
Yale Ventures Annual Report 2025
FY 2025: July 1, 2024 - June 30, 2025
Letter from the Managing Director
At Yale, curiosity, creativity, and ideas converge to set new paths for research and discovery that will benefit humanity. Through Yale Ventures, Yale faculty and scholars are expanding the boundaries of knowledge to shape our future.
Yale President Maurie McInnis, BA, '90 MA, '96 PhD
At Yale Ventures, we believe that great ideas have the power to change the world. In 2025, we continued to build the infrastructure, community, and resources that help Yale innovators translate discovery into impact. From breakthroughs in health, quantum, planetary solutions and AI, we saw the tangible results of innovation done in service to society.
As you explore this report, you’ll see the amazing breadth of research, entrepreneurship and discovery coming from Yale faculty, students and staff and how Yale is increasingly recognized as a catalyst for new innovations that are improving the world around us. Thank you for being part of this journey.
Josh Geballe
Managing Director, Yale Ventures
Senior Associate Provost for Entrepreneurship and Innovation, Yale University
At a Glance
Entrepreneurial Activity
10
Yale faculty-led spinouts
83
Deals, new licenses
$5.75M
Translational funding awarded
Invention & Patent Activity
267
Invention disclosures
176
Patents issued
2,402
Total Yale Patents
Innovation Ecosystem
9,339
Event registrants across Yale Ventures events
79
Yale Ventures hosted events
8.7
NPS score for the 2025 Yale Innovation Summit
Innovation Stories
SPINOUTS & STARTUPS
AbbVie pays $65M for options on Yale Biotech Spinout EvolveImmune's T-cell engagers
Halda Therapeutics Announces First Patient Dosed in Phase 1/2 Clinical Trial Evaluating HLD-0915 in Metastatic Castration-Resistant Prostate Cancer
Cambium Carbon Announces $18.5M Series A Funding Round
‘Map of Life’ team wins $2 million prize for innovative rainforest tracking
P2 Science Named to Fast Company’s Annual List of the World’s Most Innovative Companies of 2025
Yale Spinout Quantum Circuits Announces Strategic Partnership with NVIDIA
Yale-related nonprofit wins global carbon removal prize
Carbon-Capture Startup Remora Sets Sights on Freight Rail
New Haven biotech Verinomics uses agricultural genomics, gene editing to produce healthier crops
Normunity closes $75M in Series B financing
CREW Carbon Signs $32M Offtake Agreement with Frontier
Yale Spinout Modifi Biosciences Acquired by Merck
Prepared Announces $27 million Series B
Yale Engineering Graduates Launch Spur, a Web App Testing Tool Supported by Y Combinator
Bexorg Exclusive: Rebooting dead human brains, a biotech startup seeks to reinvent early drug testing work
AWARDS & PROFILES
Top 50 BioTech Entrepreneurs of 2024: Craig Crews
Scrubs with a Mission: MiChaela Barker ’24 Launches Matcha Scrubs on Juneteenth
Harrison Meyer: The Innovator at the Intersection
17 Recognized with Yale Faculty Innovation Awards
Yale SOM Startup Stories: Building Houses with Printers
Reimagining the Business of Art: How MOC is Transforming Cultural Entrepreneurship
Oncovery Care Founded by Hil Moss '22 is Filling a Cancer Gap Care
Stephen Knight: Investing in Biotech Solutions
Yale SOM Startup Stories: Saphlux
Yale SOM Startup Stories: Streamlining Workflow for Engineers
INNOVATION COMMUNITY
Welcoming Yale Venture Summer Associates 2025
Opinion: Connecticut is doubling down on innovation
Quantum & Bioscience Center in New Haven selected as a finalists for the Connecticut Innovation Clusters Program
Campus symposium explores Yale’s role in shaping an AI future
Innovating with Integrity at the Yale Healthcare Conference
3 CT companies named to Fast Company's world’s 50 most innovative including Yale faculty founded P2 Science
Startup Yale 2025: A Celebration of Bold Ideas and Big Impact
Collaborative CT Expands Mission with Nonprofit Spotlight, Strengthening Connections Between Innovation & the New Haven Community
Yale Center for Engineering Innovation and Design celebrates 10 years
ClimateHaven gets $1M to help green tech company funding
Innovation Training & Startups
ACCELERATOR FUND
The Blavatnik Fund for Innovation at Yale
Accelerating the translation of early-stage life science research into impactful products and life saving solutions.
