Battelle Ventures, Apax Partners spin off companies

There are two new spin-offs to announce today. First, Battelle Ventures has spun out regenerative medicine start-up NellOne Therapeutics from the U.S. Department of Energy's Oak Ridge National Laboratory. NellOne gets an initial investment of $1.5 million, which will be tranched based on key technical milestones.

Meanwhile, Sense Proteomic has been spun out as a biomarker discovery company; previously it was a subsidiary of Procognia, which makes bioscience tools. Apax Partners is backing the new company. Sense Proteomic will be using its protein array platform to discover panels of auto-antibody biomarkers in cancer and autoimmune diseases. 

- see the release on NellOne
- here's the announcement on Sense Proteomic

Related Article:
Tips for funding a biotech start-up