Fast gene sequencing in two years? Investors bet $100M on Pacific BioSciences making it happen
Representing a potential medical quantum leap similar to, but even more important than the commercialization of X-ray imaging, Pacific BioSciences has taken a whopping $100 million to make it possible to affordably map out an individual’s entire genome in a matter of minutes, and for under $1,000 dollars.
While several startups, including 23andMe and deCODEme, are already offering cheap genetic testing for individuals, the technology Pacific Bio is looking at is about as different from those… Continue Reading
QuatRx Pharma draws $44M after pulling IPO
Ann Arbor, Mich., specialty pharmaceutical company QuatRx Pharmaceuticals raised $44 million in a fifth funding round following the withdrawal of its initial offering last July. Like the much better-known Jazz Pharmaceuticals, QuatRx acquires drugs from other companies in order to push them through clinical development, supposedly with a minimum of risk. That helps account for the fact that its first four drugs in human testing cover a grab-bag of conditions ranging from vaginal atrophy (don’t… Continue Reading
Cardiovascular biotech Portola Pharmaceuticals raises $70M, eyes IPO
Portola Pharmaceuticals, a South San Francisco, Calif., biotech aiming to develop treatments for blood clots and other heart-related problems, raised $70 million in a third round of financing dominated by late-stage and public-market investors.
Among new investors in the round were Brookside Capital; AllianceBernstein; Teachers’ Private Capital, the private investment arm of Ontario Teachers’ Pension Plan; Goldman Sachs, T. Rowe Price, IBTM and CIDC. They were joined by existing investors Abingworth, Alta Partners, Advanced Technology Ventures,… Continue Reading
Metabolex raises $32 million for metabolic disease treatment
Hayward, Calif.’s Metabolex, a biotech company developing treatments for diabetes and related metabolic disorders, said it has raised $32 million in a fourth round of financing.
It was led by MPM BioEquities. New investors AllianceBernstein, Deerfield Management and T. Rowe Price also participated in the round, joined by existing investors Alta Partners, Bay City Capital, Biotech Turnaround Fund, Birchmere Ventures, Johnson & Johnson Development Corporation, KBC Funds, Lombard Odier Darier Hentsch, Pictet Funds (LUX) – Biotecho,… Continue Reading