The Blavatnik Fund for Innovation at Yale is a $65 million fund dedicated to bridging the gap between groundbreaking academic science and the market. In FY25, the fund awarded $3.4 million to 25 projects selected from 117 applications. Spanning 17 therapeutic areas and 9 distinct modalities, this year’s portfolio reflects Yale’s expanding research excellence and the fund’s evolving commitment to supporting high-impact translational work.
A key shift in FY25 was the diversification of focus areas among our Development Awards. While oncology has traditionally dominated the portfolio, this year immunology, metabolic disease, and cardiology emerged as leading areas of investment. This pivot underscores a growing alignment between Yale’s research pipeline and current unmet needs in the life sciences market.
Now in its third year, the Accelerator Award program continues to demonstrate its value in nurturing bold, early-stage ideas. These $30,000 awards are designed to help researchers generate validating data for novel concepts and gain traction ahead of full Development Award consideration. Of the eight projects funded in the 2024 cohort, six successfully progressed to full Development Awards in 2025—a powerful endorsement of the program’s ability to accelerate innovation. This year’s eight Accelerator Awardees include four novel therapeutics, three AI-enabled platforms, and one cutting-edge bio-material/medical device.
HIGHLIGHTS: FY 2025
25
Projects
$3.4M
Awarded
7
Blavatnik Startups Founded
$103M
Total Raised in FY ’25
LIFETIME: 2017 - 2025
98
Unique Projects
9
IND Accepted
38
Ventures Launched
7
Clinical Trials Initiated
$438M
Follow-on Funding, Cumulative
FY25 also marked a milestone in company formation. Seven new ventures were launched by Yale investigators around Blavatnik-funded technologies, forming founding teams, licensing Yale intellectual property, and initiating fundraising efforts. The following section highlights those companies that have publicly launched, signaling real-world progress toward patient impact.
As the biotech funding landscape continues to shift—demanding more de-risking before traditional venture capital engages—non-dilutive, strategic funding plays an increasingly critical role. The Blavatnik Fund continues to meet this challenge by not only providing capital but also equipping academic founders with tools, guidance, and industry feedback to accelerate translational success.
Blavatnik Fund for Innovation at Yale to Support 15 Breakthrough Interventions in Cardiometabolic, Autoimmunity, Dermatology, Oncology, and More
Eight Translational Biotech Projects Selected for 2025 Blavatnik Accelerator Awards
Yale Life Science PitchFest 2024 Showcases Groundbreaking Research and Innovation
Yale’s Seth Herzon (Blavatnik Accelerator Awardee 2024) wins national chemistry honor
Dr. Anne Eichmann discusses D2B3
ACCELERATOR FUND
The Roberts Innovation Fund
Accelerating the engine of innovation at the Yale School of Engineering & Applied Science.
From new methods to remove carbon from seawater to personalized heart surgery simulations and ultra-low voltage circuits for energy-efficient AI, the 2025 Roberts Innovation Fund awardees represent the future of deep tech innovation at Yale.
This year, the Fund awarded $500K in accelerator funding to support 10 groundbreaking inventions led by faculty from the Yale School of Engineering & Applied Science. The Roberts Fund continues to bridge the gap between early-stage research and real-world impact through strategic support, mentorship, and access to external resources.
Since their awards in February 6 months ago, 3 startups are being formed. The 2025 cohort was also featured at the Yale Innovation Summit during a dedicated showcase session.
The Roberts Innovation Fund team grew this year with the addition of Grace O’Keefe as Portfolio Manager, further strengthening support for Yale Engineering innovation. Neil Tolaney, General Partner at TCV, joined the Roberts Innovation Fund Advisory Board as its newest member. At the same time, the team launched the Yale Engineering Innovation Fellows Pilot Program—a first-of-its-kind initiative for postdoctoral researchers and advanced PhD students in engineering to explore commercialization pathways. The pilot program offers a salary stipend to the lab, commercialization training, and access to industry mentors through a six-month cohort experience held two Fridays per month.
