Torrey Pines Investment Establishes a $60 Million TealTech Fund to Support Point-of-Care Medicine

SAN DIEGO, May 16, 2017 /PRNewswire/ -- Torrey Pines Investment announced today the creation of a $60 million fund to finance innovative start-ups in the areas of point-of-care diagnostics and treatment, novel organizational and financial models of health services delivery, including in-home and virtual care, as well as artificial intelligence and deep learning healthcare support systems. The main goal of the fund is to promote the development of these cutting-edge medical and healthcare technologies while providing patients with fast and convenient healthcare services.

"Healthcare is moving towards digitized personalized care which gives patients the convenient and accessible medical services where and when they need it," commented Nikolay Savchuk, Managing Partner at Torrey Pines Investment. "The TealTech fund focuses on the three main directions of fundamental shifts in healthcare: the medical technologies innovations, digital care, and artificial intelligence tools. We believe that the future of healthcare lies in the accessibility and flexibility that digital care and point-of-care diagnostics and treatment provide, as well as in the precision and convenience that computer-assisted tools help deliver. Thus, we created the fund to help advance innovative start-ups that bring convenient, digitalized, modern solutions to patients."

Torrey Pines and its partners will invest up to $60 million over the next 5 years. The fund's first venture will be a platform for rapid clinical-level diagnostics enabling medical care to move from a physician's office to the patient's home—the TealNet Mobile Medical Office.

About TealNet MMO

TealNet MMO is a San Diego-based start-up company providing technologies for rapid on-site healthcare services based on point-of-care express diagnostics and telemedicine. TealNet Mobile Medical Office platform enables qualified physicians to perform express diagnostic analyses that would take 1-3 days in a regular hospital or clinic within 10-15 minutes at a patient's home. Learn more at http://tealtechmmo.com/

About Torrey Pines

Torrey Pines Investment, founded in 2002, is a specialty life-science investment company located in San Diego that invests in early development-stage assets from international pharma and biotech partners in the CNS, oncology, and virology areas to bring them to commercial success through pharma partnering and M&A. Learn more at http://torreypinesinv.com/

Media Contact:

Gelena Lifschitz
Business Development Director
Torrey Pines Investment
[email protected]

SOURCE Torrey Pines Investment

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