Stromedix Inc., a Cambridge, Mass.-based biotech company focused on therapies for fibrosis, has raised $25 million in Series B funding. New Leaf Venture Partners led the round, and was joined by Bessemer Venture Partners, Red Abbey Venture Partners and Series A backers Atlas Venture and Frazier Healthcare Ventures. Read more…
VisEn Medical Inc., a Woburn, Mass.-based developer of fluorescence molecular imaging technology platforms, has raised $5 million in additional Series B funding. It had held a $7.5 million first close last fall. Return backers Merck Capital Ventures and Flagship Ventures co-led the expansion. Other Series B backers include Siemens AG Medical Solutions and Spinnaker Capital. Read more…
HealthEdge, a Burlington, Mass.-based provider of claims and benefit administration for healthcare payers, has raised $13 million from Psilos Group. Read more…
Burlington, Mass.
HyperMed Names Two To Top Slots
HyperMed Inc., a developer of hyperspectral diagnostic systems for diabetic and vascular disease, has named Mark B. Carbeau chief executive, president and board of directors member, and Daniel J. Levangie non-executive chairman of the board.
http://www.hypermed-inc.com
HyperMed Names Two To Top Slots
HyperMed Inc., a developer of hyperspectral diagnostic systems for diabetic and vascular disease, has named Mark B. Carbeau chief executive, president and board of directors member, and Daniel J. Levangie non-executive chairman of the board.
http://www.hypermed-inc.com
Red Bend Software Inc., a Waltham, Mass.-based provider of software for remotely updating mobile phone applications, has raised $10 million in fifth-round funding. Coral Capital Management was joined by return backers Carmel Ventures, Greylock Partners, Infinity Venture Capital, Pitango Venture Capital and Poalim Ventures. The company has now raised $32.5 million in total venture capital since early 2001. Read more...
Pine Creek Partners has sponsored a recapitalization of Hilden America Inc., a South Boston, Va.-based provider of luxury linens to high-end hotels and restaurants. No financial terms were disclosed for the deal, which also included participation by SunTrust Bank. Read more…
Resolvyx Pharmaceuticals Inc., a Bedford, Mass.-based developer of resolvin therapeutics, has raised $25 million in Series B funding. QVT Financial led the round, and was joined by Radius Ventures, Biogen Idec New Ventures and return backers Atlas Venture, CHL Medical Partners and Flagship Ventures. Read more…
Play Hard Sports Inc., a Foxboro, Mass.-based developer of casual sports gaming network, has raised $5 million in Series A funding from New Enterprise Associates. The company is run by Jeffrey Anderson, who stepped down as CEO of gaming company Turbine Inc. last October. Harry Weller, a partner with NEA, will join the Play Hard board of directors.
Drug Therapies | Cambridge, Mass.
Sirtris' $720M Sale Looks 'Great' To Investors
Publicly traded Sirtris Pharmaceuticals Inc.'s definitive acquisition agreement by GlaxoSmithKline PLC for about $720 million in cash provides venture backers of the company with a very positive exit, investors said Wednesday.
http://www.sirtrispharma.com
Sirtris' $720M Sale Looks 'Great' To Investors
Publicly traded Sirtris Pharmaceuticals Inc.'s definitive acquisition agreement by GlaxoSmithKline PLC for about $720 million in cash provides venture backers of the company with a very positive exit, investors said Wednesday.
http://www.sirtrispharma.com
Cambria Pharmaceuticals Inc., a Woburn, Mass.-based biopharmaceutical company, has closed a $5.4 million series A financing. Participating investors included Biogen Idec New Ventures, CommonAngels, and a number of individual investors. In addition, Cambria Pharmaceuticals changed its name from Cambria Biosciences LLC to reflect its focus on discovering small molecules to battle neurological disorders. www.cambriapharma.com
TheStreet.com , (Nasdaq:TSCM) has made an initial $1.2 million investment in Geezeo. For that outlay it acquired about 13 percent of the Framingham, Mass.-based company, and holds an option to purchase the rest of Geezeo anytime during the next 12 months
Aiming to innovate in the e-commerce world, Retail Convergence Inc. has raised a hefty $25 million Series A round to focus on its online fashion sites.
Based in Boston, Retail Convergence encompasses two e-commerce companies: Ruelala.com and SmartBargains.com. The latter Web site was acquired by Retail Convergence as it formed a few months ago.
Ruelala.com, which launched April 10, is a branded invitation-only fashion marketplace for women. Users must be invited to participate in the site's mini-sales, which give users access to brand-name items at discount prices for 24 hours via online boutiques featured on the site. Other venture-backed retailers offering a similar invitation-only model include Ideeli Inc. and Gilt Groupe Inc.
Since the launch of Ruelala.com, 70,000 users have signed up, the company said.
Based in Boston, Retail Convergence encompasses two e-commerce companies: Ruelala.com and SmartBargains.com. The latter Web site was acquired by Retail Convergence as it formed a few months ago.
Ruelala.com, which launched April 10, is a branded invitation-only fashion marketplace for women. Users must be invited to participate in the site's mini-sales, which give users access to brand-name items at discount prices for 24 hours via online boutiques featured on the site. Other venture-backed retailers offering a similar invitation-only model include Ideeli Inc. and Gilt Groupe Inc.
Since the launch of Ruelala.com, 70,000 users have signed up, the company said.
Marlborough, Mass.
HIV Diagnostic Co. PointCare Eyes Profitability
PointCare Technologies Inc. expects to turn profitable this year now that it has secured a $3.6 million Series C to expand marketing of a diagnostic used in the treatment of HIV in developing countries.
http://www.pointcaretechnologies.com
HIV Diagnostic Co. PointCare Eyes Profitability
PointCare Technologies Inc. expects to turn profitable this year now that it has secured a $3.6 million Series C to expand marketing of a diagnostic used in the treatment of HIV in developing countries.
http://www.pointcaretechnologies.com
Constellations Pharmaceuticals Inc., a Cambridge, Mass.-based developer of drugs that target selective regulators of epigenetic function, has raised $32 million in Series A funding. The round was co-led by Third Rock Ventures, The Column Group and Venrock. Read more…
Concert Pharmaceuticals Inc., a Lexington, Mass.-based provider of small-molecule drugs for unmet medical needs, has raised $37 million in Series C funding. A "leading public equity institutional investor" led the round, and was joined by fellow new investors Adage Capital Management, SR One Ltd., Mediphase Venture Partners and Westfield Capital Management. Return backers included Three Arch Partners, TVM Capital, Skyline Ventures, Brookside Capital Partners Fund, Flagship Ventures, Greylock Partners, New Leaf Venture Partners and QVT Fund. Concert Pharma has now raised $95.5 million in total VC funding since 2006. Read more…
Cortera Inc. (f.k.a. eCredit), a Dedham, Mass.-based provider of online solutions for commercial credit and collections professionals, has raised $8 million in new funding. CIBC Capital Partners led the round, and was joined by return backers Fidelity Ventures and Battery Ventures. Fidelity Ventures acquired Cortera in 2006 and, with Battery Ventures, provided $11 million in growth capital. Read more…
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Cambridge, Mass.
GM Backs Cellulosic Ethanol Tech Co. Mascoma
General Motors Corp. has made its second investment in a cellulosic ethanol technology developer, which aims to produce ethanol from non-food bio-material.
http://www.mascoma.com
GM Backs Cellulosic Ethanol Tech Co. Mascoma
General Motors Corp. has made its second investment in a cellulosic ethanol technology developer, which aims to produce ethanol from non-food bio-material.
http://www.mascoma.com
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