Wisconsin Alumni Research Foundation

Founded in 1925, WARF is a private, nonprofit organization dedicated to supporting University of Wisconsin-Madison research. It protects and licenses discoveries from UW-Madison researchers to commercial partners, contributing to real-world benefits. Notable innovations include vitamin D therapies, anticoagulant Coumadin®, medical imaging systems, and human embryonic stem cell patents.

Alain Hung

Deputy Chief Investment Officer

Past deals in Wisconsin

Pyran

Venture Round in 2023
Founded in 2017, Pyran develops renewable industrial chemicals from agricultural and wood waste. Its proprietary process converts these resources into a five-carbon diol used in coatings, adhesives, plastics, and polyols production. The company serves chemical industries, offering cost-effective and environmentally sustainable alternatives to petroleum-derived products.

Pyran

Seed Round in 2021
Founded in 2017, Pyran develops renewable industrial chemicals from agricultural and wood waste. Its proprietary process converts these resources into a five-carbon diol used in coatings, adhesives, plastics, and polyols production. The company serves chemical industries, offering cost-effective and environmentally sustainable alternatives to petroleum-derived products.

Asto CT

Series B in 2021
Asto CT is a veterinary imaging company that develops X-ray computed tomography systems for horses, enabling safe, weight-bearing 3D imaging to diagnose and monitor conditions such as lameness, distal limb disease, fractures, and tooth or sinus problems. Its Equina solution provides rapid 3D scans of the lower limbs, head, and neck in standing horses without general anesthesia, supporting early detection and improved treatment planning for Thoroughbreds, other sport and recreation horses, and older animals. The company emphasizes high-quality imaging, ease of use, and integration of advanced robotics with fan-beam CT technology to enhance diagnostic capability and veterinary care. Founded in 2015 and based in Madison, Wisconsin, Asto CT aims to improve horse welfare by enabling safer, more accurate assessment while minimizing anesthesia risks.

OnLume

Series A in 2021
OnLume, Inc. is a medical device company based in Madison, Wisconsin, founded in 2015. The company specializes in developing intuitive and ergonomic imaging solutions for fluorescence image-guided surgery, aiming to enhance surgical precision and optimize patient outcomes. OnLume's technology provides high-quality imaging with low concentrations of fluorescent agents, allowing surgeons to visualize critical anatomy in real-time during procedures. Currently, prototypes of their systems are undergoing testing in collaboration with the Laboratory for Optical and Computational Imaging at the University of Wisconsin and the Morgridge Institute for Research. While the technology shows promise for both veterinary and human medicine, it has not yet received FDA clearance for market sale.

HealthMyne

Series B in 2018
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

FluGen

Series A in 2017
FluGen, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007, FluGen specializes in both seasonal and pandemic influenza prevention. The company offers RedeeFlu, a nasal spray vaccine, and utilizes a vaccine-loaded intradermal microneedle delivery device. FluGen's innovative approach includes the use of a live, single replication, intranasally delivered virus with a deleted M2 segment (M2SR), enhancing its ability to prevent the spread of influenza and other respiratory pathogens, including COVID-19.

Isomark

Funding Round in 2017
Isomark develops non-invasive breath analysis technology to detect infections by measuring isotopic biomarkers in exhaled carbon dioxide, enabling rapid detection of health conditions at or near the point of care. The platform supports pre-symptomatic and rapid infection detection in both human and animal health contexts, with the potential to reduce unnecessary antibiotic use and shorten diagnostic timelines. The company was founded in 2005 and is based in Madison, Wisconsin.

HealthMyne

Venture Round in 2016
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

Isomark

Venture Round in 2016
Isomark develops non-invasive breath analysis technology to detect infections by measuring isotopic biomarkers in exhaled carbon dioxide, enabling rapid detection of health conditions at or near the point of care. The platform supports pre-symptomatic and rapid infection detection in both human and animal health contexts, with the potential to reduce unnecessary antibiotic use and shorten diagnostic timelines. The company was founded in 2005 and is based in Madison, Wisconsin.

FluGen

Venture Round in 2016
FluGen, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007, FluGen specializes in both seasonal and pandemic influenza prevention. The company offers RedeeFlu, a nasal spray vaccine, and utilizes a vaccine-loaded intradermal microneedle delivery device. FluGen's innovative approach includes the use of a live, single replication, intranasally delivered virus with a deleted M2 segment (M2SR), enhancing its ability to prevent the spread of influenza and other respiratory pathogens, including COVID-19.

Isomark

Funding Round in 2016
Isomark develops non-invasive breath analysis technology to detect infections by measuring isotopic biomarkers in exhaled carbon dioxide, enabling rapid detection of health conditions at or near the point of care. The platform supports pre-symptomatic and rapid infection detection in both human and animal health contexts, with the potential to reduce unnecessary antibiotic use and shorten diagnostic timelines. The company was founded in 2005 and is based in Madison, Wisconsin.