HIGHLIGHTS: FY 2024
10
Projects
$500K
Awarded
LIFETIME: 2022 - 2025
30
Total Awards
10
Companies Formed
$2M
Awarded
$18.9M
Follow-on Funding, Cumulative
VIDEOS
During the summer, a cohort of 3 full-time Yale students joined to work with the Roberts Innovation Fund team to support each Roberts project with market sizing, competitive landscape mapping, and go-to-market strategy. Together, they help de-risk early-stage technologies and prepare them for a potential launch into a market.
In addition to funding, mentorship, and support from student associates, Roberts awardees also receive access to cloud computing resources, including credits from Microsoft Azure, AWS, and Google—unlocking the infrastructure needed to scale AI-enabled innovation across projects.
This past year marked significant growth for the Roberts Innovation Fund team and increasing real-world impact as technologies supported by the Fund advanced toward market.
ACCELERATOR FUND
The Colton Center for Autoimmunity at Yale
Advancing innovative and translational research in autoimmune and allergic diseases.
Since its launch in 2020, the Colton Center for Autoimmunity at Yale (CCAY) has invested over $5 million to accelerate translational research in autoimmune and allergic diseases. Through its annual Colton Awards, Yale investigators have advanced therapeutic antibody and biomarker development, secured patents, launched startups, and published in leading journals.
In FY2025, the Center awarded $1.15 million to 11 projects translating to a collaboration with Google, while integrating its Technology Showcase into the Yale Innovation Summit to connect researchers with investors. Since inception, CCAY funding has supported 49 projects, resulting in 1 granted patent, 12 patent applications, 2 startup launches, and a Phase 1 clinical trial by Biohaven (NYSE: BHVN) for BHV-1600, a therapy partly developed through a 2020 award to Professor David Spiegel.
HIGHLIGHTS: FY 2025
11
Projects
$1.15M
Awarded
LIFETIME: 2022 - 2025
149
Total Awards
$5.2M
Awarded
12
Patent Filings
2
Yale Spinouts
This year’s community-building efforts include hosting a showcase at the Yale Innovation Summit and establishing the Colton Associates internship program, which engaged 6 entrepreneurial students in FY2025 in hands-on operational and educational activities.
Looking ahead, the Center will continue to invest in translational projects with strong potential for IP development and venture creation. Plans include expanding collaborations with peer Colton Centers at New York University, the University of Pennsylvania, and Tel Aviv University, and strengthening partnerships with industry. Focus areas will include lupus and lupus nephritis, fibrosis, autoimmune skin inflammation, neurodegenerative diseases, and gastrointestinal inflammation—advancing the Center's mission to bring innovative therapies to patients in need.
INNOVATION CENTER
The Center for Biomedical Innovation and Technology (CBIT)
Catalyzing innovators across Yale’s campus to make novel healthcare solutions in data science, diagnostics, and devices a reality.
Since 2014, The Yale Center for Biomedical Innovation and Technology (CBIT) has worked collaboratively with students and faculty across Yale to accelerate discoveries in biomedical and healthcare technology, including digital health, healthcare data, diagnostics, and medical devices. In 2025, CBIT convened two of Yale’s signature healthcare innovation events—the Yale Healthcare Hackathon and Clinical Pitch Night—while continuing to advance early-stage innovation through the Rothberg Build Fund and Catalyzer Prize at Startup Yale.
NEWS & HIGHLIGHTS
Yale Healthcare Hackathon
This year’s annual Healthcare Hackathon focused on “Hacking Healthspan and Longevity” and drew over 250 attendees, with 56% global participation representing 21 peer institutions, including Yale. Participants formed 18 interdisciplinary teams, competing for $8,500 in prizes. Hosted by CBIT at Yale Ventures, in collaboration with the Yale School of Public Health and the Yale School of Engineering and Applied Sciences, the event attracted a global audience eager to bring expertise in medicine, technology, and entrepreneurship to pressing longevity challenges.
