Life sciences briefing: Wednesday, Oct. 3, 2007
Featured companies: Aveo Pharmaceuticals, Aviir, deltaDot, Origen Therapeutics
Heart-diagnostic maker Aviir raises $11.3M — Palo Alto, Calif.-based Aviir, a biotech developing cardiovascular diagnostics based on Stanford research, raised $11.3 million of an expected $25 million second funding round, PE Hub reports. The news is presumably from one of those paper-based SEC filings that are supposed to be digitized before long.
Investors include Bay City Capital, Aberdare Ventures and New Leaf Ventures. Aviir hasn’t said much about its technology… Continue Reading
Life sciences briefing: Tuesday, Oct. 2, 2007
Featured companies: Change:healthcare, Gemin X Biotechnologies, Ipsogen, the Practice
Change: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… Continue Reading
Life sciences briefing: Wednesday, Sept. 26, 2007
Featured companies: Ablynx, Cardiosolutions, Carigent Thereapeutics, Elusys, Genome Corp., GlobeImmune, Novazone, Targanta Therapeutics, Waterfront Media
UPDATED at 5:45am on 9/27/07
GlobeImmune raises $41M for immune-system therapies — GlobeImmune, a Louisville, Colo., biotech focused on new forms of immunotherapy to treat viral infections and cancer, raised $41.2 million in a third funding round. Investors included Wexford Capital, Celgene, the Mellon Family Investment Company, the Richard King Mellon Foundation, Eminent Venture Capital, Boston Life Science Venture, WRF Capital, HealthCare Ventures,… Continue Reading
Life sciences briefing: Monday, Sept. 24, 2007
Featured companies: Adnexus Therapeutics, Bristol-Myers Squibb, Cellerix, Elixir Therapeutics, GenomeQuest, Intronn, JapanBridge, JenaValve, VirXsys, Ysios Capital
[NOTE: This item is a catchup daily briefing originally posted on 9/27/07. I've edited the item's timestamp to preserve the chronological order of the briefings. --D.P.H.]
Adnexus Thera cancels IPO, sells itself to Bristol-Myers for $430M — Waltham, Mass.-based Adnexus Therapeutics, a biotech pursuing drugs against cancer and other diseases, said it would cancel plans for its IPO and instead sell… Continue Reading
Life sciences briefing: Monday, Sept. 10, 2007
Featured companies: BioVascular, Carefx, ClinResearch, Healthcare Management Directions, NanoCor, OxyPlus, Revitus, Spotlight Surgical, United BioSource
UPDATED: See below.
Healthcare IT provider Carefx pulls in $17.9M — Carefx, a Scottsdale, Ariz., provider of hardware and software that “aggregates” patient records, has raised $17.85 million in a third funding round, Private Equity Hub reports, citing a regulatory filing. Investors included Carlyle Venture Partners and UV Partners.
Carefx’s pitch is basically the same as that from any system integrator — a term guaranteed… Continue Reading
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… Continue Reading
Life sciences briefing: Friday, Aug. 24, 2007
(UPDATED at 11am PT on Sunday, 8/26/07: See below.)
Featured companies: Clinical Data, Epidauros Biotechnologie, Precision Therapeutics, UMD, Zars Pharma
UMD to close $8M for menstrual pain and osteoporosis — Cincinnati’s UMD, a developer of vaginal drug-delivery technologies, expects to close up to $8 million in a fifth funding round, VentureWire reports (subscription required). The company has backing from an undisclosed new investor, and expects former investors Charter Life Sciences and Asset Management to join the round.
UMD is developing… Continue Reading
Life sciences briefing: Thursday, Aug. 23, 2007
(UPDATED at 6:30am PT on Friday: See below.)
Featured companies: DNA2.0, Globus Medical, Inotek Pharmaceuticals, Operon Biotechnologies, PleuraFlow
Globus Medical raises $110M for spinal implants — Globus Medical, an Audubon, Pa., developer of spinal implants, raised $110 million in a fifth financing round. Investors included Clarus Ventures, AIG SunAmerica and other large, institutional private-equity funds.
Some have called this the largest venture-capital funding of the year — by a grand total of $1.65. That’s one dollar and sixty-five cents. No… Continue Reading
Life sciences briefing: Tuesday, Aug. 21, 2007
(UPDATED at 7:40pm PT: See below.)
Featured companies: Adnexus Therapeutics, BioForm Medical, Confirma, Cardiovascular Systems, Mirabilis Medica, Neuromed Pharmaceuticals, PlaCor, Seno Medical Instruments, Vibrynt
BioForm Medical files $115M IPO for “medical aesthetics” — BioForm Medical, a San Mateo, Calif., developer of wrinkle fillers and other products for cosmetic procedures, filed to raise $115 million in an initial offering. BioForm’s major customers are plastic surgeons and dermatologists.
BioForm, however, takes pains to describe itself differently on its Web site…. Continue Reading
Life sciences briefing: Thursday, Aug. 9, 2007
(UPDATED at 6:40pm PT: See below.)
Featured companies: Nereus Phramaceuticals, KFx Medical, NeuroMed Pharmaceuticals, Adnexus Therapeutics, Masimo, Biofisica, Aegera Therapeutics, LymphoSign, InfuScience, Palmetto Infusion Services
Nereus Pharma raises $45M for ocean-derived cancer drugs — San Diego’s Nereus Pharmaceuticals, a biotech that searches for cancer drugs in marine microbes, raised $45 million in a follow-on to its fourth funding round.
