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
Cardio drug maker Portola Pharmaceuticals takes $60M extension
San Francisco-based drug company Portola Pharmaceuticals has taken a $60 million extension to its third round of funding to see it through Phase II trials for betrixaban, a drug intended to prevent blood clots.
The company is also working on an antiplatelet agent called PRT060128. If its drugs do well in trials, the company will likely head to an IPO, as we reported alongside its last $70 million fundung.
Managing Application Performance by Understanding Applications Learn more,… Continue Reading
ConSentry, raises $21M for a switch to rival Cisco
ConSentry, a Silicon Valley startup that says its Internet network switches are more efficient than those of giant incumbent Cisco, has raised a $21 million round of funding.
Switches are components that route traffic from through the wider Internet network.
However, large corporations that buy switches to route their traffic often demand security feature to control access (sometimes called Network Access Control). As networks have become faster, security has become more of a challenge, Consentry said.
ConSentry’s switches… 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
Ketera, on-demand spend company, raises $14 million from “Coattail Ventures” and others
Ketera, a Santa Clara company that provides online software to give companies insight into the purchases they’re making, has raised $14 million more in financing.
The company called it a “mezzanine” round, suggesting it is the last round before the company gets sold or goes public. It was led by DAG Ventures. Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan, in another new investor.
The round continues DAG’s strategy of following investments… Continue Reading