iPierian snags $3.7M grant from NIH for cell reprogramming
iPierian, a South San Francisco-based company that’s researching the use of cellular reprogramming for drug discovery applications, has been selected by the National Institutes of Health for a $3.7 million grant to continue work on these topics in tandem with Johns Hopkins University.
The two-year “Great Opportunities” grant is actually part of the federal stimulus package to help fuel neurological and stroke-related research. Its work could eventually be used to treat ALS, Parkinson’s and spinal muscular… Continue Reading
iZumi Bio merges with Pierian to fuel stem cell technology
iZumi Bio, a research firm specializing in stem-cell research used to create a range of treatments, has merged with a similar company, Pierian, to advance development of regenerative medical therapies. At the same time, the new entity — iPierian — has taken in $11.5 million in new capital, including $10 million from MPM Capital.
The new company is taking up iZumi’s objective: to focus on pluripotent stem cells — skin cells that can be endowed with… Continue Reading
VCs already eyeing potential in new Chinese health care reforms
Last week, China’s State Council approved sweeping reform of its health care system, infusing it with $125 billion to provide universal medical coverage by 2011. And already venture capitalists all over the world are anticipating the opportunities in life science fields — pharmaceuticals, device making, etc. — that this avalanche of new funding will make possible.
Medical care in China has been somewhat of a disaster since the demise of the state-run system of the 1980s…. Continue Reading
Neovista sees $18M to treat eye disorders
Neovista, a Fremont, Calif.-based biotech company specializing in eye diseases, says it raised $18 million in a fourth round of funding to commercialize its new device. The money came from Accuitive Medical Ventures, Carlyle Group, Essex Woodlands Health Ventures, MPM Capital, SV Life Sciences and Versant Ventures.
The company says the money should be enough to see the device through to approval by the Food and Drug Administration in 2010. The product has already been cleared… Continue Reading
KaloBios tacks on $12M more for engineered antibodies
South San Francisco, Calif.-based KaloBios, a biotech company that raised $20 million just five months ago, has added another $12 million in a second close of its fourth round of venture capital.
KaloBios has three antibody products in development, each of which targets a specific set of diseases. Two of the candidates, KB001 and KB002, have made it to Phase 2 clinical testing.
The new funding was led by Baxter International, one of the world’s largest healthcare… Continue Reading
Nevro raises $22 million for pain therapy
Nevro Corp. has raised $22 million in a first round of funding. The Palo Alto, Calif. company is conducting clinical trials for its neuromodulation therapy for chronic pain. New investor Accuitive Medical Ventures joined return investors Aberdare Ventures, Bay City Capital, Mayo Clinic, MPM Capital and Three Arch Partners. Nevro raised a $5.5 million seed round in 2006.
ForteBio raises $25M for life science analytical instruments
ForteBio is a Menlo Park, Calif. company that makes instruments for biomolecular analysis in the life sciences. Its instruments can measure proteins, DNA, RNA and other small molecules without the use of labels.
Label-free measurement dispenses with the chemical markers that most techniques use, allowing for faster and cheaper analysis.
The company took $25 million from OrbiMed Advisors, MPM Capital, Alloy Ventures, Latterell Venture Partners, Versant Ventures and Vertical Group. This was ForteBio’s third funding; in its… Continue Reading
Cardio drug maker Portola Pharmaceuticals takes $60M extension
San Francisco-based drug company Portola Pharmaceuticals has taken a $60 million extension to its third round of funding to see it through Phase II trials for betrixaban, a drug intended to prevent blood clots.
The company is also working on an antiplatelet agent called PRT060128. If its drugs do well in trials, the company will likely head to an IPO, as we reported alongside its last $70 million fundung.
