Rennovia takes $6 million to turn organic feedstocks into specialty chemicals
While the idea of deriving biofuels from organic feedstocks (corn, sugarcane, switchgrass, for example), has been getting a lot of attention recently, there’s another, even more lucrative side of the business. Many of the same companies working on biofuels have also been converting these materials into biorenewable, sustainable chemicals for various industrial applications. But it’s the core focus of a company called Renovia, which just raised $6 million toward a goal of $12.3 million, according… Continue Reading
TivaMed culls $6M more for stealthy gynecology device
TivaMed, a medical device maker working on radio-frequency-based technology for the gynecology field, has raised another $6 million in a first round of funding — bringing the total of the round to $10 million. Based in Palo Alto, Calif., the company says this financing will help it finish product development in preparation for a commercial launch next year, reports VentureWire.
Based on a 2007 patent filing, TivaMed’s technology will be used to retighten women’s skin following… Continue Reading
Heart drug co. Relypsa gets $10M more to complete trials
Pharmaceutical company Relypsa announced that its investors extended its first round of funding by $10 million to a total $43 million to help it finish phase-two clinical trials on its lead drug candidate, a treatment that could alleviate symptoms of heart failure and chronic kidney disease.
Based in Santa Clara, Calif., Relypsa predicts the phase to close by the end of 2009 and already plans to raise new funds in 2010. The drug being tested treats… Continue Reading
Pearl Therapeutics gathers $8M to treat breathing disorders
Pearl Therapeutics, a Redwood City, Calif.-based developer of inhaled drugs to treat respiratory diseases like COPD and asthma, just landed $8 million in venture debt from Oxford Finance and Silicon Valley Bank to expand its product line.
The company licensed particle-based technology from San Carlos, Calif.-based Nektar Therapeutics to improve inhaled drug targeting and lung distribution, cutting down on negative side effects. So far, it has not disclosed whether its products are in clinical trials or… Continue Reading
Anaphore cultures $25M for protein treatments
Biotech firm Anaphore has raised $25 million in first-round funding to continue development of protein therapies for cancer and immune diseases. The money, which includes $8 million in seed financing received in March, is enough to push a couple of its drugs into clinical trials.
In particular, Anaphore works to create artimers — treatments manufactured from naturally secreted human serum protein. The La Jolla, Calif.-based company says they are more efficient to produce and easier to… Continue Reading
KaloBios tacks on $12M more for engineered antibodies
South San Francisco, Calif.-based KaloBios, a biotech company that raised $20 million just five months ago, has added another $12 million in a second close of its fourth round of venture capital.
KaloBios has three antibody products in development, each of which targets a specific set of diseases. Two of the candidates, KB001 and KB002, have made it to Phase 2 clinical testing.
The new funding was led by Baxter International, one of the world’s largest healthcare… Continue Reading
Engineered antibody maker KaloBios takes on $20M for clinical trials
South San Francisco, Calif.-based KaloBios Pharmaceuticals, which develops non-human antibodies for use in human bodies, has taken $20 million in its fourth round of venture funding.
KaloBios is currently going through seven first- and second-phase clinical trials for two drugs and is working on a third, newer drug. The drugs are aimed at patients with cystic fibrosis and autoimmune disorders like asthma.
Mitsubishi UFJ Capital and Genzyme Ventures co-led the round. Also participating were previous investors MPM… Continue Reading
Pearl Therapeutics ups its first round funding
Pearl Therapeutics, a biopharmaceutical company, has upped its first round of funding to $33.5 million after an additional $18 million investment, according to VentureWire.
New investor Nektar Therapeutics joins all of the company’s previous investors including Clarus Ventures, New Leaf Ventures and 5AM Ventures in this raise.
The Redwood City, Calif.-based Pearl Thera now has $36.4 million including debt funding.
ImmunoNewco: The background story emerges
Just over six weeks ago, we broke the news that 5AM Ventures had plunked $3.3 million into a stealthy biotech it was calling ImmunoNewco, and a few weeks later speculated further that the startup might be engaged in a pharmacogenomic “rescue” of immune-modulating drugs acquired from the low-profile Danish biotech Borean Pharma.
Well, I was largely right — but still partly wrong — about the goings-on at ImmunoNewco. I recently spoke with the company’s new… Continue Reading
Life sciences briefing: Thursday, Feb. 28, 2008
TODAY’S HEADLINES:
RNAi developer PhaseRx gets $4M of a pledged $19M (Seattle Times)
TyRx Pharma, drug-device combo maker, raises $25M (release)
Agennix aims at $40M for cancer drugs (VentureWire)
Starr Life Sciences goes after $1.6M for small-animal vital-signs scanner (VW)
CardioNet sets IPO terms, aims to raise $96M (IPOhome)
RNAi developer PhaseRx gets $4M of a pledged $19M – Investor interest in RNA interference, an ancient cellular mechanism for silencing dangerous genes, continues apace. PhaseRx, a Seattle biotech, has raised $4 million… Continue Reading
5AM Ventures’ stealthy $3.3M, immune-related startup
(UPDATED: See below.)
