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Startup venture capital firm T.Rx Capital announced the closing of its inaugural fund, T.Rx Capital Fund I, at $77.5 million.
In addition to individual investors, Polaris Partners, Lux Capital, Third Rock Ventures and Arch Venture Partners participated in the funding round.
The company's advisory board includes Michael Langer, executive chairman of T.Rx Capital; Third Rock Ventures founder Mark Levin; Freda Lewis-Hall, former chief medical officer and chief patient officer at Pfizer; cofounder and former cochairman of Boston Scientific John Abele; Al Sandrock, CEO of Voyager Therapeutics and former head of research and development at Biogen; and Peter Barton Hunt, former chief counsel of the FDA.
WHAT IT DOES
T.Rx Capital aims to build a portfolio of 10 to 15 companies, providing $5 million to $10 million in funding to each, as well as participate in company creation, scale and governance.
"We launched T.Rx Capital to identify and back the next generation of category-defining healthcare companies," Langer of T.Rx Capital said in a statement.
"As biology and technology converge, we see a historic opportunity to build scalable platforms that can fundamentally reshape disease treatment. We partner early with scientifically rigorous, execution-focused teams and provide the capital, network and strategic support to help them build durable value from day one."
MARKET SNAPSHOT
T.Rx Capital's portfolio includes virtual care company Recuro and patient data company Zus Health.
Recuro is a digital health company focusing on virtual care offerings such as primary care, behavioral health and urgent care, as well as supplemental benefits spanning pharmacy, care management and physician locator.
Patients can participate in virtual visits with primary care and behavioral health practitioners.
Through Recuro's health risk assessment, relevant genetic data can be identified, lab screenings can be done, and tests can be completed from home.
Zus Health's platform, Zus Aggregated Profile (ZAP), is an up-to-date, comprehensive record of a patient's health history, assembled and curated by Zus from various external data networks.
Zus assembles ZAP from patient data, including medical, pharmacy and lab information.
ZAP aims to help care teams get up to speed on the health history of new patients, as well as stay informed as new events occur.
The platform can also be accessed directly by population health analysts and developers to generate insights and optimize care.
