IPO roundup: Is the window slamming on life sciences?
It’s sure starting to look that way. News that Archemix, a Cambridge, Mass., developer of aptamer-based drugs, yesterday withdrew its $72.5 million IPO follows closely on the heels of several other recent several other IPO collapses, including those of implantable diagnostic maker Transoma Medical and biotechs Biolex Therapeutics and BG Medicine. (Our coverage is here, here and here.) Transoma, in fact, had set its offering terms just a few weeks earlier. Most everyone, of course,… Continue Reading
Life sciences briefing: Tuesday, Oct. 23, 2007
Featured companies: Apex Radiology, Arcxis Biotechnologies, EKR Therapeutics, Franklin & Seidelmann, Michelson Diagnostics, SensiGen, Vascular Closure Systems
UPDATED: Expanded items on Arcxis, Vascular Closure and Archemix.
Arcxis pulls in $2M for DNA tools — Arcxis Biotechnologies, a Pleasanton, Calif., biotech tool maker focused on analysis of DNA and proteins in biological samples, raised $2 million in a follow-on to its first funding round, VentureWire reports (subscription required). Investors included Kaiser Permanente Ventures and Claremont Creek Ventures.
Arcxis released its first… Continue Reading
Life sciences briefing: Monday, Aug. 13, 2007
(UPDATED: See below.)
Featured companies: FoldRx Pharmaceuticals, Ophthotech, Pevion Biotech, Restoration Robotics, Glide Pharma, Reliant Pharmaceuticals, Nanosphere, SurModics, BioFX Laboratories
FoldRx Pharma to receive $22M against cystic fibrosis — Cambridge, Mass.-based FoldRx Pharmaceuticals, a biotech focused on diseases that result from misfolded proteins, will get $22 million over the next five years from an affiliate of the Cystic Fibrosis Foundation to further its work against the genetic lung disease. The money will be paid as FoldRx meets various developmental… Continue Reading
Biotech financing: Will ImaRx break the IPO slump?
(UPDATED: See below.)
It’s been a long, barren summer for biotech IPOs, but ImaRx, the blood-clot company we featured here, finally managed to bull its way into the public markets. The company, which withdrew an earlier $75 million IPO and lowered its offering price on the current one, finally finally priced its IPO at its most recent target of $5 a share, selling three million shares for an anemic take of $15 million, excepting fees and possible… Continue Reading