Clinical Pitch Night
Seven clinician innovators showcased novel healthcare solutions to a packed room of over 150 students and faculty. The event fostered meaningful connections between Yale physicians and bright student minds, creating opportunities to advance projects addressing unmet medical needs.
Startup Yale & Student Innovation Funding
At Startup Yale, the Rothberg Catalyzer Prize drew 30 applicants, with four finalist teams competing for the $25,000 healthcare prize. The Rothberg Build Fund supported 17 student teams at the earliest stages of medical and healthcare innovation, awarding a total of $50,000. By bridging the gap between concept and implementation, the fund continues to enhance patient care, advance medical research, and shape the future of healthcare innovation at Yale.
Yale CBIT Hosts Successful Clinical Pitch Night, Showcasing Cutting-Edge Healthcare Innovations
Yale New Haven Health System Health AI Championship
Yale Startup Matchmaking Unites Bold Ideas and Multidisciplinary Startup Teams to Accelerate Impact
Innovation in Action: Yale’s Healthcare Ecosystem Tackles Longevity Challenges at Annual Hackathon
Former HHS Secretary Alex M. Azar ’91 J.D. Headlines Health Track at the 2025 Yale Innovation Summit
STUDENT INNOVATION
The Tsai Center for Innovative Thinking at Yale
Inspiring students from diverse backgrounds and disciplines to seek innovative ways to solve real-world problems.
$740,850
Total funding awarded
1,118
Office Hours hosted
61
Events & Workshops
200
Student projects supported
The 2024–2025 academic year was full of momentum at Tsai CITY. In our eighth year, we saw students pack workshops, pitch bold ideas, and team up through our venture programs like never before. Across our five innovation pathways, we blended programming, mentoring, funding, and community to help turn sparks of curiosity into ventures with real-world impact.
[Tsai CITY] is designed to work for you, rather than for some other external metrics. It's this space where, if I need inspiration, I can come to a talk. If I need some advice, I can ask to be connected with a mentor. If I need someone to listen to me. I can come to the space and see a friendly face and share what I'm working on.
—Nataliia Nevinchana (SOM ’27)
NEWS & HIGHLIGHTS
Built in Community, Fueled by Curiosity: Meet the Students Who Keep Coming Back to Tsai CITY
Bound by Collaboration: From Peer Connection to Product Launch
Match. Build. Repeat: The Rise of the Joiners Program
Startup Yale 2025: A Celebration of Bold Ideas and Big Impact
New Season, New Solutions: Celebrating Tsai CITY’s 2025 Summer Fellowship Cohort
The Tsai Center for Innovative Thinking at Yale (Tsai CITY) inspires students from diverse backgrounds and disciplines to seek innovative ways to solve real-world problems. Launched in 2017, Tsai CITY is the hub for student innovation at Yale, serving students from across the campus through co-curricular programs, funding, and mentorship.
FACULTY PROGRAMS
Venture Lab
A Yale innovation platform empowering faculty entrepreneurship with curated resources, executive mentorship, and end-to-end commercialization tools.
Venture Lab is Yale’s innovation platform dedicated to supporting faculty entrepreneurs across disciplines and at every stage of venture development. Powered by Yale Ventures’ Entrepreneurs and Executives in Residence (EIRs), the Lab offers targeted programs, executive mentorship, business analysis, and resources to help founders advance toward key milestones. Current offerings include Venture Lab Workshops and the NSF I-Corps Customer Discovery program, with additional initiatives continually expanding the platform. In 2025, Venture Lab will launch the Venture Lab Canvas—an interactive, guided platform that maps commercialization pathways and serves as a centralized hub for resources, case studies, and funding opportunities, further empowering Yale innovators to translate their ideas from the lab to the marketplace.
I-Corps Customer Discovery
Venture Lab Workshops
This year Venture Lab hosted its second NSF I-Corps Customer Discovery cohort, engaging 24 teams and 55 participants in training, mentorship, and early venture support. Over the year, teams benefited from 137 hours of guidance from EIRs, helping founders validate markets and strengthen commercialization pathways. Since launching in Fall 2024, the program has supported a total of 33 teams and 77 participants, creating a clear bridge to the national NSF I-Corps Teams program and potential $50,000 grants. By pairing groundbreaking science and technology with rigorous customer discovery, the program equips Yale innovators to attract investors, recruit top talent, and accelerate translation from the lab to the marketplace.
