EXIT (2007): Merged with AlterG

* Investment Date & Round, Led Series A in 2007 and participated in Series B   and C (Invested $9M)
* Initial Premoney Valuation: ~$4M (Value Ownership ~$20M)
* Acquisition, Merger/IPO, Merged with AlterG in 2013, Goal = IPO
* Exit Value: ~$75M at time of merger
​* Return Multiple: ~3x

This company produces a robotic knee brace that helps people with damaged or artificial knees to stand up and walk by sensing when they need help and assisting them. It also measures over time how much help they need and allows the orthopedic surgeon to see if they are getting stronger over time. Most patients with injured or replaced knees need to use crutches or a walker for weeks before they regain strength in the knee. Tibion’s knee allows them to walk normally, which helps them regain strength, and it measures their improvement.

Tibion spun off from NASA Ames, prioritizing measurement of the patient’s performance and improvement over time to secure reimbursement. AlterG made assistive treadmills that addressed the same healthcare market. The CEO of Tibion at the merger, Charles Remsberg, is now the CEO of AlterG.
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Ted Driscoll served on the Board until Tibion merged with AlterG in 2013.