Innovation Works

For more than 20 years, Innovation Works has played a vital role in Southwestern PA's technology economy, investing capital, business expertise, and other resources into high-potential companies with the greatest likelihood for regional economic impact. IW is the single largest investor in seed-stage companies in the region. They also provide resources for manufacturers to adopt new technologies.

Sophie Burkholder

Investment Associate

Gary Glausser

Chief Investment Officer

Steven Welles

Managing Director of Software

Past deals in Health Diagnostics

Revitalize

Seed Round in 2024
Revitalize Energy is a consumer-focused company that specializes in eye drops aimed at alleviating fatigue caused by prolonged screen use. The product features a patented blend of stimulants and amino acids that provides immediate energy and relief from digital eye strain. With just 1-2 drops in each eye, users experience a refreshing effect that helps combat tiredness and enhances comfort, making it an ideal solution for those frequently engaged with digital devices.

Plexision

Seed Round in 2024
Plexision develops cellular biomarkers for personalized diagnosis and drug development in solid organ transplantation, and immunological disorders. Plexision's first patented product, the PleximmuneTM assay, predicts the risk of transplant rejection. The test is based on patent-pending technology to measure antigen-specific white blood cells. Testing services for transplant recipients and drug developers are provided at Plexision’s CLIA-certified, central laboratory in Pittsburgh. Plexision currently offers cell-based testing for personalized assessment of rejection risk after solid organ transplantation The Pleximmune blood test is the first such test offered for children with liver or intestine transplantation.

SignatureDx

Seed Round in 2024
SignatureDx predicts and treats human disease through noninvasive diagnostic testing.

Ilant Health

Pre Seed Round in 2023
Ilant Health specializes in obesity management and cardiometabolic healthcare services. The company focuses on delivering treatment for obesity and weight management, utilizing advanced analytics powered by unstructured machine learning. This technology generates significant insights that aim to lower overall healthcare costs and enhance return on investment for obesity treatments. By offering effective solutions for weight loss, Ilant Health enables clients to achieve better health outcomes while simultaneously reducing expenses and accessing health plans through value-based care.

D.Sole

Pre Seed Round in 2023
D.Sole specializes in the development of advanced foot insoles aimed at improving remote patient monitoring in podiatry, specifically for diabetic patients. These innovative, AI-powered insoles utilize multimodal sensors to detect early signs of complications, such as ulcers and nerve damage. By providing comprehensive physiological data, D.Sole enables clinicians to gain evidence-based insights for more effective foot treatments. The company's solution is notably more cost-effective than existing market options, detecting multiple foot complications compared to competitors that typically identify only one. This technology has the potential to significantly reduce healthcare costs, potentially saving hospitals over $100 million annually by decreasing readmission rates for foot complications, while private insurers could save more than $1 billion by minimizing expenses related to amputations and wound care.

Circadiance

Convertible Note in 2023
Circadiance LLC specializes in the development, manufacture, and marketing of respiratory products aimed at individuals with sleep-disordered breathing and those requiring non-invasive ventilation. Based in Turtle Creek, Pennsylvania, the company offers a range of innovative solutions, including the SleepWeaver all-cloth positive airway pressure masks, which provide comfort during sleep, and the SmartMonitor 2, a portable apnea monitor designed for infants that tracks heart and respiration activity. Additionally, the SmartMonitor 2 Professional Series delivers detailed heart rate, respiration, and oxygen saturation data for healthcare professionals. Circadiance also produces NeoPAP, a treatment system for newborns with respiratory distress syndrome, and SmartTrace electrodes for neonatal and pediatric use. The company's products are distributed through durable medical equipment providers and online retailers in the United States, as well as a network of international distributors, catering to a wide range of patients from premature infants to the elderly. Founded in 2006, Circadiance is committed to enhancing patient care and outcomes in both acute and home care settings.

Revitalize

Seed Round in 2022
Revitalize Energy is a consumer-focused company that specializes in eye drops aimed at alleviating fatigue caused by prolonged screen use. The product features a patented blend of stimulants and amino acids that provides immediate energy and relief from digital eye strain. With just 1-2 drops in each eye, users experience a refreshing effect that helps combat tiredness and enhances comfort, making it an ideal solution for those frequently engaged with digital devices.

