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
Data switch-maker Hammerhead dead in the water
Telecom data-switching company Hammerhead Systems has folded due to the poor economy, reports VentureWire. Specifically, the Mountain View, Calif.-based company failed to recruit enough mobile carriers as customers for its Ethernet aggregation switches, which rout data from mobile users back to operator networks.
The company claims this functionality helped carriers adapt aging equipment to modern traffic demands — but to no avail. It just let go 50 of its 53 employees, and the several that remain… Continue Reading
Transera raises $17M for on-demand call center technology
Transera, provider of software that lets its clients set up cost-effective call centers with agents (in-house or outsourced) all over the world, announced that it brought in $17 million in a fourth round of funding from Accel Partners, Apax Partners, Lighthouse Capital Partners and Storm Ventures. The Sunnyvale, Calif.-based company says it will use the money to go after new customers, improve its service infrastructure and continue developing its products.
In particular, Transera’s software, called Seratel,… 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
Angie’s List swells with $7M for consumer reviews
Angie’s List, the site that lets users rate and review local service providers from doctors to dog walkers, just nabbed $6 million in subordinated debt financing and $1 million in equity. The investment comes less than a month after it took $18 million in venture debt, and less than a year since its $35 million round from Battery Ventures in April. The Indianapolis-based company, fairly unique in its ability to combine local search and user-generated… Continue Reading
Venture debt firm Lighthouse Capital Partners closes $132M fund
Lighthouse Capital Partners, a firm that loans money to venture-backed start-ups, has raised $132 million for its sixth fund, reports VentureWire (sub required).
The firm, which has offices in Boston and Menlo Park, Calif, has a $350 million target for the fund, and could raise as much as $400 million. Managing Director Rick Stubblefield and Managing Director Anurag Chandra will not participate in the new fund the report said.
Ericsson picks up broadband services co., Entrisphere, for reported $290 million
Ericsson said it has acquired Entrisphere, a Santa Clara company providing fiber technology so that people can access broadband.
The amount was not disclosed, but Network World hears a rumor that it was $290 million. For a company that soaked up at least $146 million since launching in 2000, that’s an ok outcome for investors.
This is another story of the staying power of Accel Partners, which backed the company in all seven rounds of financing. It… Continue Reading
E-commerce search company, Mercado, raises $11M
Mercado Software, a Pleasanton company that provides e-commerce search technology, said it has raised $11.5 million in a third round of funding.
Investors include Israeli-based The Challenge Fund and British investment firm Consensus Group, and existing investors Pitango Venture Capital, Eucalyptus, Star Ventures and Valley Venture Capital (formerly Mofet). The financing includes a line of credit from Lighthouse Capital Partners.
The company, founded in Israel, but since headquartered in Pleasanton, said most of its sales are in… Continue Reading