Cell Biosci takes $15M to examine cell pathways
Cell Biosciences, maker of software and other tools to learn more about how cells move and interact, has brought in $15 million of an anticipated $17.6 million fourth round of funding, according to a filing with the SEC. Based in Santa Clara, Calif., the company is backed by Domain Associates, Latterell Venture Partners, Vertical Group, Wellcome Trust, Novo A/S and the Royal Bank of Canada.
Microchip Biotech eyes launch with new $18.1M
Microchip Biotechnologies, maker of technology used in DNA sequencing, has brought in $18.1 million to launch its product on the market. Based in Pleasanton, Calif., the company is backed by Domain Associates, Samsung Ventures, Western Technology Investment, In-Q-Tel, Rona Syndicates and private individuals.
Oraya scores $42M for eye radiation treatments
Oraya Therapeutics, maker of radiosurgical tools used to treat eye diseases, has brought in $42 million in a third round of funding from Domain Associates, Scale Venture Partners, Essex Woodlands Health Ventures and Synergy Life Partners.
Based in Newark, Calif., the company says it will use its new financing to widen its overseas clinical trials. It hopes to earn international approval and clearance for commercialization. Called the IRay system, its lead treatment can deliver precise doses… Continue Reading
Cancer drug maker BiPar sells to Sanofi-aventis for $500M
BiPar Sciences, maker of tumor-targeting cancer treatments, will be acquired by public global pharmaceutical company Sanofi-aventis. The two companies have signed a binding agreement that could deliver more than $500 million to BiPar, divided into varying milestone payments.
Based in Brisbane, Calif., BiPar creates therapies, primarily for breast and ovarian cancer patients, that use inhibitors to kill cancer cells by preventing them from repairing their own DNA. Its lead compound in this area, BSI-201, is currently… Continue Reading
Philanthropic fund of funds Legacy closes $276M
Legacy Venture, the Palo Alto, Calif. firm that holds a portfolio of other investment funds and distributes returns to charities, announced that it closed a new $276 million fund, its fifth, despite adverse economic conditions. Basically, Legacy takes money from limited partners who commit their profits to charities of their choice. This allows these partners to amplify philanthropic contributions that they would make regardless.
In the past, Legacy has worked with well-established firms like August Capital,… Continue Reading
Cell Biosciences to launch new tech with $10M
Cell Biosciences announced that it’s just brought in $10 million in a third round of funding to launch its new protein analysis technology used to track cellular pathways. It plans to sell its products to labs and research institutions that are developing medications and chemical diagnostics for cancer, diabetes and other diseases.
The Palo Alto, Calif. company has scheduled the launch for its new technology at the end of this month. A previous version of the… Continue Reading
Investors give up on diabetes drug maker DiObex
After failing to raise a sustaining round of capital, DiObex has been effectively shut down by its investors. They have laid off the San Francisco company’s eight employees and are moving to quickly sell off its assets, including its lead drug candidate, a compound that prevents hypoglycemia in diabetes patients.
DiObex originally launched with $30 million from Domain Associates, Inventages Venture Capital, Pequot Capital, Sofinnova Ventures and several others in 2003. In the past year or… Continue Reading
Public biotech firms Cadence, Affymax draw $128M from bargain-hunting VCs
Much has been written about how the IPO market froze out biotech companies in 2008, but it looks like times are also tough for those who went public before the economy soured. Cadence Pharmaceuticals has seen a dip in stock price from $9 to $7.53 and drug-maker Affymax has dropped from $25 to $14.12 a share since their IPOs in 2006. But VCs hunting for bargains just agreed to infuse the two companies with $86.6… Continue Reading
Corthera adds $10M for heart failure medication
Pharmaceutical company Corthera just took $10 million to close a $23 million third round of funding but is already looking to raise $40 to $50 million in a new fourth round by March to support clinical trials of a drug that could ease symptoms of heart failure, reports VentureWire. Poised for phase three clinical trials, the drug, called Relaxin, is actually a hormone capable of relieving the lung fluid congestion and hypertension that accompany heart… Continue Reading
BiPar snags $20M for inhibitor-based cancer therapies
Pharmaceutical firm BiPar Sciences just brought in $20 million in private equity and venture debt to advance its lead therapy, targeting breast cancer, to phase-three clinical trials. The investment will double the Brisbane, Calif.-based company’s cash on hand, a huge vote of confidence for its treatment methods based on inhibitors that kill cancer cells by preventing them from repairing their own DNA, BiPar says.
Its lead compound, currently in phase-two tests, could also be used to… Continue Reading
Achaogen takes in $5.6M to fight bacterial infections
Pharmaceutical company Achaogen received a $5.6 million grant from the U.K.-based Wellcome Trust as part of its Seeding Drug Discovery Initiative. The money will go toward phase one clinical trials of the San Francisco company’s lead drug candidates, aimed at treating bacterial infections that are already resistent to multiple antibiotics.
It last raised funds in 2006, bringing in $26 million in second-round funding from Venrock, Versant Ventures, Domain Associates and Arch Venture Partners.
BioLogix bags $6M for oncology drug, names new CEO
Biopharm company BioLogix raised $6 million in first-round equity and debt financing from Essex Woodlands Health Ventures and New Science Ventures. The money will be used to continue development of its top cancer-fighting compound, but a second round is already in the works.