Over the past year, we continued to increase the capacity of our flagship program, Venture Lab Workshops, hosting 94 workshops (up from 41 in FY24 and 20 in FY23) and connecting 199 Yale Ventures EIRs with faculty innovators. Our EIR network expanded to include expertise in AI, data science, and quantum, providing deep, targeted guidance to faculty across disciplines. In total, EIRs contributed 1,046.4 hours of Mentor Hours to support faculty, offering strategic and technical feedback. Workshop topics reflected the breadth of Yale innovation: Therapeutics (24), Medical Devices & Digital Health (8), Diagnostics (5), Research Tools (1), Engineering (3), Data Science (7), Artificial Intelligence (8), Climate & Sustainability (1), and Platform technologies (3).
FY ’25
24
Teams Supported
137
Mentorship Hours
55
Total Participants
FY ’25
43
Venture Lab Workshops
1040+
Mentor Hours
82
Faculty Supported
199
EIRs: Entrepreneurs and Executives in Residence
amplifyHERscience
221
Innovators Supported Across 5 Elevator Pitch Intensives
9
Events Hosted
In 2025, amplifyHERscience continued to build momentum as a platform for empowering women innovators at Yale. The program hosted its signature Speed Networking series and five successful Elevator Pitch Intensives, providing direct support to more than 220 innovators across campus. Programming expanded with the launch of the inaugural AmplifyHERscience Luncheon, developed in collaboration with the Connecticut Technology Council, further strengthening regional connections and visibility. Over the year, amplifyHERscience hosted nine events in total, reaching more than 400 participants and reinforcing its role as a catalyst for inclusive innovation.

IP & Licensing
Yale Ventures IP & Licensing Services helps translate Yale University innovations into products and services that benefit society. The team has expertise in business development, marketing, intellectual property protection, contract negotiation, financing, and venture formation.
The IP & Licensing team proactively facilitate a range of connections between Yale and the private sector to further develop and commercialize Yale innovations, and are dedicated to serving the Yale community for a variety of successful outcomes:
OUR WORK
Executing Technology Licenses
Forging Research and Development Collaborations
Supporting the Formation of New Ventures
267
Disclosures
10
Faculty Spinouts
83
Deals, New Licenses
176
Patents Issued FY 25
2,402
Total Yale patents
Yale Technology Spotlight: EpiTet Therapeutics
Yale School of Medicine and Yale School of Public Health Partner with Sixty Degrees Pharmaceuticals on Patent License Agreement for Tafenoquine in Babesiosis Treatment and Prevention
Yale Technology Spotlight: KitchenTable
Osmol Therapeutics E.U. Patent Allowance for Novel Therapy Targeting Chemotherapy-induced Neuropathy
New Haven biotech Verinomics uses agricultural genomics, gene editing to produce healthier crops
Corporate Strategy & Engagement
The Corporate Strategy & Engagement Office (CSEO) continues to serve as Yale’s primary driver of deep, strategic partnerships with industry. In FY25, CSEO advanced a robust portfolio of alliances, strengthening relationships with key alliance partners, including AstraZeneca and Boehringer Ingelheim, while expanding new collaborations through programs such as the Yale Planetary Solutions Catalysts Consortium.
CSEO also played an active role in Yale’s participation in large-scale, multi-institutional initiatives such as QuantumCT, helping to secure corporate commitments and convening events that brought together more than 100 leaders from industry, academia, and government. Additional efforts included managing the CZ Biohub New York program, stewarding relationships with companies like FedEx through the Yale Center for Natural Carbon Capture, and advancing Yale Engineering’s corporate engagement strategy.
As a convener and facilitator, CSEO organized science days, symposia, and site visits that brought Yale faculty together with industrial scientists and executives to explore collaborative opportunities across disciplines. CSEO launched a new faculty education series, branded RAISE for Realizing Academic-Industrial Strategic Engagement, with two sessions that brought industry panelists from pharma to discuss their approaches to external innovation with faculty.