The company features an all-star lineup of investors, which includes BankInvest, Roche Venture Fund, Astellas Venture Management, Boston Life Science Venture… Continue Reading
Life sciences briefing: Wednesday, Aug. 8, 2007
Featured companies: NeurAxon, TechniScan Medical Systems, ViewRay, Advion BioSystems, NanoTek, Cerionx, Ionscope, EncorePath
NeurAxon to raise $25M for pain treatment – Waltham, Mass.-based NeurAxon, which just named Lawrence Bloch as its new CEO last week, now plans to raise $25 million in a second funding round this quarter, VentureWire reports (subscription required). The round is slated to wrap up when — and if — the company’s lead drug, a migraine treatment that targets an enzyme called neuronal nitric… Continue Reading
Celator: Combining chemo drugs for fun and profit
(UPDATED: See below.)
Is there a better way to combine drugs in cancer chemotherapy? Celator Pharmaceuticals, a Princeton, N.J., venture drug maker that just raised $10 million, aims to find out.
Like Horizon Therapeutics, which we wrote about here, Celator is convinced that combining two existing drugs in a single formulation at the right proportions can yield better results than current treatments. Although many chemo drugs are already used in combination, the drugs that can be used this… Continue Reading
Agensys pulls in $41M for cancer drugs
Santa Monica, Calif.-based Agensys, a biotech focused on new cancer drugs, raised $41 million in a fourth funding round. Duquesne Capital Management and JAFCO led the round, joined by Innovis Investments, Nextech Venture, Bear Stearns Health Innoventures, Alta Partners, HBM BioVentures, Lombard Odier Darier Hentsch & Cie, H&Q Life Sciences Investments, and Orbimed Associates.
Agensys develops monoclonal antibodies designed to target surface proteins or other molecules that specifically identify tumor cells. Its first drug candidate, AGS-PSCA,… Continue Reading
IPO still on hold, Light Sciences beams up $30M
Snoqualmie, Wash.-based Light Sciences Oncology, a developer of light-activated cancer drugs, raised $30 million in a second funding round, even though it still has an IPO registration on file with the SEC. The latest funding closes out the company’s second round, which includes a $15 million investment by Fidelity Investments I wrote about here.
The company didn’t name its latest investors in its press release, but according to VentureWire they include Lehman Brothers, the hedge fund… Continue Reading
Reata Pharma draws $25M for cancer and inflammation drugs
Irving, Texas-based Reata Pharmaceuticals, a biotech working on new drugs to treat cancer and inflammation, raised $25 million in a fifth funding round. The round was led by existing investors, including CPMG and Novo A/S.
Aquinox Pharma pulls in $15M for cancer and inflammation
Aquinox Pharmaceuticals, a Vancouver drug developer, raised $14.5 million in a first funding round. Ventures West Capital led the round, joined by Johnson & Johnson Development Corp., Baker Brothers Investments and BC Advantage Funds.
Aquinox is developing drugs that inhibit a newly discovered enzyme called SHIP (for more detail, see here) that appears to play an important role in blood cancers and inflammatory diseases. The company’s lead drug candidate, AQX-MN100, is still in animal testing.
IRX Therapeutics raises $12.5M for cancer drugs
New York’s IRX Therapeutics, a developer of drugs designed to stimulate the immune system against viruses and cancer, raised $12.5 million in a second convertible note offering. The investors were mostly private individuals, including Frank Loverro, managing director of the New York private-equity firm Kelso & Co., and other members of the firm, according to VentureWire (subscription required).
IRX has so far raised more than $35 million, including a prior $12.5 million convertible-note round. The company’s… Continue Reading
Nanopharmaceutical maker Tempo Pharma picks up $12M
Tempo Pharmaceuticals, a Cambridge, Mass., developer of new-drug formulations, raised $12.1 million in a first funding round. The company, which touts itself as a “nanopharmaceutical” maker, aims to improve the safety and effectiveness of existing drugs using engineered nanoparticles designed to home in on particular organs or tissues, then release two or more drugs in sequence. Tempo initially plans to focus on cancer.
Venrock and Polaris Venture Partners led the round, joined by Lux Capital and… Continue Reading
Light Sciences Oncology, IPO on hold, raises $15M
Light Sciences Oncology, a Snoqualmie, Wash., developer of light-activated cancer drugs and delivery systems, raised $15 million in a second venture round despite having an IPO on file with the SEC, VentureWire reports (subscription required). Fidelity Investments provided the funding.
The company’s lead product is Litx — a combination of a normally inert drug that is activated when exposed to specific wavelengths of light and a flexible light-emitting diode that can be inserted into solid tumors… Continue Reading
Cogent Health, maker of healthcare IT systems, raises $3M
Cogent Health Solutions, a Vancouver-based provider of computerized systems for managing cancer care, raised $3 million in its first funding round. Yaletown Venture Partners led the deal, joined by angel investors.
Cogent’s Web-based system aims to help cancer, nutrition and counseling specialists better manage the long-term care of cancer survivors, who often face daunting health and lifestyle challenges following cancer treatment that frequently includes surgery and toxic radiation or chemotherapy. The system is designed to track… Continue Reading