Satiety fills up on $25.3M for obesity treatments
Satiety, maker of a minimally-invasive medical device that reduces obesity, has raised $25.3 million of an anticipated $33 million round of equity and rights, according to a filing with the SEC. The Palo Alto, Calif. company was previously backed by HLM Venture Partners, Morgenthaler Ventures, Pinnacle Ventures, Skyline Ventures, Thomas Fogarty, Three Arch Partners and Venrock. It has raised four rounds of funding to date, not including a $7.5 million bridge loan from its investors… Continue Reading
Satiety secures $7.5M bridge for tummy tuck shortcut
Satiety, maker of a minimally-invasive device that shrinks stomach capacity via the mouth, has landed a $7.5 million bridge loan from its existing investors — a group that includes Skyline Ventures, HLM Venture Partners, Pinnacle Ventures, Morgenthaler Ventures, Three Arch Partners, Venrock and medical inventor Thomas Fogarty, reports VentureWire.
Based in Palo Alto, Calif., the company is still developing its lead product, called the TOGA System, which makes users feel sufficiently full after eating very little…. Continue Reading
SpinalMotion stacks up $500K for fake spinal discs
Artificial spinal disc producer SpinalMotion, just tacked $500,000 onto its $20 million third round of funding through a patent licensing agreement with an unnamed corporation. Based in Mountain View, Calif., the company makes both cervical and lumbar artificial discs that are still undergoing clinical trials. It plans to request product approval from the Food and Drug Administration by the middle of the year, reports VentureWire. At that point, it will probably seek out a fourth… Continue Reading
BioLogix bags $6M for oncology drug, names new CEO
Biopharm company BioLogix raised $6 million in first-round equity and debt financing from Essex Woodlands Health Ventures and New Science Ventures. The money will be used to continue development of its top cancer-fighting compound, but a second round is already in the works.
So far the Palo Alto, Calif.-based firm has brought in $40 million. It hopes to take enough in its next fund-raising effort by early 2009 to push the drug into clinial testing, setting… Continue Reading
InterKrin raises $18.5M for continued work on diabetes drug
Palo Alto, Calif.-based InterKrin is developing an anti-diabetes drug. It has raised an $18.5 million in a not-yet-closed third round of funding, according to VentureWire. The round was led by Amgen and Skyline Ventures and joined by existing backers Sofinnova Ventures, OrbiMed Advisors, Asset Management, Sears Capital Management and Vivo Ventures.
Novasys Medical takes $49.5M for women’s medical device
Novasys Medical is a Newark, Calif. medical company that makes a device for a specific condition affecting some women, called female stress urinary incontinence.
The device Novasys makes is the only real alternative to surgery for women with the problem, according to an interview with the CEO in VentureWire, which also reported the funding.
The $49.5 million was led by Versant Ventures, with participation from Skyline Ventures, Three Arch Partners, Affinity Capital Management, Alloy Ventures, Delphi Ventures,… Continue Reading
Life sciences briefing: Friday, Sept. 28, 2007
Featured companies: Imalux, Sagent Pharmaceuticals, Sequel Pharmaceuticals, Sinexus, TranS1, U.S. Spinal Technologies
Sagent Pharmaceuticals draws in $53M for injectable generics — Sagent Pharmaceuticals, proving that there’s still life in the apparently lucrative but boring specialty-pharmaceuticals business, raised $53 million in a first funding round. Vivo Ventures led the round for the Schaumburg, Ill., company.
Like other specialty pharmas, Sagent essentially picks up abandoned or cast-off drugs from other companies and tries to make them work in new ways…. Continue Reading
Life sciences briefing: Thursday, Sept. 6, 2007
Featured companies: Cyntellect, Lectus Therapeutics, NeoMatrix, Nexstim, Pearl Therapeutics, Proteon Therapeutics, SupplyScape
(UPDATED at 10am PT: See below.)
Airway-disease specialist Pearl Therapeutics raises $15.5M — Redwood City, Calif.-based Pearl Therapeutics, a drug-formulation company focused on respiratory disease, raised $15.5 million in a first funding round. Investors included New Leaf Ventures, Clarus Ventures and 5AM Ventures.
Pearl doesn’t appear to have a working Web site yet, but according to its release, the company aims to treat unspecified airway diseases using “particle… Continue Reading
Satiety pulls in $30M for obesity device
Satiety, a Palo Alto, Calif., device maker focused on obesity, raised $30 million in a fourth round of funding. Skyline Ventures led the round, joined by HLM Venture Partners, Pinnacle Ventures, Venrock, Three Arch Partners, Morgenthaler Ventures and Thomas Fogarty.
Satiety is developing a minimally invasive device for stomach-reduction surgery consisting of a stapling tool that can be passed down the throat into the stomach. The company was founded in 2001.
Arca Discovery raises $18M for cardiovascular drug
Arca Discovery, a Denver developer of a next-generation beta blocker for heart failure, raised $18 million in a second funding round. (The release is out, but not yet available on the Web.) The round was led by Skyline Ventures and joined by Interwest Partners, Atlas Ventures, Boulder Ventures and the Peierls Foundation.
Later this year, Arca plans to file for FDA approval of bucindolol, a failed beta-blocker designed to lower heart rate and blood pressure in… Continue Reading
MAP Pharma raises $50M for respiratory and CNS disease treatments
MAP Pharmaceuticals, a Mountain View, Calif, developer of treatments for respiratory and central-nervous-system diseases, said it raised $50 million in a fourth round of venture funding.
See statement here.
New investor, the D.E. Shaw group, joined previous investors, including Perseus-Soros Biopharmaceutical Fund, Pequot Ventures, Brookside Capital, Bay City Capital and Skyline Ventures.
MAP recently completed the second phases of clinical trials for its treatments for pediatric asthma and migraine. The company plans to use the new funds… Continue Reading
DiscoveRX raises $5M more for drug research technology
DiscoveRx, a Fremont, Calif. company that offers biochemical and cell-based assays to make drug research more efficient, has raised $5 million more to its second round of funding, VentureWire reports (sub required).
This adds to $21.2 previously raised in 2000 and 2002.
Ivestors included previous invetors, Alta Partners, eHealth Technology Fund, Morgan Stanley Venture Partners and Skyline Ventures.
Hansen Medical, a medical robotics co., raises $75M in IPO
Hansen Medical, a Mountain View medical robotics company, raised $75 million in its initial public offering, after pricing its 6.25 million shares at $12, within its $11 to $13 forecast. The shares represent about 30 percent of the company.
Hansen will trade on the Nasdaq under the symbol HNSN.
The company had raised more than $50 million in funding from Prospect Venture Partners, Skyline Ventures, Thomas Weisel Healthcare Partners, De Novo Ventures and Vanguard Ventures.
Amgen to buy inflammation drug co. Avidia for up to $380M
Biotech giant Amgen said it has agreed to buy Mountain View-based Avidia for up to $380 million.
Under the accord, expected to be completed this year, Amgen of Thousand Oaks will pay $290 million in cash and up to $90 million more if Avidia meets certain milestones developing its drugs.
Avidia has only 37 employees, and at $380M, that means each employee is responsible for more than $10M, if they do get the full price. The company… Continue Reading