Life sciences briefing: Tuesday, Aug. 28, 2007
Featured companies: ProNAi, Rubicor
ProNAi raises $2M for IV cancer drugs — ProNAi, a Kalamazoo, Mich., biotech focused on intravenous cancer drugs, raised $2 million toward a $4 million bridge round, VentureWire reports (subscription required). The company aims to raise a $25 million second round later tihs year. Its investors include Apjohn Ventures, Sigvion Capital, Amherst Fund, Grand Angels, the Michigan Economic Development Corp., the Biosciences Research Commercialization Center and the Michigan Technology Tri-Corridor.
ProNAi develops drugs based on “nucleic acid interference” to fight cancer. Its lead candidate, PNT2258, could enter early-stage clinical trials against skin and prostate cancer later this year.
Rubicor raises $10M in debt for breast-biopsy devices — Redwood City, Calif.-based Rubicor Medical, a developer of devices for taking minimally invasive biopsies of suspected breast tumors, raised $10 million in venture debt. The loan was provided by Comerica Bank and Oxford Finance.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.