Bay City Capital backs PharmAkea with Series A

PharmAkea Therapeutics has secured backing from Bay City Capital and Celgene Corporation. Under terms of the agreement, Celgene Corporation will commit $35 million to PharmAkea during an initial three-year alliance term, with an option to extend the collaboration with additional funding. Bay City Capital has invested $10 million in a Series A equity financing.

Bay City Capital Expands Team

Bay City Capital has appointed David Beier as managing director. Beier served as a senior officer for nearly a decade in biotechnology firms, Genentech and Amgen. Most recently, he served as senior vice president of global government affairs at Amgen, responsible for global government affairs, as well as corporate communications, and philanthropy.

Bay City Capital Brings Aboard David Beier as Managing Director

Bay City Capital, a San Franciso-based venture capital firm that focuses on life sciences companies, has hired David Beier as a managing director. Beier was a senior officer for nearly a decade at each of the two largest biotechnology firms, Genentech and Amgen, where he was most recently a senior VP responsible for global government affairs.

Avita Medical Appoints Former Bay City capital Venture Partner to Board

Regenerative medicine company Avita Medical has appointed Dr. Michael S. Perry, vice president and senior global program head, stem cell therapy at Novartis Pharmaceuticals to the company’s board of directors. From 2005 to 2012, Perry was a venture partner with Bay City Capital, a California-based venture capital firm managing over US$1.6 billion invested predominantly in life science companies.

NuPathe Raises Financing

NuPathe, a specialty pharmaceutical company has closed a previously disclosed $28 million sale of securities. Leerink Swann LLC acted as lead placement agent and MTS Securities, LLC acted as co-placement agent in connection with the financing. NuPathe also announced James A. Datin, executive vice president and managing director and Brian J. Sisko, senior vice president and general counsel at Safeguard Scientifics, along with Richard S. Kollender, partner at Quaker Partners Management were appointed to NuPathe’s board of directors.

Phizer Buys VC-Backed NextWave Pharmaceuticals

Phizer is snapping up NextWave Pharmaceuticals—a company backed by a laundry list of investors including Panorama Capital, Bay City Capital, Kearny Venture Partners, Aisling Capital, Fidelity Biosciences, Sofinnova Ventures and Vivo Ventures. Under the terms of the deal, Pfizer will pay $255 million to NextWave’s shareholders at closing. NextWave’s shareholders are eligible to receive up to $425 million in additional money, based on sales milestones. NextWave closed a $45 million round last January.

SynGen Completes $5M Financing with Bay City Capital

Regenerative medicine device company SynGen has completed a $5 million Series A preferred stock financing with Bay City Capital. Under the terms of the transaction, BCC will appoint two representatives to SynGen’s board of directors. PRESS RELEASE SynGen Inc. (“SynGen” or the “Company”), a Regenerative Medicine device company focused on the development of next generation […]

Aviir Seals Agreement for Up to $30M in Funding

Irvine, Calif.-based biotech company Aviir Inc. announced Tuesday that it had sealed an agreement with investors to raise up to $30 million. The financing includes an initial investment of $10 million and future investments of up to $20 million upon achieving certain milestones. Merck Global Health Innovation Fund led the round. Current investors Bay City Capital, Aberdare Ventures, and New Leaf Venture Partners also participated.

Dermira Closes $42M

Redwood City, Calif.-based Dermira has raised $42 million in Series A financing to back the acquisition, development and commercialization of novel therapeutics in dermatology. Investors include Bay City Capital, New Enterprise Associates and Canaan Partners. In conjunction with the financing, Dermira also said that it has acquired Valocor Therapeutics, which has a pipeline of development stage dermatology programs for the treatment of acne, inflammatory skin diseases, and other conditions.

Nevro Inks $58M For Chronic Pain Treatment

Menlo Park, Calif.-based Nevro Corp., a neuromodulation company focused on relief of chronic pain, has sealed a whopping $58 million round led by new investor Johnson & Johnson Development Corporation. Existing shareholders Aberdare Ventures, Accuitive Medical Ventures, Bay City Capital, Mayo Clinic, MPM Capital and Three Arch Partners also participated. The money will go toward a clinical study in the US and to support the company’s commercialization strategy.

VC-Backed Nexus Dx Adds Nemmers to Board

San Diego-based Nexus Dx Inc. has named Joseph Nemmers Jr. to its board of directors. Nemmers is the principal in a private consulting practice specializing in the pharmaceutical and medical device industries, and serves as an advisor to Warburg Pincus . Nexus is backed by investors including Bay City Capital, Kleiner Perkins Caufield & Byers, Prolog Ventures and Warburg Pincus.

Hyperion Therapeutics Raises $60 Million

Hyperion Therapeutics, a San Francisco-based drug company focused on gastroenterology and hepatology, has raised $60 million in Series C funding. Bay City Capital and Panorama Capital co-led the round, and were joined by return backers Highland Capital Partners, New Enterprise Associates and Sofinnova Ventures. PRESS RELEASE Hyperion Therapeutics, a privately held specialty pharmaceutical company focused on […]

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