Mohr Davidow Combines Portfolio Companies To Fight Cancer
On-Q-ity, which announced a $21 million Series A round today, is a combination of two other Mohr Davidow companies -- CELLective Diagnostics and The DNA Repair Company -- that would have languished and probably died had their investors and scientists not figured out a way to keep their technology alive, said Mohr Davidow's Sue Siegel. Both companies had the misfortune of looking for a Series B round in the summer of 2008 -- a slow season to begin with -- and then getting hit with the global financial collapse that followed. "They found themselves not able to raise a financing, not because of the merits of the technology, but because of the environment and the circumstances that existed," Siegel said. "Many companies didn't get financing, and you'll find a graveyard of companies where either the technology was shelved or it got delayed or they're subsisting on minimal dollars until they see another day."
