Pain treatment maker TorreyPines saved by Raptor merger
TorreyPines Therapeutics, maker of pain management medication, has skirted failure through a $1.4 million merger deal with Raptor Therapeutics. The deal dictates that Raptor will become a full subsidiary of TorreyPines, which is publicly traded on the Nasdaq, but the new entity will take on… Continue Reading
PowerGenix gets $30M for electric scooter batteries
Alt-chemistry battery maker PowerGenix has significantly upped its funding with a $30 million fourth round. The company plans to make batteries for electric vehicles, power tools, electronics and other applications.
One of PowerGenix’s most ambitious plans is to crack into the market for electric scooters, which… Continue Reading
PowerGenix hopes to overtake NiMH dominance with alt-chemistry rechargeable batteries
With the market for hybrid electric vehicles (HEVs) finally starting to heat up in earnest, several companies are making big bets on advanced rechargeable battery technologies. One of these is PowerGenix, a San Diego, Calif.-based startup that makes nickel-zinc (NiZn) batteries.
Another is ZPower, a startup… Continue Reading
Ariba buys supply chain management software co., Procuri for $93M
Software company Ariba, of Sunnyvale, Calif., has agreed to acquire Procuri Inc, an Atlanta provider of supply management software, for $93 million in cash and stock.
Ariba will also pay off $8 million of Procuri’s debt.
Procuri had raised about $30 million from Advent International, Insight Venture… Continue Reading
Life sciences briefing: Thursday, Aug. 9, 2007
(UPDATED at 6:40pm PT: See below.)
Featured companies: Nereus Phramaceuticals, KFx Medical, NeuroMed Pharmaceuticals, Adnexus Therapeutics, Masimo, Biofisica, Aegera Therapeutics, LymphoSign, InfuScience, Palmetto Infusion Services
Nereus Pharma raises $45M for ocean-derived cancer drugs — San Diego’s Nereus Pharmaceuticals, a biotech that searches for cancer drugs in marine microbes, raised… Continue Reading
Accelergy, advanced catalytic materials co., raises undisclosed round
Accelergy Corporation, a Palo Alto company which says it offers “high throughput solutions for accelerated discovery, development and commercialization of advanced catalytic materials,” has said it raised a second round of financing from Goldman Sachs (which led the round), Sequoia Capital China and Lux Capital…. Continue Reading