Spinal Modulation raises $27M to treat spinal pain
Spinal Modulation, a company that makes treatments for chronic spinal pain, has brought in $27.4 million in a third round of capital to finance trials of its lead medical device. Based in Menlo Park, Calif., the company is backed by Johnson & Johnson Development Corp., InCube Ventures, Raffle Venture Partners, DeNovo Ventures, DFJ ePlanet Ventures, Kleiner Perkins Caufield & Byers and MedVenture Associates.
OncoMed nabs $93M for stem cell programs
OncoMed Pharmaceuticals, a company working to fight cancer using stem cells, added a $93 million tranche to a second round of funding that now totals $154 million. The money will be used to push its lead antibody candidate through phase-two clinical trials.
The Redwood City, Calif. firm specializes in developing treatments to target cancer stem cells — the cells that cause tumor growth and renewal. They are unique in their resistance to chemotherapy and radiotherapy treatments…. Continue Reading
Life sciences briefing: Wednesday, Aug. 29, 2007
(UPDATED at 3:10pm PT: See below.)
Featured companies: Agendia, EndoGastric Solutions, FlowCo, Gentris, MedManage Systems, ParagonDx, Presidio Pharmaceuticals, Xoova
Presidio Pharma raises $26M for viral treatments — San Francisco’s Presidio Pharmaceuticals, a biotech developing new antiviral drugs, raised $26 million in a second funding round. Investors included Panorama Capital, Baker Brothers Investments, Bay City Capital, Ventures West Capital, Nexus Medical Partners, Sagamore Bioventures, George Rathmann Fund and Peninsula Overview Partners.
Presidio’s lead drug candidates take aim at HIV, hepatitis… Continue Reading
Paracor raises $44M for heart-failure device that restrains the heart
(UPDATED: See below.) Paracor Medical, a Sunnyvale, Calif., startup developing a mesh restraint designed to support failing hearts, raised $44.35 million in a fourth round of funding. The company is vying with another device startup, Acorn Cardiovascular, to prove that this sort of device works and to bring it to market.
The idea behind Paracor’s device, which it calls HeartNet, is simple. In heart failure, a general term for a variety of similar conditions with different causes, the… Continue Reading