Broncus inhales $38M to treat lung disease, eyes IPO
Broncus Technologies, developer of devices to treat emphysema and other lung ailments, may make a second run at going public after bringing in $38 million in seventh-round funding to break even, reports VentureWire. The Mountain View, Calif. company first filed for a $75 million IPO last November, but withdrew in June due to the flagging lifescience market.
Resuscitated in July with $10 million in debt financing from Western Technology Investment, Broncus plans to release two cancer-fighting… Continue Reading
Pathwork Diagnostics raises $20M for cancer diagnostic tests
Pathwork Diagnostics, a Sunnyvale, Calif.-based maker of cancer diagnostic tets, has raised $20 million in a second round of funding. The round was led by new investor Abingworth Management, with participation from existing backers Advent Venture Partners, Novus Ventures, Prospect Venture Partners, Venrock and Versant Ventures. Pathwork previously raised $11 million.
Broncus Technologies lines up venture debt financing for emphysema treatment
Broncus Technologies pulled its initial public offering plans last week and now intends to line up venture debt financing, VentureWire reported.
Mountain View, Calif.-based Broncus is developing a minimally invasive treatment for emphysema. It filed to go public in November but withdrew its IPO plans because of weak market conditions. Kenneth Haas, a Broncus board member and partner with Broncus investor Abingworth Management, said a venture round will give it more flexibility in case the next… Continue Reading
Life sciences briefing: Wednesday, Jan. 9, 2008
TODAY’S HEADLINES:
MRI image-analysis firm Confirma receives $18M (release)
Specialty pharma Zogenix raises $18M (release)
Arcion pulls in $8.8M for topical pain gel (release)
Bayhill Therapeutics files for $87M IPO (Edgar)
Peakdale Molecular, chemistry-services provider, raises £1M (release)
Radiopharmaceutical maker Cellectar draws in $13M (release)
Critical-care drug maker Ikaria names Daniel Tasse as CEO (release)
Noxxon Pharma appoints Frank Morich as CEO (release)
MRI image-analysis firm Confirma receives $18M –Confirma, a Bellevue, Wash., developer of automated systems for medical-image analysis, received $17.5 million in… Continue Reading
Life sciences briefing: Wednesday, Oct. 31, 2007
Featured companies: AerovectRx, Dicerna Pharmaceuticals, Harmony Information Systems, Intelligent Hospital Systems, Merrion Pharmaceuticals, Syntaxin, SymBio Pharmaceuticals
UPDATED: Expanded items on Harmony Info, SymBio Pharma and Merrion Pharma, added Dicerna item.
UPDATE REDUX: Added Syntaxin item.
U.K. biotech Syntaxin raises £16M for pain and nervous-system drugs — Syntaxin, a U.K. biotech focused on drugs that affect cell secretion, raised £16 million ($33.2 million) in a second funding round. The company’s release is here.
Investors in the round included SR One, the venture capital… Continue Reading
Life sciences briefing: Monday, Aug. 20, 2007
(UPDATED at 7:10pm PT: See below.)
Featured companies: NeurAxon, VytronUS, Avila Therapeutics, CardioNet, Ventana Medical Systems, CytoLogix, PlaCor
NeurAxon raises $32M for pain drugs — You have to hand it to Waltham, Mass.-based NeurAxon — the company certainly knows how to keep itself in the news. Today, it announced it has raised $32 million in a second funding round, a week after it reported a positive early-stage trial result for its experimental migraine treatment.
Investors included Delphi Ventures, OrbiMed Advisors,… Continue Reading
Gynesonics, a device-maker for uterine fibroid tumors, raises $16.5M
Gynesonics, a Menlo Park company focused on making medical devices for women’s health, has raised $16.5 million in a second round of financing.
The company is developing a device to treat uterine fibroid tumors. The company’s statement is here.
The financing was led by Advanced Technology Ventures, and included InterWest Partners and Abingworth Management. The company said Tom Rodgers of Advanced Technology Ventures and Linda Grais, MD of InterWest Partners have joined its board of directors.
From the… 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.