Managing Application Performance by Understanding Applications Learn more,… Continue Reading
Life-science briefing: Monday, March 31, 2008
TODAY’S HEADLINES:
Boston Scientific spinout TriVascular2 takes in $65M (release)
Inhaled-drug startup Transave raises $35M (release)
Triage Wireless gets $20M for vital-signs monitors (release)
Tryton Medical receives $14M for “bifurcation” stents (release)
Synthetic bio startup Codon Devices adds $11M (release)
Tracon Pharma takes in $4.5M against cancer and eye disease (VentureWire)
Antibody maker f-star swaps in equity stake by TVM (PDF release)
Drug packager MonoSol Rx withdraws IPO (IPOhome)
GE Healthcare acquires portable-ventilator maker VersaMed (release)
Boston Scientific spinout TriVascular2 takes in $65M – In 2005, Boston… Continue Reading
Life-science briefing: Monday, March 10, 2008
TODAY’S HEADLINES:
BrainCells raises $30M for neuroregeneration drugs (release)
EKR Therapeutics takes in $50M plus $95M in debt for pain, heart drugs (release)
Wright Medical acquires Berkeley’s Inbone Tech for $24M (release)
Argolyn Bioscience names Nixon Ellis as CEO (release)
BrainCells raises $30M for neuroregeneration drugs – San Diego’s BrainCells, a startup focused on drugs intended to stimulate the growth of new neurons, raised $30 million in a second funding round. Investors included MedImmune Ventures, Bay City Capital, Oxford Bioscience Partners,… Continue Reading
Life sciences briefing: Thursday, Jan. 17, 2007
TODAY’S HEADLINES:
TransEnterix gets $21M for minimally invasive GI surgery (release)
Stem-cell developer Bioheart’s IPO postponed (Forbes.com)
Medical-practice software provider AdvancedMD acquired by Francisco Partners (release)
Peptimmune draws $8.2M for MS drug trials (release)
Drug-delivery co. Talima Thera names Martin Babler CEO (release)
Alimera Sciences aims for autumn IPO to fund diabetic eye-disease drug (VentureWire, sub req’d)
TransEnterix gets $21M for minimally invasive GI surgery — TransEnterix (no Web site), a Research Triangle Park, N.C., device maker developing tools for “natural orifice”… Continue Reading
Life sciences briefing: Tuesday, Jan. 8, 2008
TODAY’S HEADLINES:
CyberHeart pumps in $9M for cardiac-arrhythmia treatment (release)
Incubator ForSight launches third device company with $6M funding (release)
Primera Biosystems raises $21M for molecular diagnostics (release)
Biogen Idec, PDL BioPharma take stakes in Ophthotech (release)
Technitrol acquires medical-device component maker Sonion for $385M (release)
DLJ Merchant Banking takes control of dentristy-product maker Den-Mat (release)
SV Life Sciences appoints Hamish Cameron as venture partner (release)
CyberHeart pumps in $9M for cardiac-arrhythmia treatment – CyberHeart, a Menlo Park, Calif., startup developing a non-invasive treatment… Continue Reading
Life sciences briefing: Wednesday, Dec. 19, 2007
TODAY’S HEADLINES:
Gene-silencing developer Santaris raises €20M (PDF release)
Consumer-driven healthcare manager RedBrick Health prescribed $15M (release)
Cardiac Dimensions takes in $36M for heart-valve device (release)
TcLand Expressions gets €8.2M for biomarkers (PDF release)
TheraQuest Bio gets $3M for pain drugs (release)
Brain-software maker NeuroTrax visualizes $1.5M (VentureWire)
ActivBiotics selling off assets after clot-busting drug failure (release)
Nanostart buys stake in Singapore’s Curiox, a drug-discovery tech firm (release)
Respiratory biotech Altair Thera gets additional funding (VentureWire)
Specialty pharma Prometheus Labs files for $100M IPO (Edgar)
Sirtris… Continue Reading
Life sciences briefing: Wednesday, Dec. 5, 2007
Featured companies: AxoGen, Cognition Therapeutics, Ester Neurosciences, Gene Security Network, HealthTalk, MPM Capital, Revolution Health, SparkPeople
UPDATING: Expanded items on AxoGen, Ester and Cognition. Posted full items on MPM (link) and Gene Security Network (link).