InnSight Technology

Pre Seed Round in 2022
InnSight Technology is a biotechnology company focused on enhancing diagnostics and evaluation of eye diseases. The company develops innovative ophthalmic devices, including a novel hand-held biosensor designed for the detection of anterior ophthalmic injuries. Additionally, InnSight Technology works on advanced nanotechnology-based medical devices aimed at addressing specific clinical needs in ophthalmology. By providing these tools, the company seeks to improve ocular care for clinicians and their patients.

MindTrace

Seed Round in 2022
MindTrace is a medical software company focused on enhancing neurosurgical procedures through the development of personalized 3D brain maps. By integrating advanced brain imaging with machine learning algorithms, the company creates simulations of surgical resection plans that allow neurosurgeons to predict patients' cognitive outcomes prior to surgery. This innovative approach enables surgeons to optimize the removal of brain tumors while minimizing damage to surrounding healthy tissue. Additionally, MindTrace's platform streamlines the process of analyzing brain imaging and behavioral data, reducing the time and effort required by medical teams. The company is supported by the Creative Destruction Lab, reflecting its commitment to advancing neurosurgical care.

Revitalize

Seed Round in 2022
Revitalize Energy is a consumer-focused company that specializes in eye drops aimed at alleviating fatigue caused by prolonged screen use. The product features a patented blend of stimulants and amino acids that provides immediate energy and relief from digital eye strain. With just 1-2 drops in each eye, users experience a refreshing effect that helps combat tiredness and enhances comfort, making it an ideal solution for those frequently engaged with digital devices.

Hava Health

Seed Round in 2021
Hava Health, Inc. is a biotechnology company based in the United States that specializes in developing innovative solutions for nicotine addiction. The company manufactures a smoking cessation device that includes a connected vape pen designed to assist individuals in their efforts to quit smoking. This device pairs with a smartphone application called Hale, which serves as a digital support tool for users undergoing nicotine de-addiction. Through its focus on combining technology with therapeutic approaches, Hava Health aims to provide effective support for those seeking to overcome nicotine dependence.

MindTrace

Seed Round in 2021
MindTrace is a medical software company focused on enhancing neurosurgical procedures through the development of personalized 3D brain maps. By integrating advanced brain imaging with machine learning algorithms, the company creates simulations of surgical resection plans that allow neurosurgeons to predict patients' cognitive outcomes prior to surgery. This innovative approach enables surgeons to optimize the removal of brain tumors while minimizing damage to surrounding healthy tissue. Additionally, MindTrace's platform streamlines the process of analyzing brain imaging and behavioral data, reducing the time and effort required by medical teams. The company is supported by the Creative Destruction Lab, reflecting its commitment to advancing neurosurgical care.

Endolumik

Seed Round in 2021
Endolumik makes minimally invasive surgical tools more visible using near infrared technology. Endolumik was headquartered in Morgantown, USA.

Ariel Precision Medicine

Seed Round in 2021
Ariel Precision Medicine is a healthcare company that creates innovative solutions to simplify the personalized treatment of complex disease. It offers clinical decision support tools for the emergency department and the clinic. The company was founded in 2015 and headquartered in Pennsylvania, United States.

Circadiance

Seed Round in 2021
Circadiance LLC specializes in the development, manufacture, and marketing of respiratory products aimed at individuals with sleep-disordered breathing and those requiring non-invasive ventilation. Based in Turtle Creek, Pennsylvania, the company offers a range of innovative solutions, including the SleepWeaver all-cloth positive airway pressure masks, which provide comfort during sleep, and the SmartMonitor 2, a portable apnea monitor designed for infants that tracks heart and respiration activity. Additionally, the SmartMonitor 2 Professional Series delivers detailed heart rate, respiration, and oxygen saturation data for healthcare professionals. Circadiance also produces NeoPAP, a treatment system for newborns with respiratory distress syndrome, and SmartTrace electrodes for neonatal and pediatric use. The company's products are distributed through durable medical equipment providers and online retailers in the United States, as well as a network of international distributors, catering to a wide range of patients from premature infants to the elderly. Founded in 2006, Circadiance is committed to enhancing patient care and outcomes in both acute and home care settings.

SwifTAG Systems

Seed Round in 2020
SwifTAG Systems concepts and products were conceived by active researchers in the medical field who recognized the dramatic inefficiencies of existing small animal management systems and processes. Their mission is to bring high technology and medical research together to drive down costs and increase the time researchers spend doing actual research. They envision laboratories where animal management systems are functional, low maintenance, efficient, and as easy to use as a well-designed smartphone app. They want to see researchers focusing on medical breakthroughs, not on mindless small animal logistics. Their product lines include small animal tags, handheld and tabletop readers, cage and rack readers, whole laboratory management systems, and support software.

