Tag: investment
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Biotech Company to Go Public in $86 Million IPO
GlycoMimetics Inc., a biotechnology company in Gaithersburg, Maryland, filed its registration with the U.S. Securities and Exchange Commission for a proposed initial public offering (IPO) of common stock. Fortune Magazine’s Term Sheet page reports the company aims to raise $86.25 million through the IPO, and trade on the Nasdaq exchange under ticker symbol GLYC. GlycoMimetics…
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Investment Fund to Finance Global Health Technologies
A consortium of private sector, foundation, and government partners formed the Global Health Investment Fund, to finance higher-risk, late-stage development of vaccines and other public health innovations in low-income countries. The fund is led by the bank JPMorgan Chase and the Bill & Melinda Gates Foundation, with contributions from Grand Challenges Canada (funded by the…
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Biotech Financing Up, Licensing Down in First Half of 2013
The biotechnology industry experienced healthy growth in venture financing and valuations in the first half of 2013, but licensing deals — a prime source of biotech revenue — were flat during the period, pointing to limits on the industry’s growth potential. This accounting of biotech industry financial activity is described in a report from Evaluate…
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Lab-On-Chip Diagnostics Company Lands $2.1M Angel Financing
ChipCare Corp., a spin-off company from University of Toronto in Canada developing hand-held diagnostics devices to replace fixed expensive lab equipment, secured $2.05 million in early stage angel financing. The deal combines investments from university, private-sector, and Canadian government sources, according to an announcement by Grand Challenges Canada, a government-financed organization supporting medical innovations in…
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Biopharm Raises $45.9M in Venture Funding for Ear Disorders
Otonomy Inc., a biopharmaceutical company in San Diego specializing in middle and inner-ear disorders, collected $45.9 million in its third venture financing round. OrbiMed Advisors, a venture capital company specializing in health care investments, led the round with new investors Aperture Venture Partners and Osage University Partners taking part, along with current investors Avalon Ventures,…
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Medtronic Acquires Telemedicine Systems Developer
Medtronic Inc., a medical device company in Minneapolis, Minnesota, is buying Cardiocom, a developer of telemedicine systems in nearby Chanhassen, Minnesota, in an all-cash transaction valued at $200 million. Medtronic’s devices currently help treat cardiac and vascular diseases, diabetes, and neurological and musculoskeletal disorders. Cardiocom, founded in 1999 and privately held, builds solutions for home…
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GSK Starts Venture Fund for Nerve-Signal Devices, Medicines
The pharmaceutical company GlaxoSmithKline is starting a venture capital fund to invest in companies making therapeutic devices and medications harnessing the body’s electrical signaling system. The fund, called Action Potential Venture Capital (APVC) Ltd. will have $50 million, with its first investment in a California company developing a device to regulate nerve signals for treating…
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Genomics Therapy Company Secures $60M Venture Financing
Dicerna Pharmaceuticals Inc., in Watertown, Massachusetts, closed its third round of venture financing after start-up with $60 million in additional capital from new and current investors. Dicerna is a six year-old biotechnology company developing therapies harnessing genomic material to silence genes causing diseases. Dicerna’s technology is based on ribonucleic acid or RNA interference (RNAi), a…
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Actelion to Acquire Developer of Rare Cancer Treatment
Actelion Ltd, a biopharmaceutical company based in Switzerland, acquired Ceptaris Therapeutics Inc., a specialty pharmaceutical developer in Malvern, Pennsylvania, in a deal with a potential value of at least $250 million. The acquisition, however, depends on the U.S. Food and Drug Administration approving Ceptaris’s only current product, a topical treatment for symptoms from a rare…
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TB Diagnostics Developer Gains $1.5M in Early Financing
TB Biosciences, a biotechnology company in Bethlehem, Pennsylvania developing genomics-based diagnostics for tuberculosis, received $1.5 million in its first fund-raising round after initial start-up. The financing was led by Bethlehem venture capital company Originate Ventures, joined by Ben Franklin Technology Partners of Northeastern Pennsylvania and the NYU Innovation Venture Fund. Tuberculosis, or TB, is a…