* Investment Date & Round, Led Series and Series A rounds with Lightspeed Ventures (Invested $2.5M)
* Initial Premoney Valuation: $3.3M, (Current Value ~$9M)
* Acquisition, Large grant; customers. Breakeven. No new funding
​needed for 18 mos. (if ever), Acquisition likely
* Exit Value: TBD
​* Return Multiple: TBD

NuMedii uses machine learning and large genetic and pharma  databases to find new applications for drugs. In many cases, the drugs had been approved for other indications but were not as effective as other drugs. Molecular pathways are identified in new conditions and existing drugs are found that block those pathways. In essence, as pharma has become molecular, NuMedii is using big data to better target drugs. The company has access to some of the largest databases of pathways and drug molecular structures. The Founder, Dr. Atul Butte, was on the faculty of Stanford in Bioinformatics. As the Seed round closed, he was invited to the White House to receive a major award from President Obama. He has recently joined UC San Francisco as the Zuckerberg/Chan Distinguished Professor of Bioinformatics and received a $10M research grant. NuMedii has received a large grant from the IPF (Idiopathic Pulmonary Fibrosis) Foundation and is working on identifying new drugs that treat IPF. NuMedii is also working with a half dozen large  pharma companies, helping them find new uses for their shelved drugs. In many cases, the pharma companies had already spent many millions on developing these drugs. If NuMedii can find new uses for them, it would be very valuable to the pharma companies. NuMedii is very close to breakeven based on payments from pharma and grants, and won’t need another dilutive round for at least 18 months, if ever.
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Ted Driscoll continues to serve on the Board after he left his first venture firm.

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