RC21X

Seed Round in 2020
RC21X is a user-friendly, web-based measurement and monitoring system consisting of 15 brief, game-like modules as well as unique reporting and performance Brain Health is a vital, yet often neglected area of wellness. With RC21X, you can monitor and be proactive with how well your brain is performing. They are moms and dads, grandparents, the children of seniors, youth coaches and former athletes. They are recognized researchers, respected medical practitioners, experienced game and software designers, and successful business and organizational administrators. They promote brain health, and they are here for you. They’ve developed innovative brain performance monitoring services for the B2B and B2C markets. Their services are provided either in a clinical setting or via a self-administered portal in the comfort of a home. The core product screens brain function by using fun, game-like experiences that encourage repeated use across a person’s lifespan. It’s about brain health and neuroplasticity—the ability to generate new brain cells and new connections throughout life. The more mental reserves you build up and the more you know about how well your brain is functioning, the better you can stave off age-related cognitive decline over the years. For us, it’s more than just a game.

Ariel Precision Medicine

Seed Round in 2020
Ariel Precision Medicine is a healthcare company that creates innovative solutions to simplify the personalized treatment of complex disease. It offers clinical decision support tools for the emergency department and the clinic. The company was founded in 2015 and headquartered in Pennsylvania, United States.

Vigilant Technologies

Seed Round in 2020
VIT is a health and safety company that is using smart technology to create products that help you better understand your body. By focusing on the patterns and behaviors that cause problematic behavior, their products can help identify the root cause of health problems before complications occur.

Cassian Solutions

Seed Round in 2020
Cassian Solutions, Inc. is a company that develops innovative medication management solutions, including a phone case medication dispenser and a comprehensive application designed to enhance patient compliance. Founded in 2018 and based in Phoenixville, Pennsylvania, the company targets pharmacies, clinical trial organizations, drug manufacturers, and insurers. Its platform addresses critical issues in patient monitoring and data reporting within the specialty medication market, clinical trials, and healthcare systems, aiming to improve health outcomes and reduce healthcare costs. By leveraging the widespread use of smartphones, Cassian Solutions focuses on creating personalized patient journeys that enhance engagement and facilitate real-time communication among all stakeholders involved in medication management.

AbiliLife

Seed Round in 2020
AbiliLife is a company dedicated to designing and developing products to improve the quality of life for patients with Parkinson's and other neurodegenerative diseases.

SwifTAG Systems

Seed Round in 2019
SwifTAG Systems concepts and products were conceived by active researchers in the medical field who recognized the dramatic inefficiencies of existing small animal management systems and processes. Their mission is to bring high technology and medical research together to drive down costs and increase the time researchers spend doing actual research. They envision laboratories where animal management systems are functional, low maintenance, efficient, and as easy to use as a well-designed smartphone app. They want to see researchers focusing on medical breakthroughs, not on mindless small animal logistics. Their product lines include small animal tags, handheld and tabletop readers, cage and rack readers, whole laboratory management systems, and support software.

Circadiance

Seed Round in 2019
Circadiance LLC specializes in the development, manufacture, and marketing of respiratory products aimed at individuals with sleep-disordered breathing and those requiring non-invasive ventilation. Based in Turtle Creek, Pennsylvania, the company offers a range of innovative solutions, including the SleepWeaver all-cloth positive airway pressure masks, which provide comfort during sleep, and the SmartMonitor 2, a portable apnea monitor designed for infants that tracks heart and respiration activity. Additionally, the SmartMonitor 2 Professional Series delivers detailed heart rate, respiration, and oxygen saturation data for healthcare professionals. Circadiance also produces NeoPAP, a treatment system for newborns with respiratory distress syndrome, and SmartTrace electrodes for neonatal and pediatric use. The company's products are distributed through durable medical equipment providers and online retailers in the United States, as well as a network of international distributors, catering to a wide range of patients from premature infants to the elderly. Founded in 2006, Circadiance is committed to enhancing patient care and outcomes in both acute and home care settings.

