Brilliant Telecom dials up $7.6M to sync wireless carriers
Brilliant Telecom, a company that designs, develops and distributes network timing solutions for telecommunications equipment, has brought in $7.6 million in convertible debt from Onset Ventures, NovAtel, Asset Management, Draper Associates, Draper Richards, Xilinx and a handful of individual investors, reports Dow Jones VentureWire. Based in Campbell, Calif., says its technology offerings ensure smoother operation of streaming voice and video applications.
Loomia snags $1.5M to recommend news, products
Loomia, maker of a recommendation engine that tells people what news to read and which products to buy, has raised $1.5 million in debt and rights, according to a filing with the SEC. Asset Management, Peacock Equity Fund and Telefonica have contributed to the San Francisco-based company before. It has raised about $6.5 million to date.
Sonoma secures $12M to heal wrist, clavicle fractures
Sonoma Orthopedic, maker of a device used to mend wrist and clavicle fractures, has raised $12 million in a third round of funding to commercialize its first two products, reports VentureWire. Based in Santa Rosa, Calif., the company’s flagship offering is the WaviBody — a flexible device inserted directly into a fractured bone that then becomes rigid, setting the break in an anatomically accurate way.
Both wrist and clavicle fractures have proved problematic for doctors in… Continue Reading
Napo Pharm raises seed money for its anti-diarrheal drug
Napo Pharmaceuticals, a South San Francisco-based drug company, just closed a round of initial funding from Asset Management. The undisclosed sum is earmarked for its subsidiary Crofelemer Access Program Global, which makes an anti-diarrheal compound for HIV and AIDS patients. It is currently in phase-three clinical trials.
As part of the deal, Asset Management will receive royalties on the sale of the drug in North America, Europe and Japan. In December, Salix Pharmaceuticals acquired limited rights… Continue Reading
Ahead of deployment, Brilliant Telecom adds to its round
Sometimes a funding is all about timing. In Brilliant Telecommunications‘ case, everything it does is about timing. The Campbell, Calif.-based company makes timing devices for the telecom industry.
Gearing up for its deployment of wireless products with a European carrier, the company has added $4.9 million to its second round of funding, according to VentureWire.
This new money, led by previous investor NovAtel, brings its second round total up to $11 million. Asset Management, Draper Associates, Draper… Continue Reading
InterKrin raises $18.5M for continued work on diabetes drug
Palo Alto, Calif.-based InterKrin is developing an anti-diabetes drug. It has raised an $18.5 million in a not-yet-closed third round of funding, according to VentureWire. The round was led by Amgen and Skyline Ventures and joined by existing backers Sofinnova Ventures, OrbiMed Advisors, Asset Management, Sears Capital Management and Vivo Ventures.
Biomimedica raises $2.4 million for joint repairs
Biomimedica has raised $2.4 million in a first round for its joint-repair business.
VentureWire reported that Emergent Medical Ventures led the round. Other investors include Asset Management Co. and Life Science Angels.
Based in Santa Clara, Calif., Biomimedica was started earlier this year. The company is developing a synthetic cartilage called Cartigel for joint repair.
Capnia, a CO2-through-nose treatment company, raises $16.3M
Capnia, a Palo Alto, Calif., company that delivers carbon dioxide through a patient’s nose to treat things like migraines and rhinitis, has raised $16.3 million of a potential $19 million third round of funding.
Backers include existing investors Vivo Ventures, Asset Management and Teknoinvest, as well as individuals including chief executive Ernest Mario, according to VentureWire, which first reported the news.
The company said the money will help the company finish the second phase of trials for… Continue Reading
Life sciences briefing: Friday, Aug. 24, 2007
(UPDATED at 11am PT on Sunday, 8/26/07: See below.)
Featured companies: Clinical Data, Epidauros Biotechnologie, Precision Therapeutics, UMD, Zars Pharma
UMD to close $8M for menstrual pain and osteoporosis — Cincinnati’s UMD, a developer of vaginal drug-delivery technologies, expects to close up to $8 million in a fifth funding round, VentureWire reports (subscription required). The company has backing from an undisclosed new investor, and expects former investors Charter Life Sciences and Asset Management to join the round.
UMD is developing… Continue Reading
Sonoma Orthopedics raises at least $10M for spinal devices
Sonoma Orthopedics, a stealthy spinal-device maker in Santa Rosa, Calif., raised at least $10 million in a second funding round, VentureWire reports. The company raised $3 million in a first round last April.
Sonoma Orthopedics is at work on devices that repair or reinforce bones from the inside. MedVenture Associates led the round, and was joined by existing investors EDF Ventures, Asset Management, Halo Fund and Angel’s Forum.
Brilliant, a network server technology co., raises $7.1M
Brilliant Telecommunications, a Campbell, Calif. developer of “Network Timing Protocol” (NTP) server technology, said it has secured $7.1 million in a first round of funding led by ONSET Ventures.
Also investing were Asset Management, Draper Associates, Draper Richards, and Intellect Capital Ventures. Susan Mason, ONSET Management general partner, and Richard Simoni, Asset Management partner, joined the company’s board. Brilliant initially closed the round in June 2006, and had a subsequent closing in December 2006, the… Continue Reading
InteKrin, a co. that fights diabetes and obesity, raises $23M
InteKrin Therapeutics, Inc., a Palo Alto company developing products to counter diabetes, metabolism and obesity, said it has raised $23 million in venture financing.
The financing was led by Sofinnova Ventures and included Orbimed Advisors and Vivo Ventures, as well as earlier investors Asset Management and Sears Capital Management. The round will fund the clinical development of InteKrin’s lead drug candidate, INT131, targeting type II diabetes, the company said.
(This story first posted 1/12)
Novare raises $16 million for less invasive surgery instruments
Novare Surgery has raised $16 million in a fourth round of funding to bring its RealHand instruments for “minimally invasive surgery” to market.
The Cupertino start-up said Point Judith Capital and Tudor Investment Corp. led the round of financing and were joined by existing investors Thomas J. Fogarty, Channel Medical Partners, Canaan Partners, Asset Management and new investor Deerfield Partners.
Gina Raimondo, a partner at Point Judith Capital, has been elected to Novare Surgical Systems’ board of… Continue Reading