EXIT (2011):

* Investment Data & Round: Led Series Seed in 2011 (Invested $780K)
* Initial Premoney Valuation: $1M (most recently $40M)
* Acquisition: TBD
* Exit Value: ~$10M (Next Valuation should be ~$100M)
* Return Multiple: ~10x

GigaGen’s mission is to give doctors access to practical and  actionable genetic data for nearly any disease using a routine  blood draw. Important genetic data for disease is locked away in rare cells circulating in blood. GigaGen plans to combine  innovative microfluidic technology to isolate circulating cells in microdroplets, with novel chemistry they call Molecular Linkage in  those microdroplets, to identify rare circulating cells that indicate a  remote disease process. Their Molecular Linkage process is better  than existing methods because it does not rely on antibodies and can detect multiple genetic sequences simultaneously. GigaGen began to specifically define therapies in the past two years and recently raised a $40M Series A round from the pharma company, Grifols. Founded by Dave Johnson, previous co-founder of Natera, GigaGen started out as a diagnostics company, but pharma companies began encouraging Johnson to do more therapeutic work. Claremont did not do therapeutics and was at the end of its fund, so it did not participate in the next round. But the company is now  growing fast and attracting a lot of attention from big therapeutics and pharma companies.

Ted Driscoll served on the Board for the first two years.
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Ted Driscoll sourced this deal and served on the Board for the first  two years.