VentureBeat

TODAY’S HEADLINES:

• Teva acquires protein-therapeutic maker CoGenesys for $400M (release)
• ViewRay takes in $25M for MRI radiation-therapy guidance (release)
• NovaMed, Chinese clinical-research outfit, receives $14M (release)
• Progentix Ortho raises first funding round (release)
• Medical imaging co. Point Biomedical recaps with $25M (VentureWire)
• Lumidigm takes in $7M for optical-fingerprint ID systems (VW)
• Medical-software co. Compressus aims to close $14M round (VW)
• Channel Medical Partners aims for $150M med-tech fund (VW)
• Spinal-implant maker Scient’x names Michael Huggins as CEO (release)
• Specialty pharma Cardiokine names Manuel Worcel as CEO (release)
• Respiratory-disease co. Pulmatrix appoints Robert Connelly CEO (release)

Teva acquires protein-therapeutic maker CoGenesys for $400M — CoGenesys, a Rockville, Md., protein-drug biotech spun out of Human Genome Sciences in 2006, has been acquired by Israel’s Teva Pharmaceutical Industries for $400 million in cash. The companies’ joint release is here.

CoGenesys, like its former parent HGS, is focused on the development of protein and peptide drugs for a variety of conditions. The company’s two lead drug candidates aim to treat neutropenia, a depletion of white blood cells that puts people at risk of serious infection, and heart failure.

Teva said the acquisition advances its recently revised strategic goal of pursuing biotech drugs (”biopharmaceuticals”) and generic biologics (”biogenerics”). It’s not entirely clear whether Teva is interested in pursuing CoGenesys’ actual drug pipeline or simply putting its manufacturing technology to use in Teva’s existing international biogenerics business. No biogenerics have been approved for use in the U.S.

ViewRay takes in $25M for MRI radiation-therapy guidance — Gainesville, Fla.-based ViewRay, a developer of MRI-based cancer-radiation systems, raised $25 million in a second funding round. Investors included OrbiMed Advisors, Fidelity Biosciences, Aisling Capital and Kearny Venture Partners.

ViewRay claims its system will be the first to offer real-time “volumetric” imaging of tumors concurrent with radiation treatment, which ostensibly allows radiation oncologists to compensate for organ movement. The funding will go for additional staff and the manufacture and validation of advanced prototypes of the system. Our previous coverage of the company is here.

NovaMed, Chinese clinical-research outfit, receives $14M — NovaMed, a Chinese startup that performs outsourced commercial and clinical-trial management for Chinese and international drug companies, raised $13.8 million in a second funding round. Investors included Fidelity Asia Ventures, its US affiliate, Fidelity Biosciences, and Atlas Venture.

Founded in 2005 by a former AstraZeneca executive and a Chinese Internet entrepreneur, NovaMed essentially acts as a middleman for companies with drugs they’d like to sell or test in China. Depending on the client, NovaMed says it will do everything from running clinical trials and shepherding drugs through the Chinese regulatory process to manufacturing, distributing and selling pharmaceuticals.

The company had previously raised roughly $6 million. NovaMed said it will use the new funding to expand its operations and also to in-license new drugs for deveopment or sale in China.

Lumidigm takes in $7M for optical-fingerprint ID systems — Lumidigm, an Albuquerque, N.M., developer of multispectral fingerprint scanners, raised $7 million in a third funding round, VentureWire reports, citing a regulatory filing. Investors included Epic Ventures led the round, joined by new investor Sun Mountain Capital and existing investors Fort Washington Capital Partners, Motorola Ventures, Draper Fisher Jurvetson New England and Intel Capital. Lumidigm’s technology aims to read fingerprint information both from the skin surface and from subsurface layers to improve accuracy and foil attempts to spoof the technology.

Medical-software co. Compressus aims to close $14M round — Compressus, a Washington, D.C., software maker whose products link hospitals and doctors to government agencies for public-health monitoring and emergency response, is looking for an additional $1.3 million to close out a $14.3 million third funding round, VentureWire reports. The company, which was founded by three lobbyists, has so far raised more than $27 million from angel investors.

Channel Medical Partners aims for $150M med-tech fund — Channel Medical Partners, a Skokie, Ill., VC firm focused on medical-device investments, aims to raise a $150 million second fund, VentureWire reports. The new fund would be more than triple the size of its $40 million initial fund, raised in 2001. Channel aims to fund 12 to 15 startups with the new cash, and will concentrate on device firms, although it is open to investing in diagnostics, drug delivery and “specialty supply” companies as well.

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 oxide synthase, produces positive early-stage data.

Ultrasound scanner TechniScan wins $1.7M grant extension — Salt Lake City’s TechniScan Medical Systems, a maker of ultrasound breast-imaging systems for cancer diagnosis in conjunction with mammography, said the NIH had extended a small-business innovation grant for another year to the tune of $1.7 million. The total grant will now amount to $2.8 million. TechniScan has raised approximately $20 million from angels and venture investors.

Real-time imager ViewRay raises $3M — ViewRay, a Gainesville, Fla., developer of real-time imaging systems, raised $3 million in a first funding round, VentureWire reports. Individual investors provided the funding. ViewRay’s technology combines an MRI scanner with a gamma-ray radiation treatment system to provide real-time imaging during cancer radiation treatment.

Lab-tools maker Advion BioSystems acquires NanoTek — Advion BioSystems, an Ithaca, N.Y., developer of “lab-on-a-chip” microfluidics systems, acquired Knoxville, Tenn.-based NanoTek. Terms of the deal weren’t disclosed. Advion has raised a total of roughly $17 million in venture funding, according to VentureWire.

Pipette cleaner Cerionx raises $2.5M in debt — Exton, Pa.-based Cerionx, a manufacturer of pipette-cleaning systems, raised $2.5 million in debt financing from BlueCrest Capital Finance, VentureWire reports. The company’s devices clean pipettes without the use of solvents, employing instead an electric field that atomizes remaining organic debris on pipette tips.

Microscopy company Ionscope raises $1.4M — Ionscope, a London-based developer of new scanning ion conductance microscopy technology, raised $1.4 million (£680,000) from individual investors of the Cambridge Angels Group. The company’s technology can allegedly image live cell membranes at resolutions up to 50 times greater than possible with existing technology.

Encore Path raises $500K for stroke rehabilitation — Encore Path, a Baltimore developer of training devices to assist in the rehabilitation of stroke patients, raised $500,000 in seed funding, VentureWire reports. Investors included the Maryland Venture Fund of the state’s Department of Business and Economic Development and the Maryland Technology Development Corp., as well as angel investors and friends and family. The company was originally founded in 2006 as NewRegen with a focus on neural rehabilitation for stroke patients. Now Encore Path is developing a training device for restoring arm movement, and hopes to raise a larger first round next year when that device launches.