Examiner.com snaps up citizen-journalism hub NowPublic
Examiner.com, the media company known best for its right-leaning owner, Philip Anschutz, announced that it has purchased citizen journalism-driven web site NowPublic. The price was undisclosed, but PaidContent pegged the sale price $25 million.
The site collects and disseminates news articles from hundreds of writers in 160 countries around the globe, most without any journalistic training. Its connection to location is particularly interesting, allowing viewers to easily find news relevant to their local areas.
This is the… Continue Reading
NxtGen Emission Controls gets $15M for cleaner diesel
Rather than building an improved diesel engine from scratch like EcoMotors or Achates Power, a Canadian company called NxtGen Emission Controls just wants to clean up the old ones.
The company makes an add-on for existing engines that converts diesel fuel to a cleaner-burning mix before it hits the combustion chamber. However, its products won’t be on sale until next year.
The $15.4 million investment was led by Altira. Japanese auto company Itochu also participated, along with… Continue Reading
Zeugma Systems raises $22.5M for next-gen broadband
Zeugma Systems is a Vancouver, B.C. company that says it is developing a telecommunications network for next-generation high-speed broadband.
The company will use the most recent round of funding for its commercial launch, but has so far remained in stealth, and has not yet announced any specific products.
Zeugma System’s hefty second round of funding was led by Vertex Venture Capital. Return investors Granite Ventures, Ventures West, Yaletown Venture Partners, GrowthWorks Capital and BDC Venture Capital also… Continue Reading
CellFor raises $24.5M for cloned trees
Like ImageTree, a startup we reported on two weeks ago, CellFor’s cleantech angle is forest management, aided by the about-face the timber market has had in the last few years.
CellFor, a Vancouver, British Columbia company, clones trees through a process called somatic embryogenesis. The trees it produces grow quickly and predictably, and tend to be resistant to diseases.
Those are desirable traits to forest owners, many of whom are now hedge funds and investment vehicles called… Continue Reading
Celator: Combining chemo drugs for fun and profit
(UPDATED: See below.)
Is there a better way to combine drugs in cancer chemotherapy? Celator Pharmaceuticals, a Princeton, N.J., venture drug maker that just raised $10 million, aims to find out.
Like Horizon Therapeutics, which we wrote about here, Celator is convinced that combining two existing drugs in a single formulation at the right proportions can yield better results than current treatments. Although many chemo drugs are already used in combination, the drugs that can be used this… Continue Reading
RNAi developer Protiva raises $3.3M
Protiva, a Vancouver, B.C.-based developer of drugs based on the new technology of RNA interference, raised $3.3 million in debenture financing. Investors included GrowthWorks Capital, BDC Capital, the Canadian Medical Discoveries Fund and Kinetic Capital.
Protiva is currently embroiled in litigation against two other biotechs, including Sirna Therapeutics, another RNAi company acquired by Merck last December, and Tekmira Pharmaceuticals.