Holos

Grant in 2015
Holos, Inc. is a company that specializes in spatial computing, providing a platform designed for educators and students to create and learn in immersive 3D environments. Founded in 2015 and based in Madison, Wisconsin, Holos offers a suite of user-friendly, no-code tools that enable users to develop training content in Augmented Reality. Its platform functions as a 3D equivalent of traditional presentation software, allowing users to integrate photos, videos, text, and 3D models into virtual spaces. Holos also features a collaborative "magic table" for presenting content and a library of pre-vetted 3D learning experiences. The solutions are designed to operate on desktop VR headsets, catering to both educational settings and technical training for critical sectors.

FluGen

Series A in 2015
FluGen, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007, FluGen specializes in both seasonal and pandemic influenza prevention. The company offers RedeeFlu, a nasal spray vaccine, and utilizes a vaccine-loaded intradermal microneedle delivery device. FluGen's innovative approach includes the use of a live, single replication, intranasally delivered virus with a deleted M2 segment (M2SR), enhancing its ability to prevent the spread of influenza and other respiratory pathogens, including COVID-19.

Isomark

Venture Round in 2014
Isomark develops non-invasive breath analysis technology to detect infections by measuring isotopic biomarkers in exhaled carbon dioxide, enabling rapid detection of health conditions at or near the point of care. The platform supports pre-symptomatic and rapid infection detection in both human and animal health contexts, with the potential to reduce unnecessary antibiotic use and shorten diagnostic timelines. The company was founded in 2005 and is based in Madison, Wisconsin.

Silatronix

Venture Round in 2013
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

NeuWave Medical

Series B in 2012
Founded in 2004 and based in Madison, Wisconsin, NeuWave Medical develops high-quality, minimally invasive medical devices that use energy to treat various serious health conditions. Led by founders who are both engineers and physician-scientists, the company aims to create clinically relevant and effective solutions, making its products the preferred choice for leading healthcare providers worldwide.

NeuWave Medical

Series A in 2008
Founded in 2004 and based in Madison, Wisconsin, NeuWave Medical develops high-quality, minimally invasive medical devices that use energy to treat various serious health conditions. Led by founders who are both engineers and physician-scientists, the company aims to create clinically relevant and effective solutions, making its products the preferred choice for leading healthcare providers worldwide.

Deltanoid Pharmaceuticals

Series B in 2007
Deltanoid Pharmaceuticals, Inc. is a biopharmaceutical company based in Madison, Wisconsin, dedicated to the research, development, and commercialization of innovative therapies for various human diseases. Founded in 1999, the company specializes in vitamin D analogs and other compounds, primarily focusing on treatments for renal diseases, osteoporosis, and skin conditions. Notably, Deltanoid's lead product, DP001, targets secondary hyperparathyroidism in patients with chronic kidney disease undergoing hemodialysis, while another product, DP006, is aimed at treating acne. The company leverages raw university inventions and has established partnerships to advance its drug development initiatives, including a collaboration with Novadiol, Inc. for the development of a vitamin D therapy. Deltanoid's mission is to enhance health outcomes by unlocking the potential of vitamin D receptor-based therapies.

Roche NimbleGen

Series D in 2003
Roche NimbleGen is a biotechnology company headquartered in Madison, Wisconsin, that specializes in providing products and services for the life science research market. The company offers a range of solutions including the SeqCap EZ system, which enhances exome enrichment in a single test tube, as well as various library construction kits and reagents. Roche NimbleGen's SeqCap Epi system focuses on DNA methylation assessment, providing tools for single-base resolution analysis. The company utilizes its proprietary Maskless Array Synthesis technology to manufacture high-density DNA microarrays, improving the quality and yield of DNA sequencing data. Additionally, Roche NimbleGen offers software tools such as SignalMap for genomic data visualization and NimbleDesign for library design, alongside comprehensive online technical support. Established in 1999, Roche NimbleGen operates as a subsidiary of Roche Holding AG, emphasizing research and innovation in genomic technologies.

Roche NimbleGen

Series B in 2001
Roche NimbleGen is a biotechnology company headquartered in Madison, Wisconsin, that specializes in providing products and services for the life science research market. The company offers a range of solutions including the SeqCap EZ system, which enhances exome enrichment in a single test tube, as well as various library construction kits and reagents. Roche NimbleGen's SeqCap Epi system focuses on DNA methylation assessment, providing tools for single-base resolution analysis. The company utilizes its proprietary Maskless Array Synthesis technology to manufacture high-density DNA microarrays, improving the quality and yield of DNA sequencing data. Additionally, Roche NimbleGen offers software tools such as SignalMap for genomic data visualization and NimbleDesign for library design, alongside comprehensive online technical support. Established in 1999, Roche NimbleGen operates as a subsidiary of Roche Holding AG, emphasizing research and innovation in genomic technologies.
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