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 …

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.…

Cancer-drug maker Aveo raises $53M

Aveo Pharmaceuticals, a Cambridge, Mass. cancer-drug company, raised $53 million in a fourth round of funding from a coalition of mostly blue-chip life-science investors.

New investors included Biogen Idec, Bessemer Venture Partners, Merlin BioMed Group, Mitsubishi UFJ Financial Group and …