Intransa raises $1.5M for Ethernet storage
Instransa, provider of storage equipment for Ethernet networks, has brought in $1.5 million of a targeted $3 million offering of promissory notes, according to a filing with the SEC. Based in Cupertino, Calif., the company is backed by Entrepia Ventures, Guggenheim Partners, Menlo Ventures, Rho Capital Partners and U.S. Venture Partners.
RuggedCom buys WiMax equipment provider WiNetworks
RuggedCom, a public company that makes networking equipment that works in unfavorable environments, has acquired WiMax equipment developer WiNetworks for $9 million. It will also take on $5 million in debt from the Israeli company. Rugged hopes that the deal will add to its arsenal as it eyes the burgeoning Smart Grid sector. Many networking companies are looking to ride the wave toward a cleaner, more efficient electrical grid, offering their services to help transmit… Continue Reading
Anacor takes $50M to treat fungal infections
Anacor Pharmaceuticals, a Palo Alto, Calif. firm working on topical treatments for fungal infections in nails, just got a $50 million infusion in a fifth round of funding. This is pretty good news for a company that had to withdraw its IPO filing just two weeks ago due to poor market conditions.
This brings its total capital raised to $87 million, but the recent money is a big jump from the $5 million fourth-round it raised… Continue Reading
Drug developer Anacor cancels IPO plans
Biotech firm Anacor Pharmaceuticals has withdrawn its filing to go public after an arduous 16-month wait (unprecedented for health care enterprises, reports VentureWire). The Palo Alto, Calif.-based company says the market is not optimal to hit its target of $57.5 million in the sale.
Anacor, currently working on a therapy to treat nail fungal infections, had earmarked $49 million of that sum for further research and development of its lead drug candidate. It had already struck… Continue Reading
Life sciences briefing: Thursday, Feb. 7, 2008
TODAY’S HEADLINES:
Aptamer-drug maker Archemix withdraws its $72.5 million IPO (Edgar)
OraMetrix raises $20M for robotic orthodontic systems (peHUB)
Microarray maker TeleChem goes public via reverse merger (release)
BioVascular pulls in $11M for platelet-disease treatments (release)
Cequent Pharma adds $4.5M for for RNAi drugs (VentureWire)
CareSeek, online medical-rating service, gets $575K, looks for $5M (VentureWire)
Satiogen takes in $700K for obesity treatment (VentureWire)
Dilon Tech appoints Robert Moussa as CEO (release)
Aptamer-drug maker Archemix withdraws its $72.5 million IPO – I’ve expanded this news into… Continue Reading