Valeritas Inc., a Bridgewater, N.J.-based developer of drug delivery systems for the diabetes market, has raised $150 million in Series C financing. The funding will support commercialization of its V-Go disposable insulin delivery device. Welsh, Carson, Anderson & Stowe led the financing and assumes a controlling interest in Valeritas. Previous investors MPM Capital, Pitango Venture Capital, Abingworth Management, Advanced Technology Ventures, ONSET Ventures, HLM Venture Partners, Agate Medical Investments, CHL Medical Partners and Kaiser Permanente Ventures also participated.

Magellan Biosciences, the Boston-based diagnostics company, sold its TREK Diagnostic Systems, the company’s microbiology business, to strategic acquirer Thermo Fisher Scientific. Terms of the deal were not publicized. Backers of Magellan include Abingworth Management, Hambrecht & Quist Capital Management, KBL Healthcare Ventures, Ampersand Ventures, New England Partners Capital LP, Nexus Medical Partners II SICAR, and Boston Community Venture Fund.

Biotie, a Finland-based drug development company, has agreed to pay 93.6 million euros ($127 million) for Switzerland-based biotherapeutics company Synosia Therapeutics, providing an exit for a slew of venture investors. 5AM Ventures, Aravis SA, Investor Growth Capital, Novo A/S, Swiss Helvetia Fund, UCB S.A., Versant Venture Management and Abingworth Management had backed Synosia.