VitalTrax First Company to Receive Seed Capital from Digital Health Funding Initiative

Funding Supports High-Quality Business Model, Innovative Technology, And Strong Vision From Management Team

Philadelphia, PA, March 22, 2017 — Ben Franklin Technology Partners of Southeastern Pennsylvania (“Ben Franklin”); Independence Health Group (“IHG”), the parent company of Independence Blue Cross; and Safeguard Scientifics, Inc. (“Safeguard”) (NYSE:SFE) today announced that VitalTrax received $150,000 in seed financing – the first company to receive funds from the group’s $6 million digital health funding initiative, which was announced in December 2016.

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Safeguard Scientifics News: Velano Vascular raises $17 million for a needle-free blood draw device

Submitted by Safegaurd Scientifics

Blood drawing and testing may have been tainted by the Theranos scandal last year, but that hasn’t kept investors from backing Velano Vascular. The San Francisco-based startup, which has developed a needle-free device to draw blood, today announced a new investment of $17 million. This technology could reduce the risks of injuries for patients who  suffer from difficult venous access due to weight, chronic disease, and other issues.

Velano Vascular’s product is called PIVO — a single-use, needle-free device that can be inserted through an existing (intravenous) IV catheter.

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COSY just raised $2.35 million – Safeguard Scientifics News

Written by Roberto Torres of Technical.ly Philly

And proved Pennovation’s concept. Intel and San Francisco-based GreatPoint ventures led the round, with participation from Ben Franklin and Safeguard Scientifics.

Pennovation-based robotics startup COSY just raised a $2.35 million seed round by Intel and San Francisco-based venture firm GreatPoint Ventures, with participation from Safeguard Scientifics and Ben Franklin Technology Partners.

COSY CEO Jonas Cleveland dropped the bombshell at last night’s When Innovation Meets Capital event, hosted by Safeguard and the Penn Center for Innovation. Cleveland, who led the company’s spinout from Penn’s GRASP lab, praised the Penn ecosystem and Philadelphia’s talent pool for their role in the capital raise.

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Outside of the Valley, Alternative Markets Attract Investors – Safeguard Scientifics

Nearly 60 percent of all U.S. venture capital activity is concentrated in the Bay Area, Boston metro, and New York City’s orbit.[1]

For some entrepreneurs, this is seen as an obstacle. Groundbreaking ideas can be marginalized if they are not located in one of these “preferred” regions. But investors are beginning to take a harder look at alternative markets, those with access to affordable talent and prospective customers.

While Silicon Valley can be an extremely competitive place to get a deal done, overlooked states such as Wisconsin, Minnesota and Pennsylvania, to name a few, are home to innovative companies with highly skilled entrepreneurs.

This paradigm shift has been building for years, with technology breaking down logistical barriers to doing business. Employees, investors, and customers alike can be in different time zones while still seamlessly communicating.

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Postmarket Management of Cybersecurity in Medical Devices

Shared by Safeguard Scientifics’ Blog

Over the last 18 months, an alarming number of medical device companies’ challenges with data security have been exposed.

In 2015, Hospira’s LifeCare PCA3 and PCA5 devices were found to have security vulnerabilities that prompted a recall. In 2016, St. Jude’s [email protected]™ remote cardiac monitoring devices were found to require security updates after research firm MedSec found dangerous snags that could possibly lead to patient harm. While these security issues were discussed publicly in the press, one can only imagine the conversations behind the scenes at other medical device vendors around the country.

This increased concern about cybersecurity for medical devices prompted the Food and Drug Administration (“FDA”) to release a guidance document entitled “Postmarket Management of Cybersecurity in Medical Devices”. While some device vendors have assumed that the “guidance” nature of this document makes its recommendations optional, the FDA has taken the position that device manufacturers are required to ensure the safety and efficacy of medical devices in the face of this evolving cybersecurity landscape. Therefore, if a vendor is choosing not to follow this guidance, it must have another cybersecurity strategy with similar efficacy in order to avoid regulatory scrutiny.

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Is IoT the Next App Store?

Shared from the Safeguard Scientifics’ Blog

This post originally appeared on CIOReview.com, January 11th, 2017.

It is hard to think about the current wave of digital innovation and empowered end-users without thinking about apps. Despite the app store concept in its current form really taking root in 2008 with the launch of Apple’s App Store for iOS, we have been app crazy as a society, with over 4 million unique apps downloaded over 200 billion times by users around the world.

