CytoVale, NetScientific, Thiel Foundation deal

Biotech IP commercialization firm NetScientific will purchase a convertible note for up to $250,000 in medical technology companies that receive awards from the Thiel Foundation's Breakout Labs program. The Breakout Labs program awards up to $350,000 for very early stage companies. The partners plan to co-invest in four to six companies a year. The first Breakout Labs recipient to receive a NetScientific investment is Cytovale, which is developing a microfluidic platform to detect biophysical changes in white blood cells associated with early stages of sepsis. NetScientific identifies and invests in late-stage translational research from academic institutions worldwide, with a focus on the U.S. and U.K. ...