Tag: investment
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Start-Up Developing Gene Therapies Lands $45M in Early Funds
12 February 2014. Voyager Therapeutics, a new start-up in Cambridge, Massachusetts creating gene therapies for disorders of the central nervous system, gained $45 million in first-round financing. Third Rock Ventures, a venture capital company specializing in life science enterprises, provided the funds for the company founded by researchers at University of Massachusetts Medical School, University…
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Myriad Genetics Acquires Rheumatoid Arthritis Test Developer
Myriad Genetics Inc., a designer of genetics-based diagnostics in Salt Lake City, will acquire Crescendo Bioscience in South San Francisco, California, a developer of molecular blood tests for autoimmune diseases, particularly rheumatoid arthritis. Myriad is paying $270 million in cash, which includes repayment of an outstanding $25 million loan to Crescendo. Crescendo Bioscience, founded in…
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Pain Therapy Developer Issues IPO, Raises $55 Million
31 January 2014. Cara Therapeutics Inc., a biotechnology company in Shelton, Connecticut, issued its initial public offering (IPO), raising some $55 million. The company issued 5 million shares of common stock, priced in the range of $11 to $13 a share. At noon ET today, the stock is priced at $13.38 a share on the…
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Becton Dickinson Acquires Point-of-Care Diagnostics Maker
Becton, Dickinson and Company, a medical device manufacturer in Franklin Lakes, New Jersey is buying Alverix Inc., a developer of point-of-care diagnostics equipment in San Jose, California. The purchase price is $40 million, according to a Becton Dickinson statement. Alverix designs testing equipment for physician’s offices, retail and mobile clinics, rural settings, and homes that…
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Clinical, Drug Discovery Biotech Companies Announce Merger
Senesco Technologies, a clinical stage biotechnology company in Bridgewater, New Jersey says it has a non-binding merger agreement with Fabrus Inc. in La Jolla, California, a drug-discovery biotechnology firm. Financial details of the merger were not disclosed, although the companies plan to reveal the terms when they finalize the agreement in early 2014. Senesco develops…
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Bayer Acquires Cancer Drug Developer Algeta for $2.9B
The global pharmaceutical company Bayer Group based in Germany is buying the specialty drug company Algeta ASA in Oslo, Norway for NOK 17.6 billion (USD 2.9 billion). Algeta, developer of a radium-based drug to treat prostate cancer, says its board of directors approved the sale, subject to confirmation by shareholders. Bayer and Algeta collaborated on…
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Genome Editing Start-Up Secures $43M in First Round Funds
The Cambridge, Massachusetts start-up Editas Medicine, developing therapies based on new research in genome editing, gained $43 million in its first financing round. The funding was led by venture companies Flagship Ventures, Polaris Partners, and Third Rock Ventures, with participation from Partners Innovation Fund, the venture funding arm of Massachusetts General Hospital and Brigham and…
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Inflammation Drug Biotech Lands $32.4M in Venture Funding
Catabasis Pharmaceuticals Inc., a clinical-stage biotechnology company in Cambridge, Massachusetts, completed its second venture funding round, securing $32.4 million. The round was led by new investor Lightstone Ventures, with participation by the company’s current investors: SV Life Sciences, Clarus Ventures, MedImmune Ventures, and Advanced Technology Ventures. Catabasis Pharmaceuticals develops medications to treat cardiovascular, metabolic and inflammatory…
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3-D Printer Maker Lands $19 Million in First Venture Funds
Formlabs, a developer of three-dimensional printing technology in Somerville, Massachusetts, secured $19 million in its first venture funding. The financing round was led by venture capital company DFJ, with Pitango Venture Capital, Innovation Endeavors, and returning angel investors. Formlabs is a spin-off from MIT’s Media Lab, founded in 2011 by three engineers and designers. The…
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St. Jude Medical Acquires Leadless Pacemaker Developer
St. Jude Medical, a medical device company in St. Paul, Minnesota, is acquiring Nanostim Inc., a developer of self-contained leadless heart pacemakers in Sunnyvale, California. Shareholders in the privately owned Nanostim can receive up to $188.5 million in upfront cash and milestone payments as a result of the purchase. St. Jude Medical has a relationship…