Tag: investment
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Image Analysis Company Raises $800K for New Venture
16 February 2015. Glencoe Software Inc., a developer of image analysis and management software for research and pharmaceutical applications, raised $800,000 to fund a new venture in digital pathology. Financing for the Seattle company’s venture is provided by TIE Angels Group – Seattle and several other local angel investors. Glencoe is the commercialization arm of…
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Intrexon Acquires Biopharm Company for $60M
13 February 2015. Intrexon Corp., a biotechnology company in Gaithersburg, Maryland specializing in synthetic biology, is acquiring ActoGeniX, developing biologic therapies from engineered microbes. Under the deal, stockholders of ActoGeniX, based in Ghent, Belgium, are receiving $30 million in cash plus another $30 million in Intrexon stock. ActoGeniX develops therapies from engineered microbes, particularly Lactococcus…
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Report: U.S. Edge in Advanced Industries Slipping
5 February 2015. A new report from Brookings Institution says the United States is losing ground to overseas competitors in critical advanced industries that hold the key to the country’s long-term economic future. The study by the Washington, D.C. think tank was discussed in a forum today with six CEOs of U.S. companies and the…
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Biochemistry Spin-Off Formed, Gains $45M Funding
4 February 2015. Revolution Medicines Inc., a spin-off enterprise based on research in protein chemistry at University of Illinois, is starting up with $45 million in first-round venture funds. The company is founded by Illinois biochemistry professor Martin Burke, and initially financed by Third Rock Ventures, a San Francisco venture capital firm. Burke’s lab in…
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Neuro Disease Biotech Raises $20M in Early Funds
3 February 2015. Lysosomal Therapeutics Inc., a biotechnology company developing treatments for inherited neurodegenerative disorders, raised $20 million in its first venture funding round. The Cambridge, Massachusetts enterprise, begun last year, is backed by several venture capital funds and pharmaceutical companies. Lysosomal Therapeutics is based on the research of Dimitri Krainc, a neurologist now at Northwestern…
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Gene Therapy Biotech Raises $161M in IPO
30 January 2015. Spark Therapeutics Inc., a biotechnology company in Philadelphia, is raising $161 million in its initial public stock offering. The company, developing genetic therapies for inherited diseases, priced 7 million shares of its common stock at $23.00 a share. The stock trades on the NASDAQ exchange under the symbol ONCE, and as of…
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Cancer Therapy Spin-Off Formed with $45M Funding
22 January 2015. Autolus Ltd., a new enterprise developing engineered immune-system cells for treating cancer, is being formed in London, with £30 million ($45.4 million) in early financing. The company is founded and commercializing research by Martin Pule, a hematologist at University College London. Pule, who serves as Autolus’s chief scientist, studies T-cells, white blood…
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Zymeworks, Celgene to Develop Double-Binding Antibodies
21 January 2015. Zymeworks Inc., a biotechnology company in Vancouver, Canada and pharmaceutical maker Celgene Inc. are developing biologic therapies using Zymeworks’ antibody technology. The deal makes Zymeworks eligible for up to $164 million from Celgene for each candidate developed under the partnership, as well as an unspecified initial payment and equity investment. Under the…
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Behavioral App Developer Lands $20 Million in Venture Funds
13 January 2015. Ginger.io, a company in San Francisco developing smartphone apps for monitoring mental state and wellness, raised $20 million in its second venture financing cycle. The new funding was led by first-round investors Khosla Ventures and True Ventures, with participation by undisclosed new investors. Ginger.io, a spin-off from human dynamics research at MIT’s…
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Roche Buys $1 Billion Stake in Cancer Genetics Company
12 January 2015. Pharmaceutical company Roche is acquiring a majority stake in Foundation Medicine, a company conducting personal genomic analyses for cancer patients. The investment, licensing, and collaboration deal is expected to bring Foundation Medicine, in Cambridge, Massachusetts more than $1 billion. Foundation Medicine — founded by scientists at Dana-Farber Cancer Institute, Harvard Medical School,…