We identify the most promising early-stage laboratory research -- breakthroughs with the potential to have a significant impact on commercial markets. If an emerging technology passes our due diligence, we form a subsidiary company that gives the inventors and their institutions a stake in its success.
Our model for funding innovation is unique. Unlike typical venture-backed startups, our subsidiaries are wholly funded by a single parent company, Allied Minds. Each venture becomes part of our network for sharing expertise and resources.
We staff our subsidiaries with a talented team that knows how to create world-class products. Leading each venture is a seasoned director who manages each stage of the product development cycle, from prototyping and manufacturing to overseeing legal and regulatory issues.
Finally, we build enterprises that bring innovations to market. Once a venture is generating revenue and profits, we enable the next level of success, which could result in a liquidity event such as an IPO or acquisition.
Allied Minds formed Spin Transfer Technologies to develop and commercialize a breakthrough magnetoresistive random access memory (MRAM) computer memory technology. The technology is based on nearly a decade of research at New York University. The university and the key scientist received an equity stake in the new venture.
Spin Transfer Technologies received seed funding in 2007. Four years later it received a $36 million private equity investment raised by Allied Minds and Invesco. The capital goes toward scaling operations, purchasing equipment, and growing its team to accelerate development of its patented orthogonal spin transfer MRAM technology (OST-MRAM).
Spin Transfer's CEO, Barry Hoberman, brings over 30 years of engineering and business experience in the semiconductor industry. His team manages all aspects of the commercialization process including engineering, manufacturing, sales, marketing, and business development.
The technology will be commercially available for license in 2013. Barry and his team are executing a business plan to capitalize on a multi-billion dollar opportunity.
Allied Minds formed RF Biocidics to commercialize a method of using radio frequency waves to disinfect food, water and other products—a safe, low-cost solution for a multi-billion dollar market. The technology is based on a decade of research by a University of California-Davis scientist who receives an equity stake in the startup.
RF Biocidics received seed funding in 2008, and three years later, it is funded by a $10 million private equity investment raised by Allied Minds. The capital goes toward the design of a line of commercial products aimed at foothold markets such as disinfecting massive volumes of almond, cashews and other nuts.
The RF Biocidics team manages the commercialization process while extending the core technology to dozens of additional disinfection applications.
Currently, the RF Biocidics team is building a mass manufacturing capability and scaling up the enterprise. The company has recorded sales in the millions within three years of taking the idea from academic research and now treats various nuts and dried fruits at facilities around the world.
Allied Minds formed SoundCure to commercialize a breakthrough acoustic device for treating tinnitus. This “ringing in the ear” syndrome afflicts about 17% of the adult population and it is the #1 disability affecting military servicemen and women returning from the field. Key researchers at the University of California-Irvine received an equity stake in the new enterprise.
SoundCure raised seed funding in 2009. Eighteen months later, it received a $3 million Series A investment to design and develop a consumer-ready product. The funding takes the novel device through consumer trials and the FDA approval process.
As SoundCure’s managing director, Bill Perry leverages his 20 years of experience leading venture capital-backed medical device companies. His team manages all stages of the go-to-market strategy, including engineering, sales, marketing and business development.
SoundCure launched its tinnitus treatment device in late 2011, and by the end of 2012 expanded its footprint to 37 U.S. states. As sales ramp up, Bill and his team are executing a strategic plan for capitalizing on a multi-billion dollar opportunity.
SoundCure represents the second spinout from the University of California system.