Aerovance inhales $38M for asthma drugs
Aerovance, developer of asthma medications, just brought in $38 million in a post-recapitalized third round of funding to push its lead drug candidate through a second phase of clinical trials. The company has already received $20 million, with the option of claiming the remaining $18 million as necessary.
Based in Berkeley, Calif., the company has already seen its drug, Aerovant, through the first part of second-phase trials. The company will use the new money to complete… Continue Reading
Pearl Therapeutics gathers $8M to treat breathing disorders
Pearl Therapeutics, a Redwood City, Calif.-based developer of inhaled drugs to treat respiratory diseases like COPD and asthma, just landed $8 million in venture debt from Oxford Finance and Silicon Valley Bank to expand its product line.
The company licensed particle-based technology from San Carlos, Calif.-based Nektar Therapeutics to improve inhaled drug targeting and lung distribution, cutting down on negative side effects. So far, it has not disclosed whether its products are in clinical trials or… Continue Reading
Pelikan closes $25M for handheld diagnostics
Pelikan Technologies, maker of medical devices for diagnosing and monitoring diabetes, just brought in $25 million from undiclosed investors, reports VentureWire. Based in Palo Alto, Calif., the company spun out of Agilent Technologies in 2001 with the launch of its Pelikan Sun line, an electronic lancing device used to test blood sugar.
This round of capital brings its total raised to $145 million (it last raised $89 million at the end of 2007). Past investors (that… Continue Reading
Pelikan scoops up $12.5M for diabetes diagnostics
Pelikan Technologies, maker of diagnostic and health-monitoring devices that can be used by regular people, nabbed a $12.5 million tranche of an expected $25 million seventh round of funding, according to VentureWire. Its flagship product, the handheld diabetes tester Pelikan Sun, is already on the market and is even being targeted for children.
The Palo Alto, Calif.-based company has raised $145 million to date. Its most recent round amounted to $69 million last December. Contributors to… Continue Reading
Ferrokin brings in $8.4M for anemia treatment
Ferrokin Biosciences, a San Carlos Calif. company that makes compounds to treat iron overload in patients with anemia, received $8.4 million of what it hopes will be a $15 million first-round of funding from Clarus Ventures, Burrill & Co. and Celegene Inc.
Iron overload is a common side effect of repeated transfusions used to treat certain types of anemia. The company doesn’t have a website, and very little information on it is available.
Pearl Therapeutics ups its first round funding
Pearl Therapeutics, a biopharmaceutical company, has upped its first round of funding to $33.5 million after an additional $18 million investment, according to VentureWire.
New investor Nektar Therapeutics joins all of the company’s previous investors including Clarus Ventures, New Leaf Ventures and 5AM Ventures in this raise.
The Redwood City, Calif.-based Pearl Thera now has $36.4 million including debt funding.
Life sciences briefing: Thursday, Feb. 28, 2008
TODAY’S HEADLINES:
RNAi developer PhaseRx gets $4M of a pledged $19M (Seattle Times)
TyRx Pharma, drug-device combo maker, raises $25M (release)
Agennix aims at $40M for cancer drugs (VentureWire)
Starr Life Sciences goes after $1.6M for small-animal vital-signs scanner (VW)
CardioNet sets IPO terms, aims to raise $96M (IPOhome)
RNAi developer PhaseRx gets $4M of a pledged $19M – Investor interest in RNA interference, an ancient cellular mechanism for silencing dangerous genes, continues apace. PhaseRx, a Seattle biotech, has raised $4 million… Continue Reading
Life sciences briefing: Friday, Feb. 1, 2008
TODAY’S HEADLINES:
Taligen Therapeutics raises $65M for novel anti-inflammatory drugs (release)
Dental-implant maker Biohorizons acquires Implant Logic (release)
MAKO Surgical sets IPO terms, seeks $94M for knee implants and robots (Edgar)
Canada’s Medical Ventures acquires two Israeli device startups (release)
CRO Chiltern acquires Drug Development Solutions (release)
Taligen Therapeutics raises $65M for novel anti-inflammatory drugs –Aurora, Colo.-based Taligen Therapeutics, a biotech working on targeted anti-inflammatory drugs, raised $65 million in a second round of funding. The deal is one of the… 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
Pelikan Tech to push “finger friendly” diabetes testing
One of the constant but unavoidable challenges in trying to control diabetes is the frequent need to test blood-sugar levels by sticking a needle into a fingertip — a step that tells diabetics when they need a snack (to raise blood glucose) or a shot of insulin (to lower it). “Lancing” fingers several times a day can render the tips so tender that it restricts ordinary activity — playing the piano, for instance — for… Continue Reading
Life sciences briefing: Monday, Oct. 29, 2007
Featured companies: Azaya Therapeutics, Global Care Solutions, Oxford Immunotec, RealSelf.com, Sequoia Pharmaceuticals, Tactile Systems Technology, WellGen, Zeltiq Aesthetics
UPDATED: Expanded items on Oxford Immunotec, Zeltiq, Tactile Systems, RealSelf.com and Global Care.