So far the Palo Alto, Calif.-based firm has brought in $40 million. It hopes to take enough in its next fund-raising effort by early 2009 to push the drug into clinial testing, setting… Continue Reading
Life-science briefing: Monday, April 7, 2008
TODAY’S HEADLINES:
Quark Pharma gets $27M for RNAi drugs (release)
TargetRx takes in $9.6M for physician-prescribing data (release)
D-Pharm raises more than $3M for fat-like drugs (release)
Vortex Medical raises $2.3M for medical devices (VentureWire)
Specialty pharma Ascio takes in $3M (VentureWire)
Keraderm gets $1.7M for antifungal drugs (VentureWire)
Contract researcher CTMG raises $500K toward $1M round (VentureWire)
Singapore’s Progeniq raises seed funding for life-science computing (release)
Acrongenomics scuttles Molecular Vision acquisition (peHUB)
Michael Gutch joins H.I.G. Ventures (release)
Quark Pharma gets $27M for RNAi drugs – Fremont, Calif.-based Quark Pharmaceuticals,… Continue Reading
Life-science briefing: Tuesday, March 18, 2008
TODAY’S HEADLINES:
Luminous Medical raises $24M for automated glucose monitoring (release)
Alimera Sciences gets $30M for eye-disease drug (release)
Vaccine maker LigoCyte draws $28M (release)
Heartbeat tracker CardioNet trims IPO, aims for listing today (IPOhome)
Axial Biotech takes in $6M for spinal diagnostics (release)
Insulin bioengineer enGene receives $6.4M (release)
GlucoLight raises funding for, well, glucose monitoring (release)
Germany’s InflaRx gets seed funding for sepsis work (release)
Cell imager Amnis pulls in $3.5M (VentureWire)
Korea Bone Bank gets funding for bone transplants (release)
Luminous Medical raises… Continue Reading
Life sciences briefing: Wednesday, Feb. 27, 2008
TODAY’S HEADLINES:
InSound Medical raises $11M for “invisible” hearing aids (VBLS exclusive)
Corventis takes in $20M for heart-failure therapy (VBLS exclusive)
Molecular diagnostics user AssureRx raises $1M (Cincinnati Enquirer)
Arresto Biosciences, cancer-drug developer, raises funds (VentureWire)
San Diego’s Obalon raises $4.7M for drug discovery (peHUB)
InSound Medical raises $11M for “invisible” hearing aids – This item is a standalone post here.
Corventis takes in $20M for heart-failure therapy – San Jose, Calif.-based Corventis, a startup working on ways to monitor the vital signs of… Continue Reading
Life sciences briefing: Thursday, Feb. 7, 2008
TODAY’S HEADLINES:
Aptamer-drug maker Archemix withdraws its $72.5 million IPO (Edgar)
OraMetrix raises $20M for robotic orthodontic systems (peHUB)
Microarray maker TeleChem goes public via reverse merger (release)
BioVascular pulls in $11M for platelet-disease treatments (release)
Cequent Pharma adds $4.5M for for RNAi drugs (VentureWire)
CareSeek, online medical-rating service, gets $575K, looks for $5M (VentureWire)
Satiogen takes in $700K for obesity treatment (VentureWire)
Dilon Tech appoints Robert Moussa as CEO (release)
Aptamer-drug maker Archemix withdraws its $72.5 million IPO – I’ve expanded this news into… Continue Reading
Life sciences briefing: Thursday, Jan. 31, 2007
TODAY’S HEADLINES:
5AM Ventures puts $3.3M into stealthy ImmunoNewco (VBLS exclusive)
NewLink Genetics raises $17M for cancer vaccine, immune drugs (VBLS exclusive)
Biochip, stem-cell biotech Minerva Bio ousts CEO Jim Czirr and sues (release)
Sonexa Therapeutics takes $30M for Alzheimer’s treatment (release)
Tissue regenerator Healionics pulls in $1.7M (release)
EGeen, clinical research organization, receives $245K (VentureWire)
Barnvet Labs, HeMemics Bio get $75K apiece from Maryland gov’t (release)
5AM Ventures puts $3.3M into new immune-related startup – I’ve moved this item to a standalone post… 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
Life sciences briefing: Friday, Dec. 21, 2007
TODAY’S HEADLINES:
Cogentus Pharma raises $63M for blood thinners (release)
Corthera draws $23M for heart-failure drug (release)
Nanolymf seeks $2M for drug-delivery tech (release)
LineaGen pulls in $5.6M for molecular diagnostics (release)
Cogentus Pharma raises $63M for blood thinners — Menlo Park, Calif.-based Cogentus Pharmaceuticals, a specialty pharma developing combined formulations of existing drugs, raised $62.5 million in a third funding round. Investors included Keffi Group, Prospect Venture Partners, Ridgeback Capital, Apothecary Capital and Pinnacle Ventures.
Cogentus aims to combine existing… Continue Reading
Life sciences briefing: Friday, Nov. 2, 2007
Featured companies: Ascent Therapeutics, Bas Medical, Bikam Pharmaceuticals, Fundamental Applied Biology, Juvaris BioTherapeutics, Medavante, Trivitron, Vapotherm
UPDATED: Expanded items on Bas Medical and Juvaris.
Bas Medical raises $20M for heart-failure drug — San Mateo, Calif.-based Bas Medical, a biotech developing drugs based on a hormone called relaxin, raised $20 million in a third funding round, VentureWire reports (subscription required). Investors included Domain Associates, Kleiner Perkins Caufield & Byers and Sears Capital Management.
Relaxin is a natural peptide hormone whose levels… Continue Reading