CHARLOTTESVILLE, VA—The Virginia Active Angel Network (VANN) has made its second investment this year, $2 million in PluroGen Therapeutics of Charlottesville.
The investment preceded PluoGen’s Series A round of $4 million that is currently underway.
The VANN round included 13 doctors in addition to institutional investors and angel groups.
PluroGen, founded by George Rodeheaver, Ph.D. and Adam Katz, M.D, is commercializing novel antimicrobial therapies for burns and chronic wounds licensed from the University of Virginia.
Its products, which have been successfully used for over 10 years at the University of Virginia Hospital, represent a significant improvement in patient care and product value.
Earlier investment
Earlier this year, VANN closed an investment of more than $200,000 as part of a $1.25 million angel round for Envisionier Medical Technologies of Gaithersburg, MD.
Envisionier is the world leader in palmable endoscopic technologies, and has developed the patented Endogo Portable Endoscopic Camera. This is the world’s first battery operated, portable, hand-held endoscopic video camera with integrated viewing and archiving capability that fits in the palm of a hand.
VAAN has screened over 100 companies and presented 27 investment opportunities at 15 dinners since October 2005 in the Charlottesville, Blacksburg, Roanoke areas of Virginia, with six investments now completed.
VAAN provides a forum to bring already active angel investors, as well as accredited investors wishing to learn about angel investing, together with the area’s many inventors, researchers and entrepreneurs.
It will bring the Ewing Marion Kauffman Foundation’s Power of Angel Investing workshops to the area in late Spring 2007, including “Term Sheet Negotiations” and “Due Diligence.”
VAAN is a professionally-managed, member-participating angel investment club. Its members are accredited investors providing financial and mentor capital to entrepreneurs in the early and seed-stage financing market.
Members invest in opportunities on a deal-by-deal basis with other interested members, with management overseeing and managing the formation of a special purpose LLC investment vehicle for each opportunity, including due diligence, legal and accounting work, and on-going quarterly reporting.
For more information see: www.virginiaactiveangelnetwork.com
Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org
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