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Unit of Nextera Joins CMGI and Paul Allen's Vulcan Group In Financing Round of Oncology.com
LOS ANGELES, Dec. 6 /PRNewswire/ -- NetNext, Inc., a subsidiary of Nextera Enterprises, Inc. (Nasdaq: NXRA) formed to make Internet investments, today announced that it has joined @Ventures, the affiliated venture capital arm of CMGI, Inc. (Nasdaq: CMGI) and Paul Allen's Vulcan Ventures in making an investment as part of a $10.5 million round of financing in Oncology.com. This is the second Internet investment NetNext has made since its formation within the last month.
Oncology.com, which is focused entirely on the needs of cancer healthcare professionals, patients, their families and the entire cancer community, is the only on-line resource which offers a daily news network dedicated to providing accurate and unbiased coverage of cancer research, treatment developments and patient care trends written by healthcare journalists.
Other investors in the financing round include Knowledge Health, LLC, an indirect subsidiary of Knowledge Universe; Entertainment Media Ventures, LLC; and ProQuest Investments, L.P. and ProQuest Companion Fund, L.P.
According to Oncology.com, all of the investors in the company have been touched by cancer in some way and share a vision to leverage Internet technologies to improve the quality of cancer care. Existing Angel investors in Oncology.com include Andy Grove, Founder & Chairman of Intel; Avram Miller, Director, CMGI and AltaVista; Paul Stephens, Director, Oncology.com and Founder, Robertson Stephens & Co., and Mark Kvamme, Director, Oncology.com and Founder USWeb/CKS.
All Oncology.com original content is reviewed by the Oncology.com Editorial Advisory Board to ensure accuracy and excellence in content quality. The Oncology.com Editorial Advisory Board is comprised of over 25 leading oncologists from around the world.
Steven Fink, chairman and chief executive officer of Nextera, said that this investment by a subsidiary of the company is one that should yield results for Nextera's shareholders and the public-at-large. "It is extremely gratifying to be able to make an investment in a company like this," he said. "Oncology.com is doing very important work. We are proud to be able to support it and are pleased to be able to join such a distinguished group of investors such as CMGI, Paul Allen, Andy Grove and Paul Stephens in helping to further their goals. We think the potential to improve the quality of life and take important steps in the fight against cancer is enormous, as is the potential for a return on our investment for our shareholders."
Oncology.com said that executives at the company will use the infusion of capital from this round to fund the development of additional site features and resources responding to user requests and community demands. Today, in addition to the daily cancer news network, the site's features include a Personal Diary application, listing and coverage of major cancer events, conferences, meetings and lectures related to cancer. Oncology.com features moderated discussion areas dedicated to building virtual communities around specific cancer types and shared experiences. Other web site features include a comprehensive library and search tools for cancer information including patient education materials, disease practice guidelines, easy-to-understand disease summaries, alternative therapy data, a medical dictionary and drug databases, and a referral center for support groups, cancer centers, foundations, and clinical trials.
About Nextera Enterprises
Nextera Enterprises is an international strategy, human capital and technology firm that specializes in helping clients increase business performance by exploiting strategic opportunities, transforming core business processes, better developing and leveraging human capital and more effectively using the latest developments in information technology by combining extensive expertise in market analysis, strategy formulation, business process redesign, organizational and employee development, and IT design and implementation, Nextera delivers competitively differentiating solutions for clients. The company currently has offices in Lexington, Massachusetts, New York, San Francisco, Chicago, Princeton, Raleigh, Rochester, Los Angeles, Dallas, London, Sydney and Toronto. Additional information on Nextera can be found at www.nextera.com
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