Investment group VisionTech Partners said this week it is partnering with life sciences product dev company Pearl Pathways to support Indiana life science startups, including medical device and diagnostic tech businesses.
The alliance will focus on 3 goals, including identifying early stage or early growth companies for investment, connecting entrepreneurs with mentors and providing entrepreneurs access to services to help streamline FDA approvals. The groups will focus on companies with pre-commercialization tech that need access to early stage or seed funding.
“VisionTech Partners is extremely committed to growing Indiana’s life sciences industry and we’ve proven ourselves to be a valuable contributor to this effort as a source of financial and human capital. Of the 24 portfolio companies our angel network has invested in, 10 are in the life sciences and healthcare space; it’s definitely a sweet spot. The alliance with Pearl Pathways will not only ensure a high quality deal flow, it will also help us make better investment decisions. Most of these companies must secure FDA approval in order to commercialize their drug, device or diagnostic tool. Pearl Pathways will, in effect, be VisionTech Partners’ resident expert on all things FDA,” VisionTech Partners exec director Ben Pidgeon said in a prepared statement.
Both companies will “leverage their respective strengths” through the alliance, having formally launched yesterday in Indianapolis, according to a press release.
“VisionTech Partners is unique in the angel investing space. Yes, they are a source of capital, but more importantly, they have deep experience and success in the life sciences industry. They also have a chapter composed entirely of physicians. These are the people who are around medical technology on a daily basis and have knowledge and insight few investors have. Partnering with VisionTech will not only open doors for our clients, startup companies across Indiana will benefit from the combined talents and resources of our two companies,” Pearl Pathways CEO Diana Caldwell said in a press release.