If you don’t eat your life sciences portfolio, you can’t have any Sequoia for dessert! As LPs continue to digest medical technology VC investments, GPs are left hungry for more capital.
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Collegium Pharmaceutical Inc., a specialty pharmaceutical company focused on treatments for chronic pain, has raised $22.5 million in Series B financing. Longitude Capital and Skyline Ventures led the round. Series A investors Frazier Healthcare Ventures and Boston Millennia Partners also participated in the round. PRESS RELEASE Collegium Pharmaceutical, Inc., a specialty pharmaceutical company focused on [...]
Menlo Park, Calif.-based Velomedix Inc. has raised $9.3 million in combined equity and debt financing, according to a regulatory filing. The development stage medical device company is focusing on ways that mild therapeutic hypothermia can benefit patients suffering from cardiac arrest, heart attack, stroke and traumatic brain injury. Velomedix is backed by investors including Longitude Capital.
Q3 certainly wasn’t a pretty quarter for venture fundraising. In fact, it was downright ugly, with just $1.72 billion raised by 52 U.S.-based venture funds, the smallest amount raised since Q3 2003, according to the National Venture Capital Association and Thomson Reuters (publisher of peHUB). In contrast, 49 U.S.-based VC funds raised nearly $2.9 billion in [...]
CardioDx, a company developing cardiovascular genomic diagnostics, has raised $60 million in new equity funding. New investors Longitude Capital, J.P. Morgan, Acadia Woods Partners, Artiman Ventures, and Bright Capital, the venture arm of RU-COM, participated in the round, which also included the company’s previous investors. The company has raised money previously from Kleiner, Perkins, Caufield & Byers, Mohr Davidow Ventures, TPG Biotech, Intel Capital, Pappas Ventures, DAG Ventures, Asset Management Group and GE Capital. Funding will be used to expand reimbursement coverage in the United States for the company’s blood-based gene expression test for obstructive coronary artery disease, as well as to continue development of future products. The company, based in Palo Alto, Calif., closed a $45 million round in May 2010.
Roanoke, Va.-based PixelOptics, the developer of electronic focusing eyeglasses, has closed $45 million in new financing. The round, led by publicly traded Safeguard Scientifics Inc., includes $35 million in equity and $10 million in venture debt. In addition to Safeguard Scientifics, Delphi Ventures, The Carlyle Group, Longitude Capital, and Stark Investments all contributed to the equity round. Horizon Technology Finance provided the venture debt funding. In 2008, peHub reported that the company had closed on $30 million in Series C financing from Longitude Capital, The Carlyle Group, Delphi Ventures, Stark Investments and Life Science Angels.
Civitas Therapeutics Inc. secured $20 million for its Series A financing. Founding investor Longitude Capital, along with co-lead Canaan Partnersof Westport, Conn., participated in the round. Civitas is a Chelsea, Mass.-based biopharmaceutical company that develops transformative pulmonary delivery therapies. It plans to use proceeds to advance its lead program for treating patients with Parkinson’s disease through clinical proof-of-concept.
Aptus Endosystems Inc. completed a $15M Series AA financing. U.S. Venture Partners and Longitude Capital led the round. Aptus is a Sunnyvale, Calif.-based developer of technologies designed to treat aortic aneurysms. PRESS RELEASE Aptus Endosystems, Inc., a medical device company developing advanced technology for endovascular aneurysm repair (EVAR), announced the completion of a $15 million [...]
Infacare Pharmaceutical Corp has announced a $28 million private placement of its Series B Preferred Stock, led by HealthCare Ventures with participation from Longitude Capital, FirstMark Capital and Atlas Venture. The Trevose, Pa.-based company specializes in late stake neonatal disease treatments. Press Release: InfaCare Pharmaceutical Corporation, a late stage specialty pharmaceutical company focused on the [...]