Science and Enterprise

Tag: equity

  • Pfizer Spins Off Animal Health Unit, Raises $2.2B in IPO

    The pharmaceutical company Pfizer Inc. in New York created a new enterprise, Zoetis, from its former animal health division. The new company raised $2.2 billion in its initial public offering, and will trade on the New York Stock exchange under the symbol ZTS. Zoetis, based in Madison, New Jersey, discovers and develops veterinary vaccines and…

  • Cancer Data Start-Up Lands $8 Million in Venture Funds

    Flatiron Health in New York, developing data analytics for cancer research and therapeutics, secured $8 million in series A funding, the first round of financing after initial start-up. The investment round was led by Google Ventures, with First Round Capital, Laboratory Corporation of America, Great Oaks Capital, The Social+Capital Partnership, SV Angel, IA Ventures and…

  • Foundation Medicine Adds $13.5 Million to Series B Funds

    Foundation Medicine, a genomic diagnostics company in Cambridge, Massachusetts, added $13.5 million to its current venture funding, bringing its series B  round — the second financing cycle after start-up — to $56 million. The new investors include entrepreneurs and venture financiers Bill Gates, Evan Jones, and Yuri Milner. Foundation Medicine, founded by scientists at the…

  • Genetic Tech Company to Acquire Prenatal Test Developer

    Illumina Inc., a developer of genetic diagnostics systems in San Diego, will acquire Verinata Health Inc. in Redwood City, California, a provider of non-invasive prenatal tests for high-risk pregnancies. The deal will pay Verinata Health $350 million, with up to $100 million in additional milestone payments through 2015. Illumnia offers technology for research and diagnostics,…

  • Mergers, IPOs for Venture-Backed Companies Down in 2012

    Initial public offerings (IPOs) and mergers and acquisitions (M&As) of venture-backed companies in the U.S. declined overall in 2012 and in the last quarter of the year. Financial industry analytics service Dow Jones VentureSource says the Facebook IPO in May 2012 influenced much of the activity and money raised during the year. During 2012, a…

  • Covidien to Acquire Blood Vessel Device Developer

    Covidien — a maker of medical devices, pharmaceuticals, and health care supplies based in Dublin, Ireland — agreed to acquire CV Ingenuity in Fremont, California, a developer of a device to treat peripheral artery disease. Financial terms of the deal, expected to be completed in the first quarter of 2013, were not disclosed. Peripheral artery…

  • Synthetic Sugars Developer Lands $3.5M Venture Financing

    Proterro Inc. in Ewing, New Jersey, a developer of synthetic sucrose for biofuels and chemicals, secured $3.5 million in new venture financing. The company also says the U.S. Patent and Trademark Office (USPTO) issued a notice of allowance for the genetically engineered bacteria used in its production process. The company combines genetic engineering with chemical…

  • University Biotech Spinoff Secures $38M Venture Funding

    Naurex Inc., a spin-off company from Northwestern University creating neurological and psychiatric drugs, closed a $38 million series B venture round, the second financing cycle after start-up. Financing for the Evanston, Illinois biotechnology company was led by new investor Baxter Ventures, and joined by new investor Savitr Capital, as well as 10 current backers including…

  • New Life Sciences Venture Fund to Invest in Europe, U.S.

    Sofinnova Partners, a venture capital company in Paris, closed its seventh fund focusing on investments in life sciences start-up companies, valued at €240 million ($312 million). Sofinnova Partners is affiliated with Sofinnova Ventures, a life sciences venture capital company in Menlo Park, California. The company says contributors to the Sofinnova Capital VII fund are major…

  • Amgen Purchases Diagnostics Developer deCODE Genetics

    Amgen, a biotechnology company in Thousand Oaks, California, acquired deCODE Genetics, a developer of genetic disease risk assessment tests in Reykjavik, Iceland in an all-cash transaction valued at $415 million. Amgen says the transaction does not require regulatory approval and is expected to close before the end of 2012. deCODE Genetics offers genetic scans for…