Fortinet buys assets from Ethernet co. Woven
Network security company Fortinet has acquired fabric Ethernet provider Woven Systems to boost the efficiency and speed of its offerings, reports PE Hub. Santa Clara, Calif.-based Woven’s claim to fame is that it makes some of the smallest and densest 10-gigabit network switches in the world, competing with Force10 Networks and even Cisco Systems. This switching power will help Fortinet scale its own security provisions, the Sunnyvale, Calif., company says.
Woven Systems raised $35 million in… Continue Reading
Eureka strikes $6M for cancer antibodies
Drug developer Eureka Therapeutics brought in $6 million in second-round financing to continue development of antibodies used to treat cancer, VentureWire reports. Harbinger Venture Management led the round, with contributions coming from Acorn Campus Ventures and Desert Spring Life Science Capital.
The Emeryville, Calif.-based company also conducts outsourced antibody research services for other firms. It previously raised $1.6 million in a 2006 first round of funding.
Life sciences briefing: Tuesday, Aug. 7, 2007
(UPDATED at 12:30pm PT — see below.)
Featured companies: Capnia, AutekBio, Novacta Biosystems, XLHealth, Leprechaun, Agility Healthcare Solutions, AM Pharma, Milestone Pharmaceuticals, ChanTest
Capnia names former Alza head as CEO – The tiny Palo Alto, Calif., biotech Capnia hired Ernest Mario, a storied figure in the pharma/biotech world, as its CEO. Mario was most recently chairman — and previously CEO — of Reliant Pharmaceuticals, but he’s best known for running drug giant Glaxo (now GlaxoSmithKline) and, immediately thereafter, helming Alza… Continue Reading
Optovue, an ocular disease treatment co., raises $10.5M
Optovue, a Fremont, Ca. maker of devices that improve diagnosis and treatment of ocular disease, has received $10.5 million in second round of funding, the company announced said.
Based on high speed and high resolution Fourier-Domain OCT technology, the products help with retina conditions such as macular degeneration, diabetic retinopathy, glaucoma, and other macular diseases.
Trevi Health Ventures led the round, which also included Acorn Campus Ventures, HNQ Asia Pacific, Harbinger Venture Management, iD SoftCapital and other… Continue Reading