AxoGen raises $12M for nerve regeneration — AxoGen, an Alachua, Fla., biotech focused on developing grafts for damaged “peripheral” nerves, raised $12.1 million in a third funding round. Investors included Accuitive Medical Ventures, Cardinal Partners, De Novo Ventures and Springboard Capital II.
AxoGen develops tissue… Continue Reading
Life sciences briefing: Tuesday, Nov. 20, 2007
Featured companies: American TeleCare, Gliknik, Juvaris BioTherapeutics, Medsphere Systems, Primera Biosystems
UPDATED: Expanded items on Juvaris, Medsphere, Primera, American TeleCare and Gliknik. Moved Broncus Tech and Aegerion Pharma items to an IPO roundup here.
Vaccine maker Juvaris Bio raises $12M, aims for $30M more — According to VentureWire (subscription required), this Pleasanton, Calif., vaccine maker raised $12 million in its first funding round. That appears to contradict an earlier item from PE Hub that said Juvaris BioTherapeutics had raised… Continue Reading
Life sciences briefing: Friday, Oct. 26, 2007
Featured companies: Allozyne, Arteriocyte Medical Systems, Arthrosurface, Bay City Capital, EnteroMedics, OncoVista, Novotech, Power Medical Interventions, Reliant Technologies
UPDATED: Expanded items on Allozyne, Reliant Tech, Power Medical and Bay City Capital.
UPDATE REDUX: Added item on EnteroMedics IPO.
Seattle’s Allozyne draws $30M for new interferon — Allozyne, a Seattle biotech focused on tweaking existing protein-based drugs to improve their properties, raised $30 million in a second round of financing. Investors included MPM Capital, OVP Venture Partners, Amgen Ventures, ARCH Venture… Continue Reading
Life sciences briefing: Monday, Sept. 24, 2007
Featured companies: Adnexus Therapeutics, Bristol-Myers Squibb, Cellerix, Elixir Therapeutics, GenomeQuest, Intronn, JapanBridge, JenaValve, VirXsys, Ysios Capital
[NOTE: This item is a catchup daily briefing originally posted on 9/27/07. I've edited the item's timestamp to preserve the chronological order of the briefings. --D.P.H.]
Adnexus Thera cancels IPO, sells itself to Bristol-Myers for $430M — Waltham, Mass.-based Adnexus Therapeutics, a biotech pursuing drugs against cancer and other diseases, said it would cancel plans for its IPO and instead sell… Continue Reading
Life sciences briefing: Wednesday, Aug. 29, 2007
(UPDATED at 3:10pm PT: See below.)
Featured companies: Agendia, EndoGastric Solutions, FlowCo, Gentris, MedManage Systems, ParagonDx, Presidio Pharmaceuticals, Xoova
Presidio Pharma raises $26M for viral treatments — San Francisco’s Presidio Pharmaceuticals, a biotech developing new antiviral drugs, raised $26 million in a second funding round. Investors included Panorama Capital, Baker Brothers Investments, Bay City Capital, Ventures West Capital, Nexus Medical Partners, Sagamore Bioventures, George Rathmann Fund and Peninsula Overview Partners.
Presidio’s lead drug candidates take aim at HIV, hepatitis… Continue Reading
Life sciences briefing: Tuesday, Aug. 21, 2007
(UPDATED at 7:40pm PT: See below.)
Featured companies: Adnexus Therapeutics, BioForm Medical, Confirma, Cardiovascular Systems, Mirabilis Medica, Neuromed Pharmaceuticals, PlaCor, Seno Medical Instruments, Vibrynt
BioForm Medical files $115M IPO for “medical aesthetics” — BioForm Medical, a San Mateo, Calif., developer of wrinkle fillers and other products for cosmetic procedures, filed to raise $115 million in an initial offering. BioForm’s major customers are plastic surgeons and dermatologists.
BioForm, however, takes pains to describe itself differently on its Web site…. Continue Reading