R.I. Life Science Hub Launches New Investments to Power Next-Gen Healthcare Companies Across Rhode Island

Funding to Accelerate Regional Economic Growth, Generating Over $80 Million in Private Investment and Creating More Than 200 New Jobs Over the Next Five Years.

PROVIDENCE, R.I. –

To help accelerate scientific discovery, the Rhode Island Life Science Hub has invested $5 million in promising health innovators, supporting 13 companies from across the globe in its second round of business development funding—including several awardees relocating to Rhode Island. The awarded companies span a range of science focus areas including medical technologies, diagnostics, and therapeutics.

“Building a thriving, competitive life science ecosystem in Rhode Island means investing in companies, innovative technology and teams that help drive a culture and foundation of excellence in the life science sector,” said Dr. Mark A. Turco, President & CEO of the Rhode Island Life Science Hub. “The Life Science Hub is proud to support these companies whose work advances patient outcomes and, improves health care delivery.”

“With $12 million invested in business development opportunities this year alone, the Life Science Hub is attracting companies to the state, creating new job opportunities, and catalyzing innovation and economic growth for decades to come,” said Turco.

The awards, approved by the Life Science Hub’s Board of Directors on May 16, 2025, fall into three strategic categories designed to support the state’s life sciences ecosystem. New Business Attraction funds support life science companies establishing their first location in Rhode Island or a significant expansion to their existing business. Rhode Island Growth Catalyst funds support Rhode Island life science companies and manufacturers scale and accelerate technology development. Rhode Island Lift funds support Rhode Island life science companies raising private capital with additional non-dilutive funds.

New Business Attraction awardees include:

• OncoLux, Inc., an advanced optical imaging and AI company leveraging its technology to improve surgical procedures in the field of oncology, will expand the company from Connecticut to Rhode Island. PathMaker Neurosystems, a clinical stage neurotechnology company developing a breakthrough, non-invasive treatment approach for amyotrophic lateral sclerosis (ALS), will expand from Massachusetts to Rhode Island, and prepare for clinical trials.
• PathMaker Neurosystems, a clinical stage neurotechnology company developing a breakthrough, non-invasive treatment approach for amyotrophic lateral sclerosis (ALS), will expand from Massachusetts to Rhode Island, and prepare for clinical trials.
• Mantis Health, a medical technology company that manufactures 3D Digital Glasses which are a novel visualization platform for performing live dental surgery, will receive funding to expand the company from Connecticut to Rhode Island, establish an office and build-out for manufacturing, training and technology development.
• VeinTech, an Australian medical technology company with a medical device aimed at revolutionizing safe and effective vascular access, will expand the company from Australia and advance the product in Rhode Island.

Rhode Island Growth Catalyst awardees include

• Mind Immune Therapeutics, Inc., a biopharmaceutical company at the forefront in developing first-in-class drugs that target the immune system to treat diseases of the central nervous system, will receive funding to accelerate its Investigational New Drug (IND)-Enabling study.
• Native Orthopaedics, Inc., a medical technology company in the orthopedic field that develops innovative solutions to improve outcomes for patients with knee injuries, will receive funding to conduct competitive product testing in preparation for a product launch.
• BrachyClip, a medical device company dedicated to advancing cancer treatment through the development of cutting-edge brachytherapy solutions, will receive funding to support prototype development.
• NanoDe Therapeutics, Inc., a company that specializes in creating innovative nucleic acid therapies, such as RNA interference, mRNA and DNA, for the treatment of cancer and arthritis, will receive funding to conduct a two-phased feasibility study to accelerate therapy development.
• WellAware Research, Inc., a Rhode Island-based startup that develops digital health solutions with AI to support monitoring and screening neurodegenerative diseases, will receive funding to advance technology development and readiness of their clinical trial for rural-living adults

Rhode Island Lift awardees include:

• XM Therapeutics, Inc., a company that develops novel tissue repair and regeneration technologies to treat chronic disorders, will receive funding to transfer research and production from Brown University to a Rhode Island company lab.
• Flourish Collective, Inc., a tech-enabled healthcare company reimagining maternity care will receive funding to support product development and go-to market activities in Rhode Island, Massachusetts and New Jersey.
• Docs for Health, a health technology company that uses an advanced care management and referral platform to systematically screen patients for social determinants of health, will receive funding to support platform compliance features.
• Pax Therapeutics, a biotech company developing a gene delivery technology to optimize the healing of tendon and ligament tears, will receive funding for enabling studies.

About the Rhode Island Life Science Hub: The Life Science Hub positions the state to deliver on a bold vision of transforming Rhode Island into a globally recognized life science innovation hub by coalescing existing stakeholders, activities, and investments while building new capabilities. Through an initial three-year, $45 million investment, the Hub will serve as the central and coordinating organization facilitating the development of medical advances and scientific breakthroughs by supporting companies that specialize in life sciences.

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