Taris Biomedical, a specialty pharmaceutical company developing therapies to treat bladder diseases, has raised a fresh $12.5 million in funding from its existing investors, Flagship Ventures, Flybridge Capital Partners, Polaris Partners, and Third Rock Ventures. With the new funding, Taris, based in Lexington, Mass., has raised $49.8 million altogether.

Vintage 2007 is a stand-out year for venture funds in CalPERS’ Grove Street Advisors portfolio, according to a peHUB analysis of the California Public Employees’ Retirement System’s most recent fund performance report.

Common wisdom is that it’s an unusually tough time to raise capital for early-stage healthcare investing. But Cambridge, Mass.-based Flagship Ventures is demonstrating that it’s possible to buck the trend. This week, the 11-year-old firm announced it has raised $270 million for a fourth fund that will be dedicated principally to early-stage investing and in-house [...]

Cambridge, Mass.-based Flagship Ventures has closed its new fund, Flagship Ventures Fund IV L.P., with $270 million in commitments. The firm said it exceeded a $250 million target, and saw participation from pension funds, foundations, fund-of-funds, corporations and individuals. The early-stage investment firm was formed in 2000. It’s previous fund closed in 2007 with $235 million.

Cambridge, Mass.-based Acceleron Pharma Inc. has raised $30 million in financing. The company said that strategic partner Celgene contributed to the round, along with “all other existing investors.” Acceleron has raised capital from Advanced Technology Ventures, Alkermes, Avalon Ventures, Bessemer Ventures, Celgene, Flagship Ventures, MPM BioEquities, OrbiMed Advisors, Polaris Ventures, QVT Financial, Sutter Hill Ventures and Venrock. The new funds will be used to expand the company’s clinical stage pipeline.

Seventh Sense Biosystems Inc., a Cambridge, Mass.-based developer of technology for decentralized diagnostic testing, has sealed a $3.28 million grant from the Bill & Melinda Gates Foundation. Formed in 2008, the company is backed by investors including Flagship Ventures, Polaris Venture Partners and Third Rock Ventures.

Agios Pharmaceuticals, a Cambridge, Mass.-based developer of drugs to treat cancer, has sealed a whopping $78 million in fresh capital. The company did not disclose all investors in the Series C round, but said that publicly traded Celgene participated, as did existing backers ARCH Venture Partners, Flagship Ventures and Third Rock Ventures.

Arboretum Ventures and Flagship Ventures co-led a $4.5 million Series A round for medical device startup Tangent Medical Technologies Inc. Osage Ventures and several undisclosed angel investors also contributed. Tim Petersen of Arboretum and Harry Wilcox of Flagship have joined Tangent’s board.

Martin Madaus has joined Quanterix Corp. as CEO. The company is a molecular diagnostics firm. Quanterix is backed by ARCH Venture Partners, Bain Capital Ventures, and Flagship Ventures.

Lexington, Mass.-based T2 Biosystems has closed a $23 million Series D financing round led by new investor Aisling Capital. Return backers Flagship Ventures, Polaris Venture Partners, Flybridge Capital Partners, Physic Ventures, Partners Healthcare, Arcus Ventures, RA Capital, Camros Capital and WS Investments also contributed. The money will help with ongoing development and clinical trials of the company’s diagnostic technology.