Runway Growth Capital Adds to Life Science… Leave a comment

Brannon Morisoli will focus on investments in the life sciences industry and build relationships with leading venture capital firms to support teams in life sciences. [Illustration: courtesy photo, istockphoto]

Runway Growth Capital, a California-based provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced that it has hired Brannon Morisoli as managing director, life sciences.

Operating out of Dallas, Morisoli will continue to build relationships with leading VC firms that support top management teams in life sciences, while expanding the firm’s banking and broker relationships. Runway’s industry partners include VCs, PE firms, and investment and commercial banks. 

Debt capital solutions for life sciences companies

Morisoli will focus on investments in the life sciences industry, structuring flexible debt capital solutions for borrowers that will enable them to stay focused on achieving their business goals, Runway said in a statement.

The life science ecosystem is complex, the company notes. That makes it important to understand the challenging journey from concept to commercialization. 

Fueling life science with minimally-dilutive venture debt

Runway Growth Capital, which has a tagline of “the other growth capital,” looks for life science companies at the forefront of clinical development and healthcare innovation—those that are advancing medical treatments and improving patient outcomes.

Its capital can help companies focus on those outcomes, Runway says. A typical loan amount is $10 to $75 million and proceeds are typically used to extend runway, fuel growth, refinance other debt, and fund acquisitions, according to the company.

Morisoli will report directly to Life Sciences Managing Director Igor DaCruz.

“Life sciences continues to be a strong area of focus for Runway. Brannon’s sector expertise, origination experience, and vast life sciences network, makes him an ideal fit to continue growing the practice,” DaCruz said in a statement.

Morisoli will be responsible for “identifying life sciences companies that can benefit from debt to bolster their balance sheet and fuel growth,” the life science MD said.

Morisoli joins the life science team amid a boom in DFW

Morisoli was attracted to Runway for its “rapid growth, strong brand, and reputation for being a great partner,” he said, noting the strong life science foundation in place. He joins the life science team at a time when life science is booming in North Texas. Most recently, Dallas-Fort Worth ranked for the first time in the “Top 20 U.S. metros for life science” 2022 report by CommercialEdge. 

Morisoli was previously a director at SWK Holdings, where he focused on providing innovative capital solutions to a broad range of healthcare and life science companies.

Prior to that, he was an investment analyst for Presidium Group, where he played a key role in closing over $100 million in transactions for the real estate PE firm.

Morisoli, an industry with working knowledge of the life sciences and medical devices space, started his career as a research associate where he was published in leading neurology journals. He also gained operations experience while serving as the Marketing Services Manager at Neurografix, a venture-backed medtech startup.

Boston managing director of tech also named

Beyond life sciences, Runway Growth Capital also serves the technology and consumer industries. 

The company also announced a new managing director of technology. Ted Cavan will operate out of Boston and also report to DaCruz. Cavan will work with late and growth-stage technology companies, focusing on enterprise software, according to the company.

A partner to entrepreneurs

Runway Growth Capital LLC, founded in 2015 by, industry veteran David Spreng, is an investment advisor to investment funds. Per the company, those include Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds that are lenders of growth capital to companies wanting an alternative to raising equity.

Runway works with fast-growing companies based in the United States and Canada. Since inception, the firm has funded 61 companies and has made $1.8 billion in loan commitments, to date.

Quincy Preston contributed to this report. 

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