Limestone Partners Tristar to Form New Molecular Diagnostics Company, Diagnovus
10/3/2011 8:40:34 AM
NASHVILLE, Tenn., Sept. 30, 2011 /PRNewswire/ --Limestone Fund and TriStar Technology Ventures are pleased to have joined together to form a new company, Diagnovus, LLC, which is headquartered in Nashville, Tennessee. As part of its creation, TriStar and Limestone also completed a seed financing round for the company.
Diagnovus, LLC is a molecular diagnostics company targeting rare forms of cancer, including pediatric cancers. Diagnovus is dedicated to developing diagnostic tests that will better inform physicians, payers, patients and families facing these difficult disease prospects. The Company will identify, in-license, develop and commercialize diagnostic assays that have been developed at leading institutions around the United States.
"We are pleased to be a founder of Diagnovus, a company focused on providing individualized diagnostic information to physicians and others providing care to patients facing the uncertainties of cancer diagnosis. Building on the existing strong base of innovation across Tennessee, we believe Diagnovus can focus on providing better individualized information to physicians, patients and caregivers, especially in less frequent cancers, while materially contributing to the continued growth of life sciences in our state," said Joe C. Cook, Jr., Principal of Limestone Fund, LLC.
Diagnovus, LLC's first full-time employee will be James Stover, Ph.D. Dr. Stover is leaving his position as Vice President of Tennessee Technology Development Corporation and will join the Company as Vice President of Business Development. Prior to joining TTDC, Dr. Stover was a life science analyst with Square 1 Bank in San Diego, CA, and a senior research fellow in medicinal chemistry at the Scripps Research Institute. "I am delighted to join Diagnovus, LLC and begin working with the Limestone Fund and Tristar Technology Ventures. I look forward to building a molecular diagnostics company that will passionately focus on helping patients with underserved cancers with the intent to provide oncologists diagnostic information in order to optimize therapeutic choice with the ultimate goal of improving patient outcomes."
About Limestone Fund
Limestone Fund, LLC is an early stage venture capital fund focused on investing in life sciences and consumer technology companies based in Tennessee. Limestone's principals seek to leverage their experience in these industries to create, support and grow sustainable companies that meaningfully contribute to the economic fabric of Tennessee. For more information, visit www.mgcfund.com/limestone-fund.
About TriStar Technology Fund
TriStar Technology Fund, LLC is an early stage venture fund that focuses on forming and investing in companies in the area broadly defined as "healthcare innovation:" biotech, pharmaceuticals, personalized medicine, medical devices, healthcare IT and healthcare services. TriStar's mission is to identify, create and grow early stage, transformative healthcare companies, focusing on opportunities in the Southeast. For more information, visit www.tstventures.com.
SOURCE Limestone Fund, LLC