SEVENTYSIX CAPITAL PORTFOLIO COMPANY STARTUP HEALTH - IN THE NEWS
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STARTUP HEALTH FESTIVAL - SAN FRANCISCO [external link removed]
The SeventySix Capital team joined our portfolio company StartUp Health in San Francisco for a two-day immersive healthcare festival that coincided with the JP Morgan Healthcare conference.
StartUp Health's CEO Steven Krein and StartUp Health's President Unity Stoakes were the MC's of the sold-out festival. More than 2,000 of the world's most inspiring entrepreneurs, healthcare leaders, scientists, investors, and healthcare transformers participated in the festival.
Dr. Howard Krein, Chief Medical Officer of StartUp Health interviewed Dr. Patrick Soon-Shiong of Nantworks, at the festival and Dr. Krein participated in Dr. Soon-Shiong's press conference when he announced a national coalition to accelerate next generation immunotherapy in cancer named Cancer Moonshot 2020. Thereafter, Dr. Krein accompanied Vice President Joe Biden at his announcement of his Cancer Moonshot at the University of Pennsylvania's Abramson Center and at the World Economic Forum in Davos, Switzerland.
Top healthcare industry leaders shared their insights with the crowd. The list included, Dr. J Craig Venter, the CEO of Human Longevity Inc, Jerry Levin Chairman of StartUp Health, Esther Dyson of EDventure Holdings, Dr. Bob Kocher of Venrock, Thomas Goetz of Iodine, Vinod Khosla of Khosla Ventures, Dr. Dean Ornish, Christina Farr of Fast Company, Dr. Nick Turkal of Aurora Health Care, Meg Fitzgerald of Cardinal Health, Matt McAskin of Evercore Partners, Stephanie Lee of Buzzfeed, Jonathan Bush of Athenahealth and Sue Siegel of GE Ventures.
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STARTUP HEALTH - CANCER MOONSHOT [external link removed]
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Chad Stender, Jon Powell, Independence CEO Dan Hilferty,
Brian Tierney, StartUp Health Chief Medical Officer Dr. Howard Krein,
Brian Lobley, Wayne Kimmel
Wayne Kimmel would be just as invested in getting the cancer "moonshot" off the ground even if he hadn't grown up close friends with Vice President Joe Biden's late son, Beau. But now it's become even more personal to him - and the rest of the Philadelphia Jewish community, which is rallying behind the project.
"I grew up in Delaware, and Beau and Hunter" - Biden's other son - "and I were all friends," said Kimmel, managing partner of SeventySix Capital of Radnor and treasurer of the Jewish Federation of Greater Philadelphia the past seven years. "Joe used to come to our games."
"Vice President Biden's idea of collaboration by smartest researchers in the world is what we need to do. It's not an easy thing to do, but the amazing thing in the wake of Beau's death is how we've rallied together. The program is in its formative stages, but we're excited to get so many involved. I believe this is an issue we can all get behind and support."
As critical as it is, the support can't just come from the Philadelphia area. That's at the heart of the moonshot's projected success. When Biden came to the Abramson Center at the Perelman Center for Advanced Medicine, Jan. 15, he warned how "cancer politics" hampered research and slowed potential breakthroughs.
That won't be an issue here, according to Kimmel. "What I'm most excited about is the fact this effort is collaborative between health insurance companies - like Independence Health Group - and the major pharmaceutical companies," said Kimmel, who serves on the boards of trustees for the Jewish Federations of North America and the Kimmel Center respectively. "The whole thing is a collaborative effort to find the most innovative solution to cure cancer. The Vice President is breaking down all the barriers and we're all coming together to find a cure for cancer."
Biden is in the midst of the World Economic Forum in Davos, Switzerland. He was accompanied to the annual gathering of the planet's most economically influential players by Dr. Howard Krein, chief medical officer of New York-based StartUp Health, who was one of the 10 doctors at the table when Biden spoke at Abramson. Krein also happens to be Biden's son-in-law, having married his daughter, Ashley.
"StartUp Health has all young, innovative brains solving some of health care's top problems," said Kimmel, a board member of Start Up Health. "They're very excited to be part of it, and my company is in the middle of all this."
They're hardly alone, putting their dollars behind their words, just as philanthropists like the Perelmans and Abramsons have done for years. "I think it's going to take billions and billions from the private sector and all the major institutions to cure cancer," predicted Kimmel, whose partner at SeventySix Capital, Jon Powell, is heavily involved in the program as well. "But we have the voices of a lot of entrepreneurs at the table."
Plus, a number of beautiful medical minds. "Fortunately, we have the greatest minds in America and around the world willing to join us and try to solve the problem," added Kimmel, chairman of the developmental committee at Einstein Health Network, which just raised $150 million in celebration of its sesquicentennial. "It's been proven one institution or one government agency can't do it on its own."
By: Jon Marks
Jewish Exponent [external link removed]
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SeventySix Capital [external link removed]
Since 1999, Wayne Kimmel [external link removed] and his team have backed passionate, smart and nice entrepreneurs of startup game-changing companies in the e-commerce, retail and healthcare industries.
Jon Powell [external link removed], CEO of Kravco [external link removed], a leading private real estate developer and property management company that developed The King of Prussia Mall, has joined Kimmel as a Managing Partner of SeventySix Capital.
SeventySix Capital's top exits include:
- SeamlessWeb - acquired by ARAMARK now public as GrubHub (NYSE: GRUB)
- Take Care Health Systems - acquired by Walgreens (NYSE: WAG)
- NutriSystem (NASDAQ: NTRI) - top performing stock in the U.S. for 5 consecutive years.
Intel, IBM and Yahoo! have also acquired SeventySix Capital's portfolio companies.
Some of SeventySix Capital's current portfolio companies include: AdWerx [external link removed], CareCam Health Systems [external link removed], Dwolla [external link removed], Indiegogo [external link removed], ReverbNation [external link removed], StartUp Health [external link removed], and Whistle Sports [external link removed].
SeventySix Capital's partners are extremely active in the entrepreneurial and non-profit communities around the world.
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