NDVC protects ownership through exit. Less dilution, more money.

We write an equity check, then stack non-dilutive capital on top, helping founders clear regulatory milestones and reach commercialization. No other VC in health and bio does this.

NDVC is unlocking non-dilutive capital now

We've supported these startups pre-deployment because we believe in their team and approach:

iQ Surgical

Digital twin for brain surgery, real-time AI copilot building a live 3D map of the brain during the operation.

Founded by Jay Park, MD, Stanford neurosurgeon, alongside Rich Timm (18 years at J&J, 120+ patents) and Dr. Vivek Buch (Stanford neurosurgery).

Comp: Mazor Robotics

Exited to: Medtronic in 2018 for $1.7B

Calla Lily Clinical Care

Vaginal drug delivery device with FDA clearance, now partnering with Merck for their first in-woman trial.

Founded by Thang Vo-Ta (MIT, Oxford) and Lara Zibners, MD, MMEd, MBA. TIME Magazine "Best Invention of the Year," Fast Company "Most Innovative Company."

Comp: Antares Pharma

Exited to: Halozyme in 2022 for ~$960M

Calaris Dx

First saliva-based point-of-care lateral flow test for liver fibrosis triage. No blood draw, no imaging, results in minutes. Scoring 0.92 AUROC in validation against FIB-4's 0.74.

Founded by Jim Chen, MD, MPH, and Nodar Makharashvili, PhD, advised by Richard Sterling (FIB-4 inventor).

Comp: GenMark Diagnostics

Exited to: Roche in 2021 for $1.8B

Detella Dx

First reliable stage 1 ovarian cancer diagnostic, combining uterine lavage with an AI assay analyzing cancer mutations together with cell of origin.

Founded by Scott Kennedy (TwinStrand), Elena Cant (McKinsey, Takeda, Hospira), advised by Dr. Paul Speiser (inventor of uterine tubal lavage).

Comp: Thrive Earlier Detection

Exited to: Exact Sciences in 2020 for up to $2.15B

Companies we're excited about working with next:

Truss Health

Hardware sensors + AI, catching surgical site infections and post-op complications before they escalate. 4 active pilots, Mayo Clinic in co-development.

Founded by Kadambari Beelwar (Stanford Medicine, Kaiser Permanente, Penn) and Dr. Alexis Dang (Stanford, SF VA Health Care System).

Comp: Preventice Solutions

Exited to: Boston Scientific in 2021 for $925M + up to $300M milestones

Orbits Oncology

Lab-grown copy of a patient's tumor, tests real drugs before treatment starts. AI-scored organoid model showing 0.98 correlation with patient outcomes. MD Anderson and Memorial Sloan Kettering amended clinical protocols to use the assay.

Founded by Abraham Lin, PhD (7 patents, 45+ publications in cancer research).

Comp: Foundation Medicine

Exited to: Roche in 2018 for $2.4B

Zimma

AI surgical platform using real-time video, device telemetry, robotic kinematics. Models catch risks twice as accurately as surgeons alone.

Founded by Mishaal Ali, MD (UCSF surgeon, prior robotic surgery platform) and Sam McKennoch, PhD (ML at Allen Inst. for AI), advised by Daichi Kitaguchi, MD/PhD (surgical AI, National Cancer Center Japan).

Comp: HeartFlow

Market Cap: ~$2.5B, June 2026

Omnalis

AI platform replacing manual clinical trial coordination for CROs and pharma sponsors, embedded directly in GCP-regulated workflows for real switching costs. Active partnership with Regulatory Affairs Professionals Society.

Founded by Liz Wells, led sales at 3 YC-backed health companies, advised by David B Ross, MD, PhD, former FDA.

Comp: Medidata Solutions

Exited to: Dassault Systèmes in 2019 for $5.8B

Our Team: Built to Bridge The Valley of Death

Lauren M Taylor, Managing Partner

Lauren M Taylor, Managing Partner

  • Led 86 seed investments, 100 NPS, as Principal at REDF
  • Unlocked $70M in non-dilutive capital for the portfolio
  • Angel investor, 3.43x net MOIC over 6 years, 80% health/bio

Clinical Validation Design

  • Jennifer Duggan
    Jennifer Duggan
    Former Dir. of Global Clinical Studies, Abbott
  • Katie Baca-Motes
    Katie Baca-Motes
    Founder, Scripps Research Digital Trial Center
  • Betiel Hadgu Haile
    Betiel Hadgu Haile
    Evidence & Operations, Roche, Clinical Research Instructor, UC Berkeley
  • Julia Rozman
    Julia Rozman
    Strategic Advisory Scientist, BARDA DRIVe, Validation of AI/ML Models

Regulatory & Reimbursement

  • Christian Laurence-Diaz
    Christian Laurence-Diaz
    Former Senior Analyst HHS,
    Medicare/Medicaid
  • Elyse Heob
    Elyse Heob
    Co-Founder, ClearMask 0-100, Exited $45M Former CDC, Booz Allen

Commercialization

  • Adam Casson
    Adam Casson
    Serial Founder, Health/Bio
    Former GE Healthcare, Edison AI
  • Arvita Tripati
    Arvita Tripati
    GTM Strategy, Redesign Health, $2B+ in Enterprise Healthcare Revenue

Strategic Advisory

  • Eve Blossom
    Eve Blossom
    Serial Founder in Health & FinTech Investor, Aspen Fellow
  • Benjamin Bimanywaruhanga
    Benjamin Bimanywaruhanga
    Pharmacist, CVS Health Founder, Angel, LP

Survive the Valley with fifty percent ownership at exit instead of twenty or less.

We’re looking for companies with a short path through regulatory, the potential to commercialize in under 4 years, and a clear line to $100M ARR. Multi-indication platforms attract the most NDC.
Survive the Valley with fifty percent ownership at exit instead of twenty or less.

Recommended Resources

Creative Destruction Lab, Health Stream

Building with industry partners? Lauren mentors founders in CDL's Health Stream, helping them open doors with the partners who matter most.

Science Center, Capital Readiness Program

Sharpening your fundraising strategy? Lauren serves as Investor in Residence at Science Center, helping founders get ready for the raise.

NDVC Blog

NDVC is a newsletter with insights from the people shaping how healthcare gets built and paid for—policymakers, founders, and funders—so you can make smarter decisions about funding and growth.

Non-Dilutive Capital

How a $10M fund can invest in 40 startups

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