Cardio drug maker Portola Pharmaceuticals takes $60M extension
San Francisco-based drug company Portola Pharmaceuticals has taken a $60 million extension to its third round of funding to see it through Phase II trials for betrixaban, a drug intended to prevent blood clots.
The company is also working on an antiplatelet agent called PRT060128. If its drugs do well in trials, the company will likely head to an IPO, as we reported alongside its last $70 million fundung.
Managing Application Performance by Understanding Applications Learn more,… Continue Reading
Despite censorship issues, two Chinese online video sites get large rounds of fresh funding
The third-largest video site in China, 56.com, has been offline for nearly a month due to what most observers believe is government censorship. But that’s not stopping rivals from raising more funding.
Youku, approximately tied with Tudou as the largest video site in the country, has just closed a $30 million round led by private equity firm Maverick Capital, with participation from existing venture and private equity investors.
A much smaller rival, called ku6.com, has also… Continue Reading
Life sciences briefing: Wednesday, Dec. 12, 2007
TODAY’S HEADLINES:
Topical Botox maker Revance gets $43M, option to be acquired by Medicis (release)
Reva Medical draws $42M for resorbable stents (release)
AccentCare raises $8M for senior home-care services (VentureWire, sub req’d)
Light Dimensions aims for $6M for light-based skin treatment (VW)
Carigent pulls in $2M for nanoparticle drugs (release)
Celtic Pharma shoots for $1.5B in two drug-investment funds (VW)
Topical Botox developer Revance gets $43M, option to be acquired by Medicis — Mountain View, Calif.-based Revance Therapeutics, a developer of… Continue Reading
Cardiovascular biotech Portola Pharmaceuticals raises $70M, eyes IPO
Portola Pharmaceuticals, a South San Francisco, Calif., biotech aiming to develop treatments for blood clots and other heart-related problems, raised $70 million in a third round of financing dominated by late-stage and public-market investors.
Among new investors in the round were Brookside Capital; AllianceBernstein; Teachers’ Private Capital, the private investment arm of Ontario Teachers’ Pension Plan; Goldman Sachs, T. Rowe Price, IBTM and CIDC. They were joined by existing investors Abingworth, Alta Partners, Advanced Technology Ventures,… Continue Reading
MAP Pharma raises $50M for respiratory and CNS disease treatments
MAP Pharmaceuticals, a Mountain View, Calif, developer of treatments for respiratory and central-nervous-system diseases, said it raised $50 million in a fourth round of venture funding.
See statement here.
New investor, the D.E. Shaw group, joined previous investors, including Perseus-Soros Biopharmaceutical Fund, Pequot Ventures, Brookside Capital, Bay City Capital and Skyline Ventures.
MAP recently completed the second phases of clinical trials for its treatments for pediatric asthma and migraine. The company plans to use the new funds… Continue Reading