Ariel Precision Medicine

Seed Round in 2019
Ariel Precision Medicine is a healthcare company that creates innovative solutions to simplify the personalized treatment of complex disease. It offers clinical decision support tools for the emergency department and the clinic. The company was founded in 2015 and headquartered in Pennsylvania, United States.

AbiliLife

Seed Round in 2018
AbiliLife is a company dedicated to designing and developing products to improve the quality of life for patients with Parkinson's and other neurodegenerative diseases.

Behaivior

Seed Round in 2017
Behaivior LLC is a digital health company based in Pittsburgh, Pennsylvania, focused on predicting and preventing addiction relapses through innovative technology. Founded in 2017, Behaivior develops a platform that combines wearable devices and machine learning algorithms to monitor key physiological signals such as heart rate and motion. This system, known as Recovery, is designed to support mental health recovery and wellness by delivering timely interventions based on real-time data. By utilizing a software-as-a-service (SaaS) model, Behaivior empowers individuals to maintain their recovery process while enabling care providers to better assist their clients. The integration of AI and behavioral health technology allows Behaivior to recognize patterns in human behavior, ultimately aiming to enhance mental well-being and reduce the incidence of crises, including relapse.

Sharp Edge Labs

Series C in 2017
Sharp Edge Labs, Inc. engages in developing biosensors for cellular biology research and high-throughput screening. The company’s products include targeted biosensors to the cellular biology research community. It offers its products based on the fluorogenic activating proteins that provide a detection method for cellular changes, which is amendable to high-throughput screening and follow-up. The company was incorporated in 2011 and is based in Pittsburgh, Pennsylvania.

Ariel Precision Medicine

Convertible Note in 2017
Ariel Precision Medicine is a healthcare company that creates innovative solutions to simplify the personalized treatment of complex disease. It offers clinical decision support tools for the emergency department and the clinic. The company was founded in 2015 and headquartered in Pennsylvania, United States.

Circadiance

Convertible Note in 2017
Circadiance LLC specializes in the development, manufacture, and marketing of respiratory products aimed at individuals with sleep-disordered breathing and those requiring non-invasive ventilation. Based in Turtle Creek, Pennsylvania, the company offers a range of innovative solutions, including the SleepWeaver all-cloth positive airway pressure masks, which provide comfort during sleep, and the SmartMonitor 2, a portable apnea monitor designed for infants that tracks heart and respiration activity. Additionally, the SmartMonitor 2 Professional Series delivers detailed heart rate, respiration, and oxygen saturation data for healthcare professionals. Circadiance also produces NeoPAP, a treatment system for newborns with respiratory distress syndrome, and SmartTrace electrodes for neonatal and pediatric use. The company's products are distributed through durable medical equipment providers and online retailers in the United States, as well as a network of international distributors, catering to a wide range of patients from premature infants to the elderly. Founded in 2006, Circadiance is committed to enhancing patient care and outcomes in both acute and home care settings.

AbiliLife

Convertible Note in 2016
AbiliLife is a company dedicated to designing and developing products to improve the quality of life for patients with Parkinson's and other neurodegenerative diseases.

RC21X

Convertible Note in 2016
RC21X is a user-friendly, web-based measurement and monitoring system consisting of 15 brief, game-like modules as well as unique reporting and performance Brain Health is a vital, yet often neglected area of wellness. With RC21X, you can monitor and be proactive with how well your brain is performing. They are moms and dads, grandparents, the children of seniors, youth coaches and former athletes. They are recognized researchers, respected medical practitioners, experienced game and software designers, and successful business and organizational administrators. They promote brain health, and they are here for you. They’ve developed innovative brain performance monitoring services for the B2B and B2C markets. Their services are provided either in a clinical setting or via a self-administered portal in the comfort of a home. The core product screens brain function by using fun, game-like experiences that encourage repeated use across a person’s lifespan. It’s about brain health and neuroplasticity—the ability to generate new brain cells and new connections throughout life. The more mental reserves you build up and the more you know about how well your brain is functioning, the better you can stave off age-related cognitive decline over the years. For us, it’s more than just a game.

Sharp Edge Labs

Convertible Note in 2016
Sharp Edge Labs, Inc. engages in developing biosensors for cellular biology research and high-throughput screening. The company’s products include targeted biosensors to the cellular biology research community. It offers its products based on the fluorogenic activating proteins that provide a detection method for cellular changes, which is amendable to high-throughput screening and follow-up. The company was incorporated in 2011 and is based in Pittsburgh, Pennsylvania.

