Expect to see start-ups and VCs hit standoff over valuations
When the stock market goes into the dumps, it takes a while for the effects to trickle down to start-ups. That’s because start-ups are often are working away on a project that’s isolated from the larger market — and if they’re lucky, they have money from venture capitalists.
For the start-ups with no angel or VC backing, forget about raising money. They’re going to have trouble immediately. VCs are paying too much attention to their existing… Continue Reading
Biotech venture funding takes a hit, but devices are hot
Venture-capital financing may be at a six-year high, but the picture in life sciences is a mixed one. After a blowout first quarter, second-quarter fundings in biotechnology actually dropped 19 percent, to $1.1 billion, compared to the same period last year, according to data from Dow Jones VentureOne and Ernst & Young. Medical-device investments, however, were on a tear, with VCs funneling more than $1 billion into the sector during the quarter — the highest… Continue Reading
Apnex Medical raises $16.1M for sleep-apnea devices
Apnex Medical, a Minneapolis maker of implants for the treatment of obstructive sleep apnea, raised $16.1 million in a first round of funding. Participants included Domain Associates, New Enterprise Associates, Polaris Ventures Partners and Apnex Chairman Michael Berman.
VentureWire reports that Apnex is using “neurostimulation” technology, presumably involving timed electrical pulses to open upper-throat muscles that can close during sleep and choke off the airway, interrupting breathing for a period of up to 10 seconds —… Continue Reading
CVRx, developer of hypertension-treatment devices, draws in $65M
CVRx, a Minneapolis-based developer of an implantable device for the control of high blood pressure, raised $65 million in a fourth round of funding that will support a “pivotal” clinical trial of the device. The round was led by Johnson & Johnson Development, and also included existing investors New Enterprise Associates, Thomas Weisel Healthcare Venture Partners, InterWest Partners, ABS Ventures, Frazier Healthcare Ventures and SightLine Partners. CVRx has so far raised a total of $125… Continue Reading