Path of ingenuity
Langer’s entrepreneurial journey has led to more than 30 start-ups over 30 years.
Year founded
Company name
Technology focus
$10 million to
Estimated venture and private equity funding
Major milestones
Current status (2015 figures)
1987
Enzytech
Microsphere drug
delivery
$10 million to
$20 million
Acquired by
Alkermes in 1993
stock deal.
Technology in use.
1987
Opta Food Ingredients
Microspheres for food
applications
$10 million to $20 million
IPO in 1992. Acquired in
2002 for $28 million; now
part of SunOpta.
Technology in use
1988
Neomorphics
Biocompatible materials
$6 million
Acquired by Advanced Tissue
Sciences for $21 million in 1992.
Bankrupt in 2002.
Technology acquired by Smith &
Nephew and in use at regenerative
medicine firm Organogenesis.
1992
Focal
Biodegradable materials for
surgery
$59 million
$25 million IPO in 1997.
Acquired in 2001 by Genzyme
for total of $25 million.
Technology in use
1993
Acusphere
Microsphere imaging agents
$95 million
$53 million IPO in 2003.
Later delisted. Failed to get
product approved.
No longer operating
1993
EnzyMed
Combinatorial biocatalysis
for drug R&D
na
Acquired by Albany
Molecular Research Inc. in
1999 for $21 million.
Technology may be in use.
1997
Advanced Inhalation Research
Pulmonary drug delivery
$2 million
Acquired by Alkermes for $114 million
in 1999. Technology part of 2011
spin-off Civitas Therapeutics.
Civitas acquired by inhaled drug
developer Acorda Therapeutics in
2014.
1998
Reprogenesis
Tissue growth scaffolds
$17 million
Merged in 2000 with
Creative BioMolecules and
Ontogeny to form Curis.
Related programs largely
suspended in 2002.
1998
Sontra Medical
Transdermal drug delivery
$18 million
Merged with Echo Therapeutics
in 2007. Technology licensed to
Ferndale Pharma Group.
Glucose monitoring system in
development. Echo’s stock
delisted in July 2016.
1999
TransForm Pharmaceuticals
Polymorph
crystallization
$45 million
Acquired by Johnson &
Johnson in 2005 for
$230 million.
Technology in use.
1999
Microchips Biotech
Silicon-based drug delivery
$58 million
Private. Four funding
rounds. Equity investment
by Teva Pharmaceutical
Industries in 2015.
In clinical development
partnerships.
2000
Combinent BioMedical Systems
Transvaginal drug delivery
$5 million
Four funding rounds. No longer
operating.
Technology acquired by Juniper
Pharmaceuticals and now in
clinical testing.
2001
Momenta Pharmaceuticals
Complex-sugar-based drugs
$40 million
$35 million IPO in 2004. Two
products approved. Three in
clinical testing.
$90 million in revenues,
net loss.
2003
Pulmatrix
Inhaled therapeutics
$48 million
Three funding rounds.
Merged with Ruthigen in
2015 and went public.
Three products in
clinical trials. $1.1 million
in revenues, net loss.
2004
Pervasis Therapeutics
Therapies for vascular healing
$40 million
Completed Series C funding.
Acquired by Shire for up to
$200 million in 2012.
Development of Vascugel
halted in 2014 a er Phase II.
2005
Arsenal Medical
Nanofiber drug delivery
$47 million
Private. Four funding rounds.
Spun out 480 Biomedical in
2011.
Developing polymer foams
and fiber for tissue therapy
and repair.
2005
InVivo Therapeutics
Scaffolds for spinal cord
therapy
$11 million
One funding round.
Became public in 2010.
Product in clinical testing.
No revenues, net loss.
2006
Semprus BioSciences
Medical device coatings
$26 million
Completed Series B funding.
Acquired by Teleflex in 2012
for $30 million up front.
Issues encountered developing
technology, but Teleflex
expects to file for approval in
catheter application.
2006
T2 Biosystems
Nanoparticle diagnostics,
instruments
$93 million
$60 million IPO in 2014.
Two products launched.
$2.8 million in revenues,
net loss.
2006
Bind Therapeutics
Nanoparticle-based
therapeutics
$73 million
$71 million IPO in 2013.
Bankrupt, assets to be
sold for $40 million. Two
candidates in clinical
testing.
2007
Selecta Biosciences
Targeted nanoparticles
$152 million
Completed Series E
funding. $70 million IPO
in June 2016.
One clinical and two
preclinical candidates.
2008
Taris Biomedical
Urological drug delivery
$52 million
Private. Sold lead clinical-stage
asset to Allergan in 2014 for up
to $588 million.
Relaunched late 2015 with
$32 million investment. Bladder
cancer agent in clinical testing.
2008
Seventh Sense Biosystems
Microneedle blood collection
$33 million
Private. Completed Series B
funding.
Soon to file for marketing
authorization in the U.S. and
Europe.
2009
Kala Pharmaceuticals
Mucosal drug delivery
$114 million
Private. Completed
Series C funding.
One ophthalmic candidate
in clinical testing for three
conditions.
2011
XTuit Pharmaceuticals
Microenvironment-activated
drugs
$26 million
Private. Completed Series A
funding.
Developing lead candidates.
2011
480 Biomedical
Bioresorbable materials for
drug delivery
$45 million
Spin-out of Arsenal Medical.
Completed Series C funding.
Scaffold to treat vascular
disease/injury in clinical
testing.
2011
Moderna Therapeutics
Modified mRNA delivery
$650 million
Private. Four funding rounds.
Created four therapy-focused
companies.
Partnerships with big pharma
and nonprofit organizations
for clinical development.
2012
Blend Therapeutics
Biologic drug conjugates
$84 million
Private. Completed Series C
funding.
Now Tarveda Therapeutics.
Spun off platinum cancer drug
firm Placon Therapeutics in
January 2016.
2013
SQZ Biotech
Cell therapy
engineering
$6 million
Private. Completed
Series A funding.
Signed Roche
partnership worth
up to $500 million.
2015
Olivo Labs
Dermatological biomaterials
Seed funding
Materials based on
technology developed at
Living Proof.
Start-up phase with
materials in in vivo testing.
na = not readily available. Sources: Company information, SEC filings, Crunchbase, Informa Strategic Transactions, CB Insights
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