Featured companies: Alpex Pharma, Applied Computational Technologies, Separation Design Group, ThermalTherapeutics Systems
Switzerland’s Alpex Pharma raises $9M for plop, plop, fizz, fizz drugs– Alpex Pharma, a Mezzovico, Switzerland drug-formulation company, raised $9 million (CHF 10.9 million) in a second round of funding. Investors included BB Biotech Ventures and Signet Healthcare Partners.
The company essentially reformulates pharmaceuticals for other companies with technologies that make pills melt quickly, allowing them to be taken without water, or to “effervesce” — that is, dissolve — in liquid, much like Alka-Seltzer. Founded in 1988 under the name Aesculapius Pharma, Alpex was acquired by Elan Pharmaceuticals in 1992. Private-equity funds controlled by Sanders Morris Harris then acquired a majority interest in 2004 and changed the company’s name to Alpex.
Pittsburgh Life Sciences Greenhouse invests $450K in three firms — The Pittsburgh Life Sciences Greenhouse, which we last covered in the sixth item in this daily briefing, has struck again, funding three local companies to the tune of $450,000. The public-private partnership invested $200,000 in ThermalTherapeutics Systems, which is working on a more efficient pump for chemotherapy drugs. Applied Computational Technologies received a $150,000 investment for development of a radiation-dose calculation engine. Medical-oxygen concentrator Separation Design Group received $100,000.
Split Rock Partners names Jagi Gill entrepreneur-in-residence — Split Rock Partners, a VC firm with offices in Minneapolis and Menlo Park, Calif., made medical-device executive Jagi Gill an entrepreneur-in-residence. Gill, currently chairman of PhysioStream and the former CEO of Sage Medical Technologies, will aim to seed new medical-device companies for the firm.
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