HIGHLIGHTS
400
Yale faculty engaged across alliances, workshops, and symposia
300+
Industry scientists, engineers, executives engaged in site visits and workshops
104
QuantumCT Industry Convening attendees, including 39 Yale faculty
$22M
Funding Raised to Support Faculty Research & Related Programs
OUR PARTNERS




Innovation Community
Yale Ventures takes the lead on building and nurturing a thriving ecosystem for innovation and entrepreneurship across Yale. This year we expanded our events and increased our outreach, engaging with greater numbers of Yale and Connecticut innovators. We welcomed over 6,500 people—innovators, investors, and industry partners, to engage with the Yale innovation community through a range of events and programming.
Each year we host some of Yale's biggest innovation events, including the Faculty Innovation Awards, Yale Life Science Pitchfest, and the Yale Innovation Summit. Additionally, we launched new events such as the Yale Founder Matchmaking event and Clinical Pitchfest welcoming and connecting students and faculty across Yale’s campus to launch, partner, and accelerate their ventures.
OUR WORK
Convening Events
Bringing the community together through summits, hackathons, pitch nights, and networking series.
Storytelling & Brand Building
Elevating Yale innovation through narratives, media, and strategic communications.
Community Partnerships
Collaborating with Yale schools, New Haven organizations, Connecticut networks, and global partners.
Talent & Networks
Building the entrepreneurial talent pipeline at Yale and beyond, to catalyze networks that fuel startups and strengthen the innovation ecosystem.
EVENT HIGHLIGHTS
Innovation in Action: Highlights and Winners from the 2025 Yale Innovation Summit
Collaborative CT Expands Mission with Nonprofit Spotlight, Strengthening Connections Between Innovation & the New Haven Community
Startup State of Mind: Connecticut Innovation Pavilion Powers Bold Connections at Yale Innovation Summit
Yale Startup Matchmaking Unites Bold Ideas and Multidisciplinary Startup Teams to Accelerate Impact
17 Recognized with Yale Faculty Innovation Awards
ALL EVENTS
TEAM
INNOVATION SUMMIT
79
Innovation Events (+56% YoY)
9,339
Event Registrants
78
Student Fellows & Associates
70
Yale Ventures Staff
199
EIRs & IIRs
8.7
Event NPS
2,400
Summit Attendees
$411,500
Awarded to Yale & CT Innovators
FEATURED EVENT
Yale Innovation Summit
Yale’s premier innovation event—where discovery meets capital, science meets startups, and partnerships spark real-world impact.
Innovation in Action: Highlights from the 2025 Yale Innovation Summit
2,400+
Attendees
300+
Ventures showcased
$400k
Startup Awards
Over 2,400 founders, investors, and industry partners attended our biggest ever Yale Innovation Summit, awarding $350,000 to innovators, and launching new programming including an Investor Assembly and a new track of programming to highlight the civic innovation in our ecosystem. Governor Ned Lamont chose the Yale Innovation Summit’s opening ceremony to announce the creation of the Innovation Clusters Program to support growth in cutting-edge industries.
SUMMIT NEWS
Former HHS Secretary Alex M. Azar ’91 J.D. Headlines Health Track at the 2025 Yale Innovation Summit
Innovation in Action: Highlights and Winners from the 2025 Yale Innovation Summit
Bold Ideas on Display: Meet the Innovators Selected to Present at the 2025 Yale Innovation Summit
Yale Innovation Summit Climate Catalyst Keynote: Four Visionaries, One Future, Zero Excuses
Startup State of Mind: Connecticut Innovation Pavilion Powers Bold Connections at Yale Innovation Summit
CT’s Arts Powerhouse Liz Shapiro Headlines the Arts Track at the Yale Innovation Summit with a Bold Vision: ‘Silicon Valley for the Arts’
Driving Public Innovation: New Civic Track Debuts at Yale Innovation Summit
Reed Jobs Announced as Biotech Keynote Speaker for 2025 Yale Innovation Summit
With deepest thanks to the volunteer mentors, investors, industry partners, service providers and other collaborators who come together to support the Yale innovation community, and to our faculty and students who inspire us every day.