5AM Ventures has invested $3.3 million in an immunology startup so far known only as ImmunoNewco. Andy Schwab, a co-founder of 5AM, confirmed the investment but declined to provide further details, saying only that “we’re still putting ImmunoNewco together.”
ImmunoNewco — a name that will change once the startup takes shape — is currently based in Menlo Park, Calif., which also happens to be where 5AM is located. The company will focus on immunology and… Continue Reading
Life sciences briefing: Thursday, Jan. 31, 2007
TODAY’S HEADLINES:
5AM Ventures puts $3.3M into stealthy ImmunoNewco (VBLS exclusive)
NewLink Genetics raises $17M for cancer vaccine, immune drugs (VBLS exclusive)
Biochip, stem-cell biotech Minerva Bio ousts CEO Jim Czirr and sues (release)
Sonexa Therapeutics takes $30M for Alzheimer’s treatment (release)
Tissue regenerator Healionics pulls in $1.7M (release)
EGeen, clinical research organization, receives $245K (VentureWire)
Barnvet Labs, HeMemics Bio get $75K apiece from Maryland gov’t (release)
5AM Ventures puts $3.3M into new immune-related startup – I’ve moved this item to a standalone post… Continue Reading
Amgen, Relypsa and the art of the biotech-spinout-startup-restart
(UPDATED: See below.)
A common dilemma in biotech acquisitions is how to keep a startup’s entrepreneurial management happy and productive when they’ve just been assimilated by the Borg. The answer, often enough, is not to bother, and to let them spin out a new company with scientific “leftovers” that weren’t the point of the acquisition in the first place.
That’s more or less what Amgen has just done in launching Relypsa, a new Santa Clara, Calif., biotech just… Continue Reading
Life sciences briefing: Thursday, Sept. 6, 2007
Featured companies: Cyntellect, Lectus Therapeutics, NeoMatrix, Nexstim, Pearl Therapeutics, Proteon Therapeutics, SupplyScape
(UPDATED at 10am PT: See below.)
Airway-disease specialist Pearl Therapeutics raises $15.5M — Redwood City, Calif.-based Pearl Therapeutics, a drug-formulation company focused on respiratory disease, raised $15.5 million in a first funding round. Investors included New Leaf Ventures, Clarus Ventures and 5AM Ventures.
Pearl doesn’t appear to have a working Web site yet, but according to its release, the company aims to treat unspecified airway diseases using “particle… Continue Reading
KaloBios draws in $20M for antibody drugs
KaloBios, a Palo Alto, Calif., biotech antibody-therapeutic company, raised $20 million in a third funding round. The company is developing new drugs based on monoclonal antibodies, which target specific cells or proteins in the body. Its lead candidate, an antibody against granulocyte macrophage colony-stimulating factor, or GM-CSF — a protein that helps regulate the white-blood-cell immune response — is intended to treat a variety of immune-related diseases such as rheumatoid arthritis and asthma.
Lehman Brothers led… Continue Reading
Marcadia Biotech pulls in $15M for hypoglycemia drug
Marcadia Biotech, an Indianapolis biotech focused on diabetes and obesity, raised $15 million in a first round of funding led by Frazier Healthcare Ventures and founding investor 5AM Ventures. Founding investor Twilight Venture Partners also joined the round. The company’s announcement is here.
Marcadia, founded by former execs from Eli Lilly and Guidant, is developing a stable form of glucagon that could be administered to diabetics when their blood sugar drops precipitously, a state called hypoglycemic… Continue Reading
Neurological co. Synosis raises $32.5M
Synosis, a South San Francisco company developing treatments for neurological disorders, said it has raised $32.5 million and has entered a partnership with Roche.
Synosis, which was spun out of an incubator EuroVentures (owned by Versant Ventures), raised its cash from from Versant Ventures, Abingworth Management, 5AM Ventures and Novo A/S. The Roche partnership could lead to development of treatments for schizophrenia, cognitive disorders, Parkinson’s, drug dependency and pain, the company said.
More details here.
5AM Ventures raises $150M venture fund, its second
5AM Ventures, a Menlo Park health care firm, has raised its second venture fund at $150 million and has already funded three companies from it, Managing Partner Andrew J. Schwab told VentureWire (sub required).
Symyx creates new transportation sensor company, Visyx
Symyx Technologies, of Santa Clara, said it has created an independent “spin-out” company to develop sensor technologies.
The new company, Visyx Technologies (no Web site yet), will focus on developing sensors for the transportation and industrial markets, particularly for use in passenger, truck and off-road vehicles, Symyx said in a statement.
Driving the deal was an investment in Visyx by CMEA Ventures, a San Francisco venture firm, which will own a majority of the company. Symyx… Continue Reading
Achaogen, an antibacterial co., raises $26M
Achaogen, a South San Francisco developer of antibacterial compounds, said it has raised $26M in a second round of financing, led by new investor Domain Venture Partners.
All of Achaogen’s first-round investors (5AM Ventures, ARCH Venture Partners, Venrock Associates, and Versant Ventures) participated in the round, it said. The company said it will use the money to advance its lead antibacterial program through clinical proof of concept, and to progress additional programs through preclinical development.
The… Continue Reading