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Venture Capital Firms Collaborate to Fund Altheus Therapeutics

The state’s venture capital industry is on the rise.

Oklahoma Capital Investment Board. September 20, 2007

Sept. 20, 2007 -- Oklahoma City, OK – Oklahoma entrepreneurs are finding more options in their search for capital. The most recent example, Altheus Therapeutics, of Oklahoma City, gained $3.6 million from three venture capital funds.

St Louis-based Prolog Ventures led the round. The firm specializes in young healthcare and bioscience companies. Recruited to the state by the Oklahoma Capital Investment Board (OCIB), Prolog has worked with since 2005 to mine the fruits of Oklahoma’s research universities.

Prolog was joined by Oklahoma Equity Partners (OEP), of Tulsa. Managed by Dave Humphrey, OEP has an expansive appetite, looking for companies in any sector and any stage, startups through established firms.

Rounding out the team was the Oklahoma Seed Capital Fund (OSCF). Launched just this year, OSCF seeks entrepreneurs forming new companies, primarily those commercializing new technologies from Oklahoma universities. OSCF was capitalized by the Oklahoma Center for the Advancement of Science and Technology, the Oklahoma Development Finance Authority, and OCIB.

These three funds are among the nineteen funds capitalized by OCIB since 1993, and among the nine venture funds that have made seed-stage investments in the state.

OCIB was founded in 1992 to help build the private venture capital industry that serves Oklahoma entrepreneurs. At that time the state had only two local venture funds. Today there are more than fifteen, and at least that number with a regular focus in the state. “By building the number and variety of local venture capital firms we can help ensure that entrepreneurs have an abundance of options, “ said OCIB President Devon Sauzek.

“It has been a good relationship for us,” Said Brian Clevinger, a managing director of Prolog. We are here because of the emerging bioscience cluster in Oklahoma City, and because OCIB made it possible with their investment in our fund.

Commenting on the transaction, OEP Director Dave Humphrey said, “This is great example of Oklahoma’s expanding capacity to support young companies with many new sources of capital and business building expertise.

About the Oklahoma Capital Investment Board (OCIB)

OCIB is a state entity created in 1992 to support Oklahoma entrepreneurs by building the private venture capital industry in the state.


Devon Sauzek