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Thermalin Diabetes Wins $250,000 to Develop New Insulins

Monday, March 29, 2010

Excerpt of story provided by MedCity News
Written by Mary Vanac

Thermalin Diabetes Inc., the Cleveland start-up that is developing new forms of insulin, has received a $250,000 investment commitment from JumpStart Ventures on the way to a Series A fundraising likely to be completed by the end of May.

“It’s the first piece of what I think will be close to $2 million-worth of financing we’re going to close within the next two months,” said Rick Berenson, executive chairman of Thermalin and managing director of Venzyme Venture Catalyst in Newton, Mass.

“We were very pleased about it. JumpStart was very constructive throughout the process and we ended up with a great outcome,” Berenson said. JumpStart Ventures is the investment arm of JumpStart Inc., the nonprofit venture developer in Northeast Ohio...
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