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Triathlon Medical Ventures






We are experienced venture investors who have all also worked in life sciences companies, with over 75 years of combined relevant experience. With that experience comes established networks of people throughout the life science and medical technology industries, as well as in venture capital that we can draw upon to assist our portfolio companies. We are highly collaborative, valuing our complementary knowledge and skills.

Dennis B. Costello

Dennis is co-founder and Managing Partner of Triathlon Medical Ventures in Cincinnati. Dennis brings more than 30 years of industry experience in both therapeutics and medical devices to Triathlon. Dennis was with Senmed Medical Ventures from 1996 to 2003 where he originated and managed early and later-stage investments and provided general management for Senmed's start-up investments.

Prior to joining Senmed in 1996, he served in general management and senior marketing and business development positions for both large public and small private life science companies including American Critical Care (a division of American Hospital Supply Corporation), Clonetics Inc, Regent Hospital Products and Hana Biologics.

Dennis holds a BS from the U.S. Naval Academy and an MBA from The Harvard Business School.


Suzette Dutch

Suzette Dutch, Managing Partner of Triathlon Medical Ventures, has 20 years venture investing and 10 years operating experience in pharmaceuticals, surgical devices and diagnostics. At Senmed she served on the investment committee from its creation in 1987 and led the strategic planning, clinical/regulatory, market and business development due diligence efforts for start-ups through later stage investments. Previously she was responsible for strategic marketing for Sentron’s surgical stapling business until its sale to Ethicon. Prior to that she held various positions in clinical studies design, market research, and corporate planning at SmithKline integrating the acquisitions of Allergan, Beckman, and Clinical Laboratories. She has an MBA from Wharton in Finance and Decision Science, and a BA in economics from Case Western Reserve University.

John M. Rice, Ph.D.

John is a co-founder and Managing Partner of Triathlon Medical Ventures based in Cincinnati. He has 25 years of venture investing and 13 years of research and R&D management experience in biomedical science. As a published scientist and inventor, John lends his scientific and business expertise to the assessment and management of Triathlonís investments. He has strong relationships in the scientific community from the 26 years he spent in biomedical research and R&D management at Battelle and Senmed.

John was a Managing Director of Senmed Medical Ventures from 1989 until 2003. He also led the emerging medical technology investment practice. Previously, John spent 13 years with Battelle Memorial Institute serving in various research, research management, and business development capacities. John is a member of the Boards of Aerpio Therapeutics and Chaiman of Airway Therapeutics.

John is a member of the board and past chair of BioOhio, Member of the Board of the Global Cardiovascular Innovation Center at the Cleveland Clinic, Chairman of the Investment Advisory Board of the Harrington Discovery Institute, the Industry Advisory Board of the Case - Coulter Partnership at Case Western Reserve, CincyTech Advisory Board, Innovation Fund Board at Children's Hospital Medical Center, and the Board of Trustees of Edison Biotechnology Institute of Ohio University. He has authored numerous scientific publications and holds patents in the fields of virology and immunology.

John earned BS, MS and PhD degrees in Microbiology and Virology from The Ohio State University.


Carrie Bates

Carrie Bates, Managing Partner of Triathlon Medical Ventures, has over 20 years of venture and operating experience, with a focus on medical devices and pharmaceuticals. At Guidant Corporation she ran Compass, Guidant’s venture group. Prior to that, she held various senior management operating positions at Guidant and Eli Lilly. She has an MBA from Stanford, a BS in Finance and a BS in Computer Science, and is a CPA.


George Emont (1958 - 2013)

Our partner, George passed away suddenly September 28, 2013 in Louisville. He was 55. George joined Triathlon Medical Ventures at its inception and has been a valued friend and colleague ever since. He was a partner in the truest sense contributing his insight, experience and passion to our mutual endeavor. We were not only a business family but family of friends sharing all of the joys and sorrows of our families lives as well. George will be sorely missed.

George was born in Granville, OH in 1958. He was a graduate of Oberlin College and received an MBA from the University of Chicago. George was a managing partner of Triathlon Medical Ventures as well as Kentucky Seed Capital Fund. He was a thoughtful and exceptionally kind man whose quiet nature belied a brilliant mind. George was a wonderful husband and an extraordinary father. His family will remember him always for his good humor, his amazing cooking, his "bad" jokes, his love, and support.

Randy H. Weiss, Ph.D

Randy is a Partner with Triathlon Medical Ventures and Managing Director of Start-up St. Louis, LLC.

Start-up St. Louis provides services to early-stage biomedical companies, investors, and research institutions. Randy is also a member of the St. Louis Arch Angelsí investor group and serves as an Entrepreneur-in-Residence at the University of Iowa Research Foundation.

Previously, he was Vice President of BioGenerator, a St. Louis-based commercialization center, and helped provide seed investments to five early-stage life science companies, as well as serving on the board of APT Therapeutics. He also served as Vice President and Chief Operating Officer of ABC Laboratories, a pharmaceutical contract research organization. As President of Molecular Strategies, he provided due diligence services to St. Louis area venture capital firms. Randy also served as Executive Vice President of Crown Capital Corporation, an investment banking firm.

From 1987 until 2000 Randy was with Monsanto/Searle until its sale to Pharmacia and served in various research and development roles, including Director of Research & Development and as a co-inventor of technology that was spun-off to MetaPhore Pharmaceuticals, a venture-backed pharmaceutical start-up.

Randy has a Ph.D. degree in Organic Chemistry and an Executive MBA degree, both from Washington University in St. Louis. He was a Robert A. Welch post-doctoral fellow in Biochemistry at the University of Texas Southwestern Medical Center in Dallas. Randy serves as an observer on Kereosí board.


markMark Collar

Mark is a venture partner of Triathlon Medical Ventures in Cincinnati, which he joined in 2008 after retiring as president of Global Pharmaceuticals and Personal Health at Procter & Gamble. Mark brings 15 years of broad-spectrum expertise in the pharmaceutical business — from discovery and development through launch and sales — as well as an invaluable network of industry relationships.

No stranger to the venture capital world, Mark was appointed by the governor and currently is chairman of the Third Frontier Advisory Board, which provides direction for Ohio’s $1.6 billion economic development investment fund, and also is vice chairman of BioOhio, the state’s life science economic development organization. He sits on the board of directors of Ohio-based AtriCure, Inc., is a Trustee and, Member, Executive Committee, of the Health Alliance of Greater Cincinnati, and was appointed by the U.S. Secretary of Health and Human Services to advise the director of the Centers for Disease Control and Prevention.  

In addition, Mark serves on the research committee of the board of trustees for Cincinnati Children’s Hospital.

He is a Wisconsin native, and received his Bachelor’s degree from Northern Illinois University.




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