Life sciences briefing: Tuesday, Oct. 2, 2007

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Featured companies: Change:healthcare, Gemin X Biotechnologies, Ipsogen, the Practice

change-healthcare-logo.jpgChange:healthcare raises $1M for health 2.0 sites — Nashville, Tenn.-based change:healthcare, a provider of Web-based health information, raised $1 million in a first funding round. The investment firm Solidus, also based in Nashville, provided the cash. There’s no release, but the Nashville Business Journal did run this story.

Change:healthcare operates two “health 2.0″ Web sites designed to empower individuals by helping them better navigate the healthcare system. FindYourDoc.com offers a searchable database of doctors and hospitals, while MedBillManager is a fee-based service for helping individuals and families manage a confusing welter of medical bills and insurance statements.

gemin-x-logo.jpgCancer-drug developer Gemin X garners $72.6M — Montreal’s Gemin X Biotechnologies, a biotech developing a variety of cancer drugs, has raised $72.6 million of a planned $114.7 million third funding round, VentureWire reports (subscription required).

The wire service cited a regulatory filing for its report. No investors were reported on that filing, although the company did just appoint Eric Roberts, a managing director of Caxton Advantage, to its board. Understandably enough, such appointments usually reflect the desire of a VC or, in this case, a hedge-fund affiliate, to keep a close eye on a significant investment.

Gemin X develops cancer drugs that, for the most part, interfere or promote the process of programmed cell death, or apoptosis.

Physician-office manager The Practice raises £1.4M — The Practice, a U.K. firm that manages doctors’ offices, raised £1.4 million ($2.9 million). MMC Ventures provided the funding. The proceeds will allow the company to expand its operations.

Ipsogen draws in $3.4M for diagnostic tests — Ipsogen, a Marseille, France, biotech focused on cancer diagnostics, raised $3.4 million, VentureWire reports. Investors included Matignon Technologies, Societe Generale Asset Management, Sofipaca and Connecticut Innovations, which provided $680,000 to help the company’s U.S. subsidiary expand its headquarters in New Haven, Conn. Connecticut Innovations is a quasi-public economic-development agency. The company’s lead product is a diagnostic for leukemia.


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