing Veteran
Kyle Lefkoff, who has been investing in startups since 1985, heads Boulder Ventures. He is also the co-founder of Array BioPharma, which was acquired by Pfizer for $11.8 billion in 2019. With over 60 portfolio investments from 11 venture funds, and experience of “guiding hundreds of clients in the mountains of Colorado, Canada, and Europe over the past 40 years,” Lefkoff believes that “being a mountain guide and being a venture capitalist is the same thing.”
Of his investments, 12 have led to initial public offerings and 15 to acquisitions. His portfolio investments include Hauser Chemical Research (Nasdaq: HAUS), NeXstar Pharmaceuticals (sold to Gilead Sciences), Compatible Systems Corp. (sold to Cisco Systems), Wall Street on Demand (sold to Goldman Sachs), Horizon Organic Dairy (sold to Dean Foods), and Fresh & Wild (sold to Whole Foods).
Lefkoff, who has in the past served as chairman of the Venture Capital Association of Colorado, was an adjunct professor of finance at the University of Colorado Leeds School of Business. He received his B.A. in Economics from Vassar College (summa cum laude) in 1981 and an MBA in Finance from the University of Chicago. Lefkoff was a member of the 1986 American Expedition to the North Face of K2, and is a lifetime member and past director of the American Mountain Guides Association.
