Tag: investment
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Q3 Venture Funding Drops, Science Sectors Hit Hard
Venture capital (VC) funding for U.S. companies dropped sharply in the third quarter of 2012, with the amount of money invested declining by about a third and number of deals down by almost 10 percent compared to 2011. For the year to date, says Dow Jones VentureSource, a financial industry research service, VC funding totaled…
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Drug Developer BioCryst to Acquire Presidio Pharmaceuticals
BioCryst Pharmaceuticals Inc. in Durham, North Carolina and Presidio Pharmaceuticals Inc. in San Francisco agreed to a merger of the biopharmaceutical companies. The deal in which BioCryst acquires Presidio is an all-stock transaction valued at $101 million. The merger will combine two clinical stage drug development operations that the companies say will focus on infectious…
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Edwards Lifesciences Acquires Blood Monitor Device Company
Edwards Lifesciences Corp., a developer of cardiac and blood monitoring technology in Irvine, California, acquired BMEYE B.V., a maker of non-invasive blood-oxygen monitors in the Netherlands. The purchase price was €32.5 million ($42.0 million). Edwards Lifesciences designs and manufactures tissue replacement heart valves and valve repair products, as well as critical care, cardiac surgery systems,…
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Immunotherapy Developer Gains $4.9M in Series B Funds
Gliknik Inc., a biopharmaceutical company in Baltimore, raised $4.9 million in series B funds, the second series of financing after initial start-up. Baxter Ventures led the funding round, joined by the company’s existing investors. Gliknik is a developer of therapies for patients with cancer and immune disorders that use the power of the immune system…
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University, Companies to Build Medical Analytics Platform
University of Pittsburgh Medical Center, with four corporate technology partners, will build a comprehensive medical analytics database, integrating data from 200+ diverse research, clinical, and business sources. The two-year project is expected to cost $100 million and include the companies Oracle, IBM, Informatica, and dbMotion. Financial details of the corporate contributions were not disclosed. The…
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Health IT Accelerator Formed, Seeks Entrepreneur Applicants
Tigerlabs, a support center for start-up companies in Princeton, New Jersey, is forming an accelerator program for new companies in health care information technology. The program, known as Tigerlabs Health, is scheduled to begin in February 2013, and accepting applications through 15 November 2012. The accelerator program will provide $20,000 in seed funding, mentorship, Microsoft…
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Drug Discovery Company Lands Venture Funds, Licensing Deal
Vascular Pharmaceuticals Inc., a drug discovery company in Chapel Hill, North Carolina, secured $16 million in series A funds, the first round of financing after start-up. The company, a developer of drugs to treat complications of diabetes, also signed a licensing agreement for its lead compound with Janssen Biotech, a division of Johnson & Johnson.…
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Early-Stage Biomedical Accelerator Gains $21M Initial Funding
BioMotiv, a Cleveland company supporting early-stage medical research for commercial development into therapies, secured $21 million in its first financing round. The funds are being provided by BioMotiv’s founding investors, University Hospitals health care system in northeast Ohio and the Harrington Family of Hudson, Ohio, a supporter of translational biomedical research. The company provides financing…
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Pharma Company Allergan to Build New Jersey R&D Center
Allergan Inc., a developer of specialty pharmaceutical products, will build a new research and development center in Bridgewater, New Jersey. According to a company announcement, the the 93,000-square-foot facility is expected to employ “several hundred” employees, but neither the precise number nor types of the jobs were disclosed. Allergan, headquartered in Irvine, California, develops and…
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Biopharma Start-Up Secures $27 Million in Venture Funding
Aerpio Therapeutics, a biopharmaceutical company in Cincinnati, closed a $27 million series A financing deal, the first round of funding after initial start-up. The round was led by Novartis BioVentures with Venture Investors LLC, Triathlon Medical Ventures, Kearny Venture Partners, Athenian Venture Partners, and AgeChem Venture Fund. The company began in January 2012 as a…