Setting the standard in early-stage life sciences.

INVESTMENT BY DOMAIN EXPERTS AND INDUSTRY INSIDERS

Thesis

We invest in transformational devices and category defining therapeutics at critical pre-inflection points – often when technical risk has been mitigated but prior to key commercial or clinical milestones

Interventional solutions driving new paradigms in care such as neuromodulation and tissue regeneration

Robotic and AI-enabled systems delivering unprecedented precision and efficiency

Drugs and biologics administered through procedures, not prescriptions to slow/reverse disease & improve outcomes

Category Intelligence

Deep expertise across all life sciences segments lets us see where the industry is heading and identify and strategically invest in breakthrough technologies before consensus forms

Operator-Led Advantage

Industry leaders provide hands-on expertise across strategy, commercial scaling, team building, financing, and exit planning

Unmatched Access

Deep relationships with strategic acquirers and partners accelerate our portfolio’s path from breakthrough to exit

TEAM

Complementary Expertise

Neovate's expertise spans the entire value creation cycle, enabling successful navigation of scientific & commercial landscapes where others cannot

Nick Pachuda D.P.M.

Partner

Surgeon & Former Global Head of External Innovation at J&J. Launched Extremities Division at Arthrex, growing from concept to $1B global revenue business. Leadership Team of companies with exits totaling over $22 billion, including $350M Small Bone Innovations acquisition by Stryker, $180M Scient’x sale to Alphatec, and $21B Synthes sale to Johnson & Johnson.

Dr.Pachuda led the life science investment activities of the prior fund (Mountain State Capital SBIC, LP), and has served in leadership roles at MedTech startups as well as at one of the world’s largest MedTech companies (Johnson & Johnson Depuy Synthes). He is a globally-recognized leader in the MedTech industry who combines his clinical, technical, and business experience to identify transformational innovation opportunities and accelerate their path to success. In addition to investment activities, for the past several years, Nick has served as the Chief Operating Officer at Peptilogics, a Mountain State Capital portfolio company where he helped define the company’s strategy and led the successful raising of a $60 million round. Previously, Dr. Pachuda led Global External Innovation for Johnson & Johnson’s orthopedic device division. He created multiple new development, investment, and commercial ventures while at J&J and Arthrex (Digital Surgery & Robotics, Ambulatory Surgery Centers, Sports Medicine, Extremities). He also developed and restructured multiple startups for successful exits, including SBI to Stryker, and Scient’X to Alphatec. Prior to entering the MedTech industry in 2003, Dr. Pachuda practiced as a foot & ankle surgeon in the U.S. for ten years and completed an Orthopedic Trauma Fellowship in Germany.

Kevin Rocco, M.S.

Partner

Founder and CEO of Biorez who successfully developed a tendon/ligament healing implant, commercialized it to over $20M in sales, and exited to Conmed-Linvatec for $250M while also building an impressive portfolio of early-stage Medtech investments.

Kevin previously served as Chief Executive Officer at Biorez, a regenerative medicine startup that was acquired by ConMed in 2022 for $250 million. Prior to joining Biorez, Mr. Rocco studied tissue engineering at Yale University, where he coauthored 17 publications in the field and was a part of the research team with the first US clinical study of a bioresorbable vascular graft in humans. Mr. Rocco began his career as an engineer in new technology development at Covidien (acquired by Medtronic) where he investigated a novel bioresorbable hernia mesh device. Mr. Rocco holds a B.S. and M.S. in Biomedical Engineering from The University of Connecticut and Yale University, respectively. Mr. Rocco lives in New Haven, Connecticut.

Matt Harbaugh, J.D./M.B.A.

Partner

A seasoned investor and business leader who co-founded Mountain State Capital, led Innovation Works' $50M seed fund, served as CEO of Mobile Technologies (acquired by Meta), and has guided numerous tech and life sciences startups to more than $2B in follow-on funding and successful exits.

Matt has invested in, managed and advised more than 100 technology and life sciences startups over the past twenty years. Mr. Harbaugh currently works with Dr. Pachuda and Mr. Green to manage the investment activities of Mountain State Capital SBIC, LP. Previously, Mr. Harbaugh served as the CEO and COO of Mobile Technologies, LLC, an A.I./M.L. spinout from Carnegie Mellon University, which was acquired by Facebook in August 2013. In addition, Mr. Harbaugh’s prior investment experience includes nearly a decade at Innovation Works, Inc., where he served as Chief Investment Officer from 2006 to 2010 and as Director of External Finance from 2001 to 2006. During his tenure as Chief Investment Officer, Mr. Harbaugh led seed-and early-stage investments in over 50 companies across the life sciences, IT and energy sectors. Mr. Harbaugh received his undergraduate degree from Duke University and received his JD and MBA degrees from the George Washington University. Mr. Harbaugh lives in Pittsburgh, Pennsylvania.

Precision Life Science Partners

Exlusive Partnership

The Neovate team is augmented by a strategic partnership with Precision Life Science Partners, adding more than 70 sub-sector experts from major multinational medtech and biopharma firms. This partnership provides Neovate with direct connections to strategic partners, global deal flow, and operational support for portfolio comapnies.

MATT HARBAUGH has invested in, managed and advised more than 100 technology and life sciences startups over the past twenty years. Mr. Harbaugh currently works with Dr. Pachuda and Mr. Green to manage the investment activities of Mountain State Capital SBIC, LP. Previously, Mr. Harbaugh served as the CEO and COO of Mobile Technologies, LLC, an A.I./M.L. spinout from Carnegie Mellon University, which was acquired by Facebook in August 2013. In addition, Mr. Harbaugh’s prior investment experience includes nearly a decade at Innovation Works, Inc., where he served as Chief Investment Officer from 2006 to 2010 and as Director of External Finance from 2001 to 2006. During his tenure as Chief Investment Officer, Mr. Harbaugh led seed-and early-stage investments in over 50 companies across the life sciences, IT and energy sectors. Mr. Harbaugh received his undergraduate degree from Duke University and received his JD and MBA degrees from the George Washington University. Mr. Harbaugh lives in Pittsburgh, Pennsylvania.

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Let’s Chat

If your life sciences innovation fits our investment criteria and you're seeking Seed-stage to Series A funding, we'd like to hear from you.

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