Sanarus raises $3M to battle breast cancer
Sanarus Medical, maker of a device used to diagnose and treat breast cancer, brought in $3 million in convertible note funding from existing investors, reports VentureWire. It’s currently working on a product that uses ultrasound technology to detect the early stages of the disease.
The Pleasanton, Calif. company already has several devices on the market, many of which are based on cryotechnology — basically, the freezing of small, targeted sections of breast tissue — which gives… Continue Reading
Battle of the brain games: Lumos Labs raises $3 million, Fit Brains debuts
The battle of the brain games is underway. Nintendo set this trend in motion when it launched “BrainAge” for the Nintendo DS in 2006. Since then, a number of startups have sprung up and launched additional games aimed at improving the cognitive abilities of gamers with puzzles and brain teasers.
Research suggests that older adults in particular can benefit from playing games that improve memory, concentration and problem solving. Today, Lumos Labs is announcing it has… Continue Reading
Live Gamer lands $24M for virtual good trading
A new portal for trading virtual goods called Live Gamer announced its first funding today, promising to add some structure and protections to online transactions.
As massively multi-player online games (MMORPGS) like World of Warcraft have gained popularity, real-world markets have sprung up for everything from online currency and items, to favors, to entire player accounts. For the most part, players buy and sell with no oversight or regulation, a situation Live Gamer promises to change.
Live… Continue Reading
Life sciences briefing: Monday, Aug. 27, 2007
Featured companies: Bravo Health, InfraReDx, MedAssets, Prestwick Pharmaceuticals
Prestwick Pharma raises $20M for neuro drugs — Specialty pharma Prestwick Pharmaceuticals, a Washington, D.C., firm that acquires cast-off drug candidates to treat neurological conditions, raised $20 million from existing investors, VentureWire reports (subscription required). Among those participating in the funding were Atlas Venture, Sofinnova Ventures, Vivo Ventures, Scale Venture Partners, Warburg Pincus and Pequot Ventures.
Prestwick said it raised the funds to acquire additional drug candidates. The company filed… Continue Reading
Horizon Therapeutics: Combining generic pain meds for greater drug safety
Palo Alto, Calif.-based Horizon Therapeutics, a biotech that aims to combine existing generic drugs to fight pain, raised $30 million in a third funding round. The company’s lead drug candidate, known only as HZT-501, is a “proprietary” combination of the generic drugs ibuprofen and famotidine, the latter of which is better known by its brand name Pepcid. It’s aimed at providing pain relief without gastrointestinal discomfort or injury, which is the same claim made by… Continue Reading
Ablation Frontiers raises $22M for treating arrythmia
Ablation Frontiers, a Carlsbad, Calif., developer of devices for treating irregular heartbeats known as cardiac arrythmias, raised $21.8 million in a third funding round. The Novartis Venture Fund led the round, joined by Affinity Ventures, Hexagon Investments, Trellis Health Ventures, Versant Ventures, Aberdare Ventures, and Pequot Ventures.
Ablation Frontiers apparently aims to use radio energy, directed by a catheter, to burn away malfunctioning heart tissue that contributes to arrythmia. The company’s Catheter Ablation System has been… Continue Reading
Paracor raises $44M for heart-failure device that restrains the heart
(UPDATED: See below.) Paracor Medical, a Sunnyvale, Calif., startup developing a mesh restraint designed to support failing hearts, raised $44.35 million in a fourth round of funding. The company is vying with another device startup, Acorn Cardiovascular, to prove that this sort of device works and to bring it to market.
The idea behind Paracor’s device, which it calls HeartNet, is simple. In heart failure, a general term for a variety of similar conditions with different causes, the… Continue Reading
DiObex, a metabolic disease treatment co., raises $24M
DiObex, a San Francisco biopharmaceutical company focused on treatments of metabolic diseases, said it has raised $24 million in a second round of financing.
The round was led by Inventages Venture Capital (Switzerland). Also joining the round are new investors Mitsui Ventures (Japan) and Pac-Link BioVentures (Taiwan), together with Series A investors Domain Associates, Pequot Ventures and Sofinnova Ventures, the company said.
The funds raised will be dedicated to the progression of DiObex’s two lead drug… Continue Reading
Summit Micro, a chip power management co., raises $10M
Summit Microelectronics, a Sunnyvale, Calif. maker of programmable power management integrated circuits, said it raised $10 million.
Nokia Growth Partners led with $4 million, and was joined by existing investors Norwest Venture Partners, August Capital, Pequot Ventures, Bessemer Venture Partners, Hotung Capital Management and others.
According to the company’s statement:
Mobile phones no longer just make voice calls, but connect to the Internet and act as our mobile camera, music player, navigation device, and even our mobile… Continue Reading
Horizon Therapeutics, stomach ulcer treatment co., raises $15M
Horizon Therapeutics, a Palo Alto company close to bringing its stomach ulcer drug into the third and last set of clinical trials, said it has raised $15 million in a second round of funding.
Its lead product is HZT-501, a “GI-friendly” prescription NSAID.
Scale Venture Partners, formerly known as BA Venture Partners, led the round. Sutter Hill Ventures and Pequot Ventures also participated. The Company completed a $6 million first round in October 2005 with the same… Continue Reading