EnteroMedics and its risky obesity device, the latest victims of the IPO haircut
(UPDATED: See below.)
(NOTE: This item was originally published as part of today’s life-sciences briefing.)
EnteroMedics, a St. Paul, Minn., device maker working on a neuromodulation implant for treating obesity, slashed its expected IPO pricing by half, lowering it to a range of $8 to $9 instead of its earlier estimate of $14 to $16. The company’s latest SEC fliing is here; under the new terms, EnteroMedics can raise at most $51.8 million, down from the $92 million… Continue Reading
Life sciences briefing: Wednesday, Nov. 14, 2007
Featured companies: Advanced Bio-Surfaces, Ambit Biosciences, EnteroMedics, Molecular Vision, Skyline Ventures
UPDATED: Expanded items on Skyline Ventures, Ambit, and Molecular Vision, and moved EnteroMedics to a new item here.
Skyline Ventures raises $350M life-sciences fund — Skyline Ventures, a Palo Alto, Calif., VC firm, closed a $350 million fund for healthcare and life-sciences investments. The fund is Skyline’s fifth.
Skyline is unquestionably coming off a hot streak. As it notes in its release, three of its portfolio companies were acquired… Continue Reading
Life sciences briefing: Friday, Oct. 26, 2007
Featured companies: Allozyne, Arteriocyte Medical Systems, Arthrosurface, Bay City Capital, EnteroMedics, OncoVista, Novotech, Power Medical Interventions, Reliant Technologies
UPDATED: Expanded items on Allozyne, Reliant Tech, Power Medical and Bay City Capital.
UPDATE REDUX: Added item on EnteroMedics IPO.
Seattle’s Allozyne draws $30M for new interferon — Allozyne, a Seattle biotech focused on tweaking existing protein-based drugs to improve their properties, raised $30 million in a second round of financing. Investors included MPM Capital, OVP Venture Partners, Amgen Ventures, ARCH Venture… Continue Reading
EnteroMedics plans $86M IPO for obesity-control implants
EnteroMedics, a St. Paul, Minn., developer of obesity-treatment implants, filed to raise up to $86.25 million in an IPO. Its S-1 filing with the SEC is here.
The company is developing a neuromodulation implant called VBLOC that is designed to intermittently disrupt signals sent along the vagus nerve, which regulates many functions of the stomach, intestines and pancreas. Ideally, the implanted device will limit stomach expansion, reduce the frequency and strength of stomach contractions, and induce… Continue Reading