Vigilant Technologies

Seed Round in 2016
VIT is a health and safety company that is using smart technology to create products that help you better understand your body. By focusing on the patterns and behaviors that cause problematic behavior, their products can help identify the root cause of health problems before complications occur.

Accel Diagnostics

Convertible Note in 2016
Accel Diagnostics is developing a lab-on-chip protein diagnostic platform that enables inexpensive, disposable, credit-card sized devices to be used for the rapid diagnosis of infectious and chronic diseases at the point-of-care. pScreen™’s ability to deliver an accurate diagnosis within 30 minutes results in a higher quality of care at a significantly lower cost. Accel’s solution marks a paradigm shift in the management of congestive heart failure (CHF). For the first time, it allows CHF patients to frequently monitor their level of heart distress outside the clinical setting and in the comfort of their home. Accel’s solution enables patients and their physicians to respond before physical symptoms occur, preventing otherwise frequent life threatening events and costly reoccurring hospitalizations.

Accel Diagnostics

Convertible Note in 2015
Accel Diagnostics is developing a lab-on-chip protein diagnostic platform that enables inexpensive, disposable, credit-card sized devices to be used for the rapid diagnosis of infectious and chronic diseases at the point-of-care. pScreen™’s ability to deliver an accurate diagnosis within 30 minutes results in a higher quality of care at a significantly lower cost. Accel’s solution marks a paradigm shift in the management of congestive heart failure (CHF). For the first time, it allows CHF patients to frequently monitor their level of heart distress outside the clinical setting and in the comfort of their home. Accel’s solution enables patients and their physicians to respond before physical symptoms occur, preventing otherwise frequent life threatening events and costly reoccurring hospitalizations.

Adaptics

Seed Round in 2015
Adaptics Ltd. provides Drop, an iPad-connected kitchen scale and digital baking assistant for home bakers. Adaptics adds noticeable vitality to employees and organisations and helps them maintain long-term success. They do this by embedding top-quality service provision in vitalising managers, teams and players. Adaptics considers vitality a strategic resource that forms a basis for desired change in society. They have developed a unique integral approach that includes training, coaching, instructions and online tools. Adaptics has the ambition to address vitality at Champions League level, and to set the standard for corporate health in the Netherlands along with its partners and clients.

Sharp Edge Labs

Series B in 2014
Sharp Edge Labs, Inc. engages in developing biosensors for cellular biology research and high-throughput screening. The company’s products include targeted biosensors to the cellular biology research community. It offers its products based on the fluorogenic activating proteins that provide a detection method for cellular changes, which is amendable to high-throughput screening and follow-up. The company was incorporated in 2011 and is based in Pittsburgh, Pennsylvania.

NanoVision Diagnostics

Seed Round in 2014
NanoVision Diagnostics is commercializing a novel electro-optical cancer diagnostic system. The company develops an optical biomarker intended to offer cancer detection services that conduct an optical analysis of a standard biopsy slide to detect molecular changes in nuclear structure not detectable by pathology that enables medical practitioners to detect and treat cancer in the early stages.

Accel Diagnostics

Seed Round in 2013
Accel Diagnostics is developing a lab-on-chip protein diagnostic platform that enables inexpensive, disposable, credit-card sized devices to be used for the rapid diagnosis of infectious and chronic diseases at the point-of-care. pScreen™’s ability to deliver an accurate diagnosis within 30 minutes results in a higher quality of care at a significantly lower cost. Accel’s solution marks a paradigm shift in the management of congestive heart failure (CHF). For the first time, it allows CHF patients to frequently monitor their level of heart distress outside the clinical setting and in the comfort of their home. Accel’s solution enables patients and their physicians to respond before physical symptoms occur, preventing otherwise frequent life threatening events and costly reoccurring hospitalizations.

Mobile Aspects

Seed Round in 2001
Mobile Aspects, headquartered in Pittsburgh, Pennsylvania, specializes in surgical documentation solutions that enhance hospital safety and efficiency. The company offers a healthcare software platform that includes features such as data analytics, endoscope tracking, supply and implant tracking, and tissue tracking. These solutions aim to streamline hospital operations and improve both profitability and patient care. Mobile Aspects is recognized for its impact, with installations at numerous prestigious hospitals in the United States and around the world, including several that rank among the top hospitals according to US News and World Report.
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