And while the reinvention of the smartphone by Apple and Google fundamentally changed our digital user experience, it also did something even more powerful by democratizing innovation. It enabled anyone with a good idea to push it out as easily accessible software to be downloaded by smartphone users around the world. This continues to level the playing field in major industries everywhere, upending entrenched businesses in transportation, retail, banking, and even healthcare.

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Tongue Tied: Speaking Candidly About Capital

Shared from the Safeguard Scientifics’ Blog

I cringe when I read a headline that says a startup “pulled in”, “landed” or even “scooped ” new funding. Or better yet, when a venture capital firm is described as having “placed a bet”, “made a bet” or “cut a check” for a startup.

These various accounts of winning money and placing bets are oftentimes used by reporters and news outlets to drive readers to click on their headlines. But they couldn’t be more askew.

This is not just one man’s point of view. Rather it’s constructive criticism shared amongst venture capitalists and other companies similar to ours. Whether I’m browsing The Wall Street Journal Venture Capital Dispatch in the morning or diving into Nick Frost’s curated dispatches in the evening, I’m oftentimes baffled by language used to characterize what we do on a daily basis.

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Early Stage Digital Health Companies In Philadelphia Get Boost With $6 Million Funding Initiative

Ben Franklin Technology Partners of Southeastern Pennsylvania, Independence Health Group and Safeguard Scientifics team up to foster healthcare IT innovation

PHILADELPHIA, Dec. 8, 2016 /PRNewswire/ — Partnering to fuel Philadelphia’s innovative digital health ecosystem, Ben Franklin Technology Partners of Southeastern Pennsylvania (“Ben Franklin“); Independence Health Group (“IHG”), the parent company of Independence Blue Cross; and Safeguard Scientifics (“Safeguard”) (NYSE: SFE) today announced their intentions for a $6 million funding initiative over a four year period to grow technology-driven, early-stage healthcare startups.

Responding to a burgeoning economic vitality in digital health, Ben Franklin, IHG through a subsidiary, and Safeguard each intend to pledge $2 million to launch the funding initiative and will identify, vet, and allocate funds to augment the Philadelphia region’s continued growth and development in digital health. In addition, each will source new opportunities, extend guidance and support to the emerging seed-stage companies as they grow, and maximize the impact of the capital committed to the companies and their communities. Startup companies will receive funds based upon the quality of their business model, the technology’s viability, and a strong vision from the management team. Ben Franklin will lead the due diligence process and day-to-day fund management on potential opportunities.

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Time Capsule: Celebrating 30 Years of TV Shopping

Supporting Innovation and Entrepreneurship for more than 60 years

Welcome to Safeguard Scientifics’ Blog, where we share Perspective, Strategy and Insight.

In the 1980s, before mobile commerce and e-commerce existed, the most innovative and convenient way to reach consumers was by leveraging the most important medium at that time—television. In addition to providing a convenient, educational and entertaining shopping mode for consumers, cable marketing provided a cost effective way for small and large suppliers to quickly gain visibility and market test new products.

This week we open Safeguard’s time capsule to reflect upon one of our storied successes, QVC, which thirty years ago today aired its first television broadcast selling the Windsor Shower Companion, a waterproof AM/FM radio.

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Safeguard Scientifics leads $10M Series B Financing for T-REX to Enhance Liquidity in Structured Product Markets

T-REX Raises $10M Series B Financing to Enhance Liquidity in Structured Product Markets

Platform leverages SaaS analytics and marketplace to increase customer revenue, decrease costs, and mitigate regulatory risk and compliance issues

New York, NY, November 17, 2016 — T-REX Group, Inc. (“T-REX”), a financial services technology company, today announced a $10 million Series B financing. The round was led by Safeguard Scientifics (NYSE:SFE) with $6 million, with participation from existing investor Ecosystem Integrity Fund (EIF). Approximately $3 million of the round has been earmarked for strategic investors. Proceeds will be used to expand product capabilities and scale T-REX’s client development team.

Founded in 2012 and headquartered in New York City, T-REX’s secure, enterprise SaaS-based analytics, risk, and portfolio management platform standardizes and provides transparency to the complex structured products evaluation process, increasing liquidity and creating significant investment opportunities for the hundreds of billions of dollars of capital across various esoteric, non-commoditized asset classes.

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