VentureBeat

I wish my memory could get this kind of upgrade. Today, a new kind of chip memory is going to get a boost with the launch of a new venture spin-out company. If it succeeds, we’ll be carrying around much more responsive, instantly available portable gadgets in the future.

MRAM has been in the research labs for a long time as a chip technology that has the combined advantages of both temporary and permanent memory. But it has always been poised on the cusp, not quite ready yet to tip the scales in multibillion-dollar industries.

But Freescale Semiconductor is making a big move today by spinning out a venture-funded MRAM chip company, EverSpin Technologies. The spin-out is backed by New Venture Partners, Sigma Partners, Lux Capital, Draper Fisher Jurvetson, and Epic Ventures. The first round investment is $20 million.

MRAM stands for magnetoresistive Random Access Memory. MRAM uses tiny magnets combined with conventional silicon circuits to create a combo memory. It is a single chip with the speed of static RAM and the permanence, or non-volatility, of flash memory. Typically, flash is slow and permanent, while SRAM is fast but temporary.

With MRAM powering a portable device, you could have zero boot time, or “instant on.” And you wouldn’t lose any data if the device suddenly lost power. Freescale will transfer its MRAM technology to the start-up and keep an equity position in the new venture.

The new venture means a couple of things. It will require an investment that is bigger than what Freescale alone could pour into the start-up. But it also means that the technology is closer to commercialization after years of research. Lisa Su, chief technology officer at Freescale, said the move will accelerate the adoption of MRAM across a bunch of uses. Freescale already has a slate of MRAM products in the market and EverSpin will supply products to Freescale’s MRAM customers.

MRAM hasn’t yet taken over the world because the products still have smaller storage capacities (four megabits) for the moment. As the manufacturing improves and memory capactities rise, MRAM will be able to wrest more applications away from traditional memory.

TODAY’S HEADLINES:

• Gelesis draws in $16M for obesity treatments (release)
• Tempo Pharma raises $8B for nanoparticle drugs (release)
• Calistoga Pharma receives additional $5M for cancer and inflammation drugs (release)
• Montreux Equity Partners closes $250M life-sciences fund (release)
• MTS Health Partners names Andrew Weisenfeld, Mark Epstein managing directors (release)
• T2 Biosystems names John McDonough as CEO (release)

Gelesis draws in $16M for obesity treatments — Gelesis, a stealthy Boston company working on “novel” obesity treatments, raised $16 million in a first funding round. Investors included Orbimed Advisors and existing investors.

According to this Boston Globe story, Gelesis is developing a capsule containing an undefined “substance” that would expand in the stomach once swallowed, creating a temporary sense of fullness. The substance, whatever it is, would later pass out of the body.

Tempo Pharma raises $8B for nanoparticle drugs — Cambridge, Mass.-based Tempo Pharmaceuticals, a biotech developing “nanoparticle” formulations for new and existing drugs, raised $8 million in a second funding round. Investors included Polaris Venture Partners, Venrock, Lux Capital, Bessemer Venture Partners, Alexandria Real Estate Equities and William Rastetter, the former chairman of Biogen Idec.

The funding is Tempo’s second in just seven months; last May, it raised $12.1 million in a first round. (See our coverage here.) Tempo says the round reflects a “significantly increased valuation.”

Like other nanoparticle-drug companies, Tempo aims to improve the safety and efficacy of existing drugs — here by packaging them together in tiny capsules that release two drugs sequentially, presumably maximizing their effectiveness while minimizing side effects. Other nanoparticle-based companies we’ve covered recently include Carigent Therapeutics (here) and Bind Biosciences (here).

Calistoga Pharma receives additional $5M for cancer and inflammation drugs — Seattle’s Calistoga Pharmaceuticals, a biotech focused on new cancer and inflammation drugs, raised an additional $5.2 million in its first funding round. That brings the total round to $26.2 million.

Current investors provided the new funds. Previous investors in the round included Frazier Healthcare Ventures, Alta Partners, Three Arch Partners, Amgen Ventures and Eli Lilly, according to this Fierce Biotech story.

Calistoga, which was spun out of Icos after its acquisition by Lilly, is developing drugs against a class of biochemical-signaling molecules known as phosphoinositide-3 kinase. It currently has two drug candidates in preclinical studies.

Montreux Equity Partners closes $250M life-sciences fund — The Menlo Park, Calif.-based VC firm Montreux Equity Partners closed a $250 million life-sciences fund. The firm said the fund exceeded a $200 million target.

Montreux said the fund has already invested in several pharmaceutical and medical-device startups, including Glaukos, Avantis Medical, Tobira Therapeutics and Sequel Pharmaceuticals. We previously noted their fundraising efforts here.