Tag: investment
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St. Jude Medical Invests in Pain Therapy Device Developer
Medical device manufacturer St. Jude Medical in St. Paul, Minnesota is investing $40 million in pain therapy systems developer Spinal Modulation Inc. in Menlo Park, California. The equity investment deal, says St. Jude Medical, includes an option for the outright purchase of the privately-owned Spinal Modulation. Under the agreement, St. Jude Medical becomes the exclusive…
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Bill Gates, VC Finance Science Collaboration Network
ResearchGate, an online network to encourage collaboration among scientists and sharing of research data, based in Berlin, closed a $35 million series C financing round, the third cycle of venture funding after start-up. The round was led by Microsoft founder Bill Gates and later-stage venture capital (VC) company Tenaya Capital. ResearchGate is a five-year old…
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AstraZeneca Acquires Omega-3 Fatty Acid Drug Developer
The global pharmaceutical company AstraZeneca is buying the specialty pharmaceutical maker Omthera Pharmaceuticals in Princeton, New Jersey for $323 million, or $12.70 per share, an 88 percent premium over Omthera’s closing price of $6.75 per share on Friday. Omthera shareholders may also receive up to $4.70 per share in further milestone-achievement payments. Omega’s only product…
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Airborne Wind Energy Systems Company Acquired by Google
Makani Power Inc., a company in Alameda, California developing airborne wind energy systems that fly in the air like kites, was acquired by Google, according to the company’s Web site. Financial terms of the acquisition were not disclosed. The company says its wind energy system operates like a wind turbine, but is flown from 250…
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Mayo Clinic, Cancer Genetics Form Cancer Diagnostics Venture
The Mayo Clinic in Rochester, Minnesota and Cancer Genetics Inc. in Rutherford, New Jersey formed OncoSpire Genomics, a joint venture to develop personalized cancer diagnostics based on next-generation genomic sequencing. Financial aspects of the deal were not disclosed. Cancer Genetics develops tests to discover genetic abnormalities, particularly those leading to personalized management of cancer. Among…
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Start-Up Creating Audio Technology from UC Davis Research
A two year-old company spun-off from University California in Davis is designing a new type of audio experience based on research in the school’s engineering department. Dysonics Inc., located in San Francisco, was founded by three Davis engineering faculty members, bringing to market more than a decade of research on multi-dimensional audio from the university’s…
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Nimbus, Shire Partner on Rare Genetic Disease Drug Discovery
Nimbus Discovery, a biotechnology company in Cambridge, Massachusetts will discover and develop new small-molecule drug candidates to treat a set of rare genetic disorders, for the specialty pharmaceutical company Shire plc based in Ireland. Under the deal, Shire will provide Nimbus with periodic milestone payments, and while financial details of the agreement were not disclosed,…
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Venture Funding Declines in Q1, Health Companies Buck Trend
Venture capital funding in the U.S. declined in the first quarter of 2013, continuing a trend begun in 2011, but companies in the health care sector, particularly those based on scientific discovery, played a prominent role in the quarter’s venture transactions. VentureSource, a service of financial publishers Dow Jones, released the first quarter data today.…
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Thermo Scientific Acquires Sequencing Technology Developer
Thermo Fisher Scientific, a maker of laboratory instruments and technologies in Waltham, Massachusetts acquired the genomic sequencing systems developer Life Technologies in Carlsbad, California for $13.6 billion in cash and debt assumption. In the deal, Thermo Fisher Scientific will pay $76.00 per share and assume Life Technologies’ net outstanding debt, valued at $2.2 billion. Life…
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Agriculture Biotech Secures $14.5M in Early-Stage Financing
AgBiome LLC, an agricultural biotechnology company in Durham, North Carolina, gained $14.5 million in series A venture funding, the first round of financing after initial start-up. Polaris Partners, a venture capital company in Boston specializing in health care and technology startups, led the round, joined by ARCH Venture Partners, Harris & Harris Group, Innotech Advisers,…