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Foundry Offspring Sires First Company

ForSight Labs LLC, the incubator founded in 2005 by The Foundry spun out its first company, Transcend Medical Inc., a company targeting glaucoma. Morgenthaler Ventures and Split Rock Partners teamed up to supply the company's first round of financing.

Morgenthaler Ventures General Partner Robin Bellas admits to having some early concerns about the Transcend Medical Inc. , the first company to emerge from ForSight Labs LLC, the incubator backed by his venture firm, Split Rock Partners and Versant Ventures. (See "From The Foundry: An Incubator Focused on Ophthalmology," START-UP, December 2005 Also see "From The Foundry: An Incubator Focused on Ophthalmology" - Scrip, 1 December, 2005..)

No doubt, Transcend is pursuing a huge market—glaucoma, the leading cause of irreversible blindness. But the approach initially didn’t sound...

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