Rocket Ventures, through generous support from the Ohio Department of Development’s Third Frontier Program, works to create high-tech, high-wage jobs within Northwest Ohio. Since its inception in 2007, Rocket Ventures has become a recognized resource, providing critical services tailored to the particular needs of new tech-based businesses in the region. Rocket Ventures is taking advantage of identified local strengths to build a more robust entrepreneurial economy in Northwest Ohio.
In 2008, Rocket Ventures began investing in early-stage companies, continuing our regional momentum in developing a knowledge-based economy. The client success stories below illustrate how Rocket Ventures is helping entrepreneurs create great companies and flourishing industries within Northwest Ohio. This page is updated frequently, so check back soon!
Blue Water Satellite
Blue Water Satellite, Inc. founder Dr. Robert K Vincent, a recognized expert in remote sensing technology, knew the company needed dedicated business management and a commercialization strategy, even as he was negotiating a licensing agreement from Bowling Green State University. Dr. Vincent was the creator of a new technology using LandSat digital images. His patented software algorithms analyze the images to identify dangerous cyanobacteria blooms in drinking water reservoirs.
Blue Water Satellite needed to identify a target market and develop a pricing strategy to demonstrate that it was a viable business. In its infant stages, the company had limited financial resources to perform any market research. Rocket Ventures stepped in to help with an Entrepreneur-In-Residence, leverage to accelerate the licensing process, and funding via an Ignite! Development grant. As a result, the Bowling Green, Ohio-based company attracted a permanent management team, performed a market study, and ultimately led to market entry with Beta test sites and the company’s first purchase order. Company information on Blue Water Satellite can be found at http://www.bluewatersatellite.com.
CeutiCare
Dr. Ken Bachmann founded CeutiCare, LLC in November of 2006 to bring to market a revolutionary new concept in medication therapy management. As a retired Distinguished Professor of Pharmacology from the University of Toledo, Dr. Bachmann saw the need to bring patients with chronic conditions like diabetes to their therapeutic goal faster. This system provides proprietary software (algorithms) and pharmacists, employed by CeutiCare, to become an extension of a primary care physician to more effectively determine their patient’s individual selection of drugs and dosing.
After graduating from the Launch program, CeutiCare was referred to Rocket Ventures, who awarded CeutiCare an Ignite! Grant for $50,000, negotiated and placed a CEO, funded the completion of their algorithms, created the standard operating procedures, created their logo, and assisted with collateral materials. Through the combined efforts of the Rocket Ventures staff, CeutiCare secured a $175,000 investment from the Rocket Ventures Fund. Company information about CeutiCare can be found at http://www.ceuticare.biz.
Mithridion
Mithridion, Inc., is a drug development company focusing on serious Central Nervous System disorders, including Alzheimer’s disease. Mithridion, Inc. is a result of the merger of equals in 2008, Cognitive Pharmaceuticals and Mithridion, Inc. Mithridion’s lead drug candidate for Alzheimer’s disease, MCD-386, is currently in Phase I clinical trials, to investigate safety and tolerability. MCD-386 is highly selective for the M1-type muscarinic receptor. This drug is intended to improve memory and cognition, with improved tolerability compared to previously tested M1-selective muscarinic drugs. In preclinical laboratory tests, MCD-386 appears to replace deficient brain acetylcholine activity, similar to that caused by AD, and to improve memory and cognition. In preclinical tests, MCD-386 also appeared to activate alpha-secretase enzymes, which might reduce or prevent the loss of brain cells in AD by preventing the formation of neurotoxic amyloid beta. In preclinical laboratory tests, MCD-386 appeared to be superior to the best first-generation drug candidates of this type.
Rocket Ventures helped to facilitate the merging of Cognitive Pharmaceuticals, Ltd, who had a very strong research background, with Mithridion, Inc, who possessed a strong management background. By capitalizing on their strengths, Rocket Ventures was able to help create the optimal research environment for drug development. Rocket Ventures introduced the Mithridion talent to the Venture Capitalist community by facilitating a meeting between Trevor Twose, Ph.D., president of Mithridion, and Paul Weiss, managing director of Venture Investors. The Rocket Ventures Fund has invested $500,000 in Mithridion, who has since garnered an additional $2.3 million in investment capital in follow-on investment. Company information about Mithridion can be found at http://www.mithridion.com.
ADS Biotechnology, LTD.
ADS Biotechnology LTD is a biomedical company founded in January 2008 to pursue the commercial development of a novel, first-in-class blood volume expander called PEG-Alb. PEG-Alb is a patent-protected, pegylated human serum albumin that promises to become the optimal blood volume expander for the treatment of severe medical or trauma condition that triggers capillary leak syndrome (CLS). After an initial Rocket Ventures $50,000 Ignite! Grant investment, Rocket Ventures provided executive leadership by appointing Rocket Ventures EIR Jon Klotz (hyperlink to his bio) as CEO, secured a patent attorney, market research assessment, located pharmaceutical providers, jointly attended conferences, created collateral materials, provided grant writing assistance, training and due diligence. As a result, of the Rocket Ventures team efforts, ADS is currently waiting on an investment decision from the Rocket Ventures Fund and is in the running to receive a prestigious federal grant. Because ADS’s life saving compound is geared towards a niche group, they do not have a public website. If you would like more information about their company, you may contact any member of the Rocket Ventures staff.
In addition to the above success stories, Rocket Ventures has a robust client portfolio of companies who are on the cusp of greatness. Click here to find out more about the companies we’re working with and how you can be a part of the changing face of Northwest Ohio!
