TivaMed culls $6M more for stealthy gynecology device
TivaMed, a medical device maker working on radio-frequency-based technology for the gynecology field, has raised another $6 million in a first round of funding — bringing the total of the round to $10 million. Based in Palo Alto, Calif., the company says this financing will help it finish product development in preparation for a commercial launch next year, reports VentureWire.
Based on a 2007 patent filing, TivaMed’s technology will be used to retighten women’s skin following… Continue Reading
Phenomix cancels IPO, finds new lab partner
Biopharmaceuticals company Phenomix withdrew its filing to go public yesterday and right away announced a $340-million collaboration deal with Forest Laboratories. The IPO, intended to raise $86.3 million, had been pending since January.
Forest will aid the San Diego-based firm in the development of its diabetes treatment, dutogliptin, which is currently in its third phase of clinical trials. The deal represented $75 million for the company up front, with potentially more to come as the drug… Continue Reading
Novasys Medical takes $49.5M for women’s medical device
Novasys Medical is a Newark, Calif. medical company that makes a device for a specific condition affecting some women, called female stress urinary incontinence.
The device Novasys makes is the only real alternative to surgery for women with the problem, according to an interview with the CEO in VentureWire, which also reported the funding.
The $49.5 million was led by Versant Ventures, with participation from Skyline Ventures, Three Arch Partners, Affinity Capital Management, Alloy Ventures, Delphi Ventures,… Continue Reading
Nuon Therapeutics: A transplanted company tries to teach an old drug new tricks
At a first glance, San Francisco’s Nuon Therapeutics looks like any other specialty-pharmaceutical company that aims to pick up cast-off or failed drugs and try to squeeze some new life out of them. That sort of business model is frequently dull as dishwater, however lucrative it may turn out to be for the investors involved.
Unlike many specialty pharmas, however, Nuon — a recently renamed biotech transplant from Australia that just raised $5 million in… Continue Reading