Revolution Portfolio Co. BrainScope Raises $1.6M of $2.5M Offering - CBL
By Citybizlist Staff
WASHINGTON, D.C. -- BrainScope Co. Inc. has raised $1.59 million of a $2.5 million debt offering, according to a Reg D filing with the U.S. Securities and Exchange Commission.
D.C.-based BrainScope, formed in 2006, is a privately held medical neurotechnology company that is developing a new generation of handheld, noninvasive instruments to aid medical professionals in rapidly assessing brain function at the initial point of care.
Investors in the company are D.C.-based Revolution LLC, Alafi Capital Co. LLC in California, and Portage Venture Partners, which manages another investor, Draper Fisher Jurvetson (DFJ) Portage, based in Menlo Park, Calif.
Principals named in the filing are Michael Singer, executive officer and director, and directors Steve Case, Moshe Alafi, Phillip Himelstein, Miles Gilburne, James Peake and Gail Wilensky.
Reg D filing: http://tinyurl.com/y9rco5m
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Bios from BrainScope's Web site:
Michael Singer
Chief Executive Officer
Michael Singer brings more than 20 years of executive leadership, healthcare and financial experience to BrainScope. He most recently was President, Revolution Health Investments, Revolution LLC, where he oversaw the health-related portfolio at Revolution. In particular he managed all external activities (partnerships, M&A, and investments) and assessed all new business opportunities at Revolution Health Group. Among his key achievements, he initiated, negotiated and completed several transactions that together created the Revolution Health Network and was instrumental in the merger of Revolution Health with Waterfront Media.
Prior to Revolution, Mr. Singer was an executive at Microsoft Corporation reporting directly to the Chief Technical Officer. His responsibilities included developing small business and healthcare strategies. Prior to this he was the Chief Financial Officer, Executive Vice President of Corporate Development and a Board member for Data Critical Corporation, a Seattle-based venture-backed wireless healthcare informatics and medical device company. At Data Critical he was responsible for facilitating the company's IPO, overseeing all financial functions, managing acquisitions and partnerships and eventually led the sale of Data Critical to GE.
Prior to his executive appointments, Mr. Singer was a healthcare investment banker and M&A generalist for New York-based Wolfensohn & Co., and San-Francisco-based Montgomery Securities and Alex Brown.
Mr. Singer holds a Ph.D. from the London School of Economics.
Directors
Miles Gilburne
Chairman of the Board of the Directors
An accomplished senior executive, Miles Gilburne has more than twenty-five years of experience in mergers and acquisitions, corporate strategy, venture capital and technology law. From 1994 to 1999, he served as Senior Vice President of Corporate Development of America Online (AOL), where he was responsible for strategic planning and major corporate acquisitions, joint ventures and alliances. He served as a Director of America Online from 1999 until the AOL/Time Warner merger in January 2001 and continued to serve on the board of Time Warner, Inc. until resigning in May 2006. He currently serves on the board of directors of SRA, Inc., a publicly traded provider of technology and services to government markets, Pharmacyclics, Inc., a publicly traded drug discovery company, and several privately held technology and media companies. Prior to joining AOL, Gilburne was a founding partner of The Cole Gilburne Fund, an early stage venture capital fund, and a founding partner of technology and media law firms in San Francisco and Los Angeles. He is currently a managing member of ZG Ventures, LLC, a private investment firm.
Mr. Gilburne holds a Bachelor of Arts degree from Princeton University and a law degree from Harvard University. He serves on the boards of Pharmacyclics, Inc. and Revolution Health Group. He is also a member of the board of directors of the Foundation for the National Institutes of Health. Mr. Gilburne is a co-chairman of ePALS, a Washington, DC-based company that creates and distributes learning programs and services, as well as a suite of collaborative technologies designed for K-12 school and home markets.
Moshe Alafi
Moshe Alafi, has been called one of the founders of biotechnology, as he was one of the first venture capitalists to see the exciting potential in biotechnology. He has been an active investor for over twenty-five years, and was a seed investor in Cetus, Biogen, Applied Biosystems, and Amgen. He has founded over 60 companies throughout his career. Alafi Capital is a private venture capital firm that has been active in healthcare investing in early and mid-stage investments in the U.S. and Europe, with emphasis on product-oriented biotechnology, life science technologies, imaging and diagnostics, and medical devices.
Steve Case
Steve Case launched Revolution, a company that seeks to drive transformative change by shifting power to consumers, in April of 2005. Revolution's mission is to partner with entrepreneurs in building businesses that give people more choice, control and convenience in important areas of their lives. Revolution's current activities are focused on companies in the health, financial, resort, wellness and digital sectors. Prior to starting Revolution, Steve was the Chair and CEO of America Online, Inc., and later, the Chairman of AOL Time Warner. As the co-Founder of AOL, Steve played an integral role in building the world's largest Internet company and helped transform how people communicate, learn and conduct business. AOL brought millions of Americans their first connection to the Internet and drove worldwide adoption of a medium that has become more valuable than the telephone or television. Steve also ensured that AOL led the industry on issues like making the Internet a safe place for children, bridging the "digital divide," and investing in online philanthropy
Steve is currently Chairman of two non-profit organizations, the Case Foundation, a private family foundation he established in 1997 with his wife Jean and Accelerate Brain Cancer Cure (ABC2), an entrepreneurial approach to funding brain cancer research that he founded in 2001 with his late brother Dan. In addition, Steve was a founding organizer of Business Strengthening America and has served as vice chair of the Committee to Encourage Corporate Philanthropy. He was also honored with the National Mentoring Partnership Leadership Award.
