Aviir pumps up with $1M for heart diagnostics
Aviir, the Palo Alto, Calif. company that turned Stanford research into technology used to diagnose heart conditions, has brought in $1 million in equity, debt, rights and securities, according to a filing with the SEC. It adds this amount to $1 million raised in August and $7.8 million in bridge financing secured in January from Aberdare Ventures, Bay City Capital and New Leaf Venture Partners. Before that it raised funds in March 2008 amounting to… Continue Reading
Portaero still looking for $182K to treat emphysema
Portaero, developer of a device used to treat chronic obstructive pulmonary diseases — particularly emphysema — has raised the bulk of its targeted $12 million round of equity, according to regulatory filings. It is still short $182,000. Based in Cupertino, Calif., the company, which lacks a web site, has taken capital from Aberdare Ventures, Novartis Venture Funds and Versant Ventures.
Posit Science raises $5.6M for brain fitness software
Posit Science, one of several companies offering software to strengthen cognitive function and prevent brain deterioration, has raised $5.6 million in a third round of funding to continue product development and ramp up marketing efforts, reports VentureWire (subscription). The San Francisco-based company is coming off its strongest sales quarter yet, but faces a surprisingly crowded field of competition.
Companies like Dakim, Vivity Labs, Lumos Labs and Cognifit have all raised substantial capital in the last year… Continue Reading
Aviir pumps in $7.8M for heart diagnostics
Stealthy biotech firm Aviir just raised a $7.8 million bridge round of financing to last it through the rest of 2009, according to VentureWire. Based in Palo Alto, Calif., the company hasn’t released much information about its actual products — only that its methods may eventually be used to detect early warning signs of heart disease, heart attacks or strokes on the molecular level.
Born out of research conducted in Stanford University labs, the technology will… Continue Reading
Anacor takes $50M to treat fungal infections
Anacor Pharmaceuticals, a Palo Alto, Calif. firm working on topical treatments for fungal infections in nails, just got a $50 million infusion in a fifth round of funding. This is pretty good news for a company that had to withdraw its IPO filing just two weeks ago due to poor market conditions.
This brings its total capital raised to $87 million, but the recent money is a big jump from the $5 million fourth-round it raised… Continue Reading
Drug developer Anacor cancels IPO plans
Biotech firm Anacor Pharmaceuticals has withdrawn its filing to go public after an arduous 16-month wait (unprecedented for health care enterprises, reports VentureWire). The Palo Alto, Calif.-based company says the market is not optimal to hit its target of $57.5 million in the sale.
Anacor, currently working on a therapy to treat nail fungal infections, had earmarked $49 million of that sum for further research and development of its lead drug candidate. It had already struck… Continue Reading
Nevro raises $22 million for pain therapy
Nevro Corp. has raised $22 million in a first round of funding. The Palo Alto, Calif. company is conducting clinical trials for its neuromodulation therapy for chronic pain. New investor Accuitive Medical Ventures joined return investors Aberdare Ventures, Bay City Capital, Mayo Clinic, MPM Capital and Three Arch Partners. Nevro raised a $5.5 million seed round in 2006.
Life sciences briefing: Friday, Feb. 15, 2008
TODAY’S HEADLINES:
Q Thera takes in $15M for neural stem-cell treatments (release)
Stroke clotbuster Concentric Medical withdraws IPO (IPOhome)
Avera recaps with $9M to relaunch human tests of GI drug (VentureWire)
Tissue repairer Nerites raises $5.7M (release)
Semafore Pharma aims for $7.5M to launch new cancer-drug trials (VentureWire)
Triage Wireless gets $6.7M for “cuffless” blood-pressure monitors (peHUB)
MAKO Surgicals prices IPO, falls in first day of trading (WSJ)
ImmunoCellular acquires assets of Molecular Antibody Technology (release)
Q Thera takes in $15M for neural stem-cell… Continue Reading
Life sciences briefing: Wednesday, Oct. 3, 2007
Featured companies: Aveo Pharmaceuticals, Aviir, deltaDot, Origen Therapeutics
Heart-diagnostic maker Aviir raises $11.3M — Palo Alto, Calif.-based Aviir, a biotech developing cardiovascular diagnostics based on Stanford research, raised $11.3 million of an expected $25 million second funding round, PE Hub reports. The news is presumably from one of those paper-based SEC filings that are supposed to be digitized before long.
Investors include Bay City Capital, Aberdare Ventures and New Leaf Ventures. Aviir hasn’t said much about its technology… Continue Reading
Ablation Frontiers raises $22M for treating arrythmia
Ablation Frontiers, a Carlsbad, Calif., developer of devices for treating irregular heartbeats known as cardiac arrythmias, raised $21.8 million in a third funding round. The Novartis Venture Fund led the round, joined by Affinity Ventures, Hexagon Investments, Trellis Health Ventures, Versant Ventures, Aberdare Ventures, and Pequot Ventures.
Ablation Frontiers apparently aims to use radio energy, directed by a catheter, to burn away malfunctioning heart tissue that contributes to arrythmia. The company’s Catheter Ablation System has been… Continue Reading
Inflammation drug maker Conatus Pharma completes $27.5M round
Conatus Pharmaceuticals, a San Diego developer of drugs for inflammation and liver disease, closed a $22 million private placement that brings its first round of funding to $27.5 million. Investors included Aberdare Ventures, Advent Venture Partners, Bay City Capital, and Gilde Healthcare Partners.
Conatus was founded by former executives of Idun Pharmaceuticals in mid-2005 after Pfizer acquired their company. The funding will support mid-stage clinical trials of its lead compound, CTS-1027, for liver disease. The first… Continue Reading
Neuro-modulation device company, NBI Development, raises $5.5M
NBI Development, a San Francisco medical device company focused on neuro-modulation therapies, has raised $5.5 million in first-round funding, according to PE Wire. Three Arch Partners and Bay City Capital co-led the deal, and were joined by MPM Capital, Aberdare Ventures, Mayo Clinic and the Venturi Group.