Peter Thiel’s Breakout Labs Selects Four New Companies Pushing the Boundaries of Science and Technology
By Business Wire News
By Business Wire News
Breakout Labs, a program of Peter Thiel’s philanthropic organization, the Thiel Foundation, announced today that four new companies advancing scientific discoveries in biomedical, chemical engineering, and nanotechnology have been selected for funding.
“We’re always hearing about bold new scientific research that promises to transform the world, but far too often the latest discoveries are left withering in a lab,” said Lindy Fishburne, Executive Director of Breakout Labs. “Our mission is to help a new type of scientist-entrepreneur navigate the startup ecosystem and build lasting companies that can make audacious scientific discoveries meaningful to everyday life. The four new companies joining the Breakout Labs portfolio – nanoGriptech, Maxterial, C2Sense, and CyteGen – embody that spirit and we’re excited to be working with them to help make their vision a reality.”
The future of adhesives: inspired by geckos
Inspired by the gecko’s ability to scuttle up walls and across ceilings due to their millions of micro/nano foot-hairs, nanoGriptech (http://nanogriptech.com/), based in Pittsburgh, Pa., is developing a new kind of microfiber adhesive material that is strong, lightweight, and reusable without requiring glues or producing harmful residues. Currently being tested by the U.S. military, NASA, and top global brands, nanoGriptech’s flagship product Setex™ is the first adhesive product of its kind that is not only strong and durable, but can also be manufactured at low cost, and at scale.
“We envision a future filled with no-leak biohazard enclosures, ergonomic and inexpensive car seats, extremely durable aerospace adhesives, comfortable prosthetic liners, high performance athletic wear, and widely available nanotechnology-enabled products manufactured less expensively — all thanks to the grippy little gecko,” said Roi Ben-Itzhak, CFO and VP of Business Development for nanoGriptech.
A sense of smell for the digital world
Despite the U.S. Department of Agriculture’s recent goals to drastically reduce food waste, most consumers don’t realize the global problem created by 1.3 billion metric tons of food wasted each year — clogging landfills and releasing unsustainable levels of methane gas into the atmosphere. Using technology developed at MIT’s Swager lab, Cambridge, Ma.-based C2Sense (http://www.c2sense.com/) is developing inexpensive, lightweight hand-held sensors based on carbon nanotubes which can detect fruit ripeness and meat, fish and poultry freshness. Smaller than a half of a business card, these sensors can be developed at very low cost, require very little power to operate, and can be easily integrated into most agricultural supply chains, including food storage packaging, to ensure that food is picked, stored, shipped, and sold at optimal freshness.
“Our mission is to bring a sense of smell to the digital world. With our technology, that package of steaks in your refrigerator will tell you when it’s about to go bad, recommend some recipe options and help build out your shopping list,” said Jan Schnorr, Chief Technology Officer of C2Sense.
Amazing metals that completely repel water
MaxterialTM, Inc. develops amazing materials that resist a variety of detrimental environmental effects through technology that emulates similar strategies found in nature, such as the self-cleaning lotus leaf and antifouling properties of crabs. By modifying the surface shape or texture of a metal, through a method that is very affordable and easy to introduce into the existing manufacturing process, Maxterial introduces a microlayer of air pockets that reduce contact surface area. The underlying material can be chemically the same as ever, retaining inherent properties like thermal and electrical conductivity. But through Maxterial’s technology, the metallic surface also becomes inherently water repellant. This property introduces the superhydrophobic maxterial as a potential solution to a myriad of problems, such as corrosion, biofouling, and ice formation. Maxterial is currently focused on developing durable hygienic and eco-friendly anti-corrosion coatings for metallic surfaces.
“Our process has the potential to create metallic objects that retain their amazing properties for the lifetime of the object – this isn’t an aftermarket coating that can wear or chip off,” said Mehdi Kargar, Co-founder and CEO of Maxterial, Inc. “We are working towards a day when shipping equipment can withstand harsh arctic environments, offshore structures can resist corrosion, and electronics can be fully submersible and continue working as good as new.”
New approaches to combat aging
CyteGen (http://cytegen.com/) wants to dramatically increase the human healthspan, tackle neurodegenerative diseases, and reverse age-related decline. What makes this possible now is new discovery tools backed by the dream team of interdisciplinary experts the company has assembled. CyteGen’s approach is unusually collaborative, tapping into the resources and expertise of world-renowned researchers across eight major universities to focus different strengths and perspectives to achieve the company’s goals. By approaching aging from a holistic, systematic point of view, rather than focusing solely on discrete definitions of disease, they have developed a new way to think about aging, and to develop treatments that can help people live longer, healthier lives.
“There is an assumption that aging necessarily brings the kind of physical and mental decline that results in Parkinson’s, Alzheimer’s, and other diseases. Evidence indicates otherwise, which is what spurred us to launch CyteGen,” said George Ugras, Co-Founder and President of CyteGen.
To date, Breakout Labs has invested in more than two dozen companies at the forefront of science, helping radical technologies get beyond common hurdles faced by early stage companies, and advance research and development to market much more quickly. Portfolio companies have raised more than six times the amount of capital invested in the program by the Thiel Foundation, and represent six Series A valuations ranging from $10 million to $60 million as well as one acquisition.
The entire portfolio of Breakout Labs companies can be viewed at www.breakoutabs.org/portfolio.
ABOUT BREAKOUT LABS
Breakout Labs is a seed-stage revolving fund operating out of the Thiel Foundation in San Francisco. Our mission is to help early stage companies transition radical scientific advances out of the lab and into the economy. Although we are open to funding across all advanced sciences and technologies, we place a special emphasis on the intersection of biology and technology. Through our funding of up to $350K, we support our portfolio companies in their efforts to reach key strategic R&D milestones. The program provides additional support to our companies in the form of key introductions to potential follow-on funders, refinement of business plans and presentations, and resources that facilitate the process of building their companies. Since its inception in late 2011, Breakout Labs has funded 26 companies, resulting in one exit (acquisition by Yahoo!) and 6 Series A rounds ranging from $3M – $11M. Since receiving Breakout Labs funding, portfolio companies have gone on to secure >6X our investment in additional capital. For more information, see www.BreakoutLabs.org.
Ross Gillfillan, 415-599-4403