Bacchus, drug infusion catheter maker, to raise $6.5M more
Bacchus Vascular, a Santa Clara, Calif. maker of a drug infusion catheter, expects to finish raising another $6.5 million round of financing from inside investors, according to VentureWire.
The funding comes from the same investors who poured $7.6 million into the company last year to restart the company, including Warburg Pincus, Kaiser Permanente Ventures and the Vertical Group. This comes after significant financing in previous years, totaling a reported $40 million. Earlier investors Three Arch Partners… Continue Reading
Cytyc to buy women’s contraception company, Adiana, for up to $215M
Cytyc Corporation, a publicly traded company targeting women’s health and cancer diagnostics, said it has agreed to acquire Adiana, a venture-backed Redwood City company that has developed a “non-incisional alternative to tubal ligation” for permanent contraception for women.
Cytyc, based in Marlborough, Mass., will make an initial upfront $60 million cash payment, and depending on milestones, such as whether Adiana’s product meets FDA approval, and sales growth over the next few years, total payments could reach… Continue Reading