Tag: investment
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Biotech Lands $20M Series A Funds for Protein Therapies
Eleven Biotherapeutics in Cambridge, Massachusetts has secured an additional $20 million in series A funds, the first round of investment financing after initial start-up. A new investor, JAFCO Company Ltd in Tokyo, joins existing investors Third Rock Ventures and Flagship Ventures in the deal. Eleven Biotherapeutics is expected to use the proceeds from the financing…
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Investors to Back Start-Ups That Cut Health Care Costs
The Paliwoda Group in New York has started a new investment fund that plans to support early-stage companies with solutions aimed at cutting the costs of health care. The company’s Health Tech Fund is now accepting proposals on its Web site. The Health Tech Fund plans to invest in early-stage companies with projects having the…
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Cancer Institute Spin-Off Lands New €3 Million Financing
iTeos Therapeutics SA, a drug discovery company in Gosselies, Belgium, has secured €3 million ($3.94 million) in series A financing, the first investment round after starting up. The company received its initial seed funding, totaling €6 million, in December 2011. iTeos Therapeutics is a joint spin-off company of the Ludwig Institute for Cancer Research in…
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Biopharm Lands $25M Venture Funding for Phase 3 Trial
Argos Therapeutics Inc., a biopharmaceutical company in Durham, North Carolina, says it secured $25 million in series D venture financing, the fourth funding installment after initial start-up. The funds are expected to support a planned clinical trial of Argos Therapeutics’ immunotherapy for metastatic renal cell carcinoma, a form of kidney cancer. The financing was led…
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AstraZeneca to Acquire Biotech for $1.26 Billion
The global pharmaceutical maker AstraZeneca says it will acquire Ardea Biosciences Inc., a biotechnology company in San Diego developing small molecule therapies. The deal is valued at $1.26 billion, with AstraZeneca paying $32.00 a share, a 54 percent premium over Ardea’s closing price on Friday 20 April. Ardea’s most advanced drug candidate is lesinurad taken…
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U.S. Venture Deals, Dollars Decline in Q1 2012
Companies in the U.S. raised less money in fewer venture capital deals during the first three months of 2012 compared to the same period last year, according to data compiled by Dow Jones VentureSource. Some science-based sectors fared better than others during this period, while venture capital (VC) investors generally showed more interest this year…
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Biotech Company Secures $38 Million Series D Funds
Alder BioPharmaceuticals Inc. in Bothell, Washington says it closed $38 million in financing today to support clinical studies of its two lead compounds. The series D round, the fourth financing installment after initial start-up, is led by Novo Ventures, the venture capital subsidiary of Danish pharmaceutical maker Novo Nordisk. Alder BioPharmaceuticals has developed an antibody production…
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Breakout Labs Makes First Early-Stage Science Company Grants
Breakout Labs, a revolving investment fund in San Francisco that aims to support early-stage enterprises developing radical new technologies, announced its first six grants yesterday. The fund is backed by the Thiel Foundation, established by entrepreneur Peter Thiel, a founder of online payments service PayPal and an early investor in Facebook. All of the recipient…
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Nutritional Enzyme Maker Secures $10M Early-Stage Financing
Alcresta, in Newton, Massachusetts, has closed a $10 million series A financing round, the first funding installment after start-up. Investors are led by the venture capital firms Bessemer Venture Partners, Frazier Healthcare, and Third Rock Ventures. The company develops and commercializes enzyme-based nutritional products designed to improve the health of and manage disease for infants,…
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Infectious Disease Diagnostics Company Lands Series B Funds
Molecular Detection Inc. in Wayne, Pennsylvania, a company developing tests for diagnosing infectious diseases, says it has completed a new $1.9 million round of series B financing, the second funding installment after initial start-up. All existing investors, says the company, took part in the round, including MentorTech Ventures, Robin Hood Ventures, Elm Spring Holdings, and…