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Saint Louis University said Tuesday that “one of the biggest investments in research commercialization” in the university’s history has come as result of a San Diego-based startup’s recently announced $30 million Series A funding round.
The preclinical-stage biopharmaceutical startup, BioIntervene, was spun out of research by SLU professor Daniela Salvemini. BioIntervene announced earlier this month that it had closed on the $30 million financing, which was led by Boston-based health care investment firm MPM Capital.
"It is hard to overstate the significance of this investment in BioIntervene. Dr. Salvemini's work on non-addictive treatments for chronic pain has the potential to dramatically curb the deadly effects of our nation's ongoing opioid crisis, and this investment will greatly enhance BioIntervene's ability to pursue this transformative work," said Ken Olliff, vice president for research at SLU. "This investment also shows that as the St. Louis region continues to emerge as a national hub for innovation, Saint Louis University will continue to grow into a major destination for student and faculty entrepreneurs and research discoveries."

Beyond the physical increase, Capital Innovators sees its new office as having the ability to play a key role in building a bridge between Cortex and T-REX. The Downtown neighborhood is one the accelerator expects in upcoming years to become populated with startups that have graduated out of coworking spaces such as Cortex and T-REX.

“We think this is great because there’s going to be a surplus of companies that are taking space in this area,” Dixon said. “We really do think there’s going to be a lot more companies that will start to bridge that divide between Cortex and T-REX, and connect it.”

The new headquarters also comes as Capital Innovators looks to bolster its startup investment beyond seed and accelerator capital. Dixon said Capital Innovators is raising a new fund to provide Series A investments that are expected to range from $500,000 to $1 million. An expanded office will provide a space for Series A portfolio company to operate out of Capital Innovators’ headquarters as well give out of town portfolio firms a place to use when they visit, Dixon said.