Phil Himelstein
Phil Himelstein is a founder and co-managing partner of Hilan Capital, a venture capital firm based in Indianapolis, Indiana and a principal in more than a dozen investment partnerships focused in the real estate, health care and insurance service industries. Prior to founding Hilan Capital in 1998, Mr. Himelstein was founder and chairman of Menu Magic Foods a nutritional products company that was sold in 1996. After receiving his LLB degree from Harvard Law School in 1975, Mr. Himelstein practiced law with the law firm of Cox Castle & Nicholson in Los Angeles until 1992. Mr. Himelstein has been a director of Sage Group, LLC, a privately held investment banking firm that was founded in 2000, since its inception.
James Peake, M.D.
James Peake was United States Secretary of Veterans Affairs from 2007 to 2009. In 2004, he retired from a 42-year United States Army career. He also served as the 40th Surgeon General of the United States Army. Peake received his Bachelor of Science degree from U.S. Military Academy at West Point in 1966 and was commissioned a second lieutenant in the U.S. Army Infantry. He served in Vietnam with the 101st Airborne Division where he was awarded the Silver Star, a Bronze Star with "V" device and the Purple Heart with oak leaf cluster. Following his service in Vietnam, he attended Cornell University's Weill Cornell Medical College, and was awarded a medical doctorate in 1972. He is also a graduate of the United States Army War College, in 1988. He retired from the Army in 2004, as a Lieutenant General.
Dr. Peake served for four years as the United States Army Surgeon General. He also served as commander of several Army medical units. Previous key assignments include Commander, U.S. Army Medical Department Center and School and Installation Commander, Fort Sam Houston, Texas; Deputy Commander, U.S. Army Medical Command, Fort Sam Houston, Texas; Commanding General, Madigan Army Medical Center/Northwest Health Service Support Activity, Tacoma, Washington; Commanding General, 44th Medical Brigade/Corps Surgeon, XVIII Airborne Corps, Fort Bragg, North Carolina; Deputy Director, Professional Services/Chief, Consultant, Office of the Surgeon General, Falls Church, Virginia; Commander, 18th Medical Command and 121st Evacuation Hospital/Command Surgeon, Seoul, Korea; Deputy Commander for Clinical Services, Tripler Army Medical Center, Honolulu, Hawaii; Assistant Chief, Cardiothoracic Surgery, Brooke Army Medical Center, Fort Sam Houston, Texas; Staff General Surgeon/Chief, General Surgery Clinic, DeWitt Army Hospital, Fort Belvoir, Va.; and General Surgery Resident, Brooke Army Medical Center, Fort Sam Houston, Texas.
After retiring from the Army, Dr. Peake served as Executive Vice President and Chief Operating Officer of Project Hope, a non-profit international health foundation operating in more than 30 countries. While at Project HOPE he helped to orchestrate the use of civilian volunteers aboard the Navy Hospital Ship Mercy as it responded to the Tsunami disaster in Indonesia and also as part of the Hurricane Katrina response aboard the Hospital Ship Comfort.
Gail Wilensky, Ph.D
Gail Wilensky is an economist and a senior fellow at Project HOPE, an international health education foundation. She serves as a trustee of the Combined Benefits Fund of the United Mineworkers of America and the National Opinion Research Center, is on the Board of Regents of the Uniformed Services University of the Health Sciences (USUHS) and the Visiting Committee of Harvard Medical and Dental Schools. She recently served as president of the Defense Health Board and chaired their Health care Subcommittee, was a commissioner on the World Health Organization's Commission on the Social Determinants of Health and co-chaired the Dept. of Defense Task Force on the Future of Military Health Care.
She is an elected member of the Institute of Medicine and has served two terms on its governing council. She is a former chair of the board of directors of Academy Health, a former trustee of the American Heart Association and a current or former director of numerous other non-profit organizations. She is also a director on several corporate boards. From 1990-1992, she was Administrator of the Health Care Financing Administration (now known as CMS), directing the Medicare and Medicaid programs. She also served as Deputy Assistant to President (GHW) Bush for Policy Development, advising him on health and welfare issues from 1992-1993.
From 1997-2001, she chaired the Medicare Payment Advisory Commission, which advises Congress on payment and other issues relating to Medicare and previously chaired one of its predecessor commissions, the Physician Payment Review Commission. From 2001 to 2003, she co-chaired the President's Task Force to Improve Health Care Delivery for Our Nation's Veterans and in 2007, served as a Commissioner on the President's Commission on Care for America's Returning Wounded Warriors (Dole/Shalala Commission).
Dr. Wilensky testifies frequently before Congressional committees, serves as an advisor to members of Congress and other elected officials, speaks nationally and internationally before professional, business and consumer groups. She received a bachelor's degree in psychology and a Ph.D. in economics at the University of Michigan and has received several honorary degrees.