Spencer Trask & Co.

From Wikipedia, the free encyclopedia
Spencer Trask & Co.
IndustryFinancial services
Headquarters
Greenwich, CT
,
United States
Key people
Kevin Kimberlin
(Chairman)
William Clifford
(CEO)
ServicesBuild advanced technology companies
Websitespencertraskco.com

Spencer Trask & Co. is a privately held advanced technology development company.

Members and affiliates of Spencer Trask & Co. are founders of, advisors to, and investors in private and public companies through direct investments and numerous limited liability companies.

Spencer Trask & Co., has been a partner in the formative stage of genomic medicine with Myriad Genetics,[1] healthcare reform with Health Dialog,[2] patent development with Intellectual Ventures,[3] the Internet with Ciena,[4] cloud computing infrastructure with Aperture,[5] and open innovation with InnoCentive.[6]

Several ventures backed by Spencer Trask have been acquired, including: Osiris Therapeutics ($660 million),[7] Prolor (stock swap worth $1.2 billion),[8] ImThera Medical ($225 million),[9] Health Dialog ($775 million),[10] and Prospect Medical ($363 million).[11]

Legacy[]

The firm's namesake is Mr. Spencer A. Trask who financed Thomas Edison and Guglielmo Marconi. Mr. Trask was a founding trustee of the predecessor to General Electric, the president of the world's first electricity firm, Consolidated Edison, and the chairman of The New York Times who hired Adolph Ochs.

References[]

  1. ^ "Myriad: Pioneering Predictive Medicine". University of Utah, Center for Technology & Venture Commercialization. April 25, 2018.
  2. ^ Lancaster, Hal (August 3, 1999). "Mr. George Bennett on the Founding of Health Dialog". The Wall Street Journal.
  3. ^ Phelps, Marshall; Kline, David (2009-05-13). Burning the Ships: Transforming Your Company's Culture Through Intellectual Property Strategy. ISBN 9780470494103.
  4. ^ Karlgaard, Richard (June 1, 1998). "Dollars from Heaven". Forbes – via Forbes.com.
  5. ^ "Spencer Trask Announces Sale of Leading Data Center Software Supplier Aperture". www.businesswire.com. March 26, 2008.
  6. ^ Walsh, Bryan (March 10, 2008). "How Many People Does It Take to Make a New Light Bulb?" – via content.time.com.
  7. ^ "Smith & Nephew puts up $660m for Osiris Therapeutics". MassDevice. 2019-03-12. Retrieved 2021-03-04.
  8. ^ "Billionaire Frost Props Up Prolor Bid With Stock Buys". Bloomberg.com. 2013-05-17. Retrieved 2021-03-04.
  9. ^ Roy, Sree. "LivaNova PLC Acquires ImThera for $225 Million | Sleep Review". Retrieved 2021-03-04.
  10. ^ "Health Dialog sold in $775M deal". Boston Business Journal. Retrieved 2021-03-04.
  11. ^ Shinkman, Ron (2011-08-30). "Leonard Green acquires Prospect Medical Holdings". Fierce Healthcare. Retrieved 2021-03-04.

Further reading[]

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