Security software maker Ortega files for bankruptcy
Ortega Infosystems, provider of IP surveillance video systems, just filed for Chapter 7 bankruptcy protection, according to VentureWire. The Fremont, Calif.-based company seems to have been shuttered for a while now (its website has already been dismantled) and reported only $50,000 in assets and up to $100,000 in liabilities at the time of the filing.
Its previous investors included Harbinger Venture Management and Sycamore Ventures. Ortega last raised funds in December 2002, bringing in $11.8 million… Continue Reading
Eureka strikes $6M for cancer antibodies
Drug developer Eureka Therapeutics brought in $6 million in second-round financing to continue development of antibodies used to treat cancer, VentureWire reports. Harbinger Venture Management led the round, with contributions coming from Acorn Campus Ventures and Desert Spring Life Science Capital.
The Emeryville, Calif.-based company also conducts outsourced antibody research services for other firms. It previously raised $1.6 million in a 2006 first round of funding.
Semiconductor company Quintic raises $7.5M
Fabless semiconductor company Quintic has raised $7.5 million in a second round of funding, according to PE Wire. Venture firms Walden International, IDG VC, Tallwood Venture Capital and Harbinger Venture Management participated in the round. The Santa Clara, Calif. company, which makes circuits for wireless consumer electronics, raised $8.2 million in its first round in 2006.
Update: Quellan raises $20M for mobile phone noise-reduction — delay on profitability
Quellan, a Santa Clara, Calif. company that reduces noise interference on weak wireless signals, said it has raised $20 million in a third round of financing.
[Update: The company, which originally said it would be profitable this year, now says it won't be profitable until the end of next year.]
The company has been around since 2001, but its strategy to boost cell reception is relatively recent. Its technology comes at a good time: Motorola’s RAZR phone… Continue Reading
Optovue, an ocular disease treatment co., raises $10.5M
Optovue, a Fremont, Ca. maker of devices that improve diagnosis and treatment of ocular disease, has received $10.5 million in second round of funding, the company announced said.
Based on high speed and high resolution Fourier-Domain OCT technology, the products help with retina conditions such as macular degeneration, diabetic retinopathy, glaucoma, and other macular diseases.
Trevi Health Ventures led the round, which also included Acorn Campus Ventures, HNQ Asia Pacific, Harbinger Venture Management, iD SoftCapital and other… Continue Reading