Life sciences briefing: Tuesday, Aug. 28, 2007
Featured companies: ProNAi, Rubicor
ProNAi raises $2M for IV cancer drugs — ProNAi, a Kalamazoo, Mich., biotech focused on intravenous cancer drugs, raised $2 million toward a $4 million bridge round, VentureWire reports (subscription required). The company aims to raise a $25 million second round later tihs year. Its investors include Apjohn Ventures, Sigvion Capital, Amherst Fund, Grand Angels, the Michigan Economic Development Corp., the Biosciences Research Commercialization Center and the Michigan Technology Tri-Corridor.
ProNAi develops drugs based… Continue Reading
Sigvion Capital aims for $100M healthcare-startup fund
Sigvion Capital, a Chicago VC firm specializing in life-science investing, hopes to raise between $50 million and $100 million for its second fund, VentureWire reports (subscription required). The firm anticipates a boom in healthcare startups in the Great Lakes region.
Logical Therapeutics raises $30M, relocates to Boston area
Pittsburgh-based Logical Therapeutics, a developer of drugs for inflammation and metabolic disease, raised $30 million in a second funding round and announced it is moving its headquarters to a location “near Boston.” (What are the odds that the new location might be Cambridge, the hub of biotech and pharma activity in the region?)
Logical has acquired all of its drug candidates from other companies or institutions, including the University of Pittsburgh, which isn’t particularly surprising given… Continue Reading