|By Marketwired .||
|June 11, 2014 10:19 AM EDT||
PALO ALTO, CA and BOSTON, MA -- (Marketwired) -- 06/11/14 -- Lightstone Ventures (LSV) today announced the addition of Mark Deem and Hanson Gifford as its newest Venture Partners. Deem and Gifford are Managing Partners with The Foundry, the premier medical device incubator and a long-standing partner of the Lightstone team. They join existing LSV Venture Partner Alain Baron, M.D. in the sourcing, evaluation and management of promising medical device companies.
"We have a long, successful history of partnering with The Foundry, and with Mark and Hanson specifically," said founding LSV General Partner Mike Carusi. "In addition to serving on the boards of multiple Foundry-based companies, Lightstone investors have invested in 14 Foundry deals, and we are thrilled to be strengthening that partnership with these appointments."
Today's announcement comes on the heels of other recent LSV milestones including the closing of its first fund at $172 million, the largest, first-time, U.S. life sciences venture fund raised in over two years; and the opening of its first international office in Dublin, Ireland, as well as a partnership with the Irish government to help develop and fund Irish-based innovation.
Deem presently serves as acting CEO of FIRE1, an LSV portfolio company; Chairman for Miramar Labs; and a Director for Holaira and Twelve. He has spent over twenty years designing, testing and manufacturing medical devices, and is a co-inventor on over 150 patents. He has been with The Foundry for its entire 15-year history and a founding member of each of the 16 companies The Foundry has formed.
Gifford has been leading The Foundry in all its initiatives since 1998, including the invention, identification and development of new technologies; the formation, financing, and staffing of new companies; and the ongoing support of these new ventures as a Board member. Gifford is a co-inventor on over 200 patents. He serves as Chairman for ForSight Labs, and a Director of Miramar Labs, Twelve, Cotera, FIRE1, Forsight Vision 4 and Forsight Vision 5.
About Lightstone Ventures
Lightstone Ventures was founded in 2012 by the Life Science Partners of Advanced Technology Ventures (ATV) and Morgenthaler Ventures to focus on novel breakthrough medical devices and biopharmaceuticals. For more information, visit www.lightstonevc.com.
Donna von Halle
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