The road to success is often long and challenging for venture-backed companies. Throw in a macroeconomic environment of high inflation and high interest rates for several years, and our portfolio companies have had to work very creatively to conserve cash, keep growing and position themselves for a future exit.
VeriSIM Life, a Serra III and SBIC portfolio company, has diligently put the pieces in place that have led to a meaningful inflection point and significant funding round. With a term sheet in hand from SPRIM, VeriSIM will soon receive an influx of capital enabling the company to complete first-in-human safety studies for its pulmonary hypertension therapeutic, PT001, while expanding their $80M+ pharma partnership across multiple indications.
Following an informative webinar featuring CEO Jo Varshney, Serra formed a Special Purpose Vehicle to facilitate our Limited Partners’ desire to invest in this critical round. “The response to this opportunity was terrific, exceeding our expectations,” said Tim Hoerr, Managing Partner. “We’re pleased to support Jo and her team as they pursue the clinical trial for PT001 while demonstrating their Full Stack Translational AI platform. The development of VeriSIM’s repeatable, scalable asset-creation engine has the potential to unlock significant downstream value.”
For more information on Special Purpose Vehicles and related opportunities, contact tim@serraventures.com.
