McDermott Legacy Fund

The McDermott Legacy Fund was created as an economic development vehicle to foster and grow bioscience companies in the San Antonio area, provide outstanding jobs to local medical and science graduates, and bring highly educated personnel to the city. From 2009 – 2017, the fund invested over $2.4 million. Several of these companies spun out of the local universities in San Antonio. This fund was made possible with support from VelocityTX’s parent company, the Texas Research & Technology Foundation. The Fund is Fully Deployed.

Meet the Companies


Cardiovate focuses in tissue regeneration and repair/replacement of damaged and diseased vasculature. This is done using the patient’s own cells to organize into a viable tissue.

Emtora Biosciences

Emtora Biosciences is a clinical stage life science company developing a novel formulation of rapamycin, eRapa™, for use in preventing the onset and recurrence of cancer. 


An oncology solution company providing products to solve the unmet needs resulting from cancer treatment. While cancer survival continues to improve, side effects remain significant in terms of reduced quality of life and healthcare cost.


HelpSocial is helping companies to bring the capabilities from digital communication channels like social media and messaging applications into the platforms used in customer service centers. 

Invictus Medical

Invictus Medical is dedicated to providing newborns with the chance to meet early health milestones that will positively affect the rest of their lives. Their mission is to secure early healthy development in newborns by providing innovative products, services, and solutions to the healthcare professional and consumer markets. 

InCube Labs

InCube is a multi-disciplinary life sciences lab focused on developing and commercializing breakthrough innovations. InCube seeks to understand the biggest challenges in healthcare and develop innovative and effective treatment solutions that have the potential to improve the lives of millions of patients. 

Metric Medical Devices

Metric Medical Devices, Inc. is a medical device company in the orthopaedic extremity market. Their mission is to be the world leader in the development and commercialization of products to advance the musculoskeletal repair standard of care through the development and commercialization of internal bone fixation implants that speed healing and minimize non-healing. 

OtoNexus Medical Technologies

OtoNexus is developing the world’s first medical device to provide objective diagnostic data to instantly and accurately diagnose middle ear infections (Otitis Media) in children and adults. A simple and elegant solution, the device applies a well-known medical technology, ultrasound, in a completely novel way to achieve a key advance in differentiating when and when not to prescribe antibiotics. 


Based in San Antonio, Parlevel Systems is the top-to-bottom provider of innovative vending technology tools for the food and beverage industries, including vending, micro market, and coffee, tea, water, and other delivery service providers. Founded by successful vending and technology professionals, Parlevel is dedicated to delivering an array of powerful yet easy-to-use technology solutions that empower operators with enhanced control and accountability of their business anywhere, anytime, and from any device. 


StemBioSys is proximate to the University of Texas Health Science Center San Antonio (UTHSC-SA) from which they have licensed proprietary and disruptive technology for the enhanced isolation, growth and delivery of stem cells or other difficult to culture cells for research, diagnostic and therapeutic applications. 

Targeted Technology

The Targeted Technology Funds are focused on investing in life science companies that have the opportunity to advance groundbreaking or disruptive technologies and which have the potential to significantly improve the outcomes for patients with significant medical conditions. 

Incubator Program

The Incubator Program is designed to scale early-stage bioscience companies by providing long-term support and includes office and meeting space, access to industry experts, mentors, and more.

CEO Roundtable

The CEO Roundtable is an exclusive membership program that brings together executives from non-competing bioscience and healthcare companies to foster innovation, collaboration, and connections.