Oxford Immunotec pulls in $40M for TB tests — Oxford Immunotec, a U.K. biotech focused on new diagnostic tests for infectious disease, raised $40 million in a third financing round. The company’s release is here (PDF). Investors included Clarus Ventures, Wellington Partners, Kuwait-based National Technology Enterprises Company, the… Continue Reading
Life sciences briefing: Monday, Oct. 22, 2007
Featured companies: Ablynx, Avant Immunotherapeutics, BioForm Medical, Celldex Therapeutics, Genomas, High-Throughput Genomics, Orchid Cellmark, ReliaGene Technologies, SarCode, TransMolecular, VisEn Medical
UPDATED: Expanded items on SarCode, Celldex/Avant and Ablynx.
UPDATE REDUX: Added items on BioForm Medical, High-Throughput Genomics and Orchid Cellmark/ReliaGene.
San Francisco’s SarCode draws down $7M for inflammation drugs — The two-year-old startup drew down $7 million as part of a $25 million first funding round the company arranged last December, VentureWire reports (subscription required). Investors in that round included Alta… Continue Reading
Life sciences briefing: Thursday, Sept. 6, 2007
Featured companies: Cyntellect, Lectus Therapeutics, NeoMatrix, Nexstim, Pearl Therapeutics, Proteon Therapeutics, SupplyScape
(UPDATED at 10am PT: See below.)
Airway-disease specialist Pearl Therapeutics raises $15.5M — Redwood City, Calif.-based Pearl Therapeutics, a drug-formulation company focused on respiratory disease, raised $15.5 million in a first funding round. Investors included New Leaf Ventures, Clarus Ventures and 5AM Ventures.
Pearl doesn’t appear to have a working Web site yet, but according to its release, the company aims to treat unspecified airway diseases using “particle… Continue Reading
Life sciences briefing: Thursday, Aug. 23, 2007
(UPDATED at 6:30am PT on Friday: See below.)
Featured companies: DNA2.0, Globus Medical, Inotek Pharmaceuticals, Operon Biotechnologies, PleuraFlow
Globus Medical raises $110M for spinal implants — Globus Medical, an Audubon, Pa., developer of spinal implants, raised $110 million in a fifth financing round. Investors included Clarus Ventures, AIG SunAmerica and other large, institutional private-equity funds.
Some have called this the largest venture-capital funding of the year — by a grand total of $1.65. That’s one dollar and sixty-five cents. No… Continue Reading
Aerovance, asthma treatment company, finishes raising $60M
Aerovance, a Berkeley, Calif biopharmaceutical company looking to find a partner for its asthma treatement, Aerovant, reached back to year-old news and announced it has finished raising $60 million in a third round of financing.
There is “substantial very, very strong interest” by pharmaceutical and biotech companies in the asthma treatment, the company told VentureWire (sub required), though no specifics were given.
Here is the company’s announcement of the funding last year.
The company’s drugs target severe… Continue Reading
MPM Capital raises $550M healthcare fund
MPM Capital, a large venture firm with offices in Boston, San Francisco and New York, said it has raised a new $550 million fund, to focus mostly on biotech and specialty pharma companies, but with 15 percent earmarked for other medical companies.
The fund is much smaller than its previous $900 million fund, in part because of the departure of many of its partners two years ago to form Clarus Ventures. However, you will not see… Continue Reading
Neurovascular company Athenagen raises $50M in second round
Athenagen, a biotech start-up in South San Francisco focused in the area of neurovascular diseases, said it has raised $50 million through a Series B financing.
The funds will be used primarily to advance development of the company’s lead programs targeting Alzheimer’s disease, age-related macular degeneration (AMD) and cognition enhancement, the company said.
The financing was co-led by Sanderling Ventures and Clarus Ventures, with a significant investment also made by Index Ventures. Current investors, Charter Life… Continue Reading