Alvine gobbles $21.5M to treat gastrointestinal disease
Alvine Pharmaceuticals, developer of drugs for autoimmune and gastrointestinal diseases, has raised $21.5 million more in first-round funding, bringing the total to $47.5 million. The San Carlos, Calif. received the expansion from Panorama Capital, InterWest Partners, Prospect Venture Partners, Sofinnova Ventures, Black River Asset Management and Flagship Ventures.
$4.5M flows to online wine seller Vinfolio
Vinfolio, the online marketplace for fine wines, has raised $4.5 million in a first round of venture funding led by Panorama Capital. Based in San Francisco, the company was known best for selling management software (called VinCellar) to wine cellars. It only launched its auction-based store in July, allowing wine collectors as well as cellars to buy, sell and keep track of their goods more easily.
Vinfolio says the recent round of funding will fuel further… Continue Reading
LV Sensors shutters, looks for buyers for assets
LV Sensors, provider of semiconductor technology for wireless sensors used in cars, has closed its doors and is pursuing buyers for its intellectual assets, reports VentureWire. Based in Emeryville, Calif., the company had no choice but to shutter after failing to raise more capital in the spring. Its past backers include Mayfield Fund, U.S. Venture Partners and Panorama Capital, contributing a total of $27 million.
Narus beefs up network security with $8.7M
Narus, provider of intelligence software to monitor network traffic and boost cyber security, has raised $8.7 million in a recapitalization round from American Capital, Mayfield Fund, NeoCarta Ventures, Panorama Capital and Walden International. The Sunnyvale, Calif., company has previously raised $90 million over five rounds of funding, reports VentureWire.
Narus says it will use the new financing to add to its sales headcount to keep up with steadily growing demand. With more enterprises relying on networking… Continue Reading
Hyperion raises $60M to battle urea cycle disorders
Hyperion Therapeutics, developer of treatments for urea cycle disorders and illnesses, has brought in $60 million in a third round of financing from Bay City Capital, Panorama Capital, Highland Capital Partners, New Enterprise Associates and Sofinnova Ventures.
Based in South San Francisco, the company recently completed phase-two clinical trials for its lead drug candidate and says the new capital will be used to push it through phase three. This therapy is targeted at patients who are… Continue Reading
Youth media ad network GoFish reels in $22.5M
GoFish, a media-based advertising network targeting six to 17-year-olds (and moms), announced that it has brought in $22.5 million in private placement funding, which it will use to pay off its $14.5 million in debt and expand its sales and marketing staff. Backers Panorama Capital, Rustic Canyon Partners and Rembrandt Venture Partners will choose whether or not to kick in an additional $2.5 million in the next few weeks, according to the structure of the… Continue Reading
Storage chip company Aristos Logic sells for $41M
Data storage company Adaptec has agreed to acquire Aristos Logic Corp for $41 million in cash, less than half the $91 million that Aristos has raised in venture backing since 2000, according to VentureWire.
The Foothill Ranch, Calif, company provides RAID (redundant array of independent disks) storage processing technology to optimize communication between servers and hard disks. its backers include Panorama Capital, Quicksilver Ventures, TPG Ventures (now TPG Growth) and Woodside Fund. It has been more… Continue Reading
Itero Biopharmaceuticals raises $21M for proteins and antibodies
Itero Biopharmaceuticals, a San Mateo, Calif. startup working with follow-on and therapeutic proteins and antibodies, raised a $21 million first round of financing and announced a partnership with Biological E., an Indian manufacturing firm.
Alongside its partner, Itero will begin development of differentiated follow-on proteins and work on securing patents and approvals for worldwide distribution, with multiple other product lines planned for the future.
SV Life Sciences, which is listed as the largest shareholder, and Panorama Capital… Continue Reading
World Golf Tour scores big round of cash, and will become more social
World Golf Tour, a company that uses Flash technology to make a realistic game for golfers, has raised a second round of financing in the double-digit millions of dollars.
The San Francisco company, which I raved about a year ago when I first tried it out, announced the funding at the VentureBeat party last night. The company isn’t disclosing the exact size of the round.
It’s now moving in that inevitable direction — to become a social… Continue Reading
Panorama Capital closes $240M fund
Panorama Capital has just closed a $240 million fund, its first fund as an independent brand.
Menlo Park, Calif.-based Panorama says it plans to invest in life sciences, the Internet, semiconductors and Internet infrastructure and services. The company has already made six new investments with the fund.
GridNetworks, raises $9.5M to take on Joost, BitTorrent, others
GridNetworks, a Seattle-based company that delivers TV-video content over broadband, has raised $9.5 million in a first round of funding. Panorama Capital led the deal, and was joined by two strategic investors that weren’t named.
We wrote about the company a year ago. It faces tough competition, but has its own technology that it says delivers high-quality video more effectively than other companies. It is a hybrid of peer-to-peer and content delivery technology, and says its… Continue Reading
Panorama Capital shrinks
Panorama Capital, a Silicon Valley venture capital firm, is losing two principals and one associate, according to VentureWire (subscription required).
The shrinkage occurs as the firm tries to raise money for its first independent fund since spinning out of J.P. Morgan last year. It plans to raise only $300 million, from an originally planned $500 million, according to an earlier report in August on PEHub.
Principals Vikram Gupta, who joined J.P. Morgan in 1998, and John Ryan,… 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
LV Sensors, secretive wireless sensor co., raises $15M
LV Sensors, an Emeryville, Calif. maker of wireless sensors for the automotive and other industries, has raised a $15 million in a second round led by Panorama Capital.
According to VentureWire (sub required), existing investors U.S. Venture Partners and Mayfield Fund also participated. The company has now raised a total of $27 million.